Capital Market | December 2024

Forward-Looking Information

It should be emphasized that the data provided for the projects detailed in this presentation (slides 3-20, 23-30, 34, 37-56, 60-61) including the Company's estimates in relation to the projected revenue figures, unrecognized gross profit, projected management fees, proceeds from sales, marketing commissions, project simulations and estimated start and end dates of the projects, estimate of construction costs, projected rents, projected loan balance, representative FFO, projected cash withdrawal dates, as well as all the assumptionsincluded in this presentation in connection with the Company'sintention regarding the relevant projects, including the assumptions contained in the slides which include the concentration of data in relation to a certain sector, are forward-looking information, as defined in the Securities Law, 5728-1968, the realization of which is not certain and is not under the control of the Company and/or corporations under its control only, and is based, inter alia, on the experience of the Company and its partners in the said projects and the business plans of the companies holding the aforementioned projects, including the realization of the group'sinventory at the prices predicted by it. These parameters depend to a great extent on external factors, such as the receipt of the permits required for the execution of the projects, including the change of zoning for the Company's lands (both actually receiving them and actually receiving them at the time predicted by the Company and its project partners), the Company's compliance with the requirements of the various authorities and the granting of the relevant permits by them; in the cooperation between the partners, in the decisions made by them during the construction of the projects and in the provision of the required equity capital from them (including from the Company) according to the agreements signed; in the partners' compliance with the terms of the financing agreements signed in connection with the relevant projects (including the provision of equity capital) and in avoiding the grounds for immediate repayment stipulated therein; entering into financing agreements for projects whose implementation has not yet begun; in contracting with a contractor and other suppliers to carry out the projects whose execution has not yet begun and at the costs predicted for this by the Company, which are based on the current market conditions; in the regulation that may apply to the organizers of purchase groups and/or change and/or the tightening of the regulation in the various areas of the Company's activity; in the actual construction and financing costs at the time of their formation (which may change compared to the costs predicted by the Company, including a substantial change), in maintaining the levels ofsales pricesthat currently prevail in the real estate market (which may experience a change, including a substantial change, among other thingsin light of changesin the economic environment in which the Company operates, including the Swords of Iron War and, inter alia, in light of frequent changes in the taxation regulation), as well as in the decisions of the authorities in connection with the approval of land zoning plans; in entering into lease agreements with third parties in the Company's profitable projects and in maintaining the current price level - and there is no certainty that this will be the case in practice. These factors may significantly alter the Company's assessments outlined above. In addition, receipts from management fees in each of the New Ramat Hasharon and Pi Glilot projects are subject to approval in accordance with sharing agreements and their receipt in accordance with the milestones, as well as receipt of the purchase proceeds of the purchasers, deposited in trust accounts, in connection with each of the New Ramat Hasharon and Pi Glilot projects. In the Company's estimation, as of this date, the main factors that may cause the forward-looking information to not materialize is that there will be no change of zoning in the Company's lands in accordance with the intentions of the Company and its partners; the construction of the projects will not be possible or will be delayed for various reasons such as failure to meet the requirements of the authorities for obtaining the permits and/or failure to obtain appropriate permits for the projects or obtaining them at a later date than that predicted by the Company; failure of the partners to comply with the financing agreementssigned in connection with the relevant projects(including equity raising) or occurrence of any of the defaultsset forth therein that will lead, if at all, to a request for immediate repayment of loans; failure of the Company to engage in financing agreements in the relevant projects; the contractor or other suppliers involved in the projects encountering economic difficulties; one of the investors and/or partners of the Company in the relevant projects encountering economic difficulties that prevent them from continuing to finance their share in the projects; deviation from the expected project scope which may result from increases in construction costs, taxes and/or levies imposed on land acquisition and development, and similar; adverse economic environment including consequences of the Swords of Iron War, which will adversely affect the price environment in which the Company operates thereby leading to a reduction in the anticipated sales volume by the Company as well as a reduction in the gross profit as stated by the Company above, failure to engage in lease agreements in relevant projects and/or a decrease in office and/or commercial rental rates which may affect the Company's forecasts. Thus, there is no certainty that the above information will materialize and it may even be significantly different from the above.

It should be emphasized that the information mentioned in the presentation below may not materialize, in whole or in part, or may materialize in a materially different way than that predicted by the Company, both in relation to the Company's forecasts regarding the macro factors and in relation to the rest of the data stated therein.

Legal Clarification

The purpose of this presentation is to present Israel Canada (T.R.) Ltd. (hereinafter: the "Company"), its activities, and financial results. It does not constitute an offer to purchase orsell the Company's securities or an invitation to receive such offers and is intended for the provision of information only. The information presented in the presentation is for purposes of convenience only and does not constitute a basis for making investment decisions, does not replace the collection and analysis of independent information, does not constitute a recommendation or opinion, and does not constitute a substitute for the independent judgment of each investor. This presentation and the information contained therein are not intended to replace the need to review the reports published by the Company to the public, including the Company's periodic report for 2023 (published on March 26, 2024) and the Company's quarterly reports. In any case of a conflict or inconsistency between the information presented in this presentation in a concise and general manner and detailed information that appearsin the Company's periodic reports and/or interim reports, the provisions of the aforesaid reports shall prevail.

