2011 agrium fact book v15 w links

7/28/2019 2011 Agrium Fact Book v15 w Links

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Agrium 2011-2012 FACT BOOK 02


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Agrium2011-2012 FACT BOOK i

Agrium History and Overview 1Pro ile 2

Agrium Timeline 2History 3Production Facilities and Annual Production Capacities 5

Building a Global Presence 7

Agrium Going Global 8South America Markets 9

Agrium South America Retail 9Products 9

Agrium South America Wholesale 10Production Capacity 10Agrium Owned Distribution Facilities 10Agrium South America Wholesale Production and Distribution Locations 11

Asia and Parts o the Paci ic Rim Markets 12 Agrium China O ice and Han eng Production Facilities 12 AWB Acquisition 13European Markets 14

Agrium Europe 14 A rica and Middle Eastern Markets 15 A rica and Middle East - Damietta (MOPCO) 15

Wholesale 16

Agrium Wholesale: Leading Global Supplier 17 Agrium Products 17Production Facilities and Annual Production Capacities 18

Agrium Wholesale Owned Distribution Facilities 19 Agrium North America Wholesale Production and Distribution Locations 21Industry Participants 22

Retail 26

Agrium Retail: Best in Class 27 Agrium Retail Products 27Crop Production Services (CPS) 27

Agrium North America Retail Locations 34U S Industry Participants 35

Agrium South America Retail Locations 36Landmark Locations 38

Advanced Technologies 41

Agrium Advanced Technologies: Embracing the Future 42Products 42

Annual Production Capacities by Product 43ESN Features, Advantages and Bene its 43

Product Innovation 44 Agrium Advanced Technologies Production and Distribution Locations 45 Agrium Advanced Technologies Tur and Ornamental; Direct Solutions Locations 46

Industry Participants 47

Advanced Technologies 48South America 50

Asia and Parts o the Paci ic Rim 51Europe 52

A rica and the Middle East 53North America Wholesale 54

Table o Contents


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Agrium 2011-2012 FACT BOOK ii

Agricultural Statistics 55Global Total Grains Supply/Demand 56Crop Cycles: Growing Seasons for Key Global Regions 57Crops: Area, Production and Stocks 58Corn Supply and Use 59Fertilizer Application Rates 60Nutrient Uptake and Removal by Field Crops 61Nutrient Uptake and Removal by Field Crops - Western Canada 62Planted Area and Production by Crop 63Crop Production - Argentina 64Crop Production - Brazil 65Crop Production - Europe 66Crop Production - Asia 68Crop Production - Australia and New Zealand 69

Australia Crops: Supply and Use 71Fertilizer Application Rates- Australia 72Crop Production - Africa 73Crop Production - Middle East (West Asia) 74

Fertilizer Statistics 75

Fertilizer Consumption by Region 76Fertilizer Consumption by Country 76Fertilizer Production by Region 77Global Fertilizer Capacity by Country 77Global Nutrient Trade Data: Imports and Exports 78Global NPK Consumption 82Growth in World Fertilizer Consumption 82Fertilizer Supply/Demand Balance 83International Fertilizer Prices - Historical 85Global Population vs Global Fertilizer Consumption 86

Total Consumption of Fertilizers and Plant Nutrients 87Fertilizer Consumption 90Fertilizer Consumption in Brazil, Argentina and Chile 91Fertilizer Consumption in Europe - Top Five 92Fertilizer Consumption in Asia and Parts of the Pacific Rim - Top Five 93Fertilizer Consumption in Parts of the Pacific Rim 94Fertilizer Consumption in Africa and the Middle East - Top Five 95Historical Nitrogen Fertilizer and Gas Prices 96Historical P&K Fertilizer North America 97United States Ethanol/Biodiesel Facts 98

Constants and Conversions 99

Fertilizer Production Processes 100Raw Material Requirements 102Fertilizer Minerals 104Product Analysis 105General Conversion Factors 106

Energy Conversion Factors 107Other Constants and Conversions Factors 108

Calorific Values 108Nutrient Factors 108Crop Weight Conversions 109

IFA Regional Classification 2010 110

Table of Contents


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Agrium2011-2012 FACT BOOK 1

AgriumHistory and Overview

Where the Future is Growing


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Agrium is a major retail supplier o agricultural products and services in North and South America and a leading global producerand marketer o agricultural nutrients and industrial products We produce and market three primary groups o nutrients: nitrogen,phosphate and potash as well as controlled-release ertilizers and micronutrients A key di erentiator o Agrium is that we are theonly publicly traded company that crosses the entire agricultural value chain This means that our ocus on growth begins in ourmanu acturing acilities and extends to the ields where our customers use our products Sales rom our diverse port olio o productsand services generated $10 5 billion in revenues in 2010 Agrium has 157 million shares outstanding and a market capitalizationo nearly $14 5-billion (as o December 31, 2010) Agrium employs over 14,000 people globally who are dedicated to the ongoingtrans ormation o the Company to achieve our vision o being one o the worlds leading providers o inputs or plant growth bycreating value or each o our stakeholders

Agrium divides the Company into three strategic business units:

Our agricultural Retail division is the largest direct-to-grower agricultural retail operation in the Americas, and generated nearly$7 0-billion in net sales in 2010, primarily rom seed, crop protection and crop nutrient products We have raised the scale and

size o our North American and South American retail operations by adding retail centers in Texas and New Mexico in late 2009,Western Canada throughout 2009, Argentina in July 2010 and Australia in 2010 As o June 2011, Agrium has a total o 970 retaillocations in North America and South America

Our Wholesale division generated $3 7-billion in net sales in 2010 Wholesale manu actures, markets and distributes approximately10 5 million tonnes o nitrogen, potash, phosphates, and other products annually We service our customers through a network o close to 100 distribution warehouses, supplied by 14 major production acilities in addition to a number o smaller processingand specialty acilities Our strengths include a low cost in-market position, the ability to leverage distribution, ocus on continuedincremental expansion at key acilities and growth in new product sales and product o erings

Agrium Advanced Technologies (AAT) o ers premium environmentally bene icial controlled-release ertilizer and related productsto the agriculture industry as well as pro essional tur , horticulture and consumer lawn and garden markets AAT generated$390-million in net sales in 2010 AAT has a strong ocus on product innovation Internal research is conducted at two researchacilities; one in the United States and the other in Canada Agronomic research is conducted externally at agricultural institutionsacross North America

Pro ile

1931ComincoFertilizersLtd. entersthe fertilizerbusiness.

1965Homestead(Nebraska)NitrogenOperationsbeginsproduction

1968Borger (Texas)NitrogenOperationsbeginsproduction.

1969 Vanscoy(Saskatchewan)PotashOperationsbeginsproduction.

1977Carseland(Alberta)NitrogenOperationsbeginsproduction.

1987Joffre (Alberta)NitrogenOperationsbeginsproduction.

Agrium Timeline 1931-1989

(all figures in US$, except where noted)

Agriums MissionProviding

ingredients for growth.

Agriums VisionBe one of the worlds leading

providers of inputs for plant growth by creating value for each of our

stakeholders.


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Agrium was ormed to acilitate the reorganization o the ertilizer division o Cominco Ltd and the acquisition o the ertilizer assets o Alberta Energy Company in 1993 Agriums shares were irst publicly traded on the New York Stock Exchange on October 4th, 1996

Agrium established its Retail division through the acquisitions o Crop Production Services (CPS) in September 1994 and WesternFarm Service (WFS) in January 1995 Also in 1995, Agrium established an international presence in Argentina under the trade name

Agroservicios Pampeanos S A (ASP) In 2006, Agrium continued to build its Retail ranchise through the acquisition o Royster-Clarksretail operations Retail expansion continued in 2007 with the acquisition o ADMs 18 retail centers and 14 satellites in Kansas andOklahoma In 2008, Agrium completed the acquisition o United Agri Products (UAP), the Companys largest acquisition to date Thiswas a trans orming transaction or Agrium, as the acquisition urther expanded our retail presence in the United States, improvedour earnings diversi ication by increasing the pro it contribution rom our Retail business unit and diversi ied Agriums product mix byincreasing our weight in chemicals Upon completion o the acquisition o UAP, Agriums retail branches in the United States increasedrom 489 locations to 826 Agrium continued its Retail division growth with the establishment o 65 retail outlets in Western Canadathrough a number o transactions in 2009 and 2010, and the acquisition o 24 retail outlets in Argentina in July 2010 Additionally, inDecember 2010, Agrium acquired AWB Limited (AWB) The AWB Landmark business is a leading agricultural retailer in Australia,

with over 200 company operated retail locations, over 140 additional retail ranchise and wholesale customer locations in Australia andinvestments in various joint venture companies

The growth o Agriums Wholesale business was initiated with the acquisition o Nu-West Industries, a phosphate producer in Idahoin 1995 Agrium subsequently merged with Viridian in December 1996, substantially increasing the size o the company In 1997,

Agrium announced the development o the phosphate rock reserve at Kapuskasing, Ontario to obtain a domestic rock supply or theRedwater acility Production at the mine began in July 1999 In 1998, Agrium also acquired a phosphate rock mine located close toour Conda acility in Idaho to establish security o supply Agrium acquired UNOCALs (Union Oil o Cali ornia) agricultural productsdivision in September o 2000

In 2000, Agrium expanded into the Argentina market with a 50 percent ownership in Pro ertil S A with production in Bahia Blanca, Argentina In 2005, Agrium acquired the Western Canadian ertilizer distribution assets rom Imperial Oil

In 2008, Agrium acquired a 70 percent equity position in Common Market Fertilizers S A (CMF), one o Western Europes largestertilizer distribution companies; in April 2010 the remaining 30 percent was also acquired and CMF became Agrium Europe

1993ComincoFertilizers Ltd.enters thepublic market.

1994CropProductionServices (CPS)acquired.

1995Nu-WestIndustriesInc. andWestern FarmService (WFS)acquired.

ComincoFertilizersLtd. changesits name to Agrium Inc.

Agriumestablishes itsinternationalpresenceunder thetrade name AgroserviciosPampeanos(ASP).

1996 Agrium ispublicly tradedon the New York Stock Exchange.

Viridian Inc.acquired.Redwater(Alberta)FertilizerOperations(commencedoperations1968) and FortSaskatchewan(Alberta)NitrogenOperations(commencedoperations1983).

1998RasmussenRidge (Idaho)PhosphateMineacquired.

1999Kapuskasing(Ontario)PhosphateMine beginsproduction.

Agrium Timeline 1990-2005

2000UNOCALagriculturalproductsdivisionacquired.

