Decarbonizing Maritime Transport

Low carbon attractiveness of green ammonia and methanol by 2050 will drive adoption of grey and blue demand in the 2020s • EASTERN PACIFIC SHIPPING Illustrative adoption of ammonia and methanol in shipping 1. Green Methanol Ammonia Blue/Bio Grey Grey 2020 Adoption phase Assumed all marine oil uptake would be heavy fuel oil 2030 2040 2050 Decarbonizing phase OCI 1. 2. Lower end when burned in more efficient fuel cell, higher end of the range when burned in ICE HARTMANN GROUP THE RIGHT COURSE. WORLDWIDE. GasChem Services [MAN] MAN Energy Solutions OCI has signed MOUs to create a marine value chain and start the commercialization of ammonia and methanol as shipping fuels by 2023/24 OCI, MAN Energy Solutions (MAN) and Hartmann Group ○ Already introduced a methanol-burning two-stroke engine 2. ○ Expect to deliver the first ammonia-fueled engine by 2024 OCI, Eastern Pacific Shipping (EPS) and MAN o Retrofitting of existing vessels from EPS' fleet to methanol and ammonia and new-build methanol and ammonia-fueled vessels o Methanol is a liquid and is interchangeable with most refined products making its adoption seamless with existing bunkering infrastructure o OCI intends to charter the first retrofitted methanol fueled vessel using in-service MAN engines and technology in the next 2 years Maersk announced methanol/ammonia as fuels with the intention of introducing a methanol powered ship by 2025 and ammonia thereafter DFDS, CMB and Viking Cruises, Trafigura, and Transport & Environment announced green hydrogen and ammonia as sustainable products which can be produced in sufficient quantities to decarbonise the industry, adding that biofuels do not offer a sustainable alternative for shipping MAERSK > DFDS CMB TRAFIGURA GROUP VIKING 34

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