When You Own Great Real Estate Investor Presentation – March 28, 2018

Great Things Happen When You Own Great Real Estate Investor Presentation – March 28, 2018

1 G City, Rishon Lezion, Israel Disclaimer

This presentation may include forward-looking statements, including forecasts, evaluations, pro forma figures, estimates and other information relating to future events and issues. Forward-looking statements may relate to, among other things, revenues, earnings, cash flows, capital expenditures and other financial items. Forward-looking statements may also relate to our business strategy, goals and expectations concerning our market position, future operations, profitability, liquidity and capital resources. All statements other than statements of historical facts are forward-looking statements and can be identified by the use of forward-looking terminology such as the words "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "predict", "project", "will" and similar terms and phrases. Any forward-looking information contained in this presentation is based, in addition to existing information of the company, on present company expectations and evaluations regarding future developments and trends and on the interaction of such developments and trends. Although we believe the assumptions upon which any forward-looking statements are based are reasonable, any of these assumptions could prove to be inaccurate and the forward-looking statements based on these assumptions could be incorrect. Our business and operations involve risks and uncertainties, many of which are outside our control, and any one of which, or a combination of which, could materially affect our results of operations and whether the forward-looking statements ultimately prove to be correct. Forward-looking statements are based on current expectations and are not guarantees of future performance. Actual results and trends in the future may differ materially from those suggested or implied by any forward-looking statements in this presentation depending on a variety of factors including those described in greater detail in our Periodical and Annual Reports, Registration Statement on Form F-1, Registration Statement on Form F-3, Annual Report on Form 20-F and in other information we file and furnish including, but not limited to, with the Israel Securities Authority, the U.S. Securities and Exchange Commission, and the Canadian Securities Administrators, including under the heading “Risk Factors.” All written and oral forward-looking statements attributable to us or persons acting on our behalf are expressly qualified in their entirety by the previous statements. Except for any obligations to disclose information as required by applicable securities laws, we undertake no obligation to update any information contained in this presentation or to publicly release the results of any revisions to any statements that may be made to reflect events or circumstances that occur, or that we become aware of, after the date of this presentation. The information contained herein does not constitute a prospectus or other offering document, nor does it constitute or form part of any invitation or offer to sell, or any solicitation of any invitation or offer to purchase or subscribe for, any securities of Gazit-Globe Ltd. or any other entity, nor shall the information or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any action, contract, commitment or relating thereto or to the securities of Gazit-Globe Ltd.

2 Global Presence (1) Who are we?

Global real estate company focused on the ownership, Brazil management, and development of high-quality, 8% Nordics irreplaceable, necessity driven retail and mixed use Israel 17% 12% properties in major urban markets

Experienced and highly aligned management team with USA proven track record of creating value in retail properties 21% CEE 22% Global footprint offers opportunity and diversification that is difficult to replicate Canada 20% 112 consolidated properties, 2.6 million Sqm. of GLA )27.7 million Sqft.)(2) with a total assets value of NIS 36.8 billion (USD 10.6 billion)

Largest shareholder in First Capital Realty Inc.

Major Shareholder in Regency Centers Corporation CTY FCR Listed on the TASE, NYSE, TSX, under the symbol GZT ATR and is included in the TA-35 in Israel REG Israel

Braz Brazil Information in the presentation is as of December 31, 2017, unless otherwise stated. il NIS/USD exchange rate as of December 31, 2017 1$=NIS 3.467 (1) Based on investment value as presented in Gazit financial statements as of December 31, 2017. (2) Including jointly controlled properties. 33 Our Global Investments and Business Plan

Private Investments Mid Stage Public Mature Investments Investments Growing the “Private Collection” High Quality “Institutional Create Additional Grade” Portfolios Value

USD 860m USD 935m USD 1.2b USD 1.3b USD 1.3b USD 827m (NIS 3b)(2) (NIS 3.4b) (NIS 4.2b) (NIS 4.6b) (NIS 4.6b) (NIS 2.9b) Investment Investment Investment Investment Investment Investment

USD 128m (NIS 100% 100% 45.4%(4) 59.6% 32.6% 8.2% (1) 446m Owned Owned Owned Owned Owned Owned Investment)

(4) (3) 100% Owned 8 Assets(2) 10 Assets(5) 47 Assets 40 Assets 161 Assets 426 Assets

3 Assets GLA 1.8m GLA 2.1m GLA 12.8m GLA 11.7m GLA 24.0m GLA 59m sqf ? sqf (164K(2) sqf (177K sqf (1.2m sqf (1.1m sqf (2.2m (5.5m sqm) GLA 134.5k sqf (12.5K sqm) sqm) sqm) (5) sqm) sqm) sqm)

