Programas y medidas de prevención, mitigación o compensación

$ millions 2015 2014

Interest income on loans and receivables 12.8 9.0

Fair value gain on derivatives - 0.5

Foreign exchange gain 115.2 12.3

Finance income 128.0 21.8

Interest expense on financial liabilities measured at amortized cost (180.9) (199.2)

Foreign exchange loss (93.1) (73.0)

Finance cost (274.0) (272.2) Net finance cost recognized in profit or loss (146.0) (250.4)

The increase in foreign exchange gains from 2014 to 2015 mainly related to the revaluation of intercompany balances in foreign currencies, for which the statement of profit or loss impact is not eliminated in the consolidated financial statements. Interest expense in 2014 includes USD 36.6 million interest income, representing the reversal of interest on the tax dispute liability that was recognized in 2013. Foreign exchange gain and losses in 2015, both include the foreign currency result from the donation provision and the tax refunds received (USD 23.0 million). The above finance income and finance costs include the following interest income and expense in respect of assets (liabilities) not measured at fair value through profit or loss:

$ millions 2015 2014

Total interest income on financial assets 12.8 9.0

Total interest expenses on financial liability (180.9) (199.2)

25. Earnings per share

25.1 Earnings per share from total operations

2015 2014

i. Basic

Net Profit / (Loss) attributable to shareholders 384.7 328.7 Weighted average number of ordinary share (Basic) 209,164,389 204,871,270

Basic earnings per ordinary share 1.839 1.604 ii. Diluted

Net Profit / (Loss) attributable to holders of ordinary shareholders 384.7 328.7

Interest expense on convertible notes 17.4 anti-dilutive

Net Profit / (Loss) attributable to holders of ordinary shareholders based on full conversion 402.1 328.7 Weighted average number of ordinary shares (Basic) 209,164,389 204,871,270 Adjustment for assumed conversion of convertible notes 11,907,689 anti-dilutive Adjustment for assumed equity - settled share-based compensation 172,395 236,648 Weighted average number of ordinary shares outstanding on the basis of full conversion 221,244,473 205,107,918

Diluted earnings per ordinary share 1.817 1.603

At 31 December 2014, the effect of conversion of convertible notes was excluded from the calculation of the diluted earnings per share for total operations because the effect would be anti-dilutive. Further reference on the details of the effect of conversion of convertible notes is made in note 25.2.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

CONTINUED

FINANCIAL STATEMENTS

25.1 Earnings per share from total operations continued (i) Weighted average number of ordinary shares calculation

shares 2015 2014

Issued ordinary shares at 1 January 205,911,570 204,840,744

Effect of treasury shares held (926,439) (779,195)

Effect of shares issued during the year 4,179,258 809,721

Weighted average number of ordinary shares outstanding 209,164,389 204,871,270

25.2 Earnings per share from continued operations

2015 2014

i. Basic

Net Profit / (Loss) attributable to shareholders (246.1) 444.1 Weighted average number of ordinary share (Basic) 209,164,389 204,871,270

Basic earnings per ordinary share (1.177) 2.168 ii. Diluted

Net Profit / (Loss) attributable to holders of ordinary shareholders (246.1) 444.1

Interest expense on convertible notes anti-dilutive 20.4

Net Profit / (Loss) attributable to holders of ordinary shareholders based on full conversion (246.1) 464.5 Weighted average number of ordinary shares (Basic) 209,164,389 204,871,270 Adjustment for assumed conversion of convertible notes anti-dilutive 9,840,348 Adjustment for assumed equity - settled share-based compensation anti-dilutive 236,648 Weighted average number of ordinary shares outstanding on the basis of full conversion 209,164,389 214,948,266

Diluted earnings per ordinary share (1.177) 2.161

(i) Weighted average number of ordinary shares calculation

shares 2015 2014

Issued ordinary shares at 1 January 205,911,570 204,840,744

Effect of treasury shares held (926,439) (779,195)

Effect of shares issued during the year 4,179,258 809,721

Weighted average number of ordinary shares outstanding 209,164,389 204,871,270

26. Segment reporting

OCI’s reportable segments are consistent with how we manage the business and view the markets we serve. Our reportable segments are: OCI Partners, IFCo, Natgasoline, OCI Nitrogen and Trading, and North Africa. The business’ organizational structure is based on a number of factors that our chief operating decision maker (CODM) uses to evaluate, view, and run our business operations.