ProfertilS.A. beginsproduction inBahia Blanca, Argentina.

History

2004 AstarisProductionLLC assets(Nu-WestsConda, IDphosphateoperation)acquired.

2005WesternCanadianfertilizerdistributionassets fromImperial Oilacquired.

18 retailoutlets in Argentina andChile fromUnited AgriProductsacquired.


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In 2008, Agrium entered into an agreement with MISR Oil Processing Company, S A E (MOPCO) o Egypt, whereby MOPCO acquiredthe previous EAgrium project, and EAgrium shareholders obtained an equity interest in the combined entity Agrium owns a 26 percentinterest in the combined entity, which includes a 675,000 tonne urea MOPCO acility In late 2009, MOPCO secured inancing ortripling the production o the existing nitrogen acility

In December 2010, Agrium acquired AWB Limited (AWB) With this addition, Agrium strengthened its international crop inputsourcing capabilities through the Landmark business In continuing this e ort, in May, 2011 Agrium divested the AWB commoditymanagement business to Cargill, Incorporated

Agriums Advanced Technologies business unit was established with the acquisition o Nu-Gros ertilizer technology and pro essionalbusinesses and Pursell Technologies in 2006 In 2007, Agrium acquired a 19 5 percent equity interest in Han eng Evergreen, a Chinesespecialty ertilizer company With this addition, Agrium rea irmed its leading position to provide environmentally riendly, controlled-release crop input products to a broad range o customers and segments Further expansion occurred in 2008 with the acquisitiono the Agronomics Division o Tur Care Products Canada Limited In 2010, AAT completed their construction o ESN coating ertilizer

acility located in New Madrid, Missouri In 2011 Agrium acquired Evergro Canada (Evergro) a leading manu acturer and distributoro horticultural and pro essional tur products in Western Canada The acquisition will enable Agrium to expand its ootprint withinCanada, while enhancing its expertise in providing controlled release ertilizers, pest control and soil amendment products to theNorth American specialty marketplace Additionally, Agrium acquired International Mineral Technologies (Tetra Micronutrients) TetraMicronutrients is located in Fairbury, Nebraska and specializes in the production, marketing and distribution o custom liquid plantnutrition and dry micro nutrient products, predominantly zinc sulphate

In 2011 Agrium acquired a 100% equity position in CerealToscana S A gaining 90,000 tonnes o storage and key distribution assetsin Europe CerealToscana is an Italian based company with a subsidiary in Romania, Agroport, with an average EBITDA o $8-millionover the past three years This purchase increased Agriums dry and liquid storage capacity in Europe to 400,000 tonnes

Today, Agrium is a major retailer, a leading wholesale producer, and an innovator through our Advanced Technologies business unitully diversi ying ourselves across the value chain As we enter 2012, Agrium will continue to ocus on achieving our mission and visionby continuing to execute against our strategic goals o investing through the value chain, establishing and maintaining the lowest costto serve wholesale position, diversi ying geographically, and investing counter-cyclically

2009 Agrium Retailconsolidates allUnited Statesoperationsunder thename CropProductionServices (CPS).

Agrium Retailexpandsoperations intoCanada underthe name CropProductionServices (CPS)Canada.

26 percentshareholding,in MOPCO(Egypt)obtained.

Agrium Timeline 2006-present

2010 Additional30 percentequity positionin CommonMarketFertilizersS.A. (CMF)acquired;name changedto AgriumEurope.

ASP acquires24 additionalretail outlets in Argentina.

Agriumacquires AWBLimited andenters the Asia-PacificMarket.

History

2011 Agrium acquires100 percentequity position inCerealToscanaand Agroportgaining 90,000tonnes ofstorage andkey distributionassets in Europe.

Agrium sells AWB CommodityManagement for$677-million.

Agrium AdvancedTechnologiesacquiresEvergro Canadaand TetraMicronutrients.

2006Royster-Clark acquired.

Nu-Grofertilizertechnologyandprofessionalproductsbusinessesacquired.

PursellTechnologiesacquired.

200719.5 percentequity stakein HanfengEvergreenacquired.

ADMs 18retail centersand 14satellites inKansas andOklahomaacquired.

2008United AgriProducts (UAP),acquired.

70 percentequity positionin CommonMarketFertilizersS.A. (CMF)acquired.

Agrium openedan office inBeijing, China.

AgronomicsDivision of TurfCare ProductsCanada Limitedacquired.


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Production Capacity(product tonnes per year)

Nitrogen Based Fertilizers

Argentina Bahia Blanca (Profertil S.A.)(1)

Ammonia(gross) 375,000 Ammonia(net) 35,000Urea 600,000

CanadaRedwater, Alberta

Ammonia #1 280,000Ammonia #2 680,000Ammonia Total(gross) 960,000Ammonia Total(net) 250,000Urea(2) 720,000Ammonium Nitrate(2) 250,000Ammonium Sulphate 355,000Nitrogen Solutions 180,000

Carseland, AlbertaAmmonia(gross) 535,000Ammonia(net) 135,000Urea 680,000

Joffre, AlbertaAmmonia(net) 480,000

Fort Saskatchewan, AlbertaAmmonia(gross) 465,000Ammonia(net) 170,000Aqua Ammonia(gross) 90,000Urea 430,000

Upgrade Facilities (3) (Standard and Granum)

Nitrogen Solutions(material) 120,000



EgyptAmmonia(gross) 104,000Ammonia(net) 6,000Urea(4)(5) 170,000

United States Borger, Texas

Ammonia(gross) 490,000Ammonia(net) 430,000Urea 99,000

Upgrade Facilities (3) Kennewick, Washington

Nitrogen Solutions(material) 430,000West Sacramento, California

Nitrogen Solutions(material) 204,000North Bend, Ohio

Nitric Acid, Nitrogen Solutions(material) 110,000

Agriums World Capacity(product tonnes per year)

Ammonia(gross)(5) 3,406,000 Ammonia(net)(5) 1,514,500Urea(5) 2,672,000

Ammonium Nitrate 250,000 Ammonium Sulphate 355,000Solutions/Other 1,209,000MAP 960,000Potash 2,050,000

(1) Profertil S.A. is 50 percent owned by Agrium Inc. and 50 percent owned by Repsol YPF, S.A. The stated capacity numbers represent Agriums 50 percent ownership.(2) Includes product used to produce nitrogen solutions.(3) Upgrade Facilities use ammonia and urea from other sources. They do not purchase natural gas to produce their own ammonia and urea.(4) Projected urea capacity will be 525,000 by mid 2012, based on 26 percent ownership position in MOPCO.(5) Only includes the 50 percent of Profertils capacity and 26 percent of MOPCO that are owned by Agrium Inc.Note: Figures exclude idle capacity.

Production Facilities and Annual Production Capacities


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Phosphate Based Fertilizers

Canada Redwater, Alberta

Mono-Ammonium Phosphate 660,000P2O5 Equivalent 345,000

Kapuskasing, OntarioAverage Concentrated Rock is 37% P2O5Concentrated Rock Mined Annually 0.91 Million Tonnes

United States Soda Springs (Conda), Idaho

Mono-Ammonium Phosphate 300,000Phosphates P2O5 Equivalent 345,000Other Product Capacity(1) 165,000

Dry Valley, Idaho Average Concentrated Rock is 31% P2O5Ore Mined Annually 2.0 Million TonnesConcentrated Rock Produced Annually 1.3 Million Tonnes

Total Canada and United States (P2O5) 720,000

Potash Based Fertilizers

CanadaVanscoy, Saskatchewan

Potash KCl (MOP) 2,050,000

(1) Conda also produces other phosphate products such as merchant grade acid and super phosphoric acid some of which is upgraded to phosphate solution..(2) Includes over 30 different ammoniated grades of fertilizer.(3) North America refers to Canada and the United States, and Agriums approximate share estimate is based on the International Fertilizer Development Centers (IFDC) June 2011 Cana

and United States production capacity figures. Urea capacity includes urea solution capacity.(4) Based on Worldwide Ammonia Capacity, Listing by Plant, June 2011.

IFDC Worldwide Phosphoric Acid Capacity, Listing by Plant, June 2011.IFDC Worldwide Potash Capacity, Listing by Plant, June 2011.IFDC Worldwide Urea Capacity, Listing by Plant, June 2011.

Agriums Approximate Share o 2010/11Global Production Capacity (4)

Ammonia(gross) 1.7%Urea 1.4%Phosphate 2.1%Potash 4.3%

Agriums Approximate Share o 2010/11North America Production Capacity (3)

Ammonia(gross) 20.1%Urea 24.0%Phosphate 9.7%Potash 13.4%


Rainbow Plant Capacities (2) United States

Florence, Alabama 137,000Americus, Georgia 159,000

Total Rainbow 294,000



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Building a

GlobalPresence


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Asia Pacifc Agrium Advanced

Technologies19 5 percent equityposition in thespecialty ertilizercompany, Han engEvergreen Inc(Han eng) in China

RetailIn 2010, Agriumacquired AWBLimited (AWB)and will retainthe Landmark business and its200 plus operatedretail locationsand approximately140 ranchise andmember outlets

A rica and theMiddle EastWholesale26 percent interestin MISR FertilizersProductionCompany S A E(MOPCO) in Egypt

South AmericaWholesalePro ertil S A is 50percent owned by

Agrium Inc and 50percent owned byRepsol YPF, S A in

Argentina

Retail51 Retail Centers

under the name AgroserviciosPampeanos (ASP)in Argentina, Chileand Uruguay

EuropeWholesale

Agrium Europe( ormerly CommonMarket FertilizersS A (CMF))

North AmericaWholesale14 ProductionFacilities;3 Mines;Extensive

Distribution andStorage Network

RetailOver 900 RetailCenters underthe name o CropProduction Services(CPS) and CropProduction ServicesCanada

Agrium AdvancedTechnologies7 ProductionFacilities;

Product InnovationFacility;ExtensiveDistribution andStorage Network

Agrium Going Global


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Investing in South America provides an opportunity to grow where agriculture is growing Our current operations, Pro ertil and Agroservicios Pampeanos (ASP), will allow us to leverage our strengths as we enter new markets Brazil, Uruguay and Chile are keymarkets or expansion in South America beyond our Argentinian base In 2009, we continued to grow by opening two retail armbranches in Uruguay In 2010, ASP acquired 24 retail outlets and a ormulation plant rom DuPont in Argentina

