Slides
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Capital Market August 2026 Presentation Q 2 2026
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CAPITAL MARKET PRESENTATION 2 This presentation includes information that is based on information published in the financial statements of Big Shopping Centers Ltd . ( “ The Company ” ), which were published in accordance with the Securities Law, 1968 and the regulations promulgated thereunder ( “ The Securities Law ” ), as well as information that is presented in a different manner and/or format and/or breakdown than that presented in the statements published by the Company ( “ The Expanded Information ” ) . The Expanded Information includes, inter alia, financial data that presents the Company ’ s relative share in the financial outcomes of the subsidiaries ( “ effective consolidation ” ), in lieu of presenting this data based on the equity method of accounting and/or consolidating the data in the financial statements published . The purpose of presenting the Expanded Information is increased transparency, uniformity and comparability of the financial information reported by real estate companies . It is hereby clarified that the Expanded Information is not presented in accordance with generally accepted accounting principles, and does not detract from the information the Company has published in its reports pursuant to the Securities Law . Within this presentation, the Company has included, inter alia, forecasts, plans, estimates and other information relating to future events and matters, with respect to itself and to companies within the group, which constitute forward looking information, as this term is defined in the Securities Law, and which are based solely on the Company ’ s subjective evaluation . The realization of said information, in whole or in part, is uncertain and may be impacted by factors that cannot be foreseen and/or that are beyond the Company ’ s control . The realization of said forward looking information, in whole or in part, including in a manner significantly different than that foreseen, or the non - realization thereof, could be impacted, inter alia, by the realization of any of the risk factors that characterize the Group ’ s activities and/or by factors beyond the Company ’ s control that impact the business and competitive environment in which the Company operates, as well as by the realization of all or any of the risk factors detailed by the Company in its reports pursuant to the Securities Law . This presentation was prepared for purposes of brevity and convenience only, and is not intended to replace the need to peruse the reports the Company has published to the public . The content of this presentation is a summary only, and should not be considered a representation or undertaking, including for the completeness or accuracy of said information . To obtain complete and comprehensive information regarding the Company ’ s status, businesses and financial outcomes, and to obtain a complete picture of the Company ’ s activities and the risks it faces, the general and periodic reports published by the Company must be perused . In any case, the information specified in the Company ’ s books, and/or in the general and periodic reports published by the Company, shall prevail . Moreover, the forecasts, plans and estimates are based on data and information in the Company ’ s possession at the time of preparing this presentation, and the Company does not undertake to update and/or change the aforesaid forecasts and/or plans and/or estimates to reflect events and/or circumstances that shall apply subsequent to the time of preparing this presentation . The information included in this presentation, and any other information that will be provided in the course of presenting it, does not constitute a basis for making an investment decision, a recommendation or opinion, or a substitute for discretion on the part of a potential investor . This presentation should not be considered as an offer or invitation to acquire the Company ’ s securities . Disclaimer
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CAPITAL MARKET PRESENTATION 3 Strategy Long - term holding of properties Focusing on improvement and increasing cash flows through effective management of the properties Concentration on 3 main segments The Group also constructs mixed - use projects which include commercial and/or offices and/or residential for rent, and may also include additional uses such as assisted living facilities, to provide added value and attract end users Commercial projects shopping centers such as power centers, malls, and lifestyle complexes Offices office buildings in significant cities and in central locations and office parks that constitute a strong anchor (such as Weizmann Park in Israel and Airport City in Belgrade) Residential for rent (mainly outside of Israel) residential projects located in high - demand major cities
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CAPITAL MARKET PRESENTATION 4 FINANCIAL 1 DATA
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CAPITAL MARKET PRESENTATION 5 Breakdown of Real Estate value BIG Group (Company share in %) Sector Value by Country Value by 52 % Israel 18 % Serbia & Montenegro 1 4 % Romania 9 % Poland 6 % Czech Republic 1 % USA 5 8 % Commercial 3 4 % Offices & Parking 8 % Residential for Rent
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CAPITAL MARKET PRESENTATION 6 Shareholders ’ Equity Growth in NIS millions 13,391 12,022 10,952 9,411 6,645 3,990 4,049 3,437 3,236 2,959 2,494 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 June 2026 13,390
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CAPITAL MARKET PRESENTATION 7 Year - End Yielding GLA in thousands of m 2 | BIG Group Projected end of year Actual Residential for rent Offices Commercial 2,139 1,799 1,155 2,733 2,481 2,179 1,954 2,883 2,080 2018 2019 2020 2021 2022 2023 2024 2025 Jun-26 3,677 3,390 3,182 2026 2027 2028 2029 2030 3,719 3,540
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CAPITAL MARKET PRESENTATION 8 * The fair value forecast is based on the projected NOI, as detailed in Slide 9 , using the capitalization rates currently applied by the Company. Investment Property Fair Value In NIS Millions | BIG Group Effective Projected end of year * Actual 11,236 10,564 8,887 29,166 27,442 22,710 18,530 14,917 29,738 2018 2019 2020 2021 2022 2023 2024 2025 June 2026 Residential for rent Offices Commercial 37,342 31,146 32,666 34,384 38,608 2026 2027 2028 2029 2030
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CAPITAL MARKET PRESENTATION 9 * Projected NOI growth rate assuming 0 % inflation and full occupancy rate. NOI Growth in NIS millions | BIG Group Effective 802 703 603 2,540 2,626 2,347 2,230 2,125 2026 2027 2028 2029 2030 1,954 1,396 1,133 970 1,728 2018 2019 2020 2021 2022 2023 2024 2025 Residential for rent Offices Commercial Projected rate, year - end * Actual 1 - 6/2025 1 - 6/2026 951 956 0.5% Difference Excluding the decrease in the holding rate in AFI Properties, the NOI growth rate compared to the same period last year is 6.5 %
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CAPITAL MARKET PRESENTATION 10 Israel NOI in NIS millions Europe NOI in Euro millions CENTERS NOI for Same Properties 01 - 06/2025 01 - 06/2026 273 276 Difference 01 - 06/2025 01 - 06/2026 40.8 43.1 5.6% Difference 1.1% BIG Group Effective The same - property NOI growth rate for BIG centers in Israel, excluding the impact of Operations 'Rising Lion 25 ' and 'Roaring Lion 26 ', is 2.0 %
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CAPITAL MARKET PRESENTATION 11 Israel NOI in NIS millions Europe NOI in Euro millions AFI PROPERTIES NOI for Same Properties 01 - 06/2025 01 - 06/2026 101.6 110.5 8.8 % Difference 01 - 06/2025 01 - 06/2026 115.9 126.2 8.9% Difference
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CAPITAL MARKET PRESENTATION 12 AFFO Growth in NIS millions | BIG Group Effective Projected rate, year - end * Actual Residential for rent Offices Commercial * The projected AFFO Growth assuming 0 % inflation and full occupancy rate. 323 368 335 1,015 770 717 562 920 2018 2019 2020 2021 2022 2023 2024 2025 1 - 6/2025 1 - 6/2026 498 532 6.8% Difference 1,382 1,432 1,263 1,198 1,147 2026 2027 2028 2029 2030 Excluding the decrease in the holding rate in AFI Properties, the AFFO growth rate compared to the same period last year is 12.2 %
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CAPITAL MARKET PRESENTATION 13 1 - 6/2025 1 - 6/2026 443 493 Europe | BIG Centers Million Euro OCR (Excl. mgmt. fees) OCR (Incl. mgmt. fees) Note that the data is to the best of the Company's knowledge, based on information received from tenants or other third parti es (as applicable), and that the Company cannot verify that this information is accurate. 11.3% Difference Turnover Data – Same Properties 1 - 6/2025 1 - 6/2026 4,152 4,364 Israel | BIG Centers NIS millions 5.1 % Difference 6.4% 6.4 % ( 0% ) 8.3% 8.3% ( 0% ) 7.7% 8.1% ( 4.9% ) 9.5% 9.9% ( 4.1% ) 1 - 6/2025 1 - 6/2026 270 269 Romania | AFI Properties Centers Million Euro ( 0.3 %) Difference 10.9% 10.6 % 2.8% 13.9% 13.5% 3% 2026 vs 2025
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CAPITAL MARKET PRESENTATION 14 New Contracts | 2026 BIG Centers | Israel Average rent per Sqm Contracts # Total area Average area per contract T erminated contracts New contracts Change Options exercised Inc. anchor tenants 176 35,656 203 124 131 5.6% Exc. anchor tenants 173 30,530 177 133 141 6% New contracts 16 2,734 171 182 186 2.2%
