Israel : FY 2022 Results Highlights

Israel Corp Q4 2022 Results Presentation

March 16, 2023

Translation and Forward-Looking Statements

Convenience Translation

• The financial information found in this press release is an English summary based on the original Hebrew financial statements and is solely for the convenience of the reader. The binding version is the original financial statements in Hebrew.

Forward Looking Statements

• This press release may contain forward-looking statements, which may not materialize and are subject to risks and uncertainties that are not under the control of IC, which may cause actual results to differ materially from those contained in the disclosures.

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About Israel Corp

• Israel Corporation Ltd. (TASE: ILCO) ("IC") is a reputable public investment company, which owns and invests in high quality companies with established managements and go-to markets.
• In November 2019, IC announced its updated strategy, IC plans to expand its portfolio through new investments.

• IC current core holdings* include c.44% stake in ICL Group (NYSE:ICL, TASE:ICL) and c.18% stake in AKVA Group (OB:AKVA). IC is publicly traded on the Tel Aviv Stock Exchange under the ticker ILCO and is included in the TA-35 index.

* For more details on the sale of 7.3% of Bazan shares please refer to IC 2022 annual financial statements and immediate report dated February 9, 2023

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About Israel Corp - Recent News

• In January 2023, IC announced that the Board of Directors approved the adoption of a dividend policy. IC will distribute dividend for each calendar year starting at 2023, amounting to 45% out of the amount received from: the total net dividend cash flow received from its held companies for that calendar year, less an annual amount of $75m (from the amount of said cash flow). The actual dividend distribution will be subject to IC Board approval.
• Further to the IC's Reports regarding a transaction for the sale of approximately 9% of the shares of Bazan on

November 2021 in which IC granted a call option to each of the purchasers, on February 9, 2023, agreement was reached with the purchasers regarding the exercise of the entirety of the said options, which was implemented on February 13, 2023, for approximately NIS 227m (equivalent to approximately US $64m)

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About Israel Corp - Recent News (cont')

• On February 9, IC announced that subject to the completion of the sale of the underlying shares of the said options and the actual receipt of the consideration thereof by IC, the Board of Directors of IC intends to consider adopting a buyback plan for shares of the company during 2023 in a scope of approximately half of the amount of the consideration.
• On March 3, 2023, IC completed an investment into Nordic

Aqua Partners A/S, which is building an Atlantic Salmon land-based facility in China with AKVA as its technology provider, in an amount of NOK 89m (~$9m).

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