Argentina Argentina is the second largest producer o crops in South America Argentina has approximately 31 million hectares o arable land The three major crops produced in Argentina are corn, wheat and soybeans Nutrient consumption in 2010 was 350, 600 and 45thousand metric tonnes o nitrogen, phosphate and potash, respectively From 2010 to 2015, Argentinas annual growth rate ortotal nitrogen, phosphate and potash consumption is orecast to be approximately 3 percent Agrium entered Argentina in 1995 as

ASP ully owned, and in 2000 as a joint venture project with Repsol YPF SA

Brazil

Brazil is one o the largest ertilizer import markets in the world It is also one o the astest growing markets in the world, withprojected 4 5 percent compound annual growth rate between 2010 and 2015 Brazil has the ourth highest consumption o cropnutrients in the world and is the worlds third largest import market Nutrient consumption in 2010 was 2 9mmt, 3 2mmt and3 9mmt or nitrogen, potash and phosphate respectively Looking orward, Brazil is one o the ew countries in the world with anunder-utilized land base and avourable climate to acilitate continued expansion o a cultivated land Growth in seeded areas andyields is expected to increase Brazils agricultural production steadily or the oreseeable uture

Brazil is expected to build on and enhance its production and export leadership o several agricultural products including sugarcane,corn, soybeans, bee , oranges, co ee and poultry

ASP (Agroservicios Pampeanos) is a wholly owned subsidiary o Agrium with close to 400 employeesserving armers through Farm Centers that supply inputs and services in Argentina and Chile Productsinclude ertilizers, chemicals, and seed ASP expanded into Uruguay in 2009 with two arm centers built toexpand Agriums South American presence

ASP Chile is involved primarily in the distribution o private label chemical products to retail acilities

Products

Granulated UreaDiammonium Phosphate (DAP)Monammonium Phosphate (MAP)Granulated Ammonium Sulphate

Source: Fertecon, Urea Outlook 2011(2), July 2011.CRU, Phosphoric Acid, DAP, MAP and TSP Ten Year Outlook 2011, July 2011.Fertecon, Potash Outlook, August 2011.

South America Markets

Agrium South America Retail


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Agrium began commercial production at the Pro ertil plant in Bahia Blanca, Argentina in the third quarter o 2000 Agrium owns 50percent o Pro ertil while Repsol YPF, S A , one o the leading oil and gas companies in the world, owns the other hal

Production Capacity(metric product tonnes per year)

Nitrogen Based Fertilizers:

ArgentinaBahia Blanca (Pro ertil S A ) (1)

Ammonia (gross) 750,000Ammonia (net) 70,000Urea 1,200,000

Agrium Owned Distribution Facilities(metric product tonnes per year)

Argentina (1)Urea NH 3 Liquid

Bahia Blanca 150,000 20,000San Nicolas 77,000 45,000

Total Argentina 227,000 20,000 45,000

(1) Profertil S.A. is 50 percent owned by Agrium Inc. and 50 percent owned by Repsol YPF, S.A., figures shown represent total production.Source: Agrium

Agrium South America Wholesale


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Nitrogen Production Facility

Anhydrous Ammonia Storage

Solution StorageDry Storage

Agrium South America Wholesale Production and Distribution Locations


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ChinaChina has the largest population in the world, with over 1 3 billion residents representing 20 percent o the global population Chinahas 8% o the worlds arable land at approximately 109 million hectares China has the largest agricultural production in the worldby volume China is the worlds largest ertilizer market, accounting or nearly 30 percent o the worlds demand Rising annualincomes o Chinas population are driving an improvement in diets and increasing the amount o grain, dairy, ruits and vegetablesand meat consumed in China Over the next ten to i teen years we expect there will be an increased demand both on Chinasarable land and global crop nutrients as industrialization accelerates Chinas cropland loss

Our 19 5 percent investment in Han eng Evergreen Inc allows Agrium to leverage o our expertise in the specialty ertilizer businessand provides a plat orm or uture growth in the important Chinese ertilizer and agriculture market

IndiaForecasts indicate that by 2025 India will become the 5th largest consumer economy in the world While urbanization is notoccurring as ast as some parts o Asia, urban population is expected to grow signi icantly With this, comes a rising middle-classwhich is expected to surpass that o China over the next 10 years Indias ood consumption will increase with an increase inpopulation and income, that will require an increase in agricultural production This increase in agricultural production will increasedemand or crop nutrients

India has approximately 158 million hectares o arable land The major crops in India are rice paddy, wheat and sugar cane Fertilizerconsumption in 2010 was 16 mmt, 7 mmt and 4 mmt or nitrogen, phosphate and potash, respectively From 2010 to 2015, Indiasannual growth rate or total nitrogen, phosphate and potash consumption is estimated to be 2 percent, 2 percent and 5 percentrespectively

Australia The $40-billion arm sector in Australia produces a variety o crops including grains, vegetables, sugar cane and pasture land orlivestock With a relatively small population o 22 million, Australia is a key exporter o wheat and barley into Asia and the MiddleEast The three basic categories o ertilizers (nitrogen, phosphate and potash) are all used as crop inputs in Australia Demand

or specialty products has increased in recent years and many suppliers now o er such products to suit the speci ic purposes o individual end users Australian ertilizer demand growth is expected to be similar to other mature markets such as North America,and relatively lat compared to historic trends Fertilizer consumption in recent years has been below historical trend levels due todrought conditions, allowing or a potential bounce back through higher short-term growth rates

JapanN. KoreaS. Korea

Mongolia

China

NepalPakistanIran

Afghanistan

Kazakhstan

Bangladesh

Agrium China O ice Han eng Production Facility

Source: Fertecon, Urea Outlook 2011(2), July 2011.CRU, Phosphoric Acid, DAP, MAP and TSP Ten Year Outlook 2011, July 2011.Fertecon, Potash Outlook, August 2011.

Asia and Parts o the Paci ic Rim Markets

Asia and Parts o the Paci ic Rim


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On December 3, 2010 Agrium success ully completed the acquisition o all o the shares o AWB Limited (AWB) or a value o AUD $1 50 per share, or a total price o approximately AUD $1 2 billion AWB was Australias leading agribusiness company andemploys over 2,200 people AWB had two primary business streams: Rural Services and Commodity Management Rural Servicesconsisted o Landmark, one o Australias largest distributors o ertilizer and agricultural products On May 11, 2011 Agrium soldthe Commodity Management business o AWB It was sold or $677-million including repayment o $363-million o working capitalunding Agrium provided This lowered the estimated net purchase price or Landmark retail operations to $0 8-billion a ter adjustingor the sale

This acquisition will allow Agrium to continue our strategy o growing our retail business The acquisition o AWB provides Agriumwith signi icant potential to enhance product and services to growers in Australia, through the Landmark division, by utilizing ourinternational and ertilizing crop protection sourcing capabilities There is also the potential to expand Agriums products and serviceo erings in North and South America Landmarks longstanding reputation amongst Australian armers complements Agriumsglobal business and provides a stronger plat orm or Agriums growth, particularly in the South East Asian region

Rural Services (Landmark)n Australias largest distributor o ertilizer and crop chemicalsn Provides a wide range o agribusiness products and services to customersn Advisory services: agronomic, animal nutrition and whole arm planningn Over 400 outlets across Australia and New Zealandn FY2010 Net Sales $1675 MMn FY2010 EBITDA $69 MM

(1) Note: AWBs fiscal year ends September 30Source: Scheme Booklet

Company Websites

AWB Acquisition


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Brussels

Pleven

Angoulme

Reims

BuchholzRostock

Agrium EuropeValencia

Varna

Wetherby

Ravenna

Rouen

Ghent

Emden

Lubeck

SeteBordeaux

La Pallice

Antwerp

Thiersheim

Dobrich

Immingham

Ipswich

Castillion

Livorno

GalatiBraila

Europe produces a diversity o crops and engages in di ering agricultural practices due to variety in climate and ertilization patternsacross the continent Europe consumed approximately 55 million tonnes o ertilizer and $10 6 bn in crop protection chemicals in2010 (1) In the EU-27 (2)(3), there are approximately 82 million hectares o arable land, o which approximately 50 percent is cerealsand 9 4 percent is oilseeds The EU-15 (3) is a growth market or environmentally riendly crop nutrient and crop protection productsIn contrast, the countries in the EU-12 (2) and Eastern Europe (3) are less mature in terms o application rates o nitrogen, phosphateand potash, meaning ertilizer consumption growth in these markets will stay relative to Western Europe Fertilizer consumption inthe EU-12 and Eastern Europe is expected grow in the range o products and consumption

Agrium entered Europe in 2008 with the purchase o a 70% interest in a diverse distribution network, Common MarketFertilizers, (CMF) In 2010 the remaining 30% o CMF was purchased by Agrium and became Agrium Europe In May o 2011,

Agrium Europes ootprint was again enlarged with the purchase o Cereal Toscana in Northern Italy and Agroport in RomaniaHeadquartered in Brussels, Belgium, Agrium Europe employs approximately 120 people and has 9 sales o ices in seven di erentcountries Agrium Europe purchases, distributes and sells 2 8 million metric tonnes o nitrogen, phosphate and potash ertilizers inFrance, Germany, Benelux, United Kingdom/Ireland, Italy, Spain, Bulgaria, Romania and A rica Agrium has access to 465 thousand

metric tonnes o dry and liquid storage in Europe

(1) Fertilizer consumption is based on nitrogen, phosphate and potash from Western Europe EU15, Central Europe EU12 and Eastern Europe (Former Soviet Union).(2) EU-15: Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Spain, Sweden, and the United Kingdom.

EU-12: Bulgaria, Cyprus, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Romania, Slovakia and Slovenia.(3) Eastern Europe (Former Soviet Union): Armenia, Azerbaijan, Belarus, Estonia, Georgia, Kazakhstan, Kirghizia, Latvia, Lithuania, Moldavia, Russia, Tajikistan, Turkmenistan, For

USSR, Ukraine and Uzbekistan.Source: IFA, European Fertilizer Consumption, 2009.

Phillips McDougall, Industry Overview Europe, May 2011.FAO Website, Crop Production Statistics, updated May 2011.

