B Communication

Foreign Filer Report • Mar 31, 2019

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

F O R M 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of March 2019

B COMMUNICATIONS LTD. (Name of Registrant)

2 Dov Friedman Street, Ramat Gan 5250301, Israel (Address of Principal Executive Office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ☐ No ☒

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- __________

B COMMUNICATIONS LTD.

EXPLANATORY NOTE

The following exhibit is attached:

99.1 Bezeq Investor Presentation - March 2019.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: March 31, 2019 By: /s/ Ami Barlev

B COMMUNICATIONS LTD. (Registrant)

Ami Barlev
Chief Executive Officer

2

EXHIBIT NO. DESCRIPTION

99.1 Bezeq Investor Presentation - March 2019.

Forward-Looking Information and Statement

This presentation contains general data and information as well as forward looking statements about Bezeq The Israel Telecommunications Corp., Ltd ("Bezeq"). Such statements, along with explanations and clarifications presented by Bezeds representatives, include expressions of management's expectations about new and existing programs. opportunities, technology and market conditions. Although Bezeq believes its expectations are based on reasonable assumptions, these statements are subject to numerous risks and uncertainties. These statements should not be regarded as a representation that anticipated events will occur or that expected objectives will be achieved. In addition, the realization and/or otherwise of the forward looking information will be affected by factors that cannot be assessed in advance, and which are not within the control of Bezeg, including the risk factors that are characteristic of its operations. developments in the general environment, external factors, and the regulation that affects Bezec's operations.

This presentation includes revenue and other figures that are based on external sources and studies. Bezeq is not responsible for the content thereof. The information included in this presentation is based on information included in Bezeg's public filings. However, some of the information may be presented in a different manner and/or breakdown and/or is differently edited. In any event of inconsistency between Bezeds public filings and the information contained in this presentation - the information included in the public filings shall prevail.

The information contained in this presentation or which will be provided orally during the presentation thereof, does not constitute or form part of any invitation or offer to sell, or any invitation or offer to purchase or subscribe for, any securities of Bezeq or any other entity, nor shall the information or any part of its of its distribution form the basis of, or be relied on in connection with or relating to any action, contract, commitment or to the securities of Bezeq. The presentation does not constitute a recommendation or opinion or substitute for the discretion of any investor.

Bezeq Group Strategy

The Bezeq Group is implementing a comprehensive strategic plan that includes significant steps towards streamlining and improving business performance. The program addresses the challenges faced by the Group and the future needs that are emerging in the telecommunications market environment, taking into consideration the complex regulatory limitations imposed on the Company

• Significant decisions on all core issues of the Group for future years investment in ultra-fast Internet infrastructure, deployment of 5G, migration from satellite to IP-based TV platform
• Maintaining Bezeq as a strong and financially sound company

• Business oriented examination lines, focus, and models of the Group companies

  • Focus on streamlining, improving performance and profitability

Working on all of the above while taking a "360" view of all stakeholders and ensuring transparency and corporate governance

Bezeq Fixed-Line - Marketing of Terminal Equipment

Bezeq Fixed-Line recently entered the terminal equipment market - in the first stage through the sale of smartphones and in the future, the offering will expand to additional end-user equipment

In Israel there is a significant market for terminal equipment. The smartphone market alone is estimated at more than 3 million handsets sold each year at annual sales of NIS 6-7 billion

Harnessing the power of the Bezeq brand and marketing strength is expected to significantly increase the overall revenue potential of this sector

ezeo

* Source: GFK Market Research

Bezeq Fixed-Line - Employee Streamlining

Actions Taken

During 2018, an early retirement plan was approved for the retirement of 407 employees at a total cost of NIS 547 million:

2018

Early retirement of 70 employees - estimated annual savings of NIS 24 million

2019

Early retirement of 243 employees - estimated annual savings of NIS 80 million

2020 - 2021

Early retirement of 94 employees - estimated annual savings of NIS 42 million

Rezed

The provision for 2018 included all of the remaining employees transferred to the Company from the Ministry of Communications with higher than average salaries and retirement costs

