How to replace a URL inside pages & posts across entire site?

We have hyperlinks to a given URL(call it #1) that we need to update to URL #2. URL #1 is found in numerous posts and pages and need to change to #2. However, #2 needs to remain in place for other needs, so a simple redirect is not a solution.

Is there a SQL query in phpmyadmin that would allow to say REPLACE all URL1 links in pages or posts, to URL2? Am no SQL expert so guidance much welcome.