2019 BMO Farm-to-Market Conference

May 16, 2019

Forward-Looking StatementsCertain statements in this presentation, including without limitation statements about the company’s growth, innovation and product development capabilities, innovation pipeline, production capability, value and earnings, upside and share price potential; expectations regarding nutrient investment, population growth, meat consumption, market growth, GDP and grower economics; ability to drive growth, value, efficiency and consistency, generate cash and maximize assets and efficiency; capital expenditures; free cash flow; growth opportunities; pricing; production; market conditions; and its outlook for the mid-term, second quarter of 2019 and full-year 2019, including revenue, sales, EBITDA, EBITDA margin, sales volumes, corporate and other expense, interest expense, depreciation, depletion and amortization, capital expenditures and tax rates, are forward-looking statements within the meaning of the PrivateSecurities Litigation Reform Act of 1995. Forward-looking statements are those that predict or describe future events or trends and that do not relate solely to historical matters. We use words such as “may,” “would,” “could,” “should,” “will,” “likely,” “expect,” “anticipate,” “believe,” “intend,” “plan,” “forecast,” “outlook,” “project, ” “estimate” and similar expressions suggesting future outcomes or events to identify forward-looking statements or forward-looking information. These statements are based on the company's current expectations and involve risks and uncertainties that could cause the company's actual results to differ materially. The differences could be caused by a number of factors, including without limitation (i) weather conditions, (ii) pressure on prices and impact from competitive products, (iii) any inability by the company to fund necessary capital expenditures or successfully implement any capital projects, (iv) foreign exchange rates and the cost and availability of transportation for the distribution of the company’s products, (v) any inability by the company to successfully implement its cost-savings initiatives, and (vi) the effects of changes in the company’s management. Forfurther information on these and other risks and uncertainties that may affect the company’s business, see the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the company’s Annual Report on Form 10-K for the year ended December 31, 2018 and its Quarterly Report on Form 10-Q for the quarter ended March 31, 2019 filed with the SEC. The company undertakes no obligation to update any forward-looking statements made in this presentation to reflect future events or developments. Because it is not possible to predict or identify all such factors, this list cannot be considered a complete set of all potential risks or uncertainties.

22

Water treatment and industrial uses in Brazil

Highway deicing in North America and U.K.

Compass Minerals: A Diversified Global Minerals Company

3* Non-GAAP measure. See appendix for reconciliation.

Salt and Magnesium Chloride

Plant Nutrients

Chemical Solutions

Specialty and semi-specialty in North and

South America

Consumer and industrial salt uses in North America

Products and Markets

Total Sales$1.5 BILLION

TTM 1Q19 Financial Highlights

Adjusted EBITDA*$281 million

Adjusted EBITDA* Margin19%

KEEPING PEOPLE SAFE• Highway and residential deicing• Water treatment for clean water • De-dusting and road stabilization

FEEDING THE WORLD• Specialty crops like fruits, vegetables

and tree nuts• Growing portfolio of micronutrients for

cereal crops• Additional innovative nutrient solutions

for all crops

ENRICHING LIVES• Culinary/commercial food salt• Residential and commercial water

care• Other miscellaneous uses

PLANT NUTRITION

Positioned for Growth

4

Providing Efficient Solutions for Sustainable Agriculture

Specialty plant nutrients help farmers maximize the genetic potential of their crops

AMERICAS FOCUSED

Compass Minerals has the leading specialty plant nutrition portfolio and capability in the Western Hemisphere

To meet the global need for sustainably produced food

Plant Nutrition North America

Plant Nutrition South America Agriculture

Plant Nutrition South America Chemical Solutions

TTM 1Q19 Plant Nutrition Sales

$601M

5

Total Plant Nutrition TTM 1Q19 Snapshot (in millions)

Sales $ 601

EBITDA* $ 136

EBITDA* margin 23%* Non-GAAP measure. See appendix for reconciliation.

• #1 producer and marketer of sulfate of potash (SOP)

• Leading micronutrients platform• Focused innovation and product

development capabilities

6

Inorganic Salts

What is Specialty Plant Nutrition?

