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REGIONAL DEVELOPMENT THROUGH STRATEGIC INVESTMENTS

Regional development through strategic investments

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Approximately 70% of the total investments to develop Phosboucraa since its creation have been made since 2002 when Phosboucraa became fully owned by OCP. These have led to significant improvements in operational efficiency, employees wellbeing and allowed for a greater consolidation of assets, including substantial improvement of the company’s overall sustainability performance.

The current investment program will profoundly expand Phosboucraa’s industrial capabilities by 2022. OCP Group has dedicated a significant share of its global investment program to the development of Phosboucraa (i.e. approximately 10% of the Group’s total CAPEX). This new round of investments ensures the long-term sustainability of the mining operations, so accelerating the social and economic development of the region – a target for OCP across all of its operations. Investment includes:

Investing in regional industrial development projects

Promoting the emergence of a local network of suppliers and subcontractors

Initiating structurally transformational projects in the areas where the Group operates

Morocco’s global phosphate reserves

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With an installed mining capacity of 2.6 million tons per year, Phosboucraa operates the smallest phosphate ore deposit owned by OCP Group, since it represents approximately 2% of Morocco’s Phosphate reserves, according to the US Geological Survey and the International Fertilizer Development Center.