Intrepid Potash : Inaugural ESG Report

Intrepid Potash

Inaugural Sustainability Report

Published August 18, 2023

Table of Contents

Letter to Our Stakeholders	3
Company Overview & Sustainability Strategy	4
Company Overview	5
Commitment to Sustainability	6
Mission & Values	7
Approach to Sustainability	8
Supporting Sustainable Development Goals	9
Aligning with the TCFD Framework	11
Environmental	13
Energy Management	14
Monitoring Environmental Impacts	14
Emissions Management	15
Water Management	16
Waste Management	18
Social	19
Health & Safety	20
Safety Awards & Accomplishments	21
Human Capital Management	22
Diversity, Equity, & Inclusion	24
Supply Chain Management	25
Human Rights	25
Stakeholder Engagement	26
Community Involvement	27
Governance	29
Board Overview	30
Executive Compensation	33
Code of Business Conduct and Ethics	34	We appreciate your interest in Intrepid Potash and welcome any
Anti-Corruption & Anti-Bribery	35 feedback you may have on this report. Please direct questions and
Whistleblower Protection	35	comments on topics related to our corporate responsibility and
Enterprise Risk Management	36	sustainability disclosures to our Investor Relations team.
Cybersecurity	36
Legal Compliance	37
Industry Associations	38
About this Report	39
Appendix	40

Intrepid Potash | Inaugural Sustainability Report

2

Letter to Our Stakeholders

Intrepid was founded almost twenty-five years ago with a primary goal of consolidating the United States potash industry. In 1999, Intrepid's predecessor acquired its first potash mining asset in Moab, Utah, and by 2005, we had acquired additional mining assets in Wendover, Utah and Carlsbad, New Mexico. Today, Intrepid supplies roughly 3.5% of the United States' annual potassium consumption and is the only domestic producer of muriate of potash .

Intrepid has always focused on delivering a product that has high societal value and doing so in the most sustainable manner possible. This is evidenced by Intrepid's solar solution mining process - one of the most environmentally friendly and safest potash production methods - which helps differentiate Intrepid from other producers. Intrepid recognizes that sustainable operations create long-term value for all stakeholders, particularly in the communities where we operate. Intrepid's dedication to sustainable business practices and being a responsible community member is summarized in this report.

Given Intrepid's commitment to sustainability, it is with great pleasure that I present Intrepid's Inaugural Sustainability Report. Inside this report you will find comprehensive information on Intrepid's sustainability efforts and Environmental, Social, and Governance ("ESG") initiatives. Intrepid believes in transparency and accountability and this report serves as a testament to our dedication to these values. We remain steadfast in our commitment to developing a comprehensive sustainability program and are confident that by continuing to prioritize our sustainability goals and values, we will create a better future for all of our stakeholders.

Thank you for your interest in Intrepid and learning more about our sustainability efforts.

Robert P. Jornayvaz III

Executive Chairman of the Board and Chief Executive Officer

Intrepid Potash | Inaugural Sustainability Report

3

COMPANY OVERVIEW &

SUSTAINABILITY STRATEGY

Intrepid is focused on producing a product that has high societal value and doing so in the most sustainable manner possible.

Company Overview & Sustainability Strategy

Environmental

Social

Governance

Appendix

Intrepid Potash | Inaugural Sustainability Report

4

Company Overview

We deliver high-quality, essential minerals to support the agriculture, animal feed, and industrial sectors in a safe and sustainable manner.

Intrepid Potash ("Intrepid," "the Company," "IPI," "we," and "our") is a United States ("U.S.") based, publicly traded, diversified minerals company headquartered in Denver, Colorado. Intrepid operates in three key business segments: Potash, Trio®, and Oilfield Solutions. We are currently the only producer of muriate of potash (referred to herein throughout as potash or potassium chloride) in the United States. Potash is applied as an essential nutrient for healthy crop development and is utilized in several other industrial applications. Intrepid also produces a specialty fertilizer, Trio®, which delivers three key nutrients - potassium, magnesium, and sulfate - in a single particle, which also offers the advantage of being low in chloride for chloride-sensitive crops.

Wendover, Utah

Production Method: Potash is produced from brine collected in ditches from shallow aquifers in the West Desert and from a deeper aquifer by means of deep-brinewells. The brine is evaporated in solar ponds.

Moab, Utah

Production Method: Potash is mined by injecting brine underground into old mine workings and horizontal caverns and then pumping the brine to solar evaporation ponds.

Carlsbad, New Mexico

HB Solar Solution Mine Production Method: Potash is mined from idled mine workings by injecting brine underground. The brine is then pumped to the surface where it is put into solar evaporation ponds.

Conventional East Mine

Production Method: Langbeinite ore is mined from conventional underground extraction.

Intrepid Potash

Potash serves a fundamental role in agriculture by providing essential crop nutrients that help sustain a crop's yield and quality. Along with nitrogen and phosphate, potash serves a s one of the three main nutrients used for crop production. Potash helps regulate physiological functions and improves plant durability, helping provide crops with protection from drought, disease, and other ailments. Solar solution mining is one of the most environmentally friendly and safest mining methods used today. We produce potash via solar solution mining at the HB solar solution mine in Carlsbad, New Mexico, the Moab, Utah solar solution mine, and the Wendover, Utah brine recovery mine. The sun evaporates water from our ponds, allowing us to harvest brine and produce potash and other byproducts. Compared to traditional mining methods, this results in lower energy use and emissions. We sell potash that is approved for organic farming, is Organic Materials Review Institute ("OMRI") listed, and is certified Safe Feed/Safe Food (please note that not all of our potash meets these specifications).

Intrepid Trio®

Trio® is produced from conventional underground mining at our East Mine in Carlsbad, New Mexico. Trio® is a specialty fertilizer produced from langbeinite ore that delivers potassium, magnesium, and sulfate in a single particle. It provides a long lasting, readily available source of low-chloride potassium, magnesium, and sulfate, which is ideal for fruits, vegetables, and row crops grown in magnesium-deficient soils. Certain Trio® products are certified Safe Feed/Safe Food, OMRI-listed, and approved for organic farming.

Intrepid Oilfield Solutions

Our Oilfield Solutions segment primarily consists of the sale of water for use in oil and g a s operations. We have permitted, declared, adjudicated, and licensed water rights in New Mexico near the Permian Basin (specifically, the Delaware Basin within the Permian). We also provide other oilfield related products and services, including but not limited to, caliche and heavy brine sales.

Company Overview & Sustainability Strategy

Environmental

Social

Governance

Appendix

Intrepid Potash | Inaugural Sustainability Report

5