Ashtrom Group Ltd. · TASE:ASHG
Ashtrom — Investor Presentation (November 2025)
40 slides from Ashtrom's investor presentation, November 2025
Slide 1: Over 60 Years of Excellence
Over 60 Years of Excellence PRESENTATION FOR CAPITAL MARKET Based on September 30, 2025 Financial Statements November 2025 Convenience Translation into US$ Exchange Tower | Ramat Gan
Slide 2: Disclaimer
| DISCLAIMER This presentation is not to be construed as an offer to buy Company securities or an risks and is uncertain, cannot be estimated in advance and is often out of the Company’s invitation to accept such offers, being solely intended for conveying information to control. investors. The mate
Slide 3: The Strength in Numbers
| THE STRENGTH IN NUMBERS ~ 1,041 Million US$ ~ 39 Million US$ ~ 151 Million US$ ~ 1,659 Million US$ ~ 2,363 Million US$ * Income Net profit attributable EBITDA Equity attributable Orders backlog For the period to shareholders For the period to shareholders as of as of 1-9.2025 1-9.2025 1-9.2025 Sep
Slide 4: Nine Months Financial Overview
| NINE MONTHS FINANCIAL OVERVIEW Income Million US$ Gross Profit Million US$ Operating Profit Million US$ 989 1,041 229 191 218 143 1-9.2024 1-9.2025 1-9.2024 1-9.2025 1-9.2024 1-9.2025 Net profit attributable to EBITDA Million US$ Cash flow from current operations not shareholders Million US$ count
Slide 5: Multi-Year Financial Overview
| MULTI-YEAR FINANCIAL OVERVIEW Income Million US$ Gross Profit Million US$ 1,559 334 1,401 1,458 300 301 1,350 1,349 270 270 1,041 229 2020 2021 2022 2023 2024 1-9.2025 2020 2021 2022 2023 2024 1-9.2025 Operating Profit Million US$ Net profit attributable to shareholders Million US$ 445 282 221 * 3
Slide 6: Multi-Year Financial Overview
| MULTI-YEAR FINANCIAL OVERVIEW EBITDA Cash flow from current operations Million US$ not counting land investment Million US$ 329 250 * 248 295 267 ** 206 244 191 180 194 151 32 2020 2021 2022 2023 2024 1-9.2025 2020 2021 2022 2023 2024 1-9.2025 1-9.2025 * EBITDA excluding the profit of US$ 151 mill
Slide 7: A Decade of Remarkable Growth
| A DECADE OF REMARKABLE GROWTH Equity attributable to shareholders Million US$ 427 403 342 403 1,659 245 1,469 1,434 1,484 1,217 142 981 94 63 693 39 584 9 23 475 386 391 417 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 9.2025 Equity attributable to shareholders Cumulative dividend distri
Slide 8: With a View to the Future
| WITH A VIEW TO THE FUTURE | Income generating – thousand m² | Residential units to be marketed 1,038 thousand m2 17,301 units Income-generating: Planning & construction: In Construction and/or In the process of UDP approval: 541 160 marketing: 1,866 10,440 Approved by UDP: In the process of UDP 4,
Slide 9: Areas of Activity
| AREAS OF ACTIVITY 8 Autonomous Areas of Activity operating with optimal synergy enabling continued growth while taking advantage of operational and financial flexibility Ashtrom Construction Ashtrom Properties Ashtrom Residences Ashtrom Residences for Rent Executes large-scale projects in Initiate
Slide 10: Ashtrom Construction
| ASHTROM CONSTRUCTION Experience. Professionalism. Quality. ~ 2 Billion US$ 8 Companies in the Sector ~ 80 Projects Orders backlog as of September 30, 2025 * Execution of all types of construction Increasing orders backlog while and infrastructure projects maintaining profitability Income Gross Pro
