Slide 1: 2Q 2025 Earnings Conference Call
2Q 2025 Earnings Conference Call August 7, 2025 CTVA 2Q25 EARNINGS 1
Slide 2: Safe Harbor Regarding Forward-Looking Statements
Safe Harbor Regarding Forward-Looking Statements Forward-Looking Statements This presentation contains certain estimates and forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, whi
Slide 3: Regulation G (Non-GAAP Financial Measures)
Safe Harbor Regarding Forward-Looking Statements Regulation G (Non-GAAP Financial Measures) This presentation includes information that does not conform to U.S. GAAP and are considered non-GAAP measures. These measures may include organic sales, organic growth (including by segment and region), oper
Slide 4: CEO Messages
CEO Messages Strong Strong market execution and operational excellence accelerating margin improvement 1H Financial Seed results reflect growing demand for newest hybrids on additional U.S. corn acres Performance Crop Protection new products and biologicals delivering meaningful growth Overall
Slide 5: Crop Sector Market Outlook
Crop Sector Market Outlook Global Corn (MMT) Global Soybeans (MMT) 1,300 Production 450 Growing Global Demand for Agricultural Commodities Production 1,250 Consumption Consumption 425 1,200 400 Record consumption for grain and oilseeds continues in 2025 1,150 375 1,100 350 2025 U.S. growing cond
Slide 6: 1H 2025 Financial Performance
1H 2025 Financial Performance Metric 2Q 2025(1) 1H 2025(1) Highlights $6.5B $10.9B Seed pricing gains led by NA(3) and EMEA(3) on strength of portfolio Net Sales +6% +3% Crop Protection volume driven by new products and biologicals $6.5B $11.1B Seed price / mix gains on additional corn acres in NA O
Slide 7: 1H 2025 Operating EBITDA
1H 2025 Operating EBITDA(1) 1H 2025 Bridge Key Drivers ($ in millions) Seed pricing gains across the portfolio to capture value for technology, offset by Crop Protection competitive price pressures $274 ($149) ($25) $3,353 $173 Favorable weather and strong portfolio enable North America(2) $129
Slide 8: Updated FY 2025 Guidance
Updated FY 2025 Guidance(1) Key Metrics Operating Operating Free Cash Flow / EBITDA Margin(2) Operating EPS(2) EBITDA Revised EBITDA(2) Conversion(2) Guidance $3.75 – $3.85B ~150 bps $3.00 – $3.20 +13% at mid-point Improvement +21% at mid-point ~50% Prior $3.6 – $3.8B 100 – 150 bps $2.70 – $2.95 40
Slide 9: 2025 1H / 2H Key Operating EBITDA Drivers
2025 1H / 2H Key Operating EBITDA Drivers First Half Performance Second Half Assumptions Strong NA Seed performance on more corn acres Brazil and Argentina corn area increase LSD price gains (Seed +LSD, Crop Protection -LSD) Seed price up LSD, Crop Protection down LSD/MSD Significant produ
Slide 10: Key Takeaways
Key Takeaways Strong 1H 2025 Performance, Organic Growth in Seed and Crop Protection Net Cost of Sales Improvement Increased to $450M for Full Year Updated FY 2025 Sales, Earnings, EPS, and Free Cash Flow Guidance On-track to return ~$1.5B to Shareholders for FY 2025 FY2025 Guidance Reflects Strengt
Slide 11: Appendix
Appendix
Slide 12: 2Q 2025 Highlights
2Q 2025 Highlights ($ in millions, except EPS) 2Q 2024 2Q 2025 Change Net Sales $6,112 $6,456 +6% GAAP Income from Continuing Operations After Income Taxes $1,056 $1,382 31% Operating EBITDA(1) $1,917 $2,164 +13% Operating EBITDA Margin(1) 31.4% 33.5% +215 bps GAAP EPS from Continuing Operations $1.
