TRC Announces Termination of the Tender Offer for Nutrien Ltd.

TORONTO, May 11, 2023 (GLOBE NEWSWIRE) -- TRC Capital Investment Corporation ("TRC") announced today that it has terminated its previously announced cash tender offer to purchase up to 1,000,000 common shares (the "Shares") of Nutrien Ltd. All Shares that have been validly tendered (and not validly withdrawn) will be returned promptly to the respective holders thereof without any action required on the part of the holders. No consideration will be paid in the Tender Offer for any tendered Shares.

Consummation of the Tender Offer was subject to the satisfaction or waiver of the conditions set forth in the offer to purchase dated April 5, 2023 (the "Offer to Purchase"), including the market price condition described therein, which was not satisfied. TRC has decided to withdraw from this transaction. This notice confirms the termination of the Tender Offer.

This notice is neither an offer to purchase nor a solicitation of an offer to sell any Shares or any other securities. Persons with questions regarding the Tender Offer should contact the information agent, CNRA Financial Services Inc. at (416) 861-9446.