The Phoenix Holdings Ltd.

Major Shareholding Notification • Aug 25, 2025

PHOENIX FINANCIAL LTD

PHOENIX FINANCIAL LTD

Registration Number: 520017450

To: Israel Securities Authority To: Tel Aviv Stock Exchange Ltd. Form Number: T076 (Public) Transmitted via MAGNA: 25/08/2025 Israel Securities Authority Website: www.isa.gov.il Tel Aviv Stock Exchange Website: www.tase.co.il Reference: 2025-01-063373

Immediate Report on Changes in Holdings of Interested Parties and Senior Officers

Regulation 33(b) of the Securities Regulations (Periodic and Immediate Reports), 1970

Note: This form is intended for reporting a change in holdings of securities of the reporting corporation only. To report a change in holdings of securities of a subsidiary of the reporting corporation, if its activity is material to the activity of the reporting corporation, use Form T121.

1

Name of corporation/Last name and first name of holder: BenSimonEyal

Name of corporation/Last name and first name of holder in English as registered with the Companies Registrar or in the passport:

Ben Simon Eyal

Type of identification number: Identity card number

Holder's identification number: 025173782

Type of holder: Director/CEO

Does the hedge fund have the right to appoint a director or representative to the company's board?

Is the holder acting as a representative for the purpose of reporting on behalf of several shareholders holding together securities of the corporation? No

Name of controlling shareholder in the interested party:

*-

_________

Identification number of controlling shareholder in the interested party: *-

Citizenship/Country of incorporation or registration:

Private individual with Israeli citizenship

Country of citizenship/incorporation or registration:

_________

Security number on the stock exchange:

7670235

_________

Name and type of security: PHOENIX FINANCIAL LTD Employee Warrants

Nature of change:

Decrease In convertible securities due to their conversion to shares or redemption

Note: Purchase or sale of shares on the stock exchange by way of a matched transaction, as defined in the third part of the stock exchange regulations, will be classified as an offexchange transaction, with disclosure in the free text field that the transaction was carried out in this way.

Is this a change in a single transaction or multiple transactions (cumulative change):

Single transaction

Date of change: 25/08/2025

Transaction rate:

3,574 Currency: Agorot

Are these dormant shares or convertible securities to dormant shares: No

Balance (in number of securities) in the last report:

96,978 Holding percentage of total securities of the same type in the last report: % 2.23

Change in number of securities:

19,063 *-

Current balance (in number of securities):

0

77,915 Current holding percentage of total securities of the same type: % 2.46

Holding percentage after the change: In capital: %

0 In voting rights: %

Explanation: The holding percentage after the change does not refer to convertible securities.

Holding percentage after the change on a fully diluted basis: In capital: %

0.04 In voting rights: % 0.04

Note number:

1

2

Name of corporation/Last name and first name of holder:

Ben Simon Eyal

Name of corporation/Last name and first name of holder in English as registered with the Companies Registrar or in the passport:

Ben Simon Eyal

Type of identification number:

Identity card number

Holder's identification number: 025173782

Type of holder: Director/CEO

_________

Does the hedge fund have the right to appoint a director or representative to the company's board?

Is the holder acting as a representative for the purpose of reporting on behalf of several shareholders holding together securities of the corporation? No

Name of controlling shareholder in the interested party: *-

Identification number of controlling shareholder in the interested party: *-

Citizenship/Country of incorporation or registration: Private individual with Israeli citizenship

Country of citizenship/incorporation or registration:

_________

_________

Security number on the stock exchange: 767012

Name and type of security: PHOENIX 1 Ordinary Share

Nature of change: Increase In shares due to conversion of securities

Note: Purchase or sale of shares on the stock exchange by way of a matched transaction, as defined in the third part of the stock exchange regulations, will be classified as an offexchange transaction, with disclosure in the free text field that the transaction was carried out in this way.

