Document:

EX-10.1

CHS INC.

_______________________________

MASTER NOTE PURCHASE AGREEMENT

_______________________________

Dated as of June 9, 2011

$130,000,000 4.08% Series L Senior Notes due June 9, 2019

$160,000,000 4.52% Series M Senior Notes due June 9, 2021

$130,000,000 4.67% Series N Senior Notes due June 9, 2023

$80,000,000 4.82% Series O Senior Notes due June 9, 2026

	 	 	 	 	 	 	 	 	 
	1.
	 	AUTHORIZATION OF NOTES	 	 	1	 
	 
	 	 	 	 	 	 	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	1.1	 	 	Description of Notes to be Issued
	 	 	1	 
	 	 	 	 	 	1.2	 	 	Additional Series of Notes
	 	 	1	 
	 	2.	 	 	SALE AND PURCHASE OF NOTES	 	 	2	 
	 	3.	 	 	CLOSING	 	 
	 	 	2	 
	 	4.	 	 	CONDITIONS TO CLOSING	 	 
	 	 	3	 
	 	 	 	 	 	4.1	 	 	Representations and Warranties
	 	 	3	 
	 	 	 	 	 	4.2	 	 	Performance; No Default
	 	 	3	 
	 	 	 	 	 	4.3	 	 	Compliance Certificates
	 	 	3	 
	 	 	 	 	 	4.4	 	 	Opinions of Counsel
	 	 	4	 
	 	 	 	 	 	4.5	 	 	Purchase Permitted By Applicable Law, etc
	 	 	4	 
	 	 	 	 	 	4.6	 	 	Sale of Other 2011 Notes
	 	 	4	 
	 	 	 	 	 	4.7	 	 	Payment of Special Counsel Fees
	 	 	4	 
	 	 	 	 	 	4.8	 	 	Private Placement Number
	 	 	4	 
	 	 	 	 	 	4.9	 	 	Changes in Corporate Structure
	 	 	4	 
	 	 	 	 	 	4.10	 	 	Funding Instructions
	 	 	5	 
	 	 	 	 	 	4.11	 	 	Offeree Letter
	 	 	5	 
	 	 	 	 	 	4.12	 	 	Proceedings and Documents
	 	 	5	 
	 	5.	 	 	REPRESENTATIONS AND WARRANTIES OF THE COMPANY	 	 	5	 
	 	 	 	 	 	5.1	 	 	Organization; Power and Authority
	 	 	5	 
	 	 	 	 	 	5.2	 	 	Authorization, etc
	 	 	5	 
	 	 	 	 	 	5.3	 	 	Disclosure
	 	 	6	 
	 	 	 	 	 	5.4	 	 	Organization and Ownership of Shares of Subsidiaries; Affiliates
	 	 	6	 
	 	 	 	 	 	5.5	 	 	Financial Statements; Material Liabilities
	 	 	7	 
	 	 	 	 	 	5.6	 	 	Compliance with Laws, Other Instruments, etc
	 	 	7	 
	 	 	 	 	 	5.7	 	 	Governmental Authorizations, etc
	 	 	8	 
	 	 	 	 	 	5.8	 	 	Litigation; Observance of Agreements, Statutes and Orders
	 	 	8	 
	 	 	 	 	 	5.9	 	 	Taxes
	 	 	8	 
	 	 	 	 	 	5.10	 	 	Title to Property; Leases
	 	 	9	 
	 	 	 	 	 	5.11	 	 	Permits and Other Operating Rights
	 	 	9	 
	 	 	 	 	 	5.12	 	 	Intellectual Property
	 	 	9	 
	 	 	 	 	 	5.13	 	 	Compliance with ERISA
	 	 	10	 
	 	 	 	 	 	5.14	 	 	Private Offering by the Company
	 	 	11	 
	 	 	 	 	 	5.15	 	 	Use of Proceeds; Margin Regulations
	 	 	11	 
	 	 	 	 	 	5.16	 	 	Existing Debt; Future Liens
	 	 	11	 
	 	 	 	 	 	5.17	 	 	Foreign Assets Control Regulations, etc
	 	 	12	 
	 	 	 	 	 	5.18	 	 	Status under Certain Statutes
	 	 	12	 
	 	 	 	 	 	5.19	 	 	Environmental Matters
	 	 	13	 
	 	 	 	 	 	5.20	 	 	Solvency
	 	 	13	 
	 	 	 	 	 	5.21	 	 	Hostile Tender Offers
	 	 	13	 
	 	 	 	 	 	5.22	 	 	Ranking of 2011 Notes
	 	 	13	 
	 	6.	 	 	REPRESENTATIONS OF THE PURCHASER	 	 	14	 
	 	 	 	 	 	6.1	 	 	Purchase for Investment
	 	 	14	 
	 	 	 	 	 	6.2	 	 	Source of Funds
	 	 	14	 
	 	7.	 	 	INFORMATION AS TO COMPANY	 	 
	 	 	16	 
	 	 	 	 	 	7.1	 	 	Financial and Business Information
	 	 	16	 
	 	 	 	 	 	7.2	 	 	Officer’s Certificate
	 	 	18	 
	 	 	 	 	 	7.3	 	 	Inspection
	 	 	19	 
	 	8.	 	 	INTEREST; PAYMENT OF THE NOTES	 	 	19	 
	 	 	 	 	 	8.1	 	 	Interest Payments
	 	 	19	 
	 	 	 	 	 	8.2	 	 	Offer to Pay Notes Upon Change in Control
	 	 	19	 
	 	 	 	 	 	8.3	 	 	Optional Prepayments with Make-Whole Amount
	 	 	21	 
	 	 	 	 	 	8.4	 	 	Allocation of Partial Prepayments
	 	 	21	 
	 	 	 	 	 	8.5	 	 	Maturity; Surrender, etc
	 	 	21	 
	 	 	 	 	 	8.6	 	 	Purchase of Notes
	 	 	21	 
	 	 	 	 	 	8.7	 	 	Make-Whole Amount
	 	 	22	 
	 	9.	 	 	AFFIRMATIVE COVENANTS	 	 
	 	 	23	 
	 	 	 	 	 	9.1	 	 	Compliance with Laws
	 	 	23	 
	 	 	 	 	 	9.2	 	 	Insurance
	 	 	24	 
	 	 	 	 	 	9.3	 	 	Maintenance of Properties
	 	 	24	 
	 	 	 	 	 	9.4	 	 	Payment of Taxes and Claims
	 	 	24	 
	 	 	 	 	 	9.5	 	 	Corporate Existence, etc
	 	 	24	 
	 	 	 	 	 	9.6	 	 	Pari Passu
	 	 	25	 
	 	10.	 	 	NEGATIVE COVENANTS	 	 
	 	 	25	 
	 	 	 	 	 	10.1	 	 	Transactions with Affiliates
	 	 	25	 
	 	 	 	 	 	10.2	 	 	Merger, Consolidation, etc
	 	 	25	 
	 	 	 	 	 	10.3	 	 	Consolidated Funded Debt to Consolidated Cash Flow
	 	 	26	 

	 	10.4	 	Adjusted Consolidated Funded Debt to Consolidated Members’ and Patrons’
Equity 26	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	10.5	 	 	Priority Debt
	 	 	26	 	 	 	 	 
	 	 	 	 	 	10.6	 	 	Liens
	 	 	27	 	 	 	 	 
	 	 	 	 	 	10.7	 	 	Sale of Assets
	 	 	29	 	 	 	 	 
	 	 	 	 	 	10.8	 	 	Line of Business
	 	 	33	 	 	 	 	 
	 	 	 	 	 	10.9	 	 	Subsidiary Distribution Restrictions
	 	 	33	 	 	 	 	 
	 	 	 	 	 	10.10	 	 	[Intentionally Omitted.]
	 	 	33	 	 	 	 	 
	 	 	 	 	 	10.11	 	 	[Intentionally Omitted.]
	 	 	33	 	 	 	 	 
	 	 	 	 	 	10.12	 	 	Terrorism Sanctions Regulations
	 	 	33	 	 	 	 	 
	 	11.	 	 	EVENTS OF DEFAULT	 	 
	 	 	33	 	 	 	 	 
	 	12.	 	 	REMEDIES ON DEFAULT, ETC	 	 
	 	 	35	 	 	 	 	 
	 	 	 	 	 	12.1	 	 	Acceleration
	 	 	35	 	 	 	 	 
	 	 	 	 	 	12.2	 	 	Other Remedies
	 	 	36	 	 	 	 	 
	 	 	 	 	 	12.3	 	 	Rescission
	 	 	36	 	 	 	 	 
	 	 	 	 	 	12.4	 	 	No Waivers or Election of Remedies, Expenses, etc
	 	 	37	 	 	 	 	 
	 	13.	 	 	REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES	 	 	37	 	 	 	 	 
	 	 	 	 	 	13.1	 	 	Registration of Notes
	 	 	37	 	 	 	 	 
	 	 	 	 	 	13.2	 	 	Transfer and Exchange of Notes
	 	 	37	 	 	 	 	 
	 	 	 	 	 	13.3	 	 	Replacement of Notes
	 	 	38	 	 	 	 	 
	 	14.	 	 	PAYMENTS ON NOTES	 	 
	 	 	38	 	 	 	 	 
	 	 	 	 	 	14.1	 	 	Place of Payment
	 	 	38	 	 	 	 	 
	 	 	 	 	 	14.2	 	 	Home Office Payment
	 	 	38	 	 	 	 	 
	 	15.	 	 	EXPENSES, ETC	 	 
	 	 	39	 	 	 	 	 
	 	 	 	 	 	15.1	 	 	Transaction Expenses
	 	 	39	 	 	 	 	 
	 	 	 	 	 	15.2	 	 	Survival
	 	 	39	 	 	 	 	 
	 	16.	 	 	SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT	 	 	 	 	 	 	39	 
	 	17.	 	 	AMENDMENT AND WAIVER	 	 
	 	 	40	 	 	 	 	 
	 	 	 	 	 	17.1	 	 	Requirements
	 	 	40	 	 	 	 	 
	 	 	 	 	 	17.2	 	 	Solicitation of Holders of Notes
	 	 	40	 	 	 	 	 
	 	 	 	 	 	17.3	 	 	Binding Effect, etc
	 	 	41	 	 	 	 	 
	 	 	 	 	 	17.4	 	 	Notes held by Company, etc
	 	 	41	 	 	 	 	 
	 	18.	 	 	NOTICES	 	 
	 	 	41	 	 	 	 	 
	 	19.	 	 	REPRODUCTION OF DOCUMENTS	 	 
	 	 	41	 	 	 	 	 
	 	20.	 	 	CONFIDENTIAL INFORMATION	 	 
	 	 	42	 	 	 	 	 
	 	21.	 	 	SUBSTITUTION OF PURCHASER	 	 
	 	 	43	 	 	 	 	 
	 	22.	 	 	MISCELLANEOUS	 	 
	 	 	43	 	 	 	 	 
	 	 	 	 	 	22.1	 	 	Successors and Assigns
	 	 	43	 	 	 	 	 
	 	 	 	 	 	22.2	 	 	Payments Due on Non-Business Days
	 	 	43	 	 	 	 	 
	 	 	 	 	 	22.3	 	 	Accounting Terms
	 	 	44	 	 	 	 	 
	 	 	 	 	 	22.4	 	 	Severability
	 	 	44	 	 	 	 	 
	 	 	 	 	 	22.5	 	 	Construction
	 	 	44	 	 	 	 	 
	 	 	 	 	 	22.6	 	 	Counterparts
	 	 	44	 	 	 	 	 
	 	 	 	 	 	22.7	 	 	Governing Law
	 	 	45	 	 	 	 	 
	 	 	 	 	 	22.8	 	 	Jurisdiction and Process; Waiver of Jury Trial
	 	 	45	 	 	 	 	 

Schedules and Exhibits

	 	 	 	 	 
	Schedule A
	 	—
	 	Information Relating to Purchasers

	Schedule B
	 	—
	 	Defined Terms

	Schedule 4.9
	 	—
	 	Changes in Corporate Structure

	Schedule 5.3
	 	—
	 	Disclosure Materials

	Schedule 5.4
	 	—
	 	Subsidiaries of the Company and Ownership of Subsidiary

Stock

	Schedule 5.5
	 	—
	 	Financial Statements

	Schedule 5.6
	 	—
	 	Restrictions on Debt

	Schedule 5.12
	 	—
	 	Intellectual Property

	Schedule 5.16
	 	—
	 	Existing Debt

	Exhibit 1.1(a)
	 	—
	 	Form of 4.08% Series L Senior Notes due June 9, 2019

	Exhibit 1.1(b)
	 	—
	 	Form of 4.52% Series M Senior Notes due June 9, 2021

	Exhibit 1.1(c)
	 	—
	 	Form of 4.67% Series N Senior Notes due June 9, 2023

	Exhibit 1.1(d)
	 	—
	 	Form of 4.82% Series O Senior Notes due June, 2026

	Exhibit 1.2
	 	—
	 	Form of Supplement

	Exhibit 4.4(a)
	 	—
	 	Form of Opinion of Special Counsel for the Company

	Exhibit 4.4(b)
	 	—
	 	Form of Opinion of Special Counsel for the Purchasers

CHS INC.

5500 Cenex Drive

Inver Grove Heights, MN 55077

$130,000,000 4.08% Series L Senior Notes due June 9, 2019

$160,000,000 4.52% Series M Senior Notes due June 9, 2021

$130,000,000 4.67% Series N Senior Notes due June 9, 2023

$80,000,000 4.82% Series O Senior Notes due June 9, 2026

Dated as of June 9, 2011

To Each of The Purchasers Listed in

Schedule A Hereto:

Ladies and Gentlemen:

CHS Inc., a nonstock agricultural cooperative corporation organized under the laws of the
State of Minnesota (the “Company”), agrees with each of the purchasers whose names appear at the
end hereof (each, a “Purchaser” and, collectively, the “Purchasers”) as follows:

1. AUTHORIZATION OF NOTES.

1.1 Description of Notes to be Issued.

The Company will authorize the issue and sale of (a) $130,000,000 aggregate principal amount
of its 4.08% Series L Senior Notes due June 9, 2019 (the “Series L Notes”), (b) $160,000,000
aggregate principal amount of its 4.52% Series M Senior Notes due June 9, 2021 (the “Series M
Notes”), (c) $130,000,000 aggregate principal amount of its 4.67% Series N Senior Notes due June 9,
2023 (the “Series N Notes”) and (d) $80,000,000 aggregate principal amount of its 4.82% Series O
Senior Notes due June 9, 2026 (the “Series O Notes” and together with the Series N Notes, the
Series O Notes and the Series N Notes, collectively, the “2011 Notes”, such term to include any
such notes issued in substitution therefor pursuant to Section 13 of this Agreement). The Series L
Notes, the Series M Notes, the Series N Notes and the Series O Notes shall be substantially in the
form set out in Exhibit 1.1(a), Exhibit 1.1(b), Exhibit 1.1(c) and
Exhibit 1.1(d), respectively. Certain capitalized terms used in this Agreement are defined
in Schedule B hereto; references to a “Schedule” or an “Exhibit” are, unless otherwise
specified, to a Schedule or an Exhibit attached to this Agreement; and references to a “Section”
are, unless otherwise specified, references to a Section of this Agreement.

1.2 Additional Series of Notes.

In addition to the issuance and sale of the 2011 Notes, the Company may from time to time
issue and sell one or more additional Series of notes (the “Additional Notes” and together with the
2011 Notes, the “Notes”, such term to include any such Notes issued in substitution therefor
pursuant to Section 13 of this Agreement) pursuant to this Agreement; provided that the aggregate
principal amount of all Notes issued pursuant to this Agreement that may be outstanding at any time
shall not exceed $1,500,000,000. Each Series of Additional Notes will be issued pursuant to a
supplement to this Agreement (a “Supplement”) in substantially the form of Exhibit 1.2, and
will be subject to the following terms and conditions:

(a) the designation of each Series of Additional Notes shall distinguish such Series
from the Notes of all other Series;

(b) each Series of Additional Notes may consist of different and separate tranches and
may differ as to outstanding principal amounts, maturity dates, interest rates, make-whole
amounts, if any, and price and terms of redemption or payment prior to maturity;

(c) all Notes issued under this Agreement, including pursuant to any Supplement, shall
rank pari passu with each other;

(d) each Series of Additional Notes shall be dated the date of issue, bear interest at
such rate or rates, mature on such date or dates, be subject to such mandatory or optional
prepayments, if any, on the dates and with the make-whole amounts, if any, as are provided
in the Supplement under which such Additional Notes are issued, and shall have such
additional or different conditions precedent to closing and such additional or different
representations and warranties or other terms and provisions as shall be specified in such
Supplement;

(e) any additional or more restrictive covenants, Events of Default, rights (including,
without limitation, any additional put rights) or similar provisions that are added by a
Supplement for the benefit of the Series of Notes to be issued pursuant to such Supplement
shall apply to all outstanding Notes, whether or not the Supplement so provides, so long as
the Notes outstanding under such Supplement remain outstanding (an “Incorporated
Provision”); and

(f) except to the extent provided in foregoing clause (d), all of the provisions of
this Agreement shall apply to all Additional Notes.

2. SALE AND PURCHASE OF NOTES.

Subject to the terms and conditions of this Agreement, the Company will issue and sell to each
Purchaser and each Purchaser will purchase from the Company, at the Closing provided for in Section
3, 2011 Notes in the principal amount and in the Series specified opposite such Purchaser’s name in
Schedule A at the purchase price of 100% of the principal amount thereof. The Purchasers’
obligations hereunder are several and not joint obligations and no Purchaser shall have any
liability to any Person for the performance or non-performance of any obligation by any other
Purchaser hereunder.

3. CLOSING.

The sale and purchase of the 2011 Notes to be purchased by each Purchaser shall occur at the
offices of Bingham McCutchen LLP, 399 Park Avenue, New York, New York 10022 at 10:00 a.m., local
time, at a closing (the “Closing”) on June 9, 2011. At the Closing, the Company will deliver to
each Purchaser the 2011 Notes to be purchased by such Purchaser in the form of a single Note of
each Series to be purchased by such Purchaser (or such greater number of 2011 Notes of each such
Series in denominations of at least $500,000 as such Purchaser may request), dated the date of the
Closing and registered in such Purchaser’s name (or in the name of its nominee), as indicated in
Schedule A, against delivery by such Purchaser to the Company or its order of immediately
available funds in the amount of the purchase price therefor by wire transfer of immediately
available funds for the account of the Company to Wells Fargo Bank, San Francisco, California,
routing number 121000248, account number 0000044070, Beneficiary: CHS Inc. If at the Closing the
Company shall fail to tender such 2011 Notes to any Purchaser as provided above in this Section 3,
or any of the conditions specified in Section 4 shall not have been fulfilled to such Purchaser’s
satisfaction, such Purchaser shall, at its election, be relieved of all further obligations under
this Agreement, without thereby waiving any rights such Purchaser may have by reason of such
failure or such nonfulfillment.

4. CONDITIONS TO CLOSING.

Each Purchaser’s obligation to purchase and pay for the 2011 Notes to be sold to such
Purchaser at the Closing is subject to the fulfillment to such Purchaser’s satisfaction, prior to
or at the Closing, of the following conditions:

4.1 Representations and Warranties.

The representations and warranties of the Company in this Agreement shall be correct when made
and at the time of the Closing.

4.2 Performance; No Default.

The Company shall have performed and complied with all agreements and conditions contained in
this Agreement required to be performed or complied with by the Company prior to or at the Closing
and after giving effect to the issue and sale of the 2011 Notes (and the application of the
proceeds thereof as contemplated by Section 5.15), no Default or Event of Default shall have
occurred and be continuing. Neither the Company nor any Subsidiary shall have entered into any
transaction since the date of the Memorandum that would have been prohibited by Sections 10.1,
10.3, 10.4, 10.5, 10.7 or 10.12 hereof had such Sections applied since such date.

4.3 Compliance Certificates.

(a) Officer’s Certificate.  The Company shall have delivered to such Purchaser
an Officer’s Certificate, dated the date of the Closing, certifying that the conditions
specified in Sections 4.1, 4.2 and 4.9 have been fulfilled.

(b) Secretary’s Certificate.  The Company shall have delivered to such
Purchaser a certificate, signed on its behalf by its Secretary or its Assistant Secretary,
and one other officer of the Company, dated the date of the Closing, certifying as to (i)
the resolutions attached thereto and other corporate proceedings relating to the
authorization, execution and delivery of the 2011 Notes and this Agreement and (ii) the
Company’s organizational documents.

4.4 Opinions of Counsel.

Such Purchaser shall have received opinions in form and substance satisfactory to such
Purchaser, dated the date of the Closing (a) from Dorsey & Whitney LLP, counsel for the Company,
covering the matters set forth in Exhibit 4.4(a) and covering such other matters incident
to the transactions contemplated hereby as such Purchaser or its counsel may reasonably request
(and the Company hereby instructs its counsel to deliver such opinion to the Purchasers) and (b)
from Bingham McCutchen LLP, the Purchasers’ special counsel in connection with such transactions,
substantially in the form set forth in Exhibit 4.4(b) and covering such other matters
incident to such transactions as such Purchaser may reasonably request.

4.5 Purchase Permitted By Applicable Law, etc.

On the date of the Closing, such Purchaser’s purchase of 2011 Notes shall (a) be permitted by
the laws and regulations of each jurisdiction to which such Purchaser is subject, without recourse
to provisions (such as section 1405(a)(8) of the New York Insurance Law) permitting limited
investments by insurance companies without restriction as to the character of the particular
investment, (b) not violate any applicable law or regulation (including, without limitation,
Regulation T, U or X of the Board of Governors of the Federal Reserve System) and (c) not subject
such Purchaser to any tax, penalty or liability under or pursuant to any applicable law or
regulation, which law or regulation was not in effect on the date hereof. If requested by such
Purchaser, such Purchaser shall have received an Officer’s Certificate certifying as to such
matters of fact as such Purchaser may reasonably specify to enable such Purchaser to determine
whether such purchase is so permitted.

4.6 Sale of Other 2011 Notes.

Contemporaneously with the Closing, the Company shall sell to each other Purchaser and each
other Purchaser shall purchase the 2011 Notes to be purchased by it at the Closing as specified in
Schedule A.

4.7 Payment of Special Counsel Fees.

Without limiting the provisions of Section 15.1, the Company shall have paid on or before the
Closing the fees, charges and disbursements of the Purchasers’ special counsel referred to in
Section 4.4 to the extent reflected in a statement of such counsel rendered to the Company at least
one (1) Business Day prior to the Closing.

4.8 Private Placement Number.

A Private Placement Number issued by Standard & Poor’s CUSIP Service Bureau (in cooperation
with the SVO) shall have been obtained for each Series of the 2011 Notes.

4.9 Changes in Corporate Structure.

Except as specified in Schedule 4.9, the Company shall not have changed its
jurisdiction of incorporation or been a party to any merger or consolidation and shall not have
succeeded to all or any substantial part of the liabilities of any other entity, at any time
following the date of the most recent financial statements referred to in Schedule 5.5.

4.10 Funding Instructions.

At least three Business Days prior to the date of the Closing, each Purchaser shall have
received written instructions signed by a Responsible Officer on letterhead of the Company
confirming the information specified in Section 3 including (a) the name and address of the
transferee bank, (b) such transferee bank’s ABA number and (c) the account name and number into
which the purchase price for the 2011 Notes is to be deposited.

4.11 Offeree Letter.

SunTrust Robinson Humphrey, Inc. and U.S. Bancorp Investments, Inc. shall have delivered to
the Company, their counsel, such Purchaser, and its special counsel an offeree letter, in form and
substance satisfactory to such Purchaser, confirming the manner of the offering of the 2011 Notes
by SunTrust Robinson Humphrey, Inc. and U.S. Bancorp Investments, Inc.

4.12 Proceedings and Documents.

All corporate and other proceedings in connection with the transactions contemplated by this
Agreement and all documents and instruments incident to such transactions shall be satisfactory to
such Purchaser and its special counsel, and such Purchaser and its special counsel shall have
received all such counterpart originals or certified or other copies of such documents as such
Purchaser or such special counsel may reasonably request.

5. REPRESENTATIONS AND WARRANTIES OF THE COMPANY.

	 	 	 	 	 
	The Company represents and warrants to each Purchaser that:
	 	5.1	 	 	Organization; Power and Authority.

The Company is a nonstock agricultural cooperative corporation duly organized, validly
existing and in good standing under the laws of the State of Minnesota, and is duly qualified as a
foreign corporation and is in good standing in each jurisdiction in which such qualification is
required by law, other than those jurisdictions as to which the failure to be so qualified or in
good standing could not, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect. The Company has the corporate power and authority to own or hold under
lease the properties it purports to own or hold under lease, to transact the business it transacts
and proposes to transact, to execute and deliver this Agreement and the 2011 Notes and to perform
the provisions hereof and thereof.

5.2 Authorization, etc.

The Company has all requisite corporate power to own and operate its respective properties and
to conduct its business as currently conducted and as currently proposed to be conducted. The
Company has all requisite corporate power to execute, deliver and perform its obligations under
this Agreement and the 2011 Notes. The Company has taken all necessary corporate action to
authorize the execution and delivery of, and the performance of its obligations under, this
Agreement and the 2011 Notes, and this Agreement constitutes, and upon execution and delivery
thereof each 2011 Note will constitute, a legal, valid and binding obligation of the Company
enforceable against the Company in accordance with its terms, except, in each case, as such
enforceability may be limited by (a) applicable bankruptcy, insolvency, reorganization, moratorium
or other similar laws affecting the enforcement of creditors’ rights generally and (b) general
principles of equity (regardless of whether such enforceability is considered in a proceeding in
equity or at law).

5.3 Disclosure.

The Company, through its agents, SunTrust Robinson Humphrey, Inc. and U.S. Bancorp
Investments, Inc., has delivered to each Purchaser a copy of a Private Placement Memorandum, dated
May, 2011 (the “Memorandum”), relating to the transactions contemplated hereby. The Memorandum
fairly describes, in all material respects, the general nature of the business and principal
properties of the Company and its Subsidiaries. Except as disclosed in Schedule 5.3, this
Agreement, the Memorandum and the documents, certificates or other writings delivered to the
Purchasers by or on behalf of the Company in connection with the transactions contemplated hereby
and identified in Schedule 5.3, and the financial statements listed in Schedule 5.5
(this Agreement, the Memorandum and such documents, certificates or other writings and such
financial statements being referred to, collectively, as the “Disclosure Documents”), taken as a
whole, do not contain any untrue statement of a material fact or omit to state any material fact
necessary to make the statements herein or therein not misleading in light of the circumstances
under which they were made. Except as disclosed in the Disclosure Documents, since August 31,
2010, there has been no change in the financial condition, operations, business or properties of
the Company or any Subsidiary except changes that individually or in the aggregate could not
reasonably be expected to have a Material Adverse Effect. There is no fact known to the Company
that could reasonably be expected to have a Material Adverse Effect that has not been set forth
herein or in the Disclosure Documents.

5.4 Organization and Ownership of Shares of Subsidiaries; Affiliates.

(a) Schedule 5.4 contains (except as noted therein) complete and correct lists
of (i) the Company’s Subsidiaries, showing, as to each Subsidiary, the correct name thereof,
the jurisdiction of its organization, and the percentage of shares of each class of its
capital stock or similar equity interests outstanding owned by the Company and each other
Subsidiary, (ii) the Company’s Affiliates, other than Subsidiaries, and (iii) the Company’s
directors and senior officers.

(b) All of the outstanding shares of capital stock or similar equity interests of each
Subsidiary shown in Schedule 5.4 as being owned by the Company or its Subsidiaries
have been validly issued, are fully paid and nonassessable and are owned by the Company or
another Subsidiary free and clear of any Lien (except as otherwise disclosed in Schedule
5.4).

(c) Each Subsidiary identified in Schedule 5.4 is a corporation or other legal
entity duly organized, validly existing and, where applicable, in good standing under the
laws of its jurisdiction of organization, and is duly qualified as a foreign corporation or
other legal entity and, where applicable, is in good standing in each jurisdiction in which
such qualification is required by law, other than those jurisdictions as to which the
failure to be so qualified or in good standing could not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect. Each such Subsidiary has the
corporate or other power and authority to own or hold under lease the properties it purports
to own or hold under lease and to transact the business it transacts and proposes to
transact.

(d) No Subsidiary is a party to, or otherwise subject to any legal, regulatory,
contractual or other restriction (other than this Agreement, the agreements listed on
Schedule 5.4 and customary limitations imposed by corporate law or similar statutes)
restricting the ability of such Subsidiary to pay dividends out of profits or make any other
similar distributions of profits to the Company or any of its Subsidiaries that owns
outstanding shares of capital stock or similar equity interests of such Subsidiary.

5.5 Financial Statements; Material Liabilities.

The Company has delivered to each Purchaser copies of the financial statements of the Company
and its Subsidiaries listed on Schedule 5.5. All of said financial statements (including
in each case the related schedules and notes) fairly present in all material respects the
consolidated financial position of the Company and its Subsidiaries as of the respective dates
specified in such Schedule and the consolidated results of their operations and cash flows for the
respective periods so specified and have been prepared in accordance with GAAP consistently applied
throughout the periods involved except as set forth in the notes thereto (subject, in the case of
any interim financial statements, to normal year-end adjustments). The Company and its
Subsidiaries do not have any Material liabilities that are not disclosed on such financial
statements or otherwise disclosed in the Disclosure Documents.

5.6 Compliance with Laws, Other Instruments, etc.

The execution, delivery and performance by the Company of this Agreement and the 2011 Notes
will not (a) contravene, result in any breach of, or constitute a default under, or result in the
creation of any Lien in respect of any property of the Company or any Subsidiary under, any
indenture, mortgage, deed of trust, loan, purchase or credit agreement, lease, corporate charter or
by-laws, or any other agreement or instrument to which the Company or any Subsidiary is bound or by
which the Company or any Subsidiary or any of their respective properties may be bound or affected,
(b) conflict with or result in a breach of any of the terms, conditions or provisions of any order,
judgment, decree, or ruling of any court, arbitrator or Governmental Authority applicable to the
Company or any Subsidiary or (c) violate any provision of any statute or other rule or regulation
of any Governmental Authority applicable to the Company or any Subsidiary. The Company is not a
party to any contract or agreement or subject to any charter or other corporate restrictions which
materially and adversely affects its business, property, assets, financial condition or results of
operations, and the Company is not a party to, or otherwise subject to any provision contained in,
any instrument evidencing Debt of the Company, any agreement relating thereto or any other contract
or agreement (including its charter) which limits the amount of, or otherwise imposes restrictions
on the incurring of, Debt of the Company of the type to be evidenced by the 2011 Notes except as
set forth in the agreements listed in Schedule 5.6 attached hereto. The provisions of this
Agreement and the 2011 Notes do not contravene any agreement listed in Schedule 5.6.

5.7 Governmental Authorizations, etc.

No consent, approval or authorization of, or registration, filing or declaration with, any
Governmental Authority is required in connection with the execution, delivery or performance by the
Company of this Agreement or the 2011 Notes.

5.8 Litigation; Observance of Agreements, Statutes and Orders.

(a) There are no actions, suits, investigations or proceedings pending or, to the
knowledge of the Company or any of its Subsidiaries, threatened against or affecting the
Company or any Subsidiary or any properties or rights of the Company or any Subsidiary in
any court or before any arbitrator of any kind or before or by any Governmental Authority
that, individually or in the aggregate, could reasonably be expected to have a Material
Adverse Effect.

(b) Neither the Company nor any Subsidiary is (i) in default under any term of any
agreement or instrument to which it is a party or by which it is bound, (ii) in violation of
any order, judgment, decree or ruling of any court, arbitrator or Governmental Authority or
(iii) in violation of any applicable law, ordinance, rule or regulation of any Governmental
Authority (including, without limitation, Environmental Laws, the USA PATRIOT Act or any of
the others laws and regulations that are referred to in Section 5.17), which default or
violation, individually or in the aggregate, could reasonably be expected to have a Material
Adverse Effect.

5.9 Taxes.

The Company and its Subsidiaries have filed all U.S. federal, state and, to the knowledge of
the officers of the Company, other tax returns that are required to have been filed in any
jurisdiction, and have paid all taxes shown to be due and payable on such returns and all other
taxes and assessments levied upon them or their properties, assets, income or franchises, to the
extent such taxes and assessments have become due and payable and before they have become
delinquent, except for any taxes and assessments (a) the amount of which is not individually or in
the aggregate Material or (b) the amount, applicability or validity of which is currently being
contested in good faith by appropriate proceedings and with respect to which the Company or a
Subsidiary, as the case may be, has established adequate reserves in accordance with GAAP. The
Company knows of no basis for any other tax or assessment that could reasonably be expected to have
a Material Adverse Effect. The charges, accruals and reserves on the books of the Company and its
Subsidiaries in respect of U.S. federal, state or other taxes for all fiscal periods are adequate.
The U.S. federal income tax liabilities of the Company and its Subsidiaries have been determined by
the Internal Revenue Service and paid for all fiscal years up to and including the fiscal year
ended August 31, 2005. The Company is a cooperative association taxed under the provisions of
“subchapter T” of the Code and the Company does not presently intend to alter its status as a
subchapter T cooperative association for U.S. federal income tax purposes.

5.10 Title to Property; Leases.

Except for minor defects in title which, individually or in the aggregate, could not
reasonably be expected to have a Material Adverse Effect, the Company has and each of its
Subsidiaries has good and indefeasible title to its respective real properties (other than
properties which it leases) and good title to all of its other respective properties and assets
that individually or in the aggregate are Material, including all such properties reflected in the
most recent audited balance sheet referred to in Section 5.5 or purported to have been acquired by
the Company or any Subsidiary after said date (except as sold or otherwise disposed of in the
ordinary course of business), in each case free and clear of Liens prohibited by this Agreement.
All leases that individually or in the aggregate are Material are valid and subsisting and are in
full force and effect in all material respects.

5.11 Permits and Other Operating Rights.

The Company and each Subsidiary of the Company has all such valid and sufficient certificates
of convenience and necessity, franchises, licenses, permits, operating rights and other
authorizations from all Governmental Authorities having jurisdiction over the Company or any
Subsidiary or any of its properties, as are necessary for the ownership, operation and maintenance
of its businesses and properties, as presently conducted and as proposed to be conducted while the
2011 Notes are outstanding, subject to exceptions and deficiencies which, individually or in the
aggregate, would not reasonably be expected to have a Material Adverse Effect, and such
certificates of convenience and necessity, franchises, licenses, permits, operating rights and
other authorizations from all Governmental Authorities or any of its properties are free from
restrictions or conditions which, individually or in the aggregate, would reasonably be expected to
have a Material Adverse Effect.

5.12 Intellectual Property.

Except as disclosed in Schedule 5.12,

(a) the Company and its Subsidiaries own or possess all patents, copyrights, service
marks, trademarks and trade names, or rights thereto, that individually or in the aggregate
are Material, without known conflict with the rights of others;

(b) to the best knowledge of the Company, no product or practice of the Company or any
Subsidiary infringes in any Material respect any license, permit, franchise, authorization,
patent, copyright, proprietary software, service mark, trademark, trade name or other right
owned by any other Person; and

(c) to the best knowledge of the Company, there is no Material violation by any Person
of any right of the Company or any of its Subsidiaries with respect to any patent,
copyright, proprietary software, service mark, trademark, trade name or other right owned or
used by the Company or any of its Subsidiaries.

5.13 Compliance with ERISA.

(a) The Company and each ERISA Affiliate have operated and administered each Plan in
compliance with all applicable laws except for such instances of noncompliance as have not
resulted in and could not reasonably be expected to result in a Material Adverse Effect.
Neither the Company nor any ERISA Affiliate has incurred any liability pursuant to Title I
or IV of ERISA (aside from ordinary claims for benefits under the Plans) or the penalty or
excise tax provisions of the Code relating to employee benefit plans (as defined in section
3 of ERISA), and no event, transaction or condition has occurred or exists that could
reasonably be expected to result in the incurrence of any such liability by the Company or
any ERISA Affiliate, or in the imposition of any Lien on any of the rights, properties or
assets of the Company or any ERISA Affiliate, in either case pursuant to Title I or IV of
ERISA or to such penalty or excise tax provisions or to section 430 or 436 of the Code or
section 4068 of ERISA, other than such liabilities or Liens as would not be individually or
in the aggregate Material.

(b) The present value of the aggregate benefit liabilities under each of the Plans
(other than Multiemployer Plans), determined as of the end of such Plan’s most recently
ended plan year on the basis of the actuarial assumptions specified for funding purposes in
such Plan’s most recent actuarial valuation report, did not exceed the aggregate current
value of the assets of such Plan allocable to such benefit liabilities by more than
$25,000,000 for any single Plan or by more than $40,000,000, in the aggregate, for all such
Plans. The term “benefit liabilities” has the meaning specified in section 4001 of ERISA
and the terms “current value” and “present value” have the meaning specified in section 3 of
ERISA.

(c) The Company and its ERISA Affiliates have not incurred withdrawal liabilities (and
are not subject to contingent withdrawal liabilities) under section 4201 or 4204 of ERISA in
respect of Multiemployer Plans that individually or in the aggregate are Material.

(d) The expected postretirement benefit obligation (determined as of the last day of
the Company’s most recently ended fiscal year in accordance with Financial Accounting
Standards Board Accounting Standards Codification 715-60, without regard to liabilities
attributable to continuation coverage mandated by section 4980B of the Code) of the Company
and its Subsidiaries is not Material.

(e) The execution and delivery of this Agreement and the issuance and sale of the 2011
Notes hereunder will not involve any transaction that is subject to the prohibitions of
section 406 of ERISA or in connection with which a tax could be imposed pursuant to section
4975(c)(1)(A)-(D) of the Code. The representation by the Company to each Purchaser in the
first sentence of this Section 5.13(e) is made in reliance upon and subject to the accuracy
of such Purchaser’s representation in Section 6.2 as to the sources of the funds used to pay
the purchase price of the 2011 Notes to be purchased by such Purchaser.

5.14 Private Offering by the Company.

Neither the Company nor anyone acting on its behalf has, directly or indirectly, offered the
2011 Notes or any similar Securities for sale to, or solicited any offer to buy any of the same
from, or otherwise approached or negotiated in respect thereof with, any Person other than the
Purchasers and not more than 60 other Institutional Investors (as defined in clause (c) of the
definition of such term), each of which has been offered the 2011 Notes at a private sale for
investment. Neither the Company nor anyone acting on its behalf has taken, or will take, any
action that would subject the issuance or sale of the 2011 Notes to the registration requirements
of Section 5 of the Securities Act or to the registration requirements of any securities or “blue
sky” laws of any applicable jurisdiction.

5.15 Use of Proceeds; Margin Regulations.

The Company will apply the proceeds of the sale of the 2011 Notes for working and general
capital requirements. No part of the proceeds from the sale of the 2011 Notes hereunder will be
used, directly or indirectly, for the purpose of buying or carrying any margin stock within the
meaning of Regulation U of the Board of Governors of the Federal Reserve System (12 CFR 221), or
for the purpose of buying or carrying or trading in any Securities under such circumstances as to
involve the Company in a violation of Regulation X of said Board (12 CFR 224) or to involve any
broker or dealer in a violation of Regulation T of said Board (12 CFR 220). Margin stock does not
constitute more than 5% of the value of the consolidated assets of the Company and its Subsidiaries
and the Company does not have any present intention that margin stock will constitute more than 5%
of the value of such assets. As used in this Section, the terms “margin stock” and “purpose of
buying or carrying” shall have the meanings assigned to them in said Regulation U.

5.16 Existing Debt; Future Liens.

(a) Except as described therein, Schedule 5.16 sets forth a complete and
correct list of all outstanding Debt of the Company and its Subsidiaries in excess of
$10,000,000 or having commitments in excess thereof as of the date of the Closing. Neither
the Company nor any Subsidiary is in default and no waiver of default is currently in
effect, in the payment of any principal or interest on any Debt of the Company or such
Subsidiary and no event or condition exists with respect to any Debt of the Company or any
Subsidiary that would permit (or that with notice or the lapse of time, or both, would
permit) one or more Persons to cause such Debt to become due and payable before its stated
maturity or before its regularly scheduled dates of payment.

(b) The aggregate amount of all outstanding Debt of the Company and its Subsidiaries
not set forth on Schedule 5.16 does not exceed $10,000,000.

(c) Except as disclosed in Schedule 5.16, neither the Company nor any
Subsidiary has agreed or consented to cause or permit in the future (upon the happening of a
contingency or otherwise) any of its property, whether now owned or hereafter acquired, to
be subject to a Lien not permitted by Section 10.6.

(d) Neither the Company nor any Subsidiary is a party to, or otherwise subject to any
provision contained in, any instrument evidencing Debt of the Company or such Subsidiary,
any agreement relating thereto or any other agreement (including, but not limited to, its
charter or other organizational document) which limits the amount of, or otherwise imposes
restrictions on the incurring of, Debt of the Company, except as specifically indicated in
Schedule 5.16.

5.17 Foreign Assets Control Regulations, etc.

(a) Neither the Company nor any Affiliated Entity is (i) a Person whose name appears on
the list of Specially Designated Nationals and Blocked Persons published by the Office of
Foreign Assets Control, U.S. Department of Treasury (“OFAC”) (an “OFAC Listed Person”), (ii)
a Person that is otherwise a sanctions target of the OFAC sanctions programs, or (iii) a
Person that is a department, agency or instrumentality of, or otherwise controlled by or
acting on behalf of, directly or indirectly, (A) any OFAC Listed Person or Person that is
otherwise a sanctions target, or (B) the government of a country subject to comprehensive
U.S. economic sanctions administered by OFAC, currently Iran, Sudan, Cuba, Burma, Syria and
North Korea, (each OFAC Listed Person and each other entity described in clauses (ii) and
(iii), collectively, a “Blocked Person”).

(b) No part of the proceeds from the sale of the 2011 Notes hereunder constitutes or
will constitute funds obtained on behalf of any Blocked Person or will otherwise be applied,
directly by the Company or indirectly through any Affiliated Entity, in any transactions or
dealings with, any Blocked Person.

(c) To the Company’s actual knowledge after making due inquiry, neither the Company nor
any Affiliated Entity (i) is under investigation by any Governmental Authority for, or has
been charged with, or convicted of, money laundering, drug trafficking, terrorist-related
activities or other money laundering predicate crimes under any applicable law
(collectively, “Anti-Money Laundering Laws”), (ii) has been assessed civil penalties under
any Anti-Money Laundering Laws or (iii) has had any of its funds seized or forfeited in an
action under any Anti-Money Laundering Laws. The Company has taken reasonable measures
appropriate to the circumstances (in any event as required by applicable law), to ensure
that the Company and each Affiliated Entity is and will continue to be in compliance with
all applicable Anti-Money Laundering Laws.

(d) No part of the proceeds from the sale of the 2011 Notes hereunder will be used,
directly or indirectly, for any improper payments to any governmental official or employee,
political party, official of a political party, candidate for political office, official of
any public international organization or anyone else acting in an official capacity, in
order to obtain, retain or direct business or obtain any improper advantage. The Company
has taken reasonable measures appropriate to the circumstances (in any event as required by
applicable law), to ensure that the Company and each Affiliated Entity is and will continue
to be in compliance with all applicable anti-corruption laws and regulations.

5.18 Status under Certain Statutes.

Neither the Company nor any Subsidiary is subject to regulation under the Investment Company
Act of 1940, as amended, the Public Utility Holding Company Act of 2005, as amended, the ICC
Termination Act of 1995, as amended, or the Federal Power Act, as amended.

5.19 Environmental Matters.

(a) Neither the Company nor any Subsidiary has knowledge of any claim or has received
any notice of any claim, and no proceeding has been instituted raising any claim against the
Company or any of its Subsidiaries or any of their respective real properties now or
formerly owned, leased or operated by any of them or other assets, alleging any damage to
the environment or violation of any Environmental Laws, except, in each case, such as could
not reasonably be expected to result in a Material Adverse Effect.

(b) Neither the Company nor any Subsidiary has knowledge of any facts which would give
rise to any claim, public or private, of violation of Environmental Laws or damage to the
environment emanating from, occurring on or in any way related to real properties now or
formerly owned, leased or operated by any of them or to other assets or their use, except,
in each case, such as could not reasonably be expected to result in a Material Adverse
Effect.

(c) Neither the Company nor any of its Subsidiaries has stored any Hazardous Materials
on real properties now or formerly owned, leased or operated by any of them and has not
disposed of any Hazardous Materials in a manner contrary to any Environmental Laws in each
case in any manner that could reasonably be expected to result in a Material Adverse Effect.

(d) All buildings on all real properties now owned, leased or operated by the Company
or any of its Subsidiaries are in compliance with applicable Environmental Laws, except
where failure to comply could not reasonably be expected to result in a Material Adverse
Effect.

5.20 Solvency.

The Company, after giving effect to the transactions contemplated by this Agreement and the
2011 Notes, will not be engaged in any business or transaction, or about to engage in any business
or transaction, for which the Company has unreasonably small assets or capital (within the meaning
of the Uniform Fraudulent Transfer Act, the Uniform Fraudulent Conveyance Act and Section 548 of
Title 11 of the United States Code), and the Company does not have any intent to hinder, delay or
defraud any Person to which it is, or will become, on or after the date of Agreement, indebted to
or to incur debts that would be beyond its ability to pay as they mature.

5.21 Hostile Tender Offers.

None of the proceeds of the sale of any 2011 Note will be used to finance a Hostile Tender
Offer.

5.22 Ranking of 2011 Notes.

The Company’s obligations under the 2011 Notes and this Agreement will, upon issuance of the
2011 Notes, rank at least pari passu, without preference or priority, with all of its other
outstanding unsecured and unsubordinated obligations, except for those obligations that are, or are
liable to be, mandatorily preferred by law.

6. REPRESENTATIONS OF THE PURCHASER.

6.1 Purchase for Investment.

Each Purchaser severally represents that (a) it is an “accredited investor” under Rule 501(a)
of Regulation D under the Securities Act and (b) it is purchasing the Notes for its own account or
for one or more separate accounts maintained by such Purchaser or for the account of one or more
pension or trust funds and not with a view to the distribution thereof, provided that the
disposition of such Purchaser’s or their property shall at all times be within such Purchaser’s or
their control. Each Purchaser understands that the Notes have not been registered under the
Securities Act and may be resold only if registered pursuant to the provisions of the Securities
Act or if an exemption from registration is available, except under circumstances where neither
such registration nor such an exemption is required by law, and that the Company is not required to
register the Notes.

6.2 Source of Funds.

Each Purchaser severally represents that at least one of the following statements is an
accurate representation as to each source of funds (a “Source”) to be used by such Purchaser to pay
the purchase price of the Notes to be purchased by such Purchaser hereunder:

(a) the Source is an “insurance company general account” (as the term is defined in the
United States Department of Labor’s Prohibited Transaction Exemption (“PTE”) 95-60) in
respect of which the reserves and liabilities (as defined by the annual statement for life
insurance companies approved by the NAIC (the “NAIC Annual Statement”)) for the general
account contract(s) held by or on behalf of any employee benefit plan together with the
amount of the reserves and liabilities for the general account contract(s) held by or on
behalf of any other employee benefit plans maintained by the same employer (or affiliate
thereof as defined in PTE 95-60) or by the same employee organization in the general account
do not exceed 10% of the total reserves and liabilities of the general account (exclusive of
separate account liabilities) plus surplus as set forth in the NAIC Annual Statement filed
with such Purchaser’s state of domicile; or

(b) the Source is a separate account that is maintained solely in connection with such
Purchaser’s fixed contractual obligations under which the amounts payable, or credited, to
any employee benefit plan (or its related trust) that has any interest in such separate
account (or to any participant or beneficiary of such plan (including any annuitant)) are
not affected in any manner by the investment performance of the separate account; or

(c) the Source is either (i) an insurance company pooled separate account, within the
meaning of PTE 90-1 or (ii) a bank collective investment fund, within the meaning of the PTE
91-38 and, except as disclosed by such Purchaser to the Company in writing pursuant to this
clause (c), no employee benefit plan or group of plans maintained by the same employer or
employee organization beneficially owns more than 10% of all assets allocated to such pooled
separate account or collective investment fund; or

(d) the Source constitutes assets of an “investment fund” (within the meaning of Part
VI of PTE 84-14 (the “QPAM Exemption”)) managed by a “qualified professional asset manager”
or “QPAM” (within the meaning of Part VI of the QPAM Exemption), no employee benefit plan’s
assets that are managed by QPAM in such investment fund, when combined with the assets of
all other employee benefit plans established or maintained by the same employer or by an
affiliate (within the meaning of Part VI(c)(1) of the QPAM Exemption) of such employer or by
the same employee organization and managed by such QPAM, represent more than 20% of the
total client assets managed by such QPAM, the conditions of Part I(c) and (g) of the QPAM
Exemption are satisfied, neither the QPAM nor a person controlling or controlled by the QPAM
maintains an ownership interest in the Company that would cause the QPAM and the Company to
be “related” within the meaning of Part VI(h) of the QPAM Exemption and (i) the identity of
such QPAM and (ii) the names of any employee benefit plans whose assets in the investment
fund, when combined with the assets of all other employee benefit plans established or
maintained by the same employer or by an affiliate (within the meaning of Part VI(c)(1) of
the QPAM Exemption) of such employer of by the same employee organization, represent 10% or
more of the assets of such investment fund, have been disclosed to the Company in writing
pursuant to this clause (d); or

(e) the Source constitutes assets of a “plan(s)” (within the meaning of Part IV(h) of
PTE 96-23 (the “INHAM Exemption”)) managed by an “in-house asset manager” or “INHAM” (within
the meaning of Part IV(a) of the INHAM Exemption), the conditions of Part I(a), (g) and (h)
of the INHAM Exemption are satisfied, neither the INHAM nor a person controlling or
controlled by the INHAM (applying the definition of “control” in Part IV(d) of the INHAM
Exemption) owns a 10% or more interest in the Company (as determined under Part IV(d) of the
INHAM Exemption, as amended effective April 1, 2011) and (i) the identity of such INHAM and
(ii) the name(s) of the employee benefit plan(s) whose assets constitute the Source have
been disclosed to the Company in writing pursuant to this clause (e); or

(f) the Source is a governmental plan; or

(g) the Source is one or more employee benefit plans, or a separate account or trust
fund comprised of one or more employee benefit plans, each of which has been identified to
the Company in writing pursuant to this clause (g); or

(h) the Source does not include assets of any employee benefit plan, other than a plan
exempt from the coverage of ERISA.

As used in this Section 6.2, the terms “employee benefit plan”, “governmental plan” and “separate
account” shall have the respective meanings assigned to such terms in section 3 of ERISA.

7. INFORMATION AS TO COMPANY.

7.1 Financial and Business Information.

The Company shall deliver to each holder of Notes that is an Institutional Investor:

(a) Quarterly Statements — within 45 days (or such shorter period as is 15
days greater than the period applicable to the filing of the Company’s Quarterly Report on
Form 10-Q (the “Form 10-Q”) with the SEC regardless of whether the Company is subject to the
filing requirements thereof) after the end of each quarterly fiscal period in each fiscal
year of the Company (other than the last quarterly fiscal period of each such fiscal year),
duplicate copies of,

(i) a consolidated balance sheet of the Company and its Subsidiaries as at the
end of such quarter, and

(ii) consolidated statements of income, changes in members’ equity and cash
flows of the Company and its Subsidiaries, for such quarter and (in the case of the
second and third quarters) for the portion of the fiscal year ending with such
quarter,

setting forth in each case in comparative form the figures for the corresponding periods in
the previous fiscal year, all in reasonable detail, prepared in accordance with GAAP
applicable to quarterly financial statements generally, and certified by a Senior Financial
Officer as fairly presenting, in all material respects, the financial position of the
companies being reported on and their results of operations and cash flows, subject to
changes resulting from year-end adjustments, provided that delivery within the time period
specified above of copies of the Company’s Form 10-Q prepared in compliance with the
requirements therefor and filed with the SEC shall be deemed to satisfy the requirements of
this Section 7.1(a), provided, further, that the Company shall be deemed to have made such
delivery of such Form 10-Q if it shall have timely made such Form 10-Q available on “EDGAR”
and on its home page on the worldwide web (at the date of this Agreement located at:
http//www.chsinc.com) and shall have given each holder of Notes prior notice of such
availability on EDGAR and on its home page in connection with each delivery (such
availability and notice thereof being referred to as “Electronic Delivery”);

(b) Annual Statements — within 90 days (or such shorter period as is 15 days
greater than the period applicable to the filing of the Company’s Annual Report on Form 10-K
(the “Form 10-K”) with the SEC regardless of whether the Company is subject to the filing
requirements thereof) after the end of each fiscal year of the Company, duplicate copies of,

(i) consolidated and consolidating balance sheets of the Company and its
Subsidiaries, as at the end of such year, and

(ii) consolidated and consolidating statements of income and cash flows and a
consolidated statement of members’ equity of the Company and its Subsidiaries, for
such year,

setting forth in each case, in comparative form, the figures for the previous fiscal year,
all in reasonable detail, prepared in accordance with GAAP, and accompanied by an opinion
thereon of independent certified public accountants of recognized national standing, which
opinion shall state that such financial statements present fairly, in all material respects,
the financial position of the companies being reported upon and their results of operations
and cash flows and have been prepared in conformity with GAAP, and that the examination of
such accountants in connection with such financial statements has been made in accordance
with generally accepted auditing standards, and that such audit provides a reasonable basis
for such opinion in the circumstances; provided that the delivery within the time period
specified above of the Company’s Form 10-K for such fiscal year (together with the Company’s
annual report to members, if any, prepared pursuant to Rule 14a-3 under the Exchange Act)
prepared in accordance with the requirements therefor and filed with the SEC shall be deemed
to satisfy the requirements of this Section 7.1(b), provided, further, that the Company
shall be deemed to have made such delivery of such Form 10-K if it shall have timely made
Electronic Delivery thereof;

(c) SEC and Other Reports — promptly upon their becoming available, one copy
of (i) each financial statement, report, notice or proxy statement sent by the Company or
any Subsidiary to its public Securities holders generally, and (ii) each regular or periodic
report, each registration statement (without exhibits except as expressly requested by such
holder), and each prospectus and all amendments thereto filed by the Company or any
Subsidiary with the SEC and of all press releases and other statements made available
generally by the Company or any Subsidiary to the public concerning developments that are
Material;

(d) Notice of Default or Event of Default — promptly, and in any event within
five days after a Responsible Officer becoming aware of the existence of any Default or
Event of Default or that any Person has given any notice or taken any action with respect to
a claimed default hereunder or that any Person has given any notice or taken any action with
respect to a claimed default of the type referred to in Section 11(f), a written notice
specifying the nature and period of existence thereof and what action the Company is taking
or proposes to take with respect thereto;

(e) ERISA Matters — promptly, and in any event within five days after a
Responsible Officer becoming aware of any of the following, a written notice setting forth
the nature thereof and the action, if any, that the Company or an ERISA Affiliate proposes
to take with respect thereto:

(i) with respect to any Plan, any reportable event, as defined in section
4043(b) of ERISA and the regulations thereunder, for which notice thereof has not
been waived pursuant to such regulations as in effect on the date hereof; or

(ii) the taking by the PBGC of steps to institute, or the threatening by the
PBGC of the institution of, proceedings under section 4042 of ERISA for the
termination of, or the appointment of a trustee to administer, any Plan, or the
receipt by the Company or any ERISA Affiliate of a notice from a Multiemployer Plan
that such action has been taken by the PBGC with respect to such Multiemployer Plan;
or

(iii) any event, transaction or condition that could result in the incurrence
of any liability by the Company or any ERISA Affiliate pursuant to Title I or IV of
ERISA or the penalty or excise tax provisions of the Code relating to employee
benefit plans, or in the imposition of any Lien on any of the rights, properties or
assets of the Company or any ERISA Affiliate pursuant to Title I or IV of ERISA or
such penalty or excise tax provisions, if such liability or Lien, taken together
with any other such liabilities or Liens then existing, could reasonably be expected
to have a Material Adverse Effect;

(f) Notices from Governmental Authority — promptly, and in any event within 30
days of receipt thereof, copies of any notice to the Company or any Subsidiary from any
Governmental Authority relating to any order, ruling, statute or other law or regulation
that could reasonably be expected to have a Material Adverse Effect; and

(g) Requested Information — with reasonable promptness, such other data and
information relating to the business, operations, affairs, financial condition, assets or
properties of the Company or any of its Subsidiaries or relating to the ability of the
Company to perform its obligations hereunder and under the Notes as from time to time may be
reasonably requested by any such holder of Notes; and

(h) Information Required by Rule 144A – with reasonable promptness, upon the
request of any such holder, such financial and other information as such holder may
reasonably determine to be necessary in order to permit compliance with the information
requirements of Rule 144A under the Securities Act in connection with the resale of Notes,
except at such times as the Company is subject to and in compliance with the reporting
requirements of section 13 or 15(d) of the Exchange Act.

