GlobeNewswire Inc | Oct 1, 2020 09:00AM EDT

October 01, 2020

RENO, Nev., Oct. 01, 2020 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that the United States District Court for the District of Nevada has approved the following announcement of a proposed class action settlement that would benefit purchasers of Ormat Technologies, Inc. Common Stock (NYSE: ORA)(Tel Aviv: ORA):

UNITED STATES DISTRICT COURTDISTRICT OF NEVADA

MAC COSTAS, Individually and on behalf of all others similarly situated, Plaintiffs, Case No. 3:18-cv-00271-RCJ-WGCv. Hon. Robert C. JonesORMAT TECHNOLOGIES, INC., ISAAC ANGEL, and DORON BLACHAR, Defendants.

PUBLICATION NOTICE OFPENDENCY AND PROPOSED CLASS ACTION SETTLEMENT AND MOTION FOR ATTORNEYS FEES AND FAIRNESS HEARING

ToAll Persons Who Purchased Ormat Technologies, Inc. Securities between August 3, 2017 and May 15, 2018, inclusive

YOU ARE HERBY NOTIFIED, pursuant to an Order of the United States District Court for the District of Nevada, that a hearing will be held on January 11, 2021 at 10:00 A.M. PT before the Honorable Robert C. Jones, United States District Judge of the District of Nevada, in Courtroom 3, Bruce R. Thompson Courthouse, 400 S. Virginia St., Reno, NV 89501, to determine: (1) whether the proposed Settlement for $3,750,000 in cash should be approved by the Court as fair, reasonable, and adequate; (2)whether the proposed plan to distribute the settlement proceeds is fair and reasonable; (3)whether the application for an award of attorneys fees of up to one-third plus interest of the Settlement Amount and reimbursement of expenses of not more than $115,000 should be approved; (4) whether the application for a service award to Lead Plaintiff of up to $20,000 to compensate it for its time and contributions to the case should be approved; and (5) whether the Action should be dismissed with prejudice against the Defendants, as set forth in the Stipulation and Agreement of Settlement and Release dated June 8, 2020 (the Stipulation) filed with the Court.

If you have not received the detailed Notice of Pendency and Proposed Settlement of Class Action (the Notice) and Proof of Claim and Release Form, you may obtain them free of charge at www.strategicclaims.net or by contacting the Claims Administrator at:

Ormat Securities Litigation Claims Administratorc/o Strategic Claims ServicesP.O. Box 230600 N. Jackson St., Ste. 205Media, PA 19063Tel.: 866-274-4004Fax: 610-565-7985info@strategicclaims.net

If you purchased Ormat Technologies, Inc. (Ormat) securities between August 3, 2017 and May 15, 2018, inclusive, your rights may be affected by this Settlement. As further described in the Notice, you will be bound by any Judgment entered in the Action, whether or not you make a claim, unless you request exclusion from the Settlement Class, in the manner set forth in the Notice, no later than December 11, 2020.

If you are a member of the Settlement Class and wish to share in the Settlement proceeds, you must submit a Proof of Claim and Release Form electronically or postmarked no later than December 11, 2020 to the Claims Administrator, establishing that you are entitled to recovery. Any objection to the Settlement, Plan of Allocation, or Lead Counsels request for an award of attorneys fees and service Award to Lead Plaintiff must be in the manner and form explained in the Notice and received no later than 5 P.M. PT on January 4, 2021, by each of the following:

CLERK OF COURT: LEAD COUNSEL: DEFENDANTS? COUNSEL:

Clerk of the Court Jeremy A. Lieberman Douglas P. BaumsteinUnited States District Murielle Steven Walsh Dominique ForrestCourt Eric D. Gottlieb WHITE & CASE LLPDistrict of Nevada POMERANTZ LLP 1221 Avenue of the400 S. Virginia St. 600 Third Avenue, Floor AmericasReno, NV 89501 20 New York, NY 10020 New York, NY 10016

PLEASE DO NOT CONTACT THE COURT OR THE CLERKS OFFICE REGARDING THIS NOTICE. If you have any questions, you may call or write to Lead Counsel at:

Jeremy A. LiebermanMurielle Steven WalshEric D. GottliebPOMERANTZ LLP600 Third Avenue, Floor 20New York, NY 10016Tel: (212) 661-1100Fax: (917) 463-1044jalieberman@pomlaw.commjsteven@pomlaw.comegottlieb@pomlaw.com

DATED: September 3, 2020 BY ORDER OF THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF NEVADA