Meitav Investment House (MTAV) investor relations material

Executive summary

• Q2 revenue rose 28% YoY to ₪614m; adjusted EBITDA rose 33% to ₪265m, with a record 43.2% margin. Net inflows exceeded ₪14bn across savings activities.

• Total AUM reached ₪464.5bn at June 30, 2026; H1 revenue was ₪1,212m and adjusted EBITDA was ₪518m.

Financial highlights

• H1 revenue was ₪1,212m, up 30% YoY; reported revenue was ₪1,213m including ₪1m of litigation-related revenue.

• Q2 net income was ₪151m, up 25% YoY; shareholder net income was ₪142m, up 31%. H1 net income was ₪291m, up 28%, and shareholder net income was ₪270m, up 32%.

• Q2 operating income was ₪224m, up 37% YoY; H1 operating income was ₪447m, up 45%.

• H1 basic EPS was ₪3.26 versus ₪2.35; Q2 basic EPS was ₪1.70 versus ₪1.21.

• Adjusted EBITDA was ₪265m in Q2, up 33% YoY, and ₪518m in H1, up 39%.

Outlook and guidance

• FY 2026 profitability growth is expected to exceed 25% versus 2025, subject to market conditions; H1 performance was ahead of plan.

• Two Meitav Access alternative-investment funds launched early in 2026 raised more than ₪100m; the segment is expected to contribute meaningfully in future.

• Management cautioned that exceptional H1 inflows and market-share gains may not continue at the same pace; brokerage client and credit portfolio growth were viewed as more sustainable drivers.

• G&A expenses are expected to remain controlled, with no significant increase anticipated in H2; direct expenses may rise with revenue, AUM and trading activity.