G City

Major Shareholding Notification • Dec 7, 2025

Immediate Report on Changes in Holdings of Interested Parties and Senior Officers

Regulation 33(b) of the Securities Regulations (Periodic and Immediate Reports), 1970

Note: This form is intended only for reporting changes in the holdings of securities of the reporting corporation. To report a change in holdings of securities of a company held by the reporting corporation, if its activity is material to the activity of the reporting corporation, use form T121.

Name of Corporation/Last Name and First Name of the Holder
Norstar Holdings Inc. including through wholly owned subsidiaries
Name in English as registered with the Registrar of Companies or Passport: Norstar Holdings Inc
Type of identification number: Registrar number in the country of incorporation abroad
Identification number: 44528798375
Type of holder: Interested party who does not meet any of the other definitions
The hedge fund has the right to appoint a director or representative on the company's board:
Is the holder acting as a representative for reporting of several shareholders holding together: No
Name of controlling shareholder in the interested party: See Note 1
Identification number of the controlling shareholder in the interested party: See Note 1
Citizenship/Country of incorporation or registration: Incorporated abroad
Country of citizenship / incorporation or registration: Panama
Security number on the exchange: 126011
Name and type of security: Ordinary share
Nature of the change: Increase
Due to purchase on the stock exchange
Is the change from a single transaction or aggregate transactions: Single transaction
Date of change: 04/12/2025
Transaction price: 967
Currency: agorot
Are these dormant shares or convertibles to dormant: No
Previous balance (number of securities) in last report: 92,672,531
Holding percentage of all securities of the same type in last report: 49.74%
Change in quantity of securities: +50,000
Current balance (number of securities): 92,722,531
Current holding percentage of all securities of the same type: 49.79%
Holding percentage after the change: Capital: 49.82%
Voting rights: 49.82%
Holding percentage after the change at full dilution: Capital: 41.37%
Voting rights: 41.37%
Note number: 1

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.

Note: Explanation: The holding percentage after the change does not refer to convertible securities.

Note 1:

As detailed in Regulation 21A of the companys periodic report for 2024, published on March 20, 2025 (Reference: 2025-01-018556), which is hereby incorporated by reference, the controlling shareholder of the company is Norstar Holdings Inc. ("Norstar"), a foreign resident company registered in Panama whose securities are traded on the Tel Aviv Stock Exchange Ltd. The controlling shareholder of Norstar is Mr. Chaim Katzman, who holds Norstar shares, both directly and indirectly via private companies owned by himself and his family, amounting to approximately 9.42% of the issued share capital of Norstar (9.42% on a fully diluted basis) and 9.42% of the voting rights (9.42% on a fully diluted basis), including through First US Financial LLC ("FUF"), holding approx. 7.34% of Norstar's share capital (7.34% fully diluted), and voting rights (7.34% fully diluted), and via Aurora Capital Holdings LLC ("Aurora"), holding approx. 12.68% of Norstar's share capital (12.68% fully diluted) and voting rights (12.68% fully diluted) ("Aurora", "FUF" together with Mr. Katzman: "the Katzman Group"). In addition, the Katzman Group is considered as "acting together" as defined in the Securities Law, with Katzman Family Foundation, holding approx. 2.62% of Norstar's issued share capital (2.62% fully diluted) and voting rights (2.62% fully diluted). Furthermore, on March 27, 2022, Mr. Chaim Katzman, the company's controlling shareholder, entered into an agreement with A.Y.L Sela 1991 Ltd ("Sela"), by which Sela granted Mr. Katzman a power of attorney to vote all Sela's shares in Norstar (which as of this report constitute about 3.85% of the companys share capital and voting rights), as may be from time to time. Under the agreement, Sela granted the Katzman Group a right of first refusal regarding Norstar securities Sela wishes to sell, and Mr. Katzman granted Sela a tag-along right in case of sale of Norstar shares by the Katzman Group, except for transfer to a permitted transferee. In accordance with the agreement, Sela has become part of Norstar's controlling group. The agreement remains in force until the earlier of (a) five years from the agreement date; or (b) when any party (including a permitted transferee) no longer holds Norstar securities. As such, Sela is now part of the Norstar controlling group.

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.
1. Was full consideration paid at the date of change?
Yes 2. If not, specify date of final payment:
3. If the change is through signing of loan agreement, provide details of end of loan:
Explanation: Holding percentages are to be stated considering all securities held by the interested party.
4. Date and time the corporation first became aware of the event/subject:
04/12/2025, Time: 17:23
5. Details of actions causing the change:

Details of authorized signatories for the corporation:

#	Name	Position
1	Revital Kahlon	Other, Deputy CEO, Legal Advisor and Corporate Secretary

Explanation: According to Regulation 5 of the Securities (Periodic and Immediate Reports) Regulations (1970), reports submitted under these regulations must be signed by those authorized to sign on behalf of the corporation. Staff position on the subject can be found on the Authority's website: Click here

Previous names of reporting entity: Gazit-Globe Ltd, Gazit-Globe (1982) Ltd, Glob-REIT Investments Ltd.

Short name: G CITY

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.

Address: 8 Aharon Becker, Tel Aviv, 6964316 Telephone: 03-6948000 Fax: 03-6961910 Email: IRGG@gazitgroup.com

Website: www.gazitglobe.com Electronic signatory: Klein Ben David Tal

Position: Attorney/Legal Advisor

Address: 8 Aharon Becker, Tel Aviv, 6964316 Telephone: 03-6948000 Fax: 03-6961910 Email: tklein@G-City.com

Reference numbers of previous documents on the subject (the mention is not to be deemed an incorporation by

reference):

(None Provided)

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

Date of form update: 04/02/2025

No images are present in the original Hebrew document.