ICEF 2022
Date:
06 Oct, 2022

Ammonia – key to decarbonize the world
Rapid growth in GHG emissions from hard-to-abate industries

Ammonia is an attractive solution

BnT CO2 p.a.

Breakdown of GHG emissions by sector1

40

35

Buildings
Industry

13%30
Agriculture

30%
12%

25

20

Share ofGHG
emissions

Highly versatile with multiple direct
applications(2017)

21%
15

Ideal energy carrier with favorable
performance across clean fuel KPIs2

24%

Transportation

10501900

Clean ammonia available throughexisting blue and green production
methods

Power

87% from hard-to-abateindustries where ammonia canfacilitate decarbonization
1920

1940

1960

1980

2000

Well-established global
infrastructure and storage network

2020

Source: “Net-Zero Europe”, McKinsey & Company, 2020; “Global Carbon Budget 2021”, Global Carbon Project, 2021;
Arkwright market study 2021
1) Based on direct EU emissions in CO2 equivalents
2) KPIs include density, cost, scalability and distribution

2YCA is a leading1 global ammonia platform wellpositioned to capture the market for clean ammonia
YCA in brief

A key enabler of decarbonization of hardto-abate industries, connecting upstream
projects with new customer applications

Company highlights

USD 3.0bn

USD 159m>20%

Q1 2022 LTM Revenues

Q1 2022 LTM EBITDA2

Market share ofmerchant/tradedammonia in 20211

4.1mT

#12

#18

Ammonia transported
and sold Q1 2022 LTM

Owned and leased
purpose-built ammonia
vessels

Terminal access in key
locations3

The #1 integrated midstream platform in
the ammonia value chain1, with assetbacked supply and a global footprint

Standalone entity backed by majority ownerand preferred partner Yara, which has
almost 100 years of ammonia experience

Source: Company information
1) Based on volumes of traded ammonia in 2021 - Argus market study (2022)
2) EBITDA is defined as operating income plus depreciation and amortization and interest income and other financial income
3) YCA has exclusive access, and manages and optimizes use of Yara's ammonia tank infrastructure at terminals throughsourcing and supply agreements with Yara3

YCA has an established global network with accessto asset-backed supply
Overview of YCA’s global footprint

YCA has a differentiated model
Producers
w. inhousefreightYCATraderAssetbacked
supplyNetwork/terminal
accessOptimization
opportunities

Marketinsight

Trade flows

YCA terminal access1

Yara export production sites

Third-party terminals

Countries present (Σ = almost 40)

Low

High

#1 global player with >20% market share2 and leading positions in key regions
Source: Company information
1) YCA has exclusive access, and manages and optimizes use of Yara's ammonia tankinfrastructure at terminals through sourcing and supply agreements with Yara
2) Based on volumes of traded ammonia in 2021 - Argus market study (2022)

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Cross-sector collaboration to establish competitive
Clean Ammonia Supply Chain to Japan
Petrochemical

Power GenerationShippingRefinery5YCA’s strategy builds on existing success factors
and competitive edge
Key success factors
Reliable and asset-backed supply

Global scale and flexibility~100 years of ammonia experience

Track record of safe operations

YCA’s competitive edge

YCA’s competitive edge
Integrated
midstream

Upstream

Current presence

Downstream

Handled by Yara today –own production to be
developed by YCA#1 global midstream player

Leverage commercialpartners to create demand“pull” in new segments▪ Access to Yara’s project
portfolio▪ Project development
expertise▪ Credible offtaker▪ Asset-backed supply▪ Existing platform andaccess to infrastructure▪ Long-standing
relationships▪ Asset-backed supply▪ Partnerships with sector
leaders▪ Sites near key hubs andterminals

Market insight
Track record of safe handling and operations
Existing long-term customer
relationships

Unique starting position as the market
leader in midstream ammonia1

Integration will remain critical in building scale and creating value in the developing
clean ammonia market

Source: Company information
1) Based on volumes of traded ammonia in 2021 - Argus market study (2022)

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Growth supported by solid upstream projects,
building on YCA’s leading1 midstream position
Key success factors

Blue ammonia

Green ammonia

Robust pipeline with solid project economics andprofitability without need for further subsidies

Early mover strategy where government support
will be required – anticipated lower costs in thefuture will increase competitivenessKey regions

Key regions

Selected project candidates~2.1mT
volume by2030E2

Selected project candidates

12

Majority stake

Own pilots

2
Offtake-only~0.4mT✓

Access to existing production assetsthat can be converted to blue or green atlower costs compared to greenfield
investments✓

Knowledge and experience built
through Yara’s almost 100 years ofammonia track record and over 8mTammonia production capacity3✓Market leading position makes YCA thepreferred offtaker and partner for Yara
and other third-parties, in turn enabling
new projects

volume by
2030E2

HEGRA

Well-positioned with a maturing project hopper and additional long-term opportunities

Source: Company information
1) Based on volumes of traded ammonia in 2021 - Argus market study (2022)
2) Estimated volume by the company for the selected candidate projects, excluding third-party project offtake3) Ammonia production capacity as of 2021

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