ADAMA Reports First Quarter 2026 Results

Sales growth with improvement in net profit

BEIJING CHINA and TEL AVIV ISRAEL April 29 2026 – ADAMA Ltd. (the “Company”) (SZSE

000553) today reported its financial results for the first quarter ended March 31 2026.

First Quarter 2026 Highlights:

* Sales increased 4% (0.5% in RMB) to $1037 million mainly reflecting a 3% increase in volumes

* Adjusted gross profit up 5% to $318 million with an improvement in gross margin from 30.3%

in Q1 2025 to 30.6% in Q1 2026 reflecting the benefits of higher volumes and improved

business quality

* Reported net profit increased 2.9 times to $82 million vs $21 million in Q1 2025; Adjusted net

profit increased 35% to $59 million from $44 million in Q1 2025

* Adjusted EBITDA amounted to $150 million vs $160 million in Q1 2025

* Operating cash outflow was -$141 million in Q1 2026 vs. -$29 million in Q1 2025

* Free cash outflow was -$139 million in Q1 2026 vs. -$86 million in Q1 2025

Ga?l Hili President and CEO of ADAMA said "The strong foundation built through our Fight

Forward transformation plan now provides the base for the next phase of our strategy execution

focused on profitable growth. In the first quarter of 2026 ADAMA delivered sales and gross profit

growth and higher net income reflecting improved volumes and continued progress in portfolio

quality. At the same time profitability and cash generation in the quarter were affected by higher

operating expenses and increased working capital reflecting investments to support growth and

inventory build up to capture recovering market momentum. I remain confident that ADAMA is well

positioned to capture market opportunities and deliver sustainable long-term value for our customers

and investors."

1Table 1. Financial Performance Summary

As Reported Adjustments Adjusted

USD (m) Q1 Q1

2026 2025 % Change

Q1 Q1 Q1 Q1

2026 2025 2026 2025 % Change

Revenues 1037 1000 4% 0 0 1037 1000 4%

Gross profit 287 272 6% 30 31 318 303 5%

% of sales 27.7% 27.2% 30.6% 30.3%

Operating income (EBIT) 110 70 57% (22) 26 88 96 -8%

% of sales 10.6% 7.0% 8.5% 9.6%

Income before taxes 60 18 228% (22) 23 38 42 -8%

% of sales 5.8% 1.8% 3.7% 4.2%

Net profit 82 21 289% (23) 23 59 44 35%

% of sales 7.8% 2.1% 5.7% 4.4%

EPS

- USD 0.0352 0.0090 0.0253 0. 0188

- RMB 0.2443 0.0649 0.1760 0.1350

EBITDA 182 144 27% (33) 16 150 160 -6%

% of sales 17.6% 14.4% 14.5% 16.0%

Notes:

* “As Reported” denotes the Company’s financial statements according to the Accounting Standards for Business Enterprises and the

implementation guidance interpretations and other relevant provisions issued or revised subsequently by the Chinese Ministry of

Finance (the “MoF) (collectively referred to as “ASBE”). Note that in the reported financial statements according to the ASBE

guidelines [IAS 37] certain items (specifically certain transportation costs and certain idleness charges) are classified under COGS.Please see the appendix to this release for further information.* Relevant income statement items contained in this release are also presented on an “Adjusted” basis which exclude items that are of

a transitory or non-cash/non-operational nature that do not impact the ongoing performance of the business and reflect the way the

Company’s management and the Board of Directors view the performance of the Company internally. The Company believes that

excluding the effects of these items from its operating results allows management and investors to effectively compare the true

underlying financial performance of its business from period to period and against its global peers. A detailed summary of these

adjustments appears in the appendix below.* The number of shares used to calculate both basic and diluted earnings per share in both Q1 2026 and 2025 is 2329.8 million shares.* In this table and all tables in this release numbers may not sum due to rounding.The general crop protection (CP) market environment

