Corteva, Inc. · NYSE:CTVA
Corteva — Corteva Agriscience — Investor Day (November 2018)
34 slides from Corteva's investor day presentation, Nov 8, 2018
Slide 1: Building Competitive Advantage
Building Competitive Advantage Tim Glenn Executive Vice President, Chief Commercial Officer November 8, 2018 Agriculture Division of DowDuPont 1
Slide 2: Region Key Takeaways
Region Key Takeaways Broad portfolio with leading positions in key Seed and Crop Protection markets Comprehensive routes-to-market approach built on strong relationships with farmers Global scale with local capabilities and deep market knowledge Strong pipeline of new products positions company well
Slide 3: Strong Opportunity in All Key Ag Markets
Strong Opportunity in All Key Ag Markets >890 MM Hectares Harvested Annually U.S. & Canada Global Market Europe, Middle East, Africa 130 MM 299MM 890 MM Latin America Asia Pacific Corn Sorghum 105 MM Rice Rapeseed 356 MM Soybean Cotton Cereals ~14% of the Value of the Global Seed and Crop Protection
Slide 4: Strong Presence in Key Markets Globally
Strong Presence in Key Markets Globally Footprint Aligned with Business Strategy U.S. & CANADA ~11,000 50 60 Net Sales* $7.5B LATIN AMERICA $2.6B ~3,000 20 20 EUROPE, MIDDLE EAST, AFRICA $1.2B $2.8B ~4,000 20 20 ASIA PACIFIC ~2,000 10 40 Production & R&D People Mfg. Facilities Facilities Note: 2017
Slide 5: Balanced Product Offering Aligned with Market Opportunity
Balanced Product Offering Aligned with Market Opportunity U.S. & Canada Global Market Europe, Middle East, Africa Corteva Agriscience™ Market Market Corteva Corteva Agriscience™ Market Agriscience™ Latin America Asia Pacific Market Market Corteva Net Sales Corteva Agriscience™ Agriscience™ Seeds Cro
Slide 6: Strengthening High-Value Positions – with Targeted Expansion Globally…
Strengthening High-Value Positions – with Targeted Expansion Globally… Sales by Region Market1 2017 Seed 4% Market 17% 15% › #1 or #2 in highest value 23% 16% global markets Asia Pacific 20% Latin America › Growth opportunities in EMEA 65% emerging regions 40% U.S. & Canada 2017 Crop Market1 Protect
Slide 7: …Through Our Comprehensive Routes-to-Market Approach
…Through Our Comprehensive Routes-to-Market Approach Multiple Brands Four Differentiated Channels Premium Global Seed Brands Pioneer Agency Model Exclusive to Pioneer – direct to farmer via independent sales representatives Regional & Retail Seed Brands Regional Brands Connect to customers through r
Slide 8: New Crop Protection Products Expected to Drive Volume and Price Growth
New Crop Protection Products Expected to Drive Volume and Price Growth New products drive sales growth › New product pipeline differentiated by region Crop Protection Targeted New Product Sales › Estimating $400MM in 2018 new product sales › Robust portfolio of fungicides and selective $2 herbicides
Slide 9: New Seed Products Expect to Drive Volume and Price Growth
New Seed Products Expect to Drive Volume and Price Growth Seed product launches are accelerating New product pipeline differentiated by region Seed Targeted New Product Sales 4 Expect $1.1B in 2018 sales from new products 3.5 $3.7B Recent biotech launches included 3 PowerCore® ULTRA, Enlist™ Corn an
Slide 10: Global Scale Drives Local Advantage
Global Scale Drives Local Advantage EUROPE, MIDDLE U.S. & CANADA EAST, AFRICA Established business that is Grow through product launches well-positioned for growth in in Seed, Crop Protection and Seed, Crop Protection and Seed Applied Technologies; Digital growth in developing markets of Eastern Eur
Slide 11: Regional Profile: U.S. & Canada
Regional Profile: U.S. & Canada U.S. & Canada $7.5B Net Sales ~11,000 50 Colleagues Production & Mfg. Facilities 31% 60+ 60 Active Ingredients R&D Facilities 69% 2 Primary Seed Crops: Countries Corn, soybean, canola, cotton, alfalfa, wheat, sorghum, sunflower Crop Protection Seed › Leading seed busi
Slide 12: Market Leadership in Seed & Crop Protection
