The Phoenix Holdings Ltd.

Regulatory Filings • Jan 1, 2025

Re:Immediate Report � LPT Transaction - UpdateFollowing the Company's immediate report dated December 11, 2024 (Reference No. 2024-01-623472) regarding the engagement of The Phoenix Insurance Company Ltd., a wholly-owned subsidiary of the Company, in a LPT reinsurance agreement with Ayalon Insurance Company Ltd., ("Ayalon") subject to the approval of the Commissioner of the Capital Market, Insurance and Savings Authority, the Company pleased updates as follows:On December 31, 2024, Ayalon received a letter from the Capital Market, Insurance and Savings Authority, indicating that Ayalon is not permitted to recognize the transaction within the framework of calculating the Economic Solvency Ratio, thus the condition for the engagement has not been met.To the best of the Company's knowledge, Ayalon intends to engage in discussions with the Capital Market, Insurance and Savings Authority regarding its aforementioned position. 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:	01/01/2025
	www.isa.gov.il			www.tase.co.il				Reference:	2025-01-000140	Time of broadcast: 10:04 10:04

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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:   _________   _________   _________

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Attached hereto is a report on

Re:Immediate Report � LPT Transaction - Update Following the Company's immediate report dated December 11, 2024 (Reference No. 2024-01-623472) regarding the engagement of The Phoenix Insurance Company Ltd., a wholly-owned subsidiary of the Company, in a LPT reinsurance agreement with Ayalon Insurance Company Ltd., ("Ayalon") subject to the approval of the Commissioner of the Capital Market, Insurance and Savings Authority, the Company pleased updates as follows: On December 31, 2024, Ayalon received a letter from the Capital Market, Insurance and Savings Authority, indicating that Ayalon is not permitted to recognize the transaction within the framework of calculating the Economic Solvency Ratio, thus the condition for the engagement has not been met. To the best of the Company's knowledge, Ayalon intends to engage in discussions with the Capital Market, Insurance and Savings Authority regarding its aforementioned position.

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	Reference to parallel Hebrew report:	2025-01-000060
	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

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