PARTNER COMMUNICATIONS ANNOUNCES THE CLOSING OF THE TRANSACTION BETWEEN THE RECEIVER OVER 49,862,800 OF THE COMPANY'S SHARES HELD BY S.B. ISRAEL TELECOM LTD. AND AMPHISSA HOLDINGS

ROSH HA'AYIN, Israel, April 4, 2022 /PRNewswire/ -- Partner Communications Company Ltd. ("Partner" or "the Company") (NASDAQ: PTNR) (TASE: PTNR), a leading Israeli communications operator, reports that, further to the Company's reports dated November 25, 2021, December 16, 2021, March 29, 2022 and Item 3D.3a in the Company's Annual Report for 2021 (20-F), on April 4, 2022, a transaction to acquire 49,862,800 of the Company's shares (the "Sold Shares") by Amphissa Holdings Limited Partnership ("Amphissa") was completed. As part of the transaction, the Sold Shares that constitute approximately 27% of the Company's issued and outstanding share capital, that were owned by S.B. Telecom Ltd. and were held by Adv. Ehud Sol, the permanent receiver over them, were sold and transferred to Amphissa, for a consideration of USD 300 million (the "Transaction").

To the best of the knowledge of the Company, the general partner of Amphissa is Israel Lighterage and Supply Co. Ltd., which is 50% owned by Mr. Shlomo Rodav and 50% owned by Mr. Ronnie Gat and members of his family, and the limited partners are mostly institutional investors from the Phoenix, Clal and Menora groups as well as M. Arkin (1999) Ltd. The Minister of Communications' approval dated March 29, 2022 (the "Approval") allows Mr. Avi Gabbay to join Amphissa in the future as a limited partner and as a general partner, directly or through a company under his control.

In addition, following the completion of the Transaction, the holdings of the Phoenix group in Partner, directly and indirectly in calculating its holdings as one of the limited partners in Amphissa, exceed 10% of the means of control in Partner. The said scope of holdings of the Phoenix group in Partner, in parallel with its holdings in Cellcom Israel Ltd., which is a competing MRT operator, is in accordance with the Approval and with the amendment to the Company's MRT license dated March 28, 2022 (the "License Amendment").

The License Amendment stipulates that an interested party in the Company that is a mutual fund, insurance company, investment company or pension fund ("Institutional Investor") may hold up to 10% of the means of control in a competing MRT operator under certain conditions (instead of holdings at a rate of up to 5% before the License Amendment) without having to receive the Minister of Communications' approval, and up to 25% of the means of control in a competing MRT operator under certain conditions, with the Minister's approval, if the Minister believes this will not harm the competition in the MRT market (instead of holdings at a rate of up to 10% before the License Amendment). 

About Partner Communications

Partner Communications Company Ltd. is a leading Israeli provider of telecommunications services (cellular, fixed-line telephony, internet and television services). Partner's ADSs are quoted on the NASDAQ Global Select Market™ and its shares are traded on the Tel Aviv Stock Exchange (NASDAQ and TASE: PTNR). 

For more information about Partner see: http://www.partner.co.il/en/Investors-Relations/lobby

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Contact:

Tamir Amar Deputy CEO & Chief Financial Officer Tel: +972 (54) 781 4951

Amir Adar Head of Investor Relations & Corporate Projects Tel: +972 (54) 781 5051 E-mail: investors@partner.co.il

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SOURCE Partner Communications Company Ltd.