BETTER & DIFFERENT

The estimated unrecognized gross profit is estimated at approx. NIS 7 billion (see tables later in the presentation on pp. 42-44, 50-56)

The expected surplus balance at the end of the project, from the main projects in Israel, is estimated at approx. NIS 6 billion (see tables later in the presentation on pp. 42-44, 50-56)

CEO of the Company - Barak Rosen Chairman of the Board – Asaf Touchmair

Projected NOI (the Company's share) after completion of construction of the income-generating properties is expected to reach approx. NIS 500 million (see tables later in the presentation on pp. 45-49)

The equity including minority rights as of September 30, 2024 is approx. NIS 3.3 billion*

The Company is valued at approx. NIS 5 billion. The Company's stock is included in the Tel Aviv 125 Index.

iIA- Rating Positive outlook, Maalot

* Approx. NIS 2.4 billion excluding minority rights

Main Events Since Beginning of Year

Jan. 2024 – Nov. 2024

Scope of apartment, office, and land sales*

million

April 2024

Investment by Clal Insurance (approx. 24.5%) in the Vertical City project, Ramat Gan **

million

May 2024

Dubnov Tel Aviv tender awarded

million

August 2024

Tel Aviv Sde Dov Lot 306 tender awarded

August 2024

Investment by Clal Insurance (15%) in the company ICR

December 2024

Purchase of land in Herzliya

December 2024

Signing agreement to acquire activities from the Brown Hotel Chain

Scope of Activity – approx. NIS 4 billion

(*) Including VAT and subscription agreements (**) Including assuming debt

THE GROUP Areas of Activity

Initiation and Development of

Land and Betterment Projects Hotels Income-generating Properties ICR Residencies

* The protected housing is not a reportable sector according to the accounting rules

PROJECT STATUS

Project Progress

An excavation and support wall permit was obtained.

Marketing began, approx. 25,000 sq. m of offices were sold.

An excavation and support wall permit was obtained, marketing projected to begin – 2025.

Excavation and support wall works have been executed. On the market, 218 apartments sold.*

Occupied. Certificate of Occupancy issued on August 14, 2024.

* Including subscription agreements, data as of date of publication of last report.

Actual performance of excavation and support wall works. On the market, 210 apartments and approx. 2,000 sq. m of office space sold.*

The "Shaarei Tzedek" complex in Jerusalem, with an area of approx . 17 dunams, intended for the construction of a mixed -use residential, commercial, office , and hotel project with a scope of approx . 170 ,000 sq . m, which includes :

Two 40 -story residential towers with a total area of approx . 41 ,000 sq . m for marketing, commercial space, offices, and hotels with a total gross area of approx . 75 ,000 sq . m in two 40 -story towers, a building for preservation designated as a hotel with a gross area of approx . 5 ,250 sq . m and approx . 12 ,000 sq . m of public buildings . A project that includes approx . 893 apartments, of which approx . 200 are apartments for long -term rental, while utilizing the full areas for construction under the City Building Plan .

Construction and Development of Projects in Israel

Project details

Status Marketing

As of November 26, 2024, 210 apartments were sold, for a total consideration of approx. NIS 866 million,* as well as approx. 2,000 sq. m of office space, for approx. NIS 55 million.**

E xcavation and support wall works are in the final stages. A first full permit is expected by the end of the last quarter of 2024.

Winning price

Approx. NIS 538 million

Company share

73 %

* Including VAT and registratio n deeds . ** I ncluding VAT .

Image for illustrative purposes only

Project Details

Lot with a 1,600 sq. m. area, which previously housed the Bank Leumi Building, on the corner of Yehuda Halevi and Herzl streets, Tel Aviv.

Status

City Building Plan to construct a 40-story tower with a total area of approx. 38,000 sq. m, including: 102 apartments with an area of approx.11,000 sq. m, office and commercial spaces with an area of approx. 25,000 sq. m, public buildings with an area of 2,370 sq. m. The building has been demolished to prepare for execution. A design plan has been approved, an excavation and support wall permit has been issued and a full permit is expected to be issued during 2025. Excavation and supoort wall works are expected to begin in the first quarter of 2025.

Acquisition Cost (100%)

Project details

Land including seven lots in the "Beit Hane 'ara " complex in Hod Hasharon, with a total area of approx . 38 . 7 dunams . The land is located in the Kfar Hadar neighborhood in the western part of Hod Hasharon, in the complex known as "Beit Hane 'ara " .

Status

The land is subject to a City Building Plan allowing the construction of 534 apartments . In a District Planning Committee hearing in June 2024 , a decision was made to increase the density and add 130 residential units without increasing the area .

Price of the land

Approx. NIS 664 million

Company share

50 %

Project details

According to City Master Plan/3001 , a lot with an area of approx . 8 . 6 dunams, designated for the construction of 480 residential units and approx . 2 ,000 sq . m of commercial space .

Status

Existing construction rights in the property are for the construction of 480 apartments, on an area of approx . 60 ,000 sq . m, and approx . 2 ,000 sq . m of commercial space . A luxury project is planned on the land, which will include a 39 -story tower, alongside six perimeter -block buildings, commercial space, green areas, swimming pools, and areas for the residents' well -being .

On March 21 , 2024 , an excavation and support wall permit was is sued and the Company began performing the works . An application for a full building permit has been submitted . In October 2024 , a bank financing agreement was signed .

