Potash

COMPANY PROFILE
Potash Corporation of
Saskatchewan Inc.
REFERENCE CODE: 8CD60531-F951-43C7-88EB-052029E9C627

PUBLICATION DATE: 29 Aug 2012
www.marketline.com
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Potash Corporation of Saskatchewan Inc.
TABLE OF CONTENTS
TABLE OF CONTENTS
Company Overview..............................................................................................3
Key Facts...............................................................................................................3
Business Description...........................................................................................4
History...................................................................................................................5
Key Employees.....................................................................................................7
Key Employee Biographies..................................................................................9
Major Products and Services............................................................................15
Top Competitors.................................................................................................16
Company View.....................................................................................................17
Locations and Subsidiaries...............................................................................22
Potash Corporation of Saskatchewan Inc. Page 2

MarketLine
Company Overview
COMPANY OVERVIEW
Potash Corporation of Saskatchewan (PotashCorp) is a manufacturer and marketer of fertilizers and

related industrial and feed products. The company produces potash, phosphates and nitrogen
products. The company's phosphates products include solid and liquid fertilizers, animal feed
supplements, and purified phosphoric acid. Its nitrogen products include nitrogen fertilizers, nitrogen
feed, and industrial products that comprise of ammonia, urea, nitrogen solutions, ammonium nitrate
and nitric acid. The company operates in North and Latin America, and Europe. It is headquartered
in Saskatchewan, Canada, and employs around 2,003 people.
The company recorded revenues of $8,715 million in the fiscal year ended December 2011, an
increase of 33.3% over 2010. The company's operating profit was $4,306 million in fiscal 2011, an
increase of 65.8% over 2010. Its net profit was $3,081 million in fiscal 2011, an increase of 73.6%
over 2010.
KEY FACTS
Head Office Potash Corporation of Saskatchewan Inc.

Suite 500
122 1st Avenue South
Saskatoon
Saskatchewan S7K 7G3
CAN
Phone 1 306 933 8500
Fax 1 306 933 8877
Web Address http://www.potashcorp.com
Revenue / turnover 8,715.0
(USD Mn)
Financial Year End December
Employees 2,003
TSX Venture POT
Exchange Ticker
New York Stock POT
Exchange Ticker

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Business Description
BUSINESS DESCRIPTION
Potash Corporation of Saskatchewan (PotashCorp), is an integrated fertilizer and related industrial

and feed products company. The company produces potash, phosphates and nitrogen products.
The company primarily operates in North and Latin America, and Europe.
The company operates through three business segments: potash, phosphate and nitrogen.
PotashCorp's potash segment's operations include the mining and production of potash, which is
used as fertilizer. The company owns and operates five potash mines in Saskatchewan and one in
New Brunswick. It also holds mineral rights at the Esterhazy mine where potash is produced under
a mining and processing agreement with a third party.
The company produces potash using both conventional and solution mining methods. Through
conventional potash operations (excluding Esterhazy), the company has mined 26.148 million tons
of ore at an average grade of 22.69% potassium oxide. The potash production from all the operations
(including Esterhazy) consists of 9.343 million tons of potash with an average grade of 61.03%
potassium oxide.
PotashCorp's phosphate segment's operations include the manufacture and sale of solid and liquid
phosphate fertilizers, animal feed supplements and industrial acid, which is used in food products
and industrial processes. PotashCorp operates North Carolina facility, which is an integrated
phosphate mine and processing plant. The company also has a phosphate mine and two mineral
processing plant complexes in northern Florida and five phosphates feed plants in the US.
The company conducts phosphate operations primarily at two facilities, one a 74,787-acre facility
near Aurora, North Carolina and the other a 100,580-acre facility near White Springs in northern
Florida. The Aurora facility has a capacity to produce 1.2 million tons of phosphoric acid per year.
The Aurora facility includes a six million ton per-year mining operation, three sulfuric acid plants,
four phosphoric acid plants, four purified acid plants, a liquid fertilizer plant, four super phosphoric
acid plants, a de-fluorinated phosphate or animal feed plant, two granulation plants that produce
diammonium phosphate or mono ammonium phosphate, and four silicon tetra fluoride plants.
PotashCorp's nitrogen segment operations involve the production of nitrogen fertilizers and nitrogen
feed and industrial products, including ammonia, urea, nitrogen solutions, ammonium nitrate and
nitric acid. It has nitrogen production facilities in Georgia, Louisiana, Ohio and Trinidad.
The company operates through its subsidiaries, which include the following: Canpotex Bulk Terminals,
Chilkap Resources, Inversiones El Boldo, Inversiones El Coigue, and Inversiones El Roble among
others.

