The Phoenix Holdings Ltd.

Legal Proceedings Report • Feb 2, 2022

-Convenience Translation Only The Hebrew immediate report is the binding report-

1.2.2022

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 honored to announce, that on January 31, 2022 a judgment was rendered by the Tel Aviv-Yaffo District Court, approving an agreed motion for the plaintiffs' withdrawal from a motion to certify a claim as a class action, which was filed against a subsidiary of the Company, The Phoenix Insurance Company Ltd. (hereinafter: "The Phoenix Insurance"), which concerns with the claims that The Phoenix Insurance does not link the liability limitation amounts in its health insurance policies and that it deprives the policyholders of insurance coverage, while claiming to be a cosmetic surgery, contrary to the provisions of the insurance contract and without making proper disclosure as to the exception of cosmetic surgery and its definition (See details in the Immediate Report dated 21 February 2021 (Reference No. 2021-01-020992) and in Note 7A(52) 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 Adv. Meni Neeman, Chief Legal Counsel

and Secretary of the Company