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Investor Presentaiton

Verde 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
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