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Nutrien Ltd.

For the period ended Dec 31, 2023. Filed Mar 1, 2024.

View on SEC.gov

About this filing

The yearly report of certain Canadian companies, filed under a joint US and Canadian system. It is the main yearly account these companies give US investors, largely as filed in Canada.

FY2023 · Filed Mar 1, 2024

Use the contents to explore the available documents and sections.

NTR$71.48-1.0%Stored close · as of Nov 6, 2026
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Contents

EX-99.2 · How we create value

How we create value

Our integrated business provides a number of advantages compared to our competitors, including operational, financial and sustainability opportunities. We continue to explore ways to further enhance the capabilities of our business to capture additional benefits across the agriculture value chain.

1 | Advantaged position across the ag value chain Our integrated business provides competitive advantages to optimize operations, transportation and logistics, increase supply chain efficiencies, support volume growth, and be the key connection with the grower.

World-class production assetsGlobal supply chainLeading ag retail network
26Mmt~460>2,000
NPK manufactured sales volumes in 2023wholesale fertilizerdistribution pointsRetail selling locations across NorthAmerica, South America and Australia
~2,000>1,000>4,000
proprietary productscrop input supplierscrop consultants
OverviewMD&AFive-year highlightsFinancial statements and notes
Our company

2 | Proven financial strength and stability Our diversified Retail business enhances the stability of our earnings base and our low-cost fertilizer production assets have historically generated significant cash flow, providing the ability to invest in our business and return meaningful capital to our shareholders.

Substantial cash generationBalanced approach to capital allocation (2019-2023)
$4.8B annual average cash provided byoperating activities (2019-2023)(percent)

3 | Provider of sustainable agriculture solutions Positioned to drive long-term value creation through integration ofsustainability initiatives, from fertilizer production to grower practicesin the field.

Carbon sequestrationSustainability programCollaborative partnerships
400K900KValue chain collaborator
tonnes CO2 permanently sequesteredsustainable agriproduct
from our operations in 2023program acresto advance sustainable agriculture
OverviewMD&AFive-year highlightsFinancial statements and notes
Our company

Global profile Our world-class fertilizer manufacturing assets are primarily located in North America, with access to high-quality resources, lower cost inputs and an extensive distribution network to efficiently supply our customers. Our Retail business serves growers in key agricultural markets in North America, South America and Australia.

613
Potash mines in SaskatchewanNitrogen production and upgrade facilities in North America and Trinidad
1,4756
Retail selling locations in North AmericaPhosphate production and upgrade facilities in the US
Retail250 Retail selling locations in South America
Potash
Nitrogen
Phosphate
Joint venture and investments
European distribution
OverviewMD&AFive-year highlightsFinancial statements and notes
Our company
$19.5B$3.8B$3.8B$1.7B
Net sales 1Net sales 1,2Net sales 1,2Net sales 1,2
$1.5B$2.4B$1.9B$0.5B
AdjustedAdjustedAdjustedAdjusted
EBITDA 1EBITDA 1EBITDA 1EBITDA 1
17,0003,2001,7001,500
Number ofNumber ofNumber ofNumber of
employees 3employees 3employees 3employees 3
1For the fiscal year ended December 31, 2023.
2Related to manufactured products for Potash, Nitrogen and Phosphate.
3As at December 31, 2023.

Retail selling locations in Australia

Nutrien has four reportable operating segments: Retail, Potash, Nitrogen and Phosphate. The Retail segment distributes crop nutrients, crop protection products, seed and merchandise, and provides services, including financing, directly to growers through a network of Retail selling locations in North America, South America and Australia. The Potash, Nitrogen and Phosphate segments are differentiated by the chemical nutrient contained in the products that each produces.

OverviewMD&AFive-year highlightsFinancial statements and notes
Our company
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.