Slide 13: 2Q 2025 Seed Performance Highlights
2Q 2025 Seed Performance Highlights ($ in millions) 2Q 2025 vPY 2Q 2025 Revenue by Product Line Net Sales $4,537 +5% Organic(1) Sales Growth +6% Other oilseeds(2) Other(3) Operating EBITDA $1,863 +10% - % reported growth 4% organic(1) growth Operating EBITDA Margin 41.1% +186 bps Seed Operating EBIT
Slide 14: 2Q 2025 Regional Net Sales Highlights – Seed
2Q 2025 Regional Net Sales Highlights – Seed North Latin Global Net Sales Reported Organic(1) Reported Organic(1) America(2) 5% 6% America 26% 19% 2Q 2024 2Q 2025 2Q 2024 2Q 2025 Net Sales ($M) $3,753 $3,954 Net Sales ($M) $207 $154 $4.54B $4.33B Volume Price Currency Portfolio Volume Price Currency
Slide 15: 1H 2025 Seed Performance Highlights
1H 2025 Seed Performance Highlights ($ in millions) 1H 2025 vPY 1H 2025 Revenue by Product Line Net Sales $7,244 +2% Organic(1) Sales Growth +5% Other oilseeds(2) Other(3) Operating EBITDA $2,705 +11% (5)% reported growth -% organic(1) growth Operating EBITDA Margin 37.3% +280 bps Seed Operating EBI
Slide 16: 1H 2025 Regional Net Sales Highlights – Seed
1H 2025 Regional Net Sales Highlights – Seed North Latin Global Net Sales Reported Organic(1) Reported Organic(1) America(2) 6% 7% America 29% 19% 1H 2024 1H 2025 1H 2024 1H 2025 Net Sales ($M) $5,224 $5,551 Net Sales ($M) $478 $339 $7.24B $7.08B Volume Price Currency Portfolio Volume Price Currency
Slide 17: 2Q 2025 Crop Protection Performance Highlights
2Q 2025 Crop Protection Performance Highlights ($ in millions) 2Q 2025 vPY 2Q 2025 Revenue by Product Line Net Sales $1,919 +8% Organic(1) Sales Growth +9% Biologicals Other(2) Operating EBITDA $334 +31% 8% reported growth 13% organic(1) growth Operating EBITDA Margin 17.4% 309 bps Crop Protection O
Slide 18: 2Q 2025 Regional Net Sales Highlights – Crop Protection
2Q 2025 Regional Net Sales Highlights – Crop Protection North Latin Global Net Sales Reported Organic(1) Reported Organic(1) America(2) 4% 5% America 17% 25% 2Q 2024 2Q 2025 2Q 2024 2Q 2025 $1.92B Net Sales ($M) $647 $675 Net Sales ($M) $443 $518 $1.78B Volume Price Currency Portfolio Volume Price C
Slide 19: 1H 2025 Crop Protection Performance Highlights
1H 2025 Crop Protection Performance Highlights ($ in millions) 1H 2025 vPY 1H 2025 Revenue by Product Line Net Sales $3,629 +3% Organic(1) Sales Growth +6% Other(2) Operating EBITDA $711 +26% Biologicals 5% reported growth Operating EBITDA Margin 19.6% +355 bps 12% organic(1) growth Crop Protection
Slide 20: 1H 2025 Regional Net Sales Highlights – Crop Protection
1H 2025 Regional Net Sales Highlights – Crop Protection North Latin Global Net Sales Reported Organic(1) Reported Organic(1) America(2) 2% 3% America 13% 23% 1H 2024 1H 2025 1H 2024 1H 2025 Net Sales ($M) $1,263 $1,288 Net Sales ($M) $687 $775 $3.63B Volume Price Currency Portfolio Volume Price Curr
Slide 21: Operating EPS
2Q 2025 Operating EPS(1) Variance Operating EPS(1) ($) $0.12 $(0.06) $0.02 $0.03 $2.20 $0.26 $1.83 1 2 3 5 6 2Q 2024 Volume/ Costs Currency EGL Portfolio / 2Q 2025 Price Other Volume/Price 1 Costs 2 Currency 3 Low-single digit Seed price and volume gains in Realization of Seed and Crop Protectio
Slide 22: FY 2025 Operating EBITDA
FY 2025 Operating EBITDA(1) FY 2025 Bridge Key Drivers LSD pricing gains in Seed to capture value for technology, partially ($ in millions) offset by additional Crop Protection market price pressure $3,750 - Volume gains driven by Crop Protection new products and $3,850 biologicals and additiona
Slide 23: FY 2025 Modeling Guidance – Operating Earnings Per Share
FY 2025 Modeling Guidance – Operating Earnings Per Share(1) ($ in millions, except where noted) Guidance Depreciation and Post-Merge Amortization (635 – 645) Net Interest (Expense) Income (95 – 105) Base Income Tax Rate(1) 22% – 24% Exchange Losses – net, after tax (220 – 240) Net Income – Non-contr
