CF Industries and OCI Committed to Pursuing Combination

23 November 2015

CF Industries Holdings, Inc. (NYSE: CF) and OCI N.V. (Euronext: OCI) today announced that both companies remain fully committed to pursuing a combination of CF with OCI’s European, North American and global distribution businesses due to its strong industrial logic, significant expected synergies and value creation potential for shareholders.

The companies are jointly evaluating options to address the impact of the notice by the U.S. Department of the Treasury, issued on 19 November 2015, on the previously-announced combination. This evaluation includes exploring alternative structures for the combination, such as using a parent company in The Netherlands rather than one in the United Kingdom, to accommodate the requirements of the Treasury notice. Any agreement with respect to such new structure will require the approval of each company’s board of directors and shareholders.