INCR

The Company reported over NIS 270 million in revenue, NIS 37 million in Net loss, NIS 47 million in Adjusted EBITDA and NIS 17 million in positive operating cash flow, reflecting strong resilience and consistent profitability, with a twelfth consecutive half-year of positive Adjusted EBITDA, as the Company continues to recover from the impact of the October 7, 2023 events NEW YORK and HERZLIYA, Israel, April 30, 2026 (GLOBE NEWSWIRE) -- InterCure Ltd. (NASDAQ: INCR) (TASE: INCR) (“InterCure” or the “Company”), today announced its financial and operating results for 2025. All amounts are expressed in New Israeli Shekels (NIS), unless otherwise noted. FY2025 Financial Highlights and Milestones 1”Adjusted EBITDA” means EBITDA for the Company’s cannabis sector, adjusted for changes in the fair value of inventory, share-based payment expense, impairment losses (and gains) on financial assets, and other expenses (or income). Other income, net includes war-related damage compensation from the tax authorities, changes to allowance for credit risk, impairment of inventory and excludes non-cannabis sector expenses. EBITDA means net income (loss) before interest, taxes, depreciation and amortization. 2” Including restricted cash Operational and Strategic Highlights Alexander Rabinovitch, CEO and Chairman of InterCure,: “We believe that 2025 marked a year of disciplined execution and accelerating recovery for InterCure, and that we delivered strong momentum in the second half of the year, with nearly 20% revenue growth, while maintaining positive Adjusted EBITDA for the twelfth consecutive half-year. Importantly, we generated NIS 17 million in positive operating cash flow, supporting debt repayment and strengthening the Company’s financial position. During the year, we achieved a significant operational milestone by resuming production at our Nir Oz facility and delivering our first batches since the October 7, 2023 events. At the same time, we launched a record number of new products, which we believe reinforces our leadership in the premium medical cannabis category. The rehabilitation of the Nir Oz site is extending beyond the originally planned timeline and remains a complex, resource-intensive process, progressing in line with the receipt of additional compensation advances. We also achieved a key milestone with our first meaningful revenues in the German market, supporting the continued execution of our global expansion strategy across Germany and additional markets throughout 2026. The anticipated launch of operations under the Botanico transaction, together with our strategic collaboration with Cannasoul, is expected to further enhance our pharmaceutical platform and global positioning. In parallel, we are closely monitoring regulatory developments, including recent statements from U.S. authorities recognizing the medical value of cannabis. We believe that these developments, alongside evolving frameworks in the United States and Europe, further support our strategic positioning to leverage our vertically integrated model, scientific leadership, and international partnerships to drive long-term value for patients and shareholders.” Company’s Revenues and Adjusted EBITDA 2022-2025 (*) Results were affected by damages to our southern facility caused by the terrorist attack on October 7, 2023, and the war in Gaza. About InterCure (dba Canndoc) InterCure (dba Canndoc) (NASDAQ: INCR) (TASE: INCR) is the leading, profitable, and fastest growing cannabis company outside of North America. Canndoc, a wholly owned subsidiary of InterCure, is Israel’s largest licensed cannabis producer and one of the first to offer Good Manufacturing Practices (GMP) certified and pharmaceutical-grade medical cannabis products. InterCure leverages its market leading distribution network, best in class international partnerships and a high-margin vertically integrated “seed-to-sale” model to lead the fastest growing cannabis global market outside of North America. For more information, visit: https://www.intercure.co 3 The claim is not final and remains subject to adjustment. The total amount claimed may be increased as the recovery process is being extended in line with the receipt of additional compensation advances and further information becomes available. Non-IFRS Measures This press release makes reference to certain non-IFRS financial measures. Adjusted EBITDA, as defined by InterCure, means earnings before interest, income taxes, depreciation, and amortization, adjusted for changes in the fair value of inventory, share-based payment expense, impairment losses (and gains) on financial assets, and other income, net which included war-related damage compensation from the tax authorities, changes to allowance for credit risk, and impairment of inventory. This measure is not a recognized measure under IFRS, does not have a standardized meaning prescribed by IFRS and