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 Issuance Results According to a Shelf Offering Report Dated May 27, 2026

In accordance with Section 30 of the Securities Law, 1968, and the Securities Regulations (Notice of Offering Results in Prospectus), 1970, AFI Properties Ltd (hereinafter: the "Company") is honored to hereby announce the results of the issuance according to the Company's shelf offering report dated May 27, 2026 (hereinafter: the "Shelf Offering Report"), published according to the Company's shelf prospectus dated February 9, 2026 (published on February 8, 2026).

According to the Shelf Offering Report, the following were offered to the public by way of a uniform offer:

Up to NIS 522,223,000 par value of commercial papers (Series 6) of the Company, registered in the name, which were offered in 522,223 units, each including NIS 1,000 par value commercial papers (Series 6) at a price per unit of NIS 1,000, by way of a tender for the annual interest spread rate above the bank of Israel interest that the interest of the commercial papers (Series 6) will bear, all as detailed in the Shelf Offering Report.

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

1.1 As part of the Tender, 9 orders were received for the purchase of 460,000 units with a total monetary value of approximately NIS 460 million (of which 450,000 units were part of a prior commitment of 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.

1.2 In accordance with Section 1.2 of the Company's Shelf Offering Report, and given that according to the Tender results the total demand received as stated above reflects a par value of commercial papers (Series 6) of the Company exceeding NIS 450,000,000 par value commercial papers (Series 6), the Company reports that it has chosen to issue a total of NIS 450,000,000 par value commercial papers (Series 6) (the "Amount Issued to the Public"). Therefore, the surplus amount, as defined in Section 1.2 of the Shelf Offering Report, is NIS 10,000,000 par value commercial papers (Series 6), and the allocation to the bidders whose requests were accepted in the Tender as stated above will be performed according to the ratio (pro-rata) between the Amount Issued to the Public of commercial papers (Series 6) (namely, NIS 450,000,000 par value commercial papers (Series 6)) and the amount of demand actually received, such that each bidder whose request is accepted according to the Tender results will be allocated approximately $97.82\%$ of the allocation scope according to the Tender results (based on the calculation $450,000,000 / 460,000,000 = 97.82\%$).

1.3 The spread rate determined in the Tender is $0.27\%$ (hereinafter: the "Closing Spread").

The allocation of units in the Tender was made in accordance with the provisions of the Shelf Offering Report, as detailed below:

1.4 6 orders from classified investors for the purchase of 400,750 units, in which an interest spread lower than the determined interest spread was specified, were partially accepted, and out of which 392,038 units were received.

1.5 One order from a classified investor for the purchase of 49,250 units, in which the determined interest spread was specified, was partially accepted, and out of which 48,179 units were received.

1.6 2 orders from the public for the purchase of 10,000 units, in which the determined interest spread was specified, were partially accepted, and out of which 9,783 units were received.

1. In light of the above, in total, the Company will issue 450,000 units of commercial papers (Series 6) with a total par value of approximately NIS 450,000,000.

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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.

1. The (gross) proceeds to be received by the Company as part of the public offering of the commercial papers (Series 6) totals NIS 450 million.
2. The first trading and clearing day after the Tender date is Monday, June 1, 2026.
3. The offer of commercial papers (Series 6) under the Shelf Offering Report was not guaranteed by underwriting.
4. The commercial papers (Series 6) are issued for the first time, in exchange for their par value, without discount.

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

Respectfully,

AFI Properties Ltd

Signed by: Avi Barzilay, CEO

5/29/2026 | 3:42:50 AM | v1.2.5