The Phoenix Holdings Ltd. — Capital/Financing Update 2021

Aug 3, 2021

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

The Phoenix Holdings Ltd. ("the Company")

To To

The Tel Aviv Stock Exchange Ltd.The Securities Authority

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

Subject: The Phoenix Capital Raising (2009) Ltd. - Trust Deed Series Twelve Publication

Following the Company's immediate reports dated May 27, 2021 and July 27, 2021 (the English report has been published on July 29, 2021) (Reference No. 2021-01- 091977 & 2021-01-059719, respectively), the Company is pleased to announce that on August 2, 2021, The Phoenix Capital Raising (2009) Ltd. (a second-tier subsidiary of the Company) has published a trust deed for the issuance of Series 12 Deferred Liabilities Deeds (RT1) to institutional investors in a total amount of up to NIS 1.5 billion (NIS 400 million shall be issued to institutional investors through a private placement and NIS 1.1 billion shall be issued to the company in exchange for deferred liabilities deeds previously issues to the company by The Phoenix Insurance Company Ltd.).

The Deferred Liabilities Deeds are expected to be listed on the Tel-Aviv Stock Exchange institutional list (the TACT).

Respectfully,

The Phoenix Holdings Ltd. c/o Attorney Meni Neeman, Chief Legal Counsel and Secretary of the Company