Phosphoric Acid, Phosphates & Fertilizers Experts

Itafos Announces Appointment of Chief Executive Officer

TORONTO, ON – January 20, 2019 – Itafos (TSX VENTURE: IFOS) (the “Company”) announced today that its Board of Directors has appointed Dr. Mhamed Ibnabdeljalil as Chief Executive Officer, effective immediately. Dr. Ibnabdeljalil has been serving as interim Chief Executive Officer since May 16, 2019. Dr. Ibnabdeljalil has also been serving as a member of the Company’s Board of Directors since December 31, 2016 and will continue in that role.

“The Board of Directors is pleased to confirm Mhamed as permanent CEO” said Anthony Cina, interim Chairman of the Company’s Board of Directors. “Since becoming interim CEO, Mhamed has been integral in reshaping our strategy and business plan during a challenging economic cycle as the industry faces significant and continued downward pressure on global fertilizer prices. We are extremely confident that Mhamed’s extensive knowledge of and experience in the global fertilizer market makes him uniquely qualified to lead the Company and our global executive team over this next phase in the Company’s growth and success”.

Dr. Ibnabdeljalil has a track record in leading multi‐billion-dollar sales, marketing, raw material procurement, logistics, complex deal structuring and negotiation, and emerging markets M&A efforts across emerging and developed markets. Previously, he served as the Executive Vice President and Chief Commercial Officer of OCP Group S.A., a leader in the global phosphate industry. There, Dr. Ibnabdeljalil played an integral role in the corporate and strategic restructuring of OCP, reshaping its role in the phosphate fertilizer sector as a global leader. Dr. Ibnabdeljalil has served as a director on more than a dozen boards of fertilizer companies in Europe, India, Middle East and Americas.