#1Global OCIG Q3 2023 Results Presentation 7 November 2023 AMBO#2Disclaimer Global OCIGI This presentation ("Presentation") has been prepared by OCI N.V. (the "Company"). By accessing and reading the Presentation you agree to be bound by the following limitations: This Presentation does not constitute or form a part of, and should not be construed as, an offer for sale or subscription of or solicitation of any offer to purchase or subscribe for any securities in any jurisdiction, and neither this Presentation nor anything contained herein shall form the basis of, or be relied upon in connection with, or act as an inducement to enter into, any contract or commitment whatsoever. This Presentation may not be distributed to the press or to any other persons, and may not be redistributed or passed on, directly or indirectly, to any person, or published, in whole or in part, by any medium or for any purpose. 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No liability to any person is accepted by the Company, including in relation to the distribution of the Presentation in any jurisdiction. 2#3Safety First: Commitment to Zero Injuries Global OCIGI OCI is committed to providing a safe and healthy workplace for all employees and stakeholders by implementing the highest international safety standards to avoid any potential risks to people, communities, assets or the environment Total TRIR (Total Recordable Injury Rate) 1,2 Target zero injuries at all facilities 1.4 Industry Average at 1.243 1.2 10 1.0 0.8 0.6 0.4 0.2 Q3 2023 Performance 0.0 Jan-20 May-20 Sep-20 Jan-21 May-21 Sep-21 Jan-22 May-22 Sep-22 Jan-23 May-23 Sep-23 (1) Includes both employees and contractors (2) Per 200,000 hours worked (3) 2019 IFA Industry Estimate (latest available) ■ Goal to achieve leadership in safety and health standards by fostering culture of zero injuries at all production facilities ■ 12-month rolling recordable incident rate at the end of September 2023 was 0.34 incidents per 200,000 manhours 3#4OCI Global Executive Summary Q3 '23 revenues $1.1 billion, adjusted EBITDA $242 million, adjusted net loss $95 million, consolidated net leverage 1.5x. Kol A Nitrogen outlook: Nitrogen prices bottomed in late Q2 2023/early Q3 2023; ammonia and urea prices are now up ~150% and ~35% respectively from trough levels, supported by demand recovery and tightening supply. Limited incremental capacity additions in the next several years, and elevated marginal production costs provide long term support for the market. Methanol outlook: Prices reached trough levels in early Q3 2023 but have since recovered ~45%. Over the medium term, methanol markets are expected to be supported by a recovery in the global macro environment as and when this materializes, higher oil prices and improving MTO affordability, boosted by accelerating delivery of methanol-fuelled ships. Hydrogen growth initiative updates: Texas Blue Ammonia project remains on track to commence production in early 2025. We are currently in advanced discussions regarding long-term offtakes and potential equity participation, reflecting strong commercial interest. In September, OCI announced a green hydrogen supply agreement with New Fortress Energy's ZeroParks, which allows OCI to scale up its green ammonia production capacity to 160,000 metric tons per year by 2026 OCI announced a doubling of green methanol production capacity to c400kt/yr by 2025 at our plant in Beaumont, Texas 4#5At a Glance OCI Global Revolutionizing energy-intensive industries through value-creating solutions to power a cleaner future sooner We're a game-changing global leader in nitrogen, methanol, and hydrogen, driving forward the decarbonization of food, fuel, and feedstock through cleaner products and practical, real-world solutions, accelerating the world's transition to a more sustainable future. No. Global Nitrogen No. 5 Global Methanol Producer No.1 3 Fertiliser Producer An unrivaled global footprint 7m tons gross ammonia capacity 3m tons methanol capacity 12m tons nitrogen Global Low Carbon Methanol Producer 1.5m tons DEF capacity LTM in numbers $6.0bn revenue $1.6bn adj. EBITDA $1.6bn capital returned to shareholders 13.3m tons sold >4,000 employees 0.14 LTIR 2.37 GHG intensity Our Targets 20% reduction in GHG intensity by 2030 25% female senior leaders by 2025 Key Investment Highlights Global producer and distributor of nitrogen, methanol, and hydrogen products Versatile products with many applications play a key role in supporting food security, clean feedstocks, and powering a cleaner future Unique global footprint provides structural advantage supported by strong distribution and trading platform Value accretive growth opportunities, robust capital structure, strong free cash flow conversion, and derisked balance sheet positioning OCI for growth fertilizer capacity Largest seaborne merchant ammonia and urea export platform globally Capacities are own production. (1) LTM refers to last twelve months to Q2 2023 Mika van Dam#6Global OCIGI Turning Point with Strong Rebound in Nitrogen Prices & Demand Urea prices have increased by +$100/t from <$300/t levels in June towards $400/t in Q3 and at the start of Q4 Rebound in nitrogen fertilizer prices Tightening supply balance Urea granular, FOB Egypt: recent price movement, $/t 1,000 Y-on-Y urea capacity additions, Million t 7 800 600 400 200 Jan-23 Feb-23- weekly average prices 6 Ammonia 5 cfr NW Europe 4 Ammonia cfr Tampa 2 Urea fob Egypt 1 =$400 Mar-23- Apr-23 - May-23- Jun-23- Jul-23- Aug-23- Sep-23- Oct-23- Sources: CRU, OCI analysis | Notes: Urea capacity additions excluding China 2021 2022 Most capacity from 2022 and 2023 has been absorbed by the market in H1 2023 Historical Y-on-Y Demand Growth 2023 * 2024 Drivers Demand recovery: Fertilizer affordability +8% since January 2023 Increased urea import demand in APAC & EU markets Record sales in India in Jul-Aug 2023, active tender activity by IPL & RCF supportive of robust import demand Low nitrogen inventory levels Very tight supply Limited supply commissioning 2023 - 2027 Normalization of trade flows High marginal cost producers ✓ Elevated gas forwards for next 2 winters support much higher marginal cost floors * incl. Russian capacity at risk of delays 6#7Q3 2023 Financial Summary Own Produced Sales Volumes (million mt) Methanol Nitrogen 0.4 0.3 0.3 Key Product Benchmark Prices ($/mt) Urea Egypt -44% 749 479 2.2 2.3 2.4 Q3 2021 Q3 2022 Q3 2023 Net Revenue ($m) 1,537 2,330 -54% Global OCIGI Methanol US contract -12% 420 557 594 520 Q3 2021 Q3 2022 Q3 2023 Q3 2021 Q3 2022 Q3 2023 Adj. EBITDA ($m) 501 1,069 -75% 962 242 Net Debt ($m) 2,201 +6% 2,326 Q3 2021 Q3 2022 Q3 2023 Q3 2021 Q3 2022 Q3 2023 30-Jun-23 30-Sep-23 7#8Q3 2023 Free Cash Flow and Net Debt Build-up Reconciliation of Q3 2023 Reported EBITDA to Free Cash Flow ($ million) 230 (42) (112) (18) (17) (55) Global OCIGI 11 (3) Reported EBITDA Working Capital Maintenance Capex Lease Payments Tax Paid Interest Paid Other Operating Free Cash Flow Change in Net Debt From 30 June 2023 to 30 September 2023 ($ million) 2,201 3 92 +124 2,326 13 16 Net Debt Free Cash Flow Growth Capex 30 June 2023 Other Non-cash and non-operating items Other Net Debt 30 September 2023 8#9OCI Global US Nitrogen Cash Conversion Consistently Among Highest in the Industry IFCO achieves consistently higher EBITDA per nutrient ton and margins than US peers: US Midwest premium advantage Adjusted EBITDA margin, % IFCO cash conversion is among Adjusted EBITDA per nutrient metric ton highest in the industry: Averages 2019 - H1 2023 IFCO US peers Low maintenance capex and tax advantages Adj. EBITDA / Nutrient ton Q3 2023 impacted by turnaround and hedging losses: 100 EBITDA margin 55% 46% 1,600 90 EBITDA per nutrient metric ton 564 355 Excl. $16 million hedging losses IFCO's adj EBITDA / N ton increases from $231 to $354 1,400 80 70 60 50 40 باسيلا 30 20 10 1,200 1,000 800 600 400 200 0 0 1Q19 2Q19 3Q19 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 IFCO adj. EBITDA / nutrient metric ton 4Q22 1Q23 2Q23 3Q23 2019 2020 2021 2022 9M23 US nitrogen peers adj. EBITDA / nutrient metric ton IFCO adj. EBITDA avg. margin 2019 - 1H23 US Peers avg margin 2019 - 1H23 Source: Company information, Bloomberg Notes (1) IFCO EBITDA per nutrient tonne based on own produced volumes and excludes N-7 traded product (2) US peers include CF Industries, Nutrien (Nitrogen Segment only), LSB Industries and CVR Partners; Nutrien manufactured product only (excluding purchased product); IFCO excluding N-7 traded product (3) Q1 2021 IFCO margins adjusted for one-off natural gas hedging gains during the winter freeze 9#10Global OCIGI Establishing Green Methanol as the Low-Carbon Fuel of the Shipping Industry OCI follows the safe arrival of the first ever green methanol powered container ship with another bunkering Arrival in Copenhagen, Denmark MAERSK ALL THE WAY TO ZEHO In September, OCI HyFuels, in partnership with Maersk, completed the world's first green methanol power containership journey from Ulsan, Korea to Copenhagen, Denmark. We are proud to have powered the first green methanol container vessel. Providing innovative bunkering and numerous ports. We expect to leverage this early success to build our marine business. During the quarter OCI announced a doubling of its green methanol production capacity to c.400,000 metric tons per year. This will come from a mix of renewable feedstocks, including renewable natural gas (RNG), green hydrogen and other over the fence feedstock partnerships. The scale up plans include supply agreements for RNG exceeding 15,000 MMBtu per day, as well as securing rights from the City of Beaumont, to obtain biogas from landfill. This will be OCI's first upstream RNG production facility, with production expected to start in Q1 2025. OCI is the world's largest producer of green methanol and only global commercial scale supplier today Image credit: Maersk 10#11Global OCIGI Methanol As a Marine Fuel continues to Accelerate Methanol marine orderbook is ramping up as a result of increasing interest from the bulker segment and retrofits. Current Confirmed Methanol DF Engines Orderbook Bulk carrier 7% Other 6% Tanker 8% Support 9% Container ship 70% Key growth numbers Over 230 methanol DF engines are on order across 35+ ship owners Over half of new build container vessels orders placed in 2023 were for methanol DF engines Source: Company information, DNV Incremental Methanol Demand From Marine Fuels, Mt # Total Global Fleet >7Mt +1,494% 2022 2023 Mid 2020's 2028 27 vessels >50 vessels >250 vessels 11#12Texas Blue Ammonia: On Track For Early 2025 and Ahead of Other Projects Milestones OCI's 1.1 mtpa blue ammonia plant OCI Global ✓ First greenfield blue ammonia facility of this scale to come onstream in the US and globally Well underway and in key construction phase: ✓ Over 600,000 manhours completed ✓ Civil is 60% complete ✓ Erection of steel structures underway ✓ All long-lead equipment ordered, first deliveries Q4 2023 OSBL (utilities, common facilities, etc.) sized for future expansion optionality Storage tanks construction progressing with piling activities nearing completion Source: Company Information 12 12#13Capital Allocation Maintain as priority, target of <2x net leverage through the cycle → Supporting our Investment Grade credit rating Balanced deployment of capital from strong through-the-cycle FCF¹ Invest in growth Capital returns to shareholders Invest in hydrogen / energy transition and other growth opportunities Base distribution (paid semi-annually) To grow future FCF potential % of surplus FCF as special distribution or in the form of share buybacks Application of policy: Growth capex $350-450 million invested in clean projects 2023 Application of policy: Shareholder return, €0.85 per share (c.