<SEC-DOCUMENT>0000950103-17-007652.txt : 20170807
<SEC-HEADER>0000950103-17-007652.hdr.sgml : 20170807
<ACCEPTANCE-DATETIME>20170807060020
ACCESSION NUMBER:		0000950103-17-007652
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20170807
FILED AS OF DATE:		20170807
DATE AS OF CHANGE:		20170807

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ISRAEL CHEMICALS LTD
		CENTRAL INDEX KEY:			0000941221
		STANDARD INDUSTRIAL CLASSIFICATION:	AGRICULTURE CHEMICALS [2870]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			L3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13742
		FILM NUMBER:		171009898

	BUSINESS ADDRESS:	
		STREET 1:		MILLENNIUM TOWER
		STREET 2:		23 ARANHA STREET, P.O. BOX 20245
		CITY:			TEL AVIV
		STATE:			L3
		ZIP:			61202
		BUSINESS PHONE:		(972-3) 684-4400

	MAIL ADDRESS:	
		STREET 1:		MILLENNIUM TOWER
		STREET 2:		23 ARANHA STREET, P.O. BOX 20245
		CITY:			TEL AVIV
		STATE:			L3
		ZIP:			61202
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>dp79279_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
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<P STYLE="margin: 0"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 3.5pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B>&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B>&nbsp;</P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 6-K<BR>
</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6.85pt; text-align: center; text-indent: -6.85pt"><B>REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6.85pt; text-align: center; text-indent: -6.85pt"><B>THE SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 6.85pt; text-align: center; text-indent: -6.85pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">For the month of August, 2017</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<HR SIZE="2" NOSHADE ALIGN="CENTER" STYLE="width: 21%; color: black">

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Commission File Number: 001-13742</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 22pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ISRAEL CHEMICALS LTD.</B>&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Exact name of registrant as specified
in its charter)</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Israel Chemicals Ltd.</B>&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Millennium Tower</B>&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>23 Aranha Street</B>&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>P.O. Box 20245</B>&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Tel Aviv, 61202 Israel</B>&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(972-3) 684-4400</B>&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Address of principal executive office)</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Indicate by check mark whether the registrant
files or will file annual reports under cover of Form&nbsp;20-F or Form 40-F:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 44%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 29%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 12pt">Form 20-F</FONT></TD>
    <TD STYLE="width: 14%">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid">X&nbsp;</P></TD>
    <TD STYLE="width: 15%; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 28%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 12pt">Form 40-F</FONT></TD>
    <TD STYLE="width: 14%">
&nbsp;<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 0.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page --></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Indicate by check mark if the registrant
is submitting the Form 6-K in paper as permitted by Regulation&nbsp;S-T&nbsp;Rule&nbsp;101(b)(1):</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 44%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 29%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 12pt">Yes</FONT></TD>
    <TD STYLE="width: 14%">
&nbsp;<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 0.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page --></TD>
    <TD STYLE="width: 15%; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 28%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 12pt">No</FONT></TD>
    <TD STYLE="width: 14%">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid">X&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Indicate by check mark if the registrant
is submitting the Form 6-K in paper as permitted by Regulation&nbsp;S-T&nbsp;Rule&nbsp;101(b)(7):</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 44%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 29%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 12pt">Yes</FONT></TD>
    <TD STYLE="width: 14%">

