MAGIC SOFTWARE ENTERPRISES LTD.

Magic Software Enterprises Ltd. is an Israeli public limited liability company that began operations in 1986, having been organized and registered in Israel on February 10, 1983. Its Ordinary Shares have been listed on the NASDAQ Global Stock Market (symbol: MGIC) since August 16, 1991, transferring to the NASDAQ Global Select Market on January 3, 2011. The company's Ordinary Shares have also traded on the Tel Aviv Stock Exchange (TASE) since November 16, 2000, and have been included in the TASE TA-125 Index since December 15, 2011. Magic Software Enterprises Ltd. expanded its operations through several acquisitions. On August 23, 2022, it acquired The Goodkind Group, LLC (TGG) for a total consideration of $11.6 million, subject to net working capital adjustments. TGG provides permanent and temporary staffing in sectors such as Information Technology, Accounting & Finance, Digital Media, Marketing, Human Resources, and Financial Services. TGG also offers services in compensation design, employee opinion surveys, employment policies, performance management, regulatory compliance, and succession planning. On July 1, 2022, the company acquired Intrabases SAS, an IT professional services provider based in Nantes, France, for $3.4 million in cash. Additionally, in December 2022 and June 2023, Magic Software Enterprises Ltd. acquired an additional 3.75% and 24.77% equity interest, respectively, in Mobisoft Ltd., an Israeli provider of a proprietary core system for sales and distribution field activities for consumer goods manufacturers and wholesalers. These two transactions involved a total cash consideration of approximately $6.2 million, resulting in Magic Software Enterprises Ltd. holding 98.52% of Mobisoft.