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CAPITAL MARKET PRESENTATION 15 GROWTH 2 ENGINES
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CAPITAL MARKET PRESENTATION 16 *The balance of the predicted construction costs on neutralizing a proportionate share of the parking construction costs attr ibu table to stages B – D The above Company estimates constitute forward looking information, as it is defined in the Securities Law. Such estimates ma y n ot materialize, in full or in part, or may materialize in a different manner, including a fundamentally different manner, than expected, for various reasons Big Fashion Petach Tikva | Phase A* In NIS millions | As of 30 June 2026 Fair value Accrued cost Construction cost balance Projected NOI Expected launch date Yield rate 824 692 1,247 164 2029 8.5% 100% BIG ’ s share % 65 K Sqm Commercial 40 K Sqm Offices 58% Marketing % 76% Marketing % Under Construction | BIG
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CAPITAL MARKET PRESENTATION 17 The above Company estimates constitute forward looking information, as it is defined in the Securities Law. Such estimates may not materialize, in full or in part, or may materialize in a different manner, including a fundamentally different manner, than expected, for various reasons Big Fashion Ashkelon In NIS millions | As of 30 June 2026 Fair value Accrued cost Construction cost balance Projected NOI Expected launch date Yield rate 66 44 398 40 2028 9.1% BIG ’ s share % 37 K Sqm Commercial 10 K Sqm Offices 50% Under Construction | BIG
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CAPITAL MARKET PRESENTATION 18 The above Company estimates constitute forward looking information, as it is defined in the Securities Law. Such estimates may not materialize, in full or in part, or may materialize in a different manner, including a fundamentally different manner, than expected, for various reasons Big Fashion Ness Ziona In NIS millions | As of 30 June 2026 Fair value Accrued cost Construction cost balance Projected NOI Expected launch date Yield rate 235 222 834 86 2030 8.2% BIG ’ s share % 42 K Sqm Commercial 87% Under Construction | BIG The above forecast takes into account the revenues and construction costs of the commercial component only, assuming the sale of the apartments and offices.
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CAPITAL MARKET PRESENTATION 19 30 June 2026 | BIG ’ s share 203 NIS millions Kaniel Kfar Saba 23 NIS millions Ness Ziona 72 NIS millions Glilot 257 NIS millions Petah Tikva 180 K Sqm Commercial, employment, & hospitality 15 K Sqm Employment 640 units Residential 82 units Rental residential 410 units Assisted living 3.7 K Sqm Commercial 79 K Sqm Employment Total lands NIS 838 million 80 K Sqm Offices 10 K Sqm Commercial 283 NIS millions Additional lands Growth Engines Under Development | BIG 100 % BIG's share 47.4 % BIG's share 87 % BIG's share 50% BIG's share
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CAPITAL MARKET PRESENTATION 20 EUROPE 3 ACTIVITY
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CAPITAL MARKET PRESENTATION 21 Actual NOI in Euro millions | BIG ’ s share, effective BIG Europe | Key Data 2019 2020 2021 2022 2023 2024 2025 June 2026 229 239 367 561 679 1,054 1,245 1,299 Assets value | in Euro millions 99% 99% 98 % 99% 97% 98 % 97% Occupancy rate 1 - 6/2025 1 - 6/2026 41.8 48.2 15.3% Difference 99%
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CAPITAL MARKET PRESENTATION 22 30 June 2026 Projected NOI Project Effective Holding rate GLA | 100 % Costs incurred * Remaining construction costs 2026 2027 2028 2029 Total Yielding rate % Dzierzoniow 95.5% 16,844 10.2 21.1 2.3 - - - 7.2% Konstantynow 66.9% 13,040 7.9 5.8 1.2 - - - 8.7% Olkusz 47.8% 13,457 7.3 2.9 0.8 - - - 8.1% Tarnow 95.5% 24,384 1.0 40.8 - 3.0 - - 7.2% Kalisz 95.5% 20,312 6.4 26.9 - 2.4 - - 7.2% Pila 76.4% 18,050 11.1 8.6 - 1.8 - - 9.2% Gniezno 71.6% 18,748 - 20.5 - 1.5 - - 7.1 % Bolesławiec 71.6% 17,302 10.9 6.5 - 1.4 - - 7.8% Suwalki extension 95.5% 7,500 - 7.9 - 0.9 - - 10.9% Myszkow extension 95.5% 6,500 - 6.8 - 0.8 - - 12% Total Properties under constructions | Poland 156,137 54.8 147.6 4.3 11.8 - - 16.1 8 % Niksic 95.5% 12,000 1.6 13.4 - 1.4 - - 9.2% Cacak Phase 2 95.5% 15,000 3.9 14.2 - - 1.9 - 10.4% BIG Fashion Podgorica extension 95.5% 20,000 - 57.3 - - - 5.7 10% Total Properties under constructions | Serbia and Montenegro 47,000 5.5 84.9 - 1.4 1.9 5.7 9.0 10% Total 203,137 60.3 232.5 4.3 13.2 1.9 5.7 25.1 8.6% BIG Europe | Growth Engines in Euro millions * The book value as of 30 June 2026 is identical to the cost incurred as of that date .