&nbsp;<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 1pt; margin-bottom: 1pt"><DIV STYLE="font-size: 1pt; border-top: Black 0.5pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page --></TD>
    <TD STYLE="width: 15%; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 28%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 12pt">No</FONT></TD>
    <TD STYLE="width: 14%">
        <P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; border-bottom: Black 0.5pt solid">X&nbsp;</P></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>ISRAEL
CHEMICALS LTD.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>INCORPORATION
BY REFERENCE</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">This report on Form 6-K shall
be deemed to be incorporated by reference into the registration statement on Form S-8 (Registration Number: 333-205518) of Israel
Chemicals Ltd. and to be a part thereof from the date on which this report is filed, to the extent not superseded by documents
or reports subsequently filed or furnished.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>ISRAEL
CHEMICALS LTD.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">1.</FONT></TD><TD><FONT STYLE="font-size: 10pt">Notice
                                         of Extraordinary General Meeting of Shareholders and Proxy Statement, dated August 7,
                                         2017</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-size: 10pt"><B>Item 1</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>ISRAEL
CHEMICALS LTD. </B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>NOTICE
OF</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>EXTRAORDINARY
GENERAL MEETING OF SHAREHOLDERS </B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Notice
is hereby given that an Extraordinary General Meeting of Shareholders (the &ldquo;<B>Meeting</B>&rdquo;) of Israel Chemicals Ltd.
(the &ldquo;<B>Company</B>&rdquo;) will be held on September 14, 2017, at 10:00 a.m. (Israel time), at the offices of the Company,
Millennium Tower, 23 Aranha Street, 22 Floor, Tel Aviv, Israel, for the following purposes:</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 65.4pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Approval
                                         of the Company's engagement in directors and officers insurance policies, as a framework
                                         transaction, for a period of three years starting September 1, 2017.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Shareholders
of record at the close of business on August 14, 2017 (the &ldquo;<B>Record Date</B>&rdquo;) are entitled to participate in, and
to vote at, the Meeting and any adjournments or postponements thereof. All shareholders are cordially invited to attend the Meeting
in person.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Shareholders
who will not attend the Meeting in person are requested to complete, date and sign the enclosed form of proxy and to return it
promptly and no later than the Cut-Off Date (as defined below) in the pre-addressed envelope provided. No postage is required
if mailed in the United States. To be valid, a proxy must be properly executed and received by the Company not less than 4 hours
prior to the time scheduled for the Meeting, unless a shorter period is determined by the chairman of the Meeting (the &ldquo;<B>Cut-Off
Date</B>&rdquo;).</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">If
a shareholder&rsquo;s shares are held through a member of the Tel Aviv Stock Exchange (&ldquo;<B>TASE</B>&rdquo;), such shareholder
should deliver or mail (via registered mail) his, her or its completed Hebrew written ballot (in the form filed by the Company
via MAGNA, the online platform of the Israel Securities Authority (&quot;<B>ISA</B>&quot;) to the offices of the Company not less
than 4 hours prior to the time scheduled for the Meeting, at the address set forth above, attention: Lisa Haimovitz, Senior Vice
President, Global General Counsel and Corporate Secretary, together with a proof of ownership (<I>ishur baalut</I>), as of the
Record Date, issued by that member of the TASE. Alternatively, shares held via a TASE member may be voted electronically via the
ISA's electronic voting system up to 6 hours before the time fixed for the Meeting. Shareholders should receive instructions about
electronic voting from the TASE member through which they hold their shares.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">If
your shares are held in a stock brokerage account or by a bank or other holder of record (other than through a member of the TASE),
you are considered the beneficial owner of shares held in &ldquo;street name.&rdquo; The street name holder of record will provide
you with instructions that you must follow in order to have your shares voted.&#9;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">By
Order of the Board of Directors,</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Lisa
Haimovitz</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Senior
Vice President, Global General Counsel and Corporate Secretary</FONT></P>
</TD></TR>
</TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 233.9pt; text-indent: -233.9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Dated:
August 7, 2017</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 233.9pt; text-indent: -233.9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 233.9pt; text-align: center; text-indent: -233.9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>ISRAEL
CHEMICALS LTD.</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 233.9pt; text-align: center; text-indent: -233.9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>PROXY
STATEMENT</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">This
Proxy Statement is furnished to the holders of Ordinary Shares, par value NIS 1.00 per share (the &ldquo;<B>Ordinary Shares</B>&rdquo;),
of Israel Chemicals Ltd. (the &ldquo;<B>Company</B>&rdquo; or &quot;<B>ICL</B>&quot;) in connection with the solicitation by the
Board of Directors of the Company (the &ldquo;<B>Board of Directors</B>&rdquo; or &ldquo;<B>Board</B>&rdquo;) of proxies for use
at the Extraordinary General Meeting of Shareholders (the &ldquo;<B>Meeting</B>&rdquo;), or at any adjournment thereof, pursuant
