Exhibit 99.2

The Mosaic Company

Selected Calendar Quarter Financial Information

(Unaudited)

			Q2 2024			Q3 2024			Q4 2024			Q1 2025			Q2 2025			Q3 2025			Q4 2025			Q1 2026
Consolidated data (in millions, except per share)
Diluted net earnings (loss) per share			$	(0.50)		$	0.38		$	0.53		$	0.75		$	1.29		$	1.29		$	(1.64)		$	(0.81)
Notable items impact on earnings per share(a)			(1.04)			0.04			0.08			0.26			0.78			0.25			(1.86)			(0.86)
Adjusted diluted net earnings per share(a)			$	0.54		$	0.34		$	0.45		$	0.49		$	0.51		$	1.04		$	0.22		$	0.05
Diluted weighted average # of shares outstanding			321.2			319.4			318.5			318.2			319.0			319.4			317.4			317.5
Total Net Sales			$	2,817		$	2,811		$	2,816		$	2,621		$	3,005		$	3,452		$	2,974		$	2,998
Cost of goods sold			2,423			2,395			2,514			2,133			2,487			2,900			2,631			2,762
Gross Margin			$	394		$	416		$	302		$	488		$	518		$	552		$	343		$	236
SG&A			128			149			113			123			167			126			119			136
Other operating (income) expense			33			153			89			27			107			87			324			472
Operating earnings			$	233		$	115		$	100		$	338		$	244		$	339		$	(100)		$	(372)
Interest expense, net			(46)			(42)			(47)			(41)			(53)			(46)			(48)			(55)
Consolidated foreign currency gain/(loss)			(268)			101			(419)			133			169			(1)			(30)			38
Earnings from consolidated companies before income taxes			(74)			174			191			313			564			599			(263)			(286)
Provision for (benefit from) income taxes			99			48			34			63			146			175			256			(31)
Earnings (loss) from consolidated companies			$	(173)		$	126		$	157		$	250		$	418		$	424		$	(519)		$	(255)
Equity in net earnings (loss) of nonconsolidated companies			22			5			9			—			2			—			—			—
Less: Net earnings (loss) attributable to noncontrolling interests			11			9			(3)			12			9			13			—			3
Net earnings (loss) attributable to Mosaic			$	(162)		$	122		$	169		$	238		$	411		$	411		$	(519)		$	(258)
After tax Notable items included in earnings			$	(334)		$	15		$	25		$	82		$	249		$	100		$	(590)		$	(273)
Gross Margin Rate			14		%	15		%	11		%	19		%	17		%	16		%	12		%	8		%
Effective Tax Rate (including discrete tax)			(133)		%	28		%	18		%	20		%	26		%	29		%	(97)		%	11		%
Discrete Tax benefit (expense)			$	(120)		$	4		$	(11)		$	26		$	(1)		$	(2)		$	(212)		$	(27)
Depreciation, Depletion and Amortization			$	264		$	238		$	283		$	243		$	262		$	277		$	268		$	317
Accretion Expense			$	28		$	26		$	31		$	32		$	33		$	33		$	32		$	35
Share-Based Compensation Expense			$	12		$	5		$	7		$	10		$	7		$	7		$	6		$	10
Notable Items			$	319		$	(28)		$	32		$	(83)		$	(347)		$	(143)		$	414		$	288
Adjusted EBITDA(b)			$	584		$	448		$	594		$	544		$	566		$	806		$	505		$	416
Net cash provided by (used in) operating activities			$	847		$	313		$	219		$	43		$	610		$	229		$	(56)		$	104
Cash paid for interest (net of amount capitalized)			77			20			72			12			82			20			78			17
Cash paid for income taxes (net of refunds)			74			111			53			76			75			89			81			64
Net cash used in investing activities			$	(349)		$	(248)		$	(277)		$	(341)		$	(319)		$	(363)		$	(287)		$	(369)
Capital expenditures			(334)			(241)			(294)			(341)			(305)			(364)			(350)			(357)
Net cash (used in) provided by financing activities			$	(489)		$	(138)		$	37		$	272		$	(285)		$	4		$	461		$	263
Cash dividends paid			(68)			(67)			(67)			(71)			(70)			(70)			(70)			(71)
Effect of exchange rate changes on cash			$	(6)		$	55		$	(7)		$	—		$	18		$	6		$	3		$	2
Net change in cash and cash equivalents			$	3		$	(18)		$	(27)		$	(26)		$	24		$	(125)		$	121		$	—
Short-term debt			$	882		$	752		$	847		$	1,234		$	1,041		$	1,154		$	760		$	1,202
Long-term debt (including current portion)			3,319			3,313			3,378			3,363			3,370			3,415			4,294			4,321
Cash & cash equivalents			322			302			273			259			286			153			277			282
Net debt			$	3,879		$	3,763		$	3,952		$	4,338		$	4,125		$	4,416		$	4,777		$	5,241
Segment Contributions (in millions)
Phosphate			$	1,180		$	1,005		$	1,165		$	1,099		$	1,173		$	1,290		$	1,015		$	1,426
Potash			663			526			557			570			710			695			686			667
Mosaic Fertilizantes			1,049			1,399			1,088			934			1,175			1,592			1,146			937
Corporate and Other(c)			(75)			(119)			6			18			(53)			(125)			127			(32)
Total net sales			$	2,817		$	2,811		$	2,816		$	2,621		$	3,005		$	3,452		$	2,974		$	2,998
Phosphate			$	133		$	8		$	44		$	139		$	(8)		$	102		$	(98)		$	(48)
Potash			174			109			123			157			194			229			58			177
Mosaic Fertilizantes			61			56			79			98			109			96			(26)			(422)
Corporate and Other(c)			(135)			(58)			(146)			(56)			(51)			(88)			(34)			(79)
Consolidated operating earnings			$	233		$	115		$	100		$	338		$	244		$	339		$	(100)		$	(372)

