Yara reports improved earnings

25 Oct 2024 08:00 CEST

Yara reports third-quarter EBITDA excluding special items(1) of USD 585 million
compared with USD 396 million in third quarter 2023. Net income was USD 286
million compared with USD 2 million a year earlier.

Third-quarter 2024 highlights:

* EBITDA excluding special items(1) of 585 MUSD
* Strong premium(1) generation
* All-time high production performance(2)
* Returns improving but still below target, cost and portfolio optimization
continues

"Yara is delivering all-time high production performance and strong premiums
this quarter, a testament to the robustness of our operations and the value of
our core business," said Svein Tore Holsether, President and Chief Executive
Officer.

Sustainable profitability in core operations and value-accretive growth
opportunities are both critical to enable a fit-for-future Yara. While Yara has
successfully navigated recent volatility by focusing on operational continuity,
recent returns have been below satisfactory levels. Yara is therefore taking
action to improve profitability, including a stricter prioritization towards
core operations and high-return assets, while scaling back non-core and lower-
return activities. This includes performing an asset portfolio review with the
aim to prioritize and optimize its portfolio to ensure a fit-for-future asset
base.

"Returns are improving, and I am confident that we will succeed with the
necessary changes to ensure sustainable profitability and increase shareholder
returns through our sharpened focus on our core operations and value-accretive
growth, " said Holsether.

Link to report, presentation, and webcast on 25 October 2024, at 12:00 CEST:
https://www.yara.com/investor-relations/latest-quarterly-report/

1) See pages 24-32 of the 3Q 2024 Report for definitions, explanations, and
reconciliations of Alternative performance measures (APMs).

2) In YIP production terms, excluding Montoir volumes.

Contact
Maria Gabrielsen
Head of Investor Relations
M: +47 920 900 93
E: maria.gabrielsen@yara.com (mailto:maria.gabrielsen@yara.com)

Tonje Næss
Media contact
M: +47 408 446 47
E: tonje.nass@yara.com (mailto:tonje.nass@yara.com)

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act. This stock exchange
announcement was published by Maria Gabrielsen, Head of Investor Relations, at
Yara International ASA, on 25 October 2024 at 08:00 CEST.

About Yara

Yara's mission is to responsibly feed the world and protect the planet. We
pursue a strategy of sustainable value growth through reducing emissions from
crop nutrition production and developing low-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 drive the green shift in fertilizer production, shipping, and other energy
intensive industries, Yara will produce ammonia with significantly lower
emissions. We provide digital tools for precision farming and work closely with
partners at all levels of the food value chain to share knowledge and promote
more efficient and sustainable solutions.

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. With
18,000 employees and operations in more than 60 countries, sustainability is an
integral part of our business model. In 2023, Yara reported revenues of USD
15.5 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

630386_Yara 3Q 2024 Presentation.pdf
630386_Yara 3Q 2024 Report.pdf