The potash market in 2026

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Third-party recommendation (Art. 8 DelVO 2016/958): Unaltered reproduction of an advertising article created by a third party · Original creator: SRC swiss resource capital AG · First publication (original): February 10, 2026, 5:35 a.m. Berlin/Zurich · Link to the original publication ·

Advertisement/Promotion – This article is disseminated on behalf of Millennial Potash Corp., with which SRC swiss resource capital AG has paid IR consulting agreements. Creator: SRC swiss resource capital AG · Author: Ingrid Heinritzi · First published: February 10, 2026 ; 5:35 a.m. Zurich/Berlin

The war in Ukraine is still ongoing, and Belarus remains part of the sanctions environment as an important potash supplier. Recently, there have been selective easing of restrictions on individual Belarusian potash transactions, but this does not constitute a general lifting of sanctions. At the same time, geopolitical risks and logistical disruptions can shift trade flows in the short term. The global potash market is highly concentrated, with Canada, Russia, and Belarus among the most important producers. Many agricultural commodity prices are below the highs of recent years. Nevertheless, global demand for fertilizers remains high because nutrient depletion and yield protection continue unabated. Potash demand has also not been linear since 2020: phases of normalization were followed by a significant recovery. USDA data show a very strong to near-record corn harvest for 2025, while wheat volumes are also solid. For the fertilizer market, it is crucial that high yields bind nutrients in the long term and must be replaced.

But Europe also needs not only critical raw materials such as rare earths to free itself from dependencies, but also mineral raw materials such as potash fertilizers. Potash fertilizers are indispensable for food security because potassium is a key plant nutrient. High-purity potassium chloride is also used in medicine as an electrolyte preparation. An adequate supply of fertilizer is equally important for Africa, for example, which has had to import large quantities of potash to date, or for major importing countries such as Brazil.

Millennial Potash (WKN: A3DXEK) is establishing itself in Gabon with its Banio potash project. The company has launched the definitive feasibility study (DFS), initiated the environmental and social impact assessment (ESIA), and announced Phase 3 drilling as the next technical step. Cantor Fitzgerald led a bought deal LIFE financing that generated gross proceeds of approximately CAD 17.54 million. In addition, a simultaneous non-brokered financing of CAD 750,000 was announced. Banio is located on the Atlantic coast of Gabon and aims to serve import markets in North and South America and Africa in the long term.

Millennial Potash (WKN: A3DXEK) - https://www.rohstoff-tv.com/mediathek/unternehmen/profile/millennial-potash-corp/ - reported a significant jump in its latest resource update: measured & indicated resources increased by 275%, inferred resources by 210%. Brazil is one of the world's most important import markets for potash fertilizers. Banio is perfectly positioned on the Atlantic coast of Gabon, close to central shipping routes. Another positive factor is that, following its latest purchase, major shareholder The Quaternary Group Ltd. now holds 32.02% of Millennial Potash (WKN: A3DXEK) on a fully diluted basis (common shares plus warrants), demonstrating a visible commitment to the project and the management.

Current company information and press releases from Millennial Potash (- https://www.resource-capital.ch/de/unternehmen/millennial-potash-corp/ -).

Sources: https://www.20min.ch/story/kali-abbau-belarus-laesst-fuer-gelockerte-us-sanktionen-123-gefangene-frei-103469302, USDA (Crop Production Annual Summary 2025): https://esmis.nal.usda.gov/sites/default/release-files/795725/cropan26.pdf, Natural Resources Canada (Potash facts): https://natural-resources.canada.ca/minerals-mining/mining-data-statistics-analysis/minerals-metals-facts/potash-facts/20521, USGS (Mineral Commodity Summaries - Potash):https://pubs.usgs.gov/periodicals/mcs2025/mcs2025-potash.pdf, Reuters (Belarus/Potash sanctions relief): https://www.reuters.com/business/us-eases-sanctions-three-belarus-potash-companies-after-prisoner-release-2025-12-15/, Millennial Potash (News/Company Announcements):https://millennialpotash.com/news/,  Millennial - Bought-Deal LIFE + Concurrent Financing: https://millennialpotash.com/news/millennial-closes-bought-deal-life-offering-of-17-537-500-and-concurrent-non-brokered-private-placement-for-total-proceeds-of-18-287-500

In accordance with Section 85 of the German Securities Trading Act (WpHG) in conjunction with Article 20 of MAR/Regulation (EU) 2016/958, we hereby disclose that authors/employees/affiliated companies of Swiss Resource Capital AG (SRC) may hold positions (long/short) in the issuers discussed. Remuneration/relationship: IR contracts/advertorial: Own positions (author): none; SRC net position: less than 0.5%; issuer's ≥ 5% stake in SRC: no. Update policy: no obligation to update. No guarantee for the translation into German. Only the English version of this news is valid.

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