Intrepid

We are pleased to announce the sale of Intrepid South Ranch for total consideration of $70mm. Key assets sold include our approximately 22k acres of fee land, 28k acres of grazing leases, associated water rights, and various other agreements.

Key transaction highlights for Intrepid include:

- Accelerating decades of South Ranch cash flow into a single transaction
- Monetizing noncore assets at an attractive point during a period of Delaware basin consolidations
- Optimizing our asset portfolio to continue to focus on our core fertilizer operations
Strengthening financial flexibility as we execute on our capital allocation strategy

Please see here for the full press release and more details on the transaction: https://lnkd.in/djckTe9D

The Mosaic Company and Intrepid were recognized for another monumental milestone at our Annual Dinner: 100 Years of Potash in Eddy County! Secretary Melanie Kenderdine of the Energy, Minerals and Natural Resources Department presented the award.