<SEC-DOCUMENT>0001193125-21-273469.txt : 20210915
<SEC-HEADER>0001193125-21-273469.hdr.sgml : 20210915
<ACCEPTANCE-DATETIME>20210915080154
ACCESSION NUMBER:		0001193125-21-273469
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20210915
DATE AS OF CHANGE:		20210915

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LSB INDUSTRIES INC
		CENTRAL INDEX KEY:			0000060714
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL INORGANIC CHEMICALS [2810]
		IRS NUMBER:				731015226
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-07677
		FILM NUMBER:		211254286

	BUSINESS ADDRESS:	
		STREET 1:		3503 NW 63RD STREET
		STREET 2:		SUITE 500
		CITY:			OKLAHOMA CITY
		STATE:			OK
		ZIP:			73116
		BUSINESS PHONE:		4052354546

	MAIL ADDRESS:	
		STREET 1:		3503 NW 63RD STREET
		STREET 2:		SUITE 500
		CITY:			OKLAHOMA CITY
		STATE:			OK
		ZIP:			73116
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEFA14A
<SEQUENCE>1
<FILENAME>d219168ddefa14a.htm
<DESCRIPTION>DEFA14A
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULE 14A
</B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Proxy Statement Pursuant to Section&nbsp;14(a) of the </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Securities Exchange Act of 1934 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Filed by the
Registrant&nbsp;&nbsp;&#9746;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Filed by a Party other than the
Registrant&nbsp;&nbsp;&#9744; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top">&#9744;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Preliminary Proxy Statement</TD></TR>
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<TD VALIGN="top">&#9744;</TD>
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<TD VALIGN="bottom">Confidential, for Use of the Commission Only (as permitted by Rule <FONT STYLE="white-space:nowrap">14a-6(e)(2))</FONT></TD></TR>
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<TD VALIGN="top">&#9744;</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Definitive Proxy Statement</TD></TR>
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<TD VALIGN="top">&#9746;</TD>
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<TD VALIGN="bottom">Definitive Additional Materials</TD></TR>
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<TD VALIGN="bottom">Soliciting Material Pursuant to <FONT STYLE="white-space:nowrap">&#167;240.14a-12</FONT></TD></TR>
</TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:22pt; font-family:Times New Roman" ALIGN="center"><B>LSB Industries, Inc. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Name of Registrant as Specified In Its Charter) </B></P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Name of Person(s) Filing Proxy Statement, if other than the Registrant) </B></P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Payment of Filing Fee (Check the appropriate box): </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" COLSPAN="3">No fee required.</TD></TR>
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<TD VALIGN="top" COLSPAN="3">Fee computed on table below per Exchange Act Rules <FONT STYLE="white-space:nowrap">14a-6(i)(1)</FONT> and <FONT STYLE="white-space:nowrap">0-11.</FONT></TD></TR>
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<TD VALIGN="top">(1)</TD>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Title of each class of securities to which the transaction applies:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Aggregate number of securities to which the transaction applies:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Per unit price or other underlying value of the transaction computed pursuant to Exchange Act Rule
<FONT STYLE="white-space:nowrap">0-11</FONT> (set forth the amount on which the filing fee is calculated and state how it was determined):</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Proposed maximum aggregate value of the transaction:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Total fee paid:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
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<TD VALIGN="top" COLSPAN="3">Fee paid previously with preliminary materials.</TD></TR>
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<TD VALIGN="top" COLSPAN="3">Check box if any part of the fee is offset as provided by Exchange Act Rule <FONT STYLE="white-space:nowrap">0-11(a)(2)</FONT> and identify the filing for which the offsetting fee was paid previously. Identify the
previous filing by registration statement number, or the Form or Schedule and the date of its filing.</TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Amount Previously Paid:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Form, Schedule or Registration Statement No.:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</P></TD></TR>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Filing Party:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date Filed:</P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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 </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>FOR IMMEDIATE RELEASE </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>INDEPENDENT PROXY ADVISORY FIRM GLASS LEWIS RECOMMENDS LSB INDUSTRIES, INC. </U></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><U>STOCKHOLDERS VOTE &#147;FOR&#148; EXCHANGE TRANSACTION </U></B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>LSB Urges Stockholders to Vote &#147;FOR&#148; ALL Transaction-Related Proposals </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Stockholders Needing Assistance in Voting Should Contact </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>LSB&#146;s Proxy Solicitor, Okapi Partners LLC, at (877) <FONT STYLE="white-space:nowrap">869-0171</FONT>
