#11 Q4 & FY 2022 Update со verde AGRITECH#22 We are not good enough for you to invest if you: Are risk averse. Just want to make a quick buck. Expect delayed growth so you can earn dividends in the near term. Are looking for a traditional potash company. Don't deal well with changes. Don't understand the difficulties in developing technologies and markets for innovative products. Join our journey if you: Want to change the world into a better place. Are looking for a real-world technology developing company. Want to help Brazilian farmers protect the Amazon. Believe that Verde can make you and the planet healthier. Have watched or will watch the "Kiss the Ground” Netflix documentary. Care about soil biodiversity. If you are risk averse don't buy our stock. Don't rely on anything on this presentation. This presentation contains certain forward-looking information, which includes but is not limited to, statements with respect to Verde AgriTech Ltd's (the Company's) strategy, the commercial production of Super GreensandⓇ, K Forte®, Silício Forte®, TK47 and Alpha ("Products"), design and building of a manufacturing facility, receipt of environmental permits, and the generation of cash flow. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of the Company to differ materially from the forward-looking information. Material risk factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, the failure to obtain necessary regulatory approvals, risks associated with the mining industry in general (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), commodity price, demand for the products in Brazil, exchange rate fluctuations and other risk factors set out in the Company's most recently filed Annual Information Form under the heading "Risk Factors". Currently, the Products are commercially produced and sold in Brazil, but the Company has no concrete guarantee that it will be able to reach the sale of 25 million tonnes of Product in the market. Should commercial demand for the Products fail to develop, the Company's business model may not be appropriate. Accordingly, readers should not place undue reliance on such forward-looking information. Material factors or assumptions used to develop such forward-looking information include, but are not limited to, the demand for the Products in Brazil, the ability to secure necessary permits, the ability to secure financing, and other assumptions set out in the Company's current technical report. The Company does not currently intend to update forward-looking information in this presentation except where required by law. Total resources include all categories unless otherwise stated. The grades detailed in this presentation are conceptual in nature. The Company has filed on SEDAR a NI 43-101 compliant updated pre-feasibility study, published date May 26, 2022. All technical information should be reviewed according to this pre-feasibility study. Readers are cautioned not to rely solely on the summary of such information contained in this presentation and are directed to complete information posted on Verde's website (www.investor.verde.ag) and filed on SEDAR (www.sedar.com) and any future amendments to such. Readers are also directed to the cautionary notices and disclaimers contained herein. Potential investors should conduct their own investigations as to the suitability of investing in securities of Verde AgriTech Ltd. VERDE AGRITECH#33 Buy Super GreensandⓇ at Amazon: C Super Greensand Micronized 100% natural source of Greensand 5% OFF coupon (USA): Q4202250FF Canada: Sold Out The discount codes are valid through April 30, 2022 The codes are limited to a single unit per order and to a single order. Net weight 44lb [20kg] OMRI LISTED For Organic Use A 44 lbs bag of this product will cover 1.000 square feet of lawn. ] со verde AGRITECH na per eensand atural source of Green C Super Greensand nular % natural source of Greensand CISTERED cdfa G Super Greensand Micronized 100% natural source of Greensand weight 4lb 20kg] OMRI LISTED For Organic Use A 44 lbs bag of this product will cover 1.000 square feet of lawn. ] REGIST FRED ORCAN INPUT MATERIAL VERDE AGRITECH Net weight OMRI 44lb LISTED [20kg] A44 lbs bag of this product will cover 1.000 square feet of lawn. erde AGRITECH verde#44 Summary 2022 Market Overview 05 Production Costs Potash demand in Brazil 06 Key Metrics Yearly 16 17 Total area cultivated in Brazil x fertilizer demand 07 Sales, General and Administrative Expenses 21 Year-end stocks of fertilizers in Brazil 08 Other Highlights Commodities prices in Brazil 09 2023 Taxation - "Actual Profits" Agrometeorological monitoring 10 Loans Coffee biennial cycles 11 2023 Guidance Q4 & FY 2021 Highlights 13 Company Overview Q4 & FY 2022 Financial Statements 14 Appendix 22 23 24 25 26 45 Operational Summary 15 VERDE AGRITECH#52022 Market Overview Brazilian KCl imports ('000 tonnes) 1 1600 1400 1200 1000 800 600 400 200 0 January February March April May June 2021 2022 2023 July August September October CORPORATE PRESENTATION - TSX: NPK | OTCMKTS: VNPKF November December 1400 1200 1000 800 600 400 200 0 January 2 KCI CFR Brasil average spot price (US$)² February March April May June July August February 2022: Russo-Ukrainian war onset. March-July 2022: 154% surge in the average price of potash YoY, combined with a 45% increase in potash imports YoY by Brazil. March 2023: 47% decrease in 2022 average KCl price, compared to the current price. Sources: 1 - Brazilian Comex Stat, available at: http://comexstat.mdic.gov.br/en/geral 2- Acerto Limited Report. со 2021 2022 2023 September October November December S#6Potash demand in Brazil In 2022, Brazil's 30-year trend of increasing potash consumption was disrupted. A 15% decrease in KCl consumption YoY led to a reduction of 10% in KCl imports and a 13% decrease in Brazilian KCl production. K2O consumption in Brazil per year (million tonnes) 2,3 8.00 7.72 7.00 6.00 5.00 4.00 3.00 2.00 K20 Consumption (million tonnes) 2.71 3.99 KCl production, imports and consumption ('000 tonnes) 2,000 4,000 6,000 6,000 8,000 10,000 12,000 14,000 1 6.57 335 Nacional production 290 1.20 1.00 0.00 1990 2000 2010 2021 2022 Year Imports Consumption 2021 2022 Source: 1 - Brazilian Fertilizer Mixers Association (from "Associação Misturadores de Adubo do Brasil", in Portuguese) 2- Brazilian potash consumption, Statistical Yearbook of the National Association for the Dissemination of Fertilizers ("ANDA", from Associação Nacional para Difusão de Adubos) 3- Brazilian Fertilizer Mixers Association (from "Associação Misturadores de Adubo do Brasil", in Portuguese). CORPORATE PRESENTATION - TSX: NPK | OTCMKTS: VNPKF со 12,529 11,288 12,868 10,948 6#795,0 90,0 85,0 80,0 75,0 70,0 65,0 60,0 ÁREA TOTAL CULTIVADA (MILHÕES HA) 55,0 50,0 45,0 40,0 1990 1991 1992 Source: COGO Agribusiness Intelligence. 1993 1994 CORPORATE PRESENTATION - TSX: NPK | OTCMKTS: VNPKF Total area cultivated in Brazil x fertilizer demand Despite the increase in cultivated area, Brazilian overall fertilizer consumption also decreased in 2022. 