安道麦B：2026年三季度报告(英文版)

ADAMA LTD.

THIRD QUARTER REPORT 2026

Please see important additional information and further details included in the Annex.

October 2026

Stock Code: 000553(200553) Stock Abbreviation: ADAMA A(B) Announcement No.40The Company and all members of its board of directors hereby confirm that allinformation disclosed herein is true, accurate and complete with no false or misleadingstatement or material omission.

Important NoticeThe Company’s Board of Directors, directors and senior managers confirm that thecontent of the Report is true, accurate and complete and contains no false statements,misleading presentations or material omissions, and assume joint and several legalliability arising therefrom.Ga?l Hili, the person leading the Company (President and Chief Executive Officer aswell as its legal representative, and Samuel Asher Leibowitz, the person leading theaccounting function (Chief Financial Officer), hereby assert and confirm thetruthfulness, accuracy and completeness of the Financial Report.The Third Quarter Report has not been audited.Items of qualified opinion by the auditor

□Applicable √Not applicable

This Report has been prepared in both Chinese and English. Should there be anydiscrepancy between the two versions, the Chinese version shall prevail.

I. Main accounting and financial results

1. Whether the Company performs any retroactive adjustments to, or restatements of, its accounting dataof last year due to change in accounting policies or correction of accounting errors

□ Yes √ No

2. Non-Recurring profit/loss

√ Applicable □ Not applicable

Unit: RMB’000

Explanation of other profit or loss that meets the definition of non-recurring profit or loss

√ Applicable □ Not applicable

Mainly compensation received related to limited and localized damage caused by falling debris followingmissile interceptions at one of the Company’s Israeli manufacturing sites and compensation related toproduct liabilities as explained above in the note.

Explanation of non-recurring items of profit or loss listed in "Explanatory Announcement No. 1 onInformation Disclosure for Companies Offering their Securities to the Public-Non-Recurring Profit andLoss" reclassified as recurring items of profit or loss.

□ Applicable √ Not applicable

No such cases in the Reporting Period.

3. Changes in main accounting statement items and financial indicators in the Reporting Period, as wellas reasons for the changes

√ Applicable □ Not applicable

General Crop Protection (CP) Market Environment

During the first nine months of 2026, crop protection market volumes saw weaker than anticipated growthdue to elevated farmer costs and just-in-time purchasing patterns, despite low channel inventoriessupporting healthy underlying crop protection demand. Additionally, crop protection pricing, particularly inthe off-patent market, continued to remain under pressure, mainly due to lower farmer profitability, as wellas persistently low active ingredient prices resulting from structural production overcapacity in China.Overall market conditions varied across regions and crops, while farmer margins remained under pressurein many markets due to higher borrowing costs as well as higher fertilizer and fuel costs.Geopolitical tensions and weather-related disruption continued to create uncertainty along the entire valuechain from crop production, input costs and grower profitability.Geopolitical SituationADAMA is a global company with manufacturing and formulation facilities in several locations aroundthe world, principally in Israel, China and Brazil. It is headquartered and has three manufacturing sitesin Israel. Despite regional tensions that have escalated on February 28, 2026, the Company’s Israeliproduction sites and supply chain, including ports, continued to operate without significant delaysallowing 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 damagecaused by falling debris following missile interceptions in the southern region of Israel. No bodily injurieswere reported, and an immediate safety-driven closure of the facilities was carried out, followed by aphased shutdown, also for safety reasons. The Company initiated comprehensive damage assessments.

Sources: AgbioInvestor The CP Industry report - Market review: 2025. June 2026, internal sources.

The direct damage to its core production facilities was not meaningful and was primarily limited to afinished 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 NeotHovav site has returned to normal operational status. The Company expects the overall impact of theseoccurrences to be non-material, also due to appropriate compensation from governmental authorities.Additionally, in respect to changes in global tariff policies, despite the uncertainty regarding changes totrade and tariff policies around the world, the Company currently expects that the impact on its operationsand business results will continue to be immaterial.

Operating income(Revenues)

Cost of goods sold

Sales & Marketingexpenses

General & Administrativeexpenses

R&D expenses

Financial Expenses

Gain (Loss) fromChanges in Fair Value

Total Net FinancialExpenses

Total loss

Income tax expenses

Net loss attributable toshareholders of theCompany

EBITDA

Operating income(Revenues)

Cost of goods sold

Sales & Marketingexpenses

General & Administrativeexpenses

R&D expenses

Financial Expenses

Gain (Loss) fromChanges in Fair Value

Total Net FinancialExpenses

Total loss

Income tax expenses

Net loss attributable toshareholders of theCompany

EBITDA

Note: Since the functional currency of main overseas subsidiaries is the USD, and the Company’s management review ofthe Company’s performance is based on the USD results, following explanations and analysis are based on USD-denominated numbers as listed above.