Opportunities Gazit Horizons Gazit Brasil Gazit Israel Citycon Atrium First Capital Regency Centers Est. 2017 Est. 2008 Est. 2005 Est. 2004 Est. 2008 Est. 2000 Equity One Est. 1991

4 Figures represented are as of 31 December 2017 unless otherwise specified and include rounding adjustments. Bar chart is not drawn to scale.. (1) Subsequent to 31 December 2017, Gazit sold ~4.4m shares of Regency Centers; the investment value reflects Gazit’s position as of the 22 March 2018 closing price. (2) Including Internacional. (3) Atrium – excluding 6 properties classified as held for sale as of 31 December, 2017 that were disposed in February 2018 and including jointly controlled properties. (4) Citycon- and including jointly controlled properties. Subsequent to 31 December 2017 Gazit acquired another 1.5% of Citycon’s shares. (5) Managed GLA. Including investment in Kochav Hazafon of NIS 105 million. The investment as of 31 December 2017 amount to NIS 12 million. Focus on Major Cities Across the Globe in Densely Populated Urban Areas 69% of Gazit’s Asset Value is Concentrated In 14 Major Cities* Stockholm, Helsinki, Oslo, Tallin, Tampere & Copenhagen US MSA: New 27Assets CEE MSA: Warsaw, Prague, York, Miami & 29% Wroclaw Boston 3 Assets 13% 6 Assets 2% 11%

Tel Aviv MSA** Sao Paulo 7 Assets 8Assets 14%

* Based on Gazit’s proportionate share in total asset value of consolidated subsidiaries (excluding assets in REG and FCR) in the respective metropolitan areas. ** Including Rishon Lezion and Kfar Saba. Portfolio Quality Weighted Average Cap Rate 6.3%

Nordics Central Eastern Europe North America 5.4% 7.5% 5.3% 6.9% Israel Sao Paulo

7.9%

Excluding Russia- 5.9%

Weighted average cap rate based on Gazit-Globe proportionate NOI in group’s subsidiaries excluding Regency Centers The “Private Collection” Business Strategy: Create value in our privately owned urban, irreplaceable, necessity driven retail and mixed use properties

Long-term oriented investor in income producing assets in dense urban locations with high barriers to entry and significant upside potential.

Identifying assets with opportunities for cash flow growth and value appreciation through proactive asset management, redevelopment and expansion, assemblage, below market rent and undervalued land.

7 Shopping Light Sao Paulo, Brazil Gazit Horizons, North America – Business Overview Business Strategy

Established Gazit Horizons as a wholly owned subsidiary in June 2017, with the goal of investing $2-$3 billion over the next 5 years*

Gazit Horizons intends to acquire and redevelop large assets in irreplaceable locations, focusing on downtown areas where people live work and play, in the country’s major urban markets, including Miami, New York and Boston

Pursue scarce real estate, “covered land” and assemblage strategies, while targeting outsized returns through proactive asset management.

Key Management

401 East 60th, Manhattan, New York

Jeff Mooallem Alison Lies CEO SVP of Acquisitions

* Forecast, subject to company’s sources, market conditions and investment opportunities. 401 East 60th, Manhattan , New York Recent – Gazit First Acquisition of Gazit Horizons in New York Market

Horizons In October 2017, Gazit Horizons acquired its first asset in the New York market, a three-level, 92,000-square-foot retail condominium on Manhattan’s upper east side, for $73.25 million. The property, located at East 60th Street along First Avenue, is 100% occupied by two tenants, Bed Bath & Beyond and Starbucks Coffee and is situated one block north of the Queensborough Bridge, with both tenants having access and visibility along First Avenue.

Brickell Gateway, Miami First Acquisition of Gazit Horizons

In July 2017, Gazit Horizons acquired Brickell Gateway, a 45,000 square foot building in Miami, Florida, United States. Located in the growing Brickell neighborhood of Miami, the property has excellent access and visibility to both pedestrian traffic and public transportation. Gazit Horizons intends to redevelop and expand the building to meet the demand of the area’s numerous retail, restaurant and office tenants. This property was the first asset acquired by Gazit Horizons and is consistent with the Company’s intended strategy to buy and redevelop properties with irreplaceable locations in major urban markets.

