<SEC-DOCUMENT>0001104659-22-034457.txt : 20220316
<SEC-HEADER>0001104659-22-034457.hdr.sgml : 20220316
<ACCEPTANCE-DATETIME>20220316161009
ACCESSION NUMBER:		0001104659-22-034457
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20220316
FILED AS OF DATE:		20220316
DATE AS OF CHANGE:		20220316

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ZIM Integrated Shipping Services Ltd.
		CENTRAL INDEX KEY:			0001654126
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			L3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-39937
		FILM NUMBER:		22744976

	BUSINESS ADDRESS:	
		STREET 1:		9 ANDREI SAKHAROV STREET
		STREET 2:		P.O. BOX 15067
		CITY:			HAIFA
		STATE:			L3
		ZIP:			3190500
		BUSINESS PHONE:		972 (4) 865-2000

	MAIL ADDRESS:	
		STREET 1:		9 ANDREI SAKHAROV STREET
		STREET 2:		P.O. BOX 15067
		CITY:			HAIFA
		STATE:			L3
		ZIP:			3190500
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>tm229377-1_6k.htm
<DESCRIPTION>6-K
<TEXT>
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          <font style="letter-spacing:-0.36pt;">UNITED STATES </font>
          <br >
          <font style="letter-spacing:-0.36pt;">SECURITIES AND EXCHANGE COMMISSION </font>
          <br >
          <font style="font-size:10pt;letter-spacing:-0.2pt;">Washington, D.C. 20549</font><font style="font-weight:normal;letter-spacing:0.36pt;"> </font>
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          <font style="letter-spacing:-0.36pt;">FORM 6-K</font><font style="font-weight:normal;letter-spacing:0.36pt;"> </font>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:13.5pt;font-weight:bold;font-size:12pt;">
          <font style="letter-spacing:-0.24pt;">REPORT OF FOREIGN PRIVATE ISSUER </font>
          <br >
          <font style="letter-spacing:-0.24pt;">PURSUANT TO RULE 13a-16 OR 15d-16 OF THE </font>
          <br >
          <font style="letter-spacing:-0.24pt;">SECURITIES EXCHANGE ACT OF 1934</font><font style="font-weight:normal;letter-spacing:0.24pt;"> </font>
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          <font style="letter-spacing:0.2pt;">For the month of March, 2022 </font>
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          <font style="letter-spacing:-0.2pt;">Commission File Number: 001-39937</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="font-weight:bold;letter-spacing:-0.36pt;">ZIM Integrated Shipping Services Ltd.</font><font style="letter-spacing:0.36pt;"> </font>
          <br >
          <font style="font-size:8pt;letter-spacing:0.16pt;">(</font><font style="font-style:italic;font-size:8pt;letter-spacing:0.16pt;">Exact Name of Registrant as Specified in Its Charter</font><font style="font-size:8pt;letter-spacing:0.16pt;">)</font><font style="letter-spacing:0.36pt;"> </font>
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          <font style="letter-spacing:-0.2pt;">9 Andrei Sakharov Street </font>
          <br >
          <font style="letter-spacing:-0.2pt;">P.O. Box 15067 </font>
          <br >
          <font style="letter-spacing:-0.2pt;">Matam, Haifa 3190500, Israel </font>
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          <font style="letter-spacing:-0.2pt;">+972 (4)&#160;865-2000 </font>
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          <font style="letter-spacing:0.16pt;">(Address of principal executive office)</font><font style="font-style:normal;font-size:10pt;">&#8203;<font style="letter-spacing:0.2pt;"> </font></font>
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        <div style="margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: </font>
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                <font style="letter-spacing:0.2pt;">Form 20-F&nbsp;&nbsp;&nbsp;&#9746; </font>
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            <td style="padding:0pt; width:11.82pt;">&#8203;</td>
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                <font style="letter-spacing:0.2pt;">Form 40-F&nbsp;&nbsp;&nbsp;&#9744;</font>
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        <div style="margin-top:7.8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation&#160;S-T Rule&#160;101(b)(1): </font>
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              <font style="letter-spacing:0.2pt;">Yes&nbsp;&nbsp;&nbsp;&#9744; </font>
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            <td style="padding:0pt; width:33.8pt;">&#8203;</td>
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              <font style="letter-spacing:0.2pt;">No&nbsp;&nbsp;&nbsp;&#9746;</font>
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        <div style="margin-top:7.8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation&#160;S-T Rule&#160;101(b)(7): </font>
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          <font style="letter-spacing:0.2pt;">ZIM Integrated Shipping Services Ltd. (hereinafter, the &#8220;Company&#8221;) announces that it will hold a special general meeting of shareholders (the &#8220;Meeting&#8221;) on April&#160;25, 2022, at 11:00&#160;a.m. Israel time, at the Company&#8217;s offices at 9 Andrei Sakharov Street, Haifa, Israel. </font>
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          <font style="letter-spacing:0.2pt;">The Company hereby furnishes the following documents hereto as Exhibits&#160;99.1 and 99.2, respectively: </font>
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          <font style="letter-spacing:0.2pt;">i.</font>
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          <font style="letter-spacing:0.2pt;">Notice and Proxy Statement, each dated March&#160;16, 2022, with respect to the Meeting, describing the proposal to be voted upon at the Meeting, the procedure for voting in person or by proxy at the Meeting and other details related to the Meeting. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">ii.</font>
          <br >
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        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Proxy Card whereby holders of the Company&#8217;s ordinary shares may vote at the Meeting without attending in person. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">The information in this Form 6-K (including Exhibits&#160;99.1 and 99.2) shall not be deemed &#8220;filed&#8221; for purposes of Section&#160;18 of the Securities Exchange Act of 1934 (the &#8220;Exchange Act&#8221;) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act. </font>
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          <div style="margin-left: 0pt; width: 456pt; margin-top: 10.3100000000001pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
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          <div style="margin-left: 0pt; width: 456pt; margin-top: 2.79999999999995pt; font-size: 2pt; line-height: 0pt; border-bottom: 2pt solid #000000; ">&#8203;</div>
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">&#8203;</div>
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        <div style="margin-top:17pt; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
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          <font style="letter-spacing:-0.2pt;">SIGNATURES</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. </font>
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          <font style="letter-spacing:-0.2pt;">ZIM INTEGRATED SHIPPING SERVICES LTD.</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">By:</font>
          <br >
        </div>
        <div style=" margin-top:12pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:240pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">/s/ Noam Nativ </font>
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          <div style="margin-left: 0pt; width: 216pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
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        <div style="margin-left:240pt; margin-top:2pt; width:216pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">Noam Nativ </font> <br ><font style="letter-spacing:0.2pt;">EVP General Counsel and Corporate Secretary</font></div>
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          <font style="letter-spacing:0.2pt;">Date: March&#160;16, 2022</font>
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      <div style="margin-top:2.00000000000002pt;margin-bottom:35.86pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <hr >
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">&#8203;</div>
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        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
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          <br >
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        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">EXHIBIT INDEX</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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                  <font style="letter-spacing:-0.16pt;">EXHIBIT NO. </font>
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              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
              <td style="padding:0pt;border-bottom:1px solid #FFFFFF; width:6pt;">&#8203;</td>
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                  <font style="letter-spacing:-0.16pt;">DESCRIPTION </font>
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              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:3.25pt 0pt 1.5pt 0pt; width:391pt;text-align:left;">
                <a style="-sec-extract:exhibit" href="tm229377d1_exa99x1.htm">Notice and Proxy Statement, each dated March&#160;16, 2022, in connection with the Meeting</a>
              </td>
              <td style="padding:0pt; width:0pt;">&#8203;</td>
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                  <font style="letter-spacing:0.2pt;">99.2 </font>
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              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:0pt; width:6pt;">&#8203;</td>
              <td style="padding:3.5pt 0pt 1.5pt 0pt; width:391pt;text-align:left;">
                <div style="letter-spacing:0.2pt;">
                  <a style="-sec-extract:exhibit" href="tm229377d1_exa99x2.htm">Proxy card for use in connection with the Meeting</a>
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              <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <br >
        </div>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm229377d1_exa99x1.htm
<DESCRIPTION>EX-99.1
<TEXT>
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    <title>tm229377-1_6k_DIV_04-exhibit99d1 - none - 5.2500146s</title>
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          <font style="letter-spacing:-0.2pt;">Exhibit 99.1</font>&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:16pt;font-weight:bold;font-size:14pt;">
          <font style="letter-spacing:-0.28pt;">ZIM INTEGRATED SHIPPING SERVICES LTD. </font>
        </div>
        <div style="margin-top:2pt; text-align:center; width:456pt; line-height:10pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">9 Andrei Sakharov Street </font>
          <br >
          <font style="letter-spacing:-0.2pt;">P.O. Box 15067 </font>
          <br >
          <font style="letter-spacing:-0.2pt;">Matam, Haifa 3190500, Israel </font>
          <br >
          <font style="letter-spacing:-0.2pt;">+972 (4)&#160;865-2000 </font>
        </div>
        <div style="margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Dear Shareholder, </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">You are cordially invited to attend the Extraordinary General Meeting of Shareholders of ZIM Integrated Shipping Services Ltd. (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Company</font><font style="letter-spacing:0.2pt;">&#8221;) to be held at 11:00a.m., Israel time, on Monday, April&#160;25, 2022, at the Company&#8217;s offices at 9 Andrei Sakharov Street, Haifa, Israel. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The purpose of this meeting is set forth in the accompanying Notice of Meeting and Proxy Statement. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">For the reasons set forth in the accompanying Proxy Statement, the Company&#8217;s board of directors recommends that you vote &#8220;FOR&#8221; Proposals No. 1 through 3, as specified on the enclosed form of proxy. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">We look forward to greeting personally those shareholders who are able to be present at the meeting. However, whether or not you plan to attend the meeting, it is important that your shares be represented. Accordingly, you are kindly requested to sign, date and mail the enclosed proxy in the envelope provided at your earliest convenience so that it will be received not later than two business days before the meeting. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Thank you for your continued cooperation. </font>
        </div>
        <div style="margin-left:220pt; margin-top:8pt; width:236pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Very truly yours, </font>
        </div>
        <div style="margin-left:220pt; margin-top:8pt; width:236pt; line-height:12pt;font-weight:bold;">
          <font style="text-transform:uppercase;letter-spacing:-0.2pt;">Y<font style="font-size:7pt;">air</font> S<font style="font-size:7pt;">eroussi</font></font><font style="letter-spacing:-0.2pt;">, </font>
          <br >
          <font style="font-style:italic;letter-spacing:-0.2pt;">Chairman of the Board of Directors</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Haifa, Israel </font> <br ><font style="letter-spacing:0.2pt;">March&#160;16, 2022 </font></div>
        <table style="width:456pt;height:59pt;margin-top:10pt;border-collapse: collapse;border:0.75pt solid #000000; font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <tr style="line-height:12pt;min-height:58pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="width:0.25pt;padding:0pt;font-size:0pt;line-height:0pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:0.75pt solid #000000; ; width:3pt;">&#8203;</td>
            <td style="border-bottom:0.75pt solid #000000; ;padding:4.167pt 0pt 6pt 0pt; width:450pt;">
              <font style="letter-spacing:-0.2pt;">AS A FOREIGN PRIVATE ISSUER, WE ARE EXEMPT FROM THE RULES UNDER THE SECURITIES EXCHANGE ACT RELATED TO THE FURNISHING AND CONTENT OF PROXY STATEMENTS. THE CIRCULATION OF THIS PROXY STATEMENT SHOULD NOT BE TAKEN AS AN ADMISSION THAT WE ARE SUBJECT TO THOSE PROXY RULES.</font>
            </td>
            <td style="padding:0pt;border-bottom:0.75pt solid #000000; ; width:3pt;">&#8203;</td>
            <td style="width:0.25pt;padding:0pt;font-size:0pt;line-height:0pt;">&#8203;</td>
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        </table>
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      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">i</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">&#8203;</div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      <div style="margin-top:6pt;margin-bottom:34pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:16pt;font-weight:bold;font-size:14pt;">
          <font style="letter-spacing:-0.28pt;">ZIM INTEGRATED SHIPPING SERVICES LTD. </font>
        </div>
        <div style="margin-top:2pt; text-align:center; width:456pt; line-height:10pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">9 Andrei Sakharov Street</font>
          <br >
          <font style="letter-spacing:-0.2pt;">P.O. Box 15067</font>
          <br >
          <font style="letter-spacing:-0.2pt;">Matam, Haifa 3190500, Israel</font>
          <br >
          <font style="letter-spacing:-0.2pt;">+972 (4)&#160;865-2000 </font>
        </div>
        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">NOTICE OF EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS</font><font style="font-weight:normal;font-size:14pt;">&#8203;<font style="letter-spacing:0.28pt;"> </font></font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Notice is hereby given that an Extraordinary General Meeting of Shareholders (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Meeting</font><font style="letter-spacing:0.2pt;">&#8221;) of ZIM Integrated Shipping Services Ltd. (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Company</font><font style="letter-spacing:0.2pt;">&#8221;) will be held at 11:00a.m., Israel time, on Monday, April&#160;25, 2022, at the Company&#8217;s offices at 9 Andrei Sakharov Street, Haifa, Israel, for the following purposes: </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">1.</font><font style="font-weight:bold;letter-spacing:-0.2pt;"> </font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;To approve the Company&#8217;s amended and restated compensation policy. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">2.</font><font style="font-weight:bold;letter-spacing:-0.2pt;"> </font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;To approve an equity compensation grant to the Company&#8217;s directors, subject to the approval of Proposal No. 1. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">3.</font><font style="font-weight:bold;letter-spacing:-0.2pt;"> </font><font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;To approve an equity compensation grant to the Company&#8217;s CEO, Eli Glickman, subject to the approval of Proposal No. 1. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In addition, shareholders may present proposals for consideration at the Meeting by submitting their proposals to the Company no later than Wednesday, March&#160;23, 2022. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Finally, the shareholders may consider and act upon such other business as may properly come before the Meeting and any adjournment thereof. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Only shareholders of record at the close of the trading day of Monday, March&#160;28, 2022, are entitled to notice of, and to vote at, the Meeting and any adjournment thereof. All shareholders are cordially invited to attend the Meeting in person. Shareholders who are unable to attend the Meeting in person are requested to complete, date and sign the enclosed form of proxy and return it promptly in the pre-addressed envelope provided. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Your proxy may be revoked at any time before it is voted by you returning a later-dated proxy card or by voting your shares in person at the Meeting. Shareholders who hold their shares in &#8220;street name&#8221;, meaning in the name of a bank, broker or other record holder, must either direct the record holder of their shares on how to vote their shares or obtain a legal proxy from the record holder to vote the shares at the Meeting on behalf of the record holder together with a proof of such record holder with respect to the holding of the shares on the record date. You should follow the directions provided by your broker or nominee regarding how to instruct them to vote your shares. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Joint holders of shares should note that, pursuant to the articles of association of the Company, the vote of the senior of joint holders of any share who votes such share, whether in person or by proxy, will be accepted to the exclusion of the vote(s) of the other registered holder(s) of such share, and for this purpose seniority will be determined by the order in which the names of the joint holders appear in the Company&#8217;s register of shareholders. The appointment of a proxy to vote shares held by joint holders shall be executed by the signature of the senior of the joint holders on the proxy card. </font>
