<SEC-DOCUMENT>0001178913-24-004011.txt : 20250130
<SEC-HEADER>0001178913-24-004011.hdr.sgml : 20250130
<ACCEPTANCE-DATETIME>20241219074830
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001178913-24-004011
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20241219

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ICL Group Ltd.
		CENTRAL INDEX KEY:			0000941221
		STANDARD INDUSTRIAL CLASSIFICATION:	AGRICULTURE CHEMICALS [2870]
		ORGANIZATION NAME:           	08 Industrial Applications and Services
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			L3
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	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

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ISRAEL CHEMICALS LTD
		DATE OF NAME CHANGE:	19950314
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
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              <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 10.5pt;">December 19, 2024</div>
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            <td style="width: 100%; vertical-align: top;" colspan="2" rowspan="1">&#160;</td>
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              <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 10.5pt;">Re:</div>
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            <td style="width: 96.06%; vertical-align: top;">
              <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 10.5pt;">ICL Group Ltd.<br>
                Correspondence filed December 11, 2024, File No. 1-13742</div>
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      <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 10.5pt;">United States Securities and Exchange Commission<br>
        Division of Corporation Finance<br>
        Office of Industrial Applications and Services<br>
        100 F Street, N.E.<br>
        Washington, D.C. 20549</div>
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            <td style="width: 3.94%; vertical-align: top;"><font style="font-family: Arial,sans-serif; font-size: 10.5pt;">Attn:</font></td>
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              <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 10.5pt;">Mr. John Coleman</div>
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            <td style="width: 3.94%; vertical-align: top;" rowspan="1"><br>
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              <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 10.5pt;">Mr. Craig Arakawa</div>
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      <div style="line-height: 1.25;">&#160;</div>
      <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 10.5pt;">Dear Mr. Coleman and Mr. Arakawa:</div>
      <div style="line-height: 1.25;">&#160;</div>
      <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 10.5pt;">This letter sets forth the response of ICL Group Ltd. (the &#8220;<font style="font-weight: bold;">Company</font>&#8221;)
        to the comment letter of the Staff (the &#8220;<font style="font-weight: bold;">Staff</font>&#8221;) of the Securities and Exchange Commission, dated December 16, 2024, relating to the Company&#8217;s Annual Report
        on Form 20-F for the fiscal year ended December 31, 2023, filed on March 14, 2024 (the &#8220;<font style="font-weight: bold;">2023 Form 20-F</font>&#8221;).</div>
      <div style="line-height: 1.25;">&#160;</div>
      <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 10.5pt;">For your convenience, we have reproduced the Staff&#8217;s comment preceding our response below. Please let me know if you have any questions or if we can
        provide additional information or otherwise be of assistance in expediting the review process.</div>
      <div style="line-height: 1.25;">&#160;</div>
      <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 10.5pt; font-weight: bold;"><u>Form 20-F for the Fiscal year Ended December 31, 2021</u></div>
      <div style="line-height: 1.25;">&#160;</div>
      <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 10.5pt; font-weight: bold;"><u>D. Property, Plant and Equipment, page 136</u></div>
      <div style="line-height: 1.25;">&#160;</div>
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            <td style="width: 32.7pt; vertical-align: top; font-family: Arial,sans-serif; font-size: 10.5pt;">1.</td>
            <td style="width: auto; vertical-align: top;">
              <div style="font-family: Arial, sans-serif; font-size: 10.5pt;"><font style="font-family: Arial,sans-serif; font-style: italic;">We note your response to comment 2. We understand from your response that you consolidate the
                  YPH results in your financial results, however the provisions under Item 1303(b)(3)(iii) of Regulation S-K require resource and reserve disclosure to be presented on an attributable basis. Please confirm that you will present the YPH
                  resource and reserve disclosure on an attributable basis. In the alternative we would not object to the inclusion of an addition column(s) in your resource and reserve tables that quantifies the amount of contained P</font><sub style="font-style: italic; vertical-align: bottom; line-height: 1; font-size: smaller;">2</sub><font style="font-family: Arial,sans-serif; font-style: italic;">O</font><sub style="font-style: italic; vertical-align: bottom; line-height: 1; font-size: smaller;">5</sub><font style="font-family: Arial,sans-serif; font-style: italic;"> tonnage associated with your attributable interest, in addition to the quantity that is based on a 100% interest.</font></div>
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      <div style="line-height: 1.25; font-family: Arial, sans-serif; font-size: 10.5pt;"><font style="font-family: Arial,sans-serif; font-weight: bold;"><u>Response</u></font>:</div>
      <div style="line-height: 1.25;">&#160;</div>
      <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 10.5pt;">The Company acknowledges the Staff&#8217;s comment and confirms that in subsequent filings, we will include additional column(s) in our resource and reserve
        tables that quantifies the amount of contained P<sub style="vertical-align: bottom; line-height: 1; font-size: smaller;">2</sub>O<sub style="vertical-align: bottom; line-height: 1; font-size: smaller;">5</sub> tonnage associated with our attributable interest in YPH.</div>
      <div style="line-height: 1.25;">&#160;</div>
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      <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 10.5pt;">As an example, the Company is providing a template below of the revised tables for the resources and reserves of YPH.</div>
