Nutrien Earnings and Growth Outlook

Strategic priorities focused on maximizing shareholder value Enhancing Margins & Asset Efficiency ➤ Investing in Retail proprietary products production capability, network optimization and digital initiatives Increasing Potash productivity through automation mining capabilities Improving Nitrogen utilization through reliability and energy efficiency projects 1. III ES Delivering Growth from Existing Asset Base ➤ Increasing Retail earnings through margin normalization and organic growth initiatives ~2Mmt¹ of Potash sales volume growth potential from existing operational capability ~1.4Mmt¹ of Nitrogen sales volume growth potential from brownfield projects and higher utilization rates Maintaining a Balanced Approach to Capital Allocation ➤ Sustaining our world-class assets ➤ Providing shareholders with a stable and growing dividend Completing opportunistic share repurchases and highly targeted investment projects Incremental sales volume potential based on top of mid-cycle sales volume scenario for Potash and Nitrogen relative to 2023F midpoint of guidance as of November 1, 2023. . . . 7

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