What changed in this filing

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Item 1. Legal Proceedings

2026-05-11 compared with 2025-11-05 · 23 added, 6 removed, 55 unchanged (35% of the section changed)

14 unchanged sentences

These litigation challenges remain underway.

The CAFC is reviewing a challenge to DOC’s final determination in the CVD investigation for Russia;

the CIT is reviewing the DOC’s second remand redetermination for the CVD investigation for Morocco and first remand redetermination for the first administrative review for Morocco;

and the ITC recently reaffirmed its original affirmative injury finding in a second remand redetermination, which is also being reviewed by the CIT and briefing is underway.

CIT is reviewing the DOC’s second remand redetermination for the CVD investigation for Morocco.

The DOC is conducting a second remand redetermination for the first administrative review for Russia, which will be reviewed by the CIT.

The ITC recently reaffirmed its original affirmative injury finding in a second remand redetermination, which is also being reviewed by the CIT and briefing is underway.

The CAFC is reviewing Mosaic’s challenge to the DOC’s determination in the first administrative review for Morocco.

When a CVD order is in place, DOC normally conducts annual administrative reviews, which establish a final CVD assessment rate for past imports during a defined period, and a CVD cash deposit rate for future imports.

4 unchanged sentences

Mosaic, as well as parties that oppose the duties, have appealed the final results of DOC’s first and second administrative reviews to the CIT.

Currently, DOC is conducting a third administrative review for imports from Russia, covering calendar year 2023.

DOC is not conducting an administrative review for Morocco for this period.

In April 2026, DOC announced the final results of the third administrative review for the CVD order on phosphate fertilizers from Russia, covering calendar year 2023.

DOC calculated a subsidy rate of 12.71% for Joint Stock Company Apatit, the only Russian producer subject to review.

The applicable final CVD assessment rates and cash deposit rates for imports of phosphate fertilizer from Morocco and Russia could change as a result of these various proceedings and potential associated appeals, whether in federal courts or at the World Trade Organization.

19 unchanged sentences

In late March 2023, the court denied defendants’ motions to dismiss.

On December 22, 2025, the court heard argument on co-defendants’ motion for partial summary judgment based on their claim that the court lacked subject matter jurisdiction over the plaintiffs’ demands for injunctive relief.

Under the state’s Local Action Rule, where the relief being sought would directly affect real property in Polk County, the court must have territorial jurisdiction over the property in order to have the requisite subject matter jurisdiction.

Because the plaintiffs seek to excavate real property in Polk County, the court concluded on February 20, 2026 it did not have jurisdiction.

It granted the summary judgment motion based on the local action rule, and not on the merits of plaintiffs’ claims.

The court’s decision was not appealed.

Plaintiffs subsequently filed the dismissed claims in Polk County against co-defendants, but not Mosaic.

We continue to vigorously defend this matter.

11 unchanged sentences

James Parish Department of Emergency Preparedness on March 14, 2024, and we completed installation and began operation of the ammonia monitors on April 24, 2024.

Important risk factors that apply to us are outlined in Item 1A in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 (the “ 10-K Report ” ).

Administrative Sanction Proceeding, Compañía Minera Miski Mayo S.R.L.

In January 2026, OEFA, Peru’s national environmental authority, issued a Penalty Proposal Report and a Final Instruction Report in connection with an administrative sanctioning proceeding arising from a 2023 administrative review at Compañía Minera Miski Mayo’s Fosfatos Bayóvar location.

OEFA is responsible for environmental oversight, supervision and the sanctioning of regulated activities in Peru.

The proceeding consolidates four alleged instances of non‑compliance with applicable environmental laws, involving (i) drainage channels in the mine area;

(ii) drainage channels at the coarse tailings pile;

(iii) progressive closure obligations at the North waste rock dump;

and (iv) an alleged exceedance of applicable wastewater limits.

The Final Instruction Report closed the investigation phase of the administrative sanctioning proceeding and initiated the defense phase.

On February 5, 2026, Miski Mayo submitted its defense to OEFA’s Decision Authority,which by the end of February issued a first instance decision confirming the full amount of the penalty initially imposed.

Miski Mayo would be permitted to seek judicial review of OEFA's final decision, if desired, before the Peruvian courts.

Miski Mayo intends to vigorously defend this matter and seek judicial review before the Peruvian courts, if needed.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Legal Proceedings