European Markets

Agrium Europe

Agrium Europe Head O ice - Brussels, Belgium

Agrium Europe Subsidiary/Sales O ice

Solution Storage

Dry Storage


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Wholesale


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Our Wholesale division is one o the worlds largest ertilizer distributors, marketing approximately 10 5 million tonnes(1)

o nitrogen,phosphate, potash and secondary nutrients annually Our products are predominately produced by 14 strategically locatedproduction acilities (2) and marketed around the world

Agriums Wholesale division manu actures, markets, and distributes three primary nutrients: nitrogen, phosphate, and potash Weservice our customers through a network o close to 100 distribution warehouses, supplied by 14 production acilities Some o oursuppliers to our distribution network are also competitors rom a manu acturing perspective Our strengths include a low cost-in-market position, the ability to leverage distribution, a ocus on continued incremental expansion at key acilities and growth in newproduct sales and product o erings

Potassium (K)

n Current capacity o over 2 1 millionproduct tonnes

n Market internationally through Canpotex

Nitrogen (N)

n Facilities strategically locatedin Canada, the United States and

Argentina have a combined annualcapacity o approximately 5 2 millionproduct tonnes

n Competitive advantages o lower-cost Argentina, Egypt, and Alberta gas aswell as a close proximity to key markets

Phosphate (P)

n Two phosphate plants, combined annualcapacity o approximately 1 1 millionproduct tonnes

n Delivered cost advantage in WesternCanada and North Western UnitedStates markets

n Integrated mining and production,access to low-cost sulphur andsulphuric acid

Agrium Products

Fertilizer: Ammonium Polyphosphate Monoammonium Phosphate (MAP) Ammonium Sulphate Muriate o Potash Anhydrous Ammonia Nitrogen Solutions Aqua Ammonia Super Phosphoric Acid (SPA)Calcium Ammonium Nitrate (CAN 17) UreaMerchant Grade Phosphoric Acid (MGA)

Industrial: Ammonium Nitrate Muriate o Potash Anhydrous Ammonia Nitric Acid, 42 and 38 Baume Aqua Ammonia Urea Ammonium NitrateMerchant Grade Phosphoric Acid (MGA) UreaMonoammonium Phosphate (MAP) Vanox (1) Inclusive of distribution business and Profertil.(2) Includes our joint venture agreement with Profertil in Bahia Blanca, Argentina.

Agrium Wholesale: Leading Global Supplier


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CanadaRedwater, Alberta

Ammonia #1 280,000Ammonia #2 680,000Ammonia Total(gross) 960,000Ammonia Total(net) 250,000Urea(1) 720,000Ammonium Nitrate(1) 250,000Ammonium Sulphate 355,000Nitrogen Solutions 180,000

Carseland, AlbertaAmmonia(gross) 535,000Ammonia(net) 135,000Urea 680,000

Joffre, AlbertaAmmonia(net) 480,000

Fort Saskatchewan, AlbertaAmmonia(gross) 465,000Ammonia(net) 170,000Urea 430,000Aqua Ammonia(gross) 90,000

Upgrade Facilities (2) (Standard and Granum)

Nitrogen Solutions(material) 120,000 United States Borger, Texas

Ammonia(gross) 490,000Ammonia(net) 430,000Urea 99,000

Upgrade Facilities (2) Kennewick, Washington

Nitrogen Solutions(material) 430,000West Sacramento, California

Nitrogen Solutions(material) 204,000

North Bend, OhioNitric Acid, Nitrogen Solutions(material) 110,000

(1) Includes product used to produce nitrogen solutions.(2) Upgrade Facilities use ammonia and urea from other sources. They do not purchase natural gas to produce their own ammonia and urea.(3) Conda also produces other phosphate products such as merchant grade acid and super phosphoric acid.(4) Includes over 30 different ammoniated grades of fertilizer.Note: Figures exclude idle capacity.



Phosphate Based Fertilizers

Canada Redwater, Alberta

Mono-Ammonium Phosphate 660,000P2O5 Equivalent 345,000

Kapuskasing, OntarioAverage Concentrated Rock is 37% P2O5Concentrated Rock Mined Annually 0.91 Million Tonnes

United States Soda Springs (Conda)(3), Idaho

Mono-Ammonium Phosphate 300,000Phosphates P2O5 Equivalent 345,000Other Product Capacity 165,000

Dry Valley, Idaho Average Concentrated Rock is 31% P2O5Ore Mined Annually 2.0 Million TonneConcentrated Rock Produced Annually 1.3 Million Tonnes

Total Canada and United States (P2O5) 720,000

Potash Based Fertilizers

CanadaVanscoy, Saskatchewan

Potash KCl (MOP) 2,050,000

Rainbow Plant Capacities (4)

United StatesFlorence, Alabama 137,000 Americus, Georgia 159,000

Total Rainbow 294,000


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Canada(metric tonnes of fertilizer storage)

Location Dry Ammonia Specialty (1) Total

Bloom, Manitoba 50,000 27,000 - 77,000Carseland, Alberta 50,000 36,000 22,000 108,000Clavet, Saskatchewan 64,000 - 34,000 98,000Ft Macleod, Alberta 17,000 - - 17,000Ft Saskatchewan, Alberta 65,000 36,000 - 101,000Granum, Alberta - - 13,000 13,000Kamloops, British Columbia - - 1,700 1,700Redwater, Alberta 200,000 122,000 10,000 332,000Roma Junction, Alberta - 170 - 170Standard, Alberta - - 21,000 21,000

Vanscoy, Saskatchewan 250,000 35,000 - 285,000Watson, Saskatchewan - 27,000 20,000 47,000

Total Canada 696,000 283,000 123,000 1,101,000

(1) Specialty includes solutions and specialty products.Source: Agrium

Agrium Wholesale Owned Distribution Facilities


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Agrium Wholesale Owned Distribution Facilities

United States(metric tonnes of fertilizer storage)

Location Dry Ammonia Specialty (1) Total

Americus, Georgia 52,000 - - 52,000Bainbridge, Georgia 18,000 - - 18,000Borger, Texas 16,000 - - 16,000Burley, Idaho 8,000 - - 8,000Conda, Idaho 66,000 - - 66,000Early, Iowa - 66,000 - 66,000Florence, Alabama 23,000 - 1,000 24,000Glade, Washington 18,000 - - 18,000Hoag, Nebraska - 18,000 7,000 25,000Homestead, Nebraska 27,000 - - 27,000Kennewick, Washington (2) 22,000 20,000 115,000 157,000Lynchburg, Virginia 9,000 - - 9,000Leal, North Dakota - 37,000 - 37,000Marseilles, Illinois - 25,000 24,000 49,000Meredosia, Illinois - 7,000 31,000 38,000Moses Lake, Washington 10,000 - 10,000 20,000Mt Vernon, Indiana 50,000 - 5,000 55,000Newton, Illinois - - 4,000 4,000Niota, Illinois - 18,000 - 18,000North Bend, Ohio 11,000 21,000 22,000 54,000Paducah, Kentucky - - 13,000 13,000Plymouth, Washington 18,000 - 2,000 20,000

Ti ton, Georgia 16,000 - - 16,000West Sacramento, Cali ornia 35,000 44,000 37,000 116,000Wilmington, North Carolina 30,000 - - 30,000

Total United States 429,000 255,000 270,000 954,000

(1) Specialty includes solutions and specialty products.(2) Includes capacity from Kennewick and Finley, Washington.Source: Agrium


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2011 Ammonia Plant Capacities and Locations(000 metric nutrient tonnes per year)

Capacity ofCompany Site NH 3 Product

Canada Agrium Inc. Carseland, Alberta 439Agrium Inc. Ft. Saskatchewan, Alberta 381Agrium Inc. Joffre, Alberta 394Agrium Inc. Redwater, Alberta 787CF Industries, Inc. Courtright, Ontario 369Canadian Fertilizer Ltd. Medicine Hat, Alberta 931Koch Fertilizer Canada Inc. Brandon, Manitoba 353Sherritt International, Inc. Ft. Saskatchewan, Alberta 130Yara Belle Plaine Inc. Belle Plaine, Saskatchewan 590

Total Canada 4,374

United States Agrium U.S. Inc. Borger, Texas 402CF Industries, Inc. Donaldsonville, Louisiana 2,121CF Industries, Inc. Port Neal, Iowa 283CF Industries, Inc. Verdigris, Oklahoma 804CF Industries, Inc. Yazoo City, Mississippi 417CF Industries, Inc. Woodward, Oklahoma 357Coffeyville Res. Coffeyville, Kansas 320Dakota Gasification Company Beulah, North Dakota 291Dyno Nobel Cheyenne, Wyoming 146Dyno Nobel St. Helens, Oregon 83Green Valley Chemical Creston, Iowa 26Honeywell International Hopewell, Virginia 459Koch Industries Inc. Beatrice, Nebraska 217Koch Industries Inc. Dodge City, Kansas 230Koch Industries Inc. Enid, Oklahoma 818Koch Industries Inc. Fort Dodge, Iowa 287LSB Industries Cherokee, Alabama 130LSB Industries Pryor, Oklahoma 189Mosaic Company Faustina, Louisiana 421Potash Corporation of Saskatchewan Augusta, Georgia 585Potash Corporation of Saskatchewan Lima, Ohio 491

Rentech Inc. E. Dubuque, Illinois 228 Total United States 9,305

Total Canada and United States 13,679

Source: IFDC Worldwide Ammonia Capacity Listing by Plant, June 2011.

Industry Participants Production and Distribution Locations


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2011 Urea Plant Capacities and Locations (000 metric nutrient tonnes per year)

BlueIFDC Johnson

Company Site Capacity (1) Capacity (Includes Urea Melt) (Includes Urea Melt)

Canada Agrium Inc. Carseland, Alberta 313 344Agrium Inc. Ft. Saskatchewan, Alberta 198 179Agrium Inc. Redwater, Alberta 331 325CF Industries, Inc. Courtright, Ontario 117 119Canadian Fertilizer Ltd. Medicine Hat, Alberta 338 307Koch Fertilizer Canada Inc. Brandon, Manitoba 129 129Yara Belle Plaine Inc. Belle Plaine, Saskatchewan 511 453

Total Canada 1,936 1,857

United States Agrium U.S. Inc. Borger, Texas 46 46CF Industries, Inc. Donaldsville, Louisiana 1,068 983CF Industries, Inc. Port Neal, Iowa 142 134CF Industries, Inc. Verdigris, Oklahoma 288 284CF Industries, Inc. Yazoo City, Missouri 71 81CF Industries, Inc. Woodward, Oklahoma 92 125CVR Energy Coffeyville, Kansas 157 100Dyno Nobel Cheyenne, Wyoming 44 42Dyno Nobel St. Helens, Oregon 52 56Koch Industries Inc. Beatrice, Nebraska 29 29Koch Industries Inc. Dodge City, Kansas 38 38Koch Industries Inc. Enid, Oklahoma 231 232Koch Industries Inc. Fort Dodge, Iowa 79 79LSB Industries Inc. Cherokee, Alabama 100 35LSB Industries Inc. Pryor, OK 64 50Potash Corporation of Saskatchewan Augusta, Georgia 260 240Potash Corporation of Saskatchewan Geismar, Louisiana 171 167Potash Corporation of Saskatchewan Lima, Ohio 191 184Rentech Inc. E. Dubuque, Illinois 61 54

Total United States 3,183 2,958

Total Canada and United States 5,119 4,815

(1) IFDC includes CRU production capacity.Source: IFDC Worldwide Urea Capacity Listing by Plant, June 2011.