Recent geopolitical developments are introducing market volatilities that could prove either transitory

or structural as events unfold with higher oil prices posing a potential inflationary pressure on the

market and potentially pressuring farmer profitability. While channel demand has rebounded in 2025

and inventory levels have largely returned to pre- pandemic norms in the first quarter of 2026 pricing

pressures remain elevated due to persistent oversupply and production over- capacity of active

ingredients. Crop commodity prices are stabilizing at relatively low levels but remain sensitive to

geopolitical risks limiting upside for farmer income. As a result ongoing pressure on farmer

profitability continues to drive just- in- time purchasing behavior even as volumes normalize across

most markets after growth achieved in the market in 2025.1

1 Sources AgbioInvestor Crop protection 2025 Summary and 2026 outlook (November 2025) peer quarterly financial

results internal sources

2Strategy execution

In 2026 ADAMA entered the next phase of its strategy execution building on the achievements of

the Fight Forward program. With a stronger cost base better operational efficiency and enhanced

capabilities the Company is now focused on driving profitable top-line growth while continuing to

improve business quality. ADAMA aims to deliver this by strengthening commercial capabilities

accelerating differentiated innovation improving portfolio quality and shaping a lighter and

competitive global supply and manufacturing network.Sustainability

ADAMA has published its 2025 ESG Report highlighting progress across key ESG areas including

a 21% reduction in Scope 1 and Scope 2 greenhouse gas emissions and the training of more than

680000 farmers and agricultural workers on the safe and responsible use of crop protection

products. This progress reflects continued efforts to improve operational efficiency strengthen

safety and stewardship practices and manage ESG-related risks across the business. For further

details please refer to the full ESG Report released on the 29th of April 2026.Portfolio development update

During Q1 2026 ADAMA continued to register and launch multiple new products in markets across

the globe adding on to its differentiated product portfolio. The Company continued to focus on

advanced value?driven formulations supporting optimization of its product portfolio.Q1 2026 launches of differentiated products included:

FORABAZ (India): Launched as an SC (suspension concentrate) formulation combining

Chlorantraniliprole and Novaluron. It provides fruit and vegetable growers with early and

long-lasting caterpillar control supporting yield protection and resistance management.BREVIS SC (Canada): A novel Metamitron-based plant growth regulator delivering

consistent and reliable fruitlet thinning in pome fruits such as apples and pears.MARATHON (Australia): ADAMA’s first high-load Pyrasulfotole formulation with an in-built

crop safener. Marathon delivers early post-emergence control of challenging and herbicide-

resistant weeds in wheat and barley with flexible tank-mix options and robust performance

for yield protection and resistance management.ATEKA (USA): Ateka insecticide is a high-load Spirotetramat based fully systemic

solution designed to help fruit and vegetable growers clean out tough sucking pests with

speed and staying power. Powered by the proprietary Ayalon Formulation Technology

Ateka enhances leaf penetration and plant uptake delivering earlier population control and

enhanced performance.COSAYR (Germany Poland Romania and Czech Republic): A long-lasting

Chlorantraniliprole-based suspension to deliver fast and effective control of chewing insects

across a wide range of horticultural and field crops.

3 Prothioconazole-based Products Expansion: ADAMA continued to extend its

Prothioconazole-based portfolio launching several combinations and solo formulations

across EU and other key markets. Products such as MAGANIC MAXENTIS AVASTEL

and SORATEL leverage ADAMA’s proprietary ASORBITAL Formulation Technology for

enhanced uptake and systemic performance.Notable differentiated product registrations included:

GALIL nano (Brazil): ADAMA’s Bifenthrin and Imidacloprid SC insecticide with

nanotechnology-enhanced coverage delivering reliable control of stink bugs and corn

leafhoppers in soybean and corn across diverse weather conditions.TELAVEX (Germany and Belgium): A powerful OD formulation for corn that combines

Mesotrione and Thiencarbazone-methyl with a safener to deliver robust control of grass and

broad-leaf weeds for both pre- and early post-emergence application.SPIROTETRAMAT Active ingredient (India): Registration approved enabling ADAMA to

advance its insect control solutions in key crops across the Indian market.PLEMAX (Israel): A dual-mode-of-action SC insecticide combining Novaluron and

