Mr. Cristiano Veloso reports

VERDE APPOINTS CHIEF REVENUE OFFICER

Verde Agritech Ltd. has appointed Gilson Guardiero as its chief revenue officer (CRO). With over two decades in agribusiness, Mr. Guardiero possesses relevant expertise in sales, client support and retention, and expansion and optimization of revenue-generating opportunities. As CRO, he will join Verde's leadership team to craft and execute a forward-looking sales strategy that aligns with Verde's broader mission: to lead and develop Verde's diverse sales force; to optimize sales processes by leveraging state-of-the-art tools and methodologies; and to champion data-driven decision-making to stay ahead in the Brazilian agricultural market and the global carbon credit market.

Mr. Guardiero is a seasoned expert in both the business-to-consumer (B2C, involving direct sales to individual clients) and business-to-business (B2B, entailing transactions with other companies) market sectors. He will drive growth and optimize sales in the B2C sector by applying his extensive experience and specialized know-how, with a focus on distribution networks, co-operatives and end customers, and in the B2B category by replicating previously successful partnerships with agricultural corporations that span the globe and leading Brazilian companies, covering a diverse range of agricultural product categories. He has had particular success with bio-stimulants, specialty agricultural products, foliar treatments, fertilizers and natural products that are free from chemical residues or additives.

Mr. Guardiero has a long trajectory in sales and business development across several reputable organizations. Most recently, for over two years, he served as the director for Kimitec in Brazil, where he was manager of its commercial department and responsible for strategic sales planning aligned with the Kimitec's vision. Prior to that, Mr. Guardiero played the role of commercial manager for both Lonza, covering Brazil and Paraguay, and TIMAC Agro Brasil, where he focused on strategic commercial development, sales team leadership and distribution channel management. His tenure of over six years with TIMAC Agro Brasil saw him emphasizing sales strategies, negotiations and structured partnership developments. Earlier in his career, at Fertilizantes Heringer SA, Mr. Guardiero managed a technical team and was deeply involved in commercial activities, spanning from product launches to interactions with Brazil's leading agricultural researchers. He started his career at Biosev -- a part of the Louis Dreyfus Group -- where he was a technical co-ordinator.

"I'm incredibly excited to introduce Gilson Guardiero as the newest member of our leadership team. Gilson's vast experience in agribusiness, spanning both the consumer and business sectors, makes him an invaluable addition as we shape our strategies for growth. By bringing him on board, we're not just planning for the future, we're reaffirming Verde's dedication to the high bar of excellence that has set us apart. His expertise will be instrumental in ensuring our growth remains both innovative and sound," expressed Cristiano Veloso, Verde's founder and chief executive officer.

"I am honoured to join Verde at this pivotal moment in the company's journey. The vision for growth and commitment to sustainability resonate with my own values. It will also allow me to leverage my expertise to plan and implement new strategies to generate scalable revenue, while also contributing to the development of a world-class carbon capture projects," affirmed Mr. Guardiero.

Mr. Guardiero is an agricultural engineer with a postgraduate degree in soil fertility and plant nutrition from the Federal University of Lavras. He also holds an MBA in controllership and finance, as well as strategic leadership from the University of Sao Paulo.

Sale of carbon credits

With the inclusion of Mr. Guardiero to Verde's team, the company is strategically poised to explore avenues for the monetization of Verde's carbon credits. Therefore, the preliminary sale of carbon credits has been withheld in favour of continuing talks around a sustained, long-term market solution that will ensure consistent and expandable monetization. It is pertinent to note that carbon credits, especially those that offer permanent offsets comparable with Verde's, maintain their volume and do not expire.

Corporate restructuring

The hiring of Mr. Guardiero is a key component within Verde's corporate restructuring. This move strengthens the senior management team in line with the company's commitment toward the milestone of 50 million tonnes of annual production and sales, while concurrently working to expedite the development of one of the world's largest carbon capture projects.

The company anticipates announcing the appointment of a vice-president of corporate development in the near future.

About Verde Agritech Ltd.

Verde is an agricultural technology company that produces potash fertilizers. The company's 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 and then sells and distributes the product.

Verde's focus on research and development has resulted in one patent and eight patents pending. Among its proprietary technologies are Cambridge Tech, 3D Alliance, MicroS Technology, N Keeper and Bio Revolution. Currently, the company is fully licensed to produce up to 2.8 million tonnes per year of its multinutrient potassium fertilizers K Forte and BAKS, sold internationally as Super Greensand. In 2022, it became Brazil's largest potash producer by capacity. Verde has a combined measured and indicated mineral resource of 1.47 billion tonnes at 9.28 per cent K2O (potassium oxide) and an inferred mineral resource of 1.85 billion tonnes at 8.60 per cent K2O (using a cut-off grade of 7.5 per cent K2O). This amounts to 295.7 million tonnes of potash in K2O. For context, in 2021, Brazil's total consumption of potash in K2O was 6.57 million tonnes.

Brazil ranks second in global potash demand and is its single largest importer, currently depending on external sources for over 97 per cent of its potash needs. In 2022, potash accounted for approximately 3 per cent of all Brazilian imports by dollar value.

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