The board of directors of Sinofert Holdings Limited (the Company) announced that as a condition to the approval given by the Ministry of Commerce of the People's Republic of China on the potential merger between Potash Corporation of Saskatchewan Inc. (Potash Corporation), a substantial shareholder of the Company, and Agrium Inc., Dr. Stephen Francis DOWDLE, a non-executive director of the company and a management member of Potash Corporation, and Ms. XIANG Dandan, a non-executive director of the company and an employee of an associate of Potash Corporation, are required to step down from the board. For such reason, each of Dr. Stephen Francis DOWDLE and Ms. XIANG Dandan tendered his/her resignation as a non-executive director of the company on 7 December 2017, which will take effect on 31 December 2017. Dr. Stephen Francis DOWDLE will also cease to be a member of each of the Remuneration Committee and the Nomination Committee of the company with effect from 31 December 2017.

Each of Dr. Stephen Francis DOWDLE and Ms. XIANG Dandan has confirmed that he/she has no disagreement with the board and that there are no matters relating to his/her resignation that need to be brought to the attention of the shareholders of the company.