[三季报]安道麦B(200553):2026年第三季度报告附件（英文版）
RecordheatanddroughtinEuropeimpactedsalesinadditiontopricepressureacrossallregionsinoff-patentproducts BEIJING, CHINA and TEL AVIV, ISRAEL, October 29, 2026 –ADAMA Ltd. (the “Company”)(SZSE000553),todayreporteditsfinancialresultsforthethirdquarter&firstnine-monthsendedSeptember30,2026. ThirdQuarter2026Highlights: ? Salesdeclined4%(-9%inRMB)to$897million ? Adjustedgrossprofitdeclined11%to$228million(marginof25.4%)inQ32026vs.$257million(marginof27.6%)inQ32025 ? AdjustedEBITDAdeclined22%to$93million(marginof10.4%)vs.$120million(marginof12.9%)inQ32025 ? Reportednetlossreached$115millionvs.$48millioninQ32025;Adjustednetlossreached$74millionvs.$20millioninQ32025 ? Operatingcashinflowincreasedto$94millioninQ32026vs.$89millioninQ32025? Freecashinflowwas$33millioninQ32026vs.$22millioninQ32025 FirstNineMonths2026Highlights: ? Salesdeclined1%(-5%inRMB)reaching$2,997million ? Adjustedgrossprofitdeclined2%to$860million(marginof28.7%)in9M2026vs.$878million(marginof29.0%)in9M2025 ? AdjustedEBITDAdeclined8%to$395million(marginof13.2%)vs$430million(marginof14.2%)in9M2025 ? Reportednetlossreducedto$53millionfrom$59millionin9M2025;Adjustednetprofitdeclinedtoalossof$11millionfromaprofitof$29millionin9M2025 ? Operatingcashinflowwas$194millionin9M2026vs.$331millionin9M2025? Freecashinflowwas$87millionin9M2026vs.$112millionin9M2025 Ga?l Hili, President and CEO of ADAMA, said "ADAMA continues to advance its strategicpriorities, strengthening its portfolio, sharpening its market focus, and building the operationalfoundationrequiredtoimproveperformanceandefficiency.Whilepricingpressurecontinuesacrossall regions in off-patent products, and the third quarter was marked by more challenging thanexpectedmarketconditionswithextremeweatherinEurope,weareencouragedbythepromisingprogress achieved in our strategic markets and product categories. Despite these challengingconditions,Iampleasedtoseethedifferentiatedproducts'volumesgrowinginkeymarketsaswellasthedisciplineoftheteaminkeepingitsoperatingcostsdowntooffsetheadwinds."AsofNovember,IwillbesteppingawayfromtheCEOpositionandcontinuetosupportADAMAfromtheroleofChairmanoftheBoard.AsImakethistransition,IdosowithstrongconfidenceinADAMA'sstrategicdirection,andinDr.ZhigangHao'sleadershiptobuildonthisfoundationandTable1.FinancialPerformanceSummary AsReported Adjustments Adjusted USD(m) Q3 Q3 Q3 Q3 Q3 Q3 %Change %Change 2026 2025 2026 2025 2026 2025 Revenues 897 933 -4% 0 0 897 933 -4% Grossprofit 204 236 -14% 24 22 228 257 -11% %ofsales 22.7% 25.2% 25.4% 27.6% Operatingincome(loss)(EBIT) (10) 30 41 26 31 56 -45% %ofsales (1.2%) 3.2% 3.4% 6.0% Lossbeforetaxes (68) (41) -65% 42 29 (26) (11) -128% %ofsales (7.5%) (4.4%) (2.9%) (1.2%) Netloss (115) (48) 41 28 (74) (20) %ofsales (12.8%) (5.1%) (8.2%) (2.1%) EPS -USD (0.0492) (0.0206) (0.0317) (0.0086) -RMB (0.3337) (0.1470) (0.2150) (0.0611) EBITDA 87 104 -16% 6 16 93 120 -22% %ofsales 9.7% 11.2% 10.4% 12.9% AsReported Adjustments Adjusted USD(m) 9M 9M 9M 9M 9M 9M %Change %Change 2026 2025 2026 2025 2026 2025 Revenues 2,997 3,025 -1% 0 0 2,997 3,025 -1% Grossprofit 777 792 -2% 83 86 860 878 -2% %ofsales 25.9% 26.2% 28.7% 29.0% Operatingincome(EBIT) 163 155 5% 44 81 207 237 -12% %ofsales 5.4% 5.1% 6.9% 7.8% Income(loss)beforetaxes (11) (58) 81% 44 91 33 33 -1% %ofsales (0.4%) (1.9%) 1.1% 1.1% Netprofit(loss) (53) (59) 42 89 (11) 29 %ofsales (1.8%) (2.0%) (0.4%) 1.0% EPS -USD (0.0226) (0.0254) (0.0046) 0.0127 -RMB (0.1480) (0.1815) (0.0269) 0.0910 EBITDA 417 378 10% (22) 53 395 430 -8% %ofsales 13.9% 12.5% 13.2% 14.2% Notes: ? “AsReported”denotestheCompany’sfinancialstatementsaccordingtotheAccountingStandardsforBusinessEnterprisesandthe implementationguidance,interpretationsandotherrelevantprovisionsissuedorrevisedsubsequentlybytheChineseMinistryof Finance (the “MoF) (collectively referred to as “ASBE”). Note that in the reported financial statements,according to the ASBE guidelines[IAS37],certainitems(specificallycertaintransportationcostsandcertainidlenesscharges)areclassifiedunderCOGS. Pleaseseetheappendixtothisreleaseforfurtherinformation. ? Relevantincomestatementitemscontainedinthisreleasearealsopresentedonan“Adjusted”basis,whichexcludeitemsthatareof atransitoryornon-cash/non-operationalnaturethatdonotimpacttheongoingperformanceofthebusiness,andreflectthewaythe Company’smanagementandtheBoardofDirectorsviewtheperformanceoftheCompanyinternally.TheCompanybelievesthat excludingtheeffectsoftheseitemsfromitsoperatingresultsallowsmanagementandinvestorstoeffectivelycomparethetrue underlyingfinancialperformanceofitsbusinessfromperiodtoperiodandagainstitsglobalpeers.Adetailedsummaryofthese adjustmentsappearsintheappendixbelow. ? ThenumberofsharesusedtocalculatebothbasicanddilutedearningspershareinbothQ3&9M2026and2025is2,329.8million shares. ? Inthistableandalltablesinthisreleasenumbersmaynotsumduetorounding.Thegeneralcropprotection(CP)marketenvironment Duringthefirstninemonthsof2026,cropprotectionmarketvolumessawweakerthananticipatedgrowth due to elevated farmer costs and just-in-time purchasing patterns, despite low channelinventoriessupportinghealthyunderlyingcropprotectiondemand.Additionally,cropprotectionpricing,particularlyintheoff-patentmarket,continuedtoremainunderpressure,mainlyduetolowerfarmerprofitability,aswellaspersistentlylowactiveingredientpricesresultingfromstructuralproductionovercapacityinChina. Overallmarketconditionsvariedacrossregionsandcrops,whilefarmermarginsremainedunderpressureinmanymarketsduetohigherborrowingcostsaswellashigherfertilizerandfuelcosts.Geopoliticaltensionsandweather-relateddisruptioncontinuedtocreateuncertaintyalongtheentire1 valuechainfromcropproduction,inputcostsandgrowerprofitability.Strategyexecution TheCompanyisfocusedonturningstabilizationintoprofitablegrowthandsustainedvaluecreation.Its strategy prioritizes selective growth in markets, segments and offerings where ADAMA cancreate clear value for customers and generate attractive returns. Execution is focused on foursources of value: (i) driving portfolio differentiation that meets grower needs; (ii) enhancingcommercialcapabilitiestosupportprofitablegrowth;(iii)shiftingtoamorecompetitive,flexibleandasset-lightsupplyandmanufacturingnetwork;and(iv)improvingorganizationaldesign,processes,andsystemstosupportbetterdecisionsandcreateadditionalvalueacrossthebusiness.Acrosstheseareas,ADAMAremainsfocusedonimprovingmargins,generatingcash,maintainingcostcontrolanddirectinginvestmenttowardthehighest-returnopportunities.Portfoliodevelopmentupdate DuringQ32026ADAMAcontinuedtoregisterandlaunchmultiplenewproductsinmarketsacrosstheglobe,addingontoitsdifferentiatedproductportfolio.TheCompanycontinuedtofocusonadvanced,value?drivenformulationssupportingoptimizationofitsproductportfolio.Inthefirstninemonthsof2026,ADAMAlaunched31newproductsandreceived70newproductregistrations.KeylaunchesofdifferentiatedproductsduringQ32026included: ? REXARO?(India):ASuspensionConcentrate(SC)fungicidecombiningFluopicolideandCymoxanil,providingpreventiveandearlycurativecontrolofOomycetediseasesforlong-lastingprotection,reducedsprayfrequencyandimprovedcropsafetyinF&Vcrops.? ACTAGON?