Decarbonizing Maritime Transport

DEF eliminates NO from diesel exhaust emissions and improves fuel Χ efficiency in SCR equipped engines¹ DEF demand is expected to grow by more than 15% per annum over the medium-term DEF is priced at a premium to urea and is one of OCI's fastest-growing products • Diesel Exhaust Fluid (DEF) is a combination of 32.5% urea and 67.5% de-ionized water • • • • OCI 1. DEF is used in Selective Catalytic Reduction engines (SCR) to reduce NOx and particulate emissions from diesel combustion Growth driven by regulations in the US and EU requiring replacement of older non-SCR-equipped vehicles, coupled with increased dosing rates in newer generation diesel engines DEF market in China has been growing rapidly on the back of strict environmental regulations on local air quality DEF is dosed at 2-6% of diesel consumption DEF has demonstrated a ~5% improvement in fuel economy and uses diesel fuel more efficiently DEF is Diesel Exhaust Fluid • 34% YoY growth in DEF volumes achieved in 2020 by N-7, marketing JV with Dakota Gasification that also has the offtake for Dyno Nobel's products a IFCO is ideally positioned geographically to transport DEF to key customers and can produce 1 million mtpa DEF own produced and traded volumes 2017 - 2020, Mt DEF N-7 JV volumes DEF total own product sold +48% 863 227 ୮ 582 73 275 636 14 509 261 7 2017 2018 OCI 2019 2020 DAKOTA Great GASIFICATION Plains COMPANY A BASIN ELECTRIC POWER COOPERATIVE SUBSIDIARY DYNO Dyno Nobel N7 IOWA FERTILIZER SINFUELS 12

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