Cvr Partners, Lp · NYSE:UAN

Cvr Partners, Lp — Investor Presentation (September 2016)

25 slides from Cvr Partners, Lp's investor presentation, Sep 21, 2016

  1. Slide 1: CVR Partners, LP Investor Presentation September 2016

    Graphics file located here: O:\IBD_Regional_Documents_Repository_AM_Groups\Pres Tech Graphics\Custom templates\C49E\CVR Rentech Note: Cover slide is a jpg requested by the banker. 0 0 0 Dark 1 255 255 255 Light 1 102 162 188 Dark 2 123 113 160 Light 2 0 56 104 Accent 1 120 152 179 Accent 2 178 194 2

  2. Slide 2: Safe Harbor Statement

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  3. Slide 3: Key Investment Highlights

    0 0 0 Dark 1 255 255 255 Light 1 102 162 188 Dark 2 123 113 160 Light 2 0 56 104 Accent 1 120 152 179 Accent 2 178 194 209 Accent 3 107 113 118 Accent 4 218 219 221 Accent 5 123 124 65 Accent 6 37 91 137 Hyperlink 102 136 164 Followed Hyperlink 2  CVR Partners, LP (NYSE: UAN) is a leading North Ame

  4. Slide 4: Solid Historical Fertilizer Demand Growth

    0 0 0 Dark 1 255 255 255 Light 1 102 162 188 Dark 2 123 113 160 Light 2 0 56 104 Accent 1 120 152 179 Accent 2 178 194 209 Accent 3 107 113 118 Accent 4 218 219 221 Accent 5 123 124 65 Accent 6 37 91 137 Hyperlink 102 136 164 Followed Hyperlink 3 Solid Historical Fertilizer Demand Growth 0 2 4 6 8 0

  5. Slide 5: Solid Base of Corn Demand in the U.S.

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  6. Slide 6: Nitrogen Demand Will Continue to Grow

    0 0 0 Dark 1 255 255 255 Light 1 102 162 188 Dark 2 123 113 160 Light 2 0 56 104 Accent 1 120 152 179 Accent 2 178 194 209 Accent 3 107 113 118 Accent 4 218 219 221 Accent 5 123 124 65 Accent 6 37 91 137 Hyperlink 102 136 164 Followed Hyperlink 80 90 100 110 120 130 M il li o n T onne s 5 Nitrogen D

  7. Slide 7: New U.S. Nitrogen Production Displacing Imports

    0 0 0 Dark 1 255 255 255 Light 1 102 162 188 Dark 2 123 113 160 Light 2 0 56 104 Accent 1 120 152 179 Accent 2 178 194 209 Accent 3 107 113 118 Accent 4 218 219 221 Accent 5 123 124 65 Accent 6 37 91 137 Hyperlink 102 136 164 Followed Hyperlink 6 New U.S. Nitrogen Production Displacing Imports -4,00

  8. Slide 8: Strategic Rationale for East Dubuque Acquisition

    0 0 0 Dark 1 255 255 255 Light 1 102 162 188 Dark 2 123 113 160 Light 2 0 56 104 Accent 1 120 152 179 Accent 2 178 194 209 Accent 3 107 113 118 Accent 4 218 219 221 Accent 5 123 124 65 Accent 6 37 91 137 Hyperlink 102 136 164 Followed Hyperlink 7 Strategic Rationale for East Dubuque Acquisition A le

  9. Slide 9: Enhanced Flexibility and Reduced Operational Risk

    0 0 0 Dark 1 255 255 255 Light 1 102 162 188 Dark 2 123 113 160 Light 2 0 56 104 Accent 1 120 152 179 Accent 2 178 194 209 Accent 3 107 113 118 Accent 4 218 219 221 Accent 5 123 124 65 Accent 6 37 91 137 Hyperlink 102 136 164 Followed Hyperlink  Well-positioned to capitalize on favorable North Amer

  10. Slide 10: Attractive Market Position

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  11. Slide 11: Strong and Stable Free Cash Flow Generation

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  12. Slide 12: Coffeyville, KS Facility

    0 0 0 Dark 1 255 255 255 Light 1 102 162 188 Dark 2 123 113 160 Light 2 0 56 104 Accent 1 120 152 179 Accent 2 178 194 209 Accent 3 107 113 118 Accent 4 218 219 221 Accent 5 123 124 65 Accent 6 37 91 137 Hyperlink 102 136 164 Followed Hyperlink  Plant construction completed in 2000 − UAN expansion

