Ashtrom Group Ltd. · TASE:ASHG
Ashtrom — Q1 2026 Earnings Presentation
37 slides from Ashtrom's earnings presentation, May 2026
Slide 1: Over 60 Years of Excellence - Presentation for Capital Market
Over 60 Years of Excellence PRESENTATION FOR CAPITAL MARKET May 2026 Based on March 31, 2026 Financial Statements Convenience Translation into US$ GO YAFO TEL AVIV
Slide 2: Disclaimer
DISCLAIMER This presentation is not to be construed as an offer to buy Company securities or an control. invitation to accept such offers, being solely intended for conveying information to The materialization or otherwise of forward-looking information will be affected, among investors. other thing
Slide 3: The Strength in Numbers
THE STRENGTH IN NUMBERS 1963 TA-90 A Rating Year of Foundation Traded on the Index With a Stable Outlook Commitment to ESG & by S&P - Maalot Corporate Responsibility 350 Million US$ 70 Million US$ 44 Million US$ Income Gross Profit EBITDA Q1 2026 Q1 2026 Q1 2026 (12) Million US$ 1,690 Million US$ 2,
Slide 4: Areas of Activity
AREAS OF ACTIVITY 8 Areas of Activity Providing for Business Flexibility, Financial Strength and Risk Diversification Ashtrom Construction Ashtrom Industries Ashtrom Properties Ashtrom Residences US$ 2.6 Billion US$ 0.4 Billion 1,091 Thousand m 2 18,354 Units Orders Backlog * Orders Backlog Income-G
Slide 5: First Quarter Financial Overview
FIRST QUARTER FINANCIAL OVERVIEW Million US$ Income Gross Profit Operating Profit 364 355 79 49 70 16 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Net Profit (Loss) Attributable to EBITDA Cash Flow for Current Operations Shareholders not Counting Land Investment 49 1 44 (30) (12) (37) Q1 2025 Q1
Slide 6: Multi-Year Financial Overview
MULTI-YEAR FINANCIAL OVERVIEW Million US$ Income Gross Profit 1,628 1,523 348 1,410 1,409 1,470 313 314 323 282 355 70 2021 2022 2023 2024 2025 Q1 2026 2021 2022 2023 2024 2025 Q1 2026 Operating Profit Net Profit (Loss) Attributable to Shareholders 464 294 231 * 339 * 286 241 86 54 111 10 16 (12) 20
Slide 7: Multi-Year Financial Overview
MULTI-YEAR FINANCIAL OVERVIEW Million US$ EBITDA Cash Flow from Current Operations not Counting Land Investment 261 * 259 308 279 * 255 212 200 187 203 146 44 (37) 2021 2022 2023 2024 2025 Q1 2026 2021 2022 2023 2024 2025 Q1 2026 * EBITDA and Cash Flow excluding profit and income attributable to the
Slide 8: A Decade of Remarkable Growth
A DECADE OF REMARKABLE GROWTH Million US$ Increase in Equity With Time More than a 4-fold increase 446 in equity attributable to shareholders 477 357 421 421 1,752 1,690 256 1,534 1,498 1,550 149 1,271 1,025 98 65 24 41 724 9 610 403 408 435 496 IPO Year 31.12.2014 31.12.2015 31.12.2016 31.12.2017 3
Slide 9: Ashtrom Construction
ASHTROM CONSTRUCTION Execution of Construction and Infrastructure Projects 2.6 Billion US$ ~ 70 Orders Backlog Projects in Progress as of 31.12.2025 * Income Gross Profit Segment profit Million US$ Million US$ Million US$ Q1 2026 Q1 2025 2025 Q1 2026 Q1 2025 2025 Q1 2026 Q1 2025 2025 197 202 804 15
Slide 10: Construction | Orders Backlog Distribution
ASHTROM CONSTRUCTION | Orders Backlog Distribution US$ 2,629 million Backlog as of March 31, 2026 * 820 860 790 Orders backlog as of December 31, 2025 Actual execution of works Q1 2026 754 & orders backlog as of March 31, 2026 638 596 537 451 216 240 198 197 212 208 208 202 Q1 2026 Q2 2026 Q3 2026 Q
Slide 11: Construction | Projects
ASHTROM CONSTRUCTION | Projects Selected Projects Under Construction and Planning RISHO Complex Rishon LeZion Kikar HaMedina Tel Aviv Gindi Glil Yam 190 thousand m2 | US$ 269 million 453 Units | US$ 175 million (our share) 505 Units | US$ 144 million Weizmann Complex Herzliya Acro on the Boulevard T
Slide 12: Ashtrom Industries
ASHTROM INDUSTRIES * Development, Production, Import and Marketing of Materials for the Construction Industry US$ 0.4 billion 8 9 Orders Backlog Subsidiaries Concrete Plants Income Gross Profit Segment Profit Million US$ Million US$ Million US$ Q1 2026 Q1 2025 2025 Q1 2026 Q1 2025 2025 Q1 2026 Q1 20
Slide 13: Industries | 8 Subsidiaries
ASHTROM INDUSTRIES | 8 Subsidiaries Concrete & Mortar White Blocks Gypsum Blocks Sealing Solutions Finishing, Paint & Flooring, Cladding Gypsum Construction Raw Materials Sealing Products & Sanitaryware Products & Aggregates Convenience Translation: Amounts have been converted into US$ equivalent at
Slide 14: Industries | Quarries