9 Gazit Brasil – Business Overview

Asset Map Business Strategy 6

1 2 3 4 5 6 Gazit Brasil is an urban location-driven retail owner, Cidade Jardim Morumbi Town Top Center Shopping Light Eldorado Mais Shopping manager, operator and developer in Sao Paulo, the business 192 tenants 169 tenants 122 tenants 211 tenants 427 tenants 217 tenants capital of South America. 39,000 sqm GLA: Owned GLA: Owned GLA: Owned GLA: 76,076 sqm GLA: Owned GLA: 33% ownership 31,000 sqm 20,020 sqm 20,811 sqm 4.3% ownership 13,753 sqm Wholly owned subsidiary of Gazit-Globe, the company has become a preeminent force in re-imagining exciting retail and mixed-use destinations. 8 9 7 Sao Paulo Metropolitan Portfolio Through proactive management, redevelopment, and Internacional acquisitions, Gazit Brasil built, over recent years, a high- 250 tenants 77,000 sqm GLA quality portfolio with exceptional locations that has translated 70% ownership into consistent growth year over year across all metrics. 7 Proforma post closing Portfolio Metrics In-place on Internacional(2) Total Assets (1) BRL 2.3B BRL 2.8B 8 Number of Assets 7 8 Paulista 1267 4 (1) Landbank 3 GLA ('000 sqm) 110 164 5 8 Occupancy 97.2% 98.0% Holding Rate – Gazit-Globe 100% 100% 1

2 Key Management 6 Prado Blvd

91 tenants

Owned GLA: 9,696 sqm

Mia Stark Andres Andrade Thiago Rodrigues CEO CIO Legal Director Under Contract (Internacional Shopping) Land owned or under contract 10

(1) Including new acquisitions: Carrefour Building (included with Shopping Light on the map) and Internacional Shopping (70% used for GLA). (2) See slide on Interncional acquisition Top Center Before After Case Study Value Creation Through Proactive Management

2014 2015 2016 2017 Acquisition and Re-tenanting Acquisition of the Revamping the submission of 95% of the mix, office tower and lobby and signing plans to bringing in parking garage with Decathlon municipality international for its flagship brands- Forever store and offices • Occupancy 100% 21 and MAC

• Yield on Cost(1) from 6.5% (2014) to 9.0% (2018)

• NOI Growth of approximately 70% in five years 11

(1) Shopping center only, excludes the office tower. 2018 NOI is based on pro-forma figures Current

Dutra Highway – 850,000 cars Latest Acquisition – per day

Pedestrian access and Internacional Shopping bus terminal Guarulhos, Sao Paulo metropolitan area

Holding Rate – Gazit Brasil 70% Acquisition Price (70%) BRL 937m (USD 281m) GLA (sqm) 77,000 (828,000 sqf) Vehicle Access Dutra Highway Land Area (sqm) 123,000 Additional Building rights (sqm) 200,000 (approved) Occupancy 98% Parking Spaces 4,200 Hypermarket, food operators, Cinema, Anchored by Poupatempo (goverment services), amusement Expansion park Investment Rationale Surrounding • Located 10 minutes away from International Airport (largest airport in Residential South American with 40M passengers annually) on a major highway • 30M annual mall visitors and R$1bn in sales • Upside in NOI through proactive management, cost savings, re-tenanting and expansions, together with mix used initiatives Offices and • 800K inhabitants in 5km radius. Dominant shopping center in Sao Paulo Retail metropolitan area with high barriers to entry • R$6.7bn investment by government in new metro lines adjacent to the Dutra Metro Station (2020) mall that will connect Sao Paulo city to the entire region in the next 2 years 1212 Extra Itaim - Sao Paulo, Brazil Extra Itaim – Case Study Generating Attractive Risk Adjusted Returns on Irreplaceable Assets

Unleveraged IRR 25% during a weighted average holding period of 3.5 years

Gazit Brasil acquired its first 17.5% stake in 2010. Between 2013 to 2017, Gazit Brasil proactively increased its stake to 100% by indirectly acquiring 17.5% stakes from 3 pension funds and the remaining 30% stake of the property in April 2017 through a bankruptcy court sale process.

Extra Itaim Hypermarket (owned by Casino) has a triple net, inflation adjusted lease that yielded approx. 8% annually to Gazit Brasil throughout its holding period.

In December 2017, Gazit Brasil completed the sale of the asset for total proceeds of R$350M, realizing a cash gain of R$140 million (approx. NIS 152 million / USD 43 million).

