Verde Appoints Chief Revenue Officer

SINGAPORE, Sept. 20, 2023 - Verde AgriTech Ltd. (TSX: "NPK") ("Verde" or the "Company") is pleased to announce that Gilson Guardiero ("Mr. Guardiero") will join the Company as its Chief Revenue Officer ("CRO"). With over two decades in agribusiness, Mr. Guardiero possesses relevant expertise in sales, client support and retention, and expansion and optimization of revenue-generating opportunities. As CRO, he will join Verde's leadership team to craft and execute a forward-looking sales strategy that aligns with Verde's broader mission; to lead and develop Verde's diverse sales force; to optimize sales processes by leveraging state-of-the-art tools and methodologies; and to champion data-driven decision-making to stay ahead in the Brazilian agricultural market and the global carbon credit market.

Mr. Guardiero is a seasoned expert in both the Business-to-Consumer ("B2C", involving direct sales to individual clients) and Business-to-Business ("B2B", entailing transactions with other companies) market sectors. He will drive growth and optimize sales in the B2C sector by applying his extensive experience and specialized know-how, with a focus on distribution networks, cooperatives, and end customers; and in the B2B category by replicating past successes partnerships with agricultural corporations that span the globe and leading Brazilian companies, covering a diverse range of agricultural-product categories. He has had particular success with bio-stimulants, specialty agricultural products, foliar treatments, fertilizers, and natural products that are free from chemical residues or additives.

Mr. Guardiero has a long trajectory in sales and business development across several reputable organizations. Most recently, for over two years, he served as the Director for Kimitec in Brazil, where he was manager of its commercial department and responsible for strategic sales planning aligned with the Kimitec's vision. Prior to that, Mr. Guardiero played the role of commercial manager for both Lonza, covering Brazil and Paraguay, and TIMAC Agro Brasil, where he focused on strategic commercial development, sales team leadership, and distribution channel management. His tenure of over six years with TIMAC Agro Brasil saw him emphasizing sales strategies, negotiations, and structured partnership developments. Earlier in his career, at Fertilizantes Heringer S.A., Mr. Guardiero managed a technical team and was deeply involved in commercial activities, spanning from product launches to interactions with Brazil's leading agricultural researchers. He started his career at Biosev - a part of the Louis Dreyfus Group - where he was a technical coordinator.

"I'm incredibly excited to introduce Gilson Guardiero as the newest member of our leadership team. Gilson's vast experience in agribusiness, spanning both the consumer and business sectors, makes him an invaluable addition as we shape our strategies for growth. By bringing him on board, we're not just planning for the future - we're reaffirming Verde's dedication to the high bar of excellence that has set us apart. His expertise will be instrumental in ensuring our growth remains both innovative and sound," expressed Cristiano Veloso, Verde's Founder and CEO.

"I am honoured to join Verde at this pivotal moment in the Company's journey. The vision for growth and commitment to sustainability resonate with my own values. It will also allow me to leverage my expertise to plan and implement new strategies to generate scalable revenue, while also contributing to the development of a world-class carbon capture projects," affirmed Mr. Guardiero.

Mr. Guardiero is an agricultural engineer with a postgraduate degree in soil fertility and plant nutrition from the Federal University of Lavras. He also holds an MBA in controllership and finance, as well as strategic leadership from the University of São Paulo.

Sale of Carbon Credits

With the inclusion of Mr. Guardiero to Verde's team, the Company is strategically poised to explore avenues for the monetization of Verde's carbon credits. Therefore, the preliminary sale of carbon credits has been withheld in favour of ongoing talks around a sustained, long-term market solution that will ensure consistent and expandable monetization. It is pertinent to note that carbon credits, especially those that offer permanent offsets comparable to Verde's, maintain their volume and do not expire.

Corporate restructuring

The hiring of Mr. Guardiero is a key component within Verde's corporate restructuring. This move strengthens the senior management team in line with the Company's commitment towards the milestone of 50 million tonnes of annual production and sales, while concurrently working to expedite the development of one of the world's largest carbon capture projects.

The Company anticipates announcing the appointment of a Vice President of Corporate Development in the near future.

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.¹ 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.² Verde has a combined measured and indicated mineral resource of 1.47 billion tonnes at 9.28% K₂O and an inferred mineral resource of 1.85 billion tonnes at 8.60% K₂O (using a 7.5% K₂O cut-off grade).³ This amounts to 295.70 million tonnes of potash in K₂O. For context, in 2021 Brazil's total consumption of potash in K₂O was 6.57 million⁴.

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.⁵

Corporate Presentation

For further information on the Company, please view shareholders' deck:

https://verde.docsend.com/view/hq69xy4k3fhgk2sf

Investors Newsletter

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The last edition of the newsletter can be accessed at: https://bit.ly/InvestorNL_July2023

Cautionary Language and Forward-Looking Statements

All Mineral Reserve and Mineral Resources estimates reported by the Company were estimated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining, Metallurgy, and Petroleum Definition Standards (May 10, 2014). These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.

