Bank Hapoalim B M : Immediate Report regarding Imposition of a Financial Sanction by the Securities Authority in Connection with the Advising Law

The following is an unofficial translation of the Hebrew report and has been prepared for convenience only. In case of any discrepancy, the Hebrew version prevails.

מ"עב םילעופה קנב

Bank Hapoalim B.M.

Number with the Registrar: 520000118

Securities Authority	Tel Aviv Stock Exchange Ltd.	Tav 121 Transmitted via Magna: 06/01/2021
www.isa.gov.il	www.tase.co.il	(Public)	Reference: 2021-01-002560

Immediate Report

Explanation: This form should not be used when there is a form

appropriate to the reported event.

Results of an issue should be reported on Tav 20 and not on this form.

A report on the rating of bonds or the rating of a corporation

should be filed under Form Tav 125.

Nature of the Event: Imposition of a Financial Sanction by the Securities Authority in Connection with

the Advising Law

Reference numbers of previous reports on the subject: _______ _________ _________

Bank Hapoalim B. M. ("the Bank") respectfully reports that on 5.1.2021 it received notice from the Securities Authority ("the Authority") demanding payment of a financial sanction in the amount of NIS 480,000 under Section 38A of the Regulation of the Practice of Investment Advising, Investment Marketing and Investment Portfolio Management law, 5755-1995 ("the Advising Law").

The financial sanction was imposed due to defects at the Bank in connection with the execution of a procedure of clarification of its customers' requirements once every year as required under the regulations of the Authority, including documentation of conversations updating requirements with clients by two investment advisors of the Bank, without the conversations actually having been held and failing to hold conversations updating requirements for more than a year with certain clients of the two aforesaid investment advisors.

The amount of the financial sanction was arrived at after it was reduced by 40%, the Authority deciding to do so, among other things, on account of contentions raised by the Bank.

Attached is a file _____________________

The company is not an enveloping company as defined in the TASE Rules and Regulations

The date and time when the corporation first learned of the event: 05/01/2021 at 17:45 p.m.

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Particulars of the signatories authorized to sign on behalf of the corporation:

	Name of Signatory	Job Title
1	Yael Almog	Other
		The Chief Legal Advisor
2	Ram Gev	Other
		Chief Financial Officer

Explanation: According to Regulation 5 of the Periodic and Immediate Reports Regulations, 5730-1970, a report filed pursuant to these Regulations should be signed by the persons authorized to sign on behalf of the corporation. ISA Staff position on the subject can be found on the ISA website: Press here.

Signed on 6.1.2021

The reference numbers of the previous documents on the subject (any citation made does not constitute inclusion by way of reference):

The securities of the corporation are listed for trading on the Tel - Aviv Stock Exchange

Date on which the structure of the form was updated: 31/12/2020

Abbreviated Name: Poalim

Address: POB 27, Tel Aviv 6100001 Telephone: [phone] 3333, Fax: [phone]

Electronic Mail:[e-mail] Website:http://www.bankhapoalim.co.il

Previous names of reporting entity:

Name of Electronic Reporter: Bloch Gilad, His Job Title: Secretary of the Bank, Name of Employing Company:

Address: Yehuda Halevy 63, Tel-Aviv 6578109, Telephone: [phone] Fax: [phone],

Electronic Mail:[e-mail]

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