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Phosphate operating earnings were $1.3 billion in 2022, compared to $1.2 billion in 2021.

(1)See "Non-GAAP Financial Measures" for additional information and reconciliation.

*Free cash flow is defined as cash from operations minus total capital expenditures and adjusted for working capital financing. The decision to stop production at the Colonsay mine in the fourth quarter because of market conditions is expected to be temporary, and a restart is expected in the first half of 2023. Esterhazy's K3 mine reached its targeted initial annual run-rate of 5.5 million tonnes in the first half of 2022, and output was expanded further with the addition of an eleventh miner, which entered service in the fourth quarter. Adjusted EBITDA (1) totaled $3.1 billion in 2022, up from $1.3 billion last year. Potash operating earnings were $2.8 billion in 2022, up from $837 million in the prior year.

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Cash from operating activities totaled $3.9 billion and Free Cash Flow (1) totaled $2.6 billion. Adjusted EBITDA (1) in 2022 totaled $6.2 billion, up 73 percent from 2021. Net Income in 2022 totaled $3.6 billion, up 120 percent from 2021.The gross margin rate in 2022 was 30 percent, up from 26 percent in 2021.

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Full year revenues were up 55 percent year-over-year to $19.1 billion, as stronger pricing more than offset lower volumes.

Mosaic is well positioned to continue delivering strong results in 2023, thanks to our low cost potash operations, our portfolio of value-added phosphate products, and our leading footprint in Brazil, the world's fastest-growing major agricultural market." "Despite significant volatility through the year, our business was able to deliver strong free cash flow and return significant capital to shareholders, while also reinvesting in the business. "Mosaic delivered record results in 2022, and we expect favorable agricultural markets to continue in 2023," said Joc O'Rourke, President and CEO.

Adjusted EBITDA (1) totaled $1.05 billion for the quarter and adjusted diluted EPS (1) was $1.74. The company also reported fourth quarter net income of $523 million and diluted EPS of $1.52. Adjusted EBITDA (1) for the year was $6.2 billion and adjusted diluted EPS (1) was $11.01. TAMPA, FL, FebruThe Mosaic Company (NYSE: MOS) today reported net income of $3.6 billion and diluted earnings per share (EPS) of $10.06 for full year 2022. Accelerated share repurchase of $300 million and special dividend of $0.25 per share in the first quarter of 2023.Retired $550 million of long-term debt and returned $1.9 billion to shareholders through share repurchases and dividends in 2022.Cash from operations of $3.9 billion, free cash flow (1) of $2.6 billion.Full year net income of $3.6 billion, adjusted EBITDA (1) of $6.2 billion.Kennedy Blvd., Suite 2500 Tampa, FL 33602 For Immediate Releaseīen MOSAIC COMPANY REPORTS FOURTH QUARTER AND FULL YEAR 2022 RESULTS