The Phoenix Holdings Ltd.

Legal Proceedings Report • Sep 5, 2023

Re: Approval of a settlement in a motion to certify a claim as a class action against The Phoenix Insurance Company Ltd. The Company is hereby announcing that on August 30, 2023, The Regional Labor Court in Tel Aviv-Yafo rendered a judgment approving a settlement in a motion to certify a claim as a class action against a subsidiary of the Company, The Phoenix Insurance Company Ltd. (hereinafter: "The Phoenix Insurance"), which concerns with the claim that from the date of the policyholder's death until the actual payment date, The Phoenix Insurance links the funds accumulated in the policy to the Consumer Price Index instead of continuing to link them to the investment track chosen by the policyholder (See detailed in the Immediate Reports dated June 2, 2020 (Reference No. 2020-01-049717), as well as in Note 7a(32) to the Company's financial statements for June 30, 2023, which were published on August 24, 2023 (Reference No. 2023-01-079147)).According to the settlement, The Phoenix Insurance will regulate its future conduct in accordance with the provisions of the settlement and the judgment, thus, that after the death of the policyholder it will link the accumulated funds to the investment track (in addition to collecting management fees), and in relation to the past, it will compensate the group members (as defined in the settlement) in an amount equal to 30% of the amounts they would have received (insofar as they were/are entitled thereto) if the amounts were linked to the investment track (minus management fees); in addition, The Phoenix Insurance will pay compensation to the class action plaintiff and fees to his legal representatives.The amounts by virtue of the aforementioned judgment are not material to The Phoenix Insurance, and a corresponding provision thereabout appears in the financial statements of the Company.This brings the proceeding to an end. false

������ ������ ��"�	1 818
THE PHOENIX HOLDINGS LTD
Corporation no: 520017450	14969
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	Israel Securities Authority			Tel Aviv Stock Exchange		�150 ( Public )		Reported via MAGNA:	04/09/2023
	www.isa.gov.il			www.tase.co.il				Reference:	2023-01-102969	Time of broadcast: 23:20 23:20

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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:   _________   _________   _________

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Attached hereto is a report on

Re: Approval of a settlement in a motion to certify a claim as a class action against The Phoenix Insurance Company Ltd. The Company is hereby announcing that on August 30, 2023, The Regional Labor Court in Tel Aviv-Yafo rendered a judgment approving a settlement in a motion to certify a claim as a class action against a subsidiary of the Company, The Phoenix Insurance Company Ltd. (hereinafter: "The Phoenix Insurance"), which concerns with the claim that from the date of the policyholder's death until the actual payment date, The Phoenix Insurance links the funds accumulated in the policy to the Consumer Price Index instead of continuing to link them to the investment track chosen by the policyholder (See detailed in the Immediate Reports dated June 2, 2020 (Reference No. 2020-01-049717), as well as in Note 7a(32) to the Company's financial statements for June 30, 2023, which were published on August 24, 2023 (Reference No. 2023-01-079147)). According to the settlement, The Phoenix Insurance will regulate its future conduct in accordance with the provisions of the settlement and the judgment, thus, that after the death of the policyholder it will link the accumulated funds to the investment track (in addition to collecting management fees), and in relation to the past, it will compensate the group members (as defined in the settlement) in an amount equal to 30% of the amounts they would have received (insofar as they were/are entitled thereto) if the amounts were linked to the investment track (minus management fees); in addition, The Phoenix Insurance will pay compensation to the class action plaintiff and fees to his legal representatives. The amounts by virtue of the aforementioned judgment are not material to The Phoenix Insurance, and a corresponding provision thereabout appears in the financial statements of the Company. This brings the proceeding to an end.

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	Reference to parallel Hebrew report:	2023-01-083566
	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: 08/08/2023
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