September 2020

Compass Minerals Business Overview

Forward-Looking StatementsCertain statements in this presentation, including without limitation statements about the Goderich mine plan, including its keyfeatures and ability to increase efficiency, decrease maintenance needs and provide greater optionality; bid season results, including earnings impact; innovation pipeline, including ability to increase ROI; applications and planted acres; grower economics and agriculture product sales outlook; strategic priorities, including the Plant Nutrition South America business strategic assessment and ability to deliver on commitments and build a sustainable culture; enterprise-wide optimization, including expected benefits; liquidity, free cash flow, improving balance sheet, expenditures and leverage ratio; ability to set stage for future; pricing; sales mix; foreign currency rates; and the company’s outlook for the second half of 2020 and full-year 2020, including revenue, EBITDA, sales volumes, corporate and other expense, interest expense, depreciation, depletion and amortization, capital expenditures and tax rate, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-lookingstatements are those that predict or describe future events or trends and that do not relate solely to historical matters. We use words such as “may,” “would,” “could,” “should,” “will,” “likely,” “expect,” “anticipate,” “believe,” “intend,” “plan,” “forecast,” “outlook,” “project, ” “estimate” and similar expressions suggesting future outcomes or events to identify forward-looking statements or forward-looking information. These statements are based on the company's current expectations and involve risks and uncertainties that could cause the company's actual results to differ materially. The differences could be caused by a number of factors, including without limitation (i) impacts of the COVID-19 pandemic, (ii) weather conditions, (iii) pressure on prices and impact from competitive products, (iv) foreign exchange rates and the cost and availability of transportation for the distribution of the company’s products, (v) any inability by the company to successfully implement its strategic priorities or its cost saving or enterprise optimization initiatives, and (vi) the outcome of the company’s strategic evaluation of the Plant Nutrition South America business. For further information on these and other risks and uncertainties that may affect the company’s business, see the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the company’s Annual Report on Form 10-K for the year ended December 31, 2019 and its Quarterly Reports on Form 10-Q for the quarter ended March 31 and June 30, 2020, filed with the SEC. The company undertakes no obligation to update any forward looking statements made in this presentation to reflect future events or developments. Because it is not possible to predict or identify all such factors, this list cannot be considered a complete set of all potential risks or uncertainties.

Water treatment and industrial uses in Brazil

Highway deicing in North America and U.K.

Compass Minerals: An Essential, Diversified Global Minerals Company

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

Salt and Magnesium Chloride

Plant Nutrients

Chemical Solutions

Specialty and semi-specialty in North and

South America

Consumer and industrial end uses in North America

Total Sales$1.5 BILLION

2Q20TTM Financial Highlights

Adjusted EBITDA*$343 million

Adjusted EBITDA* Margin23%

2Q20TTM GROSS SALES BY MARKET

Plant Nutrition 36%

Deicing 39%

Consumer & Industrial25%

2Q20 Highlights

4

$233.9M

EBITDA**

$17.6M*Operating Earnings

44%

1H20 Cash Flow from

Operations

vs. 2Q19

*2Q19 excludes $2.8 million of unusual logistics expense related to Mississippi river flooding.**Earnings before interest, taxes, depreciation and amortization and adjusted for special items. See appendix for reconciliations.

• Resilient performance and improved execution achieved while addressing COVID-19 challenges

• Maintaining our COVID-19 focus:

- Health and safety of employees and communities

- Meeting customers needs for our essential products

- Intensified liquidity and risk management

109%vs. 1H19

vs. 2Q19

Our Salt Business

5

• Unique attributes - Recession-resistant and non-cyclical- Relatively low cost to end-users- Transportation costs favor domestic

producers

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

Our Salt Business: Well-Positioned in Unique Commodity Industry

6

Deicing

Consumer non-deicing

Industrial

Chemical

6

Primary served highway deicing marketsAdjacent market growth potential

* Non-GAAP measure. See appendix for reconciliation.

