ICL Group Ltd. hereby announced, that it has signed a binding memorandum of understanding with a European Customer, to supply 300,000 metric tons of potash annually. The terms of the MOU will be incorporated into a definitive long-term agreement, which will enter into force on January 1, 2023, and will remain effective for a period of two consecutive years, with an automatic renewal for successive periods of 1 year each. The price will be based on the prevailing market prices and in accordance to mutual understandings.

The product shall be manufactured and delivered from ICL's plants in Israel and Spain, following completion of the capacity ramp up in ICL's facility in Spain.