Tel Aviv Stock Exchange Ltd. — Investor Presentation 2025

May 13, 2025

Tel-Aviv Stock Exchange (TASE) Investors Presentation

Quarter ended March 31, 2025

1

IMPORTANT: You must read the following before continuing. The following applies to the presentation with respect to The Tel-Aviv Stock Exchange Limited and its subsidiaries and affiliates (collectively, "TASE"). In accessing the presentation, you agree to be bound by the following terms and conditions.

The presentation does not constitute or form part of, and should not be construed as an offer or the solicitation of an offer to subscribe for or purchase the securities of TASE, and nothing contained therein shall form the basis of or be relied on in connection with any contract or commitment whatsoever, nor does it constitute a recommendation regarding the securities. Any investment decision in respect of the securities should be made solely on the basis of the information to be contained in the public reports of TASE.

The information in the presentation is basic and concise while the public reports of TASE contain more detailed information which may be different from, or additional to, the information contained in this presentation. In the event of any contradiction or discrepancy between the presentation and the public reports, the information in the public reports prevails. Thus, the presentation is not intended to serve as a substitute to reading TASE's public reports.

The Information contains statements and information that are forward-looking. Such forward-looking statements and information are only predictions and cannot assure TASE's future performance. Investors have been cautioned that any such forward-looking statements and information are subject to many risks and uncertainties relating to the operations and business of TASE. As a result of such risks and uncertainties, the actual results of TASE may be materially different from any future result expressed or implied in the forward-looking statement or information contained herein. Any opinions expressed in this presentation are subject to change without notice and TASE is not under obligation to update or keep current any of the forward-looking statement or information contained herein.

No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained therein. The information, including but not limited to forward-looking statements, applies only as of the date of this presentation and is not intended to give any assurances as to future results. TASE expressly disclaims any obligation or undertaking to disseminate any updates or revisions to the information, including any financial data or forward-looking statements, and will not publicly release any revisions it may make to the information that may result from any change in TASE's expectations, any change in events, conditions or circumstances on which these forward-looking statements are based, or other events or circumstances arising after the date of this document

TASE at a Glance / Q1'25 by the Numbers

Established in 1953, TASE is the only Securities Exchange in Israel and a cornerstone of its growing capital market

(1) Includes ETFs.

(2) Includes structured bonds. (3) Includes government bonds via swap transactions.

(4) Excludes TASE-UP

(5) Value of the mutual funds' assets, as recorded in the in TASE Clearing House

TASE at a Glance / Q1'25 by the Numbers

Continued

Issuance Volume

(1) Includes TASE-UP (2) Includes Private Placements

(3) Excludes companies that were listed without raising capital

4) Includes structured bonds

5) Excluding amounts raised by way of swap auctions, totaling NIS 33.7 billion, NIS 29.7 billion and NIS 1.4 billion in year ended 31.12.2024, 31.12.23 and 31.12.2022, respectively.

The results for Q1'25

NIS, in thousands

	Quarter Ended
IFRS (GAAP)	March 31, 2025	March 31, 2024	Difference -%
Revenue from services	131,030	108,293	21%
Expenses	84,844	75,367	13%
Profit before financing income, net	46,186	32,926	40%
Financing income, net	890	1,437	)38%(
Taxes on income	11,285	8,653	30%
Profit	35,791	25,710	39%
Basic EPS (in NIS)	0.390	0.278	40%
Non GAAP
Adjusted EBITDA(1)	61,831	48,568	27%
% EBITDA Adjusted margin	47.2%	44.8%
Adjusted net profit(1)	36,854	27,823	32%
% Adjusted net profit margin	28.1%	25.7%

Revenue Q1'25

NIS, in thousands

	Quarter Ended
	March 31, 2025	% of the Company's total revenues	March 31, 2024	% of the Company's total revenues	Difference - %
Trading and clearing commissions	49,490	38%	42,954	40%	15%
Listing fees and levies	24,269	18%	21,603	20%	12%
Clearing House services	31,879	24%	19,980	18%	60%
Data distribution and Connectivity services	24,519	19%	22,601	21%	8%
Other revenue	873	1%	1,155	1%	)24%(
Total revenue	131,030	100%	108,293	100%	21%

17% of the increase in revenue from trading and clearing commissions is due mainly to an increase in the trading volume of shares and derivatives and in the volume of creations/redemptions of mutual fund units, as well as to there being an additional trading day this quarter compared to the corresponding quarter last year, which increased revenue by 2%. In opposition, a reduction in the effective commission rate, mainly in relation to shares and mutual funds, reduced revenue by 4%.