        </div>
        <div style="margin-left:220pt; margin-top:8pt; width:236pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">By Order of the Board of Directors, </font>
        </div>
        <div style="margin-left:220pt; margin-top:8pt; width:236pt; line-height:12pt;font-weight:bold;">
          <font style="text-transform:uppercase;letter-spacing:-0.2pt;">Y<font style="font-size:7pt;">air</font> S<font style="font-size:7pt;">eroussi</font></font><font style="letter-spacing:-0.2pt;">, </font>
          <br >
          <font style="font-style:italic;letter-spacing:-0.2pt;">Chairman of the Board of Directors</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Haifa, Israel</font> <br ><font style="letter-spacing:0.2pt;">March&#160;16, 2022 </font></div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">ii</font>
          <br >
        </div>
      </div>
      <hr >
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">&#8203;</div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:16pt;font-weight:bold;font-size:14pt;">
          <font style="letter-spacing:-0.28pt;">ZIM INTEGRATED SHIPPING SERVICES LTD. </font>
        </div>
        <div style="margin-top:2.1pt; text-align:center; width:456pt; line-height:10pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">9 Andrei Sakharov Street </font>
          <br >
          <font style="letter-spacing:-0.2pt;">P.O. Box 15067 </font>
          <br >
          <font style="letter-spacing:-0.2pt;">Matam, Haifa 3190500, Israel </font>
          <br >
          <font style="letter-spacing:-0.2pt;">+972 (4)&#160;865-2000 </font>
        </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:14pt;font-weight:bold;font-size:12pt;">
          <font style="letter-spacing:-0.24pt;">PROXY STATEMENT</font><font style="font-weight:normal;letter-spacing:0.24pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">This Proxy Statement is being furnished to the holders of Ordinary Shares, no nominal value (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Shares</font><font style="letter-spacing:0.2pt;">&#8221;), of ZIM Integrated Shipping Services Ltd. (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Company</font><font style="letter-spacing:0.2pt;">&#8221;) in connection with the solicitation of proxies by the management and board of directors of the Company (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Board of Directors</font><font style="letter-spacing:0.2pt;">&#8221;) for use at the Extraordinary General Meeting of Shareholders (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Meeting</font><font style="letter-spacing:0.2pt;">&#8221;) to be held at 11:00a.m., Israel time, on Monday, April&#160;25, 2022, at the Company&#8217;s offices at 9 Andrei Sakharov Street, Haifa, Israel, or at any adjournment thereof, pursuant to the accompanying notice of meeting (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Notice</font><font style="letter-spacing:0.2pt;">&#8221;). </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">At the Meeting, the shareholders will be asked to consider and vote on the following matters: </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">1.&nbsp;&nbsp;&nbsp;To approve the Company&#8217;s amended and restated compensation policy. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">2.&nbsp;&nbsp;&nbsp;To approve an equity compensation grant to the Company&#8217;s directors, subject to the approval of Proposal No. 1. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">3.&nbsp;&nbsp;&nbsp;To approve an equity compensation grant to the Company&#8217;s CEO, Eli Glickman, subject to the approval of Proposal No. 1. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">In addition, shareholders may present proposals for consideration at the Meeting by submitting their proposals to the Company no later than Wednesday, March&#160;23, 2022. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Finally, the shareholders may consider and act upon such other business as may properly come before the Meeting and any adjournment thereof. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Currently, we are not aware of any other matters that will come before the Meeting. If any other matters properly come before the Meeting, the persons designated as proxies intend to vote in accordance with their best judgment on such matters. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The approval of Proposals No. 1 and 3 requires the affirmative vote of a majority of the shareholders participating in the voting at the Meeting in person or by proxy; provided, that (i)&#160;such majority vote at the General Meeting shall include a majority of the total votes of shareholders participating in the voting at the General Meeting in person or by proxy who (a)&#160;are not controlling shareholders (for a definition of controlling shareholders, see below) of the Company or (b)&#160;do not have a personal interest in the approval of the proposal (votes abstaining shall not be taken into account in counting the above-referenced shareholders&#8217; votes); or (ii)&#160;the total number of ordinary shares of the shareholders mentioned in clause (i)&#160;above that are voted against such proposal does not exceed two&#160;percent (2%) of the total voting rights in the Company. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The approval of Proposal No. 2 requires the affirmative vote of a majority of the votes of shareholders present and participating at the Meeting in person, by an appointment instrument or by a voting instrument entitled to vote and voting at the meeting, provided, that (i)&#160;such majority vote shall include a majority of the total votes of shareholders participating in the voting at the Meeting in person by an appointment instrument or by a voting instrument who do not have a personal interest in the approval of the proposal (votes abstaining shall not be taken into account in counting the above-referenced shareholders&#8217; votes); or (ii)&#160;the total number of Shares of the shareholders mentioned in clause (i)&#160;above that are voted against such proposal does not exceed two&#160;percent (2%) of the total voting rights in the Company. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Under the Israeli Companies Law of 1999 (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Companies Law</font><font style="letter-spacing:0.2pt;">&#8221;), each shareholder that attends the Meeting in person shall, prior to exercising such shareholder&#8217;s voting rights at the Meeting, advise the Company whether or not that shareholder is a controlling shareholder of the Company and whether or not that shareholder has a personal interest (as defined herein) with respect to the approval of Proposals No. 1 through 3 on the agenda. Each shareholder that delivers a signed proxy to the Company must indicate on the proxy whether or not that shareholder is a controlling shareholder of the Company and whether or </font>
        </div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">1</font>
          <br >
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      <hr >
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">&#8203;</div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-bottom:124pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">not that shareholder has a personal interest (as defined herein) with respect to the approval of Proposals No. 1 through 3 on the agenda. Shareholders who do not so indicate will not be eligible to vote their shares as to Proposals No. 1 through 3. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Companies Law defines a &#8220;personal interest&#8221; as a personal interest of a person in an act or transaction of a company, including: </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(i)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">a personal interest of that person&#8217;s relative (</font><font style="font-style:italic;letter-spacing:0.2pt;">i.e.</font><font style="letter-spacing:0.2pt;"> spouse, sibling, parent, grandparent, child, child sibling and parent of such person&#8217;s spouse or the spouse of any of the above); or </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(ii)</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">a personal interest of another entity in which that person or his or her relative (as defined above) holds 5% or more of such entity&#8217;s issued shares or voting rights, has the right to appoint a director or the chief executive officer of such entity, or serves as director or chief executive officer of such entity. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">A personal interest resulting merely from holding a company&#8217;s shares will not be deemed a personal interest. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The term &#8220;controlling shareholder&#8221; shall carry the meaning ascribed to it in the Companies Law and shall mean a person&#8217;s ability to direct a company&#8217;s business, unless such ability stems only from the service as a director or from another position in the company, and there is a presumption that a person is controlling a company if such person holds 50% or more of a certain type of means of control in the company. For this purpose, &#8220;Means of Control&#8221; shall mean any of the below: (i)&#160;voting rights in the company&#8217;s general meeting or in an equivalent body of another corporation; (ii)&#160;the right to appoint the company&#8217;s directors or its chief executive officers. For the purpose of Proposal No. 3 only, the term &#8220;controlling shareholder&#8221; shall also include a holder of 25% or more of the voting rights in a company if there is no other holder holding more than 50% of the voting rights in the company. For the purpose of the term &#8220;holding&#8221; two or more persons holding voting rights in a company while each of them has a personal interest in the approval of the same transaction brought for the approval of the company shall be deemed as joint holders. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Each Share is entitled to one vote upon each matter to be voted on at the Meeting. No less than two shareholders present in person or by proxy, or who have sent the Company a voting instrument indicating the way in which they are voting and holding or representing at least thirty-three and one third&#160;percent (33.33%) of the voting rights in the Company, shall constitute a quorum. If no quorum is present within half an hour from the time appointed for the Meeting, the Meeting shall stand adjourned until the seventh day following the prescribed date of the meeting, (and if that day falls on a day other than a business day, on the next succeeding business day), at the same time and place without there being any further notice to that effect, or to such other date, time and place as will be determined by the Board of Directors by notice to the shareholders, and at the adjourned meeting, the business for which the original Meeting was convened, will be discussed. In the absence of a quorum at such adjourned meeting, a single shareholder at least (without reference to the number of shares that he holds) present personally or by proxy, will constitute a quorum. Notwithstanding the foregoing, if the meeting has been called at the request of a shareholder as stated in section 63(b)(2) of the Israeli Companies Law, a quorum at the adjourned meeting will be that required for convening such meeting. </font>
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      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">2</font>
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">&#8203;</div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">VOTING PROCEDURES; EXPRESSING POSITIONS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-left:20pt; margin-top:12pt; width:436pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Registered Shareholders</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Shareholders registered in the Company&#8217;s shareholders register (&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Registered Shareholders</font><font style="letter-spacing:0.2pt;">&#8221;) may vote their Shares by attending the Meeting and voting their Shares in person, or by completing the enclosed proxy card, signing and dating it and mailing it either in the enclosed postage prepaid envelop or to the Company&#8217;s offices. Registered Shareholders who vote their Shares by proxy must also provide the Company with a copy of their identity card, passport or certificate of incorporation, as the case may be. </font>
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        <div style="margin-left:20pt; margin-top:12pt; width:436pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Shareholders in &#8220;Street Name&#8221; whose Shares are held through CEDE &amp; Co.</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Shareholders who hold their Shares in &#8220;street name&#8221; meaning in the name of a bank, broker or other record holder, through CEDE &amp; Co., must either direct the record holder of their Shares how to vote their Shares or obtain a legal proxy from the record holder to vote at the Meeting on behalf of the record holder together with a proof of such record holder with respect to the holding of the Shares on the record date. You should follow the directions provided by your broker or nominee regarding how to instruct them to vote your shares. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Brokers or other nominees who hold Shares in &#8220;street name&#8221; for a beneficial owner of those Shares typically have the authority to vote in their discretion on &#8220;routine&#8221; proposals when they have not received instructions from beneficial owners. However, brokers are not allowed to exercise their voting discretion with respect to the election of directors or for the approval of certain &#8220;non-routine&#8221; matters, without specific instructions from the beneficial owner. These non-voted shares are referred to as &#8220;broker non-votes&#8221;. The Proposals on the agenda are considered non-routine matters. If you are a beneficial shareholder holding shares through a broker or other nominee and you do not submit instructions on how your shares should be voted, your broker or other nominee will not be able to vote your shares on the Proposals on the agenda. </font>
        </div>
        <div style="margin-left:20pt; margin-top:12pt; width:436pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Note for Shareholders Voting via Proxy Card</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Shareholders who vote their Shares via proxy card may use the form of proxy and the return envelope enclosed. Shares represented by executed and unrevoked proxies will be voted at the Meeting. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Shareholders may revoke their proxies at any time before the effective exercise thereof by returning a later-dated proxy card or by voting their Shares in person at the Meeting if the shareholders are the record holder of the Shares and can provide evidence of such (</font><font style="font-style:italic;letter-spacing:0.2pt;">i.e.</font><font style="letter-spacing:0.2pt;">, a copy of certificate(s) evidencing their Shares). If a shareholder&#8217;s proxy is not received by the Company by Monday, April&#160;25, 2022 at 7:00a.m., Israel time, it shall not be valid at the Meeting. Notwithstanding the aforesaid, each of the chairman of the Meeting or the Company&#8217;s Secretary may, at his or her discretion, accept proxies after such time if he or she so deems fit. </font>
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        <div style="margin-left:20pt; margin-top:12pt; width:436pt; line-height:12pt;font-style:italic;">
          <font style="letter-spacing:0.2pt;">Position Statements</font><font style="font-style:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Shareholders are permitted to express their position on the proposal on the agenda of the Meeting by submitting a written statement, through the Company, to the other shareholders (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Position Statement</font><font style="letter-spacing:0.2pt;">&#8221;). Position Statements should be submitted to the Company at its registered offices, at 9 Andrei Sakharov Street, Haifa, Israel, to the attention of Mr.&#160;Noam Nativ, General Counsel and Company Secretary of the Company, no later than Friday, April&#160;15, 2022. Reasonable costs incurred by the Company in dealing with a Position Statement shall be borne by the submitting shareholder. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Management and the Board of Directors are soliciting proxies for use at the Meeting. Proxies will be mailed to shareholders on or about March&#160;30, 2022, and will be solicited primarily by mail; however, additional solicitations may be made by telephone, facsimile or other means of contact by certain directors, officers, employees or agents of the Company, none of whom will receive additional compensation therefor. The entire expense of solicitation, including the cost of preparing, printing, assembling and mailing the proxy materials will be borne by the Company. The Company will also reimburse the reasonable expenses of brokerage firms and others for forwarding materials to beneficial owners of Shares. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">We currently intend to hold the Meeting in person. However, depending on developments with respect to the coronavirus (COVID-19) pandemic, we might hold the Meeting virtually on the above date and time </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">3</font>
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">&#8203;</div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">instead of in person. If we determine that a change to a virtual meeting format is advisable or required, an announcement of such change will be made on our Investor Relations website at https://investors.zim.com/</font>&#8203;<font style="letter-spacing:0.2pt;">overview/default.aspx and on Form 6-K as promptly as practicable. We encourage you to check this website one week prior to the meeting date if you are planning to attend the Meeting. </font></div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">OUTSTANDING SHARES AND VOTING RIGHTS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Company had 119,810,688 Shares outstanding as of March&#160;14, 2022. Each Share is entitled to one vote upon each proposal to be presented at the Meeting. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:-0.2pt;">Proposal No. 1</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">APPROVAL OF THE COMPANY&#8217;S AMENDED AND RESTATED COMPENSATION POLICY</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Under the Companies Law, a public company is required to adopt a compensation policy, which sets forth the terms of service and employment of the company&#8217;s directors and officers. Such compensation policy must comply with the requirements of the Companies Law. The compensation policy must be approved at least once every three&#160;years by the board of directors, after considering the recommendations of the compensation committee, and by the shareholders by a special majority. However, under the Israeli Companies Regulations (Relief Regarding the Obligation to Establish a Compensation Policy) of 2013, a compensation policy that was described in a company&#8217;s first public offering documents can be approved for a period of five (5)&#160;years from the date of the offering. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Company adopted a compensation policy, which came into effect upon the consummation of the Company&#8217;s initial public offering of its securities on the New York Stock Exchange. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Following review of the compensation structure of the Company, the Company&#8217;s compensation committee (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Compensation Committee</font><font style="letter-spacing:0.2pt;">&#8221;) and Board of Directors proposed certain changes to the Company&#8217;s compensation policy to ensure its adequacy and suitability to the Company&#8217;s financial position and results of operation Below is the list of the principal proposed changes: </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">(i)</font>
