kcl accounting and finance personal statement

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Personal Statement for Accounting and Finance

Hey guys, I'm a Malaysian who's looking to apply to the UK to study in 2022.

I was wondering if anyone also studying Accounting and Finance or a similar subject could give me tips on writing a personal statement for this field.

Thanks in advance for an answer!

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Sample Personal Statement Accounting and Finance

by Talha Omer, M.Eng., Cornell Grad

In personal statement samples by field.

The following personal statement is written by an applicant who got accepted to several top accounting and finance programs. Variations of this PS got accepted at the University of Michigan, Vanderbilt, and Indiana University. Read this personal statement to understand what a top essay in Accounting and Finance should look like.

Example Personal Statement Accounting and Finance

I have never made popular choices, whether academic or professional. Where high academic achievement irrefutably means pursuing a career in Medicine or STEM, I opted for a career in management. I was free to choose a path for myself, owing to my performance during an extensive pre-induction professional training program. Fortunately, I picked a path that everyone believed was insignificant.

My decision to move to a new city to pursue my path did not receive encouragement. Making my own decisions has given me the freedom to dream and make it a reality. It has strengthened my belief that I am the only one who can bring a difference for myself and those around me. Brazil’s institutions may seem frozen, yet, at the grassroots, Brazil is in perpetual motion with ceaseless creativity. To accelerate this motion, we need to bring better and more affordable solutions; I plan to do that.

Growing up in Brazil, I have constantly questioned why we are still not growing economically despite having abundant resources. I frequently discussed the economic factors affecting us with my father, leading me to work at local NGOs and attend voluntary programs. My interest intensified when I discovered during these experiences that the unequal distribution of resources was a major cause of our economic constriction.

Moreover, our medical, engineering and academic professionals would not work in rural areas due to a lack of facilities, further debilitating the imbalance. It made me realize that we could only reap the benefits of our efforts if there were a proportionate distribution of resources. Realizing how effective mobilization of resources can aid in eradicating social ills, I developed an interest in management. This equipped me with technical knowledge and provided room for opinion building.

Pursuing this path, I joined the leading undergraduate institution in the country. The zeal with which I made this decision led me to graduate summa cum laude. While studying, I taught communication skills to undergraduate business students from rural areas. Meeting these students compelled me to get involved even though I lacked formal teaching training. Through empathy and friendly get-togethers, I was able to help these students conveniently traverse in English. With this experience, I understood that my time and energy had been well spent and that as an agent of change, one does not necessarily need to be exceptional; instead, one requires creativity, patience, and emotional intelligence.

After graduation, I followed through with my goal of facilitating change by joining the banking sector as an accounting and finance trainee. By working in Brazil’s most vital financial sector, I was exposed to diversified experiences, from being as simple as issuing customer chequebooks to designing accounting and credit proposals to the tune of USD 1.2 billion. Furthermore, while working on individual projects, I developed an in-depth understanding of international accounting rules that regulated trade transactions; the learning opportunities were immense.

Two and a half years of experience in the finance sector brought me to work for the country’s central bank. The anxiety that accompanied moving away from home for the first time was overwhelmed by my professional and personal growth. Nine months of extensive training and on-the-job assignments exposed me to interminable learning opportunities. However, my real gain has been in the form of self-improvement and growth that accompanied my first experience living independently. Leaving the protective living that I enjoyed with my family is challenging, but it has developed and strengthened my capabilities of taking and owning my decisions. Above all, knowing that my family is not always around to guide me has instilled in me a greater sense of responsibility.

During the two a half years of experience in accounting and finance, I observed the financial exclusion experienced by some important yet financially constrained sectors of the economy. This exposure motivated me to join the Development Finance Department upon my appointment to the country’s central bank. Moreover, most of the firms operating in any country of the world are either small or medium enterprises. Thus, providing an enabling environment to such enterprises is significant for economic growth and employment generation.

In Brazil also, 90 percent of the enterprises are small and medium-sized, and lack of access to formal sources of finance is a significant impediment to these enterprises’ growth. Therefore, a huge room for improvement is available concerning the development of policy framework and market infrastructure for the financial inclusion of this sector. As a part of the central bank, I have been allowed to intervene in a system that is not effectively performing its role of financial intermediation. Innovation in financial products, development of accounting and risk mitigation strategies are requirements to alleviate this segment’s financial exclusion.

By broadening my exposure and enhancing my knowledge, I aim to equip myself better to address the shortcomings of one of the critical segments of the economy.

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Personal statement

The quality of an applicant's personal statement is very important at LSE. The School does not interview for places so this is an applicant’s only opportunity to demonstrate they are a good fit for the course. Applicants should consult the advice here, as well as advice from UCAS when preparing to complete this section of their application. 

Please note that writing a personal statement following the guidelines below does not guarantee an offer of admission. Personal statements are looked at on a comparative basis and there is a great deal of competition for places at LSE. 

LSE does not accept additional or supplementary personal statements. We can only consider the personal statement submitted via UCAS.

Writing your personal statement

We expect that your submitted Personal Statement is structured and coherent and that you fully utilise the space available on your UCAS application form. We expect that you have checked spelling, punctuation, and grammar and that your Personal Statement flows in a logical order. We expect that your Personal Statement is entirely your own original work. We reserve the right to reject your application where it has been found that a statement has significant similarities to a previous submission or has been created with the use of Artificial Intelligence.

Before you start writing, do your research

Before you start writing your personal statement, you should visit our course guides . These guides give information on the course content of each of our undergraduate programmes. 

When assessing your personal statement our Admissions Selectors will look at how well your academic interests align with the LSE course. So, for example, the Anthropology Admissions Selector is likely to prefer a statement which focuses mainly on social anthropology - which is taught at LSE - over one which suggests the applicant is very interested in biological anthropology, or a combined degree with archaeology, as these courses are not offered at the School. 

