Reit 1 Ltd.

Investor Presentation • Sep 3, 2023

PRESENTATION COMPANY 30.6.2023

ISRAEL IN TRUST INVESTMENT ESTATE REAL LEADING AND FIRST THE – 1 REIT

ISRAEL IN TRUST INVESTMENT ESTATE REAL FIRST THE

DISCLAIMER

.("Law Securities ("1968 ,Law Securities the in defined as information looking-forward contains presentation This as well as - Company the by estimates and assessments ,forecasts various ,others among ,includes information This whole in ,information this of materialization The .tables or/and graphs or/and schemes through presented information from ,different substantially or ,different form a take may and ,control s'Company the outside and uncertain is ,part in or .presentation the in presented is it which in way the

view subjective their and management s'Company the of estimates the on ,factors other among ,rests information This the concerning information of analysis on and how-know professional and experience their on ,others among ,based the to known as all ,data and facts macroeconomic on as well as ,plans work ,businesses s'Company the of state current .presentation this preparing of time the at management s'Company

s'Company the outside and ,risks materialization-non significant to subject ,uncertain ,definition by ,is information looking-forward This among ,influenced be could materialization-non or materialization its and ,accuracy with predict to impossible ,uncertain is It .control or plans business s'Company the in changes by ,)2022 for report periodic the in described as (factors risk s'Company the by ,others or/and update to undertake not does Company The .Company the affecting environment general the in developments by and strategy after occurring circumstances or/and events reflect them have to order in estimate or/and assessment or/and forecast such any revise .presentation this of time the

Company buy to public the to invitation an or public the to offer an ,as construed be not shall and ,constitute not does presentation This does presentation this of content The .purposes informative for intended solely is and ,offers such receive to invitation an or securities information the all cover to pretend it does nor ,discretion investor for substitute a or opinion an or recommendation a constitute not this in information The .securities s'Company the regarding decision investment of kind any making for relevant be might that ,periodic its in provided as Company the about information complete the substitute to serve not does and summary a is presentation .reports immediate and quarterly

the is version binding The .information financial full the include which statements financial the substitute not does presentation This

.Hebrew in one

ESTABLISHMENT

OVERVIEW

Estate Real first s'Israel as 2006 in Established Trust Investment

EXCHANGE STOCK

2006 since TASE on Traded Real - TA 125, - TA :indices following the in Included 40 Bond Tel and Div Tel ,CRE Israeli - TA ,Estate

PRODUCING INCOME PROPERTIES

billion 7.7 NIS value' assets Total rate occupancy 97.1% ,sqm 591,000

RATING

Negative/ilAA P&S Maalot

RATE CAP

6.54% - rate cap average Weighted

DIVIDENDS

policy distribution dividend Quarterly million 159 NIS 2023: for dividend Minimum (2022 in 0.80 NIS .vs* share per 0.82 NIS( **5.0% - yield Dividend - inception since distributed Dividends billion 1.3 NIS

EQUITY

billion 3.8 NIS - equity total ,resilient Financially (share per 19.67 NIS(

YIELD FFO ADJUSTED

**9.5% - 2023 for Projected

• the on shares of number the to According of board to subject is and date resolution .distribution each to prior approval' directors *
• share to relative are yields FFO and Dividend to according ,FFO 2023. 10, August of as price see approach s'ISA for ,approach management 21. slide --**
• .statements consolidated expanded on Based
• are anana'Ra in renovation under are that sqm 82,000 .rate occupancy the and GLA total the in included not

ACROSS & SECTORS GEOGRAPHIC REGIONS

.statements

OF PROVISIONS TO SUBJECT :LAW ISRAELI REIT THE

• (LTV (60% to up of leverage Maximum–
• of 5% to limited activity Development– portfolio its
• shareholders controlling No–
• obligation distribution Dividend–
• tax corporate from Exemption–
• the by only paid taxation level Single– shareholders

:STRATEGY GROWTH

• Israel in Only–
• & sectors ,markets Diversified– regions Geographic
• regulation to subject Development–
• of upgrade and Refurbishment– properties existing

STRATEGY FOCUSED

Offices Retail homes Nursing logistics & Industrial Parking Hospitality

PARK INFINITY ANANA'RA

• acres 55 .Approx–
• sqm 150,000 Offices–
• area Recreational & Dining acres 1.5 ,sqm 10,000
• main via accessibility High within station Train .roads .park the

Tower Infinity 1. Campus Infinity 2. Plaza Infinity 3.

