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## A t T h e F o r e f r o n t O P E R AT I O N A L E X C E L L E N C E 

We have long been a company known for its operational excellence. Our ability to grow earnings by reducing costs is well respected – whether that’s by increasing efficiency, reducing energy consumption, debottlenecking capacity or any other of the “blocking and tackling” aspects of running operations. This year, we took a hard look at the successful ways we’ve done things in the past in an effort to find ways to do things better going forward. 

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## Harnessing The Power of Common Ownership 

We see opportunity in doing things as one FMC where it matters. In 2010, we began the transition from a highly decentralized organizational model to one more balanced. For example, in global procurement, whose task is to realize significant supply chain cost savings over the next five years, we began to transform our activities from a decentralized, tactical buying model to that of a global strategic sourcing model – one where procurement 

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becomes best in class and works hand in hand with our businesses so we are delivering what they need and enhancing profitability. 

## Expanding Operations to Support Our Growth 

Our experienced operating teams have a strong track record of delivering superior financial returns on the assets under their control. Using the disciplined evaluation metrics we have consistently employed, we are selectively expanding operations worldwide to meet the increasing demand in key markets. 

To serve the high growth energy storage and pharma- ceutical markets for lithium, we are expanding our mining operations high in the Andes of Argentina. To capture increasing demand for food ingredients and pharmaceutical excipients, we are expanding our BioPolymer operations in Cork, Ireland, and Haugesund, Norway. 

In Prince George, British Columbia, we are installing a hydrogen reformer to more cost effectively serve peroxygens markets. And in Green River, Wyoming, we are restarting our Granger soda ash facility to meet growing export demand. 

Though change is often difficult, especially when “nothing is broken,” it’s best done from a position of strength. That’s precisely what we are doing. 

