TUFN.US Merger with Israeli Tax elections

TUFIN SOFTWARE TECHNOLOGIES LTD. (TUFN.US) has announced a merger offer with Israeli tax election options, where holders can choose to be exempt from tax (0%), participate with variable tax rate or tax withholding at 23% or tax withholding at 25%. The Merger Consideration is $13.00 per Company Ordinary Share, in cash, without interest and less any applicable withholding taxes. FUTU is now offering this option to assist with the collection of Israeli tax declaration forms related to the recently completed merger involving Tufin Software Technologies Ltd. and Talon Merger Sub Ltd. Participants are required to complete and submit a tax declaration form via Tax Certification Portal.

When completing the Tax Declaration Form, please carefully read all instructions and fill out the form correctly and completely, or else the form will be subject to rejection. For details, please refer to the instructions in the portal. If necessary, please consult your tax advisor.

Tax Certification Portal

Merger Terms: $13.00 per Company Ordinary Share, in cash, without interest and less any applicable withholding taxes.

Holders can apply to participate in the relevant corporate action as follows:

Option (1) - Take no action [default option]

Option (2) - Exempt from tax (0%) Option, accepting $13.00 USD per share in cash (less any applicable withholding taxes)

Option (3) - ISRAELI TAX WITH HOLDING VARIABLE. (According to the holder's Israeli tax declaration form), accepting $13.00 USD per share in cash (less any applicable withholding taxes)

Option (4) - ISRAELI TAX WITH HOLDING 23%. (for all other warrant holders), accepting $13.00 USD per share in cash (less any applicable withholding taxes)

Option (5) - ISRAELI TAX WITH HOLDING 25%. (for individual warrant holders), accepting $13.00 USD per share in cash (less any applicable withholding taxes)

Please note that if you do not submit an accurately completed Israeli Tax Declaration; together with the requisite supporting documents or a valid tax certificate, the maximum applicable tax rate under Israeili Law will be withheld from your applicable merger consideration. Last date for submissions of declaration through the portal is 08-02-2024.

The deadline to tender shares to the offer will be 08/02/2023@ 16:00 (HONG KONG TIME GMT+8).

In the absence of an election, no action will be taken.

Please fill in the following information and use the registered email address of Futu to send an email to cs@futuhk.com.

1. Account Number/User ID:
2. Name: (In Chinese or English)
3. Stock code: TUFN.US
4. Options: (1) or (2) or (3) or (4) or (5)
5. Number of shares participating in corporate actions:

Note to applicants:
1. For shareholders holding less than 1 share of TUFN.US, they cannot participate in related corporate actions.
2. Option (1) is the default option. We will help clients to choose option (1) if have not received clients’ emails.
3. Once the relevant application is submitted, the stocks participating in the company's actions cannot be traded and the application cannot be withdrawn.
4. This corporate action does not accept additional applications, the maximum number of applications that a client can apply for does not exceed the number of eligible shares it holds.
5. The pending orders and unsettled shares will not be accepted for the time being.
6. Please confirm that the account funds are sufficient to pay the relevant fees of this corporate action. Otherwise, we will not bear any responsibility for the failure of your application.
7. If there is any update, all the information released by the listed company shall prevail.

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