On February 28, 2025, we completed the sale of the Alkali Business to an indirect affiliate of WE Soda Ltd for a gross purchase price of $1.425 billion. The sale generated proceeds of approximately $1.0 billion, which reflects the net proceeds after the payment of transaction costs and expenses, the assumption of $413.4 million of our then outstanding 5.875% senior secured notes due 2042 (the “Alkali senior secured notes”) by an indirect affiliate of WE Soda Ltd, and cash divested.

A reconciliation of the line items constituting pretax income from discontinued operations to net loss from discontinued operations, net of tax, is as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Major classes of line items constituting net loss from discontinued operations:
Revenues	$	—	$	—	$	—	$	200,532
Operating costs	—		—		—		(168,871)
General and administrative	—		—		—		(156)
Depreciation, depletion and amortization	—		—		—		(18,862)
Interest expense, net	—		—		—		(4,179)
Pretax income from discontinued operations	—		—		—		8,464
Loss from the sale of the Alkali Business	—		—		—		(432,193)
Total pretax loss from discontinued operations	—		—		—		(423,729)
Income tax expense	—		—		—		(16)
Net loss from discontinued operations, net of tax	$	—	$	—	$	—	$	(423,745)


	Six Months Ended June 30,
		2026		2025
Net cash flows provided by operating activities		$	—	$	31,453
Net cash flows used in investing activities		—		(11,666)
Net cash flows used in financing activities		—		—