Corteva, Inc. · NYSE:CTVA
Corteva — Investor Day (September 2026)
64 slides from Corteva's investor day presentation, Sep 15, 2026
Slide 1: 2026 Investor Day
2026 Investor Day Built on genetics. Powered by innovation. September 15, 2026
Slide 2: Welcome & Opening Remarks
Welcome & Opening Remarks Kimberly Booth VICE PRESIDENT, INVESTOR RELATIONS AND FP&A
Slide 3: Legal Disclaimers
Legal Disclaimers 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, which are intended to be covered b
Slide 4: Legal Disclaimers
Legal Disclaimers Vylor Unaudited Pro Forma Financial Information and Management Adjustments (continued) This presentation also reflects management adjustments that would not be included in the pro forma financial statements prepa red in accordance with Article 11 of Regulation S -X. These adjustmen
Slide 5: Legal Disclaimers
Legal Disclaimers No Offer or Solicitation This presentation does not constitute a solicitation of a proxy, consent or authorization with respect to any securities of V ylor. This presentation also does not constitute an offer to sell or the solicitation of an offer to buy securities, nor will th er
Slide 6: Investor day webcast agenda
Investor day webcast agenda TIME AGENDA ITEM SPEAKER(S) DURATION 9:00–9:05 AM ET Welcome, safe harbor language Kim Booth 5 MINS 9:05–9:30 AM ET CEO address — strategy overview Chuck Magro 25 MINS 9:30–9:55 AM ET Growth through innovation Sam Eathington 25 MINS 9:55–10:20AM ET Positioned for success
Slide 7: Introducing Vylor
Introducing Vylor Chuck Magro CHIEF EXECUTIVE OFFICER
Slide 8: Vylor is the only global pure-play ag genetics platform
CEO perspective “Vylor is the only global pure-play ag genetics platform.” Chuck Magro, CEO 8
Slide 9: An unrivaled innovator with a century-long track record
An unrivaled innovator with a century-long track record 2025 revenue: ~$10B1 REVENUE BY REGION Pioneer® is the #1 U.S. corn and soybean brand REVENUE BY CROP Established platforms Global reach across 300+ with diversified mix ~70 countries Products launched annually Other 5 4% ~27% 4 Oilseeds Asia P
Slide 10: What we have delivered
What we have delivered REVENUE1 ($B) OPERATING EBITDA1 ($B) EBITDA MARGIN1 Key accomplishments since 2020 • Advantaged routes -to-market with the $2.6 27% #1 U.S. corn and soybean brand $9.9 • Launched over 1,700 new products $7.8 (hybrids and varieties) 16% • Improved net licensing position $1.2 by
Slide 11: Foundational drivers of agriculture technology remain intact
Foundational drivers of agriculture technology remain intact Food security Changing weather patterns Energy transition Growing population with ~5 – 25% potential reduction Global biofuels demand is on track to ~2B more people in the in crop yields in key regions from reach ~80 billion gallons annual
Slide 12: What sets Vylor apart
What sets Vylor apart Innovation 1 Strongest genetic foundation 2 at scale 3 Faster commercialization Global germplasm library supports yield Advanced R&D and production Integrated routes -to-market leadership and a structural advantage. accelerates genetic gain through deliver innovation directly b
Slide 13: A top-tier global seed and genetics company with proven leadership and depth
TO BE UPDATED - WILL ALSO ADD FOOTNOTES FOR ABBREVIATIONS A top-tier global seed and genetics company with proven leadership and depth CORN SOYBEANS WHEAT 7 4 1 Vylor’s regional leadership positions1 Differentiated Differentiated Differentiated Technology Platforms Technology Platforms Technology Pl
Slide 14: Vylor performance acceleration framework
Vylor performance acceleration framework New and adjacent opportunities Expand into future value pools • Largest ag gene editing patent estate outside China • Technology licensing beyond core crops • Addressable market expands well beyond today’s Biofuels seed business Scale our growth platforms Hyb
Slide 15: Licensing unlocks incremental value
