Elron Ventures : DIC –non-binding memorandum of understanding for the sale of its holdings in Elron – an Update

English Translation of Immediate Release Filed by ElronVentures Ltd (the "Elron") with

the Israeli Securities Authority on July 9, 2024

RE: DIC -non-binding memorandum of understanding for the sale of its holdings in

Elron - an Update

Further to Elron's immediate releases of May 5, 2024 and June 17, 2024, Elron hereby updates that on July 9, 2024, Discount Investment Corporation Ltd. ("DIC") published an immediate release updating on the non-binding memorandum of understanding for the sale of its holdings in Elron, in its framework DIC published that, further to its previous releases regarding the non-binding memorandum of understanding, for the sale of all of its holdings (approximately 59.14%) in Elron and regarding the extension of the exclusivity period agreed upon by it and the potential purchaser, upon the lapse of the aforementioned exclusivity period yesterday, DIC indicated that the parties have reached an advanced draft agreement, however during the last couple of days the potential purchaser approached DIC requesting a few weeks delay in the purchase price due date.

In its report, DIC indicated that due to the uncertainty that has arisen in this matter, the parties have not signed a binding agreement, and DIC decided not to extend the exclusivity period.