Verde fertilizantes - Verde Potash Plc

September
2013
At-surface potash in
the heart of Brazil
TSX: NPK
www.verdepotash.com

Disclaimer
This presentation contains certain forward-looking information, which includes but is not limited to, statements with respect to the
Company’s new strategy, the commercial production of ThermoPotash and KCl, design and building of a Flex Plant, timing and
completion of a prefeasibility study, receipt of environmental permits, and the generation of cash flow from Phase 1 of the new
strategy. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause actual
results, performance or achievements of the Company to differ materially from the forward-looking information. Material risk factors
that could cause actual results to differ materially from such forward-looking information include, but are not limited to, the failure to
obtain necessary regulatory approvals, risks associated with the mining industry in general (e.g., operational risks in development,
exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures;
the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks),
commodity price, demand for ThermoPotash and KCl in Brazil, exchange rate fluctuations and other risk factors set out in the
Company’s most recently filed Annual Information Form under the heading “Risk Factors”. Currently, ThermoPotash is not
commercially produced or sold in Brazil. As a consequence, there is no current market for this product. Should commercial demand
for ThermoPotash fail to develop, the Company’s business model may not be appropriate. Accordingly, readers should not place
undue reliance on such forward-looking information. Material factors or assumptions used to develop such forward-looking
information include, but are not limited to, the demand for ThermoPotash and KCl in Brazil, the ability to secure necessary
environmental and mining permits, the ability to secure financing, and other assumptions set out in the Company’s current technical
report. The Company does not currently intend to update forward-looking information in this news release except where required by
law.
2
Total resources include all categories unless otherwise stated. The grades detailed in this presentation are conceptual in nature.
There has been insufficient exploration to define a mineral reserve. Should the company engage in further exploration, it is uncertain
that it will result in the targets being delineated as a mineral reserve. Readers are cautioned not to rely solely on the summary of
such information contained in this presentation and are directed to complete information posted on Verde’s website
(www.verdepotash.com) and filed on SEDAR (www.sedar.com) and any future amendments to such. Readers are also directed to
the cautionary notices and disclaimers contained herein. Potential investors should conduct their own investigations as to the
suitability of investing in securities of Verde Potash Plc.
All currencies are in Canadian dollars unless otherwise stated.
TSX: NPK

A low capex potash opportunity in Brazil
Verde is advancing the Cerrado Verde potash project, a low capex
opportunity to produce a premium, multi-nutrient potash fertilizer:
ThermoPotash.
The Cerrado Verde project allows for a low capex ThermoPotash project,
while supporting the development of a large scale KCl project concurrently.
Brazil is the largest potash importer globally offering the highest potash
prices of any major market due to its location and logistics.
3
Brazil’s development bank, BNDES, has been a significant source of
capital for Brazilian projects, investing US$75 billion in 2012.
TSX: NPK
3

