Turpaz Industries Ltd. announced that on January 25, 2024, a wholly owned subsidiary of the Company, took out a loan from a banking institution, according to which the Banking Institution will provide the Subsidiary with a loan to the amount of Euro 33 million, which will be used to finance acquisitions of companies and activities around the world, including financing of the Sunspray Solutions Proprietary Limited in South Africa 1 acquisition, as detailed below: Repayment schedule (principal and interest). The Loan Amount will be for a period of five (5) years, bearing interest at the Euro LIBOR rate plus 1.9% which will be paid on a quarterly basis. The loan fund will be repaid in equal quarterly payments, starting at the end of 12 months from the date the loan was placed.

Compliance with financial covenants. The Subsidiary has committed that the group will meet the debt coverage ratio and the capital to balance sheet ratio, under the same conditions as the financial relationships existing in the Company's current financing agreements. Security.

The Subsidiary committed to the Banking Institution not to create a lien on all of its assets, except in the cases and under the conditions detailed in the current negative lien document. The Company and the Subsidiary have no additional costs in connection with taking the loan, with the exception of the interest specified in section 1 above.