Bazan Oil Refineries Ltd. — Capital/Financing Update 2026

Jun 1, 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.

Bazan Oil Refineries Ltd.

OIL REFINERIES LTD

Registrar number: 520036658

To: Israel Securities Authority

www.isa.gov.il

To: Tel Aviv Stock Exchange Ltd.

www.tase.co.il

T020 (Public)

Transmitted by MAGNA: 01/06/2026

Reference:

2026-01-052112

Offeror's notice of the results of the offer in the prospectus

Pursuant to Section 30 of the Securities Law, 5728-1968 and the Securities Regulations (Notices of the Results of the Offer in the Prospectus), 5730-1969

☐ Results of an early commitments tender given in the prospectus (without the securities in the prospectus having been offered).
☐ Results of an offer in a prospectus.
☐ Cancellation of the public offer.

Note: A report on the results of an offer in a prospectus must also include the early commitments given prior to the publication of the prospectus.

The prospectus is a Shelf prospectus of a reporting corporation

1. Set forth below are the results of the offer in the prospectus, the reference number for the publication of which is (T012) 2024-01-615123

Authorization for its publication was granted on 11/11/2024 and the period for submitting orders thereunder ended on (in the case of an ATM program, the date on which the program ended) __.

Was the offer carried out by means of a shelf offering report or a supplemental notice? Yes

Reference number of the shelf offering report (T022) / supplemental notice (T024) 2026-01-051667

Attached are the results of the offer in the prospectus: Immediate report results of public offering isa.pdf

Prospectus number: 48825 Note: To be entered for the Authority's internal use.

2.a. Total securities offered in the prospectus:

Type of security	Security number on the stock exchange	Security name	Total quantity of securities	Price*	Interest rate	Discount rate	Weighted discount rate
Debentures	1242585	Bazan BONDS series YZ	400,000,000	0.987New Shekel	4.5

*Price per 1 security

b. Completion of details for exchange-traded notes offered in the prospectus:

Cancelled*	Security number on the stock exchange	Series serial number	Name	Type of security on the stock exchange	Trustee name	Date of listing for trading
			Security name:
			Full stock exchange name:
			Short stock exchange name:

Note: The maximum number of records that can be filled in the table is 35. If it is necessary to report a larger number of records, the report must be split.

Explanation: If the series was cancelled, the "Cancelled" field must be marked.

Explanation: In the "Series serial number" field up to 3 letters or digits describing the serial number of the series must be entered, without additional markings such as quotation marks.

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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. Total securities by type, and by type of subscribers whose offer was accepted:

Securities for which consideration is received in cash:

Type of issuance	Type, number and name of security on the stock exchange	Tender number	Type of subscriber	Total quantity of securities issued	Price*	Future exercise price*	Total amount of aggregate calculated consideration	Par value of total securities
Public offer (cash consideration)	Debentures	1211978	Public	400,000,000	0.987 New Shekel	——	394,800,000 New Shekel	400,000,000 New Shekel
	1242585
	Bazan BONDS series YZ

*Price per 1 security

In the case of a listing for trading (including listing for trading in the framework of an IPO) / release from lock-up / exchange tender offer / merger / stock dividend distribution:

Type of issuance	Type, number and name of security on the stock exchange	Total quantity of securities	Average closing price* / value of the security on the trading day preceding the exchange date	Future exercise price	Total amount of aggregate calculated consideration	Par value of total securities	Date of execution of the action**	The securities offered:
			Not yet determined				Not yet determined

Notes:

*Average closing price of the security of the same type during the first three trading days after listing for trading.

**In the case of a listing for trading / release from lock-up / stock dividend distribution, the date is the date of listing of the securities for trading on the stock exchange; in the case of an exchange tender offer, the date is the actual exchange date.

***For an exchange tender offer, the securities exchanged (received) must be reported. If the securities exchanged are not traded, the securities offered must be reported.

Please note: The total amount of aggregate calculated consideration will be in accordance with the Securities Regulations (Application Fee for Authorization to Publish a Prospectus), 5755-1995. For your convenience, a link to the calculation table: Click here

Insofar as this is an exchange tender offer:

Cash consideration received* in __:

Cash consideration paid** in __:

*The cash consideration that the offeror received for the securities offered

**The cash consideration paid by the offeror as part of the tender offer

1. Details of underwriters and distributors in the issuance:

The issuance included participation of: □ Underwriters □ Distributors □ None of these

	Name	Role
1	Other
	Name	□ Pricing underwriter
	I.B.I – Underwriting and Issuing Ltd.	□ Underwriter
	Reg. No. 512868860	□ Distributor
2	Other	□ Pricing underwriter
	Name	□ Underwriter

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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.

	Name Harel Phoenix Underwriting Ltd. Reg. No. 516655271	Role ☐ Distributor
3	Other
	Name Menora Mivtachim Underwriting and Management Ltd. Reg. No. 513729095	☐ Pricing underwriter ☐ Underwriter ☐ Distributor
4	Other
	Name Apex Issuances Ltd. Reg. No. 514941525	☐ Pricing underwriter ☐ Underwriter ☐ Distributor
5	Other
	Name Unicorn Capital Ltd. Reg. No. 516221462	☐ Pricing underwriter ☐ Underwriter ☐ Distributor

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

	Name of signatory	Position
1	Eli Morduch	Company Secretary

Explanation: Pursuant to Regulation 5 of the Periodic and Immediate Reports Regulations (5730-1970), a report submitted under these Regulations shall be signed by those authorized to sign on behalf of the corporation. The staff's position on this matter can be found on the Authority's website: Click here.

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

The corporation's securities are listed for trading on the Tel Aviv Stock Exchange Form structure update date: 09/12/2025

Short name: Bazan

Address: P.O.B.4, Haifa3100001 Telephone: 04-8788135, 04-8788115Fax: 073-2928115

E-mail: info@bazan.co.il Company website:https://www.bazan.co.il/

Previous names of reporting entity:

Name of electronic reporter: Morduch EliyahuPosition: Company SecretaryEmployer company name:

Address: P.O.B.4, Haifa31000Telephone: 04-8788135Fax: 04-8788741E-mail: emordoch@bazan.co.il