Bazan Oil Refineries Ltd. — Director's Dealing 2026

May 21, 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.

Oil Refineries Ltd.

OIL REFINERIES LTD

Number in the register: 520036658

To: Israel Securities Authority
www.isa.gov.il

To: Tel-Aviv Stock Exchange Ltd.
www.tase.co.il

T076 (Public)

Filed via MAGNA: 21/05/2026

Reference: 2026-01-047202

Immediate report on changes in holdings of interested parties and senior officers

Regulation 33(b) of the Securities Regulations (Periodic and Immediate Reports), 1970

Note: This form is intended for reporting a change in holdings of securities of the reporting corporation only. For reporting a change in holdings of securities of a subsidiary of the reporting corporation, if its activity is material to the activity of the reporting corporation, Form T121 must be used.

1. Name of corporation / Surname and first name of the holder: Rafael Arad

Name of corporation / Surname and first name of the holder in English as registered with the Registrar of Companies or in the passport:

Rafael Arad

Type of identification number: Identity card number

Identification number of the holder: 059259408

Type of holder: Director / CEO

The hedge fund has the right to appoint a director or a representative on its behalf to the company's board of directors

Does the holder serve as a representative for the purpose of reporting several shareholders who hold together with him securities of the corporation: No

Name of controlling shareholder in the interested party -

Identification number of the controlling shareholder in the interested party -

Citizenship / Country of incorporation or registration: Individual with Israeli citizenship

Country of citizenship / incorporation or registration:

CASE security number: 1207570

Name and type of security: Warrants for directors 4/24

Nature of the change: Decrease in convertible securities due to their conversion into shares or their redemption

Note: Purchase or sale of shares on the stock exchange by way of a matched transaction, as defined in Part Three of the TASE Regulations, will be classified as an off-exchange transaction, while providing disclosure in the free-text field that the transaction was conducted in this manner.

Is this a change in a single transaction or several transactions (cumulative change): Single transaction

Date of change: 20/05/2026

Transaction price: 0 Currency agorot

Whether they are dormant shares or securities convertible into dormant shares: No

Balance (in quantity of securities) in last report: 1,000,000 Holding percentage of all securities of the same type in last report: % 25

Change in quantity of securities: 666,667-

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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.

Current balance (in quantity of securities): 333,333 Current holding percentage of all securities of the same type: % 12.5Holding percentage after the change: In capital: % 0 In voting power: % 0Explanation: Holding percentage after the change does not relate to convertible securities.Holding percentage after the change on a fully diluted basis: In capital: % 0.01 In voting power: % 0.01Note number

2 Name of corporation / Surname and first name of the holder: Rafael AradName of corporation / Surname and first name of the holder in English as registered with the Registrar of Companies or in the passport: Rafael AradType of identification number: Identity card numberIdentification number of the holder: 059259408Type of holder: Director / CEOThe hedge fund has the right to appoint a director or a representative on its behalf to the company's board of directors___Does the holder serve as a representative for the purpose of reporting several shareholders who hold together with him securities of the corporation: NoName of controlling shareholder in the interested party -Identification number of the controlling shareholder in the interested party -Citizenship / Country of incorporation or registration: Individual with Israeli citizenshipCountry of citizenship / incorporation or registration: _TASE security number: 2590248Name and type of security: Ordinary shareNature of the change: Increasein shares due to conversion of securities__ ____Note: Purchase or sale of shares on the stock exchange by way of a matched transaction, as defined in Part Three of the TASE Regulations, will be classified as an off-exchange transaction, while providing disclosure in the free-text field that the transaction was conducted in this manner.Is this a change in a single transaction or several transactions (cumulative change): Single transactionDate of change: 20/05/2026Transaction price: 0 Currency agorotWhether they are dormant shares or securities convertible into dormant shares: NoBalance (in quantity of securities) in last report: 0 Holding percentage of all securities of the same type in last report: % 0Change in quantity of securities: 250,251+Current balance (in quantity of securities): 250,251 Current holding percentage of all securities of the same type: % 0Holding percentage after the change: In capital: % 0 In voting power: % 0Explanation: Holding percentage after the change does not relate to convertible securities.Holding percentage after the change on a fully diluted basis: In capital: % 0.01 In voting power: % 0.01

