Alony Hetz

Investor Presentation • Mar 11, 2025

2025 MARCH - UPDATE BUSINESS GROUP - PRESENTATION INVESTOR

.document Hebrew original the of translation unofficial an constitutes document This for prepared was translation This .version binding the is version Hebrew The .only purposes convenience

solely intended is and ,")Company the (".Ltd Investments and Properties Hetz Alony by prepared was presentation This receive to invitation an or Company the of securities sell or purchase to offer an constitute not does It .investors for basis a constitute not does presented information The .information provide to solely intended is and ,noted as ,bids .judgment s'investor the for substitute a not is and opinion or recommendation ,decision investment an reaching for

its and Company the of operations the of analysis an to relates that all in ,presentation the of contents The activities s'Company the of picture complete a obtain to order in and ,summary a merely is ,investees ,prospectus shelf s'Company the review should one ,contends Company the which with risks the and public the ("system MAGNA the through reported are that reports quarterly and periodic ,immediate its differently edited and presented are that information and data includes presentation The .")information in included data the from calculated be could that such or reports said the in included data the than .information public the for substitute a not is herein presented information The .reports s'Company the

Presentation the to Notes General Hetz Alony

under not is and certain not is materialization whose ,events future to related data ,estimates ,assessments ,Forecasts estate real the in trends of development ,forecasts macroeconomic ,investees its and Company the of control the ,produced quantity the and prices electricity in changes ,occupancies and rents in changes ,markets energy and construction and initiation the 2025, for forecast dividends ,forecasts FFO and NOI of calculations ,forecasts revenue expected to related data ,costs construction ,timetables expected (field energy the in projects including ,projects of are ,shares JPM of purchase the of realization the) revenues future and grids electricity the to plants of connection based is information such and ,)1968 (Law Securities the of A32 Section in defined as ,information looking-forward experience past on based ,faith good in conducted was which ,Company the of assessment subjective the on solely the of state current the to related data and facts on based ,Company the by aggregated how-know professional the and from Company the by gathered data macroeconomic and facts on and ,investees its and Company the of businesses .("information looking-forward ("prepared was presentation this when Company the to known as all ,sources other

by ,alia inter ,impacted be will information looking-forward the of materialization-non or materialization The economic the in developments by and ,investees its and Company the of operations the characterize that factors risk operating s'Company the ,therefore and ,)particular in Israel in and general in globally (environment geopolitical and .presentation this in provided that from significantly differ could results

HETZ ALONY ³

sectors two on Focus

producing-Income properties

energy Renewable

companies Group The stable ,constant generate cash term-long and .flows

companies Group The the in engaged are projects of development the with accordance in the by determined scopes the of directors of boards .companies group

operates Group The of awareness with social and environmental the and responsibility its of consequences to holding while activities governance corporate high .standards

financial Conservative - policy management of level high a maintaining financial ,assets unpledged term-long with liabilities credit diverse ,durations unutilized maintaining ,sources efficient and facilities credit .ratios leverage

Strategy Business

USA / ENERGIX

HETZ ALONY

date publication report the until 2024 of beginning the from events Key

Aaron .Mr to allocated were warrants option and shares ,these Of .million 338 NIS totaling ,warrants option the all of exercise

.(Everlast Brockton in leverage and debt reduce to is million 316 NIS which of (million 852 NIS totaling investees in Investment•

.building 2ToHa the of part top the in sqm thousand 60 lease will Google whereby agreement lease binding of Signing•

equity requiring million 165 GBP of amount the in loans by million 227 GBP of amount the in loans maturing of Refinance•

16%. by increased was rent s'tenant the which in S&M with House Waterside for process Review Rent the of Completion•

.building Center Midtown the in) sqm thousand 32 (feet square thousand 342 lease to Mae Fannie with lease new a of Signing•

