Mr. Cristiano Veloso reports

VERDE'S SHAREHOLDERS TO VOTE ON PROPOSAL TO BAN SALES TO AMAZON RAINFOREST REGIONS IN A COMMITMENT TO COMBAT DEFORESTATION

The proposal of a resolution will be voted on at Verde Agritech Ltd.'s coming 2023 general and special meeting of shareholders to stop all sales of Verde's multinutrient potassium products, Baks and K Forte, sold internationally as Super Greensand, to 218 municipalities, totalling 2.23 million square kilometres, covered predominantly by Amazon rainforest. If the resolution is approved, to those municipalities the company will only sell the product for reforestation projects that plant native trees.

"The Amazon rainforest is a vital ecosystem to the globe, providing essential functions such as carbon sequestration, biodiversity preservation and climate regulation. Sadly, the Amazon faces a grave threat from illegal deforestation, which often times is committed for the purposes of replacing it with farmland. This proposed resolution aligns with Verde's core values and underscores our unwavering commitment to sustainable practices in Brazilian agriculture, which mostly already abides by high standards of sustainability. Brazilian farmers outside of the Amazon region have demonstrated remarkable technological advancements and achieved record productivity in recent years, showcasing their dedication to efficient and sustainable food production, while preserving huge areas of native vegetation," comments Cristiano Veloso, Verde Agritech's founder and chief executive officer.

"This resolution is not expected to impact Verde's revenue in the medium to long run, but it serves as a powerful testament to our enduring dedication to environmental responsibility and will hopefully help set an example to be followed by other companies," concluded Mr. Veloso.

Recognizing the paramount importance of safeguarding the Amazon rainforest, Verde's board of directors has unanimously recommended that shareholders vote in favour of the resolution proposed by the company's executives.

Aligned with the company's purpose of improving the health of all the people and the planet, the resolution represents a significant step in the continuing battle against deforestation in one of the world's most biologically rich regions.

Over all, the initiative will protect a territory encompassing a total of 2.23 million square km. To put its magnitude into perspective, this area surpasses the combined size of Japan, Germany, the United Kingdom, France and Italy, nations that collectively rank among the top 10 largest economies worldwide.

If approved at the meeting, the resolution shall promptly come into effect, and the board will conduct annual reviews to ensure its unwavering efficacy in upholding the company's commitment to sustainability and the preservation of the Amazon rainforest.

To date, Verde has invested over $111-million in research and development, construction of plant 1 and plant 2, and access improvement. In 2022, the company became Brazil's largest potash producer by capacity, being able to produce up to three million tonnes of product per year. The company is also the world's largest manufacturer of potash fertilizers approved for organic agriculture.

Enhanced rock weathering

Verde has been assessing the carbon capture potential of its products, through independent studies conducted at Newcastle University. The studies are evaluating a natural process termed enhanced rock weathering (ERW), whereby carbon dioxide is permanently removed from the atmosphere by reacting with the decomposition of silicate minerals present within the product's raw material.

2023 annual general and special meeting of shareholders

The 2023 annual general and special meeting of shareholders of the company will be held on June 22, 2023, at 6 p.m. (SGT), at 16 Collyer Quay, No. 17-00, Singapore, 049318. Shareholders will be able to observe the meeting virtually utilizing Zoom and are invited to submit questions in advance.

The meeting's management information circular are available on SEDAR and on the company's website.

About Verde Agritech Ltd.

Verde is an agricultural technology company that produces potash fertilizers. Its purpose is to improve the health of all people and the planet. Rooting its solutions in nature, Verde makes agriculture healthier, more productive and profitable.

Verde is a fully integrated company: it mines and processes its main feedstock from its 100-per-cent-owned mineral properties, then sells and distributes the product.

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