August 2016

Elbit Imaging LtdCompany Presentation

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Legal Information

The Information that appears in this presentation is subject to the general comments below

• This presentation does not constitute an offer and/or an invitation and/or a recommendation to purchase and/or issue securities of Elbit Imaging Ltd.(hereinafter: “Elbit” or “The Company”) and/or its subsidiaries.

• This presentation includes selective and partial information only that the Company has seen fit to share with the addressees of this presentation. It ispossible that the way of presenting the information included in this presentation differs from the way it is included in the aforementioned publications.This presentation includes a summary of the issues described within it and the context in which they are discussed, and not the entire information in theCompany’s possession with regard to these issues. This presentation does not include all the Company’s results and financial information, its notes and/orbusiness plans or a description of all of its operations, and it is not intended to substitute for and/or replace the requirement to review the publicationsthat the Company has released to the public by law, including the Company’s 20-F annual report for the year ended on 31.12.2015 and the Company’scomplete reports that are included therein (hereinafter: “The 20-F Report”, and together with the Company’s other reports as published to the public,“The Reports” or the “Company’s Reports”) and the consolidated financial statements of the company as at 31.12.15 as published on 31 March 2016. Inany instance of a contradiction between the data in this presentation and the data in the Company’s Reports and/or in the financial reports that areattached to them, the data in the Company’s Reports shall prevail.

• This presentation includes forward-looking estimations, evaluations and declarations of information (hereinafter: “Forecasting Data”). Thisaforementioned Forecasting Data, including the actual execution of planned activity that is dependent on third or external parties, the realization of theCompany’s assumptions, plans, designs, estimates, evaluations, schedules, results, pricing, market conditions and similar are based on estimates andexpectations according to its best understanding based on the data at its disposal at the time that this presentation was prepared. There is no certaintywith regard to the realization of the estimates and/or the assessments and/or the expectations and/or the working assumptions and/or the veracity of theForecasting Data for any time in the future, and these as well as the actual factors involved and/or results achieved – could change and/or be affected byexternal factors that Elbit cannot foresee and/or control.

• Information other than Forecasting Data, is updated as of the date of this presentation. The Company does not undertake to update the informationincluded in this presentation, whether it is a Forecasting Data or otherwise, following its publication.

• The Company has no regulatory obligation to publish this presentation and/or any of the data and information included herein to the public, in the mannerthey are presented or at all, and it does not undertake to continue to publish presentations and/or information in the manner and with the scope of thispresentation and/or to retain the current format of the presentation of this information in the future.

• Elbit owns all proprietary rights to the information included in this presentation. This presentation may not be copied, reproduced, distributed, publishedor used in any other way, in whole or in part, without prior written permission from Elbit.

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Contents

1. Business Profile

2. Steps taken by the Company in the years 2015-2016

3. Description of the Business Activities by Segments:

A. Radisson hotel Complex, Bucharest

B. Elbit Medical Technologies LTD (“Elbit Medical”)

C. Development and Management of Commercial Centers: Plaza Centers NV (“Plaza Centers”)

D. Land Plots in India

4. Loans and Notes of the Company on a Stand-alone basis

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Company and Business Profile

Elbit Imaging Ltd was established in 1996. The Company’s stocks are traded on the NASDAQ and the Tel Aviv Stock Exchange. The

Company’s Notes are traded on the Tel Aviv Stock Exchange.

The Company’s Business segments are:

• Operation and management of Radisson hotel Complex in Bucharest, Romania.

• Through our subsidiary, Elbit Medical technologies Ltd (“Elbit Medical”) (90% and 86% fully diluted), we hold two

companies: InSightec (~26% fully diluted) and Gamida Cell (~23% fully diluted).

• Through our subsidiary ,Plaza Centers (~45%), – initiation, construction, operation, management and sale of real

estate projects mainly commercial centers in Europe.

• Land Plots in India (in partnership with Plaza Centers).

Structure of the Company’s holdings

• The Company has two main shareholders: York Capital and its affiliates (“York”) hold approximately 19.7% of the

Company’s share capital and Davidson-Kampner and its affiliates (“DK”) hold approximately 14.3% of the

Company’s share capital.

• Rest of the shares are held by the public.

