Icl Group Ltd. · TASE:ICL
Icl — Q2 2026 Earnings Presentation
32 slides from Icl's earnings presentation, Aug 5, 2026
Slide 1: Second Quarter 2026 Financial Results
2026 Second Quarter Financial Results Elad Aharonson | President and CEO August 5, 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,” “should,” “plan,
Slide 3: Overview | strong 2Q'26 results
Overview | strong 2Q’26 results Highlights vs. 2Q’25 • Sales up 17% $2.1B $149M $448M • Adjusted net income up 35% (1) total adjusted net adjusted • Adjusted EBITDA up 28% (1) sales income(1) EBITDA(1) • Adjusted EPS up 33% (1) • Solid growth across key financial metrics • Swiftly responded to chang
Slide 4: Strategic Principles Update
Strategic Principles Update Elad Aharonson President and CEO
Slide 5: November 2025 strategy review
November 2025 strategy review Principles guiding execution • Specialty Crop Nutrition • Maximize potash and phosphate • Portfolio optimization • Specialty Food Solutions • Maintain market leadership in • Optimizing cost structure bromine market Note: Specialty crop nutrition refers to the Growing So
Slide 6: Two growth engines
Two growth engines Targeting attractive end markets Specialty Food Specialty Crop Solutions Nutrition 6
Slide 7: Specialty crop nutrition
Specialty crop nutrition Significant growth in recent years SPECIALTY CROP NUTRITION SPECIALTY CROP NUTRITION Adjusted EBITDA, US$M Revenue, US$B $213 $2B+ MORE THAN MORE THAN ~$60 3.5X EBITDA Growth ~$1B 2X Revenue Growth 2020 2025 2020 2025 #1 Global leader in specialty crop nutrition Note: Segmen
Slide 8: Specialty food solutions
Specialty food solutions Expanding beyond food phosphates into functional ingredients Expanding from sales of ~$750M in 2025, We are to >$1.5B in 2029 well-positioned to win Significant presence in key geographies Strong and loyal Where we play Where we are customer base today going to play $1.5B $3
Slide 9: Turning strategy into results | new division structure
Turning strategy into results | new division structure New structure beginning in 2027 Strategic Rationale Key Changes Align organizational structure with Organize business around end markets: strategy through end-market-oriented agriculture, food and industrial operating model Establish dedicated N
Slide 10: Division structure | shift from minerals to end-markets
Division structure | shift from minerals to end-markets New structure beginning in 2027 Nutrition Industrial Growing Essential Solutions Products Solutions Minerals Performance and Potash and Enhanced solutions safety solutions Specialty plant phosphate fertilizers for food and for industrial nutrit
Slide 11: New division structure
New division structure Financials NUTRITION SOLUTIONS | FY’25 GROWING SOLUTIONS | FY’25 US$M US$M $2,063 $753 $213 $127 10% 17% Sales EBITDA Sales EBITDA INDUSTRIAL PRODUCTS | FY’25 ESSENTIAL MINERALS | FY’25 US$M US$M $3,046 $1,860 $358 $882 19% 29% Sales EBITDA Sales EBITDA Note: EBITDA is a non-G
Slide 12: Cost transformation program | Elevate
Cost transformation program | Elevate Reduce cost base, support margin expansion, improve cash generation, strengthen earnings power Leveraging AI to Initiated corporate-wide Realigning cost structure to accelerate innovation, drive effort to increase build a lean and agile efficiency and improve ef
Slide 13: ELEVATE | cost transformation program
ELEVATE | cost transformation program Targeting >$350M of annual EBITDA benefit by 2028 Sources of savings Estimated benefit to adjusted EBITDA US$M Increase productivity Operational efficiency across sites and processes 50% to 60% >$200 = >$350 Reduce external spend Procurement and third-party cost
Slide 14: Second Quarter 2026 Overview
Second Quarter 2026 Overview Elad Aharonson President and CEO
Slide 15: Overview | strong 2Q'26 results
Overview | strong 2Q’26 results Highlights vs. 2Q’25 • Sales up 17% $2.1B $149M $448M • Adjusted net income up 35% (1) total adjusted net adjusted • Adjusted EBITDA up 28% (1) sales income(1) EBITDA(1) • Adjusted EPS up 33% (1) • Solid growth across key financial metrics • Swiftly responded to chang
Slide 16: Industrial Products
Industrial Products Sales US$M Key developments in 2Q’26 $414 $319 • Solid improvement in both sales and EBITDA • Bromine: reached peak prices in April 2Q'25 2Q'26 • Flame retardants: strong overall sales growth for bromine- based solutions, with stable sales of phosphorous-based products EBITDA US$
Slide 17: Potash
