David Schramm and John Ringkob Assume New Leadership Positions at N7

N-7 LLC (“N-7”), a joint venture between OCI and Dakota Gasification Company in the US, announces that effective July 1, 2021, David Schramm will assume the position of Executive Chairman of N-7’s Board of Directors until he retires from the company in February 2022. John Ringkob will succeed David Schramm as President.

John has been with OCI and N-7 for the past 4 years and has been instrumental to its success in growing the DEF business from inception to a leader in the North American DEF industry, including originating and executing on the DEF, Urea Liquor and Automotive Grade Urea Marketing Agreement with Dyno Nobel. In addition, John has driven N-7’s penetration into industrial urea markets and has led its urea marketing and trading activities. Before joining OCI, John was a Principal and Vice President of DASCO Inc., a US-based trader of crop nutrients, feed ingredients, and industrial chemicals (including DEF), which John co-led for 13 years. John brings 20 years of fertilizer and industrial products trading experience to OCI and has a demonstrated history of driving commercial excellence in his tenure at the company. John holds a Bachelor of Science in Agricultural Business with a minor in Agronomy from Iowa State University.

“We thank Dave for his tremendous contributions to OCI’s growth and success in its North America business over these past 8 years,” said Ahmed El Hoshy, CEO of OCI N.V. “Dave was instrumental in the development of OCI’s Iowa Fertilizer company greenfield project from inception, establishing our North American commercial presence and building and leading the N-7 joint venture. We are excited for this next chapter in N-7’s development and Dave’s continued stewardship of the business alongside John as its new leader. John has been an invaluable asset to OCI and N-7 over these past 4 years, and has demonstrated an ability to drive growth and excellence in our commercial activities.”

“Dave’s vision and experience were extremely valuable in developing new opportunities for N-7. We are grateful for his steadfast leadership and expertise,” said Paul Sukut, Basin Electric CEO, and general manager. “We look forward to working closely with John as he has outstanding commercial operation expertise, and his contributions and dedication have provided successful commercial operations and business development. N-7 is fortunate to have a successful and experienced team to drive the next chapter of N-7’s growth.”

Chris Kayl has been appointed Vice President of Commercial. In this role, Chris will be responsible for product management and sales for N-7 across products. Chris joined OCI in 2017 and has led its ammonia trading activities in the US as well as providing support to the global ammonia trading team. Alongside John, Chris was responsible for the development of N-7’s DEF commercial activities and helped grow the business into an industry leader. Chris joined OCI from Koch Fertilizer where he spent 14 years, most recently as Senior Vice President of International Terminals and Trading. Chris brings 27 years of experience in the fertilizer trading and agriculture industry. Chris holds a Bachelor of Science in Business Administration from Mount Mercy College.

“With these appointments, OCI and DGC usher in the next generation of leadership in our partnership,” said Mr. El-Hoshy. “We look forward to John and Chris’s contributions to the continued success of N-7. Dave has been the linchpin of OCI and N-7’s success in the North American fertilizer industry and having him continue his stewardship of the business as Chairman through February 2022 will ensure a successful transition to new leadership.”

“It has been my privilege to lead N-7 and be part of OCI these many years, and I am extremely proud of what we have accomplished,” said Mr. Schramm. “John and Chris have the faith and trust of the organization and me, and I anticipate great things to come at N-7 from their leadership.”

OCI NV, Dakota Gasification Company and Dyno Nobel Enter into Exclusive Marketing Agreement for DEF, Urea Liquor and Automotive Grade Urea in North America

N-7 LLC (N-7), a joint venture between OCI N.V. (Euronext: OCI) and Dakota Gasification Company (DGC), and Dyno Nobel, Inc. (Dyno Nobel), a subsidiary of Incitec Pivot Limited (ASX: IPL), have reached agreement on commercial terms for the marketing of Dyno Nobel’s industrial urea products, including diesel exhaust fluid (DEF), urea liquor, and automotive grade urea (AGU) in North America. Upon finalization of the transaction, N-7 will be the exclusive marketer for all of these products from Dyno Nobel in the United States and Canada.

Dyno Nobel produces industrial urea at two sites – St. Helens, Oregon and Cheyenne, Wyoming. Including OCI’s facility in Iowa and DGC’s Beulah facility in North Dakota, the agreement will bring N-7’s industrial urea presence in North America to a total of four locations.

Nassef Sawiris, CEO of OCI N.V. commented: “This transaction reflects OCI’s and N-7’s continuing commitment to growing our presence in the DEF and industrial urea markets in North America. It will serve to cement N-7’s position as a major supplier in the US, offering product from four sites. We are excited to partner with Dyno Nobel and look forward to growing our partnership in the future.”

Paul Sukut, CEO of Dakota Gasification Company, said: “This is a great opportunity for all parties involved. It will provide additional geographic reliability to the growing DEF demand of N-7’s customers and position N-7 as a dependable supplier in North America. Dakota Gas, OCI, and N-7 look forward to working with Dyno Nobel in this endeavor.”

Nick Stratford, President of Dyno Nobel Americas, said, “This will enhance our service to our DEF and urea liquor customers with increased supply reliability and flexibility, and we look forward to developing this strategic partnership with N-7 in the future.”

N-7 and Dyno Nobel expect to finalize and execute definitive documentation on the marketing agreement by year-end.

OCI N.V. AND DAKOTA GASIFICATION COMPANY FORM N-7 JOINT MARKETING VENTURE IN NORTH AMERICA

OCI N.V. (Euronext: OCI) today announced that it has signed a definitive agreement with Dakota Gasification Company (DGC) to sell nitrogen fertilizers, industrial ammonia and diesel exhaust fluid (DEF) in North America through a newly formed joint venture, N-7 LLC (N-7).

The joint venture will market and distribute more than 4.5 million metric tons of product from Iowa Fertilizer Company, OCI Partners in Texas and DGC’s Beulah facility in North Dakota. In addition, N-7 will market any imported product from OCI’s operations outside North America.

The venture is expected to bring a number of benefits to OCI, DGC and their customers, including enhanced utilization of truck and rail logistics infrastructure and improved security of supply to customers.

Paul Sukut, Chief Executive Officer of Dakota Gas, said: “We expect that this new partnership will provide many benefits for marketing the fertilizers produced at the Great Plains plant. Through N-7, we will be able to better serve the North Dakota market and the local agricultural economy, and it makes good business sense as well. We have a large customer base in the 250-mile radius around the Synfuels Plant, and achieving transportation and selling cost synergies through N-7 enables us to more efficiently serve the local farming community and be a dependable local source of fertilizer for area farmers.”

Nassef Sawiris, Chief Executive Officer of OCI N.V., said: “We are delighted to join forces with Dakota Gasification Company. The joint venture allows us to extend our reach throughout North America, expand our product offering and customer base, and better serve our existing customers.”

OCI N.V. was advised by Vinson & Elkins LLP and Dakota Gasification Company by Orrick, Herrington & Sutcliffe LLP.