EX-99.1 2 dex991.htm PRESENTATION ENTITLED "THE MOSAIC COMPANY - OVERVIEW AND OUTLOOK" Presentation entitled "The Mosaic Company - Overview and Outlook"
The Mosaic Company
June 14, 2006
Merrill Lynch Agricultural Chemicals Conference
Overview and Outlook
Exhibit 99.1

2
June 14, 2006
Safe Harbor Statement
Certain statements contained herein constitute “forward-looking statements”
as that term is defined under the Private
Securities Litigation Reform Act of 1995.  Although we believe the assumptions made in connection with the forward-looking
statements are reasonable, they do involve known and unknown risks, uncertainties and other factors that may cause the
actual results, performance or achievements of The Mosaic Company, or industry results generally, to be materially different
from those contemplated or projected, forecasted, estimated or budgeted (whether express or implied) by such statements.
These risks and uncertainties include but are not limited to the
predictability of fertilizer, raw material and energy markets
subject to competitive market pressures; changes in foreign currency and exchange rates; international trade risks including,
but not limited to, changes in policy by foreign governments; changes in environmental and other governmental regulation;
the ability to successfully integrate the former operations of Cargill Crop Nutrition and IMC Global Inc. and the ability to fully
realize the expected cost savings from their business combination within expected time frames; adverse weather conditions
affecting operations in central Florida or the Gulf Coast of the
United States, including potential hurricanes or excess rainfall;
actual costs of closure of the South Pierce, Green Bay and Fort Green facilities differing from management’s current
estimates; realization of management’s expectations regarding reduced raw material or operating costs, reduced capital
expenditures, improved cash flow and anticipated time frames for
the closures; and the ability to obtain any requisite
waivers or amendments from lenders or regulatory agencies with oversight of The Mosaic Company or its phosphate
business, as well as other risks and uncertainties reported from
time to time in The Mosaic Company’s reports filed with the
Securities and Exchange Commission. Actual results may differ from those set forth in the forward-looking statements.
This presentation may not be distributed, reproduced, or used without the express written consent of The Mosaic Company.
Safe Harbor Statement

3
June 14, 2006
Business Overview
Phosphates
Potash
Nitrogen / Offshore
Financial Outlook

4
June 14, 2006
Mosaic will be the global leader
in nourishing crops, delivering distinctive
value to world agriculture and to all we touch.

5
June 14, 2006
Ag Fundamentals are Solid
Population growth plus per capita GDP growth in developing countries
Leads to more protein in diets and increasing growth in feed grain demand
Along with growth in bio-fuels, especially ethanol in U.S.
Limited arable land results in need for higher productivity / increase in yields
Equals growth in fertilizer demand
Fertilizer
Demand
Growth
Increased
Feed Grain
Consumption
More
Protein
in Diet
Pound of feed  per
Pound of meat produced
Cattle
8
Hogs
4
Poultry
2

6
June 14, 2006
The ethanol impact in the USA
U.S. Corn Utilized in Fuel Ethanol Production
0.00
0.25
0.50
0.75
1.00
1.25
1.50
1.75
2.00
2.25
2.50
2.75
3.00
80
82
84
86
88
90
92
94
96
98
00
02
04
06F
08F
10F
12F
Billion Bushels
Source: USDA
U.S. Corn Acreage
50
55
60
65
70
75
80
85
90
95
90
92
94
96
98
00
02
04
06F
08F
10F
12F
Source: USDA and Mosaic
USDA
projects
an
increase
in
fuel
ethanol
production
will
help drive
corn plantings to 85 million acres in 2009 and
90 million acres in 2012.

