Meitav Investment House Ltd.

Investor Presentation • Apr 3, 2025

Investor Presentation

Q4 2024

1

Disclaimer

The following presentation was prepared by Meitav Investment House Ltd. (hereinafter: the "Company") and is intended for institutional investors only. This presentation does not comprise an opinion, suggestion, recommendation or purchase consultation / marketing and / or holding and / or sale of securities and / or financial assets (including the Company's securities and / or any of the Companies of the Meitav Group's issued financial assets). This presentation is not a substitute for investment consultation / marketing or pension consultation / marketing that takes into account each person's specific needs. This presentation is intended only for delivery and presentation of the information provided and its presentation does not replace the need to review reports published by the Company to the public.

The following is the opinion of the Company alone, and reflects its understandings at the time of the presentation. The information, details and analysis set forth in this presentation, including the views expressed, may change without further notice.

The occurrence of certain matters discussed in this presentation, including projections, objectives, assumptions, estimates and any other information relating to future events and / or matters, is uncertain and is not under the Company's control. Information relating to a forecast of the Company's revenues and profitability, is all forward-looking statements, as it is defined by the Securities Law, 1968, and is based on the subjective assessments of the Company's management based on data and information that the Company had at the presentation's time of preparation. The realization or non-realization of forwardlooking statements will be affected, among other things, by risk factors characterizing the Company's activities, regulation and developments in the economic environment and external factors affecting the Company's activities, which cannot be estimated in advance and are not under the Company's control. The results of the Company's activities may be materially different than the estimated or implicit results stated in this presentation.

This document is an unofficial translation for convenience only of the Hebrew original of the Investor presentation of Meitav Investment House Ltd. for Q4, 2024, that was submitted to the Tel-Aviv Stock Exchange and the Israeli Securities Authority on March 18, 2025. The Hebrew version submitted to the TASE and the Israeli Securities Authority shall be the sole legally binding version. For the details of the policy, see the Company's immediate report dated August 19, 2024 (reference number: 2024-01-084447).

Revenue: Continued Growth Across All Business Segments (In NIS Million)

• Total group revenue: Approximately NIS 441 million, reflecting a 30% increase compared to the same quarter last year.
• Annual revenue run rate* of over NIS 680 million in long-term savings.

* Based on the 2024 fourth quarter data ** Provident Funds, Study Funds and Pension Funds

AUM: Breaking Records Once Again (In NIS Billion)

• The Company's AUM have shown remarkable growth, increasing by approximately 124% between December 31, 2020 and December 31, 2024
• As of March 9, 2025, the total AUM amount of approximately NIS 333 billion

Meitav: Selected Financial Data for Q4 2024

* See details in our 2024 annual reports

Other = Insurance Agencies, Institutional Brokerage, Alternative Investments and other activities. 5

Meitav: Selected Financial Data FY 2024

Adjusted EBITDA*

* See details in our 2024 annual reports

Other = Insurance Agencies, Institutional Brokerage, Alternative Investments and other activities. 6

Adjusted EBITDA* (In NIS Million)

• Adjusted EBITDA* of approximately NIS 163 million in the current quarter, an increase of approximately 73% compared to the corresponding quarter last year

7 * Excluding one-time factors and share based payments (See details in our 2024 annual reports)

Selected Financial Data: Over 130% Increase in the net profit of Q4/2024*

)In NIS Million)

Competitive Advantages That Prevail in the Long Run

ONE-STOP SHOP For all investment opportunities

The leading investment house offering the widest range of investment channels for its over 1.5 million clients:

• Pension, provident, and study savings funds, IRA
• Independent stock market trading
• Portfolio management
• Mutual funds
• Alternative investments

Diverse Business Anchors Risk diversification in the capital market

• Asset management: pensions, provident funds, mutual funds, and portfolio management
• Trading: retail and institutional brokerage
• Credit services in Israel and abroad
• Alternative Investments and Fintech

Active Management Managerial stability over the years

• An average seniority of approximately 10 years among the management team
• Strong leadership by a CEO and a robust executive team over many years

Market Leadership 45 years of expertise and professionalism with a team of experts

• The largest investment house in Israel
• The largest non-banking member of the Stock Exchange in Israel
• The largest portfolio management company in Israel
• Israel's preferred investment house*
• The second-largest mutual fund company in Israel
• The largest pension fund among investment houses

Leading Sales and Distribution Network

• Long-term relationships with distribution networks across various operations
• Advanced technological platforms for employers, agents, and end clients
• The only investment house in Israel offering a long-term savings application

Dividend Policy and Share Buyback Program

The company has updated its dividend policy to distribute at least 40% of its net profit based on consolidated financial statements and announced a share buyback program of up to NIS 60 million.