or&nbsp;<U>info@okapipartners.com</U> </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">OKLAHOMA CITY, OK &#151; September 15, 2021 &#151; LSB Industries, Inc. (NYSE:LXU) (&#147;LSB&#148; or the
&#147;Company&#148;) today announced that independent proxy advisory firm, Glass Lewis, has recommended that LSB shareholders vote &#147;FOR&#148; all of the proposals in the Definitive Proxy Statement filed by the Company on August&nbsp;26, 2021
relating to the Company&#146;s agreement (the &#147;Exchange Agreement&#148;) with LSB Funding LLC, an affiliate of Eldridge Industries, LLC (&#147;Eldridge&#148;), to exchange the shares of LSB Series <FONT STYLE="white-space:nowrap">E-1</FONT> and
Series <FONT STYLE="white-space:nowrap">F-1</FONT> Redeemable Preferred Stock held by Eldridge for shares of LSB common stock. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Glass Lewis, in its report
dated September&nbsp;14, 2021, indicates that<SUP STYLE="font-size:85%; vertical-align:top">1</SUP>, &#147;Here, we understand that the proposed exchange agreement was arrived at following a strategic review process and following considerable
discussions and negotiations with Eldridge. For its part, the board formed a special committee of independent directors to oversee this process and worked with outside legal and financial advisors. The proposed exchange would remove LSB
Lender&#146;s right to require the Company to pay in 2023 approximately $419&nbsp;million of liquidation value that would be due under the Preferred Shares at that time and would provide greater financial flexibility, including to pursue future
merger and acquisition transactions. The board states that the proposed exchange would improve the Company&#146;s capital structure and credit metrics and simplify its balance sheet with the removal of the Preferred Shares. The exchange is expected
to reduce the Company&#146;s net debt leverage from 9.0x to 5.6x its adjusted EBITDA as of June&nbsp;30, 2021 on a trailing twelve month basis and would not involve any cash consideration, preserving cash and avoiding additional leverage that could
be used for other strategic initiatives. . . . Overall, we find that the proposed exchange appears reasonable to the Company and its shareholders. Based on these factors and the support of the board, we believe the exchange agreement is in the best
interest of shareholders.&#148; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mark Behrman, LSB&#146;s President and CEO, stated, &#147;The Glass Lewis recommendation in favor of our proposed
exchange transaction further supports our position that this transaction is strongly aligned with the interests of LSB&#146;s shareholders through the greater financial flexibility and reduced cost of capital it will provide, which we expect will
better enable us to drive growth in earnings and cash flow. We urge LSB stockholders to follow the Glass Lewis recommendation and vote &#147;FOR&#148; the transaction today.&#148; </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Transaction Highlights: </B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Eliminates the current financial impact and repayment of the accrued compounding preferred stock and future
accruing dividends at 14.5% (increasing to 16.0% in&nbsp;April 2023) unburdening the Company and unlocking shareholder value. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">The Special Committee, Board of Directors and LSB management believe this could lead to a rating upgrade
potentially allowing the Company to refinance its senior secured notes at a lower interest rate and on improved terms, which would reduce its cash interest expense and overall cost of capital. </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Improves the Company&#146;s financial flexibility allowing it to pursue organic growth initiatives, including in
green ammonia and clean energy and accretive M&amp;A opportunities. </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt">Preserves the Company&#146;s significant tax attributes, including approximately&nbsp;$620 million&nbsp;of
federal net operating losses, thereby protecting potentially significant future cash savings and stockholder value. </P></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">LSB will hold a
Special Meeting of LSB stockholders that will be conducted virtually via live webcast at&nbsp;8:30 am Central Daylight Time&nbsp;on&nbsp;September 22, 2021, which can be accessed by visiting&nbsp;<U>www.proxydocs.com/LXU</U>. The Company&#146;s
proxy statement is available at <U><FONT STYLE="white-space:nowrap">https://investors.lsbindustries.com/financial-information/sec-filings</FONT></U>&nbsp;and <U>www.sec.gov</U>. Stockholders of record at the close of business on August&nbsp;2, 2021
will be entitled to vote their shares at the Special Meeting. Stockholders who have questions, or need assistance in voting their shares should contact LSB&#146;s proxy solicitor, Okapi Partners LLC, at (877)
<FONT STYLE="white-space:nowrap">869-0171</FONT> or via email at&nbsp;<U>info@okapipartners.com</U>. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About LSB Industries, Inc. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">LSB Industries, Inc., headquartered in Oklahoma City, Oklahoma, manufactures and sells chemical products for the agricultural, mining, and industrial markets.
