CVR Energy abandons spin-off of CVR Partners fertilizer business, cites market conditions

CVR ENERGY INC

Board decides not to pursue spin-off of nitrogen fertilizer business at this time after review.
Decision driven by complexity of creating pure-play entities while retaining operational efficiencies.
Coffeyville complex assets (excess H2, CO2 sequestration) continue to be explored for value.
Wynnewood pre-treatment unit on track for mechanical completion in late Q3 2023.
CEO Dave Lamp states retaining current structure under current conditions is in best interest.

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