AFI Properties Ltd. — Capital/Financing Update 2026

May 29, 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. .

May 29, 2026

Subject: Notice of Offering Results according to the Shelf Offering Report dated May 27, 2026

In accordance with Section 30 of the Securities Law, 5728-1968, and the Securities Regulations (Notice of Offering Results in a Prospectus), 5729-1969, AFI Properties Ltd. (hereinafter: the "Company") is honored to hereby announce the results of the offering according to the Company's shelf offering report dated May 27, 2026 (hereinafter: the "Shelf Offering Report"), published pursuant to the Company's shelf prospectus dated February 9, 2026 (published on February 8, 2026).

1. According to the Shelf Offering Report, the public was offered, by way of a uniform offering:

Up to 894.737.000 NIS par value of BONDS (Series 18) of the Company, registered by name, which were offered in 894.737 units, each comprising 1,000 NIS par value BONDS (Series 18) at a price per unit of 1,000 NIS, by way of a tender on the interest rate, where the composition of each unit and its price are as detailed below.

2. Below are the results of the tender held on May 28, 2026 (hereinafter: the "Tender"):

2.1 Within the framework of the Tender, 62 orders were received for the purchase of 800.105 units with a total monetary value of approximately 800.1 million NIS, of which 60 orders for the purchase of 800.000 units were received within the framework of a prior commitment from classified investors (hereinafter: the "Classified Investors"), as detailed in Section 3 of the Shelf Offering Report, and the rest of the orders were received from the public.

2.2 In accordance with what is stated in Section 1.1 of the Company's Shelf Offering Report, and in view of the fact that according to the results of the Tender, the total demand received as stated above reflects a par value of BONDS (Series 18) of the Company exceeding 800.000.000 NIS par value. BONDS (Series 18), the Company reports that it chose to issue within the framework of the offering a total of 800.000.000 NIS par value BONDS (Series 18) ("the Amount Issued to the Public"). Therefore, the excess amount, as defined in Section 1.1 of the Shelf Offering Report, is 105.000 NIS par value BONDS (Series 18) and the allocation to the bidders who were accepted within the framework of the Tender as stated above, will be performed according to the ratio (pro-rata) between the amount issued to the public of BONDS (Series 18) (namely, 800.000.000 NIS par value BONDS) and the quantity of demand actually received for the BONDS (Series 18), in a manner that approximately 99.98% of the allocation scope according to the results of the Tender will be allocated to each bidder whose request is accepted according to the results of the Tender (according to the calculation 800.000.000 / 800.105.000 = 99.98%).

2.3 The annual interest rate determined in the Tender is 4.48%, accordingly, the semi-annual interest rate is 2.24%, and the interest rate that will be paid for the first interest period (as stated in Section 2.12 of the Shelf Offering Report) is 2.23386%.

3. The allocation of units in the Tender was done in accordance with the provisions of Section 2 of the Shelf Offering Report, as detailed below:

3.1 54 orders from classified investors for the purchase of 768.517 units, in which an interest rate lower than the determined interest rate was specified, were partially answered, and of which 768.416 units were accepted.

3.2 One order from the public for the purchase of 75 units, in which an interest rate lower than the determined interest rate was specified, was fully answered.

3.3 6 orders from classified investors for the purchase of 31.483 units, in which the determined interest rate was specified, were partially answered, and of which 31.479 units were accepted.

3.4 One order from the public for the purchase of 30 units, in which the determined interest rate was specified, was fully answered.

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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.

In light of the above, in total the Company will issue 800.000 units of BONDS (Series 18) at a total par value of approximately 800.000.000 NIS BONDS.

1. BONDS (Series 18) of the Company were issued without a discount.

2. The (gross) proceeds to be received by the Company within the framework of the public offering of BONDS (Series 18) totals 800 million NIS.

3. The offering of BONDS (Series 18) according to the Shelf Offering Report was not guaranteed by underwriting.

4. Following the allocation as stated above, the conditions established in the TASE Regulations and directives regarding minimal distribution of BONDS (Series 18) and regarding a minimum value of public holdings in BONDS (Series 18) of the Company are met.

The Company thanks the public of bidders who submitted requests to purchase the units.

Respectfully,

AFI Properties Ltd.

Signed by: Avi Barzilay, CEO

5/29/2020 | 3:37:53 AM | v1.2.5