to the accompanying Notice of the Extraordinary General Meeting of Shareholders. The Meeting will be held on, September 14, 2017,
at 10:00 a.m. (Israel time), at the offices of the Company, Millennium Tower, 23 Aranha Street, 22 Floor, Tel Aviv, Israel.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
agenda of the Meeting will be as follows:</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 1in; text-align: justify; text-indent: -1in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 21.3pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Approval
                                         of the Company's engagement in directors and officers insurance policies, as a framework
                                         transaction, for a period of three years starting September 1, 2017.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
Company currently is not aware of any other matters that will come before the Meeting. If any other matters properly come before
the Meeting, the persons designated as proxies may vote in accordance with their judgment on such matters. As more fully described
in this Proxy Statement, shareholders may present proposals for consideration at the Meeting by submitting their proposals to
the Company no later than August 14, 2017<FONT STYLE="color: black">. </FONT></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">A
form of proxy for use at the Meeting is enclosed. Unless otherwise indicated specifically on the form of proxy, Ordinary Shares
represented by any proxy in the enclosed form will be voted in favor of all the matters to be presented at the Meeting, as recommended
by the Board. To be valid, a proxy must be properly executed and received by the Company not less than 4 hours prior to the time
scheduled for the Meeting, unless a shorter period is determined by the chairman of the Meeting (the &quot;<B>Cut-Off Date</B>&quot;).</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">If
a shareholder&rsquo;s shares are held through a member of the Tel Aviv Stock Exchange (&ldquo;<B>TASE</B>&rdquo;), such shareholder
should deliver or mail (via registered mail) his, her or its completed Hebrew written ballot (in the form filed by the Company
via MAGNA, the online platform of the Israel Securities Authority (&ldquo;<B>MAGNA</B>&rdquo; and &ldquo;<B>ISA</B>&rdquo;, respectively)
to the offices of the Company not less than 4 hours prior to the time scheduled for the Meeting, at the address set forth above,
attention: Lisa Haimovitz, Senior Vice President, Global General Counsel and Corporate Secretary, together with a proof of ownership
(<I>ishur baalut</I>), as of the Record Date, issued by that member of the TASE. Alternatively, shares held via a TASE member
may be voted electronically via the ISA's electronic voting system, up to 6 hours before the time fixed for the Meeting. Shareholders
should receive instructions about electronic voting from the TASE member through which they hold their shares.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Shareholders
may revoke the authority granted by their execution of proxies by delivering to the Company a written notice of revocation or
duly executed proxy bearing a later date, provided such revocation notice or later-dated proxy is received by the Company at least
48 hours before the Meeting, or by voting in person at the Meeting. On the matter considered at the Meeting, abstentions will
be treated as neither a vote &ldquo;for&rdquo; nor &ldquo;against&rdquo; the matter, although they will be counted in determining
whether a quorum is present.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Proxies
for use at the Meeting are being solicited by the Board of Directors of the Company. Only shareholders of record at the close
of business on August, 14, 2017 (the &ldquo;<B>Record Date</B>&rdquo;) will be entitled to vote at the Meeting. Proxies are being
mailed to shareholders on or about August 15, 2017 and will be solicited mainly by mail. However, certain officers, directors,
employees and agents of the Company, none of whom will receive additional compensation therefor, may solicit proxies by</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-indent: 0pt"></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-indent: 0pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">telephone,
e-mail or other personal contact. The Company will bear the cost for the solicitation of the proxies, including postage, printing
and handling, and will reimburse the reasonable expenses of brokerage firms and others for forwarding material to beneficial owners
of Ordinary Shares.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">On
August 6, 2017, 1,278,327,508 Ordinary Shares were outstanding. Subject to the voting restrictions described below, each Ordinary
Share is entitled to one vote upon each of the matters to be presented at the Meeting. Two or more shareholders holding in the
aggregate more than 50% of the outstanding voting power in the Company, present in person or by proxy and entitled to vote, will
constitute a quorum at the Meeting. If within half an hour from the time scheduled for the Meeting, a quorum is not present, the
Meeting shall be adjourned to the same day in the next week, at the same time and place. If a quorum is not present within half
an hour from the time scheduled for the adjourned meeting, then two shareholders with voting rights, who collectively hold at
least one-third of the Company&rsquo;s issued share capital, who are present, in person or by proxy, shall be a quorum and be
permitted to discuss and decide on the issues for which the Meeting was convened.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Joint
holders of Ordinary Shares should take note that, pursuant to Article 75 of the Articles of Association of the Company, the vote
of the most senior of such joint holders who tenders a vote, in person or by proxy, will be accepted to the exclusion of the vote(s)
of the other joint holder(s). For this purpose, seniority will be determined by the order in which the names stand in the Company&rsquo;s
Shareholders Register.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="margin: 0pt 0; font: 11pt Times New Roman, Times, Serif; text-align: center; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>PRINCIPAL
ORDINARY SHAREHOLDERS&nbsp;</B></FONT></P>

