Icl Group Ltd. · TASE:ICL
Icl — Q1 2026 Earnings Presentation
22 slides from Icl's earnings presentation, May 13, 2026
Slide 1: 2026 First Quarter Financial Results
2026 First Quarter Financial Results Elad Aharonson | President and CEO May 13 , 2026
Slide 2: Important legal notes
Important legal notes Disclaimer and safe harbor for forward - looking statements This presentation contains statements that constitute “ forward - looking statements, ” many of which can be identified by the use of forward - looking words such as “ anticipate, ” “ believe, ” “ could, ” “ expect, ”
Slide 3: Overview | strong 1Q'26 results
3 Overview | strong 1 Q ’ 26 results ( 1 ) Adjusted net income, adjusted EBITDA, adjusted diluted EPS and free cash flow are non - GAAP financial measures; see reconciliat ion tables in appendix. Highlights vs. 1 Q ’ 25 • Sales up 14 % • Adjusted net income ( 1 ) up 26 % • Adjusted EBITDA ( 1 ) up 1
Slide 4: Industrial Products
Note: Segment EBITDA and margin are non - GAAP financial measures; please see appendix for additional details. Industrial Products US$M EBITDA US$M Sales Key developments in 1 Q ’ 26 • Improvement in both sales and EBITDA YoY • Bromine prices: significant increase YoY • Flame retardants: bromine - b
Slide 5: Potash
5 Note: Segment EBITDA and margin are non - GAAP financial measures; please see appendix for additional details. Potash • Average potash CIF price per ton of $ 362 vs. $ 300 in 1 Q ’ 25 • Sales and EBITDA up YoY • Production of 1.2 Mmt – ahead of 1 Q ’ 25 • Continued to prioritize best markets, to m
Slide 6: Phosphate Solutions
6 $ 573 $ 679 $0 $200 $400 $600 $800 1Q'25 1Q'26 $ 139 $ 131 $0 $100 $200 1Q'25 1Q'26 Phosphate Solutions Note: Segment EBITDA and margin are non - GAAP financial measures; please see appendix for additional details. ( 1 ) For 1 Q ’ 26 , Phosphate Specialties were $ 368 M of segment sales, $ 32 M of
Slide 7: Growing Solutions
Note: Segment EBITDA and margin are non - GAAP financial measures; please see appendix for additional details. 7 Growing Solutions $ 495 $ 551 $0 $200 $400 $600 $800 1Q'25 1Q'26 $ 47 $ 49 $0 $100 $200 1Q'25 1Q'26 US$M EBITDA US$M Sales 9 % 9 % • Specialty fertilizer growth helped drive higher sales
Slide 8: Key takeaways
Delivered strong start to year • Good growth across key financial metrics 8 Swiftly navigated changes in market conditions • Demonstrated operational resilience, with exceptional execution Focused on production improvements • Driving efficiencies across operations Continued to manage cost inputs and
Slide 9: Guidance | FY'26
As of 5.13.26 . ( 1 ) Adjusted EBITDA is a non - GAAP measure; please see appendix for additional details. The company provides guidance for consolida ted adjusted EBITDA and for its Potash segment, it provides sales volumes guidance. The company believes this information provides greater transparen
Slide 10: First Quarter 2026 Financial Results
First Quarter 2026 Financial Results Aviram Lahav CFO
Slide 11: Key indicators | QoQ average change
Inflation Interest Rates Notes: See appendix for additional details, including timing. USD vs. NIS U.S. Housing Starts Macro Grain Price Index Farmer Sentiment Commodity Prices Supramax Timecharter Average Price Fertilizer U.S. Retail Trade and Food Services P 2 O 5 Prices Chinese Bromine Price Tren
Slide 12: Sales bridge First quarter 2026
