The Phoenix Holdings Ltd.

Legal Proceedings Report • Dec 17, 2021

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

16.12.2021

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: ESOP Management & Trust Services Ltd. - Immediate Report

Notice is hereby given that a Claim has been filed in the Tel - Aviv District Court against ESOP Management & Trust Services Ltd., the Company's third-tier subsidiary (hereinafter: "ESOP"), 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 a tender offer made for company's shares, in which he was employed at and which he held by virtue of options granted to him, ESOP allegedly breached various liabilities as part of the operation of selling the shares in the aforesaid tender offer.

At this stage, ESOP 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.

The date on which the Company became aware of the event is December 15, 2021, at 19:45 p.m.

Respectfully,

The Phoenix Holdings Ltd.

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