Similarly, a personal statement which shows an interest mostly in modern international history (the focus of LSE’s International History course) is likely to be more competitive than one which shows a significant interest in ancient history, as LSE does not offer any ancient history units.   

If you are applying for a range of slightly different courses, we recommend that you focus your personal statement on the areas of overlap between them, so that your statement appeals to all of your UCAS choices. It is important to note that LSE does not accept replacement or supplementary personal statements. 

What to include in your personal statement

Your personal statement should discuss for the most part your academic interest in the subject you wish to study. One way to think about the personal statement is to reflect on what we expect from LSE undergraduates: we ask them to learn about topics relevant to their course, through reading or other experiences, and then discuss the ideas they have encountered in academic essays. This is the skill we look for in the personal statement and we recommend at least 80% of your statement should be dedicated to this type of academic discussion. 

How you show your wider engagement with your subject is entirely up to you. Our Selectors look for students who can best reflect on the experiences and academic ideas they have encountered through the opportunities available to them, not those who have had the best opportunities. If you are not sure where to start, you could try listening to podcasts of LSE public events or look in the prospectus for examples of suggested reading. Remember we are interested not just in a list of what you have read/encountered, but evidence you have reflected on the academic ideas. 

To help you begin, there are several questions you could think about:

• Why have you chosen the course? What attracted you to the subject? Which aspects of the subject have interested you sufficiently to want to study it at degree level? Is there a specific area of the subject you wish to focus on? What are the big issues in the subject, and what do you find most interesting about them? What are your thoughts on these topics?
• Have you developed your subject interest outside of your school studies? For example, have you undertaken any additional reading to broaden your knowledge of the subject? Have you attended lectures or explored online material relating to the subject? What did you find interesting in your reading/in the lectures you attended and what are your thoughts on the topics covered?
• Have you gained any skills from your other school subjects that complement your application to study your chosen subject? Have you had the opportunity to undertake work experience relevant to your application? If you did, how did this experience give you a wider understanding of the topics you will study at university?
• Have you attended any schemes or activities at LSE or other universities, such as Summer Schools, Saturday Schools, LSE Choice, etc? What you have learned from these? Have they furthered your knowledge of or interest in your chosen subject?

If you are applying for deferred entry, as well as thinking about the questions listed above, you may also wish to indicate (briefly) why you are taking a gap year and what you plan to do during the year. 

If you are applying as a post-qualified student (ie, you have already received your final results), you may wish to mention briefly what you have been doing since your exams. 

Please note : You are not expected to simply answer all of the questions above; these questions are merely intended to give you some guidance as to what to think about when writing your statement. 

Extra-curricular activities

At LSE you are admitted to study a particular degree course so the majority of your personal statement − at least 80% − should focus on your academic interest in that subject. Many students like to include some details of their extra-curricular activities such as involvement in sports, the arts, volunteering or student government. As our Selectors are most interested in your academic interests, we recommend that no more than 20% of your statement is spent discussing extra-curricular activities. 

Applying to combined degree programmes

LSE offers a number of combined degree programmes. If you are applying to one of these programmes, you are advised to give equal weighting to each subject in your statement. For instance, if you are applying to our Politics and Economics degree, you must show evidence of interest in both subjects; a statement weighted towards only one aspect of the degree will be significantly less competitive.

Example of a poor personal statement

"I have always dreamed of coming to LSE since I was young. It has been a dream of mine to study at this institution, which is well renowned for its social science courses.  

I am currently studying History, English and Business and Management at Higher level and Italian, Maths and Chemistry at Standard level in the International Baccalaureate, and feel that these subjects are providing me with a solid background for university study.  

I want to study History because I want to be a world class Historian, and feel that this degree will help me. I am especially interested in Ancient History, particularly the history concerning the Roman Empire. I am fascinated by the way in which the empire was run, and the events that led to its downfall.  

"I was the captain of the school football team, and this has taught me the importance of working together as a team, and allowed me to prioritise my time between my studies and football practice. I feel that this has provided me with the experience to successfully balance my academic and social life, and I plan to continue this balance whilst at university.  

It is my dream to become an alumnus of the School, and I am sure that as I am the top student of my class, you will offer me a place."  

This brief example of a personal statement is poor. The applicant has mentioned an interest in history but they have not discussed this in depth or shown any evidence of wider engagement with the subject. Where the applicant does talk about history, the discussion is superficial and focussed on ancient history, which LSE does not offer as part of our history course. 

The applicant has specifically mentioned LSE, which is likely to be unattractive to their other choices, and has wasted space listing their International Baccalaureate subjects, which would be shown in the qualifications section. The applicant has described how a history degree will help them get the job they later want, rather than what they are looking forward to studying during the degree. 

The applicant has reflected on the transferable skills they have developed leading the football team. This is good, but it would be nice to see the same level of reflection applied to academic topics - this student has spent more time talking about football than about history. 

UCAS reference Your teacher's reference: what we're looking for

Watch this presentation LSE Admissions Specialist Paul talks about personal statements

Study at LSE webinars Watch our Personal Statement FAQs webinar

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A Guide to Your Credit Card Statement

Many people overlook their credit card statements. Here's why you shouldn't.

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Checking your credit card statement every month is an important financial task. The statement holds key information about your card’s balance, interest rate and payment due date. 

Plus, by monitoring transactions, you can get a sense of where your money is going — and detect any fraudulent purchases quickly. Here’s how to read the fine print. 

Account summary

The account summary shows activity during the most recent billing period. At the top, you’ll see the balance from the end of your card’s previous billing cycle, which may be called the previous balance. Then you’ll see the amount you made in payments, which is subtracted from the previous balance. 

