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Investor PresentationSeptember 15, 2020
Forward-Looking Statements Advisory 2
Note: All dollar amounts are stated in US dollars throughout the presentation unless otherwise noted.
Certain statements and other information included in this document constitute "forward-looking information" or "forward-looking statements" (collectively, "forward-looking statements") under applicable securities laws (such statements are often accompanied by words such as "anticipate", “forecast”, "expect", "believe", "may", "will", "should", "estimate", "intend" or other similar words). All statements in this document, other than those relating to historical information or current conditions, are forward-looking statements, including, but not limited to: expected 2020 adjusted EBITDA and Retail EBITDA and margin estimates; estimated adjusted EBITDA fertilizer price sensitivity, capital spending expectations for 2020; expectations regarding performance of our operating segments in 2020; our operating segment market outlooks and expected market conditions for 2020 and beyond, including crop and fertilizer prices, volumes and demand; and acquisitions, including the timing thereof. These forward-looking statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from such forward-looking statements. As such, undue reliance should not be placed on these forward-looking statements.All of the forward-looking statements are qualified by the assumptions that are stated or inherent in such forward-looking statements, including the assumptions referred to below and elsewhere in this document. Although we believe that these assumptions are reasonable, this list is not exhaustive of the factors that may affect any of the forward-looking statements and the reader should not place an undue reliance on these assumptions and such forward-looking statements. The additional key assumptions that have been made include, among other things, assumptions with respect to our ability to successfully complete, integrate and realize the anticipated benefits of our already completed and future acquisitions, and that we will be able to implement our standards, controls, procedures and policies at any acquired businesses to realize the expected synergies; that future business, regulatory and industry conditions will be within the parameters expected by us, including with respect to prices, margins, demand, supply, product availability, supplier agreements, availability and cost of labor and interest, exchange and effective tax rates; the completion of our expansion projects on schedule, as planned and on budget; assumptions with respect to global economic conditions and the accuracy of our market outlook expectations for 2020 and in the future; our expectations regarding the impacts, direct and indirect, of COVID-19; the adequacy of our cash generated from operations and our ability to access our credit facilities or capital markets for additional sources of financing; our ability to identify suitable candidates for acquisitions and divestitures and negotiate acceptable terms; our ability to maintain investment grade ratings and achieve our performance targets; and the receipt, on time, of all necessary permits, utilities and project approvals with respect to our expansion projects and that we will have the resources necessary to meet the projects’ approach.Events or circumstances that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to: general global economic, market and business conditions; failure to complete announced and future acquisitions or divestitures at all or on the expected terms and within the expected timeline; climate change and weather conditions, including impacts from regional flooding and/or drought conditions; crop planted acreage, yield and prices; the supply and demand and price levels for our products; governmental and regulatory requirements and actions by governmental authorities, including changes in government policy (including tariffs, trade restrictions and climate change initiatives), government ownership requirements, changes in environmental, tax and other laws or regulations and the interpretation thereof; political risks, including civil unrest, actions by armed groups or conflict and malicious acts including terrorism; the occurrence of a major environmental or safety incident; innovation and cybersecurity risks to our systems, including our costs of addressing or mitigating such risks; regional natural gas supply restrictions; counterparty and sovereign risk; delays in completion of turnarounds at our major facilities; gas supply interruptions; any significant impairment of the carrying value of certain assets; risks related to reputational loss; certain complications that may arise in our mining processes; the ability to attract, engage and retain skilled