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4 League Tables

5 A Word from Israel Desks: Overview We are pleased to bring you the 5th Israel Desks League Tables, showcasing international law firms that are major destinations for Israeli clients, and are a hub of valuable experience in Israel-related deals. Today, there are an estimated 160 law firms with an Israel Desk, a striking 20% increase from the number of firms back in 2019. In 2022, Israel's economy grew 6.5%, slower than 2021's 8.6% expansion, but still much stronger than most Western countries, according to the Central Bureau of Statistics. With tech innovation continuing to scale new heights, the interest in deals and collaborations has far from waned, and the data bears that out in the Israel Desks League Tables. With ranked law firms ranging from global powerhouses to smaller boutiques to new entrants, we have over 50 partners who shine across 11 practice areas and sectors, a testament to the amount of work carried out by international law firms involved in Israel-related matters. As a regular fixture in the rankings, we continue to have both Value and Volume tables for M&A and Capital Markets to reflect those law firms that handle a large volume of general corporate and capital markets work, as well as those who are involved in high-value transactions and offerings. Law firms are ranked in order of volume or value but our “Elite” ranking spotlights those who particularly stood out with the largest number of matters and those with the highest value matters in what remains a competitive and vibrant market. We reviewed the firms’ submissions, collected feedback and votes from the most prominent lawyers in Israel, and looked at factors including visits to Israel, local representatives, and relationships with domestic firms. This allowed us to identify those Leading, Prominent, Recognized, and Notable practitioners abroad, who take a proactive, instrumental, and hands-on role with respect to Israel. Furthermore, with such a huge raft of lawyers involved, those lawyers referenced in the editorial are recommended in Israel Desks rankings. Congratulations to all!

6 M&A Volume Elite 1 DLA Piper 26 2 Freshfields Bruckhaus Deringer 16 3 Greenberg Traurig 15 4 White & Case 14 5 Bryan Cave Leighton Paisner 8 5 Latham & Watkins 8 6 Gowling WLG 6 6 Goodwin 6 7 Allen & Overy 5 8 Bird and Bird 4 8 Cleary Gottlieb 4 8 Taylor Wessing 4 9 Davis Polk 3 9 CMS 3 9 Squire Patton Boggs 3 10 Clifford Chance 2 10 Dechert 2 11 Herrick 1 11 Carter Ledyard & Milburn 1 11 Ashurst 1 11 Herrick 1 Position Law Firm Volume

7 M&A Value 1 Latham & Watkins 8 13,200 2 Freshfields Bruckhaus Deringer 16 10,307 3 Davis Polk 3 9,901 4 DLA Piper 26 8,992 5 White & Case 14 3,069 6 Greenberg Traurig 15 2,413 7 Cleary Gottlieb 4 1,925 8 Bryan Cave Leighton Paisner 8 840 9 Clifford Chance 2 500 10 Allen & Overy 5 480 Position Law Firm Value ($M) Volume TAX 1 DLA Piper 26 2 Herrick 16 3 Bryan Cave Leighton Paisner 3 4 Fox Rothschild 2 5 Bird and Bird 1 5 Taylor Wessing 1 Position Law Firm Volume Elite

8 Real Estate 1 Greenberg Traurig 42 2 Asserson 36 3 DLA Piper 19 4 Herrick 15 5 Taylor Wessing 12 6 Chapman and Cutler 9 7 CMS 8 8 Bryan Cave Leighton Paisner 7 9 Zeichner Ellman & Krause 4 10 Bird and Bird 2 11 Allen & Overy 1 11 Carter Ledyard & Milburn 1 11 Dechert 1 11 Howard Kennedy 1 Position Law Firm Volume Elite

9 IP Elite 1 DLA Piper 35 2 CMS 24 3 Greenberg Traurig 17 4 Bird and Bird 16 5 Freshfields Bruckhaus Deringer 12 6 Taylor Wessing 11 7 Pillsbury 6 8 Cleary Gottlieb 4 9 Bryan Cave Leighton Paisner 2 9 Goodwin 2 9 Gowling WLG 2 Position Law Firm Volume

10 Litigation 1 Asserson 61 2 Freshfields Bruckhaus Deringer 32 3 Greenberg Traurig 18 4 DLA Piper 15 4 Taylor Wessing 15 5 CMS 12 5 DAC Beachcroft 12 6 Bryan Cave Leighton Paisner 11 6 Zeichner Ellman & Krause 11 7 Fox Rothschild 8 8 Kobre & Kim 5 9 Allen & Overy 4 9 Cleary Gottlieb 4 10 Carter Ledyard & Milburn 3 11 Pillsbury 2 Position Law Firm Volume Elite

11 Elite Patents 1 Mathys & Squire LLP 29 2 Fox Rothschild 10 3 Pillsbury 9 4 CMS 8 4 DLA Piper 8 5 Greenberg Traurig 7 6 Bird and Bird 6 7 Goodwin 4 8 Bryan Cave Leighton Paisner 3 8 Allen & Overy 3 9 Taylor Wessing 2 10 Gowling WLG 1 Position Law Firm Volume

12 Elite Energy & Infrastructure 1 Freshfields Bruckhaus Deringer 17 2 DLA Piper 9 3 CMS 7 4 Allen & Overy 4 4 Howard Kennedy 4 5 Pillsbury 3 6 Fox Rothschild 2 7 Ashurst 1 7 Clifford Chance 1 7 Dechert 1 7 Taylor Wessing 1 Position Law Firm Volume

13 Capital Markets Volume 1 Sullivan & Worcester LLP 26 2 White & Case 12 3 Freshfields Bruckhaus Deringer 10 4 Davis Polk 8 5 Carter Ledyard & Milburn 5 6 Bryan Cave Leighton Paisner 4 6 Chapman and Cutler 4 6 DLA Piper 4 6 Greenberg Traurig 4 7 Allen & Overy 3 7 Cleary Gottlieb 3 7 Gowling WLG 3 7 Taylor Wessing 3 8 Latham & Watkins 2 8 Skadden 2 9 Clifford Chance 1 9 Dechert 1 Position Law Firm Volume Elite

