Slide 1: Fertiglobe Corporate Update
Fertiglobe Corporate Update September 2021
Slide 2: Legal Disclaimer
Legal Disclaimer IMPORTANT: Please read the following before continuing. The following applies to this document, which has been prepared by Fertiglobe plc (the “Company”) solely for discussion and feedback purposes in relation to the Company and its subsidiaries (together, the “Group”) (the “Informa
Slide 3: Introduction to Fertiglobe
Section 1 Introduction to Fertiglobe
Slide 4: Fertiglobe at a Glance
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Fertiglobe at a Glance(1) Leading Nitrogen Fertilizer Exporter Globally and Unique Ammonia Platform(2)
Slide 5: A Strategic Partnership With Strong Shareholder Support
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure A Strategic Partnership With Strong Shareholder Support Partnership Geared Towards Growth and Value Cr
Slide 6: Pursuing Sustainability Leadership in the MENA Region
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Pursuing Sustainability Leadership in the MENA Region ESG Focus Premised on Capturing Value, in Line w
Slide 7: Fertiglobe's Next Phase of Value Creation
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Fertiglobe’s Next Phase of Value Creation Major value creation Fertiglobe is starting the next phase o
Slide 8: Key Fertiglobe Highlights
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Key Fertiglobe Highlights 1 Leading nitrogen fertilizer exporter globally and unique ammonia platform
Slide 9: Leading Nitrogen Fertilizer Exporter Globally and Unique Ammonia Platform
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Leading Nitrogen Fertilizer Exporter Globally and Unique Ammonia Platform 1 ~10% of Combined Ammonia a
Slide 10: Strategically Located Asset Base and Global Distribution Platform
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Strategically Located Asset Base and Global Distribution Platform 2 Diversified Production Footprint i
Slide 11: Structurally Higher Realised Net-backs Relative to Other Exporting Regions
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Structurally Higher Realised Net-backs Relative to Other Exporting Regions 2 Low-freight Costs, Duty-f
Slide 12: High Quality Asset Base with 50% of Capacity Younger than 10 Years
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure High Quality Asset Base with 50% of Capacity Younger than 10 Years 3 Young Asset Base Drives Output, C
Slide 13: Fertiglobe Positioned in the 1st Quartile of Urea and Ammonia Cost Curves
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Fertiglobe Positioned in the 1st Quartile of Urea and Ammonia Cost Curves 3 Fertiglobe Benefits From A
Slide 14: Structural Shift into a Demand-Driven Pricing Environment
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Structural Shift into a Demand-Driven Pricing Environment(1) 4 Strong Support for Current Nitrogen Pri
Slide 15: Significant Incremental Ammonia Demand from New Clean Energy Applications
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Significant Incremental Ammonia Demand in the Medium-Term from New Clean Energy Applications 4 Clean H
Slide 16: Fertiglobe Has a Multi-Pronged Growth Strategy
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Fertiglobe Has a Multi-Pronged Growth Strategy 5 Best Positioned Across All Metrics to Capitalize on G
Slide 17: Strong Revenue Profile Translating Into Robust EBITDA and Cash Flow
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Strong Revenue Profile Translating Into Robust EBITDA and Cash Flow Generation Through Low Capex 6 EBI
Slide 18: Nitrogen Fertilizer Market Dynamics
Section 2 Nitrogen Fertilizer Market Dynamics
Slide 19: Nitrogen is Most Widely and Frequently Used Crop Nutrient Globally
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Nitrogen is Most Widely and Frequently Used Crop Nutrient Globally Broad Range of Applications in Addi
Slide 20: Nitrogen Outlook Supported by Attractive Supply-Demand Dynamics
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Nitrogen Outlook Supported by Attractive Supply-Demand Dynamics Supporting Strong Pricing Outlook For
Slide 21: Robust Agricultural Fundamentals Support Crop Prices
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Robust Agricultural Fundamentals Support Crop Prices Crop Prices Supported by “Stocks : Use” Ratio at
Slide 22: Attractive Nitrogen Dynamics with Demand Expected to Exceed Capacity Additions
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Attractive Nitrogen Dynamics with Demand Expected to Exceed Capacity Additions Ex-China Urea Capacity
