Mr. Chuck Magro reports

NUTRIEN INCREASES ITS EXISTING SHARE REPURCHASE PROGRAM AND DECLARES QUARTERLY DIVIDEND

Nutrien Ltd.'s board of directors has approved, subject to regulatory approval, an increase to the share repurchase program through its previously announced normal course issuer bid expiring on Feb. 22, 2019, raising the maximum number of shares that may be acquired under the normal course issuer bid to 50,363,686 common shares, or approximately 8 per cent of outstanding shares. The increase would allow for the repurchase and cancellation of an additional 18,153,763 common shares. Previously, Nutrien repurchased and cancelled an initial maximum of 32,209,923 shares. Nutrien has filed with the Toronto Stock Exchange an amendment to its previously filed notice of intention to make normal course issuer bid purchases in order to increase the number of common shares it may purchase.

Nutrien's board of directors has also declared a quarterly dividend of 43 U.S. cents per share payable April 18, 2019, to shareholders of record on March 29, 2019.

"Today's announcement reflects the balance sheet strength Nutrien possesses and confidence in our integrated platform to produce strong and growing free cash flow," said Chuck Magro, Nutrien's president and chief executive officer. "We are committed to creating meaningful shareholder value, with approximately $2.6-billion (U.S.) returned so far to shareholders in 2018 through share repurchases and dividends. At the conclusion of the current NCIB, Nutrien intends to review the renewal of its share repurchase program," added Mr. Magro.

Normal course issuer bid

Under the normal course issuer bid, purchases may be made through the facilities of the Toronto Stock Exchange, the New York Stock Exchange or alternative Canadian trading systems or as otherwise permitted by the Canadian Securities Administrators. Nutrien has received approval of the TSX for the normal course issuer bid. The actual number of common shares that may be purchased under the normal course issuer bid and the timing of any such purchases will be determined by Nutrien. Nutrien believes that, purchasing its own common shares represents an attractive investment opportunity, is in the best interests of the company and is consistent with Nutrien's objective of delivering a strong return of capital to its shareholders over time. As of Feb. 12, 2018, being the date the normal course issuer bid was originally announced, Nutrien had 644,198,473 common shares outstanding. Common shares purchased under the normal course issuer bid will be cancelled.

The normal course issuer bid will be effected in accordance with the TSX's normal course issuer bid rules and/or Rule 10b-18 under the U.S. Securities Exchange Act of 1934, which contain restrictions on the number of common shares that may be purchased on a single day, subject to certain exceptions for block purchases, based on the average daily trading volumes of Nutrien's common shares on the applicable exchange. Subject to exceptions for block purchases, Nutrien will limit daily purchases of common shares on the TSX in connection with the normal course issuer bid to no more than 25 per cent (244,293) of the average daily trading volume of the common shares on the TSX (977,173) during any trading day. Purchases under the normal course issuer bid will be made through open-market purchases at market price as well as by other means as may be permitted by applicable securities regulatory authorities, including private agreements. Any purchases made by private agreement under an issuer bid exemption order issued by a securities regulatory authority will be at a discount to the prevailing market price as provided in any exemption order. Purchases of common shares commenced on or about Feb. 23, 2018, and will expire on the earlier of Feb. 22, 2019, the date on which the company has acquired the maximum number of common shares allowable or otherwise decides not to make any further repurchases. Nutrien is entering into an automatic purchase plan with a broker, which will enable Nutrien to provide standard instructions and purchase common shares on the open market during self-imposed blackout periods. Outside of these blackout periods, common shares may be purchased in accordance with management's discretion.

Quarterly dividend

Registered shareholders who are residents of Canada as reflected in Nutrien's shareholders register, as well as beneficial holders (shareholders who hold their common shares through a broker or other intermediary) whose intermediary is a participant in CDS Clearing and Depositary Services Inc. or its nominee, CDS & Co., will receive their dividends in Canadian dollars, calculated based on the Bank of Canada's daily exchange rate on March 29, 2019. Registered shareholders resident outside of Canada as reflected in Nutrien's shareholders register, including the United States, as well as beneficial holders whose intermediary is a participant in the Depository Trust Company or its nominee, Cede & Co., will receive their dividends in U.S. dollars. However, registered shareholders of Nutrien may elect to change the currency of their dividends payments to U.S. dollars or Canadian dollars, as applicable. In addition, Nutrien offers registered shareholders direct deposit by electronic funds transfer for dividend payments.

Registered shareholders may elect to change the currency of their dividends and enroll for direct deposit by contacting Nutrien's registrar and transfer agent, AST Trust Company (Canada), directly (1-800-387-0825 or inquiries@astfinancial.com). Beneficial shareholders who hold their shares through a broker should contact their brokers to determine the ability and necessary steps involved in an election to change the currency of their dividend payments.

All dividends paid by Nutrien are, pursuant to Subsection 89(14) of the Income Tax Act (Canada), designated as eligible dividends.

About Nutrien Ltd.

Nutrien is the world's largest provider of crop inputs and services, playing a critical role in helping growers increase food production in a sustainable manner. The company produces and distributes over 26 million tonnes of potash, nitrogen and phosphate products around the world.

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