7.2 Officer’s Certificate.

Each set of financial statements delivered to a holder of Notes pursuant to Section 7.1(a) or
Section 7.1(b) hereof shall be accompanied by a certificate of a Senior Financial Officer setting
forth (which, in the case of Electronic Delivery of any such financial statements, shall be by
separate concurrent delivery of such certificate to each holder of Notes):

(a) Covenant Compliance — the information (including detailed calculations)
required in order to establish whether the Company was in compliance with the requirements
of Sections 10.3 through and including 10.5, Section 10.7 hereof, inclusive, and each
Incorporated Provision, if applicable, during the quarterly or annual period covered by the
statements then being furnished (including with respect to each such Section, where
applicable, the calculations of the maximum or minimum amount, ratio or percentage, as the
case may be, permissible under the terms of such Sections, and the calculation of the
amount, ratio or percentage then in existence); and

(b) Event of Default — a statement that such officer has reviewed the relevant
terms hereof and has made, or caused to be made, under his or her supervision, a review of
the transactions and conditions of the Company and its Subsidiaries from the beginning of
the quarterly or annual period covered by the statements then being furnished to the date of
the certificate and that such review shall not have disclosed the existence during such
period of any condition or event that constitutes a Default or an Event of Default or, if
any such condition or event existed or exists (including, without limitation, any such event
or condition resulting from the failure of the Company or any Subsidiary to comply with any
Environmental Law), specifying the nature and period of existence thereof and what action
the Company shall have taken or proposes to take with respect thereto.

7.3 Inspection.

The Company shall permit the representatives of each holder of Notes that is an Institutional
Investor:

(a) No Default — if no Default or Event of Default then exists, at the expense
of such holder and upon reasonable prior notice to the Company, to visit the principal
executive office of the Company or any Subsidiary, to discuss the affairs, finances and
accounts of the Company and its Subsidiaries with the Company’s officers, and (with the
consent of the Company, which consent will not be unreasonably withheld) its independent
public accountants, and (with the consent of the Company, which consent will not be
unreasonably withheld) to visit the other offices and properties of the Company and each
Subsidiary, all at such reasonable times and as often as may be reasonably requested in
writing; and

(b) Default — if a Default or Event of Default then exists, at the expense of
the Company to visit and inspect any of the offices or properties of the Company or any
Subsidiary, to examine all their respective books of account, records, reports and other
papers, to make copies and extracts therefrom, and to discuss their respective affairs,
finances and accounts with their respective officers and independent public accountants (and
by this provision the Company authorizes said accountants to discuss the affairs, finances
and accounts of the Company and its Subsidiaries), all at such times and as often as may be
requested.

8. INTEREST; PAYMENT OF THE NOTES.

8.1 Interest Payments.

Interest on the 2011 Notes shall accrue on the unpaid principal balance of the 2011 Notes at
the rates and shall be computed on the basis as described in the applicable 2011 Note. Interest
shall be due and payable as provided in the 2011 Notes.

8.2 Offer to Pay Notes Upon Change in Control.

(a) Notice and Offer. The Company will not take any action that consummates or
finalizes a Change in Control unless at least thirty (30) days prior to such action it shall
have given to each holder of the Notes written notice of such impending Change in Control.
The Company will, within five (5) Business Days after any Responsible Officer has knowledge
of the occurrence of any Change in Control, give written notice of such Change in Control to
each holder of Notes in the manner set forth in Section 18. If a Change in Control has
occurred, such written notice shall contain, and shall constitute an irrevocable offer to
prepay all or (at such holder’s option) any portion of the Notes held by such holder on a
date specified in such notice (the “Proposed Prepayment Date”) that is not less than thirty
(30) days and not more than sixty (60) days after the date of such notice. If the Proposed
Prepayment Date shall not be specified in such notice, the Proposed Prepayment Date shall be
the 30th day after the date such notice shall have been sent by the Company. In no event
will the Company take any action to consummate or finalize a Change in Control unless the
Company has given the notice required by this Section 8.2(a) and, contemporaneously with
such action, the Company prepays all Notes required to be prepaid in accordance with Section
8.2(b) hereof.

(b) Acceptance and Payment. A holder of Notes may accept the offer to prepay
made pursuant to Section 8.2(a) by causing a notice of acceptance of such offered prepayment
(specifying in such notice the amount of Notes with respect to which such acceptance
applies) to be delivered to the Company prior to the Proposed Prepayment Date (it being
understood that the failure by a holder to respond to such written offer of prepayment prior
to the Proposed Prepayment Date shall be deemed to constitute a rejection of such offer with
respect to all Notes held by such holder). If so accepted, such offered prepayment shall be
due and payable on the Proposed Prepayment Date. Such offered prepayment shall be made at
100% of the principal amount of such Notes so prepaid, plus interest on all such Notes
accrued to the Proposed Prepayment Date. If the Company shall at any time receive an
acceptance of an offer to prepay Notes pursuant to this Section 8.2(b) from some, but not
all of, the holders of the Notes, then the Company will, within two (2) Business Days after
the receipt of such acceptance, give written notice of such acceptance to each other holder
of the Notes.

(c) Officer’s Certificate. Each offer to prepay the Notes pursuant to this
Section 8.2 shall be accompanied by a certificate, executed by a Responsible Officer of the
Company and dated the date of such offer, specifying:

(i) the Proposed Prepayment Date;

(ii) that such payment is to be made pursuant to the provisions of this Section
8.2;

(iii) the outstanding principal amount as of the Proposed Prepayment Date of
each Note offered to be prepaid;

(iv) the unpaid interest that would be due on each such Note offered to be
prepaid, accrued to the date fixed for payment;

(v) that the conditions of this Section 8.2 have been fulfilled; and

(vi) in reasonable detail, the nature and date or proposed date of the Change
in Control.

8.3 Optional Prepayments with Make-Whole Amount.

The Company may, at its option, upon notice as provided below, prepay at any time all, or from
time to time any part of, the Notes, in integral multiples of $1,000,000 and in a minimum amount of
$5,000,000, at 100% of the principal amount so prepaid, plus interest thereon to the prepayment
date and the Make-Whole Amount determined for the prepayment date with respect to such principal
amount. The Company will give each holder of Notes written notice of each optional prepayment
under this Section 8.3 not less than ten (10) Business Days and not more than sixty (60) days prior
to the date fixed for such prepayment. Each such notice shall specify such prepayment date (which
shall be a Business Day), the aggregate principal amount of the Notes to be prepaid on such date,
the principal amount of each Note held by such holder to be prepaid (determined in accordance with
Section 8.4), and the interest to be paid on the prepayment date with respect to such principal
amount being prepaid, and shall be accompanied by a certificate of a Senior Financial Officer as to
the estimated Make-Whole Amount due in connection with such prepayment (calculated as if the date
of such notice were the date of the prepayment), setting forth the details of such computation.
Two (2) Business Days prior to such prepayment, the Company shall deliver to each holder of Notes a
certificate of a Senior Financial Officer specifying the calculation of such Make-Whole Amount as
of the specified prepayment date.

8.4 Allocation of Partial Prepayments.

In the case of each partial prepayment of the Notes pursuant to Section 8.3, the principal
amount of the Notes to be prepaid shall be allocated among all of the Notes at the time outstanding
in proportion, as nearly as practicable, to the respective unpaid principal amounts thereof not
theretofore called for prepayment, without regard to the Series of Notes.

8.5 Maturity; Surrender, etc.

In the case of each prepayment of Notes pursuant to this Section 8, the principal amount of
each Note to be prepaid shall mature and become due and payable on the date fixed for such
prepayment, together with interest on such principal amount accrued to such date and, in the case
of any such prepayment pursuant to Section 8.3, the applicable Make-Whole Amount, if any. From and
after such date, unless the Company shall fail to pay such principal amount when so due and
payable, together with the interest and Make-Whole Amount, if any, as aforesaid, interest on such
principal amount shall cease to accrue. Any Note paid or prepaid in full shall be surrendered to
the Company and cancelled and shall not be reissued, and no Note shall be issued in lieu of any
prepaid principal amount of any Note.

8.6 Purchase of Notes.

The Company will not and will not permit any Affiliate to purchase, redeem, prepay or
otherwise acquire, directly or indirectly, any of the outstanding Notes except upon the payment or
prepayment of the Notes in accordance with the terms of this Agreement and the Notes or (b)
pursuant to a written offer to purchase made by the Company or an Affiliate pro rata to the holders
of the Notes outstanding upon the same terms and conditions. Any such offer shall provide each
holder with sufficient information to enable it to make an informed decision with respect to such
offer, and shall remain open for at least 15 Business Days. If the holders of more than 33?% of
the principal amount of the Notes then outstanding accept such offer, the Company shall promptly
notify the remaining holders of such fact and the expiration date for the acceptance by holders of
Notes of such offer shall be extended by the number of days necessary to give each such remaining
holder at least 10 Business Days from its receipt of such notice to accept such offer. The Company
will promptly cancel all Notes acquired by it or any Affiliate pursuant to any payment, prepayment
or purchase of Notes pursuant to any provision of this Agreement and no Notes may be issued in
substitution or exchange for any such Notes.

8.7 Make-Whole Amount.

The term “Make-Whole Amount” means, with respect to any Note of any Series, an amount equal to
the excess, if any, of the Discounted Value of the Remaining Scheduled Payments with respect to the
Called Principal of such Note of such Series over the amount of such Called Principal, provided
that the Make-Whole Amount may in no event be less than zero. For the purposes of determining the
Make-Whole Amount, the following terms have the following meanings:

“Called Principal” means, with respect to any Note of any Series, the principal of such
Note that is to be prepaid pursuant to Section 8.3, or has become or is declared to be
immediately due and payable pursuant to Section 12.1, as the context requires.

“Discounted Value” means, with respect to the Called Principal of any Note of any
Series, the amount obtained by discounting all Remaining Scheduled Payments with respect to
such Called Principal from their respective scheduled due dates to the Settlement Date with
respect to such Called Principal, in accordance with accepted financial practice and at a
discount factor (applied on the same periodic basis as that on which interest on such Series
of Notes is payable) equal to the Reinvestment Yield with respect to such Called Principal.

“Reinvestment Yield” means, with respect to the Called Principal of any Note of any
Series, 0.50% plus the yield to maturity calculated by using (i) the yields reported, as of
10:00 A.M. (New York City time) on the second Business Day preceding the Settlement Date on
screen “PX 1” on the Bloomberg Financial Market Service (or such other display on the
Bloomberg Financial Market Service as may be agreed upon by the Company and the Required
Holders having the same information if “PX-1” is replaced by Bloomberg Financial Market
Service) for the most recently issued, actively traded, on-the-run benchmark U.S. Treasury
securities, having a maturity equal to the Remaining Average Life of such Called Principal
as of such Settlement Date or (ii) if such yields are not reported as of such time or the
yields reported as of such time are not ascertainable, (including by way of interpolation),
the Treasury Constant Maturity Series Yields reported, for the latest day for which such
yields have been so reported as of the second Business Day preceding the Settlement Date, in
Federal Reserve Statistical Release H.15 (519) (or any comparable successor publication) for
the most recently issued actively traded on-the-run U.S. Treasury securities having a
constant maturity equal to the Remaining Average Life of such Called Principal as of such
Settlement Date. In either case, the yield will be determined using the applicable screen
or report as determined above, if necessary, by (a) converting U.S. Treasury bill quotations
to bond equivalent yields in accordance with accepted financial practice and (b)
interpolating linearly on a straight line basis between (1) the applicable most recently
issued actively traded on-the-run U.S. Treasury security with the maturity closest to and
greater than the Remaining Average Life and (2) the applicable most recently issued actively
traded on-the-run U.S. Treasury security with the maturity closest to and less than the
Remaining Average Life. The Reinvestment Yield shall be rounded to the number of decimal
places as appears in the interest rate of the applicable Series of Note.

“Remaining Average Life” means, with respect to any Called Principal of any Series of
Notes, the number of years obtained by dividing (a) such Called Principal into (b) the sum
of the products obtained by multiplying (i) the principal component of each Remaining
Scheduled Payment with respect to such Called Principal by (ii) the number of years that
will elapse between the Settlement Date with respect to such Called Principal and the
scheduled due date of such Remaining Scheduled Payment.

“Remaining Scheduled Payments” means, with respect to the Called Principal of any Note
of any Series, all payments of such Called Principal and interest thereon that would be due
after the Settlement Date with respect to such Called Principal if no payment of such Called
Principal were made prior to its scheduled due date, provided that if such Settlement Date
is not a date on which interest payments are due to be made under the terms of the Notes of
such Series, then the amount of the next succeeding scheduled interest payment will be
reduced by the amount of interest accrued to such Settlement Date and required to be paid on
such Settlement Date pursuant to Section 8.3 or 12.1.

“Settlement Date” means, with respect to the Called Principal of any Note of any
Series, the date on which such Called Principal is to be prepaid pursuant to Section 8.3, or
has become or is declared to be immediately due and payable pursuant to Section 12.1, as the
context requires.

9. AFFIRMATIVE COVENANTS.

	 	 	 	 	 
	The Company covenants that so long as any of the Notes are outstanding:
	 	9.1	 	 	Compliance with Laws.

The Company will and will cause each of its Subsidiaries to comply with all laws, ordinances
or governmental rules or regulations to which each of them is subject, including, without
limitation, ERISA, Environmental Laws, the USA PATRIOT Act and the other laws and regulations that
are referred to in Section 5.17, and will obtain and maintain in effect all licenses, certificates,
permits, franchises and other governmental authorizations necessary to the ownership of their
respective properties or to the conduct of their respective businesses, in each case to the extent
necessary to ensure that non-compliance with such laws, ordinances or governmental rules or
regulations or failures to obtain or maintain in effect such licenses, certificates, permits,
franchises and other governmental authorizations could not, individually or in the aggregate,
reasonably be expected to have a Material Adverse Effect.

9.2 Insurance.

The Company will and will cause each of its Subsidiaries to maintain, with financially sound
and reputable insurers, insurance with respect to their respective properties and businesses
against such casualties and contingencies, of such types, on such terms and in such amounts
(including deductibles, co-insurance and self-insurance, if adequate reserves are maintained with
respect thereto) as is customary in the case of entities of established reputations engaged in the
same or a similar business and similarly situated; provided, however, the Company may, to the
extent permitted by law, provide for appropriate self-insurance with respect to workers’
compensation.

9.3 Maintenance of Properties.

The Company will and will cause each of its Subsidiaries to maintain and keep, or cause to be
maintained and kept, their respective properties in good repair, working order and condition (other
than ordinary wear and tear), so that the business carried on in connection therewith may be
properly conducted at all times, provided that this Section shall not prevent the Company or any
Subsidiary from discontinuing the operation and the maintenance of any of its properties if such
discontinuance is desirable in the conduct of its business and the Company has concluded that such
discontinuance could not, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect.

9.4 Payment of Taxes and Claims.

The Company will and will cause each of its Subsidiaries to file all tax returns required to
be filed in any jurisdiction and to pay and discharge all taxes shown to be due and payable on such
returns and all other taxes, assessments, governmental charges, or levies imposed on them or any of
their properties, assets, income or franchises, and to pay and discharge all amounts payable for
work, labor and materials, in each case to the extent such taxes, assessments, charges, levies and
amounts have become due and payable and before they have become delinquent and all claims for which
sums have become due and payable that have or might become a Lien on properties or assets of the
Company or any Subsidiary, provided that neither the Company nor any Subsidiary need pay any such
tax, assessment, charge, levy or amount payable if (a) the amount, applicability or validity
thereof is being actively contested by the Company or such Subsidiary on a timely basis in good
faith and in appropriate proceedings, and the Company or a Subsidiary has established adequate
reserves therefor in accordance with GAAP on the books of the Company or such Subsidiary or (b) the
nonpayment of all such taxes, assessments, charges, levies and amounts payable in the aggregate
could not reasonably be expected to have a Material Adverse Effect.

9.5 Corporate Existence, etc.

Subject to Section 10.2, the Company will at all times preserve and keep in full force and
effect its corporate existence and will at all times preserve and keep in full force and effect the
corporate existence of each of its Subsidiaries, except to the extent that, with respect to
Subsidiaries, in the good faith judgment of the Company, the failure to do so could not reasonably
be expected to, individually or in the aggregate, have a Material Adverse Effect. The Company will
at all times preserve and keep in full force and effect all certificates of convenience and
necessity, rights and franchises, licenses, permits, operating rights and other authorization from
any Governmental Authorities as are necessary for the ownership, operation and maintenance of its
and its Subsidiaries’ respective businesses and properties, unless the termination of or failure to
preserve and keep in full force and effect such right, certificate or franchise, license, permit,
operating right or other authorization would not reasonably be expected, individually or in the
aggregate, to have a Material Adverse Effect.

9.6 Pari Passu.

The Company covenants that all Debt owing under the Notes and under this Agreement will rank
at least pari passu with all its other present and future unsecured Senior Debt.

10. NEGATIVE COVENANTS.

	 	 	 	 	 
	The Company covenants that so long as any of the Notes are outstanding:
	 	10.1	 	 	Transactions with Affiliates.

The Company will not, and will not permit any Subsidiary to, enter into directly or indirectly
any transaction or Material group of related transactions (including, without limitation, the
purchase, lease, sale or exchange of properties of any kind or the rendering of any service) with
any Affiliate, except in the ordinary course and pursuant to the reasonable requirements of the
Company’s or such Subsidiary’s business and upon fair and reasonable terms no less favorable to the
Company or such Subsidiary than would be obtainable in a comparable arm’s-length transaction with a
Person not an Affiliate.

10.2 Merger, Consolidation, etc.

The Company will not, and will not permit any Subsidiary to, directly or indirectly,
consolidate with, or merge into, any other Person or permit any other Person to consolidate with,
or merge into, it, or convey, transfer or lease all or substantially all of its assets in a single
transaction or series of transactions to any Person, except that:

(a) any Subsidiary may consolidate with, or merge into, the Company or any Wholly-Owned
Subsidiary if the Company or such Wholly-Owned Subsidiary is the surviving corporation; and

(b) the Company may consolidate with, or merge into, any other Person, or permit any
other Person to consolidate with, or merge into, it, if

(i) the successor formed by such consolidation or the survivor of such merger
(the “Surviving Corporation”), is a solvent corporation organized under the laws of
the United States of America or any State thereof (including the District of
Columbia),

(ii) if the Company is not the Surviving Corporation, (A) the Surviving
Corporation shall have executed and delivered to each holder of the Notes its
written assumption of the due and punctual performance and payment of each covenant
and condition of the Company in this Agreement and the Notes, which assumption shall
be in form and substance approved in writing by the Required Holders, and (B) the
Company shall have caused to be delivered to each holder of the Notes an opinion of
nationally recognized independent counsel, or other independent counsel reasonably
satisfactory to the Required Holders, to the effect that all agreements or
instruments effecting such assumption are enforceable in accordance with their terms
and comply with the terms hereof, and

(iii) immediately after giving effect to such transaction,

(A) no Default or Event of Default shall exist, and

(B) the Surviving Corporation and its Subsidiaries are permitted to
incur at least $1.00 of additional Priority Debt under the provisions of
Section 10.5, and

(c) CoFina may transfer CoFina Loan Assets to a Wholly-Owned Subsidiary in the ordinary
course of business.

No such conveyance, transfer or lease of substantially all of the assets of the Company shall have
the effect of releasing the Company or any successor corporation or limited liability company that
shall theretofore have become such in the manner prescribed in this Section 10.2 from its liability
under this Agreement or the Notes.

10.3 Consolidated Funded Debt to Consolidated Cash Flow.

The Company will not permit the ratio of (a) Consolidated Funded Debt to (b) Consolidated Cash
Flow determined as of the end of the four fiscal quarter period then most recently ended, to exceed
3.00 to 1.00 at any time.

10.4 Adjusted Consolidated Funded Debt to Consolidated Members’ and Patrons’ Equity.

The Company shall not permit the ratio of Adjusted Consolidated Funded Debt to Consolidated
Members’ and Patrons’ Equity to exceed .80 to 1.00 at any time.

10.5 Priority Debt.

(a) The Company covenants that it will not, and will not permit any of its Subsidiaries
to, directly or indirectly, create, issue, incur or assume any Priority Debt if after giving
effect thereto the aggregate outstanding principal amount of all Priority Debt would exceed
20% of Consolidated Net Worth at the time of such creation, issuance, incurrence or
assumption.

(b) The Company will not at any time permit any Subsidiary to guaranty, become a
co-borrower or otherwise become obligated in respect of any Debt owing under any Primary
Bank Facility unless contemporaneously such Subsidiary guaranties, or becomes similarly
obligated in respect of, the Notes, in each case pursuant to documentation in form and
substance reasonably satisfactory to the Required Holders.

10.6 Liens.

The Company will not, and will not permit any of its Subsidiaries to, directly or indirectly
create, incur, assume or suffer to be created, incurred or assumed or to exist (upon the happening
of a contingency or otherwise), any Lien on or with respect to any property of the Company or any
such Subsidiary, whether now owned or held or hereafter acquired (unless provision is made whereby
the Notes will be equally and ratably secured with any and all other obligations thereby secured as
provided in the last paragraph of this Section 10.6), except:

(a) Liens for taxes, assessments or other governmental charges or levies securing
obligations not overdue, or if overdue, being actively contested in good faith by
appropriate proceedings that will prevent the forfeiture or sale of any property, provided
that adequate reserves are established in accordance on the books of the Company or a
Subsidiary of the Company in accordance with GAAP;

(b) attachment, judgment and other similar Liens arising in connection with court
proceedings, provided the execution or other enforcement of such Lien(s) is effectively
stayed and the claims secured thereby are being actively contested in good faith in such
manner that the property subject to such Lien(s) is not subject to forfeiture or sale, and
further provided that adequate reserves are established on the books of the Company or a
Subsidiary of the Company in accordance with GAAP;

(c) Liens incidental to the normal conduct of the business of the Company or a
Subsidiary of the Company or to the ownership by the Company or a Subsidiary of its property
which were not incurred in connection with the borrowing of money or the obtaining of credit
or advances and which do not in the aggregate materially detract from the value of the
property of the Company or any Subsidiary of the Company for the purpose of such business or
materially impair the use thereof in the operation of the business of the Company or any
Subsidiary of the Company, including, without limitation, Liens

(i) in connection with workers’ compensation, unemployment insurance, social
security and other like laws,

(ii) to secure (or to obtain letters of credit that secure) the performance of
tenders, statutory obligations, surety and performance bonds (of a type other than
set forth in Section 10.6(b)), bids, leases (other than Capital Leases), purchase,
construction or sales contracts and other similar obligations, in each case not
incurred or made in connection with the borrowing of money, the obtaining of
advances or credit or the payment of the deferred purchase price of property,

(iii) to secure the claims or demands of materialmen, mechanics, carriers,
warehousemen, vendors, repairmen, landlords, lessors and other like Persons, arising
in the ordinary course of business, and

(iv) in the nature of reservations, exceptions, encroachments, easements,
rights-of-way, covenants, conditions, restrictions, leases and other similar title
exceptions or encumbrances affecting real property;

provided that any amounts secured by such Liens are not yet due and payable.

(d) Liens existing as of the date of this Agreement securing Debt and set forth on
Schedule 5.16 hereto;

(e) any Lien renewing, extending or refunding any Lien permitted by clause (d) of this
Section 10.6, provided that (i) the principal amount of the Debt secured by such Lien
immediately prior to such extension, renewal or refunding is not increased or the maturity
thereof reduced, (ii) such Lien is not extended to any other property, and (iii) immediately
after such extension, renewal or refunding no Default or Event of Default would exist;

(f) Liens on property of the Company or any of its Subsidiaries securing Debt owing to
the Company or to any of its Wholly-Owned Subsidiaries;

(g) any Lien created to secure all or any part of the purchase price or cost of
construction, or to secure Debt incurred or assumed to pay all or a part of the purchase
price or cost of construction, of any property (or any improvement thereon) acquired or
constructed by the Company or a Subsidiary of the Company after the date of the Closing,
provided that

(i) no such Lien shall extend to or cover any property other than the property
(or improvement thereon) being acquired or constructed or rights relating solely to
such item or items of property (or improvement thereon),

(ii) the principal amount of Debt secured by any such Lien shall at no time
exceed an amount equal to the lesser of (A) the cost to the Company or such
Subsidiary of the property (or improvement thereon) being acquired or constructed or
(B) the Fair Market Value (as determined in good faith by the Company) of such
property, determined at the time of such acquisition or at the time of substantial
completion of such construction, and

(iii) such Lien shall be created contemporaneously with, or within 180 days
after, the acquisition or completion of construction of such property (or
improvement thereon);

(h) any Lien existing on property acquired by the Company or any Subsidiary of the
Company at the time such property is so acquired (whether or not the Debt secured thereby is
assumed by the Company or such Subsidiary) or any Lien existing on property of a Person
immediately prior to the time such Person is merged into or consolidated with the Company or
any Subsidiary of the Company, provided that

(i) no such Lien shall have been created or assumed in contemplation of such
acquisition of property or such consolidation or merger,

(ii) such Lien shall extend only to the property acquired or the property of
such Person merged into or consolidated with the Company or Subsidiary which was
subject to such Lien as of the time of such consolidation or merger, and

(iii) the principal amount of the Debt secured by any such Lien shall at no
time exceed an amount equal to 100% of the Fair Market Value (as determined in good
faith by the board of directors of the Company or such Subsidiary) of the property
subject thereto at the time of the acquisition thereof or at the time of such merger
or consolidation;

(i) Liens to CoBank and other cooperatives with respect to equity held by the Company
in such banks or other cooperatives securing Debt, provided that the aggregate Fair Market
Value of such equity securing Debt shall not exceed $50,000,000 at any one time;

(j) Liens consisting of the cash collateralization of reimbursement obligations in an
aggregate amount not to exceed $200,000,000 in respect of letters of credit required to be
pledged because the expiry date of such letters of credit occurs later than the maturity
date of the lending facility under which such letters of credit were issued, but only to the
extent and for so long as no Default or Event of Default has occurred and is continuing and
no “potential default” or “event of default” has occurred and is continuing under and as
defined in such lending facility; and

(k) other Liens not otherwise permitted under clause (a) through (j) of this Section
10.6 securing Debt, provided that the existence, creation, issuance, incurrence or
assumption of such Debt is permitted under Sections 10.3, 10.4 and 10.5 hereof.

If, notwithstanding the prohibition contained herein, the Company shall, or shall permit any of its
Subsidiaries to, directly or indirectly create, incur, assume or permit to exist any Lien, other
than those Liens permitted by the provisions of paragraphs (a) through (k) of this Section 10.6
(but including any Liens in respect of the Primary Bank Facility whether or not permitted by
paragraphs (a) – (k) of this Section 10.6 (but excluding clause (j)), it will make or cause to be
made effective provision whereby the Notes will be secured equally and ratably with any and all
other obligations thereby secured, such security to be pursuant to agreements reasonably
satisfactory to the Required Holders (including intercreditor arrangements providing for the pari
passu treatment of the Notes and all such secured Debt) and, in any such case, the Notes shall have
the benefit, to the fullest extent that, and with such priority as, the holders of the Notes may be
entitled under applicable law, of an equitable Lien on such property. For the avoidance of doubt,
the Company acknowledges that it will not, and will not permit any Subsidiary to, secure or grant
any Liens in respect of the Primary Bank Facility (other than Liens permitted by paragraph (j) of
this Section 10.6) unless an equal and ratable Lien is granted in respect of the Notes.

10.7 Sale of Assets.

(a) Sale of Assets. The Company will not, and will not permit any of its
Subsidiaries to, make any Transfer, provided that the foregoing restriction does not apply
to a Transfer if:

(i) the property that is the subject of such Transfer constitutes either (A)
inventory held for sale, or (B) equipment, fixtures, supplies or materials no longer
required, in the opinion of the Company or such Subsidiary, in the operation of the
business of the Company or such Subsidiary or that is obsolete, and, in the case of
any Transfer described in clause (A) or clause (B), such Transfer is in the ordinary
course of business (an “Ordinary Course Transfer”);

(ii) such Transfer is from a Subsidiary to the Company or a Wholly-Owned
Subsidiary, so long as immediately before and immediately after the consummation of
such transaction, and after giving effect thereto, no Default or Event of Default
exists or would exist (each such Transfer, collectively with any Ordinary Course
Transfers, “Excluded Transfers”); or

(iii) such Transfer is a lease of the assets of the Company or any Subsidiary
of the Company to any joint venture entity, of which the Company or any Subsidiary
of the Company holds an ownership interest and shares in the earnings; provided that
the terms of any such lease and the division of the joint venture’s earnings, when
viewed as a whole, can be reasonably expected to generate the same or greater book
earnings and cash flow for the Company or Subsidiary of the Company as would be
generated absent such lease.

(b) Debt Prepayment Applications and Reinvested Transfers.

(i) Notwithstanding the provisions of Section 10.7(a), the Company or any
Subsidiary may Transfer any of its properties at the Fair Market Value thereof;
provided that

(A) either (1) such Transfer is not an Excluded Transfer and does not
involve a Substantial Portion of the property of the Company and its
Subsidiaries, or, (2) the Net Proceeds Amount with respect to such Transfer
(the “Designated Portion”) is either (x) applied to the acquisition by the
Company or the Subsidiary making such Transfer of assets of a nature similar
to, and of at least an equivalent value of, the assets which were the
subject of such Transfer (a “Reinvested Transfer”), or (y) applied to a Debt
Prepayment Application, in either case, within one year of the consummation
of such Transfer, as specified in an Officer’s Certificate delivered to each
holder of Notes prior to, or contemporaneously with, the consummation of
such Transfer; and

(B) immediately after giving effect to such Transfer (1) no Default or
Event of Default shall exist and (2) the Company is able to incur at least
$1.00 of additional Priority Debt under the provisions of Section 10.5
hereof.

(ii) If, notwithstanding the certificate referred to in the foregoing clause
10.7(b)(i)(A), the Company shall fail to apply the entire amount of the Designated
Portion as specified in such certificate within the period stated in Section
10.7(b)(i), an Event of Default shall be deemed to have existed as of the expiration
of such period and shall be deemed to be continuing.

(c) Certain Definitions. The following terms have the following meanings:

(i) “Debt Prepayment Application” means, with respect to any Transfer by the
Company or any Subsidiary, the application by the Company or such Subsidiary of cash
in an amount equal to the Net Proceeds Amount with respect to such Transfer to pay
the outstanding principal of all Funded Debt of the Company or such Subsidiary
(other than Funded Debt owing to any of the Subsidiaries or any Affiliate and Funded
Debt in respect of any revolving credit or similar facility providing the Company or
such Subsidiary with the right to obtain loans or other extensions of credit from
time to time, except to the extent that in connection with such payment of Funded
Debt, the availability of loans or other extensions of credit under such credit
facility is permanently reduced by an amount not less than the amount of such
proceeds applied to the payment of such Funded Debt), provided that in the course of
making such application the Company shall offer to prepay each outstanding Note in a
principal amount that equals the Ratable Portion for such Note plus interest on all
such Notes accrued to the date of such payment. The Company will give each holder
of Notes written notice of such offered prepayment not less than ten (10) Business
Days and not more than sixty (60) days prior to the date fixed for such prepayment,
specifying such prepayment date, the aggregate principal amount of the Notes to be
prepaid on such date and the Ratable Portion payable with respect to each such Note.
A holder of Notes may accept or reject such offer to prepay by causing a notice of
such acceptance or rejection to be delivered to the Company at least two (2)
Business Days prior to the prepayment date specified by the Company in such offer.
If a holder of Notes has not responded to such offer by a date which is at least two
(2) Business Days prior to such specified prepayment date, such holder shall be
deemed to have rejected such offer of prepayment. If any holder of a Note rejects
or is deemed to have rejected such offer of prepayment, then, for purposes of
determining the extent to which any Net Proceeds Amount has been applied to a Debt
Prepayment Application, the Company nevertheless will be deemed to have paid Funded
Debt in an amount equal to the Ratable Portion for such Note.

As used in this definition,

(i) “Ratable Portion” means, for any Note, an amount equal to the product of

(a) the Net Proceeds Amount (or any portion thereof) being so offered
to be applied to the payment of Funded Debt, multiplied by

(b) a fraction the numerator of which is the outstanding principal
amount of such Note and the denominator of which is the aggregate
outstanding principal amount of Funded Debt of the Company and its
Subsidiaries, after eliminating all offsetting debits and credits between
the Company and its Subsidiaries and all other items required to be
eliminated in the course of the preparation of consolidated financial
statements of the Company and its Subsidiaries in accordance with GAAP.

(ii) “Disposition Value” means, at any time, with respect to any Transfer,

(a) in the case of property that does not constitute capital stock of
or other ownership interests in any Subsidiary of the Company, the book
value thereof, valued at the time of such Transfer in good faith by the
board of directors of the Company, and

(b) in the case of property that constitutes capital stock of or other
ownership interests in any Subsidiary of the Company, an amount equal to
that percentage of the book value of the assets of the Subsidiary that
issued such capital stock or other ownership interests as is equal to the
percentage that the book value that such capital stock or other ownership
interests represents of the book value of all of the outstanding capital
stock of or other ownership interests in such Subsidiary (assuming, in
making such calculations, that all securities convertible into such capital
stock or other ownership interests are so converted and giving full effect
to all transactions that would occur or be required in connection with such
conversion), determined as of time of such Transfer in good faith by the
board of directors of the Company.

(iii) “Net Proceeds Amount” means, with respect to any Transfer of any property
by any Person, an amount equal to the difference of

(a) the aggregate amount of the consideration (valued at the Fair
Market Value of such consideration at the time of the consummation of such
Transfer) received by such Person in respect of such Transfer, minus

(b) all ordinary and reasonable out-of-pocket costs and expenses
actually incurred by such Person in connection with such Transfer and any
income taxes fairly attributable to such Transfer.

(iv) “Substantial Portion” means, at any time, any property subject to a
Transfer if the Disposition Value of such property, when added to the Disposition
Value of all other property of the Company and its Subsidiaries that shall have been
the subject of a Transfer (other than an Excluded Transfer and Transfers of such
other property to the extent the Net Proceeds Amount arising therefrom has been
applied to a Reinvested Transfer or a Debt Prepayment Application) during the then
current fiscal year of the Company, exceeds an amount equal to 25% of Consolidated
Total Assets as of the end of the fiscal year of the Company then most recently
ended.

(v) “Transfer” means, with respect to any Person, any transaction in which such
Person sells, conveys, transfers or leases (as lessor) any of its property,
including, without limitation, capital stock of or other ownership interests in, any
other Person.

10.8 Line of Business.

The Company will not, and will not permit any Subsidiary to, engage to any Material extent in
any business activity or operations other than operations or activities (a) in or reasonably
related to the agriculture industry, (b) in the food industry or (c) in which the Company and its
Subsidiaries are otherwise engaged on the date hereof as described in the Memorandum or businesses
reasonably related thereto or in furtherance thereof.

10.9 Subsidiary Distribution Restrictions.

The Company covenants that it will not, and will not permit any Subsidiary (other than NCRA)
of the Company to, enter into, or be otherwise subject to, any contract or agreement (including its
certificate of incorporation) which limits the amount of, or otherwise imposes restrictions on the
payment of, Distributions by any Subsidiary of the Company.

	 	 	 
	10.10

10.11

10.12
	 	[Intentionally Omitted.]

[Intentionally Omitted.]

Terrorism Sanctions Regulations.

The Company will not and will not permit any Affiliated Entity to (a) become a Blocked Person
or (b) have any investments in or engage in any dealings or transactions with any Blocked Person.

11. EVENTS OF DEFAULT.

An “Event of Default” shall exist if any of the following conditions or events shall occur and
be continuing:

(a) the Company defaults in the payment of any principal or Make-Whole Amount, if any,
on any Note when the same becomes due and payable, whether at maturity or at a date fixed
for prepayment or by declaration or otherwise; or

(b) the Company defaults in the payment of any interest on any Note for more than five
(5) Business Days after the same becomes due and payable; or

(c) the Company defaults in the performance of or compliance with any term contained in
any of Section 7.1(d), Section 8.2 (other than any payment default occurring under Sections
11(a) and/or 11(b)), Section 10 (other than Section 10.8) hereof or any Incorporated
Provision; or

(d) the Company defaults in the performance of or compliance with any term contained
herein (other than those referred to in clauses (a), (b) and (c) of this Section 11) and
such default is not remedied within 30 days after the earlier of (i) a Responsible Officer
obtaining actual knowledge of such default and (ii) the Company receiving written notice of
such default from any holder of a Note (any such written notice to be identified as a
“notice of default” and to refer specifically to this clause (d) of Section 11); or

(e) any representation or warranty made in writing by or on behalf of the Company or by
any officer of the Company in this Agreement or in any writing furnished in connection with
the transactions contemplated hereby proves to have been false or incorrect in any material
respect on the date as of which made; or

(f) (i) the Company or any Subsidiary is in default (as principal or as guarantor or
other surety) in the payment of any principal of or premium or make-whole amount or interest
on any Debt that is outstanding in an aggregate principal amount of at least $25,000,000
beyond any period of grace provided with respect thereto, or (ii) the Company or any
Subsidiary is in default in the performance of or compliance with any agreement, term or
condition contained in any instrument or agreement evidencing any Debt in an aggregate
outstanding principal amount of at least $25,000,000 or of any mortgage, indenture or other
agreement relating thereto or any other condition exists, and as a consequence of such
default or condition such Debt has become, or has been declared (or one or more Persons are
entitled to declare such Debt to be) due and payable before its stated maturity or before
its regularly scheduled dates of payment, or (iii) as a consequence of the occurrence or
continuation of any event or condition (other than the passage of time or the right of the
holder of Debt to convert such Debt into equity interests), (x) the Company or any
Subsidiary has become obligated to purchase or repay Debt before its regular maturity or
before its regularly scheduled dates of payment in an aggregate outstanding principal amount
of at least $25,000,000, or (y) one or more Persons have the right to require the Company or
any Subsidiary so to purchase or repay such Debt; or

(g) the Company or any Subsidiary (i) is generally not paying, or admits in writing its
inability to pay, its debts as they become due, (ii) files, or consents by answer or
otherwise to the filing against it of, a petition for relief or reorganization or
arrangement or any other petition in bankruptcy, for liquidation or to take advantage of any
bankruptcy, insolvency, reorganization, moratorium or other similar law of any jurisdiction,
(iii) makes an assignment for the benefit of its creditors, (iv) consents to the appointment
of a custodian, receiver, trustee or other officer with similar powers with respect to it or
with respect to any substantial part of its property, (v) is adjudicated as insolvent or to
be liquidated, or (vi) takes corporate action for the purpose of any of the foregoing; or

(h) a court or Governmental Authority of competent jurisdiction enters an order
appointing, without consent by the Company or any of its Subsidiaries, a custodian,
receiver, trustee or other officer with similar powers with respect to it or with respect to
any substantial part of its property, or constituting an order for relief or approving a
petition for relief or reorganization or any other petition in bankruptcy or for liquidation
or to take advantage of any bankruptcy or insolvency law of any jurisdiction, or ordering
the dissolution, winding-up or liquidation of the Company or any of its Subsidiaries, or any
such petition shall be filed against the Company or any of its Subsidiaries and such
petition shall not be dismissed within 60 days; or

(i) a final judgment or judgments for the payment of money aggregating in excess of
$25,000,000 are rendered against one or more of the Company and its Subsidiaries and which
judgments are not, within 30 days after entry thereof, bonded, discharged or stayed pending
appeal, or are not discharged within 30 days after the expiration of such stay; or

(j) if (i) any Plan shall fail to satisfy the minimum funding standards of ERISA or the
Code for any plan year or part thereof or a waiver of such standards or extension of any
amortization period is sought or granted under section 436 of the Code, (ii) a notice of
intent to terminate any Plan shall have been or is reasonably expected to be filed with the
PBGC or the PBGC shall have instituted proceedings under ERISA section 4042 to terminate or
appoint a trustee to administer any Plan or the PBGC shall have notified the Company or any
ERISA Affiliate that a Plan may become a subject of any such proceedings, (iii) the
aggregate “amount of unfunded benefit liabilities” (within the meaning of section
4001(a)(18) of ERISA) under all Plans, determined in accordance with Title IV of ERISA,
shall exceed five percent (5%) of Consolidated Net Worth for any period of ten (10)
consecutive calendar days or more, (iv) the Company or any ERISA Affiliate shall have
incurred or is reasonably expected to incur any liability pursuant to Title I or IV of ERISA
or the penalty or excise tax provisions of the Code relating to employee benefit plans, (v)
the Company or any ERISA Affiliate withdraws from any Multiemployer Plan, or (vi) the
Company or any Subsidiary establishes or amends any employee welfare benefit plan that
provides post-employment welfare benefits in a manner that would increase the liability of
the Company or any Subsidiary thereunder; and any such event or events described in clauses
(i) through (vi) above, either individually or together with any other such event or events,
could reasonably be expected to have a Material Adverse Effect. As used in this Section
11(j), the terms “employee benefit plan” and “employee welfare benefit plan” shall have the
respective meanings assigned to such terms in section 3 of ERISA.

12. REMEDIES ON DEFAULT, ETC.

12.1 Acceleration.

(a) If an Event of Default with respect to the Company described in clause (g) or (h)
of Section 11 (other than an Event of Default described in subclause (i) of clause (g) or
described in subclause (vi) of clause (g) by virtue of the fact that such clause encompasses
subclause (i) of clause (g)) has occurred, all the Notes then outstanding shall
automatically become immediately due and payable.

(b) If any other Event of Default has occurred and is continuing, the Required Holders
may at any time at its or their option, by notice or notices to the Company, declare all the
Notes then outstanding to be immediately due and payable.

(c) If any Event of Default described in clause (a) or (b) of Section 11 has occurred
and is continuing, any holder or holders of Notes at the time outstanding affected by such
Event of Default may at any time, at its or their option, by notice or notices to the
Company, declare all the Notes held by it or them to be immediately due and payable.

Upon any Notes becoming due and payable under this Section 12.1, whether automatically or by
declaration, such Notes will forthwith mature and the entire unpaid principal amount of such Notes,
plus (i) all accrued and unpaid interest thereon (including, but not limited to, interest accrued
thereon at the Default Rate) and (ii) the Make-Whole Amount determined in respect of such principal
amount (to the full extent permitted by applicable law), shall all be immediately due and payable,
in each and every case without presentment, demand, protest or further notice, all of which are
hereby waived. The Company acknowledges, and the parties hereto agree, that each holder of a Note
has the right to maintain its investment in the Notes free from repayment by the Company (except as
herein specifically provided for) and that the provision for payment of a Make-Whole Amount by the
Company in the event that the Notes are prepaid or are accelerated as a result of an Event of
Default, is intended to provide compensation for the deprivation of such right under such
circumstances.

12.2 Other Remedies.

If any Default or Event of Default has occurred and is continuing, and irrespective of whether
any Notes have become or have been declared immediately due and payable under Section 12.1, the
holder of any Note at the time outstanding may proceed to protect and enforce the rights of such
holder by an action at law, suit in equity or other appropriate proceeding, whether for the
specific performance of any agreement contained herein or in any Note, or for an injunction against
a violation of any of the terms hereof or thereof, or in aid of the exercise of any power granted
hereby or thereby or by law or otherwise.

12.3 Rescission.

At any time after any Notes have been declared due and payable pursuant to clause (b) or (c)
of Section 12.1, the Required Holders may, by written notice to the Company, rescind and annul any
such declaration and its consequences if (a) the Company has paid all overdue interest on the
Notes, all principal of and Make-Whole Amount, if any, on any Notes that are due and payable and
are unpaid other than by reason of such declaration, and all interest on such overdue principal and
Make-Whole Amount, if any, and (to the extent permitted by applicable law) any overdue interest in
respect of the Notes of any Series, at the Default Rate for such Series, (b) all Events of Default
and Defaults, other than non-payment of amounts that have become due solely by reason of such
declaration, have been cured or have been waived pursuant to Section 17, and (c) no judgment or
decree has been entered for the payment of any monies due pursuant hereto or to the Notes. No
rescission and annulment under this Section 12.3 will extend to or affect any subsequent Event of
Default or Default or impair any right consequent thereon.

12.4 No Waivers or Election of Remedies, Expenses, etc.

No course of dealing and no delay on the part of any holder of any Note in exercising any
right, power or remedy shall operate as a waiver thereof or otherwise prejudice such holder’s
rights, powers or remedies. No right, power or remedy conferred by this Agreement or any Note upon
any holder of any Note shall be exclusive of any other right, power or remedy referred to herein or
therein or now or hereafter available at law, in equity, by statute or otherwise. Without limiting
the obligations of the Company under Section 15, the Company will pay to the holder of each Note on
demand such further amount as shall be sufficient to cover all costs and expenses of such holder
incurred in any enforcement or collection under this Section 12, including, without limitation,
reasonable attorneys’ fees, expenses and disbursements.

13. REGISTRATION; EXCHANGE; SUBSTITUTION OF NOTES.

13.1 Registration of Notes.

The Company shall keep at its principal executive office a register for the registration and
registration of transfers of Notes. The name and address of each holder of one or more Notes, each
transfer thereof and the name and address of each transferee of one or more Notes shall be
registered in such register. Prior to due presentment for registration of transfer, the Person in
whose name any Note shall be registered shall be deemed and treated as the owner and holder thereof
for all purposes hereof, and the Company shall not be affected by any notice or knowledge to the
contrary. The Company shall give to any holder of a Note that is an Institutional Investor
promptly upon request therefor, a complete and correct copy of the names and addresses of all
registered holders of Notes.

13.2 Transfer and Exchange of Notes.

Upon surrender of any Note at the principal executive office of the Company for registration
of transfer or exchange (and in the case of a surrender for registration of transfer, duly endorsed
or accompanied by a written instrument of transfer duly executed by the registered holder of such
Note or its attorney duly authorized in writing and accompanied by the address for notices of each
transferee of such Note or part thereof), the Company shall execute and deliver, at the Company’s
expense (except as provided below), one or more new Notes of such Series (as requested by the
holder thereof) in exchange therefor, in an aggregate principal amount equal to the unpaid
principal amount of the surrendered Note. Each such new Note shall be payable to such Person as
such holder may request and shall be substantially in the form of such Note for such Series as set
forth in Exhibit 1.1(a), 1.1(b), 1.1(c) or 1.1(d), as applicable.
Each such new Note shall be dated and bear interest from the date to which interest shall have been
paid on the surrendered Note or dated the date of the surrendered Note if no interest shall have
been paid thereon. The Company may require payment of a sum sufficient to cover any stamp tax or
governmental charge imposed in respect of any such transfer of Notes. Notes shall not be
transferred in denominations of less than $500,000, provided that if necessary to enable the
registration of transfer by a holder of its entire holding of Notes, one Note may be in a
denomination of less than $500,000. Any transferee, by its acceptance of a Note registered in its
name (or the name of its nominee), shall be deemed to have made the representation set forth in
Section 6.2.

13.3 Replacement of Notes.

Upon receipt by the Company of evidence reasonably satisfactory to it of the ownership of and
the loss, theft, destruction or mutilation of any Note (which evidence shall be, in the case of an
Institutional Investor, notice from such Institutional Investor of such ownership and such loss,
theft, destruction or mutilation), and

(a) in the case of loss, theft or destruction, of indemnity reasonably satisfactory to
it (provided that if the holder of such Note is, or is a nominee for, an original Purchaser
or a Qualified Institutional Buyer, such Person’s own unsecured agreement of indemnity shall
be deemed to be satisfactory), or

(b) in the case of mutilation, upon surrender and cancellation thereof,

the Company at its own expense shall execute and deliver, in lieu thereof, a new Note of the same
Series, dated and bearing interest from the date to which interest shall have been paid on such
lost, stolen, destroyed or mutilated Note or dated the date of such lost, stolen, destroyed or
mutilated Note if no interest shall have been paid thereon.

14. PAYMENTS ON NOTES.

14.1 Place of Payment.

Subject to Section 14.2, payments of principal, Make-Whole Amount, if any, and interest
becoming due and payable on the Notes shall be made in New York, New York at the principal office
of Wells Fargo Bank, National Association in such jurisdiction. The Company may at any time, by
notice to each holder of a Note, change the place of payment of the Notes so long as such place of
payment shall be either the principal office of the Company in such jurisdiction or the principal
office of a bank or trust company in such jurisdiction.

14.2 Home Office Payment.

So long as any Purchaser or its nominee shall be the holder of any Note, and notwithstanding
anything contained in Section 14.1 or in such Note to the contrary, the Company will pay all sums
becoming due on such Note for principal, Make-Whole Amount, if any, and interest by the method and
at the address specified for such purpose below such Purchaser’s name in Schedule A, or by
such other method or at such other address as such Purchaser shall have from time to time specified
to the Company in writing for such purpose, without the presentation or surrender of such Note or
the making of any notation thereon, except that upon written request of the Company made
concurrently with or reasonably promptly after payment or prepayment in full of any Note, such
Purchaser shall surrender such Note for cancellation, reasonably promptly after any such request,
to the Company at its principal executive office or at the place of payment most recently
designated by the Company pursuant to Section 14.1. Prior to any sale or other disposition of any
Note held by a Purchaser or its nominee such Purchaser will, at its election, either endorse
thereon the amount of principal paid thereon and the last date to which interest has been paid
thereon or surrender such Note to the Company in exchange for a new Note or Notes pursuant to
Section 13.2. The Company will afford the benefits of this Section 14.2 to any Qualified
Institutional Buyer or Institutional Investor that is the direct or indirect transferee of any Note
purchased by a Purchaser under this Agreement and that has made the same agreement relating to such
Note as the Purchasers have made in this Section 14.2.

15. EXPENSES, ETC.

15.1 Transaction Expenses.

Whether or not the transactions contemplated hereby are consummated, the Company will pay all
costs and expenses (including reasonable attorneys’ fees of a special counsel and, if reasonably
required, local or other counsel) incurred by the Purchasers and each other holder of a Note in
connection with such transactions and in connection with any amendments, waivers or consents under
or in respect of this Agreement or the Notes (whether or not such amendment, waiver or consent
becomes effective), including, without limitation: (a) the costs and expenses incurred in enforcing
or defending (or determining whether or how to enforce or defend) any rights under this Agreement
or the Notes or in responding to any subpoena or other legal process or informal investigative
demand issued in connection with this Agreement or the Notes, or by reason of being a holder of any
Note, and (b) the costs and expenses, including financial advisors’ fees, incurred in connection
with the insolvency or bankruptcy of the Company or any Subsidiary or in connection with any
work-out or restructuring of the transactions contemplated hereby and by the Notes. The Company
will pay, and will save each Purchaser and each other holder of a Note harmless from, all claims in
respect of any fees, costs or expenses if any, of brokers and finders (other than those, if any,
retained by a Purchaser or other holder in connection with its purchase of the Notes).

15.2 Survival.

The obligations of the Company under this Section 15 will survive the payment or transfer of
any Note, the enforcement, amendment or waiver of any provision of this Agreement or the Notes, and
the termination of this Agreement.

16. SURVIVAL OF REPRESENTATIONS AND WARRANTIES; ENTIRE AGREEMENT.

All representations and warranties contained herein shall survive the execution and delivery
of this Agreement and the Notes, the purchase or transfer by any Purchaser of any Note or portion
thereof or interest therein and the payment of any Note, and may be relied upon by any subsequent
holder of a Note, regardless of any investigation made at any time by or on behalf of such
Purchaser or any other holder of a Note. All statements contained in any certificate or other
instrument delivered by or on behalf of the Company pursuant to this Agreement shall be deemed
representations and warranties of the Company under this Agreement. Subject to the preceding
sentence, this Agreement and the Notes embody the entire agreement and understanding between each
Purchaser and the Company and supersede all prior agreements and understandings relating to the
subject matter hereof.

17. AMENDMENT AND WAIVER.

17.1 Requirements.

This Agreement, the Notes and any Supplement may be amended, and the observance of any term
hereof or of the Notes may be waived (either retroactively or prospectively), with (and only with)
the written consent of the Company and the Required Holders, except that (a) no amendment or waiver
of any of the provisions of Section 1, 2, 3, 4, 5, 6 or 21 hereof (or any similar provision in any
Supplement), or any defined term (as it is used therein), will be effective as to any Purchaser
unless consented to by such Purchaser in writing, and (b) no such amendment or waiver may, without
the written consent of the holder of each Note at the time outstanding affected thereby, (i)
subject to the provisions of Section 12 relating to acceleration or rescission, change the amount
or time of any prepayment or payment of principal of, or reduce the rate or change the time of
payment or method of computation of interest or of the Make-Whole Amount on, the Notes, (ii) change
the percentage of the principal amount of the Notes the holders of which are required to consent to
any such amendment or waiver, or (iii) amend any of Sections 8, 11(a), 11(b), 12, 17 or 20 (or any
similar provision in any Supplement).