Slide 23: Rising Feedstock Costs for Marginal Producers Support Nitrogen Prices
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Rising Feedstock Costs for Marginal Producers Support Nitrogen Prices Recovery in gas prices has bee
Slide 24: Structural Shift Into A Demand-Driven Pricing Environment
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Structural Shift Into A Demand-Driven Pricing Environment(1) Strong Support for Current Nitrogen Price
Slide 25: Hydrogen and Clean Ammonia Potential
Section 3 Hydrogen and Clean Ammonia Potential
Slide 26: Hydrogen Critical to Achieve Carbon Neutrality
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Hydrogen Critical to Achieve Carbon Neutrality Governments have set Targets for the 1.5-20C Pathway, R
Slide 27: Ammonia is Well Positioned to Capture the Hydrogen Opportunity
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Ammonia is Well Positioned to Capture the Hydrogen Opportunity With >40% of Grey Hydrogen Use Today, A
Slide 28: Ammonia is One of the Most Viable Fuels to Decarbonize the Maritime Sector
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Ammonia is One of the Most Viable Fuels to Decarbonize the Maritime Sector… Emissions, CO2 / MJ (indic
Slide 29: The Cheapest Zero-carbon Fuel for Container Ships in 2030
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure … And the Cheapest Zero-carbon Fuel for Container Ships in 2030(1) $m p.a. for Container Ship(2,3) and
Slide 30: Marine Fuel Represents a Substantial Market Opportunity for Fertiglobe
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Marine Fuel Represents a Substantial Market Opportunity for Fertiglobe Shipping Accounts for ~3% of GH
Slide 31: Unique Positioning in the Energy Transition Towards Clean Hydrogen
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Unique Positioning in the Energy Transition Towards Clean Hydrogen Existing Presence Across Value Chai
Slide 32: Fertiglobe is Plug-and-Play for Low Carbon Ammonia
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Fertiglobe is Plug-and-Play for Low Carbon Ammonia Huge Competitive Advantage in Low Carbon Ammonia Re
Slide 33: Fertiglobe Business and Growth Drivers
Section 4 Fertiglobe Business and Growth Drivers
Slide 34: Fertiglobe's Vision and Growth Strategy
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Fertiglobe’s Vision and Growth Strategy A Global Vision Nitrogen Powerhouse Well Positioned to Capture
Slide 35: Fertiglobe is Committed to Maintaining the Highest Safety Standards
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Fertiglobe is Committed to Maintaining the Highest Safety Standards Total TRIR (Total Recordable Injur
Slide 36: Operational Excellence Program is Founded on 3 Key Pillars
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Fertiglobe’s Operational Excellence Program is Founded on 3 Key Pillars Implementing Continuous Improv
Slide 37: Ability to Achieve Incremental Production Capacity at Low Cost
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Ability to Achieve Incremental Production Capacity at Low Cost Through Capacity Optimization Projects
Slide 38: Building the Leading Global Marketing Platform in Nitrogen Fertilizers
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Fertiglobe is Building the Leading Global Marketing Platform in Nitrogen Fertilizers Further maximizin
Slide 39: Distribution Reach in 34+ Countries with Established Logistics
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Distribution Reach in 34+ Countries with Established Logistics for Export at Each Site with Extensive
Slide 40: Fertiglobe Best Positioned to Cater to High Growth Nitrogen Markets
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Fertiglobe Best Positioned to Cater to High Growth Nitrogen Markets Merchant Ammonia and Urea Traded M
Slide 41: Fertil Blue Ammonia Project
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Fertil Blue Ammonia Project Fertiglobe’s First Shipments of Blue Ammonia Represent a Milestone in the
Slide 42: World-Scale Blue Ammonia Project in Abu Dhabi
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure World-Scale Blue Ammonia Project in Abu Dhabi Allowing Fertiglobe to be an Early Mover in Blue Ammonia
Slide 43: EBIC Green Ammonia Study
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure EBIC Green Ammonia Study On a Global Level, Renewable Energy Resources are Pilot project in concept
Slide 44: Fertiglobe Clean Ammonia Execution Roadmap
