News Release

Bezeq - The Israel Telecommunications Corp. Ltd.

(the “Company”)

March 19, 2023

Attn.                                                    

Israel Securities Authority                  

The Tel Aviv Stock Exchange Ltd.

Re: Assessment of a possible issuance of Debentures (Series 13 and 14) of the Company by way of expansion of the series

The Company announces that it is considering an issuance on the Tel Aviv Stock Exchange Ltd. (the “TASE”) of Debentures (Series 13-14) of the Company (jointly: the “Debentures”) by way of expansion of the series in circulation and traded on the TASE, which will be offered to the public in a uniform offer through the Company's shelf offering report (the "Shelf Offering Report") to be published, if published, by way of the Company’s listing and unlocking shelf prospectus dated April 8, 2020 and published on April 7, 2020, the validity of which was extended up to April 7, 2023^[1] (the “Issuance”).

For information about the terms of the Debentures (Series 13-14) and the deeds of trust for the Debentures (Series 13-14), see the Company's shelf offering report dated December 21, 2021,  which is included in this immediate report by way of a reference.

It should be clarified that publication of the shelf offering report, the execution of the offering, and establishing the offering structure, scope, and terms, are subject to the Company's judgment,  obtaining the approvals required by law, including a permit from the Israel Securities Authority to publish the shelf offering report, the approval of the TASE, and the approval of the Company's board of directors, and also depend on the changing market conditions. Therefore, as from the date of this immediate report, it is uncertain whether the issuance will be executed.

This report should not be considered as an offer to the public or an invitation to purchase the Company's securities, and there should be no purchase of securities or undertaking to purchase securities of the Company under this report. 

Yours sincerely,

“Bezeq” The Israel Telecommunication Corp Limited

The above information constitutes a translation of the Immediate Report published by the Company. The Hebrew version was submitted by the Company to the relevant authorities pursuant to Israeli law, and represents the binding version and the only one having legal effect. This translation was prepared for convenience purposes only.