The cash flows from investing activities in 2018 and 2019 refer to the consideration from the expected sale of TGI, taking into account the assumptions, comments and reservations detailed
below, and to transactions in the other assets of the Company - KLC and Avis Ukraine. As of the date of this report, negotiations regarding the sale of the Company's holdings in TGI are in an
advanced stage. Negotiations regarding the sale of the Company's holdings in KLC and Avis Ukraine, an investment or the sale of any of their assets, have not yet begun. In addition, as of the
date of this report, the Company does not have any information regarding the nature of such future transaction (investment in shares, sale of shares or sale of operations).
3. In regards to the sale of the Company’s holdings in TGI – as of the date of this report the Company does not have accurate information regarding the net consideration which would be
received from the transaction and which would be used for repayment to the Debenture Holders.
As aforesaid, as of the date of this report, the negotiations regarding the sale of TGI were not yet finalized, and accordingly, there is no certainty that a sale agreement will be signed,
that the expected consideration will equal the consideration included in the cash flow forecast or the date on which the consideration would be received by the Company