Market Leadership in Seed & Crop Protection U.S. & Canada U.S. & Canada Seed – Corteva Agriscience™ Sales Seed Market1 Wheat, Alfalfa, Innoculants, Corn #1 Sorghum & Rice Soybean #1 U.S. and Canada Canola, Sunflower & Cotton Alfalfa #1 Addressable Canola #2 Market Soybean Cotton #3 Corn Sorghum #1 S
Slide 13: Expanding Access to Corteva Agriscience Genetics, Technology & Traits
Expanding Access to Corteva Agriscience™ Genetics, U.S. & Canada Technology & Traits through Multiple Brands & Channels Licensing and Distribution › Flagship Pioneer® seed brand with unique agency route-to-market Global Brand › Focused regional seed brands › Strategically positioned One-Stop retail
Slide 14: Creating Demand through Innovation and Cross-Selling
Creating Demand through Innovation and Cross- U.S. & Canada Selling › Dedicated sales team and agronomists support retail partners and build BEST-IN-CLASS customer intimacy SEED › Segmented customer demand creation to drive value Capture Full › Complementary offer is expanding AGRONOMIC Acre Through
Slide 15: Meeting Farmer Needs Today: Full Corteva Agriscience Acre
Meeting Farmer Needs Today for the U.S. & Canada Full Corteva Agriscience™ Acre IN THE SEED ON THE SEED ON THE FARM Crop Digital / Breeding Biotech Seed Applied Technology Protection Agronomy Agriculture Division of DowDuPont 15
Slide 16: Key Product Launches Expected To Drive Growth
Key Product Launches Expected To Drive Growth U.S. & Canada 2016 › Outstanding weed control in cotton New Product Launches Key to Driving Growth 2016 › Exceptional control of tough weeds % of North America sales expected from products 20171 › Triple stack of defensive traits, dual modes launched in
Slide 17: Regional Profile: Latin America
Regional Profile: Latin America Latin America $2.8B Net Sales ~3,000 20 Colleagues Production & Mfg. Facilities 43% 55+ 20 57% Active Ingredients R&D Facilities 10+ Primary Seed Crops: Countries Corn, soybean, sorghum Crop Protection Seed › Strong corn germplasm, new trait technologies and broad mar
Slide 18: Positioned to Grow and Lead in Core Markets
Positioned to Grow and Lead in Core Markets Latin America Corteva Agriscience™ Sales for Seed Seed Market Rank1 Canola, Sunflower & Cotton Brazil Corn #1 Latin America Mexico Corn #2 Wheat, Alfalfa, Innoculants, Addressable Sorghum & Rice Argentina Corn #2 Market Soybean Corn Corteva Agriscience™ Sa
Slide 19: Latin America: Rapid Technology Ramp-Up
Latin America: Rapid Technology Ramp-Up Latin America › Broad-spectrum control of above-ground pests 2017 with multiple modes of action › Best combination for Asian Soybean Rust 2017 Protection › Differentiated solutions for pasture & land Aminopyralid HL & XT 2017-2018 management 2018 › Controls wi
Slide 20: Regional Profile: Europe, Middle East, Africa
Regional Profile: Europe, Middle East, Africa EMEA $2.6B Net Sales ~4,000 20 Colleagues Production & Mfg. Facilities 49% 51% 50+ 20 Active Ingredients R&D Facilities 60+ Primary Seed Crops: Countries Europe: Corn, sunflower, winter oilseed rape Crop Protection Seed Africa: Corn › Drive growth to ach
Slide 21: Europe: Germplasm Advancements Create Opportunity Across Business
Europe: Germplasm Advancements Create EMEA Opportunity Across Business Europe Seed – Corteva Agriscience™ Sales Seed Market1 Wheat, Alfalfa, Innoculants, Corn #1 EMEA Sorghum & Rice Sunflower #2 Addressable Soybean Market Winter Oilseed Rape, Sunflower & Cotton Corn Europe Crop Protection – Corteva
Slide 22: Ukraine: Growth through Tailored Solutions and Route-to-Market Advantage
Ukraine: Growth through Tailored Solutions EMEA and Route-to-Market Advantage Serving Farmers – Small Holders to the World’s Largest Agroholding Companies Key Account CUSTOMER Management › Finance › Finance › Technology/Market › Procurement › IT/Production › Technology › Sales Effectiveness › Commer
Slide 23: Africa, Middle East: Comprehensive Seed and Developing Crop Protection Businesses