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The account summary also includes the total amount of purchases and credits (for example, refunds for items you returned to a merchant), balance transfers, cash advances, any past due amount, fees charged, and interest that has accrued since the last billing cycle. Additionally, you’ll see the starting and closing dates of the billing cycle, which usually lasts 28 to 31 days. Transactions occurring after the closing date will show up on your next bill. 

Your statement balance (which may be called the new balance) shows the amount you owe at the end of the billing cycle. Your credit limit, as well as the amount of credit available to you after subtracting your card’s balance, appears in the account summary, too. 

Payment information

Perhaps the most important line in this section is your payment due date. Your payment is usually considered to be on time if you submit it by 5 p.m. in your time zone on the due date shown, if it’s a weekday; if the due date falls on a weekend or holiday, then you have until the next weekday to pay your balance. 

If you send your credit card payment by mail, try to mail it well before the due date so you won’t incur late fees. Your credit card bill provides a payment coupon to include with your check or money order.

The payment section also lists the minimum payment due, which is the amount required to avoid a penalty, as well as a warning that explains how much you’ll owe in fees and higher interest if you fail to pay by the due date. In addition, this section explains the number of months or years it will take to pay off the balance if you make only minimum payments. By paying your balance on time and in full every month, you can avoid a lengthy repayment time, interest charges and late fees. 

Changes to your account

If your account terms change, those differences are listed here. For example, if your card company increases your interest rate or adds more fees, you’ll be informed in this section and given at least 45 days’ notice before the changes take effect. If you trigger a penalty interest rate by paying late or exceeding your credit limit, you’ll see the rate increase here.

Transactions

This section provides a summary of your purchases and other transactions since your last statement, showing exactly where your money is going, says Ted Rossman , senior industry analyst at Bankrate. Every purchase you made is listed, along with the date of the purchase and identity of the merchant. 

Inspect this part of your statement closely for any unfamiliar or forgotten charges, such as free-trial subscriptions that turned into paid services after the trial ended, Rossman says. You should also scrutinize the list for transactions you don’t recognize, which could indicate fraud. If you see a purchase you don’t recall making, contact the merchant first. If you can’t resolve the issue with the merchant, write a letter to your credit card company to dispute the charge. 

Under the Fair Credit Billing Act, you have 60 days after the date the billing statement was sent to you to dispute an erroneous charge. Your credit card provider must investigate and resolve the dispute within two complete billing cycles — but no more than 90 days — of receiving the letter. 

If the card provider determines that the charges were unauthorized, the law limits your liability to $50, no matter how much was charged to your card. Many card companies offer zero-liability protection as long as you notify them of suspected fraud within 30 days of receiving your statement and noticing the error. 

Fees and interest charges

This section tells you the total amount you’ve been charged in interest and fees for the current year. If you’ve been paying fees, look for ways to avoid them, Rossman says. For example, setting up automatic payments of your credit card bill will ensure that your payments arrive on time.

Keep in mind that you can ask your card provider to lower your interest rate or waive fees, too. A recent survey by LendingTree found that three-fourths of consumers who requested a lower interest rate on one of their credit cards in the past year were successful.

Interest charge calculations

At the bottom of your credit card statement, you’ll see how interest on your payments is calculated. This section includes the annual percentage rate (APR) for purchases, balance transfers and cash advances. 

It also details the balances subject to the current APR and any changes in your interest rate. For example, if you had an introductory purchase APR of 0%, you’ll see when that rate will expire. 

Credit card rewards

If you have a rewards credit card , this section shows the amount of cash back, points or miles you’ve earned and redeemed. This is useful if you’re planning to use your rewards to take a trip or pay for another big expense. 

How long to keep your credit card statement

Jim Droske, owner of Illinois Credit Services , a credit-repair company, says it’s important to have access to your credit card statements in case you want to dispute a fraudulent charge or need them for tax documentation. 

If you receive paper statements, store them in a safe place for at least 60 days to dispute a fraudulent charge or for up to six years if you need them for your taxes. If you manage your account online, consider downloading electronic copies of your statements to a password-protected file on your computer.

Note: This item first appeared in Kiplinger Personal Finance Magazine, a monthly, trustworthy source of advice and guidance. Subscribe to help you make more money and keep more of the money you make here .

Related Content

• Why You Should Keep Your Credit Cards Active
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Ella Vincent is a personal finance writer who has written about credit, retirement, and employment issues. She has previously written for Motley Fool and Yahoo Finance. She enjoys going to concerts in her native Chicago and watching basketball.

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Accounting and Financial Reporting

Key information, module code:, credit value:, module description.

What is the module about?

This module is designed to offer an introduction to accounting for students with limited or no prior knowledge of the subject. Upon completion of the course, students will have developed the necessary knowledge and skills needed to prepare, interpret and analyse the key financial statements, with a focus on the income statement, balance sheet and cashflow statement. This module aims to make accounting accessible and engaging for anyone interested in business by revealing how these key statements document the value, profitability and cashflow of a business. In addition, this module will show how accounting principles can be applied to planning, control and decision making to assist managers in running their business organisations. We will also introduce costing and explain its importance in helping businesses achieve their performance goals.

Aims and Objective:

The aims of the module are to:

• Provide an introduction to financial and management accounting for students without any previous accounting knowledge.
• Introduce students to the key principles underlying financial reporting with an emphasis on understanding, interpreting and using accounting information.
• Apply accounting principles to decision making in modern business organisations
• Apply accounting principles to the business planning process and develop the skills used by businesses for management control
• Encourage critical thinking about the problems and challenges faced while preparing financial accounts and management reports.

