All statements, other than statements of historical fact, contained in this Quarterly Report on Form 10-Q constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements relate to future events or our future financial performance, and involve known and unknown risks, uncertainties, and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements include, but are not limited to, the following: our mining and industrial operations; geological conditions; weather conditions; our continued ability to access ambient lake brine in the Great Salt Lake; dependency on a limited number of key production and distribution facilities and critical equipment; the inability to fund necessary capital expenditures or successfully complete capital projects; uncertainties in estimating our economically recoverable reserves and resources; the useful life of our mine properties; conversion of mineral resources into mineral reserves; strikes, other forms of work stoppage or slowdown or other union activities; supply constraints or price increases for energy, including the ongoing conflict in Iran and geopolitical tensions that could lead to significant disruption of global energy supplies and increases in global energy prices, and raw materials used in our production processes; our indebtedness and inability to pay our indebtedness; restrictions in our debt agreements that may limit our ability to operate our business or require accelerated debt payments; tax liabilities; the inability of our customers to access credit or a default by our customers of trade credit extended by us; financial assurance requirements; our payment of any dividends; the seasonal demand for our products; variables impacting effective inventory management may adversely impact our performance; the impact of anticipated changes in potash product prices and customer application rates; the impact of competition on the sales of our products; inflation risks; increasing costs or a lack of availability of transportation services; risks associated with our international operations and sales, including the impact of any tariffs and changes in currency exchange rates; conditions in the sectors where we sell products and supply and demand imbalances for competing products, including the impact of any tariffs; our rights and governmental authorizations to mine and operate our properties; risks related to unanticipated litigation or investigations or pending litigation or investigations or other contingencies; compliance with environmental, health and safety laws and regulations; environmental liabilities; compliance with foreign and United States (“U.S.”) laws and regulations related to import and export requirements and anti-corruption laws; changes in laws, industry standards and regulatory requirements, including any changes in tariffs imposed; product liability claims and product recalls; misappropriation or infringement claims relating to intellectual property; inability to obtain required product registrations or increased regulatory requirements; our ability to successfully implement our strategies; risks related to labor shortages and the loss of key personnel; a compromise of our computer systems, information technology or operations technology or the inability to protect confidential or proprietary data; climate change and related laws and regulations; our ability to expand our business through acquisitions and investments, realize anticipated benefits from acquisitions and investments and integrate acquired businesses; outbreaks of contagious disease or similar public health threats; domestic and international general business and economic conditions; our ability to successfully remediate the material weakness in our internal controls over financial reporting disclosed in this Form 10-Q; and other risks referenced from time to time in this report and our other filings with the Securities and Exchange Commission (the “SEC”), including Part I, Item 1A, “Risk Factors” of our Annual Report on Form 10-K for the annual period ended September 30, 2025 (“2025 Form 10-K”). In some cases, you can identify forward-looking statements by terminology such as “may,” “might,” “will,” “should,” “could,” “expects,” “intends,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” “continue,” the negative of these terms or other comparable terminology. Forward-looking statements include without limitation statements about our outlook, including expected sales volumes and costs; existing or potential capital expenditures; capital projects and investments; the industry and our competition; projected sources of cash flow; potential legal liability; proposed or recently enacted legislation and regulatory action; the seasonal distribution of working capital requirements; our reinvestment of foreign earnings outside the U.S.; payment of future dividends and ability to reinvest in our business; our ability to optimize cash accessibility, minimize tax expense and meet debt service requirements; future tax payments, tax refunds and valuation allowances; leverage ratios; realization of potential savings from our restructuring activities; outcomes of matters with taxing authorities; the effects of currency fluctuations and inflation, including our ability to recover inflation-based cost increases; the seasonality of our business; and the effects of climate change. These forward-looking statements are only predictions. Actual events or results may differ materially. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. We undertake no duty to update any of the forward-looking statements after the date hereof or to reflect the occurrence of unanticipated events. 25 Table of Contents COMPASS MINERALS INTERNATIONAL, INC. Unless the context requires otherwise, references to the “Company,” “Compass Minerals,” “our,” “us” and “we” refer to Compass Minerals International, Inc. (“CMI,” the parent holding company) and its consolidated subsidiaries. Except where otherwise noted, references to North America include only the continental U.S. and Canada, and references to the United Kingdom (“UK”) include only England, Scotland and Wales. Except where otherwise noted, all references to tons refer to “short tons” and all amounts are in U.S. dollars. One short ton equals 2,000 pounds and one metric ton equals 2,204.6 pounds. Compass Minerals and Protassium+ and combinations thereof, are trademarks of CMI or its subsidiaries in the U.S. and other countries. Critical Accounting Estimates A discussion of our critical accounting estimates used in preparation of our consolidated financial statements is presented under the heading "Management’s Discussion of Critical Accounting Estimates" in Part II, Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in our 2025 Form 10-K. Company Overview Compass Minerals is a leading global provider of essential minerals, including salt, sulfate of potash (“SOP”) specialty fertilizer and magnesium chloride. As of June 30, 2026, we operate 11 production and packaging facilities, including: •The largest rock salt mine in the world in Goderich, Ontario, Canada; •The largest dedicated rock salt mine in the UK in Winsford, Cheshire; •A solar evaporation facility located near Ogden, Utah, which is both the largest sulfate of potash specialty fertilizer production site and the largest solar salt production site in the Western Hemisphere; and •Several mechanical evaporation facilities producing consumer and industrial salt. Our Salt segment provides highway deicing salt to customers in North America and the UK as well as consumer deicing and water conditioning products, ingredients used in consumer and commercial food preparation, and other salt-based products for consumer, industrial, chemical and agricultural applications in North America. In the UK, we operate a records management