Fattal Holdings

Investor Presentation • Dec 3, 2025

Disclaimer

This presentation is not the Company's offer of securities to the public and should not be interpreted as an offer of securities to the public. The presentation constitutes the Company's principal and marketing presentation. The information included in this presentation and any other information that shall be delivered during this presentation (hereinafter: "the Information") does not constitute a recommendation or an opinion of an investment consultant or a tax consultant. The Information is only condensed information. Investment in securities, in general, and in the Company in particular, carries risk. You should take into account that past data does not necessarily indicate future performance. The purchase of the Company's securities requires an in-depth review of the information published by the Company and a legal, accounting, taxation and economic analysis thereof.

Data regarding: (i) the concentration of the number of hotels and the number of rooms according to ownership/lease/management in the segmentation as of September 30, 2025 (including weighted number of active rooms in the segmentation); (ii) The existing debt for hotels that have not yet contributed a full year; (iii) financial data for the third quarter of 2025, by segmentation, including the Company's share of affiliated companies and before the impact of the implementation of the IFRS16 standard; (iv) EBITDA segmentation from identical assets; (v) distribution of revenues and EBITDAR, including the Company's share of affiliated companies (according to segmentation in the third quarter of 2025); and (vi) total net debt of the Company (including debt for hotels that have not yet contributed a full year), including its share in affiliated companies as of September 30, 2025; in Slides No. 5, 6, 12, 14, 15, 16, 19, 20 and 21 are provided in this presentation for the first time as additional information.

It should be noted that as of this date, the Company's estimates as stated in Slide No. 27 below with regard to forecasts of revenue, EBITDAR, EBITDA and FFO for 2025, are forward-looking information, as defined in the Securities Law, 5728-1968 (hereinafter: the "Securities Law"), which is based on the assessments of the Company's Management and its understanding of the factors affecting its business activity, as of the date of the signing of the Report. These assessments may not materialize, in whole or in part, or may be realized differently, including materially, than expected, inter alia and without derogating from the generality of the aforesaid, as a result of non-optimal assumptions and analyses, from developments that cannot be assessed with regard to a significant deterioration in economic or financial conditions in Israel and/or abroad and/or developments that cannot be fully assessed in connection with the escalation of hostilities in the southern arena and/or the resumption of fighting in other arenas and/or the materialization of all or some of the risk factors detailed in Section 1.22 of Chapter A ("Description of the Business of the Corporation") attached to the Company's 2024 Periodic Report, which was published on March 27, 2025 [Reference Number 2025-01-021117] (this information constitutes inclusion by way of reference).

Fattal Group Overview

1998

Established

21

Countries

315

Hotels¹

55,466

Rooms¹

Balance of cash and securities ² – NIS 892 million

About 80% of activities in Europe

Rating: A2.il Stable

¹ As of the publication date of the report. The figure includes future hotels.

² As of September 30, 2025.

The Company continues to expand its operations while delivering strong business results

Net financial debt to EBITDA³ratio - 3.64

Focus on efficiency and expense control

619

NIS million Record

EBITDA1,2 for the quarter

419

NIS million Total Comprehensive Income for the quarter 967

NIS million Record

EBITDAR¹for the quarter

410

NIS million RecordFFO for the quarter

2.5

NIS billion Record Revenues¹for the quarter

243

NIS million

Net Profit²for the quarter

³The net debt ratio, excluding investment in affiliates to EBITDA, reflects the Company's debt that contributed to the EBITDA, as debt incurred for investments and/or loan to affiliates is reflected in the profit and loss as equity gains/losses.

¹ Including the Company's share in affiliated companies.

² Prior to the Impact of Standard IFRS 16.

Number of Hotels ¹ - Diverse Mix

5

Number of Rooms 1 , 2 – Diverse Mix

¹ As of 30.09.25 including 20 future hotels in Israel (2,809 rooms), 19 future hotels in Europe (4,153 rooms), 3 future hotels in UK (646 rooms) and 5 future hotels in Greece & Cyprus (541 rooms). ² As of 30.09.25 the weighted number of active rooms in Israel (7,805 rooms), Europe (19,147 rooms), the UK (11,860 rooms) and Greece & Cyprus (1,861 rooms).

Fattal Hotel Group Global Presence^1,2

Countries

137 Cities

10 Cyprus

^<sup>1Including future hotels.

^<sup>2 As of November 2025.

Group Average Daily Revenue per Room -ADR¹ )NIS(

Dealing with the Effects of Inflation and Rising Expenses The data includes the currency effect

Group Average Occupancy Rate by Region1,2

¹ Including the Company's share in affiliated companies.

² Occupancy rates in Israel in 2024 include occupancy from hosting evacuees.

Hotel Partnerships in Europe - Growth Engine

Partnership 2

Total

19 Hotels in 8 Countries 3,387 Rooms

04.2022 Established

Results

Fattal Group's share of the Partnership's EBITDA 2024 17.1

(Millions of euros)

Forecast of the Company's share of the Partnerships' EBITDA 2025

≈ 23

Approx. € 804 million Total cost of acquisitions and investments as of 09.25

Approx. € 925 million Value of hotels acquired as of 09.25

Partnership 3

Total

32 Hotels in 8 Countries 4,448 Rooms

Results (Millions of

euros)

Fattal Group's share of the Partnership's EBITDA 2024

Forecast of the Company's share of the Partnerships' EBITDA 2025

≈ 21

8.4

Approx. € 807 million

Total cost of acquisitions and investments as of 09.25¹

Approx. € 1,200 million Forecast property portfolio (assuming leverage)

The Presence of Partnership Hotels

51

Hotels

Looking Ahead - Opening Hotels in the Coming Years¹

(excl. Partnerships' hotels in Europe)

