Yara International ASA — M&A Activity 2015

Nov 30, 2015

Yara brings new partner into Dallol project

Yara brings new partner into Dallol project

Oslo, 30 November 2015: Liberty Metals & Mining Holdings, LLC, a subsidiary of

Boston-based Liberty Mutual Insurance ("LMM") has acquired 25% of the shares in

Yara Dallol B.V. ("Yara Dallol") for USD 51.25 million. Yara's share of the

proceeds is USD 35.4 million.

Reference is made to the press release on 13 February 2015, confirming the

feasibility of extracting potash in the Danakil depression in North-Eastern

Ethiopia. Following this transaction Yara will hold 51.8% of the shares, LMM

25% and XLR Capital Limited 23.2% in Yara Dallol.

"The Dallol project will support Yara's strategy for further development of

premium fertilizer for high-value crops, and this transaction underlines the

attractiveness of the project. We are pleased to join forces with a dedicated

investor like LMM, and look forward to develop the project further with our

partners," said Svein Tore Holsether, President and CEO of Yara.

The feasibility study confirmed reserves and the technical viability for an

annual production of 600,000 metric tonnes sulphate of potash (SOP) over a 23-

year period. Yara Dallol has additional resources to either expand annual

production or increase the life of the project, as new market segments for SOP

are developed.

Yara Dallol aims to begin mining activities by the end of 2018. The independent

feasibility study estimated the capital expenditure of the project at USD 740

million and cash cost at USD 167 per metric tonne delivered (fob) Djibouti,

among the lowest in the industry.

Closing is expected before the end of 2015, and the final investment decision

for the project is planned for mid-2016.

Contact

Thor Giæver, Investor Relations

Telephone: (+47) 24 15 72 95

Cellular: (+47) 48 07 53 56

E-mail: thor.giaver@yara.com

Esben Tuman, Media Relations

Telephone: (+47) 24 15 70 26

Mobile: (+47) 90 50 84 00

Email: esben.tuman@yara.com

About Yara

Yara's knowledge, products and solutions grow farmers', distributors' and

industrial customers' businesses profitably and responsibly, while nurturing and

protecting the earth's resources, food and environment.

Our fertilizers, crop nutrition programs and technologies increase yields,

improve product quality and reduce the environmental impact of agricultural

practices. Our industrial and environmental solutions improve air quality by

reducing emissions from industry and transportation, and serve as key

ingredients in the production of a wide range of goods. We foster a culture that

promotes the safety of our employees, contractors and societies.

Founded in 1905 to solve emerging famine in Europe, today, Yara has a worldwide

presence, with more than 12,000 employees and sales to more than 150 countries.

www.yara.com

This information is subject to the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

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