Document

Exhibit 99.2

The Mosaic Company

Selected Calendar Quarter Financial Information

(Unaudited)


	Q2 2020			Q3 2020			Q4 2020			Q1 2021			Q2 2021			Q3 2021			Q4 2021			Q1 2022
Consolidated data (in millions, except per share)
Diluted net earnings (loss) per share	$	0.12		$	(0.02)		$	2.17		$	0.41		$	1.14		$	0.97		$	1.76		$	3.19
Notable items impact on earnings per share(a)	0.01			(0.25)			1.60			(0.16)			(0.03)			(0.38)			(0.19)			0.78
Adjusted diluted net earnings per share(a)	$	0.11		$	0.23		$	0.57		$	0.57		$	1.17		$	1.35		$	1.95		$	2.41
Diluted weighted average # of shares outstanding	381.3			379.1			382.3			382.8			383.3			383.2			377.5			370.1

Total Net Sales	$	2,045		$	2,382		$	2,458		$	2,297		$	2,801		$	3,419		$	3,841		$	3,922
Cost of goods sold	1,788			2,027			2,046			1,862			2,049			2,554			2,693			2,483
Gross Margin	$	257		$	355		$	412		$	435		$	752		$	865		$	1,148		$	1,439
SG&A	95			98			111			102			108			98			123			133
Other operating (income) expense(p)	76			159			6			20			160			65			55			50
Operating earnings	$	86		$	98		$	295		$	313		$	484		$	702		$	970		$	1,256
Interest expense, net	(49)			(43)			(47)			(45)			(37)			(48)			(39)			(40)
Consolidated foreign currency gain/(loss)	34			6			110			(46)			111			(100)			(44)			311
Earnings from consolidated companies before income taxes	73			66			359			225			559			554			886			1,527
Provision for (benefit from) income taxes	(3)			38			(480)			60			116			177			245			372
Earnings (loss) from consolidated companies	$	76		$	28		$	839		$	165		$	443		$	377		$	641		$	1,155
Equity in net earnings (loss) of nonconsolidated companies	(30)			(32)			(11)			(7)			(4)			(1)			20			31
Less: Net earnings (loss) attributable to noncontrolling interests	(1)			2			—			1			2			4			(4)			4
Net earnings (loss) attributable to Mosaic	$	47		$	(6)		$	828		$	157		$	437		$	372		$	665		$	1,182
After tax Notable items included in earnings	$	6		$	(93)		$	610		$	(63)		$	(10)		$	(145)		$	(73)		$	288

Gross Margin Rate	13		%	15		%	17		%	19		%	27		%	25		%	30		%	37		%

Effective Tax Rate (including discrete tax)	(4)		%	58		%	(134)		%	27		%	21		%	32		%	28		%	24		%
Discrete Tax benefit (expense)	$	3		$	(2)		$	580		$	(4)		$	49		$	(19)		$	(26)		$	9

Depreciation, Depletion and Amortization	$	215		$	206		$	208		$	209		$	204		$	186		$	214		$	226
Accretion Expense	$	17		$	17		$	17		$	17		$	19		$	18		$	19		$	19
Share-Based Compensation Expense	$	8		$	7		$	12		$	15		$	4		$	5		$	6		$	16
Notable Items	$	20		$	101		$	(134)		$	50		$	8		$	163		$	59		$	(374)
Adjusted EBITDA(b)	$	383		$	438		$	508		$	560		$	829		$	969		$	1,227		$	1,451

Net cash provided by (used in) operating activities	$	814		$	341		$	238		$	319		$	1,015		$	423		$	431		$	506
Cash paid for interest (net of amount capitalized)	88			8			90			1			88			18			82			4
Cash paid for income taxes (net of refunds)	(93)			11			21			83			36			54			36			259
Net cash used in investing activities	$	(258)		$	(267)		$	(395)		$	(309)		$	(271)		$	(351)		$	(392)		$	(297)
Capital expenditures	(258)			(265)			(385)			(289)			(297)			(340)			(363)			(291)
Net cash (used in) provided by financing activities	$	(530)		$	(219)		$	(233)		$	122		$	(82)		$	(618)		$	(107)		$	(125)
Cash dividends paid	(19)			(19)			(19)			(19)			(29)			(28)			(28)			(41)
Effect of exchange rate changes on cash	$	(11)		$	(2)		$	39		$	(20)		$	69		$	(32)		$	(5)		$	31
Net change in cash and cash equivalents	$	10		$	(147)		$	(351)		$	112		$	731		$	(579)		$	(72)		$	115

Short-term debt	$	610		$	216		$	—		$	15		$	—		$	—		$	303		$	481
Long-term debt (including current portion)	4,587			4,578			4,578			4,470			4,463			3,995			3,979			3,977
Cash & cash equivalents	1,073			923			574			692			1,418			843			770			882
Net debt	$	4,124		$	3,871		$	4,004		$	3,793		$	3,045		$	3,152		$	3,512		$	3,576