8% of the increase in revenue from listing fees and levies stems from an increase in revenue from annual levies, both as a result of an increase in income from fees, which were affected by the appreciation of the listed securities, and due to the linkage of the levy rates to the CPI. In addition, an increase in revenue from listing fees, mainly due to an increase in the volumes raised by companies and ETFs and an increase in revenue from examination fees, increased revenue by 2%, each.

35% of the increase in revenues from Clearing House services stems from an increase in revenues from Clearing House services to members, both as a result of the higher volumes of activity, and due to the completion of the regulation of OTC clearing in the fourth quarter of 2024 and the linkage of the clearing rates to the CPI. In addition, 23% of the increase in revenues is due to an increase in revenues from custodian fees as a result of the increase in the value of assets held in custody at TASE-CH, as well as to the updating of the custodian fees (account management fees) pricelist and 2% of the increase in revenues is due to an increase in revenues from companies and funds.

6% of the increase in revenues from data distribution and connectivity services is due to an increase in revenues from data distribution, mainly from private and business customers in Israel, and 2% of the increase is due to an increase in revenues from authorizations to use the TASE indices, mainly as a result of the increased use of the TASE indices.

Most of the decrease in other revenue is due to the termination of the rent agreement in the first quarter of 2024.

38% Transactional

Other revenue

Q1'25 Revenue Composition

NIS, in millions

Trading and Clearing Commissions

Trading and Clearing Commissions

Revenue over the last quarters (NIS in millions) Revenue from Trading and Clearing Commissions over the last quarters (NIS in millions)

Q1'25 Revenue Composition

NIS, in millions

0% 5% 10% 15% 20%

Adjusted Expenses(*) Q1'25

NIS, in thousands

	Quarter Ended
	March 31, 2025	% of the Company's total expenses	March 31, 2024	% of the Company's total expenses	Difference -%
Compensation	44,617	53%	39,030	53%	14%
Computer and Communications	12,553	15%	10,837	15%	16%
Property Taxes and Building Maintenance	3,319	4%	3,264	4%	2%
Marketing	1,766	2%	1,341	2%	32%
Fee to the Israel Securities Authority	2,596	3%	2,092	3%	24%
General and Administrative	2,704	3%	2,485	3%	9%
Other operating expenses	1,251	2%	700	1%	79%
Depreciation & amortization	14,582	17%	13,496	18%	8%
Other	393	1%	9	0%	4267%
Total Expenses**	83,781	100%	73,254	100%	14%

(**) The total expenses include expenses in respect to share-payments expenses for share-based payments amounted to NIS 84.8 millions in Q1'25 and to NIS 75.4 millions in Q1'24.

Compensation

Computer and communication

Property taxes and building maintenance Marketing

Fee to the Israeli Securities Authority

• General and administrative
• Other operating expenses
• Depreciation and amortization Other

Financial Position and Capital & Liquidity Adequacy

as of March 31, 2025 | NIS Thousands

Assets:
Cash and cash equivalents	243,789
Financial assets at fair value through profit or loss	93,358
Trade receivables	24,832
Other receivables	19,672
Total	381,651
Assets derived from clearing operations in respect of open derivative positions	642,024
Total current assets	1,023,675
Total non-current assets	484,922
Total assets	1,508,597
Liabilities and Equity:
Total current liabilities	823,977
Of which- liabilities derived from clearing operations in respect of open derivative positions	642,024
Total non-current liabilities	179,694
capital reserves	372,544
Retained earnings	132,382
Total equity	504,926
Total liabilities and equity	1,508,597

409

NIS in Millions Excess Capital(1)(2)

35% Reduction compared to 31.12.24

111.4 NIS in Millions

Excess Liquidity(1)

35% Reduction compared to 31.12.24

capital requirements Total capital requirements in respect of the risk components 182,926 Total equity 504,926 Deferred income in respect of listing fees less deferred tax 86,984 Total qualifying capital base 591,910 Capital surplus (qualifying capital base, less requirements) 408,984 Liquidity requirements Total requirements for liquid assets 140,489 Cash and cash equivalents 243,789 Securities portfolio at fair value 93,358 Less – amortization coefficients on the assets )4,116( Line of credit 120,000 Less- the balance earmarked for investment in TASE's technological infrastructure )181,204( Less – current liabilities )19,896( Net liquid assets 315,238 Liquidity surplus (net liquid assets, less requirements) 111,442

(1) The Board of Directors also approved a safety cushion, which serves as an additional layer for handling stress scenarios and is at the discretion of the Board of Directors.

