Interim report
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• EBITDA excluding special items1 of 675 MUSD and ROIC1 of 13.5% • European nitrate volume rebound in the quarter – global 2027 season buying significantly behind previous years • Higher gas prices and continued deferred demand weighed on margins and deliveries for the quarter • Strong focus on cost control, improving reliability and accelerating the EBITDA improvements • Gulf Coast Ammonia acquisition will increase gas diversification upon closing2 Highlights1 USD millions, except where indicated otherwise 3Q 2026 3Q 2025 YTD 2026 YTD 2025 Revenue and other income 4,478 4,108 13,165 11,703 Operating income/(loss) 379 470 1,724 1,129 EBITDA 697 770 2,663 1,981 EBITDA excl. special items 675 804 2,477 2,094 Net income/(loss) 199 320 1,071 1,028 Average number of shares outstanding (millions) 254.7 254.7 254.7 254.7 Basic earnings/(loss) per share3 0.78 1.25 4.19 4.03 Adjusted earnings/(loss) per share excl. foreign currency exchange gain/(loss)3 0.97 1.22 4.75 2.90 Adjusted earnings/(loss) per share excl. foreign currency exchange gain/(loss) and special items3 0.95 1.33 4.26 3.25 Net cash provided by/(used in) operating activities 365 343 1,571 1,551 Net cash provided by/(used in) investing activities (200) (216) (539) (644) Net debt / equity ratio 0.32 0.39 Net debt / EBITDA excl. special items (last 12 months) ratio 0.93 1.27 Return on invested capital (ROIC)4 13.5 % 8.0 % Key statistics Thousand tonnes, except energy prices 3Q 2026 3Q 2025 YTD 2026 YTD 2025 Yara production Ammonia 1,511 1,870 4,724 5,333 Finished fertilizer and industrial products, excl. bulk blends 4,897 5,301 14,413 15,078 Yara deliveries Ammonia trade 458 465 1,316 1,390 Fertilizer 5,786 6,036 16,969 18,065 Industrial Product 1,595 1,672 4,624 4,824 Total deliveries 7,839 8,173 22,909 24,278 Yara’s Energy prices (USD per MMBtu) Global weighted average gas cost5 12.9 9.5 11.5 10.1 European weighted average gas cost 16.6 12.7 14.8 13.5 1 For definition and reconciliation, see section Alternative performance measures (APMs). 2 Completion of the acquisition is subject to customary closing conditions, including receipt of relevant regulatory approvals. 3 USD per share. Yara currently has no share-based compensation programs resulting in a dilutive effect on earnings per share. 4 Year-to-date numbers are calculated using a 12-month rolling average. 5 Excluding Babrala.
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2 Yara Third-Quarter Report 2026 Variance analysis USD millions 3Q 2026 YTD 2026 EBITDA 2026 697 2,663 EBITDA 2025 770 1,981 Reported EBITDA variance (73) 682 Special items variance (see table “Special items” for details) 56 299 EBITDA variance excl. special items (129) 383 Volume/Mix (40) (245) Margin (70) 695 Fixed costs (excl. currency effects) (4) 6 Other (15) (71) Total variance explained (129) 383 Third quarter Yara’s third-quarter EBITDA excluding special items was USD 675 million, 16% lower than in the same quarter a year ago, as higher European gas costs and lower deliveries more than offset higher prices. Total deliveries were 4% lower than in the same quarter a year ago, mainly reflecting lower deliveries in Americas and Africa & Asia, due to planned maintenance and lower demand, partly offset by a recovery in European premium product deliveries towards the end of the quarter. Europe EBITDA excluding special items was USD 73 million, 62% lower than in the same quarter a year ago. Higher realized prices were more than offset by higher feedstock costs, and lower profitability in the phosphate value chain in Finland following an unplanned outage. Total deliveries were 2% higher than in the same quarter a year ago with a strong catch-up towards the end of the quarter. Americas EBITDA excluding special items was USD 155 million, 38% lower than in the same quarter a year ago, mainly reflecting lower commercial margins in Brazil and lower deliveries. Total deliveries were 5% lower than in the same quarter a year ago, with lower deliveries in Brazil and planned maintenance in Belle Plaine, Canada during summer. Africa & Asia EBITDA excluding special items was USD 47 million, 29% lower than in the same quarter a year ago, reflecting downstream margin compression amid low cash-crop affordability, and a maintenance stop at Babrala, India, partly offset by higher premium product deliveries. Total deliveries were 13% lower, mainly due to lower commodity deliveries and lower urea deliveries from the Babrala plant in India. Global Production EBITDA excluding special items was USD 106 million, 50% lower than in the same quarter a year ago, mainly reflecting higher European gas costs and lower volumes, partly offset by higher nitrogen prices. Production output for finished products was 8% below the same quarter last year due to unplanned outages and planned maintenance. Clean Ammonia EBITDA excluding special items was USD 71 million, up USD 41 million from the same quarter a year ago, reflecting higher ammonia prices and margins. Total external deliveries were 2% lower than in the same quarter a year ago, while more third-party product was sourced following the Pilbara outage. Industrial Solutions EBITDA excluding special items was USD 96 million, 9% lower than in the same quarter a year ago. Higher market prices more than offset by higher gas cost and lower volumes. Total deliveries were 5% lower than in the same quarter a year ago, mainly reflecting lower gypsum and sulfuric acid volumes following portfolio optimization.
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3 Yara Third-Quarter Report 2026 Year to date Yara’s year-to-date EBITDA excluding special items was USD 2,477 million, 18% higher than in the same period a year ago, as enhanced margins in the first half, continued progress on improvement initiatives and cost discipline more than offset higher gas costs in the third quarter. Total deliveries were 6% lower than in the same period a year ago, reflecting low off-season demand in the second quarter, lower deliveries in Brazil and planned maintenance. Europe EBITDA excluding special items was USD 508 million, 6% higher than in the same period a year ago. Higher fertilizer prices and premiums more than offset higher feedstock costs, which weighed particularly on the third quarter. Total deliveries were 4% lower compared with the same period a year ago, reflecting low off-season demand in the second quarter, partly offset by a catch-up in the third quarter. Americas EBITDA excluding special items was USD 593 million, 8% lower than in the same period a year ago, as lower commercial margins in Brazil and planned maintenance in Belle Plaine, Canada during summer more than offset higher margins in the first half. Total deliveries were 4% lower than in the same period last year, mainly driven by lower demand and the planned maintenance in Belle Plaine, Canada. Africa & Asia EBITDA excluding special items was USD 132 million, 36% lower than in the same period a year ago, reflecting continued margin pressure in key Asian markets and lower deliveries. Total deliveries were down 15%, mainly following lower third-party urea deliveries and the Babrala maintenance stop, partly offset by higher premium product deliveries in the third quarter. Global Production EBITDA excluding special items was USD 664 million, 49% higher than in the same period a year ago, mainly reflecting strong upgrading margins in the first half, partly offset by higher European gas costs and planned maintenance in the third quarter. Production output for finished products was 4% below the same period last year due to unplanned outages and planned maintenance. Clean Ammonia EBITDA excluding special items was USD 153 million, up USD 77 million from the same period a year ago, reflecting higher ammonia prices. Total external deliveries were 5% lower than in the same period a year ago, mainly due to reduced availability from Pilbara, Australia. Industrial Solutions EBITDA excluding special items was USD 409 million, 44% higher than in the same period a year ago, reflecting improved margins supported by higher market prices. Total deliveries were 4% lower than in the same period a year ago.