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 со Area (million hectares) Fertilizer demand (million tonnes) CAGR 1990-2022: 5,2% 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 50,0 45,0 40,0 35,0 30,0 25,0 20,0 15,0 10,0 5,0 0,0 00 7 VENDAS FERTILIZANTES (MILHÕES TONELADAS)#8Year-end stocks of fertilizers in Brazil The YoY increase in the remaining stocks of KCl and overall fertilizers in Brazil by 23% and 16%, respectively, demonstrates a lower demand for these products over the year. Year-end stock in Brazil ('000 tonnes) 2,148 KCl 1,740 Fertilizers 8,441 7,274 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 12022 2021 Source: Brazilian Fertilizer Mixers Association (from "Associação Misturadores de Adubo do Brasil", in Portuguese). CORPORATE PRESENTATION - TSX: NPK | OTCMKTS: VNPKF со 8 00#9Commodities prices in Brazil Soybeans (Paranaguá) and Arabica coffee prices dropped by 13% and 24% from January 03, 2022, to March 29, 2023, respectively. 210 Soybeans price - Paranaguá (R$) 1 KCI CFR Brasil average spot price (US$)² 1200 200 190 180 170 160 150 03/01/2022 14/02/2022 30/03/2022 CORPORATE PRESENTATION - TSX: NPK | OTCMKTS: VNPKF 13/05/2022 27/06/2022 08/08/2022 20/09/2022 03/11/2022 Source: 1 - CEPEA - ESALQ / USP. Available at: https://www.cepea.esalq.usp.br/br/indicador/soja.aspx 2- Acerto Limited Report. 16/12/2022 30/01/2023 15/03/2023 со 1000 800 600 400 200 0 abr/22 mai/22 jun/22 jul/22 ago/22 set/22 out/22 nov/22 dez/22 jan/23 fev/23 mar/23 6#10Agrometeorological monitoring The Brazilian coffee sector experienced significant challenges in 2022 due to adverse climate conditions, following on two years of frost and drought. 5N INMET One of the main causes of the EQ 1000 scarcity of rain in the south 750 58 500 regions was the persistence of 10S 90 250 100 (mm) 158 -100 -250 208 -500 -750 259 59 -1000 308 the La Niña phenomenon. 2022 was the third year under the influence of the phenomenon, and as a result, impacts were recorded on the 2021/2022 grain 358 crops, as well as the 2020/2021. 75W 70% 65W 60W 55W 50% 45N 40W 35W 75W 70W 65W 60W 55W 50% 45W Air temperature anomalies (°C) in 2022 INMET 100 2 1.5 1 0.6 0.4 (°C) 0.2 -0.2 -0.4 -0.6 Temperatures were below average in the northwest of the North Region, the interior of the Northeast Region, as well as in the north of Minas Gerais, Espírito Santo, Rio de Janeiro, -1 the east of São Paulo, Paraná, -1.5 -2 and Santa Catarina. 35W Precipitation anomalies (mm) in 2022 Source: INMET - National Institute of Meteorology (Brazilian Ministry of Agriculture And Livestock). Status of the Climate in Brazil in 2022. Available at: https://portal.inmet.gov.br/uploads/notastecnicas/Estado-do-clima-no- Brasilem-2022-OFICIAL.pdf CORPORATE PRESENTATION - TSX: NPK | OTCMKTS: VNPKF со 10 10#11Em scs/ha Coffee biennial cycles Coffee productivity in Brazil in years of positive and negative biennial cycle. 35.00 30.00 25,00 20,00 15.00 10.00 5,00 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Bienalidade negativa CORPORATE PRESENTATION - TSX: NPK | OTCMKTS: VNPKF 2012 2013 2014 2015 2016 2017 2018 Bienalidade positiva 2019 2020 2021 (1) 34 32 30 28 27.2 26 24.96 24 22 20 22 Yearly coffee productivity report (sc/ha) 33.48 33.27 27.7 26.4 22.6 21.6 The biennial cycle is a characteristic of coffee trees, which consists of an alternation of a year with a large flowering followed by another with less intensity. In 2021, a lower production was already expected, compared to 2020, due to the productive biennial cycle of Arabica coffee. However, the 2021 harvest was further affected by negative bienniality due to adverse weather conditions. Brazilian's average productivity in 2022 was only 4.8% higher than 2021, a year of negative bienniality, and 19.3% lower than 2020, a year of positive bienniality. 2019 (-) 2020 (+) -Minas Gerais state 2021 (-) 2022 (+) -Brazilian average productivity Source: Brazilian National Supply Company (CONAB), Ministry of Agrarian Development and Family Agriculture. 4th Survey of the Coffee Harvest (December). Available at: 2020, 2021 and 2022. со 11#12Coffee sector impacts 25% 20% 15% Percentage of sales made to the coffee sector in Q4 25% 10% 9% 5% Year Number of customers from the coffee sector in Q4 Percentage of customers' purchase potential supplied by Verde 2020 113 33% 2021 98 29% 2022 49 63% 5% The rise in the percentage of Q4 clients' total purchase potential (in tonnes of Product) served by Verde, indicates a boost in market adoption driven by customers utilizing Verde's Products over a larger expanse of their farms. 0% 2020 2021 2022 CORPORATE PRESENTATION - TSX: NPK | OTCMKTS: VNPKF со 12#1313 Q4 & FY 2021 Highlights Cash Profitability Operations Cash utilised from investing activities increased by 1,527% in Q4 2022, to $12,6M and 1,547% in FY 2022 to $42.0M. Trade and other receivables increased by 90% in 2022, to $28,5M. Total loans for CAPEX and working capital in December 31: $38.1M. Capital expenditures increased to $41,623,000 in FY 20222 compared to $2,179,000 in FY 2021. Revenue increased by 55% in Q4 2022, to $16,8M, and by 190% in FY 2022, to $80,3M, compared the same period of 2021 Sales by volume decreased by 7% in Q4 2022, to 125,000 tonnes, compared to 134,000 tonnes sold in Q4 2021, and increased by 57% in FY 2022, to 628,000 tonnes sold, compared to 400,000 in FY 2021. EBITDA decreased by 47% in Q4 2022 to $1,3M, compared to $2,5M in Q4 2021 and increased by 271% in FY 2022, to $23,9M compared to $6,5M in FY 2021. The Group suffered a net loss of $1,3M for Q4 2022, and generated a net profit of $17,8M in FY 2022. In August 2022, Verde announced the commissioning of its Plant 2 to produce up to 1.2 Mtpy of the Product. It achieved its nameplate capacity in October 2022. In parallel, Plant 2 was undergoing an expansion process to be capable of producing 2.4Mtpy, construction which is now concluded. Verde's Plant 1 operates at a capacity of 0.6Mtpy; therefore, Verde's current overall production capacity is 3Mtpy. * All figures in this presentation are in Canadian dollars, unless stated otherwise Average exchange rate in Q4 2022: C$1.00 = R$3.97 VERDE AGRITECH#1414 Q4 & FY 2022 Financial Statements All amounts in CAD $'000 Revenue Q4 2022 Q4 2021 % A FY 2022 FY 2021 % A 16,837 10,851 55% 80,271 27,709 190% Production costs (3,975) (2,691) 47% (18,022) (7,131) 153% Gross Profit 12,870 8,160 58% 62,249 20,578 203% Gross Margin 76% 75% N/A 78% 74% N/A Sales and product delivery freight expenses (9,892) (4,463) 122% (32,986) (11,252) 393% General and administrative expenses (1,685) (1,245) 35% (5,351) (2,876) 86% EBITDA 1,293 2,452 (47%) 23,912 6,450 271% Share Based and Bonus Payments (Non-Cash (220) (23) 857% (344) (1,551) (78%) Event) Depreciation and Amortisation (33) (18) 83% (181) (53) 242% Profit on disposal of plant and equipment N/A 9 N/A Operating Profit after non-cash events 1,040 2,411 (57%) 23,387 4,855 382% Interest Income/Expense* (1,812) (*) (173) 947% (2,964) (402) 637% Net Profit before tax Income tax (772) 2,238 (134%) 20,423 4,453 359% (540) (360) 50% (2,619) (931) 181% Net Profit (Loss) (1,312) 1,878 (170%) 17,804 3,522 406% * $516,000 out of $1,812,000 interest expenses in Q4 2022 were due to a specific type of loan with Itaú and