The Phoenix Holdings Ltd.

Capital/Financing Update • Jan 29, 2023

Re: Immediate Report - Results of a Public Offering of Bonds According to a Shelf Offering Report from January 26, 2023 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:	29/01/2023
	www.isa.gov.il			www.tase.co.il				Reference:	2023-01-010429	Time of broadcast: 10:06 10:06

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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: Immediate Report - Results of a Public Offering of Bonds According to a Shelf Offering Report from January 26, 2023 In accordance with Section 30 of the Securities Law, 5728-1968, and the Securities Regulations (Notice of Results of the Offer in a Prospectus), 5730-1969, the Company is hereby announcing the results of the public offering of Bonds according to the Shelf Offering Report published by the Company's shelf prospectus ("Shelf Offering Report�). According to the Shelf Offering Report, up to NIS 215,765,000 nominal value of Bonds (Series 6) of the Company were offered to the public, listed by name and with a nominal value of NIS 1 each ("Bonds"), by way of series expansion, in a uniform offer (as defined in the Securities Regulations (Offer of Securities to the public), 5767-2007 ("Offer Regulations")), by way of a unit price Tender, when the minimum price per unit will be NIS 869, all under the conditions set forth in the Shelf Offering Report ("Units" and "Tender", respectively). The Company was given Early Commitments from institutional investors, according to which the institutional investors undertook to submit orders in a Tender for the purchase of NIS 172,612,000 thousand nominal value Bonds, which constitute about 80% of the total number of Units offered to the public in the Tender, as specified in Section 3 of the Shelf Offering Report ("Early Commitments"). The offer of the Units was not secured by underwriting. The results of the Tender are as follows: 1. A total of 40 orders were received for the purchase of 172,612 Units in the Tender (which were received according to the Early Commitments). 2. The price per unit in the Tender was set at a total of NIS 869 ("Closing Price per Unit"). 3. A total of 40 orders were accepted for the purchase of 172,612 Units in the Tender, as follows: 4 orders for the purchase of 16,321 Units received according to the Early Commitments, in which a price per unit equal to the Closing Price per Unit was set - were fully accepted; 36 orders for the purchase of 156,291 Units received according to the Early Commitments, in which a price per unit higher than the Closing Price per Unit was set - were fully accepted; It should be noted that no orders for the purchase of Units were received from the public. 4. Following to the aforementioned in Section 5.1 of the Shelf Offering Report and in accordance with the approval of the Tax Authority (as the term is defined in Section 5.1 of the Shelf Offering Report) regarding the withholding tax on the discounting fees of the Bonds, the discount rate in the bond allocation regarding the Shelf Offering Report is 13.21282% and the uniform weighted discounting rate created for all Bonds is 4.33214%. 5. According to the above Tender results, the Company allocated a total of 172,612 Units, which constitute a total nominal value of NIS 172,612,000. 6. According to the above Tender results, the immediate consideration (gross) that the Company will receive amounts to a total of about NIS 150,000 thousand. The Company thanks the investing public for their response to the Bonds' offering according to the Shelf Offering Report.

Attached hereto is a report on	Re: Immediate Report - Results of a Public Offering of Bonds According to a Shelf Offering Report from January 26, 2023

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	Reference to parallel Hebrew report:	2023-01-012003
	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 & Company 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 on 26.1.2023 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: 29/12/2022
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