The Phoenix Holdings Ltd.

Legal Proceedings Report • Sep 27, 2024

Re: Central District Court issued a ruling approving a settlement in application for approval of class action against The Phoenix Insurance Company Ltd. (subsidiary) - Immediate Report false

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PHOENIX FINANCIAL LTD
Corporation no: 520017450	14969
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	Israel Securities Authority			Tel Aviv Stock Exchange		�150 ( Public )		Reported via MAGNA:	27/09/2024
	www.isa.gov.il			www.tase.co.il				Reference:	2024-01-606319	Time of broadcast: 00:08 00:08

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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:   _________   _________   _________

Re: Central District Court issued a ruling approving a settlement in application for approval of class action against The Phoenix Insurance Company Ltd. (subsidiary) - Immediate Report The Company announce that on September 20, 2024, the Central District Court issued a ruling approving a settlement in the application for approval of the class action filed against a subsidiary of the Company, Phoenix Insurance Company Ltd. ("Phoenix Insurance"), which concerns the claim that in executive insurance policies issued by Phoenix Insurance to its policyholders more than 40 years ago - until July 19, 1984 - indexation, due to an insurance incident or due to the redemption of a policy, was done illegally and in a manner that harms policyholders (see detailed in the immediate report dated February 2, 2016 (reference number 2016-01-021688) and in annotation 43A1(7) to the Company's financial statements as of December 31, 2023, which were published on March 27, 2024 (reference number 2024-01-026677). Pursuant to the approved settlement, Phoenix Insurance will pay members of the group who are policyholders who entered into policies between January 1, 1980 and August 31, 1982 (the first group) and policyholders who entered into policies between September 1, 1982 and July 19, 1984 (the second group) (all in accordance with the definitions in the settlement), compensation at the rate of 15% or 25% (respectively for the above groups) of the difference between the amounts calculated according to the terms of the policy according to the index determined in the actual policy and the calculation of these amounts according to the index that should have been determined as claimed in the approval application. It was also agreed that Phoenix Insurance would pay remuneration to the class plaintiffs and attorneys' fees. The amounts pursuant to the judgment are not material to Phoenix Insurance and there is an appropriate provision against them in the books. This brings this process to an end and Phoenix Insurance is working to implement the settlement.

Attached hereto is a report on	Re: Central District Court issued a ruling approving a settlement in application for approval of class action against The Phoenix Insurance Company Ltd. (subsidiary) - Immediate Report

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	Reference to parallel Hebrew report:	2024-01-605519
	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	Elad Sirkis	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 24 September, 2024 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: 06/08/2024
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 , ������� 5345433 Telephone: 074-7315656 Facsimile: 03-7238855 E-mail: Elads1@fnx.co.il 1