CF Industries (NYSE: CF), one of the world’s largest producers of nitrogen fertilizer, is working with CHS Inc., the nation’s leading agribusiness cooperative, to accelerate quantifiable and certifiable agriculture and food system greenhouse gas (GHG) emission reductions through the production and distribution of low-carbon nitrogen fertilizer. This initiative was developed as part of the U.S.-UAE’s Agriculture Innovation Mission for Climate (AIM for Climate) program that seeks to catalyze global innovation in climate-smart agriculture.

The manufacture of fertilizers, which are essential to crop yields, is a significant contributor to the lifecycle GHG footprint of global food production. For example, one study⁽¹⁾ estimated that nitrogen fertilizer manufacturing accounts for about 30% of the lifecycle GHG emissions associated with the production of a loaf of bread.

To address the GHG footprint of food production, both companies will leverage CF Industries’ investments to produce ammonia, which is the building block of nitrogen-based fertilizer products, with lower Scope 1 carbon dioxide (CO₂) emissions. They will also leverage CHS’ extensive distribution network to place low- and zero-carbon fertilizers with growers. The companies expect to work together to promote the use of low-GHG nitrogen fertilizer to help farmers and crop end users, such as consumer product goods companies and ethanol producers, reduce the overall carbon footprint of agriculture.

“Decarbonized fertilizer is the future of how we sustainably supply and produce the goods that humanity needs,” said Bert Frost, senior vice president, sales, supply chain and market development, CF Industries. “The advantage of using decarbonized fertilizer is that we can measure the reduction in greenhouse gas emissions associated with its production and transfer that attribute to the farmer who can then provide crops to their customers that have a quantifiably lower GHG footprint. This will enable us to develop a certifiable decarbonized agricultural value chain.”

“We recognize the importance of helping growers optimize resources as they produce food the world needs,” said Brian Schouvieller, senior vice president commercial trade and risk management at CHS. “Nitrogen fertilizer is critical to plant growth; zero or low-carbon fertilizer can be an important tool as we pursue solutions that help growers simultaneously achieve their crop production and sustainability goals.”

Since 2020, CF Industries has advanced industry-leading projects to decarbonize its ammonia production network and position the Company to supply a substantial volume of clean ammonia within the next few years. This includes leveraging carbon capture and sequestration (CCS) technologies at its Donaldsonville Complex where CF Industries is constructing a CO2 dehydration and compression facility to enable the capture and permanent sequestration of up to 2 million tons of CO2 per year, which is expected to begin in 2025. Additionally, CF Industries is constructing North America’s first commercial scale green ammonia capacity at its Donaldsonville Complex, enabling up to 20,000 tons of green ammonia production beginning in 2024.

About CF Industries Holdings, Inc.

At CF Industries, our mission is to provide clean energy to feed and fuel the world sustainably. With our employees focused on safe and reliable operations, environmental stewardship, and disciplined capital and corporate management, we are on a path to decarbonize our ammonia production network – the world’s largest – to enable green and blue hydrogen and nitrogen products for energy, fertilizer, emissions abatement and other industrial activities. Our manufacturing complexes in the United States, Canada, and the United Kingdom, an unparalleled storage, transportation and distribution network in North America, and logistics capabilities enabling a global reach underpin our strategy to leverage our unique capabilities to accelerate the world’s transition to clean energy. CF Industries routinely posts investor announcements and additional information on the Company’s website at www.cfindustries.com and encourages those interested in the Company to check there frequently.

About CHS Inc.

CHS Inc. (www.chsinc.com) creates connections to empower agriculture. As a leading global agribusiness and the largest farmer-owned cooperative in the United States, CHS serves customers in 65 countries and employs nearly 10,000 people worldwide. We provide critical crop inputs, market access and risk management services that help farmers feed the world. Our diversified agronomy, grains, foods and energy businesses recorded revenues of $47.8 billion in fiscal year 2022. We advance sustainability through our commitment to being stewards of the environment, building economic viability and strengthening community and employee well-being.

Cautionary Statement: All statements in this communication by CF Industries, other than those relating to historical facts, are forward-looking statements. Forward-looking statements can generally be identified by their use of terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “will” or “would” and similar terms and phrases, including references to assumptions. Forward-looking statements are not guarantees of future performance and are subject to a number of assumptions, risks and uncertainties, many of which are beyond the company’s control, which could cause actual results to differ materially from such statements. These statements may include, but are not limited to, statements about strategic plans and management’s expectations with respect to the production of low-carbon nitrogen fertilizer, greenhouse gas reduction targets, projected capital expenditures, statements about future financial and operating results, and other items described in this communication.

More detailed information about factors that may affect CF Industries’ performance and could cause actual results to differ materially from those in any forward-looking statements may be found in the company’s filings with the Securities and Exchange Commission, including the company’s most recent annual and quarterly reports on Form 10-K and Form 10-Q, which are available in the Investor Relations section of the company’s web site. It is not possible to predict or identify all risks and uncertainties that might affect the accuracy of forward-looking statements and, consequently, the descriptions of such risks and uncertainties should not be considered exhaustive. There is no guarantee that any of the events, plans or goals anticipated by these forward-looking statements will occur, and if any of the events do occur, there is no guarantee what effect they will have on the company’s respective business, results of operations, cash flows, financial condition and future prospects. Forward-looking statements are given only as of the date of this communication and CF Industries disclaims any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

This document and other CHS Inc. publicly available documents contain, and CHS officers and representatives may from time to time make, "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on CHS current beliefs, expectations and assumptions regarding the future of its businesses, financial condition and results of operations, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of CHS control. CHS actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not place undue reliance on any of these forward-looking statements. Important factors that could cause CHS actual results and financial condition to differ materially from those indicated in the forward-looking statements are discussed or identified in CHS filings made with the U.S. Securities and Exchange Commission, including in the "Risk Factors" discussion in Item 1A of CHS Annual Report on Form 10-K for the fiscal year ended August 31, 2022, and in item 1A of CHS Quarterly Report on Form 10-Q for the fiscal quarter ended February 28, 2023. These factors may include: changes in commodity prices; the impact of government policies, mandates, regulations and trade agreements; global and regional political, economic, legal and other risks of doing business globally; the ongoing war between Russia and Ukraine; the impact of inflation; the impact of epidemics, pandemics, outbreaks of disease and other adverse public health developments, including COVID-19; the impact of market acceptance of alternatives to refined petroleum products; consolidation among our suppliers and customers; nonperformance by contractual counterparties; changes in federal income tax laws or our tax status; the impact of compliance or noncompliance with applicable laws and regulations; the impact of any governmental investigations; the impact of environmental liabilities and litigation; actual or perceived quality, safety or health risks associated with our products; the impact of seasonality; the effectiveness of our risk management strategies; business interruptions, casualty losses and supply chain issues; the impact of workforce factors; our funding needs and financing sources; financial institutions’ and other capital sources’ policies concerning energy-related businesses; uncertainty regarding the transition away from LIBOR and the replacement of LIBOR with an alternative reference rate; technological improvements that decrease the demand for our agronomy and energy products; our ability to complete, integrate and benefit from acquisitions, strategic alliances, joint ventures, divestitures and other nonordinary course-of-business events; security breaches or other disruptions to our information technology systems or assets; the impact of our environmental, social and governance practices, including failures or delays in achieving our strategies or expectations related to climate change or other environmental matters; the impairment of long-lived assets; the impact of bank failures; and other factors affecting our businesses generally. Any forward-looking statements made by CHS in this document are based only on information currently available to CHS and speak only as of the date on which the statement is made. CHS undertakes no obligation to update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise except as required by applicable law.

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