Israel Canada (T.R) Ltd.

Annual Report • Dec 25, 2025

Forward-looking information

Itshould be emphasized thatthe data providedforthe projectsdetailedin this presentation(slides3-7, 9-20, 22, 24-31, 33-34, 40-54) including the Company'sestimatesin relationto the projectedrevenuefigures, unrecognized gross profit,expected management fees, projectedand representativeEBITDA,proceedsfrom sales, marketing commissions, projectsimulations and estimated start and end dates of the projects,estimate of constructioncosts, projectedrents, projectedloan balance, projected cash withdrawal dates, as well as all the assumptions included in this presentation in connection with the Company'sintention regarding the relevantprojects,including the assumptions containedin the slides which include the summary of data in relationto a certainsector,are forward-looking information,as defined in the SecuritiesLaw, 5728-1968, the realizationof whichis not certainand is not underthe controlofthe Companyand/or corporationsunderits controlonly, and is based, inter alia,on the experienceof the Companyand its partnersin the said projectsand the business plans of the companiesholding the aforementionedprojects,including the realizationof the group'sinventoryat the pricespredictedby it.

These parameterslargely depend on externalfactors,such as obtaining the necessarypermitsfor carrying out the projects, including land use changesforthe Company'slands(bothin theirreceiptand in theirreceipton the timelineprojectedby the Companyand its projectpartners),meeting the requirementsof various authoritiesand the issuanceof relevantpermits by them; cooperationamong thepartners,decisionsmade by them during theprojectestablishmentstage, and theprovisionof the requiredequityby them

(includingby the Company)accordingto the agreementssigned; in the partners'compliancewith the terms of the financing agreements signed in connectionwith the relevantprojects(including the provision of equity capital)and in avoiding the grounds for immediate repayment stipulated therein; entering into financing agreements for projects whose implementation has not yet begun; in contracting with a contractorand other suppliers to carry out the projectswhose executionhas not yet begun and at the costs predicted for this by the Company,which are based on the current market conditions; in the regulationthatmay apply tothe organizersof purchasegroups and/or change and/orthe tightening ofthe regulation in the various areas of the Company'sactivity; in the actual constructionand financing costs at the time of their formation (which may change compared to the costs predicted by the Company, including a substantial change), in maintaining the levels of sales prices that currently prevail in the real estate market (which may experience a change, including a substantialchange, among otherthings in light of changesin the economicenvironmentin which the Company operates,including the Iron SwordsWarand the Rising Lion War,including the impact on the hotelsector,and, among other things, in light of frequentchangesin the taxationregulation),as well asin the decisionsofthe authoritiesin connectionwith the approvalof land zoning plans; in enteringintoleaseagreementswiththird partiesin the Company'sprofitableprojectsin maintaining the currentpricelevel,including in the hotelsector- and thereis no certaintythatthis willbe the casein practice. Thesefactorsmay significantlychange.

The Company's estimates detailed above. According to the Company's assessment, as of this date, the main factorsthatmay preventthe realizationofthe forward-looking informationinclude: no change in the land use of the Company'slands according to the intentions of the Company and its partners; the inability to construct projectsor delaysin their constructiondue to variousreasonssuch as not meeting the authorities'requirements for obtaining permits and/or not receiving appropriatepermits for the projects or receiving them later than anticipated by the Company; failure of the partners to comply with the financing agreements signed in connectionwith the relevantprojects(including the provision of equity)or the occurrenceof any grounds for immediate repaymentstipulatedin these agreements,which could lead to a requestto immediately repay the loans provided; failure of the Company to enter into financing agreements for the relevantprojects; financial difficulties encountered by the executing contractor or other suppliers involved in the projects; financial difficulties encounteredby any of the investors and/or partners of the Company in the relevant projectsthat preventthem from continuing to financetheirshare in the projects; deviationsfrom the expectedprojectscope that may result from increased construction costs (including a shortage of manpower and increase in raw materialcosts),taxes,and/orleviesimposedon land acquisitionand development,etc.;

Deteriorationin the economic environment,including the consequencesof the Iron SwordsWarand the Rising Lion War,whichwill adverselyaffectthe priceenvironmentin which the Companyoperatesin a manner that will lead to a decreasein the sales volume forecastby the Company,a decreasein the gross profitindicatedby the Companyin this presentation,and willalsoaffectthe hotelsector,including occupancyratesand accommodation prices,whichwilladverselyaffectthe forecastedand representativeEBITDA,

Failure to enter into rental agreements in the relevant projects and/or a decrease in rental prices for offices and/or commerce, which may affect the Company's forecasts. Thus, there is no certainty that the above informationwillmaterializeand itmay evenbe significantlydifferentfrom theabove.

Itshould be notedthatslides6, 27and 51includenewinformationpublished by the Companyin this presentation forthefirsttime.

Itshould be emphasizedthattheinformationmentionedin thepresentationbelowmay notmaterialize,in whole orin part,or materializein a materiallydifferentwaythan that predictedby the Company,both in relationto the Company'sforecastsregarding themacrofactorsand in relationtotherestofthedatastatedtherein.

Legal Clarification

The purposeof this presentationisto presentIsraelCanada(T.R.) Ltd. (hereinafter: the "Company"),its activities,and financialresults. It doesnot constitutean offerto purchaseorsellthe Company'ssecuritiesor an invitationto receivesuch offersand isintendedforthe provisionof informationonly.

Theinformationpresentedin thepresentationisforpurposesof convenienceonlyand doesnotconstitutea basisformaking investmentdecisions,doesnotreplacethecollectionand analysisofindependentinformation,doesnotconstitutea recommendationoropinion,and doesnot constitutea substitutefortheindependentjudgmentofeachinvestor.

2 | Thispresentationandtheinformationcontainedthereinarenotintendedtoreplacetheneedtoreviewthereportspublishedby theCompanytothepublic,includingtheCompany'speriodicreportfor2024(publishedonMarch25, 2025)andtheCompany'squarterlyreports. Someofthedatain thepresentationis basedon datathatappearsin theCompany'sreports,butis presentedin a differentmannerthanthewayitwaspresentedin theCompany'sreports. In any caseof a conflictorinconsistencybetweentheinformationpresentedin thispresentation in a conciseandgeneralmannerand detailedinformationthatappearsin theCompany'speriodicreportsand/orinterimreports,theprovisionsoftheaforesaidreportswillprevail.

CEO of the Company Barak Rosen

Chairman of the Board Asaf Touchmair

The equity including minority rights as of September 30, 2025 is approx. NIS 3.6 billion*

Estimate of gross profit not yet recognized of approx. NIS 8 billion (see tables later in the presentation, on pp. 40-42, 48-53)

Balance of surplus expected at the completion of the project, from the main projects in Israel, estimated at approx. NIS 6 billion

BETTER &

DIFFERENT

(see tables later in the presentation on pp. 48-53, 40-42)

Company's shares are on the TA 125 Index

Approx. 20 years of activity in the real estate sector

-iIA rating Positive outlook, Maalot

Projected NOI (Company share) after completed construction of incomegenerating assets is expected to reach approx. NIS 450 million (see tables later

As of the presentation date, the Company and its subsidiaries are involved in the execution and active planning of

approx. 19,000 apartments (including apartments that are subject to changes in city building plans and signatures of the owners of the apartments in evacuation and reconstruction projects)**

in the presentation on pages 43-47).

