March 27, 2019OverviewOverviewOverviewOverview

Company & Financial

Safe harbor statementThis presentation includes forward-looking statements within the meaning of Section 27A of the US Securities Act of 1933, as amended, Section 21E of the

US Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. Words such as

"estimate", “believe”, “anticipate”, “expect”, “intend”, “seek”, “will”, “plan”, “could”, “may”, “project”, “goal”, “target” and similar expressions often identify

forward-looking statements but are not the only way we identify these statements. Specific statements have been made regarding the Company’s intention

to deploy fiber optic network with a massive coverage of potential households in Israel within 3-4 years, to become a key player in the market by increasing

market share and to potentially share infrastructure CAPEX through cooperation and/or potential wholesale; the Company’s expectation for approximately 7

years payback period for the Company’s fiber optic network; the Company’s expectation for stability in CAPEX relating to the fiber optic network; the

Company’s expectation for television service potential ARPU growth through expansion of content packages and applications and the Company’s expected

level of indebtedness in the coming years; In addition, all statements other than statements of historical fact included in this press release regarding our

future performance are forward-looking statements. We have based these forward-looking statements on our current knowledge and our present beliefs

and expectations regarding possible future events. These forward-looking statements are subject to risks, uncertainties and assumptions, including, the

Company’s technical and financial ability to realize the anticipated benefits from the investment in the Company's fiber optic infrastructure and TV service in

light of competition and to increase profitability in the fixed-line segment and establish the Company as a leading communications infrastructure company;

as well as the Company’s ability to satisfy its financial and other covenants, and to meet future repayment schedules. Future results may differ materially

from those anticipated herein. For further information regarding risks, uncertainties and assumptions about Partner, trends in the Israeli telecommunications

industry in general, the impact of current global economic conditions and possible regulatory and legal developments, and other risks we face, see “Item 3.

Key Information - 3D. Risk Factors”, “Item 4. Information on the Company”, “Item 5. Operating and Financial Review and Prospects”, “Item 8. Financial

Information - 8A. Consolidated Financial Statements and Other Financial Information - 8A.1 Legal and Administrative Proceedings” and “Item 11. Quantitative

and Qualitative Disclosures about Market Risk” in the Company’s Annual Reports on Form 20-F filed with the SEC, as well as its immediate reports on Form 6-

K furnished to the SEC. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information,

future events or otherwise.

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CompanyOverview

Partner Highlights� A leading Israeli communications group

� Saban Saban Saban Saban Capital Group Capital Group Capital Group Capital Group - Controlling shareholder since 2013

� More than 3 3 3 3 million connections million connections million connections million connections in all activities

� Fastest growing TV platform Fastest growing TV platform Fastest growing TV platform Fastest growing TV platform in Israel with 79K new subs in 2018 (184% annual growth), 140K in total to date and over 8% Market Share (MS) within 1.5 year

� Approx. 75% of TV subscribers are in bundle/triple offerings (broadband based)

� Fastest deployment Fastest deployment Fastest deployment Fastest deployment of Fiber Optic network in Israel–Over Over Over Over 350350350350K households reached K households reached K households reached K households reached –nearly 20202020% of% of% of% of

potential households in Israelpotential households in Israelpotential households in Israelpotential households in Israel–Intention to deploy F.O network with a massive coverage of potential Intention to deploy F.O network with a massive coverage of potential Intention to deploy F.O network with a massive coverage of potential Intention to deploy F.O network with a massive coverage of potential

households in Israel within households in Israel within households in Israel within households in Israel within 3333----4 4 4 4 yearsyearsyearsyears

� OPEX savings OPEX savings OPEX savings OPEX savings - replacing current wholesale infrastructures with our independent infrastructure

� Strong balance sheet with 1.3 1.3 1.3 1.3 net net net net debt/EBITDA debt/EBITDA debt/EBITDA debt/EBITDA ratio

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Partner leading Israeli Telco group

Cellular 25% MS

Broadband and ISP operation

Business SolutionsLeading

service provider

Partner TV Over 8% MS

within 1.5 years

Partner FiberNearly 20%

fiber deployment

+350 Khouseholds reached*

140 K sub.*2,646 K sub.

More than 3 million connections in all activities

* As of March 27, 2019

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Q4 2018 highlights*

* Changes vs. Q4 2017. See also Company’s annual PR for 2018.

