Brazil Potash Executive Chairman Mayo Schmidt and Leadership Team Met With Amazonas State Governor, Wilson Lima, Mayor Thomé Neto, and the Mura Indigenous Council to Discuss Advancement of Autazes Potash Project

• Strategic Discussion with Governor Lima Reinforces State-Level Support for Important Project to Brazil's Agricultural Security
  
  
• Productive Engagements with State, Municipal and Indigenous Leadership Demonstrate Broad Community Support for Autazes Potash Project Development
  
  
• Meeting Follows Recent Strategic Advancements Including Indigenous MOU and Second Major Offtake MOU
  
  

MANAUS, Brazil, Jan. 28, 2025 (GLOBE NEWSWIRE) -- Brazil Potash Corp. (“Brazil Potash” or the “Company”) (NYSE-American: GRO), a company developing and constructing the largest potash fertilizer project in Brazil, today announced that Executive Chairman Mayo Schmidt, along with CEO Matt Simpson and Directors Brett Lynch and Peter Tagliamonte, recently met with Amazonas State Governor, Wilson Lima, Autazes Mayor Thomé Neto, and Coordinator of the Mura Indigenous Council (CIM), Kleber Mura, and representatives of the Mura villages in the municipality of Autazes, state of Amazonas, responding to an invitation from the Mura people, to discuss the Company's progress in construction of its strategic Autazes Potash Project.

Governor Wilson Lima highlighted the Amazonas State Government’s commitment to promoting ‘Green Potash’ in Autazes (120 kilometers from Manaus), combined with social development and environmental conservation. “We are willing to provide full support for the implementation of the potash exploration project in Autazes. In addition to the economic aspect of making the state of Amazonas a powerhouse in fertilizer production, our main objective is to promote social development, generating jobs, ensuring environmental preservation and dialoguing with the indigenous people.”

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“Our meeting with Governor Lima, Mayor Thomé Neto, and the Mura Indigenous Council reinforces the strategic importance of the Autazes Potash Project to both Brazil's agricultural sector and global food security,” said Mayo Schmidt, Executive Chairman of Brazil Potash.  “Having spent decades building world-class agricultural businesses, including my roles as Chairman and CEO of Nutrien and CEO of Viterra, I see tremendous potential in Brazil Potash's ability to establish a crucial domestic supply of potash for Brazil's agricultural sector and reduce reliance on foreign imports. With our recent achievements, including securing water extraction permits, a second major offtake MOU, and advancing our partnerships with local indigenous communities, we are well-positioned to advance construction of this strategic asset for Brazil's agricultural sector.”

“We appreciate the continued support from state and municipal government, and the excellent relationship we have developed with the Mura Indigenous Council as we advance construction of what we believe will be Brazil's premier domestic potash operation,” said Matt Simpson, CEO of Brazil Potash. And he added “After the conclusion of the Prior Consultation, which strictly followed the Mura Consultation Protocol, developed based on ILO Convention 169, our relationship with the Mura people was established in a positive and constructive way. This dialogue resulted in the signing of a Preliminary Agreement of Cooperation, which reaffirms Brazil Potash's commitment to respecting the culture, rights and development of the indigenous communities involved.”

“Our strategic location in Amazonas state positions us to become the lowest-cost supplier to Brazilian farmers while creating significant local economic benefits through job creation and development of supporting infrastructure,” Mr. Simpson completed.

The Brazil Potash delegation's agenda in Manaus and Autazes, state of Amazonas, was coordinated by the president of our subsidiary in Brazil, Potássio do Brasil Ltda., Adriano Espeschit, who led the Company's leadership team on meetings with local investors and visits to potential service providers who could contribute to the progress of the Autazes Potash Project. In addition, currently ongoing conversations with groups regarding the funding for construction of the power line that will support the Project were advanced.

In Autazes, the delegation flew over the area where the Autazes Potash Project is being built and visited Casa da Luz da Infância — a non-profit entity that carries out very impactful social assistance work focused on supporting the development of underprivileged children in the municipality; Potássio do Brasil Ltda. has provided funding support to this agency since 2014.

About Brazil Potash

Brazil Potash (NYSE-American: GRO) () is developing Brazil’s largest potash project that will supply sustainable fertilizers to one of the world’s largest agricultural exporters. Brazil is critical for global food security as the country has amongst the highest amounts of fresh water, arable land, and an ideal climate for year-round crop growth, but is vulnerable as it imported over 95% of its potash fertilizer in 2021, despite having what is anticipated to be one of the world’s largest undeveloped potash basins in its own backyard. The potash produced will be transported primarily using low-cost river barges on an inland river system in partnership with Amaggi (), one of the largest farmers and logistical operators of agricultural products in Brazil. With initial planned annual potash production of up to 2.4 million tons per year, Brazil Potash’s management believes it could potentially supply approximately 20% of the current potash demand in Brazil. Management anticipates 100% of Brazil Potash’s production will be sold domestically to reduce Brazil’s reliance on potash imports while concurrently mitigating approximately 1.4 million tons per year of GHG emissions.

Cautionary Note Regarding Forward-Looking Statements

This press release includes forward-looking statements, which are statements that are not historical facts. Words such as “expects”, “anticipates”, “believes” and “intends” or similar expressions are intended to identify forward-looking statements. Such forward-looking statements, including statements relating to potential outcomes following meetings with Brazilian government officials and the indigenous community representatives, are subject to risks and uncertainties, many of which are beyond the control of the Company, including those described in the “Risk Factors” section of the Company’s registration statement on Form F-1, as amended, filed with the SEC in connection with the IPO, and the supplemented PREP prospectus filed in each of the provinces and territories of Canada, other than Québec. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based, unless required by law.

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