Itafos Inc.

Itafos Inc. is a phosphate and specialty fertilizer company headquartered in Houston, Texas, whose shares trade on the TSX Venture Exchange under the ticker IFOS, with CL Fertilizers Holding LLC, an affiliate of private investment firm Castlelake, as its principal shareholder. Its operating businesses comprise Conda, a vertically integrated phosphate fertilizer business in Idaho with approximately 550 kilotonnes per year of capacity across MAP, MAP with micronutrients, superphosphoric acid, merchant grade phosphoric acid and ammonium polyphosphate, and Arraias in Tocantins, Brazil, with approximately 500 kilotonnes per year of single superphosphate capacity.

For the full year 2024 the company reported revenues of USD 491.2 million, up 6 percent, and adjusted EBITDA of USD 159.5 million, up 21 percent, with net income of USD 87.8 million compared with USD 3.1 million in 2023. Conda produced 349,396 tonnes of P2O5 despite fourteen additional days of planned downtime for a large scope turnaround, while Arraias raised sulfuric acid production 26.6 percent and launched sales of directly applied and partially acidulated phosphate rock under its Fertilizer Restart Program.

The company also holds the Farim high-grade phosphate mine project in Guinea-Bissau and the Santana integrated mine and fertilizer plant project in Pará, Brazil, and expects first ore shipments from the Husky 1 / North Dry Ridge mine life extension program to the Conda plant in the second half of 2025. Following the sale of its non-core Araxá asset, the board approved a special dividend of CAD 0.05 per share payable in April 2025.