Turpaz Industries Ltd.

Legal Proceedings Report • Dec 14, 2022

Final Agreement signed with the insurers regarding the damages from the fire 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:	14/12/2022
	www.isa.gov.il			www.tase.co.il				Reference:	2022-01-119502	Time of broadcast: 18:37 18:37

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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 note 5 of the financial statements, attached to the third quarter 2022 report published on November 20, 2022 (reference: 2022-01-111063) regarding a fire incident at the company's factory in Beit Kema, and the agreements reached by the company with the lessor of the buildings and the insurers, the company is pleased to report that on December 14, 2022 a final agreement was signed with the insurers regarding the damages from the fire. As part of the agreement, it was agreed upon with the insurers, a total compensation of NIS 135 million (USD 39.6 million) as a final payment from the insurance company for the fire. Out of this amount, advances have already been paid to the company in the total of NIS 60 million (USD 17.6 million), and therefore it is expected to receive by the end of the fourth quarter of 2022, the remaining amount of NIS 75 million (USD 22.0 million). Following the settlement, the company will record a one-time profit before tax of NIS 30 million (USD 8.8 million). Receiving the payout from the insurers will contribute to strengthening the cash flow of the Turpaz group, and together with the group's solid capital structure will allow the continued implementation of its integrated growth strategy.

Attached hereto is a report on	Final Agreement signed with the insurers regarding the damages from the fire

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	Reference to parallel Hebrew report:	2022-01-119496
	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):
2021-01-171057     2022-01-012264     2022-01-111063
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Stock Exchange/Market: �����	Date of revision of form structure: 13/12/2022
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