Meitav Investment House Ltd.

Investor Presentation • Dec 11, 2024

Investor Presentation

Q3 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 of the , developments in the general 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 Q3, 2024, that was submitted to the Tel-Aviv Stock Exchange and the Israeli Securities Authority on August 19, 2024. 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 413 million, reflecting a 24% increase compared to the same quarter last year.
• Annual revenue run rate* of over NIS 600 million in long-term savings.

AUM: Breaking Records Once Again (In NIS Billion)

• The Company's AUM have shown remarkable growth, increasing by approximately 114% between 2020 and September 30, 2024
• As of November 18, 2024, the total AUM amount to approximately NIS 321 million

Meitav: Selected Financial Data Q3 2024

Normalized EBITDA*

* See details in our 2024 quarter report

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

Normalized EBITDA* )In NIS Million)

• Normalized EBITDA* at a Q3 pace of over 600 Million NIS

Selected Financial Metrics: Over 100% Increase in Q3

Competitive Advantages That Prevail in the Long Run

ONE-STOP SHOP All investment opportunities under one roof

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

• Pension, provident, and education 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
• 8

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.

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

3 employees

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

+137% Long-Term Savings (LTS): Significant surge across all metrics

51 39 37 73 51 121 23 44 2020 2021 2022 2023 9 months 2023 9 months 2024 Q3 2023 Q3 2024 +43% +91% Segment Profit* (in NIS million)

• AUM have increased by approximately NIS 88 billion from the end of 2020 to the end of the current quarter
• Monthly contributions of approximately NIS 600 million are made to its pension fund, which manages about NIS 51 billion
• Net savings contributions in provident and study funds amounted to approximately NIS 7 billion, while pension savings totaled approximately NIS 8 billion since the start of 2024
• 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 30/09/2024

13 * 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

Credit Segment: Continued Growth Trend in Both Revenue and Profit

Retail Brokerage Segment: Continued Growth

• Leading retail trading platform among investment houses in Israel.
• Acquisition of 21,000 costumers in the first 9 months of 2024, and significant investment in marketing and technology.

9% Market share of the trading turnover in shares and bonds on the TASE

Client Assets Accounts

NIS Billion

approximately

16 As at 30/09/2024

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 18.11.24 the share was traded at a price of NIS 10.93 per share
• Meitav Trade's market capitalization, as of November 18, 2024, stands at approximately NIS 433 million

*Number of customers as of the end of the period

**Data from the TESE website, 18.11.24 17

Creating Value in Alternative Investment and Fintech

Fund holding19.99% *	Company holding 20% Fund holding* 51%	Company holding 21.21% 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 as they advance.	New Legend is engaged in locating, developing, producing international TV, film and internet content.	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.	Debt fund for financing film and TV series productions in Israel and the world in a unique financial model	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 buys discounted future revenue streams of emerging technology companies.

18 Fully diluted holdings, as of September 30, 2024 * Fund holding = holding in the fund's general partner / management company

Company

Investment Fund

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

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Financial Statements

Balance Sheet (In NIS Million)

		As of 30.09.2024	As of 31.12.2023
Cash and short-term investments	575	967
Other current assets	1,966	1,658
Total current assets	2,541	2,625
Long term investments	1,111	830
Fixed assets and intangible assets	1,470	1,393
Deferred taxes	67	46
Total assets		5,189	4,894
Net Debt to EBITDA*	Net Debt Excluding Credit companies
0.60	249

	As of 30.09.2024	As of 31.12.2023
Credit from banks and others	1,642	1,699
Liabilities for short sale of securities	42	50
Trade and other payables	443	383
Provisions for legal claims	670	637
Total current liabilities	2,797	2,769
Debentures	611	606
Other long term liabilities	717	568
Equity	803	722
Non-controlling interests	261	229
Total liabilities and equity	5,189	4,894

Profit and Loss (in NIS Million)

	9 Months 2024	Q3 2024	Q2 2024	Q3 2023	2023
Revenue from management fees, commissions and other	945	332	316	274	1,068
Income from non-bank loans activity	233	81	89	60	245
Total revenue	1,178	413	405	334	1,313
Income refund in respect of legal claims against the Company	-	-	-	-	)3(
Total revenue	1,178	413	405	334	1,310
Marketing, operation, general and administrative expenses	733	249	243	227	908
Financing expenses for non-bank loans	96	36	32	23	92
Operating income	349	128	130	84	310
Profit (loss) from securities held for nostro portfolio investments, net	7	2	)1(	2	13
Financing expenses, net	)56(	)22(	)22(	)15(	)69(
Other income )expenses(, net	)3(	)3(	2	)5(	19
Company's share in losses in equity accounted investees	)27(	)2(	)19(	)6(	)22(
Profit before taxes on income	270	103	90	60	251
Taxes on income	76	32	24	27	94
Profit for the period	194	71	66	33	157
Profit attributed to the shareholders	170	62	58	27	130