Salt Production LocationsUnderground salt miningMechanical evaporationSolar evaporationPackaging plant

2Q20TTM Salt Sales

$880M

Salt Segment 2Q20TTM Snapshot (in millions)

Sales $880

EBITDA* $251

Adjusted EBITDA* margin 29%

Strong Fundamental Attributes of Our Salt Business

• Scale of rock salt mines enables production efficiencies

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

Superior Assets

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

Logistical Advantages

• Transportation costs limit imports• New mine development rarely economically

feasible

Insulated Markets

• Vertically integrated raw materials for specialty products

• Lower-cost rock salt advantage in packaged deicing products

Strong Deicing Portfolio

7

$43

$84

$0$15$30$45$60$75$90

Average Selling Price ($ per ton)

Salt: A Resilient History With Margin Improvement Underway

8

Salt Segment Sales Reflect Snow Activity

153

204

92

175

226

150160169

111

189186

143134127163177

134

2,000

4,000

6,000

8,000

10,000

12,000

14,000

Sales Volume Estimated Snow Days*

Steady Price Improvement Despite Winter Variability

+4% CAGR

*The sum of days with one or more inches (~2.5 cm) of snow in 11 selected U.S. and Canadian cities in Compass Minerals’ service area, as reported by the NOAA National Weather Service, Environment Canada. **2019 excludes $2.8 million of unusual logistics expense related to Mississippi river flooding. ¥Non-GAAP measure. See appendix for data and reconciliation.

(tons, in thousands)

13.5

% 20.0

%

19.3

% 26.1

%

OPERATING MARGIN**

EBITDA MARGIN

FY18 FY19 Target Margin Range

Progress Toward Margin Improvement

¥

Paving the Way for Long-Term Success at Goderich Mine

• Long-term mine plan implementation underway

• Expected to increase efficiency of mining systems, decrease maintenance needs of previously mined space and provide greater optionality to address potential variability in geology and deposit quality

• Key features include:- Built-for-purpose roadways to

mining area which are designed for 50-year life span, have lower ceilings and require less scaling

- Five-year panels designed to be shuttered with minimal long-term maintenance

9

Note: Not to scale, for illustrative purposes only.

Long-Term Goderich Mine Illustration

Improved Execution Lifting Salt Segment Earnings

• Strong year-over-year increases in average selling prices for North American highway deicing mostly offset reduced sales volumes due to mild winter weather

• Improved Goderich production results and lower logistics costs drove increased earnings despite lower revenue

- 1H20 Goderich production tons up 16% vs. 1H19

- Logistics costs lower due to reduced fuel cost and early enterprise-wide optimization benefits

10

Adjusted EBITDA*

24%

1H20 vs. 1H19 :

19%

*2Q19 excludes $2.8 million of unusual logistics expense related to Mississippi river flooding.*Earnings before interest, taxes, depreciation and amortization and adjusted for special items. See appendix for reconciliations.

Revenue

Operating Earnings

2%

Challenging North American Highway Deicing Bid Season

• A challenging 2020-2021 North American highway deicing bid season following a mild winter

- Mid-teens percentage decline in requested bid volumes in our served market

• Disciplined effort to re-establish market position within North America using low-cost Goderich salt

• With 75% of season compete*, expecting ~8% awarded bid volume growth, average awarded bid pricing declining ~11% vs. prior bid season

• Earnings impact expected to be less than the top line price result, assuming average winter weather

- Better production at Goderich mine replacing imported salt cost

- Logistics benefits from lower fuel cost and optimization efforts Partially offset by barge and vessel rate

increases11

North America Highway Deicing Market Remains Resilient Market

+14%Net Average

Awarded Bid Price 2017 – 202020

17 av

erag

e aw

arde

d bi

d pr

ice

2020

aver

age

awar

ded

bid

pric

e

*As of August 4, 2020.

Our Plant Nutrition Business

12

Our Plant Nutrition Business: Providing Efficient Solutions for Sustainable Agriculture

13

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

AMERICAS FOCUSED

Compass Minerals has unique and focused specialty plant nutrition

portfolio and capability in theWestern Hemisphere

To meet the global need for sustainably produced food

Plant Nutrition North America

Plant Nutrition South America Agriculture

Plant Nutrition South America Chemical Solutions

2Q20TTMPlant Nutrition Sales

$622M

Total Plant Nutrition 2Q20TTM Snapshot (in millions)

Sales $ 622

EBITDA* $ 144

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

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

• Leading micronutrients platform • Focused innovation and product

development capabilities

14

Inorganic Salts

What is Specialty Plant Nutrition?