<P STYLE="margin: 0pt 0; font: 11pt Times New Roman, Times, Serif; text-align: center; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font: 11pt Times New Roman, Times, Serif; text-align: justify; background-color: white; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
following table presents as of August 6, 2017 (unless otherwise noted below) the beneficial ownership of our Ordinary Shares by
each person who is known by us to be the beneficial owner of 5% or more of our outstanding Ordinary Shares. The data presented
is based on information provided to us by the holders or disclosed in public regulatory filings.</FONT></P>

<P STYLE="margin: 0pt 0; font: 11pt Times New Roman, Times, Serif; text-align: justify; background-color: white; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin: 0pt 0; font: 11pt Times New Roman, Times, Serif; text-align: justify; background-color: white; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">&nbsp;</FONT></TD>
    <TD COLSPAN="3" STYLE="border-bottom: #0A2972 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><B>Ordinary
    Shares</B><BR>
    <B>Beneficially Owned<SUP>(1)</SUP></B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="width: 54%"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><B>Shareholder
    </B></FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 15%; border-bottom: #0A2972 1pt solid; padding-left: 0.45pt; text-align: center; text-indent: 6.75pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><B>Number</B></FONT></TD>
    <TD STYLE="width: 11%; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 14%; border-bottom: #0A2972 1pt solid; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><B>Percentage</B></FONT></TD></TR>
</TABLE>


<P STYLE="margin: 0pt 0; font: 11pt Times New Roman, Times, Serif; text-align: justify; background-color: white; text-indent: 0.5in"></P>

<P STYLE="margin: 0pt 0; font: 11pt Times New Roman, Times, Serif; text-align: justify; background-color: white; text-indent: 0.5in"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="width: 53%; padding-left: 9pt; color: gray; text-indent: -9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Israel
    Corporation&nbsp;Ltd.<SUP>(2)</SUP></FONT></TD>
    <TD STYLE="color: gray"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 0%; color: gray"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 0%; color: gray"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 17%"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">587,178,761</FONT></P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P></TD>
    <TD STYLE="width: 9%; color: gray"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black"><SUP>&nbsp;</SUP></FONT></TD>
    <TD STYLE="width: 0%; color: gray"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="width: 13%; color: gray; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">45.93</FONT></TD>
    <TD STYLE="color: gray"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">% </FONT></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="padding-left: 9pt; color: gray; text-indent: -9pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">Potash
    Corporation of Saskatchewan Inc.<SUP>(3)</SUP></FONT></TD>
    <TD STYLE="color: gray"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: gray"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: gray"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: gray; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">176,088,630</FONT></TD>
    <TD><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: gray"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">&nbsp;</FONT></TD>
    <TD STYLE="color: gray; text-align: right"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">13.77</FONT></TD>
    <TD STYLE="color: gray"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: Black">%</FONT></TD></TR>
</TABLE>


<P STYLE="margin: 0pt 0; font: 11pt Times New Roman, Times, Serif; text-align: justify; background-color: white; text-indent: 0.5in"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="margin: 0pt 0; font: 11pt Times New Roman, Times, Serif; text-align: justify; background-color: white; text-indent: 0.5in"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

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<P STYLE="margin: 0pt 0; font: 11pt Times New Roman, Times, Serif; text-align: justify; background-color: white; text-indent: 0.5in"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="margin: 0pt 0; font: 11pt Times New Roman, Times, Serif; text-align: justify; background-color: white; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
                                         percentages shown are based on 1,278,327,508 Ordinary Shares issued and outstanding as
                                         of August 6, 2017 (after excluding shares held by us or our subsidiaries).</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif">&nbsp;</P>



