The Phoenix Holdings Ltd.

Legal Proceedings Report • May 6, 2024

Re: The Attorney General to the government position regarding a settlement agreement submitted for approval by the district court in a class action proceeding against The Phoenix Insurance Company Ltd. (Subsidiary) false

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THE PHOENIX HOLDINGS LTD
Corporation no: 520017450	14969
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	Israel Securities Authority			Tel Aviv Stock Exchange		�150 ( Public )		Reported via MAGNA:	06/05/2024
	www.isa.gov.il			www.tase.co.il				Reference:	2024-01-047646	Time of broadcast: 16:54 16:54

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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:   _________   _________   _________

Re: The Attorney General to the government position regarding a settlement agreement submitted for approval by the district court in a class action proceeding against The Phoenix Insurance Company Ltd. (Subsidiary) The Company announces that on May 5, 2024, the Attorney General to the government submitted its position regarding the settlement agreement that was submitted for approval by the district court on June 20, 2023 in a class action proceeding against a subsidiary of the Company, The Phoenix Insurance Company Ltd. ("Phoenix Insurance") and against six additional insurance companies, and which concerns the allegation of unlawful collection of a payment called a "policy factor in a manner that reduced the saving amount accrued in favor of the policyholder in life insurance policies (see detailed in the immediate report of June 21, 2023 (reference number 2023-01-057877) and in note 43A1 (2) To the company's financial statements for December 31, 2023, which were published on March 27, 2024 (reference number 2024-01-026677). According to the position, the Attorney General to the government is not opposed to the group members refund of the rate of 42% in respect of the past for the �policy factor� and leaves it to the court's discretion, subject to the fact that the reciprocal sums will do in a way of adding actual returns from 2013 and later; and she does not oppose the reduction of the future collection of the "policy factor" and also leaves it to court's discretion. In addition, the Attorney General to the government position includes objections and comments to other sections of the settlement agreement, among them, the fees for the representative plaintiff's attorney, the method of restitution to the group members and the method of reducing the "policy factor". The Phoenix Insurance is studying the position of the Attorney General to the government and its reasoning. It should be noted that in any case the settlement agreement is subject to the approval of the court. As detailed in the immediate report dated June 21, 2023 (mentioned above), Phoenix Insurance has an appropriate provision in its financial statements for the proposed settlement arrangement.

Attached hereto is a report on	Re: The Attorney General to the government position regarding a settlement agreement submitted for approval by the district court in a class action proceeding against The Phoenix Insurance Company Ltd. (Subsidiary)

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	Reference to parallel Hebrew report:	2024-01-047391
	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	Elad Sirkis	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 which was published is the binding report.
References of previous documents relating to this matter(the reference does not constitute incorporation by reference):
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Stock Exchange/Market: ������	Date of revision of form structure: 20/02/2024
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 , ������� 5345433 Telephone: 074-7315656 Facsimile: 03-7238855 E-mail: Elads1@fnx.co.il 1