Bazan Oil Refineries Ltd.

Prospectus • Aug 28, 2025

OIL REFINERIES LTD.

OIL REFINERIES LTD.

Registration Number: 520036658

To: Israel Securities Authority To: Tel Aviv Stock Exchange Ltd. Form Number: T020 (Public) Transmitted via MAGNA: 28/08/2025 Israel Securities Authority: www.isa.gov.il Tel Aviv Stock Exchange: www.tase.co.il Reference: 2025-01-064706

Notice of the Offeror on the Results of the Prospectus Offer

According to Section 30 of the Securities Law, 1968 and the Securities Regulations (Notices on the Results of the Prospectus Offer), 1969 Regulation 30g of the Periodic and Immediate Reports Regulations, 1970

• Results of early commitments tender given in the prospectus (without offering the securities in the prospectus).
• [Selected] Results of the offer in the prospectus.
• Cancellation of the public offer.

________.

Note: When reporting the results of an offer in the prospectus, early commitments given prior to the publication of the prospectus must also be included.

The prospectus is a shelf prospectus of a reporting corporation.

1. The results of the offer in the prospectus, with reference number (T012) 2024-01-615123, are presented below.

Permission for its publication was granted on 11/11/2024, and the period for submitting orders under it ended on (in the case of an ATM program, the date the program ended):

Was the offer made by means of a shelf offering report or supplementary notice? Yes Reference number for the shelf offering report (T022) / supplementary notice (T024): 2025- 01-064045

Attached are the results of the prospectus offer: Diyuach_Totzaot_Michraz_Latzibur_isa.pdf

Prospectus Number: 48825

Note: For internal use of the authority only.

2.a. Total securities offered in the prospectus:

Security Type	Security Number on TASE	Security Name	Total Quantity	Price*	Interest Rate	Discount Rate	Weighted Discount Rate
Debentures	1211986	Bazan Bond 15	439,444,000	1.007	5.25	0.22055	3.00205

*Price per 1 security

2.b. Completion of details for ETFs offered in the prospectus:

Cancelled*	Security Number on TASE	Series Serial Number	Name	Security Type on TASE	Trustee Name	Listing Date
	__	__

Note: The maximum number of records that can be filled in the table is 35. If it is necessary to report a larger number, the report should be split. Explanation: If the series was cancelled, mark the "Cancelled" field. Explanation: In the "Series Serial Number" field, enter up to 3 letters or digits describing the serial number of the series without additional marks such as quotation marks.

1. Total securities by type, and by type of orderers whose offer was accepted:

Securities for which consideration is received in cash:

Issue Type	Type, Number, and Name of Security on TASE	Tender Number	Type of Orderer	Total Quantity Issued	Price*	Future Exercise Price*	Total Calculated Consideration	Par Value of Total Securities
Public Offer (Cash Consideration)	Debentures, 1211986, Bazan Bond 15	1202746	Public	439,444,000	1.007	__	442,520,108	439,444,000

*Price per 1 security

In case of listing for trading (including listing for trading as part of an IPO) / release from lockup / exchange tender offer / merger / distribution of dividend in kind:

Issue Type	Type, Number, and Name of Security on TASE	Total Quantity	Average Closing Price* / Value on the day before exchange	Future Exercise Price	Total Calculated Consideration	Par Value of Total Securities	Execution Date**	Securities Offered
__	__	__	__	__	__	__	__	__

Notes: *Average closing price of the security of the same type, in the first three trading days after listing for trading. **In case of listing for trading/release from lock-up/distribution of dividend in kind, the date is the day of listing for trading on the TASE; in the case of an exchange tender offer, the date is the actual exchange date. ***In an exchange tender offer, report the securities exchanged (received). If the exchanged securities are not traded, report the securities offered.

Attention: The total calculated consideration will be in accordance with the Securities Regulations (Application Fee for Permit to Publish Prospectus), 1995. For your convenience, a link to the calculation table: Click here

If this is an exchange tender offer:

Cash consideration received in ________: ________ Cash consideration paid in ________: ________

*Cash consideration received by the offeror for the offered securities **Cash consideration paid by the offeror as part of the tender offer

1. Details of underwriters and distributors in the offering:

Participants in the offering:

• Underwriters
• [Selected] Distributors
• None of these

	Name	Role
1	Offerings I.B.I - Underwriting and Ltd.	Distributor
2	Phoenix Underwriting Ltd.	Distributor
3	Menora Mivtachim Underwriting and Management Ltd.	Distributor
4	Offerings Apex Ltd.	Distributor
5	Offerings Alpha Beta Ltd.	Distributor
6	Unicorn Capital Ltd.	Distributor
7	Compass Rose Capital P.A. Ltd.	Distributor

Details of authorized signatories on behalf of the corporation:

	Signatory Name	Role
1	Eli Mordoch	Company Secretary

Explanation: According to Regulation 5 of the Periodic and Immediate Reports Regulations (1970), a report submitted under these regulations must be signed by those authorized to sign on behalf of the corporation. The staff's position on the matter can be found on the authority's website: Click here.

Reference numbers of previous documents on the subject (the mention does not constitute incorporation by reference):

Securities of the corporation are listed for trading on the Tel Aviv Stock Exchange.

Short name: OIL REFINERIES LTD.

Address: P.O. Box 4, Haifa 3100001 Phone: 04-8788135, 04-8788115 Fax: 073-2928115 Email: info@bazan.co.il Company website: https://www.bazan.co.il/

Previous names of the reporting entity:

Electronic reporter name: Eliyahu Mordoch Position: Company Secretary Employer company name:

Address: P.O. Box 4, Haifa 31000 Phone: 04-8788135 Fax: 04-8788741 Email: emordoch@bazan.co.il

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