Azorim Investment Development & Construction Co Ltd. — Share Issue/Capital Change 2026

Feb 25, 2026

{0}------------------------------------------------

AZORIM INVESTMENT, DEVELOPMENT AND CONSTRUCTION COMPANY LTD.
AZORIM-INVESTMENT, DEVELOPMENT & CONSTRUCTION CO. LTD
Number in the Register: 520025990

To: Israel Securities Authority To: Tel Aviv Stock Exchange Ltd. T087 ( Public ) Filed via MAGNA: 25/02/2026 www.isa.gov.il www.tase.co.il Reference: 2026-01-017688

Supplementary report to a report submitted on 25/02/2026whose reference number is: 2026-01-017596

Principal details that were added / completed: Indication that the consideration was received in full.

Capital status, grant of rights to purchase shares and the corporation's securities registers and the changes therein Regulation 31E of the Securities Regulations (Periodic and Immediate Reports), 1970 Regulation 31(a) of the Securities Regulations (Periodic and Immediate Reports), 1970 Regulation 31(b1) of the Securities Regulations (Periodic and Immediate Reports), 1970 Regulation 32 of the Securities Regulations (Periodic and Immediate Reports), 1970

Nature of the change: Private placement of shares and warrants not listed for trading Explanation: briey describe the nature of the change

Reference numbers of previous reports on the subject:,,

1. The corporation's securities position after the change:

			Issued and paid-up capital	Quantity registered in the
Name and type of security	Security No. on the stock exchange	Quantity in the registered capital	Quantity in last Current report quantity	name of the registration company
Ordinary shares	715011	300000000	211,139,953 219,797,963	219,796,511
BONDS (Series 13)	7150410	0	138,742,816 138,742,816	138,742,816
BONDS (Series 14)	7150444	0	538,162,800 538,162,800	538,162,800
BONDS (Series 15)	7150451	0	153,630,400 153,630,400	153,630,400
BONDS (Series 16)	1223486	0	259,906,000 259,906,000	259,906,000
Commercial papers Series 1	1207810	0	100,000,000 100,000,000	100,000,000
Restricted stock units (RSU)	1223619	0	123,762 123,762	0
Options to others 000000		0	0 4,329,005	0

Explanation: specify all the company's securities, including securities not listed for trading.

2. The corporation announces that:
On the date 25/02/2026
From date	to date

There was a change in the quantity and in the register of holders of the corporation's securities (including rights to purchase shares) as a result of:

Description of the nature of the change

1

Private placement of shares and warrants not listed for trading in accordance with the private placement report published by the company on 20 February 2026 (reference number: 2026-01-016437)

Explanation: describe all the details of the transaction or action due to which there was a change in the corporation's securities.

Name of the registered holder for whom the change occurred: Mizrahi Tefahot Registration Company Ltd.

Type of identication number: Number in the Israeli Companies RegisterIdentication number: 510422249

{1}------------------------------------------------

	Nature of the change: Private placement Date of the change: 25/02/2026Executed via the stock exchange clearing house: Yes
	Type and name of security in which the change occurred: Ordinary shares Security No. on the stock exchange: 715011
	Holder's balance in the security in the last report: 211,138,501
	Holder's balance in this security after the change: 219,796,511
	Total quantity of securities in which there was a decrease/increase: 8,658,010
	Is this a grant of rights to purchase shares No
	Total consideration for securities allocated: Stock exchange number of the share arising from exercise of the security:
	Number of shares that will result from full exercise/conversion of the security:
	Total exercise premium to be received from full exercise/conversion of the security into shares:
	Period in which the security may be exercised: Fromuntil
	The securities allocated will be listed for trading:
	The said allocation of securities is further topublished onand whose reference number is The security has been fully paid up and the consideration was received in full. The security has been fully paid up, but the consideration was not received in full. Issued for an ATM program Other.
	Name of the registered holder for whom the change occurred: Mor Gemel and Pension Ltd.
2
	Type of identication number: Number in the Israeli Companies RegisterIdentication number: 514956465
	Nature of the change: Private placement
	Date of the change: 25/02/2026Executed via the stock exchange clearing house: No
	Type and name of security in which the change occurred: Options to others Security No. on the stock exchange: 000000
	Holder's balance in the security in the last report: 0
	Holder's balance in this security after the change: 2,164,500
	Total quantity of securities in which there was a decrease/increase: 2,164,500
	Is this a grant of rights to purchase shares Yes
	Total consideration for The warrants were allocated without consideration as stated in the immediate report securities allocated: dated 20 February 2026 (reference number: 2026-01-016437)
	Stock exchange number of the share arising from exercise of the security: 715011
	Number of shares that will result from full exercise/conversion of the security: 2,164,500 Total exercise premium to be received from full exercise/conversion of the security into shares:

{2}------------------------------------------------

	3,000 agorot for each option
	Period in which the security may be exercised: From the date of their allocation and for a period of two years
From 25/02/2026until 24/02/2028
The allocated securities will be listed for trading: No
reference number is 2026-01-016437	The said allocation of securities is further to Private placement offer reportpublished on 20/02/2026and whose
	The security has been fully paid up and the consideration was received in full.
	The security has been fully paid up, but the consideration was not received in full.
Issued for an ATM program
Other.
	The warrants were allocated without consideration
3	Name of the registered holder for whom the change occurred: Yelin Lapidot Portfolio Management Ltd. (for Best Invest)
	Type of identication number: Number in the Israeli Companies RegisterIdentication number: 513524462
Nature of the change: Private placement
	Date of the change: 25/02/2026Executed via the stock exchange clearing house: No
	Type and name of security in which the change occurred: Options to others
Security No. on the stock exchange: 000000
Holder's balance in the security in the last report: 0
	Holder's balance in this security after the change: 60,606
	Total quantity of securities in which there was a decrease/increase: 60,606
Is this a grant of rights to purchase shares Yes
Total consideration for securities allocated:	The warrants were allocated without consideration as stated in the immediate report dated 20 February 2026 (reference number: 2026-01-016437)
	Stock exchange number of the share arising from exercise of the security: 715011
	Number of shares that will result from full exercise/conversion of the security: 60,606
	Total exercise premium to be received from full exercise/conversion of the security into shares:
3,000 agorot for each option
	Period in which the security may be exercised: From the date of their allocation and for a period of two years
From 25/02/2026until 24/02/2028
The allocated securities will be listed for trading: No
reference number is 2026-01-016437	The said allocation of securities is further to Private placement offer reportpublished on 20/02/2026and whose
	The security has been fully paid up and the consideration was received in full.
	The security has been fully paid up, but the consideration was not received in full.
Issued for an ATM program
Other.
	The warrants were allocated without consideration
	Name of the registered holder for whom the change occurred: Yelin Lapidot Provident Fund Management Ltd.
4	Type of identication number: Number in the Israeli Companies RegisterIdentication number: 513611509