Marketing

As of November 26 , 2024 , 218 apartments were sold, for total consideration of approx . NIS 1 ,895 million including VAT . *

Price of the land

Approx. NIS 1.3 billion

Company share

100 %

* Including VAT and registration deeds

Lot 306 Sde Dov Complex

Project Details*

4.5 dunams

Land Area

18,150 sq. m Office space

5,400 sq. m Logistical space

2,500 sq. m Commercial space

Rationale and Acquisition Strategy

Acquisition of the lot will substantially expand the "Rainbow Resort, " amplify the entire project, and create planning, execution and operational synergy between the lots. It will also complete the project, making it a bustling multi-use urban block, while maintaining maximum control of the entire complex.

The project is in the stages of planning and design plan preparation. Project architect – Moshe Zur.

* Area includes main and service areas.

156 -160 Herzl Complex Tel Aviv

Project details

In September 2021 , the Company, together with partners, was awarded a tender by Discount Bank and Reality Investment Fund for the acquisition of land at 156 -160 Herzl Street in Tel Aviv, with an area of approx . 12 . 4 dunams .

Status

The Company and its planning consultants are working with the Tel Aviv Municipality to bolster the residential, office , and com mercial rights at the complex .

Price of the land

Approx. NIS 685 million

Company share

38 %

4-6 Dubnov Complex, Tel Aviv

Project details

In May 2024 , the Company was awarded a tender by the Israel Land Authority for the purchase of land at 4 - 6 Dubnov Street in Tel Aviv, with an area of approx . 2 . 4 dunams . It is designated for the construction of a tower of up to 45 floors including up to 170 residential units, 17 ,500 sq . m of commercial and office space (gross aboveground area) and approx . 1 ,500 sq . m (net) of public spaces . In August, the Company and its partner completed the acquisition of rights in the Dubnov tender .

Status

The Company has begun detailed planning of the project .

* Including VAT

Bavli, Tel Aviv

Project details

In February 2021 , the Company, together with B . S . R . , entered into an agreement to acquire 100 % of the shares in Urban Bavli Tel Aviv, which owns approx . 83 % of the urban renewal project in the Bavli neighborhood of Tel Aviv, for the construction of 299 apartments in nine residential buildings of nine floors, with total aboveground construction areas of approx . 37 ,200 sq . m, and approx . 14 ,500 sq . m underground construction areas . The share of Israel Canada and B . S . R . in apartments for marketing is approx . 134 apartments .

Status

The Company and its partner are advanc ing the issuance of a building permit . Marketing of the project recently begun .

Company share

50 %

Project details

Construction has been completed on a residential project including 69 apartments and approx . 260 sq . m of commercial space .

Status

On August 14 , 2024 a Certificate of Occupancy (Form 4 ) was issued for the Project . The Project is occupied .

Marketing

As of November 26 , 2024 , 63 apartments were sold (approx . 91 %), for total consideration of approx . NIS 322 million . *

Price of the land

Approx. NIS 77 million

* Including VAT

Image for illustrative purposes only

Income -Generating Real Estate

VERTICAL CITY

Project details

In the "Stock Exchange Triangle" complex in Ramat Gan, land with an area of approx . 9 ,600 sq . m for the construction of a project that will include offices, commercial space, apartments for long -term rental, and student dormitories .

Status

Existing City Building Plan for 176 ,000 sq . m, 75 ,000 sq . m are designated for sale . On D ecember 1 , 2024 , an excavation and support wall permit was issued . The Local Council recommended increasing the project ' s scope to approx . 350 ,000 sq . m (floor area ratio (FAR) 30 ) . Construction is expected to begin in Q 1 2025 . In April 2024 , Clal became a partner in the project .

Marketing

As of November 26 , 2024 , approx . 25 ,000 sq . m of offices were sold, for a consideration of approx . NIS 796 million . *

Price of the land

Approx. NIS 936 million

Company share in the land

55.9 % Clal 24.5% B.S.R. 19.6 %

* Including VAT

Project details

Office and commercial space of approx. 44,000 sq. m. Lease agreement with Microsoft for 21 years (including a six-year option). Occupancy of building by Microsoft took place in July 2020.

Projected NOI (100%) assuming full occupancy

Approx. NIS 66 million

Company share

24% Main additional partners: Tidhar, Acro, and Allied.

Annual income based on signed contracts (including offices owned by the Company)

Approx. NIS 40 million

per year

Be Pharm Tesla Zappa Club

Arcaffe Moses Chain

Aroma Yullia Maison Kayser

Performance Rock Climbing Wall

Project details

Residential: two 42-story towers, 412 apartments. Offices: nine-story building, approx. 31,800 sq. m. The Company owns approx. 6,600 sq. m of offices,* 600 sq. m of commercial space, and a public parking lot, which is intended to be used as an income-generating asset.

Status

Completed + occupancy

Projected NOI assuming full occupancy (Company share)

Approx. NIS 21 million

*Company's share indirectly held

Israel Canada House (formerly Eurocom House) 2-4 Dov Friedman Street, Ramat Gan

Project details

Land with an area of approx . 2 ,056 sq . m, which is subject to a City Building Plan in effect allowing the construction of an office tower with an area of approx . 27 ,000 sq . m . The project Company ' s share in the rights is approx . 85 % .

