The Phoenix Holdings Ltd.

Legal Proceedings Report • Apr 8, 2021

8.4.2021

The Phoenix Holdings Ltd. ("the Company")

To To

The Securities Authority The Tel Aviv Stock Exchange Ltd.

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

NOTE: THE ORIGINAL HEBREW IMMIDIATE REPORT WAS REPORTED BY THE COMPANY ON THE 7TH OF APRIL 2021.

Subject: The Phoenix Excellence Pension and Provident Fund Ltd. ("Excellence Provident") _- Immediate Report

Further to the Immediate Report dated May 11, 2020 (Reference No. 2020-01-041551) and further to what was stated in Note 42(A)(1)(46) to the financial statements of the Company as of December 31, 2020, that were published on March 25, 2021 (Reference No. 2021-01-044709), in regard to a claim and a request to approve it as a class action that was submitted against Excellence Provident, a pension and provident management company, that is a granddaughter company of the Company, and against 9 additional management companies (hereafter jointly: "the Defendants"), and whose subject is an allegation of unlawful collection of payments by the Enforcement and Collection Authority and their transfer to the Defendants with respect to foreclosures that were requested, the Company updates that on April 7, 2021, the court handed a ruling that instructs that the request for the approval is expunged.

In this way, the proceeding came to an end.

The date on which the occurrence became known to the Company was 7 th of April 2021 at 13:10.

Respectfully,

The Phoenix Holdings Ltd.

c/o Attorney Meni Neeman, Legal Counsel and Secretary of the Company