Total

6,692 40 Hotels

≈ NIS 270 million

Additional EBITDA from new hotels

≈ NIS 1 billion

Expected total investment in coming years

≈ NIS 1.6 billion

The existing debt for hotels that have not yet contributed a full year

Rooms

¹ Investment amounts shown are from 30.09.25 onwards. The amounts are in millions

^* Partially owned hotels | ** 8 hotels of which are partially owned (1,374 rooms) | *** Including a managed hotel

Financial Results 30.09.25

Main Financial Data – Revenues¹ (NIS millions)

Q3

Results – Q3

Main Financial Data – EBITDAR¹ (NIS millions)

Main Financial Data – EBITDA¹

(NIS Millions) Prior to the Impact of Standard IFRS 16

Revenue breakdown from the same assets (NIS Millions) – Q3

EBITDAR breakdown from the same assets (NIS Millions) – Q3

EBITDA breakdown from the same assets (NIS Millions) – Q3

6%

Revenue Split Q3/2025

EBITDAR Split Q3/2025

Key Debt Metrics (NIS millions)

≈ NIS 11,324 million

The total debt of the Company includes its share in affiliated entities as of 30.09.2025

Financial Ratios¹ (NIS Millions)

The Company meets all its covenants

²The net debt ratio, excluding investment in affiliates to EBITDA, reflects the Company's debt that contributed to the EBITDA, as debt incurred for investments and/or loan to affiliates is reflected in the profit and loss as equity gains/losses.

¹ The calculations and terms are as defined in the Trust Deed - except for the debt ratio excluding investment in affiliates to EBITDA. See Section 2 below.

Consolidated Balance Sheet (NIS millions)

	Sep-25		Sep-25	Sep-24	Dec-24
	Data prior to implementatio n of IFRS 16	Impacts of IFRS 16	As shown in the Financial Statements
Current Assets	2,081	)74(	2,007	1,797	1,437
Long Term Investments and Other Assets	4,043	12,308	16,351	18,391	16,914
Fixed Assets	11,849	)43(	11,806	10,319	10,148
Total Assets	17,973	12,191	30,164	30,507	28,499
Short Term Credit	2,215	-	2,215	1,390	1,187
Other Current Liabilities	1,412	509	1,921	1,953	1,716
Loans and Bonds – Long Term	6,963	-	6,963	6,791	6,822
Deferred taxes	894	-	894	850	843
Others	451	13,111	13,562	15,276	13,781
Total Liabilities	11,935	13,620	25,555	26,260	24,349
Shareholders' Equity	6,038	)1,429(	4,609	4,247	4,150
Total Liabilities and Equity	17,973	12,191	30,164	30,507	28,499

Consolidated Profit and Loss Statement (NIS million)

	1-9/25			1-9/24	1-12/24
	Data prior to implementation of IFRS 16	Impacts of IFRS 16	As shown in the Financial Statements
Revenues from Hospitality Services and Others	5,785	-	5,785	5,588	7,444
Total Operating Expenses	3,834	-	3,834	3,505	4,719
Operating income before rent, depreciation and reductions (EBITDAR)	1,951	-	1,951	2,083	2,725
Total Rent	1,136	)1,019(	117	106	138
Operating income before depreciation and amortization (EBITDA)	815	1,019	1,834	1,977	2,587
Depreciation	)339(	)594(	)933(	)924(	)1,242(
Other Income, Net	4	-	4	241	231
Profit before Financing	480	425	905	1,294	1,576
Financing Expenses, Net	)238(	)566(	)804(	)867(	)1,130(
Group's Share in the Subsidiaries' Earnings (Losses)	)10(	6	)4(	)69(	)96(
Tax Benefit (Tax Expenses )	)64(	16	)48(	)49(	)72(
Net Income (loss)	168	)119(	49	309	278
Total Comprehensive Income (loss)	575	)119(	456	933	834
Real FFO	569	-	569	696	925

Consolidated Profit and Loss Statement (NIS million)

		7-9/24
	Data prior to implementation of IFRS 16	Impacts of IFRS 16	As shown in the Financial Statements
Revenues from Hospitality Services and Others	2,307	-	2,307	2,199
Total Operating Expenses	1,404	-	1,404	1,316
Operating income before rent, depreciation and reductions (EBITDAR)	903	-	903	883
Total Rent	408	)340(	68	70
Operating income before depreciation and amortization (EBITDA)	495	340	835	813
Depreciation	)116(	)203(	)319(	)319(
Other Income )expenses), Net	)7(	-	)7(	243
Profit before Financing	372	137	509	737
Financing Expenses, Net	)109(	)189(	)298(	)311(
Group's Share in the Subsidiaries' Earnings (Losses)	22	2	24	)29(
Tax Benefit (Tax Expenses )	)42(	)11(	)53(	)51(
Net Income (loss)	243	)61(	182	346
Total Comprehensive Income (loss)	480	(61)	419	631
Real FFO	410	-	410	398

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Forecast 2025

Looking Ahead³

The forecast was updated in August 2025, in light of the fact that the previous forecast had been prepared in March 2025, when it was assumed that inbound tourism in the Israeli sector would return during the second half of 2025. The updated forecast takes into account that inbound tourism will return to Israel in 2026, and the impact of the Israel – Iran war on the Company's results.

Factors for continued growth in 2025:

New hotels, partnerships activities and revenue growth while maintaining profitability.

^&lt;sup>1 Including the Company's share in affiliated companies.

^&lt;sup>2 Prior to the Impact of Standard IFRS 16.

^&lt;sup>3 For details of the main assumptions for the forecast, see the company's BOD report for 30.09.25