Delek : Investor Presentation – Q2 2021 (En+He)

Q2 2021 Results

August 26th, 2021

Disclaimer

This presentation was prepared by Delek Group Ltd ("Delek", or the "Company"), and is given only for the provision of concise information for the sake of convenience. This presentation does not purport to be comprehensive or to contain any and all information which might be relevant in connection with the making of a decision on an investment in securities of the Company or subsidiaries.

No explicit or implicit representation or undertaking is given by any person regarding the accuracy or integrity of any information included in this presentation. In particular, no representation or undertaking is given regarding the realization or reasonableness of any forecasts regarding the future prospects of the Company or subsidiaries.

To obtain a full picture of the activities of the Company and the risks entailed thereby, please review all immediate and periodic reports filed by the Company with the Israel Securities Authority and the Tel Aviv Stock Exchange, including warnings regarding forward-looking information, as defined in the Securities Law, 5728-1968, included therein. The forward-looking information in the presentation may not materialize, in whole or in part, or may materialize differently than expected, or may be affected by factors that cannot be assessed in advance. For the avoidance of doubt, it is clarified that the Company does not undertake to update and/or modify the information included in the presentation to reflect events and/or circumstances occurring after the date of preparation of the presentation. In addition, data and information regarding Ithaca Energy is based on its disclosures which can be found here: https://www.ithacaenergy.com/investors/results-reports-and-publications

This presentation is not an offer or invitation to buy or subscribe for any securities. This presentation and anything contained herein are not a basis for any contract or undertaking and are not to be relied upon in such context. The information provided in the presentation is not a basis for the making of any investment decision, nor a recommendation or an opinion, nor a substitute for the discretion of a potential investor.

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Q2 2021 - Results' Highlights

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Major Developments during the period

SOURCES WITH INCREASING FINANCIAL FLEXIBILITY

• $1.85B raised in Ithaca under a Re-finance program: In July 2021, a significant refinancing program was successfully completed with a $1.85B raised. The program included amending and extending the Reserves Based Lending (RBL) facility of $1.225B to 2026 and the putting in place of a new $625M bond (senior notes) to be redeemed in 2026, at an average cost of 5.2%.
• IPO/Pre IPO of Ithaca: Delek Group continues to promote an IPO/Pre IPO process of Ithaca by the end of 2021, through the listing of Ithaca's shares in The London Main Stock Exchange.
• Diversified sources which enable the Group financial flexibility, among with: 100%
  Holdings of Ithaca's shares, remaining (25%) holdings in Delek Israel, Leviathan's overriding royalties, the Phoenix loan and real estate.

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