TEL AVIV STOCK EXCHANGE
הבורסה לניירות ערך תל אביב
THE BEST ISRAEL HAS TO OFFER

Tel-Aviv Stock Exchange (TASE) Investors Presentation

Quarter ended March 31, 2026

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

SINCE 1903

THE BEST LIVING LIFE IS LIFE

TASE at a Glance / Q1 2026 by the Numbers

Average Daily Turnover

('000 Contracts)
180.7
Derivatives
13% Y-o-Y Reduction

(NIS Billions)
2.1
T-Bills
57% Y-o-Y Growth

(NIS Billions)
4.5
Government Bonds
39% Y-o-Y Growth

(NIS Billions)
1.5
Corporate Bonds(1)
34% Y-o-Y Growth

(NIS Billions)
5.6
Shares(1)
92% Y-o-Y Growth

Market Capitalization

(NIS Billions)
564
Mutual Funds(2)
26% Y-o-Y Growth

(NIS Billions)
260
T-Bills
14% Y-o-Y Growth

(NIS Billions)
857
Government Bonds
9% Y-o-Y Growth

(NIS Billions)
692
Corporate Bonds(1)
23% Y-o-Y Growth

(NIS Billions)
2,543
Shares(1)
86% Y-o-Y Growth

(1) Includes ETFs and Tase Up. (2) Value of the mutual funds' assets, as recorded in the in TASE Clearing House

NEILITINN NATIONAL

THE BEST LEVEL HAS TO OFFER

Equity Market at a Glance / Q1 2026 by the Numbers

Listings and Offerings

549

Share and bond Companies(1)

13 Companies Y-o-Y Growth

Offerings(1)

130% Y-o-Y Growth

(NIS Billions)

10.6

Equity Raised

255% Y-o-Y Growth

Issuance Volume Q1 2026

Capital Issuances(1) (NIS in billions)

Q1'26 Equity Issuance Composition

Number of Issuances(1)

(1) Includes Private Placements (2) Excludes companies that were listed without raising capital

NEO ITALIC CENTRAL

THE BEST ITEMS I WAS TO OFFER

Bonds & T-Bills Markets at a Glance / Q1 2026 by the Numbers

Listings and Offerings

101

Bond Companies(1)

14 Companies Y-o-Y Growth

(NIS Billions)

65.0

Corporate Bonds Raised(2)

47% Y-o-Y Growth

(NIS Billions)

46.6

Government Bonds Raised(3)(4)

5% Y-o-Y Reduction

(NIS Billions)

100.3

T-Bills Raised

11% Y-o-Y Reduction

Issuance Volume Q1 2026

Corporate Bond Issuances (2)

Government Bond Issuances(3)

Treasury Bills Issuances

Excludes TASE-UP (2) Includes structured bonds (3) Excluding amounts raised by way of swap auctions, totaling NIS 8.9 billion, NIS 9.7 billion and NIS 14.4 billion in quarter ended 31.3.2026, 31.3.2025 and 31.3.2024, respectively. (4) Excludes overseas government bond issuances

NEIGHBORHOOD COUNCILS

THE BEST LEAGUE HAS TO OFFER

TASE at a Glance / Q1 2026 by the Numbers

Financial Metrics

(NIS Millions)	183.3	(NIS Millions)	115.6	(NIS Millions)	63.1%	(NIS Millions)	78.1	(NIS Millions)	42.6%	(NIS)	0.836
Revenue	40% Y-o-Y Growth	Adj. EBITDA^{(1)}	87% Y-o-Y Growth	% Adj. EBITDA^{(1)}	47.2% in Q1’25	Adj. net profit^{(1)}	112% Y-o-Y Growth	% Adj. net profit^{(1)}	28.1% in Q1’25	Basic EPS	114% Y-o-Y Growth
Revenue (NIS Millions)

(1) Exclude expenses in respect to share-payments

THE BEST CANAL HAS TO OFFER

The Results for Q1'26 (NIS, in thousands)

