The Phoenix Holdings Ltd.

Legal Proceedings Report • Sep 9, 2022

Re: A decision by the District Court in Tel Aviv-Yafo partially approving a motion to certify the claim as class action against The Phoenix Insurance Company Ltd. 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:	09/09/2022
	www.isa.gov.il			www.tase.co.il				Reference:	2022-01-115531	Time of broadcast: 15:35 15:35

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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:   _________   _________   _________

On September 6, 2022, a decision was rendered by the District Court in Tel Aviv-Yafo which partially approves the motion to certify the claim as class action ("The Approval Decision") which was filed against a subsidiary of the Company, The Phoenix Insurance Company Ltd. ("The Phoenix Insurance"), and which concerns with the claim that The Phoenix Insurance does not pay policyholders insured under a long-term care ("LTC") policy the full amount due to them according to the policy they own by offsetting amounts against proceeds received from the National Insurance Institute; it is also claimed that The Phoenix Insurance does not indemnify policyholders for certain medical treatments (See detailed in the Immediate Report dated September 17, 2020 (Reference No. 2020-01-102312) and in Note 7a(41) to the Company's financial statements as of June 30, 2022, which were published on August 25, 2022 (Reference No. 2022-01-087321)). As part of the Approval Decision, the court rejected the motion to certify the claim as a class action, as far as the claim regarding non-indemnification of policyholders in a LTC policy for certain medical treatments is concerned and approved the motion to certify the claim as a class action, as far as the claim regarding offset of funds received by the policyholders from National Insurance is concerned. It was determined in the Approval Decision that the group on whose behalf the class action will be conducted is all of The Phoenix Insurance's LTC policyholders (or their successors, for that matter) who did not receive the compensation they were entitled to, due to offsetting of social security receipts they received due to their LTC condition; that the limitation period is 7 years; and that the common question for the members of the claimed group is, whether according to the terms of the policy, funds received by the policyholder from National Insurance can be taken into account and be deducted from the receipts that The Phoenix Insurance transfers to the policyholder. The Phoenix Insurance is studying the Approval Decision and considering its further steps.

Attached hereto is a report on	Re: A decision by the District Court in Tel Aviv-Yafo partially approving a motion to certify the claim as class action against The Phoenix Insurance Company Ltd.

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	Reference to parallel Hebrew report:	2022-01-092856
	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 that was published on 6 September 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: 02/08/2022
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