Group 1 - Performance was impacted by accelerated depreciation from reverting the Wynnewood renewable diesel unit to hydrocarbon processing and extended downtime at the Coffeyville fertilizer plant [1] - Management is initiating a cultural shift toward commercial optimization to improve margin capture by responding faster to volatile market windows and feedstock opportunities [1] - The reversion of the Wynnewood unit is expected to expand crude slate flexibility and allow for the repurposing of rail assets for better feedstock security [1] Group 2 - At Coffeyville, the company is aggressively ramping up WCS processing toward 20,000 barrels per day to capitalize on widening Canadian crude differentials [1] - The Fertilizer segment faced a 3-week startup delay caused by a third-party air separation plant, though underlying nitrogen demand remains robust due to high corn acreage estimates [1] - Management is adopting a more proactive stance toward M&A, seeking geographic diversity and scale through bilateral discussions rather than traditional auction processes [1]

Core Points - Centuri Holdings, Inc. has appointed Dustin DeMaria to its Board of Directors as part of a cooperation agreement with Icahn Enterprises [1][2][3] - DeMaria will serve as an independent director and is set to stand for election at the 2026 Annual Meeting of Shareholders [2] - The Board of Directors now consists of eight members, with six being independent, including the Board Chair [4] Company Overview - Centuri Holdings, Inc. is a leading utility infrastructure services company in North America, partnering with regulated utilities to build and maintain energy networks [7] - The company aims to capitalize on the increasing demand for power infrastructure across North America [4] Leadership Background - Dustin DeMaria joined Icahn Enterprises in 2022 and has prior experience as a Director at Zipari and as an investment banking associate at Moelis & Company [6] - He has served as a director for CVR Energy, Inc. and Viskase Companies, Inc., both of which are controlled by Carl C. Icahn [6]

Q4 2024 Earnings Presentation Icahn Enterprises L.P. February 26, 2025 1 Safe Harbor Statement Forward-Looking Statements and Non-GAAP Financial Measures The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements we make in this presentation, including statements regarding our future performance and plans for our businesses and potential acquisitions. Forward-looking statements may be identified by words such as "expects," "anticipates," "intends," "plans," ...