Re:Immediate Report – LPT Transaction - UpdateFollowing the Company's immediate report dated December 11, 2024 (Reference No. 2024-01-623472) regarding the engagement of The Phoenix Insurance Company Ltd., a wholly-owned subsidiary of the Company, in a LPT reinsurance agreement with Ayalon Insurance Company Ltd., ("Ayalon") subject to the approval of the Commissioner of the Capital Market, Insurance and Savings Authority, the Company pleased updates as follows:On December 31, 2024, Ayalon received a letter from the Capital Market, Insurance and Savings Authority, indicating that Ayalon is not permitted to recognize the transaction within the framework of calculating the Economic Solvency Ratio, thus the condition for the engagement has not been met.To the best of the Company's knowledge, Ayalon intends to engage in discussions with the Capital Market, Insurance and Savings Authority regarding its aforementioned position. false

הפניקס פיננסים בע"מ	1 818
PHOENIX FINANCIAL LTD
Corporation no: 520017450	14969

	Israel Securities Authority			Tel Aviv Stock Exchange		ת150 ( Public )		Reported via MAGNA:	01/01/2025
	www.isa.gov.il			www.tase.co.il				Reference:	2025-01-000140	Time of broadcast: 10:04 10:04

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:Immediate Report – LPT Transaction - Update Following the Company's immediate report dated December 11, 2024 (Reference No. 2024-01-623472) regarding the engagement of The Phoenix Insurance Company Ltd., a wholly-owned subsidiary of the Company, in a LPT reinsurance agreement with Ayalon Insurance Company Ltd., ("Ayalon") subject to the approval of the Commissioner of the Capital Market, Insurance and Savings Authority, the Company pleased updates as follows: On December 31, 2024, Ayalon received a letter from the Capital Market, Insurance and Savings Authority, indicating that Ayalon is not permitted to recognize the transaction within the framework of calculating the Economic Solvency Ratio, thus the condition for the engagement has not been met. To the best of the Company's knowledge, Ayalon intends to engage in discussions with the Capital Market, Insurance and Savings Authority regarding its aforementioned position.

_________

	Reference to parallel Hebrew report:	2025-01-000060
	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 .

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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: 06/08/2024
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 אחזקות בע"מ, הפניקס הישראלי חברה לבטוח בע"מ
Name of the Signatory: סירקיס אלעד Position of Signatory in the reporting corporation: Name of Employer Company: הפניקס חברה לביטוח בע"מ
Address: דרך השלום 53 , גבעתיים 5345433 Telephone: 074-7315656 Facsimile: 03-7238855 E-mail: Elads1@fnx.co.il 1