	Quarter Ended
GAAP (IFRS)	March 31, 2026	March 31, 2025	Difference -%
Revenue from services	183,294	131,030	40%
Expenses	84,019	84,844	(1%)
Profit before financing income, net	99,275	46,186	115%
Financing income, net	1,977	890	122%
Taxes on income	23,837	11,285	111%
Profit	77,415	35,791	116%
Basic EPS (in NIS)	0.836	0.390	114%
Non GAAP
Adjusted EBITDA(1)	115,628	61,831	87%
Adjusted net profit(1)	78,069	36,854	112%
% EBITDA Adjusted margin	63.1%	47.2%
% Adjusted net profit margin	42.6%	28.1%

Revenue (NIS Millions)

Adjusted EBITDA(1) (NIS Millions)

Adjusted net profit(1)(NIS Millions)

(1) Exclude expenses in respect to share-payments

SLOANCING & LITERATURE

THE BEST CANAL HAS TO OFFER

Q1'26 Revenue Composition (NIS, in millions)

Total Revenues

■ Trading and clearing commissions
■ Clearing House services
■ Other revenue

■ Listing fees and levies
■ Data distribution and connectivity services

Revenues Composition

WILLIAMSON TOBACCO COMPANY
THE BEST LEAGUE, HAS TO OFFER

Q1'26 Revenue (NIS, in thousands)

	Quarter Ended
	March 31, 2026	% of the Company's total revenues	March 31, 2025	% of the Company's total revenues	Difference -%
Trading and clearing commissions	71,076	39%	49,490	38%	44%
Listing fees and levies	27,515	16%	24,269	18%	13%
Clearing House services	53,926	29%	31,879	24%	69%
Data distribution and Connectivity services	30,113	16%	24,519	19%	23%
Other revenue	664	-	873	1%	(24%)
Total revenue	183,294	100%	131,030	100%	40%

49%

of the increase in Trading and clearing commissions revenue is due mainly to an increase in the trading volumes

36%

of the increase in revenues from Clearing House services is due to an increase in revenues from services to members

16%

of the increase in revenue from Data distribution and Connectivity services is due to an increase in revenue from authorizations to use TASE's indices

7%

of the increase in revenue from Listing fees and levies is due to an increase in revenue from annual levies

30%

of the increase in revenue from Clearing House services is due to an increase in the value of assets held in custody at TASE-CH

6%

of the increase in revenue from Data distribution and Connectivity services is due to an increase in revenue from data distribution to private and business customers

(1) Exclude expenses in respect to share-payments

SEAL OF THE STATE OF CALIFORNIA
THE SEAL OF THE STATE OF CALIFORNIA
THE BEST ITEMS I MAY TO OFFER

Q1'26 Revenue Composition (NIS, in millions)

Trading and Clearing Commissions

Shares
Corporate Bonds
Government Bonds
Derivatives
Mutual Funds
T-Bills and other

Revenue over the last quarters (NIS in millions)

Listing Fees and Levies

Annual Levies
Listing Fees
Examination fees

Revenue over the last quarters (NIS in millions)

MADE IN THE U.S. DISTRICT COURT OF THE DISTRICT OF COLUMBIA
THE BEST ITEMS I MAY TO OFFER

Q1'26 Revenue Composition (NIS, in millions)

Clearing House Services

Custodian fees
For members
For companies & funds
Other

Revenue over the last quarters (NIS in millions)

Data Distribution & Connectivity Services

Business clients
Private clients
Derivative & non-display data
Data files and others
Indices usage
Connectivity services

Revenue over the last quarters (NIS in millions)

In Q1'26, the other revenue amounted to NIS 0.7 million

THE BEST FINANCIAL INDUSTRY OF BUTLER VERIT

Expenses Q1'26 (NIS, in thousands)