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Note number 1

3 Name of corporation / Surname and first name of the holder: Rafael Arad
Name of corporation / Surname and first name of the holder in English as registered with the Registrar of Companies or in the passport:
Rafael Arad
Type of identification number: Identity card number
Identification number of the holder: 059259408
Type of holder: Director / CEO
The hedge fund has the right to appoint a director or a representative on its behalf to the company's board of directors
Does the holder serve as a representative for the purpose of reporting several shareholders who hold together with him securities of the corporation: No
Name of controlling shareholder in the interested party -
Identification number of the controlling shareholder in the interested party -
Citizenship / Country of incorporation or registration: Individual with Israeli citizenship
Country of citizenship / incorporation or registration:
CASE security number: 2590248
Name and type of security: Ordinary share
Nature of the change: Decrease due to sale on the stock exchange
Note: Purchase or sale of shares on the stock exchange by way of a matched transaction, as defined in Part Three of the TASE Regulations, will be classified as an off-exchange transaction, while providing disclosure in the free-text field that the transaction was conducted in this manner.
Is this a change in a single transaction or several transactions (cumulative change): Single transaction
Date of change: 20/05/2026
Transaction price: 182.80 Currency agorot
Whether they are dormant shares or securities convertible into dormant shares: No
Balance (in quantity of securities) in last report: 250,251 Holding percentage of all securities of the same type in last report: % 0
Change in quantity of securities: 250,251-
Current balance (in quantity of securities): 0 Current holding percentage of all securities of the same type: % 0
Holding percentage after the change: In capital: % 0 In voting power: % 0
Explanation: Holding percentage after the change does not relate to convertible securities.
Holding percentage after the change on a fully diluted basis: In capital: % 0.01 In voting power: % 0.01
Note number 1

4 Name of corporation / Surname and first name of the holder: Orna Hozman Bechor
Name of corporation / Surname and first name of the holder in English as registered with the Registrar of Companies or in the passport:
Orna Hozman Bechor
Type of identification number: Identity card number

---

Identification number of the holder: 024570202

Type of holder: Director / CEO

The hedge fund has the right to appoint a director or a representative on its behalf to the company's board of directors

Does the holder serve as a representative for the purpose of reporting several shareholders who hold together with him securities of the corporation: No

Name of controlling shareholder in the interested party -

Identification number of the controlling shareholder in the interested party -

Citizenship / Country of incorporation or registration: Individual with Israeli citizenship

Country of citizenship / incorporation or registration:

TASE security number: 1207570

Name and type of security: Warrants for directors 4/24

Nature of the change: Decrease in convertible securities due to their conversion into shares or their redemption

Note: Purchase or sale of shares on the stock exchange by way of a matched transaction, as defined in Part Three of the TASE Regulations, will be classified as an off-exchange transaction, while providing disclosure in the free-text field that the transaction was conducted in this manner.

Is this a change in a single transaction or several transactions (cumulative change): Single transaction

Date of change: 20/05/2026

Transaction price: 0 Currency agorot

Whether they are dormant shares or securities convertible into dormant shares: No

Balance (in quantity of securities) in last report: 1,000,000 Holding percentage of all securities of the same type in last report: $\%$ 25

Change in quantity of securities: 666,667-

Current balance (in quantity of securities): 333,333 Current holding percentage of all securities of the same type: $\%$ 12.5

Holding percentage after the change: In capital: $\%$ 0 In voting power: $\%$ 0

Explanation: Holding percentage after the change does not relate to convertible securities.

Holding percentage after the change on a fully diluted basis: In capital: $\%$ 0.01 In voting power: $\%$ 0.01

Note number

5 Name of corporation / Surname and first name of the holder: Orna Hozman Bechor

Name of corporation / Surname and first name of the holder in English as registered with the Registrar of Companies or in the passport:

Orna Hozman Bechor

Type of identification number: Identity card number

Identification number of the holder: 024570202

---

Does the holder serve as a representative for the purpose of reporting several shareholders who hold together with him securities of the corporation: No
Name of controlling shareholder in the interested party -
Identification number of the controlling shareholder in the interested party -
Citizenship / Country of incorporation or registration: Individual with Israeli citizenship
Country of citizenship / incorporation or registration: ___
TASE security number: 2590248
Name and type of security: Ordinary share
Nature of the change: Increase in shares due to conversion of securities ___
____
Note: Purchase or sale of shares on the stock exchange by way of a matched transaction, as defined in Part Three of the TASE Regulations, will be classified as an off-exchange transaction, while providing disclosure in the free-text field that the transaction was conducted in this manner.
Is this a change in a single transaction or several transactions (cumulative change): Single transaction
Date of change: 20/05/2026
Transaction price: 0 Currency agorot
Whether they are dormant shares or securities convertible into dormant shares: No
Balance (in quantity of securities) in last report: 0 Holding percentage of all securities of the same type in last report: % 0
Change in quantity of securities: 250,251+
Current balance (in quantity of securities): 250,251 Current holding percentage of all securities of the same type: % 0
Holding percentage after the change: In capital: % 0 In voting power: % 0
Explanation: Holding percentage after the change does not relate to convertible securities.
Holding percentage after the change on a fully diluted basis: In capital: % 0.01 In voting power: % 0.01
Note number 2
6 Name of corporation / Surname and first name of the holder: Orna Hozman Bechor
Name of corporation / Surname and first name of the holder in English as registered with the Registrar of Companies or in the passport:
Orna Hozman Bechor
Type of identification number: Identity card number
Identification number of the holder: 024570202
Type of holder: Director / CEO
The hedge fund has the right to appoint a director or a representative on its behalf to the company's board of directors
____
Does the holder serve as a representative for the purpose of reporting several shareholders who hold together with him securities of the corporation: No
Name of controlling shareholder in the interested party -
Identification number of the controlling shareholder in the interested party -
Citizenship / Country of incorporation or registration: Individual with Israeli citizenship