Segment Contributions (in millions)
Phosphate	$	763		$	745		$	990		$	1,001		$	1,175		$	1,281		$	1,466		$	1,496
Potash	555			464			559			477			663			589			897			1,060
Mosaic Fertilizantes	787			1,140			823			764			1,036			1,755			1,535			1,488
Corporate and Other(c)	(60)			33			86			55			(73)			(206)			(57)			(122)
Total net sales	$	2,045		$	2,382		$	2,458		$	2,297		$	2,801		$	3,419		$	3,841		$	3,922

Phosphate	$	(59)		$	(115)		$	134		$	153		$	283		$	326		$	418		$	493
Potash	124			87			95			125			49			220			443			563
Mosaic Fertilizantes	77			144			97			90			170			290			195			187
Corporate and Other(c)	(56)			(18)			(31)			(55)			(18)			(134)			(86)			13
Consolidated operating earnings	$	86		$	98		$	295		$	313		$	484		$	702		$	970		$	1,256



Phosphate(d)	2,235	2,064	2,316	2,062	1,982	1,836	1,813	1,661
Potash(d)	2,559	2,264	2,675	1,980	2,326	1,808	2,072	1,792
Mosaic Fertilizantes	2,558	3,588	2,341	2,064	2,341	3,350	2,347	1,822
Corporate and Other	501	648	629	475	427	292	432	370
Total finished product tonnes sold ('000 tonnes)	7,853	8,564	7,961	6,581	7,076	7,286	6,664	5,645
Sales of Performance Products ('000 tonnes)(e)	985	1,094	1,267	1,023	917	1,132	1,077	711

The Mosaic Company - Phosphate Segment

Selected Calendar Quarter Financial Information

(Unaudited)


	Q2 2020			Q3 2020			Q4 2020			Q1 2021			Q2 2021			Q3 2021			Q4 2021			Q1 2022
Net Sales and Gross Margin (in millions, except per tonne)
Segment income statement
Net Sales	$	763		$	745		$	990		$	1,001		$	1,175		$	1,281		$	1,466		$	1,496
Cost of Goods Sold	745			723			821			828			866			917			1,006			968
Gross Margin	$	18		$	22		$	169		$	173		$	309		$	364		$	460		$	528
Notable Items Included in Gross Margin	(8)			—			—			—			—			(17)			(9)			—
Adjusted Gross Margin(b)	$	26		$	22		$	169		$	173		$	309		$	381		$	469		$	528

SG&A	10			12			7			10			10			7			15			8
Other operating (income) expense	67			125			28			10			16			31			27			27

Operating Earnings	$	(59)		$	(115)		$	134		$	153		$	283		$	326		$	418		$	493
Plus: Depreciation, Depletion and Amortization	113			108			107			102			106			106			115			120
Plus: Accretion Expense	11			12			12			12			10			13			13			13
Plus: Foreign Exchange Gain (Loss)	2			1			(1)			6			8			6			(11)			(7)
Plus: Other Income (Expense)	—			4			2			5			2			1			—			—
Less: Earnings (loss) from Consolidated Noncontrolling Interests	—			2			2			3			2			4			(3)			4
Plus: Notables Items	57			110			14			(4)			1			31			33			17
Adjusted EBITDA(b)	$	124		$	118		$	266		$	271		$	408		$	479		$	571		$	632

Capital expenditures	$	122		$	115		$	163		$	153		$	150		$	161		$	187		$	148
Gross Margin $ / tonne of finished product	$	7		$	11		$	73		$	84		$	156		$	198		$	254		$	318
Adjusted Gross Margin $ / tonne of finished product	$	12		$	11		$	73		$	84		$	156		$	208		$	259		$	318
Gross margin as a percent of sales	2		%	3		%	17		%	17		%	26		%	28		%	31		%	35		%

Freight included in finished goods (in millions)	$	86		$	85		$	109		$	97		$	103		$	96		$	103		$	90
Idle/Turnaround costs (excluding notable items)	$	13		$	25		$	15		$	41		$	38		$	33		$	25		$	31

Operating Data
Sales volumes ('000 tonnes)(d)
DAP/MAP	1,166			1,134			1,304			1,210			880			907			907			917
Performance & other products(f)	957			822			877			724			971			812			813			659
Other products(i)	112			108			135			128			131			117			93			85
Total Finished Product(d)	2,235			2,064			2,316			2,062			1,982			1,836			1,813			1,661

DAP selling price (fob plant)(r)	$	287		$	307		$	363		$	426		$	544		$	605		$	676		$	785
Average finished product selling price (destination)(g)	$	338		$	354		$	422		$	477		$	580		$	681		$	758		$	877

Production Volumes ('000 tonnes)
Total tonnes produced(h)	2,117			2,038			2,144			1,911			1,827			1,738			1,857			1,745
Operating Rate	85		%	82		%	86		%	77		%	73		%	70		%	75		%	70		%

Raw Materials
Ammonia used in production	$	309		$	311		$	319		$	281		$	256		$	255		$	287		$	258
% manufactured ammonia used in production	19		%	23		%	31		%	23		%	29		%	20		%	20		%	34		%
Sulfur used in production	$	966		$	907		$	946		$	841		$	824		$	792		$	848		$	818
% prilled sulfur used in production	17		%	14		%	19		%	27		%	18		%	21		%	17		%	11		%

