Company & Financial - Partner

August 18, 2021

OverviewQ2 2021

Company & Financial

Safe harbor statement

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This presentation includes forward-looking statements within the meaning of Section 27A of the US Securities Act of 1933, as amended, Section 21E ofthe US Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. Wordssuch as "estimate", “believe”, “anticipate”, “expect”, “intend”, “seek”, “will”, “plan”, “could”, “may”, “project”, “goal”, “target” and similar expressionsoften identify forward-looking statements but are not the only way we identify these statements. In particular, this presentation communicates ourexpectation regarding our belief (i) that we will be able to advance the 5G network rollout and expand deployment of the fiber optic infrastructure, forwhich we expect to complete the major rollout phase during the year 2023, (ii) the scope of the Company’s future contribution to the government-mandated fiber incentive fund and (iii) the continued overall impact of COVID-19 on the Company's results. In addition, all statements other thanstatements of historical fact included in this presentation regarding our future performance are forward-looking statements. We have based theseforward-looking statements on our current knowledge and our present beliefs and expectations regarding possible future events. These forward-looking statements are subject to risks, uncertainties and assumptions, including in particular (i) unexpected technical issues which may arise as werollout our 5G network and as we deploy the fiber optic infrastructure, (ii) Changes in the regulation and economic conditions with respect to thegovernment-mandated fiber incentive fund and (iii) the severity and duration of the impact on our business of the current health crisis. In light of thecurrent unreliability of predictions as to the ultimate severity and duration of the health crisis, future results may differ materially from those currentlyanticipated. For further information regarding risks, uncertainties and assumptions about Partner, trends in the Israeli telecommunications industry ingeneral, the impact of current global economic conditions and possible regulatory and legal developments, and other risks we face, see “Item 3. KeyInformation - 3D. Risk Factors”, “Item 4. Information on the Company”, “Item 5. Operating and Financial Review and Prospects”, “Item 8. FinancialInformation - 8A. Consolidated Financial Statements and Other Financial Information - 8A.1 Legal and Administrative Proceedings” and “Item 11.Quantitative and Qualitative Disclosures about Market Risk” in the Company’s Annual Reports on Form 20-F filed with the SEC, as well as its immediatereports on Form 6-K furnished to the SEC. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a resultof new information, future events or otherwise.

Company

Overview

Partner leading Israeli Telco group

Cellular 28% MS

InfrastructureBased Internet

Business SolutionsLeading

service provider

Partner TV ~13% MS

Partner Fiber~30% penetration600K Households

connected*

>180K sub.* 223K sub.2,970K sub.

Strengthening customer reach through growth engines and value

* As of August 18 2021

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354K sub.(incl. Fiber sub.)

ISP operationLeading

service provider

Highlights

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Building new management team with new executive appointments and restructuring

Focus on revenue growth engines, market leadership and profitability improvement

New fiber campaign, fiber subscriber base constitutes more than half of Partner's infrastructure based

internet subscriber base as of today

Cellular segment - moderate recovery in roaming service revenues in Q2’21, trend to continue but a

retreat is possible

Fixed-Line segment – Reaching 600K homes connected, updating “stand alone” rates of fiber (June 21) &

TV (August 21)

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** As of March 25th, 2021

Advanced network

Acquired 5G frequencies from the MoC and has a compatible 5G core to enable 5G services

5G frequencies tender - received the highest grant among all communication groups & benefit from a significant discount in frequency fees

Provides the widest 4G deployment in the country

Network sharing agreement with Hot Mobile – Decrease in Opex and Capex of the cellular network vs competitors

First to launch a VoLTE service

Completion of cover and call continuity by WiFi calling

Cellular – main points

Partner More - Value Strategy & 012 mobile - Low cost brand

5G services as a potential growth engine

Value offerings to the customer – More for More

Improvement in customer satisfaction

Continued subscriber base growth

Decline in cellular service revenues erosion

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Cellular Subscribers & Cellular Market Share(EOP, '000s)

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Cellular ARPU & Churndecline in churn rate compared with Q2’20

Cellular churn (%) Cellular ARPU (NIS)

9

Partner is an infrastructure player in the fixed-line market

Massive coverage deployment of potential households in Israel, and expect to complete major

rollout phase during 2023

OPEX savings - replacing wholesale infrastructure with independent infrastructure

Approx. 83% of TV subscribers are in bundle/triple offerings (broadband based)

Wholesale potential on our fiber-optic network

Transmission services expansion potential on our fiber-optic network

Low deployment cost compared to other companies in the world

Premium solution based on active Ethernet (P2PE) providing a private fiber to each subscriber

Partner's Fiber-Optic Network

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Partner's Fiber-Optic Subs* & Homes Connected** (EOP, '000s)

Penetration rate of ‘PARTNER FIBER’ at Q2’21 end reached 30% vs. 26% at Q1’20 end

* Active subscribers to an end-to-end service including both Partner’s fiber-optic infrastructure and access to the internet

