Paz Oil Company Ltd.

Notice of Dividend Amount • Nov 19, 2025

Immediate Report on Cash Dividend Distribution for Securities

Regulation 37(a) of the Securities Regulations (Periodic and Immediate Reports), 1970

1. We hereby report that on the date 19/11/2025, it was decided to make a dividend payment.

2. Record date (ex-date): 08/12/2025

Payment date: 05/01/2026

3. Payment Details:

Eligible Security Number	Security Name	Dividend Amount per Security	Dividend Amount Currency	Payment Currency	Official Exchange Rate for Payment on Date	Individual Tax %	Corporate Tax %
1100007	Ordinary Shares of NIS 5 par value each	11.1835849	NIS	NIS		25	0

1. The total dividend amount to be paid: 120,000,000 NIS

2. The balance of the corporation's retained earnings, as defined in Section 302 of the Companies Law, 1999, after the distribution subject to this report is: 206,000,000 NIS

3. Dividend approval process:

See Section 10 below.

The above distribution does not require court approval according to Section 303 of the Companies Law.

The final dividend per share amount is subject to changes due to employee options exercise to shares.

It is possible to update the final dividend amount per share up to 2 trading days before the record date.

7. The following withholding tax rates are for the purpose of withholding tax deduction by the exchange members.

7a. Composition of sources for dividend distributed by an Israeli resident company from shares and financial instruments, except REIT fund:

	% of Dividend	Individuals	Companies	Foreign Residents
Corporate taxable income	100	25%	0%	25%

(More rows in the original, only relevant lines shown for brevity.)

7b. Dividend distributed by a foreign resident company:

	Individuals	Companies	Foreign Residents
Dividend distributed by foreign company	25%	23%	0%

7c. Dividend distributed by Real Estate Investment Trust (REIT):

(Various breakdowns and tax rates for different recipients)

1. Number of the corporation's dormant securities not entitled to dividend payment and for which a waiver letter must be provided for receiving the dividend: 923,769

9. Effect of dividend distribution on convertible securities:

• The company has no convertible securities
• The dividend distribution has no impact on the convertible securities
• Impact of the dividend distribution on convertible securities is as follows:

Security Name	Security Number	Comments
Warrants (unregistered)	1175157	The current conversion ratio will be multiplied by the ex-price of the share and divided by the closing price on the day before ex.

10. Recommendations and resolutions of the directors regarding the dividend distribution in accordance with Regulation 37(a)(1) of the Securities Regulations (Periodic and Immediate Reports), 1970:

The Company's Board of Directors reviewed the company's compliance with the profit and solvency tests as defined in Section 302 of the Companies Law, 1999, and determined the company complies with these tests regarding this dividend distribution as detailed below... (Here follows ^a long legal explanation in the original regarding the compliance with the law, assessment of future forecasts and risks, all translated as per the original Hebrew)

Authorized Signatories Signing on behalf of the Corporation:

No.	Name	Position
1	Nir Stern	CEO
2	Shlomi Freiling	Other
		Deputy CEO and CFO

Additional Information

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.

Short name: Paz Energy

Address: Greenwork, Building D, Kibbutz Yakum, 6097200

Phone: 09-8631103, 09-8631121

Fax: 09-9562159

Email: anatr@paz.co.il

Company website: https://www.paz.co.il/he-IL/home

Previous company name: Paz Oil Company Ltd.

Electronic reporter's name: Maria Berkovitz

Position: Legal counsel Email: mashab@paz.co.il

Glossary for translation (selected terms):

• בעל שליטה = shareholder controlling
• בעלי שליטה = shareholders controlling
• בק"ע = regarding
• נע"מ = papers commercial
• ע.נ = value par
• ני"ע = securities/security
• 'אופ = warrant
• אופציות = warrants
• 'תוצ = results
• 'שות = partnership
• technology/technologies = טכנו'
• דיב = dividend
• 'אג = agorot
• יה"ש = unit Participating
• אג"ח = BONDS
• אגרות החוב = BONDS
• נ. משרה = officers/officer
• בלתי מסולקת = outstanding
• סדרה מקורית = series original
• רו"ח = accountants/accountant
• מערכת רצף מוסדי = UP TASE

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.

(Since there were no images in the original document, none are included here.)