The Phoenix Holdings Ltd.

Legal Proceedings Report • Jan 22, 2023

Re: An Appeal to the Supreme Court on Judgment of the District Court in Tel Aviv which rejected motion to certify a claim as a class action against The Phoenix Pension and Provident Fund Ltd. The Company is hereby announcing that on January 19, 2023, the plaintiffs filed an appeal to the Supreme Court on the Judgment of the District Court in Tel Aviv dated November 22, 2022, which rejected their motion to certify a claim as a class action (hereinafter: "The Judgment"), which was filed against a subsidiary of the Company, The Phoenix Pension and Provident Fund Ltd. (hereinafter: "The Phoenix Pension and Provident") as well as against 4 management companies of additional pension funds (hereinafter, collectively: "The Defendants"), and which concerns with the claim that the Defendants pay agents fees and commissions calculated as a percentage of the management fees charged by them, thus allegedly violating their fiduciary duties, and as a result, the management fees that plan holders are charged are higher than the appropriate rate (See detailed in the Immediate Report dated November 23, 2022 (Reference No. 2022-01-112368), and in Note 7b(11) to the Company's financial statements for September 30, 2022, which were published on November 30, 2022 (Reference No. 2022-01-115344).The Phoenix Pension and Provident is studying the Statement of Appeal. false

������ ������ ��"�	1 818
THE PHOENIX HOLDINGS LTD
Corporation no: 520017450	10820
- - -

	Israel Securities Authority			Tel Aviv Stock Exchange		�150 ( Public )		Reported via MAGNA:	22/01/2023
	www.isa.gov.il			www.tase.co.il				Reference:	2023-01-008611	Time of broadcast: 13:17 13:17

---

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: An Appeal to the Supreme Court on Judgment of the District Court in Tel Aviv which rejected motion to certify a claim as a class action against The Phoenix Pension and Provident Fund Ltd. The Company is hereby announcing that on January 19, 2023, the plaintiffs filed an appeal to the Supreme Court on the Judgment of the District Court in Tel Aviv dated November 22, 2022, which rejected their motion to certify a claim as a class action (hereinafter: "The Judgment"), which was filed against a subsidiary of the Company, The Phoenix Pension and Provident Fund Ltd. (hereinafter: "The Phoenix Pension and Provident") as well as against 4 management companies of additional pension funds (hereinafter, collectively: "The Defendants"), and which concerns with the claim that the Defendants pay agents fees and commissions calculated as a percentage of the management fees charged by them, thus allegedly violating their fiduciary duties, and as a result, the management fees that plan holders are charged are higher than the appropriate rate (See detailed in the Immediate Report dated November 23, 2022 (Reference No. 2022-01-112368), and in Note 7b(11) to the Company's financial statements for September 30, 2022, which were published on November 30, 2022 (Reference No. 2022-01-115344). The Phoenix Pension and Provident is studying the Statement of Appeal.

_________

	Reference to parallel Hebrew report:	2023-01-010002
	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 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: 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