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PPL

PRIMEFIELD POTASH LTD. PPL. Disclaimer. Except for historical information, this presentation contains forward-looking statements, which reflect the Company's current expectation regarding future events.

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PPL

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  1. PRIMEFIELD POTASH LTD PPL

  2. Disclaimer Except for historical information, this presentation contains forward-looking statements, which reflect the Company's current expectation regarding future events. These forward-looking statements involve risks and uncertainties, which may cause actual results to differ materially from those statements. Those risks and uncertainties include, but are not limited to, changing market conditions, and other risks detailed from time-to-time in the Company's ongoing filings. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events in this presentation might not occur. MagMinerals – Company Presentation Sep 2008 1

  3. Primefield Potash 62% Pre-IPO 100% 100% Primefield Potash Project (PFP) Forest Products (Eucalyptus) (FROC) Hydroelectric Developments (Zungeru) 2

  4. FEDERAL REPUBLIC OF NIGERIA – ATTRACTIVE FOR INVESTMENT Federal Republic of Nigeria • Location of Prime field Potash project • Single party dominance, stable country • Population: over 170 Million people • Major multinationals (TOTAL, Chevron-Texaco, ENI) operating uninterrupted for ~30 years PPL Experience in the Federal republic of Nigeria • 22-year operating history in the FRON (licensed in 2011) • Senior management with deep roots in the country/continent • Junior non-government employer through PPL Forestry 3

  5. Current: US$600 – US$1,000 per tonne (June. 2008) Source: Resouce Investing News Potash Market Dynamics Potash Price Forecast (Brazil CFR) • Global potash consumption to grow 14 MM tonnes/yr by 2020 • Higher crop demand from population growth and biofuels • Global grain restocking and potash catch-up are drivers • India/China have official policies to increase potash use • Most new capacity controlled by major producers (2011+) • PRIMEFIELD POTASH NIGERIA has one of the only investable near-term production plays outside of the majors 4

  6. Key Potash Market: • Nigeria consumption is over 1.5mm tons / yr • Brazil 3rd largest importer of potash 4.4mm tons/yr • Strong potash demand globally /limited supply +2.6 MM Tonnes/yr (+59%) vs. 2008 1Source: Fertecon 5

  7. Prime field Potash Location Advantages Shortest shipping distance to Africa Countries, Brazilian, and Asia 6

  8. Rail and Handling to Vancouver Free on Rail - Saskatchewan Freight and Related Costs – VCR to Brazil FOB Vancouver Price CFR Brazil pricing Freight and related costs – PN to Brazil ~$846 Free on Rail – Primefield Potash Facility FOB Pointe-Noire Build-up for Brazil sales $780 $66 Net Realized Price Advantage vs. Cana. ($40) $820 ($80) $900 ($54) Notes: Freight and related costs include shipping, storage, stevedoring, insurance, LC charges, technical losses and inspection costs. Freight and related costs based on management estimates. 7

  9. Primefield Potash in Context 8

  10. Primefield Potash Plant Design • Proven technology from leading equipment manufacturer (HPD) • Same process as Dead Sea Works facility (Israeli Chemicals) • Current process in commercial operation since early 1980’s • Scale Model: • Phase I in Blue • Phase II in White 9

  11. PPL Potash Assets Video

  12. Snap shot of the Primefield Potash Project Phase Phase I Phase II • 600,000 tpy potash plant • 600,000 tpy expansion Description • Feasibility study Feb/16 • Debt financing Sep/16 • Construction start Oct/16 • NI 43-101 updated in August 2015 • Final feasibility H1 2016 Status/ Targeted Timing • US$60+MM development costs spent to date • Construction US$723MM • Includes Phase II infrastructure • Technical feasibility update (June 2015) indicates US$423 MM Construction Cost Estimate • Target debt-to-equity of 70:30 • Target debt-to-equity of 70:30 Project Financing • Mid 2018 • Late 2019 – Early 2020 Production Start-up 11

  13. Blue Chip Project Team 12

  14. Blue Chip Project Team 13

  15. Discovery historically (1958-1990) Production conventional (2006-2015) Proven & Probable Reserves (KCl) Proven and Probable Reserve Life (@ 600k tpy) 43-101 Inferred Reserves (KCl) Exclusive Rights to Significant Resource Mineral Exploration Area = 1,472 km2 Exploitation Permit = 215km2 Resource Report 11 12 xxx MMt xxxx MMt 120 years 14

