EX-99.4 5 a18-41093_1ex99d4.htm EX-99.4

Exhibit 99.4

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Tim Skidmore Chief Financial Officer 2

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“CONFRONT THE BRUTAL FACTS” 9 “Good To Great”, Jim Collins

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2018 Priorities: Strengthen and Grow Strengthen Relationships Sharpen Operational Excellence RESTORE Financial Flexibility

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IMPROVED WORKING CAPITAL OPTIMIZED PORTFOLIO PRIORITIZED CAPITAL EXPENDITURES OPTIMIZED DEBT $512 MILLION HELD EXPENSES FLAT IMPROVED DEBT TO CASH FLOW 23

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Net Sales ($ in billions)

Net Income ($ in millions)

Base Business Pre-tax Earnings ($ in millions)

ENERGY 29 Fiscal Year-to-Date Sept 1 – Aug. 31 (in $ millions) Energy Ag Nitrogen Production Corporate and Other Income before income taxes Income tax expense (benefit) Net Income (loss) Net Income attributable to non-controlling interest Net Income (loss) attributable to CHS Inc. (As restated) 2018 2017 $ 452.1 74.3 38.8 106.0 671.2 (104.1) $ 775.3 (0.6) $ 775.9 $ 61.1 (270.1) 29.8 69.1 (110.1) (181.1) $ 71.0 (0.6) $ 71.6 CHS Earnings for Fiscal 2018

AG 30 CHS Earnings for Fiscal 2018 Fiscal Year-to-Date Sept 1 – Aug. 31 (in $ millions) Energy Ag Nitrogen Production Corporate and Other Income before income taxes Income tax expense (benefit) Net Income (loss) Net Income attributable to non-controlling interest Net Income (loss) attributable to CHS Inc. (As restated) 2018 2017 $ 452.1 74.3 38.8 106.0 671.2 (104.1) $ 775.3 (0.6) $ 775.9 $ 61.1 (270.1) 29.8 69.1 (110.1) (181.1) $ 71.0 (0.6) $ 71.6

NITROGEN PRODUCTION 31 CHS Earnings for Fiscal 2018 Fiscal Year-to-Date Sept 1 – Aug. 31 (in $ millions) Energy Ag Nitrogen Production Corporate and Other Income before income taxes Income tax expense (benefit) Net Income (loss) Net Income attributable to non-controlling interest Net Income (loss) attributable to CHS Inc. (As restated) 2018 2017 $ 452.1 74.3 38.8 106.0 671.2 (104.1) $ 775.3 (0.6) $ 775.9 $ 61.1 (270.1) 29.8 69.1 (110.1) (181.1) $ 71.0 (0.6) $ 71.6

CORPORATE AND OTHER 32 CHS Earnings for Fiscal 2018 Fiscal Year-to-Date Sept 1 – Aug. 31 (in $ millions) Energy Ag Nitrogen Production Corporate and Other Income before income taxes Income tax expense (benefit) Net Income (loss) Net Income attributable to non-controlling interest Net Income (loss) attributable to CHS Inc. (As restated) 2018 2017 $ 452.1 74.3 38.8 106.0 671.2 (104.1) $ 775.3 (0.6) $ 775.9 $ 61.1 (270.1) 29.8 69.1 (110.1) (181.1) $ 71.0 (0.6) $ 71.6

CHS Earnings for Fiscal 2018 Fiscal Year-to-Date Sept 1 – Aug. 31 (in $ millions) Energy Ag Nitrogen Production Corporate and Other Income before income taxes Income tax expense (benefit) Net Income (loss) Net Income attributable to non-controlling interest Net Income (loss) attributable to CHS Inc. (As restated) 2018 2017 $ 452.1 74.3 38.8 106.0 671.2 (104.1) $ 775.3 (0.6) $ 775.9 $ 61.1 (270.1) 29.8 69.1 (110.1) (181.1) $ 71.0 (0.6) $ 71.6

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$150 Million CASH $75 Million Patronage 10% to Unallocated Reserve $75 Million Equity

PATRONAGE RATES 36 Bushels spring wheat soybeans corn none none none Gallons refined fuels premium diesel 1.7¢ 2.1¢ Cash 9.2¢ 11.6¢ Total bulk fertilizer specialty $1.53 Tons $2.86 Cash $8.58 Total $16.01 This Bushels copy is out

$75 Million EQUITY REDEMPTIONS 37

$75 Million Equity Redemptions 38 $35 Million Individuals $40 Million Associations Fiscal 2018 Age 70 Retirements Fiscal 2019 Estates & Age 70 Retirements Fiscal 2006 Earned Qualified Equity Fiscal 2017 Non-qualified Equity

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WHAT’S AHEAD? 42

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FOCUSED 48 We are a cooperative, we are here to serve our owners

REALISTS 49 We have work to do, but CHS is here for the long haul

FINANCIAL FLEXIBLITY 50 We met our goals We have momentum We intend to sustain it

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