The Phoenix Holdings Ltd.

Share Issue/Capital Change • Oct 26, 2023

Re: Private Issuance from The Phoenix Capital Raising (2009) Ltd to the CompanyThe Company announce that on October 25, 2023, the Board of Directors of The Phoenix Capital Raising (2009) Ltd., a second-tier subsidiary of the Company ("Phoenix Capital Raising"), decided on a private issuance to the Company of NIS 317,800,000 par value Deferred Liabilities Deeds Additional Tier 1 (Series XII) of Phoenix Capital Raising (the "Deferred Deeds"), for a total (gross) consideration of NIS 300,003,263.56.It is hereby clarified that the issuance as stated above is subject to receipt of all the approvals required by law, including: (1) the approval of all the relevant authorized organs in the Phoenix Group; (2) to obtain approval from the Commissioner of the Capital Market, Insurance and Savings Authority regarding the recognition of the Deferred Deeds as additional Tier 1 capital of The Phoenix Insurance Company Ltd., a company's subsidiary; (3) to obtain TASE approval for the listing of the Deferred Deeds; and (4) to obtain an updated rating report for the Deferred Deeds from S&P Global Ratings Maalot Ltd. false

������ ������ ��"�	1 818
THE PHOENIX HOLDINGS LTD
Corporation no: 520017450	14969
- - -

	Israel Securities Authority			Tel Aviv Stock Exchange		�150 ( Public )		Reported via MAGNA:	26/10/2023
	www.isa.gov.il			www.tase.co.il				Reference:	2023-01-119013	Time of broadcast: 00:32 00:32

---

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: Private Issuance from The Phoenix Capital Raising (2009) Ltd to the Company The Company announce that on October 25, 2023, the Board of Directors of The Phoenix Capital Raising (2009) Ltd., a second-tier subsidiary of the Company ("Phoenix Capital Raising"), decided on a private issuance to the Company of NIS 317,800,000 par value Deferred Liabilities Deeds Additional Tier 1 (Series XII) of Phoenix Capital Raising (the "Deferred Deeds"), for a total (gross) consideration of NIS 300,003,263.56. It is hereby clarified that the issuance as stated above is subject to receipt of all the approvals required by law, including: (1) the approval of all the relevant authorized organs in the Phoenix Group; (2) to obtain approval from the Commissioner of the Capital Market, Insurance and Savings Authority regarding the recognition of the Deferred Deeds as additional Tier 1 capital of The Phoenix Insurance Company Ltd., a company's subsidiary; (3) to obtain TASE approval for the listing of the Deferred Deeds; and (4) to obtain an updated rating report for the Deferred Deeds from S&P Global Ratings Maalot Ltd.

_________

	Reference to parallel Hebrew report:	2023-01-119007
	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	Adv. 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 is the binding report.
References of previous documents relating to this matter(the reference does not constitute incorporation by reference):
- - -
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