The Phoenix Holdings Ltd.

Regulatory Filings • Aug 27, 2025

Re: Midroog Ltd.- Rating Action Report for The Phoenix Insurance Company Ltd. (Subsidiary) | August 2025Midroog affirms Aaa.il rating for the financial strength of The Phoenix Insurance Company Ltd. (Subsidiary), maintains Aa2.il(hyb) rating with a stable outlook for subordinated notes (Tier 2), and assigns Aa3.il(hyb) rating with a stable outlook to subordinated notes (RT1). Attached to this Immediate Report is the translated Rating Report which was published by Midroog on August 24, 2025. false

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PHOENIX FINANCIAL LTD
Corporation no: 520017450	14969
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	Israel Securities Authority			Tel Aviv Stock Exchange		�150 ( Public )		Reported via MAGNA:	27/08/2025
	www.isa.gov.il			www.tase.co.il				Reference:	2025-01-064008	Time of broadcast: 00:53 00:53

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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:   _________   _________   _________

_________

Attached hereto is a report on

Re: Midroog Ltd.- Rating Action Report for The Phoenix Insurance Company Ltd. (Subsidiary) | August 2025 Midroog affirms Aaa.il rating for the financial strength of The Phoenix Insurance Company Ltd. (Subsidiary), maintains Aa2.il(hyb) rating with a stable outlook for subordinated notes (Tier 2), and assigns Aa3.il(hyb) rating with a stable outlook to subordinated notes (RT1). Attached to this Immediate Report is the translated Rating Report which was published by Midroog on August 24, 2025.

Midroog__Phoenix_Insurance_26825_isa.pdf

	Reference to parallel Hebrew report:	2025-01-062982
	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	Elad Sirkis	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 published on August 24, 2025 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: 06/08/2024
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 , ������� 5345433 Telephone: 074-7315656 Facsimile: 03-7238855 E-mail: Elads1@fnx.co.il 1