Nutrien Ltd. · TSX:NTR

Nutrien — Bernstein 36th Annual Strategic Decisions Conference 2020

13 slides from Nutrien's conference presentation, May 28, 2020

  1. Slide 1: Bernstein 36th Annual Strategic Decisions Conference

    Bernstein 36th Annual Strategic Decisions Conference May 28, 2020

  2. Slide 2: Forward Looking Statements

    Forward Looking Statements 2 Certain statements and other information included in this document, including within “Outlook and Guidance” constitute "forward-looking information" or "forward-looking statements" (collectively, "forward-looking statements") under applicable securities laws (such statem

  3. Slide 3: Nutrien is a premium Ag investment with multiple levers to drive significant shareholder value

    Nutrien is a premium Ag investment with multiple 3 levers to drive significant shareholder value Retail business that provides stability and exposure to multiple growth platforms Fertilizer markets reaching structural lows with significant upside potential Nutrien has one of the strongest balance sh

  4. Slide 4: Retail business continues to deliver growth and is becoming increasingly diversified

    Retail business continues to deliver growth and 4 is becoming increasingly diversified Retail EBITDA US Billions Non-US Retail • Delivering earnings growth United States $1.4-$1.5B through the cycle, from organic ~30% growth (incl. investments in technology, private label) & accretive acquisitions $

  5. Slide 5: Retail business differentiated on multiple fronts that will help unlock organic growth and value creation

    Retail business differentiated on multiple fronts that 5 will help unlock organic growth and value creation Leading Online Platform ~40% Total Share of Digital Sales of >$300M Total Digital Platform Sales Available Product Lines through May 2020 Growing Proprietary Products Portfolio >$2B Total Prop

  6. Slide 6: Crop prices have weakened but improving market conditions expected to lend support

    Crop prices have weakened but improving market 6 conditions expected to lend support Crop Prices Index: 2005 = 100 We see a number of positive Ag 500 developments emerging: Corn Soybean • US corn planted acreage likely to be 400 well below USDA forecast 97M acres. 300 • Recent improvement in ethanol

  7. Slide 7: Fertilizer prices near historical lows with multiple catalyst emerging that could lead to recovery

    Fertilizer prices near historical lows with multiple 7 catalyst emerging that could lead to recovery Fertilizer Prices Index: 2005 = 100 A number of positive fertilizer developments are emerging: 500 NOLA Urea US DAP Brazil Potash • New potash spot markets are higher 400 over past few weeks. Canpote

  8. Slide 8: Multiple indicators support our belief that potash markets are at or near bottom of the cycle levels

    Multiple indicators support our belief that potash 8 markets are at or near bottom of the cycle levels We believe ~6Mmt of operational capability is cash negative at prices below $200/mt CFR; operational rates are posed for a recovery Potash Cost Curve, Cash Cost1 Global Potash Utilization (operatio

  9. Slide 9: Nutrien expects to benefit from a cyclical recovery in market prices and higher sales volumes

    Nutrien expects to benefit from a cyclical recovery 9 in market prices and higher sales volumes At current pricing levels, a sizeable portion of production is at negative margins; Nutrien further expects to benefit in 2020 from investment in new capacity Global Urea Cost Curve NTR Nitrogen Sales Vol

  10. Slide 10: Investing at the Bottom: Stable and Growing Dividend and Strong Free Cash Flow

    Investing at the Bottom: Stable and Growing 10 Dividend and Strong Free Cash Flow Strong free cash flow generation supports a stable and growing dividend, which at a current yield of 5.5%1 provides a stable rate of return while shareholders wait for price recovery. 2020 Capital Allocation Dividends

  11. Slide 11: Investing at the Bottom: Positioned to Capitalize on a Fertilizer Price Rebound

    Investing at the Bottom: Positioned to Capitalize on 11 a Fertilizer Price Rebound Nutrien’s wholesale business has significant leverage to fertilizer prices, which will provide a catalyst for earnings growth as prices rebound from bottom of the cycle levels Price Drivers and Earnings Sensitivity A

  12. Slide 12: Nutrien Sustainability Strategy

    Nutrien Sustainability Strategy 12 “Our integrated sustainability strategy is addressing our most material ESG risks and providing solutions for a growing world.” Nutrien President and CEO, Chuck Magro May 28, 2020 Source: Nutrien

  13. Slide 13: Thank You!

    Thank You! For further information, visit: www.nutrien.com twitter.com/nutrienltd facebook.com/nutrienltd linkedin.com/company/nutrien youtube.com/nutrien

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