On January 25, 2016, Potash Corporation of Saskatchewan Inc. entered into the Fourth Amending Agreement with the lenders named therein and The Bank of Nova Scotia, as agent. The Fourth Amending Agreement amends the original credit facility, made as of December 11, 2009 among the company, the lenders named therein and the Agent. The amendments to the Credit Facility include, among others: The extension of the maturity date for the Credit Facility from May 31, 2019 to May 31, 2020.

An increase in the maximum ratio permitted by the debt to capital covenant from 0.60:1 to 0.65:1. The elimination of the long term debt to EBITDA covenant in its entirety.