Potash Sales US$M Key developments in 2Q’26 $383 $468 • Average potash CIF price per ton of $376 vs. $333 in 2Q’25 • Sales and EBITDA significantly up YoY 2Q'25 2Q'26 • Production of 1.1Mmt – ahead of 2Q’25, up ~100kmt • Continued to prioritize best markets, to maximize sales EBITDA based on profita
Slide 18: Phosphate Solutions
Phosphate Solutions Sales US$M Key developments in 2Q’26 $722 $637 • Sales and EBITDA increased on higher prices • Margin erosion primarily due to significantly higher sulfur prices 2Q'25 2Q'26 • Specialty food solutions: sales increased with solid new business conversions and good growth in expansi
Slide 19: Growing Solutions
Growing Solutions Sales US$M Key developments in 2Q’26 $605 $540 • Sales growth across all regions, with higher prices and volumes • Lower EBITDA, primarily due to higher raw material costs and soft market conditions in Brazil 2Q'25 2Q'26 • North America: continued challenging agriculture marketplac
Slide 20: Second Quarter 2026 Financial Results
Second Quarter 2026 Financial Results Asaf Alperovitz CFO
Slide 21: Key indicators
Key indicators Grain Price Index (GPI) Farmer sentiment Commodity prices US¢/bushel Index US$ Corn Rice Wheat Soy GPI Potash TSP Bromine 150 $2,000 $1,200 $8,000 $800 $1,000 100 $4,000 $400 $0 $0 $0 50 4Q'22 4Q'23 4Q'24 2Q'25 4Q'25 2Q'22 2Q'23 2Q'24 2Q'26 2Q'22 2Q'23 2Q'25 2Q'26 4Q'22 4Q'23 4Q'24 4Q
Slide 22: Second quarter 2026 sales bridge
Second quarter | 2026 Sales bridge SALES BY SEGMENT SALES US$M US$M $85 $65 $206 $47 $95 $85 $27 $2,135 IP $50 $2,135 $414 $1,832 $1,832 $468 Potash $722 PS $605 GS Price Volume 2Q'25 2Q'26 Exchange Phosphate 2Q'25 Industrial Potash Other 2Q'26 Other ($74) Solutions Products Growing Solutions Rate N
Slide 23: Second quarter 2026 profit bridge
Second quarter | 2026 Profit bridge ADJUSTED EBITDA BY SEGMENT ADJUSTED EBITDA US$M US$M $206 $42 $39 $2 $1 $30 $61 $6 $448 $100 $448 $130 IP $18 $7 $8 $351 $351 $154 Potash $136 PS $50 GS Price Volume 2Q'25 Other 2Q'26 Energy Transport Exchange Materials Phosphate 2Q'25 Industrial Potash Other 2Q'2
Slide 24: Financial highlights | 2Q'26
Financial highlights | 2Q’26 Shareholder Cash flow Net debt to Senior notes Cash resources return OCF of $290M adjusted EBITDA Completed successful $2.2B available 2Q’26 dividend $75M FCF increased 34% YoY 1.5x $800M offering Annual yield 4.14% Notes: Available cash resources, as of 6.30.26, and com
Slide 25: Reiterating guidance | FY'26
Reiterating guidance | FY’26 Adjusted Potash sales Annual adjusted EBITDA of volumes of tax rate of (1) $1.5B to $1.7B 4.5Mmt to ~30% 4.7Mmt Monitoring USD vs. NIS, higher raw material prices and other swiftly changing dynamics As of 8.5.26. (1) Adjusted EBITDA is a non-GAAP measure; please see appe
Slide 26: Thank you
Thank you C o n t a c t Pe g g y. Re i l l y T h a r p @ i c l - g r o u p . c o m f o r m o r e i n f o r m a t i o n o n I C L View our interactive data tool at: https://investors.icl-group.com/interactive-data-tool/default.aspx
Slide 27: Appendix
Appendix Second Quarter 2026
Slide 28: Calculation of segment EBITDA | 2Q'26
Calculation of segment EBITDA | 2Q’26 Industrial Products US$M 2Q’26 2Q’25 Phosphate Solutions(1) US$M 2Q’26 2Q’25 Segment sales $414 $319 Segment sales $722 $637 Segment operating income $115 $54 Segment operating income $80 $90 Segment operating margin 28% 17% Segment operating margin 11% 14% Depr
Slide 29: Segment results analysis | 2Q'26
Segment results analysis | 2Q’26 Segment EBITDA Industrial Phosphate Growing Segment Sales Industrial Phosphate Growing Potash Potash US$M Products Solutions(1) Solutions US$M Products Solutions(1) Solutions 2Q’25 $69 $115 $134 $56 2Q’25 $319 $383 $637 $540 Quantity $9 $11 ($5) $1 Price $57 $47 $84
Slide 30: Reconciliation tables | 2Q'26
Reconciliation tables | 2Q’26 Calculation of adjustments Adjusted EBITDA Adjusted NI and diluted EPS 2Q’26 2Q’25 2Q’26 2Q’25 US$M US$M, ex. per share Net income $152 $108 Net income, attributable $137 $93 (1) Financing expenses, net $42 $13 Adjustments $15 $20 Taxes on income $72 $60 Total tax adjus
Slide 31: New division structure
New division structure Financials US$M 2Q'26 1Q'26 FY’25 2Q'25 1Q'25 Sales Industrial Products 600 521 1,860 468 492 Essential Minerals 918 911 3,046 747 734 Nutrition Solutions 222 203 753 194 184 Growing Solutions 605 551 2,063 540 495 Other and setoffs -210 -163 -569 -117 -138 Total Sales 2,135 2
Slide 32: Guidance and non-GAAP 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 adjusted EBITDA (non-GAAP) to GAAP net income (loss), due to the inherent difficulty in forecasting, and quantifying certain amo