Icahn Enterprises (IEP) Registration Filing summary

Company overview and business model

• Operates as a diversified holding company with interests in Investment, Energy, Automotive, Food Packaging, Real Estate, Home Fashion, and Pharma segments.

• Holds a 99% limited partner interest in its main operating partnership; general partner is controlled by Carl Icahn, who, with affiliates, owns about 86% of outstanding units as of June 30, 2025.

• Investment segment consists of proprietary capital invested through private funds, with no outside investors.

• Energy segment includes majority ownership of CVR Energy, which operates in petroleum refining, renewable fuels, and nitrogen fertilizer production.

• Automotive segment exited the aftermarket parts business in Q1 2025, focusing on repair, maintenance, and real estate leasing.

Financial performance and metrics

• As of June 30, 2025, interests in investment funds had a fair value of approximately $2.5 billion, down from $2.7 billion at year-end 2024.

• Owned approximately 70% of CVR Energy and 91% of Viskase Companies as of June 30, 2025.

Use of proceeds and capital allocation

• Net proceeds from securities sales will be used for general partnership purposes, including investments in subsidiaries and potential acquisitions.

• Management retains broad discretion over capital allocation, with no specific commitments to future acquisitions at this time.