PHOENIX FINANCIAL LTD

Registration Number: 520017450

To: Israel Securities Authority To: Tel Aviv Stock Exchange Ltd. Form Number: T076 (Public) Sent via MAGNA: 02/09/2025 Israel Securities Authority Website: www.isa.gov.il Tel Aviv Stock Exchange Website: www.tase.co.il Reference: 2025-01-066418

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 changes in holdings of securities of the reporting corporation only. For reporting changes 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. Holder Details

Schwartz Eli
Name in English: Schwartz Eli
Type of ID: Identity Card Number
ID Number: 032315517
Type of Holder: Senior officer who is not a CEO or director and is not an interested party by virtue of holdings
The hedge fund has the right to appoint a director or representative to the company's board: _________
Is the holder a representative for reporting purposes for several shareholders holding together with him securities of the corporation: No
Name of controlling shareholder in the interested party: -
ID 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 Options
Nature of change: Decrease, in convertible securities due to their conversion to shares or redemption
Is this a change in a single transaction or multiple transactions (cumulative change): Single transaction
Date of change: 02/09/2025
Transaction price: 3,517 agorot
Are these dormant shares or convertible securities to dormant shares: No
Previous balance (number of securities): 73,104
Previous holding percentage of same type: 2.29%
Change in number of securities: -14,447
Current balance (number of securities): 58,657
Current holding percentage of same type: 2.66%
Holding percentage after change: In capital: 0%, In voting rights: 0%
Explanation: The holding percentage after the change does not refer to convertible securities.
Holding percentage after full dilution: In capital: 0.03%, In voting rights: 0.03%
Note number: 1

2. Neeman Menachem

Name in English: Neeman Menachem
Type of ID: Identity Card Number
ID Number: 028017523
Type of Holder: Senior officer who is not a CEO or director and is not an interested party by virtue of holdings
The hedge fund has the right to appoint a director or representative to the company's board: _________
Is the holder a representative for reporting purposes for several shareholders holding together with him securities of the corporation: No
Name of controlling shareholder in the interested party: -
ID 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 Options
Nature of change: Decrease, in convertible securities due to their conversion to shares or redemption
Is this a change in a single transaction or multiple transactions (cumulative change): Single transaction
Date of change: 02/09/2025
Transaction price: 3,517 agorot
Are these dormant shares or convertible securities to dormant shares: No
Previous balance (number of securities): 73,135
Previous holding percentage of same type: 2.29%
Change in number of securities: -14,447
Current balance (number of securities): 58,688
Current holding percentage of same type: 2.66%
Holding percentage after change: In capital: 0%, In voting rights: 0%
Explanation: The holding percentage after the change does not refer to convertible securities.
Holding percentage after full dilution: In capital: 0.02%, In voting rights: 0.02%
Note number: 2

3. Alexander David

Name in English: Alexander David
Type of ID: Identity Card Number
ID Number: 014690952
Type of Holder: Senior officer who is not a CEO or director and is not an interested party by virtue of holdings
The hedge fund has the right to appoint a director or representative to the company's board: _________
Is the holder a representative for reporting purposes for several shareholders holding together with him securities of the corporation: No
Name of controlling shareholder in the interested party: --
ID 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 Options
Nature of change: Decrease, in convertible securities due to their conversion to shares or redemption
Is this a change in a single transaction or multiple transactions (cumulative change): Single transaction
Date of change: 02/09/2025
Transaction price: 3,517 agorot
Are these dormant shares or convertible securities to dormant shares: No
Previous balance (number of securities): 60,193
Previous holding percentage of same type: 1.89%
Change in number of securities: -7,992
Current balance (number of securities): 52,201
Current holding percentage of same type: 2.37%
Holding percentage after change: In capital: 0%, In voting rights: 0%
Explanation: The holding percentage after the change does not refer to convertible securities.
Holding percentage after full dilution: In capital: 0.02%, In voting rights: 0.02%
Note number: 3

