Meitav Investment House Ltd.

Investor Presentation • Oct 16, 2025

Investors Presentation

October 2025

Disclaimer

The following presentation was prepared by Meitav Investment House Ltd. (hereinafter: the "Company") as a general presentation about the Company and is intended for institutional investors only. This presentation does not comprise an opinion, suggestion, recommendation or purchase consultation / marketing and / or holding and / or sale of securities and / or financial assets (including securities and / or any of the issued financial assets of the Meitav Group's companies) and it is not a substitute for investment consolation / marketing that takes into account each person's specific needs. The information included in this presentation and any other information that will be provided during the presentation is provided for convenience purposes only, and the presentation does not replace the need to review reports published by the Company to the public and it must be read together with a prospectus, shelf prospectus and/or shelf offering report, as relevant and may published, the Company's financial statements and its immediate reports. This presentation does not include the full results and financial information of the Company' nor the explanations thereto or the details of the Company's general activity of risk factors, nor does it purport to encompass or certain all the information that may be relevant for the purpose of making an investment decision.

The following is the opinion of the Company alone, and reflects its understandings at the time of the presentation. The information, details and analysis set forth in this presentation, including the views expressed, may change without further notice.

Certain matters discussed in this presentation, including projections, objectives, assumptions, estimates and any other information relating to future events and / or matters, the occurrence of which is uncertain and is not under the Company's control, constitute forward-looking statements, as such term is defined by the Securities Law, 1968, and are based on the subjective assessments of the Company's management based on data and information that the Company had when preparing the presentation. The realization or non-realization of forward-looking statements will be affected, among other things, by risk factors characterizing the Company's activities, receipt of regulatory approvals and developments in the economic environment and external factors affecting the Company's activities, which cannot be estimated in advance and are not under the Company's control.

The Company cannot provide assurance that its expectations and estimates, including regarding its plans, will indeed be realized and the results of the Company's activities may differ substantially from the results estimated or implied from this presentation, among other things, due to changes in any of the abovementioned factors. Also, the Company cannot provide assurance that its basic assumptions that are contingent on third parties will be realized. In addition, as of the date of this presentation, it is not possible to assess the full consequences of the War of Iron Swords on the economy and the results of the Company's activities.

Therefore, readers of this presentation are cautioned that the Company's actual future results and achievements may differ materially from those included in the forward-looking statements in this presentation. The forward-looking forecasts and estimates are based data and information available to the Company's management at the time of the presentation and the Company does not undertake to update or amend any such forecast or estimate in order to reflect events or circumstances that will apply after the date of this presentation.

This document is an unofficial translation for convenience only of the Hebrew original of the Investor presentation of Meitav Investment House Ltd. for October 2025, that was submitted to the Tel-Aviv Stock Exchange and the Israel Securities Authority on October 16, 2025. The Hebrew version submitted to the Tel-Aviv Stock Exchange and the Israel Securities Authority shall be the sole legally binding version. For details of the policy regarding voluntary disclosure in English, see the Company's immediate report dated August 19, 2024 (reference number: 2024-01-084447).

Today's Presenters

Ilan Raviv

CHIEF EXECUTIVE OFFICER

• Joined Meitav in March 2010 and has been working in the financial industry for over 30 years
• Previously served as CEO of U-Bank (FIBI Group)
• Prior to that, Ilan served as a Manager at the Jacob Safra Bank in Switzerland, Treasurer of Israel Discount Bank and a Senior Dealer at the Foreign Currency Reserve Management Team of the Bank of Israel, among others
• Holds an M.Sc. from the University of London

Einat Rom

CHIEF FINANCIAL OFFICER

• Joined Meitav in April 2014 and has over 20 years of experience in finance and audit
• Prior to 2017, served as Chief Accountant of Meitav
• Prior to joining Meitav, Einat served as a Senior Manager at KPMG
• Holds an LL.M. from Bar-Ilan University and is a Certified Public Accountant

