Israel Discount Bank Ltd.

Capital/Financing Update • Nov 19, 2025

Discount Bank of Israel Ltd. Discount Issuers Ltd. Issuance Rating

To:

To: Chief Credit Analyst: Regina Argenio, Milan, 39-02-72111208

regina.argenio@spglobal.com

Additional Contact: Matan Benjamin, Ramat Gan, 972-3-7539716

matan.benjamin@spglobal.com

Assignment of ilAAA rating for a bond issuance of up to NIS 3.1 billion par value and +1-ilA rating for a commercial papers issuance of up to NIS 1.5 billion par value.

November 19, 2025

Following our announcement on November 17, 2025, S&P Maalot hereby announces that the ilAAA rating for bonds to be issued by Discount Bank of Israel Ltd. (+1-ilAAA/Stable/ilA) via expansion of Series Yud and Series Yud Zayin applies for a total amount of up to NIS 3.1 billion par value. S&P Maalot also announces that the +1-ilA rating for commercial papers to be issued via issuance of Series Series Hey and Series Series 7 applies for a total amount of up to NIS 1.5 billion par value. The issuances will be conducted through Discount Issuers Ltd.

For more details about the rating of Discount Bank of Israel Ltd. and additional regulatory requirements, see the rating report from November 11.

1 | November 19, 2025 Issuance Rating

Discount Bank of Israel Ltd. Discount Issuers Ltd.

Discount Bank of Israel Ltd.	Rating	First Assigned Rating	Last Date of Rating
Issuer's Rating
Short Term	ilA-1+	04/12/2019	11/11/2025
Long Term	ilAAA\Stable	01/09/2003	11/11/2025
Issuance Rating
Issuer Rating History
Long Term
November 11, 2025	ilAAA\Stable
October 31, 2023	ilAAA\Negative
July 11, 2019	ilAAA\Stable
December 20, 2016	ilAA+\Stable
December 24, 2014	ilAA\Stable
December 16, 2010	ilAA-\Stable
May 06, 2009	ilAA-\Negative
December 09, 2007	ilAA\Stable
December 20, 2006	ilAA-\Stable
October 31, 2004	ilAA
March 31, 2004	ilAA
September 01, 2003	ilAA
Short Term
December 24, 2019	ilA-1+

Discount Issuers Ltd.	Rating	First Assigned Rating	Last Date of Rating
Issuer's Rating
Short Term	ilA-1+	04/12/2019	11/11/2025
Long Term	ilAAA\Stable	01/09/2003	11/11/2025
Issuance Rating
Complex Subordinated Debt
Series 6 - Deferred Commitment Bonds with Loss Absorption Mechanism	ilAA-	02/10/2019	11/11/2025

Discount Issuers Ltd.	Rating	First Assigned Rating	Last Date of Rating
Series 7 - Deferred Commitment Bonds with Loss Absorption Mechanism	ilAA-	02/06/2020	11/11/2025
Series 8 - Deferred Commitment Bonds with Loss Absorption Mechanism	ilAA-	10/11/2021	11/11/2025
Series 9 - Deferred Commitment Bonds with Loss Absorption Mechanism	ilAA-	10/11/2022	11/11/2025
Series 10 - Deferred Commitment Bonds with Loss Absorption Mechanism	ilAA-	18/08/2024	11/11/2025
Short Term Debt
CP Series 5	ilA-1+	29/12/2024	11/11/2025
CP Series 6	ilA-1+	19/05/2025	11/11/2025
CP Series 7	ilA-1+	17/11/2025	17/11/2025
Unsecured Senior Debt
Series 16	ilAAA	02/01/2024	11/11/2025

2 | November 19, 2025 Issuance Rating

Discount Bank of Israel Ltd. Discount Issuers Ltd.

Discount Issuers Ltd.	Rating	First Assigned Rating	Last Date of Rating
Series 14	ilAAA	12/05/2018	11/11/2025
Series 15	ilAAA	11/10/2021	11/11/2025
Series 17	ilAAA	12/29/2024	11/11/2025
Subordinated Debt
Series 11 Deferred Commitment Bonds with Loss Absorption Mechanism	ilAA-	08/21/2025	11/11/2025
Issuer Rating History

Additional Information	Data
Time of Event	11:47 11/19/2025
Time Event Was First Known	11:47 11/19/2025
Rating Initiator	The Rated Company

3 | November 19, 2025 Issuance Rating

Discount Bank of Israel Ltd. Discount Issuers Ltd.

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