Realized costs ($/tonne)
Ammonia (tonne)(j)	$	289		$	273		$	277		$	316		$	382		$	424		$	463		$	532
Sulfur (long ton)(k)	$	76		$	86		$	93		$	119		$	172		$	214		$	229		$	281
Blended rock	$	61		$	60		$	61		$	61		$	60		$	59		$	64		$	61

Phosphate cash conversion costs, production / tonne(s)	$	58		$	63		$	63		$	63		$	68		$	68		$	71		$	76
Cash costs of U.S. mined rock/production tonne(t)	$	35		$	39		$	40		$	36		$	37		$	41		$	44		$	50

ARO cash spending (in millions)	$	26		$	28		$	29		$	32		$	33		$	26		$	26		$	33

MWSPC equity earnings (loss)	$	(31)		$	(34)		$	(11)		$	(8)		$	(7)		$	(1)		$	20		$	31


MWSPC total sales tonnes (DAP/MAP/NPK)	540		487		565		612		360		486		653		592

Miski Mayo external sales revenue	$	7	$	7	$	15	$	14	$	17	$	18	$	21	$	26

The Mosaic Company - Potash Segment

Selected Calendar Quarter Financial Information

(Unaudited)


	Q2 2020			Q3 2020			Q4 2020			Q1 2021			Q2 2021			Q3 2021			Q4 2021			Q1 2022
Net Sales and Gross Margin (in millions, except per tonne)
Segment income statement
Net Sales	$	555		$	464		$	559		$	477		$	663		$	589		$	897		$	1,060
Cost of Goods Sold	424			356			439			337			446			353			433			481
Gross Margin	$	131		$	108		$	120		$	140		$	217		$	236		$	464		$	579
Notable Items Included in Gross Margin	(22)			(19)			(16)			(22)			(15)			—			—			—
Adjusted Gross Margin(b)	$	153		$	127		$	136		$	162		$	232		$	236		$	464		$	579

SG&A	6			6			8			7			8			8			11			7
Other operating (income) expense(p)	1			15			17			8			160			8			10			9

Operating Earnings	$	124		$	87		$	95		$	125		$	49		$	220		$	443		$	563
Plus: Depreciation, Depletion and Amortization	70			69			72			80			70			50			68			77
Plus: Accretion Expense	3			2			2			2			4			2			2			2
Plus: Foreign Exchange Gain (Loss)	66			34			77			15			28			(38)			3			17
Plus: Other Income (Expense)	2			1			—			—			—			—			—			—
Plus: Notable Items	(66)			(24)			(67)			(10)			134			38			1			(8)
Adjusted EBITDA(b)	$	199		$	169		$	179		$	212		$	285		$	272		$	517		$	651

Capital expenditures	$	111		$	119		$	149		$	97		$	98		$	123		$	92		$	65
Gross Margin $ / tonne of finished product	$	51		$	48		$	45		$	71		$	93		$	131		$	224		$	323
Adjusted Gross Margin $ / tonne of finished product	$	60		$	56		$	51		$	82		$	100		$	131		$	224		$	323
Gross margin as a percent of sales	24		%	23		%	21		%	29		%	33		%	40		%	52		%	55		%

Supplemental Cost Information
Canadian resource taxes	$	52		$	26		$	36		$	35		$	54		$	57		$	113		$	157
Royalties	$	9		$	8		$	9		$	9		$	10		$	8		$	15		$	27
Freight(l)	$	85		$	73		$	81		$	78		$	99		$	60		$	65		$	70
Idle/Turnaround costs (excluding notable items)	$	—		$	15		$	27		$	2		$	13		$	36		$	11		$	15

Operating Data
Sales volumes ('000 tonnes)(d)
MOP	2,282			2,030			2,435			1,747			2,064			1,547			1,870			1,532
Performance & other products(m)	264			223			228			221			252			202			187			243
Other products(i)	12			11			12			12			10			59			15			17
Total Finished Product(d)	2,559			2,264			2,675			1,980			2,326			1,808			2,072			1,792

Crop Nutrients North America	977			837			942			876			1,117			642			610			618
Crop Nutrients International	1,447			1,327			1,612			967			1,061			1,067			1,301			1,020
Non-Agricultural	135			100			121			137			148			99			161			154
Total Finished Product(d)	2,559			2,264			2,675			1,980			2,326			1,808			2,072			1,792

MOP selling price (fob mine)(u)	$	182		$	170		$	177		$	200		$	243		$	290		$	414		$	582
Average finished product selling price (destination)(g)	$	217		$	205		$	209		$	241		$	285		$	326		$	433		$	591

Production Volumes ('000 tonnes)
Production Volume	2,198			2,111			2,056			2,285			2,131			1,580			2,208			2,200
Operating Rate	91		%	87		%	85		%	94		%	88		%	65		%	81		%	80		%

MOP cash costs of production including brine / production tonne(n)	$	56		$	52		$	59		$	64		$	62		$	72		$	71		$	81
ARO cash spending (in millions)	$	2		$	2		$	3		$	1		$	3		$	7		$	15		$	18



Average CAD / USD	$	1.387	$	1.333	$	1.304	$	1.266	$	1.229	$	1.259	$	1.261	$	1.267