** Notes payable and borrowings less cash & cash equivalents (incl. ST deposits) divided by Adjusted EBITDA for the last 4 quarters.

*** Includes M2M subscriptions on a standardized basis as from Q4 2018.

OPEX(NIS, M)

Net Debt/Adjusted EBITDA**

Cellular Post-Paid subscribers annual growth

TV subscribers annual growth

502 1.3

***K53 + +79 KFastest Growth in

the market

Lowest level among leading traded Israeli

telco groups

Cellular churn rate

8.5%

-1.4 ppt

Adjusted EBITDA (NIS, M)

172

March 27, 2019:Partner TV has Partner TV has Partner TV has Partner TV has 140,000

Subscribers & Partner Fiber Partner Fiber Partner Fiber Partner Fiber reaches over 350,000

households

Service Revenues (NIS, M)

625

Stable +9%

-3%

+2 ppt

21%

6

TOTALCOMMUNICATIONS

NEEDS

Comprehensive Solutions for businesses

Enabling the connected life anywhere, anytime and on any device

Meet the full spectrum of our customers’ communications needs

Customer Centric

At the forefront of innovation in the world of infrastructure and services

Making services and CS accessible using the most innovative tools

Be truly digital in how we think, act and collaborate

Monetize datathrough enhanced efficiency improvement of our current offering

Offering and creation of valuable new activities

Communication Group with a full offering to the Private & Business customer

Partner’s strategy

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Partner Group LOB

Cellular Broadband & Fiber TV BusinessSolutions

8

Partner's Cellular networkProviding the widest 4G deployment in the country(Based on benchmark data of Drive Test across Israel during 2018)

Over 2,900 sites, covering 99% of Israeli population

Preparing for 5G

Completion of cover and call continuityby WiFi calling

First to launch a VoLTE service

9

Network sharing agreement with HOT Mobile

Cost savingson the one hand

Key benefits

� Savings in CAPEX and OPEX

� Inherent hedging of OPEX with the growth of HOT Mobile

� Reduction in number of network sites

� Improved network coverage and capacity

� Optimal utilization of existing spectrum

…while enabling network differentiation as a result of separate core network

Examples

� IoT

network

� WiFi

calling

� VoLTE

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* * * * ARPU for Q2 2018, excluding a one-time provision of NIS 15 million for a class action, is NIS 59

6562

58 59 58 5760

57

2016 2017 2018 Q4'17 Q1'18 Q2'18 Q3'18 Q4'18

*

Cellular ARPU & Churn

40%38%

35%

9.9% 8.9%10.1%

8.0% 8.5%

2016 2017 2018 Q4'17 Q1'18 Q2'18 Q3'18 Q4'18

Cellular churn (%) Cellular ARPU (NIS)

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Over 50 top linear channels + Catch up

Innovative UI allowing quick and easy integration with 3rd party app content

Partnership with Netflix

Collaboration with Amazon Prime Video

Flexible content costs model

SVOD, TVOD offering with Israeli broadcasters and major studios

Fastest growing TV platform in Israel

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* Annual change for 4 quarters ended Q3 2018

� Potential ARPU growth through expansion of content packages/apps

� Fastest pace of subscriber recruitment

� Innovative OTT technology among the world’s best

� Competitors will need to adjust technology – involves massive CAPEX spend

� Launched only in August 2017 and has already become a significant market player

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Partner TV subscriber base (EOP, '000s)

14

43

65

83

106

122

140

Q3'17 Q4'17 Q1'18 Q2'18 Q3'18 Q4'18 Mar. 27, 2018

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Fiber deployment: Aiming for the mass marketFiber deployment: Aiming for the mass marketFiber deployment: Aiming for the mass marketFiber deployment: Aiming for the mass market

Deployment throughout the country, starting with higher ROI areas

Speeds of up to 1 Gbps and as part of bundle offerings

Growth potential through an increase in market share to become a key player in the market

OPEX savings - replacing wholesale infr. with independent infr.