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Company’s Business Segments

The Company's portfolio is based mainly on the real estate business, as well as operations in the medical segment

Hotels Land Plots in India Elbit Medical

Elbit Imaging Ltd

2 Land Plots:

Bangalore (**). Chennai (**).

Radisson Blu, Bucharest, Romania ( )98%~ , which includes763 rooms.

Shopping Centers development and management in Central and Eastern Europe.

4 active commercial centers of 122 thousand square meters GLA.

3 projects designated for development in Eastern Europe.

9 Land Plots in Eastern Europe.

2 portfolio companies:

InSightec (26%): (*) Engaged in the fields of oncology, gynecology and neurology. Develops a non-invasive intensity focused ultrasound device that thermally ablates tumors inside the body.

Gamida-Cell (23%): (*)Engaged in the development

of stem cells therapeutics, sourced by blood from the umbilical cord.

Development of Commercial

Centers

Real estate

Non-real estate

(*) Fully diluted

)**( The Company and Plaza share together in equal share

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Main Steps Taken by the Company in the years 2015-2016

o Signing a refinancing agreement for the Raddison hotel complex in Romania, for a total amount of € 97 million

in two stages, and withdrawal of the first stage totaling € 85 million.

o Acquisition of minority shareholders’ holdings in Bucuresti (which holds the Radisson hotel complex in Romania),

turning it into a private company in which the Company holds about 98.5%.

o Opening the Park Inn hotel in September 2015, after completion of an extensive renovation project in the

Radisson Hotel complex in Romania.

o A termination of the lease agreement with respect to the plot in Tiberius, Israel and receiving cash and bank

guarantees of NIS 20 million.

o Sale of the Company’s entire rights in its hotels in Antwerp Belgium, at a value of approximately € 48 million.

o Investment round in Series D Preferred Shares of InSightec (during 2014-2016) in the amount of $ 86.5 million by

York and other investors at a pre-money valuation of $ 200 million (a price adjustment of 8% had been made and

the holders of Series D preferred shares were allocated with additional shares).

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Main Steps Taken by the Company in the years 2015-2016 (cont.)

o Signing of cooperation agreement by InSightec with Siemens to develop compatibility between InSightec’s

systems and Siemens’ MRI scanners.

o FDA approval for InSightec’s Exablate Neuro systems for treatment of essential tremor.

o Final results for 21 patients treated in Gamida’s NiCord® under Phase I/II for treatrment in malignant blood

diseases.

o Signing Letter of Intends (LOI) by Plaza for the sale of its two commercial centers in Poland for € 121 million

(subject to adjustment).

o Sale of the Liberec commercial center by Plaza, at a value of € 9.5 million.

o Signing of an agreement by Plaza for the sale of the commercial center in Riga, Latvia's at the value of € 93.4

million (Plaza share 50%).

o Signing of an agreement by Plaza for the sale of a plot in Belgrade ,Serbia at the value of € 15.9 million.

o Commencement of the development and construction of the Sportstar project in Belgrade by Plaza and signing a

financing agreement for this project in the total amount of € 42.5 million.

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Main Steps Taken by the Company in the years 2015-2016 (cont.)

o Signing of an agreement for the sale of the Company’s (50%) and Plaza’s (50%) plot in Bangalore, India, at a value

of 321 Crore Rupee ( approximately € 43 million).

o Signing of a Joint Development Agreement( JDA) with local Indian developer for the development of the plot in

Chennai, India.

o Launching three buy-back plans for the Company’s purchase of notes in the amount of NIS 130 million, from

which the Company has purchased a total of NIS 126 million par value series H bonds, for a total cash

consideration of NIS 115 million.

o Signing on a addendum to a credit agreement with Bank HaPoalim, in the framework of which the loan’s due

date was extended, subject to the Company carrying out certain payments (see page 35).

o Continuing of the decrease in the Company’s General and Administrative expenses.

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Description of Business Activities by Segments

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Radisson Hotel Complex , Bucharest

General

The Company control (98.5%) in a Romanian company which is the owner of hospitality & commercial complex located in the heart of Bucharest.

The Complex includes:

• The five stars Radisson Blu hotel (424 Rooms and 63 Elite apartments).