The Mosaic Company - Mosaic Fertilizantes Segment

Selected Calendar Quarter Financial Information

(Unaudited)


	Q2 2020			Q3 2020			Q4 2020			Q1 2021			Q2 2021			Q3 2021			Q4 2021			Q1 2022
Net Sales and Gross Margin (in millions, except per tonne)
Segment income statement
Net Sales	$	787		$	1,140		$	823		$	764		$	1,036		$	1,755		$	1,535		$	1,488
Cost of Goods Sold	686			963			747			661			852			1,423			1,313			1,269
Gross Margin	$	101		$	177		$	76		$	103		$	184		$	332		$	222		$	219
Notable Items Included in Gross Margin	—			—			—			—			(6)			3			23			(18)
Adjusted Gross Margin(b)	$	101		$	177		$	76		$	103		$	190		$	329		$	199		$	237

SG&A	19			17			21			18			18			20			24			21
Other operating (income) expense	5			16			(42)			(5)			(4)			22			3			11

Operating Earnings	$	77		$	144		$	97		$	90		$	170		$	290		$	195		$	187
Plus: Depreciation, Depletion and Amortization	27			25			25			23			24			26			28			25
Plus: Accretion Expense	3			3			3			3			4			3			4			4
Plus: Foreign Exchange Gain (Loss)	(27)			(3)			9			(33)			34			(40)			(31)			119
Plus: Other Income (Expense)	(2)			(1)			(1)			(1)			(2)			(2)			(1)			(1)
Less: Earnings from Consolidated Noncontrolling Interests	—			1			1			—			(1)			—			—			—
Plus: Notable Items	31			14			(17)			22			(28)			40			2			(101)
Adjusted EBITDA(b)	$	109		$	181		$	115		$	104		$	203		$	317		$	197		$	233

Capital expenditures	$	20		$	28		$	72		$	39		$	44		$	52		$	81		$	75
Gross Margin $ / tonne of finished product	$	39		$	49		$	32		$	50		$	78		$	99		$	95		$	120
Adjusted Gross Margin $ / tonne of finished product	$	39		$	49		$	32		$	50		$	81		$	98		$	85		$	130
Gross margin as a percent of sales	13		%	16		%	9		%	13		%	18		%	19		%	14		%	15		%
Idle/Turnaround costs (excluding notable items)	$	36		$	7		$	16		$	5		$	9		$	16		$	25		9

Operating Data
Sales volumes ('000 tonnes)
Phosphate produced in Brazil	1,161			1,343			610			536			686			722			599			737
Potash produced in Brazil	71			85			74			63			66			56			59			46
Purchased nutrients for distribution(q)	1,326			2,160			1,657			1,465			1,589			2,572			1,689			1,039
Total Finished Product	2,558			3,588			2,341			2,064			2,341			3,350			2,347			1,822

Sales of Performance Products ('000 tonnes)(e)	301			518			357			176			299			584			375			155

Brazil MAP price (Brazil production delivered price to third party)	$	314		$	366		$	384		$	421		$	589		$	622		$	765		$	882
Average finished product selling price (destination)(g)	$	308		$	318		$	352		$	370		$	442		$	524		$	654		$	817

Production Volumes ('000 tonnes)
MAP	306			284			219			235			218			210			233			261
TSP	126			135			99			107			127			130			102			131
SSP	331			335			274			301			287			350			349			312
DCP	140			125			126			106			117			130			124			127
NPK	61			37			34			54			52			65			55			64
Total phosphate tonnes produced	964			916			752			803			801			885			863			895
MOP	113			109			110			82			92			97			97			94

Phosphate operating rate	99		%	94		%	77		%	82		%	82		%	91		%	89		%	97		%
Potash operating rate	87		%	84		%	84		%	63		%	71		%	75		%	74		%	72		%

Realized Costs ($/tonne)
Ammonia/tonne	$	327		$	329		$	338		$	381		$	527		$	640		$	775		$	1,145


Sulfur (long ton)	$	100	$	107	$	113	$	124	$	177	$	222	$	251	$	337
Blended rock	$	67	$	65	$	71	$	73	$	80	$	81	$	83	$	105

Purchases ('000 tonnes)
DAP/MAP from Mosaic	193		82		109		64		96		62		89		102
MicroEssentials® from Mosaic	407		373		189		203		418		344		243		248
Potash from Mosaic/Canpotex	708		622		383		489		473		1,023		550		398

Phosphate cash conversion costs in BRL, production / tonne(s)	R$265		R$302		R$376		R$353		R$383		R$384		R$432		R$504
Potash cash conversion costs in BRL, production / tonne	R$661		R$810		R$835		R$879		R$1,076		R$986		R$1,059		R$1,296
Mined rock costs in BRL, cash produced / tonne	R$314		R$324		R$375		R$392		R$409		R$430		R$456		R$557
ARO cash spending (in millions)	$	3	$	4	$	6	$	5	$	5	$	5	$	5	$	2

Average BRL / USD	$	5.376	$	5.373	$	5.403	$	5.470	$	5.301	$	5.225	$	5.579	$	5.235