	Quarter Ended
	March 31, 2026	% of the Company's adjusted expenses	March 31, 2025	% of the Company's adjusted expenses	Difference -%
Compensation	44,282	53%	44,617	53%	(1%)
Computer and Communications	11,715	14%	12,553	15%	(7%)
Property Taxes and Building Maintenance	3,446	4%	3,319	4%	4%
Marketing	1,172	2%	1,766	2%	(34%)
Fee to the Israel Securities Authority	3,126	4%	2,596	3%	20%
General and Administrative	1,978	2%	2,704	3%	(27%)
Other operating expenses	1,947	2%	1,251	2%	56%
Depreciation & amortization	15,699	19%	14,582	18%	8%
Other	-	0%	393	0%	(100%)
Adjusted Expenses	83,365	100%	83,781	100%	(0%)
expenses in respect to share-payments	654		1,063		(38%)
Total Expenses	84,019		84,844		(1%)

Q1'26 Q1'25

THE BEST JOINT

THE BEST ISEASL HAS TO OFFER

Financial Position and Capital & Liquidity Adequacy

(as of March 31, 2026 / NIS, in thousands)

Assets:
Cash and cash equivalents	285,271
Financial assets at fair value through profit or loss	122,313
Trade receivables	31,779
Other receivables	17,173
Total	456,536
Assets derived from clearing operations in respect of open derivative positions	659,675
Total current assets	1,116,211
Total non-current assets	493,803
Total assets	1,610,014
Liabilities and Equity:
Total current liabilities	872,149
Of which- liabilities derived from clearing operations in respect of open derivative positions	659,675
Total non-current liabilities	152,836
capital reserves	374,816
Retained earnings	210,213
Total equity	585,029
Total liabilities and equity	1,610,014
Adjusted Equity Ratio(2)	76%

NIS in Millions

483.8

Excess Capital(1)

12% Reduction compared to 31.12.25

NIS in Millions

237.7

Excess Liquidity(1)

23% Reduction compared to 31.12.25

Capital Requirements

Total capital requirements in respect of the risk components	204,132
Total equity	585,029
Deferred income in respect of listing fees less deferred tax	102,898
Total qualifying capital base	687,927
Capital surplus (qualifying capital base, less requirements)	483,795

Liquidity Requirements

Total requirements for liquid assets	137,585
Cash and cash equivalents	285,271
Securities portfolio at fair value	122,313
Less – amortization coefficients on the assets	(6,269)
Line of credit	120,000
Less- the balance earmarked for investment in TASE’s technological infrastructure	(118,791)
Less – current liabilities	(27,283)
Net liquid assets	375,241
Liquidity surplus (net liquid assets, less requirements)	237,656

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

THE SECRETARY OF STATE

FOR INTERNAL USE ONLY

Cash Flow (NIS, in Millions)

	Item	Q1'26
Operating Activities	Adjusted EBITDA(1)	115,628
Changes in working capital	20,628
Financing and tax	(36,101)
Total	100,155
Investing Activities	Investments in property, equipment and in intangible assets	(27,695)
Disposal (acquisition) of financial assets at fair value	23
Total	(27,672)
Financing Activities	Lease payments	(2,378)
Payments for the acquisition of treasury shares	-
Repayment of long-term loans	(10,833)
Receipt Long-term debt	-
Dividend payment	(144,826)
Total	(158,037)
Total increase (decrease) in cash and cash equivalents	(85,554)
Opening balance	370,974
Effect of changes in exchange rates on cash balances	(149)
Closing balance	285,271
Free Cash Flow	Net cash provided by operating activities	100,155
Investments in property, equipment and in intangible assets	(27,695)
Lease payments	(2,378)
Free Cash Flow	70,082
2025	Q4'25	Q3'25
---	---	---
293,785	80,785	79,523
32,116	13,181	3,755
(36,081)	(3,340)	(6,357)
289,820	90,626	76,921
(57,431)	(12,907)	(12,739)
(25,934)	(25,637)	(190)
(83,365)	(38,544)	(12,929)
(9,122)	(2,316)	(2,318)
(202,571)	-	-
(139,721)	(10,833)	(10,833)
130,000	-	-
(50,697)	-	-
(272,111)	(13,149)	(13,151)
(65,656)	38,933	50,841
438,288	332,577	281,837
(1,658)	(536)	(101)
370,974	370,974	332,577
289,820	90,626	76,921
(57,431)	(12,907)	(12,739)
(9,122)	(2,316)	(2,318)
223,267	75,403	61,865

