The Phoenix Holdings Ltd.

Regulatory Filings • Jan 2, 2023

Entering into a Memorandum of Understanding to Establish an Alliance for the Provision of Consumer Credit with Isracard Ltd. and/or Isracard Mimun Ltd. - Immediate Report 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:	02/01/2023
	www.isa.gov.il			www.tase.co.il				Reference:	2023-01-001066	Time of broadcast: 14:11 14:11

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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:   _________   _________   _________

Entering into a Memorandum of Understanding to Establish an Alliance for the Provision of Consumer Credit with Isracard Ltd. and/or Isracard Mimun Ltd. - Immediate Report The Company is hereby announcing that as part of the implementation of the strategic plan for the provision of consumer credit and the appointment of Mr. Eilon Dachbash as the Company's Deputy CEO and Director of the Consumer Credit Division (Immediate Report dated 26.11.2021; Reference No.: 2021-01-113758), on 01.01.2023, The Phoenix Consumer Credit Ltd., a wholly owned (100%) subsidiary of the Company ("The Phoenix Consumer Credit")(1) , signed a Memorandum of Understanding for an alliance in the provision of joint consumer credit "solo" (without collateral) with Isracard Ltd. and/or Isracard Mimun Ltd. ("Isracard"), which will also continue to operate independently in this sector. According to the Memorandum of Understanding, The Phoenix will manage the marketing and sales activities of the joint credit and Isracard will manage the operation of the joint credit including the credit underwriting. The detailed agreement will be for a period of 5 years from the date of commencement of the joint activity. The parties may extend the agreement period by additional 5 years in accordance with the terms that will be agreed upon by the parties. The parties agreed on mechanisms for early termination of the agreement, under exceptional circumstances detailed in the Memorandum of Understanding, including compensation arrangements. The parties agreed to negotiate in order to enter into a detailed agreement and refrain from conducting negotiations in connection with cooperation in the sector of consumer credit provision with other competing parties, for a period of 60 days, commencing on the Memorandum of Understanding signing date. The establishment of the cooperation is subject to the signing of a detailed agreement by The Phoenix Consumer Credit and Isracard, obtaining the approval of the authorized bodies of each of the parties hereto, and obtaining approval from the Competition Authority. It is hereby clarified that currently there is no certainty that The Phoenix Consumer Credit will enter into a detailed agreement with Isracard, and the aforementioned is forward-looking information (as defined in the Securities Law, 5728-1968), whose realization is not certain and is not under the control of the Company alone, and subject, inter alia, to reaching an agreed upon version of the detailed agreement and receiving various approvals as detailed above. The Company will return and report on the matter, as required, according to the applicable law. (1) The Phoenix Consumer Credit is in the process of obtaining an expanded license for the provision of credit according to The Control of Financial Services (Regulated Financial Services) Law, 5776 � 2016.

Attached hereto is a report on	Entering into a Memorandum of Understanding to Establish an Alliance for the Provision of Consumer Credit with Isracard Ltd. and/or Isracard Mimun Ltd. - Immediate Report

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	Reference to parallel Hebrew report:	2023-01-000874
	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 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