---

Phosphate(d)			1,696			1,475			1,622			1,498			1,546			1,571			1,330			1,936
Potash(d)			2,346			1,996			2,239			2,113			2,343			2,279			2,233			2,159
Mosaic Fertilizantes			2,196			2,879			2,240			1,847			2,232			2,803			2,075			1,618
Corporate and Other			316			297			432			361			301			232			540			379
Total finished product tonnes sold ('000 tonnes)			6,554			6,647			6,533			5,819			6,422			6,885			6,178			6,092
Sales of Performance Products ('000 tonnes)(e)			839			1,001			1,135			681			900			996			520			501

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The Mosaic Company - Phosphate Segment

Selected Calendar Quarter Financial Information

(Unaudited)

			Q2 2024			Q3 2024			Q4 2024			Q1 2025			Q2 2025			Q3 2025			Q4 2025			Q1 2026
Net Sales and Gross Margin (in millions, except per tonne)
Segment income statement
Net Sales - Finished Goods												$	946		$	1,028		$	1,118		$	872		$	1,264
Net Sales - Other revenue												153			145			172			143			162
Net Sales			$	1,180		$	1,005		$	1,165		$	1,099		$	1,173		$	1,290		$	1,015		$	1,426
Cost of Goods Sold			1,026			863			1,027			932			1,070			1,146			992			1,423
Gross Margin			$	154		$	142		$	138		$	167		$	103		$	144		$	23		$	3
Notable Items Included in Gross Margin			(15)			—			(53)			—			—			(14)			—			—
Adjusted Gross Margin(b)			$	169		$	142		$	191		$	167		$	103		$	158		$	23		$	3
SG&A			10			12			10			12			13			10			11			13
Other operating (income) expense			11			123			84			16			98			32			110			38
Operating Earnings			$	133		$	8		$	44		$	139		$	(8)		$	102		$	(98)		$	(48)
Plus: Depreciation, Depletion and Amortization			128			118			143			113			129			129			130			151
Plus: Accretion Expense			20			20			25			25			26			26			25			26
Plus: Foreign Exchange Gain (Loss)			2			(5)			(4)			(3)			(7)			10			(3)			(1)
Plus: Other Income (Expense)			(2)			1			517			—			(8)			(4)			5			(9)
Plus: Dividends from equity investments			—			—			—			—			—			—			—			—
Less: Earnings (loss) from Consolidated Noncontrolling Interests			11			8			(4)			8			10			11			—			4
Plus: Notables Items			38			131			(388)			10			95			28			85			—
Adjusted EBITDA(b)			$	308		$	265		$	341		$	276		$	217		$	280		$	144		$	115
Capital expenditures			$	177		$	127		$	160		$	236		$	185		$	221		$	207		$	222
Gross Margin $ / tonne of finished product			$	91		$	96		$	85		$	111		$	67		$	92		$	17		$	2
Adjusted Gross Margin $ / tonne of finished product			$	100		$	96		$	118		$	111		$	67		$	101		$	17		$	2
Gross margin as a percent of sales			13		%	14		%	12		%	15		%	9		%	11		%	2		%	—		%
Freight included in finished goods COGS			$	104		$	79		$	83		$	84		$	93		$	97		$	85		$	115
Idle/Turnaround costs (excluding notable items)			$	36		$	7		$	24		$	44		$	84		$	42		$	67		$	50
Operating Data
Sales volumes ('000 tonnes)(d)
DAP/MAP			828			656			749			846			711			760			618			1,116
Performance & other products(f)			794			750			814			587			773			750			640			720
Other products(i)			74			69			59			65			62			61			72			100
Total Finished Product(d)			1,696			1,475			1,622			1,498			1,546			1,571			1,330			1,936
DAP selling price (fob plant)(q)			$	575		$	569		$	593		$	623		$	668		$	714		$	686		$	668
Average finished product selling price(g)			$	578		$	579		$	606		$	632		$	665		$	712		$	656		$	653
Production Volumes ('000 tonnes)
Total tonnes produced(h)			1,675			1,625			1,413			1,423			1,505			1,678			1,666			1,641
Operating Rate			68		%	66		%	58		%	58		%	61		%	68		%	67		%	66		%
Raw Materials
Ammonia used in production (tonnes)			$	243		$	238		$	228		$	214		$	226		$	255		$	251		$	263
Sulfur used in production			$	778		$	739		$	694		$	661		$	732		$	772		$	799		$	762
Realized costs ($/tonne)
Ammonia (tonne)(j)			$	424		$	482		$	435		$	416		$	445		$	455		$	550		$	626
Sulfur (long ton)(k)			$	138		$	126		$	127		$	157		$	209		$	272		$	306		$	379
Blended rock			$	86		$	87		$	87		$	77		$	74		$	80		$	84		$	86
Phosphate cash conversion costs, production / tonne(r)			$	100		$	101		$	118		$	134		$	126		$	131		$	112		$	124
Cash costs of U.S. mined rock/production tonne(s)			$	54		$	56		$	52		$	54		$	51		$	62		$	58		$	63
ARO cash spending (in millions)			$	59		$	54		$	72		$	70		$	79		$	60		$	66		$	51

