Yara confirms US ammonia strategy in line with capital allocation policy

08 Dec 2025 08:04 CET

Yara and Air Products announced today
(link: https://newsweb.oslobors.no/message/661437) advanced negotiations to
partner on low-emission ammonia projects.

Yara has matured a project portfolio for potential investment in cost
competitive US ammonia to diversify its energy position and increase
competitiveness of its European nitrate production, enabling robust returns.

As emphasized in recent quarter releases, Yara will execute potential US
projects in line with its capital allocation policy and the potential
partnership with Air Products would be consistent with this. Yara has indicated
an average capex level of approximately 1.2 billion USD (real) throughout the
cycle, as well as an annual maintenance capex level between 700-850 million USD.
During project execution 2026-2030 and up until the closing would take place,
Yara will be restrictive on other growth projects, maintaining strict capital
discipline and enabling shareholder distributions.

A final investment decision is targeted mid-2026.

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

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
17,000 employees and operations in more than 60 countries, sustainability is an
integral part of our business model. In 2024, Yara reported revenues of USD 13.9
billion.

www.yara.com

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