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Fertiglobe Clean Ammonia Execution Roadmap ✓ ✓ Q2 2021 Announcement Q3 2021 FID Blue Abu-Dhabi Blue of
Slide 45: Financial Overview
Section 5 Financial Overview
Slide 46: Fertiglobe Financials – Basis of Preparation
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Fertiglobe Financials – Basis of Preparation Fertiglobe’s consolidated financial statements have bee
Slide 47: Fertiglobe's Financial Profile at an Inflection Point
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Fertiglobe’s Financial Profile at an Inflection Point Fertiglobe’s Financial Profile is Undergoing a S
Slide 48: Revenue Breakdown – Volumes and Product Prices
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Revenue Breakdown – Volumes and Product Prices The Strong Current Pricing Environment and Higher Produ
Slide 49: Costs Breakdown – Cost of Sales and SG&A
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Costs Breakdown – Cost of Sales and SG&A Fertiglobe is Deeply Cost Advantaged, Both with Respect to Fe
Slide 50: Fertiglobe Gas Contracts Overview
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Fertiglobe Gas Contracts Overview Attractively Priced Fixed Gas Contracts Ensure Fertiglobe is Competi
Slide 51: EBITDA – Sensitivity to Product Prices
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure EBITDA – Sensitivity to Product Prices Fertiglobe Has Profit Sharing Mechanisms that Provide the Egypt
Slide 52: Non-Controlling Interest – EBIC and Sorfert
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Fertiglobe Non-Controlling Interest – EBIC and Sorfert The portion of Fertiglobe’s adjusted EBITDA att
Slide 53: Tax Profile
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Tax Profile Fertiglobe Has a Preferential Tax Profile with a Low Combined Cash Income Tax Rate of ~11%
Slide 54: Capital Expenditure
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Capital Expenditure Given its Young, State-of-the-art, and Technically Optimized Asset Base With Unifo
Slide 55: Cash Flow Generation
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Cash Flow Generation Fertiglobe is Strongly Cash Generative, with an LFCF Conversion Rate of Around or
Slide 56: Capitalization Structure & Debt Facilities
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Fertiglobe Capitalization Structure & Debt Facilities Fertiglobe Has a Robust Balance Sheet with Suffi
Slide 57: Key Financial Policies
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Key Financial Policies The Company targets an investment grade credit profile Capital Structure Ma
Slide 58: Building Fertiglobe's Income Statement
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Building Fertiglobe’s Income Statement Perspectives on Fertiglobe’s EBITDA Components Observations T
Slide 59: Building Fertiglobe's Free Cash Flow
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Building Fertiglobe’s Free Cash Flow One of the Leading EBITDA Margins in the Industry … Perspectives
Slide 60: Management and Organizational Structure
Section 6 Management and Organizational Structure
Slide 61: Senior Leadership Team
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Senior Leadership Team Strong Management Team with Relevant Industry Experience Board of Directors Key
Slide 62: Functional Management Team
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Functional Management Team Strong Management Team with Relevant Industry Experience Key Management Gro
Slide 63: Recruitment, Personnel and Representation
Nitrogen Fertilizer Hydrogen and Clean Fertiglobe Business Management and Introduction to Fertiglobe Financial Overview Market Dynamics Ammonia Potential and Growth Drivers Organizational Structure Recruitment, Personnel and Representation Centralized Leadership with Well-staffed Local Management Te
Slide 64: Appendix Additional Materials
Appendix Additional Materials
Slide 65: Fertiglobe – Key Financials
Fertiglobe – Key Financials Fertiglobe’s Top Quartile Cost Positioning, Best-in-class Distribution Model, Coupled with Strong Industry Dynamics Underpin the Company’s Strong Performance in 2021. Fertiglobe’s Structural Advantages Position it to Deliver Consistent Performance over the Years Amounts i
Slide 66: Cash Flow Generation
Cash Flow Generation Cash Flow Generation (2020A – H1 2021A) (in $mn) 2020A LTM June 2021A H1 2020A H1 2021A (1) Adjusted EBITDA 453.3 780.8 204.7 532.2 (2) Cash Interest (62.9) (42.8) (38.7) (18.6) Cash Tax (20.6) (52.0) (3.7) (35.1) (3) Change in NWC 135.3 (13.6) 140.3 (8.6) Ecremage 17.4 37.2 13.