Fertiglobe Financial Overview

Profit Sharing Mechanisms - Sensitivity to Product Prices Fertiglobe Has Profit Sharing Mechanisms that Provide the Egyptian and Algerian Governments with Greater Income Participation as Product Pricing Increases (1) Illustrative Impact of Product Prices on Reported EBITDA 2021A +$100/t +$200/t +$300/t @ 2021A + Sensitized Pricing +$400/t +$500/t +$600/t +$700/t 12M Avg Urea Benchmark 530 630 730 830 930 1,030 1,130 1,230 Price (FOB Egypt, in $/t) 12M Avg Ammonia Benchmark Price 555 655 755 855 955 1,055 1,155 1,255 (FOB Black Sea, in $ /t) Gas Rates (2) (in $ / mmbtu) 3.3 3.7 4.1 4.5 4.8 5.2 5.6 5.9 EBITDA Sensitivity Revenue vs. Cost Increase (in $mn) 530 1,060 1,590 2,120 2,650 3,179 (135) (275) (416) (557) (698) (839) ■Additional revenue ■Additional cost 3,709 (980) $1,551 m Reported EBITDA Impact +$395 m +$784 m +$1,173 m +$1,562 m +$1,951 m +$2,340 m +$2,729 m (2021) Fertiglobe An ADNOC and OCI Company For a $100/t increase above 2021 urea/ammonia prices, everything else equal, Fertiglobe reported EBITDA increases by ~$350-400m Source: Company Information Note: (1) Egypt: natural gas arrangements include cost escalation factors above certain product benchmark levels. Impact of higher gas pricing above $4/mmbtu is significantly outweighed by the positive impact of higher revenue realized at such product pricing levels. Algeria: the partnership agreement with Sonatrach contains an incentive payment based on product prices driven formula, which is effectively a cost, compensating the Algerian state for Sorfert's competitive gas price. (2) Does not include take-or-pay costs and fixed costs 37

View entire presentation