employees and strikes or other forms of work stoppages; the COVID-19 pandemic and resulting effects; and other risk factors detailed from time to time in Nutrien reports, including our 2019 annual report dated February 19, 2020, our annual information form dated February 19, 2020 for the year ended December 31, 2019 and our second quarter 2020 interim report dated August 10, 2020, filed with the Canadian securities regulators and the Securities and Exchange Commission in the United States.The purpose of our expected 2020 adjusted EBITDA and Retail EBITDA estimates and the estimated adjusted EBITDA fertilizer price sensitivity are to assist readers in understanding our expected and targeted financial results, and this information may not be appropriate for other purposes. Nutrien disclaims any intention or obligation to update or revise any forward-looking statements in this document as a result of new information or future events, except as may be required under applicable Canadian securities legislation or applicable US federal securities laws.Non-IFRS Financial Measures AdvisoryThis document contains certain non-IFRS measures including adjusted EBITDA guidance and the combined historical results of Potash Corporation of Saskatchewan Inc. and Agrium Inc. for the year ended December 31, 2017. We consider non-IFRS financial measures to provide useful information to both management and investors in measuring our financial performance and financial condition. Refer to the disclosure under the heading “Appendix B – Non-IFRS Financial Measures” included in our annual report dated February 19, 2020 and in our second quarter 2020 interim report dated August 10, 2020, each as filed on SEDAR at www.sedar.com and EDGAR at www.sec.gov under our corporate profile. We do not provide a reconciliation of forward-looking adjusted EBITDA guidance to the most directly comparable financial measures calculated and presented in accordance with IFRS due to unknown variables and the uncertainty related to future results. These unknown variables may include unpredictable transactions of significant value that may be inherently difficult to determine, without unreasonable efforts. Non-IFRS financial measures are not recognized measures under IFRS and our method of calculation may not be comparable to that of other companies. These non-IFRS financial measures should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with IFRS.
September 15, 2020
3
Stability andGrowth
Retail Ag Solutions provides earnings stability & exposure to multiple growth
platforms
Stable and Growing Returns
Top tier, attractive & secure dividend
Nutrient Upside
Fertilizer markets are expected to recover providing significant earnings upside
potential
Strong Financial Position
Nutrien has a solid balance sheet with ample liquidity
Nutrien’s Key Message
September 15, 2020
Retail Business Continues to Deliver Growth and is Becoming Increasingly Diversified
Retail EBITDAUS Billions
Source: Nutrien
4
Industrial
September 15, 2020
Non-US RetailUS Retail
~30%
~20%
14%
20101
$0.5
2020F220151
$1.0
$1.4-$1.5• Delivering earnings growth
through the cycle, from organic growth (incl. investments in technology, private label) & accretive acquisitions
• Non-US Retail now accounts for ~30% of total Retail earnings
• Australian 2019 EBITDA margins at ~9%. More than double 2014 levels & Ruralco margins.
8%
7.5%margins
8.5%margins
1. 2010 & 2015 Retail EBITDA and Retail EBITDA margin for Agrium Inc.. 2. Based on Retail EBITDA guidance as provided on August 10, 2020.
Retail is Differentiated On Multiple Fronts That Will Help Unlock Organic Growth And Value Creation
5
September 15, 2020
Leading Online Platform
45%Total Share of Digital Sales of
Available Product Lines in Q2’201,2
>$700MTotal Digital Platform Sales
through June 20202
EBITDA Growth and Performance
$971MRecord first-half EBITDA in 2020
11.5%Record first-half US Retail EBITDA Margin in 2020
1. North American digital Retail sales as a proportion of North American Retail sales that are available for purchase online.2. Represents North America results.3. Post close of the TecAgro acquisition.
Brazil Growth Strategy3
~$500MExpected Annual Normalized
Run-Rate Revenue
>10%Expected EBITDA
Margins
Several Factors are Improving Market Conditions and Providing Stability to Global Crop Prices
Source: CRU, Bloomberg, Nutrien
September 15, 2020
6
We see a number of positive Ag developments emerging:• Corn prices have seen recent strength,
due to lower US yield & stocks-to-use expectations from the market, and high demand out of China.
• Continued improvement in ethanol blending margins, end-use demand, and utilization rates since Q2 lows.
• Brazil experiencing strong export volume and historically high sales prices for major crops.
• US farm support programs expected to add $0.36/bu for corn and $0.45/bu for soybeans.
