The Phoenix Holdings Ltd.

Legal Proceedings Report • Jun 30, 2021

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

30.6.2021

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

Notice is hereby given that a Claim has been filed against the Company, its subsidiary, The Phoenix Insurance Company Ltd. (hereinafter: "The Phoenix Insurance"), The Chairperson of the Board of Directors of the Company and of The Phoenix Insurance, the current members of the Board of Directors of the Company and of The Phoenix Insurance, as well as against a senior manager at The Phoenix Insurance (All the defendants collectively will be hereinafter referred to as "the Defendants"), a Claim and a request for approval as a class action, in the Tel - Aviv District Court (hereinafter collectively: "the Claim").

The Claim is based on a series of arguments, which arose as part of a request for approval of a derivative claim filed against the Defendants, and which deals with events that occurred in the early 1990s (See Immediate Reports of June 17th, 2021, Reference Number 2021-01-040690 and June 22nd, 2021, Reference Number 2021-01-042076).

The matter of the Claim, according to the Plaintiffs, is allegedly in misleading reporting and non-disclosure by the Company of material facts which caused damage to the share's buyers.

According to the Plaintiffs, the Company operated in the early 1990s through and with the involvement of its executives, in order to recruit and assist its customers to enjoy yieldguaranteed policies, allegedly in contrary to directives.

The Group that the Plaintiffs seek to represent, is anyone who holds the share on Sunday, June 20th, 2021, before the start of trading (hereinafter: "the Group").

The total damage alleged to all members of the Group was estimated by the Plaintiffs in the amount of NIS 137 million.

At this stage, the Company is studying the details of the Claim, and therefore the chances of its approval as a class action cannot be assessed, and if it is approved, the chances of its success cannot be assessed.

The date on which the Claim was received by The Phoenix Insurance is yesterday at 15:00 p.m.

Respectfully,

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