Yara delivers strong results in a volatile market

08 Feb 2023 08:00 CET

Oslo, 8 February 2023: Fourth-quarter EBITDA excl. special items(1) was USD
1,067 million, compared with USD 765 million a year earlier. Net income
attributable to shareholders of the parent was USD 769 million (USD 3.02 per
share) compared with USD 41 million (USD 0.16 per share) a year earlier.

The main elements of the fourth-quarter results are:

* Improved results with strong cash flow and increased returns across all
commercial segments
* Improved ammonia production reliability and continued optimization of
production amid margin volatility
* Lower deliveries, however improved farmer affordability and profitability
metrics ahead of main application season
* Strong organizational performance in 2022 to optimize operations,
maintaining supply to customers amid significant raw material sourcing
challenges and volatile market conditions
* NOK 55 per share annual dividend proposed, bringing total 2022 distribution
to 65 per share

The energy transition, climate crisis and food security have become top
priorities globally. With its leading food solutions and ammonia positions, Yara
is uniquely positioned to drive these transformations. Furthermore, the volatile
operating conditions of the past years has shown the resilience of Yara's global
and flexible business model.

"Yara has delivered solid results throughout a year shaped by war and market
volatility. I want to thank the whole Yara organization for all the hard work to
navigate a challenging operating environment and continue to provide society
with vital products" said Svein Tore Holsether, President and Chief Executive
Officer of Yara.

"Yara has demonstrated its resilience in a challenging situation, with its
global production and distribution footprint, flexible asset base and world-
leading capabilities within ammonia transport and storage. However, I am
concerned about European industry. The U.S. Inflation Reduction Act (IRA) will
create much-needed decarbonization momentum, and must be matched by swift and
bold action by European authorities. If Europe does not act, it risks losing
both its ability to decarbonize and important existing industry," said
Holsether.

During 2022, higher prices saw farmers and distributors in some regions postpone
purchases, creating supply overhangs and contributing to price declines and low
market activity towards the end of 2022 and at the start of 2023. However, the
price declines have led to improved farmer affordability and profitability
metrics, and catch-up demand potential is seen in most regions.

Link to report, presentation and webcast 8 February at 12:00 CET:
https://www.yara.com/investor-relations/latest-quarterly-report/

1) For definition and reconciliation of Alternative Performance Measures, see
APM section in 4Q report, page 33-40
Note on Alternative performance measures: Alternative performance measures are
defined, explained and reconciled to the Financial statements in the APM section
of the Quarterly report on pages 33-40

Contact:
Anika Jovik
Investor contact
Mobile: +47 47224959
E-mail: anika.jovik@yara.com (mailto:anika.jovik@yara.com)
(mailto:anika.jovik@yara.com)Tonje Næss
Media contact
Mobile: +47 40844647
E-mail: tonje.nass@yara.com (mailto:tonje.nass@yara.com)

About Yara
Yara grows knowledge to responsibly feed the world and protect the planet.
Supporting our vision of a world without hunger and a planet respected, we
pursue a strategy of sustainable value growth, promoting climate-friendly crop
nutrition and zero-emission energy solutions. Yara's ambition is focused on
growing a nature positive food future that creates value for our customers,
shareholders and society at large and delivers a more sustainable food value
chain.
To achieve our ambition, we have taken the lead in developing digital farming
tools for precision farming and work closely with partners throughout the food
value chain to improve the efficiency and sustainability of food production.
Through our focus on clean ammonia production, we aim to enable the hydrogen
economy, driving a green transition of shipping, fertilizer production and other
energy intensive industries.
Founded in 1905 to solve the emerging famine in Europe, Yara has established a
unique position as the industry's only global crop nutrition company. We operate
an integrated business model with around 17,000 employees and operations in over
60 countries, with a proven track record of strong returns. In 2022, Yara
reported revenues of USD 24 billion.
www.yara.com (http://www.yara.com)

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act

More information:
Access the news on Oslo Bors NewsWeb site

581639_4Q 2022 Presentation.pdf
581639_4Q 2022 Report.pdf