Bezeq Fixed-Line - Employee Streamlining

Plan

The Company intends to take advantage of the total potential of the retirement plan that has not yet been approved for hundreds of additional employees under the terms of the current collective agreement (until 2021)

Concurrently with the annual savings, we expect a continued average wage creep of 3% of the salary of the remaining employees

Employee retirement costs are expected to be lower in the future as a result of the provision in 2018 for all of the transferred employees

Bezeq

Bezeq Fixed-Line - Reduction in operational real estate sites and sales of redundant assets

Actions Taken

• In January 2018, the Company sold the "Sakia" compound for NIS 497 million and received the first payment of NIS 155 million in the fourth quarter of 2018. Each additional payment until 2022 accrues interest and the last contract payment may be made until June 2023

• In December 2018, the Company signed an agreement to transfer Bezeq's headquarters from Azrieli Tel Aviv to its new offices in Holon in 2021. The move is expected to result in savings of tens of millions of shekels in operating expenses, mainly a reduction in rent and municipal taxes

Plan

Real estate sites have been reviewed and the Company is examining the sale of property in the amount of hundreds of millions of shekels in the coming year

Review of physical layout, communication connections and energy durability in currently owned buildings for utilization as Data Centers

Bezeq Fixed-Line - Deployment of Fiber Optics Bezeq is the only company in Israel that is willing and capable of deploying fiber optics nationwide at an accelerated pace Upgrade to ultra-fast broadband speeds The Company is conducting discussions with the Ministry of Communications with the aim of summarizing conditions that will allow entry into the project on an economic basis > The dialogue has narrowed the gaps between the parties on some of the issues, and the Company expects that the Ministry will publish a policy paper that stimulates investments as early as possible However, it is difficult to assess whether and when these discussions will ripen into binding understandings that will allow for the accelerated deployment of fiber and the beginning of the provision of services, among other factors, in light of the elections and the potential change in ministers erei

Maximizing Synergies in Subsidiaries -Pelephone, yes, Bezeq International

Actions Taken

Transition to integrated management team -

Streamlining decision-making processes, while saving millions of shekels per year

Reduction of hundreds of employees in 2H 2018 Savings of ~ 40% in salary expenses

Financial savings due to joint purchasing - one advertising agency for all three companies

Signing of a collective arrangement in yes for streamlining and synergies - enables retirement of 325 employees as well as the non-recruitment of additional employees over the agreement period

Current

Negotiations with Pelephone and Bezeq International labor unions for reductions in the workforce and realization of synergies

ezeu

Maximizing Synergies in Subsidiaries -Pelephone, yes, Bezeq International

Plan

Adapting the offering to the customer, similar to Israeli and worldwide trends for a comprehensive telecom solution Cross-selling - Improve marketing capability for customers who do not currently receive service from the three companies

One point of contact with the customer improve service and reduce churn

Maximizing synergies of the various distribution and service channels of the three companies -ONE STOP SHOP

Streamlining in salaries and other operating expenses. Improved processes and joint purchasing

Bezeq

Pelephone - Growth alongside Innovation

Growth in subscriber base

• Subscriber growth for 3 consecutive years
• Wide retail distribution
• · Moderating rate of decline in revenues from services over the years

9 ) FINDER

Rezed

· Advanced cellular network in Israel

Innovation Connected Cars, PTT, IoT, Big Data, Cyber, Cloud, ESIM

Pelephone - Continuing to Accelerate Speeds

Pelephone has deployed MIMO 4X4 and Beam Forming technologies nationwide which are available with only a small number of operators worldwide. The technologies enable innovative and high-quality network at high speeds

5G is expected to bring customers high broadband speeds, as well as support for a greater number of devices connected to the network

Pelephone is preparing for the entry of 5G into Israel, both in terms of the allocation of frequencies and the planning of its core network, subject to the MOC tender

Bezed

Bezeq International - Leading ISP in Israel

• 38% market share .
• Innovative infrastructures .
• Significant player in the . business market
• Advanced IP services .