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CAPITAL MARKET PRESENTATION 23 POLAND Growth engine for the Company ’ s activity in Europe Existing centers Projects Under Development SUWAŁKI OLSZTYN OSTRÓDA Gdańsk KOSZALIN PIŁA GORZÓW WŁOCŁAWEK Warsaw LUBNA ŁÓDŹ KONSTANTYNÓW LUBIN BOLESŁAWIEC WROCŁAW DZIERŻONIÓW MYSZKÓW OLKUSZ KRAKÓW ANDRYCHÓW TARNÓW GNIEZNO KALISZ KIELCE
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CAPITAL MARKET PRESENTATION 24 4 Liquidity & Flexibility
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CAPITAL MARKET PRESENTATION 25 Liquidity and Financial Flexibility As of June 30 , 2026 Exc. AFI Properties Cash Balance and Deposits 1,041 Signed and available credit lines 600 NIS million NIS million Uncollatera lized assets 6.8 Income - producing assets 5.3 NIS billion The Company holds marketable AFI Properties shares Thereof not pledged 72% Value of shares 4.6 NIS billion S&P Ma ’ alot Moody ’ s ( Midroog ) stable / ilAA Unsecured debt Unsecured debt Aa 3 .il Secured debt Aa 2 .il Secured debt stable / ilAA
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CAPITAL MARKET PRESENTATION 26 2026 2027 2028 2029 2030 2031 2032 2033 2034 Total Bank Debt in Israel 215 174 272 - - - - - - 661 Total loans from banks and financial institutions 215 174 272 - - - - - - 661 Total unsecured Bond Series 203 579 676 564 572 673 741 696 275 4,979 Total secured Bond Series 59 676 457 658 574 350 1,012 - - 3,786 Loans to partners for bonds 25 , 22 , 17 , 16 ( 7 ) ( 7 ) ( 123 ) ( 123 ) - - ( 135 ) - - ( 395 ) Total secured bonds series excluding loans to partners 52 669 334 535 574 350 877 - - 3,391 Total 470 1,422 1,282 1,099 1,146 1,023 1,618 696 275 9,031 | Without commercial securities papers totaling 150 million NIS, against which a signed credit line stands || Excluding Bonds Series 19 , which is directly backed by assets in Serbia |||The debt in Israel reflects a duration (Macaulay) of 3.74 years Debt Repayment Overview | Israel Without AFI Properties in NIS millions
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CAPITAL MARKET PRESENTATION 27 Thank You Assaf Nagar Deputy CEO 073 - 2600410 054 - 5660147 assaf@bigcenters.co.il
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CAPITAL MARKET PRESENTATION 28 5 Appendices
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CAPITAL MARKET PRESENTATION 29 (Exc. AFI Properties) In NIS millions, as of 30 June 2026 BIG Overview Geographic Sectors ISRAEL EUROPE USA * GLA, m 2 ( 100 %) 700 ,000 653 ,000 107,000 Average occupancy App, 100 % 9 9 % 9 8 % Total value of Investment property 10,568 4,410 389 Total value of Assisted living 344 - - Value of properties under development 1,125 164 - Value of lands 838 291 - Advances on real estate 6 41 - Residential units inventory 145 100 - Allocation rate 70% 28% 2 % Stabilized NOI 696 352 31 Stabilized CAP rate 6 . 6 % 8.0 % 8.0 % * Including asset held for sale (Sparks)