Status

In May 2024 , the Ramat Gan Local Committee decided to recommend to the District Committee to conditionally deposit a plan to increase building rights at the complex for construction of a 65 -story tower for mixed office , residential, and commercial use . The scope of tradable building rights under the plan is approx . 91 ,000 sq . m, of which approx . 23 ,000 sq . m are residential, 400 sq . m are commercial, and an additional approx . 7 ,000 sq . m are for public buildings . The Company has met the conditions and is preparing to deliver the plan to the District Committee .

Company share

50 %

Real Estate in Israel

Lapid Complex Eilat Street, Tel Aviv

Project details

The Company owns land with an area of 7 ,557 sq . m in the Lapid Complex on Eilat Street in Tel Aviv .

Status

In April 2021 , the Tel Aviv Local Committee recommended to the District Committee to deposit a plan that includes 123 ,000 sq . m .

The Company's share of the above rights is approx . 33 ,000 sq . m distributed into 55 % residential and 45 % hotels (approx . 18 ,000 sq . m for residential purposes and approx . 15 ,000 sq . m for hotels) .

Purchase cost

Approx. NIS 212 million

Project company ' s share of the expected rights

Approx. 33 thousand sq. m

Company share

Gross profit expected from the project (100 %

)

Approx. NIS 915 million

Project details

Land with an area of approx . 54 dunams, located in the northern industrial area of Netanya . The land has buildings with a total area of approx . 21 ,426 sq . m that are rented for an annual cons ideration of approx . NIS five million .

Status

The Company is promoting a plan under the authority of a District Committee for a mixed use project with building rights in the scope of approx . 200 ,000 sq . m . In the future, the Company intends to promote a City Building Plan under the authority of a District Committee for the addition of building rights in the scope of approx . 150 ,000 sq . m .

Marketing

As of November 26 , 2024 , approx . 19 . 9 dunams were sold (approx . 37 %), for a consideration of approx . NIS 137 million (excluding VAT) .

Price of the land

Approx. NIS 134 million

Project company ' s share of the expected rights

Approx. 33 thousand sq. m

Company share

60 %

The partners 'share is 40 % . Gross profit (100 % ) expected from the project*

Approx. NIS 215 million

(Gross profit recognized approx. NIS 50 million)

* As of S eptember 30, 2024

Real Estate in Israel

Project details

Land with an area of approx. 62 dunams, known as the Elco Complex and located in the eastern part of Ramat Hasharon, purchased in March 2015.

Status

The Company is working with the District Committee to change the zoning of the land to residential, office, and commercial use.

On February 29, 2024, the Company received the District Committee minutes, according to which the plan was approved. The plan includes 600 apartments (of which 120 are apartments for rent) and approx. 150,000 sq. m of office and commercial space.

The Company is awaiting the results of a hearing on an appeal filed against the City Building Plan.

Marketing

As of November 26, 2024, 587 residential units** and approx. 53,000 sq. m of office space*** were sold.

Price of the land

Approx. NIS 169 million

Company share

81% Partners' share is 19%

Gross profit (100%) recognized from the project*

Approx. NIS 260 million

*As of September 30, 2024.

**Rights in the land reflecting a right to a residential unit, subject to approval of a city building plan and the provisions of a cooperation agreement signed with the purchasers.

***Rights in the land reflecting, in the Company's estimation and according to the plan currently in the process of approval, rights for office space with an area of approx. 53,000 sq. m.

Real Estate in Israel

detailsect ojPr

with ndla wnso ypanCom The an sshare nda dunams 34 .xoappr of aare in ycompan the Pi edteclref ear which ,otGlil in an ,yentlRec .dunams 17 .oxappr alontiaddi it tath dorterep was dreepapr nlap the by ingusHo ytrioriP for eteitmCom ingBuild and anninglP alontiNa eth vedoappr was sArea for dhel ndla The .deposit by ypanCom the is dludeinc in the of copes eth program (with the exception of ordingAcc .included) tno are which smduna six .oxappr to eth publications, the program includes approx . 18 ,500 residential units (including units at a reduced price, units for assisted living, and rental units) as well as approx . 1 . 1 million meters for office areas, public areas, a park, and other areas . After approval of the plan, including the allocation tables to be prepared thereunder, the building permits can be moved forward, in accordance with the conditions set forth in the plan .

Marketing

As of November 26 , 2024 , 23 . 6 dunams were sold for a consideration of approx . NIS 218 million (excluding VAT) .

Purchase cost - land

Approx. NIS 133 million

Purchase cost - Pi Glilot shares

Approx. NIS 53 million

Company share

% The partners' share is 36%.

Gross profit (100 % ) expected from the project*

Approx. NIS 201 million

(Gross profit recognized approx . NIS 72 million)

Emek Bracha, Tel Aviv

Project details

Purchase of approx. 80% of land with an area of approx. 2.1 dunams on Emek Bracha Street in Tel Aviv. Acquired in two transactions in June and September 2022.

Status

The land is subject to a City Building Plan in effect, 3401/A, which approves building rights in a scope of approx. 20,000 sq. m for residential and office purposes. The Company intends to submit a City Building Plan for a significant increase in construction rights for residential/hotel and office uses.

Cost of land

Approx. NIS 134 million

Real Estate in Israel

Herzliya – The Northern Quarter

Project details

The purchase of land wth an area of approx. 25 dunams in Plot 18, Block 6663, Herzliya.

