OCI N : NV Q4 2021 Results Presentation

Full Year and Q4 2021 Results Presentationxx

14 February 2022

Disclaimer

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. The unauthorized disclosure of this Presentation or any information contained in or relating to it or any failure to comply with the above restrictions may constitute a violation of applicable laws. At any time upon the request of the Company the recipient must return all copies of this Presentation promptly.

The information contained in this Presentation has not been independently verified and no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness, reasonableness or correctness of the information or opinions contained herein. Neither the Company nor any of its holding companies, subsidiaries, associated undertakings, controlling persons, shareholders, respective directors, officers, employees, agents, partners or professional advisors shall have any liability whatsoever (in negligence or otherwise) for any direct, indirect or consequential loss howsoever arising from any use of this Presentation or otherwise arising in connection with this Presentation. The information contained in this Presentation is provided as at the date of this Presentation and is subject to change without notice and the Company expressly does not undertake and is not obliged to review, update or correct the information at any time or to advise any participant in any related financing of any information coming to the attention of the Company.

The information in this Presentation does not constitute investment, legal, accounting, regulatory, taxation or any other advice, and this Presentation does not take into account your investment objectives or legal, accounting, regulatory, taxation or financial situation or other needs. You are solely responsible for forming your own opinions and conclusions on such matters and for making your own independent assessment of the Presentation.

This Presentation does not purport to contain all information that may be required by any party to assess the Company and its subsidiaries and affiliates, its business, financial condition, results of operations and prospects for any purpose. This Presentation includes information the Company has prepared on the basis of publicly available information and sources believes to be reliable. The accuracy of such information has been relied upon by the Company, and has not been independently verified by the Company. Any recipient should conduct its own independent investigation and assessment as to the validity of the information contained in this Presentation, and the economic, financial, regulatory, legal, taxation and accounting implications of that information.

Statements made in this Presentation may include forward-looking statements. These statements may be identified by the fact that they use words such as "anticipate", "estimate", "should", "expect", "guidance", "project", "intend", "plan", "believe", and/or other words and terms of similar meaning in connection with, among other things, any discussion of results of operations, financial condition, liquidity, prospects, growth, strategies or developments in the industry in which the Company and its subsidiaries operate. Such statements are based on management's current intentions, expectations or beliefs and involve inherent risks, assumptions and uncertainties, including factors that could delay, divert or change any of them. Forward-looking statements contained in this Presentation regarding trends or current activities should not be taken as a representation that such trends or activities will continue in the future. Actual outcomes, results and other future events may differ materially from those expressed or implied by the statements contained herein. Such differences may adversely affect the outcome and financial effects of the plans and events described herein and may result from, among other things, changes in economic, business, competitive, technological, strategic or regulatory factors and other factors affecting the business and operations of the company. Neither the Company nor any of its affiliates is under any obligation, and each such entity expressly disclaims any such obligation, to update, revise or amend any forward- looking statements, whether as a result of new information, future events or otherwise. You should not place undue reliance on any such forward-looking statements, which speak only as of the date of this Presentation. The Company does not: (i) accept any liability in respect of any forward-looking statements; or (ii) undertake to review, correct or update any forward-looking statement whether as a result of new information, future events or otherwise. It should be noted that past performance is not a guide to future performance. Interim results are not necessarily indicative of full-year results.

Certain data included in the Presentation are "non-IFRS" measures. These non-IFRS measures may not be comparable to similarly titled financial measures presented by other entities, nor should they be construed as an alternative to other financial measures determined in accordance with International Financial Reporting Standards or any other generally accepted accounting principles. Although the Company believes these non-IFRS financial measures provide useful information to users in measuring the financial performance and condition of its business, users are cautioned not to place undue reliance on any non-IFRS financial measures and ratios included in this Presentation.

Each recipient should be aware that some of the information in this Presentation may constitute "inside information" for the purposes of any applicable legislation and each recipient should therefore take appropriate advice as to the use to which such information may lawfully be put.

The distribution of this Presentation in certain jurisdictions may be restricted by law. Persons into whose possession this Presentation comes are required to inform themselves about and to observe any such restrictions. No liability to any person is accepted by the Company, including in relation to the distribution of the Presentation in any jurisdiction.

Transformational Year Reaping the Rewards of our Growth

Strategy and Competitive Business Model

Adjusted EBITDA of $1.0 billion in Q4 2021 (+291%) and $2.5 billion (+191%) for 2021

Net debt declined to $2.2 billion as of 31 December 2021, down from $3.0 billion at 30

September 2021. Trailing net debt / adjusted EBITDA was 0.9x as of 31 December 2021

Outlook: Expect a further substantial reduction in net debt during Q1 2022. Expect H1 2022 also to be strong driven by our healthy order book, attractive farm economics for fertilizers, strong demand in industrial end markets, and advantaged feedstock costs in MENA and US

New capital returns policy which combines a consistent base profit distribution to shareholders of $400 million per year with a variable component linked to FCF. OCI announces a semi-annual interim distribution for the period H2 2021 of €1.45 per share (or c.$350 million including a $200 million base)

OCI signed definitive agreements for a strategic alliance with ADQ and Alpha Dhabi

Holding, to acquire a 15% stake in the OCI Methanol Group for $375 million, enabling the

Group to pursue growth initiatives in hydrogen-based applications, including fuel

In January 2022, Fertiglobe announced a partnership with Masdar and ENGIE to study development of a globally cost-competitivegreen hydrogen facility with capacity of up to 200MW for ammonia production in Abu Dhabi

34

Table of Contents

H2

FY and Q4 2021	Market Outlook	Capitalizing on the	Appendix
Financial		Hydrogen
	Opportunity
Performance

4

Safety First: Commitment to zero injuries

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

		Conversion into FCF
		Q4 2019
Total TRIR (Total Recordable Injury Rate)	1,2	End-2019
	Target zero injuries at all facilities

0.5	2021 Performance

0.4

0.3

0.2

• Goal to achieve leadership in safety and health standards by fostering culture of zero injuries at all production facilities
• OCI has achieved some of the lowest numbers in our global industry in the past 12 months
• 12-monthrolling recordable incident rate at the end of December 2021 was 0.35 incidents per 200,000 manhours, compared to 0.38 and 0.36 in 2020 and 2019 respectively

0.1

0.0

Jan-19Apr-19Jul-19Oct-19Jan-20Apr-20Jul-20Oct-20Jan-21Apr-21Jul-21Oct-21Dec-21

(1) Includes both employees and contractors. (2) Per 200,000 hours worked	5