28 March 2023

OCI Responds to Letter from its Second Largest Shareholder, Inclusive Capital Partners

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OCI Global (Euronext: OCI), a global producer and distributor of hydrogen products providing fertilizers, fuels, and feedstock to agricultural, transportation, and industrial customers around the world, acknowledges the receipt of a letter from Inclusive Capital Partners (In-Cap). In-Cap currently owns 5% of the outstanding shares of OCI Global.

The letter states that OCI is trading at a significant discount to its intrinsic value, despite strong incumbent positions in two markets (ammonia / nitrogen fertilizers and (bio)methanol), and commends the company’s leadership in driving the energy transition to decarbonize ammonia and methanol-based fuels. In-Cap therefore asks to explore strategic options to best unlock and pursue value creation.

OCI has always been focused on value creation for all stakeholders. We welcome the dialogue with our shareholders, and will evaluate the merits of the views and ideas of our stakeholders, including In-Cap.

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