Investor presentation AGM May2014

ANNUAL GENERAL MEETING

MAY 13, 2014

TSX: MBC WWW.MBACFERT.COM

MBAC FERTILIZER CORP.

SAFE HARBOUR

Disclaimer: The contents are not to be reproduced or distributed to any third party, including the public or press. The information

contained herein, while obtained from sources which we believe are reliable, is not guaranteed as to its accuracy or

completeness. The company is a development stage mineral resource exploration company and many of its mineral

projects have yet to be proven to be economic. Certain information set out herein in relation to the Company’s

advanced projects is based on technical reports that are in compliance with NI 43-101 that are not yet final. The reader

is cautioned that such information is subject to change, although management does not anticipate any material

deviations. The contents of this presentation is for informational purposes only and does not constitute an offer to sell

or a or a solicitation to purchase any securities referred to herein

Forward looking statements This presentation includes certain forward-looking statements about future events and/or financial results which are

forward looking in nature and subject to risks and uncertainties. Forward-looking statements include without limitation,

statements regarding the company’s plans, goals or objectives and future completion of mine feasibility studies, mine

development programs, capital and operating costs, production, potential mineralization, resources and reserves,

exploration results and future plans and objectives of MBAC. Forward-looking statements can generally be identified by

the use of forward-looking terminology such as "may," will," "expect," "intend," "estimate," "anticipate," "believe," or

"continue" or the negative thereof or variations thereon or similar terminology. There can be no assurance that such

statements will prove to be accurate and actual results and future events could differ materially from those anticipated

in such statements. Important factors that could cause actual results to differ materially from expectations include risks

associated with mining generally and pre-development stage projects in particular. Potential investors should conduct

their own investigations as to the suitability of investing in securities of MBAC Fertilizer Corp.

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INTRODUCTION

Cristiano Melcher

Background - in the resource, fertilizer and chemical sectors, primarily in Brazil

Chief Executive Officer of Fosbrasil, the leading purified phosphoric acid producer in

South America

Executive Director and board member of Copebras, a leading Brazilian phosphate

fertilizer producer owned by Anglo American PLC

Held positions within the Anglo organization including Head of Marketing, Strategy,

Business Development and Asset Optimization for Phosphates, Nickel and Niobium,

Head of the Phosphate and Niobium Business Unit and Vice President Corporate Finance

Board member of industry sector associations including:

SINPRIFERT (Association of Fertilizer Producing Companies)

ABIQUIM (Association of the Brazilian Chemical Industry)

Graduate degree in Industrial Engineering from the Escola Politécnica da Universidade

de São Paulo and MBA from INSEAD, France

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VISION

MBAC VISION

To be a significant integrated producer of

phosphate fertilizers in the Brazilian market

Strong market fundamentals

Strategic location

Quality Assets – Itafós and Santana

Experienced management team

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Itafós

Santana

Santana


ACTION PLAN

Put the Balance Sheet on Solid Footing

The Company needs to have a healthy working capital position

Optimize the Ramp-up

Hired experienced VP Operations with a focus on maintenance

Operational Excellence

Setting up structured approach to capture value throughout the whole

organization

Position MBAC as a Supplier of Choice in its Target Region

Leverage competitive advantages

Future Growth

Greenfield and brownfield opportunities at the appropriate time

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OPERATIONS OVERVIEW


June 2011

August 2013

FROM PURCHASE TO PRODUCTION

In less than

5 years

October 2008

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OPERATIONS UPDATE

World Class Scale 8


ITAFÓS SSP PRODUCTION

Acidulation

Required: ~6 KTPA

Annual Prod.: 500 KTPA Annual Prod.: 500 KTPA

Concentrate Production

Mine Beneficiation

Sulphur Sulphuric Acid

Annual Prod.: 3,000 KTPA

Av. Grade: 5.1% P2O5

Annual Prod.: 330 KTPA

Av. Grade: 28% P2O5

Required: ~75 KTPA Annual Prod.: 220 KTPA (1)

Sulphuric Acid Plant

Generated: 6 MW

Energy

Granulated SSP “GSSP”