The Mosaic Company - Corporate and Other Segment

Selected Calendar Quarter Financial Information

(Unaudited)


	Q2 2020		Q3 2020		Q4 2020		Q1 2021		Q2 2021		Q3 2021		Q4 2021		Q1 2022
Net Sales and Gross Margin (in millions)
Segment income statement
Net Sales	$	(60)	$	33	$	86	$	55	$	(73)	$	(206)	$	(57)	$	(122)
Cost of Goods Sold	(67)		(15)		39		36		(115)		(139)		(59)		(235)
Gross Margin (Loss)	$	7	$	48	$	47	$	19	$	42	$	(67)	$	2	$	113
Notable items Included in Gross Margin	9		25		39		(8)		38		(26)		(18)		100
Adjusted Gross Margin (Loss)(b)	$	(2)	$	23	$	8	$	27	$	4	$	(41)	$	20	$	13

SG&A	60		63		75		67		72		63		73		97
Other operating (income) expense	3		3		3		7		(12)		4		15		3

Operating Earnings (Loss)	$	(56)	$	(18)	$	(31)	$	(55)	$	(18)	$	(134)	$	(86)	$	13
Plus: Depreciation, Depletion and Amortization	5		4		4		4		4		4		3		4
Plus: Share-Based Compensation Expense	8		7		12		15		4		5		6		16
Plus: Foreign Exchange Gain (Loss)	(7)		(26)		25		(34)		41		(28)		(4)		182
Plus: Other Income (Expense)	4		—		—		—		1		—		—		2
Less: Earnings (Loss) from Consolidated Noncontrolling Interests	1		(2)		(2)		(1)		—		—		—		—
Plus: Notable Items	(2)		1		(64)		42		(99)		54		23		(282)
Adjusted EBITDA(b)	$	(49)	$	(30)	$	(52)	$	(27)	$	(67)	$	(99)	$	(58)	$	(65)

Elimination of profit in inventory included in COGS	$	(13)	$	14	$	(2)	$	(3)	$	(39)	$	(60)	$	(29)	$	(76)
Unrealized gain (loss) on derivatives included in COGS	$	9	$	24	$	39	$	(8)	$	38	$	(26)	$	(17)	$	100

Operating Data
Sales volumes ('000 tonnes)	501		648		629		475		427		292		432		370
Sales of Performance Products ('000 tonnes)	32		21		30		29		28		13		12		1

Average finished product selling price (destination)(g)	$	321	$	310	$	317	$	336	$	421	$	466	$	539	$	597

Purchases ('000 tonnes)
DAP/MAP from Mosaic	—		—		—		—		—		—		—		—
MicroEssentials® from Mosaic	—		11		12		—		5		1		4		15
Potash from Mosaic/Canpotex	404		253		363		400		163		218		304		220

The Mosaic Company

Selected Calendar Quarter Financial Information

(Unaudited)

Notable Items


Q1 2022
Description	Segment	Line Item	Amount (in millions)		Tax Effect(v) (in millions)		EPS Impact (per basic share)

Foreign currency transaction gain (loss)	Consolidated	Foreign currency transaction gain (loss)	$	311	$	(78)	$	0.62
Unrealized gain (loss) on derivatives	Corporate and Other	Cost of goods sold	100		(25)		0.21
Closed and indefinitely idled facility costs	Phosphate	Other operating income (expense)	(9)		3		(0.02)
FX functional currency	Mosaic Fertilizantes	Cost of goods sold	(18)		5		(0.03)
Fixed asset write-off	Phosphate	Other operating income (expense)	(4)		1		(0.01)
ARO Adjustment	Potash	Other operating income (expense)	(9)		2		(0.02)
Discrete tax items	Consolidated	(Provision for) benefit from income taxes	—		9		0.03
Total Notable Items			$	371	$	(83)	$	0.78


Q4 2021
Description	Segment	Line Item	Amount (in millions)		Tax Effect(v) (in millions)		EPS Impact (per basic share)

Foreign currency transaction gain (loss)	Consolidated	Foreign currency transaction gain (loss)	$	(44)	$	11	$	(0.09)
Unrealized gain (loss) on derivatives	Corporate and Other	Cost of goods sold	(18)		5		(0.03)
Closed and indefinitely idled facility costs	Phosphates	Other operating income (expense)	(9)		3		(0.02)
Pre-acquisition reserve adjustment	Mosaic Fertilizantes	Other operating income (expense)	5		(2)		0.01
Realized gain on RCRA Trust Securities	Phosphates	Other non-operating income (expense)	(2)		1		—
Discrete tax items	Consolidated	(Provision for) benefit from income taxes	—		(26)		(0.06)
ARO Adjustment	Phosphates	Other operating income (expense)	(5)		1		(0.01)
FX functional currency	Mosaic Fertilizantes	Cost of goods sold	23		(6)		0.04
Hurricane Ida recovery	Phosphates	Cost of goods sold/Other income (expense)	(9)		2		(0.02)
ARO Adjustment	Potash	Other operating income (expense)	(4)		1		(0.01)
Total Notable Items			$	(63)	$	(10)	$	(0.19)


Q3 2021
Description	Segment	Line Item	Amount (in millions)		Tax Effect(v) (in millions)		EPS Impact (per basic share)

