Yara International : 3Q 2021 Presentation

Yara International ASA 2021 Third quarter results

20 October 2021

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 words such as "aims", "anticipates", "believes", "estimates", "expects", "foresees", "intends", "plans", "predicts", "projects", "targets", and similar expressions. Such forward-looking statements are based on current expectations, estimates and projections, reflect current views with respect to future events, and are subject to risks, uncertainties and assumptions. Forward-looking statements are not guarantees of future performance, and risks, uncertainties and other important factors could cause the actual business, financial performance, results or the industry and markets in which Yara operates to differ materially from the statements expressed or implied in this presentation by such forward-looking statements. No representation is made that any of these forward-looking statements or forecasts will come to pass or that any forecasted results will be achieved, and you are cautioned not to place any undue reliance on any forward-looking statements.

2

Our ambition is zero injuries

5

4

People 3

2

1

TRI1 (12-month rolling)

1.1

0

1Q16

1) Total Recordable Injuries per 1 million working hours

3Q21

3

Improved returns demonstrate business model resilience

ROIC1 12M rolling
ROIC 12M rolling
Salitre impairment2 (2.3 pp)	7.9 %	8.3%
	6.1 %
3.7 %
3Q	3Q	3Q	3Q
2018	2019	2020	2021

• Improved returns reflecting higher prices
• 8.3% ROIC1, up from 7.9% a year earlier
• ~40% ammonia curtailment in Europe

1)	For definition and reconciliation of ROIC, see APM section in 3Q report, page 31	4
2)	Effect of Salitre impairment on 3Q21 ROIC: calculated by increasing NOPAT by 266 MUSD (impairment of 355 MUSD with a 25% tax rate). This implies a ROIC excluding Salitre impairment of 10.6%

(NOPAT: 1,206 MUSD divided by invested capital of 11,353 MUSD).

Natural gas spike in Europe has triggered significant curtailments and driven up global nitrogen prices

Curtailed production capacity

Ammonia production capacity p.a. in million tons

Curtailed In operation

4.8

1.93.6

 Yara Europe ammonia curtailments currently amount

to around ~40% of capacity

 High Yara flexibility; unprofitable production curtailed

and replaced with sourcing, from other Yara plants

and from global trade

 Limited impact on finished fertilizer production to date;

Yara is closely monitoring the situation going forward

2.9

3.6

 Yara is committed to supplying customers provided

sufficient margins are available

Europe

Other regions

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