13 Gazit Israel – Business Overview

Business Strategy Asset Map . Wholly owned subsidiary of Gazit Globe, Gazit Israel is a leading Israel: Operating Assets owner-operator and developer of urban, grocery-anchored, leisure and entertainment shopping centers focused on the high-density Tel Aviv metropolitan market G Horev G Kfar Saba . Enhancing the quality of the portfolio through selective acquisitions,. Haifa Kfar Saba (re)development and proactive asset management Retail & Office Northern Cluster Retail & Leisure GLA: 12,570 sqm GLA: 42,240 sqm Haifa G 6 Portfolio Metrics Yokneam Yokneam Retail & Office G City Holding Rate – Gazit-Globe 100% GLA: 15,950 sqm Rishon Lezion Central Cluster Retail & Leisure ~0.9B USD(~3.1B Total Assets In Israel G Tzameret GLA: 80,790 sqm NIS) Tel Aviv Kfar Saba Retail & Office Other Assets ~0.2B NIS Rishon Tel Aviv GLA: 7,760 sqm G Rothschild LeZion Number of Assets (ISR) 10 Rishon Lezion Yavne JERUSALEM G Tel Baruch Retail & Office Tel Aviv Managed GLA (100%,'000 sqm) 177/192* (2.1M sqf) GLA: 12,820 sqm Retail & Office Occupancy 97.3% GLA: 7,700 sqm ISRAEL G Yavne G Kochav Hazafon Additional main building rights (100%,'sqm) ~107,000 Yavne Tel Aviv Retail Development 2,200 sqm GLA: 10,240 sqm Key Management G Ramat - Aviv Tel Aviv Land

Yaron Eshel Yoni Michawi Maya Gabay Idit Belogorodsky CEO EVP & CFO COO VP, General Counsel 14

* Including development projects in G City (GLA 13,265 sqm) and in Kochav Hazafon (GLA 2,200 sqm) . Excludes G Ramat Aviv land plot G City, Rishon Lezion – Case Study

Creating Value • G City is privately-held, unique and dominant shopping center spanning ~1 km of frontage with 80,000 sqm of land (-19.7 acres) on a major thoroughfare. Through • The strip is strategically located with high visibility and accessibility to main traffic routes. • Since our acquisition in 2006, we have completed multiple expansion projects. • The company is in the final stages of rebranding and expanding the western side of “G- City” Development and and the construction of “G-Fashion”. Proactive At acquisition After Expansion Growth GLA (sqm) 36,594 (394,000 sqf) 80,790 (870,000 sqf) +221% Management Stabilized NOI (million NIS) 26.9 (USD 7.6M) 94.5 (USD 26.8M) +351% G City, Rishon Lezion Acquisition and renovation cost (million NIS) 315.0 (USD 89.0M) 850.0 (USD 241.0M) +270% ~1,380 (USD Case Study Value (million NIS) 315.0 (USD 89.0M) +438% 391.0M)

Highway #20 G- Fashion Development

Cinema City

Rebranding and the 1st Decathlon Store in Israel

Connection to Highway #4

15 Israel – Active Development Projects

G City (development expansion) G Kochav Hazafon 6

Gazit’s Ownership 100% Gazit’s Leasehold 100% 13,265 (142,700 2,200 (23,700 Built GLA (sqm) Expected GLA (sqm) sqf) sqf) Expected opening Q4/19 Closing Q1/18

Budget (million NIS) 157.5 Expected opening Q1/20

Amount invested (million NIS) 66.8 Budget (million NIS) (Excluding acquisition costs) 105

Amount invested (million NIS) 12.4

. Expanding the privately held G City ~720,000 sqf (~67,000 . 4,200 sqm located on the heart of the high-class Kochav Sqm) to 861,000 sqf (80,000 Sqm) in Rishon Lezion, the fourth Hazafon neighborhood in the north of Tel-Aviv. largest city in Israel. . The center is another milestone in Gazit Israel’s strategy of . The new expansion will include 7 unique two level stores of operating in high-density, prime locations. leading retail companies. . The expansion GLA is 64% leased

16 Israel – Future Development Pipeline

G City (additional rights) G Kfar Saba (additional rights) 6

~63,000 sqm (549,000 sqf) out of ~44,000 sqm (~344,000 sqf) Additional building rights which 15,000 sqm are under Additional building rights* out of which 11,000 sqm are in construction (161,000 sqf) planning stage (~118,000 sqf)

. Part of G City, privately held 80,000 sqm (19.7 acre) property . The company is in the process of using it’s additional in Rishon Lezion, the fourth largest city in Israel. building rights to add prime commercial & office space to the existing shopping center.

. The project will be a combination of the ongoing renovation of the west part of the strip and entails plan to add a 30-40 level office tower above 2 levels of retail.

