Q4 2013 & YEAR END RESULTS

MARCH 27, 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.

2

MBAC FERTILIZER CORP.

ON TODAY’S CALL

3

Peter Marrone Chairman of Board

Cristiano Melcher President & Chief Executive Officer

Rodrigo Pinto Chief Financial Officer

Introduction

Operations Overview Production and sales

Financial Overview Results & Financial Initiatives

MBAC FERTILIZER CORP.

This is a changed Company

Successfully advanced the three

focal points:

Production

Sales

Liquidity

Company in much better shape

INTRODUCTION

4

FINISHED PRODUCT

MBAC FERTILIZER CORP.

OPERATIONS UPDATE

MBAC FERTILIZER CORP.

Sulphur Yard

Sulphuric Acid

Plant

Fertilizer Plant Beneficiation

Plant

Phosphate Yard

OPERATIONS UPDATE

6

MBAC FERTILIZER CORP.

ITAFÓS OPERATIONS

7

Production at the beneficiation

plant for the year is in line with the

budget and continues to ramp up

confirming robustness of process

The Sulphuric acid plant is

providing all required product for

acidulation as well as excess

sulphuric acid which is being sold

into the market

The acidulation plant has

demonstrated ability to hit targeted

volumes

The granulation plant production

has been controlled according to

the working capital availability

Beneficiation Plant

MBAC FERTILIZER CORP.

SALES UPDATE

8

Delivered 21,146 tonnes in

2013

Expect to deliver 335-365

ktonnes in 2014

Have firm sales of 110,000

tonnes through mid -March

2014 SSP prices expected

to be consistent with 2013

PRODUCT DELIVERY

FINANCIAL HIGHLIGHTS

MBAC FERTILIZER CORP.

FY2013 FINANCIAL STATEMENTS

10 10 10

Adjusted net loss of US$17

million or US$0.12 basic and

diluted adjusted loss per share

Debt reclassification to short-

term due to IFRS accounting

rules (different results under

previous Canadian GAAP and

current US GAAP)

Going concern consequence

of the reclassification

Subsequent events supported

the Company’s needs such as

prepayment of receivables,

new short-term working capital

facilities and extension of

existing working capital loans

MBAC FERTILIZER CORP.

NEAR TERM FUNDING AND LT DEBT REPROFILE

11 11 11

Strong support from our financial

partners

Near term needs of the Company

Re-profiling of LT debt

Near-term funding

Received a LOI from IFC for a

working capital facility of up to

$40 million

Announced an equity raise of

C$ 18 million

Long-term solution:

Well advanced negotiations with

our lenders

we are highly confident that a

debt repayment extension of 18

– 30 months will be executed

This extension will reduce the

cash outflows of the Company

$13 million in 2014

$46 million in 2015

MBAC FERTILIZER CORP.

QUESTIONS?