<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"></FONT></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">Our
                                         controlling shareholder is Israel Corporation Ltd. (&ldquo;Israel Corp.&rdquo;), a public
                                         company listed on the TASE. Based on the information we received from Israel Corp., Millennium
                                         Investments Elad Ltd. (&ldquo;Millennium&rdquo;) and Mr. Idan Ofer are considered as
                                         controlling shareholders jointly of Israel Corp. for purposes of the Israeli Securities
                                         Law (each of Millennium and Mr. Ofer hold shares in Israel Corp. directly, and Mr. Ofer
                                         serves as a director of Millennium and has an indirect interest in it as the beneficiary
                                         of a foreign discretionary trust that has indirect control of Millennium as detailed
                                         below). A discretionary trust in which Mr. Idan Ofer is the beneficiary, indirectly holds
                                         80% of the economic interest in Millennium, which holds approx. 46.9% of the issued and
                                         outstanding shares of Israel Corp. The foregoing discretionary trust, also indirectly
                                         holds an additional approx. 0.74% of the issued and outstanding shares of Israel Corp.
                                         A second discretionary trust in which Mr. Ofer is a prime beneficiary, controls 50% of
                                         the ordinary share capital of XT Holdings Ltd. (&ldquo;XT Holdings&rdquo;), which indirectly
                                         holds (i) 20% of the economic interest in Millennium, and (ii) approx. 1.92% of the issued
                                         and outstanding shares of Israel Corp. Mr. Ofer also owns directly approx. 3.85% of the
                                         issued and outstanding shares of Israel Corp. Furthermore, XT Holdings indirectly holds
                                         approx. 0.03% of our share capital (namely, 377,662 Ordinary Shares). Each of the foregoing
                                         persons disclaims beneficial ownership of any securities of ICL held by Israel Corp.,
                                         except to the extent of its pecuniary interest therein, if any, excludes 26,488,268 Ordinary
                                         Shares currently subject to certain forward sales agreements. Israel Corp. does not currently
                                         have voting rights or dispositive power with respect to the Ordinary Shares subject to
                                         the forward sales agreements, which shares have been made available for the forward counterparties.
                                         Under such agreements, Israel Corp. will not regain voting rights and dispositive power
                                         with respect to all or a portion of such Ordinary Shares (&quot;physical settlement&quot;)
                                         unless it informs the forward counter parties otherwise at the relevant settlement dates
                                         specified in such agreements. As of the date hereof, settlement under such forward sales
                                         agreements has begun and is expected to continue to be executed in components, on a number
                                         of settlement dates over a period of approx. 2.17 years. Even though Israel Corp. has
                                         less than 50% of our Ordinary Shares, it still has a major impact on the Meeting and
                                         will de facto have the power to appoint directors and have a strong influence upon the
                                         composition of our Board of Directors.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.55pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(3)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Potash
                                         Corporation of Saskatchewan&nbsp;Inc., is a Canadian corporation whose shares are listed
                                         for trading on the Toronto Stock Exchange and the NYSE. </FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"></FONT></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Executive
Compensation </B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">For
information regarding compensation paid to our five highest compensated officers in 2016, please see &ldquo;Item 6. Directors,
Senior Management and Employees &ndash; B. Compensation&rdquo; in our 2016 Annual Report on Form 20-F </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(the
<FONT STYLE="color: black">&ldquo;</FONT><B>2016 20-F</B><FONT STYLE="color: black">&rdquo;</FONT>) <FONT STYLE="color: black">and
filed with the U.S. Securities and Exchange Commission (&ldquo;<B>SEC</B>&rdquo;) on March 16, 2017.</FONT></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>PROPOSAL</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>Item
1 &ndash; Approval of the Company's engagement in directors and officers insurance policies, as a framework transaction, for a
period of three years starting September 1, 2017, in accordance with the terms detailed below.</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
May 2014, the Company's shareholders approved, as a &quot;framework transaction&quot;, as defined in Regulation 1(3) of the Companies
Regulations (Easements in Transactions with Interested Parties) &ndash; 2000 (the &quot;<B>Companies Regulations (Easements)</B>&quot;),
the engagement of the Company in directors and officers insurance policies that cover the liability of the directors and officers
for two tier coverage, for a period of up to three years from the date of listing the Company's shares on the NYSE (September
23, 2014) (the &quot;<B>Joint Framework</B>&quot;). For more information about the Joint Framework, please see the immediate report
that was released by the company at April 1, 2014 (Reference number 2014-01-035505).</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
accordance with the aforementioned Joint Framework, and in accordance with the Company's Compensation Policy, the Company renewed
the insurance policy from time to time (see the Company's immediate reports from October 21, 2014, October 14, 2015 and August
31, 2016 (reference numbers 2014-01-178734, 2015-02 -134487, 2016-02-115600, respectively)).</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
current directors and officers insurance policy includes a liability limit of $220 million for both tiers; the limit is per event
and in the aggregate. Out of the $220 million, $20 million are a joint primary tier with Israel Corp. and the allocation of the
premium for the joint tier between the companies is the ratio of 70% to ICL and 30% to Israel Corp. The rest of the liability
limit ($200 million) is a separate limit for ICL only. The current insurance policy is valid until August 31, 2017.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">It
is hereby proposed to approve the Company's engagement in directors and officers insurance policies, during a period of up to
three years, starting September 1, 2017, in accordance with the terms detailed below:</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
insurance policies will include a two tier insurance coverage of directors and officers liability, as follows (the &quot;<B>Framework
Transaction</B>&quot;):</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(i)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><U>The
                                         joint tier</U> - The insurance policy will insure the liability of the directors and
                                         officers of the ICL Group, who are serving at the ICL Group and who will serve at the
                                         ICL Group from time to time (including directors and officers who are considered to be
                                         controlling shareholders or that the controlling shareholders of the Company may be considered
                                         to have a personal interest in the inclusion of officers in the insurance policies),
                                         as well as their liability in their tenure, at the request of the Company or on its behalf,
                                         in companies held by it, directly or indirectly, in which they were appointed or will
                                         be appointed by ICL Group or on its behalf, as well as the liability of the directors
                                         and officers of Israel Corp., who are serving at the Israel Corp. and who will serve
                                         at the Israel Corp. from time to time, as well as their liability in their tenure, at
                                         the request of the Israel Corp. or on its behalf, in companies held by it, directly or
                                         indirectly, in which they were appointed or will be appointed by Israel Corp. Group or
                                         on its behalf (excluding ICL Group) (together: &quot;<B>Israel Corporation Group</B>&quot;),
                                         all as will be from time to time. The insurance coverage at the joint tier will be at
                                         a liability limit of up to 20 million USD per event and per period.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"></FONT></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">(ii)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><U>The
                                                                                                                                                separate tier</U> - The insurance policy will insure the liability of the directors and
                                                                                                                                                officers of the ICL Group, who are serving at the ICL Group and who will serve at the
                                                                                                                                                ICL Group from time to time (including directors and officers who are considered to be
                                                                                                                                                controlling shareholders or that the controlling shareholders of the Company may be considered