12 Sales bridge First quarter | 2026 Notes: Numbers rounded to closest million; Other includes intercompany eliminations. Sales by segment US$M Sales US$M $ 1,767 $ 2,023 $ 5 $ 98 $ 106 $ 56 ($ 9 ) $0 $500 $1,000 $1,500 $2,000 $2,500 1Q'25 Industrial Products Potash Phosphate Solutions Growing Solut
Slide 13: Profit bridge First quarter 2026
13 Profit bridge First quarter | 2026 Notes: Adjusted EBITDA is a non - GAAP financial measure; please see reconciliation tables in appendix. Numbers rounded to closest million; Other includes intercompany eliminations. Adjusted EBITDA by segment US$M Adjusted EBITDA US$M $ 359 $ 412 $ 10 $ 54 ($ 8
Slide 14: Financial highlights
14 Financial highlights | 1 Q ’ 26 Notes: Available cash resources, as of 3.31.26 , and comprised of cash and deposits, unutilized revolving credit facility, and unutilized securitization. Net debt to adjusted EBITDA and FCF, as of 3.31.26 , are non - GAAP financial measure; see appendix for additio
Slide 15: Thank you
Thank you Contact Peggy.ReillyTharp@icl - group.com for more information on ICL View our interactive data tool at: https://investors.icl - group.com/interactive - data - tool/default.aspx
Slide 16: Key market metrics | macro indicators
Sources: CPI Inflation, shor t - term interest rates and U.S. housing starts – CRU and Oxford Economics, as of 5.4.26 . USD vs. NIS – Bank of Israel at quarter end, as of 5.4.26 . 16 Key market metrics | macro indicators Inflation Rate -5% 0% 5% 10% 15% 1Q'22 2Q'22 3Q'22 4Q'22 1Q'23 2Q'23 3Q'23 4Q'2
Slide 17: Key market metrics | fertilizer indicators
Key market metrics | fertilizer indicators Sources: Grain prices – CME, Grain Price Index – calculated, both as of 1 Q ’ 26 . Farmer sentiment – Purdue/CME Ag Economy Barometer, as of 5.5.26 . Potash (granular bulk FOB U.S. NOLA barge spot, US$/ st ), TSP (g ranular bulk CFR Brazil spot, US$/t) , ur
Slide 18: Key market metrics | other indicators
Key market metrics | other indicators 18 Relevant for Industrial Products and Phosphate Specialties Sour ces: Chinese bromine p rices – b ased on internal estimates, as of 1 Q ’ 26 . P 2 O 5 (phosphoric acid bulk CFR India quarterly 100 % P 2 O 5 contract, US$/t) – CRU, as of 1 Q ’ 26 . U.S. durable
Slide 19: Calculation of segment EBITDA
1 Q ’ 26 1 Q ’ 25 Phosphate Solutions ( 1 ) US$M $ 679 $ 573 Segment sales $ 81 $ 91 Segment operating income 12 % 16 % Segment operating margin $ 50 $ 48 Depreciation and amortization $ 131 $ 139 Segment EBITDA 19 % 24 % Segment EBITDA margin Calculation of segment EBITDA | 1 Q ’ 26 1 Q ’ 26 1 Q ’
Slide 20: Segment results analysis
Segment results analysis | 1 Q ’ 26 Growing Solutions Phosphate Solutions ( 1 ) Potash Industrial Products Segment Sales US$M $ 495 $ 573 $ 405 $ 344 1 Q ’ 25 $ 6 $ 21 $ 22 ($ 42 ) Quantity $ 13 $ 63 $ 62 $ 40 Price $ 37 $ 22 $ 14 $ 7 Exchange rates $ 551 $ 679 $ 503 $ 349 1 Q ’ 26 Growing Solutions
Slide 21: Reconciliation tables
Reconciliation tables | 1 Q ’ 26 Calculation of adjustments 1 Q ’ 26 1 Q ’ 25 Adjusted EBITDA US$M $ 140 $ 106 Net income $ 42 $ 37 Financing expenses, net $ 53 $ 42 Taxes on income - - Less: Share in earnings of equity - accounted investees $ 235 $ 185 Operating income $ 160 $ 151 Depreciation and
Slide 22: Guidance and financial measures
Guidance and non - GAAP financial measures Guidance: The company only provides guidance on a non - GAAP basis. The company does not provide a reconciliation of forward - looking adjuste d EBITDA (non - GAAP) to GAAP net income (loss), due to the inherent difficulty in forecasting, and quantifying ce