Glossary

Abbreviated Company Names and Sources*

Agrium

Agrium Inc. (TSX and NYSE: AGU), Canada

APC

Arab Potash Company (Amman: ARPT), Jordan

Belaruskali

PA Belaruskali, Belarus

Bloomberg

Bloomberg L.P., USA

Blue Johnson

Blue, Johnson Associates Inc., USA

Canpotex

Canpotex Limited, Canada

CF Industries

CF Industries Holdings, Inc. (NYSE: CF), USA

CN Rail

Canadian National Railway Co. (TSX: CNR and NYSE: CNI), Canada

CP Rail

Canadian Pacific Railway Ltd. (TSX and NYSE: CP), Canada

CRU

CRU International Limited, UK

CVR

CVR Partners, L.P., USA

DBRS

Dominion Bond Rating Service, Canada

FactSet

FactSet Research Systems Inc., USA

FAO

Food and Agriculture Organization of the United Nations

Fertecon

Fertecon Limited, UK

ICL

Israel Chemicals Ltd. (Tel Aviv: ICL), Israel

IFA

International Fertilizer Industry Association, France

Innophos

Innophos Holdings, Inc. (NASDAQ: IPHS), USA

Intrepid

Intrepid Potash, Inc. (NYSE: IPI), USA

IPNI

International Plant Nutrition Institute, USA

K+S

K+S Group (Xetra: SDF), Germany

Koch

Koch Industries, Inc., USA

LSB

LSB Industries, Inc. (NYSE: LXU), USA

Moody’s

Moody’s Corporation (NYSE: MCO), USA

Mosaic

The Mosaic Company (NYSE: MOS), USA

NYMEX

New York Mercantile Exchange, USA

NYSE

New York Stock Exchange, USA

OCI

OCI N.V., (NYSE Euronext: OCI), The Netherlands

Simplot

J.R. Simplot Company, USA

Sinofert

Sinofert Holdings Limited (HKSE: 0297.HK), China

SQM

Sociedad Química y Minera de Chile S.A. (Santiago Bolsa de Comercio Exchange, NYSE: SQM), Chile

S&P

Standard & Poor’s Financial Services LLC, USA

TSX

Toronto Stock Exchange, Canada

Uralkali

JSC Uralkali (LSE and RTS: URKA), Russia

USDA

United States Department of Agriculture

USDOC

US Department of Commerce, USA

Yara

Yara International ASA (Oslo: YAR), Norway

  • *Where PotashCorp is listed as a source in conjunction with external sources, we have supplemented the external data with internal analysis.

Terms and Measures

Scientific Terms

Nitrogen

NH3

ammonia (anhydrous), 82.2% N

HNO3

nitric acid, 22% N (liquid)

UAN

nitrogen solutions, 28-32% N (liquid)

Phosphate

MGA

merchant grade acid, 54% P2O5 (liquid)

DAP

diammonium phosphate, 46% P2O5 (solid)

MAP

monoammonium phosphate, 52% P2O5 (solid)

SPA

superphosphoric acid, 70% P2O5 (liquid)

Monocal

monocalcium phosphate, 48.1% P2O5 (solid)

Dical

dicalcium phosphate, 42.4% P2O5 (solid)

DFP

defluorinated phosphate, 41.2% P2O5 (solid)

STF

silicon tetrafluoride

Potash

KCl

potassium chloride, 60-63.2% K2O (solid)

Product Measures

K2O tonne

Measures the potassium content of products having different chemical analyses

N tonne

Measures the nitrogen content of products having different chemical analyses

P2O5 tonne

Measures the phosphorus content of products having different chemical analyses

Product tonne

Standard measure of the weights of all types of potash, nitrogen and phosphate products

Currency Abbreviations

CDN

Canadian dollar

USD

United States dollar

Exchange Rates

CDN per USD at December 31, 2016 – 1.3427

General Terms

2016E

2016 estimated

2017F

2017 forecast

Brownfield capacity

Increase in operational capability at existing operation

CAGR

Compound annual growth rate

CAPEX

Capital expenditure

Canpotex

An export company owned by all Saskatchewan producers of potash (PotashCorp, Mosaic and Agrium)