(2) The capital includes consideration from the sale of the Arrangement shares

(3) Adjusted assets exclude open position in derivatives. Adjusted capital includes deferred income from registration fees.

Cash Flow

NIS in Millions

	Item	Q1'25	2024	Q4'24	Q3'24	Q2'24	Q1'24
	Adjusted EBITDA(1)	61,831	186,325	46,822	45,123	45,812	48,568
Operating	Changes in working capital	15,729	)3,545(	11,674	2,854	)22,933(	4,860
Activities	Financing and tax	)19,720(	)17,575(	)379(	)2,774(	)3,008(	)11,414(
	Total	57,840	165,205	58,117	45,203	19,871	42,014
	Investments in property, equipment and in intangible assets	)20,013(	)54,953(	)19,749(	)13,113(	)9,093(	)12,998(
	Disposal (acquisition) of financial assets at fair value	)17(	)731(	)254(	)594(	)355(	472
Investing Activities )20,030( Total )55,684( )20,003( )13,707( )2,175( )2,311( Lease payments )9,472( )2,464( )202,571( Payments for the acquisition of treasury shares - - - Payments carried directly to equity within the framework of implementing the 252,523 10,066 - - TASE Restructuring Law, net(2) Financing Repayment of long-term loans )107,222( )50,000( )12,500( )12,500( Activities Receipt Long-term debt 130,000 )50,697( )272,718( - - Dividend payment	)9,448(	)12,526(
						)2,347(	)2,350(
						-	-
						-	242,457
						)12,500(	)12,500(
						-	)272,718(
	Total	)232,665(	)79,667(	)4,898(	)14,811(	)14,847(	)45,111(
	Total increase (decrease) in cash and cash equivalents	)194,855(	29,854	33,216	16,685	)4,424(	)15,623(
	Opening balance	438,288	408,484	405,295	388,705	392,955	408,484
	Effect of changes in exchange rates on cash balances	356	)50(	)223(	)95(	174	94
	Closing balance	243,789	438,288	438,288	405,295	388,705	392,955
	Net cash provided by operating activities	57,840	165,205	58,117	45,203	19,871	42,014
	Investments in property, equipment and in intangible assets	)20,013(	)54,953(	)19,749(	)13,113(	)9,093(	)12,998(
Free Cash Flow	Lease payments	)2,175(	)9,472(	)2,464(	)2,311(	)2,347(	)2,350(
	Free Cash Flow	35,652	100,780	35,904	29,779	8,431	26,666

(1) Exclude expenses in respect to share-payments

.

(2) Investments in technological infrastructure were funded by the consideration from the sale of the Arrangement Shares

APPENDIX

13

Revenue Trends

NIS in Millions

.

Adjusted Operating Expenses(1) Trends

NIS in Millions

Profitability Trends

NIS in Millions

Revenue Drill Down | Transactional - Shares

18.7 14.8 13.5 13.3 14.6 15.0 13.9 14.5 15.6 18.7

2022 2023 2024 Q1'25 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25

Revenue (NIS millions)

Velocity Represents: Calculated as annualized trading volumes divided by average market capitalization Includes ETFs

Revenue Drill Down | Transactional - Bonds

Revenue (NIS millions)

13.7 17.2 18.9 4.8 4.4 3.6 3.5 5.7 5.0 4.3 4.8 4.8 4.8 18.1 17.8 18.8 5.0 4.9 3.8 4.6 4.5 5.2 4.6 4.4 4.6 5.0 31.8 35.0 37.7 9.8 9.3 7.4 8.1 10.2 10.2 8.9 9.2 9.4 9.8 2022 2023 2024 Q1'25 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25

