Mr. Cristiano Veloso reports

VERDE APPOINTS JOAO PAULO FREZ AS CHIEF REVENUE OFFICER

Verde Agritech Ltd. has appointed Joao Paulo Frez as chief revenue officer. Mr. Frez has over two decades of sales experience in the agribusiness sector, with the last nine years dedicated to developing the market for specialty fertilizers in Brazil. He succeeds Gilson Guardiero, who has served as the company's chief revenue officer since Q3 2023. Until February, 2024, Mr. Frez served as the senior commercial director for Brazil at ICL, a leading global specialty minerals company.

In his role as senior commercial director for Brazil at ICL, Mr. Frez managed a robust sales team that included three business unit directors, 13 regional sales managers and 120 technical sales executives. Under his leadership, ICL experienced significant growth in sales and margins, attributed to the successful expansion of the specialty fertilizers segment.

"Mr. Frez stands out as one of Brazil's most accomplished senior executives in specialty fertilizer sales. His journey in the industry began with five years of experience in large-scale farming operations before embarking on a remarkable sales career characterized by significant growth in results. Mr. Frez's proven track record in devising successful sales strategies and managing robust commercial operations across Brazil will play a crucial role in enhancing Verde's sales performance and overcoming market challenges to fulfill our goals for 2024 and beyond, sustainably ensuring returns across our entire value chain by delivering high-performance agronomic products that yield good profitability for farmers, distributors and our shareholders," commented Cristiano Veloso, Verde's founder and chief executive officer.

After playing a key role in setting up commercial operations at Cooasgo -- one of Brazil's most prominent agricultural co-operatives from 2008 to 2012 -- Mr. Frez transitioned to a commercial representative position at Consagro Agroquimica -- an American multinational agrochemical company -- where he focused on optimizing distribution channels and implementing direct sales strategies.

In 2015, he accepted the position of regional sales manager at Fertilaqua, overseeing a team of 10 technical sales executives across four Brazilian states. By 2017, he was promoted to business unit director, a pivotal role overseeing a strategic commercial region in Brazil. His area of operation covered multiple states, including Minas Gerais, Goias, Bahia and Tocantins. As business unit director, Mr. Frez led a team of 63 sales executives.

The specialty fertilizers segment's potential for high margins drew market attention to Fertilaqua, leading to its acquisition by ICL in 2021. After a year serving as business unit director at ICL, Mr. Frez was promoted to the role of senior commercial Director. He maintained this position until February, 2024, when he transitioned to Verde.

"Verde Agritech's dedication and mission to promote sustainable agriculture are truly inspiring. Verde's portfolio goes beyond just potassium supply. Our products deliver a variety of nutrients that substantially improve crop growth. They are also distinguished by their salinity-free composition, ability to enhance soil microbiota, low carbon footprint and their capability to sequester atmospheric CO2 [carbon dioxide], contributing to climate change mitigation. From my experience, it's evident to me that such characteristics establish our product as a notably superior specialty fertilizer, not just another commodity in the conventional potash market. However, our present market positioning does not fully convey these advantages, affecting the company's profit margins. Adopting a blue ocean strategy is essential to address this, aiming to stimulate demand and render traditional competition obsolete by focusing on value creation," stated Mr. Frez.

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.

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