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4 Yara Third-Quarter Report 2026 Production volumes Thousand tonnes 3Q 2026 3Q 2025 YTD 2026 YTD 2025 Ammonia 1,511 1,870 4,724 5,333 Urea 1,067 1,263 3,205 3,535 Nitrates 1,525 1,576 4,366 4,527 NPK 1,585 1,754 4,634 4,831 CN 393 363 1,136 1,100 UAN 215 224 625 688 SSP 35 24 157 94 SOP 53 59 166 168 Feed Phosphate 23 38 124 135 Total Finished Products 4,897 5,301 14,413 15,078 Deliveries Crop Nutrition deliveries Thousand tonnes 3Q 2026 3Q 2025 YTD 2026 YTD 2025 Urea 981 1,180 3,341 4,109 Nitrate 1,253 1,166 3,484 3,583 NPK 2,068 2,305 5,872 6,367 of which Yara-produced compounds 1,520 1,642 4,477 4,728 of which blends 548 664 1,395 1,639 CN 385 402 1,373 1,348 UAN 235 239 701 772 DAP/MAP/SSP 98 129 288 296 MOP/SOP 495 285 971 642 Other products 272 329 939 949 Total Crop Nutrition deliveries 5,786 6,036 16,969 18,065 Europe deliveries Thousand tonnes 3Q 2026 3Q 2025 YTD 2026 YTD 2025 Urea 163 174 602 647 Nitrate 1,000 934 2,804 2,895 NPK 536 526 1,876 1,901 of which Yara-produced compounds 524 506 1,764 1,777 CN 74 95 305 346 Other products 328 342 1,023 1,074 Total deliveries Europe 2,102 2,070 6,609 6,863
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5 Yara Third-Quarter Report 2026 Americas deliveries Thousand tonnes 3Q 2026 3Q 2025 YTD 2026 YTD 2025 Urea 393 425 1,486 1,634 Nitrate 227 216 572 595 NPK 1,167 1,426 2,820 3,333 of which Yara-produced compounds 694 860 1,746 2,046 of which blends 473 566 1,074 1,287 CN 251 251 891 839 DAP/MAP/SSP 89 109 269 264 MOP/SOP 479 266 914 582 Other products 154 206 566 591 Total deliveries Americas 2,759 2,900 7,518 7,838 of which North America 472 526 2,021 2,214 of which Brazil 1,842 1,910 4,221 4,278 of which Latin America excl. Brazil 445 464 1,275 1,346 Africa & Asia deliveries Thousand tonnes 3Q 2026 3Q 2025 YTD 2026 YTD 2025 Urea 424 581 1,254 1,827 Nitrate 27 17 108 94 NPK 365 353 1,176 1,133 of which Yara-produced compounds 301 276 967 905 CN 59 55 177 163 Other products 49 59 127 142 Total deliveries Africa & Asia 925 1,066 2,842 3,357 of which Asia 756 839 2,283 2,728 of which Africa 169 227 559 629 Industrial Solutions deliveries Thousand tonnes 3Q 2026 3Q 2025 YTD 2026 YTD 2025 Ammonia¹ 79 106 259 329 Urea¹ 430 383 1,203 1,107 Nitrate² 390 390 1,071 1,043 CN 46 48 124 128 Other products³ 156 240 492 734 Water content in industrial ammonia and urea 494 506 1,474 1,482 Total Industrial Solutions deliveries 1,595 1,672 4,624 4,824 1 Pure product equivalents. 2 Including AN Solution. 3 Including sulfuric acid and other minor products.
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6 Yara Third-Quarter Report 2026 Financial items USD millions 3Q 2026 3Q 2025 YTD 2026 YTD 2025 Interest income and other financial income 12 12 43 28 Foreign currency exchange gain/(loss) (64) 14 (180) 386 Interest expense (57) (68) (166) (172) Other (7) (6) (15) (17) Interest expense and other financial items (64) (74) (181) (189) Net financial income/(expense) (116) (48) (318) 225 Third quarter The variance in financial items is mainly explained by a net foreign currency exchange loss of USD 64 million this quarter, compared with a gain of USD 14 million in the same period a year earlier. In this quarter, the appreciation of the Norwegian krone vs. the euro generated a loss on Yara’s internal funding position that was only partly offset by a gain on the US dollar denominated debt positions. In the same quarter a year ago, a loss on the internal funding positions was more than offset by a gain on the US dollar debt positions. Yara’s accounting policy regarding foreign currency transactions is described on page 195 in the Annual report for 2025. The reduction in interest expense reflects a gross debt around USD 350 million lower than in the same quarter a year ago and a change in the fair value of the interest rate derivatives used to convert Yara’s fixed rate bond debt to floating rate. At the end of the third quarter, the US dollar denominated debt position generating currency effects in the Statement of income was approximately USD 1,900 million, with around three-quarters of the exposure towards the Norwegian krone and the rest mainly towards emerging market currencies. Year to date Net financial expense for the first nine months was USD 318 million, compared with a net financial income of USD 225 million in the same period a year ago. The variance is primarily explained by a net foreign currency exchange loss this period vs. a gain in the same period a year earlier. The foreign currency exchange loss this year stems from the internal funding positions in euro vs. the Norwegian krone as the Norwegian krone has appreciated. Last year’s gain stemmed from the US dollar denominated debt positions as the US dollar depreciated against most of Yara’s other main currencies. Cash flow Third quarter Yara’s third-quarter operating cash flow increased by USD 22 million compared with the same quarter last year. The increase was driven by a smaller negative cash flow effect from net working capital, which more than offset lower operating income. The net working capital development mainly reflected a release of inventories and a smaller reduction in payables than a year earlier. Yara’s investing cash outflow decreased by USD 16 million, with USD 22 million in sales of EUAs offsetting an otherwise slight increase compared with last year. Yara’s cash outflow from financing activities decreased by USD 41 million due to lower net loan repayments this year. Year to date Yara’s operating cash flow for the first nine months increased by USD 20 million compared with the same period last year. The increase was driven by higher operating income, partly offset by a more negative cash flow effect from net working capital. Yara’s investing cash outflow decreased by USD 105 million compared with last year, with USD 179 million in sales of EUAs this year. Yara’s cash outflow from financing activities increased by USD 773 million due to higher principal repayments and dividend payments this year.
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7 Yara Third-Quarter Report 2026 Variance analysis methodology In order to track underlying business developments from period to period, Yara’s management uses a variance analysis methodology (“variance analysis”) that involves the extraction of financial information from the accounting system, as well as statistical and other data from internal management information systems. Management considers the estimates produced by the variance analysis, and the identification of trends based on such analysis, sufficiently precise to provide useful data to monitor the business. However, these estimates should be understood to be less than an exact quantification of the changes and trends indicated by such analysis. The variance analysis presented in Yara’s quarterly and annual financial reports is prepared on a Yara EBITDA basis including net income/(loss) in equity-accounted investees. The volume, margin and other variances presented therefore include effects generated by performance in equity-accounted investees.
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8 Yara Third-Quarter Report 2026 Outlook Yara operates a global, flexible production system that delivers a diversified portfolio of nitrogen-based products. With our extensive global market reach and more than a century of agronomic knowledge and continuous innovation, we partner across the value chain to improve crop yields, optimize resource use, and reduce environmental impact. With our global operations, leading crop nutrition solutions, and ammonia positions, Yara is uniquely positioned to navigate volatility, capitalizing on its operational flexibility while also driving and creating strong shareholder value. At the January 2026 Capital Markets Day, Yara introduced the next phase of its improvement program, targeting an incremental USD 200 million EBITDA improvement by the end of 2027 and a further USD 150 million EBITDA improvement by the end of 2030. These improvements will be achieved through enhanced asset utilization, logistical optimization, targeted market opportunities, and disciplined capital reallocation. As of 3Q 2026, Yara has delivered improvements adding to a USD 60 million EBITDA uplift compared to 3Q 2025 on a last twelve months basis. In July 2026, Yara announced the acquisition of Gulf Coast ammonia plant, delivering on its strategic priority to diversify energy exposure and strengthening long-term competitiveness and returns. The acquisition brings a cost competitive plant into Yara’s portfolio, providing an attractive entry to value accretive ammonia production at limited operational and financial risk. With this acquisition, Yara moves from being a predominantly European exposed gas consumer to having an equal exposure towards Henry Hub, with new production capacity enhancing Yara’s strategic flexibility for further ammonia optimization. Yara expects closing the transaction by the end of 2026. Nitrogen markets had a slow start to the new season. Uncertainty around the Middle East conflict, combined with Chinese exports and Indian imports as the two largest swing factors for the global nitrogen balance, led buyers to hold back from taking positions at the start of the third quarter. Yara saw buying activity, particularly in Europe, picking up towards the end of the quarter, and Yara exits the quarter with a European order book stronger than normal for this time of year. Buying for the 2027 season was slow across all key nitrogen markets in 3Q, with imports and deliveries in Europe, the US and Latin America lagging last year’s levels. Chinese exports are nearing the end of their export window, while India failed to attract the target volumes in their latest tender due to a low bid price. Combined with the Northern Hemisphere season approaching, a significant share of seasonal purchasing therefore remains to be done for the first full season with reduced supply from the Middle East, where also higher crop prices have improved farmer affordability compared to last season. During the third quarter, Yara responded to high European gas prices by curtailing 150 kt of ammonia and 115 kt of finished products, mainly at its Ferrara plant in Italy. Approximately 50% of Yara’s European ammonia production is integrated with urea production, most of which is used to produce industrial urea and Amidas (fertilizer urea with sulphur), for which margins remained positive during the quarter. Yara uses its flexible business model to optimize product flows, closely monitor margins, and adjust production as appropriate. As of 16 October, curtailments were running at 270 kt of ammonia (including 180 kt of non- integrated ammonia) and 140 kt of finished products per quarter. Yara can curtail up to approximately 1 mt of European ammonia production capacity annually without affecting finished product output, owing to surplus ammonia from integrated plants and ammonia produced for nitrates in Sluiskil. Yara has demonstrated the resilience of its business model and is uniquely positioned to navigate volatility and to optimize and adapt in environments with amplified regional price and demand volatility. Amidst continued market volatility and market uncertainty, Yara remains fully committed to strengthening earnings quality by delivering on its EBITDA improvements and maintaining strict capital discipline with stringent return requirements. According to CRU, forecasted capacity additions ex. China are comparable to historic demand growth, assuming no delays, all new capacity runs at full capacity utilization, and not considering any replacement need. This indicates a continued tight global supply and demand balance in the coming years ex China. Based on current forward markets for natural gas (13/10/2026) and on a volume-neutral basis, Yara’s gas cost for fourth quarter 2026 and first quarter 2027 is estimated to be USD 450 million higher and USD 445 million higher than a year earlier. These estimates may change depending on future spot gas prices and local terms. Reduced gas consumption due to any ammonia curtailments will not be reflected in the volume-neutral gas guidance and would need to be modelled through a volume impact.