The Company owns and operates facilities in Cherokee, Alabama, El Dorado, Arkansas and Pryor, Oklahoma, and operates a facility for a global chemical company in Baytown, Texas. LSB&#146;s products are sold through distributors and directly to end
customers primarily throughout the United States. Additional information about the Company can be found on its website at <U>www.lsbindustries.com</U>. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About&nbsp;Eldridge Industries, LLC </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Eldridge Industries,
LLC&nbsp;invests in businesses across the Insurance, Asset Management, Technology, Mobility, Sports&nbsp;&amp; Gaming, Media&nbsp;&amp; Music, Real Estate, and Consumer landscapes. The firm seeks to build and grow businesses led by proven management
teams that have demonstrated leadership and experience to scale an enterprise.&nbsp;Eldridge Industries, LLC&nbsp;is headquartered in&nbsp;Greenwich, Connecticut, with additional offices in&nbsp;Beverly Hills,&nbsp;New York, and&nbsp;London.
Additional information about&nbsp;Eldridge Industries, LLC&nbsp;can be found on its website at&nbsp;<U>www.eldridge.com</U>. </P>
</DIV></Center>


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<HR SIZE="3" style="COLOR:#999999" WIDTH="100%" ALIGN="CENTER">


<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Forward-Looking Statements </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Statements in this release that are not historical are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of
1995. These forward-looking statements, which are subject to known and unknown risks, uncertainties and assumptions about us, may include projections of our future financial performance including the effects of the
<FONT STYLE="white-space:nowrap">COVID-19</FONT> pandemic and anticipated performance based on our growth and other strategies and anticipated trends in our business. These statements are only predictions based on our current expectations and
projections about future events. There are important factors that could cause our actual results, level of activity, performance or actual achievements to differ materially from the results, level of activity, performance or anticipated achievements
expressed or implied by the forward-looking statements. Significant risks and uncertainties may relate to, but are not limited to, our ability to consummate the exchange transaction on the terms described herein and in the definitive proxy statement
referred to herein or at all, business and market disruptions related to the <FONT STYLE="white-space:nowrap">COVID-19</FONT> pandemic, market conditions and price volatility for our products and feedstocks, as well as global and regional economic
downturns, including as a result of the <FONT STYLE="white-space:nowrap">COVID-19</FONT> pandemic, that adversely affect the demand for our <FONT STYLE="white-space:nowrap">end-use</FONT> products; disruptions in production at our manufacturing
facilities; and other financial, economic, competitive, environmental, political, legal and regulatory factors. These and other risk factors are discussed in the Company&#146;s filings with the Securities and Exchange Commission (&#147;SEC&#148;),
including its Annual Report on <FONT STYLE="white-space:nowrap">Form&nbsp;10-K&nbsp;for</FONT> the year ended December&nbsp;31, 2020. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Moreover, we
operate in a very competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for our management to predict all risks and uncertainties, nor can management assess the impact of all
factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Although we believe the expectations reflected in the
forward-looking statements are reasonable, we cannot guarantee future results, level of activity, performance or achievements. Neither we nor any other person assumes responsibility for the accuracy or completeness of any of these forward-looking
statements. You should not rely upon forward-looking statements as predictions of future events. Unless otherwise required by applicable laws, we undertake no obligation to update or revise any forward-looking statements, whether because of new
information or future developments.</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>No Offer or Solicitation </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This communication is not intended to and shall not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a
solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such
jurisdiction. No offering of securities shall be made, except by means of a prospectus meeting the requirements of Section&nbsp;10 of the&nbsp;U.S.&nbsp;Securities Act of 1933, as amended, or an exemption from the registration requirements thereof.