Analysis of Financial Highlights

(1) Revenues

Revenues in the third quarter decreased by approximately 4% (-9% in RMB; -6% in CER) to $897million compared to last year, reflecting a decline of 4% in volumes and 2% in prices, partiallycompensated by positive impact of foreign exchange rates.The lower volumes resulted from lower market demand in certain regions due to higher farmercosts and weather conditions, partially compensated by new product introductions. Lower pricesreflected the overall lower market pricing and weaker farmer purchasing power.These results brought the revenues in the first nine months of 2026 to $2,997 million, 1% lowerthan last year (-5% in RMB terms; -4% in CER terms), reflecting a decrease of 3% in prices and 1%in volumes, partially moderated positive impact of foreign exchange rates.Excluding the Company's decision in Q3 2025 to reduce the manufacture and sale of certain basicchemicals, sales would have increased in the first nine months period by 1% in comparison to thecorresponding period in 2025. Third quarter sales are on a comparable basis.

Regional Sales Performance

Europe, Africa & Middle East (EAME)

North America

Note: the numbers in this table may not sum due to rounding.

Europe, Africa & Middle East (EAME): Sales declined in the third quarter, reflecting significantly weakermarket consumption and lower crop-protection applications across several European markets due toweather impacts creating channel inventory build-up and due to elevated farmer input costs. Market-share gains partly mitigated the decline, while competitive and pricing pressure remained high,concentrated in specific off-patent active ingredients.North America: Sales increased supported by growth across Professional Solutions, Consumer andCanada. US Ag was impacted by lower market prices mainly in commodity categories, while continuingto present growth in key products and customer segments. Pricing pressure and elevated inventoriesaffected several US agricultural products.Latin America: In Brazil, sales declined despite intensified commercial execution ahead of the soybeanseason particularly across fungicides and insecticides. This was offset by continued pricing pressure,farmer liquidity constraints and intense competition, particularly in commodity products. In the rest ofLATAM, sales increased supported by higher volumes, particularly in Argentina, following disciplinedimplementation of its strategic growth priorities across the region, despite continued competitive andpricing pressure and El-Ni?o impact in certain countries.Asia-Pacific: Sales increased supported by growth in Pacific and India more than offsetting a decline inother South-East Asia sales. Pacific benefited from fungicide demand in Southern and Western Australiasupported by new product introductions. South-East Asia sales were impacted by El-Ni?o impact ondemand.In China, sales reflected the Company’s decision to reduce manufacturing and sale of certain basicchemicals since Q3 2025 and low-margin products, leading to a decline in sales in the nine-month periodwhile in the third quarter sales were on a comparable basis and increased, reflecting higher sales of brandformulations driven by new product launches and higher non-ag sales following better utilization rates.

(2) Cost of Goods and Gross Profit

The decline in gross profit in the third quarter and first nine months was mainly due to the declinein sales and negative cost impact. The impacts were slightly moderated by the improvement in theCompany’s sales mix of higher margin products, positive impact of exchange rates.

(3) Operating Expenses:

Operating expenses include Sales and Marketing, General and Administration and R&D.Operating expenses in the third quarter and first nine months decreased despite the negativeimpact of exchange rates following tight expense discipline and due to less restructuring andadvisory costs. In the nine months, the positive impacts were partially offset by an increase in

Latin America

Asia Pacific

Of which China

Total

employee compensation and an increase in H1 in expenses supporting business growth.In the third quarter and first nine months of both 2025 and 2026, the Company continued recordingfollowing charges in its sales and marketing expenses at a similar amount, which incurred due tomergers and acquisitions in recent years, mainly: (i) non-cash amortization charges in respect oftransfer assets received from Syngenta related to the 2017 ChemChina-Syngenta acquisition; and(ii) non-cash amortization net charges related to intangible assets created as part of the PurchasePrice Allocation (PPA) on acquisitions.Non-operational charges affected the Company’s reported operating expenses amounting to RMB101 million ($15 million) in Q3 2026, in comparison to RMB 176 million ($25 million) in Q3 2025,and RMB 267 million ($39 million) in 9M 2026 in comparison to RMB 519 million ($73 million) in9M 2025. For details of the non-operational charges, please refer to the Annex to the Report.

