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Kvutzat Acro Ltd.

Major Shareholding Notification • Oct 15, 2025

6620_rns_2025-10-15_bb110de5-4e42-45d2-93ab-f4f913530f90.pdf

Major Shareholding Notification

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KVUTZAT ACRO LTD

KVUTZAT ACRO LTD

Registration Number: 511996803

To: Israel Securities Authority To: Tel Aviv Stock Exchange Ltd. Form Number: T078 (Public) Filed on MAGNA: 15/10/2025 www.isa.gov.il www.tase.co.il Reference: 2025-01-075212

Immediate Report on a Person Becoming an Interested Party in the Corporation

Regulation 33(e)-(f) of the Securities Regulations (Periodic and Immediate Reports), 1970

1. Holder Details:

First
Name:
First
Name
in
English
as
appears
in
passport:
Last
Name/Corporation
Name:
MIGDAL
INSURANCE
&
FINANCIAL
HOLDINGS
LTD.
Last
Name/Corporation
Name
in
English:
Migdal
Insurance
and
Financial
Holdings
Ltd
Identification
Type
of
Number:
Number
in
the
Israeli
Companies
Registrar
☑
The
holder
is
a
corporation
Identification
Number:
520029984
Citizenship/
Country
of
Incorporation
or
Registration:
Incorporated
in
Israel
Country
of
Citizenship/
Incorporation
or
Registration:
Address:
4
Efal
St.,
Petah
Tikva

Is the holder acting as a representative for the purpose of reporting on several shareholders

Name of controlling shareholder in the interested party: See below

holding together securities of the corporation: Yes

Identification number of the controlling shareholder in the interested party: 515703528

2. Details of the Action by which the Holder Became an Interested Party in the Corporation:

a.
Nature
of
the
action:
Increase
due
to
purchase
on
the
stock
exchange
Explanation:
b.
Name
and
type
of
security
subject
to
the
action:
Acro
ordinary
share
c.
Security
number
on
the
stock
exchange:
1184902
d.
Date
of
action:
30/09/2025
e.
Quantity
of
securities
subject
to
the
action:
3,988
f.
Price
at
which
the
action
was
performed:
4,388.91
agorot
g.
Are
these
dormant
shares
or
securities
convertible
into
dormant
shares:
No
h.
Was
the
entire
consideration
paid
at
the
time
of
the
change:
Yes
If
not
all
the
consideration
was
paid
at
the
time
of
the
change,
please
specify
the
date
of
completion
of
payment:

3. a. Holdings of the Interested Party after the Action:

Name,
Type,
and
Series
of
Security		 Security
Number
on TASE		 Quantity
of
Securities		 Dormant* Holding
Percentage		 %
Equity		 %
Voting		 Fully
Diluted
Holding
Percentage		 %
Equity		 %
Voting
Acro
ordinary
share		 1184902 3,155,756 No 5 5 5 4.91 4.91 4.91
disclaimer.
☐
☐
b.
The
holder
is
not
a
member
of
an
institutional
reporting
group.
The
holder
is
not
a
officer
member
of
an
institutional
reporting
group,
but
serves
as
a
senior
who
is
not
a
CEO
or
☐
director
and
is
not
an
interested
party
by
virtue
of
his
holdings.
The
holder
is
a
hedge
fund
defined
as
in
the
Joint
Investment
Trust
Regulations
(Permitted
Assets
and
Their
Maximum
Rates),
1994.
The
hedge
fund
has
the
right
to
appoint
a
director
or
representative
to
the
☑
company's
board:

The
holder
is
a
member
of
an
institutional
reporting
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

Below is a breakdown of holdings:

Holder Name,
Type,
and
Series
of
Security		 Security
Number		 Quantity
of
Securities		 Dormant
Life
insurance
profits
participating
in
accounts		 Acro
ordinary
share		 1184902 2,056,437 No
Life
insurance
profits
participating
in
accounts		 Acro
Bond
A		 1188572 69,615,290 No
Companies
managing
mutual
investment
funds		 Acro
ordinary
share		 1184902 1,099,319 No
Companies
managing
mutual
investment
funds		 Acro
Bond
A		 1188572 28,115,121 No
Companies
managing
mutual
investment
funds		 Acro
Bond
E		 1226059 16,263,470 No

Explanations:

    1. If the interested party holds more than one type of security, the holding percentages should be indicated considering all securities held by him only in one row.
    1. Holdings of other securities, including those not listed for trading, should also be reported.
    1. If the interested party is a subsidiary, the holdings should be split between shares acquired before the Companies Law, 1999 came into effect and those acquired after.
    1. If the holder is not a member of an institutional reporting group, only section 3a should be completed. If the holder is a member of an institutional reporting group, both sections 3a and 3b should be completed.
    1. If the interested party is a corporation wholly owned (100%) by a single controlling shareholder, the name of the single controlling shareholder should be indicated in the "Holder Name" field, and the details of the corporation(s) through which the shares are held, along with any other relevant details, should be provided in the notes at the bottom of the form. Conversely, if the interested party is a corporation held by more than one controlling shareholder or by several interested parties, the name of the holding corporation should be indicated in the "Holder Name" field, and the details of the controlling shareholders or interested parties holding the holding corporation should be provided in the notes at the bottom of the form.
    1. Reporting regarding a material means of control holder in a banking corporation without a control core should be reported in report T121.
  • Please indicate whether these are dormant shares or securities convertible into dormant shares.