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History
HISTORY
Potash Corporation of Saskatchewan (PotashCorp) was established in 1975 as Crown.
The company later made its initial public offering in 1989, and was renamed Potash Corporation.
In 1990, PotashCorp acquired Saskterra Fertilizers from Husky Oil, whose main asset was a 40%
interest in the Allan potash mine, in which Potash Corporation already held a 60% interest. In the
following year, the company made further acquisitions with the purchase of certain assets of Florida
Favorite Fertilizer, which were based in Florida, Georgia, and Alabama.
The company entered into agreements with Horizon Potash, New Mexico Potash, Eddy Potash, and
Mississippi Chemical to act as an exclusive sales agent for potash produced by these companies
in the beginning of 1992.
In 1993, PotashCorp purchased the potash assets of Potash Company of America from Rio Algom.
These included two potash mines and mill sites, one located in Saskatchewan and the other in New
Brunswick, as well as a port facility at Saint John, New Brunswick.
The company acquired all of the outstanding shares of Texasgulf, which included a phosphate
complex in Aurora, North Carolina, animal feed plants in three states, two industrial phosphoric acid
plants, and a 50% interest in an ammonia storage terminal in Savannah, Georgia, in 1995. In the
same year, the company acquired all of the outstanding shares of White Springs Agricultural
Chemicals from Occidental Chemical. The primary assets of this acquisition were a phosphate mine
and two chemical plant complexes in Florida.
In 1996, PotashCorp purchased phosphate production facility of Arcadian, producer of nitrogen

products in the western hemisphere.
The company completed its acquisition of Arcadian in 1997.
Between 1998 and 2000, PotashCorp acquired the Potash Company of Canada, Minera Yolanda
SCM, 50% of Albright & Wilson from Rhodia, and the assets of Fertilizantes Mitsui's feed production
plant. In addition, the company added a new DFP facility at Aurora and acquired Farmland Industries'
feed phosphate operations at Joplin, Missouri, in 2000.
The company invested $130.4 million in a leading specialty fertilizer company, Sociedad Quimica y
Minera de Chile, in 2001 and 2003, the company acquired 26% of Arab Potash (APC).
In 2004, PotashCorp expanded 82,000-ton of its purified phosphoric acid plant at Aurora, North
Carolina. In the following year, the company entered into an agreement to purchase a 9.9% interest
in Sinofert, a subsidiary of Sinochem's.

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History
The company purchased an additional 10.01% of Sinochem Hong Kong Holdings Limited (Sinofert)
for $126 million in 2006. The company completed sales agreement between Canpotex and Sinofert
for shipments to China in the same year.
In 2007, PotashCorp brought back 360,000 tones of previously idled potash capacity at its Patience
Lake, SK solution mine.
The company entered into an agreement with Canpotex Limited (Canpotex), the offshore marketing
company for Saskatchewan potash producers, and Sinofert Holdings Limited (Sinofert), a leading
fertilizer enterprise in the People's Republic of China (PRC), on potash pricing, in 2008.
In 2009, PotashCorp obtained mining permit from the US Army Corps of Engineers allowing the
company Aurora, NC phosphate operation to mine reserves in excess of thirty years. It also completed
construction of a new $260 million sulfuric acid plant at the company's Aurora, NC phosphate
operation.
The company launched a new website 'PotashCorp.com' in 2010. In the same year, it purchased
an additional 3% of ICL for $422 million, raising total ownership interest to 14%.
In January 2011, PotashCorp appointed Lee Knafelc as its Vice President of Human Resources and
Administration.
Darryl Stann was appointed Vice President of Procurement, Brent Heimann was appointed President
of PCS Phosphate and PCS Nitrogen and Mark Fracchia was appointed Vice President of Safety,
Health and Environment in March 2011.
In June 2011, PotashCorp's subsidiary, Canpotex Limited signed a contract with Sinofert Holdings
Limited to supply 630,000 tons of potash.
The company's subsidiary, Canpotex Limited, signed a contract with its Indian contract customers,
Coromandel International and Tata Chemicals, to supply 670,000 tons of potash, in August 2011.
In December 2011, PotashCorp and Mosaic Potash Esterhazy Limited (Mosaic) reached an agreement
on Esterhazy Tolling Litigation, under which Mosaic to deliver the balance of the potash tons owed
to PotashCorp for the years 2011 and 2012.
The company's subsidiary, Canpotex Limited, signed a contract with Sinofert Holdings Limited to
supply 500,000 tons of potash in the second quarter of the year 2012, in March 2012.
In April 2012, PotashCorp invested $3.5 million in Trinidad Medical Laboratory. In the same month,
the company opened first phase of New Rail Facility located at Hammond, Indiana.
The company launched an enhanced website section on sustainability in July 2012.

