Yara International AsaOSL: YAR

SB1 Markets Energy Conference - February 2026

· Issued by Yara International ASA
Watch Yara International Asa explain itYara International Asa (YRAIF) Q2 2026 Earnings Call · Replay · Jul 17




‌Yara International ASA Magnus Krogh Ankarstrand EVP & CFO‌

SB1 Markets Energy Conference 25 February 2026



‌Yara's competitive edges driving sustainable value creation

Knowledge Margin

  • Sustained premiums - demonstrated Nutrient Use Efficiency

    Flexible energy and raw material sourcing

    • >75% of European finished nitrogen products flexible on ammonia source

      Operational Excellence

      • Strong asset footprint - continuous production records

        Scale and Global Optimization

        • Scalable logistic strongholds - fertilizer and ammonia

        • Optimized global flows - seasonality and cycles

‌Strong value trajectory looking forward

> 600 MUSD

sustainable cash flow expansion 2024-20301

2024

2026

2030

>180 MUSD fixed cost reduction With high drop-through impact on EBITDA

>350 MUSD EBITDA

improvement

Improve core profitability

Improved production margins Value accretive ammonia capacity expansion

Continued strict resource prioritization and active portfolio management

Continued tight nitrogen markets and lower European gas prices ‌Air Products and Yara projects are a strong strategic fit, with complementary synergies

  • Strong project economics

    • Low-cost gas exposure

    • Project scale

    • 45Q tax incentives

    • Early start in engineering, land and equipment

    • Low-carbon margin opportunities

  • Strong partner synergies

    • Yara's global ammonia position and infrastructure

    • Air Products' industrial gas capabilities and low-emission hydrogen

US Gulf

(from 2030)

LATAM

Pockets of low-carbon fertilizer demand

Europe



Yara is the key gateway to market

  • Yara's infrastructure critical- represents 50-80 USD/t cost advantage to other projects

  • Yara with own consumption need of ~1,5-2mt

  • CBAM drives carbon value into pricing

  • Regulatory demand for renewable ammonia drive

additional carbon value - partnerships growing

Neom

(from 2027)

Asia



Maturing partnerships and opportunities ‌Committed to sustainable value creation
  • today and beyond

    • Resilient business model with unmatched global production, market presence and competence

    • Asset base tuned for the future - difficult to replicate due to significant replacement cost

    • Diversified product portfolio serving differing farmer demand globally

    • 200 and 350 MUSD underlying EBITDA-improvement by 2027 and 2030, respectively

    • Flexible pathways to energy diversification and low-cost, low-carbon ammonia opportunities with strong financial returns

    • Business model ideally suited for capitalizing on potential future opportunities



    • Strong balance sheet and commitment to BBB/Baa2 credit rating

    • Committed to increasing Total Shareholder Returns and consistent distributions, with cyclical upside