Pedro Farah

“As Ken highlighted, we raised our outlook for global potash demand in 2024, increased our annual potash sales volume guidance to 13.2 to 13.8 million tonnes. Our sales volume range factors in the potential for a relatively short duration Canadian rail strike in the second half of 2024.”

“As highlighted in our news release, we have maintained our 2024 retail earnings and fertilizer sales volume ranges as market conditions and operational performance have progressed in line with our previous expectations.”

“As disclosed in our earnings release, we have revised our guidance practice in 2024 to focus on providing forward-looking estimates that we believe are of value to our shareholders and are less impacted by changes in fertilizer commodity prices.”

“I will start with our updated guidance for potash. We increased the bottom end of our full-year potash adjusted EBITDA and sales volume guidance to reflect the strength of our market fundamentals in North America.”

“Our second quarter performance illustrated the contrast between how the market has progressed in North America compared to certain offshore markets. Nutrien delivered adjusted EBITDA of $2.5 billion in the second quarter and $3.9 billion through the first half of the year.”