El Al Israel Airlines Ltd.

Major Shareholding Notification • Jan 4, 2026

EL AL ISRAEL AIRLINES LTD

Company number: 520017146

To:

• Israel Securities Authority
• Tel Aviv Stock Exchange Ltd.

Form Number: T087 (Public)

Sent via MAGNA: 04/01/2026

Reference: 2026-01-001271

Register of Capital, Granting of Rights to Purchase Shares, and Corporate Securities Registers and Changes Thereto

Regulations referenced:

• Securities Regulations (Periodic and Immediate Reports), 1970, Regulation 31E
• Securities Regulations (Periodic and Immediate Reports), 1970, Regulation 31(a)
• Securities Regulations (Periodic and Immediate Reports), 1970, Regulation 31(b1)
• Securities Regulations (Periodic and Immediate Reports) 1970, Regulation 32

1. Nature of the Change

Description: Exercise of warrants (Series 3), exercise of options for employees, and expiration of options.

Explanation: Please briefly describe the nature of the change.

2. Reference numbers of previous reports on this matter:

(not specified)

1. Securities Register of the Corporation after the Change:

Security Name & Type	TASE Number	Amount in Registered Capital	Issued and Paid-up Capital: Previous Report	Issued and Paid-up Capital: Current Amount	Amount Registered by Nominee Company
Ordinary Share	1087824	1,875,000,000	554,430,305	554,859,288	554,858,696
Special State Share	1087865	1	1	1	0
EL AL Warrant 3	1205467	34,709,113	34,710,713	34,709,113	34,709,113
EL AL Warrant 11/22	1191014	(not specified)	12,984,666	11,830,402	0

Explanation: All company securities must be detailed, including unlisted securities.

2. The Corporation Notifies That:

On: 01/01/2026 (change date)

There has been a change in the number and register of security holders (including rights to purchase shares) of the corporation as a result of:

Description: Exercise of warrants (Series 3), exercise of options for employees, and expiration of options.

Explanation: Please describe the full details of the transaction or action that led to the change in the corporation's securities.

Table: Details of the Change by Security Holder

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.

1. Holder: The Nominee Company of the Tel Aviv Stock Exchange Ltd. (Company No. 515736817)

Nature of Change: Exercise of options

Change Date: 01/01/2026

Processed via TASE Clearinghouse: Yes Security Type & Name: EL AL Ordinary Share

TASE Number: 1087824

Balance at Last Report: 554,429,713 Balance after Change: 554,431,313

Total increase/decrease in securities: 1,600

Grant of stock purchase rights: No

The security was fully paid and consideration was fully received

2. Holder: The Nominee Company of the Tel Aviv Stock Exchange Ltd. (Company No. 515736817)

Nature of Change: Exercise of options

Change Date: 01/01/2026

Processed via TASE Clearinghouse: No Security Type & Name: EL AL Warrant 3

TASE Number: 1205467

Balance at Last Report: 34,710,713 Balance after Change: 34,709,113

Total increase/decrease in securities: 1,600

Grant of stock purchase rights: No

The security was fully paid and consideration was fully received

1. Holder: The Nominee Company of the Tel Aviv Stock Exchange Ltd. (Company No. 515736817)

Nature of Change: Exercise of options

Change Date: 01/01/2026

Processed via TASE Clearinghouse: Yes Security Type & Name: EL AL Ordinary Share

TASE Number: 1087824

Balance at Last Report: 554,431,313 Balance after Change: 554,858,696

Total increase/decrease in securities: 427,383

Grant of stock purchase rights: No

The security was fully paid and consideration was fully received

4. Holder: I.B.I Beneficiary Plans (2000) (Company No. 512907718)

Nature of Change: Exercise of options

Change Date: 01/01/2026

Processed via TASE Clearinghouse: Yes Security Type & Name: EL AL Warrant 11/22

TASE Number: 1191014

Balance at Last Report: 12,984,666 Balance after Change: 12,451,333

Total increase/decrease in securities: 533,333

Grant of stock purchase rights: No

The security was fully paid and consideration was fully received

5. Holder: I.B.I Beneficiary Plans (2000) (Company No. 512907718)

Nature of Change: Expiration Change Date: 01/01/2026

Processed via TASE Clearinghouse: No Security Type & Name: EL AL Warrant 11/22

TASE Number: 1191014

Balance at Last Report: 12,451,333 Balance after Change: 11,830,402

Total increase/decrease in securities: 620,931

Grant of stock purchase rights: No

The security was fully paid but marked as 'Other'.

Explanation: Expiration of options

Explanations:

• 1. If the change affects more than one security, the impact must be detailed in a separate row for each security.
• 1. Change Date All changes of the same type, for the same security, carried out on the same day, should be summarized in one row. In this regard, changes via TASE Clearinghouse should be distinguished from changes made directly in the company books.
• 1. For a decrease, add the sign "-".
• 1. All quantity fields should specify the number of securities, not NIS par value.

Additional Notes

(There is a section for changes only in the register of security holders without change in the number of securities — left blank in this report).

3. Main Shareholder Register as of the Reporting Date

(No shareholders specified in this section)

1. Attached: File of the Shareholder Register in accordance with Section 130 of the Companies Law, 1999

Alt text: Shareholder Register PDF file as of 01/01/2026

5. Attached: Updated file of the corporation's securities registers, including the register of warrant holders and bondholders

Alt text: Securities Register PDF file as of 01/01/2026

Authorized Signatories for the Corporation:

No.	Name	Position
1	Sharon Braunstone-Zait	Other; Deputy CEO, Company Legal Counsel
2	Inbal Carmi	Other; Company Secretary

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

Previous Document References:

(none listed)

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

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.

Last form layout update: 06/08/2024

Abbreviated name: EL AL

Address: P.O. Box 41, Ben Gurion Airport, 70100

Phone: 03-9716202, 03-9716203

Fax: 03-9717334

Email: CORPORATE@ELAL.CO.IL

Previous reported entity names:

Electronic reporter's name: Nahum Meitlman

Position: Legal Advisor Email: nahumm@elal.co.il Address: P.O. Box 41, Ben Gurion Airport, 70100 Phone: 03-9716713