Mr. Cristiano Veloso reports

VERDE APPOINTS MARCUS RIBEIRO AS VICE PRESIDENT SALES

Verde Agritech Ltd. has appointed Marcus Ribeiro as vice-president of sales. Mr. Ribeiro will lead a skilled team of seven account managers, overseeing 2,468 of Verde's clients. These clients collectively cultivate over 940,000 hectares and present a potential purchase volume of 1.4 million tons of product. Mr. Ribeiro's responsibilities extend to managing Verde's indirect sales team, with a portfolio that includes 110 independent sales agents and distributors. This segment of sales has played a significant role in the company's revenue, contributing 46 per cent of the company's sales volume in 2021, 41 per cent in 2022 and 37 per cent in 2023. Mr. Ribeiro brings over 20 years of experience in agribusiness, encompassing roles in commercial, technical, administrative and personnel management.

During his tenure as sales manager at Timac Agro, a French multinational, part of the Roullier Group, known for manufacturing and marketing specialty fertilizers, Mr. Ribeiro garnered significant recognition. In this role, Mr. Ribeiro was acclaimed as one of the top three sale managers in Brazil for two consecutive years due to his outstanding results.

In his capacity as a partner and sales manager at Grupo Casa Bugre, Mr. Ribeiro was responsible for the agricultural bio-inputs and fertilizers for six years. He led the Agrivalle branch, providing national and international markets with transformative and sustainable solutions. His portfolio included a robust range of specialty fertilizers, biological products, adjuvants, inoculants and additives, with a particular focus on the states of Mato Grosso and Minas Gerais.

"A native of Sao Gotardo, Minas Gerais -- the heart of Verde's operations -- Mr. Ribeiro has built a remarkable career across Brazil's major agricultural regions. He has a proven record in leading diverse agricultural sectors, particularly in the specialty fertilizers market. His deep understanding of market dynamics, customer trends, along with his expertise in building partnerships, driving sales growth, and enhancing operational efficiency are key to fully capitalize on the potential of our sales channels and amplifying our market presence," stated Cristiano Veloso, Verde's founder and chief executive officer.

In his new role, Mr. Ribeiro will focus on boosting customer retention and development, implementing personalized relationship strategies, and nurturing solid partnerships. His approach, deeply rooted in understanding client needs and creating customized sales and development strategies, aligns with Verde's mission to meet and exceed client expectations. This strategic appointment is a significant move in Verde's continuous effort to fortify its position in the agricultural sector and adapt to the changing needs of its clients.

Mr. Ribeiro holds a degree in agricultural engineering from the University Center of Patos de Minas (UNIPAM), a degree in business administration and management from the University of Sao Gotardo (FACIG), and a postgraduate degree in agronomy, soils and plant nutrition, with a focus on soil fertility management in the Cerrado region.

"I am thrilled to join the Verde Agritech team," said Mr. Ribeiro. "The company's vision for innovation, growth and sustainability aligns with my values. I look forward to applying my experience to further develop our relationship management and sales strategies, reinforcing our market position and enhancing our customer-centric approach," affirmed Mr. Ribeiro.

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, it 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 tons 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 tons at 9.28 per cent K2O and an inferred mineral resource of 1.85 billion tons at 8.60 per cent K2O (using a 7.5-per-cent K2O cut-off grade). 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 million.

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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