business, included in Corporate and Other, utilizing excavated areas of our Winsford salt mine with one other location in London, England. Our Plant Nutrition segment produces and markets SOP products in various grades worldwide to distributors and retailers of crop inputs, as well as growers and for industrial uses. We market our SOP under the trade name Protassium+®. We expect production costs to remain elevated in the near term as we continue investing in productivity and maintenance initiatives at our mines, while logistics costs may continue to be impacted by inflationary pressure, fuel price volatility, and transportation constraints. Concurrently, we are advancing enterprise-wide cost optimization initiatives focused on network efficiency, procurement, and contract management to support sustainable margin improvement and risk mitigation. Following a stronger-than-average winter season that drove elevated demand and reduced inventory levels across the industry, we currently expect demand in fiscal 2027 to be lower than fiscal 2026, reflecting normalized weather assumptions. Redemption of 2027 Notes. On March 30, 2026, we redeemed in full the remaining $150.0 million outstanding 6.75% Senior Notes due 2027 (the “2027 Notes”) using cash on hand at 100% of principal plus accrued interest. See Note 7. Long-Term Debt and Finance Lease Liabilities in the Notes to Condensed Consolidated Financial Statements under Item 1 of the Part I of this Form 10-Q for further information. AR Securitization Facility. On March 19, 2026, certain of our U.S. subsidiaries entered into a Sixth Amendment to our Accounts Receivable Securitization Facility (“AR Facility”) of up to $100.0 million with PNC Bank, National Association (“PNC”), as administrative agent and lender, and PNC Capital Markets, LLC, as structuring agent, extending the facility to March 2029. See Note 7. Long-Term Debt and Finance Lease Liabilities in the Notes to Condensed Consolidated Financial Statements under Item 1 of the Part I of this Form 10-Q for further information. Sale and Disposition of Wynyard SOP Business. On February 3, 2026, we entered into a share purchase agreement (the “Share Purchase Agreement”) to sell our SOP business in Wynyard, Saskatchewan, Canada. The Share Purchase Agreement provided for total consideration of approximately $30.8 million, prior to indebtedness and working capital adjustments of $2.1 million. The transaction closed on March 1, 2026. At closing, we received cash proceeds of $23.3 million, net of (i) $3.9 million placed in escrow, (ii) $1.3 million of cash on hand transferred to the buyer, and (iii) $0.2 million of transaction costs. As a result of the transaction, we recorded a pre-tax (gain) loss on sale of business, net, of $(0.1) million, for the three months 26 Table of Contents COMPASS MINERALS INTERNATIONAL, INC. ended June 30, 2026, and $14.5 million, for the nine months ended June 30, 2026, which included $13.1 million of foreign currency translation adjustments reclassified from Accumulated other comprehensive loss. Prior to the sale and disposition, the results of the Wynyard SOP business represented less than 3% of our total sales and were included in the Plant Nutrition operating segment. While the disposition did not have a material impact on consolidated operating results, it does affects comparability of Plant Nutrition segment results to prior periods. See Note 3. Dispositions in the Notes to the unaudited condensed consolidated financial statements (“Condensed Consolidated Financial Statements”) under Item 1 of Part I of this Form 10-Q for further information. 8.00% Senior Notes due 2030. On June 16, 2025, we issued $650.0 million aggregate principal amount of our 8.00% Senior Notes due 2030 (the “2030 Notes”) in a private offering, pursuant to an indenture, dated June 16, 2025. We used the net proceeds from the 2030 Notes to (i) repay $43.5 million under the revolving credit facility and $191.3 million under the term loan under our senior secured credit facility, (ii) redeem approximately $350.0 million of our 2027 Notes at a redemption price of 101.125% of the principal amount, plus accrued and unpaid interest, (iii) pay transaction-related fees and expenses, (iv) increase cash on our balance sheet, and (v) for general corporate purposes. See Note 7. Long-Term Debt and Finance Lease Liabilities in the Notes to Condensed Consolidated Financial Statements under Item 1 of the Part I of this Form 10-Q for further information. Fortress Exit. On March 25, 2025, we took measures to align our cost structure to current business needs as part of a larger strategic refocus to improve the profitability of our core Salt and Plant Nutrition businesses. Specifically, we began the process of exiting the Fortress North America, LLC (“Fortress”) fire retardant business and terminating the employment of all Fortress employees. The results of operations of Fortress were included in Corporate and Other segment. As a result of the above items impacting Fortress, we determined that there were indicators of impairment with the associated Fortress intangible assets and long-lived assets. We recorded a Loss on impairment of $53.7 million, consisting of $53.0 million related to intangible assets and $0.7 million related to long-lived assets, for the nine months ended June 30, 2025. See Note 3. Dispositions in the Notes to Condensed Consolidated Financial Statements under Item 1 of the Part I of this Form 10-Q for further information. On May 30, 2025, we entered into an Asset Purchase Agreement, selling substantially all Fortress assets for $20.0 million in cash. We paid approximately $0.4 million of costs related to the sale. The assets included in the sale had a net book value of approximately $17.2 million. The fair value of proceeds received, net of transaction costs, exceeded the carrying amount, resulting in a gain of $2.4 million, recorded in Other expense (income), net, in the Condensed Consolidated Statements of Operations for both the three and nine months ended June 30, 2025. Tariffs. We continue to monitor the current tariff landscape including the U.S. Supreme Court decision overturning U.S. tariffs initiated in calendar 2025. As our products are United States-Mexico-Canada (“USMCA”) compliant under the USMCA trade agreement, we have experienced minimal impact from tariff developments and our exports from Canada into the United States were previously exempt from tariffs. On July 20, 2026, the U.S. government announced additional tariffs of up to 50% on certain Canadian imports under Section 338 of the Tariff Act of 1930, which are scheduled to become effective on August 19, 2026. To mitigate potential financial exposure arising from U.S. tariffs that may be imposed on imported salt products, we have proactively implemented measures within some of our commercial arrangements, including tariff pass-through provisions that have become standard in several key customer contracts. To the extent imported salt products are ultimately subject to U.S. tariffs, these provisions may help offset a portion of the associated cost impacts. We continue to monitor regulatory developments and assess the potential implications of any tariff actions. However, the ultimate impact of such U.S. tariffs on our business, financial condition, results of operations, and cash flows remains uncertain. OBBBA. On July 4, 2025, the U.S. enacted a budget reconciliation package known as the “One Big Beautiful Bill Act of 2025” (“OBBBA”), which includes both tax and non-tax provisions. While we are benefiting from the relaxing of interest deduction limitations, we do not view the OBBBA to significantly impact our income tax profile. 