The Phoenix Holdings Ltd.

Related Party Transaction • Dec 11, 2024

Re:Immediate Report � LPT TransactionThe company announces that, in accordance with the Company's P&C insurance strategy, on December 10, 2024, The Phoenix Insurance Company Ltd., a wholly-owned subsidiary of the Company ("Phoenix Insurance"), entered into a Loss Portfolio Transfer (LPT) reinsurance agreement with Ayalon Insurance Company Ltd. ("Ayalon") in the P&C insurance business. Under this agreement, Ayalon acquired reinsurance coverage for 75% of the outstanding claims in employer's liability and third-party liability sectors for the underwriting years 2010 to 2022 ("Insurance Portfolio"). The insurance premium amounts to approximately NIS 930 million ("Insurance Premium"), of which NIS 28 million will be paid to Phoenix Insurance in cash upon the effective date of the agreement. The remaining insurance premium, which is index-linked and bears interest as agreed between the parties, will be held by Ayalon, from which insurance claims within the Insurance Portfolio will be paid. If the remaining Insurance Premium is exhausted, Phoenix Insurance will transfer the necessary payments to cover the claims from its own resources up to an amount of 15% above the Insurance Portfolio amount, which are index-linked.The aforementioned agreement is subject to the approval of the Commissioner of the Capital Market, Insurance, and Savings Authority. false

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PHOENIX FINANCIAL LTD
Corporation no: 520017450	11273
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	Israel Securities Authority			Tel Aviv Stock Exchange		�150 ( Public )		Reported via MAGNA:	11/12/2024
	www.isa.gov.il			www.tase.co.il				Reference:	2024-01-623472	Time of broadcast: 09:29 09:29

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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:   _________   _________   _________

_________

Attached hereto is a report on

Re:Immediate Report � LPT Transaction The company announces that, in accordance with the Company's P&C insurance strategy, on December 10, 2024, The Phoenix Insurance Company Ltd., a wholly-owned subsidiary of the Company ("Phoenix Insurance"), entered into a Loss Portfolio Transfer (LPT) reinsurance agreement with Ayalon Insurance Company Ltd. ("Ayalon") in the P&C insurance business. Under this agreement, Ayalon acquired reinsurance coverage for 75% of the outstanding claims in employer's liability and third-party liability sectors for the underwriting years 2010 to 2022 ("Insurance Portfolio"). The insurance premium amounts to approximately NIS 930 million ("Insurance Premium"), of which NIS 28 million will be paid to Phoenix Insurance in cash upon the effective date of the agreement. The remaining insurance premium, which is index-linked and bears interest as agreed between the parties, will be held by Ayalon, from which insurance claims within the Insurance Portfolio will be paid. If the remaining Insurance Premium is exhausted, Phoenix Insurance will transfer the necessary payments to cover the claims from its own resources up to an amount of 15% above the Insurance Portfolio amount, which are index-linked. The aforementioned agreement is subject to the approval of the Commissioner of the Capital Market, Insurance, and Savings Authority.

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	Reference to parallel Hebrew report:	2024-01-623469
	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 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 , ������� 53454 Telephone: 074-7312701 Facsimile: 03-5717142 E-mail: elis@fnx.co.il 1