Company: CF
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001104659-25-027767
Chunk: 7

Company: CF Industries Holdings, Inc.
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 7
---
7, (ii) the cumulative investment in each of Agrium and Potash Corp, assuming dividend reinvestments up to December 31, 2017, converted into shares of Nutrien on January 2, 2018 using the exchange ratio in the merger of equals transaction consummated on that date, and (iii) the stock price for Nutrien from January 2, 2018 through December 31, 2024. 5

TABLE OF CONTENTS

2024 PERFORMANCE HIGHLIGHTS Operating Results CF Industries’ 2024 financial results were driven by our strong operational performance, underpinned by favorable global nitrogen industry dynamics.

| ​ | ​ | Net EarningsAttributable toCommon Stockholders | ​ | ​ | ​ | EarningsPer DilutedShare | ​ | ​ | ​ | EBITDA(1)     | ​ | ​ | ​ | AdjustedEBITDA(As Reported)(1) | ​ | ​ | ​ | Net Cash Providedby OperatingActivities | ​ | ​ |
| ​ | ​ | $1.22 Billion                                  | ​ | ​ | ​ |                    $6.74 | ​ | ​ | ​ | $2.33 Billion | ​ | ​ | ​ | $2.28 Billion                  | ​ | ​ | ​ | $2.27 Billion                           | ​ | ​ |

In addition to strong financial results, the company continued to deliver on its strategic priorities and create long-term shareholder value.

| ​ | ​ | Safety                  | ​ | ​ | ​ | As of December 31, 2024, the company’s 12-month rolling average recordable incident rate was 0.31 incidents per 200,000 work hours – an industry leading result              | ​ | ​ |
| ​ | ​ | Operational Excellence  | ​ | ​ | ​ | Long-term asset utilization over the last five years is approximately 8% higher than the average utilization rate of our North American competitors                          | ​ | ​ |
| ​ | ​ | Efficiency              | ​ | ​ | ​ | SG&A costs as a percentage of sales remained among the lowest in both the chemicals and fertilizer industries in 2024                                                        | ​ | ​ |
| ​ | ​ | Return to Shareholders  | ​ | ​ | ​ | Returned $1.87 billion to shareholders in 2024 through $1.51 billion in share repurchases and $364 million in dividend payments                                              | ​ | ​ |
| ​ | ​ | Clean Energy Commit