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Key Employees
KEY EMPLOYEES
Name Job Title Board Compensation

William J Doyle President and Chief Executive Executive Board 7456718 CAD
Officer
Dallas J Howe Chairman Non Executive Board
Christopher M Burley Director Non Executive Board
John W Estey Director Non Executive Board
C Steven Hoffman Director Non Executive Board
Alice D Laberge Director Non Executive Board
Keith G Martell Director Non Executive Board
Jeffrey J McCaig Director Non Executive Board
Mary Mogford Director Non Executive Board
Elena Viyella De Paliza Director Non Executive Board
Gerald W Grandey Director Non Executive Board
Daniel Clauw Director Non Executive Board
Donald G Chynoweth Director Non Executive Board
G David Delaney Executive Vice President and Chief Senior Management 2770866 CAD
Operating Officer
Wayne R Brownlee Chief Financial Officer, Treasurer Senior Management 4440004 CAD
and Executive Vice President
Stephen F Dowdle President, PCS Sales Senior Management 2114675 CAD
Joseph A Podwika Senior Vice President, General Senior Management 1763919 CAD
Counsel and Secretary
Robert A Jaspar Senior Vice President, Information Senior Management
Technology
Michael T Hogan Senior Vice President, PCS Potash Senior Management
Brent Heimann President, PCS Phosphate and PCS Senior Management
Nitrogen
Daphne J Arnason Vice President, Internal Audit Senior Management
Denis A Sirois Vice President and Corporate Senior Management
Controller
Denita C Stann Vice President, Investor and Public Senior Management
Relations
Lee M Knafelc Vice President, Human Resources Senior Management
and Administration
Mark Fracchia Vice President, Safety, Health and Senior Management
Environment

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Key Employees
Name Job Title Board Compensation

Darryl S Stann Vice President, Procurement Senior Management

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Key Employee Biographies
KEY EMPLOYEE BIOGRAPHIES
William J Doyle
Board: Executive Board

Job Title: President and Chief Executive Officer
Since: 1987
Age: 61
Mr. Doyle has been the President and Chief Executive Officer at Potash Corporation of Saskatchewan
(PotashCorp) since 1987. He joined PotashCorp as President at PCS Sales in 1987, after a career
with International Minerals and Chemical Corporation. Mr. Doyle serves on the Boards at Canpotex
Limited, The Fertilizer Institute and International Plant Nutrition Institute, as well as the President at
the International Fertilizer Industry Association. He also serves as a Member at the Canadian Council
of Chief Executives and the C.D. Howe Institute. Mr. Doyle is a graduate of Georgetown University
in Washington DC and serves as a Member of its Board of Directors as well as a Director at the
Executives Club of Chicago and the Big Shoulders Fund.
Dallas J Howe
Board: Non Executive Board

Job Title: Chairman
Since: 2003
Age: 67
Mr. Howe has been the Chairman at PotashCorp since 2003. He is owner and Chief Executive
Officer at DSTC Ltd., a technology investment company. Mr. Howe also serves as a Director at
Advanced Data Systems Ltd., Viterra and the C.D. Howe Institute, and a Fellow of the Institute of
Corporate Directors. A Director of the PCS Crown Corporation from 1982 to 1989, he joined the
PotashCorp Board in 1991.
Christopher M Burley

Job Title: Director
Since: 2009
Age: 50
Mr. Burley has been a Director at PotashCorp since 2009. He is a Corporate Director and former
Managing Director and Vice Chairman of Energy and investment banking firm at Merrill Lynch Canada
Inc. Mr. Burley spent more than 21 years in the investment banking business. He serves as a Member

MarketLine
of the Board of Directors at Parallel Energy Trust and the United Way of Calgary. Mr. Burley is a
graduate of the Institute of Corporate Directors Education Program.
John W Estey

Job Title: Director
Since: 2003
Age: 61
Mr. Estey has been a Director at PotashCorp since 2003. He also serves as the President and Chief
Executive Officer at S&C Electric Company. Mr. Estey serves as a Director at the Executives Club
of Chicago and the Southwire Company. He also serves as a Member of the Board of Governors
at the National Electrical Manufacturers Association and a Member of the Board of Trustees at the
Adler Planetarium.
C Steven Hoffman