(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

S1 2017-10-01 14:00:11

THE BEST IS WELL. HAS TO OFFER

Appendix

TEL AVIV STOCK EXCHANGE
הבורסה לניירות ערך תלאביב
THE BEST ISRAEL HAS TO OFFER

Revenue Trends (NIS, in Millions)

Annual Revenue

Quarterly Revenue

SEAL OF THE STATE OF INDIANA 1843

THE BEST CAMEL HAS TO OFFER

Adjusted Operating Expenses(1) Trends(NIS, in Millions)

(1) Excludes the expenses in respect to share-payments.

NEIGHBORHOOD COUNCIL

THE BEST LEAGUE, HAS TO OFFER

Profitability Trends (NIS, in Millions)

Adjusted EBITDA & Margin(1)

Adjusted Net Profit & Margin (1)

(1) Excludes the expenses in respect to share-payments

The BOST ISRAEL HAS TO OFFER

Revenue Drill Down / Transactional - Shares

Velocity	43%	41%	46%	54%	39%	42%	39%	43%	45%	47%	48%	45%	54%
Average Daily Turnover (NIS billions)	2.00	2.20	3.44	5.56	2.14	2.16	2.00	2.51	2.90	3.16	3.76	3.98	5.56
	2023	2024	2025	Q1'26	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26
Average Commissions %	0.01129%	0.01095%	0.01000%	0.00998%	0.01110%	0.01131%	0.01115%	0.01035%	0.01010%	0.00999%	0.00999%	0.00993%	0.00998%
	2023	2024	2025	Q1'26	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26
Revenue (NIS millions)	56.2	59.0	84.6	34.4	15.0	13.9	14.5	15.6	18.7	18.9	23.3	23.7	34.4
	2023	2024	2025	Q1'26	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26

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

The BIST (ISRAEL) NIG TO OFFER

Revenue Drill Down / Transactional – Corporate Bonds

Velocity	58%	54%	50%	56%	60%	56%	49%	54%	52%	49%	50%	51%	56%
Average Daily Turnover (NIS billions)	1.02
2023	1.08
2024	1.18
2025	1.48
Q1'26	1.16
Q1'24	1.12
Q2'24	0.96
Q3'24	1.08
Q4'24	1.10
Q1'25	1.11
Q2'25	1.21
Q3'25	1.30
Q4'25	1.48
Q1'26
Average Commissions %	0.00705%
2023	0.00711%
2024	0.00706%
2025	0.00696%
Q1'26	0.00708%
Q1'24	0.00713%
Q2'24	0.00702%
Q3'24	0.00710%
Q4'24	0.00701%
Q1'25	0.00706%
Q2'25	0.00704%
Q3'25	0.00696%
Q4'25	0.00696%
Q1'26
Revenue (NIS millions)	17.8
2023	18.8
2024	20.4
2025	6.4
Q1'26	5.2
Q1'24	4.6
Q2'24	4.4
Q3'24	4.6
Q4'24	5.0
Q1'25	4.7
Q2'25	5.3
Q3'25	5.4
Q4'25	6.4
Q1'26

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

THE BEST COUNCIL FOR SPORTS & RESEARCH

THE BEST IODAL HAS TO OFFER

Revenue Drill Down / Transactional – Government Bonds

Velocity	101%	100%	86%	114%	110%	102%	95%	96%	81%	102%	78%	76%	114%
Average Daily Turnover (NIS billions)	2.91	3.34	3.27	4.51	3.44	3.27	3.26	3.41	3.25	3.72	3.06	3.06	4.51
	2023	2024	2025	Q1'26	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26
Average Commissions %	0.00240%	0.00230%	0.00240%	0.00230%	0.00230%	0.00230%	0.00230%	0.00230%	0.00240%	0.00240%	0.00230%	0.00230%	0.00230%
	2023	2024	2025	Q1'26	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26
Revenue (NIS millions)	17.2	18.9	19.1	6.3	5.0	4.3	4.8	4.8	4.8	5.4	4.6	4.3	6.3
	2023	2024	2025	Q1'26	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26