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        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Ability to provide equity compensation to the Company&#8217;s directors, including the principal terms and conditions of such compensation and determination that the maximum annual fair market value of equity compensation shall not exceed U.S. $100,000 for each director and U.S. $200,000 for the Chairman; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">(ii)</font>
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        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Increase of the maximum annual fair market value of equity compensation that may be granted to the Company&#8217;s CEO from 12 monthly salaries to 36 monthly salaries and for each of the other officers of the Company (excluding the CEO and directors) from 9 monthly salaries to 12 monthly salaries; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">(iii)</font>
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        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The maximum value of the total variable compensation of each officer out of the value of the total compensation package on an annual basis shall be shall 90% (instead of 80% currently). </font>
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          <font style="letter-spacing:0.2pt;">(iv)</font>
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        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Increase of maximum coverage under the Company&#8217;s Side A directors&#8217; and officers&#8217; liability insurance policies from $100&#160;million to $150&#160;million; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">(v)</font>
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        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Clarification with respect to the potential purchase of run-off directors&#8217; and officers&#8217; liability insurance policies that the coverage amount of $200&#160;million refers to the Standard Policy, or to the Side A Policy (as such terms are defined in the compensation policy), or to a combination thereof. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Accordingly, the Compensation Committee and Board of Directors recommended and approved the amended and restated compensation policy, a version of which, marked against the Company&#8217;s current compensation policy, is attached hereto as </font><font style=" text-decoration:underline #000000 solid;font-weight:bold;letter-spacing:-0.2pt;">Exhibit&#160;A</font><font style="letter-spacing:0.2pt;">. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The considerations which guided the Compensation Committee and Board of Directors in recommending and approving the amended and restated compensation policy were: promoting the Company&#8217;s interests, its work plan and policy from a long-term perspective considering, </font><font style="font-style:italic;letter-spacing:0.2pt;">inter alia</font><font style="letter-spacing:0.2pt;">, the Company&#8217;s risk management policy, the size and nature of the Company&#8217;s operations that have largely </font>
        </div>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">4</font>
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">&#8203;</div>
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        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
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      <div style="margin-top:6pt;margin-bottom:224pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">increased in recent&#160;years, and especially since the Company&#8217;s IPO, thus significantly increasing the burden on the management team, the understanding that an important portion of the Company&#8217;s future growth depends on the success of its ventures as a differentiator in a commoditized industry, and&#8201;&#8212;&#8201;with regard to terms of office and employment which include variable components&#8201;&#8212;&#8201;the officer&#8217;s contribution to achieving the Company&#8217;s objectives and to maximizing its earnings, all from the long-term perspective and in accordance with the officer&#8217;s role. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Compensation Committee and Board of Directors further considered; (a)&#160;the education, qualifications, expertise, professional experience and achievements of each officer; (b)&#160;the role of the officer, areas of responsibility and previous compensation agreements entered into with him; (c)&#160;the ratio between the terms of compensation of the officers as may be provided under the amended and restated compensation policy and the terms of compensation of other employees of the Company, considering also the average and median annual cost of the fixed component payable to all Company full time team members; (d)&#160;regarding terms of compensation that include variable components&#8201;&#8212;&#8201;the possibility of reducing the variable components at the discretion of the Board of Directors and the possibility to limit the exercise value of any equity based variable component; and (e)&#160;regarding retirement grants&#8201;&#8212;&#8201;the period of service and employment of the officer, the terms of such service and employment of the officer during such period, the Company&#8217;s performance during such period, the contribution of the officer in meeting the Company&#8217;s objectives and maximizing its earnings and the circumstances for the retirement. In light of all the above considerations, and having examined an external benchmark study, the Compensation Committee and Board of Directors determined that the terms of the amended and restated compensation policy are fair and reasonable and to the benefit of the Company and determined that the intra-company ratios presented do not negatively impact the work relations in the Company. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The amended and restated compensation policy shall be in effect until five (5)&#160;years from the date of the consummation of the Company&#8217;s initial public offering. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">It is proposed that the following resolution be adopted at the Meeting: </font>
        </div>
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          <tr style="line-height:12pt;min-height:48pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="width:0.25pt;padding:0pt;font-size:0pt;line-height:0pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:0.75pt solid #000000; ; width:8pt;">&#8203;</td>
            <td style="border-bottom:0.75pt solid #000000; ;padding:6.167pt 0pt 6pt 0pt; width:0pt;" colspan="4">
              <font style="letter-spacing:-0.2pt;">&#8220;RESOLVED, that the Company&#8217;s amended and restated compensation policy, attached hereto as </font><font style=" text-decoration:underline #000000 solid;letter-spacing:-0.2pt;">Exhibit&#160;A</font><font style="letter-spacing:-0.2pt;">, having been recommended by the Compensation Committee and approved by the Board of Directors, and as presented to the shareholders, be, and same hereby is, approved.&#8221;</font>
            </td>
            <td style="padding:0pt;border-bottom:0.75pt solid #000000; ; width:8pt;">&#8203;</td>
            <td style="width:0.25pt;padding:0pt;font-size:0pt;line-height:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-top:11.5pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">The Board of Directors recommends a vote FOR approval of this proposed resolution. </font>
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      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">5</font>
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">&#8203;</div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-bottom:6pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;font-weight:bold;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:-0.2pt;">Proposal No. 2</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">APPROVAL OF AN EQUITY COMPENSATION GRANT TO THE COMPANY&#8217;S DIRECTORS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Subject to the approval of Proposal No. 1, and following the approval of the Compensation Committee, Audit Committee (for reasons described herein) and Board of Directors, it is proposed to approve a grant of 13,459 options exercisable into up to 13,459 ordinary shares of the Company, no par value to each of the Company&#8217;s serving directors, other than to the Company&#8217;s Active Chairman, for whom it is proposed to grant 26,918 options exercisable into up to 26,918 ordinary shares of the Company, no par value each (in this Proposal No. 2, together, the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Options</font><font style="letter-spacing:0.2pt;">&#8221;). </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Options to each director constitute approximately 0.01% of the Company&#8217;s share capital, while the Options to the Active Chairman constitute approximately 0.02% of the Company&#8217;s share capital (approximately 0.01% and 0.02% of the share capital on a fully diluted basis, respectively</font><font style=" position:relative; bottom:4.25pt;font-size:7.5pt;letter-spacing:0.15pt;">(1)</font><font style="letter-spacing:0.2pt;">). </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Options will be granted under the Company&#8217;s 2020 Share Incentive Plan (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Plan</font><font style="letter-spacing:0.2pt;">&#8221;), and shall vest over a period of four&#160;years from their date of grant, with 25% of the Options vesting on the first anniversary of the date of grant, 25% of the Options vesting on the second anniversary of the date of grant, 25% of the Options vesting on the third anniversary of the date of grant and 25% of the Options vesting on the fourth anniversary of the date of grant. The exercise price of each Option is $68.37 per ordinary share, which is equal to the average closing price of the ordinary shares on the NYSE over the last 30 trading days prior to March&#160;8, 2022. The Options will be exercisable for five (5)&#160;years following the date of grant. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Upon the occurrence or in anticipation of (i)&#160;a consummation of a sale or disposition of all or substantially all of the assets of the Company and its Subsidiaries taken as a whole; (ii)&#160;a Change of Control (as defined in the Plan); or (iii)&#160;a resolution of the Company&#8217;s shareholders to approve a liquidation or dissolution of the Company (each such event or transaction, a &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Corporate Event</font><font style="letter-spacing:0.2pt;">&#8221;), the Options shall (to the extent not already vested) automatically accelerate and become fully vested and immediately exercisable and shall remain exercisable for a designated period to be determined by the Board of Directors and shall be automatically cancelled upon or immediately prior to the closing of the Corporate Event. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">All remaining terms of the Options are in accordance with the Plan, which includes conditions with respect to, among other things, adjustments, assumption and termination of engagement. The Plan can be found as Exhibit&#160;4.10 to the Company&#8217;s annual report on Form 20F for the year ended December&#160;31, 2021 (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Annual Report</font><font style="letter-spacing:0.2pt;">&#8221;). </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Reasoning of the Compensation Committee and Board of Directors for the grant of the Options</font><font style="letter-spacing:0.2pt;">: </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Compensation Committee and Board of Directors approved the proposed grant of the Options while noting the following: (a)&#160;the great contribution of the Company&#8217;s directors to the Company&#8217;s business operations and financial results; (b)&#160;the equity grant is intended to align the interests of each of the directors with those of the Company&#8217;s shareholders and create a link between their compensation and the performance of the Company&#8217;s ordinary shares; (c)&#160;external benchmark studies regarding directors&#8217; compensation schemes; and (d)&#160;subject to the approval of Proposal No. 1 above, that such grant is in line with the Company&#8217;s proposed amended and restated compensation policy. In light of all of the above, the Compensation Committee and the Board of Directors concluded that the proposed grant of Options is fair and reasonable and to the benefit of the Company. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">It is noted that the proposed grant of the Options is in addition to the cash compensation that each of the directors receives for their services as directors. For information on the compensation terms of the directors, see Item&#160;6.B of the Annual Report. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">It is further noted that certain of the Company&#8217;s directors are affiliated with Kenon Holdings Ltd., which is considered as the Company&#8217;s controlling shareholder for purposes of approving related party transactions. Accordingly, such grants were approved by the Audit Committee in addition to the approvals </font>
        </div>
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      <div style="margin-left:69.66pt;width:456pt;">
        <div style="width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
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        <div style=" float:left; margin-top:13pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style=" position:relative; bottom:4.25pt;font-size:7.5pt;letter-spacing:0.15pt;">(1)</font>
          <br >
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        <div style=" margin-top:12pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Calculated taking into account the exercise or conversion of all exercisable or convertible securities issued by the Company to date, including the proposed equity grants described in this Proxy Statement. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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      <div style="margin-top:1.94000000000005pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">6</font>
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Helvetica, Arial, sans-serif;font-size:9pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">&#8203;</div>
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        <div style="margin-top:17pt; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-bottom:468pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">of the Compensation Committee and the Board of Directors. As the grant to the directors affiliated with Kenon Holdings Ltd. is also subject to shareholder approval by a special majority, it is proposed that the equity compensation grant to </font><font style="font-weight:bold;letter-spacing:-0.2pt;">all the</font><font style="letter-spacing:0.2pt;"> directors be subject to the same special majority. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">It is proposed that the following resolution be adopted at the Meeting: </font>
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        <table style="width:456pt;margin-bottom:5.5pt;margin-top:10pt;border-collapse: collapse;border:0.75pt solid #000000; font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <tr style="line-height:12pt;min-height:72pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="width:0.25pt;padding:0pt;font-size:0pt;line-height:0pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:0.75pt solid #000000; ; width:8pt;">&#8203;</td>
            <td style="border-bottom:0.75pt solid #000000; ;padding:6.167pt 0pt 6pt 0pt; width:0pt;" colspan="4">
              <font style="letter-spacing:-0.2pt;">&#8220;RESOLVED, that the grant of 13,459 options exercisable into up to 13,459 ordinary shares of the Company, no par value, to each of the Company&#8217;s directors (other than the Active Chairman), and of 26,918 options exercisable into up to 26,918 ordinary shares of the Company, no par value, to the Company&#8217;s Active Chairman, having been approved by the Compensation Committee, Audit Committee and Board of Directors, and as presented to the shareholders, be, and same hereby is, approved.&#8221;</font>
            </td>
            <td style="padding:0pt;border-bottom:0.75pt solid #000000; ; width:8pt;">&#8203;</td>
            <td style="width:0.25pt;padding:0pt;font-size:0pt;line-height:0pt;">&#8203;</td>
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        <div style="margin-top:11.5pt; width:456pt; line-height:12pt;font-weight:bold;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:-0.2pt;">The Board of Directors recommends a vote FOR approval of this proposed resolution. </font>
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      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">7</font>