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The Mosaic Company - Potash Segment

Selected Calendar Quarter Financial Information

(Unaudited)

			Q2 2024			Q3 2024			Q4 2024			Q1 2025			Q2 2025			Q3 2025			Q4 2025			Q1 2026
Net Sales and Gross Margin (in millions, except per tonne)
Segment income statement
Net Sales - Finished Goods												$	495		$	641		$	633		$	614		$	598
Net Sales - Other revenue												75			69			62			72			69
Net Sales			$	663		$	526		$	557		$	570		$	710		$	695		$	686		$	667
Cost of Goods Sold			477			404			434			402			501			459			430			476
Gross Margin			$	186		$	122		$	123		$	168		$	209		$	236		$	256		$	191
Notable Items Included in Gross Margin			—			—			—			—			—			—			—			—
Adjusted Gross Margin(b)			$	186		$	122		$	123		$	168		$	209		$	236		$	256		$	191
SG&A			7			7			8			8			8			6			8			9
Other operating (income) expense			5			6			(8)			3			7			1			190			5
Operating Earnings			$	174		$	109		$	123		$	157		$	194		$	229		$	58		$	177
Plus: Depreciation, Depletion and Amortization			94			69			93			81			79			93			83			90
Plus: Accretion Expense			3			2			2			3			3			3			3			4
Plus: Foreign Exchange Gain (Loss)			(12)			48			(185)			13			82			(56)			46			(56)
Plus: Other Income (Expense)			—			—			1			(1)			1			3			1			3
Plus: Notable Items			12			(48)			178			(13)			(81)			57			145			57
Adjusted EBITDA(b)			$	271		$	180		$	212		$	240		$	278		$	329		$	336		$	275
Capital expenditures			$	75		$	61		$	65		$	45		$	73		$	72		$	53		$	49
Gross Margin $ / tonne of finished product			$	79		$	61		$	55		$	80		$	89		$	104		$	115		$	88
Adjusted Gross Margin $ / tonne of finished product			$	79		$	61		$	55		$	80		$	89		$	104		$	115		$	88
Gross margin as a percent of sales			28		%	23		%	22		%	29		%	29		%	34		%	37		%	29		%
Supplemental Cost Information
Canadian resource taxes			$	67		$	45		$	56		$	47		$	62		$	87		$	77		$	67
Royalties			$	10		$	9		$	10		$	9		$	10		$	12		$	11		$	12
Freight expense(l)			$	94		$	87		$	60		$	74		$	74		$	66		$	73		$	76
Idle/Turnaround costs (excluding notable items)			$	18		$	23		$	6		$	1		$	34		$	16		$	8		$	5
Operating Data
Sales volumes ('000 tonnes)(d)
MOP			2,113			1,775			2,064			1,947			2,122			2,110			2,083			1,971
Performance & other products(m)			225			211			168			159			214			162			143			181
Other products(i)			8			10			7			7			7			7			7			7
Total Finished Product(d)			2,346			1,996			2,239			2,113			2,343			2,279			2,233			2,159
Crop Nutrients North America			970			647			779			863			752			649			679			712
Crop Nutrients International			1,260			1,255			1,341			1,126			1,439			1,497			1,412			1,280
Non-Agricultural			116			94			119			124			152			133			142			167
Total Finished Product(d)			2,346			1,996			2,239			2,113			2,343			2,279			2,233			2,159
MOP selling price (fob mine)(o)			$	224		$	215		$	199		$	223		$	261		$	271		$	264		$	265
Average finished product selling price(g)			$	240		$	233		$	214		$	234		$	274		$	278		$	275		$	277
Production Volumes ('000 tonnes)
Production Volume			2,224			1,904			2,332			2,256			2,094			2,258			2,189			2,209
Operating Rate			78		%	66		%	81		%	78		%	73		%	79		%	76		%	77		%
MOP cash costs of production including brine / production tonne(n)			$	64		$	74		$	73		$	78		$	75		$	71		$	77		$	84
ARO cash spending (in millions)			$	2		$	2		$	3		$	1		$	3		$	2		$	4		$	1
Average CAD / USD			$	1.368		$	1.364		$	1.399		$	1.434		$	1.384		$	1.377		$	1.394		$	1.372