* Approx. NIS 2.6 billion excluding minority rights

** Of the approx. 1,942 apartments in projects where there are less than 67% signatures, the Company works to promote the owner's signatures

THE GROUP

ISRAELCANADA

Land & improvement ISRAELCANADA

Initiation and development of projects

ISRAELCANADA

Hotels

ISRAELCANADA

ICR Residential and Urban Renewal

ISRAELCANADA

Income-generating assets

Scope of activity from the beginning of 2025

Progress on Projects from Start of 2025

Planning and marketing

January 25

Beginning of SHE Project and land marketing Northern Quarter , Herzliya

January 25 Obtaining a building permit for the Bavli Project

February 25

Receiving a full building permit for the residential towers (02/2025) and office and commercial towers ( 04/2025) in the Midtown Jerusalem project and contracting with Tidhar to perform main contractor work

February 25

Signing of an agreement with Electra Construction Ltd. to carry out excavation, shoring and foundation work in the Vertical City project and perform field work

August 25 Publication and approval of a project plan Four & Five (New

Ramat Hasharon) for validation

July 25

Completion of the PEOPLE project transaction and commencement of marketing ( 10/2025)

May 25

Receiving approval from the local committee in the Tel Aviv Municipality for the deposit of a plan that includes additional rights in the Beit America project

March 25

Signing of an agreement to perform excavation and shoring contractor work with Solel Boneh, in the SHE project and perform field work

July 25

Signing a financing agreement for the Midtown Jerusalem project

September 25

A full building permit was received in the Rainbow project

September 25

Receipt of a full building perform for the Vertical City Project

September 25

Receipt of minutes from the District Committee on the Eurocom Building project, with decision to conditionally deposit the plan*

November 25

The Hotel Company - began trading as a public company on the Stock Exchange (through a merger with DNA)

SHE

Imaging for illustration only

Developments and strengthening of equity

Total capital attributed to shareholders of the parent company in NIS millions

Assets

Total assets on the balance sheet are approx. NIS 12 billion

OUR PROJECTS

Construction and development of projects in Israel*

Approx. 5

billion NIS projected surplus balance upon completion of projects after tax (Company share)

Approx. 18,800

housing units in planning, construction and marketing**

Approx. 28

billion NIS projected revenue balance (Company share)

Approx. 6

billion NIS Gross profit balance not yet recognized (Company 's share)

Projects

Construction and development of projects in Israel

Lot 306, Sde Dov

VERTICAL CITY

Ramat Gan

Rainbow Beit Hanaara SHE

Tel Aviv Tel Aviv Tel Aviv Tel Aviv

Midtown Jerusalem

Jerusalem

People Bavli 4-6 Dubnov 156-160 Herzl

Project data

A plot with an area of approx. 8.6 dunam, designated for the construction of 459 residential units and approx. 1,600 sq.m of commercial spaces. The project included a 39-floor tower, alongside 6 buildings of textured construction, commercial areas, swimming pools and areas for the residents' well-being.

Marketing

As of November 26, 2025, 272 apartments were sold for total consideration of approx. NIS 2.4 billion*.

Gross profit not yet recognized (company's share)

Approx. 670 m

million

Status

In March 2024, an excavation and foundation permit was received and the Company began performing the excavation and foundation works. In September 2025, a full building permit was received. A project financing agreement was signed.

Projected revenue (100% projected)

Approx.

3.8 billio

(Approx. NIS 3.2 billion excluding VAT)

Company share

100%

Lot 306 Sde Dov complex

Project data*

18,150 sq.m Office areas Land area

5,400 sq.m

2,500

Logistic areas

Commercial spaces

Rationale and acquisition strategy

The purchase of the lot significantly expands the "Rainbow" project, serves as a force multiplier, creates planning, execution, and operational synergy between the lots, and completes the project as a vibrant, mixed-use urban block with maximum control over the entire complex. The project is in the planning and preparation stages of a design plan. Poject architect - Moshe Tzur.

MIDTOWN JERUSALEM

Project data

The "Shaarei Tzedek" complex in Jerusalem, spanning approx. 17 dunams, on which there is a mixed-use project comprising approx. 895 residential units across four towers, including about 200 long-term rental units in two 40-floor residential towers. The project will also include commercial, office, and hotel spaces with a total gross area of approx. 75,000 sq.m, as well as around 12,000 sq.m of public buildings, utilizing the full building rights under the zoning plan.

Marketing

As of November 26, 2025, 261 apartments were sold for total consideration of approx. NIS 1.1 billion*. 4,052 sq.m of office space at approx. NIS 119 million.**

Gross profit not yet recognized (company's share)

Approx. 700 million NIS

Status

The project is under construction.

Banking support was received.

Projected revenue (100% projected)

Approx. 6.4

NIS

(Approx. NIS 5.4 billion excluding VAT)

Company share

73%

^* Including VAT and registration documents

** Including VAT

SHE

TEL AVIV

Project data

A 40-floor tower with a total area of approx. 38,000 sq.m, including: 102 apartments covering about 10,000 sq.m, office and commercial spaces covering approx. 25,000 sq.m, and public buildings covering around 3,000 sq.m.

Marketing

The Company began marketing in March 2025, and as of November 26, 2025, 4 apartments were sold for a total of approx. NIS 87 million*.

Gross profit not yet recognized (company's share)

Approx. 600 million NIS

Status

A permit for excavation and shoring was received, and on March 20, 2025, an agreement was signed with an excavation and shoring contractor, and the Company began to carry out the work. A full permit is expected to be received during 2026.

Projected revenue (100% projected)

Approx. 2.6 billion NIS

(Approx. NIS 2.2 billion excluding VAT)

Company share

81%

4-6 Dubnov Complex, Tel Aviv

Project data

In May 2024, the Company won an Israel Land Authority (ILA) tender for the purchase of land located at 4–6 Dubnov Street in Tel Aviv, with a total area of approx. 2.4 dunams. The land is designated for the construction of a tower of up to 42 floors, comprising 133 residential units, approx. 17,500 gross sq.m of commercial and office space above ground, and approx. 1,500 net sq.m of public areas. During August 2024, the Company and the partner completed the acquisition of the rights.

Marketing

The Company began marketing in in the fourth quarter of 2025, and as of November 26, 2025, 9 apartments were sold for a total of approx. NIS 107 million*.

Gross profit not yet recognized (company's share)

Approx.

479 million NIS

Status

The Company began detailed planning of the project and is advancing the design plan of the complex.

Projected revenue (100% projected)

Approx. 2.3 billion NIS

(Approx. NIS 2 billion excluding VAT)

Company share

80%

בית הנערה

הוד-השרון

Project data

Land including seven lots in the Beit Hanaara complex in Hod Hasharon, with a total area of approx. 39 dunam. The land is located in the Kfar Hadar neighborhood in the western part of Hod Hasharon, in the complex known as Beit Hanaara.

Marketing

The Company began marketing apartments in lots 204 and 208 (94 units), and as of November 26, 2025, 7 apartments were sold for a total of approx. NIS 36 million*.

Gross profit not yet recognized (company's share)

Approx.

Company share

50%

Projected revenue (100% projected)

submitted for lots 204 and 208.

Approx.

Status

billion NIS

(Approx. NIS 2.9 billion, excluding VAT)

Price of the land

Approx. 664 million NIS

Project data

The Company, together with Check Point, won a tender for the purchase of capitalized leasehold rights in land with an area of 13.5 dumans, on Kremenetski Street in Tel Aviv. The project is intended to build 302 residential units, approx. 2,000 sq.m of commercial and office space totaling approx. 60,000 sq.m, including commercial space on the ground floor. Pursuant to the agreements between the Company and Check Point, the residential rights will be owned by the Company, while the office rights will be owned by Check Point.

Marketing

The Company began marketing in in the The Company began detailed fourth quarter of 2025, and as of planning of the project. On July 2, November 26, 2025, 57 apartments were 2025, the purchase price was paid sold for a total of approx. NIS 213 and the transaction was completed. million*.

Status

Price of the land

Approx.

million NIS

Company share: approx. NIS 318

Projected revenue (100% projected)

Approx.

million NIS

Gross profit not yet recognized (Company's share)

Approx.