is therefore unlikely to be comparable to similar measures presented by other companies. InterCure’s method of calculating this measure may differ from methods used by other entities and accordingly, this measure may not be comparable to similarly titled measures used by other entities or in other jurisdictions. InterCure uses this measure because it believes it provides useful information to both management and investors with respect to the operating and financial performance of the Company. Below is a table of reconciliation of Adjusted EBITDA to net income: Forward-Looking Statements This press release contains forward-looking statements. Forward-looking statements may include, but are not limited to, the Company’s resilience and consistent profitability, the Company’s expected recovery from the impact of the October 7, 2023 events, the Company’s expected growth, including in Adjusted EBITDA, the Company’s and its subsidiaries continued expansion, the Company’s partnerships, investments, collaborations and strategy, the Company’s financial results, regulatory developments, legal proceedings, and expected receipt of compensation from the Israeli government, as well as statements, other than historical facts, that address activities, events or developments that InterCure intends, expects, projects, believes or anticipates will or may occur in the future. These statements are often characterized by terminology such as “believes,” “hopes,” “may,” “anticipates,” “should,” “intends,” “plans,” “will,” “expects,” “estimates,” “projects,” “positioned,” “strategy” and similar expressions and are based on assumptions and assessments made in light of management’s experience and perception of historical trends, current conditions, expected future developments and other factors believed to be appropriate. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. Many factors could cause InterCure’s actual activities or results to differ materially from the activities and results anticipated in forward-looking statements, including, but not limited to, the following: the Company’s resilience, profitability and financial position; the Company’s recovery from the October 7, 2023 events and resumed production, importations and sales from the Nir Oz facility; the Company’s leadership in the premium medical cannabis categorty, the Company’s financial result and projections, including in different markets; the Company’s success with its partenrships, the Company’s success in executing its global expansion plans (including the pending acquisition of Botanico Ltd. (ISHI) and its closing); the ability to satisfy the conditions to closing and complete the ISHI Acquisition Agreement; the Company’s expectation to launch operations under the Botanico transaction; the Company’s expectation to enhance its pharmaceutical platform and global positioning; the Company’s expectations regarding expansion, product launches and revenues in 2026 and in the future; the increase of the Company’s holdings in Cannasoul R&D Ltd. and its expectation that his partnership will enhance the Company’s capabilities and support its positioning; regulatory developments in the United States, including potential rescheduling of cannabis, and benefits from such developments; the proceedings initiated by Bazelet and its results and the Company’s expectation to drive long-term value for patients and shareholders; its continued growth, expected operations and financial results, business strategy, competitive strengths, goals and expansion into major markets worldwide; the impact of the ongoing conflict in Israel and regional geopolitical conditions, the Company’s ability to obtain additional compensation from Israeli authorities, . Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond InterCure’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to: changes in general economic, business and political conditions, changes in applicable laws, the U.S. regulatory landscape and enforcement related to cannabis, changes in public opinion and perception of the cannabis industry, and reliance on the expertise and judgment of our senior management. More detailed information about the risks and uncertainties affecting us is contained under the heading “Risk Factors” included in the Company’s most recent Annual Report on Form 20-F, as well as in the Company’s Report of Foreign Private Issuer on Form 6-K containing the unaudited condensed consolidated financial statements for the six months ended June 30, 2025, and in other filings that we have made and may make with the Securities and Exchange Commission in the future. Company Contact: InterCure Ltd. Amos Cohen, Chief Financial Officer [email protected]

