Blue Square Real Estate Ltd.

Regulatory Filings • Dec 29, 2025

December 29, 2025

To: Israel Securities Authority, The Tel Aviv Stock Exchange

Ltd.

www.new.isa.gov.il www.tase.co.il

Subject: Blue Square Real Estate Ltd. (the "Company") - Issuance Results According to the Shelf Offering Report for the Expansion of the Bonds (Series 9)

In accordance with the provisions of Section 30 of the Securities Law, 1968 and the Securities Regulations (Notice Regarding the Results of the Offer in the Prospectus), 1969, the Company is honored to announce the results of the issuance according to the shelf offering report dated December 28, 2025 (hereinafter: the "Shelf Offering Report"),¹ that was published by virtue of the shelf prospectus dated February 28, 2023.²

1.

According to the Shelf Offering Report, up to NIS 890,499,000 par value of bonds (Series 9) of the Company, registered in name (hereinafter: the "Bonds (Series 9)"), were offered to the public, whereas in accordance with Section 1.1 of the Shelf Offering Report the Company undertook not to issue more than NIS 799,891,000 par value of Bonds (Series 9).

2.

The Bonds (Series 9) were offered to the public by way of a uniform offering, in accordance with the Securities Regulations (Method of Offering Securities to the Public), 2007, in 890,499 units (hereinafter: the "Units"), each consisting of NIS 1,000 par value, through a tender at a unit price not less than NIS 1,085 (hereinafter: the "Minimum Unit Price" and the "Tender" respectively).

3.

As detailed in Section 3 of the Shelf Offering Report, the Company received an early commitment from classied investors to acquire 799,891 units, constituting approximately 89.8% of all the units offered to the public in the tender according to the Shelf Offering Report.

4.

The offering of the Bonds (Series 9) was not underwritten.

5.

The list of subscriptions to purchase the offered commercial papers opened on December 29, 2025 at 09:00 and closed on December 29, 2025 at 16:00.

1. Following are the tender results:

6.1.

Within the tender, 41 orders were received for the purchase of 799,891 units.

6.2.

The unit price set in the tender is NIS 1,085 per unit (hereinafter: the "Set Unit Price").

6.3.

In light of the limitation of the offer size to NIS 799,891,000 par value of Bonds (Series 9), the total requests accepted in the tender are for 799,891 units, for 799,891,000 par value of Bonds (Series 9), and the allocation was as follows:

6.3.1.

34 orders from classied investors for the purchase of 696,305 units that were submitted at a price higher than the set unit price were fully accepted;

¹ Reference number: 2025-01-104103.

² Published on February 27, 2023, reference number: 2023-01-018340.

2024-06-12

2 - -

• 6.3.2. 7 orders from classied investors for the purchase of 103,586 units at the determined unit price were fully accepted;
• 6.3.3. No orders were received from public applicants at the closing price.
• 1. Accordingly, and in accordance with the shelf offering report, the company will allocate NIS 799,891,000 par value of bonds (Series 9'), for a total cash amount of approximately NIS 868 million.
• 1. The adjusted value of the bond (Series 9') as of December 25, 2025 (the last trading day prior to the publication date of the shelf offering report), was NIS 1.1783 for NIS 1 par value. Accordingly, the bonds (Series 9') were issued under the shelf offering report at a price lower than their adjusted value, so that they were issued at a discount rate of 7.92%. The weighted discount rate of the bonds (Series 9') after the issuance of the bonds (Series 9') according to the shelf offering report (as part of the series expansion) is 8.18%.
• 1. The total (gross) proceeds to be received by the company in respect of the issuance amount to approximately NIS 868 million.

The company thanks the public for its response to the offer.

Respectfully,

Blue Square Real Estate Ltd.

By: Arthur Leshinsky, CEO of the company