Africa, Middle East: Comprehensive Seed and EMEA Developing Crop Protection Businesses Africa, Middle East Seed – Corteva Agriscience™ Sales Seed Market1 Wheat, Alfalfa, Sorghum & Corn #1 EMEA Rice Soybean #12 Addressable Soybean Market Sunflower #1 Other Canola, Cotton & Cotton Corn Africa, Middle
Slide 24: Best-in-Class Product Launch Process and Leading Portfolio Will Accelerate Growth
Best-in-Class Product Launch Process and Leading EMEA Portfolio Will Accelerate Growth › Disease control provides an unmatched 2017 combination of consistency and control › Powerful control over a wide spectrum of 2017-2018 broadleaf weeds 2018 › Controls wide range of problem weeds 2018 › Next-gene
Slide 25: Regional Profile: Asia Pacific
Regional Profile: Asia Pacific Asia Pacific $1.2B Net Sales ~2,000 10 Colleagues Production & Mfg. Facilities 29% 50+ 40 Active Ingredients R&D Facilities 71% 7+ Primary Seed Crops: Countries Corn, rice Crop Protection Seed › Continue corn seed share growth; drive adoption of hybrid rice technology
Slide 26: Market Leadership in Rice, with Unsurpassed Package of Solutions
Market Leadership in Rice, with Unsurpassed Asia Pacific Package of Solutions Asia Pacific Corteva Agriscience™ Seed Sales Seed Market1 Canola, Sunflower & Corn #1 Asia Pacific Cotton Hybrid Rice #33 Addressable Wheat, Alfalfa, Market Innoculants, Sorghum & Rice Corn Asia Pacific Corteva Agriscience
Slide 27: India: Pravakta Program Enables Access to Millions of Farmers
India: Pravakta Program Enables Access to Millions Asia Pacific of Farmers in Interior Villages Education Drives Demand with Limited Infrastructure Pravakta Model + Mobile Program Farmer Benefits Crop Management 225 Corteva territory leaders Education 1,500 Market development reps Access to New Tech
Slide 28: Best-in-Class Product Launch Process and Leading Portfolio Will Accelerate Growth
Best-in-Class Product Launch Process and Leading Asia Pacific Portfolio Will Accelerate Growth 2018 › Excellent control of rice plant hoppers 2018 › Excellent control of rice plant hoppers › Require less labor and tend to mature faster than Direct-seeded rice 2019 (India, ASEAN) transplanted crops 2
Slide 29: Five Priorities for Shareholder Value Creation
Five Priorities for Shareholder Value Creation Broad portfolio with leading positions in key Seed and Crop 01 02 03 Protection markets Instill a strong Disciplined Develop culture capital innovative Comprehensive routes-to-market allocation solutions approach built on strong relationships with growe
Slide 30: Tim Glenn
› Tim Glenn serves as a member of the Executive Leadership Team and is Executive Vice President, Chief Commercial Officer of Corteva Agriscience™, Agriculture Division of DowDuPont. › Based in Johnston, Iowa, Glenn leads the global commercial organization, which has six commercial regions – Asia Pac
Slide 31: Safe Harbor and Non-GAAP Statements
Safe Harbor and Non-GAAP 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 1934, as amend
Slide 32: Safe Harbor and Non-GAAP Statements (cont’d)
Safe Harbor and Non-GAAP Statements (cont’d) These risks are and will be more fully discussed in the current, quarterly and annual reports and preliminary registration statement on Form 10 filed with the U. S. Securities and Exchange Commission by DowDuPont or the Company, as applicable. While the l
Slide 33: Safe Harbor and Non-GAAP Statements (cont’d)
Safe Harbor and Non-GAAP Statements (cont’d) Regulation G This presentation includes information that does not conform to U.S. GAAP and are considered non-GAAP measures. These measures includes Corteva pro forma operating EBITDA. DowDuPont and Corteva's management believes that these non-GAAP measur
Slide 34: Important Notices
Important Notices Spinetoram Aminopyralid HL & XT DO NOT APPLY DICAMBA HERBICIDE IN-CROP TO SOYBEANS WITH Roundup Ready 2 Xtend® technology unless you use a dicamba herbicide Herculex® Insect Protection technology by Dow AgroSciences and Pioneer Hi-Bred. Herculex® and the HX logo are registered trad