* The chart includes the principal companies held directly by the Bank or indirectly through private subsidiaries under the full
ownership of the Bank. The wholly-owned subsidiaries through which the companies in the above chart are held do not appear
in the chart. For the purposes of this chart, a principal company is a company engaged in business operations which in the
opinion of the Board of Management of the Bank is a principal company in the Group, and in which the Bank’s investment is
at least 1% of the shareholders’ equity of the Bank, or the Bank’s share of whose net profit (loss) attributed to shareholders of
the Bank exceeds 5% of the net profit (or loss) attributed to shareholders of the Bank (similar to the criterion established in
Public Reporting Directive 662 of the Supervisor of Banks regarding the statement of data on principal subsidiaries in financial
statements of banking corporations).
(1) In September 2017, the Bank decided to act to discontinue the activity of Hapoalim Switzerland, through the sale of its assets
or by other means. As part of the realization of the decision to discontinue the activity of Hapoalim Switzerland, a transaction
was completed in the fourth quarter of 2018 for the sale of most of the global private banking customer asset portfolio of
Hapoalim Switzerland at its branches in Switzerland and Luxembourg to Bank J. Safra Sarasin AG and Banque Safra Sarasin
(2) The Bank is examining possibilities for the sale of its full holdings in Bank Pozitif, further to the strategic plan of the Bank, in
which a decision was made to gradually reduce the credit portfolio at Bank Pozitif.
(3) On March 10, 2019, Isracard published a sale offering prospectus for shares of Isracard. For details, see Note 15 to the Financial
(4) On March 3, 2019, the full holdings of the Bank in Poalim Express were transferred to Isracard. For details, see Note 15 to the