Advancement of Renewable Diesel Initiatives SUGAR LAND, Texas (May 11, 2021) - CVR Energy, Inc. ( CVR Energy or the Company ) (NYSE: CVI) today announced that its Board of Directors (the Board ) has determined that the Company will focus on renewable fuels and is no longer interested in acquiring another crude oil refinery. In connection therewith, the Board approved expenditures of up to $10 million to progress its renewable diesel initiatives, including: The completion of process design to convert an existing hydrotreater at the Coffeyville refinery to renewable diesel service; and The completion of process design and the ordering of certain long-lead equipment for a feed pretreater for the Wynnewood refinery to lower carbon intensity and feed cost. The pretreater design could be expandable to also process feed for the potential Coffeyville refinery renewable diesel conversion.