CANADIAN PHOSPHATE LIMITED — Capital/Financing Update 2021

Apr 6, 2021

6 April 2021

ASX RELEASE / MEDIA RELEASE

==> picture [244 x 74] intentionally omitted <==

Fertoz Rights Issue Closes Over-Subscribed, Raising $1.519m

HIGHLIGHTS:

• Rights issue over-subscribed by almost 40%, raising $1.519m, just over the maximum amount of $1.5m contemplated in the Offer Document

• Investment from existing and new shareholders strongly supports Company strategy in relation to inhouse granulation, sales growth and carbon credits

• In-house granulation equipment ordered, offering potential to significantly reduce Fertoz’s operating costs

• Management is progressing strategy and sales discussions on carbon credit trading and sequestering CO2 in wheat, maize and legume planting commencing in 2021

Organic fertilizer company, Fertoz Ltd (“Fertoz” or the “Company”, ASX: FTZ) is pleased to announce the results of the Company’s Rights Issue Offer, first announced to the ASX on 8 March 2021.

Executive Chairman, Pat Avery, commented:

“ We would like to thank Fertoz shareholders for supporting this Rights Issue, through which we have raised $1.519 million – a significant oversubscription to the funds we originally sought through this exercise. We were pleased to see that many shareholders applied for additional rights, including most of our largest shareholders. New shareholders have also joined the Company and we welcome those to an exciting time in the growth of Fertoz.

“We have now ordered the granulation equipment to undertake our own granulation of fertilizer blends in Butte, Montana. Granulated fertilizer is our most popular product, and we expect insourcing granulation to significantly reduce our operating costs. In addition, we have progressed our carbon trading strategy and are in discussions with several farmers and carbon dioxide emitters to use crops to offset carbon emissions. We look forward to updating the market on the progress of these discussions in the near future.

“Importantly, the weather is improving, so even though we have previously been hampered with deliveries, and one of our contract granulators has experienced mechanical delays, we are getting back on track with deliveries. The Fertoz team is now intently focused on the spring selling season. Orders have been steady and growing, and in Australia, FertAg is also seeing increased interest and new orders. We look forward to providing further updates as our operations continue to develop.”

Fertoz will issue 30,395,999 new shares, representing $1,519,799.95 of gross proceeds. Of these shares 13,569,090 shares were applied for by eligible shareholders under the rights issue and 15,221,971 were applied for under the shortfall offer. Company Directors have agreed to apply for an additional 1,604,938

shares raising $80,246.90 which will be issued subject to receipt of shareholder approval.

Post completion of the Rights Issue Offer with oversubscriptions and directors shortfall applications, the issued capital of Fertoz will be 185,717,627 fully paid ordinary shares.

Offer	Offer	Shares	$	$
Rights Issue		13,569,090	$678,454.50
Shortfall Offer		8,619,714	$430,985.70
Additional shares applied for by directors subject toshareholder approval under ASX Listing Rule 10.11		1,604,938	$80,246.90
Additional shortfall applications accepted under ASX ListingRule 7.1		6,602,257	$330,112.85
	.1
Total	applications	30,395,999	$1,519,799.95

The Company intends to issue the shares applied for by eligible shareholders under the Rights Issue Offer and the shortfall shares on Thursday 8 April 2021.

The Directors wish to thank all shareholders for their continued support.

Authorised by the Board of Directors.

For further information, please contact:

Pat Avery Tim Dohrmann Executive Chairman Investor and Media Enquiries Fertoz Limited NWR Communications m: +1 720 413 4520 m: +61 468 420 846

www.fertoz.com