Disclaimer The following presentation was prepared by Meitav Dash - - PowerPoint PPT Presentation

• The following presentation was prepared by Meitav Dash Investments Ltd. (hereinafter: the “Company”) and is intended for institutional investors only.

This presentation does not comprise an opinion, suggestion, recommendation or purchase consultation / marketing and / or holding and / or sale of securities and / or financial assets (including the Company's securities and / or any of the Companies of the Meitav Dash Group's issued financial assets). This presentation is not a substitute for investment consultation / marketing or pension consultation / marketing that takes into account each person's specific needs. This presentation is intended only for delivery and presentation of the information provided and its presentation does not replace the need to review reports published by the Company to the public.

• The following is the opinion of the authors alone, and reflects their understandings at the time of the presentation. The information, details and

analysis set forth in this presentation, including the views expressed, may change without further notice.

• The occurrence of certain matters discussed in this presentation, including projections, objectives, assumptions, estimates and any other information

relating to future events and / or matters, is uncertain and is not under the Company's control. Information relating to a forecast of the Company's revenues and profitability, is all forward-looking statements, as it is defined by the Securities Law, 1968, and is based on the subjective assessments

• f the Company’s management based on data and information that the Company had at the presentation's time of preparation. The realization or non-

realization of forward-looking statements will be affected, among other things, by risk factors characterizing the Company's activities of the , developments in the general environment and external factors affecting the Company's activities, which cannot be estimated in advance and are not under the Company's control. The results of the Company’s activities may be materially different than the estimated or implicit results stated in this presentation.

• For details concerning the consequences of the Corona virus, see slide 4 of this presentation, section 1.2 of the Board of Directors' Report and Note

1.B of the Financial Statements for the first quarter of 2020.

2

Disclaimer

I.D. Meitav Dash

NIS Billion

AUM*

As at 24/05/2020 *As at 31/03/2020 AUM amounted to NIS 116 billion

859 859

NIS Million

Shareholders Equity

As at 31/03/2020

A1

Bond Rating

609 609

NIS Million

Market Value

3

As at 31/03/2020 As at 31/03/2020 Maya Holdings is controlled by Mr. Avner Stepak BRM is controlled by Mr. Eli Barkat

124 124

Experience, professionalism and fairness are leading Meitav Dash for over 40 years. Our goal is to provide quality service and invest the savings and finances of over a million customers in a responsible and transparent way.

Maya Holdings BRM Finance Free Float Employees

28% 29% 40% 3%

4

Corona Virus Effects

Company's actions

• Operational: reduction in expenses in

response to the expected decline in revenue

• Cash Flow: expansion of series D

debentures by NIS 112 million. Freeze dividend distribution policy in Q4 2019 and Q1 2020

• Opportunity: share buyback up to NIS

25 million Positive effects

• Increased revenue from Trade &

Institutional Brokerage

• Increased revenue from market

making in ETFs

• Accelerating digital activity
• Increased operational efficiency
• Investment opportunities and new

product launches Negative effects

• AUM in the first quarter decreased to NIS

116 Billion. As of the date of releasing the financial statements the AUM amounted to NIS 124 Billion

• The company recorded an impairment

loss of NIS 14 million in the provident & pension funds activity

• Increased provisions in credit activities

Range of Products and Services

5

Credit & Fintech Asset Management & Trade Activities Long Term Savings

Provident, Study and Pension Funds

Short Term Savings

Mutual Funds, ETFs and Portfolio Management

Trade & Brokerage Foreign Funds Distribution Insurance Agencies

Peninsula

SME Credit in Israel

Lotus Investment Group

SME Credit in Ireland

Meitav Dash Loans

Consumer Credit in Israel

Fintech & Alternative Investments:

• Liquidity Capital
• Reigo
• Pagaya

Provident Funds, Study Funds and Pension Funds 54.6 ETFs & Tracking Funds 25.2 Mutual Funds 25.0 Portfolio Management 19.1

AUM UM

124

NIS Billion

6

As at 31/03/2020

Provident Funds, Study Funds and Pension Funds 51.6 ETFs & Tracking Funds 22.6 Mutual Funds 23.8 Portfolio Management 17.9

116

NIS Billion

As at 24/05/2020

SME Credit- Peninsula 9% Long Term Savings (LTS) 32% Short Term Savings (STS) 37% Trade & Brokerage 15% Other 7% SME Credit - Peninsula 15% Long Term Savings (LTS) 24% Short Term Savings (STS) 50% Trade & Brokerage 10% Other 1%

Other = Lotus, Insurance Agencies, Global Markets, Meitav Dash Loans, Alternative Investments, Nostro and

• ther activities

7

71

NIS Million

239

NIS Million

Selected Financial Data Q1 2020

Revenues Normalized EBITDA

EBITDA Q1 2020 30 Profit before tax 36 Depreciation and amortization 4 Financing expenses, net 70 EBITDA

Selected Financial Data

8 Q1 2020 Q4 2019 Q1 2019 2019 Revenues* 239 232 246 934 Expenses 184 191 181 718 EBITDA 70 56 80 279 Normalized EBITDA 71 65 80 291 Profit for the period 13 14 32 96 Profit attributed to the shareholders 9 8 29 78

*Including Nostro. In NIS Million

9

Long-Term Savings (LTS)

