Elco Ltd.

Share Issue/Capital Change • Dec 4, 2025

December 4, 2025

To: To:

Israel Securities Authority Tel Aviv Stock Exchange Ltd.

(via MAGNA) (via MAGNA)

Dear Sir/Madam,

Re: Electra Ltd. (the Company) – Immediate Report Regarding Results of Issuance According to Shelf Offering Report

The Company is honored to hereby notify, in accordance with Section 30 of the Securities Law, 1968, and according to the Securities Regulations (Notice of the Results of the Offer in the Prospectus), 1969, regarding the results of the issuance according to the Company's shelf offering report dated December 3, 2025 (reference number: 2025-01-096295) (the Offering Report).

1.

According to the Offering Report, the Company offered to the public up to NIS 271,094,000 par value of Series 14 Bonds of the Company by way of expanding the series (Series 14 Bonds), which were offered in 271,094 units, each containing NIS 1,000 par value of Series 14 Bonds (Bond Units (Series 14) or the Units), by way of a tender for the unit price which would not be less than NIS 1,053.5 per unit (the Tender and the Minimum Unit Price for Series 14 Bonds, as applicable), all subject to the terms detailed in the Offering Report. Notwithstanding the above, it should be noted that under the Offering Report, the Company determined that in any case it would not issue more than NIS 225,000,000 par value of Series 14 Bonds, even if total demand in the public tender exceeds this amount (see Section 1.1 of the Offering Report).

2.

The Company received advance commitments from classied investors to purchase Bond Units (Series 14), in amounts and unit prices as detailed in the Offering Report.

3.

The offer of Series 14 Bonds was not underwritten.

4.

Below are the tender results for Series 14 Bond Units, held on December 4, 2025:

4.1.

In the tender, a total of 38 orders were received for the purchase of 225,001 Bond Units (Series 14), of which 1 order was received from the public for 1 unit and 37 orders were received for 225,000 units according to advance commitments from classied investors. The allocation of Bond Units (Series 14) was made in accordance with Section 5.4 of the Offering Report, such that all the aforesaid orders were lled in full (but subject to the amount of Series 14 Bonds and the allocation rate indicated in Section 4.2 below).

4.2.

As detailed and pursuant to Section 1.1 of the Offering Report, and as the demand in the tender exceeded NIS 225,000,000 par value of Series 14 Bonds, the Company is pleased to notify as follows:

4.2.1.

As part of the issuance according to the Offering Report, the Company will issue a total of NIS 225,000,000 par value of Series 14 Bonds (in 225,000 units) (herein in Section 4.2: the quantity issued to the public as determined by the Company). Accordingly, the excess amount (as dened in Section 1.2 of the Offering Report) is NIS 1,000 par value of Series 14 Bonds.

4.2.2.

Issuance of units in the amount of the excess (only) will not be carried out and no funds will be collected from bidders for the excess (only).

4.2.3.

The allocation to bidders whose orders were accepted in the tender as detailed in Section 4.1 above will be made in proportion (pro-rata) to the quantity issued to the public as determined by the Company, relative to the actual demand for the Bonds (as stated in Section 4.1 above), so that each bidder whose application was accepted based on the tender results (as stated in Section 4.1 above) will be allocated approximately 99.99% of the entitled allocation (225,000,000/225,001,000).

4.3.

The price per Series 14 Bond Unit as set in the public tender is NIS 1,053.5, which is the minimum price per Series 14 Bond Unit (the uniform price per Series 14 Bond Unit).

2024-06-18

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• 4.4. The allocation of Series 14 BONDS units was made in accordance with Section 5.4 of the offer report as follows:
• 4.4.1. 35 orders for the purchase of 188,091 units of Series 14 BONDS (all of which were orders from classied investors), in which

the price per unit was set above the uniform price for a unit of Series 14 BONDS, were fully accepted.

4.4.2. 2 orders from classied investors for the purchase of 36,909 units of Series 14 BONDS, in which the price

was set at the uniform price per unit of Series 14 BONDS, were partially accepted, such that each classied investor will receive approximately 99.99%

of their order.

• 4.4.3. 1 public order to purchase 1 unit of Series 14 BONDS, at the uniform price per unit of Series 14 BONDS, was fully accepted.
• 4.5. As of the date of the report, the adjusted value (principal, interest, and linkage differentials) of each 1 NIS par value of Series 14 BONDS

is 100.07 agorot. The Series 14 BONDS to be issued according to the offer report will be issued at a price of 1.0535 NIS for each 1 NIS

par value of Series 14 BONDS (which is higher than their aforementioned adjusted value), and therefore without discount.

4.6. It should be noted that the Series 14 BONDS in circulation, which were rst issued according to the shelf offering report published by the company

on June 17, 2024¹, were issued without discount and accordingly no discount shall apply to any Series 14 BONDS.

• 4.7. For details regarding taxation of Series 14 BONDS, see Section 8 of the offer report.
• 4.8. The company will allocate, according to the results of the tender, a total of 225,000 Series 14 BOND units, which will include a total of

225,000,000 NIS par value of Series 14 BONDS.

4.9. The total gross consideration the company will receive for the Series 14 BONDS to be allocated according to the offer report amounts

to approximately 237 million NIS.

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

Respectfully,

Electra Ltd.

Names of signatories:

Daniel Zalkind, Director and Co-CEO

Eliezer Vasli, CFO

¹ As published on June 17, 2024 (Reference number: 2024-01-061584).