</P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Additional Information about the Exchange Transaction and Where to Find It </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with the proposed transaction, LSB has filed with the&nbsp;SEC a proxy statement for the special meeting of LSB stockholders and may also file
other relevant documents with the&nbsp;SEC&nbsp;regarding the proposed transaction. This communication is not a substitute for the proxy statement or any other document that LSB may file with the&nbsp;SEC. The definitive proxy statement was
</P>
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<p style="margin-top:1em; margin-bottom:0em; page-break-before:always">
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">
mailed to LSB stockholders commencing on&nbsp;August 26, 2021. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH
THE&nbsp;SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT LSB AND THE PROPOSED TRANSACTION. Investors
and security holders will be able to obtain free copies of the proxy statement and other documents containing important information about LSB and the proposed transaction, once such documents are filed with the&nbsp;SEC, through the website
maintained by the&nbsp;SEC&nbsp;at&nbsp;<U>http://www.sec.gov</U>. Copies of the documents filed with the&nbsp;SEC&nbsp;by LSB may be obtained free of charge on LSB&#146;s website at<U>&nbsp;www.lsbindustries.com</U>&nbsp;or by
contacting&nbsp;Michael Foster, General Counsel and Secretary by email at&nbsp;<U>mfoster@lsbindustries.com</U>&nbsp;or by phone at <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">405-510-3596.</FONT></FONT> </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Participants in the Solicitation </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">LSB and certain of its
directors and executive officers may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction. Information about the directors and executive officers of LSB, including a description of their direct or
indirect interests, by security holdings or otherwise, is set forth in LSB&#146;s proxy statement for its 2021 Annual Meeting of Stockholders, which was filed with the&nbsp;SEC&nbsp;on&nbsp;April 19, 2021&nbsp;and its proxy statement for the special
meeting of stockholders, which was filed with the&nbsp;SEC&nbsp;on&nbsp;August 26, 2021, and LSB&#146;s Annual Report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the fiscal year ended&nbsp;December 31, 2020, which was filed with
the&nbsp;SEC&nbsp;on&nbsp;February 25, 2021. Other information regarding the participants in the proxy solicitations and a description of their direct and indirect interests, by security holdings or otherwise, is contained in the&nbsp;proxy
statement and other relevant materials filed with the&nbsp;SEC&nbsp;regarding the proposed transaction. Investors should read the proxy statement carefully before making any voting or investment decisions. You may obtain free copies of these
documents from LSB using the sources indicated above. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Company Contact: </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Cheryl Maguire, Executive Vice President&nbsp;&amp; CFO </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(405) <FONT
STYLE="white-space:nowrap">510-3524</FONT></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Fred Buonocore, CFA, Vice President of Investor Relations </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(405) <FONT STYLE="white-space:nowrap">510-3550</FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>fbuonocore@lsbindustries.com</U> </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Shareholder Contact:
</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Okapi Partners LLC </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(877)
<FONT STYLE="white-space:nowrap">69-0171</FONT> </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>info@okapipartners.com.</U> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><SUP STYLE="font-size:85%; vertical-align:top">1</SUP> Permission to quote from the Glass Lewis report was neither sought nor obtained. </P>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
