Net de bt r educed by o v er 250 millio n in 201 9 Significant Progress T oward Balan ce She et Improvemen t 7 S T RE N G T H E N B ALAN CE S H E E T 1 On a p r o f or ma b asis 2 Ex c lu siv e of f ee s R epurchased 63M f ace v al ue of t erm l oan f or 48M E xpect ed t o cl ose on new cr edi t f aci l i t y i n M arch 2020 G enerat ed ov er 100 M i n w ork i ng capi t al i m prov em ent s i n 2019 Te r m i nat ed 195 M i n r ai l car purchase com m i t m ent s R educe d r ai l car f l eet by 3 000 car s I dl ed 15 m i l l i on t ons of capaci t y E xi t ed 15 l eased t erm i nal s RE P O S I T I O N E N E R G Y S E G M E N T G R O W I N DU S T RI AL C om m i ssi oned C anoi t as expan si on t o suppo r t M exi can cust om er grow t h R est art ed expan si on and m oderni z at i on of neph el i ne sy eni t e f aci l i t y St r ong f ocus on r educing uni t cost s l ed t o prof i t grow t h i n 2019 excl udi ng di v est i t ures