Modeling with New Disclosures Linking Price & Drivers to Financial Results
Sensitivities using 2020 Cost Structure
Based on 2020 Actuals
Adjusted EBITDA (1)
Sensitivity
Average MOP Price / tonne (fob mine)
Average DAP Price / tonne (fob plant)
Average BRL/USD
Average CAD/USD
■
I
$1.56 bn
●
Full year adj. EBITDA impact
$10/mt price change = $65 million (2)
$10/ mt price change = $105 million
$0.10 change, unhedged = $13 million
$0.01 change, unhedged = $13 million
Based on 2020 conversion costs
The EBITDA sensitivity to average MOP and DAP price/tonne includes Mosaic Fertilizantes
-5% of the average MOP price per tonne impact to EBITDA relates to Mosaic Fertilizantes
~20% of the average DAP price per tonne impact to EBITDA relates to Mosaic Fertilizantes
~80% of Potash cash costs were fixed, excluding brine and CRT
~87% of Phosphates cash conversion costs were fixed
(1) See Non-GAAP Financial Measures for additional information
(2) Includes impact of CRT, which is expected to average 20-24% of Gross Margin excluding CRT in 2021, and 35% on a marginal basis
2020
Actuals
$181
$310
5.15
1.35
Mosaic
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