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CAPITAL MARKET PRESENTATION 30 Consolidated Balance Sheet | BIG ’ s effective share Israel Israel USA USA Europe Europe Total effective consolidated ) exc . AFI ( Total effective consolidated ) exc . AFI ( Total effective consolidated ) Inc . AFI ( Total effective consolidated ) Inc . AFI ( 30/06/2026 31/12/2025 30/06/2026 31/12/2025 30/06/2026 31/12/2025 30/06/2026 31/12/2025 30/06/2026 31/12/2025 NIS thousands NIS thousands $ thousands $ thousands € thousands € thousands NIS thousands NIS thousands NIS thousands NIS thousands Current assets Cash and cash equivalents 495,275 591,322 98,725 99,525 58,864 27,792 989,190 1,012,904 2,586,585 2,336,528 Deposits and securities 38,060 39,431 - - 4,073 4,362 51,884 55,772 114,094 125,432 Tenants 34,797 33,012 751 1,117 9,674 11,535 69,875 79,780 134,084 155,405 Receivables and other debit balances 101,931 115,668 82 6,430 17,307 14,934 162,166 195,307 364,447 456,645 Short - term inventory of residential units 144,852 129,529 - - 20,907 15,793 215,821 188,679 376,559 368,049 Asset available for sale - - 66,400 - 6,556 14,087 220,062 52,764 239,444 68,754 Total Current assets 814,915 908,962 165,958 107,072 117,381 88,503 1,708,998 1,585,206 3,815,213 3,510,813 Non - current assets Long - term loans and other receivables 771,257 785,450 20,744 20,315 39,509 32,768 963,870 971,822 2,184,328 1,990,738 Long - term inventory - - - - 8,607 8,603 29,218 32,220 483,341 451,626 Investment in associated companies 6,693,862 7,028,380 - - - - 6,694,024 7,028,501 356,286 371,168 Investment property ( rental property ) 10,912,011 10,639,788 64,017 124,878 1,292,505 1,244,972 15,490,124 15,701,193 28,926,275 29,669,432 Investment property under construction 1,962,750 1,752,147 - - 133,955 83,241 2,417,458 2,063,927 4,210,826 3,764,072 Property , plant and equipment 381,543 392,791 - - 4,992 4,528 398,488 409,750 504,868 492,356 Intangible assets 56,870 56,586 - - - - 56,870 56,586 167,910 167,626 Deferred tax asset - - - - - - - - 11,210 12,887 Total non - current assets 20,778,293 20,655,142 84,761 145,193 1,479,568 1,374,112 26,050,052 26,263,999 36,845,044 36,919,905 Total assets 21,593,208 21,564,104 250,719 252,265 1,596,949 1,462,615 27,759,050 27,849,205 40,660,257 40,430,718
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CAPITAL MARKET PRESENTATION 31 Consolidated Balance Sheet | BIG ’ s effective share Israel Israel USA USA Europe Europe Total effective BIG ) exc . AFI ( Total effective consolidated ) exc . AFI ( Total effective consolidated ) Inc . AFI ( Total effective consolidated ) Inc . AFI ( 30/06/2026 31/12/2025 30/06/2026 31/12/2025 30/06/2026 31/12/2025 30/06/2026 31/12/2025 30/06/2026 31/12/2025 NIS thousands NIS thousands $ thousands $ thousands € thousands € thousands NIS thousands NIS thousands NIS thousands NIS thousands Current liabilities Credit from banks and others ) 632,152 ( ) 873,223 ( - - ) 68,663 ( ) 34,594 ( ) 865,231 ( ) 1,002,796 ( ) 2,248,753 ( ) 3,093,822 ( Current maturities of debentures ) 935,503 ( ) 1,166,943 ( - - ) 1,799 ( ) 699 ( ) 941,833 ( ) 1,175,814 ( ) 1,827,321 ( ) 1,996,204 ( Trade payables ) 100,920 ( ) 101,175 ( ) 618 ( ) 1,228 ( ) 18,560 ( ) 16,373 ( ) 