14 1 White & Case 12 4,728 2 Latham & Watkins 2 2,862 3 Davis Polk 8 2,287 4 Allen & Overy 3 2,500 5 Clifford Chance 1 2,500 6 Sullivan & Worcester LLP 26 1,831 7 Cleary Gottlieb 3 1,620 8 Bryan Cave Leighton Paisner 4 1,422 9 Chapman and Cutler 4 1,396 10 Skadden 2 1,113 11 Freshfields Bruckhaus Deringer 10 1,097 12 Cleary Gottlieb 3 500 13 DLA 4 485 14 Taylor Wessing 3 474 15 Carter Ledyard & Milburn 5 195 Law Firm Value ($M) Capital Markets Value Elite Position Volume Law Firm

15 Labor 1 Greenberg Traurig 126 2 DLA Piper 124 3 Asserson 49 4 Squire Patton Boggs 23 5 Bryan Cave Leighton Paisner 16 5 CMS 16 6 Bird and Bird 15 7 Fox Rothschild 11 8 Taylor Wessing 4 9 Allen & Overy 2 9 Goodwin 2 Position Law Firm Volume Elite

16 Banking & Finance 1 Freshfields Bruckhaus Deringer 10 2 DLA Piper 9 3 Zeichner Ellman & Krause 8 4 Allen & Overy 7 5 Greenberg Traurig 6 6 Clifford Chance 5 7 Bryan Cave Leighton Paisner 4 7 Taylor Wessing 5 8 Herrick 3 9 Bird and Bird 2 9 Dechert 2 10 Ashurst 1 10 Fox Rothschild 1 Position Law Firm Volume Elite

17 Hi-Tech 1 DLA Piper 187 2 Greenberg Traurig 176 3 Bird and Bird 54 4 Lowenstein & Sandler 51 5 Sullivan & Worcester LLP 43 6 Goodwin 37 7 Taylor Wessing 34 8 Squire Patton Boggs 22 9 Bryan Cave Leighton Paisner 20 10 CMS 18 11 Fox Rothschild 17 12 Freshfields Bruckhaus Deringer 10 13 Pillsbury 8 13 Zeichner Ellman & Krause 8 14 Allen & Overy 7 15 Ashurst 3 Position Law Firm Volume Elite

18 Individual Rankings

19 Prominent Colin Diamond White & Case Louis Glass CMS Nathan Krapivensky Taylor Wessing Lee Noyek Allen & Overy Mark Selinger Greenberg Traurig Ben Strauss McDermott Will Emery Daniel Turgel White & Case Yossi Vebman Skadden Name Leading Michael Kaplan Davis Polk Joshua Kiernan Latham & Watkins Jeremy Lustman DLA Jonathan Morris Bryan Cave Leighton Paisner Joey Shabot Greenberg Traurig Adir Waldman Freshfields Bruckhaus Deringer Name Law Firm Law Firm

20 Recognized Guy Ben-Ami Carter Ledyard & Milburn Ari Berman Pillsbury Gary Emmanuel Greenberg Traurig Meira Ferziger Greenberg Traurig Josef Fuss Taylor Wessing Etay Katz Ashurst David Metzger Clifford Chance Tali Sealman White & Case Name Law Firm Trevor Asserson Asserson Baruch Baigel Asserson Yariv Ben Ari Herrick Tom Beaudoin Goodwin Clarissa Coleman DAC Beachcroft Notable Name Law Firm

21 Notable Adam Fleisher Cleary Gottlieb Michael Friedman Chapman and Cutler Steven Glusband Carter Ledyard & Milburn Oded Har-Even Sullivan & Worcester LLP Kenneth Henderson Bryan Cave Leighton Paisner Lee Hochbaum Davis Polk Daniel Ilan Cleary Gottlieb Odia Kagan Fox Rothschild Mayan Katz Goodwin Stuart Kurlander Latham & Watkins Miriam Lampert Squire Patton Boggs Adam Levin Dechert Daniel Rubel Zeichner Ellman & Krause Michael Sabin Clifford Chance Jason Saltzman Gowling WLG Chaim Seligman Freshfields Bruckhaus Deringer Richard Scharlat Fox Rothschild Bill Schnoor Goodwin Adam Snukal Greenberg Traurig Lawrence Sternthal Greenberg Traurig Michael Sweet Fox Rothschild Louis Tuchman Herrick Name Law Firm

22 Editorial

23 Active in the Israeli market for more than 25 years, Allen & Overy (“A&O”) has one of the most formidable Israeli practices, acting for Israeli and international clients on strategic-level, cross-border transactions, projects and initiatives across many sectors. These include the energy and infrastructure, financial institutions, private equity, technology, real estate and life sciences fields. Highly ranked in Banking, Capital Markets, and Energy, the Israel Group thrives under the leadership of senior corporate lawyer, Lee Noyek who brings significant experience of corporate finance, strategic M&A, divestments, joint ventures, public takeovers, refinancings and IPOs. This past year, the team advised on striking M&A transactions, acting for Israel’s NeoGames S.A on its public offer to acquire Aspire Global for approximately USD 480 million, and Seattle-based Remitly on its acquisition of Israeli fintech company and payment institution Rewire. Among notable capital markets transactions, the Group also advised Delek Group on the admission of its Ithaca Energy Limited to the London Stock Exchange’s Main Market. A pillar of the firm’s Israeli offering is its deep knowledge of the energy and infrastructure sector, with Ed Moser taking a prominent role. Luxembourg partner Jacques Graas and London-based Will Samengo-Turner, co-head of the EMEA Technology practice, also enjoyed an active 2022 with regards to Israel transactions. With a strong understanding of the Israeli market, Ashurst’s Israel Group has worked on transactions involving Israeli clients looking outward, as well as non-Israeli clients transacting in Israel. Heading the Israel Desk is Etay Katz, senior partner in the Financial Regulation practice and Cochair of the firm's Bank sector. With more than 15 years’ experience, Katz has represented the State of Israel in significant European capital market issuances and financial transactions, and the Bank of Israel on transactions and regulatory matters. The Group also comprises Jake Green, co-head of the firm’s Finance Regulatory group and primary adviser for leading Israeli global fintechs, eToro and Plus500, as well as corporate partner Jonathan Cohen, who brings a particular focus in the Tech M&A space. UK-headquartered law firm Asserson continues to enjoy a strong presence in the Israeli market, with its largest office in Tel Aviv and a team comprising approximately 60 UK, U.S. and Israel qualified lawyers. Under the leadership Allen & Overy Ashurst Asserson