The Company reports NIS 130 million in revenue and NIS 12 million in positive operating cash flow, demonstrating resilience and sustained profitability with its eleventh consecutive half of positive Adjusted EBITDA amidst ongoing recovery in Israel InterCure is encouraged by recent regulatory momentum in the U.S. and believes that it is well positioned to capitalize on evolving U.S. cannabis rescheduling, especially following its recent signing of an agreement to acquire ISHI NEW YORK and HERZLIYA, Oct. 08, 2025 (GLOBE NEWSWIRE) -- InterCure Ltd. (NASDAQ: INCR) (TASE: INCR) (“InterCure” or the “Company”), today announced its financial and operating results for the first half of 2025. Alexander Rabinovitch, CEO of InterCure, stated: “In the first half of 2025, InterCure delivered revenues of NIS 130 million, achieving positive Adjusted EBITDA for the eleventh consecutive half year period and generating NIS 12 million in positive operating cash flow. This performance underscores the strength of our vertically integrated business model and our ability to navigate a challenging environment, including the impact of the October 7 attack and the ongoing war in Gaza. We continue to work closely with Israeli authorities to secure full compensation for damages to our southern facility. Looking ahead, we are confident in our ability to continue our recovery growth trajectory, expanding our international footprint, and strengthen our leadership in the pharmaceutical cannabis industry, particularly with the strategic acquisition of ISHI, which positions us to capitalize on evolving opportunities in the global cannabis market. At the same time, we are closely monitoring regulatory developments in the U.S. regarding potential rescheduling of cannabis.” First Half 2025 Financial Highlights (All amounts are expressed in New Israeli Shekels (NIS), unless otherwise noted) Revenue of NIS 130 million, an increase of 15% compared to the second half of 2024, and an increase of 3% compared to NIS 126 million in the first half of 2024. Net loss of NIS 1.8 million, compared to near break-even in the first half of 2024. Adjusted EBITDA of NIS 12.6 million, representing 10% of revenue, marking the Company’s eleventh consecutive half of positive Adjusted EBITDA.1 Positive cash flow from operations of NIS 12 million, compared to negative cash flow of NIS 43 million in the same period last year. Cash on hand of NIS 54 million as of June 30, 2025, compared to NIS 21 million as of June 30, 2024.2 Shareholders’ equity of NIS 432 million as of June 30, 2025. Operational and Strategic Highlights As the recovery process progresses, the Company resumed production, importation and sales from the Nir Oz facility, delivering first batches since the October 7, 2023 attack and the ongoing war in Gaza. Launched more than 40 new SKUs during the first half of 2025, marking the first major product launches since October 2023. Received NIS 81 million in compensation advances from Israeli authorities for war-related damages, as part of a total submitted damages3 of NIS 251 million. Continued expansion of Canndoc’s medical cannabis pharmacy chain and growing global demand for InterCure’s pharmaceutical-grade cannabis products. In September 2025, the Company entered into a share purchase agreement to acquire Botanico Ltd. (ISHI), a strategic acquisition expected to strengthen InterCure’s access to premium U.S. genetics, advanced cultivation technologies, and international market opportunities. The Company is closely monitoring regulatory developments in the U.S. regarding potential rescheduling of cannabis and believes that it is well positioned to capitalize on evolving U.S. cannabis landscape, especially following its recent signing of an agreement to acquire ISHI. Under the purchase agreement with respect to ISHI, the Company obtained exclusive supply of premium products under The Flowery™ and leading American brands, which are expected to contribute tens of millions of shekels to the Company’s revenues. About InterCure (dba Canndoc) InterCure (dba Canndoc) (NASDAQ: INCR) (TASE: INCR) is the leading, profitable, and fastest growing cannabis company outside of North America. Canndoc, a wholly owned subsidiary of InterCure, is Israel’s largest licensed cannabis producer and one of the first to offer Good Manufacturing Practices (GMP) certified and pharmaceutical-grade medical cannabis products. InterCure leverages its market leading distribution network, best in class international partnerships and a high-margin vertically integrated “seed-to-sale” model to lead the fastest growing cannabis global market outside of North America. For more information, visit: https://www.intercure.co Non-IFRS Measures This press release makes reference to certain non-IFRS financial measures. Adjusted EBITDA, as defined by InterCure, means earnings before interest, income taxes, depreciation, and amortization, adjusted for changes in the fair value of inventory, share-based payment expense, impairment losses (and gains) on financial assets, and other income, net which included war-related damage compensation from