Beeio Honey Ltd.

Business and Financial Review • Feb 23, 2022

This is an English translation of a Hebrew immediate report that was published on February 23, 2021 (Ref No.: 2022-01-021835) (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: Israel Securities Authority Tel Aviv Stock Exchange Ltd . www.isa.gov.il www.tase.co.il

February 23, 2022

Dear Sirs and Madams,

Re: The Company Successfully Established a Cultivated Honey Production Facility (Pilot) of up to 3 Tons per week

The Company is honored to inform that pursuant to the Company's report dated December 16, 2021 (Ref No. 2021-01-181110), the Company brought forward the timeline for the establishment of a cultivated honey production facility (pilot) ("the Facility"), as detailed in the previous report, and successfully founded a Facility with production capabilities within the Company's laboratories.

In addition, the Company succeeded in improving and enhancing the production process such that it exceeded previously predicted production quantities, and the Facility currently has a potential production capacity of up to 400 kg per day and an annual potential of up to 150 tons of cultivated honey. According to the data of the Central Bureau of Statistics, domestic annual honey consumption in Israel is estimated at approximately 5,000 tons per year, thus the production capacity developed by Beeio Honey in the Facility may constitute 3 percent of future honey consumption in Israel.

By the Company's estimation, as of the date of this immediate report and based on public information published in the press and on the internet, the Company is a global pioneer in the production of cultivated honey and the first to set up a production facility with the abovementioned capacities.

By the Company's estimation, the established production facility may allow the Company to gain considerable operational knowledge of cultivated honey commercial production, while examining, improving, and enhancing the process. This knowledge will lay the foundation for setting-up plants at a larger scale in the Company's target territories.

The information mentioned in this notice is "Forward-Looking Statement" 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 differently, if at all, given that the Company's research is preliminary and precedential.

Sincerely, OFIR DVASH, CEO BEEIO HONEY LTD