• The four stars Park Inn hotel (210 Rooms)

• Apartment hotel (66 Rooms)

• Commercial area of approximately 7,200 square meters

• Both hotels are managed by Rezidor under management agreement till 2036).

Radisson Blu Hotel, Bucharest

• The hotel was opened in September 2008 and is located in the center of Bucharest and since then constituted a

significant part of the exclusive hotels market in Bucharest.

• 424 Rooms and 63 Elite apartments.

• The hotel includes a prestigious F&B Outlets.

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Radisson Hotel Complex , Bucharest (cont.)

Park Inn Hotel

• The Company completed renovation for four stars hotel in Bucharest and opened it to the public in

September 2015.

• The cost of the renovation was approximately € 6 million, which were financed from the hotel’s internal

sources.

• The Park Inn hotel consist of 210 rooms /apartments.

Apartment Hotel

• 66 apartments for long term lease.

• Most apartments occupied by parliament's members.

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Commercial areas

The Complex includes approximately 7,200 square meters of commercial areas. These areas include:

World Class Fitness Center of 2,600 square meters including a fitness center, an indoor swimming pool,Jacuzzi and spa.

Platinum Casino of 2,200 square meters, which includes the main casino, a private casino, a restaurantand a VIP restaurant.

A commercial area of 2,400 square meters which includes fashion , jewelry, gifts, antiques and beautyshops.

Radisson Hotel Complex , Bucharest (cont.)

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Radisson Hotel Complex , Bucharest (cont.)

Summary:

Number of rooms (including apartments) 763

Commercial area (in square meters) 7,200

NOI (million of €) 2015 12.4

Value (million of €) (*) 159.8

Debt (million of €) 83

(*) According to external valuation received for the financial statement as of 30.6.2016.

Refinancing of Radisson Blue Hotel

• On March 10, 2016, Bucuresti signed a loan agreement for re-financing the Raddison Hotel complex in Romania.

• According to the agreement, Bucurestu will receive financing for the property for up to € 97 million, which will be

withdrawn in two stages: Stage A totaling € 85 million, and an additional € 12 million in Stage B. Each withdrawal is

subject to preconditions as set out in the agreement.

• On March 24, 2016, the Company completed the withdrawal of Stage A of the loan agreement (€ 85 million).

• The total loan outstanding prior to the completion of the refinancing agreement was approximately € 60 million.

• The net cash received by the Company from the withdrawal of Trench A (after re-financing of the existing loan and

transaction expenses) totaled to € 24.4 million.

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Elbit Medical – Business Profile

Elbit Medical Technologies is a holding company in the biomedical field that holds InSightec and Gamida Cell.

• Elbit Medical is controlled by the Company (90% and 86% fully diluted) and

is traded on the Tel Aviv Stock Exchange.

• InSightec is developing an MR-guided Focused Ultrasound treatment platform to

address a variety of growing neurosurgery, oncology and gynecology indications in

a safe, noninvasive and personalized treatments.

• Gamida Cell is developing therapeutic products based on cells derived from the

umbilical cord blood.

Business description

31%(26% fully diluted)

Structure of holdings

ElbitMedical

25% (23% fully diluted )

ONCOLOGYNEUROSURG

ERY

WOMAN’S

HEALTH

THE GLOBALLEADER OFMRgFUS

INSIGHTEC develops the world’s foremostMR-guided Focused Ultrasound treatmentplatform for a variety of neurosurgery,oncology and gynecology indications.Treatments are totally non-invasive,safe and effective, and are performed in anambulatory setting.

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COMPANY PROFILE

• Developed Exablate® - the first FDA approved therapeutic device using MR-guided Focused Ultrasound

• INSIGHTEC is a privately held Israeli company founded in 1999

• 172 employees worldwide

• First to develop technology to successfully steer and focus ultrasound through the cranium

Headquartered in Haifa, Israel. Regional offices in US, China, Japan and Europe.

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www.insightec.co

m

INSIGHTEC’S TECHNOLOGY

Non-invasive therapy platform thatcombines two proven technologies -High intensity focused ultrasoundand Magnetic Resonance Imaging.

The high intensity focusedultrasound (FUS) generates heat atthe focal point to ablate the targettissue.