Indoxacarb Plemax delivers robust knockdown and residual control of key chewing pests in

brassicas leafy and fruiting vegetables protecting yield and supporting resistance

management.EDAPTIS (Hungary and Belgium): An innovative post-emergence herbicide that combines

Pinoxaden and Mesosulfuron-methyl to provide effective control of a broad spectrum of

grasses including resistant populations with a patented formulation that ensures stable and

reliable performance.SAFLIX (Argentina): Easy-to-use liquid Saflufenacil formulation that delivers enhanced

control of tough broadleaf weeds

LEAXO (Germany): A universal systemic insecticide based on Acetamiprid providing a

reliable solution for the protection of rapeseed cereals beetroot and potatoes.In addition patents granted during Q1 2026 included ones for Gilboa Liquid composition in Brazil

and Japan in addition to synthetic processes in India and Israel as well as patents for

Chlorantraniliprole process in Brazil Korea and Israel.Geopolitical Situation

ADAMA is a global company with manufacturing and formulation facilities in several locations

around the world principally in Israel China and Brazil. It is headquartered and has three

manufacturing sites in Israel. Despite regional tensions that have escalated more recently on

February 28 2026 the Company’s Israeli production sites and supply chain including ports

continued to operate without significant delays allowing the Company to support its markets and

ongoing activities.During March and early April 2026 the Company's Neot Hovav site suffered limited and localized

damage caused by falling debris following missile interceptions in the southern region of Israel. No

4bodily injuries were reported and an immediate safety-driven closure of the facilities was carried out

followed by a phased shutdown also for safety reasons. The Company initiated comprehensive

damage assessments. The direct damage to its core production facilities was not meaningful and

was primarily limited to a finished goods warehouse certain ancillary equipment and systems and

an open storage area. Thereafter the Company undertook certain restoration activities and as of

the date of this release Neot Hovav site has mostly returned to normal operational status with the

remaining facilities undergoing a safe and orderly repair process expected to be completed within

the next few weeks with full restoration to optimal production capacity anticipated soon thereafter.The Company currently expects the overall impact of these occurrences to be non-material.ADAMA’s global production operations have continued largely uninterrupted except for the

abovementioned occurrences with no material impact expected on production or business

continuity.Additionally in respect to changes in global tariff policies the Company’s management appointed a

dedicated task force to analyze implications of global tariff policies on ADAMA and its sector and to

closely monitor and manage the situation and the potential impact on ADAMA’s global network.Despite the uncertainty regarding changes to trade and tariff policies around the world the

Company currently expects that the impact on its operations and business results will continue to

be immaterial.Financial Highlights

Revenues in the first quarter increased by approximately 4% (0.5% in RMB; -1% in CER) to $1037

million compared to last year reflecting 3% increase in volumes and positive foreign exchange

impacts partially offset by 4% decrease in prices.In the first quarter sales increased reflecting higher volumes and improved demand in the market

supported by new product introductions while the Company reduced the manufacturing and sale of

certain basic chemicals and low-margin products. Lower prices reflected the overall lower market

pricing and weaker farmer purchasing power.Table 2. Regional Sales Performance

Q1 2026 Q1 2025 Change Change

$m $m USD CER

Europe Africa & Middle East 406 356 14% 5%

North America 237 219 8% 8%

Latin America 144 147 (2%) (7%)

Asia Pacific 249 278 (10%) (12%)

Of which China 134 166 (19%) (21%)

Total 1037 1000 4% (1%)

Notes:

CER: Constant Exchange Rates

Numbers may not sum due to rounding

Europe Africa & Middle East (EAME): Strong growth in sales led by higher volumes in Europe