The Israeli Economy at a Glance – Key Economic Highlights

• Young and fast-growing country(1)
• Mandatory Pension Highest pension savings rate in the developed world(2)
• Robust high-tech sector serves as a significant driver of the Israeli economy(3)
• Despite geopolitical challenges, the Israeli economy remains resilient
• Israel's regional influence could develop significantly in the coming years, driven by the Abraham Accords and Leviathan gas exports

Unemployment (%)

2017 2018 2019 2020 2021 2022 2023 2024

3.6% 3.7%

2.7% 2.6%

4.3%

GDP Per Capita (USD thousands)

Outperformance of TA-125

vs. Equity Indices (L2Y)(5) (%)

Source: Bank of Israel and Bank of Israel's Research Department Staff Forecast Report (September 2025)

3.2%

*Note: based on historical annual growth rate of 7.9%

3.5% 3.6%

• 1) Source: Israel Central Bureau of Statistics (as at 31/12/2023)
• 2) Source: Directorate General of Labor Ministry of Economy and Industry
• 3) Source: Israel Innovation Authority
• 4) Constant exchange rate of 3.65 (as at 31/12/2024)

2017 2018 2019 2020 2021 2022 2023 2024 2025E 2026E

5) Source: CapIQ (as at 30/09/2025)

Meitav at a Glance

The Leading Israeli Investment House...

...With Strong Financial Performance

• 1) Source: Company's reports and publicly available information
• 2) AUM Assets Under Management
• 3) See Page 4 of the Board of Director's report for Q2 2025

Investment Highlights

Israel's economy has continued to be resilient through the current environment and displayed impressive growth despite adversity

Israel's pension system attracts capital through mandatory individual contributions, driving consistent and secular AUM growth

Meitav is the largest investment house in Israel by AUM, managing approximately NIS 361 billion in assets on behalf of more than one and a half million clients

Meitav's strategy is built on three pillars: value creation through long- and short-term savings strategies, and growth via credit and retail brokerage segments

Non-bank firms are gaining market share in lending and retail brokerage, with Meitav at the forefront; retail brokerage is highly complementary to asset management

Management Team The Meitav management team brings a wealth of knowledge to the table with 10+ years of experience on average

Meitav is the Market Leader Among Israeli Investment Houses

Investment Houses by Long-Term Savings ("LTS") AUM

(August '25) (in NIS billion)

	AUM	2024 Rank
1.	185	2
2.	166	1
3.	109	3
4.	86	4
5.	73	5

Source: GemelNet & PensionNet

• Meitav is the leader among Israel's investment houses, and continues to gain market share from its competitors
• Strong brand and relative investment performance vs. competitors driving market share gains
• The Company's leading position in LTS reinforces its strength in other savings products
• Meitav also ranks first among Portfolio management companies in Israel and second among Mutual funds companies

AUM: Consistently Positive Net Flows

Total AUM Flows (in NIS billion)

59% of AUM growth attributed to positive net flows in every quarter from Q1 2021 – Q2 2025

Revenue: Continued Growth Across All Business Segments (in NIS Million)

• Total group revenue: Approximately NIS 477 million, reflecting 18% increase compared to the same quarter last year.

Meitav: Selected Financial Data for Q2 2025

¹⁾ See Page 4 of the Board of Director's report for Q2 2025

²⁾ Other = Insurance Agencies, Institutional Brokerage, Alternative Investments and other activities

Selected Financial Data: An Increase of 70% in the Net Profit Attributed to the Shareholders(1) (in NIS Million)

¹⁾ Reflects growth from H1 2024 to H1 2025

²⁾ Mainly financing expenses related to court ruling in a class action

Segment Analysis

Long-Term Savings (LTS): Positive Net Flows in Long-Term Savings are Driven by Deposits and Market Share Gain, Net

Long-Term Savings AUM Flows (in NIS billion)

61% of AUM growth attributed to market share gain and net deposits in Q1 2021 – Q2 2025

Long-Term Savings (LTS): Significant Increase in Revenues

Revenues (in NIS million)

Long-Term Savings (LTS): Continuous Improvement in Management Fee Rate in Provident and Study Funds and a Positive Outlook Moving Forward