Crop PricesIndex: 2005 = 100
0
100
200
300
400
500
2005 2010 2015 Today
Corn Soybean
Fertilizer PricesIndex: 2005 = 100
Fertilizer Prices Near Historical Lows With Multiple Catalysts Emerging That Could Lead To Recovery
Source: CRU, Bloomberg Nutrien
September 15, 2020
7
Several positive fertilizer developments are emerging:• Favorable US growing conditions this
summer have led to an expected early harvest season, which should be supportive for fall fertilizer application rates.
• Strong demand for out of India has provided a catalyst for the urea price recovery seen in 2H20 so far.
• US phosphate prices have increased $100 since May lows, due to strong demand out of Brazil and the impact from Mosaic’s countervailing duties petition.
• The majority of new potash capacity is now online and being absorbed in the market. No significant new nameplate capacity expected in the near term.0
100
200
300
400
500
2005 2010 2015 Today
NOLA Urea US DAP Brazil Potash
10.9-11.53
2019 2020 2021
Nutrien Expects To Benefit From A Cyclical Recovery In Market Prices And Higher Sales Volumes 8
Global Urea Cost CurveUS$/tonne
September 15, 2020Source: CRU, Fertecon, Nutrien
At current pricing levels, a sizeable portion of production is at negative margins; Nutrien further expects to benefit in 2020 from its investment in new capacity
Operational Capability (Mmt)
2020 2019
0 40
300
200
100
0180120
250
150
80
350
20 160
50
60 140100
1. Reported spot prices as of September 10, 2020.2. Refers to manufactured product only.3. Based on Nitrogen sales volume guidance as provided on August 10, 2020.4. Additional operational capacity completed in 2020 & 2021.
US Nola FOB ($/mt)1
NTR Nitrogen Sales Volumes2
Million Tonnes
10.3Offshore
2020F Range
N.A.
Expect ~350Kmtof additional operational
capacity by end of 20214
Strong free cash flow generation supports a stable & growing dividend, which at a current yield of 4.5%1 provides a stable rate of return while shareholders wait for price recovery
Strong Free Cash Flow And Stable & Growing Dividend 9
September 15, 2020Source: Nutrien
1. Dividend yield calculated as dividend per share ($1.80/sh annualized) divided by the closing share price on the NYSE as at September 11, 2020.2. Based on internal forecasts aligned with annual guidance provided in our news release dated August 10, 2020. Interest and taxes are disclosed on a cash basis.3. Based on 569M shares outstanding multiplied by an annualized dividend per share of $1.80.4. Assumes the mid-point of 2020F Adjusted EBITDA guidance as provided on August 10, 2020.
Dividends PaidUS$/Share
2020 Capital Allocation2
US$ Billions
“A robust buffer exists to support our dividend
payment, even at the bottom of the Ag cycle”
2020F Adj. EBITDA2
Sustaining Capex2
Dividends3 Remaining Capital4
Interest and Taxes2
0.9
2020F Range3.8
3.5
Apr’18 - Oct’18 Jan’19 - Jul’19 Oct’19 - Aug’20
$0.40$0.43
$0.45
Horizontal axis represents the length of time at each dividend level
Nutrien Providing Sector-leading Returns Of Capital
Share Repurchases and Dividends as a % of Market Cap3
(Percent)
MOSYAR
SDFDE ICL CFADM
AGCO
18.0
BG
11.0 11.0
FMC INGRCTVA Nutrien
2.0
5.0
9.08.08.010.09.0
15.0
23.0
29.0
NTR Peers
Segment size represents percentage of returns made to shareholders via dividends and share repurchases paid as reported from January 1, 2018 to September 4, 2020
Source: CapitalIQ
NTR returned $6.4B1 to shareholders by way of dividends and share repurchases and possesses one of the highest dividend yields among its peers at 4.5%2
1. Dividend and share repurchases paid as reported from Jan 1, 2018 to Sep 4, 20202. Dividend yield calculated as dividend per share ($1.80/sh annualized) divided by the closing share price on the NYSE as at September 11, 2020.3. Represents cash paid from share repurchases and dividends per the cash flow statement as reported from January 1, 2018 to September 4, 2020 divided by the
respective market capitalization as of September 4, 2020.
