Slide 1: Fertiglobe Q2 2026 Results Investor Presentation
Fertiglobe Q2 2026 Results Investor Presentation Feeding the World. July 2026 Fueling a Sustainable Future. 1
Slide 2: Table of Contents
Table of Contents Highlights Q2 2026 Results Summary Market Outlook Appendix Feeding the World. Fueling a Sustainable Future. 2
Slide 3: Fertiglobe at a Glance
Fertiglobe at a Glance Leading nitrogen fertilizer and industrial products exporter 3 Fertiglobe produces and exports nitrogen-based solutions, including: Ownership Structure Diesel Exhaust Fluid Ammonia Urea (DEF) & Automotive Grade Urea (AGU) through 1.5 Mt 5.1 Mt 0.5 Mt Merchant Ammonia Urea Dies
Slide 4: Safety is Our First Priority, with a Target of Zero Injuries
Safety is Our First Priority, with a Target of Zero Injuries Commitment to safety Significant improvements since HSE program roll-out in 2022 1 Fostering a culture of zero injuries with Total Recordable Injury Rate 1 # of injuries per 200,000 manhours. 2016-Q2 2026 robust track-record 0.8 2 Leadersh
Slide 5: Executive Summary
Executive Summary H1 2026 Operational H1 2026 Proposed Q2 2026 Results Highlights Performance Highlights Dividends Revenues Adj. EBITDA Adj. Net Profits1 Urea Operating rate At least $ 1.1Bn $ 371M $ 145M 92% $ 150M +92% Y-o-Y +111% Y-o-Y 12.5x Y-o-Y +20% Y-o-Y • Strong H1 2026 performance : Q2 2026
Slide 6: Urea Prices Trend Upwards in Q3 2026 Post Reset
Urea Prices Trend Upwards in Q3 2026 Post Reset Recent urea price reset and higher crop prices improve farmer affordability, supporting demand Ammonia and urea prices Key market drivers $/t Ammonia Conflict • 20% of global ammonia exports from the Middle East curtailed 1000 escalation since the conf
Slide 7: Grow 2030 Strategy: Becoming a $1B+ EBITDA company
Grow 2030 Strategy: Becoming a $1B+ EBITDA company ~$340-420M EBITDA uplift by 2030 with further upside potential Non-cumulative, annual EBITDA by 2030 ($M) ~+340-420 70-100 1,000+ 75-100 Potential uplift 30-45 from ADNOC 165-175 340-420 partner projects 55 Cost excellence (FIT)1 110-120 629 Manufac
Slide 8: Strategically Located Plants
Strategically Located Plants EFC – Urea 100% 1 EBIC - NH3 75% 2 Prod. capacity (Mt): 1.4 0.4 Prod. capacity (Mt): 0.7 Duty free access4 to key customers in Europe at the Freight advantage to Europe vs. Middle East Several clear advantages best netback + default value advantaged producers Favorable u
Slide 9: Table of Contents
Table of Contents Highlights Q2 2026 Results Summary Market Outlook Appendix Feeding the World. Fueling a Sustainable Future. 9
Slide 10: Q2 2026 & H1 2026 Performance Highlights
Q2 2026 & H1 2026 Performance Highlights Revenue Adj. EBITDA Adj. attributable net Own-produced sales Benchmark price levels1 profit volumes $M $M $M ktpa $/t +92% 1,086 Q2 2026 +111% 1,105 965 941 723 693 566 915 551 +12.5x 495 371 408 342 286 289 276 176 145 145 227 12 Q2 Q1 Q2 Q2 Q1 Q2 Q2 Q1 Q2 Q
Slide 11: Q2 2026 & H1 2026 Results Summary
Q2 2026 & H1 2026 Results Summary $ million unless otherwise stated Q2 2026 Q2 2025 %Δ H1 2026 H1 2025 %Δ Summary Revenue 1,085.9 565.8 92% 2,001.0 1,260.7 59% Gross profit 308.3 140.8 119% 624.9 362.8 72% Q2 2026 Results Gross profit margin 28.4% 24.9% 31.2% 28.8% Adjusted EBITDA 371.1 176.0 111% 7
Slide 12: Q2 2026 & H1 2026 Free Cash Flow Build-Up
Q2 2026 & H1 2026 Free Cash Flow Build-Up Reconciliation of Q2 2026 EBITDA to free cash flow ($ million) $80 -$26 $338 $320 $38 320 -$58 $290 -$43 -$1 -$8 1 Reported EBITDA Working capital Maintenance capex Tax paid Net interest paid Lease payments FCF before Dividends paid Ecremage Free Cash Flow E
Slide 13: Table of Contents
Table of Contents Highlights Q2 2026 Results Summary Market Outlook Appendix Feeding the World. Fueling a Sustainable Future. 13
Slide 14: Rising Food Demand and Limited Land, Require Higher Crop Yields