$200 million) interim dividend paid October 2023 (1) Free Cash Flow (FCF) defined as cash from operations less capex less lease payments less dividends to minorities. Global QCIGI 13 13#14Appendix Markets - OCI Global 14#15Global OCIGI Nitrogen Markets Continued their Recovery in Q3 and are Tightening Drivers Support Demand Driven Environment HIGH CROP PRICES and AFFORDABILITY SUPPORT NITROGEN DEMAND and PRICE RECOVERY Prior cycle (last 5-6 years) 30% Corn stocks-to-use ratio $3.7/bushel Average corn price 2015 - 2019 Current cycle 26% 2022 corn stocks-to-use ratio $5.2/bushel corn futures 2023 - 20251 میرا LL GAS AND COAL PRICES RESET in 2023, remaining higher than historical levels $5/MMBtu TTF (Dutch natural gas hub) $16/MMBtu TTF to end of 20252 TIGHTENING NITROGEN MARKET BALANCES ENVIRONMENTAL FOCUS DRIVES SHIFT FROM GREY TO BLUE / GREEN 23mt new urea capacity vs. 7mt 17mt demand growth 2015-2019 Wave of "grey" ammonia greenfield capacity additions in US, Europe, MENA new urea capacity vs. 13mt demand growth 2024-2027 Limited new grey ammonia capacity to 2027 and Significant new ammonia demand from power and shipping, accelerating post-2025 Source: Company Information, Argus, Industry consultants, (1) 2023 -2025 grain prices based on Dec'23 to Dec'25 futures (2) Average TTF futures from Nov-23 to Dec-25 15#1650 50 150 250 350 Robust Agricultural Fundamentals at least until 2025 Crop prices supported by stocks: use ratio below 10-year average Crop price index, Jan 2006 = 100 Urea affordability +26% since Q3 2022, supporting demand recovery Affordability Index, Jan 2006 = 100 M - 2003 2004 2005 2006 2007 2008 2009 2010 Global grain and oilseed stocks: use ratio (excl.-China), % 300 22% 250 200 20% 150 18% 100 - Below 10Y 50 average 16% 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Supportive Pressuring Balanced Crop price index Grains S:U ratio Source: Company information, CRU, Bloomberg, CME, USDA. 2003 2004 Urea Affordability Index OCI Urea affordability in Q3' 23 improved by ~26% YoY, DAP affordability +30% and MOP affordability +47%. More Less affordable affordable الم 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 - Potash Affordability Index Reduced urea import demand in India in 2023 has been off-set by robust & increased demand from other markets, incl. Australia, Turkey, EU, Thailand, Ukraine Strong underlying crop fundamentals: grain stocks-to-use ratio below the 10-year average support high farm incomes and increased planted acreage to rebuild stocks In the United States alone, 2023-2024 corn acreage expected to be up ≈7% year-over-year to 95 million acres. 2021 2022 DAP Affordability Index •Fertilizer Affordability Index 2023 16 Global#17OCI Global Constrained Chinese Exports & Robust Indian Imports Supportive Of Nitrogen Prices Chinese Exports Curtailed on Domestic Demand and Closures China urea exports, Mt 13.6 13.8 Indian Imports Robust Despite New Capacity Commissioning India imports, Mt India remains among top 3 urea importers globally 4.1 6.9 8.2 9.0 5.5 5.3 4.6 4.7 -47% 2.8 ≤4 Mt 2.4 10.5 9.7 10.5 9.0 +30% 7.9 7.7 7.7 7.5 7.1 7.0 ~7 Mt 6.3 5.9 . • 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 Medium-term exports expected ≤ 4.0 Mt given environmental policy impact and prioritization of energy & supply of fertilizers for domestic consumption Jan-Sep 2023 exports of 2.8 Mt. Winter storage program is underway in Q4. Source: CRU, MMFMS, China Customs, Company Information 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 • Indian imports supported by growth in crop area and subsidies favouring urea, partially offsetting higher domestic production from new capacity ramping up • Jan-Oct 2023 imports of 5.1 Mt, with a further ~1.6 Mt expected to be shipped by end 2023 17#18OCI Global Limited New Nitrogen Capacity, offset by Higher Demand Slowdown of new urea capacity additions, with good visibility given ~5-year project lead time Global urea net capacity changes and demand growth, excl.-China, Mt Merchant ammonia market expected to be underpinned by cost curve economics & impact of CBAM post-2026 Global ammonia capacity changes and demand growth, excl.-China excl.