C H O

N P K

Ca Mg S

Bio-stimulants

N P K

Chelates

Oxides

Adjuvants

Microbes

Com

pass

Min

eral

s

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

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

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

matter)

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

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

matter)

Adjuvants Chemistries to optimize tank mix compatibility

and active ingredient effectiveness

Macro fertilizers Building blocks of the plant system (commodities)

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

Base of the NPK fertilizer industry

Naturally available elements Structural elements

Provided by nature and generally not subject to shortages

14

15

The Importance of Specialty Plant Nutrition and the Yield Gap

Contributors to “The Yield Gap”

Adverse ClimateLack of RainfallSub-Optimal GeneticsPoor Plant Fertility

Poor Soil HealthWeed PressureInsect PressureDisease Pressure

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

~85 bu/ac$850/ac

140

53

133

51

020406080

100120140160

Yield Winner National Average

Bush

els/

Acre

US BRZ

542

176

0

100

200

300

400

500

600

Yield Winner National AverageBu

shel

s/Ac

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

Soy*

Corn*

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

overlooking micronutrient needs

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

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

• Important to ensure micronutrients are not neglected

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

Seed Treatment

Coated Fertilizer Slow Release - NPK Blends Solubles Foliars Biologicals

COMMODITY FERTILIZER

N P K

SPECIALTY PLANT NUTRITIONSPECIALTY K

SOP, SOPM & KTS, KNO3

Plant Nutrition Market Landscape

16

ICL

Haifa ChemicalSQM

Nutrien

COMPASS MINERALS

KochStoller

Mosaic

Yara

Koch

High Volume / Low Margin

Moderate Margin Low Volume / High Margin

16

K+S

Global Market Size ~$160 BILLION

9%3%

18%

41%

20%

9%

Specialty Fruits, Nuts and Vegetables

Our Core Geographic Presence Today

Locations advantaged to serve key agriculture markets in Western Hemisphere

• SOP production well-positioned to serve specialty crops

• Access to key agricultural markets in Brazil

• Brazil sites accessible to ports

• Locations serve producers of corn, soybeans, coffee, tree nuts, oranges, sugarcane and other specialty crops

• R&D facilities in North and South America

17

Plant Nutrition Production Locations

Agriculture production facility

Water Treatment & Chemicals production facility

Research & development facility

Toll Manufacturing Providers

30% 25%

15%20%

10%

Compass Minerals’ North American Crop Mix

Other, including turf and horticulture

Tree nuts

Vegetables

Fruits

Cereals and Other Row Crops

SugarcaneCorn

Compass Minerals’ South American Crop Mix

Coffee and Cocoa

Soybeans

Sources: FAO, USDA, Compass Minerals estimates.

Corn, Soybean and other Row Crops

17

Leading Producer of High-Value SOP in the Americas

18

• Only North American SOP producer and largest in the Americas

- Unique asset at Ogden with low-cost solar evaporation SOP production with ~325,000 tons annual capacity Unique capability to expand annual production by

~200,000 tons by adding muriate of potash (MOP)

- Typically hold 70% to 80% of North American SOP market Import competition primarily from Europe and

South America

About 50% of global SOP production uses high-cost chemical conversion process that begins with MOP

• SOP improves the economics of growing many high-value and chloride-sensitive crops

- Strengthens root systems - Increase nutrient uptake- Increase total yield and yield quality- Provides plant-ready sulfur, an important

nutrient supporting crop yield, quality and marketability

18

~60% of Compass Minerals SOP sales

Tree nuts

Citrus

Tobacco

Strawberries

High Low

Avocado

Lettuce

Grapes

Other berries

Potatoes

Alfalfa

Tomato

Crop Chloride Sensitivity

Diversified End-Market Insulate From Commodity Row Crops

Soybeans Strawberries AlmondsU.S. acres ~90M ~60K ~1.25M

Input costs/acre $473 $67,674 $6,241

Fertilizer cost /acre $41 $688 $490

No. of field passes 5 16 7

Net return/acre $67 $30,325 $9,309

Compass Minerals product fit

Rocket Seeds™Wolf Trax™ProAcqua®

Abundance Organic

Protassium+®

Wolf Trax™ProAcqua®

Abundance Organic

Protassium+®

Wolf Trax™ProAcqua®

Abundance Organic

19Sources: Estimated Cost of Crop Production in Iowa, Iowa State University Extension and Outreach (2018); 2017 Farm Budgets, University of Illinois FarmDocDaily; University of California Agriculture and Natural Resources Cooperative Extension and Agricultural Issues Center.

