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[PHOTO OF W. Kim Foster] W. Kim Foster
Vice President and General
Manager,
Agricultural Products Group
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[PIE CHART]
Agricultural Products
2000 Forecast
Energy Systems
28%
Food and Transportation
21%
Industrial Chemicals
20%
Specialty Chemicals
13%
Agricultural Products
18%
$700M
Total FMC Sales = $3.9 Billion
FMC
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Agricultural Products
Segment capital employed
Food & Transportation
15%
Industrial Chemicals
26%
Specialty Chemicals
23%
Agricultural Products
20%
Energy Systems
16%
Total September 2000 capital employed = $2.7 Billion
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Agricultural Products
1999 Product Comparison
[PIE CHART]
[PIE CHART]
Herbicides Herbicides
50% 24%
Insecticides Insecticides
26% 76%
Fungicides
20%
Other
4%
Industry Sales of $29B FMC Sales of $0.6B
Source: Wood MacKenzie, FMC
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Agricultural Products
1999 Geographic Comparison
[PIE CHART] [PIE CHART]
North America North America
30% 40%
Europe Europe
30% 14%
Asia Asia
25% 23%
Latin America Latin America
15% 23%
Industry Sales of $29B FMC Sales of $0.6B
Source: Wood MacKenzie, FMC
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Agricultural Products
1999 Crop Comparison
[PIE CHART] [PIE CHART]
Other Other
16% 15%
Rice Rice
10% 14%
Corn Corn
12% 19%
Cotton Cotton
8% 20%
Cereals Cereals
17% 4%
Soybeans Soybeans
9% 9%
Fruits/ Veg Fruits/ Veg
28% 19%
Industry Sales of $29B FMC Sales of $0.6B
Source: Wood MacKenzie, FMC
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Agricultural Products
What is our message
- We have recovered in 2000
- We compare favorably to Tier 1 companies
- Our current initiatives will drive 10% EBIT growth in the near term
- We are excited about the longer term promise of our new discovery paradigm
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Agricultural Products
Industry Sales and Profits
Tier 1 Company Sales ($B) Tier 1 Company EBITDA ($B)
[BAR GRAPH] [BAR GRAPH]
1996 Approximately 25.0 1996 Approximately 4.1
1997 Approximately 25.0 1997 Approximately 4.5
1998 Approximately 26.0 1998 Approximately 3.7
1999 Approximately 24.0 1999 Approximately 3.2
Source: Wood MacKenzie
FMC
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Agricultural Products
Segment Sales($M)
[Bar Graph A]
750 --
650.2
647.8
637.6
632.4
500
250
0
1996 1997 1998 1999 2000 Fcst
Segment EBIT($M)
[Bar Graph B]
100
93.7
80 --
76.3
64.3
60
40
35.1
20
0
1996 1997 1998 1999 2000 Fcst
FMC
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Agricultural Products
2000 in Review
- Market contracts for 4th consecutive year, competition intensifies
- North America rebounds on "normal" pest pressure and continued growth of
herbicides
- Brazil begins recovery from maxi-devaluation of January 1999
- Cost reduction efforts continue to pay dividends
- Development decision on new broadleaf herbicide
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Agricultural Products
Start-up challenges for sulfentrazone are behind us
% of Capacity % of 1st Year Cost
[BAR GRAPH] [BAR GRAPH]
1997 23.0 1997 100.0
1998 47.0 1998 62.0
1999 73.0 1999 43.0
2000Fcst 83.0 2000 Fcst 33.0
FMC
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Agricultural Products
Industry Outlook
- Depressed farm sector will limit industry growth
- Slowing of crop biotechnology growth in near term
- Continued industry consolidation
- Evolving societal themes are changing the profile of new products
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Agricultural Products
Strategy - Focused Innovation
- Focusing market initiatives
- Cost and balance sheet restructuring
- Attract and retain best people
- Insecticide-based discovery
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Agricultural Products
Rate of industry innovation slowed
significantly in the 1990s
Herbicides Insecticides
Top 25 products in 1997
% of market 60% 67%
No. of Top 25 launched
before 1990 24 24
Average age of Top 25 25 years 32 years
products
Source: Wood Mackenzie, Agrow, FMC, and Arthur D. Little analysis
FMC
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Agricultural Products
Cost of innovation has escalated significantly
Total Industry R&D Spending over Number of New Product Launches
[Bar and line graph]
1980 1985 1990 1995 1997 1998
Number of new product launches
(Total industry) 66 79 226 365 156 235
Total industry R&D spending
(million $ approximate) 100 125 150 180 220 250
Source: Wood Mackenzie, Agrow, FMC, and Arthur D. Little analysis
FMC
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Agricultural Products
New classes of chemistry have yielded
blockbuster products
- Finding new molecular target sites sensitive to chemicals can provide a rapid
and cost effective means of uncovering new classes of insecticides
- FMC partnership with Devgen provides key technologies
- The first target site generated by this partnership is entering high
throughput screening
- It will take two years to assess potential of new chemistries
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Agricultural Products panel
W. Kim Foster Vice President and General Manager
Agricultural Products Group
L. Kenny Cordell Director
North America Operations
P. David Simcox Director
Research and Development
Milton Steele Director
International Operations