{3}------------------------------------------------

Nature of the change: Private placement
	Date of the change: 25/02/2026Executed via the stock exchange clearing house: No
	Type and name of security in which the change occurred: Options to others
Security No. on the stock exchange: 000000
Holder's balance in the security in the last report: 0
	Holder's balance in this security after the change: 551,949
	Total quantity of securities in which there was a decrease/increase: 551,949
Is this a grant of rights to purchase shares Yes
Total consideration for	The warrants were allocated without consideration as stated in the immediate report
securities allocated:	dated 20 February 2026 (reference number: 2026-01-016437) Stock exchange number of the share arising from exercise of the security: 715011
	Number of shares that will result from full exercise/conversion of the security: 551,949
	Total exercise premium to be received from full exercise/conversion of the security into shares:
3,000 agorot for each option
	Period in which the security may be exercised: From the date of their allocation and for a period of two years
From 25/02/2026until 24/02/2028
The allocated securities will be listed for trading: No
reference number is 2026-01-016437	The said allocation of securities is further to Private placement offer reportpublished on 20/02/2026and whose
	The security has been fully paid up and the consideration was received in full.
	The security has been fully paid up, but the consideration was not received in full.
Issued for an ATM program
Other.	The warrants were allocated without consideration
Israel Electric Corporation Ltd. 5	Name of the registered holder for whom the change occurred: Mahog – Provident Fund Manager for Employees of the
	Type of identication number: Number in the Israeli Companies RegisterIdentication number: 512362914
Nature of the change: Private placement
	Date of the change: 25/02/2026Executed via the stock exchange clearing house: No
	Type and name of security in which the change occurred: Options to others
Security No. on the stock exchange: 000000
Holder's balance in the security in the last report: 0
Holder's balance in this security after the change: 36,797
	Total quantity of securities in which there was a decrease/increase: 36,797
Is this a grant of rights to purchase shares Yes
Total consideration for securities allocated:	The warrants were allocated without consideration as stated in the immediate report dated 20 February 2026 (reference number: 2026-01-016437)

{4}------------------------------------------------

Number of shares that will result from full exercise/conversion of the security: 36,797
Total exercise premium to be received from full exercise/conversion of the security into shares: 3,000 agorot for each option
Period in which the security may be exercised: From the date of their allocation and for a period of two years From 25/02/2026until 24/02/2028
The allocated securities will be listed for trading: No
The said allocation of securities is further to Private placement offer reportpublished on 20/02/2026and whose reference number is 2026-01-016437
The security has been fully paid up and the consideration was received in full.
The security has been fully paid up, but the consideration was not received in full.
Issued for an ATM program Other.
The warrants were allocated without consideration
Name of the registered holder for whom the change occurred: Haphoenix Finance Ltd. – Participating 6
Type of identication number: Number in the Israeli Companies RegisterIdentication number: 520017450
Nature of the change: Private placement
Date of the change: 25/02/2026Executed via the stock exchange clearing house: No
Type and name of security in which the change occurred: Options to others
Security No. on the stock exchange: 000000
Holder's balance in the security in the last report: 0
Holder's balance in this security after the change: 974,026
Total quantity of securities in which there was a decrease/increase: 974,026
Is this a grant of rights to purchase shares Yes
Total consideration for The warrants were allocated without consideration as stated in the immediate report securities allocated: dated 20 February 2026 (reference number: 2026-01-016437)
Stock exchange number of the share arising from exercise of the security: 715011
Number of shares that will result from full exercise/conversion of the security: 974,026
Total exercise premium to be received from full exercise/conversion of the security into shares: 3,000 agorot for each option
Period in which the security may be exercised: From the date of their allocation and for a period of two years
From 25/02/2026until 24/02/2028
The allocated securities will be listed for trading: No
The said allocation of securities is further to Private placement offer reportpublished on 20/02/2026and whose reference number is 2026-01-016437
The security has been fully paid up and the consideration was received in full.
The security has been fully paid up, but the consideration was not received in full. Issued for an ATM program
Other. The warrants were allocated without consideration

