CVR Energy Announces Proposed Offering of Common Stock

CVR Energy, Inc. (the “Company” or “CVR Energy”) (NYSE: CVI) today announced the commencement of an underwritten public offering of $750 million of shares of its common stock (the “Offering”). The Company is offering $500 million of shares of its common stock and IEP Energy Holding LLC (the “Selling Stockholder”), an indirect subsidiary of Icahn Enterprises L.P., the Company’s controlling stockholder, is offering $250 million of shares of the Company’s common stock in the Offering. The Selling Stockholder expects to grant the underwriters a 30-day option to purchase up to an additional $112.5 million of shares of the Company’s common stock at the public offering price, less underwriting discounts and commissions. The Company will not receive any proceeds from any sale of shares by the Selling Stockholder. The proposed Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering.