The Phoenix Holdings Ltd.

Capital/Financing Update • May 11, 2022

Re: Expansion of bond (series K) - The Phoenix Capital Raising (2009) Ltd. second-tier subsidiary of the Company - Public Stage results Following the Company's Immediate Report dated 4.5.2022 (Reference No.: 2022-01-054586) (This information constitutes an inclusion by way of reference), the Company is hereby honored to announce, that a second-tier subsidiary of the Company, The Phoenix Capital Raising (2009) Ltd. (hereinafter: "The Phoenix Capital Raising"), raised a total of NIS 272,239 thousand, as part of the public offering (by way of extension) of Bonds (Series K) (hereinafter: "the Bonds").The terms of the Bonds are as specified in the Shelf Offering Report according to The Phoenix Capital Raising's shelf prospectus which bears the date of August 16, 2019, and which was extended until August 15, 2022, according to a permit from the Securities Authority (hereinafter: "Shelf Offering Report").In accordance with the terms specified in the Shelf Offering Report, the amount raised will be deposited within The Phoenix Insurance Company Ltd. (hereinafter: "The Phoenix"), a subsidiary of the Company, for use at its sole discretion and responsibility.The Bonds were recognized by the Commissioner of the Capital Market, Insurance and Savings Authority in the Ministry of Finance as a Tier 2 Capital Instrument by The Phoenix. false

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THE PHOENIX HOLDINGS LTD
Corporation no: 520017450	10820
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	Israel Securities Authority			Tel Aviv Stock Exchange		�150 ( Public )		Reported via MAGNA:	11/05/2022
	www.isa.gov.il			www.tase.co.il				Reference:	2022-01-046629	Time of broadcast: 14:22 14:22

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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:   _________   _________   _________

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Attached hereto is a report on

Re: Expansion of bond (series K) - The Phoenix Capital Raising (2009) Ltd. second-tier subsidiary of the Company - Public Stage results Following the Company's Immediate Report dated 4.5.2022 (Reference No.: 2022-01-054586) (This information constitutes an inclusion by way of reference), the Company is hereby honored to announce, that a second-tier subsidiary of the Company, The Phoenix Capital Raising (2009) Ltd. (hereinafter: "The Phoenix Capital Raising"), raised a total of NIS 272,239 thousand, as part of the public offering (by way of extension) of Bonds (Series K) (hereinafter: "the Bonds"). The terms of the Bonds are as specified in the Shelf Offering Report according to The Phoenix Capital Raising's shelf prospectus which bears the date of August 16, 2019, and which was extended until August 15, 2022, according to a permit from the Securities Authority (hereinafter: "Shelf Offering Report"). In accordance with the terms specified in the Shelf Offering Report, the amount raised will be deposited within The Phoenix Insurance Company Ltd. (hereinafter: "The Phoenix"), a subsidiary of the Company, for use at its sole discretion and responsibility. The Bonds were recognized by the Commissioner of the Capital Market, Insurance and Savings Authority in the Ministry of Finance as a Tier 2 Capital Instrument by The Phoenix.

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	Reference to parallel Hebrew report:	2022-01-055336
	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	Meni Neeman	Other Chief Legal Officer & Company 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 the 8 of May 2022 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: 27/04/2022
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 , ������� 53454 Telephone: 03-7332997 Facsimile: 03-7238831 E-mail: menin@fnx.co.il 1