7
June 14, 2006
Mosaic Net Sales by Country
Canpotex
7%
China
7%
Argentina
3%
Canada
2%
India
12%
United States
32%
Other
22%
Brazil
15%
March 2005 –
February 2006 Total Net Sales $5.4 Billion

8
June 14, 2006
Mosaic’s Sales and Operating Earnings
1213.3
1229.5
3122.0
68.8
0.0
500.0
1000.0
1500.0
2000.0
2500.0
3000.0
3500.0
Phosphate
Potash
Offshore
Nitrogen
Total Net Sales -
$5.4 billion
-51.7
-36.7
344.9
198.3
10
-100
0
100
200
300
400
Phosphate
Potash
Offshore
Nitrogen
Other
Total Operating Earnings -
$464.8 million
March 2005 –
February, 2006

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June 14, 2006
Business Overview
Phosphates
Potash
Nitrogen / Offshore
Financial Outlook

Mosaic’s Phosphates Segment
World’s largest manufacturer
Improving global fundamentals
Restructured to lower costs and operate efficiently
Closed 1 high-cost mine and 2 high-cost concentrates plants in Florida
Operate remaining mines and plants at full capacity
Focus on marketing products with high value 
Such as MAP, MicroEssentials™
and feed phosphates
Key:  Operate a low-cost
Key:  Operate a low-cost
and globally competitive
and globally competitive
Phosphates business
Phosphates business

11
June 14, 2006
Phosphate Restructuring Strategy

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June 14, 2006
World Processed Phosphate Import Demand
In 2006, world import
demand is forecast to decline
by about 4%.
India’s import levels to
remain above 2 million tonnes
Higher MAP but lower TSP
imports by Brazil
China continues to import
over 1 million tonnes
Processed phosphate
includes DAP, MAP and TSP
Processed Phosphate Trade
10
15
20
25
90
91
92
93
94
95
96
97
98
99
00
01
02
03
04
05E
06F
MMT
Source: Fertecon and Mosaic
Processed Phosphate Import Demand by Region
0
2
4
6
8
10
12
90
91
92
93
94
95
96
97
98
99
00
01
02
03
04
05E
06F
MMT
Asia
Europe
Latin America
Source: Fertecon and Mosaic

Phosphate Export Supply Declining
In 2006, world exports are forecast to decline by about 4% with U.S. exports
declining by over one million tonnes following the closure of the
USAC plant and two Mosaic phosphate plants.
Processed Phosphate Export Supply by Region
0
2
4
6
8
10
12
14
90
91
92
93
94
95
96
97
98
99
00
01
02
03
04
05E
06F
MMT
USA
Africa & Mideast
FSU
Source: Fertecon and Mosaic

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June 14, 2006
DAP Prices at record highs
DAP Prices have been on the rise for the
last three years.  After a modest dip this winter, they are back
near $267 to $270 per tonne.
DAP Prices
US$ MT fob Tampa Vessel
100
125
150
175
200
225
250
275
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
00
01
02
03
04
05
06
Source: Fertecon

15
June 14, 2006
DAP Market Margins Recovering
The DAP market margin has recently started to recover due to
falling ammonia prices and rising DAP prices.
DAP Market Margin
Calculated from Published Spot Prices for a Central Florida Plant
30
40
50
60
70
80
90
100
110
120
130
140
150
160
85
86
87
88
89
90
91
92
93
94
95
96
97
98
99
00
01
02
03
04
05
06
$ MT
Source: Fertecon, Green Markets, Mosaic

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June 14, 2006
Mosaic’s preliminary estimate of
Florida land holdings total about
260,000 acres or approximately 400
square miles
Develop a strategy to maximize
value of Florida land assets
Florida Land Holdings
Over 300,000 people move to
Over 300,000 people move to
Florida each year
Florida each year

17
June 14, 2006
Business Overview
Phosphates
Potash
Nitrogen / Offshore
Financial Outlook

18
June 14, 2006
Export Shipments
3.50 mmt
41% of Total
North American Shipments
5.10 mmt
59% of Total
Top 5 Export Markets
China
Brazil
India
Indonesia
Malaysia
Potash -
World Scale