---

Country of citizenship / incorporation or registration: ____

TASE security number: 2590248

Name and type of security: Ordinary share

Nature of the change: Decrease____due to sale on the stock exchange

Name and type of security: Ordinary share

Nature of the change: Decrease____due to sale on the stock exchange

Name and type of security: Over

Transaction price: 180.03 Currency agorot

Balance (in quantity of securities) in last report: 250,251 Holding percentage of all securities of the same type in last report: % 0

Change in quantity of securities: 250,251-

Current balance (in quantity of securities): 0 Current holding percentage of all securities of the same type: % 0

Holding percentage after the change: In capital: % 0 In voting power: % 0

Explanation: Holding percentage after the change does not relate to convertible securities.

Holding percentage after the change on a fully diluted basis: In capital: % 0.01 In voting power: % 0.01

Note number 2

7 Name of corporation / Surname and first name of the holder: Lior Shlomo

Lior Shlomo

Identification number of the holder: 039552666

Type of holder: Senior officer who is not a CEO or director and is not an interested party by virtue of holdings

Country of citizenship / incorporation or registration: ____

TASE security number: 2590248

Page 1 of 1

Note: Purchase or sale of shares on the stock exchange by way of a matched transaction, as defined in Part Three of the TASE Regulations, will be classified as an off-exchange transaction, while providing disclosure in the free-text field that the transaction was conducted in this manner.
Is this a change in a single transaction or several transactions (cumulative change): Single transaction
Date of change: 20/05/2026
Transaction price: 182 Currency agorot
Whether they are dormant shares or securities convertible into dormant shares: No
Balance (in quantity of securities) in last report: 70,000 Holding percentage of all securities of the same type in last report: % 0
Change in quantity of securities: 70,000-
Current balance (in quantity of securities): 0 Current holding percentage of all securities of the same type: % 0
Holding percentage after the change: In capital: % 0 In voting power: % 0 Explanation: Holding percentage after the change does not relate to convertible securities.
Holding percentage after the change on a fully diluted basis: In capital: % 0 In voting power: % 0
Note number ___
8 Name of corporation / Surname and first name of the holder: Yonatan Gershon
---
Name of corporation / Surname and first name of the holder in English as registered with the Registrar of Companies or in the passport:
Yonatan Gershon
Type of identification number: Identity card number
Identification number of the holder: 040142119
Type of holder: Senior officer who is not a CEO or director and is not an interested party by virtue of holdings
The hedge fund has the right to appoint a director or a representative on its behalf to the company's board of directors
Does the holder serve as a representative for the purpose of reporting several shareholders who hold together with him securities of the corporation: No
Name of controlling shareholder in the interested party -
Identification number of the controlling shareholder in the interested party -
Citizenship / Country of incorporation or registration: Individual with Israeli citizenship
Country of citizenship / incorporation or registration: ___
TASE security number: 1212513
Name and type of security: Option for employees 8/24
Nature of the change: Decrease___in convertible securities due to their conversion into shares or their redemption
___
Note: Purchase or sale of shares on the stock exchange by way of a matched transaction, as defined in Part Three of the TASE Regulations, will be classified as an off-exchange transaction, while providing disclosure in the free-text field that the transaction was conducted in this manner.
Is this a change in a single transaction or several transactions (cumulative change): Single transaction
Date of change: 20/05/2026

Balance (in quantity of securities) in last report: 3,000,000 Holding percentage of all securities of the same type in last report: $\%$ 5.33

Change in quantity of securities: 650,000-

Current balance (in quantity of securities): 2,350,000 Current holding percentage of all securities of the same type: % 5.67

Holding percentage after the change: In capital: $\%$ 0 In voting power: $\%$ 0

Holding percentage after the change on a fully diluted basis: In capital: $\%$ 0.07 In voting power: $\%$ 0.07

Note number

9 Name of corporation / Surname and first name of the holder: Yonatan Gershon

Yonatan Gershon

Identification number of the holder: 040142119

Type of holder: Senior officer who is not a CEO or director and is not an interested party by virtue of holdings

Nature of the change: Increase in shares due to conversion of securities

Balance (in quantity of securities) in last report: 0 Holding percentage of all securities of the same type in last report: $\%$ 0

