SCHEDULE: Migdal Group Discloses 6.87% Stake in ICL Group Ltd.

Migdal Insurance & Financial Holdings Ltd. and its subsidiaries have disclosed a 6.87% beneficial ownership stake in ICL Group Ltd. ordinary shares.

Summary

• Migdal Insurance & Financial Holdings Ltd., along with its subsidiaries Migdal Insurance Company Ltd., Migdal Sal Domestic Equities, and Migdal Mutual Funds Ltd., collectively reported beneficial ownership of 88,693,705 ordinary shares of ICL Group Ltd.
• This aggregate ownership represents 6.87% of ICL Group Ltd.'s outstanding ordinary shares.
• The shares are held with sole voting power and sole dispositive power for all 88,693,705 shares.
• Migdal Sal Domestic Equities holds 78,990,548 shares (6.1% of class) for public members through provident funds, pension funds, and insurance policies.
• Migdal Mutual Funds Ltd. holds 9,703,157 shares (0.8% of class) for public members through mutual funds.
• The reporting persons certify that the securities were not acquired and are not held for the purpose of changing or influencing control of ICL Group Ltd.

Sentiment

Score: 6

Explanation: The disclosure of a significant passive institutional stake is generally a neutral to slightly positive signal, indicating investor confidence without implying immediate operational changes or financial distress.

Positives

• A significant institutional stake of 6.87% by Migdal Group may signal confidence in ICL Group Ltd.'s long-term prospects from a major financial institution.
• The passive nature of the investment, as certified by Migdal, indicates a focus on investment returns rather than disruptive corporate control battles.

Negatives

• No explicit negatives are presented in this ownership disclosure filing.

Risks

• The filing explicitly states that the securities were not acquired and are not held for the purpose of changing or influencing the control of the issuer, mitigating risks associated with activist investor involvement.

Future Outlook

This filing does not provide forward-looking statements or guidance regarding ICL Group Ltd.'s future operations or financial performance, as it is solely an ownership disclosure.

Management Comments

• "By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11."

Industry Context

The disclosure of a significant stake by a major Israeli insurance and financial holding group like Migdal in ICL Group Ltd., a global specialty minerals company, highlights continued institutional interest in established industrial and materials sectors. Such investments reflect broader trends of asset managers seeking stable, long-term value in companies with strong market positions.

Comparison to Industry Standards

• NA

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional holder can provide a degree of stability and confidence, as it indicates a major investor sees value in the company.
• Employees, Customers, Suppliers, Creditors: No direct impact is indicated by this passive ownership filing, as Migdal Group has stated no intent to influence control.

Next Steps

• No specific future actions or milestones for ICL Group Ltd. are mentioned in this ownership disclosure filing.

Key Dates

Keywords

ICL Group Ltd, Migdal Insurance & Financial Holdings, Schedule 13G, Beneficial Ownership, Institutional Investor, Ordinary Shares, SEC Filing, Passive Investment