Go-to-Market Approach Tailored to Accelerate Growth

Plant Nutrition South America Plant Nutrition North America

• Comprehensive commercial strategy allows access to all farmers in Brazil

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

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

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

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

approach• Cross-selling two Brazil brand families in North

America today• Capable of both product and equipment solutions

20

Regional sales rep and manager count by concentration

> 20

10 to 20

< 10

21

0%

20%

40%

60%

80%

100%

2013 2014 2015 2016 2017 2018 2019

Products launched before 2013

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

Focused Innovation Pipeline with 31 projects

in 201913 11

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

9

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

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

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

• Track record of success with 16 new product lines introduced since 2017 in North and South America

% o

f Pla

nt N

utrit

ion

Sout

h Am

eric

a Ag

ro

sale

s by

pro

duct

intro

duct

ion

Products launched in 2013 and later

Innovation Pipeline Focused on Specialty Plant Nutrition

21

Attractive, Complementary Chemical Solutions Business in Brazil

22

• Water treatment products for municipal and industrial clients to treat waste water and control odor

- Products include polymers, coagulants, flocculants and green sand

- Growth market given current status of Brazil’s water and waste treatment infrastructure

- Shared production facilities with agriculture products

• Specialty chemicals for industrial customers, including oil and gas, mining, pulp and paper and others

- Products include caustic soda, chlorine products and others

• Business provides steady sales volumes throughout the year

22

Plant Nutrition South America Revenue Profile

Agro ~70%

Chemical Solutions

~30%

Plant Nutrition South America Chemical Sales Volumes by Quarter(in thousands of tons)

0

50

100

1Q 2Q 3Q 4Q2017 2018 2019 2020

Strong Start to 2020 With Demand Recovery in Both North and South America

050

100150200250300350400

23

Sales Volumes (in thousands, short tons)

Plant Nutrition North America Plant Nutrition South America

• Improved grower economics and fertilizer affordability boosted agriculture product sales

• Rest-of-year outlook remains strong for agriculture product sales due to robust grower economics

Sales Volumes (in thousands, short tons)

• Sales volumes up 41% vs. prior year on strong SOP and micronutrient demand

• Favorable application and planting conditions compared to prior year

• Substantial increase in row crop acres expected to be planted in North America versus 2019

050

100150200250300350400

1H18 1H19 1H20

Chemical Solutions Agriculture

0100200300400500600700800900

FY18 FY19 FY20E1H18 1H19 1H20 FY18 FY19 FY20E

Our Path Forward

24

25

Our Key Strategic Priorities

25

Strategic Assessment

Deliver on Commitments

Build Sustainable Culture

• Strategic review of Plant Nutrition South America business remains on hold

• Ongoing evaluation of core strengths and opportunities to leverage advantaged assets

• Meet then exceed customer expectations, even in this challenging time

• Continue operational improvements at mines and plants• Full commitment to optimization effort across enterprise• Enhance balance sheet flexibility

• Drive Zero Harm imperative for our people and the environment

• Increase employee engagement and build execution muscle

Enterprise-Wide Optimization ImplementationContinues

• Bottom-up process used to identify improvement opportunities in key focus areas

- More than 1,200 initiatives identified and more than 500 business cases defined

- Centralized support structure established to ensure execution milestones are delivered

- Employee culture and engagement a key component to success

• Some benefits expected in 2020, ramping up through 2022

- Logistics and working capital initiatives providing early benefits in 2020

26

Operations

Expected Benefit by Value Stream

Operations

Logistics

Strategic sourcing

Commercial

Working capital

Increase production with greater efficiency

Leverage transportation footprint across businesses

Partner with key supplies to more effectively source globallyImprove customer experience;

identify new markets

Improve order-to-cash processes

Focus Areas

Maintaining Strong Liquidity Position and Improving Balance Sheet

• $67 million of cash on hand and more than $300 million of total liquidity at end of 2Q20

• Entered into U.S. A/R securitization facility to further enhance liquidity

• Proactively reducing cap ex and discretionary spending as part of balance sheet risk management

• Anticipate ending 2020 with adjusted net-debt-to-EBITDA leverage ratio of ~3.9x

27

$175 $130

$175

$225 to $250

$2$52

$102$152$202$252$302

2017 2018 2019 2020E

Total Year-End Liquidity(in millions)

Expected FY20 FCF Range =$125 million to $150 million

Stage is Set for a Bright Future

28

Strong leadership team in place with relentless focus on safety, employee engagement and execution

Goderich mine achieving production targets and moving forward with long-term mine plan