Rising Food Demand and Limited Land, Require Higher Crop Yields Global agricultural land flat to 2040 World population to grow by 11% to 2040 More people to feed with same land Bn hectares, 2025-2040 Bn people, 2025-2040 Agricultural land per capita Population growth, shift to higher animal protein
Slide 15: Agricultural Fundamentals
Agricultural Fundamentals • Persistent urea price strength in H2 ‘25 - H2 ’26 and continued urea demand inelasticity: Strong demand pull from key markets, pre + post CBAM and during conflict amidst higher pricing environment • Urea affordability significantly improved vs peak war period, back to 202
Slide 16: Robust Demand In Key Import Markets, with Limited Chinese Exports YTD
Robust Demand In Key Import Markets, with Limited Chinese Exports YTD India Imports Brazil Imports China Exports 9.3 8.4 5.5 9.0 9 7.9 5.3 7.7 7-7.5 7.3 4.9 7.0 7.0 4.3 6.9 5.3 2.8 0.3 21 22 23 24 25 26E 21 22 23 24 25 26E 21 22 23 24 25 26E • Three tenders attempting to pull in 5.5mt of urea • July
Slide 17: Indian Tenders
Indian Tenders Indian Tenders 2025- 2026 to date Robust buying appetite in 2026 Tender requested quantity, final purchase and CFR India price (RHS) • Three tenders YTD: Jan – May, attempt to 6 1000 pull in 5.5mt of urea in 2026 YTD 947 5 • Tender volumes to date = 60% of 2025 800 annual volume (9.3m
Slide 18: EU Duties on N and P from Russia + Belarus Rise to €60/t in July
EU Duties on N and P from Russian + Belarus Rise to €60/t in July EU Imports of N + P from Russia and Belarus • EU imposed duties on N and P products from Russia and Belarus, 3.0 400 2.7 starting July 2025 • The import threshold drops over time, as the EU duty rises: Imports / threshold, m tons 300
Slide 19: Urea Outlook Underpinned by Healthy S&D Fundamentals
Urea Outlook Underpinned by Healthy S&D Fundamentals A slower future pace of urea capacity additions, with most new projects timed post 2027/28, coupled with robust urea demand Global urea net capacity additions and demand growth, ex-China, mt Key market drivers Market gap: +5.6Mt surplus +5.7Mt sur
Slide 20: Low-Carbon Ammonia Outlook
Low-Carbon Ammonia Outlook The Future Will See A Shift Towards Energy Transition & Sustainable Value Chains Ammonia with significant potential in use cases beyond conventional Long-term Low Carbon Ammonia Demand fertilizer & chemical applications Mt, '30-'40 EU regulations driven: Fertilizers + Conv
Slide 21: Table of Contents
Table of Contents Highlights Q2 2026 Results Summary Market Outlook Appendix Feeding the World. Fueling a Sustainable Future. 21
Slide 22: June 2026 Leverage Position
June 2026 Leverage Position Fertiglobe Ends Q2 2026 with Net Debt of $621 million $ million 30-Jun-26 31-Dec-25 Cash and bank balances 1,373.2 735.1 Loans and borrowings (current) 597.3 342.0 Loans and borrowings (non-current) 1,397.1 1,398.6 Total borrowings 1,994.4 1,740.6 Net debt1 621.2 1,005.5
Slide 23: Reconciliation of Adjusted EBITDA
Reconciliation of Adjusted EBITDA Reconciliation of reported operating profit to adjusted EBITDA $ million Q2 2026 Q2 2025 H1 2026 H1 2025 Adjustment in P&L Operating profit as reported 261.2 112.2 527.1 295.9 Depreciation and amortization 76.5 75.7 152.6 151.7 EBITDA 337.7 187.9 679.7 447.6 APM adj
Slide 24: Reconciliation of Adjusted Net Profit
Reconciliation of Adjusted Net Profit Reconciliation of reported net profit to adjusted net profit $ million Q2 2026 Q2 2025 H1 2026 H1 2025 Adjustment in P&L Reported net profit attributable to shareholders 114.5 20.2 312.4 92.8 Adjustments for: Adjustments at EBITDA level 33.4 (11.9) 33.4 (10.2) I
Slide 25: Reconciliation of Free Cash Flow
Reconciliation of Free Cash Flow Reconciliation of EBITDA to Free Cash Flow and Change in Net Debt $ million unless otherwise stated Q2 2026 Q2 2025 H1 2026 H1 2025 EBITDA 337.7 187.9 679.7 447.6 Working capital 79.7 (30.4) 32.6 (14.3) Maintenance capital expenditure (25.6) (31.2) (36.4) (49) Tax pa
Slide 26: Thank you
Thank you Feeding the World. Fueling a Sustainable Future. 26