Brief description of ICL and Yuntianhua JV

Description of the Transaction

ICL will invest up to $500 million in its strategic alliance with Yunnan Yuntianhua which will include a) the creation of a new joint venture company in which ICL will have 50% ownership and which will operate an integrated, world-scale phosphate platform across the value chain and b) a strategic holding in Yunnan Yuntianhua, China's leading producer of phosphate rock and fertilizers, as detailed below: 

The joint venture will include the following assets:

• A world-scale phosphate rock mine, currently operated by Yunnan Yuntianhua, that produces approximately 2.5 million tonnes of phosphate annually, and which will become the JV's full backward integration as a competitive phosphate platform.
• An integrated, world-scale phosphate operation with annual capacity of approximately 1,850,000 tonnes of sulfuric acid, 700,000 tonnes of phosphoric acid, 850,000 tonnes of fertilizers, 60,000 tonnes of purified phosphoric acid, 120,000 tonnes of specialty fertilizers and 65,000 tonnes of specialty phosphates for the food and engineered materials markets.