GTC - Globe Trade Centre S.A. — Capital/Financing Update 2019

Feb 14, 2019

Midroog assigned A2.il rating with a stable outlook for repaymentcapability of debt that Globe Trade Centre S.A. might raise in Israel,in the amount of up to € 70 million.

The Management Board of Globe Trade Centre S.A. ("Company"), herebyannounces that on 14 February 2019, Midroog (Israel-based credit ratingagency accredited by the State of Israel) assigned an A2.il rating witha stable outlook for repayment capability of debt that the Company mightraise in Israel, in the amount of up to € 70 million.

According to Midroog Long Term Rating Scale, the assigned A2.il ratingreflects that in Midroog's judgment, the Company has relatively highrepayment capability for such debt, relative to other local issuers inIsrael.

A stable outlook reflects low expectations of a rating change over themedium term. Specifically, for the Company a stable outlook reflectsMidroog's assessment, whereby the Company would continue to operate inthe income producing asset segment in major cities in Central EasternEurope, maintaining current occupancy rates and stable financial ratios,with development of new income producing assets not to exceed 15%-20% oftotal assets for the Company.

The rating is a local investment rating for debt to be issued in Israel.

Definitions of Midroog's ratings are available at the following websiteof Midroog: www.midroog.co.il, where Midroog also discloses ratings,criteria and methodology.

Legal grounds:§ 17(1) of Regulation (EU) No 596/2014 of theEuropean Parliament and of the Council of 16 April 2014 on market abuse(market abuse regulation) and repealing Directive 2003/6/EC of theEuropean Parliament and of the Council and Commission Directives2003/124/EC, 2003/125/EC and 2004/72/EC - inside information.

Neither this current report nor the ratings issued by Midroogconstitute a recommendation to buy, hold, and/or sell securities and/orother financial instruments issued or relating to the Company and/ormake any other investment and/or forgo any of these actions.

Neither this current report nor the ratings issued by Midroogconstitute investment advice and/or financial advice, nor do theyaddress the appropriateness of any given investment for any specificinvestor, in particular retail investors. Each potential investor shouldseek and obtain professional advice in respect of his/her investments.

This current report is neither an offer of securities for sale, nor asolicitation of an offer to purchase/subscribe for securities, in anyjurisdiction.