5building on the momentum gained in the close out to 2025. Higher sales were achieved following

good market positioning in an overall positive market mainly in off-patent products and despite

varied weather conditions and intense market competition.North America: In the North America Ag market higher sales volume in the first quarter was

supported by good market positioning in a price sensitive market with positive momentum on

product launches (ex CAZADOTM) and pre-seed presence despite pressured farmer profitability

and high competition in commodity products. In Consumer & Professional Solutions in the first

quarter on the Consumer side sales increased supported by favorable spring weather and low

retailer inventories. On the Professional side sales were impacted by just-in-time purchasing

patterns and lower pricing mainly in commoditized products.Latin America: In Brazil sales were slightly lower reflecting a major decline in market pricing

against the backdrop of lower farmer profitability and high competition in all segments and

especially in commodity products. The lower pricing was mostly offset by an increase in volumes

due to seizing market opportunities and experiencing good Soybean and the Winter Corn

seasons.In the rest of LATAM sales in the first quarter were lower than prior year driven primarily by a

decline in market pricing against the backdrop of lower farmer profitability and oversupply in the

market.Asia-Pacific (APAC): The sales in India increased in the first quarter supported by favorable

weather conditions. In the rest of APAC (excluding India and China) sales in the first quarter

were impacted by just-in-time purchasing patterns despite favorable weather as well as lower

pricing and high competition in commoditized products.In China sales declined mainly reflecting the Company’s decision to reduce manufacturing and

sale of certain basic chemicals and low-margin products as well as time-phasing of customized

AI products . The decline was partially compensated by higher sales of brand formulations driven

by new product launches and improved market penetration.Reported gross profit in the first quarter increased 6% to $287 million (gross margin of 27.7%)

compared to $272 million (gross margin of 27.2%) last year.Adjustments to reported results: The adjusted gross profit includes mainly

reclassification of inventory impairment taxes and surcharge and excludes certain

transportation costs (classified under operating expenses).Adjusted gross profit in the first quarter increased 5% to $318 million (gross margin of 30.6%)

compared to $303 million (gross margin of 30.3%) last year.Gross profit and its margin improved in the first quarter mainly reflecting favorable foreign exchange

impacts as well as higher sales and improved quality of the business more than compensating for

lower prices and cost increase.Reported operating expenses in the first quarter were $178 million (17.1% of sales) compared to

$202 million (20.2% of sales) last year.Adjustments to reported results: Please refer to the explanation regarding adjustments to the gross

profit in respect to certain transportation costs taxes and surcharges and inventory impairment.

6The Company recorded certain non-operational items within its reported operating

expenses amounting to an income of $24 million in Q1 2026 in comparison to expenses

of $25 million in Q1 2025. These items in 2026 mainly include: (i) non-cash amortization

charges in respect of transfer assets received from Syngenta related to the 2017

ChemChina-Syngenta acquisition; (ii) non-cash amortization net charges related to

intangible assets created as part of the Purchase Price Allocation (PPA) on acquisitions;

(iii) capital gain from sale of a subsidiary's logistics center in Israel; and (iv) restructuring

costs which significantly decreased as part of the implementation of the Fight Forward

transformation plan. For further details on these non-operational items please see the

appendix to this release.Adjusted operating expenses in the first quarter were $230 million (22.2% of sales) compared to

$207 million (20.7% of sales) last year.The operating expenses were higher in the first quarter reflecting the negative impact of exchange

rates an increase in employee compensation and an increase in expenses supporting sales growth.Reported operating income increased 57% to $110 million (10.6% of sales) in the first quarter

compared to $70 million (7.0% of sales) last year.Adjusted operating income in the first quarter decreased 8% to $88 million (8.5% of sales) from

$96 million (9.6% of sales) last year. The decline was attributed to the increase in operating

expenses which more than offset the higher gross profit.EBITDA reported in the first quarter increased 27% to $182 million (17.6% of sales) from $144

million (14.4% of sales) last year.Adjusted EBITDA in the first quarter declined 6% to $150 million (14.5% of sales) from $160 million

(16.0% of sales) last year.

