The Phoenix Holdings Ltd.

Legal Proceedings Report • Mar 7, 2022

-Convenience Translation Only The Hebrew immediate which was published on the 6 March 2022 is the binding report-

7.3.2022

The Phoenix Holdings Ltd.

("the Company")

To To www.isa.gov.il www.tase.co.il

The Securities Authority The Tel Aviv Stock Exchange Ltd.

Re: The Phoenix Insurance Company Ltd. - Immediate Report

The Company is hereby announce that on 2 March 2022, a judgment was rendered by the Central District Court approving an agreed motion for the plaintiff's withdrawal from the motion to approve a claim as a class action, which was filed against a subsidiary of the Company, The Phoenix Insurance Company Ltd. (hereinafter: "The Phoenix Insurance"), and which is concerned with the claim of non-reduction of management fees in respect of a savings policy, contrary to the agreement between the policyholders and The Phoenix Insurance (See details in the Immediate Report dated 21 April 2021 (Reference No. 2021-01-067527) and in Note 7A(57) to the Company's financial statements as of September 30, 2021, which were published on November 30, 2021 (Reference No. 2021-01-173703)).

This brings the proceeding to an end.

Respectfully,

The Phoenix Holdings Ltd. c/o Attorney Meni Neeman, Legal Counsel and Secretary of the Company