(share 50% (Tower Infinity

2023 AUGUST IN COMPLETED million 400 NIS-ca (million 470 NIS :COST ESTIMATED

sqm 60,000 :GLA (invested SILVER LEED

66% :*RATE OCCUPANCY AREA DINING A WITH PARK GREEN (invested million 8 NIS-ca (million 35 NIS :COST ESTIMATED

(share 66% (Campus and Plaza Infinity

2024 mid until expected works Upgrading

sqm 90,000 :GLA (invested

million 62 NIS-ca (million 230-250 NIS :cost Estimated

28% :*rate Occupancy

from NOI yearly Expected full assuming park the 70-75 NIS is occupancy million

.date issue s'report the of As *

the to subject is included information looking Forward .presentation this of 2 page on disclaimer -

DIVERSIFIED PORTFOLIO OFFICES

TLV ,Tower Hayovel

sqm 67,000 :GLA 50% :share Ownership

TLV ,ah'arba'Ha sqm 17,000 :GLA (50% parking (35% :share Ownership

TLV ,Rothschild

sqm 23,000 :GLA 50% :share Ownership

TLV ,Frish Daniel sqm 20,000 :GLA

(80% parking (65% :share Ownership

DIVERSIFIED PORTFOLIO OFFICES

Herzliya ,Hamenofim

sqm 17,000 :GLA 50% :share Ownership

Herzliya ,Sapir

sqm 7,500 :GLA 100% :share Ownership

TLV ,Hachayal Ramat

sqm 10,000 :GLA 50% :share Ownership

TLV ,Hachayal Ramat

sqm 5,000 :GLA 100% :share Ownership

Ramat ,house s'Doctor TLV ,Hachayal

sqm 9,000 :GLA 33% :share Ownership

TLV ,Hashmonaim

sqm 8,000 :GLA 60% :share Ownership

Rishon ,Park Business East LeZion

sqm 17,000 :GLA 100% :share Ownership

Netanya ,Park Business

sqm 6,000 :GLA 100% :share Ownership

ayin'Ha Rosh

sqm 8,000 :GLA 100% :share Ownership

Lod ,Terminal Beit

sqm 8,000 :GLA 100% :share Ownership

Lod ,Hamelacha

sqm 16,000 :GLA 100% :share Ownership 2023 May in Sold

Lod ,Park Global

sqm 21,000 :GLA 50% :share Ownership

Tikva Petach ,Efal

sqm 8,000 :GLA 65% :share Ownership

RETAIL

Power Center, Afula

GLA: 22,000 sqm 0wnership share: 60%

"Lev Talpiyot" strip Mall, Jerusalem

GLA: 17,000 sqm Ownership share: 100%

Gan Yavneh strip Mall

GLA: 16,700 sqm Ownership share: 75%

Sarona Gardens, TLV

GLA: 6,200 sqm Ownership share: 50%

RETAIL HOSPITALITY

Hadera ,Mall Strip

sqm 13,400 :GLA 100% :share Ownership

Netivot ,Center Power

sqm 14,000 :GLA 100% :share Ownership

Yokneam ,Mall Strip G

sqm 16,000 :GLA 49% :share Ownership

,Center Shopping Tikva Ganey

sqm 9,000 :GLA 50% :share Ownership

in'Modi ,Center Power

sqm 11,000 :GLA 50% :share Ownership

,Mall Rothschild G LeZion Rishon

office sqm 4,500 and retail sqm 8,500 :GLA 49% :share Ownership

,Center Shopping SOHO Netanya

sqm 14,700 :GLA 50% :share Ownership

Herzliya ,Hotel PUBLICA

sqm 16,500 :GLA 50% :share Ownership

INDUSTRIAL & LOGISTICS

Teradion

GLA: 44,000 sqm Ownership share: 100%

Bar-Lev

GLA: 14,300 sqm Ownership share: 67%

Neot Hovav GLA: 18,200 sqm Ownership share: 100%

