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Oci Nv — Investor Presentation (June 2014)

37 slides from Oci Nv's investor presentation, June 2014

1. Slide 1: OCI N.V. Corporate Presentation

   OCI N.V. Corporate Presentation June 2014

2. Slide 2: Overview

   Overview Company Overview and History 3 FY 2013 Summary and Q1 2014 Trading Update 7 Fertilizer & Chemicals Group Highlights 12 Engineering & Construction Group Highlights 15 Strategy & Outlook 2014 - 2018 18 Appendix Company Overview 25 Additional Information on 2013 Results and Q1 Trading 30 2013

3. Slide 3: Company Overview

   Company Overview  Leading global natural gas-based fertilizer & chemicals producer and engineering & construction company OCI N.V.  Re-domiciled from Egypt to The Netherlands through an exchange and tender offer for Egypt-listed OCI S.A.E.  Employs approximately 72,000 people worldwide  Began tr

4. Slide 4: Business Segments

   Business Segments  Produces nitrogen fertilizers, methanol and other natural gas based products, serving agricultural and industrial customers from the Americas to Asia Fertilizer &  Production facilities in The Netherlands, USA, Egypt and Algeria Chemicals  Top 5 five global nitrogen-based ferti

5. Slide 5: Company History

   Company History  Established in the 1950s by Onsi Sawiris as a construction contractor in Egypt. 1950 - Present Construction  Developed into a leading industry player with a backlog of US$ 6.3 billion as at 30 June 2013 across the Middle East, Asia, USA and Europe. 1996 -  Started the cement grou

6. Slide 6: 2013: A Transformational Year

   2013: A Transformational Year OCI N.V. lists on the NYSE January  OCI N.V. begins trading on Euronext Amsterdam on 25 January 2013 Euronext Amsterdam Tax claim EGP 7.1 billion  Settled in April 2013 for EGP 7.1 billion (c. $ 1 billion) over ten installments April  First instalment of $ 360 millio

7. Slide 7: FY 2013 Results and Q1 2014 Trading Update

   FY 2013 Results and Q1 2014 Trading Update

8. Slide 8: Consolidated Results Financial Highlights

   Consolidated Results Financial Highlights Consolidated Financials $ million 2013 2012 %Δ H2 2013 H2 2012 %Δ Revenue 6,131.8 5,286.5 16.0% 3,049.0 2,659.5 14.6% EBITDA excluding one-off items 812.2 754.7 7.6% 429.3 220.6 94.6% EBITDA margin 13.2% 14.3% 14.1% 8.3% EBITDA 742.3 754.7 -1.6% 375.0 220.6

9. Slide 9: EBITDA Bridge | Non-Operating Events & One-off Items

   Consolidated Results EBITDA Bridge | Non-Operating Events & One-off Items  2012 one-off items include an adjusted goodwill amortization of $ 900.0 million  One-off items impact EBITDA negatively by $ 69.9 million in 2013  One-off items impact net income positively by $ 135.8 million in 2013 $ mil

10. Slide 10: Debt Overview

    Debt Overview  As at 31 December 2013, OCI N.V. had total gross debt outstanding of $ 6,066.1 million  Of which $ 2.9 billion (c. 48% of total) is related to Sorfert and Iowa Fertilizer Company. The two projects did not contribute to EBITDA in 2013  Debt position increased by $ 848.7 million due

11. Slide 11: Performance by Group

    Performance by Group

12. Slide 12: Fertilizer & Chemicals Group Highlights Financial Snapshot FY 2013

    Fertilizer & Chemicals Group Highlights Financial Snapshot FY 2013 $ million 2013 2012 %Δ H2 2013 H2 2012 %Δ Revenue 2,633.3 2,448.5 7.5% 1,282.1 1,360.8 -5.8% EBITDA excluding one-off items 708.2 849.1 -16.6% 380.7 455.0 -16.3% EBITDA Margin excluding one-off items 26.9% 34.7% 29.7% 33.4% EBITDA 63

13. Slide 13: Q1 2014 Trading Update – Fertilizer & Chemicals

    Q1 2014 Trading Update – Fertilizer & Chemicals  The Fertilizer & Chemicals Group benefitted from positive contribution from Sorfert and higher volumes during Q1 2014.  Positive developments were partially offset by lower prices year-on-year and a lower contribution from OCI Beaumont as a result o

