Brazil Potash (GRO) Investor presentation summary

Investment thesis and strategic positioning

• Nearly half of global potash supply comes from countries in conflict, highlighting supply risk.

• The deposit is strategically located for supply chain security and is expected to be the lowest-cost producer for Brazil, the world's largest import market.

• Project is shovel-ready with main permits secured and over $310 million in paid-in capital.

• Expected to generate significant cash flow for generations.

Market and financial overview

• Shares outstanding (fully diluted): 80.2M; market cap as of Jan 2026: $129M.

• No debt and $9M cash as of Sep 2025, with a $28M capital injection in Oct 2025.

• Peer EV/EBITDA multiples range from 8.5x to 10.7x.

Management and technical validation

• Leadership includes former CEO of Nutrien and executives with deep mining and agricultural experience.

• Franco-Nevada, a leading royalty company, has invested and holds a royalty option, validating project quality.