Payton Planar Magnetics : Dividend Distribution

PRESS RELEASE

May 31, 2021

SUPPLEMENTAL REPOT TO MARCH 24, 2021 PRESS RELEASE

PAYTON PLANAR MAGNETICS

DISTRIBUTION OF DIVIDEND ON June 17, 2021

Ness Ziona (Israel) - On March 24, 2021, the Board of Directors of Payton Planar Magnetics announced distribution of a gross dividend of USD 0.42 per share or an aggregate amount of USD 7,422 thousands as dividend for the financial years 2019 & 2020.

The dividend is submitted to one single tax of 15%1 . Accordingly, the gross dividend of USD 0.42 per share leads to a net dividend of USD 0.357 per share. The rate of the above tax deduction is with accordance to tax treaties between Israel and the country of residence of the shareholder (Belgium).

Since the company is listed on the Belgian market and the Euro is the customary currency in Belgium, the payment will be done in Euro.

The date for the reimbursement will be Thursday, June 17, 2021. Accordingly, all holders of shares at the close of the trading hours of Euronext Brussels on record date Wednesday June 16, 2021 will be entitled to receive a dividend. The payment will be completed by the custodian financial institution on the shareholders' accounts.

For more information, please visit Payton's website at www.paytongroup.com

or contact Michal Lichtenstein, CFO at [phone] Nathalie Verbeeck at Citigate Dewe Rogerson Belgium + 32 (0) 477 45 75 41 [e-mail]

About us

Payton Planar Magnetics Ltd., an Israeli-basedhigh-tech company, designs, manufactures and markets Planetics®, its customized line of planar transformers, conventional transformers and inductors to Original Equipment Manufacturers and their suppliers of power electronics. The Group currently employs about 175 people (including executive officers). Planar Magnetic Components are used in end products in various industries, including telecom, automotive, cellular infrastructure, Military/Avionics, portable equipment and consumer goods. Planar Magnetics is a revolutionary design technology that is superior to conventional transformers and inductors, and has already been accepted by electronics design engineers as the state-of-the-art in high frequency power electronics design. Payton Planar Magnetics is a subsidiary of Payton Industries, headquartered in Israel, and has manufacturing and marketing operations in Israel, U.K. and United States. Payton Planar Magnetics is publicly traded on the Euronext stock exchange in Brussels (ticker: PAY).

1 Or any applicable tax rate, according to the tax treaty, that will be affective on the dividend payment date.