The Phoenix Holdings Ltd.

Legal Proceedings Report • May 20, 2021

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

19.5.2021

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: The Phoenix Insurance Company Ltd. - Immediate Report

Following the immediate reports from August 31, 2015 (Reference No. 2015-01- 109164) and from February 28, 2021 (Reference No. 2021-01-024172) and following the aforesaid in Note 42(a)(1)(4) to the Company's financial statements as of December 31, 2020, which were published on March 25, 2021 (Reference No. 2021- 01-044709), regarding to the partial judgment which was given on February 28, 2021 by the District Court, according to which the class action which was partially approved as a class action in August 2015 is accepted, against a subsidiary of the Company, The Phoenix Insurance Company Ltd. (hereinafter: "The Phoenix Insurance"), and against four other insurance companies (hereinafter collectively: "the Defendants"), arguing that the Defendants do not pay interest on insurance benefits from the date of filing the claim until the actual date of payment, the Company hereby announces that on May 18, 2021, The Phoenix Insurance filed an appeal to the Supreme Court against the partial judgment and a motion to stay the enforcement of the partial judgment.

The date on which the Company became aware of the event is on May 18, 2021 at 17:15 p.m.

Respectfully,

The Phoenix Holdings Ltd.

c/o Attorney Meni Neeman, Legal Counsel and Secretary of the Company