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EXTRACT | NOURISH | FLOURISH

2020

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All statements, other than statements of historical fact, contained in this presentation constitute “forward-looking statements” and are based on the reasonable

expectations, estimates and projections of Brazil Potash Corp. (the “Company”) and the Company’s managers as of the date of this presentation. The words

“plans,” “expects,” or “does not expect,” “is expected,” “budget,” “scheduled,” “estimates,” “forecasts,” “intends,” “anticipates,” or “does not anticipate,” or

“believes,” or variations of such words and phrases or statements that certain actions, events or results “may,” “could,” “would,” “might,” or “will be taken,”

“occur” or “be achieved” and similar expressions identify forward-looking statements. Forward-looking statements include, without limitation, statements

regarding mineral resource estimates, bankable feasibility study projections, strategic transactions and financing sources, the growth of the potash market,

expected industry demands, the Company’s business strategy, projected capital and operating expenditures, currency fluctuations, government regulation and

environmental regulation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable

by the Company as of the date of such statements, are inherently subject to significant business, economic and competitive uncertainties and contingencies.

The estimates and assumptions contained in this presentation, which may prove to be incorrect, include, but are not limited to, the various assumptions of the

Company set forth herein. Known and unknown factors could cause the actual results to differ materially from those projected in the forward-looking

statements. Such factors include, but are not limited to, fluctuations in the supply and demand for potash, changes in competitive pressures, including pricing

pressures, timing and amount of capital expenditures, changes in capital markets and corresponding effects on the Company’s investments, changes in

currency and exchange rates, unexpected geological or environmental conditions, changes in and the effects of, government legislation, applicable regulations,

taxation, controls and regulations and political or economic developments in jurisdictions in which the Company carries on its business or expects to do

business, success in retaining or recruiting officers and directors for the future success of the Company’s business, officers and directors allocating their time to

other ventures; success in obtaining any required additional financing to make target acquisition or develop an acquired business; employee relations,

community relations and risks associated with obtaining any necessary licenses or permits. Many of these uncertainties and contingencies can affect the

company’s actual results and could cause actual results to differ materially from those expressed or implied in any forward-looking statements made by, or on

behalf of, the Company. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ

materially from those anticipated in such statements. All of the forward-looking statements made in this presentation are qualified by these cautionary

statements. These factors are not intended to represent a complete list of the factors that could affect the Company. The Company disclaims any intention or

obligation to update or revise any forward-looking statements, except to the extent required by applicable law or regulation. The reader is cautioned not to

place undue reliance on forward-looking statements.

ABSOLUTELY NO COMMUNICATIONS FOUND ON https://www.potassiodobrasil.com.br/, OR ANY OF THE COMPANY’S SOCIAL MEDIA, CONSTITUTE

OR ARE MEANT TO CONSTITUTE AN OFFER OR SOLICITATION TO SELL SECURITIES, ADVERTISING, CONDITIONING THE MARKET, OR SELLING

EFFORTS OF ANY KIND. ANY OFFERING IN THE FUTURE, IF EVER MADE, FOR FUTURE SALES OF SECURITIES MAY BE MADE ONLY BY

DELIVERY OF A SECURITIES AND EXCHANGE COMMISSION FORM 1-A OFFERING CIRCULAR DISCLOSURE DOCUMENT OR OTHER QUALIFIED

DISCLOSURE DOCUMENT CONTAINING DISCLOSURES AND A SUMMARY OF RISKS. NO STATEMENTS IN THIS PRESENTATION, ON THE WEB

SITE, https://www.potassiodobrasil.com.br/ OR SOCIAL MEDIA SHALL BE INCORPORATED BY REFERENCE INTO SUCH DISCLOSURE DOCUMENT.

This presentation includes a summary of a bankable feasibility study (“BFS”). The BFS was authored by Stanislaw Kotowski, Darrell Hladun and Ralf John

Dickson of WorleyParsons, who are independent qualified persons within the meaning of NI 43-101 of the Canadian Securities Administrators. There is no

certainty that the BFS results will be realized. David Gower, an Officer of the Company and a qualified person under NI 43-101, has reviewed the scientific

and technical information herein.

