8-K - CF - Equibles

UNITED STATESSECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of TheSecurities Exchange Act of 1934

Date of Report (Date of earliest event

reported): October 29, 2020

CF Industries Holdings, Inc.

(Exact name of registrant as specified in its charter)

Delaware	001-32597	20-2697511
(State<br>or other jurisdiction<br><br> of incorporation)	(Commission<br> File Number)	(IRS<br>Employer <br><br>Identification No.)
4 Parkway North, Suite 400<br>Deerfield, Illinois	60015
---	---
	(Zip<br> Code)
(Address<br> of principal <br><br> executive offices)

Registrant’s telephone number, including area code

(847) 405-2400

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading symbol(s)	Name of each exchange on which registered
common stock, par value $0.01 per share	CF	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 7.01.	Regulation FD Disclosure.

On October 29, 2020, CF Industries Holdings, Inc. (the “Company”) issued a press release and posted an investor presentation to its website announcing its commitment to a clean energy economy, including significant steps the Company is taking to support a global hydrogen and clean fuel economy through the production of green and low-carbon ammonia. The announcement also includes enhancements to the Company’s environmental, social and governance (“ESG”) initiatives, including the adoption of comprehensive ESG goals covering critical environmental, societal, and workforce initiatives, and the establishment of a new Environmental Sustainability and Community Committee of its Board of Directors to oversee all aspects of the progress toward net-zero carbon emissions and the Company’s active involvement in the communities in which it operates. A copy of the press release and investor presentation are attached hereto as Exhibit 99.1 and Exhibit 99.2, respectively.

The information set forth herein, including the exhibit attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in any such filing.

Item 9.01.	Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.	Description of Exhibit
99.1	CF Industries Holdings, Inc. Press Release dated October 29, 2020
99.2	Presentation of CF Industries Holdings, Inc. dated October 29, 2020
104	Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: October 29, 2020	CF INDUSTRIES HOLDINGS, INC.
	By:	/s/ Christopher D. Bohn
	Name:	Christopher D. Bohn
	Title:	Senior Vice President and Chief Financial Officer

Exhibit 99.1

4 Parkway North, Suite 400

Deerfield, IL 60015

www.cfindustries.com

For additional information:

Media	Investors
Chris Close	Martin Jarosick
Director, Corporate Communications	Vice President, Investor Relations
847-405-2542 – cclose@cfindustries.com	847-405-2045 – mjarosick@cfindustries.com

CFIndustries Announces Commitment to Clean Energy Economy

Low-carbonammonia key enabler for clean hydrogen energy

World’slargest producer of ammonia decarbonizing global production base

Boardapproves green ammonia project at Donaldsonville Nitrogen Complex

ComprehensiveESG goals including net-zero carbon emissions by 2050

Briefingcall outlining clean energy commitment today at 4:00 pm Eastern

DEERFIELD, Ill. – Oct. 29, 2020 – CF Industries Holdings, Inc. (NYSE: CF), a leading global manufacturer of hydrogen and nitrogen products, today announced significant steps to support a global hydrogen and clean fuel economy, which is expected to grow significantly over the next decade, through the production of green and low-carbon ammonia.

Highlights:

•	Board-authorized green ammonia project<br> to be built at the Donaldsonville Nitrogen Complex
•	Carbon dioxide (CO2) sequestration<br> and other carbon abatement projects to enable low-carbon ammonia production in development
•	Announces comprehensive ESG goals,<br> covering critical environmental, societal, and workforce imperatives, including a dramatic reduction in carbon emissions across<br> its global network
•	25% reduction in CO2e emissions<br> intensity by 2030 and net-zero carbon emissions by 2050
•	Executive compensation tied directly<br> to ESG goals
•	Briefing call to outline clean energy<br> commitment at 4:00 pm Eastern today, Thursday, Oct. 29, 2020

“The world needs clean energy and hydrogen is a key to meeting this need. Low-carbon ammonia is the critical enabler for storage and transport of hydrogen and thus has a major role to play,” said Tony Will, president and chief executive officer, CF Industries Holdings, Inc. “Today’s commitment to decarbonize the world’s largest ammonia production network positions CF Industries at the forefront of clean hydrogen supply. Due to our unparalleled manufacturing and distribution network, our competitive advantage in producing low-carbon ammonia at scale is measured in terms of years and billions of dollars.”

