Bazan Oil Refineries Ltd. — Share Issue/Capital Change 2026

Feb 17, 2026

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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.

Bazan Oil Reneries Ltd.
OIL REFINERIES LTD

Registered number: 520036658

To: Israel Securities Authority To: Tel-Aviv Stock Exchange Ltd. T087 ( Public ) Transferred by MAGNA: 17/02/2026 www.isa.gov.il www.tase.co.il Reference: 2026-01-015657

Capital structure, grant of rights to purchase shares and the registers of the corporation's securities and changes therein Regulation 31E of the Securities Regulations (Periodic and Immediate Reports), 5730 - 1970 Regulation 31(a) of the Securities Regulations (Periodic and Immediate Reports), 5730 - 1970 Regulation 31(b1) of the Securities Regulations (Periodic and Immediate Reports), 5730 - 1970 Regulation 32 of the Securities Regulations (Periodic and Immediate Reports), 5730 - 1970

Nature of the change:	Grant and expiry of options
	Explanation: A brief description must be given of the nature of the change

	Reference numbers of previous reports on the subject:,,

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

			Issued and paid-up capital Amount in last Current report amount		Amount registered in the name of registration company
Name and type of security	Security number on the stock exchange	Amount in registered capital
Ordinary share of NIS 1 par value	2590248	4,000,000,010	3,220,827,204 3,220,827,204		3,220,827,194
Dormant shares	1196302	0	109,996,894 109,996,894		109,996,894
BONDS (Series 10)	2590511	0	461,819,680 461,819,680		461,819,680
BONDS (Series 12)	2590578	0	980,454,115 980,454,115		980,454,115
BONDS (Series 13)	1195346	0	525,000,000 525,000,000		525,000,000
BONDS (Series 15)	1211986	0	657,232,000 657,232,000		657,232,000
Option to employees 12/22	1195874	0	1,666,667 1,666,667		0
Options to directors 4/24	1207570	0	4,333,334 4,000,000		0
Option to employees 8/24	1212513	0	43,000,000 56,274,000		0
Restricted stock units (RSU) to employees	1225127	0	7,380,000 7,380,000		0

Explanation: All of the company's securities must be detailed, including securities not listed for trading.

2. The corporation announces that:
On the date 17/02/2026
From date	to date

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A change has 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 Grant of options to the Company CEO

Explanation: The full details of the transaction or action due to which a change occurred in the corporation's securities must be described.

Name of registered holder for whom the change occurred: IBI Trustees Management

Type of identication number: Number in the Israeli Companies RegisterIdentication number: 515020428

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Nature of the change: Grant to employees
Date of change: 17/02/2026Executed through the stock exchange clearing house: No
Type and name of security in which there was a change: Option to employees 8/24 Security number on the stock exchange: 1212513
Balance of the holder in the security in last report: 43,000,000
Balance of the holder in this security after the change: 56,274,000
Total quantity of securities in which there was a decrease/increase: 13,274,000
Is this a grant of rights to purchase shares No
Total consideration for the securities that were allotted: The stock exchange number of the share arising from the exercise of the security:
Number of shares to arise from full exercise/conversion of the security:
Total exercise premium to be received from full exercise/conversion of the security into shares:
The period during which the security may be exercised: Fromuntil
The securities allotted will be listed for trading:
The aforesaid allotment of securities is further topublished onand its reference number is The security has been fully paid up and the consideration has been fully received. The security has been fully paid up, but the consideration has not been fully received. Issued for an ATM program Other. Employee option grant
Name of registered holder for whom the change occurred: IBI Trustees Management
2 Type of identication number: Number in the Israeli Companies RegisterIdentication number: 515020428
Nature of the change: Expiry
Date of change: 17/02/2026Executed through the stock exchange clearing house: No
Type and name of security in which there was a change: Options to directors 4/24 Security number on the stock exchange: 1207570
Balance of the holder in the security in last report: 4,333,334
Balance of the holder in this security after the change: 4,000,000
Total quantity of securities in which there was a decrease/increase: 333,334
Is this a grant of rights to purchase shares No
Total consideration for the securities that were allotted: The stock exchange number of the share arising from the exercise of the security:
Number of shares to arise from full exercise/conversion of the security:
Total exercise premium to be received from full exercise/conversion of the security into shares:

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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.

The period during which the security may be exercised: Fromuntil The securities allotted will be listed for trading: The aforesaid allotment of securities is further topublished onand its reference number is The security has been fully paid up and the consideration has been fully received. The security has been fully paid up, but the consideration has not been fully received. Issued for an ATM program Other. Expiry of options
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. 2. Date of change – all changes of the same type, in the same security, that were executed on one day, shall be summarized on a single line. For this matter – changes executed through the stock exchange clearing house must be separated from changes executed directly in the company books. 3. The change – for a decrease the sign "-" must be added. 4. For all quantity elds, the quantity of securities and not NIS par value must be lled in.
A change has occurred only in the register of holders of the corporation's securities (without a change in the quantity of the corporation's securities) as a result of: Description of the nature of the change Explanation: The full details of the transaction or action due to which a change occurred in the register must be described
1 Name of the registered holder for whom the change occurred:
Type of identication number: Identication number:
Date of change: Executed through the stock exchange clearing house:
Type and name of security in which there was a change:
Security number on the stock exchange:
Amount of change:
Balance of the holder in this security after the change:

1. Main particulars of the shareholders' register as of the report date are as follows:

No.	Name of registered shareholder	Type of identication number	Identication number	Security number on the stock exchange	Type of shares and their par value	Number of shares	Whether holds the shares as trustee
1	Mizrahi Tefahot Registration Company Ltd.	Number in the Israeli Companies Register	510422249	2590248	Ordinary share of NIS 1 par value	3,220,827,194	No
2	Kavim Shipping Company Ltd.	Number in the Israeli Companies Register	520027566	2590248	Ordinary share of NIS 1 par value	5	No
3	Gag Company for Export Industries Ltd.	Number in the Israeli Companies Register	510242142	2590248	Ordinary share of NIS 1 par value	5	No

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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.

1999
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1. Attached is an updated le of the corporation's securities registers, including the option holders register and the bond holders register Register17022026_isa.pdf

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

Name of signatory Position
1 Eliyahu Mordoch	Company secretary

Explanation: According to Regulation 5 of the Securities Regulations (Periodic and Immediate Reports) (5730 – 1970), a report led under these Regulations shall be signed by the persons authorized to sign on behalf of the corporation. The Staff's 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 incorporation by reference):

The corporation's securities are listed for trading on the Tel-Aviv Stock Exchange Form structure update date: 06/08/2024

Short name: Bazan

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

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

Previous names of reporting entity:

Name of electronic reporter: Mordoch EliyahuHis position: Company secretaryName of employing company:

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