Fertiglobe Financial Overview

Nitrogen Outlook Supported by Attractive Supply-Demand Dynamics Supporting Strong Pricing Outlook For H2 2022 and Beyond as We Recover From a 5-year Downturn Bull Market Drivers Support Demand Driven Environment CROP PRICES DRIVING HEALTHY FARM ECONOMICS AND NITROGEN DEMAND Corn Futures >$5/bushel and Wheat Futures >$7/bushel supportive of affordability Grain stocks to use ratios at decade lows, requiring at least until 2024 to replenish Prior cycle (last 5-6 years) 30% corn stocks-to-use ratio $3.7/bushel average corn price 2015-2019 Next cycle (starting in 2022)(2) 26% corn stocks-to-use ratio $6.5/bushel corn futures 2022 - 2024 ㄓ Fertiglobe GAS AND COAL PRICES RESET AT HIGH LEVELS Feedstock pricing has support to remain well above historical averages given tight supply fundamentals and limited Russian gas flows which cannot be made up with incremental LNG volumes given capacity and logistics bottlenecks $5/MMBtu TTF (Dutch natural gas hub) $35/MMBtu TTF to end 2024(1) TIGHTENING NITROGEN MARKET BALANCES New urea capacity is limited, faces delays and accelerating Chinese closures Structurally tighter merchant ammonia market with limited net capacity additions 23mt new urea capacity vs. 17mt demand growth over 2015 2019 11mt new urea capacity vs. 16mt demand growth over 2022 2026 ENVIRONMENTAL FOCUS DRIVES SHIFT FROM GREY TO GREEN Stricter mandates around environment regulations are barriers to enter this industry Global push to move towards H₂ economy adds incremental low-carbon ammonia demand Wave of "grey" greenfield capacity additions in US, Europe, MENA Limited new grey ammonia capacity from established producers and significant new ESG driven ammonia demand by 2025 Source: Company Information, CRU, Industry Reports, Hydrogen Council Note: (1) Average TTF from Nov-22 to Dec-24 An ADNOC and OCI Company (2) Expected figures 14

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