The Phoenix Holdings Ltd.

Legal Proceedings Report • Sep 29, 2021

29.9.2021

The Phoenix Holdings Ltd. ("the Company")

To To

The Securities Authority The Tel Aviv Stock Exchange Ltd.

www.isa.gov.il www.tase.co.il

Re: Immediate Report

On September 24th, 2021, the Regional Labor Court issued a judgment rejecting the motion to certify the claim as a class action, which was filed against The Phoenix Pension and Provident Ltd. (which was merged into The Phoenix Excellence Pension and Provident Ltd., which is a subsidiary of the Company; hereinafter: "The Phoenix Pension") and against five other companies, arguing to collect insurance premiums in respect of survivors' insurance (life insurance coverage) from policyholders who have no survivors (See details in the Immediate Report dated April 9th, 2018 (Reference No. 2018-01-029547) and in Note 7A(26) 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 proceeding 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