* Company’s share – 51% Mid Stage Investments

Palac Pardubice, Pardubice, Czech Central & Eastern Europe – Business Overview

Business Strategy Portfolio Metrics Asset Map

. Leading owner-operator and Total Assets (€b) 3.1b developer of food anchored Number of Assets 40(1) Russia shopping centres GLA (m sqm) 1.1 7 . Opportunistic growth Net LTV 30.1% prospects offered by emerging Occupancy 96.8% markets FFO (Adj. EPRA Earnings 2017) (€m) 122 Poland . All properties managed by Rating – S&P BBB - 21 local management team Rating – Fitch BBB - Cz. Rep 4 Holding Rate – Gazit-Globe 59.6% 3 Slovakia 4 1 Romania Hungary Number of Assets

Key Management GLA by Geography Key Tenants

Hungary Romania 2% 3% Russia 11% Poland Slovakia 58% 6% Liad Barzilai Ryan Lee Scott Dwyer Group CEO Group CFO Group COO Czech Republic 20%

Source: Atrium website and filings as of December 2017 (1) Excluding 6 properties classified as held for sale as of 31 December, 2017 that were disposed in February 2018 and including jointly controlled properties. Northern Europe/Nordics – Business Overview

Business Strategy Portfolio Metrics Asset Map

Total Assets (€b) 4.68b . Leading owner-operator and Number of Assets developer of urban, Number of Assets (1) 47 grocery-anchored shopping GLA (m sqm) (1) 1.18 centres in the Nordic and Net LTV 46.7% Sweden Baltic regions Occupancy 96.0% 9 Finland . In 2015 entered Norwegian Sektor Acquisition FFO (EPRA Earnings 2017) (€m) 152.3 15 market through the acquisition Norway Rating – Moody’s Baa1 Negative of Sektor Gruppen €1.5B 19 Rating – S&P BBB Negative . Target urban markets with 2 Baltics Holding Rate – Gazit-Globe 45.4% growing populations Denmark 2 . All properties managed by local management team

Key Management Market Value by Geography Key Tenants

Norway 30% Finland 37%

Marcel Kokkeel Eero Sihvonen Jurn Hoeksema Sweden & CEO EVP & CFO COO Denmark Baltics 26% 7%

Source: CTY filings and presentation as of 31 December 2017. (1) Including Kista Galleria. Mid Stage Investments – Citycon & Atrium • Focus on high density urban markets • Recycling capital and enhancing portfolio quality through divestment of non-core assets, selective acquisitions and investment in major redevelopment/expansions

2014 2017 104

60 56 43 27,000 16 ,000

Num of Assets* Avg. Asset Size (sqm'000) Avg. Asset Value (EUR'm) Latest Actions - 2017 Latest Actions - 2017 • 79% of the portfolio of standing investments are located in Poland • Completion of expansion of Iso Omena, in Helsinki, Finland - and the Czech Republic, with Poland at 60% Expansion of 37,700 Sqm to 101,000 Sqm, € 270 million investment

• 3 Major developments are ongoing in Warsaw – Promenada, • 3 Major developments are ongoing – Approx. €160 million Targowek and Reduta invested** – Molndal Galleria (Gotenburg), Lippulaiva (Helsinki) and Straedet (Copenhagen). • Since 2011 Atrium divested 114* non-core assets for approx. €297 million, acquired 7 assets for approx. €936 million and invested in • Since 2011 Citycon divested 62 non-core assets and 5 residential development and redevelopment approx. €200 million portfolios for approx. €675 million, invested approx. €2.5 billion in acquisitions and invested in development and redevelopment approx. €800million 21

Source: Citycon’s and Atrium’s corporate presentations * Citycon - Owned asset Including Kista. Atrium – Excluding 6 properties classified as held for sale as of 31 December, 2017 that were disposed in February 2018 and including jointly controlled properties. Mature Investments

2222

Boulder Colorado Yorkville Village, Toronto First Capital Realty (TSX: FCR) Mature Acquired by Gazit Globe in 2000.

Investments – Today FCR is one of Canada’s largest owners, developers and operators of grocery anchored, retail-focused properties, in urban markets with Regency Centers high barriers to entry.

& First Capital 159 Properties, GLA 25.2 million sqf and C$9.2 billion enterprise value.

The Gallery at Westbury Plaza, New York Best in Class Regency Centers (NYSE: REG) Portfolios in Equity One, which was founded by Gazit Globe in 1992 as a wholly owned subsidiary of Gazit, merged Superior Trade with Regency Centers in March 2017, creating the leading high-quality supermarket anchored REIT in the US. Areas and

Since the beginning of 2018, Gazit Globe sold Demographics approximately 4.4 million shares of Regency Centers and currently own 8.2%. Delivering Sustained Outperformance 23 Generating IRR’s Over Long Term Investments

Equity One – 21% Leveraged IRR*

$ 4.46 B

$ 1.2 B $ 0.09 B 1992 1998 2003 2017 Founded by Equity One lists Equity One acquires Successful Gazit on the NYSE IRT adding 92 income- Merger with producing properties Regency Centers to its portfolio

Gazit Globe’s U.S. subsidiary, Equity One )NYSE: EQY), merged with Regency Centers creating the largest high-quality supermarket anchored REIT in the US with an aggregate market capitalization of $11.5 billion and an enterprise value of approx. $15.6 billion

The merged company comprises of ~58.8 million square feet of GLA, and is included in the S&P 500 Benefits of the Merger

Achieved 14% premium for all Equity One shareholders with approximately USD 1.7 million (NIS 6 million) savings in G&A for Gazit.