380 million NIS

(Approx. NIS 1.4 billion, excluding VAT)

Income -generating real estate*

Approx. 450

million NIS projected NOI in an annual calculation, assuming full occupancy (Company share)

Approx. 465

thousand sq.m of residential, commercial, office space

Average occupancy rates in assets available for

an annual calculation, assuming full occupancy (100%)

Projects

Income-generating real estate

VERTICAL CITY

Ramat Gan

Lot 306

Sde Dov Tel Aviv Jerusalem

MICROSOFT Da Vinci Midtown

SHE Midtown Dubnov

Tel Aviv

Tel Aviv

L

Project data

Land with an area of approx. 11 dunams for the construction of a project that includes an office tower with an area of approx. 75,000 sq.m, a residential tower that includes 350 student dormitories and 400 apartments for long-term rental, commercial space and a public building.

Marketing

As of November 26, 2025, approx. 27 thousand sq.m of offices were sold for approx. NIS 847 million*.

Status

On December 1, 2024, an excavation and disposal permit was received. In February 2025, an agreement was signed with Electra to carry out excavation and digging work, and the company began carrying out the work. On September 11, 2025, a full building permit was received for the project. At the same time, the Company is promoting a city building plan for additional building rights in Tower A, covering 170,000 sq.m for office and residences.

Price of the land

Approx.

936 million NIS

NOI (100%)

Approx.

207 million NIS

Company share

Approx. 56%

Clal 24.5%, BSR 19.6%

Project data

50

floors

337

apartments - fully sold

Approx.

75 thousand

Sq.m office space

Approx. 97%

Occupancy rate in commercial

Approx. 16 thousand

sq.m of commercial space

Company share

81%

OUR LANDS

Real estate in Israel*

billion NIS revenue balance (100% projected)

Approx. 1.6

billion NIS Gross profit balance not yet recognized (Company 's share)

Approx. 1.5

billion NIS projected surplus balance upon completion of projects after tax (Company share)

Projects

Real estate in Israel

Uptown Pi Glilot

Four&Five Ramat Hasharon

Vally Netanya

Lapid Tel Aviv

Shvil Hatapuzim Hod Hasharon

Harova Hazfoni Herzliya

UPTONN

Project data

Land with an area of approx. 34 dunams and shares in the company Pinat Glilot, which in turn reflect an area of an additional approx. 17 dunams.

Status

According to information provided to the Company, the consolidation and division plan is in the final stages of preparation for publication for objections. After its approval, design plans and building permits will be able to be advanced.

Marketing

As of September 30, 2025, approx. 23.5 dunams have been sold.

Purchase cost - Pi Glilot shares

Approx. 53

Price of the land

Approx. 133 million NIS

Company share

64%

Gross profit not yet recognized (company's

Approx.

FOUR SFIVE

Project data

As of September 30, 2025, 584 residential units* and approx. 55,000 sq.m of offices** were sold.

Marketing

Land with an area of approx. 62 dunams, known as the Elco complex and located in the eastern part of Ramat Hasharon, was purchased in March 2015.

Status

The plan includes 600 apartments (of which 120 are apartments for elase) and approx. 150,000 sq.m of office and commercial space. The plan was approved and published for validation in August 2025. On October 22, 2025, the Ramat Hasharon Municipality petitioned the court.

The Company is promoting the issuance of a building permit for the complex.

Price of the land

Approx.
169 million NIS

Total gross profit not yet recognized (Company's share)

Approx. 408

million NIS

Company share

81%

Partners' share is 19%

<-- PDF CHUNK SEPARATOR -->

Herzliya Harova Hatzfoni

Project data

Purchase of real estate with an area of approx. 25 dunams in plots 4, 18 and 63 in block 6663 in Herzliya.

Marketing

As of September 30, 2025, approx. 8.7 dunams have been sold.

Status

The land is zoned agricultural within the scope of the 3006 National Development Plan. In January 2025, the Company began marketing the land.

Cost of land

Approx. 146

nillion NIS

Lapid Complex,Eilat Street, Tel Aviv

Project data

The Company owns land with an area of 7,557 sq.m in the Lapid Complex on Eilat Street in Tel Aviv.

Status

In April 2021, the Tel Aviv Local Committee recommended to the District Committee the deposit of a plan that includes 123,000 sq.m. The Project Company's share in the above rights amounts to approx. 33,000 sq.m, divided into 55% residential and 45% hotel use (approx. 18,000 sq.m for residential and approx. 15,000 sq.m for hotel use). In July 2025, the plan was transferred to the District Committee*.

Projected revenue (100% projected)

Approx. 2.9

billion NIS

(Approx. NIS 2.5 billion, excluding VAT)

Gross profit not yet recognized (company's share)

Approx. 650

million NIS

Purchase cost Approx. 212

million NIS

Company share

60%

Projects

ICR

Amnon Lipkin Shahak, Netanya Idmit, Givatayim

EVE Neve Gan, Ramat Hasharon

Hagefen North Park

Bar Neve Gan, Ramat Hasharon -Kochva Street, Herzliya

SERENITY Tel Hashomer, Ramat Gan

PASTORAL YAM AIR Hamesila

Hantaka, Jerusalem Sokolov, Bat Yam Histadrut, Givatayim Hamesila, Herzliya

Hotel units

Projects in various stages of advancement

Approx.

Projected revenue volume

Billion NIS

Billion NIS

Expected gross profit volume

thousands

Commerce and offices

ICR NUMBERS

15.6 thousand residential units

In progress or marketing

Approx. 2,900

In advanced licensing/ planning processes

Approx. 10,700

In planning and signing resident stages

Approx. 2,000

I C R Assets

Sold

Sold Salame Road, Tel Aviv (****)

47 Apartments

French Hill, Jerusalem (****)

500 Apartments

Ha'ari, Netanya

225 Apartments

Approx. 575

Sq.m commercial

Herbert Samuel,

Tel Aviv

Approx. 15,000 sq.m commercial and hotel

Approx. 88 Apartments

North Park, (Stage C), Ramat Hasharon

256 Apartments

Complex 12, Netanya

200 Apartments

In Planning and Lands Demolition and Reconstruction* In Marketing ***

Rothschild, Bat Yam

560 Apartments

Harav Kukis, Bat Yam

171 Apartments

Katamonim, Jerusalem

474 Apartments

86 Bar-Kochva Street, Herzliya

74

Apartments

Abba Hillel Rashi Ramat Gan

200 Apartments

Hatzofim Complex, Lod

310 Apartments

Dizengoff Hameyasdim, Netanya

191 Apartments

Brodetsky Street, Tel Aviv

166 Apartments

Gordon, Herzliya

170 Apartments

Hagefen, Herzliya

400

Apartments

Marketing rate - 99%

North Park, (Stage A) Ramat

117 Apartments

Jerusalem Blvd., Jaffa

Sold in full

Marketing rate - 89%

Marketing rate - 39%

Marketing rate - 14%

Marketing rate - 39%

Hamesila, Herzliya

54 Apartments

North Park, (EVE) Ramat Hasharon

401 Apartments

Jasmin, Givatayim

118 Apartments

Serenity, Ramat Gan

58 Apartments 548 Hasharon Apartments

YAM Bat Yam

220 Apartments

OCEAN PARK TOWERS Netanya

rate - 99%

rketing Ma rate - 71%

Marketing rate - 99%

234 Apartments

Air, Givatayim

333 Apartments

Pastoral, Jerusalem Marketing rate - 44%

Marketing rate - 71%

Marketing

425 Apartments

Hotels

ISLA BROWN

CORINTHIA

PLAY 42

GALEI KINNERET

Tiberias

BROWN BEACH

EVIA ISLAND

WEST PLAY LEVONTIN

Eilat Tel Aviv Tel Aviv

H O T E L S

Israel-Canada activity in the fields of environment, society and corporate governance

Measuring emissions from the value chain (bundle 3)

Adding an appendix to contractor agreements

Examining climate risks

Construction according to LEED standards

S

Society

Implementing the life cycle approach

Giving donations

Equal pay report

Wartime activity

volunteering

G

Corporate Governance

Updating the enforcement plan

Increasing the proportion of women on the board of directors

Information security and privacy

Code of ethics

The Company published an ESG report for 2024

OUR DATA

Data Summary

Consolidated balance sheet

Assets (in NIS thousands)