17.2 Solicitation of Holders of Notes.

(a) Solicitation.  The Company will provide each holder of the Notes
(irrespective of the amount of Notes then owned by it) with sufficient information,
sufficiently far in advance of the date a decision is required, to enable such holder to
make an informed and considered decision with respect to any proposed amendment, waiver or
consent in respect of any of the provisions hereof or of the Notes. The Company will
deliver executed or true and correct copies of each amendment, waiver or consent effected
pursuant to the provisions of this Section 17 to each holder of outstanding Notes promptly
following the date on which it is executed and delivered by, or receives the consent or
approval of, the requisite holders of Notes.

(b) Payment.  The Company will not directly or indirectly pay or cause to be
paid any remuneration, whether by way of supplemental or additional interest, fee or
otherwise, or grant any security or provide other credit support, to any holder of Notes as
consideration for or as an inducement to the entering into by any holder of Notes of any
waiver or amendment of any of the terms and provisions hereof or of any Note unless such
remuneration is concurrently paid, or security is concurrently granted or other credit
support is concurrently provided, on the same terms, ratably to each holder of Notes then
outstanding even if such holder did not consent to such waiver or amendment.

(c) Consent in Contemplation of Transfer. Any consent made pursuant to this
Section 17.2 by the holder of any Note that has transferred or has agreed to transfer such
Note to the Company, any Subsidiary or any Affiliate of the Company and has provided or has
agreed to provide such written consent as a condition to such transfer shall be void and of
no force or effect except solely as to such holder, and any amendments effected or waivers
granted or to be effected or granted that would not have been or would not be so effected or
granted but for such consent (and the consents of all other holders of Notes that were
acquired under the same or similar conditions) shall be void and of no force or effect
except solely as to such transferring holder.

17.3 Binding Effect, etc.

Any amendment or waiver consented to as provided in this Section 17 applies equally to all
holders of Notes and is binding upon them and upon each future holder of any Note and upon the
Company without regard to whether such Note has been marked to indicate such amendment or waiver.
No such amendment or waiver will extend to or affect any obligation, covenant, agreement, Default
or Event of Default not expressly amended or waived or impair any right consequent thereon. No
course of dealing between the Company and the holder of any Note nor any delay in exercising any
rights hereunder or under any Note shall operate as a waiver of any rights of any holder of such
Note. As used herein, the term “this Agreement” and references thereto shall mean this Agreement
as it may from time to time be amended or supplemented.

17.4 Notes held by Company, etc.

Solely for the purpose of determining whether the holders of the requisite percentage of the
aggregate principal amount of Notes then outstanding approved or consented to any amendment, waiver
or consent to be given under this Agreement or the Notes, or have directed the taking of any action
provided herein or in the Notes to be taken upon the direction of the holders of a specified
percentage of the aggregate principal amount of Notes then outstanding, Notes directly or
indirectly owned by the Company or any of its Affiliates shall be deemed not to be outstanding.

18. NOTICES.

All notices and communications provided for hereunder shall be in writing and sent (a) by
telecopy if the sender on the same day sends a confirming copy of such notice by a recognized
overnight delivery service (charges prepaid), or (b) by registered or certified mail with return
receipt requested (postage prepaid), or (c) by a recognized overnight delivery service (with
charges prepaid). Any such notice must be sent:

(i) if to any Purchaser or its nominee, to such Purchaser or nominee at
the address specified for such communications in Schedule A, or at such
other address as such Purchaser or nominee shall have specified to the Company in
writing,

(ii) if to any other holder of any Note, to such holder at such address
as such other holder shall have specified to the Company in writing, or

(iii) if to the Company, to the Company at its address set forth at the
beginning hereof to the attention of David A. Kastelic, Executive Vice President and
Chief Financial Officer, or at such other address as the Company shall have
specified to the holder of each Note in writing.

Notices under this Section 18 will be deemed given only when actually received.

19. REPRODUCTION OF DOCUMENTS.

This Agreement and all documents relating thereto, including, without limitation, (a)
consents, waivers and modifications that may hereafter be executed, (b) documents received by any
Purchaser at the Closing (except the Notes themselves), and (c) financial statements, certificates
and other information previously or hereafter furnished to any Purchaser, may be reproduced by such
Purchaser by any photographic, photostatic, microfilm, microcard, miniature photographic,
electronic or digital, or other similar process and such Purchaser may destroy any original
document so reproduced. The Company agrees and stipulates that, to the extent permitted by
applicable law, any such reproduction shall be admissible in evidence as the original itself in any
judicial or administrative proceeding (whether or not the original is in existence and whether or
not such reproduction was made by such Purchaser in the regular course of business) and any
enlargement, facsimile or further reproduction of such reproduction shall likewise be admissible in
evidence. This Section 19 shall not prohibit the Company or any other holder of Notes from
contesting any such reproduction to the same extent that it could contest the original, or from
introducing evidence to demonstrate the inaccuracy of any such reproduction.

20. CONFIDENTIAL INFORMATION.

For the purposes of this Section 20, “Confidential Information” means information delivered to
any Purchaser by or on behalf of the Company or any Subsidiary in connection with the transactions
contemplated by or otherwise pursuant to this Agreement that is proprietary in nature and that was
clearly marked or labeled or otherwise adequately identified when received by such Purchaser as
being confidential information of the Company or such Subsidiary, provided that such term does not
include information that (a) was publicly known or otherwise known to such Purchaser prior to the
time of such disclosure, (b) subsequently becomes publicly known through no act or omission by such
Purchaser or any Person acting on such Purchaser’s behalf, (c) otherwise becomes known to such
Purchaser other than through disclosure by the Company or any Subsidiary or (d) constitutes
financial statements delivered to such Purchaser under Section 7.1 that are otherwise publicly
available. Each Purchaser will maintain the confidentiality of such Confidential Information in
accordance with procedures adopted by such Purchaser in good faith to protect confidential
information of third parties delivered to such Purchaser, provided that such Purchaser may deliver
or disclose Confidential Information to (i) its directors, officers, employees, agents, attorneys,
trustees and affiliates (to the extent such disclosure reasonably relates to the administration of
the investment represented by its Notes), (ii) its financial advisors and other professional
advisors who agree to hold confidential the Confidential Information substantially in accordance
with the terms of this Section 20, (iii) any other holder of any Note, (iv) any Institutional
Investor to which it sells or offers to sell such Note or any part thereof or any participation
therein (if such Person has agreed in writing prior to its receipt of such Confidential Information
to be bound by the provisions of this Section 20), (v) any Person from which it offers to purchase
any security of the Company (if such Person has agreed in writing prior to its receipt of such
Confidential Information to be bound by the provisions of this Section 20), (vi) any Federal or
state regulatory authority having jurisdiction over such Purchaser, (vii) the NAIC or the SVO or,
in each case, any similar organization, or any nationally recognized rating agency that requires
access to information about such Purchaser’s investment portfolio or (viii) any other Person to
which such delivery or disclosure may be necessary or appropriate (w) to effect compliance with any
law, rule, regulation or order applicable to such Purchaser, (x) in response to any subpoena or
other legal process, (y) in connection with any litigation to which such Purchaser is a party or
(z) if an Event of Default has occurred and is continuing, to the extent such Purchaser may
reasonably determine such delivery and disclosure to be necessary or appropriate in the enforcement
or for the protection of the rights and remedies under such Purchaser’s Notes and this Agreement.
Each holder of a Note, by its acceptance of a Note, will be deemed to have agreed to be bound by
and to be entitled to the benefits of this Section 20 as though it were a party to this Agreement.
On reasonable request by the Company in connection with the delivery to any holder of a Note of
information required to be delivered to such holder under this Agreement or requested by such
holder (other than a holder that is a party to this Agreement or its nominee), such holder will
enter into an agreement with the Company embodying the provisions of this Section 20.

21. SUBSTITUTION OF PURCHASER.

Each Purchaser shall have the right to substitute any one of its Affiliates as the purchaser
of the Notes that it has agreed to purchase hereunder, by written notice to the Company, which
notice shall be signed by both such Purchaser and such Affiliate, shall contain such Affiliate’s
agreement to be bound by this Agreement and shall contain a confirmation by such Affiliate of the
accuracy with respect to it of the representations set forth in Section 6. Upon receipt of such
notice, any reference to such Purchaser in this Agreement (other than in this Section 21), shall be
deemed to refer to such Affiliate in lieu of such original Purchaser. In the event that such
Affiliate is so substituted as a Purchaser hereunder and such Affiliate thereafter transfers to
such original Purchaser all of the Notes then held by such Affiliate, upon receipt by the Company
of notice of such transfer, any reference to such Affiliate as a “Purchaser” in this Agreement
(other than in this Section 21), shall no longer be deemed to refer to such Affiliate, but shall
refer to such original Purchaser, and such original Purchaser shall again have all the rights of an
original holder of the Notes under this Agreement.

22. MISCELLANEOUS.

22.1 Successors and Assigns.

All covenants and other agreements contained in this Agreement by or on behalf of any of the
parties hereto bind and inure to the benefit of their respective successors and assigns (including,
without limitation, any subsequent holder of a Note) whether so expressed or not.

22.2 Payments Due on Non-Business Days.

Anything in this Agreement or the Notes to the contrary notwithstanding (but without limiting
the requirement in Sections 8.2 or 8.3 that the notice of any optional prepayment specify a
Business Day as the date fixed for such prepayment), any payment of principal of or Make-Whole
Amount or interest on any Note that is due on a date other than a Business Day shall be made on the
next succeeding Business Day without including the additional days elapsed in the computation of
the interest payable on such next succeeding Business Day; provided that if the maturity date of
any Notes is a date other than a Business Day, the payment otherwise due on such maturity date
shall be made on the next succeeding Business Day and shall include the additional days elapsed in
the computation of interest payable on such next succeeding Business Day.

22.3 Accounting Terms.

All accounting terms used herein which are not expressly defined in this Agreement have the
meanings respectively given to them in accordance with GAAP. Except as otherwise specifically
provided herein, (a) all computations made pursuant to this Agreement shall be made in accordance
with GAAP, and (b) all financial statements shall be prepared in accordance with GAAP. For
purposes of determining compliance with the financial covenants contained in this Agreement, any
election by the Company to measure an item of Debt using fair value (as permitted by FASB ASC
825-10-25 — Fair Value Option (formerly known as FASB 159) or any similar accounting standard)
shall be disregarded and such determination shall be made as if such election had not been made.

Notwithstanding the foregoing, if the Company notifies the holders of Notes that, in Company’s
reasonable opinion, or if the Required Holders notify the Company that, in the Required Holders’
reasonable opinion, as a result of a change in GAAP after the date hereof, any covenant contained
in Sections 10.2, 10.3, 10.4, 10.5, 10.6 or 10.7, or any of the defined terms used therein no
longer apply as intended such that such covenants are materially more or less restrictive to the
Company than as at the date of this Agreement, the Company shall negotiate in good faith with the
holders of Notes to make any necessary adjustments to such covenant or defined term to provide the
holders of the Notes with substantially the same protection as such covenant provided prior to the
relevant change in GAAP. Until the Company and the Required Holders so agree to reset, amend or
establish alternative covenants or defined terms, (a) the covenants contained in Sections 10.2,
10.3, 10.4, 10.5, 10.6 and 10.7, together with the relevant defined terms, shall continue to apply
and compliance therewith shall be determined on the basis of GAAP in effect at the date of this
Agreement and (b) each set of financial statements delivered to holders of Notes pursuant to
Section 7.1(a) or (b) during such time shall include detailed reconciliations reasonably
satisfactory to the Required Holders as to the effect of such change in GAAP.

22.4 Severability.

Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall,
as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability
without invalidating the remaining provisions hereof, and any such prohibition or unenforceability
in any jurisdiction shall (to the full extent permitted by law) not invalidate or render
unenforceable such provision in any other jurisdiction.

22.5 Construction.

Each covenant contained herein shall be construed (absent express provision to the contrary)
as being independent of each other covenant contained herein, so that compliance with any one
covenant shall not (absent such an express contrary provision) be deemed to excuse compliance with
any other covenant. Where any provision herein refers to action to be taken by any Person, or
which such Person is prohibited from taking, such provision shall be applicable whether such action
is taken directly or indirectly by such Person.

22.6 Counterparts.

This Agreement may be executed in any number of counterparts, each of which shall be an
original but all of which together shall constitute one instrument. Each counterpart may consist
of a number of copies hereof, each signed by less than all, but together signed by all, of the
parties hereto.

22.7 Governing Law.

This Agreement shall be construed and enforced in accordance with, and the rights of the
parties shall be governed by, the law of the State of New York excluding choice of law principles
of the law of such State that would permit the application of the laws of a jurisdiction other than
such State.

22.8 Jurisdiction and Process; Waiver of Jury Trial.

(a) The Company irrevocably submits to the non-exclusive jurisdiction of any New York
State or federal court sitting in the Borough of Manhattan, The City of New York, over any
suit, action or proceeding arising out of or relating to this Agreement or the Notes. To
the fullest extent permitted by applicable law, the Company irrevocably waives and agrees
not to assert, by way of motion, as a defense or otherwise, any claim that it is not subject
to the jurisdiction of any such court, any objection that it may now or hereafter have to
the laying of the venue of any such suit, action or proceeding brought in any such court and
any claim that any such suit, action or proceeding brought in any such court has been
brought in an inconvenient forum.

(b) The Company consents to process being served by or on behalf of any holder of Notes
in any suit, action or proceeding of the nature referred to in Section 22.8(a) by mailing a
copy thereof by registered or certified mail (or any substantially similar form of mail),
postage prepaid, return receipt requested, to it at its address specified in Section 18 or
at such other address of which such holder shall then have been notified pursuant to said
Section. The Company agrees that such service upon receipt (i) shall be deemed in every
respect effective service of process upon it in any such suit, action or proceeding and (ii)
shall, to the fullest extent permitted by applicable law, be taken and held to be valid
personal service upon and personal delivery to it. Notices hereunder shall be conclusively
presumed received as evidenced by a delivery receipt furnished by the United States Postal
Service or any reputable commercial delivery service.

(c) Nothing in this Section 22.8 shall affect the right of any holder of a Note to
serve process in any manner permitted by law, or limit any right that the holders of any of
the Notes may have to bring proceedings against the Company in the courts of any appropriate
jurisdiction or to enforce in any lawful manner a judgment obtained in one jurisdiction in
any other jurisdiction.

(d) The parties hereto hereby waive trial by jury in any action brought on or with
respect to this Agreement, the Notes or any other document executed in connection herewith
or therewith.

If you are in agreement with the foregoing, please sign the form of agreement on a counterpart
of this Agreement and return it to the Company, whereupon this Agreement shall become a binding
agreement between you and the Company.

Very truly yours,

CHS, INC.

	 	 	 
	By:
	 	/s/ David A. Kastelic

	Name: David A. Kastelic
	Title:
	 	Executive Vice President and

Chief Financial Officer

1

	 	 	This Agreement is hereby

Accepted and agreed to as

of the date hereof.

	 	 	 	 	 
	THE VARIABLE ANNUITY LIFE INSURANCE COMPANY	 	 
	By:	 	AIG Asset Management (U.S.) LLC, Investment Adviser

	 	 	By: /s/ William H. Hasson

Name:

Title:

	 	

William H. Hasson

Managing Director

2

	 	 	 	 	 
	 	 	NEW YORK LIFE INSURANCE COMPANY	 
	 	 	By: /s/ Christopher H. Carey	 
	 	 	Name:	 	 	Christopher H. Carey
	 	 	Title:	 	 	Vice President

	 	 	 	 	 
	NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION
	By:	 	New York Life Investment Management LLC,
	 	 	Its Investment Manager
	 	 	By: /s/ Christopher H. Carey
	 	 	Name: Christopher H. Carey
	 	 	Title: Managing Director

	 	 	 	 	 
	NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION INSTITUTIONALLY
	OWNED LIFE INSURANCE SEPARATE ACCOUNT (BOLI 30C)
	By:	 	New York Life Investment Management LLC,
	 	 	Its Investment Manager
	 	 	By: /s/ Christopher H. Carey
	 	 	Name: Christopher H. Carey
	 	 	Title: Managing Director
	NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION INSTITUTIONALLY OWNED LIFE INSURANCE SEPARATE
	ACCOUNT (BOLI 3-2)

	 	 	 	 	 
	By:	 	New York Life Investment Management LLC,

	 	 	Its Investment Manager

	 	

	 	 	By: /s/ Christopher H. Carey

	 	 	Name: Christopher H. Carey

	 	 	Title:

	 	Managing Director

3

THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY

	 	 	 
	By: /s/ Timothy S. Collins

	Name: Timothy S. Collins

	Title:

	 	Its Authorized Representative

THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY FOR ITS GROUP ANNUITY SEPARATE ACCOUNT

	 	 	 
	By: /s/ Timothy S. Collins

	Name: Timothy S. Collins

	Its:

	 	Authorized Representative

4

	 	 	 
	 	 	MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY	 
	 	 	By:	 	 	Babson Capital Management LLC
	 	 	 	 	 	as Investment Adviser
	 	 	 	 	 	By: /s/ Emeka O. Onukwugha
	 	 	 	 	 	Name: Emeka O. Onukwugha
	 	 	 	 	 	Title: Managing Director

	 	 	 
	 	 	C.M. LIFE INSURANCE COMPANY	 
	 	 	By:	 	 	Babson Capital Management LLC
	 	 	 	 	 	as Investment Adviser
	 	 	 	 	 	By: /s/ Emeka O. Onukwugha
	 	 	 	 	 	Name: Emeka O. Onukwugha
	 	 	 	 	 	Title: Managing Director

5

	 	 	 
	 	 	MASSMUTUAL ASIA LIMITED	 
	 	 	By:	 	 	Babson Capital Management LLC
	 	 	 	 	 	as Investment Adviser
	 	 	 	 	 	By: /s/ Emeka O. Onukwugha
	 	 	 	 	 	Name: Emeka O. Onukwugha
	 	 	 	 	 	Title: Managing Director

6

	 	 	 
	ING LIFE INSURANCE AND ANNUITY COMPANY
	ING USA ANNUITY AND LIFE INSURANCE COMPANY
	RELIASTAR LIFE INSURANCE COMPANY
	By:	 	ING Investment Management LLC, as Agent
	 	 	By: /s/ Paul Aronson
	 	 	Name: Paul Aronson
	 	 	Title: Senior Vice President

7

	 	 	 
	 	 	AVIVA LIFE AND ANNUITY COMPANY	 
	 	 	ROYAL NEIGHBORS OF AMERICA	 
	 	 	By:	 	 	Aviva Investors North America, Inc.,
	 	 	 	 	 	Its authorized attorney-in-fact
	 	 	 	 	 	By: /s/ Roger D. Fors
	 	 	 	 	 	Name: Roger D. Fors
	 	 	 	 	 	Title: VP-Private Fixed Income
	ALLIANZ LIFE INSURANCE COMPANY OF NORTH AMERICA

	 	 	 
	By: /s/ Axel Zehren

	Name:

Title:

	 	Axel Zehren

Chief Investment Officer

8

	 	 	 
	UNUM LIFE INSURANCE COMPANY OF AMERICA
	By:	 	Provident Investment Management, LLC, its Agent
	 	 	By: /s/ Ben Vance
	 	 	Name: Ben Vance
	 	 	Title: Managing Director

	 	 	 
	PROVIDENT LIFE AND ACCIDENT INSURANCE COMPANY
	By:	 	Provident Investment Management, LLC, its Agent
	 	 	By: /s/ Ben Vance
	 	 	Name: Ben Vance
	 	 	Title: Managing Director

9

	 	 	 
	PROVIDENT LIFE AND CASUALTY INSURANCE COMPANY
	By:	 	Provident Investment Management, LLC, its Agent
	 	 	By: /s/ Ben Vance
	 	 	Name: Ben Vance
	 	 	Title: Managing Director

	 	 	 
	 	 	HARTFORD LIFE INSURANCE COMPANY	 
	 	 	By:	 	 	Hartford Investment Management Company
	 	 	 	 	 	its Agent and Attorney-in-Fact
	 	 	 	 	 	By: /s/ Ralph Witt
	 	 	 	 	 	Name: Ralph Witt
	 	 	 	 	 	Title: Vice President

	 	 	 
	 	 	HARTFORD LIFE AND ANNUITY INSURANCE COMPANY	 
	 	 	By:	 	 	Hartford Investment Management Company
	 	 	 	 	 	its Agent and Attorney-in-Fact
	 	 	 	 	 	By: /s/ Ralph Witt
	 	 	 	 	 	Name: Ralph Witt
	 	 	 	 	 	Title: Vice President

10

	 	 	 
	 	 	PHYSICIANS LIFE INSURANCE COMPANY	 
	 	 	By:	 	 	Hartford Investment Management Company
	 	 	 	 	 	its Agent and Attorney-in-Fact
	 	 	 	 	 	By: /s/ Ralph Witt
	 	 	 	 	 	Name: Ralph Witt
	 	 	 	 	 	Title: Vice President
	USAA LIFE INSURANCE COMPANY

	 	 	 
	By: /s/ John Spear

	Name:

Title:

	 	John Spear

Vice President

CASUALTY INSURANCE COMPANY

	 	 	 
	By: /s/ John Spear

	Name:

Title:

	 	John Spear

Vice President

CATASTROPHE REINSURANCE COMPANY

	 	 	 
	By: /s/ John Spear

	Name:

Title:

	 	John Spear

Vice President

11

12

	 	 	 
	AMERICAN FIDELITY ASSURANCE COMPANY
	AMERICAN-AMICABLE LIFE INSURANCE COMPANY OF TEXAS
	VANTIS LIFE INSURANCE COMPANY
	OCCIDENTAL LIFE INSURANCE COMPANY OF NORTH CAROLINA
	AMERICAN REPUBLIC INSURANCE COMPANY
	TRUSTMARK INSURANCE COMPANY
	BLUE CROSS AND BLUE SHIELD OF FLORIDA, INC.
	GUIDEONE SPECIALTY MUTUAL INSURANCE COMPANY
	GUIDEONE PROPERTY & CASUALTY INSURANCE COMPANY
	CATHOLIC UNITED FINANCIAL
	INDUSTRIAL ALLIANCE PACIFIC INSURANCE AND FINANCIAL SERVICES, INC.
	MTL INSURANCE COMPANY
	FORT DEARBORN LIFE INSURANCE COMPANY
	NEW ERA LIFE INSURANCE
	By:	 	Advantus Capital Management, Inc.
	 	 	By: /s/ Robert G. Diedrich
	 	 	Name: Robert G. Diedrich
	 	 	Title: Vice President
	GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY

	 	 	 
	By: /s/ Eve Hampton

	Name:

Title:

	 	Eve Hamptom

VP, Investments

13

	 	 	 
	 	 	By: /s/ Paul Runnalls	 
	 	 	Name:	 	 	Paul Runnalls
	 	 	Title:	 	 	Manager, Investments
	PHOENIX LIFE INSURANCE COMPANY

	 	 	 
	By: /s/ John H. Beers

	Name:

Title:

	 	John H. Beers

Vice President

PHL VARIABLE INSURANCE COMPANY

	 	 	 
	By: /s/ John H. Beers

	Name:

Title:

	 	John H. Beers

Vice President

14

MODERN WOODMEN OF AMERICA

	 	 	 
	By: /s/ Michael E. Dau

	Name:

Title:

	 	Michael E. Dau

Treasurer & Investment Manager

15

THE PHOENIX INSURANCE COMPANY

	 	 	 
	By: /s/ Annette M. Masterson

	Name:

Title:

	 	Annette M. Masterson

Vice President

TRAVELERS CASUALTY AND SURETY COMPANY OF AMERICA

	 	 	 
	By: /s/ Annette M. Masterson

	Name:

Title:

	 	Annette M. Masterson

Vice President

16

LIFE INSURANCE COMPANY OF THE SOUTHWEST

	 	 	 
	By: /s/ R. Scott Higgins
	Name:

Title:
	 	R. Scott Vice President

Senior Vice President

Sentinel Asset Management

17

THE OHIO NATIONAL LIFE INSURANCE COMPANY

	 	 	 
	By: /s/ Jed R. Martin

	Name:

Title:

	 	Jed R. Martin

Vice President, Private Placements

MONTGOMERY RE, INC.

	 	 	 
	By: /s/ Jed R. Martin

	Name:

Title:

	 	Jed R. Martin

Authorized Signer

18

ASSURITY LIFE INSURANCE COMPANY

	 	 	 
	By: /s/ Victor Weber

	Name:

Title:

	 	Victor Weber

Senior Director — Investments

19

	 	 	 
	THE UNION CENTRAL LIFE INSURANCE COMPANY	 
	By:	 	Summit Investment Advisors, Inc., as Agent	 
	 	 	By: /s/ Andrew S. White	 
	 	 	Name: Andrew S. White	 
	 	 	Title:	 	 	Managing Director - Private Placements

	 	 	 
	AMERITAS LIFE INSURANCE CORP.
	By:	 	Summit Investment Advisors, Inc., as Agent
	 	 	By: /s/ Andrew S. White
	 	 	Name: Andrew S. White
	 	 	Title: Managing Director - Private Placements

	 	 	 
	ACACIA LIFE INSURANCE COMPANY
	By:	 	Summit Investment Advisors, Inc., as Agent
	 	 	By: /s/ Andrew S. White
	 	 	Name: Andrew S. White
	 	 	Title: Managing Director - Private Placements

	 	 	 
	AMERITAS LIFE INSURANCE CORP. – Closed Block	 
	By:	 	Summit Investment Advisors, Inc., as Agent	 
	 	 	By: /s/ Andrew S. White	 
	 	 	Name: Andrew S. White	 
	 	 	Title:	 	 	Managing Director - Private Placements
	SCHEDULE A	 	 	 
	 	 	 	 	 	INFORMATION AS TO PURCHASERS

	 	 	 
	Purchaser Name	 	THE VARIABLE ANNUITY LIFE INSURANCE COMPANY
	Name in which to register Note(s)
	 	THE VARIABLE ANNUITY LIFE INSURANCE COMPANY

	 
	 	 

	Note Registration Number(s);

Principal Amount(s)
	 	RM-1; $70,000,000

	 
	 	

	Payment on account of Note(s)

Method

Account information
	 	Federal Funds Wire Transfer

The Bank of New York Mellon

ABA #: 021-000-018

Account # GLA111566

For Credit to: Variable Annuity Life Insurance Co.; Account No.

260735

Ref. “Accompanying Information” below

	 
	 	 

	Accompanying information
	 	Name of Company: CHS INC.

Description of Security: 4.52% Series M Senior Notes due June

9, 2021

PPN: 12542R C@7

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices

related to payments
	 	The Variable Annuity Life Insurance Company (260735)

c/o AIG Asset Management

2929 Allen Parkway, A36-04

Houston, Texas 77019-2155

Attn: Private Placements — Portfolio Operations

Fax: (713) 831-1072

or

Email: AIGGIGPVTPLACEMENTOPERATIONS@aig.com

Duplicate payment notices to:

	 	 	The Variable Annuity Life Insurance Company (260735)

c/o The Bank of New York Mellon

Attn: P & I Department

Fax: (718) 315-3076

	 
	 	 

	Address / Fax # for all other

notices
	 	The Variable Annuity Life Insurance Company (260735)

c/o AIG Asset Management

2929 Allen Parkway, A36-04

Houston, Texas 77019-2155

Attn: Private Placements — Portfolio Operations

Fax: (713) 831-1072

or

Email: AIGGIGPVTPLACEMENTOPERATIONS@aig.com

With a copy of compliance reporting information to:

	 	 	 

	 	 	AIG Asset Management

2929 Allen Parkway, A36-04

Houston, Texas 77019-2155

Attn: Private Placements — Compliance

Email: Complianceprivateplacements@aig.com

	 
	 	 

	Instructions re Delivery of Notes
	 	The Bank of New York Mellon

One Wall Street – 3rd Floor Window — A

New York, N.Y. 10286

Attention: Sammy Yankanah, Phone: (212) 635-7077

Ref: Account Name: The Variable Annuity Life Insurance Company

Account Number: 260735

Cc: rose.dehoyos@aig.com and jon.heiny@aig.com.

Upon receipt of executed versions of the transmittal letter

from the custodian, please forward a copy of the same to

rachel.lewis@aig.com

	 
	 	 

	Signature Block
	 	THE VARIABLE ANNUITY LIFE INSURANCE COMPANY

By: AIG Asset Management (U.S.) LLC, Investment Adviser

By:     

Name:

	 	 	Title:

	 
	 	 

	Tax identification number
	 	74-1625348

	 
	 	 

	 	 	 
	Purchaser Name	 	NEW YORK LIFE INSURANCE COMPANY
	Name in which to register Note(s)	 	NEW YORK LIFE INSURANCE COMPANY
	Note Registration Number(s);	 	RL-1; $27,500,000
	Principal Amount(s)	 	 
	Payment on account of Note(s)	 	Federal Funds Wire Transfer
	Method	 	JPMorgan Chase Bank
	Account information	 	New York, New York
	 	 	ABA No.: 021-000-021
	 	 	Credit: New York Life Insurance Company
	 	 	General Account No.: 008-9-00687
	 	 	Ref: “Accompanying information” below
	Accompanying information	 	Name of Company: CHS INC.
	 	 	Description of Security: 4.08% Series L Senior Notes due June 9,
	 	 	2019
	 	 	PPN: 12542R C*9

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices

related to payments
	 	New York Life Insurance Company

c/o New York Life Investment Management LLC

51 Madison Avenue

2nd Floor, Room 208

New York, New York 10010-1603

Attention: Securities Operations, Private Group

Fax #: (908) 840-3385

With a copy sent via Email to: FIIGLibrary@nylim.com and

TraditionalPVtOps@nylim.com

	 
	 	 

	Address / Fax # for all other

notices
	 	New York Life Insurance Company

c/o New York Life Investment Management LLC

51 Madison Avenue

2nd Floor, Room 208

New York, New York 10010

Attention: Fixed Income Investors Group, Private Finance

Fax #: (212) 447-4122

With a copy sent via Email to: FIIGLibrary@nylim.com and

TraditionalPVtOps@nylim.com

with a copy of any notices regarding defaults or Events of Default

under the operative documents to:

	 	 	Attention: Office of General Counsel

Investment Section, Room 1016

Fax #: (212) 576-8340

	 
	 	 

	Instructions re Delivery of Notes
	 	New York Life Insurance Company

c/o New York Life Investment Management LLC

51 Madison Avenue

New York, New York 10010

Attn: Rebecca Strutton, Esq

	 
	 	 

	Signature Block
	 	NEW YORK LIFE INSURANCE COMPANY

By:     

Name:

	 	 	Title:

	 
	 	 

	Tax identification number
	 	13-5582869

	 
	 	 

	 	 	 
	Purchaser Name	 	NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION
	Name in which to register Note(s)	 	NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION
	Note Registration Number(s);	 	RL-2; $38,500,000
	Principal Amount(s)	 	 
	Payment on account of Note(s)	 	Federal Funds Wire Transfer
	Method	 	JPMorgan Chase Bank
	Account information	 	New York, New York
	 	 	ABA No.: 021-000-021
	 	 	Credit: New York Life Insurance and Annuity Corporation
	 	 	General Account No.: 323-8-47382
	 	 	Ref: “Accompanying information” below
	Accompanying information	 	Name of Company: CHS INC.
	 	 	Description of Security: 4.08% Series L Senior Notes due June 9,
	 	 	2019
	 	 	PPN: 12542R C*9

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices

related to payments
	 	New York Life Insurance and Annuity Corporation

c/o New York Life Investment Management LLC

51 Madison Avenue

2nd Floor, Room 208

New York, New York 10010-1603

Attention: Securities Operations, Private Group

Fax #: (908) 840-3385

With a copy sent via Email to: FIIGLibrary@nylim.com and

TraditionalPVtOps@nylim.com

	 
	 	 

	Address / Fax # for all other

notices
	 	New York Life Insurance and Annuity Corporation

c/o New York Life Investment Management LLC

51 Madison Avenue

2nd Floor, Room 208

New York, New York 10010

Attention: Fixed Income Investors Group, Private Finance

Fax #: (212) 447-4122

With a copy sent via Email to: FIIGLibrary@nylim.com and

TraditionalPVtOps@nylim.com

with a copy of any notices regarding defaults or Events of Default

under the operative documents to:

	 	 	Attention: Office of General Counsel

Investment Section, Room 1016

Fax #: (212) 576-8340

	 
	 	 

	Instructions re Delivery of Notes
	 	New York Life Insurance Company

c/o New York Life Investment Management LLC

51 Madison Avenue

New York, New York 10010

Attn: Rebecca Strutton, Esq

	 
	 	 

	Signature Block
	 	NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION

By: New York Life Investment Management LLC,

Its Investment Manager

By:     

Name:

	 	 	Title:

	 
	 	 

	Tax identification number
	 	13-3044743

	 
	 	 

	 	 	 
	Purchaser Name	 	NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION INSTITUTIONALLY
	 	 	OWNED LIFE INSURANCE SEPARATE ACCOUNT (BOLI 30C)
	Name in which to register Note(s)	 	NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION INSTITUTIONALLY
	 	 	OWNED LIFE INSURANCE SEPARATE ACCOUNT (BOLI 30C)
	Note Registration Number(s);	 	RL-3; $3,000,000
	Principal Amount(s)	 	 
	Payment on account of Note(s)	 	Federal Funds Wire Transfer
	Method	 	JPMorgan Chase Bank
	Account information	 	New York, New York
	 	 	ABA No.: 021-000-021
	 	 	Credit: NYLIAC Separate BOLI 30C
	 	 	General Account No.: 304-6-23970
	 	 	Ref: “Accompanying information” below
	Accompanying information	 	Name of Company: CHS INC.
	 	 	Description of Security: 4.08% Series L Senior Notes due June 9,
	 	 	2019
	 	 	PPN: 12542R C*9

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices

related to payments
	 	New York Life Insurance and Annuity Corporation Institutionally

Owned Life Insurance Separate Account

c/o New York Life Investment Management LLC

51 Madison Avenue, 2nd Floor, Room 208

New York, New York 10010-1603

Attention: Securities Operation Private Group

Fax #: (908) 840-3385

With a copy sent via Email to: FIIGLibrary@nylim.com and

TraditionalPVtOps@nylim.com

	 
	 	 

	Address / Fax # for all other

notices
	 	New York Life Insurance and Annuity Corporation Institutionally

Owned Life Insurance Separate Account

c/o New York Life Investment Management LLC

51 Madison Avenue, 2nd Floor, Room 208

New York, New York 10010-1603

Attention: Fixed Income Investor Group, Private Finance

Fax #: (212) 447-4122

With a copy sent via Email to: FIIGLibrary@nylim.com and

TraditionalPVtOps@nylim.com

with a copy of any notices regarding defaults or Events of Default

under the operative documents to:

	 	 	Attention: Office of General Counsel

Investment Section, Room 1016

Fax #: (212) 576-8340

	 
	 	 

	Instructions re Delivery of Notes
	 	New York Life Insurance Company

c/o New York Life Investment Management LLC

51 Madison Avenue

New York, New York 10010

Attn: Rebecca Strutton, Esq

	 
	 	 

	Signature Block
	 	NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION INSTITUTIONALLY

OWNED LIFE INSURANCE SEPARATE ACCOUNT (BOLI 30C)

By: New York Life Investment Management LLC,

Its Investment Manager

By:     

Name:

	 	 	Title:

	 
	 	 

	Tax identification number
	 	13-3044743

	 
	 	 

	 	 	 
	Purchaser Name	 	NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION INSTITUTIONALLY
	 	 	OWNED LIFE INSURANCE SEPARATE ACCOUNT (BOLI 3-2)
	Name in which to register Note(s)	 	NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION INSTITUTIONALLY
	 	 	OWNED LIFE INSURANCE SEPARATE ACCOUNT (BOLI 3-2)
	Note Registration Number(s);	 	RL-4; $1,000,000
	Principal Amount(s)	 	 
	Payment on account of Note(s)	 	Federal Funds Wire Transfer
	Method	 	JPMorgan Chase Bank
	Account information	 	New York, New York
	 	 	ABA No.: 021-000-021
	 	 	Credit: NYLIAC Separate BOLI 3-2
	 	 	General Account No.: 323-9-56793
	 	 	Ref: “Accompanying information” below
	Accompanying information	 	Name of Company: CHS INC.
	 	 	Description of Security: 4.08% Series L Senior Notes due June 9,
	 	 	2019
	 	 	PPN: 12542R C*9

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices

related to payments
	 	New York Life Insurance and Annuity Corporation Institutionally

Owned Life Insurance Separate Account

c/o New York Life Investment Management LLC

51 Madison Avenue, 2nd Floor, Room 208

New York, New York 10010-1603

Attention: Securities Operation Private Group

Fax #: (908) 840-3385

With a copy sent via Email to: FIIGLibrary@nylim.com and

TraditionalPVtOps@nylim.com

	 
	 	 

	Address / Fax # for all other

notices
	 	New York Life Insurance and Annuity Corporation Institutionally

Owned Life Insurance Separate Account

c/o New York Life Investment Management LLC

51 Madison Avenue, 2nd Floor, Room 208

New York, New York 10010-1603

Attention: Fixed Income Investor Group, Private Finance

Fax #: (212) 447-4122

With a copy sent via Email to: FIIGLibrary@nylim.com and

TraditionalPVtOps@nylim.com

with a copy of any notices regarding defaults or Events of Default

under the operative documents to:

	 	 	Attention: Office of General Counsel

Investment Section, Room 1016

Fax #: (212) 576-8340

	 
	 	 

	Instructions re Delivery of Notes
	 	New York Life Insurance Company

c/o New York Life Investment Management LLC

51 Madison Avenue

New York, New York 10010

Attn: Rebecca Strutton, Esq

	 
	 	 

	Signature Block
	 	NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION INSTITUTIONALLY

OWNED LIFE INSURANCE SEPARATE ACCOUNT (BOLI 3-2)

By: New York Life Investment Management LLC,

Its Investment Manager

By:     

Name:

	 	 	Title:

	 
	 	 

	Tax identification number
	 	13-3044743

	 
	 	 

20

	 	 	 
	Purchaser Name	 	THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY
	Name in which to register Note(s)
	 	THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY

	 
	 	 

	Note Registration Number(s);

Principal Amount(s)
	 	RM-2; $24,000,000

RN-1; $21,000,000

	 
	 	 

	Payment on account of Note(s)

Method

Account information
	 	Federal Funds Wire Transfer

US Bank

777 East Wisconsin Avenue

Milwaukee, WI 53202

ABA #075000022

For the account of: Northwestern Mutual Life

Account No. 182380324521

Ref: “Accompanying Information” below

	 
	 	 

	Accompanying information
	 	Name of Company: CHS INC.

Description of Security: 4.52% Series M

Senior Notes due June 9, 2021

PPN: 12542R C@7

Description of Security: 4.67% Series N

Senior Notes due June 9, 2023

PPN: 12542R C#5

Due date and application (as among principal,

interest and Make-Whole Amount) of the

payment being made:

	 
	 	 

	Address / Fax # for notices

related to payments
	 	The Northwestern Mutual Life Insurance Company

720 East Wisconsin Avenue

Milwaukee, WI 53202

Attention: Investment Operations

Email: privates@northwesternmutual.com

	 
	 	 

	Address / Fax # for all other

notices
	 	The Northwestern Mutual Life Insurance Company

720 East Wisconsin Avenue

Milwaukee, WI 53202

Attention: Securities Department

Email: privateinvest@northwesternmutual.com

	 
	 	 

	Instructions re Delivery of Notes
	 	The Northwestern Mutual Life Insurance Company

720 East Wisconsin Avenue

Milwaukee, WI 53202

Attention: Anne T. Brower, Law Department

	 
	 	 

	Signature Block
	 	THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY

By:      

Name:

	 	 	Title: Its Authorized Representative

	 
	 	 

	Tax identification number
	 	39-0509570

	 
	 	 

21

	 	 	 
	Purchaser Name	 	THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY
	 	 	FOR ITS GROUP ANNUITY SEPARATE ACCOUNT
	Name in which to register Note(s)
	 	THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY

FOR ITS GROUP ANNUITY SEPARATE ACCOUNT

	 
	 	 

	Note Registration Number(s);

Principal Amount(s)
	 	RM-3; $1,000,000

	 
	 	

	Payment on account of Note(s)

Method

Account information
	 	Federal Funds Wire Transfer

US Bank

777 East Wisconsin Avenue

Milwaukee, WI 53202

ABA #075000022

For the account of: Northwestern Mutual Life-GASA

Account No. 182380324018

Ref: “Accompanying Information” below

	 
	 	 

	Accompanying information
	 	Name of Company: CHS INC.

Description of Security: 4.52% Series M Senior

Notes due June 9, 2021

PPN: 12542R C@7

Due date and application (as among principal,

interest and Make-Whole Amount) of the payment

being made:

	 
	 	 

	Address / Fax # for notices

related to payments
	 	The Northwestern Mutual Life Insurance Company for

its Group Annuity Separate Account

720 East Wisconsin Avenue

Milwaukee, WI 53202

Attn: Investment Operations

Email: privates@northwesternmutual.com

	 
	 	 

	Address / Fax # for all other

notices
	 	The Northwestern Mutual Life Insurance Company for

its Group Annuity Separate Account

720 East Wisconsin Avenue

Milwaukee, WI 53202

Attn: Securities Department

Email: privateinvest@northwesternmutual.com

	 
	 	 

	Instructions re Delivery of Notes
	 	The Northwestern Mutual Life Insurance Company

720 East Wisconsin Avenue

Milwaukee, WI 53202

Attention: Anne T. Brower, Law Department

	 
	 	 

	Signature Block
	 	THE NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY

FOR ITS GROUP ANNUITY SEPARATE ACCOUNT

By:     

Name:

	 	 	Its: Authorized Representative

	 
	 	 

	Tax identification number
	 	39-0509570

	 
	 	 

22

	 	 	 
	Purchaser Name	 	MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY
	Name in which to register Note(s)
	 	MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY

	 
	 	 

	Note Registration Number(s);

Principal Amount(s)
	 	RM-4; $17,800,000

RN-2; $19,500,000

	 
	 	

	Payment on account of Note(s)

Method

Account information
	 	Federal Funds Wire Transfer

Citibank, N.A.

New York, NY

ABA No. 021000089

For MassMutual Co-Owned Account

Account No. 30510685

Ref: “Accompanying Information” below

	 
	 	 

	Accompanying information
	 	Name of Company: CHS INC.

Description of Security: 4.52% Series M Senior Notes

due June 9, 2021

PPN: 12542R C@7

Description of Security: 4.67% Series N Senior Notes

due June 9, 2023

PPN: 12542R C#5

Due date and application (as among principal, interest

and Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices

related to payments
	 	Massachusetts Mutual Life Insurance Company

c/o Babson Capital Management LLC

1500 Main Street, Suite 200

PO Box 15189

Springfield, MA 01115-5189

Attn: Securities Custody and Collection Department

With telephone advice of payment to the Securities

Custody and Collection Department of Babson Capital

Management LLC at (413) 226-1754 or (413) 226-1803.

	 
	 	 

	Address / Fax # for all other

notices
	 	Massachusetts Mutual Life Insurance Company

c/o Babson Capital Management LLC

1500 Main Street, Suite 2200

PO Box 15189

Springfield, MA 01115-5189

Attn: Securities Investment Division

	 
	 	 

	Instructions re Delivery of Notes
	 	Massachusetts Mutual Life Insurance Company

c/o Babson Capital Management LLC

1500 Main Street, Suite 2800

Springfield, MA 01115

Attn: Steven J. Katz, Esq.

	 
	 	 

	Signature Block
	 	MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY

By: Babson Capital Management LLC

as Investment Adviser

By:     

Name:

	 	 	Title:

	 
	 	 

	Tax identification number
	 	04-1590850

	 
	 	 

23

	 	 	 
	Purchaser Name	 	C.M. LIFE INSURANCE COMPANY
	Name in which to register Note(s)
	 	C.M. LIFE INSURANCE COMPANY

	 
	 	 

	Note Registration Number(s);

Principal Amount(s)
	 	RM-5; $1,500,000

RN-3; $1,700,000

	 
	 	

	Payment on account of Note(s)

Method

Account information
	 	Federal Funds Wire Transfer

Citibank, N.A.

New York, NY

ABA No. 021000089

For MassMutual Co-Owned Account

Account No. 30510685

Ref: “Accompanying Information” below

	 
	 	 

	Accompanying information
	 	Name of Company: CHS INC.

Description of Security: 4.52% Series M Senior Notes

due June 9, 2021

PPN: 12542R C@7

Description of Security: 4.67% Series N Senior Notes

due June 9, 2023

PPN: 12542R C#5

Due date and application (as among principal, interest

and Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices

related to payments
	 	C.M. Life Insurance Company

c/o Babson Capital Management LLC

1500 Main Street, Suite 200

PO Box 15189

Springfield, MA 01115-5189

Attn: Securities Custody and Collection Department

With telephone advice of payment to the Securities

Custody and Collection Department of Babson Capital

Management LLC at (413) 226-1754 or (413) 226-1803.

	 
	 	 

	Address / Fax # for all other

notices
	 	C.M. Life Insurance Company

c/o Babson Capital Management LLC

1500 Main Street, Suite 2200

PO Box 15189

Springfield, MA 01115-5189

Attn: Securities Investment Division

	 
	 	 

	Instructions re Delivery of Notes
	 	C.M. Life Insurance Company

c/o Babson Capital Management LLC

1500 Main Street, Suite 2800

Springfield, MA 01115

Attn: Steven J. Katz, Esq.

	 
	 	 

	Signature Block
	 	C.M. LIFE INSURANCE COMPANY

By: Babson Capital Management LLC

as Investment Adviser

By:     

Name:

	 	 	Title:

	 
	 	 

	Tax identification number
	 	06-1041383

	 
	 	 

24

	 	 	 
	Purchaser Name	 	MASSMUTUAL ASIA LIMITED
	Name in which to register Note(s)
	 	GERLACH & CO.

	 
	 	 

	Note Registration Number(s);

Principal Amount(s)
	 	RM-6; $700,000

RN-4; $800,000

	 
	 	

	Payment on account of Note(s)

Method

Account information
	 	Federal Funds Wire Transfer

Gerlach & Co.

c/o Citibank, N.A.

ABA Number 021000089

Concentration Account 36112805

Attn: Judy Rock

FFC: MassMutual Asia 849195

Ref: “Accompanying Information” below

	 
	 	 

	Accompanying information
	 	Name of Company: CHS INC.

Description of Security: 4.52% Series M Senior Notes

due June 9, 2021

PPN: 12542R C@7

Description of Security: 4.67% Series N Senior Notes

due June 9, 2023

PPN: 12542R C#5

Due date and application (as among principal, interest

and Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices

related to payments
	 	MassMutual Asia Limited

c/o Babson Capital Management LLC

1500 Main Street, Suite 200

Springfield, MA 01115

Attn: Securities Custody and Collection Department

With telephone advice of payment to the Securities

Custody and Collection Department of Babson Capital

Management LLC at (413) 226-1803 or (413) 226-1889.

	 
	 	 

	Address / Fax # for all other

notices
	 	MassMutual Asia Limited

c/o Babson Capital Management LLC

1500 Main Street

Springfield, MA 01115

Attn: Securities Investment Division

Send Corporate Action Notice to:

	 	 	Citigroup Global Securities Services

Attn: Corporate Action Dept

3800 Citibank Center Tampa

Building B Floor 3

Tampa, FL 33610-9122

	 
	 	 

	Instructions re Delivery of Notes
	 	Citibank NA

399 Park Avenue

Level B Vault

New York, NY 10022

Acct. #849195

	 
	 	 

	Signature Block
	 	MASSMUTUAL ASIA LIMITED

By: Babson Capital Management LLC

as Investment Adviser

By:     

Name:

	 	 	Title:

	 
	 	 

	Tax identification number
	 	N/A

	 
	 	 

25

	 	 	 
	Purchaser Name	 	AVIVA LIFE AND ANNUITY COMPANY
	Name in which to register Note(s)	 	HARE & CO.
	Note Registration Number(s);	 	RL-5; $8,000,000
	Principal Amount(s)	 	RN-5; $12,000,000
	Payment on account of Note(s)	 	Federal Funds Wire Transfer
	Method	 	The Bank of New York
	Account information	 	New York, NY
	 	 	ABA #021000018
	 	 	Credit A/C# GLA111566
	 	 	A/C Name: Institutional Custody Insurance Division
	 	 	Custody Account Name: Aviva Life and Annuity Co-Annuity
	 	 	Custody Account Number: 010048
	 	 	Ref: “Accompanying Information” below
	Accompanying information	 	Name of Company: CHS INC.
	 	 	Description of Security: 4.08% Series L Senior Notes due June 9,
	 	 	2019
	 	 	PPN: 12542R C*9

Description of Security: 4.67% Series N Senior Notes due June 9,

2023

PPN: 12542R C#5

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Email for all Notices,
	 	PREFERRED REMITTANCE:

	including Financials, Compliance

and Requests
	 	privateplacements@avivainvestors.com

—

Aviva Life and Annuity Company

c/o Aviva Investors North America, Inc.

215 10th Street, Suite 1000

Des Moines, IA 50309

Attn: Private Fixed Income Dept.

	 
	 	 

	Instructions re Delivery of Notes
	 	The Bank of New York

One Wall Street, 3rd Floor

Window A

New York, NY 10286

FAO: Aviva Life and Annuity Co-Annuity, A/C #010048

	 
	 	 

	Signature Block
	 	AVIVA LIFE AND ANNUITY COMPANY

By: Aviva Investors North America, Inc.,

Its authorized attorney-in-fact

By:     

Name:

	 	 	Title:

	 
	 	 

	Tax identification number
	 	42-0175020 (Aviva Life and Annuity Company

13-6062916 (Hare & Co.)

	 
	 	 

26

	 	 	 
	Purchaser Name	 	AVIVA LIFE AND ANNUITY COMPANY
	Name in which to register Note(s)
	 	HARE & CO.

	 
	 	 

	Note Registration Number(s);

Principal Amount(s)
	 	RO-1; $17,000,000

	 
	 	

	Payment on account of Note(s)

Method

Account information
	 	Federal Funds Wire Transfer

The Bank of New York

New York, NY

ABA #021000018

Credit A/C# GLA111566

A/C Name: Institutional Custody Insurance Division

Custody Account Name: ALA Custody

Custody Account Number: 010041

Ref: “Accompanying Information” below

	 
	 	 

	Accompanying information
	 	Name of Company: CHS INC.

Description of Security: 4.82% Series O Senior

Notes due June 9, 2026

PPN: 12542R D*8

Due date and application (as among principal,

interest and Make-Whole Amount) of the payment

being made:

	 
	 	 

	Address / Fax # for notices
	 	PREFERRED REMITTANCE:

	related to payments
	 	privateplacements@avivainvestors.com

	 	 	 

	 	 	Aviva Life and Annuity Company

c/o Aviva Investors North America, Inc.

215 10th Street, Suite 1000

Des Moines, IA 50309

Attn: Private Fixed Income Dept.

	 
	 	 

	Instructions re Delivery of Notes
	 	The Bank of New York

One Wall Street, 3rd Floor

Window A

New York, NY 10286

FAO: ALA Custody, A/C #010041

	 
	 	 

	Signature Block
	 	AVIVA LIFE AND ANNUITY COMPANY

By: Aviva Investors North America, Inc.,

Its authorized attorney-in-fact

By:     

Name:

	 	 	Title:

	 
	 	 

	Tax identification number
	 	42-0175020 (Aviva Life and Annuity Company

13-6062916 (Hare & Co.)

	 
	 	 

27

	 	 	 
	Purchaser Name	 	ROYAL NEIGHBORS OF AMERICA
	Name in which to register Note(s)
	 	ELL & CO.

	 
	 	 

	Note Registration Number(s);

Principal Amount(s)
	 	RO-2; $3,000,000

	 
	 	

	Payment on account of Note(s)

Method

Account information
	 	Federal Funds Wire Transfer

Northern Chgo/Trust

ABA #071000152

Credit wire account 5186041000

F/C 26-73769/Royal Neighbors

Ref: INC/DIVR and “Accompanying Information” below

	 
	 	 

	Accompanying information
	 	Name of Company: CHS INC.

Description of Security: 4.82% Series O Senior

Notes due June 9, 2026

PPN: 12542R D*8

Due date and application (as among principal,

interest and Make-Whole Amount) of the payment

being made:

	 
	 	 

	Address / Fax # for notices
	 	PREFERRED REMITTANCE:

	related to payments
	 	Ell & Co.

c/o Northern Trust Co.

P.O.Box 92395

Chicago, IL 60675

With a copy to:

	 	 	privateplacements@avivainvestors.com

	 	 	 

	 	 	Royal Neighbors of America

c/o Aviva Investors North America, Inc.

215 10th Street, Suite 1000

Des Moines, IA 50309

Attn: Private Fixed Income Dept.

	 
	 	 

	Address / Fax # for all other
	 	PREFERRED REMITTANCE:

	notices
	 	privateplacements@avivainvestors.com

	 	 	 

	 	 	Royal Neighbors of America

c/o Aviva Investors North America, Inc.

215 10th Street, Suite 1000

Des Moines, IA 50309

Attn: Private Fixed Income Dept

	 
	 	 

	Instructions re Delivery of Notes
	 	Northern Trust Co. NY

Harborside Financial Center Co.

Suite 1401

3 Second St.

Jersey City, NJ 07311

	 
	 	 

	Signature Block
	 	ROYAL NEIGHBORS OF AMERICA

By: Aviva Investors North America, Inc.,

Its authorized attorney-in-fact

By:     

Name:

	 	 	Title:

	 
	 	 

	Tax identification number
	 	36-1711198 (Royal Neighbors of America)

36-6412623 (Ell & Co.)

	 
	 	 

	 	 	 
	Purchaser Name	 	ALLIANZ LIFE INSURANCE COMPANY OF NORTH AMERICA
	Name in which to register Note(s)
	 	MAC & CO.

	 
	 	 

	Note Registration Number(s);

Principal Amount(s)
	 	RN-6; $17,000,000

RO-3; $20,000,000

	 
	 	

	Payment on account of Note(s)

Method

Account information
	 	Federal Funds Wire Transfer

MAC & CO.

The Bank of New York Mellon

ABA # 011001234

BNY Mellon Account No. ***

DDA 125261

Cost Center 1253

For Credit to Portfolio Account: AZL Special Investments ***

Ref: “Accompanying Information” below

	 
	 	 

	Accompanying information
	 	Name of Company: CHS INC.