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9 Yara Third-Quarter Report 2026 Yara’s capital allocation policy is based on an overall objective of maximizing value creation for shareholders and maintaining a mid-investment grade credit rating, with a targeted capital structure consisting of a mid-to-long term net debt/EBITDA excl. special items1 rate of 1.5-2.0, and a net debt/equity ratio below 0.60. At the end of third quarter, Yara’s net debt/EBITDA excl. special items1 is 0.93 and net debt/equity ratio1 is 0.32, reflecting a strong balance sheet. 1 For definition and reconciliation, see section Alternative performance measures (APMs).
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10 Yara Third-Quarter Report 2026 Condensed consolidated interim statement of income USD millions Notes 3Q 2026 3Q 2025 YTD 2026 YTD 2025 2025 Revenue 5 4,452 4,107 12,937 11,675 15,623 Other income 5 26 1 227 28 92 Revenue and other income 4,478 4,108 13,165 11,703 15,715 Raw materials, energy costs and freight expenses (3,547) (3,023) (9,544) (8,473) (11,285) Change in inventories of own products 182 124 300 65 77 Payroll and related costs (340) (329) (1,064) (1,063) (1,418) Depreciation and amortization 7 (288) (283) (864) (803) (1,084) Impairment loss 7 (13) (1) (23) (7) (16) Expected and realized credit loss on trade receivables (4) (1) (7) (5) (5) Other operating expenses (87) (124) (240) (288) (413) Operating costs and expenses (4,099) (3,638) (11,441) (10,574) (14,143) Operating income/(loss) 379 470 1,724 1,129 1,571 Share of net income/(loss) in equity- accounted investees 4 4 9 14 17 Interest income and other financial income 12 12 43 28 66 Foreign currency exchange gain/(loss) (64) 14 (180) 386 383 Interest expense and other financial items (64) (74) (181) (189) (259) Income/(loss) before tax 267 426 1,415 1,368 1,778 Income tax 6 (68) (105) (344) (340) (406) Net income/(loss) 199 320 1,071 1,028 1,372 Net income/(loss) attributable to: Shareholders of the parent 197 319 1,067 1,025 1,368 Non-controlling interests 1 1 4 3 3 Basic earnings/(loss) per share¹ 0.78 1.25 4.19 4.03 5.37 Weighted average number of shares outstanding 254,725,627 254,725,627 254,725,627 254,725,627 254,725,627 1 Yara currently has no share-based compensation that results in a dilutive effect on earnings per share.
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11 Yara Third-Quarter Report 2026 Condensed consolidated interim statement of comprehensive income USD millions 3Q 2026 3Q 2025 YTD 2026 YTD 2025 2025 Net income/(loss) 199 320 1,071 1,028 1,372 Other comprehensive income/(loss) that may be reclassified to statement of income in subsequent periods, net of tax Currency translation adjustments (15) (19) (85) 173 186 Hedge of net investments 19 6 33 80 75 Net other comprehensive income/(loss) that may be reclassified to statement of income in subsequent periods, net of tax 4 (13) (52) 252 261 Other comprehensive income/(loss) that will not be reclassified to statement of income in subsequent periods, net of tax Currency translation adjustments1 89 28 159 242 222 Net gain/(loss) on equity instruments at fair value through other comprehensive income - - - - 1 Remeasurement gains/(losses) on defined benefit plans (9) 4 1 19 13 Net other comprehensive income/(loss) that will not be reclassified to statement of income in subsequent periods, net of tax 80 32 160 262 236 Total other comprehensive income/(loss), net of tax 84 19 108 514 497 Total comprehensive income/(loss) 283 340 1,179 1,542 1,868 Total comprehensive income/(loss) attributable to: Shareholders of the parent 282 339 1,175 1,538 1,863 Non-controlling interests 1 1 4 4 5 1 Currency translation adjustments that will not be reclassified to statement of income are related to entities with functional currency NOK as these are not classified as “foreign operations” to Yara International ASA.
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12 Yara Third-Quarter Report 2026 Condensed consolidated interim statement of changes in equity USD millions Share Capital1 Premium paid-in capital Other reserves2 Retained earnings Attributable to shareholders of the parent Non- controlling interests Total equity Balance at 31 December 2025 63 (49) (1,951) 10,661 8,724 20 8,743 Net income/(loss) - - - 1,067 1,067 4 1,071 Total other comprehensive income/(loss) - - 108 1 108 (1) 108 Total comprehensive income/(loss) - - 108 1,068 1,175 4 1,179 Long-term incentive plan - - - 2 2 - 2 Dividends distributed³ - - - (606) (606) (1) (607) Balance at 30 September 2026 63 (49) (1,843) 11,125 9,295 22 9,317 USD millions Share Capital1 Premium paid-in capital Other reserves2 Retained earnings Attributable to shareholders of the parent Non- controlling interests Total equity Balance at 31 December 2024 63 (49) (2,435) 9,409 6,988 16 7,003 Net income/(loss) - - - 1,025 1,025 3 1,028 Total other comprehensive income/(loss) - - 493 19 513 1 514 Total comprehensive income/(loss) - - 493 1,045 1,538 4 1,542 Long-term incentive plan - - - (1) (1) - (1) Dividends distributed - - - (127) (127) (1) (128) Balance at 30 September 2025 63 (49) (1,942) 10,325 8,397 19 8,416 1 Par value of issued shares is NOK 1.70. 2 Other reserves include currency translation adjustments and hedge of net investments. 3 See note 9.