December 31, 2024	Sept. 30, 2025
410,276	259,557	Cash and cash equivalents
566,068	46,582	Cash and deposits used in financing accounts
129,192	102,261	Financial assets at fair value through profit and loss	Current
320,758	447,023	Real estate inventory	assets
2,625,023	3,037,069	Inventory of buildings under planning and construction
240,694	322,827	Current other assets
4,292,011	4,215,319
1,305,859	1,420,081	Investments and loans in investee companies
2,893,000	3,147,484	Real estate for investment
1,145,810	1,492,396	Long -term real estate inventory	Non-current assets
1,319,620	2,146,228	Other non-current assets
6,664,289	8,206,189

Consolidated balance sheet

Liabilities and equity (NIS thousands)

December 31, 2024	Sept. 30, 2025
2,866,946	3,374,007	Short term credit from bank corporations and current maturities of long -term loans
269,101	294,123	Current maturities of bonds
421,240	599,504	Advances for the sale of real estate inventory and building inventory under planning and construction	Current liabilities
2,502	814	Loans from others
242,524	445,237	Other current liabilities
3,802,313	4,713,685
10,175	10,116	Loans from others
2,001,362	1,716,813	Loans from bank corporations
1,055,667	1,135,279	Bonds	Long -term liabilities
624,395	1,261,317	Other long -term liabilities
3,691,599	4,123,525
2,485,995	2,621,871		Equity
976,393	962,427		Minority rights
3,462,388	3,584,298		Total equity
10,956,300	12,421,508		Total liabilities and equity

Consolidated profit and loss

In NIS thousands

For year ending on December 31, 2024	For period ending on September 30, 2024	For period ending on September 30, 2025
774,236	658,446	791,035	Total revenue
260,252	261,806	137,973	Operating profit
(42,255)	(47,790)	(119,275)	Net financing expenses
217,997	214,016	18,698	Profit after financing
231,678	216,219	37,349	Net profit

Summary of Data Estimate in Main Projects in Israel

Construction and development of projects in Israel (Table 1)

Projected surplus balance at the completion of the project after tax (Company 's share) in NIS (17) thousands	Projected gross profit rate	Gross profit balance not yet recognized (2) (Company share) in NIS thousands	Average sale price per sq.m in NIS (16) thousands	Projected revenue balance (Company 's share) as of September 30, 2025 in NIS thousands	Projected revenue balance ( 100%) as of September 30, 2025 in NIS thousands	Balance of inventory in books As of September 30, 2025 in NIS thousands	Estimated date for cash withdrawal (15) from the project	Marketing scope as of publication of the latest financial report	Marketing scope as of September 30, 2025	Status	Company share in the project	(3) Project name
5,582	69%	5,554	Residential - 88	8,007	8,429	2,582	2025	99%	99%	Occupied	95%	13 Ahad Ha'am Street, Tel Aviv	1
419,114	34%	601,942	Residential - 130, Office shell - 40, Commercial - 50	1,778,441	2,195,607	464,632	2031	4%	4%	An excavation and disposal permit	81%	(6) SHE, Tel Aviv	2
537,229	18%	692,774	Residential - 72, Office - 22, Commercial - 40, Residential for rent - 57	3,921,633	5,372,101	1,035,868	Residential - 2030, Offices - 2031	38%	34%	Full permit	73%	(7) Midtown Jerusalem	3
246,541	27%	399,818	Residential - 42	1,472,367	2,944,734	445,235	TBD	Stage A - 4%	-	City building plan in force	50%	Beit Hanaaara Complex, Hod (8) Hasharon	4
875,527	21%	671,522	Residential - 85, Commercial - 45	3,187,355	3,187,355	1,593,368	2030	58%	56.5%	Full permit	100%	(9) Rainbow, Tel Aviv	5
342,216	25%	284,904	Offices - 28	1,146,238	2,050,515	421,196	2031	35%	35%	Full permit	55.9%	Vertical City, (11) Ramat Gan	6
357,322	35%	478,959	Residential - 90, Offices - 33	1,377,027	1,721,284	394,137	2032	5%	-	City building plan in force	80%	(12) Dubnov, Tel Aviv	7
84,205	19%	79,301	Residential - 65	411,426	822,852	78,670	2030	12%	12%	Full permit	50%	Lev Bavli, Tel Aviv	8
315,435	27%	377,443	Residential -52, Offices - 45	1,417,555	1,417,555	352,438	2032	11%	-	City building plan in force	100%	People, Tel Aviv	9
3,183,171		3,592,217		14,720,049	19,720,432	4,788,126				Total

Purchase groups (Table 2)

27,830	16%	4,477	N/A	28,794	28,794	24,317	TBD	-	-	In planning	100%	Turquoise	1
27,830		4,477		28,794	28,794	24,317				Total

Management fees (Table 3)

10,812	100%	14,000	N/A	14,000	14,000	177	On the plan approval date	100%	100%	In planning	-	Blue Beach, Herzliya	1
10,812		14,000		14,000	14,000	177	Total

Summary of Data Estimate in Main Projects in Israel

Investment in land (Table 4)

Projected surplus balance at the completion of the project after tax (Company 's share) in NIS thousands (17)	Projected gross profit rate	Gross profit balance not yet recognized (2) (Company share) in NIS thousands	Average sale price per sq.m in NIS (16) thousands	Projected revenue balance (Company 's share) as of September 30, 2025 in NIS thousands	Projected revenue balance (100%) as of September 30, 2025 in NIS thousands	Balance of inventory in books As of September 30, 2025 in NIS thousands	Estimated date for cash withdrawal (15) from the project	Marketing scope as of publication of the latest financial report	Marketing scope as of September 30, 2025	Status	Company share in the project	(3) Project name
436,915	34%	649,438	Residential - 115, Hotel - 56	1,505,899	2,509,832	191,596	TBD	-	-	In planning	60%	Lapid complex, (5) Tel Aviv
304,106	100%	407,631	N/A	407,631	503,249	12,688	TBD	97%	97%	City building plan in force	81%	Four&Five Ramat Hasharon, (4) residential rights
							TBD	38%	38%	City building plan in force	81%	Four&Five Ramat Hasharon, office (4) rights
9,542	67%	7,524	N/A	11,273	14,091	3,749	On the plan approval date	96%	96%	In planning/ rezoning	80%	Tzamarot, Hod Hasharon (Shvil Hatapuzim)
122,610	57%	80,494	N/A	140,800	140,800	63,495	TBD	-	-	In planning	100%	Hatzuk Hazfoni
131,964	67%	103,758	N/A	155,471	242,924	51,713	TBD	61%	61%	In planning	64%	Glilot Complex and Uptown shares
4,296	62%	3,127	N/A	5,015	5,015	1,888	TBD	94%	94%	In planning	100%	Hod Hasharon West
109,415	39%	45,828	N/A	118,800	118,800	77,599	TBD	44%	44%	In planning	100%	SUNSET North Tel Aviv
131,537	64%	98,179	N/A	153,765	256,275	55,586	TBD	37%	37%	In planning	60%	Business Village, Netanya
209,320	26%	221,846	Residential - 68, Commercial - 40, Office - 23	848,954	2,234,090	321,356	TBD	-	-	In planning	38%	Beit Mars, (10) Tel Aviv
1,459,705		1,617,825		3,347,608	6,025,076	779,670				Total