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">&#8203;</div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-bottom:79pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;font-weight:bold;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:-0.2pt;">Proposal No. 3</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">APPROVAL OF AN EQUITY COMPENSATION GRANT TO THE COMPANY&#8217;S CEO, ELI GLICKMAN</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Subject to the approval of Proposal No. 1 and following the approval of the Compensation Committee and Board of Directors, it is proposed to approve a grant of 207,941 options exercisable into up to 207,941 ordinary shares of the Company, no par value to the Company&#8217;s CEO, Eli Glickman (in this Proposal No. 3, the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Options</font><font style="letter-spacing:0.2pt;">&#8221;). </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Options constitute approximately 0.17% of the Company&#8217;s share capital (approximately 0.17% of the share capital on a fully diluted basis</font><font style=" position:relative; bottom:4.25pt;font-size:7.5pt;letter-spacing:0.15pt;">(2)</font><font style="letter-spacing:0.2pt;">). The Options will be granted under the Plan and will bear the same terms as the proposed equity compensation grant to the Company&#8217;s directors under Proposal No. 2 above. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">For information on the compensation terms of our CEO, see Item&#160;6.B of the Annual Report and the Company&#8217;s Proxy Statement dated April&#160;5, 2021, for the Company&#8217;s Annual General Meeting that took place on May&#160;12, 2021, under the section titled &#8220;Directors&#8217; and Officers&#8217; Compensation&#8221;. </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Reasoning of the Compensation Committee and Board of Directors for the grant of the Options</font><font style="letter-spacing:0.2pt;">: </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Compensation Committee and Board of Directors approved the proposed grant of the Options while noting the following: (a)&#160;the great contribution of the Company&#8217;s CEO to the Company&#8217;s business operations and financial results; (b)&#160;the equity grant is intended to align the interests of the CEO with those of the Company&#8217;s shareholders and create a link between his compensation and the performance of the Company&#8217;s ordinary shares; (c)&#160;that such grant shall enhance the CEO&#8217;s motivation in the long term and strengthen his retention; (d)&#160;external benchmark studies regarding CEOs&#8217; compensation schemes; and (e)&#160;subject to the approval of Proposal No. 1 above, that such grant is in line with the Company&#8217;s proposed amended and restated compensation policy. In light of all of the above, the Compensation Committee and the Board of Directors concluded that the proposed grant of Options to the CEO is fair and reasonable and to the benefit of the Company. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">It is proposed that the following resolution be adopted at the Meeting: </font>
        </div>
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          <tr style="line-height:12pt;min-height:60pt;white-space:normal;text-align:left;vertical-align:top;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="width:0.25pt;padding:0pt;font-size:0pt;line-height:0pt;">&#8203;</td>
            <td style="padding:0pt;border-bottom:0.75pt solid #000000; ; width:8pt;">&#8203;</td>
            <td style="border-bottom:0.75pt solid #000000; ;padding:6.167pt 0pt 6pt 0pt; width:0pt;" colspan="4">
              <font style="letter-spacing:-0.2pt;">&#8220;RESOLVED, that the grant of 207,941 options exercisable into up to 207,941 ordinary shares of the Company, no par value, to the Company&#8217;s CEO, Eli Glickman, having been approved by the Compensation Committee and Board of Directors, and as presented to the shareholders, be, and same hereby is, approved.&#8221;</font>
            </td>
            <td style="padding:0pt;border-bottom:0.75pt solid #000000; ; width:8pt;">&#8203;</td>
            <td style="width:0.25pt;padding:0pt;font-size:0pt;line-height:0pt;">&#8203;</td>
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        <div style="margin-top:11.5pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">The Board of Directors recommends a vote FOR approval of this proposed resolution.</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">OTHER BUSINESS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Management knows of no other business to be acted upon at the Meeting. However, if any other business properly comes before the Meeting, the persons named in the enclosed proxy will vote upon such matters in accordance with their best judgment. </font>
        </div>
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      <div style="margin-left:69.66pt;width:456pt;">
        <div style="width:456pt;">
          <div style="margin-left: 0pt; width: 108pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
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        <div style=" float:left; margin-top:13pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style=" position:relative; bottom:4.25pt;font-size:7.5pt;letter-spacing:0.15pt;">(2)</font>
          <br >
        </div>
        <div style=" margin-top:12pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Calculated taking into account the exercise or conversion of all exercisable or convertible securities issued by the Company to date, including the proposed equity grants described in this Proxy Statement. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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      <div style="margin-top:2pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">8</font>
          <br >
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      <hr >
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Helvetica, Arial, sans-serif;font-size:9pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">&#8203;</div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-bottom:472pt;margin-left:69.66pt;width:456pt;">
        <div style="text-indent:20pt; width:456pt; line-height:12pt;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <font style="letter-spacing:0.2pt;">The prompt return of your proxy will be appreciated and helpful in obtaining the necessary vote. Therefore, whether or not you expect to attend the Meeting, please sign the form of proxy provided herewith and return it in the enclosed envelope, so that it is received by the Company not later than Monday, April&#160;25, 2022 at 7:00am Israel time. </font>
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        <table style="width:456pt;margin-bottom:5pt;margin-top:14pt;border-collapse: collapse;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1.5pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">&#8199; </font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
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              <div>
                <font style="letter-spacing:0.2pt;">By Order of the Board of Directors, </font>
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                <font style="text-transform:uppercase;letter-spacing:-0.2pt;">Y<font style="font-size:7pt;">air</font> S<font style="font-size:7pt;">eroussi</font></font><font style="letter-spacing:-0.2pt;">, </font>
                <br >
                <font style="font-style:italic;letter-spacing:-0.2pt;">Chairman of the Board of Directors </font>
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              <font style="letter-spacing:0.2pt;">March&#160;16, 2022</font>
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            <td colspan="3">&#8203;</td>
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          <font style="letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">9</font>
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">&#8203;</div>
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          <font style=" text-decoration:underline #000000 solid;letter-spacing:-0.2pt;">Exhibit&#160;A</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:-0.2pt;">AMENDED AND RESTATED</font><font style="letter-spacing:-0.2pt;"> COMPENSATION POLICY </font>
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        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">ZIM INTEGRATED SHIPPING SERVICES LTD. </font>
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        <div style="margin-top:6pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Compensation Policy for Officers and Directors</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-top:8pt; text-align:center; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">(As Adopted by the Shareholders on December&#160;22, 2020, </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">as Amended by the Shareholders on &#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;&#8199;,&#160;2022)</font><font style="letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">1.&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Introduction</font><font style="letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">This document sets forth the Compensation Policy for Officers and Directors (this &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Compensation Policy</font><font style="letter-spacing:0.2pt;">&#8221; or &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Policy</font><font style="letter-spacing:0.2pt;">&#8221;)of ZIM Integrated Shipping Services Ltd. (&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">ZIM</font><font style="letter-spacing:0.2pt;">&#8221; or the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Company</font><font style="letter-spacing:0.2pt;">&#8221;),in accordance with the requirements of the Companies Law of 1999 (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Companies Law</font><font style="letter-spacing:0.2pt;">&#8221;). </font>
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        <div style="margin-left:20pt; margin-top:9.8pt; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Compensation is a key component of ZIM&#8217;s overall human capital strategy to attract, retain, reward, and motivate highly skilled individuals that will enhance ZIM&#8217;s value and otherwise assist ZIM to reach its business and financial long-term goals. Accordingly, the structure of this Policy is established to tie the compensation of officers and directors to ZIM&#8217;s goals and performance. </font>
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        <div style="margin-left:20pt; margin-top:9.81pt; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">For purposes of this Policy, &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Officers</font><font style="letter-spacing:0.2pt;">&#8221; shall have the meaning set forth to such term in Section&#160;1 of the Companies Law, excluding, unless otherwise expressly indicated herein, ZIM&#8217;s directors. </font>
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        <div style="margin-left:20pt; margin-top:9.8pt; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Each of the Officers may be engaged as an employee and/or as an independent service provider (including through a company controlled by him or her, against the issuance of a tax invoice to the Company), provided that if the Officer is engaged as an independent service provider the total amount paid to him or her (including, but not limited to, value added tax) shall not exceed the maximum amounts that would have been paid to such Officer had been engaged as an employees as specified in this Policy. </font>
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        <div style="margin-left:20pt; margin-top:9.81pt; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">This Policy shall not apply to any subsidiaries of the Company except for an employee of a Company subsidiary who is also an Officer of the Company. </font>
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        <div style="margin-left:20pt; margin-top:9.8pt; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">This policy is subject to applicable law and is not intended and should not be interpreted as limiting or derogating from provisions of applicable law to the extent not permitted by such law. </font>
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        <div style="margin-left:20pt; margin-top:9.8pt; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">This Policy shall apply to compensation agreements and arrangements which will be approved after the date on which this Policy is adopted and shall serve as ZIM&#8217;s Compensation Policy for five (5)&#160;years, </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">commencing on the date of the Company&#8217;s initial public offering on January&#160;28, 2021</font><font style=" text-decoration:line-through;font-weight:bold;color:#FC0014;letter-spacing:-0.2pt;">as of its adoption, unless amended earlier</font><font style="letter-spacing:0.2pt;">. </font>
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        <div style="margin-left:20pt; margin-top:9.9pt; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The Compensation Committee and the Board of Directors of ZIM (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Compensation Committee</font><font style="letter-spacing:0.2pt;">&#8221; and the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Board</font><font style="letter-spacing:0.2pt;">&#8221;, respectively) shall review and reassess this Policy from time to time, as required by the Companies Law. </font>
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        <div style="margin-left:20pt; margin-top:9.9pt; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Wherever reference is made to the required approvals in this Compensation Policy, such reference relates to the applicable law as of the date of approval of this Compensation Policy and in any case is subject to the provisions of sections 23 and 24 below. </font>
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        <div style="margin-left:20pt; margin-top:9.9pt; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Amounts determined in ILS were translated for convenience purposes to U.S. Dollar based on a rate of exchange of 1 U.S. Dollar equals to 3.3190 ILS. </font>
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          <font style="letter-spacing:0.2pt;">Changes of up to 5% from the maximal amounts set forth in this Compensation Policy shall not be regarded as a deviation from the provisions of this Compensation Policy. </font>
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        <div style="margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">2.&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Objectives</font><font style="letter-spacing:0.2pt;"> </font>
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        <div style="margin-left:20pt; margin-top:9.9pt; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">ZIM&#8217;s objectives and goals in setting this Policy are to attract, motivate and retain highly experienced leaders who will contribute to ZIM&#8217;s success and enhance shareholder value, while demonstrating professionalism in a highly achievement-oriented culture that is based on merit and rewards excellent </font>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
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          <font style="letter-spacing:0.2pt;">10</font>
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">performance in the long term, and embedding ZIM&#8217;s core values as part of a motivated behavior. To that end, this Policy is designed, among others: </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.31pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">2.1.</font>
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        <div style=" margin-top:7.31pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">To closely align the interests of the Officers with those of ZIM&#8217;s shareholders in order to enhance shareholder value; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.3pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">2.2.</font>
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        <div style=" margin-top:7.3pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">To align a significant portion of the Officers&#8217; compensation with ZIM&#8217;s short and long-term goals and performance; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.31pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">2.3.</font>
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        <div style=" margin-top:7.31pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">To provide the Officers with a structured compensation package, including competitive salaries, performance-motivating cash and equity incentive programs and benefits, and to be able to present to each Officer an opportunity to advance in a growing organization; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">2.4.</font>
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        <div style=" margin-top:7.3pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">To strengthen the retention and the motivation of Officers in the long term; </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.31pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">2.5.</font>
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        <div style=" margin-top:7.31pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">To provide appropriate awards in order to incentivize superior individual excellency and corporate performance; and </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">3.&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Compensation Instruments</font><font style="letter-spacing:0.2pt;"> </font>
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        <div style="margin-left:20pt; margin-top:9.3pt; text-align:justify; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">Compensation instruments under this Policy may include the following: </font>
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          <font style="letter-spacing:0.2pt;">3.1.</font>
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          <font style="letter-spacing:0.2pt;">Base salary; </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.3pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">3.2.</font>
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          <font style="letter-spacing:0.2pt;">Benefits; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.31pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">3.3.</font>
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          <font style="letter-spacing:0.2pt;">Cash bonuses; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.3pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">3.4.</font>
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          <font style="letter-spacing:0.2pt;">Equity-based compensation; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.3pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">3.5.</font>
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          <font style="letter-spacing:0.2pt;">Change of control terms; and </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.31pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">3.6.</font>
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          <font style="letter-spacing:0.2pt;">Retirement and termination terms. </font>
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          <font style="letter-spacing:0.2pt;">For purposes of this Compensation Policy: </font>
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        <div style="margin-left:20pt; margin-top:9.31pt; width:436pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">&#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Base Salary</font><font style="letter-spacing:0.2pt;">&#8221; shall mean gross salary, before contributions to social benefits; and &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Employment Cost</font><font style="letter-spacing:0.2pt;">&#8221; shall mean any payment for employment, including contributions to social benefits, car and expenses of the use thereof, bonuses and any other benefit or payment. </font>
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        <div style="margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="font-weight:normal;letter-spacing:0.2pt;">4.&nbsp;&nbsp;&nbsp;</font><font style="letter-spacing:-0.2pt;">Overall Compensation&#8201;&#8212;&#8201;Ratio Between Fixed and Variable Compensation</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">4.1.</font>