Revenue Drill Down | Transactional - Mutual Funds

Average Daily Turnover (NIS billions)

0.0103% 0.0081% 0.0074% 0.0070% 0.0078% 0.0086% 0.0085% 0.0078% 0.0075% 0.0077% 0.0074% 0.0072% 0.0070% 2022 2023 2024 Q1'25 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25

Average commissions %

Revenue (NIS millions)

Revenue Drill Down | Transactional – Derivatives

Daily Contracts (thousands)

Revenue Drill Down | Non-transactional

NIS in Millions Unless Otherwise Noted

As of April 1, 2024, the custodian fees commission is charged daily based on the value of the assets recorded at TASE-CH on that date, this in place of the monthly charging based on the value of the assets on the last day of each month.

Revenue Drill Down | Non-transactional

NIS in Millions Unless Otherwise Noted

Transactional Metrics

	Quarter Ended				Year ended
	31.03.25	31.12.24	30.09.24	30.06.24	31.03.24	31.12.24	31.12.23	31.12.22
Number of trading days	64	60	65	57	63	245	249	244
SHARES
Market cap of Shares (ex. ETFs)	1,216	1,218	1,050	964	1,038	1,218	953	949
Market cap of ETFs on share indices	151	151	134	123	117	151	102	71
Total market cap (in NIS billions)	1,367	1,369	1,184	1,087	1,155	1,369	1,055	1,020
Shares ADV	2,317	1,948	1,547	1,731	1,607	1,703	1,598	1,874
ETFs on share indices ADV	579	562	454	431	531	495	400	421
Total average daily volume (in NIS millions)	2,896	2,510	2,001	2,162	2,138	2,198	1,998	2,295
Average commissions	0.01010%	0.01035%	0.01115%	0.01131%	0.01110%	0.01095%	0.01129%	0.01044%
Revenue (in NIS thousands)	18,720	15,584	14,500	13,934	14,952	58,970	56,176	58,469
BONDS
Market cap of corporate bonds	531	504	485	447	457	504	447	409
Market cap of ETFs on bond indices	32	32	30	30	30	32	29	27
Total market cap (in NIS billions)	563	536	515	477	487	536	476	436
Corporate bonds ADV	1,011	979	849	1,024	1,054	974	902	916
ETFs on bond indices ADV	91	103	109	96	105	103	114	130
Total average daily volume (in NIS millions)	1,102	1,082	958	1,120	1,159	1,077	1,016	1,046
Corporate bonds - average commissions	0.00710%	0.00702%	0.00713%	0.00718%	0.00708%	0.00711%	0.00705%	0.00707%
Revenue from corporate bonds (in NIS thousands)	5,005	4,559	4,440	4,581	5,172	18,752	17,833	18,036
Market cap of government bonds -unlinked	408	395	370	347	328	395	308	287
Market cap of government bonds –linked and others	375	356	335	315	304	356	304	300
Total market cap (in NIS billions)	783	751	705	662	632	751	612	587
Government bonds - unlinked	2,105	2,338	2,266	2,183	2,469	2,316	1,902	1,476
Government bonds – linked and others	1,144	1,074	993	1,084	970	1,028	1,009	955
Total average daily volume (in NIS millions)	3,249	3,412	3,259	3,267	3,439	3,344	2,911	2,431
Government bonds unlinked - average commissions	0.00199%	0.00205%	0.00193%	0.00200%	0.00202%	0.00200%	0.00202%	0.00195%
Government bonds linked - average commissions	0.00291%	0.00300%	0.00299%	0.00298%	0.00299%	0.00299%	0.00303%	0.00290%
Government bonds - unlinked (in NIS thousands)	2,682	2,876	2,837	2,484	3,146	11,343	9,579	7,010
Government bonds - linked (in NIS thousands)	2,128	1,933	1,929	1,844	1,828	7,534	7,615	6,760
Revenue from Government bonds (in NIS thousands)	4,810	4,809	4,766	4,328	4,974	18,877	17,194	13,770