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

The BOST ISRAEL AND TO OFFER

Revenue Drill Down / Transactional - Mutual Funds

THE HAGUE INITIATIVE

THE BEST CAMEL HAS TO OFFER

Revenue Drill Down / Transactional – Derivatives Daily Contracts (thousands)

Average Daily Turnover (in '000 units)	157.3	173.1	197.2	180.7	151.5	169.4	191.9	179.1	208.2	209.8	183.8	186.8	180.7
	2023	2024	2025	Q1'26	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26
Average commissions	0.57	0.54	0.54	0.60	0.59	0.53	0.51	0.55	0.54	0.53	0.55	0.56	0.60
	2023	2024	2025	Q1'26	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26
Revenue (NIS millions)	22.2	23.1	26.4	6.7	5.7	5.1	6.4	5.9	7.2	6.6	6.3	6.3	6.7
	2023	2024	2025	Q1'26	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26

THE REVIT (ISRAEL) AND TO OFFER

Revenue Drill Down / Non-transactional- Clearing House Services

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.

The State of New York

THE BEST ITEMS IN THE COUNTRY

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

(1) excludes Authorization for indices usage

THE BEST COUNCIL FOR INDUSTRY RESEARCH

THE BEST ISSUED, HAS TO OFFER

Transactional Metrics

	Quarter Ended					Year Ended
	31.03.26	31.12.25	30.9.25	30.06.25	31.03.25	31.12.25	31.12.24	31.12.23
Number of trading days	62	60	62	60	64	246	245	249
SHARES
Market cap of Shares (ex. ETFs)	2,344	1,799	1,594	1,486	1,216	1,799	1,218	953
Market cap of ETFs on share indices	199	203	190	176	151	203	151	102
Total market cap (in NIS billions)	2,543	2,002	1,784	1,662	1,367	2,002	1,369	1,055
Shares ADV	4,612	3,360	3,195	2,569	2,317	2,854	1,703	1,598
ETFs on share indices ADV	952	623	565	587	579	588	495	400
Total average daily volume (in NIS millions)	5,564	3,983	3,760	3,156	2,896	3,442	2,198	1,998
Average commissions	0.00998%	0.00993%	0.00999%	0.00999%	0.01010%	0.01000%	0.01095%	0.01129%
Revenue (in NIS thousands)	34,412	23,727	23,296	18,910	18,720	84,653	58,970	56,176
BONDS
Market cap of corporate bonds	658	621	599	556	531	621	504	447
Market cap of ETFs on bond indices	34	33	32	32	32	33	32	29
Total market cap (in NIS billions)	692	654	631	588	563	654	536	476
Corporate bonds ADV	1,347	1,209	1,124	1,023	1,011	1,091	974	902
ETFs on bond indices ADV	132	86	82	87	91	86	103	114
Total average daily volume (in NIS millions)	1,479	1,295	1,206	1,110	1,102	1,177	1,077	1,016
Corporate bonds - average commissions	0.00696%	0.00704%	0.00706%	0.00701%	0.00710%	0.00706%	0.00711%	0.00705%
Revenue from corporate bonds (in NIS thousands)	6,382	5,470	5,282	4,672	5,005	20,429	18,752	17,833
Market cap of government bonds -unlinked	445	442	429	427	408	442	395	308
Market cap of government bonds -linked and others	412	406	406	392	375	406	356	304
Total market cap (in NIS billions)	857	848	835	819	783	848	751	612
Government bonds - unlinked	3,083	1,941	1,801	2,111	2,105	1,990	2,316	1,902
Government bonds - linked and others	1,430	1,123	1,260	1,613	1,144	1,283	1,028	1,009
Total average daily volume (in NIS millions)	4,513	3,064	3,061	3,724	3,249	3,273	3,344	2,911
Government bonds unlinked - average commissions	0.00196%	0.00202%	0.00203%	0.00198%	0.00199%	0.00200%	0.00200%	0.00202%
Government bonds linked - average commissions	0.00288%	0.00294%	0.00301%	0.00294%	0.00291%	0.00295%	0.00299%	0.00303%
Government bonds - unlinked (in NIS thousands)	3,747	2,357	2,263	2,505	2,682	9,807	11,343	9,579
Government bonds - linked (in NIS thousands)	2,555	1,984	2,349	2,848	2,128	9,309	7,534	7,615
Revenue from Government bonds (in NIS thousands)	6,302	4,341	4,612	5,353	4,810	19,116	18,877	17,194

