Brazil Potash Company Ownership

AMAZONAS, BRAZIL, November 29, 2023 – Some media publications have recently asked who owns Brazil Potash Corp. (“Brazil Potash” or the “Company”) for potential inclusion in their articles. Brazil Potash is owned by over 7000 shareholders mainly located in the United States, United Kingdom, Australia, Canada and Brazil.

Brazil Potash’s largest shareholder, CD Capital, is a natural resource focused private equity fund backed by a broad range of institutional investors including some of the largest endowments and foundations. The second largest shareholder, Sentient Equity Partners, is also a natural resource focused private equity fund backed by institutional investors including large sovereign wealth funds. Forbes & Manhattan Barbados is owned by the Bharti Family Trust and includes personal family investments from one of the founders of Brazil Potash who also founded and is the Chairman of Forbes & Manhattan Inc. which develops natural resource projects globally. There is substantial Brazilian ownership of the project largely by families located in the Amazonas State of Brazil where the project is based, and a large number of institutional and retail investors predominately located in the United States of America.

A breakdown of the largest shareholders along with their ownership position is shown in the following table:

For more information, please contact:
Brazil Potash Investor Relations

Cautionary Note Regarding Forward-Looking Statements

All statements, other than statements of historical fact, contained in this shareholder update constitute “forward-looking statements” and are based on the reasonable expectations, estimates and projections of the Company as of the date of this letter. 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 the Mura’s consultation process; the steps necessary to complete the licensing process for the Project; the potential benefits to the Mura people from the Project; government support of the Company and its project; population growth and Brazil’s natural resources, the importation of potash in Brazil, the growth of the potash market and price expectations, the indigenous consultation process, completion of the ECI, studies and assessments, the receipt of the installation licence and conditions precedent thereto, advancing construction financing, offtake agreements, raising capital, completing a strategic transaction with a third party, environmental or community benefits, expected industry demands, the Company’s business strategy, the Company’s forecast of annual production and sales of potash, appointment of directors, 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 letter, 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 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, taxation, environmental regulations, 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 the Autazes project; employee and 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 letter 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. The reader is cautioned not to place undue reliance on forward-looking statements.

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