• OCI Global announces successful completion of the sale of its 50% equity interest in Fertiglobe to Abu Dhabi National Oil Company
• The transaction was valued at USD 3.62 billion on a cash-free debt-free basis (the 'Purchase Price') and allows OCI to fully exit and monetize its entire equity stake in Fertiglobe
• The closing marks a significant milestone in OCI's strategy to unlock value for shareholders
• Mr. Ahmed El-Hoshy is re-appointed Chief Executive Officer of Fertiglobe effective 15 October 2024

AMSTERDAM, Oct. 15, 2024 /PRNewswire/ -- OCI Global (Euronext: OCI) ('OCI' or the 'Company'), a leading global producer and distributor of hydrogen products is pleased to announce the successful closing of the divestment of its entire 50% +1 share stake in Fertiglobe (ADX: FERTIGLB) ('Fertiglobe') to Abu Dhabi National Oil Company P.J.S.C. ('ADNOC'), following the satisfaction of all necessary legal and regulatory conditions, customary closing adjustments and receipt of OCI shareholder approval. Following completion of the transaction, ADNOC's shareholding in Fertiglobe has formally increased to 86.2% while the free float traded on the Abu Dhabi Securities Exchange ('ADX') remains at 13.8%. For more information on the transaction, reference is made to the press release published upon signing on 15 December 2023.

Fertiglobe's BoD has re-appointed Mr. Ahmed El-Hoshy to the role of Chief Executive Officer, effective 15 October 2024. Mr. El-Hoshy has been CEO of Fertiglobe since 2021, playing a critical role in preparing Fertiglobe for its IPO, successfully navigating commodity market cycles, and leading Fertiglobe's consolidation with ADNOC to create a global leader in low-carbon ammonia. Fertiglobe's wider executive leadership remains in place.