Upon completion of the course students should be able to:

• Explain the role of accounting information in business organisations and discuss the key information needs of different stakeholder groups.
• Be able to prepare a balance sheet, income statement and cash flow statement.
• Understand the uses and limitations of the information in financial statements.
• Employ ratio analysis to analyse and interpret accounting information.
• Analyse costs and use costing techniques to cost products
• Apply the principles of planning and control (including variance analysis)
• Perform CVP analysis and evaluate its application to short term decision making
• Evaluate long term capital projects using investment appraisal techniques

Who should do this module?

Accounting is described as the language of business, so anyone interested in business should study this module given it provides the key skills to understand the value, profitability and cashflow of an enterprise as well as how managers use financial information to run and understand their businesses. More specifically, this module will provide the skills needed to draw up financial statement and record transactions, explore how to read and analyse the financial statements, prepare financial plans, perform variance analysis, and understand the uses of financial information in decision making as well exploring more widely how accounting information is used in business and society.

Provisional Lecture Outline

1 Introduction to Course: 

A clear overview will be offered on the learning objectives of the course, including what you are expected to have learned by the end of the course and how you will be examined. 

Introduction to the statement of financial position

This week you will learn what accounting is and what is its purpose. We will then consider the one of the key financial statements, The Statement of Financial Position (Balance Sheet).

2 The income statement

This week we will explore how we measure and report financial performance and look at the accounting for limited companies. 

3 The statement of cash flows

This week we will discuss the crucial importance of cash to a business. We will then look at the nature of, and prepare, one of the key financial statements, the statement of cash flows.

4 Analysing and interpreting financial statements

This week we will consider the analysis and interpretation of financial statements. We will see how the use of financial ratios can help assess the financial performance and position of a business. 

5 Investment Appraisal Techniques

This week we will see look at payback period, accounting rate of return, internal rate of return and net present value.

6 Introduction to Company and Bond Valuation

This week we look key concepts in finance such as present value, future value and perpetuities.

7 Cost-Volume-Profit Analysis

This week we will see the relationship between cost, the volume of activity and profit and how an understanding of this relationship can be used to make decisions.

8 Relevant Costs for Decision Making

This week we look at the importance of identifying which costs are relevant when making management decisions.

9 Full (absorption) costing and costing in a competitive environment

This week we will see how Full (absorption) costing is used to deduce the cost of a product and how in the modern competitive environment businesses must manage their costs more effectively.

9 Budgeting (Planning)

This week we will see how budgets set out short term plans to help managers run the business

10 Accounting for Control

This week we look at how managers use accounting as a tool for control and managing performance.

11 Revision

Assessment details

Examination (80%)

Tutorial Assessment (20%)

Teaching pattern

Weekly Lectures

Weekly Tutorials

Suggested reading list

Harlow: Pearson. (Custom publication for King’s College London. Compiled by McFaull, A. London: Pearson.

Module description disclaimer

King’s College London reviews the modules offered on a regular basis to provide up-to-date, innovative and relevant programmes of study. Therefore, modules offered may change. We suggest you keep an eye on the course finder on our website for updates.

Please note that modules with a practical component will be capped due to educational requirements, which may mean that we cannot guarantee a place to all students who elect to study this module.

Please note that the module descriptions above are related to the current academic year and are subject to change.

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Verde announces q2 2024 results.

(All figures are in Canadian dollars, unless stated otherwise. Average exchange rate in Q2 2024: C$1.00 = R$3.81)

SINGAPORE, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Verde Agritech Ltd (TSX: “NPK”) (" Verde ” or the “ Company ”) announces its financial results for the period ended June 30, 2024 (“ Q2 2024 ”).

Verde’s financial results for the second quarter of 2024 were adversely influenced by climatic events in Brazil, primarily driven by the El Niño phenomenon. 1 This included periods of drought accompanied by high temperatures in the northern and central-western areas 2 . These adverse weather conditions have had a profound impact on both the agricultural and livestock sectors. 3 This challenging climate scenario has resulted in Brazilian farmers becoming increasingly cautious, prompting them to postpone any type of investment in their lands to the greatest extent possible. 4 Consequently, the fertilizer market in Brazil is experiencing significant delays in farmers' purchases of these products and the demand for fertilizers has been hindered by a combination of factors, including climate uncertainties, financial constraints faced by farmers, and high-interest rates. According to StoneX 5 consultancy, by the end of the first two months of 2024, the Brazilian market had purchased only 20% of the expected fertilizer volume for the year, half of the percentage usually sold by this time in previous years. Moreover, the agricultural sector continues to struggle with an unfavorable market. Logistic issues, stringent regulations, and economic instability further exacerbate the situation, harming both production and profitability for farmers. 6

"Despite the challenging events beyond our control, I am encouraged by several positive developments over the quarter. Independent agronomic research on our existing products, as well as new products and technologies, has shown highly promising results. Above all, we have received overwhelmingly positive feedback from farmers, highlighting the significant benefits they are experiencing with our products. These advancements reflect the growing trust and value our clients place in Verde's solutions,” said Cristiano Veloso, CEO of Verde Agritech.

The Company is currently engaged in renegotiating its loan obligations. Discussions are advancing positively, and the Company expects to secure significant improvements in the terms of its debt, including a substantial extension of the repayment period, a grace period, and a reduction in interest rates.

Second Quarter 2024 Highlights

Operational and Financial Highlights

Sales in Q2 2024 were 85,000 tons, compared to 107,000 tons in Q2 2023.

Revenue in Q2 2024 was $6.5 million, compared to $10.3 million in Q2 2023.

Cash and other receivables held by the Company in Q2 2024 were $15.3 million, compared to $23.8 million in Q2 2023.

EBITDA before non-cash events was null in Q2 2024, compared to $2.1 million in Q2 2023.

Net loss in Q2 2024 was -$ 2.64 million, compared to a $0.2 million net profit in Q2 2023.