Change in quantity of securities: 338,880+
Current balance (in quantity of securities): 338,880 Current holding percentage of all securities of the same type: % 0
Holding percentage after the change: In capital: % 0 In voting power: % 0 Explanation: Holding percentage after the change does not relate to convertible securities.
Holding percentage after the change on a fully diluted basis: In capital: % 0.07 In voting power: % 0.07
Note number 3
10 Name of corporation / Surname and first name of the holder: Yonatan Gershon Name of corporation / Surname and first name of the holder in English as registered with the Registrar of Companies or in the passport: Yonatan Gershon Type of identification number: Identity card number
Identification number of the holder: 040142119
Type of holder: Senior officer who is not a CEO or director and is not an interested party by virtue of holdings The hedge fund has the right to appoint a director or a representative on its behalf to the company's board of directors
Does the holder serve as a representative for the purpose of reporting several shareholders who hold together with him securities of the corporation: No
Name of controlling shareholder in the interested party - Identification number of the controlling shareholder in the interested party - Citizenship / Country of incorporation or registration: Individual with Israeli citizenship
Country of citizenship / incorporation or registration: ___
TASE security number: 2590248
Name and type of security: Ordinary share
Nature of the change: Decrease_____due to sale on the stock exchange
Note: Purchase or sale of shares on the stock exchange by way of a matched transaction, as defined in Part Three of the TASE Regulations, will be classified as an off-exchange transaction, while providing disclosure in the free-text field that the transaction was conducted in this manner.
Is this a change in a single transaction or several transactions (cumulative change): Single transaction
Date of change: 20/05/2026
Transaction price: 180 Currency agorot
Whether they are dormant shares or securities convertible into dormant shares: No
Balance (in quantity of securities) in last report: 338,880 Holding percentage of all securities of the same type in last report: % 0
Change in quantity of securities: 338,880-
Current balance (in quantity of securities): 0 Current holding percentage of all securities of the same type: % 0
Holding percentage after the change: In capital: % 0 In voting power: % 0 Explanation: Holding percentage after the change does not relate to convertible securities.

Holding percentage after the change on a fully diluted basis: In capital: % 0.07 In voting power: % 0.07
Note number 3
11 Name of corporation / Surname and first name of the holder: Shlomo Basson Name of corporation / Surname and first name of the holder in English as registered with the Registrar of Companies or in the passport: Shlomo Basson Type of identification number: Identity card number Identification number of the holder: 059033514 Type of holder: Senior officer who is not a CEO or director and is not an interested party by virtue of holdings The hedge fund has the right to appoint a director or a representative on its behalf to the company's board of directors ——— Does the holder serve as a representative for the purpose of reporting several shareholders who hold together with him securities of the corporation: No Name of controlling shareholder in the interested party - Identification number of the controlling shareholder in the interested party - Citizenship / Country of incorporation or registration: Individual with Israeli citizenship Country of citizenship / incorporation or registration: ———— TASE security number: 1195874 Name and type of security: Option for employees 12/22 Nature of the change: Decrease———in convertible securities due to their conversion into shares or their redemption ——— Note: Purchase or sale of shares on the stock exchange by way of a matched transaction, as defined in Part Three of the TASE Regulations, will be classified as an off-exchange transaction, while providing disclosure in the free-text field that the transaction was conducted in this manner. Is this a change in a single transaction or several transactions (cumulative change): Single transaction Date of change: 20/05/2026 Transaction price: 0 Currency agorot Whether they are dormant shares or securities convertible into dormant shares: No Balance (in quantity of securities) in last report: 1,666,667 Holding percentage of all securities of the same type in last report: % 100 Change in quantity of securities: 1,666,667- Current balance (in quantity of securities): 0 Current holding percentage of all securities of the same type: % 0 Holding percentage after the change: In capital: % 0 In voting power: % 0 Explanation: Holding percentage after the change does not relate to convertible securities. Holding percentage after the change on a fully diluted basis: In capital: % 0 In voting power: % 0 Note number ————
12 Name of corporation / Surname and first name of the holder: Shlomo Basson

Shlomo Basson

Identification number of the holder: 059033514

Nature of the change: Increase in shares due to conversion of securities

Balance (in quantity of securities) in last report: 0 Holding percentage of all securities of the same type in last report: $\%$ 0

Change in quantity of securities: 912,565+

Current balance (in quantity of securities): 912,565 Current holding percentage of all securities of the same type: $\%$ 0

Holding percentage after the change on a fully diluted basis: In capital: $\%$ 0 In voting power: $\%$ 0

