On September 6, 2016, Mr. Arie Mientkavich's term as a director of Gazit Globe Ltd. expired and Mr. Mientkavich retired from the company's Board of Directors, effective immediately. Mr. Mientkavich served as Deputy Chairman of the Company from April 19, 2005, until September 6, 2016. Mr. Mientkavich will continue to provide consulting services from time to time to the Company on an independent basis.