-

-

Index -35TA in included :TASE

and generation Electricity renewable with storage USA Israel in sources energy Poland and

energy Renewable

presentation this of date publication of as Structure Holdings

HETZ ALONY

Composition Portfolio Investment *Economic / 2024 December of as

Million NIS / 2025 for Dividends of Forecast

ILS million 642 totaling equivalents cash and cash Excluding*

(presentation the on comments general see (information looking-forward is This* (realized if (redemption holdings JPM of impact the Ignoring**

Portfolio Investment HETZ ALONY

million NIS / 2024 in IFRS Portfolio Investment in Changes

2029 2028 2027 2026

and thereafter

in facilities credit has Company The which ,million 500 NIS of amount the s'presentation the of as unutilized are .date publication

"3Aa "rated are bonds s'Company The and Midroog by outlook negetive .alot'Ma by outlook negetive" ilAA"

s'Company the of None .pledged are properties

compliance in is Company The of covenants financial the all with .facilities credit and bonds the

financial s'Company the of All .credit bank-non is debt

(solo expanded Company (Leverage and Debt Financial of Structure HETZ ALONY

to According NAV adjusted (13 slide see(

(IFRS (Value Book

- share per equity in Changes million NIS \ shareholders majority

• 2024 in equity in Changes million NIS \ shareholders majority

• equity in Changes million NIS \ shareholders majority

.investments its of respect in exposure currency hedging partially of policy a has Company The*

Equity HETZ ALONY

2025 March - Update Business Group - Presentation Investor 9

presentation the on comments general see - information looking-forward is This**

USA ,Maryland / Wilson The / CARR

HETZ ALONY

share per flows cash Operating share per dividend Ordinary share per dividend Special

Cash flow from operations / in NIS million	Cash flow per share / in Agorot
-----------------------------------------------------------------	---------------------------------------------------

	Year 2022	Year 2023	Year 2024
Dividend income *	621	671	675
Management fees from investees	18	21	22
Finance expences	)128(	)175(	)189(
General and administrative	)34(	)32(	)33(
Current taxes	)18(	)19(	)21(
Total operating cash flows	459	466	454
* including dividend from CARR the in form of DRIP	98	117	118

HETZ ALONY million NIS / NAV Adjusted .vs Value Book on based) NAV (Value Asset Net of Measurement

taxes deferred Ignores *** / cash deducting after Debt ** / 2025 9, March is) rates exchange and prices market stock including (NAV adjusted of calculation for update of Date*

Leverage

	Data from financial statements of as December 2024	Investment from beginning of January 2025 until presentation s' publication date	Additional adjustments ( mainly share price of investees and ) exchange rates
	4,661	-	(70)
	2,989	-	69
	1,112	-	1,765
	1,302	-	(9)
	346	5	(2)
Other investments ( mainly Brockton (Funds	224	-	10
GAV	10,634	5	1,763
Net financial debt **	) 5,189 (	(5)	29
NAV ***	5,445	-	1,792
NAV per share ***

2024 of end for Data Key

	Key Data for end	of 2024
AMOT
Real Estate Income Producing	No of . properties 112	GLA 1.86 million .sqm 1.16 million sqm GLA	Occupancy rate 92.3%	Weighted average cap rate 6.4%	NIS in billion
Real Estate Development	No of . projects 5	GLA 194 thousand Amot share s'	Total construction budget 3.3 ILS billion .sqm Amot share s'		17.3
Financial Debt	LTV 44%	Weighted average debt duration 5.1 years	Weighted average interest rate 1.9%	Credit Rating /AA Stable Maalot 2/Aa Stable Midroog
Financial Data	NOI 1,043 2024 1,060 2025 middle forecast range	FFO ILS million 2024 2025 ILS million middle forecast range	/ based on management s' approach 823 ILS million 815 ILS million		Income producing properties