27 Table of Contents COMPASS MINERALS INTERNATIONAL, INC. Consolidated Results of Operations The following is a summary of our consolidated results of operations for the three and nine months ended June 30, 2026 (also referred to as “QTR 2026” and “YTD 2026,” respectively) and three and nine months ended June 30, 2025 (also referred to as “QTR 2025” and “YTD 2025,” respectively). The following discussion should be read in conjunction with the information contained in our Condensed Consolidated Financial Statements and the notes thereto included in this Quarterly Report on Form 10-Q. THREE AND NINE MONTHS ENDED JUNE 30 Commentary: Three Months Ended June 30, 2026 Compared to Three Months Ended June 30, 2025 •Total sales increased 0.3%, or $0.7 million, primarily due to higher Salt sales, partially offset by lower Plant Nutrition sales. Salt sales increased due to higher average sales prices, partially offset by lower sales volumes, while Plant Nutrition sales decreased due to lower sales volumes, partially offset by higher average sales prices. •Operating income decreased by $5.0 million to $10.9 million from an operating income of $15.9 million in the prior- year period, primarily reflecting lower Salt operating income, partially offset by higher Plant Nutrition operating income. Salt operating income decreased primarily due to lower sales volumes and higher per-unit product and per-unit shipping and handling costs, partially offset by higher average sales prices. Plant Nutrition operating income increased primarily due to higher average sales prices and lower per-unit product and per-unit shipping and handling costs, partially offset by lower sales volumes. •Diluted net loss per common share improved to $0.13 from $0.41 net loss per common share in the prior-year period. •Net loss was $5.7 million for the three months ended June 30, 2026, compared to a net loss of $17.0 million for the three months ended June 30, 2025, primarily reflecting higher foreign exchange gains, lower loss on debt extinguishments, and lower impairment losses, partially offset by lower gross profit and higher selling, general and administrative expense and higher income tax expense. 28 Table of Contents COMPASS MINERALS INTERNATIONAL, INC. Commentary: Nine Months Ended June 30, 2026 Compared to Nine Months Ended June 30, 2025 •Total sales increased 4.7%, or $48.2 million, primarily due to higher Salt sales and modestly higher Plant Nutrition sales. Salt and Plant Nutrition sales increased due to higher average sales prices, partially offset by lower sales volumes. •Operating income increased by $90.2 million to $103.5 million, from an operating income of $13.3 million in the prior-year period, primarily reflecting higher Salt and Plant Nutrition operating income and the absence of an impairment loss during the nine months ended June 30, 2026, compared to a $53.7 million loss on impairment recorded during the nine months ended June 30, 2025. Salt operating income increased primarily due to higher average sales prices, partially offset by higher per-unit product and per-unit shipping and handling costs and lower sales volumes. Plant Nutrition operating income increased primarily due to higher average sales prices, lower per-unit product and per-unit shipping and handling costs, partially offset by lower sales volumes. •Diluted net income per common share improved to $0.59, compared to a net loss per common share of $1.74 in the prior-year period. •Net income was $25.6 million for the nine months ended June 30, 2026, compared to a net loss of $72.6 million for the nine months ended June 30, 2025, primarily reflecting lower impairment losses, higher gross profit, higher foreign exchange gains, reduced selling, general and administrative expenses, and lower income tax expense, partially offset by the recognition of a loss on the sale of the Wynyard SOP business. THREE AND NINE MONTHS ENDED JUNE 30 Commentary: Three Months Ended June 30, 2026 Compared to Three Months Ended June 30, 2025 Gross Profit and Gross Margin: •Gross profit decreased 8.0%, or $3.3 million, primarily due to lower Salt segment gross profit, partially offset by higher Plant Nutrition segment gross profit. Gross margin decreased by 1.6 percentage points to 17.6%. •Salt segment gross profit decreased $6.8 million, primarily due to lower sales volumes and higher per-unit product and per-unit shipping and handling costs, partially offset by higher average sales prices. Salt per-unit shipping and handling cost increases were due to a combination of inflationary pressure on logistics rates and fuel and wider mix of shipping points. •Plant Nutrition segment gross profit increased $3.2 million, primarily due to higher average sales prices and lower per-unit product and per-unit shipping and handling costs, partially offset by lower sales volumes. Plant Nutrition per-unit shipping and handling cost decreases reflect a combination of changes in customer and mode of transportation mix and inflationary pressure on logistics rates. 29 Table of Contents COMPASS MINERALS INTERNATIONAL, INC. Commentary: Nine Months Ended June 30, 2026 Compared to Nine Months Ended June 30, 2025 Gross Profit and Gross Margin: •Gross profit increased 20.9%, or $31.8 million, primarily reflecting higher Plant Nutrition and Salt segment gross profits. Gross margin increased by 2.3 percentage points to 17.3%. •Salt segment gross profit increased $8.4 million, primarily due to higher average sales prices, partially offset by lower sales volumes and higher per-unit product and per-unit shipping and handling costs. Salt per-unit shipping and handling cost increases were due to a combination of inflationary pressure on logistics rates and fuel and wider mix of shipping points. •Plant Nutrition segment gross profit increased $20.5 million, due to higher average sales prices and lower per-unit product and per-unit shipping and handling costs, which were partially offset by lower sales volumes. Plant Nutrition per-unit shipping and handling cost decreases reflect a combination of changes in customer and mode of transportation mix and inflationary pressure on logistics rates. OTHER EXPENSES AND INCOME Commentary: Three Months Ended June 30, 2026 Compared to Three Months Ended June 30, 2025 Selling, General and Administrative Expenses: •The increase of $3.0 million in selling, general and administrative expense from $24.0 million to $27.0 million during the three months ended June 30, 2026, compared to three months ended June 30, 2025, was primarily due to higher incentive compensation expense and increased consulting costs incurred to support executive leadership initiatives and operational improvements at our manufacturing facilities. These increases were partially offset by a decrease in outside legal costs. Loss on Impairments: •No impairment loss was recorded during the three months ended June 30, 2026. During the three months ended June 30, 2025, we recorded an impairment loss of long-lived assets of $0.7 million related to the exit of the Fortress fire retardant business. See Note 3. Dispositions in the Notes to Condensed Consolidated Financial Statements under Item 1 of Part I of this Form 10-Q for further information. Other Operating Expense: •Other operating expense was $0.0 million for the three months ended June 30, 2026, compared to $0.6 million in the prior-year period, primarily due to product recall and restructuring costs incurred in the prior-year period. See Note 3. Dispositions and Note 8. Commitments and Contingencies in the Notes to Condensed Consolidated Financial Statements under Item 1 of Part I of this Form 10-Q for further information. Interest Expense: •Interest expense decreased by $1.7 million to $14.6 million for the three months ended June 30, 2026, from $16.3 million in the prior-year period, primarily due to lower average borrowings. See Note 7. Long-Term Debt and Finance Lease Liabilities in the Notes to Condensed Consolidated