Investor Presentaiton

Unit Cost (US$/t) 50 ICI Dead Sea APC 100 Uralkali 150 ELM Forecast* 200 250 Projected Cost of Production Comparison Cost of Production (2008) Internally generated projected production cost not externally validated Belaruskali Silvinit Market Share Potash Corp 1 1 ll . ELEMENTAL MINERALS LIMITED Source: IFA, Ferticon, BAS-ML, Sintoukola Desk Top Study, 15 Transport to port Royalty Unit Cost

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