14. Slide 14: Q1 2014 Fertilizer and Chemicals Group Volumes

    Q1 2014 Fertilizer and Chemicals Group Volumes Product – Sales Volumes (000 metric tons) Q1 2014 Q4 2013 %Δ Q1 2013 %Δ Granular Urea OCI Product Sold 429.5 270.0 59.1% 158.5 171.0% Third Party Traded 25.6 183.1 -86.0% 343.6 -92.5% Total Granular Urea 455.1 453.1 0.4% 502.1 -9.4% Ammonia OCI Product

15. Slide 15: Engineering & Construction Group Highlights Financial Snapshot FY 2013

    Engineering & Construction Group Highlights Financial Snapshot FY 2013 $ million 2013 2012 %Δ H2 2013 H2 2012 %Δ Revenue 3,498.6 2,838.0 23.3% 1,767.0 1,298.6 36.1% EBITDA 129.5 53.2 143.5% 50.3 -116.0 NM EBITDA Margin 3.7% 1.9% 2.8% -8.9% Backlog 5,893.8 7,043.0 -16.3% 5,893.8 7,043.0 -16.3% New aw

16. Slide 16: Q1 2014 Trading Update – Engineering & Construction

    Q1 2014 Trading Update – Engineering & Construction  The Group continues to expand its presence in key markets, focusing on the United States, Egypt, Saudi Arabia and Algeria  We expect improving Engineering & Construction Group margins as recently awarded higher margin projects kick in  The outl

17. Slide 17: Engineering & Construction Backlog and New Awards Snapshot

    Engineering & Construction Group Highlights Backlog and New Awards Snapshot as at 31 March 2014 Backlog by Geography Backlog by Sector Algeria 5.9% Egypt Commercial 30.6% 16.4% USA 36.7% Infrastructure Asia 51.4% 1.4% Industrial Other GCC 32.3% 2.0% Other Saudi Arabia 0.3% Iraq 19.6% 3.5% Backlog by

18. Slide 18: Strategy & Outlook | 2014 - 2018

    Strategy & Outlook | 2014 - 2018

19. Slide 19: 2014 Outlook

    2014 Outlook Segment 2014 Expectations  Ramp-up of Sorfert: ‒ Total sellable capacity: 0.8 mtpa ammonia and 1.26 mtpa urea ‒ Sorfert is expected to produce at capacity from April 2014 onwards as the export license issues have been resolved  Egyptian gas supply remains uncertain. We have been advis

20. Slide 20: Looking Forward | Strategy & Outlook | 2014 - 2018

    Looking Forward | Strategy & Outlook | 2014 - 2018 Segment Growth initiatives  Total sellable capacity 7.5 mtpa as at end-2013  Ramping up production capacity in the US  Addition of c. 4.4 mtpa to total capacity of 11.9 mtpa over next three years: ‒ Sorfert: ramp-up to sellable capacity of 2.1 mt

21. Slide 21: Fertilizer & Chemicals | Ramping-Up Capacity

    Fertilizer & Chemicals | Ramping-Up Capacity Design Capacities¹ Total Ammonia Fertilizer Chemicals for sale Plant Country Gross Net⁶ Urea UAN⁷ CAN Methanol Melamine DEF for sale Egyptian Fertilizers Company² Egypt 800 - 1,550 - - 1,550 - - - 1,550 Egypt Basic Industries Corp. Egypt 730 730 - - - 730

22. Slide 22: Organic Growth Initiatives: Iowa Fertilizer Company

    Fertilizers & Chemicals Organic Growth Initiatives Iowa Fertilizer Company  In the heart of the corn belt benefiting from a first mover advantage in the US for greenfield plants – broke ground on 19 Plant November 2012 and scheduled to begin commissioning in Q4 2015 Overview  Orascom Engineering &

23. Slide 23: Organic Growth Initiatives: OCI Beaumont & Natgasoline LLC

    Fertilizers & Chemicals Organic Growth Initiatives OCI Beaumont & Natgasoline LLC  Largest integrated ammonia-methanol plant in North America  Competitive location on Gulf Coast, strong ammonia / methanol economics in the US market on the and attractive natural gas feedstock costs  Newly rehabili

24. Slide 24: Appendix

    Appendix

25. Slide 25: OCI N.V.'s Acquisition of Orascom Construction Industries (OCI S.A.E.)

    OCI N.V.’s Acquisition of Orascom Construction Industries (OCI S.A.E.)  OCI N.V. launched a share exchange offer with a cash alternative for OCI S.A.E.’s outstanding ordinary shares listed on the EGX on 27 June 2013, concluding with OCI N.V. owning 97.4% of OCI S.A.E. ‒ 89.4% of the offer size resp