Sizable organic growth plan defined by enterprise-wide optimization effort

Free cash flow increasing and balance sheet improvements underway

Appendix

29

Highway Deicing Industry in North America

Government-directed Selling Process Overview• Each government issues a Request for

Quotation (RFQ) for blind, sealed bids- RFQs are typically issued between April

and October- Each government’s RFQ specifies a

volume or volume range, a bid due date and a bid open date

• All bids are made public on the bid-open date

- Creates a transparent process

• Contract is awarded to the lowest bidder- Negotiation and relationship building are

prohibited

• Contract is for a 12-month period … sometimes longer

- Price cannot change during 12-month contract period

31

Bid Award Timeline Shapes Strategy

• Timing is different for each customer

• Compass Minerals evaluates each bid result and adjusts strategy accordingly

• Thousands of bids are prepared each year

Sun Mon Tue Wed Thur Fri Sat

1 2 3 4 5 6 7

8 Govt. A RFQ issued 10 11 12 13 14

15 16 17 18 19 20 21

22 Govt. A Bids due 24 Govt. B RFQ issued

Govt. A Bids awarded 27 28

29 30 1 2 3 4 5

6 7 8 Govt. B Bids due/ 10 Govt. C RFQissued 12

13 Govt. B Bids awarded 15 16 17 18 19

20 21 22 23 24 Govt. C Bids due 26

27 28 Govt. C Bidsawarded 30 31 1 2

Illustration of Bid Timeline

32

The Government-directed ProcessProhibits Price Negotiation

• Bid requests usually include several delivery points

• Amount requested often reflects prior-winter snow activity

• Most U.S. customers guarantee a minimum purchase and require maximum delivery

• Suppliers’ bid prices include delivery

• Contracts are awarded on a delivery-point by delivery-point basis

• Sets price for entire winter season

Illustration of a Government Bid Request*

Delivery Location

Requested Quantity

Guaranteed Minimum Purchase

Required Delivery

CapabilityPercentage

Range

Dover 2000 1700 2300 85% - 115%Fairview 6500 5200 7800 80% - 120%Franklin 175 122.5 210 70% - 120%Greenville 10,075 8,060 12,090 80% - 120%Hudson 350 262.5 455 75% - 130%

Illustration of a Government Bid Award*

Delivery Location

Requested Quantity

Illustration ofWinning

Bid*Illustration of Bid Winner*

Dover 2000 $50.00 Competitor AFairview 6500 $53.50 Competitor AFranklin 175 $54.50 Competitor B Greenville 10,075 $57.35 Competitor C Hudson 350 $51.00 Competitor D

* For illustration purposes only. This is not an actual bid request.

33

Actual Sales Occur Months Later

• Deliveries begin in late fall and end in early spring

• Typically, governments keep only enough rock salt on hand for two or three applications

- Highway deicing salt is too bulky for most governments to store in large quantities

• Governments reorder as their supply is used- Supplies are shipped from the nearest depot- Each delivery creates a new sales transaction

• After mild winters, suppliers have most of the extra supply

- Very little inventory is held by the customer

34

Logistics is a Competitive Strength

35

Mines

Depots

2Q20 Financial Results and Outlook (as of August 4, 2020)

36

2Q20 Segment Summary

37

Salt Segment Plant Nutrition North America

Plant Nutrition South America

$15

$32$30

$47

Operating earnings

EBITDA**

2Q19* 2Q20

$1.7

$7.2$8.9

$13.5

Operating earnings

EBITDA*

2Q19 2Q20

• Improved highway deicing pricing and sales volumes boosted sales vs. prior year, more than offsetting impact of COVID-19 on non-deicing salt sales

• Strong performance at North America mines as well as lower logistics costs

• Sales volumes up 20% vs. prior year on strong sulfate of potash (SOP) and micronutrient demand

• Favorable application and planting conditions compared to prior year

• Improved grower economics and fertilizer affordability boosted agriculture product sales

• Solid quarter for chemical solutions business driven by demand for chlor-alkali products

$4.6

$15.5

$5.1

$15.3

Operating earnings

EBITDA**

2Q19 2Q20(In millions of U.S. dollars)

*2Q19 Salt results excludes $2.8 million of unusual logistics expense related to Mississippi river flooding.**Earnings before interest, taxes, depreciation and amortization and adjusted for special items. See appendix for reconciliations.