Verde: Made in Brazil, listed on TSX (NPK)
C$13.3 Million in Cash, no debt 1 .
Significant South America based ownership including entrepreneurs
behind one of the world’s most successful fertilizer companies.
40,986,044 shares fully diluted.
52 week: Hi/Lo C$4.82/C$0.42.
4
Management team has significant experience constructing, operating and
financing similar projects.
1
As at June 30, 2013.
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Brazilian agriculture in a global context
Brazil is a dominant agricultural powerhouse.
Largest producer globally of sugar, coffee and orange juice.
Second largest producer globally of beef and soybeans.
More than one third of poultry traded globally is produced by Brazil.
Brazil Agriculture
World share 2011/12, %
Orange juice
Sugar
21%
43%
57%
82%
1
1
1
1
5
Soybeans
28%
40%
2
2
Poultry
Coffee
16%
34%
29%
36%
1
3
1
1
Beef
16%
16%
2
2
Corn
Pork
12%
8%
8%
3%
4
3
4
4
0% 20% 40% 60% 80% 100%
Exports Production
Source: USDA Foreign Agricultural Service
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The Cerrado is the key
The key to Brazil’s growth in agricultural output is the Cerrado.
Thirty years ago, this land was considered unproductive due to its high
acidity and low nutrient level of the soil.
Adding significant quantities of limestone over the past twenty years
addressed acidity, turning this land into a highly productive asset.
The UN Food and Agricultural Organization estimates Brazil has over 400
million hectares of arable land (much of it in the Cerrado), yet only 50
million hectares are currently in use.
6
Source: The Economist
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millions of tonnes of KCl
1985
1987
1989
1991
1993
1995
1997
1999
2001
2003
2005
2007
2009
2011
World’s largest importer of potash
Brazil was the largest importer of potash globally in 2012 at 7.5 million
tonnes of KCl.
Vale operates the only potash mine in the country, which met only 7%
of the country’s needs.
Potash consumption in Brazil has posted a 10-year CAGR of 4.7%,
much stronger than potash consumption globally at 2.3%.
9
8
7
Brazil Potash Consumption
Brazil Potash Consumption by Source
Domestic
production 7%
7
6
5
4
3
2
1
0
Imports 93%
Source: ANDA
Source: ANDA
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Cerrado Verde hosts 253 million tonnes of in-situ K 2 O
8
Mineral Resources Tonnage (Mt) Avg. K 2 O Grade
Total Indicated
(7.5% K 2 O cut off grade)
Total Inferred
(7.5% K 2 O cut off grade)
71.08 9.2%
2,763.8 8.9%
Source: PEA (February 2012)
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Privileged location, close to demand centres
KCl Consumption by Key Blender District
9
Source: ANDA 2012, Verde Potash Plc
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Phase I: Small is beautiful
The Company is now focused on a Phase I project that will require less
capital and will allow it to generate cash flow on an accelerated timeline.
Engineering work is in process on a 1,000 tonne per day kiln that would
serve two purposes:
1. Generate revenue and cash flow from the sale of ThermoPotash (TK).
2. Allow us to seek necessary performance guarantees for a 12,000 tpd
KCl kiln.
10
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Phased approach reduces risk
• Flex plant (1,000 tpd capacity);
• TK production; and
• Capable of seeking performance guarantees for a 12,000 tpd
KCl kiln.
• Large scale KCl production;
• Technical risk of scale-up is mitigated by the operation of the
Phase 1 flex plant.
11
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A premium, multi-nutrient potash fertilizer
K Ca Si Mg TK
ThermoPotash is a controlled-release, non-chloride, multi-nutrient
fertilizer that is ideally suited for Brazil.
12
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What are the advantages of TK?
Controlled release
Stays in soil until needed by the plant.
Multi-nutrient
Potassium, Calcium, Silicon, Magnesium and others.
Non-chloride
Limestone content
Suitable for crops that are sensitive to chloride damage;
i.e., coffee, potatoes, tobacco, pineapple
ThermoPotash reduces the acidity of Brazilian soils.
13
Improving Agronomic Efficiency
TSX: NPK 13

Brazil rainfall and limestone data
Average Annual
Rainfall
Brazil Fertilizer vs. Limestone
Consumption
Minas Gerais, Brazil
1,416
Limestone
30.0
Iowa, USA
882
N
3.4
Shandong, China
614
P2O5
3.9
Uttar Pradesh (plains), India
896
K2O
4.4
14
0 200 400 600 800 1000 1200 1400 1600
Rainfall (mm/year)
0 5 10 15 20 25 30 35
millions of tonnes
Heavy rains in the Brazilian
Cerrado increase the appeal of
a fertilizer resistant to leaching.
pH control costs Brazilian farmers
hundreds of millions of dollars
each year.
Farmers accustomed to adding
high quantities of soil conditioner.
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ThermoPotash vs. KCl
KCl
TK
60% K 2 O content
Contains chloride
7% K 2 O content
Non-chloride
15
Contains only potassium
Contains potassium, calcium
(limestone), silicon, magnesium, and
other micronutrients
Water soluble (susceptible to leaching)
Soluble in the weak acid of Brazilian
soils; resists leaching
No pH benefit for soils
Corrects acidity of Brazilian soils due to
limestone content
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Premium fertilizer characteristics
SOP
NOP
K-Mag®
TK
$1,110/t
$2,015/t
$710/t
Under Review
48% K 2 O
0% Ca
44% K 2 O
0% Ca
21% K 2 O
0% Ca
7% K 2 O
22% Ca
16
0% Si
0% Si
0% Si
17% Si
0% Mg
0% Mg
10% Mg
1% Mg
15% S
0% S
21% S