Other Highlights

The Product sold in Q2 2024 has the potential to capture up to 5,561 tons of carbon dioxide (“CO 2 ”) from the atmosphere via Enhanced Rock Weathering (“ERW”). 7 The potential net amount of carbon captured, represented by carbon dioxide removal (“CDR”), is estimated at 2,935 tons of CO 2 . 8 In addition to the carbon removal potential, Verde’s Q2 2024 sales avoided the emissions of 1,402 tons of CO 2 e, by substituting potassium chloride (“KCl”) fertilizers 9 .

Combining the potential carbon removal and carbon emissions avoided by the use our Product since the start of production in 2018, Verde’s total impact stands at 272,377 tons of CO 2 10

6,736 tons of chloride have been prevented from being applied into soils Q2 2024, by farmers who used the Product in lieu of KCl fertilizers. 11 A total of 160,035 tons of chloride has been prevented from being applied into soils by Verde’s customers since the Company started production 12

"I am optimistic about the significant strengthening of our commercial team. We have welcomed four new Sales Directors during the second quarter, who are focused on agricultural markets closer to our production plant. They lead 22 field sales managers who also mainly joined Verde in the last quarter. Each of these professionals brings extensive experience, a strong sense of purpose, and determination to their roles. These strategic additions position us well for future growth and success," complemented Cristiano Veloso, CEO of Verde Agritech.

Update on Carbon Capture and Emissions Avoidance Data for Q1 2024

The Company has identified discrepancies in previously disclosed carbon capture data for Q1 2024 caused by a spreadsheet formula mistake. The table below highlights the correct figures:

Q2 2024 in Review

Financial Outlook

In the second quarter of 2024, the Company initiated a Strategic Debt Restructuring Plan, which includes seeking specific Preliminary Judicial Relief to obtain temporary protection against actions and foreclosures by seven banks. This measure aims to ensure stability while we renegotiate terms with our financial creditors. In the meantime, the Company has made significant improvement in the negotiations with its creditors and expects further announcement in the upcoming weeks. It is important to emphasize that this measure does not affect the Company's operations, nor does it compromise our contractual obligations to suppliers. Negotiations are progressing constructively, and the Company anticipates achieving a significant improvement in debt terms, including a substantial extension of the payment period, a grace period, and a reduction in interest rates.

Agricultural Market

Following the onset of the Ukraine-Russia conflict in early 2022, the agricultural sector experienced a historic surge in the prices of inputs and commodities. Notably, the average potash price jumped by 212% in Q2 2022, peaking at US$1,200 per ton in April 2022, compared to an average of US$384 in Q2 2021. 17 This spike in KCl CFR prices in 2022 was so significant that, despite a downward trend beginning in the latter half of the year, the market in 2023 still benefited the effects of the record-high levels reached in 2022. The average KCl CFR price in Q2 2024 had dropped by 17% compared to Q2 2023, and by 74% compared to Q2 2022.

In the second quarter of 2024, the Brazilian potash fertilizer market experienced a notable reduction in sales to farmers, primarily attributed to the severe drought conditions that have persisted across the country. This environmental challenge has significantly slowed fertilizer purchases, leading to an estimated 4% decrease in national demand for potash fertilizer 18 .

The market prices for Brazil's main crops remained stable in Q2 2024 with minor variations, although they continued to be significantly lower than the levels observed in Q2 2022 and Q2 2023. A sack of corn, previously valued at an average of R$62.68 in the market, is now trading below R$58.88. 19 Meanwhile, the price of a sack of soybeans has dropped from an average of R$139.83 to R$133.91 20 .

Global market competition

In 2022, Brazil experienced its highest interest rates since 2006, a situation that has been showing signs of improvement since Q2 2023 but still impacts the Company's financing conditions.

The current SELIC interest rate is 10.50% 21 . The Central Bank of Brazil projects the SELIC rate to be 10.50% by the end of 2024, 9.75% by the end of 2025, and 9.00% by the end of 2026. 22 Annual inflation forecast for 2024 and 2025 are 4.1% and 4.0% respectively. 23

Brazilian farmers have continued to struggle with limited working capital amid challenging market conditions in 2024. They have increasingly sought input suppliers offering the most favorable payment terms and interest rates, allowing them to defer payment until after the harvest, typically between 9 to 12 months later. However, Verde’s ability to provide financing with longer tenors remains considerably lower compared to international players 24 , making its terms less competitive for its customers. Unlike its competitors, Verde does not have the option to incur most of its cost of debt in US dollar-denominated liabilities. Overall, the Company is only able to provide financing up to 20% of its revenue due to constraints related to lines of credit.

Verde’s average cost of debt is 15.6% per annum. To incentivize sales, the Company offers its customers a credit line that charges a spread to its finance cost to comprise operational costs, provisions, and expected credit losses, leading to an average lending cost of 17.5% for credit-based purchases. While this approach is necessary in the agricultural sector, it increases the risk of non-payment for suppliers such as fertilizer companies, reflecting the heightened financial pressures within the sector.

Currency exchange rate

The Canadian dollar valuated by 4% versus Brazilian Real in Q2 2024 compared to the same period from last year. 25

Q2 2024 Results Conference Call

The Company will host a conference call on Friday, August 16, 2024, at 10:00 am Eastern Time, to discuss Q2 2024 results and provide an update. Subscribe using the link below and receive the conference details by email.

The questions must be submitted in advance through the following link up to 48 hours before the conference call: https://bit.ly/Q2-2024-ResultsPresentationQuestions

The Company’s first second financial statements and related notes for the period ended June 30, 2024 are available to the public on SEDAR at www.sedar.com and the Company’s website at www.investor.verde.ag/ .

Results of Operations

The following table provides ended June 30, 2024, as compared to the three months ended June 30, 2023 information about three months. All amounts in CAD $’000.

