The Phoenix Holdings Ltd.

Capital/Financing Update • Mar 26, 2025

Re: The Phoenix Capital Raising (2009) Ltd.- issuance of two new bond series in total NIS 800 Par value 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:	26/03/2025
	www.isa.gov.il			www.tase.co.il				Reference:	2025-01-020849	Time of broadcast: 15:48 15:48

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English 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:   _________   _________   _________

Re: The Phoenix Capital Raising (2009) Ltd.- issuance of two new bond series in total NIS 800 Par value The Company is announcing that a second-tier subsidiary of the Company, The Phoenix Capital Raising (2009) Ltd. ("Phoenix Capital Raising") which engages in raising sources of funding for The Phoenix Insurance Company Ltd. (a subsidiary of the Company)("Phoenix Insurance"), published immediate reports of a rating by the rating companies, Midrog Ltd. (Aa2il rating with a positive horizon) and S&P Global Ratings Ma'alot Ltd. (rating ilAA), for the issuance of two new series of deferred notes, series 16 and 17("New Bonds") through a shelf offer report published by Phoenix Capital Raising in the amount of up to NIS 800 million P.V.. which in return will be deposited with Phoenix Insurance. The consideration will be used, inter alia, for early redemption of Series H issued by Phoenix Capital Raising, to the extent that Phoenix Capital Raising will decide on early redemption. It shall be emphasized that as of the date of this Immediate Report, the date of public offering, scope, and terms of the New Bonds which will be offered to the public by Phoenix Capital Raising (insofar as they are offered) have not yet been finally determined, and nothing in this immediate report shall impose any liability on the part of Phoenix Capital Raising to act to offer the said New Bonds. It shall also be clarified that the publication of the shelf offering report by The Phoenix Capital Raising is subject to all approvals required by law, including the approval of Phoenix Capital Raising and Phoenix Insurance board of directors to raise capital (including in connection with the terms and structure of the public offering and including in connection with the publication of the shelf offering report), approval of the TASE for listing the new bonds for trading and the publishing of a shelf offering report. Accordingly, there is no certainty that the public offering will be carried out. Nothing in this immediate report constitutes an offer to the public and/or an invitation to purchase the Company's securities.

Attached hereto is a report on	Re: The Phoenix Capital Raising (2009) Ltd.- issuance of two new bond series in total NIS 800 Par value

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	Reference to parallel Hebrew report:	2025-01-020743
	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 attached report is a convenience translation only and the parallel Hebrew immediate report which was published 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