Significant Long-term Global Growth

Green hydrogen and ammonia are expected to be critical contributors to the world achieving net-zero carbon emissions by 2050. Industry experts project hydrogen will meet approximately 20% of the world’s energy need by 2050, up from less than 1% today. Ammonia, which is composed of three-parts hydrogen and one-part nitrogen, is a highly efficient transport and storage mechanism for hydrogen as well as a fuel in its own right.

As the world’s largest ammonia producer, CF Industries’ current asset base and technical expertise are well-situated to meet the anticipated demand for hydrogen and ammonia from green and low-carbon sources. The company’s approach will focus on green ammonia production, which refers to ammonia produced through a carbon-free process, and low-carbon ammonia, which relates to ammonia produced by conventional processes but with CO2 removed through carbon capture and sequestration (CCS) and other certified carbon abatement projects.

“Our existing scale and commitment to produce green and low-carbon ammonia establishes CF Industries as the clear leader in providing clean fuels for a sustainable world, while also providing a growth platform to drive long-term shareholder value,” added Will.

Initial Investments in a Clean Energy Future

CF Industries’ Board of Directors approved an initial green ammonia project at the company’s flagship Donaldsonville Nitrogen Complex to produce approximately 20,000 tons per year of green ammonia. The company will install a state-of-the-art electrolysis system at Donaldsonville to generate carbon-free hydrogen from water that will then be supplied to an existing plant to produce green ammonia. The cost of the initial project is expected to fit within the company’s annual capital expenditure budget, which has ranged from $400-$450 million per year.

Additionally, the company is developing CCS and other carbon abatement projects across its production facilities. The implementation of these projects will enable CF to produce low-carbon ammonia. The company estimates that over time it could produce approximately 3.5 million tons of low-carbon ammonia per year, which represents about one-third of its annual ammonia production capacity, without affecting its current product mix.

In order to execute these initiatives, CF is collaborating with leading technology companies, and has signed Memorandums of Understanding with ThyssenKrupp and Haldor Topsoe. The Company is also in discussions with global utilities and maritime transportation providers that have announced their intention to use low-carbon ammonia directly as a fuel.

New Committee of the Board

The CF Board of Directors has established a new committee, the Environmental Sustainability and Community Committee, to oversee all aspects of the progress toward net-zero carbon emissions and the company’s active involvement in the communities in which it operates.

To learn more about CF Industries’ commitment to a clean energy future, visit www.cfindustries.com.

Conference Call

CF Industries Holdings, Inc. is posting a presentation to the investor portion of the company’s website at www.cfindustries.com and will be hosting a conference call at 4:00 pm Eastern on Thursday, Oct. 29, 2020, to provide an overview of the company’s commitment to clean energy and answer analysts’ questions.

Investors can access the call by dialing 866-748-8653 or 678-825-8234. The passcode is 9281559. The conference call also will be available live on the company’s website at www.cfindustries.com. Participants also may pre-register for the webcast on the company’s website. Please log-in or dial-in at least 10 minutes before the start time to ensure a connection. A replay of the call will be available for seven days by calling 855-859-2056 and citing code 9281559.

About CF Industries Holdings, Inc.

CF Industries is a leading global manufacturer of hydrogen and nitrogen products for clean energy, emissions abatement, fertilizer, and other industrial applications. We operate manufacturing complexes in the United States, Canada, and the United Kingdom, which are among the most cost-advantaged, efficient, and flexible in the world and an unparalleled storage, transportation and distribution network in North America. Our 3,000 employees focus on safe and reliable operations, environmental stewardship and disciplined capital and corporate management, driving our strategy to leverage and sustainably grow the world’s most advantaged hydrogen and nitrogen platform to serve customers, creating long-term shareholder value. 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.