7 Name of the registered holder for whom the change occurred: Haphoenix Finance Ltd. – Nostro

{5}------------------------------------------------

Type of identication number: Number in the Israeli Companies RegisterIdentication number: 520017450
Nature of the change: Private placement Date of the change: 25/02/2026Executed via the stock exchange clearing house: No
Type and name of security in which the change occurred: Options to others Security No. on the stock exchange: 000000
Holder's balance in the security in the last report: 0
Holder's balance in this security after the change: 108,226
Total quantity of securities in which there was a decrease/increase: 108,226
Is this a grant of rights to purchase shares Yes
Total consideration for The warrants were allocated without consideration as stated in the immediate report securities allocated: dated 20 February 2026 (reference number: 2026-01-016437) Stock exchange number of the share arising from exercise of the security: 715011
Number of shares that will result from full exercise/conversion of the security: 108,226
Total exercise premium to be received from full exercise/conversion of the security into shares: 3,000 agorot for each option Period in which the security may be exercised: From the date of their allocation and for a period of two years From 25/02/2026until 24/02/2028 The allocated securities will be listed for trading: No
The said allocation of securities is further to Private placement offer reportpublished on 20/02/2026and whose reference number is 2026-01-016437 The security has been fully paid up and the consideration was received in full. The security has been fully paid up, but the consideration was not received in full. Issued for an ATM program Other. The warrants were allocated without consideration
Name of the registered holder for whom the change occurred: Migdal Insurance and Financial Holdings Ltd. – Participating 8
Type of identication number: Number in the Israeli Companies RegisterIdentication number: 520029984
Nature of the change: Private placement Date of the change: 25/02/2026Executed via the stock exchange clearing house: No
Type and name of security in which the change occurred: Options to others Security No. on the stock exchange: 000000
Holder's balance in the security in the last report: 0
Holder's balance in this security after the change: 432,901
Total quantity of securities in which there was a decrease/increase: 432,901
Is this a grant of rights to purchase shares Yes

{6}------------------------------------------------

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.

Stock exchange number of the share arising from exercise of the security: 715011 Number of shares that will result from full exercise/conversion of the security: 432,901 Total exercise premium to be received from full exercise/conversion of the security into shares: 3,000 agorot for each option Period in which the security may be exercised: From the date of their allocation and for a period of two years From 25/02/2026until 24/02/2028 The allocated securities will be listed for trading: No The said allocation of securities is further to Private placement offer reportpublished on 20/02/2026and whose reference number is 2026-01-016437 The security has been fully paid up and the consideration was received in full. The security has been fully paid up, but the consideration was not received in full. Issued for an ATM program Other. The warrants were allocated without consideration Explanations: 1. If the change affects more than one security, specify the impact of the change in a separate line for each security. 2. Date of the change – all changes of the same type, in the same security, carried out on one day, shall be summarized in one line. For this purpose – differentiate between changes carried out via the stock exchange clearing house and changes carried out directly in the company's books. 3. The change – for a decrease, add the sign "-". 4. In all quantity elds ll in the quantity of securities and not NIS par value. There was a change only in the corporation's securities holders register (without a change in the quantity of the corporation's securities) as a result of: Description of the nature of the change Explanation: describe all the details of the transaction or action due to which there was a change in the register 1 Name of the registered holder for whom the change occurred: Type of identication number: Identication number: Date of the change: Executed via the stock exchange clearing house: Type and name of security in which the change occurred: Security No. on the stock exchange: Quantity of the change: Holder's balance in this security after the change:	Total consideration for securities allocated:	The warrants were allocated without consideration as stated in the immediate report dated 20 February 2026 (reference number: 2026-01-016437)

1. The principal items of the shareholders register as of the report date are as follows:

	Name of the No. registered shareholder	Type of identication number	Identication number	Security number on the stock exchange	Type of shares and their par value	Number of shares	Is the holder holding the shares as trustee
1

{7}------------------------------------------------

1. Attached hereto is an updated le of the corporation's securities registers, including the warrants holders register and the BONDS holders register _Azorim_Securities_Register_isa.pdf

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

Name of signatory Position
1 Levi Strassler	Chief Financial Ofcer

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

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

The corporation's securities are listed for trading on the Tel Aviv Stock Exchange

Form structure update date: 06/08/2024

Short name: Azorim

Address: Aranya32 , Tel Aviv6107034 Telephone: 03-7613401 , 03-5632770Fax: 03-

7613405

E-mail: LILACH@AZORIM.CO.IL

Previous names of the reporting entity:

Name of electronic reporter: Zonenschein Hershkowitz Amit Position: Legal Counsel and Company SecretaryName of employing company:

Address: Aranya 32 , Tel Aviv 6107034Telephone: 03-5632632Fax: 03-7613405E-mail: amit@azorim.co.il