Kamada Ltd. — Capital/Financing Update 2015

May 12, 2015

EXHIBIT 99.3

Disclosure for debenture holders as of March 31, 2015

1. Summary of Financial Undertakings (according to repayment dates) as of March 31, 2015

Israeli Securities Law Regulations (Periodic and Immediate Reports) 38e

• a. Convertible debentures issued to the public by the Company and held by the public.

	Principalpayments	Grossinterestpayments(withoutdeductionof tax)	Total
	ILS
oneyear	30,246,082	1,432,430	31,678,512
Total	30,246,082	1,432,430	31,678,512

• b. Bank guarantees as of March 31, 2015, totaling US $169 thousand

2. Details with Regard to Company Debentures

Israeli Securities Law Regulations (Periodic and Immediate Reports) 10(b)13 and 48c(12)

Issue Date	Par valueatissuance(USDollar)	Accumulated interest(US Dollar)	Book value(US Dollar)as ofMarch 31,2015	MarketValue (USDollar) asof March31, 2015	Interest paymentdates	Principalpaymentschedule	Type ofinterest	Convertedto anothersecurity
10/18/2009	25,125,628	39,599	7,411,309	7,850,251	Quarterly payments onthe outstanding debt, onMarch 1st, June 1st,September 1standDecember 1stof 2015.	one installment onDecember 1,2015.	Bears annualinterest at avariable rate,plus annualmargin of6.1% abovethe annualinterest ratefor IsraeliGovernmentDebentures(Series 817)for eachinterestperiod.	Yes

3. Details with Regard to the Trustee

MISHMERET TRUST COMPANY LTD, No. Corporate 51-377133-7, Address: 46-48 Menachem Begin, Tel Aviv, Israel Contact information: Rami Sebty, Vice President, Telephone No.: 972-3-6374355, Fax No.: 972-3-6374344, e-mail: ramis@bdo.co.il

4. Conversion of convertible debentures

Security Details	Conversion ratio	Major Conversion Details
Ordinary shares of NIS 1 par value	From December 2nd, 2012 to November 15th, 2015,each NIS 37.12 par value debentures (Series C)may be convertible into one ordinary share of NIS 1par value of the Company.	Debentures may be converted each trading day fromregistration of the Debentures until November 15th,2015 except during November 16thto December 1stofeach of the years 2013 and 2014.

5. At the end of the reporting period and during such reporting period the Company has complied with all the conditions and obligations under the trust deed.