Safe Harbor Statement

All statements in this communication, other than those relating to historical facts, are forward-looking statements, including, but not limited to, statements as to strategic plans and management’s expectations with respect to the production of green and low-carbon ammonia, the development of carbon capture and sequestration projects, the transition to and growth of a hydrogen economy, greenhouse gas reduction targets, projected capital expenditures, and other items described in this communication. 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 our control, which could cause actual results to differ materially from such statements. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to, the failure of cost competitive global renewable energy capacity to increase significantly; realization of technological improvements required to increase the efficiency and lower the costs of production of green and low-carbon ammonia; development and growth of end market demand and applications for low-carbon hydrogen and ammonia; government regulation, incentives, and initiatives; cost overruns; performance of third parties; permitting matters; and other unforeseen difficulties. Important factors that could cause actual results more generally to differ materially from our expectations are discussed in our filings with the Securities and Exchange Commission, including our most recent annual and quarterly reports on Form 10-K and Form 10-Q, which are available in the Investor Relations section of the CF Industries web site.

It is not possible to predict or identify all risks and uncertainties that might affect the accuracy of our forward-looking statements and, consequently, our 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 our 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 the company 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.

Exhibit 99.2

1 CF Commitment to Clean Energy Economy Clean Fuels for a Sustainable World October 29, 2020 NYSE: CF

2 Safe harbor s tatement All statements in this communication, other than those relating to historical facts, are forward - looking statements, including, but not limited to, statements as to strategic plans and management’s expectations with respect to the production of green and low - carbon ammonia, t he development of carbon capture and sequestration projects, the transition to and growth of a hydrogen economy, greenhouse gas reduction ta rge ts, projected capital expenditures, and other items described in this communication. 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 “wou ld” and similar terms and phrases, including references to assumptions. Forward - looking statements are not guarantees of future performance and are subjec t to a number of assumptions, risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materi all y from such statements. Important factors that could cause actual results to differ materially from our expectations include, but are not li mited to, the failure of cost competitive global renewable energy capacity to increase significantly; realization of technological improvements requir ed to increase the efficiency and lower the costs of production of green and low - carbon ammonia; development and growth of end market demand and ap plications for low - carbon hydrogen and ammonia; government regulation, incentives, and initiatives; cost overruns; performance of third parties ; permitting matters; and other unforeseen difficulties. Important factors that could cause actual results more generally to differ mater ial ly from our expectations are discussed in our filings with the Securities and Exchange Commission, including our most recent annual and quarterly repo rts on Form 10 - K and Form 10 - Q, which are available in the Investor Relations section of the CF Industries web site. It is not possible to predict or identify all risks and uncertainties that might affect the accuracy of our forward - looking stat ements and, consequently, our descriptions of such risks and uncertainties should not be considered exhaustive. There is no guarantee that any of the e ven ts, 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 our business, results of operations, cash flows, financial condition and future prospects. Forward - looking statements are given onl y as of the date of this communication and the company disclaims any obligation to update or revise the forward - looking statements, whether as a res ult of new information, future events or otherwise, except as required by law.

3 Executive summary : c ommitment to clean energy economy • Hydrogen has emerged as a leading clean energy source to help the world achieve net - zero carbon emissions by 2050 • Ammonia is one of the most efficient ways to transport and store hydrogen and is also a fuel in its own right • CF is the world’s largest producer of ammonia and is uniquely positioned, with an unparalleled asset base and technical knowledge, to serve this anticipated demand • Company is announcing commitment to decarbonize the world’s largest ammonia production network, positioning CF at forefront of clean hydrogen supply • New green ammonia project announced at Donaldsonville Nitrogen Complex today expected to fit within normal $400 - 450 million annual capex budget • Establishing carbon emissions reduction targets of: • 25 % reduction by 2030 • net - zero carbon emissions by 2050 • Clear pathways to growth in clean energy: • Green ammonia production - ammonia produced through a carbon - free electrolysis process using renewable electricity • Renewable electricity accounts for approximately 25% of CF’s total system consumption • Low - carbon ammonia - ammonia produced by conventional processes but with CO 2 removed through carbon capture and sequestration (CCS) and other certified carbon abatement projects • Board has established a new Environmental Sustainability and Community Committee and is aligning executive compensation directly to ESG objectives