Post Transaction – Lower Risk and Higher Cash Flow and Liquidity 24

* IRR calculation is based on management analysis of Gazit Globe’s levered return on it investment in EQY until the announcement of the merger in USD. Investment Opportunity Rare opportunity to invest in a global, high-quality urban retail portfolio at a meaningful discount to NAV with a solid 4.5% dividend yield*

Clear strategy to narrow NAV discount and drive superior risk-adjusted returns

A strong and aligned management team with decades of proven track record of creating and maximizing shareholder value

Strong internal growth from capital recycling, property intensification, development, and redevelopment activities

On the ground experienced asset management teams

2525 G Zameret , Tel Aviv, Israel * As of market close 26 March, 2018 Arkady Pankrac, Prague, Czech Financials

26 Investment – grade credit rating group wide

Agency Credit Rating

S&P Maalot (Local Rating) ilAA- | Stable

Midroog (Moody’s affiliate) Aa3il | Stable (Local Rating)

S&P BBB | Negative

Moody’s Baa1 | Negative

S&P BBB- | Stable

Fitch BBB- | Positive

Moody’s Baa1 | Stable

S&P BBB+ | Stable

DBRS BBB (High) | Stable

Moody’s Baa2 | Stable

27 Focus on Urban, High- Density Assets in Stable and Growing Markets Country Snapshot and NOI Diversification S&P % of GDP Country Rating NOI (1) Growth

Canada AAA 21.4% 2.2% Norway AAA 7.1% 2.2% Sweden AAA Liljeholmstorget, 5.2% 2.6% AA+ and Above Germany AAA 0.7% 2.4% Stockholm, Sweden Other Investment-Grade U.S. AA+ 16.9% 2.7% Finland AA+ 7.6% 2.5% Below Investment-Grade AA+ and Above 58.9%

Estonia AA- 2.2% 3.3% Czech Republic AA- 3.8% 3.5% 58.9% Slovakia A+ 1.3% 3.6% Israel A+ 8.3% 3.3% Poland BBB+ 12.6% 4.0% 6.8% Russia (2) BBB- 4.3% 1.8% Romania BBB- 0.9% 4.2% Hungary BBB- 0.9% 3.5% Other Investment Grade 34.3% Brazil BB 6.8% 2.5% 34.3% Below Investment Grade 6.8% Source: Bloomberg; GDP reflects 2018 forecast (1) NOI as of Q4/2017 and on a proportionate basis (2) On the 23rd of February, 2018 Russia’s credit was upgraded by S&P from BB+ to BBB-. 28 2017- Results Highlights

(1) Economic FFO p/s – Increase of 19% LTV (expanded solo) - Decrease of 8.6% Shareholder’s Equity – Increase of 22% Economic FFO w/o fx rates impact - Increase of 28% NIS in millions

NIS 9,936

62.0% 8,158 53.4%

31/12/2016 31/12/2017 31/12/2016 31/12/2017

3.58

G&A – HQ decrease of 21% Shareholder’s Equity per share - Increase of 23% NIS in millions NIS 3.02 2.80 51.4

41.7 94

2016 2017 31/12/2016 31/12/2017 31/12/2016 31/12/2017

(1) The Economic FFO is presented according to the management approach and in accordance with the EPRA guidance and includes Gazit’s Proportionate share in Regency’s FFO Well Staggered Debt Maturity Schedule

Debenture Maturity Schedule (expanded solo) as of 31.12.2017

NIS in Millions 14.2% 3,000.0 12.2% 14.0% 2,500.0 11.1% 11.3% 10.5% 12.0% 9.8% 8.9% 2,000.0 9.4% 10.0% 1,511 8.2% 1,500.0 1,296 1,179 1,200 1,117 8.0% 996 1,049 944 1,000.0 870 4.6% 489 6.0% 500.0 (*) 4.0% 0.0 2.0% 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 and after 5.2% 5.8% 5.1% 5.1% 5.2% 4.8% 4.7% 4.0% 4.0% 4.3%

. Average Duration – 4.6 years

. Average interest rate – 4.9%

(*) Repayments in 2019 include Series 10 principal of NIS 759m with coupon of 6.5% which is secured by part of G City in Rishon Lezion, Israel High Liquidity=Financial Flexibility

Access to Global Sources High Liquidity (1)