Slide 11: Construction Orders Backlog
| ASHTROM CONSTRUCTION Orders Backlog US$ 1,988 Million Backlog as of September 30, 2025 * Million US$ 669 593 533 541 759 409 306 168 193 176 196 176 186 185 165 Q1 2025 Q2 2025 Q3 2025 Q4 2025 2026 2027 2028 & onwards Orders backlog as of December 31, 2024 Actual execution of works Orders backlog
Slide 12: Construction Projects Under Construction
| ASHTROM CONSTRUCTION Projects Under Construction Selected Projects RISHO Complex Rishon LeZion Kikar Ha Medina Tel Aviv Exchange Tower Ramat Gan Fast Lanes Project 190 thousand m2 453 housing units 355 housing units Financial scope Million US$ 257 Financial scope 50% Million US$ 168 Financial scop
Slide 13: Ashtrom Properties
| ASHTROM PROPERTIES * A Leader in Acquisition, Development, Construction and Management of Income-Generating Properties ~ 541 Thousand m2 ~ 2.3 Billion US$ ~ 0.8 Billion US$ ~ 80 Million US$ ~ 5 Million US$ ~ 20 Million US$ Scope of Real Estate Real Estate Value Total Equity NOI 1-9.2025 FFO 1-9.20
Slide 14: Ashtrom Properties Distribution
| ASHTROM PROPERTIES Properties Distribution * Location Extent of Occupancy NOI Value of Value of Weighted Weighted Average Properties 1-9.2025 income- Rights & Cap Average LTV generating Development Rate Loans Thousand m2 Million US$ Million US$ Million US$ Interest Israel Commerce 101 91% 26 543 5
Slide 15: Income-generating Properties in Israel
| ASHTROM PROPERTIES Income-generating Properties 541 thousand m2 Selected Projects in Israel Hutzot HaMifratz Outlet Bat Yam Mall Hod Hasharon Hi-Tech Park Kanot Complex 65 thousand m2 21 thousand m2 70 thousand m2 24 thousand m2 50% Ownership | 95% Occupancy 50% Ownership | 98% Occupancy 42.3% Own
Slide 16: Income-generating Properties Abroad
| ASHTROM PROPERTIES Income-generating properties Selected Projects Abroad Dusseldorf Fritz Leonberg Leeds Central Square Manchester No8 22 thousand m2 16 thousand m2 21 thousand m2 17 thousand m2 100% Ownership | 96% Occupancy 100% Ownership | 89% Occupancy 100% Ownership | 95% Occupancy 100% Owner
Slide 17: In Planning & Construction Stages
| ASHTROM PROPERTIES In Planning & Construction Stages 160 thousand m2 | US$ 53 million Expected NOI RISHO Complex (1) LYFE C Ashtrom Campus Phase I Hi-Tech Park Colmore Rishon LeZion Bnei Brak Yavneh Hod HaSharon Birmingham 34,470 m2 above ground 44,5000 m2 above ground 35,000 m2 above ground 23,60
Slide 18: In the Process of UDP Approval
| ASHTROM PROPERTIES In the Process of UDP Approval 337 thousand m2 HaYetzira Ramat Gan Nes VaDegel Nes Ziona Campus Yavneh phase II Petach Tikva / Givat Shmuel 41 thousand m2 * | 80% ownership 13 thousand m2 * | 33% ownership 61 thousand m2 *| 100% ownership 43 thousand m2 *| 50% ownership TOTAL 33
Slide 19: Ashtrom Properties NOI
| ASHTROM PROPERTIES NOI * 541 thousand m2 160 thousand m2 701 thousand m2 337 thousand m2 1,038 thousand m2 Extent as of In planning & Expected In the process of Total expected September 30, construction stages 2027-2031 UDP approval 2025 NOI Million US$ 160 100 107 96 78 83 68 2020 2021 2022 2023
Slide 20: Ashtrom Residences
| ASHTROM RESIDENCES (formerly Ashdar) * Leading Company in Residential Initiatives and Urban Renewal ~ 0.7 Billion US$ 1,866 Housing Units 4,995 Housing Units 10,440 Housing Units Expected gross profit Under construction Approved under In the process of yet to be recognized and/or marketing ** UDP