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        <div style=" margin-top:7.31pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">This Policy aims to balance the mix of &#8220;Fixed Compensation&#8221; &#8203;(comprised primarily of base salary and benefits) and &#8220;Variable Compensation&#8221; &#8203;(comprised primarily of cash bonuses and equity-based compensation) in order to, among other things, appropriately incentivize Officers to meet ZIM&#8217;s short and long-term goals while taking into consideration the Company&#8217;s need to manage a variety of business risks. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.31pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">4.2.</font>
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        <div style=" margin-top:7.31pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The value of the total variable compensation (</font><font style="font-style:italic;letter-spacing:0.2pt;">i.e.</font><font style="letter-spacing:0.2pt;">, annual bonus and equity</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">-</font><font style="letter-spacing:0.2pt;">based compensation) of each Officer shall not exceed </font><font style=" text-decoration:line-through;font-weight:bold;color:#FC0014;letter-spacing:-0.2pt;">80</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">90</font><font style="letter-spacing:0.2pt;">% of the value of the total compensation package of such Officer on an annual basis as determined by the Compensation Committee or the Board. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:8pt; text-align:justify; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">5.&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Intra-Company Compensation Ratio</font><font style="letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.21pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">5.1.</font>
          <br >
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        <div style=" margin-top:7.21pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">In the process of drafting and updating this Policy, the Compensation Committee and the Board have examined the ratio between Employment Cost associated with the engagement of the Officers and directors, and the average and median Employment Cost associated with the engagement of ZIM&#8217;s other employees (including contractor employees as defined in the Companies Law) (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Ratio</font><font style="letter-spacing:0.2pt;">&#8221;). </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.21pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">5.2.</font>
          <br >
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        <div style=" margin-top:7.21pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The possible ramifications of the Ratio on the daily working environment in ZIM were examined and will continue to be examined by ZIM from time to time in order to ensure that levels of executive compensation, as compared to the overall workforce will not have a negative impact on work relations in ZIM. </font>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">11</font>
          <br >
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">&#8203;</div>
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        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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        <div style="width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">B. </font><font style=" text-decoration:underline #000000 solid;letter-spacing:-0.2pt;">Base Salary and Benefits</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">6.&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Base Salary</font><font style="letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">6.1.</font>
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">A Base Salary provides stable compensation to Officers and allows ZIM to attract and retain competent executive talent and maintain a stable management team. The Base Salary varies among Officers, and is individually determined accordingto the educational background, prior vocational experience, qualifications, role at the company, business responsibilities and the past performance of each Officer. </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">6.2.</font>
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The monthly Base Salary shall not exceed the amounts specified below: </font>
          <br >
          <font style="letter-spacing:0.2pt;">CEO: ILS 240,000 (approximately $72,311) </font> <br ><font style="letter-spacing:0.2pt;">CFO: ILS 190,000 (approximately $57,246) </font> <br ><font style="letter-spacing:0.2pt;">Officers other than the CEO and CFO: ILS 130,000 (approximately $39,168) </font></div>
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        <div style="margin-left:40pt; margin-top:10pt; width:416pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Company may link the Base Salary of an Officer to the Israeli Consumer Price Index or to the exchange rate of any currency. </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">In the latter case,</font><font style="letter-spacing:0.2pt;"> </font><font style=" text-decoration:line-through;font-weight:bold;color:#FC0014;letter-spacing:-0.2pt;">T</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">t</font><font style="letter-spacing:0.2pt;">he exchange rate of US dollar to ILS </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">for determination of the compensation in U.S. Dollar</font><font style="letter-spacing:0.2pt;"> shall be the representative rate of exchange determined by the Bank of Israel as of the date of approval of the compensation of the relevant Officer by the Board. </font>
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        <div style="margin-left:40pt; margin-top:10pt; width:416pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The maximum monthly Base Salary set forth in this section is based on the Officer&#8217;s full-time position. With respect to an Officer employed by the Company on a part-time basis, the maximum Base Salary shall be reduced proportionately, with the Compensation Committee and the Board having the authority to determine the scope of the position of the Officer and change it from time to time. </font>
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        <div style="margin-left:40pt; margin-top:10pt; width:416pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The total annual cost of any Officer </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">(not including variable compensation)</font><font style="letter-spacing:0.2pt;"> shall not exceed an amount equal to 150% of 12 times the gross monthly salary of the said Officer. </font>
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          <font style="letter-spacing:0.2pt;">6.3.</font>
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The Compensation Committee and the Board may periodically consider and approve Base Salary adjustments for Officers. The main considerations for Base Salary adjustment are similar to those used in initially determining the Base Salary, but may also include change of role or responsibilities, recognition for professional achievements, regulatory or contractual requirements, budgetary constraints or market trends, or such other factors as determined by the Compensation Committee or the Board. The Compensation Committee and the Board shall also consider the previous and existing compensation arrangements of the Officer whose base salary is being considered for adjustment. </font>
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          <font style="letter-spacing:0.2pt;">7.&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Benefits</font><font style="letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">7.1.</font>
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The following benefits may be granted to the Officers in order, among other things, to comply with legal requirements: </font>
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          <font style="letter-spacing:0.2pt;">7.1.1.</font>
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:68pt;">
          <font style="letter-spacing:0.2pt;">Vacation days in accordance with market practice, including redemption of vacation days; </font>
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        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:28pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">7.1.2.</font>
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          <font style="letter-spacing:0.2pt;">Sick leave in accordance with market practice; </font>
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        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:28pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">7.1.3.</font>
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:68pt;">
          <font style="letter-spacing:0.2pt;">Convalescence pay according to applicable law; </font>
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        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:28pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">7.1.4.</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:68pt;">
          <font style="letter-spacing:0.2pt;">Monthly remuneration for a study fund, as allowed by applicable law and with reference to ZIM&#8217;s practice and the practice in peer group companies (including contributions on bonus payments); </font>
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        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:28pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">7.1.5.</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:68pt;">
          <font style="letter-spacing:0.2pt;">ZIM may contribute on behalf of the Officer to an insurance policy, a pension fund or retirement fund, as allowed or required by applicable law and with reference to ZIM&#8217;s policies and procedures and the practice in similar companies (including contributions on bonus payments); and </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">12</font>
          <br >
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      <hr >
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">&#8203;</div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; margin-left:40pt; line-height:12pt; text-align:left; width:28pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">7.1.6.</font>
          <br >
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        <div style=" line-height:12pt; text-align:left; margin-left:68pt;">
          <font style="letter-spacing:0.2pt;">ZIM shall contribute on behalf of the Officer towards work disability insurance and life insurance, as allowed or required by applicable law and with reference to ZIM&#8217;s policies and procedures and the practice in similar companies (including contributions on bonus payments). </font>
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        <div style="margin-left:20pt; margin-top:10.1pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The above list is non-exclusive, and ZIM may grant its Officers other similar, comparable or customary benefits. </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">7.2.</font>
          <br >
        </div>
        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">ZIM may offer additional benefits to its Officers to the extent such benefits are reasonable or comparable to customary market practices, such as, but not limited to: company car, telecommunication and electronic devices, business related expenses, insurances and other benefits (such as newspaper subscriptions, academic and professional studies (including participation in those of children), periodic medical examinations, gifts on holidays and special occasions), etc., including tax gross-up for such benefits. </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">7.3.</font>
          <br >
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">ZIM may reimburse its Officers for reasonable work-related expenses incurred as part of their activities, including without limitations, meeting participation expenses, reimbursement of business travel, including a daily stipend when traveling and accommodation expenses. ZIM may provide advance payments to its Officers in connection with work-related expenses. </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">7.4.</font>
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Non-Israeli Officers may receive other similar, comparable or customary benefits as applicable in the relevant jurisdiction in which they are employed. Such benefits shall be determined based on the methods described in Section&#160;6.2 of this Policy (with the necessary changes and adjustments). </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">7.5.</font>
          <br >
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">In events of relocation or repatriation of an Officer to another geography, such Officer may receive other similar, comparable or customary benefits as applicable in the relevant jurisdiction in which he or she is employed or additional payments to reflect adjustments in cost of living. Such benefits may include reimbursements, stipends or other payments for out-of-pocket one-time payments and other ongoing expenses, such as housing allowance, car allowance, home leave visit, tax equalization payments, travel expenses for family members and other similar costs. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">C. </font><font style=" text-decoration:underline #000000 solid;letter-spacing:-0.2pt;">Cash Bonuses</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-top:8pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="font-weight:normal;letter-spacing:0.2pt;">8.&nbsp;&nbsp;&nbsp;</font><font style="letter-spacing:-0.2pt;">Cash Bonuses&#8201;&#8212;&#8201;The Objective</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">8.1.</font>
          <br >
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Compensation in the form of an annual or other periodic cash bonus is an important element in aligning the Officers&#8217; compensation with ZIM&#8217;s objectives and business goals. Therefore, ZIM&#8217;s compensation philosophy reflects a pay-for-performance element, in which bonus payout eligibility and levels are generally determined based on actual financial or operational results, as well as individual performance. </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">8.2.</font>
          <br >
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">A cash bonus may be awarded to an Officer upon the attainment of pre-set periodic objectives and individual targets determined by the Compensation Committee (and, if required by law, by the Board) at the beginning of each calendar or fiscal year or bonus period, or upon engagement, in case of newly-hired Officers, or upon establishment of a new bonus program, taking into account ZIM&#8217;s short and long-term goals, as well as its compliance and risk management policies. The Compensation Committee and the Board shall also determine applicable minimum thresholds that must be met for entitlement to a cash bonus (all or any portion thereof) and the formula for calculating any such cash bonus payout. In special circumstances, as determined by the Compensation Committee and the Board (e.g., regulatory changes, significant changes in ZIM&#8217;s business environment, a significant organizational change, a significant merger and acquisition events, or other similar events etc.), the Compensation Committee and the Board may modify the objectives and/or their relative weights and the amount of bonus payouts (up to their entirety) during the applicable bonus period. </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">8.3.</font>
          <br >
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">In the event the employment of an Officer is terminated prior to the end of a bonus period, the Company may (but shall not be obligated to) pay such Officer a full cash bonus for the applicable period (based on achievement of bonus targets during such period) or a prorated one, or no bonus. </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">13</font>
          <br >
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      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">&#8203;</div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
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      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; margin-left:20pt; line-height:12pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">8.4.</font>
          <br >
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        <div style=" line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The actual cash bonus with respect to a bonus period to be awarded to Officers shall be recommended by the CEO and approved by the Compensation Committee and the Board. </font>
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        <div style="margin-top:8pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="font-weight:normal;letter-spacing:0.2pt;">9.&nbsp;&nbsp;&nbsp;</font><font style="letter-spacing:-0.2pt;">Annual Cash Bonuses&#8201;&#8212;&#8201;The Formula</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Officers other than the CEO</font><font style="letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">9.1.</font>
          <br >
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The annual cash bonus opportunity of ZIM&#8217;s Officers, other than the chief executive officer (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">CEO</font><font style="letter-spacing:0.2pt;">&#8221;), will generally be based on performance objectives and a discretionary evaluation of the Officer&#8217;s overall performance by the CEO and subject to minimum thresholds. The performance objectives will be determined by ZIM&#8217;s CEO and approved by the Compensation Committee and the Board on or about the commencement of each calendar year (or upon engagement, in case of newly hired Officers or in special circumstances as determined by the Compensation Committee and the Board) on the basis of, but not limited to, Company, division and individual objectives. The performance objectives and the weight to be assigned to each achievement in the overall evaluation, will be based on overall Company performance measures, which may be based on actual financial and operational results, such as (but not limited to) EBITDA, Adjusted EBITDA, EBIT, Adjusted EBIT, EBIT margin compared to the industry, net income, operating income and cash flow and may further include, divisional or personal objectives which may include operational objectives, such as (but not limited to) cost per carried TEU, income derived from engine growth, market share, initiation of new markets and operational efficiency, customer focused objectives, project milestones objectives and investment in human capital objectives, such as employee satisfaction, employee retention and employee training and leadership programs. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">9.2.</font>
