The Phoenix Holdings Ltd.

Legal Proceedings Report • Nov 23, 2022

Re: A judgment rendered by the Tel Aviv District Court rejecting a motion for approval of a claim as a class action against The Phoenix Pension and Provident Ltd. - Immediate ReportThe Company is hereby announcing that a judgment was rendered by the Tel Aviv District Court on November 22, 2022, rejecting the motion for approval of a claim as a class action, which was filed against a subsidiary of the Company, The Phoenix Pension and Provident 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 September 17, 2015 (Reference No. 2015-01-121302) and in Note 7a(7) to the Company's financial statements as of June 30, 2022, which were published on August 25, 2022 (Reference No. 2022-01-087321)).This brings the proceeding to an end, subject to the right of appeal of the plaintiffs. 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:	23/11/2022
	www.isa.gov.il			www.tase.co.il				Reference:	2022-01-112551	Time of broadcast: 16:16 16:16

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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 judgment rendered by the Tel Aviv District Court rejecting a motion for approval of a claim as a class action against The Phoenix Pension and Provident Ltd. - Immediate Report The Company is hereby announcing that a judgment was rendered by the Tel Aviv District Court on November 22, 2022, rejecting the motion for approval of a claim as a class action, which was filed against a subsidiary of the Company, The Phoenix Pension and Provident 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 September 17, 2015 (Reference No. 2015-01-121302) and in Note 7a(7) to the Company's financial statements as of June 30, 2022, which were published on August 25, 2022 (Reference No. 2022-01-087321)). This brings the proceeding to an end, subject to the right of appeal of the plaintiffs.

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	Reference to parallel Hebrew report:	2022-01-112368
	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 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: 02/11/2022
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