Cautionary Note Regarding Forward Looking Statements

− Lowest all-in delivered cost to

Brazil

− Cost to mine, process and

deliver equivalent to importers

delivery costs alone

− Brazil is one of the world’s largest exporters of agricultural products

− World’s second largest and highest growth rate market for potash but

imports 94% of its needs 14,000 to 20,000km from mines

− Project located only 8km from major river flowing to farm region

− Brazil’s potash basin estimated to be ~2/3 the size of Saskatchewan

and ~2x Russian Ural potash basin

− Proven and probable reserves support 34 year mine life based on

drilling only 10% of the land potentially mineralized

− Potash is an essential

nutrient to grow food with

no substitute

− Highest value mainstream

fertilizer

Brazil

Location

Robust

Economics

Essential

Product

Massive

Scale

Compelling Food Security Investment OpportunityFour key components make Brazil Potash a one of a kind asset

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Brazil is a Rapidly Growing Agricultural Powerhouse BUT Imports ~94% of its Potash Need

• Brazil is one of the world’s largest net exporters of agricultural products

• Agribusiness currently represents ~24% of Brazil’s GDP and has significant growth potential with GAGR estimated at 4.4%2

• Brazil is the second highest consumer of potash globally at 10.2Mtpa (16% of global production) with CAGR of 3.5%2

Availability of Arable Land

79

188 132

170

96 103 47 24

224

81

87

42 16

36

303

269

219

170

138 119

83

24

0

100

200

300

400

Brazil USA Russia India China EU AustraliaThailand

Hecta

res (

mill

ion

)

Land in use Available land

3.8x Growth Potential

Crop Production(1) Exports(1) % of Global

Exports

Orange Juice 77%

Sugar 45%

Soybeans 39%

Poultry 34%

Coffee 29%

Meat 22%

Source: United Nations (UN) World Population Prospects

(1) Source: United States Department of Agriculture

(2) Source: Integer Research, March 2018

Brazil’s production of food products

KCl Consumption by Country (Kt)2

10,162

9,838

4,585

3202

853930626

20,24715,400

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Substantial and Sustainable Logistics Cost Advantage Also Results in GHG Emission Reductions

• Imported potash primarily from Canada and Russia travels 14,000 to 20,000 kilometers by rail, boat and then truck to reach Brazilian fertilizer blenders

• By being located in Brazil only 8km from major river system, logistics cost savings of ~US$129 / tonne and GHG emission reduction of ~508kt/yr CO2eq relative to Canadian and Russian producers

Source: Integer Research (Sep 2018)

(a) Sea Freight US$25 / tonne+ Port & Handling Expenses US$33 / tonne

(b) Freight Costs US$89 / tonne from Paranagua Port to Rondonópolis

∆ US$129 / tonne

Primary Global Potash Routes

Freight at Origin US$35 / tonne

Sea Freight US$58 / tonne(a)

Inland Freight US$89 / tonne(b)

Canpotex US$182 / tonne

Inland Freight US$53 / tonne

BPC US$53 / tonne

Primary

KCl Market 8Mtpa+

Secondary

KCl Market 1Mtpa+

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Low Cost Water Transportation Access to Farmers

• Product transportation by water is the lowest cost means

- Rail tends to be >2.5x

- Trucking typically >10x

• Strategic location close to farmingregions of Brazil

- Largest soybean producing areas, major consumers of potash

- Nearly 50% of total agricultural production in Brazil

• Experiencing significant agriculture expansion with large and undeveloped rural properties

• Potential to achieve even higher agricultural yields through better use of fertilizers

Main Fertilizer Ports

Fertilizer Bulk Blender

Waterways

Cerrado Region

São Luiz

Manaus

Brasilia

Belo Horizonte

Rio de Janeiro

Sao Paulo

Autazes Creates Significant Employment and Positive Social Impacts

◼ Remove thousands of people from diesel generated power by connecting to Brazil’s national electricity grid –~75% hydro1

◼ Sustainable jobs for the people in the Amazon

◼ 1,500 direct construction jobs and 1,200 direct jobs during several decades of operation

◼ Potash supply facilitates the reuse of existing arable land –mitigating deforestation

◼ Unnecessary international transport of potash saves ~508kTpa of GHG emissions

◼ Dry stacked tailings are ultimately disposed underground resulting in no legacy footprint

◼ Investing in local school programs that ensure ~170 children learn core skills such as growing vegetables and school tutoring

7(1) Source: www.hydropower.org

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Private Company with Strong Stakeholder Support

Share Capital: Shares Outstanding, Basic 130 million

Warrants, Options & DSUs 40 million

Shares Outstanding, Fully-Diluted 170 million

Brazil & International Major Shareholders

Strong Government & Community Support

• Government keen to reduce Brazil’s dependence on imported potash & improve living standards

• Significant tax breaks in State of Amazonas to encourage development

• Local communities highly engaged & supportive

• Brazil Potash funds pre/post school program that supports underprivileged ~140 children

Senior Management

Previous Experience

Matt Simpson

CEO

Marcos Pedrini

Vice President,

Potash Sales

Stan Bharti

Executive Chairman

Guilherme Jacome

Director Brazil,

Project Director

• Previously served as General Manager at Rio Tinto's Iron Ore Company of Canada managing over $300 million / year spend, accountable for all operations, maintenance and technical people to safely move > 70 mtpa

• Previously worked with Hatch Consulting, designing and constructing metallurgical refineries globally

• Over 35 years of extensive hands-on experience selling and arranging delivery of Potash in Brazil