Job Title: Director
Since: 2008
Age: 63
Mr. Hoffman has been a Director at PotashCorp since 2008. He served as a Senior Executive at
IMC Global Inc with over 22 years of global fertilizer sales and marketing management experience,
Mr. Hoffman retired as the Senior Vice President and President of Sales and Marketing at IMC Global
upon completion of the IMC Global and Cargill Fertilizer merger, creating the Mosaic Company. He
served as the Chairman and President at the Phosphate Chemical Export Association and a former
Chairman at Canpotex.
Alice D Laberge

Job Title: Director
Since: 2003
Age: 55
Ms. Laberge has been a Director at PotashCorp since 2003. She served as the President and Chief
Executive Officer at Fincentric Corporation, a global provider of software solutions to financial
institutions. Ms. Laberge served as the Senior Vice President and Chief Financial Officer at MacMillan
Bloedel Limited. She serves as a Director at Royal Bank of Canada, Russel Metals Inc., Delta Hotels
Limited, Silverbirch Management Ltd and St. Pauls Hospital Foundation in Vancouver. She also
serves as a Member of the Board of Governors at the University of British Columbia. Ms. Laberge
also serves as the Corporate Director at Fincentric Corporation.

MarketLine
Keith G Martell

Job Title: Director
Since: 2007
Age: 49
Mr. Martell has been a Director at PotashCorp since 2007. He serves as the Chairman and Chief
Executive Officer at First Nations Bank of Canada. Mr. Martell serves as a Director at the Saskatoon
Friendship Inn and the Canadian Chamber of Commerce and serves on the Deans Advisory Council
of the University at Saskatchewans Edwards School of Business. He serves as a Trustee at Primrose
Lake Trust. He is a Chartered Accountant.
Jeffrey J McCaig

Job Title: Director
Since: 2001
Age: 60
Mr. McCaig has been a Director at PotashCorp since 2001. He also serves as the Chairman and
Chief Executive Officer at Trimac Group of Companies. Prior to that, Mr. McCaig practiced law,
specializing in corporate financing and securities. He also serves as the Chairman and Director at
Bantrel; a Director at The Standard Life Assurance Company of Canada, Orbus Pharma Inc; and a
Director and Co-Owner at the Calgary Flames Hockey Club.
Mary Mogford

Job Title: Director
Since: 2001
Age: 67
Ms. Mogford has been a Director at PotashCorp since 2001. She is a Corporate Director, former
Deputy Minister of Finance and Deputy Minister of Natural Resources for the Province of Ontario.
Ms. Mogford also serves as a Director at Nordion Inc and an honorary Member of the Boards at the
Hospital For Sick Children and Trent University. She is a Fellow of the Institute of Corporate Directors
(ICD) and an Accredited Director under the ICD/Rotman School of Business Directors Education
Program.
Elena Viyella De Paliza

Job Title: Director

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Since: 2003
Age: 57
Ms. Paliza has been a Director at PotashCorp since 2003. She also serves as the President at
Inter-Quimica, a chemicals importer and distributor, Monte Rio Power Corp and Indescorp. Formerly
Executive Vice President at FERSAN, a fertilizer bulk blender and agrochemical distributor, Ms.
Paliza served as President at the Dominican Stock Exchange, Dominican Manufacturers Association
and the National Agribusiness Board. She also serves as a Member of the Board at the Inter-American
Dialogue.
Gerald W Grandey

Job Title: Director
Since: 2011
Age: 65
Mr. Grandey has been a Director at PotashCorp since 2011. He served as the Chief Executive
Officer at Saskatoon based Cameco Corporation. Mr. Grandey serves as a Director at Canadian Oil
Sands Limited and Sandspring Resources Ltd. He also serves on the Deans Advisory Council of
the University of Saskatchewans Edwards School of Business and the Board of Governors of the
Colorado School of Mines Foundation.
Daniel Clauw

Job Title: Director
Since: 2012
Age: 61
Mr. Clauw has been a Director at PotashCorp since May 2012. He also serves as the Owner and
Chief Executive Officer at Strategie Conseil Developpement (SCD) SAS, France. Mr. Clauw served
as a Senior Executive at YARA International, most recently as Executive Vice President and Chief
Operating Officer. He holds degrees in Chemistry and Physics, and a Financial degree from IFG
Paris.
Donald G Chynoweth

