Phoenix : 2021 Q3 financial report - translated version

Consolidated Interim

Financial Statements as of

September 30 2021

(Unaudited)

The Phoenix Holdings Ltd.

Table of Contents

Part 1

Part 2

Part 3

Part 4

Part 5

Report of the Board of Directors on the State of the Corporation's Affairs

Consolidated Interim Financial Statements

Standalone Financial Data from the Consolidated Interim Financial Statements Attributed to the Company

Report on the Effectiveness of Internal Control over Financial Reporting and Disclosure

Statements Regarding Controls and Procedures in respect of Disclosure in the Financial Statements of The Phoenix Insurance Company Ltd.

Members of the Board

Benjamin Gabbay - Chairman

Roger Abravanel

Ben Langworthy

Marilyn Victoria Hirsch

Zhak Cohen

Rachel Levine (External Director)

Zohar Tal (External Director)

Dr. Ehud Shapira (Independent Director)

Eliezer Yones

Report of the Board

of Directors on the

State of the

Corporation's Affairs

as of September 30,

2021

Report of the Board of Directors on the State of the Corporation's Affairs as of September 30, 2021

	Table of Contents
1.	The Group's Structure, its Areas of Activity, and Developments Therein	................. 3
2.	Description of the Business Environment ...............................................................	10
3.	Developments in the Macroeconomic Environment ................................................	20
4.	Business Targets and Strategy ................................................................................	22

5. The Board of Directors' Explanations for the State of the Corporation's Business. 23

6.	Disclosure on Exposure to, and Management of, Market Risks ..............................	47
7.	Linkage balance.......................................................................................................	49
8.	Corporate Governance Aspects ...............................................................................	52
9.	Disclosure Provisions Relating to the Corporation's Financial Reporting...............	54

The Phoenix Holdings Ltd.

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