Kfar Masaryk

GLA: 31,200 sqm Ownership share: 50%

INDUSTRIAL LOGISTICS&

Tabor Alon

sqm 42,000 :GLA 50% :share Ownership

Tabor Alon

sqm 40,000 :GLA 25% :share Ownership

Tziporit

sqm 19,100 :GLA 67% :share Ownership

Tziporit

sqm 9,500 :GLA land of Acre 25 67% :share Ownership

Teradion

sqm 13,000 :GLA 100% :share Ownership

Hadera

sqm 7,000 :GLA 95% :share Ownership

Sderot

sqm 11,500 :GLA 100% :share Ownership

LOGISTICS Rishon LeZion

RENOVATION PROGESS

BEFORE

WEST DESIGN Rishon Lezion

RENOVATION PROCESS

AFTER

WEST DESIGN Rishon LeZion

DATA FINANCIAL

100% for Millions NIS In (65% is share s'1 REIT(

leased fully Assuming*

COST PURCHASE (2014 12.)

COST OVATION REN

COST AL TOT

VALUE R (.6.2023 FAI 30)

GAINS ALUATION REV

WEST DESIGN	NOI *	YIELD *
95	8 Initial	8.5% On purchase price
52
147	17	11.6% On total cost 6.5% On fair value
263	Up to date
116

NURSING HOMES

Nes Tziona

GLA: 19,000 sqm Ownership share: 80%

Nesher GLA: 22,000 sqm

Ownership share: 50%

Haifa GLA: 13,000 sqm Ownership share: 50%

Ashdod GLA: 12,000 sqm Ownership share: 100%

PARKING

,Tower Sky Aviv-Tel

spaces parking 400 90% :share Ownership

,Lot Hakikar Aviv-Tel

spaces parking 540 67.5% :share Ownership

,Tower City Gan-Ramat

spaces parking 400 100% :share Ownership

,Karta Jerusalem

spaces parking 835 100% :share Ownership

FINANCIAL DATA

30.6.2023

DATA FINANCIAL Highlights

• due mainly is NOI in increase The ,leased were that spaces vacant to segment Parking the in improvement purchased properties new as well as the despite and 2022, year the during in Park Infinity in space of evacuation ,renovation under are which ,anana'Ra .Lod in property a of sale the and *
• under space vacant a Excluding .anana'Ra in constraction **
• an and anana'Ra in renovation The are expenses Financing in increase low relatively the for reasons main the of half first the during FFO in increase second the in decrease a and year the .quarter --***

the in increase an was there ,addition In in raised capital to due shares of number 2022. August

• .otherwise stated unless ,millions NIS In
• expanded s'Company the on based Data .statements consolidated

	% Change 2022-2023	1-6/2023	1-6/2022	% Change 2022-2023	2Q 2023	2Q 2022	2022
*NOI	8.2%	213.6	197.5	3.3%	105.4	102.0	418.7
NOI same property **	9.8%	189.9	172.9	8.9%	98.1	90.1	-
FFO ISA ( directives (	16.3%	54.2	46.6	32.9%	20.2	15.2	133.5
Real (FFO management s' approach ***(	2.4%	152.5	148.9	4.9%( )	74.1	77.9	314.4
Real (FFO management s' approach per) share NIS ( ***(	2.5%( )	0.78	0.80	9.5%( )	0.38	0.42	1.67

DATA FINANCIAL FFO

.associates in Including *

• .otherwise stated unless ,millions NIS In -
• expanded s'Company the on based Data .statements consolidated -