A summary description of each reportable segment is as follows: OCI Nitrogen and Trading

OCI Nitrogen and Trading aggregates two operating segments: (1) OCI Nitrogen, which produces fertilizer and melamine, and (2) OCI Fertilizer Trading Ltd, OCI Fertilizer Trade & Supply B.V. and OCI Fertilizers USA LLC, which trades fertilizer products. The segment is Europe’s second largest integrated nitrates fertilizer producer and the world’s largest melamine producer. The segment also operates a trading and distribution arm operating through offices in Dubai, U.A.E, and Geleen, the Netherlands. In addition, the business trades nitrogen based fertilizers in Brazil through FITCO, a joint venture with Fertipar, capturing a significant share of the Brazilian ammonia sulfate (AS) market through the joint venture. North Africa

North Africa aggregates four operating segments: (1) EFC, which is the largest private sector granular urea producer in Egypt, (2) EBIC, which is a state-of-the-art 0.73 million metric ton per year ammonia plant, (3) Sorfert, which is a joint venture with Algeria’s state-owned oil and gas authority, is the largest nitrogen fertilizer producer in Algeria, capable of producing 1.26 million metric tons of urea and 1.6 million metric tons of gross anhydrous ammonia per year, and (4) OCI Trading Limited, which trades the products of EFC, EBIC, and Sorfert.

OCI Partners

OCI Partners operates an integrated methanol and ammonia production facility that is strategically located on the Texas Gulf Coast near Beaumont. The facility has a maximum annual methanol and ammonia production capacity of approximately 912,500 and 331,000 metric tons, respectively making it one of the largest producing methanol facilities in the United States. OCI Partners sells all production domestically; primarily to industrial customers in and around the U.S. Gulf Coast through pipeline connections to adjacent customers, port access with dedicated methanol and ammonia import/export jetties, and truck loading facilities for both methanol and ammonia.

IFCo

IFCo is currently constructing a greenfield nitrogen fertilizer complex in Wever County, Iowa. Once operational in 2016, the plant is expected to produce approximately 1.5 to 2.0 million tons of nitrogen fertilizers and diesel exhaust fluid per year. The facility was a strategic effort to expand into the U.S.

IFCo will use state of the art production process technologies from world leaders. Kellogg Brown & Root LLC, Maire Tecnimont Stamicarbon, and Uhde are supplying the process technologies for the plant. It is expected that the plant will have 100 thousand metric tons of ammonia storage, 120 thousand metric tons of UAN storage and 40 thousand metric tons of urea storage. Construction work on the plant broke ground on November 19, 2012. The project is funded by a combination of equity and non-recourse project finance tax exempt municipal bond issuance.

Natgasoline

Natgasoline is a Greenfield methanol production complex being developed in Beaumont, Texas. The world-class plant is expected to have a capacity of approximately 1.75 million metric tons per year, and is expected to start production in the second half of 2017. It will be the largest methanol producer in the US based on nameplate capacity.

Segment policy

The company derives the results of the business segments directly from its internal management reporting system. All segments are managed separately because they require different operating strategies and use their own assets and employees.

Segment revenue includes revenue from sales to external customers and intersegment revenues. Prices for transactions between segments are determined on an arm’s length basis. Profit before tax is the primary performance measure used by our CODM to evaluate operating results and allocate capital resources among segments. Profit/(loss) before tax is also the profitability measure used to set management and executive incentive compensation goals. Corporate and other consists of share-based compensation and certain corporate general and administrative expenses that are not allocated to the segments. Segment results, assets and liabilities include items directly attributable to a segment as well as those that can be reasonably and consistently allocated.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FINANCIAL STATEMENTS

26. Segment reporting continued