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13 Yara Third-Quarter Report 2026 Condensed consolidated interim statement of financial position USD millions Notes 30 Sep 2026 30 Sep 2025 31 Dec 2025 Assets Non-current assets Deferred tax assets 501 505 521 Goodwill 7 733 742 746 Intangible assets other than goodwill 7 98 108 105 Property, plant and equipment 7 7,504 7,378 7,535 Right-of-use assets 7 525 562 547 Associates and joint ventures 163 170 158 Other non-current assets 538 553 522 Total non-current assets 10,062 10,019 10,134 Current assets Inventories 8 3,861 3,497 3,400 Trade receivables 2,165 1,744 1,772 Prepaid expenses and other current assets 815 800 919 Cash and cash equivalents 874 927 913 Non-current assets and disposal group classified as held for sale 15 2 2 Total current assets 7,729 6,969 7,004 Total assets 17,791 16,988 17,138
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14 Yara Third-Quarter Report 2026 Condensed consolidated interim statement of financial position USD millions Notes 30 Sep 2026 30 Sep 2025 31 Dec 2025 Equity and liabilities Equity Share capital 63 63 63 Premium paid-in capital (49) (49) (49) Other reserves (1,843) (1,942) (1,951) Retained earnings 11,125 10,325 10,661 Total equity attributable to shareholders of the parent 9,295 8,397 8,724 Non-controlling interests 22 19 20 Total equity 9 9,317 8,416 8,743 Non-current liabilities Employee benefits 287 278 282 Deferred tax liabilities 469 434 488 Interest-bearing debt 10 2,765 2,973 2,754 Other non-current liabilities 127 131 93 Non-current provisions 245 302 296 Non-current lease liabilities 10 405 425 413 Total non-current liabilities 4,298 4,542 4,326 Current liabilities Trade and other current payables 3 2,360 1,977 2,001 Prepayments from customers 415 494 336 Current tax liabilities 213 183 164 Current provisions 71 110 98 Other current liabilities 447 415 450 Interest-bearing debt 10 524 703 873 Current lease liabilities 10 137 147 145 Liabilities associated with non-current assets and disposal group classified as held for sale 8 - - Total current liabilities 4,176 4,029 4,068 Total equity and liabilities 17,791 16,988 17,138 Number of shares outstanding 9 254,725,627 254,725,627 254,725,627 The Board of Directors and Chief Executive Officer Yara International ASA Oslo, 21 October 2026 Helge Lund Chair (signed) Jannicke Hilland Vice chair (signed) Martina Merz Board member (signed) Rune Bratteberg Board member (signed) Ivar Vatne Board member (signed) Edina Ringdal Wickholm Board member (signed) Amund Myrstad Board member (signed) Kari Marie Nøstberg Board member (signed) Jais Valeur Board member (signed) Harald Thorstein Board member (signed) Tina Lawton Board member (signed) Svein Tore Holsether President and CEO (signed)
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15 Yara Third-Quarter Report 2026 Condensed consolidated interim statement of cash flows USD millions Notes 3Q 2026 3Q 2025 YTD 2026 YTD 2025 2025 Operating activities Income/(loss) before tax 267 426 1,415 1,368 1,778 Adjustments to reconcile income/(loss) before tax to net cash provided by/(used in) operating activities Depreciation and amortization 7 288 283 864 803 1,084 Impairment loss 7 13 1 23 7 16 (Gain)/loss on disposal of non-current assets (20) 7 (179) - 2 Foreign currency exchange (gain)/loss 64 (14) 180 (386) (383) Finance income and expense 52 62 138 160 193 Income taxes paid (59) (64) (253) (175) (222) Interest paid1 (34) (30) (162) (161) (256) Interest received 12 12 45 33 46 Other (3) (4) (3) (27) (18) Working capital changes that provided/(used) cash Trade receivables (190) 195 (412) (133) (162) Inventories 114 (149) (509) (165) (98) Prepaid expenses and other assets 20 (16) (23) 118 53 Trade and other payables (107) (172) 434 65 (21) Prepayments from customers (45) (176) 81 22 (129) Other interest-free liabilities (7) (19) (67) 21 12 Net cash provided by/(used in) operating activities 365 343 1,571 1,551 1,894 Investing activities Purchase of property, plant and equipment (220) (213) (718) (664) (938) Proceeds from sales of property, plant and equipment 4 3 9 6 16 Disposal of subsidiaries, net of cash transferred 1 - 1 - - Acquisition of subsidiaries, net of cash acquired - - 1 - - Net sale/(purchase) of short-term investments - - 1 - - Purchase of other non-current assets (7) (5) (15) (11) (8) Proceeds from sales of other non-current assets 5 22 - 182 26 26 Net cash provided by/(used in) investing activities (200) (216) (539) (644) (906) Financing activities Loan proceeds2 10 90 54 219 54 41 Principal payments2 10 (32) (30) (531) (77) (107) Payment of lease liabilities 10 (51) (52) (153) (149) (198) Dividends paid - (7) (605) (127) (127) Other inflows/(outflows) of cash (1) (1) (1) (1) (1) Net cash provided by/(used in) financing activities 6 (35) (1,072) (299) (392) Foreign currency effects on cash and cash equivalents (2) (3) 1 2 - Net increase/(decrease) in cash and cash equivalents 169 89 (39) 610 596 Cash and cash equivalents at beginning of period3 705 838 914 318 318 Cash and cash equivalents at end of period3 875 927 875 927 914 Bank deposits not available for the use by the Group 127 80 127 80 84 1 Including interest on lease liabilities. 2 Loan proceeds and principal payments related to short-term borrowings for which maturity is three months or less are presented net. 3 Excluded expected credit loss provisions on bank deposits.
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16 Yara Third-Quarter Report 2026 Notes to the interim financial statements 1 Corporate information and basis of preparation Yara (the Group) consists of Yara International ASA and its subsidiaries. Yara International ASA is a public limited company incorporated in Norway. The address of its registered office is Drammensveien 131, Oslo, Norway. These unaudited, condensed consolidated interim financial statements consist of the Group and the Group’s interests in associated companies and joint arrangements. They are prepared in accordance with International Accounting Standard 34 Interim Financial Reporting and should be read in conjunction with the annual consolidated financial statements in Yara’s Annual Report for 2025. The accounting policies applied in the third quarter of 2026 are the same as those communicated in that Annual Report. As a result of rounding differences, numbers or percentages may not add up to the total. 2 Estimates, judgments and assumptions Yara faces various risks and uncertainties that require management to make estimates, judgments, and assumptions which may significantly differ from actual results and potentially lead to material adjustments to carrying amounts. The estimates, judgments, and assumptions communicated in Yara’s consolidated financial statements for 2025 also apply to these interim financial statements. 3 Effects of the geopolitical situation Yara’s global scale, optimized production network, and flexibility in production and product flows support the Group’s ability to respond to changes in the geopolitical landscape and maintain supply with limited disruption. The Group’s financial results are primarily influenced by global nitrogen fertilizer and natural gas prices. These prices are sensitive to geopolitical developments that may disrupt value chains and global trade in key sectors relevant to Yara, including energy, food production, and distribution. The Group’s operations may also be affected by sanctions, trade barriers, tariffs, and logistics constraints. Yara continuously monitors geopolitical developments and adapts its sourcing, production, and logistics as appropriate. The protracted war in Ukraine continues to put pressure on trade routes and food markets, while the conflict in the Middle East keeps maritime access and commodity flows fragile. The financial impact on Yara from these conflicts depends primarily on developments in relevant global commodity markets and remains uncertain. The Group did not experience operational disruptions from geopolitical events that had a material impact on Yara’s consolidated results in the third quarter of 2026. As of 30 September 2026, Yara had trade payables of USD 161 million to companies linked to sanctioned Russian individuals, translated at exchange rates prevailing at the balance sheet date. The payables relate to goods received before the sanctions were imposed and are presented within “Trade and other current payables” in the consolidated statement of financial position. The timing of settlement remains uncertain and depends on developments in applicable sanctions regulations.
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17 Yara Third-Quarter Report 2026 4 Segment information Operating segments The operating segments presented are the key components of Yara’s business, which are regularly assessed, monitored and managed by Yara’s Chief Executive Officer (CEO) as the Chief Operating Decision Maker. Yara’s operations comprise the following operating segments: • Europe • Americas • Africa & Asia • Global Production • Clean Ammonia • Industrial Solutions There have been no material changes to the basis of segmentation or the measurement of segment profit or loss during the quarter. Refer to the latest annual consolidated financial statements for a detailed description of each segment’s activities. Information about Yara’s operating segments For the quarter External revenue Internal Revenue Total revenue USD millions 3Q 2026 3Q 2025 3Q 2026 3Q 2025 3Q 2026 3Q 2025 Europe 1,166 1,013 215 183 1,380 1,196 Americas 1,675 1,647 14 11 1,689 1,658 Africa & Asia 575 591 - 27 575 619 Global Production 14 13 1,042 959 1,056 972 Clean Ammonia 249 202 517 253 766 454 Industrial Solutions 770 636 104 57 874 693 Other and Eliminations 4 5 (1,891) (1,489) (1,888) (1,484) Total 4,452 4,107 - - 4,452 4,107 Other Income1 Raw materials, energy costs and freight expenses EBITDA2 USD millions 3Q 2026 3Q 2025 3Q 2026 3Q 2025 3Q 2026 3Q 2025 Europe 37 5 (1,176) (996) 96 156 Americas 1 4 (1,419) (1,294) 155 250 Africa & Asia 1 - (553) (585) 47 67 Global Production - - (899) (678) 100 214 Clean Ammonia - - (688) (417) 71 30 Industrial Solutions 3 - (718) (552) 102 104 Other and Eliminations (17) (8) 1,907 1,499 126 (51) Total 26 1 (3,547) (3,023) 697 770
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18 Yara Third-Quarter Report 2026 Year to date External revenue Internal Revenue Total revenue USD millions YTD 2026 YTD 2025 YTD 2026 YTD 2025 YTD 2026 YTD 2025 Europe 3,757 3,249 715 574 4,472 3,823 Americas 4,459 4,163 48 34 4,506 4,197 Africa & Asia 1,741 1,808 51 110 1,792 1,919 Global Production 39 41 3,279 2,652 3,318 2,693 Clean Ammonia 758 580 1,358 806 2,116 1,385 Industrial Solutions 2,170 1,819 369 158 2,539 1,977 Other and Eliminations 13 16 (5,818) (4,334) (5,806) (4,319) Total 12,937 11,675 - - 12,937 11,675 Other Income1 Raw materials, energy costs and freight expenses EBITDA2 USD millions YTD 2026 YTD 2025 YTD 2026 YTD 2025 YTD 2026 YTD 2025 Europe 232 35 (3,678) (2,970) 661 429 Americas 2 9 (3,694) (3,334) 593 628 Africa & Asia 2 1 (1,630) (1,705) 132 205 Global Production 41 11 (2,464) (2,013) 679 443 Clean Ammonia - - (1,939) (1,267) 153 77 Industrial Solutions 15 1 (1,972) (1,528) 427 260 Other and Eliminations (65) (28) 5,832 4,344 (18) 60 Total 227 28 (9,544) (8,473) 2,663 1,981 1 Other income in Europe and Global Production segments for 2026 includes gain on external sale of EU emission allowances (EUAs), see note 5 for details. 2 Refer to the “Alternative performance measures” section for definition and relevant reconciliations. 2025 USD millions External revenue Internal revenue Total revenue Other income Raw materials, energy costs and freight expenses EBITDA1 Europe 4,368 757 5,125 40 (4,046) 580 Americas 5,472 47 5,519 10 (4,311) 822 Africa & Asia 2,401 129 2,530 2 (2,214) 226 Global Production 52 3,591 3,643 74 (2,708) 695 Clean Ammonia 856 1,129 1,985 - (1,822) 114 Industrial Solutions 2,455 229 2,683 12 (2,099) 339 Other and Eliminations 20 (5,882) (5,863) (46) 5,914 (21) Total 15,623 - 15,623 92 (11,285) 2,754 1 Refer to the “Alternative performance measures” section for definition and relevant reconciliations. Information on inventory write-downs affecting segments is included in note 8 Inventories.
