Delivering Value through Organic and Tuck-in Growth
Capital Allocation Priorities and Actions
N
N/
6
Nutrien has a proven track record of value generation and efficient capital allocation. Our capital allocation policy
prioritizes safe and reliable operations, a strong balance sheet, growing our business and strong returns to shareholders
through a sustainable dividend and share repurchases
✓
Safe and Reliable Operations
III
Strong Balance Sheet
ㅁ
2021 Actions
$1.2B catching up on sustaining projects that
were deferred in 2020 by COVID-19 restrictions
Creating
Long-term
Value
Through
Disciplined
Capital
Allocation
1.
N.A. peer group includes MOS, CF, CTVA, FMC, ADM, BG, AGCO, DE and INGR.
Value Creation Through High
Return Growth Opportunities
III
Return Capital to Shareholders
ㅁㅁ
ப
☐
ㅁ
$2.1B de-levering in December 2021
Target investment grade rating through the cycle
Target < 3.0x Net-debt/EBITDA through the cycle
$300M of announced transactions in Brazil
from 2020-2021
$260M of phase 2 brownfield nitrogen projects
approved and started in 2021
Highest dividend yield compared to N.A. peers1
through 2021
15.0M shares repurchased in 2021
$2.1B returned to shareholders through
dividends and share repurchases
March 2022
Source: NutrienView entire presentation