      <div style="line-height: 1.25;">&#160;</div>
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            <td style="width: 24.98%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt; font-weight: bold;">Amount</div>
              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt; font-weight: bold;">(Mt)</div>
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              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt; font-weight: bold;">Average</div>
              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt; font-weight: bold;">Grade (P<sub style="vertical-align: bottom; line-height: 1; font-size: smaller;">2</sub>O<sub style="vertical-align: bottom; line-height: 1; font-size: smaller;">5</sub>)</div>
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              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt; font-weight: bold;">Contained</div>
              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt; font-weight: bold;">P<sub style="vertical-align: bottom; line-height: 1; font-size: smaller;">2</sub>O<sub style="vertical-align: bottom; line-height: 1; font-size: smaller;">5 </sub>(Mt)</div>
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            <td style="width: 15.62%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt; font-weight: bold;">Contained P<sub style="vertical-align: bottom; line-height: 1; font-size: smaller;">2</sub>O<sub style="vertical-align: bottom; line-height: 1; font-size: smaller;">5 </sub>Attributable</div>
              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt; font-weight: bold;">to ICL (Mt)</div>
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              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt; font-weight: bold;">Cut-off</div>
              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt; font-weight: bold;">Grades</div>
              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt; font-weight: bold;">(P<sub style="vertical-align: bottom; line-height: 1; font-size: smaller;">2</sub>O<sub style="vertical-align: bottom; line-height: 1; font-size: smaller;">5</sub>)</div>
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              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt; font-weight: bold;">Metallurgical</div>
              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt; font-weight: bold;">Recovery</div>
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              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">Measured mineral resources</div>
            </td>
            <td style="width: 12.49%; vertical-align: top;">
              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">&#160;3.0</div>
            </td>
            <td style="width: 12.5%; vertical-align: top;">
              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">22.3%</div>
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              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">0.67</div>
            </td>
            <td style="width: 15.62%; vertical-align: top;">
              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">0.33</div>
            </td>
            <td style="width: 9.39%; vertical-align: top;">
              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">15%</div>
            </td>
            <td style="width: 12.53%; vertical-align: top;">
              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">89.3%</div>
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            <td style="width: 24.98%; vertical-align: top;">
              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">Indicated mineral resources</div>
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            <td style="width: 12.49%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25;">
                <div style="line-height: 1.25; color: rgb(0, 0, 0); font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">&#160;2.3</div>
              </div>
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            <td style="width: 12.5%; vertical-align: top;">
              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">24.0%</div>
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              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">0.55</div>
            </td>
            <td style="width: 15.62%; vertical-align: top;">
              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">0.28</div>
            </td>
            <td style="width: 9.39%; vertical-align: top;">&#160;</td>
            <td style="width: 12.53%; vertical-align: top;">&#160;</td>
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              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt; font-weight: bold;">Measured + Indicated</div>
              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt; font-weight: bold;">mineral resources</div>
            </td>
            <td style="width: 12.49%; vertical-align: top; border-bottom: 4px double rgb(0, 0, 0);">
              <div style="line-height: 1.25;">
                <div style="line-height: 1.25;"><font style="line-height: 1.25;">&#160;</font></div>
                <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt; font-weight: bold;">5.3</div>
              </div>
            </td>
            <td style="width: 12.5%; vertical-align: top;">
              <div style="line-height: 1.25;"><font style="line-height: 1.25;">&#160;</font></div>
              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">23.0%</div>
            </td>
            <td style="width: 12.49%; vertical-align: top;">
              <div style="line-height: 1.25;"><font style="line-height: 1.25;">&#160;</font></div>
              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">1.22</div>
            </td>
            <td style="width: 15.62%; vertical-align: top;">
              <div style="line-height: 1.25;"><font style="line-height: 1.25;">&#160;</font></div>
              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">0.61</div>
            </td>
            <td style="width: 9.39%; vertical-align: top;">&#160;</td>
            <td style="width: 12.53%; vertical-align: top;">&#160;</td>
          </tr>
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            <td style="width: 24.98%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">Inferred mineral resources</div>
            </td>