Slide 24: Product Disclosures
Product Disclosures TM ® SM Trademarks and service marks of Corteva Agriscience and its affiliated companies. © 2025 Corteva and its affiliated companies. The transgenic soybean event in Enlist E3® soybeans is jointly developed and owned by Corteva Agriscience LLC and M.S. Technologies, L.L.C. Enlis
Slide 25: Thank you
Thank you
Slide 26: Corteva Operating EBITDA
Corteva, Inc. Non-GAAP Calculation of Corteva Operating EBITDA Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 As As As As $ In millions Reported Margin % Reported Margin % Reported Margin % Reported Margin % Income (loss) from continuing operations after income taxes (GAAP
Slide 27: Segment Information
Corteva, Inc. Segment Information Net sales by segment Three Months Ended Six Months Ended June 30, June 30, In millions 2025 2024 2025 2024 Seed $ 4,537 $ 4,331 $ 7,244 $ 7,082 Crop Protection 1,919 1,781 3,629 3,522 Total net sales $ 6,456 $ 6,112 $ 10,873 $ 10,604 Net Margin (GAAP) Three Months E
Slide 28: Segment Information
Corteva, Inc. Segment Information Corteva significant items (Pre-tax) Three Months Ended June 30, Six Months Ended June 30, In millions 2025 2024 2025 2024 Seed Restructuring and asset related charges - net $ (1) $ (33) $ (4) $ (53) Inventory write-offs — 2 — 2 Gain (loss) on sale of assets — — — 4
Slide 29: Segment Information - Price, Volume, Currency Analysis
Corteva, Inc. Segment Information - Price, Volume, Currency Analysis Region Q2 2025 vs. Q2 2024 Percent Change Due To: Net Sales Change (GAAP) Organic Change (Non-GAAP) 2 Price & Portfolio / $ (millions) % $ (millions) % Product Mix Volume Currency Other North America 1 $ 229 5%$ 244 6% 2% 4% (1)% —
Slide 30: Segment Information - Price, Volume, Currency Analysis
Corteva, Inc. Segment Information - Price, Volume, Currency Analysis Seed Product Line Q2 2025 vs. Q2 2024 Percent Change Due To: Net Sales Change (GAAP) Organic Change (Non-GAAP) 1 Price & Portfolio / $ (millions) % $ (millions) % Product Mix Volume Currency Other Corn $ 278 10 % $ 321 12 % 4% 8% (
Slide 31: Segment Information - Price, Volume, Currency Analysis
Corteva, Inc. Segment Information - Price, Volume, Currency Analysis Region First Half 2025 vs. First Half 2024 Percent Change Due To: Net Sales Change (GAAP) Organic Change (Non-GAAP) 2 Price & Portfolio / $ (millions) % $ (millions) % Product Mix Volume Currency Other North America 1 $ 352 5%$ 378
Slide 32: Segment Information - Price, Volume, Currency Analysis
Corteva, Inc. Segment Information - Price, Volume, Currency Analysis Seed Product Line First Half 2025 vs. First Half 2024 Percent Change Due To: Net Sales Change (GAAP) Organic Change (Non-GAAP) 1 Price & Portfolio / $ (millions) % $ (millions) % Product Mix Volume Currency Other Corn $ 260 5%$ 386
Slide 33: Non-GAAP Calculation of Corteva Operating EPS
Corteva, Inc. Non-GAAP Calculation of Corteva Operating EPS Three Months Ended June 30, 2025 2024 2025 2024 $ (millions) $ (millions) EPS (diluted) EPS (diluted) Income (loss) from continuing operations attributable to Corteva common stockholders (GAAP) $ 1,380 $ 1,053 $ 2.02 $ 1.51 1 Less: Non-oper
Slide 34: Non-GAAP Calculation of Corteva Base Income Tax Rate
Corteva, Inc. Non-GAAP Calculation of Corteva Base Income Tax Rate Three Months Ended Six Months Ended June 30, June 30, $ In millions 2025 2024 2025 2024 Income (loss) from continuing operations before income taxes (GAAP) $ 1,804 $ 1,338 $ 2,588 $ 1,820 Add: Significant items (benefit) charge (33)
Slide 35: Non-GAAP Calculation of Free Cash Flow
Corteva, Inc. Non-GAAP Calculation of Free Cash Flow Twelve Months Ended December 31, 20252 In millions Low End High End Cash provided by (used for) operating activities - continuing operations (GAAP) $ 2,475 $ 2,525 Less: Capital expenditures (600) (600) Free Cash Flow (Non-GAAP) 1 $ 1,875 $ 1,925