Job Title: Director
Since: 2012
Age: 51

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Mr. Chynoweth has been a Director at PotashCorp since May 2012. He also serves as the Senior
Vice President at SNC Lavalin O&M. He has 30 years of management experience in business,
politics, investment and business development. Mr. Chynoweth sits on the Boards at AltaLink LP
and the Calgary Chamber of Commerce. He is a graduate of the University of Saskatchewan.
G David Delaney
Board: Senior Management

Job Title: Executive Vice President and Chief Operating Officer
Since: 2010
Age: 51
Mr. Delaney has been the Executive Vice President and Chief Operating Officer at PotashCorp since
2010. He served as President at PCS Sales. Mr. Delaney joined the company as Vice President,
Industrial Sales, PCS Sales in 1997, following its acquisition of Arcadian Corporation, where he had
been Vice President of Agricultural Sales for its eastern territory. He began his career in Allied
Chemicals' fertilizer division, which later became Arcadian, where he worked in various supervisory
roles. In addition to his work with PotashCorp, he serves as a Director at the Arab Potash Company
(APC). A graduate of Southern Illinois University, Mr. Delaney has completed the Executive
Management Program at the University of Pittsburgh.
Wayne R Brownlee

Job Title: Chief Financial Officer, Treasurer and Executive Vice President
Since: 2006
Age: 59
Mr. Brownlee has been the Chief Financial Officer, Treasurer and Executive Vice President at
PotashCorp since 2006. He served as the Senior Vice President, Treasurer and Chief Financial
Officer since 1999. Prior to that, Mr. Brownlee held the titles of Senior Vice President of Expansion
and Development and Director of Business Development with the company. Before joining Potash,
he served in the Department of Finance for the Government of Saskatchewan, including three years
as Associate Deputy Minister of the Treasury Board Division. Mr. Brownlee earned a Bachelor's
degree in Science and a Master's degree in Business Administration from the University of
Saskatchewan.
Stephen F Dowdle

Job Title: President, PCS Sales
Since: 2010
Age: 61

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Mr. Dowdle has been the President of PCS Sales at PotashCorp since 2010. He has been with the
Fertilizer Sales division at the company for 11 years, most recently as Senior Vice President. Mr.
Dowdle joined PotashCorp in 1999 as Vice President, International Fertilizer Sales, and one year
later was promoted to Vice President, Fertilizer Sales. In 2006, he was named Senior Vice President,
Fertilizer Sales, with responsibility for all domestic and international fertilizer transactions. Mr. Dowdle
is on the Board at the Canpotex Limited, Phosphate Chemicals Export Association (PhosChem),
Sinofert Holdings Ltd (Sinofert) and the International Plant Nutrition Institute. Mr. Dowdle gained
extensive international experience during 10 years as Vice President and Managing Director for
Canpotex (Singapore) Pte, and four years as Director, China Programs, for the Potash & Phosphate
Institute. He has a PhD in Agronomy and Soil Science from the University of Hawaii, and a BA in
Anthropology from Brown University.
Joseph A Podwika

Job Title: Senior Vice President, General Counsel and Secretary
Since: 2005
Age: 49
Mr. Podwika has been the Senior Vice President, General Counsel and Secretary at PotashCorp
since 2005. He joined the company in 1997 as Litigation and General Business Counsel at its
Memphis office and later became Senior Counsel to the phosphate business in Northbrook, where
he also assumed responsibility for all US legal affairs. Before joining PotashCorp, Mr. Podwika
worked in the legal department at International Paper Company in Memphis and was in private
practice with Jaeckle, Fleischmann & Mugel of Buffalo, New York. He serves as a Member of the
American and Canadian bar associations, the Association of Corporate Counsel and the US and
Canadian societies of corporate secretaries and governance professionals. Mr. Podwika earned an
English degree with highest honors at State University of New York at Buffalo and a Juris Doctorate
from Northwestern University School of Law.
Robert A Jaspar

Job Title: Senior Vice President, Information Technology
Age: 53
Mr. Jaspar serves as the Senior Vice President of Information Technology at PotashCorp. He joined
the company as an Internal Auditor in 1997, later becoming Director of Internal Audit and Vice
President of Internal Audit. Mr. Jaspar has served the Saskatchewan Institute of Chartered
Accountants in a variety of roles, including being its Representative Member of the Province of
Saskatchewans Audit Committee. He served on the Boards at the Saskatoon YMCA, Saskatoon
Family Service Bureau and the Rotary Club of Saskatoon Meewasin. Mr. Jaspar is a Chartered
Accountant.