(India):Aready-mixpre-emergencewheatherbicidecombiningPyroxasulfoneand Metribuzin for control of Phalaris minor and other key weeds. This easy mix liquidformulationhelpsgrowersreduceoperationalcomplexitybyeliminatingon-farmtankmixingandsupportingfewerherbicideapplications. ? RAVARI? (Mexico): Combines the complementary strengths of Novaluron and CTPR,offering two distinct modes of action in a water-based Suspension Concentrate (SC)formulation powered by ADAMA’s Ayalon? Formulation Technology. This combinationprovides growers with a valuable resistance-management tool for integrated pest-managementprogramsanddeliverslong-lastingcontroloflepidopteranlarvaeinavocadoandvegetablecrops. ? PORAFAM? Titan kit (Germany): Combines a novel Aminopyralid and Quinmerac SCformulation with Metazachlor, this premium solution delivers improved broad-spectrumcontrolofbroad-leavedweedsandgrassesinOilseedrape. Notabledifferentiatedproductregistrationsincluded: ? SPARTA? (Brazil): 3-way mixture, combining a leading rust-control molecule with high-efficacyactivestobroadenthediseasecontrolspectruminaproprietaryADAMAformulation,providing value for growers and supporting more sustainable, high-performing soybeanproduction. ? PARAMER?SC(Argentina):Auniquehigh-loadliquidPyroxasulfoneherbicidepoweredbyADAMA'sSesgama?formulationtechnology,deliveringlong-lastingresidualweedcontrolinsoybean, corn, and cereals. With 40% more active ingredient than standard liquidformulations,itoffersgreateroperationalefficiencyandapplicationconvenience.? FERRABAIT? (Latvia): An innovative molluscicide based on the novel, low-risk activeingredientFeralla?,providinggrowerswithahighlyeffectivenewsolutionforslugandsnailcontrol.ThisfirstEUregistrationmarksthebeginningofabroaderrollout.GeopoliticalSituation ADAMA is a global company with manufacturing and formulation facilities in several locationsaround the world, principally in Israel, China and Brazil. It is headquartered and has threemanufacturingsitesinIsrael.DespiteregionaltensionsthathaveescalatedonFebruary28,2026,theCompany’sIsraeliproductionsitesand supplychain,including ports, continued tooperatewithoutsignificantdelaysallowingtheCompanytosupportitsmarkets,andongoingactivities.DuringMarchandearlyApril2026,theCompany'sNeotHovavsitesufferedlimitedandlocalizeddamagecausedbyfallingdebrisfollowingmissileinterceptionsinthesouthernregionofIsrael.Nobodilyinjurieswerereported,andanimmediatesafety-drivenclosureofthefacilitieswascarriedout,followedbyaphasedshutdown,alsoforsafetyreasons.TheCompanyinitiatedcomprehensivedamageassessments.Thedirectdamagetoitscoreproductionfacilitieswasnotmeaningfulandwasprimarilylimitedtoafinishedgoodswarehouse,certainancillaryequipmentandsystemsandanopenstoragearea.Thereafter,theCompanyundertookcertainrestorationactivities,andasofthedateofthisreleaseNeotHovavsitehasreturnedtonormaloperationalstatus.TheCompanyexpects the overall impact of these occurrences to be non-material, also due to appropriatecompensationfromgovernmentalauthorities. Additionally, in respect to changes in global tariff policies, despite the uncertainty regardingchanges totrade andtariff policiesaroundthe world, theCompanycurrently expectsthat theimpactonitsoperationsandbusinessresultswillcontinuetobeimmaterial.FinancialHighlights