4,681,518 5,228,519 18,110,451 25,788,302 5,592,290 Total Tables 1-4

Summary of Data Estimate in Main Projects in Israel

Footnote

• 1. Assuming fullrealizationofthe inventory.Insofarasthereareno actualsales,theCompanyreliesonmarketpricesor applications.
• 1. Grossprofitis calculatedin accordancewithgenerallyacceptedaccountingprinciplesand includesfinancing expensesuntil a building permitisreceived,excludingmarketing and advertisingexpenses,and includesboth the income from the saleofinventory(asdefinedin AccountingStaffPosition5-11oftheIsraelSecuritiesAuthority).
• 1. BeitMarsand VerticalCityareprojectspresentedin theCompany'sfinancialstatementsundertheinvestmentin affiliatedcompaniessection.
• 1. Four&FiveRamatHasharon,fordetailsseeSectionB oftheBoardofDirector'sreport.
• 1. Lapid,Tel Aviv- the abovetableincludesall the expectedrights ofthe project. The interestratewasupdatedaccordingto the prime interestrateknownatthe time of publicationofthe reports. Itshould be notedthatthe selling priceper sq.m forthehotelreflectsa fully finishedhotelroomtoa high standardin a leading hotelbrand.
• 1. Yehuda Halevy(SHEproject),Leumi Building, Tel Aviv. The abovetable includes all the expectedrights of the project. The interestratewas updated according to the prime interestrate known at the time of publicationof the reports. It should be notedthattheofficeand trading rights arepresentedin the investmentrealestatesectionoftheCompany'sfinancialstatements.
• 1. MidtownJerusalem- The table aboveincludes all rights classifiedasinventoryin the project. The interestratewas updated accordingto the prime interestrateknownatthe time of publicationof the reports. Itshould be notedthatthe residentialrentalspace,officeand commrcialspacerights arepresentedin the investmentrealestatesectionofthe Company'sfinancialstatements. Revenuesdo notincludesignificantfinancing componentsin the amount of approx.NIS 49million,whichwillbe recordedin theotherrevenuesection.
• 1. BeitHanaara,HodHasharon- The interestratewasupdatedaccordingto the prime interestrateknownatthe time of publicationofthe reports. The number of unitsformarketing in StageAis 94units and in StageB the number of units is 436,withtheDistrictCommitteeapprovingan increasein densityin August 2025so thattheprojectwillinclude633unitsin total.
• 1. Sde Dov,Tel Aviv- The table aboveincludes all of the projectedrights in the project. The carrying cost does not include non-specificcredit capitalizationof the bonds. It should be noted thatthe commercialrights are presentedin the investmentrealestatesectionofthe Company'sfinancialstatements. Revenuesdo notincludea significantfinancing componentin the amount of approx.NIS38million,whichwillbe recordedin the otherrevenuesection. Also,themix of apartmentschanged during theperiodfrom 480apartmentsto459apartments. Themarketing spaceremainsthe same.
• 1. BeitMars,TelAviv- The abovetableincludesthe expectedrightsin theprojectaccordingtoUrbanPlan 5. The plan is underthe authorityofthelocalcommittee.
• 1. VerticalCity,RamatGan– The datain thetableaboveincludesrightsto 75,000 sq.m of officesthattheprojectcompanydecidedtoclassifythem asinventoryand sell as offices. Revenuesdo notincludea significantfinancing componentin the amount of approx.NIS43million,whichwillbe recordedin theotherrevenuesection.
• 1. Dubnov,TelAviv- The tableaboveincludesallthe expectedrights ofthe project.
• 1. Regarding ICR'smain projects,seethefollowingtables.
• 1. The tabledoesnotincludetheland plotsin NorthQuarter,TelAviv,and Emek BrachaTelAviv.
• 1. Thedatapresenteddoesnotincludefuturemanagement feesexpectedin theprojects.
• 1. The residentialsalespriceincludesVATand theremaining componentsdo notincludeVAT.
• 1. Projectedsurplus balancedoesnotincludeequityinvested.

Summary of real estate for investment Properties that are actually rented and/or available for rent (Table 1)

Occupancy rate		Debt fo	r the asset (NIS t	housands)	Projected NOI in
Occupancy rate / rate of property areas for which binding leases were signed as of September 30, 2025	LTV as of Septemb er 30, 2025	Final repayment date of the debt	Annual interest rate on the debt	Debt balance as of September 30, 2025 (3)	an annual calculation (assuming full occupancy) (the effective Company share) in NIS thousands	Projected NOI in an annual calculation (assuming full occupancy) (100%) in NIS thousands (4)	Total office/commercial spaces to be constructed	Carrying balance as of September 30, 2025 NIS thousands (3)	Description	Company share (Indirectly)	Asset purchase date	Location	Project name (1)
97%	66%	March 14, 2030	Approx. 73% of the loan amount: index + 4.09% Approx. 27% of the loan amount: index + 3.8%	338,163	25,375	31,328	Approx. 16,000 sq.m and parking including approx. 702 parking spaces	509,449	Commercial spaces in the Midtown project (established by the Company and partners)	81%	2011	Tel Aviv	Midtown Tel Aviv (commercial and parking) (5)	1
100%	62%	Sept. 10, 2035	Approx. 90% of the loan amount: index + 1.29% Approx. 10%: Bank of Israel interest + 1.75	826,220	16,408	68,000	Approx. 44,000 sq.m of office space, approx. 3,000 sq.m of commercial space and land with construction rights of approx. 7,000 sq.m for commercial and office space		An office and commercial structure in Herzliya Pituach that was constructed by the Company and partners, and is fully leased to Microsoft	24.13%	2016	Herzliya	Sea Tower (Microsoft)	2
100%	45%	March 26, 2026	3.3% shekel	37,538	4,308	4,308	Approx. 3,100 sq.m and 44 parking spaces	83,600	Two office floors in a project established by the Company	100%	2011	Tel Aviv	Two office floors in the Midtown project of Tel Aviv	3
99%	41%	Apr. 22, 2032	Prime + 1%	114,056	4,122	11,449	7,800 offices and approx. 600 sq.m of commercial space	276,708	A 13-floor building above the ground floor for offices and commercial space	36%	2019	Tel Aviv	Beit Israel Canada (formerly: Beit America) (2)	4
100%	73%	January 25, 2026	Prime + 0.5%	20,748	1,972	1,972	1,675 sq.m and 10 parking spaces	28,550	Office floor in a project established by the Company	100%	2010	Tel Aviv	Office floor in the Elifelet Project	5

Properties that are actually rented and/or available for rent (Table 1) (cont.)

Occupancy rate		Debt for t	the asset (NIS thou	sands)	Projected NOI in an annual	Projected NOI		Carrying
/ rate of property areas for which binding leases were signed as of September 30, 2025	LTV as of Septemb er 30, 2025	Final repayment date of the debt	Annual interest rate on the debt	Debt balance as of September 30, 2025 (3)	calculation (assuming full occupancy) (the effective Company share) in NIS thousands	in an annual calculation (assuming full occupancy) (100%) in NIS thousands (4)	Total office/commercial spaces to be constructed	balance as of September 30, 2025 NIS thousands (3)	Description	Company share (Indirectly)	Asset purchase date	Location	Project name (1)
100%	46%	Dec. 29, 2035 Jul. 15, 2025	Index linked + 1%-3.6%	39,557	3,326	5,624	4,950 sq.m and approx. 89 parking spaces	85,327	Office floor in a project established by the Company	59%	Various dates	Herzliya	Office floor in the Haholshim Project
100%					259	259	125 sq.m. commercial	3,189	Commercial spaces in a project established by the Company	100%	2010	Tel Aviv	LIVE TLV 7
97%	62%	August 6, 2027	Index linked+3.73%	282,690	16,452	32,904	Approx. 9,000 sq.m of office space, approx. 1,200 sq.m commercial space, and approx. 270 parking spaces	455,846	A residential and commercial project established by the Company and partners by way of a purchase group	50%	2016	Tel Aviv	Office, commercial, and parking spaces in the Da Vinci project
92%	52%	Jul. 5, 2026	Index linked + 4.22%	40,965	5,832	5,832	Approx. 2,340 sq.m	78,273	A residential and commercial project established by the Company and partners by way of a purchase group	100%	Various dates	Tel Aviv	Office spaces in the Da Vinci project (6)
79%					798	840	277 sq.m. commercial	9,523	A residential and commercial project established by the Company	95%	2015	Tel Aviv	Ahad Ha'am Street, 10 Commercial
				1,699,937	78,852	162,516		2,854,815	Total