4 Investment thesis: l ow - carbon ammonia • The global focus on climate change and GHG emissions has created a push to decarbonize economies. To accomplish this, the world needs a clean energy/fuel source • Renewable energy (solar and wind) are growing rapidly, supported by governmental incentives • However , renewable energy is not consistently available and somewhat unpredictable creating the need to have a clean energy source that can be stored and transported • Hydrogen has emerged as a clean energy source • Hydrogen can be produced with zero carbon emissions through the electrolysis of water, using renewable energy • However , hydrogen is difficult to store and transport given its combustible nature and extremely low boiling point temperature ( - 423 F) • Ammonia (NH3 ) has a much higher boiling point ( - 28 F ), is an efficient storage and transport medium for hydrogen • Significantly higher energy density than hydrogen and considerably more efficient than lithium ion batteries • Infrastructure to store and transport ammonia already exists with a presence in 120 seaports globally and seaborne trade of ~20 million tons annually • Ammonia can be used directly as a fuel, in addition to serving as a storage and transport medium for hydrogen • The solution: produce low - carbon ammonia for use as a fuel and a hydrogen storage and transportation medium to assist decarbonizing economies • Green ammonia is produced through electrolysis of water to produce carbon free hydrogen and synthesis to ammonia • L ow - carbon ammonia can be produced by either carbon c apture and sequestration where process - gas CO2 is removed and injected into geological storage , or through utilizing certified carbon abatement credits to offset produced CO2 The result: exponential growth in low - carbon ammonia

5 Source: IEA, Wood Mackenzie, Bernstein: Hydrogen Highway 2020: Ready for Prime Time Deloitte: Australian and Global Hydrogen Demand Growth Scenario Analysis, prepared for COAG Energy Council – National Hydrogen Strategy Ta skforce, November 2019 (1) Deloitte (DT) Scenarios: Energy of the Future – Hydrogen demand where all aspects of industry development are favorable for Hydro gen; Targeted Deployment – Countries adopt a targeted approach which aims to maximize economic value in the development of Hydrogen; (2) IRENA is the International Renewable Energy Agency; (3) Each st of ammonia contains 17.65% hydrogen by mass. 5.67 st of ammonia are required for each st of hydrogen 0 500 1,000 1,500 2,000 2,500 3,000 3,500 0 100 200 300 400 500 600 700 Million ST Hydrogen Potential long - term demand for hydrogen Million ST NH3 Equivalent (3) 2018 Demand 2050 Demand Estimates 85% 230% 345% 150% 660% % Growth from 2018 4 45% Avg. 335M st Hydrogen – 360% growth over 2018 310% 19.4x 16.7x 13.9x 11.1x 8.3x 5.6x 2.8x Potential NH3 Demand Growth Today’s global ammonia consumption of ~180M ST, CF Industries supplies ~6% 4 70% Hydrogen demand projected to grown exponentially • Hydrogen has emerged as a leading clean energy source to achieve global GHG emission reductions and energy stability • Development of the clean energy economy is expected to receive significant levels of investment by governments, global organizations, and private industry • Global ammonia demand will increase substantially over the current annual demand of ~180M ST if only a portion of the growth in hydrogen demand is supported by low - carbon ammonia

