1. Farmer Benefit: Roundup Ready® Corn 2
Expands the Market
Argentina
Key Market Acres U.S. Brazil
Available Market 80M 20M 5M
Percent Penetrated (2006 Forecast) 0% 0%
~41 - 43%
Market Potential is Poised to Accelerate
> 32 M acres of Roundup Ready Corn 2 on order for
Conventional System:
Roundup Ready
Same Roundup Ready Hybrid
System
spring planting in 2006 (U.S.)
8.1 yield
Biotechnology 220
Demonstrated yield improvement in all world areas vs.
advantage
conventional weed control systems based on research
210
and 200
demonstration trials 6.0 yield
Average Bu/A
70
6.0 yield U.S. ROUNDUP advantage
4.4 yield
Roundup Ready Corn 2 advantage 60
READYadvantage
CORN
190
5.4 yield
system becomes #1 weed ACREAGE 50
advantage
180
control system in the U.S GROWTH
MILLIONS OF ACRES
40
5.5 yield
170
corn market
advantage 30
160
Launch Roundup Ready 20
150
Corn 2 in the Philippines 10
2001 2002 2003 2004 2005 5 Year Average
and Honduras in 2005 0
1998 1999 2000 2001 2002 2003 2004 2005 2006F 2008F
Discovery Phase 1 Phase 3 Phase 4
Phase 2 Launch
Proof of Concept Adv. Development Pre-Launch
Pre-
Early Development
1

2. Farmer Benefit: YieldGard® Rootworm
Addresses Pest Infestation
Argentina
Key Market Acres U.S. Brazil
Available Market 25M-30M 5M 1M
Percent Penetrated (2006 Forecast) 0% 0%
~30-33%
YieldGard Rootworm
Forecast of
between 9 - 10 M
Biotechnology
acres in ‘06
Most consistent
rootworm control
in the industry
10 - 20 bushel
average advantage
over competing
germplasm with
insecticides
Up to 30 bushel
Conventional Hybrid YGRW
advantage under
dry conditions West Lafayette,
Springfield, IL, July, 2005
(e.g. Illinois) Indiana, July 2005
Discovery Phase 1 Phase 3 Phase 4
Phase 2 Launch
Proof of Concept Adv. Development Pre-Launch
Pre-
Early Development
2

3. Farmer Benefit: Second-Generation YieldGard
Rootworm Reinvents Stacked Corn Platform
Argentina
Key Market Acres U.S. Brazil
Available Market 25-30M 5M 1M
Percent Penetrated 0% 0%
0%
Second Generation YieldGard® Rootworm
Corn Rootworm Infestation
Genomics
Continues to Expand
Delivered outstanding
Biotechnology
performance for corn
rootworm control and
Roundup Ready® 2
technology in 2005 tests
Monsanto to launch 2nd
generation YieldGard®
Rootworm stacked-traits
while competitors
introduce 1st generation
singles
Obtained full U.S.
regulatory approvals
Discovery Phase 1 Phase 3 Phase 4
Phase 2 Launch
Proof of Concept Adv. Development Pre-Launch
Pre-
Early Development
3

4. Farmer Benefit: Second Generation YieldGard®
Corn Borer Offers Broader Insect Control
Second Generation YieldGard® Corn Borer
Global solution for corn borers, fall armyworm and
corn earworm
16
Genomics Corn Earworm feeding damage 14 days after infestation (June 2004)
Corn Earworm feeding damage 14 days after infestation (June 2004)
Ear Damage - cm
12
Dual mode
Biotechnology
of action 8
enhances 4
IRM and 0
durability 2 gen YGCB Herculex I YGCB NonBt
Increased YGCB Non-Bt
Herculex® I
2 gen YGCB
insect
control
spectrum 2 gen YGCB
Non-Bt YGCB
Global Fall armyworm, Puerto Rico, April 04
expansion
YGCB=YieldGard® Corn Borer
Herculex® is a registered trademark of Dow AgroSciences LLC
Discovery Phase 1 Phase 3 Phase 4
Phase 2 Launch
Proof of Concept Adv. Development Pre-Launch
Pre-
Early Development
4

5. Farmer Benefit: Second Generation YieldGard®
Corn Borer Offers Broader Insect Control
Second Generation YieldGard® Corn Borer
Excellent control of
Genomics targeted pests
Outstanding yields,
Biotechnology
including stacks for Aflatoxin reduction due to reduced ear damage
rootworm control
FALL ARMYWORM
Reduced aflatoxin
concentrations over
conventional
Lead event selected
for regulatory
submissions
CONTROL 2ND GEN YGCB
Broader spectrum – Armyworms and Earworm
Discovery Phase 1 Phase 3 Phase 4
Phase 2 Launch
Proof of Concept Adv. Development Pre-Launch
Pre-
Early Development
5