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The Mosaic Company - Mosaic Fertilizantes Segment

Selected Calendar Quarter Financial Information

(Unaudited)

			Q2 2024			Q3 2024			Q4 2024			Q1 2025			Q2 2025			Q3 2025			Q4 2025			Q1 2026
Net Sales and Gross Margin (in millions, except per tonne)
Segment income statement
Net Sales - Finished Goods												$	834		$	1,059		$	1,452		$	1,024		$	852
Net Sales - Other revenue												100			116			140			122			85
Net Sales			$	1,049		$	1,399		$	1,088		$	934		$	1,175		$	1,592		$	1,146		$	937
Cost of Goods Sold			947			1,271			986			807			1,013			1,410			1,125			902
Gross Margin			$	102		$	128		$	102		$	127		$	162		$	182		$	21		$	35
Notable Items Included in Gross Margin			4			6			9			—			—			(7)			—			(26)
Adjusted Gross Margin(b)			$	98		$	122		$	93		$	127		$	162		$	189		$	21		$	61
SG&A			27			62			16			23			61			32			32			36
Other operating (income) expense			14			10			7			6			(8)			54			15			421
Operating Earnings			$	61		$	56		$	79		$	98		$	109		$	96		$	(26)		$	(422)
Plus: Depreciation, Depletion and Amortization			40			39			40			38			44			46			46			66
Plus: Accretion Expense			5			4			4			4			4			4			4			5
Plus: Foreign Exchange Gain (Loss)			(144)			17			(84)			41			(17)			(19)			(57)			30
Plus: Other Income (Expense)			(2)			(2)			(2)			(1)			(1)			(1)			(2)			(2)
Less: Earnings from Consolidated Noncontrolling Interests			(1)			—			1			1			(1)			1			1			—
Plus: Notable Items			135			(31)			46			(57)			19			116			81			402
Adjusted EBITDA(b)			$	96		$	83		$	82		$	122		$	159		$	241		$	45		$	79
Capital expenditures			$	46		$	51		$	64		$	59		$	46		$	70		$	85		$	86
Gross Margin $ / tonne of finished product			$	46		$	44		$	46		$	69		$	73		$	65		$	10		$	22
Adjusted Gross Margin $ / tonne of finished product			$	45		$	42		$	42		$	69		$	73		$	67		$	10		$	38
Gross margin as a percent of sales			10		%	9		%	9		%	14		%	14		%	11		%	2		%	4		%
Idle/Turnaround costs (excluding notable items)			$	24		$	40		$	18		$	13		$	26		$	27		$	62		$	24
Operating Data
Sales volumes ('000 tonnes)
Fertilizer produced in Brazil sold to third parties			473			629			461			331			387			363			289			282
Fertilizer produced in Brazil sold through distribution			489			409			207			358			666			685			290			300
Purchased nutrients for distribution(p)			1,234			1,841			1,572			1,158			1,179			1,755			1,496			1,036
Total Finished Product			2,196			2,879			2,240			1,847			2,232			2,803			2,075			1,618
Sales of Performance Products ('000 tonnes)(e)			215			462			307			93			252			441			253			134
Brazil MAP price (Brazil production delivered price to third party)			$	596		$	601		$	632		$	681		$	729		$	738		$	717		$	728
Average finished product selling price(g)			$	423		$	447		$	433		$	452		$	474		$	518		$	493		$	527
Production Volumes ('000 tonnes)
Phosphate tonnes produced			752			779			781			778			843			834			683			656
MOP tonnes produced			79			105			108			97			122			104			27			—
Phosphate operating rate			75		%	78		%	78		%	78		%	84		%	84		%	68		%	66		%
Potash operating rate			63		%	85		%	88		%	78		%	98		%	83		%	22		%	—		%
Realized Costs ($/tonne)
Ammonia/tonne			$	623		$	572		$	628		$	684		$	601		$	576		$	638		$	722
Sulfur (long ton)			$	174		$	170		$	177		$	219		$	270		$	325		$	371		$	466
Blended rock			$	107		$	105		$	109		$	97		$	94		$	99		$	98		$	104

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Purchases ('000 tonnes)
DAP/MAP from Mosaic			30			43			54			62			21			45			5			38
MicroEssentials® from Mosaic			289			337			195			120			282			270			211			310
Potash from Mosaic/Canpotex			736			682			419			355			507			919			238			542
Phosphate cash conversion costs in USD, production / tonne(r)			$	100		$	88		$	85		$	87		$	84		$	99		$	113		$	113
Potash cash conversion costs in USD, production / tonne			$	208		$	175		$	151		$	187		$	178		$	240		$	286		$	—
Mined rock costs in USD, cash produced / tonne			$	98		$	105		$	93		$	87		$	90		$	91		$	88		$	116
ARO cash spending (in millions)			$	5		$	6		$	5		$	1		$	1		$	1		$	1		$	1
Average BRL / USD			$	5.216		$	5.546		$	5.842		$	5.853		$	5.669		$	5.445		$	5.396		$	5.264

