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OCI Highlights : OCI N.V. Reports Third Quarter 2021 Results ● Q3 2021 Results Report Financial and Outlook Revenues increased 104 % to $ 1.5 billion and adjusted EBITDA increased 161 % to $ 501 million in Q3 2021 as compared to Q3 2020 , despite three sizeable turnarounds at our facilities in the US and Egypt Adjusted net income was $ 56 million in Q3 2021 compared to adjusted net loss of $ 67 million in Q3 2020 We expect a meaningful step - up in adjusted EBITDA in Q4 compared to Q3 2021 , driven by significantly higher selling prices and advantaged feedstock costs in MENA and the US ● Amsterdam , The Netherlands / 8 November 2021 • Trailing net debt / adjusted EBITDA was 1.7x as of 30 September 2021 ; based on the current outlook for volumes and pricing , we expect a drop in net leverage to below 1.3x by year - end 2021 and to below 1.0x during Q1 2022 OCI expects to start returning capital to shareholders from 2022 onwards , with a first semi - annual dividend expected to be announced in February and paid in April 2022 ESG and Business Updates On 27 October 2021 ADNOC and OCI successfully listed 13.8 % of their partnership Fertiglobe on the Abu Dhabi Securities Exchange ( ADX ) , generating gross proceeds to OCI of c . $ 461 million . Following the IPO , OCI continues to own a majority of Fertiglobe's share capital In October , Fertiglobe announced a partnership with Scatec and the Sovereign Fund of Egypt for a 50 - 100 MW electrolyzer to produce up to 90,000 metric tons of green ammonia in Egypt In November 2021 , OCI further improved its capital structure by redeeming $ 540 million 5.25 % Senior Secured Notes and € 400 million 3.125 % Senior Secured Notes , which results in a reduction in OCI N.V.'s cash interest of > $ 40 million per annum from 2022 onwards Ahmed El - Hoshy , CEO of OCI NV commented : " This year has been transformational , as we begin reaping the rewards of our growth strategy and competitive business model . We have achieved our balance sheet goals which gives us the opportunity to start returning capital to shareholders and positions us well for future growth through targeted sustainability driven projects . Our order book gives us excellent visibility for Q4 and the upcoming season in H1 2022. The current low grain stocks around the world will take at least until 2023 to replenish . It's times like these that OCI with its low - cost global platform , world - scale young assets and strong logistics can help address these grain shortfalls and overall food security concerns by delivering essential nitrogen products to the agricultural markets . We continue to enhance our ammonia logistics , further strengthening OCI's world - leading ammonia production and trading platform . We have added a dedicated fourth charter vessel and have increased throughput capabilities at our ammonia import terminal in Rotterdam , which has enabled us to continue our downstream production in Europe and weather volatility in feedstock prices by sourcing record volumes of ammonia from Fertiglobe and the US to our Dutch operations . 1 Our distribution capabilities , including the ability to manage inventories in relevant locations coupled with a disciplined commercial strategy , allows us to optimise benefits from rising prices such as in the recent India urea tender where