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Financial Projections: Scenario 1 (Base Case) NIS in millions PORT BUSINESS HPC Volumes UOM 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 in MMT 16 16 17 19 21 23 24 26 27 29 31 % growth % -9% 0% 10% 10% 10% 11% 6% 6% 6% 6% 6% Revenues NIS Mn 796 807 892 988 1,096 1,240 1,331 1,431 1,538 1,655 1,781 % growth % -6% 1% 11% 11% 11% 13% 7% (-) Opex NIS Mn (588) (567) (563) (582) (610) (670) (709) 7% (751) (805) 8% 8% 8% (838) (862) EBITDA NIS Mn 209 240 329 406 487 570 623 680 733 817 919 % of revenues % 26% 30% 37% 41% 44% 46% 47% 48% 48% 49% 52% NIS in millions UOM 2023 2024 2025 2026 2027 2028 REAL ESTATE BUSINESS (RE) Operating Area Sqm Operating Area (including open space) Sqm 176,758 180,679 25,662 40,758 44,679 98,779 118,337 140,653 25,662 234,779 254,337 276,653 Revenues NIS Mn 12 49 103 346 422 469 % growth % 319% 112% 236% 22% 11% (-) Opex NIS Mn (1) (4) (52) (209) (240) (247) EBITDA NIS Mn 10 44 51 137 182 222 % of revenues % 90% 92% 50% 40% 43% 47% adani Ports and Logistics 39

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