Clean Ammonia Market Growth and Fertilizer Industry Outlook
Balanced approach to capital allocation through the cycle
2023 Capital Allocation
US$ Billions
Historical Capital Allocation (2018-2022)
Percent
$5.0B - $5.8B
~$0.4B
Lease Payments¹
Completed Acquisitions³
Dividends Paid
~$1.2B
Investing Capital¹
20%
24%
Sustaining, Mine Development
~$1.8B
& Pre-Stripping1
Sustaining, Mine
Development &
Pre-Stripping
11%
Investing Capital
$0.9B
Completed
Share Repurchases³
37%
8%
Share
Acquisitions
~$1.0B
Dividends Paid4
Repurchases
2023 Scenario: Cash Provided
by Operating Activities 1,2
Planned Uses of Cash
Based on internal forecasts aligned with annual guidance provided in our news release dated May 10, 2023.
Assumes a -75% conversion ratio for Cash Provided by Operating Activities to Adjusted EBITDA based on the Adjusted EBITDA guidance range provided in our news release dated May 10, 2023.
Year to date as of March 31, 2023.
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1.
2.
3.
4.
Based on 499M shares outstanding.
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