Description of Security: 4.67% Series N Senior Notes due June

9, 2023

PPN: 12542R C#5

Description of Security: 4.82% Series O Senior Notes due June

9, 2026

PPN: 12542R D*8

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices

related to payments
	 	Allianz Life Insurance Company of North America

c/o Allianz of America, Inc.

Attn: Private Placements

55 Greens Farms Road

P.O. Box 5160

Westport, Connecticut 06881-5160

Phone: 203-221-8580

Fax: 203-221-8539

Email: PrivatePlacements@azoa.com

	 	 	 

	 	 	With a copy to:

	 	 	 

	 	 	Kathy Muhl

Supervisor – Income Group

The Bank of New York Mellon

Three Mellon Center – Room 153-1818

Pittsburgh, Pennsylvania 15259

Phone: 412-234-5192

Fax: 412-236-0800

Email: Kathy.muhl@bnymellon.com

	 
	 	 

	Address / Fax # for all other

notices
	 	Allianz Life Insurance Company of North America

c/o Allianz of America, Inc.

Attn: Private Placements

55 Greens Farms Road

P.O. Box 5160

Westport, Connecticut 06881-5160

Phone: 203-221-8580

Fax: 203-221-8539

Email: PrivatePlacements@azoa.com

	 
	 	 

	Instructions re Delivery of Notes
	 	Mellon Securities Trust Company

One Wall Street

3rd Floor Receive Window C

New York, NY 10286

For Credit to: Allianz Life Insurance Company of North America,

AZL Special Investments ***

	 
	 	

	Signature Block
	 	ALLIANZ LIFE INSURANCE COMPANY OF NORTH AMERICA

By:      

Name:

	 	 	Title:

	 
	 	 

	Tax identification number
	 	41-1366075

	 
	 	 

	 	 	 
	Purchaser Name	 	UNUM LIFE INSURANCE COMPANY OF AMERICA
	Name in which to register Note(s)
	 	CUDD & CO.

	 
	 	 

	Note Registration Number(s);

Principal Amount(s)
	 	RO-4; $10,000,000

	 
	 	

	Payment on account of Note(s)

Method

Account information
	 	Federal Funds Wire Transfer

CUDD & CO.

c/o JPMorgan Chase Bank

New York, NY

ABA # 021-000-021

Attn: SSG Private Income Processing

A/C: 900-9-000200

Custodial Account # G08287

Ref: “Accompanying Information” below

	 
	 	 

	Accompanying information
	 	Name of Company: CHS INC.

Description of Security: 4.82% Series O Senior Notes due

June 9, 2026

PPN: 12542R D*8

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices

related to payments
	 	Unum Life Insurance Company of America

c/o Provident Investment Management, LLC

One Fountain Square

Chattanooga, TN 37402

Attn: Private Placements

Fax: 423-294-3351

Email: PrivateCompliance@unum.com

	 
	 	 

	Address / Fax # for all other

notices
	 	Unum Life Insurance Company of America

c/o Provident Investment Management, LLC

One Fountain Square

Chattanooga, TN 37402

Attn: Private Placements

Fax: 423-294-3351

Email: PrivateCompliance@unum.com

	 
	 	 

	Instructions re Delivery of Notes
	 	JP Morgan Chase Bank, N.A.

4 Chase Metrotech Center, 3rd Floor

Brooklyn, NY 11245-0001

Attn: Physical Receive Dept

Ref: Unum Life Insurance Company of America, Account # G08287

	 
	 	 

	Signature Block
	 	UNUM LIFE INSURANCE COMPANY OF AMERICA

By: Provident Investment Management, LLC, its Agent

By—

Name:

	 	 	Title:

	 
	 	 

	Tax identification number
	 	13-6022143

	 
	 	 

28

	 	 	 
	Purchaser Name	 	PROVIDENT LIFE AND ACCIDENT INSURANCE COMPANY
	Name in which to register Note(s)
	 	CUDD & CO.

	 
	 	 

	Note Registration Number(s);

Principal Amount(s)
	 	RO-5; $10,000,000

	 
	 	

	Payment on account of Note(s)

Method

Account information
	 	Federal Funds Wire Transfer

CUDD & CO.

c/o JPMorgan Chase Bank

New York, NY

ABA # 021-000-021

Attn: SSG Private Income Processing

A/C: 900-9-000200

Custodial Account # G06704

Ref: “Accompanying Information” below

	 
	 	 

	Accompanying information
	 	Name of Company: CHS INC.

Description of Security: 4.82% Series O Senior

Notes due June 9, 2026

PPN: 12542R D*8

Due date and application (as among principal,

interest and Make-Whole Amount) of the payment

being made:

	 
	 	 

	Address / Fax # for notices

related to payments
	 	Provident Life and Accident Insurance Company

c/o Provident Investment Management, LLC

One Fountain Square

Chattanooga, TN 37402

Attn: Private Placements

Fax: 423-294-3351

Email: PrivateCompliance@unum.com

	 
	 	 

	Address / Fax # for all other

notices
	 	Provident Life and Accident Insurance Company

c/o Provident Investment Management, LLC

One Fountain Square

Chattanooga, TN 37402

Attn: Private Placements

Fax: 423-294-3351

Email: PrivateCompliance@unum.com

	 
	 	 

	Instructions re Delivery of Notes
	 	JP Morgan Chase Bank, N.A.

4 Chase Metrotech Center, 3rd Floor

Brooklyn, NY 11245-0001

Attn: Physical Receive Dept

Ref: Provident Life and Accident Insurance

Company, Account # G06704

	 
	 	 

	Signature Block
	 	PROVIDENT LIFE AND ACCIDENT INSURANCE COMPANY

By: Provident Investment Management, LLC, its Agent

By—

Name:

	 	 	Title:

	 
	 	 

	Tax identification number
	 	13-6022143

	 
	 	 

	 	 	 
	Purchaser Name	 	PROVIDENT LIFE AND CASUALTY INSURANCE COMPANY
	Name in which to register Note(s)	 	CUDD & CO.
	Note Registration Number(s);	 	RO-6; $10,000,000
	Principal Amount(s)	 	 
	Payment on account of Note(s)	 	Federal Funds Wire Transfer
	Method	 	CUDD & CO.
	Account information	 	c/o JPMorgan Chase Bank
	 	 	New York, NY
	 	 	ABA # 021-000-021
	 	 	Attn: SSG Private Income Processing
	 	 	A/C: 900-9-000200
	 	 	Custodial Account # ***
	 	 	Ref: “Accompanying Information” below
	Accompanying information	 	Name of Company: CHS INC.
	 	 	Description of Security: 4.82% Series O Senior Notes due June 9,
	 	 	2026
	 	 	PPN: 12542R D*8

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices

related to payments
	 	Provident Life and Casualty Insurance Company

c/o Provident Investment Management, LLC

One Fountain Square

Chattanooga, TN 37402

Attn: Private Placements

Fax: 423-294-3351

Email: PrivateCompliance@unum.com

	 
	 	 

	Address / Fax # for all other

notices
	 	Provident Life and Casualty Insurance Company

c/o Provident Investment Management, LLC

One Fountain Square

Chattanooga, TN 37402

Attn: Private Placements

Fax: 423-294-3351

Email: PrivateCompliance@unum.com

	 
	 	 

	Instructions re Delivery of Notes
	 	JP Morgan Chase Bank, N.A.

4 Chase Metrotech Center, 3rd Floor

Brooklyn, NY 11245-0001

Attn: Physical Receive Dept

Ref: Provident Life and Casualty Insurance Company, Account # ***

	 
	 	 

	Signature Block
	 	PROVIDENT LIFE AND CASUALTY INSURANCE COMPANY

By: Provident Investment Management, LLC, its Agent

By—

Name:

	 	 	Title:

	 
	 	 

	Tax identification number
	 	13-6022143

	 
	 	 

29

	 	 	 
	Purchaser Name	 	HARTFORD LIFE INSURANCE COMPANY
	Name in which to register Note(s)	 	HARTFORD LIFE INSURANCE COMPANY
	Note Registration Number(s);	 	RL-6; $5,000,000
	Principal Amount(s)	 	RL-7; $5,000,000
	Payment on account of Note(s)	 	Federal Funds Wire Transfer
	Method	 	JP Morgan Chase
	Account Information	 	4 New York Plaza
	 	 	New York New York 10004
	 	 	Bank ABA No.: 021000021
	 	 	Chase NYC/Cust
	 	 	A/C # 900-9-000200 for F/C/T G06616-LSO-B
	 	 	Attn: Bond Interest /Principal - and“Accompanying Information” below
	Accompanying Information	 	Name of Company: CHS INC.
	 	 	Description of Security: 4.08% Series L Senior Notes due June 9,
	 	 	2019
	 	 	PPN: 12542R C*9

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices related

to payments
	 	Hartford Investment Management Company

c/o Portfolio Support

55 Farmington Avenue

Hartford, CT 06105

Fax: 860-297-8875/8876

	 
	 	

	Address / Fax # for all other notices
	 	Hartford Investment Management Company

c/o Investment Department – Private Placements

55 Farmington Avenue

Hartford, CT 06105

Fax: 860-297-8884

	 
	 	 

	Instructions re: delivery of Notes
	 	JP Morgan Chase Bank, N.A.

4 Chase Metrotech Center, 3rd Floor

Brooklyn, NY 11245-0001

Attn: Physical Receive Dept.

Custody Account Number: G06616-LSO-B (must appear on outside of

envelope)

	 
	 	 

	Form signature block
	 	HARTFORD LIFE INSURANCE COMPANY

By: Hartford Investment Management Company

its Agent and Attorney-in-Fact

By:     

Name:

	 	 	Title:

	 
	 	 

	Tax Identification Number
	 	06-0974148

	 
	 	 

30

	 	 	 
	Purchaser Name	 	HARTFORD LIFE INSURANCE COMPANY
	Name in which to register Note(s)	 	HARTFORD LIFE INSURANCE COMPANY
	Note Registration Number(s);	 	RL-8; $5,000,000
	Principal Amount(s)	 	RL-9; $2,000,000
	Payment on account of Note(s)	 	Federal Funds Wire Transfer
	Method	 	JP Morgan Chase
	Account Information	 	4 New York Plaza
	 	 	New York New York 10004
	 	 	Bank ABA No.: 021000021
	 	 	Chase NYC/Cust
	 	 	A/C # 900-9-000200 for F/C/T G06607-LGA-B
	 	 	Attn: Bond Interest /Principal - and“Accompanying Information” below
	Accompanying Information	 	Name of Company: CHS INC.
	 	 	Description of Security: 4.08% Series L Senior Notes due June 9,
	 	 	2019
	 	 	PPN: 12542R C*9

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices related

to payments
	 	Hartford Investment Management Company

c/o Portfolio Support

55 Farmington Avenue

Hartford, CT 06105

Fax: 860-297-8875/8876

	 
	 	

	Address / Fax # for all other notices
	 	Hartford Investment Management Company

c/o Investment Department – Private Placements

55 Farmington Avenue

Hartford, CT 06105

Fax: 860-297-8884

	 
	 	 

	Instructions re: delivery of Notes
	 	JP Morgan Chase Bank, N.A.

4 Chase Metrotech Center, 3rd Floor

Brooklyn, NY 11245-0001

Attn: Physical Receive Dept.

Custody Account Number: G06607-LGA-B (must appear on outside of

envelope)

	 
	 	 

	Form signature block
	 	HARTFORD LIFE INSURANCE COMPANY

By: Hartford Investment Management Company

its Agent and Attorney-in-Fact

By:     

Name:

	 	 	Title:

	 
	 	 

	Tax Identification Number
	 	06-0974148

	 
	 	 

31

	 	 	 
	Purchaser Name	 	HARTFORD LIFE AND ANNUITY INSURANCE COMPANY
	Name in which to register Note(s)	 	HARTFORD LIFE AND ANNUITY INSURANCE COMPANY
	Note Registration Number(s);	 	RL-10; $5,000,000
	Principal Amount(s)	 	RL-11; $1,000,000
	Payment on account of Note(s)	 	Federal Funds Wire Transfer
	Method	 	JP Morgan Chase
	Account Information	 	4 New York Plaza
	 	 	New York New York 10004
	 	 	Bank ABA No.: 021000021
	 	 	Chase NYC/Cust
	 	 	A/C # 900-9-000200 for F/C/T G06583-ILA-B
	 	 	Attn: Bond Interest /Principal - and“Accompanying Information” below
	Accompanying Information	 	Name of Company: CHS INC.
	 	 	Description of Security: 4.08% Series L Senior Notes due June 9,
	 	 	2019
	 	 	PPN: 12542R C*9

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices related

to payments
	 	Hartford Investment Management Company

c/o Portfolio Support

55 Farmington Avenue

Hartford, CT 06105

Fax: 860-297-8875/8876

	 
	 	

	Address / Fax # for all other notices
	 	Hartford Investment Management Company

c/o Investment Department – Private Placements

55 Farmington Avenue

Hartford, CT 06105

Fax: 860-297-8884

	 
	 	 

	Instructions re: delivery of Notes
	 	JP Morgan Chase Bank, N.A.

4 Chase Metrotech Center, 3rd Floor

Brooklyn, NY 11245-0001

Attn: Physical Receive Dept.

Custody Account Number: G06583-ILA-B (must appear on outside of

envelope)

	 
	 	 

	Form signature block
	 	HARTFORD LIFE AND ANNUITY INSURANCE COMPANY

By: Hartford Investment Management Company

its Agent and Attorney-in-Fact

By:     

Name:

	 	 	Title:

	 
	 	 

	Tax Identification Number
	 	39-1052598

	 
	 	 

	 	 	 
	Purchaser Name	 	PHYSICIANS LIFE INSURANCE COMPANY
	Name in which to register Note(s)	 	ELL & CO.
	Note Registration Number(s);	 	RL-12; $500,000
	Principal Amount(s)	 	 
	Payment on account of Note(s)	 	Federal Funds Wire Transfer
	Method	 	The Northern Trust Company
	Account Information	 	ABA #071000152
	 	 	Account 5186041000
	 	 	F/C/T Physicians Life Insurance Company - ***
	 	 	Ref: INC/DIV and “Accompanying Information” below
	Accompanying Information	 	Name of Company: CHS INC.
	 	 	Description of Security: 4.08% Series L Senior Notes due June 9,
	 	 	2019
	 	 	PPN: 12542R C*9

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices related

to payments
	 	Physicians Life Insurance Company

2600 Dodge St.

Omaha, NE 68131

Attn: Steven Scanlon

Fax: 402-633-1096

	 
	 	 

	Address / Fax # for all other notices
	 	Hartford Investment Management Company

c/o Investment Department – Private Placements

55 Farmington Avenue

Hartford, CT 06105

Fax: 860-297-8884

	 
	 	 

	Instructions re: delivery of Notes
	 	Northern Trust Company of New York

Harborside Financial Center 10, Ste. 1401

3 Second Street

Jersey City, NJ 07311

Re: Northern Acct # *** — Physicians Life Insurance Company

	 
	 	 

	Form signature block
	 	PHYSICIANS LIFE INSURANCE COMPANY

By: Hartford Investment Management Company

its Investment Manager

By:     

Name:

	 	 	Title:

	 
	 	 

	Tax Identification Number
	 	47-0529583

	 
	 	 

	 	 	 
	Purchaser Name	 	PHYSICIANS LIFE INSURANCE COMPANY
	Name in which to register Note(s)	 	ELL & CO.
	Note Registration Number(s);	 	RL-13; $500,000
	Principal Amount(s)	 	 
	Payment on account of Note(s)	 	Federal Funds Wire Transfer
	Method	 	The Northern Trust Company
	Account Information	 	ABA #071000152
	 	 	Account 5186041000
	 	 	F/C/T Physicians Life Insurance Company - 26-27103-QPL
	 	 	Ref: INC/DIV and “Accompanying Information” below
	Accompanying Information	 	Name of Company: CHS INC.
	 	 	Description of Security: 4.08% Series L Senior Notes due June 9,
	 	 	2019
	 	 	PPN: 12542R C*9

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices related

to payments
	 	Physicians Life Insurance Company

2600 Dodge St.

Omaha, NE 68131

Attn: Steven Scanlon

Fax: 402-633-1096

	 
	 	 

	Address / Fax # for all other notices
	 	Hartford Investment Management Company

c/o Investment Department – Private Placements

55 Farmington Avenue

Hartford, CT 06105

Fax: 860-297-8884

	 
	 	 

	Instructions re: delivery of Notes
	 	Northern Trust Company of New York

Harborside Financial Center 10, Ste. 1401

3 Second Street

Jersey City, NJ 07311

Re: Northern Acct #26-27103 — Physicians Life Insurance Company

	 
	 	 

	Form signature block
	 	PHYSICIANS LIFE INSURANCE COMPANY

By: Hartford Investment Management Company

its Investment Manager

By:     

Name:

	 	 	Title:

	 
	 	 

	Tax Identification Number
	 	47-0529583

	 
	 	 

32

	 	 	 
	Purchaser Name	 	USAA LIFE INSURANCE COMPANY
	Name in which to register Note(s)	 	ELL & CO.
	Note Registration Number(s);	 	RL-14; $12,000,000
	Principal Amount(s)	 	 
	Payment on account of Note(s)	 	Federal Funds Wire Transfer
	Method	 	Northern Chgo/Trust
	Account information	 	ABA#071000152
	 	 	Credit Wire Account # 5186041000
	 	 	26-11042/ Life Company
	 	 	Ref: “Accompanying Information” below
	Accompanying information	 	Name of Company: CHS INC.
	 	 	Description of Security: 4.08% Series L Senior Notes due June 9,
	 	 	2019
	 	 	PPN: 12542R C*9

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices

related to payments
	 	Ell & Co

c/o Northern Trust Company

PO Box 92395

Chicago, IL 60675-92395

Attn: Income Collections

Please include the cusip and shares/par for the dividend/interest

payment

	 
	 	 

	Address / Fax # for all other

notices
	 	John Spear

VP Insurance Portfolios

9800 Fredericksburg Road

San Antonio, TX 78288

(210) 498-8661

	 
	 	 

	Instructions re Delivery of Notes
	 	Northern Trust Company of New York

Account: 26-11042

Harborside Financial Center 10, Ste. 1401

3 Second Street

Jersey City, NJ 07311

	 
	 	 

	Signature Block
	 	USAA LIFE INSURANCE COMPANY

By:     

Name:

	 	 	Title:

	 
	 	 

	Tax identification number
	 	74-1472662

	 
	 	 

	 	 	 
	Purchaser Name	 	CASUALTY INSURANCE COMPANY
	Name in which to register Note(s)	 	ELL & CO.
	Note Registration Number(s);	 	RL-15; $5,000,000
	Principal Amount(s)	 	 
	Payment on account of Note(s)	 	Federal Funds Wire Transfer
	Method	 	Northern Chgo/Trust
	Account information	 	ABA#071000152
	 	 	Credit Wire Account # 5186041000
	 	 	*** / CIC
	 	 	Ref: “Accompanying Information” below
	Accompanying information	 	Name of Company: CHS INC.
	 	 	Description of Security: 4.08% Series L Senior Notes due June 9,
	 	 	2019
	 	 	PPN: 12542R C*9

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices

related to payments
	 	Ell & Co

c/o Northern Trust Company

PO Box 92395

Chicago, IL 60675-92395

Attn: Income Collections

Please include the cusip and shares/par for the dividend/interest

payment

	 
	 	 

	Address / Fax # for all other

notices
	 	Donna Baggerly

VP Insurance Portfolios

9800 Fredericksburg Road

San Antonio, TX 78288

(210) 498-8661

	 
	 	 

	Instructions re Delivery of Notes
	 	Northern Trust Company of New York

Harborside Financial Center 10, Ste. 1401

3 Second Street

Jersey City, NJ 07311

Ref: Account *** / CIC

	 
	 	 

	Signature Block
	 	CASUALTY INSURANCE COMPANY

By:     

Name:

	 	 	Title:

	 
	 	 

	Tax identification number
	 	20-3019540

	 
	 	 

33

	 	 	 
	Purchaser Name	 	CATASTROPHE REINSURANCE COMPANY
	Name in which to register Note(s)	 	ELL & CO.
	Note Registration Number(s);	 	RL-16; $3,000,000
	Principal Amount(s)	 	 
	Payment on account of Note(s)	 	Federal Funds Wire Transfer
	Method	 	Northern Chgo/Trust
	Account information	 	ABA#071000152
	 	 	Credit Wire Account # 5186041000
	 	 	*** / CRC
	 	 	Ref: “Accompanying Information” below
	Accompanying information	 	Name of Company: CHS INC.
	 	 	Description of Security: 4.08% Series L Senior Notes due June 9,
	 	 	2019
	 	 	PPN: 12542R C*9

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices

related to payments
	 	Ell & Co

c/o Northern Trust Company

PO Box 92395

Chicago, IL 60675-92395

Attn: Income Collections

Please include the cusip and shares/par for the dividend/interest

payment

	 
	 	 

	Address / Fax # for all other

notices
	 	Donna Baggerly

VP Insurance Portfolios

9800 Fredericksburg Road

San Antonio, TX 78288

(210) 498-8661

	 
	 	 

	Instructions re Delivery of Notes
	 	Northern Trust Company of New York

Harborside Financial Center 10, Ste. 1401

3 Second Street

Jersey City, NJ 07311

Ref: Account *** / CRC

	 
	 	 

	Signature Block
	 	CATASTROPHE REINSURANCE COMPANY

By:     

Name:

	 	 	Title:

	 
	 	 

	Tax identification number
	 	20-4729999

	 
	 	 

	 	 	 
	Purchaser Name	 	AMERICAN FIDELITY ASSURANCE COMPANY
	Name in which to register Note(s)	 	FFB REGISTRATION
	Note Registration Number(s);	 	RO-7; $1,800,000
	Principal Amount(s)	 	 
	Payment on account of Note(s)	 	Federal Funds Wire Transfer
	Method	 	First Fidelity Bank, N.A.
	Account Information	 	ABA #103002691
	 	 	Account name: InvesTrust
	 	 	Acct #: 2000528686
	 	 	FFC: American Fidelity Assurance Company
	 	 	Account #: 52010414
	 	 	Attn: Debbie Sinard (405) 843-7177
	 	 	Ref: “Accompanying Information” below
	Accompanying Information	 	Name of Company: CHS INC.
	 	 	Description of Security: 4.82% Series O Senior Notes due June 9,
	 	 	2026
	 	 	PPN: 12542R D*8

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices related

to payments
	 	American Fidelity Assurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Address / Fax # for all other notices
	 	American Fidelity Assurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Instructions re: delivery of Notes
	 	InvesTrust

5101 N Classen Suite 620

Oklahoma City OK 73118

Account Name: American Fidelity Assurance Company

Account Number: 52010414

Contact: Trust Op

Tel: 405-843-7177

	 
	 	 

	Form signature block
	 	AMERICAN FIDELITY ASSURANCE COMPANY

By: Advantus Capital Management, Inc.

By:      

Name:

	 	 	Title:

	 
	 	 

	Tax Identification Number
	 	73-0714500

	 
	 	 

34

	 	 	 
	Purchaser Name	 	AMERICAN-AMICABLE LIFE INSURANCE COMPANY OF TEXAS
	Name in which to register Note(s)
	 	WELLS FARGO BANK N.A. FBO AMERICAN-AMICABLE LIFE INSURANCE COMPANY

OF TEXAS

	 
	 	 

	Note Registration Number(s);

Principal Amount(s)
	 	RO-8; $1,800,000

	 
	 	

	Payment on account of Note(s)

Method

Account Information
	 	Federal Funds Wire Transfer

Wells Fargo Bank N.A.

ABA #: 121000248

BNFA: 0000840245 (must use all 10 digits)

Beneficiary Acct Name: Trust Wire Clearing

Wells Fargo Acct Name: American-Amicable Life Insurance Company of

Texas

Wells Fargo Acct Number: 24004700

Attn: Duane Johnson (612) 667-6723

Ref: “Accompanying Information” below.

	 
	 	 

	Accompanying Information
	 	Name of Company: CHS INC.

Description of Security: 4.82% Series O Senior Notes due June 9,

2026

PPN: 12542R D*8

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices related

to payments
	 	American-Amicable Life Insurance Company of Texas

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Address / Fax # for all other notices
	 	American-Amicable Life Insurance Company of Texas

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Instructions re: delivery of Notes
	 	Wells Fargo — Investment Mgr Relations

733 Marquette Ave. 3rd Floor

MAC N9306-036

Minneapolis, MN 55479

Account Name: American-Amicable Life Insurance Company of Texas,

Account Number: : 24004700

Attn: Duane Johnson (612) 667-6723

	 
	 	 

	Form signature block
	 	AMERICAN-AMICABLE LIFE INSURANCE COMPANY OF TEXAS

By: Advantus Capital Management, Inc.

By:      

Name:

	 	 	Title:

	 
	 	 

	Tax Identification Number
	 	74-2179909

	 
	 	 

35

	 	 	 
	Purchaser Name	 	VANTIS LIFE INSURANCE COMPANY
	Name in which to register Note(s)	 	HARE & CO.
	Note Registration Number(s);	 	RM-7; $1,500,000
	Principal Amount(s)	 	 
	Payment on account of Note(s)	 	Federal Funds Wire Transfer
	Method	 	The Bank of New York Mellon
	Account Information	 	ABA#: 021	000 018
	 	 	GLA: 111566
	 	 	ACCT#: 906930
	 	 	ACCT Name: People’s United Bank
	 	 	Ref: “Accompanying Information” below.
	Accompanying Information	 	Name of Company: CHS INC.
	 	 	Description of Security: 4.52% Series M Senior Notes due June 9,
	 	 	2021
	 	 	PPN: 12542R C@7

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices related

to payments
	 	Vantis Life Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Address / Fax # for all other notices
	 	Vantis Life Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Instructions re: delivery of Notes
	 	The Bank of New York Mellon

One Wall Street 5th Floor

New York, NY 10286

Attn: Free Receive Dept.

Acct Name: Vantis Life Insurance Company, Acct #90630

	 
	 	 

	Form signature block
	 	VANTIS LIFE INSURANCE COMPANY

By: Advantus Capital Management, Inc.

By:      

Name:

	 	 	Title:

	 
	 	 

	Tax Identification Number
	 	06-0523876

	 
	 	 

36

	 	 	 
	Purchaser Name	 	OCCIDENTAL LIFE INSURANCE COMPANY OF NORTH CAROLINA
	Name in which to register Note(s)
	 	WELLS FARGO BANK N.A. FBO OCCIDENTAL LIFE INSURANCE COMPANY OF

NORTH CAROLINA

	 
	 	 

	Note Registration Number(s);

Principal Amount(s)
	 	RO-9; $1,400,000

	 
	 	

	Payment on account of Note(s)

Method

Account Information
	 	Federal Funds Wire Transfer

Wells Fargo Bank N.A.

ABA #: 121000248

BNFA: 0000840245 (must use all 10 digits)

Beneficiary Acct Name: Trust Wire Clearing

Wells Fargo Acct Name: Occidental Life Insurance Company of North

Carolina

Wells Fargo Acct Number: 24005000

Attn: Duane Johnson (612) 667-6723

Ref: “Accompanying Information” below.

	 
	 	 

	Accompanying Information
	 	Name of Company: CHS INC.

Description of Security: 4.82% Series O Senior Notes due June 9,

2026

PPN: 12542R D*8

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices related

to payments
	 	Occidental Life Insurance Company of North Carolina

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Address / Fax # for all other notices
	 	Occidental Life Insurance Company of North Carolina

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Instructions re: delivery of Notes
	 	Wells Fargo — Investment Mgr Relations

733 Marquette Ave. 3rd Floor

MAC N9306-036

Minneapolis, MN 55479

Account Name: Occidental Life Insurance Company of North Carolina,

Account Number: : 24005000

Attn: Duane Johnson (612) 667-6723

	 
	 	 

	Form signature block
	 	OCCIDENTAL LIFE INSURANCE COMPANY OF NORTH CAROLINA

By: Advantus Capital Management, Inc.

By:      

Name:

	 	 	Title:

	 
	 	 

	Tax Identification Number
	 	56-0343440

	 
	 	 

37

	 	 	 
	Purchaser Name	 	AMERICAN REPUBLIC INSURANCE COMPANY
	Name in which to register Note(s)
	 	WELLS FARGO BANK N.A. AS CUSTODIAN FOR AMERICAN REPUBLIC INSURANCE

COMPANY

	 
	 	 

	Note Registration Number(s);

Principal Amount(s)
	 	RL-17; $1,300,000

	 
	 	

	Payment on account of Note(s)

Method

Account Information
	 	Federal Funds Wire Transfer

Wells Fargo Bank N.A.

ABA #: 121000248

BNFA: 0000840245 (must use all 10 digits)

Beneficiary Acct Name: Trust Wire Clearing

FFC Attn: Income Collections, a/c #20983400

For further credit to: American Republic Insurance Company, Account

No. 20983400

Ref: “Accompanying Information” below.

	 
	 	 

	Accompanying Information
	 	Name of Company: CHS INC.

Description of Security: 4.08% Series L Senior Notes due June 9,

2019

PPN: 12542R C*9

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices related

to payments
	 	American Republic Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Address / Fax # for all other notices
	 	American Republic Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Instructions re: delivery of Notes
	 	Wells Fargo — Investment Mgr Relations

733 Marquette Ave. 3rd Floor

MAC N9306-036

Minneapolis, MN 55479

Account Name: American Republic Insurance Company, Account Number:

	 	 	20983400

Attn: Duane Johnson (612) 667-6723

	 
	 	 

	Form signature block
	 	AMERICAN REPUBLIC INSURANCE COMPANY

By: Advantus Capital Management, Inc.

By:      

Name:

	 	 	Title:

	 
	 	 

	Tax Identification Number
	 	42-0113630

	 
	 	 

38

	 	 	 
	Purchaser Name	 	TRUSTMARK INSURANCE COMPANY
	Name in which to register Note(s)	 	ELL & CO.
	Note Registration Number(s);	 	RN-7; $1,000,000
	Principal Amount(s)	 	 
	Payment on account of Note(s)	 	Federal Funds Wire Transfer
	Method	 	Northern Chgo/Trust
	Account Information	 	ABA #071000152
	 	 	For Credit to: Account No. 5186041000
	 	 	For further Credit to: Account No. 26-11938/Trustmark Insurance
	 	 	Company
	 	 	Attn: Income Collections
	 	 	Ref: “Accompanying Information” below
	Accompanying Information	 	Name of Company: CHS INC.
	 	 	Description of Security: 4.67% Series N Senior Notes due June 9,
	 	 	2023
	 	 	PPN: 12542R C#5

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices related

to payments
	 	Trustmark Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Address / Fax # for all other notices
	 	Trustmark Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Instructions re: delivery of Notes
	 	Northern Trust Co. of NY

Harborside Financial Center 10

Suite 1401

3 Second St.

Jersey City, NJ 07311

For Acct# 26-11938, Trustmark Insurance Company

Attn: Jose Mero

	 
	 	 

	Form signature block
	 	TRUSTMARK INSURANCE COMPANY

By: Advantus Capital Management, Inc.

By:      

Name:

	 	 	Title:

	 
	 	 

	Tax Identification Number
	 	36-0792925

	 
	 	 

39

	 	 	 
	Purchaser Name	 	BLUE CROSS AND BLUE SHIELD OF FLORIDA, INC.
	Name in which to register Note(s)	 	HARE & CO.
	Note Registration Number(s);	 	RL-18; $900,000
	Principal Amount(s)	 	 
	Payment on account of Note(s)	 	Federal Funds Wire Transfer
	Method	 	Federal Reserve Bank of Boston
	Account Information	 	ABA: #011001234
	 	 	DDA# 048771
	 	 	Blue Cross and Blue Shield of Florida, F1BF5314632
	 	 	Ref: “Accompanying Information” below.
	Accompanying Information	 	Name of Company: CHS INC.
	 	 	Description of Security: 4.08% Series L Senior Notes due June 9,
	 	 	2019
	 	 	PPN: 12542R C*9

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices related

to payments
	 	Blue Cross and Blue Shield of Florida, Inc.

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Address / Fax # for all other notices
	 	Blue Cross and Blue Shield of Florida, Inc.

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Instructions re: delivery of Notes
	 	Mellon Securities Trust Co.

One Wall Street 3rd Floor

Receive Window C

New York, NY 10286

Acct Name: Blue Cross and Blue Shield of Florida, Inc. F1BF5314632

	 
	 	 

	Form signature block
	 	BLUE CROSS AND BLUE SHIELD OF FLORIDA, INC.

By: Advantus Capital Management, Inc.

By:      

Name:

	 	 	Title:

	 
	 	 

	Tax Identification Number
	 	59-2015694

	 
	 	 

40

	 	 	 
	Purchaser Name	 	GUIDEONE SPECIALTY MUTUAL INSURANCE COMPANY
	Name in which to register Note(s)
	 	WELLS FARGO BANK, N.A. AS CUSTODIAN FOR GUIDEONE SPECIALTY MUTUAL

INSURANCE COMPANY

	 
	 	 

	Note Registration Number(s);

Principal Amount(s)
	 	RL-19; $900,000

	 
	 	

	Payment on account of Note(s)

Method

Account Information
	 	Federal Funds Wire Transfer

Wells Fargo Bank N.A.

ABA #: 121000248

BNFA: 0000840245 (must use all 10 digits)

Beneficiary Acct Name: Trust Wire Clearing

OBI FFC: 21025100

GuideOne Specialty Mutual Insurance Company

Attn: Jozsef Hegedus (612) 667-7612

Ref: “Accompanying Information” below.

	 
	 	 

	Accompanying Information
	 	Name of Company: CHS INC.

Description of Security: 4.08% Series L Senior Notes due June 9,

2019

PPN: 12542R C*9

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices related

to payments
	 	GuideOne Specialty Mutual Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Address / Fax # for all other notices
	 	GuideOne Specialty Mutual Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Instructions re: delivery of Notes
	 	Wells Fargo Bank Trust Operations Center

733 Marquette Ave. 3rd Floor

MAC N9306-036

Minneapolis, MN 55479

Account Name: Wells Fargo Bank Custodian for GuideOne Specialty

Mutual Insurance Company, Account Number: 21025100

Attn: Jozsef Hegedus (612) 667-7612

	 
	 	 

	Form signature block
	 	GUIDEONE SPECIALTY MUTUAL INSURANCE COMPANY

By: Advantus Capital Management, Inc.

By:      

Name:

	 	 	Title:

	 
	 	 

	Tax Identification Number
	 	42-0660911

	 
	 	 

41

	 	 	 
	Purchaser Name	 	GUIDEONE PROPERTY & CASUALTY INSURANCE COMPANY
	Name in which to register Note(s)
	 	WELLS FARGO BANK, N.A. AS CUSTODIAN FOR GUIDEONE PROPERTY &

CASUALTY INSURANCE COMPANY

	 
	 	 

	Note Registration Number(s);

Principal Amount(s)
	 	RL-20; $900,000

	 
	 	

	Payment on account of Note(s)

Method

Account Information
	 	Federal Funds Wire Transfer

Wells Fargo Bank N.A.

ABA #: 121000248

BNFA: 0000840245 (must use all 10 digits)

BNF: Trust Wire Clearing

OBI FFC: 21025400

GuideOne Property & Casualty Insurance Company

Attn: Jozsef Hegedus (612) 667-7612

Ref: “Accompanying Information” below.

	 
	 	 

	Accompanying Information
	 	Name of Company: CHS INC.

Description of Security: 4.08% Series L Senior Notes due June 9,

2019

PPN: 12542R C*9

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices related

to payments
	 	GuideOne Property & Casualty Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Address / Fax # for all other notices
	 	GuideOne Property & Casualty Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Instructions re: delivery of Notes
	 	Wells Fargo Bank Trust Operations Center

733 Marquette Ave. 3rd Floor

MAC N9306-036

Security Control and Transfer

Minneapolis, MN 55479

Account Name: Wells Fargo Bank Custodian for GuideOne Property &

Casualty Insurance Company, Account Number: 21025400

Attn: Jozsef Hegedus (612) 667-7612

	 
	 	 

	Form signature block
	 	GUIDEONE PROPERTY & CASUALTY INSURANCE COMPANY

By: Advantus Capital Management, Inc.

By:      

Name:

	 	 	Title:

	 
	 	 

	Tax Identification Number
	 	42-1409999

	 
	 	 

42

	 	 	 
	Purchaser Name	 	CATHOLIC UNITED FINANCIAL
	Name in which to register Note(s)	 	WELLS FARGO BANK N.A. FBO CATHOLIC UNITED FINANCIAL
	Note Registration Number(s);	 	RM-8; $750,000
	Principal Amount(s)	 	 
	Payment on account of Note(s)	 	Federal Funds Wire Transfer
	Method	 	Wells Fargo Bank N.A.
	Account Information	 	ABA #: 121000248
	 	 	BNFA: 0000840245 (must use all 10 digits)
	 	 	Beneficiary Acct Name: Trust Wire Clearing
	 	 	Wells Fargo Acct Name: Catholic United Financial
	 	 	Wells Fargo Acct Number: 23825801
	 	 	Attn: Duane Johnson (612) 667-6723
	 	 	Ref: “Accompanying Information” below.
	Accompanying Information	 	Name of Company: CHS INC.
	 	 	Description of Security: 4.52% Series M Senior Notes due June 9,
	 	 	2021
	 	 	PPN: 12542R C@7

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices related

to payments
	 	Catholic United Financial

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Address / Fax # for all other notices
	 	Catholic United Financial

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Instructions re: delivery of Notes
	 	Wells Fargo — Investment Mgr Relations

733 Marquette Ave. 3rd Floor

MAC N9306-036

Minneapolis, MN 55479

Account Name: Catholic United Financial, Account Number: 23825801

Attn: Duane Johnson (612) 667-6723

	 
	 	 

	Form signature block
	 	CATHOLIC UNITED FINANCIAL

By: Advantus Capital Management, Inc.

By:      

Name:

	 	 	Title:

	 
	 	 

	Tax Identification Number
	 	41-0182070

	 
	 	 

43

	 	 	 
	Purchaser Name	 	INDUSTRIAL ALLIANCE PACIFIC INSURANCE AND FINANCIAL SERVICES, INC.
	Name in which to register Note(s)	 	HARE & CO.
	Note Registration Number(s);	 	RM-9; $750,000
	Principal Amount(s)	 	 
	Payment on account of Note(s)	 	Federal Funds Wire Transfer
	Method	 	Bank of New York
	Account Information	 	ABA #021000018
	 	 	GLA: 111-565
	 	 	Trust #271883
	 	 	A/C Name: Industrial Alliance Pacific Insurance and Financial
	 	 	Services, Inc.
	 	 	Ref: “Accompanying Information” below.
	Accompanying Information	 	Name of Company: CHS INC.
	 	 	Description of Security: 4.52% Series M Senior Notes due June 9,
	 	 	2021
	 	 	PPN: 12542R C@7

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices related

to payments
	 	Industrial Alliance Pacific Insurance and Financial Services, Inc.

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Address / Fax # for all other notices
	 	Industrial Alliance Pacific Insurance and Financial Services, Inc.

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Instructions re: delivery of Notes
	 	The Bank of New York

One Wall St. — 3rd Floor, Incoming Window

New York, NY 10286

For Acct #271883

Account Name: Industrial Alliance Pacific Insurance and Financial

Services, Inc.

	 
	 	 

	Form signature block
	 	INDUSTRIAL ALLIANCE PACIFIC INSURANCE AND FINANCIAL SERVICES, INC.

By: Advantus Capital Management, Inc.

By:      

Name:

	 	 	Title:

	 
	 	 

	Tax Identification Number
	 	98-0018913

	 
	 	 

44

	 	 	 
	Purchaser Name	 	MTL INSURANCE COMPANY
	Name in which to register Note(s)	 	ELL & CO.
	Note Registration Number(s);	 	RN-8; $500,000
	Principal Amount(s)	 	 
	Payment on account of Note(s)	 	Federal Funds Wire Transfer
	Method	 	Northern Chgo/Trust
	Account Information	 	ABA #071000152
	 	 	For Credit to: Account No. 5186041000
	 	 	For further Credit to: Account No. 26-00621/MTL Insurance Company
	 	 	Attn: Income Collections
	 	 	Ref: “Accompanying Information” below
	Accompanying Information	 	Name of Company: CHS INC.
	 	 	Description of Security: 4.67% Series N Senior Notes due June 9,
	 	 	2023
	 	 	PPN: 12542R C#5

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices related

to payments
	 	MTL Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Address / Fax # for all other notices
	 	MTL Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Instructions re: delivery of Notes
	 	Northern Trust Co. of NY

Harborside Financial Center 10

Suite 1401

3 Second St.

Jersey City, NJ 07311

For Acct# 26-00621, MTL Insurance Company

Attn: Jose Mero

	 
	 	 

	Form signature block
	 	MTL INSURANCE COMPANY

By: Advantus Capital Management, Inc.

By:      

Name:

	 	 	Title:

	 
	 	 

	Tax Identification Number
	 	36-1516780

	 
	 	 

	 	 	 
	Purchaser Name	 	FORT DEARBORN LIFE INSURANCE COMPANY
	Name in which to register Note(s)	 	ELL & CO.
	Note Registration Number(s);	 	RM-10; $500,000
	Principal Amount(s)	 	 
	Payment on account of Note(s)	 	Federal Funds Wire Transfer
	Method	 	Northern Chgo/Trust
	Account Information	 	ABA #071000152
	 	 	For Credit to: Account No. 5186041000
	 	 	For further Credit to: FDLIC-ADV MVA, Account No. ***
	 	 	Attn: Income Collections
	 	 	Ref: “Accompanying Information” below
	Accompanying Information	 	Name of Company: CHS INC.
	 	 	Description of Security: 4.52% Series M Senior Notes due June 9,
	 	 	2021
	 	 	PPN: 12542R C@7

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices related

to payments
	 	Fort Dearborn Life Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Address / Fax # for all other notices
	 	Fort Dearborn Life Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Instructions re: delivery of Notes
	 	Northern Trust Co. of NY

Harborside Financial Center 10

Suite 1401

3 Second St.

Jersey City, NJ 07311

For Acct# ***, FDLIC-ADV MVA

Attn: Jose Mero or Ruby Vega

	 
	 	 

	Form signature block
	 	FORT DEARBORN LIFE INSURANCE COMPANY

By: Advantus Capital Management, Inc.

By:      

Name:

	 	 	Title:

	 
	 	 

	Tax Identification Number
	 	36-2598882

	 
	 	 

45

	 	 	 
	Purchaser Name	 	FORT DEARBORN LIFE INSURANCE COMPANY
	Name in which to register Note(s)	 	ELL & CO.
	Note Registration Number(s);	 	RM-11; $500,000
	Principal Amount(s)	 	 
	Payment on account of Note(s)	 	Federal Funds Wire Transfer
	Method	 	Northern Chgo/Trust
	Account Information	 	ABA #071000152
	 	 	For Credit to: Account No. 5186041000
	 	 	For further Credit to: FDLIC-ADV GENERAL, Account No. ***
	 	 	Attn: Income Collections
	 	 	Ref: “Accompanying Information” below
	Accompanying Information	 	Name of Company: CHS INC.
	 	 	Description of Security: 4.52% Series M Senior Notes due June 9,
	 	 	2021
	 	 	PPN: 12542R C@7

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices related

to payments
	 	Fort Dearborn Life Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Address / Fax # for all other notices
	 	Fort Dearborn Life Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Instructions re: delivery of Notes
	 	Northern Trust Co. of NY

Harborside Financial Center 10

Suite 1401

3 Second St.

Jersey City, NJ 07311

For Acct# ***, FDLIC-ADV GENERAL

Attn: Jose Mero or Ruby Vega

	 
	 	 

	Form signature block
	 	FORT DEARBORN LIFE INSURANCE COMPANY

By: Advantus Capital Management, Inc.

By:      

Name:

	 	 	Title:

	 
	 	 

	Tax Identification Number
	 	36-2598882

	 
	 	 

46

	 	 	 
	Purchaser Name	 	FORT DEARBORN LIFE INSURANCE COMPANY
	Name in which to register Note(s)	 	ELL & CO.
	Note Registration Number(s);	 	RM-12; $500,000
	Principal Amount(s)	 	 
	Payment on account of Note(s)	 	Federal Funds Wire Transfer
	Method	 	Northern Chgo/Trust
	Account Information	 	ABA #071000152
	 	 	For Credit to: Account No. 5186041000
	 	 	For further Credit to: FDLIC-ADV EIA, Account No. ***
	 	 	Attn: Income Collections
	 	 	Ref: “Accompanying Information” below
	Accompanying Information	 	Name of Company: CHS INC.
	 	 	Description of Security: 4.52% Series M Senior Notes due June 9,
	 	 	2021
	 	 	PPN: 12542R C@7

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices related

to payments
	 	Fort Dearborn Life Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Address / Fax # for all other notices
	 	Fort Dearborn Life Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Instructions re: delivery of Notes
	 	Northern Trust Co. of NY

Harborside Financial Center 10

Suite 1401

3 Second St.

Jersey City, NJ 07311

For Acct# ***, FDLIC-ADV EIA

Attn: Jose Mero or Ruby Vega

	 
	 	 

	Form signature block
	 	FORT DEARBORN LIFE INSURANCE COMPANY

By: Advantus Capital Management, Inc.

By:      

Name:

	 	 	Title:

	 
	 	 

	Tax Identification Number
	 	36-2598882

	 
	 	 

	 	 	 
	Purchaser Name	 	FORT DEARBORN LIFE INSURANCE COMPANY
	Name in which to register Note(s)	 	ELL & CO.
	Note Registration Number(s);	 	RM-13; $500,000
	Principal Amount(s)	 	 
	Payment on account of Note(s)	 	Federal Funds Wire Transfer
	Method	 	Northern Chgo/Trust
	Account Information	 	ABA #071000152
	 	 	For Credit to: Account No. 5186041000
	 	 	For further Credit to: FDLIC-ADVANTUS INSURED, Account No. 2671446
	 	 	Attn: Income Collections
	 	 	Ref: “Accompanying Information” below
	Accompanying Information	 	Name of Company: CHS INC.
	 	 	Description of Security: 4.52% Series M Senior Notes due June 9,
	 	 	2021
	 	 	PPN: 12542R C@7

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices related

to payments
	 	Fort Dearborn Life Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Address / Fax # for all other notices
	 	Fort Dearborn Life Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Instructions re: delivery of Notes
	 	Northern Trust Co. of NY

Harborside Financial Center 10

Suite 1401

3 Second St.

Jersey City, NJ 07311

For Acct# 2671446, FDLIC-ADVANTUS INSURED

Attn: Jose Mero or Ruby Vega

	 
	 	 

	Form signature block
	 	FORT DEARBORN LIFE INSURANCE COMPANY

By: Advantus Capital Management, Inc.

By:      

Name:

	 	 	Title:

	 
	 	 

	Tax Identification Number
	 	36-2598882

	 
	 	 

47

	 	 	 
	Purchaser Name	 	FORT DEARBORN LIFE INSURANCE COMPANY
	Name in which to register Note(s)	 	ELL & CO.
	Note Registration Number(s);	 	RM-14; $500,000
	Principal Amount(s)	 	 
	Payment on account of Note(s)	 	Federal Funds Wire Transfer
	Method	 	Northern Chgo/Trust
	Account Information	 	ABA #071000152
	 	 	For Credit to: Account No. 5186041000
	 	 	For further Credit to: FDLIC-ADVANTUS C&S, Account No. 2671447
	 	 	Attn: Income Collections
	 	 	Ref: “Accompanying Information” below
	Accompanying Information	 	Name of Company: CHS INC.
	 	 	Description of Security: 4.52% Series M Senior Notes due June 9,
	 	 	2021
	 	 	PPN: 12542R C@7

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices related

to payments
	 	Fort Dearborn Life Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Address / Fax # for all other notices
	 	Fort Dearborn Life Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Instructions re: delivery of Notes
	 	Northern Trust Co. of NY

Harborside Financial Center 10

Suite 1401

3 Second St.

Jersey City, NJ 07311

For Acct# 2671447, FDLIC-ADVANTUS C&S

Attn: Jose Mero or Ruby Vega

	 
	 	 

	Form signature block
	 	FORT DEARBORN LIFE INSURANCE COMPANY

By: Advantus Capital Management, Inc.

By:      

Name:

	 	 	Title:

	 
	 	 

	Tax Identification Number
	 	36-2598882

	 
	 	 

48

	 	 	 
	Purchaser Name	 	NEW ERA LIFE INSURANCE
	Name in which to register Note(s)	 	CUDD & CO.
	Note Registration Number(s);	 	RM-15; $500,000
	Principal Amount(s)	 	 
	Payment on account of Note(s)	 	Federal Funds Wire Transfer
	Method	 	JPMorgan Chase
	Account Information	 	ABA #021000021
	 	 	FFC to: 9009000127
	 	 	Account: P05155
	 	 	Account Name: New Era Life Insurance
	 	 	Ref: “Accompanying Information” below
	Accompanying Information	 	Name of Company: CHS INC.
	 	 	Description of Security: 4.52% Series M Senior Notes due June 9,
	 	 	2021
	 	 	PPN: 12542R C@7

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices related

to payments
	 	New Era Life Insurance

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Address / Fax # for all other notices
	 	New Era Life Insurance

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Attn: Client Administrator

	 
	 	 

	Instructions re: delivery of Notes
	 	JP Morgan Chase Bank, N.A.

4 Chase Metrotech Center, 3rd Floor

Brooklyn, NY 11245-0001

Attn: Physical Receive Dept.

Account #P05155

	 
	 	 

	Form signature block
	 	NEW ERA LIFE INSURANCE

By: Advantus Capital Management, Inc.

By:      

Name:

	 	 	Title:

	 
	 	 

	Tax Identification Number
	 	74-2552025

	 
	 	 

49

	 	 	 
	Purchaser Name	 	GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
	Name in which to register Note(s)
	 	GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY

	 
	 	 

	Note Registration Number(s);

Principal Amount(s)
	 	RM-16; $3,500,000

RN-9; $10,000,000

	 
	 	

	Payment on account of Note(s)

Method

Account information
	 	Federal Funds Wire Transfer

The Bank of New York

ABA No.: 021-000-018

BNF Acct No.: IOC566

Further Credit To: : Great-West Life/Acct No. 640935

Ref: “Accompanying Information” below

	 
	 	 

	Accompanying information
	 	Name of Company: CHS INC.

Description of Security: 4.52% Series M Senior Notes

due June 9, 2021

PPN: 12542R C@7

Description of Security: 4.67% Series N Senior Notes

due June 9, 2023

PPN: 12542R C#5

Due date and application (as among principal,

interest and Make-Whole Amount) of the payment being

made:

	 
	 	 

	Address / Fax # for all notices

and communications
	 	Great-West Life & Annuity Insurance Company

8515 East Orchard Road, 3T2

Greenwood Village, CO 80111

Attn: Investments Division

Fax: (303) 737-6193

	 
	 	 

	Instructions re Delivery of Notes
	 	The Bank of New York Mellon

3rd Floor, Window A

One Wall Street

New York, NY 10286

Attn: Receive/Deliver Dept (Great-West

Life/Acct No. 640935)

	 
	 	 

	Signature Block
	 	GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY

By:     

Name:

	 	 	Title:

	 	 	By:     

Name:

	 	 	Title:

	 
	 	 

	Tax identification number
	 	84-0467907

	 
	 	 

	 	 	 
	Purchaser Name	 	GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY
	Name in which to register Note(s)
	 	GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY

	 
	 	 

	Note Registration Number(s);

Principal Amount(s)
	 	RM-17; $500,000

	 
	 	

	Payment on account of Note(s)

Method

Account information
	 	Federal Funds Wire Transfer

The Bank of New York

ABA No.: 021-000-018

BNF Acct No.: IOC566

Further Credit To: : Great-West Life/Acct No. ***

Ref: “Accompanying Information” below

	 
	 	 

	Accompanying information
	 	Name of Company: CHS INC.