Adjusted financial expenses decreased to $50 million in the first quarter compared to $54 million

last year. The lower financial expenses in the first quarter mainly reflected the favorable CPI as well

as the better debt structure and despite higher hedging costs related to foreign exchange.Adjusted taxes on income amounted to an income of $21 million in the first quarter compared to

an income of $2 million last year. The tax income in the first quarter of 2026 was higher compared to

the first quarter of 2025 mainly due to higher tax income recognized according to the accounting

method of calculation of tax assets related to unrealized profits.Reported net profit increased 289% to $82 million in the first quarter compared to $21 million last

year.After reflecting the impact of the above-mentioned extraordinary and non-operational charges

adjusted net profit in the first quarter increased 35% to $59 million from $44 million last year.Trade working capital as of March 31 2026 was $2297 million compared to $2256 million as of

March 31 2025. The increase in working capital was due to higher receivables which reflected sales

growth and an increase in the inventory level in preparation to capture momentum as the market

7recovers and to provide business continuity during the merging of entities in Israel compensated by

higher payables as a result an increase in procurement.Cash Flow: Operating cash outflow of $141 million in the first quarter compared to $29 million last

year. The negative operating cash flow which is seasonally typical for ADAMA in the first quarter

reflected lower collections due to timing differences.Net cash inflow from investing activities was $23 million in the first quarter compared to an outflow of

$37 million last year.The Company continued the execution of its strategy to prioritize the most critical investments in

infrastructure portfolio and innovation while optimizing existing assets to enable new growth

projects leading to the sale of a logistics center in Israel resulting in proceeds from the sale of this

real estate asset.Free cash outflow of $139 million was consumed in the first quarter compared to $86 million last

year reflecting the aforementioned operating and investing cash flow dynamics.Table 3. Revenues by operating segment

Sales by segment

Q1 2026 Q1 2025

USD (m) % USD (m) %

Crop Protection 972 94% 906 91%

Intermediates and Ingredients 65 6% 94 9%

Total 1037 100% 1000 100%

Sales by product category

Q1 2026 Q1 2025

USD (m) % USD (m) %

Herbicides 461 44% 445 45%

Insecticides 274 26% 243 24%

Fungicides 237 23% 217 22%

Intermediates and Ingredients 65 6% 94 9%

Total 1037 100% 1000 100%

Notes:

The sales split by product category is provided for convenience purposes only and is not representative of the way the Company is

managed or in which it makes its operational decisions.Numbers may not sum due to rounding.Further Information

8All filings of the Company together with a presentation of the key financial highlights of the period

can be accessed through the Company website at www.adama.com.About ADAMA

ADAMA Ltd. is a global leader in crop protection providing practical solutions to farmers across the

world to combat weeds insects and disease. Our culture empowers ADAMA's people to actively

listen to farmers and ideas from the field. ADAMA's diverse portfolio of existing active ingredients

coupled with its leading formulation capabilities and proprietary formulation technology platforms

uniquely position the company to develop high-quality innovative and sustainable products to

address the many challenges farmers and customers face today. ADAMA serves customers in

dozens of countries globally with direct presence in all top 20 markets. For more information visit

us at www.ADAMA.com.Contact

Rivka Neufeld Zhujun Wang

Investor Relations & Finance Governance Manager China Investor Relations

Email: ir@adama.com Email: irchina@adama.com

9Abridged Adjusted Consolidated Financial Statements

The following abridged consolidated financial statements and notes have been prepared as described in Note 1 in this

appendix. While prepared based on the principles of Chinese Accounting Standards (ASBE) they do not contain all of the

information which either ASBE or IFRS would require for a complete set of financial statements and should be read in

conjunction with the consolidated financial statements of both ADAMA Ltd. and Adama Agricultural Solutions Ltd. as filed

with the Shenzhen and Tel Aviv Stock Exchanges respectively.Relevant income statement items contained in this release are also presented on an “Adjusted” basis which exclude items

that are of a one-time or non-cash/non-operational nature that do not impact the ongoing performance of the business and

reflect the way the Company’s management and the Board of Directors view the performance of the Company internally.The Company believes that excluding the effects of these items from its operating results allows management and

investors to effectively compare the true underlying financial performance of its business from period to period and against

its global peers.Abridged Consolidated Income Statement for the First Quarter

Adjusted2 Q1 2026 Q1 2025 Q1 2026 Q1 2025USD (m) USD (m) RMB (m) RMB (m)