(4) Financial Expenses

“Financial Expenses” alone mainly reflect interest payments on corporate bonds and bank loansas well as foreign exchange gains/losses on the bonds and other monetary assets and liabilitiesbefore the Company carries out any hedging. Financial Expenses (before hedging) were RMB1,186 million ($173 million) for the nine months of 2026, in comparison to RMB 1,544 million ($215million) for the nine months of 2025.Given the global nature of its operational activities and the composition of its assets and liabilities,the Company, in the ordinary course of its business, uses foreign currency derivatives (forwardsand options) to hedge the cash flow risks associated with existing monetary assets and liabilitiesthat may be affected by exchange rate fluctuations. “Gains/Losses from Changes in Fair Value”which recorded the hedging costs and impacts among others amounted to a loss of RMB 15 million($2 million) for the nine months of 2026, in comparison to a net gain of RMB 5 million ($0.6 million)in the first nine months of 2025.The aggregate of Financial Expenses and Gains/Losses from Changes in Fair Value (hereinafteras “Total Net Financial Expenses”), which more comprehensively reflects the financial expenses ofthe Company in supporting its main business and protecting its monetary assets/liabilities, amountsto RMB 1,202 million ($175 million) in the nine months of 2026, in comparison to RMB 1,540 million($215 million) in the nine months of 2025.The lower Total Net Financial Expenses in the first nine months reflected the better debt structurefollowing the buyback of bonds in Q2 2025, positive impact of the Israeli CPI, the benefit of thecontinued positive cash flow and lower hedging costs. The Total Net Financial Expenses werehigher in 2025 also because an expense was recorded in the bond buyback.

(5) Income Tax Expenses

The Company recorded higher tax expense in the first nine months of 2026 comparing to 2025mainly due to lower tax income compared to last year, recognized according to the accountingmethod of calculation of tax assets related to unrealized profits and due to lower tax incomecompared to last year from foreign exchange impact of the stronger BRL. In addition, during thethird quarter of 2026 the Company adjusted the tax asset in Brazil according to the projectedstatutory profit before tax.

Changes in main assets and liabilities

Unit: RMB’000

II. Use of Raised Funds

□ Applicable √ Not applicable

No such cases in the Reporting Period.

III. Information regarding the Shareholders

1. Total number of ordinary shareholders and preference shareholders who had resumed their

voting rights, and shareholdings of top 10 shareholders at the period-end

Unit: share

Name ofShareholder

Zhu Shenglan

Name of Shareholders

Shareholders holding more than 5% of shares, top ten shareholders and top ten shareholders withunlimited shares in circulation participating in the shares lending through refinancing arrangement

□Applicable √ Not applicable

Change of top ten shareholders and top ten shareholders with unlimited shares in circulation from theprevious period due to the shares lending/returning through refinancing arrangement

□ Applicable √ Not applicable

2. Total number of preference shareholders and shareholdings of the top 10 of such at the period-

end

□ Applicable √ Not applicable

IV. Other Significant Events

√Applicable □Not applicable

The Company disclosed the Announcement on the Indirect Controlling Shareholder Sinochem HoldingsCorporation Ltd.’s Performance of Its Undertaking to Avoid Horizontal Competition (Announcement No.2026-38) on CNINFO on September 19, 2026. Sinochem has performed, within the committed period, itsLetter of Undertaking to Avoid Horizontal Competition with ADAMA Ltd. and has effectively addressedthe impact of horizontal competition on the Company through various measures. The Companyperiodically reviews overlapping products with Syngenta AG and Yangnong Chemical. In 2025 and thefirst half of 2026, the sales of the Company’s overlapping products between the Company and SyngentaAG and Yangnong Chemical accounted for less than 15% of the Company’s total principal businessrevenue and did not constitute a material adverse effect on the Company.

V. Financial Statementsi. Financial Statements

1. Consolidated balance sheet

Prepared by ADAMA Ltd.

30 September 2026

Unit: RMB’000

2. Consolidated income statement for the period from the year-beginning to the end of the Reporting Period

Unit: RMB’000

3. Consolidated cash flow statement for the period from the year-beginning to the end of the Reporting

Period

Unit: RMB’000

ii. Impact of initial application of new accounting standards on the opening balances ofcurrent year

□ Applicable √ Not applicable

iii. Auditor’s report

Is this Report audited?

□ Yes √ NoThis Report is unaudited.

Board of DirectorsADAMA Ltd.October 30, 2026