The Phoenix Holdings Ltd.

Legal Proceedings Report • Aug 25, 2021

On August 18th, 2021, Central District Court issued a decision approving a motion to certify a class action ("The Approval Decision"), which was filed against a subsidiary of the Company, The Phoenix Insurance Company Ltd. ("Phoenix Insurance"), and which is arguing that the marketing and sale of service contracts , either directly or through agents on behalf of Phoenix Insurance, in violation of the provisions of the law with respect to the marketing and sale procedure of these aforementioned service contracts (See the detailed Immediate Report dated June 18th, 2017 (Note 7A(19) to the Company's financial statements as of March 31st, 2021, which were published on May 27th, 2021 (Reference No. 2021-01-031600)).The group, on whose behalf the class action will be conducted, is anyone who purchased, either directly or through its agents, from Phoenix Insurance, service contracts under the comprehensive car insurance policy, while Phoenix Insurance violated the provisions of the law with respect to the marketing and sale procedure of the service contracts, in the period from June 30th, 2016, until the Approval Decision.The remedies sought are compensation and/or restitution in the amount overpaid to Phoenix Insurance, in respect of the purchase of service contracts which were sold under the insurance plan; Monetary relief for non-pecuniary damage; An order directing Phoenix Insurance, as part of the marketing procedure of the car insurance plans, to present the price of the service contracts separately from the price of the insurance policy; An order directing Phoenix Insurance not to condition the purchase of an insurance plan on the purchase of service contracts; An order directing Phoenix Insurance to allow its policy holders not to purchase the service contracts and/or part of them under the insurance plan, while reducing their cost from the cost of the insurance plan, in a way that will reduce the cost of the insurance plan accordingly. 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:	24/08/2021
	www.isa.gov.il			www.tase.co.il				Reference:	2021-01-070102	Time of broadcast: 23:24 23:24

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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 the 23 of August 2021.

Attached hereto is a report on

On August 18th, 2021, Central District Court issued a decision approving a motion to certify a class action ("The Approval Decision"), which was filed against a subsidiary of the Company, The Phoenix Insurance Company Ltd. ("Phoenix Insurance"), and which is arguing that the marketing and sale of service contracts , either directly or through agents on behalf of Phoenix Insurance, in violation of the provisions of the law with respect to the marketing and sale procedure of these aforementioned service contracts (See the detailed Immediate Report dated June 18th, 2017 (Note 7A(19) to the Company's financial statements as of March 31st, 2021, which were published on May 27th, 2021 (Reference No. 2021-01-031600)). The group, on whose behalf the class action will be conducted, is anyone who purchased, either directly or through its agents, from Phoenix Insurance, service contracts under the comprehensive car insurance policy, while Phoenix Insurance violated the provisions of the law with respect to the marketing and sale procedure of the service contracts, in the period from June 30th, 2016, until the Approval Decision. The remedies sought are compensation and/or restitution in the amount overpaid to Phoenix Insurance, in respect of the purchase of service contracts which were sold under the insurance plan; Monetary relief for non-pecuniary damage; An order directing Phoenix Insurance, as part of the marketing procedure of the car insurance plans, to present the price of the service contracts separately from the price of the insurance policy; An order directing Phoenix Insurance not to condition the purchase of an insurance plan on the purchase of service contracts; An order directing Phoenix Insurance to allow its policy holders not to purchase the service contracts and/or part of them under the insurance plan, while reducing their cost from the cost of the insurance plan, in a way that will reduce the cost of the insurance plan accordingly.

translation228_isa.pdf

	Reference to parallel Hebrew report:	2021-01-068905
	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

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 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: 10/08/2021
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