Mr. Neil Wiens reports

REPLENISH NUTRIENTS PROVIDES PRODUCTION UPDATE ON BEISEKER AND CROOKSTON FACILITIES

Replenish Nutrients Holding Corp. has provided an update on its three fertilizer facilities -- the Beiseker granulation facility and the Beiseker Hutterite colony pellet facility in Alberta and the licensed Farmers Union pellet facility in Crookston, Minn. -- ahead of investor meetings this week and its third quarter 2026 financial results, expected by the end of November, 2026.

Highlights

• Fourth quarter 2026 outlook: fertilizer sales volumes and revenue are expected to increase significantly over the third quarter as the Beiseker and Beiseker colony facilities ship into the fall season, with an initial contribution from the Crookston facility;
• Beiseker granulation facility: operating one shift with an expanded operating team, moving to 24-hour production by the end of 2026;
• Beiseker Hutterite colony pellet facility: production increasing; first commercial sales of the company's patented SuperKS pellet fertilizer completed in October, 2026, as guided;
• Crookston pellet facility: commissioning has gone well, low-volume production is under way, and first commercial sales are expected before the end of 2026;
• Beiseker pellet expansion: design, permitting and equipment planning under way for the 150,000-metric-tonne facility, with completion targeted for the first quarter of 2028.

Beiseker granulation facility

The Beiseker granulation facility is operating one shift with consistent production. The operating team has been expanded and equipment and process improvements are in place. Reaching the facility's design capacity of approximately 2,000 metric tonnes per month requires 24-hour operations, which the company will begin by the end of 2026, with production at design capacity building through 2027 in line with demand.

Beiseker Hutterite colony pellet facility

Production at the Beiseker Hutterite colony pellet facility continues to increase, and in October, 2026, the facility completed its first commercial sales of the company's patented SuperKS pellet fertilizer, in line with the company's guidance for initial sales in the fourth quarter. Volumes will continue to build toward the facility's targeted capacity of approximately 1,600 metric tonnes per month as the colony facility gains experience with its two pelletizers. The colony facility's commissioning experience has been applied directly at the Crookston facility and will carry into the company's future pellet facilities, including the Beiseker pellet expansion and potential partnerships with other Hutterite colonies.

Crookston pellet facility (Farmers Union)

Commissioning at the Crookston, Minn., pellet facility, licensed to Farmers Union Enterprises Inc. (FUE), has gone well, supported by the Beiseker colony experience. Low-volume production has begun, and consistent commercial production is expected in the coming weeks, with first commercial sales before the end of 2026. As 2027 will be the facility's first full season, the company now expects the Crookston facility's volumes to build through the 2027 spring application season toward its initial single-shift rate of 50,000 metric tonnes per year, rather than reaching that rate by the end of 2026 as previously expected. The facility can produce approximately 100,000 metric tonnes per year with additional shifts. The Crookston facility is the company's first U.S. production and, at a scale comparable with the Beiseker pellet expansion, will inform the company's future pellet facilities.

MJ Ag Solutions facility

MJ Ag Solutions has completed commissioning of its licensed pellet facility in Northern Alberta. Initial production and sales are targeted for late in the fourth quarter of 2026 as MJ Ag completes its operating team, with modest initial volumes continuing into the first half of 2027.

Beiseker pellet expansion

Design, permitting and equipment planning are under way for the 150,000-metric-tonne-per-year Beiseker pellet expansion, with completion targeted for the first quarter of 2028. The company's equity share is financed by the $15-million strategic investment from SRC Agrominerals, with the balance to come from project debt and government grant financing. Operating experience from the Beiseker colony and the Crookston facility will support the project's design and a faster commissioning period.

Third and fourth quarter 2026 outlook

As previously disclosed, 2026 is a transition year as the company shifts from lower-margin blended fertilizer to granulated and pellet fertilizer from its new facilities. Fertilizer sales volumes in the third quarter of 2026 (ended Sept. 30, 2026) were low, and commissioning costs were carried over limited volumes, partially offset by positive gross profit from the company's power segment. Production has increased more slowly than originally expected as equipment, processes and logistics were calibrated at the new facilities; the facilities' design capacities are unchanged. Fourth quarter fertilizer sales volumes and revenue are expected to increase significantly over the third quarter as the Beiseker and Beiseker colony facilities ship into the fall application season and the Crookston facility begins commercial production, with gross margins improving as fixed costs are spread across higher volumes.

Liquidity

Based on preliminary, unaudited figures, the company ended the third quarter with approximately $3.9-million of cash and $7.4-million of inventory, reflecting the normal seasonal build ahead of the fall application season and the Crookston start-up, and approximately $4.5-million of accounts payable and accrued liabilities. Following the closing of the $15-million strategic investment from SRC Agrominerals in July and August, 2026 ($1-million of which was applied as a carbonatite prepayment under the SRC supply agreement), the company repaid its revolving credit facilities in full. The $5.45-million of revolving credit facilities remain undrawn and available, giving the company approximately $9.4-million of cash and available credit at Sept. 30, 2026, plus inventory that will convert to cash as it is sold through the fall and spring application seasons. Final figures will be reported with the company's third quarter 2026 financial results.

Investor meetings

Members of management will be presenting and meeting with investors at Planet MicroCap Toronto 2026, powered by MicroCapClub, from Oct. 27 to Oct. 29, 2026. An updated corporate presentation is available on the company's website.

Chief executive officer commentary

"Each of our three facilities took an important step forward this fall," said Neil Wiens, CEO of Replenish Nutrients. "Expanding the Beiseker operating team ahead of 24-hour operations, completing the first pellet sales at the Beiseker colony and bringing Crookston into production are what turn installed capacity into consistent volume and revenue growth. The ramp took longer than we planned, and our third quarter results will show that. The fourth quarter will be significantly stronger, and, as we head into spring 2027 with all three facilities producing, our focus is on reliable operations, filling customer orders and lowering unit costs as volumes grow."

About Replenish Nutrients Holding Corp.

Replenish Nutrients Holding manufactures and sells proprietary fertilizer products containing essential macronutrients and micronutrients and biological material while using a proprietary zero-waste manufacturing process.

We seek Safe Harbor.