Blue, Johnson & Associates Inc., Nitrogen Profiles 2010.



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2011 Granular Ammonium Phosphates Plant(1)

Capacities and Locations(000 metric nutrient tonnes per year)

IFDC

Company Site Capacity

Canada Agrium Inc. Redwater, Alberta 345

Total Canada 345 United States

Agrium US Inc. Conda, Idaho (DAP/MAP) 19CF Industries, Inc. Plant City, Florida (DAP) 95J.R. Simplot Company Pocatello, Idaho 191J.R. Simplot Company Rock Springs, Wyoming 186Mississippi Phosphates Corp. Pascagoula, Mississippi (DAP) 362Mosaic Company Bartow, Florida (DAP) 953Mosaic Company Tampa, Florida (DAP) 780Mosaic Company Faustina, Louisiana (DAP) 826Mosaic Company New Wales, Florida (DAP) 1678Potash Corporation of Saskatchewan Aurora, North Carolina (DAP) 57Potash Corporation of Saskatchewan White Springs, Florida (DAP) 32

Total United States 7255

Total Canada and United States 7600

(1) Capacities figures are on a P2O5 basis.Source: IFDC Worldwide DAP & MAP Capacity Listing by Plant, June 2011.



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2011 Muriate o Potash Capacities and Locations(000 metric nutrient tonnes per year)

Company Site Capacity

Canada Agrium Inc. Vanscoy, Saskatchewan 1,230Mosaic Company Belle Plaine, Saskatchewan 1,680Mosaic Company Colonsay, Saskatchewan 1,080Mosaic Company Esterhazy, Saskatchewan 2,400Potash Corporation of Saskatchewan Allan, Saskatchewan 1,131Potash Corporation of Saskatchewan Cory, Saskatchewan 817Potash Corporation of Saskatchewan Lanigan, Saskatchewan 2,297Potash Corporation of Saskatchewan Patience Lake, Saskatchewan 620Potash Corporation of Saskatchewan Penobsquis (Sussex), New Brunswick 480Potash Corporation of Saskatchewan Rocanville, Saskatchewan 1,826

Total Canada 13,561 United States

Intrepid Potash Carlsbad, New Mexico (East) 127Intrepid Potash Lea County, New Mexico (West) 211Intrepid Potash Moab, Utah 60Intrepid Potash Wendover, Utah 38Mosaic Company Carlsbad, New Mexico 223Mosaic Company Hersey, Michigan 38

Total United States 698

Total Canada and United States 14,258

Source: Annual Company Reports.



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Retail

Proft From Our Experience


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Our Retail division is the largest direct-to-grower agricultural retail operation in North America and generated nearly $7 0-billion innet sales in FY2010, primarily rom seed, crop protection and ertilizer products Agrium operates a network o 840 retail centers inthe United States, 78 retail centers in Canada and 52 in South America Additionally, in late 2010, Agrium entered the Australia retailmarket with the acquisition o Landmark, with over 200 company operated retail locations and over 140 additional retail ranchise andwholesale customer locations Agriums Retail operations o er armers a complete range o seed, liquid and dry ertilizer products,along with primary crop protection services including herbicides, insecticides, ungicides and various related services

Agrium Retail Products (for fiscal year 2010)

Crop Nutrientsn Net sales o over $3 0-billionn Gross pro it o $541-millionn Purchasing advantages rom our economies o scalen Our integrated ertilizer services provide customers

with expert advice and application services

Crop Protection Productsn Net sales o $2 7-billionn Gross pro it o $833 millionn Purchasing advantages rom our economies o scale

Seed and Other Servicesn Seed and Other Services net sales totalled $1 3-billionn Gross pro it o $377-millionn Seed and Other Services sales increased by over 25 percent rom previous yearn Rapidly growing seed and private label seed businessesn Full service customer appreciation

United States CanadaFarm Centers 582 65Satellites 209 6

Terminals 36 -

Dist Centers 10 7Plants 3 -Total 840 78

In FY2010, Agriums Retail operations in the United States, Crop Production Services (CPS), generated net sales o $7 0-billion in2010 Agriums Retail branches are sta ed with trained, pro essional employees committed to providing their growers with soundagronomic advice, seed that is selected rom the best germ plasm pools in the world, and other crop inputs

CPS Canada locations are principally located in Alberta and Saskatchewan

43%

18%

39%

(1) Please note a listing of Agriums South American Retail assets is on page 10.

2010 Net Sales

Agrium Retail: Best in Class

Crop Production Services (CPS)

(March 31, 2011)


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* Satellites** TerminalsDC Distribution CenterP Plants

iIllinoiscontinued

OneidaParisPaxtonPontiacQuincyQuincy**Raleigh WarehouseRichmondSauneminSciota*Shabbona*ShawneetownSheldonSidneySteelevilleStewardStrawn ViolaWalsh*WenonaWhite Hall

Indiana(49 locations)

Amboy Arcadia AtticaBoonvilleBoston*BrimfieldBrookvilleChalmersCharlottesvilleClarks HillCollege CornerDanaDecker

DelphiDeputy*Fairmount*FairmountFranklinFultonGreensburgHatfield

iIndianacontinued

HomerJasperLafayetteLebanon (2 locations)Liberty**Monon**MooresvilleOaktown*Odon*OtwellPatokaPeruPoseyvillePrincetonRoachdale**RushvilleScottsburgSelma*ShelburnStraughnSwitz CityTerre Haute DCW. LebanonWarrenWashingtonWheatland*Williamaburg

Iowa (44 locations)

Anthon* AtalissaBattle Creek BooneBrayton*BredaCoin*

CorningCrestonDanburyDyersvilleEarlville*EdgewoodGarnavilloGibson

iIowa continued

Hancock Holy Cross*HopkintonHutchins**Ida GroveIndependence*IrvingtonKeswick Lowden*LuverneManchester*MediapolisMingoMonticelloMovilleNevada*North English*OdeboltOgden*OskaloosaPrestonReinbeck Sac City*Union*Wall LakeWhitingWinthropWorthingtonWyoming

k

Kansas (41 locations)

BeloitBelpreBurrton*

CimarronClay CenterCollyer*Copeland(2 locations)Courtland*Galva*Garden CityDCGarden City

k Kansas continued

Gaylord*GoddardGoddard*Goodland(2 locations)Goodland (East)*Grainfield*Hill CityHoxieHunterJetmoreKinsleyLeotiLittle River*Lyons*MahaskaMontezuma*Morganville*OakleyOberlinPlainsPratt*RepublicScott CityScott City**Smith CenterSublette*WakeeneyWaterville

Kentucky (37 locations)

AldenvilleCadizCalhounCampbellsvilleClarksonClay

CynthianaElktonErkonFancy FarmFeltyFranklinGlendaleHardin

k Kentucky continued

HendersonHodgenvilleHorse CaveLebanonLexingtonMadisonvilleMayfieldMorganfieldMurray**Ownesboro(2 locations)PembrokePooleRussellville(2 locations)SacramentoSchochohSedaliaShelbyvilleSlaughters*UptonUticaWaverly

l

Louisiana (19 locations)

Bonita*BoyceBunkie*DelhiEltonJonesville*Lake ProvidenceLoreauville*Mer RougeNew RoadsNew Roads*(2 locations)

Opelousas*TallulahThibodaux Vick* Ville Platte*Whiteville*Wisner


(March 31, 2011)


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mMaine (2 locations)

LewistonMapleton

Maryland(8 locations)

Boonsboro*CentrevilleDentonEast New MarketGirdletreeDCMassey*Pocomoke CityWorton

Massachusetts(2 location)

South DeerfieldSterling

Michigan (25 locations)

Bear LakeBenton HarborBlissfield*Blissfield**Blissfield BreckenridgeBrown CityHendersonLinwoodMelvinMendonMorenciMungerNottawaOwendalePinconning*

Saginaw Terminal**SalineSanduskySpartaSt JohnsSunfield**DCSunfieldUblyWoodbury

mMinnesota (27 locations)

AdaBattle LakeBig LakeDasselEast Chain (Fairmont)Hallock Hallock*HarmonyKerkhovenLakefieldMansfield (Alden)Middle River*MoraPerham*Perham (2 locations)PipestonePlainviewRaymond*Red Lake FallsSargeantSauk CentreSlaytonStephen*Wadena (2 locations)Withrop

Mississippi(21 locations)

Anquilla*BatesvilleBenoit*Benton*Bolton*BoyleClarksdaleGreenvillePGreenwood

Grenada*Hollandale*Holly BluffHolly Springs*HoustonIndianola*LelandMacon*New Albany*Rolling Fork

mMississippi continued

Rolling Fork**Tunica

Missouri(23 locations)

Bowling Green(2 locations) Cardwell*CardwellCaruthersville**ClarenceCooterEssex*HarrisonvilleHornersville*LaPlataMalden*Marston**PalmyraParisParma*PerryPortagevilleSaint Louis*SenathSikestonWestboroWhite Oak*

Montana(6 locations) BelgradeBillings BillingsPFairviewGlasgowGreat Falls

nNebraska (12 locations)

Ashland*BeatriceBeemerBridgeportChesterImperial

nNebraska continued

JohnsonKearneyLaurelMcCook South Sioux CityThurston

Nevada (2 locations)

HendersonReno

New Jersey(2 locations)

JutlandMalaga

New Mexico (9 locations)

Artesia* Artesia (2 locations)Del CityHatch*PortalesSocorro

Vado Vado*

New York (10 locations)

Amenia AvonCohoctonFancherFloridaMiltonMt. Morris*

Nelliston*Oswego**Sodus

North Carolina(49 locations)

Albermarle (Millingport) AlbertsonBaileyBelgrade

nNorth Carolina continued

BelhavenBrown SummittBunnClinton*ClintonConwayCreswellElizabeth CityEnfieldErwinFairfieldFairmont*Faro/Fremont*Four OaksGreenvilleHendersonvilleHertford*JeffersonLaurinburgLumberton*LumbertonMonroe(2 locations)NashvilleNewlandNorwoodPantego*PrincetonRed Springs*Rocky MountSalemburgSanfordShawboroShelbySnow Hill*Snow HillStatesville (Harmony)Sophia

