GAV-YAM Lands Corp. Ltd. — Capital/Financing Update 2026

May 19, 2026

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. .

May 19, 2026

Gav-Yam Lands Corporation Ltd. (the "Company")

To

Securities Authority

Via MAGNA

To

Tel Aviv Stock Exchange Ltd.

Via MAGNA

Dear Sir/Madam,

Subject: Results of BONDS issuance according to a Shelf Offering Report dated May 19, 2026

In accordance with Section 30 of the Securities Law, 1968-5728 and the Securities Regulations (Notice of Results of the Offering in a Prospectus), 1969-5730, the Company is pleased to report the results of the issuance according to the Company's Shelf Offering Report dated May 19, 2026 (reference no.: 2026-01-046089) (hereinafter: the "Shelf Offering Report"), published pursuant to the Company's shelf prospectus dated May 9, 2025, as published on May 8, 2025 (reference no.: 2025-01-032469) (hereinafter: the "Prospectus").

1. According to the Shelf Offering Report, BONDS were offered to the public in a uniform offer, through two separate tenders, as follows:

1.1. Up to 555,944,000 NIS par value BONDS (Series 8), registered in name, offered in 555,944 units, by way of series expansion, in a tender for the unit price, at a price no less than 938 NIS per unit, where the composition and price of each unit are as follows:

1,000 NIS par value BONDS (Series 8)	938 NIS
Total price for one unit	938 NIS

1.2. Up to 1,014,614,000 NIS par value BONDS (Series 12), registered in name, offered in 1,014,614 units, by way of series expansion, in a tender for the unit price, at a price no less than 1,059 NIS per unit, where the composition and price of each unit are as follows:

1,000 NIS par value BONDS (Series 12)	1,059 NIS
Total price for one unit	1,059 NIS

The subscription lists for purchasing the units offered to the public opened on Monday, May 19, 2026, at 11:00 AM and closed on the same day at 6:00 PM.

1. The following are the results of the tender held on May 19, 2026:

2.1. Tender for the purchase of BONDS (Series 8):

2.1.1. Within the framework of the tender, a total of 36 orders were received for the purchase of 479,027 units, all of which were received within the framework of a prior commitment of classified investors to purchase units as aforesaid (as detailed in Section 5.2 of the Shelf Offering Report), at a total monetary value of approximately 449.30 million NIS.
2.1.2. In accordance with Section 1.1.2 of the Shelf Offering Report, the maximum issued quantity stands at 479,027,000 NIS par value BONDS (Series 8) (hereinafter regarding BONDS (Series 8): the "Issued Quantity")

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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. .

Maximum"), and therefore the amount of the excess sum (as defined in the Shelf Offering Report) that was not allocated is 0 NIS par value, and the allocation rate for all subscribers stood at approximately 100%.

2.1.3 The unit price determined in the tender is 938 NIS (hereinafter regarding BONDS (Series 8): "Unit Price Set" or "Closing Price").

2.1.4 In accordance with the terms of the offer, 479,027 units were allocated, as follows:

(1) 27 orders from classified investors for the purchase of 359,437 units, in which a price higher than the closing price was specified, were fully answered.

(2) 9 orders from classified investors for the purchase of 119,590 units, in which the closing price was specified, were fully answered.

(3) No orders were received from the public in which the closing price was specified.

2.1.5 In light of the above, the Company will issue 479,027,000 NIS par value BONDS (Series 8).

2.1.6 BONDS (Series 8) will be issued at the Unit Price Set, which is below their adjusted value as of this date, i.e., they will be issued at a discount at the rate of 7.1641%.

2.1.7 In accordance with Section 7.1 of the Shelf Offering Report, the weighted discount rate for the entire series of BONDS (Series 8) will stand at 5.3911%.

2.2 Tender for the purchase of BONDS (Series 12):

2.1.8 Within the framework of the tender, a total of 72 orders were received for the purchase of 916,668 units, all of which were received within the framework of a prior commitment of classified investors to purchase units as aforesaid (as detailed in Section 5.3 of the Shelf Offering Report), at a total monetary value of approximately 970.80 million NIS.

2.1.9 In accordance with Section 1.2.2 of the Shelf Offering Report, the maximum issued quantity stands at 916,668,000 NIS par value BONDS (Series 12) (hereinafter regarding BONDS (Series 12): "Maximum Issued Quantity"), and therefore the amount of the excess sum (as defined in the Shelf Offering Report) that was not allocated is 0 NIS par value, and the allocation rate for all subscribers stood at 100%.

2.1.10 The unit price determined in the tender is 1,059 NIS (hereinafter regarding BONDS (Series 12): "Unit Price Set" or "Closing Price").

2.1.11 In accordance with the terms of the offer, 72 units were allocated, as follows:

(4) 69 orders from classified investors for the purchase of 811,668 units, in which a price higher than the closing price was specified, were fully answered.

(5) 3 orders from classified investors for the purchase of 105,000 units, in which the closing price was specified, were fully answered.

(6) No orders were received from public subscribers in which the closing price was specified.

2.1.12 In light of the above, the Company will issue 916,668,000 NIS par value BONDS (Series 12).

2.1.13 BONDS (Series 12) will be issued at the Unit Price Set, which is above their adjusted value as of this date, and therefore without discount and the discount rate of the entire series of BONDS (Series 12) will be 0.

1. The total gross immediate consideration to the Company within the framework of the public offering totals approximately 1.42 billion NIS.

The Company thanks the subscribing public for their response to the offer according to the Shelf Offering Report.

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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.

Sincerely,

Gav-Yam Lands Corporation Ltd.

Signed by: Natalie Mishan-Zakai, CEO
Mark Zak, CFO

5/19/2026 | 5:56:10 PM | v1.2.5