Yara Brasil Fertilizantes S.A. and Petróleo Brasileiro S.A. – Petrobras have signed a non-binding Master Agreement, marking the next step forward in their negotiations to structure a potential business partnership. This follows the Memorandum of Understanding signed on February 29, 2024.

In the upcoming phase, Yara and Petrobras will jointly finalize their analysis of potential synergies between their operations. This collaboration aims to increase efficiencies in the local fertilizer and industrial products market, with a particular focus on exploring possible decarbonization paths.

Brazil is a significant market for both agricultural and industrial applications, emphasizing domestic production growth and future decarbonization efforts. Yara is at the forefront of addressing the food crisis and is committed to decarbonizing the food value chain, essential industrial and air-quality applications, and providing zero-emission shipping fuel and energy solutions. Successful collaboration across the entire value chain is deemed essential for achieving these goals.

Relevant updates regarding the partnership and its progress will be shared with the market in due course.

For more information visit www.yara.com

10th July 2024