PAZ RETAIL AND ENERGY LTD

		Registry Number: 510216054
--	--	----------------------------

To:

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

Form Number: T087 (Public) Broadcasted on MAGNA: 04/01/2026 Reference Number: 2026-01-001163

Statement of Capital, Granting Rights to Purchase Shares, and Securities Registry and Their Changes

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

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

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

Regulation 32 of the Securities Regulations (Periodic and Immediate Reports), 1970

Nature of Change:

Redemption and expiration of employee (unlisted) warrants

Explanation: A brief description of the nature of the change

Reference numbers of previous reports on the subject: _________, _________, _________.

1. The Corporation's Securities after the Change:

Name and Type of Security	Security Number	Quantity in Registered Capital	Issued and Paid-Up Capital	Quantity Registered in the Name of Nominee Company
Ordinary shares	1100007	30,000,000	Last report: 13,856,471	11,681,831
			Current: 13,856,831
Bonds Series 6	1139542	180,867,782.49	Last report: 180,867,782.49	180,867,782.49
			Current: 180,867,782.49
Bonds Series 7	1142595	801,327,822.19	Last report: 801,327,822.19	801,327,822.19
			Current: 801,327,822.19
Bonds Series 8	1162817	1,255,175,055	Last report: 1,255,175,055	1,255,175,055
			Current: 1,255,175,055
Bonds Series 9	1205947	199,506,000	Last report: 199,506,000	199,506,000
			Current: 199,506,000
Warrants (not listed)	1175157	0	Last report: 367,479	0
			Current: 366,829
Commercial Papers (Series 2)	1231968	400,000,000	Last report: 400,000,000	400,000,000
			Current: 400,000,000

Explanation: All securities of the company are to be detailed, including non-listed securities.

2. The Corporation Announces That:

From date: 01/12/2025 to date: 31/12/2025
There was a change in the quantity and in the register of the corporation's securities holders (including rights to acquire shares) as a result of:

Description of the Nature of Change:

"Exercise of 525 employee (unlisted) warrants into 360 ordinary shares of the company during the said period; expiration of 125 (unlisted) warrants following employees' departures."

Explanation: You must describe all of the details of the transaction or event which resulted in the change.

Details of Change for Each Affected Security Holder

1. Name of registered holder affected by the change: I.B.I. Trust Management Ltd Identification type: Number in the Israeli Companies Register ID Number: 515020428 Nature of change: Other. Exercise of employee warrants between the dates stated above. Date of change: 31/12/2025 Performed via Stock Exchange Clearinghouse: No Type and name of changed security: Employee Warrants (not listed) Security number: 1175157
Holder's previous balance: 367,479 Balance after change: 366,954 Total amount of securities changed: 525 Was this a grant of rights to acquire shares? No Total consideration for securities allocated: Stock Exchange number of resulting share: Number of shares from full exercise/conversion: Total consideration from full exercise/conversion into shares: Period during which securities can be exercised: From date: To date: Will allocated securities be listed for trading: Allocation is a continuation of: published on with reference number The security has been fully paid and the consideration has been fully received. The security has been fully paid but the consideration has not been fully received. Issued for ATM program Other:
2. Name of registered holder affected by the change: Nominee Company of Tel Aviv Stock Exchange Ltd Identification type: Number in the Israeli Companies Register ID Number: 515736817 Nature of change: Other. Exercise of employee warrants between the dates stated above. Date of change: 31/12/2025 Performed via Stock Exchange Clearinghouse: Yes Type and name of changed security: Ordinary shares of 5 NIS par value each Security number: 1100007 Holder's previous balance: 11,681,471 Balance after change: 11,681,831
Total amount of securities changed: 360 Was this a grant of rights to acquire shares? No [Other data is blank as per form] The security has been fully paid and the consideration has been fully received. 3. Name of registered holder affected by the change: I.B.I. Trust Management Ltd Identification type: Number in the Israeli Companies Register ID Number: 515020428

Nature of change: Expiry Date of change: 31/12/2025

Performed via Stock Exchange Clearinghouse: No

Type and name of changed security: Employee Warrants (not listed)

Security number: 1175157

Holder's previous balance: 366,954 Balance after change: 366,829

Total amount of securities changed: 125

Was this a grant of rights to acquire shares? No

Other: Expiry

Explanations

1. If the change affects more than one security, the effect of the change must be detailed in a separate line for each security.
1. Change date all changes of the same type, in the same security, executed on one day should be summarized in one line. For this purpose, changes executed via the stock exchange clearinghouse should be separated from those made directly in the company's books.
1. The change: for a decrease, add the symbol "-".
1. For all quantity fields, enter the quantity of securities, not par value in NIS.

3. Main register of shareholders as of the report date:

No.	Name of Registered Shareholder	Identification Type	ID Number	TASE Security Number	Type & Par Value of Shares	Number of Shares	Holds shares as trustee
1	Edan Trustees Ltd	Number in Israeli Register	511169781	1100007	Ordinary shares of 5 NIS p.v.	2,175,000	Yes
2	The Nominee Company of the Tel Aviv Stock Exchange Ltd	Number in Israeli Register	515736817	1100007	Ordinary shares of 5 NIS p.v.	11,681,831	No

4. Attached is the file of the shareholders register according to section 130 of the Companies Law, 1999:

paz\_shareholder\_register\_31122025\_isa.pdf

Alt text: PDF file of Paz Energy's shareholders register as of 31/12/2025.

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

paz\_securities\_register\_31122025\_isa.pdf

Alt text: PDF file of Paz Energy's updated securities registers (including option and bondholder registers) as of 31/12/2025.

Authorized Signatories on Behalf of the Corporation:

No.	Name	Role
1	Anat Rothschild	Other. Deputy CEO, Chief Legal Counsel & Corporate Sec.
2	Masha (Maria) Berkovitz	Other. Attorney

Explanation: According to regulation 5 of the Periodic and Immediate Report Regulations (1970), a report submitted under these regulations must be signed by those authorized by the corporation. Staff position on the subject can be found on the Authority's website: Click Here.

Details of Reporting Entity

Abbreviated Name: Paz Energy

Address: Greenwork, Building D, Kibbutz Yakum, 6097200

Phone: 09-8631103, 09-8631121

Fax: 09-9562159

Email: [email protected]

Website: https://www.paz.co.il/he-IL/home

Previous names of the reporting entity: Paz Oil Company Ltd

Electronic signatory name: Maria Berkovitz

Position: Attorney/Legal Advisor

Employer's company:

Address: Greenwork, Building D, Yakum, 6097200

Telephone: 054-5369439 Email: [email protected]

Note:

Securities of the corporation are traded on the Tel Aviv Stock Exchange.

Form structure update date: 06/08/2024

AI Terminal

Paz Oil Company Ltd.

6977_rns_2026-01-04_70a959e0-afd8-4629-99d8-bf422442a773.pdf