Americas Agriculture: US suspends duties on Moroccan phosphate; Unlikely to impact US prices in our view

Research evidence excerpt

Americas Agriculture: US suspends duties on Moroccan phosphate; Unlikely to impact US prices in our view

Goldman Sachs Americas Agriculture

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We, Duffy Fischer, Jordan Lee, Mike Harris and Ramsey Abdulrahim, hereby certify that all of the views expressed in this report accurately reflect our

personal views about the subject company or companies and its or their securities. We also certify that no part of our compensation was, is or will be,

directly or indirectly, related to the specific recommendations or views expressed in this report.

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Contributing Authors: Duffy Fischer Goldman Sachs & Co. LLC, Jordan Lee Goldman Sachs & Co. LLC, Mike Harris Goldman Sachs & Co. LLC, Ramsey

Abdulrahim Goldman Sachs & Co. LLC.

Unless otherwise stated, the individuals listed in the Contributing Authors disclosure of this report are analysts in Goldman Sachs’ Global Investment

Research division.

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