Description of Security: 4.52% Series M Senior Notes due

June 9, 2021

PPN: 12542R C@7

Due date and application (as among principal, interest

and Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for all notices

and communications
	 	Great-West Life & Annuity Insurance Company

8515 East Orchard Road, 3T2

Greenwood Village, CO 80111

Attn: Investments Division

Fax: (303) 737-6193

	 
	 	 

	Instructions re Delivery of Notes
	 	The Bank of New York Mellon

3rd Floor, Window A

One Wall Street

New York, NY 10286

Attn: Receive/Deliver Dept (Great-West Life/Acct No. ***)

	 
	 	 

	Signature Block
	 	GREAT-WEST LIFE & ANNUITY INSURANCE COMPANY

By:     

Name:

	 	 	Title:

	 	 	By:     

Name:

	 	 	Title:

	 
	 	 

	Tax identification number
	 	84-0467907

	 
	 	 

	 	 	 
	Purchaser Name	 	PHOENIX LIFE INSURANCE COMPANY
	Name in which to register Note(s)	 	PHOENIX LIFE INSURANCE COMPANY
	Note Registration Number(s);	 	RN-10; $4,000,000
	Principal Amount(s)	 	 
	Payment on account of Note(s)	 	Federal Funds Wire Transfer
	Method	 	JP Morgan Chase Bank
	Account Information	 	ABA #021000021
	 	 	New York, NY
	 	 	Account No. 900-9000-200
	 	 	Account Name: Income Processing
	 	 	Reference A/C # G05123, Phoenix Life Insurance Company and
	 	 	“Accompanying information” below
	Accompanying Information	 	Name of Company: CHS INC.
	 	 	Description of Security: 4.67% Series N Senior Notes due June 9,
	 	 	2023
	 	 	PPN: 12542R C#5

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices related

to payments
	 	Phoenix Life Insurance Company

c/o Goodwin Capital Advisers

One American Row, H-GW-1

P.O. Box 5056

Hartford, CT 06102-5056

Attn: Private Placement Department

Fax 860.403.7248

	 
	 	 

	Address / Fax # for all other notices
	 	Phoenix Life Insurance Company

c/o Goodwin Capital Advisers

One American Row, H-GW-1

P.O. Box 5056

Hartford, CT 06102-5056

Attn: Private Placement Department

Fax 860.403.7248

	 
	 	 

	Instructions re: delivery of Notes
	 	Phoenix Life Insurance Company

One American Row

Hartford, CT 06102-5056

Attn: Brad Buck

	 
	 	 

	Form signature block
	 	PHOENIX LIFE INSURANCE COMPANY

By:      

Name:

	 	 	Title:

	 
	 	 

	Tax Identification Number
	 	06-0493340

	 
	 	 

50

	 	 	 
	Purchaser Name	 	PHL VARIABLE INSURANCE COMPANY
	Name in which to register Note(s)	 	PHL VARIABLE INSURANCE COMPANY
	Note Registration Number(s);	 	RO-10; $4,000,000
	Principal Amount(s)	 	 
	Payment on account of Note(s)	 	Federal Funds Wire Transfer
	Method	 	JP Morgan Chase Bank
	Account Information	 	ABA #021000021
	 	 	New York, NY
	 	 	Account No. 900-9000-200
	 	 	Account Name: Income Processing
	 	 	Reference A/C # G11923, PHL Variable Insurance Company and
	 	 	“Accompanying information” below
	Accompanying Information	 	Name of Company: CHS INC.
	 	 	Description of Security: 4.82% Series O Senior Notes due June 9,
	 	 	2026
	 	 	PPN: 12542R D*8

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices related

to payments
	 	PHL Variable Life Insurance Company

c/o Goodwin Capital Advisers

One American Row, H-GW-1

P.O. Box 5056

Hartford, CT 06102-5056

Attn: Private Placement Department

Fax 860.403.7248

	 
	 	 

	Address / Fax # for all other notices
	 	PHL Variable Life Insurance Company

c/o Goodwin Capital Advisers

One American Row, H-GW-1

P.O. Box 5056

Hartford, CT 06102-5056

Attn: Private Placement Department

Fax 860.403.7248

	 
	 	 

	Instructions re: delivery of Notes
	 	PHL Variable Life Insurance Company

One American Row

Hartford, CT 06102-5056

Attn: Brad Buck

	 
	 	 

	Form signature block
	 	PHL VARIABLE INSURANCE COMPANY

By:      

Name:

	 	 	Title:

	 
	 	 

	Tax Identification Number
	 	06-1045829

	 
	 	 

51

	 	 	 
	Purchaser Name	 	PHL VARIABLE INSURANCE COMPANY
	Name in which to register Note(s)	 	PHL VARIABLE INSURANCE COMPANY
	Note Registration Number(s);	 	RO-11; $1,000,000
	Principal Amount(s)	 	 
	Payment on account of Note(s)	 	Federal Funds Wire Transfer
	Method	 	JP Morgan Chase Bank
	Account Information	 	ABA #021000021
	 	 	New York, NY
	 	 	Account No. 900-9000-200
	 	 	Account Name: Income Processing
	 	 	Reference A/C # G09389, PHL Variable Insurance Company and
	 	 	“Accompanying information” below
	Accompanying Information	 	Name of Company: CHS INC.
	 	 	Description of Security: 4.82% Series O Senior Notes due June 9,
	 	 	2026
	 	 	PPN: 12542R D*8

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices related

to payments
	 	PHL Variable Life Insurance Company

c/o Goodwin Capital Advisers

One American Row, H-GW-1

P.O. Box 5056

Hartford, CT 06102-5056

Attn: Private Placement Department

Fax 860.403.7248

	 
	 	 

	Address / Fax # for all other notices
	 	PHL Variable Life Insurance Company

c/o Goodwin Capital Advisers

One American Row, H-GW-1

P.O. Box 5056

Hartford, CT 06102-5056

Attn: Private Placement Department

Fax 860.403.7248

	 
	 	 

	Instructions re: delivery of Notes
	 	PHL Variable Life Insurance Company

One American Row

Hartford, CT 06102-5056

Attn: Brad Buck

	 
	 	 

	Form signature block
	 	PHL VARIABLE INSURANCE COMPANY

By:      

Name:

	 	 	Title:

	 
	 	 

	Tax Identification Number
	 	06-1045829

	 
	 	 

52

	 	 	 
	Purchaser Name	 	MODERN WOODMEN OF AMERICA
	Name in which to register Note(s)
	 	MODERN WOODMEN OF AMERICA

	 
	 	 

	Note Registration Number(s);

Principal Amount(s)
	 	RM-18; $6,000,000

RN-11; $3,000,000

	 
	 	

	Payment on account of Note(s)

Method

Account information
	 	Federal Funds Wire Transfer

The Northern Trust Company

50 South LaSalle Street

Chicago, IL 60675

ABA No. 071-000-152

Account Name: Modern Woodmen of America

Account No. 84352

Ref: “Accompanying information” below

	 
	 	 

	Accompanying information
	 	Name of Company: CHS INC.

Description of Security: 4.52% Series M

Senior Notes due June 9, 2021

PPN: 12542R C@7

Description of Security: 4.67% Series N

Senior Notes due June 9, 2023

PPN: 12542R C#5

Due date and application (as among

principal, interest and Make-Whole

Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices

related to payments
	 	Modern Woodmen of America

Attn: Investment Accounting Department

1701 First Avenue

Rock Island, IL 61201

Fax: (309) 793-5688

	 
	 	 

	Address / Fax # for all other

notices
	 	Modern Woodmen of America

Attn: Investment Department

1701 First Avenue

Rock Island, IL 61201

Email: investments@modern-woodmen.org

Fax: (309) 793-5574

	 
	 	 

	Instructions re Delivery of Notes
	 	Modern Woodmen of America

1701 1st Ave

Rock Island, IL  61201

Attn: Douglas A. Pannier

	 
	 	 

	Signature Block
	 	MODERN WOODMEN OF AMERICA

By:     

Name:

	 	 	Title:

	 
	 	 

	Tax identification number
	 	36-1493430

	 
	 	 

53

	 	 	 
	Purchaser Name	 	THE PHOENIX INSURANCE COMPANY
	Name in which to register Note(s)	 	THE PHOENIX INSURANCE COMPANY
	Note Registration Number(s);	 	RL-21; $4,000,000
	Principal Amount(s)	 	 
	Payment on account of Note(s)	 	Federal Funds Wire Transfer
	Method	 	JP Morgan Chase Bank
	Account information	 	ABA #021000021
	 	 	New York, NY
	 	 	Account No. 323954448
	 	 	Account Name: Travelers Indemnity Company - Private Placements
	 	 	Ref: “Accompanying information” below
	Accompanying information	 	Name of Company: CHS INC.
	 	 	Description of Security: 4.08% Series L Senior Notes due June 9,
	 	 	2019
	 	 	PPN: 12542R C*9

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices

related to payments
	 	The Phoenix Insurance Company

c/o The Travelers Companies, Inc.

9275-NB11B

385 Washington St.

St. Paul, MN 55102-1396

	 
	 	 

	Address / Fax # for all other

notices
	 	The Phoenix Insurance Company

c/o The Travelers Companies, Inc.

9275-NB11B

385 Washington St.

St. Paul, MN 55102-1396

	 
	 	 

	Instructions re Delivery of Notes
	 	The Phoenix Insurance Company

c/o The Travelers Companies, Inc.

385 Washington St.

St. Paul, MN 55102

Attn: Nicole Ankeny, Esq.

	 
	 	 

	Signature Block
	 	THE PHOENIX INSURANCE COMPANY

By:     

Name:

	 	 	Title:

	 
	 	 

	Tax identification number
	 	06-0303275

	 
	 	 

54

	 	 	 
	Purchaser Name	 	TRAVELERS CASUALTY AND SURETY COMPANY OF AMERICA
	Name in which to register Note(s)
	 	TRAVELERS CASUALTY AND SURETY COMPANY OF AMERICA

	 
	 	 

	Note Registration Number(s);

Principal Amount(s)
	 	RM-19; $4,000,000

	 
	 	

	Payment on account of Note(s)

Method

Account information
	 	Federal Funds Wire Transfer

JP Morgan Chase Bank

ABA #021000021

New York, NY

Account No. 323954448

Account Name: Travelers Indemnity Company — Private Placements

Ref: “Accompanying information” below

	 
	 	 

	Accompanying information
	 	Name of Company: CHS INC.

Description of Security: 4.52% Series M Senior Notes due June

9, 2021

PPN: 12542R C@7

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices

related to payments
	 	Travelers Casualty and Surety Company of America

c/o The Travelers Companies, Inc.

9275-NB11B

385 Washington St.

St. Paul, MN 55102-1396

	 
	 	 

	Address / Fax # for all other

notices
	 	Travelers Casualty and Surety Company of America

c/o The Travelers Companies, Inc.

9275-NB11B

385 Washington St.

St. Paul, MN 55102-1396

	 
	 	 

	Instructions re Delivery of Notes
	 	Travelers Casualty and Surety Company of America

c/o The Travelers Companies, Inc.

385 Washington St.

St. Paul, MN 55102

Attn: Nicole Ankeny, Esq.

	 
	 	 

	Signature Block
	 	TRAVELERS CASUALTY AND SURETY COMPANY OF AMERICA

By:     

Name:

	 	 	Title:

	 
	 	 

	Tax identification number
	 	06-0907370

	 
	 	 

55

	 	 	 
	Purchaser Name	 	LIFE INSURANCE COMPANY OF THE SOUTHWEST
	Name in which to register Note(s)
	 	LIFE INSURANCE COMPANY OF THE SOUTHWEST

	 
	 	 

	Note Registration Number(s);

Principal Amount(s)
	 	RM-20; $7,000,000

	 
	 	

	Payment on account of Note(s)

Method

Account information
	 	Federal Funds Wire Transfer

JPMorgan Chase & Co.

New York, NY 10010

ABA #021000021

Custody Account No.: G06475

Ref: “Accompanying Information” below

	 
	 	 

	Accompanying information
	 	Name of Company: CHS INC.

Description of Security: 4.52% Series M

Senior Notes due June 9, 2021

PPN: 12542R C@7

Due date and application (as among

principal, interest and Make-Whole

Amount) of the payment being made:

	 
	 	 

	Address / Fax # for all notices

and communications
	 	Life Insurance Company of the Southwest

c/o National Life Insurance Company

One National Life Drive

Montpelier, VT 05604

Attn: Private Placements

Fax: 802-223-9332

Email: shiggins@nationallife.com

	 
	 	 

	Instructions re Delivery of Notes
	 	Life Insurance Company of the Southwest

c/o National Life Insurance Company

One National Life Drive

Montpelier, VT 05604

Attn: R. Scott Higgins

	 
	 	 

	Signature Block
	 	LIFE INSURANCE COMPANY OF THE SOUTHWEST

By:     

Name:

	 	 	Title:

	 
	 	 

	Tax identification number
	 	75-0953004

	 
	 	 

56

	 	 	 
	Purchaser Name	 	THE OHIO NATIONAL LIFE INSURANCE COMPANY
	Name in which to register Note(s)
	 	THE OHIO NATIONAL LIFE INSURANCE COMPANY

	 
	 	 

	Note Registration Number(s);

Principal Amount(s)
	 	RM-21; $3,000,000

	 
	 	

	Payment on account of Note(s)

Method

Account information
	 	Federal Funds Wire Transfer

U.S. Bank N.A.

5th & Walnut Streets

Cincinnati, OH 45202

ABA #042-000013

For credit to The Ohio National Life

Insurance Company Account No. 910-275-7

Ref: “Accompanying information” below

	 
	 	 

	Accompanying information
	 	Name of Company: CHS INC.

Description of Security: 4.52% Series M

Senior Notes due June 9, 2021

PPN: 12542R C@7

Due date and application (as among

principal, interest and Make-Whole

Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices

related to payments
	 	The Ohio National Life Insurance Company

One Financial Way

Cincinnati, OH 45242

Attention: Investment Department

Fax: 513-794-4506

	 
	 	 

	Address / Fax # for all other

notices
	 	The Ohio National Life Insurance Company

One Financial Way

Cincinnati, OH 45242

Attention: Investment Department

Fax: 513-794-4506

	 
	 	 

	Instructions re Delivery of Notes
	 	The Ohio National Life Insurance Company

One Financial Way

Cincinnati, OH 45242

Attention: Jed R. Martin

	 
	 	 

	Signature Block
	 	THE OHIO NATIONAL LIFE INSURANCE COMPANY

By:      

Name: Jed R. Martin

Title: Vice President, Private Placements

	 
	 	 

	Tax identification number
	 	31-0397080

	 
	 	 

	 	 	 
	Purchaser Name	 	MONTGOMERY RE, INC.
	Name in which to register Note(s)
	 	MONTGOMERY RE, INC.

	 
	 	 

	Note Registration Number(s);

Principal Amount(s)
	 	RM-22; $1,000,000

	 
	 	

	Payment on account of Note(s)

Method

Account information
	 	Federal Funds Wire Transfer

U.S. Bank N.A.

5th & Walnut Streets

Cincinnati, OH 45202

ABA #042-000013

For credit to Montgomery Re, Inc.

Account No. ***

Ref: “Accompanying information” below

	 
	 	 

	Accompanying information
	 	Name of Company: CHS INC.

Description of Security: 4.52% Series M

Senior Notes due June 9, 2021

PPN: 12542R C@7

Due date and application (as among

principal, interest and Make-Whole

Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices related

to payments
	 	Montgomery Re, Inc.

One Financial Way

Cincinnati, OH 45242

Attention: Investment Department

Fax: 513-794-4506

	 
	 	 

	Address / Fax # for all other

notices
	 	Montgomery Re, Inc.

One Financial Way

Cincinnati, OH 45242

Attention: Investment Department

Fax: 513-794-4506

	 
	 	 

	Instructions re Delivery of Notes
	 	Montgomery Re, Inc.

One Financial Way

Cincinnati, OH 45242

Attention: Jed R. Martin

	 
	 	 

	Signature Block
	 	MONTGOMERY RE, INC.

By:      

Name:

	 	 	Title:

	 
	 	 

	Tax identification number
	 	26-3791519

	 
	 	 

57

	 	 	 
	Purchaser Name	 	MONTGOMERY RE, INC.
	Name in which to register Note(s)
	 	MONTGOMERY RE, INC.

	 
	 	 

	Note Registration Number(s);

Principal Amount(s)
	 	RN-12; $2,500,000

	 
	 	

	Payment on account of Note(s)

Method

Account information
	 	Federal Funds Wire Transfer

U.S. Bank N.A.

5th & Walnut Streets

Cincinnati, OH 45202

ABA #042-000013

For credit to Montgomery Re, Inc.

Account No. ***

Ref: “Accompanying information” below

	 
	 	 

	Accompanying information
	 	Name of Company: CHS INC.

Description of Security: 4.67% Series N

Senior Notes due June 9, 2023

PPN: 12542R C#5

Due date and application (as among

principal, interest and Make-Whole

Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices related

to payments
	 	Montgomery Re, Inc.

One Financial Way

Cincinnati, OH 45242

Attention: Investment Department

Fax: 513-794-4506

	 
	 	 

	Address / Fax # for all other

notices
	 	Montgomery Re, Inc.

One Financial Way

Cincinnati, OH 45242

Attention: Investment Department

Fax: 513-794-4506

	 
	 	 

	Instructions re Delivery of Notes
	 	Montgomery Re, Inc.

One Financial Way

Cincinnati, OH 45242

Attention: Jed R. Martin

	 
	 	 

	Signature Block
	 	MONTGOMERY RE, INC.

By:      

Name:

	 	 	Title:

	 
	 	 

	Tax identification number
	 	26-3791519

	 
	 	 

	 	 	 
	Purchaser Name	 	ASSURITY LIFE INSURANCE COMPANY
	Name in which to register Note(s)	 	ASSURITY LIFE INSURANCE COMPANY
	Note Registration Number(s);	 	RN-13; $2,000,000
	Principal Amount(s)	 	 
	Payment on account of Note(s)	 	Federal Funds Wire Transfer
	Method	 	US Bank National Association
	Account Information	 	13th and M Streets
	 	 	Lincoln, NE 68508
	 	 	ABA Number 104000029
	 	 	Account of: Assurity Life Insurance Company
	 	 	General Fund Account #1-494-0092-9092
	 	 	Ref: “Accompanying information” below
	Accompanying Information	 	Name of Company: CHS INC.
	 	 	Description of Security: 4.67% Series N Senior Notes due June 9,
	 	 	2023
	 	 	PPN: 12542R C#5

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	Address for Notices Related to

Payments
	 	Assurity Life Insurance Company

1526 K Street

Lincoln, NE 68508

Attn: Investment Division

Fax: 402-458-2170

	Address for all other Notices
	 	Assurity Life Insurance Company

1526 K Street

Lincoln, NE 68508

Attn: Victor Weber

Phone: 402-437-3682

Fax: 402-458-2170

Email: vweber@assurity.com

	 
	 	 

	Instructions for Delivery of Notes
	 	Assurity Life Insurance Company

1526 K Street

Lincoln, NE 68508

Attn: Victor Weber

	 
	 	 

	Signature Block
	 	ASSURITY LIFE INSURANCE COMPANY

By:     

Name:

	 	 	Title:

	 
	 	 

	Tax Identification Number
	 	38-1843471

	 
	 	 

58

	 	 	 
	Purchaser Name	 	THE UNION CENTRAL LIFE INSURANCE COMPANY
	Name in which to register Note(s)
	 	CUDD & CO. AS NOMINEE FOR THE UNION CENTRAL

LIFE INSURANCE COMPANY

	 
	 	 

	Note Registration Number(s);

Principal Amount(s)
	 	RM-23; $2,000,000

RN-14; $2,000,000

	 
	 	

	Payment on account of Note(s)

Method

Account information
	 	Federal Funds Wire Transfer

JPMorgan Chase Bank

ABA #021000021

DDA Clearing Account: 9009002859

Further Credit — Custody Fund P72228 (The

Union Central Life Insurance Company)

Ref: “Accompanying Information” below

	 
	 	 

	Accompanying information
	 	Name of Company: CHS INC.

Description of Security: 4.52% Series M

Senior Notes due June 9, 2021

PPN: 12542R C@7

Description of Security: 4.67% Series N

Senior Notes due June 9, 2023

PPN: 12542R C#5

Due date and application (as among principal,

interest and Make-Whole Amount) of the

payment being made:

	 
	 	 

	Address / Fax # for notices

related to payments
	 	The Union Central Life Insurance Company

1876 Waycross Rd

Cincinnati, Ohio 45240

Attention: Treasury Department

Fax: (513) 674-5275

	 
	 	 

	Address / Fax # for all other

notices
	 	The Union Central Life Insurance Company

c/o Summit Investment Partners

390 North Cotner Blvd.

Lincoln, NE 68505

	 
	 	 

	Instructions re Delivery of Notes
	 	JPMorgan Chase Bank, N.A.

4 Chase Metrotech Center, 3rd Floor

Brooklyn, NY 11245-0001

ATTN: Physical Receive Department

REF: Account P72228

REF: The Union Central Life Insurance Company

	 
	 	 

	Signature Block
	 	THE UNION CENTRAL LIFE INSURANCE COMPANY

By: Summit Investment Advisors, Inc., as Agent

By:      

Name:

	 	 	Title:

	 
	 	 

	Tax identification number
	 	31-0472910

	 
	 	 

	 	 	 
	Purchaser Name	 	AMERITAS LIFE INSURANCE CORP. - CLOSED BLOCK
	Name in which to register Note(s)
	 	CUDD & CO. AS NOMINEE FOR AMERITAS LIFE INSURANCE

CORP. — CLOSED BLOCK

	 
	 	 

	Note Registration Number(s);

Principal Amount(s)
	 	RM-24; $1,000,000

	 
	 	

	Payment on account of Note(s)

Method

Account information
	 	Federal Funds Wire Transfer

JPMorgan Chase Bank

ABA #021000021

DDA Clearing Account: 9009002859

Further Credit — Custody Fund *** (Ameritas Life

Insurance Corp. — Closed Block)

Ref: “Accompanying Information” below

	 
	 	 

	Accompanying information
	 	Name of Company: CHS INC.

Description of Security: 4.52% Series M Senior

Notes due June 9, 2021

PPN: 12542R C@7

Due date and application (as among principal,

interest and Make-Whole Amount) of the payment

being made:

	 
	 	 

	Address / Fax # for notices

related to payments
	 	Ameritas Life Insurance Corp.

c/o Summit Investment Partners

390 North Cotner Blvd.

Lincoln, NE 68505

Fax: 402-467-6970

	 
	 	 

	Address / Fax # for all other

notices
	 	Ameritas Life Insurance Corp.

c/o Summit Investment Partners

390 North Cotner Blvd.

Lincoln, NE 68505

	 
	 	 

	Instructions re Delivery of Notes
	 	JPMorgan Chase Bank, N.A.

4 Chase Metrotech Center, 3rd Floor

Brooklyn, NY 11245-0001

ATTN: Physical Receive Department

REF: Account ***

REF: Ameritas Life Insurance Corp. — Closed Block

	 
	 	 

	Signature Block
	 	AMERITAS LIFE INSURANCE CORP. — CLOSED BLOCK

By: Summit Investment Advisors, Inc., as Agent

By:      

Name:

	 	 	Title:

	 
	 	 

	Tax identification number
	 	47-0098400

	 
	 	 

	 	 	 
	Purchaser Name	 	AMERITAS LIFE INSURANCE CORP.
	Name in which to register Note(s)	 	CUDD & CO. AS NOMINEE FOR AMERITAS LIFE INSURANCE CORP.
	Note Registration Number(s);	 	RN-15; $1,000,000
	Principal Amount(s)	 	 
	Payment on account of Note(s)	 	Federal Funds Wire Transfer
	Method	 	JPMorgan Chase Bank
	Account information	 	ABA #021000021
	 	 	DDA Clearing Account: 9009002859
	 	 	Further Credit - Custody Fund P72220 (Ameritas Life Insurance Corp.)
	 	 	Ref: “Accompanying Information” below
	Accompanying information	 	Name of Company: CHS INC.
	 	 	Description of Security: 4.67% Series N Senior Notes due June 9,
	 	 	2023
	 	 	PPN: 12542R C#5

Due date and application (as among principal, interest and

Make-Whole Amount) of the payment being made:

	 
	 	 

	Address / Fax # for notices

related to payments
	 	Ameritas Life Insurance Corp.

c/o Summit Investment Partners

390 North Cotner Blvd.

Lincoln, NE 68505

Fax: 402-467-6970

	 
	 	 

	Address / Fax # for all other

notices
	 	Ameritas Life Insurance Corp.

c/o Summit Investment Partners

390 North Cotner Blvd.

Lincoln, NE 68505

	 
	 	 

	Instructions re Delivery of Notes
	 	JPMorgan Chase Bank, N.A.

4 Chase Metrotech Center, 3rd Floor

Brooklyn, NY 11245-0001

ATTN: Physical Receive Department

REF: Account P72220

REF: Ameritas Life Insurance Corp.

	 
	 	 

	Signature Block
	 	AMERITAS LIFE INSURANCE CORP.

By: Summit Investment Advisors, Inc., as Agent

By:      

Name:

	 	 	Title:

	 
	 	 

	Tax identification number
	 	47-0098400

	 
	 	 

59

	 	 	 
	Purchaser Name	 	ACACIA LIFE INSURANCE COMPANY
	Name in which to register Note(s)
	 	CUDD & CO. AS NOMINEE FOR ACACIA LIFE

INSURANCE COMPANY

	 
	 	 

	Note Registration Number(s);

Principal Amount(s)
	 	RM-25; $1,000,000

	 
	 	

	Payment on account of Note(s)

Method

Account information
	 	Federal Funds Wire Transfer

JPMorgan Chase Bank

ABA #021000021

DDA Clearing Account: 9009002859

Further Credit — Custody Fund P72216 (Acacia

Life Insurance Company)

Ref: “Accompanying Information” below

	 
	 	 

	Accompanying information
	 	Name of Company: CHS INC.

Description of Security: 4.52% Series M

Senior Notes due June 9, 2021

PPN: 12542R C@7

Due date and application (as among

principal, interest and Make-Whole Amount)

of the payment being made:

	 
	 	 

	Address / Fax # for notices

related to payments
	 	Acacia Life Insurance Company

c/o Summit Investment Partners

390 North Cotner Blvd.

Lincoln, NE 68505

Fax: 402-467-6970

	 
	 	 

	Address / Fax # for all other

notices
	 	Acacia Life Insurance Company

c/o Summit Investment Partners

390 North Cotner Blvd.

Lincoln, NE 68505

	 
	 	 

	Instructions re Delivery of Notes
	 	JPMorgan Chase Bank, N.A.

4 Chase Metrotech Center, 3rd Floor

Brooklyn, NY 11245-0001

ATTN: Physical Receive Department

REF: Account P72216

REF: Acacia Life Insurance Company.

	 
	 	 

	Signature Block
	 	ACACIA LIFE INSURANCE COMPANY

By: Summit Investment Advisors, Inc., as

Agent

By:      

Name:

	 	 	Title:

	 
	 	 

	Tax identification number
	 	53-0022880

	 
	 	 

60

	 	 	 
	Purchaser Name	 	ING LIFE INSURANCE AND ANNUITY COMPANY
	Name in which to register Note(s)
	 	ING LIFE INSURANCE AND ANNUITY COMPANY

	 
	 	 

	Note Registration Number(s);

Principal Amount(s)
	 	RM-26; $2,500,000

RN-16; $7,900,000

	 
	 	

	Payment on account of Note(s)

Method

Account information
	 	Federal Funds Wire Transfer

The Bank of New York Mellon

ABA#: 021000018

Account: IOC 566/INST’L CUSTODY (for

scheduled principal and interest payments)

or

Account: 565/INST’L CUSTODY (for all

payments other than scheduled principal and

interest)

For further credit: ILIAC/ Acct. No. 216101

Ref: “Accompanying Information” below

	 
	 	 

	Accompanying information
	 	Name of Company: CHS INC.

Description of Security: 4.52% Series M

Senior Notes due June 9, 2021

PPN: 12542R C@7

Description of Security: 4.67% Series N

Senior Notes due June 9, 2023

PPN: 12542R C#5

Due date and application (as among

principal, interest and Make-Whole Amount)

of the payment being made:

	 
	 	 

	Address / Fax # for notices

related to payments
	 	ING Investment Management LLC

5780 Powers Ferry Road NW, Suite 300

Atlanta, GA 30327-4347

Attn: Operations/Settlements

Fax: (770) 690-5316

	 
	 	 

	Address / Fax # for all other

notices
	 	ING Investment Management LLC

5780 Powers Ferry Road NW, Suite 300

Atlanta, GA 30327-4347

Attn: Private Placements

Fax: (770) 690-5342

	 
	 	 

	Instructions re Delivery of Notes
	 	The Bank of New York Mellon

One Wall Street

Window A — 3rd Floor

New York, NY 10286

Ref: ILIAC /Acct. 216101

Cc: Lindy Freitag, Esq.

	 
	 	 

	Signature Block
	 	ING LIFE INSURANCE AND ANNUITY COMPANY

By: ING Investment Management LLC, as Agent

By:     

Name:

	 	 	Title:

	 
	 	 

	Tax identification number
	 	71-0294708

	 
	 	 

61

	 	 	 
	Purchaser Name	 	ING USA ANNUITY AND LIFE INSURANCE COMPANY
	Name in which to register Note(s)
	 	ING USA ANNUITY AND LIFE INSURANCE COMPANY

	 
	 	 

	Note Registration Number(s);

Principal Amount(s)
	 	RM-27; $3,200,000

RN-17; $10,100,000

	 
	 	

	Payment on account of Note(s)

Method

Account information
	 	Federal Funds Wire Transfer

The Bank of New York Mellon

ABA#: 021000018

Account: IOC 566/INST’L CUSTODY (for

scheduled principal and interest payments)

or

Account: IOC 565/INST’L CUSTODY (for all

payments other than scheduled principal and

interest)

For further credit: ING USA/Acct. No. 136373

Ref: “Accompanying Information” below

	 
	 	 

	Accompanying information
	 	Name of Company: CHS INC.

Description of Security: 4.52% Series M

Senior Notes due June 9, 2021

PPN: 12542R C@7

Description of Security: 4.67% Series N

Senior Notes due June 9, 2023

PPN: 12542R C#5

Due date and application (as among

principal, interest and Make-Whole Amount)

of the payment being made:

	 
	 	 

	Address / Fax # for notices

related to payments
	 	ING Investment Management LLC

5780 Powers Ferry Road NW, Suite 300

Atlanta, GA 30327-4347

Attn: Operations/Settlements

Fax: (770) 690-5316

	 
	 	 

	Address / Fax # for all other

notices
	 	ING Investment Management LLC

5780 Powers Ferry Road NW, Suite 300

Atlanta, GA 30327-4347

Attn: Private Placements

Fax: (770) 690-5342

	 
	 	 

	Instructions re Delivery of Notes
	 	The Bank of New York Mellon

One Wall Street

Window A — 3rd Floor

New York, NY 10286

Ref: ING USA /Acct. 136373

Cc: Lindy Freitag, Esq.

	 
	 	 

	Signature Block
	 	ING USA ANNUITY AND LIFE INSURANCE COMPANY

By: ING Investment Management LLC, as Agent

By:     

Name:

	 	 	Title:

	 
	 	 

	Tax identification number
	 	41-0991508

	 
	 	 

62

	 	 	 
	Purchaser Name	 	RELIASTAR LIFE INSURANCE COMPANY
	Name in which to register Note(s)
	 	RELIASTAR LIFE INSURANCE COMPANY

	 
	 	 

	Note Registration Number(s);

Principal Amount(s)
	 	RM-28; $4,300,000

RN-18; $14,000,000

	 
	 	

	Payment on account of Note(s)

Method

Account information
	 	Federal Funds Wire Transfer

The Bank of New York Mellon

ABA#: 021000018

Account: IOC 566/INST’L CUSTODY (for

scheduled principal and interest payments)

or

Account: IOC 565/INST’L CUSTODY (for all

payments other than scheduled principal and

interest)

For further credit: RLIC/Acct. No. 187035

Ref: “Accompanying Information” below

	 
	 	 

	Accompanying information
	 	Name of Company: CHS INC.

Description of Security: 4.52% Series M

Senior Notes due June 9, 2021

PPN: 12542R C@7

Description of Security: 4.67% Series N

Senior Notes due June 9, 2023

PPN: 12542R C#5

Due date and application (as among

principal, interest and Make-Whole Amount)

of the payment being made:

	 
	 	 

	Address / Fax # for notices

related to payments
	 	ING Investment Management LLC

5780 Powers Ferry Road NW, Suite 300

Atlanta, GA 30327-4347

Attn: Operations/Settlements

Fax: (770) 690-5316

	 
	 	 

	Address / Fax # for all other

notices
	 	ING Investment Management LLC

5780 Powers Ferry Road NW, Suite 300

Atlanta, GA 30327-4347

Attn: Private Placements

Fax: (770) 690-5342

	 
	 	 

	Instructions re Delivery of Notes
	 	The Bank of New York Mellon

One Wall Street

Window A — 3rd Floor

New York, NY 10286

Ref: RLIC /Acct. 187035

Cc: Lindy Freitag, Esq.

	 
	 	 

	Signature Block
	 	RELIASTAR LIFE INSURANCE COMPANY

By: ING Investment Management LLC, as Agent

By:     

Name:

	 	 	Title:

	 
	 	 

	Tax identification number
	 	41-0451140

	 
	 	 

SCHEDULE B

DEFINED TERMS

As used herein, the following terms have the respective meanings set forth below or set forth
in the Section hereof following such term:

“Additional Notes” is defined in Section 1.2.

“Adjusted Consolidated Funded Debt” means Consolidated Funded Debt, plus the net present value
of all rentals payable under operating leases of the Company and its Subsidiaries as discounted by
a rate of 10% per annum.

“Affiliate” means, at any time, and with respect to any Person, (a) any other Person that at
such time directly or indirectly through one or more intermediaries Controls, or is Controlled by,
or is under common Control with, such first Person, and (b) any Person beneficially owning or
holding, directly or indirectly, 10% or more of any class of voting or equity interests of the
Company or any Subsidiary or any corporation of which the Company and its Subsidiaries beneficially
own or hold, in the aggregate, directly or indirectly, 10% or more of any class of voting or equity
interests. As used in this definition, “Control” means the possession, directly or indirectly, of
the power to direct or cause the direction of the management and policies of a Person, whether
through the ownership of Voting Interests, by contract or otherwise. Unless the context otherwise
clearly requires, any reference to an “Affiliate” is a reference to an Affiliate of the Company.

“Affiliated Entity” means the Subsidiaries of the Company and any of their or the Company’s
respective Controlled Affiliates. As used in this definition, “Control” means the possession,
directly or indirectly, of the power to direct or cause the direction of the management and
policies of a Person, whether through the ownership of voting securities, by contract or otherwise.

“Agreement, this” is defined in Section 17.3.

“Anti-Money Laundering Laws” is defined in Section 5.17(c).

“Blocked Person” is defined in Section 5.17(a).

“Business Day” means any day other than a Saturday, a Sunday or a day on which commercial
banks in New York, New York are required or authorized to be closed.

“Capital Lease” means, at any time, a lease with respect to which the lessee is required
concurrently to recognize the acquisition of an asset and the incurrence of a liability in
accordance with GAAP.

“Capitalized Lease Obligation” means with respect to any Person and a Capital Lease, the
amount of the obligation of such Person as the lessee under such Capital Lease (net of interest
expenses) which would, in accordance with GAAP, appear as a liability on a balance sheet of such
Person.

“Change in Control” means any Person or Persons acting in concert, together with the
Affiliates thereof, directly or indirectly controlling or owning (beneficially or otherwise) in the
aggregate more than 50% of the aggregate voting power of the issued and outstanding Voting
Interests of the Company.

“CoFina” means collectively, Cofina Financial, LLC, and each of its Subsidiaries.

“CoFina Debt” means, on any date of determination, Debt owing by CoFina in connection with the
sale or financing of CoFina Loan Assets, and in respect of which neither the Company nor any of its
other Subsidiaries has any obligation (including, without limitation, any indemnification
obligation) or liability.

“CoFina Loan Assets” means loan assets owned and loan commitments made by CoFina or a
Wholly-Owned Subsidiary in the ordinary course of business.

“Closing” is defined in Section 3.

“CoBank” means Co-Bank, ACB, a United States Agricultural Credit Bank.

“Code” means the Internal Revenue Code of 1986, as amended from time to time, and the rules
and regulations promulgated thereunder from time to time.

“Company” is defined in the introductory paragraph hereof.

“Confidential Information” is defined in Section 20.

“Consolidated Cash Flow” means for any period the sum of (a) earnings before income taxes of
the Company and its Subsidiaries for such period determined on a consolidated basis in accordance
with GAAP, plus (b) the amounts that have been deducted in the determination of such earnings
before income taxes for such period for (i) interest expense for such period, (ii) depreciation for
such period, (iii) amortization for such period and (iv) extraordinary non-cash losses for such
period, minus (c) the amounts that have been included in the determination of such earnings before
income taxes for such period for (i) one-time gains, (ii) extraordinary income, (iii) non-cash
patronage income, and (iv) non-cash equity earnings in joint ventures.

“Consolidated Funded Debt” means as of any date of determination, the total of all Funded Debt
of the Company and its Subsidiaries outstanding on such date, after eliminating all offsetting
debits and credits between the Company and its Subsidiaries and all other items required to be
eliminated in the course of preparation of consolidated financial statements of the Company and its
Subsidiaries in accordance with GAAP.

“Consolidated Members’ and Patrons’ Equity” means, with respect to the Company and its
Subsidiaries, the amount of equity accounts, plus (or minus in the case of a deficit) the amount of
surplus and retained earnings accounts of the Company and its Subsidiaries, plus (or minus in the
case of a deficit), to the extent not included in such equity accounts, the minority interests in
Subsidiaries; provided that the total amount of intangible assets of the Company and its
Subsidiaries (including, without limitation, unamortized debt discount and expense, deferred
charges and goodwill) included therein shall not exceed $30,000,000 (and to the extent such
intangible assets exceed $30,000,000, they will not be included in the calculation of Consolidated
Members’ and Patrons’ Equity); all as determined on a consolidated basis in accordance with GAAP
consistently applied.

“Consolidated Net Worth” means as of any date, total equity of the Company and its
Subsidiaries as of such date, determined on a consolidated basis in accordance with GAAP.

“Consolidated Total Assets” means at any time, the total assets of the Company and its
Subsidiaries that would be shown on a consolidated balance sheet of the Company and its
Subsidiaries at such time prepared in accordance with GAAP.

“Debt” means with respect to any Person

(a) all obligations of such Person for borrowed money (including all obligations for
borrowed money secured by any Lien with respect to any property owned by such Person whether
or not such Person has assumed or otherwise become liable for such obligations),

(b) all obligations of such Person for the deferred purchase price of property acquired
by such Person (excluding accounts payable arising in the ordinary course of business but
including all liabilities created or arising under any conditional sale or other title
retention agreement with respect to such property),

(c) all Capitalized Lease Obligations of such Person,

(d) the aggregate amount of CoFina Loan Assets subject to a sale or financing
arrangement, and

(e) all Guaranties of such Person with respect to liabilities of the type described in
clause (a), (b), (c) or (d) of any other Person,

provided that (i) Debt of a Subsidiary of the Company shall exclude such obligations and
Guaranties of such Subsidiary if owed or guaranteed by such Subsidiary to the Company or a
Wholly-Owned Subsidiary of the Company, (ii) Debt of the Company shall exclude such obligations and
Guaranties if owed or guaranteed by the Company to a Wholly-Owned Subsidiary of the Company and
(iii) Debt of the Company shall exclude any unfunded obligations which may exist now and in the
future in the Company’s pension plans.

“Debt Prepayment Application” is defined in Section 10.7(c).

“Default” means an event or condition the occurrence or existence of which would, with the
lapse of time or the giving of notice or both, become an Event of Default.

“Default Rate” means that rate of interest that is the greater of (a) 2% per annum above the
rate of interest stated in clause (a) of the first paragraph of the Notes or (b) 2% over the rate
of interest publicly announced by The Bank of New York in New York, New York as its “base” or
“prime” rate.

“Designated Portion” is defined in Section 10.7(b).

“Disclosure Documents” is defined in Section 5.3.

“Disposition Value” is defined in Section 10.7(c).

“Distribution” means, in respect of any corporation, association or other business entity:

(a) dividends or other distributions or payments on capital stock or other equity
interests of such corporation, association or other business entity (except distributions in
such stock or other equity interest); and

(b) the redemption or acquisition of such stock or other equity interests or of
warrants, rights or other options to purchase such stock or other equity interests (except
when solely in exchange for such stock or other equity interests) unless made,
contemporaneously, from the net proceeds of a sale of such stock or other equity interests.

“Electronic Delivery” is defined in Section 7.1(a).

“Environmental Laws” means any and all Federal, state, local, and foreign statutes, laws,
regulations, ordinances, rules, judgments, orders, decrees, permits, concessions, grants,
franchises, licenses, agreements or governmental restrictions relating to pollution and the
protection of the environment or the release of any materials into the environment, including but
not limited to those related to hazardous substances or wastes, air emissions and discharges to
waste or public systems.

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to
time, and the rules and regulations promulgated thereunder from time to time in effect.

“ERISA Affiliate” means any trade or business (whether or not incorporated) that is treated as
a single employer together with the Company under section 414 of the Code.

“Event of Default” is defined in Section 11.

“Exchange Act” means the Securities Exchange Act of 1934, as amended.

“Excluded Transfers” is defined in Section 10.7(a).

“Fair Market Value” means, at any time and with respect to any property, the sale value of
such property that would be realized in an arm’s-length sale at such time between an informed and
willing buyer and an informed and willing seller (neither being under a compulsion to buy or sell,
respectively).

“Form 10-Q” is defined in Section 7.1(a).

“Form 10-K” is defined in Section 7.1(b).

“Funded Debt” means with respect to any Person, all Debt which would, in accordance with GAAP,
be required to be classified as a long term liability on the books of such Person, and shall
include, without limitation (a) any Debt which by its terms or by the terms of any instrument or
agreement relating thereto matures, or which is otherwise payable or unpaid, more than one year
from the date of creation thereof, (b) any Debt outstanding under a revolving credit or similar
agreement providing for borrowings (and renewals and extensions thereof) which would, in accordance
with GAAP, be required to be classified as a long term liability of such Person, (c) any
Capitalized Lease Obligation of such Person, and (d) any Guaranty of such Person with respect to
Funded Debt of another Person. Notwithstanding anything to the contrary contained herein, any Debt
outstanding under a revolving credit or similar agreement providing for borrowings where no amount
of such Debt is outstanding for a period of 30 consecutive days during each 12 month period (and
which has not been refinanced with other Debt which does not constitute Funded Debt) will not be
deemed to constitute Funded Debt.

“GAAP” means generally accepted accounting principles as in effect from time to time in the
United States of America.

“Governmental Authority” means

(a) the government of

(i) the United States of America or any State or other political subdivision
thereof, or

(ii) any jurisdiction in which the Company or any Subsidiary conducts all or
any part of its business, or which asserts jurisdiction over any properties of the
Company or any Subsidiary, or

(b) any entity exercising executive, legislative, judicial, regulatory or
administrative functions of, or pertaining to, any such government.

“Guaranty” means, with respect to any Person, any obligation (except the endorsement in the
ordinary course of business of negotiable instruments for deposit or collection) of such Person
guaranteeing or in effect guaranteeing any Debt, dividend or other obligation of any other Person
in any manner, whether directly or indirectly, including (without limitation) obligations incurred
through an agreement, contingent or otherwise, by such Person:

(a) to purchase such Debt or obligation or any property constituting security therefor;

(b) to advance or supply funds (i) for the purchase or payment of such Debt or
obligation, or (ii) to maintain any working capital or other balance sheet condition or any
income statement condition of any other Person or otherwise to advance or make available
funds for the purchase or payment of such Debt or obligation;

(c) to lease properties or to purchase properties or services primarily for the purpose
of assuring the owner of such Debt or obligation of the ability of any other Person to make
payment of the Debt or obligation; or

(d) otherwise to assure the owner of such Debt or obligation against loss in respect
thereof.

In any computation of the Debt or other liabilities of the obligor under any Guaranty, the
Debt or other obligations that are the subject of such Guaranty shall be assumed to be direct
obligations of such obligor.

“Hazardous Material” means any and all pollutants, toxic or hazardous wastes or any other
substances that might pose a hazard to health or safety, the removal of which may be required or
the generation, manufacture, refining, production, processing, treatment, storage, handling,
transportation, transfer, use, disposal, release, discharge, spillage, seepage, or filtration of
which is or shall be restricted, prohibited or penalized by any applicable law (including, without
limitation, asbestos, urea formaldehyde foam insulation and polychlorinated biphenyls).

“holder” means, with respect to any Note, the Person in whose name such Note is registered in
the register maintained by the Company pursuant to Section 13.1, provided, however, that if such
Person is a nominee, the “holder” shall also include the beneficial owner of such Note.

“Hostile Tender Offer” means, with respect to the use of proceeds of any Note, any offer to
purchase, or any purchase of, shares of capital stock of any corporation or equity interests in any
other entity, or securities convertible into or representing the beneficial ownership of, or rights
to acquire, any such shares or equity interests, if such shares, equity interests, securities or
rights are of a class which is publicly traded on any securities exchange or in any
over-the-counter market, other than purchases of such shares, equity interests, securities or
rights representing less than 5% of the equity interests or beneficial ownership of such
corporation or other entity for portfolio investment purposes, and such offer or purchase has not
been duly approved by the board of directors of such corporation or the equivalent governing body
of such other entity prior to the date of the Closing.

“Incorporated Provision” is defined in Section 1.2(e).

“INHAM Exemption” is defined in Section 6.2(e).

“Institutional Investor” means (a) any original purchaser of a Note, (b) any holder of a Note
holding more than 5% of the aggregate principal amount of the Notes then outstanding, and (c) any
bank, trust company, savings and loan association or other financial institution, any pension plan,
any investment company, any insurance company, any broker or dealer, or any other similar financial
institution or entity, regardless of legal form.

“Lien” means, with respect to any Person, any mortgage, lien, pledge, charge, security
interest or other encumbrance, or any interest or title of any vendor, lessor, lender or other
secured party to or of such Person under any conditional sale or other title retention agreement or
Capital Lease, upon or with respect to any property or asset of such Person (including in the case
of stock, stockholder agreements, voting trust agreements and all similar arrangements).

“Make-Whole Amount” is defined in Section 8.7.

“Material” means material in relation to the business, operations, affairs, financial
condition, assets, properties, or prospects of the Company and its Subsidiaries taken as a whole.

“Material Adverse Effect” means a material adverse effect on (a) the business, operations,
affairs, financial condition, assets or properties of the Company and its Subsidiaries taken as a
whole, or (b) the ability of the Company to perform its obligations under this Agreement and the
Notes, or (c) the validity or enforceability of this Agreement or the Notes.

“Memorandum” is defined in Section 5.3.

“Multiemployer Plan” means any Plan that is a “multiemployer plan” (as such term is defined in
section 4001(a)(3) of ERISA).

“NAIC” means the National Association of Insurance Commissioners or any successor thereto.

“NAIC Annual Statement” is defined in Section 6.2(a).

“NCRA” means National Cooperative Refinery Association, a Kansas cooperative association.

“Net Proceeds Amount” is defined in Section 10.7(c).

“Notes” is defined in Section 1.2.

“OFAC” is defined in Section 5.17(a).

“OFAC Listed Person” is defined in Section 5.17(a).

“Officer’s Certificate” means a certificate of a Senior Financial Officer or of any other
officer of the Company whose responsibilities extend to the subject matter of such certificate.

“Ordinary Course Transfer” is defined in Section 10.7(a).

“PBGC” means the Pension Benefit Guaranty Corporation referred to and defined in ERISA or any
successor thereto.

“Person” means an individual, partnership, corporation, limited liability company,
association, trust, unincorporated organization, or a government or agency or political subdivision
thereof.

“Plan” means an “employee benefit plan” (as defined in section 3(3) of ERISA) that is or,
within the preceding five years, has been established or maintained, or to which contributions are
or, within the preceding five years, have been made or required to be made, by the Company or any
ERISA Affiliate or with respect to which the Company or any ERISA Affiliate may have any liability.

“Primary Bank Facility” means an agreement, guaranty or other instrument (or agreements,
guaranties or other instruments to the extent such agreements, guaranties or other instruments were
entered into in concert in one or a series of transactions): (i) entered into by the Company in
connection with the provision of recourse credit in the form of revolving loans, term loans,
letters of credit or other extensions of credit commonly provided under syndicated bank credit
agreements to the Company or any of its Subsidiaries and (ii) under which the aggregate amount of
credit extended (whether in the form of loans or commitments) to the Company or for which the
Company is obligated as a guarantor or otherwise is $150,000,000 or more.

“Priority Debt” means, at any time, without duplication, the sum of

(a) all then outstanding Debt of the Company or any Subsidiary secured by any Lien on
any property of the Company or any Subsidiary (other than Debt secured only by Liens
permitted under paragraphs (a) through (j) of Section 10.6); provided that any CoFina Debt
in an aggregate amount not to exceed $500,000,000 secured by any Lien on any CoFina Loan
Asset, will not be deemed to constitute Priority Debt, plus

(b) all Funded Debt of Subsidiaries of the Company.

“property” or “properties” means, unless otherwise specifically limited, real or personal
property of any kind, tangible or intangible, choate or inchoate.

“Proposed Prepayment Date” is defined in Section 8.2(a).

“PTE” is defined in Section 6.2(a).

“Purchaser” is defined in the introductory paragraph hereof.

“QPAM Exemption” means Prohibited Transaction Class Exemption 84-14 issued by the United
States Department of Labor.

“Qualified Institutional Buyer” means any Person who is a “qualified institutional buyer”
within the meaning of such term as set forth in Rule 144A(a)(1) under the Securities Act.

“Ratable Portion” is defined in Section 10.7(c).

“Reinvested Transfer” is defined in Section 10.7(b).

“Required Holders” means, at any time, the holders of a majority in aggregate principal amount
of the Notes at the time outstanding (exclusive of Notes then owned by the Company or any of its
Affiliates).

“Responsible Officer” means any Senior Financial Officer and any other officer of the Company
with responsibility for the administration of the relevant portion of this Agreement.

“SEC” shall mean the Securities and Exchange Commission of the United States, or any successor
thereto.

“Securities” or “Security” shall have the meaning specified in Section 2(1) of the Securities
Act.

“Securities Act” means the Securities Act of 1933, as amended from time to time.

“Senior Debt” means the Notes and any Debt of the Company or its Subsidiaries that by its
terms is not in any manner subordinated in right of payment to any other unsecured Debt of the
Company or any Subsidiary.

“Senior Financial Officer” means the chief financial officer, principal accounting officer,
treasurer or comptroller of the Company.

“Series” means any one or more Series of Notes issued hereunder or pursuant to any Supplement.

“Series L Notes” is defined in Section 1.1(a).

“Series M Notes” is defined in Section 1.1(b).

“Series N Notes” is defined in Section 1.1(c).

“Series O Notes” is defined in Section 1.1(d).

“Source” is defined in Section 6.2.

“Subsidiary” shall mean, with respect to any Person, any other Person greater than 50% of the
total combined voting power of all classes of Voting Interests of which shall, at the time as of
which any determination is being made, be owned by such first Person either directly or through
other Subsidiaries of such first Person.

“Substantial Portion” is defined in Section 10.7(c).

“Supplement” is defined in Section 1.2.

“Surviving Corporation” is defined in Section 10.2(b)(i).

“SVO” means the Securities Valuation Office of the NAIC or any successor to such Office.

“2011 Notes” is defined in Section 1.1.

“Transfer” is defined in Section 10.7(c)(v).

“USA PATRIOT Act” means United States Public Law 107-56, United and Strengthening America by
Providing Appropriate Tools Required to Intercept and Obstruct Terrorism (USA PATRIOT Act) Act of
2001.

“Voting Interests” shall mean (a) with respect to any stock corporation, any shares of stock
of such corporation whose holders are entitled under ordinary circumstances to vote for the
election of directors of such corporation or persons performing similar functions (irrespective of
whether at the time stock of any other class or classes shall have or might have voting power by
reason of the happening of any contingency), and (b) with respect to the Company or any other
entity, membership or other ownership interests in the Company or such other entity whose holders
are entitled under ordinary circumstances to vote for the election of the directors of the Company
or such other entity or persons performing similar functions (irrespective of whether at the time
membership or other ownership interests of any other class or classes shall have or might have
voting power by reasoning of the happening of any contingency).

“Wholly-Owned Subsidiary” means, at any time, any Subsidiary one hundred percent (100%) of all
of the equity interests (except directors’ qualifying shares) and voting interests of which are
owned by any one or more of the Company and the Company’s other Wholly-Owned Subsidiaries at such
time.

SCHEDULE 4.9

CHANGES IN CORPORATE STRUCTURE

None.

SCHEDULE 5.3

DISCLOSURE MATERIALS

None.SCHEDULE 5.4

SUBSIDIARIES OF THE COMPANY AND OWNERSHIP OF SUBSIDIARY STOCK

DOMESTIC

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Date CHS Interest	 	 	 	 	 	State/	 	Foreign/	 	 	 	State	 	Contributed	 	Investment	 	 	 	 
	Active/ Inactive	 	Name	 	Address	 	Type	 	Business Description	 	Ownership By	 	Division	 	Incorp. Date	 	Acquired	 	Date Dissolved	 	Fiscal End	 	Country of Incorp.	 	Domestic	 	Fed ID #	 	ID #	 	Capital	 	11/30/09	 	 	 	 
	 	 	 	 	 	 	 	 	Lease & operate ADM	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	5500 Cenex Drive	 	 	 	Facilities at Havre	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	PO Box 64089	 	 	 	& Big Sandy, MT and	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	St. Paul,	 	 	 	CHS Facilities at	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	A	 	ADM/CHS, LLC	 	MN 55164	 	LLC	 	Havre & Rudyard, MT	 	55% ADM; 45% CHS	 	Country Operations	 	6/5/2000	 	6/5/2000	 	 	 	31-Dec	 	Delaware	 	D	 	81-0535982	 	 	 	$585,000.00	 	$2,243,041	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	50% CHS, 50%	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	Central Valley Ag	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Advanced Energy	 	1007 County Road O	 	 	 	Energy products	 	Cooperative,	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	A	 	Fuels, LLC	 	Oakland, NE 68045	 	LLC	 	sales and services	 	Nonstock	 	Country Operations	 	10/26/2009	 	10/26/2009	 	 	 	31-Aug	 	Nebraska	 	D	 	27-1989938	 	 	 	$1,200,000.00	 	 	 	 	 	 
	 	 	 	 	5500 Cenex Drive	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Ag States Agency of	 	PO Box 64089	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	A	 	Montana, Inc.	 	St. Paul, MN 55164	 	Corp	 	Insurance Agency	 	100% CHS	 	Business Solutions	 	10/11/1977	 	10/11/1977	 	 	 	31-Dec	 	Montana	 	D	 	81-0372838	 	1504-LLC	 	 	 	 	 	$-	 	8/28/1995	 	 
	 	 	 	 	5500 Cenex Drive	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	A
	 	Ag States Agency,

LLC
	 	PO Box 64089

St. Paul, MN 55164
	 	LLC
	 	Independent

insurance agency

	 	100% by CHS (Eff.

4/21/05)
	 	

Business Solutions
	 	

12/27/1994
	 	

12/27/1994
	 	

	 	

31-Aug
	 	

Minnesota
	 	

D
	 	

41-1795536
	 	

	 	

$7,000,000.00
	 	

$10,329,394
	 	

	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	

	 	

	A
	 	Ag States

Reinsurance

Company, IC
	 	1090 Vermont Avenue

NW

Washingotn, DC

20005
	 	Corp
	 	Cell Captive

Insurer of Impact

Risk Funding, Inc.,

PCC

	 	

100% Impact Risk

Funding, Inc.
	 	