September 15, 2020
10
Investing At The Bottom: Positioned To Capitalize On A Fertilizer Price Rebound
September 15, 2020
11
Nutrien’s wholesale business has significant leverage to fertilizer prices, which is expected to provide a catalyst for earnings growth as prices rebound from bottom of the cycle levels
Commodity prices have recovered ~20% from their March 2020 lows1
Many potash and nitrogen producers are experiencing negative margins at current prices
Fertilizer prices have recently started to climb out of the historically low levels seen in 1H20
Price Drivers and Earnings Sensitivity
+$650MEstimated annualized impact
to Nutrien EBITDA from a $25/mtincrease in fertilizer prices
Sources: Bloomberg, Nutrien
1. Bloomberg commodity index price comparison between Mar 18, 2020 to Sep 8, 2020.
Nutrien’s Sustainability Strategy
“Our integrated sustainability strategy is addressing our most material ESG risks and providing solutions for a growing world.”
Nutrien President and CEO, Chuck Magro
September 15, 2020
12
Source: Nutrien
Appendix
14
LEGEND:
RETAIL
POTASH
NITROGEN
PHOSPHATE
ESN®
OFFICES
North and South America
GRANULATION LOVELAND PRODUCTS AND AFFILIATED FACILITIESAGRICHEM
TEC AGRO
INVESTMENTS AND JV’S
Source: Nutrien
Australia
Nutrien has a unique global footprint and well positioned assets
Leading Global Integrated Ag Solutions Provider
1. North American digital Retail sales as a proportion of North American Retail sales that are available for purchase online.
>500,000Grower accounts worldwide
45% Digitally enabled Retail sales
in Q2’201
6.5 MmtRecord first-half potash sales
volumes in 2020
~6.0 MmtAvailable Potash Capacity
>3,400Agronomists serving growers
around the world
September 15, 2020
Grower Cash Margins Have Improved on Strong Global Demand and Supply Concerns 15
-100
-50
0
50
100
150
200
250
300
350
-300
100
500
900
1,300
1,700
2,100
2,500
2,900
Key Crop Grower Cash MarginsLocal Currency Margin/Acre
US Corn US Soybean US Wheat US Cotton CDN Canola Brazil Soybean
Reduced expectations for corn output in the US have resulted in recent price increases. Record profit (‘19/’20) and record pre-sold product (‘20/’21) due to strong Chinese demand
and favorable Brazilian FX.
September 15, 2020Source: USDA, IMEA, Doane, Nutrien
Key Crop PricesUS$/bushel (unless otherwise indicated)
Global Crop Price Trends
3.00
3.50
4.00
4.50
5.00 Chicago Corn
7.50
8.00
8.50
9.00
9.50Chicago Soybeans
1,600
2,000
2,400
2,800
3,200Palm Oil (MYR/tonne)
50
70
90
110
130
150
Mato Grosso Soybeans (BRL/sack )1
Source: Bloomberg, ICE, USDA
1. Based on a 60kg sack of soybeans.
16
Crop prices are improving as the market gains clarity on US crop production and improved market conditions for palm oil
September 15, 2020
Brazil: Strong Grower Economics 17
Brazilian Harvested AcreageMillions of Hectares
A devaluation of the Brazilian real in 2020 has led to strong domestic crop prices. We expect a ~5% increase in acreage this year, driving crop input demand in 2H20.
September 15, 2020
Source: USDA, Bloomberg, CONAB, Nutrien
0
10
20
30
40
50
60
2013 2014 2015 2016 2017 2018 2019E2020F
Corn Soybeans
0
20
40
60
80
100
120
Jan-11 Jan-13 Jan-15 Jan-17 Jan-19
Soybeans
Corn
Mato Grosso Cash Soybean & Corn PricesReal/Sack
0
10
20
30
40
50
60
Wheat Barley Canola Oats Others
18
Australia Winter Crop AcreageMillion Acres
Difference in Feb-Jul Rainfall 2020 vs 2019mm
Key growing areas circled in red.