165,756 ( ) 166,418 ( ) 268,009 ( ) 262,978 ( Other payables and credit balances ) 240,201 ( ) 258,552 ( ) 28,482 ( ) 28,361 ( ) 15,821 ( ) 14,113 ( ) 381,151 ( ) 401,903 ( ) 733,727 ( ) 869,807 ( Liability held for sale - - ) 1,145 ( - - - ) 3,411 ( - - - Total current liabilities ) 1,908,776 ( ) 2,399,893 ( ) 30,245 ( ) 29,589 ( ) 104,843 ( ) 65,779 ( ) 2,357,382 ( ) 2,746,931 ( ) 5,077,810 ( ) 6,222,811 ( Non - current liabilities * Loans from the parent company 1,050,073 1,161,852 - - ) 309,411 ( ) 310,199 ( - - - - Liabilities to banks and others ) 415,692 ( ) 459,325 ( - - ) 535,450 ( ) 505,673 ( ) 2,233,278 ( ) 2,353,323 ( ) 7,129,848 ( ) 7,292,059 ( Debentures ) 7,894,730 ( ) 7,486,180 ( - - ) 49,317 ( ) 44,423 ( ) 8,062,138 ( ) 7,646,293 ( ) 12,332,075 ( ) 10,739,724 ( Tenant deposits ) 7,811 ( ) 7,904 ( ) 158 ( ) 243 ( ) 7,867 ( ) 7,515 ( ) 35,083 ( ) 36,920 ( ) 110,303 ( ) 107,929 ( Liabilities for employee benefits and share - based payment ) 1,469 ( ) 1,317 ( ) 1,355 ( ) 1,355 ( ) 8,077 ( ) 6,423 ( ) 32,925 ( ) 29,698 ( ) 35,438 ( ) 31,834 ( Liability in respect of financing lease ) 26,981 ( ) 27,238 ( - - - - ) 26,981 ( ) 27,238 ( ) 47,197 ( ) 48,760 ( Other long - term liabilities ) 20,972 ( ) 21,542 ( - - - - ) 20,972 ( ) 21,542 ( ) 20,972 ( ) 21,542 ( Deferred taxes ) 1,467,120 ( ) 1,439,052 ( ) 1,041 ( ) 9,369 ( ) 38,240 ( ) 34,096 ( ) 1,600,028 ( ) 1,596,647 ( ) 2,516,351 ( ) 2,575,446 ( Total non - current liabilities ) 8,784,702 ( ) 8,280,706 ( ) 2,554 ( ) 10,967 ( ) 948,362 ( ) 908,329 ( ) 12,011,405 ( ) 11,711,661 ( ) 22,192,184 ( ) 20,817,294 ( Total liabilities ) 10,693,478 ( ) 10,680,599 ( ) 32,799 ( ) 40,556 ( ) 1,053,205 ( ) 974,108 ( ) 14,368,787 ( ) 14,458,592 ( ) 27,269,994 ( ) 27,040,105 ( Shareholders ’ equity ) 10,555,889 ( ) 9,499,473 ( ) 209,118 ( ) 193,175 ( ) 493,110 ( ) 406,152 ( ) 12,841,750 ( ) 11,628,008 ( ) 12,841,750 ( ) 11,628,008 ( Income for the period ) 343,841 ( ) 1,384,032 ( ) 8,802 ( ) 18,534 ( ) 50,634 ( ) 82,355 ( ) 548,513 ( ) 1,762,605 ( ) 548,513 ( ) 1,762,605 ( Equity attributable to the Company ’ s shareholders ) 10,899,730 ( ) 10,883,505 ( ) 217,920 ( ) 211,709 ( ) 543,744 ( ) 488,507 ( ) 13,390,263 ( ) 13,390,613 ( ) 13,390,263 ( ) 13,390,613 ( Total liabilities and equity ) 21,593,208 ( ) 21,564,104 ( ) 250,719 ( ) 252,265 ( ) 1,596,949 ( ) 1,462,615 ( ) 27,759,050 ( ) 27,849,205 ( ) 40,660,257 ( ) 40,430,718 (
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Profit and Loss | Cumulative BIG ’ s effective share Israel Israel USA USA Europe Europe Total effective consolidated ) exc . AFI ( Total effective consolidated ) exc . AFI ( Total effective consolidated ) Inc . AFI ( Total effective consolidated ) Inc . AFI ( 1-6/2026 1-6/2025 1-6/2026 1-6/2025 1-6/2026 1-6/2025 1-6/2026 1-6/2025 1-6/2026 1-6/2025 NIS thousands NIS thousands $ thousands $ thousands € thousands € thousands NIS thousands NIS thousands NIS thousands NIS thousands Revenues from rents 302,529 272,755 7,033 9,570 52,357 44,126 509,072 480,831 950,124 965,902 Revenues from management fees 102,757 94,238 2,490 3,575 