Ownership of submarine cable as competitive edge

Bezeq

Growth Engine - Triple Play of STINGTV + Internet (ISP + Infrastructure)

Cancellation of Structural Separation

• The cancellation of the structural separation is anchored in a policy document published by the Minister of Communications in 2012 and is based on the recommendations of the Hayek Committee. In the Company's opinion all the conditions justify and require the cancellation of the structural separation in accordance with this policy document
• Over the years, the Company has approached the Ministry of Communications several times, and in view of the prolonged absence of a decision, in February 2019, Bezeq filed a petition with the High Court of Justice against the Ministry of Communications to immediately cancel the structural separation
• Cancellation of the structural separation will enable the Company to save on operating expenses, while significantly improving service and customer experience as well as utilization of the deferred tax asset
• Establishment of Partnerships as an interim step until the cancellation of the structural separation. The Company is examining the establishment of partnerships for each subsidiary and is in discussions with the Income Tax Authority and the Ministry of Communications

Change in Dividend Policy

On March 27, 2019, the Company's Board of Directors resolved to cancel the Company's dividend distribution policy, which was recently updated on March 6, 2018. The decision was made from a position of clarity and transparency vis-a-vis shareholders and the circumstances that emerged due to the impossibility of distributing a dividend as a result of the expected failure to meet the "profit test" in the next two years. Accordingly, the Board of Directors decided that it would not be appropriate to maintain a dividend policy when in practice it is not effective

The cancellation of the dividend policy will not prevent the Company's Board of Directors from examining from time the distribution of dividends to the Company's shareholders, taking into consideration, among other factors, the provisions of the law, the state of the Company's business and its capital structure, and the need to maintain a balance between ensuring the Company's financial strength and stability and the continued creation of value to the shareholders of the Company, all of which are subject to the approval of the general meeting of shareholders of the Company with respect to each specific distribution, as prescribed in the Company's Articles of Association

Bezeq Group - 2019 Guidance

Below is the Bezeq Group's outlook for 2019, based on the existing information known to the Bezeq Group today:

Net profit attributable to shareholders: Approximately NIS 900 million - NIS 1.0 billion EBITDA: Approximately NIS 3.9 billion CAPEX *: Approximately NIS 1.7 billion

The Company's forecasts in this section are forward-looking information, as defined in the Securities Law. The forecasts are based on the Company's estimates, assumptions and do not include the effects of the provision for early retirement of employees and the signing of collective labor agreements in the Group, including the collective labor agreement with DBS (see immediate report dated March 14, 2019), and do not include the effects, if any, of the cancellation of the Group's structural separation and the merger with the subsidiary companies and everything involved therein in 2019. The Group's forecasts are based, inter alia, on its estimates regarding the structure of competition in the telecommunications market and regulation in this sector, the economic situation and accordingly, the Group's ability to implement its plans in 2019. Actual results may differ from these estimates taking note of changes which may occur in the foregoing, in business conditions, and the effects of regulatory decisions, technology changes, developments in the structure of the telecommunications market, and so forth, or the realization of one or more of the risk factors listed in the Periodic Report of 2018.

The Company shall report, as required, deviations of more/less than 10% of the range and amounts stated in the forecast

Rezed

*CAPEX - payments for investments in fixed and intangible assets

Increase in Registered Share Capital

• The Board of Directors approved the convening of a general meeting of shareholders for which the agenda will include the approval of the increase of the Company's registered share capital by one billion shares of NIS 1 par value each, as a preliminary step towards a potential raising of NIS 1-2 billion through a rights offering, subject to the necessary decisions and approvals
• In so far as it is implemented, the rights issuance is expected to enable a faster reduction in debt, an improvement in coverage ratios, maintenance of a high credit rating, and financial flexibility for investment and operational activities, etc
• As of this date, the publication of a prospectus and the execution of funding has not yet been approved, and there is no certainty that capital will be raised and at what timing, structure or terms

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

F O R M 6-K

REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of March 2019

B COMMUNICATIONS LTD. (Name of Registrant)

2 Dov Friedman Street, Ramat Gan 5250301, Israel (Address of Principal Executive Office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☒ Form 40-F ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes ☐ No ☒

If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- __________

B COMMUNICATIONS LTD.