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The Mosaic Company - Corporate and Other Segment

Selected Calendar Quarter Financial Information

(Unaudited)

			Q2 2024			Q3 2024			Q4 2024			Q1 2025			Q2 2025			Q3 2025			Q4 2025			Q1 2026
Net Sales and Gross Margin (in millions)
Segment income statement
Net Sales			$	(75)		$	(119)		$	6		$	18		$	(53)		$	(125)		$	127		$	(32)
Cost of Goods Sold			(27)			(143)			67			(8)			(97)			(115)			84			(39)
Gross Margin (Loss)			$	(48)		$	24		$	(61)		$	26		$	44		$	(10)		$	43		$	7
Notable items Included in Gross Margin			(28)			38			(80)			59			51			(27)			2			(2)
Adjusted Gross Margin (Loss)(b)			$	(20)		$	(14)		$	19		$	(33)		$	(7)		$	17		$	41		$	9
SG&A			84			68			79			80			85			78			68			78
Other operating (income) expense			3			14			6			2			10			—			9			8
Operating Earnings (Loss)			$	(135)		$	(58)		$	(146)		$	(56)		$	(51)		$	(88)		$	(34)		$	(79)
Plus: Depreciation, Depletion and Amortization			2			12			7			11			10			9			9			10
Plus: Share-Based Compensation Expense			11			5			7			10			7			7			6			10
Plus: Foreign Exchange Gain (Loss)			(114)			40			(145)			82			111			64			(15)			64
Plus: Other Income (Expense)			11			—			39			(116)			213			308			(89)			113
Plus: Earnings (Loss) from equity investments			—			—			—			—			2			—			—			—
Less: Earnings (Loss) from Consolidated Noncontrolling Interests			—			(1)			(1)			2			—			—			—			—
Plus: Notable Items			134			(80)			196			(23)			(380)			(344)			103			(171)
Adjusted EBITDA(b)			$	(91)		$	(80)		$	(41)		$	(94)		$	(88)		$	(44)		$	(20)		$	(53)
Elimination of profit in inventory included in COGS			$	(10)		$	(3)		$	7		$	(49)		$	—		$	15		$	21		$	5
Unrealized gain (loss) on derivatives included in COGS			$	(29)		$	39		$	(80)		$	59		$	51		$	27		$	2		$	(4)

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The Mosaic Company

Selected Calendar Quarter Financial Information

(Unaudited)

Notable Items

Q1 2026
Description			Segment			Line Item						Amount (in millions)						Tax Effect(t) (in millions)						EPS Impact (per basic share)
Foreign currency transaction gain (loss)			Consolidated			Foreign currency transaction gain (loss)						$	24					$	(2)					$	0.06
Unrealized gain (loss) on derivatives			Corporate and Other			Cost of goods sold						(2)						—						—
Closed and indefinitely idled facility costs			Phosphate			Other operating income (expense)						(15)						1						(0.04)
Ma'aden mark-to-market			Corporate and Other			Other non-operating income (expense)						112						(8)						0.33
Realized gain (loss) on RCRA Trust Securities			Phosphate			Other non-operating income (expense)						(2)						—						(0.01)
Environmental reserves			Phosphate			Other operating income (expense)/Noncontrolling Interest						(21)						1						(0.06)
Gain on sale of land			Phosphate			Other operating income (expense)						31						(2)						0.09
Loss on assets held for sale and other assets			Brazil			Loss on assets to be sold/Other operating income (expense)						(302)						59						(0.76)
Restructuring and cost reduction actions			Consolidated			Other operating income (expense)/SG&A						(98)						7						(0.29)
Accelerated depreciation			Brazil			Cost of goods sold						(26)						2						(0.08)
Closed and indefinitely idled facility costs			Brazil			Other operating income (expense)						(24)						2						(0.07)
Discrete Tax			Corporate			(Provision for) benefit from income taxes						—						(10)						(0.03)
Total Notable Items												$	(323)					$	50					$	(0.86)

