IN VESTOR PR ESEN TATION F E B R U A R Y 2 2 - 2 3 , 2 0 1 7 - - PowerPoint PPT Presentation

P R O S P E R I T Y T H R O U G H I N V E S T M E N T

IN VESTOR PR ESEN TATION

F E B R U A R Y 2 2 - 2 3 , 2 0 1 7

FORWA R D - LOOK IN G STATEMEN TS

This presentation may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation statements about introducing Produquímica products into North America, capital spending and capital projects; the company’s ability to develop best-in-class safety, ensure asset longevity, drive efficiency, build on its base, achieve more balanced business, improve its strategies and maximize potential; SOP pricing; the highway deicing industry; and the company’s outlook for the first half of 2017 and the full year of 2017, including its expectations regarding earnings per share (“EPS”), volumes, average selling prices, operating earnings margin, corporate and other expense, interest expense, capital expenditures, depreciation, depletion and amortization and tax rates. The company uses words such as “may,” “would,” “could,” “should,” “will,” “likely,” “expect,” “anticipate,” “believe,” “intend,” “plan,” “forecast,” “outlook,” “project,” “estimate” and similar expressions suggesting future outcomes

• r 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) weather conditions, (ii) the impact of competition on the sales of our products, (iii) the inability to fund necessary capital expenditures or successfully complete capital projects, (iv) foreign exchange rates, (v) increasing costs or a lack of availability of transportation services, and (vi) the ability to integrate acquired businesses and realize anticipated benefits from acquisitions. 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, 2016 and its Quarterly Report on Form 10-Q for the quarters ended March 31, June 30 and September 30, 2016 filed or to be 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.

2

Salt Plant Nutrition

A LEA D ER IN STR ON G, D IVER SE MA R K ETS W ITH U N IQU E A SSET B A SE

• A leading supplier of deicing products

in North America and the U.K.

• Advantaged rock salt mining assets
• World’s largest North American mine

strategically located on deep-water port and largest dedicated salt mine in the U.K.

• A key producer of high-quality salt for

consumers and industry in North America

• A growing specialty plant nutrition

business

• The largest sulfate of potash (SOP)

specialty fertilizer producer in the Western Hemisphere

• A micronutrient business based on patented

technology

• Acquired Brazilian specialty plant nutrition

company Produquímica Indústria e Comércio (Produquímica) in October 2016

3

2016 adjusted EBITDA*

2 0 1 6 S A L E S = $ 1 . 1 B I L L I O N

$275 million

2016 adjusted

EBITDA* margin

24%

*Non-GAAP measure. See appendix for reconciliation.

OU R SA LT B U SIN ESS

• Highway deicing
• Rock salt and other deicers sold to

municipal, county and state/provincial governments

• Rock salt sold to chemical producers
• Consumer and industrial
• A broad range of non-seasonal packaged

and bulk products

• Water conditioning
• Animal nutrition
• Many industrial applications, including food
• Packaged deicers
• Basic, blended and premium products
• Advantaged assets
• Goderich, Ontario
• World’s largest rock salt mine
• Size and geology enable mining efficiencies
• Deep-water port and distribution network

support efficient shipping

• Winsford, Cheshire, U.K.
• U.K.’s largest dedicated rock salt mine
• Geology and environment support storage

businesses

4

Great Britain

Salt Production Locations

Primary highway deicing markets Underground salt mining Mechanical evaporation Solar evaporation Packaging plant

Highway Deicing Consumer & Industrial

2 0 1 6 S a l t S e g m e n t S a l e s b y P r o d u c t

2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 $0 $10 $20 $30 $40 $50 $60 $70 $80 $90 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 93 175 226 150 160 169 111 189 186 143 134

5

Salt Segment Price & Volume

Short Tons Sold Snowfall Events**

Average Sales Price

(Dollars per ton)

*Non-GAAP measure. See appendix for reconciliation. **The sum of days with one or more inches (~2.5 cm) of snow in 11 selected U.S. and Canadian cities in CMP’s service area, as reported by the NOAA National Weather Service, Environment Canada.

SA LT: STR ON G FIN A N C IA L ATTR IB U TES D ESPITE W EATH ER VA R IA B ILITY

• Geology of rock salt mines enables

production efficiencies

• High-quality, low-cost salt and magnesium

chloride assets

Superior Assets

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

Logistical Advantages

• Transportation costs limit imports
• Significant barriers to entry

Insulated Markets

• Vertically integrated raw-materials for

specialty products

• Low-cost rock salt advantage in packaged

deicing products

Strong Deicing Portfolio

Salt Segment 2016 Snapshot (in millions)

Sales $812 EBITDA* $247 EBITDA* margin 31%

(Thousands of tons)

B U ILD IN G A LEA D IN G SPEC IA LTY PLA N T N U TR ITION B U SIN ESS

6

Plant Nutrition 2016 Snapshot*

(Pro forma, in millions)

Sales $560 Adjusted EBITDA** $125 Adjusted EBITDA** margin 22%

*Includes unaudited amounts for full-year Plant Nutrition North America and the three months ended December 31, 2016 for Plant Nutrition South America combined with pro forma revenue and EBITDA from Produquimica for nine-months ending September 30, 2016 See slide 20. **Non-GAAP measure. See appendix for reconciliation.

Purchased Wolf Trax in 2014, leader in dry dispersible powder micronutrients Expanded into Brazil with acquisition of Produquímica Largest producer of SOP in Western hemisphere

Plant Nutrition North America Plant Nutrition South America

2 0 1 6 P l a n t N u t r i t i o n S a l e s b y S e g m e n t

Now two segments: Plant Nutrition North America Plant Nutrition South America

VA LU E TO EN D - U SER S D R IVES SPEC IA LTY PLA N T N U TR IEN T D EMA N D

7

• 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 for crop yield, quality and marketability

• Micronutrients and other specialty

plant nutrients promote:

• Stronger, larger roots
• More consistent early-stage growth
• Better stress tolerance
• Enhanced color and flowering

50% to 60% of Compass Minerals SOP sales

Tree nuts Citrus Tobacco Strawberries

High Low

Avocado Lettuce Grapes Other berries Potatoes Alfalfa Tomato

Chloride Sensitivity

SOP Production Sites

Ogden, UT Wynyard, Saskatchewan

COMPASS MINERALS COMPETITIVE A D VA N TA GE IN PR EMIU M POTA SSIU M

8

Fruit, Potatoes Fruit, Vegetables, Nuts, Turf Fruit, Vegetables, Turf Turf, Tobacco

30% 25% 15% 30%

North American SOP Consumption*

Other, including turf and horticulture Tree nuts Vegetables Fruits

*Annual consumption based on company estimates.

• Only North American SOP producer
• Unique asset at Ogden with low-cost solar

evaporation SOP production

• Can expand production by adding muriate of

potash (MOP)

• Historically hold 70% to 80% of North

American SOP market

• Logistically favorable to key high-value

specialty crop markets

• Import competition from Europe and

South America

• Can vary depending upon foreign exchange

rates, fuel costs and MOP price

• About 50% of global SOP production uses

high-cost chemical conversion process that begins with MOP

M I C R O N U T R I E N T S : K E Y E L E M E N T S F O R P L AN T H E ALT H

• Essential minerals that maximize

the health of all crops

• Highly fragmented market in North

America and Brazil

• Nutrient-deficient soil profile in

Brazil requires comprehensive plant nutrient mix to ensure yield

• Brazilian growers increasingly turn

to technology-driven solutions

• Specialty product application rates

growing at higher rate than NPK fertilizers

9

Cu B Cl Mo Ni Zn Co Mn

Mg S Ca

N K P

PLA N T N U TR ITION SOU TH A MER IC A : ATTR A C TIVE PR OD U C T POR TFOLIO

10

Agriculture

Agriculture = 73% of 2016 revenue

*Includes new products introduced since 2010. **Source: Company estimates.

Chemical Solutions

• Soil nutrients: micronutrients,

secondary nutrients and other supplements

• Technology products: controlled

and slow release formulations

• Nutritional supplements for cattle

poultry and dairy cows Chemical solutions = 27% of 2016 revenue

• Caustic soda and chlorine for

municipal and industrial clients to treat waste water

• Process chemicals for industrial

customers, including oil and gas, mining, pulp and paper and others

Almost ½ of Brazil’s population lacks access to sewage systems** Less than 40% of sewage in Brazil currently treated**

AGRICULTURE PRODUCT SALES

~65%

DIRECTLY TO FARMS

50%

• f 2016 agriculture

revenue from

NEW PRODUCTS*

EXPA N D ED PLA N T N U TR ITION B U SIN ESS OFFER S MOR E B A LA N C E

• Completing Produquímica acquisition

is a key step to becoming a global leader in specialty plant nutrition

• Expands product portfolio
• Diversifies geographic footprint and

served markets

• Enhances research and development

capabilities

• Establishes new reporting segment,

Plant Nutrition South America

• Brazil’s plant nutrition strength

balances weaker fundamentals in the U.S. in 2016

• Strong U.S. currency benefits

Brazilian farm income while challenges U.S. commodity prices

• Expect to begin introducing

Produquímica products into North American markets over next 12 months

11

11 33 334 1447

Number of Product Categories Number of SKUs

59% 41% 78% 22% Salt After PDQ Acquisition

Revenue by Business 2015 Pro Forma 2016

Plant Nutrition Before PDQ Acquisition

N EA R IN G C OMPLETION OF MA JOR C A PITA L PR OJEC TS

• Peak period of capital spending complete
• Expect approximately 25% reduction in

capex for 2017 vs. 2016

• Goderich mine: continued commissioning
• f additional continuous miners
• Expect to be complete by end of 2017
• Anticipate $30 million in annual cost

savings once fully implemented

• Goderich Mine: one shaft lining complete
• Second expected to be complete in 2018
• Ogden: new SOP compaction plant

expected to be commissioned in 1Q17

• Ogden: new expanded crystallizer in SOP

facility expected to be commissioned mid- year 2017

12

$0 $40 $80 $120 $160 $200 2016 2017 2018

Base MOB Plant Nutrition South America Special MOB Investment Capital ~25%

($ in millions)

2016-2018 Capital Plan

~25%

PLATFOR M FOR GR OW TH

13

BUILD ON ESSENTIAL MINERALS BASE; ACHIEVE MORE BALANCED BUSINESS DEVELOP BEST-IN-CLASS SAFETY; ENSURE LONGEVITY OF KEY ASSETS DRIVE EFFICIENCY THROUGHOUT OPERATIONS

STRENGTHEN GROW IMPROVE

IMPROVE GO-TO-MARKET STRATEGIES; MAXIMIZE MARGIN POTENTIAL

P R O S P E R I T Y T H R O U G H I N V E S T M E N T

2017 OUTLOOK

( AS OF FEBR U ARY 8, 2017)

14

W I N T E R W E AT H E R R E T U R N E D TO S O M E K E Y N O R T H AM E R I C A N M AR K E T S

• Stronger snow events in 4Q16 vs.

prior year

• Snow events tracked by company in 11 key

cites were up 194% vs. very mild 4Q15

• Regional variances in weather with most

snow occurring in northern markets

• Average to below-average winter weather in

central and southern U.S. markets and the U.K.

• Profitability remained robust despite mild

winter impact on volumes and price throughout 2016

• Lower per-unit logistics costs
• Improved profitability in consumer and

industrial business

• Improvements offset partially by higher

production cost in 4Q16 due to lower

• perating rates at salt mines and unplanned

downtime at Goderich mine

15

17.9% 19.7% 20.8% 25.3% 24.7% 2012 2013 2014 2015 2016

Salt Segment Adjusted Operating Margin**

42.2 17 50

10 Year Avg 2015 2016

4th Quarter Snow Events*

*The number of snow events in 11 cities in Compass Minerals’ primary North American deicing region compared with the 10-year average number of snow events, which is the mean number of snow events for the periods ended in the 2015-2016 season. For more information, please see the Investor Resources section of the company’s investor relations site at www.compassminerals.com **Non-GAAP measure. See appendix for reconciliations.