EXPLANATORY NOTE

The following exhibit is attached:

99.1 Bezeq Investor Presentation - March 2019.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Date: March 31, 2019 By: /s/ Ami Barlev

B COMMUNICATIONS LTD. (Registrant)

Ami Barlev
Chief Executive Officer

2

EXHIBIT NO. DESCRIPTION

99.1 Bezeq Investor Presentation - March 2019.

Forward-Looking Information and Statement

This presentation contains general data and information as well as forward looking statements about Bezeq The Israel Telecommunications Corp., Ltd ("Bezeq"). Such statements, along with explanations and clarifications presented by Bezeds representatives, include expressions of management's expectations about new and existing programs. opportunities, technology and market conditions. Although Bezeq believes its expectations are based on reasonable assumptions, these statements are subject to numerous risks and uncertainties. These statements should not be regarded as a representation that anticipated events will occur or that expected objectives will be achieved. In addition, the realization and/or otherwise of the forward looking information will be affected by factors that cannot be assessed in advance, and which are not within the control of Bezeg, including the risk factors that are characteristic of its operations. developments in the general environment, external factors, and the regulation that affects Bezec's operations.

This presentation includes revenue and other figures that are based on external sources and studies. Bezeq is not responsible for the content thereof. The information included in this presentation is based on information included in Bezeg's public filings. However, some of the information may be presented in a different manner and/or breakdown and/or is differently edited. In any event of inconsistency between Bezeds public filings and the information contained in this presentation - the information included in the public filings shall prevail.

The information contained in this presentation or which will be provided orally during the presentation thereof, does not constitute or form part of any invitation or offer to sell, or any invitation or offer to purchase or subscribe for, any securities of Bezeq or any other entity, nor shall the information or any part of its of its distribution form the basis of, or be relied on in connection with or relating to any action, contract, commitment or to the securities of Bezeq. The presentation does not constitute a recommendation or opinion or substitute for the discretion of any investor.

Bezeq Group Strategy

The Bezeq Group is implementing a comprehensive strategic plan that includes significant steps towards streamlining and improving business performance. The program addresses the challenges faced by the Group and the future needs that are emerging in the telecommunications market environment, taking into consideration the complex regulatory limitations imposed on the Company

• Significant decisions on all core issues of the Group for future years investment in ultra-fast Internet infrastructure, deployment of 5G, migration from satellite to IP-based TV platform
• Maintaining Bezeq as a strong and financially sound company

• Business oriented examination lines, focus, and models of the Group companies

  • Focus on streamlining, improving performance and profitability

Working on all of the above while taking a "360" view of all stakeholders and ensuring transparency and corporate governance

Bezeq Fixed-Line - Marketing of Terminal Equipment

Bezeq Fixed-Line recently entered the terminal equipment market - in the first stage through the sale of smartphones and in the future, the offering will expand to additional end-user equipment

In Israel there is a significant market for terminal equipment. The smartphone market alone is estimated at more than 3 million handsets sold each year at annual sales of NIS 6-7 billion

Harnessing the power of the Bezeq brand and marketing strength is expected to significantly increase the overall revenue potential of this sector

ezeo

* Source: GFK Market Research

Bezeq Fixed-Line - Employee Streamlining

Actions Taken

During 2018, an early retirement plan was approved for the retirement of 407 employees at a total cost of NIS 547 million:

2018

Early retirement of 70 employees - estimated annual savings of NIS 24 million

2019

Early retirement of 243 employees - estimated annual savings of NIS 80 million

2020 - 2021

Early retirement of 94 employees - estimated annual savings of NIS 42 million

Rezed

The provision for 2018 included all of the remaining employees transferred to the Company from the Ministry of Communications with higher than average salaries and retirement costs

