Share buy-back program

Yara executes share buy-back programs as an integrated part of its shareholder policy. This is based on our belief that share buy-backs will contribute to a better reflection of underlying values in Yara’s share price, an improvement in earnings per share and an improved capital structure. The company has bought back shares in most years.

Last updated November 1, 2006

The Annual General Meeting held May 11, 2006 authorized the year's buy-back program. The AGM authorized Yara to buy back up to 5 percent of Yara’s shares (15,148,972 shares) over a 12-month period.

Yara renewed the agreement with the Norwegian State according to which the State’s shares were to be redeemed on a pro-rata basis to ensure that the State’s ownership remained unchanged in the event repurchased shares are cancelled.

Purchases of own shares were disclosed at Oslo Stock Exchange and details published in the table below.

Date	Price	No. of shares	Accumulated share holdings during this program
30 May 2006	84.10	203,200	203,200
31 May 2006	82.78	187,000	390,200
18 July 2006	81.32	230,000	620,200
19 July 2006	86.13	360,000	980,200
20 July 2006	91.75	375,000	1,355,200
25 July 2006	92.01	315,000	1,670,200
26 July 2006	91.73	220,000	1,890,200
27 July 2006	92.57	243,000	2,133,200
01 Aug 2006	92.60	205,000	2,338,200
02 Aug 2006	93.00	270,000	2,608,200
04 Aug 2006	96.49	315,000	2,923,200
07 Aug 2006	94.96	315,000	3,238,200
08 Aug 2006	92.59	260,000	3,498,200
09 Aug 2006	91.94	275,000	3,773,200
14 Aug 2006	91.32	125,000	3,898,200
15 Aug 2006	91.10	190,000	4,088,200
17 Aug 2006	93.35	175,000	4,263,200
21 Aug 2006	93.98	175,000	4,438,200
22 Aug 2006	93.67	105,000	4,543,200
24 Aug 2006	93.46	122,700	4,665,900
29 Aug 2006	93.10	76,000	4,741,900
30 Aug 2006	93.87	154,000	4,895,900
31 Aug 2006	93.20	175.000	5,070,900
20 Oct 2006	106,91	455.000	5,525,900
24 Oct 2006	109.23	300,000	5,825,900
26 Oct 2006	112.81	315,000	6,140,900
27 Oct 2006	111.80	500,000	6,640,900
31 Oct 2006	114.70	475,000	7,115,900
01 Nov 2006	114.22	158,600	7,274,500

Share buy-back program

Yara worldwide

Yara worldwide

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Results 4Q 2011