C H O

N P K

Ca Mg S

Bio-stimulants

N P K

Chelates

Oxides

Adjuvants

Microbes

Com

pass

Min

eral

s

Biologicals Nutritional and biological potential enhancers Stress relief and fortification Diverse molecular structures and nutritional

formulations Provided in minute dosages (g/Ha or ml/Ha)

Specialty NPK blends Building blocks of the plant system Provided in large dosages (kg/Ha or % of dry

matter)

Micronutrients Catalyzers of biological processes Provided in minute dosages (g/Ha or ppm of dry

matter)Secondary nutrients Building blocks of the plant system Provided in large dosages (kg/Ha or % of dry

matter)

Adjuvants Chemistries to optimize tank mix compatibility

and active ingredient effectiveness

Macro fertilizers Building blocks of the plant system (commodities)

Provided in large dosages (Tons/Ha or % of dry matter)

Base of the NPK fertilizer industry

Naturally available elements Structural elements

Provided by nature and generally not subject to shortages

6

7

140

53

133

51

020406080

100120140160

Yield Winner National Average

Bush

els/

Acre

US BRZ

~85 bu/ac$850/ac

The Importance of Specialty Plant Nutrition and the Yield Gap

Contributors to “The Yield Gap”

Adverse ClimateLack of RainfallSub-Optimal GeneticsPoor Plant Fertility

Poor Soil HealthWeed PressureInsect PressureDisease Pressure

Yield Gap – Average Bushels per Acre is Substantially Below Yield Winner

542

176

0

100

200

300

400

500

600

Yield Winner National AverageBu

shel

s/Ac

re ~366 bu/ac$1,281/ac

Soy*

Corn*

Advanced seed technology requires more nutrient investment• Growers are investing in NPK but

overlooking micronutrient needs

• The right specialty nutrition at the right time and rate maximizes the potential ROI for every seed

• The “Law of Minimums” states that performance is rate limited by the most limited nutrient

• Important to ensure micronutrients are not neglected

7* Sources: USDA; National Corn Growers Association; American Soybean Association; Brazilian Soybean Strategic Committee

1990

1995

2000

2005

2010

2015

2020

2025

2030

Macro Factors Support Our Specialty and Geographic Focus

Underlying macro drivers point to continued long term growth in Ag• Population growth • Decline in arable land per capita • Increased meat consumption

Arable land limitation and climate shock necessitate yield improvements to bolster production

Micronutrients are expected to outpace traditional seed and crop protection markets by 3-4% annually in the medium term

Global micronutrient market is expected to grow from $6.1B in 2017 to $9.8B in 2023

U.S. and Brazil are leading crop producers in our key target markets

Large and profitable agriculture markets with strong history of new technology adoption

Growing population and meat consumption

Sources: UN Population division; OECD-FAO 2018 Agricultural Outlook; Allied Market Research, Imarc, ResearchAndMarkets; WASDE, USDA

$57.7 $77.3$86.0

Meat consumption (10% CAGR 1990-2030)Emerging marketsDeveloped economies

Higher Growth Rate Market Segment

Leading Crop Producers in Key Markets

8

Seed Treatment

Coated Fertilizer Slow Release - NPK Blends Solubles Foliars Biologicals

COMMODITY FERTILIZER

N P K

SPECIALTY PLANT NUTRITIONSPECIALTY K

SOP, SOPM & KTS, KNO3

Plant Nutrition Market Landscape

9

ICL

Haifa ChemicalSQM

Nutrien

COMPASS MINERALS

KochStoller

Mosaic

Yara

Koch

High Volume / Low Margin

Moderate Margin Low Volume / High Margin

9

K+S

Global Market Size ~$160 BILLION

Semi-Specialty and Specialty Market Size ~$30 BILLION… growing at 6% to 8%

Sizing the Specialty Plant Nutrition Opportunity

10

9.50 %

1.40 %

187 Million

NPK* in MT

2%

10.8%

15 Million MT 8%

$15.3 Billion

$ 1.0 Billion 6.5%

$ 3.4 Billion

$ 1.1 Billion 7.2%

WATER SOLUBLES

$6.8 Billion

$0.5 Billion

MICRO-NUTRIENTS

$3.6 Billion

4.2%

21.2%

$0.1 Billion 2.2%

BIOLOGICALS

7

3

4

15

5

1

9

4

5

11

7

8

1

12

10

Global Market

Compass Minerals focused addressable market ~ $10 Billion

*Includes macro dry plant nutrients, dry NPK blends, SOP and other dry semi-specialty plant nutrients.Sources: MarketandMarkets and company estimates.