MarketLine
Major Products and Services
MAJOR PRODUCTS AND SERVICES
Potash Corporation of Saskatchewan (the company) is an integrated fertilizer and related industrial
and feed products company. The company's key products include the following:
Products:
Potash
Phosphates:
Solid and liquid phosphate fertilizers

Animal feed supplements and industrial acid
Nitrogen:
Nitrogen fertilizers and nitrogen feed

Ammonia
Urea
Nitrogen solutions
Ammonium nitrate
Nitric acid

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Top Competitors
TOP COMPETITORS
The following companies are the major competitors of Potash Corporation of Saskatchewan Inc.
The Mosaic Company

CF Industries Holdings, Inc
Koch Industries, Inc.
Agrium Inc.
Intrepid Potash, Inc.
BASF SE

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Company View
COMPANY VIEW
A statement by William J Doyle, President and Chief Executive Officer at Potash Corporation of
Saskatchewan is given below. The statement has been taken from the company's 2011 annual
report.
Part of a Bigger World
Throughout history, human progress has been rooted in agriculture. The ability to grow nutritious
food has provided people with the opportunity to lead healthier lives, build stronger communities
and create industries and social systems that support continuing advancement.
As the worlds largest fertilizer producer by capacity, PotashCorp plays an integral role in agriculture.
Approximately 50 percent of global food production can be attributed to the use of nitrogen, phosphate
and potash the three essential crop nutrients we produce. In simple terms, our products help grow
food.
Ours is a business that connects us to people on every continent and inspires us to contribute to
positive change where we work, where we live and where we serve our customers. We recognize
that we are part of a bigger world and that our performance as a fertilizer supplier, an employer, a
community leader and an investment choice can create value beyond traditional measures.
Rather than accept a narrow view of our role, we work closely with our stakeholders to understand
their needs and maximize the long-term benefits of our world-class assets.
By building strong relationships, prudently managing our resources and operating according to
consistent, transparent values, we believe we can generate superior long-term financial performance.
And, with strong and sustainable financial returns, we can grow to meet the needs of our customers
and create opportunities for our people and our communities.
It is a circle of success that not only serves our company and our stakeholders, we believe it can
help increase global food security and drive social and economic progress.
As Aristotle wrote 2,500 years ago, the whole is greater than the sum of its parts. At PotashCorp,
we understand that our contributions to food production are felt on a broad scale.
A World with Growing Needs
While the past half-century brought unprecedented growth in food production, the challenge today
is to keep pace with ongoing population and economic development.

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Company View
World population has surpassed 7 billion nearly double the number on the planet when I joined
the fertilizer business almost 40 years ago. In recent decades, we have seen prosperity improve on
a global scale, especially in the developing world, making it possible for millions of additional people
to enjoy more and better food. While this is a tremendously positive human development story, the
need to produce more food per acre puts constant pressure on the worlds farmers and their soils.
This challenge of feeding a growing world is not expected to subside. The United Nations estimates
that the global population will exceed 9 billion by 2050 another 2 billion people who need to eat.
It is not good enough to hope for a record harvest; the world must generate higher crop yields year
after year.
This is the reality facing global agriculture. To feed tomorrow, we need to start today.
We believe we have a responsibility not just to create value, but to help people better understand
what we offer the world.
Preparing Today
At PotashCorp, we recognize that creating sustainable value requires an integrated focus which
acknowledges the needs of all those who are key to the ongoing success of our business.
To achieve this, we pursue long-term priorities which stem from the company goals that support our
continuing growth and that of our stakeholders. In 2011, we took important steps forward in each of
these areas.
We delivered the second-highest earnings per share in our history, 80 percent more than the previous
year. Despite this strong financial result, our share performance was affected by macroeconomic
uncertainty in the second half of the year and the resulting temporary slowdown in fertilizer demand.
While we outperformed our fertilizer peer group, our total shareholder return failed to exceed that
of our benchmark, the DAXglobal Agribusiness Index.
However, our strong financial performance and record cash flow allowed us to raise our dividend in
both 2011 and 2012, and supported ongoing investment in our industry-leading potash expansion
program. In 2011, we spent nearly $1.5 billion and moved a step closer to our expected 17.1 million
tonnes of operational capability by 2015.
Our willingness and ability to prepare for our customers long-term needs, combined with the
knowledge of our sales team and strength of our distribution system, helped us remain the supplier
of choice in customer surveys again in 2011. While these results suggest that we are doing many
things right, we know we must earn our stripes each and every day.
The value of our operations and ongoing expansion program is also being felt in our communities,
as we create opportunities for people inside our company and attract new talent for the future. In
2011, we hired and trained 475 new employees and worked closely with local suppliers, creating