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19 Yara Third-Quarter Report 2026 Alternative performance measures1 Quarter-end NOPAT Invested capital ROIC USD millions, except percentages Oct 2025- Sep 2026 Oct 2024- Sep 2025 Oct 2025- Sep 2026 Oct 2024- Sep 2025 Oct 2025- Sep 2026 Oct 2024- Sep 2025 Europe 367 145 3,504 3,014 10.5% 4.8% Americas 408 404 3,126 2,838 13.0% 14.3% Africa & Asia 88 174 975 827 9.0% 21.1% Global Production 445 142 2,834 2,657 15.7% 5.3% Clean Ammonia 89 41 350 341 25.5% 12.0% Industrial Solutions 245 132 1,659 1,592 14.8% 8.3% 2025 USD millions, except percentages NOPAT Invested Capital ROIC Europe 204 3,129 6.5% Americas 449 2,875 15.6% Africa & Asia 141 858 16.4% Global Production 288 2,713 10.6% Clean Ammonia 40 336 11.9% Industrial Solutions 133 1,589 8.4% 1 Refer to the “Alternative performance measures” section for definitions and relevant reconciliations. NOPAT, Invested capital and ROIC are calculated on a 12-month rolling average basis. The reconciliation of reportable segments’ measure of profit/(loss) to the profit/(loss) of the Group is included in the “Alternative performance measures” section. Disaggregation of external revenues by geographical area1 3Q 2026 USD millions Europe Brazil Latin America ex. Brazil North America Africa Asia Total Europe 1,131 - 10 - 19 5 1,166 Americas - 1,081 357 236 - - 1,675 Africa & Asia - - - - 126 449 575 Global Production 13 - - - - 1 14 Clean Ammonia 1 10 - 152 - 88 249 Industrial Solutions 411 159 28 45 82 45 770 Other and eliminations 4 - - - - - 4 Total 1,558 1,250 397 433 227 588 4,452
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20 Yara Third-Quarter Report 2026 3Q 2025 USD millions Europe Brazil Latin America ex. Brazil North America Africa Asia Total Europe 982 - 10 - 16 5 1,013 Americas - 1,067 323 256 - - 1,647 Africa & Asia - - - - 150 441 591 Global Production 11 - 1 - - 1 13 Clean Ammonia 9 31 1 79 - 82 202 Industrial Solutions 327 146 21 33 67 43 636 Other and eliminations 5 - - - - - 5 Total 1,334 1,245 355 368 233 573 4,107 YTD 2026 USD millions Europe Brazil Latin America ex. Brazil North America Africa Asia Total Europe 3,649 - 30 2 63 12 3,757 Americas - 2,379 1,015 1,063 - - 4,459 Africa & Asia - - - - 387 1,354 1,741 Global Production 36 - 2 - - 2 39 Clean Ammonia 10 27 2 464 - 256 758 Industrial Solutions 1,154 489 88 129 198 113 2,170 Other and eliminations 10 - - - - 3 13 Total 4,859 2,895 1,137 1,657 649 1,739 12,937 YTD 2025 USD millions Europe Brazil Latin America ex. Brazil North America Africa Asia Total Europe 3,153 - 27 1 48 18 3,249 Americas - 2,223 904 1,036 - - 4,163 Africa & Asia - - - - 417 1,392 1,808 Global Production 35 - 5 - - 2 41 Clean Ammonia 9 96 1 247 - 227 580 Industrial Solutions 958 421 73 96 165 107 1,819 Other and eliminations 12 - - - - 3 16 Total 4,168 2,741 1,009 1,379 630 1,748 11,675 2025 USD millions Europe Brazil Latin America ex. Brazil North America Africa Asia Total Europe 4,235 - 34 2 75 21 4,368 Americas 1 2,903 1,212 1,357 - - 5,472 Africa & Asia 20 - - - 594 1,787 2,401 Global Production 44 - 5 - - 3 52 Clean Ammonia 9 139 - 396 - 312 856 Industrial Solutions 1,291 563 112 127 215 146 2,455 Other and eliminations 16 - - - - 3 20 Total 5,617 3,605 1,363 1,882 883 2,273 15,623 1 Disaggregation by geographical area is based on customer location.
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21 Yara Third-Quarter Report 2026 5 Revenue and other income Disaggregation of external revenues by nature USD millions 3Q 2026 3Q 2025 YTD 2026 YTD 2025 2025 Sale of fertilizer and chemical products 4,220 3,894 12,294 11,068 14,813 Freight / insurance services 168 158 460 428 573 Other products and services 41 38 118 128 168 Revenue from contracts with customers 4,429 4,090 12,872 11,625 15,554 Interest income from financing component in contracts with customers1 22 18 65 50 69 Revenue 4,452 4,107 12,937 11,675 15,623 1 Refers mainly to customers in Brazil and other Latin American markets. Other income Yara sold 241,000 EU emission allowances (EUAs) during the third quarter (2,000,000 year to date) for a total consideration of USD 22 million (USD 177 million year to date). The EUAs were granted to Yara as free allowances under the European Union Emissions Trading Scheme (EU ETS) and were recognized as intangible assets at cost (nominal value of zero). The gain on sale of EUAs is recognized at the time of transferring EUAs to the buyer and is measured based on the proceeds received from each transaction. Proceeds from sale of EUAs are presented as cash flows from investing activities (Proceeds from sales of other non-current assets) in the Condensed consolidated interim statement of cash flows. As of 31 December 2025, Yara held a net surplus of 5.2 million EUAs. For further information, see note 4.9 Government grants, in Yara’s Annual Report. 6 Income taxes USD millions, except percentages 3Q 2026 3Q 2025 YTD 2026 YTD 2025 2025 Income/(loss) before tax 267 426 1,415 1,368 1,778 Income tax (68) (105) (344) (340) (406) Effective tax rate 25.5 % 24.6 % 24.3 % 24.9 % 22.8 % Third quarter The change in effective tax rate mainly reflects shifts in the geographic distribution of taxable income, as no material special items impacted the effective tax rate during the period. Year to date The effective tax rate for the first nine months of 2026 was impacted by a positive outcome of a mutual agreement procedure between the competent authorities in two countries where Yara operates. Excluding this compensation, the effective tax rate year to date would have been 25.7%. The underlying change in the effective tax rate primarily reflects shifts in the geographical distribution of taxable results.
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22 Yara Third-Quarter Report 2026 7 Non-current assets 30 September 2026 USD millions PP&E Assets under construction Goodwill Intangible assets other than goodwill RoU Assets Balance at 1 January 2026 6,618 917 746 105 547 Additions and lease modifications¹ 303 432 - 9 138 Derecognition (6) (1) - - - Transfers 349 (344) - - - Depreciation and amortization (690) - - (17) (158) Impairment loss (20) (5) - - (2) Reversal of impairment loss 4 - - - - Foreign currency translation (44) (9) (12) 1 (1) Balance at 30 September 2026 6,514 990 733 98 525 ¹ An amount of USD 9 million has been recognized as a reduction to AuC due to received subsidies. 30 September 2025 USD millions PP&E Assets under construction Goodwill Intangible assets other than goodwill RoU Assets Balance at 1 January 2025 6,069 748 712 123 464 Additions and lease modifications¹ 145 436 - 6 209 Derecognition (3) (1) - (6) - Transfers 268 (270) - - 2 Depreciation and amortization (632) - - (18) (153) Impairment loss (2) - - (9) - Reversal of impairment loss 3 1 - - - Foreign currency translation 531 85 31 12 40 Balance at 30 September 2025 6,379 998 742 108 562 ¹ An amount of USD 20 million has been recognized as a reduction to AuC due to received subsidies. 2025 USD millions PP&E Assets under construction Goodwill Intangible assets other than goodwill RoU Assets Balance at 1 January 2025 6,069 748 712 123 464 Additions and lease modifications1,2 412 577 - 11 245 Derecognition (14) (4) - (8) - Transfers 481 (482) - - 2 Depreciation and amortization (856) - - (24) (203) Impairment loss³ (44) (1) - (9) (1) Reversal of impairment loss³ 38 1 - - - Foreign currency translation 532 78 34 11 40 Balance at 31 December 2025 6,618 917 746 105 547 ¹ Additions to PP&E other than AuC in 2025 is USD 421 million. The net amount includes USD 9 million reduction to decommissioning assets related to buildings, this is mainly due to increase in discounting rate. ² An amount of USD 27 million has been recognized as a reduction to AuC due to subsidies. ³ Following the transformation project at the Tertre site in Belgium, asset‑specific impairments were fully offset by the reversal of impairments allocated to production assets that will remain in use at the same site. Leases expensed in the period Leases expensed in the quarter amounted to USD 13 million (3Q 2025: USD 12 million). Year to date 2026, USD 41 million was recognized (2025: USD 38 million), for leases with variable payments, low-value leases, or short-term leases.
