News Release

Bezeq - The Israel Telecommunications Corp. Ltd.

(the “Company”)

March 26, 2023

Attn.                                                   

Israel Securities Authority                 

The Tel Aviv Stock Exchange Ltd.

Immediate Report – Announcement of Issuance Results under the Shelf Offering Report dated March 22, 2023

In accordance with Section 30 of the Israel Securities Law, 1968 and the Israel Securities Regulations (Notice of the Results of the Offering in the Prospectus), 1969, the Company announces the results of the issuance of Debentures (Series 13 and 14) of the Company, by way of expansion of the series listed on the main board of the Tel Aviv Stock Exchange Ltd. (the “TASE”), in accordance with the Company’s shelf offering report of March 22, 2023  (the "Shelf Offering Report”), published under the prospectus published on April 7, 2020 and extended by the Israel Securities Authority to April 7, 2023, as set out in the Company's immediate report of April 10, 2022.  

Debentures (Series 13 and 14) of the Company were offered in public tenders ending on March 23, 2023.

1. Results of the tender for Debentures (Series 13) of the Company (the "Series 13 Tender"):

1. 1. Under the Shelf Offering Report, the Company offered the public up to NIS 283,659,000 par value registered Debentures (Series 13) of the Company, unlinked (principal and interest) to any index (“Debentures (Series 13)”). Debentures (Series 13) were offered to the public in 283,659 units, with each unit composed of NIS 1,000 par value Debentures (Series 13) ("Series 13 Units") in a uniform offer, by way of a tender on the unit price, which will be at least NIS 792, subject to the restriction on the quantity set out in section 1.1.4 of the Shelf Offering Report, according to which up to NIS 230,040,000 par value debentures will actually be issued, as set out in the Shelf Offering Report.
   2. Classified investors have made early commitments for applications to purchase 230,040  Series 13 Units, in quantities and unit prices set out in the Shelf Offering Report.
   3. The list of subscriptions for the purchase of Debentures (Series 13) offered to the public opened with the publication of the Shelf Offering Report on Wednesday, March 22, 2023, and closed on Thursday, March 23, 2023 at 16:30.
   4. The results of the Series 13 Tender are as follows:
      1. 34 subscriptions were received from classified investors for the purchase of 230,040 Series 13 Units As set out in section 1.2 above).
      2. The price for a Series 13 Unit, as set out in the tender, is NIS 792 (the "Price for a Series 13 Unit").
      3. 32 subscriptions from classified investors for the purchase of 191,040 Series 13 Units, at a price higher than the Price for a Series 13 Unit that was set, were met in full.
      4. 2 subscriptions from classified investors for the purchase of 39,000 Series 13 Units, at a price higher than the Price for a Series 13 Unit that was set, were met in full.
   5. In accordance with section 6.1.5 of the Shelf Offering Report, the discount rate in the current expansion of Debentures (Series 13) is 21.45974%, and the weighted discount rate for the entire series of Debentures (Series 13) is 10.77924%.
   6. A total of 230,040 Series 13 Units will be allocated for a total monetary consideration (gross) of NIS 182 million.
2. Results of the tender for Debentures (Series 14) of the Company (the "Series 14 Tender"):
   1. Under the Shelf Offering Report, the Company offered the public up to NIS 335,284,000 par value registered Debentures (Series 14) of the Company, linked (principal and interest) to the CPI as set out in section 4.3.1 of the Shelf Offering Report (“Debentures (Series 14)”). Debentures (Series 14) were offered to the public in 335,284 units, with each unit composed of NIS 1,000 par value Debentures (Series 14) ("Series 14 Units") in a uniform offer, by way of a tender on the unit price, which will be at least NIS 855, subject to the restriction on the quantity set out in section 1.2.4 of the Shelf Offering Report, according to which up to NIS 278,363,000 par value debentures will actually be issued  (the “Limit”), as set out in the Shelf Offering Report
   2. Classified investors have made early commitments for applications to purchase 278,363 Series 14 Units, in quantities and unit prices set out in the Shelf Offering Report.
   3. The list of subscriptions for the purchase of Debentures (Series 14) offered to the public opened with the publication of the Shelf Offering Report on Wednesday, March 22, 2023, and closed on Thursday, March 23, 2023 at 16:30.
   4. The results of the Series 14 Tender are as follows:
      1. 34 subscriptions were received from classified investors for the purchase of 278,363 Series 14 Units as set out in section 2.2 above.
      2. The price for a Series 14 Unit, as set out in the tender, is NIS 855 (the "Price for a Series 14 Unit").
      3. 32 subscriptions from classified investors for the purchase of 254,155 Series 14 Units, at a price higher than the Price for a Series 14 Unit that was set, were met in full.
      4. 2 subscriptions from classified investors for the purchase of 24,208 Series 14 Units, at a price higher than the Price for a Series 14 Unit that was set, were met in full.
   5. In accordance with section 6.1.5 of the Shelf Offering Report, the discount rate in the current expansion of Debentures (Series 14) is 19.79362%, and the weighted discount rate for the entire series of Debentures (Series 14) is 10.91282%.
   6. A total of 278,363 Series 14 Units will be allocated for a total monetary consideration (gross) of NIS 238 million.

The Company thanks the investor public for responding to the offer according to the Shelf Offering 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.