Banco do Brasil in Q4 2022, named "Reverse Factoring". In Q4 2022, these loans total $6,313,000. VERDE AGRITECH#1515 Operational Summary All amounts in CAD $'000 Q4 2022 Q4 2021 % A FY 2022 FY 2021 % A Tonnes sold '000 125 134 (7%) 628 400 57% Average revenue per tonne sold $ 135 81 67% 128 69 86% Average production cost per tonne sold $ (32) (20) 58% (29) (18) 61% Average Gross Profit per tonne sold $ 103 61 69% 99 51 94% Average Gross Margin 76% 75% N/A 78% 74% N/A Operational Summary - Excluding freight revenue All amounts in CAD $, except percentages Average Revenue per tonne sold Average Production cost per tonne sold Average Gross Profit per tonne sold Average Gross Margin Q4 2022 Q4 2021 % A FY 2022 FY 2021 % A 61 54 15% 83 47 76% (32) (20) 58% (29) (18) 61% 30 33 (11%) 54 29 86% 48% 62% N/A 65% 62% N/A Excluding revenue with freight, the average revenue per tonne and gross margin still improved in the year. VERDE AGRITECH#16Production costs The table below shows a breakdown of Verde's production costs for BAKSⓇ and K Forte®, and what percentage of those costs is not controllable by management: Projected cost per tonne of product for 2023 (C$) (¹) K ForteⓇ Bulk (Plant 1) K ForteⓇ Bulk (Plant 2) Total cost expected Non-controllable costs Cash cost Assets depreciation for 2023 (2) (% of total costs) 20.2 3.8 24.0 61% 10.2 2.8 13.0 58% K Forte® Big Bag (Plant 1) 30.4 2.8 33.2 71% BAKS® (2%S 0.2%B) (3) Bulk (Plant 1) 42.1 3.8 45.9 81% BAKS® (2%S 0.2%B) Big Bag (Plant 1) 51.3 3.8 55.0 85% 1- The costs were estimated based on the following assumptions: Costs in line with Verde's 2023 budget. Sales volume of 1.0Mt per year. Crude Oil WTI (NYM U$/bbl) = US$80.00. Diesel price = U$$1.26. Currency exchange rate: US$1.00 = R$5.25; C$1.00 = R$ 4.20. Total cost per tonne includes all costs directly related to production and feedstock extraction in addition to assets depreciation 2 - Total cost per tonne includes labor mining, mining, crushing, processing, maintenance of support facilities, product transportation from mine pits to production plants, laboratory expenses, G&A, and environmental compensation expenses. 3- BAKSⓇ can be customized according to the crop's needs, so it can have several compositions. The 2%S 0.2% B composition is responsible for most of Verde's sales. VERDE AGRITECH#1717 Key Metrics Yearly 10,000,000² 23,000,000 2 50,000,000 2 Sales (Tonnes) 1,400,000 1,200,000 1,000,000 800,000 600,000 400,000 200,000 29,648 2018 119,809 243,707 2019 2020 400,133 2021 628,000 2022 1,200,000 1 1 800,000 2023 PFS 10Mtpy PFS 23Mtpy PFS 50Mtpy 1 - Targeted range sales volume and revenue based on FY 2023 guidance. 2 Distinct production scenarios contemplated in the updated NI 43-101 Pre-Feasibility Technical Report Cerrado Verde Project (PFS). Currency exchange rate: US$1.00 = R$5.30. For further information, please see PFS at: https://investor.verde.ag/wp-content/uploads/2022/05/NI-43-101-Pre-Feasibility-Technical-Report-for-the-Cerrado-Verde-Project.pdf. VERDE AGRITECH#1818 Key Metrics Yearly 120,000 100,000 80,000 60,000 40,000 20,000 9,167 6,029 1,358 2018 2019 2020 Revenue ('000 CAD) 27,710 2021 80,271 2022 115,332¹ 1 78,135 2 2 2 1,117,098 2,503,850 5,005,060 2023 PFS 10Mtpy PFS 23Mtpy PFS 50Mtpy 1- Targeted range sales volume and revenue based on FY 2023 guidance. Average currency exchange rate: C$1.00 = R$4.20. 2 Distinct production scenarios contemplated in the updated NI 43-101 Pre-Feasibility Technical Report Cerrado Verde Project (PFS). Currency exchange rate: US$1.00 = R$5.30. For further information, please see PFS at: https://investor.verde.ag/wp-content/uploads/2022/05/NI-43-101-Pre-Feasibility-Technical-Report-for-the-Cerrado-Verde-Project.pdf - VERDE AGRITECH#1919 Key Metrics Yearly EBTIDA ('000 CAD) 564,8942 1,222,722² 2,241,7292 33,500 28,500 23,500 18,500 13,500 8,500 3,500 1,591 (1,444) 25 (1,500) 2018 2019 2020 6,450 2021 24,565 23,912 1 9,341 2022 2023 PFS 10Mtpy PFS 23Mtpy PFS 50Mtpy 1 - Targeted EBTIDA and EPS based on FY 2023 guidance. Average currency exchange rate: C$1.00 = R$4.20. 2 Distinct production scenarios contemplated in the updated NI 43-101 Pre-Feasibility Technical Report Cerrado Verde Project (PFS). Currency exchange rate: US$1.00 = R$5.30. For further information, please see PFS at: https://investor.verde.ag/wp-content/uploads/2022/05/NI-43-101-Pre-Feasibility-Technical-Report-for-the-Cerrado-Verde-Project.pdf VERDE AGRITECH#2020 20 Key Metrics Yearly 0.45 0.35 0.25 0.15 0.05 (0.04) (0.02) (0.05) 2018 2019 0.01 2020 2 6.142 13.24 23.57 Earning/loss per share (CAD) (3) 0.07 2021 0.34 2022 0.291 2023 0.04 PFS 10Mtpy PFS 23Mtpy PFS 50Mtpy 1 - Targeted EBTIDA and EPS based on FY 2023 guidance. 2 Distinct production scenarios contemplated in the updated NI 43-101 Pre-Feasibility Technical Report Cerrado Verde Project (PFS). Currency exchange rate: US$1.00 = R$5.30. For further information, please see PFS at: https://investor.verde.ag/wp-content/uploads/2022/05/NI-43-101-Pre-Feasibility-Technical-Report-for-the-Cerrado-Verde-Project.pdf. (3) Assuming no dilution VERDE AGRITECH#2121 Sales, General and Administrative Expenses All amounts in CAD $'000, except percentages Q4 2022 Q4 2021 % A FY 2022 FY 2021 % A Sales Expenses Sales and marketing expenses (533) (578) (8%) (3,451) (1,818) 90% Fees paid to sales agents (196) (203) (3%) (1,172) (464) 153% Product delivery freight expenses (9,163) (3,682) 149% (28,363) (8,970) 216% Total sales expenses (9,892) (4,463) 122% (32,986) (11,252) 193% General expenses General administrative expenses (1,270) (612) 108% (3,166) (1,621) 95% Legal, professional, consultancy and audit costs (188) (516) (64%) (1,343) (915) 47% IT/Software expenses (219) (103) 113% (788) (307) 157% Taxes and licenses fees (8) (14) (43%) (54) (33) 64% Total General expenses (1,685) (1,245) 35% (5,351) (2,876) 86% VERDE AGRITECH#22Other Highlights 700,000 600,000 500,000 444,631 400,000 300,000 183,483 200,000 100,000 FOB vs CIF (tonnes) 628,114 192,608 207,525 0 FY 2022 FY 2021 FOB CIF Total Sales (tonnes) FY 2022 FY 2021 % A FOB 183,483 192,608 (5%) 400,133 CIF 444,631 207,525 114% Total 628,114 400,133 57% VERDE AGRITECH The Company has significantly increased the volume sold as CIF, from 52% of total sales in FY 2021 to 71% in FY 2022.