| 1. | A statement that global nitrogen fertilizer demand has shown a compound annual growth rate of 2.1% over the last ten years and is expected to grow 1.0% per year through 2020. | ||
| 2. | The assumption that 33 MMbtu of natural gas is representative for a U.S. Gulf natural gas based plant to produce a ton of ammonia. | ||
| 3. | The assumption that $27 is representative of the operating cost to produce a ton of ammonia for a U.S. Gulf Coast natural gas based plant. | ||
| 4. | The assumption that $18 per ton is a representative cash cost to convert ammonia to UAN at a plant in the U.S. Gulf Coast. | ||
| 5. | The use of our nitrogen price report in connection with your preparation of price projections regarding the average plant gate price estimate for urea ammonium nitrate and ammonia. | ||
| 6. | A statement that U.S. potash and phosphate fertilizer volumes for 2009 both fell by 43%, from 2008 levels, whereas nitrogen fertilizer volumes fell by 12% during such period. | ||
| 7. | A statement that CVR Partners, LP’s UAN production in 2009 (677,700 tons) represented approximately 6.4% of the total U.S. UAN demand and CVR Partners, LP’s net ammonia for sale (156,636 tons) represented less than 1.0% of the total U.S. ammonia demand. | ||
| 8. | A statement that Southern Plains spot ammonia and corn belt spot UAN prices averaged $436/ton and $274/ton, respectively, for the 2006 through September, 2010 period, which represents an average 25% and 21% premium, respectively, over U.S. Gulf prices. | ||
| 9. | The premium per ton for Southern Plains ammonia and Cornbelt UAN to U.S. Gulf Coast prices from January 2006 to November 2010, shown in the table below. |