Annual Prod.: 500 KTPA

Granulation

Ammonia

Note: (1) Conventional contact process (2) KTPA – Thousand Tonnes Per Annum

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ITAFÓS – CURRENT STATUS

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Record production in April of 21,000

tonnes

Increased recoveries and process

stability at the beneficiation plant

The Sulphuric acid plant is providing all

required product for acidulation

The acidulation plant is operational at

design capacity

The granulation plant has demonstrated

reliable and consistent production

Acidulation & Granulation Plant


SALES OVERVIEW


Greece

Ukraine

Bosnia

Croatia

Macedonia

Iceland

Yugoslavia

Norway

Finland

Switzerland

Belarus

Austria Hungary Romania Netherland Lithuania Italy Poland Estonia

Czechoslovakia

France

Ireland

Belgium

Albania

Portugal

Spain Bulgaria

United Kingdom

Germany

Latvia

Denmark

Sweden

BRAZIL LAND AREA

Total area of 32 Countries in Europe

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BRAZIL LAND AREA AVAILABLE FOR

EXPANSION Apart from the legal reserve set by Brazilian environmental legislation, a study from EMBPRABA

(Brazilian Company of Agricultural Research) about occupation of areas, asserts that the availability of

arable land is around of 34 million hectares

Beyond this potential, degraded pasture areas in Brazil is estimated to be approx. 45 million hectares

which could be partially converted to crops.

Any land converted from pasture use to farmlands adds further expansion potential.

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Million ha %

Conservation Areas and Natives 229.4 27.0

Legal Reserve 279.9 33.0

Planted Forest 7.0 1.0

Annual Crops 61.3 7.0

Permanent Crops 18.4 2.0

Cities, Lakes, Roads, etc. 22.0 3.0

Pastures 199.7 23.0

Available Areas 33.7 4.0

Total Brazil 851.4 100.0

Source: IBGE; EMBRAPA; Agroconsult


Timac

Candeias – BA (SSP)

Cibrafertil

Camaçari – BA (SSP)

Galvani

Luiz E. Magalhães – BA (SSP)

Vale

Catalão – GO (SSP)

Vale

Patos de Minas – MG (SSP)

Vale

Uberaba – MG (SSP), (TSP), (MAP)

Anglo Fosfatos

Catalão – GO (SSP)

(TSP)

(MAP)

Vale

Araxá – MG (SSP)

Timac

Santa Luzia do Norte –AL (SSP)

Vale

Guará – SP (SSP)

Anglo Fosfatos

Cubatão – SP (SSP)

Vale

Piaçaguera – SP (MAP)

Vale

Cubatão – SP (SSP)

Yara

Rio Grande – RS (SSP)

Timac

Rio Grande – RS (SSP), (TSP)

Yara

Rio Grande – RS (SSP), (TSP)

Galvani

Paulínia – SP (SSP)

Itafós

Arraias – TO (SSP)

LOGISTIC ADVANTAGE

Scale: in Kilometeres

1000 500

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35%

65%

Typical Seasonality (%)

H1 H2

CUSTOMER COMPOSITION AND

SEASONALITY

Focus is on wholesale fertilizer sales

including blenders, traders,

cooperatives and mega farms

Sales are seasonal with approx. 70%

of the deliveries concentrated in the

second half of the year

34%

50%

9%

7%

Composition of Buyers 2014

Regional Blenders

National Blenders

Trading Companies

Large farmers

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DEVELOPMENT PROJECTS

17 MBAC FERTILIZER CORP.

SANTANA PROJECT OVERVIEW

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Santana contains one of the highest grade phosphate resources

in Brazil

Flexibility to produce higher value-added products (TSP, MAP and DCP)

Area is one of the largest agricultural markets in Brazil

Mato Grosso state is the largest fertilizer consumer in Brazil

The municipality of São Felix do Xingu (PA) has the largest number of cattle in Brazil

Plan View of The Mineralized Domain


FINAL REMARKS


FINAL THOUGHTS

Fundamentals of the Brazilian agribusiness remain strong

Itafós Plant operations have shown significant progress providing

confidence that we will achieve our strategic plans

Sales volumes have exceeded expectations

Attractive project pipeline provides company with interesting options

for organic growth

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QUESTIONS?

Documents

Investor presentation AGM May2014