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Q4 2025
Description			Segment			Line Item						Amount (in millions)						Tax Effect(t) (in millions)						EPS Impact (per basic share)
Foreign currency transaction gain (loss)			Consolidated			Foreign currency transaction gain (loss)						$	(44)					$	6					$	(0.12)
Unrealized gain (loss) on derivatives			Corporate and Other			Cost of goods sold						2						(2)						—
Closed and indefinitely idled facility costs			Phosphate			Other operating income (expense)						(14)						7						(0.02)
Ma'aden mark-to-market			Corporate and Other			Other non-operating income (expense)						(90)						7						(0.25)
ARO Adjustment			Phosphate/Potash			Other operating income (expense)						(64)						20						(0.14)
Environmental Reserve			Phosphate			Other operating income (expense)						(21)						8						(0.04)
Realized gain (loss) on RCRA Trust Securities			Phosphate			Other non-operating income (expense)						8						(2)						0.01
Net Gain on assets held for sale and transaction fees			Brazil/Corp			Other operating income (expense)/SG&A						100						(40)						0.18
Impairment of goodwill and asset write-offs			Brazil			Impairment of goodwill						(110)						20						(0.28)
Loss on assets held for sale			Potash			Loss (gain) on assets sold and to be sold						(189)						69						(0.38)
Brazil Valuation Adjustment			Brazil			(Provision for) benefit from income taxes						—						(261)						(0.82)
Total Notable Items												$	(422)					$	(168)					$	(1.86)
Q3 2025
Description			Segment			Line Item						Amount (in millions)						Tax Effect(t) (in millions)						EPS Impact (per basic share)
Foreign currency transaction gain (loss)			Consolidated			Foreign currency transaction gain (loss)						$	(14)					$	3					$	(0.04)
Unrealized gain (loss) on derivatives			Corporate and Other			Cost of goods sold						(27)						7						(0.06)
Closed and indefinitely idled facility costs			Phosphate			Other operating income (expense)						(14)						3						(0.03)
Ma'aden mark-to-market			Corporate and Other			Other non-operating income (expense)						308						(80)						0.71
Environmental Reserve			Phosphate			Other operating income (expense)						(18)						5						(0.04)
Loss on assets held for sale and transaction fees			Mosaic Fertilizantes/Corporate			Other operating income (expense)/SG&A						(75)						—						(0.23)
Asset write-off			Mosaic Fertilizantes			Cost of goods sold/Other operating income (expense)						(11)						3						(0.03)
Land reclamation			Phosphate			Cost of goods sold						(14)						4						(0.03)
Total Notable Items												$	135					$	(55)					$	0.25

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Q2 2025
Description			Segment			Line Item						Amount (in millions)						Tax Effect(t) (in millions)						EPS Impact (per basic share)
Foreign currency transaction gain (loss)			Consolidated			Foreign currency transaction gain (loss)						$	169					$	(45)					$	0.39
Unrealized gain (loss) on derivatives			Corporate and Other			Cost of goods sold						51						(14)						0.11
Closed and indefinitely idled facility costs			Phosphate			Other operating income (expense)						$	(14)					$	4					$	(0.03)
Ma'aden mark-to-market			Corporate and Other			Other non-operating income (expense)						216						(58)						0.50
ARO Adjustment			Phosphate			Other operating income (expense)						(44)						12						(0.10)
Environmental Reserve			Phosphate			Other operating income (expense)						(32)						9						(0.07)
Realized gain (loss) on RCRA Trust Securities			Phosphate			Other non-operating income (expense)						(7)						2						(0.02)
Total Notable Items												$	339					$	(90)					$	0.78

Q1 2025
Description			Segment			Line Item						Amount (in millions)						Tax Effect(t) (in millions)						EPS Impact (per basic share)
Foreign currency transaction gain (loss)			Consolidated			Foreign currency transaction gain (loss)						$	148					$	(43)					$	0.33
Unrealized gain (loss) on derivatives			Corporate and Other			Cost of goods sold						59						(17)						0.13
Closed and indefinitely idled facility costs			Phosphate			Other operating income (expense)						(14)						3						(0.03)
Ma'aden mark-to-market			Corporate and Other			Other non-operating income (expense)						(117)						34						(0.26)
ARO Adjustment			Phosphate			Other operating income (expense)						(2)						1						—
Discrete tax items			Consolidated			(Provision for) benefit from income taxes						—						30						0.09
Total Notable Items												$	74					$	8					$	0.26

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Q4 2024
Description			Segment			Line Item						Amount (in millions)						Tax Effect(t) (in millions)						EPS Impact (per basic share)
Foreign currency transaction gain (loss)			Consolidated			Foreign currency transaction gain (loss)						$	(390)					$	75					$	(0.99)
Unrealized gain (loss) on derivatives			Corporate and Other			Cost of goods sold						(80)						15						(0.20)
Closed and indefinitely idled facility costs			Phosphate			Other operating income (expense)						(13)						2						(0.04)
FX functional currency			Mosaic Fertilizantes			Cost of goods sold						9						(2)						0.02
Realized gain (loss) on RCRA Trust Securities			Phosphate			Other non-operating income (expense)						(5)						1						(0.01)
ARO Adjustment			Phosphate			Other operating income (expense)						(23)						4						(0.06)
Hurricane Milton idle costs			Phosphate			Cost of goods sold						(52)						10						(0.13)
Gain on sale of equity investment			Phosphate			Other non-operating income (expense)						522						(43)						1.51
Ma'aden mark-to-market			Corporate and Other			Other non-operating income (expense)						28						(5)						0.07
ARO Adjustment			Potash			Other operating income (expense)						7						(1)						0.02
Arbitration reserve			Phosphate			Other Operating Expense/Non Controlling Interest						(43)						9						(0.11)
Total Notable Items												$	(40)					$	65					$	0.08