September 15, 2020
After two seasons of drought in Australia, moisture through the first half of 2020 has significantly improved growing conditions, leading to a forecast 23% increase in winter crop area vs 2019
Source: ABARES, Australian Government Bureau of Meteorology
Australia: Growing Conditions Improve
+23%
India: A Bright Spot for Nutrient Demand 19
India Fertilizer Import ProfileMillion Tonnes
3.8
6.6
4.34.55.5
4.04.76.3 6.0
4.1
9.7
5.3
0
3
6
9
12
15
MOP DAPUrea
4.5-5.0
9.0-9.5
6.0-6.5
2020F2016 20192017 2018
September 15, 2020
The increase in crop prices and the early monsoon rains have supported the Kharif plantings, which in supports demand for fertilizers
Source: CRU, Katana, India Meteorological Department, Nutrien
600
0100200
500
300400
Paddy Rice Corn Soybeans Cotton
+3% +5%
+5%
+5%2018/19 2019/20 2020/21
Minimum Support Prices for Kharif CropsRs./tonne
India Monsoon in 2020 (as of Sep 11) vs NormalDaily Mean Rainfall (mm)
02468
10121416
1-Jun
7-Jun
13-Jun
19-Jun
25-Jun
1-Jul
7-Jul
13-Jul
19-Jul
25-Jul
31-Jul
6-Aug
12-Aug
18-Aug
24-Aug
30-Aug
5-Sep
11-Sep
Actual Normal (1961-2010)
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
0
2
4
6
8
10
12
14
98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20F
Sales Volumes Gross Margin % of Net Sales
Strong potash margins supported by our low-cost mines and extensive distribution network
Potash: Historically Strong Margins And Volume Growth Throughout The Nutrient Cycle
Sales Volume Gross Margin1
Million Tonnes KCl Percent
1. 1998 to 2016 potash gross margin as a percentage of net sales based on PotashCorp financial information.2. Based on potash sales volume guidance provided on August 10, 2020.
20
Source: Nutrien
2
September 15, 2020
20
0
5
10
15
20
16 17 18 19 20F 16 17 18 19 20F 16 17 18 19 20F 16 17 18 19 20F 16 17 18 19 20F 16 17 18 19 20F
Million Tonnes KCl
2020
Fo
reca
st21
We project improved global potash demand of 65 to 67 million tonnes in 2020, up from ~64 million tonnes in 2019
Global Potash Deliveries by Region
Source: CRU, Fertecon, IFA, Nutrien
September 15, 2020
India Other Asia North America Latin America China Other4.5 – 5.0Mmt
• Expect increased shipments supported by normal monsoon rains in 2020 and increased minimum support prices and production for key crops
8.5 – 10.0Mmt• Despite volatile palm
oil prices, we expect improved affordability and supportive prices for a wide range of other crops, such as rice to support increased demand
9.5 – 10.0Mmt• Rebound in corn and
soybean acreage combined with more normal application weather expected to support a rebound in potash consumption
13.0 – 14.0Mmt• Strong corn and
soybean fundamentals and record-high grower margins, combined with lower inland potash inventory, expected to support demand
14.5 – 15.5Mmt• Expect reduced
shipments driven by inventory build in 2019, while domestic consumption remains supported by tightened crop supplies and government subsidies
13.5 – 14.0Mmt• Improved affordability
and growing demand for NPK fertilizers, particularly in Africa and FSU countries, are expected to boost potash demand
Global Potash Producer Sales
Source: CRU, Fertecon, Company Reports, Nutrien
Global Potash Producer Shipment Changes(Million Tonnes KCl)
0.8
0.4
0.8
0.2
Former Soviet UnionProducers
Nutrien2019Shipments
Other North American
Producers
Rest of the World
2020FShipments
63.8
66.0
22
September 15, 2020
Nutrien well-positioned to meet an increase in global potash demand
Tightening Global Nitrogen Supply & Demand
Global Nitrogen S&DMillion Tonnes Nitrogen
Global Utilization Rate1
Percent
Expect improved global demand and limited new capacity lead to a tighter supply/demand balance in 2020 and over the medium-term
23
Source: Source: CRU, Nutrien
0
20
40
60
80
100
120
140
160
180 Demand* Operational Capability
70%
75%
80%
85%
90%
95%
100%
1. Based on estimated operational capabilityNote: Demand growth based on 20-year CAGR 2002 to 2022
September 15, 2020
13.8Mmt
8.9Mmt
4.7Mmt
2.5Mmt
4.9Mmt 4.0-5.0Mmt
$0
$50
$100
$150
$200
$250
$300
$350
2015 2016 2017 2018 2019 2020F
Urea Exports Anthracite Coal based ProductionBituminous Coal based Production Urea Price (fob China)
Chinese Urea Exports Respond to Market Signal 24
Chinese urea exporters have not been aggressive in 2020, however we expect exports to be supported by strong Indian demand in the second half
Chinese Urea FundamentalsPrice/Cost (US$/tonne)