Foreign currency transaction gain (loss)	Consolidated	Foreign currency transaction gain (loss)	$	(100)	$	25	$	(0.19)
Unrealized gain (loss) on derivatives	Corporate and Other	Cost of goods sold	(26)		6		(0.05)
Closed and indefinitely idled facility costs	Phosphate	Other operating income (expense)	(11)		3		(0.03)
Pre-acquisition reserve adjustment	Mosaic Fertilizantes	Other operating income (expense)	(3)		1		(0.01)
Discrete tax items	Consolidated	(Provision for) benefit from income taxes	—		(19)		(0.05)
ARO Adjustment	Phosphate	Other operating income (expense)	(13)		3		(0.03)
FX functional currency	Mosaic Fertilizantes	Cost of goods sold	3		(1)		0.01
Hurricane Ida recovery	Phosphate	Cost of goods sold/Other income (expense)	(18)		5		(0.03)
Total Notable Items			$	(168)	$	23	$	(0.38)


Q2 2021
Description	Segment	Line Item	Amount (in millions)		Tax Effect(v) (in millions)		EPS Impact (per basic share)

Foreign currency transaction gain (loss)	Consolidated	Foreign currency transaction gain (loss)	$	111	$	(27)	$	0.21
Unrealized gain (loss) on derivatives	Corporate and Other	Cost of goods sold	38		(10)		0.08
Closed and indefinitely idled facility costs	Phosphate	Other operating income (expense)	(11)		3		(0.02)
Closed and indefinitely idled facility costs	Potash	Other operating income (expense)	(4)		1		—
Accelerated depreciation	Potash	Cost of goods sold	(15)		4		(0.04)
Realized gain on RCRA Trust Securities	Phosphate	Other non-operating income (expense)	1		—		—
Discrete tax items	Consolidated	(Provision for) benefit from income taxes	—		6		0.01
ARO Adjustment	Phosphate	Other operating income (expense)	(3)		1		—
FX functional currency	Mosaic Fertilizantes	Cost of goods sold	(6)		1		(0.01)
Esterhazy closure costs	Potash	Restructuring	(158)		43		(0.30)
Gain on sale of warehouse	Corporate and Other	Other operating income (expense)	20		(5)		0.04
Total Notable Items			$	(27)	$	17	$	(0.03)


Q1 2021
Description	Segment	Line Item	Amount (in millions)		Tax Effect(v) (in millions)		EPS Impact (per basic share)

Foreign currency transaction gain (loss)	Consolidated	Foreign currency transaction gain (loss)	$	(46)	$	10	$	(0.09)
Unrealized gain (loss) on derivatives	Corporate and Other	Cost of goods sold	(8)		2		(0.02)
Closed and indefinitely idled facility costs	Phosphate	Other operating income (expense)	(10)		3		(0.02)
Closed and indefinitely idled facility costs	Potash	Other operating income (expense)	(5)		2		(0.01)
Accelerated depreciation	Potash	Cost of goods sold	(22)		5		(0.04)
Pre-acquisition reserve adjustment	Mosaic Fertilizantes	Other operating income (expense)	11		(3)		0.02
Realized gain on RCRA Trust Securities	Phosphate	Other non-operating income (expense)	3		(1)		0.01
Discrete tax items	Consolidated	(Provision for) benefit from income taxes	—		(4)		(0.01)
Total Notable Items			$	(77)	$	14	$	(0.16)


Q4 2020
Description	Segment	Line Item	Amount (in millions)		Tax Effect(v) (in millions)		EPS Impact (per basic share)

Foreign currency transaction gain (loss)	Consolidated	Foreign currency transaction gain (loss)	$	110	$	(26)	$	0.22
Unrealized gain (loss) on derivatives	Corporate and Other	Cost of goods sold	39		(9)		0.08
Pre-acquisition contingencies	Mosaic Fertilizantes	Other operating income (expense)	8		(2)		0.02
Accelerated depreciation	Potash	Cost of goods sold	(16)		4		(0.03)
Closed and indefinitely idled facility costs	Phosphate	Other operating income (expense)	(10)		2		(0.03)
Closed and indefinitely idled facility costs	Potash	Other operating income (expense)	(7)		2		(0.01)
Discrete tax items	Consolidated	(Provision for) benefit from income taxes	—		580		1.52
ARO adjustment	Phosphate	Other operating income (expense)	(5)		1		(0.01)
Tax Rate Adjustment	Consolidated	(Provision for) benefit from income taxes	—		(59)		(0.15)
ARO Adjustment	Potash	Other operating income (expense)	(3)		1		(0.01)
Total Notable Items			$	116	$	494	$	1.60


Q3 2020
Description	Segment	Line Item	Amount (in millions)		Tax Effect(v) (in millions)		EPS Impact (per basic share)

