The Mosaic Company announced today a settlement agreement with the Sierra Club, Manasota-88, and People for Protecting the Peace River in litigation challenging the company’s federal wetlands permit at the South Fort Meade mine. This permit allows mining of the Hardee County Extension near Bowling Green, Fla. The settlement, which is subject to approval by the courts, will resolve the pending appellate and trial court proceedings regarding the permit in their entirety and allow mining at the South Fort Meade mine to proceed. Upon approval of the courts, Mosaic will soon begin mining the Hardee County Extension of its South Fort Meade mine in accordance with federal, state and local permits and approvals. The Hardee County extension will allow 10 additional years of mining at the South Fort Meade Mine, which historically accounts for nearly 20 percent of U.S. phosphate rock production. Since 2010, the mine has operated at a reduced capacity due to the permit challenge. Today’s settlement agreement will conclude that litigation and allow the mine to return to its full operating capacity. Any financial charges incurred as a result of the settlement are not expected to be material. The agreement requires the plaintiffs to dismiss their challenge to the South Fort Meade permit in exchange for certain commitments by Mosaic.

• Preservation of approximately 130 acres of land otherwise eligible to be mined by Mosaic