Transactional Metrics | Continued

	Quarter Ended					Year ended
	31.03.25	31.12.24	30.09.24	30.06.24	31.03.24	31.12.24	31.12.23	31.12.22
Number of trading days	64	60	65	57	63	245	249	244
TREASURY BILLS
Market cap (in NIS billions)	228	222	231	249	256	222	305	209
Treasury bills ADV (in NIS millions)	1,319	1,251	1,128	1,365	1,926	1,419	1,397	783
Average commissions	0.00343%	0.00361%	0.00362%	0.00359%	0.00290%	0.00336%	0.00379%	0.00334%
Revenue (in NIS thousands)	2,894	2,713	2,657	2,797	3,516	11,683	13,170	6,375
MUTUAL FUNDS
Market cap (in NIS billions)	446	429	405	375	357	429	330	272
Average daily value of creation / redemptions (in NIS millions)	2,414	2,181	1,864	1,826	1,828	1,924	1,424	987
Average commissions	0.00702%	0.00724%	0.00742%	0.00769%	0.00748%	0.00744%	0.00813%	0.01027%
Revenue (in NIS thousands)	10,843	9,474	8,993	8,005	8,610	35,082	28,819	24,732
DERIVATIVES
Derivatives on indices	149.6	130.6	142.6	1195	101.6	123.7	108.5	114.6
Derivatives on foreign currency	47.6	40.1	41.0	39.8	29.8	37.6	36.1	40.3
Derivatives on shares	11.0	8.4	8.3	10.1	20.1	11.8	12.7	4.3
Total derivative contracts (in '000 units)	208.2	179.1	191.9	169.4	151.5	173.1	157.3	159.2
Average commissions	0.54	0.55	0.51	0.53	0.59	0.54	0.57	0.54
Revenue (in NIS thousands)	7,187	5,879	6,413	5,126	5,672	23,090	22,170	20,900
OTHER
Other (MTS) (in NIS thousands)	31	33	40	41	58	172	227	208
Total revenue from trading and clearing commissions	49,490	43,051	41,809	38,812	42,954	166,626	155,589	142,490

Transactional Metrics | Continued

			Quarter Ended			Year ended
	31.03.25	31.12.24	30.09.24	30.06.24	31.03.24	31.12.24	31.12.23	31.12.22
CLEARING HOUSE SERVICES
Average monthly/daily value of assets (in NIS billions)*	3,685	3,470	3,239	3,132	3,110	3,238	2,890	2,983
Avg. commissions from Custodian Fees	0.00141%	0.00110%	0.00110%	0.00108%	0.00108%	0.00109%	0.00110%	0.00109%
Revenue from: (in NIS thousands)
Custodian Fees	13,031	9,557	8,893	8,458	8,417	35,325	31,711	32,460
Clearing House services for members	13,883	10,547	6,832	6,510	6,889	30,778	25,823	22,549
Clearing House services for companies & funds	3,465	4,586	4,084	5,209	3,132	17,011	15,120	10,779
Other	1,500	1,459	1,457	1,354	1,542	5,812	5,554	5,100
Total revenue from Clearing House services	31,879	26,149	21,266	21,531	19,980	88,926	78,208	70,908

			Quarter Ended				Year ended
	31.03.25	31.12.24	30.09.24	30.06.24	31.03.24	31.12.24	31.12.23	31.12.22
LISTING FEES AND LEVIES
Weighted avg. number of companies / funds
Companies	621	611	617	619	622	617	621	612
Mutual funds and ETFs	2,335	2,272	2,277	2,264	2,311	2,281	2,314	2,314
Avg. revenue from levies (in NIS thousands)
Companies	6.6	5.8	5.7	5.7	5.7	22.9	22.0	22.8
Mutual funds and ETFs	2.3	2.2	2.2	2.2	2.1	8.7	8.0	7.7
Revenue from Annual Levies from: (in NIS thousands)
Companies	4,072	3,522	3,535	3,543	3,557	14,157	13,670	13,966
Mutual funds and ETFs	5,349	5,099	4,937	4,926	4,933	19,895	18,682	17,778
Nominee Company and others	3,082	2,454	2,510	2,408	2,201	9,573	7,399	6,381
Total revenue from Annual levies	12,503	11,075	10,982	10,877	10,691	43,625	39,751	38,125

