Intrepid Potash Announces Expansion of Common Stock Repurchase Plan

Intrepid Potash Announces Expansion of Common Stock Repurchase Plan

Intrepid Potash, Inc. (“Intrepid”, “the Company”, “we”, “us”, or “our”) (NYSE:IPI) today announced that its Board of Directors (“Board”) approved an increase in the amount authorized for repurchasing shares of the Company’s common stock under the Company’s existing share repurchase program. The Board expanded the authorized amount to $50 million, an increase from the $35 million the program originally authorized in February 2022, which has approximately $13 million remaining.

The decision to increase the amount for share repurchases reflects the Board’s ongoing review of Intrepid’s capital allocation strategy, as well as the Company’s improving operating performance and strengthened balance sheet.

In addition to the increased amount allocated to share repurchases, and the Company’s continued investment in our core assets, including high-return projects to improve operating efficiencies, reduce costs, and extend mine life, the Board and management are evaluating a range of possible capital allocation initiatives, including:

Organic growth initiatives closely aligned with the Company’s core operations;