Re: A verdict by the Supreme Court Accepting the Phoenix Insurance Appeal and Rejecting a Request to Approve a Class Action against the Phoenix InsuranceThe Company is hereby announcing that The Supreme Court rendered a verdict on June 22, 2023 on the motion for leave to appeal submitted by The Phoenix Insurance Company Ltd., a subsidiary of the Company (hereinafter: "The Phoenix Insurance"), as well as three other insurance companies, on the decision of the District Court dated May 2019, to approve a claim and a motion to certify the claim as a class action, which concerns with the allegation that The Phoenix Insurance collects investment management costs in the Excellence Invest Savings Policies, in the absence of an express provision in the policy enabling it to act in this way (See details in the Immediate Report dated January 1, 2022 (Reference Nr. 2022-01-001383) and in Note 7a(9) to the Company's financial statements as of March 31, 2023, which were published on May 31, 2023 (Reference Nr. 2023-01-050344)).The Supreme Court ruled in its verdict that the appeal is accepted and the motion to certify the claim as a class action is denied.This brings the proceeding to an end. false

הפניקס אחזקות בע"מ	1 818
THE PHOENIX HOLDINGS LTD
Corporation no: 520017450	10820

	Israel Securities Authority			Tel Aviv Stock Exchange		ת150 ( Public )		Reported via MAGNA:	25/06/2023
	www.isa.gov.il			www.tase.co.il				Reference:	2023-01-058882	Time of broadcast: 08:57 08:57

English language report to Israeli corporate

This 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: A verdict by the Supreme Court Accepting the Phoenix Insurance Appeal and Rejecting a Request to Approve a Class Action against the Phoenix Insurance The Company is hereby announcing that The Supreme Court rendered a verdict on June 22, 2023 on the motion for leave to appeal submitted by The Phoenix Insurance Company Ltd., a subsidiary of the Company (hereinafter: "The Phoenix Insurance"), as well as three other insurance companies, on the decision of the District Court dated May 2019, to approve a claim and a motion to certify the claim as a class action, which concerns with the allegation that The Phoenix Insurance collects investment management costs in the Excellence Invest Savings Policies, in the absence of an express provision in the policy enabling it to act in this way (See details in the Immediate Report dated January 1, 2022 (Reference Nr. 2022-01-001383) and in Note 7a(9) to the Company's financial statements as of March 31, 2023, which were published on May 31, 2023 (Reference Nr. 2023-01-050344)). The Supreme Court ruled in its verdict that the appeal is accepted and the motion to certify the claim as a class action is denied. This brings the proceeding to an end.

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	Reference to parallel Hebrew report:	2023-01-058729
	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 .

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note that the attached report is a convenience translation only and the parallel Hebrew immediate report which was published on June 22, 2023 is the binding report.
References of previous documents relating to this matter(the reference does not constitute incorporation by reference):
Stock Exchange/Market: הפניקס	Date of revision of form structure: 20/06/2023
Address: דרך השלום 53 , גבעתיים 53454   , Tel: 03-7332997 , 03-7338174 Fax: 03-7238855
E-mail address: menin@fnx.co.il
Previous names of reporting entity: הפניקס הישראלי חברה לבטוח בע"מ
Name of the Signatory: נאמן מנחם Position of Signatory in the reporting corporation: Name of Employer Company:
Address: דרך השלום 53 , גבעתיים 53454 Telephone: 03-7332997 Facsimile: 03-7238831 E-mail: menin@fnx.co.il 1