The Phoenix Holdings Ltd.

Legal Proceedings Report • Dec 10, 2023

Re: Central District Court approves a motion to certify a claim as a class action against The Phoenix Insurance Company Ltd. - 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:	10/12/2023
	www.isa.gov.il			www.tase.co.il				Reference:	2023-01-111853	Time of broadcast: 11:27 11:27

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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:   _________   _________   _________

On December 5, 2023, the Central District Court issued a decision approving the motion to certify the claim as a class action (the "Approval Decision") which was filed against a subsidiary of the Company, The Phoenix Insurance Company Ltd. ("Phoenix Insurance") and against four other insurance companies (hereinafter collectively: "the Defendants"), and which concerns the claim that, in case of vehicle theft or total loss as a result of an accident, the Defendants refuse to reimburse policyholders for the proportionate share of the insurance premiums (the premium) paid for service contracts (road recovery services, windscreen repair, towing, etc.) in respect of the period subsequent to the theft or total loss, despite the fact that the service contract is canceled and the risk it covers no longer exists (see the details in the immediate report of August 19, 2019 (reference number 2019-01-071694) and in note 7a(22) to the company's financial statements for the day of 30 in September 2023, which were published on November 29, 2023 (reference no. 2023-01-107977)) As part of the Approval decision, it was determined that the group on whose behalf the class action will be conducted is anyone who purchased from the Defendants, in addition to comprehensive insurance, any services within the framework of a service letter, as defined in section 40 of the Law on the Supervision of Financial Services (Insurance), 1981, the vehicle for which the service letter was issued was stolen or suffered a total loss (including a loss properly) as a result of the accident (or other reason), and he did not receive a refund of the proportional part of the premium paid by him for the service letters, for the contract period of the service letter that remained after the event, all of this in relation to the service period that took place, in its entirety or part, starting seven years before the submission of the motion to certify the claim as class action and until the submission of the class action, after its approval. It was also determined that the main common questions are whether, in the existing legal and factual situation, the Defendants are obligated to return a proportional part of the payment they collected for the letters of service in cases of total loss; And should it be ordered to change the condition stipulated in this regard in the service letters of some of the Defendants, which excludes restitution for the remainder of the period, in these cases. Phoenix Insurance is studying the approval decision and is considering its next steps and in its estimation, the Approval Decision is not expected to have a material impact on the company.

Attached hereto is a report on	Re: Central District Court approves a motion to certify a claim as a class action against The Phoenix Insurance Company Ltd. - Immediate Report

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	Reference to parallel Hebrew report:	2023-01-133083
	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 5 December 2023 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: 05/12/2023
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