• The largest pension fund among the selected

pension funds in MOF tender, with assets of

• ver NIS 11.4 billion
• High ranking in investment performance over the

past year

• Recorded an impairment loss of NIS 14 million in

the provident & pension funds activity

2019 Q1 2019 Q4 2019 Q1 2020 57.2 53.5 57.2 51.6 AUM in NIS Billion 318 79 81 77 Revenue in NIS Million 0.58% 0.60% 0.57% 0.56% Annualized Management Fees 44 10 6 14 Operating Profit in NIS Million

51.6 51.6

NIS Billion

20.4 20.4

Provident Funds Study Funds Pension Funds

8.1 8.1%

AUM Market Share

10

19.8 19.8 11.4 11.4

As at 31/03/2020

Short-Term Savings (STS)

• The largest mutual fund company in Israel with wide

range of products including traditional mutual funds, tracking funds and ETFs

• Meitav Dash Manager - Digital Portfolio

Management (“Robo Advisor”) from NIS 25,000

11

2019 Q1 2019 Q4 2019 Q1 2020 78.7 75.7 78.7 64.3 AUM in NIS Billion 342 86 85 88 Revenue in NIS Million 117 31 26 37 Operating Profit in NIS Million

22.6 22.6

NIS Billion

AUM ETFs & Tracking Funds

23.8 23.8

NIS Billion

AUM Mutual Funds

17.9 17.9

NIS Billion

AUM Portfolio Management

As at 31/03/2020

Trade & Brokerage

• The leading non-bank TASE member
• New client recruitment in Q1 2020 tripled relative to

the average of 2019.

• Advanced trading system and mobile app for
• pening a digital account enabling a quick and

efficient onboarding process as well as advanced trading tools

12

2019 Q1 2019 Q4 2019 Q1 2020 104 31 24 35 Revenue in NIS Million 35 11 7 8 Operating Profit in NIS Million

Of the trading turnover in shares and bonds on the Tel Aviv Stock Exchange

8.4 8.4%

14.7 14.7

NIS Billion Customer Assets

As at 31/03/2020

13

Peninsula - SME Credit

2.1 2.3 4.4 4.8 7 8.1 8.4 10.2 13.4 14 18.5 22.6

Q1-2015 Q1- 2016 Q1- 2017 Q1- 2018 Q1- 2019 Q1- 2020

Revenue Net Profit

25% 22.5% 32.8% 34.3% 37.8% 35.7%

Net income /revenue

Alternative Investments

14

The information regarding the Company's assessment of the apparent collaborations and the execution of the equity round is forward-looking information based on the Company's assessment and there is no certainty of their realization. The deterioration of global capital markets may adversely affect the Company's estimates

Liquidity is a Fintech company that has developed advanced systems for continuous underwriting of technology companies, which are based on real-time analysis of their business operations with an innovative financing model of acquiring future cash flows from these companies. Liquidity manages a $ 75 million investment fund, based on its model. In addition, Liquidity is examining the use

• f the software that was developed in additional investment activities and has received offers from foreign fund managers of

various types who wish to implement the system in their field. Liquidity is in preliminary contacts with international investors to carry out a round of capital raising. Such capital raise, if it occurs, may add significant value to the company and generate considerable accounting profit if the company will lose control in Liquidity . The company does not expect to sell shares in the capital raise.

Alternative Investments

15

Pagaya

Specializes in retail credit in the US using unique technology

Reigo

Specializes in providing collateralized loans for the purchase

• f US real estate properties using a unique big data algorithm to minimize risk

Emerald 3

Specializes in the core areas of Lotus Investment Group: providing credit backed by a first lien for the construction of land-linked residences, financing yielding properties including properties and land for rapid improvement in major urban locations with a focus on Greater Dublin

16

Balance Sheet (In NIS Million)

17

As at 31/12/2019 As at 31/03/2020

570 784 Cash and short-term investments 988 1,055 Other current assets 1,558 1,839 Total current assets 311 360 Long term investments 1,353 1,326 Fixed assets and intangible assets 19 19 Deferred taxes 3,241 3,544 Total assets

Net Debt to EBITDA Excluding Credit companies Net debt Excluding Credit companies 1.6 X 366 As at 31/12/2019 As at 31/03/2020

667 825 Credit from banks and others 48 44 Liabilities for short sale of securities 289 355 Trade and other payables 1,004 1,224 Total current liabilities 12 9 Loans from banks 897 855 Debentures 326 323 Other long term liabilities 856 859 Equity 146 274 Non-controlling interests 3,241 3,544 Total liabilities and equity

Profit and Loss

18

2019 Q1 2019 Q4 2019 Q1 2020

844 217 212 224 Revenue from management fees, commissions and other 81 18 21 23 Revenue from Peninsula 925 235 233 247 Total revenue 718 181 191 184 General and administrative expenses, marketing, sales, and financing expenses from non bank credit 207 54 42 63 Operating income 9 11 ( 1 ) ( 8 ) Profit (loss( from securities held for investment purposes in nostro portfolio ( 32 ) ( 5 ) ( 7 ) ( 4 ) Financing expenses, net ( 44 ) ( 12 ) ( 11 ) ( 21 ) Other expenses, net 6 1 1

• Company's share in earnings in equity accounted investees

146 49 24 30 Profit before taxes on income 50 17 10 17 Taxes on income 96 32 14 13 Profit for the period 78 29 8 9 Profit attributed to the shareholders

Champion Tower, 30 Sheshet Hayamim, Bnei Brak Phone: 972-3-7903000 Fax: 972-3-7778001 www.meitavdash.co.il