Supplementary Immediate Report – Agreements Between the Company and Employee Representatives Regarding the Company's Activity to Cancel the Structural Separation
Attn.
Israel Securities Authority The Tel Aviv Stock Exchange Ltd.
Supplementary Immediate Report – Agreements Between the Company and Employee Representatives Regarding the Company's Activity to Cancel the Structural Separation
Further to the Company’s immediate reports dated March 4, 2024, October 9, 2024, and December 26, 2024, as well as section 2.9.6 of the Description of the Company’s Business chapter in the Company’s Periodic Report for 2023 and the update to this section in the Company’s Q3 2024 report, regarding agreements between the Company and its employee representatives concerning the Company’s activity to cancel the structural separation, the Company hereby updates that on February 26, 2025, it received a notice from the Chairman of the Employee Representatives stating that the employee representatives of the Company, along with the employee representatives of its subsidiary, yes Television and Communication Services Ltd. (“yes”), will act in full cooperation on the matter.
The agreements included in the March 4, 2024 report are as follows:
The employee representatives, in coordination with the yes employee representatives, agree to the Company's request to support the initiative, subject to agreements between the parties that include cooperation and updates for the employee representatives regarding the Company’s activities in this matter, including:
- Informing and consulting with the employee representatives prior to any structural changes within the process.
- Regulating the impact of steps taken in the process on Company and yes employees through a collective agreement (or another agreed-upon method), ensuring that no step with such implications will be implemented unilaterally before a reasonable and fair arrangement is reached between the parties, including negotiations on financial compensation for employees.
- Applying the agreement, with necessary modifications, to any similar measure undertaken by the Company in the future concerning other subsidiaries.
The Company believes that the involvement and cooperation of employee representatives both in the Company and at yes will contribute to its efforts to cancel the structural separation between the entities. At this stage, the labor dispute declared in the Company and yes, as reported in the Company’s immediate report dated December 26, 2024, has not yet been resolved.
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.