Financial Statements under Item 1 of the Part I of this Form 10-Q for further information. (Gain) Loss on Foreign Exchange: •Foreign exchange gain was $4.0 million during the three months ended June 30, 2026, compared to a loss of $8.4 million in the same quarter of the prior-year period, primarily reflecting the translation of our intercompany loans from Canadian dollars to U.S. dollars. Loss on Extinguishment of Debt: •No loss on debt extinguishment was recorded during the three months ended June 30, 2026. During the three months ended June 30, 2025, we recorded a loss on extinguishment of debt of $7.6 million, comprised of a $3.9 million prepayment premium related to the partial redemption of 2027 Notes and a $3.7 million write-off of unamortized deferred financing costs related to the partial redemption of 2027 Notes and repayment of our term loan. 30 Table of Contents COMPASS MINERALS INTERNATIONAL, INC. Other Expense (Income), net: •Other expense was $0.2 million for the three months ended June 30, 2026, compared to other income of $2.5 million for the three months ended June 30, 2025, primarily due to a gain related to the sale of the Fortress assets in the prior year period. Income Tax Expense: •Income tax expense increased by $3.0 million for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, primarily due to higher pre-tax income generated in foreign jurisdictions. •Our effective tax rate exceeded 100% for the three months ended June 30, 2026, primarily due to tax expense on foreign earnings recognized while losses in the U.S. generated limited tax benefits due to valuation allowances against U.S. deferred tax assets. •Our income tax provision for both the three months ended June 30, 2026 and June 30, 2025 differs from the U.S. statutory rate primarily due to U.S. valuation allowance expense, statutory depletion, state income taxes, nondeductible executive compensation, foreign income, mining and withholding taxes, and base erosion and anti-abuse tax. Commentary: Nine Months Ended June 30, 2026 Compared to Nine Months Ended June 30, 2025 Selling, General and Administrative Expenses: •The decrease of $6.3 million in selling, general and administrative expense from $86.9 million to $80.6 million during the nine months ended June 30, 2026, compared to the nine months ended June 30, 2025, was primarily due to lower legal costs and incentive compensation expense, partially offset by increased consulting costs incurred to support executive leadership initiatives and operational improvements at our manufacturing facilities. Loss on Impairments: •No impairment loss was recorded during the nine months ended June 30, 2026. During the nine months ended June 30, 2025, we recorded an impairment loss of $53.7 million related to intangible and long-lived assets due to the exit of the Fortress fire retardant business. See Note 3. Dispositions in the Notes to Condensed Consolidated Financial Statements under Item 1 of Part I of this Form 10-Q. Other Operating Income: •Other operating income was $0.0 million for the nine months ended June 30, 2026 compared to $1.6 million in the prior-year period. Other operating income in the prior-year period was mostly due to changes in contingent consideration related to the Fortress acquisition, partially offset by severance costs resulting from the decision to exit the Fortress fire retardant business. See Note 3. Dispositions in the Notes to Condensed Consolidated Financial Statements under Item 1 of Part I of this Form 10-Q. Interest Expense: •Interest expense decreased $0.6 million to $50.6 million for the nine months ended June 30, 2026, from $51.2 million in the prior-year period, primarily due to lower average borrowings. (Gain) Loss on Foreign Exchange: •Foreign exchange gain was $7.5 million during the nine months ended June 30, 2026, compared to a loss of $3.1 million in the prior-year period, primarily reflecting the translation of our intercompany loans from Canadian dollars to U.S. dollars. Loss on Sale of Business, Net: •The sale of our Wynyard SOP business during the nine months ended June 30, 2026, resulted in a pre-tax loss on sale of business, net, of $14.5 million, which included $13.1 million of cumulative foreign currency translation adjustments reclassified from Accumulated other comprehensive loss, with no comparable activity in the prior-year period. See Note 3. Dispositions in the Notes to Condensed Consolidated Financial Statements under Item 1 of Part I of this Form 10-Q. 31 Table of Contents COMPASS MINERALS INTERNATIONAL, INC. Loss on Extinguishment of Debt: •During the nine months ended June 30, 2026, we recorded a $0.5 million loss on extinguishment of debt related to the write-off of unamortized deferred financing costs from the redemption of the 2027 Notes. During the nine months ended June 30, 2025, we recorded a loss on extinguishment of debt of $7.6 million, comprised of a $3.9 million prepayment premium related to the partial redemption of the 2027 Notes and a $3.7 million write-off of unamortized deferred financing costs related to the partial redemption of 2027 Notes and repayment of our term loan. Other Expense, net: •Other expense was $1.0 million for the nine months ended June 30, 2026, compared to $2.0 million for the nine months ended June 30, 2025, which was primarily due to fees paid and the write-off of previously capitalized deferred financing costs when we modified our credit agreement in the prior-year period. Income Tax Expense: •Tax expense decreased by $2.7 million for the nine months ended June 30, 2026, compared to the nine months ended June 30, 2025, primarily due to reserves recorded in the nine months ended June 30, 2025. For the nine months ended June 30, 2026, the impact of the sale of the Wynyard SOP business recorded in the second quarter and the impact of the Ontario mining tax settlement recorded in the first quarter, largely offset each other. See Note 6. Income Taxes and Note 3. Dispositions in the Notes to Condensed Consolidated Financial Statements under Item 1 of Part I of this Form 10-Q. •Our effective tax rate was 44.1% for the nine months ended June 30, 2026, primarily due to tax expense on income in foreign jurisdictions, partially offset by losses recognized in the U.S. for which a valuation allowance has been recorded against the U.S. tax benefit carryforward as well as previously mentioned impacts of the Ontario mining tax settlement and the sale of the Wynyard SOP business. See Note 6. Income Taxes and Note 3. Dispositions in the Notes to Condensed Consolidated Financial Statements under Item 1 of Part I of this Form 10-Q. •Our income tax provision for both the nine months ended June 30, 2026 and June 30, 2025 differs from the U.S. statutory rate primarily due to U.S. valuation allowance expense, statutory depletion, state income taxes, nondeductible executive compensation, foreign income, mining and withholding taxes, impacts of the Ontario mining tax settlement, impacts of the sale of the Wynyard SOP business, and base erosion and anti-abuse tax. Operating Segment Performance The following financial results represent consolidated financial information with respect to the operations of our Salt and Plant Nutrition segments. Sales primarily include revenue from the sales of our products, or “product sales,” and the impact of shipping and handling costs incurred to deliver our salt and plant nutrition products to our customers. The results of operations of the consolidated records management business and other incidental revenues include sales of $3.8 million for both the three months ended June 30, 2026 and June 30, 2025, and $11.2 million and $11.0 million for the nine months ended June 30, 2026 and June 30, 2025, respectively. These sales were not material to our consolidated financial results and were