Compass Minerals current addressable market comprised of the U.S., Brazil, Canada and Mexico

Rest of World

Broad, innovative product portfolio delivering a comprehensive specialty plant

nutrition system

Well-Positioned to Deliver Growth With Clear Competitive Advantages

11

SOP in North America Specialty Nutrients in Brazil

Approximate Market Share*

1

Focused R&D platform with unique customer feedback loop enabling rapid

innovation

Scaled and attractive production assets built for growth

Unique Americas market access with leading direct-to-grower reach in Brazil

2

4

3

+ 400 companies

Compass Minerals

Compass Minerals

*Sources: Company estimates and U.S. import data.

Portfolio Value: Leadership Position in Nutritional Systems Approach

12

= Broad portfolio = Intermediate portfolio = Narrow / No portfolio

Application modality:

Dry Specialized NPK Blends

Dry Fertilizer Coating

Liquid Fertilizer Coating

Seed-Applied

NutritionalWith In Furrow

With Side Dress

With First Herbicide

With Second Herbicide

With Insecticide

With Fungicide

Compass Minerals Stoller Nutrien Yara Koch Mosaic ICL

In 555 independent trials over a three-year period, the Compass Minerals Nutritional System outperformed grower standard practice 85% of the time for soybean growers in Brazil, delivering a 6% yield advantage on average.

Sources: Company research and publicly available data.

8% 11% 9% 6% 8% 5%

R$461 R$90 R$75 R$126 R$400 R$580

4% 2% 4% 4% 5% 5%

R$1,246 R$440 R$260 R$266 R$2,047 R$1,960

1,934,539 4,000,000 11,000,000 33,897,301 932,035 725,451

8 5 3 5 10 15

2.7x 4.9x 3.5x 2.1x 5.1x 3.4x

Average ROI to Brazilian Farmer When Using Compass Minerals’ Nutritional System

Avg. productivity gain

Avg. incremental costs per hectare

% of avg. total planting cost

Avg. incremental revenue per

hectare

Avg. Return on Investment to

Farmer

• Nutritional season-long systems provide a robust productivity gain and ROI vs. average cost per acre

• Currently offer nutritional system recommendations for 15 different crops

• Broad crop focus from specialty to row crops

• Higher value crops receive more nutritional applications each season vs. standard row crops

Hectares

Avg. field passes per

season

CoffeeCorn

Summer Soybean CottonCorn

Winter Citrus

Portfolio Value: Delivers Grower Value in Row Crops and High Value Specialty Crops

13Source: Company research.

14

0%

20%

40%

60%

80%

100%

2013 2014 2015 2016 2017 2018

Products launched before 2013

Importance of New Product Launches in Direct-to-Grower Sales Channel in Brazil

Focused Innovation Pipeline with 31 projects

in 2019 14 11

Phase 1 – Discovery Phases 2-3 Phase 4 –Launch

6

• Stage-gate R&D process and prioritization methodology promotes projects that increase internal ROI

• Customer intimacy with on-the-ground sales force raises hit rate with new product introductions

• Duel-hemisphere research accelerates development and increases go-to-market opportunities

• Track record of success with four products launched in 2018 for total Plant Nutrition business and six launches planned for 2019

% o

f Pla

nt N

utrit

ion

Sout

h Am

eric

a Ag

ro

sale

s by

pro

duct

intro

duct

ion

Products launched in 2013 and later

Innovation: Pipeline Focused on Specialty Plant Nutrition

14

Innovation: Recent North America Launch of Innovative Seed Nutritional Line

• Patent-pending seed nutritional combining fluency agents with key nutrients

• Conceived, developed and launched in under one year

• Successful Farming named Rocket Seeds among its “9 Innovations from the 2019 Commodity Classic Trade show”