PLA N T N U TR ITION : STR ON G FIN ISH TO 2016 IN N OR TH A MER IC A A N D B R A ZIL

• Demand in North America sparked by

increased affordability

• 4Q16 sales volumes increased 53%
• vs. 4Q15
• 2016 SOP imports down 28% from

2015; pricing remains stable but competitive

• Brazil plant nutrition market maintained

strength

• 2016 sales volumes increased 9% from

prior year

• Supported by strong crop economics

and good growing conditions

16

20 40 60 80 100 $0 $150 $300 $450 $600 $750 1Q16 2Q16 3Q16 4Q16 Average price per ton Sales volumes 2015 2016

• 28%

SOP Pricing Stabilizing SOP Imports into North America*

*Source: Compass Minerals research; Datamyne. Tons in thousands

1H 17 A N D FY17 OU TLOOK

( A S O F F E B . 8 , 2 0 1 7 ) 2017 OUTLOOK: FULL YEAR EPS - $3.20 to $3.70

Salt Segment 1H17 FY17

Volumes 6.1 million to 6.5 million tons 11.8 million to 12.6 million tons Average Selling Price (per ton) $66 to $70 Operating Earnings Margin 16% to 18%

Plant Nutrition North America Segment

Volumes 145,000 to 165,000 tons 300,000 to 330,000 tons Average Selling Price (per ton) $615 to $645 Operating Earnings Margin 11% to 13%

Plant Nutrition South America Segment

Volumes 360,000 to 390,000 tons 800,000 to 1.1 million tons Average Selling Price (per ton) $380 to $410 Operating Earnings Margin break-even

Corporate

Corporate and Other Expense ~$60 million Interest Expense ~$52 million Capital Expenditures $125 million to $140 million Depreciation, depletion and amortization ~$125 million Effective Tax Rate ~28%

17

P R O S P E R I T Y T H R O U G H I N V E S T M E N T

APPENDIX

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P R O S P E R I T Y T H R O U G H I N V E S T M E N T

PLANT NUTRITION SOUTH AMERICA SUPPLEMENTAL INFORMATION

PR O FOR MA QU A R TER LY 2016 PLA N T N U TR ITION SOU TH A MER IC A R ESU LTS*

20

Three months ended

(US$, in millions except foreign exchange rate)

March 31, 2016 June 30, 2016 September 30, 2016 December 31, 2016

Segment sales $ 61.3 $ 71.8 $ 110.1 $ 113.5 Sales excluding shipping and handling 57.8 68.1 104.9 107.2 Operating earnings 2.9 6.1 21.7 8.0 Operating margin 4.7% 8.5% 19.7% 7.0% Adjusted operating earnings** 2.9 6.1 21.7 16.4 Adjusted operating margin** 4.7% 8.5% 19.7% 14.4% EBITDA** 7.4 10.8 26.3 13.3 EBITDA margin** 12.1% 15.0% 23.9% 11.7% Adjusted EBITDA** 7.7 11.1 26.6 21.7 Adjusted EBITDA margin** 12.5% 15.5% 24.2% 19.1% Sales volumes (in thousands of tons) Agriculture 67 101 169 122 Chemical solutions 88 86 83 72 Total sales volume 155 187 252 194 Average selling price (per ton) Agriculture $555 $474 $518 $713 Chemical solutions $272 $281 $269 $372 Total Plant Nutrition South America $394 $385 $436 $587 Assumed US$-to-R$ per quarter 3.59 3.59 3.59 3.27

*Three months ended March 31, June 30, and September 30, 2016 are unaudited, pro forma amounts for the historical results of Produquímica. These amounts assume Compass Minerals acquired Produquímica on January 1, 2016, and include the effects of acquisition accounting for those periods. **Non-GAAP measure. See reconciliation section of presentation.

