The Phoenix Holdings Ltd.

Legal Proceedings Report • Oct 2, 2022

Re: A Claim accompanied by a motion to certify the Claim as a class action against Excellence Investment Management & Securities Ltd.Notice is hereby given that a Claim has been filed in the Tel Aviv District Court against a company wholly owned by the Company (in chain holding), Excellence Investment Management and Securities Ltd. (hereinafter: "Excellence" and under its former name "Excellence Nessuah Stock Exchange Services Ltd.) accompanied by a motion to certify the Claim as a class action (hereinafter collectively: "The Claim").The matter of the Claim is in the argument of overpayment amounting to 2 agorot (cents) above the conversion rate for the performance of conversion operations of NIS to foreign currency, without this being stipulated in an agreement between the parties.In the plaintiff's assessment, the cumulative damage to the members of the alleged group stands at a total of NIS 26.5 million.At this stage, Excellence 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. 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:	02/10/2022
	www.isa.gov.il			www.tase.co.il				Reference:	2022-01-099999	Time of broadcast: 14:57 14:57

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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

Re: A Claim accompanied by a motion to certify the Claim as a class action against Excellence Investment Management & Securities Ltd. Notice is hereby given that a Claim has been filed in the Tel Aviv District Court against a company wholly owned by the Company (in chain holding), Excellence Investment Management and Securities Ltd. (hereinafter: "Excellence" and under its former name "Excellence Nessuah Stock Exchange Services Ltd.) accompanied by a motion to certify the Claim as a class action (hereinafter collectively: "The Claim"). The matter of the Claim is in the argument of overpayment amounting to 2 agorot (cents) above the conversion rate for the performance of conversion operations of NIS to foreign currency, without this being stipulated in an agreement between the parties. In the plaintiff's assessment, the cumulative damage to the members of the alleged group stands at a total of NIS 26.5 million. At this stage, Excellence 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.

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	Reference to parallel Hebrew report:	2022-01-099615
	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 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: 13/09/2022
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