Revenues 1037 1000 7206 7173

Cost of Sales 712 694 4951 4981

Other costs 7 3 47 20

Gross profit 318 303 2208 2172

% of revenue 30.6% 30.3% 30.6% 30.3%

Selling & Distribution expenses 172 155 1198 1116

General & Administrative expenses 40 37 281 267

Research & Development expenses 15 14 105 103

Other operating expenses 2 0 14 2

Total operating expenses 230 207 1598 1487

% of revenue 22.2% 20.7% 22.2% 20.7%

Operating income (EBIT) 88 96 610 686

% of revenue 8.5% 9.6% 8.5% 9.6%

Financial expenses 50 54 344 387

Income before taxes 38 42 266 298

Taxes on Income (21) (2) (145) (16)

Net profit 59 44 410 315

% of revenue 5.6% 4.4% 5.6% 4.4%

Adjustments (23) 23 (159) 163

Reported net profit 82 21 569 151

% of revenue 7.9% 2.1% 7.9% 2.1%

Adjusted EBITDA 150 160 1041 1149

% of revenue 14.5% 16.0% 14.4% 16.0%

Adjusted EPS3 – Basic 0.0253 0.0188 0.1760 0.1350

– Diluted 0.0253 0.0188 0.1760 0.1350

Reported EPS4 – Basic 0.0352 0.0090 0.2443 0.0649

– Diluted 0.0352 0.0090 0.2443 0.0649

2 For an analysis of the differences between the adjusted income statement items and the income statement items as reported in the

financial statements see below “Analysis of Gaps between Adjusted Income Statement and Income Statement in Financial Statements”.

3The number of shares used to calculate both basic and diluted earnings per share in both Q1 2026 and 2025 is 2329.8 million shares.

10Abridged Consolidated Balance Sheet

March 31 March 31 March 31 March 31

2026202520262025

USD (m) USD (m) RMB (m) RMB (m)

Assets

Current assets:

Cash at bank and on hand 468 518 3238 3720

Bills and accounts receivable 1434 1400 9919 10049

Inventories 1687 1604 11672 11510

Other current assets receivables and

prepaid expenses 230 238 1591 1708

Total current assets 3818 3760 26421 26988

Non-current assets:

Fixed assets net 1542 1623 10666 11649

Rights of use assets 83 77 571 551

Intangible assets net 1305 1360 9030 9760

Deferred tax assets 222 197 1536 1413

Other non-current assets 127 94 878 673

Total non-current assets 3278 3350 22681 24046

Total assets 7096 7110 49102 51034

Liabilities

Current liabilities:

Loans and credit from banks and other

lenders 1595 1056 11040 7583

Bills and accounts payable 860 771 5954 5537

Other current liabilities 860 834 5951 5983

Total current liabilities 3316 2661 22944 19103

Long-term liabilities:

Loans and credit from banks and other

lenders 200 285 1382 2044

Debentures 701 865 4851 6207

Deferred tax liabilities 31 37 214 266

Employee benefits 80 77 553 554

Other long-term liabilities 180 519 1243 3725

Total long-term liabilities 1191 1783 8243 12796

Total liabilities 4507 4444 31187 31899

Equity

Total equity 2589 2666 17915 19135

Total liabilities and equity 7096 7110 49102 51034

11Abridged Consolidated Cash Flow Statement for the First Quarter

Q1 2026 Q1 2025 Q1 2026 Q1 2025

USD (m) USD (m) RMB (m) RMB (m)

Cash flow from operating activities:

Cash flow from operating activities (141) (29) (983) (207)

Cash flow from operating activities (141) (29) (983) (207)

Investing activities:

Acquisitions of fixed and intangible assets (39) (44) (271) (317)

Net cash received from sale of fixed assets intangible

assets and others 50 2 350 14

Other investing activities 11 6 77 41

Cash flow from investing activities 23 (37) 157 (262)

Financing activities:

Receipt of loans from banks and other lenders 97 137 676 980

Repayment of loans from banks and other lenders (27) (66) (185) (472)

Interest payment and other (20) (20) (139) (146)

Other financing activities 43 23 301 162

Cash flow from financing activities 94 73 652 523

Effects of exchange rate movement on cash and cash

equivalents 1 1 (47) (1)