• * Based on a research conducted by "Kelim Sh'luvim" Institute in May 2024
• 9

Key Growth Drivers

Pension and Provident Funds

• Meitav Pension and Provident Fund LTD manages assets totaling approximately 150 billion NIS.
• The largest pension fund among all investment houses.
• Unique investment tracks and leading returns over 3- and 5-year periods.
• Meitav has become the first choice, capturing 27% of all new pension fund savers in 2023*.

Credit

• Consistent growth in the group's total credit portfolio.
• Expanding activity in Lotus, a company operating in Ireland.
• Meitav Financing continues to experience accelerated growth
• Entry into financing urban renewal projects in Peninsula

Retail Brokerage

• The largest non-banking member of the Stock Exchange in Israel.
• Market share: 9% of the trading volumes on the Tel Aviv Stock Exchange in bonds and equities.
• Significant momentum supported by increased participation of private investors in the capital market.
• Massive client acquisition with sustained growth in recruitment.

Alternative Investments and Fintech

• 33% equity stake (on a fully diluted basis) in Liquidity, a global fintech company.
• Key advantages include risk diversification, the potential for high returns, and the opportunity to receive periodic dividends in certain investments.
• New investment products, such as a secondary fund managed by Valoo.

Meitav: Development and Growth Over the Years

1979

Meitav was Established as an Investment Portfolio Management Company

The founders: Zvi Stepak and Shlomo Simanovsky

1980-1989

A Decade of Professional Growth

Meitav leads the way in public financial data reporting

1985: Meitav launches its first mutual funds

10 employees

1990-1999

A Decade of Expansion

Rapid growth of Meitav Investment House at the end of the decade

1991: Establishment of Dash Investment House

25 employees

2000-2009

A Decade of Success and Major Breakthrough

Founding of the Provident and Pension company

Merger of Meitav-Gaon-Yashir

Expansion of independent trading services for private clients

400 employees

2010-2019

A Decade of Mergers and Acquisitions

2011: Dash acquires Tachlit ETFs

2013: Merger of Meitav and Dash, transforming into a publicly traded company

Acquisition of controlling interest in Peninsula and entry into the credit market

Initiation of activity in the field of Alternative Investments

800 employees

2020-2024

Continued Growth and Increasing Business Volume

Meitav becomes a leading brand, recognized as the most Israeli investment house

2024: IPO of the subsidiary Meitav Trade

Meitav becomes the largest investment house in Israel in terms of assets under management

1,000 employees

Long-Term Savings (LTS): Significant surge across all metrics

Long-Term Savings (LTS): Significant surge across all metrics Segment Profit* (in NIS million)

• AUM have increased by approximately NIS 96 billion from the end of 2020 to the end of the current quarter. As of March 9, 2025, the total AUM amounted to approximately NIS 160.8 billion
• Monthly contributions, in December 2024, of approximately NIS 700 million are made to its pension fund, which manages about NIS 55 billion
• Annual net savings contributions in provident and study funds amounted to approximately NIS 8 billion, while pension savings totaled approximately NIS 10 billion
• Annual growth of 6% in the average management fee rate in provident funds
• Meitav has become the first choice for 32% of new pension fund members in 2024, solidifying its position as a leading pension fund
• Currently, its pension fund ranks third in the number of members among all pension funds, including insurance companies, and first among investment houses.
• Meitav has won the Capital Market Authority's "Chosen Fund" tender for the fourth consecutive time

As at 31/12/2024

* Segment profit excluding effect of legal claims

Short-Term Savings (STS): Continuous performance improvement

• Among the largest providers of mutual funds and portfolio management in Israel, offering a broad range of passive and active investment products
• A variety of mutual funds consistently leading in their categories in returns and Sharpe ratios.
• High ratings in banking rating systems

As at 31/12/2024

Credit Segment: Continued Growth Trend in Both Revenue and Profit

As at 31/12/2024

Retail Brokerage Segment: Continued Growth

• Leading retail trading platform among investment houses in Israel.
• Acquisition of 30,000 costumers in 2024, and significant investment in marketing and technology.

Market share of the trading turnover in shares and bonds on the TASE

9%

Client Assets Accounts

NIS Billion

approximately

88,700

As at 31/12/2024

Retail Brokerage Segment: Successfully Launched with Strong Value Potential

• Meitav Trade was listed on TASE in January 2024 at a price of NIS 4.9 per share and as of March 9, 2025 the share was traded at a price of NIS 18.54 per share
• Meitav Trade's market capitalization, as of March 9, 2025, stands at approximately NIS 736 million

*Number of customers as of the end of the period **Data from the TESE website, March 9, 2025