-urea, Mt 22.8 Supply Supply deficit of 6.1 Mt, significant reversal from 5.9 Mt oversupply in the last down cycle 2015-2019 Limited new additions 2024 - 2026: two thirds of the 6.6 Mt new supply expected to come onstream in 2027 16.9 Demand 2015-2019 Demand 12.4 8.2 6.6 2020-2023 12.7 2024-2027 Others USA Iran Nigeria India Russia 1 -2 -3 -4 5432-0 1 2 3 4 5 -1 Capacity Y-on-Y change Demand growth 3 permanent ammonia plant closures in Europe: United Kingdom (2) & Germany. More rationalization expected given cost-curve economics 2016 2017 2018 2019 2020 2021 2022 2023 Only accounts for new blue/green projects that have reached FID and doesn't account for demand upside from new applications 2024 2025 2026 2027 Most new Indian capacity was absorbed by the end of H1 2023, with the remaining only one Indian project expected to come online in 2026-27 Increased focus on the environment & interest in energy transition, limiting "grey" capacity additions in the US, EU, China and elsewhere Source: CRU, Industry Consultants, OCI analysis 18#19Global OCIGI Incremental Ammonia Demand From New Clean Energy Applications Accelerated demand growth potential post-2026 from new uses in power generation and marine fuels Outlook for incremental low-carbon ammonia demand by end-use to 2035, Million Mt Key Demand Drivers Emissions & carbon markets Current globally traded ammonia market annually ~20mt ~5 Mt <0.2Mt 2023 Conventional uses ~40 Mt ~25 Mt 2030 20355 15% ■Maritime Bunker 2 65% H2 and Power 20% 1 Development of ETS systems, CBAM and carbon credits Low-carbon hydrogen economies Development of multiple nationwide hydrogen roadmaps & strategies Decarbonization trend Corporate emissions reduction targets & national net zero targets 3 ■Decarbonizing Existing Apps New applications J Nitrogen-based Fertilizers Feedstock for Chemicals Marine Fuels Power generation H₂ Carrier Source: OCI, industry consultants Energy transition & security 4 Energy transition coupled with energy security & energy supply diversification Sustainability-driven business models 19#20Global OCIGI Ammonia Demand Snapshot Blue ammonia to dominate low-carbon NH3 market until 2030 due to higher cost for green / lack of concrete demand High Market readiness Low Blue Green Demand size (2030) Regulation Existing uses - blue (EU) CBAM Power blue Asia JP, KR, SG, TW Existing uses - green (EU) CBAM, RED, CfD Marine bunkering - green FuelEUM Hydrogen carrier - green (EU) RED, CfD Market readiness = demand technology readiness, economic competitiveness CfD = Contract for Difference scheme like SDE++ in the Netherlands, H2Global and the €50 billion industrial decarbonization fund from Germany Existing uses = fertilizers and chemicals Hydrogen carrier = ammonia being cracked back into hydrogen for use in refineries, mobility (ready today), steel, industrial heat, mixing in gas grid (in development) Marine bunkering - blue ETS, Gas Dir FuelEUM, Gas Dir Hydrogen carrier - blue (EU) Early proposal Power - blue Europe ETS, CfD Regulatory status Firm 20 20#21Global OCI Low Carbon Ammonia Supply Will Be Slow To Commission, OCI's Texas Blue Ahead Only <15% of announcements get built given hurdles, and <30% of announced projects realized on time Firm nitrogen projects in 2008 pipeline, ex-China, Million Mt 35 Total firm projects '08 22 22 Cancelled Similar trend in the US in 2014-2019: 9 projects from 35+ in pipeline realized (incl. brownfields), all established nitrogen peers -70% 1 2 11 Delayed Realized 4 - 6 year typical construction time for nitrogen projects¹ All other announced projects are pre- FID, few years behind OCI Texas Clean Ammonia Low carbon ammonia 2 supply bottlenecks Financing: higher interest rates, need for bankable long-term offtakes, especially new entrants Extensive ammonia infrastructure: scarce and expensive for non-incumbents 3 Scalable technology for green hydrogen projects likely 2030+ BD/ Feedstock supply Feasibility Phase Concept Phase Prepare for execution Construction Operation 4 Higher replacement costs and supply chain issues 12-24 months depending on complexity 6-12 months bidding for contracts, financing, etc. 30-36 months Source: Industry consultants Notes (1) Refers to large scale greenfield nitrogen plants 21 21#220 10 20 30 40 40 Jan-16 May-16 Sep-16 Jan-17 May-17 Sep-17 Henry Hub -TTF 50 70 80 60 60 TTF futures are $17/MMBtu for Q4'2023- 2024 with upside risk next winter Jan-18 May-18 Elevated Costs for Marginal Producers Supportive of Nitrogen Prices Global Feedstock Prices 2017-2023F, $/MMBtu Cash Costs per ton of Ammonia 2017-2023F, $/t Sep-18 Jan-19 May-19 Sep-19 Jan-20 May-20 Sep-20 Jan-21 May-21 Sep-21 Jan-22 May-22 Sep-22 Jan-23 Ukraine Chinese anthracite coal price -Asia LNG Global differentials between US, North Africa and EU marginal costs remain wide 3,000 May-23 Sep-23 0 Jan-16 500 Apr-16 1,000 1,500 2,000 Jul-16 Oct-16 Jan-17 Apr-17 Jul-17 Oct-17 Jan-18 2,500 Apr-18 Jul-18 Arbitrage between international ammonia pricing & domestic EU costs remains volatile and further rationalisation of capacity is expected: Three permanent closures in Europe in 2022/2023, with the possibility of further curtailments in EU & other regions. Source: Bloomberg, CCTD, CRU, OCI, Gas futures as of 23 October 2023 (1) Cash costs includes feedstock costs, and variable costs such as labour, SG&A, power. It does not include debt servicing or maintenance capex (2) Average North American production assumed to be 37.2 MMBtu per ton of ammonia for feedstock; Average European production assumed at 35 MMBtu per ton of ammonia for feedstock; Average Ukrainian production assumed at 38 MMBtu per ton of ammonia for feedstock; Chinese production assumed to be 1.12 tons of coal for feedstock. Oct-18 Jan-19 Apr-19 Jul-19 Oct-19 Jan-20 Apr-20 Jul-20 Oct-20 Jan-21 Apr-21 Jul-21 United States -Europe -Ukraine Chinese marginal costs Oct-21 Jan-22 Apr-22 Jul-22 Oct-22 Jan-23 Apr-23 Jul-23 Oct-23 222 22 Global OCIGI#23200 300 400 Significant Upside for Methanol Prices rebound through Q3; US and EU rebound above Asia