Bazan Oil Refineries Ltd.

Legal Proceedings Report • Oct 21, 2025

This is an unofficial AI generated translation of the official Hebrew version and has no binding force. The only binding version is the official Hebrew version. For more information, please review the legal disclaimer.

OIL REFINERIES LTD.

"The Company"

October 21, 2025

To:

Israel Securities Authority www.magna.isa.gov.il

Tel Aviv Stock Exchange Ltd. www.tase.co.il

Dear Sir/Madam,

Subject: Response to Media Publications

With reference to media publications regarding the formulation of a new plan to relocate the OIL REFINERIES LTD. group's plants to the Negev, the Company welcomes the recognition by the Ministry of Energy and Infrastructure of the necessity to preserve all the capabilities of the OIL REFINERIES LTD. group and the recognition that the import alternative does not provide the required solution for Israel's energy sector.

Further to the government decision as stated in Note 20(c) to the Company's periodic report as of December 31, 2024,¹⁰¹ various alternatives are being discussed in the framework of the negotiations in connection with the government decision. The Company will continue to uphold its rights and the rights of all its stakeholders, including the group's employees, suppliers, customers, bondholders, and shareholders.

As of this date, no agreements have yet been reached in connection with the government decision. Upon the formulation of binding agreements, the Company will update as required.

Respectfully, OIL REFINERIES LTD. By Adv. Eli Mordoch Company Secretary

This is an unofficial AI generated translation of the official Hebrew version and has no binding force. The only binding version is the official Hebrew version. For more information, please review the legal disclaimer.

This is an unofficial AI generated translation of the official Hebrew version and has no binding force. The only binding version is the official Hebrew version. For more information, please review the legal disclaimer.

Alt: Company logo or official document

FOOTNOTE:

¹⁰¹ Published on March 12, 2025 (Reference: 2025-01-016302) and the content thereof is hereby incorporated by reference.