YARA INTERNATIONAL ASA 
Future-proofing
European assets
Johan Labby
EVP Global Plants and Operational Excellence
Thor Giæver
EVP and CFO
14 March 2024
Site visit | Yara Sluiskil, the Netherlands
Sluiskil is a cornerstone in Yara's production system
Sluiskil products
Annual production capacity in million tonnes
1.9 1.9
1.3 | 1.4 |
0.6
Urea | Nitrates Ammonia Nitric Acid | UAN |
~15% of Yara's total production capacity
3 ammonia plants | Serving more than | |
2 nitric acid plants | 40 markets | |
3 urea plants | across all continents | |
2 nitrate plants | ||
Word class production performance: safety, reliability, energy efficiency, and emissions
700 | Production since 1929 | |
employees | ||
2
Sluiskil power brands generate strong nitrate premiums
- 130 USD/t premium
generated1
Africa & Asia
~10% of volumes
Europe
~45% of volumes
Americas
~45% of volumes
1) Premium generated as reported in Yara's KPI scorecard in quarterly reports divided per volume of Sluiskil prorducts sold. For reconciliation see the appendix, slide 21.
3
Sluiskil CCS a milestone for decarbonizing hard-to-abate industry in Europe
Sluiskil CO2 balance | Sluiskil CCS project | Project layout |
Million tons CO2e per annum, illustrative |
3.2 | |||||
Milestone for decarbonizing hard-to-abate industry | |||||
0.9 | in Europe, based on the world's first cross-border | ||||
CCS agreement | |||||
0.5 | |||||
0.8 | Targeting annual CO2-emission reduction of 0.8 | ||||
1.0 | million tons from the ammonia production | ||||
Increases Yara's product offering with 1.8 million | |||||
tons of Low-Carbon Nitrates1 , and enables | |||||
Gross | Urea | Third | CCS | Remaining | avoidance of carbon |
CO2 | production | party | |||
emissions | utilization | Remaining ~30% more | |||
complicated to capture as | |||||
originates from different part | |||||
of the production process |
Air coolers
CO2 Liquefaction
Compressor house
Substation
CO2 storage
1) Nitrates produced based on low- carbon ammonia; +60% of related CO2 captured and sent to permanent storage | 4 |
Our ambition is zero injuries
TRI1 (12-month rolling)
1.4
1.1
2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
PSIF2 (12-month rolling)
1.5
0.6 | |||||
2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
1) Total Recordable Injuries per 1 million working hours | 5 |
- Potential Serious Injury or Fatality per 1 million working hours
Yara's production system
Finished products
Annual production capacity in million tonnes1
7.1 6.6
5.3
1.6 1.0
Urea Nitrates NPK CN2 UAN
Intermediary products
Annual production capacity in million tonnes1
8.5 8.6
Africa & Asia
Americas
Europe
Ammonia Nitric Acid
26 plants
in 16 countries
Serving more than
150 markets
across all continents
9 500
employees
1 200
products
1) | Including Yara's share of joint venture plants. Capacity calculated as average of best three quarters annualized performance and best 12 month rolling over past five years. This is | 6 |
also the case for Yara's expansion projects and newbuilds (Freeport, Pilbara Nitrates) implying a gradual ramp up of proven capacity. | ||
2) | Dry product equivalent (15.5% N) | |
Geopolitical situation strengthens business case for operational flexibility and resilience
Key geopolitical risk drivers
Flexible production setup,
Europe: Energy crisis and Ukraine war, EU
regulations
Russia and Belarus: food, |
gas, raw materials |
asset footprint and diversified natural gas position are key mitigating factors
US: Inflation reduction act
Middle East: |
escalation of |
conflicts |
China: trade policies
Brazil: increased | Africa: Food |
competition from Russian | system |
product | resilience |
7
Driving production performance in a more demanding operating environment
Ammonia production1,2 (mt) | Finished product production1,2 (mt) | |
+3%
7.8
7.7
7.6
7.5
7.8
7.7
20.4
+4%
21.3
20.8
20.6
21.1
20.5
2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2018 | 2019 | 2020 | 2021 | 2022 | `2023 |
Reliability
Efficiency
Flexibility
Decarbonization
1) | Volumes adjusted for portfolio changes | 8 |
2) | Yara Improvement Program measurement, adjusted for curtailments | |
Production system resilient to new raw material sources
Shift in raw material sourcing after sanctions were implemented
Potash Suppliers | Phosphate Suppliers | |||||||
2021 | 2022-23 | 2021 | 2022-23 | |||||
Europe | Middle East | Africa | Middle East | |||||
Russia | North America | Russia | Other | |||||
Belarus | ||||||||
Core assets demonstrating resilience
- Asset flexibility combined with a capable and engaged workforce ensures adaptations to raw materials with different qualities and attributes
- There have been no significant NPK production losses related to sourcing after the sanctions were implemented
- Downsides linked to higher maintenance activity partly offset by unforeseen upsides
9
Strong progress on decarbonizing nitric acid production plants, next stage is ammonia
Majority of GHG investments are in Europe | Highly profitable projects in Europe with low execution time | |||||
25+ Projects executed since 2019 | ||||||
17% | ||||||
0.6 Mt annual CO2 reduction | ||||||
3 years average payback time | ||||||
1 MUSD represents 6.6t/y in CO2 reduction | ||||||
83% | (Low hanging fruits, future projects will be less profitable) | |||||
Europe | Rest of the World | 150+ MUSD invested since 2019 | ||||
Most GHG project linked to nitric acid burner replacement with Yara's catalyst technology
10
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Yara International ASA published this content on 14 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 March 2024 13:05:11 UTC.
