Business: CHS, Inc., 7.50% Class B Cumulative Redeemable Preferred Stock, Series 4, liquidation preference $25 per share, redeemable at the issuer's option on or after 1/21/2025 at $25 per share plus accrued and unpaid dividends, and with no stated maturity. Cumulative distributions of 7.50% per annum ($1.875 per annum or $0.46875 per quarter) will be paid quarterly on 3/31, 6/30, 9/30 & 12/31 to holders of record on the record date that will be the 10th day prior to the payment date or on the record date fixed by the board, not more than 30 days or less than 10 days prior to the payment date (NOTE: the ex-dividend date is one business day prior to the record date). In the event of a change in control, each holder of the Class B Preferred Stock will have the right, for a period of 90 days from the date of the change in control, to require the Issuer to redeem the shares owned by that holder at $25.00 per share plus all accumulated and unpaid dividends. Dividends paid by this preferred security are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders (see page S-31 of the prospectus for further information). This security was not rated by Moody’s or S&P at the time of its IPO. In regards to payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.