Mr. Cristiano Veloso reports

VERDE APPOINTS RENATO MENDES AS VICE PRESIDENT STRATEGIC ACCOUNTS

Verde Agritech Ltd. has appointed Renato Mendes as vice-president, strategic accounts. Mr. Mendes will lead a team focused exclusively on Verde's main customers, who collectively farm over 9 million hectares. This group of 431 customers can potentially avoid up to 245 thousand tons in emission of CO2 1 and remove an additional 1.5 million tonnes of carbon dioxide annually. Alone, this impact would represent one of the world's largest carbon removal projects. To achieve this landmark, around 12 million tons per year of Verde's 3.2 billion tonnes of mineral resources will be required.2

"It is vital to realise how fast national and international regulations are changing and accelerating towards the creation of the 1 trillion US dollar annual carbon removal industry forecasted by The Economist.3 Mr. Mendes will lead a specialized team of agronomists composed of professionals with advanced academic qualifications, including master's and doctoral degrees, which will assist our customers in making a decisive contribution towards fighting climate change", commented Cristiano Veloso, Verde's Founder and CEO.

Mr. Mendes hails from a family of farmers and has over twenty years of experience as an entrepreneur, farmer, consultant and senior executive. He graduated from the University of Sao Paulo (USP) in Agronomy Engineering and holds a post-graduation in Agribusiness Management from Federal University of Sao Carlos (UFSCar) and an MBA in Finance from Getulio Vargas Foundation (FGV).

"I first met Renato Mendes 16 years ago in his hometown of Sao Gotardo, Minas Gerais state, where Verde's operations are. By that time, he was already establishing himself as a leader in agribusiness. Over the years, my admiration for his work has only grown, as he built a very successful career in agriculture. Conversely, Mr. Mendes tracked both Verde's growing operations in his region and the field results of our Products. I was excited when he accepted our invitation to join Verde and look forward to working with him as we start a new chapter in our company's life", concluded Mr. Veloso.

Mr. Mendes possesses extensive expertise and experience in the agronomy sector, honed through roles such as General Manager at Agris Consultoria4 and Agricultural Director at Sekita Agronegocios,5 where he developed skills in business plan development, farm planning, and project management.

During his tenure as strategic accounts manager at DeLaval, a global leader in hardware for the dairy and farming sector that operates 18 factories across over 100 markets worldwide,6 Mr. Mendes successfully led initiatives in market development, conducted competition analysis, and managed significant large-scale projects and key accounts. His experience at DeLaval, known for its innovation and technological advancements in the agricultural sector, significantly contributed to his deep understanding of global market dynamics and client management in complex industries.

From 2014 to 2021, Renato Mendes led "Terra do Leite" project, a groundbreaking integrated farming and dairy business he co-envisioned. This project distinguished itself by introducing robotics and cutting-edge technology to milk production, significantly modernizing and enhancing the efficiency of the process. Mr. Mendes's involvement in this venture represents his commitment to innovation and sustainable agriculture practices, leading to transformative changes in the sector.7 Renato Mendes was the Co-Founder and CEO of Paty Agro8 and Co-Founder and Senior Consultant at Agris Consultoria since 2019.

"I am thrilled to join Verde AgriTech, a leader in agribusiness innovation that I have tracked closely over the years. As Vice President Strategic Accounts, my focus will be on intensifying our customer-centric strategy, tailing our sales strategies and customizing our offerings to meet the unique requirements of our major accounts, all the while ensuring that the carbon removing properties of Verde's Products are strengthened and become a growing revenue stream. I am passionate about building robust, synergistic partnerships with clients and, above all, convinced that these relationships are fundamental in bringing light to opportunities that propel shared growth and success," affirmed Mr. Mendes.

About Verde AgriTech

Verde is an agricultural technology Company that produces potash fertilizers. Our purpose is to improve the health of all people and the planet. Rooting our solutions in nature, we make agriculture healthier, more productive, and profitable.

Verde is a fully integrated Company: it mines and processes its main feedstock from its 100% owned mineral properties, 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.9 Currently, the Company is fully licensed to produce up to 2.8 million tons per year of its multinutrient potassium fertilizers K Forte(TM) and BAKS(TM), sold internationally as Super Greensand(TM). In 2022, it became Brazil's largest potash producer by capacity. Verde has a combined measured and indicated mineral resource of 1.47 billion tons at 9.28% K2O and an inferred mineral resource of 1.85 billion tons at 8.60% K2O (using a 7.5% K2O cut-off grade).10 This amounts to 295.70 million tons of potash in K2O. For context, in 2021 Brazil's total consumption of potash in K2O was 6.57 million11.

Brazil ranks second in global potash demand and is its single largest importer, currently depending on external sources for over 97% of its potash needs. In 2022, potash accounted for approximately 3% of all Brazilian imports by dollar value.12

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