15

16

1623

Biologicals• Collaborations include

- Marrone Bio Innovations- Osprey Biotechniques- Ajinomoto

• Breadth of strain and stabilization technologies

• Includes key biostimulants• Compatibility and viability with

plant nutritionalsKansas State University

• Leading agriculture school• Collaborations focused on

both agronomy and product discovery

EMBRAPA Brazil• Co-development of nutritional

coating technology• Adds commercial credibility• Launched in Fall 2018

Field Testing Collaborations• Unique field data collection

platform and trial network• Generating data on core

products in more than 15 crops

Open for Collaboration

University of California Davis

• Leading agriculture school for Western specialty crops

• Collaboration focused on product development for tree nuts and vines

Formulation Additives• Development collaboration with

industry leading adjuvant and surfactant manufacturer

• Focused specifically on plant nutrition formulations

• Development of next generation crop adjuvant technologies

Innovation: Key External Partnerships Support Accelerated Growth

16

17

Attractive Assets: Built for Growth with Advantaged Logistics

Favorable production locations and logistics strategy provide reliable and low-cost transport to our customers in Brazil

Compass Minerals plant @Sao Paulo

Road Transport140km

Warehouse#1(6k mt)

Railroad Transport1.300km

Road TransportCIF/FOB Mato Grosso

Farmer/CustomerWarehouse#2

(1k mt)

• Eight world-class, integrated production sites with certifications in Brazil

• Only North America SOP producer with two unique SOP production facilities with substantial incremental production capability

• Capital investment in place to drive future growth

• First-mover advantage of utilizing rail in Brazil

World-class manufacturing facilities in Brazil

Operational and environmental license certifications ISO 9001 ISO 14001

OHSAS 18001 FAMI-QS

BPF e APPCC

17

• Advantaged logistical access to key North American markets from Utah production facility

• Strategically forward-deploy product in market to support supplier-of choice strategy

Production Facilities and Logistics Support SOP Leadership Position in North America

Go-to-Market: Approach Tailored to Accelerate Growth

Plant Nutrition South America Plant Nutrition North America

• Comprehensive commercial strategy allows access to all farmers in Brazil

• Direct reach to over 4,300 farmers in Cerrados region

• Large farms averaging 8,000 hectares• Utilize distributors in southern Brazil• Broad experience across diverse crop offerings

• Strong account management team with long-standing relationships with leading distributors

• Diverse, experienced sales force• Broad portfolio that enables systems-selling

approach• Cross-selling two Brazil brand families in NA

today• Capable of both product and equipment solutions

18

Regional sales rep and manager count by concentration

> 20

10 to 20

< 10

19

Go-to-Market: Increased Customer Loyalty and Share of Wallet with Direct-to-Grower Sales in Brazil

Brazil Direct-to-Grower Sales Metrics

-300

200

700

1,200

1,700

2,200

2,700

3,200

0

100,000

200,000

300,000

400,000

500,000

600,000

2015 2018

Num

ber o

f Cus

tom

ers

Aver

age

Acco

unt S

ize

(BR

L)

Average Revenue/Customer (BRL) Number of Customers

• Number of direct-to-grower customers up 28% between 2015 and 2018

• Sales per customer up almost 50% between 2015 and 2018

• Drivers for future growth- Increased sales reps and national

penetration- Expand beyond the mega farms to

mid-sized - Continued product development and

system sales approach covering the life cycle of the crop

60%

40%

2014

40%60%

CurrentB2B B2C

Plant Nutrition South America Agro Sales by Channel

R$586 Million R$1,127 Million 19

Unique Opportunity for Growth in Plant Nutrition Business• Advantaged and unique plant nutrition business based on specialty crop nutrients

and SOP

• Well-positioned to drive growth and value from the critical need to sustainably feed a growing population

