Nutrien Earnings and Growth Outlook

Balanced approach to capital allocation through the cycle 2023 Capital Allocation US$ Billions Historical Capital Allocation (2018-2022) Percent Dividends Paid Sustaining, Mine Development & Pre-Stripping ~$0.4B Lease Payments¹ 20% Expenditures Completed Acquisitions³ 24% $4.0B - $4.5B ~$1.0B Investing Capital1 2023 Scenario: Cash Provided by Operating Activities 1,2 ~$1.7B Sustaining, Mine Development & Pre-Stripping1 11% Investing Expenditures $1.0B Share Repurchases³ 37% 8% Share Acquisitions Repurchases ~$1.0B Dividends Paid 4 Planned Uses of Cash 1. 2. Based on internal forecasts aligned with annual guidance provided in our news release dated November 1, 2023. 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. 4. 3. Year to date as of September 30, 2023. Assumes four regular dividend payments in the calendar year and 497 million shares outstanding. 11

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