                                                                                                                                                to have a personal interest in the inclusion of officers in the insurance policies),
                                                                                                                                                as well as their liability in their tenure, at the request of the Company or on its behalf,
                                                                                                                                                in companies held by it, directly or indirectly, in which they were appointed or will
                                                                                                                                                be appointed by ICL Group or on its behalf, under the terms of the <FONT STYLE="color: black">customary
                                                                                                                                                </FONT>cover for this type of insurance. The insurance coverage in the separate tier
                                                                                                                                                will have a liability limit of up to 350 million USD per event and per period. (In alliance with the insurance coverage limit
                                                                                                                                                in the Company&rsquo;s Compensation Policy).</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
directors and officers of the ICL Group will be beneficiaries in both aforementioned tiers.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
deductible amounts to be determined in the insurance policies, for the joint tier and the separate tier, shall not exceed the
<FONT STYLE="color: black">customary</FONT> rate in the insurance market for transactions of this type and this volume, as of
the date of the engagement.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
division of liability in payment of the insurance premium between the Company and the Israel Corporation Group in the joint tier
will be as follows: The Company - 70%; Israel Corporation Group - 30%. The Compensation Committee and the Board of Directors will
have the authority to approve changes from time to time in connection with the rate of the premium distribution between the ICL
Group and the Israel Corporation Group in respect of the joint tier, as recommended by the insurers and/or brokers, provided that
the new rate of the premium distribution will not exceed 25% over the entire transaction period. Deviation from these limits shall
require the Shareholders&rsquo; approval.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
cost of the annual premium shall not exceed a cap of 1,250,000 USD for both tiers and the annual premium to be paid by the Company
for the insurance year shall not exceed the aforementioned premium amount by more than 25% each year. Deviation from these limits
shall require the Shareholders&rsquo; approval.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Similar
to the approval of the aforesaid at the Shareholders Meeting held in 2014, the decision to approve the Company's engagement in
insurance policies, as stated, including the decision regarding the division of the liability for payment of the insurance premium
between the Company and the Israel Corp., will constitute as a &quot;framework transaction&quot;, as defined in Regulation 1(3)
of the Companies Regulations (Easements), which enables the Company, within 3 years from September 1, 2017, to engage in directors
and officers insurance policies, whether by purchasing new insurance policies or extensions or renewals of existing insurance
policies in the future every year (or at other times upon which it will be decided In accordance with the needs of the Company)
from any insurance company in Israel and/or abroad. The purchase of the directors and officers insurance policies, as aforesaid,
is conditioned upon the approval of the Compensation Committee and the Board of Directors of the Company, as needed, that the
terms for the purchase of the policies comply with the terms of the Framework Transaction, with the Compensation Committee and
the Board of Directors having the authority to change, from time to time, the amount of coverage, premium amounts and premium
distribution rate between the ICL Group and the Israel Corporation Group, subject to the conditions detailed above and subject
to the Company's Compensation Policy, as it will be from time to time.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"></FONT></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">The
Compensation Committee and the Board of Directors of the Company approved the Company's engagement in insurance policies,</FONT>
<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">as a framework transaction, for a period of three years
starting September 1, 2017, <FONT STYLE="color: black">as described in Item 1 of the Proxy Statement, based on the following considerations:</FONT></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">1.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Providing
                                         insurance coverage for directors and officers in the Company&nbsp;is for the best interest
                                         of the Company, since it enables directors and officers in the Company to perform their
                                         duties properly and for the best interest of the Company, taking into account the risks
                                         involved in the Company's activity and the personal responsibility imposed by law on
                                         officers and directors of the Company, in particular due to their activities as directors
                                         and officers in the Company;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">2.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Engagement
                                         in a liability insurance for directors and officers is customary among public companies
                                         in Israel;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">3.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">The
                                         terms of the </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Framework
                                         Transaction<FONT STYLE="color: black">, as described in Item 1 of the Proxy Statement,
                                         including the scope of the insurance coverage and the premium amount, were determined
                                         according to the Company's assessment, after consulting with its insurance advisors and
                                         based on the insurers assessment, in accordance with the existing risks, taking into
                                         consideration that the Company's shares are listed for trading on the Tel-Aviv Stock
                                         Exchange and on a&nbsp;the New York Stock Exchange (&quot;<B>NYSE</B>&quot;), in accordance
                                         with the Company's Compensation Policy and taking into consideration the Company's needs
                                         and operations, and noting that the insurance market is characterized by volatility and
                                         operates as a State of market demand and supply;</FONT></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">4.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
                                         purchase of an insurance together with the Israel Corp., the controlling shareholder
                                         of the Company, is intended to enable the efficient and proper utilization of the Group's
                                         size and reduces the costs of the insurance premium. The joint insurance tier between
                                         the ICL Group and the Israel Corporation Group is designed to ensure that a claim filed
                                         against those two companies together will be handled by the insurance companies uniformly
                                         and coordinated. The distribution rate maximum liability in respect of the premium between
                                         the ICL Group and the Israel Corporation Group relative to the joint tier is determined
                                         based on the assessment of the Company's insurers;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">5.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
                                         terms of the insurance policies are reasonable considering the nature of the Company
                                         and the scope of its activity, as well as the existing insurance risks, taking into consideration
                                         that the Company's shares are listed for trading on the Tel-Aviv Stock Exchange and on
                                         the NYSE, and are identical to all of the directors and officers in the Company. In addition,
                                         the terms of the insurance policies are within the limits prescribed in the Compensation
                                         Policy; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 17.45pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">6.</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">The
                                         Audit Committee and the Board of Directors determined that the acquisition of insurance
                                         policies is in alignment with the terms of the </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Framework
                                         Transaction <FONT STYLE="color: black">detailed above for the Company's directors and
                                         officers liability, does not constitute as a &quot;distribution&quot;, as defined in
                                         the Companies Law, and there is no concern that the engagement will prevent the ability
                                         of the Company to fulfil its existing and expected obligations, when their due date will
                                         arrive.</FONT></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"></FONT></P>