(1) – Non GAAP measure (2) – Included in General and Administrative expenses in financial statements (3) – Included in General and Administrative expenses and Cost of Sales in financial statements (4) – Please see Summary of Interest-Bearing Loans and Borrowings notes (5) – Please see Income Tax notes

External Factors

Revenue and costs are affected by external factors including changes in the exchange rates between the C$ and R$ along with fluctuations in potassium chloride spot CFR Brazil, agricultural commodities prices, interest rates, among other factors. For further details, please refer to the Q2 2024 Review section:

Financial and operating results

In Q2 2024, revenue from sales fell by 37%, accompanied by a 21% reduction in the average revenue per ton compared to Q2 2023. Excluding freight expenses (FOB price), the average revenue per ton decreased by 25% in Q2 2024 compared to Q2 2023. The proportion of products sold in jumbo bags, which command a higher sales price per ton compared to bulk, represented 9% of the Company's total volume sold, down from 21% in Q2 2023. This shift and KCl CFR decreased price all around the world further affected the average revenue per ton in Q2 2024.

Sales declined by 21% in Q2 2024 compared to Q2 2023, due to the conditions outlined in the Q2 2024 Review section.

As a consequence of the points mentioned above, the Company's EBITDA before non-cash events was null in Q2 2024 compared to $2.1 million in Q2 2023.

The Company generated a net loss of -$2.6 million in Q2 2024, compared to a net profit of $0.2 million in Q2 2023.

Basic loss per share was $0.050 for Q2 2024, compared to earnings of $0.005 for Q2 2023.

Production costs

In Q2 2024, production costs per ton increased by 17% compared to Q2 2023, influenced by the decrease in sales volume and higher sales of BAKS compared to K Forte bulk, with 18% in Q2 2024 compared to 8% sold in the same period last year.

Production costs include all direct costs from mining, processing, and the addition of other nutrients to the Product, such as Sulphur and Boron. It also includes the logistics costs from the mine to the plant and related salaries.

Sales, General and Administrative Expenses:

SG&A represents a non-operating segment that includes corporate and administrative functions, essential for supporting the Company's operating segments.

Sales Expenses

Sales and marketing expenses cover salaries for employees, car rentals, domestic travel in Brazil, hotel accommodations, and Product promotion at marketing events.

As part of the Company’s marketing and sales strategy, Verde compensates its independent sales agents via commission-based remuneration. These expenses for this quarter decreased in line with the reduction in sales.

Product delivery freight expenses

Expenses decreased by 32% compared to the same period last year. The volume sold as CIF (Cost Insurance and Freight) in Q2 2024 represented 81% of total sales, compared to 72% in Q2 2023. However, the Company achieved a reduction in average freight costs per ton for products sold on a CIF basis, to $37 in Q2 2024 from $48 in the comparable period of the previous year. The 23% decrease in freight costs can primarily be attributed to a reduction in the percentage of sales made to regions that are more distant from Verde's production facilities.

Sales, General and Administrative Expenses (Continued):

General and Administrative Expenses

General administrative expenses include general office expenses, rent, bank fees, insurance, foreign exchange variances and remuneration of executives, directors of the Board and administrative staff. General administrative decreased by 21% compared to the same period last year, due to a reduction in leasing expenses, such as water trucks and metallic structures to support operations.

In the second quarter of 2023, we experienced a significant reduction in the number of employees, which led to an increase in severance payments. Consequently, expenses in Q2 2024 were lower than Q2 2023.

According to Verde's sales policy, any customer payments that are overdue for more than 12 months must be provisioned for. The increase in the allowance for expected credit losses in Q2 2024 compared to Q2 2023 is attributed to the financial constraints faced by farmers, which are a result of low prices for agricultural commodities, among other factors, as outlined in the Q2 2024 Review section.

Legal, professional and audit costs include fees along with accountancy, audit and regulatory costs. Consultancy fees encompass consultants employed in Brazil, such as accounting services, patent processes, lawyer’s fees and regulatory consultants.

IT/Software expenses include software licenses such as Microsoft Office, Customer Relationship Management (“CRM”) software and Enterprise Resource Planning (ERP). Expenses decreased by 36% in Q2 2024 compared to the same period last year due to a decrease in costs associated with the Company’s CRM software.

Share Based, Equity and Bonus Payments (Non-Cash Event)

Share Based, Equity and Bonus Payments (Non-Cash Events) encompass expenses associated with stock options granted to employees and directors, as well as equity compensation and non-cash bonuses awarded to key management personnel. In Q2 2024, the costs associated with share-based payments were -$0.3 million compared to $0.1 million for the same period last year. This variance was primarily due to new options issuance.

Liquidity and Cash Flows

For additional details see the consolidated statements of cash flows for the quarters ended June 30, 2024, and June 30, 2023 in the quarterly financial statements.

On June 30, 2024, the Company held cash of $2.7 million, a decrease of $3.5 million on the same period in 2023.

Operating activities

In agricultural sales, credit transactions are common due to the cyclical nature of farming income, which sees fluctuations with seasonal highs during harvests and lows during planting. This cycle necessitates that farmers have access to essential inputs like seeds, fertilizers, and pesticides ahead of their selling season. To accommodate this, credit terms are offered, allowing farmers to procure these inputs in advance and align their payments with their revenue cycle.

The Company’s credit terms vary according to the needs of its clients, tailored to the specific requirements of each farmer. This includes considerations such as the crop cycle, creditworthiness, and other relevant factors, with terms extending up to 360 days upon shipment depending on the period of year. This strategy ensures farmers have the necessary resources for each planting season, while Verde secures its financial interests through aligned payment schedules.

In Q2 2024, net cash utilized in operating activities decreased to -$0.3 million, compared to -$3.6 million utilized in Q2 2023.

Trade and other receivables decreased by 27% in Q2 2024, to $12.8 million compared to $17.6 million in Q2 2023. This is expected as the Company had lower revenues from sales in the quarter.

