The Phoenix Holdings Ltd.

Legal Proceedings Report • Aug 4, 2021

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

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: The Phoenix Insurance Company Ltd. - Immediate Report

The Company is hereby honored to announce that the District Court rendered today a Judgment dismissing the request for approval of a class action lawsuit which was filed against a subsidiary of the Company, The Phoenix Insurance Company Ltd. (hereinafter "The Phoenix Insurance") and against 6 additional insurance companies (hereinafter collectively "The Defendants"), claiming to allegedly collect excess insurance premiums in employers' liability insurance and third-party insurance (as part of business insurance policies), despite the reduction in the extent of the arrival of employees and third parties to businesses due to the Covid-19 and the restrictions imposed thereunder, which constitutes, allegedly, a substantial reduction in the level of risk to which the Defendants are exposed (see the Immediate Report dated April 26th, 2020 (Reference No. 2020-01-041790) and note 7(a)(47) to the Company's financial statements as of March 31st, 2021, which were published on May 27th, 2021 (Reference No. 2021-01-031600)).

Thus, the proceeding came to an end, subject to the Plaintiffs' right to appeal.

It shall be noted that requests for approval of similar class actions lawsuits are pending against The Phoenix Insurance (and against other insurance companies) (See details in Note 7(a)(45) and 7(a)(46) to the Company's financial statements as of March 31st, 2021, which were published on May 27th, 2021 (Reference No. 2021-01- 031600)).

The date on which the Judgment was received by The Phoenix Insurance is today at 11:30 a.m.

Respectfully,

The Phoenix Holdings Ltd. c/o Attorney Meni Neeman, Chief Legal Counsel and Secretary of the Company