24 of the well-known shining light, Trevor Asserson, the team provides UK legal services to Israeli clients, taking the coveted top spot in Litigation, and flying high in the Real Estate and Employment rankings. The team earns widespread recognition for its involvement in commercial, real estate and constructionrelated litigation. David Prais leads the 10-strong, Israel-based Real Estate team which advises on acquisitions and disposals. Hadie Cohen acts for Israeli companies on a raft of employment issues including settlement agreements, the impact of TUPE, collective redundancies and handling terminations. Clients also instruct on issues relating to the gig economy, the healthcare and care home sector. Jointly heading the Dispute Resolution practice is the highly active Baruch Baigel, whose track record includes several high profile and high value claims in the UK High Court, three of which have been listed by the Lawyer among the top 20 UK cases for the year, each of those cases for Israeli citizens, or people based in Israel. Elliot Lister has also enjoyed a busy year on real estate related litigation. Visit: : Israel Page Bird & Bird’s instrumental figures in the Israel Group are Adam Meisels and Frederique Dupuis-Toubol, operating out of London and Paris, respectively, with a team of lawyers across its 31-office network. Prominent in the hightech and IP space, the firm’s experience cuts across many industry sectors and practice areas, such as venture capital, life sciences, technology and communications, retail and consumer, automotive, cybersecurity, financial services, fintech, energy, climate-tech and renewable energy. The firm advised Israel-headquartered Guesty on multiple acquisitions in the Netherlands, Spain, Poland and Australia. With almost 40 years’ experience in the Israeli market, Bryan Cave Leighton Paisner (“BCLP”) has one of the longest and most extensive practices, offering a raft of services to 200 plus Israeli financial institutions and corporates, including established public and private companies and start-ups in technology, infrastructure, real estate, manufacturing, finance, pharmaceuticals, energy and venture capital. Bryan Cave Leighton Paisner Bird & Bird

25 BCLP’s noticeable rankings over the past year are in Real Estate – where the team acts for Israeli financial institution, Menora Mivtachim group, on its investment in London-based real estate investment and development firm, Brockton Everlast - as well as in high-tech and employment involving Israeli clients. London-based Jonathan Morris and Tel Aviv-based Paul Miller serve as CoChairs of the firm's Israel Desk, alongside Ken Henderson in the New York office. Among a number of flagship transactions, the firm acted for Tel Aviv based SPAC, Gesher I Acquisition Corp, in its headline acquisition of Freightos, a leading global freight booking and payment platform – with the merger listing Freightos publicly on Nasdaq. Partners Jonathan Nesher and Amy Wilson advised, from the Washington DC and Atlanta offices respectively. With particular experience in the technology, food and agribusiness, healthcare , real estate and other sectors, Morris, a partner in the firm’s M&A and Corporate Finance team, advised Rafael Advanced Defense Systems Ltd. on the September 2022 acquisition of Pearson Engineering Ltd. (PER). Built on the foundation of 160 years of legal service, one of New York’s oldest law firms, Carter Ledyard Milburn (“CLM”) has been representing Israel-based companies for over 20 years in corporate, securities, M&A, as well as litigation, intellectual property, employment, real estate and more. The Israel practice group earned high rankings in Capital Markets, among others, and includes key figures Steven Glusband, who also co-chairs the firm’s Corporate department and chairs the Securities practice group, and Israel-born Guy Ben-Ami, a leader of the firm’s Israeli Cross-Border practice and licensed to practice in both the U.S. and Israel. Both lawyers regularly act for Israeli parties in the M&A and capital markets space, recently advising on private placements and tender offers. The firm advised RADA Electronic Industries Ltd. in the all-stock merger between Leonardo DRS and RADA, advising on multiple securities matters. Visit: Israel Page Chapman builds on last year’s debut in the Israel Desks rankings with another stellar showing. Recognized for its role as a platform for Israeli financial institutions and investors making investments in the U.S., the compact Israel Practice is led by partner Michael Friedman, who advises Israeli financial institutions, investment funds, trustees and law firms seeking US-based counsel in finance and restructuring matters. Carter Ledyard & Milburn Chapman Cutler

26 If you are an International Law Firm with an Israel focus, IsraelDesks is your first destination Inform Israeli law firms about your events, clients updates and firm news Join IsraelDesks group on LinkedIn to expand your network IsraelDesks.com LEGAL MARKETING SETTING THE BENCHMARK by WWW.LEGALMARKETING.CO.IL NISHLIS@LEGALMARKETING.CO.IL TEL: + 972-72-338-7595 FOLLOW US:

27 For example, Chapman served as counsel to indenture trustee, Reznik Paz Nevo Trusts Ltd., in a USD 500 million international senior unsecured note financing issued by Bank Leumi—the first offering of international senior unsecured notes by an Israeli bank. The team also advised Israel-based Mishmeret Trust Company, Ltd. on bonds issued by GFI Real Estate Ltd., as well as the restructuring of bonds issued by All Year Holdings Ltd. Active in the real estate space, the team has advised Israeli parties on construction loans in 2022, among other things. Visit: Israel Page Headquartered in New York, international firm Cleary Gottlieb (“Cleary”) is acknowledged for its solid track record in M&A, Capital Markets and Litigation over the past, year, notably advising International Flavors & Fragrances’ USD 1.3 billion sale of its Microbial Control business unit to Lanxess AG, while in litigation, the team represented Frutarom Industries Ltd. (Frutarom) in successfully obtaining the affirmance of the dismissal of a putative securities fraud class action before the U.S. Court of Appeals for the Second Circuit. The firm’s Israel Group comprises the prominent capital markets lawyers, such as Adam Fleisher, who has represented numerous Israeli clients in the industrial, defense and tech sectors, as well as David Gottlieb, who acts for a roster that has included Bank Hapoalim, Bank Leumi and Israel Chemicals. Israeli clients also benefit from Daniel Ilan, whose IP focus saw him advise on those elements of the minority investment by CapitalG in a USD 400 million Series E fundraising for Fireblocks Ltd., an Israeli private company operating in the blockchain field. A hugely active participant in the Israeli market for many years, Clifford Chance successfully harnesses its global reach to help Israeli clients reach international markets, and international clients access Israel. David Metzger, Michael Sabin, and Sam Clinton-Davis are big-hitters in an Israel group, which has performed well in capital markets in the Israel Desks rankings, and works across many practice areas to offer clients immediate access to one of the widest international professional networks around. Co-head of Clifford Chance's US Funds & Investment Management Group, Hebrew-speaking Michael Sabin has an active Israel practice, advising IsraelClifford Chance Cleary Gottlieb

28 based sponsors and investors on their fundraising and global investment activities. David Metzger, global head of Clifford Chance's Construction Group, has been advising bidders and lenders on light rail projects in recent years. With strong relationships with the world's banks and financial institutions, the team is renowned for M&A, banking and finance work, energy and infrastructure. CMS is one of the few major European-focused law firms with senior equity partners on the ground in Israel, and has been instrumental for Israeli clients looking to invest or grow abroad, as well as those businesses and investors looking to enhance their business in Israel. Having served Israeli clients and international businesses with operations or investments in the country for over 25 years, CMS formalized its Israeli offering by opening a Tel Aviv office in 2021. Within the Israel group, Louis Glass is a key figure, alongside the recommended Andrew Besser, members of a 70-strong team, which enjoys an Elite position in the Energy and IP categories of the Israel Desks rankings. CMS is actively involved in employment, commercial, IP and real estate work, as well as shareholder litigation advice for flagship clients. There was also a recognized forte in the regulatory advice given to gaming clients and legal advice given to Israeli energy companies. Highlights include the advice given to Equinor Ventures in its investment in Israeli carbon removal startup, RepAir. Clients also benefit from the firm’s fluent Hebrew speakers and key relationships with Israeli banks and corporates, prominent start-ups, and key lawyers and accountants for more than two decades. Israel is an important region for DAC Beachcroft, with the Israel Group advising clients across practice areas and sectors from AIM listings to major arbitrations to advising London Market insurers on claims in Israel. The firm is particularly prominent in class action, litigation, product liability and contract disputes. The compact team features the experience of Londonbased trio Clarissa Coleman, Chris Wilkes and Duncan Strachan, especially active throughout 2022. CMS DAC Beachcroft

29 Davis Polk Davis Polk soars high in the M&A: Value table in this year’s Israel Desks rankings, especially active in some of the country’s milestone M&A transactions and public offerings in 2022. With a team of Hebrew speakers and graduates from Israeli law schools, the 37-strong group has shone in M&A and Capital Markets in the 12 months, with New York and Washington DC offices supporting the firm’s co-head of the Israel Practice, Michael Kaplan on the USD 1.13 billion Nasdaq listing of Israeli company, Nayax in September 2022. Kaplan and the team also advised Ormat Technologies on its USD 375 million convertible senior notes offering, and a USD 338 million follow-on public offering. In 2022, the team also advised NewMed Energy, a key partner in every major gas discovery made in the last 30 years in Israel’s offshore waters, on its USD 9.1 billion combination with Capricorn Energy plc, one of Europe’s leading independent upstream energy companies with headquarters in Scotland. Co-Heads of Davis Polk’s Israel Practice are Lee Hochbaum, whose clients have included Israeli companies, such as ECI Telecom, Taboola, Attunity, NICE Systems, ADAMA and Mediamind, and Benjamin S. Kaminetzky, who acts for Israeli banks in civil and regulatory matters. Visit: Israel Page This Philadelphia-born firm Dechert has been involved in Israel-related matters for more than 40 years and offers a 24-strong team led by Adam Levin, who also co-heads Dechert’s Corporate group in London. In an extensive roster of international corporates, private equity groups and high net worth individuals, he advises on corporate structuring, governance, private equity and transactional matters. Fellow London partner, Douglas L. Getter brings experience in U.S. and cross-border M&A transactions in a diverse practice, and has, over the last 12 months, advised a leading sports company in the acquisition of an Israeli AI sports tech company. Visit: Israel Page The global knowhow and resources of DLA ensure that it is regularly involved at the top end of the Israeli market. From the U.S. to Latin America, Europe to Asia, the firm’s Israel country group counts more than 100 lawyers and almost twice as many as Israeli clients. Dechert DLA Piper