Q3 2024
Description			Segment			Line Item						Amount (in millions)						Tax Effect(t) (in millions)						EPS Impact (per basic share)
Foreign currency transaction gain (loss)			Consolidated			Foreign currency transaction gain (loss)						$	111					$	(35)					$	0.22
Unrealized gain (loss) on derivatives			Corporate and Other			Cost of goods sold						38						(11)						0.09
Closed and indefinitely idled facility costs			Phosphate			Other operating income (expense)						(15)						5						(0.03)
FX functional currency			Mosaic Fertilizantes			Cost of goods sold						6						(2)						0.01
Realized gain (loss) on RCRA Trust Securities			Phosphate			Other non-operating income (expense)						5						(2)						0.01
ARO Adjustment			Phosphate			Other operating income (expense)						(102)						31						(0.22)
Environmental reserve			Phosphate			Other operating income (expense)						(20)						6						(0.04)
Total Notable Items												$	23					$	(8)					$	0.04

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Q2 2024
Description			Segment			Line Item						Amount (in millions)						Tax Effect(t) (in millions)						EPS Impact (per basic share)
Foreign currency transaction gain (loss)			Consolidated			Foreign currency transaction gain (loss)						$	(263)					$	76					$	(0.58)
Unrealized gain (loss) on derivatives			Corporate and Other			Cost of goods sold						(28)						9						(0.07)
Closed and indefinitely idled facility costs			Phosphate			Other operating income (expense)						(13)						3						(0.03)
FX functional currency			Mosaic Fertilizantes			Cost of goods sold						4						(1)						—
Realized gain (loss) on RCRA Trust Securities			Phosphate			Other non-operating income (expense)						(2)						—						—
Land reclamation			Phosphate			Cost of goods sold						(15)						4						(0.03)
Pension plan termination			Corporate and Other			Other non-operating income (expense)						8						(2)						0.02
Franchise tax reversal			Phosphate			Other operating income (expense)						(15)						4						(0.03)
Discrete tax items			Consolidated			(Provision for) benefit from income taxes						—						(103)						(0.32)
Total Notable Items												$	(324)					$	(10)					$	(1.04)

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Footnotes

 

(a)Notable items impact on Earnings Per Share is calculated as notable item amount plus income tax effect, based on expected annual effective tax rate, divided by diluted weighted average shares. Adjusted Diluted Net Earnings per Share is defined as diluted net earnings (loss) per share excluding the impact of notable items. See "Non-GAAP Reconciliations".

(b)See definitions of Adjusted EBITDA and Adjusted Gross Margin under “Non-GAAP Reconciliations”.

(c)Includes elimination of intersegment sales.

(d)Finished product sales volumes include intersegment sales.

(e)Includes MicroEssentials, K-Mag, Aspire and Sus-Terra sales tonnes.

(f)Includes MicroEssentials performance products.

(g)Average price of all finished products sold by Potash, Phosphates, Mosaic Fertilizantes and India/China. Amounts prior to January 1, 2025 have been recast to exclude revenue from other non-finished goods.

(h)Includes crop nutrient dry concentrates and animal feed ingredients.

(i)Includes finished goods sales of feed and other products.

(j)Amounts are representative of our average ammonia costs in cost of goods sold.

(k)Amounts are representative of our average sulfur costs in cost of goods sold.

(l)Includes inbound freight, outbound freight and warehousing costs on K-Mag, animal feed and domestic MOP sales.

(m)Includes K-Mag, and Aspire finished performance products.

(n)MOP cash costs of production are reflective of actual costs during the period excluding brine management costs, depreciation, depletion, accretion, carbon-based and Canadian resource tax, idle and turnaround costs. Total Production costs for MOP production excludes K-Mag costs, Aspire raw material costs and incremental Aspire operating costs.

(o)Excludes industrial and feed sales. Price has been calculated using the average monthly foreign exchange rate.

(p)Includes sales volumes of phosphate and potash nutrients purchased from other Mosaic segments and Canpotex.

(q)Includes intersegment sales.

(r)Total production costs less depreciation, ARO costs including accretion and idle and turnaround costs divided by metric tonnes of finished phosphate production in the period. 

(s)Total production cost less depreciation/depletion, ARO costs including accretion and idle and turnaround costs divided by metric tonnes of rock produced in the period.

(t)Tax impact is based on our expected annual effective rate.

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The Mosaic Company

Selected Calendar Quarter Financial Information

(Unaudited)

Non-GAAP Financial Measures

In addition to financial measures prepared in accordance with U.S. generally accepted accounting principles (“GAAP”), Mosaic has presented in this Selected Calendar Quarter Financial Information certain non-GAAP financial measures, or measures calculated based on non-GAAP financial measures, including: Adjusted Diluted Net Earnings Per Share, Consolidated Adjusted EBITDA, Segment Adjusted EBITDA, and Adjusted Gross Margin. Generally, a non-GAAP financial measure is a supplemental numerical measure of a company's performance, financial position or cash flows that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. Each of the non-GAAP financial measures we present is determined as described below.

The non-GAAP financial measures we present should not be considered as substitutes for, or superior to, measures of financial performance prepared in accordance with GAAP. In addition, because these non-GAAP measures, as presented, are not determined in accordance with GAAP, they are thus susceptible to varying interpretations and calculations and may not be comparable to other similarly titled measures of other companies.