Revenuesinthethirdquarterdecreasedbyapproximately4%(-9%inRMB;-6%inCER)to$897millioncomparedtolastyear,reflectingadeclineof4%involumesand2%inprices,partiallycompensatedbypositiveimpactofforeignexchangerates. Thelowervolumesresultedfromlowermarketdemandincertainregionsduetohigherfarmercostsandweatherconditions,partiallycompensatedbynewproductintroductions.Lowerpricesreflectedtheoveralllowermarketpricingandweakerfarmerpurchasingpower.Theseresultsbroughttherevenuesinthefirstninemonthsof2026to$2,997million,1%lowerthanlastyear(-5%inRMBterms;-4%inCERterms),reflectingadecreaseof3%inpricesand1%involumes,partiallymoderatedpositiveimpactofforeignexchangerates.ExcludingtheCompany'sdecisioninQ32025toreducethemanufactureandsaleofcertainbasicchemicals,saleswouldhaveincreasedinthefirstninemonthsperiodby1%incomparisontothecorrespondingperiodin2025.Thirdquartersalesareonacomparablebasis.Table2.RegionalSalesPerformance Q32026 Q32025 Change Change 9M2026 9M2025 Change Change $m $m USD CER $m $m USD CER Europe,Africa&MiddleEast 203 233 (13%) (16%) 933 903 3% (3%)NorthAmerica 174 164 6% 6% 692 659 5% 5% LatinAmerica 286 312 (8%) (12%) 639 675 (5%) (10%) AsiaPacific 235 225 4% 4% 732 789 (7%) (8%) 2 OfwhichChina 99 91 9% 2% 337 400 (16%) (19%) Total 897 933 (4%) (6%) 2,997 3,025 (1%) (4%) Notes: CER:ConstantExchangeRates Numbersmaynotsumduetorounding InEAME,salesdeclinedinthethirdquarterreflectingsignificantlyweakermarketconsumptionandlower crop-protection applications across several European markets due to weather impactscreatingchannelinventorybuild-upandduetoelevatedfarmerinputcosts. Market-sharegainspartlymitigatedthedecline,whilecompetitiveandpricingpressureremainedhigh,concentratedinspecificoff-patentactiveingredients. NorthAmericasalesincreasedsupportedbygrowthacrossProfessionalSolutions,ConsumerandCanada. US Ag was impacted by lower market prices mainly in commodity categories, whilecontinuingtopresentgrowthinkeyproductsandcustomersegments.PricingpressureandelevatedinventoriesaffectedseveralUSagriculturalproducts. LatinAmerica:InBrazil,salesdeclineddespiteintensifiedcommercialexecutionaheadofthesoybeanseasonparticularlyacrossfungicidesandinsecticides.Thiswasoffsetbycontinuedpricingpressure,farmerliquidityconstraintsandintensecompetition,particularlyincommodityproducts.Intherest ofLATAM, salesincreasedsupportedbyhighervolumes, particularlyinArgentina,following disciplined implementation of its strategic growth priorities across the region, despitecontinuedcompetitiveandpricingpressureandEl-Ni?oimpactincertaincountries.Asia-Pacific(APAC)excludingChina:SalesincreasedsupportedbygrowthinPacificandIndiamore than offsetting a decline in other South-East Asia sales. Pacific benefited from fungicidedemandinSouthernandWesternAustraliasupportedbynewproductintroductions.South-EastAsiasaleswereimpactedbyEl-Ni?oimpactondemand. InChina,salesreflectedtheCompany’sdecisiontoreducemanufacturingandsaleofcertainbasicchemicalssinceQ32025andlow-marginproducts,leadingtoadeclineinsalesinthenine-monthperiodwhileinthethirdquartersaleswereonacomparablebasisandincreased,reflectinghighersalesofbrandformulationsdrivenbynewproductlaunchesandhighernon-agsalesfollowingbetterutilizationrates. Reportedgrossprofitinthethirdquarterdeclined14%to$204million(grossmarginof22.7%)comparedto$236million(grossmarginof25.2%)lastyear.Inthefirstninemonths,reportedgrossprofitdeclined2%to$777million(grossmarginof25.9%)comparedto$792million(grossmarginof26.2%)lastyear. Adjustments to reported results: The adjusted gross profit includes mainly