A World-Class Investment in Food Security

An Asset of Global Food Security Significance Located in Brazil 1 2 BRAZIL POTASH 4 5 M 3: Strong fundamentals for potash global market ■ ■ Long-term demand driven by population growth, increasing caloric consumption, finite amount of land, and nutrient depletion in soils Concentrated supply-side with strong price support and upside potential due to Russia/Belarus issues Brazil is a potash import-dependent market with enormous growing demand Brazil is the largest net exporter of agricultural products & food¹ Brazil has the largest amount of arable land, freshwater and exports >$110 billion² per year of agricultural goods Strong government support to realize project evidenced by release of Brazil's National Fertilizer Plan Unique multi-generational investment opportunity in food security Plan to produce 2.2 million tonnes/year for 23 years³ based on exploration of only 5% of the potential resource Lowest cost position of this essential element due to ore body proximity to Brazilian farmers Near construction-ready with feasibility study, environmental impact assessment, & several permits completed Management and sponsors with proven track record Experienced results-oriented management team to deliver project – former Nutrien, Rio Tinto, Vale, Shell Experienced natural-resource focused investor base Local relationships with some of the largest domestic Brazilian agribusinesses Leading Environmental, Social & Governance (ESG) Profile ■ ~79% Lower Scope 1 (plant) & 2 (energy) Greenhouse Gas (GHG) emissions as compared to potash from Canada ■ One of the first companies in Brazil to conduct Indigenous consultations according to ILO 169 Obtained MSCI ESG rating of "A" which is top quartile Source: Brazilian Confederation of Agriculture and Livestock (CNA) 2021; Notes: (1) As defined by nominal value of exports minus imports in 2019 (2) Brazilian Secretariat of Foreign Trade (SECEX), 2022 (3) Potential to increase to 34 years pending Federal Congressional Approval as additional resource would be on indigenous lands BRAZIL 3 POTASH

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