1
September 15, 2020Source: CRU, Nutrien
1. Represents the estimated production cost of Chinese urea producers using Bituminous and Anthracite feedstocks.
1
Retail Network Optimization – Tuck-ins, Targeted Builds & Closures
1. Excludes Actagro, Ruralco and other acquisitions not considered tuck-ins.2. 2010 cumulative closures represents the period of 2006 to 2010.3. 2011 to 2017 data is from Agrium Inc.
0
200
400
600
800
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Cumulative Store Closures U.S. Canada Australia South America
2
Global Tuck-in Acquisitions1,3
Cumulative Global Store Closures & Consolidations
Source: Nutrien
38 Major ‘Hub’ Locations Across the US
September 15, 2020
25
2011 2012 2013 2014 2015 2016 2017 2018 2019 Total
# of Locations Acquired1 33 59 22 32 26 76 44 53 64 409
Annual Sales1 $210 $477 $128 $192 $190 >$500 ~$300 ~$400 ~$450 >$2,800
(US millions)Annual EBITDA1
$27 $49 $12 $32 $20 ~$35 ~$23 ~$40 ~$40 >$270(US millions) (Year 1)
Nutrien is Strengthening its Retail Business: Strategic Transactions
42nd largest US Ag retailer 11 locations 5,000 customers
Environmentally sustainable soil and plant health and tech
US $55M1 EBITDA
Actagro is aligned with Nutrien’s strategy to invest in higher-margin proprietary products that provide strong value for growers.
Van Horn has built a strong ag retail business, with a track record of providing high value products and service for growers in Illinois.
3rd largest Ag retailer in AUS Purchase closed Sep 30, 2019 US $70M1 EBITDA
The combined business will further strengthen the service and innovation that Nutrien Ag Solutions delivers to Australian growers.
Nutrien is growing its geographic footprint and Ag solutions offerings
September 15, 2020
26
1. Expected run-rate annual EBITDA
30 years experience in Brazilian crop input market
12 farm centers US $60M annual sales
The Agrosema acquisition is an excellent fit as we continue to build our Ag retail business in the important and growing Brazilian agricultural market.
Source: Nutrien
25 years experience in Brazilian crop input market
8 retail branches US $200M annual sales Largest branded soybean seeds business
in Brazil
This acquisition fits with our strategy to bring whole farm solutions to our Brazilian customers.