SICH OFFICE OF THE DEUTSCHE INTERNATIONAL CENTRE FOR INDUSTRIAL, FUEL EQUIPMENT

THE BEST ITEMS I HAS TO OFFER

Transactional Metrics / Continued

	Quarter Ended					Year ended
	31.03.26	31.12.25	30.9.25	30.06.25	31.03.25	31.12.25	31.12.24	31.12.23
Number of trading days	62	60	62	60	64	246	245	249
TREASURY BILLS
Market cap (in NIS billions)	260	252	242	232	228	252	222	305
Treasury bills ADV (in NIS millions)	2,071	1,578	1,510	1,706	1,319	1,521	1,419	1,397
Average commissions	0.00276%	0.00315%	0.00285%	0.00307%	0.00343%	0.00312%	0.00336%	0.00379%
Revenue (in NIS thousands)	3,538	2,979	2,669	3,138	2,894	11,680	11,683	13,170
MUTUAL FUNDS
Market cap (in NIS billions)	560	539	518	484	446	539	429	330
Average daily value of creation / redemptions (in NIS millions)	3,238	2,798	2,606	2,366	2,414	2544	1,924	1,424
Average commissions	0.00682%	0.00709%	0.00726%	0.00726%	0.00702%	0.00716%	0.00744%	0.00813%
Revenue (in NIS thousands)	13,698	11,909	11,729	10,306	10,843	44,787	35,082	28,819
DERIVATIVES
Derivatives on TA-35 index	116.3	130.5	138.2	151.1	149.6	142.4	123.7	108.5
Derivatives on foreign currency	39.0	38.4	35.5	49.7	47.6	42.8	37.6	36.1
Derivatives on shares and other	25.4	17.9	10.1	9.0	11.0	12.0	11.8	12.7
Total derivative contracts (in '000 units)	180.7	186.8	183.8	209.8	208.2	197.2	173.1	157.3
Average commissions	0.60	0.56	0.55	0.53	0.54	0.544	0.54	0.57
Revenue (in NIS thousands)	6,715	6,291	6,256	6,638	7,187	26,372	23,090	22,170
OTHER
Other (MTS) (in NIS thousands)	29	14	24	34	31	103	172	227
Total revenue from trading and clearing commissions	71,076	54,731	53,868	49,051	49,490	207,140	166,626	155,589

STARK SINCE 1854

THE BEST ISRAEL HAS TO OFFER

Non-Transactional Metrics

	Quarter Ended					Year Ended
	31.03.26	30.9.25	30.9.25	30.6.25	31.3.25	31.12.25	31.12.24	31.12.23

