Company: PERI
Filing Date: 2025-03-25
Form Type: 20-F
Source: 0001178913-25-001021
Chunk: 91

Company: Perion Network Ltd.
Filing Date: 2025-03-25
Form: 20-F
Item: Item 5
Chunk 91
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. We also hold a small part of our financial investments in other currencies, mainly NIS and Euro.
The dollar value of those investments may decline. A revaluation of 1% of the foreign currencies (i. e. other than U. S. dollar) would not
have a material effect on our income before taxes possibly reducing it by $0.5 million.

81

A significant portion of our costs, including salaries and office
expenses are incurred in NIS. Inflation in Israel may have the effect of increasing the U. S. dollar cost of our operations in Israel.
If the U. S. dollar declines in value in relation to the New Israeli Shekel, it will become more expensive for us to fund our operations
in Israel. A revaluation of 1% of the New Israeli Shekel will affect our income before tax by approximately $0.4 million. The exchange
rate of the U. S. dollar to the New Israeli Shekel, based on exchange rates published by the Bank of Israel, was as follows:

                               Year Ended December 31,                                                       
                                                  2022                 2023                 2024             
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Average rate for period                                   3.359                3.688                3.701  
  Rate at year-end                                          3.519                3.627                3.647  

  ITEM 12.      DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES  
 ────────────────────────────────────────────────────────────────────────

Not applicable.