Bank Leumi Le-Israel B.M.

Capital/Financing Update • Dec 7, 2025

7 December 2025

Bank Leumi Le-Israel B.M. (the Bank)

To: To:

Israel Securities Authority Tel Aviv Stock Exchange Ltd.

www.magna.isa.gov.il www.maya.tase.co.il

Dear Sir/Madam,

Subject: Partial Mandatory Early Redemption of CPI-Linked Credit Bonds (Series 1), (Series 2), (Series 3) and (Series 4) issued to institutional investors

The Bank is honored to announce as follows:

A.

Mandatory Early Redemption of CPI-Linked Credit Bonds (Series 1)

According to Section 5.2.5 of the terms listed on the overleaf attached to the Trust Deed dated August 6, 2023, between the Bank and Hermetic Trust (1975) Ltd. (the Trustee), as published by the Bank on August 6, 2023 (Reference No.: 2023-01-090219) (Trust Deed Series 1), according to which the CPI-Linked Credit Bonds (Series 1) (the Bonds Series 1) were listed for trading on the institutional investors trading system of the Tel Aviv Stock Exchange Ltd. (the stock exchange), a partial early repayment was made for some of the loans according to the Trust Deed Series 1.¹ Accordingly, in accordance...

with the provisions of Trust Deed Series 1, the Bank shall make a partial mandatory early redemption of the principal of the Bonds, all as detailed

below (the Mandatory Early Redemption Series 1):

Details about the early redemption (in NIS):

Series name	Securities code	Series maturity date	Outstanding balance of principal before mandatory early redemption	Mandatory early redemption amount	Early redemption rate in outstanding series terms	Early redemption rate in series terms	Annual interest²	Total early redemption payment³	Outstanding balance of principal in series terms after early redemption
CPI Linked Credit Bonds (Series 1)	1198639	24.12.2026	57,400,550	5,033,800.0	8.76960%	1.00676%	Interest Bi +2.30%	5,033,800.0	10.47335%

B.

Mandatory Early Redemption of CPI-Linked Credit Bonds (Series 2)

According to Section 5.2.5 of the terms listed on the overleaf attached to the Trust Deed dated April 16, 2024, between the Bank and the Trustee, as published by the Bank on April 16, 2024 (Reference No.: 2024-01- 043524) (Trust Deed Series 2), according to which the CPI-Linked Credit Bonds (Series 2) (the Bonds Series 2) were listed for trading on the institutional investors trading system of the exchange, a partial early repayment was made for some of the loans according to the Trust...

¹ According to the provisions of Section 5.2.7 of the terms listed on the overleaf attached to the Trust Deed, the minimum amount for early redemption shall not be less than NIS 1 million. Therefore, it is possible that the mandatory early redemption according to this report is performed according to several measurement dates (as dened in the Trust Deed).

² The annual interest rate specied in the trust deed of the bonds.

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.

³ The liability value of the bonds (Series 1), which includes the principal amount, plus interest, as relevant.

2024-06-20

2 Accordingly, pursuant to the terms of the Series 2 Deed of Trust, the Bank shall execute a partial mandatory early redemption of the principal of the Bonds, all as detailed below (the "Series 2 Mandatory Early Redemption"): Details regarding the early redemption (in NIS):

Series name	Security number	Series maturity date	Outstanding principal before execution of mandatory early redemption	Amount of mandatory early redemption	Early redemption rate as per outstanding Series terms	Early redemption rate as per Series terms	Annual interest rate⁵	Total early redemption fee⁶	Remaining outstanding principal after early redemption as per Series terms
Credit linked Bonds (Series 2)	1205897	24.08.2030	606,189,443.0	8,258,032.0	1.36228%	1.03453%	Bi Interest +2.30%	8,258,032.0	74.90622%

c.

Mandatory Early Redemption of Credit-Linked Bonds (Series 3)

1. Pursuant to the provisions of Section 5.2.6 of the terms listed overleaf attached to the Deed of Trust dated December 19, 2024, between the Bank and Mishmeret – Company for Trust Services Ltd., as published by the Bank on December 19, 2024 (reference number: 2024-01-625861) (the "Series 3 Deed of Trust"), under which the Credit-linked Bonds (Series 3) (the "Series 3 Bonds") were registered for trading on the institutional investors' trading system of the stock exchange, a partial repayment was made of certain loans in accordance with the Series 3 Deed of Trust⁷. Therefore, pursuant to the provisions of the Series 3 Deed of Trust, the Bank shall execute a partial mandatory early redemption of the principal of the Bonds, all as detailed below (the "Series 3 Mandatory Early Redemption"): Series 3 Mandatory Early Redemption):

Details regarding the early redemption (in NIS):

Series name	Security number	Series maturity date	Outstanding principal before execution of mandatory early redemption	Amount of mandatory early redemption	Early redemption rate as per outstanding Series terms	Early redemption rate as per Series terms	Annual interest rate⁸	Total early redemption fee⁹	Remaining outstanding principal after early redemption as per Series terms
Credit linked Bonds (Series 3)	1215029	24.5.2035	1,265,809,931.0	1,416,130.0	0.11188%	0.09622%	3.69%	1,416,130.0	85.91015%

1. An updated amortization schedule of the principal of the Bonds (Series 3), which reects the execution of the mandatory early redemption for Series 3, is attached as Appendix A to this report.

d.

