Oslo, 2 July 2026: Yara International ASA, a leading crop nutrition and ammonia company, today announced that its U.S. subsidiary, Yara North America, Inc., has reached an agreement to acquire Gulf Coast Ammonia's (GCA) ammonia production facility in Texas City, Texas from GCA Holdings LLC, affiliated with Lotus Infrastructure Partners and MB Energy for a consideration of USD 1.3 billion.
Key Highlights
· The acquisition demonstrates execution of Yara's strategy to diversify its energy exposure and enhance the competitiveness of its global ammonia production footprint. · Yara will own the ammonia plant with an expected nameplate capacity of 1.3 mtpa, with Air Products supplying the industrial gases to Yara as part of a long -term supply agreement. · Yara will utilize its midstream ammonia platform to supply both external customers and its own internal sourcing needs. · The plant is currently in commissioning and is anticipated to continue ramping up toward full production and stable operations by end of 2026, with production targeted at above nameplate capacity. · Yara sees investing in the U.S. as highly attractive, reinforcing its long -time presence as a reliable provider of crop nutrition solutions and producer of ammonia.
"By bringing this plant into the Yara portfolio, we are strengthening our operational resilience and diversifying our energy costs at a time when supply flexibility matters more than ever. This addition of world-class U.S. production capacity supports our long term strategy of diversifying our energy exposure, capturing economies of scale, and lowering both fixed costs and capital per tonne. With a century of experience and a proven commitment to safety across our operations, sales, and distribution networks in over 60 countries, Yara will contribute to reliable supply across critical value chains, in the U.S. and beyond," said Svein Tore Holsether, President and Chief Executive Officer.
Strengthening Yara's competitiveness
The acquisition demonstrates execution of Yara's strategy to diversify its energy exposure through value-accretive, disciplined investments that improve competitiveness and support long-term earnings expansion.
Yara will utilize its midstream ammonia platform to supply both external customers, and its own internal sourcing needs. This further strengthens Yara's ability to serve its fertilizer production system and key industrial customers with reliable ammonia supply.
The acquisition includes the ammonia synthesis loop and related ammonia storage and exclusive use of loading infrastructure. Hydrogen and nitrogen supply, along with other utilities, are supplied through a long-term contract with Air Products, which owns and operates the largest hydrogen pipeline network in the United States. This contributes to Yara's strategic priority of gas diversification, with a significant increase of U.S. gas exposure (Henry Hub). The set-up is similar to Yara's operations in Freeport, Texas, where a comparable model combined with Yara's ammonia expertise has supported strong operational improvements and consistently high performance.
The plant is completing outstanding work toward a gradual ramp-up to its 1.3 million metric ton nameplate capacity and stable operations, currently anticipated by the end of 2026. Yara brings a century of experience in ammonia production to this acquisition and will work together with Air Products to improve plant reliability and performance, targeting production to or beyond nameplate capacity. Following a comprehensive technical due diligence, Yara confirmed the GCA plant's potential to become one of the most efficient and profitable assets in the global portfolio, strengthening Yara's position on the global ammonia cost curve.
Yara's flexible system enables multiple pathways for profitable decarbonization. Yara and Air Products extend their collaboration through this acquisition, and through finalizing the previously announced marketing and distribution agreement for renewable ammonia from the NEOM Green Hydrogen plant in Saudia Arabia. In addition, the set up in GCA presents opportunities for a flexible, step-wise entry to low-carbon ammonia, subject to regulatory development and financial viability.
Financial impact and capital discipline
The USD 1.3 billion consideration increases Yara's total capex outlay for 2026 to USD 2.5 billion and is within the expected capex allocated for ammonia investments 2026-2030 at our Capital Markets Day in January 2026. As of 1Q 2026, Yara reported a strong balance sheet with Net debt/EBITDA[1] of 1.00. This acquisition implies a pro forma Net Debt/EBITDA[1] of 1.73 including dividend payment made in May, remaining within the limits of Yara's capital allocation policy.
Yara reiterates its capital allocation framework for 2026-2030 targeting average annual capex spend of 1.2 BUSD in real terms, strict capital discipline and shareholder returns in line with its dividend policy. While this acquisition brings forward part of the anticipated growth capex for the next years, it also accelerates the associated cash flows from new ammonia capacity. Further growth investments over the period will be limited and focused on selective high return opportunities.
Parallel to executing its strategic priorities through this acquisition, Yara remains focused on its improvement to strengthen cash flow and maintain balance sheet robustness, while continuing to deliver attractive shareholder distributions. Yara remains committed to its capital allocation policy based on an overall objective of maximizing value creation for shareholders and maintaining a BBB/Baa2 credit rating, with a targeted capital structure consisting of a mid-to-long term net debt/EBITDA[1] excl. special items rate of 1.5-2.0 and a net debt/equity[1] ratio below 0.60.
Following completion of the acquisition, Yara's immediate priority will be commissioning the GCA plant while delivering on its previously announced EBITDA[1] improvement targets. With its resilient, future-ready business model, Yara is well positioned to deliver strong shareholder returns today and in the future.
Sellers offered the plant for sale pursuant to an auction process, facilitated by J.P. Morgan Securities LLC who acted as financial advisor to GCA Holdings, LLC in connection with the transaction. Completion of the acquisition is subject to customary closing conditions, including receipt of relevant regulatory approvals.
Yara will host an investor and analyst conference call at 13:30 CEST on 2 July 2026. For details and instructions, visit https://www.yara.com/investor -relations/financial-calendar/2026-07-02-yara-conference-call/.
1) For definition and reconciliation see APM section in Yara's 1Q 2026 report, pages 22-29.
Contact Maria Gabrielsen, Investor Relations M: +47 920 900 93 E: maria.gabrielsen@yara.com
Contact Media Relations M: +47 400 04 170 E: press@yara.com
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Maria Gabrielsen, Head of Investor Relations, at Yara International ASA, on 2 July 2026 at 11:00 CEST.
About Yara in the United States
Yara North America, Inc. is a provider of crop nutrition, ammonia, and industrial solutions serving agricultural and industrial customers in the United States. With a U.S. presence dating back to 1946, Yara North America, Inc. employs approximately 185 people and operates seven strategically located import and distribution terminals that support key industrial and agricultural regions, particularly for specialty crop production. In addition, Yara is the majority owner of a joint venture that owns an ammonia production facility in Freeport, Texas.
About Yara
Yara is a global leader in crop nutrition and ammonia with a mission to responsibly feed the world and protect the planet.
Yara operates a global, flexible production system that delivers a diversified portfolio of nitrogen-based products. With our extensive global market reach and more than a century of agronomic knowledge and continuous innovation, we partner across the value chain to improve crop yields, optimize resource use, and reduce environmental impact.
Through diversified energy exposure and profitable decarbonization efforts, Yara is uniquely positioned to strengthen industrial competitiveness and create long-term value for customers, shareholders, employees, and society at large.
Founded in Norway in 1905, Yara operates in over 60 countries and serves more than 140 markets, employing about 15,700 people. In 2025, Yara reported revenues of USD 15.7 billion.
For more information, visit yara.com (https://www.yara.com/) or follow us on LinkedIn (https://www.linkedin.com/company/yara), X (https://x.com/yara), Facebook (https://www.facebook.com/yarainternational) or Instagram (https://www.instagram.com/yarainternational/).
This information is subject to the disclosure requirements pursuant to Section 5 -12 the Norwegian Securities Trading Act
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