Status

The land is zoned for agriculture within the 3006 National Plan.

Cost of land

Approx. NIS 146 million

Hotels

Hotels in Northern Israel

Hotels in Central Israel

Hotels in Southern Israel

Hotels in Greece

Hotel in Jerusalem

302 Rooms Dead Sea

73 Rooms Eilat

113 Suites Ashdod

Hotels

C Chairman of the Board Barak Rosen

Established in 2019

CEO Reuven Elkes (Former CEO of Fattal Hotel Chain)

July 2022 – Entrance of Menora (15%) according to a value of NIS 600 million (after funds)

1,748 Hotel Rooms

EBITDA 2023 NIS 48 million

Projected EBITDA 2024 NIS 52 million

HOTELS

Acquisition of Brown Hotels Activity*

BEFORE

AFTER

Rooms in Israel	Rooms in Greece	Total Rooms	Rooms in Israel	Rooms in Greece	Total Rooms
1,647	101	1,748	2,426	1,117	3,603
Hotels in Israel	Hotels in Greece	Total Hotels	Hotels in Israel	Hotels in Greece	Total Hotels
13	3	16	23	11	34
	Projected EBITDA for 2024 – NIS 52 million	approx.		Projected EBITDA for representative year – NIS 84 million	approx.

* Data based on assumption all relevant agreements are signed and all approvals required under law are granted.

ICR NUMBERS Financial Data

*Israel Canada holds 42.5% of ICR

**The data presented is as of November 21, 2024, and includes signed contracts.

***On November 25, 2024, ICR entered into an agreement with a third party for the sale of all its land holdings in "French Hill" Jerusalem, for a total consideration of NIS 300 million plus VAT, to be received according to the terms of the agreement. All images are for illustrative purposes only.

In Marketing

Demolition and Reconstruction**

Under Planning and Lands

VAT, to be received according to the terms of the agreement.

**Projects with a signature rate of over 67%.

All images are for illustrative purposes only.

Consolidation of Data

(3) Project name	Company's share in the project	Status	Marketing scope as of September 30, 2024	Marketing scope as of publication of the latest financial report	Estimated date for cash withdrawal from the project(2)	Balance of inventory in books as of September 30, 2024 in NIS thousands	Projected income balance (100%) as of September 30, 2024 in NIS thousands	Projected income balance (Company's share) as of September 30, 2024 in NIS thousands	Gross profit balance not yet recognized (1) (Company's share) in NIS thousands	Projected gross profit rate	Balance of surplus projected at project completion after taxes (Company's share) in NIS thousands
1 13 Ahad Ha'am Street	95%	Under construction	91%	91%	By 2025	25,550	59,106	56,151	18,150	32%	31,307
Yehuda Halevi, Tel Aviv 2 (6)	81%	City Building Plan in force	-	-	By 2029	443,039	1,932,644	1,565,442	522,819	33%	463,213
3 Midtown Jerusalem (7)	73%	City Building Plan in force	28%	29%	By 2029	687,868	5,245,707	3,829,366	739,265	19%	588,648
Beit Hane'ara Complex, 4 Hod Hasharon (8)	50%	City Building Plan in force	-	-	To be determined	417,971	2,969,903	1,484,951	324,688	22%	250,010
5 Sde Dov, Tel Aviv (9)	100%	City Building Plan in force	44%	45%	By 2029	1,545,606	3,453,841	3,453,841	634,641	18%	957,129
Vertical City, Ramat Gan 6 (11)	56%	City Building Plan in force	29%	33%	By 2031	356,498	2,093,224	1,170,112	267,851	23%	359,840
7 Dubnov, Tel Aviv (12)	80%	City Building Plan in force	-	-	To be determined	373,824	1,702,659	1,362,127	393,393	29%	338,092
Total						3,850,356	17,457,084	12,921,990	2,900,807		2,988,239

Purchase Groups (Table 2)

1	Turquoise	100%	In planning	91%	91%	To be determined	16,583	29,380	29,380	12,797	44%	26,437
	Total						16,583	29,380	29,380	12,797		26,437

Management Fees (Table 3)

1	Blue Coast Herzliya	0%	In planning	100%	100%	On the plan approval date	177	14,000	14,000	14,000	100%	14,000
	Total						177	14,000	14,000	14,000		14,000

Consolidated Estimate of Data in Main Projects in Israel

Investment in Land (Table 4)