	1H 2023	1H 2022	2Q 2023	2Q 2022	2022
Nominal FFO According to Securities Authority directives	54.2	46.6	20.2	15.2	133.5
Additional Adjustments
Share - based payment	11.2	2.0	5.6	1.0	8.7
Other Adjustments	1.6	)1.0(	1.1	)1.6(	2.3
Nominal FFO According to Management Approach	67.0	47.6	26.9	14.6	144.5
Expense of linkage differences on debt principal *	85.5	101.3	47.2	63.3	169.9
Real FFO According to Managment Approach	152.5	148.9	74.1	77.9	314.4
Real FFO According to Managment Approach NIS( per Share (	0.78	0.80	0.38	0.42	1.67
Weighted Average Number of Shares ( Millions (	193.7	185.0	193.8	185.1	188.2

DATA FINANCIAL NOI

vs forcast million 425-430 NIS forecast initial 418-428

• 48 NIS vs included million 16 NIS 'Amdocs to due 2022 in million anana'Ra in expiration lease *
• Infinity + forecast current on Based full assuming completion after Park 7. slide See .occupancy
• included information looking Forward 2 page on disclaimer the to subject is .presentation this of
• the is Income Operating Net NOI profitability accepted s'industry and leasing the for measurement revenues (properties of operation operating their minus properties from .(expenses ---**
• consolidated expanded on Based .statements

DATA FINANCIAL FFO Adjusted

vs forcast million 298-302 NIS forecast initial 290-300

• 48 NIS vs included million 16 NIS 'Amdocs to due 2022 in million anana'Ra in expiration lease *
• Infinity + forecast current on Based full assuming completion after Park 7. slide See .occupancy --**
• is included information looking Forward this of 2 page on disclaimer the to subject .presentation
• is Operations from Funds FFO Adjusted ,measurement accepted s'industry the neutralizing after income net expressing well as ,expenses and revenues off-one of expense and revaluation properties as .debt on differences linkage

FINANCIAL DATA Share Per

154-156 share per Agorot initial 150-155 vs forcast forcast

• FFO adjusted share Per
• dividend share Per
• assets Total/Equity
• vs included million 16 NIS due 2022 in million 48 NIS expiration lease' Amdocs to ,addition In .anana'Ra in the in increase an was there to Due shares of number 2022. August in raised capital *
• of number the to According date resolution the on shares Board the to subject is which to prior approval' Directors of .distribution each **

Total/Equity

FINANCIAL STRENGTH

jointly are which assets of 14% for Except .owned *

unless statements consolidated expanded on Based .stated otherwise -

equivalents cash and Cash (Solo (date issue s'report of as million 270 NIS

facilities credit Signed issue s'Report of as utilized non million 565 NIS (Solo (date

AA/il rating Series Bond

rating Credit Issuer

• Negative/ilAA 2023: August–
• Stable/ilAA 2017: July–
• Stable-/ilAA 2014: July–
• Stable+/ilA 2010: June–
• Stable/ilA 2007: May–

(IFRS (48% assets total to Equity

51% Cap to debt financial Net

debt term-long of cost average Weighted .CPI israeli the to linked 1.74% - 30.6.2023 of As years 4.3 of Duration weighted Average

2.8% debt of cost Current

CPI israeli the to linked

(10.8.2023 of as 6.6 duration ,bonds G Series(

assets All *pledges of Free

BALANCED-WELL MATURITY DEBT PROFILE

.share percentage s'Company term short include 2023-2024 .facility bank revolving *

consolidated expanded on Based .statements -

millions in NIS

OF RATE CAP PROPERTIES WEIGHTED .VS COST AVERAGE DEBT OF

• rate cap average based IFRS income s'Company from deduced properties producing
• linked CPI israeli effective Weighted (bonds (debt of cost
• of cost current linked CPI Israeli bonds G Series (10.8.2023 of as debt (6.6 duration average
• consolidated expanded on Based .statements -

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