Investing activities

Cash utilized from investing activities increased to $1.6 million in Q2 2024, compared to to -$0.3 million in Q2 2023. In the last quarter, our investment activity increased due to the redemption of financial applications.

Financing activities

Cash utilized in financing activities decreased to -$2.0 million in Q2 2024, compared to $5.8 million in Q2 2023. This was due to additional loans being acquired during 2023.

Financial condition

The Company´s current assets decreased to $17.4 million in Q2 2024, compared to $27.6 million in Q2 2023. Current liabilities increased to $25.9 million in Q2 2024, compared to $17.0 million in Q2 2023; providing a working capital deficit of $8.5 million in Q2 2024, compared to the working capital surplus of $10.6 million in Q2 2023.

About Verde Agritech

Verde Agritech is dedicated to advancing sustainable agriculture through the innovation of specialty multi-nutrient potassium fertilizers. Our mission is to increase agricultural productivity, enhance soil health, and significantly contribute to environmental sustainability. Utilizing our unique position in Brazil, we harness proprietary technologies to develop solutions that not only meet the immediate needs of farmers but also address global challenges such as food security and climate change. Our commitment to carbon capture and the production of eco-friendly fertilizers underscores our vision for a future where agriculture contributes positively to the health of our planet.

For more information on how we are leading the way towards sustainable agriculture and climate change mitigation in Brazil, visit our website at  https://verde.ag/en/home/ .

Corporate Presentation

For further information on the Company, please view shareholders’ deck: https://investor.verde.ag/wp-content/uploads/2021/05/Corporate-presentation-Verde-AgriTech-July-2024-1.pdf

Company Updates

Verde invites you to subscribe for updates. By signing up, you'll receive the latest news about the Company's projects, achievements, and future plans.

Subscribe here: http://cloud.marketing.verde.ag/InvestorsSubscription

Cautionary Language and Forward-Looking Statements

All Mineral Reserve and Mineral Resources estimates reported by the Company were estimated in accordance with the Canadian National Instrument 43-101 and the Canadian Institute of Mining, Metallurgy, and Petroleum Definition Standards (May 10, 2014). These standards differ significantly from the requirements of the U.S. Securities and Exchange Commission. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.

This document contains "forward-looking information" within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. This information and these statements, referred to herein as "forward-looking statements" are made as of the date of this document. Forward-looking statements relate to future events or future performance and reflect current estimates, predictions, expectations or beliefs regarding future events and include, but are not limited to, statements with respect to:

(i) the estimated amount and grade of Mineral Resources and Mineral Reserves;

(ii) the estimated amount of CO 2 removal per ton of rock;

(iii) the PFS representing a viable development option for the Project;

(iv) estimates of the capital costs of constructing mine facilities and bringing a mine into production, of sustaining capital and the duration of financing payback periods;

(v) the estimated amount of future production, both produced and sold;

(vi) timing of disclosure for the PFS and recommendations from the Special Committee;

(vii) the Company’s competitive position in Brazil and demand for potash; and,

(viii) estimates of operating costs and total costs, net cash flow, net present value and economic returns from an operating mine.

Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "plans", "projects", "estimates", "envisages", "assumes", "intends", "strategy", "goals", "objectives" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements.

All forward-looking statements are based on Verde's or its consultants' current beliefs as well as various assumptions made by them and information currently available to them. The most significant assumptions are set forth above, but generally these assumptions include, but are not limited to:

(i) the presence of and continuity of resources and reserves at the Project at estimated grades;

(ii) the estimation of CO 2 removal based on the chemical and mineralogical composition of assumed resources and reserves;

(iii) the geotechnical and metallurgical characteristics of rock conforming to sampled results; including the quantities of water and the quality of the water that must be diverted or treated during mining operations;

(iv) the capacities and durability of various machinery and equipment;

(v) the availability of personnel, machinery and equipment at estimated prices and within the estimated delivery times;

(vi) currency exchange rates;

(vii) Super Greensand® and K Forte® sales prices, market size and exchange rate assumed;

(viii) appropriate discount rates applied to the cash flows in the economic analysis;

(ix) tax rates and royalty rates applicable to the proposed mining operation;

(x) the availability of acceptable financing under assumed structure and costs;

(xi) anticipated mining losses and dilution;

(xii) reasonable contingency requirements;

(xiii) success in realizing proposed operations;

(xiv) receipt of permits and other regulatory approvals on acceptable terms; and

(xv) the fulfilment of environmental assessment commitments and arrangements with local communities.

Although management considers these assumptions to be reasonable based on information currently available to it, they may prove to be incorrect. Many forward-looking statements are made assuming the correctness of other forward looking statements, such as statements of net present value and internal rates of return, which are based on most of the other forward-looking statements and assumptions herein. The cost information is also prepared using current values, but the time for incurring the costs will be in the future and it is assumed costs will remain stable over the relevant period.

By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. We caution readers not to place undue reliance on these forward-looking statements as a number of important factors could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates assumptions and intentions expressed in such forward-looking statements. These risk factors may be generally stated as the risk that the assumptions and estimates expressed above do not occur as forecast, but specifically include, without limitation: risks relating to variations in the mineral content within the material identified as Mineral Resources and Mineral Reserves from that predicted; variations in rates of recovery and extraction; the geotechnical characteristics of the rock mined or through which infrastructure is built differing from that predicted, the quantity of water that will need to be diverted or treated during mining operations being different from what is expected to be encountered during mining operations or post closure, or the rate of flow of the water being different; developments in world metals markets; risks relating to fluctuations in the Brazilian Real relative to the Canadian dollar; increases in the estimated capital and operating costs or unanticipated costs; difficulties attracting the necessary work force; increases in financing costs or adverse changes to the terms of available financing, if any; tax rates or royalties being greater than assumed; changes in development or mining plans due to changes in logistical, technical or other factors; changes in project parameters as plans continue to be refined; risks relating to receipt of regulatory approvals; delays in stakeholder negotiations; changes in regulations applying to the development, operation, and closure of mining operations from what currently exists; the effects of competition in the markets in which Verde operates; operational and infrastructure risks and the additional risks described in Verde's Annual Information Form filed with SEDAR in Canada (available at www.sedar.com) for the year ended December 31, 2021. Verde cautions that the foregoing list of factors that may affect future results is not exhaustive.

