Investor PresentationDecember 31, 2016

Investments Ltd

I.D.

I.D.Meitav Dash is a public company with extensive experience and expertise in asset management.Meitav Dash is one of the two leading investment firms in Israel, with total assets under management of NIS 122* billion.

A1

125

NIS Million

NIS MillionAs at 29.12.16

BondRating

In theTA-125Index

ShareholdersEquity

MarketValue

Total AssetsUnderManagement

DividendDistributionPolicy

699As at 31.12.16

1,194

NIS Billion*

At least of net profit

122

50%As at 31.12.16

BRM28.38%

Zvi Stepak27.27%

Shares heldby the public37.80%

As at 31.12.16

Shareholders

On January 1, 2017, NIS 7.5 billion Ayalon Provident Funds and Pension Funds assets were merged.

Range of Products and Services

CoreActivitiesAUM as at 31.12.16 in NIS Billion

28.1ETNs

Provident Funds, Study Fundsand Pension Funds*

27.5 41.518.6

Mutual Funds

Portfolio Management

OtherActivities Meitav Dash Capital Markets College

Meitav Dash TradeMeitav Dash BrokerageMeitav Dash Global Markets

Peninsula - Business Credit E-Loan - Consumer Credit Insurance Agencies

*On January 1, 2017, NIS 7.5 billion Ayalon Provident Funds and Pension Funds assets were merged.

Revenue in 2016

Other =Insurance Agencies , College, Global Markets, etc.

Provident Funds,Study Funds

and Pension FundsNIS 280 million

%36

Mutual Funds& Portfolio

ManagementNIS 211 million

27%

ETNsNIS 124 million

16%

OtherNIS 65 million

9%

775TotalRevenue

NIS Million

Trade & BrokerageNIS 69 million 9%

PeninsulaNIS 26million

3%*

*Peninsula's revenue is included as of Q3 2016

Selected Financial Data20152016H2-2016Q4-2016Q3-2016H1-2016Q2-2016Q1-2016NIS million

119,109115,691115,691115,691116,295116,130116,130116,267AUM

736775407197210368186182Revenue

540592315164151277139138Total expenses

21420710540651025250EBITDA

22120810138631075849Normalized EBITDA

143134672344673235FFO

113112572334552431Profit excludingamortization

9188431627451926Profit for the period

EBITDA 2016

133Profit before tax

43Depreciation and amortization

31Financing expenses, net

207EBITDA

FFO 2016

88Profit for the period

43Depreciation and amortization

(3)Revaluation of debentures

6Other

134FFO1. Core activities: mutual funds, provident funds, study funds and pension funds, ETNs and portfolio management

1

Growth Engines

Credit Insurance Digital

Strategic Partners • Digital Pension Funds• Digital Study Funds• Double Check• Wake:App

8

M&A in 2016

PeninsulaInsurance agenciesA-BrokerAYALON

1

ELOAN

1. On January 1, 2017, NIS 7.5 billion Ayalon Provident Funds and Pension Funds assets were merged.

Share Acquisition Deal- Meitav Dash Investments Ltd. (“The Company”)• On 30.11.16, the Company signed a merger agreement with the XIO Fund (“The Fund”), in which the Fund will acquire the entire issued and paid-up share capital of the Company,

in way of a reverse triangular merger (“The Acquisition Deal”). Within the deal’s framework, the Company’s shares shall be acquired from the Company’s shareholders, in exchange for payment through one of the following alternatives, at the shareholders’ choosing: (a) “The cash alternative”- a cash payment of 22 NIS per share; or (b) “The other alternative”- a combined payment, totaling 27.4 NIS per share, out of which, 13.7 NIS shall be paid in cash, and the shareholder shall receive one non-tradable debenture, to be issued by a fully owned subsidiary of the Fund, with a principal amount of 13.7 NIS per share. The debenture component of the other alternative shall be paid in three payments within one year, two years and three years, from the closing date of the Acquisition Deal, and shall have an annual interest rate of 2%, that shall be paid in one payment, within three years of the closing date of the Acquisition Deal. Notwithstanding the abovementioned, in certain circumstances, some of the debenture’s principal payments may be postponed to a period within five years of the closing date of the Acquisition Deal.

