The Phoenix Holdings Ltd.

Legal Proceedings Report • Nov 15, 2022

On February 28, 2021, the District Court rendered a Partial Judgment (hereinafter: "Partial Judgment") in relation to the claim which was partially approved as a class action and which was filed against a subsidiary of the Company, The Phoenix Insurance Company Ltd. (hereinafter: "The Phoenix Insurance") as well as against four additional insurance companies (hereinafter, collectively: "The Defendants"), claiming that the Defendants do not pay interest for the insurance benefits from the date of filing the claim to the date of actual payment (See Immediate Report from February 28, 2021 (Reference No. 2021-01-024172)).The Phoenix Insurance filed a motion to appeal to the Supreme Court against the Partial Judgment and a motion to stay the enforcement of the Partial Judgment (See Immediate Report from May 19, 2021 (Reference No. 2021-01-086676)).The Company is hereby announcing that on November 9, 2022, the Supreme Court rendered its decision (hereinafter: "The Decision"), according to which the motion to appeal the Partial Judgment was rejected, inter alia, due to the lack of grounds for judicial intervention at this stage before a final decision in the proceedings in the District Court, and that the proper jurisdiction to clarify The Phoenix Insurance's claims is by appealing the final judgment, insofar as an appeal is filed. Accordingly, the partially approved class action will continue to be conducted in the District Court.This Decision has no effect on the financial statements of the Company and/or The Phoenix Insurance. false

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THE PHOENIX HOLDINGS LTD
Corporation no: 520017450	10820
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	Israel Securities Authority			Tel Aviv Stock Exchange		�150 ( Public )		Reported via MAGNA:	15/11/2022
	www.isa.gov.il			www.tase.co.il				Reference:	2022-01-109959	Time of broadcast: 14:44 14:44

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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:   _________   _________   _________

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Attached hereto is a report on

On February 28, 2021, the District Court rendered a Partial Judgment (hereinafter: "Partial Judgment") in relation to the claim which was partially approved as a class action and which was filed against a subsidiary of the Company, The Phoenix Insurance Company Ltd. (hereinafter: "The Phoenix Insurance") as well as against four additional insurance companies (hereinafter, collectively: "The Defendants"), claiming that the Defendants do not pay interest for the insurance benefits from the date of filing the claim to the date of actual payment (See Immediate Report from February 28, 2021 (Reference No. 2021-01-024172)). The Phoenix Insurance filed a motion to appeal to the Supreme Court against the Partial Judgment and a motion to stay the enforcement of the Partial Judgment (See Immediate Report from May 19, 2021 (Reference No. 2021-01-086676)). The Company is hereby announcing that on November 9, 2022, the Supreme Court rendered its decision (hereinafter: "The Decision"), according to which the motion to appeal the Partial Judgment was rejected, inter alia, due to the lack of grounds for judicial intervention at this stage before a final decision in the proceedings in the District Court, and that the proper jurisdiction to clarify The Phoenix Insurance's claims is by appealing the final judgment, insofar as an appeal is filed. Accordingly, the partially approved class action will continue to be conducted in the District Court. This Decision has no effect on the financial statements of the Company and/or The Phoenix Insurance.

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	Reference to parallel Hebrew report:	2022-01-108981
	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	Meni Neeman	Other Chief Legal Officer & Company 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 on 13 November 2022 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: 02/11/2022
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 , ������� 53454 Telephone: 03-7332997 Facsimile: 03-7238831 E-mail: menin@fnx.co.il 1