Methanol spot prices, USD per metric ton 500 Methanol supply & demand balance tightening Methanol capacity vs. demand growth, Million Mt 2023 Capacity additions are exclusively in China and Iran, with low expected operating rates Methanol market outlook in structural deficit: Demand expected to exceed supply by 14 Mt Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Methanol Barge US Gulf Coast Source: Company information, MMSA, Argus 222 22 8 12 20 6 2020-2022 2023 2024E-2028E Additional Capacity Additional Demand Short-term moving towards mid-cycle, positive outlook in medium-term sustained: 1 Rebound in China through end 2023, supported by recent high MTO operating rates, growing traditional demand, and government economic stimulus Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 2 Limited new capacity, offset by diverse growing demand and potential rationalization of older, less efficient supply capacity 3 High oil and coal prices supportive, and methanol cheaper fuel (vs LNG, gasoline) Methanol CFR China Methanol FOB Rotterdam T2 Spot Accelerating demand as a hydrogen carrier, especially into marine fuels 23 Global OCIGI#24Appendix - Select Hydrogen Growth Projects Overview OCI Global 24 24#25A Global Nitrogen and Methanol Producer with State-of-the-Art Assets US 46% IFCO IFCO - US Natgasoline OCIB Natgasoline - US OCIB - US BioMCN-NL x% = 2022 Proportionate EBITDA4 by Geography Europe OCIN BioMCN 15% Global OCIGI Middle East 39% Sorfert EFC & EBIC Fertil OCIN - NL Sorfert - AL EFC & EBIC-EG Fertil - AD US Nitrogen ■ Production capacity (pa): 3.5mt¹ ■ Products: Ammonia, Urea, UAN, AdBlue / DEF ■ Feedstock: access to low-cost US gas ■ Texas Blue Ammonia 2025, with limited capex for OCI ■ DEF (c. 40% of 2022 sold volumes) EU Nitrogen ■ Production capacity (pa): 2.9mt¹ ■ Products: Ammonia, UAN, CAN, Melamine ■Feedstock: variable spot pricing based on TTF Methanol Group ■ Production capacity (pa): 3.2mt 1,2 ■ Products: Ammonia, Methanol and Bio-methanol ■ Feedstock: variable spot pricing based on HSC in the US or TTF in Europe Growth and Profitability Drivers ■ Addition of AdBlue / DEF H1 2024 ■ Focus on value added products ■Low carbon ammonia and nitrogen fertilizers (ISCC Plus certified already) ■ Renewable Natural Gas ■Biofuels and Marine fuels ■Green Methanol ■Chemical recycling Fertiglobe ■ Production capacity (pa): 6.7mt¹ ■ Products: Ammonia, Urea, AdBlue / DEF ■Feedstock: low-cost long-term gas supply contracts³ ■Low carbon, blue and green ammonia capacity additions in Abu Dhabi and Egypt with limited capex for OCI ■ AdBlue / DEF (1) Based on MPC and downstream capacity of all entities as of Q3'23, based on sellable capacity. DEF production capacity not included in Fertiglobe sellable volume capacity (2) Includes 50% of Natgasoline capacity and includes 365ktpa of ammonia capacity at OCIB (3) Gas price structure in Egypt and Algeria include profit sharing arrangements and Algerian gas contract expiring in Nov-23 (4) Excludes corporate costs and intercompany profit eliminations 25#26Global OCIGI OCI Benefits From Structural Cost Advantages That Are Hard To Replicate Low-Cost Position Attributable to Advantageous Access to Feedstock, Young Age and Distribution Infrastructure OCI gas consumption split in Q3 2023 Ammonia Global Cost Curve, FOB plant cash costs Y axis: Ammonia FOB costs in 2023, $/t; X axis: Gross ammonia global production, million mt, 9% Fertiglobe 30% 61% US Europe 800 2nd Quartile 1st Quartile 3rd Quartile Fertiglobe 400 An ADNOC and OCI Company at current spot prices OCI OCI BEAUMONT IOWA FERTILIZER 0 0 10 20 30 40 40 50 60 60 70 10 OCI 4th Quartile NITROGEN 80 90 100 110 120 130 140 150 160 170 All nitrogen and methanol sites outside Europe (91% of gas consumption in Q2 2023) are 1st quartile on global cost curve ■ OCI's European plants are top quartile on gas to ammonia conversion efficiency perspective at 31 GJ/NH3 ton vs European peers Methanol Global Cost Curve, delivered cash costs to coastal China Y axis: 2023 costs to coastal China, $/t; X axis: Cumulative Available Capacity, '000 mt 700 600 500 400 300 200 natgasoline 100 KOCI BEAUMONT 0 1 10 23 42 46 40 2023E China demand CFR East China: $303/mt 55 58 69 76 81 89 97 104 Source: Company information, CRU, MMSA 26#27OCI is at the Forefront of the Global Energy Transition Texas Blue Ammonia Scatec ORASCOM неруелетен коте og linde 日日日 Egypt Green Hydrogen Ди Ди BBB BBB Low-carbon ammonia UAE أدنوك ADNOC MITSUISCO GS Energy تعزيز TAZIZ A القادة Global OCIGI Available sustainable solutions Green methanol in US and Europe RNG in US Biofuels for road transport Green ammonia Egypt Bio-Ammonia (ISCC Plus) & BlueAmⓇ available for production at OCIB (up to 365 ktpa) Blue/green ammonia pilot shipments from Abu Dhabi and The Netherlands Diesel Exhaust Fluid / AdBlue® in US and Fertiglobe ISCC Plus Certified ammonia and downstream fertilizers in Netherlands, Texas and Egypt Supported by ISCC Plus certified Rotterdam ammonia import terminal Select low-carbon ammonia & methanol projects Blue ammonia Texas (start production early 2025) 1.1 mtpa (potential to double size) Low carbon ammonia, UAE 1 mtpa greenfield with TA'ZIZ, GS Energy, Mitsui Egypt Green Hydrogen ➤ Africa's first integrated green H₂ plant Expanding Rotterdam terminal throughput Doubling of green methanol production capacity to c400,000 metric tons per year Green hydrogen supply agreement with New Fortress Energy's ZeroParks Scaling up green ammonia production capacity to 160 ktpa by 2026 