The Phoenix Holdings Ltd.

Capital/Financing Update • Jan 22, 2023

Re: Notice of Consideration of a Public Offering of BondsThe Company is hereby announcing that it is considering the possibility of publishing a shelf offering report, according to which, the public will be offered, in a uniform offer, additional Bonds (Series 6) of the Company by way of a series expansion, which will be registered for trading on the TASE, by virtue of the Company's shelf prospectus published on August 23, 2022, and which bears the date of August 24, 2022 (Reference No.: 107443) (This information constitutes an inclusion by way of reference) (hereinafter: "Bonds" and "TASE", respectively).As of the date of this Immediate Report, that is, the date of the public offering, its terms and scope have not yet been determined and nothing in this Immediate Report shall impose any liability on the part of the Company to act on the aforementioned bond offering. It is hereby clarified that the publication of the shelf offering report and the execution of the offer thereunder (insofar as it is carried out), is subject to obtaining all the approvals required by law, including the approval of the Company's BOD (including in relation with the date of the public offering, its terms and scope and including in relation with the publication of the shelf offering report), obtaining recent rating reports from Midroog Ltd. and from S&P Global Ratings Maalot Ltd., the TASE's approval for the listing of the bonds for trading and the publication of a shelf offering report. It shall also be clarified that there is no certainty that the aforementioned public offering will indeed carry out.This Immediate Report should not be deemed a public offering or an invitation to purchase the Company's securities, and any such offer or invitation (insofar as it is made) shall be detailed in the shelf offering report that will be published by the Company (insofar as it is published). false

������ ������ ��"�	1 818
THE PHOENIX HOLDINGS LTD
Corporation no: 520017450	10820
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	Israel Securities Authority			Tel Aviv Stock Exchange		�150 ( Public )		Reported via MAGNA:	22/01/2023
	www.isa.gov.il			www.tase.co.il				Reference:	2023-01-008602	Time of broadcast: 13:04 13:04

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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: Notice of Consideration of a Public Offering of Bonds The Company is hereby announcing that it is considering the possibility of publishing a shelf offering report, according to which, the public will be offered, in a uniform offer, additional Bonds (Series 6) of the Company by way of a series expansion, which will be registered for trading on the TASE, by virtue of the Company's shelf prospectus published on August 23, 2022, and which bears the date of August 24, 2022 (Reference No.: 107443) (This information constitutes an inclusion by way of reference) (hereinafter: "Bonds" and "TASE", respectively). As of the date of this Immediate Report, that is, the date of the public offering, its terms and scope have not yet been determined and nothing in this Immediate Report shall impose any liability on the part of the Company to act on the aforementioned bond offering. It is hereby clarified that the publication of the shelf offering report and the execution of the offer thereunder (insofar as it is carried out), is subject to obtaining all the approvals required by law, including the approval of the Company's BOD (including in relation with the date of the public offering, its terms and scope and including in relation with the publication of the shelf offering report), obtaining recent rating reports from Midroog Ltd. and from S&P Global Ratings Maalot Ltd., the TASE's approval for the listing of the bonds for trading and the publication of a shelf offering report. It shall also be clarified that there is no certainty that the aforementioned public offering will indeed carry out. This Immediate Report should not be deemed a public offering or an invitation to purchase the Company's securities, and any such offer or invitation (insofar as it is made) shall be detailed in the shelf offering report that will be published by the Company (insofar as it is published).

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	Reference to parallel Hebrew report:	2023-01-009876
	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 which was published on 19 January 2023 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: 29/12/2022
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