Millennial Potash

10/30/2026

Most of the world's potash moves on two numbers.

China settled its 2026 potash contract at US$348 a tonne. India settled at US$383. Those annual contracts are negotiated by a handful of buyers and sellers, and the rest of the market prices off them.

It is worth understanding why a developer pays attention. A project is judged on the gap between the price it can sell into and the cost it produces at. The Banio preliminary economic assessment estimated life of mine operating costs at US$61 a tonne, driven by solution mining, thick seams, simple mineralogy and a coastal load point.

The PEA is preliminary in nature, includes Inferred Resources, and there is no certainty its results will be realised. A definitive feasibility study is underway.

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Contract settlements per Fertilizer Daily and are third party market data, not Company guidance. Contains forward-looking information. See SEDAR+ at sedarplus.ca.

10/29/2026

The drill hole was not finished. That was the interesting part.

In September, on CNBC Africa, our Chairman, Farhad Abasov, described BA-006 while it was still being drilled: "We've already found very thick potash, almost 80 metres thick. But we haven't even finished this hole... we kind of left the hole still in potash layers."

A hole that ends while still in mineralization is a hole that stopped early, which means the thickness reported is a floor rather than a final number.

It has now been pushed to a final depth of 735.32 metres. Cumulative potash thickness in BA-006 is approximately 120 metres, and the hole is the first at Banio to pe*****te all known potash cycles in the area.

BA-006 sits approximately four kilometres west of BA-001, outside the 2025 resource outline and closer to the planned processing facility and port sites.

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Results per the Company's news release dated October 20, 2026. Exploration results do not guarantee resource growth. Mineral resources are not mineral reserves. See SEDAR+ at sedarplus.ca.

10/28/2026

Potash trade routes are being redrawn, quietly.

Laos shipped 2.4 million tonnes of potash to China in the first half of this year, up 72 per cent year on year. A landlocked producer that barely registered a decade ago is now a serious supplier to the largest consumer in Asia.

The lesson is not about Laos. It is that buyers move when a closer or cheaper source appears, and the potash map is less fixed than its reputation suggests.

Africa is the clearest version of that question. The continent imports substantially all of the potash it uses, and every tonne of it arrives by sea.

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Trade flow data per Bloomberg, July 2026, and is third party market data rather than Company guidance. Contains forward-looking information. Banio is pre-production and no production decision has been made. See SEDAR+ at sedarplus.ca.

10/27/2026

Reuters asked our Chair, Farhad Abasov, how big Banio starts.

"Instead of 800,000 tons, we may start with 1 million or 1.2 million tons of production per year."

The 800,000 tonne figure is the base case in the 2024 preliminary economic assessment and the scenario the feasibility study is built around. A larger start is being considered because of interest from potential buyers and financiers. It is not a decision and no tonnage above the base case has been filed.

For scale: Africa consumes roughly 2 million tonnes of potash a year and produces almost none of it.

Construction is targeted for late 2027 or early 2028, with first production around 2029 or 2030.

TSXV: MLP | OTCQB: MLPNF | FSE: X0D

As reported by Reuters, October 27, 2026. Contains forward-looking information. Every date depends on the feasibility study, permitting and financing, none of which are assured. No offtake agreements have been signed. See SEDAR+ at sedarplus.ca.

Millennial Potash aims to start construction of its US-backed Banio potash project in Gabon by the end of 2027, with annual output potentially exceeding an initial estimate of 800 000 metric tons amid growing buyer interest, its chairperson said. The Canadian resource firm is advancing a definitive....

10/27/2026

Two or three expats. Everyone else is Gabonese.

Chairman Farhad Abasov on CNBC Africa, on who actually works at the Banio Potash Project, and on the plan to train Gabonese mining and processing engineers through construction and into operations.

A project that employs the country it operates in is a project that keeps its licence to operate.

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Contains forward-looking information. See the Company's filings on SEDAR+ at sedarplus.ca.

10/23/2026

BA-006 sits approximately 4km west of BA-001, beyond the 2025 resource outline.

Drilling is now at BA-007 to the northwest. The top section of BA-008 is complete and ready for coring.

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10/23/2026

Potash logistics are usually discussed as a cost line. They are better understood as a distance.

Brazil imports 12 to 13 million tonnes of potash a year and produces almost none of it. From Banio on Gabon's Atlantic coast, the Port of Santos is 3,560 nautical miles. From St Petersburg it is 6,447. From Vancouver it is 8,491.

The preliminary economic assessment estimated shipping to Brazil at about US$22 per tonne and life of mine operating costs at US$61 per tonne. A mine that loads to a vessel at the coast does not pay to cross a continent first.

TSXV: MLP | OTCQB: MLPNF | FSE: X0D

Contains forward-looking information. The PEA is preliminary in nature, includes Inferred Resources, and there is no certainty its results will be realised. Distances per Company speaking notes dated February 24, 2026. See SEDAR+ at sedarplus.ca.

10/22/2026

Millennial Potash is not trying to displace Canadian potash.

Our Chairman, Farhad Abasov, was asked on Commodity TV whether a new African supplier competes with Canada. His answer: "Canada is still a very reliable, very strong potash supplier and for the foreseeable future it will be. But it does make sense for the US to bring in supply from a geopolitically neutral jurisdiction."

The United States imports roughly 92 per cent of the potash it uses (USGS, 2026). The question is not whether Canada is reliable. It is how much of the rest of global supply sits in jurisdictions that are not.

Sponsored interview produced by Commodity TV on behalf of Millennial Potash.

TSXV: MLP | OTCQB: MLPNF | FSE: X0D

Contains forward-looking information. Banio is pre-production and no production decision has been made. See SEDAR+ at sedarplus.ca.

10/21/2026

BA-006 was extended to a final depth of 735.32 metres.

This is what came out of it. Carnallite-rich core from BA-006, approximately 696.3m to 717.3m depth.

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10/21/2026

Africa consumes roughly 2 million tonnes of potash a year and produces almost none of it. Every tonne arrives by sea.

Millennial Potash chairman Farhad Abasov to Global Business Reports: "At least half of Banio's output can stay on the continent, meeting demand that African nations currently source elsewhere."

Banio sits on Gabon's Atlantic coast, which means tonnes load straight to ocean freight rather than crossing a continent by rail first. The same coastline that shortens the route to Brazil shortens the route to every West African importer.

Banio is pre-production and no production decision has been made.

TSXV: MLP | OTCQB: MLPNF | FSE: X0D

Contains forward-looking information. The views of the publication and interviewer are their own. Refer to the Company's filings on SEDAR+ at sedarplus.ca.