Yara International Asa · OSL:YAR
Yara International Asa — Non-Deal Roadshow (September 2026)
29 slides from Yara International Asa's roadshow presentation, September 2026
Slide 1: Investor trip Porsgrunn
Investor trip Porsgrunn September 2026
Slide 2: Cautionary note
Cautionary note This presentation contains forward-looking information and statements relating to the business, financial performance and results of Yara and/or industry and markets in which it operates. Forward-looking statements are statements that are not historical facts and may be identified by
Slide 3: Agenda
Agenda 01 | Maximising Yara’s global asset portfolio EVP Global Production, Johan Labby 02 | Porsgrunn deep-dive Plant Manager, Arve Jordal 03 | Market perspective Director Market Intelligence, Silje Ingeberg Nygaard 04 | Capital allocation EVP & CFO, Magnus Krogh Ankarstrand 3
Slide 4: Maximising Yara's global asset portfolio
Section 1| Maximising Yara’s global asset portfolio Johan Labby 4
Slide 5: Safety is our license to operate
Safety is our license to operate Zero injuries ambition | Industry leading performance TRI1, 2, L12M 9 8.0 8 7 6 5 4 3.3 3 2 1.2 1 0 1Q 2016 2Q 2026 1) Total Recordable Injuries per 1 million hours worked 2) Benchmark based on the companies’ Annual Reports or Sustainability reports 2024 5
Slide 6: Global, high-performing asset portfolio
Global, high-performing asset portfolio Ammonia and finished product production Finished product production and/or other Ammonia import flexibility ~95% nitrate North America: asset utilization1 Low-cost gas and in-market premiums High performing assets in Asia supporting local Latin America: Strate
Slide 7: Diversified asset portfolio across regions and products
Diversified asset portfolio across regions and products Finished products global capacities1, mt per year Porsgrunn 3.7 Global Plants: 7.4 mt Other2 Sluiskil 3.6 Rostock 1.8 13% Uusikaupunki 1.4 Glomfjord 0.9 Urea 25% 62% Europe: 7.1 mt Ravenna 0.7 Nitrates Ferrara 0.6 (incl. NPK) Tertre 0.6 Siilinj
Slide 8: Production system integral to Yara's improvement agenda
Production system integral to Yara’s improvement agenda Yara’s strategic priorities Targeted EBITDA uplift, MUSD Maximize • Further improved production reliability asset • De-bottlenecking at limited capex utilization • Leverage production and sourcing flexibility Maximize • Increase EU market share
Slide 9: Better reliability and utilization gives more tonnes from the existing asset base
Better reliability and utilization gives more tonnes from the existing asset base Actual production finished fertiliser | in kt 2030 ambition and plan to achieve it +1 mt in actual production 2023 17.9 • Debottlenecking assets • Nitric acid capacity uplift feeding nitrate and NPK volumes 2024 19.4 •
Slide 10: Supply chain scale and flexibility core to logistics optimization
Supply chain scale and flexibility core to logistics optimization Sourcing scale across gas, ammonia and P&K One of the largest raw material buyers in the industry, securing competitive terms across a broad geographical footprint, also amidst geopolitical shocks Global integration and footprint crea
Slide 11: Flexible European asset footprint
Flexible European asset footprint European Nitrate/NPK footprint largely operating on imported ammonia, annual capacities1, mt 0.6 0.7 Finished 0.7 products 3.7 0.2 1.9 1.7 1.4 0.9 0.7 0.7 0.4 0.6 0.6 0.5 0.4 0.3 Sluiskil Porsgrunn Rostock UusikaupunkiGlomfjord Ravenna Tertre Siilinjärvi Ambes Kopin
Slide 12: Prioritized capital, record output
Prioritized capital, record output Share of maintenance investment Share of cash flow generation Porsgrunn Finnish system Belle Plaine mt, finished product 73% 3.56 3.69 3.70 1.82 1.83 1.89 3.35 3.18 1.65 1.72 1.32 1.27 1.28 1.32 1.08 48% 2022 2023 2024 2025 L12M 2022 2023 2024 2025 L12M 2022 2023 2
Slide 13: Porsgrunn deep-dive
Section 2| Porsgrunn deep-dive Arve Jordal 13
Slide 14: Yara Porsgrunn – Yara's largest premium product plant
Yara Porsgrunn – Yara’s largest premium product plant Ammonia NPK plants Technology Nitric Acid plants Ammonia (1965, 1967) (1938, 1968, 1987) Centre (1928, 1972, 1991, 2018) storage Raw material quay & CN plant Storage and bagging Storage for NPK for CN storage (1929) 14
Slide 15: Leading the way
