El Al Israel Airlines Ltd.

Major Shareholding Notification • Dec 24, 2025

EL AL ISRAEL AIRLINES LTD

Company Registration Number: 520017146

To:

• Israel Securities Authority (www.isa.gov.il)
• Tel Aviv Stock Exchange Ltd (www.tase.co.il)

Form Number: T087 (Public)

MAGNA Submission Date: 24/12/2025

Reference: 2025-01-102745

State of Capital, Granting Rights to Purchase Shares, and Registers of Securities of the Corporation and the Changes Thereto

Regulation 31E of the Securities Regulations (Immediate Periodic Reports), 1970 Regulation 31(a) of the Securities Regulations (Immediate Periodic Reports), 1970 Regulation 31(b1) of the Securities Regulations (Immediate Periodic Reports), 1970 Regulation 32 of the Securities Regulations (Periodic and Immediate Reports) 1970

Nature of Change:
-------------------	--	--

		Exercise of warrants (Series 3)
--	--	---------------------------------	--	--

Explanation: A brief description of the nature of the change

Reference Numbers to Previous Reports on the Subject: _________, _________, _________.

		1. The Corporation's	Securities Register after the Change:
--	--	----------------------	---------------------------------------	--	--	--

This is an unofficial AI generated translation of the official Hebrew version and has no binding force. The only binding version is the official Hebrew version. For more information, please review the legal disclaimer.

Name and Type of Security	Security Number	Quantity in Registered Capital	Most Recent Filing Quantity	Current Quantity	Quantity Recorded by Nominee Company
Ordinary Share	1087824	1,875,000,000	554,053,591	554,275,305	554,274,713
Special State Share	1087865	1	1	1	0
EL AL Warrant 3	1205467	34,865,713	35,087,427	34,865,713	34,865,713
EL AL Warrant 11/22	1191014		12,984,666	12,984,666	0

Explanation: All the company's securities must be detailed, including securities not listed for trading.

2. The Corporation Announces That:

• On the date: 23/12/2025
• There has been a change in the quantity and in the register of securities holders (including rights to purchase shares) of the corporation as a result of: Exercise of options

Explanation: All details of the transaction or action that caused a change in the corporation's securities must be described.

Section 1 – Detailed Changes

1. Registered holder subject to the change: The Securities Registration Company of the Tel Aviv Stock Exchange Ltd

Type of Identification Number: Other identification number

ID Number: 515736817

Nature of the change: Exercise of options
Date of change: 23/12/2025
Performed via TASE Clearinghouse: Yes
Type and name of security subject to change: EL AL Ordinary Share
Security Number: 1087824
Holder's balance in this security in the last report: 554,052,999
Holder's balance in this security after the change: 554,274,713
Total quantity of securities increased/decreased: 221,714
Is it a grant of rights to purchase shares? No
Total consideration for allocated securities:
Security number of the resulting share:
Quantity of shares to arise from full exercise/conversion:
Total additional consideration from full exercise/conversion into shares:
Period during which the security can be exercised:
From: to:
Allocated securities will be registered for trading:
The allocation is a continuation of:, published on:, reference: The security is fully paid and the consideration has been received in full.
The security is fully paid, but the consideration was not fully received.
Issued for an ATM program
Other:
2. Registered holder subject to the change: The Securities Registration Company of the Tel Aviv Stock Exchange Ltd

This is an unofficial AI generated translation of the official Hebrew version and has no binding force. The only binding version is the official Hebrew
version. For more information, please review the legal disclaimer.

Type of Identification Number: Israeli Companies Registrar Number
ID Number: 515736817
Nature of the change: Exercise of options
Date of change: 23/12/2025
Performed via TASE Clearinghouse: No
Type and name of security subject to change: EL AL Warrant 3
Security Number: 1205467
Holder's balance in this security in the last report: 35,087,427
Holder's balance in this security after the change: 34,865,713
Total quantity of securities increased/decreased: 221,714
Is it a grant of rights to purchase shares? No
Total consideration for allocated securities:
Security number of the resulting share:
Quantity of shares to arise from full exercise/conversion:
Total additional consideration from full exercise/conversion into shares:
Period during which the security can be exercised:
From: to:
Allocated securities will be registered for trading:
The allocation is a continuation of:, published on:, reference: The security is fully paid and the consideration has been received in full.
The security is fully paid, but the consideration was not fully received.

Explanations:

• 1. If the change affects more than one security, the impact on each security should be detailed in a separate row.
• 1. Change date all changes of the same type, in the same security, occurring on one day, will be summarized in a single row. Changes via TASE Clearinghouse are separated from those made directly in the company books.
• 1. For a reduction, add the sign "-".

Other: _________

Issued for an ATM program

1. All quantity fields must indicate the number of securities, not NIS (par value).

3. Main Shareholder Register as of the report date:

No.	Name of Registered Shareholder	Type of ID Number	ID Number	Security Exchange Number	Type of Shares and Par Value	Number of Shares	Holding as Trustee?
1

4. Attached: Shareholder Register File in accordance with the provisions of section 130 of the Companies Law, 1999

Shareholder_Register_231225_isa.pdf

[alt text: Shareholder register file attachment]

5. Attached: Updated file of the corporation's securities registers, including register of option holders and register of bondholders

Securities_Register_23122025_isa.pdf [alt text: Securities register file attachment]

Details of the Authorized Signatories on behalf of the Corporation:

No.	Signer Name	Position	Additional Description
1	Gil Feldman	VP Finance
2	Inbal Carmi	Other	Company Secretary

Explanation: According to regulation 5 of the Securities Periodic and Immediate Reports Regulations (1970), reports submitted pursuant to these regulations must be signed by those authorized to sign on behalf of the corporation. Staff position on this can be found on the Authority's website: Click here.

Securities of the corporation are listed for trading on the Tel Aviv Stock Exchange

This is an unofficial AI generated translation of the official Hebrew version and has no binding force. The only binding version is the official Hebrew version. For more information, please review the legal disclaimer.

Form Structure Last Update: 06/08/2024

Short name: EL AL

Address: P.O. Box 41, Ben Gurion Airport, 70100

Phone: 03-9716202, 03-9716203

Fax: 03-9717334

Email: CORPORATE@ELAL.CO.IL

Previous company names:

Electronic reporter name: Yulia Zgut

Position: Attorney/Legal Advisor

Employer company name:

Address: Ben Gurion Airport 41, Lod, 7110001

Phone: 03-9716760 Email: yuliaz@elal.co.il