The MRI enables:

1. Identification and targeting

2. Monitoring the treatmentprogress in real time, usingthermometry information

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3

PRODUCT

FAMILIES

ONCOLOGY

NEUROSURG

ERY

WOMAN’S

HEALTH

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INSIGHTEC

PRODUCT

ROADMAP –

NEUROSURGE

RY

• Small volume treatments• Deep central structures

treatment envelop• Normal tissues (at MR)• Thermal ablation

• Larger volume treatments• Whole brain treatment envelop• Pathologic tissues (at MR)• Thermal ablation & Targeted

Drug Delivery

2010 2012 2015

2016+

Neuropathic

Pain

Essential

Tremor

Parkinson's

Disease

Brain

Tumors

Epilepsy Targeted Drug

Delivery

Alzheimer

Neuro-

Modulation

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ONCOLOGYNEUROSURG

ERY

Treatment for Essential Tremor, Tremor dominant Parkinson’s Disease, Neuropathic Pain

• Single session• Non-invasive procedure• No ionizing radiation • No penetrating trajectories

with probes• No implantable hardware• No anesthesia• No infectious risks

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• Outpatient, low risk profile

• Real time closed loop personalized therapy

• Tumors’ conformal treatment

• Pathologic tissues (based on MR)

• Larger volume treatments

• Faster treatment rate

• Treatment of moving organs

• Non-heating properties of US

2004 2012 2013

2016+

Gynecology Bone Tumors Facets Prostate Liver Pancreas Targeted Drug

Delivery

2015

INSIGHTEC PRODUCT

ROADMAP –WOMEN’S HEALTH

& ONCOLOGY

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REGULATOR

Y STATUS

NEUROSURGER

Y

ONCOLOGYWOMEN'S

HEALTH

• Essential tremor

• Essential Tremor &

tremor dominant

Parkinson’s Disease

• Neuropathic pain

• Pain palliation of

bone metastasis

• Primary bone

tumors

• Bone metastasis

• Uterine fibroids (Family

Complete, now removed)

• Uterine fibroids &

Adenomyosis (Future

fertility)

• Commercially approved in

Japan, Australia, China,

Korea and Russia

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Transactions In Insightec’s shares

• Financing Round

• In the second half of 2014, InSightec signed an investment agreement with York and other investors for an investment of$62.5 million in series D preferred shares of InSightec.

• The investment in series D preferred shares was executed based on $200 million pre-money valuation (subject toadjustments). On March 1, 2016, an adjustment of 8% had been made to the price of InSightec shares, and the owners ofSeries D preferred shares were allotted additional shares.

• After the completion of the investment round, a new chairman was appointed for InSightec, Dr. Morris Pherre, that has anexpertise and experiences in InSightec’s business .

• In January 2016 Dr. Morris Pherre was also appointed as the CEO of InSightec.

• At the end of 2015, InSightec completed an additional round of investment in InSightec preferred D shares, of $22 million,from existing and new investors. In July 2016 additional $2 million was invested in InSightec.

• As of today the shareholders have invested approximately $286 million in InSightec.

25.6%

7.0%

24.1%

4.1%

4.0%

35.2%

ELBIT Group

GE group

York Fund

GEOC

MTA group

Others

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Transactions In Insightech’s shares

Sale of Insightec’s shares by existing shareholders

• In March 2015 York and other investors purchased from GE 6 million Series C Preferred Shares of InSightec

(approx. 4.2% of InSightec's on a fully diluted basis), at a price of $1.50 per share, and an option to purchase 12

million additional Series C Preferred Shares, (approx. 8.5% of InSightec's on a fully diluted basis), for the same

price ($1.50).

• In December 2015, York and other investors purchased from GE 20 million InSightec shares (consist of preferred

C shares and preferred B shares) which constitute 13% of the InSightec’s share capital (fully diluted basis) at the

price of $1.25 per share. In addition, within the framework of the agreement the purchaser were granted an

option to purchase an additional 7.5 million shares (consist of preferred B and preferred B-1 shares) from GE,

which constitute 4.8% of InSightec’s share capital (fully diluted basis) at the same price, part of which within a

year and the others within two years from completion date of the transaction, subject to the conditions set out

in the agreement.