Licensing unlocks incremental value Americas: $4B licensing market opportunity Established platform with diversified mix generating ~$0.4B in licensing revenue in 2026 VALUE TO INDUSTRY VALUE TO VYLOR North America ~$2B Corn Soy Increased choice for Expanded market access farmers and independent bey
Slide 16: Hybrid Wheat: the next $1B platform
Hybrid Wheat: the next $1B platform Globally important crop; small in Vylor today; proprietary technology expected to scale to $1B by 2040 A century of U.S. yield growth Wheat opportunity Why Vylor can win U.S. YIELDS YIELD • World’s most widely cultivated crop • Driven by novel non -GMO, GROWTH — n
Slide 17: The transformational potential of gene editing
The transformational potential of gene editing Protect against Increase Withstand Deliver consumer disease & pests crop output stresses benefits • Disease & pest resistance • Higher yield • Expanded shelf -life • Convenience, ease of use • Climate resilience • Harvest efficiency • Transport durabili
Slide 18: Capital allocation
Disciplined capital allocation strategy Share repurchases Capital investment • Preferred method to return capital Invest for growth • Fund high ROI projects Capital • Intention to authorize $3B share repurchase • Support organic growth in attractive end markets program in 4Q allocation 2027–2029 M&A
Slide 19: Vylor growth algorithm
Vylor growth algorithm This decade… Next decade… 2027–2029 TARGETS ~3–4% Net sales 1 CAGR 12 technology platforms launching in next 10 years ~7–8% Operating EBITDA 1 CAGR at midpoint $2B incremental corn revenues by 2035, including licensing $0.5B incremental soybean revenues by 2035, including lice
Slide 20: Vylor's management team
Vylor’s management team Chuck David Judd Sam Audrey Brian Jennifer Magro Johnson O’Connor Eathington Grimm Lutz Johnson Chief Executive Chief Financial Chief Commercial Chief Technology Chief People Chief Digital and Chief Legal Officer Officer and Operations Officer Officer Information Officer Offi
Slide 21: Key takeaways
Key takeaways 1 2 3 4 Unique agriculture Multiple innovation - Disciplined execution Proven leadership and technology driven growth driving long -term reinforcing compelling platform powered by platforms value creation growth opportunity intellectual property Built on genetics. Powered by innovation
Slide 22: Innovation & proprietary technology unlocks growth
Innovation & proprietary technology unlocks growth Sam Eathington CHIEF TECHNOLOGY OFFICER
Slide 23: Vylor's leadership advantage in innovation
Vylor’s leadership advantage in innovation TODAY- NEXT DECADE Unlocking Vylor’s bold future… 2020-2025 A track-record of delivery Technology platforms to be launched 1926-2019 A first-mover legacy 12 in the next decade New hybrids and varieties 1,700+ launched in 10 crops Industry’s first biotech Yi
Slide 24: Vylor's industry-leading innovation solves increasing production challenges
INDUSTRY-LEADING INNOVATION PILLARS Vylor’s industry-leading innovation solves Gene editing increasing production challenges Industry -leading science portfolio focused on improvement in core and adjacent crops INSECTS WEEDS DISEASES ABIOTIC STRESSES Biotechnology Industry -leading portfolio of trai
Slide 25: Vylor's innovation portfolio enables current & future value
Vylor’s innovation portfolio enables current & future value Vylor will launch 12 technology platforms in the next decade GROWING VALUE NEXT GENERATION TECHNOLOGY NEW PROPRIETARY PRODUCTS Vylor’s innovation pipeline is Vylor will deliver Vylor’s industry-leading germplasm and portfolio shaped by our
Slide 26: More value per R&D dollar: proven at Corteva, continue at Vylor
More value per R&D dollar: proven at Corteva, continue at Vylor Realized Corteva returns from 2019 to 2025, and the forward pipeline value carried into Vylor, measured against major competitors PROVEN Corteva | 2019–2025 CONTINUING Vylor | Forward pipeline Revenue per $1 of seed R&D Peak sales poten
Slide 27: Proprietary germplasm & advanced breeding creates sustained annual yield gains
