JERA's option to reduce Blue Point JV ownership expires; CF holds 40% stake

CF Industries Holdings, Inc.

Blue Point JV ownership fixed: CF Industries 40%, JERA 35%, Mitsui 25%.
JERA's conditional option to drop stake below 35% (min 20%) has expired and is no longer exercisable.
Had JERA reduced ownership, CF would have had right and obligation to increase its stake proportionally.
JV formed in April 2025 for low-carbon ammonia production and offtake.

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