/ 2024 31, December of as Structure Sheet Balance

properties of breakdown Geographic

Central Region 75%

* properties producing-income of value by Breakdown

35% Metropolitan Aviv Tel

.properties development and estate real investment as classified land Excludes*

data AdditionalAMOT

Israel ,Aviv Tel / I ToHa / AMOT

approach management / million NIS / FFO

data financial Additional

AMOT

presentation the on comments general see - information looking-forward is This*

1,072

2024 NOI annualized

.presentation the on comments general see - information looking-forward is This) * image (Zrifin center Logistics 5 / Brak Bnei site Lechi 4 / Shemesh Beit Center Logistics 3 /) image (Jerusalem Complex K 2 /) image (Aviv Tel II ToHa 1

million NIS / NOI in increase future Potencial

2028 in completed be to expected one last the with ,construction under Projects

2025 March - Update Business Group - Presentation Investor 16

100% on based presented is data The 50%. part s'Amot II ToHaAMOT

the for Google with agreement lease of Signing (TI before core and shell (sqm thousand 60 of area beginning the at commencing period year10- a for 115 NIS of rent annual for consideration in 2027, of .million

320 million NIS full at NOI Expected occupancy

2026 4Q construction Estimated date completion

/ 2024 31, December of as Structure Sheet Balance GBP million in

2024 of end the of as Data Key EVERLAST BROCKTON

Real Estate Income Producing	No of . properties 10	GLA 1.1 million .sqf	Occupancy rate 97.3%	Weighted average cap rate 5.8%
Real Estate Development	No of . Projects 1	GLA 453 thousand .sqf	Total construction 700 GBP	budget million	691
Financial Debt	LTV 29%	Weighted average debt duration 1.8 years	Weighted average interest rate 4.7%
Financial Data	NOI 43 GBP 2024 45 2025 GBP Forecast	FFO 12 million GBP 2024 12 2025 GBP million Forecast	million million		Income producing properties

regions geographic by Breakdown use and properties of value to according

Information Additional EVERLAST BROCKTON

GBP million 55

Forecasted *NOI stabilized

2025-2026 between*

GBP million 560 GBP million 140 *invested be to Balance

presentation the on comments general see - information looking-forward is This*

GLA Future GLA Current

.sqft thousand 453 .sqft thousand 126

*period Construction

EVERLAST BROCKTON Building Dovetail The

THE BUILDING DOVETAIL

• Fenway The) London Paddington (House Waterside

GBP million 195 sqm thousand 40 GBP million 192 sqft thousand 238 2024 4Q of as Value Area Land Total 2024 4Q of as Value GLA Current

.sqft thousand 413 *GLA Future

term-long new a negotiating is BE the leasing ,S&M with agreement lease HQ its for building

.sqft thousand 183 GLA Current

.sqft thousand 775 *GLA Future

development in and producing income - investments main on Information Additional EVERLAST BROCKTON

advanced being plans zoning on based advanced being plans zoning on based

presentation the on comments general see - information looking-forward is This*

2024 of end the of as Data Key

CARR

Real Estate Income producing	No of . leased assets 12	GLA 3.3 million .sqf	Leased rate 89.4%	Weighted average cap rate 7.5%
Real Estate Development Multifamily	No of . Projects 2	No of . apartments 543	GLA 0.5 million .sqf	Total construction budget 274 USD million
Financial Debt	LTV 64%	Weighted average debt duration 1.84 years	Weighted average interest rest 4.0%
Financial Data	NOI 152 USD 2024 150 2025 USD *forecast	FFO million 2024 2025 million *forecast	62 USD million 64 USD million		Income producing properties

/ 2024 31, December of as Structure Sheet Balance USD million in

2025 March - Update Business Group - Presentation Investor 24

presentation the on comments general see - information looking-forward is This / out carried if ,deal JPM the of impact the excluding ,portfolio existing s'Carr to refers forecast The*

data financial AdditionalCARR

presentation the on comments general see - information looking-forward is This / out carried if ,deal JPM the of impact the excluding ,portfolio existing s'Carr to refers forecast The*

VA ,Alexandria VA ,Arlington

100% :ownership / Wilson 3033

GLA 241 thousand .sqf	No of . units 306	Expected construction start 2026 June	GLA 216 thousand .sqf	No of . units 237	Expected construction start 2025 February
Expected completion date 2028 February	NOI 11 USD million	Construction budget 144 USD million	Expected completion date 2027 March	NOI 10 USD million	Construction budget 130 USD million

projects residential rental of DevelopmentCARR

presentation the on comments general see - information looking-forward is slide this in data the All*

project the of partner managing the is CARR LP an as stake 10% a holds also and) 100% GP(