Tarboro DCTrenton Vanceboro*WashingtonWilson**Wilson Yadkinville


(March 31, 2011)


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vVirginia continued

Heathsville*HopewellIvorMelfaMilford*Mt. Holly*Prince George**Red HouseSealstonSouth HillWinchesterWylliesburg

wWashington(25 locations)

Almira* AuburnConnellCoulee CityDavenportEndicottHarringtonHarrington*Mansfield*Moses LakeOthelloPasco (2 locations)Plymouth

wWashingtoncontinued

Plymouth**PomeroyPrescott*QuincyReardanRosaliaSt. JohnToppenishWaitsburg*Walla WallaWaterville\

wWisconsin (6 locations)

DeForestGalesvilleJanesvillePlainsfield*(2 locations)Plainfield


(March 31, 2011)



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* Satellites** TerminalsDC Distribution CenterP Plants(1) All DC locations are former legacy UAP locations.

aAlberta (39 locations)BentleyBow IslandCalgary DCCamroseCarselandCastorClaresholmCoaldaleCrossfieldCzar

DayslandDelburneDidsburyEagleshamFalherForemostGrimshawHigh RiverLacombeLethbridge

aAlberta continuedMagrathManningMilk River*NantonPenholdPicture ButtePonokaRimbeyStettlerTaber

Taber*TorringtonTrouchu*

Valleyview VikingWarnerWelling*WetaskiwinWorsley

bBritish Columbia (1 location)LangleyDC

m

Manitoba(4 locations)Oak BluffDCRoblinRussellSwan River

o

Ontario(2 location)CambridgeDCDorchesterDC

qQuebec(1 location)Coteau du LacDC

s

Saskatchewan(31 locations)BalcarresBiggarBredenburyCanora

CuparGlaslynKamsack KinistinoKiplingLanghamLanigan*Leask LloydminsterLumsden

sSaskatchewancontinuedMelvilleMoose JawMoosominNorth BattlefordOslerPrince AlbertReginaRegina*Regina DCRhein

RocanvilleSaskatoonShellbrook SpiritwoodWakawWatrous Yorkton

Crop Production Services Canada (CPSC) (1)

(March 31, 2011)


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Crop Production Services Canada (CPSC)

North America Retail Locations


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United States Retail Companies - Top 15(by Total Sales)

%# % Crop % %

# Retail HQ States Fertilizer Protection Seed CustomRank Company outlets Type State Served Sales Sales Sales App.

1 Agrium Retail 800 Dealership CO 45 47% 35% 15% 3%2 Growmark 670 Cooperative IL 31 61% 16% 19% 4%3 Helena Chemical 319 Dealership TN 48 36% 42% 19% 3%4 Wilbur-Ellis 146 Dealership CA 21 42% 48% 5% 5%5 Simplot Retail 115 Dealership ID 17 47% 46% 4% 3%6 South. States Coop. 217 Cooperative VA 10 59% 20% 17% 4%7 Jimmy Sanders 55 Dealership MS 6 31% 36% 30% 3%8 MFA 134 Cooperative MO 4 57% 19% 19% 5%9 Tenn. Farmers Coop. 163 Cooperative TN 6 61% 18% 18% 3%

10 Harvest Land Coop 60 Cooperative IN 2 50% 34% 15% 1%11 Co-Alliance 28 Cooperative IN 3 61% 19% 14% 6%12 Centray Valley Ag 43 Cooperative NE 1 40% 40% 15% 5%13 So. Dakota Wheat Growers 39 Cooperative SD 2 50% 21% 22% 7%14 Aurora Cooperative 24 Cooperative NE 2 45% 35% 14% 6%15 Cargill 15 Dealership MN 5 64% 18% 9% 9%

Source: CROP LIFE Magazines Annual Top 100 Retailers in the United States, December 2009.

U.S. Industry Participants Production and Distribution Locations


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Agroservicios Pampeanos(September 2010) Argentina Chile Uruguay

Farm Centers 42 0 2Chemical Formulation Plant 1 0 0Fertilizer Plant 1 0 0Satellites 3 0 0Chemical Storage Warehouse 1 2 0Total 48 2 2

Argentina(48 facilities, 4 offices in Argentina)

Chile (2 facilities; 1 Head Office)

Uruguay(2 facilities)

Agroservicios Pampeanos 52 acilities in South America

* Satellites

b

Buenos AiresProv.(24 locations) Alberdi AmericaBalcarceBolivarColonia HinojoColonel SurezCucha CuchaEl ArbolitoFrenchGardeyGeneral VillegasJunn (Central Division Office)Lincoln

Martinez(Headquarter Office)MechitaO-Higgins

b

Buenos AiresProv.continuedOlavarriaFertilizer PlantPieresSaltoSan Antonio de ArecoTandil(South Division Office)Tres Arroyos30 de AgostoTrenque Lauquen*

c

Cordoba Prov.(11 locations)

La CarlotaCnel. Baigorria

c

Cordoba Prov.continued

Colonia Bismark General RocaGeneral CabreraJesus MariaLaboulayeLaguna LargaMonte Buey*Rio Cuarto* Villa Maria

e

Entre Rios Prov.(4 locations)

GualeguayParana

e

Entre Rios Prov.continued

Victoria Villaguay

m

Mendoza Prov.(1 location)Cuyo

p

La Pampa Prov.(1 location)General Pico

s

Salta Prov.(1 location)

Las Lajitas

Santa Fe Prov.(10 locations)La CaliforniaCasildaChapuyCol Casilda(ChemicalWarehouse)Casilda (Chemical FormulationPlant)GalvezPeyranoRafaelaRosario(North Division Office)San Genaro

s

Santiago de Chile(Head Office)

s

La Serena

t

Temuco

d

Dolores

y

Young

South America Retail Locations


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Agroservicios Pampeanos (ASP)

South America Retail Locations


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Landmark Retail Locations

nNew SouthWales (69 locations) Ardlethan Ariah Park ArmidaleBarrabaBathurstBoggabriBombalaBourkeBraidwood

Broken HillCobarCoomaCoonambleCootamundraCowraCrookwellCroppa Creek DelegateDeniliquinDubboDunedooFinleyForbesGlen InnesGoulburnGriffithGuyraGunnedah (2 locations)HayHillstonHolbrook InverellLavingtonLockhartManillaMerriwaMudgeeMoree

Moss Vale

nNew SouthWales continuedMungindiNarrabri (2 locations)NarranderaNarromineNeminghaNynganOrangeParkesQuirindi

RutherfordSconeSpring RidgeSydneyTamworthTemoraWagga WaggaWalchaWalgettWalla WallaWarialdaWarren (2 locations)Wee Waa (2 locations)West WyalongUrana

Yass Young

NorthernTerritory (3 locations)

Alice SpringsKatherinePalmerston

qQueensland (68 locations) AyrBallandeanBiloelaBlackallBowen (3 locations)BundabergCalen - KolijoCharlevilleCharters TowersChinchilla

ClaredaleClermontCloncurryColonsayCunnamullaDalbyEmeraldGatton (5 locations)GiruGoomborianGoondiwindi GympieHome HillHughendenInjuneJapoonvaleJondaryanKoumalaLaidleyLongreachMackay (4 locations)MareebaMarianMeandarraMitchellMundubberaNobbyOakey (2 locations)PittsworthProserpineQuilpie

qQueensland continuedRichmondRockhamptonRomaStanthorpeSt GeorgeTamboTaroomToowoombaTownsville(2 locations)Tully(2 locations)

WallavilleWandoanWintonWowan

Yandina

s

South Australia (61 locations)

ArthurtonBalaklavaBerriBordertownBurraButeCavanCedunaClare (2 locations)CleveCowellCumminsEudundaGawlerJamestown (3 locations)KadinaKapunda (2 locations)KaroondaKeithKimba

sSouth Australia continued

Kingscote(2 locations)KingstonLamerooLock LoxtonLucindaleMcLaren ValeMelroseMeningieMillicent(2 locations)

MinlatonMt CompassMt GambierMt Pleasant (2 locations)Murray BridgeNangilocNaracoorteOrrorooPadthawayPenolaPeterboroughPinnarooPt AugustaPt LincolnRenmark RivertonRobinvaleSnowtownStrathalbynStreaky BayTintinaraTumby BayWarookaWudinna


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tTasmania (3 locations)LongfordSmithton (2 locations)

v

Victoria (52 locations) Alexandra(2 locations) Ararat (2 locations)Bairnsdale

BallaratBannockburnBenallaBerriwillock CastertonCobdenCobramColacDonaldEchucaEpsonEuroaFosterGeelongHamiltonHeathcoteHorshamKanivaKerangKorumburraKynetonLeongathaLindenowManangatangMilduraMortlakeOuyenPoowongSale

Shepparton

vVictoria continuedSkiptonSt ArnaudStawellSwan HillTimboonTrafalgarTraralgonWandin North(2 locations)WangarattaWarracknabeal

WarragulWarrnamboolWodongaWonthaggi

Yarram Yea

w

WesternAustralia 84 locations)

Albany(3 locations)BeaconBellevueBoddingtonBoyup Brook BroomeBruce Rock Bunbury(7 locations)BusseltonCarnamahCarnarvonCoorowCorrigin(2 locations)DalwallinuDandaraganDarkanDumbleyungEast Perth (2 locations)

wWesternAustralia continued

Esperance (2 locations)Frankland RiverGeraldtonGinginGnowangerupHarveyHydenJerramungupKalannie

Katanning(3 locations)Kellerberrin(3 locations)KojonupLake GraceLake KingManjimupMargaret RiverMerredinMidvale(5 locations)MingenewMooraMorawaMount BarkerMukinbudinMullewaMunglinupNarembeenNarrogin(2 locations)NorthamNorthamptonPerenjoriPingelly(2 locations)PingrupQuairadingRavensthorpeSouthern CrossTambellupThree SpringsWaginWaroona

wWesternAustralia continuedWongan HillsWyalkatchem(2 locations)

York (2 locations)


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Australia

IndonesiaMalaysia

New Zealand

Landmark Corporation

Joint Venture

Franchises

Merch Partner



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AdvancedTechnologies

Smarter Ways to Grow


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Agrium Advanced Technologies is the leading manu acturer and marketer o controlled-release ertilizers and micronutrients inthe agricultural, pro essional tur grass, horticulture, and consumer lawn and garden markets

Agrium Advanced Technologies has 4 business areas that ocus on maximizing opportunities to reach customers in all segments,connect market needs with uture technology development and grow business in North America and global markets