#232023 Taxation - "Actual Profits" Prior to December 31, 2022, the Brazilian subsidiary was subject to the 'Assumed Profits' taxation method. However, starting January 2023, the subsidiary is now subject to income taxes using the 'Actual Profits' method ('Lucro Real') based on taxable income. Under this method, the taxes projected for 2023 are as follows: 2023 2023 $'000 (Ex Rate BRL4,20) 2021 2022 (800Mt) (1,000Mt) Verde Brazilian subsidiary profit before taxes Income taxes $7,720 $22,320 $6,852 $14,233 $665 $2,409 $2,580 $4,765 Total Taxes (% of net profit )* 9% 11% 38% 34% This method of taxation involves certain additions and exclusions. The company will be allowed to exclude up to 30% due to prior period losses, along with other investments that are deductible from the basis such as the "Lei do Bem" law and other tax compensations. These exclusions could offset up to 100% of the taxes to be paid in the year. Tax payments are calculated on a quarterly basis, and the exact percentage may vary depending on the specific circumstances. * As the headquarter is a non-profitable entity, calculating income tax based on the subsidiary's net profit before tax could result in a high percentage of the net profit. CORPORATE PRESENTATION - TSX: NPK | OTCMKTS: VNPKF со 23 23#2424 Loans Company Loans Profile 60,000 50,000 40,000 30,000 20,000 10,000 Q2'23 Q3'23 Q4'23 Q1'24 -Initial of the Period Loans Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 →Loan Payments (included Interest) Q3'25 Q4'25 Q1'26 Q2'26 Q3'26 Q4'26 • The Group's average current loan rates is 15.36% per annum $'million Q2'23023 2024 2025 2026 to Q4 2023 *Total Loans (end of the period) 32,9 16,0 8,8 5,3 . Amortization (during the period) 20,2 16,9 7,2 3,5 In Q2 2023, the company secured additional loans of $5. million with Banco of Brazil repayable in 48 months with 12 months of grace period In Q1 2023, the company held trade receivables valued at over $34,3 million, which will also contribute to reinforcing the company's cash flow for the purpose of payment the full amount due in 2023 and a portion of the amount due in 2024. *Total loans and payments includes all interest projected for the operation. Values might change according to the Brazilian central Bank rate (Selic) VERDE AGRITECH#252023 Guidance As previously described, potash trends did not meet the market's expectations after the Ukraine war, reflecting in decreasing fertilizer prices and lower demand throughout 2022. The price of potash has been on a downward trend since late 2022, with a decrease of 47% in 2022 average KCI CFR Brasil price, compared to the current price, leading farmers to holdback potash purchases with the expectation of even lower prices in the near future. Verde's guidance for 2023 is described in the table below: FY 2023 Guidance Sales target (tonnes) Revenue (C$'000) EBITDA (C$'000)1 EPS (C$) Range - 800,000 1,200,000 78,135 - 115,332 9,341 - 24,565 0.04 -0.29 Cash held + Trade Receivables (C$'000) $21,979 - $35,004 The 2023 guidance is underpinned by the following assumptions: Average Brazilian Real ("R$") to Canadian dollar exchange rate: C$1.00 = R$4.20 • Average KCI CFR Brazil price of US$450, with an overall discount rate of 10%, resulting in the final price of US$405. Sales Incoterms: 70% CIF and 30% FOB Sales channels: 47% direct sales and 53% indirect sales Income taxes: 34% of the subsidiary net profit before taxes Capital expenditures in HSE and manufacturing projects to conclude Plant 2, improve Plant 1, and access to both plants: from $4 to $6 million. 1- Before non-cash events. CORPORATE PRESENTATION - TSX: NPK | OTCMKTS: VNPKF со 25#26Empty#27Verde has 1.3Bn tons of Proven and Probable Reserves Mineral Reserves - Proven and Probable (1) Summary Proven Probable Proven & Probable Tonnes (Mt) Tonnes 81 (Mt of KCI Equivalent) 13 K20 Grade (%) 9.96% 1,217 185 9.14% 1,298 198 9.19% Mineral Resources - Measured, Indicated and Inferred Summary Mineral Resource Estimate The Cerrado Verde Project mineral resource estimate is based on 435 holes drilled at a nominal spacing of ~200m by 200m The mineral resource estimate was focused on a flat-lying, sub-horizontal mineralized domain and drill tested to the depth of the mineralization using a 6% K20 grade cut-off Drainage pattern across Cerrado Verde project area Tonnes Tonnes (Mt) (Mt of KCI Equivalent) Measured 83 14 K20 Grade (%) 10.13% Indicated 1,389 214 9.23% a Measured & Indicated (2) 1,472 228 9.28% % of K20 Inferred(3) 1,850 265 8.60% Measured, Indicated & Inferred 3,322 493 8.90% 0% - 5% 5% -6% 6% - 8% 8% -9% 9% -10% 10% - 15% Source: Company, Technical Feasibility Report, AMS Consulting Notes: PC 1. Probable Mineral Reserve: The economically mineable part of an indicated, and in some circumstances, a measured mineral resource. The confidence in the modifying factors applied to a probable mineral reserve is lower than that applied to a proven mineral reserve. Proven Mineral Reserve: The economically minable part of a measured mineral resource. A proven mineral reserve implies a high degree of confidence in the modifying factors. 2. An indicated mineral resource' is that part of a mineral resource for which quantity, grade or quality, densities, shape and physical characteristics can be estimated with a level of confidence. A 'measured mineral resource' is that part of a mineral resource for which quantity, grade or quality, densities, shape, physical characteristics are so well established that they can be estimated with a level of confidence 3. An 'inferred mineral resource' is that part of a mineral resource for which quantity and grade or quality can be estimated on the basis of geological evidence and limited sampling and reasonably assumed, but not verified, geological and grade continuity 100m x 100m spaced infil drilling#28Company Investments ($2000) The Company invested over $111 million since its foundation. The investments were mainly in research and development, landing, construction of Plant 1 and Plant 2, equipment, and access improvement. Company Investments ($2000) 35,000 30,000 25,000 20,000 15,000 10,000 5,000 || 41,623 111,238 Pre IPO 2007 2011 2012 2017 2018 2019 2020 2021 2022 Total CORPORATE PRESENTATION - TSX: NPK | OTCMKTS: VNPKF со 28 20#29Pre-Feasibility Study Snapshot Pre-Feasibility Study production scenario for 50Mtpy of Verde's product, composed of K2O + S + Micronutrients Proven and probable reserves (Mt) 1,297.66 The production scenario for 50Mtpy of Verde's product, composed of K2O + S + Micronutrients predicts a Net Present Value per share of up to C$332.08.* Capex (US$M) 553.99 Operating cost (US$/t of Product) 8.06 General and Administrative Expenses (US$/t of Product) 2.01 Sustaining capital (US$/t of Product) 0.50 Product sale price (US$/t of Product) 92.05 NPV after-tax at 8% discount (US$B) 13.54 IRR after-tax (%) 227.08 Cumulative Cash Flow (US$B) 32.98 CORPORATE PRESENTATION - TSX: NPK | OTCMKTS: VNPKF * Estimated Net Present Value after tax of US$13.54 billion, with 8% discount rate and Internal Rate of Return of 227.08%, based on the NI 43-101 Pre-Feasibility Technical Report Cerrado Verde Project elaborated by the Verde in 2022, assuming a potash price at less than a third of current Potassium Chloride. NPV and IRR were calculated considering the 50Mtpy production Scenario, with the K₂O+S+ Micronutrients Product composition. Currency exchange rate: US$1.00 = C$1.29. US$13.54 billion = C$17.47 billion NPV after tax divided by 52,597,951 shares outstanding as of December 31, 2022. The PFS relies on a KCI CFR Brazil port long term price of US$368.65 per tonne. For further information, see press release issued by the Company on May 16, 2022: https://investor.verde.ag/wp-content/uploads/2022/05/Verde-AgriTech-Press-Release-Pre-Feasibility- Results-May-16-2022.pdf The PSF can be accessed at: https://investor.verde.ag/wp-content/uploads/2022/05/NI-43-101-Pre- Feasibility-Technical-Report-for-the-Cerrado-Verde-Project.pdf со 29 29#3030 1,400,000 1,200,000 1,000,000 800,000 600,000 400,000 200,000 29,648 2018 119,809 243,707 2019 2020 400,133 2021 Sales (Tonnes) 628,000 2022 1,200,000 1 1 800,000 10,000,000² 23,000,000 2 50,000,000 2 2023 PFS 10Mtpy PFS 23Mtpy PFS 50Mtpy 1 - Targeted range sales volume and revenue based on FY 2023 guidance. 