• According to the Acquisition Deal’s terms, the payment of the cash alternative and the cash component of the other alternative, may be adjusted prior to the closing date of the Acquisition Deal, due to a deviation of the Company’s net financial debt goal for the closing date, as was determined in the Acquisition Deal. Furthermore, an amount no larger than 20% of the last principal payment of the debenture component of the other alternative may be setoff from said payment, due to payments that may arise from court procedures that have been mentioned in the Acquisition Deal agreement and as a result of losses that may derive from some of the Company’s hedging transactions .

• The Acquisition Deal’s closing and completion is subject to a number of pending warranties, including the approval of the Acquisition Deal by the Company’s general shareholders assembly and the acceptance of regulatory confirmations required for the undertaking of the Acquisition Deal, including controlling permits of the Company. It should be clarified, that as of this day, there is no guarantee that all required regulatory approvals shall be received, or that all pending warranties shall be executed, for the closing and completion of the Acquisition Deal. Therefore, there is no certainty that the Acquisition Deal shall be completed.

• For further details regarding the Acquisition Deal and the Acquisition Deal’s terms and conditions, please see the Company’s immediate report from 1.12.16, reference number: 2016-01-135283 (http://maya.tase.co.il).

• The XIO Fund is a global private investment fund, situated in London, that manages an approximate capital of 5 billion USD, designated for global investments. The Fund operated in Britain, USA, Germany, Switzerland, Israel, Hong-Kong and China, and it’s managers are veterans of the global investments industry.

• To the best of the Company’s knowledge, the Fund is working to obtain all required authorizations for the completion of the Acquisition Deal.

Acquisition by XIO

Segments Analysis

Provident Funds, Study Funds & Pension Funds

AUMProvident FundsNIS 18.5 billionStudy FundsNIS 20.5 billionPension FundsNIS 2.5 billion

41.5 9 6%NIS Billion Market share

• On January 1, 2017, NIS 7.5 billion of Ayalon Provident Funds and Pension Funds assets were merged and we are currently the largest pension fund among the investment houses, with assets of more than NIS 6 billion and annual deposits of NIS 1 billion

• Election as managers of the default pension fund

2016Q4-2016Q3-2016Q2-2016Q1-20162015NIS million

41,45241,45241,33340,92740,58740,980AUM

28069707071303Revenue

0.68%0.67%0.68%0.68%0.70%0.74%Annualized Management Fees

44413131475Operating Profit

As at 31.12.16

ETNs

28 1AUM in NIS Billion

29 3%Market share

• Largest ETN company in Israel in terms of AUM

• Wide range of products, professionalism and high trading capabilities

As at 31.12.16

2016Q4-2016Q3-2016Q2-2016Q1-20162015NIS million

28,13628,13628,59128,95129,41730,672AUM

12428353130107Revenue

0.42%0.39%0.49%0.43%0.40%0.32%Annualized Management Fees

591019151545Operating Profit

Mutual Funds & Portfolio Management

27 5NIS Billion

12 8%Market share

18 6NIS Billion

AUM Mutual FundsTraditional FundsNIS 19.8 billionMoney Market FundsNIS 5.1 billionTracking FundsNIS 2.6 billion

2016Q4-2016

Q3-2016

Q2-2016

Q1-2016

2015NIS million

27,48527,48527,65027,46827,22428,100AUM Mutual Funds

18,61818,61818,72118,78419,03919,357AUM Portfolio Management

21152545352225Revenue

0.89%0.87%0.89%0.90%0.89%0.93%Annualized management fees from traditional funds*

0.17%0.16%0.17%0.17%0.17%0.16%Annualized management fees from money market funds

0.34%0.33%0.34%0.34%0.34%0.38%Annualized management fees from portfolio management