Proprietary germplasm & advanced breeding creates sustained annual yield gains ADVANCED TECHNOLOGIES Industry-leading germplasm for 100+ years Corn Soybean Products launched (2025) Products delivered (2020 -2025) 1 #1 in the U.S. 300+ 1,700+ SUSTAINED ANNUAL YIELD INCREASES SUSTAINED ANNUAL YIELD IN
Slide 28: Expanding Vylor's sustained yield performance and advantage in the field
Expanding Vylor’s sustained yield performance and advantage in the field Sustained Yield Advantage Proprietary Genetic Technology Gene Editing CORN CORN CORN +6.3 Yield & Yield Stability (YYS) • Industry’s first biotech trait to bu/A improve yield and yield stability average yield advantage of Top
Slide 29: Hybrid wheat system enables new value for farmers
Hybrid wheat system enables new value for farmers, new core crop for Vylor NEW VALUE – Vylor's proprietary technology unlocks productivity potential under normal and stressed conditions HYBRID WHEAT OPPORTUNITY: VALUE HYBRID WHEAT BREEDING SYSTEM: TO FARMERS: North America Launches1: • Breakthrough
Slide 30: Vylor set to launch seven corn technology platforms in the next decade
Vylor set to launch seven corn technology platforms in the next decade1 Industry leading technology solving insect, weed, disease, & extreme weather problems; unlocking higher yield Seven corn technology platforms are worth $6–$7B3 Base technology platforms by region NORTH AMERICA LATIN AMERICA Next
Slide 31: Vylor set to launch four soybean technology platforms in the next decade
Vylor set to launch four soybean technology platforms in the next decade1 Industry leading platforms solving pest and disease problems; unlocking higher yield Four soybean technology platforms are worth $3B–$3.5B3 NORTH AMERICA LATIN AMERICA ACCELERATED LAUNCH Novel Herbicide Tolerance Portfolio Nex
Slide 32: Industry-leading gene editing position & Genlytix ecosystem
Vylor’s industry-leading gene editing position & Genlytix ecosystem1 expands growth opportunity GROWING VALUE Expanding global opportunity Accelerating our leadership since 2024 The industry-leading gene editing ecosystem to accelerate sustainable agriculture Added 6 crop species Doubled gene target
Slide 33: Vylor set to double annual yield improvement with gene editing
Vylor set to double annual yield improvement with gene editing in elite germplasm WORLD CLASS VYLOR’S ADVANTAGE Improves Improvesyield: yield: Improves standability: Bridges geographies: BREEDING ENGINE FOR GENE EDITING 4-8 bu/A1 1 4-8bu/A 30% height reduction Expands 2 -3 RM zones Industry-leading
Slide 34: Gene editing advancements set to simplify disease management
Vylor’s gene editing advancements set to simplify disease management Better disease management in cropping systems helps farmers protect yield Growing Foundational advantage Global germplasm pool with >90K 3.3 Pb 2 genomics Industry -leading phenotyping of Pipeline corn lines enable wide screening s
Slide 35: Vylor's leadership in innovation underpins value and growth opportunities
Vylor’s leadership in innovation, proprietary solutions underpin strong value and growth opportunities Vylor’s innovation differentiators Growing value New technology platforms launching in the next Gene editing 12 decade — the Largest in the Industry Industry -leading position in gene editing , Gen
Slide 36: A closer look at our seed business
A closer look at our seed business Judd O'Connor CHIEF COMMERCIAL AND OPERATIONS OFFICER
Slide 37: Unlocking a meaningfully larger opportunity
Unlocking a meaningfully larger opportunity Vylor’s seed and genetics expands our addressable market well beyond existing value pool 2025 2035E Additional expanded Above market opportunities: growth through: ~$60B ~$75B • New traits • Hybrid wheat value creation TRADITIONAL ROW CROP TRADITIONAL ROW
Slide 38: Our end-to-end operating model sets Vylor apart