13,297 11,230 157,787 151,746 311,498 316,077 Revenues from solar electricity 10,599 5,445 - - - - 11,145 5,445 11,145 5,445 Total revenues 415,885 372,438 9,523 13,145 65,654 55,356 678,004 638,022 1,272,767 1,287,424 Total Operating expenses ) 87,853 ( ) 84,424 ( ) 4,211 ( ) 5,564 ( ) 17,487 ( ) 13,586 ( ) 162,910 ( ) 158,020 ( ) 329,530 ( ) 343,679 ( Total revenue from Senior housing 4,785 3,601 - - - - 4,785 3,601 4,785 3,601 Total income from construction and land transactions 1,208 90 - - - - 1,208 90 4,392 3,241 Total income from construction work on BOT projects - - - - - - - - 3,377 188 NOI 334,025 291,705 5,312 7,581 48,167 41,770 521,087 483,693 955,791 950,775 Reduction of options to employees ) 17,592 ( ) 11,088 ( - - ) 1,333 ( ) 21 ( ) 22,312 ( ) 11,171 ( ) 29,218 ( ) 14,282 ( Headquarters costs ) 36,956 ( ) 33,170 ( ) 2,010 ( ) 460 ( ) 4,255 ( ) 3,393 ( ) 57,943 ( ) 48,172 ( ) 102,660 ( ) 94,882 ( Contributions ) 2,568 ( ) 3,074 ( - - ) 57 ( - ) 2,762 ( ) 3,074 ( ) 4,171 ( ) 3,645 ( Total management expenses ) 57,116 ( ) 47,332 ( ) 2,010 ( ) 460 ( ) 5,645 ( ) 3,414 ( ) 83,017 ( ) 62,417 ( ) 136,049 ( ) 112,809 ( EBITDA 276,909 244,373 3,302 7,121 42,522 38,356 438,070 421,276 819,742 837,966 Real financing expenses ) 89,032 ( ) 73,027 ( 2,002 ) 385 ( ) 14,956 ( ) 14,331 ( ) 136,794 ( ) 130,679 ( ) 302,994 ( ) 321,853 ( Intercompany financing revenues ( expenses ) 14,554 20,238 3,176 3,174 ) 7,453 ( ) 8,549 ( - - - - 202,431 191,584 8,480 9,910 20,113 15,476 301,276 290,597 516,748 516,113 Inflationary financing expenses ) 98,326 ( ) 117,672 ( - - - - ) 98,326 ( ) 117,672 ( ) 140,005 ( ) 173,185 ( Exchange rate differences ) 174,308 ( 122,538 - - ) 275 ( ) 26 ( ) 175,324 ( 122,425 ) 91,896 ( 126,722 Total increase in fair value of investment property and inventory , net 225,280 367,192 3,429 ) 1,359 ( 37,661 ) 2,187 ( 365,289 353,839 431,657 389,522 Depreciation ) 5,836 ( ) 6,165 ( - - ) 259 ( ) 147 ( ) 6,748 ( ) 6,744 ( ) 9,270 ( ) 8,949 ( Equity income ( loss ) of others 949 ) 3,995 ( - - - - 949 ) 3,995 ( 949 ) 3,995 ( Equity income ( loss ) of real estate companies 238,562 169,944 - - - - 238,562 169,944 ) 3,631 ( 18,667 Other income ( expenses ) ) 6,361 ( ) 11,712 ( - - ) 4 ( 1 ) 6,369 ( ) 11,697 ( ) 10,912 ( ) 12,907 ( Total 179,960 520,130 3,429 ) 1,359 ( 37,123 ) 2,359 ( 318,033 506,100 176,892 335,875 Income before taxes on income 382,391 711,714 11,909 8,551 57,236 13,117 619,309 796,697 693,640 851,988 Taxes on income ) 38,550 ( ) 108,319 ( ) 3,107 ( ) 2,258 ( ) 6,602 ( ) 2,186 ( ) 70,796 ( ) 125,086 ( ) 145,127 ( ) 180,377 ( Net income 343,841 603,395 8,802 6,293 50,634 10,931 548,513 671,611 548,513 671,611
