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EXHIBIT 99.1
MONSANTO [MONSANTO LOGO]
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INVESTMENT HIGHLIGHTS
Monsanto is transforming agriculture
o Strong and growing Roundup business
o Growing biotechnology business with great upside
o Acceptance of biotechnology improving globally
o Broadest and deepest pipeline in industry
Steady profit growth through
innovation and margin expansion
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MULTIPLE MARGIN OPPORTUNITIES EXIST
IN TODAY'S AG ECONOMY
Global Acres by Crop
In Millions
[GRAPH]
Wheat Corn Soy Cotton
----- ---- --- ------
1994 530 335 154 80
1999 536 345 177 80
2004 548 353 189 86
Source: Sparks Companies
Industry Sales by Product Type
$ in Billions
[GRAPH]
1994 1999 2004
---- ---- ----
Herbicides 13 14 14
Insecticides 7 7 7
Fungicides 5 6 6
Seeds & Traits 11 12 15
Source: Phillips McDougall, Monsanto estimates
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MONSANTO IS UNIQUE
[CHART]
INNOVATION IN:
Technology
Production
Marketing
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ROUNDUP BRAND IS LEADING GLOBAL HERBICIDE
2000 Glyphosate Revenues
$ in Billions
[GRAPH]
Monsanto Syngenta DOW Chinese and
(Roundup) (Touchdown) (Glyphomax) Other Generics
--------- ----------- ----------- --------------
2.6 0.2 0.1 0.15
Sources of value and differentiation
o Brand equity
o Formulation innovation
o Service
o Integrated solutions
Source: Phillips McDougall
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ROUNDUP HISTORICAL TRENDS
Indexed (1994 = 100)
[CHART]
'94 '95 '96 '97 '98 '99 '00
Volume 100 133 160 202 258 314 372
[CHART]
'94 '95 '96 '97 '98 '99 '00
Cost 100 96 89 79 76 70 68
[CHART]
'94 '95 '96 '97 '98 '99 '00
Price 100 92 89 80 72 64 58
[CHART]
'94 '95 '96 '97 '98 '99 '00
GP 100 117 142 162 173 186 192
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SUBSTANTIAL GROWTH REMAINS FOR ROUNDUP
BRAND IN TWO KEY SEGMENTS
Con-Till Opportunity
Acres in Millions
[CHART]
Roundup on 70%
of Con-Till Acres
1996 2000 Market Potential
113 245 750
Roundup Ready Potential
Acres in Millions
[CHART]
Corn Soybeans Canola Cotton
---- -------- ------ ------
Remaining Potential 3 68 5 8.5
Acres in 2000 210 63 64 25.5
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CAPABILITIES IN PLACE TO SUSTAIN VALUE
Capabilities
o Manufacturing capacity in place to meet demand growth
o Distribution and logistics capabilities demonstrated
o Marketing and sales resources integrated
Competencies
o Manufacturing scale and cost
o Logistics support
o Distributor/retailer relationships
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BIOTECH IS TRANSFORMING AGRICULTURE
[CHART]
INNOVATION IN:
Technology
Production
Marketing
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FIRST MOVER ADVANTAGE IN BIOTECH
[GRAPH]
Patents filed Field tests USDA product approvals Trait acreage
------------- ----------- ---------------------- -------------
By percent 28 50 53 94
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BIOTECH PLATFORM UNMATCHED
o Significant R&D investment
o Broad patent estate
o Deep market penetration
o Seed position as delivery vehicle for technology
o Power of integrated solutions
[GRAPH]
MONTANTO TRAIT ACREAGE GROWTH
ACRES IN MILLIONS
1996 1997 1998 1999 2000
---- ---- ---- ---- ----
Trait Acreage 4 18 63 89.6 103.1
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GLOBAL GROWTH POTENTIAL FOR BIOTECH TRAITS
[CHART]
$ Sales in Millions
Corn Soybeans Cereals Cotton
---- -------- ------- ------
1999 879 987 0 391
2004 1690 1218 50 887
2009 2090 1760 913 1683
Source: Phillips McDougall
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BIOTECH ACCEPTANCE STRATEGY AND PROGRESS
o Secure markets for customers' products
o Continue to build consumer support
o Expand regulatory approvals
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BRAZILIAN ROUNDUP READY SOYBEAN STATUS
o Regulatory Steps Remaining Before Commercialization:
- Gain approval for environmental assessment
- Obtain state permits; meet labeling rules and other
regulations for commercial planting
o Successful launch of Roundup Ready soybeans paves way for additional
biotech product launches
[GRAPH]
Soybeans (2000 Acres in Millions)
U.S. Brazil Argentina
Biotech 44.9 0.0 22.7
Conventional 29.6 33.3 1.6
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ROUNDUP READY CORN EC STATUS
Member State Actions European Commission Actions
(completed) (pending)
Rapporteur countries (Spain, Formal vote on revisions to
UK) recommend Roundup ==== biotech rules (90/220), including
Ready corn for approval || labeling and traceability
/\ || ||
|| || ||
|| || \/
Spanish approval for || Draft approval decision on
EU production (May 1999) ===> Roundup Ready corn
completed by Commission
/\ ||
|| ||
|| \/
UK approval for 15 member states vote on
import (November 1999) final approval for Roundup
Ready corn
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SEEDS AND GENOMICS ARE FOUNDATION FOR FUTURE
[CHART]
INNOVATION IN:
Technology
Production
Marketing
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COMPREHENSIVE PLANT GENETICS CAPABILITIES
FROM GENOMICS TO SEED TO PLANT PRODUCTS
o Leading industry investment in technology platforms
- Plant genomics capabilities rival Millennium and Celera human
genomics
o Leading global seed infrastructure
o Product pipeline focused in five areas
- Near-term: 5 products
- Medium-term: 10 products
- Long-term: 13 products
- Continuous improvements to hybrids/varieties
o Currently only input traits commercialized; substantial potential in
food, feed and quality traits
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GROWTH DRIVERS
LONG TERM
MEDIUM TERM 2006 and beyond
SHORT TERM 2003 - 2005 Plus...
2001 - 2002 Plus... o Pipeline growth
o Grow Roundup, seeds, o Accelerating biotech - Yield traits
existing traits growth
o Downstream businesses
o Increase margins o Accelerating seed business
growth
o Win biotech acceptance
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FINANCIAL INFORMATION
[CHART]
2000 Results
(excluding special items)
Ag Productivity Seeds & Genomics Total Monsanto
Sales 3,885 1,608 5,493
EBITDA 1,330 (5) 1,325
Q1 2001 Results
(excluding special items)
[CHART]
Ag Productivity Seeds & Genomics Total Monsanto
Sales 833 488 1,321
EBITDA 250 20 270
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SG&A AND R&D TRENDS
Percent of sales
[CHART]
1997 1998 1999 2000
SG&A 24 26 24 23
R&D 11 12 13 11
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FREE CASH FLOW
[CHART]
1996 1997 1998 1999 2000
Dollars in millions (741) (1,630) (5,072) (295) (264)
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PRODUCT PIPELINE
PLATFORM/ SHORT-TERM MEDIUM-TERM LONG-TERM
LAUNCH* (2001-2002) (2003-2005) (2006 and beyond)
CROP YIELD Refresh Current Seed o Higher-Yielding Soybeans o Higher-Yielding Corn
AND Portfolio with: o Higher-Yielding Canola o Higher-Yielding Cotton
PRODUCTIVITY o 130 New Corn Hybrids o Additional New Hybrids and o Specialized Seed Corn
o 150 New Soybean Varieties Varieties in Key Crops o Drought-Tolerant Corn
o 20 New Other Oilseed o Cold-Tolerant Corn
Varieties o Additional New Hybrids and
o 20 New Wheat Varieties Varieties in Key Crops
INSECT AND o MaxGard Insect-Protected o Roundup Ready and Insect- o Enhanced Bollgard Cotton
DISEASE Corn Protected Soybeans
MANAGEMENT o Second-Generation Bollgard o Second-Generation
Cotton YieldGard Corn
o Latitude Fungicide o Extended Control Seed
Treatment
WEED o Roundup Ready Corn o Roundup Ready Wheat o Enhanced Roundup Ready
MANAGEMENT o Roundup Ready Sugar Beets o Roundup Ready Rice Cotton
o Roundup Ready Alfalfa
FEED AND FOOD o Improved-Energy Corn o Corn Enhanced with
o Corn Enhanced with Essential Amino Acids
Essential Amino Acids o Improved-Protein Soybeans
o High-Oil Canola
o High-Oil Soybeans
o Improved-Oil Soybeans
o Zero-Saturate Soybeans
*Subject to technological success and regulatory approval