Product Soy Coffee Sugar Orange Corn Meat Exports

#2 #1 #1 #1 #2 #1

Production

#2 #1 #1 #1 #3 #3 Source: USDA, FAO 62 161 121 107 157 112 48 43 38 23 36

328 108 99 88

12

26 36 33 33 26 12

Arable Land Unavailable Arable Land Available

B R A ZIL A GR IC U LTU R E FU N D A MEN TA LS

21

Brazil’s Leading Position in Key Products

(2014/2015)

Source: 2015 estimates from FAO, Embrapa, Conab, MAPA

Abundant Land Available for Cultivation

(in hectar millions)

P R O S P E R I T Y T H R O U G H I N V E S T M E N T

HIGHWAY DEICING INDUSTRY IN NORTH AMERICA

23

GOVER N MEN T- D IR EC TED SELLIN G PR OC ESS 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
• r volume range, a bid due date and a bid
• pen date
• 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

B ID AWA R D TIMELIN E SH A PES STR ATEGY

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/opened 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/opened 10

• Govt. C RFQ

issued 12 13

• Govt. B Bids

awarded 15 16 17 18 19 20 21 22 23 24

• Govt. C Bids

due/opened 26 27 28

• Govt. C Bids

awarded 30 31 1 2

Illustration of Bid Timeline

24

• Timing is different for each government customer
• Compass Minerals evaluates bid results and adjusts strategy accordingly
• Compass Minerals prepares thousands of bids

T H E G O V E R N M E N T- D I R E C T E D P R O C E S S P R O H I B I T S P R I C E N E G O T I AT I O N

• Bid requests usually include

several delivery points

• 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 Capability Percentage Range Dover 2,000 1,700 2,300 85% - 115% Fairview 6,500 5,200 7,800 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 of Winning Bid* Illustration of Bid Winner* Dover 2,000 $50.00 Competitor A Fairview 6,500 $53.50 Competitor A Franklin 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.

25

A C TU A L SA LES OC C U R MON TH S LATER

26

• 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

11 9 8 10 2.4 4.3 3.6 4.2

2 4 6 8 10 12 14 16

Compass Minerals* K+S** Cargill All Others

STR ON G POSITION IN A C OMPETITIVE IN D U STRY

27

SOURCE: Roskill Information Services 2015 information and company estimates. * Reflects Goderich mine at 8.0 million tons of current capacity, not its 9.0 million-ton potential capacity. ** Also imports salt from South America and the Bahamas.

Rock Salt Evaporated Salt

North American salt production capacity in millions of tons

LOGISTIC S IS A C OMPETITIVE STR EN GTH

28

Mines Depots

P R O S P E R I T Y T H R O U G H I N V E S T M E N T

NON-GAAP FINANCIAL RECONCILIATIONS

29

R EC ON C ILIATION OF N ON - GA A P IN FOR MATION

30

Reconciliation for EBITDA and Adjusted EBITDA (unaudited)

(in millions) 12 months ended December, 31 2016 Revenue

$ 1,138.0

Net earnings

162.7

Interest expense

34.1

Income tax expense

34.6

Depreciation, depletion and amortization

90.3

EBITDA

$ 321.7

Adjustments to EBITDA Gain from remeasurement of equity method investment

(59.3)

Business acquisition-related items(1)

8.4

Indefinite-lived intangible asset impairment

3.1

Other income, net(2)

1.1

Adjusted EBITDA

$ 275.0

Adjusted EBITDA margin

24%

(1) Primarily includes additional expense recognized from the sale of finished goods inventory, which had its cost basis increased to fair value as a result of the acquisition of Produquímica. (2) Primarily includes interest income and foreign exchange gains and losses. The 12 months ended December 31, 2016, include a charge of $3.0 million related to the refinancing of the company’s debt.

R EC ON C ILIATION OF N ON - GA A P IN FOR MATION : SA LT

31

Reconciliation for Salt Segment EBITDA and Adjusted EBITDA (unaudited)

(in millions)

12 months ended December 31, 2016

Segment sales $ 811.9 Segment operating earnings 200.6 Depreciation, depletion and amortization 46.7 Segment EBITDA $ 247.3 EBITDA margin 30.5%

Reconciliation for Salt Segment Adjusted Operating Earnings (unaudited)

(in millions) 12 months ended December 31, 2012 2013 2014 2015 2016 Segment sales $ 703.4 $ 920.5 $ 1,002.6 $ 849.0 $ 811.9 Segment operating earnings 126.0 181.3 291.4 215.2 200.6 Gain from insurance settlement(1)

• (82.4)
• Adjusted segment operating

earnings $ 126.0 $ 181.3 $ 209.0 $ 215.2 $ 200.6 Adjusted segment operating margin 17.9% 19.7% 20.8% 25.3% 24.7%

(1) In the third quarter of 2014, the company reported a gain from an insurance settlement relating to damage sustained by the company as a result

• f a tornado that struck the company’s rock salt mine and evaporated-salt plant in Goderich, Ontario.

