The Phoenix Holdings Ltd.

M&A Activity • Oct 27, 2021

Obtaining an Approval from the Competition Authority regarding an Agreement to Sale the Control in Ad 120 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:	27/10/2021
	www.isa.gov.il			www.tase.co.il				Reference:	2021-01-091894	Time of broadcast: 14:10 14:10

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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: Completion of the Sale of Control in Ad 120 Following the Immediate Reports dated January 28th, 2021 (Reference No. 2021-01-011200), August 1st, 2021 (Reference No. 2021-01-059806), September 22nd, 2021 (Reference No. 2021-01-147942) and October 14th, 2021 (Reference No. 2021-01-088000), which are incorporate herein by reference, the Company is hereby honored to report that on October 27th, 2021, after meeting all the conditions precedent for its completion, the sale of control in Ad 120 Retirement Centers for Senior Citizens Ltd. ("Ad 120"), which was wholly-owned (directly and indirectly) by The Phoenix Insurance Company Ltd. (the Company's subsidiary) ("The Phoenix Insurance"), to Shapir Housing and Building Ltd., a wholly-owned subsidiary of Shapir Engineering and Industry Ltd. ("Shapir"), was completed (the "Sale"). Thus, upon completion of the Sale, Shapir holds 53% (directly and indirectly) of the issued and outstanding share capital of Ad 120 and The Phoenix Insurance holds 47% (directly and indirectly) of the issued and outstanding share capital of Ad 120. Furthermore, upon completion of the Sale, limited partnerships wholly-owned by Ad 120, now own two parcels of land that were held by Shapir, one in Jerusalem and one in Ness Ziona, which are designated for assisted living, offices and commerce and which are in development stage.

Attached hereto is a report on	Obtaining an Approval from the Competition Authority regarding an Agreement to Sale the Control in Ad 120

Ad_120_closing_isa.pdf

	Reference to parallel Hebrew report:	2021-01-091774
	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 above and attached report is a convenience translation only and the parallel Hebrew immediate report 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: 19/10/2021
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