The Phoenix Holdings Ltd.

Legal Proceedings Report • Aug 20, 2024

Re: Central District Court approves a settlement agreement in a class action lawsuit filed against The Phoenix Insurance Company Ltd. (subsidiary) - Immediate Report false

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THE PHOENIX HOLDINGS LTD
Corporation no: 520017450	14969
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	Israel Securities Authority			Tel Aviv Stock Exchange		�150 ( Public )		Reported via MAGNA:	19/08/2024
	www.isa.gov.il			www.tase.co.il				Reference:	2024-01-085071	Time of broadcast: 21:49 21:49

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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: Central District Court approves a settlement agreement in a class action lawsuit filed against The Phoenix Insurance Company Ltd. (subsidiary) - Immediate Report The Company announces that on August 15, 2024, the Central District Court issued a judgment approving the settlement agreement submitted by the parties in the class action lawsuit filed against a subsidiary of the Company, The Phoenix Insurance Company Ltd. ("Phoenix Insurance"), and against six additional insurance companies. The lawsuit concerned allegations of inappropriate collection of a fee referred to as "policy factor" which negatively impacted the savings accumulated for the insured in life insurance policies (see details in the immediate reports dated June 21, 2023 (Reference No. 2023-01-057877) and May 6, 2024 (Reference No. 2024-01-047646), as well as in Note 7A1(1) to financial statements as of March 31, 2024, published on May 29, 2024 (Reference No. 2024-01-055752)). As part of the approval of the settlement, the court approved, among other things, the parties' agreements regarding the restitution to class members for the past, including the restitution rate (42%), and ordered, according to the authority granted by the parties regarding the adjustment of restitution amounts, that 90% of the returns from the period starting from the beginning of 2013 until the date of the reduction of future collections of the "policy factor" be added to these amounts; the rate of future collection reduction of the "policy factor" (50%); the agreed-upon legal fees of the class representative's counsel as per the settlement agreement, and also determined that the reward to the class representative will be deducted from the aforementioned legal fees. As detailed in the aforementioned immediate reports, Phoenix Insurance has an appropriate balance sheet provision for the settlement approved by the court, and therefore the approval of the settlement is not expected to affect the financial statements. Phoenix Insurance is working to implement the settlement agreement.

Attached hereto is a report on	Re: Central District Court approves a settlement agreement in a class action lawsuit filed against The Phoenix Insurance Company Ltd. (subsidiary) - Immediate Report

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	Reference to parallel Hebrew report:	2024-01-083649
	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 18 August, 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 , ������� 5345433 Telephone: 074-7315656 Facsimile: 03-7238855 E-mail: Elads1@fnx.co.il 1