Note number 4

13 Name of corporation / Surname and first name of the holder: Shlomo Basson

Shlomo Basson

Identification number of the holder: 059033514

The hedge fund has the right to appoint a director or a representative on its behalf to the company's board of directors
Does the holder serve as a representative for the purpose of reporting several shareholders who hold together with him securities of the corporation: No
Name of controlling shareholder in the interested party -
Identification number of the controlling shareholder in the interested party -
Citizenship / Country of incorporation or registration: Individual with Israeli citizenship
Country of citizenship / incorporation or registration:
TASE security number: 2590248
Name and type of security: Ordinary share
Nature of the change: Decrease due to sale on the stock exchange
Note: Purchase or sale of shares on the stock exchange by way of a matched transaction, as defined in Part Three of the TASE Regulations, will be classified as an off-exchange transaction, while providing disclosure in the free-text field that the transaction was conducted in this manner.
Is this a change in a single transaction or several transactions (cumulative change): Single transaction
Date of change: 20/05/2026
Transaction price: 180 Currency agorot
Whether they are dormant shares or securities convertible into dormant shares: No
Balance (in quantity of securities) in last report: 912,565 Holding percentage of all securities of the same type in last report: % 0
Change in quantity of securities: 912,565-
Current balance (in quantity of securities): 0 Current holding percentage of all securities of the same type: % 0
Holding percentage after the change: In capital: % 0 In voting power: % 0 Explanation: Holding percentage after the change does not relate to convertible securities.
Holding percentage after the change on a fully diluted basis: In capital: % 0 In voting power: % 0
Note number 4
Name of corporation / Surname and first name of the holder: Orit Barkhorder
Name of corporation / Surname and first name of the holder in English as registered with the Registrar of Companies or in the passport:
Orit Barkhorder
Type of identification number: Identity card number
Identification number of the holder: 312677685
Type of holder: Senior officer who is not a CEO or director and is not an interested party by virtue of holdings The hedge fund has the right to appoint a director or a representative on its behalf to the company's board of directors
Does the holder serve as a representative for the purpose of reporting several shareholders who hold together with him securities of the corporation: No
Name of controlling shareholder in the interested party -
Identification number of the controlling shareholder in the interested party -

Country of citizenship / incorporation or registration: __

TASE security number: 1212513

Name and type of security: Option for employees 8/24

Balance (in quantity of securities) in last report: 3,000,000 Holding percentage of all securities of the same type in last report: % 5.33

Change in quantity of securities: 1,500,000-

Current balance (in quantity of securities): 1,500,000 Current holding percentage of all securities of the same type: % 3.62

Holding percentage after the change: In capital: % 0 In voting power: % 0

Holding percentage after the change on a fully diluted basis: In capital: % 0.05 In voting power: % 0.05

15 Name of corporation / Surname and first name of the holder: Orit Barkhorder

Orit Barkhorder

Identification number of the holder: 312677685

Country of citizenship / incorporation or registration: __

Change in quantity of securities: 782,033+

Current balance (in quantity of securities): 782,033 Current holding percentage of all securities of the same type: $\%$ 0

Holding percentage after the change on a fully diluted basis: In capital: $\%$ 0.05 In voting power: $\%$ 0.05

Note number 5

16 Name of corporation / Surname and first name of the holder: Orit Barkhorder

Orit Barkhorder

Identification number of the holder: 312677685

Country of citizenship / incorporation or registration: _____

Nature of the change: Decrease___due to sale on the stock exchange

Date of change: 20/05/2026
Transaction price: 180 Currency agorot
Whether they are dormant shares or securities convertible into dormant shares: No
Balance (in quantity of securities) in last report: 782,033 Holding percentage of all securities of the same type in last report: % 0
Change in quantity of securities: 782,033-
Current balance (in quantity of securities): 0 Current holding percentage of all securities of the same type: % 0
Holding percentage after the change: In capital: % 0 In voting power: % 0 Explanation: Holding percentage after the change does not relate to convertible securities.
Holding percentage after the change on a fully diluted basis: In capital: % 0.05 In voting power: % 0.05
Note number 5
17 Name of corporation / Surname and first name of the holder: Mark Hanna Name of corporation / Surname and first name of the holder in English as registered with the Registrar of Companies or in the passport: Mark Hanna Type of identification number: Identity card number
---
Identification number of the holder: 011459005
Type of holder: Senior officer who is not a CEO or director and is not an interested party by virtue of holdings The hedge fund has the right to appoint a director or a representative on its behalf to the company's board of directors ———
Does the holder serve as a representative for the purpose of reporting several shareholders who hold together with him securities of the corporation: No
Name of controlling shareholder in the interested party - Identification number of the controlling shareholder in the interested party - Citizenship / Country of incorporation or registration: Individual with Israeli citizenship
Country of citizenship / incorporation or registration: ———
TASE security number: 1212513
Name and type of security: Option for employees 8/24 Nature of the change: Decrease———in convertible securities due to their conversion into shares or their redemption ———
Note: Purchase or sale of shares on the stock exchange by way of a matched transaction, as defined in Part Three of the TASE Regulations, will be classified as an off-exchange transaction, while providing disclosure in the free-text field that the transaction was conducted in this manner.
Is this a change in a single transaction or several transactions (cumulative change): Single transaction
Date of change: 20/05/2026
Transaction price: 0 Currency agorot
Whether they are dormant shares or securities convertible into dormant shares: No

