The Phoenix Holdings Ltd.

Notice of Dividend Amount • May 18, 2025

Re: Dividend Distribution Policy UpdateThe Company announces that on May 15, 2025 the Board of Directors approved an update to the dividend distribution policy such that dividends will now be distributed on a quarterly basis instead of semi-annually. As a result, beginning with the publication of the financial results for the first quarter of 2025, the Company will distribute dividends quarterly. Apart from the change in distribution frequency, there will be no other changes to the policy. The Company will continue to distribute a dividend of at least 40% of its annual audited comprehensive income available for distribution. It is clarified that amounts used by the Company for share buyback plans will not be included in dividend distributions.It is further clarified that this policy change does not constitute a commitment by the Company to actually distribute a dividend. Any actual distribution will be subject to specific approval by the Board of Directors at its sole discretion. The Board may decide to distribute different (higher or lower) amounts or not to distribute any dividend at all. Any actual distribution will also be subject to applicable legal requirements, including the Israeli Companies Law, 1999, financial covenants undertaken or that may be undertaken by the Company, availability of distributable income at the relevant times, and considerations regarding the Company�s bond conditions, cash flow situation, and cash needs for ongoing operations and future investments, as they may arise. The Board may review the dividend distribution policy from time to time and decide to change it, including the dividend rate, based on business considerations and applicable laws and regulations. false

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PHOENIX FINANCIAL LTD
Corporation no: 520017450	14969
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	Israel Securities Authority			Tel Aviv Stock Exchange		�150 ( Public )		Reported via MAGNA:	18/05/2025
	www.isa.gov.il			www.tase.co.il				Reference:	2025-01-034417	Time of broadcast: 07:30 07:30

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The corporation scheduled the publication of the report to 18/05/2025 09:00English language report to Israeli corporateThis form is for reports that has been translated to English (convenience translation) and should be published alongside with the report in Hebrew in accordance with the Securities Regulations (Periodic and Immediate Reports), 5730 - 1970.

References of previous reports relating to this matter:   _________   _________   _________

_________

Attached hereto is a report on

Re: Dividend Distribution Policy Update The Company announces that on May 15, 2025 the Board of Directors approved an update to the dividend distribution policy such that dividends will now be distributed on a quarterly basis instead of semi-annually. As a result, beginning with the publication of the financial results for the first quarter of 2025, the Company will distribute dividends quarterly. Apart from the change in distribution frequency, there will be no other changes to the policy. The Company will continue to distribute a dividend of at least 40% of its annual audited comprehensive income available for distribution. It is clarified that amounts used by the Company for share buyback plans will not be included in dividend distributions. It is further clarified that this policy change does not constitute a commitment by the Company to actually distribute a dividend. Any actual distribution will be subject to specific approval by the Board of Directors at its sole discretion. The Board may decide to distribute different (higher or lower) amounts or not to distribute any dividend at all. Any actual distribution will also be subject to applicable legal requirements, including the Israeli Companies Law, 1999, financial covenants undertaken or that may be undertaken by the Company, availability of distributable income at the relevant times, and considerations regarding the Company�s bond conditions, cash flow situation, and cash needs for ongoing operations and future investments, as they may arise. The Board may review the dividend distribution policy from time to time and decide to change it, including the dividend rate, based on business considerations and applicable laws and regulations.

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	Reference to parallel Hebrew report:	2025-01-034416
	This report was not reported in Hebrew.

Details of the authorized signatories to sign on behalf of the corporation:

	Name of the signer	Corporate Role
1	Elad Sirkis	Secretary _________

Note: According to Rule 5 of the Periodic and Immediate Reports Regulations (1970), a report submitted under these Regulations will be signed by the authorized persons to sign on behalf of the corporation. For the ISA staff notice Click here .2 2

note that the above report is a convenience translation only and the parallel Hebrew immediate report is the binding report.
References of previous documents relating to this matter(the reference does not constitute incorporation by reference):
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Stock Exchange/Market: ������	Date of revision of form structure: 06/08/2024
Address: ��� ����� 53 , ������� 53454   , Tel: 03-7332997 , 03-7338174 Fax: 03-7238855
E-mail address: menin@fnx.co.il
Previous names of reporting entity: ������ ������ ��"�, ������ ������� ���� ����� ��"�
Name of the Signatory: ������ ���� Position of Signatory in the reporting corporation: Name of Employer Company: ������ ���� ������ ��"�
Address: ��� ����� 53 , ������� 5345433 Telephone: 074-7315656 Facsimile: 03-7238855 E-mail: Elads1@fnx.co.il 1