Properties under construction (Table 2)

Occupancy rate /		Debt fo	or the asset (NIS t	housands)	Projected NOI in an annual	Projected NOI in	Fatire at all		Faktion and	Carrying
rate of property areas for which binding leases were signed as of September 30, 2025	LTV as of Septemb er 30, 2025	Final repayment date of the debt	Annual interest rate on the debt	Debt balance as of September 30, 2025 (3)	calculation (assuming full occupancy) (the effective Company share) in NIS thousands	an annual calculation (assuming full occupancy) (100%) in NIS thousands (4)	Estimated conclusion date of the constructi on	Total office/commercial spaces to be constructed	Estimated costs to complete the project (100%) in NIS thousands	balance as of September 30, 2025 NIS thousands (3)	Description	Company share (Indirectly)	Asset purchas e date	Location	Project name (1)
	60%	Banking support, upon completion of constructio n	Prime + +0.84%	314,963	71,252	97,605	2030-2031	Approx. 21,000 sq.m of office, approx. 13,743 sq.m of residential for lease, approx. 4,525 sq.m of commercial, approx. 10,810 sq.m of hotel and building for preservation of approx. 4,425 sq.m	915,671	523,114	An integrated project for residences, offices, hotels and commerce (excluding the residential rights and approx. 44,600 sq.m of offices classified in the inventory section in the Company's financial statements).	73%	2020	Jerusalem	Midtown Jerusalem project (offices, apartments for rent, hotels and commerce)
	63%	Dec. 31, 2025	Prime + 1%	103,547	48,120	59,407	2031	25,054 sq.m	650,038	163,278	Integrated residential, office, and commercial project	81%	2018- 2020	Tel Aviv	Office areas in the SHE 2 Project
	37%	October 30, 2026	Prime + 1.25%	175,750	TBD	TBD	Fourth quarter 2025	Approx. 23,000 sq.m above ground office and commercial space	40,807	474,030	Office and commercial project	17.7%		Herzliya	HQ (Lot 4006)
					TBD	TBD		Approx. 24,000 sq.m offices and 2,000 sq.m commercial		242,660	Office and commercial project	17%		Herzliya	Lot 4001 4
	50%	December 31, 2026	Prime +0.2%- 0.7%	586,512	115,670	206,923	2031	117,429	1,960,919	1,169,760	A project intended for the construction of office, residential and commercial towers that includes: 400 residentual units for saturated construction for long-term rental purposes, 350 units for student dormitories, public buildings and institutions, and structural construction for office and commerce	55.9%	2021	Ramat Gan	Vertical City Project (Stock Exchange triangle complex) (2,7,10)
					4,830	4,830	2030	1,610 sq.m	13,535	45,585	A residential project that includes 1,610 sq.m of commercial space	100%	2021	Tel Aviv	Rainbow, Sde Dov complex 6
				1,180,772	239,872	368,765			3,580,970	2,618,427	Total

Properties in the planning stages (Table 3)

		Debt for the a	sset (NIS the	ousands)	Projected NOI in an
Occupancy rate / rate of property areas for which binding leases were signed as of September 30, 2025	LTV as of Septem ber 30, 2025	Final repayment date of the debt	Annual interest rate on the debt	Debt balance as of September 30, 2025 (3)	annual calculation (assuming full occupancy) (the effective Company share) in NIS thousands	Projected NOI in an annual calculation (assuming full occupancy) (100%) in NIS thousands (4)	Estimated conclusion date of the constructi on	Total office/comme rcial spaces to be constructed	Estimate d costs to complete the project (100%) in NIS thousand	Carrying balance as of Septemb er 30, 2025 NIS thousand s (3)	Description	Compan y share (Indirec tly)	Asset purchas e date	Locatio n	Project name (1)
	29%	Nov. 23, 2026	Prime + 0.55%	77,111	46,597	107,280	TBD	Approx. 60,000 sq.m of office, hotel and commercial areas	886,418	267,000	Office and commercial tower construction project	43.4%	2018 - 2020	Ramat Gan	Beit Israel Canada (formerly: Beit Eurocom) (11)	1
	73%	August 21, 2027	Prime + 0.15%	81,841	27,503	34,379	2032	17,500 sq.m of commercial and office spaces	233,759	112,384	Project intended for the construction of office, residential and commercial towers	80%	2024	Tel Aviv	Dubnov	2
	73%	October 25, 2026	Prime + 0.3%	95,049	49,116	49,116	TBD	18,150 sq.m of office space, 5,400 sq.m of logistics space and 2,500 sq.m of commercial space	349,556	130,044	Project intended for construction of commercial, logistics, and office space	100%	2024	Tel Aviv	Lot 306, in the Sde Dov complex	3
					5,420	6,022	TBD	3,100 sq.m	45,039	19,000	6-floor office and commercial building	90%	Decemb er 2016	Tel Aviv	Office and commercial spaces in the Lemed Project (9)	4
				254,001	128,636	196,797			1,514,772	528,428	Total Table 3

	3,134,710	7,360 728,078	5,095,742	6,001,670	Total Tables 1-3
--	-----------	---------------	-----------	-----------	------------------

Footnote

• 1. The table does not include the Company's share of land in Kadima Zoran, Emek Bracha and Kfar Shmaryahu (assisted living).
• 1. In the financial report, the projects are included in the investment in affiliated companies section.
• 1. The data is 100% inclusive of data from affiliated companies.
• 1. The NOI is calculated assuming full occupancy.
• 1. The table does not include hotel spaces that are leased to a subsidiary and are included in the fixed assets section of the C ompany's financial statements.
• 1. The Company (through a wholly owned and controlled subsidiary) purchased office space from third parties at various times.
• 1. The data is presented in accordance with FAR 18.
• 1. In mixed-use projects, the areas in the table do not include the residential areas.
• 1. OnDecember19, 2021, the district committee approvedthe CityBuilding Plan TA/MK/4802promoted by the Companywhich authorizesthe constructionof a 6-floor office and commercial building (including the ground floor)in a projectwith a totalgross areaof approx. 8,675sq.m (surfaceand underground). The Company's share of the total rights is approx. 4,970sq.m.
• 1. In light ofsigning the sales contractsin significantscopesand rates(35%),the associatedcompany decidedthat officeareasin a scopeof approx. 75,000 sq.m from all ofthe investment real estate in the project will be reclassifiedas of October2023, as long-term real estate inventory in lieu of investment real estate as presented from the purchasedateofthe land. The data in the tablebelowreferssolelyto the remaining areaspresentedin the reportsin the investmentrealestatesection.
• 1. The value shown is excluding the residential component.