20

R$841R$1,059 R$1,239 R$1,204

R$1,472

2014 2015 2016* 2017 2018

’14 – ’18 CAGR: ~15%

Strong History of Revenue Growth in Brazil

Compass Minerals Plant Nutrition Mid-Term Outlook

Top-Line Revenue Growth

~10%

EBITDA Margin~25%

*First year of Produquímica ownership

SALT BUSINESS

POISED TO DELIVER STRONG CASH GENERATION

21

• Unique attributes - Recession-resistant and non-cyclical- Relatively low cost to end-users- Largely regional markets with natural

barriers to entry

• Compass Minerals is well-positioned in North American and U.K. markets

Our Salt Business: Well-Positioned in Unique Commodity Industry

22

Deicing

Consumer non-deicing

Industrial

Chemical

22

Primary served highway deicing marketsAdjacent market growth potential

* Non-GAAP measure. See appendix for reconciliation.

Salt Production LocationsUnderground salt miningMechanical evaporationSolar evaporationPackaging plant

TTM 1Q19 Salt Sales

$849M

Salt Segment TTM 1Q19 Snapshot (in millions)

Sales $849

EBITDA* $191

EBITDA* margin 23%

Long-Term Fundamental Attributes

• Scale of rock salt mines enables production efficiencies

• High-quality, low-cost salt and magnesium chloride assets

Superior Assets

• Convenient access to water transportation• Deep-water port at Goderich• Extensive depot network

Logistical Advantages

• Transportation costs limit imports• Significant barriers to entry

Localized Markets

• Vertically integrated raw materials for specialty products

• Low-cost rock salt advantage in packaged deicing products

Strong Deicing Portfolio

23

$42

$74

$0

$20

$40

$60

$80

Average Selling Price ($ per ton)

A Resilient History

24

Salt Segment Sales Reflect Snow Activity

170153

204

92

175

226

150 160 169

111

189 186

143 134 127163

2,000

4,000

6,000

8,000

10,000

12,000

14,000

Sales Volume Estimated Snow Days**

Steady Price Improvement Despite Winter Variability

CAGR = 3.9%

$115.7 $122.7

$218.9

2018 Trough* Peak*

Salt Segment Operating Earnings: Significant Upside Potential

*Peak and trough adjusted operating earnings represent the averages of the three years with highest and the lowest Salt segment adjusted operating earnings from 2005 through 2018. Non-GAAP measure. See appendix for data and reconciliation.**The sum of days with one or more inches (~2.5 cm) of snow in 11 selected U.S. and Canadian cities in Compass Minerals’ service area, as reported by the NOAA National Weather Service, Environment Canada..

(tons, in thousands)

(in millions)

Strategy Focused on Asset Maximization and Efficiency • Significant capital invested to drive

efficiency and consistency - Upgrades and efficiency programs at

Goderich Mine Continuous mining and continuous haulage

system Additional miner expected to arrive in

November to further enhance consistent production

Relined two of three shafts to ensure mine longevity

• Commercial excellence driven by optimizing North American highway deicing bidding and improving product mix in consumer and industrial business

• Leverage low-cost salt advantages from key assets

25

Current Outlook and Conclusion

26

Salt: Signs of Strengthening

15.4%

10.8%

22.1%

17.1%

EBITDA** Margin

Operating Margin

1Q19 1Q18

27

0

40

80

120

160

200

9/30 10/31 11/30 12/31 1/31 2/28 3/31

2016-2017

2017-2018

2018-2019

10 Year Avg

Cumulative Snow Events by Winter Season*

Margin Performance Improving

• Strong deicing demand for highway and consumer products in North America driven by above-average winter weather in 1Q19

• Additional upside in 1Q19 provided by:

- Extended shipping period on the Great Lakes and river systems

- Better-than-expected production at both North America salt mines

- Strong commercial execution to maximize in-season opportunities in both highway deicing and consumer and industrial sales

• Achieved significant margin expansion vs. 1Q18

• Goderich mine performing well following March shutdown *The number of snow events in 11 cities in Compass Minerals’ primary North American deicing region compared

with the 10-year average number of snow events, which is the mean number of snow events for the periods ended in the 2017-2018 season as well as two prior winters. For more information, please see the company’s investor relations site at www.compassminerals.com.**Non-GAAP measure. See appendix for reconciliations.