Foreign currency transaction gain (loss)	Consolidated	Foreign currency transaction gain (loss)	$	6	$	(2)	$	0.01
Unrealized gain (loss) on derivatives	Corporate and Other	Cost of goods sold	25		(10)		0.03
Legal contingencies	Mosaic Fertilizantes	Other operating income (expense)	(8)		3		(0.01)
Accelerated depreciation	Potash	Cost of goods sold	(19)		7		(0.03)
Closed and indefinitely idled facility costs	Phosphate	Other operating income (expense)	(11)		4		(0.02)
Closed and indefinitely idled facility costs	Potash	Other operating income (expense)	(6)		2		(0.01)
Realized gain on RCRA Trust Securities	Phosphate	Other non-operating income (expense)	6		(2)		0.01
Discrete tax items	Consolidated	(Provision for) benefit from income taxes	—		(2)		(0.01)
ARO adjustment	Phosphate	Other operating income (expense)	(73)		28		(0.12)
Tax Rate Adjustment	Consolidated	(Provision for) benefit from income taxes	—		(14)		(0.04)
ARO adjustment	Mosaic Fertilizantes	Other operating income (expense)	(3)		1		—
New Wales environmental reserve	Phosphate	Other operating income (expense)	(35)		14		(0.05)
Integration costs	Consolidated	Other operating income (expense)	(7)		3		(0.01)
Total Notable Items			$	(125)	$	32	$	(0.25)


Q2 2020
Description	Segment	Line Item	Amount (in millions)		Tax Effect(v) (in millions)		EPS Impact (per basic share)

Foreign currency transaction gain (loss)	Consolidated	Foreign currency transaction gain (loss)	$	34	$	(15)	$	0.05
Unrealized gain (loss) on derivatives	Corporate and Other	Cost of goods sold	9		(4)		0.01
Accelerated depreciation	Potash	Cost of goods sold	(22)		9		(0.03)
Closed and indefinitely idled facility costs	Phosphate	Other operating income (expense)	(12)		5		(0.02)
Closed and indefinitely idled facility costs	Potash	Other operating income (expense)	(7)		3		(0.01)
Realized gain on RCRA Trust Securities	Phosphate	Other non-operating income (expense)	3		(1)		—
Discrete tax items	Consolidated	(Provision for) benefit from income taxes	—		3		0.01
Government mandated mine shutdown	Phosphate	Cost of goods sold	(8)		3		(0.01)
Legal settlement	Potash	Other operating income (expense)	7		(3)		0.01
Write-down of assets	Mosaic Fertilizantes	Other operating income (expense)	(4)		2		(0.01)
ARO adjustment - closed facilities	Phosphate	Other operating income (expense)	(50)		22		(0.07)
Tax Rate Change	Consolidated	(Provision for) benefit from income taxes	—		32		0.08
Total Notable Items			$	(50)	$	56	$	0.01

Footnotes

(a)Notable items impact on Earnings Per Share is calculated as notable item amount plus income tax effect, based on expected annual effective tax rate, divided by diluted weighted average shares. Adjusted Diluted Net Earnings per Share is defined as diluted net earnings (loss) per share excluding the impact of notable items. See "Non-GAAP Reconciliations".

(b)See definitions of Adjusted EBITDA and Adjusted Gross Margin under “Non-GAAP Reconciliations”.

(c)Includes elimination of intersegment sales.

(d)Finished product sales volumes include intersegment sales.

(e)Includes MicroEssentials, K-Mag, Aspire and Sus-Terra sales tonnes.

(f)Includes MicroEssentials performance products.

(g)Average price of all finished products sold by Potash, Phosphate, Mosaic Fertilizantes and India/China.

(h)Includes crop nutrient dry concentrates and animal feed ingredients.

(i)Includes finished goods sales of feed and other products.

(j)Amounts are representative of our average ammonia costs in cost of goods sold.

(k)Amounts are representative of our average sulfur costs in cost of goods sold.

(l)Includes inbound freight, outbound freight and warehousing costs on K-Mag, animal feed and domestic MOP sales.

(m)Includes K-Mag, and Aspire finished performance products.

(n)MOP cash costs of production are reflective of actual costs during the period excluding brine management costs, depreciation, depletion, accretion, carbon-based and Canadian resource tax, idle and turnaround costs. Total Production costs for MOP production excludes K-Mag costs, Aspire raw material costs and incremental Aspire operating costs.

(o)Includes industrial and feed sales. Price has been calculated using the average monthly foreign exchange rate.

(p)Includes $158 million related to the closure of the Esterhazy K1 and K2 mine shafts in Q2 2021.

(q)Includes sales volumes of phosphate and potash nutrients purchased from other Mosaic segments and Canpotex.

(r)Includes intersegment sales.

(s)Total production costs less depreciation, ARO costs including accretion and idle and turnaround costs divided by metric tonnes of finished phosphate production in the period.

(t)Total production cost less depreciation/depletion, ARO costs including accretion and idle and turnaround costs divided by metric tonnes of rock produced in the period.

(u)Tax impact is based on our expected annual effective rate.

The Mosaic Company

Selected Calendar Quarter Financial Information

(Unaudited)

Non-GAAP Financial Measures

In addition to financial measures prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), Mosaic has presented in this Selected Calendar Quarter Financial Information certain non-GAAP financial measures, or measures calculated based on non-GAAP financial measures, including: Adjusted Diluted Net Earnings Per Share, Consolidated Adjusted EBITDA, Segment Adjusted EBITDA, and Adjusted Gross Margin. Generally, a non-GAAP financial measure is a supplemental numerical measure of a company's performance, financial position or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. Each of the non-GAAP financial measures we present is determined as described below.