ASHTROM INDUSTRIES | Quarries Quarry Ownership: 37.5% | Commercial Operation: H2 2026 Sorek Quarry Hanaton Quarry Expected cumulative EBITDA (25 years) Expected cumulative EBITDA (20 years) ~ US$ 126 million Company’s share ~ US$ 79 million Company’s share ~ 50 million tons capacity ~ 18 million ton
Slide 15: Ashtrom Properties
ASHTROM PROPERTIES * Initiation, Acquisition and Management of Income-Generating Properties 2.6 Billion US$ 0.9 Billion US$ 30 Million US$ Real Estate Value Total Equity NOI Q1 2026 Income Gross Profit Property Appreciation Segment Profit Million US$ Million US$ Million US$ Million US$ Q1 2026 Q1 20
Slide 16: Properties | Properties Distribution
ASHTROM PROPERTIES | Properties Distribution * - Extent of Occupancy NOI Value of Value of Cap rate - Properties Q1 2026 Income-Generating Rights & Development Thousand m2 Million US$ Million US$ Million US$ Weighted Israel Commerce 103 92% 9 580 58 7.1% - Offices 52 86% 3 215 238 7.0% - Industry &
Slide 17: Properties | Under Construction & Planning
ASHTROM PROPERTIES | Under Construction & Planning * 160 thousand m 2 US$ 56 million Under Construction & Planning Expected Annual NOI Increase RISHO Rishon LeZion(1) COLMORE Birmingham Yavne Campus - phase I LYFE C Bnei Brak Hod Hasharon Hi-tech Park Million US$ 34,470 m2 | 26% ownership 22,300 m2
Slide 18: Properties | In the Process of UDP Approval
ASHTROM PROPERTIES | In the Process of UDP Approval 337 thousand m 2 In the Process of UDP Approval HaYetzira Ramat Gan Nes VaDegel Nes Ziona Yavneh Campus - phase II Petach Tikva / Givat Shmuel 41 thousand m2 * | 80% ownership 13 thousand m2 * | 33% ownership 61 thousand m2 * | 100% ownership 43 th
Slide 19: Properties | NOI Development
ASHTROM PROPERTIES | NOI Development * Facing Forward 594 thousand m 2 160 thousand m 2 754 thousand m 2 337 thousand m 2 1,091 thousand m 2 Real Estate Scope Under Construction Expected Real In the Process of Total Expected as of 31.03.2026 & Planning Estate Scope 2031 UDP Approval Real Estate Scop
Slide 20: Ashtrom Residences
ASHTROM RESIDENCES * Initiation and Marketing of Residential and Urban Renewal Projects US$ 1.2 Billion 18,354 Units 9,840 Units Tel Aviv & 5,449 Units HaSharon 2,162 Units Jerusalem 903 Units Northern Total Equity At various stages ** Central Area Area Income Gross Profit Segment Profit Units’ Sold
Slide 21: Residences | Unrecognized Gross Profit
ASHTROM RESIDENCES | Unrecognized Gross Profit Projects under construction and/or marketing and projects in which construction is expected to begin by the end of 2029 The data reflects Ashtrom Residences share, excluding partners and landowners 4,461 US$ 4,629 million US$ 848 million Units to be mar
Slide 22: Residences | Selected Projects in Marketing
ASHTROM RESIDENCES | Selected Projects in Marketing * GO Yafo Tel Aviv The International Quarter Lod Ashtrom Park Be’er Ya’akov ** 350 Units | 50% ownership 263 Units (150 Units in marketing, phase I) 260 Units Galei Netanya Hadar Givat Shmuel HaMeha Complex Ra’anana 152 Units 122 Units 111 Units *
Slide 23: Ashtrom Residences for Rent
ASHTROM RESIDENCES FOR RENT Initiation, Marketing and Management of Residential Projects for Long-Term Rental 3,280 Units for Rent 1.6 Billion US$ 0.9 Billion US$ At Various Stages Value of Assets Net Financial Debt Excluding Equity Investment Income Gross Profit Appreciation Segment Profit Million
Slide 24: Residences for Rent | In Operation
ASHTROM RESIDENCES FOR RENT | In Operation 1,126 Units US$ 993 million US$ 579 million US$ 414 million 48% 25% at a controlled price Property Value Investment Cumulative Average LTV 100% Occupancy as of 31.03.2026 * Appreciation Avg. Int.: 2.77% index linked Neot Peres, Haifa HaGadna, Tel Aviv HaMas
Slide 25: Residences for Rent | Under Construction
ASHTROM RESIDENCES FOR RENT | Under Construction 1,155 Units US$ 478 million US$ 376 million US$ 132 million Property Value Predicted Balance of Cumulative as of 31.03.2026 Investments Depreciation, Net Neve Ayalon Bnei Brak North Intl. Quarter Lod Tel HaShomer South Be’er Ya’akov Million US$ 176 Un
Slide 26: Residences for Rent | In Planning
ASHTROM RESIDENCES FOR RENT | In Planning Shikun HaRofim, Tel HaShomer 999 Units 190 Units ~ 23 thousand m 2 For Rent For Sale Commercial & 600 Units for medical staff Business Space 399 Units “Housing for Rent” US$ 82 million US$ 607 million 2031-2032 Investment Predicted Balance Expected as of 31.