the tax authorities, changes to allowance for credit risk, and impairment of inventory. This measure is not a recognized measure under IFRS, does not have a standardized meaning prescribed by IFRS and is therefore unlikely to be comparable to similar measures presented by other companies. InterCure’s method of calculating this measure may differ from methods used by other entities and accordingly, this measure may not be comparable to similarly titled measures used by other entities or in other jurisdictions. InterCure uses this measure because it believes it provides useful information to both management and investors with respect to the operating and financial performance of the Company. Forward-Looking Statements This press release contains forward-looking statements. Forward-looking statements may include, but are not limited to, the Company’s expected growth, including in Adjusted EBITDA, success of its global expansion plans, its expansion strategy to major markets worldwide, expected receipt of additional compensation from the Israeli government, and the expected completion of the acquisition of ISHI, as well as statements, other than historical facts, that address activities, events or developments that InterCure intends, expects, projects, believes or anticipates will or may occur in the future. These statements are often characterized by terminology such as “believes,” “hopes,” “may,” “anticipates,” “should,” “intends,” “plans,” “will,” “expects,” “estimates,” “projects,” “positioned,” “strategy” and similar expressions and are based on assumptions and assessments made in light of management’s experience and perception of historical trends, current conditions, expected future developments and other factors believed to be appropriate. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. Many factors could cause InterCure’s actual activities or results to differ materially from the activities and results anticipated in forward-looking statements, including, but not limited to, the following: the Company’s success in executing its global expansion plans (including the pending acquisition of Botanico Ltd. (ISHI)), its continued growth, expected operations and financial results, business strategy, competitive strengths, goals and expansion into major markets worldwide, the impact of the war in Israel and the war in Ukraine, and the conditions of the markets generally. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond InterCure’s control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to: changes in general economic, business and political conditions, changes in applicable laws, the U.S. regulatory landscape and enforcement related to cannabis, changes in public opinion and perception of the cannabis industry, and reliance on the expertise and judgment of our senior management. More detailed information about the risks and uncertainties affecting us is contained under the heading “Risk Factors” included in the Company’s most recent Annual Report on Form 20-F, as well as in the Company’s Form 6-K containing the unaudited condensed consolidated financial statements for the six months ended June 30, 2025, and in other filings that we have made and may make with the Securities and Exchange Commission in the future. Company Contact: InterCure Ltd. Amos Cohen, Chief Financial Officer [email protected] Investor Relations Contact: Arx Investor Relations North American & Israeli Equities Desks [email protected] Condensed Consolidated Interim Statements of Financial Position (Unaudited) As of June 30, 2025 Condensed Consolidated Interim Statements of Profit or Loss and Other Comprehensive Income (Unaudited) Non-IFRS Financial Measures For More Financial Information: For a comprehensive understanding of the Company’s financial reports and related management’s discussion and analysis for applicable periods, please review the Company’s annual report on Form 20-F for the fiscal year ended December 31, 2024, and the Company’s Form 6-K containing the unaudited condensed consolidated financial statements for the six months ended June 30, 2025, both available on the Company’s EDGAR profile at https://www.sec.gov/edgar 1 Adjusted EBITDA means net income (loss) before interest, taxes, depreciation and amortization adjusted for changes in the fair value of inventory, share-based payment expense, impairment losses (and gains) on financial assets, and other expenses (or income). Other income, net includes war-related damage compensation from the tax authorities, changes to allowance for credit risk and impairment of inventory. 2 Including restricted cash and deposits. 3 The claim is not final and remains subject to adjustment. The total amount claimed may be increased as further information becomes available. A previous version of this release included the same bullet twice. This has been corrected in this version. No other information has changed.