Our end-to-end operating INDUSTRY-LEADING R&D model sets Vylor apart 100 years of Superior germplasm Strong pipeline of breeding expertise driving genetic gain proprietary traits Creating value with a farmer focused mindset Vylor One Seed Value for farmers • Innovative pipeline with competitive prod
Slide 39: Seed operations network: quality, reliable supply at scale
Seed operations network: 60 production sites quality, reliable supply at scale North America Europe 7 sites Asia 3 sites 37 sites Seed production process optimized through automation and AI Africa 5 sites FIELD ACTIVITIES South America 8 sites • Planting • Field management • Harvest • Stabilization
Slide 40: Comprehensive route-to-market based on customer segmentation
Comprehensive route-to-market based on customer segmentation and buying preferences Enables a differentiated customer experience through industry-leading brand portfolio FLAGSHIP PIONEER® FULL-SERVICE RETAIL BRAND REGIONAL & DISTRIBUTION BRANDS TRAIT AND GERMPLASM LICENSING1 BRAND GLOBALLY ~12 COUNT
Slide 41: Unlocking a new era in yield: corn technology platforms
Unlocking a new era in yield: 7 corn technology platforms in ten years fit 90% of Americas corn market Leading position globally with 2025 Top 40 Products delivering 6.9 bu/A yield advantage2 -- creates foundation for future launches NORTH AMERICA CORN MARKET LATIN AMERICA CORN MARKET Above ground Y
Slide 42: Proven market leader in U.S. soybeans, unlocking growth in Latin America
Proven market leader at scale with elite germplasm in U.S. soybeans, unlocking growth in Latin America NORTH AMERICA LATIN AMERICA Market leader ~65% • #1 HT soybean trait >30% • Latin America is in U.S. 1 Trait penetration Vylor’s largest soybean with continued +60 ppts Trait penetration (U.S.) +30
Slide 43: Extending our corn & soy advantage across high-value regional crops
Extending our corn & soy advantage across high-value regional crops Primary Vylor Crop geography position Examples Creating new market biofuel opportunities through partnerships Vylor leverages our WHEAT U.S. & Hybrid • Proven lineup of patented Soft Red Winter Wheat varieties with proprietary genet
Slide 44: Licensing improves ROI, accelerates growth
Licensing improves ROI, accelerates growth Available through Vylor One Strategic approach tailored by market—licensing growth in 2020s expanding rapidly in the 2030s 2035 AND BEYOND: Global expansion EARLY 2030’s: Mix evolution • Extend market reach through targeted opportunities in Europe, Africa,
Slide 45: Proven seed and genetics engine with multiple paths to value creation
Proven seed and genetics engine with multiple paths to value creation Proven core, a larger addressable market ahead, and multiple paths to compound growth over time Innovation -driven products 1 2 and solutions: world class Global production network: global R&D and proprietary scale and operational
Slide 46: Break
Break Vylor
Slide 47: Financial model & long-term value creation
Financial model & long-term value creation David Johnson CHIEF FINANCIAL OFFICER
Slide 48: Setting the stage: 2026E net sales
Setting the stage: 2026E net sales Product sales1 ($B) Licensing sales1 ($B) Total sales1 ($B) $10.0 $0.4 = $10.4 Corn Soybean Other Oilseeds Other Corn Soybean Other Oilseeds Americas Rest of World Unrivaled route to market Licensing margin expansion Productivity cost advantage 1. Represent managem
Slide 49: 2026–2029 financial framework
2026–2029 financial framework NET SALES1 ($B) OPERATING EBITDA1 ($B) Key assumptions ~$11.2 – ~$3.3 – 11.9 $3.7 Price -for-value strategy Increased licensing income ~$10.4 Share gains in key markets 2026E ~$2.8 Cost and productivity actions 2029E Targeting ~60% FCF conversion 1 Operating EBITDA marg
Slide 50: Market assumptions 2027–2029
Market assumptions 2027–2029 Seed planted area stable versus 2026 outlook Crop commodity prices remain relatively stable versus current On-farm demand and competitive landscape remain steady Consistency in global trade policy and export market accessibility Constant currency versus 2027 outlook rate
