(All figures are in Canadian dollars, unless stated otherwise. Average exchange rate in Q3 2023: C$1.00 = R$3.72)
Verde’s
production
facilities (km)(kg COaverage(kg COweighted
average(kg COMarket Size
(‘000 tons K2O)Market Size
(‘000 tons K Forte®)Cumulative
Market Size
(‘000 tons K Forte®)Subsequent EventsThis scenario led to a consistent decline in fertilizer prices from the second half of 2022 onwards. As the price of fertilizers started to decrease, many farmers postponed their purchases of agricultural inputs as much as possible, hoping that the downward trend would lead to even lower prices. This delay directly impacted Verde’s sales volumes.Global Market Competition and Financing^{(2)(3)(4)(5)depreciationexpected for 2023costs (% of total
costs)Verde calculates its total production costs as a weighted average of the production costs for BAKS® and K Forte®, taking into account the production site and packaging type for each product. Therefore, comparing the Company’s production costs on a quarter-over-quarter basis may not be meaningful due to the varying proportions of the cost factors that impact each quarter.Sales and marketing expensesGeneral administrative expensesCAD $’000Q3 2023 Results Conference CallThe questions can be submitted in advance through the following link: https://bit.ly/Questions_Q3-2023}

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