Meitav Investment House Ltd.

Investor Presentation • Aug 26, 2024

Investor Presentation

Q2 2024

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, including the Company's proposal as noted on slide No. 13, is uncertain and is not under the Company's control. Information relating to a forecast of the Company's revenues and profitability, is all forwardlooking 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 forward-looking 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 Q2, 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)

Meitav: I.D. Results over 40 years of experience, professionalism

Maya Holdings is controlled by Mr. Avner Stepak BRM Finance is controlled by Mr. Eli Barkat As at 30/06/2024

and fairness

1,260 296 A1 As at 30/06/2024 As at 30/06/2024 As at 30/06/2024

AUM Bond Rating

Meitav: Segments

Q2 2024 Achievements

Annual rate*** of revenue of more than NIS 600 million in LTS segment

The group's total revenue** is NIS 404 million, an increase of 23% compared to the corresponding quarter last year

The AUM of the group increased this quarter by 3% to a total of NIS 296 billion

Annual rate*** of normalized EBITDA* of more than NIS 500 million

* See details in our 2024 quarter reports

• ** Including Nostro
• *** Based on the current quarter's data

Change in AUM (in NIS Billion)

Provident Funds, Study Funds and Pension Funds Portfolio Management ETFs & Tracking Funds Mutual Funds

Meitav: AUM (in NIS Billion)

77.1 Portfolio Management

36.9 Mutual Funds

139.2

Provident Funds, Study Funds and Pension Funds

42.9 ETFs & Tracking Funds

296.1

As at 30/06/2024

Meitav: Selected Financial Data Q2 2024

Revenues*

Normalized EBITDA**

Other EBITDA is negative and amounts to about (11)%

*Including Nostro

** See details in our 2024 quarter reports

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

Meitav: Selected Financial Data (in NIS Million)

	H1 2024	Q2 2024	Q1 2024	Q2 2023	2023
Revenues*	770	404	366	329	1,326
Expenses	544	275	269	246	1,000
EBITDA	250	137	113	131	415
Normalized EBITDA**	251	135	116	102	392
Profit for the period	123	66	57	53	157
Profit attributed to the shareholders	108	58	50	46	130
Profit excluding provisions for legal claims***	144	81	63	63	189

*Including Nostro

9

** See details in our 2024 quarter reports

***Mainly financing expenses for the court ruling in a class action

EBITDA Q2 2024 Profit before tax 90 Depreciation and amortization 25 Financing expenses, net 22 EBITDA 137

Segment Analysis

LTS

Long-Term Savings (LTS)

As at 30/06/2024

• An increase of NIS 33.5 billion in AUM compared to June 30, 2023
• Monthly deposits of approximately NIS 600 million in the pension funds ,which manage approximately NIS 47 billion
• Net inflows approximately NIS 6 billion in provident funds and approximately NIS 5 billion in pension funds in the first half of 2024

	Q2 2024	Q1 2024	Q2 2023	2023
AUM in NIS billion	139	132	106	120
Revenue* in NIS million	153	142	114	476
Annualized Management Fees Provident and Study Funds **	0.54%	0.53%	0.52%	0.52%
Segment Profit* in NIS million	40	37	14	73

* Excluding effect of legal claims

** Excluding IRA Funds

STS

Short-Term Savings (STS)

As at 30/06/2024

• One of the largest Mutual Fund and Portfolio management companies in Israel with a wide range of products including traditional mutual funds, tracking funds and ETFs
• A wide range of mutual funds leading in yields and Sharpe Ratios
• High ratings in the banks' fund ranking systems

	Q2 2024	Q1 2024	Q2 2023	2023
AUM in NIS billion	157	155	139	149
Revenue in NIS million	96	89	84	346
Segment Profit in NIS million	37	29	28	128

CREDIT

Credit Segment SME Real Estate First

SME Credit in Israel

Lien Credit in Ireland

Consumer Credit in Israel

Meitav: Financing

As at 30/06/2024

• Lotus recorded success fees of approximately NIS 17 million in respect of the financial results of its debt fund Emerald 3
• Further to the Company's proposal for a merger of Meitav Loans with, and into Peninsula and the purchase of Lotus's shares by Peninsula, Peninsula announced that it decided to pursure examination of the merger of Meitav Loans and not the purchase of Lotus's shares. The Company is examining the announcement. It should be noted that there is no certainty that the transaction will be completed

	Q2 2024	Q1 2024	Q2 2023	2023
Revenue in NIS million	89	63	62	245
Segment profit in NIS million	40	19	25	96

RETAIL BROKERAGE

Retail Brokerage Segment 27

Accounts approximately

77,000

Client Assets

NIS Billion

shares and bonds on the TASE

Market share of the trading turnover in

As at 30/06/2024

• The leading non-bank TASE member
• Recruitment of approximately 14,000 customers during the first half of 2024 and significant investment of resources in marketing and technology
• Meitav Trade was listed on the Tel Aviv Stock Exchange at the beginning of 2024, and as of August 12, 2024 it's market value is approximately NIS 326 million

	Q2 2024	Q1 2024	Q2 2023	2023
Revenue in NIS million	44	43	40	160
Segment profit in NIS million	18	18	16	70

9%

ALTERNATIVE

Creating Value in Alternative Investments

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%
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)
Debt fund for financing film and TV series productions in the 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.

Fully diluted holdings, as of June 30, 2024

* Fund holding = holding in the fund's general partner / management company

Investment Fund

Financial Statements

Balance Sheet (In NIS Million)

		As at 30.06.2024	As at 31.12.2023
Cash and short-term investments		920	967
Other current assets		1,899	1,658
Total current assets		2,819	2,625
Long term investments		1,089	830
Fixed assets and intangible assets		1,455	1,393
Deferred taxes		61	46
Total assets		5,431	4,894
Net Debt to EBITDA*	Net Debt Excluding Credit companies

	As at 30.06.2024	As at 31.12.2023
Credit from banks and others	1,979	1,699
Liabilities for short sale of securities	45	50
Trade and other payables	863	383
Provisions for legal claims	658	637
Total current liabilities	3,068	2,769
Debentures	609	606
Other long term liabilities	698	568
Equity	788	722
Non-controlling interests	268	229
Total liabilities and equity	5,431	4,894

0.72 269

Profit and Loss (in NIS Million)

	H1 2024	Q2 2024	Q1 2024	Q2 2023	2023
Revenue from management fees, commissions and other	613	316	297	260	1,068
Income from non-bank loans activity	152	89	63	62	245
Total revenue	765	405	360	322	1,313
Income refund in respect of legal claims against the Company	-	-	-	-	)3(
Total revenue	765	405	360	322	1,310
Marketing, operation, general and administrative expenses	484	243	241	225	908
Financing expenses for non-bank loans	60	32	28	21	92
Operating income	221	130	91	76	310
Profit (loss) from securities held for nostro portfolio investments, net	5	)1(	6	7	13
Financing expenses, net	)34(	)22(	)12(	)24(	)69(
Other income )expenses(, net	-	2	)2(	29	19
Company's share in losses in equity accounted investees	)25(	)19(	)6(	)5(	)22(
Profit before taxes on income	167	90	77	83	251
Taxes on income	44	24	20	30	94
Profit for the period	123	66	57	53	157
Profit attributed to the shareholders	108	58	50	46	130

Thank you.