Investor Presentaiton

Scenario 1 (Base Case) - Real Estate Segment Haifa Seafront Development Area ('000 sqm) 160 140 120 100 80 60 40 26 20 10 2021 2023 Cumulative developed area Key Assumptions: Real Estate - Revenue & EBITDA (NIS Mn) 469 136 118 141 136 500 48% 422 47% 400 47% 46% 300 45% 44% 200 43% 100 43% 42% 182 222 41% 2027 2028 Cumulative open area 2027 2028 Revenue EBITDA Margins adani Ports and Logistics Estimated total capex on real estate development during 2023-27 is around NIS 0.9 Bn HPC's total developed real estate will grow from 0.1 mn sqft in 2021 to 1.18 Mn sqft in 2027 on the selected 17 acres land Monthly leasing revenue varies from NIS 12-17/sqm (for Open space) to NIS 200-260/sqm (for Seafront Buildings), while the ARR for Hotel's varies from NIS 600-750/night EBITDA from real estate development will increase to NIS 222 Mn by 2028 from a single digit no. in 2022 Sale of RE business in 2028 at a cap rate of 7% will yield NIS ~3.2 Bn (-3x the total equity investment in the deal and ~3x the total development cost) 31

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