Slide 21: Ashtrom Residences Residential Units
| ASHTROM RESIDENCES Residential Units 17,301 Residential units under Construction, Marketing and in Planning Phases * North 903 units Haifa | Or Akiva Under construction and/or marketing 1,866 HaSharon 5,059 units Netanya | Ra’anana | Herzliya | Ramat Hasharon | Kfar Saba | Tel Aviv 3,439 units 17,
Slide 22: Residences Unrecognized Gross Profit
| ASHTROM RESIDENCES Unrecognized Gross Profit The data reflects the Company’s share Units to be marketed Unrecognized Revenues Unrecognized Gross Profit Units Million US$ Million US$ 1,148 1,222 1,095 168 (12 sold) (321 sold) 1,271 271 3,724 Units 3,748 Million US$ 660 Million US$ 8 101 143 1,211 1
Slide 23: Selected Projects in Marketing
| ASHTROM RESIDENCES Selected Projects in Marketing * Go Yafo Tel-Aviv HaShaked, Kiryat Ono - Phase I Galei Netanya Park Tower, Ramat Gan 350 Units | Ownership: 50% 195 Units 152 Units 180 Units | Ownership: 50% The International Quarter Lod Hadar, Givat Shmuel HaMeha Complex, Ra’anana Ashtrom Park,
Slide 24: Ashtrom Residences for Rent
| ASHTROM RESIDENCES FOR RENT Building Vibrant Communities 2,281 Units ~ 1.3 Billion US$ ~ 0.7 Billion US$ ~ 0.4 Billion US$ At various stages Value of assets Net Financial Debt * Appreciation of projects in operation Operation of 1,126 residential units Construction of 1,155 residential units and c
Slide 25: Residences for Rent: 2,281 Units
| ASHTROM RESIDENCES FOR RENT 2,281 residential units for long-term leasing 1,126 units 176 units 979 units In operation Under construction Under construction Land being planned (purchased) Haifa, Neot Peres In operation Under Construction Haifa | Neot Peres 184 units Bnei Brak North 248 units Tel A
Slide 26: Residences for Rent In Operation
| ASHTROM RESIDENCES FOR RENT In Operation 1,126 Units 943 Million US$ 20 Million US$ 391 Million US$ 49% 2.76% Index linked Rental Units Property Value NOI 1-9.2025 Appreciation of LTV * Average Interest * 100% occupancy Property Until 2039-2043 25% at a controlled price Neot Peres, Haifa HaGadna,
Slide 27: Residences for Rent Under Construction
| ASHTROM RESIDENCES FOR RENT Under Construction 1,155 Units 381 Million US$ 437 Million US$ Property Value Balance to be Invested Purchased Ramat Pinkas Bnei Brak North International Quarter Lod Tel HaShomer South Be’er Ya’akov 176 units 248 units 310 units 139 units 282 units 1,000 m2 commercial 9
Slide 28: Ashtrom Industries
| ASHTROM INDUSTRIES * Comprehensive Value Chain Solutions Under One Roof ~ 0.4 Billion US$ 8 Companies 11 Concrete Plants Orders backlog as of September 30, 2025 Development, production, import, marketing Construction, expansion and operation of and sale of raw materials and products for the additi
Slide 29: Industries Quarries
| ASHTROM INDUSTRIES Quarries Expand activity and Creating of synergy within Increased revenues and geographical distribution in the sector and the Group profitability the field of aggregates, concrete and asphalt Sorek Quarry Hanaton Quarry Expected cumulative EBITDA (25 years) Expected cumulative
Slide 30: Ashtrom Renewable Energy