Balance (in quantity of securities) in last report: 3,000,000 Holding percentage of all securities of the same type in last report: % 5.33
Change in quantity of securities: 750,000-
Current balance (in quantity of securities): 2,250,000 Current holding percentage of all securities of the same type: % 5.43
Holding percentage after the change: In capital: % 0 In voting power: % 0 Explanation: Holding percentage after the change does not relate to convertible securities.
Holding percentage after the change on a fully diluted basis: In capital: % 0.07 In voting power: % 0.07
Note number ___
18 Name of corporation / Surname and first name of the holder: Mark Hanna Name of corporation / Surname and first name of the holder in English as registered with the Registrar of Companies or in the passport: Mark Hanna Type of identification number: Identity card number
---
Identification number of the holder: 011459005
Type of holder: Senior officer who is not a CEO or director and is not an interested party by virtue of holdings The hedge fund has the right to appoint a director or a representative on its behalf to the company's board of directors _____
Does the holder serve as a representative for the purpose of reporting several shareholders who hold together with him securities of the corporation: No
Name of controlling shareholder in the interested party - Identification number of the controlling shareholder in the interested party - Citizenship / Country of incorporation or registration: Individual with Israeli citizenship
Country of citizenship / incorporation or registration: ___
TASE security number: 2590248
Name and type of security: Ordinary share Nature of the change: Increase in shares due to conversion of securities_____
Note: Purchase or sale of shares on the stock exchange by way of a matched transaction, as defined in Part Three of the TASE Regulations, will be classified as an off-exchange transaction, while providing disclosure in the free-text field that the transaction was conducted in this manner.
Is this a change in a single transaction or several transactions (cumulative change): Single transaction
Date of change: 20/05/2026
Transaction price: 0 Currency agorot
Whether they are dormant shares or securities convertible into dormant shares: No
Balance (in quantity of securities) in last report: 0 Holding percentage of all securities of the same type in last report: % 0
Change in quantity of securities: 391,016+
Current balance (in quantity of securities): 391,016 Current holding percentage of all securities of the same type: % 0

Holding percentage after the change: In capital: % 0 In voting power: % 0 Explanation: Holding percentage after the change does not relate to convertible securities.
Holding percentage after the change on a fully diluted basis: In capital: % 0.07 In voting power: % 0.07
Note number 6
19 Name of corporation / Surname and first name of the holder: Mark Hanna Name of corporation / Surname and first name of the holder in English as registered with the Registrar of Companies or in the passport: Mark Hanna Type of identification number: Identity card number
Identification number of the holder: 011459005
Type of holder: Senior officer who is not a CEO or director and is not an interested party by virtue of holdings The hedge fund has the right to appoint a director or a representative on its behalf to the company's board of directors
Does the holder serve as a representative for the purpose of reporting several shareholders who hold together with him securities of the corporation: No
Name of controlling shareholder in the interested party - Identification number of the controlling shareholder in the interested party - Citizenship / Country of incorporation or registration: Individual with Israeli citizenship
Country of citizenship / incorporation or registration: __
TASE security number: 2590248
Name and type of security: Ordinary share Nature of the change: Decrease_due to sale on the stock exchange
Note: Purchase or sale of shares on the stock exchange by way of a matched transaction, as defined in Part Three of the TASE Regulations, will be classified as an off-exchange transaction, while providing disclosure in the free-text field that the transaction was conducted in this manner.
Is this a change in a single transaction or several transactions (cumulative change): Single transaction
Date of change: 20/05/2026
Transaction price: 180 Currency agorot
Whether they are dormant shares or securities convertible into dormant shares: No
Balance (in quantity of securities) in last report: 391,016 Holding percentage of all securities of the same type in last report: % 0
Change in quantity of securities: 391,016-
Current balance (in quantity of securities): 0 Current holding percentage of all securities of the same type: % 0
Holding percentage after the change: In capital: % 0 In voting power: % 0 Explanation: Holding percentage after the change does not relate to convertible securities.
Holding percentage after the change on a fully diluted basis: In capital: % 0.07 In voting power: % 0.07
Note number 6

20 Name of corporation / Surname and first name of the holder: Eliyahu Mordoch Name of corporation / Surname and first name of the holder in English as registered with the Registrar of Companies or in the passport: Eliyahu Mordoch Type of identification number: Identity card number Identification number of the holder: 024433260 Type of holder: Senior officer who is not a CEO or director and is not an interested party by virtue of holdings The hedge fund has the right to appoint a director or a representative on its behalf to the company's board of directors ——— Does the holder serve as a representative for the purpose of reporting several shareholders who hold together with him securities of the corporation: No Name of controlling shareholder in the interested party - Identification number of the controlling shareholder in the interested party - Citizenship / Country of incorporation or registration: Individual with Israeli citizenship Country of citizenship / incorporation or registration: ———— TASE security number: 1212513 Name and type of security: Option for employees 8/24 Nature of the change: Decrease———in convertible securities due to their conversion into shares or their redemption ——— Note: Purchase or sale of shares on the stock exchange by way of a matched transaction, as defined in Part Three of the TASE Regulations, will be classified as an off-exchange transaction, while providing disclosure in the free-text field that the transaction was conducted in this manner. Is this a change in a single transaction or several transactions (cumulative change): Single transaction Date of change: 20/05/2026 Transaction price: 0 Currency agorot Whether they are dormant shares or securities convertible into dormant shares: No Balance (in quantity of securities) in last report: 2,500,000 Holding percentage of all securities of the same type in last report: % 4.44 Change in quantity of securities: 500,000- Current balance (in quantity of securities): 2,000,000 Current holding percentage of all securities of the same type: % 4.83 Holding percentage after the change: In capital: % 0 In voting power: % 0 Explanation: Holding percentage after the change does not relate to convertible securities. Holding percentage after the change on a fully diluted basis: In capital: % 0.06 In voting power: % 0.06 Note number ————

