Nutrien Earnings and Growth Outlook

Focused on delivering strong earnings, cash flow and returns through the cycle Adjusted EBITDA, Net Earnings US$ Billions Net Earnings Per Share (EPS)³ US$ per Share Net Earnings Adjusted EBITDA1 $12.2 $7.1 $7.7 $5.8 - $6.4 $3.7 $3.2 $0.5 2020 2021 2022 Cash Provided by Operating Activities US$ Billions $3.9 $3.3 $8.1 EPS Adjusted EPS1 $14.18 $13.19 $6.23 $5.52 $1.80 $0.81 2023F2 2020 2021 2022 Return on Invested Capital ("ROIC")1 Percent $4.0 - $4.5 5% 15% 26% $4.15 - $5.00 2023F2 8% - 10% 2020 2021 2022 2023F4,5 2020 2021 2022 2023F4 12345 1. These are non-IFRS financial measures. See the "Non-IFRS Financial Measures" section. 2. Based on guidance provided in our news release dated November 1, 2023. Calculations based on diluted per share amounts. Based on internal forecasts aligned with annual guidance provided in our news release dated November 1, 2023. 5. Assumes cash provided by operating activities is ~70% of Adjusted EBITDA which is based on the adjusted EBITDA guidance range provided in our news release dated November 1, 2023. 6

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