The Phoenix Holdings Ltd.

Legal Proceedings Report • May 12, 2021

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

12.5.2021

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

Notice is hereby given that a claim has been filed against a subsidiary of the Company, The Phoenix Insurance Company Ltd. (hereinafter: "The Phoenix Insurance"), accompanied by a request for approval as a class action, in the Central District Court (hereinafter collectively: "the Claim").

The matter of the Claim, according to the Plaintiff, is that The Phoenix Insurance illegally rejects, allegedly, claims of its policy holders in "personal accident" policies for compensation for days of hospitalization at a "non-general hospital" medical center, arguing that a "hospital", according to the policys` definition is a medical institution whose entire definitions are aimed at the fact that it is a "general hospital only".

The total damage alleged to all members of the group was not estimated by the Plaintiff, though he noted that it is over NIS 2.5 million.

The Plaintiff noted that there is an identical proceeding against another insurance company in which a request for approval of a class action was approved.

At this stage, The Phoenix Insurance 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 submitted to The Phoenix Insurance is on May 11, 2021 at 15:40 p.m.

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