Investor Presentation

Investor Presentation October 28, 2010

Investor Presentation

Forward-Looking Statements

Investor Presentation October 28, 2010

Forward-Looking Statements

Important Information

Investor Presentation October 28, 2010

Important Information

Agenda

Investor Presentation October 28, 2010

Agenda

Earnings Results and Full-Year Forecast

Investor Presentation October 28, 2010

Earnings Results and Full-Year Forecast

Situation Update: BHP Offer and Anticipated Timing

Investor Presentation October 28, 2010

Situation Update: BHP Offer and Anticipated Timing

Strong Long-Term Industry Fundamentals

Investor Presentation October 28, 2010

Strong Long-Term Industry Fundamentals

Strong Long-Term Industry Fundamentals

Investor Presentation October 28, 2010

Strong Long-Term Industry Fundamentals

World Grain Profile

Investor Presentation October 28, 2010

World Grain Profile

Industry Trends Have Improved Significantly

Investor Presentation October 28, 2010

Industry Trends Have Improved Significantly

World Grain Stocks-To-Use Ratio

Investor Presentation October 28, 2010

World Grain Stocks-To-Use Ratio

World Crop Prices

Investor Presentation October 28, 2010

World Crop Prices

Crop Return Over Variable Costs

Investor Presentation October 28, 2010

Crop Return Over Variable Costs

Potash Cost as Percentage of Revenue

Investor Presentation October 28, 2010

Potash Cost as Percentage of Revenue

North American Potash Producer Shipments and Inventories

Investor Presentation October 28, 2010

North American Potash Producer Shipments and Inventories

Estimated World Potash Ending Inventory

Investor Presentation October 28, 2010

Estimated World Potash Ending Inventory

US Phosphate and Nitrogen Producer Inventory

Investor Presentation October 28, 2010

US Phosphate and Nitrogen Producer Inventory

Fertilizer Price Changes Since BHP Proposal in August

Investor Presentation October 28, 2010

Fertilizer Price Changes Since BHP Proposal in August

Fertilizer Stock Price Changes Since BHP Proposal

Investor Presentation October 28, 2010

Fertilizer Stock Price Changes Since BHP Proposal

PotashCorp Well Positioned

Investor Presentation October 28, 2010

PotashCorp Well Positioned

World Potash Shipments and Operational Capability

Investor Presentation October 28, 2010

World Potash Shipments and Operational Capability

World Potash Operating Rate*

Investor Presentation October 28, 2010

World Potash Operating Rate*

World Crop Prices; Potash Operating Rate and Prices

Investor Presentation October 28, 2010

World Crop Prices; Potash Operating Rate and Prices

PotashCorp Phosphate and Nitrogen Gross Margin

Investor Presentation October 28, 2010

PotashCorp Phosphate and Nitrogen Gross Margin

Gross Margin Bridge (2010F to 2011F)

Investor Presentation October 28, 2010

Gross Margin Bridge (2010F to 2011F)

PotashCorp’s Advantaged Position

Investor Presentation October 28, 2010

PotashCorp’s Advantaged Position

World Potash Supply/Demand

Investor Presentation October 28, 2010

World Potash Supply/Demand

PotashCorp Increasing Operational Capability*

Investor Presentation October 28, 2010

PotashCorp Increasing Operational Capability*

Potash Sales Volumes & Netbacks

Investor Presentation October 28, 2010

Potash Sales Volumes & Netbacks

Significant Operating Leverage

Investor Presentation October 28, 2010

Significant Operating Leverage

Significant Operating Leverage

Investor Presentation October 28, 2010

Significant Operating Leverage

PotashCorp’s Unique Position

Investor Presentation October 28, 2010

PotashCorp’s Unique Position

Hypothetical Unaffected Stock Price Analysis (HUSP)

Investor Presentation October 28, 2010

Hypothetical Unaffected Stock Price Analysis (HUSP)

Full Value of Investments

Investor Presentation October 28, 2010

Full Value of Investments

Hypothetical Unaffected Stock Price Analysis

Investor Presentation October 28, 2010

Hypothetical Unaffected Stock Price Analysis

Hypothetical Unaffected Stock Price Analysis

Investor Presentation October 28, 2010

Hypothetical Unaffected Stock Price Analysis

Hypothetical Unaffected Stock Price Analysis

Investor Presentation October 28, 2010

Hypothetical Unaffected Stock Price Analysis

Historical Premiums in Marquee Canadian Resource Transactions

Investor Presentation October 28, 2010

Historical Premiums in Marquee Canadian Resource Transactions

Total Shareholders Return

Investor Presentation October 28, 2010

Total Shareholders Return

PotashCorp Continues To Believe BHP’s Offer Is Wholly Inadequate

Investor Presentation October 28, 2010

PotashCorp Continues To Believe BHP’s Offer Is Wholly Inadequate

Hypothetical Unaffected Stock Price Analysis

Investor Presentation October 28, 2010

Hypothetical Unaffected Stock Price Analysis