6 Low - carbon ammonia : the key e nabler f or c lean h ydrogen e nergy • 180 million tons of ammonia safely produced, stored, transported and consumed globally • Ammonia’s energy density is ~1.5x that of liquid hydrogen, ~3.0x that of gaseous hydrogen, and ~14.0x that of lithium ion batteries, allowing for more economic transport and storage of energy • Global ammonia transportation and storage infrastructure already exists with a presence in 120 seaports globally • Ammonia disassociation to create pure hydrogen is a mature technology • Ammonia can be used directly as a fuel in addition to a storage and transport medium for hydrogen • Used directly for power generation in ammonia - fired turbines, engines, marine vessels and mixed with coal in power plants Ammonia is the solution for storage & transportation Source: The Royal Society

7 CF has the leading asset base Ideally positioned to lead h ydrogen economy by leveraging existing network • 10 million tons produced annually • 9 manufacturing complexes • 23 distribution facilities • 1.5 million tons of storage • 5 deep water docks able to load ocean - going vessels • Additional shipping capacity via pipeline, barge, rail, truck CF has the world’s largest and most integrated ammonia production and distribution network CF nitrogen complex CF owned distribution facility NuStar Pipeline Ammonia Export Capability UK

8 Ammonia as a fuel CF has numerous initiatives underway in support of clean energy Developing numerous carbon capture and sequestration (CCS) projects near CF production facilities In discussions for supplying ammonia as marine fuel and for global power generation Evaluating certified CO 2 abatement projects within the existing network Partnering with companies developing low - carbon end - market applications/demand L ow - carbon Ammonia Green Ammonia Initial investment in green ammonia electrolysis project at Donaldsonville Nitrogen Complex CO 2 s equestration Green ammonia manufacturing CO 2 a batement Ammonia for Hydrogen storage & transport

9 Market value of hydrogen in low - carbon ammonia (1) Estimate provided by S&P Global Platts , retail price of hydrogen in California Value of hydrogen (1) Hydrogen content in ammonia Market v alue of hydrogen in low - carbon ammonia ~$12 kg 160 kg/ st ~$2,000 per ton

10 C F $/st 0 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000 • Production of blue ammonia achieved through carbon capture and sequestration or certified carbon abatement projects expected to have similar production costs as conventional ammonia • U.S . tax credits expected to offset CF’s incremental costs • Green ammonia project is based on water electrolysis system capable of producing ~20K tons per year • CF expects the initial green ammonia project at Donaldsonville to require capex of ~$100 million and be NPV positive (1) Average US Gulf production costs @ $3.00 mmbtu natural gas (2) Electricity cost of $40/MW assumed (3) Estimate provided S&P Global Platts , retail price of hydrogen in California, multiplied by 160 kg/ton ammonia Conventional (1) Blue (1) Green (2) Market value of hydrogen in low - carbon ammonia (3) CF’s long - term growth trajectory dramatically enhanced with c lean energy CF focused on the hydrogen clean f uel value of a mmonia rather than its nutrient value Ammonia cash costs ~$2,000 $465 $140 $140

11 Clean Fuel: The growth platform for long - term s hareholder v alue • Clean energy production significantly enhances CF’s long - term growth trajectory • Ability to achieve higher margins over time by capturing clean energy value of ammonia rather than the nutrient value of ammonia • Projected demand for low - carbon ammonia will significantly exceed current global ammonia capacity • To meet anticipated demand, the value for green ammonia must satisfy cost of capital hurdles to incentivize the construction of new greenfield production facilities • CF’s existing asset base provides brownfield expansion opportunities, placing CF years and billions of dollars of investment ahead of greenfield projects • CF green ammonia production advantages: • Hydrogen from electrolysis can be fed into existing ammonia synthesis unit, displacing hydrogen from steam methane reformer • Existing logistics infrastructure available to store and deliver green ammonia efficiently • Unparalleled technical expertise exists within CF network • ~25% of total system electricity usage already from renewable resources • CF blue ammonia production advantages: • Existing CO 2 header and collection systems • Several production sites near CO 2 pipelines • Numerous CO 2 sequestration projects under development near our sites • Government incentives in place with 45Q credits ($31/ton, increasing to $45/ton by 2026)

