Max Stock Ltd.

Major Shareholding Notification • Oct 19, 2025

MAX STOCK LTD.

Registration number: 513618967

To: Israel Securities Authority To: Tel Aviv Stock Exchange Ltd. Form number: T076 (Public) Filed on MAGNA: 19/10/2025

Israel Securities Authority website: www.isa.gov.il Tel Aviv Stock Exchange website: www.tase.co.il

Reference: 2025-01-076683

Immediate Report on Changes in Holdings of Interested Parties and Senior Officers

Regulation 33(b) of the Securities Regulations (Periodic and Immediate Reports), 1970

Note: This form is intended for reporting changes in holdings of securities of the reporting corporation only. To report changes in holdings of securities of a subsidiary of the reporting corporation, if its activity is material to the activity of the reporting corporation, use Form T121.

1

• Name of corporation / Surname and first name of holder: Nir Dagan
• Name of corporation / Surname and first name of holder in English as registered with the Companies Registrar or in the passport: Nir Dagan
• Type of identification number: Identity card number
• Holder's identification number: 043376904
• Type of holder: Senior officer who is not ^a CEO or director and is not an interested party by virtue of holdings
• The hedge fund has the right to appoint a director or its representative to the company's board:
• Is the holder acting as a representative for the purpose of reporting on several shareholders holding together securities of the corporation: No
• Name of controlling shareholder in the interested party:
• Identification number of controlling shareholder in the interested party:
• Citizenship / Country of incorporation or registration: Private individual with Israeli citizenship
• Country of citizenship / incorporation or registration:
• Security number on the stock exchange: 1171263
• Name and type of security: MAX STOCK LTD. Series 2020 Option Warrant
• Nature of change: Decrease Other

_________

• Details: Exercise of warrants

• Note: Purchase or sale of shares on the stock exchange by way of a matched transaction, as defined in the third part of the stock exchange regulations, will be classified as an off-exchange transaction, with disclosure in the free text field that the transaction was carried out in this way.

• Is this a change in a single transaction or multiple transactions (cumulative change): Single transaction

• Date of change: 16/10/2025
• Transaction price:

123.45

Currency: Agorot

• Are these dormant shares or securities convertible into dormant shares: No
• Balance (in number of securities) in the last report:

23,987

Holding percentage of total securities of the same type in the last report: 2.42%

Change in number of securities:

2,500 -

Current balance (in number of securities):

21,487

Current holding percentage of total securities of the same type: 2.20%

Holding percentage after the change:

In capital: 0%

In voting rights: 0%

• Explanation: The holding percentage after the change does not refer to convertible securities.
• Holding percentage after the change on a fully diluted basis:

In capital: 0.02%

In voting rights: 0.02%

Note number:

• Name of corporation / Surname and first name of holder: Nir Dagan
• Name of corporation / Surname and first name of holder in English as registered with the Companies Registrar or in the passport: Nir Dagan
• Type of identification number: Identity card number
• Holder's identification number: 043376904
• Type of holder: Senior officer who is not ^a CEO or director and is not an interested party by virtue of holdings
• The hedge fund has the right to appoint a director or its representative to the company's board:
• Is the holder acting as a representative for the purpose of reporting on several shareholders holding together securities of the corporation: No
• Name of controlling shareholder in the interested party:
• Identification number of controlling shareholder in the interested party:
• Citizenship / Country of incorporation or registration: Private individual with Israeli citizenship
• Country of citizenship / incorporation or registration:
• Security number on the stock exchange: 1168558
• Name and type of security: MAX STOCK LTD. Ordinary Share
• Nature of change: Increase Other

_________

• Details: Exercise of warrants

• Note: Purchase or sale of shares on the stock exchange by way of a matched transaction, as defined in the third part of the stock exchange regulations, will be classified as an off-exchange transaction, with disclosure in the free text field that the transaction was carried out in this way.