US$ in Billions NIS in Billions

US$ 1.5 NIS 7.8

US$ 1.3 Consolidated 3.8 Subsidiaries 44%

61%

The Company and its 4.0 Private Subsidiaries

56% 39% 31/12/2017

31/12/2016 31/12/2017

International Banks Local Banks

(1) Cash and Unutilized credit facilities. Not including Liquidity in FCR amounting to NIS 1.4B Equity book value vs. market value and implied cap

Holdings (Shares Holding Book value Market Value in millions, Rate (%) (December 2017) (March 28, 2018) December 2017)

18.5 10.9 4,432 3,818 Share Price (March 28, 2018) 33.99

79.6 32.6 4,643 4,377 Number of shares (millions) 193.46

396.9 44.6 4,078 3,133 Market Cap 6,576

224.7 59.6 4,540 3,888 Net Debt (Proportionate share) 22,318

100 2,773 2,773 Properties under Development and Land (1,304)

100 1,882 1,882 Less Regency Shares (4,432)

100 446 449 EV - Total Income Producing Properties 23,157

Europe and Others 100 557 581 Annual NOI (**) - Group's proportionate share 1,596

Total Assets 23,351 20,901 Implied CAP Rate 6.89%

Net Debt 12,481 Equity (excluding deferred taxes*) 10,870 Equity per share 56.18

LTV 53.4% 32

All figures quoted in NIS (*) Excludes deferred tax liabilities in an amount of NIS 934 million (of which NIS 636 million with respect to the investment in REG shares payable upon the immediate realization of all the REG shares, (**) Based on Q4 proportionate NOI annualized. Attractive valuation – FFO multiple of 10.1X, implied cap of 6.89%

FFO Multiple Implied Cap Rate

10.0% 30x

9.0% 25x 7.55% 8.0% 7.28% 7.30% 7.42% 7.06% 7.10% 7.10% 7.09% 7.19% 7.00% 6.84% 6.75% 6.96% 6.89% 7.0% 6.58% 6.52% 18.9x 20x 6.0% 16.7x 15.8x 14.2x 15.2x 14.6x 14.1x 5.0% 13.4x 13.8x14.0x 13.5x 13.7x 15x 12.7x12.5x 12.4x 13.1x12.5x 12.4x 13.0x 12.4x 11.9x 11.8x 4.0% 11.0x 11.0x10.6x 9.8x 10.3x 10.1x 8.9x 10x 3.0%

2.0% 5x 1.0%

0.0% 0x

(*) Based on publicly reported proportionate debt, NOI and FFO. G Kfar Saba Kfar Saba, Israel

Appendix

34 Evolution of Gazit Globe

Equity One Gazit-Globe acquires IRT Establishes a Expands into Acquires Gazit-Globe Successful Equity One is Gazit-Globe adding 92 presence in CEE through the Norway’s Sektor Launches U.S. Equity One lists divestment of founded in the enters into income- Brazil through acquisition of through its Investment on the NYSE ProMed US Canada producing Gazit-Globe Atrium together subsidiary, Subsidiary Gazit Properties properties to its Brazil with CPI Citycon, for Horizons portfolio €1.47bn

1992 1997 1998 2000 2002 2003 2004 2005 2007 2008 2009 2010 2011 2012 2013 2015 2016 2017

Citycon expands Gazit-Globe Gazit-Globe Gazit-Globe Gazit-Globe to Sweden, Gazit-Globe become the enters the Successful Equity One becomes the establishes Estonia and becomes the controlling healthcare Gazit-Globe IPO divestment of merger with controlling Gazit-Globe Lithuania. Gazit- sole controlling shareholder of business and in the US Royal Senior Regency shareholder of Israel Globe shareholder of First Capital forms Royal Care Centers Citycon (Development) establishes Atrium Realty Senior Care ProMed

35 Management

CHAIM KATZMAN ADI JEMINI RAMI VAISENBERGER ZVI GORDON Founder & CEO EVP and CFO VP & Controller VP of Investments

Chaim Katzman is the Founder, Chief Chief Financial Officer since Jan. 2016 Financial Controller, since July 2004 Zvi Gordon has been Vice President Executive Officer and controlling Joined the Group in 2010 Leads Controlling and Reporting of Investments at Gazit Globe since shareholder of Gazit Globe Ltd. Previously Chief of Staff to Chaim department July, 2017. Mr. Gordon joined Gazit Chairman of Citycon Oyj (since 2010) Katzman and Regional Controller of Previously auditor, Ernst & Young in 2015 as Vice President of Mergers Founder, CEO and Chairman of Equity One (2000 – 2004) & Acquisitions and Chief of Staff to Equity One inc. (CEO 1992 to 2006) Seven years in US affiliate of global Bachelor’s Degree in Business the Company Chairman at Gazit Group USA. Prior to joining Gazit, Chairman, Atrium European Real accounting firm, Deloitte Management, College of Mr. Gordon worked as an Estate (since 2008) Bachelor of Science in Accounting Management, Tel-Aviv and Information Systems (Virginia Certified Public Accountant in Israel investment professional at a U.S. real Founder, Gazit-Globe Real Estate estate private equity fund. Mr. Institute at the Interdisciplinary Tech), graduating Summa Cum Laude (2003) Gordon holds a Bachelor’s Degree, Center (IDC), graduating Summa Cum Laude from Certified Public Accountant in the US Graduate of Tel Aviv University Law Binghamton University and a MBA School with a focus in finance from MIT Sloan.