12 ESG priorities and goals

13 Clean e nergy enhances c omprehensive ESG p riorities • We have identified 16 ESG issues that are material to our business based on potential for material financial or reputational impact, alignment with our mission, values and strategy, relevance across our industry, importance to internal and external stakeholders, and our ability to control or influence the topic. • Our commitment to a clean energy economy reflects the integration of ESG considerations into our strategy for long - term value creation Committed to decarbonizing the world’s l argest a mmonia p roduction n etwork

14 Dimension Material Issue Goal UN Sustainable Development Goals GHG EMISSIONS; ENERGY MANAGEMENT; CLIMATE CHANGE Reduce carbon emissions • During 2021, develop and prioritize a list of viable GHG reduction capital projects • Reduce total CO 2 equivalent emissions by 25% per ton of product by 2030 (2015 baseline year) • Achieve net - zero carbon emissions by 2050 CLIMATE CHANGE Begin to report and disclose Company data in accordance with the Task Force on Climate - related Financial Disclosures (TCFD) framework for climate - related risks and opportunities, in addition to the Global Reporting Initiative (GRI) and Sustainability Accounting Standards Board (SASB) WATER MANAGEMENT Ensure sustainable management of water (availability, use, and discharge) for all manufacturing operations: • During 2021, identify and evaluate a list of viable water reuse/reduction projects • Develop integrated water resource management plans to ensure sustainable withdrawals and discharges Energy, Emissions and Climate Change Goals aligned with material ESG issues

15 Dimension Material Issue Goal UN Sustainable Development Goals WORKFORCE HEALTH & SAFETY Strengthen and improve behavioral safety practices that support the commitment to safety excellence • At least 95% of the aggregated safety grades of all employees at manufacturing and distribution sites must be a "B" or better for the year • Safety critical equipment inspections completed per schedule • Management of changes in current year closed within 90 days of pre - startup review DIVERSITY & INCLUSION Continue to improve the inclusiveness and diversity of the Company and the Culture • Increase representation of females and people of color in senior leadership roles (director level and above) to at least 30% by end of 2025 • Implement a program to create additional pathways to long - term professional growth for traditionally underrepresented employee groups by end of 2021 with the ultimate goal of increasing the hiring and promotion of minority and female candidates COMMUNITY RELATIONS Increase engagement and support with our local communities and expand the corporate giving philosophy to include environmental sustainability, food access and security, STEM education and first responders within our local communities Implement a Volunteer Time Off (“VTO”) program by the end of 2021 which provides paid time off for employees to volunteer in their communities with organizations that are part of the Company ’s giving campaign. Achieve 25% employee participation in VTO program by the end of 2025 Our Workplaces and Communities Goals aligned with material ESG issues (cont’d)

16 Dimension Material Issue Goal UN Sustainable Development Goals FOOD SECURITY; ENVIRONMENTAL COMPLIANCE Be a driving force to increase adoption of enhanced conservation practices and nutrient management practices that promote sustainable agriculture • Reach 90,000 farmers with 4R Plus program by 2023 • Expand partnerships to achieve 60 million acres of farmland using sustainable practices by 2030 SAFETY & ENVIRONMENTAL STEWARDSHIP OF CHEMICALS Receive the “Protect & Sustain” certification (or equivalent environmental/product stewardship certification) for 100% of manufacturing sites by 2030 MANAGEMENT OF LEGAL & REGULATORY ENVIRONMENT Engage suppliers and service providers annually representing 50% of the Company ’s total procurement and supply chain expenditures and assess their commitment to and performance in key ESG areas ETHICS • Annually require 100% of employees to be trained on and certify compliance with the Code of Corporate Conduct • Annually require 100% of employees to be trained on and certify compliance with the Environmental, Health, Safety, and Security Policy • Annually require 100% of employees to be trained on diversity and inclusion matters • Annually require 100% of employees to be trained on and certify compliance with Anti - corruption Compliance Policy Food Security and Product Stewardship Ethics and Governance Goals aligned with material ESG issues (cont’d)