4.

☑ The interested party does not hold shares or other securities in a held company, if its activity is material to the activity of the reporting corporation. ☐ The interested party holds shares or other securities in a held company, if its activity is material to the activity of the reporting corporation, as detailed below:

1 Name
of
the
held
company
if
its
activity
is
material
to
the
activity
of
the
reporting
corporation:
identification
Type
of
number:
Identification
number:
Country
of
incorporation
or
registration:

Country:
Nature
of
the
relationship
to
the
reporting
corporation:
Type
of
security:

Security
number:
Quantity
of
securities:
Holding
percentage
of
total
securities
of
the
same
type:
%
Holding
percentage
in
equity:
%

Holding
percentage
in
voting
rights:
%

5. Additional Details:

6. Date and Time the Corporation First Became Aware of the Event or Matter

14/10/2025 at 20:00

Details of the Authorized Signatories on Behalf of the Corporation:

Signatory
Name		 Position
1 Ziv
Yaakobi		 CEO
and
Director

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

To the best of the company's knowledge and as reported to it by the interested party, as of the date of the interested party's notice, Mr. Shlomo Eliyahu is the ultimate controlling shareholder of MIGDAL INSURANCE & FINANCIAL HOLDINGS LTD ("Migdal") and holds 45.50% of Migdal's issued and paid-up share capital ["share capital"], through ELIAHU ISSUES LTD. ELIAHU ISSUES LTD is wholly owned by Eliyahu 1959 Ltd.

To the best of the company's knowledge, and as reported to it by the interested party, the shareholders of Eliyahu 1959 Ltd are: Mr. Shlomo Eliyahu, holding 25.14% of the capital and 98% of the management shares, Mrs. Chaya Eliyahu, holding 0.02% of the capital and 2% of the management shares, Shlomo Eliyahu Holdings Ltd, holding 61.7% of the capital, and Achim Eliyahu Trust and Investments Ltd, holding 13.14% of the capital. The shareholders of Shlomo Eliyahu Holdings Ltd are Mr. Shlomo Eliyahu holding 83.31% and Mrs. Chaya Eliyahu holding 16.69%. The sole shareholder of Achim Eliyahu Trust and Investments Ltd is Eliyahu 1959 Ltd, whose shareholders are as detailed above.

Note regarding the holding of the company's shares: The holdings in the company's shares listed under life insurance participating in profits accounts are held by the partnership "Migdal Sal – Israeli Shares" ("the partnership"). The partnership is a registered partnership, all of whose rights holders are companies from the Migdal institutional reporting group. The partnership itself is not a life insurance participating in profits account and/or a management company. According to the agreements among the partners in the partnership, the holding percentage of the rights holders in the partnership changes frequently, according to the mechanism set in the partnership agreement. Below are the holding percentages in the partnership of the rights holders in the partnership as of the date of the interested party's notice: Insurer for life insurance participating in profits accounts 40.09%, pension and provident funds – 59.91%.

The holdings in the company's bonds listed under life insurance participating in profits accounts are held by the partnership "Migdal Sal – Corporate Bonds in Israel" ("the partnership"). The partnership is a registered partnership, all of whose rights holders are companies from the Migdal institutional reporting group. The partnership itself is not a life insurance participating in profits account and/or a management company. According to the agreements among the partners in the partnership, the holding percentage of the rights holders in the partnership changes frequently, according to the mechanism set in the partnership agreement. Below are the holding percentages in the partnership of the rights holders in the partnership as of the date of the interested party's notice: Insurer for life insurance participating in profits accounts 46.27%, pension and provident funds – 53.73%.

Reference numbers of previous documents on the subject (the mention does not constitute inclusion by reference):

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

Form structure update date: 04/02/2025

Short name: KVUTZAT ACRO LTD

Address: Hamnufim 2, Herzliya 4672553 Phone: 09-9718900, Fax: 09-9718901

Email: [email protected] Company website: www.acronadlan.com

Previous names of the reporting entity: Arbov Investments Ltd

Electronic reporter name: Lazer Arbiv Vered Position: Legal Advisor and Company Secretary

Employer company name: Acro Real Estate Initiation Ltd

Address: Hamnufim 2, Herzliya 4672553 Phone: 09-9718900 Fax: 09-9718901 Email:

[email protected]

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