The Phoenix Holdings Ltd.

Capital/Financing Update • Jan 6, 2022

Re: Immediate Report on the results of the Tender for qualified investors - New bond Series (series 6) 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:	05/01/2022
	www.isa.gov.il			www.tase.co.il				Reference:	2022-01-003060	Time of broadcast: 23:42 23:42

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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:   _________   _________   _________

The original Hebrew report was published on January 4, 2022. Immediate Report on the results of the Tender for qualified investors Following the Company's Immediate Reports regarding examining the option of publishing a Shelf Offering Report, according to which a new series of bonds will be offered to the public in the book building method, following the updated draft of the indenture for bonds (as defined below) and following the reports of ratings that the Company received from S&P Global Ratings Maalot Ltd. and from Midroog Ltd. (Moody's), the Company is honored to announce the following: 1.On 4 January, 2022, a Tender was held for qualified investors to purchase a new series of the Company's bonds (Series 6), which are not convertible and will be listed for trading on the Tel Aviv Stock Exchange Ltd., by virtue of the Prospectus ("the Stock Exchange" and "the Bonds", respectively) that ended on the same day, in order to get prior commitments from qualified investors before issuing the Bonds in the Public Tender (if it will be held) ("the Tender"). 2.The Bonds were offered to the qualified investors by way of a Tender, with an annual interest rate that the Bonds would bear and with a maximum rate not exceeding 2.4%. 3.The Bonds are not linked to any linkage base. 4.As part of the Tender, requests were submitted for purchase of approximately NIS 947 million nominal value of the Bonds, out of which the Company has received prior commitments from qualified investors (as listed in the Shelf Offering Report, as will be published) for the purchase of NIS 300 million nominal value of the Bonds at an annual rate of 1.94%, which will constitute the maximum interest rate that the Bonds will bear in the Public Tender (if it will be held). 5.The final interest rate that the Bonds will bear will be determined in the Public Tender (if it will be held). 6.The public offering of the Bonds (if it will be held) will be done as part of a Shelf Offering Report. It is hereby clarified that as of the date of this Immediate Report, there is no certainty that the public offering of the Bond (including the amount raised, its structure, and its timing) will occur, and it is subject to obtaining the approvals and permits required by law, including the approval of the Stock Exchange for publication of the Shelf Offering Report and for listing the Bonds for trading, and the approvals required by the organizations of the Company. It is also hereby clarified that the statements in this Immediate Report do not constitute an obligation on the part of the Company to make an offering and/or issue the abovementioned Bonds, and that there is nothing in the contents of this Immediate Report that constitute an offering to the public or an invitation to purchase the Company's securities.

Attached hereto is a report on	Re: Immediate Report on the results of the Tender for qualified investors - New bond Series (series 6)

translation_5_1_isa.pdf

	Reference to parallel Hebrew report:	2022-01-002328
	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
2	Eli Schwartz	CFO _________

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 published on January 4, 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: 30/12/2021
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