Oslo,  30 June 2022: Today, Yara International ASA  ("Yara") will host a Capital
Markets  Day ("CMD") for Yara Clean Ammonia ("YCA" or the "Company"). During the
event,  members  of  YCA's  management  team  will  present  key features of the
Company,  including  its  strategy  and  growth  ambitions, as well as financial
parameters and targets for the future.

In  May 2022, Yara  announced that  it is  evaluating a potential initial public
offering  ("IPO") of YCA on the Oslo Stock Exchange. "While the decision to list
YCA will be made in due course, Yara is now excited to host an inaugural CMD for
YCA  to  showcase  their  exciting  story,"  said  Svein Tore Holsether, CEO and
President  of Yara. "YCA combines a  leading midstream business with exceptional
growth prospects and a value creating project portfolio."

Key highlights:

  * Clean ammonia represents a massive opportunity that is projected to drive
    exponential, long-term market growth [1].
  * YCA comprises existing cash flows from a market leading position [2] in a
    market expected to grow significantly [1], combined with an attractive
    project portfolio with future cash flow potential.
  * YCA is the #1 global ammonia midstream platform [2] with significant
    barriers to challenge YCA.
  * Strategic ambition to leverage and scale the current platform to capture a
    leading market share across the clean ammonia value chain.
  * The scalability of YCA's integrated ammonia platform provides a strong
    starting point for mid and downstream expansion.
  * Future clean ammonia production is supported by an attractive project
    portfolio, with significant investment decisions targeted over the next
    three years.
  * YCA's ambitious growth plan is expected to underpin profitable growth as
    clean ammonia market growth accelerates.
  * YCA benefits from a solid balance sheet and aims to establish a standalone
    capital structure that is independent from Yara.


Highly  attractive market opportunity. YCA, with its presence across the ammonia
value chain, is uniquely positioned to enable an energy transition where ammonia
is  expected to play a key  role in decarbonizing hard-to-abate sectors. Ammonia
is  expected  to  represent  a  superior  low-carbon  solution  in  four sizable
segments:  shipping  fuel,  power  generation,  agriculture,  and  as a hydrogen
carrier.  New applications  are projected  to be  exclusively supplied  by clean
ammonia  (i.e. blue and  green ammonia). Virtually  all clean ammonia volumes in
new   applications   are  likely  to  be  internationally  traded,  underpinning
exponential growth in the traded ammonia market, from 18 million tonnes in 2021
to a forecasted 238 million tonnes by 2050 [1].

Unrivalled starting point. YCA aims to leverage its competitive edge to enable a
complex  energy  transition,  connecting  upstream  projects  with  new customer
applications.   The   Company's   competitive   edge   is  based  on  three  key
differentiators that set YCA apart. First, YCA is the clear #1 player across the
global  ammonia value chain, based on its  market share in traded ammonia. YCA's
integrated  and  asset-backed  platform  offers  significant  scale  factors and
flexibility  related to  terminals [3]  and ammonia  vessels. Active  across the
value  chain from sourcing  to sales, the  Company has >20%  market share [2] in
traded  ammonia. Second,  YCA benefits  from a  multi-decade track record, and a
growth  plan based  on attractive  projects with  future cashflows, supported by
existing  earnings and  cash flows  from a  growing core business. The Company's
Earnings  Before Interest, Taxes, Depreciation,  and Amortization ("EBITDA") for
the  last  12 months  was  USD  159 million  as  per  Q1 2022 [4]. Third, strong
synergies and long-term backing from Yara underpin YCA's scale, integration, and
global  presence.  YCA  will  retain  its  interconnected  and  integral role in
handling  all ammonia from Yara's production system in order to optimize ammonia
flows to and from Yara plants.

Clear  strategic  ambition.  "From  this  position  of  strength,  YCA  aims  to
significantly  scale its leading global position  as the world's largest ammonia
platform,  driving the development of clean ammonia globally," said Magnus Krogh
Ankarstrand,  CEO of  YCA. "Bold,  long-term, trusted,  and reliable;  we aim to
partner  with likeminded  industry leaders  to unlock  the blue  and green value
chains."  The Company has defined a strategy of scaling its integrated midstream
platform  while expanding into the upstream and downstream segments of the clean
ammonia  value  chain.  Integration  across  the  value chain will remain a core
pillar  going forward as it supports  YCA's competitive edge with clear benefits
from scale factors and optimization.

Scalability  supports value accretive growth. YCA seeks to invest up to USD 400
million dollars to significantly increase its midstream capacity and establish a
downstream  presence  by  2030. The  midstream  growth  plan  includes selective
investments  in  terminals  and  vessels,  leveraging  the  scalability  of  the
Company's  existing platform, as  well as co-investments  and flexible ownership
models. YCA's commercial organization will spearhead the development of new end-
markets,  with a strategy focused on  close co-operation with key customers. The
Company's existing terminal access [3] and fleet network provide a head start to
develop  major bunkering hubs. This is  expected to be complemented by selective
investments in mobile bunkering solutions for last-mile distribution.

Robust upstream projects. Access to asset-backed production is a pivotal part of
YCA's competitive edge, underpinning its successful position as a global ammonia
distributor. Whereas existing ammonia plants will remain in Yara, YCA intends to
develop new clean ammonia production, also utilizing Yara's existing asset base.
YCA  is well-positioned  to succeed  in the  upstream segment with an attractive
project  portfolio. The  portfolio is  weighted towards  blue projects  in North
America  where the  Company is  exploring several  opportunities, in addition to
capital-light  conversion  of  existing  Yara  production in Europe. The project
portfolio  is  dimensioned  to  provide  asset-backed production of ~2.5 million
tonnes  of blue and green ammonia by 2030, with additional volumes expected from
third-party  offtake. YCA plans to invest  USD 1.5 - 1.8 billion in blue ammonia
production  by 2030. Combined,  these projects  are expected  to contribute ~2.1
million  tonnes of blue ammonia by 2030. The HEGRA project in Porsgrunn - likely
one  of the most competitive green projects  in Europe given its connection to a
fully  renewable grid and existing infrastructure  - may contribute ~0.4 million
tonnes  of ammonia by the end of  the decade. However, an investment decision on
HEGRA is subject to achieving a sufficient level of government support.

Well-defined  financial targets. YCA's growth investments across the value chain
underpin  a set of well-defined financial  targets anchored in profitable growth
as  the clean ammonia  market develops. Specifically,  YCA targets stable volume
development  in conventional applications in which  the Company aims to maintain
its  leading >20%  market share  [2] in  the traded  ammonia market. YCA further
targets  to  extend  its  market-leading  position  to the rapidly growing clean
ammonia  market.  Up  to  2030, the  Company  anticipates  that  it  will hold a
considerably  higher market share in clean ammonia, after which its market share
is  expected  to  normalize  towards  >20%  [2] as market growth accelerates. In
conventional applications, YCA targets EBITDA margins of >30 USD / tonne in line
with  2020 and 2021 performance. For new clean ammonia applications, the Company
aims for ~10 USD / tonne higher EBITDA margin than in conventional applications,
in  a  market  which  is  expected  to  grow  significantly.  This  is driven by
optimization  from  increased  scale  and  to  cover  additional  investments in
midstream  and  mobile  bunkering  solutions.  Finally, upstream investments are
subject to a hurdle rate of >=7% (after-tax real rate of return).

Solid  balance sheet and capital structure. Earlier in June 2022, Yara announced
plans  to separate its  Clean Ammonia business  into a separate and wholly-owned
subsidiary of Yara. Shortly after completion of this process, YCA is expected to
have  close to zero net interest-bearing  debt (excluding leases). YCA's balance
sheet  is further  strengthened by  a net  working capital balance significantly
above  normal levels given the currently high ammonia prices. Going forward, YCA
aims  to establish a standalone capital structure that is independent from Yara.
Over  the near to  mid term, the  Company expects to  maximize value creation by
executing  on its  growth plan.  Accordingly, YCA's  current intention is to re-
invest any cash flows that it may generate.


YCA  remains core to Yara's strategy and Yara will continue to provide long-term
backing  to  YCA  as  its  majority  owner  and  preferred partner. Yara remains
committed to its BBB rating and capital allocation policy with an average annual
capex  target  of  USD  1.2 billion  [5].  Yara  therefore  aims  to establish a
standalone  capital structure  for YCA,  where capital  expenditures in  YCA are
expected  to be  funded from  other sources,  including YCA's existing cash flow
generation, debt capacity and additional potential equity financing. However, in
accordance with IFRS, Yara's reported accounts will in addition to capex related
to  its target of USD 1.2 billion  [5] also include 100% of capital expenditures
in  YCA. Yara will provide a breakdown of  these capex components as part of its
quarterly reporting.


Webcast and presentation:

The Capital Markets Day will start at 09:00 CET.

The  online event will last approximately  three hours, including live Q&A, with
presenters  from YCA's management team, led  by Magnus Krogh Ankarstrand (CEO of
YCA) and Hallgeir Storvik (CFO of YCA).

The  event  will  be  accessible  via  webcast  using the below link, which also
includes the CMD presentations: https://www.yara.com/investor-relations/yca-cmd/

The presentation will be held in English.

Note  that the CMD presentations are comprised of two overlapping versions: i) a
"shortened"  version,  which  the  YCA  management  team will present during the
webcast;  and,  ii)  a  "full-length"  version,  which  includes the "shortened"
version along with additional slides.


