Intrepid Potash, Inc. ("Intrepid", "our", "us", or "we") (NYSE:IPI), today announced that on April 2, 2026, Intrepid Potash-New Mexico, LLC entered into an Asset Purchase Agreement ("Agreement") with HydroSource Logistics, LLC ("HydroSource") for the sale of the majority of the assets of the Intrepid South Ranch ("the Ranch").

As total consideration, under the Agreement, Intrepid received a payment of $70 million from HydroSource, which includes an $8 million dollar deposit we received in December 2025. The sale of the Ranch includes approximately 21,793 acres of fee land; 27,858 acres associated with federal grazing leases; water rights located on the Ranch; and various other assets, interests, and related agreements (all collectively "the Assets"). The Assets comprise the majority of the operations in our oilfield solutions segment.