2 Distinct production scenarios contemplated in the updated NI 43-101 Pre-Feasibility Technical Report Cerrado Verde Project (PFS). Currency exchange rate: US$1.00 = R$5.30. For further information, please see PFS at: https://investor.verde.ag/wp-content/uploads/2022/05/NI-43-101-Pre-Feasibility-Technical-Report-for-the-Cerrado-Verde-Project.pdf. VERDE AGRITECH#31Outstanding Operational Facilities Already in Place Existing production capacity (1) of 3.0mtpy (0.5 mtpy KCI equivalent) Verde AgriTech's Operational Mine 31 Notes: 1. Effective installed capacity, assuming 83% maximum utilization on nameplate capacity VERDE AGRITECH Plant Infrastructure Mine Overview#3232 32 Mining Pit and Processing Plants Fully Operational, including Brand New Plant 2 Mine Pit 1 Processing Plant 1 Mine Pit 2 Processing Plant 2 VERDE AGRITECH#333 Beyond the K - Verde's Proprietary Technologies Technology-Enabled Products Providing Best Solutions for Crop Nutrition/Protection, Soil Improvement and Sustainability • • • • cambridge tech Technology changes the structure of Glauconitic Siltstone through mechanical activation Ensure that potassium and other nutrients are made available to plants progressively Nutrients are available to plants for a longer time Reduction of product loss by leaching MS microS technology Micro S Technology is BAKSⓇ's exclusive elemental sulphur micronization technology The granulometry of the sulphur source is a key factor as the smaller the particle size of S, the greater the contact surface, increasing oxidation rate and plant development efficiency bio revolution Bio Revolution is Verde's newest technology that enables the incorporation of microorganisms to mineral fertilizers The Company has filed for patent protection of its Bio Revolution technology . Nk Nkeeper N Keeper is a proprietary processing technology for glauconitic siltstone Alters its physical- chemical properties to enable ammonia retention for use as a calibrated additive in Nitrogen fertilizers 3d alliance 3D Alliance is a technology developed to transform the three- dimensional structure of the raw materials added to the fertilizer The materials are subjected to physical transformations, increasing their specific surfaces and forming microparticles that release nutrients progressively 33 VERDE AGRITECH#34Bio Revolution Technology Enables Microorganisms Incorporation br bio revolution 34 == The use of microorganisms in the Brazilian Agriculture 1 Verde is the largest player in the Brazilian fertilizer industry to add microorganisms to its products 2 K ForteⓇ will be the first fertilizer in the world to use Bio Revolution technology 3 This technology has been developed in partnership with researchers from well recognized federal universities in Brazil 4 Bacillus aryabhattai is the first microorganism to be added to Verde's products, improving nutrition, growth and resistance to abiotic and biotic stresses VERDE AGRITECH 史图#35Biologicals Are a Game Changer for Agriculture Verde is the largest player in the Brazilian fertilizer industry to add microorganisms to its products Biologicals overview Greater application of biologicals **** Biologicals are products for crop protection and fertilizers that use natural sources ingredients . Examples of components include microbes, bacteria, proteins, peptides and others Higher income to farmers • Main drivers for this market are: 1. Lower development costs and increasing R&D and technology progress 35 2. Shorter time to market 3. Alternative to synthetic products 4. A more environmentally friendly solution Source: The Insight Partners Analysis Greater customer satisfaction Reduced emissions Biologicals main benefits to agriculture value chain KI Higher yields VERDE AGRITECH Improved soil health Lower input Costs Largest Players in the Biologicals Universe andes AgroSpheres Bio Consortia" biotalys BIO CLOUD ANUVIA BOOST PLANET INSPIRED PRODUCTS BIOMES Bioceres Crop Solutions PIVOT BIO AGRAGENE Terramera Groundwork BioAg HOLGANIX Soil Nourishing Root Stimulating" HARPE BIO HERBICIDE NewLeaf symbiotics со TRACE VALENT BIOSCIENCES. verde AGRITECH indigo AGBIOME invaio EDEN THE NATURAL SOLUTION PLANT HEALTH CARE MustGrow BIOLOGICS CORP. IMPETUS AG KULA BIO Pattern Ag ENKO Sound Koppert PRIMASEA semios PROVIVI SCD Probiotics CIENCIA PARA A NUTRICAO DA VIDA#3636 BAKS® is a Cost-Efficient Solution that Requires Less Applications BAKS® Grains Comparison between BAKSⓇ Grains vs. a Conventional Source Results from Exercises Verde has recently published a report comparing the impacts of the use of BAKS® Grains vs. a conventional source of Sulphur 1 First exercise had 4 steps: 1 application of BAKS®, 2 applications of MAP and 1 application of urea 2 Second exercise had 5 steps: 1 application of MAP with pastille sulphur, 2 applications of KCI, 1 application of MAP alone and 1 application of urea Source: Company Filings 1 2 Operation BAKS® Grains Conventional Source 1 2 BAKS® Grains Conventional Source Soybean Operational Cost (R$/ha) 355 392 Pre-Planting BAKSⓇ I Plantation Furrow MAP MAP + pastille sulphur Fertilizer Cost (R$/ha) I 4,273 4,325 1st Cover 2nd Cover KCI I Total Cost 4,628 4,717 Corn Plantation Furrow MAP MAP 1st Cover Urea KCI 2nd Cover Urea Total Applications 4 5 VERDE AGRITECH#3737 BAKS® is a Cost-Efficient Solution that Requires Less Applications (Cont'd) BAKS® Coffee Comparison between BAKSⓇ Coffee vs. a Conventional Source Results from Exercises Verde has recently published a report comparing the impacts of the use of BAKS® Coffee vs. a conventional source of Sulphur 1 2 Operation BAKS® Coffee Conventional Source Coffee 1 2 BAKSⓇ Coffee Conventional Source Operational Cost (R$/ha) 288 336 1 First exercise had 3 steps: 1 application of BAKS®, 2 applications of Urea 1st Cover BAKSⓇ Coffee MAP + micronutrients I Fertilizer Cost (R$/ha) I 4.180 4,242 " 2nd Cover Urea NK 22-00-25 Total Cost 4,468 4,578 3rd Cover Urea NK 22-00-25 2 Second exercise had 4 steps: 1 application of MAP with micronutrients and 3 applications of NK 22-00-25 4th Cover NK 22-00-25 Source: Company Filings Total 3 Applications VERDE AGRITECH 4#3838 BAKS® is a Cost-Efficient Solution that Requires Less Applications (Cont'd) BAKS® Eucalyptus Comparison between BAKSⓇ Eucalyptus vs. a Conventional Source Results from Exercises Verde has recently published a report comparing the impacts of the use of BAKSⓇ Eucalyptus vs. a conventional source of Sulphur 1 2 Operation BAKS® Eucalyptus Eucalyptus Conventional Source 1 2 BAKSⓇ Eucalyptus Conventional Source Operational Cost (R$/ha) 175 294 I 1 First exercise had 1 steps: 1 application of BAKS®, 2 applications of Urea Pre-Cutting BAKSⓇ Eucalyptus NK 12-24-12 + micronutrients Fertilizer Cost (R$/ha) I 2,174 2,180 1st Cover 2 Second exercise had 3 steps: 1 application of MAP with micronutrients and 3 applications of NK 22-00-25 2nd Cover Total Applications Source: Company Filings NK 