Bazan Oil Refineries Ltd. — Share Issue/Capital Change 2025

Aug 28, 2025

OIL REFINERIES LTD.

OIL REFINERIES LTD.

Registration Number: 520036658

To: Israel Securities Authority To: Tel Aviv Stock Exchange Ltd. Form Number: T087 (Public) Transmitted via MAGNA: 28/08/2025 Israel Securities Authority: www.isa.gov.il Tel Aviv Stock Exchange: www.tase.co.il Reference: 2025-01-064867

Capital Structure, Grant of Rights to Purchase Shares, and Registers of the Corporation's Securities and 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:

Issuance of bonds by way of expanding a series – Bonds (Series 15)

Explanation: Please briefly describe the nature of the change.

Reference numbers of previous reports on the subject: _________, _________, _________.

1. The Corporation's Securities Position After the Change:

Name and Type of Security	Security Number on TASE	Quantity in Registered Capital	Issued and Paid-Up Capital	Quantity Registered in the Name of the Registration Company
Ordinary share of 1 NIS par value	2590248	4,000,000,010	Last Report: 3,219,156,961
Current: 3,219,156,961	3,219,156,951
Dormant shares	1196302	0	Last Report: 109,996,894
Current: 109,996,894	109,996,894
Bond (Series 9)	2590461	0	Last Report: 122,627,400
Current: 122,627,400	122,627,400
Bond (Series 10)	2590511	0	Last Report: 571,776,747
Current: 571,776,747	571,776,747
Bond (Series 12)	2590578	0	Last Report: 1,007,688,952
Current: 1,007,688,952	1,007,688,952
Bond (Series 13)	1195346	0	Last Report: 525,000,000
Current: 525,000,000	525,000,000
Bond (Series 15)	1211986	0	Last Report: 217,788,000

Name and Type of Security	Security Number on TASE	Quantity in Registered Capital	Issued and Paid-Up Capital	Quantity Registered in the Name of the Registration Company
Current: 657,232,000	657,232,000
Employee Option 11/22	1193549	0	Last Report: 3,000,000
Current: 3,000,000	0
Employee Option 12/22	1195874	0	Last Report: 18,500,000
Current: 18,500,000	0
Director Options 4/24	1207570	0	Last Report: 4,333,334
Current: 4,333,334	0
Employee Option 8/24	1212513	0	Last Report: 43,000,000
Current: 43,000,000	0
Restricted Stock Units (RSU) for Employees	1225127	0	Last Report: 7,380,000
Current: 7,380,000	0

Explanation: All company securities must be detailed, including securities not listed for trading.

2. The Corporation Announces That:

On the date: 28/08/2025

A change occurred 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: Issuance of bonds by way of expanding a series – Bonds (Series 15)

Explanation: Please describe all details of the transaction or action that caused the change in the corporation's securities.

Details:

• Name of registered holder affected by the change: Mizrahi Tefahot Registration Company Ltd.
• Type of identification number: Number in the Israeli Companies Registrar
• Identification number: 510422249
• Nature of the change: Public offering
• Date of change: 28/08/2025
• Executed via the TASE clearinghouse: Yes
• Type and name of security affected: Bond (Series 15)
• Security number on TASE: 1211986
• Holder's balance in the security in the last report: 217,788,000
• Holder's balance in the security after the change: 657,232,000
• Total quantity of securities increased/decreased: 439,444,000
• Is this a grant of rights to purchase shares: No
• Total consideration for allocated securities: _________
• Security number on TASE of the share resulting from exercise: _________
• Number of shares resulting from full exercise/conversion: _________
• Total additional consideration from full exercise/conversion: _________
• Period in which the security can be exercised: _________
• From date: _________ to date: _________
• The allocated securities will be registered for trading: _________
• The allocation of these securities is in continuation of: _________ published on: _________, reference number: _________
• The security has been fully paid and the consideration has been fully received.
• The security has been fully paid, but the consideration has not been fully received.
• Issued for the purpose of an ATM program
• Other: _________

Explanations:

• 1. If the change affects more than one security, the effect of the change must be detailed in a separate line for each security.
• 1. Date of change all changes of the same type, in the same security, made on one day, will be summarized in one line. For this purpose – changes made through the TASE clearinghouse must be separated from changes made directly in the company's books.
• 1. The change for a decrease, add the sign "-".
• 1. In all quantity fields, the quantity of securities must be entered, not NIS par value.

3. Main Shareholder Register as of the Reporting Date:

No.	Name of Registered Shareholder	Type of ID Number	ID Number	Security Number on TASE	Type and Par Value of Shares	Number of Shares	Holds Shares as Trustee
1	Mizrahi Tefahot Registration Company Ltd.	Number in the Israeli Companies Registrar	510422249	2590248	Ordinary share of 1 NIS par value	3,219,156,951	No
2	Kavim Shipping Company Ltd.	Number in the Israeli Companies Registrar	520027566	2590248	Ordinary share of 1 NIS par value	5	No
3	Gag Export Industries Ltd.	Number in the Israeli Companies Registrar	510242142	2590248	Ordinary share of 1 NIS par value	5	No

1. Attached is a file of the shareholder register in accordance with Section 130 of the Companies Law, 1999.

2. Attached is an updated file of the corporation's securities registers, including the register of option holders and the register of bondholders. 00067625_isa.pdf

Details of the authorized signatories on behalf of the corporation:

No.	Name of Signatory	Position
1	Eliyahu Mordoch	Company Secretary

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

Previous reference numbers on the subject (the mention does not constitute inclusion by reference):

Securities of the corporation are listed for trading on the Tel Aviv Stock Exchange.

Short name: OIL REFINERIES LTD.

Address: P.O. Box 4, Haifa 3100001 Phone: 04-8788135, 04-8788115 Fax: 073-2928115

Email: info@bazan.co.il Company website: https://www.bazan.co.il/

Previous names of the reporting entity:

Name of electronic reporter: Mordoch Eliyahu Position: Company Secretary Employer company name:

Address: P.O. Box 4, Haifa 31000 Phone: 04-8788135 Fax: 04-8788741 Email: emordoch@bazan.co.il

End of document.