Stress Testing 2026 GMV: Robust Growth Achievable

Research evidence excerpt

Stress Testing 2026 GMV: Robust Growth Achievable

alyst's judgement.

Investment Recommendation Record

(Article 3(1)e and Article 7 of MAR)

Recommendation Published June 5, 2026 16:38 P.M.

Recommendation Distributed June 7, 2026 17:00 P.M.

Company Specific Disclosures

Jefferies Financial Group Inc., its affiliates or subsidiaries make a market in the securities or ADRs of Global-e Online Ltd.

Explanation of Jefferies Ratings

Buy - Describes securities that we expect to provide a total return (price appreciation plus yield) of 15% or more within a 12-month period.

Hold - Describes securities that we expect to provide a total return (price appreciation plus yield) of plus 15% or minus 10% within a 12-month period.

Underperform - Describes securities that we expect to provide a total return (price appreciation plus yield) of minus 10% or less within a 12-month period.

The expected total return (price appreciation plus yield) for Buy rated securities with an average security price consistently below $10 is 20% or more within a 12-

month period as these companies are typically more volatile than the overall stock market. For Hold rated securities with an average security price consistently

below $10, the expected total return (price appreciation plus yield) is plus or minus 20% within a 12-month period. For Underperform rated securities with an

average security price consistently below $10, the expected total return (price appreciation plus yield) is minus 20% or less within a 12-month period.

NR - The investment rating and price target have been temporarily suspended. Such suspensions are in compliance with applicable regulations and/or Jefferies

policies.

CS - Coverage Suspended. Jefferies has suspended coverage of this company.

NC - Not covered.