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23 Yara Third-Quarter Report 2026 8 Inventories 30 September 2026 USD millions Europe Americas Africa & Asia Global Production Clean Ammonia Industrial Solutions Other and Eliminations Total Finished goods 672 691 594 159 - 154 (103) 2,167 Work in progress 59 1 - 32 - 18 - 110 Raw materials 203 674 14 135 92 66 4 1,188 Spare parts 111 59 6 146 - 75 - 396 Total 1,044 1,425 614 471 92 313 (99) 3,861 Write-down, closing balance (28) (15) (3) (10) (2) (20) 23 (55) 30 September 2025 USD millions Europe Americas Africa & Asia Global Production Clean Ammonia Industrial Solutions Other and Eliminations Total Finished goods 628 595 561 115 - 126 (148) 1,877 Work in progress 46 1 - 24 - 19 - 90 Raw materials 146 730 11 128 69 53 4 1,141 Spare parts 111 60 5 138 - 76 - 390 Total 931 1,386 577 404 69 275 (145) 3,497 Write-down, closing balance (17) (9) (4) (2) - (9) 6 (35) 31 December 2025 USD millions Europe Americas Africa & Asia Global Production Clean Ammonia Industrial Solutions Other and Eliminations Total Finished goods 696 594 550 124 - 123 (143) 1,944 Work in progress 42 - - 30 - 22 - 94 Raw materials 169 558 11 103 79 53 3 976 Spare parts 109 59 5 138 - 74 - 385 Total 1,017 1,212 565 395 79 272 (140) 3,400 Write-down, closing balance (24) (9) (4) (2) (1) (8) 7 (40) 9 Shareholders’ equity The Annual General Meeting on 12 May 2026 approved a dividend for 2025 of NOK 22 per share. Total amount payable is NOK 5,604 million (USD 606 million). The dividend was paid out during second quarter 2026. On 12 May 2026 the Annual General Meeting also authorized the Board of Directors to acquire up to 12,736,281 shares in the open market and from the Norwegian State. Shares may be purchased within a price range from NOK 10 to NOK 1,000. The shares shall be subsequently cancelled. Yara has renewed its agreement with the Norwegian State according to which the State’s shares will be redeemed on a pro-rata basis to ensure the State’s ownership is unchanged in the event of a cancellation of shares bought back. Yara has not purchased own shares under the 2026 or 2025 buy-back programs. Total number of shares outstanding at 30 September 2026 is 254,725,627. Yara has not held any own shares throughout 2025 and 2026.
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24 Yara Third-Quarter Report 2026 10 Interest-bearing debt Specification of interest-bearing debt USD millions 30 Sep 2026 30 Sep 2025 31 Dec 2025 Non-current liabilities Debenture bonds1 2,697 2,936 2,722 Other loans 68 37 33 Total non-current interest-bearing debt 2,765 2,973 2,754 Current liabilities Current portion of non-current debt 236 547 750 Credit facilities, overdraft facilities and other current debt 289 156 123 Total current interest-bearing debt 524 703 873 Total unsecured bank loans and other loans 3,289 3,676 3,627 1 Yara International ASA is responsible for the entire amount. At 30 September 2026, the fair value of the non-current debt, including the current portion, was USD 2,985 million while the carrying value was USD 3,001 million. During the quarter, the difference between fair value and carrying increased by USD 9 million, primarily reflecting slightly higher long-term interest rates applied in the fair value calculation. There have been no significant changes in Yara's non-current interest-bearing debt profile during the quarter. The USD 1,400 million committed bank facility secured to finance the acquisition of the Gulf Coast Ammonia plant remained completely undrawn at the end of the quarter, as did Yara's USD 1,677 million long-term credit facilities. A further USD 490 million was available through unused short-term credit facilities with various banks. Contractual payments on non-current interest-bearing debt USD millions Debenture bonds Other loans Total1 2026 225 3 228 2027 102 10 112 2028 1,000 11 1,010 2029 211 5 216 2030 749 48 796 Thereafter 636 1 637 Total 2,923 79 3,001 1 Including current portion. Reconciliation of liabilities arising from financing activities USD millions Interest-bearing debt Lease liabilities Other liabilities1 Total liabilities from financing activities 31 December 2025 3,627 558 15 4,201 Cash flows (312) (153) - (466) Non-cash changes: Additions and lease modifications - 138 - 138 Foreign exchange movement 13 (1) (1) 12 Amortization of transaction cost 2 - - 2 Other2 (41) - - (41) 30 September 2026 3,289 542 14 3,846
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25 Yara Third-Quarter Report 2026 USD millions Interest-bearing debt Lease liabilities Other liabilities1 Total liabilities from financing activities 31 December 2024 3,579 468 26 4,074 Cash flows (23) (149) - (172) Non-cash changes: Additions and lease modifications - 208 - 208 Foreign exchange movement 89 44 3 138 Amortization of transaction cost 1 - - 1 Reclassification - - (15) (15) Other2 29 - - 29 30 September 2025 3,676 572 15 4,263 1 Other liabilities relate to unearned portion of government grants. 2 Other non-cash changes include fair value changes on interest rate swaps designated as hedging instruments. 11 Contingencies Contingent liabilities were disclosed in Note 5.5 to the Annual Report for the year ended December 31, 2025. The following provides updates on a disclosed tax contingency that has changed materially and a disclosed legal matter that continues to develop, while the overall assessment remains unchanged: • Two subsidiaries involved in the same case received reassessment decisions from the tax authorities related to interest deductions and liquidation impacts on internal group positions. The decisions are consistent with the draft decisions received in 2024. Yara disagrees with the reassessments. In aggregate, the reassessments increase income taxes by approximately USD 100 million, around half of which has been provided for in previous years. The exposure and related provision were included in the tax contingency disclosures in the 2025 Annual Report. The decisions had no impact on tax expense for the first nine months of 2026, and no immediate cash outflow is expected due to available tax loss carryforwards. • Yara acquired Adubos Trevo from the Trevisa Group in 2000 and, along with related companies, became subject to two environmental lawsuits in 2011 and 2012 concerning mine and lead industry activities in Brazil. These activities were conducted by another subsidiary of the Trevisa Group, Plumbum Comércio e Representações de Produtos Mineirais e Industriais. As Adubos Trevo was not involved in these activities, Yara has denied liability for any resulting damages. In November 2025, a lower-level court in Brazil found Yara jointly liable in one of these environmental lawsuits. Yara has appealed the ruling and denies any liability. Ruling on the appeal is scheduled for November 2026. New facts and information are being presented as a part of the ongoing appeal process. Given the complexity of the case and that the lower-level court ruling does not provide sufficient information to quantify all of the obligations imposed, it is not possible to make a reliable estimate of a potential exposure. 12 Business initiatives On 2 July 2026, Yara International ASA announced that its U.S. subsidiary, Yara North America, Inc., has reached an agreement to acquire Gulf Coast Ammonia’s (GCA) ammonia production facility in Texas City, Texas from GCA Holdings LLC, affiliated with Lotus Infrastructure Partners and MB Energy for a consideration of USD 1.3 billion. Yara will own the ammonia plant with an expected nameplate capacity of 1.3 mtpa, with Air Products supplying the industrial gases to Yara as part of a long-term supply agreement. The plant is currently in commissioning and is anticipated to continue ramping up toward full production and stable operations by end of 2026. Completion of the acquisition is subject to customary closing conditions, including receipt of relevant regulatory approvals. Yara has secured a USD 1,400 million committed bank facility to finance the acquisition. On 20 August 2026, GCA received a copy of a request for arbitration which includes an allegation that the claimant has suffered loss and damages amounting to at least USD 2 billion for alleged wrongful termination of an ammonia offtake agreement. GCA strongly disputes that the termination was wrongful, rejects the claims in their entirety and will vigorously defend itself against any allegations. Yara supports GCA’s assessment, and the claim does not impact the financial or strategic rationale for the acquisition. Yara remains committed to completing the acquisition, subject to customary closing conditions.
