The Phoenix Holdings Ltd.

Capital/Financing Update • Aug 9, 2021

Subject: Results of Issuance of Series 12 Deferred Liabilities Deeds (RT1) in Private Issuance to Classified Investors - The Phoenix Capital Raising (2009) Ltd.The Company is hereby honored to announce the results of the issuance of Series 12 Deferred Liabilities Deeds (RT1), which were issued as part of a private issuance under a trust deed issued by The Phoenix Capital Raising (2009) Ltd., a second-tier subsidiary of the Company (hereinafter "The Phoenix Capital Raising") on August 2nd, 2021 (as well as the amendment to the trust deed published on August 3rd, 2021) (hereinafter "Deferred Liability Deeds" and "Trust Deed", respectively). The Deferred Liability Deeds were recognized by the Commissioner of the Capital Market, Insurance and Savings Authority as an additional Tier 1 capital instrument by The Phoenix Insurance Company Ltd.In accordance with the results of the tender, The Phoenix Capital Raising will issue units of Deferred Liability Deeds to classified investors with a total nominal value of NIS 200 million and with an annual interest rate of 2.29%. The total gross consideration that The Phoenix Capital Raising will receive in respect of the issued Deferred Liability Deeds as part of the private issuance, amounts to approximately NIS 200 million nominal value.As specified in section 3.4.2 of the Trust Deed, The Phoenix Capital Raising will issue Deferred Liability Deeds to the Company, instead of Additional Tier 1 capital instruments that The Phoenix Insurance Company Ltd. has previously issued to the Company. In light of the annual interest rate set in the tender and in accordance with the exchange methodology document attached to the Trust Deed, The Phoenix Capital Raising will issue units of Deferred Liability Deeds to the Company at a nominal value of approximately NIS 1,025.9 million.The Phoenix Capital Raising addressed the TASE in order to register the Deferred Liability Deeds for trading in the TASE institutional list (the "TACT"). false

������ ������ ��"�	1 818
THE PHOENIX HOLDINGS LTD
Corporation no: 520017450	10820
- - -

	Israel Securities Authority			Tel Aviv Stock Exchange		�150 ( Public )		Reported via MAGNA:	09/08/2021
	www.isa.gov.il			www.tase.co.il				Reference:	2021-01-063067	Time of broadcast: 13:58 13:58

---

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 8 of August 2021.

Attached hereto is a report on

Subject: Results of Issuance of Series 12 Deferred Liabilities Deeds (RT1) in Private Issuance to Classified Investors - The Phoenix Capital Raising (2009) Ltd. The Company is hereby honored to announce the results of the issuance of Series 12 Deferred Liabilities Deeds (RT1), which were issued as part of a private issuance under a trust deed issued by The Phoenix Capital Raising (2009) Ltd., a second-tier subsidiary of the Company (hereinafter "The Phoenix Capital Raising") on August 2nd, 2021 (as well as the amendment to the trust deed published on August 3rd, 2021) (hereinafter "Deferred Liability Deeds" and "Trust Deed", respectively). The Deferred Liability Deeds were recognized by the Commissioner of the Capital Market, Insurance and Savings Authority as an additional Tier 1 capital instrument by The Phoenix Insurance Company Ltd. In accordance with the results of the tender, The Phoenix Capital Raising will issue units of Deferred Liability Deeds to classified investors with a total nominal value of NIS 200 million and with an annual interest rate of 2.29%. The total gross consideration that The Phoenix Capital Raising will receive in respect of the issued Deferred Liability Deeds as part of the private issuance, amounts to approximately NIS 200 million nominal value. As specified in section 3.4.2 of the Trust Deed, The Phoenix Capital Raising will issue Deferred Liability Deeds to the Company, instead of Additional Tier 1 capital instruments that The Phoenix Insurance Company Ltd. has previously issued to the Company. In light of the annual interest rate set in the tender and in accordance with the exchange methodology document attached to the Trust Deed, The Phoenix Capital Raising will issue units of Deferred Liability Deeds to the Company at a nominal value of approximately NIS 1,025.9 million. The Phoenix Capital Raising addressed the TASE in order to register the Deferred Liability Deeds for trading in the TASE institutional list (the "TACT").

TRANS_isa.pdf

	Reference to parallel Hebrew report:	2021-01-062515
	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):
- - -
Stock Exchange/Market: ������	Date of revision of form structure: 15/06/2021
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