  13. Slide 13: East Dubuque, IL Facility

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  14. Slide 14: Experienced Management Team

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  15. Slide 15: Solid Financial Profile

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  16. Slide 16: CVR Partners' 2016 Q2 and YTD Results

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  17. Slide 17: Key Investment Highlights

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  18. Slide 18: Appendix

    0 0 0 Dark 1 255 255 255 Light 1 102 162 188 Dark 2 123 113 160 Light 2 0 56 104 Accent 1 120 152 179 Accent 2 178 194 209 Accent 3 107 113 118 Accent 4 218 219 221 Accent 5 123 124 65 Accent 6 37 91 137 Hyperlink 102 136 164 Followed Hyperlink Appendix

  19. Slide 19: Activities & Transactions

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  20. Slide 20: Key Operating Statistics – Coffeyville

    0 0 0 Dark 1 255 255 255 Light 1 102 162 188 Dark 2 123 113 160 Light 2 0 56 104 Accent 1 120 152 179 Accent 2 178 194 209 Accent 3 107 113 118 Accent 4 218 219 221 Accent 5 123 124 65 Accent 6 37 91 137 Hyperlink 102 136 164 Followed Hyperlink $33 $30 $28 $25 2012 2013 2014 2015 Pet coke 92.6% 95.6

  21. Slide 21: Key Operating Statistics – East Dubuque

    0 0 0 Dark 1 255 255 255 Light 1 102 162 188 Dark 2 123 113 160 Light 2 0 56 104 Accent 1 120 152 179 Accent 2 178 194 209 Accent 3 107 113 118 Accent 4 218 219 221 Accent 5 123 124 65 Accent 6 37 91 137 Hyperlink 102 136 164 Followed Hyperlink $3.59 $4.16 $5.00 $3.74 2012 2013 2014 2015 Natural gas

  22. Slide 22: CVR Partners – Annual Reconciliation of Net Income to Adjusted EBITDA and Free Cash Flow

    0 0 0 Dark 1 255 255 255 Light 1 102 162 188 Dark 2 123 113 160 Light 2 0 56 104 Accent 1 120 152 179 Accent 2 178 194 209 Accent 3 107 113 118 Accent 4 218 219 221 Accent 5 123 124 65 Accent 6 37 91 137 Hyperlink 102 136 164 Followed Hyperlink 21 CVR Partners – Annual Reconciliation of Consolidated

  23. Slide 23: Rentech Nitrogen Partners – Annual Reconciliation to Adjusted EBITDA and Free Cash Flow

    0 0 0 Dark 1 255 255 255 Light 1 102 162 188 Dark 2 123 113 160 Light 2 0 56 104 Accent 1 120 152 179 Accent 2 178 194 209 Accent 3 107 113 118 Accent 4 218 219 221 Accent 5 123 124 65 Accent 6 37 91 137 Hyperlink 102 136 164 Followed Hyperlink 22 Rentech Nitrogen Partners(1) – Annual Reconciliation

  24. Slide 24: Unaudited Pro Forma LTM 6/30/16 Quarterly Reconciliation to Adjusted EBITDA

    0 0 0 Dark 1 255 255 255 Light 1 102 162 188 Dark 2 123 113 160 Light 2 0 56 104 Accent 1 120 152 179 Accent 2 178 194 209 Accent 3 107 113 118 Accent 4 218 219 221 Accent 5 123 124 65 Accent 6 37 91 137 Hyperlink 102 136 164 Followed Hyperlink 23 Unaudited Pro Forma LTM 6/30/16(1) – Quarterly Recon

  25. Slide 25: 2016 Q2/YTD Reconciliation of Net Income to EBITDA and Cash Available for Distribution

    0 0 0 Dark 1 255 255 255 Light 1 102 162 188 Dark 2 123 113 160 Light 2 0 56 104 Accent 1 120 152 179 Accent 2 178 194 209 Accent 3 107 113 118 Accent 4 218 219 221 Accent 5 123 124 65 Accent 6 37 91 137 Hyperlink 102 136 164 Followed Hyperlink 24 CVR Partners – Unaudited 2016 Q2/YTD Reconciliation

CVR Partners — Investor Presentation (September 2016) on 6ix