TK field test | Potato
Results of TK application: potatoes after 44 days
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Potato yield (kg/ha)
TK field test | Potato
35,000
30,000
29,841 29,228
25,000
23,550
20,000
15,000
10,000
5,000
0
K-MAG ThermoPotash Control
18
TK generated a yield 24% greater than the control group and not statistically
significantly different than that of K-Mag®.
After harvesting, soil treated with TK showed residual K levels 3 to 5 times
higher than that of the K-Mag® plot.
• K-Mag is a registered trademark of The Mosaic Company
Source: Verde Potash Plc 2012
TSX: NPK

ThermoPotash development
Work on using the potassium silicate rock at Cerrado Verde to produce TK
began in the early 1980s by Brazilian academics.
Verde built on the work from the 1980s with its own research and
development and agronomic field trials that began in 2009 and have
continued through to the present.
Over the past four years the Company and a number of research partners
have conducted 41 lab tests and 15 field tests with 12 different crops on
more than 23 hectares (230,000m 2 ).
ThermoPotash was approved for use as a potash fertilizer by the Brazilian
Ministry of Agriculture (“MAPA”) on June 24, 2013 - its registration number
is MG - 90. 773 10000-3. The product is now eligible for sale in Brazil
19
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Agronomic trials
20
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How do we make TK?
The Company’s potassium silicate rock is heated in a rotary kiln along with
limestone to produce ThermoPotash.
Heating the potassium silicate rock weakens the bonds between the
potassium and other elements in the rock, thereby allowing for easy K
uptake by plants.
The production process for TK is very similar to the pyro portion of the
production process the Company has developed for KCl.
Given that a TK production facility requires a rotary kiln but no evaporation
or crystallization equipment, capex for a TK plant is expected to be
materially lower than that for a KCl plant producing equivalent tonnage.
21
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How do we make TK?
Potassium silicate rock Limestone Heat
+ +
22
TK
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Management
Cristiano Veloso Founder, President, CEO
13 years experience; Brazilian entrepreneur ex Banco do Brasil S/A, CEMIG; LL.B, LL.M International Business
Law
Antônio Schettino Chief Operating Officer
30 years experience; ex COO of MMX Mineração e Metálicos; extensive experience in project development and
construction, including more than two decades as the operations director of significant iron ore, nickel, limestone
and coal mining operations in Brazil, Chile and Colombia
Patricia Radino -Rouse VP Engineering
40 years experience; ex Senior Process Engineer and manager for Paulo Abib Engenharia, responsible for
supervision of a 1.5Mtpy feasibility study for potassium sulphate project for Petrobras
Jaret Anderson VP Corporate Development
13 years experience; ex fertilizer and chemicals analyst with Mackie Research, Salman Partners and UBS
Securities
23
Rodolfo Silva Process Manager
17 years experience; past experience includes work with Usiminas S/A, Magnesita Refratários S/A, Vilma
Alimentos and AMBEV
Eduardo Spolidorio Marketing Manager
14 years experience; past experience includes work with Honeywell, Bunge, Mosaic and Heringer
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Independent directors
Leonardo Moretzsohn - Chairman
30 years of project finance experience including 24 years at Vale S.A; ex CFO of Vale Inco.; ex CFO of MMX Minas Rio and
EBX Holding S.A. (part of EBX Group); served as a director on Brazilian and international boards both in Brazil including those
of PT Vale Indonesia Tbk and Samarco Mineração (a Brazilian iron ore joint venture between Vale S.A. and BHP Billiton).
Richard Garnett
PhD. in Economic Geology (Royal School of Mines, UK), MBA (Cranfield University, UK); Mining Engineer. Has held senior
positions with Rio Tinto, Anglo American, Hudson Bay Mining and Diamond Fields Resources; instrumental in the early
recognition and exploration of the Voisey’s Bay nickel deposit.
José Fernando Coura
Current CEO of the Instituto Brasileiro de Mineração (IBRAM - Brazilian Mining Association) and Vice-President of the
Federação das Indústrias de Minas Gerais (FIEMG - Association of Industries of Minas Gerais State); served as the Executive
Director of the CAEMI Group, major Brazilian iron ore producer acquired by Vale in 2006.
Renato Gomes
Director of the ABCI Institute (Brazilian International Trade Scholars); lawyer and member of Brazilian and Portuguese Bar
Associations; current President and CEO of Atlantica Mining.
24
Getulio Lamartine de Paula Fonseca
Former General Director National Department of Power & Water Supply; Executive-Secretary Industry & Commerce Ministry.
Henrique Brandão Cavalcanti
Former Brazil’s Minister of the Environment (1994), Deputy Minister of Mines Energy (1967-69), Deputy Minister of Interior
(1969-74).
TSX: NPK