27 27#28Linde to Supply Clean Hydrogen and Nitrogen to OCI's Blue Ammonia Project OCI OCI Linde to supply 100% of facility's needs Global Global OCI Blue NH3 Linde's total investment ~$1.8 billion Connected to US Gulf Coast H2 pipeline network Nitrogen Ammonia (NH3) Linde signed an agreement with Exxon Mobil in April for CO2 offtake and sequestration Blue H₂ H₂ Pipeline OCI's total investment cost: ~$1 billion Air 02 Separation Unit Linde Natural Gas Auto- thermal Reformer CO₂ Avoidance of > 1.7 million tons CO2 ExxonMobil of CO2 emissions per year¹ Source: Company Information, Linde. Notes(1) OCI share 28#29Global QCIGI Carbon Footprint of Low Carbon Methanol & Ammonia Carbon Footprint of Green Methanol & Green Ammonia vs. Conventional Fuels on a Well-to-Wake basis, gCO2eq/MJ IMO revised strategy E- Ammonia E-Methanol Bio Methanol LNG Marine Gasoil Ultra Low Sulphur Fuel Oil Heavy Fuel Oil Very Low Sulphur Fuel Oil On 7 July 2023, the IMO adopted a revised strategy, setting out stronger ambitions, to reduce total GHG emissions by: 20% striving for 30% by 2030 (vs 2008) 70% striving for 80% by 2040 (vs 2008) Reach net zero 'by or around' 2050 (previously 50% GHG emissions) Full lifecycle emissions (well-to-wake or WtW) approach, will be used to measure these targets 0 10 20 30 40 40 50 60 70 80 80 90 100 Carbon footprint of marine fuels is best judged on a well-to-wake basis (vis-a-vis tank-to-wake basis) Taking full lifecycle into account, (net) zero carbon fuels such as green ammonia and green methanol vastly outperform conventional fuels on carbon footprint basis FuelEU Maritime Clear requirements to limit GHG intensity in or between EU ports (2% y 2025, 6% by 2030 and 80% by 2050) Driving significant further upside for the use of methanol / ammonia as marine fuels which will enable shipowners to reach their FuelEU goals at fleet level Source: Company Information, Fuel EU Maritime Notes (1) Bio-Methanol and E-Methanol numbers based on early stage LCA calculations (2) E- Ammonia is based on 80% GHG reduction vs the fossil comparator (3) Default values used for conventional fuels as per FuelEUMartime 29#30Appendix OCI Global 30#31Q3 2023 Results Global OCIGI Summary Strong operational performance across the platform Own product sales volumes were 2.8 million metric tons during Q3 2023, increased 8% YoY: Total own-produced nitrogen product sales volumes increased 4% compared to Q3 2022 Total own-produced methanol sales volumes increased 35% compared to Q3 2022 Gross profit Gross profit margin Adjusted EBITDA Basic earnings per share Summary of Q3 2023 performance: ➤ Q3 2023 revenues decreased 54% to $1.1 billion, adjusted EBITDA decreased 75% to $242 million YoY, mostly due to lower selling prices and offsetting an 8% increase in own-produced volumes Adjusted net loss was $95 million in Q3 2023, versus adjusted net profit of $257 million in Q3 2022 9M 2023 revenues were $3.8 billion, adjusted EBITDA $904 million and adjusted net loss $117 million Reported Operating Free Cash Flow was negative $3 million in Q3 2023, with no minority distributions Net debt was $2.3 billion at 30 September 2023, with consolidated net leverage of 1.5x Key Financials¹ and KPIs $ million unless otherwise stated Revenue Q3'23 Q3 '22 % A 9M '23 9M '22 1,068.9 2,330.4 (54%) 3,812.3 7,515.9 % A (49%) 173.9 871.3 (80%) 570.8 2,904.2 (80%) 16.3% 37.4% 15.0% 38.6% 242.0 961.8 (75%) 903.8 3,221.8 (72%) EBITDA 229.8 944.5 (76%) 740.4 EBITDA margin 21.5% 40.5% 19.4% 3,109.4 41.4% (76%) Adjusted net profit/(loss) attributable to shareholders (95.2) 257.1 (137%) (116.9) 1,138.8 (110%) Reported net profit/(loss) attributable to shareholders (117.9) 316.4 (137%) (280.0) 1,202.8 (123%) Earnings per share ($) (0.560) Diluted earnings per share (0.560) 1.495 1.503 (137%) (1.330) (137%) (1.330) 5.721 (123%) 5.689 (123%) Adjusted earnings per share (0.452) 1.223 (137%) (0.555) 5.417 (110%) Capital expenditure 203.5 123.7 65% 530.6 249.2 113% Of which: Maintenance Capital Expenditure Free cash flow 112.0 72.9 54% 277.0 162.2 71% (3.1) 392.3 (101%) (74.2) 1,930.0 (104%) 30-Sep-23 31-Dec-22 %A Total Assets 9,466.7 9,771.1 (3%) Gross Interest-Bearing Debt Net Debt 4,019.2 2,875.7 40% 2,325.8 1,158.7 101% Q3'23 Q3 '22 %A 9M '23 9M '22 % A Sales volumes ('000 metric tons) OCI Product Sold¹ Third Party Traded Total Product Volumes 2,792.5 393.8 3,186.3 2,595.1 8% 1,140.5 3,735.6 8,141.4 (65%) 1,763.9 (15%) 9,905.3 11,140.2 8,245.1 (1%) 2,895.1 (39%) (11%) (1) Unaudited. (2) OCI presents certain financial measures when discussing OCI's performance, that are not measures of financial performance under IFRS. These non-IFRS measures of financial performance (also known as non-GAAP or alternative performance measures) are presented because management considers them important supplemental measures of OCI's performance and believes that similar measures are widely used in the industry in which OCI operates. (3) Free cash flow is an APM that is calculated as cash from operations less maintenance capital expenditures less distributions to non-controlling interests plus dividends from equity accounted investees, and before growth capital expenditures and lease payments. (4) Fully consolidated, not adjusted for OCI proportionate ownership stake in plants, except OCI's 50% share of Natgasoline volumes. 