            <td style="width: 12.49%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">&#160;0.2</div>
            </td>
            <td style="width: 12.5%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">20.0%</div>
            </td>
            <td style="width: 12.49%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">0.04</div>
            </td>
            <td style="width: 15.62%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">0.02</div>
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            <td style="width: 9.39%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 12.53%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
          </tr>

      </table>
      <div style="line-height: 1.25;">&#160;</div>
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            <td style="width: 32pt; vertical-align: top; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">(1)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">Mineral Resources are reported in-situ and are exclusive of Mineral Reserves.</div>
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      <div style="line-height: 1.25;">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="zdc5eca1eaccd4811aff113ca2e2b61d4" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 32pt; vertical-align: top; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">(2)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">All figures are rounded to reflect the relative accuracy of the estimate, and numbers may not sum due to rounding.</div>
            </td>
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      </table>
      <div style="line-height: 1.25;">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="z00102ffa9f934862a115805814d39115" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 32pt; vertical-align: top; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">(3)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">Mineral Resources for Haikou are classified in accordance with the Pan European Reserves and Resources Reporting Committee (PERC) Standard for Reporting of
                Exploration Results (2021).</div>
            </td>
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      </table>
      <div style="line-height: 1.25;">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="zd36a243fc4f948b1a965bc79ebf55dcf" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 32pt; vertical-align: top; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">(4)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">YPH is a consolidated subsidiary of the Company. The reported tonnages and grades are on a 100% basis. The contained P2O5 attributable to ICL reflects the
                Company&#8217;s 50% interest. While YPH is consolidated into our financial statements, YYTH owns a 50% minority interest in YPH.</div>
            </td>
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      </table>
      <div style="line-height: 1.25;"><br style="line-height: 1.25;">
      </div>
      <table cellspacing="4" cellpadding="0" border="0" id="zca5dd75c3ece47bb813fb11d9c02b627" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 23.43%; vertical-align: middle; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 10.92%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt; font-weight: bold;">Amount</div>
              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt; font-weight: bold;">(Mt)</div>
            </td>
            <td style="width: 12.52%; vertical-align: middle; border-bottom: #000000 2px solid;">
              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt; font-weight: bold;">Average</div>
              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt; font-weight: bold;">Grade (P<sub style="vertical-align: bottom; line-height: 1; font-size: smaller;">2</sub>O<sub style="vertical-align: bottom; line-height: 1; font-size: smaller;">5</sub>)</div>
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              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt; font-weight: bold;">Contained</div>
              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt; font-weight: bold;">P<sub style="vertical-align: bottom; line-height: 1; font-size: smaller;">2</sub>O<sub style="vertical-align: bottom; line-height: 1; font-size: smaller;">5 </sub>(Mt)</div>
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              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt; font-weight: bold;">Contained P<sub style="vertical-align: bottom; line-height: 1; font-size: smaller;">2</sub>O<sub style="vertical-align: bottom; line-height: 1; font-size: smaller;">5 </sub>Attributable</div>
              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt; font-weight: bold;">to ICL (Mt)</div>
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              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt; font-weight: bold;">Grades</div>
              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt; font-weight: bold;">(P<sub style="vertical-align: bottom; line-height: 1; font-size: smaller;">2</sub>O<sub style="vertical-align: bottom; line-height: 1; font-size: smaller;">5</sub>)</div>
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              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt; font-weight: bold;">Metallurgical</div>
              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt; font-weight: bold;">Recovery</div>
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              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">Proven mineral reserves</div>
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              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">&#160;50.9</div>
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              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">11.10</div>
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              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">5.55</div>
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              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">15%</div>
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              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">89.3%</div>
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              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">Probable mineral reserves</div>
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              <div style="line-height: 1.25;">