The our areas o ocus are Agricultural Technologies, Tur & Ornamental Technologies, Direct Solutions Distribution, andInternational

Slow-Release FertilizerSlow-Release Fertilizer

Controlled Release Slow Release Micronutrients Plant ProtectionDuration CR BCMU AMP Precise

ESN Nutralene EZ20

Nu-Gro Nitro orm Broadman20

Nu-Spec XCU Nubor 10

Polyon Zinc Gro

Smart Nutrition

Spread it and Forget it

Agrium Advanced Technologies: Embracing the Future

Product Categories


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Product Innovation is a key priority or Agrium Advanced Technologies AATs Research Team provides:

n New product, process and application developmentn Scale-up and commercializationn Optimization o current productsn Investigate emerging technologiesn Development o intellectual property or AAT

AATs Agronomy Team provides:

n Products ounded on sound agronomic science or predictable per ormance and value to the customern Products backed by years o industry-leading ield testing by top soil scientistsn Recognized experts in slow and controlled-release ertilizer productsn Quality customer education to help properly position our products

AATs Products Provide:

n Improved productivityn Improved customer pro itn More convenient application timing and methodsn Environmental bene its

Agrium Advanced Technologies businesses:

Agrium Advanced Technologies conducts business in our distinct areas Agriculture Technologies provides a return to the growerthrough increased yield and quality by maximizing nutrient e iciency, and reducing nitrogen loss to the environment, protecting theair and water Tur & Ornamental Technologies o ers environmental, economic, and per ormance advantages to tur & ornamentalcustomers through the use o slow and controlled release ertilizers, micronutrient products, and polymer coated plant protectionproducts Direct Solutions Distribution is ocused on leading the industry in distributing environmentally sound and high per ormanceertilizer, seed and plant protection products or pro essional tur managers and ornamental growers AAT International distributesertilizer products around the globe, segmented across agriculture and pro essional through select distribution partners, providingblended and bagged ertilizers containing proprietary ertilizer technologies

Agricultural Technologies

Tur andOrnamental

Technologies

Direct SolutionsDistribution

AAT International

n Controlled ReleaseNitrogen Products

n

Micronutrient Products

n Slow and ControlledRelease Fertilizers

n

Reacted Urea Productsn Micronutrient Products

n North America

n Turf and Ornamental

Retail

n Expanding outsideNorth America

n

Strategic DistributionPartners

Agrium Advanced Technologies - Product Innovation


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Production Facility

Product Innovation

Regional O ice

Head O ice

ESN Storage Facility

Fairbury

Delta Winnipeg

West Bend Glade

Pella

UllenTolley

Burns Harbor GreenvilleWashingtonCourthouse

Springfield

Atwater

Shawano

Agrium Advanced Technologies Production and Distribution Locations


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IndustryParticipants


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Agrotain International L.L.C.n Subsidiary o Koch Agronomic Services Productsn Website address: www agrotain com N Stabilizers n Headquarters: St Louis, Missouri n Agrotain, Agrotain Plus, Super N Concentraten Facilities located in: North America (Urease Inhibitors + Nitri ication Inhibitors) n HYDREXX (Urease Inhibitor + Nitri ication Inhibitor) Stabilized Nitrogen Fertilizers n UMAXX n UFLEXX n Super U

Chisso Asahi Fertilizer Company Ltd.

n Private Company Productsn Website address: www chisso co jp/english U.S. Market (Primarily through Helena Chemical Co )n Facilities located in: Japan n Nutricote (PCF) n CaliberCote (PCU) n UBER (CDU) Japanese Market: n Phoska Line (CDU) n Long, Ecolong, Hi-Control, LP Coat (PCF)

Hai a Chemicals Ltd.

n

Private Company, owned by Trans Resources Inc Productsn Website address: www hai achem com Coated Productsn Headquarters: Hai a Bay, Israel n Multicote (PCU and PC - NPK)n Facilities located in: Israel and France n Cote N (PCU)

n Poly-Feed n Multi-K Urea Reaction n Hi-Green (MU-based NPK)

Israel Chemicals Ltd.

n Public company, traded on the TASE under the ticker ICL Productsn Website address: www icl-group com n Calcium phosphate (animal eed)n Headquarters: Tel-Aviv, Israel n Granular ertilizers (GNP, GNPK, GPK)n Facilities located in: Israel, Europe, North and n Phosphate rock and ertilizers

South America, and China n Phosphoric acidn FY2010 EBITDA: $1,572 1-million n Potashn Divisions: Fertilizers, Industrial Products, n Soluble ertilizers

Per ormance Products n Coated productsn Recently acquired the Scotts Miracle-Gro Company n Sylvinite

global pro essional business

Source: Company public disclosure.

Industry Participants - Advanced Technologies


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Lebanon Seaboard Corporationn Private Company Productsn Website address: www lebanontur com Urea Reactionn Headquarters: Lebanon, Pennsylvania n Meth-Ex 40 (methylene urea used in brand name productsn Facilities located in: North America MESA and EXPO) Coated Products n Poly-X Pro (purchased PCSCU) Brand Name Blended Products n Country Club, Lebanon Pro, IsoTec, Par Ex, Proscape,

Greenskeeper Planting Products n Woodace Tablets

Sadepan Chimica S.r.l

n Private Company (division o the Saviola Group) Productsn Website address: n Sazolene Products (liquid and granular methylene urea products)

www grupposaviola com/en/sadepanchimica-srl-en n Sir lor N38 and Sir lor Plus (Granular urea orm)n Headquarters: Mantova, Italyn Facilities located in: Italy and Belgium

Tur Care Supply Corporation

n Private Company (owned by Platinum Equity) Productsn

Website address: www tur caresupply com Marketed Products:n Facilities located in: United States n Growstar Line: line o tur -related blended and homogenousn Headquarters: Brunswick, Ohio products including Palm and Tropical Fertilizer; Polymer Coated

Sul ur Coated Urea; Pro essional Tur Fertilizer; Sul ur CoatedSul ate o Potash with Iron and Manganese; Weed and Feed

Private Label Production: n Poly-Plus (PCSCU or JDL / Lesco)

(1) Fiscal year end September 30.Source: Company public disclosure

Industry Participants - Advanced Technologies


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Annual Capacity (000 metric nutrient tonnes per year)(Currency figures are in US$ millions, except where noted) N P K

Caribbean Nitrogen Company Ltd. 1,066 - -

n Private Companyn Headquarters: Point Lisas, Trinidadn Facilities located in: Trinidad

Chemical and Mining Company o Chile Inc. (1) - - 1,162

n Public company, traded on NYSE, ticker symbol: SQMn FY2010 EBITDA: $663 5n Website address: www sqm cln Headquarters: Santiago, Chilen Facilities located in: Chile, United States, Mexico, Belgium, Netherlands,

Turkey, UAE, France

Copebras Ltda - 280 -

n Private Company, 73 percent controlling stake owned by Anglo American plcn Website address: www angloamerican comn Headquarters: Bela Vista, Braziln Facilities located in: Brazil

Petrobras (1) 590 119 -

n Public company, traded on BASE, ticker symbol: PESA n FY2010 EBITDA: $716 7n Website address: www petrobrasenergia comn Headquarters: Buenos Aires, Argentinan Facilities located in: Argentina

Vale S.A. 515 1,005 (2) 510

n Public company, traded on BOVESPA, ticker symbol: VALE5n Primarily a nickel production company; recently acquired Bunge Ltd

ertilizer operations in Braziln FY2010 EBITDA: $28,066 7n Website address: www vale comn Headquarters: Rio de Janeiro, Braziln Fertilizer acilities located in: Brazil, Canada, Peru, Argentina and Mozambique

(1) The major stock exchange is listed, some companies are listed on multiple stock exchanges.(2) Vales phosphate annual capacity includes their interest in Bunge (100%).Source: Company Websites

www.CapitalIQ.com, a division of Standard & Poors.IFDC Worldwide Ammonia Capacity Listing by Plant, June 2011.IFDC Worldwide Phosphoric Acid Capacity Listing by Plant, June 2011.IFDC Worldwide Potash Capacity Listing by Plant, June 2011.

Industry Participants - South America


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Annual Capacity (000 metric nutrient tonnes per year)(Currency figures are in US$ millions, except where noted)

N P K

China Blue Chemical Ltd. (CNOOC) (1) 861 408 (2) -

n Public Company, traded on SEHK, ticker symbol: 3983n FY2010 EBITDA: $361 7n Website address: www chinabluechem com cnn Headquarters: Dong ang city, Hainan Province, Chinan Facilities located in: China and Inner Mongolia

Incitec Pivot Ltd. (1) 402 507 -

n Public Company, traded on ASX, ticker symbol: IPLn FY2010 EBITDA: $679 8n Website address: www incitecpivot com aun Headquarters: Southbank, Australian Facilities located in: United States, Canada, Mexico and Australia

Indian Farmers Fertiliser Co-operative Ltd. (IFFCO) 1,977 875 -

n Private Co-operativen Website address: www i co nic inn Headquarters: New Delhi, Indian Facilities located in: India

National Fertilizers Limited (NFL) (1) 1,568 - -

n Public Company, traded on BSE, ticker symbol: 523630n FY2010 EBITDA: $74 8n Website address: www national ertilizers comn Headquarters: Noida, Indian Facilities located in: India

Qinghai Salt Lake Potash Co. Ltd. - - 1,913

n Pubic Company, traded on SZSE, ticker symbol: 000792n FY2010 EBITDA: $365 6n Website address: www saltlakepotash comn Headquarters: Geermu, Chinan Facilities located in: China

SINOFERT Holdings Ltd.(1)

820(3)

- 354(4)

n Public Company, traded on SEHK, ticker symbol: 0297n FY2010 EBITDA: $54 3n Website address: www sino ert com/enn Headquarters: Wanchai, Hong Kongn Facilities located in: China

(1) The major stock exchanges is listed, some are listed on multiple exchanges.(2) China Blue Chemicals annual phosphate capacity includes their interest in Hubei Mine (83.17%).(3) Sinofert Holdings Ltd. annual nitrogen capacity only includes 100% owned capacity.(4) Sinoferts potash capacity includes their interest in Qinghai Salt Lake Potash Co. Ltd. (18.49%).

Source: Company Websites.www.CapitalIQ.com, a division of Standard & Poors.IFDC Worldwide Ammonia Capacities, June 2011; IFDC Worldwide Phosphoric Acid Capacities, June 2011; IFDC Worldwide Potash Capacities, June 2011.