31#32Sales Volumes by Segment (1/2) '000 metric tons Nitrogen US¹ Own Product Ammonia Urea UAN DEF Traded Third Party Ammonia Urea UAN AS DEF Total Nitrogen EU¹ OCI Global Q1'23 Q2'23 Q3'23 Q1'22 Q2'22 Q3'22 Q4'22 FY 2022 415 681 454 502 593 494 676 16 65 25 4 47 6 89 2,265 146 42 23 26 12 10 7 10 38 182 411 219 260 319 262 323 1,164 175 181 185 226 218 219 254 917 193 473 160 336 405 528 229 1,498 11 57 16 5 34 43 33 116 98 274 30 226 194 264 67 751 16 6 12 45 62 24 142 15 50 17 8 21 26 15 69 52 85 97 85 111 133 90 419 608 1,154 614 838 999 1,022 904 3,763 Own Product 249 527 382 462 Ammonia 44 103 76 CAN 177 345 212 291 UAN 18 62 77 Melamine 10 18 17 Traded Third Party 72 70 95 ུ☁ཧྨ #8 511 336 323 1,633 70 97 70 74 312 277 236 214 1,019 107 15 28 219 30 15 7 84 184 214 164 660 UAN AS Total Fertiglobe² Own Product 36 25 15 13 14 64 98 188 36 45 80 87 170 150 66 473 321 598 477 561 695 550 487 2,293 Ammonia Urea DEF Traded Third Party Ammonia Urea Total 1,363 1,414 1,470 1,254 1,541 1,364 1,272 5,431 236 290 323 223 357 321 325 1,227 1,127 1,117 1,144 1,031 1,183 1,042 947 4,204 7 3 165 134 23 276 236 321 200 1,033 31 64 15 52 27 120 44 242 134 70 8 224 209 202 156 791 1,528 1,548 1,492 1,530 1,777 1,685 1,472 6,464 (1) Nitrogen US and EU Traded Volumes Q3 and Q4 2022 have been restated (2) Fertiglobe Segment includes volumes after IC elimination 32#33OCI Global Sales Volumes by Segment (2/2) '000 metric tons Methanol¹ Own Product Ammonia² Methanol Traded Third Party Methanol Ethanol & Other Total Q1'23 Q2'23 Q3'23 Q1'22 Q2'22 Q3'22 Q4'22 FY 2022 247 501 503 370 417 401 369 1,557 25 99 75 89 47 84 83 302 222 402 429 282 370 317 286 1,255 143 119 116 144 74 78 109 405 130 96 86 144 74 64 99 381 14 23 30 14 10 23 390 620 619 514 491 478 478 1,962 IC Elimination for Downstream Production³ Own Product Ammonia Total Own Product Total Traded Third Party (47) (16) (47) (16) Total Own Product and Traded Third Party 2,274 574 2,847 3,075 2,793 2,588 796 3,872 394 3,186 855 3,443 3,061 900 3,962 2,595 1,141 2,641 701 10,886 3,596 3,736 3,341 14,482 (1) Methanol Segment consists of European and US operations (2) Ammonia volumes produced at OCI Beaumont (3) IC sales volumes from Fertiglobe and US operations used for downstream production at the European plant (previously captured within Segments) 33#34Reconciliation of Adjusted EBITDA and Adjusted Net Income Reconciliation of Reported Operating Income to Adjusted EBITDA million Operating profit as reported Depreciation, amortization and impairment EBITDA APM adjustments for: Natgasoline Unrealized result natural gas hedging Unrealized result EUA derivatives Provisions & other Total APM adjustments at EBITDA level Adjusted EBITDA Q3 '23 Q3 '22 Comment 64.5 803.2 165.3 141.3 229.8 944.5 0.8 (24.8) 24.8 (26.8) 21.5 36.2 (2.2) 12.2 17.3 242.0 961.8 OCI's share of Natgasoline EBITDA (Gain)/loss at OCIB, IFCO and the Netherlands (Gain)/loss at OCIN Global OCIGI Reconciliation of Reported Net Profit / (Loss) to Adjusted Net Profit / (Loss) $ million Reported net profit / (loss) attributable to shareholders Q3 '23 (117.9) Q3 '22 316.4 Adjustment in P&L Adjustments for: Adjustments at EBITDA level Add back: Natgasoline EBITDA adjustment 12.2 (0.8) Result from associate (unrealized gas hedging) Forex (gain) loss on USD exposure 3.4 (14.9) Expenses related to refinancing Accelerated depreciation and impairments of PP&E 1.3 0.4 17.3 (24.8) (6.2) (8.6) (Gain)/loss at Natgasoline Finance income/expense - Finance expense Depreciation & impairment Derecognition of deferred tax asset 12.6 Non-controlling interests adjustment Other adjustments Tax effect of adjustments Total APM adjustments at net profit / (loss) level Adjusted net profit / (loss) attributable to shareholders 6.2 (34.1) (22.5) Income tax Minorities Finance income & expense / uncertain tax positions 2.7 19.2 Income tax 22.7 (59.3) (95.2) 257.1 34#35Financial Statements - Income Statement $ millions Revenue Cost of sales Gross profit Other income Selling, general and administrative expenses Other expenses Operating profit Finance income Finance cost Net finance cost Share of results of equity-accounted investees Profit before income tax Income tax Net profit/(loss) Other comprehensive income: Items that are or may be reclassified subsequently to profit or loss Movement in hedge reserve Movement in hedge reserve equity-accounted investees Three-month period Three-month period Nine-month period OCIGI Global Nine-month period Note (15) (12) ended 30 September 2023 ended 30 September 2022 ended 30 September 2023 ended 30 September 2022 1,068.9 (895.0) 2,330.4 (1,459.1) 3,812.3 (3,241.5) 7,515.9 (4,611.7) 173.9 871.3 570.8 2,904.2 1.1 23.5 8.0 30.0 (12) (91.5) (91.6) (268.5) (258.6) (19.0) (37.3) 64.5 803.2 273.0 2,675.6 11 (13) (46.7) 58.5 95.6 246.9 (13) (13.4) (134.4) (269.9) (390.7) (60.1) (75.9) (174.3) (143.8) (35.2) 5.7 (62.0) 66.8 (30.8) 733.0 36.7 2,598.6 (14) (43.9) (139.6) (96.8) (418.2) (74.7) 593.4 (60.1) 2,180.4 (4.7) (52.4) (4.6) (27.4) (0.5) (0.9) Currency translation differences 9.7 29.0 32.7 (56.2) Currency translation differences from equity-accounted investees (1.0) (2.9) (0.3) (6.3) Items that will not be reclassified to profit or loss Changes in the fair value of financial assets at fair value through other comprehensive income Other comprehensive income, net of tax (5.1) (0.7) (9.7) 2.6 (1.6) (27.0) 17.2 (87.3) Total comprehensive income (76.3) 566.4 (42.9) 2,093.1 Net profit/(loss) attributable to owners of the Company (117.9) 316.4 (280.0) 1,202.8 Net profit/(loss) attributable to non-controlling interests Net profit/(loss) Total comprehensive income attributable to owners of the Company Total comprehensive