30 With pole position in the M&A: Volume table, Tax, High-Tech and IP, the Group also flies high in Banking, Real Estate, Energy, Employment, among others. The Israel Group is led by Jeremy Lustman, who tapped into his wealth of experience in 2022 to advise Claroty on the USD 300 million acquisition of Medigate, a leading Israeli healthcare IoT security company, one of the largest local acquisitions in the Israeli cyber sector, and acted for ironSource, an Israel based global software company, on corporate and employment advice in connection with the USD 400 million acquisition of Tapjoy, a mobile advertising and app monetization platform. The Israel Group also features London-based Jon Kenworthy, Co-Chair of M&A Group, and New York corporate partner Jon Venick, who together advised Innovid on the USD 160 million acquisition of TV Squared Ltd., a measurement and attribution platform. Highly prominent in real estate, the team advised clients, such as El Al and Monday.com on a range of real estate issues, including acquisitions and leases. Visit: Israel Page A bridge between Israel and the U.S., Fox Rothschild 's 31-strong nationwide Israel practice group is a key destination for Israeli clients launching or expanding into U.S. markets. The group’s work is driven by Michael Sweet, Odia Kagan and Sarah Biser in the San Francisco, Philadelphia and New York offices respectively, with technology and innovation at the heart of the firm’s extensive client roster. The firm performs well in litigation and employment, with Sweet, together with experienced Labor & Employment partner, Richard Scharlat defending management from U.S.-based companies and international companies with U.S. employees in employment and class action litigation. There is also recognition for its transactional and regulatory expertise, especially with regards to compliance work. Philadelphia-based partner Odia Kagan, the Chair of GDPR Compliance & International Privacy group, acts for Israeli clients from the agriculture, healthcare and software sectors, among others. The Group has also supported many Israeli parties in filing patents and trademarks in the past year. Visit: Israel Page Fox Rothschild

31 As one of the most impressive names in the Israeli market, Freshfields’ Israel Group emerges once again as an Elite firm in M&A, Banking and Energy. In a 20-strong team, with 3 principals, Adir Waldman is a key figure on the ground in Israel, leading a multijurisdictional team of Freshfields lawyers dedicated to advising Israeli clients and businesses with interests in Israel. In 2022, Waldman advised on the investment by a private equity client into Vivion, the European real estate platform founded by the Dayan family. A core member of the Israel Group is Tel Aviv-based Chaim Seligman – who leads Tel Aviv office’s tech initiative, and, together with Waldman, he provides legal advice on Basel Relief for sales guarantees to Bank Hapoalim and Bank Leumi. During 2022, the team enjoyed an impressive record in the energy sector, advising ZIM on a liquified natural gas (LNG) take-or-pay agreement with Shell, as well as Siccar Point Energy and its sponsors, Blackstone and Bluewater, on the sale of the company to Ithaca Energy, a subsidiary of the Israeli firm NewMed Energy specializing in North Sea energy investments. In IP, the team has been acting for Israel’s SodaStream on a series of actions to enforce the company’s patents and designs against competitors selling knockoffs and falsely labeled products and to defend the company from false advertising claims brought by sellers of other beverages in certain key European jurisdictions, including Germany. The Israel Group also performs extremely well in the Litigation and Arbitration table, with a successful track record in some of the highestcaliber dispute resolution matters in the Israeli market. Among a raft of matters, the team has been advising Israeli businessman Aaron Frenkel on a EUR 500 million claim against the City of Dubrovnik and the Republic of Croatia arising out of property development rights. Attorneys in Goodwin’s Israel Practice have significant experience working with Israeli businesses as well as internationally-based investors in Israeli companies. One of the landmark transactions was advising Singapore Telecommunications Ltd on its USD 239 million sale of AdTech firm Amobee to dual-listed and Israel-headquartered Tremor, with partner Katherine J Baudistel (Santa Monica) advising. The Israel Group also enjoys a successful track record in relation to startups and features prominently in the High-Tech table. In the past year, Freshfields Bruckhaus Deringer Goodwin

32 the firm’s Israel Group advised Israeli private company The Tomorrow Companies Inc., the developer of the leading platform for global weather and climate security, on the purchase of Remote Sensing Solutions, developers of radar technology, with Technology partner Bill Schnoor (Boston and London) advising. Life Sciences partner Mayan Katz (New York) led on the Series B investment by BASF Venture Capital and Orbia Ventures in Israeli biotech company, FortePhest, which is developing a technology to combat herbicide-resistant weeds. Boston partner, Thomas Beaudoin is also noted for his VC and private equity experience, with VC clients in Israel. Multinational law firm Gowling WLG’s Israel desk is co-led by Londonbased Susannah Fink and Toronto-based Jason Saltzman, who enjoys a diverse M&A and capital markets practice. Gowlings was formed from the merger of Canada-based Gowlings and UK-based Wragge Lawrence Graham & Co in February 2016, in the first multinational law firm merger co-led by a Canadian firm. Saltzman recently advised Israel’s Real Brokerage Inc., an international, technology-powered real estate brokerage, on the acquisitions of LemonBrew Lending Corp and Redline Real Estate Group (BC) Inc. The team also represented Canada-based IM Cannabis Corp., a leading medical and adult-use recreational cannabis company founded in Tel Aviv in 2010, in three strategic acquisitions in Israel: 51% of the outstanding ordinary shares of Revoly Trading and Marketing Ltd., formerly Vironna, all the outstanding ordinary shares of R.A. Yarok Pharm Ltd., and Rosen High Way. With a multidisciplinary office in Tel Aviv, Greenberg Traurig’s 100-plus Israel Practice is one of the larger hubs for Israel-related work. With first place in Real Estate and Employment, the group also earns lofty rankings in M&A, Capital Markets, and patent filing for Israeli companies, as well as in the high-tech and real estate sectors. The Israel Practice thrives under the leadership of Managing Shareholder, Joey Shabot, who is frequently involved in a raft of M&A transactions involving Israeli parties. In 2022, he advised New York based industrial Gowling WLG Greenberg Traurig

