The Phoenix Holdings Ltd.

Legal Proceedings Report • Oct 28, 2021

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

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: Immediate Report

On October 26th, 2021, a judgment was rendered by the Tel Aviv-Yafo District Court, which rejects a motion to certify a class action lawsuit filed against a subsidiary of the Company, The Phoenix Insurance Company Ltd. (Hereinafter: "The Phoenix Insurance"), and which is concerned with the claim that The Phoenix Insurance misleads policyholders when it sells them an insurance product that can hardly be used, in view of the prohibition that applies to soldiers in military service to receive medical service from civilian sources, except for certain exceptions (See details in the Immediate Report dated February 7th, 2018 (Reference No. 2018-01-011061) and in Note 7A(24) to the Company's financial statements as of June 30th, 2021, which were published on August 25th, 2021 (Reference No. 2021-01-070180)).

This brings the proceedings to an end, subject to the Plaintiffs' right to appeal.

Respectfully,

The Phoenix Holdings Ltd.

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