26. Slide 26: Ownership Structure Post-Completion of Tender Offer

    Ownership Structure Post-Completion of Tender Offer  OCI N.V. directly owns all international 99.8% of OCI S.A.E. OCI N.V. 100% directly operations through The Netherlands  OCI S.A.E. owns the Egyptian and Algerian construction operations, EFC OCI S.A.E. Chemicals Construction and Sorfert OCI Egyp

27. Slide 27: Production Facilities

    Production Facilities OCI Beaumont – MLP (78.3%1) OCI Nitrogen (100%) Egyptian Fertilizers Company (EFC) (100%)  USA-based  Netherlands-based  Egypt-based  Capacity:  Capacity:  Capacity: − 265 ktpa of ammonia − 1.4 mtpa of CAN − 1.55 mtpa of urea − 730 ktpa of methanol − 350 ktpa of sellable

28. Slide 28: OCI Fertilizer Global Distribution Presence

    OCI Fertilizer Global Distribution Presence  A global distribution network with a strong presence in Europe and strategic joint ventures in Brazil and the USA  While OCI maintains good relations with major international fertilizer traders, the majority of OCI sales are direct to customers  Sales

29. Slide 29: Engineering & Construction Group

    Engineering & Construction Group  Consolidated Brand Overview construction backlog of US$ 3.90 billion as at 31 March 2014  Core markets: Egypt, Algeria, Abu Dhabi and Saudi Arabia.  2013 ENR Rankings: 141 on International Contractors list; 182 on Global Contractors list.  Diversified  Leading

30. Slide 30: Fertilizer & Chemicals 2013 Benchmark Prices

    Fertilizer & Chemicals Group Highlights 2013 Benchmark Prices Granular Urea Middle East FOB ($/ton) Ammonia Arab Gulf FOB ($/ton) CAN Germany CIF FOB ($/ton) 471 365 362 420 423 691 342 403 404 646 311 311 320 591 303 295 354 537 303 313 507 440 439 365 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2013 2012

31. Slide 31: Fertilizer & Chemicals 2013 Sales Volumes

    Fertilizer & Chemicals Group Highlights 2013 Sales Volumes 000 metric tons Q1 2013 Q2 2013 Q3 2013 Q4 2013 2013 2012 % change Urea 502.1 152.8 320.0 453.1 1,428.1 1,357.3 5.2% OCI Production 158.5 116.1 289.3 270.0 834.0 1,187.6 -29.8% Third Party Traded 343.6 36.7 30.7 183.1 594.1 169.7 250.2% Ammo

32. Slide 32: Consolidated Income Statement

    Consolidated Income Statement US$ million 2013 2012 Revenue 6,131.8 5,286.5 Cost of sales -5,270.4 -4,249.9 Gross profit 861.4 1,036.6 Other income 348.6 156.6 General, selling and administrative expenses -466.1 -685.2 Other expenses -97.5 -30.1 Transaction cost -89.3 - Impairment loss on goodwill -

33. Slide 33: Consolidated Balance Sheet

    Consolidated Balance Sheet US$ million 31 December 2013 31 December 2012 ASSETS Non-current assets Goodwill and other intangible assets 986.0 996.2 Property, plant and equipment 4,918.4 4,446.6 Trade and other receivables 198.7 232.1 Associates 188.2 144.9 Other investments 51.9 54.9 Deferred tax as

34. Slide 34: Consolidated Balance Sheet

    Consolidated Balance Sheet US$ million 31 December 2013 31 December 2012 EQUITY Share capital 272.1 191.6 Share premium 1,441.8 725.7 Reserves 109.6 -14.4 Retained earnings -102.2 378.8 Equity attributable to owners of the Company 1,721.3 1,281.7 Non-controlling interest 366.3 418.9 Total equity 2,0

35. Slide 35: Cash Flow Statement

    Cash Flow Statement US$ million 2013 2012 Net income 259.2 -1,859.2 Depreciation and amortisation 327.0 276.8 Impairment of goodwill 0.0 900.0 Income tax expense 86.0 1,243.3 Other adjustments to net income -1,015.5 -172.8 Net financing costs 6.8 32.7 Decrease (increase) in working capital needs -37

36. Slide 36: Disclaimer

    Disclaimer NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION. THIS DOCUMENT IS NOT AN EXTENSION INTO THE UNITED STATES OF THE OFFER MENTIONED BELOW AND IS NOT AN OF

37. Slide 37: Investor relations contacts

    For OCI N.V. investor relations enquiries contact: Hans Zayed hans.zayed@oci.nl T +31 (0) 6 18 25 13 67 Erika Wakid erika.wakid@oci.nl T +44 (0) 20 7297 8841 OCI N.V. corporate website: www.ocinv.nl

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