Helena, 7%
Simplot Retail, 6%
Growmark, 5%
Wilbur-Ellis, 4%CHS, 3%
Significant Opportunity for Further US Retail Acquisitions
Expect to execute on roll-up opportunity & target to expand business to 25%-30%
Independents, 24%
Co-ops, 30%
21%
NTR has ~21% market share with only 10% of the facilities
27
Source: CropLife, NutrienSeptember 15, 2020
27
0
100
200
300
400
500
600
700
800
2012 2013 2014 2015 2016 2017 2018 2019
Proprietary Seed
Proprietary Nutritional Products
Proprietary Crop Protection Products
Retail: A Leading Agricultural Solutions Provider
Gross Margin (2019)US$ Billions
Crop Nutrients 32%
Crop Protection 36%
Seed 11%
Services/Other 18%
$3.2B
Crop inputs & services for over 100 different crops
Corn, 27%
Fruits and Vegetables,
18%Wheat,
16%
Soybean, 14%
Canola, 7%
Cotton, 7%
All Other, 11%
Providing everything growers need to maximize yields. > 3,400 crop
advisors
Broad Crop Diversity Complete Ag Solutions Offering
Merchandise 3%
Proprietary Products
Consistent growth platform of higher margin products valued by growers
Gross Margin1
US$ MillionsRevenue by Crop (2019)Percent
28
Source: Nutrien
1. 2012-2016 data is based upon Agrium Inc. financials. Excludes Dalgety animal health products. September 15, 2020
28
Crop Planning ToolAbility to place digital orders directly from the plan
Nutrien FinancialSeamlessly apply for financing/credit for purchases from Nutrien Ag Solutions
Field-specific Seed Recommendation ToolField by field multi-brand seed selling solution
Fertility Management ToolSoil and tissue data driven fertility insights
International ExpansionPlanning phase underway to roll out platform in Australia and South America
Nutrien Ag Solutions Digital Platform:“Progress Update and Future Plans” 29
September 15, 2020Source: Nutrien
Purchasing of key crop protection, fertilizer and seed products, order online or have your agronomist do it on your behalf
Pay bills online, look up past purchases, see account balances, notifications of new statements
Farm insight app current spray conditions, radar for rain & temperature, last 24 hours of rainfall, and national rainfall layers
Sustainability calculator and reporting linked to applied inputs and agronomic practices
Digital crop plans created tailor-made with your agronomist
Current Functionality Planned Additions for 2020
Pathway to ESG Improvement 30
Our strategy is expected to enable material improvements to Nutrien’s ESG performance in the areas that rank most important to shareholders
Environmental
Social
Governance
Assessing ESG Risks 3rd-Party ESG Research, Ratings & Rankings
Improved ESGDisclosure &
Associated Metrics
Evaluating industry risk, listening to stakeholders and benchmarking best practices
Improving our ESG performance and profileAssessing reporting landscape
and frameworks. Revised approach to 2020 ESG
reporting
September 15, 2020Source: Nutrien
Nutrien: Focused on Sustainable Agriculture
What have we done? Developed baseline 2018 scope 1 & 2 GHG emissions and obtained limited external
assurance from KPMG
Assessing our scope 3 GHG emissions inventory and are continuing to evaluate
Developing a comprehensive ESG and climate strategy including KPIs and targets, which is expected to roll out within the next year
Nutrien Ag Solutions Digital Platform, Echelon precision Ag solutions, 4R stewardship
Invested in technology, partnerships and products, some recent examples:
+ Acquisitions of Agrible, Waypoint, Actagro and Agbridge driving grower data analytics and solutions
+ ESN(~0.5 mmt) ~50% less N2O emissions vs. urea, DEF(0.6 mmt) ~90% NOx reduction
+ 1.2mmt of annual captured CO2, 250kt annual carbon capture GHG offset at Redwater nitrogen facility through the Alberta Trunk Line with potential to increase in the future
September 15, 2020
31
Source: Nutrien
Explaining the Gap: Why is NTR’s D&A Higher Than Sustaining CapEx?
September 15, 2020
32
Source: Nutrien
Sustaining CapEx (2019)
A number of factors contribute to Nutrien’s D&A being higher than sustaining capex, however core1 depreciation is in line with sustaining CapEx of ~$1.0B.
Nitrogen
Retail
Potash
PhosphateCorporate
$1.0B
Normal course amortization for assets such as intangibles do not require regular cash outlays to maintain them in a safe and reliable manner.
The adoption of IFRS 16 resulted in $1.1B of leased assets being capitalized, and increased depreciation expense.
The merger resulted in certain balance sheet items written up to fair value, contributing to higher D&A for a number of assets such as intangible assets and PP&E.
D&A (2019)
Core Depreciation
Amortization
PPA
Leases
$1.8B
1
2
3
1. Core represents depreciation related to tangible assets excluding leased assets and impact of fair value adjustments from the merger.
$1.1B
For further information, visit:www.nutrien.com
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