  16. Low Cost Operation • Transportation cost advantages • Only 680km to 10 acre port site • Shortest sailing distance to Africa countries, to Brazil and others • Low cost energy access • 25-year power supply agreement in documentation stage • Allows low cost, short construction time solution mining application • Positive labour conditions • Available low cost local labour • Strong reputation through PrimefieldForestry Potential for best economics in the industry 15

  17. Accomplishing Milestones - 2015 Exploration License Secured • Exploration license secured $101MM Financing on Ecpected CEO Joins Team April 2014 Off-take Agreement • $101 million for Primefield JV Minerals ($4.00 per share) • 5% dilution penalty if public-listing not met by Oct. 3, 2015 • Broad institutional participation • Construction deposit, site prep, and $25MM loan repayment Strategic Investors Fund $105MM Energy Supply Finalize Potash Investment Agmt Listing of Shares on TSX Construction Progress Update of Reserve Estimate 16

  18. Accomplishing Milestones - 2015 Exploration License Secured Oct 1, 2015 • CEO joins the team • With International experience • Participated or led in build-out of large industrial projects in various countries • Holds 3 masters degrees (science, engineering, business), speaks 5 languages and has lived in 4 countries $101MM Financing Completed CEO Joins Team Off-take Agreement Strategic Investors Fund $105MM Energy Supply Finalize Potash Investment Agmt Listing of Shares on TSX Construction Progress Update of Reserve Estimate 17

  19. Accomplishing Milestones - 2015 Exploration License Secured Nov 27, 2015 • Z Co.awarded exclusive 12-year potash marketing agreement • Governs the sale of 1.2MM tpy of potash (both Phases) • Z Co. announces a $70MM strategic investment ($5.00/sh) • Announced $35MM strategic investment by the president of a top FRON construction firm ($12 MM cash + $23MM paid-in-kind) • Both strategic expected to contribute to success of project $101MM Financing Completed CEO Joins Team Off-take Agreement Strategic Investors Fund $105MM Power/Energy Supply Finalize Potash Investment Agmt Listing of Shares on TSX Construction Progress Update of Reserve Estimate 18

  20. Accomplishing Milestones - 2015 Exploration License Secured Dec 2015 • Official minutes outlining power/energy supply understanding between FRON government, x Co and PPL • Formal supply agreement with X Co in drafting • Pipeline construction started $101MM Financing Completed CEO Joins Team Z Co Off-take Agreement Strategic Investors Fund $105MM Power/Energy Supply Finalize Potash Investment Agmt Listingof Shares on TSX Construction Progress Update of Reserve Estimate 19

  21. Update of NI43-101 Reserve Estimate • Ercosplan provided update of 43-101 reserve report (released Jan 2016) Construction Progress • Site earthworks preparation started • Long lead time items contracted • All major purchasing packages being prepared Potash Investment Agreement • Gas, rail and port agreements complete • Water & construction permits • ESIA agreement Listing of Shares • Filed preliminary prospectus in Canada on Jan, 2016 Accomplishing Milestones - 2015 Exploration License Secured $101MM Financing Completed CEO Joins Team Z Co Off-take Agreement Strategic Investors Fund $105MM Natural Gas / Power Supply Finalize Potash Investment Agmt Listing of Shares on TSX Construction Progress Update of Reserve Estimate 20

  22. NPV Sensitivity to Pricing Pricing assumptions: Resource News Sensitivity to Potash Pricing* *Assumes $82 MM Phase I equity offering at $5.00/share and $160 MM Phase II offering at $12.00/share. 21

  23. Primefield Potash Ownership Pre IPO Shares % • PPL JV Industries 96,000,000 62.0% • Z Marketing Co 14,000,000 9.3% • Q Construction Co. 7,000,000 4.6% • Other Investors 25,000,000 16.7% • Employee Options 10,500,000 7.0% • Total 152,750,000 100.0% 22

  24. Investment Highlights • Pure play exposure to attractive potash sector • Exclusive rights to large potash carnallite deposit • Strategic location relative to high demand potash end-markets • Proximity to high-capacity port with existing rail capabilities • Significant input and operating cost advantages • Blue chip project team of engineers, contractors, equipment providers and financiers • Construction to begin in H2 2015 • Senior management with deep roots in the country/continent • Compelling valuation with well-defined growth potential 23

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