	Project name(3)	Company's share in the project	Status	Marketing scope as of September 30, 2024	Marketing scope as of publication of the latest financial report	Projected date for cash withdrawal from the project(2)	Balance of inventory in books as of September 30, 2024 in NIS thousands	Projected income balance (100%) as of September 30, 2024 in NIS thousands	Projected income balance (Company's share) as of September 30, 2024, in NIS thousands	Gross profit balance not yet recognized (1) (Company's share) in NIS thousands	Expected gross profit rate	Balance of surplus projected at project completion after taxes (Company's share) in NIS thousands
1	Lapid complex, Tel Aviv (5)	60%	In planning	-	-	To be determined	181,472	2,454,255	1,472,553	548,298	37%	472,442
	Residential rights New Ramat Hasharon	81%	In planning/rezoning	98%	98%	To be determined				422,398
2	Office rights New Ramat Hasharon (4)	81%	In planning/rezoning	34%	36%	To be determined	5,027	526,506	426,469		100%	325,246
3	Tzamarot, Hod Hasharon Shvil Hatapuzim	80%	In planning/rezoning	95%	95%	On the plan approval date	802	37,702	30,162	29,359	97%	23,409
4	Hatzuk Hatzfoni	100%	In planning	-	-	To be determined	63,514	156,500	156,500	96,194	61%	120,505
5	Glilot Complex and Uptown shares	64%	In planning	61%	61%	To be determined	56,483	226,154	144,738	88,256	61%	124,440
6	Hod Hasharon West	100%	In planning	90%	90%	To be determined	2,159	7,535	7,535	5,300	70%	6,316
7	Sunset North Tel Aviv	100%	In planning	44%	44%	To be determined	72,971	126,480	126,480	45,829	36%	115,939
8	Israel Canada Business Village Netanya	60%	In planning	37%	37%	To be determined	54,592	256,275	153,765	99,373	65%	121,328
9	Beit Mars, Tel Aviv (3),(10)	38%	In planning	-	-	To be determined	306,334	2,310,453	877,972	189,242	22%	216,593
	Total						743,354	6,101,860	3,396,174	1,524,249		1,526,218

	Total tables 1-4						4,610,470	23,602,324	16,361,544	4,451,853		4,554,894

Consolidated Estimate of Data in Main Projects in Israel

Footnotes

1. Assuming full realization of inventory at prices corresponding to actual sales. Where there are no actual sales, the Company relies on market prices or subscriptions.
1. The date does not refer to the date of receipt of the management fees included in the respective projects.
1. Beit Mars and Vertical City are projects presented in the Company's financial statements under the Investment in Affiliated Companies section.
1. Ramat Hasharon: For details, see Section B of the Board of Directors Report dated September 30, 2024, published on November 27, 2024.
1. Lapid, Tel Aviv, the above table includes all the expected rights in the project. For the purpose of calculating the gross profit, a residential sales price of approx. NIS 110 thousand per sq. m was used. The interest rate was updated according to the prime interest rate known at the time of publication of the reports.
1. Yehuda Halevy, She Project, Bank Leumi Building, Tel Aviv: The above table includes all the expected rights in the project. For the purpose of calculating the gross profit, the sales prices are identical to the estimates detailed in the periodic report dated December 31, 2023, published on March 26, 2024. The interest rate was updated according to the prime interest rate known at the time of publication of the reports. It should be noted that the office and trading rights are presented in the Investment Real Estate section of the Company's financial statements.
1. Midtown Jerusalem: The above table includes all the expected rights in the project. The sales prices of the residential rights are based on the actual sales prices. The remaining prices of the other rights are identical to the estimates detailed in the periodic report dated December 31, 2023, published on March 26, 2024. The interest rate was updated according to the prime interest rate known at the time of publication of the reports. It should be noted that the rental residence rights, and some of the rights for offices, hotels and commercial space, are presented in the Investment Real Estate section of the Company's financial statements.
1. Beit Hane'ara, Hod Hasharon: For the purpose of calculating the gross profit, a residential sales price of NIS 42 thousand per sq. m was used. The interest rate was updated according to the prime interest rate known at the time of publication of the reports.
1. Sde Dov, Tel Aviv: The above table includes all the expected rights in the project. For the purpose of calculating the gross profit, residential sales prices are based on actual sales prices. It should be noted that the commercial rights are presented in the Investment Real Estate section of the Company's financial statements.
1. Beit Mars, Tel Aviv: The above table includes the expected rights in the project according to FAR 5. The Plan is under the Local Council's jurisdiction.
1. Vertical City, Ramat Gan: Starting from the fourth quarter for the period ending on December 31, 2023, the affiliated company transferred 75,000 sq. m of offices from the Investment Real Estate Section to the Inventory section.
1. Dubnov, Tel Aviv: The above table includes all the project's expected details. The transaction was completed at the end of August 2024. For the purpose of calculating the gross profit, a residential sales price of NIS 90 thousand per sq. m was used.
1. Regarding ICR's main projects, see the following tables.
1. The table does not include the land in Herzliya The Northern Quarter appearing on slide 31.

Properties Actually Rented and/or Available for Rent (Table 1)