Leading the way Scale and Global Flexible energy and raw Operational excellence Optimization material sourcing Yara’s largest & most profitable proud and highly competent flexible ammonia production: #1 premium production asset 500 employees import vs own production 19% of total Yara’s finished prod
Slide 16: A world-class asset, and getting stronger
A world-class asset, and getting stronger Increased production through Improved capital productivity Strong value creation debottlenecking existing asset +517 3,561 3,691 3,696 >250 Cumulative value of volume increase -7% 3,179 MUSD since 20233 32.2 30.3 29.5 29.9 Plant level ROIC4, 18% 2Q 2026 2023
Slide 17: Strengthening returns further through capital-light investments
Strengthening returns further through capital-light investments Increasing scale and Increased nitric acid capacity NPK capacity growth program flexibility in ammonia • Nitric acid a key intermediate product • Removing bottlenecks through capital • Quayside investments to be able to for all nitrate-
Slide 18: Serving premium markets globally
Serving premium markets globally Premium fertilizer exports to 90+ countries1 United States Other Brazil China Mexico Spain Thailand UK ~150 Average NPK premium over USD/t commodity fertilizer blend2 1) CN and NPK sales 2) Average NPK premium since 2021
Slide 19: Market perspective
Section 3| Market perspective Silje Ingeberg Nygaard 19
Slide 20: Substantial supply losses in 2026
Substantial supply losses in 2026 Apparent consumption: production ex. China + Chinese exports Million tons urea 145 140 350 Prices fob Arab Gulf: • Substantial supply losses in 135 249 416 2026 owing to the conflict 130 340 YTD actual: in the Middle East ~550 USD/t 519 • Beyond trade disruptions; 6
Slide 21: Key current market themes
Key current market themes Middle East conflict China urea exports, kt India urea imports, kt Urea exports through Strait of Hormuz 5,000 > Mt urea (bubbles: % share of world trade) 2024 24/25 4,000 10,000 2025 25/26 8,000 40% 3,000 2026 26/27 33% 34% 6,000 31% 30% 2,000 20% 4,000 1,000 2,000 10% 0%
Slide 22: Capital allocation
Section 4| Capital allocation Magnus Krogh Ankarstrand 22
Slide 23: Solid improvement in key financial metrics
Solid improvement in key financial metrics EBITDA ex SI Free Cash Flow2 ROIC L12M, In MUSD L12M, In MUSD L12M, % 3,315 14% 919 10% 1Q24 2Q26 1Q24 2Q26 1Q24 2Q26 1) For definition and reconciliation see APM section in the 2Q report, pages 29-36. 23 2) Free Cash Flow calculated as net cash provided by
Slide 24: Strong value trajectory looking forward
Strong value trajectory looking forward 2024 2026 2030 >350 MUSD EBITDA improvement >180 MUSD fixed cost reduction Improve core profitability > 600 MUSD With high drop- through impact on Improved production margins sustainable EBITDA Value accretive ammonia capacity expansion cash flow expansion Con
Slide 25: Delivering on strategic priority to structurally improve energy exposure
Delivering on strategic priority to structurally improve energy exposure and be fully integrated on gas to finished products Yara’s energy exposure post GCA acquisition Portfolio optimization by adding ammonia Non-hub gas exposure averaging 7 USD/MMBtu TTF linked ammonia production for nitrates 20%
Slide 26: Improvement program and strategic projects lifting through-the-cycle EPS
Improvement program and strategic projects lifting through- the-cycle EPS EPS1 sensitivity to gas and urea prices | Path to through-the-cycle EPS1 | USD/share USD/share Based on 2025 prices Urea price → Gas price ↓ 300 400 500 5.5 4.4 6 ~3.4 ~6.1 ~8.7 9.5 ~2.4 ~5.0 ~7.7 2025 2027 2030 EPS GCA mid- O
Slide 27: Yara's business model brings more stable earnings relative to commodity cycles
Yara’s business model brings more stable earnings relative to commodity cycles 1,500 1,500 Nitrogen industry is a cyclical business Yara’s earnings mostly correlated to cyclicality of nitrogen prices 1,000 1,000 Premiums soften down-cycles vs pure commodity MUSD USD/t Premiums dampen the trough in d
Slide 28: Committed to sustainable value creation - today and beyond
Committed to sustainable value creation - today and beyond • Resilient business model with unmatched global production, market presence and competence • Safe, reliable operations and strong culture of operational excellence • Asset base tuned for the future – difficult to replicate due to significan
Slide 29: Have a safe day!
Have a Safe day! Knowledge grows
Yara International — Non-Deal Roadshow (September 2026) on 6ix