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

Jun 2, 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

Number in the Register: 520036658

To: Israel Securities Authority
To: Tel Aviv Stock Exchange Ltd.
T087 (Public)
Filed via MAGNA: 02/06/2026

www.isa.gov.il
www.tase.co.il
Reference: 2026-01-052305

Share capital structure, granting of rights to purchase shares and the corporation's securities registers 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: Issuance of BONDS (Series 17)

Explanation: briefly describe the nature of the change

Reference numbers of previous reports on the matter: _, _, ____.

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

Name and type of security	Security number on the Stock Exchange	Amount in the registered capital	Issued and paid-up capital		Quantity registered in the name of the registration company
			Quantity in last report	Current quantity
Ordinary share	2590248	4,000,000,010	3,231,084,314	3,231,084,314	3,231,084,304
Dormant shares	1196302	0	109,996,894	109,996,894	109,996,894
BONDS (Series 10')	2590511	0	351,862,614	351,862,614	351,862,614
BONDS (Series 12')	2590578	0	925,984,442	925,984,442	925,984,442
BONDS (Series 13')	1195346	0	509,250,000	509,250,000	509,250,000
BONDS (Series 15')	1211986	0	657,232,000	657,232,000	657,232,000
BONDS (Series 17)	1242585	0	0	400,000,000	400,000,000
Warrants to directors 4/24	1207570	0	1,999,999	1,999,999	0
Warrant to employees 8/24	1212513	0	63,205,667	63,205,667	0
Blocked share units (RSU) for employees	1225127	0	4,860,000	4,860,000	0

Explanation: specify all of the company's securities, including securities not listed for trading.

1. The corporation announces that:

☐ On date 02/06/2026
☐ From date _ to date _

☐ 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 Issuance of BONDS (Series 17)

Explanation: describe the full details of the transaction or action due to which a change has occurred in the corporation's securities.

Name of the registered holder in respect of whom the change occurred: Mizrahi Tefahot Registration Company Ltd.

Type of identification number: Number in the Israeli Companies RegistrarIdentification number: 510422249

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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.

Nature of the change: Public issuance

Date of the change: 02/06/2026 Performed via the Stock Exchange Clearing House: Yes

Type and name of security in which the change occurred: BONDS (Series 17)

Security number on the Stock Exchange: 1242585

Balance of the holder in the security in the last report: 0

Balance of the holder in this security after the change: 400,000,000

Total quantity of securities in which there was a decrease/increase: 400,000,000

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 that will derive from exercise of the security:

Number of shares that will derive from full exercise / conversion of the security:

Total exercise premium that will be received from full exercise / conversion of the security into shares:

The period during which the security may be exercised:

From until

The securities allotted will be listed for trading:

The allocation of said securities is further to published on and 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 the purpose of an ATM program
Other.

Explanations:

1. If the change affects more than one security, specify the impact of the change in a separate line for each security.
2. Date of change - all changes of the same type, in the same security, made on one day, shall be summarized in one line. For this purpose - separate changes performed through the Stock Exchange Clearing House from changes performed directly in the company's books.
3. The change - for a decrease, add the sign "-".
4. In all quantity fields, fill in the quantity of securities and not NIS par value.

A change 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: describe the full details of the transaction or action due to which a change occurred in the register

1 Name of the registered holder in respect of whom the change occurred:

Type of identification number: Identification number:

Date of the change: Performed via the Stock Exchange Clearing House:

Type and name of security in which the change occurred:

Security number on the Stock Exchange:

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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.

Quantity of the 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 identification number	Identification number	Security number on the Stock Exchange	Type of shares and their par value	Number of shares	Is the holder holding the shares as trustee
1	Mizrahi Tefahot Registration Company Ltd.	Number in the Israeli Companies Registrar	510422249	2590248	Ordinary share	3,231,084,304	No
2	Kavim Shipping Company Ltd.	Number in the Israeli Companies Registrar	520027566	2590248	Ordinary share	5	No
3	Gag Export Industries Ltd.	Number in the Israeli Companies Registrar	510242142	2590248	Ordinary share	5	No

1. Attached is a file of the shareholders' register in accordance with the provisions of Section 130 of the Companies Law, 5759 - 1999

2. Attached is an updated file of the corporation's securities registers, including the register of warrant holders and the register of BONDS holders Register02062026_isa.pdf

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

	Name of signatory	Position
1	Eliyahu Morduch	Company Secretary

Explanation: Pursuant to Regulation 5 of the Securities Regulations (Periodic and Immediate Reports), 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 ISA website: Click here.

Reference numbers of previous documents on the matter (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/

Former names of reporting entity:

Name of electronic reporter: Uri Burla NoaPosition: Legal CounselName of employing company:

Address: Bazan complex, P.O.B.4, Haifa3100001Telephone: 04-8788359Fax: Email: unoa@bazan.co.il