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Company View
economic benefits that help keep our communities growing. According to a recent economic impact
study, our potash expansions are expected to create more than 36,000 person-years of employment
in Saskatchewan, helping to drive the provinces strong economy.
We recognize that a community is built on more than its economy and that we can play a leadership
role in improving the areas where we operate. We contributed a record $21 million to organizations
and causes in 2011 a product of our continuing financial strength. I am so proud that our employees
also stepped up to the plate, not only through their financial contributions that we match as a company
but through their tremendous volunteerism and participation in community events.
By being a good neighbor, we earn trust and support that are necessary to fuel our future growth.
In each of the communities surveyed in 2011, PotashCorp earned recognition for leadership and
contributions, but we also asked for feedback about things we could do better.
Every relationship is important to understanding the full measure of our performance, but we place
one priority above all others: protecting our people.
Sadly, we experienced a fatality at our Aurora phosphate operation during the year a painful
reminder to every person in our company that we must always be vigilant in our focus on safety.
This commitment resonates from the Board of Directors through our executive team to each and
every front-line employee.
We also place priority on reducing our environmental impact. In 2011, our reportable environmental
incidents decreased by 30 percent from the 2010 level the lowest total in our company history.
This demonstrates the commitment of our people to environmental responsibility today, so we can
do our part in providing a better world tomorrow.
Feeding Tomorrow
We are confident that our value as a company and the importance of our contribution to global food
production will rise in the years ahead.
The push to increase crop yields, underpinned by the basics of soil science and supportive crop
economics, is expected to create more demand for all three essential crop nutrients. However, we
believe it will have the greatest effect on potash, which historically has been under-applied in many
developing regions.
In 2011, global potash shipments reached an estimated 55 million tonnes, nearly eclipsing the
previous record. We expect further increases in 2012 and beyond, and new supply will be required
to meet this demand.
Many companies are now making announcements about staking new potash deposits, beginning
feasibility studies or commencing early development work. These are initiatives that if they proceed

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Company View
will take significant capital investment and require many years to construct and ramp up to full
production.
Against this backdrop, our decision to initiate expansions almost a decade ago differentiates us from
our peers. We have now spent approximately 75 percent of the anticipated capital designed to almost
double the capability we had when the program was initiated in 2003. We have completed projects
at Rocanville, Allan, Lanigan, Cory and Patience Lake and have introduced new production in
response to growing demand. We are ramping up production at Cory in 2012 and continue our major
projects at Allan, Rocanville and New Brunswick.
While others are prospecting, planning or searching for capital, we are ready to bring on more new
supply over the next five years than any other company. Our commitment to these projects even
through the depths of the recession in 2009 means we were building when few others were, giving
us what we believe will be a clear time and cost advantage.
By recognizing the long-term nature of our business, we are ready to contribute to feeding tomorrow
and to deliver the benefits to all our stakeholders.
Responsible Long-Term Stewardship
Todays world brings heightened expectations and new opportunities for our company, but we will
continue to follow the same patient, disciplined and responsible approach that has defined PotashCorp
for more than two decades.
We have access to some of the worlds best potash resources and we recognize our responsibility
to be a good steward and maximize their long-term value for our company and for those who will
depend on them to protect soil fertility for generations to come.
As optimistic as we are about the future, we know that growth in the fertilizer industry does not follow
a straight line. Even with the increase in global food demand, commodity and financial markets were
volatile in 2011 because of macroeconomic issues such as concerns related to sovereign debt. This
caused farmers and fertilizer dealers to move cautiously as the year came to a close.
We responded as we have in the past by taking production downtime. This strategy of matching
supply to demand reflects our continuing operational discipline and our commitment to thinking for
the future. Our priority is long-term, responsible resource management rather than short-term rewards.
Measuring Value
In 2011, the Canadian Institute of Chartered Accountants (CICA) honored us with an award for the
best financial reporting in Canada the ninth consecutive year we have earned a place on the CICA
awards list. Still, for the benefit of our stakeholders, we strive for continuing improvement.

MarketLine
Company View
This year you will see a further evolution in our reporting as we endeavor to provide all those who
share our interest in PotashCorp with the best information possible to assess our performance. This
approach is supported by a progressive and engaged Board of Directors which sets the stage for a
high-performing company that delivers more than financial excellence.
This integrated way of operating and now reporting reflects the thinking of management and the
commitment of our people. We believe that our approach will help us evolve as a company while
playing a key role in feeding tomorrow.

