Corteva, Inc. · NYSE:CTVA
Corteva — Corteva Agriscience — Bernstein Strategic Decisions Conference 2019
14 slides from Corteva's conference presentation, May 30, 2019
Slide 1: Bernstein Strategic Decisions Conference
Bernstein Strategic Decisions Conference Jim Collins Chief Executive Officer – Elect Corteva Agriscience, Agriculture Division of DowDuPont May 30, 2019 Insert Risk Classification Agriculture Division of DowDuPont
Slide 2: Safe Harbor Regarding Forward-Looking Statements
Safe Harbor Regarding Forward-Looking Statements Forward-Looking Statements This communication contains “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1
Slide 3: A Reminder About Non-GAAP Statements and Pro Forma Financial Information
A Reminder About Non-GAAP Statements and Pro Forma Financial Information Corteva Unaudited Pro Forma Financial Information In order to provide the most meaningful comparison of results of operations, supplemental unaudited pro forma financial information has been included in the above presentation.
Slide 4: Creating a Pure-Play, U.S.-Based, Agriculture Company
Creating a Pure-Play, U.S.-Based, Agriculture Company Crop Crop Seeds Crop Seeds Seeds Protection & Traits Protection Protection & Traits ~70% ~44% ~56% ~30% ~80% ~20% Portfolio › Leading germplasm › Germplasm diversification › Complete solution for farmers › Digital portfolio › Herbicide and insect
Slide 5: Progress on Five Priorities for Shareholder Value Creation
Progress on Five Priorities for Shareholder Value Creation Corteva Indications 01 02 03 04 05 Instill a strong Drive disciplined Develop innovative Attain best-in-class Deliver above- culture capital allocation solutions cost structure market growth Engaged Finalized capital Launched new Delivered y
Slide 6: New Products Launched After the Merger Close
New Products Launched After the Merger Close Seed Crop Protection Digital COTTON SOYBEANS SEED APPLIED INSECT MGMT. TECHNOLOGY SOLUTIONS Quick insights into financial and agronomic performance CORN DISEASE HERBICIDE SOLUTIONS SOLUTIONS Enlist E3™ soybeans are jointly developed by Dow AgroSciences an
Slide 7: Getting to Best-in-Class Cost Structure and Improved Return
Getting to Best-in-Class Cost Structure and Improved Return Seed Production Commercial Headcount R&D Sites CP Manufacturing Sites Offices MERGER CLOSE SEPTEMBER ~25,000 90 287 233 2 site 2017 shutdowns and $1.2 billion 15+ site Cost Synergy SEPTEMBER optimization Run Rate 2018 ~23,000 74 220 196 Ach
Slide 8: Optimizing Capital Allocation for Growth and Shareholder Value
Optimizing Capital Allocation for Growth and Shareholder Value Establish Capital Structure Define Financial Policies Deliver ROIC Improvement JUNE 1, 2019 | Expected Spin Priorities › Maintain financial flexibility to support › Committed to growing cash flow in a › Deliver merger cost synergies busi
Slide 9: Unprecedented Season Taking Shape in the United States
Unprecedented Season Taking Shape in the United States Wettest June – April Period January 31 10 Earnings Release Cold, wet spring across the U.S. Corn June 1 - June 25 Belt and flooding impact season Prevent Plant Election › Anticipated 9 shift from March 31 Prospective soybean to Plantings corn 8
Slide 10: Corteva is positioned to deliver shareholder value
Corteva is positioned to deliver shareholder value Market and Innovative pipeline channel presence Margin expansion Balanced portfolio Above market Best team growth Agriculture Division of DowDuPont 10
Slide 11: Important Notices
Important Notices DO NOT APPLY DICAMBA HERBICIDE IN-CROP TO SOYBEANS WITH Roundup Ready 2 Xtend® technology unless you use a dicamba herbicide Agrisure® and Agrisure Viptera®are registered trademarks of, and used under license from, a Syngenta Group Company. Agrisure® technology incorporated into pr
Slide 12: Reconciliation of non-GAAP financial measures
Corteva Agriscience ("Corteva" or the "Company") Reconciliation of non-GAAP financial measures Some Corteva communications or presentations to investors contain certain financial measures that are not defined under accounting principles generally accepted in the United States of America ("GAAP"). No
Slide 13: Selected Segment Information and Pro Forma Operating EBITDA
Corteva Corteva Selected Segment Information Selected Non-GAAP Calculation of Corteva Pro Forma Operating EBITDA In millions YTD 2018 YTD 2017 YTD 2016 Pro forma net sales by segment 1 Pro forma (loss) income from continuing operations, net of tax (GAAP) $ (4,962) $ 2,569 $ 528 In millions YTD 2018
Slide 14: Jim Collins
James C. Collins, Jr. will be the chief executive officer of Corteva. He was previously chief operating officer for the Agriculture Division of DowDuPont. Prior to the DowDuPont merger, he was an executive vice president at DuPont responsible for the company’s Agriculture segment, including DuPont C
Corteva Agriscience — Bernstein Strategic Decisions Conference 2019 on 6ix