2024 results were affected by damages to our southern facility caused by the terrorist attack on October 7, 2023, and the continued war in Gaza. InterCure is entitled to full compensation from the Israeli authorities for all direct and indirect damages caused to the southern facility. InterCure received NIS 62 million until December 31, 2024 (to date, NIS 82 million) as partial advanced payments from the Israeli authorities and expects to receive additional substantial payments. Revenues in 2024 reached NIS 239 million, alongside an Adjusted EBITDA[1] of NIS 24 million (approximately 10% of revenues). InterCure announced expansion of its strategic partnership with Cookies™ to Germany and expects to launch first Cookies products in Germany during the upcoming months. The second half of 2024 ended with positive Adjusted EBITDA[1] and represents InterCure's eighteenth and nineteenth consecutive quarters of profitability[1]. The Company's cash[2] on hand was NIS 80 million. Q1 2025 Update Strong start to 2025, with expected sequential growth of over 25% to over NIS 70 million for‏ Q1 2025 with positive Adjusted EBITDA[1]. Expects continued double-digit ‏growth throughout 2025. Completed funding of NIS 66 million and received additional NIS 20 million from the Israeli authorities to support the Nir Oz Facility recovery. Restoring the southern facility continues at full force, enables the Company to return to profitable growth, including exercising the cookies agreement and expanding international operations in Germany, the UK, and beyond. First launches since October 2023 of over 20 SKU's including the first Nir Oz products while experiencing solid global demand for CANNDOC products. To meet up with the global demand InterCure promoting a significant development and expanding of the Nir Oz Facility in collaboration with "Tkumah" administration and other authorities in Israel. NEW YORK & HERZLIYA, Israel, May 1, 2025 /PRNewswire/ -- InterCure Ltd. (Nasdaq: INCR) (TASE: INCR) ("InterCure" or the "Company") today announced results for the full year ended December 31, 2024. All amounts are expressed in New Israeli Shekels (NIS), unless otherwise noted. FY2024 Financial Highlights and Milestones Annual revenue for the year ended December 31, 2024 was NIS 239 million, and the Adjusted EBITDA[1] for the year ended December 31, 2024 was NIS 24 million, approximately 10% of revenues. H2/2024 represents the eighteenth and nineteenth consecutive quarters of profitability[1]. Due to the location of the Company's Nir Oz facility, InterCure is entitled to full compensation from the Israeli authorities for all direct and indirect damages caused to the southern facility in Nir Oz. InterCure received NIS 62 million until December 31, 2024 (to date, NIS 82 million) as partial advanced payments from the Israeli authorities and expects to receive additional substantial payments to cover war related damages. The Company ended 2024 with cash[2] on hand of NIS 80 million. Expands its European footprint with new strategic agreements with Cookies™. Enhancing branded product offerings with the most-recognized global cannabis brand and expects to launch Cookies Corners licensed pharmacies in Germany and UK, alongside differentiated online platforms with the official cookies retail experience. Continued expansion of the Company's dedicated medical cannabis pharmacy chain to a of total 25 active locations as of today. The Company holds 100% of Cannolam LTD including the full rights to Cookies™ international agreements, alongside Israel's largest chain of dedicated medical cannabis pharmacies, Givol™ and Leon Pharm. Secured Funding of NIS 66 million to support the recovery of Nir Oz Facility. The funding may increase to NIS 107 million to support the expansion of the facility in collaboration with the "Tkumah" administration. The funding includes investments from key shareholders of the company, including our Chief Executive Officer ("CEO") and Chairman, Alexander Rabinovich. After the October 7th, 2023 terrorist attack effects on revenues and operations in 2024, the Company expects to resume sequential quarterly growth during 2025. As the restoration of the Nir Oz facility continues in full force, CANNDOC resume launching during 2025 with a pipeline of over 80 GMP SKUs, including Cookies, Binske and new brands, expanding Company's branded products portfolio. Alexander Rabinovich, CEO and Chairman of InterCure noted: "Despite the unprecedented challenges we faced in 2024, including the impact of the October 7th attack on our Nir Oz facility and ongoing war in Gaza, InterCure remained resilient, generating revenues with positive Adjusted EBITDA[1], and focused on growth. Following the successful completion of our NIS 66 million funding, we are accelerating the recovery of our Nir Oz facility and have already resumed product launches from the site. As we enter 2025, we are seeing strong demand across our global markets and are confident in our ability to continue delivering double-digit growth, expand our international operations, and lead the Pharmaceutical cannabis industry forward. We remain hopeful for a swift resolution to the ongoing war and the safe return of