not included in the following operating segment financial data. 32 Table of Contents COMPASS MINERALS INTERNATIONAL, INC. Salt Segment Three Months Ended Nine Months Ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Salt Sales (in millions) $ 173.9 $ 166.0 $ 888.0 $ 840.9 Salt Operating Income (in millions) $ 21.2 $ 28.1 $ 135.5 $ 124.4 Salt Sales Volumes (thousands of tons) Highway 1,074 1,144 7,518 7,714 Consumer and industrial 411 400 1,506 1,428 Total tons sold 1,485 1,544 9,024 9,142 Average Salt Sales Price (per ton) Highway $ 83.74 $ 77.63 $ 77.10 $ 71.52 Consumer and industrial $ 204.09 $ 193.26 $ 204.69 $ 202.60 Combined $ 117.07 $ 107.54 $ 98.40 $ 91.99 Commentary: Three Months Ended June 30, 2026 Compared to Three Months Ended June 30, 2025 •Salt sales increased $7.9 million, or 4.8%, primarily due to higher total average sales price, partially offset by lower total sales volumes. •Total salt sales volumes decreased 3.8%, or 59,000 tons. Highway sales volumes decreased 6.1% and consumer and industrial sales volumes increased 2.8%. •Combined average sales prices increased 8.9% between the two periods, reflecting changes in sales price mix. Highway average sales price increased 7.9%, while consumer and industrial average sales price increased 5.6%. •Salt operating income decreased $6.9 million, primarily due to lower sales volumes and higher per-unit product and per-unit shipping and handling per-unit costs, partially offset by higher average sales price. Commentary: Nine Months Ended June 30, 2026 Compared to Nine Months Ended June 30, 2025 •Salt sales increased $47.1 million, or 5.6%, primarily due to higher total average sales price, partially offset by lower total sales volumes. •Total salt sales volumes decreased 1.3%, or 118,000 tons. Highway sales volumes decreased 2.5%, while consumer and industrial sales volumes increased 5.5%. •Combined average sales prices increased 7.0% between the two periods, reflecting changes in sales price mix. Highway average sales price increased 7.8%, while consumer and industrial average sales price increased 1.0%. •Salt operating income increased $11.1 million, driven by higher average sales price, partially offset by higher per-unit product and per-unit shipping and handling costs and lower total sales volumes. Plant Nutrition Segment Three Months Ended Nine Months Ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Plant Nutrition Sales (in millions) $ 37.6 $ 44.8 $ 165.4 $ 164.5 Plant Nutrition Operating Income (in millions) $ 7.8 $ 5.2 $ 20.8 $ 0.3 Plant Nutrition Sales Volumes (thousands of tons) 55 68 240 263 Plant Nutrition Average Sales Price (per ton) $ 687 $ 659 $ 689 $ 625 33 Table of Contents COMPASS MINERALS INTERNATIONAL, INC. Commentary: Three Months Ended June 30, 2026 Compared to Three Months Ended June 30, 2025 •Plant Nutrition sales decreased 16.1%, or $7.2 million, reflecting a 19.1% decrease in sales volume, partially offset by a 4.3% increase in average sales prices, compared to the prior-year period. The decline in sales volumes was primarily due to the disposition of the Wynyard SOP business in March 2026. Excluding the impact of the disposition, sales volumes increased approximately 3.6% year over year. •Plant Nutrition operating income was $7.8 million, an improvement from an operating income of $5.2 million in the prior-year period, primarily due to higher average sales prices, lower per-unit product and per-unit shipping and handling costs, partially offset by lower sales volumes. Commentary: Nine Months Ended June 30, 2026 Compared to Nine Months Ended June 30, 2025 •Plant Nutrition sales increased 0.5%, or $0.9 million, reflecting a 10.2% increase in average sales prices and a 8.7% decrease in sales volumes year over year. The decrease in sales volumes was primarily attributable to the disposition of the Wynyard SOP business in March 2026, while volumes in the remaining Plant Nutrition operations declined approximately 1% compared to the prior-year period. •Plant Nutrition operating income was $20.8 million an improvement from an operating income of $0.3 million in the prior-year period, primarily due to higher average sales prices and lower per-unit product and per-unit shipping and handling costs, partially offset by lower sales volumes. Reconciliation of Net (Loss) Income to EBITDA and Adjusted EBITDA Management uses a variety of measures to evaluate our performance. While our condensed consolidated financial statements, taken as a whole, provide an understanding of our overall results of operations, financial condition and cash flows, we analyze components of the condensed consolidated financial statements to identify certain trends and evaluate specific performance areas. In addition to using U.S. GAAP financial measures, such as gross profit, net (loss) income and cash flows generated by operating activities, management uses income before interest, taxes, depreciation and amortization (“EBITDA”) adjusted for items management believes are not indicative of our ongoing operating performance (“Adjusted EBITDA”). Both EBITDA and Adjusted EBITDA are non-GAAP financial measures used to evaluate the operating performance of our core business operations because our resource allocation, financing methods, cost of capital and income tax positions are managed at a corporate level, apart from the activities of the operating segments, and our operating facilities are located in different taxing jurisdictions, which can cause considerable variation in net (loss) income. We also use EBITDA and Adjusted EBITDA to assess our operating performance and return on capital against other companies, and to evaluate potential acquisitions or other capital projects. EBITDA and Adjusted EBITDA are not calculated under U.S. GAAP and should not be considered in isolation or as a substitute for net (loss) income, cash flows or other financial data prepared in accordance with U.S. GAAP or as a measure of our overall profitability or liquidity. EBITDA and Adjusted EBITDA exclude interest expense, income taxes and depreciation, depletion, and amortization, each of which are an essential element of our cost structure and cannot be eliminated. Furthermore, Adjusted EBITDA excludes other cash and non-cash items, including stock-based compensation, interest income, (gain) loss on foreign exchange, other expense (income), net and other significant items that management does not consider indicative of normal operations. Other significant items, if any, such as restructuring charges, (gain) loss on sale of a business, loss on extinguishment of debt, and impairment charges involve distinct initiatives that are not reflective of core operating activities and affect the comparability of our operational results across reporting periods. Our borrowings are a significant component of our capital structure and interest expense is a continuing cost of debt. We are also required to pay income taxes, a required and ongoing consequence of our operations. We have a significant investment in capital assets and depreciation, depletion, and amortization reflect the utilization of those assets in order to generate revenues. Our employees are vital to our operations and we utilize various stock-based awards to compensate and incentivize our employees. Consequently, any measure that excludes these elements has material limitations. While EBITDA and Adjusted EBITDA are frequently used as measures of operating performance, these terms are not necessarily comparable to similarly titled measures of other companies due to the potential inconsistencies in the method of calculation. 