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Gamida Cell

• Developing bio-technological products based on stem-cells from umbilical blood for treating hematological diseases

• A number of unique technologies were developed by Gamida Cell for breeding stem cells

• The main product NiCord® is expected to commence Phase III trials during 2016

• Novartis has invested $40 million in Gamida with the possibility of investing up to an additional $10 million in future financing

round( subject to certain conditions)

• 41 employees with an experienced management

• Gamida Cell has up until now raised $95 million

Company Profile

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Main Product NiCord®

• NiCord is based on umbilical blood that is enriched with stem cells using the NAM technology

• Phase I/II clinical trials of this product on patients with malignant hematological diseases, by infusing two units of umbilical blood, haveconcluded in the framework of IND.

• Phase I/II clinical trials of this product on patients with malignant hematological diseases, by infusing one unit of umbilical blood,recruitment of patients continues.

• Start of Phase III trials is expected in 2016. A principle agreement has been reached with the regulatory agencies in the USA andEurope, concerning the outline of the trials.

• Phase I/II clinical trials on patients with sickle-cell anemia, recruitment of patients continues

• Gamida Cell holds full rights to this product

NiCord® - treatment of hematological and severe auto-immune diseases

Last Financing Round and Option to acquire Gamida Cell

• On September 2, 2014 Gamida Cell and the majority of Gamida Cell’s shareholders (including Elbit Medical), completed executionof an Option and Investment Agreements (the "Agreements") with Novartis Pharma AG (“Novartis”). Under the Agreements,Novartis invested $35 M in Gamida Cell in exchange for approximately 15% of Gamida Cell’s share capital (fully diluted basis)and anoption to purchase from the other Gamida Cell shareholders (including Elbit Medical) all their holdings in the Gamida Cell (the"Option").

• In June, 2015, Novartis notified that despite the fact that Gamida Cell had successfully met all of the agreed milestones, Novartisdoes not intend to exercise the Option. Nonetheless, it was further stated that Novartis was interested in continued collaborationwith Gamida Cell in the development of its products, and would soon explore suitable alternatives with Gamida Cell.

• On November 5, 2015 Novartis invested in Gamida Cell an amount of $5 in return for approximately 2.5% in Gamida Cell( on a fullydiluted basis). In addition, in the event that by the end of 2017 Gamida Cell shall raise the minimum remaining funding required tocover the Phase III study of NiCord, by way of an equity investment, Novartis will invest in Gamida Cell ,subject to certain conditionsset in the Agreement, an additional amount of up to $10 M

23%

16%

14%5%

18%

10%

14%

Ownership structure (fully diluted)

Elbit Medical

CBI

IHCV

Teva

Novartis

ESOP

Others

27

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Plaza Centers: Development, Management and Sale of Commercial Assets

• Plaza Centers is engage in the initiation, construction, operation, management and sale of real estate projects, mainly in the field of

commercial real estate in Central and Eastern Europe.

• The Company’s holdings in Plaza is about 44.9% and DK holds about 26.3% of the share capital of Plaza.

• Plaza Centers has been engaged in the field of real estate development in developing markets for more than 20 years.

• Plaza Centers has 4 active commercial centers, as well as pipeline land plots in Eastern Europe, which are designated for

development.

• Plaza Centers’ shares are traded on the main market of the London Stock Exchange (LSE) , the Warsaw Stock Exchange (WSE) and

the Tel Aviv Stock Exchange.(TASE)

• Regarding Plaza Centers’ holdings in the group’s lands plots in India together with the Company, see page 33-34.

Description of Activities

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Plaza Centers – Assets Designated for Development

Country Name Location Type GLA (m2)Plaza Center's holding

Additional InformationFair value ((€ million) (*)

RomaniaCasa Radio,

Bucharest

Center of

Bucharest

Commercial,

offices, hotel

467,000

(GBA incl.

parking)

75%

The plan includes :

Commercial center 90,000 GLA , central underground parking andpublic building.

office buildings.

Hotel and convention center.

108.6 (**)

RomaniaTimisoara,

PlazaTimisoara Commercial 40,000 100%

The plan includes a commercial center.

Location: Central city in Romania, with a population of more than 300 thousand citizens.

9.4

Serbia

Belgrade,

Visnjicka

Plaza

Belgrade Commercial 32,000 100%

The plan includes the establishment of a commercial center project.

Location: center of Belgrade, the capital and the central city of Serbia

Plaza has commenced the constriction work in the site.