all hostages, including our employee and dear friends from the surrounding of the Gaza Strip. We are committed to playing a meaningful role in the region's recovery and rebuilding efforts in the aftermath of these tragic events. InterCure is thankful to its managers and employees for their commitment and to its strategic partners in Israel and worldwide who stand with us during this time of war." About InterCure (dba Canndoc) InterCure (dba Canndoc) (NASDAQ: INCR) (TASE: INCR) is the leading, profitable, and fastest growing cannabis company outside of North America. Canndoc, a wholly owned subsidiary of InterCure, is Israel's largest licensed cannabis producer and one of the first to offer Good Manufacturing Practices (GMP) certified and pharmaceutical-grade medical cannabis products. InterCure leverages its market leading distribution network, best in class international partnerships and a high-margin vertically integrated "seed-to-sale" model to lead the fastest growing cannabis global market outside of North America. For more information, visit: https://www.intercure.co Non-IFRS Measures This press release makes reference to certain non-IFRS financial measures. Adjusted EBITDA, as defined by InterCure, means earnings before interest, income taxes, depreciation, and amortization, adjusted for changes in the fair value of inventory, share-based payment expense, impairment losses (and gains) on financial assets, non-controlling interest and other expenses (or income). This measure is not a recognized measure under IFRS, does not have a standardized meaning prescribed by IFRS and is therefore unlikely to be comparable to similar measures presented by other companies. InterCure's method of calculating this measure may differ from methods used by other entities and accordingly, this measure may not be comparable to similarly titled measured used by other entities or in other jurisdictions. InterCure uses this measure because it believes it provides useful information to both management and investors with respect to the operating and financial performance of the Company. Forward-Looking Statements This press release contains forward-looking statements. Forward-looking statements may include, but are not limited to, the Company's expected growth in Adjusted EBITDA[1] success of its global expansion plans, its expansion strategy to major markets worldwide, statements relating to the security events in Israel, as well as statements, other than historical facts, that address activities, events or developments that InterCure intends, expects, projects, believes or anticipates will or may occur in the future. These statements are often characterized by terminology such as "believes," "hopes," "may," "anticipates," "should," "intends," "plans," "will," "expects," "estimates," "projects," "positioned," "strategy" and similar expressions and are based on assumptions and assessments made in light of management's experience and perception of historical trends, current conditions, expected future developments and other factors believed to be appropriate. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in such statements. Many factors could cause InterCure's actual activities or results to differ materially from the activities and results anticipated in forward-looking statements, including, but not limited to, the following: the Company's success of its global expansion plans, its continued growth, the expected operations, financial results business strategy, competitive strengths, goals and expansion and growth plans, expansion strategy to major markets worldwide, the impact of the COVID-19 pandemic, the impact of the war in Israel and the war in Ukraine and the conditions of the markets generally. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond InterCure's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to: changes in general economic, business and political conditions, changes in applicable laws, the U.S. regulatory landscapes and enforcement related to cannabis, changes in public opinion and perception of the cannabis industry, and reliance on the expertise and judgment of our senior management. More detailed information about the risks and uncertainties affecting us is contained under the heading "Risk Factors" included in the Company's most recent Annual Report on Form 20-F and in other filings that we have made and may make with the Securities and Exchange Commission in the future. Contacts InterCure Ltd. Amos Cohen, Chief Financial Officer [email protected] [1] "Adjusted EBITDA" means EBITDA for cannabis sector adjusted for changes in the fair value of inventory, share-based payment expense, impairment losses (and gains) on financial assets, and other expenses (or income); "EBITDA" means net income (loss) before interest, taxes, depreciation and amortization. [2] Including NIS 2 million in restricted cash. Logo: https://mma.prnewswire.com/media/2585916/5088566/InterCure_Logo.jpg View original content:https://www.prnewswire.com/news-releases/intercure-announces-fy2024-results-and-provides-q1-2025-update--revenue-of-nis-239-million-and-adjusted-ebitda-of-nis-24-million--strong-start-to-2025-302444433.html SOURCE InterCure Ltd.