                <div style="line-height: 1.25; color: rgb(0, 0, 0); font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">&#160;-</div>
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              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">-</div>
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              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">-</div>
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              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">-</div>
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              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt; font-weight: bold;">Total mineral reserves</div>
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                <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt; font-weight: bold;">&#160;50.9</div>
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              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">21.8%</div>
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              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">11.10</div>
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              <div style="line-height: 1.25; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">5.55</div>
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            <td style="width: 10.92%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
            <td style="width: 14.07%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">&#160;</td>
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      <div style="line-height: 1.25;">&#160;</div>
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            <td style="width: 32pt; vertical-align: top; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">(1)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">All figures are rounded to reflect the relative accuracy of the estimate, and numbers may not sum due to rounding.</div>
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      <div style="line-height: 1.25;">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="zb223a319f326464989c1daa20c6c34ae" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 32pt; vertical-align: top; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">(2)</td>
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              <div style="font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">The point of reference for the Mineral Reserves is defined as the point where ore is delivered to the beneficiation plants.</div>
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      <div style="line-height: 1.25;">&#160;</div>
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            <td style="width: 32pt; vertical-align: top; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">(3)</td>
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              <div style="font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">Mineral Reserves for Haikou are classified in accordance with the Pan European Reserves and Resources Reporting Committee (PERC) Standard for Reporting of
                Exploration Results (2021).</div>
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      <div style="line-height: 1.25;">&#160;</div>
      <table cellspacing="0" cellpadding="0" id="zc1ae8adeb8ab47148299a5b3fbc2cf07" class="DSPFListTable" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

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            <td style="width: 32pt; vertical-align: top; font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">(4)</td>
            <td style="width: auto; vertical-align: top; text-align: justify;">
              <div style="font-family: 'Eras Medium ITC',sans-serif; font-size: 8.5pt;">YPH is a consolidated subsidiary of the Company. The reported tonnages and grades are on a 100% basis. The contained P2O5 attributable to ICL reflects the
                Company&#8217;s 50% interest. While YPH is consolidated into our financial statements, YYTH owns a 50% minority interest in YPH.</div>
            </td>
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      </table>
      <div style="line-height: 1.25;">&#160;</div>
      <div style="text-align: center; line-height: 1.25; font-family: Arial,sans-serif; font-size: 10.5pt;">*&#160; &#160; &#160; &#160; &#160; *&#160; &#160; &#160; &#160; &#160; *</div>
      <div style="text-align: center; line-height: 1.25; font-family: Arial,sans-serif; font-size: 10.5pt;"> <br>
      </div>
      <div style="line-height: 1.25; font-family: Arial,sans-serif; font-size: 10.5pt;">Please do not hesitate to contact me at +972-54-4268416 or <font style="color: rgb(5, 99, 193);"><u>Aviram.Lahav@icl-group.com</u></font>
        if you have any questions regarding the foregoing or if we can provide any additional information.</div>
      <div style="line-height: 1.25;">&#160;</div>
      <div style="text-align: justify; line-height: 1.25; color: rgb(0, 0, 0); font-family: Arial,sans-serif; font-size: 10.5pt;">Very truly yours,</div>
      <div style="line-height: 1.25;">&#160;</div>
      <table cellspacing="0" cellpadding="0" border="0" id="z19912d7c9de54a3dbb542b365696314f" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%; text-align: left; color: #000000;">

          <tr>
            <td style="width: 3%; vertical-align: top; padding-bottom: 2px;">
              <div style="text-align: justify; line-height: 1.25; font-family: Arial,sans-serif; font-size: 10.5pt;">By:</div>
            </td>
            <td style="width: 22%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);">
              <div style="text-align: justify; line-height: 1.25; font-family: Arial,sans-serif; font-size: 10.5pt;">/s/ Aviram Lahav</div>
            </td>
            <td style="width: 75%; vertical-align: top; padding-bottom: 2px;" colspan="1">&#160;</td>
          </tr>
          <tr>
            <td style="width: 3%; vertical-align: top;" rowspan="1">&#160;</td>
            <td style="width: 22%; vertical-align: top;" rowspan="1">
              <div style="text-align: justify; line-height: 1.25; font-family: Arial,sans-serif; font-size: 10.5pt;">Aviram Lahav</div>
              <div style="text-align: justify; line-height: 1.25; font-family: Arial,sans-serif; font-size: 10.5pt;">Chief Financial Officer</div>
              <div style="text-align: justify; line-height: 1.25; font-family: Arial,sans-serif; font-size: 10.5pt;">ICL Group Ltd.</div>
            </td>
            <td style="width: 75%; vertical-align: top;" colspan="1" rowspan="1">&#160;</td>
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