4. Michal Leshem

Name in English: Michal Leshem
Type of ID: Identity Card Number
ID Number: 027862721
Type of Holder: Senior officer who is not a CEO or director and is not an interested party by virtue of holdings
The hedge fund has the right to appoint a director or representative to the company's board: _________
Is the holder a representative for reporting purposes for several shareholders holding together with him securities of the corporation: No
Name of controlling shareholder in the interested party: -
ID 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 Options
Nature of change: Decrease, in convertible securities due to their conversion to shares or redemption
Is this a change in a single transaction or multiple transactions (cumulative change): Single transaction
Date of change: 02/09/2025
Transaction price: 3,517 agorot
Are these dormant shares or convertible securities to dormant shares: No
Previous balance (number of securities): 96,622
Previous holding percentage of same type: 3.03%
Change in number of securities: -21,786
Current balance (number of securities): 74,836
Current holding percentage of same type: 3.03%
Holding percentage after change: In capital: 0%, In voting rights: 0%
Explanation: The holding percentage after the change does not refer to convertible securities.
Holding percentage after full dilution: In capital: 0.02%, In voting rights: 0.02%
Note number: 4

5. Natanel Amit

Name in English: Natanel Amit
Type of ID: Identity Card Number
ID Number: 028722213
Type of Holder: Senior officer who is not a CEO or director and is not an interested party by virtue of holdings
The hedge fund has the right to appoint a director or representative to the company's board: _________
Is the holder a representative for reporting purposes for several shareholders holding together with him securities of the corporation: No
Name of controlling shareholder in the interested party: -
ID 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 Options
Nature of change: Decrease, in convertible securities due to their conversion to shares or redemption
Is this a change in a single transaction or multiple transactions (cumulative change): Single transaction
Date of change: 02/09/2025
Transaction price: 3,517 agorot
Are these dormant shares or convertible securities to dormant shares: No
Previous balance (number of securities): 74,649
Previous holding percentage of same type: 2.34%
Change in number of securities: -17,429
Current balance (number of securities): 57,220
Current holding percentage of same type: 2.34%
Holding percentage after change: In capital: 0%, In voting rights: 0%
Explanation: The holding percentage after the change does not refer to convertible securities.
Holding percentage after full dilution: In capital: 0.02%, In voting rights: 0.02%
Note number: 5

6. Schreiber Haggai

Name in English: Schreiber Haggai
Type of ID: Identity Card Number
ID Number: 037626546
Type of Holder: Senior officer who is not a CEO or director and is not an interested party by virtue of holdings
The hedge fund has the right to appoint a director or representative to the company's board: _________
Is the holder a representative for reporting purposes for several shareholders holding together with him securities of the corporation: No
Name of controlling shareholder in the interested party: -
ID 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 Options
Nature of change: Decrease, in convertible securities due to their conversion to shares or redemption
Is this a change in a single transaction or multiple transactions (cumulative change): Single transaction
Date of change: 02/09/2025
Transaction price: 3,517 agorot
Are these dormant shares or convertible securities to dormant shares: No
Previous balance (number of securities): 37,275
Previous holding percentage of same type: 1.17%
Change in number of securities: -14,216
Current balance (number of securities): 23,059
Current holding percentage of same type: 1.05%
Holding percentage after change: In capital: 0%, In voting rights: 0%
Explanation: The holding percentage after the change does not refer to convertible securities.
Holding percentage after full dilution: In capital: 0.02%, In voting rights: 0.02%
Note number: 6

7. Eli Schwartz

Name in English: Eli Schwartz
Type of ID: Identity Card Number
ID Number: 032315517
Type of Holder: Senior officer who is not a CEO or director and is not an interested party by virtue of holdings
The hedge fund has the right to appoint a director or representative to the company's board: _________
Is the holder a representative for reporting purposes for several shareholders holding together with him securities of the corporation: No
Name of controlling shareholder in the interested party: -
ID 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
Is this a change in a single transaction or multiple transactions (cumulative change): Single transaction
Date of change: 02/09/2025
Transaction price: 3,517 agorot
Are these dormant shares or convertible securities to dormant shares: No
Previous balance (number of securities): 22,925
Previous holding percentage of same type: 0.01%
Change in number of securities: +3,152
Current balance (number of securities): 26,077
Current holding percentage of same type: 0.01%
Holding percentage after change: In capital: 0.01%, In voting rights: 0.01%
Explanation: The holding percentage after the change does not refer to convertible securities.
Holding percentage after full dilution: In capital: 0.03%, In voting rights: 0.03%
Note number: 8