Identification number of the holder: 024433260

Change in quantity of securities: 260,677+

Current balance (in quantity of securities): 260,677 Current holding percentage of all securities of the same type: $\%$ 0

Holding percentage after the change on a fully diluted basis: In capital: $\%$ 0.06 In voting power: $\%$ 0.06

Note number 7

22 Name of corporation / Surname and first name of the holder: Eliyahu Mordoch

Eliyahu Mordoch

Identification number of the holder: 024433260

Does the holder serve as a representative for the purpose of reporting several shareholders who hold together with

him securities of the corporation: No

Country of citizenship / incorporation or registration: _____

Nature of the change: Decrease_due to sale on the stock exchange

Transaction price: 180 Currency agorot

Balance (in quantity of securities) in last report: 260,677 Holding percentage of all securities of the same type in last report: $\%$ 0

Change in quantity of securities: 260,677-

Current balance (in quantity of securities): 0 Current holding percentage of all securities of the same type: $\%$ 0

Holding percentage after the change on a fully diluted basis: In capital: $\%$ 0.06 In voting power: $\%$ 0.06

Note number 7

23 Name of corporation / Surname and first name of the holder: Samuel Holzkan

Samuel Holzkan

Identification number of the holder: 022364244

TASE security number: 1212513 Name and type of security: Option for employees 8/24 Nature of the change: Decrease_in convertible securities due to their conversion into shares or their redemption __ Note: Purchase or sale of shares on the stock exchange by way of a matched transaction, as defined in Part Three of the TASE Regulations, will be classified as an off-exchange transaction, while providing disclosure in the free-text field that the transaction was conducted in this manner. Is this a change in a single transaction or several transactions (cumulative change): Single transaction Date of change: 20/05/2026 Transaction price: 0 Currency agorot Whether they are dormant shares or securities convertible into dormant shares: No Balance (in quantity of securities) in last report: 3,000,000 Holding percentage of all securities of the same type in last report: % 5.33 Change in quantity of securities: 1,750,000- Current balance (in quantity of securities): 1,250,000 Current holding percentage of all securities of the same type: % 3.02 Holding percentage after the change: In capital: % 0 In voting power: % 0 Explanation: Holding percentage after the change does not relate to convertible securities. Holding percentage after the change on a fully diluted basis: In capital: % 0.04 In voting power: % 0.04 Note number __

24 Name of corporation / Surname and first name of the holder: Samuel Holzkan Name of corporation / Surname and first name of the holder in English as registered with the Registrar of Companies or in the passport: Samuel Holzkan Type of identification number: Identity card number Identification number of the holder: 022364244 Type of holder: Senior officer who is not a CEO or director and is not an interested party by virtue of holdings The hedge fund has the right to appoint a director or a representative on its behalf to the company's board of directors __ Does the holder serve as a representative for the purpose of reporting several shareholders who hold together with him securities of the corporation: No Name of controlling shareholder in the interested party - Identification number of the controlling shareholder in the interested party - Citizenship / Country of incorporation or registration: Individual with Israeli citizenship Country of citizenship / incorporation or registration: _ TASE security number: 2590248 Name and type of security: Ordinary share Nature of the change: Increasein shares due to conversion of securities__ _

Note: Purchase or sale of shares on the stock exchange by way of a matched transaction, as defined in Part Three of the TASE Regulations, will be classified as an off-exchange transaction, while providing disclosure in the free-text field that the transaction was conducted in this manner.
Is this a change in a single transaction or several transactions (cumulative change): Single transaction
Date of change: 20/05/2026
Transaction price: 0 Currency agorot
Whether they are dormant shares or securities convertible into dormant shares: No
Balance (in quantity of securities) in last report: 0 Holding percentage of all securities of the same type in last report: % 0
Change in quantity of securities: 912,371+
Current balance (in quantity of securities): 912,371 Current holding percentage of all securities of the same type: % 0
Holding percentage after the change: In capital: % 0 In voting power: % 0 Explanation: Holding percentage after the change does not relate to convertible securities.
Holding percentage after the change on a fully diluted basis: In capital: % 0.04 In voting power: % 0.04
Note number 8
25 Name of corporation / Surname and first name of the holder: Samuel Holzkan Name of corporation / Surname and first name of the holder in English as registered with the Registrar of Companies or in the passport: Samuel Holzkan Type of identification number: Identity card number
---
Identification number of the holder: 022364244
Type of holder: Senior officer who is not a CEO or director and is not an interested party by virtue of holdings The hedge fund has the right to appoint a director or a representative on its behalf to the company's board of directors ——
Does the holder serve as a representative for the purpose of reporting several shareholders who hold together with him securities of the corporation: No
Name of controlling shareholder in the interested party -
Identification number of the controlling shareholder in the interested party -
Citizenship / Country of incorporation or registration: Individual with Israeli citizenship
Country of citizenship / incorporation or registration: ———
TASE security number: 2590248
Name and type of security: Ordinary share
Nature of the change: Decrease—— due to sale on the stock exchange
——
Note: Purchase or sale of shares on the stock exchange by way of a matched transaction, as defined in Part Three of the TASE Regulations, will be classified as an off-exchange transaction, while providing disclosure in the free-text field that the transaction was conducted in this manner.
Is this a change in a single transaction or several transactions (cumulative change): Single transaction
Date of change: 20/05/2026