								Projected NOI in	Projected NOI in	Debt for the asset (in NIS thousands)				Occupancy rate/
	(1) Project name	Location	Asset purchase date	Company's share (indirectly)	Description	Balance in books as of September 30, 2024 in NIS thousands(3)	Total office/commercial spaces to be constructed	an annual calculation (assuming full occupancy) (100%) in NIS thousands(4)	an annual calculation (assuming full occupancy) (the effective Company share) in NIS thousands	Debt balance as of September (3) 30, 2024	Annual interest rate on the debt	Final repayment date of the debt	LTV as of September 30, 2024	rate of property areas for which binding leases were signed as of September 30, 2024
1	Midtown Tel Aviv (commercial and parking) (5)(11)	Tel Aviv	2011	81%	Commercial spaces in the Midtown project (built by the Company and partners)	495,719	Approx. 16,000 sq. m and parking lot including approx. 702 parking spaces	30,821	24,965	348,692	Approx. 73% of the loan amount: Index+4.09% Approx. 27% of the loan amount: 3.8%	March 14, 2030	70%	100%
2	Sea Tower (Microsoft)	Herzliya	2016	24.13%	An office and commercial structure in Herzliya Pituach that was built by the Company and partners, and is fully leased to Microsoft	1,269,110	Approx. 44,000 sq.m of office space, approx. 3,000 sq.m of commercial space and land with construction rights for approx. 7,000 sq.m for commercial and office space	66,390	16,020	834,930	Approx. 90% of the loan amount: Index+1.29% Approx. 10%: Bank of Israel interest + 1.75	September 10, 2035	66%	100%
3	Two office floors in the Midtown Tel Aviv project	Tel Aviv	2011	100%	Two office floors in a project built by the Company	84,700	Approx. 3,100 sq.m and 44 parking spaces	4,413	4,413	38,016	3.3% shekel	March 26, 2026	45%	100%
4	Israel Canada House (formerly: America House)(2)	Tel Aviv	2019	36%	A 13-story building above the ground floor for offices and commercial space	221,477	7,800 offices and approx. 600 sq.m of commercial space	10,972	3,950	112,563	Prime+ 1%- 1.5%	September 1, 2029	51%	96%
5	Office floor in the Elifelet Project	Tel Aviv	2010	100%	Office floor in a project built by the Company	28,520	1,675 sq.m and ten parking spaces	2,272	2,272	15,568	Index-linked+ 2.55% - 0.94%	June 26, 2025	55%	100%

Properties Actually Rented and/or Available for Rent (Table 1) (Cont.)

				Company's share (indirectly)	Description	Balance in books as of September 30, 2024 In NIS thousands(3)	Total office/commercial spaces to be constructed	Projected NOI in	Projected NOI in		Debt for the asset (in NIS thousands)			Occupancy rate /
	(1) Project name	Location	Asset purchase date					an annual calculation (assuming full occupancy) (100%) in NIS thousands (4)	an annual calculation (assuming full occupancy) (the effective Company share) in NIS thousands	Debt balance as of September (3) 30, 2024	Annual interest rate on the debt	Final repayment date of the debt	LTV as of Sept. 30, 2024	rate of property areas for which binding leases were signed as of September 30, 2024
6	Office floor in the Haholshim Project (12)	Herzliya	Various dates	59%	Office floor in a project built by the Company	85,019	4,950 sq.m and 89 parking spaces	5,408	3,198	50,646	Approx. 65% of the loan amount: Prime+1.1% Approx. 35% of the loan amount: Index linked 3.6%	Approx. 65% of the loan amount: December 29, 2035 Approx. 35% of the loan amount: July 7, 2026	59%	100%
7	LIVE TLV	Tel Aviv	2010	100%	Commercial spaces in a project built by the Company	3,189	125 sq.m commercial	240	240	---	---	---	---	100%
8	Office, commercial, and parking lot in the Da Vinci Project (2)	Tel Aviv	2016	50%	A residential and commercial project built by the Company and partners by way of a purchase group	448,588	Approx. 9,000 sq.m office space, approx. 1,200 sq.m commercial space, and approx. 270 parking spaces	32,166	16,083	286,781	Index-linked - 3.8% - 3.615%	August 6, 2028	64%	97%
9	Office spaces in the Da Vinci Project (6)	Tel Aviv	Various dates	100%	A residential and commercial project built by the Company and partners by way of a purchase group	70,686	Approx. 2,340 sq.m	5,526	5,526	41,538	Index-linked - 4.72%	July 5, 2026	59%	69%
	Total					2,707,008		158,208	76,667	1,728,734

Properties Under Construction (Table 2)

	(1) Project name				Description		Projected costs to complete the project (100%) in NIS thousands	Total office/commercial spaces to be constructed			Projected NOI	Debt for the asset (in NIS thousands)
		Location	Asset purchase date	Company's share (indirectly)		Balance in books as of September 30, 2024 in NIS thousands(3)			Projected construction completion date	Projected NOI in an annual calculation (assuming full occupancy) (100%) in NIS thousands(4)	in an annual calculation (assuming full occupancy) (the effective Company share) in NIS thousands	Debt balance as of September (3) 30, 2024	Annual interest rate on the debt	Final repayment date of the debt	LTV as of September 30, 2024	Occupancy rate / rate of property areas for which binding leases were signed as of September 30, 2024
1	Midtown Jerusalem project (offices, apartments for rent, hotels, and commerce)	Jerusalem	2020	73%	An integrated project for residences, offices, hotels, and commerce (residential rights are classified in the field of real estate development and land investment)	346,774	2,012,698	Approx. 58,000 sq.m of office space, approx. 13,200 sq.m of residential space for lease, approx. 6,000 sq.m of commercial space, approx. 15,000 sq.m of hotel space and approx. 650 parking spaces	2029	141,877	103,570	235,336	Prime+ 0.84%	March 31, 2025	68%	---
2	Office spaces in the Canada City project (formerly Bank Leumi)	Tel Aviv	2018+ 2020	81%	Integrated residential, office, and commercial project	161,873	528,484	25,054 sq.m	2029	62,146	50,338	102,718	Prime+ 1%	March 31, 2025	63%	---
3	Lot 4006	Herzliya	---	9.5%	Office and commercial project	169,296	136,625	Approx. 23,000 sq.m above ground office and commercial space	Third quarter 2025	To be determined	To be determined	80,300	Prime+ 1.5%	October 30, 2026	41%	---
4	Lot 4001	Herzliya	---	29.3%	There is an approved plan on the lot for 26,000 sq.m above ground, of which 24,000 sq.m are office and 2,000 sq.m commerce.	35,463	---	---	---	To be determined	To be determined	---	---	---	---	---
	Total					713,406	2,677,807			204,023	153,908	418,354

