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ICL Group (ICL) investor relations material
ICL Group Investor update summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Agreement finalization and key terms
Signed a final, binding agreement with the State of Israel on asset valuation and transition, based on the November 2025 MOU, with no significant changes from prior disclosures.
Asset valuation set at $2.54 billion, plus reimbursement for permanent salt harvesting project investments made from January 1, 2025, estimated at hundreds of millions of dollars.
Payment schedule finalized: 95% of consideration paid April 1, 2030, remaining 5% by September 1, 2030, with additional reimbursement for Harvesting Solution investments within 60 days of completion if not finished by concession end.
All tangible and intangible assets to be transferred in usable condition at concession end, ensuring operational continuity.
State has no right of setoff against the total consideration, securing payment certainty.
Downstream operations and supply continuity
Agreement secures continued supply of raw materials for downstream operations (bromine compounds, periclase) through 2035, with possible extension.
No expected material change in profitability for downstream or concession operations until at least 2035.
If not awarded the new concession, alternative sourcing and business adjustments are planned, including non-bromine flame retardants.
Operational agreements for downstream supply will remain in effect until at least March 31, 2035.
Tender process and future concession
Government plans to finalize new law within 1–1.5 years, then start prequalification for the new concession in 2026.
RFP expected in 2027, with concession holder chosen by end of 2027 and allocation in early 2028, though this timeline is considered optimistic.
Company will cooperate with the tender process, providing necessary data and site access for due diligence.
National security arrangements may limit foreign ownership in future concession awards.
Company intends to participate in the future concession tender if terms are economically viable and regulatory environment is stable.
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