34 Table of Contents COMPASS MINERALS INTERNATIONAL, INC. Net loss decreased $11.3 million for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, primarily reflecting higher foreign exchange gains, lower loss on debt extinguishment, and lower impairment loss of $0.7 million, partially offset by lower gross profit, higher selling, general and administrative expenses and higher income tax expense. For the nine months ended June 30, 2026, net income was $25.6 million, compared to a net loss of $72.6 million for the nine months ended June 30, 2025, primarily reflecting lower impairment losses of $53.7 million, higher gross profit of $31.8 million, higher foreign exchange gains, lower loss on debt extinguishment, and reduced selling, general and administrative expenses, partially offset by the recognition of a loss on the sale of the Wynyard SOP business of $14.5 million. Adjusted EBITDA remained relatively consistent for the three months ended June 30, 2026, compared to the three months ended June 30, 2025. For the nine months ended June 30, 2026, Adjusted EBITDA increased $34.4 million, compared to the nine months ended June 30, 2025, primarily due to increases in gross profit and a reduction in selling, general and administrative expenses. The calculation of EBITDA and Adjusted EBITDA as used by management is set forth in the table below (in millions): Three Months Ended June 30, Nine Months Ended June 30, 2026 2025 2026 2025 Net (loss) income $ (5.7) $ (17.0) $ 25.6 $ (72.6) Interest expense 14.6 16.3 50.6 51.2 Income tax expense 6.4 3.4 20.2 22.9 Depreciation, depletion and amortization 25.6 23.2 80.2 76.5 EBITDA 40.9 25.9 176.6 78.0 Adjustments to EBITDA: Stock-based compensation - non-cash 3.4 0.6 7.9 7.3 Interest income (0.5) (0.3) (1.4) (0.9) (Gain) loss on foreign exchange (4.0) 8.4 (7.5) 3.1 (Gain) loss on sale of business, net(a) (0.1) — 14.5 — Loss on extinguishment of debt(b) — 7.6 0.5 7.6 Product recall costs(c) — 0.3 — 2.1 Restructuring charges(d) — 0.3 — 4.3 Loss on impairments(e) — 0.7 — 53.7 Other expense (income), net 0.2 (2.5) 1.0 2.0 Adjusted EBITDA $ 39.9 $ 41.0 $ 191.6 $ 157.2 (a)For the three months ended June 30, 2026, we recorded a gain of $0.1 million related to transaction cost adjustments in connection with the sale of the Wynyard business. For the nine months ended June 30, 2026, we recorded a Loss on sale of the Wynyard business of $14.5 million, which included a $13.1 million recognition of cumulative foreign currency translation adjustments reclassified from Accumulated other comprehensive loss. (b)For the nine months ended June 30, 2026, we recorded a $0.5 million loss on extinguishment of debt related to the write-off of deferred financing costs from the redemption of the 2027 Notes. For the three and nine months ended June 30, 2025, we recorded a $7.6 million loss on extinguishment of debt, comprised of a $3.9 million prepayment premium related to the partial redemption of the 2027 Notes and a $3.7 million write-off of unamortized deferred financing costs related to the partial redemption of 2027 Notes and repayment of the term loans. (c)We recorded costs of $0.3 million and $2.1 million related to a recall of food-grade salt produced at out Goderich plant for the three and nine months ended June 30, 2025, respectively. Refer to Note 8. Commitments and Contingencies in the Notes to Condensed Consolidated Financial Statements under Item 1 of Part I of this Form 10-Q for additional details. (d)For the three and nine months ended June 30, 2025, we incurred severance and related charges of $0.3 million and $4.3 million, respectively, due to a reduction in workforce, changes to executive leadership and additional restructuring costs related to the exit of the Fortress fire retardant business. (e)For the three and nine months ended June 30, 2025, we recorded a Loss on impairments of $0.7 million and $53.7 million, respectively, related to intangible assets and long-lived assets due to the exit of the Fortress fire retardant business. Liquidity and Capital Resources Historically, our cash flows from operating activities have generally been adequate to fund our basic operating requirements, ongoing debt service and sustaining investment in our property, plant and equipment. We have also used cash generated from operations to fund capital expenditures, pay dividends, fund smaller acquisitions and repay our debt. To a certain extent, our ability to meet our short- and long-term liquidity and capital needs is subject to general economic, financial, competitive and 35 Table of Contents COMPASS MINERALS INTERNATIONAL, INC. weather conditions, effects of climate change, geological variations in our mine deposits and other factors that are beyond our control. Historically, our working capital requirements were the highest in the first fiscal quarter (ending December 31) and lowest in the third fiscal quarter (ending June 30). When needed, we may fund short-term working capital requirements by accessing our $325 million revolving credit facility and our revolving AR Securitization Facility to March 2029 with a capacity, which is subject to certain conditions, of up to $100.0 million. As of June 30, 2026, we had liquidity of approximately $328.1 million, comprised of $56.3 million of cash and cash equivalents and $271.8 million of availability under our $325 million revolving credit facility. We have been able to manage our cash flows generated and used across Compass Minerals to indefinitely reinvest earnings in our foreign jurisdictions or efficiently repatriate those funds to the U.S. As of June 30, 2026, we had $14.5 million cash and cash equivalents that were either held directly or indirectly by foreign subsidiaries. In fiscal 2025, excluding tax free repatriations, we did not repatriate any unremitted foreign earnings. During the nine months ended June 30, 2026, we repatriated approximately $11 million of unremitted foreign earnings from our UK operations on which there was no income tax impact as of June 30, 2026. It is our current intention to continue to reinvest the remaining undistributed earnings of our foreign subsidiaries indefinitely. We review our tax circumstances on a regular basis with the intent of optimizing cash accessibility and minimizing tax expense. In addition, the amount of permanently reinvested earnings is influenced by, among other things, the profits generated by our foreign subsidiaries and the amount of investment in those same subsidiaries. The profits generated by our U.S. and foreign subsidiaries are impacted by the transfer price charged on the transfer of our products between them. In November 2025, we reached a settlement with a Canadian provincial tax authority regarding a tax dispute. The settlement resolved the dispute for tax years 2002 through 2018 for a total net expected cash outlay of $8.7 million, after taking into account expected federal refunds and deductions associated with the agreed upon tax and interest as well as estimated subsequent tax year impacts. With the settlement, the performance bonds of $157.4 million posted as collateral for the 2002 through 2018 period were released. See Note 6. Income Taxes in the Notes to Condensed Consolidated Financial Statements under Item 1 of Part I of this Form 10-Q, for a discussion regarding our Canadian tax reassessments. Management assesses the available positive and negative evidence to estimate whether sufficient future taxable income will be generated to permit use of the existing deferred tax assets. A significant piece of objective negative evidence evaluated was the cumulative loss incurred in the U.S. over the three-year period ended June 30, 2026. Such objective evidence limits the ability to consider other subjective evidence, such as our projections for future income. On the basis of this evaluation, during the nine months ended June 30, 2026, an additional valuation allowance of $7.2 million has been recorded to recognize the portion of the U.S. deferred tax assets that are more likely than not to be