Mandatory Early Redemption of Credit-Linked Bonds (Series 4)

2024-06-06

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According to the provisions of section 5.2.5 of the terms registered on the reverse side of the pages attached to the deed of trust dated May 21, 2025, between the bank and the trustee, as published by the bank on May 21, 2025 (reference number: 2025-01-035580) (Deed of Trust Series 4), pursuant to which credit-linked bonds (Series 4) (the bonds of Series 4) were listed for trading on the TASE UP institutional trading system, no partial repayment was made

on some of the loans in accordance with Deed of Trust Series 4.10. Therefore, according to the provisions of Deed of Trust Series 4, the bank will not make a partial mandatory early redemption of the principal of the Series 4 bonds.

E. General:

• 1. The execution date of the mandatory early redemption in respect of Series 1, Series 2, and Series 3 (hereinafter together: the mandatory early redemption execution date) will be on Wednesday, 24/12/2025 (the mandatory early redemption execution date). It should be noted that according to the provisions of Deed of Trust Series 1, Deed of Trust Series 2, Deed of Trust Series 3, and Deed of Trust Series 4 (together: the deeds of trust), the execution date of the mandatory early redemption will occur on the monthly interest payment date in respect of the bonds, which is closest after the date of this notice.
• 1. Additionally, according to the provisions of the deeds of trust, the mandatory early redemption will be carried out with respect to all holders of Series 1 bonds, Series 2 bonds, Series 3 bonds, and Series 4 bonds who are registered in the bondholders' register at the end of the day which falls six (6) days before the mandatory early redemption execution date, namely on Thursday, December 18, 2025.

Respectfully,

Bank Leumi Le-Israel B.M.

By: Gilad Asheri, Head of Infrastructure and International Financing Division, Business Division

10 According to the provisions of section 5.2.8 of the terms registered on the reverse side of the pages attached to the deed of trust, the minimum amount for early redemption shall not be less than 1 million NIS. Therefore, it is possible that the mandatory early redemption reported herein was carried out in accordance with several measurement dates (as dened in the deed of trust).

2024-06-18

4 Appendix A Updated Amortization Schedule for Credit-Linked BONDS (Series 3)

Upon the execution of the early redemption according to this report, the principal of the Credit-Linked BONDS (Series 3) shall be repaid in thirteen (13) installments, as detailed in the amortization schedule below:

#	Payment Date	Payment Amount¹¹	Payment Rate in Terms of the Series, 45' Occurring of Credit-Linked BONDS (Series 3) Principal	The Borrower to whom the Payment Date is Assigned
1.	24/07/2026	11,999,996.48	0.94907%	B
2.	24/08/2026	140,460,756.80	11.10894%	D
3.	24/02/2027	159,119,951.89	12.58468%	T
4.	24/08/2027	260,388,837.99	20.59397%	D, Z
5.	24/08/2028	54,708,356.63	4.32684%	D, V
6.	24/09/2028	88,636,697.40	7.01021%	V
7.	24/12/2028	10,399,996.95	0.82253%	B
8.	24/02/2029	7,237,248.16	0.57239%	B
9.	24/10/2030	260,857,538.88	20.63104%	H
10.	24/01/2031	120,068,506.26	9.49613%	G
11.	24/02/2031	23,115,955.07	1.82822%	G
12.	24/01/2034	127,399,958.26	10.07597%	E
13.	24/05/2035	-	0.00000%	A
	Total	1,264,393,800.79	100.00000%	-

It is claried that every payment according to the amortization schedule of Series 3 BONDS is assigned to the nal repayment date of one or more loans of one or more borrowers according to the Series 3 Trust Deed, as detailed in the table above, for which the bank purchased protection under the Series 3 Trust Deed, so that: (a) Each payment date in the amortization schedule of Series 3 BONDS is set for a date six months after the last contractual repayment date of the loans linked to that payment date,¹² and (b) The amount of each payment in the amortization schedule of Series 3 BONDS reects the relevant reference amount for the loan or loans linked to that payment date.

Notwithstanding the above, the amortization schedule as stated is correct as of the date of this report and is expected to change in the event the bank determines that a credit event has occurred (see Section 6 of the Series 3 Trust Deed) or an early repayment is made with respect to any of the loans (see Sections 5.1 and 5.2 of the terms listed overleaf). In the event of such a change, the bank will prepare a new amortization schedule that will reect the updated amounts and repayment dates and will be published as required under the provisions of the Series 3 Trust Deed.

¹¹ Reects the reference amount, as dened in Section 1.4 of the Series 3 Trust Deed and as detailed in Appendix B to the Series 3 Trust Deed.

¹² According to the contractual repayment dates as they exist on the date of signing the Series 3 Trust Deed, where the aforementioned six months include all grace periods the relevant borrower is entitled to in relation to that loan, according to its terms.

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.

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12/7/2025 | 1:33:46 PM