751919191889Operating profit

*Excluding tracking funds

As at 31.12.16

Portfolio Management

Financial Statements

Balance Sheet (In NIS millions)

As atDecember

31,2015

As atDecember

31,2016

487449Cash and short-term investments

31,26928,608Current investments to cover ETNs

65576Other current assets

31,82129,633Total current assets

202128Long term investments

1,0171,109Fixed assets and intangible assets

1822Deferred taxes

33,05830,892Total assets

As atDecember 31,

2015

As atDecember 31,

2016

80507Credit from banks and others

30,64428,104ETNs, liabilities and deposit

606484Current liabilities of special purposesubsidiaries to coverETNs, liabilities anddeposit

7141Liabilities for short sale of securities

139165Trade and other payables

31,54029,301Total current liabilities

112117Loans from banks

560495Debentures

182212Other long term liabilities

655699Equity

968Non-controlling interests

33,05830,892Total liabilities and equity

Debt to EBITDA

ExcludedPeninsula

DebtexcludedPeninsula

Debt toEBITDA

Debt

1.73433.4711Net*

3.47135.41,119Gross

*Including liabilities for short sale of securities.

Profit and Loss (in NIS millions)

2015Q4-2015

2016H22016

Q4-2016

Q3-2016

H12016

Q2-2016

Q1-2016

736182749381184197368186182Revenues from management fees, commissions, ETN and other

--26261313---Revenues from Peninsula

736182775407197210368186182Total Revenues

540136592315164151277139138General and administrative expenses, marketing sales, andfinancing expenses from Peninsula.

19646183923359914744Operating income

-(1)(1)(2)(2)-11-Profit (loss) from securities held for investmentpurposes in nostro portfolio, net

(26)(3)(31)(17)(7)(10)(14)(12)(2)Financing expenses, net

(20)(5)(24)(12)(6)(6)(12)(7)(5)Other expenses, net

31622-422Company's share in earnings in equity accounted investees

15338113632043703139Profit before taxes on income

62154520416251213Taxes on income

912388431627451926Profit for the period

This presentation was prepared by Meitav Dash Investments Ltd (hereinafter: the “Company” or “Meitav Dash”) and isintended for institutional investors only. This presentation does not comprise an opinion, suggestion, recommendation, oradvice / marketing for purchase and / or holding and /or sale of securities and / or financial assets (including securities of theCompany and / or financial assets issued by Companies in the Meitav Dash Group). The presentation is not a substitute foradvice / investment marketing or counseling / pension marketing that takes into consideration the special needs of eachperson.

This presentation is intended only for delivery and presentation of information provided and its presentation does not replacethe need to review reports published by the Company to the public. That shown is the opinion of the authors alone andreflects their understanding at the date of the presentation. The data, information, and analysis set forth, including the viewsexpressed, in this presentation, may change without notice.

Certain matters discussed in this presentation, including projections, objectives, assumptions, estimates and other informationrelating to future events and / or future matters whose occurrence is uncertain and is not controlled by the Company,including, but not limited to, information regarding the signing of the share acquisition deal, as described in slide 9 of thispresentation, and information in connection with a forecast of revenues and profitability, are all forward-looking statements asdefined in the Securities Law, 1968, that is based on the subjective assessments of the Company’s management based on dataand information held by the Company at the date of preparation of the presentation. Realization or non-realization of forward-looking statements will be affected by, among other things, risk factors characterizing the activity of the Company and,developments in the general environment and external factors affecting the activity of the Company, which cannot beestimated in advance and are not under the control of the Company. The Company’s operating results may differ materiallyfrom estimated or implicit results stated in the presentation.

Thank you

www.meitavdash.co.ilChampionTower,30DerekhSheshetHayamin,BneiBrak

Phone:972-3-7903000 Fax:972-3-7778001