10-00-33 + Sulphur + Boron KCI 1 3 VERDE AGRITECH Total Cost 2,349 2,474#3939 Micro S Technology Allows BAKS Superior Efficiency vs. Elemental S Pastille . ● . MS microS technology Micro S Technology is BAKSⓇ's exclusive elemental sulphur micronization technology, offering a source of sulphur with small granulometry The granulometry is a key factor as the smaller the particle size of S, the greater the contact surface, increasing oxidation rate and plant development efficiency BAKS®, using MicroS technology, is an efficient source of reduced Sulphur, which can be oxidized by microorganisms and then absorbed gradually by plants # of pods per plant 50 35 20 LO 5 0 Number of pods per plant 50 # of grains per plant 120 70 20 20 50 100 150 200 Level of Sulphur (mg kg) Number of grains per plant Grain Yield per pot 50 50 35 20 20 Grain yield per pot (g) 5 0 50 100 150 200 0 50 100 150 200 Level of Sulphur (mg kg) Level of Sulphur (mg kg) Notes: 1. According to anez et al. 2020. Sulphur modulates yield and storage proteins in soybean grains. Sci. agric. (Piracicaba, Braz.) [online]. 2021, vol. 78, n.1, e20190020. Epub Mar 13, 2020. ISSN 1678- 992X. https://doi.org/10.1590/1678-992x-2019-0020. Elemental S powder Exemple: BAKS® VERDE AGRITECH Elemental S pastille#4040 Our margins with proprietary technologies Our products contain different technologies that increase their added value for Verde and for our customers. Product Technology Added nutrient Cost per tonne of Grade (%) BAKSⓇ with added nutrient (R$)¹ Sales price per Margin per tonne of tonne of BAKSⓇ fertilizer sold with (R$)¹ added nutrient (R$) Margin per tonne (%) BAKS® BAKS® Micro S Technology 3D Alliance Sulfur - 1.00% 5.00% - 20.68 103.40 - 47.99 239.95 27.31 - 136.55 56.91% Boron BAKS® 3D Alliance Zinc BAKS® 3D Alliance Copper 0.10% -0.30% 0.10% -0.40% 0.10% -0.40% 18.54 - 55.62 17.30 - 69.20 58.91 - 235.64 - 45.99 137.97 27.45 -82.35 59.69% 41.19164.76 23.89 - 95.56 58.00% 86.31 - 345.24 27.40 109.60 31.75% 1 - Nutrients price can change daily. This slide is based on the prices as of January 20, 2023 (Source: Quotes from Verde's suppliers). VERDE AGRITECH#4141 Sales Channels Sales channels quarterly (% of total sales) 80% 76% 70% 60% 50% 40% 30% 21% 20% 10% 0% 2% 59% 60% Sales channels yearly (% of total sales) 50% 40% 42% 32% Q4 2022 Q4 2021 Direct Sales ■Sales Agents Distributors 20% 9% 54% 37% 8% 0% FY 2022 Direct Sales ■Sales Agents FY 2021 ■Distributors VERDE AGRITECH 9%#4242 Al powered Sales Jasper Meet Einstein GPT, the World's First Generative Al for CRM synthesia VERDE AGRITECH#4343 Strategic partnerships for Product distribution LAVORO Lavoro Group is the largest distributor of agricultural inputs in Latin America. It operates over 190 stores, staffed by 2,500 employees in Brazil, many of whom are agronomists and farming specialists who work closely with its over 55,000 clients. Lavoro was created through the acquisitions and mergers of more than 20 large and medium- sized distributors, under the control of the Pátria Investimentos, a leading investment firm focused on Latin America with combined assets under management of $27.6 billion A AgroGalaxy is one of the main retail platforms of agricutural Inputs and services focused on agribusiness in Brazil. AgroGalaxy is a highly respected integrated agriculture ecosystem and one of the country's largest platforms for agricultural inputs, seed production, storage and sale of grains, origination, and agronomic consultancy services. It has over 145 stores that cover around 1,000 municipalities across 12 Brazilian states, providing capillarity to Brazil's most prolific farming regions. With over 24,000 clients, AgroGalaxy cultivates close relationships with farmers to advise them on the agricultural inputs and the products that are most suited to their crops' and regions' specific needs. VERDE AGRITECH#4444 Salesforce Maps Home Q Search... + ? Maps Maps Advanced Route Maps Advanced Visit Plans Maps Advanced Shared Visit Windo... Maps Live Asset Daily Summari... Maps Live loT Devices ✓ More B Salesforce Maps Layers Routes Schedule List Trujillo Google Lima BOLIVIA Cochabamba Sucre San Miguel de Tucumán PARAGUAY Asunción BRAZIL Campo Grande Brasilia Goiania mpinas Sao Paulo Santos Curitiba Florianópolis VERDE AGRITECH Belo Horizonte Rio de Janeiro Q Search for... 0 Sources: Esri, HERE, Garmin, USGS, Intermap, INCREMENT P, NRCan, Esri Japan, METI, Esri China (Hong Kon.... Vitória Salvador Maceio + Keyboard shortcuts Map data ©2023 Google, INEGI 200 km L Terms of Use#45Carbon sequestration 45 VERDE AGRITECH#4646 Appendix#4747 Brazilian Economic Scenario Brazilian Real versus US Dollar 5.80 5.65 5.54 5.56 5.60 5.40 5.20 5.00 From October to December 2022, the Brazilian Real valued by 6% in relation to US Dollar, compared to the same period of 2021. 4.80 4.60 4.40 4.20 As of March 28, 2023, US$1.00 = R$5.17 Brazilian Real versus Canadian Dollar USD/BRL Exchange Rate 5.25 5.27 5.24 jul/22 aug/22 sep/22 oct/22 nov/22 dec/22 out/21 nov/21 dec/21 Jan/22 fev/22 mar/22 4.60 4.46 4.42 4.42 CAD/BRL Exchange Rate apr/22 may/22 jun/22 4.40 From October to December 2022, the Brazilian Real 4.20 valued by 13% in relation to Canadian Dollar, 4.00 compared to the same period of 2021. 3.80 As of March 28, 2023, C$1.00 = R$3.79 3.60 3.40 Source: https://www.bcb.gov.br/estabilidadefinanceira/historicocotacoes oct/21 nov/21 dec/21 VERDE AGRITECH 3.83 3.92 jan/22 fev/22 mar/22 apr/22 may/22 jun/22 jul/22 aug/22 sep/22 oct/22 nov/22 dec/22 3.85#4848 Brazilian Economic Scenario Diesel and Crude Oil Prices (R$ vs US$) R$ 6.0 US$120 US$103 US$99 R$ 5.0 US$92 92.38 US$100 R$ 4.0 US$73 US$75_US$75 US$80 US$59 R$ 3.0 US$60 R$ 5.6 R$ 4.9 R$ 4.5 4.75 R$ 2.0 US$40 R$ 3.1 R$ 3.3 R$ 2.8 R$ 2.7 R$ 1.0 US$20 R$ - US$- Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 ■Distributor Price (BRL/Litre) -Crude Oil (USD) Source: 1-Acerto Limited Report, Agribusiness Intelligence for Latin America 2- https://tradingeconomics.com/commodity/crude-oil/ https://setcemg.org.br/reajuste-de-preco-de-diesel/ VERDE AGRITECH Diesel price sold by distributors in Brazil increased by 42% in Q4 2022 compared to Q4 2021. Crude Oil international price increased by 23% in the same period.#4949 May 16, 2018 Aug 01, 2018 Oct 31, 2018 Feb 06, 2019 May 08, 2019 Jul 31, 2019 Oct 30, 2019 Feb 05, 2020 May 06, 2020 Brazilian Economic Scenario Brazilian SELIC interest rate 16.00% 14.00% 12.00% 10.00% 8.00% 6.00% 4.00% Aug 05, 2020 Oct 28, 2020 Source: Banco Central do Brasil. Available at: https://www.bcb.gov.br/en Jan 20, 2021 May 05, 2021 Aug 04, 2021 Oct 27, 2021 Feb 02, 2022 May 04, 2022 Aug 03, 2022 Sep 22, 2022 Dec 07, 2022 Mar 22, 2023 VERDE AGRITECH Before the presidential election in Brazil: Stagnant fertilizer market, with farmers holding off on purchasing decisions for the 2022/2023 harvests. 2.00% 0.00% After the presidential the election: The market remained stagnant due to concerns and uncertainty surrounding the new government policies.