Adjusted Diluted Net Earnings Per Share

Adjusted diluted net earnings per share is defined as diluted net earnings per share, excluding the impact of notable items. Notable items impact on diluted net earnings per share is calculated as notable item amount plus income tax effect, based on expected annual effective tax rate, divided by diluted weighted average shares. Management believes that adjusted diluted net earnings per share provides securities analysts, investors and others, in addition to management, with useful supplemental information regarding our performance by excluding certain items that may not be indicative of or are unrelated to our core operating results. Management utilizes adjusted diluted net earnings per share in analyzing and assessing Mosaic’s overall performance, for financial and operating decision-making, and to forecast and plan for the future periods. Adjusted diluted net earnings per share also assists our management in comparing our and our competitors' operating results. Reconciliations of adjusted diluted net earnings per share to diluted net earnings per share for the periods presented are provided under “Consolidated Data” on the first page of this Selected Calendar Quarter Financial Information.

Consolidated Adjusted EBITDA

Consolidated Adjusted EBITDA is defined as consolidated Net Income (Loss) before net interest expense, depreciation, depletion and amortization, asset retirement obligation accretion, share-based compensation expense and provision for/(benefit from) income taxes less equity in net earnings (loss) of nonconsolidated companies, net of dividends. As of January 1, 2025, we are no longer adjusting for equity in net earnings (loss) of nonconsolidated companies, net of dividends as we sold our equity investment in MWSPC in 2024. Consolidated Adjusted EBITDA is also adjusted for notable items that management excludes in analyzing our performance. Consolidated Adjusted EBITDA is a non-GAAP financial measure that we provide to assist securities analysts, investors, lenders and others in their comparisons of operational performance, valuation and debt capacity across companies with differing capital, tax and legal structures. Consolidated Adjusted EBITDA should not be considered as an alternative to, or more meaningful than, consolidated Net Income (Loss) as a measure of operating performance. A reconciliation of Consolidated Net Income (Loss) to Consolidated Adjusted EBITDA is provided below.

(in millions)			Q2 2024			Q3 2024			Q4 2024			Q1 2025			Q2 2025			Q3 2025			Q4 2025			Q1 2026
Consolidated Net Income (Loss)			$	(162)		$	122		$	169		$	238		$	411		$	411		$	(519)		$	(258)
Less: Consolidated Interest Expense, Net			(46)			(42)			(47)			(41)			(53)			(46)			(48)			(55)
Plus: Consolidated Depreciation, Depletion & Amortization			264			238			283			243			262			277			268			317
Plus: Accretion Expense			28			26			31			32			33			33			32			35
Plus: Share-Based Compensation Expense (Benefit)			12			5			7			10			8			7			6			10
Plus: Consolidated Provision for (Benefit from) Income Taxes			99			48			34			63			146			175			256			(31)
Less: Equity in net earnings (loss) of nonconsolidated companies, net of dividends			22			5			9			—			—			—			—			—
Plus: Notable Items			319			(28)			32			(83)			(347)			(143)			414			288
Consolidated Adjusted EBITDA			$	584		$	448		$	594		$	544		$	566		$	806		$	505		$	416

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Segment Adjusted EBITDA

Adjusted EBITDA presented at the segment level is defined as the related segment's operating earnings (loss) plus depreciation, depletion and amortization, plus asset retirement obligation accretion, plus foreign exchange gain (loss), plus other income (expense) plus dividends from equity investments, less earnings (loss) from noncontrolling interests. As of January 1, 2025, we are no longer adjusting for equity in net earnings (loss) of nonconsolidated companies, net of dividends as we sold our equity investment in MWSPC in 2024 that represented nearly all of these historical earnings. Adjusted EBITDA is also adjusted for notable items that management excludes in analyzing our performance. We provide these non-GAAP financial measures because we believe they are relevant and useful to securities analysts, investors and others because they are part of our internal management reporting and planning process, and our management uses these measures to evaluate the operational performance and valuation of our segments. Management also uses these measures as a method of comparing segment, performance with that of its competitors. Segment Adjusted EBITDA should not be considered as alternatives to, or more meaningful than, segment Operating Earnings (Loss) and segment Operating Earnings (Loss)/sales tonne, respectively, as measures of operating performance. Management believes Operating Earnings (Loss) and segment Operating Earnings (Loss)/sales tonne, respectively, are the most directly comparable GAAP measures because we do not allocate taxes on a segment basis. Reconciliations of Segment Adjusted EBITDA to segment Operating Earnings (Loss) and segment Operating (Loss) Earnings/sales tonne, respectively, are provided as part of each segment's Selected Calendar Quarter Financial Information.

Adjusted Gross Margin

Adjusted gross margin is defined as gross margin excluding the impact of notable items. Management believes the adjusted measures provides security analysts, investors, management & others with useful supplemental information regarding our performance by excluding certain items that may not be indicative of, or are unrelated to, our core operating results. Management utilizes adjusted gross margin in analyzing and assessing Mosaic's overall performance for financial and operating decision-making and to forecast and plan for future periods.