The Phoenix Holdings Ltd.

Capital/Financing Update • Oct 22, 2023

The Company is examining the possibility of issuing additional Series 5 and/or Series 6 bonds false

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THE PHOENIX HOLDINGS LTD
Corporation no: 520017450	10820
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	Israel Securities Authority			Tel Aviv Stock Exchange		�150 ( Public )		Reported via MAGNA:	22/10/2023
	www.isa.gov.il			www.tase.co.il				Reference:	2023-01-096760	Time of broadcast: 13:10 13:10

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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:   _________   _________   _________

The Company announces that it is examining the possibility of issuing additional Series 5 bonds and/or Series 6 bonds, totaling up to NIS 350 million p.v., as part of the expansion of the series(s), by way of publication of a shelf offer report pursuant to which it will be offered to the public, in a uniform offer, to be listed for trading on the Tel Aviv Stock Exchange Ltd., pursuant to a shelf prospectus of the Company published on August 23, 2022, subject date August 24, 2022 (reference no.: 2022-01-107443) This information constitutes inclusion by reference) (the "Bonds", "TASE" and the "Offering under Consideration", respectively, and as applicable). The proceeds of the offering are expected to be used by the Company for its ongoing needs and those of the Company's subsidiaries, as well as to expand the financial flexibility of the Company and its subsidiaries, including preparing for various business opportunities, as a result of the war that broke out on October 7, 2023. As of this immediate reporting date, the date of the issuance under consideration and its terms have not yet been finalized, and nothing contained in this immediate report shall create any obligation on the part of the Company to act to offer such Bonds and/or to complete the Offering under Consideration. It is hereby clarified that the publication of the shelf offer report and the execution of the offer pursuant thereto (if and to the extent that it is made) is subject to receipt of all the approvals required by law, including the approval of the Company's Board of Directors (including in connection with the date of such offer and its terms and including in connection with the publication of the shelf offer report), receipt of up-to-date rating reports from S&P Global Ratings Maalot Ltd. and Midroog Ltd., receipt of TASE approval for the listing of the Bonds for trading, and publication of a shelf offer report. It should also be clarified that there is no certainty that the said proposal

Attached hereto is a report on	The Company is examining the possibility of issuing additional Series 5 and/or Series 6 bonds

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	Reference to parallel Hebrew report:	2023-01-096646
	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 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 , ������� 53454 Telephone: 03-7332997 Facsimile: 03-7238831 E-mail: menin@fnx.co.il 1