Nutrien Prices Offering of an Aggregate of US$1 Billion of 2-Year and 3-Year Senior Notes

Nutrien Ltd. (TSX and NYSE: NTR) today announced the pricing of US$500 million aggregate principal amount of 5.900 percent senior notes due November 7, 2024 and US$500 million aggregate principal amount of 5.950 percent senior notes due November 7, 2025 (together, the "senior notes"). The offering is expected to close on or about November 9, 2022, subject to customary closing conditions. The senior notes, registered under the multi-jurisdictional disclosure system in Canada and the United States, will not be offered in Canada or to any resident of Canada.

Nutrien intends to use the net proceeds from this offering to reduce outstanding indebtedness under its short-term credit facilities, to finance working capital and for general corporate purposes. The senior notes will be unsecured and rank equally with Nutrien's existing senior unsecured debt. The joint book-running managers for the offering are Barclays Capital Inc., BofA Securities, Inc., Goldman Sachs & Co. LLC, RBC Capital Markets, LLC, Scotia Capital (USA) Inc. and TD Securities (USA) LLC.

The offering will be made by way of a prospectus supplement dated November 7, 2022, to Nutrien's short form base shelf prospectus dated March 11, 2022, filed with the securities regulatory authorities in each of the provinces of Canada, which forms a part of and is included in Nutrien's registration statement on Form F-10, filed in the United States with the Securities and Exchange Commission (the "SEC") under the multijurisdictional disclosure system. A final prospectus supplement in respect of the offering of the senior notes will be filed with the same regulatory authorities in Canada and the SEC.

About Nutrien

Nutrien is the world's largest provider of crop inputs and services, playing a critical role in helping growers increase food production in a sustainable manner. We produce and distribute approximately 27 million tonnes of potash, nitrogen and phosphate products world-wide. With this capability and our leading agriculture retail network, we are well positioned to supply the needs of our customers. We operate with a long-term view and are committed to working with our stakeholders as we address our economic, environmental and social priorities. The scale and diversity of our integrated portfolio provides a stable earnings base, multiple avenues for growth and the opportunity to return capital to shareholders.