Stock Code: 000553 (200553) Stock Abbreviation: ADAMA A(B) Announcement No. 2023-1




                                    ADAMA Ltd.
    Announcement on Closing of the Acquisition of 100%
      Equity of Agrinova New Zealand Limited by a
                Wholly Owned Subsidiary

     The Company and all members of the Company’s Board of Directors confirm that
     all information disclosed herein is true, accurate and complete, with no false or
     misleading statement or material omission.



    I. Overview of the Transaction

    On December 5th, 2022. ADAMA New Zealand Ltd., (hereinafter referred to as

    “Adama New Zealand”), an indirectly wholly-owned subsidiary of ADAMA Ltd.

    (hereinafter referred to as “the Company”) signed the Equity Purchase Agreement (EPA)

    with George William McHardy, Iain Stuart Latter, Toddington Investments Limited

    and Farm Road Trust to acquire 100% equity interest they jointly hold in Agrinova New

    Zealand Limited (hereinafter referred to as "Agrinova" and the “Transaction”). For

    details, please refer to the Announcement on the Acquisition of 100% Equity of

    Agrinova New Zealand Limited by a Wholly Owned Subsidiary publicized by the

    Company on December 6th, 2022 (Announcement No. 2022-31).

    II. Progress of the Transaction

    As of January 5th, 2023, all conditions precedent in the EPA regarding the Agrinova

    Transaction have all been satisfied or waived. The closing of the Transaction has been

    completed accordingly on that date. Adama New Zealand has obtained 100% equity

    interests in Agrinova. The purchase price has been paid in accordance with the EPA.



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III. Impact of the Closing on the Company

Upon and immediately after completion of the Transaction, Adama New Zealand, the

Company’s indirectly wholly-owned subsidiary, shall own and hold 100% equity in

Agrinova, and Agrinova shall become an indirectly wholly controlled subsidiary of the

Company. Based on the Accounting Standards for Business Enterprises, Agrinova will

be included in the Company’s consolidated financial statements.

IV. Filling Documents

Equity Transfer Certificate.




It is hereby announced.




                                                  Board of Directors of ADAMA Ltd.

                                                                   January 6th, 2023




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