The Phoenix Holdings Ltd.

Legal Proceedings Report • Jan 28, 2022

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

27.1.2022

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 Pension & Provident Ltd. - Immediate Report

On January 26, 2022, a judgment was rendered by The Tel Aviv-Yafo District Court, ordering the deletion of a motion to certify a claim as a class action, which was filed against a subsidiary of the Company, The Phoenix Pension & Provident Ltd. (and in its name at the time of filing the claim - The Phoenix Excellence Pension & Provident Ltd.; Hereinafter: "The Phoenix Pension & Provident"), and which is concerned with allegations of incorrect reporting and/or calculations of the linkage differences credited to OPMs' accounts; Incorrect calculation and presentation of real profits; Incorrect registration of deposits which causes the profits for them to be taxed illegally; Causing monetary damage to OPMs as a result of failure to track deficiencies in employers' deposits and recording deposit dates different from those actually made (See details in the Immediate Report dated September 8, 2020 ((Reference No. 2020-01-099036) as well as in Note 7A(49) 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