MarketLine
Locations and Subsidiaries
LOCATIONS AND SUBSIDIARIES

Head Office
Suite 500
122 1st Avenue South
Saskatoon
Saskatchewan S7K 7G3
CAN
P:1 306 933 8500
F:1 306 933 8877
http://www.potashcorp.com
Other Locations and Subsidiaries
PCS Nitrogen Delaware LLC Canpotex Bulk Terminals Limited

Delaware CAN
USA
Chilkap Resources Ltd. Inversiones El Boldo Limitada

Yukon CHL
CAN
PCS Nitrogen Trinidad Limited Inversiones El Roble Limitada

TTO CHL
PCS Fosfatos do Brasil Ltda. PotashCorp Agricultural Cooperative

BRA Society Ltd.
ISR
PotashCorp Finance (Barbados) Limited PCS Hungary Holding Limited Liability

BRB Company
HUN

MarketLine
MARKETLINE | 119 FARRINGDON ROAD | LONDON, UNITED KINGDOM, EC1R 3DA
T: +44 161 238 4040 | F: +44 870 134 4371 | E: REACHUS@MARKETLINE.COM | W: www.marketline.com

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COMPANY PROFILE

REFERENCE CODE: 8CD60531-F951-43C7-88EB-052029E9C627

Potash Corporation of Saskatchewan Inc. Page 2

Potash Corporation of Saskatchewan (PotashCorp) is a manufacturer and marketer of fertilizers and

Head Office Potash Corporation of Saskatchewan Inc.

Potash Corporation of Saskatchewan Inc. Page 3

Potash Corporation of Saskatchewan (PotashCorp), is an integrated fertilizer and related industrial

Potash Corporation of Saskatchewan Inc. Page 4

Potash Corporation of Saskatchewan (PotashCorp) was established in 1975 as Crown.

In 1996, PotashCorp purchased phosphate production facility of Arcadian, producer of nitrogen

The company completed its acquisition of Arcadian in 1997.

Potash Corporation of Saskatchewan Inc. Page 5

The company launched an enhanced website section on sustainability in July 2012.

Potash Corporation of Saskatchewan Inc. Page 6

Name Job Title Board Compensation

Potash Corporation of Saskatchewan Inc. Page 7

Name Job Title Board Compensation

Potash Corporation of Saskatchewan Inc. Page 8

KEY EMPLOYEE BIOGRAPHIES

Board: Executive Board

Board: Non Executive Board

Board: Non Executive Board

Potash Corporation of Saskatchewan Inc. Page 9

Board: Non Executive Board

Board: Non Executive Board

Board: Non Executive Board

Potash Corporation of Saskatchewan Inc. Page 10

Board: Non Executive Board

Board: Non Executive Board

Board: Non Executive Board

Elena Viyella De Paliza

Board: Non Executive Board

Potash Corporation of Saskatchewan Inc. Page 11

Board: Non Executive Board

Board: Non Executive Board

Board: Non Executive Board

Potash Corporation of Saskatchewan Inc. Page 12

Board: Senior Management

Board: Senior Management

Board: Senior Management

Potash Corporation of Saskatchewan Inc. Page 13

Board: Senior Management

Board: Senior Management

Potash Corporation of Saskatchewan Inc. Page 14

MAJOR PRODUCTS AND SERVICES

Solid and liquid phosphate fertilizers

Nitrogen fertilizers and nitrogen feed

Potash Corporation of Saskatchewan Inc. Page 15

The Mosaic Company

Potash Corporation of Saskatchewan Inc. Page 16

Part of a Bigger World

A World with Growing Needs

Potash Corporation of Saskatchewan Inc. Page 17

Potash Corporation of Saskatchewan Inc. Page 18

Potash Corporation of Saskatchewan Inc. Page 19

Responsible Long-Term Stewardship

Potash Corporation of Saskatchewan Inc. Page 20

Potash Corporation of Saskatchewan Inc. Page 21

LOCATIONS AND SUBSIDIARIES

Other Locations and Subsidiaries

PCS Nitrogen Delaware LLC Canpotex Bulk Terminals Limited

Chilkap Resources Ltd. Inversiones El Boldo Limitada

PCS Nitrogen Trinidad Limited Inversiones El Roble Limitada

PCS Fosfatos do Brasil Ltda. PotashCorp Agricultural Cooperative