The Phoenix Holdings Ltd.

Legal Proceedings Report • Apr 21, 2021

Convenience Translation Only The Hebrew immediate report is the binding report-

21.4.2021

The Phoenix Holdings Ltd. ("the Company")

To To

The Securities Authority The Tel Aviv Stock Exchange Ltd.

www.isa.gov.il www.tase.co.il

Re: The Phoenix Insurance Company Ltd. - Immediate Report

Notice is hereby given that a claim has been filed against a subsidiary of the Company, The Phoenix Insurance Company Ltd. (hereinafter: "The Phoenix Insurance") and against 2 additional insurance companies (hereinafter together: "the Defendants") accompanied by a request for approval as a class action, in the Tel - Aviv District Court (hereinafter collectively: "the Claim").

The matter of the Claim, according to the plaintiffs, is that the Defendants refuse to finance the expenses of the policy holders for the purchase of medical cannabis, contrary to the provisions of the insurance contract between the parties regarding the insurance to cover drugs that are not included in the health service basket, and the fact that medical cannabis is recognized for use in medical indication in western countries.

The plaintiffs estimate the total alleged damage in relation to all members of the group whom they seek to represent against all the Defendants, in the amount of approximately NIS 79 million.

At this stage, The Phoenix Insurance 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.

The date on which the Company was informed that the claim was received by The Phoenix Insurance is 20 April 2021 at 12:00.

Respectfully,

The Phoenix Holdings Ltd.

c/o Attorney Meni Neeman, Legal Counsel and Secretary of the Company