$1.50

$2.50

$3.50

$4.50

COMMODITY PRICES

$3.00

$3.50

$4.00

$4.50

$8.00

$9.00

$10.00

$11.00

$12.00

$3.50

$4.50

$5.50

$6.50 2012 – 2019Almonds

2015 – 2019Corn

2015 – 2019Soybean

2015 – 2019Wheat

123

9281

6275

63

0

20

40

60

80

100

120

140

47.650.5 49.3

56.4 57.954.6

40 38

44 42 44 46

30

40

50

60National Yield Average

(Bags / Ha)

Production Cost (Bags/Ha)

Brazilian Soybean Profitability Metrics and Trend

15

20

25

30

Dec-17 Jun-18 Dec-18

Brazil Barter Rates (Bag per Ton /NPK)December 2017 – April 2019

3

3.1

3.2

3.3

3.4

3.5

3.6

3.7

3.8

3.9 • Brazil 2019 GDP growth forecast has been lowered from 2% to 1.3% and industrial GDP projection lowered from 3% to 1.1%

• Farmers in both the USA and Brazil are facing unfavorable grower economics

• 124+ year precipitation event in many areas of the U.S.

Sources: Argus Media; USDA NASS; Gro Intelligence; USDA- ERS; Bloomberg; Itau BankNOAA; Agroconsult; CONAB; Compass Minerals’ internal assessment.

US Net Farm Income($ Billion)

Real to Dollar FXYearly Average

Plant Nutrition: Facing Headwinds toStart 2019

FARM PROFITS CURRENCY

NA WEATHER

28

Total Precipitation PercentilesJanuary-March 2019

Delivering on Commitments: Strong Free Cash Flow Expectations

29

SaltSales

Plant NutritionSales

$0

$50

$100

$150

$200

$250

2015 2016 2017 2018 2019E

Capital Expenditures Stabilizing (in millions)

Major Investments

in Place

SaltSales

Plant NutritionSales

*Free Cash Flow is defined as Cash Flow From Operations –capital expenditures. This is a non-GAAP measure. See appendix for reconciliations.

-$100

-$50

$0

$50

$100

$150

$2002015 2016 2017 2018 2019E

Free Cash Flow* Increasing(in millions)

Cash flow from operations - capexForecasted range

Normalized

2.3x

3.9x4.3x 4.3x

~3.7x

Adjusted Net Debt Leverage ratio

Our Value Proposition

• Significant growth opportunity in uniquely positioned Plant Nutrition business- Broad and comprehensive specialty product portfolio and leading SOP position- Strong market access to key crop growing regions- Proven track record of innovative product introductions- Expect to be able to capture significant upside as agriculture market conditions improve

• Expect increased ability to generate sizable free cash flow levels in 2020 and 2021- Based on improving execution in Salt business, normalizing agriculture market conditions and

better margin performance in both businesses- Expected to support balance sheet enhancement through debt reduction

• Meaningful upside potential to current valuation

30

Appendix

31 31

2Q19 EBITDA

2Q19 Outlook (as of April 30, 2019)

• Salt segment expected to generate increased EBITDA on lower revenue compared to 2Q18 results due to improved pricing and North American mine production

• Plant Nutrition North America sales beginning to improve, unlikely to fully recover 1Q19 volume shortfall due to shortened planting season

- Full-year market conditions for key crops remain attractive

• Plant Nutrition South America segment expects year-over-year second quarter growth in sales through increased agriculture B2B sales

32

Salt Plant Nutrition North America

Plant Nutrition South America

2Q19 Revenue $105M $120M

$40M$30M

$50M

$15M $20M

$60M $75M

$5M $8M

$85M

2019 Full-Year Guidance Ranges(as of April 30, 2019)

33

Key Metrics(in millions of dollars unless otherwise noted) Current PriorSegment Outlook Low High Low High

Salt Segment Sales Volumes (in millions of tons) 10.5 11.0 10.0 10.5

Plant Nutrition North America Segment sales volumes (in thousands of tons) 340 380 350 400

Plant Nutrition South America Segment sales volumes (in thousands of tons) 800 900