AUM-Based Fees Rate and YoY Rate Change

Long-Term Savings (LTS): Significant Increase Across All Metrics

• Meitav has become the first choice for 32% of new Pension fund members in 2024, solidifying its position as a leading pension fund. Currently, its pension fund ranks third in the number of members among all pension funds, including insurance companies, and first among investment houses (2)

Segment Profit(1) (in NIS million)

As at 30/06/2025

• 1) Segment profit excluding effect of legal claims
• 2) Source: Company's reports and publicly available information

Short-Term Savings (STS): Continuous Performance Improvement

• Among the largest providers of mutual funds and portfolio management in Israel, offering a broad range of passive and active investment products
• A variety of mutual funds consistently leading in their categories in returns and Sharpe ratios
• High rankings in the bank rating systems

AUM Portfolio Management 90 NIS Billion

Actively Managed Mutual Funds ETFs & Tracking Funds

16

As at 30/06/2025

Credit Segment: The Company's Credit Portfolio Continues to Expand

Real Estatebacked credit for private clients in Israel

Meitav: Financing

SME Real Estate First Lien Credit in Ireland

Lotus Investment Group (1)
Property & Construction Finance

Credit Segment: Continued Growth Trend in Both Revenue and Profit

Real Estatebacked credit for private clients in Israel

SME Real Estate First Lien Credit in Ireland

18

As at 30/06/2025

Retail Brokerage Segment: Continued Growth

2024

H1 2025

Q2 2024

Q2 2025

• Leading retail trading platform among investment houses in Israel

2020 2021 2022 2023 2024 H1

• A record recruitment of 17,500 clients in the first half of the year, and significant investment in marketing and technology
• An increase of approximately 31% in Meitav Trades net profit compared to the same period last year
• Meitav Trade's market valuation, as of August 10, 2025, stands at approximately NIS 1,072 million

Market Share (1)

Client Assets

Accounts(2) approximately

38

NIS Billion

105,000

As at 30/06/2025

• 1) Estimated number of customers
• 2) As of August 18,2025

Financial Statements

Balance Sheet (in NIS Million)

	As of 30.06.2025	As of 31.12.2024
Cash and short-term investments	626	529
Other current assets	2,523	2,220
Total current assets	3,149	2,749
Long term investments	1,250	1,127
Fixed assets and intangible assets	1,573	1,522
Deferred taxes	79	79
Total assets	6,051	5,477

Net Debt to EBITDA(1)	Net Debt(1)
0.54	312

	As of 30.06.2025	As of 31.12.2024
Credit from banks and others	2,066	1,910
Liabilities for short sale of securities	76	91
Trade and other payables	572	439
Liabilities for legal claims	695	676
Total current liabilities	3,409	3,116
Debentures	678	477
Other long term liabilities	860	767
Equity	927	848
Non-controlling interests	177	269
Total liabilities and equity	6,051	5,477

Profit and Loss (in NIS Million)

	H1 2025	Q2 2025	Q1 2025	Q2 2024	2024
Revenue from management fees, commissions and other	739	379	360	316	1,301
Income from non-bank credit activity	189	98	91	89	318
Total revenue	928	477	451	405	1,619
Income refund in respect of legal claims against the Company	-	-	-	-	(2)
Total revenue	928	477	451	405	1,617
Marketing, operation, general and administrative expenses	544	275	269	243	1,004
Financing expenses for non-bank credit	76	38	38	32	134
Operating income	308	164	144	130	479
Profit (loss) from securities held for nostro portfolio investments, net	11	6	5	(1)	12
Financing expenses, net	(34)	(22)	(12)	(22)	(65)
Other income (expenses), net	(4)	1	(5)	2	(6)
Company's share in losses in equity accounted investees, net	-	-	-	(19)	(27)
Profit before taxes on income	281	149	132	90	393
Taxes on income	72	41	31	24	103
Profit for the period	209	108	101	66	290
Profit attributed to the Shareholders	185	95	90	58	256