ICL Signs Memorandum of Understanding with Aleees for Production of Lithium Iron Phosphate Battery Cathode Materials

TAOYUAN,Taiwan,July 8,2022 --ICL (NYSE: ICL) (TASE: ICL),a leading global specialty minerals company,today announced it has signed a memorandum of understanding (MOU) with Aleees,a Taiwanese manufacturer of Lithium Iron Phosphate (LFP) battery cathode materials. As part of the understanding,Aleees will grant licensed technology on LFP to ICL and will also provide the company with technical information and support services to accelerate the development of cathode material production in the United States.

Plans call for ICL to establish production of 30,000 metric tons,and also future ramp up,for LFP battery cathode materials at its manufacturing campus in St. Louis,which is also its North American headquarters and where the company has a global R&D center.

"We're looking forward to collaborating with Aleees,a premier LFP technology provider,with customers in Japan,South Korea,Europe and the United States," said Philip Brown,president of ICL Phosphate Specialties and managing director of North American. "ICL is excited to lead the establishment of a localized,integrated,sustainable supply chain of LFP battery materials for U.S.-based customers and to reduce the risk for U.S. companies currently dependent on foreign supply of LFP materials."

"The global energy storage market has clearly shifted toward LFP batteries as the dominate more sustainable,safer and cost-effective solution,and we expect our future production to be exclusively dedicated to this area,with our demand estimated to surpass 170,000 metric tons by 2025,and 500,000 metric tons by 2028," said Edward Chang,President of Aleees.

About ICL

ICL Group is a leading global specialty minerals company,which also benefits from commodity upside. The company creates impactful solutions for humanity's sustainability challenges in the global food,agriculture and industrial markets. ICL leverages its unique bromine,potash and phosphate resources,its passionate team of talented employees,and its strong focus on R&D and technological innovation,to drive growth across its end markets. ICL shares are dually listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and TASE: ICL). The company employs more than 12,000 people worldwide,and its 2021 revenues totaled approximately$7 billion.

For more information,visit ICL's website atwww.icl-group.com.

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About Aleees

Aleees (TWSE: 5227),founded in 2005 with main office and factory located in Taiwan,is a lithium-iron phosphate (LFP) battery material manufacturer with longest history as well as an IP licensor in the world,and is also one of the few companies outside mainland China with complete LFP battery material manufacturing technology and patents. Aleees Taiwan owns more than 200 exclusive patents worldwide,with customers including world-renowned energy storage battery and EV battery customers across Europe,U.S.,Japan,Korea,and Asia. At present Aleees co-develops various types of LFP products with more than 40 global customers,and produces high-quality,low-cost,and long-life-cycle LFP cathode materials. In the 17 years since its establishment,it has accumulated more than 15,000 tons of LFP product shipments totally from Taiwan facility.

For more information,visit Aleees' website at https://www.aleees.com/en/