The Phoenix Holdings Ltd.

Legal Proceedings Report • Sep 29, 2025

Central District Court Decision Regarding Clarification Request in Class Action Settlement with The Phoenix Insurance Company Ltd. (subsidiary) 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:	29/09/2025
	www.isa.gov.il			www.tase.co.il				Reference:	2025-01-072775	Time of broadcast: 15:54 15:54

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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:   _________   _________   _________

Immediate Report � Central District Court Decision Regarding Clarification Request in Class Action Settlement with Phoenix Insurance Company Ltd. (subsidiary) The Company announce that on September 25, 2025, the Central District Court ("Court") issued its decision regarding the clarification request concerning the implementation of the settlement agreement submitted by The Phoenix Insurance Company Ltd., a subsidiary of the Company (�Phoenix Insurance�), together with the other defendants (as detailed in Note 9d(1) to the Company�s financial statements as of March 31, 2025, published on May 29, 2025 (reference number 2025-01-038652)) (�Clarification Request�), and the position of the Attorney General (as detailed in the immediate report dated August 17, 2025 (reference number 2025-01-060984)) (�Position�). This matter arises within the framework of a class action alleging unlawful collection of a charge referred to as the �Policy Factor,� which allegedly impaired the savings accumulated for policyholders under life insurance policies (as detailed in the immediate report dated August 17, 2024 (reference number 2024-01-083649)). The following are the key points of the Court�s decision regarding the substantive issues raised in the Clarification Request and the Position: �Addition of Yield in Cases of Reimbursement after the Reduction Date � The Court accepted the Position of the Attorney General, ruling that yield payments must be added up to the actual date of reimbursement to the members of the class. �Calculation of Reimbursement Rate When Additional Coverage Was Purchased alongside the Basic Policy � The Court accepted the Position of the Attorney General, ruling that the proportional cost of savings should not be calculated based on the total cost of all coverages under the basic policy and its riders. However, the Court further held that pure savings or any savings not included in the �preferred� component shall not be credited to the benefit of the policyholders. Phoenix Insurance is currently reviewing the Court�s decision and its reasoning. Phoenix Insurance has an appropriate provision recorded in its books, and therefore, the decision is not expected to have a material impact on the financial statements.

Attached hereto is a report on	Central District Court Decision Regarding Clarification Request in Class Action Settlement with The Phoenix Insurance Company Ltd. (subsidiary)

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	Reference to parallel Hebrew report:	2025-01-072467
	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 which was published on September 28, 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