Beeio Honey Ltd.

Regulatory Filings • Jun 2, 2022

This is an English translation of a Hebrew immediate report that was published on June 2, 2022 (Ref No.: 2022-01-069280) (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")

June 2, 2022

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

Israel Securities Authority Tel Aviv Stock Exchange Ltd.

Dear Sirs and Madams,

Re: Beeio Honey Technologies Ltd. was successful in expressing buffalo milk proteins for the purpose of producing cultured buffalo milk and its products- without the use of animals and in a sustainable way

The Company is honored to inform its shareholders that Beeio Honey Technologies Ltd. (the "Subsidiary"), was successful in expressing in its laboratories buffalo milk proteins required for producing cultured buffalo milk and its products. This breakthrough places the Company as a world pioneer also in the field of cultured buffalo milk. It is clarified that as of the date of this report, the Subsidiary's findings have not yet been examined by an external examiner, but it intends to do so.

This breakthrough is part of the Company's long-term strategy which harnesses its technology and human resource for the purpose of developing additional sustainable products and also enhances the feasibility and ability of the Company to implement such developments. Parallel to the Company's plans for the commercialization of its cultivated honey and cultivated royal jelly products, in view of said success, the Company's board of directors intends to hold a strategic meeting and examine the promotion, development, and commercialization of buffalo milk and its products.

Buffalo milk is the second most consumed milk in the world, representing 15% of global milk consumption (approx. 910 million ton) with an increase in annual global consumption of about

2.5%(1). Buffalo milk has a high nutritional value and is characterized with a rich composition of proteins, fatty acids, vitamins, and minerals. Thanks to their quality and nutritional value, demand for buffalo milk-based products such as pasteurized milk, concentrated milk, butter, yogurt, ice cream, and cheeses, gradually increases(2,3,4). In addition, studies attribute medical properties to buffalo milk which may benefit people suffering from high blood pressure, obesity, osteoporosis, breathing problems, tooth decay, and certain types of cancer. Moreover, buffalo milk proteins were found to be less allergenic and are a better source for available amino acids than cow milk proteins (5,6,7). In addition, the milk proteins are widely used in the food industry (e.g., in enriching baby substitute foods), pharma industry (e.g., encapsulation of active ingredients and edible coatings), and in other industries such as paper, paint, and textile (8,9) .

The Company estimates that the advantages of this technological development include:

• 1. Buffalo milk proteins may be used to produce cultured buffalo milk and its products as consumer goods that would meet increasing demand for these products.
• 1. Cultured buffalo milk production may be, as the Company continues to improve its technology- continuous, season independent, sustainable, and animal friendly.
• 1. Buffalo milk proteins may also be used as a raw material in the food and pharma industries and in other industries such as paper, paint, and textile poduction.

The information mentioned in this notice is "Forward-Looking Statement" as defined in The Securities Law, 5728-1968, and the regulations thereunder, based on the information known to the Company as of this date, and on estimates and predictions the realization of which depends, among others, on factors that are outside of the Company's control. 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.

• 1. Vargas-Ramella, M., Pateiro, M., Maggiolino, A., Faccia, M., Franco, D., De Palo, P., & Lorenzo, J. M. (2021). Buffalo Milk as a Source of Probiotic Functional Products. Microorganisms, 9(11), 2303. https://doi.org/10.3390/microorganisms9112303
• 1. Cazacu S., Rotsios K., Moshonas G. (2014). Consumers' purchase intentions towards water buffalo milk products (WBMPs) in the greater area of Thessaloniki, Greece. Procedia Economics and Finance 9, 407–416.
• 1. D'Ambrosio, C., Arena, S., Salzano, A. M., Renzone, G., Ledda, L., & Scaloni, A. (2008). A proteomic characterization of water buffalo milk fractions describing PTM of major species and the identification of minor components involved in nutrient delivery and defense against pathogens. Proteomics, 8(17), 3657–3666. https://doi.org/10.1002/pmic.200701148
• 1. Pasquini, M., Osimani, A., Tavoletti, S., Moreno, I., Clementi, F., & Trombetta, M. F. (2018). Trends in the quality and hygiene parameters of bulk Italian Mediterranean buffalo (Bubalus bubalis) milk: A three year study. Animal science journal = Nihon chikusan Gakkaiho, 89(1), 176–185.https://doi.org/10.1111/asj.12916
• 1. Ahmad S., Anjum FM., Huma N., Sameen A., Zahor T. (2013). Composition and physico-chemical characteristics of buffalo milk with particular emphasis on lipids, proteins, minerals, enzymes and vitamins. Journal of Animal and Plant Sciences 23, 62–74.
• 1. Kapila R, Kavadi KP, Kapila S. 2013. Comparative evaluation of allergic sensitization to milk proteins of cow, buffalo and goat. Small Ruminant Research 112, 191–198.
• 1. Bassan JC., Goulart AJ., Nasser ALM., Bezerra TMS., Garrido SS. (2015) Buffalo Cheese Whey Proteins, Identification of a 24 kDa Protein and Characterization of Their Hydrolysates: In Vitro Gastrointestinal Digestion. PLOS ONE 10(10): e0139550. https://doi.org/10.1371/journal.pone.0139550
• 1. Sukla, S., Bhattacharya, T. K., Venkatachalapathy, R. T., Kumar, P., & Sharma, A. (2007). Molecular cloning and characterization of buffalo alpha(s1)-casein

gene. DNA sequence : the journal of DNA sequencing and mapping, 18(5), 334–340. https://doi.org/10.1080/10425170701388974

1. Chatterton, D.E., Smithers, G., Roupas, P. and Brodkorb, A., 2006. Bioactivity of βlactoglobulin and α-lactalbumin—Technological implications for processing. International Dairy Journal, 16(11), pp.1229-1240.