The non-GAAP financial measures we present should not be considered as substitutes for, or superior to, measures of financial performance prepared in accordance with GAAP. In addition, because these non-GAAP measures, as presented, are not determined in accordance with GAAP, they are thus susceptible to varying interpretations and calculations and may not be comparable to other similarly titled measures of other companies.

Adjusted Diluted Net Earnings Per Share

Adjusted diluted net earnings per share is defined as diluted net earnings per share, excluding the impact of notable items. Notable items impact on diluted net earnings per share is calculated as notable item amount plus income tax effect, based on expected annual effective tax rate, divided by diluted weighted average shares. Management believes that adjusted diluted net earnings per share provides securities analysts, investors and others, in addition to management, with useful supplemental information regarding our performance by excluding certain items that may not be indicative of or are unrelated to our core operating results. Management utilizes adjusted diluted net earnings per share in analyzing and assessing Mosaic’s overall performance, for financial and operating decision-making, and to forecast and plan for the future periods. Adjusted diluted net earnings per share also assists our management in comparing our and our competitors' operating results. Reconciliations of adjusted diluted net earnings per share to diluted net earnings per share for the periods presented are provided under “Consolidated Data” on the first page of this Selected Calendar Quarter Financial Information.

Consolidated Adjusted EBITDA

Consolidated Adjusted EBITDA is defined as consolidated Net Income (Loss) before net interest expense, depreciation, depletion and amortization, asset retirement obligation accretion, share-based compensation expense and provision for/(benefit from) income taxes less equity in net earnings (loss) of nonconsolidated companies, net of dividends. Consolidated Adjusted EBITDA is also adjusted for notable items that management excludes in analyzing our performance. Consolidated Adjusted EBITDA is a non-GAAP financial measure that we provide to assist securities analysts, investors, lenders and others in their comparisons of operational performance, valuation and debt capacity across companies with differing capital, tax and legal structures. Consolidated Adjusted EBITDA should not be considered as an alternative to, or more meaningful than, consolidated Net Income (Loss) as a measure of operating performance. A reconciliation of Consolidated Net Income (Loss) to Consolidated Adjusted EBITDA is provided below.


(in millions)	Q2 2020		Q3 2020		Q4 2020		Q1 2021		Q2 2021		Q3 2021		Q4 2021		Q1 2022
Consolidated Net Income (Loss)	$	47	$	(6)	$	828	$	157	$	437	$	372	$	665	$	1,182
Less: Consolidated Interest Expense, Net	(49)		(43)		(47)		(45)		(37)		(48)		(39)		(40)
Plus: Consolidated Depreciation, Depletion & Amortization	215		206		208		209		204		186		214		226
Plus: Accretion Expense	17		17		15		17		19		17		19		20
Plus: Share-Based Compensation Expense (Benefit)	8		7		12		15		4		5		6		16
Plus: Consolidated Provision for (Benefit from) Income Taxes	(3)		38		(480)		60		116		177		245		372
Less: Equity in net earnings (loss) of nonconsolidated companies, net of dividends	(30)		(32)		(12)		(7)		(4)		(1)		20		31
Plus: Notable Items	20		101		(134)		50		8		163		59		(374)
Consolidated Adjusted EBITDA	$	383	$	438	$	508	$	560	$	829	$	969	$	1,227	$	1,451

Segment Adjusted EBITDA

Adjusted EBITDA presented at the segment level is defined as the related segment's operating earnings (loss) plus depreciation, depletion and amortization plus asset retirement obligation accretion plus foreign exchange gain (loss) plus other income (expense) less equity earnings (loss) from noncontrolling interests. Adjusted EBITDA is also adjusted for notable items that management excludes in analyzing our performance. We provide these non-GAAP financial measures because we believe they are relevant and useful to securities analysts, investors and others because they are part of our internal management reporting and planning process, and our management uses these measures to evaluate the operational performance and valuation of our segments. Management also uses these measures as a method of comparing segment, performance with that of its competitors. Segment Adjusted EBITDA should not be considered as alternatives to, or more meaningful than, segment Operating Earnings (Loss) and segment Operating Earnings (Loss)/sales tonne, respectively, as measures of operating performance. Management believes Operating Earnings (Loss) and segment Operating Earnings (Loss)/sales tonne, respectively, are the most directly comparable GAAP measures because we do not allocate taxes on a segment basis. Reconciliations of Segment Adjusted EBITDA to segment Operating Earnings (Loss) and segment Operating (Loss) Earnings/sales tonne, respectively, are provided as part of each segment's Selected Calendar Quarter Financial Information.

Adjusted Gross Margin

Adjusted gross margin is defined as gross margin excluding the impact of notable items. Management believes the adjusted measures provides security analysts, investors, management & others with useful supplemental information regarding our performance by excluding certain items that may not be indicative of, or are unrelated to, our core operating results. Management utilizes adjusted gross margin in analyzing and assessing Mosaic's overall performance for financial and operating decision-making and to forecast and plan for future periods.