The Phoenix Holdings Ltd.

Legal Proceedings Report • Jan 5, 2023

Re: A judgment rendered by the Central District Court approving a motion to certify a claim as a class action against The Phoenix Insurance Company Ltd. 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:	05/01/2023
	www.isa.gov.il			www.tase.co.il				Reference:	2023-01-003151	Time of broadcast: 16:08 16:08

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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: A judgment rendered by the Central District Court approving a motion to certify a claim as a class action against The Phoenix Insurance Company Ltd. On January 4, 2023, a decision was rendered by the Central District Court, which approves the motion to certify the claim as a class action (hereinafter: the "Approval Decision"), which was filed against a subsidiary of the Company, the Phoenix Insurance Company Ltd. (hereinafter: the "Phoenix Insurance"), and in which it was claimed that starting from a certain date at the beginning of 2016 or around that date, the Phoenix Insurance ceased to fulfill its commitment related to the health insurance policies which were marketed by it at the period prior to February 1 2016, in which it undertook to grant an insurance coverage, with no further premium, to any child to be born to the principal insured, starting from the fourth child, until he / she reaches his / her twenty first birthday (see details in the Immediate Report dated February 16 2020 (reference no. 2020-01-013747) and in Explanation 7a(27) to the financial reports of the Company dated September 30 2022, which were published on November 30 2022 (reference no. 2022-01-115344). As part of the Approval Decision, the court determined that the group in the name of which the class action would be handled, includes any insured of the Phoenix Insurance, who joined the health insurance program, in regard to which the Phoenix Insurance undertook upon itself that starting from the fourth child to be born to the insured, an insurance coverage, with no further premium, would be granted, and that the Phoenix Insurance did not grant them such coverage, or granted it for a payment. It was also determined that the question related to all group members is whether the Phoenix Insurance is obliged to further grant an insurance coverage to "the fourth child and on" of principal insured, without any further premium, also after January 31 2016, or whether the Phoenix Insurance was allowed to discontinue such free coverage option for children of principal insured, as it has indeed done, even though they have purchased their insurance policy with it prior to the date of cessation. It should be noted that the approval Decision is expected to have a negligible effect on the financial reports of Phoenix Insurance. Phoenix Insurance is learning the approval Decision and considering its next steps.

Attached hereto is a report on	Re: A judgment rendered by the Central District Court approving a motion to certify a claim as a class action against The Phoenix Insurance Company Ltd.

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	Reference to parallel Hebrew report:	2023-01-002859
	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