The Phoenix Holdings Ltd.

Legal Proceedings Report • May 23, 2022

Re: A Claim accompanied by a motion to certify the Claim as a class action against The Phoenix Pension and Provident Fund Ltd. - Immediate ReportNotice is hereby given that a Claim has been filed in the Central District Court accompanied by a motion to certify the Claim as a class action (hereinafter, collectively: "the Claim"), against The Phoenix Pension and Provident Fund Ltd. (and in its former name The Phoenix Excellence Pension & Provident Fund Ltd.), which is a subsidiary of the Company (hereinafter: "The Phoenix Pension and Provident Fund") as well as against another management company (hereinafter, collectively: "the Defendants").The matter of the Claim, according to the Plaintiffs, is that in CPI-linked loans, although not mentioned in the provisions of the agreement, the Defendants adopted a practice of one-way linkage mechanism, according to which, when the CPI rises compared to the base index, the customer's monthly bill is increased accordingly and when the CPI goes down, the monthly charge remains as it is.The Plaintiffs claim that it is difficult to assess the extent of the damage to the class members, however, they estimate that it exceeds NIS 3 million.The Plaintiffs noted that there are three pending motions for approval of class action lawsuits which, so they claim, raise common questions against three other companies, among them is The Phoenix Insurance Company Ltd. (See details in the Immediate Report dated June 25, 2020 (Reference No. 2020-1-066678) and in Note 43A1 (43) to the Company's financial statements as of December 31, 2021, which were published on March 29, 2022 (Reference No. 2022-01-036997)).At this stage, The Phoenix Pension and Provident Fund is studying the details of the Claim, and therefore the chances of its approval as a class action cannot be assessed, and if it is approved, the chances of its success cannot be assessed. false

������ ������ ��"�	1 818
THE PHOENIX HOLDINGS LTD
Corporation no: 520017450	10820
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	Israel Securities Authority			Tel Aviv Stock Exchange		�150 ( Public )		Reported via MAGNA:	22/05/2022
	www.isa.gov.il			www.tase.co.il				Reference:	2022-01-062155	Time of broadcast: 21:58 21:58

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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 Claim accompanied by a motion to certify the Claim as a class action against The Phoenix Pension and Provident Fund Ltd. - Immediate Report Notice is hereby given that a Claim has been filed in the Central District Court accompanied by a motion to certify the Claim as a class action (hereinafter, collectively: "the Claim"), against The Phoenix Pension and Provident Fund Ltd. (and in its former name The Phoenix Excellence Pension & Provident Fund Ltd.), which is a subsidiary of the Company (hereinafter: "The Phoenix Pension and Provident Fund") as well as against another management company (hereinafter, collectively: "the Defendants"). The matter of the Claim, according to the Plaintiffs, is that in CPI-linked loans, although not mentioned in the provisions of the agreement, the Defendants adopted a practice of one-way linkage mechanism, according to which, when the CPI rises compared to the base index, the customer's monthly bill is increased accordingly and when the CPI goes down, the monthly charge remains as it is. The Plaintiffs claim that it is difficult to assess the extent of the damage to the class members, however, they estimate that it exceeds NIS 3 million. The Plaintiffs noted that there are three pending motions for approval of class action lawsuits which, so they claim, raise common questions against three other companies, among them is The Phoenix Insurance Company Ltd. (See details in the Immediate Report dated June 25, 2020 (Reference No. 2020-1-066678) and in Note 43A1 (43) to the Company's financial statements as of December 31, 2021, which were published on March 29, 2022 (Reference No. 2022-01-036997)). At this stage, The Phoenix Pension and Provident Fund is studying the details of the Claim, and therefore the chances of its approval as a class action cannot be assessed, and if it is approved, the chances of its success cannot be assessed.

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	Reference to parallel Hebrew report:	2022-01-061459
	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 above 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: 27/04/2022
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