The Phoenix Holdings Ltd.

Legal Proceedings Report • Dec 15, 2024

Re: A Claim and a Motion to Certify the Claim as a Class Action Against The Phoenix Insurance Company Ltd. (subsidiary) - Immediate Report Notice is hereby given that a claim has been filed against a subsidiary of the Company, Phoenix Insurance Company Ltd. ("Phoenix Insurance"), and against Hever Permanent Army Soldiers and Pensioners Organization Ltd. ("Hever"), along with a request to approve the lawsuit as a class action, in the Central District Court ("Lawsuit"). The Lawsuit concerns the allegation that Phoenix Insurance, in coordination with Hever, allegedly acted in violation of the law and the policy when it unilaterally and negatively changed the policy for members of the "Hever" group health insurance, after the policy came into effect. Specifically, it is claimed that Phoenix Insurance removed the insurance coverage from the policy that provided "approval for medications via Form 29C," relating to medications not included in the National Healthcare Basket and/or medications included in the National Healthcare Basket but prescribed for a different medical condition than required. According to the plaintiff, Phoenix Insurance continued to collect the same insurance premiums as before the change, thus allegedly overcharging the premiums. According to the plaintiff's assessment, the claimed damage for all group members due to the removal of the insurance coverage and the overcharging of premiums amounts to approximately NIS 468 million. At this stage, Phoenix Insurance is studying the details of the lawsuit, and therefore it is not possible to assess the chances of its approval as a class action, and if it is approved, it is not possible to assess its chances of success. false

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PHOENIX FINANCIAL LTD
Corporation no: 520017450	10820
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	Israel Securities Authority			Tel Aviv Stock Exchange		�150 ( Public )		Reported via MAGNA:	15/12/2024
	www.isa.gov.il			www.tase.co.il				Reference:	2024-01-624203	Time of broadcast: 11:12 11:12

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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: A Claim and a Motion to Certify the Claim as a Class Action Against The Phoenix Insurance Company Ltd. (subsidiary) - Immediate Report Notice is hereby given that a claim has been filed against a subsidiary of the Company, Phoenix Insurance Company Ltd. ("Phoenix Insurance"), and against Hever Permanent Army Soldiers and Pensioners Organization Ltd. ("Hever"), along with a request to approve the lawsuit as a class action, in the Central District Court ("Lawsuit"). The Lawsuit concerns the allegation that Phoenix Insurance, in coordination with Hever, allegedly acted in violation of the law and the policy when it unilaterally and negatively changed the policy for members of the "Hever" group health insurance, after the policy came into effect. Specifically, it is claimed that Phoenix Insurance removed the insurance coverage from the policy that provided "approval for medications via Form 29C," relating to medications not included in the National Healthcare Basket and/or medications included in the National Healthcare Basket but prescribed for a different medical condition than required. According to the plaintiff, Phoenix Insurance continued to collect the same insurance premiums as before the change, thus allegedly overcharging the premiums. According to the plaintiff's assessment, the claimed damage for all group members due to the removal of the insurance coverage and the overcharging of premiums amounts to approximately NIS 468 million. At this stage, Phoenix Insurance is studying the details of the lawsuit, and therefore it is not possible to assess the chances of its approval as a class action, and if it is approved, it is not possible to assess its chances of success.

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	Reference to parallel Hebrew report:	2024-01-624057
	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 on December 12, 2024 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: 03-7332997 Facsimile: 03-7238831 E-mail: menin@fnx.co.il 1