Financial Highlights

(1) Share and per share amounts have been retroactively restated to reflect the five-for-one stock split of CF’s common stock effected in the form of a stock dividend distributed on June 17, 2015.

(2) Represents nitrogen capacity as 82% of gross ammonia capacity, including joint venture interests, as stated in the 10-K for each filing period. In 2011 and 2012, excludes the 34% of Canadian Fertilizers Limited (CFL) that was owned by Viterra prior to April 30, 2013, when CFL became a wholly-owned subsidiary of CF Industries.

(3) Shares outstanding as indicated in the 10-K for each filing period, adjusted for the five-for-one stock split of CF’s common stock effected in the form of a stock dividend distributed on June 17, 2015.

(4) The graph above shows the cumulative total stockholder return, assuming an initial investment of $100 and the reinvestment of any subsequent dividends, as of the closing price on December 31, 2010 and ending on December 31, 2015. The chart tracks our common stock, a peer group, the Dow Jones U.S. Commodity Chemicals (DJUSCC) Index, and the Standard & Poor’s 500 Index, of which CF Industries Holdings, Inc. is a component. In constructing our peer group, we have selected Agrium Inc., The Mosaic Company and Potash Corporation of Saskatchewan Inc., all of which are publicly-traded manufacturers of agricultural chemical fertilizers with headquarters in North America. We have assumed the initial investment of $100 in the peer group index was allocated among them on the basis of their respective market capitalizations at the beginning of the period.

(1) Share and per share amounts have been retroactively restated for all prior periods presented to reflect the five-for-one split of the Company’s common stock effected in the form of a stock dividend that was distributed on June 17, 2015.

(2) Reflects decrease of 8.9 million shares resulting from share repurchases in 2015.

(3) Reflects decrease of 7.7 million shares resulting from share repurchases in 2014.

(4) Reflects decrease of 7.3 million shares resulting from share repurchases in 2013.

(5) In the third quarter of 2015, the Company changed its reportable segment structure to separate AN from other segments as its AN products increased in significance as a result of the CF Fertilisers UK acquisition.

Reconciliation Of Non-Gaap Financial Measures

EBITDA is defined as net earnings attributable to common stockholders plus interest expense (income) – net, income taxes, and depreciation and amortization. Other adjustments include the elimination of loan fee amortization that is included in both interest and amortization, and the portion of depreciation that is included in non-controlling interest. We have presented EBITDA because management uses the measure to track performance and believes that it is frequently used by securities analysts, investors and other interested parties in the evaluation of companies in our industry. Adjusted EBITDA is defined as EBITDA with adjustments for the selected items included in the above reconciliation of EBIDTA to adjusted EBITDA. We have presented adjusted EBITDA because management uses adjusted EBITDA as a supplemental financial measure in the comparison of year-over-year performance.

(1) For 2015, income taxes includes a tax benefit of $10.9 million on the loss on sale of a non-operating equity method investment, which is included in equity in earnings of non-operating affiliates – net of taxes on our consolidated statement of operations.