The Phoenix Holdings Ltd.

Legal Proceedings Report • Nov 9, 2023

Re: A Claim and a Motion to Certify the Claim as a Class Action 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:	09/11/2023
	www.isa.gov.il			www.tase.co.il				Reference:	2023-01-123243	Time of broadcast: 21:55 21:55

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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: 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 at the District Court � Tel Aviv-Yafo against a subsidiary of the Company, The Phoenix Insurance Company Ltd. (hereinafter: "The Phoenix Insurance"), against seven additional insurance companies (hereinafter, collectively: �The Defendants�), as well as against the Israel Competition Authority (as a formal respondent), accompanied by a motion to certify the claim as a class action ("The Claim"). The matter of the Claim, according to the plaintiff, is in the allegation that within the pricing premiums in policies in Life, Health and P&C insurance sectors, "Catastrophe Events" such as a "sudden" war and/or other extreme or unexpected event were not included, which reduce the risk and exposure of the Defendants; Due to the "Swords of Iron" conflict, the Defendants are expected to experience a sharp decrease in risk in policies in which the risk components have been significantly reduced (and some of which do not exist), therefore, premiums for these policies must be refunded or reduced, starting from the date of the declaration of the state of emergency; That governmental institutions, public entities, or non-governmental organizations adapted their function in a way that minimizes their activity and reduces the realization of the insurance coverage; and that the risk in policies in the business sector has decreased significantly. Specifically, concerning policyholders recruited under emergency call-up ("8 Order"),, it is claimed that in some of the policies with exclusion for coverage in case of war, the actuarial risk has decreased significantly, and therefore their premiums must be refunded or reduced. The plaintiff claimed that the initial damage assessed by him for all the members of the group amounts to over NIS 2.5 million (in relation to all the Defendants), whereas, in relation to the policyholders recruited in 8 Order the damage assessment is claimed to be approximately NIS 10.02 million (in relation to all Defendants). At this stage, The Phoenix Insurance is studying the details of the Claim, and therefore the chances of its approval as a class action cannot be assessed, and if it is approved, the chances of its success cannot be assessed.

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

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	Reference to parallel Hebrew report:	2023-01-122163
	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	Meni Neeman	Other Chief Legal Officer

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 November 7, 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: 10/10/2023
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