This document contains "forward-looking information" within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. This information and these statements, referred to herein as "forward-looking statements" are made as of the date of this document. Forward-looking statements relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events and include, but are not limited to, statements with respect to:

1. the estimated amount and grade of Mineral Resources and Mineral Reserves;
2. the estimated amount of CO₂ removal per tonne of rock;
3. the PFS representing a viable development option for the Project;
4. estimates of the capital costs of constructing mine facilities and bringing a mine into production, of sustaining capital and the duration of financing payback periods;
5. the estimated amount of future production, both produced and sold;
6. timing of disclosure for the PFS and recommendations from the Special Committee;
7. the Company's competitive position in Brazil and demand for potash; and,
8. estimates of operating costs and total costs, net cash flow, net present value and economic returns from an operating mine.

Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "plans", "projects", "estimates", "envisages", "assumes", "intends", "strategy", "goals", "objectives" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements.

All forward-looking statements are based on Verde's or its consultants' current beliefs as well as various assumptions made by them and information currently available to them. The most significant assumptions are set forth above, but generally these assumptions include, but are not limited to:

1. the presence of and continuity of resources and reserves at the Project at estimated grades;
2. the estimation of CO₂ removal based on the chemical and mineralogical composition of assumed resources and reserves;
3. the geotechnical and metallurgical characteristics of rock conforming to sampled results; including the quantities of water and the quality of the water that must be diverted or treated during mining operations;
4. the capacities and durability of various machinery and equipment;
5. the availability of personnel, machinery and equipment at estimated prices and within the estimated delivery times;
6. currency exchange rates;
7. Super Greensand® and K Forte® sales prices, market size and exchange rate assumed;
8. appropriate discount rates applied to the cash flows in the economic analysis;
9. tax rates and royalty rates applicable to the proposed mining operation;
10. the availability of acceptable financing under assumed structure and costs;
11. anticipated mining losses and dilution;
12. reasonable contingency requirements;
13. success in realizing proposed operations;
14. receipt of permits and other regulatory approvals on acceptable terms; and
15. the fulfilment of environmental assessment commitments and arrangements with local communities.

Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Many forward-looking statements are made assuming the correctness of other forward looking statements, such as statements of net present value and internal rates of return, which are based on most of the other forward-looking statements and assumptions herein. The cost information is also prepared using current values, but the time for incurring the costs will be in the future and it is assumed costs will remain stable over the relevant period.

By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. We caution readers not to place undue reliance on these forward-looking statements as a number of important factors could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates assumptions and intentions expressed in such forward-looking statements. These risk factors may be generally stated as the risk that the assumptions and estimates expressed above do not occur as forecast, but specifically include, without limitation: risks relating to variations in the mineral content within the material identified as Mineral Resources and Mineral Reserves from that predicted; variations in rates of recovery and extraction; the geotechnical characteristics of the rock mined or through which infrastructure is built differing from that predicted, the quantity of water that will need to be diverted or treated during mining operations being different from what is expected to be encountered during mining operations or post closure, or the rate of flow of the water being different; developments in world metals markets; risks relating to fluctuations in the Brazilian Real relative to the Canadian dollar; increases in the estimated capital and operating costs or unanticipated costs; difficulties attracting the necessary work force; increases in financing costs or adverse changes to the terms of available financing, if any; tax rates or royalties being greater than assumed; changes in development or mining plans due to changes in logistical, technical or other factors; changes in project parameters as plans continue to be refined; risks relating to receipt of regulatory approvals; delays in stakeholder negotiations; changes in regulations applying to the development, operation, and closure of mining operations from what currently exists; the effects of competition in the markets in which Verde operates; operational and infrastructure risks and the additional risks described in Verde's Annual Information Form filed with SEDAR in Canada (available at www.sedar.com) for the year ended December 31, 2021. Verde cautions that the foregoing list of factors that may affect future results is not exhaustive.

When relying on our forward-looking statements to make decisions with respect to Verde, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Verde does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by Verde or on our behalf, except as required by law.

For additional information please contact:

Cristiano Veloso, Founder, Chairman & Chief Executive Officer

Tel: +55 (31) 3245 0205; Email: investor@verde.ag

www.verde.ag | www.investor.verde.ag

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¹ Learn more about our technologies: https://verde.docsend.com/view/yvthnpuv8jx6g4r9
² See the release at: https://investor.verde.ag/verde-starts-ramp-up-of-plant-2s-second-stage-to-reach-production-of-2-4mtpy/
³ As per the National Instrument 43-101 Standards of Disclosure for Mineral Projects within Canada ("NI 43 -101"), filed on SEDAR in 2017. See the Pre-Feasibility Study at: https://investor.verde.ag/wp-content/uploads/2021/01/NI-43-101-Pre-Feasibility-Technical-Report-Cerrado-Verde-Project.pdf
⁴ Source: Brazilian Fertilizer Mixers Association (from "Associação Misturadores de Adubo do Brasil", in Portuguese).
⁵ Source: Brazilian Comex Stat, available at: http://comexstat.mdic.gov.br/en/geral