Business Solutions
	 	

8/24/2010
	 	

8/24/2010
	 	

	 	

31-Aug
	 	

Washington DC
	 	

D
	 	

	 	

	 	

	 	

$400,000
	 	

	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	

	 	

	A
	 	Agriliance LLC
	 	5500 Cenex Drive

PO Box 64089

St. Paul, MN 55164

3315 North Oaks

Trafficway Kansas

City, MO 64116
	 	

LLC
	 	

Sale of fertilizer

and agronomy

products

	 	

50% LOL; 50% UCB

(UCB owned 100% by

CHS)
	 	

Ag Business
	 	

1/5/2000
	 	

1/5/2000
	 	

	 	

31-Aug
	 	

Delaware
	 	

D
	 	

41-1961003
	 	

	 	

	 	

$37,381,865
	 	

	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	

	 	

	A
	 	Agro Distribution,

LLC
	 	5500 Cenex Drive

PO Box 64089

St. Paul, MN 55164
	 	LLC
	 	Formed to acquire

various Terra

facilities in 31

states

	 	

100% Agriliance
	 	

Ag Business
	 	

6/4/1999
	 	

6/4/1999
	 	

	 	

31-Aug
	 	

Delaware
	 	

D
	 	

41-1941923
	 	

	 	

$50,000,000 by each

member
	 	

	 	

	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	

	 	

	 	

	A
	 	AgXML, LLC
	 	Suite 2000

666

Grand Avenue

Des Moines, IA

50309-2510
	 	LLC
	 	Organized for the

purpose of

achieving

efficiencies by

establishing

standards for grain

& oilseed

industries in

electronic commerce

	 	

CHS — 1,200

Membership Units
	 	

Ag Business
	 	

4/9/2001
	 	

4/9/2001
	 	

	 	

	 	

Iowa
	 	

D
	 	

42-6619123
	 	

251946
	 	

	 	

	 	

	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	 
	 	 
	 	 
	 	

	 	

	 	

	 	

	A
	 	Allied Agronomy

Limited Liability

Company
	 	P.O. Box 346

Edgeley, North

Dakota 58433
	 	LLC
	 	Agronomy Business

	 	71.72% Allied

Energy and 28.28%

CHS
	 	Country Operations
	 	1/1/2001
	 	1/1/2001
	 	 	 	31-Aug
	 	North Dakota
	 	D
	 	45-045933
	 	 	 	$	312,837.00	 	 	$	1,272,061	 	 	 	 	LLC

Formed

without

Corporate

Office’s Knowledge
	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	A
	 	Battle Creek/CHS,

LLC (d/ba

Progressive

Nutrition)
	 	PO Box 56

Norfolk, NE

68702-0056
	 	LLC
	 	Retail feed business

	 	50% CHS; 50% Battle

Creek Farmers

Cooperative

(Consolidated on

CHS Financials)
	 	

Country Operations
	 	

3/7/2001
	 	

3/7/2001
	 	

	 	

31-Aug
	 	

Delaware
	 	

D
	 	

39-2021496
	 	

	 	

	 	

$730,470
	 	

	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	

	 	

	A
	 	Beverage Franchise

LLC
	 	2120 Third Ave.

No., Billings, MN

59101
	 	LLC
	 	Serves as

franchisor for

Partnered Beverages

LLC

	 	

100% Partnered

Beverages LLC
	 	

Energy
	 	

3/29/2007
	 	

3/29/2007
	 	

	 	

	 	

Montana
	 	

D
	 	

	 	

C167608
	 	

	 	

	 	

	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	 
	 	 	 	 
	 	

	 	

	 	

	 	

	A
	 	CENEX AG, Inc.

(formerly FUCEI-E,

Inc.) We need to

keep this alive

since we still have

a balance sheet due

to environmental

matters
	 	

5500 Cenex Drive

PO Box 64089

St. Paul, MN 55164
	 	

Corp
	 	

Sale of feed and

seed products.

	 	

100% CHS
	 	

	 	

10/23/1974
	 	

10/23/1974
	 	

	 	

31-Aug
	 	

Delaware
	 	

D
	 	

41-1248837
	 	

	 	

	 	

$145,555
	 	

	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 	 	 	

	 	

	A
	 	Cenex Petroleum,

Inc.
	 	5500 Cenex Drive

PO Box 64089

St. Paul, MN 55164
	 	Corp
	 	Retail sales and

distribution of

petroleum and other

related products.

	 	

100% CHS
	 	

Energy
	 	

7/11/1996
	 	

7/11/1996
	 	

	 	

	 	

Minnesota
	 	

D
	 	

41-1847046
	 	

MN 9G-315
	 	

	 	

$1,866,268
	 	

	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 	 	

	 	

63

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	5500 Cenex DrivePO	 	 	 	Operating	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Box 64089St. Paul,	 	 	 	Subsidiary for	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	A	 	CENEX Pipeline, LLC	 	MN 55164	 	LLC	 	pipeline operations	 	100% CHS	 	Energy	 	5/4/1998	 	5/4/1998	 	 	 	 	 	Minnesota	 	D	 	 	 	 	 	 	 	$49,831,214	 	 
	 	 	 	 	 	 	 	 	Owning and	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Highway 191 North	 	 	 	operating a propane	 	CHS 53.38% and	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Central Montana	 	Box 22 Lewistown,	 	 	 	wholesale and	 	Moore Farmers Oil	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	A	 	Propane, LLC	 	Montana59457	 	LLC	 	resale operatintion	 	Company 46.62%	 	Country Operations	 	9/16/1997	 	3/1/2000	 	 	 	31-Aug	 	Montana	 	D	 	81-0513866	 	 	 	 	 	$665,498	 	 
	 	 	 	 	 	 	 	 	Operates locations	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	at Aneta, Coutenay,	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Cooperstown,	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Central Plains Ag	 	PO Box 306, Ulen,	 	 	 	Hannaford, McVille	 	50% CHS; 50%	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	A	 	Services LLC	 	MN 56585	 	LLC	 	and Walum, ND	 	Triangle Ag, LLC	 	Country Operations	 	6/2/2008	 	6/2/2008	 	 	 	31-Jul	 	Minnesota	 	D	 	26-2740740	 	 	 	 	 	$3,522,311	 	 
	 	 	 	 	 	 	 	 	Carrying on a	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	supply business, as	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	a cooperative,	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	engaging in any	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	A
	 	CHS-Hamilton, Inc.
	 	5500 Cenex Drive,

Inver Grove

Heights, MN 55077
	 	Corp
	 	activity or service

in connection with

the sale of crop

inputs, energy

products and

agricultural supply

products

	 	

100% CHS
	 	

Country Operations
	 	

3/14/2011
	 	

3/14/2011
	 	

	 	

31-Aug
	 	

Michigan
	 	

D
	 	

45-0974098
	 	

	 	

	 	

	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	

	 	

	 	

	 	

	A
	 	CHS — Holdrege, Inc.
	 	5500 Cenex Drive,

Inver Grove

Heights, MN 55077
	 	Coop
	 	Carrying on a

supply business, as

a cooperative,

engaging in any

activity or service

in connection with

the sale of crop

inputs, energy

products and

agricultural supply

products

	 	

100% CHS
	 	

Country Operations
	 	

11/14/2008
	 	

11/14/2008
	 	

	 	

31-Aug
	 	

Nebraska
	 	

D
	 	

26-3845820
	 	

	 	

	 	

$26,297
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	CHS Holdings, Inc.
	 	5500 Cenex Drive

PO Box 64089

St. Paul, MN 55164
	 	Corp
	 	Rail at Joliette,

ND; formerly owned

CHS Inc. interest

in Agro

Distribution LLC

	 	

100% CHS
	 	

Country Operations
	 	

4/20/1999
	 	

4/20/1999
	 	

	 	

31-Aug
	 	

Minnesota
	 	

D
	 	

41-1947300
	 	

	 	

$10.00
	 	

$-
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	

	A
	 	CHS Inc.
	 	5500 Cenex Drive

PO Box 64089

St. Paul, MN 55164
	 	Self
	 	Combined

Corporation (Cenex

and HSC)

	 	

100% CHS
	 	

Corporate
	 	

7/15/1936
	 	

7/15/1936
	 	

	 	

	 	

Minnesota
	 	

D
	 	

41-0251095
	 	

MN Corp.
	 	

	 	

	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	 
	 	 
	 	 
	 	

	 	

	 	

	A
	 	CHS-Blackfoot, Inc.
	 	477 West Highway

26, Blackfoot, ID

83221
	 	Corp
	 	Organized to

transact any and

all lawful business

for which

corporations may be

incorporated under

the Idaho Business

Corporations Act.

	 	

100% CHS
	 	

Country Operations
	 	

3/30/2006
	 	

3/30/2006
	 	

	 	

31-Aug
	 	

Idaho
	 	

D
	 	

30-0357896
	 	

	 	

	 	

$4,722,155
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	CHS-Brush, Inc.
	 	5500 Cenex Drive

PO Box 64089

St. Paul,

MN 55164
	 	Corp
	 	Any and all lawful

business of which

corporations may be

incorporated under

the Colorado

Business

Corporations Act

	 	

100% CHS
	 	

Country Operations
	 	

10/9/2007
	 	

10/9/2007
	 	

	 	

31-Aug
	 	

Colorado
	 	

D
	 	

26-1297271
	 	

	 	

	 	

$295,005
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	CHS-Chokio
	 	5500 Cenex Drive

Inver Grove

Heights, MN

55077-2112
	 	

Coop
	 	

	 	

100% CHS
	 	

Country Operations
	 	

7/28/2006
	 	

7/28/2006
	 	

	 	

31-Aug
	 	

Minnesota
	 	

D
	 	

33-1148125
	 	

	 	

	 	

$2,836,831
	 	

	 
	 	 
	 	 
	 	 
	 	
 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	CHS-Corsica
	 	5500 Cenex Drive

Inver Grove

Heights, MN 55077
	 	Coop
	 	Farm Supply

business, as a

cooperative,

engaging in any

activity or service

in connection with

the purchase, sale

and handling of

energy products.

	 	

100% CHS
	 	

Country Operations
	 	

6/25/2007
	 	

6/25/2007
	 	

	 	

31-Aug
	 	

South Dakota
	 	

D
	 	

35-2303251
	 	

	 	

	 	

$1,266,985
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	CHS-Fairdale
	 	5500 Cenex Drive

PO Box 64089

St. Paul, MN 55164
	 	Coop
	 	Engage in any

activity within the

purposes for which

a cooperative may

be organized under

North Dakota

Statute 10-15

	 	

100% CHS
	 	

Country Operations
	 	

8/29/2006
	 	

8/29/2006
	 	

	 	

31-Aug
	 	

North Dakota
	 	

D
	 	

33-1148124
	 	

	 	

	 	

$951,663
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	CHS-Farmco, Inc.
	 	5500 Cenex Drive

PO Box 64089

St. Paul, MN 55164
	 	Corp
	 	Organized to

transact any and

all lawful business

for which

corporations may be

incorporated under

Chapter 17 of the

KSA

	 	

100% CHS
	 	

Country Operations
	 	

3/13/2006
	 	

3/13/2006
	 	

	 	

31-Aug
	 	

Kansas
	 	

D
	 	

61-1501377
	 	

3909926
	 	

	 	

$863,537
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	

	A
	 	CHS-FUCOC
	 	5500 Cenex Drive

P.O. Box 64089

St. Paul, MN

55164-0089
	 	Coop
	 	Organized for the

purpose of carrying

on a supply

business, as a

cooperative,

engaging in any

activity or service

in connection with

the sale of crop

inputs, energy

products and

agricultural supply

products

	 	

100% CHS
	 	

Country Operations
	 	

8/14/2008
	 	

8/14/2008
	 	

	 	

31-Aug
	 	

Minnesota
	 	

D
	 	

26-3210249
	 	

	 	

	 	

$2,154,725
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	 	 	 	 	 	 	 	 	
 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	45-0974098
	 	

	 	

	 	

	 	

	 	 	 	 	 	 	 	 	
 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	

	 	

	 	

	 	

	A
	 	CHS-Hinton Inc.
	 	5500 Cenex Drive,

Inver Grove

Heights, MN 55077
	 	Coop
	 	Carrying on a

supply business, as

a cooperative,

engaging in any

activity or service

in connection with

the sale of crop

inputs, energy

products and

agricultural supply

products

	 	

100% CHS
	 	

Country Operations
	 	

4/8/2009
	 	

5/18/2009
	 	

	 	

	 	

Oklahoma
	 	

D
	 	

26-4708332
	 	

	 	

	 	

$118,505
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	CHS-M&M, Inc.
	 	5500 Cenex Drive

Inver Grove

Heights, MN 55077
	 	

Corp
	 	

	 	

100% CHS
	 	

Country Operations
	 	

3/23/2007
	 	

3/23/2007
	 	

	 	

31-Aug
	 	

Colorado
	 	

D
	 	

20-8704763
	 	

	 	

	 	

$4,213,150
	 	

	 
	 	 
	 	 
	 	 
	 	
 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	CHS-Mitchell
	 	1320 West Havens

Mitchell, SD 57301
	 	Coop
	 	Carrying on a farm

supply business, as

a cooperative,

engaging in any

activity or service

in connection with

the purchase, sale

and handling of

energy products.

	 	

100% CHS
	 	

Country Operations
	 	

4/18/2005
	 	

4/18/2005
	 	

	 	

31-Aug
	 	

South Dakota
	 	

D
	 	

75-3192388
	 	

	 	

	 	

$4,495,748
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	CHS-Napoleon
	 	5500 Cenex Drive

P.O. Box 64089

St. Paul, MN

55164-0089
	 	Coop
	 	Engage in any

activity within the

purposes for which

a cooperative may

be organized under

North Dakota

Statute 10-15

	 	

100% CHS
	 	

Country Operations
	 	

11/21/2007
	 	

11/21/2007
	 	

	 	

31-Aug
	 	

North Dakota
	 	

D
	 	

26-1503181
	 	

	 	

	 	

$1,608,394
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	CHS-Oklee
	 	5500 Cenex Drive

P.O. Box 64089

St. Paul, MN

55164-0089
	 	Coop
	 	Organized for the

purpose of carrying

on a grain and

supply business, as

a coopertive,

engaging in any

activity or service

in connection with

the handling and

marketing of grain,

as well as the sale

of crop inputs and

agricultural supply

products.

	 	

100% CHS
	 	

Country Operations
	 	

2/19/2009
	 	

2/19/2009
	 	

	 	

31-Aug
	 	

Minnesota
	 	

D
	 	

26-4399913
	 	

	 	

	 	

$2,472,967
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	CHS-SLE Land, LLC
	 	278 E. Ravenna

Road, Belle Chasse,

LA 70037
	 	LLC
	 	Owns Tract E-2 in

Plaquemines Parish,

LA

	 	50% CHS; 50% South

Louisiana Ethanol,

LLC
	 	

Ag Business
	 	

7/24/2007
	 	

7/24/2007
	 	

	 	

31-Aug
	 	

Louisiana
	 	

D
	 	

	 	

365-3244K
	 	

	 	

$129,260
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 	 	 
	 	 	 	 
	 	

	A
	 	CHS-St. John, Inc.
	 	5500 Cenex Drive

Inver Grove

Heights, MN 55077
	 	Corp
	 	The transaction of

any and all lawful

business for which

associations may be

ncorporated under

this Chapter.

	 	

100% CHS
	 	

Country Operations
	 	

1/20/2009
	 	

1/20/2009
	 	

	 	

31-Aug
	 	

Washington
	 	

D
	 	

26-4192534
	 	

	 	

	 	

$967,806
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	CHS-SWMN
	 	5500 Cenex Drive

P.O. Box 64089

St. Paul, MN

55164-0089
	 	Coop
	 	Organized for the

purposes of

carrying on a grain

and supply

business, as a

cooperative,

engaging in any

activity or service

in connection with

the handling and

marketing of grain,

as well as the sale

of crop inputs and

agricultural supply

products.

	 	

100% CHS
	 	

Country Operations
	 	

8/14/2008
	 	

8/14/02008
	 	

	 	

31-Aug
	 	

Minnesota
	 	

D
	 	

26-3210249
	 	

	 	

	 	

$3,084,308
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	CHS-Walla Walla,

Inc.
	 	P.O. Box 64089

St. Paul, MN

55164-0089
	 	Coop
	 	Grain and supply

business as a

cooperative

	 	

100% CHS
	 	

Country Operations
	 	

11/27/2007
	 	

11/27/2007
	 	

	 	

31-Aug
	 	

Washington
	 	

D
	 	

26-1715243
	 	

	 	

	 	

$2,770,760
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	CHS-Wallace County,

Inc.
	 	P.O. Box 64089

St. Paul, MN

55164-0089
	 	Corp
	 	The transaction of

any and all lawful

business of which

corporations may be

incorporated under

Chapter 17 of the

Kansas Statutes

Annotated.

	 	

100% CHS
	 	

Country Operations
	 	

2/17/2005
	 	

2/17/2005
	 	

	 	

31-Aug
	 	

Kansas
	 	

D
	 	

43-2079564
	 	

	 	

	 	

$1,846,535
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	CHS-White Lake
	 	P.O. Box 64089

St. Paul, MN

55164-0089
	 	Coop
	 	Carrying on a farm

supply business, as

a cooperative,

engaging in any

activity or service

in connection with

the purchase, sale

and handling of

agronomy and energy

products.

	 	

100% CHS
	 	

Country Operations
	 	

11/3/2008
	 	

11/3/2008
	 	

	 	

31-Aug
	 	

South Dakota
	 	

D
	 	

26-3723196
	 	

	 	

	 	

$1,105,433
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	CHS-Winger
	 	P.O. Box 64089

St. Paul, MN

55164-0089
	 	Coop
	 	Carrying on a grain

and supply

business, as a

cooperative,

engaging in any

activity or service

in connection with

the handling and

marketing of grain,

as well as the sale

of crop inputs and

agricultural suppy

products

	 	

100%CHS
	 	

Country Operations
	 	

4/24/2009
	 	

4/24/2009
	 	

	 	

31-Aug
	 	

Minnestoa
	 	

D
	 	

26-4833913
	 	

	 	

	 	

$626,506
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	Circle Land

Management, Inc.
	 	PO Box 909; Laurel,

MT 59044
	 	Corp
	 	Land Mgt. for

property around

Laurel MT refinery

	 	

100% CHS
	 	

Energy
	 	

5/5/1993
	 	

5/5/1993
	 	

	 	

	 	

Minnesota
	 	

D
	 	

41-1750051
	 	

	 	

	 	

$1,485,328
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	Clear Creek

Transportation, LLC
	 	c/o Marathon Oil

Co. 539 S. Main

Street Findlay,

Ohio 45840
	 	

LLC
	 	

Transporter of

crude oil

	 	

100% NCRA
	 	

Energy
	 	

7/21/1958
	 	

Unknown
	 	

	 	

	 	

Kansas
	 	

D
	 	

	 	

	 	

	 	

	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	 
	 	

	 	

	 	

	 	

	 	

	A
	 	Cofina Financial,

LLC
	 	5500 Cenex Drive

Inver Grove

Heights, MN 55077
	 	LLC
	 	Lending Services

	 	100% CHS (8/31/08);

previously CHS 49%;

Cenex Finance

Association 51%
	 	

Business Solutions
	 	

2/9/2005
	 	

2/9/2005
	 	

	 	

31-Aug
	 	

Minnesota
	 	

D
	 	

20-2409352
	 	

1224194-2
	 	

	 	

$82,721,540
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	

	A
	 	Cofina Funding, LLC
	 	5500 Cenex Drive

Inver Grove

Heights, MN 55077
	 	

LLC
	 	

Lending Services

	 	

100% Cofina

Financial LLC
	 	

Business Solutions
	 	

8/9/2005
	 	

8/9/2005
	 	

	 	

31-Aug
	 	

Delaware
	 	

D
	 	

	 	

	 	

	 	

	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	

	 	

	 	

	 	

	 	

	A
	 	Cofina ProFund LLC
	 	5400 Cenex Drive

Inver Grove Heights,

MN 55077
	 	

LLC
	 	

	 	

100% Cofina

Financial LLC
	 	

Business Solutions
	 	

10/11/2010
	 	

10/11/2010
	 	

	 	

31-Aug
	 	

Minnesota
	 	

D
	 	

	 	

	 	

	 	

	 	

	 
	 	 
	 	 
	 	 
	 	
 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	

	 	

	 	

	 	

	 	

	A
	 	CoGrain
	 	560 W. Grain

Terminal Rd.,

Pasco, WA 99301
	 	Coop
	 	
 
	 	Ritzville Warehouse

Company 7.273%; CHS

54.5%; Pendleton

Grain Growers

1.818%; Odessa

Union Warehouse

Co-op 36.364%
	 	

Country Operations
	 	

9/21/1990
	 	

6/1/1996
	 	

	 	

	 	

Washington
	 	

D
	 	

	 	

	 	

	 	

$25000Invest

$75000Loan
	 	

	 
	 	 
	 	 
	 	 
	 	
 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 
	 	

	A
	 	Colorado Retail

Ventures Services,

L.L.C.
	 	1020 W. Main,

Sterling, CO 80751
	 	LLC
	 	
 
	 	CHS-M&M

Cooperative-18.63%,

CHS-Farmco — 12.2%,

CHS Common

Controlled Entities

30.8%, other
	 	

Country Operations
	 	

1/17/1996
	 	

	 	

	 	

	 	

Colorado
	 	

D
	 	

	 	

	 	

	 	

$1,691,487
	 	

	 
	 	 
	 	 
	 	 
	 	
 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 
	 	

	A
	 	Cooperative

Agronomy Services
	 	110 East Aspen

Avenue, Groton, SD
	 	Coop
	 	Dry and liquid

fertilizer company

(15000 tons)

	 	CHS 23.33 (3500

tons); 4 Seasons

53.33 (8000 tons);

Chelsea 1333 (2000

tons); Ellendale -

10.00 (1500 Tons)
	 	

Ag Business
	 	

	 	

9/4/2007 — CHS

acquired

Agriliances

interest
	 	

	 	

1-Jun
	 	

South Dakota
	 	

D
	 	

	 	

	 	

	 	

$168,498
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 	 	 
	 	 	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 
	 	

	A
	 	Cornerstone Ag, LLC

(Acquired with

merger with Farmco,

Inc. — Tribune, KS)
	 	2148 Country Road

Q, Colby, KS 67701
	 	LLC
	 	Acquisition and

Operation of

Cargill, Inc. grain

origination crop

input, feed & fuel

facilities in

Colby, KS

	 	

CHS (was Farmco,

Inc.) 33.65%,

Cargill 50%,

Frontier Equity

Exchange 16.35%
	 	

Country Operations
	 	

6/1/2000
	 	

11/16/2006
	 	

	 	

31-Jan
	 	

Delaware
	 	

D
	 	

43-1890627
	 	

3237434
	 	

	 	

$4,459,877
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	

	A
	 	Country Hedging,

Inc.
	 	5500 Cenex Drive

PO Box 64089

St. Paul, MN 55164
	 	Corp
	 	Full service

commodity futures

and option

brokerage

	 	

100% CHS
	 	

Business Solutions
	 	

8/20/1986
	 	

8/20/1986
	 	

	 	

31-Aug
	 	

Delaware
	 	

D
	 	

41-1556399
	 	

	 	

	 	

$875,000
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	Crestline Crop

Nutrients LLC
	 	2025 W State Street

Fremont, OH 43420
	 	LLC
	 	Fertilizer

warehousing,

handling and

distribution

services.

	 	

     % CHS;       

Sunrise

Cooperative, Inc.
	 	

Crop Nutrients
	 	

12/16/2010
	 	

12/16/2010
	 	

	 	

	 	

Ohio
	 	

D
	 	

	 	

1983481
	 	

	 	

	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	 
	 	 	 	 
	 	

	 	

	 	

	A
	 	Dakota Agronomy

Partners, L.L.C.
	 	2550 Valley Street

Minot, ND 58701
	 	LLC
	 	An agronomy LLC

that includes our

SunPrairie Grain

division (Minot)

and 1 local coops

	 	50% CHS (Sun

Prairie Grain), 50%

FUOC Minot

(consolidated on

CHS financials)
	 	

Country Operations
	 	

2/1/1999
	 	

2/1/1999
	 	

	 	

31-Dec
	 	

North Dakota
	 	

D
	 	

45-0452261
	 	

	 	

	 	

$2,808,199
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	Dakota Quality

Grain Cooperative,

LLC
	 	5500 Cenex Drive

Inver Grove

Heights, MN 55077
	 	LLC
	 	Ag business;

selling crop inputs

and marketing grain

	 	50% CHS; 50% Dakota

Quality Grain

Cooperative
	 	

Business Solutions
	 	

4/10/2006
	 	

4/10/2006
	 	

	 	

	 	

Minnesota
	 	

D
	 	

20-4830381
	 	

1795977-2
	 	

	 	

$3,240,000
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	

	A
	 	Energy Partners, LLC
	 	4570 N. Reserve

Street Missoula, MT

59808
	 	LLC
	 	Joint Venture

related to energy

	 	50% CHS; 50%

Missoula Electric

Cooperative
	 	

Country Operations
	 	

8/28/2000
	 	

8/28/2000
	 	

	 	

31-Aug
	 	

Montana
	 	

D
	 	

81-0535898
	 	

	 	

$1,700,000.00
	 	

$3,259,557
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	

	A
	 	Fin-Ag, Inc.
	 	4001 South Westport

Avenue

P.O. Box 88808

Sioux Falls, SD

57105
	 	Corp
	 	Provides cattle

feeding and swine

financing loans;

facility financing

loans; crop

production loans,

and consulting

services

	 	

100% CHS
	 	

Country Operations
	 	

12/17/1987
	 	

12/17/1987
	 	

	 	

31-Aug
	 	

South Dakota
	 	

D
	 	

46-0398764
	 	

	 	

	 	

$150,000
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	Five Valleys Gas

Company
	 	5500 Cenex Drive

PO Box 64089

St. Paul, MN 55164
	 	Corp
	 	formed to acquire

and operate the

assets of Seeley

Lake Gas

Company(propane

Fuel Sales) in

Seeley Lake, MT

	 	

Energy Partners,

LLC (CHS owns 50%

of Energy Partners)
	 	

Country Operations
	 	

11/15/2002
	 	

11/15/2002
	 	

	 	

31-Aug
	 	

Montana (was a MN

corporation prior

to this)
	 	

D
	 	

41-1943236
	 	

	 	

	 	

	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	

	 	

	 	

	 	

	A
	 	Front Range

Pipeline, LLC
	 	5500 Cenex Drive

PO Box 64089

St. Paul, MN 55164
	 	LLC
	 	To own and operate

the Front Range

Pipeline

	 	

100% CHS
	 	

Energy
	 	

3/23/1999
	 	

3/23/1999
	 	

	 	

	 	

Minnesota
	 	

D
	 	

41-1935715
	 	

	 	

	 	

$54,337,365
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	Genetic Marketing

Group, LLC
	 	29768 S.R. 231

North Reardon, WA

99029
	 	LLC
	 	Seed Partner with

BASF;

	 	Pendleton Grain

Growers, Inc.,

Central Washington

Grain Growers,

Inc.,Cooperative

Agricultural

Produces, Inc.,

Reardon Seed

Company, Inc.,

Primeland

Cooperatives a div.

Of CHS, Mid

Columbia Producers,

Inc, and Northwest

Grain Growers, Inc.

(each own 14.286%)
	 	

Country Operations
	 	

1/18/2002
	 	

	 	

	 	

31-Dec
	 	

Washington
	 	

D
	 	

91-2173968
	 	

	 	

	 	

$21,231
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	Green Bay Terminal

Corporation
	 	c/o Marathon Oil

Co. 539 S. Main

Street Findlay,

Ohio 45840
	 	

Corp
	 	

Terminal storage

facility for

petroleum

	 	

CHS — 33.3%; 66%

Marathon
	 	

Energy
	 	

2/24/1953
	 	

2/24/1953
	 	

	 	

31-Dec
	 	

Wisconsin
	 	

D
	 	

	 	

	 	

$90,000.00
	 	

$387,276
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	 
	 	

	A
	 	Horizon Milling L.P.
	 	15407 McGinty Road

West

Wayzata, MN 55391
	 	Limited Part.
	 	Cross border

trading between US

and Canada of wheat

flour and

byproducts

	 	24% CHS Inc.

(limited partner);

75% Cargill Flour,

Inc. (limited

partner); 1%

Cargill Flour, Inc.

(general partner)
	 	

Processing
	 	

9/22/2006
	 	

9/22/2006
	 	

	 	

31-May
	 	

Delaware
	 	

D
	 	

	 	

	 	

	 	

IncludedinHorizonMillingGP
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 
	 	

	A
	 	Horizon Milling, LLC
	 	15407 McGinty Road

West

Wayzata, MN 55391
	 	

LLC
	 	

Flour Milling joint

venture

	 	

24% CHS

76% Cargill
	 	

Processing
	 	

12/19/2001
	 	

12/19/2001
	 	

	 	

	 	

Delaware
	 	

D
	 	

	 	

	 	

	 	

$49,940,295
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 
	 	

	A
	 	Impact Risk Funding

Inc., PCC
	 	1090 Vermont Avenue

NW

Washingotn, DC

20005
	 	

Corp
	 	

Captive Insurance

Company

	 	

100% Ag States

Agency, LLC
	 	

Business Solutions
	 	

8/24/2010
	 	

8/24/2010
	 	

	 	

31-Aug
	 	

Washington DC
	 	

D
	 	

	 	

	 	

	 	

$400,000
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 
	 	

	A
	 	Impact Risk

Solutions, LLC
	 	5500 Cenex Drive,

Inver Grove

Heights, MN 55077
	 	

LLC
	 	

Insurance agency

	 	

100% Ag States

Agency
	 	

Business Solutions
	 	

6/20/2007
	 	

6/20/2007
	 	

	 	

31-Aug
	 	

Minnesota
	 	

D
	 	

26-0390110
	 	

	 	

	 	

$(3,980,728)
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	Imperial Valley

Terminal, LLC
	 	5500 Cenex Drive,

Inver Grove

Heights, MN 55077
	 	LLC
	 	Grain storage and

handling.

	 	50% CHS, 50%

Sunrise Ag Service

Company
	 	

Ag Business
	 	

3/14/2007
	 	

3/14/2007
	 	

	 	

	 	

Illinois
	 	

D
	 	

45-0555333
	 	

	 	

	 	

$2,279,008
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	La Canasta of

Minnesota, Inc.
	 	5500 Cenex Drive,

Inver Grove

Heights, MN 55077
	 	Corp
	 	Sold assets 5/31/05

to Gruma. Still

own company

	 	Acquired with

Sparta Foods,

wholly owned

subsidiary of

Sparta Foods
	 	

Processing
	 	

11/18/1980
	 	

6/1/2000
	 	

	 	

	 	

Minnesota
	 	

D
	 	

	 	

	 	

	 	

$-
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 
	 	

	A
	 	Latty Grain, Ltd
	 	 	 	Invest
	 	Crop Nutrients

storage and

handling facility

	 	Acquired 40% of the

Membership interest

on 8/31/09
	 	

Wholesale Crop

Nutrients
	 	

	 	

8/31/2009
	 	

	 	

	 	

Ohio
	 	

D
	 	

	 	

	 	

$1,200,000.00
	 	

$1,200,000
	 	

	 
	 	 
	 	 	 	 
	 	 

	 	 
	 	 
	 	 	 	 
	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 
	 	 
	 	

	A
	 	Marshall Insurance

Agency, Inc.
	 	5500 Cenex Driver

Inver Grove Heights

MN 55077
	 	

Corp
	 	

Insurance Agency

	 	

100% CHS
	 	

Country Operations
	 	

4/1/2005
	 	

4/1/2005
	 	

	 	

	 	

Minnesota
	 	

D
	 	

83-0428017
	 	

	 	

	 	

$-
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	Midwest Ag

Supplements, LLC
	 	5500 Cenex Drive

PO Box 64089

St.

Paul, MN 55164
	 	

LLC
	 	

	 	

CHS Inc. 50%, Form

A Feed-25%, John

Pollock 25%
	 	

Country Operations
	 	

7/13/2010
	 	

7/13/2010
	 	

	 	

31-Aug
	 	

Minnesota
	 	

D
	 	

27-3096794
	 	

	 	

	 	

	 	

	 
	 	 
	 	 
	 	 
	 	
 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	

	 	

	 	

	 	

	A
	 	Millennium Seeds

USA, LLC
	 	5500 Cenex Drive

PO Box 64089

St.

Paul, MN 55164
	 	LLC
	 	Engage in the

business of

testing, producing

and marketing

hybrid sunflower

seeds

	 	

50% Seeds 2000 50%

CHS Inc.

(consolidated on

CHS financials)
	 	

Country Operations
	 	

8/10/2009
	 	

8/10/2009
	 	

	 	

	 	

Delaware
	 	

D
	 	

27-1110737
	 	

	 	

	 	

$25,000
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	Morgan County

Investors LLC
	 	405 E. Edison,

Brush, CO 80723
	 	LLC
	 	Any legal and

lawful purpose

pursuant to the

Colorado Limited

Liabiity Company

Act

	 	

50% CHS; 50: Howard

Wickham
	 	

Country Operations
	 	

10/18/2002
	 	

3/25/2008
	 	

	 	

	 	

Colorado
	 	

D
	 	

06-1652477
	 	

	 	

$75,000.00
	 	

$17,972
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	

	A
	 	Mountain Country,

LLC
	 	PO Box 459,

Rexburg, iD 83440
	 	LLC
	 	Supplying retail

propane & related

services in Idaho,

Wy, and MT

	 	

CHS 50%, Valley

Wide Coop, Inc. 50%
	 	

Country Operations
	 	

7/29/1999
	 	

8/30/2006
	 	

	 	

31-Aug
	 	

Idaho
	 	

D
	 	

82-0513938
	 	

	 	

	 	

$536,298
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	Mountain View of

Montana LLC
	 	5500 Cenex Drive

PO Box 64089

St. Paul MN

55164
	 	LLC
	 	Construct, own and

lease to Mountain

View Co-op an

elevator facility

in Teton County, MT

	 	

51% — MVC; 49% CHS
	 	

Ag Business
	 	

9/19/2000
	 	

9/18/2000
	 	

	 	

30-Jun
	 	

Delaware
	 	

D
	 	

41-1984143
	 	

	 	

$9,800(CHS)
	 	

$1,496,657
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	

	A
	 	National

Cooperative

Refinery

Association (NCRA)
	 	2000 South Main

Mcpherson, KS 67460

(620) 241-2340
	 	Corp.
	 	Manufacturer,

marketing, and

wholesale

distribution of

petroleum products.

	 	

CHS — 74.5%, 25.5

Growmark and MFA
	 	

Energy
	 	

7/7/1943
	 	

7/7/1943
	 	

	 	

30-Sep
	 	

Kansas
	 	

D
	 	

48-0348003
	 	

	 	

$41,349,902.00
	 	

$687,999,895

(450,449)

ProfinInvt
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	

	A
	 	Norick Risk Funding

Concepts, LLC
	 	 	 	LLC
	 	Soliciting and

providing insurance

coverage, risk

management services

and alternative

funding concepts

for commercial

business.

	 	

Norick, Inc. 50%;

CHS Inc. 50%
	 	

Business Solutions
	 	

5/6/2004
	 	

5/6/2004
	 	

	 	

31-Aug
	 	

Minnesota
	 	

D
	 	

20-2642040
	 	

	 	

	 	

$1,860,029
	 	

	 
	 	 
	 	 	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	Northern Illinois

Co-op Alliance, LLC
	 	5500 Cenex Drive

Inver Grove

Heights, MN 55077
	 	LLC
	 	
 
	 	CHS; Elburn

Co-operative

Company
	 	

Grain Marketing
	 	

3/24/2006
	 	

3/24/2006
	 	

	 	

	 	

Illinois
	 	

D
	 	

	 	

	 	

	 	

$-
	 	

	 
	 	 
	 	 
	 	 
	 	
 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 
	 	

	A
	 	Northern Montana

Oil Spill

Cooperaive, LLC
	 	PO Box 909; Laurel,

MT 59044
	 	LLC
	 	Purpose to to make

available

materials,

equipment, response

locations and

information to

members

	 	

Front Range

Pipeline is one of

4 members in the

LLC
	 	

Energy
	 	

12/11/2002
	 	

	 	

	 	

	 	

Montana
	 	

D
	 	

	 	

	 	

	 	

	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 
	 	 
	 	

	 	

	 	

	 	

	 	

	A
	 	Northwest Iowa

Agronomy, LLC
	 	1505 Midwest

Avenue, Alton, IA

51003
	 	LLC
	 	Purpose is to own

and operative a

wholesale/retail

crop nutrient

facility

	 	CHS 34.3%, Midwest

Farmers Coop

(20.4%), Farmers

Coop Society (17%),

Farmers Elevator

Coop (16.2%),

Farmers Cooperative

Co (12.1%)
	 	

Wholesale Crop

Nutrients
	 	

8/6/2004
	 	

9/4/2007 CHS

acquired

Agriliance’s

interest
	 	

	 	

	 	

Iowa
	 	

D
	 	

11-3724349
	 	

	 	

	 	

$271,238
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	Partnered

Beverages, LLC
	 	5500 Cenex Drive

Inver Grove

Heights, MN 55077
	 	LLC
	 	Sale of coffee

through Mountain

Mud stores

	 	75% CHS, 25%

Seaside Properties,

LLC 100% CHS eff.

3/31/08
	 	

Energy
	 	

10/11/2006
	 	

10/11/2006
	 	

	 	

31-Aug
	 	

Minnesota
	 	

D
	 	

20-5706238
	 	

	 	

	 	

$(2,706,373)
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	PGG/HSC Feed

Company, L.L.C.
	 	300 West Feedville

Road

Hermiston, OR 97838
	 	LLC
	 	Feed Manufacturer

	 	80% — CHS and 20%

Pendleton Grain

Growers
	 	

Country Operations
	 	

10/26/1994
	 	

10/26/1994
	 	

	 	

31-May
	 	

Oregon
	 	

D
	 	

93-1156470
	 	

	 	

$0.00
	 	

$1,021,068
	 	

7/10/2000
	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	A
	 	PLC Insurance

Agency, Inc.
	 	5500 Cenex Drive

Inver Grove

Heights, MN

55077-2112
	 	

Corp.
	 	

Insurance Sales

	 	

100% CHS
	 	

Country Operations
	 	

9/30/2009
	 	

9/30/2009
	 	

	 	

	 	

Minnesota
	 	

D
	 	

27-1031913
	 	

	 	

	 	

	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	 
	 	 
	 	

	 	

	 	

	 	

	A
	 	Pro-Tect Insurance

Agency, LLC
	 	5500 Cenex Drive

Inver Grove

Heights, MN

55077-2112
	 	

LLC
	 	

Insurance Agency

	 	

50% CHS Inc, 50% Ag

Insurance Services,

Inc.
	 	

Country Operations
	 	

4/1/2005
	 	

4/1/2005
	 	

	 	

31-Aug
	 	

Minnesota
	 	

D
	 	

83-0428019
	 	

	 	

	 	

$-
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	Provista Renewable

Fuels Marketing,

LLC
	 	5500 Cenex Drive

Inver Grove

Heights, MN 55077
	 	LLC
	 	Biofuels marketing

joint venture

	 	100% CHS (Eff.

4/1/08) Prior

ownership was 50% -

CHS; 50% US

BioEnergy

Corporation
	 	

Energy
	 	

11/4/2003
	 	

3/31/2006
	 	

	 	

31-Aug
	 	

Kansas
	 	

D
	 	

20-0364520
	 	

	 	

	 	

IncludedinEnergyDivision
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	Quality Farm and

Ranch Center, LLC
	 	700 E. 8th Ave.,

Yuma, CO 80759
	 	LLC
	 	Acquired ownership

via merger w M&M

3/3/07

	 	50% CHS-M&M, 50%

Quality Investment

Group, LLC
	 	

Country Operations
	 	

10/17/2003
	 	

8/28/2007
	 	

	 	

31-Dec
	 	

Colorado
	 	

D
	 	

42-1606221
	 	

	 	

$991,568.00
	 	

$1,160,895
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	

	A
	 	Red Rock

Cooperative

Association
	 	

Country Operations

file
	 	

Coop
	 	

contract feeder

	 	

31.68% CHS
	 	

Country Operations
	 	

10/26/1999
	 	

10/26/1999
	 	

	 	

31-Dec
	 	

South Dakota
	 	

D
	 	

46-0454249
	 	

	 	

$135,000.00
	 	

$-
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	

	A
	 	Russell Consulting

Group, L.L.C.
	 	11146 Q Street,

Omaha, NE 68137
	 	LLC
	 	to provide

agricultural

consulting to

customers

	 	As of 12/15/10

Country Hedging,

Inc. owns 2/3 ,

Russell Consulting,

Inc. owns 1/3, J&J

Cattle Co. each

owning 33 1/3 %

shares
	 	

Business Solutions
	 	

12/30/1999
	 	

6/29/2007
	 	

	 	

31-Dec
	 	

Nebraska
	 	

D
	 	

	 	

	 	

	 	

$1,313,407
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 
	 	

	A
	 	Southwest Crop

Nutrients, LLC
	 	710 West Trail,

Dodge City, Kansas

67801
	 	LLC
	 	to own and operate

a wholesale/retail

crop nutrient

facility on

property located at

Ensign, KS

	 	CHS 58.6025%, Dodge

City Coop Exchange

33.33%, The Plains

Equity Exchange and

Co-operative Union

3.2258%, The

Elkhart Cooperative

1.6129%, The

Offerle Cooperative

Grain and Supply Co

1.6129%, Sublette

Cooperative 1.6129%
	 	

Wholesale Crop

Nutrients
	 	

9/9/2004
	 	

9/4/2007 CHS

acquired

Agriliance’s

interest
	 	

	 	

	 	

Kansas
	 	

D
	 	

20-1074703
	 	

	 	

	 	

$153,506
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	Sparta Foods, Inc.

(Keep active

through 8/31/11 to

make sure any

potential claims

have surfaced)
	 	

920 Second Avenue

South, Suite 1100,

Minneapolis, MN

55402
	 	

Corp
	 	

Production and

distribution of

tortilla and

value-added

tortilla products

	 	

100% CHS (Acquired

Stock 6/1/00).

Sold assets to

Gruma 5/31/05.
	 	

Corporate
	 	

7/7/1988
	 	

6/1/2000
	 	

	 	

	 	

Minnesota
	 	

D
	 	

41-1618240
	 	

	 	

$2,624,875.00
	 	

$-
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	

	A
	 	St. Hilaire Ag

Insurance, Inc.
	 	Box 128, St.

Hilaire, MN 56754
	 	

Corp
	 	

Insurance Company

	 	

100% CHS
	 	

Country Operations
	 	

2/20/1990
	 	

8/9/1996
	 	

	 	

	 	

Minnesota
	 	

D
	 	

41-1659238
	 	

	 	

	 	

	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	 
	 	 
	 	

	 	

	 	

	 	

	A
	 	St. Paul Maritime

Corporation
	 	 	 	Corp
	 	Company provides

stevedoring

services at Myrtle

Grove Terminal, and

charters vessels.

	 	

100% CHSC
	 	

Ag Business
	 	

8/18/1995
	 	

8/18/1995
	 	

	 	

31-Aug
	 	

Minnesota
	 	

D
	 	

	 	

	 	

	 	

$-
	 	

	 
	 	 
	 	 	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 
	 	

	A
	 	TEMCO, LLC
	 	222 SW Columbia

Street

Koin Tower, Suite

1100

Portland, OR 97201
	 	

LLC
	 	

Export of feed

grains and oilseeds

	 	

50%-CHS, 50% Cargill
	 	

Ag Business
	 	

9/15/1992;

Converted from a WA

Ptsp to a DE LLC

8/26/02
	 	

9/15/1992
	 	

	 	

31-May
	 	

Delaware
	 	

D
	 	

93-1092741
	 	

	 	

$2,093,301.00
	 	

$36,491,553
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	

	A
	 	The Farmer’s

Elevator Company of

Lowder
	 	5500 Cenex Drive

PO Box 64089

St. Paul,

MN 55164
	 	Corp
	 	CHS-Lowder, Inc.

merged into The

Farmer’s Elevator

Company of Lowder

	 	

100% CHS
	 	

Country Operations
	 	

12/20/1905
	 	

8/9/2010
	 	

	 	

	 	

Illinois
	 	

D
	 	

37-0268925
	 	

	 	

	 	

	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	 
	 	 
	 	

	 	

	 	

	 	

	A
	 	The Purchasing

Group, LLC
	 	101 S. Detroit

Yuma, CO
	 	LLC
	 	Acquired via merger

with M&M 3/3/07

	 	25% CHS, 25%

Stratton Equity

Coop, 25% Frontier

Equity, 25% Stones

Farm Supply
	 	

Country Operations
	 	

1/9/2003
	 	

8/28/2007
	 	

	 	

31-Aug
	 	

Colorado
	 	

D
	 	

48-1293486
	 	

	 	

	 	

$1,000
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	United Country

Brands LLC
	 	5500 Cenex Drive

PO Box 64089

St. Paul, MN 55164

and 3315 North Oak

Trafficway Kansas

City, MO 64116
	 	

LLC
	 	

Holding Company for

membership

interests in

Agriliance LLC

	 	

100% CHS
	 	

Ag Business
	 	

1/5/2000
	 	

1/5/2000
	 	

	 	

31-Aug
	 	

Delaware
	 	

D
	 	

41-1961040
	 	

	 	

	 	

IncludedinAgriliance
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	United Harvest, LLC
	 	200 Southwest

Market Street

Suite 1780

Portland, OR

97201-6281
	 	LLC
	 	To lease and

operate the

Vancouver, Kalama

and other grain

elevators and

facilities; to

purchase, sell and

export wheat and

other grain

	 	

50% CHS 50% United

Grain Corp.
	 	

Ag Business
	 	

8/14/1998
	 	

8/14/1998
	 	

	 	

31-Aug
	 	

Delaware
	 	

D
	 	

93-1252385
	 	

	 	

$125,000.00
	 	

$8,909,479
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	

	A
	 	Ventura Foods LLC
	 	14840 E. Don Julian

Boulevard

Industry, CA 91746
	 	

JV
	 	

Food processing and

packaging

	 	

50% CHS; 50% Mitsui

& Co.
	 	

Processing
	 	

7/15/1996
	 	

7/15/1996
	 	

	 	

31-Dec
	 	

Delaware
	 	

D
	 	

95-4589254
	 	

	 	

$38,490,680.00
	 	

$251,702,844
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	

	A
	 	Wabash Valley

Grain, LLC
	 	5500 Cenex Drive

Inver Grove Hgts,

MN 55077

901 North Main

Street

Huntingburg, IN

47542
	 	

LLC
	 	

Procurement and

marketing of grain

(primarily corn and

soybeans)

	 	

50% CHS; 50%

Superior Ag

Resources CO-OP,

Inc.
	 	

Ag Business
	 	

8/4/2008
	 	

8/4/2008
	 	

	 	

31-Aug
	 	

Indiana
	 	

D
	 	

26-4775576
	 	

	 	

$4,000,000.00
	 	

$3,951,860
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	

	A
	 	Western Feed, LLC
	 	Western Feed, LLC 

P.O. Box 426 

Morrill, NE  69358
	 	LLC
	 	Feed Business

	 	50% CHS; 50%

Western Cooperative

Company
	 	

Country Operations
	 	

2/28/2008
	 	

2/28/2008
	 	

	 	

	 	

Minnesota
	 	

D
	 	

26-2111198
	 	

	 	

	 	

$750,000
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	

	A
	 	Western Kansas

Liquid Fertilizer

Terminal
	 	Midwest

Cooperative, 2nd

and Gove, P.O. Box

366, Quinter, Gove

County, KS 67752
	 	JV
	 	To jointly own and

operate a liquid

fertilizer storage

plant

	 	25% Decatur

Cooperative

Association, 25%

Cooperative

Agricultural

Services, Inc., 25%

Midwest

Cooperative, and

25% CHS Wallace

County
	 	

Country Operations
	 	

Joint venture

formed 10-3-98.

CHS acquired this

on 9-7-05 as part

of the CHS Wallace

County merger
	 	

9/7/2005
	 	

	 	

	 	

Kansas
	 	

D
	 	

	 	

	 	

	 	

	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	 
	 	

	 	

	 	

	 	

	 	

	A
	 	Whitesville Crop

Nutrients LLC
	 	3997 E. Ladoga

Road,

Crawfordsville, IN

47933
	 	LLC
	 	to engage in the

business of storage

and handling of

agriculture

products

	 	

Ceres Solutions,

LLP 68%, CHS Inc.

32%
	 	

Wholesale Crop

Nutrients
	 	

12/1/2010
	 	

12/1/2010
	 	

	 	

	 	

Indiana
	 	

D
	 	

	 	

	 	

	 	

	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	 
	 	

	 	

	 	

	 	

	 	

	A
	 	WHYHAP Properties,

LLC
	 	1020 W Main Street,

Sterling, CO 80751
	 	LLC
	 	Acquired ownership

via merger w M&M

3/3/07

	 	33.33% CHS-M&M, 50%

Grainland Co-op,

16.67% Peetz

Farmers Coop
	 	

Country Operations
	 	

6/23/2000
	 	

8/28/2007
	 	

	 	

30-Jun
	 	

Colorado
	 	

D
	 	

	 	

	 	

	 	

$52,384
	 	

	 
	 	 
	 	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 
	 	

64

FOREIGN

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	Date CHS Interest	 	 	 	State/	 	Foreign/	 	 	 	 	 	 	 	 
	Active/ Inactive	 	Name	 	Address	 	Type	 	Business Description	 	Ownership By	 	Division	 	Incorp. Date	 	Acquired	 	Fiscal End	 	Country of Incorp.	 	Domestic	 	Fed ID #	 	State ID #	 	Contributed Capital	 	Investment 11/30/09
	 	 	 	 	Avenue des Morgines 12	 	 	 	Swiss project company	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	CHF 6'130'000	 	 
	 	 	 	 	1213 Petit-Lancy/	 	 	 	involved in the	 	50% CHS Europe SA;	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	(Equiv.	 	 
	A	 	ACG Trade S.A.	 	Switzerland	 	Corp.	 	Agrico Project	 	50% Agrico	 	Ag Business	 	5/15/2009	 	5/15/2009	 	31-Aug	 	Switzerland	 	F	 	CH-660-115000977	 	 	 	$5,873,536.07)	 	$89,320
	 	 	 	 	Flat/office 205,	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Chanteclair Building,	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	2nd Floor, 2 Sofouli	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Street, 1096 Nicosia,	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	A	 	Agri Point Ltd.	 	Cyprus	 	Corp.	 	 	 	100% CHS Europe SA	 	Ag Business	 	 	 	1/10/2011	 	 	 	Republic of Cyprus	 	F	 	HE 40301	 	 	 	 	 	 
	 	 	 	 	114/1, Starokubanskaya	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	Ulitsa	 	 	 	Russian Operating	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Agromarket Export	 	Krasnodar, 350058,	 	 	 	Company involved in	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	A	 	Krasnodar	 	Russian Federation	 	LLC	 	the Agrico Project	 	100% Oregana	 	Ag Business	 	3/24/2009	 	12/22/2009	 	31-Dec	 	Russian Federation	 	F	 	1092312002122	 	 	 	$294.00	 	 
	 	 	 	 	93, Prospekt K. Marksa,	 	 	 	Russian Operating	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	A
	 	Agromarket Export

Stavropol
	 	Stavropol, 355006,

Russian Federation

	 	LLC
	 	Company involved in

the Agrico Project
	 	

100% Oregana
	 	

Ag Business
	 	

3/24/2009
	 	

12/22/2009
	 	

31-Dec
	 	

Russian Federation
	 	

F
	 	

1092635003636
	 	

	 	

$294.00
	 	

	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	

	A
	 	Agromarket Servis

LLC
	 	11, Rubin Ulitsa

Novorossiysk,

Krasnodarsky

Krai, 353900, Russian

Federation

	 	

LLC
	 	

Russian Operating

Company involved in

the Agrico Project
	 	

70% Agromarket

Export Krasnodar;

30% Agromarket LLC
	 	

Ag Business
	 	

6/29/2009
	 	

12/22/2009
	 	

31-Dec
	 	

Russian Federation
	 	

F
	 	

1092642000208
	 	

	 	

$322.00
	 	

	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	

	A
	 	Agromarket, LLC
	 	11, Rubin Ulitsa

Novorossiysk,

Krasnodarsky

Krai, 353900, Russian

Federation

	 	

LLC
	 	

Russian Operating

Company involved in

the Agrico Project
	 	

100% Aktican

Holdings, Ltd.
	 	

Ag Business
	 	

3/24/2009
	 	

12/22/2008
	 	

31-Dec
	 	

Russian Federation
	 	

F
	 	

1092315001404
	 	

	 	

$294.00
	 	

	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	

	A
	 	Aktican Holdings,

Ltd.
	 	Egypt St. 12 P.C. 1097

Nicosia, Cyprus

	 	Corp
	 	Part of Agrico Project
	 	50% CHS Europe SA;

50% Agrico or

Martinico
	 	

Ag Business
	 	

	 	

	 	

	 	

Republic of Cyprus
	 	

F
	 	

HE 261993
	 	

	 	

Pending
	 	

	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 
	 	 
	 	 
	 	 	 	 
	 	

	A
	 	CHS (Shanghai)

Trading Co., Ltd.
	 	Room 6K

New Shanghai

International Tower,

No. 360

South Pudong Road

Shanghai, China

	 	Corp
	 	Import, export,

wholesale and

commission agency

service (exclusive of

auction) of cereals,

oil seeds and

oleaginous fruits,

animal or vegetable

fats and oils and

their cleavage

products, prepared

edible fats and oils,

sugars, ethanol,

residues and waste

from the food

industries, cotton

and fertilizers.
	 	

100% CHS Hong Kong

Limited
	 	

Ag Business
	 	

1/6/2009
	 	

1/6/2009
	 	

	 	

China
	 	

F
	 	

	 	

	 	

$2,000,000.00
	 	

$-
	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 	 	 	 	 
	 	 
	A
	 	CHS Agritrade

Bulgaria EOOD
	 	16, Fr. Jolio Kuriy

Str. Block 155, 2nd

floor, apt 16, Iztok

district, 1113 Sofia,

Bulgaria

	 	

Corp
	 	

	 	

100% CHE Europe SA
	 	

Ag Business
	 	

	 	

	 	

	 	

Sofia, Bulgari
	 	

F
	 	

	 	

	 	

	 	

	 
	 	 
	 	 

	 	 
	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 
	 	 
	 	

	 	

	 	

	 	

	A
	 	CHS Agritrade

Hungary Ltd.
	 	H-1011 Budapest, Fo

utca 14-18, Hungary

	 	

	 	

	 	

100% CHS Europe SA
	 	

Ag Business
	 	

	 	

	 	

	 	

Budapest, Hungary
	 	

F
	 	

Cg.01-09-164850
	 	

	 	

	 	

	 
	 	 
	 	 

	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 
	 	 
	 	 
	 	

	 	

	 	

	A
	 	CHS Agritrade

Romania SRL
	 	Piata Romana Nr. 5, et.

1, Section 1,

Bucuresti, Romania

	 	

	 	

	 	

100% CHS Europe SA
	 	

Ag Business
	 	

	 	

	 	

	 	

Bucharest, Romania
	 	

F
	 	

J40/10617/29.10.2009
	 	

	 	

	 	

	 
	 	 
	 	 

	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 
	 	 
	 	 
	 	

	 	

	 	

	A
	 	CHS Agritrade

Serbia D.O.O.
	 	Francuska 6, Belgrade,

Serbia

	 	

	 	

	 	

100% CHS Europe SA
	 	

Ag Business
	 	

	 	

	 	

	 	

Novi Sad, Servia
	 	

F
	 	

	 	

	 	

	 	

	 
	 	 
	 	 

	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 
	 	 
	 	

	 	

	 	

	 	

	A
	 	CHS Canada, Inc.
	 	80 Dufferin Avenue

London, Ontario N6A4G4

	 	Corp
	 	Holding Company for

investment in Horzion

Milling GP
	 	

100% CHS
	 	

Processing
	 	

7/18/2006
	 	

7/18/2006
	 	

31-Aug
	 	

Ontario
	 	

F
	 	

Canadian 2108362
	 	

	 	

	 	

$15,554,761
	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	A
	 	CHS de Argentina
	 	San Martin 323

Floor 17th

Buenos Aires

Argentina

	 	

Corp
	 	

Origination and

marketing of grains

and oilseeds
	 	

99.94% CHS; .06%

CHS-Farmco, Inc.
	 	