** The total number of residential households (Homes Connected) within buildings connected to Partner’s fiber-optic infrastructure

>

Partner's Infrastructure-Based Internet Subscriber Base*(EOP, '000s)

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* Active subscribers to an end-to-end service including both infrastructure (either through the wholesale market on Bezeq/Hot infrastructure or through Partner's fiber-optic infrastructure) and access to the internet

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52 municipalitiesfrom Eilat in the

south to Naharia in the north

AfulaAshdodAshkelonAzorBat YamBe'er Ya'akovBe’er ShevaEilatGivat ShmuelGivatayimGanei TikvaHod HasharonHerzliyaHaderaHolonHaifaHarishJerusalemKarmielKfar SabaKfar YonaKiryat BialikKiryat GatKiryat OnoKiryat YamKiryat Mozkin

LodMa'ale AdumimModi’in-Maccabim-Re’utNahariaNetanyaNess ZionaNesherNetivotOr YehudaOr AkivaOranitPardes Hanna-KarkurPetah TikvaRa'ananaRehovotRosh Ha’AyinRishon LezionRamlaRamat GanRamat-HasharonShohamSderotTel Aviv-JaffaTirat CarmelYavneYehud-Monosson

Super Aggregator strategy, with traditional TV services (linear channels, VOD, etc.) included

Partnership with Netflix & Amazon Prime Video (including unique TV bundle offering).

Offering comprehensive channels & add-on packages for sports fans (Sport 1, Sport 5, ONE), and Android TV compatible Sports apps (ESPN, NBA League Pass, DAZN)

Offering cloud gaming service as a supplementary service on our TV platform – Partner TV Gaming, powered by Blacknut

Flexible content costs model, including revenue-share with content providers

Potential revenue growth from additional revenue sources such as programmatic advertising - Android TV set-top-box

Competitors compelled to make technological adjustments to the changing viewing habits – significant CAPEX

Focus on profitability improvement

Partner TV

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Partner TV subscriber base(EOP, '000s)

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* In the second quarter of 2021, the Company removed from its TV subscriber base approximately 21 thousand subscribers who had joined the Company at various times and had remained in trial periods of over six months without charge or usage

Excluding subscribers removal (see comment below), the subscriber base increased by 10 thousand in the second quarter

*

Equipment Sales Quarterly gross profit growth compared to Q2’20 as sales recovery

continues, along with favourable sales mix

Equipment sales revenues and gross profit

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Integrated Hybrid Solutions

Hosting IT Integration

Cellular Integration

Networking Security

International Communications

Wired Telephony

Partner's Business Solutions

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Financial

Overview

OPEX

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Consistent growth in fixed-line segment with stability in OPEX

* OPEX includes cost of service revenues, selling, marketing and administrative expenses and credit losses, and excludes depreciation and amortization expenses and other expenses (mainly amortization of employee share based compensation). Please see “Use of Non-GAAP Financial Measures” in the quarterly PR.

NIS

, m

illi

on

Adjusted EBITDA and Adjusted FCFSignificant CAPEX outlay in new revenue engines of fiber-optic infrastructure and TV from 2017

Adjusted EBITDA & Adjusted EBITDA* margin (NIS, million) Adjusted Free Cash Flow (before interest) (NIS, million)

* Adjusted EBITDA figures from 2019 include impact of adoption of IFRS 16 (NIS 157 million in 2019). For more details see the Company’s 20-F report.

Adjusted EBITDA, Adjusted EBITDA margin and Adjusted Free Cash Flow are Non-GAAP financial measures. Please see “Use of Non-GAAP Financial Measures” in the quarterly PR.

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Repayment Schedule Notes & Loans (NIS, million)Debt/Net Debt (NIS, billion)

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As of June 30, 2021

Decrease in net debt over years

Net Debt to Adjusted EBITDA*

* Notes payable and borrowings and financial liability at fair value, less cash and cash equivalents and short and long-term deposits divided by Adjusted EBITDA for the last 4 quarters.

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Partner’s strengths

The only Israeli Provider of active Ethernet (P2PE) based fiber solution, First to offer 3 Gbps over fiber to private costumers, First to offer 3G & 4G in Israel, First to offer Wi-Fi Calling and VoLTE in Israel, First to offer roaming to customers in Israel, First to offer SMS in Israel

5G rollout, widest 4G coverage, leading customer service, network sharing agreement, expanding Independent fiber-optic infrastructure

Transforming into a Total Telecommunications Group, diversified revenue sources from private and business customers, increasing digital operations, innovation

Partner serves over 3 millions connections - cellular subscribers, fixed-line households with broadband internet, ISP services and TV services

Innovative

DNA

Billing

Relations

Defined

Strategy

Strong

Foundations

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Tamir Amar

Deputy CEO & CFO

+972 (54) 781 4951

Amir Adar

Head of Investor Relations & Corporate Projects

+972 (54) 781 5051

[email protected]

Investor website:

www.partner.co.il/en/Investors-Relations/lobby

IR contacts

Thank you