33 machinery manufacturing company, ITT Inc. on its USD 140 million acquisition of Israeli valve manufacturer, Habonim Valves and Actuators Ltd., as well as acted for Volvo Group Venture Capital in its follow-up investment into Israeli automotive company NextGear. The Israel Group is packed with instrumental figures, such as Tel Aviv-based Lawrence Sternthal, who leads the International Real Estate department in Israel, as well as employment shareholder, Meira Ferziger, who advised on the employment issues facing Israeli fintech company, Melio, with its U.S.- based offices in New York City and Denver. Adam Snukal features in the rankings, with a wealth of high-tech experience across many industries, including fintech, cybersecurity, Ad-Tech, IT/cloud infrastructure, and more. The Israel Group was boosted by new arrivals from McDermott Will & Emery in the last year – among them, corporate and securities partner Gary Emmanuel, who brings clients more than 20 years’ experience, especially in relation to capital raisings and IPOs; David Huberman, who works closely with Israeli and domestic clients in capital raising transactions; and Mark Selinger, who represents public and private U.S., Israeli and other international technology and life sciences companies in public offering and M&A transactions. Visit: Israel Page New York-based law firm, Herrick offers a robust Israel practice group, a key component of the firm’s broader global experience. Connected with major Israeli law and accounting firms, the 15-lawyer group is recognized by Israel Desks rankings for a depth and diversity of experience, especially in the real estate sector. Co-chairing the firm's Israel and Real Estate Hospitality practice groups, Real Estate partner Yariv Ben-Ari acts for real estate lenders, trustees, servicers, owners, operators, developers and contractors on a variety of sophisticated matters. He is backed by a team including seasoned veteran of New York City’s commercial real estate market, Belinda Schwartz, Chair of the Real Estate practice – and now Executive Chair of the firm - as well as Louis Tuchman, partner and Chair of the firm’s Tax department. The team acted for Bank Hapoalim in the USD 52 million sale of a mortgage loan secured by real property and development rights near the High Line in Manhattan, as well as a senior co-lender in a USD 165 Herrick Feinstein

34 million acquisition and construction loan to Moinian Group to build a mixed-use residential and hotel property, also in Manhattan. The firm also advised NYSE-listed Datto Holding Corp., a leading global provider of cloud-based software and technology solutions for managed service providers (MSPs), in the purchase of Israeli cyber company, BitDam Ltd. Visit: Israel Page Howard Kennedy is recognized for its strong track record of advising Israeli clients, especially, recently, in relation to the energy sector. London-based and Hebrew-speaking Charles Maxwell heads the team and is supported by a network of strong connections. The firm’s Israeli clients are made up of high-net-worth individuals and families, entrepreneurs and corporates, and last year’s workload includes a string of high-profile real estate matters, especially for a flagship Israeli investor and property developer client. With Jonathan Cohen leading on both matters, the firm is also representing Ashdod-headquartered Nofar Energy, which is developing the UK's largest planned battery energy storage project, with construction costs estimated at more than GBP 214 million, as well as Atlantic Green UK Ltd. (a JV between Nofar Energy and Interland) on their second grid-scale battery storage project located in Derbyshire, UK. Focused exclusively on disputes and investigations, Kobre & Kim enjoys a commanding reputation for representing Israeli clients in cross-border disputes involving Israel, the U.S., Europe, Asia and other jurisdictions. The firm is involved in a wide array of litigation for Israeli parties, including representing. Beny Steinmetz, a veteran Israel-based businessman with ventures across the globe. The team provided global strategic advice to Steinmetz in matters concerning his global dispute with Vale, a Brazil-based global corporation engaged in metals and mining, over a collapsed joint venture in Guinea.Jeremy Bressman features prominently in a compact, tight-knit team, and has represented Middle East-based corporate clients and individuals facing criminal allegations and enforcement proceedings, as well as in parallel civil litigation. Focused on IP litigation, San Francisco lawyer Michael Ng has represented Orckit Corp. in a Texas lawsuit involving the infringement of its patents, and also acted for Israeli ophthalmology company, Optical Imaging Ltd. in the enforcement of its global patent portfolio. Visit: Israel Page Kobre & Kim Howard Kennedy

35 Latham & Watkins’ (“Latham”) Israel Practice leverages its global reach to provide strategic advice to Israeli clients on some of the highest profile and highest value transactions in the Israeli market, and takes top spot in M&A: Value, also enjoying a towering presence in the Israel Desks rankings in Capital Markets. Joshua Kiernan in the London office is an instrumental figure in a large team spanning many offices and that takes center stage in the biggest M&A and capital markets transactions. Kiernan was a member of the multi-office team from London, Silicon Valley, Chicago, New York and Tel Aviv which advised on the USD 4.4 billion merger between ironSource, an Israel-based software company that focuses on app monetization and distribution, and Unity Software. The deal was completed in late 2022. He also advised on the approximately USD 1.3 billion business combination between HUB Cyber Security, an Israel-based developer of cybersecurity solutions and services, and Mount Rainier Acquisition Corp., a special purpose acquisition company. This New Jersey-based national law firm with more than 300 lawyers makes its entry into the Israel Desks rankings, recognized in high-tech sector for more than 50 Israeli clients in that field. The roster comprises businesses, venture funds, hedge fund and private equity fund managers in cross-border transactions involving Israel and the U.S. Almost 100 Israeli clients are served by the team, led by partners Dotan Barnea and Max Karpel, Co-Chairs of the Israel Practice. Working with companies at all stages and across a wide range of sectors, Barnea has been active in a range of corporate matters and investment rounds over the past 12 months. Having established its Israel team in 2011, Mathys and Squire, a hugely prominent European IP firm, enjoys a towering presence in the Patents and Trademarks category, grabbing first place in Filings/Prosecution. The team works directly with and advising well-known Israeli clients, individuals and attorneys on filing patents and designs during the past year. The ten-strong team is headed up by London partner and UK & European Patent Attorney and UK Design Attorney, Dani Kramer, who Latham & Watkins Lowenstein & Sandler Mathys & Squire

