The Phoenix Holdings Ltd.

Legal Proceedings Report • Jun 15, 2023

Re: A Claim and a Motion to Certify the Claim as a Class Action Against The Phoenix Insurance Company Ltd. & The Phoenix Pension & Provident Ltd. (subsidiaries) - Immediate Report Notice is hereby given that a Claim has been filed to the Tel Aviv � Yafo District Court against subsidiaries of the Company, The Phoenix Insurance Company Ltd. (hereinafter: "The Phoenix Insurance") and The Phoenix Pension & Provident Fund Ltd. (hereinafter: "The Phoenix Pension & Provident"), as well as against 4 additional insurance companies (hereinafter: "The Defendants"), accompanied by a motion to certify the Claim as a class action (hereinafter, collectively: "The Claim").The matter of the Claim, according to the plaintiffs, is that as of 1.1.2012, when Amendment 190 to the Income Tax Ordinance [New Version] came into force, so it is claimed, the Defendants did not ensure that the recipients of annuities from one of the new pension funds and/or the provident funds and/or the insurance funds managed by them, would be given a tax exemption for those entitled thereto, for a component known as "recognized annuity", as defined in the Income Tax Ordinance.According to the Plaintiffs, the alleged damage to all the members of the group amounts to a total nominal amount of NIS 297 million, in relation to all the Defendants together.At this stage, The Phoenix Insurance and The Phoenix Pension & Provident are studying the details of the Claim, and therefore the chances of its approval as a class action cannot be assessed, and if it is approved, the chances of its success cannot be assessed. 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:	15/06/2023
	www.isa.gov.il			www.tase.co.il				Reference:	2023-01-056323	Time of broadcast: 15:29 15:29

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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: A Claim and a Motion to Certify the Claim as a Class Action Against The Phoenix Insurance Company Ltd. & The Phoenix Pension & Provident Ltd. (subsidiaries) - Immediate Report Notice is hereby given that a Claim has been filed to the Tel Aviv � Yafo District Court against subsidiaries of the Company, The Phoenix Insurance Company Ltd. (hereinafter: "The Phoenix Insurance") and The Phoenix Pension & Provident Fund Ltd. (hereinafter: "The Phoenix Pension & Provident"), as well as against 4 additional insurance companies (hereinafter: "The Defendants"), accompanied by a motion to certify the Claim as a class action (hereinafter, collectively: "The Claim"). The matter of the Claim, according to the plaintiffs, is that as of 1.1.2012, when Amendment 190 to the Income Tax Ordinance [New Version] came into force, so it is claimed, the Defendants did not ensure that the recipients of annuities from one of the new pension funds and/or the provident funds and/or the insurance funds managed by them, would be given a tax exemption for those entitled thereto, for a component known as "recognized annuity", as defined in the Income Tax Ordinance. According to the Plaintiffs, the alleged damage to all the members of the group amounts to a total nominal amount of NIS 297 million, in relation to all the Defendants together. At this stage, The Phoenix Insurance and The Phoenix Pension & Provident are studying the details of the Claim, and therefore the chances of its approval as a class action cannot be assessed, and if it is approved, the chances of its success cannot be assessed.

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	Reference to parallel Hebrew report:	2023-01-056008
	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

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 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: 02/05/2023
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