36 International and Independent Board

Ehud Arnon, Chairman of the Board of Directors, was until recently the President and CEO of Israel Discount Bank of New York, where he led the bank to enhanced profitability and many new business ventures which included finance of the the not for profit sector and expanding the banks real estate portfolio. In the past, Arnon Ehud Arnon had also served as Head of Corporate Division at Israel Discount Bank in Tel Aviv, where he led several transformative projects. Chairman Arnon holds a Bachelor's degree in Economics and International Relations, and a Master of Business Administration, both from The Hebrew University of Jerusalem. He has filled a variety of senior positions in the banking sector, including Head of the Corporate Division of HSBC Israel; as well as several key positions at Bank Hapoalim amongst which were, Sector Manager Corporate Division, Head of Trade Services, Bank Spokesman and Manager of the San Francisco Branch.

Chaim Katzman is the Founder, Chief Executive Officer and controlling shareholder of Gazit Globe Ltd. Chairman of Citycon Oyj (since 2010). Founder, CEO and Chairman Chaim Katzman of Equity One inc. (CEO 1992 to 2006). Director, First Capital Realty (Chairman until 2015). Chairman, Atrium European Real Estate (since 2008).Founder, Gazit-Globe Real CEO and Director Estate Institute at the Interdisciplinary Center (IDC), Graduate of Tel Aviv University Law School.

Ronnie Bar-On Various Israeli governmental positions (2003-2013) including Minister of Finance, Minister of the Interior, Minister of National Infrastructure, Minister of Science and External Director Technology, Chairman of the State Control Committee, Chairman of the Foreign Affairs and Defense Committee, Member of the Knesset . Before starting his public mission, Bar –On founded and led a law firm for 27 years. Graduate of the Hebrew University in Jerusalem Law School

Haim Ben Dor Corporate consultant in finance and investments. Degree in Accounting from College of Management, Jerusalem and auditors' certificate from Ministry of Justice (Israel) Director

Yair Orgler Former Chairman of the Board of the Tel-Aviv Stock Exchange and S&P Maalot. Previously director of Bank Hapoalim. Professor Emeritus of the Management Faculty at External Director Tel Aviv University. B.S. in Industrial Engineering and Management from Technion; M.S. Engineering (USC) and Ph.D. in Management- (Carnegie-Mellon University)

Zehavit Cohen Mrs. Cohen is a Managing Partner and the Office Head of Apax Partners Israel. Mrs. Cohen lectures at the Wharton School and she holds a BA in Accounting from Director Duquesne University; an MBA from the University of Pittsburgh, and an MA from the Wharton School, University of Pennsylvania.

Douglas Sesler EVP Real Estate, Macy;s Inc. Previous head of global real estate principal investments of Bank of America Merrill Lynch. From 2005 until December 2008, Mr. Sesler served Director as Managing Director and later as co-Head of Real Estate Investment Banking, Merrill Lynch. B.A. in Government (Cornell)

Dori J. Segal joined Gazit-Globe (TASE/NYSE/TSX:GZT) as an investor in 1992. In 1993 he became a member of the senior management team until January 2018. He currently serves as the Chairman of First Capital Realty (TSX:FCR). Previously, Segal served as Vice Chairman of Equity One which merged into Regency Centers Dori Segal Corporation (NYSE:REG) creating the largest high quality shopping center REIT in the US and also as the deputy chair of Citycon (CTY1S:HEX). Since 1993, Segal has been Director active in the acquisition, development and redevelopment of shopping centers. Segal was instrumental in Gazit-Globe’s expansion into Canada, where he led the acquisition and growth of First Capital Realty. From 2000 to 2015, Segal served as the president and CEO of First Capital Realty and currently is its Chairman. From 1998 to 2008 and 2017 to 2018, Segal served as the CEO of Gazit – Globe. 37 Thank you

Contact Information Adi Jemini EVP & CFO +972.3.6948000

Doron Lavi Segelson Head of Investor Relations [email protected] +972.3.6948037

38 G Tel Baruch , Tel Aviv, Israel