The Phoenix Holdings Ltd.

Capital/Financing Update • May 4, 2022

Re: Expansion of bond (series K) - The Phoenix Capital Raising (2009) Ltd. second-tier subsidiary of the Company - Institutional Stage results The Company is hereby announcing that on May 3, 2022, The Phoenix Capital Raising (2009) Ltd. (hereinafter: "The Phoenix Capital Raising"), a second-tier subsidiary of the Company, published an immediate report regarding tender results for classified investors which was held on May 2, 2022, for an early commitment to purchase bonds as part of series expansion.Below are the results of the tender for classified investors:Biddings were submitted for the purchase of NIS 536,841 thousand nominal value bonds, of these, The Phoenix Capital Raising has received early commitments from classified investors (as detailed in the shelf offering report, insofar it will be published by The Phoenix Capital Raising), for the purchase of NIS 293,361 thousand nominal value bonds, at a unit price of NIS 928, which will constitute the minimum price per unit in the tender for the public (insofar as it is carried out).It is emphasized that the debt's raising, its scope, structure, and timing is uncertain and is subject to the receipt of all permits and approvals required by law, including the approval of the TASE Ltd. to publish a shelf offering report and to register for trading the bonds and approvals required by The Phoenix Capital Raising's organs.It is hereby clarified that the above does not constitute a commitment on the part of The Phoenix Capital Raising to carry out an issue of the aforesaid bonds, nor does it constitute an offering to the public or an offer to purchase The Phoenix Capital Raising's securities. 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:	04/05/2022
	www.isa.gov.il			www.tase.co.il				Reference:	2022-01-054586	Time of broadcast: 01:20 01:20

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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: Expansion of bond (series K) - The Phoenix Capital Raising (2009) Ltd. second-tier subsidiary of the Company - Institutional Stage results The Company is hereby announcing that on May 3, 2022, The Phoenix Capital Raising (2009) Ltd. (hereinafter: "The Phoenix Capital Raising"), a second-tier subsidiary of the Company, published an immediate report regarding tender results for classified investors which was held on May 2, 2022, for an early commitment to purchase bonds as part of series expansion. Below are the results of the tender for classified investors: Biddings were submitted for the purchase of NIS 536,841 thousand nominal value bonds, of these, The Phoenix Capital Raising has received early commitments from classified investors (as detailed in the shelf offering report, insofar it will be published by The Phoenix Capital Raising), for the purchase of NIS 293,361 thousand nominal value bonds, at a unit price of NIS 928, which will constitute the minimum price per unit in the tender for the public (insofar as it is carried out). It is emphasized that the debt's raising, its scope, structure, and timing is uncertain and is subject to the receipt of all permits and approvals required by law, including the approval of the TASE Ltd. to publish a shelf offering report and to register for trading the bonds and approvals required by The Phoenix Capital Raising's organs. It is hereby clarified that the above does not constitute a commitment on the part of The Phoenix Capital Raising to carry out an issue of the aforesaid bonds, nor does it constitute an offering to the public or an offer to purchase The Phoenix Capital Raising's securities.

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	Reference to parallel Hebrew report:	2022-01-044334
	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 on the 3 of May 2022 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