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Fertiglobe An ADNOC and OCI Company Q3 2021 Results Fertiglobe Reports Strong Q3 2021 Performance Underpinned by Robust Market Conditions Highlights : • Revenues increased 175 % to $ 867 million and adjusted EBITDA increased 257 % to $ 371 million in Q3 2021 as compared to Q3 2020 , driven by significantly higher selling prices and volume growth of 21 % • Adjusted net income was $ 158 million in Q3 2021 compared to adjusted net income of $ 6 million in Q3 2020 • Fertiglobe maintains a robust capital structure with trailing net debt / EBITDA of 1.1x at the time of listing . The Company continues to expect net leverage well below 1.0x by year - end 2021 • Strong performance underscores Fertiglobe's robust and competitive position • Due to strong earnings momentum , Fertiglobe increases dividend guidance from at least $ 200 million to at least $ 240 million for H2 2021 payable in April 2022 , with the final number to be determined in February 2022 Abu Dhabi , UAE - 8 November 2021 : Fertiglobe ( ADX : FERTIGLB ) , the world's largest seaborne exporter of urea and ammonia combined , the largest nitrogen fertilizer producer in the Middle East and North Africa ( " MENA " ) region by production capacity , and an early mover in clean ammonia , today reported that its Q3 2021 revenues increased 175 % to $ 867 million and adjusted EBITDA increased 257 % to $ 371 million in Q3 2021 as compared to Q3 2020. Due to strong earnings momentum , Fertiglobe announced that it has increased its dividend guidance from at least $ 200 million to at least $ 240 million for H2 2021 , payable in April 2022 , with the final number to be determined in February 2022 . Fertiglobe , a strategic partnership between ADNOC and OCI headquartered in Abu Dhabi , operates a diverse regional footprint of four world - class production facilities in three countries , Egypt , Algeria and the UAE . The company has significant non - GDP growth levers , benefiting from a unique combination of factors including strategic locations and a competitive low- cost position , which support strong free cash flows and attractive dividends . As a leader in merchant ammonia and an early mover in clean ammonia , Fertiglobe is well positioned to capitalize on the global transition to a hydrogen economy , with ammonia having emerged as one of the most promising products to enable the energy transition . Ahmed El - Hoshy , Chief Executive Officer of Fertiglobe commented : " Fertiglobe's first quarterly results following the IPO were robust , reinforcing the company's great potential . We expect this strong earnings momentum to continue with significantly higher EBITDA in Q4 2021 compared to Q3 , driven by increasing ammonia and urea prices , exemplifying the structural shift to a demand - driven market environment for nitrogen products over the medium term . Furthermore , as an early mover in clean ammonia projects , Fertiglobe is uniquely positioned to capitalize on new demand for low / no carbon ammonia as an efficient energy carrier and clean fuel as part of the energy transition . In the last few months , we made good progress by partnering with ADNOC to sell blue ammonia to Japan and reached a milestone through our partnership with Scatec and the Sovereign Fund of Egypt on a new project that could produce up to 90,000 metric tons of green ammonia in Egypt . " 1