The Phoenix Holdings Ltd.

Legal Proceedings Report • Mar 21, 2022

Re: An approval of a motion to certify a claim as a class action against The Phoenix & Provident Fund Ltd.On March 18, 2022, a decision was rendered by the Central District Court, approving the motion to certify a claim as a class action ("The Approval Decision"), which was filed against The Phoenix Pension & Provident Fund Ltd., a subsidiary of the Company ("The Phoenix Pension & Provident") as well as against four management companies of additional pension funds (collectively with The Phoenix Pension & Provident: "The Defendants"), claiming the use of bad faith of the right, under the pension fund�s rules and regulations, to increase management fees paid by pensioners from the accumulated balance, to the maximum allowable management fees, starting from the date of their retirement (See details in the Immediate Report dated 23 July 2014 (Reference No. 2014-01-120201) and in Note 7A(5) to the Company's financial statements as of September 30, 2021, which were published on November 30, 2021 (Reference No. 2021-01-173703)).As part of the Approval Decision, it was determined that the class in whose name the class action will be conducted is, anyone who is a member of a comprehensive new pension fund belonging to one of the Defendants, and is entitled to an old-age pension and/or will be entitled to receive an old-age pension in the future, and that the questions under discussion are whether the Defendants should have informed the comprehensive new pension fund members in advance of the rate of management fees to be charged from them during the pension period, and if so - what is the damage caused as a result of them not being notified.The Phoenix Pension & Provident Fund is studying the Approval Decision and is considering its further steps.In the Company's assessment, the Approval Decision is not expected to have a material effect on the Company or on the Phoenix Pension & Provident Fund. false

������ ������ ��"�	1 818
THE PHOENIX HOLDINGS LTD
Corporation no: 520017450	10820
- - -

	Israel Securities Authority			Tel Aviv Stock Exchange		�150 ( Public )		Reported via MAGNA:	21/03/2022
	www.isa.gov.il			www.tase.co.il				Reference:	2022-01-032455	Time of broadcast: 22:09 22:09

---

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:   _________   _________   _________

_________

Attached hereto is a report on

Re: An approval of a motion to certify a claim as a class action against The Phoenix & Provident Fund Ltd. On March 18, 2022, a decision was rendered by the Central District Court, approving the motion to certify a claim as a class action ("The Approval Decision"), which was filed against The Phoenix Pension & Provident Fund Ltd., a subsidiary of the Company ("The Phoenix Pension & Provident") as well as against four management companies of additional pension funds (collectively with The Phoenix Pension & Provident: "The Defendants"), claiming the use of bad faith of the right, under the pension fund�s rules and regulations, to increase management fees paid by pensioners from the accumulated balance, to the maximum allowable management fees, starting from the date of their retirement (See details in the Immediate Report dated 23 July 2014 (Reference No. 2014-01-120201) and in Note 7A(5) to the Company's financial statements as of September 30, 2021, which were published on November 30, 2021 (Reference No. 2021-01-173703)). As part of the Approval Decision, it was determined that the class in whose name the class action will be conducted is, anyone who is a member of a comprehensive new pension fund belonging to one of the Defendants, and is entitled to an old-age pension and/or will be entitled to receive an old-age pension in the future, and that the questions under discussion are whether the Defendants should have informed the comprehensive new pension fund members in advance of the rate of management fees to be charged from them during the pension period, and if so - what is the damage caused as a result of them not being notified. The Phoenix Pension & Provident Fund is studying the Approval Decision and is considering its further steps. In the Company's assessment, the Approval Decision is not expected to have a material effect on the Company or on the Phoenix Pension & Provident Fund.

_________

	Reference to parallel Hebrew report:	2022-01-031636
	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 20 March 2022 is the binding report.
References of previous documents relating to this matter(the reference does not constitute incorporation by reference):
- - -
Stock Exchange/Market: ������	Date of revision of form structure: 22/02/2022
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