Slide 27: Ashtrom Renewable Energy
ASHTROM RENEWABLE ENERGY Initiation, Development and Operation of Renewable Energy Projects 1,536 MWdc 1,175 MWh Solar Storage Income Gross Profit Segment Profit EBITDA Million US$ Million US$ Million US$ Million US$ Q1 2026 Q1 2025* 2025* Q1 2026 Q1 2025* 2025* Q1 2026 Q1 2025* 2025* Q1 2026 Q1 202
Slide 28: Renewable Energy | Projects
ASHTROM RENEWABLE ENERGY | Projects In Operation Under Construction TIERRA BONITA | Texas, USA EL PATRIMONIO | Texas, USA Expected Commercial Operation H2 2027 Output Total Investment Storage in Development Output Expected Investment 399 MWdc $435 million 300 MWh 195 MWdc $250-255 million Total Expe
Slide 29: Renewable Energy | Global Portfolio
ASHTROM RENEWABLE ENERGY | Global Portfolio USA Israel Total 600 1,175 600 1,175 293 575 * 575 293 390 1,277 642 195 1,536 252 * 199 259 399 4 3 402 Operation Construction Development Initiation Total Operation Construction Development Total Operation Construction Development Initiation Total Solar
Slide 30: Ashtrom International
ASHTROM INTERNATIONAL Construction, Entrepreneurship and Income-Generating Real Estate Overseas 1,661 Units 121 Million US$ 123 Million US$ Portugal, USA Value of Land and Value of Income- & Jamaica Inventory Generating Real Estate Income Gross Profit Segment Profit Million US$ Million US$ Million U
Slide 31: Profit & Loss Statement | Consolidated
PROFIT & LOSS STATEMENT | Consolidated Million US$ Q1 2026 Q1 2025 2025 Income 356 364 1,470 Gross profit 70 79 323 Gross profit margin 19.9% 21.6% 21.9% Appreciation of investment property, net (15) 4 95 Operating profit 16 48 286 Financing costs, net 31 48 196 Income taxes (tax benefit) (2) (1) (1
Slide 32: Balance Sheet & Cash Flow | Consolidated
BALANCE SHEET & CASH FLOW | Consolidated Million US$ 31.03.2026 31.03.2025 31.12.2025 Liabilities 5,736 5,256 5,424 Equity 1,822 1,819 1,887 Total balance sheet 7,558 7,075 7,311 Cash & short-term investments 331 408 506 Financial credit facilities for utilization 359 404 428 - Q1 2026 Q1 2025 2025
Slide 33: Financial Strength | Solo
FINANCIAL STRENGTH | Solo 55 Million US$ 200 Million US$ 1,690 Million US$ 1,106 Million US$ Cash Balance & Financial Credit Equity Net Financial Debt Short-Term Investments Facilities for Utilization 54.5% 39.6% Equity Ratio Net Debt to CAP Bond Repayment not including interest Million US$ 221 181
Slide 34: Financial Debt | Excluding Ashtrom Properties
FINANCIAL DEBT | Excluding Ashtrom Properties Million US$ Gross Financial Debt Net Financial Debt Credit excluding cash, deposits, short and long-term investments and inter-sectoral credit 31.03.2026 | US$ 3,252 million 31.03.2026 | US$ 3,018 million 31.12.2025 | US$ 2,675 million 1,381 Residences f
Slide 35: Business Strategy for the Coming Years
BUSINESS STRATEGY FOR THE COMING YEARS Increasing the construction Development and Development of orders backlog expansion of the income-generating and appropriate preparation industrial sector properties in Israel for the Metro tenders and acquisition of properties worldwide Expansion of residentia
Slide 36: Dedicated to Promoting ESG
DEDICATED TO PROMOTING ESG E Sustainable Environment By 2040 50% By 2040 75% By 2050 100% By 2050 Net Zero Production, planning, and management of Reduction in Renewable energy Green certification Carbon neutrality sustainable properties and products greenhouse gas in significant for assets and pr
Slide 37: Over 60 Years of Excellence
Construction ‘Residences for Rent Renewable Energy International