Cellcom Israel Ltd.

Share Issue/Capital Change • Dec 7, 2025

CELLCOM ISRAEL LTD.

Registry Number: 511930125

To:

• Israel Securities Authority (www.isa.gov.il)
• Tel-Aviv Stock Exchange Ltd. (www.tase.co.il)

Form Number: T087 (Public)

Sent via MAGNA: 07/12/2025 Confirmation Number: 2025-01-097334

Report Title

Capital Structure, Grant of Rights to Acquire Shares and Registries of the Corporation's Securities and Changes Thereto

Regulation 31E of the Securities Regulations (Periodic and Immediate Reports), 1970 Regulation 31(a) of the Securities Regulations (Periodic and Immediate Reports), 1970 Regulation 31(b1) of the Securities Regulations (Periodic and Immediate Reports), 1970 Regulation 32 of the Securities Regulations (Periodic and Immediate Reports), 1970

Nature of the Change:

"Exercise of employee options, expiration of options and restricted stock units (RSUs) for company employees."

Reference Numbers of Previous Reports on the Subject: _________, _________, _________.

1.	The	Corporation's	Securities	Holdings	After the	Change:
----	-----	---------------	------------	----------	--------------	---------

Name and Type of Security	Security Number	Quantity in Registered Capital	Issued and Paid-Up Capital: Last Report	Current Quantity	Quantity Registered under the Registration Company
Ordinary Share	1101534	300,000,000	168,021,663	168,022,779	72,728,287
BONDS Series 10	1139245		20,653,400	20,653,400	20,653,400
BONDS Series 11	1139252		142,126,800	142,126,800	142,126,800
BONDS Series 12	1143080		731,488,236	731,488,236	731,488,236
BONDS Series 13	1189190		470,169,250	470,169,250	470,169,250
Warrants to Shares (unregistered)	1106038		7,915,136	7,908,794	0
Restricted Stock Units	1159052		164,816	164,025	0
Commercial Papers 1	1203033		200,000,000	200,000,000	200,000,000

Note: All the corporation's securities must be detailed, including securities not listed for trading.

2. The Corporation Notifies That:

From the date: 01/11/2025 To the date: 30/11/2025

A change occurred in the quantity and the registry of securities holders (including rights to acquire shares) as a result of:

"Exercise of employee options, expiration of options and restricted stock units (RSUs) for company employees."

Explanation: Please describe all the details of the transaction or action causing changes in the securities of the corporation.

Details of Changes in Registered Security Holders

1. Holder: The TASE Registrar Company

ID Type: Israeli Companies Registrar Number

ID Number: 515736817

Nature of the Change: Other (exercise of options)

Date of Change: 30/11/2025

Executed via TASE Clearing House: Yes Type and Name of Security: Ordinary Share

Security Number: 1101534

Last Reported Holding: 72,727,171 Holding After Change: 72,728,287 Total Quantity Changed: 1,116

Is this a grant of rights to acquire shares?: No

2. Holder: I.B.I. Equity Compensation and Trusteeships (2004) Ltd.

ID Type: Israeli Companies Registrar Number

ID Number: 513540070

Nature of the Change: Other (exercise of options)

Date of Change: 31/10/2025

Executed via TASE Clearing House: Yes

Type and Name of Security: Warrants to shares (unregistered)

Security Number: 1106038

Last Reported Holding: 7,915,136 Holding After Change: 7,912,834 Total Quantity Changed: 2,302

Is this a grant of rights to acquire shares?: No

Other: Employee options exercised.

3. Holder: I.B.I. Equity Compensation and Trusteeships (2004) Ltd.

ID Type: Israeli Companies Registrar Number

ID Number: 513540070

Nature of the Change: Expiry Date of Change: 30/11/2025

Executed via TASE Clearing House: Yes

Type and Name of Security: Warrants to shares (unregistered)

Security Number: 1106038

Last Reported Holding: 7,912,834 Holding After Change: 7,908,794

Total Quantity Changed: 4,040

Is this a grant of rights to acquire shares?: No

Other: Expiry of employee options.

4. Holder: I.B.I. Equity Compensation and Trusteeships (2004) Ltd.

ID Type: Israeli Companies Registrar Number

ID Number: 513540070

Nature of the Change: Expiry Date of Change: 30/11/2025

Executed via TASE Clearing House: No

Type and Name of Security: Restricted Stock Units

Security Number: 1159052 Last Reported Holding: 164,816 Holding After Change: 164,025 Total Quantity Changed: 791

Is this a grant of rights to acquire shares?: No

Other: Expiry of employee restricted stock units.

Explanations

• 1. If the change affects more than one security, specify the impact for each security in a separate row.
• 1. Change date all changes of the same type, in the same security, made on the same day, are summed up in one row. For this purpose, changes made through TASE Clearing House should be distinguished from changes made directly in the company records.
• 1. The change for reduction, add the "-" sign.
• 1. For all quantity fields, fill in the number of securities and not NIS par value.

3. Main Points of the Shareholder Registry as of the Report Date:

No.	Registered Shareholder Name	ID Type	ID Number	Security Number at TASE	Type and Nominal Value of Shares	Quantity of Shares	Holding as Trustee
1							No

Attached Files:

Shareholder Register file according to Companies Law, 1999:

pdf.isa_סלקום_מרשם_בעלי_מניות_30-11-2025

• Alt: Cellcom Shareholder Register as of 30-11-2025 (PDF)
• Updated file of the Corporation's Security Registers (including option and bondholder registers):

pdf.isa_סלקום_מרשם_מחזיקי_ניע_30-11-2025

Alt: Cellcom Security Holders Register as of 30-11-2025 (PDF)

Authorized Signatory Details:

No.	Name	Position
1	Larisa Cohen	Other: Vice President Legal Counseling and Regulation

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: According to Regulation 5 of the Periodic and Immediate Reports Regulations (1970), a report submitted in accordance with these regulations must be signed by the persons authorized to sign on behalf of the corporation. ISA staff's position on the topic can be found on the Authority's website: Click here.

Short name:

Address: Hagevish 10, Netanya, 4250708

Phone: 052-9989595 Fax: 09-8607986

Email: cellcom\_sec@cellcom.co.il

Submitted by: Larisa Cohen, Vice President Legal Counseling and Corporate Secretary

Email: larisaco@cellcom.co.il

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

Form structure last updated: 06/08/2024