Elron Ventures Ltd · TASE:ELRN
Elron Ventures — Investor Webinar (February 2026)
37 slides from Elron Ventures's conference presentation, Feb 18, 2026
Slide 1: Investor Webinar
Investor Webinar FEB. 18, 2026 ELRONVENTURES.COM
Slide 2: Disclaimer
Disclaimer This presentation is for information purposes only. By this presentation, Marketing and Portfolio Management Law, 5755-1995. forward looking statements will be affected by factors that cannot be Elron does not intend to solicit offers to purchase its securities and the assessed in advance
Slide 3: Elron Ventures Corporate Overview
Elron Ventures Corporate Overview Established in 1962, Israel’s first evergreen fund; partnership with Rafael for over three decades Controlling Shareholder Currently Invests 25 Portfolio Arieli Group, since Sept. 2024 in Deep Tech, Defense Tech, Cybersecurity, SaaS; Companies* Legacy Healthtech por
Slide 4: 2025 Summary - A Year of Building, Exits and Growth
2025 Summary - A Year of Building, Exits and Growth Delivering on our strategy published in January 2025 Under new management, Elron is implementing a strategy focused on early-stage investments in defense-tech and deep-tech, alongside cyber investments. Concluding the year with exits alongside divi
Slide 5: Elron 2026 Outlook
Elron We estimate that in the next 12 months we shall execute 1-3 exit transactions in our portfolio 2026 companies, including RDC’s portfolio (including by secondary transactions). The information set forth below includes "forward-looking information" as defined in Section 32A of the Israeli Securi
Slide 6: Knowledge & Experience Combined
Meet Elron Management Team: Knowledge & Experience Combined to accelerate investment scaling and growth. Lisya Bahar Manoah Yaniv Shnieder Rony Gur Arie Chairperson CEO CFO Managing Partner @ Arieli Group. >15 years Seasoned technology leader with 25 years of Joined Elron Ventures 9 years ago. Overs
Slide 7: Elron's joint team with Rafael
Meet Elron Team: Elron’s joint team with Rafael Lisya Bahar Manoah Managing Partner & Chairperson Yaniv Shnieder Managing Partner & CEO Rony Gur Arie Partner & CFO Liat Shechter Nakash Co-CEO @RDC Lior Levinsky CFO@RDC The strength of our team lies in seamless collaboration and extensive expertise.
Slide 8: Elron Portfolio Snapshot
Elron Portfolio Snapshot Companies crossing all stages as a growth catalyst for the coming years Legend Cybersecurity Medtech SaaS Deep Tech / Defense Tech Other Seed Round A Round B Round C E→ E→ E→ 8
Slide 9: Technology Domains
Our investment profiles: DEEP TECH | DEFENSE TECH | CYBERSECURITY | AI DEEP TECH: DEFENSE TECH: Technology Deep tech breakthroughs Defense tech is driven by the unlock massive, untapped urgent need for smarter, faster, markets with high demand and and more autonomous minimal competition, creating so
Slide 10: Cybersecurity remains the dominant vertical in the local ecosystem
“Cybersecurity remains the dominant vertical in the local ecosystem, both in capital raising and exits” Israel Cybersecurity 2025 $4.81B 43% Value of cybersecurity investments: Share of cybersecurity investments out Not including GenAI investments of $2.75B of overall amount raised $72.6B $150M Valu
Slide 11: Cybersecurity: High Investment Values High M&A Multiples
Cybersecurity: High Investment Values High M&A Multiples Cybersecurity Category Leadership is Built Early INVESTMENTS: M&A: Median Deal Size 2025 Median Revenue Multiple Pre-seed / Seed | $3.5M 9.1X Series A | $14.3M Q3 2024-Q4 2025 Leading Categories Post-quantum, SSE and modern AI-powered security
Slide 12: CyberFuture: A Global CISO-Cybersecurity Investment Vehicle Established by Elron
Our Micro-Fund: CyberFuture: A Global CISO-Cybersecurity Investment Vehicle Established by Elron CyberFuture showcases a select group of top CISOs with resumes from leading global organizations. CISO INVESTORS ‘Separating the wheat from the chaff’ in a fragmented space We are able to identify compel
Slide 13: Geopolitics Has Reset the Deep and Defense Tech Investment Clock
Geopolitics Has Reset the Deep and Defense Tech Investment Clock Defense Tech VC Global defense spending on the rise: Investments: Segments Global 2026 military budgets (145 countries) total $2.86T Advanced computing & software VC investments in defense tech on the rise: Advanced materials & manufac
Slide 14: RDC: Elron and Rafael's Partnership
RDC: Elron and Rafael’s Partnership Boosting Technological, Product and Market Superiority Mobilizing the right mechanisms and teams at Rafael to work with deep tech & cybersecurity ventures RDC’s new Co-CEO: Liat Shechter Nakash, EVP & General Legal Counsel @Rafael TECHNOLOGY SPINOFFS DESIGN PARTNE
Slide 15: Our Deep Tech & Defense Tech Portfolio Companies
Our Deep Tech & Defense Tech Portfolio Companies Addionics: CyberRidge: Wonder Robotics: Porous 3D current collectors that Photonic encryption for Autonomous drone operations in allow cheaper, lighter, faster- quantum-safe data transmission GPS-denied and high-risk charging, and more conductive Foun
Slide 16: Thank You!