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        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">In addition, a less significant portion of the annual cash bonus opportunity granted to an Officer, other than the CEO, and in any event not more than 30% of the annual cash bonus, may be based on a discretionary evaluation of the relevant Officer&#8217;s overall performance by the Compensation Committee and the Board based on quantitative and qualitative criteria or such other criteria as determined by the Compensation Committee and the Board. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">9.3.</font>
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        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The maximum annual cash bonus that an Officer, other than the CEO, will be entitled to receive for any given calendar year, will not exceed 11 monthly Base Salaries of such Officer. </font>
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        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">CEO</font><font style="letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">9.4.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The annual cash bonus opportunity of ZIM&#8217;s CEO will be mainly based on performance measurable objectives and subject to minimum thresholds as provided in Section&#160;8.2 above. Such performance measurable objectives will be determined annually by the Compensation Committee and the Board on or about the commencement of each calendar year (or upon engagement, in case of newly hired CEO or in special circumstances as determined by Compensation Committee the Board). The performance measurable objectives (which include the objectives and the weight to be assigned to each achievement in the overall evaluation, will be based on overall Company performance measures, which may be based on, Company and personal objectives. Company objectives may include actual financial and operational results, such as (but not limited to) EBITDA, Adjusted EBITDA, EBIT, Adjusted EBIT, EBIT margin compared to the industry, net income, operating income, cash flow or Company&#8217;s annual operating plan and long-term plan. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">9.5.</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">In addition, a less significant portion of the annual cash bonus opportunity granted to ZIM&#8217;s CEO, and in any event not more than 25% of the annual cash bonus, may be based on a discretionary evaluation of the CEO&#8217;s overall performance by the Compensation Committee and the Board based on quantitative and qualitative criteria or such other criteria as determined by the Compensation Committee and the Board. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">9.6.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">The maximum annual cash bonus that the CEO will be entitled to receive for any given calendar year, will not exceed 18 monthly Base Salaries of the CEO. </font>
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        <div style="margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">10.&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Other Bonuses</font><font style="letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:25pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">10.1.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:45pt;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Special Bonus</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;ZIM may grant its Officers a special bonus as an award for special achievements </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">14</font>
          <br >
        </div>
      </div>
      <hr >
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">&#8203;</div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-left:45pt; width:411pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">(such as in connection with mergers and acquisitions, offerings, achieving target budget or business plan under exceptional circumstances or special recognition in case of retirement) or as a retention award at the Compensation Committee&#8217;s and Board&#8217;s discretion), subject to any additional approval as may be required by the Companies Law (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Special Bonus</font><font style="letter-spacing:0.2pt;">&#8221;). The Special Bonus will not exceed 5 monthly Base Salaries of such Officer. </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.19pt; margin-bottom:0pt; text-align:left; width:25pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">10.2.</font>
          <br >
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        <div style=" margin-top:8.19pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:45pt;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Signing Bonus</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;ZIM may grant a newly recruited Officer a signing bonus, at the Compensation Committee&#8217;s and Board&#8217;s discretion, subject to any additional approval as may be required by the Companies Law (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Signing Bonus</font><font style="letter-spacing:0.2pt;">&#8221;). The Signing Bonus will not exceed 12 monthly Base Salaries of such Officer. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:left; width:25pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">10.3.</font>
          <br >
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:45pt;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Relocation/ Repatriation Bonus</font><font style="letter-spacing:0.2pt;">.&nbsp;&nbsp;&nbsp;ZIM may grant its Officers a special bonus in the event of relocation or repatriation of an Officer to another geography (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Relocation Bonus</font><font style="letter-spacing:0.2pt;">&#8221;). The Relocation bonus will include customary benefits associated with such relocation and its monetary value will not exceed 6 monthly Base Salaries of such Officer. </font>
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        <div style="margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">11.&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Compensation Recovery (&#8220;Clawback&#8221;)</font><font style="letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:left; width:25pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">11.1.</font>
          <br >
        </div>
        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:45pt;">
          <font style="letter-spacing:0.2pt;">In the event of an accounting restatement, ZIM shall be entitled to recover from its Officers the bonus compensation or performance-based equity compensation in the amount in which such compensation exceeded what would have been paid under the financial statements, as restated, provided that a claim is made by ZIM prior to the second anniversary of fiscal year end of the restated financial statements. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:left; width:25pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">11.2.</font>
          <br >
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:45pt;">
          <font style="letter-spacing:0.2pt;">Notwithstanding the aforesaid, the compensation recovery will not be triggered in the following events: </font>
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        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:left; width:30pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">11.2.1.</font>
          <br >
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:70pt;">
          <font style="letter-spacing:0.2pt;">The financial restatement is required due to changes in the applicable financial reporting standards; or </font>
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        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:left; width:30pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">11.2.2.</font>
          <br >
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:70pt;">
          <font style="letter-spacing:0.2pt;">The Compensation Committee and Board have determined that Clawback proceedings in the specific case would be impossible, impractical or not commercially or legally efficient. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:left; width:25pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">11.3.</font>
          <br >
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:45pt;">
          <font style="letter-spacing:0.2pt;">Nothing in this Section&#160;11 derogates from any other &#8220;Clawback&#8221; or similar provisions regarding disgorging of profits imposed on Officers by virtue of applicable laws. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">D. </font><font style=" text-decoration:underline #000000 solid;letter-spacing:-0.2pt;">Equity Based Compensation</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">12.&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">The Objective</font><font style="letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:left; width:25pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">12.1.</font>
          <br >
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:45pt;">
          <font style="letter-spacing:0.2pt;">The equity-based compensation for Officers is designed to enhance the alignment between the Officers&#8217; interests with the long-term interests of ZIM and its shareholders, and to strengthen the retention and the motivation of Officers in the long term. As equity-based awards are structured to vest over several&#160;years, their incentive value to recipients is aligned with longer-term strategic plans. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:left; width:25pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">12.2.</font>
          <br >
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:45pt;">
          <font style="letter-spacing:0.2pt;">The equity-based compensation offered by ZIM is intended to be in a form of share options and/or other equity-based awards, such as restricted stock unit awards or restricted share</font><font style=" text-decoration:line-through;font-weight:bold;color:#FC0014;letter-spacing:-0.2pt;">s</font><font style="letter-spacing:0.2pt;"> award</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">s</font><font style="letter-spacing:0.2pt;">, in accordance with the Company&#8217;s equity incentive plan in place as may be updated from time to time. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:left; width:25pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">12.3.</font>
          <br >
        </div>
        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:45pt;">
          <font style="letter-spacing:0.2pt;">All equity-based incentives granted to Officers shall be subject to vesting periods in order to promote long-term retention of the awarded Officers. Unless determined otherwise in a specific award agreement approved by the Compensation Committee and the Board (and in the case of the CEO&#8201;&#8212;&#8201;also by the Company&#8217;s general meeting of shareholders), grants to Officers</font><font style=" text-decoration:line-through;font-weight:bold;color:#FC0014;letter-spacing:-0.2pt;">, other than non-employee directors</font><font style="letter-spacing:0.2pt;">, shall vest gradually over a period of between one (1)&#160;to four (4)&#160;years. The Compensation Committee and Board shall have the discretion to shorten the vesting period under special circumstances (such as a grant that was delayed not as a result of the Officer&#8217;s actions) provided that the vesting period shall not be less than one (1)&#160;year. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">15</font>
          <br >
        </div>
      </div>
      <hr >
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">&#8203;</div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; margin-left:20pt; line-height:12pt; text-align:left; width:25pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">12.4.</font>
          <br >
        </div>
        <div style=" line-height:12pt; text-align:left; margin-left:45pt;">
          <font style="letter-spacing:0.2pt;">The exercise price of options shall be determined in accordance with ZIM&#8217;s policies, and in any event will not be less than the average closing price per a share of the Company on the stock exchange in which the Company&#8217;s shares are principally traded over the thirty (30) day calendar period </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">preceding</font><font style="letter-spacing:0.2pt;"> the Board&#8217;s decision</font><font style=" text-decoration:line-through;font-weight:bold;color:#FC0014;letter-spacing:-0.2pt;"> (or shareholders&#39; decision to the extent required by law)</font><font style="letter-spacing:0.2pt;"> on the grant of the relevant option (excluding with respect to awards granted subject to the Company&#8217;s initial public offering in which case the exercise price may be the price of the Company&#8217;s share as determined in the pricing in the initial public offering). Unless otherwise determined by the Company (subject to the approvals of the Compensation Committee and the Board, and with respect to the Company&#8217;s CEO&#8201;&#8212;&#8201;also the Company&#8217;s general meeting of shareholders), and subject to the provisions of any applicable law, the exercise price of restricted shares and restricted share&#160;units (RSUs) is zero. Awards may also be exercised by a method of &#8220;Cashless&#8221; exercise. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.9pt; margin-bottom:0pt; text-align:left; width:25pt;white-space:nowrap;font-weight:bold;color:#FC0014;">
          <font style=" text-decoration:line-through;letter-spacing:-0.2pt;">12.5.</font>
          <br >
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        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:45pt;font-weight:bold;color:#FC0014;">
          <font style=" text-decoration:line-through;letter-spacing:-0.2pt;">Subject to any applicable law, ZIM may determine, at the discretion of the Compensation Committee and the Board (and with respect to the Company&#39;s CEO - also the Company&#39;s general meeting of shareholders), the tax regime under which equity-based compensation may be granted, including a tax regime which will maximize the benefit to the Officers.</font><font style="font-weight:normal;color:#000000;letter-spacing:0.2pt;"> </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:5.9pt; margin-bottom:0pt; text-align:left; width:25pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">12.</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">5</font><font style=" text-decoration:line-through;font-weight:bold;color:#FC0014;letter-spacing:-0.2pt;">6</font><font style="letter-spacing:0.2pt;">.</font>
          <br >
        </div>
        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:45pt;">
          <font style="letter-spacing:0.2pt;">All other terms of the equity awards shall be in accordance with ZIM&#8217;s equity incentive plans and other related practices and policies. Accordingly, the Compensation Committee and Board (and in the case of the CEO&#8201;&#8212;&#8201;also the Company&#8217;s general meeting of shareholders</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">, subject to applicable law as shall be from time to time</font><font style="letter-spacing:0.2pt;">) may extend the period of time for which an award is to remain exercisable and make provisions with respect to the acceleration of the vesting period of any Officer&#8217;s awards, including, without limitation, in connection with a corporate transaction involving a change of control, and may otherwise modify or amend outstanding awards in accordance with ZIM&#8217;s equity incentive plans and other related practices and policies, subject to any additional approval as may be required by the Companies Law. </font>
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          <font style="letter-spacing:0.2pt;">12.</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">6</font><font style=" text-decoration:line-through;font-weight:bold;color:#FC0014;letter-spacing:-0.2pt;">7</font><font style="letter-spacing:0.2pt;">.</font>
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        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:45pt;">
          <font style="letter-spacing:0.2pt;">Subject to any applicable law, ZIM may determine, at the discretion of the Compensation Committee and the Board (and with respect to the Company&#8217;s CEO&#8201;&#8212;&#8201;also the Company&#8217;s general meeting of shareholders</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">, subject to applicable law as shall be from time to time</font><font style="letter-spacing:0.2pt;">), the tax regime under which equity-based compensation may be granted, including a tax regime which will maximize the benefit to the Officers. </font>
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        <div style="margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">13.&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">General Guidelines for the Grant of Awards</font><font style="letter-spacing:0.2pt;"> </font>
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          <font style="letter-spacing:0.2pt;">13.1.</font>
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        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:45pt;">
          <font style="letter-spacing:0.2pt;">The equity-based compensation shall be granted from time to time and be individually determined and awarded according to the performance, educational background, prior business experience, qualifications, role and the personal responsibilities of the Officer, and such other criteria as determined by the Compensation Committee and the Board (and in the case of the CEO&#8201;&#8212;&#8201;also the Company&#8217;s general meeting of shareholders). </font>
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          <font style="letter-spacing:0.2pt;">13.2.</font>
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        <div style=" margin-top:5.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:45pt;">
          <font style="letter-spacing:0.2pt;">In determining the equity-based compensation granted to each Officer, the Compensation Committee and Board shall consider the factors specified in Section&#160;13.1 above, and in any event the total annual fair market value of any equity-based compensation at the time of grant shall not exceed: (i)&#160;with respect to the CEO&#8201;&#8212;&#8201;</font><font style=" text-decoration:line-through;font-weight:bold;color:#FC0014;letter-spacing:-0.2pt;">12</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">36</font><font style="letter-spacing:0.2pt;"> monthly Base Salaries of the CEO; and (ii)&#160;with respect to each of the other Officers&#8201;&#8212;&#8201;</font><font style=" text-decoration:line-through;font-weight:bold;color:#FC0014;letter-spacing:-0.2pt;">9</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">12</font><font style="letter-spacing:0.2pt;"> monthly Base Salaries of the Officer. </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.9pt; margin-bottom:0pt; text-align:left; width:25pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">13.3.</font>
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        <div style=" margin-top:7.9pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:45pt;">