income attributable to non-controlling interests Total comprehensive income Basic earnings per share (in USD) Diluted earnings per share (in USD) 43.2 277.0 219.9 977.6 (74.7) 593.4 (60.1) 2,180.4 (112.9) 269.6 (271.2) 1,123.9 36.6 296.8 228.3 969.2 (76.3) 566.4 (42.9) 2,093.1 (0.560) 1.503 (1.330) 5.721 (0.560) 1.495 (1.330) 5.689 35#36Financial Statements - Cash Flow Statement (1/2) Three-month period Three-month period Nine-month period OCIG Global Nine-month period ended 30 September 2023 ended 30 September 2022 ended 30 September 2023 ended 30 September 2022 $ millions Net profit/(loss) Adjustments for: Depreciation, amortization and impairment Interest income Interest expense Net foreign exchange (gain) / loss and others Share of results of equity-accounted investees Equity-settled share-based payment transactions Impact difference in profit-sharing non-controlling interests Income tax expense Changes in: Inventories Trade and other receivables Trade and other payables Provisions Cash flows: Interest paid Note (74.7) 593.4 (60.1) 2,180.4 (12) 165.3 141.3 467.4 433.8 (13) B6 (13) (6.0) (18.5) (34.9) (29.6) 66.8 48.9 178.7 206.4 (13) (0.7) 45.5 30.5 (33.0) 35.2 (5.7) 62.0 (66.8) 3.1 2.0 8.5 6.4 7.4 75.3 29.8 229.4 (14) 14 43.9 139.6 96.8 418.2 (8.3) (185.7) 112.8 (342.4) (14.8) (82.6) 157.9 (82.6) (11) (16) GE (88.2) 161.1 (245.1) 185.1 4.3 (5.2) 8.9 (14.0) (60.4) (29.1) (140.0) (97.8) Lease interest paid (2.7) (2.0) (7.8) (6.1) Interest received 5.9 3.3 17.3 4.3 Settlement interest derivatives 20.0 24.4 Income tax paid (14) (16.6) (39.0) (62.5) (178.5) Withholding tax paid on subsidiary dividends (14) (20.5) (15.1) Cash flow from operating activities 59.5 862.6 599.7 2,822.5 Investments in property, plant and equipment and intangible fixed assets (8) (203.5) (123.7) (530.5) (249.2) Proceeds from sale of property, plant and equipment (8) 1.1 2.3 Dividends from equity-accounted investees 0.4 1.2 1.8 Investment in financial assets Cash flow used in investing activities (9.0) (202.4) (123.3) (536.0) (247.4) 36#37Financial Statements - Cash Flow Statement (2/2) $ millions Note Three-month period Three-month period Nine-month period OCIG Global Nine-month period ended 30 September 2023 ended 30 September 2022 ended 30 September 2023 ended 30 September 2022 Cash flow used in investing activities Proceeds from borrowings Repayment of borrowings Payment of lease obligations Purchase of treasury shares (10) (10) (202.4) 316.8 (123.3) (536.0) 43.3 1,493.2 (247.4) 882.3 (117.1) (4.9) (342.3) (1,516.4) (15.1) (10.2) (40.7) (29.9) (0.2) Newly incurred transaction costs / call premium (10) 0.8 (13.4) (51.2) Distributions paid to owners of the Company - (814.2) (320.4) Withholding tax on dividends to owners of the Company (2.2) (2.2) Dividends paid to non-controlling interests (383.3) (412.6) (685.0) Proceeds from the sale of shares in OCI Methanol Group 375.0 Fees related to the sale of shares in OCI Methanol Group Settlement FX derivatives (1.3) (13) 1.2 (5.2) 17.6 (6.0) Cash flows used in financing activities Net cash flow Net increase in cash and cash equivalents Cash and cash equivalents at start of period Effect of exchange rate fluctuations on cash held Cash and cash equivalents at end of period Cash and cash equivalents in statement of financial position Bank overdraft repayable on demand Cash and cash equivalents in statement of cash flows 185.8 (361.7) (112.4) (1,355.3) 42.9 377.6 (48.7) 1,219.8 42.9 377.6 (48.7) 1,219.8 1,639.2 1,996.5 1,717.0 1,197.3 (18.4) 6.5 (4.6) (36.5) 1,663.7 2,380.6 1,663.7 2,380.6 1,693.4 2,380.6 1,693.4 2,380.6 (29.7) (29.7) 1,663.7 2,380.6 1,663.7 2,380.6 37#38Flexible Production Capabilities to Maximize Returns Max. Proven Capacities¹ ('000 metric tons) Global OCIGI Total Total Total² Plant Country Ammonia (Gross) Ammonia (Net)³ Urea UAN CAN Fertilizer Melamine4 DEF Nitrogen Methanol OCI NV Iowa Fertilizer Company USA 926 195 438 1,832 2,465 1,019 3,483 3,483 OCI Nitrogen5 Netherlands 1,199. 350 Egyptian Fertilizers Company Egypt 887 | 1,679 730 1,560 2,640 222 1,679 2,862 2,862 350 2,029 2,029 Egypt Basic Industries Corp. Egypt 748 748 748 Sorfert Algérie Algeria 1,606 803 1,259 2,062 I I 748 748 2,062 2,062 Fertil OCI Beaumont BioMCN6 Natgasoline LLC Total MPC Excluding 50% of Natgasoline Total MPC with 50% of Natgasoline UAE 1,228 USA 365 365 Netherlands USA 2,245 2,245 100 2,345 365 2,345 365 982 1,347 991 991 1,807 1,807 6,959 2,461 5,621 2,562 1,560 12,204 222 1,469 13,894 3,780 17,674 (903) (903) 6,959 2,461 5,621 2,562 1,560 12,204 222 1,469 13,894 2,876 16,771 (1) Capacities are maximum proven capacities (MPC) per line at 365 days. OCI Beaumont's capacity addition is an estimate of 2,690 tpd x 365 and BioMCN's M2 capacity is an estimate based on 1,250 tpd x 365 days; (2) Total capacity is not adjusted for OCI's ownership stakes or downstream product mix limitations (see below), except OCI's 50% stake in Natgasoline; (3) Net ammonia is estimated sellable capacity based on a certain product mix; (4) Melamine capacity split as 166 ktpa in Geleen and 55 ktpa in China. OCI Nitrogen owns 49% of a Chinese melamine producer, and exclusive right to off-take 90%; (5) OCI Nitrogen and IFCO each cannot achieve all downstream production simultaneously (i.e.: OCI Nitrogen cannot maximize production of UAN, CAN and melamine simultaneously, and IFCO cannot maximize production of UAN, urea and DEF simultaneously); (6) BioMCN plant is down due to high gas price environment 38#39OCI Global OCI Global 39