2. Highlights Strong and growing Roundup business Growing biotechnology business with great upside Leadership position in genomics/seeds Broadest and deepest pipeline in industry Strong and growing Roundup business Growing biotechnology business with great upside Leadership position in genomics/seeds Broadest and deepest pipeline in industry Monsanto is Transforming Agriculture

3. Monsanto Is Unique INNOVATION IN: Technology Production Marketing INNOVATION IN: Technology Production Marketing

4. Roundup Brand Is Leading Global Herbicide 2000 Glyphosate Revenues $ in Billions Monsanto (Roundup) Syngenta (Touchdown) Dow (Glyphomax) Chinese and Other Generics Source: Phillips McDougall

5. Substantial Growth Remains for Roundup Brand in Two Key Segments Con-Till Opportunity Acres in Millions Roundup on 60+% of Con-Till Acres Roundup Ready Opportunity Acres in Millions

6. Biotech Is Transforming Agriculture INNOVATION IN: Technology Production Marketing INNOVATION IN: Technology Production Marketing

7. First Mover Advantage In Traits And Technology Monsanto Aventis DuPont Pioneer Syngenta Dow More than 90% global share of biotech traits 28% of all agricultural biotech/genomics patents filed USDA Approvals 52% of all USDA product approvals received

8. Seeds and Genomics Are Foundation for Future INNOVATION IN: Technology Production Marketing INNOVATION IN: Technology Production Marketing

9. PLATFORM/LAUNCH*SHORT-TERM(2001-2002)MEDIUM-TERM(2003-2005)LONG-TERM (2006 and beyond) CROP YIELD AND PRODUCTIVITY Refresh Current Seed Portfolio with: 130 New Corn Hybrids 130 New Corn Hybrids 150 New Soybean Varieties 150 New Soybean Varieties 20 New Other Oilseed Varieties 20 New Other Oilseed Varieties 20 New Wheat Varieties 20 New Wheat Varieties Higher-Yielding Soybeans Higher-Yielding Soybeans Higher-Yielding Canola Higher-Yielding Canola Additional New Hybrids and Varieties in Key Crops Additional New Hybrids and Varieties in Key Crops Higher-Yielding Corn Higher-Yielding Corn Higher-Yielding Cotton Higher-Yielding Cotton Specialized Seed Corn Specialized Seed Corn Drought-Tolerant Corn Drought-Tolerant Corn Cold-Tolerant Corn Cold-Tolerant Corn Additional New Hybrids and Varieties in Key Crops Additional New Hybrids and Varieties in Key Crops INSECT AND DISEASE MANAGEMENT YieldGard Corn Root Worm-Protected Corn YieldGard Corn Root Worm-Protected Corn Second-Generation Bollgard Cotton Second-Generation Bollgard Cotton Latitude Fungicide Latitude Fungicide Roundup Ready and Insect- Protected Soybeans Roundup Ready and Insect- Protected Soybeans Second-Generation YieldGard Corn Second-Generation YieldGard Corn Extended Control Seed Treatment Extended Control Seed Treatment Enhanced Bollgard Cotton Enhanced Bollgard Cotton WEEDMANAGEMENT Roundup Ready Corn Roundup Ready Corn Roundup Ready Sugar Beets Roundup Ready Sugar Beets Roundup Ready Wheat Roundup Ready Wheat Roundup Ready Rice Roundup Ready Rice Roundup Ready Alfalfa Roundup Ready Alfalfa Enhanced Roundup Ready Cotton Enhanced Roundup Ready Cotton FEED AND FOOD Improved-Energy Corn Improved-Energy Corn Corn Enhanced with Essential Amino Acids Corn Enhanced with Essential Amino Acids Improved-Protein Soybeans Improved-Protein Soybeans High-Oil Canola High-Oil Canola High-Oil Soybeans High-Oil Soybeans Improved-Oil Soybeans Improved-Oil Soybeans Zero-Saturate Soybeans Zero-Saturate Soybeans *Subject to technological success and regulatory approval Product Pipeline

11. Financial Information First-Half 2001 Results (excluding special items) First-Half 2001 Results (excluding special items) 2000 Results (excluding special items) 2000 Results (excluding special items) $ in Millions

13. CFO Business Support Support Strategy StrategyTreasuryAuditController Investor InvestorRelations Tax Europe/ Africa Africa Asia/Pac Latin LatinAmerica Monsanto Finance Organization

14. Increase Organizational Effectiveness Increase Organizational Effectiveness – People Development, Placement & Goals – Training – Recruiting – Employee Satisfaction Improve Operations & Systems Improve Operations & Systems – Approval Process – Budget & Forecasting Process – System Optimization and Closing Process Improvement – Internal & External Reporting Achieve Financial Objectives Achieve Financial Objectives – Balance Sheet Management – Working Capital Management – Long Term Financial Plan Increase Organizational Effectiveness Increase Organizational Effectiveness – People Development, Placement & Goals – Training – Recruiting – Employee Satisfaction Improve Operations & Systems Improve Operations & Systems – Approval Process – Budget & Forecasting Process – System Optimization and Closing Process Improvement – Internal & External Reporting Achieve Financial Objectives Achieve Financial Objectives – Balance Sheet Management – Working Capital Management – Long Term Financial Plan Key Initiatives

15. What Influences Career Progression? WorkExperiencesAndPerformance Competency Development Personal & ProfessionalGoals

16. Willing to relocate Desire to learn more about the business An Example of an Early Career Path WorkExperiences Competency Development Goals Business Internship Communication Skills Accounting Skills Want to live in St. Louis Interested in Treasury Job #1 CreditAnalyst Credit Analyst Mfg Accounting Job #2 Mfg Analyst Iowa Job #3 StaffAuditor ImproveTeamSkills Improve Problem Solving Skills Interest in global experience

17. Potential Entry Organizations Credit Business Analysis Manufacturing Analysis R&D Analysis General Accounting Global Consolidations & Analysis Travel Accounting Disbursement Controls Analysis Management Reporting External Reporting Budgets/Forecast/Planning Strategy & Long Range Planning