The Mosaic Company Announces 50 Percent Increase in Annual Dividend Target

TAMPA, March 11, 2021 - The Mosaic Company (NYSE:MOS) announced today that its Board of Directors has approved an increase to the company's annual dividend target to $0.30 from $0.20 per share with the next effective declaration, which is expected to be in May 2021.

"This increased commitment to shareholder dividends reflects our successful efforts to transform our cost structures in every area of the company," said President and CEO Joc O'Rourke. "Our structurally reduced expense base, along with reduced capital spending as we approach the conclusion of our Esterhazy K3 mine project, give us confidence that we can support a higher dividend across the business cycle."

The declaration and payment of any future dividends is subject to approval by Mosaic's Board of Directors. There is no assurance that any dividends will be declared in the future.

About The Mosaic Company
The Mosaic Company is one of the world's leading producers and marketers of concentrated phosphate and potash crop nutrients. Mosaic is a single-source provider of phosphate and potash fertilizers and feed ingredients for the global agriculture industry. More information on the company is available at www.mosaicco.com.

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements or expectations regarding future dividend payments. The declarations and payment of future dividends remain at the discretion of the Board of Directors and will be determined based on several factors, including the Company's financial performance and available cash resources. Such statements are based upon the current beliefs and expectations of The Mosaic Company and are subject to significant risks and uncertainties, including those reported from time to time in The Mosaic Company's reports filed with the Securities and Exchange Commission.

Media
Ben Pratt
The Mosaic Company
813-775-4206
benjamin.pratt@mosaicco.com

Investors
Laura Gagnon
The Mosaic Company
813-775-4214
investor@mosaicco.com

SOURCE: The Mosaic Company