• Previously worked with Vale, where he retired as General Manager of Agriculture Sales

• Founder of Forbes & Manhattan; over 30 years of experience in mining, agriculture, energy, finance and technology

• Experienced in emerging markets, with a proven track record in leveraging top tier management and operational professionals

• Invested and raised $10 billion+ over the last 10 years

• Engineer, MBA FDC (Brazil) and MBA IMD (Switzerland)

• Former General Manager of global projects for Vale

• Experience includes greenfield, brownfield and expansion of Brazil underground Potash Mine

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Skilled Management Team with Mine Construction,

Operations and Potash Sales Experience

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Feasibility Study Reinforces Compelling Economics

Potash (KCl) Production: 2.4 Mtpa

Initial Capital Investment to achieve full production:

(Pre-tax)

(After-tax)

(Capital intensity)

US$1.9 billion

US$2.1 billion

US$778 / tonne

OPEX – FOB Port Average Over Mine Life: (Freight On Board = includes mining, processing & barge loading)

US$80 / tonne KCl

Potash Long-Term CFR Brazil Benchmark Price Forecast:

Brazil Potash Estimated Realized Price (FOB Port):

$334 / tonne

$399 / tonne

EBITDA: US$718 million

Estimated Reserve Mine Life: 34 years

Ramp-up Period to Reach Full Production: 3 years

1. Feasibility study completed April 2016 by WorleyParsons.

Marketing study updated in August 2018 by Integer Research.

Mine: Underground 8.5 Mtpa ROM

Plant: Production 2.4 Mtpa Granular Potash

$964

$718

$415

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Profitable Across a Range of Potash Prices

Projected Annual EBITDA and Breakeven

Downside Case(1)

CFR Brazil

US$230/t KCl

Base Case(2)

CFR Brazil

US$334/t KCl

Upside Case(3)

CFR Brazil

US$500/t KCl

(1) Downside Case based on 10-year low CFR Brazil KCl price for life of mine

(2) Base Case based on Integer Research CFR Brazil KCl forecast prices

(3) Upside Case based on US$500/t CFR Brazil KCl prices for life of mine

(4) Financial projections, forecasts or forward-looking statements are based on assumptions or expectations which are believed by management to be fair and

reasonable at the time they were prepared and were arrived at after careful consideration. Readers are cautioned that such financial projections, forecasts or

forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and contingencies, many of which

are beyond management’s control. There are a number of factors that could affect the future operations of Brazil Potash including without limitation: changes in

demand, industry competition, legislative, fiscal and regulatory developments, economic and financial market conditions including but not limited to the current

COVID-19 global pandemic. These factors and risks could cause actual results, performance or events to differ materially from those expressed or implied by

the financial projections, forecasts or forward-looking statements available on this website.

(US$mm)

• Producing potash companies valued at 8 to 10x EBITDA

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Global Potash COGS

• Brazil Potash average operating cost at full run-rate production estimated to be ~US$80 / tonne FOB Autazes Port

• Imported potash is typically sold CFR Brazil ports and a further ~US$31 / tonne is spent on inland freight

Source: Clarksons Platou Securities Inc.

Run Rate Average Operating Costs

Unit US$M / year US$ / tonne FOBMining 57 25Surface Facilities 112 48Transportation 9 4G&A 7.5 3Total $185 $80

By Far the Lowest Delivered Cost to Brazil

~70% of producers losing money at $240/T

Brazil Potash Near Construction Ready

Dec 2009

Start ofMineral

Research

2010/2013

Jul/2015

Autazes ore body discovery and further drilling

2013/2014

EIA & PEA completed

Jan/2015

EIA submittedfor Gov

Approval

Preliminary License issued

IndigenousConsultations

Initiated

2016

FeasibilityStudy

completed

Jul/2019

InstallationLicense

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Start ofConstruction

• Substantial number of the required to obtain the Installation License required to start construction have been completed and approved

• Major outstanding item is completion of additional indigenous consultations which are currently ongoing

High quality management team with extensive Brazil experience

Compelling project economics from Phase I and ability to increase future production

Autazes delivers strong social and environmental benefits including ~508kT Green House Gas Emission savings

Multi-generational operation potential given basin size

Autazes benefits from a structural and sustainable cost advantage

Brazil is the world’s second largest and highest growth market for potash but imports 94% of its needs

Brazil is one of the largest global seaborne agricultural producers and this project will supply 25% of the country’s potash needs

Rare Opportunity to Invest in Sustainable Global Seaborne Agricultural Supply with Generational Potential

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For more informationcontato@potassiodobrasil.com.br

Toronto Main Office: +1416309213865 Queen Street WestSuite 805, P.O. Box 71Toronto, ON CanadaM5H 2M5

Brazil Headquarters: +5592991736863 R. Rio Iça, 310Sala 105, N. Sra. GraçasManaus / AM Brazil69053-100

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