Average monthly/daily value of assets (in NIS billions)*	4,822	4,440	4,169	3,800	3,685	4,026	3,238	2,890
Avg. commissions from Custodian Fees	0.00191%	0.00142%	0.00148%	0.00144%	0.00141%	0.00144%	0.00109%	0.00110%
Revenue from: (in NIS thousands)
Custodian Fees	22,661	15,755	15,458	13,668	13,031	57,912	35,325	31,711
Clearing House services for members	25,397	19,275	17,877	14,772	13,883	65,807	30,778	25,823
Clearing House services for companies & funds	4,353	4,788	4,596	5,291	3,465	18,140	17,011	15,120
Other	1,515	1,399	1,432	1,445	1,500	5,776	5,812	5,554
Total revenue from Clearing House services	53,926	41,217	39,363	35,176	31,879	147,635	88,926	78,208
	Quarter Ended					Year Ended
---	---	---	---	---	---	---	---	---
	31.03.26	31.12.25	30.9.25	30.06.25	31.03.25	31.12.25	31.12.24	31.12.23
LISTING FEES AND LEVIES
Weighted avg. number of companies / funds
Companies	640	607	612	618	621	615	617	621
Mutual funds and ETFs	2,483	2,416	2,387	2,359	2,338	2,374	2,281	2,314
Avg. revenue from levies (in NIS thousands)
Companies	7.31	6.63	6.61	6.56	6.56	26.34	22.95	22.01
Mutual funds and ETFs	2.33	2.30	2.29	2.27	2.29	9.15	8.72	8.04
Revenue from Annual Levies from: (in NIS thousands)
Companies	4,679	4,027	4,044	4,055	4,072	16,198	14,157	13,670
Mutual funds and ETFs	5,796	5,561	5,453	5,354	5,349	21,717	19,895	18,682
Nominee Company and others	3,726	3,267	3,155	3,039	3,082	12,543	9,573	7,399
Total revenue from Annual levies	14,201	12,855	12,652	12,448	12,503	50,458	43,625	39,751

SINCE 1904

THE BEST LIVING LIFE IS BETTER

THE BEST ISSUE, HAS TO OFFER

Non-Transactional Metrics / Continued

	Quarter Ended					Year ended
	31.03.2026	31.12.25	30.9.25	30.06.25	31.03.25	31.12.25	31.12.24	31.12.23
LISTING FEES AND LEVIES- Continued
The value of issuance used to calculate Listing fees (in NIS millions)
Companies – Shares, Bonds and ETFs(1)	91,684	59,174	89,160	54,798	54,431	257,563	171,989	139,052
Government bonds (including swap transactions)	55,550	30,304	40,901	45,740	58,608	175,553	219,940	116,323
Treasury-bills	100,294	93,516	95,392	103,262	113,256	405,426	439,824	403,460
Average revenue from Examination and Listing Fees
Companies – Shares, Bonds and ETFs	0.0168%	0.0184%	0.0177%	0.0160%	0.0168%	0.0173%	0.0172%	0.0166%
Revenue from Examination and Listing Fees (in NIS thousands)
Examination fees	2,984	2,677	3,080	2,870	2,442	11,069	8,650	7,048
Receipts from listing fees
Listing fees – shares, bonds & ETF’s	15,398	10,896	15,780	8,790	9,171	44,637	29,559	23,152
Listing fees - government bonds	1,714	1,675	1,674	1,674	1,674	6,697	6,476	6,266
Listing of T-bills	702	654	668	723	793	2,838	3,080	2,824
Levies and examination fees from members	-	61	31	-	-	92	1,091	226
Other	134	121	289	577	113	1,100	910	490
Total receipts	17,948	13,407	18,442	11,764	11,751	55,364	41,116	32,958
Accounting adjustments to revenue recognition	(7,618)	(3,584)	(8,652)	(1,944)	(2,427)	(16,607)	(5,366)	1,363
Total revenue from listing fees	10,330	9,823	9,790	9,820	9,324	38,757	35,750	34,321
Total revenue from examination and listing fees (in NIS thousands)	13,314	12,500	12,870	12,690	11,766	49,826	44,400	41,369
Total revenue from listing fees and levies	27,515	25,355	25,522	25,138	24,269	100,284	88,025	81,120