realized. The amount of the deferred tax assets considered realizable, however, could be adjusted if estimates of future taxable income during the carryforward period are increased or reduced or if objective negative evidence in the form of cumulative losses is no longer present and additional weight is given to subjective evidence such as our projections for income. Indebtedness As of June 30, 2026, we had $728.0 million of outstanding indebtedness, consisting of $650.0 million outstanding under our 8.00% Senior Notes due 2030, $43.0 million of outstanding loans under the accounts receivable financing facility (“AR Facility”), and $35.0 million of borrowings outstanding under our revolving credit facilities under the Credit Agreement, (see Note 7. Long-Term Debt and Finance Lease Liabilities in the Notes to Condensed Consolidated Financial Statements under Item 1 of Part I of this Form 10-Q for more detail regarding our debt). Outstanding letters of credit totaling $18.2 million as of June 30, 2026 further reduced available borrowing capacity under our revolving credit facility to $271.8 million. We may borrow amounts under the revolving credit facility or enter into additional financing to fund our working capital requirements, potential acquisitions and capital expenditures, and for other general corporate purposes. Our ability to make scheduled interest and principal payments on our indebtedness, to modify our indebtedness, to fund planned capital expenditures, and to fund acquisitions will depend on our ability to generate cash in the future. This, to a certain extent, is subject to general economic, financial, competitive, legislative, climate-related, regulatory and other factors that are beyond our control. Based on our current level of operations, we believe that cash flow from operations and available cash, together with available borrowings under our revolving credit facility, will be adequate to meet our liquidity needs over the next 12 months. Our debt service obligations could, under certain circumstances, materially affect our financial condition and prevent us from fulfilling our debt obligations. As a holding company, CMI’s investments in its operating subsidiaries constitute substantially all of its assets. Consequently, our subsidiaries conduct substantially all of our consolidated operating activities and own 36 Table of Contents COMPASS MINERALS INTERNATIONAL, INC. substantially all of our operating assets. The principal source of the cash needed to pay our obligations is the cash generated from our subsidiaries’ operations and their borrowings. Furthermore, we must remain in compliance with the terms of the 2023 Credit Agreement governing our credit facilities, including the consolidated first lien net leverage ratio and consolidated interest coverage ratio, in order to pay dividends to our stockholders. We must also comply with the terms of our indentures governing our 8.00% Senior Notes due July 2030, which limit the amount of dividends we can pay to our stockholders. Capital Allocation Principally due to the nature of our deicing business, our cash flows from operations have historically been seasonal, with the majority of our cash flows from operations generated during the first half of the calendar year. When we have not been able to meet our short-term liquidity or capital needs with cash from operations, whether as a result of the seasonality of our business or other causes, we have met those needs with borrowings under our revolving credit facility. We expect to meet the ongoing requirements for debt service, any declared dividends and capital expenditures from these sources. This, to a certain extent, is subject to general economic, financial, competitive, legislative, regulatory and other factors that are beyond our control. We manage our capital allocation considering our long-term strategic objectives, required spending to sustain our business and focus on generating adequate returns on capital. On April 22, 2024, our Board of Directors determined not to declare dividends for the foreseeable future in order to align our capital allocation policy with our corporate focus on accelerating cash flow generation and debt reduction. While our equipment and facilities are generally not impacted by rapid technology changes, our operations require refurbishments and replacements to maintain structural integrity and reliable production and shipping capabilities. When possible, we incorporate efficiency, environmental and safety improvement capabilities into our routine capital projects and we plan the timing of larger projects to balance with our liquidity and capital resources. In the near term, our capital allocation priorities remain focused on investing in the maintenance of our assets to support our existing operations and on continued debt reductions, where appropriate. As our balance sheet strengthens and our financial position continues to improve, we may evaluate additional uses of capital and are considering a capital allocation framework to, among other things, implement such uses. The timing and nature of any future capital allocation decisions will depend on our financial performance, liquidity position, capital requirements, and market conditions. Historical Cash Flows The table below provides a summary of our sources and uses of cash (in millions): Nine Months Ended June 30, 2026 2025 Net cash provided by operating activities $ 162.8 $ 204.6 Net cash used in investing activities (39.8) (34.7) Net cash used in financing activities (127.1) (111.5) Effect of exchange rate changes on cash and cash equivalents 0.7 0.8 Net change in cash and cash equivalents $ (3.4) $ 59.2 As of June 30, 2026, we had cash and cash equivalents of $56.3 million, compared to $59.7 million as of September 30, 2025. Cash Flows from Operating Activities Net cash provided by operating activities, as reflected in the Condensed Consolidated Statements of Cash Flows, were $162.8 million, for the nine months ended June 30, 2026, as compared to $204.6 million, for the nine months ended June 30, 2025. As mentioned above, our Salt segment’s business is seasonal and our Salt segment results and working capital needs are heavily impacted by the severity and timing of the winter weather, which generally occurs from December through March of each year. Customers tend to replenish their inventory prior to the start of the winter season and following snow events; consequently, the number and timing of snow events during the winter season will impact the amount of our accounts receivable and inventory at the end of each quarter. Our operating cash flows for both the nine months ended June 30, 2026 and June 30, 2025, reflect the seasonal decrease in inventories due to the end of the winter season. 