2H20 EBITDA

2H20 Outlook (As of Aug. 4, 2020)

• 2H20 Salt segment revenue and EBITDA expected to be similar to 2H19 with an increase in sales volumes offset by lower highway deicing prices

- Continue to expect $1/ton to $2/ton reduction in salt product cost in 2H20

• 2H20 Plant Nutrition North America segment revenue and EBITDA expected to be flat with 2H19 on slightly lower sales volumes offset by improved product sales mix vs. prior year

• Plant Nutrition South America anticipated to continue benefiting from strong grower economics in 2H20

- Expected revenue and EBITDA growth of approximately 15% in local currency vs. 2H19 Current 2H20 USD-BRL exchange rate assumption @ ~ 5.15

38

Salt Plant Nutrition North America

Plant Nutrition South America

2H20 Revenue $450M $490M

$145M$125M

$110M

$37M $45M

$130M $200M

$40M $50M

$230M

2020 Full-Year Guidance Items(As of Aug. 4, 2020)

39

Key Metrics(in millions of dollars unless otherwise noted) Current vs. Prior Guidance

(May 5, 2020)

Segment Outlook Low High Low High

Salt Segment sales volumes (in millions of tons)10.7 11.1 unchanged

Plant Nutrition North America Segment sales volumes (in thousands of tons) 340 365 unchanged

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

Consolidated and Corporate Outlook Low High Low High

Consolidated EBITDA $330 $370 unchanged

Corporate and other expense* $50 $52 $50 $55

Interest expense $76 $78 $77 $80

Depreciation, depletion and amortization $135 $138 unchanged

Capital expenditures $95 $100 $100 $110

Effective tax rate ~29% ~30%

*Excludes non-cash items of depreciation, amortization and stock-based compensation.

Non-GAAP Reconciliations

40

Reconciliation of Non-GAAP Information

41

Reconciliation for EBITDA and Adjusted EBITDA (unaudited)(in millions)

Twelve months ended June 30, 2020

Net earnings $ 96.0

Interest expense 71.6

Income tax expense 34.5

Depreciation, depletion and amortization 137.0

EBITDA $339.1

Adjustments to EBITDA:

Stock-based compensation - non cash 8.0

(Gain) loss on foreign exchange (5.3)

Executive transition costs(1) 2.3

Other (income) expense net(2) (1.0)

Adjusted EBITDA $343.1

Total Revenue $1,511.6Adjusted EBITDA Margin 22.7%

(1) The company incurred severance and other costs related to executive transition.(2) Primarily includes interest income..

Reconciliation of Non-GAAP Information

42

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

Twelve months ended June30, 2020

Segment GAAP operating earnings $187.7Depreciation, depletion and amortization 62.1Segment EBITDA $ 249.8Adjustments to EBITDAExecutive transition costs(1) 1.3

Adjusted EBITDA $ 251.1

Segment sales $ 880.1Segment Adjusted EBITDA margin 28.5%

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

Six months endedJune 30, 2020

Six months endedJune 30, 2019

Segment GAAP operating earnings $86.6 $ 66.9Depreciation, depletion and amortization 31.8 30.1Segment EBITDA $118.4 $ 97.0Adjustments to EBITDALogistics impact from flooding(2) - 2.8

Adjusted EBITDA $118.4 $ 99.8

Segment sales $409.6 $ 419.0Segment Adjusted EBITDA margin 28.9% 23.8%

(1) The company incurred severance and other costs related to executive transition.(2) The Company incurred additional logistics costs related to Mississippi River flooding.

Reconciliation of Non-GAAP Information

43

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

Twelve months ended Dec. 31,

2019 2018Segment GAAP operating earnings $ 168.0 $ 115.7

Depreciation, depletion and amortization 60.4 56.2

Segment EBITDA $ 228.4 $ 171.9Adjustments to EBITDA

Executive transition costs(1) 1.3 -Logistics impact from flooding(2) 2.8 -

Adjusted EBITDA $ 232.5 $ 171.9

Segment sales $ 889.5 $ 858.1Segment Adjusted EBITDA margin 26.1% 20.0%

(1) The company incurred severance and other costs related to executive transition.(2) The Company incurred additional logistics costs related to Mississippi River flooding.

Reconciliation of Non-GAAP Information

44

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

(in millions)12 months ended

June 30, 2020Segment GAAP operating earnings $ 79.9Depreciation, depletion and amortizationEarnings in equity method investee

63.60.8

Segment EBITDA $ 144.3

Segment sales $621.6

Segment EBITDA margin 23.2%