Thank You! ELRONVENTURES.COM Lisya Bahar Manoah Yaniv Shnieder Active Chairperson CEO yaniv@elron.com lisya@elron.com yaniv@elron.com
Slide 17: Addionics: Smart Metals
ADDIONICS Smart Metals
Slide 18: Addionics at a glance
Total funding (investments and grants( Investors Customers $ 88mln End users Cell manufacturers Patents 35 Metal companies Applications Machinery suppliers Team Smart Metals Production Facility >75 US EU UK KR Confidential
Slide 19: Smart 3D Porous Current Collectors
Addionics Flagship Product: Smart 3D Porous Current Collectors A proprietary 3D porous copper and aluminum that enhances battery performance while reducing costs Improved Performance The 3D structure enhances mechanical stability Enabling high energy density while maintaining cycle life Optimized By
Slide 20: Scalable, Cost-effective Manufacturing
Scalable, Cost-effective Manufacturing Confidential
Slide 21: High-Capacity Production
High-Capacity Production We leverage commodity-based, existing manufacturing processes to become the first company to successfully develop a highly scalable and cost-effective production method for 3D Current Collectors in copper and aluminum. Today, we produce industry grade 3D Current Collectors,
Slide 22: Fully Integrated Commercial Process
Fully Integrated Commercial Process 100% Integration Seamless roll to roll Achieved industry On clients side process standards manufacturing facility With no bleedthrough or Across key cell assembly defects processes Confidential
Slide 23: Solving Application Challenges
Solving Application Challenges Stronger Power Delivery More Energy, Less Weight Rapid Recharge Readiness High-discharge capability for peak Higher energy density for extended Fast charging for quick mission loads in critical missions range and reduced equipment load turnaround in the field Rugged Re
Slide 24: Markets
Markets Cell Manufacturers Defense Aerospace Robotics Partnering with leading cell Advancing collaboration with a Energy systems built for Powering autonomous makers to integrate next- leading defense fund and missions that cannot be systems where uptime defines generation“ Addionics Inside” design
Slide 25: Thank You.
Thank You. Confidential
Slide 26: Risk-Free, Agile Legacy Systems Modernization
AWS Partner Risk-Free, Agile Legacy Systems Modernization At Your Own Pace OpenLegacy © 2025 Confidential & Proprietary RISK-FREE MODERNIZATION
Slide 27: OpenLegacy at a Glance
OPENLEGACY CONFIDENTIAL OpenLegacy at a Glance Israeli HQ. A roster of Fortune 500 clients primarily across banking, insurance, retail, Manufacturing, HealthCare, Government, and Telecommunications. Representation United States Japan Switzerland Mexico Singapore Denmark Israel Bulgaria
Slide 28: Despite modernization investment tops $500B, mainframe workloads hit all-time high
Reality: Despite modernization investment tops $500B, mainframe workloads hit all-time high 67 4 of the fortune 100 7 of the top 5 airlines of the top global retailers 50B 29B transactions per day 87% of global credit card ATM transactions per year 4B travel bookings per year 8 of the top 10 transac
Slide 29: Why Mainframe Modernization?
HIGH RISK WIDENING GAP Why Mainframe System Complexity Skill Shortages Modernization? Decades-old, entangled monolithic code makes systems Shrinking COBOL/CICS expert pool creates dangerous fragile and opaque. dependency on a retiring workforce. Integration Difficulty Critical Talent Gap 60% Shortag
Slide 30: The Mainframe Modernization Decoupling Challenge
THE CHALLENGE The Mainframe Modernization Decoupling Challenge Legacy integration approaches create bottlenecks that slow down innovation and block AI adoption. Manual Efforts Middleware Complexity Missed Opportunities +200% HIGH 3-5 Years COST INCREASE FAILURE RISK RELEASE DELAY Hand-coded bridges
Slide 31: Solving the Mainframe Modernization Decoupling Challenge
THE SOLUTION Solving the Mainframe Modernization Decoupling Challenge OpenLegacy Hub transforms legacy bottlenecks into integration artifacts with automated, risk-free integration THE COST BARRIER THE RISK FACTOR THE TIME TRAP -200% COST NO FAILURE 10X Faster Automated Factory Standard & Secure Acce
Slide 32: Parallel Modernization Framework
METHODOLOGY DUAL FACTORY APPROACH Parallel Modernization Framework Accelerating modernization through concurrent migration and integration factories DISCOVERY & ANALYSIS MIGRATION FACTORY INTEGRATION FACTORY DEPLOYMENT 1 2 + 3 Assess current landscape Replatform/ refactor / rewrite Generate APIs for
Slide 33: End State: 100% Cloud Native Services
METHODOLOGY DUAL FACTORY APPROACH End State: 100% Cloud Native Services EVALUATION MIGRATION FACTORY INTEGRATION FACTORY DEPLOYMENT 1 2 + 3 Assess apps for refactor vs. reuse Replatform, refactor, or rewrite Generate APIs for coexistence Unified cloud landing zone CLOUD / LANDING ZONE Converted Conv
Slide 34: OpenLegacy enables scalable Legacy to Cloud Modernization
OpenLegacy enables scalable Legacy to Cloud Modernization *
Slide 35: Embedded in AWS Transform as the core integration
ATX Integration 1 Embedded in AWS Transform as the core integration - as part of the Mega-Agentic AI platform. 2 Funding Favorable terms for AWS customers 3 Go-to-Market Scale Direct access to AWS Sales teams, Professional Services, Global Systems Integrators (GSIs), and Systems Integrators (SIs) fo
Slide 36: Why AWS Needs OpenLegacy
Why AWS Needs OpenLegacy The #1 Blocker: Dependencies Risk & Complexity OpenLegacy eliminates risk by safely decoupling data & applications. The benefits for AWS: - Accelerating active modernization timelines - Increasing conversion from Assessment to Migration - Even at discovery / augmentation: se
Slide 37: Growth Acceleration Model
Growth Acceleration Model Higher Conversion AWS validation + Modernization is the use case itself Zero Price Friction Free license reduces buying friction and accelerates adoption timelines Premium ARR Advanced pricing model delivers higher total ARR over 5-year customer lifecycle 1 more thing: Acce