The Phoenix Holdings Ltd.

Capital/Financing Update • Aug 4, 2021

Subject: The Commissioner has approved the recognition of Series 12 Deferred Liabilities Deeds (RT1) to be Issued by The Phoenix Capital Raising (2009) Ltd. as a Tier 1 Capital Instrument to be held by The Phoenix Insurance Company Ltd.Following the Company's Immediate reports from 27.5.2021, 27.7.2021 & 2.8.2021 (Reference No. 2021-01-031384, 2021-01-058330 & 2021-01-060658, respectively), in relation with the issuance of Series 12 Deferred Liabilities Deeds (RT1) in the total amount of up to NIS 1.5 billion (including the deferred liabilities deeds that will be issued to the Company as specified in the trust deed) by The Phoenix Capital Raising (2009) Ltd. (a second-tier subsidiary of the Company), the Company is hereby honored to announce that on the 3 August 2021, the approval of the Commissioner of the Capital Market, Insurance and Savings Authority in the Ministry of Finance, for the recognition of Series 12 Deferred Liabilities Deeds to be issued, insofar that they are issued, as a Tier 1 capital instrument to be held by The Phoenix Insurance Company Ltd., was received. 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:	04/08/2021
	www.isa.gov.il			www.tase.co.il				Reference:	2021-01-061675	Time of broadcast: 20:52 20:52

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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:   _________   _________   _________

The original Hebrew report was published on the 3 of August 2021.

Attached hereto is a report on

Subject: The Commissioner has approved the recognition of Series 12 Deferred Liabilities Deeds (RT1) to be Issued by The Phoenix Capital Raising (2009) Ltd. as a Tier 1 Capital Instrument to be held by The Phoenix Insurance Company Ltd. Following the Company's Immediate reports from 27.5.2021, 27.7.2021 & 2.8.2021 (Reference No. 2021-01-031384, 2021-01-058330 & 2021-01-060658, respectively), in relation with the issuance of Series 12 Deferred Liabilities Deeds (RT1) in the total amount of up to NIS 1.5 billion (including the deferred liabilities deeds that will be issued to the Company as specified in the trust deed) by The Phoenix Capital Raising (2009) Ltd. (a second-tier subsidiary of the Company), the Company is hereby honored to announce that on the 3 August 2021, the approval of the Commissioner of the Capital Market, Insurance and Savings Authority in the Ministry of Finance, for the recognition of Series 12 Deferred Liabilities Deeds to be issued, insofar that they are issued, as a Tier 1 capital instrument to be held by The Phoenix Insurance Company Ltd., was received.

Approval_isa.pdf

	Reference to parallel Hebrew report:	2021-01-061159
	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: 15/06/2021
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