Uralkali Announcement on Legal Ruling

20.06.2024

Uralkali, one of the world’s leading potash producers, announces that the arbitral tribunal under the Swiss rules of international arbitration has ruled on the dispute between the Company and the Haas F1 Team regarding the termination of its sponsorship agreement with Uralkali.

Following a detailed examination of the case, the tribunal found that Haas was in violation of the contract and obliged the Team to pay compensation to Uralkali. The tribunal also rejected all of the Team’s counterclaims toward the Company.

The arbitral award puts an end to the dispute between Uralkali and Haas regarding the sponsorship agreement.

As a key player in ensuring global food security, as well as a company that has shown support for social projects over the course of many years, including sports related programs in Russia and internationally, Uralkali welcomes the decision by the tribunal.

The Company anticipates that Haas will fulfil its obligations under the ruling without undue delay. The funds, once received, are intended for the development and modernisation of the Company’s production facilities.

Uralkali (www.uralkali.com) is one of the world’s largest potash producers and exporters. The Company’s assets consist of 5 mines and 7 ore treatment plants in the towns of Berezniki and Solikamsk (Perm Region, Russia). Uralkali employs more than 13,300 people in the main production unit.