36 acts for clients ranging from start-ups to large corporations across a variety of technology sectors. He works closely with Munich partner Andreas Wietzke and Anna Gregson, a partner in London. The Israel team of this U.S. firm taps into its strengths across high-tech, life sciences, financial and energy industries. In addition to its activity in litigation, the firm has scored some notable successes in the M&A field in the past year, with a multi-office team advising Tremor International Ltd., a global advertising company headquartered in Israel, on its USD 239 million acquisition of Amobee. Headed by Ari Berman, also the co-chair of Pillsbury’s Securities Litigation & Enforcement practice, he focuses his practice on commercial litigation, with an emphasis on defending clients in shareholder disputes and investigations involving federal securities laws. He has acted for Teva Pharmaceuticals in high-stakes litigation matters (including M&A and insurance disputes) for over ten years. Deputy Head of the Israel Practice, Nathan Renov focuses on IP and patent portfolio development, among other things, and acts for U.S. and Israeli clients in many industries, including, among others, software, cryptocurrency and blockchain technologies, mobile communication, cybersecurity, acting for Israeli company Salt Security, Inc. in intellectual property matters over the past year. Visit: Israel Page As one of the leading global law firms with an Israel focus, Skadden’s Israel Group has, for many decades, been advising Israeli companies doing business and raising capital outside Israel and advises non-Israeli companies and individuals doing business in Israel. With a track record that has seen the firm act in many landmark M&A and capital markets transactions, the firm continues to be a force for issuers and underwriters in key IPOs for Israeli companies. On the issuer side, we represented Mobileye in one of the largest IPOs of 2022. We are currently representing the underwriters in an offering by Enlight renewable energy. Yossi Vebman leads an Israel Group, which includes David Goldschmidt and Max Mayer Cessiano. Skadden Pillsbury

37 The spotlight shines brightly on the almost 40-strong Israel Desk at Squire Patton Boggs, which is widely recognized by Israeli clients for its comprehensive advice in the employment field, with work involving a significant advice on share options/benefits and data privacy. With two decades’ experience in and understanding of the Israeli market, Miriam Lampert is recognized for UK employment advice to a raft of Israeli corporates on their UK operations, while Beijing-based Sungbo Shim continues to be one of only a small number of lawyers in China who has meaningful experience of advising Israeli companies doing business in the region. Recognized for its expertise in the high-tech sector, the team advises high profile Israeli corporates, particularly in the tech and financial services sectors. In the past year, the UK and German Corporate, Data Protection, Employment and Regulatory teams advised Israeli software company, Illusive Networks on its sale to U.S. tech company, Proofpoint. U.S. headquartered and international firm, Sullivan’s Israel expertise includes lawyers in the New York, Boston, Washington D.C and London offices. Taking the crown in the Capital Markets: Volume table, Sullivan acts as company counsel for publicly traded and pre-IPO companies, and represents and advises public companies and their directors, independent committees, and officers with respect to a wide range of capital markets and securities matters. With more than 18 years’ experience, New York partner Oded Har-Even leads the global capital markets practice and has advised on many issues on Wall Street of Israeli private and public companies. He spends a significant amount of time as Co-Managing Partner in Sullivan & Worcester Tel Aviv, alongside Reut Alfiah. Sullivan is recognized for its work as underwriter’s counsel in public offerings of Israeli and U.S., and other foreign companies traded on TASE, NYSE or the Nasdaq, advising on a substantial portion of the offerings by Israeli companies that listed on Nasdaq for the first time since 2013. In 2022, the team advised Maris-Tech on its USD 17.8 million IPO on Nasdaq and acted for Jeffs' Brands, from inception until its listing for trading on Nasdaq in September 2022, including the company's registration, spin off assets into the company and other agreements. Squire Patton Boggs Sullivan & Worcester

38 The Israel Desk of international law firm Taylor Wessing continues to make an impact with its focus on dynamic sectors, including high-tech, life sciences and healthcare, and flies high in real estate. While the firm is visible also in litigation, notably cryptocurrency disputes, there are also significant real estate and aviation financings involving Israeli parties. The Israel Desk has advised on key M&A and capital markets transactions, under the guidance and experience of London-based Josef Fuss, who co-leads the international Technology, Media & Communications sector group. He co-heads the Israel Desk with Israel-based Nathan Krapivensky. Visit: Israel Page One of the most preeminent firms with a commitment to Israel spanning several decades is White & Case, which is entrenched among the elite law firms in Israel related M&A and capital markets, both in volume and value. Through the depth of its expertise in the firm’s London and New York offices, the team is a go-to group for sophisticated and high-quality instructions and is one of the go-to law firms in Israel related M&A. The team excels under the leadership of New York-based Colin Diamond – one of the lead lawyers on U.S. IPOs by Israeli issuers - and London-based Daniel Turgel, committed to the Israeli market for more than a decade. Diamond advised Tufin Software Technologies on its USD 570 million acquisition by Turn/River Capital, as well as Tigo Energy, Inc. on its USD 600 million combination with a SPAC, under which Tigo Energy will become a publicly traded company. Meanwhile, Turgel’s diverse practice saw him act for SoftBank Vision Fund II as the lead investor in the Series E financing round of Claroty Ltd., an Israeli industrial cybersecurity company. He also acted in the largest IPO on the London Stock Exchange in 2022, when representing Goldman Sachs and Morgan Stanley as joint global coordinators, HSBC Bank, Jefferies and BofA Securities as joint bookrunners, and ING Bank as co-lead manager on the IPO of Ithaca Energy Limited and its premium listing on the London Stock Exchange. The offering raised a total of £262 million (exclusive of the over-allotment option), valuing the company at £2.5 billion. Owned by Israeli-listed Delek Group, Ithaca Energy is one of the largest independent oil and gas companies with production and development activities in the UK Continental Shelf, ranking second by resources and third by production. White & Case Taylor Wessing