R EC ON C ILIATION OF N ON - GA A P IN FOR MATION

32

Reconciliation for 2016 Plant Nutrition North America and Plant Nutrition South America EBITDA (unaudited)

(in millions)

Plant Nutrition North America Segment Pro Forma Plant Nutrition South America Segment(1) Pro Forma Combined Plant Nutrition(1)

Segment sales $ 203.0 $ 356.7 $ 559.7 Segment operating earnings 21.1 38.7 59.8 Depreciation, depletion and amortization 33.4 18.8 52.2 EBITDA $ 54.5 $ 57.5 $ 112.3 Adjustments to EBITDA: Indefinite-lived intangible asset impairment 3.1

• 3.1

Earnings in equity investee

• 1.2

1.2 Business acquisition-related items(2))\\

• 8.4

8.4 Adjusted Segment EBITDA $ 57.6 $ 67.1 $ 125.0 Adjusted Segment EBITDA Margin 28.4% 18.8% 22.3%

(1) Nine months ended September 30, 2016 are pro forma results, assuming Compass Minerals acquired Produquímica on January 1, 2016 and include the effects of acquisition accounting for those periods. (2) Primarily includes additional expense recognized from the sale of finished goods inventory, which had its cost basis increased to fair value as a result of the acquisition of Produquímica.

R E C O N C I L I AT I O N O F N O N - G AA P I N F O R M AT I O N : P L AN T N U T R I T I O N S O U T H AM E R I C A

33

Reconciliation for Plant Nutrition South America Segment Adjusted Operating Earnings (unaudited) (1) (in millions) Three months ended March 31, 2016 June 30, 2016 September 30, 2016 December 31, 2016 Reported GAAP segment operating earnings $ 2.9 $ 6.1 $ 21.7 $ 8.0 Business acquisition-related items(2)

• 8.4

Segment adjusted operating earnings $ 2.9 $ 6.1 $ 21.7 $ 16.4 Segment sales 61.3 71.8 110.1 113.5 Segment adjusted operating margin 4.7% 8.5% 19.7% 14.4%

(1) Three months ended March 31, June 30, and September 30,2016 are unaudited, pro forma amounts for the historical results of Produquímica. These amounts assume Compass Minerals acquired Produquímica on January 1, 2016, and include the effects of acquisition accounting for those periods. (2) Primarily includes additional expense recognized from the sale of finished goods inventory, which had its cost basis increased to fair value as a result of the acquisition of Produquímica.

R E C O N C I L I AT I O N O F N O N - G AA P I N F O R M AT I O N : P L AN T N U T R I T I O N S O U T H AM E R I C A

34

Reconciliation for Plant Nutrition South America EBITDA (unaudited) (1) (in millions) Three months ended March 31, 2016 June 30, 2016 September 30, 2016 December 31, 2016 Plant nutrition S.A. segment GAAP operating earnings $ 2.9 $ 6.1 $ 21.7 $ 8.0 Depreciation, depletion and amortization 4.5 4.7 4.6 5.0 Segment EBITDA $ 7.4 $ 10.8 $ 26.3 $ 13.0 Earnings in equity method investee 0.3 0.3 0.3 0.3 Business acquisition-related items(2)

• 8.4

Adjusted segment EBITDA $ 7.7 $ 11.1 $ 26.6 $ 21.7 Segment sales 61.3 71.8 110.1 113.5 Adjusted segment EBITDA margin 12.5% 15.5% 24.2% 19.1%

(1) Three months ended March 31, June 30 and September 30, 2016 are unaudited, pro forma amounts for the historical results of Produquímica. These amounts assume Compass Minerals acquired Produquímica on January 1, 2016, and include the effects of acquisition accounting for those periods. (2) Primarily includes additional expense recognized from the sale of finished goods inventory, which had its cost basis increased to fair value as a result of the acquisition of Produquímica.