I C R Summary of Data Estimate in Main Projects Projects under construction/marketing (Table 1) (5) (4)

Projected surplus balance Upon project completion after (5) tax in NIS thousands	Projected gross profit rate from balance of gross profit not yet recognized	Projected gross profit balance not yet recognized in NIS thousands	Projected revenue balance as of September 30, 2025, in NIS thousands	Balance of inventory in books as of September 30, 2025 (ICR Share) in NIS thousands	Estimated date for cash withdrawal from the project	Marketing scope Near the date of publication of the latest financial report (***)	Marketing scope as of September 30, 2025 (**)	Status	ICR Share in the project	Project name
-	16%	1,728	10,812	7,541	2024	99%	99%	Occupied	100%	Yam, Bat Yam	1
-	-	-	-	-	2025	100%	100%	Occupied	100%	Jerusalem Blvd. Jaffa	2
-	-	-	-	-	2024	100%	100%	Occupied	100%	Hagefen, Bar Kochba Herzliya (Stage A) ( 6)	3
58,967	42%	7,082	16,739	-	2025	98%	98%	In occupancy stages	100%	Hagefen, Bar Kochba Herzliya (Stage B) ( 6)	4
-	13%	116	890	-	2025	100%	100%	Occupied	100%	1 OCEAN PARK, Netanya	5
41,225	39%	225	576	-	2025	98%	98%	In occupancy stages	100%	2 OCEAN PARK, Netanya	6
7,875	12%	4,057	33,618	6,319	2025	89%	89%	In progress	100%	Hamesila, Herzliya	7
173,091	30%	287,597	965,232	332,880	2028	71%	71%	In progress	100%	Hahistadrut (Air), Givatayim ( 7)	8
14,843	18%	22,139	125,511	3,514	2028	39%	33%	In Marketing	100%	Tel Hashomer (Serenity), Ramat Gan (11)	9
47,163	17%	64,185	368,171	14,829	2029	14%	14%	In Marketing	100%	Idmit (Jasmin), Givatayim (11)	10
152,246	22%	225,947	1,035,147	74,508	2029	44%	39%	In Marketing	100%	Hanatka (Pastoral), Jerusalem	11
288,872	16%	182,752	1,135,074	614,578	2028	71%	71%	In progress	50%	North Park, Neve Gan Stage A - Residential, lots 28-30 (8),(9)	12
									75%	North Park, Neve Gan Stage A - Residential, lot 27
221,669	12%	114,674	982,681	613,532	2028	39%	36%	In progress	50%	North Park, Neve Gan Stage B (10) (Eve)	13
1,005,951		910,502	4,674,451	1,667,701

I C R Summary of Data Estimate in Main Projects

Land reserves (Table 2)

Projected surplus balance at the project end,		Projected gross profit balance not yet	Projected revenue balance ( 100%) as of September	Carrying value as of September	Estimated date for cash	Project construction rights		ICR Share
after tax in NIS (5) thousands	Gross profit rate	recognized ICR Share in NIS thousands	30, 2025 ICR Share in NIS thousands	30, 2025 ICR Share in NIS thousands	withdrawal from the project	Requested planning status	Current planning status	in the project	Project name
TBD	TBD	TBD	TBD	85,161	Not yet determined	The proposed city building plan documents include 24,188 sq.m (residential - 8,811 sq.m, commercial and hotel - 15,377 sq.m). The objection period to the plan has ended. A hearing on the objections is scheduled for the fourth quarter of this year.	Approx. 3,600 sq.m	33%	Herbert Samuel, 1 Tel Aviv
32,488	18%	62,167	339,426	321	Not yet determined	Nearing submission of design plan and authority approval, projected approx. 4 months.	Approx. 200 residential units and public spaces	100%	Complex 12, 2 Netanya (12)
39,823	19%	76,488	412,906	-	Not yet determined	A local authority city building plan that is in the process of being coordinated with the local committee in preparation for a deposit hearing.	Agricultural land	100%	Ha'ari, 3 Netanya (13)
288,363	13%	166,144	1,259,439	705,638	Not yet determined	256 residential units and 864 sq.m commercial Committee decisions were made for a full permit for lots 18-20. Permit is expected during 2026.		100%	North Park, Neve Gan Ramat Hasharon 4 (Stage C) (14)
360,674		304,799	2,011,771	791,120		Total

ICR Summary of Data Estimate in Main Projects

Urban renewal over 67% signatures (Table 3)

Projected surplus balance at the completion of the project after tax in thousands of (ICR Share) NIS thousands (5)	Projected gross profit of apartments in inventory (ICR Share) in NIS thousands	Projected revenue (ICR's Share) in NIS thousands	Average sale price per sq.m, excl. VAT	Planning status	Rate of tenants who agreed and signed	Primary dependencies to start the project	Project Description
							sq.m commercial and office for marketing	Apartments for marketing	Apartment s in the projects	Project name
56,131	105,306	618,460	21,588	Approved city building plan The design plan was approved under conditions that do not delay the initiation of the permit application. An application for a full permit has been initiated for half of the complex (southern part).		100% agreement from the residents, signing financing agreements Approval of new city building plan and construction permit	1,195	262	310	Hatzofim Complex, Lod	1
40,478	73,606	424,645	26,393	City building plan is approved. An application for an excavation and disposal permit has been submitted.	93%		528	129	191	Dizengoff Hameyasdim, Netanya	2
110,535	225,909	1,370,979	23,488	The local committee signed the plan documents and they were submitted to the district committee, and passed the preconditions. In November 2025, the plan will be referred to the committee.			4,306	588	756	Gapnov Complex, Ashdod	3
86,400	136,758	741,390	32,096	A plan for the unification and division of the complex was approved. Additionally, the design plan for the complex was discussed by the local committee and condittionally approved. A digging and excavation permit application has been initiated.	99%		1,650	395	560	Rothschild, Bat Yam (**)	4
151,493	251,411	1,156,512	31,672	An excavation and disposal permit was approved by the local committee in January 2025; ICR is working on fulfilling the conditions for receiving the permit. At the same time, an amended city building plan for additional floors and additional residential units (474 units instead of 440). An objections hearing for this city building plan is scheduled for November 2025. An application for a full permit was received by the local committee.	98%		1,172	324	474	Katamonim, Jerusalem	5
24,674	41,050	176,571	34,050	The city building plan is under the authority of a local committee which is entrusted with its deposit. ICR is working on completing the conditions for submitting the plan.	73%		125	50	74	86 Bar-Kochva Street, Herzliya	6
49,288	79,922	413,770	50,383	In October 2023, the design plan was approved, ICR submitted an application for building permits, which was approved by the committee and is now in the design review process with the Control Institute. The permit is expected in Q1 2026.	96%		-	70	166	33-39 Brodetsky Street, Tel Aviv	7
38,083	68,996	349,542	33,861	A plan under the authority of a local committee. The city building plan was deposited on April 21, 2023 and approved for validity. ICR is currently working on a design and planning plan for a building permit.	88%		-	114	170	Gordon (Rabbi Akiva), Herzliya	8
35,913	67,599	371,807	28,891	The plan was recommended for submission to the district committee.	98%		520	114	171	Kukis, Bat Yam	9
122,926	253,297	1,749,063	25,755	The city building plan was approved and the planning process has commenced for the approval of the complex plan.	90%		1,300	646	918	Katznelson, Yehud	10
39,417	78,212	506,304	34,847	The city building plan has been approved for validity and the planning process has begun, together with the Ramat Gan Municipality to submit a design plan.	87%		370	128	200	Abba Hillel Rashi, Ramat Gan	11

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ICR Summary of Data Estimate in Main Projects Urban renewal over 67% signatures (Table 3) (cont.)

