RISK FACTORS

The proposed transactions and the future performance of Mosaic common stock involve a number of risks, some of which could be substantial and many of which are inherent in IMC’s business and/or the Cargill Fertilizer Businesses on a stand-alone basis. By voting in favor of adoption of the merger and contribution agreement, you will be choosing to become a Mosaic common stockholder. Before you vote for adoption of the merger and contribution agreement, please carefully consider the risks described below. The risks and uncertainties described below are believed by IMC and Cargill to be all of the material risks facing the transactions and Mosaic.