Ag Business
	 	

9/30/2009
	 	

9/30/2009
	 	

31-Dec
	 	

Argentina
	 	

F
	 	

	 	

	 	

	 	

$250,000
	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 
	A
	 	CHS do Brasil Ltda.
	 	Avenida Santo Amaro

48, 3rd Floor

Vila Nova Conceicao

Sao Paulo, Brazil

04506-000

	 	LLC
	 	Origination and

marketing of grains

and oilseeds.

Distribution of

fertilizers.
	 	

100% CHS
	 	

Ag Business
	 	

2/1/2003
	 	

2/1/2003
	 	

31-Dec
	 	

Sao Paulo

Brazil
	 	

F
	 	

Brazil

05.492.968/0001-04
	 	

	 	

	 	

$11,750,000
	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	A
	 	CHS DU (Australia)

Pty Ltd
	 	c/o Holman Fenwick

Willan

Level 39

600 Bourke Street

Melbourne, Victoria

3000

	 	

Corp
	 	

	 	

100% CHS
	 	

Ag Business
	 	

6/29/2009
	 	

6/29/2009
	 	

31-Aug
	 	

New South Whales,

Australia
	 	

F
	 	

ACN 137 965 121

ABN 19 137 965 121
	 	

	 	

	 	

$-
	 
	 	 
	 	 

	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	A
	 	CHS Energy Canada,

Inc. (name was

Cenex Canada Inc.

and changed to new

name on 9/30/03)
	 	

5500 Cenex Drive

PO Box 64089

St. Paul, MN 55164

	 	

Corp
	 	

Petroleum; does no

business
	 	

100% CHS Inc.
	 	

Energy
	 	

6/12/1987
	 	

6/12/1987
	 	

31-Aug
	 	

Alberta, Canada
	 	

F
	 	

868230301-RC0001

Canadian 8874 8884
	 	

Corp Access No.

20367786
	 	

	 	

$68,951
	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	A
	 	CHS Europe SA
	 	Av. Des Morgines 12

1213 Petit-Lancy

Switzerland

	 	Corp
	 	Develop financial,

trading,

merchandising,

carriage, freight,

representation,

agency, consulting &

service activity in

Switzerland and in

Europe
	 	

Eff. 6/28/2010 -

84.33% CHS Inc.;

15.67 CHSIH SA

(Prev. 100% CHSIH

SA)
	 	

Ag Business
	 	

8/2/2007
	 	

8/2/2007
	 	

31-Aug
	 	

Switzerland
	 	

F
	 	

Fed. No.:

CH-660-1876007-7

Ref: 09993/2007
	 	

	 	

CHF 38’300’000

(equiv

$35,216,116.73)
	 	

$29,990,715
	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	A
	 	CHS Hong Kong

Limited
	 	Flat/RM 5705, 57/F

The Center

99 Queen’s Road

Central, Hong Kong

	 	Corp
	 	Holding Company for

the PRC Investment;

Execution and Trading

for Asia Pacific

Region
	 	

100% CHSIH SA
	 	

Ag Business
	 	

6/11/2008
	 	

6/11/2008
	 	

31-Aug
	 	

Hong Kong
	 	

F
	 	

	 	

	 	

	 	

$-
	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 
	A
	 	CHS Inc. de Mexico
	 	Mexico City, Mexico

	 	Corp
	 	 	 	99% CHS; 1% St.

Paul Maritime

Corporation
	 	

Ag Business
	 	

2/20/2006
	 	

2/20/2006
	 	

31-Dec
	 	

Mexico
	 	

F
	 	

CIM060208N22
	 	

	 	

	 	

$2,632,662
	 
	 	 
	 	 

	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	A
	 	CHS UKRAINE, LLC
	 	67 Prospect Peremohy

Ave.

Kyiv, 03062, Ukraine

	 	LLC
	 	Purchasing,

transporting,

shipping, storing,

manufacturing,

processing, and

selling cereals,

legumes, oil crops,

seeds, sugar

products, other

agricultural products

and their processed

products; Part of

Olimpex Project
	 	

Eff. 6/22/10, 99.9%

CHS Europe SA; .1%

CHS VOSTOK

(Previously .1%

CHSIH SA)
	 	

Ag Business
	 	

2/12/2008
	 	

2/12/2008
	 	

31-Aug
	 	

Kyiv, Ukraine
	 	

F
	 	

35704808
	 	

	 	

$100,000.00
	 	

	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	

	A
	 	CHSIH SARL (name

changed from CHSIH

SA and converted to

LLC 2/21/2011)

(name changed from

CHSIH AG on

12/17/07)
	 	

Av. Des Morgines 12

1213 Petit-Lancy

Switzerland

	 	

LLC (was formerly a

Corp)
	 	

Holding Company for

interest in new

Multigrain JV
	 	

100% CHS
	 	

Ag Business
	 	

9/19/2006
	 	

9/19/2006
	 	

31-Dec
	 	

Geneva, Switzerland
	 	

F
	 	

	 	

	 	

CHF 3’000’000

(equiv $2,413,995)
	 	

$7,713,992
	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	 
	A
	 	CHSINC. Ibe  ́rica

S.L.
	 	World Trade Center Moll

de Barcelona Edificio

Norte-Planta 3 08039

Barcelona Spain

	 	

Corp
	 	

Marketing grains

toward Iberian

Peninsula
	 	

100% CHS Europe SA
	 	

Ag Business
	 	

8/3/2009
	 	

8/3/2009
	 	

31-Aug
	 	

Barcelona,

Catanuna, Spain
	 	

F
	 	

ESB 65162455
	 	

	 	

EURO 99,990 (equiv

$144,135.59)
	 	

	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	

	A
	 	Global Agri
	 	67/69 Otamana

Golovatogo Street

Odessa 65003 Ukraine

	 	Corp
	 	Ukranian Company held

by the Cyprus Holding

Company Serseris;

part of Olimpex

Project
	 	

100% Serseris

Holdings Limited
	 	

Ag Business
	 	

	 	

	 	

31-Aug
	 	

Odessa, Ukraine
	 	

F
	 	

36613151
	 	

	 	

	 	

	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	 
	 	 
	 	 
	 	

	 	

	 	

	A
	 	Harvest States

Cooperatives Europe

B.V.
	 	Dienstenstraat 15

NL 3161 GN Rhoon

The Netherlands

	 	

LLC
	 	

Grain Marketing
	 	

100% CHS
	 	

Ag Business
	 	

5/9/2001
	 	

5/9/2001
	 	

31-Aug
	 	

Netherland
	 	

F
	 	

	 	

	 	

EUR 18,000
	 	

$-
	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	 
	A
	 	Horizon Milling G.P.
	 	Ontario, Canada

	 	Gen. Ptnsp
	 	Flour Milling joint

venture
	 	24% CHS Canada, Inc.

76% Cargill Canada

Holdings III (2006)

Inc.
	 	

Processing
	 	

7/19/2006
	 	

7/19/2006
	 	

31-May
	 	

Ontario, Canada
	 	

F
	 	

	 	

	 	

	 	

$19,174,583
	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 	 	 
	A
	 	M Ta  ́rha  ́z

Rakta  ́roza  ́si e  ́s

Szolga  ́ltato  ́

Korla  ́tolt

Felelosse  ́gu

Ta  ́rsasa  ́g

(M-Ta  ́rha  ́z Kft)
	 	

H-1011 Budapest, Fo

utca 14-18, Hungary

	 	

Corp
	 	

	 	

100% S.C. Silotrans

S.R.L.
	 	

Ag Business
	 	

	 	

1/10/2011
	 	

	 	

Hungary
	 	

F
	 	

Cg.01-09-677949
	 	

	 	

	 	

	 
	 	 
	 	 

	 	 
	 	 	 	 
	 	 
	 	 	 	 
	 	 	 	 
	 	 
	 	 
	 	

	 	

	 	

	A
	 	MCIC AG
	 	c/o Dr. Martin Neese

Baarerstrasse 12

Zug, Switzerland

	 	

Corp
	 	

Financing
	 	

100% CHSIH SA (Eff.

9/1/10)
	 	

Ag Business
	 	

10/9/2006
	 	

10/9/2006
	 	

	 	

Zug, Switzerland
	 	

F
	 	

	 	

	 	

CHF 2’600’000

(equiv $2,085,000)
	 	

$4,612,756
	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 	 	 	 	 
	 	 
	 	 	 	 	
 
	 	 	 	 	 	Effective 3/8/10:
	 	

	 	

	 	

	 	

	 	

	 	

	 	

	 	

	 	

	 	

	A
	 	Multigrain AG
	 	c/o Dr. Martin Neese

Baarerstrasse 12

Zug, Switzerland

	 	Corp
	 	 	 	10.08% PMG; 44.95%

CHSIH AG; 44.95%

Multigrain Denmark
	 	

Ag Business
	 	

10/9/2006
	 	

10/9/2006
	 	

	 	

Zug, Switzerland
	 	

F
	 	

	 	

	 	

	 	

$139,024,435

(Includes Xingu)
	 
	 	 
	 	 

	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 
	A
	 	Omega Terminal S.A.
	 	Boulevard de Perolles 55

Case postale 144,

1705 Fribourg,

Switzerland

	 	

Corp
	 	

Swiss Company

involved in Olimpex

Project
	 	

100% CHS Europe SA

(soon to be bact

26%-pledge)
	 	

Ag Business
	 	

2/25/1999
	 	

6/5/2009
	 	

31-Dec
	 	

Switzerland
	 	

F
	 	

CH-217.1.000.078-4
	 	

	 	

CHF 2’500’000
	 	

	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	

	A
	 	Oregana Co., Ltd.
	 	Orfeos 3A

P.C. 1070

Nicosia, Cyprus

	 	Corp
	 	Cyprus Holding

Company involved in

the Agrico Project
	 	

50% CHS Europe SA;

50% Agrico
	 	

Ag Business
	 	

10/13/2008
	 	

12/22/2009
	 	

31-Dec
	 	

Republic of Cyprus
	 	

F
	 	

HE 239728
	 	

	 	

$4,022,827
	 	

	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	

	A
	 	RosAgroInvest LLC
	 	11, Rubina Street,

City of Novorossijsk,

Krasnodar Territory,

353900, Russian

Federation

	 	LLC
	 	Russian Operating

Company involved in

the Agrico Project

(owner of 3 handling

terminals-Blagodarniy

HT, Stavropol-Belaya

Glina HT,

Krasnodar-Timashevsk

HT, Krasnodar)
	 	

99% Oregana; 1%

Novorossijskiy

Transportniy

Holding (100%

Oregana in April)
	 	

Ag Business
	 	

3/13/2009
	 	

12/22/2009
	 	

31-Dec
	 	

Russian Federation
	 	

F
	 	

1092315001184
	 	

	 	

	 	

$4,880,000 as per

appraisal
	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	A
	 	S.C. Silotrans

S.R.L.
	 	Incinta Port Constanta

- Sud, Mol 1,

Constanta, Judetul

Constanta, Romania

	 	Corp.
	 	 	 	95.4% Agri Point

Ltd.; 4.06%

S.C.Schenker

Romtrans S.A.
	 	

Ag Business
	 	

00/00/1997
	 	

1/10/2011
	 	

	 	

Romania
	 	

F
	 	

J13/1763/1997
	 	

	 	

	 	

	 
	 	 
	 	 

	 	 
	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	 
	 	 
	 	

	 	

	 	

	A
	 	S.C. Soyaplus S.R.L.
	 	Incinta Port Constanta

Sud, Mol 1, Constanta,

Judetul Constanta,

Romania

	 	

Corp
	 	

	 	

100% S.C. Silotrans

S.R.L.
	 	

Ag Business
	 	

	 	

1/10/2011
	 	

	 	

Romania
	 	

F
	 	

J13/1201/2000
	 	

	 	

	 	

	 
	 	 
	 	 

	 	 
	 	 	 	 
	 	 
	 	 	 	 
	 	 	 	 
	 	 
	 	 
	 	

	 	

	 	

	A
	 	S.C. Transporter

S.R.L.
	 	Str. Portului Nr. 1,

Zona Libera, Giurgiu -

Siloz Baza, Giurgiu,

Judetul Giurgiu,

Romania

	 	

Corp.
	 	

	 	

50% S.C. Silotrans

S.R.L.; 50% S.C.

Perfect Casa De

Comenzi S.R.L.
	 	

Ag Business
	 	

	 	

1/10/2011
	 	

	 	

Romania
	 	

F
	 	

J52/95/2004
	 	

	 	

	 	

	 
	 	 
	 	 

	 	 
	 	 	 	 
	 	 
	 	 	 	 
	 	 	 	 
	 	 
	 	 
	 	

	 	

	 	

	A
	 	Serseris Holdings

Limited
	 	12 Egypt Street,

P.C. 1097

Nicosia, Cyprus

	 	Corp
	 	Cyprus Holding

Company, part of

Olimpex Project
	 	26% CHS Europe SA;

74% G.N. Terminal

Enterprises Ltd.
	 	

Ag Business
	 	

	 	

	 	

31-Dec
	 	

Republic of Cyprus
	 	

F
	 	

248357
	 	

	 	

$2,417,100.77
	 	

	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	

	A
	 	Xingu AG
	 	
 
	 	JV
	 	 	 	100% Multigrain AG
	 	Ag Business
	 	 	 	 	 	 	 	Switzerland
	 	F
	 	 	 	 	 	 	 	Combined with

Multigrain
	 
	 	 
	 	
 
	 	 
	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 	 
	DELETE
	 	Temizhbekskiy

Elevator
	 	Yubileingaya Street,

Temizhbekskiy Village,

Novoaleksandrovskiy

District,

Stavropol Territory,

356018, Russian

Federation

	 	

LLC
	 	

Russian Operating

Company involved in

the \Agrico Project
	 	

100% Oregana
	 	

Ag Business
	 	

3/30/2004
	 	

	 	

	 	

Russian Federation
	 	

F
	 	

1042600550574
	 	

	 	

	 	

	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 	 	 
	 	 
	 	 
	 	

	 	

	 	

	I
	 	CHS Vostok, LLC
	 	25 Tramvainaya Str.,

Office 55, Krasnodar,

Russia 350911

	 	LLC
	 	Russian Operating

Company, currently

dormant
	 	

100% CHS Europe SA
	 	

Ag Business
	 	

6/2/2008
	 	

6/2/2008
	 	

31-Dec
	 	

Russian Federation
	 	

F
	 	

2308146084
	 	

	 	

$424.47
	 	

	 
	 	 
	 	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 	 	 
	 	

	 	 	 	 	 	 	 	 	 	 	 
	CHS INC.
	 
	STATE OF INCORPORATION	 	Minnesota
	 	 	 
	DATE OF INCORPORATION	 	7/15/36
	 	 	 
	LAST UPDATED	 	3/1/11
	 	 	 
	 
	DIRECTORS	 	ADDRESS	 	ADDRESS	 	CITY/STATE/ZIP	 	POSITION
	 	 	 	 	 	 	 	 	 
	Michael Toelle	 	RR 1, Box 190	 	 	 	Browns Valley, MN

56219	 	Chairman
	 	 	 	 	 	 	 	 	 
	Robert Bass	 	E6391 Bass Road	 	 	 	Reedsburg, WI 53959	 	1st Vice Chairman
	 	 	 	 	 	 	 	 	 
	Jerry Hasnedl	 	12276 150th Avenue SE	 	 	 	St. Hilaire, MN
56754-9776	 	Secretary-Treasurer
	 	 	 	 	 	 	 	 	 
	Curt Eischens	 	2153 330th Street North	 	 	 	Minneota, MN

56264-1880	 	2nd Vice Chairman
	 	 	 	 	 	 	 	 	 
	Randy Knecht	 	40193 112th Street	 	 	 	Houghton, SD 57449	 	Asst. Secretary-Treasuer
	 	 	 	 	 	 	 	 	 
	Bruce Anderson	 	13500 42nd Street NE	 	 	 	Glenburn, ND

58740-9564	 	Director
	 	 	 	 	 	 	 	 	 
	Donald Anthony	 	43970 Road 758	 	 	 	Lexington, NE

68850-3745	 	Director
	 	 	 	 	 	 	 	 	 
	David Bielenberg	 	16425 Herigstad Rd NE	 	 	 	Silverton, OR 97381	 	Director
	 	 	 	 	 	 	 	 	 
	C. J. Blew	 	16304 S. Fall Street	 	 	 	Hutchinson, KS 67501	 	Director
	 	 	 	 	 	 	 	 	 
	Dennis Carlson	 	3255 50th Street	 	 	 	Mandan, ND 58554	 	Director
	 	 	 	 	 	 	 	 	 
	Steve Fritel	 	2851 77th Street NE	 	 	 	Barton, ND 68384	 	Director
	 	 	 	 	 	 	 	 	 
	David Kayser	 	42046 257th Street	 	 	 	Alexandria, SD 57311	 	Director
	 	 	 	 	 	 	 	 	 
	Greg Kruger	 	N49494 County Road Y	 	 	 	Eleva, WI 54738	 	Director
	 	 	 	 	 	 	 	 	 
	Michael Mulcahey	 	8109 360th Avenue	 	 	 	Waseca, MN 56093	 	Director
	 	 	 	 	 	 	 	 	 
	Richard Owen	 	PO Box 129	 	1591 Hawarden Road	 	Geraldine, MT 59446	 	Director
	 	 	 	 	 	 	 	 	 
	Steve Riegel	 	12748 Ridge Road	 	PO Box 7	 	Ford, KS 67842	 	Director
	 	 	 	 	 	 	 	 	 
	Dan Schurr	 	3009 Wisconsin Street	 	 	 	LeClaire, IA 52753	 	Director
	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	OFFICERS	 	ADDRESS	 	ADDRESS	 	CITY/STATE/ZIP	 	POSITION
	 	 	 	 	 	 	 	 	 
	Carl M. Casale	 	5500 Cenex Drive	 	 	 	Inver Grove

Heights, MN 55077	 	President and CEO
	 	 	 	 	 	 	 	 	 
	Josiah C. Blaisdell	 	5500 Cenex Drive	 	 	 	Inver Grove

Heights, MN 55077	 	Vice President

Corporate Compliance
	 	 	 	 	 	 	 	 	 
	Richard H. Browne	 	5500 Cenex Drive	 	 	 	Inver Grove

Heights, MN 55077	 	Senior Vice President

Grain Marketing
	 	 	 	 	 	 	 	 	 
	Jay D. Debertin	 	5500 Cenex Drive	 	 	 	Inver Grove

Heights, MN 55077	 	Executive Vice
President/COO
Energy and Foods
	 	 	 	 	 	 	 	 	 
	Theresa M. Egan	 	5500 Cenex Drive	 	 	 	Inver Grove

Heights, MN 55077	 	Vice President,

Accounting/Corporate

Controller
	 	 	 	 	 	 	 	 	 
	Anwer Hussain	 	5500 Cenex Drive	 	 	 	Inver Grove

Heights, MN 55077	 	Senior Vice President

Lubricants
	 	 	 	 	 	 	 	 	 
	Lynden Johnson	 	5500 Cenex Drive	 	 	 	Inver Grove

Heights, MN 55077	 	Senior Vice President

Business Solutions
	 	 	 	 	 	 	 	 	 
	David A. Kastelic	 	5500 Cenex Drive	 	 	 	Inver Grove

Heights, MN 55077	 	Executive Vice
President and Chief
Financial Officer
	 	 	 	 	 	 	 	 	 
	Patrick M. Kluempke	 	5500 Cenex Drive	 	 	 	Inver Grove

Heights, MN 55077	 	Executive Vice President

Corporate Administration
	 	 	 	 	 	 	 	 	 
	Nanci L. Lilja	 	5500 Cenex Drive	 	 	 	Inver Grove

Heights, MN 55077	 	Assistant Secretary
	 	 	 	 	 	 	 	 	 
	Esther I. Longseth	 	5500 Cenex Drive	 	 	 	Inver Grove

Heights, MN 55077	 	Assistant Secretary
	 	 	 	 	 	 	 	 	 
	Robert Looney	 	1745 Jefferson Davis

Highway	 	Suite 404	 	Arlington, VA 22202	 	Vice President

Public & Government

Affairs
	 	 	 	 	 	 	 	 	 
	John McEnroe	 	5500 Cenex Drive	 	 	 	Inver Grove

Heights, MN 55077	 	Senior Vice President

Country Operations
	 	 	 	 	 	 	 	 	 
	Thomas R. Medd	 	5500 Cenex Drive	 	 	 	Inver Grove

Heights, MN 55077	 	Vice President Business

Assessment
	 	 	 	 	 	 	 	 	 
	Beth Nordin	 	5500 Cenex Drive	 	 	 	Inver Grove

Heights, MN 55077	 	Vice President

Information Technology
	 	 	 	 	 	 	 	 	 
	Don Olson	 	5500 Cenex Drive	 	 	 	Inver Grove

Heights, MN 55077	 	Senior Vice President

Refined Fuels
	 	 	 	 	 	 	 	 	 
	Daniel Ostendorg	 	5500 Cenex Drive	 	 	 	Inver Grove

Heights, MN 55077	 	Vice President

Controller, Energy
	 	 	 	 	 	 	 	 	 
	Mark L. Palmquist	 	5500 Cenex Drive	 	 	 	Inver Grove

Heights, MN 55077	 	Executive Vice
President/COO
Ag Business and
Processing
	 	 	 	 	 	 	 	 	 
	Stefano Rettore	 	Avenida Santo Amaro 48,

3rd Floor Vila Nova

Conceicao	 	 	 	Sao Paulo, Brazil

04506-000	 	Senior Vice President,

South America
	 	 	 	 	 	 	 	 	 
	Manuel San Miguel	 	5500 Cenex Drive	 	 	 	Inver Grove

Heights, MN 55077	 	Vice President
Finance and Business
Planning
	 	 	 	 	 	 	 	 	 
	Claudio Scarrozza	 	Av. Des Morgines 12 1213
Petit-Lancy	 	 	 	Geneva, Switzerland	 	Senior Vice President,

Europe
	 	 	 	 	 	 	 	 	 
	Cheryl K. Schmura	 	5500 Cenex Drive	 	 	 	Inver Grove

Heights, MN 55077	 	Vice President

Crop Nutrients
	 	 	 	 	 	 	 	 	 
	Linda S. Tank	 	5500 Cenex Drive	 	 	 	Inver Grove

Heights, MN 55077	 	Vice President

Marketing &

Communications
	 	 	 	 	 	 	 	 	 
	Melodie Thostenson	 	5500 Cenex Drive	 	 	 	Inver Grove

Heights, MN 55077	 	Vice President

Administration &

Accounting
	 	 	 	 	 	 	 	 	 
	Thomas L. Traub	 	5500 Cenex Drive	 	 	 	Inver Grove

Heights, MN 55077	 	Vice President

Human Resources
	 	 	 	 	 	 	 	 	 
	Dennis Wendland	 	5500 Cenex Drive	 	 	 	Inver Grove

Heights, MN 55077	 	Senior Vice President

Oilseed Processing
	 	 	 	 	 	 	 	 	 
	Brad Wiggins	 	5500 Cenex Drive	 	 	 	Inver Grove

Heights, MN 55077	 	Vice President

Insurance Risk

Management
	 	 	 	 	 	 	 	 	 
	Kevin Williams	 	5500 Cenex Drive	 	 	 	Inver Grove

Heights, MN 55077	 	Senior Vice President

Energy Sales &

Transportation
	 	 	 	 	 	 	 	 	 
	Lisa A. Zell	 	5500 Cenex Drive	 	 	 	Inver Grove

Heights, MN 55077	 	Senior Vice President
and General Counsel
	 	 	 	 	 	 	 	 	 
	Robert Zimmerman	 	216 - 16 St. Mall	 	Suite 950	 	Denver, CO 80202	 	Vice President

Raw Material Supply
	 	 	 	 	 	 	 	 	 

SCHEDULE 5.5

FINANCIAL STATEMENTS

	1.	 	Consolidated Balance Sheets, Income Statement, and Statements of Operations and Cash Flows
for 8-months ended April 30, 2011.

	2.	 	Capital Expenditures and Corporate Expense Summary for 8-months ended April 30, 2011.

	3.	 	Operating Statements for Energy, Ag Business, and Corporate and Other Segments for 8-months
ended April 30, 2011.

SCHEDULE 5.6

RESTRICTIONS ON DEBT

	 	1.	 	$225,000,000 6.81% Series A Notes due June 19, 2013 issued pursuant to Note Agreement
dated as of June 19, 1998 among the Company and each of the investors listed on the
Purchase Schedule attached thereto.

	 	2.	 	$115,000,000 4.96% Series D Senior Notes due October 18, 2012 and $60,000,000 5.60%
Series E Senior Notes due October 18, 2017, issued pursuant to Note Purchase Agreement
dated as of October 18, 2002 among the Company and each of the investors listed on the
Purchase Schedule attached thereto.

	 	3.	 	$125,000,000 5.25% Series H Senior Notes due September 21, 2014, issued pursuant to
Note Purchase Agreement dated as of September 21, 2004 among the Company and each of the
investors listed on the Purchase Schedule attached thereto.

	 	4.	 	$400,000,000 6.18% Series I Senior Notes dated October 4, 2007 due October 4, 2017,
issued pursuant to Note Purchase Agreement dated as of October 4, 2007 among the Company
and each of the investors listed on the Purchase Schedule attached thereto.

	 	5.	 	$50,000,000 5.78% Series J Notes dated February 8, 2008 due February 8, 2018 issued
pursuant to Note Purchase and Private Shelf Agreement dated as of April 13, 2004 among the
Company and The Prudential Insurance Company and certain affiliates thereof (the “Shelf
Agreement”) and $150,000,000 Private Shelf Facility established thereunder, including all
amendments thereto.

	 	6.	 	$100,000,000 4.00% Series K Notes dated November 23, 2010 due November 23, 2020 issued
pursuant to the Shelf Agreement.

	 	7.	 	Credit Agreement ($150,000,000 Term Loan) dated as of December 12, 2007 by and between
CoBank, ACB, et al. and CHS Inc., including all Amendments thereto.

	 	8.	 	2010 Credit Agreement ($900,000,000 Revolving Loan), dated as of June 2, 2010, by and
between CoBank, ACB, the Syndication Parties party thereto, and CHS Inc.

	 	9.	 	2010 364-Day Credit Agreement ($1,300,000,000 Revolving Loan) dated as of November 23,
2010 by and between CoBank, ACB, the Syndication Parties party thereto, and CHS Inc.

	 	10.	 	Revolving Loan Agreement ($120,000,000 Revolving Loan) dated as of November 30, 2010
between CHS Inc. and European Bank for Reconstruction and Development.

	 	11.	 	Term Loan Agreement ($32,642,400 Term Loan) dated as of January 5, 2011 between CHS
Inc. and European Bank for Reconstruction and Development.

SCHEDULE 5.12

INTELLECTUAL PROPERTY

None.

SCHEDULE 5.16

EXISTING DEBT > $10 million

CHS Inc. & Subsidiaries

	 	 	 	 	 	 	 	 	 
	Short-term Notes	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	(represents commitment - actual drawn was $190,000,000 on
	CHS 5 yr Revolver
	 	 	900,000,000	 	 	 	5/31/11	)
	 
	 	 	 	 	 	(represents commitment - actual drawn was $340,000,000 on
	CHS 364-day Revolver
	 	 	1,300,000,000	 	 	 	5/31/11	)
	 
	 	 	 	 	 	(represents commitment - actual drawn was $40,000,000 on
	CHS Sumitomo Revolver
	 	 	40,000,000	 	 	 	5/31/11 	)
	CHS 3 yr Revolver (EBRD)
	 	 	40,000,000	 	 	(represents commitment - actual drawn was -0- )
	 
	 	 	 	 	 	($125,000,000  commitment reduces availability of 5 yr
	Commercial Paper
	 	 	0	 	 	revolver - actual drawn was -0- on 5/31/11)
	NCRA’s Revolver
	 	 	15,000,000	 	 	(represents commitment - actual drawn was -0- on 5/31/11 )
	Trade Finance — Geneva
	 	 	34,598,847	 	 	(uncommitted - represents drawn balance on 5/31/11)
	Trade Finance — Brazil
	 	 	0	 	 	(uncommitted - no drawn balance as of 4/30/11)
	Trade Finance — CN
	 	 	18,242,906	 	 	(uncommitted - represents drawn balance as of 6/3/11)
	 
	 	 	2,347,841,753	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Private Placements
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Private Placement series A- jun ‘98
	 	 	112,500,000	 	 	 	 	 
	Private Placement series D&E- oct
’02
	 	 	86,538,461	 	 	 	 	 
	Private Placement series H- sept ‘04
	 	 	100,000,000	 	 	 	 	 
	Private Placement series I- oct ‘07
	 	 	400,000,000	 	 	 	 	 
	Prudential PP series J- feb ‘08
	 	 	50,000,000	 	 	 	 	 
	Prudential PP series K- nov ‘10
	 	 	100,000,000	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 
	 	 	849,038,461	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Farm Credit Banks - 10 yr Term
	 	 	150,000,000	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	European Bank for Rec & Dev — Term
	 	 	31,882,475	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Guarantee for ACG Trade joint
venture
	 	 	15,000,000	 	 	(exposure on 5/31/11 was -0- no drawn balance)
	Guarantee for Temco joint venture
	 	 	60,000,000	 	 	(exposure on 5/31/11 was -0- no drawn balance)
	Guarantee for Cofina Financial -
	 	 	20,500,000	 	 	(exposure on 5/31/11 was $19,185,031)
	loans sold to other lenders-
	 	 	 	 	 	 	 	 
	(not part of commercial paper
progam)
	 	 	 	 	 	 	 	 
	Consolidated Total
	 		3,378,762,689		 	 	 	 
	 
	 	 	 	 	 	 	 	 

EXHIBIT 1.1(a)

[FORM OF SERIES L SENIOR NOTE]

CHS INC.

4.08% SERIES L SENIOR NOTE DUE JUNE 9, 2019

	 	 	 
	No. RL-[      ]

$[      ]
	 	[Date]

PPN: [      ]

FOR VALUE RECEIVED, the undersigned, CHS Inc. (herein called the “Company”), a corporation
organized and existing under the laws of the State of Minnesota, hereby promises to pay to
[      ], or registered assigns, the principal sum of [      ] DOLLARS
($[      ]) (or so much thereof as shall not have been prepaid) on June 9, 2019, with interest
(computed on the basis of a 360-day year of twelve 30-day months) (a) on the unpaid balance hereof
at the rate of 4.08% per annum from the date hereof, payable semiannually, on the 9th day of June
and December in each year, commencing with the June or December next succeeding the date hereof,
until the principal hereof shall have become due and payable, and (b) to the extent permitted by
law, on any overdue payment of interest and, during the continuance of an Event of Default, on such
unpaid balance and on any overdue payment of any Make-Whole Amount, at a rate per annum from time
to time equal to the greater of (i) 6.08% or (ii) 2% over the rate of interest publicly announced
by The Bank of New York from time to time in New York, New York as its “base” or “prime” rate,
payable semiannually as aforesaid (or, at the option of the registered holder hereof, on demand).

Payments of principal of, interest on and any Make-Whole Amount with respect to this Note are
to be made in lawful money of the United States of America at Wells Fargo Bank, National
Association in New York, New York or at such other place as the Company shall have designated by
written notice to the holder of this Note as provided in the Note Purchase Agreement referred to
below.

This Note is one of a series of 4.08% Series L Senior Notes (herein called the “Notes”) issued
pursuant to the Master Note Purchase Agreement, dated as of June 9, 2011 (as from time to time
amended, the “Note Purchase Agreement”), between the Company and the respective Purchasers named
therein and is entitled to the benefits thereof. Each holder of this Note will be deemed, by its
acceptance hereof, to have (a) agreed to the confidentiality provisions set forth in Section 20 of
the Note Purchase Agreement and (b) made the representation set forth in Section 6.2 of the Note
Purchase Agreement. Unless otherwise indicated, capitalized terms used in this Note shall have the
respective meanings ascribed to such terms in the Note Purchase Agreement.

This Note is a registered Note and, as provided in the Note Purchase Agreement, upon surrender
of this Note for registration of transfer accompanied by a written instrument of transfer duly
executed, by the registered holder hereof or such holder’s attorney duly authorized in writing, a
new Note for a like principal amount will be issued to, and registered in the name of, the
transferee. Prior to due presentment for registration of transfer, the Company may treat the
person in whose name this Note is registered as the owner hereof for the purpose of receiving
payment and for all other purposes, and the Company will not be affected by any notice to the
contrary.

This Note is subject to prepayment, in whole or from time to time in part, at the times and on
the terms specified in the Note Purchase Agreement, but not otherwise.

If an Event of Default occurs and is continuing, the principal of this Note may be declared or
otherwise become due and payable in the manner, at the price (including any applicable Make-Whole
Amount) and with the effect provided in the Note Purchase Agreement.

This Note shall be construed and enforced in accordance with, and the rights of the Company
and the holder of this Note shall be governed by, the law of the State of New York excluding
choice-of-law principles of the law of such State that would permit the application of the laws of
a jurisdiction other than such State.

CHS INC.

By:

Name:

Title:

EXHIBIT 1.1(b)

[FORM OF SERIES M SENIOR NOTE]

CHS INC.

4.52% SERIES M SENIOR NOTE DUE JUNE 9, 2021

	 	 	 
	No. RM-[      ]

$[      ]
	 	[Date]

PPN: [      ]

FOR VALUE RECEIVED, the undersigned, CHS Inc. (herein called the “Company”), a corporation
organized and existing under the laws of the State of Minnesota, hereby promises to pay to
[      ], or registered assigns, the principal sum of [      ] DOLLARS
($[      ]) (or so much thereof as shall not have been prepaid) on June 9, 2021, with interest
(computed on the basis of a 360-day year of twelve 30-day months) (a) on the unpaid balance hereof
at the rate of 4.52% per annum from the date hereof, payable semiannually, on the 9th day of June
and December in each year, commencing with the June or December next succeeding the date hereof,
until the principal hereof shall have become due and payable, and (b) to the extent permitted by
law, on any overdue payment of interest and, during the continuance of an Event of Default, on such
unpaid balance and on any overdue payment of any Make-Whole Amount, at a rate per annum from time
to time equal to the greater of (i) 6.52% or (ii) 2% over the rate of interest publicly announced
by The Bank of New York from time to time in New York, New York as its “base” or “prime” rate,
payable semiannually as aforesaid (or, at the option of the registered holder hereof, on demand).

Payments of principal of, interest on and any Make-Whole Amount with respect to this Note are
to be made in lawful money of the United States of America at Wells Fargo Bank, National
Association in New York, New York or at such other place as the Company shall have designated by
written notice to the holder of this Note as provided in the Note Purchase Agreement referred to
below.

This Note is one of a series of 4.52% Series M Senior Notes (herein called the “Notes”) issued
pursuant to the Master Note Purchase Agreement, dated as of June 9, 2011 (as from time to time
amended, the “Note Purchase Agreement”), between the Company and the respective Purchasers named
therein and is entitled to the benefits thereof. Each holder of this Note will be deemed, by its
acceptance hereof, to have (a) agreed to the confidentiality provisions set forth in Section 20 of
the Note Purchase Agreement and (b) made the representation set forth in Section 6.2 of the Note
Purchase Agreement. Unless otherwise indicated, capitalized terms used in this Note shall have the
respective meanings ascribed to such terms in the Note Purchase Agreement.

This Note is a registered Note and, as provided in the Note Purchase Agreement, upon surrender
of this Note for registration of transfer accompanied by a written instrument of transfer duly
executed, by the registered holder hereof or such holder’s attorney duly authorized in writing, a
new Note for a like principal amount will be issued to, and registered in the name of, the
transferee. Prior to due presentment for registration of transfer, the Company may treat the
person in whose name this Note is registered as the owner hereof for the purpose of receiving
payment and for all other purposes, and the Company will not be affected by any notice to the
contrary.

This Note is subject to prepayment, in whole or from time to time in part, at the times and on
the terms specified in the Note Purchase Agreement, but not otherwise.

If an Event of Default occurs and is continuing, the principal of this Note may be declared or
otherwise become due and payable in the manner, at the price (including any applicable Make-Whole
Amount) and with the effect provided in the Note Purchase Agreement.

This Note shall be construed and enforced in accordance with, and the rights of the Company
and the holder of this Note shall be governed by, the law of the State of New York excluding
choice-of-law principles of the law of such State that would permit the application of the laws of
a jurisdiction other than such State.

CHS INC.

By:

Name:

Title:

EXHIBIT 1.1(c)

[FORM OF SERIES N SENIOR NOTE]

CHS INC.

4.67% SERIES N SENIOR NOTE DUE JUNE 9, 2023

	 	 	 
	No. RN-[      ]

$[      ]
	 	[Date]

PPN: [      ]

FOR VALUE RECEIVED, the undersigned, CHS Inc. (herein called the “Company”), a corporation
organized and existing under the laws of the State of Minnesota, hereby promises to pay to
[      ], or registered assigns, the principal sum of [      ] DOLLARS
($[      ]) (or so much thereof as shall not have been prepaid) on June 9, 2023, with interest
(computed on the basis of a 360-day year of twelve 30-day months) (a) on the unpaid balance hereof
at the rate of 4.67% per annum from the date hereof, payable semiannually, on the 9th day of June
and December in each year, commencing with the June or December next succeeding the date hereof,
until the principal hereof shall have become due and payable, and (b) to the extent permitted by
law, on any overdue payment of interest and, during the continuance of an Event of Default, on such
unpaid balance and on any overdue payment of any Make-Whole Amount, at a rate per annum from time
to time equal to the greater of (i) 6.67% or (ii) 2% over the rate of interest publicly announced
by The Bank of New York from time to time in New York, New York as its “base” or “prime” rate,
payable semiannually as aforesaid (or, at the option of the registered holder hereof, on demand).

Payments of principal of, interest on and any Make-Whole Amount with respect to this Note are
to be made in lawful money of the United States of America at Wells Fargo Bank, National
Association in New York, New York or at such other place as the Company shall have designated by
written notice to the holder of this Note as provided in the Note Purchase Agreement referred to
below.

This Note is one of a series of 4.67% Series N Senior Notes (herein called the “Notes”) issued
pursuant to the Master Note Purchase Agreement, dated as of June 9, 2011 (as from time to time
amended, the “Note Purchase Agreement”), between the Company and the respective Purchasers named
therein and is entitled to the benefits thereof. Each holder of this Note will be deemed, by its
acceptance hereof, to have (a) agreed to the confidentiality provisions set forth in Section 20 of
the Note Purchase Agreement and (b) made the representation set forth in Section 6.2 of the Note
Purchase Agreement. Unless otherwise indicated, capitalized terms used in this Note shall have the
respective meanings ascribed to such terms in the Note Purchase Agreement.

This Note is a registered Note and, as provided in the Note Purchase Agreement, upon surrender
of this Note for registration of transfer accompanied by a written instrument of transfer duly
executed, by the registered holder hereof or such holder’s attorney duly authorized in writing, a
new Note for a like principal amount will be issued to, and registered in the name of, the
transferee. Prior to due presentment for registration of transfer, the Company may treat the
person in whose name this Note is registered as the owner hereof for the purpose of receiving
payment and for all other purposes, and the Company will not be affected by any notice to the
contrary.

This Note is subject to prepayment, in whole or from time to time in part, at the times and on
the terms specified in the Note Purchase Agreement, but not otherwise.

If an Event of Default occurs and is continuing, the principal of this Note may be declared or
otherwise become due and payable in the manner, at the price (including any applicable Make-Whole
Amount) and with the effect provided in the Note Purchase Agreement.

This Note shall be construed and enforced in accordance with, and the rights of the Company
and the holder of this Note shall be governed by, the law of the State of New York excluding
choice-of-law principles of the law of such State that would permit the application of the laws of
a jurisdiction other than such State.

CHS INC.

By:

Name:

Title:

EXHIBIT 1.1(d)

[FORM OF SERIES O SENIOR NOTE]

CHS INC.

4.82% SERIES O SENIOR NOTE DUE JUNE 9, 2026

	 	 	 
	No. RO-[      ]

$[      ]
	 	[Date]

PPN: [      ]

FOR VALUE RECEIVED, the undersigned, CHS Inc. (herein called the “Company”), a corporation
organized and existing under the laws of the State of Minnesota, hereby promises to pay to
[      ], or registered assigns, the principal sum of [      ] DOLLARS
($[      ]) (or so much thereof as shall not have been prepaid) on June 9, 2026, with interest
(computed on the basis of a 360-day year of twelve 30-day months) (a) on the unpaid balance hereof
at the rate of 4.82% per annum from the date hereof, payable semiannually, on the 9th day of June
and December in each year, commencing with the June or December next succeeding the date hereof,
until the principal hereof shall have become due and payable, and (b) to the extent permitted by
law, on any overdue payment of interest and, during the continuance of an Event of Default, on such
unpaid balance and on any overdue payment of any Make-Whole Amount, at a rate per annum from time
to time equal to the greater of (i) 6.82% or (ii) 2% over the rate of interest publicly announced
by The Bank of New York from time to time in New York, New York as its “base” or “prime” rate,
payable semiannually as aforesaid (or, at the option of the registered holder hereof, on demand).

Payments of principal of, interest on and any Make-Whole Amount with respect to this Note are
to be made in lawful money of the United States of America at Wells Fargo Bank, National
Association in New York, New York or at such other place as the Company shall have designated by
written notice to the holder of this Note as provided in the Note Purchase Agreement referred to
below.

This Note is one of a series of 4.82% Series O Senior Notes (herein called the “Notes”) issued
pursuant to the Master Note Purchase Agreement, dated as of June 9, 2011 (as from time to time
amended, the “Note Purchase Agreement”), between the Company and the respective Purchasers named
therein and is entitled to the benefits thereof. Each holder of this Note will be deemed, by its
acceptance hereof, to have (a) agreed to the confidentiality provisions set forth in Section 20 of
the Note Purchase Agreement and (b) made the representation set forth in Section 6.2 of the Note
Purchase Agreement. Unless otherwise indicated, capitalized terms used in this Note shall have the
respective meanings ascribed to such terms in the Note Purchase Agreement.

This Note is a registered Note and, as provided in the Note Purchase Agreement, upon surrender
of this Note for registration of transfer accompanied by a written instrument of transfer duly
executed, by the registered holder hereof or such holder’s attorney duly authorized in writing, a
new Note for a like principal amount will be issued to, and registered in the name of, the
transferee. Prior to due presentment for registration of transfer, the Company may treat the
person in whose name this Note is registered as the owner hereof for the purpose of receiving
payment and for all other purposes, and the Company will not be affected by any notice to the
contrary.

This Note is subject to prepayment, in whole or from time to time in part, at the times and on
the terms specified in the Note Purchase Agreement, but not otherwise.

If an Event of Default occurs and is continuing, the principal of this Note may be declared or
otherwise become due and payable in the manner, at the price (including any applicable Make-Whole
Amount) and with the effect provided in the Note Purchase Agreement.

This Note shall be construed and enforced in accordance with, and the rights of the Company
and the holder of this Note shall be governed by, the law of the State of New York excluding
choice-of-law principles of the law of such State that would permit the application of the laws of
a jurisdiction other than such State.

CHS INC.

By:

Name:

Title:

FORM OF SUPPLEMENT

CHS INC.

[ ] SUPPLEMENT TO MASTER NOTE PURCHASE AGREEMENT

Dated as of [_________], 20[__]

Re: $[__________] [___]% Series [ ] Senior Notes

due

CHS INC.

5500 Cenex Drive

Inver Grove Heights, MN 55077

[ ] SUPPLEMENT TO MASTER NOTE PURCHASE AGREEMENT

DATED AS OF [_________], 2011

Dated as of [ ]

TO EACH OF THE PURCHASERS LISTED

IN THE ATTACHED SCHEDULE A:

Ladies and Gentlemen:

This [Number] Supplement to Master Note Purchase Agreement (the “[ ] Supplement” or “this
Agreement”) is among CHS Inc., a nonstock agricultural cooperative corporation organized under the
laws of the State of Minnesota (the “Company”), and the institutional investor[s] named on the
attached Schedule A (the “Purchaser[s]”).

Reference is hereby made to the Master Note Purchase Agreement dated as of [      ], 2011 (the
“Note Purchase Agreement”) among the Company and the purchasers listed on Schedule A thereto.
Capitalized terms not otherwise defined herein shall have the meanings ascribed in the Note
Purchase Agreement. Reference is further made to Section 1.2 of the Note Purchase Agreement, which
provides that each series of Additional Notes will be issued pursuant to a Supplement.

The Company agrees with the Purchaser[s] as follows:

1. Authorization of the New Series of Additional Notes. The Company has authorized the
issue and sale of $[ ] aggregate principal amount of Notes to be designated as its [ ]% Series [ ]
Senior Notes due [ ], [ ] (the “Series [ ] Notes”). The Series [ ] Notes, together with the 2011
Notes [and the Series [ ] Notes] heretofore issued pursuant to the Note Purchase Agreement and each
series of Additional Notes that may from time to time hereafter be issued pursuant to the
provisions of Section 1.2 of the Note Purchase Agreement, are collectively referred to as the
“Notes” (such term shall also include any such notes issued in substitution therefor pursuant to
Section 13 of the Note Purchase Agreement). The Series [ ] Notes shall be substantially in the
form set out in Exhibit 1 to this [ ] Supplement, with such changes therefrom, if any, as
may be approved by the Purchaser[s] and the Company.

2. Sale and Purchase of Series [ ] Notes. Subject to the terms and conditions herein and
in the Note Purchase Agreement, the Company will issue and sell to each Purchaser and each
Purchaser will purchase from the Company, at the [ ] Supplemental Closing provided for in Section
3, Series [ ] Notes in the principal amount specified opposite such Purchaser’s name in the
attached Schedule A at the purchase price of 100% of the principal amount thereof. The
obligations of the Purchasers are several and not joint obligations and each Purchaser shall have
no liability to any Person for the performance or non-performance by any other Purchaser hereunder.

3. Closing. The sale and purchase of the Series [ ] Notes to be purchased by the
Purchasers shall occur at the offices of [ ] at 9:00 a.m., [ ] time, at a closing (the “[ ]
Supplemental Closing”) on [ ], [ ] or on such other Business Day thereafter on or prior to [ ], [ ]
as may be agreed upon by the Company and the Purchasers. At the [ ] Supplemental Closing, the
Company will deliver to each Purchaser the Series [ ] Notes to be purchased by such Purchaser in
the form of a single Note (or such greater number of Series [ ] Notes in denominations of at least
$500,000 as such Purchaser may request) dated the date of the [ ] Supplemental Closing and
registered in such Purchaser’s name (or in the name of its nominee), against delivery by such
Purchaser to the Company or its order of immediately available funds in the amount of the purchase
price therefor by wire transfer of immediately available funds for the account of the Company to
account number [      ] at [Name and Address of Bank], ABA No. [ ]. If at the [ ] Supplemental
Closing the Company fails to tender such Series [ ] Notes to any Purchaser as provided above in
this Section 3, or any of the conditions specified in Section 4 shall not have been fulfilled to
such Purchaser’s satisfaction, such Purchaser shall, at such Purchaser’s election, be relieved of
all further obligations under this Agreement, without thereby waiving any rights such Purchaser may
have by reason of such failure or such nonfulfillment.

4. Conditions to [ ] Supplemental Closing. Each Purchaser’s obligation to purchase and pay
for the Series [ ] Notes to be sold to such Purchaser at the [ ] Supplemental Closing is subject to
the fulfillment to such Purchaser’s reasonable satisfaction, prior to or at the [ ] Supplemental
Closing, of the following conditions:

(a) [Representations and Warranties.

Each of the representations and warranties of the Company set forth in Schedule
4 attached hereto shall be correct when made and as of the date of the [ ] Supplemental
Closing.]

[Insert here additional conditions to [ ] Supplemental Closing]

5. [Insert here special payment provisions for Series [ ] Notes including prepayment provisions].

(a) [Required Prepayments] [Maturity].

[As provided therein, the entire unpaid principal balance of the Series [ ] Notes shall
be due and payable on the stated maturity date thereof.]

[On [      ], 20[      ] and on each [      ] thereafter to and including
[      ], 20[      ]the Company will prepay $[      ] principal amount (or such lesser
principal amount as shall then be outstanding) of the Series [ ] Notes at par and without
payment of the Make-Whole Amount or any premium, provided that upon any partial prepayment
of the Series [ ] Notes pursuant to Section 8.3 of the Note Purchase Agreement, the
principal amount of each required prepayment of the Series [ ] Notes becoming due under this
Section [ ] on and after the date of such prepayment shall be reduced in the same proportion
as the aggregate unpaid principal amount of the Series [ ] Notes is reduced as a result of
such prepayment.]

6. Representations of the Purchasers. Each Purchaser represents and warrants that the
representations and warranties set forth in Section 6 of the Note Purchase Agreement are true and
correct on the date hereof with respect to the purchase of the Series [ ] Notes by such Purchaser.

7. Applicability of Note Purchase Agreement. Except for those terms and provisions set
forth on Schedule 7 attached hereto the Company and each Purchaser agree to be bound by and
comply with the terms and provisions of the Note Purchase Agreement as fully and completely as if
such Purchaser were an original signatory to the Note Purchase Agreement.

8. References. All references in the Note Purchase Agreement and all other instruments,
documents and agreements relating thereto, or entered into in connection therewith, shall be deemed
to refer to the Note Purchase Agreement, as supplemented by this [ ] Supplement.

9. Notices. All notices and communications provided to any Purchasers under this [ ]
Supplement or the Note Purchase Agreement shall be in writing and sent in the manner specified in
Section 18 of the Note Purchase Agreement to such Purchaser or its nominee (as applicable) at the
address specified for such communications in Schedule A to this [ ] Supplement, or at such
other address as such Purchaser or its nominee shall have specified to the Company in writing.

10. Governing Law. This [ ] Supplement shall be construed and enforced in accordance with,
and the rights of the parties shall be governed by, the law of the State of New York excluding
choice-of-law principles of the law of such State that would permit the application of the laws of
a jurisdiction other than such State.

11. Additional Provisions.

[Here insert any additional provisions].

If you are in agreement with the foregoing, please sign the form of agreement on the
accompanying counterpart of this Agreement and return it to the Company, whereupon the foregoing
shall become a binding agreement between you and the Company. This Agreement may be executed in
any number of counterparts, each executed counterpart constituting an original but all together
only one agreement.

Very truly yours,

CHS INC.

By:

Name:

Title:

The foregoing is agreed to as of the date thereof.

[ADD PURCHASER SIGNATURE BLOCKS]

[CONFIRMATION

Each of the undersigned acknowledges receipt of the foregoing [ ] Supplement to Master Note
Purchase Agreement dated as of [      ], 2011 and confirms the continuing validity and
enforceability against such undersigned of the Guaranty to which such undersigned is a
party.]1

[ADD SIGNATURE BLOCKS FOR EACH GUARANTOR]

Schedule A

INFORMATION RELATING TO PURCHASERS

	 	 	 
	Name and Address of Purchaser
	 	Principal Amount of Series [ ] Notes to be

Purchased

	 
	 	 

Register Notes in name of.

(1) All scheduled payments of principal and interest by wire transfer of immediately available
funds to:

with sufficient information to identify the source and application of such funds, including issuer,
PPN#, interest rate, maturity and whether payment is of principal, premium, or interest

For all payments other than scheduled payments of principal and interest, the Company shall seek
instructions from the holder, and in the absence of instructions to the contrary, will make such
payments to the account and in the manner set forth above.

(2) All notices of payments and written confirmations of such wire transfers:

(3) Original notes delivered to:

(4) All other communications:

(5) Tax ID No.

SUPPLEMENTAL REPRESENTATIONS

The Company represents and warrants to each Purchaser that, except as hereinafter set forth in this
Schedule 4, each of the representations and warranties set forth in Section 5 of the Note
Purchase Agreement is true and correct in all material respects as of the date hereof with respect
to the Series [ ] Notes with the same force and effect as if each reference to “2011 Notes” set
forth therein was modified to refer to the “Series [ ] Notes” and each reference to “this
Agreement” therein was modified to refer to the Note Purchase Agreement as supplemented by the [ ]
Supplement. The Section references hereinafter set forth correspond to the similar sections of the
Note Purchase Agreement that are supplemented hereby:

[Add any additional Sections as appropriate at the time the Series [ ] Notes are issued and any
exceptions to the representations and warranties]

FORM OF SERIES [ ] NOTE

EXHIBIT 4.4(a)

FORM OF OPINION OF SPECIAL COUNSEL FOR THE COMPANY

June 9, 2011

Each of the Purchasers identified on Schedule 1 hereto

	 	 	 	Re: CHS Inc. Master Note Purchase Agreement

Ladies and Gentlemen:

We have acted as special counsel to CHS Inc., a cooperative corporation formed under the laws
of the State of Minnesota (the “Company”), in connection with the documents listed on
Schedule 2 attached hereto (the “Transaction Documents”). This opinion is being
delivered to each of the purchasers identified on Schedule 1 hereto (each, a
“Purchaser” and collectively, the “Purchasers”) at the request of the Company
pursuant to Section 4.4(b) of the Note Purchase Agreement (as defined on Schedule 2
hereto). Capitalized terms defined in this opinion and in the schedules and exhibits hereto are
used herein and therein as so defined. Capitalized terms used in this opinion and in the schedules
and exhibits hereto that are not defined herein or therein shall have the meanings given such terms
in the Note Purchase Agreement.

In connection with this opinion, we have examined the Transaction Documents and the following
documents:

	 	(i)	 	a copy of the articles of incorporation of the Company certified as of June 7,
2011 as a true copy by the Minnesota Secretary of State, and a copy of the bylaws of
the Company certified as of June 9, 2011 as a true copy by the Secretary of the Company
(collectively, the “Constituent Documents”);

	 	(ii)	 	a certificate of good standing concerning the Company from the Minnesota
Secretary of State issued June 7, 2011 (the “Good Standing Certificate”); and

	 	(iii)	 	a certificate of an officer of the Company certifying as to a copy of
resolutions of the Board of Directors of the Company adopted May 4, 2011, incumbency
with respect to officers of the Company, and certain other matters.