Thelowerfinancialexpensesinthethirdquarterof2026reflectedthepositiveimpactoftheCPI,improvedoverallloanterms,thebenefitofthecontinuedpositivecashflowandlowerhedgingcosts.Inthefirstninemonthsof2026thelowerfinancialexpensesalsoreflectedthebetterdebtstructure,followingthebuybackofbondsinQ22025. Adjustedtaxesonincomeamountedtoanexpenseof$48millioninthethirdquartercomparedto$8millionlastyear,andinthefirstninemonthsamountedtoanexpenseof$44millioncomparedto$4millionlastyear.TheCompanyrecordedhighertaxexpenseinthefirstninemonthsof2026comparingto2025mainlyduetolowertaxincomecomparedtolastyear,recognizedaccordingtotheaccountingmethodofcalculationoftaxassetsrelatedtounrealizedprofitsandduetolowertaxincomecomparedtolastyearfromforeignexchangeimpactofthestrongerBRL.Inaddition,duringthethirdquarterof2026thecompanyadjustedthetaxassetinBrazilaccordingtotheprojectedstatutoryprofitbeforetax. Reportednetlossreached$115millioninthethirdquartercomparedto$48millionlastyear.Reportednetlossinthefirstninemonthsreached$53millioncomparedto$59millionlastyear.After reflecting the impact of the above-mentioned extraordinary and non-operational charges,adjusted net loss in the third quarter reached $74 million compared to $20 million last year.Adjustednetlossinthefirstninemonthsreached$11millioncomparedtoanincomeof$29millionlastyear. TradeworkingcapitalasofSeptember30,2026,was$2,183millioncomparedto$2,093millionasof September 30, 2025. The increase in working capital was due to higher receivables whichreflectedlowersaleswithshortcollectionterms,andadecreaseinaccountpayablesandaslightdecreaseininventorylevels,bothduetolowerprocurementcomparedtolastyear.CashFlow:Operatingcashinflowof$94millionand$194millionwasgeneratedinthethirdquarterandfirstninemonthsperiodrespectively,comparedtoaninflowof$89millionand$331millionintherespectiveperiodsin2025.Inthefirstninemonths,loweroperatingcashinflowwasmainlyduetolowercollectionsofbasicchemicalsandtimingdifferencesmainlyinQ12025,partiallyoffsetbylowerprocurementincomparisontolastyear,inwhichtheCompanyincreasedprocurementandinventoryinordertoprovidebusinesscontinuityduringthemergingofentitiesinIsrael.Netcashusedininvestingactivitieswas$35millioninthethirdquarterand$16millioninthefirstninemonths, compared to$43million and $131 millionintherespective periodsin 2025. TheCompany continued the execution of its strategy to prioritize the most critical investments ininfrastructure,portfolioandinnovation.Additionally,partofoptimizationofitsexistingassetbase,theCompanydisposedfixedassetsprimarilyinthefirstninemonths,includingalogisticscenterinIsraelandolddismantledfacilitiesinChina.ThehighercashusedininvestingactivitiesinthefirstninemonthslastyearalsoreflectedthepaymentforearnoutrelatedtoAgrinova, acontrolledsubsidiaryoftheCompany. Freecashinflowof$33millionwasgeneratedinthethirdquarterand$87millioninthefirstninemonthscomparedto$22millionand$112millionintherespectiveperiodsin2025,reflectingtheTable3.Revenuesbyoperatingsegment Salesbysegment
? ThesalessplitbyproductcategoryisprovidedforconveniencepurposesonlyandisnotrepresentativeofthewaytheCompanyis managedorinwhichitmakesitsoperationaldecisions. Numbersmaynotsumduetorounding. ? FurtherInformation AllfilingsoftheCompany,togetherwithapresentationofthekeyfinancialhighlightsoftheperiod,AboutADAMA ADAMALtd.isagloballeaderincropprotection,providingpracticalsolutionstofarmersacrosstheworldtocombatweeds,insectsanddisease.OurcultureempowersADAMA'speopletoactivelylistentofarmersandideasfromthefield.ADAMA'sdiverseportfolioofexistingactiveingredients,coupledwithitsleadingformulationcapabilitiesandproprietaryformulationtechnologyplatforms,uniquely position the company to develop high-quality, innovative and sustainable products, toaddress the many challenges farmers and customers face today. ADAMA serves customers indozensofcountriesglobally,withdirectpresenceinalltop20markets.Formoreinformation,visitusatwww.ADAMA.com. InvestorRelations&FinanceGovernanceManager ChinaInvestorRelationsEmail:ir@adama.com Email:irchina@adama.com AbridgedAdjustedConsolidatedFinancialStatements