Mr. Cristiano Veloso reports

AUTOMATIC SECURITIES DISPOSITION PLAN ESTABLISHED BY VERDE AGRITECH CHIEF EXECUTIVE OFFICER

Verde Agritech Ltd.'s president and chief executive officer, Cristiano Veloso, established an automatic securities disposition plan (ASDP) in accordance with applicable Canadian securities legislation and the company's internal policies. The ASDP has been established by Mr. Veloso for personal and financial planning purposes and does not reflect Mr. Veloso's views on the future prospects of the company. Mr. Veloso will continue to hold a significant equity interest in the company following the sale of shares under the ASDP.

The ASDP permits trades to be made in accordance with prearranged instructions given when Mr. Veloso was not in possession of any material undisclosed information. The ASDP will be effective on Oct. 10, 2023, and sales of shares under the ASDP may commence on the effective date. Any sale will be restricted to a predetermined percentage of daily volume and minimum prices.

Up to 4,903,967 shares, representing approximately 9 per cent of the issued and outstanding shares of the company, may be sold under the ASDP implemented by Mr. Veloso. The ASDP is designed to allow for an orderly disposition of the shares at prevailing market prices over the course of the 36-month period that sales under the ASDP are expected to take place.

Mr. Veloso has provided prearranged instructions in writing to the independent agent administering the ASDP, including the number of securities to be sold and setting out minimum trade prices. The number of shares that may be sold on a daily basis at a particular sale price will be limited based on share price and daily trade volumes.

The ASDP prohibits the agent administering the ASDP from consulting with Mr. Veloso regarding any sales under the ASDP and prohibits Mr. Veloso from disclosing to the agent any information concerning the company that might influence the execution of the ASDP. The ASDP has been authorized and established in the form approved by the company and contains meaningful restrictions on the ability of Mr. Veloso to amend, suspend or terminate the ASDP.

This announcement is made and will be available on SEDAR+ pursuant to the recommended practices set forth in Staff Notice 55-317 Automatic Securities Disposition Plans of the Canadian Securities Administrators. Information regarding the ASDP and transactions thereunder, as the case may be, may be accessed on SEDI.

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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