The Mosaic Company (MOS) Issues Additional Business Update

The Mosaic Company (NYSE: MOS) today provided an update on the impact of the recent hurricanes on North American phosphate operations and other business events.

Mosaic is pleased to announce that all Florida based employees are safe and accounted for. The recovery efforts post Hurricanes Milton and Helene have progressed well with all Florida production facilities having returned to normal operations except Riverview which has resumed production and is expected to return to normal rates by the end of the week, The mining sites are in the process of resuming operations. South Fort Meade is expected to return to normal operations early this week, and Four Corners in the next one to two weeks. The quick return to normal operations is a result of the proactive and orderly storm management practices followed.

"Many Mosaic people came together to ensure that our Florida operations were prepared for the storms, and prepared to recover," said President and CEO Bruce Bodine. "Their efforts are particularly noteworthy given that many of our people faced significant storm impacts at home. I am extremely grateful to all of them."

Mosaic expects the hurricane related production impacts to be in the range of 200-250 thousand tonnes in the fourth quarter.

Additionally, it has been publicly reported that a key customer of the Mosaic Fertilizantes segment announced its initial bankruptcy proceedings. This customer had an outstanding balance with Mosaic of approximately $30 million as of September 30, 2024. The majority of this balance is expected to be recovered through credit insurance.

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