Israel : ICL Group - Investor Presentation Third Quarter 2021Open link in a new window

This is an English convenience translation of the original Hebrew version. In case of any

discrepancy, the binding version is the Hebrew original

Israel Corporation Ltd.

Registrar Number: 520028010	Form 121
Public
	Date of Transmission: November 4 2021
	Reference: 2021-01- 163107

To:	To:
The Securities Authority	The Tel Aviv Stock Exchange
www.isa.gov.il	www.tase.co.il

Immediate Report

The Event: ICL Group - Investor Presentation Third Quarter 2021

Attached is an immediate report of ICL Group - Investor Presentation Third Quarter 2021

The Company is not a shell company as defined in the Stock Exchange Regulations

The date when the event first became known to the corporation: November 4, 2021

Time: 09:00

Name of report authorized signatories who are authorized to sign in the name of the corporation:

	Name of the signor	Position
1	Maya Alcheh Kaplan	Other
		Vice President, General Counsel and Company's Secretary
2	Sagi Kabla	CFO

Name of report authorized signatory and name of authorized signatory electronic signatory: Maya Alcheh-Kaplan

Position: Vice President, General Counsel and Company's Secretary

Signing Date: November 4, 2021

Name of Electronic Reporter: Maya Alcheh-Kaplan. Position: Vice President, General Counsel and Company's

Secretary. Address: Aranha 23, Millennium Tower. Tel Aviv 61204. Phone - 03-6844517 Fax: [phone].E-mail: [e-mail].

Third Quarter 2021

Financial Results

R a v i v Z o l l e r

President and CEO

November 4, 2021

Important legal notes

Disclaimer and safe harbor for forward-looking statements

The information contained herein in this presentation or delivered or to be delivered to you during this presentation does not constitute an offer, expressed or implied, or a recommendation to do any transaction in ICL Group Ltd. (ICL Group or company) securities or in any securities of its affiliates or subsidiaries.

This presentation and/or other oral or written statements made by ICL Group during its presentation or from time to time, may contain forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and other applicable securities laws. Whenever words such as "believe," "expect," "anticipate," "intend," "plan," "estimate", "predict" or similar expressions are used, the company is making forward-looking statements. Such forward-looking statements may include, but are not limited to, its 2021 guidance, those that discuss strategies, goals, financial outlooks, corporate initiatives, existing or new products, existing or new markets, operating efficiencies, or other non-historical matters.

Because such statements deal with future events and are based on ICL Group's current expectations, they could be impacted or be subjected to various risks and uncertainties, including those discussed in the "Risk Factors" section and elsewhere in the company's Annual Report on Form 20-F for the year ended December 31, 2020, and in subsequent filings with the Tel Aviv Stock Exchange (TASE) and/or the U.S. Securities and Exchange Commission (SEC). Therefore, actual results, performance or achievements of the company could differ materially from those described in or implied by such forward-looking statements.

Although the company believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can provide no assurance expectations will be achieved. Except as otherwise required by law, ICL Group disclaims any intention or obligation to update or revise any forward-looking statements, which speak only as of the date hereof, whether as a result of new information, future events or circumstances or otherwise. Readers, listeners and viewers are cautioned to consider these risks and uncertainties and to not place undue reliance on such information.

Certain market and/or industry data used in this presentation were obtained from internal estimates and studies, where appropriate, as well as from market research and publicly available information. Such information may include data obtained from sources believed to be reliable, however, ICL Group disclaims the accuracy and completeness of such information, which is not guaranteed. Internal estimates and studies, which the company believes to be reliable, have not been independently verified. The company cannot assure such data is accurate or complete.

Included in this presentation are certain non-GAAP financial measures, such as adjusted operating income, adjusted operating income margin, adjusted EBITDA, adjusted EBITDA margin, adjusted net income, adjusted EPS, segment EBITDA, segment EBITDA margin and free cash flow, designed to complement the financial information presented in accordance with IFRS because management believes such measures are useful to investors. Please note other companies may calculate similarly titled non-GAAP financial measures differently than ICL Group and definitions of these measures may differ from those used by other companies or such companies may use other measures to evaluate their performance, which may reduce the usefulness of our non-GAAP financial measures as tools for comparison. These non-GAAP financial measures should be considered only as supplemental to, and not superior to, financial measures provided in accordance with IFRS. Please refer to the company's third quarter 2021 press release for the period ended September 30, 2021, and the appendix to this presentation for a reconciliation of the non-GAAP financial measures included in this presentation to the most directly comparable financial measures prepared in accordance with IFRS.

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3Q'21 summary

Results driven by specialties, with commodity upside

• Another quarter of specialties results improvement
• Another quarter of rising commodity prices
• Overcame higher overall costs and global supply chain challenges
• All four businesses contributed, reporting double-digit growth in sales and EBITDA
• Continued strengthening cash flow generation
• Recent Brazilian acquisitions helped balance traditional seasonality of Innovative Ag Solutions
• Raising guidance expectations

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Third quarter 2021

Key financial highlights

US$M	3Q'21	3Q'20	YoY Change
Sales	$1,790	$1,204	49%
Gross profit	$689	$365	89%
Gross margin	38.5%	30.3%	820 bps
Operating income	$321	$100	221%
Adjusted operating income(1)	$315	$106	197%
Adjusted operating margin(1)	17.6%	8.8%	879 bps
Net income, attributable	$225	$54	317%
Adjusted net income, attributable(1)	$215	$58	271%
Adjusted EBITDA(1)	$421	$226	86%
Adjusted EBITDA margin(1)	23.5%	18.8%	470 bps
Diluted earnings per share	17¢	4¢	325%
Adjusted diluted EPS(1)	17¢	5¢	240%
Operating cash flow	$273	$203	34%

(1) Adjusted operating income and margin, adjusted net income, adjusted EBITDA and margin, and adjusted EPS are non-GAAP financial measures; see reconciliation tables in appendix.

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