Plaza has signed a financing agreement for the development of the Project in the total amount of € 42.5 million. As of June 30,2016 no withdrawal of loan has been executed.

29.6

Total 147.6

Plaza Centers has designated 3 projects for the development of commercial centers, hotels and offices.

The total value of the assets is approximately €147.6 million . Against these assets Plaza Centers has no specific bank loans.

(*) According to external valuation received for the financial statement as of 31.12.15.

(**) Fair value according to 100% due to the significant shareholders' loans.

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Plaza Centers –Land Plots Designated for Realization

• Plaza centers has a pipeline of 9 land plots in Eastern and center Europe that are designated for realization at a total value of € 26.5 million.

• Against the land assets in Romania there is a bank loan in the amount of about € 8.2 million.

Country Number of land assets Fair value (€million) (*)

Poland 4 13.6 (****)

Hungary (**) 1 3.4

Romania 2 4.5

Bulgaria 1 1

Greece (***) 1 4

Total 9 26.5

(*) According to external valuation received for the financial statement as of 31.12.15, and of the Plaza’s internal valuation for 2 lands in Poland.

(**) Not includes an office building at fair value of €2.6 million.

(***) In April 2016 Plaza signed a preliminary agreement for the sale of the plot at a value of €4.7 million.

(****) Plaza signed an agreement for the sale of a plot in Lodz designated for residencial.

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Plaza Centers – Key Figures from the Financial Statements as of 30.6.16

• Total assets: approximately €388 million.

• Total cash on hand: approximately €25 million (out of which €5 million are restricted cash).

• Total liabilities to banks : approximately €100.9 million. (*)

• Total liabilities to notes holders in Israel: approximately €185 million (Par value).

• Total liabilities to notes holders in Poland: approximately €12 million (Par value).

• Shareholders equity : approximately €77 million .

(*) Including loans that has been given to affiliated companies in the total amount of € 28 million. (Plaza share 50%).

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Land Plots in India

Structure of the holdings (schematic)

Elbit Imaging LTD.

Elbit Plaza India80% Chennai Project50% Bangalore Project

50% 50%

Plaza Centers N.V.

Elbit Plaza India (EPI) is a joint venture established by the Company and Plaza Centers with the purpose of initiating and establishing real

estate projects in India.

BangaloreLocation East Bangalore

Holding Percentage 50%

Our share in the value (*) €29

• Bangalore is one of the cities with the highest growth rate inIndia – about 47% growth in a decade – and a metropolitan witha population of more than 9 million residents.

• Bangalore constitutes a center for international companies,including the technology segment.

(*) The share of the Company and Plaza together. According to external valuation received for the financial statement as of 31.12.15.

Bangalore DealIn December 2015, EPI signed an agreement for the sale of 100% of its holdings in the company which holds a site in Bangalore, to a localinvestor.Total proceed is 321 Crores Rupees (approximately €43 million) which will be paid upon completion of the transaction. The direct portionof the Company is 50% (approximately €21.5 million).The transaction is subject to certain preconditions, and will come into force after these have been met – and not later than September30, 2016.The investor has provided certain securities in order to guarantee the completion of the transaction at the above mentioned date.

34

Land Plots in India (cont.)

ChennaiLocation South Chennai

Holding Percentage (**) 80%

Our share in the value (*) 21€

• Chennai is the fourth largest city and metropolitan in India,with a population of more than 10 M residents.

• Location: in proximity to one of the largest technologicalparks in India (Sipcot).

(*) The share of the Company and Plaza together. According to external valuation received for the financial statement as of 31.12.15

(**) EPI holds the title documents in respect of the 20% in the SPV, however at this stage such shares were not registered on the name of EPI. The Company is actively acting for the registration of the shares. .

Joint Development Agreement for the development of the plot in Chennai:

• On august 1, 2016 the Company announce that an SPV under its control signed a Joint Development Agreement( JDA) withlocal Indian developer for the purpose of the development of the Company's plots in Chennai, India.

• The main commercial terms of the JDA are as follow:

The developer will bear all the costs involved in the development of the Project including the obtaining of permits andmarketing.

