• This installation license permits construction of the potash processing plant
• This license is in addition to prior licenses granted for mine and port construction

AMAZONAS, BRAZIL, June 12, 2024 – Brazil Potash Corp. (“Brazil Potash” or the “Company”) is pleased t report its 100% owned Brazilian subsidiary, Potássio do Brasil Ltda., received yesterday (06/11) the processing plant Installation License allowing for construction of the potash processing plant to proceed at its Autazes potash project (the “Project”). In total, 12 Installation Licenses and Authorizations including, most importantly, the mine, processing plant and port have been issued by the Amazon state licensing agency, the Institute for Environmental Protection of Amazonas (IPAAM), allowing for construction to commence at the Project.

The potash ore processing plant will be installed in an area traditionally occupied by cattle pastures, given that the municipality of Autazes is known as the “Land of Milk”, having dairy and beef cattle as one of the main bases of its economy. Following the delivery of the first Installation Licenses, some construction has already been started, such as the completion of the drilling of the first water well and the beginning of the execution of the second water well, both for the collection of drinking water each about 130 meters deep. This work was completed near the village of Urucurituba, Autazes, and it benefited the community through use of local lodging and food service providers, fostering the local economy.

The Licenses and Authorizations issued by IPAAM authorize Potássio do Brasil Ltda. to carry out vegetation suppression activities, archaeology services, rescue and handling of local fauna, earthworks as part of the construction of the mine, processing plant and port.

Upon completion of construction of the Project, and subject to government inspection to ensure everything has been built safe and in compliance with Brazilian codes, management anticipates the Operating License will be granted, which will allow for the extraction and processing of potash ore, an operation currently expected to last for at least 23 years.

“Potássio do Brasil strictly complies with all criteria described in our licensing documents. As construction work progresses, opportunities are also emerging for the communities of Autazes and the surrounding region. We have already started hiring people for construction and indirect jobs are beginning to emerge through a network of service providers and suppliers that are helping us in this phase of implementation. Construction of the Project we believe will contribute to regional and national development and to food security for Brazil and the world”, says Adriano Espeschit, president of Potássio do Brasil.

Mura Living Well Plan

Implementation of the Project in partnership with the Mura indigenous community, particularly those who live 8km away from the Project, has been advancing with the Company’s representatives in coordination with community leaders building a relationship that is reflected in benefits for the indigenous communities. Because of this relationship, Potássio do Brasil participated in the II Assembly of the Mura People of Autazes, on May 30th, 2024, to receive the Mura Good Living Plan, built based on consultations between 37 Mura villages surrounding the municipality of Autazes.

The Company donated 20,000 seedlings grown in a tree nursery owned by Potássio do Brasil. “We have already donated more than 42 thousand seedlings to contribute to reforestation in the municipality of Autazes and surrounding regions” says Espeschit. The Company is committed to implement around 30 socio-economic and environmental programs, many of which are in line with the interests and programs
proposed by the Mura People.

The Mura people of Autazes are made up of 37 villages and represented by the Mura Indigenous Council (CIM), which has fully complied with the Mura Consultation Protocol developed following United Nations International Labour Organization (ILO) 169 protocols for free, prior and informed consultation. In the Mura People’s Assembly held in September 2023, a total of 94% of the villages represented approved the Project with over 90% support, far exceeding the thresholds set by the Mura themselves being a minimum of 60% voter participation with a minimum of 60% needing to vote in support.

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 press release 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 ofsuch 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 appointment of granting of licences, discussions with Indigenous communities and other stakeholders, advancement and construction of the Project, the status of the Company’s project, 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 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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