Manav Gupta

John Royall

Matthew Blair

Neil Mehta

Paul Cheng

Adam Alexander Wijaya

- CVR Energy reported total liquidity of approximately **$759 million** (excluding CVR Partners) at the end of **Q2 2025**, and has reduced its Term Loan balance to **$235 million** through a **$90 million** repayment in June and July 2025.  **[1376139_0001376139-25-000050_exhibit991-investorprese.htm:6]** 
- The EPA's decision on **August 22, 2025**, significantly reduced Wynnewood Refining Company's (WRC) Renewable Fuel Standard (RFS) liability for 2020-2024 by over **300 million RINs**, potentially leading to an estimated **100 million RIN obligation** for pre-2025 periods.  **[1376139_0001376139-25-000050_exhibit991-investorprese.htm:14]** 
- The company is pausing new development efforts for additional Renewables growth projects due to uncertainty regarding U.S. government credit programs, while continuing to operate the Wynnewood Renewable Diesel Unit (RDU).  **[1376139_0001376139-25-000050_exhibit991-investorprese.htm:10]** 
- Estimated capital expenditures for 2025 are **$104 million to $128 million** for Petroleum & Renewables and **$55 million to $65 million** for the Nitrogen Fertilizer segment.  **[1376139_0001376139-25-000050_exhibit991-investorprese.htm:14]**

CVR Energy Inc. Updates on Liquidity, RINs Liability, and Renewables Strategy

- On **August 22, 2025**, the U.S. Environmental Protection Agency (EPA) issued a decision affirming previous small refinery hardship relief grants for CVR Energy's subsidiary, Wynnewood Refining Company, LLC (WRC), for **2017 and 2018** compliance periods, and granting **100 percent waivers** for **2019 and 2021**, and **50 percent waivers** for **2020, 2022, 2023, and 2024** compliance periods under the Renewable Fuel Standard.  **[1376139_0001376139-25-000048_exhibit991-2025epasreupdate.htm:0]** 
- This decision could reduce WRC's obligation for the **2020 through 2024** compliance periods by **more than 300 million** Renewable Identification Numbers (RINs).  **[1376139_0001376139-25-000048_exhibit991-2025epasreupdate.htm:0]** 
- WRC may also receive previously retired RINs for earlier compliance periods, which could further reduce its obligation by **over 100 million** RINs.  **[1376139_0001376139-25-000048_exhibit991-2025epasreupdate.htm:0]** 
- As a result, the estimated remaining RIN obligation for pre-2025 compliance periods could be reduced to **100 million** RINs.  **[1376139_0001376139-25-000048_exhibit991-2025epasreupdate.htm:0]**

CVR ENERGY (CVI)