ICL Strategy

Hezi Israel, EVP BD & Strategy

מטפחים את ההווה. מפתחים את העתיד.

CULTIVATING THE PRESENT. DEVELOPING THE FUTURE.

Safe Harbor

This Presentation (references to which and to any information contained herein shall be deemed to include information which has been or may be supplied in writing or orally in connection herewith or in connection with any further enquiries) is provided for the sole purpose of providing general information to assist the recipient in deciding whether it wishes to proceed with a further investigation for investing in Israel Chemicals Ltd. and/or its affiliates (hereinafter jointly referred to as the "Company" or "ICL"). This Presentation shall not form the basis of, or be relied upon in connection with, any contract or commitment whatsoever, and it does not purport to be comprehensive or to contain all the information that the recipient may need in order to evaluate the Company and/or its assets .

No representation, warranty or undertaking, express or implied, is given by ICL and/or any member of the ICL Group or their respective directors, officers, employees, agents, representatives and/or advisers as to or in relation to the accuracy, completeness or sufficiency of the information contained in this Presentation or as to the reasonableness of any assumption contained therein. To the maximum extent permitted by law, the Company and its respective directors, officers, employees, agents, representatives and/or advisers expressly disclaim any and all liability which may arise from this Presentation and any errors contained therein and/or omissions therefrom or from any use of this Presentation or its contents or otherwise in connection therewith.

No representation or warranty is given as to the achievement or reasonableness of, and no reliance should be placed on, any valuations, forecasts, estimates, opinions and projections contained in this Presentation. In all cases, recipients should conduct their own investigation of any analysis of the Company and/or its assets and the information contained in this Presentation. Nothing in this Presentation constitutes investment advice and any opinions or recommendations that may be contained herein have not been based upon a consideration of financial situation or particular needs of any specific recipient. Any prospective investor interested in buying Company's securities or evaluating the Company and/or its assets is recommended to seek its own financial and other professional advice.

This Presentation and/or other oral or written statements made by ICL 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, those that discuss strategies, goals, financial outlooks, corporate initiatives, existing or new products, existing or new markets, operating efficiencies, or other non-historical matters .

These forward-looking statements and projections are not guarantees of future performance and are subject to a number of assumptions, risks, projections and uncertainties, many of which are beyond the Company's control, which could cause actual results, performance or achievements to differ materially from those described in or implied by such statements or projections. Because such statements deal with future events and are based on ICL's current expectations, they could be impacted or be subject to various risks and uncertainties, including those discussed in the "Risk Factors" section and elsewhere in our Annual Report on Form 20-F for the year ended December 31, 2017, and in subsequent filings with the Tel Aviv Securities Exchange (TASE) and/or the U.S. Securities and Exchange Commission (SEC). Although the Company believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can provide no assurance that expectations will be achieved. Except as otherwise required by law, ICL 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 disclaims the accuracy and completeness of such information which is not guaranteed. Internal estimates and studies, which we believe to be reliable, have not been independently verified. We cannot assure that such data is accurate or complete .

Included in this presentation are certain non-IFRS financial measures, such as Adjusted Operating income and Adjusted Net income, designed to complement the financial information presented in accordance with IFRS because management believes such measures are useful to investors. These non-IFRS financial measures should be considered only as supplemental to, and not superior to, financial measures provided in accordance with IFRS. Please refer to our Annual Report on Form 20-F for the year ended December 31, 2017 filed with TASE and the SEC for a reconciliation of the non-GAAP financial measures included in this presentation to the most directly comparable financial measures prepared in accordance with GAAP.

ICL TODAY

ICL Today

AGRICULTURE

Creating Value Along the Chain

Where do we want to go?

Our Strategic Guiding Principles

Upstream Vs. Downstream

Highly Capital Intensive
Volatile Market

UPSTREAM DOWNSTREAM

Successful track records in Phosphate & Bromine
Show greater cycle resilience
Higher ROI

OPTIMIZATION

IDENTIFY GROWTH OPPORTUNITIES

Our Strategic Focus

Optimization of our Mineral Assets

Operational Excellence In the Dead Sea and Rotem

Production process improvement
Early retirement plan
Rock production optimization
Energy efficiency
Maintenance optimization

ICL UK – full shift to Polysulphate in progress

~ 50% reduction in workforce
Targeting 1M tonnes by 2020
Significant reduction in loss expected in 2018, profitability expected from 2020

ICL Iberia – mine consolidation & logistics upgrade

▪ Building access ramp, expand capacity in Suria

15

▪ New port terminal

YPH: Hub for Our Specialty Businesses in China

Significant reduction in operating loss in 2017
Operating break even expected in 2018
Accelerated shift towards specialty

Optimization

~10-15% ~5M Tonne

Reduction in potash cost per tonne over 5 Years

Maintain stable Potash production

Phosphate and UK to Specialty

Shift

Strong Market Position - A Robust base for Our Future

Highest concentration of Bromine in the World

Full phosphate chain from Rock to Salts: largest global merchant marketer of Purified Phosphoric acid

Variety of single, multi blends and agglomeration technology in food ingredients

Continuous Quest for Global Opportunities

Value over volume in phosphate specialties as done in the bromine value chain
Potential in China dilution of bromine resources and environmental regulation; grow WPA and salts
Drive innovation based on global trends
Bolt on acquisitions

Maintain strength. Provide stability.

Outgrow the market

Expand margins

Our Strategic Focus

Polysulphate as a Flagship of Our Semi-Specialty Business

A PREMIUM NICHE FERTILIZER WITH UNIQUE BENEFITS

From One Mineral to A World of Value Added Products

PK PluS Polysulphate NPK+Poly NPK+Micro NPS+Zinc NPS Potash Plus NPK + Coated PK PluS Polysulphate NP-APP SOP+ Poly NPK+Poly NPK+Micro NPS+Zinc NPS Potash Plus NPK + Coated PK PluS Polysulphate Granulated MOP NP-APP SOP+ Poly NPK+Poly NPK+Micro NPS+Zinc NPS Potash Plus NPK + Coated PK PluS Polysulphate Granulated MOP+Zinc Granulated MOP NP-APP SOP+ Poly NPK+Poly NPK+Micro NPS+Zinc NPS Potash Plus NPK + Coated PK PluS Polysulphate Polysulphate

2017