Turpaz Industries Ltd.

M&A Activity • Feb 14, 2024

Completion of acquisition of control of Sunspray in South Africa false

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TURPAZ INDUSTRIES LTD
Corporation no: 514574524	13939
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	Israel Securities Authority			Tel Aviv Stock Exchange		�150 ( Public )		Reported via MAGNA:	14/02/2024
	www.isa.gov.il			www.tase.co.il				Reference:	2024-01-015969	Time of broadcast: 08:04 08:04

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English language report to Israeli corporateThis form is for reports that has been translated to English (convenience translation) and should be published alongside with the report in Hebrew in accordance with the Securities Regulations (Periodic and Immediate Reports), 5730 - 1970.

References of previous reports relating to this matter:   _________   _________   _________

Further to immediate reports published by the company on 17.12.2023 and 24.12.2023 (references: 2023-01-113575 and 2023-01-116017, respectively), regarding entering into an agreement to purchase 55% of the issued and paid-up share capital and voting rights in Sunspray Solutions Proprietary Limited a private company incorporated in South Africa, ("the Agreement" and "Sunspray", respectively), the company is honored to report that on February 13, 2024, after all the conditions precedent set forth in the Agreement have been met, the transaction was completed in exchange for a total payment to the sellers of 14.1 million dollars (267.8 million rand), and as of this date, the company, through a wholly owned subsidiary, owns 55% of the issued and paid-up share capital and voting rights of Sunspray, which provides exclusive solutions for the food and beverage segments, using customized spray drying technology for multinational and local companies. The acquisition was funded through bank financing. For details regarding a loan taken by the company from a banking institution, see an immediate report dated January 28, 2024 (reference 2024-01-010554).

Attached hereto is a report on	Completion of acquisition of control of Sunspray in South Africa

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	Reference to parallel Hebrew report:	2024-01-015960
	This report was not reported in Hebrew.

Details of the authorized signatories to sign on behalf of the corporation:

	Name of the signer	Corporate Role
1	Yoni Adini	Other General Counsel

Note: According to Rule 5 of the Periodic and Immediate Reports Regulations (1970), a report submitted under these Regulations will be signed by the authorized persons to sign on behalf of the corporation. For the ISA staff notice Click here .2 2

References of previous documents relating to this matter(the reference does not constitute incorporation by reference):
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Stock Exchange/Market: �����	Date of revision of form structure: 31/12/2023
Address: ���� 2 , ����� 5885708   , Tel: 03-5560913 , Fax: 03-5560915
E-mail address: karen@turpaz.co.il   Company site: www.turpaz.co.il
Previous names of reporting entity:
Name of the Signatory: ����� ���� Position of Signatory in the reporting corporation: Name of Employer Company:
Address: ���� 2 , ����� 5885708 Telephone: 054-8010552 Facsimile: E-mail: yoni@turpaz.co.il 1