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<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">In
light of all the foregoing, the members of the compensation Committee and the Board of Directors of the Company stated that the
proposed engagement of the Company in the insurance policies</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">,
as a framework transaction, for a period of three years starting September 1, 2017<FONT STYLE="color: black">, is reasonable and
is in the best interest of the company.</FONT></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><U>Required
Approval</U></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Pursuant
to the Israeli Companies Law, the approval of this resolution requires the affirmative vote of a majority of the Ordinary Shares
present, in person or by proxy, and voting on the matter, provided that either: (i) at least a majority of the shares of shareholders
who do not have a personal interest in the resolution are voted in favor thereof; abstentions shall not be included in the total
of the votes of the aforesaid shareholders; or (ii) the total number of shares of shareholders who do not have a personal interest
in the resolution who voted against it does not exceed 2% of the outstanding voting rights in the Company.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">The
Israeli Companies Law requires that each shareholder voting on this proposal specifically indicate whether or not the shareholder
has such a personal interest. Otherwise, the shareholder is not eligible to vote on this proposal. According to the Israeli Companies
Law, a &ldquo;personal interest&rdquo; of a shareholder (i) includes a personal interest of the shareholder and any members of
the shareholder&rsquo;s family, family members of the shareholder&rsquo;s spouse, or a spouse of any of the foregoing, or a personal
interest of a company with respect to which the shareholder (or such family member) serves as a director or the CEO, owns at least
5% of the shares or holds 5% of the voting rights or has the right to appoint a director or the CEO, (ii) includes a personal
interest of anyone voting by proxy or granting a proxy with respect to the proposal and (iii) excludes an interest arising solely
from the ownership of our Ordinary Shares.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>A
shareholder shall notify the Company prior to the Meeting, whether the shareholder constitutes a controlling shareholder in the
Company or has a personal interest in the proposal or not, as a condition for that shareholder's right to vote and be counted.
Shareholders who will not attend the Meeting in person should follow the instructions on the form of proxy card or form of written
ballot or ISA's electronic voting system form, as applicable, to indicate whether or not they have a personal interest in this
matter.</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Our
controlling shareholders may have a personal interest in the approval of the <FONT STYLE="color: black">insurance policies</FONT>,
in light of its being a party to the new insurance policies that the Company will engage in under the terms of the Framework Transaction
and also because certain directors of the Company and its subsidiaries also serve as officers in the controlling shareholder and
are beneficiaries of the aforementioned new insurance policies. Accordingly, pursuant to the Israeli Companies Law, the approval
of the <FONT STYLE="color: black">insurance policies </FONT>with the controlling shareholders for a period of three years, requires
the affirmative vote of a majority of the Ordinary Shares present, in person or by proxy, and voting on the matter, provided that
either: (i) at least a majority of the shares of shareholders who do not have a personal interest in the resolution are voted
in favor thereof; abstentions shall not be included in the total of the votes of the aforesaid shareholders; or (ii) the total
number of shares of shareholders who do not have a personal interest in the resolution who voted against it does not exceed 2%
of the outstanding voting rights in the Company.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
addition, officers of the Company who are also shareholders therein may have a personal interest in the approval of the <FONT STYLE="color: black">insurance
policies </FONT>in light of their being beneficiaries of the insurance coverage.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"></FONT></P>