A low capex potash opportunity in Brazil
TK offers many advantages over KCl and is ideally suited for Brazilian soils.
A TK project involves much less capital than a similarly sized KCl plant.
A TK plant will allow us to generate cash flow and to mitigate technical risk
of scale-up to large scale KCl production.
Management remains focused on advancing the Cerrado Verde project and
monetizing the value of the large, at-surface potash resource the Company
controls in the heart of Brazil’s key agricultural region.
25
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Appendix
26
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Distance from Brazilian fertilizer buyers
Freight Distance for Potash Suppliers to Uberaba, Brazil (km)
Verde Potash
299
Sergipe
1,870
Germany
Israel
11,218
12,530
27
Russia
14,825
Canada
17,860
- 5,000 10,000 15,000 20,000
km
Rail Ship Truck
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TK efficacy | Leaching
Granular KCl and granular TK applied to the soil surface at a dose equivalent to 3,000 kg /
ha K 2 O and then subjected to 300 mm of irrigation measured over a period of 18 days.
28

TK efficacy | Leaching
Percentage of K leached after simulation of
heavy rain over 18 days
30%
25%
20%
26.2%
26.0%
15%
10%
29
5%
0%
KCl (granular)
Sandy soil (15% clay)
0.3% 0.3%
ThermoPotash
Clayey soil (40% clay)
Over a quarter of the potassium in the KCl was leached away vs. only
0.3% of the TK.
TSX: NPK

US$ (Billions)
2008
2009
2010
2011
2012
BNDES’s budget is significant
120
BNDES Disbursements
100
80
60
30
40
20
0
Source: BNDES, http://www.bndes.gov.br/
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The Brazilian real is depreciating vs. the USD
31
A depreciating real benefits Verde as labour, electricity and other costs at
Cerrado Verde tend to move lower in Canadian and U.S. dollar terms,
thus benefitting margins.
TSX: NPK
31

Potash prices in R$ terms
Granular Potash CFR Brazil in Brazilian Reals
32
Potash price in Brazilian real terms has held in better than that in other
markets due in part to the depreciation of the real.
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32

Logistics: Saskatchewan to Brazil
Saskatchewan producer shipping to the Cerrado
Mill gate cash cost
$144 1 /t
Rail to Vancouver
$43 2 /t
Mill gate
$144/t
Seaborne to Brazil
$33 3 /t
Brazil port charges
+ Demurrage
+ AFRMM
$26 - 43 4 /t
$5-10/t
$8 5 /t
Transportation
$188 - 240/t
33
Truck to blenders inland
$44 - 108 6 /t
Finance charges $12 7 /t
Total delivered cost
$332 - 384/t
1
Average COGS for Saskatchewan`s largest potash producer over the trailing 12 months
2
Government of Canada, Ministry of Transportation
3
CRU
4
Santos Port = $43; Paranaguá Port = $26 (Agroconsult)
5
AFRMM = Additional Freight for Renewal of the Merchant Navy : a tax imposed on inbound Brazilian freight (CRU)
6
Verde Potash Plc estimate
7
Cost to finance one tonne of potash at 5.5% interest for 150 days
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Crawling
34
University of Cambridge - UK
Verde’s lab - Brazil

Walking
35
Hazen Research – Denver, CO
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Jogging
36
Verde Potash – Pilot Plant in Brazil
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Running
37
FLSmidth – Allentown, PA
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Analyst coverage
Company Analyst Contact Details
AltaCorp Capital John Chu +1 (647) 776-8236
GMP Securities Anoop Prihar +1 (416) 367-8600
Kaiser Research John Kaiser +1 (925) 631-9748
Ocean Equities Adam Lucas +44 (0) 207 786 4370
38
Paradigm Capital Spencer Churchill +1 (416) 361-6056
Scotia Capital Ben Isaacson +1 (416) 945-5310
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