Company Update

Emblaze Ltd (LSE:BLZ) ("Emblaze" or "the Company") Company Update Shareholders Agreement Tel Aviv, Israel, 21 March, 2014 Shareholders Agreement Capitalised terms will have the meanings ascribed to them in the Company'sannouncements of 15 August 2013, 22 August 2013, 24 December, 2013, 13 and 16January, 2014 and 14 February 2014. BGI Investments (1961) Ltd, B.G.Alpha Ltd and Israel 18 B.V. (formerly known asChabad 770 B.V.) (the "Shareholders") have informed the Company that ashareholders agreement has been signed by the Shareholders on 20 March 2014(the "Shareholders Agreement"). Pursuant to the Shareholders Agreement: (i) BGI Investments (1961) Ltd shall besolely entitled to appoint members to the board of directors of the Company andits subsidiaries on behalf of the Shareholders (all subject to applicable lawand the Company's articles of association); (ii) Israel 18 B.V. shall grant,before any shareholders meeting of the Company, a power of attorney to BGIInvestments (1961) Ltd or its representative (the "Proxy"), pursuant to whichIsrael 18 B.V. shall empower BGI Investments (1961) Ltd or its representative,to vote at any such shareholders meeting of the Company, with respect to all ofthe voting rights in the Company in respect of which Israel 18 B.V. has votingpower (as long as the subject matter of the general meeting is not illegal orcontrary to the then prevailing regulatory requirements, in the Netherlands orIsrael and/or the resolutions to be taken will cause Israel 18 B.V. tosignificantly reduce the value of its shares of the Company); and (iii) BGIInvestments (1961) Ltd is granted right of first refusal and a tag-along rightin relation to all of Israel 18 B.V.'s shares in the Company. The Shareholders Agreement shall terminate on the earlier of: (i) terminationby mutual consent; (ii) with respect to a Shareholder, when it ceases to be anequity holder of the Company; or (iii) with respect to Israel 18 B.V., when itceases to be the controlling shareholder of BGI Investments (1961) Ltd. Enquiries: Eyal Merdler, CFO: eyal.merdler@emblaze.com The Emblaze Group has been traded on the London Stock Exchange (LSE: BLZ) since1996.

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