Creating Value in Alternative Investment and Fintech

Fund holding 19.99% *	Company holding 22.43% Fund holding* 67.5%	Company holding 85.84% Fund holding* 85.84%	Company holding 33.3%
A secondary fund managed by Valoo that directly acquires shares from employees and shareholders in private technology companies in advanced stages.	Reigo Investments is a fintech real estate credit company that has developed loan underwriting technology and manages investment funds as well as loan securitizations in the field. Reigo purchases loans on the P2P platforms in the United States.	Lotus is a leading non-bank credit company specializing in providing credit to real estate developers in Ireland.	Liquidity has developed an advanced system for ongoing underwriting of technology companies, based on automated real-time analysis of their raw information. Liquidity generates credit ratings and manages funds that purchase their future revenue streams as well as granting credit from its own sources (nostro).
The fund specializes in identifying, pricing, and executing secondary transactions involving the target companies.	A fund specializing in providing real estate backed loans in the United States using a unique algorithm for analyzing data and reducing risk.	A credit fund backed by real estate properties in Ireland that finances entrepreneurs investing in the Irish market in short-term loans of up to 24 months.	An investment fund that provides credit to growing technology companies, based on the software and algorithmic platform developed by Liquidity.

Fully diluted holdings, as of December 31, 2024 * Fund holding = holding in the fund's general partner / management company

Meitav in the Community: Extensive Engagement Throughout the Year

Meitav recently published its second ESG report for the years 2022–2023. Here are three key areas of Meitav's community involvement:

Diversity in Employment at Meitav

As part of its social commitment, the group places great importance on employment diversity.

• Promoting Employment for Individuals with Disabilities:

The company's offices are accessible, and a Diversity and Inclusion Coordinator within the HR team maintains close contact with employees with disabilities.

• Employment Development in Peripheral Areas:

Since 2012, Meitav has been one of the largest employers in the Jordan Valley Regional Council, with offices located at Kibbutz Ma'agan.

• Promoting Employment in the Ultra-Orthodox Community:

Meitav aims to establish itself as an attractive employer for the ultra-Orthodox population, given its offices' proximity to these communities in northern and central Israel.

Donations

Meitav emphasizes reducing social disparities through its donation policy, focusing on areas such as financial education, preventing violence against women, and supporting at-risk youth. In 2022, Meitav donated approximately NIS 2 million to over 50 non-profit organizations. In 2023, following the Swords of Iron War, and in 2024, the Company increased its donations to around NIS 3 million.

Meitav takes pride in supporting a wide range of organizations in education, social welfare, and healthcare, and it remains committed to leading the way in community contributions.

Employee Volunteering in the Community

Community support is a core value at Meitav, and the company allows employees to volunteer during work hours.

Since the outbreak of the Swords of Iron War, the spirit of giving and volunteering has surged within the Company. Employees have participated in efforts to support combat soldiers and assisted in harvesting and in agricultural work in Gaza border areas and various communities.

Meitav Leading Experts Across the Media

Financial Statements

Balance Sheet (In NIS Million)

		As of 31.12.2024	As of 31.12.2023
Cash and short-term investments		529	967
Other current assets	2,220	1,653
Total current assets	2,749	2,620
Long term investments		1,127	826
Fixed assets and intangible assets		1,522	1,393
Deferred taxes		79	46
Total assets		5,477	4,885
Net Debt to EBITDA*	Net Debt Excluding Credit companies
0.47	210

	As of 31.12.2024	As of 31.12.2023
Credit from banks and others	1,910	1,699
Liabilities for short sale of securities	91	50
Trade and other payables	439	374
Liabilities for legal claims	676	637
Total current liabilities	3,116	2,760
Debentures	477	606
Other long term liabilities	767	568
Equity	848	722
Non-controlling interests	269	229
Total liabilities and equity	5,477	4,885

Profit and Loss (in NIS Million)

	2024	Q4 2024	Q3 2024	Q2 2024	Q1 2024	2023
Revenue from management fees, commissions and other		356	332	316	297	1,068
Income from non-bank loans activity	318	85	81	89	63	245
Total revenue		441	413	405	360	1,313
Income refund in respect of legal claims against the Company		)2(	-	-	-	)3(
Total revenue		439	413	405	360	1,310
Marketing, operation, general and administrative expenses		271	249	243	241	908
Financing expenses for non-bank loans		38	36	32	28	92
Operating income		130	128	130	91	310
Profit (loss) from securities held for nostro portfolio investments, net		5	2	)1(	6	13
Financing expenses, net		)9(	)22(	)22(	)12(	)69(
Other income )expenses(, net		)3(	)3(	2	)2(	19
Company's share in losses in equity accounted investees		-	)2(	)19(	)6(	)22(
Profit before taxes on income		123	103	90	77	251
Taxes on income		27	32	24	20	94
Profit for the period		96	71	66	57	157
Profit attributed to the shareholders		86	62	58	50	130