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26 Yara Third-Quarter Report 2026 Quarterly historical information EBITDA USD millions 3Q 2026 2Q 2026 1Q 2026 4Q 2025 3Q 2025 Restated¹ 2Q 2025 Restated¹ 1Q 2025 Europe 96 320 246 151 156 121 152 Americas 155 209 229 194 250 237 141 Africa & Asia 47 41 44 21 67 73 64 Global Production 100 407 173 252 214 117 112 Clean Ammonia 71 33 49 37 30 6 41 Industrial Solutions 102 177 148 79 104 80 76 Other and Eliminations 126 (128) 20 40 (51) 12 (21) Total 697 1,058 908 773 770 645 566 1 Comparative figures have been restated to reflect the change in Yara’s operating segments. Restated segment information for previous quarters of 2025 is available on www.yara.com. These changes to the segment reporting structure do not affect Yara’s total consolidated figures. Results USD millions, except where indicated otherwise 3Q 2026 2Q 2026 1Q 2026 4Q 2025 3Q 2025 2Q 2025 1Q 2025 Revenue and other income 4,478 4,428 4,259 4,012 4,108 3,947 3,648 Operating income/(loss) 379 735 610 443 470 351 308 EBITDA 697 1,058 908 773 770 645 566 Net income/(loss) attributable to shareholders of the parent 197 543 326 343 319 412 294 Basic earnings/(loss) per share (USD/share) 0.78 2.13 1.28 1.35 1.25 1.62 1.15
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27 Yara Third-Quarter Report 2026 Reconciliation of Alternative performance measures in the Yara Group Yara makes regular use of the following non-GAAP financial alternative performance measures (APMs), both in absolute terms and comparatively from period to period: • EBITDA • EBITDA, excluding special items • Return on invested capital (ROIC) • Fixed cost • Net interest-bearing debt • Net debt / equity ratio • Net debt / EBITDA, excluding special items ratio • Adjusted earnings/(loss) per share Definitions and explanations for the use of these APMs are described herein, including reconciliations of the APMs to the most directly reconcilable line item, subtotal or total presented in the financial statements. EBITDA Earnings before interest, tax, depreciation, and amortization (EBITDA) is used for providing consistent information on Yara’s operating performance and debt servicing ability. EBITDA, as defined by Yara, includes operating income/(loss), share of net income/(loss) in equity-accounted investees, and interest income and other financial income. It excludes depreciation, amortization and impairment loss. Yara’s definition of EBITDA may differ from that of other companies. EBITDA, excluding special items EBITDA, excluding special items is used to better reflect the underlying performance in the reporting period, adjusting for items which are not primarily related to the period in which they are recognized. Special items Yara defines “special items” as items in the results which are not regarded as part of underlying business performance for the period. These comprise restructuring related items, contract derivatives, impairments and other items which are not primarily related to the period in which they are recognized, subject to a minimum value of USD 7.5 million per item within a 12-month period. “Contract derivatives” are commodity-based derivative gains or losses which are not the result of active exposure or position management by Yara. Together with impairments, these are defined as special items regardless of amount. See table “Special items” for details. Reconciliation of operating income/(loss) to EBITDA, excluding special items USD millions 3Q 2026 3Q 2025 Oct 2025– Sep 2026 Oct 2024– Sep 2025 2025 Operating income/(loss) 379 470 2,167 1,126 1,571 Share of net income/(loss) in equity-accounted investees 4 4 12 23 17 Interest income and other financial income 12 12 81 44 66 Depreciation and amortization 288 283 1,145 1,070 1,084 Impairment loss 13 1 31 78 16 Earnings before interest, tax, depreciation, and amortization (EBITDA) 697 770 3,436 2,341 2,754 Special items included in EBITDA1 22 (34) 250 (272) (49) EBITDA, excluding special items A 675 804 3,186 2,613 2,803 1 See section “Special items” for details on special items.
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28 Yara Third-Quarter Report 2026 Reconciliation of operating income/(loss) to EBITDA per operating segment, excluding special items USD millions Europe Americas Africa & Asia Global Production Clean Ammonia Industrial Solutions Other and Eliminations Total 3Q 2026 Operating income/(loss) 16 89 38 15 56 47 118 379 Share of net income/(loss) in equity- accounted investees 1 1 - - - 2 - 4 Interest income and other financial income - 3 1 1 - 1 7 12 Depreciation and amortization 78 61 9 84 15 40 1 288 Impairment loss - - - - - 13 - 13 Earnings before interest, tax, depreciation, and amortization (EBITDA) 96 155 47 100 71 102 126 697 Special items included in EBITDA1 22 - - (7) - 6 - 22 EBITDA, excluding special items 73 155 47 106 71 96 126 675 3Q 2025 Operating income/(loss) 76 189 56 134 14 61 (61) 470 Share of net income/(loss) in equity- accounted investees 1 1 - - - 2 - 4 Interest income and other financial income - 2 2 1 - - 8 12 Depreciation and amortization 79 58 10 79 15 41 1 283 Impairment loss - 1 - - - - - 1 Earnings before interest, tax, depreciation, and amortization (EBITDA) 156 250 67 214 30 104 (51) 770 Special items included in EBITDA1 (35) (1) - - - (1) 3 (34) EBITDA, excluding special items 191 251 67 214 30 106 (55) 804 YTD 2026 Operating income/(loss) 429 403 104 425 97 283 (16) 1,724 Share of net income/(loss) in equity- accounted investees 4 3 - (1) (1) 5 - 9 Interest income and other financial income (1) 9 2 2 - 1 30 43 Depreciation and amortization 234 179 26 251 47 124 4 864 Impairment loss (4) - - 2 10 15 - 23 Earnings before interest, tax, depreciation, and amortization (EBITDA) 661 593 132 679 153 427 18 2,663 Special items included in EBITDA1 153 - - 15 - 18 - 186 EBITDA, excluding special items 508 593 132 664 153 409 18 2,477
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29 Yara Third-Quarter Report 2026 USD millions Europe Americas Africa & Asia Global Production Clean Ammonia Industrial Solutions Other and Eliminations Total YTD 2025 Operating income/(loss) 214 452 174 214 24 131 (80) 1,129 Share of net income/(loss) in equity- accounted investees 2 5 - - - 7 - 14 Interest income and other financial income 1 4 5 2 - 1 16 28 Depreciation and amortization 212 167 26 226 48 121 3 803 Impairment loss - 1 - - 6 1 - 7 Earnings before interest, tax, depreciation, and amortization (EBITDA) 429 628 205 443 77 260 (60) 1,981 Special items included in EBITDA 1 (50) (16) (1) (2) - (23) (20) (113) EBITDA, excluding special items 479 644 206 445 77 283 (40) 2,094 2025 Operating income/(loss) 264 581 185 384 47 163 (53) 1,571 Share of net income/(loss) in equity- accounted investees 3 4 - - - 10 - 17 Interest income and other financial income 23 6 6 3 - 1 27 66 Depreciation and amortization 290 223 35 307 62 163 4 1,084 Impairment loss - 7 - 1 6 1 1 16 Earnings before interest, tax, depreciation, and amortization (EBITDA) 580 822 226 695 114 339 (21) 2,754 Special items included in EBITDA 1 (32) (17) (1) 61 - (27) (32) (49) EBITDA, excluding special items 612 839 227 634 114 366 11 2,803 1 See section “Special items” for details on special items. Reconciliation of EBITDA to net income/(loss) USD millions 3Q 2026 3Q 2025 YTD 2026 YTD 2025 2025 EBITDA 697 770 2,663 1,981 2,754 Depreciation and amortization (288) (283) (864) (803) (1,084) Impairment loss (13) (1) (23) (7) (16) Foreign currency exchange gain/(loss) (64) 14 (180) 386 383 Interest expense and other financial items (64) (74) (181) (189) (259) Income tax (68) (105) (344) (340) (406) Net income/(loss) 199 320 1,071 1,028 1,372
