Shikun & Binui — Capital/Financing Update 2025

Sep 4, 2025

This is an unofficial AI generated translation of the official Hebrew version and has no binding force. The only binding version is the official Hebrew version. For more information, please review the legal disclaimer.

September 4, 2025

SHIKUN & BINUI LTD. (the "Company")

To:

Israel Securities Authority Via MAGNA

TEL AVIV STOCK EXCHANGE LTD Via MAGNA

Dear Sir/Madam,

Re: Results of the Tender for Classified Investors for the Issuance of Bonds (Series 11)

Further to the immediate reports published by the Company on August 17, 2025, September 2, 2025, and September 3, 2025 (Reference Nos.: 2025-01-060931, 2025-01-066442, and 2025-01-066631, respectively), regarding the examination of the possibility of raising debt from the public by way of issuing a new series of bonds (Series 11), the Company is pleased to report as follows:

1. On September 4, 2025, a tender was held to receive early commitments from classified investors, as defined in Section 1 of the Securities Regulations (Manner of Offering Securities to the Public), 2007 ("Classified Investors").

2.

Institutional Tender Result:

The bonds (Series 11) were offered to classified investors in units, each including NIS 1,000 par value of bonds (Series 11), by way of a tender on the interest rate to be borne by the bonds. In the framework of the tender, orders were received for the purchase of 686,678 units, of which the Company intends to accept (subject to receiving an updated rating report from Maalot, as detailed below) early commitments from classified investors to purchase 308,268 units, at a price of NIS 1,000 per unit, and so that the annual interest rate to be borne by the bonds will not exceed 5.52%, which will constitute the maximum interest rate to be borne by the bonds (Series 11) in the public tender (if held). It is clarified that the final interest rate to be borne by the bonds (Series 11) will be determined in the public tender (if held).

This is an unofficial AI generated translation of the official Hebrew version and has no binding force. The only binding version is the official Hebrew version. For more information, please review the legal disclaimer.

1. In light of the scope of demand in the tender for classified investors as stated, the Company approached Maalot with a request to increase the total issuance framework set by it in the rating report dated August 17, 2025, so that it will amount to up to NIS 309 million par value.

2. It is clarified that the public offering of the Company's bonds (Series 11), if held, will be made within the framework of a shelf offering report which may be published according to the Company's shelf prospectus dated May 31, 2024 (Reference: 2024-01-055282), by way of a uniform offering. In addition, the execution of the issuance and the publication of the said shelf offering report, according to which the issuance will be made, are subject to receiving Maalot's approval for the said increase and the approval of the TEL AVIV STOCK EXCHANGE LTD, which as of this date have not yet been received, and it is clarified that as of the date of this report there is no certainty regarding the actual execution of the fundraising, its scope, and its timing.

3. This immediate report does not constitute an offer to purchase securities or an invitation to submit offers to purchase them or any commitment by the Company to carry out the said issuance.

Respectfully,

SHIKUN & BINUI LTD.

Signed by:

Amit Birman, CEO

Hila Tirosh, Deputy CEO & Legal Counsel

Date: September 4, 2025