The Phoenix Holdings Ltd.

Legal Proceedings Report • Aug 18, 2021

On August 15, 2021, the Regional Labor Court issued a decision approving a motion to certify a class action ("The Approval Decision"), which was filed against The Phoenix Pension and Provident Ltd. (which was merged into The Phoenix Excellence Pension and Provident Fund Ltd., which is a subsidiary of the Company; hereinafter "The Phoenix Pension"), arguing that The Phoenix Pension refrained from paying, either entirety or in part, partial benefit payments to anyone receiving an incomplete disability pension (release from benefit payments) and that it refrained from informing its policy holders of the payments it had executed, insofar as it had executed, (See the detailed Immediate Report of May 14th, 2018 (Reference No. 2018-01-048028) and Note 7A(29) to the Company's financial statements as of March 31st, 2021, which were published on May 27th, 2021 (Reference No. 2021-01-031600)). As part of the Approval Decision, causes of action were certified with regard to non-execution of release from benefit payments, regarding members who received a partial disability pension between May 1, 2012 and May 1, 2019, and a relief was granted, according to which, one must act in accordance with the provisions of the articles of association and transfer to the accumulated balance of the members who received a partial disability pension, as aforesaid, A current monthly benefit payments, by value date of the original eligibility date, plus the yield borne by the fund as of that date. In addition, it was also ruled that beyond that, no separate monetary damage has been proven and there is no room for a ruling on monetary compensation. Therefore, according to The Phoenix Pension assessment, the Approval Decision and its implementation do not affect the financial results of The Phoenix Pension.The Phoenix Pension is studying the Approval Decision and considering its future steps. 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:	18/08/2021
	www.isa.gov.il			www.tase.co.il				Reference:	2021-01-067168	Time of broadcast: 15:04 15:04

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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 16 of August 2021.

Attached hereto is a report on

On August 15, 2021, the Regional Labor Court issued a decision approving a motion to certify a class action ("The Approval Decision"), which was filed against The Phoenix Pension and Provident Ltd. (which was merged into The Phoenix Excellence Pension and Provident Fund Ltd., which is a subsidiary of the Company; hereinafter "The Phoenix Pension"), arguing that The Phoenix Pension refrained from paying, either entirety or in part, partial benefit payments to anyone receiving an incomplete disability pension (release from benefit payments) and that it refrained from informing its policy holders of the payments it had executed, insofar as it had executed, (See the detailed Immediate Report of May 14th, 2018 (Reference No. 2018-01-048028) and Note 7A(29) to the Company's financial statements as of March 31st, 2021, which were published on May 27th, 2021 (Reference No. 2021-01-031600)). As part of the Approval Decision, causes of action were certified with regard to non-execution of release from benefit payments, regarding members who received a partial disability pension between May 1, 2012 and May 1, 2019, and a relief was granted, according to which, one must act in accordance with the provisions of the articles of association and transfer to the accumulated balance of the members who received a partial disability pension, as aforesaid, A current monthly benefit payments, by value date of the original eligibility date, plus the yield borne by the fund as of that date. In addition, it was also ruled that beyond that, no separate monetary damage has been proven and there is no room for a ruling on monetary compensation. Therefore, according to The Phoenix Pension assessment, the Approval Decision and its implementation do not affect the financial results of The Phoenix Pension. The Phoenix Pension is studying the Approval Decision and considering its future steps.

translation168_isa.pdf

	Reference to parallel Hebrew report:	2021-01-065785
	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