AFI Properties Ltd. — Capital/Financing Update 2026

May 25, 2026

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.

AFI PROPERTIES LTD
AFI PROPERTIES LTD
Registrar number: 510560188
To: Israel Securities Authority	To: Tel-Aviv Stock Exchange Ltd.	T121 (Public)	Transmitted by MAGNA: 25/05/2026
www.isa.gov.il	www.tase.co.il		Reference: 2026-01-047609

Immediate report for general material information

Explanation: Do not use this form when there is a form adapted to the reported event.

This reporting form is intended for material reports for which there is no suitable dedicated form.

Issuance results must be reported on T20 and not on this form.

A report on a rating of BONDS or a rating of a corporation must be submitted using Form T125.

Nature of the event: Examination of steps for public offerings of securities

Reference numbers of previous reports on the subject: 2026-01-043249, 2026-01-038068.

Further to the immediate reports published by the Company on 26.4.2026 and on 11.5.2026 (Reference: 2026-01-038068 and 2026-01-043249), regarding the possibility of carrying out an issuance of a new series of BONDS of the Company (hereinafter: the "Bond Issuance"), the Company hereby updates that it intends to hold an institutional tender on 26.5.2026, on the interest rate of BONDS (Series 18) of the Company, such that each unit will include NIS 1,000 par value of BONDS (Series 18). The tender will be carried out without a maximum interest for each unit and the classified investors will be entitled to an early commitment fee at the rate of $0.55\%$ of the consideration for the BONDS (Series 18) in respect of which they undertook to submit orders. In addition, the Company hereby announces that, in addition to the aforesaid, the management of the Company is examining the promotion of a process of issuing a new series of commercial papers (Series 6) (hereinafter: the "commercial papers"). The issuance of the commercial papers, if and to the extent they are issued, will be carried out within the framework of a shelf offering report to be published (if and insofar as it is published) pursuant to the Company's shelf prospectus, by way of a uniform offer, as this term is defined in the Securities Regulations (Manner of Offering Securities to the Public), 5767-2007 (the "Regulations"), by means of a tender on the annual margin rate above the bank of Israel interest that the commercial papers will bear. The Company intends on 26.5.2026 to hold a tender for receiving early commitments from classified investors as defined in the Regulations, by way of a tender on the annual margin rate above the bank of Israel interest that the commercial papers will bear, without a maximum margin, for an early commitment fee at the rate of $0.1\%$ of the total consideration that will be received for the units in respect of which they will undertake to submit orders in the public tender under the shelf offering report (if held). Attached hereto, as Appendix A, is a first draft of the terms of the commercial papers. It is emphasized that this is only a draft and that it may change, even materially, and that the binding wording shall be the wording of the terms of the commercial papers that will be included in the shelf offering report, if and to the extent it is published by the Company. For the avoidance of doubt, it is hereby clarified that the Company does not undertake to carry out any of the securities issuances as stated above, and that as of the date of this immediate report, there is no certainty regarding the execution of the said issuances, their timing, scope, and terms. Also, the publication of the shelf offering reports and the execution of the issuances, if and to the extent they are carried out, are subject to receiving all approvals required by law, including the approval of the Company's Board of Directors (including in connection with the structure of the issuances and their terms), the approval of the rating company and the approval of the Tel Aviv Stock Exchange Ltd. The execution of the securities issuances detailed above (in full or in part, if at all) is subject to the Company's discretion, and also depends on changing market conditions. Therefore, as of the date of this immediate report, there is no certainty that the issuance of the securities (all or some of them) (in full or in part) will be carried out, and this immediate report does not constitute an offer to the public to purchase the Company's securities.

Attached file Thai_Nevarot_Erech_Mischarivim_Seria6_isa.pdf

The Company is not a shell company as defined in the TASE Regulations

The date on which the corporation first became aware of the event: 24/05/2026at: 18:00

Details of the signatories authorized to sign on behalf of the corporation:

	Name of signatory	Position
1	Avi Barzilay	Chief Executive Officer

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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.

Explanation: According to Regulation 5 of the Securities Regulations (Periodic and Immediate Reports) 5730–1970, a report filed pursuant to these Regulations shall be signed by those authorized to sign on behalf of the corporation. Staff position on this matter can be found on the Authority's website: Click here.

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

Securities of the corporation are listed for trading on the Tel Aviv Stock Exchange	Form structure update date: 06/08/2024
Short name: AFI PROPERTIES
Address: Yael Man (Allied Cities Tower)1, Ramat Hasharon4734501 Telephone: 03-5393562, Fax: 03-5393523
Email: eranf@afi.global Company website: https://afi-properties.com
Previous names of reporting entity: Africa Israel Properties Ltd
Name of electronic reporter: Eran PodemPosition: VP and General CounselEmployer company name: Address: Allied Cities Tower, 25th floor0, Ramat Hasharon4713402Telephone: 03-5393562Fax: 03-5393678Email: eranf@afi.global