Cellcom Israel Ltd.

Major Shareholding Notification • Jan 5, 2026

CELLCOM ISRAEL LTD.

Registration Number: 511930125

To:

• Israel Securities Authority
• Tel Aviv Stock Exchange Ltd.

Form Number: T087 (Public)

Reported on MAGNA: 05/01/2026 Reference: 2026-01-001713

Capital Structure, Granting of Rights to Purchase Shares, and Registers of the Company's Securities and Their Changes

Regulation 31E to the Securities Regulations (Immediate Periodic Reports), 1970 Regulation 31(a) to the Securities Regulations (Immediate Periodic Reports), 1970 Regulation 31(b1) to the Securities Regulations (Immediate Periodic Reports), 1970 Regulation 32 to the Securities Regulations (Periodic and Immediate Reports), 1970 Nature of the Change:

Exercise of employee warrants, expiration of employee warrants, and partial redemption of BONDS (series 12 and 13) of the company.

Explanation: Please briefly describe the nature of the change.

Reference Numbers of Previous Reports on the Subject:
,,
1. The Company's Securities Structure After the Change:

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.

Name and Type of Security	Exchange Security Number	Quantity in Registered Capital	Issued and Paid Up Capital	Quantity Registered in Nominee Company Name
Ordinary Share	1101534	300,000,000	Previous Report: 168,022,779 Current: 168,079,827	72,785,335
BONDS Series 10'	1139245		Previous: 20,653,400 Current: 20,653,400	20,653,400
BONDS Series 11'	1139252		Previous: 142,126,800 Current: 142,126,800	142,126,800
BONDS Series 12'	1143080		Previous: 731,488,236 Current: 531,991,444	531,991,444
BONDS Series 13'	1189190		Previous: 470,169,250 Current: 420,677,750	420,667,750
Options for Shares (Unlisted)	1106038		Previous: 7,908,794 Current: 7,793,131	0
Restricted Share Units	1159052		Previous: 164,025 Current: 164,025	0

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

2. The corporation reports that:

From date: 01/12/2025 To date: 05/01/2026

There was a change in the quantity and register of the securities holders (including rights to purchase shares) of the corporation as a result of:

Exercise of employee warrants, expiration of employee warrants, and partial redemption of BONDS (series 12 and 13) of the company.

Explanation: All details of the transaction or action resulting in the change in the corporation's securities must be provided.

Details of Changes in Holdings

1. Registered Holder: The Tel Aviv Stock Exchange Registration Company Ltd.

ID type: Israeli Companies Registry Number

ID number: 515736817

Nature of Change: Other Exercise of options. Change Date: 31/12/2025

Executed via TASE Clearing House: Yes

Security Type/Name: Ordinary Share

Security Number: 1101534

Last reported balance: 72,728,287

Current balance after change: 72,785,335 Total quantity increased/decreased: 57,048 Is this a grant of rights to purchase shares: No

Was full consideration received: ☑️ Security fully redeemed and full consideration received.

2. Registered Holder: I.B.I. Capital Compensation and Trusteeships (2004) Ltd.

ID type: Israeli Companies Registry Number

ID number: 513540070

Nature of Change: Exercise of options

Change Date: 31/12/2025

Executed via TASE Clearing House: Yes

Security Type/Name: Options for shares (Unlisted)

Security Number: 1106038

Last reported balance: 7,908,794

Current balance after change: 7,793,708 Total quantity increased/decreased: 115,086 Is this a grant of rights to purchase shares: No

Was full consideration received: [ ] Security fully redeemed and full consideration received.

Other: ☑️ Other. Reason: Exercise of employee warrants.

3. Registered Holder: I.B.I. Capital Compensation and Trusteeships (2004) Ltd.

ID type: Israeli Companies Registry Number

ID number: 513540070

Nature of Change: Expiration Change Date: 31/12/2025

Executed via TASE Clearing House: Yes

Security Type/Name: Options for shares (Unlisted)

Security Number: 1106038

Last reported balance: 7,793,708

Current balance after change: 7,793,131 Total quantity increased/decreased: 577

Is this a grant of rights to purchase shares: No

Other: ☑️ Other. Reason: Expiration of employee warrants.

4. Registered Holder: The Tel Aviv Stock Exchange Registration Company Ltd.

ID type: Israeli Companies Registry Number

ID number: 515736817

Nature of Change: Other

Partial redemption of BONDS principal (series 12')

Change Date: 05/01/2026

Executed via TASE Clearing House: Yes Security Type/Name: BONDS (series 12')

Security Number: 1143080

Last reported balance: 731,488,236

Current balance after change: 531,991,444

Total quantity increased/decreased: 199,496,792 Is this a grant of rights to purchase shares: No

Other: ☑️ Other. Reason: Partial redemption of BONDS principal (series 12').

5. Registered Holder: The Tel Aviv Stock Exchange Registration Company Ltd.

ID type: Israeli Companies Registry Number

ID number: 515736817 Nature of Change: Other

Partial redemption of BONDS principal (series 13')

Change Date: 05/01/2026

Executed via TASE Clearing House: Yes Security Type/Name: BONDS (series 13')

Security Number: 1189190

Last reported balance: 470,169,250

Current balance after change: 420,677,750 Total quantity increased/decreased: 49,491,500

Is this a grant of rights to purchase shares: No

Other: ☑️ Other. Reason: Partial redemption of BONDS principal (series 13').

Explanations:

• 1. If the change affects more than one security, the effect of the change should be detailed in a separate line for each security.
• 1. Change date: All changes of the same type, in the same security, performed on one day should be summed in a single line. In this regard – distinguish between changes via the clearing house and those entered directly in the company records.
• 1. For a reduction, use the sign "-".
• 1. All quantity fields must show the amount of securities and not NIS par value.

3. Main Shareholders Register as at the Reporting Date

#	Shareholder	ID	ID	TASE Security	Share Class and	Share	Holds Shares as
	Name	Type	Number	Number	Par Value	Quantity	Trustee?
1							No

4. Attached is the file of the share registry in accordance with Section 130 of the Companies Law, 1999.

pdf.isa_סלקום_מרשם_בעלי_מניות_05-01-2026

alt: Cellcom shareholder registry file as of 05-01-2026.

5. Attached is an updated file of the company's securities registers, including the register of option holders and register of BONDS holders

pdf.isa_סלקום_מרשם_מחזיקי_ניע_05-01-2026

alt: Cellcom securities holders registry as of 05-01-2026.

List of Authorized Signatories Signing on Behalf of the Corporation

#	Name	Title
1	Larisa Cohen	Other VP Legal Counsel and Regulation

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

**This report does not include reference to the exercises of company stock options by employees and officers that took place during
---
### Previous reference numbers for the subject documents (mention is not a general incorporation by reference):
---
**Securities of the corporation are listed for trading on the Tel Aviv Stock Exchange**
Form update date: 06/08/2024
Short name:
**Address:** HaGavish 10, Netanya 4250708
Phone: 052-9989595, Fax: 09-8607986
**Email:** cellcom_sec@cellcom.co.il
**Previous names of reporting entity:**
---
**Electronic Signatory Name:** Cohen Larisa
**Position:** VP Legal Counsel and Corporate Secretary
**Company employed by:**
**Address:** HaGavish 10, Netanya 4250708
Phone: 052-9989595, Fax: 09-8607986
Email: larisaco@cellcom.co.il