Mosaics Strategic Acquisition of CF Industries Phosphate Business

Avoidance of Capital Outlay Results in a decrease in future capital spending of approximately $1.4 billion and timing flexibility for an additional $1 billion. 1. Not having to construct $1 billion Ona beneficiation plant. Requires $500 million for washing facility and enhancements at Hardee Mine Complex and elsewhere. 2. Forego proposed $1.1 billion Louisiana ammonia plant. U.S. natural gas based long term supply agreement from Donaldsonville, LA starting prior to January, 2017. 6 ● ● Avoids capital and execution risk. • Mosaic will proceed with a $200 million investment in ammonia transport assets. ● The acquisition is expected to have no impact on Mosaic's planned shareholder distributions and capital management philosophy. Mosaic

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