          <font style="letter-spacing:0.2pt;">The fair market value of the equity-based compensation for the Officers shall be determined according to acceptable valuation practices at the time of grant by dividing the fair market value by the number vesting&#160;years. </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.91pt; margin-bottom:0pt; text-align:left; width:25pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">13.4.</font>
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        <div style=" margin-top:7.91pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:45pt;">
          <font style="letter-spacing:0.2pt;">The Board considered the possibility of determining a ceiling for the exercise value of the equity-based compensation and decided, taking into account the purpose of the equity-based compensation, not to set such a ceiling in this Policy. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">E. </font><font style=" text-decoration:underline #000000 solid;letter-spacing:-0.2pt;">Retirement and Termination of Service Arrangements</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">14.&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Advanced Notice Period</font><font style="letter-spacing:0.2pt;"> </font>
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        <div style="margin-left:20pt; margin-top:9.9pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">ZIM may (but is not obligated to, unless otherwise required by applicable law) provide an Officer, </font>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">16</font>
          <br >
        </div>
      </div>
      <hr >
    </div>
    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">&#8203;</div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-left:20pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">according to his/her seniority in the Company, his/her contribution to the Company&#8217;s goals and achievements and the circumstances of retirement, a prior notice of termination (or equivalent value in cash and other severance benefits) of up to six (6)&#160;months during which the Officer may be entitled to all of the compensation elements, and to the continuation of vesting of his/her equity-based compensation. </font>
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        <div style=" float:left; line-height:12pt; margin-top:8.1pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">15.</font>
          <br >
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        <div style=" margin-top:8.1pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="font-weight:bold;letter-spacing:-0.2pt;">Adjustment Period</font><font style="letter-spacing:0.2pt;"> </font>
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        <div style="margin-left:20pt; margin-top:10.1pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">ZIM may (but is not obligated to, unless otherwise required by applicable law) provide an additional adjustment period (or equivalent value in cash and other severance benefits) of up to twelve (12) months to the CEO, according to his/her seniority in the Company, his/her contribution to the Company&#8217;s goals and achievements and the circumstances of retirement, during which the CEO may be entitled to all of the compensation elements, and to the continuation of vesting of the CEO&#8217;s equity-based compensation. </font>
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        <div style="margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">16.&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Additional Retirement and Termination Benefits</font><font style="letter-spacing:0.2pt;"> </font>
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        <div style="margin-left:20pt; margin-top:10pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">ZIM may provide additional retirement and terminations benefits and payments as may be required by applicable law (e.g., mandatory severance pay under Israeli labor laws), or which will be comparable to customary market practices as well as increased severance pay to the CEO of up to two times the applicable amounts. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">F. </font><font style=" text-decoration:underline #000000 solid;letter-spacing:-0.2pt;">Exculpation, Indemnification and Insurance</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">18.&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Exculpation</font><font style="letter-spacing:0.2pt;"> </font>
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        <div style="margin-left:20pt; margin-top:10pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">ZIM may exculpate its directors and Officers in advance for all or any liability (including expense) imposed on them in connection with a breach of the duty of care vis-a-vis ZIM, to the fullest extent permitted by applicable law. </font>
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        <div style="margin-top:8pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">19.&nbsp;&nbsp;&nbsp;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Insurance and Indemnification</font><font style="letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:25pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">19.1.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:45pt;">
          <font style="letter-spacing:0.2pt;">ZIM may indemnify its directors and Officers to the fullest extent permitted by applicable law, for any liability (including expense) that may be imposed on the director or the Officer, as provided in the indemnity agreement between such individuals and ZIM. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:25pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">19.2.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:45pt;">
          <font style="letter-spacing:0.2pt;">ZIM may provide its directors and Officers with directors&#8217; and officers&#8217; liability insurance (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Standard Policies</font><font style="letter-spacing:0.2pt;">&#8221;) and coverage for directors and Officers for non-indemnifiable losses (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Side A Policies</font><font style="letter-spacing:0.2pt;">&#8221;), including as directors or officers of the Company&#8217;s Subsidiaries, in Israel or overseas. </font>
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        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:30pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">19.2.1.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:70pt;">
          <font style="letter-spacing:0.2pt;">The maximum coverage amount shall not exceed $200&#160;million for each Standard Policy and $1</font><font style=" text-decoration:line-through;font-weight:bold;color:#FC0014;letter-spacing:-0.2pt;">0</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">5</font><font style="letter-spacing:0.2pt;">0&#160;million for each Side A Policy. </font>
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        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:30pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">19.2.2.</font>
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:70pt;">
          <font style="letter-spacing:0.2pt;">The purchase of each of the Standard Policies and the Side A Policies (including its extension or renewal) shall be approved by the Compensation Committee and the Board which shall determine that each of the Standard Policies and the Side A Policies reflect the current market conditions (at the time of purchase, extension or renewal, as the case may be), and it shall not materially affect the Company&#8217;s profitability, assets or liabilities. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:25pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">19.3.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:45pt;">
          <font style="letter-spacing:0.2pt;">Upon circumstances to be approved by the Compensation Committee and the Board, ZIM shall be entitled to purchase a &#8220;run off&#8221; Insurance Policy of up to seven (7)&#160;years, as follows: </font>
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        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:30pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">19.3.1.</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:70pt;">
          <font style="letter-spacing:0.2pt;">The coverage amount shall not exceed $200&#160;million </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">(for the Standard Policy or for the Side A Policy, or for a combination thereof)</font><font style="letter-spacing:0.2pt;">; and </font>
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        <div style=" float:left; margin-left:40pt; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:30pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">19.3.2.</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:70pt;">
          <font style="letter-spacing:0.2pt;">The purchase of the &#8220;run-off&#8221; Insurance Policy (including its extension or renewal) shall be approved by the Compensation Committee and the Board which shall determine that the &#8220;run-off&#8221; Insurance Policy reflects the current market conditions and that it shall not materially affect the Company&#8217;s profitability, assets or liabilities. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
      </div>
      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">17</font>
          <br >
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">&#8203;</div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <div style="margin-top:6pt;margin-left:69.66pt;width:456pt;">
        <div style=" float:left; margin-left:20pt; line-height:12pt; text-align:left; width:25pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">19.4.</font>
          <br >
        </div>
        <div style=" line-height:12pt; text-align:left; margin-left:45pt;">
          <font style="letter-spacing:0.2pt;">ZIM may extend its Standard Policy and/or Side A Policy in place to include coverage for liability pursuant to a future public offering of securities, or purchase new policies (either standard policies or side A policies) for that purpose. Such extension or purchase shall be approved by the Compensation Committee and the Board which shall determine that the extension reflects the current market conditions, and it does not materially affect the Company&#8217;s profitability, assets or liabilities. </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">G. </font><font style=" text-decoration:underline #000000 solid;letter-spacing:-0.2pt;">Arrangements upon Change of Control</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; line-height:12pt; margin-top:7.6pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">20.</font>
          <br >
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        <div style=" margin-top:7.6pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">The following benefits may (but are not required to) be provided to the Officers following a &#8220;Change of Control&#8221; as shall be defined in the respective incentive plan or employment agreement: </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.71pt; margin-bottom:0pt; text-align:left; width:25pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">20.1.</font>
          <br >
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        <div style=" margin-top:7.71pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:45pt;">
          <font style="letter-spacing:0.2pt;">Up to 100% vesting acceleration of outstanding options or other equity-based awards; </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.7pt; margin-bottom:0pt; text-align:left; width:25pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">20.2.</font>
          <br >
        </div>
        <div style=" margin-top:7.7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:45pt;">
          <font style="letter-spacing:0.2pt;">Extension of the exercising period of equity-based compensation for ZIM&#8217;s Officers for a period of up to one (1)&#160;year in case of an Officer other than the CEO and two (2)&#160;years in case of the CEO, following the date of employment termination; and </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">H. </font><font style=" text-decoration:underline #000000 solid;letter-spacing:-0.2pt;">Board of Directors&#8217; Compensation</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style=" float:left; line-height:12pt; margin-top:7.61pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">21.</font>
          <br >
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        <div style=" margin-top:7.61pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">The following benefits may be provided to ZIM&#8217;s Board members: </font>
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        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.7pt; margin-bottom:0pt; text-align:left; width:25pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">21.1.</font>
          <br >
        </div>
        <div style=" margin-top:7.7pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:45pt;">
          <font style="letter-spacing:0.2pt;">All ZIM&#8217;s Board members, excluding the chairperson of the Board, may be entitled to an annual cash fee retainer of up to $100,000 as well as payment per participation in meetings of the Board and its committees in a maximum amount of $2,000 per meeting, subject to value added tax to the extent applicable. The directors are also entitled to reimbursement for reasonable expenses incurred as part of their service as directors, including among other things, travel expenses, allowance for daily living expenses and air travel business expenses. The chairperson of ZIM&#8217;s Board may be entitled to a monthly cash fee payment of up to ILS 200,000 (approximately $60,259). </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.8pt; margin-bottom:0pt; text-align:left; width:25pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">21.2.</font>
          <br >
        </div>
        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:45pt;">
          <font style="letter-spacing:0.2pt;">The compensation of the Company&#8217;s external directors, if elected, shall be in accordance with the Companies Regulations (Rules Regarding the Compensation and Expenses of an External Director) of 2000, as amended by the Companies Regulations (Relief for Public Companies Traded in Stock Exchange Outside of Israel) of 2000, as such regulations may be amended from time to time, including by way of a </font><font style=" text-decoration:line-through;font-weight:bold;color:#FC0014;letter-spacing:-0.2pt;">comparative</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">relative</font><font style="letter-spacing:0.2pt;"> compensation within the meaning of such term under the aforesaid regulations. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.8pt; margin-bottom:0pt; text-align:left; width:25pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">21.3.</font>
          <br >
        </div>
        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:45pt;">
          <font style="letter-spacing:0.2pt;">Notwithstanding the provisions of Sections&#160;2</font><font style=" text-decoration:line-through;font-weight:bold;color:#FC0014;letter-spacing:-0.2pt;">2</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">1</font><font style="letter-spacing:0.2pt;">.1 above, in special circumstances, such as in the case of a professional director, an expert director or a director who makes a unique contribution to the Company, such director&#8217;s compensation may be different than the compensation of all other directors and may be greater than the maximal amount allowed under Section&#160;2</font><font style=" text-decoration:line-through;font-weight:bold;color:#FC0014;letter-spacing:-0.2pt;">2</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">1</font><font style="letter-spacing:0.2pt;">.1 and in no event more than 150% of such amount. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.8pt; margin-bottom:0pt; text-align:left; width:25pt;white-space:nowrap;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">21.4.</font>
          <br >
        </div>
        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:45pt;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Each member of ZIM&#8217;s Board may be granted equity-based compensation in a form of share options and/or other equity-based awards, such as restricted stock unit awards or restricted share awards, in accordance with the Company&#8217;s equity incentive plan in place as may be updated from time to time. The terms of such grant will be in accordance with the provisions of Sections&#160;12 and 13 above.</font><font style="letter-spacing:0.2pt;"> </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.8pt; margin-bottom:0pt; text-align:left; width:25pt;white-space:nowrap;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">21.5</font>
          <br >
        </div>
        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:45pt;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">The total annual fair market value of any equity-based compensation at the time of grant shall not exceed $200,000 with respect to the Company&#8217;s chairperson and $100,000 with respect to any other Board member.</font><font style="letter-spacing:0.2pt;"> </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.8pt; margin-bottom:0pt; text-align:left; width:25pt;white-space:nowrap;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">21.6.</font>
          <br >
        </div>
        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:45pt;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">The fair market value of the equity-based compensation for members of the Board shall be determined according to acceptable valuation practices at the time of grant by dividing the fair market value by the number of vesting&#160;years.</font><font style="letter-spacing:0.2pt;"> </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.8pt; margin-bottom:0pt; text-align:left; width:25pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">21.</font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">7</font><font style=" text-decoration:line-through;font-weight:bold;color:#FC0014;letter-spacing:-0.2pt;">4</font><font style="letter-spacing:0.2pt;">.</font>
          <br >
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        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:45pt;">
          <font style="letter-spacing:0.2pt;">It is hereby clarified that the compensation (and limitations) stated under Section&#160;H will not apply to directors who serve as Officers. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
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      <div style="margin-top:2.00000000000002pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">18</font>