39 Silicon Valley partner, Tali Sealman is also one of the most prolific partners, in relation to Israel related work. In 2022, she acted for Hello Heart, the Israeli digital therapeutics company, on its USD 70 million Series D funding round and also advised Israeli company, Siemplify, on its sale to Google. Visit: Israel Page Based in Manhattan, the 42-year-old Zeichner Ellman & Krause LLP ("ZEK") law firm has approximately 45 lawyers spread across its New York, New Jersey, Connecticut, Washington DC, as well as a foreign office in Tel Aviv. In fact, ZEK was the very first law firm to be certified as a foreign attorney’s office by the Israel Bar Association. Litigation partner, Daniel Rubel is often involved in cross-border litigation and fronts an Israel Group acting for Israeli clients on a wide variety of U.S. legal issues, including acting for a raft of Israeli companies on commercial agreements, as well as disputes with U.S. vendors. In the past year, he advised on a dispute between client and Israeli entity over the control of USD 17 million in assets designated for charitable purposes. Frequently in Israel is executive partner, Stuart Krause, who leads cross-border (US/Israel) litigation in New York, California, Delaware, and other U.S. locations relating to commercial disputes. He has been handling almost 30 USC § 1782 discovery proceedings arising out of Israeli litigation, representing both parties seeking such discovery and those defending against such requests. During 2022, the Israel Group was also active in banking and finance – on behalf of Israeli lenders and borrowers, as well as in real estate finance, with Fred Umane, Mark Schlussel and Ethan Schlussel involved. Zeichner Ellman & Krause LLP

40 2023

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Recent Market Trends FAQ Re: Incentive Based Compensation – Understanding the NewClawback Rules

43 February 08, 2023 In October 2022, the U.S. Securities and Exchange Commission (the “SEC”) adopted rules implementing “clawback” provisions pursuant to the DoddFrank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”). The rules directed national securities exchanges to establish listing standards that will require issuers to implement written clawback policies that satisfy related disclosure obligations. In January 2023, the SEC staff issued new Compliance and Disclosure Interpretations providing further guidance about the rules. This memo answers many clawback related questions that public companies, including foreign private issuers (“FPIs”), are facing. Guy Ben-Ami / Partner D 212-238-8658 benami@clm.com Steven J. Glusband / Partner D 212-238-8605 glusband@clm.com FAQ Re: Incentive Based Compensation – Understanding the New Clawback Rules

44 What is a clawback? A clawback is the recovery of erroneously awarded incentive-based compensation received by current or former executive officers of an issuer. What is “incentive-based compensation”? The clawback rules define “incentive-based compensation” as “any compensation that is granted, earned, or vested based wholly or in part upon the attainment of any financial reporting measure… any incentivebased compensation recovered under the final rules is compensation that an executive officer would not have been entitled to receive had the financial statements been accurately presented.” Incentive-based compensation includes compensation that is granted, earned or vested based wholly or in part upon the attainment of any financial reporting measures that are determined and presented in accordance with the accounting principles used in preparing the issuer’s financial statements and any measures derived wholly or in part from such measures, as well as non-GAAP measures, stock price and total shareholder return. Incentive-based compensation does not include: base salary; bonuses paid solely at a board or board committee’s discretion that are not paid from a “bonus pool” determined by the satisfaction of a financial reporting measure performance goal; bonuses paid upon achievement of subjective standards and/or completion of a specified employment period; nonequity incentive plan awards earned solely upon achievement of strategic or operational measures; and equity awards that are subject only to timebased vesting conditions and/or satisfying one or more subjective, strategic or operational measures that are not financial reporting measures. Do FPIs have to comply with the new rules? Yes. Issuers (including smaller reporting companies, emerging growth companies, FPIs, controlled companies, and issuers of debt and non- equity securities) whose securities are listed on a national securities exchange other than issuers of security futures products, standardized options, unit investment trust securities and certain registered investment company securities are subject to the new rules.

45 What should a clawback policy include? Issuers are required to adopt a clawback policy providing for recovery of incentive-based compensation erroneously received by current or former executive officers during the three completed fiscal years immediately preceding the year in which the issuer is required to prepare an accounting restatement due to material noncompliance with financial reporting requirements. Incentive-based compensation is considered to be received in the period during which the applicable reporting measure is attained, even if the payment or grant occurs after the end of that period. If an award is subject to both time-based and performance-based vesting conditions, it is considered received upon satisfaction of the performance-based conditions, even if the award continues to be subject to time-based vesting conditions. Erroneous payments must be recovered even if there was no misconduct or failure of oversight on the part an individual executive officer. The rules apply to both “Big R” and “little r” restatement filings: • A “Big R” restatement is when an issuer is required to prepare an accounting restatement that corrects an error in previously issued financial statements which is material to the previously issued financial statements. • A “little r” restatement corrects an error that would result in a material misstatement if the error was not corrected in the current period or was corrected in the current period and generally does not require a special disclosure filing. • What are the new disclosure requirements? • An issuer is required to file its clawback policy as an exhibit to its annual report on Form 10-K, Form 20-F or Form 40-F. An issuer is required to disclose in its annual report or proxy statement how it has applied its clawback policy including: • the date on which the issuer was required to prepare an accounting restatement and the aggregate dollar amount of erroneously awarded incentive-based compensation attributable to such accounting restatement;