An early-stage Nutrien or Mosaic, currently developing its first potash mine specifically for the Brazilian market.

Like the initial project development phase of a major mining company such as Vale or BHP, but focused exclusively on bringing a potash mine in Brazil into production.

• Potash: Brazil Potash plans to extract, process, and sell potash, a potassium-rich salt primarily used as a fertilizer, once its Autazes Project commences operations.

Based on the provided company description, Brazil Potash (GRO) is currently in the pre-revenue development stage and has not yet commenced any mining operations. Therefore, the company does not currently have any customers, major or otherwise.

Once operations commence, the company's activities will focus on "selling and distributing the processed potash in Brazil." Potash is primarily used as a fertilizer in agriculture. Given this, their future major customers would likely be:

1. Agricultural input distributors and wholesalers in Brazil.
2. Large-scale farming cooperatives or direct agricultural enterprises in Brazil.
3. Other industrial users requiring potash, though agriculture is the primary market.

Matthew Simpson, Chief Executive Officer

Mr. Simpson has served as Chief Executive Officer and a director of Brazil Potash Corp. since October 2014. He also holds the position of Chief Executive Officer and a director of Black Iron, Inc., an iron ore exploration and development company, since October 2010. Prior to joining Brazil Potash, Mr. Simpson worked for the Iron Ore Company of Canada (IOC), a subsidiary of Rio Tinto plc and Mitsubishi Corp, from 2002 to 2010, where he held various roles including Mine General Manager. Before his time at IOC, he was a process engineer at Hatch Ltd. Mr. Simpson is also the Chief Executive Officer of Forbes & Manhattan, Inc., a private company. He holds a Bachelor of Science degree in Chemical Engineering and a Master of Business Administration degree from Queen's University.

Ryan Ptolemy, Chief Financial Officer

Mr. Ptolemy has served as Brazil Potash Corp.'s Chief Financial Officer since July 2011. He is a Chartered Professional Accountant, Certified General Accountant, and CFA charter holder. Mr. Ptolemy is also the Chief Financial Officer for several other Toronto Stock Exchange and Cboe Canada listed public companies within the Forbes & Manhattan, Inc. group, including Aberdeen International Inc., Belo Sun Mining Corp., and DeFi Technologies Inc. He previously served as Chief Financial Officer for EV Technology Group Ltd. (November 2020 to March 2024) and Sulliden Mining Capital Inc. (June 2020 to January 2024). Mr. Ptolemy holds a Bachelor of Arts degree from Western University.

Mayo Schmidt, Executive Chairman

Mr. Schmidt was appointed Executive Chairman of the board of directors in January 2025. He previously served as Chairman and transitional President and Chief Executive Officer of Nutrien Ltd., a global fertilizer manufacturer, from February 2013 to December 2021. Mr. Schmidt was instrumental in the merger of Agrium Inc. and PotashCorp. to form Nutrien. He also served as the President, Chief Executive Officer, and Director of Viterra Inc., which he grew significantly through 24 acquisitions across 14 countries. Earlier in his career, he held senior management positions at Fortune 100 companies such as General Mills, Inc. and ConAgra, Inc.

Sergio Leite, President, Potássio do Brasil Ltda.

Mr. Leite was appointed President of Potássio do Brasil Ltda., Brazil Potash's wholly-owned Brazilian subsidiary, on December 2, 2025. He brings approximately 40 years of executive experience in successfully delivering large-scale steel plants, mining, and infrastructure projects, having raised billions in capital through negotiations with key stakeholders in Brazil and abroad. As Chief Executive Officer of Companhia Siderúrgica do Pecém, a joint venture, he led a team that negotiated a US$2.9 billion loan contract. His extensive experience also includes senior roles at Vale S.A., such as Operational Director and CEO of Vale Oman.

Helio Diniz, Founder (former Managing Director)

Mr. Diniz is one of the founders of Brazil Potash and served for several years as Managing Director. He possesses over 40 years of experience in exploration and mining activities. Mr. Diniz began his career with GENCOR South Africa, where he was involved in the evaluation and development of the Sao Bento gold mine in Brazil. He later joined Noranda Mining as country manager Brazil and, following a merger, his team discovered the Araguaia Nickel Deposit. He then worked for Xstrata (now Glencore) as Managing Director Brazil, and in 2007, he joined Forbes & Manhattan Inc. to establish several companies, including Brazil Potash. Currently, he is the founder, President, and Director of Lithium Ionic.

Escalating legal and social opposition from indigenous communities and environmental groups in the Amazon, posing an existential threat to securing the necessary environmental licenses for the Autazes Project.

The addressable market for Brazil Potash's main product, potash, is significant, particularly within Brazil, which is a major consumer and importer of the essential fertilizer.

For the region of Brazil:

• The potash market in Brazil generated an estimated revenue of USD 3,380.8 million in 2024. This market is projected to grow to USD 4,936.0 million by 2032, demonstrating a Compound Annual Growth Rate (CAGR) of 5% from 2025 to 2032.
• Brazil is the world's second-largest consumer of potash and the largest importer, relying on imports for over 95% of its potassium chloride (KCl) demand.
• Brazil's annual potash consumption is approximately 13.8 million metric tons (MMT), with demand increasing by nearly 7% each year.
• In 2024, Brazil accounted for 5.4% of the global potash market by revenue.

For the global market:

• The global potash market size was estimated at USD 62,374.0 million in 2024 and is expected to reach USD 93,501.2 million in 2032, with a CAGR of 5.3% from 2025 to 2032.
• Another estimate places the global potash market size at USD 66.11 billion in 2025, with a projection to reach USD 106.09 billion by 2035, growing at a CAGR of 4.84% from 2026 to 2035.
• The primary use of potash, approximately 95%, is in fertilizers to support plant growth.

Share Issuance

• Brazil Potash's net financing for fiscal year 2024 was $31.61 million, reflecting a significant year-on-year increase of 1165.66%.
• The company has raised additional capital to support its operations and development activities.
• As of March 13, 2026, the company has 53.37 million shares outstanding.

Inbound Investments

• Brazil Potash mandated BTIG to lead project-level equity financing for the construction of the Autazes Project as of November 2025, with a goal to minimize dilution to shareholders.
• Institutional ownership in Brazil Potash increased by $16.92 million to $20.47 million between Q4 2024 and Q4 2025, with institutional ownership percentage rising by 8.19% to 26.0% during the same period.

Capital Expenditures

• Capital expenditures for Brazil Potash in the last 12 months amounted to -$7.45 million.
• The primary focus of capital expenditures is on the development and construction of the Autazes Project, including securing environmental licenses.
• The company anticipates requiring up to $1.8 billion to construct the Amazon mine.