PotashCorp.com

Q1 2014 Conference CallApril 24, 2014

Forward-looking Statements

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First-Quarter 2014 Highlights

• Earnings of $0.40 per share1; trailed the $0.63 per share earned in 2013

• Notable items in results included:

• $69 million special dividend received from ICL ($0.06 per share)

• $38 million impairment charge recorded on Sinofert investment ($0.04 per share)

• Cash provided by operating activities of $539 million

• Repurchased 11.7 million common shares at an average cost of $34 per share

• Market value of investments $5.4 billion, or $6 per PotashCorp share2

Source: PotashCorp

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Gross Margin Decrease Due to Lower Prices Across All Nutrients

Quarterly Gross Margin Comparison

Source: PotashCorp

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Sugar Palm Oil Wheat Corn Soybeans0

2

4

6

8

10

12

14

16

18

20 Chart Title

Source: Bloomberg, PotashCorp

Agricultural FundamentalsUnderlying Support for Robust Fertilizer Demand

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Percentage Price Change: Jan 1 – Apr 21, 2014 Fertilizer Affordability Index

0

50

100

150

200

250

300

350

400

450 Crop Price Index*Fertilizer Price Index**

Source: Fertecon, CRU, Industry Publications, PotashCorp

World Potash DemandPotential for Record or Near-record Global Shipments

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China India Other Asia

Latin America

North America

0

2

4

6

8

10

12

14 2013 2014F Record

Million Tonnes KCl

Potash Shipments by Major Market

Global Potash Shipments by Half

1H 2012

1H 2013

1H 2014F

2H 2012

2H 2013

2H 2014F

10

15

20

25

30

Million Tonnes KCl

Source: Fertecon, CRU, PotashCorp

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

F50

55

60

65

70

75

80

85

90

95

100

Percent*

Expected to Rise on Increased Demand and Reduced Operational Capability

Global Potash Operating Rate

Historical Average (20 year)

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Source: Fertilizer Week, PotashCorp

Select Global Potash Spot PricesPrices Have Strengthened in All Spot Markets Since the End of 2013

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0%

2%

4%

6%

8%

10%

12%

Percentage Change: Jan 1 – Apr 17, 2014

Jan-13 Apr-13 Jul-13 Oct-13 Jan-14 Apr-14250

300

350

400

450

500 Brazil CFR (US$/MT)US Midwest Del (US$/ST)SE Asia CFR (US$/MT)

US$

49.2%

PotashCorp Other Canpotex Members

Source: Company Reports, PotashCorp

Increasing Canpotex Entitlement in Second Half

PotashCorp’s Opportunity

Percentage of Canpotex Entitlement

>53%

PotashCorp Other Canpotex Members

First-half 2014 Second-half 2014 (Estimate)*

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Source: USDA, PotashCorp

Potash

Further Improvement Expected in Each Nutrient

Per-tonne Cost of Goods Sold

2012 2013 2014F0

50

100

150

200US$ per tonne

Nitrogen

2012 2013 2014F0

50

100

150

200

250

300US$ per tonne

Phosphate

2012 2013 2014F0

50

100

150

200

250

300

350

400

450US$ per tonne

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2014 Guidance*

Second Quarter

• Earnings per share: $0.40-$0.45

Full Year

• Earnings per share: $1.50-$1.80

• Potash gross margin: $1.1-$1.3 billion

• Potash sales volumes: 8.3-8.7 million tonnes

• Nitrogen and phosphate gross margin: $1.0-$1.2 billion

Source: PotashCorp

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2014 Guidance*

Full Year

• Capital expenditures**: ~$1.1 billion

• Annual effective tax rate: 26-28 percent

• Provincial mining and other taxes: 16-18 percent of total potash gross margin

• Income from offshore investments***: $230-$240 million

• Selling and administrative expenses: $225-$235 million

• Finance costs: $165-$175 million

Source: PotashCorp

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