We have also examined such other documents, and have reviewed such questions of law, as we
have considered necessary and appropriate for the purposes of this opinion. In addition, as to
questions of fact material to the opinions hereinafter expressed, we have, when relevant facts were
not independently established by us, relied upon certificates of officers of the Company and of
public officials and the Offeree Letter attached hereto as Annex A, and we have assumed
that all such facts are true and correct as of the date of this opinion. We have not independently
examined the records of any court or public office in any jurisdiction (other than as specifically
identified in items (i) and (ii) above), and our opinion is subject to matters which examination of
such records would reveal. Without limiting the generality of the foregoing, we have relied, as to
factual matters, upon certificates of officers of the Company referenced in items (i) and (iii)
above and the representations contained therein, and we have assumed that all such representations
are true and correct as of the date of this opinion.

Our opinions expressed below as to certain factual matters are qualified as being limited “to
our actual knowledge” or by other words to the same or similar effect. Such words, as used herein,
mean that prior to or during the course of this firm’s representation of the Company in connection
with the specific transactions contemplated by the Transaction Documents, no contrary information
came to the attention of David Swanson, Steven Khadavi or Harriet Bildsten, the attorneys in our
firm who have represented the Company in connection with the transactions contemplated by the
Transaction Documents and the preparation of this opinion. Our opinions in clause (i) of Paragraph
3 and Paragraph 4 below are limited to (x) our actual knowledge, if any, of the specifically
regulated business activities and properties of the Company based solely upon an officer’s
certificate in respect of such matters and without any independent investigation or verification on
our part and (y) laws and regulations normally applicable to transactions of the type contemplated
in the Transaction Documents and do not extend to licenses, permits and approvals necessary for the
conduct of the Company’s business. In rendering such opinions, we have not conducted any
independent investigation of the Company or consulted with other attorneys in our firm with respect
to the matters covered thereby. No inference as to our knowledge with respect to the factual
matters upon which we have so qualified our opinions should be drawn from the fact of our
representation of the Company.

In rendering the opinions expressed below, we have assumed, without verification, that:

	 	(A)	 	Each of the parties to the Transaction Documents, other than the Company, is
organized, validly existing and in good standing in its respective state of
organization.

	 	(B)	 	Each of the parties to the Transaction Documents, other than the Company, has
the full corporate or similar power and authority to enter into and perform its
respective obligations described in the Transaction Documents.

	 	(C)	 	Each of the Transaction Documents has been executed and delivered by the
appropriate parties, other than the Company, and all necessary steps have been taken to
authorize the execution, delivery and performance by such parties (other than the
Company) of the Transaction Documents.

	 	(D)	 	The representations and warranties of each of the parties contained in the
Transaction Documents with respect to factual matters are true and correct as of the
date of this opinion and all other statements of fact contained in the Transaction
Documents are true, but no statements as to law or conclusions of law in the
Transaction Documents which are expressly addressed by this opinion are assumed to be
true.

	 	(E)	 	All signatures on the Transaction Documents are genuine, all documents
submitted to us as originals, if any, are authentic and all copies submitted to us
conform to original documents which are themselves authentic original documents.

	 	(F)	 	Each Transaction Document constitutes the valid, binding and enforceable
obligations of each of the parties thereto, other than the Company, and each of the
parties thereto, other than the Company, has the legal capacity to enter into and be
bound by such Transaction Document.

	 	(G)	 	All natural persons executing and delivering the Transaction Documents have the
legal capacity for all purposes relevant hereto to do so.

	 	(H)	 	The execution and delivery of the Transaction Documents, the performance and
consummation of the transactions described therein or contemplated thereby, and
compliance with the terms and observance of the conditions thereof will not conflict
with, result in a breach or violation of, constitute a default under, or violate any of
the terms, provisions or conditions of (i) the articles of incorporation or other
similar constitution document of any party thereto, other than the Company, or (ii) any
material indenture, mortgage, deed of trust, lease, document, agreement or other
instrument to which any party thereto, including the Company, or by which any of them
or their properties are bound, including, without limitation, the documents, agreements
and other instruments relating to any material financing transaction to which any party
thereto is a party, including the Company (other than, to the extent covered by our
opinions in paragraph 3 below, the agreements and instruments of the Company set forth
on Schedule 3 hereto).

	 	(I)	 	All conditions precedent to the effectiveness of the Transaction Documents have
been satisfied or waived.

Based upon the foregoing and upon such investigation as we have deemed necessary, and subject
to the qualifications set forth below, we are of the opinion that:

1. Based solely on the Good Standing Certificate, the Company is a cooperative corporation
that is validly existing and in good standing under the laws of the State of Minnesota.

2. The Company has the corporate power to execute, deliver and perform each of the Transaction
Documents executed by it, and has taken all requisite corporate action to authorize the execution,
delivery and performance of each of the Transaction Documents executed by it. Each of the
Transaction Documents has been duly executed and delivered by the Company.

3. The execution, delivery and performance of the Transaction Documents by the Company do not
and will not (i) violate or cause a breach of any statute of the United States or the States of
Minnesota or New York, or any rule or regulation of any governmental authority or regulatory body
of the United States or the States of Minnesota or New York (including without limitation,
Regulations T, U or X of the Board of Governors of the Federal Reserve System) or (ii) violate or
cause a breach of, or constitute a default under, (A) any provision of the Constituent Documents or
(B) the agreements and instruments of the Company set forth on Schedule 3 hereto (other
than violations of any financial covenant, financial test or any other provision requiring
calculations or applications of formulas to determine compliance contained in such agreements and
instruments, as to which we give no opinion).

4. No consent, approval, authorization of, or registration or filing with, any State of
Minnesota or New York or federal governmental authority is required to be obtained or made by the
Company to make valid and legally binding the execution, delivery and performance by the Company of
its agreements under any Transaction Document to which the Company is a party, except
such as have been obtained or made.

5. Each of the Transaction Documents executed by the Company constitutes the valid and legally
binding obligations of the Company, enforceable against the Company in accordance with its terms.

6. Assuming the representations made by the Company and the Purchasers set forth in the Note
Purchase Agreement are true and correct, and subject to the compliance of the Company and the
Purchasers with applicable securities laws and regulations, the offer, sale, issuance and delivery
of the Notes to the Purchasers, in the manner contemplated by the Note Purchase Agreement, is
exempt from the registration requirements of the Securities Act of 1933.

7. The Company is not required to register as an “investment company” under the Investment
Company Act of 1940, as amended.

8. It was not necessary in connection with the offering, sale and delivery of the Notes
purchased by the Purchasers at the Closing, under the circumstances contemplated by the Note
Purchase Agreement, to qualify an indenture in respect of the Notes under the Trust Indenture Act
of 1939, as amended.

SCOPE OF OPINION

Our opinions set forth above are further subject to the following additional qualifications:

(a) Our opinions expressed above are limited to the laws of the States of Minnesota and New
York and the federal laws of the United States of America. We assume no responsibility as to the
applicability to this transaction, or the effect thereon, of the laws of any other jurisdiction.

(b) Our opinions are subject to the effect of bankruptcy, insolvency, reorganization,
arrangement, moratorium, fraudulent transfer, statutes of limitation, or other similar laws and
judicial decisions affecting or relating to the rights of creditors generally, and are further
subject to the effect of general principles of equity, including, without limitation, concepts of
materiality, reasonableness, good faith and fair dealing, estoppel, election of remedies and other
similar doctrines affecting the enforcement of agreements generally (regardless of whether
enforcement is considered in a proceeding at law or in equity). In addition, the availability of
specific performance, injunctive relief, the appointment of a receiver, marshalling of assets, stay
or other equitable remedies is subject to the discretion of the tribunal before which any
proceeding therefor may be brought, unless such discretion is limited by an applicable statute.

(c) Our opinions are further subject to other laws and judicial decisions affecting the rights
of creditors and secured creditors generally, including, without limitation, that the
enforceability of the remedies, covenants or other provisions of the Transaction Documents and the
availability of equitable remedies may be limited where the enforcement of specific rights under a
Transaction Document may require a judgment or decree of a court of competent jurisdiction after
prior notice to the Company and an opportunity for the Company to be heard by an appropriate
tribunal.

(d) We express no opinion as to the enforceability of provisions of any Transaction Document
to the extent it contains:

(i) choice of law or forum selection provisions, or any provision which purports to
confer jurisdiction upon any court or other tribunal;

(ii) waivers by the Company of any statutory or constitutional rights, defenses or
remedies, or the right to recover certain types of damages, or the right to impose
counterclaims, or of statutes of limitation or the tolling thereof;

(iii) cumulative remedies to the extent such cumulative remedies purport to compensate,
or would have the effect of compensating, the party entitled to the benefits thereof in an
amount in excess of the actual loss suffered by such party;

(iv) provisions requiring the Company to pay any default interest rate, early
termination fee or other form of liquidated damages, if the payment of such interest rate,
fee or damages may be construed as unreasonable in relation to actual damages or
disproportionate to actual damages suffered by the Purchaser as a result of such prepayment,
default or termination;

(v) provisions requiring the Company to pay a prepayment premium upon payment in full
of the indebtedness after an acceleration thereof for default or in connection with the
payment of any amount due in redemption;

(vi) provisions to the effect that the terms of any document may not be waived or
modified orally or by course of conduct;

(vii) provisions which purport to establish evidentiary standards;

(viii) provisions which purport to grant powers of attorney to any Person;

(ix) provisions which excuse any Person or entity from liability for, or require any
Person or entity to indemnify any other Person or entity against, the indemnified Person’s
or entity’s negligence or willful misconduct, or any other indemnification agreement which
may be contrary to public policy.

(e) Except as set forth in Paragraphs 3, 4 and 6, we express no opinion as to compliance or
the effect of noncompliance by the Company with any state or federal laws or regulations applicable
to the Company in connection with the transactions described in the Transaction Documents.

(f) We express no opinion as to compliance or the effect of noncompliance by the Purchasers
with any state or federal laws or regulations applicable to the Purchasers in connection with the
transactions described in the Transaction Documents.

(g) In rendering our opinion in Paragraph 4, we are only opining as to consents, approvals,
authorizations, registrations, declarations and filings necessary for the Company to execute,
deliver and perform its obligations under the Transaction Documents, and we express no opinion with
respect to any consent, approval, authorization from, or any registration, declaration or filing
with, any governmental authority or agency required generally in connection with the day-to-day
business or operations of the Company.

(h) We express no opinion regarding any federal securities laws (except as set forth in
Paragraph 6), or the securities or “Blue Sky” laws of any state.

65

This opinion is solely for the benefit of the Purchasers (and successors and assigns permitted
under the terms of the Note Purchase Agreement) in connection with the transaction described in
this letter, may not be relied upon for any other purpose, and may not be relied upon or used by,
nor may copies hereof be delivered to, any other person or entity without our prior written
consent; except that this opinion may be disclosed to, but not relied upon by, the National
Association of Insurance Commissioners. No use of or reliance on this opinion by any party,
including, without limitation, the Purchasers, shall establish or imply an attorney-client
relationship between such party and this firm with respect to the Transaction Documents or the
transactions contemplated by the Transaction Documents, and such party by using or relying on our
opinion disclaims any such attorney-client relationship with respect to the Transaction Documents
or the transactions contemplated by the Transaction Documents for any purpose without our prior
written approval. We disclaim any obligation to update this opinion letter for events occurring or
coming to our attention, or any changes in the law taking effect, after the date hereof.

	 	 	 	Very
truly yours,

	 	 	 
	DPS/SK

Attachments:
	 	

Schedule 1 – Purchasers

Schedule 2 – Transaction Documents

Schedule 3 – Agreements and Instruments

Annex A – Offeree Letter

Schedule 1

Opinion of Dorsey & Whitney LLP

June 9, 2011

Purchasers

The Variable Annuity Life Insurance Company

c/o AIG Asset Management

2929 Allen Parkway

Houston, Texas 77019

New York Life Insurance Company

c/o New York Life Investment Management LLC

51 Madison Avenue

New York, New York 10010

New York Life Insurance and Annuity Corporation

c/o New York Life Investment Management LLC

51 Madison Avenue

New York, New York 10010

New York Life Insurance and Annuity Corporation

Institutionally Owned Life Insurance Separate Account (BOLI 30C)

c/o New York Life Investment Management LLC

51 Madison Avenue

New York, New York 10010

New York Life Insurance and Annuity Corporation

Institutionally Owned Life Insurance Separate Account (BOLI 3-2)

c/o New York Life Investment Management LLC

51 Madison Avenue

New York, New York 10010

The Northwestern Mutual Life Insurance Company

720 East Wisconsin Avenue

Milwaukee, WI 53202

The Northwestern Mutual Life Insurance Company for

its Group Annuity Separate Account

720 East Wisconsin Avenue

Milwaukee, WI 53202

Massachusetts Mutual Life Insurance Company

c/o Babson Capital Management LLC

1500 Main Street

Springfield, MA 01115

C.M. Life Insurance Company

c/o Babson Capital Management LLC

1500 Main Street

Springfield, MA 01115

MassMutual Asia Limited

c/o Babson Capital Management LLC

1500 Main Street

Springfield, MA 01115

Aviva Life and Annuity Company

c/o Aviva Investors North America, Inc.

215 10th Street

Des Moines, IA 50309

Royal Neighbors of America

c/o Aviva Investors North America, Inc.

215 10th Street

Des Moines, IA 50309

Allianz Life Insurance Company of North America

c/o Allianz of America, Inc.

55 Greens Farms Road

Westport, Connecticut 06881

Unum Life Insurance Company of America

c/o Provident Investment Management, LLC

One Fountain Square

Chattanooga, TN 37402

Provident Life and Accident Insurance Company

c/o Provident Investment Management, LLC

One Fountain Square

Chattanooga, TN 37402

Provident Life and Casualty Insurance Company

c/o Provident Investment Management, LLC

One Fountain Square

Chattanooga, TN 37402

Hartford Life Insurance Company

c/o Hartford Investment Management Company

55 Farmington Avenue

Hartford, CT 06105

Hartford Life and Annuity Insurance Company

c/o Hartford Investment Management Company

55 Farmington Avenue

Hartford, CT 06105

Physicians Life Insurance Company

c/o Hartford Investment Management Company

55 Farmington Avenue

Hartford, CT 06105

USAA Life Insurance Company

9800 Fredericksburg Road

San Antonio, TX 78288

Casualty Insurance Company

9800 Fredericksburg Road

San Antonio, TX 78288

Catastrophe Reinsurance Company

9800 Fredericksburg Road

San Antonio, TX 78288

American Fidelity Assurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

	 	 	American-Amicable Life Insurance Company of Texas

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Vantis Life Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

	 	 	Occidental Life Insurance Company of North Carolina

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

	 	 	American Republic Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

	 	 	Trustmark Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Blue Cross and Blue Shield of Florida, Inc.

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

	 	 	GuideOne Specialty Mutual Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

	 	 	GuideOne Property & Casualty Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Catholic United Financial

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Industrial Alliance Pacific Insurance and Financial Services, Inc.

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

	 	 	MTL Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

	 	 	Fort Dearborn Life Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

	 	 	New Era Life Insurance

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Great-West Life & Annuity Insurance Company

8515 East Orchard Road, 3T2

Greenwood Village, CO 80111

Phoenix Life Insurance Company

One American Row

Hartford, CT 06102

PHL Variable Life Insurance Company

One American Row

Hartford, CT 06102

Modern Woodmen of America

1701 1st Ave

Rock Island, IL  61201

The Phoenix Insurance Company

c/o The Travelers Companies, Inc.

385 Washington St.

St. Paul, MN 55102

Travelers Casualty and Surety Company of America

c/o The Travelers Companies, Inc.

385 Washington St.

St. Paul, MN 55102

Life Insurance Company of the Southwest

c/o National Life Insurance Company

One National Life Drive

Montpelier, VT 05604

The Ohio National Life Insurance Company

One Financial Way

Cincinnati, OH 45242

Montgomery Re, Inc.

One Financial Way

Cincinnati, OH 45242

Assurity Life Insurance Company

1526 K Street

Lincoln, NE 68508

The Union Central Life Insurance Company

c/o Summit Investment Partners

390 North Cotner Blvd.

Lincoln, NE 68505

Ameritas Life Insurance Corp.

c/o Summit Investment Partners

390 North Cotner Blvd.

Lincoln, NE 68505

Ameritas Life Insurance Corp. – Closed Block

c/o Summit Investment Partners

390 North Cotner Blvd.

Lincoln, NE 68505

Acacia Life Insurance Company

c/o Summit Investment Partners

390 North Cotner Blvd.

Lincoln, NE 68505

ING Life Insurance and Annuity Company

c/o ING Investment Management LLC

5780 Powers Ferry Road NW

Atlanta, GA 30327

ING USA Annuity and Life Insurance Company

c/o ING Investment Management LLC

5780 Powers Ferry Road NW

Atlanta, GA 30327

ReliaStar Life Insurance Company

c/o ING Investment Management LLC

5780 Powers Ferry Road NW

Atlanta, GA 30327

Schedule 2

Opinion of Dorsey & Whitney LLP

June 9, 2011

Transaction Documents

	1.	 	Master Note Purchase Agreement dated as of June 9, 2011, among CHS Inc. and each of the
purchasers party thereto (“Note Purchase Agreement”).

	2.	 	The following 4.08% Series L Senior Notes due June 9, 2019, issued by the Company and
described below (the “Series L Notes”):

	 	 	 	 	 	 	 	 	 
	Notes	 	Purchaser	 	Aggregate Amount
	(RL-1 through RL-21)	 	 	 	 	 	 
	RL-1	 	New York Life Insurance Company
	 	$	27,500,000	 
	 	 	 	 	 
	 	 	 	 
	RL-2	 	New York Life Insurance and Annuity
	 	$	38,500,000	 
	 	 	 	 	Corporation
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RL-3	 	New York Life Insurance and Annuity
	 	$	3,000,000	 
	 	 	 	 	Corporation Institutionally Owned
Life Insurance Separate Account (BOLI
30C)
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RL-4	 	New York Life Insurance and Annuity
	 	$	1,000,000	 
	 	 	 	 	Corporation Institutionally Owned
Life Insurance Separate Account (BOLI
3-2)
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RL-5	 	Aviva Life and Annuity Company
	 	$	8,000,000	 
	 	 	 	 	 
	 	 	 	 
	RL-6	 	Hartford Life Insurance Company
	 	$	5,000,000	 
	 	 	 	 	 
	 	 	 	 
	RL-7	 	Hartford Life Insurance Company
	 	$	5,000,000	 
	 	 	 	 	 
	 	 	 	 
	RL-8	 	Hartford Life Insurance Company
	 	$	5,000,000	 
	 	 	 	 	 
	 	 	 	 
	RL-9	 	Hartford Life Insurance Company
	 	$	2,000,000	 
	 	 	 	 	 
	 	 	 	 
	RL-10	 	Hartford Life and Annuity Insurance
	 	$	5,000,000	 
	 	 	 	 	Company
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RL-11	 	Hartford Life and Annuity Insurance
	 	$	1,000,000	 
	 	 	 	 	Company
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RL-12	 	Physicians Life Insurance Company
	 	$	500,000	 
	 	 	 	 	 
	 	 	 	 
	RL-13	 	Physicians Life Insurance Company
	 	$	500,000	 
	 	 	 	 	 
	 	 	 	 
	RL-14	 	USAA Life Insurance Company
	 	$	12,000,000	 
	 	 	 	 	 
	 	 	 	 
	RL-15	 	Casualty Insurance Company
	 	$	5,000,000	 
	 	 	 	 	 
	 	 	 	 
	RL-16	 	Catastrophe Reinsurance Company
	 	$	3,000,000	 
	 	 	 	 	 
	 	 	 	 
	RL-17	 	American Republic Insurance Company
	 	$	1,300,000	 
	 	 	 	 	 
	 	 	 	 
	RL-18	 	Blue Cross and Blue Shield of
	 	$	900,000	 
	 	 	 	 	Florida, Inc.
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RL-19	 	GuideOne Specialty Mutual Insurance
	 	$	900,000	 
	 	 	 	 	Company
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RL-20	 	GuideOne Property & Casualty
	 	$	900,000	 
	 	 	 	 	Insurance Company
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RL-21	 	The Phoenix Insurance Company
	 	$	4,000,000	 
	 	 	 	 	 
	 	 	 	 

	3.	 	The following 4.52% Series M Senior Notes due June 9, 2021, issued by the Company and
described below (the “Series M Notes”):

	 	 	 	 	 	 	 	 	 
	Notes	 	Purchaser	 	Aggregate Amount
	(RM-1 through RM-28)	 	 	 	 	 	 
	RM-1	 	The Variable Annuity Life
	 	$	70,000,000	 
	 	 	 	 	Insurance Company
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RM-2	 	The Northwestern Mutual Life
	 	$	24,000,000	 
	 	 	 	 	Insurance Company
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RM-3	 	The Northwestern Mutual Life
	 	$	1,000,000	 
	 	 	 	 	Insurance Company for its Group
Annuity Separate Account
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RM-4	 	Massachusetts Mutual Life
	 	$	17,800,000	 
	 	 	 	 	Insurance Company
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RM-5	 	C.M. Life Insurance Company
	 	$	1,500,000	 
	 	 	 	 	 
	 	 	 	 
	RM-6	 	MassMutual Asia Limited
	 	$	700,000	 
	 	 	 	 	 
	 	 	 	 
	RM-7	 	Vantis Life Insurance Company
	 	$	1,500,000	 
	 	 	 	 	 
	 	 	 	 
	RM-8	 	Catholic United Financial
	 	$	750,000	 
	 	 	 	 	 
	 	 	 	 
	RM-9	 	Industrial Alliance Pacific
	 	$	750,000	 
	 	 	 	 	Insurance and Financial
Services, Inc.
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RM-10	 	Fort Dearborn Life Insurance
	 	$	500,000	 
	 	 	 	 	Company
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RM-11	 	Fort Dearborn Life Insurance
	 	$	500,000	 
	 	 	 	 	Company
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RM-12	 	Fort Dearborn Life Insurance
	 	$	500,000	 
	 	 	 	 	Company
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RM-13	 	Fort Dearborn Life Insurance
	 	$	500,000	 
	 	 	 	 	Company
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RM-14	 	Fort Dearborn Life Insurance
	 	$	500,000	 
	 	 	 	 	Company
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RM-15	 	New Era Life Insurance
	 	$	500,000	 
	 	 	 	 	 
	 	 	 	 
	RM-16	 	Great-West Life & Annuity
	 	$	3,500,000	 
	 	 	 	 	Insurance Company
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RM-17	 	Great-West Life & Annuity
	 	$	500,000	 
	 	 	 	 	Insurance Company
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RM-18	 	Modern Woodmen of America
	 	$	6,000,000	 
	 	 	 	 	 
	 	 	 	 
	RM-19	 	Travelers Casualty and Surety
	 	$	4,000,000	 
	 	 	 	 	Company of America
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RM-20	 	Life Insurance Company of the
	 	$	7,000,000	 
	 	 	 	 	Southwest
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RM-21	 	The Ohio National Life Insurance
	 	$	3,000,000	 
	 	 	 	 	Company
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RM-22	 	Montgomery Re, Inc.
	 	$	1,000,000	 
	 	 	 	 	 
	 	 	 	 
	RM-23	 	The Union Central Life Insurance
	 	$	2,000,000	 
	 	 	 	 	Company
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RM-24	 	Ameritas Life Insurance Corp. -
	 	$	1,000,000	 
	 	 	 	 	Closed Block
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RM-25	 	Acacia Life Insurance Company
	 	$	1,000,000	 
	 	 	 	 	 
	 	 	 	 
	RM-26	 	ING Life Insurance and Annuity
	 	$	2,500,000	 
	 	 	 	 	Company
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RM-27	 	ING USA Annuity and Life
	 	$	3,200,000	 
	 	 	 	 	Insurance Company
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RM-28	 	Reliastar Life Insurance Company
	 	$	4,300,000	 
	 	 	 	 	 
	 	 	 	 

	4.	 	The following 4.67% Series N Senior Notes due June 9, 2023, issued by the Company and
described below (the “Series N Notes”):

	 	 	 	 	 	 	 	 	 
	Notes	 	Purchaser	 	Aggregate Amount
	(RN-1 through RN-18)	 	 	 	 	 	 
	RN-1	 	The Northwestern Mutual Life
	 	$	21,000,000	 
	 	 	 	 	Insurance Company
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RN-2	 	Massachusetts Mutual Life Insurance
	 	$	19,500,000	 
	 	 	 	 	Company
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RN-3	 	C.M. Life Insurance Company
	 	$	1,700,000	 
	 	 	 	 	 
	 	 	 	 
	RN-4	 	MassMutual Asia Limited
	 	$	800,000	 
	 	 	 	 	 
	 	 	 	 
	RN-5	 	Aviva Life and Annuity Company
	 	$	12,000,000	 
	 	 	 	 	 
	 	 	 	 
	RN-6	 	Allianz Life Insurance Company of
	 	$	17,000,000	 
	 	 	 	 	North America
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RN-7	 	Trustmark Insurance Company
	 	$	1,000,000	 
	 	 	 	 	 
	 	 	 	 
	RN-8	 	MTL Insurance Company
	 	$	500,000	 
	 	 	 	 	 
	 	 	 	 
	RN-9	 	Great-West Life & Annuity Insurance
	 	$	10,000,000	 
	 	 	 	 	Company
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RN-10	 	Phoenix Life Insurance Company
	 	$	4,000,000	 
	 	 	 	 	 
	 	 	 	 
	RN-11	 	Modern Woodmen of America
	 	$	3,000,000	 
	 	 	 	 	 
	 	 	 	 
	RN-12	 	Montgomery Re, Inc.
	 	$	2,500,000	 
	 	 	 	 	 
	 	 	 	 
	RN-13	 	Assurity Life Insurance Company
	 	$	2,000,000	 
	 	 	 	 	 
	 	 	 	 
	RN-14	 	The Union Central Life Insurance
	 	$	2,000,000	 
	 	 	 	 	Company
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RN-15	 	Ameritas Life Insurance Corp.
	 	$	1,000,000	 
	 	 	 	 	 
	 	 	 	 
	RN-16	 	ING Life Insurance and Annuity Company
	 	$	7,900,000	 
	 	 	 	 	 
	 	 	 	 
	RN-17	 	ING USA Annuity and Life Insurance
	 	$	10,100,000	 
	 	 	 	 	Company
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RN-18	 	Reliastar Life Insurance Company
	 	$	14,000,000	 
	 	 	 	 	 
	 	 	 	 

	5.	 	The following 4.82% Series O Senior Notes due June 9, 2026, issued by the Company and
described below (the “Series O Notes” and collectively with the Series L Notes, the
Series M Notes and the Series N Notes, the “Notes”):

	 	 	 	 	 	 	 	 	 
	Notes	 	Purchaser	 	Aggregate Amount
	(RO-1 through RO-11)	 	 	 	 	 	 
	RO-1	 	Aviva Life and Annuity Company
	 	$	17,000,000	 
	 	 	 	 	 
	 	 	 	 
	RO-2	 	Royal Neighbors of America
	 	$	3,000,000	 
	 	 	 	 	 
	 	 	 	 
	RO-3	 	Allianz Life Insurance Company of
	 	$	20,000,000	 
	 	 	 	 	North America
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RO-4	 	Unum Life Insurance Company of America
	 	$	10,000,000	 
	 	 	 	 	 
	 	 	 	 
	RO-5	 	Provident Life and Accident Insurance
	 	$	10,000,000	 
	 	 	 	 	Company
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RO-6	 	Provident Life and Casualty Insurance
	 	$	10,000,000	 
	 	 	 	 	Company
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RO-7	 	American Fidelity Assurance Company
	 	$	1,800,000	 
	 	 	 	 	 
	 	 	 	 
	RO-8	 	American-Amicable Life Insurance
	 	$	1,800,000	 
	 	 	 	 	Company of Texas
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RO-9	 	Occidental Life Insurance Company of
	 	$	1,400,000	 
	 	 	 	 	North Carolina
	 	 	 	 
	 	 	 	 	 
	 	 	 	 
	RO-10	 	PHL Variable Insurance Company
	 	$	4,000,000	 
	 	 	 	 	 
	 	 	 	 
	RO-11	 	PHL Variable Insurance Company
	 	$	1,000,000	 
	 	 	 	 	 
	 	 	 	 

Schedule 3

Opinion of Dorsey & Whitney LLP

June 9, 2011

Agreements and Instruments

	1.	 	Limited Liability Company Agreement for Wilsey-Holsum Foods, LLC, dated July 24, 1996

	2.	 	Limited Liability Company Agreement for United Harvest, LLC dated November 9, 1998

	3.	 	Note Agreement dated June 19, 1998 ($225,000,000 6.81% Series A Senior Notes due June 19,
2013)

	 	a.	 	First Amendment to the Note Agreement (undated)

	4.	 	2003 Amended and Restated Credit Agreement (2 Year Revolving Loan) dated December 16, 2003

	 	a.	 	First Amendment to the 2003 Amended and Restated Credit Agreement dated December
2005

	 	b.	 	Second Amendment to the 2003 Amended and Restated Credit Agreement dated June 30,
2006

	 	c.	 	Third Amendment to the 2003 Amended and Restated Credit Agreement dated December
13, 2006

	 	d.	 	Fourth Amendment to the 2003 Amended and Restated Credit Agreement dated
September 17, 2007

	 	e.	 	Fifth Amendment to the 2003 Amended and Restated Credit Agreement dated November
7, 2007

	 	f.	 	Sixth Amendment to the Credit Agreement dated December 12, 2008

	 	g.	 	Seventh Amendment to the 2003 Amended and Restated Credit Agreement dated
December 16, 2009

	5.	 	Limited Liability Company Agreement dated August 26, 2002, between Cenex Harvest States
Cooperatives and Cargill, Inc., with respect to TEMCO

	6.	 	Note Purchase Agreement dated October 18, 2002 ($115,000,000 4.96% Series D Senior Notes due
October 18, 2012, $60,000,000 5.60% Series E Senior Notes due October 18, 2017)

	7.	 	Note Purchase and Private Shelf Agreement dated April 13, 2004 ($15,000,000 4.08% Series F
Senior Notes due April 13, 2010, $15,000,000 4.39% Series G Notes due April 13, 2011,
$70,000,000 Private Shelf Facility)

	 	a.	 	Amendment No. 1 to the Note Purchase and Private Shelf Agreement dated April 9,
2007

	 	b.	 	Amendment No. 2 to the Note Purchase and Private Shelf Agreement dated January
18, 2008

	 	c.	 	Amendment No. 3 to the Note Purchase and Private Shelf Agreement dated November
1, 2010

	8.	 	Note Purchase Agreement dated September 21, 2004 ($125,000,000 5.25% Series H Senior Notes
due September 21, 2014)

	9.	 	Purchase and Sale Agreement between Cofina Funding, LLC and Cofina Financial, LLC dated
August 10, 2005

	 	a.	 	Lockbox Agreement dated August 10, 2005

	 	b.	 	Custodian Agreement between Cofina Funding, LLC, U.S. Bank National Association
as Trustee, and U.S. Bank National Association, as Custodian, dated August 10, 2005

	 	c.	 	Servicing Agreement between Cofina Funding, LLC, Cofina Financial, LLC, and U.S.
Bank National Association as Trustee dated August 10, 2005

	 	d.	 	Note Purchase Agreement between Cofina Funding, LLC, Bank Hapoalim B.M. and the
Committed Purchasers, dated August 10, 2005

	 	e.	 	Amended and Restated Base Indenture between Cofina Funding, LLC and U.S. Bank
National Association dated December 23, 2010

	 	i.	 	Series 2005-A Supplement to the Base Indenture dated August 10, 2005

	 	ii.	 	Omnibus Amendment and Agreement between Cofina Funding, LLC, Cofina
Financial LLC, Cenex Finance Association, Inc., Bank Hapoalim B.M., and U.S. Bank
National Association, dated August 30, 2005

	 	iii.	 	Series 2005-B Supplement to the Base Indenture dated November 18,
2005

	 	iv.	 	Series 2006-A Supplement to the Base Indenture dated February 21,
2006

	 	v.	 	Omnibus Amendment and Agreement dated May 11, 2006

	 	 	 
	vi.

vii.

viii.

ix.

	 	Series 2006-B Supplement to the Base Indenture dated May 16, 2006

Omnibus Amendment and Agreement No. 2, dated October 1, 2007

Omnibus Amendment and Agreement No. 3 dated May 16, 2008

Series 2008-A Supplement to the Base Indenture dated November 1, 2008

	 	x.	 	Amendment No. 3 to Series 2008-A Supplement to the Base Indenture
dated November 12, 2010

	 	xi.	 	Series 2010-A Supplement dated December 23, 2010

	 	f.	 	Note Purchase Agreement between Cofina Funding, LLC, Venus Funding Corporation,
and Bank Hapoalim, B.M. and committed purchasers, dated November 18, 2005

	 	i.	 	First Amendment to the Note Purchase Agreement dated November 6, 2008

	 	g.	 	Note Purchase Agreement between Cofina Funding, LLC, Venus Funding Corporation,
and Bank Hapoalim B.M. dated February 21, 2006

	 	i.	 	First Amendment to the Note Purchase Agreement dated February 20,
2007

	 	ii.	 	Second Amendment to the Note Purchase Agreement dated February 19,
2008

	 	h.	 	Note Purchase Agreement between Cofina Funding, LLC, Voyager Funding Corporation,
Bank Hapoalim B.M., and the Committed Purchasers dated May 16, 2006

	 	i.	 	First Amendment to the Note Purchase Agreement dated May 15, 2007

	 	ii.	 	Second Amendment to the Note Purchase Agreement dated May 13, 2008

	 	i.	 	Amended and Restated Loan Origination and Participation Agreement between AgStar
Financial Services, PCA d/b/a ProPartners Financial, CHS Inc. and Cofina Financial, LLC
dated October 31, 2006

	 	i.	 	Amendment to the Amended and Restated Loan Origination Agreement

	 	ii.	 	Amendment to the Amended and Restated Loan Origination Agreement

	 	iii.	 	Amendment to the Amended and Restated Loan Origination Agreement

	 	j.	 	Note Purchase Agreement between Cofina Funding, LLC, Victory Receivables
Corporation, The Bank of Tokyo-Mitsubishi UFJ, Ltd., New York Branch, and the Committed
Purchasers dated November 21, 2008

	 	i.	 	Amendment No. 1 to the Note Purchase Agreement (Series 2008-A) dated
February 25, 3009

	 	ii.	 	Amendment No. 2 to the Note Purchase Agreement (Series 2008-A) dated
November 20, 2009

	 	iii.	 	Amendment No. 3 to the Note Purchase Agreement (Series 2008-A) dated
November 12, 2010

	 	k.	 	Note Purchase Agreement among Cofina Funding, LLC, Nieuw Amsterdam Receivables
Corporation, Cooperatieve Centrale Raiffeisen-Boerenleenbank, B.A. “Rabobank Nederland”,
New York Branch, and the Financial Institutions dated December 23, 2010

	10.	 	Commercial Paper Dealer Agreement between CHS Inc. and SunTrust Capital Markets, Inc. dated
October 6, 2006

	11.	 	Commercial Paper Dealer Agreement between CHS Inc. and M&I Marshall & Ilsley Bank dated
October 30, 2006

	12.	 	Bond Purchase Agreement between National Cooperative Refinery Association and City of
McPherson, Kansas, dated December 18, 2006

	 	a.	 	Taxable Industrial Revenue Bond Series 2006

	 	b.	 	Trust Indenture between City of McPherson, Kansas and Security Bank of Kansas
City, as Trustee

	13.	 	Note Purchase Agreement dated October 4, 2007 ($400,000,000 6.18% Series I Senior Notes due
October 4, 2017)

	14.	 	10 Year Term Loan Credit Agreement between CoBank, ACB and CHS Inc. dated December 12, 2007

	 	a.	 	First Amendment to the Term Loan Credit Agreement dated May 1, 2008

	 	b.	 	Second Amendment to the Term Loan Credit Agreement dated June 2, 2010

	15.	 	CHS Inc. $50,000,000 Private Shelf Facility Agreement dated August 11, 2008

	16.	 	2010 Credit Agreement (Revolving Loan) between CHS Inc. and the Syndication Parties dated
June 2, 2010

	17.	 	2010 364-Day Credit Agreement (Revolving Loan) between CHS Inc. and the Syndication Parties
dated November 24, 2010

	18.	 	Revolving Loan Agreement between CHS Inc. and European Bank for Reconstruction and
Development dated November 30, 2010

	19.	 	Revolving Credit Agreement ($40 million) between CHS Inc. and Sumitomo Mitsui Banking
Corporation dated December 22, 2010

	20.	 	Loan Agreement (Term Loan) between CHS Inc. and European Bank for Reconstruction and
Development dated January 5, 2011

Offeree Letter

[See Attached]

EXHIBIT 4.4(b)

FORM OF OPINION OF SPECIAL COUNSEL FOR THE PURCHASERS

June 9, 2011

To the Purchasers set forth

on Annex 1 hereto

Re: CHS Inc.

	 	 	 	$130,000,000 4.08% Series L Senior Notes due June 9, 2019

	 	 	 	$160,000,000 4.52% Series M Senior Notes due June 9, 2021

	 	 	 	$130,000,000 4.67% Series N Senior Notes due June 9, 2023

	 	 	 	$80,000,000 4.82% Series O Senior Notes due June 9, 2026

Ladies and Gentlemen:

We have acted as special counsel for each of the Purchasers named on Annex I hereto (the
“Purchasers”) in connection with that certain Master Note Purchase Agreement dated as of June 9,
2011 (the “Note Purchase Agreement”) by and among the CHS Inc., a Minnesota nonstock agricultural
cooperative corporation (the “Company”) and the Purchasers which provides, among other things, for
the issuance and sale by the Company of its (a) 4.08% Series L Senior Notes due June 9, 2019 in the
aggregate principal amount of One Hundred Thirty Million Dollars ($130,000,000); (b) 4.52% Series M
Senior Notes due June 9, 2021 in the aggregate principal amount of One Hundred Sixty Million
Dollars ($160,000,000); (c) 4.67% Series N Senior Notes due June 9, 2023 in the aggregate principal
amount of One Hundred Thirty Million Dollars ($130,000,000); (d) 4.82% Series O Senior Notes due
June 9, 2026 in the aggregate principal amount of Eighty Million Dollars ($80,000,000)
(collectively, the “Notes”).

Capitalized terms used herein, and not defined herein, have the respective meanings ascribed
to them pursuant to the terms of the Note Purchase Agreement. This opinion is delivered to you
pursuant to Section 4.4(b) of the Note Purchase Agreement. Our representation of the Purchasers
has been as special counsel for the purposes stated above.

In connection with this opinion, we have examined originals or copies of the following
documents:

	 	(i)	 	the Note Purchase Agreement;

	 	(ii)	 	the Notes;

	 	(iii)	 	a certificate of the Secretary of the Company, dated the date hereof,
delivered pursuant to Section 4.3(b) of the Note Purchase Agreement, certifying that
the copies attached thereto of the Company’s articles of incorporation and by-laws (the
“Company’s Governing Documents”) and those certain resolutions passed by the Board of
Directors of the Company authorizing participation in the transactions contemplated by
the Notes and the Note Purchase Agreement are true, complete and correct copies thereof
and are in full force and effect, and as to the incumbency and specimen signatures of
certain officers of the Company;

	 	(iv)	 	an Officer’s Certificate on behalf of the Company, dated the date hereof and
delivered pursuant to Section 4.3(a) of the Note Purchase Agreement, with respect to
the matters set forth therein;

	 	(v)	 	a cross receipt acknowledging payment and receipt of the purchase price for the
Notes (the “Cross Receipt”);

	 	(vi)	 	a letter from SunTrust Robinson Humphrey, Inc. and U.S. Bancorp Investments,
Inc., dated [      ], 2011, making certain representations with respect to the manner in
which the Notes were offered (the “Offeree Letter”); and

	 	(vii)	 	the opinion of Dorsey & Whitney LLP, counsel for the Company, dated the date
hereof and delivered to the Purchasers pursuant to Section 4.4(a) of the Note Purchase
Agreement.

The Note Purchase Agreement and the Notes are sometimes referred to herein as the “Financing
Documents.” This opinion is based entirely on our review of the documents listed in the preceding
paragraph and we have made no other documentary review or investigation for purposes of this
opinion. Based on such investigation as we have deemed appropriate, the opinion referred to in
clause (vii) above is satisfactory in form and scope to us, and, in our opinion, you are justified
in relying thereon.

As to all matters of fact (including factual conclusions and characterizations and
descriptions of purpose, intention or other state of mind), we have relied, with your permission,
entirely upon (1) the representations and warranties of the Company and the Purchasers set forth in
the Note Purchase Agreement, (2) the correctness of all statements set forth in the certificates
described in paragraphs (iii) and (iv) above, and (3) the Offeree Letter, and have assumed, without
independent inquiry, the accuracy of such representations, warranties, certificates and letter.

We have assumed the genuineness of all signatures, the conformity to the originals of all
documents reviewed by us as copies, the authenticity and completeness of all original documents
reviewed by us in original or copy form, the legal competence of each individual executing any
document and that each Person executing the Financing Documents validly exists and is in good
standing under the laws of the jurisdiction in which it was organized, had and has the power and
authority to enter into and perform its obligations under the Financing Documents under its
governing organizational documents, applicable enterprise legislation and other applicable law, and
is qualified to do business and is in good standing under the laws of each jurisdiction where such
qualification is required generally or necessary in order for such party to enforce its rights
under such documents. We have further assumed that such documents have been duly authorized,
executed and delivered by each Person executing such documents and, as to Persons other than the
Company, are binding upon and enforceable against, such Persons. In addition, we have relied upon
the Offeree Letter without independent investigation.

For purposes of this opinion, we have made such examination of law as we have deemed
necessary. Except to the extent addressed in paragraph 5 below, this opinion is limited solely to
the internal substantive laws of the State of New York as applied by courts located in the State of
New York without regard to choice of law, and the federal laws of the United States of America
(except for federal and state tax, energy, utilities, agriculture, national security, anti-money
laundering, or antitrust laws, as to which we express no opinion), and we express no opinion as to
the laws of any other jurisdiction. Our opinion in paragraph 2 below is based solely on a review
of the Company’s Governing Documents, and we have not made any analysis of the internal substantive
law of the jurisdiction of organization of the Company, including statutes, rules or regulations or
any interpretations thereof by any court, administrative body, or other Governmental Authority. We
express no opinion in paragraph 2 below as to the internal substantive law of the Company’s
jurisdiction of organization. We note that the Financing Documents contain provisions stating that
they are to be governed by the laws of the State of New York (each, a “Chosen-Law Provision”).
Except to the extent addressed below in paragraph 5, no opinion is given herein as to any
Chosen-Law Provision, or otherwise as to the choice of law or internal substantive rules of law
that any court or other tribunal may apply to the transactions contemplated by the Financing
Documents. Except as set forth in paragraph 4 below, we express no opinions as to any securities
or “blue sky” laws of any jurisdiction.

Our opinion is further subject to the following exceptions, qualifications and assumptions,
all of which we understand to be acceptable to you:

(a) We have assumed without any independent investigation (i) that the execution,
delivery and performance by each of the parties thereto of the Financing Documents do not
and will not conflict with, or result in a breach of, the terms, conditions or provisions
of, or result in a violation of, or constitute a default or require any consent (other than
such consents as have been duly obtained) under, any organizational document other than the
Governing Documents of the Company (including, without limitation, applicable corporate
charter documents and by-laws), any order, judgment, arbitration award or stipulation, or
any agreement, to which any of such parties is a party or is subject or by which any of the
properties or assets of any of such parties is bound, (ii) that the statements regarding
delivery and receipt of documents and funds referred to in the Cross Receipt between you and
the Company are true and correct, and (iii) that the Financing Documents are a valid and
binding obligation of each party thereto to the extent that laws other than those of the
State of New York are relevant thereto (other than the laws of the United States of America,
but only to the limited extent the same may be applicable to the Company and relevant to our
opinions expressed below).

(b) The enforcement of any obligations of any Person under any Financing Document or
otherwise may be limited by or subject to bankruptcy, insolvency, reorganization,
moratorium, marshaling or other laws and rules of law affecting the enforcement generally of
creditors’ rights and remedies (including such as may deny giving effect to waivers of
debtors’ or guarantors’ rights), and we express no opinion as to the status under any
fraudulent conveyance laws or fraudulent transfer laws of any of the obligations of any
Person under the Financing Documents or otherwise.

(c) We express no opinion as to the availability of any specific or equitable relief of
any kind.

(d) The enforcement of any of the Purchasers’ rights may in all cases be subject to an
implied duty of good faith and fair dealing and to general principles of equity (regardless
of whether such enforceability is considered in a proceeding at law or in equity).

(e) We express no opinion as to the enforceability of any particular provision of any
of the Financing Documents relating to (i) waivers of rights to object to jurisdiction or
venue, or consents to jurisdiction or venue, (ii) waivers of rights to (or methods of)
service of process, or rights to trial by jury, or other rights or benefits bestowed by
operation of law, (iii) waivers of any applicable defenses, setoffs, recoupments, or
counterclaims, (iv) exculpation or exoneration clauses, clauses relating to rights of
indemnity or contribution, and clauses relating to releases or waivers of unmatured claims
or rights or (v) waivers or variations of legal provisions or rights which are not capable
of waiver or variation under applicable law.

(f) Our opinion in paragraph 3 below is based solely on a review of generally
applicable laws of the State of New York and the United States of America and not on any
search with respect to, or review of, any orders, decrees, judgments or other determinations
specifically applicable to the Company.

(g) We express no opinion as to the effect of events occurring, circumstances arising,
or changes of law becoming effective or occurring after the date hereof on the matters
addressed in this opinion letter, and we assume no responsibility to inform you of
additional or changed facts, or changes in law, of which we may become aware.

Based on the foregoing, we are of the opinion that:

1. Each of the Note Purchase Agreement and the Notes constitutes the legal, valid and binding
obligation of the Company, enforceable against the Company in accordance with its respective terms.

2. The execution and delivery by the Company of the Note Purchase Agreement and the Notes, the
issuance and sale of the Notes and performance by the Company of its obligations under the
Transaction Documents will not constitute a violation of its Governing Documents.

3. No consents, approvals or authorizations of Governmental Authorities of the State of New
York or the United States of America are required under the laws of the State of New York or the
United States of America on behalf of the Company in connection with (a) the execution and delivery
by the Company of the Financing Documents or (b) the offer, issuance, sale and delivery of the
Notes by the Company, on the date hereof.

4. It is not necessary either to register the offer and sale of the Notes to you under the
circumstances contemplated by the Transaction Documents under the Securities Act of 1933, as
amended, or to qualify an indenture in respect of the issuance of the Notes to you under the Trust
Indenture Act of 1939, as amended.

5. Each Chosen-Law Provision is enforceable in accordance with New York General Obligations
Law section 5-1401, as applied by a New York State court or a federal court sitting in New York and
applying New York choice of law principles.

This opinion is delivered solely to the Purchasers and for the benefit of the Purchasers in
connection with the Note Purchase Agreement and may not be relied upon by the Purchasers for any
other purpose or relied upon by any other person or entity (other than future holders of Notes
acquired in accordance with the terms of the Financing Documents) for any reason without our prior
written consent.

Very truly yours,

BINGHAM McCUTCHEN LLP

Annex 1

Purchasers

The Variable Annuity Life Insurance Company

c/o AIG Asset Management

2929 Allen Parkway

Houston, Texas 77019

New York Life Insurance Company

c/o New York Life Investment Management LLC

51 Madison Avenue

New York, New York 10010

New York Life Insurance and Annuity Corporation

c/o New York Life Investment Management LLC

51 Madison Avenue

New York, New York 10010

New York Life Insurance and Annuity Corporation

Institutionally Owned Life Insurance Separate Account (BOLI 30C)

c/o New York Life Investment Management LLC

51 Madison Avenue

New York, New York 10010

New York Life Insurance and Annuity Corporation

Institutionally Owned Life Insurance Separate Account (BOLI 3-2)

c/o New York Life Investment Management LLC

51 Madison Avenue

New York, New York 10010

The Northwestern Mutual Life Insurance Company

720 East Wisconsin Avenue

Milwaukee, WI 53202

The Northwestern Mutual Life Insurance Company for

its Group Annuity Separate Account

720 East Wisconsin Avenue

Milwaukee, WI 53202

Massachusetts Mutual Life Insurance Company

c/o Babson Capital Management LLC

1500 Main Street

Springfield, MA 01115

C.M. Life Insurance Company

c/o Babson Capital Management LLC

1500 Main Street

Springfield, MA 01115

MassMutual Asia Limited

c/o Babson Capital Management LLC

1500 Main Street

Springfield, MA 01115

Aviva Life and Annuity Company

c/o Aviva Investors North America, Inc.

215 10th Street

Des Moines, IA 50309

Royal Neighbors of America

c/o Aviva Investors North America, Inc.

215 10th Street

Des Moines, IA 50309

Allianz Life Insurance Company of North America

c/o Allianz of America, Inc.

55 Greens Farms Road

Westport, Connecticut 06881

Unum Life Insurance Company of America

c/o Provident Investment Management, LLC

One Fountain Square

Chattanooga, TN 37402

Provident Life and Accident Insurance Company

c/o Provident Investment Management, LLC

One Fountain Square

Chattanooga, TN 37402

Provident Life and Casualty Insurance Company

c/o Provident Investment Management, LLC

One Fountain Square

Chattanooga, TN 37402

Hartford Life Insurance Company

c/o Hartford Investment Management Company

55 Farmington Avenue

Hartford, CT 06105

Hartford Life and Annuity Insurance Company

c/o Hartford Investment Management Company

55 Farmington Avenue

Hartford, CT 06105

Physicians Life Insurance Company

c/o Hartford Investment Management Company

55 Farmington Avenue

Hartford, CT 06105

USAA Life Insurance Company

9800 Fredericksburg Road

San Antonio, TX 78288

Casualty Insurance Company

9800 Fredericksburg Road

San Antonio, TX 78288

Catastrophe Reinsurance Company

9800 Fredericksburg Road

San Antonio, TX 78288

American Fidelity Assurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

American-Amicable Life Insurance Company of Texas

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Vantis Life Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Occidental Life Insurance Company of North Carolina

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

American Republic Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Trustmark Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Blue Cross and Blue Shield of Florida, Inc.

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

GuideOne Specialty Mutual Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

GuideOne Property & Casualty Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Catholic United Financial

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Industrial Alliance Pacific Insurance and Financial Services, Inc.

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

MTL Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Fort Dearborn Life Insurance Company

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

New Era Life Insurance

c/o Advantus Capital Management, Inc.

400 Robert Street North

St. Paul, MN 55101

Great-West Life & Annuity Insurance Company

8515 East Orchard Road, 3T2

Greenwood Village, CO 80111

Phoenix Life Insurance Company

One American Row

Hartford, CT 06102

PHL Variable Life Insurance Company

One American Row

Hartford, CT 06102

Modern Woodmen of America

1701 1st Ave

Rock Island, IL  61201

The Phoenix Insurance Company

c/o The Travelers Companies, Inc.

385 Washington St.

St. Paul, MN 55102

Travelers Casualty and Surety Company of America

c/o The Travelers Companies, Inc.

385 Washington St.

St. Paul, MN 55102

Life Insurance Company of the Southwest

c/o National Life Insurance Company

One National Life Drive

Montpelier, VT 05604

The Ohio National Life Insurance Company

One Financial Way

Cincinnati, OH 45242

Montgomery Re, Inc.

One Financial Way

Cincinnati, OH 45242

Assurity Life Insurance Company

1526 K Street

Lincoln, NE 68508

The Union Central Life Insurance Company

c/o Summit Investment Partners

390 North Cotner Blvd.

Lincoln, NE 68505

Ameritas Life Insurance Corp.

c/o Summit Investment Partners

390 North Cotner Blvd.

Lincoln, NE 68505

Ameritas Life Insurance Corp. – Closed Block

c/o Summit Investment Partners

390 North Cotner Blvd.

Lincoln, NE 68505

Acacia Life Insurance Company

c/o Summit Investment Partners

390 North Cotner Blvd.

Lincoln, NE 68505

ING Life Insurance and Annuity Company

c/o ING Investment Management LLC

5780 Powers Ferry Road NW

Atlanta, GA 30327

ING USA Annuity and Life Insurance Company

c/o ING Investment Management LLC

5780 Powers Ferry Road NW

Atlanta, GA 30327

ReliaStar Life Insurance Company

c/o ING Investment Management LLC

5780 Powers Ferry Road NW

Atlanta, GA 30327

66EX-10.1

Exhibit 10.1

June   , 2011

Employee Name

Via Hand Delivery:

Dear       :

The Universal Technical Institute, Inc. (“UTI”) Board of Directors has approved a special [bonus
and/or grant of stock] to you on the terms set forth in this letter. This special [bonus and/or
grant of stock] is being given to you [to recognize your efforts] and/or [to continue to motivate
and retain you] during this particularly difficult regulatory environment which effects UTI and
others in the proprietary education industry.

Under the terms of this special [bonus and/or grant of stock] you and UTI agree:

	 	1.	 	You will remain in your current position with the duties and obligations that you
currently hold and such other duties and/or positions as may be assigned to you by your
supervisor from time to time. You will continue to use your best efforts in your position
and to satisfactorily perform your duties and responsibilities.

	 	2.	 	If you remain employed by UTI through the date(s) listed below and are in Good Standing
as defined below, UTI agrees to pay to you the following [bonus/grant]:

[Retention dates and bonus/grant]

The awards listed above are gross amounts and do not include deductions for taxes or any
other appropriate payroll deductions.

	 	3.	 	In order to receive the [bonus/grant] provided in this agreement, you must be in “Good
Standing” and be actively employed and not on a leave as of the dates listed for the bonus
or grant. “Good Standing” means that you have not received a demotion, a Performance
Advisement, improvement or coaching plan, Final Warning or other written disciplinary or
coaching document within six (6) months prior to the scheduled payout or grant dates.
Further, in order to receive the [bonus/grant] provided, you must be performing in a
satisfactory manner as determined by your supervisor, at his or her discretion.

4. The terms of this letter are in addition to any other agreements you may have with
the Company.

	 	5.	 	This is not a guarantee or contract of employment and is designed only to provide
additional compensation to you in the event you are employed by UTI until at least the
dates set forth above. You remain an employee “at will” and you may be terminated by UTI at
any time, for any reason, with or without notice. UTI reserves the right to change your pay
at any time. You may also voluntarily end your employment with UTI at any time but will not
receive the bonus and/or grants provided in this agreement. In the event you are terminated
due to poor performance, misconduct or any other involuntary reason, you will not be
entitled to any of the payments and/or grants described herein.

6. In further consideration of the Company’s promises to you in this letter, you also
agree to maintain in strictest confidence the terms and existence of this agreement. In the event
you breach this confidentiality provision, UTI shall be excused from further performing any of its
obligations described in this agreement.

If you agree to the terms set forth in this letter, please sign below and return this letter to me.
I have enclosed a copy of this letter for your files. We look forward to working with you in the
coming months and appreciate your service to UTI.

Sincerely,

AGREED:       

Employee Name

Date:

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