Is this a change in a single transaction or multiple transactions (cumulative change):

Single transaction

Date of change:

25/08/2025

Transaction rate:

3,574 Currency: Agorot

Are these dormant shares or convertible securities to dormant shares: No

Balance (in number of securities) in the last report:

55,771 Holding percentage of total securities of the same type in the last report: % 0.02

Change in number of securities:

3,227*+

Current balance (in number of securities):

58,998 Current holding percentage of total securities of the same type: % 0.02

Holding percentage after the change: In capital: %

0.2 In voting rights: % 0.02

Explanation: The holding percentage after the change does not refer to convertible securities.

Holding percentage after the change on a fully diluted basis: In capital: % 0.04

In voting rights: % 0.04

Note number:

2

_________

_________

Note: If the value 'increase due to forced purchase of loaned securities' or 'decrease due to forced sale of loaned securities' is selected, then loaned securities not returned to the lender, and thus the lending action became a forced purchase and the lending action a forced sale.

No.	Note
1	Mr. Eyal Ben Simon serves as the CEO of the company. The exercise of the options for the shares subject to the report was carried out according to the forced exercise mechanism upon reaching the limit price set in section 2.7.3 of the officers outline for the issuance of options to employees and in the company and its subsidiaries published on June 28, 2023 (Reference: 2023-01-060307) and its amendment dated July 26, 2023 (Reference: 2023-01-070531) ("2023 Outline"). It clarified is that the forced exercise is carried out after the minimum holding period in trust according to the provisions of the capital gains route and in accordance clarified with section 2.7.3.3 of the 2023 Outline. It is further that the sale of the shares subject to the exercise will be made close to the exercise date in order to benefit benefit from the relevant tax for the capital gains route under the Income Tax Ordinance.
2	See Note 1

1. Was the entire consideration paid at the time of the change? Yes

If not all the consideration was paid at the time of the change, please specify the date of completion of the payment:

2. If the change is by way of signing a loan agreement, please specify details regarding the manner of ending the loan:

Explanation: The holding percentages should be stated taking into account all securities held by the interested party.

1. The date and time the corporation first became aware of the event or matter: 25/08/2025

At: 08:15

_________

1. Details of the actions that caused the change:

Details of the authorized signatories on behalf of the corporation:

	Name of Signatory	Position
1	Adv. Elad Sirkis	Company Secretary

Explanation: According to Regulation 5 of the Periodic and Immediate Reports Regulations (1970), a report submitted under these regulations shall be signed by those authorized to sign on behalf of the corporation. The staff's position on the matter can be found on the Authority's website: Click here.

The exercise of the options for the shares subject to the report was carried out according to the forced exercise mechanism upon reaching the limit price set in section 2.7.3 of the outline for the issuance of options to employees and officers in the company and its subsidiaries published on June 28, 2023 (Reference: 2023-01- 060307) and its amendment dated July 26, 2023 (Reference: 2023-01-070531) ("2023 Outline"). It is clarified that the forced exercise is carried out after the minimum holding period in trust according to the provisions of the capital gains route and in accordance with section 2.7.3.3 of the 2023 Outline. It is further clarified that the sale of the shares subject to the exercise will be made close to the exercise date in order to benefit from the relevant tax benefit for the capital gains route under the Income Tax Ordinance.

Reference numbers of previous documents on the subject (the mention does not constitute inclusion by reference):

Securities of the corporation are listed for trading on the Tel Aviv Stock Exchange

Form structure update date: 04/02/2025

Short name: PHOENIX FINANCIAL LTD

Address: Derech Hashalom 53, Givatayim 53454 Phone: 03-7332997, 03-7338174 Fax: 03-7238855

Email: menin@fnx.co.il

Previous names of the reporting entity: PHOENIX HOLDINGS LTD, PHOENIX ISRAEL INSURANCE COMPANY LTD

Electronic reporter name: Menachem Ne'eman Position: Legal Advisor

Address: Derech Hashalom 53, Givatayim 53454 Phone: 03-7332997 Fax: 03-7238831 Email: menin@fnx.co.il