#50Summary of Interest-Bearing Loans and Borrowings Part 1: Lender Loan start date Purpose Grace period (months) Term (months) Loan value (R$'000) Balance at Dec 31, Repayable 2022 (C$'000) by Total interest payable* Brazil Dec, 2022 Brazil Dec, 2022 Itaú Dec, 2022 Working capital 6 Working capital Working capital 6 18 10,000 3,421 Dec, 2024 CDI (1) +4.10% 12 12 4,891 1,253 Dec, 2023 14.88% 6 7,800 1,983 May, 2023 15.96% Itaú Dec, 2022 Working capital 6 6 12,105 3,077 May, 2023 16.08% Brazil Oct, 2022 Working capital 12 48 20,000 7,988 Oct, 2027 CDI (1) +3.70% Votorantim Sep, 2022 Working capital 12 30 10,000 3,175 Mar, 2025 CDI (1) +5.10% Brazil Bradesco Sep, 2022 Working capital 6 24 5,000 1,482 Sep, 2024 CDI (1) +3.00% Aug, 2022 Equipment 6 24 5,597 1,665 Oct, 2024 IPCA (2) +5.19% ABC Brazil ABC Brazil Santander ABC Brazil Aug, 2022 Working capital 5 24 3,500 1,081 Sep, 2024 CDI (¹) +7,44% Aug, 2022 Working capital 6 24 1,500 462 Sep, 2024 CDI (1) +7,44% Aug, 2022 Working capital 3 24 12,000 3,149 Aug, 2024 CDI (¹) +4,85% Aug, 2022 Working capital 6 30 2,500 785 Mar, 2025 CDI (1) +7,44% 50 50 (1) CDI (Certificado de Depósito Interbancário) is the average of interbank overnight rates in Brazil. As at December 31, 2022, the 12 months cumulative rate was 12.43%. (2) Inc Variable interest (IPCA) - Broad Consumer Price Index, a measure of the average price needed to buy consumer goods and services. As at December 31, 2022 the 12 months cumulative rate was 5.90%. VERDE AGRITECH#5151 Summary of Interest-Bearing Loans and Borrowings Part 2: Lender Loan start date Purpose Grace period Term (months) (months) Loan value (R$'000) Balance at Dec 31, Repayable 2022 (C$'000) by Total interest payable* Brazil Aug, 2022 Working capital 6 18 5,000 BDMG Apr, 2022 Working capital 24 72 3,000 Santander Feb, 2022 Equipment 03 36 260 Santander Feb, 2022 Equipment 03 36 888 Santander Feb, 2022 Equipment 03 36 1,340 1,369 Aug, 2023 1,209 Mar, 2030 54 Feb, 2025 225 Feb, 2025 312 Feb, 2025 CDI (1) TJLP (3) +5,00% +3,00% CDI (1) + 4,60% CDI (1) + 4,60% CDI (1) +4,60% Santander Feb, 2022 Equipment 03 36 2,169 504 Jan, 2025 CDI (1) + 4,60% Santander Feb, 2022 Equipment 03 36 888 Brazil Jan, 2022 Working capital 06 36 5,000 Various loans pre 2022 Total 23,723 137,161 208 Jan, 2025 1,188 Dec, 2024 3,518 CDI (1) + 4,60% CDI (1) +2,92% 38,108 The Group's average current loan rates is 15.36% per annum. The Brazilian Government long term bond rate is currently 13.75% per annum. (1) - CDI (Certificado de Depósito Interbancário) is the average of interbank overnight rates in Brazil. As at December 31, 2022, the 12 months cumulative rate was 12.43%. (3) - TJLP (Taxa de Juros de Longo Prazo) is the long term interest rate in Brazil. As at December 31, 2022, the 12 months cumulative rate was 7.37%. VERDE AGRITECH#5252 52 Environmental Verde's production process is sustainable. The processing does not require tailings dams, nor does it generate any waste by products. In sum, the ore recovery rate is 100%. The mined area is mainly composed of degraded pasturelands that, once mined, Verde transforms into tropical forest. To that end, the Company planted 4,300 trees in 2019, 5,000 in 2020, 9,888 in 2021 and 10,341 in 2022, totaling over 29,500 trees. In 2023, Verde intends to plant 5,000 trees. All planted species are originally native to the region, many of which are today deemed endangered species. VERDE AGRITECH#5353 53 Potassium Chloride Replacement Potassium salt fertilizers are soil biodiversity's number 1 enemy. The average farmer applies 200 kg of potassium chloride to the soil per hectare per year. This is equivalent to the application of 1,600 litres of bleach as far as killing soil biodiversity.1 The world currently uses 61.5 million tonnes of potassium chloride for agriculture per year², the equivalent to more than 460 billion liters of bleach killing soil biodiversity yearly. Verde's Product eliminates the need for potassium chloride. Period In Q4 2022 Since production started Bleach equivalent amount that has not been applied to agricultural soils 157.5M litres 1.79B litres Over the next 36 years³, the Company intends to have prevented at least 957.8 billion liters of bleach from being applied to soils in the guise of potassium chloride. 1 Effects of Some Synthetic Fertilizers on the Soil Ecosystem (HEIDE HERMARY, 2007)/2 - FAOSTAT, Agricultural use of nutrient potash, 2018. http://www.fao.org/faostat/en/#data/RFN 3 Based on NI 43-101 Production Schedule. See Pre-Feasibility Technical Report Cerrado Verde Project, MG, Brazil, page 141. VERDE AGRITECH#5454 Cultivando Amor Project Cultivando Amor is an initiative from Verde, in which there is a partner charity institution for each of the project's member cities. For each hectare in the region that is cultivated with BAKSⓇ or K Forte®, Verde donates part of the sales' profits to the partner institution of that city. The initiative has the support of the cities' Rural Union of Farmers (Sindicato Dos Produtores Rurais). In 2022, Verde donated over R$262,900 to local charities in Brazil. ..... VERDE AGRITECH 54#5555 Earned Growth Rate Earned Growth Rate ("EGR") is an accounting-based methodology that provides companies with an objective, data-driven connection between customer success, repeat and expanded purchases, word-of-mouth recommendations, a positive company culture, and business results. It gauges customer loyalty through the lens of revenue growth, identifying which revenue streams come from existing customers doing more business with a company and which ones come from referrals. The EGR measures the sales growth by volume generated by returning customers and new client purchases made by existing clients' referrals.¹ Verde's EGR was 38.71% in 2022, which shows a positive rate of sales driven by returning customers and clients' referrals. Year Earned Growth Rate 2019 2020 2021 2022 Not Registered 61% 165% 38.71% 1 - For a summarized definition of EGR, see article: F. Reichheld, D. Darnell and M. Burns, Net Promoter 3.0, Harvard Business Review, November 2021, available at: https://hbr.org/2021/11/net-promoter-3-02 VERDE AGRITECH#5656 Number of clients per year The table below indicates the number of clients who purchased Verde's products annually in Brazil since 2017, along with their total cultivated area. The percentage of the clients' total purchase potential (in tonnes of Product) that was served by Verde increased from 9.57% in 2021 to 16.76% in 2022, demonstrating an increase in market adoption due to customers applying Verde's product in a larger area of their farms. Number of total clients Year 2018 2019 2020 2021 2022 127 351 847 1277 1223 Sales volume ('000 tonnes) 29 120 244 400 628 Total area cultivated by clients (million hectares) 1.09 1.99 2.01 3.03 2.93 Total purchase potential ('000 tonnes of K Forte) 1,629 2,882 2,825 4,179 3,747 Percentage of the clients' total purchase potential (in tonnes of Product) served by Verde 1.78% 4.16% 8.64% 9.57% 16.76% VERDE AGRITECH#57Permit Status - Last 12 months Mine Pit Date Category Status Event 2 November 12, 2022 Environment Applied 2 February 10, 2022 Mining Granted 22,500,000 Operating Environmental License 2,500,000 tpy Mining Concession 57 VERDE AGRITECH#5858 Permit Summary Under Brazilian law, a pit is fully permitted to mine when