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The Mosaic Company reports:

First quarter net income of $1.18 billion, Adjusted EBITDA(1) of $1.45 billion

Colonsay is now running at an expanded annual run-rate of 1.3 million tonnes. Production growth expected over the next 18 months in both phosphates and potash

Capital return totaled $463 million in the first quarter

Tampa, FL - The Mosaic Company (NYSE: MOS), reported net income of $1.18 billion, or $3.19 per diluted share, for the first quarter of 2022. Adjusted EPS(1) was $2.41 and Adjusted EBITDA(1) was $1.45 billion. Gross margin was $1.44 billion, compared to $435 million a year ago.

"Mosaic's first quarter results show the strength of our business, which is able to meet customer needs while also delivering value for our shareholders," said Joc O'Rourke, President and CEO. "Looking forward, we expect higher annual production across our global platform in both potash and phosphates, as a result of the completed ramp up of Esterhazy K3, a higher run-rate at Colonsay, and a recovery of phosphate output from our North American operations. We take our responsibility of helping the world grow the food it needs very seriously and are working to mitigate some of the impact of reduced global supply by efficiently maximizing output."

To view the complete report, click here.

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