Intercure Ltd.

Regulatory Filings • May 10, 2021

Canaccord Genuity initiates analyst coverage on InterCure

Toronto, Canada, and Herzliya, Israel– May 10, 2021 – InterCure Ltd. (TSX: INCR:U, TASE: INCR)(dba Canndoc)(the "Company") announced today that Canaccord Genuity Group Inc. ("CG") has initiated analyst coverage on InterCure. CG's initial research report and all future reports (if any) may be obtained directly from CG.

Click here to see full report.

Please note that any opinions, estimates or forecasts regarding the performance of InterCure and its management made by CG are theirs alone and do not represent the opinions, estimates or forecasts of InterCure or its management. InterCure does not by this announcement or otherwise imply that the Company analyzes or approves of such information, conclusions or recommendations. Moreover, InterCure does not and will not distribute copies of analysts' reports to investors or other persons

About InterCure (dba Canndoc)

InterCure (dba Canndoc) (TSX:INCR.U, TASE:INCR) is the leading, fastest growing and the most profitable Israeli cannabis company. Canndoc, a wholly owned subsidiary of InterCure, is Israel's largest licensed cannabis producer and one of the first to offer Good Manufacturing Practices (GMP) certified and pharmaceutical-grade medical cannabis products. InterCure leverages its market leading distribution network, best in class international partnerships and a high-margin vertically integrated "seed-to-sale" model to be the most profitable cannabis company globally outside of North America.

InterCure is listed on the Toronto Stock Exchange under the symbol INCR.U and trades on the Tel Aviv Stock Exchange under the symbol INCR.TA. Listing of InterCure's Shares on NASDAQ Expected in Q2 2021 and Will Trade Under the Symbol "INCR".

For more information, visit: http://www.intercure.co

Non-IFRS Measures

This press release makes reference to certain non-IFRS financial measures. Run rate EBITDA, as defined by InterCure, means earnings before interest, income taxes, depreciation, and amortization for a quarter annualized. This measure is not a recognized measure under IFRS, does not have a standardized meaning prescribed by IFRS and is therefore unlikely to be comparable to similar measures presented by other companies. InterCure's method of calculating this measure may differ from methods used by other entities and accordingly, this measure may not be comparable to similarly titled measured used by other entities or in other jurisdictions. InterCure uses this measure because it believes it provides useful information to both

management and investors with respect to the operating and financial performance of the company.

Forward-Looking Statements

This press release may contain forward-looking information within the meaning of applicable securities legislation, which reflects InterCure's current expectations regarding future events. The words "will", "expects", "intends" and similar expressions are often intended to identify forwardlooking information, although not all forward-looking information contains these identifying words. Specific forward-looking information contained in this press release includes, but is not limited to: statements concerning any future analyst reports to be published by CG and the future coverage of the Company by CG generally. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond InterCure's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to: changes in general economic, business and political conditions. InterCure undertakes no obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

Contact:

InterCure Ltd. Amos Cohen, Chief Financial Officer amos@canndoc-pharma.com