OCI Global Completes Sale of Clean Ammonia to Woodside

The Clean Ammonia closing marks a significant milestone in OCI's strategic value creation journey. The expected cumulative crystallization of approximately USD 11.6 billion gross cash proceeds from the recently announced sales of Fertiglobe, IFCO, OCI Clean Ammonia and OCI Methanol affords OCI significant flexibility to deliver on OCI's capital allocation priorities, including deleveraging at a gross level as well as returning a meaningful quantum of capital to shareholders.

Commenting on today's announcement, Nassef Sawiris, Executive Chairman of OCI said: "The successful closing of the Clean Ammonia transaction further reinforces OCI's serial commitment to creating value for its shareholders and exemplifies its pioneering spirit. Looking ahead, we will continue to explore value accretive investment opportunities where we can successfully deploy our extensive knowledge, deep operational expertise, and entrepreneurial heritage."

^[1] Production of lower carbon ammonia is conditional on supply of carbon abated hydrogen and ExxonMobil's CCS facility becoming operational.

Advisors

Morgan Stanley & Co. International plc is serving as financial advisor to OCI on the Transaction. A&O Shearman and Vinson & Elkins are acting as OCI's legal advisors.

About OCI Global

We are a global leader in nitrogen, methanol, and hydrogen, driving forward the decarbonization of the energy-intensive industries that shape, feed and fuel the world. OCI's production capacity spans four continents and comprises approximately 13.5 million metric tons per year of hydrogen-based products including nitrogen fertilizers, methanol, biofuels, diesel exhaust fluid and melamine. OCI is headquartered in the Netherlands and listed on Euronext in Amsterdam.

Learn more about OCI at www.oci-global.com. You can also follow OCI on LinkedIn.

Contact Details

Sarah Rajani CFA, Global Vice President Investor Relations and Communications
Email: [email protected] 

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