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CF Industries Enters Into Long-Term Ammonium Nitrate Supply Agreements With Orica International And Nelson Brothers, LLC

CF Industries Holdings, Inc. (NYSE:CF) today announced that it has entered into long-term ammonium nitrate (AN) supply agreements with Orica International Pte. Ltd. (“Orica”) and Nelson Brothers, LLC, a joint venture between an Orica affiliate and Nelson Brothers, Inc. Under the terms of the related agreements, CF Industries has committed to supply between 700,000 to 800,000 tons of industrial grade ammonium nitrate and ammonium nitrate solution on an annual basis for a period of at least 10 years beginning January 1, 2017.

“These agreements represent another in a series of moves that enhance long-term value for CF Industries’ shareholders and customers,” said Tony Will, president and chief executive officer, CF Industries Holdings, Inc. “The agreements will provide CF Industries a steady base demand for a majority of the production capacity from our Yazoo City Nitrogen Complex at very attractive economics. They also show the value we bring to customers as they assure Orica and Nelson Brothers access to a reliable, long-term supply of industrial grade ammonium nitrate and ammonium nitrate solution.”

Outside of Orica’s existing production facilities in Carseland, Alberta, and Geneva, Utah, CF Industries will become the companies’ primary supplier of industrial grade ammonium nitrate and ammonium nitrate solution for the U.S. and Canada markets. Product pricing under the related agreements will be tied to the cost of natural gas, providing CF Industries a defined margin.

The volumes specified under the supply agreements will require CF Industries to increase ammonium nitrate solution loading capacity and industrial grade ammonium nitrate production capacity at Yazoo City. The plant reconfiguration will begin in 2014 at an estimated total cost of $65 million.

About CF Industries Holdings, Inc.

CF Industries Holdings, Inc., through its subsidiaries, is a global leader in nitrogen and phosphate fertilizer manufacturing and distribution, serving both agricultural and industrial customers. CF Industries, headquartered in Deerfield, Illinois, operates world-class nitrogen fertilizer manufacturing complexes in the central United States and Canada; conducts phosphate mining and manufacturing operations in central Florida; and distributes plant nutrients through a system of terminals, warehouses, and associated transportation equipment located primarily in the midwestern United States. The Company also owns 50 percent interests in GrowHow UK Limited, a fertilizer manufacturer in the United Kingdom; an ammonia facility in The Republic of Trinidad and Tobago; and KEYTRADE AG, a global fertilizer trading organization headquartered near Zurich, Switzerland. CF Industries routinely posts investor announcements and additional information on the Company's Web site at www.cfindustries.com and encourages those interested in the Company to check there frequently.

Forward-Looking Statements

All statements in this communication, other than those relating to historical facts, are "forward-looking statements." These forward-looking statements are not guarantees of future performance and are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from such statements. These statements include, but are not limited to, statements about the benefits, expected timing of closing and other aspects of the proposed transactions; statements about future strategic plans; and statements about future financial and operating results. Important factors that could cause actual results to differ materially from our expectations include, among others: the cyclical nature of our business and the agricultural sector; the global commodity nature of our fertilizer products, the impact of global supply and demand on our selling prices, and the intense global competition from other fertilizer producers; conditions in the U.S. agricultural industry; reliance on third party providers of transportation services and equipment; risks associated with cyber security; weather conditions; our ability to complete our recently announced production capacity expansion projects on schedule as planned and on budget or at all; risks associated with other expansions of our business, including unanticipated adverse consequences and the significant resources that could be required; potential liabilities and expenditures related to environmental and health and safety laws and regulations; our potential inability to obtain or maintain required permits and governmental approvals or to meet financial assurance requirements from governmental authorities; future regulatory restrictions and requirements related to greenhouse gas emissions; the seasonality of the fertilizer business; the impact of changing market conditions on our forward sales programs; risks involving derivatives and the effectiveness of our risk measurement and hedging activities; the significant risks and hazards involved in producing and handling our products against which we may not be fully insured; our reliance on a limited number of key facilities; risks associated with joint ventures; acts of terrorism and regulations to combat terrorism; difficulties in securing the supply and delivery of raw materials, increases in their costs or delays or interruptions in their delivery; risks associated with international operations; losses on our investments in securities; deterioration of global market and economic conditions; our ability to manage our indebtedness; and loss of key members of management and professional staff. More detailed information about factors that may affect our performance may be found in our filings with the Securities and Exchange Commission, including our most recent periodic reports filed on Form 10-K and Form 10-Q, which are available in the Investor Relations section of the CF Industries Web site. Forward-looking statements are given only as of the date of this release and we disclaim any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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