*CARR in holdings Morgan JP of redemption the for transaction the regarding DetailsCARR

presentation the on comments general see - information looking-forward is This*

,conditions suspending of fulfillment future the to Subject (35.5%) Carr in holdings s'JPM redeem will CARR 3 of ownership full of transfer for consideration in .unleveraged

,redemption mentioned the for preparations of part As in properties two of sale the on working is CARR .million \$100-110 for consideration

4 of refinancing the advancing is CARR ,Concurrently in maturing loans refinance to order in ,owns it properties .loans duration longer with 2026

assets Trophy following the of ownership retain will CARR including ,developed has it Wilson The • Center Midtown• York New 1700 • Congress One•

in million \$100 of equity inject to intends Company The to ,things other among תused be will which ,CARR in 2025 with ,expansion business for and purchase the complete .development new on emphasis an

2024 of end the of as Data Key

BOSTON AH

/ 2024 31, December of as Structure Sheet Balance

Real Estate Income Producing	No of . assets 2		GLA 712 thousand .sqf	Occupancy rate 86%	Weighted average cap rate 7.6%	in million USD
Development Project	GLA 178	thousand .sqf				365
Financial Debt	LTV income producing assets 57%		Weighted average debt duration income producing assets 3.3 years	Weighted average interest rate income producing assets 5.4%
Financial Data	USD million		income producing assets	project in development	total
	NOI	2024 2025 forecast	28 28	)1( )4(	27 24	Income
	FFO	2024 2025 forecast	18 16	)3( )12(	15 4	producing properties

and operational on capitalizing stopped partnership the 2024, of half second the from Starting ** / presentation the on comments general see - information looking-forward is This* expenses financing

of Board the see ,capital partner injecting and loan new a obtaining for agreement the regarding details For*

2024 for report' Directors

2025 March - Update Business Group - Presentation Investor 29

company Global

in focused operations Global with ,Poland and USA ,Israel the of area each in teams dedicated .operation

partnerships Strategic

companies leading s'world the With :entities financial and

Intergrated Vertically

commercial to development Combines of life the throughout operation engineering leading by ,project the proven with experts financial& .capabilities

2024 of end the of as Data Key

ENERGIX

.complete yet not is acquisition its as project Lithuania the for MW470 to up Excluding**

2025 March - Update Business Group - Presentation Investor 31

presentation the on comments general see - information looking-forward is This*

2025 for Outlook and 2024 of Summary

presentation the on comments general see - information looking-forward is slide this in data the All*

2025 Year *2024 Year

,revenue in Growth 32% 898 of total a reaching ILS million

forecast Revenue 800-850 between ILS million

project in Growth 30% of total a to ,EBITDA ILS million 626

EBITDA Project between forecast ILS million 630-680

partnership a of Signing with collaboration SMA and google

of Completion gird and construction capacity a in connection MWh189 + MW465 of

financing of Signing

partner tax and

2 totaling agreements

USD Billion

of Completion

transactions acquisition of volume a with MWh260 + MW770

capacity installed Total grow to expected is 50%, approximately by 0.4 +GW/ 2 reaching to expected ,Gwh 1.1 of revenues generate year-full a on ILS Billion basis

a into entry - Lithuania signing and market new the for agreement an of combined a of acquisition a with project Wind and PV MW470 of capacity

storage the on Focus a as poland in sector the in driver growth years coming

negotiations Advanced deals financing for 3 of value total a with ILS billion

USA ,Virginia / Pamplin

/Energix

Results Operating of Development

Poland ,Banie

/

USA

com.hetz-alony@info 972-3-7521115 :Telephone Gan Ramat Street Jabotinsky 2 Floor th40 ,Tower Atrium-Amot / .Ltd Investments and Properties Hetz Alony .YOU THANK