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    IPL   AU000000IPL1

INCITEC PIVOT LIMITED

(IPL)
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General Announcement::Waggaman Update

09/12/2021 | 09:22pm EST

Waggaman Update

13 September 2021

Incitec Pivot Limited (ASX: IPL) today provided an update on the impact of Hurricane Ida on its Waggaman ammonia plant in Louisiana.

After running at nameplate capacity since the re-start at the end of May, the Waggaman plant was brought down on Saturday 28 August(1), in anticipation of the hurricane to ensure the safety of our people and to protect the plant against damage.

Inspections undertaken since the hurricane have not identified any material damage to the plant and the plant's re-start has been awaiting restoration of high voltage industrial power and utilities from third party providers. Factoring in the anticipated restoration of power and utilities, the total outage is expected to be approximately 4 weeks from the date the plant was brought down.

Based on current market prices for ammonia, and the planned restart schedule, the loss of earnings before interest and tax is approximately US$28m(2)(3) (US$21m NPAT(4)(5)).

For more information:

Investors

Media

Geoff McMurray

Matthew Flugge

General Manager Investor Relations

Group Vice President Corporate Affairs

Tel: +61 3 8695 4553

Tel: +61 3 8695 4617

Mobile: +61 418 312 773

Mobile: +61 409 705 176

geoff.mcmurray@incitecpivot.com.au

matthew.flugge@incitecpivot.com.au

This document has been authorised for release by Richa Puri, Company Secretary.

  1. US Central time.
  2. This figure reflects that IPL has called force majeure under its customer contracts for the supply of ammonia from the plant.
  3. A$38m at an exchange rate of 0.735.
  4. A$29m at an exchange rate of 0.735.
  5. Net Profit After Tax.

Incitec Pivot Limited ABN 42 004 080 264

Level 8, 28 Freshwater Place, Southbank, Victoria 3006, Australia

www.incitecpivot.com.au

Disclaimer

Incitec Pivot Limited published this content on 13 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 September 2021 01:21:05 UTC.


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