8. Menachem Neeman

Name in English: Menachem Neeman
Type of ID: Identity Card Number
ID Number: 028017523
Type of Holder: Senior officer who is not a CEO or director and is not an interested party by virtue of holdings
The hedge fund has the right to appoint a director or representative to the company's board: _________
Is the holder a representative for reporting purposes for several shareholders holding together with him securities of the corporation: No
Name of controlling shareholder in the interested party: -
ID 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
Is this a change in a single transaction or multiple transactions (cumulative change): Single transaction
Date of change: 02/09/2025
Transaction price: 3,517 agorot
Are these dormant shares or convertible securities to dormant shares: No
Previous balance (number of securities): 0
Previous holding percentage of same type: 0%
Change in number of securities: +3,152
Current balance (number of securities): 3,152
Current holding percentage of same type: 0%
Holding percentage after change: In capital: 0%, In voting rights: 0%
Explanation: The holding percentage after the change does not refer to convertible securities.
Holding percentage after full dilution: In capital: 0.02%, In voting rights: 0.02%
Note number: 9

9. Alexander David

Name in English: Alexander David
Type of ID: Identity Card Number
ID Number: 014690952
Type of Holder: Senior officer who is not a CEO or director and is not an interested party by virtue of holdings
The hedge fund has the right to appoint a director or representative to the company's board: _________
Is the holder a representative for reporting purposes for several shareholders holding together with him securities of the corporation: No
Name of controlling shareholder in the interested party: -
ID 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
Is this a change in a single transaction or multiple transactions (cumulative change): Single transaction
Date of change: 02/09/2025
Transaction price: 3,517 agorot
Are these dormant shares or convertible securities to dormant shares: No
Previous balance (number of securities): 26,650
Previous holding percentage of same type: 0.01%
Change in number of securities: +1,744
Current balance (number of securities): 28,394
Current holding percentage of same type: 0.01%
Holding percentage after change: In capital: 0.01%, In voting rights: 0.01%
Explanation: The holding percentage after the change does not refer to convertible securities.
Holding percentage after full dilution: In capital: 0.03%, In voting rights: 0.03%
Note number: 10

10. Leshem Michal

Name in English: Leshem Michal
Type of ID: Identity Card Number
ID Number: 027862721
Type of Holder: Senior officer who is not a CEO or director and is not an interested party by virtue of holdings
The hedge fund has the right to appoint a director or representative to the company's board: _________
Is the holder a representative for reporting purposes for several shareholders holding together with him securities of the corporation: No
Name of controlling shareholder in the interested party: -
ID 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
Is this a change in a single transaction or multiple transactions (cumulative change): Single transaction
Date of change: 02/09/2025
Transaction price: 3,517 agorot
Are these dormant shares or convertible securities to dormant shares: No
Previous balance (number of securities): 0
Previous holding percentage of same type: 0%
Change in number of securities: +4,754
Current balance (number of securities): 4,754
Current holding percentage of same type: 0%
Holding percentage after change: In capital: 0%, In voting rights: 0%
Explanation: The holding percentage after the change does not refer to convertible securities.
Holding percentage after full dilution: In capital: 0.02%, In voting rights: 0.02%
Note number: 11

11. Natanel Amit

Name in English: Natanel Amit
Type of ID: Identity Card Number
ID Number: 028722213
Type of Holder: Senior officer who is not a CEO or director and is not an interested party by virtue of holdings
The hedge fund has the right to appoint a director or representative to the company's board: _________
Is the holder a representative for reporting purposes for several shareholders holding together with him securities of the corporation: No
Name of controlling shareholder in the interested party: -
ID 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
Is this a change in a single transaction or multiple transactions (cumulative change): Single transaction
Date of change: 02/09/2025
Transaction price: 3,517 agorot
Are these dormant shares or convertible securities to dormant shares: No
Previous balance (number of securities): 0
Previous holding percentage of same type: 0%
Change in number of securities: +3,803
Current balance (number of securities): 3,803
Current holding percentage of same type: 0%
Holding percentage after change: In capital: 0%, In voting rights: 0%
Explanation: The holding percentage after the change does not refer to convertible securities.
Holding percentage after full dilution: In capital: 0.02%, In voting rights: 0.02%
Note number: 12

12. Schreiber Haggai

Name in English: Schreiber Haggai
Type of ID: Identity Card Number
ID Number: 037626546
Type of Holder: Senior officer who is not a CEO or director and is not an interested party by virtue of holdings
The hedge fund has the right to appoint a director or representative to the company's board: _________
Is the holder a representative for reporting purposes for several shareholders holding together with him securities of the corporation: No
Name of controlling shareholder in the interested party: -
ID 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
Is this a change in a single transaction or multiple transactions (cumulative change): Single transaction
Date of change: 02/09/2025
Transaction price: 3,517 agorot
Are these dormant shares or convertible securities to dormant shares: No
Previous balance (number of securities): 0
Previous holding percentage of same type: 0%
Change in number of securities: +3,102
Current balance (number of securities): 3,102
Current holding percentage of same type: 0%
Holding percentage after change: In capital: 0%, In voting rights: 0%
Explanation: The holding percentage after the change does not refer to convertible securities.
Holding percentage after full dilution: In capital: 0.02%, In voting rights: 0.02%
Note number: 13