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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><U>Proposed
Resolution</U></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">It
is proposed that at the Meeting the following resolution be adopted:</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; color: black">&ldquo;<B>RESOLVED</B>,
that the </FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">the Company's engagement in directors
and officer&rsquo;s insurance policies, as a framework transaction, for a period of three years starting September 1, 2017, <FONT STYLE="color: black">all
as described in Item 1 of the Proxy Statement, be, and the same hereby are, approved.&rdquo;</FONT></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>The
Board of Directors recommends a vote FOR approval of the proposed resolution.</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>SHAREHOLDER
PROPOSALS</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: justify; text-indent: 42.55pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-weight: normal; text-transform: none">Any
shareholder of the Company who intends to present a proposal at the Meeting must satisfy the requirements of the Israeli Companies
Law. Under the Israeli Companies Law, shareholders who severally or jointly hold at least 1% of the Company&rsquo;s outstanding
voting rights are entitled to request that the Board of Directors include a proposal in a shareholders meeting, provided that
such proposal is appropriate for consideration by shareholders at such meeting. Such shareholders may present proposals for consideration
at the Meeting by submitting their proposals in writing to our Corporate Secretary at the following address: Millennium Tower,
23 Aranha Street, P.O.&nbsp;Box&nbsp;20245, Tel Aviv, 61202 Israel, Attn.: Corporate Secretary. For a shareholder proposal to
be considered for inclusion in the Meeting, our Corporate Secretary must receive the written proposal no later than August 14,
2017. </FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-transform: uppercase; text-align: justify; text-indent: 42.55pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>POSITION
STATEMENTS</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0in"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">In
accordance with the Israeli Companies Law and regulations promulgated thereunder, any shareholder of the Company may submit to
the Company a position statement on its behalf, expressing its position on item 1 on the agenda of the Meeting to Millennium Tower,
23 Aranha Street, P.O.&nbsp;Box&nbsp;20245, Tel Aviv, 61202 Israel, attn.: Corporate Secretary, no later than September, 4, 2017.
Any position statement received will be filed by the Company on a Current Report on Form 6-K to the SEC and the ISA.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 35.45pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"><B>UPDATES</B></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-transform: uppercase; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt; font-weight: normal; text-transform: none">If
we determine that an update is required for an item on the agenda, we will publish such update by way of issuing a press release
and filing a Current Report on Form 6-K to the SEC and the ISA.</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-transform: uppercase; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-transform: uppercase; text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Arial, Helvetica, Sans-Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 50%"><P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">By
Order of the Board of Directors,</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Lisa
Haimovitz</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><I>Senior
Vice President, Global General Counsel</I></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0pt; text-indent: 0pt"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif"><I>and
Corporate Secretary</I></FONT></P>
</TD></TR>
</TABLE>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-transform: uppercase; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT>&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">Dated:
August 7, 2017</FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt">&nbsp;</FONT></P>



<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt"><B>SIGNATURE</B></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned, thereunto duly authorized.</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt"><B>Israel Chemicals Ltd.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Kobi Altman</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 7%"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="width: 39%"><FONT STYLE="font-size: 10pt">Kobi Altman</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Chief Financial Officer</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
</TABLE>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt"><B>Israel Chemicals Ltd.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid"><FONT STYLE="font-size: 10pt">/s/ Lisa Haimovitz</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 7%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 5%"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 7%"><FONT STYLE="font-size: 10pt">Name:</FONT></TD>
    <TD STYLE="width: 39%"><FONT STYLE="font-size: 10pt">Lisa Haimovitz</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Title:</FONT></TD>
    <TD><FONT STYLE="font-size: 10pt">Senior Vice President, Global General Counsel and Corporate Secretary</FONT></TD></TR>
</TABLE>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">Date:
August 7, 2017</FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></P>



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