• Is this a change in a single transaction or multiple transactions (cumulative change): Single transaction

• Date of change: 16/10/2025
• Transaction price:

2,400

Currency: Agorot

• Are these dormant shares or securities convertible into dormant shares: No
• Balance (in number of securities) in the last report:

0

Holding percentage of total securities of the same type in the last report: 0%

Change in number of securities:

2,370 +

Current balance (in number of securities):

2,370

Current holding percentage of total securities of the same type: 0%

Holding percentage after the change:

In capital: 0%

In voting rights: 0%

• Explanation: The holding percentage after the change does not refer to convertible securities.
• Holding percentage after the change on a fully diluted basis:

In capital: 0.02%

In voting rights: 0.02%

Note number:

• Name of corporation / Surname and first name of holder: Nir Dagan
• Name of corporation / Surname and first name of holder in English as registered with the Companies Registrar or in the passport: Nir Dagan
• Type of identification number: Identity card number
• Holder's identification number: 043376904
• Type of holder: Senior officer who is not ^a CEO or director and is not an interested party by virtue of holdings
• The hedge fund has the right to appoint a director or its representative to the company's board:
• Is the holder acting as a representative for the purpose of reporting on several shareholders holding together securities of the corporation: No
• Name of controlling shareholder in the interested party:
• Identification number of controlling shareholder in the interested party:
• Citizenship / Country of incorporation or registration: Private individual with Israeli citizenship
• Country of citizenship / incorporation or registration:
• Security number on the stock exchange: 1168558
• Name and type of security: MAX STOCK LTD. Ordinary Share
• Nature of change: Decrease Other

_________

• Details: Due to sale on the stock exchange

• Note: Purchase or sale of shares on the stock exchange by way of a matched transaction, as defined in the third part of the stock exchange regulations, will be classified as an off-exchange transaction, with disclosure in the free text field that the transaction was carried out in this way.

• Is this a change in a single transaction or multiple transactions (cumulative change): Single transaction

• Date of change: 16/10/2025
• Transaction price:

2,400

Currency: Agorot

• Are these dormant shares or securities convertible into dormant shares: No
• Balance (in number of securities) in the last report:

2,370

Holding percentage of total securities of the same type in the last report: 0%

Change in number of securities:

2,370 -

Current balance (in number of securities):

0

Current holding percentage of total securities of the same type: 0%

Holding percentage after the change:

In capital: 0%

In voting rights: 0%

• Explanation: The holding percentage after the change does not refer to convertible securities.
• Holding percentage after the change on a fully diluted basis:

In capital: 0.02%

In voting rights: 0.02%

Note number:

Note: If the value "increase due to forced purchase of loaned securities" or "decrease due to forced sale of loaned securities" is selected, then loaned securities not returned to the lender, and thus the lending action became a forced purchase and the lending action a forced sale.

No.	Note
1

_________

_________

_________

1. Was the entire consideration paid at the time of the change? Yes

If not all the consideration was paid at the time of the change, please specify the date of completion of payment:

1. If the change is by way of signing a loan agreement, please specify details regarding the manner of ending the loan:

Explanation: Please specify the holding percentages taking into account all securities held by the interested party.

• 1. The date and time the corporation first became aware of the event or matter: 16/10/2025 at 18:32
• 1. Details of the actions that caused the change:

Details of authorized signatories on behalf of the corporation:

	Name of Signatory	Position
1	Yifat Nir Katz	Other
		Deputy CEO, Chief Legal Counsel and Company Secretary

Explanation: According to Regulation 5 of the Periodic and Immediate Reports Regulations (1970), a report submitted under these regulations must be signed by those authorized to sign on behalf of the corporation. The staff's position on the matter can be found on the Authority's website: Click here.

Previous reference numbers of documents on the subject (the mention does not constitute inclusion by reference):

Securities of the corporation are listed for trading on the Tel Aviv Stock Exchange

Short name: MAX STOCK LTD.

Address: Hashita 16, P.O. Box 3594, Caesarea 3089900

Phone: 073-7695176 Fax: 04-8241792

Email: ifat@maxstock.co.il

Company website: www.maxstock.co.il

Previous names of the reporting entity: MAX Management Israel Ltd.

Electronic reporter name: Katz Yifat

Position: Legal Advisor and Company Secretary

Employer company name:

Address: Hashita 16, Caesarea 3088900

Phone: 054-4909365 Fax: 04-8241792

Email: ifat@maxstock.co.il

Form structure update date: 04/02/2025