Transaction price: 180 Currency agorot

Balance (in quantity of securities) in last report: 912,371 Holding percentage of all securities of the same type in last report: % 0

Change in quantity of securities: 912,371-

Current balance (in quantity of securities): 0 Current holding percentage of all securities of the same type: % 0

Holding percentage after the change on a fully diluted basis: In capital: % 0.04 In voting power: % 0.04

Note number 8

26 Name of corporation / Surname and first name of the holder: Moshe Kaplinski Peleg

Moshe Kaplinski Peleg

Identification number of the holder: 054679550

Nature of the change: Decrease___due to sale on the stock exchange

Transaction price: 180.31 Currency agorot

Balance (in quantity of securities) in last report: 3,620,662 Holding percentage of all securities of the same type in last report: % 0.12

Change in quantity of securities: 1,000,000-

Current balance (in quantity of securities): 2,620,662 Current holding percentage of all securities of the same type: % 0.08

Holding percentage after the change: In capital: % 0.08 In voting power: % 0.08

Holding percentage after the change on a fully diluted basis: In capital: % 0.36 In voting power: % 0.36

Note: If the value "Increase due to compulsory purchase of borrowed securities" or the value "Decrease due to compulsory sale of borrowed securities" is selected, then borrowed securities that were not returned to the lender and therefore the lending action became a compulsory purchase and the lending action a compulsory sale.

No.	Note
1	The allocation of the shares was made in accordance with the Cashless exercise mechanism according to the amount of the monetary benefit inherent in the warrants only. After their allocation as detailed in section 2, the shares were sold as detailed in section 3.
2	The allocation of the shares was made in accordance with the Cashless exercise mechanism according to the amount of the monetary benefit inherent in the warrants only. After their allocation as detailed in section 5, the shares were sold as detailed in section 6.
3	The allocation of the shares was made in accordance with the Cashless exercise mechanism according to the amount of the monetary benefit inherent in the warrants only. After their allocation as detailed in section 9, the shares were sold as detailed in section 10.
4	The allocation of the shares was made in accordance with the Cashless exercise mechanism according to the amount of the monetary benefit inherent in the warrants only. After their allocation as detailed in section 12, the shares were sold as detailed in section 13.
5	The allocation of the shares was made in accordance with the Cashless exercise mechanism according to the amount of the monetary benefit inherent in the warrants only. After their allocation as detailed in section 15, the shares were sold as detailed in section 16.
6	The allocation of the shares was made in accordance with the Cashless exercise mechanism according to the amount of the monetary benefit inherent in the warrants only. After their allocation as detailed in section 18, the shares were sold as detailed in section 19.
7	The allocation of the shares was made in accordance with the Cashless exercise mechanism according to the amount of the monetary benefit inherent in the warrants only. After their allocation as detailed in section 21, the shares were sold as detailed in section 22.
8	The allocation of the shares was made in accordance with the Cashless exercise mechanism according to the amount of the monetary benefit inherent in the warrants only. After their allocation as detailed in section 24, the shares were sold as detailed in section 25.

1. Was all of the consideration paid at the date of the change Yes

If all of the consideration was not paid at the date of the change, please state the date of completion of the payment:

1. If the change is by way of signing a lending agreement, please specify details regarding the manner of termination of the lending:

Explanation: The holding percentages must be stated taking into account all securities held by the interested party.

1. The date and time on which the corporation first became aware of the event or matter 20/05/2026 at 16:00
2. Details of the actions that caused the change

Details of the authorized signatories on behalf of the corporation:

	Name of signatory	Position
1	Mr. Eliyahu Mordoch	Company secretary

Explanation: According to Regulation 5 of the Securities Regulations (Periodic and Immediate Reports), 1970, a report filed pursuant to these regulations shall be signed by those authorized to sign on behalf of the corporation. The staff position on the matter can be found on the ISA website: Click here.

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

Securities of the corporation are listed for trading on the Tel Aviv Stock Exchange. Form structure update date: 04/02/2025
Short name: Bazek
Address: P.O.B.4, Haifa3100001 Telephone: 04-8788135, 04-8788115 Fax: 073-2928115
E-mail: info@bazan.co.il Company website: https://www.bazan.co.il/
Former names of reporting entity:
Name of electronic reporter: Uri Burla Noa Position: Legal Counsel Employer company name:
Address: Refinery complex, P.O.B.4, Haifa3100001 Telephone: 04-8788359 Fax: E-mail: unoa@bazan.co.il