Bezeq Fixed-Line - Employee Streamlining

Plan

The Company intends to take advantage of the total potential of the retirement plan that has not yet been approved for hundreds of additional employees under the terms of the current collective agreement (until 2021)

Concurrently with the annual savings, we expect a continued average wage creep of 3% of the salary of the remaining employees

Employee retirement costs are expected to be lower in the future as a result of the provision in 2018 for all of the transferred employees

Bezeq

Bezeq Fixed-Line - Reduction in operational real estate sites and sales of redundant assets

Actions Taken

• In January 2018, the Company sold the "Sakia" compound for NIS 497 million and received the first payment of NIS 155 million in the fourth quarter of 2018. Each additional payment until 2022 accrues interest and the last contract payment may be made until June 2023

• In December 2018, the Company signed an agreement to transfer Bezeq's headquarters from Azrieli Tel Aviv to its new offices in Holon in 2021. The move is expected to result in savings of tens of millions of shekels in operating expenses, mainly a reduction in rent and municipal taxes

Plan

Real estate sites have been reviewed and the Company is examining the sale of property in the amount of hundreds of millions of shekels in the coming year

Review of physical layout, communication connections and energy durability in currently owned buildings for utilization as Data Centers

Bezeq Fixed-Line - Deployment of Fiber Optics Bezeq is the only company in Israel that is willing and capable of deploying fiber optics nationwide at an accelerated pace Upgrade to ultra-fast broadband speeds The Company is conducting discussions with the Ministry of Communications with the aim of summarizing conditions that will allow entry into the project on an economic basis > The dialogue has narrowed the gaps between the parties on some of the issues, and the Company expects that the Ministry will publish a policy paper that stimulates investments as early as possible However, it is difficult to assess whether and when these discussions will ripen into binding understandings that will allow for the accelerated deployment of fiber and the beginning of the provision of services, among other factors, in light of the elections and the potential change in ministers erei

Maximizing Synergies in Subsidiaries -Pelephone, yes, Bezeq International

Actions Taken

Transition to integrated management team -

Streamlining decision-making processes, while saving millions of shekels per year

Reduction of hundreds of employees in 2H 2018 Savings of ~ 40% in salary expenses

Financial savings due to joint purchasing - one advertising agency for all three companies

Signing of a collective arrangement in yes for streamlining and synergies - enables retirement of 325 employees as well as the non-recruitment of additional employees over the agreement period

Current

Negotiations with Pelephone and Bezeq International labor unions for reductions in the workforce and realization of synergies

ezeu

Maximizing Synergies in Subsidiaries -Pelephone, yes, Bezeq International

Plan

Adapting the offering to the customer, similar to Israeli and worldwide trends for a comprehensive telecom solution Cross-selling - Improve marketing capability for customers who do not currently receive service from the three companies

One point of contact with the customer improve service and reduce churn

Maximizing synergies of the various distribution and service channels of the three companies -ONE STOP SHOP

Streamlining in salaries and other operating expenses. Improved processes and joint purchasing

Bezeq

Pelephone - Growth alongside Innovation

Growth in subscriber base

• Subscriber growth for 3 consecutive years
• Wide retail distribution
• · Moderating rate of decline in revenues from services over the years

9 ) FINDER

Rezed

· Advanced cellular network in Israel

Innovation Connected Cars, PTT, IoT, Big Data, Cyber, Cloud, ESIM

Pelephone - Continuing to Accelerate Speeds

Pelephone has deployed MIMO 4X4 and Beam Forming technologies nationwide which are available with only a small number of operators worldwide. The technologies enable innovative and high-quality network at high speeds

5G is expected to bring customers high broadband speeds, as well as support for a greater number of devices connected to the network

Pelephone is preparing for the entry of 5G into Israel, both in terms of the allocation of frequencies and the planning of its core network, subject to the MOC tender

Bezed

Bezeq International - Leading ISP in Israel

• 38% market share .
• Innovative infrastructures .
• Significant player in the . business market
• Advanced IP services .

