The Phoenix Holdings Ltd.

Legal Proceedings Report • Aug 21, 2023

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 against a subsidiary of the company, The Phoenix Insurance Company Ltd. ("Phoenix Insurance"), along with a request to approve it as a class action, in the Central District Court ("Claim").The subject of the Claim, according to the Plaintiff, is that in situations where there was a positive balance in client accounts, Phoenix Insurance acted illegally, allegedly, by not transferring these funds to the customers - either due to the fact that it transferred the funds to the customers through a check that was not cashed by the customer rather than by bank transfer or credit card reimbursement, or in view of any other reason; by not informing the customers about the funds balance; and by not acting to return these funds. It is also claimed that the customers to whom Phoenix Insurance transferred funds due to the positive balance they had through checks that were cashed, and not via bank transfer or via credit card payment, allegedly suffered damages.The total damage claimed for all the members of the group was not assessed by the plaintiff, but it estimated that it is over NIS 3 million (and possibly tens of NIS million).The plaintiff stated that two requests for approval of similar class actions against two additional insurance companies are pending and that a request for approval of a class action against another insurance company has been erased.At this stage, Phoenix Insurance is studying the details of the Claim, and therefore the likelihood of its approval as a class action cannot be assessed, and if it is approved, the likelihood of its success cannot be assessed. false

������ ������ ��"�	1 818
THE PHOENIX HOLDINGS LTD
Corporation no: 520017450	10820
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	Israel Securities Authority			Tel Aviv Stock Exchange		�150 ( Public )		Reported via MAGNA:	21/08/2023
	www.isa.gov.il			www.tase.co.il				Reference:	2023-01-078016	Time of broadcast: 16:23 16:23

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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: 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 against a subsidiary of the company, The Phoenix Insurance Company Ltd. ("Phoenix Insurance"), along with a request to approve it as a class action, in the Central District Court ("Claim"). The subject of the Claim, according to the Plaintiff, is that in situations where there was a positive balance in client accounts, Phoenix Insurance acted illegally, allegedly, by not transferring these funds to the customers - either due to the fact that it transferred the funds to the customers through a check that was not cashed by the customer rather than by bank transfer or credit card reimbursement, or in view of any other reason; by not informing the customers about the funds balance; and by not acting to return these funds. It is also claimed that the customers to whom Phoenix Insurance transferred funds due to the positive balance they had through checks that were cashed, and not via bank transfer or via credit card payment, allegedly suffered damages. The total damage claimed for all the members of the group was not assessed by the plaintiff, but it estimated that it is over NIS 3 million (and possibly tens of NIS million). The plaintiff stated that two requests for approval of similar class actions against two additional insurance companies are pending and that a request for approval of a class action against another insurance company has been erased. At this stage, Phoenix Insurance is studying the details of the Claim, and therefore the likelihood of its approval as a class action cannot be assessed, and if it is approved, the likelihood of its success cannot be assessed.

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	Reference to parallel Hebrew report:	2023-01-077281
	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 20 August 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: 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 , ������� 53454 Telephone: 03-7332997 Facsimile: 03-7238831 E-mail: menin@fnx.co.il 1