When relying on our forward-looking statements to make decisions with respect to Verde, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Verde does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by Verde or on our behalf, except as required by law.

For additional information please contact:

Cristiano Veloso , Chief Executive Officer and Founder

Tel: +55 (31) 3245 0205; Email: [email protected]

www.verde.ag | www.investor.verde.ag

1 Source: How El Nino Will Impact Latin America in 2024

2 Source: Drought in the Brazil's Cerrado is the worst for at least seven centuries, study shows

3 Source: Southern Brazil has seen an increase of up to 30% in average annual rainfall over the last three decades .

4 Source: Southern Brazil has seen an increase of up to 30% in average annual rainfall over the last three decades .

5 Source: Brazil sees unprecedented delay in fertilizer sales .

6 Source: The commercialization of fertilizers in Brazil is experiencing unprecedented delays decades .

7 Out of the total sales in Q2 2024, 46,340 tons were sold in compliance with our Monitoring, Verification, and Report (“MRV”) Protocol, qualifying them as potential carbon credits. The carbon capture potential of Verde's products, through Enhanced Rock Weathering (ERW), is 120 kg CO 2 e e per ton of K Forte®. For further information, see “ Verde’s Products Remove Carbon Dioxide From the Air ”.

8 Net Carbon Dioxide Removal (CDR): volume of 1 ton of Long-Term CO 2 Removal, equivalent to 1 carbon credit.

9 K Forte® is a fertilizer produced in Brazil using national raw materials. Its production process has low energy consumption from renewable sources and, consequently, a low environmental and GHG emissions footprint. Whereas the high carbon footprint of KCl results from a complex production process, involving extraction, concentration, and granulation of KCl in addition to the long transportation distances to Brazil, given that 95% of the KCl consumed in the country is imported. 12Mt of K Forte® is equivalent to 2Mt of KCl in K 2 O content. Emissions avoided are calculated as the difference between the weighted average emissions for KCl suppliers to produce, deliver, and apply their product in each customer's city and the emissions determined according to K Forte®'s Life Cycle Assessment for its production, delivery, and application in each customer's city.

10 From 2018 to Q2 2024, the Company has sold 1.84 million tons of Product, which can potentially remove up to 221,337 tons of CO 2 . Additionally, this amount of Product could potentially prevent up to 51,208 tons of CO 2 emissions.

11 Verde’s Product is a salinity and chloride-free replacement for KCl fertilizers. Potassium chloride is composed of approximately 46% of chloride, which can have biocidal effects when excessively applied to soils. According to Heide Hermary (Effects of some synthetic fertilizers on the soil ecosystem, 2007), applying 1 pound of potassium chloride to the soil is equivalent to applying 1 gallon of Clorox bleach, with regard to killing soil microorganisms. Soil microorganisms play a crucial role in agriculture by capturing and storing carbon in the soil, making a significant contribution to the global fight against climate change.

12 1 ton of Product (10% K 2 O) has 0.1 tons of K 2 O, which is equivalent to 0.17 tons of potassium chloride (60% K 2 O), containing 0.08 tons of chloride.

13 Out of the total sales in Q1 2024, 40,127 tons were sold in compliance with our Monitoring, Verification, and Report (“MRV”) Protocol, qualifying them as potential carbon credits. The carbon capture potential of Verde's products, through Enhanced Rock Weathering (ERW), is 120 kg CO2e per ton of K Forte®. For further information, see “ Verde’s Products Remove Carbon Dioxide From the Air ”.

14 Net Carbon Dioxide Removal (CDR): volume of 1 ton of Long-Term CO 2 Removal, equivalent to 1 carbon credit.

15 K Forte® is a fertilizer produced in Brazil using national raw materials. Its production process has low energy consumption from renewable sources and, consequently, a low environmental and GHG emissions footprint. Whereas the high carbon footprint of KCl results from a complex production process, involving extraction, concentration, and granulation of KCl, in addition to the long transportation distances to Brazil, given that 95% of the KCl consumed in the country is imported. 12Mt of K Forte® is equivalent to 2Mt of KCl in K 2 O content. Emissions avoided are calculated as the difference between the weighted average emissions for KCl suppliers to produce, deliver, and apply their product in each customer's city and the emissions determined according to K Forte®'s Life Cycle Assessment for its production, delivery, and application in each customer's city.

16 From 2018 to Q1 2024, the Company has sold 1.8 million tons of Product, which can remove up to 215,751 tons of CO 2 . Additionally, this amount of Product could potentially prevent up to 49,459 tons of CO 2 emissions.

17 Source: Acerto Limited Report.

18 Source: The impact of the Brazilian drought on fertilizer .

19 As of Q2 2022 and Q2 2024. Source: EPEA – ESALQ / USP .

20 As of Q2 2023 and Q2 2024. Source: EPEA – ESALQ / USP .

21 As of July 31, 2024. Source: Brazilian Central Bank

22 Source: Brazilian Central Bank .

23 As of July 31, 2024. Source: Brazilian Central Bank .

24 Verde’s normal credit term is 30 to 120 days upon shipment, depending on the period of the year, while competitors can provide 180-360 days to collect its payments.

25 Source: Brazilian Central Bank .

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