CVR Energy, Inc. announced that, subject to market conditions, it intends to offer (the ?Offering?) for sale in a private placement pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended (the ?Securities Act?), $600 million in aggregate principal amount of senior unsecured notes due 2029 (the ?Notes?). The Notes are expected to be jointly and severally guaranteed on a senior unsecured basis by certain of the Company?s domestic subsidiaries, including each of the Company?s subsidiaries that is a borrower or guarantor under the Company?s $275 million senior secured asset based revolving credit facility. The Company intends to use the net proceeds from the Offering, together with cash on hand, to redeem all of its outstanding 5.250% Senior Notes due 2025 (the ?2025 Notes?).

The Company expects to redeem the 2025 Notes on or after February 15, 2024, at an expected redemption price equal to 100% of the principal amount thereof, plus accrued and unpaid interest, if any, on the 2025 Notes to be redeemed to the redemption date. The offer and sale of the Notes and the related guarantees have not been registered under the Securities Act, or any state securities laws, and unless so registered, these securities may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The Company plans to offer and sell these securities only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act and to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act.

This news release shall not constitute an offer to sell, or the solicitation of an offer to buy, any of these securities or any other securities, nor shall there be any sale of these securities or any other securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. This news release shall not constitute a notice of redemption under the indenture governing the 5.250% Senior Notes due 2025.