Fimi Israel opportunity 7, limited partnership and Fimi Opportunity 7, LP, managed by First Israel Mezzanine Investors Ltd. executed a purchase agreement to acquire a 12.09% stake in Payton Industries Ltd (TASE:PAYT) from David Yativ for NIS 50 million on February 14, 2024. In related transaction, Payton Industries executed a share purchase agreement with Fimi Israel opportunity 7 and Fimi Opportunity 7 for the issuance and sale of 1,468,057 ordinary shares approximately 17.76% of the issued share capital of Payton Industries for an aggregate purchase price of NIS 73,402,850 (at a price per share of NIS 50). Subject to the fulfillment of the conditions, at the time of closing of the above transactions, FIMI will hold a total of 2,468,057 shares of the Parent Company, which constitute approximately 29.85% of the Payton Industries' share capital and as a result, YATIV and FIMI will each hold together an identical amount of the Payton Industries' shares and will have control together by virtue of their joint holding of approximately 59.7% of the Payton Industries' share capital.

Payton Industries after receiving the approval of its audit committee and Board of Directors. The closing of the above transactions shall take place simultaneously within 12 business days after the date on which all precedent conditions to the closing shall have been fulfilled and subject to the approval of the Payton Industries' shareholders meeting.