On November 23, 2022, OCI decided to spin-off into a holding company. On March 22, 2023, the spin-off plan was approved by the general meeting of shareholders. On May 1, 2023, the spin-off date, the company was divided into OCI Holdings, a surviving corporation in charge of subsidiary management and investment in new business areas, and OCI, a new chemical company. The surviving corporation will become a holding company through in-kind contributions and rights issuance.

The spin-off was implemented for the following purposes:

• First

  To strengthen the accountability management system through independent business management by sector.

• Second

  To enhance the valuation of the entire Group through specialization and consolidating a growth base with investment strategies optimized for each sector.

• Third

  To reassess the value of core businesses to support the growth and profitability of main business sectors.

With the spin-off and transition to a holding company, OCI Holdings will specialize in investment, while OCI will be a manufacturing operating company with independent management. We will increase competitiveness by establishing a system that enables rapid and professional decision-making commensurate with the characteristics of each business sector and promote efficiency by concentrating on specialized business areas.

With the new corporate structure, we will pursue the growth of the Group by generating stable cash flows and formulate various policies to return profits to our shareholders and enhance shareholder value.