Consolidated and Corporate Outlook Low High Low High

Consolidated EBITDA $310 $350

Corporate and other expense (ex. depreciation) $50 $55

Interest expense $65 $67

Depreciation, depletion and amortization $140 $145

Capital expenditures $95 $105

Effective tax rate ~28% 27% 28%

Reconciliation of Non-GAAP InformationReconciliation for EBITDA and Adjusted EBITDA (unaudited)

(in millions)12 months endedMarch 31, 2019

Net earnings $ 63.8Interest expense 65.0Income tax expense 9.3Depreciation, depletion and amortization 137.6EBITDA $ 275.7CEO transition cost(1)

5.1Other expense, net(2)

(0.2)Adjusted EBITDA $ 280.6

Total revenue 1,459.4Adjusted EBITDA margin 19.2%

(1) The company incurred certain severance costs related to the transition of Mr. Malecha from his role as Chief Executive Officer and the appointment of Mr. Grant to Interim Chief Executive Officer. These costs related primarily to separation payments and benefits, including the accelerated vesting of certain equity awards.

(2) Primarily includes interest income and foreign exchange gains and losses.

34

Reconciliation of Non-GAAP Information

35

Reconciliation for Plant Nutrition North America and South America CombinedSegment EBITDA (unaudited)

(in millions)12 months endedMarch 31, 2019

Segment GAAP operating earnings $ 64.1Depreciation, depletion and amortizationEarnings in equity method investee

70.81.0

Segment EBITDA $ 135.9

Segment sales 600.7

Segment EBITDA margin 22.6%

Reconciliation of Non-GAAP Information

36

Reconciliation for Salt Segment EBITDA (unaudited)(in millions)

12 months endedMarch 31, 2019

Segment GAAP operating earnings $ 133.9

Depreciation, depletion and amortization 56.8

Segment EBITDA $ 190.7

Segment sales 848.6

Segment EBITDA margin 22.5%

37

Reconciliation for Salt Segment Adjusted Operating Earnings (unaudited)(in millions)

2005 2006 2007 2008 2009 2010 2011

Operating earnings $138.0 $114.4 $138.7 $191.7 $232.4 $206.0 $184.7

Estimated losses incurred from tornado net of recoveries1 - - - - - - 16.4

Adjusted operating earnings $138.0 $114.4 $138.7 $191.7 $232.4 $206.0 $201.1

1) In August 2011, the company’s rock salt mine and evaporated salt plant in Goderich, Ontario, sustained damage from a tornado. The amount reported is management’s estimate of the impact on the period’s net earnings from losses caused by the tornado that had not yet been recovered through insurance. The estimate of pre-tax losses of $16.4 million in 2011 and $21.4 million in 2012 primarily includes lost sales volumes, higher per-unit production costs and higher costs to serve customers – including purchased products and logistical inefficiencies – realized in the period.

2) In the fourth quarter of 2013, the company recorded a reserve of $4.7 million related to a ruling against the company from a 2010 labor matter.3) In the third quarter of 2014, the company reported a gain from an insurance settlement relating to damage sustained by the company as a result of a

tornado that struck the company’s rock salt mine and evaporated salt plant in Goderich, Ontario.

2012 2013 2014 2015 2016 2017 2018

Operating earnings $126.0 $181.3 $291.4 $215.2 $200.6 $138.0 $115.7

Estimated losses incurred from tornado net of recoveries1 21.4 - - - - - -

Estimated cost of legal ruling2 - 4.7 - - - - -Insurance settlement3 - - (82.3) - - - -Restructuring charge - - - - - 2.0 -

Adjusted operating earnings $147.4 $186.0 $209.1 $215.2 $200.6 $140.0 $115.7

Reconciliation of Non-GAAP Information

38

Reconciliation for Free Cash Flow (unaudited)(in millions)

2015 2016 2017 2018

Cash flow from operations $ 137.9 $ 167.3 $ 146.9 $ 190.7

Capital expenditures 217.6 182.2 114.1 96.8

Free cash flow ($ 79.7) ($ 14.9) $ 32.8 $ 93.9