37 Table of Contents COMPASS MINERALS INTERNATIONAL, INC. During the nine months ended June 30, 2026, changes in Other assets and Other liabilities primarily reflect the settlement of the tax dispute with the Canadian tax authorities, of which previously recorded deposits were applied to the amount due at settlement. See Note 6. Income Taxes in the Notes to Condensed Consolidated Financial Statements under Item 1 of Part I of this Form 10-Q, for further information. Cash Flows from Investing Activities Net cash used in investing activities, as reflected in the Condensed Consolidated Statements of Cash Flows, were $39.8 million and $34.7 million, during the nine months ended June 30, 2026 and June 30, 2025, respectively. Cash outflows from investing activities for capital expenditures during the nine months ended June 30, 2026 and June 30, 2025 were $62.1 million and $53.8 million, respectively. The capital expenditures primarily reflects maintenance-related projects. We estimate that our cash outflows for capital expenditures will be approximately $90 million to $110 million for the fiscal year ended September 30, 2026. On February 3, 2026, we entered into an agreement to sell our SOP business in Wynyard, Saskatchewan, Canada. The transaction closed on March 1, 2026. As a result, we received $23.3 million proceeds from sale of business, net of cash and transaction costs. For further information, see Note 3. Dispositions in the Notes to Condensed Consolidated Financial Statements under Item 1 of Part I of this Form 10-Q. Cash Flows from Financing Activities Net cash used in financing activities, as reflected in the Condensed Consolidated Statements of Cash Flows, were $127.1 million, for the nine months ended June 30, 2026, compared to net cash used by financing activities of $111.5 million, for the nine months ended June 30, 2025. Net cash used in financing activities primarily consisted of the redemption of the remaining $150.0 million of the 2027 Notes, partially offset by net borrowings under the revolving credit facility of $35.0 million, during the nine months ended June 30, 2026. In the prior-year period, we issued $650.0 million of 2030 Notes and used the proceeds to repurchased $350.0 million of 2027 Notes, repaid $43.5 million under our revolving credit facility, and repaid $191.3 million under our term loan facilities. On March 19, 2026, certain of our U.S. subsidiaries entered into a Sixth Amendment to our AR Facility, extending the facility to March 2029. Product Recall On October 25, 2024, we issued a recall for specific production lots of food-grade salt produced at our Goderich Plant following a customer report of a non-organic, foreign material in our product. We subsequently expanded the voluntary recall to include food products from the Goderich Plant between September 18, 2024 and November 6, 2024. We followed recall protocol and notified the BRCGS Global Standard for Food Safety certifying body, the Canadian Food Inspection Agency (“CFIA”) and the U.S. Food and Drug Administration (“FDA”). We completed our investigation and continue to assess the scope and magnitude of customer claims related to the recall. At this time, based on currently available information and our applicable insurance coverage, we do not believe any incremental losses will have a material adverse effect on our results of operations or cash flows in future periods. The recall in the United States, supervised by the FDA, is complete, and the matter is closed with FDA. The CFIA has conducted a follow-up inspection of the Goderich Plant to verify compliance with regulatory requirements and identified no non-compliances. See Note 8. Commitments and Contingencies in the Notes to Condensed Consolidated Financial Statements under Item 1 of Part I of this Form 10-Q for additional details. Other Matters See Note 6. Income Taxes and Note 8. Commitments and Contingencies in the Notes to Condensed Consolidated Financial Statements under Item 1 of Part I of this Form 10-Q for a discussion regarding labor, environmental and litigation matters. Recent Accounting Pronouncements See Note 1. Accounting Policies and Basis of Presentation in the Notes to Condensed Consolidated Financial Statements under Item 1 of Part I of this Form 10-Q for a discussion of recent accounting pronouncements. 38 Table of Contents COMPASS MINERALS INTERNATIONAL, INC. Effects of Currency Fluctuations and Inflation Our operations outside of the U.S. are conducted primarily in Canada and the UK. Therefore, our results of operations are subject to both currency transaction risk and currency translation risk. We incur currency transaction risk whenever we or one of our subsidiaries enters into either a purchase or sales transaction using a currency other than the local currency of the transacting entity. With respect to currency translation risk, our financial condition and results of operations are measured and recorded in the relevant local currency and then translated into U.S. dollars for inclusion in our historical consolidated financial statements. Exchange rates between these currencies and the U.S. dollar have fluctuated significantly from time to time and may do so in the future. The majority of revenues and costs are denominated in U.S. dollars, with Canadian dollars and British pounds sterling also being significant. Significant changes in the value of the Canadian dollar or British pound sterling relative to the U.S. dollar could have a material adverse effect on our financial condition and our ability to meet interest and principal payments on U.S. dollar-denominated debt, including borrowings under our senior secured credit facilities. Although inflation has not had a significant impact on our operations in the current period, our efforts to recover inflation-based cost increases from our customers may be hampered as a result of the structure of our contracts and the contract bidding process as well as the competitive industries, economic conditions and countries in which we operate. For more information, see Part I, Item 1A, “Risk Factors” in our 2025 Form 10-K. Seasonality We experience a substantial amount of seasonality in our sales, including our salt deicing product sales. Consequently, our Salt segment sales and operating income are generally higher in the first and second fiscal quarters (ending December 31 and March 31) and lower during the third and fourth fiscal quarters of each year (ending June 30 and September 30). In particular, sales of highway and consumer deicing salt and magnesium chloride products vary based on the severity of the winter conditions in areas where the products are used. Following industry practice in North America and the UK, we seek to stockpile sufficient quantities of deicing salt throughout the first, third and fourth fiscal quarters (ending December 31, June 30 and September 30) to meet the estimated requirements for the winter season. Our plant Nutrition business is also seasonal. As a result, we and our customers generally build inventories during the Plant Nutrition business’ low demand periods of the year (which are typically winter and summer, but can vary due to weather and other factors) to ensure timely product availability during the peak sales seasons (which are typically spring and autumn, but can also vary due to weather and other factors). Climate Change The potential impact of climate change on our operations, product demand and the needs of our customers remains uncertain. Significant changes to weather patterns, a reduction in average snowfall or regional drought within our served markets or at our Ogden facility could negatively impact customer demand for our products and our costs, as well as our ability to produce our products. For example, prolonged periods of mild winter weather could reduce the demand for our deicing products. Drought or excessive precipitation could similarly impact demand for our SOP products, as well as continue to impact the amount and quality of feedstock used to produce SOP at our Ogden facility due to changes in brine levels, mineral concentrations or other factors, which could have a material impact on our Plant Nutrition results of operations. Climate change could also lead to disruptions in the production or distribution of our products due to major storm events or prolonged adverse conditions, changing temperature levels, lake level fluctuations or flooding from sea level changes. Climate change or governmental initiatives to address climate change may affect our operations and necessitate capital expenditures in the future, although capital expenditures for climate-related projects are not expected to be material in fiscal 2026. For more information, see Part I, Item 1A, “Risk Factors” and Part I, Item 1 “Business—Environmental, Health and Safety and Other Regulatory Matters” in our 2025 Form 10-K.