The Board of Directors of Ratio

Ligad Rotlevy – Chairman of the Board

One of the founders of Ratio, Ligad Rotlevy has served as a director since 1992 and as Chairman of the Board of Directors since 2008. He also serves as Chairman of the Board of Directors of Ratio Finance and Ratio Petroleum Energy Limited Partnership, and as a director of several other private and public companies, including Argaman Industries Ltd., Lodzia Rotex Investments Ltd., Rotex (1980) Ltd., Tools Development Ltd., ProSeed Venture Capital Fund Ltd. (Chairman), and SpaceCom Satellite Communications Ltd. Ligad holds a B.A. in Computer Science and Exact Sciences from Tel Aviv University, and an MBA (international finance) from UHBS University.

Yair Rotlevy – Director

One of the founders of Ratio, Yair Rotlevy has served as a director since 1999. He also serves as a director in Ratio Finance and Ratio Petroleum Energy Limited Partnership, and as a director in several other private and public companies, including D.L.I.N. Ltd., Lodzia Rotex Investments Ltd., Argaman Industries Ltd. (Chairman), Inbal Natural Gas and Fertilizer Industries Ltd., and ProSeed Venture Capital Fund Ltd. He is the CEO of Lodzia Rotex Investments Ltd. Yair holds a B.A in Economics from Tel Aviv University and a B.A. in Sociology from the Hebrew University of Jerusalem.

Yigal Landau – CEO and one of the Founders of Ratio

One of the founders of Ratio, Yigal Landau has served as a director since 1992. He is the CEO of the General Partner – Ratio Oil Exploration Ltd. He also serves as a director in Ratio Finance and Ratio Petroleum Energy Limited Partnership and as a director in several other private and public companies, including ProSeed Venture Capital Fund Ltd. and Inbal Natural Gas and Fertilizer Industries Ltd. He is the CEO of Hiram-Landau Ltd., and a member of the Board of Trustees at Ariel University. Yigal holds a B.SC from the Technion and an MBA from Tel Aviv University.

Yuval Landau – Director

One of the founders of Ratio, Yuval Landau has served as a director since 2008. He also serves as a director in Ratio Finance and Ratio Petroleum Energy Limited Partnership and as a director of several other private and public companies, including ProSeed Venture Capital Fund Ltd. and as Investment Manager at Hiram-Landau Ltd. Yuval holds a B.A in Economics and Management from the Technion and an MBA from the Ono Academic College.

Attorney Limor Wiesel – Director

Adv. Wiesel has served as a director since 2012 and as an external director since 2015. She is a member of the Audit, Compensation and Finance Committees. Founder and owner of a law firm. Adv. Wiesel previously served as a senior director at Bank Leumi and head of Investment Consulting at the bank. Limor holds a B.A in Economics and an M.A. in Public Policy from Tel Aviv University. She also holds an LL.B. from Ono Academic College. She is an economic and investment advisor certified by the Israel Securities Authority.

Yekutiel Gavish – Director

Since 2005, Mr. Gavish has served as a director and as a member of the Investments, Audit, Compensation and Finance Committees. He also serves as a director in several other private and public companies, including REIT 1 Ltd., Tafnit Discount Investment Portfolio Management and more. His previous positions include Chairman of the Board of Directors of Tamir Fishman Underwriting Ltd., Co-CEO and member of the Board of Directors of Quality Capital Markets Ltd., Deputy CEO of Poalim Capital Markets Ltd., and a director at Bank Yahav and Halman Aldubi Provident and Pension Funds Ltd. Yekutiel holds a B.A in Agricultural Economics from the Hebrew University of Jerusalem.

Tamar Ciehanover – Director

Since 2015, Ms. Ciehanover has served as a director and as a member of the Audit, Compensation and Finance Committees. She is the CEO of a consulting firm advising multinational companies and start-ups and a director at Discount Capital Markets Ltd. Tamar holds an LL.B. from Bar -Ilan University and an MBA from Columbia University in the Unites States.

Ratio’s Management

Ratio’s management has vast experience in offshore and onshore exploration, development and production activities. The team comprises officers, consultants, and employees with high-end skills and a long track record, including specialization in the fields of geology, geophysics and engineering. The Leviathan discovery demonstrated the team’s skills, starting with locating a high-quality asset, interpreting the seismic data, applying and receiving a preliminary permit from the Petroleum Commissioner, and finally farming-in strategic players from the industry, including one of the most experienced deep-water operators in the region.

The geological team is led by the Chief Geologist – Mr. Eitan Aizenberg, who has vast experience in the field of oil and gas exploration in Israel and around the world. Mr. Aizenberg is the geologist who first identified the Leviathan prospect, including the estimated oil targets beneath the Leviathan gas discovery.

The Board of Directors and Management of Ratio Finance

Yaakov Tennenbaum

Mr. Tennenbaum has served as an external director since 2015 and is a member of the Audit, Compensation and Finance Committees. He serves as a director at the Bank of Jerusalem and previously served as the CEO of Mercantile Discount Bank.

Hila Levi

Ms. Levi serves as Financial Controller of the General Partner. She holds a B.A. in Business Administration and Accounting and an M.A. in Finance, both from the College of Management. She is a certified accountant.

Tirza Ottolenghi Florentin

Since 2015, Ms. Ottolenghi Florentin has served as an external director and as a member of the Audit, Compensation and Finance Committees. She serves as a director in several other private and public companies, including Vulcan Industries Ltd., Gaon Group Ltd., Israel Ports Company Ltd., and more. She has experience as an independent investment manager at Epsilon Investment House and CEO of I.G.I. Fund Management Ltd. She holds a B.A. in Economics and a M.A. in Business Economics from Tel Aviv University. She is also a graduate of the Executive Management Program at Harvard University.

Yosef Tenne

Mr. Tenne has served as an independent director since 2015 and is a member of the Audit, Compensation and Finance Committees. He serves as a director in various private and public companies, including Audicodes Ltd., OPC Energy Ltd., and more. Mr. Tenne has experience as a financial advisor and as CFO of Itamar Medical Ltd. He holds a B.A in Economics and Accounting, and an MBA in Accounting and Finance from Tel Aviv University. He is a certified accountant.