The Dual Listing arrangement allows companies traded on certain stock exchanges, to trade on the Tel- Aviv Stock Exchange (TASE) as well, based on the regulation imposed on them in their home (primary) market. This means that all reporting, disclosure and corporate governance of the company will remain the same.

After dual listing, the companies will also be able to raise money on TASE based on their foreign prospectus, in compliance with their primary market regime.In addition, companies will also be able to issue bonds and other securities that are not traded in their home markets.

Who Is Eligible for Dual Listing?Companies that are traded on the following markets for at least one year or with market capitalization exceeding 150USD million (regardless of how long they have been listed): New York Stock Exchange (NYSE): NYSE, NYSE America;NASDAQ: Global Select Market, Global Market, Capital Market; London Stock Exchange (LSE): Premium List and High Growth Segment (HGS) only - Standard list not included; Toronto Stock Exchange (TMX): Main Board only – TSX-V not included; Singapore Stock Exchange (SGX): Main Board only – Catalyst not included;Hong-Kong Stock Exchange (HKEX): Main Board only – GEM not included.

Adv. Ron Klein International Affairs and BusinessDevelopment Department, ISA dualisting@isa.gov.ilAdv.(CPA) Orly Goldstein

+972-50-7210001 +972-50-7338696

The Benefits of Dual Listing

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How to Dual List? In order to dual-list on TASE, a company must file a one-time short registration document that contains a summary of important information regarding the company, alongside previous annual reports filed by the company on its current stock exchange. A foreign company must also obtain a permit for registration, granted by the ISA. Trading opens two days after filing the registration form.

סמל - רשות ניירות ערך

רשות ניירות ערך Israel securities authority

Israel securities authorityרשות ניירות ערך

Pantone: 533cc=100 M=91 Y=33 K=22

Dual Listing in Tel AvivTwo Markets for the Price of One

Diversification of investor base

Enhanced market traction and possible inclusion in main indices

Greater liquidity

Ability to delist anytime at the company's sole discretion (90-day notice)

Seamless global clearing and settlement

Ability to raise money on TASE based on existing prospectus

Offering expenses are significantly lower in comparison to other markets

Ability to issue new and different securities (such as bonds)

Extremely evolved & liquid corporate bond market (compared to other leading markets globally)

סמל - רשות ניירות ערך

רשות ניירות ערך Israel securities authority

Israel securities authorityרשות ניירות ערך

Pantone: 533cc=100 M=91 Y=33 K=22