Tel Aviv Stock Exchange Ltd. — Board/Management Information 2021

Dec 5, 2021

December 5, 2021 401535

This is an English translation of a Hebrew Immediate report, that was published on December 5, 2021 (hereafter: "the Hebrew Version").

This English version is only for convenience purposes. This is not an official translation and has no binding force. Whilst reasonable care and skill have been exercised in the preparation hereof, no translation can ever perfectly reflect the Hebrew Version. In the event of any discrepancy between the Hebrew Version and this translation, the Hebrew Version shall prevail.

Re: Election of a Candidate for the Office of Chairman of the Board of Directors of the Company

Pursuant to the stated in section 4.3 of the Periodic Report of the Company as of September 30, 2021, published on November 22, 2021 (reference no.: 2021-01-169596) in connection with the early retirement of the former Chairman of the Board of Directors of the Company and the resolution of the Board of Directors of the Company to conduct a process for the nomination of candidates to succeed him in this position, which would be handled by a special committee of the Board of Directors of the Company (hereafter: "the Nominating Committee"), commensurate with the appointment of Mr. Arik Steinberg, who serves as a director in the Company, as the Interim Chairman of the Board of Directors of the Company, the Company updates that, on December 5, 2021 the Board of Directors of the Company has unanimously decided to adopt the recommendation of the Nominating Committee to elect Mr. Steinberg for the position of Chairman of the Board of Directors of the Company.

To the date of the report, Mr. Steinberg serves in the position of Interim Chairman of the Board of Directors of the Company and is entitled to directors' remuneration similarly to the other directors in the Company. In view of Mr. Steinberg's election, the Audit Committee of the Company, also in its capacity as Compensation Committee, intends to discuss with Mr. Steinberg the terms of his employment and office as Chairman of the Board of Directors of the Company, and once such terms are agreed upon, to obtain all of the approvals that are required by law therefor, including a five-year office term, in accordance with the provisions of Section 50B6.(b) of the Securities Law, 1968.

The Board of Directors of the Company wishes Mr. Steinberg a successful term in office.

Signed by: Sigal Berliner Levinson Corporate Secretray