Industry Participants - Asia and Parts o the Paci ic Rim


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N P K

Ammophos OAO (subsidiary o FosAgro Holding) - 1,224 -n Private Companyn FY2010 EBITDA: $280 5n Website address: www ammo os run Headquarters Cherepovets, Russian Federationn Plants located in: Russia

Rue PA Belaruskali - - 5,465n Private Companyn Website address: www kali byn Headquarters: Soligorsk, Belarusn

Facilities located in: BelarusK+S Aktiengesellscha t (1) - - 4,250n Public company, traded on DB, ticker symbol: SDFn FY2010 EBITDA: $1,315 6n Website address: www k-plus-s comn Headquarters: Kassel, Germanyn Plants located in: Germany, Poland, Czech Republic, Austria, Great Britain,

Netherlands, Belgium, France, Italy, Switzerland, Spain, Portugal, Greece,Canada, USA, Mexico, Brazil, Chile, Argentina, South A rica, Singapore

Uralkali JSC - - 3,452n Public company, traded on RTS, ticker symbol: URKA n FY2010 EBITDA: $803 3n Website address: www uralkali comn Headquarters: Berezniki, Russian Plants located in: Russia

Yara International ASA (1) 6,724 (2) 450 100n Public company, traded on OSE, ticker symbol: YARn FY2010 EBITDA: $1,434 1n Website address: www yara comn Headquarters: Oslo, Norwayn Plants located in: Norway, Sweden, France, Germany, the Netherlands,

Italy, Canada, Libya, Belgium, Finland, Trinidad and Brazil

Zaklady Azotowe Pulaway S.A. 973 - -n Public company, traded on WSE, ticker symbol: ZAPn FY2010 EBITDA: $26 1n Website address: www azoty pulawy pln Headquarters: Pulawy, Polandn Plants located in: Poland

(1) The major stock exchange is listed, some are listed on multiple exchanges.(2) Yaras annual nitrogen capacity includes their interest in Le Harve (47.85%), Tringen (49%), QAFCO (25%), Burrup Holdings (35%), GrowHow UK (50%), Rossosh (37.69%) and Lifeco Source: Company websites

www.CapitalIQ.com, a division of Standard and Poors.IFDC Worldwide Ammonia Capacity Listing by Plant, June 2011.IFDC Worldwide Phosphoric Acid Capacity Listing by Plant, June 2011.IFDC Worldwide Potash Capacity Listing by Plant, June 2011.

Industry Participants - Europe


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N P K

Arab Potash Co. Ltd. (APC) - - 1,530 (1)

n Public company, traded on ASE, ticker symbol: APOT n FY2010 EBITDA: $333 8n Website address: www arabpotash comn Headquarters: Amman, Jordann Facilities located in: Jordan

Orascom Construction Industries 1,312 - -

n Public company traded on CASE, ticker symbol: OCICn FY2010 EBITDA: $1,040 8n Website address: www orascomci comn Headquarters: Cairo, Egyptn Facilities located in: Egypt, Netherlands, Algeria

O ice Chri ien des Phosphates (Groupe OCP) - 4,128 (2) -

n Private Company n Website address: www ocpgroup ma/english/ n Headquarters: Casablanca, Morocco n Facilities located in: Morocco

Qatar Fertilizer Company (QAFCO) 1,597 - -

n Private Company n Website address: www qa co com n Headquarters: Mesaieed Industrial City, Qatar n Facilities located in: Qatar

Saudi Basic Industries Corporation (SABIC) 1,206 (3) - -

n Public company, traded on the Tadawul, ticker symbol:2010n FY2010 EBITDA: $12,933 0n Website address: www sabic comn Headquarters: Riyadh, Saudi Arabian Facilities located in: Saudi Arabia

(1) Arab Potash Co.s capacity includes their subsidiary Kemira Arab Potash Company Ltd. (KEMAPCO).(2) OCPs annual capacity includes their interests in Bunge-Maroc (50%), Imacid (50%), Pakistan Maroc Phosphore (50%), Prayon S.A. (50%).(3) SABICs annual capacity includes their interests in Al-Jubail Fertilizers Company (50%), National Chemical Fertilizer Company (71.50%), Gulf Petrochemical Industries Co. (33.33%

and Saudi Arabic Fertilizer Company (42.99%).Source: Company Websites.

www.CapitalIQ.com, a division of Standard & Poors.IFDC Worldwide Ammonia Capacities, June 2011.IFDC Worldwide Phosphoric Acid Capacities, June 2011.IFDC Worldwide Potash Capacities, June 2011.

Industry Participants - A rica and the Middle East


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Annual Capacity (000 metric nutrient tonnes per year)(Currency figures in US$ millions, except where noted) N P K

Potash Corporation o Saskatchewan (1)(2) 3,041 2,447 9,223 (3)

n Public company, traded on NYSE and TSX, ticker symbol: POTn FY2010 EBITDA: $2,711 7n Website address: www potashcorp comn Headquarters: Saskatoon, Saskatchewan, Canadan Plants located in: Canada, United States, Trinidad

Yara International ASA (1) 6,724 (4) 455 100n Public company, traded on OSE, ticker symbol: YARn FY2010 EBITDA: $1,431 1n Website address: www yara comn Headquarters: Oslo, Norwayn Plants located in: Canada, Trinidad, Belgium, France, Germany, Italy, Netherlands,

Norway, UK, Finland, South A rica, and Brazil

Koch Industries, Inc. 3,237 (5) - -n Private Companyn Website address: www kochind comn Headquarters: Wichita, Kansas, United Statesn Plants located in: Canada, United States and Trinidad

CF Industries Holdings Inc. (1) 5,630 (6) 957 -n Public company, traded on NYSE, ticker symbol: CFn FY2010 EBITDA: $1,483 0n Website address: www c industries comn Headquarters: Deer ield, Illinois, United Statesn Plants located in: United States, Canada, Trinidad and United Kingdom

The Mosaic Company (1) 421 4,409 5,460 (7) n Public Company, traded on NYSE, ticker symbol: MOSn FY2010 EBITDA: $1,785 2n Website address: www mosaicco comn Headquarters: Plymouth, Minnesota, United Statesn Plants located in: United States and Canada

Intrepid Potash - - 545n

Public company, traded on NYSE, ticker symbol: IPIn FY2010 EBITDA: $103 5n Website address: www intrepidpotash comn Headquarters: Denver Coloradon Plants located in: United States

(1) The major stock exchange is listed, some are listed on multiple exchanges.(2) Potash Corporation of Saskatchewans annual capacities includes their interest in Sinofert (22%), Arab Potash Ltd. (28%), Sociedad Quimica y Minera de Chile (32%) and Israel Chemicals Ltd. (3) Stated nameplate capacity includes idle capacity at their production facilities, Cory and Patience Lake, Saskatchewan.(4) Yaras annual nitrogen capacity includes their interest in Le Harve (47.85%), Tringen(49%), QAFCO (25%), Burrup Holdings (35%), Rossosh (37.69%) and Lifeco (50%).(5) Kochs annual nitrogen capacity includes their interest in Point Lisas Nitrogen Limited (50%)(6) CF Industries nitrogen capacity includes interests in GrowHow UK (50%) and Point Lisas Nitrogen Ltd. (50%) and CFs interest in Canadian Fertilizer Ltd. (66%).(7) Mosaics annual potassium capacity does not include product produced at Esterhazy and sold to Potash Corporation of Saskatchewan under a tolling agreementSource: Company websites

www.capitaliq.com, a Division of Standard and Poors.IFDC Worldwide Ammonia Capacity Listing by Plant, June 2011; IFDC Worldwide Phosphoric Acid Capacity Listing by Plant, June 2011.IFDC Worldwide Potash Capacity Listing by Plant, June 2011.

Industry Participants - North America Wholesale


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StatisticsAgricultural


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Crop Cycles: Growing Seasons or Key Global Regions Seeding Months Harvest Months

Corn

United States April-May October-NovemberS China February-April July-AugustBrazil 1st Crop October-December February-June

2nd Crop January-February June-September Argentina October-December March-JuneWestern Europe March-May September-November

Wheat

United States - Winter September-October June-AugustUnited States - Spring April-May July-SeptemberCanada - Spring May-June August-OctoberChina - Winter September-October May-June

Argentina - Winter June-August November-January Australia May-July October-December

Soybeans

United States May-June October-NovemberBrazil 1st Crop October-December March-May

2nd Crop-April-May August-September

Argentina 1st Crop November-January April-May2nd Crop December-January May-JuneCanada May-June September-November

Rice

United States April-May September-OctoberIndia May-August (Khari ) October-January

November-February (Rabi) March-MayChina April-May (single crop) August-September

March-April (double crop-early) June-JulyJune-July (double crop-late) October-November

Brazil November-December (center-south) February-MayJanuary-February (north and northeast) June-August

Source: USDA FAS.

Agricultural Statistics


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Crops: Area, Production and Stocks - United States (million bushels and million acres)

Avg.Stocks Farm

Area Area Yield Total Ending to Use Price Planted Harvested (bu/ac) Produced Use Stocks Ratio ($/bu)

Wheat (CY)

2011/12(p) 54.4 45.7 43.9 2,008 2,153 837 39% 7.502010/11(e) 53.6 47.6 46.3 2,207 2,417 862 36% 5.702009/10 59.2 49.9 44.5 2,218 2,018 976 48% 4.872008/09 63.2 55.7 44.9 2,499 2,275 657 29% 6.782007/08 60.5 51.0 40.2 2,051 2,314 306 13% 6.482006/07 57.3 46.8 38.7 1,812 2,049 456 22% 4.262005/06 57.2 50.1 42.0 2,105 2,155 571 26% 3.422004/05 59.7 50.0 43.2 2,158 2,235 540 24% 3.402003/04 62.1 53.1 44.2 2,345 2,353 546 23% 3.40

Soybeans (CY)

2011/12(p) 75.0 73.7 41.5 3,060 3,130 160 5% 13.332010/11(e) 77.4 76.6 43.5 3,329 3,280 215 7% 11.302009/10 77.5 76.4 44.0 3,359 3,361 151 4% 9.592008/09 75.7 74.7 39.7 2,967 3,047 138 5% 9.972007/08 64.7 64.1 41.7 2,677 3,056 205 7% 10.102006/07 75.5 74.6 42.7 3,188 3,073 574 19% 6.432005/06 72.0 71.3 43.0 3,063 2,873 449 16% 5.662004/05 75.2 74.0 42.2 3,124 2,986 256 9% 5.742003/04 73.4 72.5 33.9 2,454 2,525 112 4%

2011 agrium fact book v15 w links

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