Mosaic (MOS) Risk Factor Changes

primarily denominated in U.S.

We carry our inventories at net realizable value.

increase, the risks associated with cybersecurity increase.

We compete with a number of producers throughout the world, including state-owned and government-subsidized entities.

We use tailings, sediments and water dams and other impoundments to manage residual materials generated by our facilities, including Brazilian mining operations.

In March 2024, the SEC issued final rules on climate-related disclosures that would require disclosure of extensive detailed climate-related information by domestic and foreign registrants.

Our operations, including our mines, are dependent on having the required permits and approvals from governmental authorities.

Our operations depend on having the required permits and approvals from governmental authorities.

Strong demand for grain and other products and a strong world economy increases the demand for and reduces the availability of transportation assets, both domestically and internationally.

We depend on information systems to, among other things, manage our inventory, process transactions, operate our websites, purchase and ship goods on a timely basis, and maintain cost-effective operations.

See “Key Factors that can Affect Results of Operations and Financial Condition” and “Potash Net Sales and Gross Margin” sections of our Management’s Analysis in this Form 10-K.

We hold minority ownership interests in other companies that are not controlled by us.

Adverse weather conditions may also cause a loss of production and may disrupt our supply chain or adversely affect delivery of our products to our customers.

If adverse weather conditions occur, as they have in the past, our facilities may be required to take additional measures to manage process water to comply with existing or future requirements and these measures could…

Adverse weather conditions have in the past and may in the future adversely affect our operations, particularly our Phosphate operations.

Fertilizer is a key input for production of our blended finished goods products.

We conduct our operations through a limited number of key production, distribution and terminaling facilities.

The use of crop nutrients is seasonal and varies based on application rates.

In February 2025, the U.S.

In 2021, the U.S.

enjoy competitive advantages or are willing to accept lower profit levels, the price of our products, our sales volumes and our profits may be adversely affected.

Strong demand for grain and other products and a strong world economy increases the demand for and reduces the availability of transportation, both domestically and internationally.

We cannot predict the full impact of these rules or potentially related judicial actions, or future actions, or whether or how it would affect our Brazilian operations or customers.

impoundments could result in serious injuries or death, damage to property or the environment, or result in the shutdown of our facilities, any of which could materially adversely affect our results of operations.

While that decision is under appeal, a change in permitting authority may complicate and delay the receipt of 404 Act approvals.

that is not recovered through an increase in the price of our related crop nutrients products could have a material adverse impact on our business.

typically being the highest during the North American spring season and our working capital requirements typically being the highest just prior to the start of the spring season.

The full impact of another public health event depends on various factors, any of which could materially increase our costs, negatively impact our revenue and/or adversely impact our results of operations and liquidit…

Pandemics, epidemics or other health outbreaks have, and could again, adversely affect the global economy and have, and could again, significantly disrupt our operations, key suppliers or third-party logistics provide…

Pandemics, epidemics or other health outbreaks could materially adversely affect our business operations and financial condition.

imports materially injure the U.S.

Our primary foreign currency exposures are the Canadian dollar and Brazilian real.

If we are unable to maintain adequate liquidity or favorable credit ratings, we may be forced to reduce capital expenditures, delay strategic projects, or seek alternative financing under unfavorable terms.

Our credit ratings significantly affect our cost of borrowing and access to financing.

Our ability to fund operations, meet obligations, and pursue strategic initiatives depends on maintaining sufficient liquidity and access to capital markets.

Capital markets access, liquidity and credit ratings.

We utilize and rely upon information technology systems in many aspects of our business, including internal and external communications and the management of our accounting, financial, production and supply chain func…

costs.

operations.

as other commercial arrangements with third parties.