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

100

NEJMOR JOINT RECOGNITION PRODUCER

THE BEST ISRAEL HAS TO OFFER

Non-Transactional Metrics / Continued

	Quarter Ended					Year Ended
	31.03.26	31.12.25	30.9.25	30.06.25	31.03.25	31.12.2025	31.12.24	31.12.23
DATA DISTRIBUTION AND CONNECTIVITY SERVICES
Average number of data terminals
Domestic business clients(1)	8,205	7,487	7,777	7,514	7,795	7,643	7,398	7,345
Overseas business clients	5,069	4,921	5,305	5,221	5,106	5,138	5,207	5,892
Non-display data(2)	226	249	240	209	209	227	213	261
Revenue from data distribution and connectivity services (in NIS thousands)
Domestic business clients(1)	5,504	4,953	5,113	4,976	5,120	20,162	18,729	17,800
Overseas business clients	2,713	2,521	2,814	3,012	2,758	11,105	11,322	12,330
Private clients	3,821	3,909	4,099	3,641	3,366	15,015	10,918	8,584
Derivative data and non-display data(3)	1,432	1,514	1,542	1,404	1,142	5,602	4,553	4,613
Data files and other data	1,802	1,571	1,547	1,450	1,533	6,101	5,222	4,656
Authorization for indices usage	10,641	8,890	8,533	7,750	6,670	31,843	25,060	10,181
Connectivity services	4,200	4,081	4,020	4,087	3,930	16,118	14,990	13,012
Total revenue from data distribution and connectivity services	30,113	27,439	27,668	26,320	24,519	105,946	90,794	71,176

(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. (3) The revenues from non-display data packages include data packages that are differently priced for domestic clients and overseas clients, including quote generators.

NEURAL INFORMATION PROCESSING SYSTEMS

THE BEST CAMEL HAS TO OFFER

THANK YOU!

Contacts

Yehuda Ben Ezra
EVP CFO
Email: [email protected]
Tel: +972-76-8160442

Orna Goren
Head of Communication & PR unit
Email: [email protected]
Tel: +972-76-8160405

TEL AVIV STOCK EXCHANGE
הבורסה לניירות ערד תל אביב
THE BEST ISRAEL HAS TO OFFER

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Tel Aviv Stock Exchange Ltd. — Investor Presentation 2026

7071_rns_2026-05-12_de6ea15d-52f6-4c73-bbd8-89f007a9d4c4.pdf

Tel-Aviv Stock Exchange (TASE) Investors Presentation

TASE at a Glance / Q1 2026 by the Numbers

Average Daily Turnover

Market Capitalization

Equity Market at a Glance / Q1 2026 by the Numbers

Listings and Offerings

Issuance Volume Q1 2026

Capital Issuances(1) (NIS in billions)

Q1'26 Equity Issuance Composition

Number of Issuances(1)

Bonds & T-Bills Markets at a Glance / Q1 2026 by the Numbers

TASE at a Glance / Q1 2026 by the Numbers

Financial Metrics

The Results for Q1'26 (NIS, in thousands)

Q1'26 Revenue Composition (NIS, in millions)

Total Revenues

Revenues Composition

Q1'26 Revenue (NIS, in thousands)

49%

36%

16%

7%

30%

6%

Q1'26 Revenue Composition (NIS, in millions)

Trading and Clearing Commissions

Listing Fees and Levies

Q1'26 Revenue Composition (NIS, in millions)

Clearing House Services

Data Distribution & Connectivity Services

Expenses Q1'26 (NIS, in thousands)

Financial Position and Capital & Liquidity Adequacy

Cash Flow (NIS, in Millions)

Appendix

Revenue Trends (NIS, in Millions)

Adjusted Operating Expenses(1) Trends(NIS, in Millions)

Profitability Trends (NIS, in Millions)

Revenue Drill Down / Transactional - Shares

Revenue Drill Down / Transactional – Corporate Bonds

Revenue Drill Down / Transactional – Government Bonds

Revenue Drill Down / Transactional - Mutual Funds

Revenue Drill Down / Transactional – Derivatives Daily Contracts (thousands)

Revenue Drill Down / Non-transactional- Clearing House Services

Revenue Drill Down / Non-transactional NIS in Millions

Transactional Metrics

Transactional Metrics / Continued

Non-Transactional Metrics

Non-Transactional Metrics / Continued

Non-Transactional Metrics / Continued

THANK YOU!

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Tel Aviv Stock Exchange Ltd. Investor Presentation 2026