Note 18:- RELATED PARTies TRANSACTIONS

During the years ended December 31, 2025, 2024 and 2023, Asseco provided back-office services, professional services and fixed assets to Sapiens’ wholly owned subsidiary, Sapiens Poland, in amounts totaling approximately $156, $168 and $165, respectively.

During the years ended December 31, 2025, 2024 and 2023, Sapiens Poland performed services as a sub-contractor on behalf of Asseco for clients of Asseco in total amounts of approximately $3,400, $3,900 and $3,500, respectively. For historic reasons, Asseco issues invoices to those clients and then Sapiens in turn invoices Asseco on a back-to-back basis (with no margin to Asseco).

As of December 31, 2025 and 2024 the Group had trade payable balances due from its transactions with Asseco, as detailed above, in amounts of $716 and $3,633, respectively. As of December 31, 2025 and 2024, the Group had trade receivables balances due from its transactions with Asseco, as detailed above, in amounts of approximately $0 and $823, respectively.

Sapiens paid Formula director fees for the years ended December 31, 2025, 2024 and 2023, of approximately $40, $32 and $28, respectively, in respect of Mr. Guy Bernstein, Sapiens’ Chairman and Formula’s chief executive officer.

Matrix paid Formula director fees for the years ended December 31, 2025, 2024 and 2023, of approximately $30, $29 and $27, respectively, in respect of Mr. Guy Bernstein, Matrix’s Chairman and Formula’s chief executive officer.

The following amounts disclosed in the table are recognized as an expense or as a equity reduction during the reporting period related to officers and directors of the Company:

The Group’s subsidiaries and affiliates engage from time to time with each other in non-material transactions, in the ordinary course of business, where the amounts involved, and the nature of the transactions, are not material for either of the parties. The Group believes that these transactions are made on an arms’ length basis upon terms and conditions no less favorable to the Group, its subsidiaries and affiliates, as it could obtain from unaffiliated third parties. If Group engages with its subsidiaries and affiliates in transactions which are not in the ordinary course of business, the Group receives the approvals required under the Companies Law. These approvals include audit committee approval, board approval and, in certain circumstances, shareholder approval.