ThefollowingabridgedconsolidatedfinancialstatementsandnoteshavebeenpreparedasdescribedinNote1inthisappendix.WhilepreparedbasedontheprinciplesofChineseAccountingStandards(ASBE),theydonotcontainallofthe informationwhicheitherASBEorIFRSwouldrequireforacompletesetoffinancialstatements,andshouldbereadinconjunctionwiththeconsolidatedfinancialstatementsofbothADAMALtd.andAdamaAgriculturalSolutionsLtd.asfiled withtheShenzhenandTelAvivStockExchanges,respectively. Relevantincomestatementitemscontainedinthisreleasearealsopresentedonan“Adjusted”basis,whichexcludeitems thatareofaone-timeornon-cash/non-operationalnaturethatdonotimpacttheongoingperformanceofthebusiness,and reflectthewaytheCompany’smanagementandtheBoardofDirectorsviewtheperformanceoftheCompanyinternally.The Company believes that excluding the effects of these items from its operating results allows management and investorstoeffectivelycomparethetrueunderlyingfinancialperformanceofitsbusinessfromperiodtoperiodandagainst itsglobalpeers. AbridgedConsolidatedIncomeStatementfortheThirdQuarter Note1:Basisofpreparation Basisofpresentation andaccountingpolicies:Theabridged consolidatedfinancialstatementsforthequartersendedSeptember30,2026and2025incorporatethefinancialstatementsofADAMALtd.andofallof its subsidiaries (the “Company”), including Adama Agricultural Solutions Ltd. (“Solutions”) and its subsidiaries. TheCompanyhasadoptedtheAccountingStandardsforBusinessEnterprises(ASBE)issuedbytheMinistryofFinance(the"MoF")andtheimplementationguidance,interpretationsandotherrelevantprovisionsissuedorrevisedsubsequentlybytheMoF(collectivelyreferredtoas“ASBE”).The abridged consolidated financial statements contained in this release are presented in both Chinese Renminbi(RMB),astheCompany’ssharesaretradedontheShenzhenStockExchange,aswellasinUnitedStates dollars ($) as this is the major currency in which the Company’s business is conducted. For the purposesofthisrelease,acustomaryconveniencetranslationhasbeenusedforthetranslationfromRMBtoUS dollars, with Income Statement and Cash Flow items being translated using the quarterly averageexchangerate,andBalanceSheetitemsbeingtranslatedusingtheexchangerateattheendoftheperiod.Thepreparationoffinancialstatementsrequiresmanagementtomakeestimatesandassumptionsthataffectthereportedamountsofassetsandliabilitiesanddisclosureofcontingentassetsandliabilitiesatthedateofthefinancialstatements,andthereportedamountsofrevenuesandexpensesduringthereportingperiod.Actualresultscoulddifferfromthoseestimated. Note2:AbridgedFinancialStatements Foreaseofuse,thefinancialstatementsshowninthisreleasehavebeenabridgedasfollows:AbridgedConsolidatedIncomeStatement: ? “Grossprofit”inthisreleaseisrevenuelesscostsofgoodssold,taxesandsurcharges,inventoryimpairmentandotheridlenesscharges(inadditiontothosealreadyincludedincostsofgoodssold);partoftheidlenesschargesisremovedintheAdjustedfinancialstatements? “Other operating expenses” includes impairment losses (not including inventory impairment); gain (loss)fromsaleofassetsandnon-operatingincomeandexpenses ? “Operatingexpenses”inthisreleasedifferfromthoseintheformallyreportedfinancialstatementsinthatcertaintransportationcostshavebeenreclassifiedfromCOGStoOperatingExpenses.? “Financialexpenses”includesnetfinancingexpensesandgains/lossesfromchangesinfairvalue.AbridgedConsolidatedBalanceSheet: ? “Othercurrentassets,receivablesandprepaidexpenses”includesfinancialassetsheldfortrading;financialassetsinrespectofderivatives;prepayments;otherreceivables;andothercurrentassets? “Fixedassets,net”includesfixedassetsandconstructioninprogress? “Intangibleassets,net”includesintangibleassetsandgoodwill? “Othernon-currentassets”includesotherequityinvestments;long-termequityinvestments;long-termreceivables;investmentproperty;andothernon-currentassets ? “Loansandcreditfrombanksandotherlenders”includesshort-termloansandnon-currentliabilitiesduewithinoneyear ? “Othercurrentliabilities”includesfinancialliabilitiesinrespectofderivatives;payablesforemployeebenefits,taxes,interest,dividendsandothers;advancesfromcustomersandothercurrentliabilities? “Otherlong-termliabilities”includeslong-termpayables,provisions,deferredincomeandothernon-currentliabilities IncomeStatementAdjustments Adjustments to Taxes: 1. Amortization of acquisition-related PPA and other acquisition related costs: 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. Fixed assets and inventory impairments: As part of the Company’s strategic direction to enhance operational efficiency, the Company decided to focus on high-performing facilities. Consequently, after evaluating their net book value and recoverable amount, the Company recorded impairments for certain facilities with lower operational efficiency. Related to the closing of these facilities, the Company recorded inventory impairments as some of the defective inventories could no longer be reprocessed. 6. 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 7. Restructuring and advisory 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 and advisory costs. 8. Other: included accelerated depreciation associated with operational efficiency improvement project, soil clean-up and remediation and litigation settlements. 9. Non-cash adjustment related to put options revaluation: expenses/income due to revaluation of put options attributed to minority stake in subsidiaries. 10. Repurchase of debentures by a controlled subsidiary: As part of strengthening its debt structure, a subsidiary of the Company repurchased a significant part of its bond principal in Q2 2025 for the purpose of improving its long-term financing structure and efficiency. A loss was recorded due to the premium between the buyback price and its issuance price. 11. Arbitration decision related to a controlled subsidiary: An arbitration case related to a controlled subsidiary incurred a one-time income in 2025. ExchangeRateDatafortheCompany'sPrincipalFunctionalCurrenciesSeptember30 Q3Average 9MAverage 2026 2025 Change 2026 2025 Change 2026 2025 Change EUR/USD 1.135 1.174 -3.30% 1.151 1.168 -1.47% 1.161 1.116 4.09% USD/BRL 5.181 5.319 -2.59% 5.136 5.447 -5.71% 5.151 5.653 -8.88% USD/PLN 3.845 3.632 5.88% 3.758 3.647 3.05% 3.678 3.800 -3.22% USD/ZAR 16.447 17.301 -4.94% 16.290 17.627 -7.59% 16.257 18.135 -10.35%AUD/USD 0.697 0.661 5.44% 0.706 0.654 7.96% 0.703 0.641 9.79% GBP/USD 1.326 1.343 -1.27% 1.344 1.348 -0.30% 1.344 1.313 2.38% USD/ILS 3.063 3.306 -7.35% 3.019 3.363 -10.22% 3.035 3.520 -13.78% USDL3M 4.08% 4.00% +0.08pp 3.78% 4.19% -0.41pp 3.71% 4.26% -0.55pp September30 Q3Average 9MAverage 2026 2025 Change 2026 2025 Change 2026 2025 Change USD/RMB 6.735 7.106 -5.21% 6.782 7.129 -4.86% 6.858 7.165 -4.29% EUR/RMB 7.641 8.341 -8.38% 7.806 8.326 -6.25% 7.963 7.995 -0.41%RMB/BRL 0.769 0.749 2.77% 0.757 0.764 -0.89% 0.751 0.789 -4.79%RMB/PLN 0.571 0.511 11.70% 0.554 0.512 8.31% 0.536 0.530 1.12%RMB/ZAR 2.442 2.435 0.29% 2.402 2.473 -2.86% 2.371 2.531 -6.33%AUD/RMB 4.695 4.696 -0.03% 4.790 4.663 2.72% 4.822 4.590 5.07%GBP/RMB 8.928 9.545 -6.46% 9.118 9.611 -5.12% 9.220 9.407 -1.98%RMB/ILS 0.455 0.465 -2.26% 0.445 0.472 -5.64% 0.443 0.491 -9.92% RMBShibor3M 1.430% 1.58% -0.15pp 1.430% 1.56% -0.13pp 1.474% 1.68% -0.206pp 中财网
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