Consumption vs demand

Product applied vs product purchased

FOB

Free on Board – cost of goods on board at point of shipment

FSU

Former Soviet Union

GDP

Gross Domestic Product

Greenfield capacity

New operation built on undeveloped site

Latin America

South America, Central America, Caribbean and Mexico

LNG

Liquefied natural gas

MMBtu

Million British thermal units

MMT

Million metric tonnes

Nameplate capacity

Estimated theoretical capacity based on design specifications or Canpotex entitlements – does not necessarily represent operational capability

North America

The North American market includes Canada and the US

Offshore

Offshore markets include all markets except Canada and the US

Operational capability

Estimated annual achievable production level

PotashCorp

Potash Corporation of Saskatchewan Inc. (PCS) and its direct or indirect subsidiaries, individually or in any combination, as applicable

Yuzhnyy

A port situated in Ukraine


Non-Financial Terms

Arrangement Agreement

The arrangement agreement between PotashCorp and Agrium Inc. (Agrium) dated September 11, 2016.

Community investment

Represents cash disbursements, matching of employee gifts and in-kind contributions of equipment, goods, services and employee volunteerism (on corporate time).

Community survey score

Survey conducted annually by an independent third party in the communities where PotashCorp has significant operations; each community is generally surveyed every three years. Community leaders and representatives are asked to provide a ranking in three broad areas: perception of community involvement, business practices and economic issues. Each question is rated on a scale of 1 (low) to 5 (high) and results are determined by taking a simple average of the metrics described above.

Customer survey score

Online survey conducted by an independent third party measuring performance in product quality and customer service, which includes a selection of top customers from each sales segment. Results are determined by taking a simple average of individual product quality and customer service scores in fertilizer, feed, industrial nitrogen and purified phosphate.

Employee engagement score

Represents the proportion of employee responses of “Agree” or “Strongly Agree” to four best practice employee engagement statements.

Employee turnover rate

The number of permanent employees who left the company (due to deaths and voluntary and involuntary terminations, and excluding retirements and announced workforce reductions) as a percentage of average total employees during the year. Retirements and terminations of temporary employees are excluded.

Environmental incidents

Number of incidents includes reportable quantity releases, permit non-compliance and Canadian reportable releases. Calculated as: reportable quantity releases (a release whose quantity equals or exceeds the US Environmental Protection Agency’s notification level and is reportable to the National Response Center (NRC)) + permit non-compliance (an exceedance of a federal, state, provincial or local permit condition or regulatory limit) + Canadian reportable releases (an unconfined spill or release into the environment).

Greenhouse gas (GHG) emissions

Based on 2007 United Nations International Panel on Climate Change Fourth Assessment Report (UN IPCC Fourth AR).

Proposed Transaction

The pending merger of equals transaction between PotashCorp and Agrium pursuant to which the company and Agrium have agreed to combine their businesses pursuant to a statutory plan of arrangement under the Canada Business Corporations Act.

Taxes and royalties

Includes tax and royalty amounts on an accrual basis calculated as: current income tax expense (which was already reduced by the realized excess tax benefit related to share-based compensation under previous Canadian GAAP) - investment tax credits - realized excess tax benefit related to share-based compensation (under IFRS) + potash production tax + resource surcharge + royalties + municipal taxes + other miscellaneous taxes.

Total lost-time injury rate

Total lost-time injuries for every 200,000 hours worked for all PotashCorp employees, contractors and others on site. Calculated as the total lost-time injuries multiplied by 200,000 hours worked divided by the actual number of hours worked.

Total recordable injury rate

Total recordable injuries for every 200,000 hours worked for all PotashCorp employees, contractors and others on site. Calculated as the total recordable injuries multiplied by 200,000 hours worked divided by the actual number of hours worked.

Total severity injury rate

Total of lost-time injuries (a lost-time injury occurs when the injured person is unable to return to work on his/her next scheduled workday after the injury) + modified work injuries (a work-related injury where a licensed health care professional or the employer recommends the employee not perform one or more of the routine functions of the job or not work the full workday that he/she would have otherwise worked) for every 200,000 hours worked for all PotashCorp employees, contractors and others on site.

Waste

Comprised of waste or byproducts from mining, including: coarse and fine tailings from potash mining, salt as brine to injection wells and gypsum (related to phosphate operations).

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