If we say use a place holder link in T1:
T1:
http://www.tase.co.il/TASE/Templates/Company/CompanyHistory.aspx?NRMODE=Published&NRORIGINALURL=%2fTASE%2fGeneral%2fCompany%2fcompanyHistoryData%2ehtm%3fsubDataType%3d0%26companyID%3d002215%26shareID%3d01115112&NRNODEGUID=%7b6BC1C307-4BF8-45C7-99EB-07D3F49DDAA0%7d&NRCACHEHINT=Guest&shareID=^1^&companyID=^2^&subDataType=0
Then
T5:
=SUBSTITUTE(SUBSTITUTE($T$1,"^1^",A5),"^2^",Q5)
copied down
the strings are too long for you to convert to active links via HYPERLINK function it's that's your intention...
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