El Al Israel Airlines Ltd.

Major Shareholding Notification • Jan 9, 2026

EL AL ISRAEL AIRLINES LTD

Company registration number: 520017146

To:

Israel Securities Authority

www.isa.gov.il

To: The Tel Aviv Stock Exchange Ltd.

www.tase.co.il

Form Number: T087 ( Public )

Transmitted via MAGNA: 09/01/2026

Reference Number: 2026-01-004395

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

Regulation 31e to the Securities Regulations (Periodic and Immediate Reports), 1970

Regulation 31(a) to the Securities Regulations (Periodic and Immediate Reports), 1970

Regulation 31(b1) to the Securities Regulations (Periodic and Immediate Reports), 1970

Regulation 32 to the Securities Regulations (Periodic and Immediate Reports), 1970

Nature of Change:

Allocation of shares and non-tradable warrants and exercise of warrants (Series 3)

Explanation: Please briefly describe the nature of the change.

Previous related report reference numbers:

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.
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1. The Securities Capital Structure of the Corporation after the Change:
Name and Type of Security Security Number Quantity in Registered Capital Issued and Paid-Up Capital (Most Recent Current)
Quantity Registered under Nominee Company Ordinary Share 1087824 1,875,000,000 555,812,080 556,059,626 556,059,034 Special State
Share 1087865 1 1 1 0 EL AL Warrant 3 1205467 33,637,518 33,756,321 33,637,518 33,637,518 EL AL Warrant 11/22 1191014 11,830,402 12,755,652 0
Explanation: All of the company's securities should be detailed, including securities not listed for trading.

2. The Corporation Announces That:

On date: 08/01/2026

A change occurred in the quantity and in the register of the holders of the corporation's securities (including rights to purchase shares) as a result of:

Description of the nature of the change: Allocation of shares and non-tradable warrants and exercise of warrants (Series 3)

Explanation: Please describe all material details of the transaction or action which caused a change in the corporation's securities.

Details of the changes (by security holder):

1

Registered holder affected: The Company for Registration of the Tel Aviv Stock Exchange Ltd.

ID Type: Registrar of Companies in Israel

ID Number: 515736817

Nature of change: Allocation to employees Date of change: 08/01/2026 Carried out via TASE clearing house: Yes
Type and name of security: EL AL Ordinary Share
Security number: 1087824
Holder's balance in last report: 555,811,488
Holder's balance after change: 555,940,231
Total amount increased/decreased: 128,743
Is this a grant of rights to purchase shares: No
Total consideration for securities issued:
Security number of the share resulting from exercise:
Amount of shares to result from full exercise:
Total additional proceeds to be received:
Period in which securities can be exercised:
From: To:
Will the allocated securities be listed for trading:

2

Registered holder affected: I.B.I. Benefit Plans (2000)

ID Type: Registrar of Companies in Israel

ID Number: 512907718

Nature of change: Allocation to employees Date of change: 08/01/2026 Carried out via TASE clearing house: No

The allocation is further to: ________ Published on: ________ Reference number: ________

Security paid up in full and full consideration received. [Checked]

version. For more information, please review the legal disclaimer.
Type and name of security: EL AL Warrant 11/22
Security number: 1191014
Holder's balance in last report: 11,830,402
Holder's balance after change: 12,755,652
Total amount increased/decreased: 925,250
Is this a grant of rights to purchase shares: No
Total consideration for securities issued:
etc. (all further details as above marked if empty in source)
Security paid up in full and full consideration received. [Checked]
3
Registered holder affected: The Company for Registration of the Tel Aviv Stock Exchange Ltd.
ID Type: Registrar of Companies in Israel
ID Number: 515736817
Nature of change: Exercise of warrants
Date of change: 08/01/2026 Carried out via TASE clearing house: Yes
Type and name of security: EL AL Ordinary Share
Security number: 1087824
Holder's balance in last report: 555,940,231 Holder's balance after change: 556,059,034
								Total amount increased/decreased: 118,803
Is this a grant of rights to purchase shares: No

Total consideration for securities issued: ________

etc. (all further details as above marked ________ if empty in source)

Security paid up in full and full consideration received. [Checked]

4

Registered holder affected: The Company for Registration of the Tel Aviv Stock Exchange Ltd.

ID Type: Registrar of Companies in Israel

ID Number: 515736817

Nature of change: Exercise of warrants

Date of change: 08/01/2026 Carried out via TASE clearing house: Yes

Type and name of security: EL AL Warrant 3

Security number: 1205467

Holder's balance in last report: 33,756,321 Holder's balance after change: 33,637,518 Total amount increased/decreased: 118,803 Is this a grant of rights to purchase shares: No Total consideration for securities issued: ________

etc. (all further details as above marked ________ if empty in source)

Security paid up in full and full consideration received. [Checked]

Explanations:

• 1. If the change affects more than one security, detail the impact of the change in a separate row for each security.
• 1. Date of change all changes of the same type, in the same security, performed in one day, should be summarized in one row. In this context – separate changes performed via TASE clearing house and those performed directly in the company's books.
• 1. For reduction, add the sign "-".
• 1. In all quantity fields, insert the quantity of securities, not NIS par value.

3. Main list of shareholders at reporting date is as follows:

No.	Name of registered	Type of	ID	Security	Type and par	Number of	Holds shares
	shareholder	ID	Number	Number	value of shares	shares	as Trustee
1

4. Attached is a file of the share register in accordance with section 130 of the Companies Law, 1999:

pdf.isa\_מרשם\_בעלי\_מניות\_080126

Alt text: Shareholders Register PDF

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

pdf.isa\_מרשם\_ניירות\_ערך\_0812026

Alt text: Securities Register PDF

Authorized Signatories for the Corporation:

No.	Signatory Name	Role Type	Detailed Role
1	Sharon Braunstone-Zeit	Other	VP, Chief Legal Counsel of the Company
2	Inbal Carmi	Other	Company Secretary

Explanation: According to Regulation 5 to the Periodic and Immediate Reports Regulations (1970), a report submitted under these regulations shall be signed by those authorized to sign on behalf of the corporation. Staff position on this matter can be found on the Authority's website: Click Here

Previous names of the reporting entity:

Electronic Reporter Name: Meitalman Nahum Role: Legal Counsel Employing Company Name:

Address: P.O. Box 41, Ben Gurion Airport, Zip Code: 70100 Phone: 03-9716713 Fax: Email: nahumm@elal.co.il

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

Short Name: EL AL

Company address: P.O. Box 41, Ben Gurion Airport, Zip Code 70100 Tel: 03-9716202, 03-9716203 Fax: 03-9717334 Email: CORPORATE@ELAL.CO.IL

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.

Form structure update date: 06/08/2024

End of document