Slide 51: Straightforward 2029 growth algorithm
Straightforward 2029 growth algorithm NET SALES1 BRIDGE ($B) Key assumptions Currency ~$11.2 – Licensing LSD seed price and mix 11.9 income from new technology Volume >70% increase in licensing income +3% vs. 2026 Growth Price/Mix ~$10.4 Elite germplasm on track to double genetic gain by 2035 ~$10.1
Slide 52: Operating EBITDA growth outlook: 2026–2029
Operating EBITDA growth outlook: 2026–2029 OPERATING EBITDA1 BRIDGE ($B) Key assumptions Net cost Net and R&D licensing productivity LSD seed price / mix from new technology SG&A / currency / +10% other Growth $3.3 – >$200M EBITDA improvement in net Base $3.7 licensing ~$2.8 business ~$2.6 Benefits
Slide 53: Exceptional business model of capturing value on innovation
Exceptional business model of capturing value on innovation PRICE/MIX TRENDS OVER TIME (% YOY GROWTH) 2016-2025 Value capture 2– 3% per year Key drivers • Seed pricing demonstrates durable value delivery and Value equation Elite germplasm yield gains + structural resilience, supporting consistent gr
Slide 54: Licensing inflection
Licensing inflection NET LICENSING EXPENSE/INCOME ($M) 2020 2025 2030E 2035E Licensing income driven by adoption of Enlist E3 ® soybeans and Conkesta E3 ® ~$1B soybeans and PowerCore ® Enlist ® corn ~$300 ~65% of US soy acres and >10% Brazil soy acres utilizing Enlist technology in 2026 >120 license
Slide 55: Vylor seasonality based on annual business cycle
Vylor seasonality based on annual business cycle First half 2025 • Northern Hemisphere selling season Seed sales1 (%) by half — Primarily NA and Europe • Includes tail -end Brazil Safrinha season • Seasonal debt builds • Substantial n et working capital outflow, driven by U.S. business model 27% Sec
Slide 56: Capital allocation strategy
Capital allocation strategy SOURCES AND USES OF CASH 2027–2029 Summary highlights Cumulative $5.5 – $6.5B free cash flow 1 Strong BBB+ / Baa1 investment grade rating $7.0–$8.0B ~65% M&A and share repurchases Intend to return ~$1B annually via disciplined 2027–2029 cash flow share repurchases, absent
Slide 57: Strategic M&A priorities
Strategic M&A priorities Focused, KEY AREAS OF FOCUS OUR M&A APPROACH FINANCIAL CRITERIA disciplined approach Wheat Targeted & capability -driven Above -market revenue growth Value creation and Gene editing technology Return -focused investments returns > hurdle rate Adjacent crops Disciplined valua
Slide 58: Financial highlights
Financial highlights 2027-2029 GOALS VALUE DRIVERS Top-line growth driven Innovation pipeline and licensing platform position Vylor for durable, 3–4% revenue1 CAGR2 by pipeline innovation above -market growth 7–8% EBITDA1 CAGR2 Earnings growth and Licensing inflection, pricing power, and productivit
Slide 59: Q&A session
Q&A session Vylor
Slide 60: Closing remarks
Closing remarks Chuck Magro CHIEF EXECUTIVE OFFICER
Slide 61: Why invest with us?
Why invest with us? 1 Leadership in well -structured market 2 World-class germplasm and breeding 3 Unparalleled farmer relationships 4 Licensing expands reach and returns 5 New value pools: gene editing, wheat, and biofuels 6 Strong earnings, margins, and cash flow growth 7 Proven, high -performing
Slide 62: Appendix
Appendix Vylor
Slide 63: Reconciliation of Pro Forma Income to Pro Forma Operating EBITDA
Reconciliation of Pro Forma Income (Loss) from Continuing Operations to Pro Forma Operating EBITDA and Adjusted Pro Forma Operating EBITDA 2025 ($ in Millions) Margin % 4 1 Pro forma Income (loss) from continuing operations after income taxes (GAAP) $325 3.2% Provision for (benefit from) income taxe
Slide 64: Important Notices
Important Notices ABRANVO ® Trademarks of Corteva Agriscience or its affiliated companies. The transgenic soybean event in Conkesta E3® soybeans and Enlist E3 ® soybeans is jointly developed and owned by Corteva Agriscience and M.S. Technologies L.L.C. Enlist Duo® and Enlist One® herbicides are not