Norwegian authorities charge two Yara execs

Oslo — Yara International ASA said May 18 that the Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime (Økokrim) has
charged two members of the corporate executive management team, Head of Upstream Tor Holba and CFO and Head of Strategy Hallgeir Storvik. The charges are related
to issues within the scope of the on-going investigation of Yara, which commenced in 2011. “I am surprised by this development. However, Yara has had a close cooperation with Økokrim throughout the process, and will continue this also in this new phase. It is important for us to see this process through to its conclusion, and we will now await Økokrim’s further investigation,” said Jørgen Ole Haslestad, Yara president and CEO. Økokrim has been investigating two matters – one involving negotiations preceding Yara’s investment in Libya, and another relating to a proposed joint venture in India that was never realized.