Non-Transactional Metrics | Continued

	Quarter Ended					Year ended
	31.03.25	31.12.24	30.09.24	30.06.24	31.03.24	31.12.24	31.12.23	31.12.22
LISTING FEES AND LEVIES- Continued
The value of issuance used to calculate Listing fees (in NIS millions)
Shares, Bonds and ETFs(1) Companies –	54,431	46,232	52,312	30,356	43,089	171,989	139,052	143,732
Government bonds (including swap transactions)(2)	58,608	49,205	54,248	49,156	67,331	219,940	116,323	41,501
Treasury-bills	113,256	112,489	111,763	113,658	101,914	439,824	403,460	231,158
Average revenue from Examination and Listing Fees(3)
Companies – Shares, Bonds and ETFs	0.0168%	0.0195%	0.0174%	0.0144%	0.0165%	0.0172%	0.0166%	0.0175%
Revenue from Examination and Listing Fees (in NIS thousands)
Examination fees	2,442	2,111	2,338	2,161	2,040	8,650	7,048	8,245
Receipts from listing fees
Listing fees – shares, bonds & ETF's	9,171	9,008	9,081	4,368	7,102	29,559	23,152	25,183
Listing fees - government bonds	1,674	1,619	1,619	1,619	1,619	6,476	6,266	5,952
Listing of T-bills	793	788	784	795	713	3,080	2,824	1,618
Levies and examination fees from members	-	59	139	863	30	1,091	226	850
Other	113	164	342	181		910	490	236
Total receipts	11,751	11,638	11,965	7,826	9,687	41,116	32,958	33,839
Accounting adjustments to revenue recognition	)2,427(	)2,514(	)2,888(	851	)815(	)5,366(	1,363	4,280
Total revenue from listing fees	9,324	9,124	9,077	8,677	8,872	35,750	34,321	38,119
Total revenue from examination and listing fees (in NIS thousands)	11,766	11,235	11,415	10,838	10,912	44,400	41,369	46,364
Total revenue from listing fees and levies	24,269	22,310	22,397	21,715	21,603	88,025	81,120	84,489

(1) Value on listing date of a security, used to calculate the listing fees, as prescribed in the TASE Rules.

(2) Commencing in 2021, listing fees on government bonds will be charged according to a fixed amount over the entire period set out in the agreement between the Company and the Ministry of Finance, rather than a percentage of the amount raised. (3) In the first quarter of 2022, the Company examined the estimation of the period for recognition of revenue from listing fees on shares (in IPOs and secondary offerings) and on ETFs in accordance with International Financial Reporting Standard, "Revenue from Contracts with Customers" (IFRS 15)

Non-Transactional Metrics | Continued

			Year ended
	31.03.25	31.12.24	30.09.24	30.06.24	31.03.24	31.12.24	31.12.23	31.12.22
DATA DISTRIBUTION AND CONNECTIVITY SERVICES
Average number of data terminals
Domestic business clients(1)	7,795	7,373	7,332	7,397	7,491	7,398	7,345	7,419
Overseas business clients	5,106	4,939	5,174	4,866	5,848	5,207	5,892	5,447
Non-display data(2)	209	198	221	200	231	213	261	288
Revenue from data distribution and connectivity services (in NIS thousands)
Domestic business clients(1	5,120	4,687	4,663	4,656	4,723	18,729	17,800	16,693
Overseas business clients	2,758	2,735	2,850	2,728	3,009	11,322	12,330	9,251
Private clients	3,366	2,553	2,988	2,879	2,498	10,918	8,584	8,254
Derivative data and non-display data(3)	1,142	1,166	1,056	1,165	1,166	4,553	4,613	4,775
Data files and other data	1,533	1,313	1,330	1,320	1,259	5,222	4,656	4,147
Authorization for indices usage	6,670	6,715	6,302	5,757	6,286	25,060	10,181	3,202
Connectivity services	3,930	3,954	3,762	3,614	3,660	14,990	13,012	11,738
Total revenue from data distribution and connectivity services	24,519	23,123	22,951	22,119	22,601	90,794	71,176	58,060

(1) The revenue from data distribution to a business client include differently priced data packages. The number of terminals for business clients includes only the data packages that contain all data groups. (2) The number of terminals attributed to quote generators.

CONTACTS

Yehuda Ben Ezra EVP CFO

Email: cfo@tase.co.il

Tel: +972-76-8160442

Orna Goren Head of Communication & PR unit

Email: tase.ir@tase.co.il

Tel: +972-76-8160405

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