安道麦B：2023年年度报告（英文版）

ADAMA Ltd. Annual Report 2023 1 ADAMA LTD. ANNUAL REPORT 2023 ADAMA Ltd. is a global leader in crop protection, providing solutions to farmers across the world to combat weeds, insects and disease. ADAMA has one of the widest and most diverse portfolios of active ingredients in the world, state-of-the art R&D, manufacturing and formulation facilities, together with a culture that empowers our people in markets around the world to listen to farmers and ideate from the field. This uniquely positions ADAMA to offer a vast array of distinctive mixtures, formulations and high-quality differentiated products, delivering solutions that meet local farmer and customer needs in over 100 countries globally. For further important additional information and details, please refer to the Annex. March 2024 ADAMA Ltd. Annual Report 2023 2 Section I - Important Notice, Table of Contents and Definitions ▪ The Company’s Board of Directors, Board of Supervisors, directors, supervisors and senior managers confirm that the content of the Report is true, accurate and complete and contains no false statements, misleading presentations or material omissions, and assume joint and several legal liability arising therefrom. ▪ Steven Hawkins, the person leading the Company (President and Chief Executive Officer) as well as its legal representative, and Efrat Nagar - the person leading the accounting function (Chief Financial Officer), hereby assert and confirm the truthfulness, accuracy and completeness of the Financial Report. ▪ All of the Company’s directors attended the board meeting for the review of this Report. ▪ The forward-looking information described in the Report, such as future plans, development strategy etc., does not constitute, in any manner whatsoever, a substantial commitment of the Company to investors. Investors and other relevant people are cautioned to be sufficiently mindful of investment risks as well as the difference between plans, forecasts and commitments. ▪ The Company has described its future development strategies, work plan for 2024 and possible risks in “XI. Outlook of the Company’s future development” in Section III. The major risks of the Company include, among others, exchange rate fluctuations; exposure to interest rate, Israel CPI and NIS exchange rate fluctuations; fluctuations in raw material inputs and prices, and in sales. Investors and other relevant people are cautioned to be sufficiently mindful of investment risks. For the complete “Risk factors and countermeasures” of the Company, please see the relevant section below. ▪ Pre-plan of dividend distribution or reserve transfer to equity capital approved for the reporting period by the meeting of the Board of Directors on March 25, 2024 □Applicable √Not applicable The Company does not plan to distribute cash or share dividends, nor plan to transfer capital reserve to equity capital. ▪ This Report and its abstract have been prepared in both Chinese and English. Should there be any discrepancies between the two versions, the Chinese version shall prevail. ADAMA Ltd. Annual Report 2023 3 Table of Contents Section I - Important Notice, Table of Contents and Definitions ................................................ 2 Section II - Corporate Profile and Financial Results ......................................................................... 6 Section III - Performance Discussion and Analysis ......................................................................... 12 Section IV - Corporate Governance ........................................................................................................... 53 Section V - Environment and Social Responsibilities .................................................................... 80 Section VI - Significant Events...................................................................................................................... 93 Section VII - Change in Shares & Shareholders ............................................................................... 141 Section VIII - Preferred Stock ....................................................................................................................... 152 Section IX - Corporate Bonds ...................................................................................................................... 153 Section X - Financial Report ......................................................................................................................... 154 ADAMA Ltd. Annual Report 2023 4 Contents of Documents Available for Reference (I) Duly signed Financial Statements by the Legal Representative and Accounting Principal as well as Head of the Accounting Organ. (II) Duly signed Auditor’s Report and sea