Yara Announces the Commercial Launch of Agoro Carbon Alliance, enabling global farm decarbonization

The new farm decarbonization business has operations and partnerships across four continents

Oslo, Norway, May 7, 2021 - Yara, a leading crop nutrition solutions provider, today announced the commercial launch of Agoro Carbon Alliance, a global business created for farmers to earn additional revenue from positive climate action. By adopting climate-positive practices farmers can produce Farm Carbon Credits or climate-smart certified crops and help to decarbonize food supply chains. Agoro Carbon puts farmers at the center of the solution by incentivizing and enabling them to change practices and connecting them to the growing number of businesses looking for ways to achieve their climate pledges.

Agoro Carbon will support farmers with the agronomical expertise and practical support to successfully sequester carbon in the soil and reduce emissions from the field. This will in turn generate high-quality, third-party certified carbon credits and increase farmers' income. Farmers who join Agoro Carbon can therefore generate an additional sustainability income from carbon cropping while maintaining or even increasing crop yields. Farmers can make the transition to the climate-positive practices that best fit their operation and can choose the amount of acreage to enroll in the program.

"With the Agoro Carbon Alliance, our goal is to build a new global business that combines Yara's unique market position with an alliance approach that actively invites others to choose a more climate-positive food future," said Terje Knutsen, EVP Farming Solutions. "The farmer is at the center of everything we do at Yara. So we've designed Agoro Carbon to fit farmers' needs, and how we can best support them as a trusted partner."

This new business integrates Yara's global reach, local farmer relationships and nearly 115 years of proven agricultural innovation, in line with Yara's intention to build a more sustainable and profitable food future. This will be achieved by decarbonizing the food value chain in collaboration with farmers and partners across the globe. Agoro Carbon Alliance, a new Yara business, today launches commercial operations with a 30-person strong team and multiple partnerships across four continents (Europe, Brazil, India and the USA).

Agoro Carbon's ambition is both global and highly localized, with employees currently operating in 4 regions. Farmers in the United States are already working with Agoro Carbon to produce the first Farm Carbon Credits in 2021. Agoro Carbon also has employees in Brazil, India, and across Europe. The business has experts working to create value for farmers and the planet, with solutions to ensure that both smallholder and large farmers can benefit.

Knowing that tackling climate change will require a collective effort from partners across industries, Yara invites farmers, retailers and distributors, cooperatives, technology providers, lenders, insurers and the food industry to join the Agoro Carbon Alliance. Yara will host a virtual introduction event on June 8 to formally unveil details of Agoro Carbon, with additional information on how to get involved. We invite anyone interested in learning more to register for the event at www.yara.com/agoro/

To learn more about the Agoro Carbon Alliance and Yara, visit www.yara.com/agoro/ and www.yara.com

Media contact:
Name: Josiane Kremer
Phone: +47 481 80 451
Email: josiane.kremer@yara.com

Agoro Carbon Alliance contact:
Name: Kerri Pocock
Phone: +1 770 676 4661
Email: kerri.pocock@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 climate 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 2020, Yara reported revenues of USD 11.6 billion.

www.yara.com


About Agoro Carbon Alliance

Agoro Carbon Alliance is creating a new solution to our carbon challenge that's grounded in the soil. Our partners are committed to decarbonizing farming by helping transform practices on every farm on the planet, generating reliable Farm Carbon Credits and certified climate-smart crops.

Guided by transparency, security and collaboration, we create incentive for farmers, buyers, and consumers to choose change from the ground up. Agoro leverages Yara's deep agronomic knowledge and credibility to make it possible for every farm to transition to climate-positive farming practices, restoring carbon to the world's soils, and reversing the effects of climate change.

Meet our members and join the journey at www.yara.com/agoro

Attachments

• 2021-05-07 Yara Farming Solutions
• 2021-05-07 Terje Knutsen, EVP Farming Solutions Yara