Beeio Honey Ltd.

Legal Proceedings Report • May 2, 2022

This is an English translation of a Hebrew immediate report that was published on May 2, 2022 (Ref No.: 2022-01-053443) (hereafter: the "Hebrew Version"). This English version is only for convenience purposes. This is not an official translation and has no binding force. Whilst reasonable care and skill have been exercised in the preparation hereof, no translation can ever perfectly reflect the Hebrew Version. In the event of any discrepancy between the Hebrew Version and this translation, the Hebrew Version shall prevail.

BEEIO HONEY LTD

(the "Company")

To: To: www.isa.gov.il www.tase.co.il

Israel Securities Authority Tel Aviv Stock Exchange Ltd .

May 2, 2022

Dear Sirs and Madams,

Re: Success in the Production of Cultivated Honey with Proven Antibacterial Properties

The Company is honored to inform its shareholders that further to the Company's report of February 23, 2022 (Ref No. 2022-01-021835), in which it reported of its success in the establishment of a production system (pilot) for cultured honey with production capacity of up to 3 tons per week (the "Facility"), on May 2, 2022 Beeio Honey Technologies Ltd., a private company fully owned by the Company (hereinafter: the "Subsidiary"), informed that it had successfully completed an experiment proving that the Subsidiary has the capacity of producing cultivated honey with proven antibacterial properties in a consistent, efficient manner, via the production Facility established by the Subsidiary in its laboratories (hereinafter: the "Experiment").

Different factors were proved to contribute to the antibacterial properties of honey against a wide array of pathogenic bacteria including low pH, high content of sugar (osmolality), hydrogen peroxide (H2O2), polyphenols, and antimicrobial proteins/peptides¹ . These factors can be found in the Subsidiary's cultivated honey, similarly to pure honey produced from bees.

It is emphasized that proving the antibacterial properties of cultured honey produced by the Subsidiary in its Facility is a significant milestone in the development of functional cultured honey that has health benefits and is similar in composition and properties to pure honey, to be used as superfood, enrich human nutrition, and serve as high quality raw material in the honey production industry as well as in other industries such as cosmetics, pharma etc.

¹ Honey antibacterial activity: A neglected aspect of honey quality assurance as functional food - ScienceDirect

The success in the Experiment is in accordance with a work plan agreed upon by the Company and the Subsidiary and is expected to allow the Subsidiary to continue developing and improving the mass production capacity of cultivated honey with proven antibacterial properties.

The Company evaluates that some of the findings and/or processes and/or research methods it has developed thus far, and which may be developed, should the Company proceed with its goals, could be used as intellectual property base in addition to the currently existing intellectual property.

The information mentioned in this notice is "Forward Looking Information" as defined in the Securities Law, 5728-1968 and the regulations under it, based on the information known to the Company as of this date, and on estimates and predictions which their realization depends, among others, on factors that are outside of the Company's control, as stated in this report above. To be noted, the Company is a research and development company and as such, its estimations might be realized in a different manner, if at all, given that the Company's research is preliminary and precedential.

Sincerely, OFIR DVASH, CEO BEEIO HONEY LTD