The JDA include certain mile stones, time table and minimum sale prices. The commencement of development is subject to obtaining all the approval required for the development of the

project. 67% of the project surface will be used to sale of developed plots and the rest for the constriction of villas. The SPV will be entitled to receive 73% of the proceeds from the sale of the developed plots and 40% from the sale of

villas The SPV received a refundable deposit of 10 Crore Rupees (approximately € 1.3 million) and is entitled to receive

additional 25.5 Crore Rupees (approximately €3.2 million) subject to the fulfilment of certain conditions.

35

4. Loans and Notes of the Company on Stand-alone basis

36

Financing at the Company on stand alone basis

The company has 2 Series bonds traded on the Tel Aviv Stock Exchange

Series H Bond

• Principal (30/6/16) – NIS 331 M(*)

• Interest: 6% paid semi annually

• Principal: to be paid in a single payment on 31/5/2018

• Bond balance (Pari) (30/6/16) – NIS 331 M(*)

(*) following purchase of bonds by the Company up to the balance

sheet date in the amount of NIS 115 million

Collaterals

• First floating charge on all the assets of the Company

• First ranking fixed pledge on the shares and shareholders loansof Elbit Ultrasound (Lux) B.V./S.àr.l (which hold Plaza Centers),as well as on the shares and shareholders loans of ElscintHoldings and Investment N.V (which holds indirectly theRadisson complex in Romania).

• Negative pledge by the Company, Elbit Ultrasound (Lux)B.V./S.àr.l and Elscint Holdings and Investment N.V.

Series I Bond

• Principal (30/6/2016) – NIS 218 M

• Interest: 6% accumulated and paid with the principal at

the end of the period

• Principal: to be paid in a single payment on 30/11/2019

• Bond balance (Pari) (30/6/2016) – NIS 252M

Collaterals

• Second floating charge on all the assets of the Company

• Second ranking fixed pledge on the shares and shareholdersloans of Elbit Ultrasound (Lux) B.V./S.àr.l (which hold PlazaCenters), as well as on the shares and shareholders loans ofElscint Holdings and Investment N.V (which holds indirectly theRadisson complex in Romania).

• Negative pledge by the Company, Elbit Ultrasound (Lux)B.V./S.àr.l and Elscint Holdings and Investment N.V.

37

Financing at the Company on stand alone basis (cont.)

Repurchasing Program of the Company’s notes

The Company launched three programs for buy-backs of notes during 2015-2016, for a total amount of NIS 130 million.

Up to the date of this presentation the Company completed purchases of series H notes as follow:

In accordance with the agreement with Bank Hapoalim, the Company prepaid to Bank HaPoalim a total amount of NIS 10.7

million as a result of the note buy back.

The balance of series H notes (Pari) as of the date of this presentation is approximately NIS 320 million.

In NIS M

TotalPlan “C” Plan “B” Plan “A”

130404050Total amount of the plan

12626.543.556Notes Purchased (at PAR value)

115254050Cash invested for purchasing

151500Balance for purchasing

38

Financing at the Company on stand alone basis– (cont.)

Loan from Bank HaPoalim

Liens and Financial Covenant

• First charge on the shares capital and shareholders loans of the holding

company that holds (indirectly) the Radisson Blu hotel in Romania

• Lien on about 86 M shares of Plaza Centers (about 13% of the share

capital of Plaza centers after completion of the Plaza’s debt restructuring)

• The company is required to maintain a loan to value (LTV) ratio of 85%

• The funds from the refinancing of the Radisson Hotel in Bucharest in the amount of up to €97 M may serve the needs of the Company andnot for early repayment of the existing loan.

• In the event of sale / change in the control of the Radisson Hotel in Bucharest, the bank will be entitled to the repayment of the amount ofapproximately €29 M . In a partial sale without loss of control, the bank shall be entitled to the relative payment. The balance of theproceed from the sales of the hotel shall serve the needs of the Company.

Cash balance at the Company as of 30/6/2016

Bank HaPoalim

• Principal and accumulate interest as of 30/6/2016 - € 22 M

• LIBOR interest + 3.45 %, paid in quarterly payments

• Accumulated interest until the end of the period at the rate of 1.2%

• Principal – €7 M will be paid on 31/11/16, and the balance on

30/11/17.

NIS 47 MFree cash

NIS 3 MRestricted cash

NIS 50M

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