| ASHTROM RENEWABLE ENERGY Renewable Energy Investments and Development in Israel and Worldwide 402 MWdc 198 MWdc 195 MWdc 1,264MWdc 2,059MWdc 875 MWh Operational Construction Development Initiation Total Storage Beginning of construction of another project in the USA, The Company operates as an ind
Slide 31: Renewable Energy Global Backlog
| ASHTROM RENEWABLE ENERGY Global Backlog 2059 MWdc 875 MWh storage USA MWdc Israel MWdc TOTAL MWdc 875 875 300 300 575 575 Ashtrom Ashtrom Ashtrom Ashtrom share share share share 1,011 1,800 242 242 542 542 1,264 2,059 Ashtrom Ashtrom share share 1,097 1,892 195 195 253 259 195 Ashtrom Ashtrom 198
Slide 32: Operational Project: Tierra Bonita, Texas
| ASHTROM RENEWABLE ENERGY Operational Project Tierra Bonita Project I Texas, USA Output Total Investment In H1 2025 36% of the project company was allocated to 399 MWdc $435 million institutional entities, according to a value of $220 million Storage in initiation 300 MWh Total Expected Income (40
Slide 33: Renewable Energy USA Projects
| ASHTROM RENEWABLE ENERGY USA Projects El Patrimonio Under Construction Texas, USA Planned Output 195 MWdc Construction Costs * $195 million Commercial Operation H2 2027 Total Expected Income ~$1.2 billion (40 years) PPA 20-year PPA was signed with CPS, the San Antonio electric company - rated Aa2
Slide 34: Ashtrom International
| ASHTROM INTERNATIONAL Contracting, Entrepreneurship and Income-generating Real Estate Overseas ~ 126 Million US$ ~ 125 Million US$ Value of Land and Inventory Value of Income-generating Real Estate Land Inventory in the USA, entrepreneurial activity in Portugal , and Expansion of entrepreneurial a
Slide 35: Profit & Loss Statement Summary
| PROFIT & LOSS STATEMENT SUMMARY Million US$ 1-9.2025 1-9.2024 Q3 2025 Q3 2024 2024 Income 1,041 989 357 330 1,349 Gross profit 229 218 79 79 301 Gross profit margin 22.0% 22.1% 22.3% 24.0% 22.3% Appreciation of investment property, net 53 21 11 6 51 Operating profit 191 143 61 56 231 Financing cos
Slide 36: Balance Sheet & Cash Flow Summary
| BALANCE SHEET & CASH FLOW SUMMARY Million US$ 30.09.2025 30.09.2024 31.12.2024 Total cash and short-term investments 498 * 463 398 Liabilities 5,154 5,004 5,051 Equity 1,791 1,540 1,553 Total Balance Sheet 6,945 6,544 6,604 Cash flow from operating activities before investment on lands for constru
Slide 37: Financial Strength – Solo
| FINANCIAL STRENGTH – Solo 176 198 1,659 982 Million US$ Million US$ Million US$ Million US$ Cash Balance & Financial Credit Facilities for Equity Net Financial Debt Short-term Investments Utilization 55.3% Equity Ratio 37.2% Net Debt to CAP Bonds Repayment – not including interest Million US$ 362
Slide 38: Financial Debt
| FINANCIAL DEBT * Gross Financial Debt Net Financial Debt ** US$ 2,934 million 30.09.2025: US$ 2,571 million | 31.12.2024: US$ 2,598 million Million US$ 1,166 Residences for Rent 1,103 Residences 472 390 Renewable Energy 429 560 Institutional Bonds 201 Entities 989 Industries 172 881 191 Internatio
Slide 39: Dedicated to Promoting ESG
| DEDICATED TO PROMOTING ESG E Sustainable Environment S Safe & Healthy Environment G Ethical Business Environment Production, planning, and management of Ensuring the safe and healthy construction of Upholding an ethical infrastructure and sustainable properties and products properties and co
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