Net change in cash and cash equivalents (24) 8 (221) 53

Cash and cash equivalents at the beginning of the period 477 499 3353 3584

Cash and cash equivalents at the end of the period 453 507 3132 3637

Free Cash Flow (139) （86） (963) (615)

12Notes to Abridged Consolidated Financial Statements

Note 1: Basis of preparation

Basis of presentation and accounting policies: The abridged consolidated financial statements for the

quarters ended March 31 2026 and 2025 incorporate the financial statements of ADAMA Ltd. and of all of its

subsidiaries (the “Company”) including Adama Agricultural Solutions Ltd. (“Solutions”) and its subsidiaries.The Company has adopted the Accounting Standards for Business Enterprises (ASBE) issued by the Ministry

of Finance (the "MoF") and the implementation guidance interpretations and other relevant provisions issued

or revised subsequently by the MoF (collectively referred to as “ASBE”).The abridged consolidated financial statements contained in this release are presented in both Chinese

Renminbi (RMB) as the Company’s shares are traded on the Shenzhen Stock Exchange as well as in United

States dollars ($) as this is the major currency in which the Company’s business is conducted. For the

purposes of this release a customary convenience translation has been used for the translation from RMB to

US dollars with Income Statement and Cash Flow items being translated using the quarterly average

exchange rate and Balance Sheet items being translated using the exchange rate at the end of the period.The preparation of financial statements requires management to make estimates and assumptions that affect

the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of

the financial statements and the reported amounts of revenues and expenses during the reporting period.Actual results could differ from those estimated.Note 2: Abridged Financial Statements

For ease of use the financial statements shown in this release have been abridged as follows:

Abridged Consolidated Income Statement:

“Gross profit” in this release is revenue less costs of goods sold taxes and surcharges inventory

impairment and other idleness charges (in addition to those already included in costs of goods sold);

part of the idleness charges is removed in the Adjusted financial statements

“Other operating expenses” includes impairment losses (not including inventory impairment); gain

(loss) from sale of assets and non-operating income and expenses

“Operating expenses” in this release differ from those in the formally reported financial statements in

that certain transportation costs have been reclassified from COGS to Operating Expenses.“Financial expenses” includes net financing expenses and gains/losses from changes in fair value.Abridged Consolidated Balance Sheet:

“Other current assets receivables and prepaid expenses” includes financial assets held for trading;

financial assets in respect of derivatives; prepayments; other receivables; and other current assets

“Fixed assets net” includes fixed assets and construction in progress

“Intangible assets net” includes intangible assets and goodwill

“Other non-current assets” includes other equity investments; long-term equity investments; long-term

receivables; investment property; and other non-current assets

“Loans and credit from banks and other lenders” includes short-term loans and non-current liabilities

due within one year

“Other current liabilities” includes financial liabilities in respect of derivatives; payables for employee

benefits taxes interest dividends and others; advances from customers and other current liabilities

“Other long-term liabilities” includes long-term payables provisions deferred income and other non-

current liabilities

13Income Statement Adjustments

Q1 2026 Q1 2025 Q1 2026 Q1 2025

USD (m) USD (m) RMB (m) RMB (m)

Reported Net Profit 82 21 569 151

Adjustments to COGS & Operating Expenses:

1. Amortization of acquisition-related PPA and other acquisition related

costs 4 4 25 26

2. Amortization of Transfer assets received and written-up due to 2017

ChemChina-Syngenta transaction (non-cash) 6 5 39 39

3. ASBEs classifications COGS impact (29) (30) (199) (215)

4. ASBEs classifications OPEX impact 29 30 199 215

5. Capital gain from sale of a subsidiary's logistics center in Israel (37) - (254) -

6. Restructuring costs 4 16 25 115

7. Other 2 1 12 5

Total Adjustments to Operating Income (EBIT) (22) 26 (153) 185

Total Adjustments to EBITDA (33) 16 (217) 118

Adjustments to Financing Expenses:

8. Arbitration decision related to a controlled subsidiary - (4) - (32)

9. Other financing expenses - 2 - 13

Adjustments to Taxes:

Taxes impact (1) 0 (6) (3)

