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    RCOM   INE330H01018

RELIANCE COMMUNICATIONS LIMITED

(RCOM)
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Reliance Communications : ADV. EHUD SOL WILL APPLY TO THE COURT FOR THE APPROVAL OF A TRANSACTION SUBJECT TO CLOSING CONDITIONS TO SELL THE COMPANY'S SHARES UNDER HIS RECEIVERSHIP

11/25/2021 | 03:00am EST

PARTNER COMMUNICATIONS REPORTS THAT ADV. EHUD SOL WILL APPLY TO THE COURT FOR THE APPROVAL OF A TRANSACTION SUBJECT TO CLOSING CONDITIONS TO SELL THE COMPANY'S SHARES UNDER HIS RECEIVERSHIP

ROSH HA'AYIN, Israel, November 25, 2021 - Partner Communications Company Ltd. ("Partner" or the "Company") (NASDAQ and TASE: PTNR), a leading Israeli communications operator, reports, that Advocate Ehud Sol, as the permanent receiver over 49,862,800 of the Company's shares held by S.B. Israel Telcom Ltd. ("SBIT"), that constitute approximately 27% of the Company's issued and outstanding share capital (the "Shares"), notified SBIT and the Company on November 24, 2021 (the "Notice"), that he received on said date an offer to purchase the Shares from a group of parties led by the Phoenix group, Mr. Avi Gabbay and Mr. Shlomo Rodav (the "Offeror"), on an "as is" basis, in consideration for US $ 300,000,000 (the "Offer) and the he supports the Offer and will apply to the Tel Aviv District Court in front of which the receivership proceedings are being conducted (the "Court") for its approval. Additionally, the holders of the Fixed Rate Secured Notes of SBIT have informed Advocate Ehud Sol that they support the Offer.

According to the Notice, several Israeli institutional investors are joining the Offeror, and their payment commitments under the Offer are backed by a guarantee of entities in the Phoenix group.

The Notice states that the Offer includes customary closing conditions, including approval of the transaction by the Court and by the Ministry of Communications and the Competition Authority, and must close within 120 days of the date of the Court approval, with the Offeror having an option to extend by an additional 30 days, otherwise the transaction will terminate.

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About Partner Communications

Partner Communications Company Ltd. ("Partner") is a leading Israeli provider of telecommunications services (cellular, fixed-line telephony, internet and television services). Partner's ADSs are quoted on the NASDAQ Global Select Market™ and its shares are traded on the Tel Aviv Stock Exchange (NASDAQ and TASE: PTNR).

For more information about Partner see:

http://www.partner.co.il/en/Investors-Relations/lobby/

Contacts:

Mr. Tamir Amar

Mr. Amir Adar

Deputy CEO & Chief Financial Officer

Head of Investor Relations & Corporate

Tel: +972-54-781-4951

Projects

Tel: +972-54-781-5051

Email: investors@partner.co.il

2

רשאל טפשמה תיבל הנפי לוס דוהא ד"וע יכ העידומ תרושקת רנטרפ ודי לע תוקזחומה הרבחה תוינמ תריכמל םילתמ םיאנתל הפופכה הקסע םיסכנ סנוככ

)"הרבחה" וא "רנטרפ"( מ"עב תרושקת רנטרפ תרבח - 2021 ,רבמבונב 25 ,לארשי ,ןיעה שאר

,לוס דוהא ד"וע יכ ,העידומ ,לארשיב הליבומ תרושקת תליעפמ ,)PTNR :TASE -ו NASDAQ( םוקלט לארשי .ב.ס תרבח תולעבב תואצמנה הרבחה תוינמ 49,862,000 לע עובקה םיסכנה סנוככ עידוה ,)"תוינמה" :ןלהל( הרבחה לש ערפנהו קפנומה ןוההמ 27%-כתווהמה ,)"ט.י.ב.ס" :ןלהל( מ"עב שוכרל העצה דעומ ותואב לביק אוה יכ )"העדוהה" :ןלהל( 2021 רבמבונב 24 םויב הרבחלו ט.י.ב.סל רמו יאבג יבא רמ ,סקינפה תצובק תלבוהב םידדצ רפסממ תבכרומה הצובקמ )AS IS( תוינמה תא ךמות אוה יכו )"העצהה" :ןלהל( ב"הרא רלוד ןוילימ 300 הרומתב ,)"העיצמה" :ןלהל( בדור המלש לבקל )"טפשמה תיב" :ןלהל( סוניכה יכילה םילהנתמ וב ביבא לתב יזוחמה טפשמה תיבל הנפיו העצהב דוהא ד"ועל העידוה ט.י.ב.ס לש חטבומה בוחה ילעב יכ לוס דוהא ד"וע ידי לע רסמנ ,ןכ ומכ .ורושיא תא

.העצהב םיכמות םה יכ לוס

העצהה יפל םולשתל םתובייחתהו העצהל ופרטצי םיילארשי םיידסומ םיעיקשמ רפסמ ,העדוהל םאתהב

.סקינפה תצובקמ םידיגאת לש תוברעב הבוגמ

לע הקסעה רושיא תוברל ,הקסעה תמלשהל םילבוקמ םילתמ םיאנת תללוכ העצהה יכ תנייצמ העדוהה ךותב תויהל בייח הקסעהה תמלשה דעומ .תורחתה תושרו תרושקתה דרשמ ידי לע ,טפשמה תיב ידי 30 -ב הפוקתה תא ךיראהל תוכזה תא שי העיצמל רשאכ ,טפשמה תיב רושיא תלבק דעוממ םוי 120

.לטובת הקסעה תרחא ,םיפסונ םימי

תרושקת רנטרפ תודוא

יתוריש תקפסמה לארשיב הליבומ תרושקת תליעפמ איה )"רנטרפ"( מ"עב תרושקת רנטרפ תרבח רנטרפ לש ADS-ה תודועת .)היזיוולט יתורישו טנרטניא יתוריש ,תחיינ הינופלט ,תדיינ( תרושקת ביבא-לת תסרובב תורחסנ רנטרפ לש היתוינמו (Global Select Market) ק"דסאנב תורחסנ

.)PTNR :TASE-ו NASDAQ( http://www.partner.co.il/en/Investors-Relations/lobby/:רנטרפ לע םיפסונ םיטרפל

3

:ףסונ עדימל

רדא רימא רמ

רמא רימת רמ

םיטקיורפו םיעיקשמ ירשק להנמ

ישאר םיפסכ להנמו ל"כנמל הנשמ

+972 (54) 781-5051 :'לט

+972 (54) 781-4951:'לט

investors@partner.co.il:ל"אוד

4

Disclaimer

Reliance Communications Limited published this content on 25 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 November 2021 07:59:01 UTC.


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