Nutrien Ltd. · TSX:NTR
Nutrien — BAML 2019 Global Agriculture and Materials Conference
16 slides from Nutrien's conference presentation, Feb 26, 2019
Slide 1: Investor Presentation
Investor Presentation BAML 2019 Global Agriculture and Materials Conference February 2019
Slide 2: Forward Looking Statements
Forward Looking Statements 2 Certain statements and other information included in this presentation constitute "forward-looking information" or "forward-looking statements" (collectively, "forward-looking statements") under applicable securities laws (such statements are often accompanied by words s
Slide 3: Presentation Outline
Presentation Outline 3 1 1 Nutrien Overview 2 Market Fundamentals and Performance 3 Capital Allocation February 26, 2019
Slide 4: Nutrien Has a Unique Global Footprint and Well Positioned Assets
Nutrien Has a Unique Global Footprint and Well 4 Positioned Assets North American Integrated Footprint South America Australia LEGEND: RETAIL GRANULATION POTASH LOVELAND PRODUCTS AND AFFILIATED FACILITIES NITROGEN AGRICHEM PHOSPHATE INVESTMENTS AND JV’S ESN® OFFICES ~27Mmt >1,700 $600M $1.72 ~42M Co
Slide 5: Diversified Portfolio Provides Stability and Multiple Avenues for Growth
Diversified Portfolio Provides Stability and Multiple 5 Avenues for Growth 2018 Adjusted Adjusted EBITDA EBITDA1 Split US$ Billions 5.0 55% 18% Retail 4.0 ~28% ~38% Potash 3.0 2.0 ~7% Phosphate and Sulfate ~27% 1.0 0.0 Nitrogen 2017 2018 2019F 2 Significant earnings growth delivered in 2018 and expe
Slide 6: Nutrien Delivered on Strategic Priorities in 2018
Nutrien Delivered on Strategic Priorities in 2018 6 2018 Achievements • Achieved $521M of run-rate synergies as at December 31, 2018, expect $600M by the end of 2019 Integration & • Completed regulatory required divestment of SQM, ICL Synergies and APC for $5.3 Billion of net proceeds • Allocated ~$
Slide 7: Strong Free Cash Flow and Balance Sheet
Strong Free Cash Flow and Balance Sheet 7 Free Cash Flow Net Debt1/Adjusted EBITDA US$ Billions Ratio 2.5 3.5 3.0 2.0 2.5 1.5 2.0 1.5 1.0 1.0 0.5 0.5 0.0 0.0 2017 2018 2017 2018 53 percent increase in free cash flow driven by Strong balance sheet with net debt to improving market conditions, optimiz
Slide 8: Market Fundamentals and Performance
Market Fundamentals and Performance INVESTOR PRESENTATION February 26, 2019
Slide 9: Cash Grower Margins
Cash Grower Margins 9 Cash Grower Margins1 Local Currency Margin/Acre US Corn US Soybeans US Wheat US Cotton CAN Canola BRZ Soybeans 350 1,800 300 1,600 1,400 250 1,200 200 1,000 150 800 600 100 400 50 200 0 0 Increased corn acreage in US and Brazil supportive of 2019 crop input demand 1 2016-2017 m
Slide 10: Retail: Long Term Growth of Margins and Earnings
Retail: Long Term Growth of Margins and Earnings 10 11% $1,500 EBITDA (US$ Millions) Retail EBITDA Margin $1,350 10% $1,206 $1,119 $1,145 $1,200 $1,091 $1,033 $986 9.5% 9.5% 9% $951 9.3% $900 $769 8.6% 8.5% 8% 8.3% 8.3% $600 7.5% 7% $300 6% 5% $0 1 2011 2012 2013 2014 2015 2016 2017 2018 2019F Resil
Slide 11: Global Potash Supply & Demand
Global Potash Supply & Demand 11 Global Potash S&D Global Utilization Rate1 Million Tonnes KCl Percent Demand* 100% 80 Operational Capability 70 95% 60 90% 50 85% 40 30 80% 20 75% 10 70% 0 Expect demand growth and capacity closures to offset capacity additions; operating rates expected to be at or a
Slide 12: Global Nitrogen Supply & Demand
Global Nitrogen Supply & Demand 12 Global Nitrogen S&D Global Utilization Rate1 Million Tonnes Nitrogen Percent 180 Demand* Operational Capability 100% 160 95% 140 120 90% 100 85% 80 60 80% 40 75% 20 0 70% Relatively stable capacity utilization in 2019 followed by potential for rapid tightening 1 Ba
Slide 13: Capital Allocation
Capital Allocation INVESTOR PRESENTATION February 26, 2019
Slide 14: Multiple Levers to Grow Earnings and Deliver on Capital Priorities
Multiple Levers to Grow Earnings and Deliver on 14 Capital Priorities Merger Synergies Capital Priorities Retail Stability $600 Million Invest in $50-$140 Million annual run-rate synergies Growth expected Retail EBITDA expected to be achieved by end (Focus on growing Retail, growth per year of 2019
Slide 15: Nutrien Provides Unique Investment Opportunity in the Agriculture Sector
Nutrien Provides Unique Investment Opportunity in 15 the Agriculture Sector Leading position in both retail/distribution (stable & growing earnings base) and crop nutrient production Clear line of sight on expected $600M in annual operating synergies; $521M run rate achieved as at December 31, 2018
Slide 16: Thank you!
Thank you! For further information please visit Nutrien’s website at: www.nutrien.com Follow Nutrien on: twitter.com/nutrienltd facebook.com/nutrienltd linkedin.com/company/nutrien INVESTOR PRESENTATION February 26, 2019
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