13. Orly Pascal

Name in English: Orly Pascal
Type of ID: Identity Card Number
ID Number: 025001116
Type of Holder: Senior officer who is not a CEO or director and is not an interested party by virtue of holdings
The hedge fund has the right to appoint a director or representative to the company's board: _________
Is the holder a representative for reporting purposes for several shareholders holding together with him securities of the corporation: No
Name of controlling shareholder in the interested party: -
ID 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 Options
Nature of change: Decrease, in convertible securities due to their conversion to shares or redemption
Is this a change in a single transaction or multiple transactions (cumulative change): Single transaction
Date of change: 02/09/2025
Transaction price: 3,517 agorot
Are these dormant shares or convertible securities to dormant shares: No
Previous balance (number of securities): 144,264
Previous holding percentage of same type: 4.53%
Change in number of securities: -36,765
Current balance (number of securities): 107,499
Current holding percentage of same type: 4.88%
Holding percentage after change: In capital: 0%, In voting rights: 0%
Explanation: The holding percentage after the change does not refer to convertible securities.
Holding percentage after full dilution: In capital: 0.03%, In voting rights: 0.03%
Note number: 13

14. Orly Pascal

Name in English: Orly Pascal
Type of ID: Identity Card Number
ID Number: 025001116
Type of Holder: Senior officer who is not a CEO or director and is not an interested party by virtue of holdings
The hedge fund has the right to appoint a director or representative to the company's board: _________
Is the holder a representative for reporting purposes for several shareholders holding together with him securities of the corporation: No
Name of controlling shareholder in the interested party: -
ID 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
Is this a change in a single transaction or multiple transactions (cumulative change): Single transaction
Date of change: 02/09/2025
Transaction price: 3,517 agorot
Are these dormant shares or convertible securities to dormant shares: No
Previous balance (number of securities): 0
Previous holding percentage of same type: 0%
Change in number of securities: +8,022
Current balance (number of securities): 8,022
Current holding percentage of same type: 0%
Holding percentage after change: In capital: 0%, In voting rights: 0%
Explanation: The holding percentage after the change does not refer to convertible securities.
Holding percentage after full dilution: In capital: 0.03%, In voting rights: 0.03%
Note number: 14

15. Ben Simon Eyal

Name in English: Ben Simon Eyal
Type of ID: Identity Card Number
ID Number: 025173782
Type of Holder: Director/CEO
The hedge fund has the right to appoint a director or representative to the company's board: _________
Is the holder a representative for reporting purposes for several shareholders holding together with him securities of the corporation: No
Name of controlling shareholder in the interested party: -
ID 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 Options
Nature of change: Decrease, in convertible securities due to their conversion to shares or redemption
Is this a change in a single transaction or multiple transactions (cumulative change): Single transaction
Date of change: 02/09/2025
Transaction price: 3,517 agorot
Are these dormant shares or convertible securities to dormant shares: No
Previous balance (number of securities): 77,915
Previous holding percentage of same type: 2.46%
Change in number of securities: -19,063
Current balance (number of securities): 58,852
Current holding percentage of same type: 2.7%
Holding percentage after change: In capital: 0%, In voting rights: 0%
Explanation: The holding percentage after the change does not refer to convertible securities.
Holding percentage after full dilution: In capital: 0.04%, In voting rights: 0.04%
Note number: 15

16. Ben Simon Eyal

Name in English: Ben Simon Eyal
Type of ID: Identity Card Number
ID Number: 025173782
Type of Holder: Director/CEO
The hedge fund has the right to appoint a director or representative to the company's board: _________
Is the holder a representative for reporting purposes for several shareholders holding together with him securities of the corporation: No
Name of controlling shareholder in the interested party: -
ID 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
Is this a change in a single transaction or multiple transactions (cumulative change): Single transaction
Date of change: 02/09/2025
Transaction price: 3,517 agorot
Are these dormant shares or convertible securities to dormant shares: No
Previous balance (number of securities): 58,998
Previous holding percentage of same type: 0.02%
Change in number of securities: +4,159
Current balance (number of securities): 63,157
Current holding percentage of same type: 0.02%
Holding percentage after change: In capital: 0.02%, In voting rights: 0.02%
Explanation: The holding percentage after the change does not refer to convertible securities.
Holding percentage after full dilution: In capital: 0.04%, In voting rights: 0.04%
Note number: 16

Note: If an increase due to a forced purchase of loaned securities or a decrease due to a 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.