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    <div style=" width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">&#8203;</div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      <div style="margin-top:6pt;margin-bottom:384pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">I. </font><font style=" text-decoration:underline #000000 solid;letter-spacing:-0.2pt;">Miscellaneous</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">22.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">Nothing in this Policy shall be deemed to grant any of ZIM&#8217;s Officers or employees or any third party any right or privilege in connection with their employment by the Company. Such rights and privileges shall be governed by the respective personal employment agreements. The Board may determine that none or only part of the payments, benefits and perquisites detailed in this Policy shall be granted, and is authorized to cancel or suspend a compensation package or part of it. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">23.</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">In the event that new regulations or law amendment in connection with Officers&#8217; and directors&#8217; compensation will be enacted following the adoption of this Policy, ZIM may follow such new regulations or law amendments, even if such new regulations are in contradiction to the compensation terms set forth herein. </font>
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        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">24.</font>
          <br >
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        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">This Policy is subject to applicable law and is not intended, and should not be interpreted as limiting or derogating from, provisions of applicable law to the extent not permitted, nor should it be interpreted as limiting or derogating from the Company&#8217;s Articles of Association. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style=" float:left; line-height:12pt; margin-top:8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">25.</font>
          <br >
        </div>
        <div style=" margin-top:8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:20pt;">
          <font style="letter-spacing:0.2pt;">This Policy shall be governed by the laws of the State of Israel, excluding its conflict of law rules, except with respect to matters that are subject to tax or labor laws in any specific jurisdiction, which shall be governed by the respective applicable law of such jurisdiction. </font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:8pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">*&#8199;&#8199;&#8199;&#8199;*&#8199;&#8199;&#8199;&#8199;*</font>
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      <div style="margin-top:0pt;height:12pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
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      </div>
      <div style="margin-top:2pt;margin-bottom:21.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">19</font>
          <br >
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<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>tm229377d1_exa99x2.htm
<DESCRIPTION>EX-99.2
<TEXT>
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    <title>tm229377-1_6k_DIV_05-exhibit99d2 - none - 2.6872738s</title>
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    <div style="page-break-after:always; width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">&#8203;</div>
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          <font style="letter-spacing:0.2pt;">&#160;</font>
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        <div style="text-align:right; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Exhibit 99.2</font>&#8203;</div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Important Notice Regarding the Availability of Proxy Materials for the Extraordinary General Meeting:</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:8pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The Notice and Proxy Statement is available at </font><font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">www.proxyvote.com</font><font style="letter-spacing:0.2pt;">. </font>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:16pt;font-weight:bold;font-size:14pt;">
          <font style="letter-spacing:-0.28pt;">ZIM INTEGRATED SHIPPING SERVICES LTD.</font><font style="font-weight:normal;letter-spacing:0.28pt;"> </font>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:11.5pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">THIS PROXY IS SOLICITED BY THE BOARD OF DIRECTORS FOR THE EXTRAORDINARY GENERAL MEETING OF SHAREHOLDERS TO BE HELD ON MONDAY, APRIL 25, 2022</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">KNOW ALL PERSONS BY THESE PRESENTS, that the undersigned hereby constitutes and appoints Eli Glickman and Noam Nativ, and each of them, as agent and proxy for the undersigned, with full power of substitution, to vote with respect to all of the Ordinary Shares of ZIM Integrated Shipping Services Ltd. (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Company</font><font style="letter-spacing:0.2pt;">&#8221;), standing in the name of the undersigned at the close of business on Monday, March&#160;28, 2022, at the Extraordinary General Meeting of Shareholders of the Company to be held at the Company&#8217;s offices, 9, Andrei Sakharov Street, Haifa, Israel, on Monday, April&#160;25, 2022, at 11:00a.m. (Israel time) and at any and all adjournments thereof, with all power that the undersigned would possess if personally present and especially (but without limiting the general authorization and power hereby given) to vote as follows (the &#8220;</font><font style="font-weight:bold;letter-spacing:-0.2pt;">Meeting</font><font style="letter-spacing:0.2pt;">&#8221;). </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">A shareholder&#8217;s proxy card must be received by the Company no later than Monday, April&#160;25, 2022 at 7:00a.m. Israel time, otherwise it shall not be valid at the Meeting. </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">The proxies are authorized to vote in their discretion on such other matters as may properly come before the Meeting. </font>
        </div>
        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">The shares represented by this proxy card will be voted in the manner directed. </font>
        </div>
        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">CONTINUED AND TO BE SIGNED ON REVERSE SIDE</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="margin-top:17.41pt; text-align:center; width:456pt;">
          <div style="margin-left: 17.106%; margin-right: 17.106%; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
        </div>
        <div style="margin-top:15.8pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">ELECTRONIC DELIVERY OF FUTURE PROXY MATERIALS</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">If you would like to reduce the costs incurred by our company in mailing proxy materials, you can consent to receiving all future proxy statements, proxy cards and annual reports electronically via e-mail or the Internet. To sign up for electronic delivery, go to www.proxyvote.com, indicate that you agree to receive or access proxy materials electronically in future&#160;years. </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">VOTE BY MAIL</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <div style="text-indent:20pt; margin-top:8pt; width:456pt; line-height:11.5pt;">
          <font style="letter-spacing:0.2pt;">Mark, sign and date your proxy card and return it in the postage-paid envelope we have provided or return it to Vote Processing, c/o&#160;Broadridge, 51 Mercedes Way, Edgewood, NY 11717. </font>
        </div>
        <div style=" float:left; margin-left:20pt; line-height:12pt; margin-top:7.8pt; margin-bottom:0pt; text-align:left; width:20pt;white-space:nowrap;">
          <font style="letter-spacing:0.2pt;">&#9746;</font>
          <br >
        </div>
        <div style=" margin-top:7.8pt; margin-bottom:0pt; line-height:12pt; text-align:left; margin-left:40pt;">
          <font style="letter-spacing:0.2pt;">Please mark your votes as in this example.</font>
        </div>
        <div style="clear:both; padding:0pt; margin:0pt;font-size:0pt;line-height:0pt;">&#8203;</div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Proposal No. 1</font><font style="letter-spacing:0.2pt;">: </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Approval of the Company&#8217;s amended and restated compensation policy.</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <table style="width:456pt;height:25pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:bold;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:264pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:36pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">FOR</font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:60pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">AGAINST</font>
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            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:60pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">ABSTAIN</font>
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            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:264pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1pt 0pt; width:36pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">&#9744;</font>
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            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1pt 0pt; width:60pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">&#9744;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1pt 0pt; width:60pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">&#9744;</font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
        </table>
        <div style="margin-left:20pt; margin-top:7.8pt; width:436pt; line-height:11.5pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Do you have a personal interest in the approval of Proposal No. 1 or are you a controlling shareholder of the Company (please note: if you do not mark either Yes or No, your shares will not be voted for Proposal No. 1)?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <table style="width:366pt;margin-left:45pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:82.5pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:82.5pt;">
              <font style="letter-spacing:0.2pt;">&#9744; YES </font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:82.5pt;">
              <font style="letter-spacing:0.2pt;">&#9744; NO</font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:82.5pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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      <div style="margin-top:2.00000000000002pt;margin-bottom:35.86pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
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      <hr >
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    <div style=" width:595.3pt;margin-left:auto;margin-right:auto;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
      <div style="padding:0pt;margin:0pt;font-family:calibri, arial, sans-serif;font-weight:normal;font-style:normal;font-size:8pt;line-height:8pt;">&#8203;</div>
      <div style="margin-top:15.85pt;height:24pt;margin-left:69.66pt;width:456pt;">
        <div style="margin-top:17pt; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
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      <div style="margin-top:6pt;min-height:660pt;margin-left:69.66pt;width:456pt;">
        <div style="width:456pt; line-height:12pt;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Proposal No. 2</font><font style="letter-spacing:0.2pt;">: </font>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Approval of an equity compensation grant to the Company&#8217;s directors.</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:264pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:36pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">FOR</font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:60pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">AGAINST</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:60pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">ABSTAIN</font>
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            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:264pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1pt 0pt; width:36pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">&#9744;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1pt 0pt; width:60pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">&#9744;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1pt 0pt; width:60pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">&#9744;</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Do you have a personal interest in the approval of Proposal No. 2 (please note: if you do not mark either Yes or No, your shares will not be voted for Proposal No. 2)?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:82.5pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:82.5pt;">
              <font style="letter-spacing:0.2pt;">&#9744; YES </font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:82.5pt;">
              <font style="letter-spacing:0.2pt;">&#9744; NO</font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:82.5pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
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        <div style="margin-top:12pt; width:456pt; line-height:12pt;">
          <font style=" text-decoration:underline #000000 solid;letter-spacing:0.2pt;">Proposal No. 3</font><font style="letter-spacing:0.2pt;">: </font>
        </div>
        <div style="margin-top:12pt; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Approval of an equity compensation grant to the Company&#8217;s CEO, Eli Glickman.</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:264pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:36pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">FOR</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:60pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">AGAINST</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:60pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:-0.2pt;">ABSTAIN</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:10pt;white-space:nowrap;text-align:center;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:264pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1pt 0pt; width:36pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">&#9744;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1pt 0pt; width:60pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">&#9744;</font>
              </div>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:3.5pt 0pt 1pt 0pt; width:60pt;">
              <div style="text-align:center;">
                <font style="letter-spacing:0.2pt;">&#9744;</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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        <div style="margin-left:20pt; margin-top:8pt; width:436pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">Do you have a personal interest in the approval of Proposal No. 3 or are you a controlling shareholder of the Company (please note: if you do not mark either Yes or No, your shares will not be voted for Proposal No. 3)?</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
        </div>
        <table style="width:366pt;margin-left:45pt;margin-top:10pt;border-collapse: collapse;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:82.5pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:82.5pt;">
              <font style="letter-spacing:0.2pt;">&#9744; YES </font>
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            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:82.5pt;">
              <font style="letter-spacing:0.2pt;">&#9744; NO</font>
            </td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:82.5pt;">&#8203;</td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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        <div style="margin-top:12pt; text-align:center; width:456pt; line-height:12pt;font-weight:bold;">
          <font style="letter-spacing:-0.2pt;">PLEASE DATE, SIGN AND RETURN THIS PROXY PROMPTLY USING THE ENCLOSED ENVELOPE.</font><font style="font-weight:normal;letter-spacing:0.2pt;"> </font>
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          <tr style="line-height:10pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt 0pt 1pt 0pt; width:222pt;">
              <font style="letter-spacing:0.2pt;">Dated: </font><font style="vertical-align:2pt;border-bottom:1pt #000 solid;letter-spacing:118pt;margin-left:0pt;">&#160;</font><font style="letter-spacing:0.2pt;">, 2022 </font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
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          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:14.167pt 0pt 0.5pt 0pt; width:222pt;white-space:normal;">
              <div>
                <font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font>
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              <div style="margin-top:2.5pt; text-align:justify;">
                <div style="margin-left: 0pt; width: 222pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
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              <div style="margin-top:2pt; text-align:center;font-weight:bold;font-size:8pt;">
                <font style="letter-spacing:-0.16pt;">(Signature of Shareholder)</font><font style="font-weight:normal;font-size:10pt;">&#8203;</font>
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            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:14.167pt 0pt 0.5pt 0pt; width:222pt;white-space:normal;">
              <div>
                <font style="letter-spacing:0.2pt;">&nbsp;&nbsp;&nbsp;</font>
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                <div style="margin-left: 0pt; width: 222pt; margin-top: 0pt; font-size: 1pt; line-height: 0pt; border-bottom: 1pt solid #000000; ">&#8203;</div>
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              <div style="margin-top:2pt; text-align:center;font-weight:bold;font-size:8pt;">
                <font style="letter-spacing:-0.16pt;">(Signature of Shareholder)</font><font style="font-weight:normal;font-size:10pt;">&#8203;</font>
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            <td style="padding:0pt; width:0pt;">&#8203;</td>
          </tr>
          <tr style="line-height:12pt;white-space:nowrap;text-align:left;vertical-align:top;font-style:normal;font-weight:normal;font-variant:normal;text-transform:none;color:#000000;font-family:Times New Roman, Times, serif ;font-size:10pt;">
            <td style="padding:0pt; width:0pt;">&#8203;</td>
            <td style="padding:0pt 0pt 0.5pt 0pt; width:222pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:0pt; width:6pt;">&#8203;</td>
            <td style="padding:8.167pt 0pt 0.5pt 0pt; width:222pt;white-space:normal;">
              <div style="margin-left:20pt;">
                <font style="letter-spacing:0.2pt;">Please sign exactly as your name(s) appears on your share certificate. If signing as attorney, executor, administrator, trustee or guardian, please indicate the capacity in which signing. When signing as joint tenants, all parties to the joint tenancy must sign. When the proxy is given by a corporation, it should be signed by an authorized officer.</font>
              </div>
            </td>
            <td style="padding:0pt; width:0pt;">&#8203;</td>
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        <div style="margin-top:5pt; text-align:center; width:456pt; line-height:12pt;">
          <font style="letter-spacing:0.2pt;">&#160;</font>
          <br >
        </div>
      </div>
      <hr >
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</DOCUMENT>
</SEC-DOCUMENT>