Consolidation of Real Estate for Investment Properties in the Planning Stages (Table 3)

	(1) Project name	Location	Asset purchase date	Company share (indirectly)	Description	Balance in books as of Sept. 30, 2024 in NIS thousands(3)	Estimated costs to complete the project (100%) in NIS thousands	Total office/ commercial spaces to be constructed	Estimated conclusion date of the construction	Projected NOI in an annual calculation (assuming full occupancy) (100%) in NIS	Projected NOI in an annual calculation (assuming full occupancy) (the effective	Debt for the asset (NIS thousands) Debt balance as of Annual interest Final repayment			LTV as of Sept. 30, 2024	Occupancy rate/ rate of property areas for which binding leases were signed as of Sept. 30, 2024
										thousands (4)	Company share) in NIS thousands	(3) Sept. 30 , 2024	rate on the debt	date of the debt
1	Vertical City Project (Stock Exchange Triangle Complex)(2), (7) (10)	Ramat Gan	2021	55.9%	A project intended for the construction of office, residential and commercial towers that include: 400 apartments for multi-unit construction for long-term rental purposes, 350 units for student dormitories, public buildings and institutions, and perimeter-block construction for office and commerce	1,014,000	2,090,836	117,429	2030	206,923	115,670	492,045	Prime+ 0.2%	November 15, 2024	49%	---
2	Israel Canada House (formerly: Eurocom House)	Ramat Gan	2018 - 2020	51.1%	Office and commercial tower construction project	421,000	1,131,218	63,000 sq.m office and 2,000 sq.m commercial space	To be determined	122,850	62,776	121,574	Prime+ 0.55%	November 30, 2024	29%	---
3	Dubnov	Tel Aviv	2024	80%	Project designated for construction of office, residential, and commercial towers	111,192	228,048	17,500 sq.m commercial and office space	To be determined	36,348	29,078	84,922	Prime+ 0.15%	Approx. 18% of the loan amount, repaid in Oct. 2024, Approx. 82% of the loan amount: Aug. 21, 2027	76%	---
4	Lot 306 at Sde Dov Complex	Tel Aviv	2024	100%	Project designated for construction of commercial, logistical, and office space	128,871	349,452	18,150 sq.m. office, 5,400 sq.m. logistical, 2,500 sq.m. commercial	To be determined	49,116	49,116	95,114	Prime+ 0.3%	Approx.18% of the loan amount, repaid in Dec. 2024, Approx. 82% of the loan amount: Oct. 25 2026	74%	---
5	Rainbow, Sde Dov complex	Tel Aviv	2021	100%	A residential project that includes 2,000 sq.m of commercial space	42,237	14,319	Approx. 2,000 sq.m	2029	5,072	5,072	---	---	---	---	---
6	Office and commercial spaces in the Lamed Project(9)	Tel Aviv	December 2016	90%	Six-story office and commercial building	18,904	039,45	3,100	To be determined	6,996	6,296	---	---	---	---	---
	Total table 3					1,736,204	3,858,912			427,305	268,008	793,655
	Total tables 1-3					5,156,618	6,536,719			789,536	498,583	2,940,743

Footnotes

1. The table does not include the Company's share in land in Kadima Zoran, with a value of approx. NIS 19,400 thousand, and land in Herzliya valued at NIS 103,551 thousand appearing in the section Real Estate for Investment.
1. In the financial statements, the projects are included in the section Investment in Affiliated Companies.
1. Data is according to 100%, including data for affiliated companies.
1. The NOI is calculated according to full occupancy.
1. The table does not include hotel spaces that are leased to a subsidiary and are included in the Fixed Assets section of the Company's financial statements.
1. The Company (through a wholly-owned and controlled subsidiary) purchased office space from third parties at various times.
1. The data is presented in accordance with the rights that were known before the approval by the Local Council of deposit of the City Building Plan received in July 2024, according to FAR 18.
1. In mixed-use projects, areas in the table do not include residential rights areas.
1. On December 19, 2021, the District Council approved the City Building Plan TA/MK/4802 promoted by the Company, which authorizes the construction of a six-story office and commercial building (including the ground floor) in a project with a total gross area of approx. 8,675 sq. m (above and below ground). The Company's share of the total rights is approx. 4,970 sq. m.
1. In light of the signing of sales contracts in significant scopes and rates (33%), the affiliated company decided that construction rights for offices in a scope of approx. 75,000 sq. m from all of the real estate for investment in the project will be reclassified as of October 2023, as long-term real estate inventory in lieu of real estate for investment as presented from the purchase date of the land. The data in the table below relates only to the rights classified as real estate for investment.
1. In October 2023, a subsidiary purchased 75 parking spaces (including multipliers) in the project. At this stage, the additional parking spaces have not yet been rented and therefore are not included in the NOI calculation.
1. In January 2024, the Company signed an agreement to purchase half an additional office floor in the project under an existing lease agreement. The transaction was completed in August.