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Strategy

CF Long-Term Strategy

COMPARISON OF 5-YEAR CUMULATIVE TOTAL RETURN

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  12/31/12 12/31/13 12/31/14 12/31/15 12/31/16 12/31/17
CF $100.00 115.96 138.35 105.79 85.38 119.81
S&P 500 $100.00 132.38 150.50 152.58 170.83 208.13
Dow Jones
U.S. Commodity
Chemicals		 $100.00 136.95 148.69 147.47 171.64 220.31
Peer Group $100.00 86.17 91.94 59.59 67.64 74.70
  • – CF Industries Holdings, Inc.
  • – S&P 500
  • – Dow Jones U.S. Commodity Chemicals
  • – Peer Group Index

This graph 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, 2012 and ending on December 31, 2017. 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 were publicly traded manufacturers of agricultural chemical fertilizers with headquarters in North America during the five-year period. 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.