Potential infr. CAPEX sharing through cooperation and/or potential wholesale

Low deployment cost compared to other companies in the world

Approx. 75% of TV subscribers are in bundle/triple offerings (broadband based)

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Partner's Fiber Optic network

Intention to deploy Fiber Optic network with a massive coverage of potential households in Israel within 3-4 years

CAPEX relating to Fiber Optic network expected to remain stable from 2018

Expected payback period of 7 years Fiber Optic network subscribers have much higher contribution margin than wholesale internet subscribers

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Fiber deployment: Aiming for the mass marketFiber deployment: Aiming for the mass marketFiber deployment: Aiming for the mass marketFiber deployment: Aiming for the mass market

Partner's Fiber Optic network

Or YehudaOr AkivaAshdodAshkelonBe'er Ya'akovBeer ShevaBnei BrakBat YamGivat ShmuelGivatayimGanei TikvaHod HasharonHerzliyaHaderaHolonHaifaYavneYehud-MonossonYokne'am

JerusalemKfar SabaLodNess ZionaNesherPetah TikvaKiryat OnoKiryat AtaQiryat GatKiryat YamRosh HaAyinRishon LezionRamlaRamat GanRamat-HasharonRa'ananaTel Aviv- Jaffa

Presence over 50% of the

cities in Israel

Reached 350K households

within 1.5 years

Presence over 50% of the

cities in Israel

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Integrated Hybrid SolutionsIntegrated Hybrid SolutionsIntegrated Hybrid SolutionsIntegrated Hybrid Solutions

Hosting IT Integration

Cellular IntegrationNetworking Security

International Communications

Wired Telephony

Partner's Business Solutions

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Connected & Autonomous

Vehicles

Smart Home

Smart Cities

Industrial Automation

Smart Health

Tracking Devices

New Hobbies

Infrastructure & IoT ProMachines are the customers of the futureMachines are the customers of the futureMachines are the customers of the futureMachines are the customers of the future

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Financial Overview

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Adjusted EBITDA and Adjusted FCFSignificant CAPEX outlay in new revenue engines of fiber optic network and TV in 2018

Adjusted EBITDA* & Adjusted EBITDA margin (NIS, million)

Adjusted Free Cash Flow (before interest) (NIS, million)

* Adjusted EBITDA figures from 2017 include impact of adoption of IFRS 15. For more details see the Company’s 20-F report.

**Adjusted EBITDA, Adjusted EBITDA margin and Adjusted Free cash flow are Non-GAAP financial measures. Please see “Use of Non-GAAP Financial Measures” in the quarterly PRs.

566

758

599

124 63-22

2015 2016 2017 2018 Q4'17 Q4'18

876 834 917 722

158 172

21%24%

28%

22%

19%21%

0%

5%

10%

15%

20%

25%

30%

35%

40%

-

500

1,000

1,500

2,000

2,500

2015 2016 2017 2018 Q4'17 Q4'18

Adjusted EBITDA Adjusted EBITDA margin

21

Net Debt decreased by ~ 38% in two years

Debt figures for year-end 2019 include a deferred issuance of Notes Series F in an amount of NIS 227 million in December 2019.

Repayment Schedule Notes & Loans a/o December 31, 2018 (NIS, million)

Debt/Net Debt (NIS, billion)

5.4 5.2

4.7

4.4

4.0

3.5 3.4 3.3 3.6

3.1 2.9

2.7

2.0 1.9

1.6 1.4

1.7

4.9 4.6

4.2

3.8

3.4

3.0 2.7 2.6 2.6

2.2 2.0

1.5

1.1 0.9 0.9 1.0

DEBT NET DEBT

22

1.21.0 1.0 1.1 1.2 1.3 1.3

Q2'17 Q3'17 Q4'17 Q1'18 Q2'18 Q3'18 Q4'18

Net Debt to Adjusted EBITDA*

*Notes payable and borrowings less cash & cash equivalents (incl. ST deposits) divided by Adjusted EBITDA for the last 4 quarters

23

Equipment Stable profit and quality sales

Equipment revenues and gross profit

204 201 177 168

189

40 43 37 44 42

20%21% 21%

26%

22%

0 %

5 %

10 %

15 %

2 0%

2 5%

-

2 0 0

4 0 0

Q4'17 Q1'18 Q2'18 Q3'18 Q4'18

% total revenues

NIS million

Equipment Revenues Equipment Gross Profit Equipment Gross Margin

24

Balance sheet a/o December 31, 2018AssetsAssetsAssetsAssets NIS million Liabilities and EquityLiabilities and EquityLiabilities and EquityLiabilities and Equity NIS million

Cash and cash equivalents & ST deposits 416 Current maturities of notes payable & borrowings 162

Trade receivables and other current assets 740 Trade payables 711

Inventories 98 Other current liabilities 277

Current AssetsCurrent AssetsCurrent AssetsCurrent Assets 1,2541,2541,2541,254 Current LiabilitiesCurrent LiabilitiesCurrent LiabilitiesCurrent Liabilities 1,1501,1501,1501,150

Trade receivables & other non-current assets 487 Long term notes payable & borrowings 1,204

Property and equipment 1,211 Other non-current liabilities 216

Goodwill 407 Non Current LiabilitiesNon Current LiabilitiesNon Current LiabilitiesNon Current Liabilities 1,4201,4201,4201,420

Intangible and other assets 617

Non Current AssetsNon Current AssetsNon Current AssetsNon Current Assets 2,7222,7222,7222,722 EquityEquityEquityEquity 1,4061,4061,4061,406

Total AssetsTotal AssetsTotal AssetsTotal Assets 3,9763,9763,9763,976 Total Liabilities and EquityTotal Liabilities and EquityTotal Liabilities and EquityTotal Liabilities and Equity 3,9763,9763,9763,976

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Competitive Advantages

Cellular network with the widest deployment of LTE/LTE Advanced in Israel

Strong and experienced management team

Highest growth rate among TV operators in Israel in 2018

Lowest financial debt level and lowest net debt/EBITDA ratio of all the leading traded communication groups in Israel

Fastest deployment of fiber optic infrastructure in Israel – will enable OPEX savings - replacing current wholesale infrastructure charges

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Partner’s strengths

First to offer roaming to customers in Israel, First to offer SMS in Israel, First to offer 3G & 4G in Israel, First to offer Wi-Fi Calling and VoLTE in Israel

Widest 4G coverage, leading customer service, network sharing agreement, more than 22 hundred kilometers of fiber optics

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

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

InnovativeInnovativeInnovativeInnovative

DNADNADNADNA

BillingBillingBillingBilling

RelationsRelationsRelationsRelations

DefinedDefinedDefinedDefined

StrategyStrategyStrategyStrategy

StrongStrongStrongStrong

FoundationsFoundationsFoundationsFoundations

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TamirTamirTamirTamir AmarAmarAmarAmar

CFO

+972 (54) 781 4951

Liat Glazer ShaftLiat Glazer ShaftLiat Glazer ShaftLiat Glazer Shaft

Head of Investor Relations & Corporate Projects

+972 (54) 781 5051

investors@partner.co.il

Investor website: Investor website: Investor website: Investor website:

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

IR contacts

Thank youThank you