Contacts:

Hallgeir Storvik
CFO, Yara Clean Ammonia
Mobile: +47 928 25 934
E-mail: hallgeir.storvik@yara.com (mailto:hallgeir.storvik@yara.com)

Silje Nygaard
Head of Investor Relations, Yara
Mobile: +47 957 04 843
E-mail: silje.nygaard@yara.com (mailto:silje.nygaard@yara.com)

Hilde Steinfeld
Communications Director, Yara Clean Ammonia
Mobile: +47 993 53 030
E-mail: hilde.steinfeld@yara.com (mailto:hilde.steinfeld@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 2021, Yara
reported revenues of USD 16.6 billion.
www.yara.com (http://www.yara.com)


About Yara Clean Ammonia (YCA)
Yara grows knowledge to responsibly feed the world and protect the planet. Yara
Clean Ammonia is uniquely positioned to enable the hydrogen economy in a market
expected to grow substantially over the next decades. We aim at significantly
strengthening our leading global position as the world's largest ammonia
distributor, unlocking the green and blue value chains, and driving the
development of clean ammonia globally.

Building on Yara's leading experience within global ammonia production,
logistics and trade, Yara Clean Ammonia works towards capturing growth
opportunities in low-emission fuel for shipping and power, carbon-free food
production and ammonia for industrial applications.

Yara Clean Ammonia operates the largest global ammonia network with 12 ships and
has access to 18 ammonia terminals and multiple ammonia production and
consumption sites across the world, through Yara. Revenues and EBITDA[6] for the
last 12 months were USD 3,037 million and USD 166 million respectively as per Q1
2022. Yara Clean Ammonia is headquartered in Oslo, Norway.
www.yaracleanammonia.com (http://www.yaracleanammonia.com)

End Notes:

[1]    Expected market developments based on Arkwright 2021 estimates.

[2]   Based on volumes of traded ammonia in 2021.

[3]   YCA has exclusive access, and manages and optimizes use of Yara's ammonia
tank infrastructure at terminals through sourcing and supply agreements with
Yara.

[4]   Financial figures are presented according to YCA's combined financials and
differ from Yara's segment reporting. See the CMD presentations that will be
made available today on Yara's website for further details.

[5]   See Yara's Integrated Report 2021 for further details

[6]   Financial figures are presented according to Yara's segment reporting and
is expected to deviate from YCA's combined financials as a stand-alone company.
For explanations, definitions and reconciliations of alternative performance
measures, see APM section in 1Q report, page 31-37.


Not  for release, publication or distribution, in  whole or in part, directly or
indirectly,  in or  into the  United States,  the United Kingdom, Australia, New
Zealand,  Canada or Japan. This announcement does not constitute or form part of
any  offer for sale  or solicitation of  any offer to  buy any securities in any
jurisdiction,  nor shall it or any part of it form the basis of, or be relied on
in  connection  with,  any  contract  or  commitment to purchase securities. Any
securities  referred to herein may  not be offered or  sold in the United States
absent  registration  under  the  US  Securities  Act  of  1933, as amended (the
"Securities Act") or another exemption from, or in a transaction not subject to,
the  registration requirements of the Securities Act. Any securities referred to
herein  have not been, and will not be, registered under the U.S. Securities Act
of  1933, as amended (the "Securities Act"), or the securities laws of any state
or  other jurisdiction of the  United States and any  such securities may not be
offered  or  sold  within  the  United  States except to qualified institutional
buyers  in reliance on an exemption  from registration under the Securities Act.
There will be no public offer of any securities referred to herein in the United
States.

The  information in this announcement is for general informational purposes only
and  must not be  relied upon for  any purpose and  is not intended to provide a
complete  or comprehensive  overview of  YCA, and  should be read in conjunction
with  the CMD presentations  that will be  made available later  today on Yara's
website.  No reliance may or  should be placed by  any person on the information
contained  in this announcement,  or on its  completeness, accuracy or fairness.
The content of this announcement is not prescribed by applicable securities laws
in  any jurisdiction. This announcement includes forward-looking statements. All
statements  other  than  statements  of  historical  fact  referred  to  in this
announcement  are  forward-looking  statements.  Forward-looking  statements are
given only as of the date of this announcement and, except as may be required by
law,  Yara  and  YCA  are  under  no  obligation to provide any update. By their
nature,  forward-looking statements involve a number of risks, uncertainties and
assumptions which could cause actual results or events to differ materially from
those  expressed or implied  by the forward-looking  statements, and these risks
could adversely affect the outcome and financial effects of the plans and events
described  herein.  Forward-looking  statements  contained  in this announcement
regarding past trends or activities should not be taken as a representation that
such trends or activities will continue in the future.


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

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