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30 Yara Third-Quarter Report 2026 Return on invested capital (ROIC) Return on invested capital (ROIC) is defined as Net operating profit after tax (NOPAT) divided by average invested capital calculated on a 12-month rolling average basis. NOPAT is defined as operating income/(loss) adding back amortization and impairment of intangible assets other than goodwill, as well as adding interest income on late payments and net income/(loss) from equity-accounted investees, reduced with a tax cost calculated based on a 25 percent flat rate. Average invested capital is defined as total current assets excluding cash and cash equivalents and adding a normalized cash level of USD 200 million, reduced for total current liabilities excluding current interest-bearing debt and current portion of non-current interest-bearing debt, and adding property, plant and equipment, right-of-use assets, goodwill, and associates and joint ventures. NOPAT and average invested capital are defined and reconciled as components in the reporting of ROIC as an APM. They are not considered to be separate APMs. Reconciliation of operating income/(loss) to net operating profit after tax USD millions Oct 2025– Sep 2026 Oct 2024– Sep 2025 2025 Operating income/(loss) 2,167 1,126 1,571 Amortization and impairment of intangible assets other than goodwill 23 34 33 Interest income on late payments 5 6 5 Calculated tax cost (25% flat rate) on items above (549) (291) (402) Share of net income/(loss) in equity-accounted investees 12 23 17 Net operating profit after tax (NOPAT) B 1,658 897 1,224 Reconciliation of net income/(loss) to net operating profit after tax USD millions Oct 2025– Sep 2026 Oct 2024– Sep 2025 2025 Net income/(loss) 1,414 738 1,372 Amortization and impairment of intangible assets other than goodwill 23 34 33 Interest income on late payments 5 6 5 Interest income and other financial income (81) (44) (66) Interest expense and other financial items 252 242 259 Foreign currency exchange (gain)/loss 183 (126) (383) Income tax, added back 410 338 406 Calculated tax cost (25% flat rate) (549) (291) (402) Net operating profit after tax (NOPAT) B 1,658 897 1,224
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31 Yara Third-Quarter Report 2026 Reconciliation of invested capital and ROIC calculation USD millions Oct 2025– Sep 2026 Oct 2024– Sep 2025 2025 Total current assets 7,729 6,969 7,004 Cash and cash equivalents (874) (927) (913) Normalized level of operating cash 200 200 200 Total current liabilities (4,176) (4,029) (4,068) Current interest-bearing debt 524 703 873 Current lease liabilities 137 147 145 Property, plant and equipment 7,504 7,378 7,535 Right-of-use assets 525 562 547 Goodwill 733 742 746 Associates and joint ventures1 163 157 155 Adjustment for 12-month average (158) (622) (740) Invested capital C 12,309 11,280 11,484 Return on invested capital (ROIC) D=B/C 13.5 % 8.0 % 10.7 % 1 Associates and joint ventures is excluding long-term loans to associates. Fixed cost Fixed cost refers to the subtotal “Operating costs and expenses” in the consolidated statement of income minus variable product costs (raw materials, energy, freight), other variable operating expenses, depreciation, amortization and impairment losses. The reported figures are further adjusted for items not considered part of the underlying business performance for the period (see section “Special items” for details). Fixed cost is reported on a rolling 12-month basis. Reconciliation of operating costs and expenses to fixed cost USD millions Oct 2025–Sep 2026 2025 Operating costs and expenses 15,009 14,143 Variable part of Raw materials, energy costs and freight expenses (11,385) (10,572) Variable part of Other operating expenses (24) (25) Depreciation and amortization (1,145) (1,084) Impairment loss (31) (16) Special items within fixed cost (12) (114) Fixed cost 2,413 2,333
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32 Yara Third-Quarter Report 2026 Capital structure measures Yara reports the Group’s net interest-bearing debt, net debt / equity ratio and net debt / EBITDA, excluding special items ratio to provide information on the Group’s financial position with reference to the targeted capital structure, as communicated in Yara’s financial policy. In addition, Yara’s reporting of net interest- bearing debt highlights key development factors which supplement the consolidated statement of cash flows. Net interest-bearing debt is defined by Yara as cash and cash equivalents and other liquid assets, reduced for current and non-current interest-bearing debt, and lease liabilities. The net debt / equity ratio is calculated as net interest-bearing debt divided by shareholders’ equity plus non-controlling interests. The net debt / EBITDA, excluding special items ratio, is calculated as net interest-bearing debt divided by EBITDA, excluding special items on a 12-month rolling basis. Net interest-bearing debt USD millions 30 Sep 2026 30 Sep 2025 31 Dec 2025 Cash and cash equivalents 874 927 913 Other liquid assets - 5 2 Current interest-bearing debt (524) (703) (873) Current lease liabilities (137) (147) (145) Non-current interest-bearing debt (2,765) (2,973) (2,754) Non-current lease liabilities (405) (425) (413) Net interest-bearing debt E (2,958) (3,316) (3,271) Net debt / equity ratio USD millions, except for ratio 30 Sep 2026 30 Sep 2025 31 Dec 2025 Net interest-bearing debt E (2,958) (3,316) (3,271) Total equity F (9,317) (8,416) (8,743) Net debt / equity ratio G=E/F 0.32 0.39 0.37 Net debt / EBITDA, excluding special items ratio USD millions, except for ratio 30 Sep 2026 30 Sep 2025 31 Dec 2025 Net interest-bearing debt E (2,958) (3,316) (3,271) EBITDA, excluding special items A 3,186 2,613 2,803 Net debt / EBITDA, excluding special items ratio H=(E)/A 0.93 1.27 1.17
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33 Yara Third-Quarter Report 2026 Adjusted earnings/(loss) per share Yara makes use of adjustments to Basic earnings/(loss) per share (EPS) to reflect the Group’s underlying performance. These adjustments lead to reporting of two different APMs; Adjusted EPS excluding foreign currency exchange gain/(loss), and Adjusted EPS excluding foreign currency exchange gain/(loss) and special items (after tax). For simplicity, the tax effect on foreign currency exchange gain/(loss) and special items is calculated based on the relevant statutory tax rate. Adjusted earnings/(loss) per share USD millions, except earnings/(loss) per share and number of shares 3Q 2026 3Q 2025 YTD 2026 YTD 2025 2025 Weighted average number of shares outstanding I 254,725,627 254,725,627 254,725,627 254,725,627 254,725,627 Net income/(loss) attributable to shareholders of the parent J 197 319 1,067 1,025 1,368 Foreign currency exchange gain/(loss) K (64) 14 (180) 386 383 Tax effect on foreign currency exchange gain/(loss) L 14 (6) 36 (98) (96) Non-controlling interest’s share of foreign currency exchange (gain)/loss, net after tax M - - - - 1 Special items within income/(loss) before tax1 N 9 (35) 163 (121) (65) Tax effect on special items O (4) 8 (38) 31 21 Special items within income/(loss) before tax, net after tax P=N+O 5 (27) 125 (89) (44) Net income/(loss), excluding foreign currency exchange gain/(loss) Q=J–K– L+M 248 312 1,211 738 1,082 Net income/(loss), excluding foreign currency exchange gain/(loss) and special items R=J–K– L+M–P 243 339 1,086 828 1,126 Basic earnings/(loss) per share S=J/I 0.78 1.25 4.19 4.03 5.37 Adjusted earnings/(loss) per share, excluding foreign currency exchange gain/(loss) T=Q/I 0.97 1.22 4.75 2.90 4.25 Adjusted earnings/(loss) per share, excluding foreign currency exchange gain/(loss) and special items U=R/I 0.95 1.33 4.26 3.25 4.42 1 Se section "Special items" for details.
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34 Yara Third-Quarter Report 2026 Special items EBITDA effect Operating income effect Fixed cost effect USD millions 3Q 2026 3Q 2025 YTD 2026 YTD 2025 3Q 2026 3Q 2025 YTD 2026 YTD 2025 3Q 2026 3Q 2025 YTD 2026 YTD 2025 Restructuring - - - (15) - - - (15) - - - (15) Impairment - - - - - - 4 - - - - - Other - (35) - (35) - (35) - (35) - (35) - (35) Sale of EUAs 22 - 153 - 22 - 153 - - - - - Total Europe 22 (35) 153 (50) 22 (35) 157 (50) - (35) - (50) Restructuring - (1) - (16) - (1) - (16) - (1) - (16) Impairment - - - - - (1) - (1) - - - - Total Americas - (1) - (16) - (2) - (17) - (1) - (16) Restructuring - - - (1) - - - (1) - - - (1) Total Africa & Asia - - - (1) - - - (1) - - - (1) Restructuring - - - (2) - - - (2) - - - (2) Impairment - - - - - - (2) - - - - - Other (7) - (7) - (7) - (7) - (7) - (7) - Sale of EUAs - - 22 - - 22 - - - - - Total Global Production (7) - 15 (2) (7) - 13 (2) (7) - (7) (2) Restructuring - (1) - (23) - (1) - (23) - (1) - (20) Impairment - - - - (13) - (13) (1) - - - - Other 6 - 18 - 6 - 17 - - - - - Total Industrial Solutions 6 (1) 18 (23) (7) (1) 3 (24) - (1) - (20) Impairment - - - - - - (10) (6) - - - - Total Clean Ammonia - - - - - - (10) (6) - - - - Restructuring - 3 - (20) - 3 - (20) - 3 - (20) Total Other and Eliminations - 3 - (20) - 3 - (20) - 3 - (20) Total Yara 22 (34) 186 (113) 9 (35) 163 (121) (7) (34) (7) (109)
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35 Yara Third-Quarter Report 2026