Ownership of submarine cable as competitive edge

Bezeq

Growth Engine - Triple Play of STINGTV + Internet (ISP + Infrastructure)

Cancellation of Structural Separation

• The cancellation of the structural separation is anchored in a policy document published by the Minister of Communications in 2012 and is based on the recommendations of the Hayek Committee. In the Company's opinion all the conditions justify and require the cancellation of the structural separation in accordance with this policy document
• Over the years, the Company has approached the Ministry of Communications several times, and in view of the prolonged absence of a decision, in February 2019, Bezeq filed a petition with the High Court of Justice against the Ministry of Communications to immediately cancel the structural separation
• Cancellation of the structural separation will enable the Company to save on operating expenses, while significantly improving service and customer experience as well as utilization of the deferred tax asset
• Establishment of Partnerships as an interim step until the cancellation of the structural separation. The Company is examining the establishment of partnerships for each subsidiary and is in discussions with the Income Tax Authority and the Ministry of Communications

Change in Dividend Policy

On March 27, 2019, the Company's Board of Directors resolved to cancel the Company's dividend distribution policy, which was recently updated on March 6, 2018. The decision was made from a position of clarity and transparency vis-a-vis shareholders and the circumstances that emerged due to the impossibility of distributing a dividend as a result of the expected failure to meet the "profit test" in the next two years. Accordingly, the Board of Directors decided that it would not be appropriate to maintain a dividend policy when in practice it is not effective

The cancellation of the dividend policy will not prevent the Company's Board of Directors from examining from time the distribution of dividends to the Company's shareholders, taking into consideration, among other factors, the provisions of the law, the state of the Company's business and its capital structure, and the need to maintain a balance between ensuring the Company's financial strength and stability and the continued creation of value to the shareholders of the Company, all of which are subject to the approval of the general meeting of shareholders of the Company with respect to each specific distribution, as prescribed in the Company's Articles of Association

Bezeq Group - 2019 Guidance

Below is the Bezeq Group's outlook for 2019, based on the existing information known to the Bezeq Group today:

Net profit attributable to shareholders: Approximately NIS 900 million - NIS 1.0 billion EBITDA: Approximately NIS 3.9 billion CAPEX *: Approximately NIS 1.7 billion

The Company's forecasts in this section are forward-looking information, as defined in the Securities Law. The forecasts are based on the Company's estimates, assumptions and do not include the effects of the provision for early retirement of employees and the signing of collective labor agreements in the Group, including the collective labor agreement with DBS (see immediate report dated March 14, 2019), and do not include the effects, if any, of the cancellation of the Group's structural separation and the merger with the subsidiary companies and everything involved therein in 2019. The Group's forecasts are based, inter alia, on its estimates regarding the structure of competition in the telecommunications market and regulation in this sector, the economic situation and accordingly, the Group's ability to implement its plans in 2019. Actual results may differ from these estimates taking note of changes which may occur in the foregoing, in business conditions, and the effects of regulatory decisions, technology changes, developments in the structure of the telecommunications market, and so forth, or the realization of one or more of the risk factors listed in the Periodic Report of 2018.

The Company shall report, as required, deviations of more/less than 10% of the range and amounts stated in the forecast

Rezed

*CAPEX - payments for investments in fixed and intangible assets

Increase in Registered Share Capital

• The Board of Directors approved the convening of a general meeting of shareholders for which the agenda will include the approval of the increase of the Company's registered share capital by one billion shares of NIS 1 par value each, as a preliminary step towards a potential raising of NIS 1-2 billion through a rights offering, subject to the necessary decisions and approvals
• In so far as it is implemented, the rights issuance is expected to enable a faster reduction in debt, an improvement in coverage ratios, maintenance of a high credit rating, and financial flexibility for investment and operational activities, etc
• As of this date, the publication of a prospectus and the execution of funding has not yet been approved, and there is no certainty that capital will be raised and at what timing, structure or terms