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Profit and Loss | Quarterly BIG ’ s effective share Israel Israel USA USA Europe Europe Total effective BIG ) exc . AFI ( Total effective consolidated ) exc . AFI ( Total effective consolidated ) Inc . AFI ( Total effective consolidated ) Inc . AFI ( 4-6/2026 4-6/2025 4-6/2026 4-6/2025 4-6/2026 4-6/2025 4-6/2026 4-6/2025 4-6/2026 4-6/2025 NIS thousands NIS thousands $ thousands $ thousands € thousands € thousands NIS thousands NIS thousands NIS thousands NIS thousands Revenues from rents 167,911 138,297 3,481 4,684 26,868 22,794 270,230 247,660 485,822 498,411 Revenues from management fees 51,746 48,425 1,732 1,980 6,373 5,734 78,891 79,043 154,740 160,514 Revenues from solar electricity 6,904 3,367 - - - - 7,306 3,367 7,306 3,367 Total revenues 226,561 190,089 5,213 6,664 33,241 28,528 356,427 330,070 647,868 662,292 - - - - - - - - - - Total Operating expenses ) 44,412 ( ) 43,143 ( ) 2,677 ( ) 3,023 ( ) 9,066 ( ) 7,489 ( ) 83,767 ( ) 84,394 ( ) 163,465 ( ) 173,821 ( - - - - - - - - - - Total revenue from Senior housing 2,344 1,641 - - - - 2,344 1,641 2,344 1,641 - - - - - - - - - - Total income from construction and land transactions 1,471 ) 38 ( - - - - 1,471 ) 38 ( 2,205 2,327 - - - - - - - - - - Total income from construction work on BOT projects - - - - - - - - 2,989 249 - - - - - - - - - - NOI 185,964 148,549 2,536 3,641 24,175 21,039 276,475 247,279 491,941 492,688 - - - - - - - - - - Reduction of options to employees ) 8,796 ( ) 5,544 ( - - ) 875 ( ) 77 ( ) 11,841 ( ) 5,851 ( ) 15,794 ( ) 7,407 ( Headquarters costs ) 18,719 ( ) 15,721 ( ) 1,811 ( ) 226 ( ) 2,114 ( ) 1,733 ( ) 31,255 ( ) 23,538 ( ) 52,528 ( ) 49,727 ( Contributions ) 1,988 ( ) 2,548 ( - - ) 12 ( - ) 2,017 ( ) 2,548 ( ) 2,872 ( ) 2,880 ( Total management expenses ) 29,503 ( ) 23,813 ( ) 1,811 ( ) 216 ( ) 3,001 ( ) 1,810 ( ) 45,113 ( ) 31,937 ( ) 71,194 ( ) 60,014 ( - - - - - - - - - - EBITDA 156,461 124,736 725 3,425 21,174 19,229 231,362 215,342 420,747 432,674 - - - - - - - - - - Real financing expenses ) 48,083 ( ) 39,896 ( 999 ) 621 ( ) 7,654 ( ) 7,665 ( ) 71,842 ( ) 71,310 ( ) 154,692 ( ) 171,543 ( Intercompany financing revenues ( expenses ) 7,305 11,622 1,599 1,995 ) 3,365 ( ) 4,350 ( - - - - 115,683 96,462 3,323 4,799 10,155 7,214 159,520 144,032 266,055 261,131 - - - - - - - - - - Inflationary financing expenses ) 106,876 ( ) 97,878 ( - - - - ) 106,876 ( ) 97,878 ( ) 145,452 ( ) 142,984 ( Exchange rate differences ) 114,618 ( 12,836 - - 45 ) 61 ( ) 114,470 ( 12,588 ) 47,239 ( 29,607 Total increase in fair value of investment property and inventory , net 172,316 102,195 4,047 ) 562 ( 33,417 ) 567 ( 298,747 97,875 384,964 150,634 Depreciation ) 3,890 ( ) 4,533 ( - - ) 142 ( ) 77 ( ) 4,375 ( ) 4,846 ( ) 5,642 ( ) 6,057 ( Equity income ( loss ) of others 4,636 1,415 - - - - 4,679 1,415 4,679 1,415 Equity income ( loss ) of real estate companies 161,615 109,273 - - - - 161,573 109,273 ) 4,325 ( 7,496 Other income ( expenses ) ) 19 ( ) 6,380 ( - - ) 21 ( ) 3 ( ) 89 ( ) 6,381 ( ) 4,366 ( ) 7,844 ( Total 113,164 116,928 4,047 ) 562 ( 33,299 ) 708 ( 239,189 112,046 182,619 32,267 - - - - - - - - - - Income before taxes on income 228,847 213,390 7,370 4,237 43,454 6,506 398,709 256,078 448,674 293,398 Taxes on income ) 8,057 ( 2,014 ) 1,916 ( ) 1,142 ( ) 5,459 ( ) 1,284 ( ) 32,408 ( ) 7,300 ( ) 82,373 ( ) 44,620 ( Net income 220,790 215,404 5,454 3,095 37,995 5,222 366,301 248,778 366,301 248,778 Powered by TCPDF (www.tcpdf.org)