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June 14, 2006
Mosaic’s Potash Segment
Great fundamentals
Canpotex -
China contract negotiations continue
Superior earnings with high cash generation
Excellent platform for growth
Low cost and intelligent operator
One of the largest manufacturers in the world
World Potash Demand Growth
to Recover in 2007

20
June 14, 2006
Potash Price Stabilizes
Cornbelt-Saskatchewan Potash Prices
US$ ST Granular Grade
60
80
100
120
140
160
180
200
220
240
90
91
92
93
94
95
96
97
98
99
00
01
02
03
04
05
06
Cornbelt Warehouse
Saskatchewan Mine
Source: Green Markets

21
June 14, 2006
Business Overview
Phosphates
Potash
Nitrogen / Offshore
Financial Outlook

22
June 14, 2006
Mosaic’s Nitrogen Segment
Equity stake of 50% in Saskferco Products Inc., a world scale facility
Energy-efficient plant with 1.2 million tonnes nitrogen capacity
Continued to run profitably even with high-priced natural gas
Mosaic is the agency marketer for Saskferco production
Saskferco’s equity earnings were $8 million in the first 9 months of fiscal
2006

23
June 14, 2006
Mosaic’s Offshore Segment
Emphasis on distribution of Mosaic’s production
Manages seasonality of global demand
Mainly Brazil and other large growth markets
Challenging short-term environment, but promising long-term growth
Reduce supply chain costs
On the ground expertise and timely market intelligence
Equity earnings of $20 million in the first 9 months of fiscal 2006
Offshore currently distributes about
1 million tonnes of Mosaic’s production

24
June 14, 2006
Business Overview
Phosphates
Potash
Nitrogen / Offshore
Financial Outlook

25
June 14, 2006
Fiscal 2006 Highlights
Fiscal 2006 was a year of challenges:
Hurricanes, record high energy prices, transportation/supply
disruptions, delayed customer purchases, poor farmer economics
in Brazil
Phosphate fertilizer and feed sales volume of about 10.3
million tonnes
Potash sales volume of about 6.5 million tonnes
Weak cash flow
Q4 charge of $300 to $400 million for phosphate restructuring

26
June 14, 2006
Fiscal 2007 Financial Outlook
Phosphate fertilizer and feed sales volume of 9.0 to 9.4
million tonnes
Phosphate market margin strong in Q1
Potash sales volume of about 7.7 to 8.2 million tonnes
Potash price to remain strong
Equity earnings of $15 to $25 million
Capital spending of $250 to $290 million
S,G&A cost projected at about $250 million
Interest cost around $40 million per quarter including
about $12 million of amortization credit
Tax rate to range from 45% to 50%

27
June 14, 2006
Sensitivities
Pre-Tax
Change
Earnings
Market Prices and Volume
+/-
($ in millions)
EPS
MOP Price ($/tonne)
$10
$74
$0.09
Potash Volume (000 tonnes)
500
$36
$0.05
DAP Price ($/tonne)
$10
$84
$0.11
Phosphate Volume (000 tonnes)
500
$20
$0.03
Input Costs - Raw Materials
Sulfur ($/lt)
$5
$22
$0.03
Ammonia ($/tonne)
$25
$34
$0.04
Natural Gas ($/mmbtu)
$1
$36
$0.04

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June 14, 2006
Mosaic Finance Priorities
Restructure phosphate capacity to lower costs
Grow our successful potash business
Generate cash to pay down debt / lower interest expense
Strive towards investment grade goal
Implement new ERP / SOX / financial controls
Demonstrate market leadership, react swiftly and exercise
strong discipline
Focus on
Execution and Cash Flow
Generation

29
June 14, 2006
Mosaic Overview
Management:   Fritz Corrigan, President & CEO
Jim Thompson, Executive Vice President
Larry Stranghoener, Executive Vice President & CFO
Website:  www.Mosaicco.com
Headquarters:  3033 Campus Drive, Suite E490, Plymouth, MN 55441
Trading Symbol:  NYSE: MOS
Investor Relations:  Doug Hoadley, 763-577-2867