Projected surplus	Projected gross profit						Project Description
balance at the completion of the project after tax in thousands of (ICR share) NIS thousands (5)	of apartments in inventory (ICR Share) in NIS thousands	Projected revenue (ICR's Share) per sq.m, excl. VAT in NIS thousands		Planning status	Rate of tenants who agreed and signed	Primary dependencies to start the project	sq.m commercial and office for marketing	Apartment s for marketing	Apartments in the projects	Project name
55,831	114,257	707,834	27,125	The city building plan, under the authority of the Netanya Local Committee, is in the process of preparing the plan documents for submission.	88%		484	213	325	Salomon, Netanya	12
88,783	165,220	850,928	30,884	City building plan documents were submitted to the District Planning Bureau for a threshold condition review. ICR is also filing an objection to the new TA 5500 Master Plan.	73%		400	292	454	Somken, Tel Aviv	13
68,890	134,937	782,020	36,443	The plan is under the authority of a local committee. A pre-ruling is taking place with the local and district committees in preparation for selecting a preferred planning alternative.	78%		-	237	385	Frug, Ramat Gan	14
133,906	217,560	798,533	44,372	ICR is holding coordination meetings with the local committee departments to promote the city development plan.	74%		44,410	68	137	Pininat Ayalon, Tel Aviv	15
133,671	251,289	1,337,632	36,185	Plan documents were submitted to the local committee to review threshold conditions for the project.	75%	100% agreement from the residents, signing financing	1,078	401	(645)	Meonot Sarah, Herzliya	16
32,039	73,272	519,237	32,822	The plan is under the authority of a local committee. A pre-ruling is taking place with the local and district committees in preparation for selecting a preferred planning alternative.	77%	agreements Approval of new city building plan and	191	158	257	Hara-Negba, Ramat Gan	17
113,650	223,815	1,428,523			76%	construction permit	255	640	839	Haifa Struma (Stage A)	18
131,391	255,358	1,525,773	20,984	The plan was conditionally approved**	74%		1,195	664	853	Haifa Struma (Stage B)	19
129,260	236,181	1,250,429			69%	1,460		500	660	Haifa Struma (Stage C)	20
77,790	137,936	642,863	31,171	The plan is in the pre-ruling stage. Discussions are underway with the local authority on the matter.	67%	-	500	218	346	Hahagana Road, Tel Aviv	21
73,221	138,624	730,831	24,515	The shadow plan was discussed by the local committee.	69%		-	262	350	Havered A, Or Yehuda	22
59,768	139,993	1,007,343	30,443	The plan has been submitted.	70%		405	347	522	Rabbi Akiva Rasko, Holon (including commercial)	23
70,894	132,293	688,940	42,060	ICR began working to prepare a master plan under the authority of the District Committee. At this point, a pre-ruling vis-a-vis the local committee began.	75%		-	178	290	Mishmar Hayarden, Givatayim	24
1,924,432	3,602,801	20,149,929					61,544	6,998	10,053	Total

^* Israel Canada holds 42.5% of ICR.

^** Information published for the first time.

ICR Summary of Data Estimate in Main Projects Urban renewal under 67% signatures (Table 4)

Projected surplus balance After tax Upon completion of the project NIS thousands (5)	Projected gross profit ICR Share in NIS thousands							Project De	scription
		Projected Average sale price per sq.m ICR Share Excluding VAT in NIS thousands		Planning status	% Signatures	Primary dependencies to start the project	Sq.m. Commerc e and offices In Marketin g	Apartme nts In Marketin g	Apartments in the project	Project name
79,330	146,487	732,044	24,515	The shadow plan was discussed by the local committee.	50%		-	262	350	Havered B, Or Yehuda	1
101,892	187,356	928,029	39,274	A detailed city building plan has been approved in the district. ICR intends to promote a consolidation and division plan in the local committee.	12%		12,137	424	736	Enzo Sereni, Givatayim**	2
10,134	19,479	105,297	58,175	Early stages of planning.	61%		425	19	29	De Haas, Tel Aviv	3
18,987	33,738	154,856	59,998	Upon signing the required majority, the Company intends to submit building permits according to the Tel Aviv neighborhood plan. Early planning to initiate a permit application.	54%	100% agreement from the residents, signing financing agreements Approval of new city building plan and construction permit		33	61	Pinkas, Tel Aviv	4
32,844	68,503	593,358	47,215	ICR intends to promote a detailed plan for the project in coordination with the Tel Aviv Municipality.				50	117	Har Zion/Ha'amal, Tel Aviv	5
18,944	46,784	356,391	47,650	ICR intends to promote a plan for the project in coordination with the Tel Aviv Municipality.	45%		-	88	168	Pirchei Aviv, Tel Aviv	6
8,268	31,170	320,949	43,123	The plan is in the pre-ruling stage.	66%		383	100	180	Hagibor Ha'almoni, Tel Aviv	7
51,583	103,291	599,699	26,959	The plan is in the pre-ruling stage with the local committee in order to select an agreed planning alternative.	66%		550	207	301	Sheshet Hayamim, Netanya	8
321,982	636,808	3,790,623					48,595	1,183	1,942	Total

I C R Summary of Data Estimate in Main Projects

Footnote

• 1. ICR is held by the Company at a rate of 42.5% indirectly, and appears in the financial statements under investment in associates.
• 1. On November 25, 2024, ICR enteredinto an agreementwith a third party unrelatedto thecompany and/orits controlling shareholdersto sell its full rights in theland called "French Hill Jerusalem,"in exchange for a sum of NIS 300 million plus VAT . On June 11, 2025, the city building plan putforward for theland was approved. On September25, 2025, thetransactionwas completedand the remaining consideration was received in exchange for thedelivery of theland to thepurchaser. For furtherdetails,seeNote 5 (k) to thesummary financial statementsof Israel Canada Rem Projects Ltd., as of September30, 2025.
• 1. On February 10, 2025, an agreementwas signed betweenICR and thepartnerin thereal estatelocatedon Salame Streetin Tel Aviv and a third party for thesale of thereal estate(ICR and thepartnereach hold 50% of the real estate),in consideration for a total of NIS 67.5 million plus VAT . During the first half of the year, the conditions precedentto the transactionwere paid. Therefore, during the month of July following the reportdate,the balance of the considerationin the amountof approx. NIS 61 million plus VAT was paid. For furtherdetails,see Note 5(a) to the summary financial statementsof Israel Canada Rem Projects Ltd., as of September30, 2025.
• 1. The grossprofitdoesnotincludetheadvertisingandmarketingcostsoftheproject.
• 1. The projectsurplusbalancerepresentstheequityinvestedandtheexpectedprofitbeforetax,netof amountsreleasedanddrawnfromthefinancingaccount.
• 1. HagefenProject,StageA andB The datadoesnotincludecommercialspacesshownaccordingtotheStageA fair valuein a totalamountof approx. NIS 27 million,StageB theamountof approx. NIS 17 million as of September30, 2025.
• 1. In theHistadrutAir Givatayimproject– thefinancialdatais fortheresidentialapartmentprojectportiononly. The datadoesnotincludecommercialspacesshownaccordingtofair valuein a totalamountof approx. NIS 15 million,asof September30, 2025.
• 1. NorthPark StageA ICR 's sharein theprojectis 50% in thethreelots(28–30), which include378 apartments,and75% in theadditionallot 27, which includes170 apartments. The datadoesnotincludecommercialspaces shownaccordingtofair valuein a totalamountof approx.NIS 27million,asof September30, 2025(ICR 'sshare). In Lot 29 – During August2025, ICR receivedanexcavationanddigging permitin thislot.Marketinghasnot yetbegunonLot 29, whichincludes79 units.
• 1. ItshouldbenotedthatICR's surplusin theParkNorthStageA projectis lienedtoaninstitutionalbodyforthebenefitof a loanreceived,whosebalanceasof September30, 2025, is NIS 141million.
• 1. NorthPark StageB ICR 's sharein theprojectis 50% in thefourlots(23- 26),whichinclude401 apartments. Marketinghasnotyetbegunon Lot 23, including70 units. The datadoesnotincludecommercialspacesshown accordingtofair valuein a totalamountof approx.NIS 7 million,asof September30, 2025(ICR 's share).
• 1. In theSerenity,Jasmin projects- thesalescontractsareconditionaluponthecompletionof conditionalconditions,which include,amongotherthings,obtaininga buildingpermit. The salescontractscan be canceledif the conditionsarenotfulfilledin theperiodbetween12 and24monthsfromthedateofsigningthesalesagreement.
• 1. Complex12 Project,Netanya- Combinationtransaction,whileICR 'sshareis approx. 55%.
• 1. Ha'ariProject,Netanya- Combinationtransaction,whileICR 'sshareis approx. 60%.
• 1. NorthPark StageC ICR 's sharein theprojectis 100% in thethreelots(18- 20),whichinclude256apartments,is 100%. The datadoesnotincludecommercialspacesshownaccordingtofair valuein a totalamountof approx. NIS 25million,asof September30, 2025(ICR 's share).