Total Adjustments to Net Profit (23) 23 (159) 163

Adjusted Net Profit 59 44 410 315

14Notes:

1. Amortization of acquisition-related PPA and other acquisition related costs:

a. Amortization of Legacy PPA of 2011 acquisition of Solutions (non-cash): Under ASBE since the third combined reporting for

Q3 2017 the Company has inherited the historical “legacy” amortization charge that ChemChina previously was incurring in

respect of its acquisition of Solutions in 2011. This amortization is done in a linear manner on a quarterly basis most of

which will have been completed by the end of 2020.b. Amortization of acquisition-related PPA (non-cash) and other acquisition-related costs: Related mainly to the non-cash

amortization of intangible assets created as part of the Purchase Price Allocation (PPA) on acquisitions with no impact on

the ongoing performance of the companies acquired as well as other M&A-related costs.

2. Amortization of Transfer assets received and written-up due to 2017 ChemChina-Syngenta transaction (non-cash): The

proceeds from the Divestment of crop protection products in connection with the approval by the EU Commission of the

acquisition of Syngenta by ChemChina net of taxes and transaction expenses were paid to Syngenta in return for the transfer of

a portfolio of products in Europe of similar nature and economic value. Since the products acquired from Syngenta are of the

same nature and with the same net economic value as those divested and since in 2018 the Company adjusted for the one-time

gain that it made on the divested products the additional amortization charge incurred due to the written-up value of the acquired

assets is also adjusted to present a consistent view of Divestment and Transfer transactions which had no net impact on the

underlying economic performance of the Company. These additional amortization charges will continue until 2032 but at a

reducing rate yet will still be at a meaningful level until 2028.

3. & 4. ASBEs classifications COGS and OPEX impact: according to the ASBE guidelines [IAS 37] certain items (specifically

certain transportation costs) are classified under COGS.

5. Capital gain from sale of a subsidiary's logistics center in Israel: A subsidiary of the Company sold a logistic center in Israel as

part of optimizing its asset base and received capital gain

6. Restructuring costs: The Company initiated its Fight Forward transformation plan in early 2024. Part of the plan includes

restructuring its organizational structure workforce and managerial processes and as a result thereof the Company recorded

restructuring costs.

7. Other: Mainly attributable to accelerated depreciation associated with operational efficiency improvement project.

8. Arbitration decision related to a controlled subsidiary: An arbitration case related to a controlled subsidiary incurred a one-time

income.

15Exchange Rate Data for the Company's Principal Functional Currencies

March 31 Q1 Average

2026 2025 Change 2026 2025 Change

EUR/USD 1.15 1.08 6.2% 1.17 1.05 11.3%

USD/BRL 5.22 5.74 9.1% 5.27 5.85 9.9%

USD/PLN 3.74 3.86 3.2% 3.62 4.00 9.4%

USD/ZAR 17.18 18.21 5.7% 16.33 18.49 11.7%

AUD/USD 0.59 0.63 -6.1% 0.60 0.63 -4.6%

GBP/USD 1.32 1.29 2.2% 1.35 1.26 7.1%

USD/ILS 3.16 3.72 14.9% 3.12 3.61 13.6%

USD L 3M 3.7% 4.3% -0.6pb 3.6% 4.3% 0.7bp

March 31 Q1 Average

2026 2025 Change 2026 2025 Change

USD/RMB 6.92 7.76 -10.9% 6.95 7.76 -10.5%

EUR/RMB 7.95 7.18 10.7% 7.98 7.18 11.3%

RMB/BRL 0.75 0.80 5.7% 0.76 0.81 7.0%

RMB/PLN 0.54 0.54 -0.4% 0.52 0.56 6.5%

RMB/ZAR 2.48 2.54 2.1% 2.35 2.58 8.8%

AUD/RMB 4.76 4.49 6.2% 4.83 4.50 7.2%

GBP/RMB 9.15 9.02 1.5% 9.20 9.29 -1.0%

RMB/ILS 0.46 0.52 11.7% 0.46 0.50 9.1%

RMB L 3M 1.51% 1.91% -0.41bp 1.57% 1.81 -0.24bp

16