Stock Code: 000553 (200553)    Stock abbreviation: ADAMA A (B)    Announcement No. 2019-8

                                     ADAMA Ltd.

         Supplementary Announcement on the 2018 Performance Estimation


 The Company and all the directors confirm that the information disclosed is true,
 accurate, complete and with no false recording, misleading statement or material
 omission.


In the fourth quarter, as described in the Announcement of Full Year 2018 Performance
Estimation of 24 January 2019 (Announcement Number 2019-7), on an adjusted basis the
Company is expecting to report a significant increase in its Net Income, due to the strong
growth in revenues and robust operating performance of the business.

On a reported basis, including the impact of certain one time or non-cash/non-operational
items, the Company’s Net Income in the fourth quarter is expected to be somewhat lower
than that of Q4 2017.

The Adjusted Net Income presents to investors what the Company believes is a more
useful view of the true economic performance of the business on an ongoing basis. It
excludes items that are of a one-time or non-cash/non-operational nature that do not
impact the ongoing performance of the business. 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 peers. Therefore, in the above stated announcement the Company
not only provided the reported net profit, but also provided the Adjusted Net Income for
the reference of the investors.


Specific Adjustments performed to 2018 Net Income:
 Legacy amortization of the 2011 PPA for the acquisition of Adama Agricultural
   Solutions Ltd. by ChemChina:
   o The acquisition by ADAMA Ltd. of Adama Agricultural Solutions Ltd.
         (“Solutions”) in 2017 is treated from an accounting perspective as a “Business
         Combination Under Common Control”.
   o The effect of such accounting treatment is that ADAMA Ltd. has inherited the
         historical “legacy” amortization charge that ChemChina previously was incurring
         in respect of its acquisition of Solutions in 2011.
 Amortization of assets transferred from Syngenta, the value of which was written-up,
   related to the 2017 ChemChina acquisition of Syngenta:
   o In the first quarter of 2018, the Company earned a one-time profit on the
         divestiture of several crop protection products in Europe in connection with the
         prior approval by the EU Commission of the acquisition of Syngenta by
       ChemChina. The proceeds of this divestiture, 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.
   o Since the products acquired from Syngenta are of the same nature and with the
       same net economic value as those divested, and since the Company excludes the
       one-time gain that it made on the divested products, the additional amortization
       charge incurred due to the write-up of the acquired assets should be excluded in
       order to present a true view of Divestment and Transfer transactions, which had
       no net impact on the underlying economic performance of the Company.
   Sanonda facility relocation and related non-cash items:
   o The Company will be required to relocate its production assets located at the
       Sanonda facility in Jingzhou City in the coming years. Since some of the older
       production assets may not be able to be relocated, some of these assets which are
       no longer operational are being written off (or impaired), while for others their
       economic life has been shortened and therefore will be depreciated over a shorter
       period.
   o Since these are older assets that were acquired many years ago and will be
       replaced by newer production facilities at the new site, and since the ongoing
       operations of the business will not be impacted, therefore the Company adjusts
       for the impact of the impairment and accelerated depreciation of these assets.
   Recording of historical tax expenses, the majority thereof already provisioned,
   resulting from the finalization of tax assessments relating to periods concluding in
   2016:
   o Since these tax assessments were in respect of historical periods and not the
       current year and not impacting the ongoing and future performance of the
       business, the Company adjusts its 2018 net income for this effect.


                                                                   By order of the Board
                                                                          ADAMA Ltd.
                                                                        January 25, 2019