Notes Table

No.	Note
1	Mr. Eli Schwartz serves as Deputy CEO and CFO 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 capital gains track, in accordance with section 2.7.3.3 of clarified the 2023 Outline. It is further that the sale of the shares subject to the benefit exercise will be made close to the exercise date in order to from the benefit relevant tax under the capital gains track of the Income Tax Ordinance.
2	Mr. Menachem Neeman serves as Deputy CEO and Legal Counsel 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 clarified section 2.7.3 of the 2023 Outline. It is that the forced exercise is carried out after the minimum holding period in trust according to the capital gains track, clarified in accordance 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 benefit benefit date in order to from the relevant tax under the capital gains track of the Income Tax Ordinance.
3	Mr. David Alexander serves as Deputy CEO and Business Development Manager 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 clarified price set in section 2.7.3 of the 2023 Outline. It is that the forced exercise is carried out after the minimum holding period in trust according to the capital gains track, 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 benefit benefit the exercise date in order to from the relevant tax under the capital gains track of the Income Tax Ordinance.
4	Ms. Michal Leshem serves as Deputy CEO and Internal Auditor 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 clarified section 2.7.3 of the 2023 Outline. It is that the forced exercise is carried out after the minimum holding period in trust according to the capital gains track, clarified in accordance 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 benefit benefit date in order to from the relevant tax under the capital gains track of the Income Tax Ordinance.

No.	Note
5	Mr. Natanel Amit serves as the company's Risk Manager. 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 2023 clarified Outline. It is that the forced exercise is carried out after the minimum holding period in trust according to the capital gains track, in accordance with clarified section 2.7.3.3 of the 2023 Outline. It is further that the sale of the shares benefit subject to the exercise will be made close to the exercise date in order to benefit from the relevant tax under the capital gains track of the Income Tax Ordinance.
6	Officer Mr. Haggai Schreiber serves as Deputy CEO and Chief Investment 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 clarified price set in section 2.7.3 of the 2023 Outline. It is that the forced exercise is carried out after the minimum holding period in trust according to the capital gains track, 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 benefit benefit the exercise date in order to from the relevant tax under the capital gains track of the Income Tax Ordinance.
7	See Note 1
8	See Note 2
9	See Note 3
10	See Note 4
11	See Note 5
12	See Note 6
13	Ms. Orly Pascal serves as Deputy CEO and Human Resources Manager 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 clarified price set in section 2.7.3 of the 2023 Outline. It is that the forced exercise is carried out after the minimum holding period in trust according to the capital gains track, 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 benefit benefit the exercise date in order to from the relevant tax under the capital gains track of the Income Tax Ordinance.
14	See Note 13

No.	Note
15	Mr. Eyal Ben Simon serves as 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 outline for the officers issuance of options to employees and in the company and its subsidiaries published on June 28, 2023 (Reference: 2023-01-060307) and its amendment clarified dated July 26, 2023 (Reference: 2023-01-070531) ("2023 Outline"). It is that the forced exercise is carried out after the minimum holding period in trust according to the capital gains track, in accordance with section 2.7.3.3 of the 2023 clarified Outline. It is further that the sale of the shares subject to the exercise will benefit benefit be made close to the exercise date in order to from the relevant tax under the capital gains track of the Income Tax Ordinance.
16	See Note 15

1. Was the entire consideration paid at the time of the change: Yes
1. If not all the consideration was paid at the time of the change, please specify the date of completion of the payment: _________
1. If the change is by signing a loan agreement, please specify details regarding the termination of 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: 02/09/2025 at 10:15
1. Details of the actions that caused the change: _________

Authorized signatories for the corporation:

No.	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.

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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 capital gains track, 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 under the capital gains track of 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

Short name: PHOENIX FINANCIAL LTD

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

Email: [email protected]

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

Electronic reporter name: Sirkis Elad Position: Company Secretary Employer company name: PHOENIX INSURANCE LTD.

Address: 53 Derech Hashalom, Givatayim, 5345433 Phone: 074-7315656 Fax: 03-7238855 Email: [email protected]

Form structure update date: 04/02/2025

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The Phoenix Holdings Ltd.

6983_rns_2025-09-02_564a521f-831a-44aa-b914-c66043936358.pdf