The Phoenix Holdings Ltd.

Legal Proceedings Report • Dec 30, 2021

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

29.12.2021

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

Notice is hereby given that a Claim, has been filed in the Tel - Aviv District Court against the Company's subsidiary, The Phoenix Insurance Company Ltd., (hereinafter: "The Phoenix Insurance"), along with a motion to certify the Claim as a class action, (hereinafter collectively: the "Claim").

The matter of the Claim, according to the plaintiff, is that in claims for property damage to motor vehicles (of the insured or of a third party), The Phoneix Insurance has prima facie made an unlawful reduction in the insurance compensation, owing to a failure to repair the motor vehicles or owing to the fact that the parts which were damaged were not transferred to the Company.

The plaintiff did not assess the total amount of damage he alleges was caused to the members of the group, but he has noted that in his assessment it involves millions of New Shekels, and even more.

The plaintiff noted that there are three pending motions to certify claims as class actions in which similar matters are being discussed against other insurance companies, where one of these is against The Phoenix Insurance (see immediate report dated 18th January 2018, Reference Number 2018-01-006126)

At this stage, Phoenix Insurance is studying the details of the Claim, and therefore the chances of its approval as a class action cannot be assessed, and if it is approved, the chances of its success cannot be assessed.

Respectfully,

The Phoenix Holdings Ltd.

c/o Attorney Meni Neeman, Chief Legal Counsel and Secretary of the Company