the Group holds both a Mining Concession/Permit and Environmental License for that area. With this latest Environmental License Application, Verde is now fully permitted to mine 2,833,000 tpy and has submitted concurrent mining and environmental applications for an additional 25,000,000 tpy, still pending approval. Mining (tpy) Environmental (tpy) Mine Pit Fully Permitted (tpy) Granted Pending Granted Pending 1 233,000 233,000 0 233,000 0 2 2,600,000 2,600,000 22,500,000 2,600,000 22,500,000 3 0 49,800 2,500,000 0 2,500,000 Total 2,833,000 2,882,800 25,000,000 2,833,000 25,000,000 The Company is fully permitted to achieve its 2023 targets. VERDE AGRITECH#5959 Verde's market size according to average KCI CFR Ports price K Forte® has 10% K₂O whereas KCl has 60% K₂O. Therefore, a farmer in Brazil pays 6 times less per tonne of K Forte® than it pays per tonne of KCl. Verde delivers K ForteⓇ to the farmers for the same price per tonne of K2O than KCl. Verde's freight costs increase as it sells its products further away from its production plants. The map and chart below show Verde's market size, highlighting the regions of Brazil where the Company can deliver K ForteⓇ for the same cost or at a lower cost per tonne of K₂O than KCl, according to the average KCI CFR Ports price. 1 KCI CFR Ports price (US$/t) Potential market for Verde (million tonnes of K ForteⓇ / KCl price) $100 9.11 ||9.11Mtpy $200 9.11 25.01 ]34.12Mtpy $300 9.11 25.01 $400 9.11 25.01 $500 9.11 25.01 21.45 |]55.57Mtpy 21.45 11.42 |] 67.00Mtpy 21.45 11.42 ] 69.67Mtpy 2.68 RR AP PA AM MA AC RO MT US$ 100 US$ 200 US$ 300 US$ 400 US$ 500 1 - The analysis is based on the following assumptions: Brazil's market size projected for 2023 = 7.02Mt of K2O, equivalent to 70.20Mt of K Forte® (10% K2O). 0.8% rate charged for brokerage and 0.17% rate charged for insurance rate, 25% rate charged for sea freight, US$25 (blender / dealer costs) + 12% (from KCl delivered to the blender) rate charged by blender/dealer, which includes taxes and profit margin (source Tec-Fértil). Diesel price = US$1.08. Currency exchange rate: US$1.00 = R$5.25. ForteⓇ weighted average freight cost based on the market size in tonnes of K20 for each region. K Forte® production cost per tonne (100kg of K2O) = US$10.17 (for 69.67Mtpy, 67.00Mtpy, and 55.57Mtpy markets), US$11.29 (for 34.12Mtpy market) and US$12.95 (for9.11Mtpy market), according to Verde's NI 43-101 Pre-Feasibility Technical Report Cerrado Verde Project at each production scenario (10Mtpy, 23 Mtpy and 50Mtpy). For further information, please refer to the PFS at: https://investor.verde.ag/wp-content/uploads/2022/05/NI-43-101-Pre-Feasibility-Technical-Report-for-the-Cerrado-Verde-Project.pdf Map Label ☐ Non-economic KCI CFR Brazil Ports Price US$ 100 US$ 200 US$ 300 US$ 400 US$ 500 Amazon Rainforest (predominantly) / non-economic VERDE AGRITECH MS RS PR SC TO GO DE SP CE RN PB PI PE AL SE BA MG ES#60Brazil's market size projected for 2023 The table below compares K ForteⓇ, potassium chloride and K₂O, based on their K2O amount and potential market size. 60 00 Potassium unit* K₂O grade K₂O 100% K Forte® 10% KCI 60% 1 Source: Tec-Fértil. Amount of K₂O per tonne of fertilizer Brazil's potential market size (million tonnes)¹ 1,000 kg 100kg 600kg VERDE AGRITECH 7.02 70.2 42.12#61Verde's margin according to average KCI CFR Ports price The table below compares Verde's and KC's prices delivered to the farmer and shows Verde's potential revenue at each case. KCI CFR Ports (US$ per tonne) KCl price per tonne delivered to the farmer (600kg of K20)(US$)1,2 263 K ForteⓇ production cost per tonne (100kg of K20)(US$)³ (+) K Forte® production cost per tonne x 6 (600kg of K20)(US$) (+) Freight cost to deliver 6 tonnes of K ForteⓇ to the farmer (600kg of K20)(US$)4 (=) K ForteⓇ delivered to the farmer (600kg of K20)(US$) Brazil's potential market size to be supplied by Verde (million tonnes of K ForteⓇ, 100kg of K2O) Potential revenue for Verde (million US$)5 Verde's margin (% of potential revenue)5 100 12.95 77.71 167 244 9 399 7% 200 378 11.29 67.72 238 306 34 2,150 19% 300 493 10.17 61.00 281 342 56 4,566 31% 400 608 10.17 61.00 313 374 67 6,789 38% 500 723 10.17 61.00 325 386 70 8,396 47% The table above is based on the following assumptions: Brazil's market size projected for 2023 = 7.02Mt of K2O, equivalent to 70.20Mt of K Forte® (10% K2O). Diesel price = US$1.08. Currency exchange rate: US$1.00 = R$5.25. 1 - Source: Acerto Limited Report, as of December 12, 2022. 2 - 0.8% rate charged for brokerage and 0.17% rate charged for insurance rate, 25% rate charged for sea freight, US$25 (blender / dealer costs) + 12% (from KCl delivered to the blender) rate charged by blender/dealer, which includes taxes and profit margin (source Tec-Fértil). 3 - Based on Verde's NI 43-101 Pre-Feasibility Technical Report Cerrado Verde Project, considering K Forte®'s potential market for each production scenario (10Mtpy, 23Mtpy and 50Mtpy). 4 - Weighted average freight cost based on the market size in tonnes of K20 for each region. The freight value variation is due to the different regions of Brazil where the Company can deliver K ForteⓇ for the same cost or at a lower cost per tonne of K₂O than KCI, according to the average KCI CFR Ports price (please refer to the map on previous slide). 5 - Verde's potential revenue was calculated based on KCI's price to be delivered to the farmer multiplied by KCI's potential market in K2O demand. Verde's margin was calculated as the deduction of the total costs to deliver 6 tonnes K ForteⓇ to the farmer (production + freight costs) for each potential market of K ForteⓇ from Verde's potential revenue. CORPORATE PRESENTATION - TSX: NPK | OTCMKTS: VNPKF со 19 61#6262 KCl CFR Ports delivered to the farmer The table below shows a breakdown of KCI CFR Ports price delivered to the farmer in Brazil. (+) (+) (+) (+) (+) KCl CFR Brazilian Ports Marine brokerage and (US$/t) insurance (US$) Demurrage and Storage (port costs) (US$/t) 1,2 Freight from the port to the blender (US$/t) 2,3 Blender/dealer's costs (US$/t) Blender/dealer's margin (US$/t) (+) (=) Freight from the blender to the farm (US$/t) KCl's price delievered to the farmer (US$/t) 100 1 51 35 25 22 29 263 200 300 23 2 52 35 25 35 29 378 53 53 36 25 47 29 493 400 4 54 37 25 59 29 608 500 5 55 38 25 72 29 723 The analysis is based on the following assumptions: 0.8% rate charged for brokerage and 0.17% rate charged for insurance rate, according to KCI CFR Ports price, 25% rate charged for sea freight, US$25 (blender / dealer costs) + 12% (from KCl delivered to the blender) rate charged by blender/dealer, which includes taxes and profit margin (source Tec-Fértil). Diesel price = US$1.08. Currency exchange rate: US$1.00 = R$5.25. 1 - Port costs weighted average include storage plus stevedorage and other related charges. 2 - Source: Acerto Limited Report, as of December 12, 2022. 3 - The variation in freight from the port to the blender is due to a 1% charge (from KCI CFR Ports price) regarding transportation losses and damages (source Tec-Fértil). VERDE AGRITECH#6363 со verde AGRITECH TSX: NPK | OTCMKTS: VNPKF investor.verde.ag