Slide 1: 3Q 2025 Earnings Conference Call
3Q 2025 Earnings Conference Call November 5, 2025 CTVA 3Q25 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: Safe Harbor: 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: On Track to Separate into Two Market-Leading Public Companies
On Track to Separate into Two Market-Leading Public Companies New Corteva SpinCo Driven by technology and innovation, delivering An unrivaled innovator in advanced genetics differentiated solutions in crop protection and with a century-long track record poised to plant health, backed by operational
Slide 5: CEO Messages Strong YTD Financial Performance
CEO Messages Strong Growth platforms and operational excellence accelerating margin improvement YTD Financial Seed results reflect growing demand for newest hybrids and varieties Performance Crop Protection new products and biologicals delivering double-digit volume growth Overall Record con
Slide 6: Preliminary View on 2026 $4.1B Full-Year Operating EBITDA
Preliminary View on 2026 Market Backdrop Corteva Expectations Strong global consumption of grains and oilseeds Seed gains driven by new hybrids and varieties On-farm product demand continues to grow CP New Product / Biologicals volume gains LSD organic growth in Crop Protection industry
Slide 7: 2025 YTD Financial Performance
2025 YTD Financial Performance Metric 3Q 2025(1) YTD 2025(1) Highlights $2.6B $13.5B Seed volume gains led by NA(3) and LA on strength of portfolio Net Sales +13% +4% Crop Protection volume from new products, biologicals $2.6B $13.7B Seed price/mix gains on strong NA corn demand Organic Sales (2) Cr
Slide 8: 2025 YTD Operating EBITDA
2025 YTD Operating EBITDA(1) 2025 YTD Bridge Key Drivers ($ in millions) Seed price/mix gains across the portfolio to capture value for technology, offset by Crop Protection competitive price pressures $296 ($169) ($24) $3,402 $329 Favorable weather and strong portfolio enable North America(2) $
Slide 9: Raising FY 2025 Guidance
Raising FY 2025 Guidance(1) Key Metrics Operating Operating Free Cash Flow / EBITDA Margin(2) Operating EPS(2) EBITDA Revised EBITDA(2) Conversion(2) Guidance $3.80 – $3.90B ~165 bps $3.25 – $3.35 +14% at mid-point Improvement +28% at mid-point ~50% Prior $3.75 – $3.85B ~150 bps $3.00 – $3.20 ~50% G
Slide 10: Key Takeaways
Key Takeaways Strong YTD 2025 Performance, Organic Growth in Crop Protection and Seed Raising FY 2025 Sales, Earnings, and EPS Guidance On-track to return ~$1.5B to Shareholders for FY 2025 Preliminary 2026 View reflects Sales, Operating EBITDA, and Margin Growth Demand for Differentiated Technology
Slide 11: Appendix
Appendix
Slide 12: 3Q 2025 Highlights
3Q 2025 Highlights ($ in millions, except EPS) 3Q 2024 3Q 2025 Change Net Sales $2,326 $2,618 13% GAAP Income (Loss) from Continuing Operations After Income Taxes ($519) ($308) 41% Operating EBITDA(1) ($100) $49 149% Operating EBITDA Margin(1) (4.3)% 1.9% +617 bps GAAP EPS from Continuing Operations
Slide 13: 3Q 2025 Seed Performance Highlights
3Q 2025 Seed Performance Highlights ($ in millions) 3Q 2025 vPY 3Q 2025 Revenue by Product Line Net Sales $917 +33% Organic(1) Sales Growth +31% Other oilseeds(2) Other(3) Operating EBITDA ($193) +40% 4% reported growth 4% organic(1) growth Operating EBITDA Margin (21.0%) n/m(3) Seed Operating EBITD
Slide 14: 3Q 2025 Regional Net Sales Highlights – Seed
3Q 2025 Regional Net Sales Highlights – Seed North Latin Global Net Sales Reported Organic(1) Reported Organic(1) America(2) 3% 4% America 79% 76% $917M 3Q 2024 3Q 2025 3Q 2024 3Q 2025 Net Sales ($M) $170 $175 Net Sales ($M) $218 $391 $691M Volume Price/Mix Currency Portfolio Volume Price/Mix Curren
Slide 15: 2025 YTD Seed Performance Highlights
2025 YTD Seed Performance Highlights ($ in millions) 2025 YTD vPY 2025 YTD Revenue by Product Line Net Sales $8,161 +5% Organic(1) Sales Growth +7% Other oilseeds(2) Other(3) Operating EBITDA $2,512 +18% (3)% reported growth 1% organic(1) growth Operating EBITDA Margin 30.8% +343 bps Seed Operating
Slide 16: 2025 YTD Regional Net Sales Highlights – Seed
2025 YTD Regional Net Sales Highlights – Seed North Latin Global Net Sales Reported Organic(1) Reported Organic(1) America(2) 6% 6% America 5% 11% $8.16B 2024 YTD 2025 YTD 2024 YTD 2025 YTD $7.77B Net Sales ($M) $5,394 $5,726 Net Sales ($M) $696 $730 Volume Price/Mix Currency Portfolio Volume Price/
Slide 17: 3Q 2025 Crop Protection Performance Highlights
3Q 2025 Crop Protection Performance Highlights ($ in millions) 3Q 2025 vPY 3Q 2025 Revenue by Product Line Net Sales $1,701 +4% Organic(1) Sales Growth +3% Biologicals Other(2) Operating EBITDA $279 +13% 9% reported growth 8% organic(1) growth Operating EBITDA Margin 16.4% + 136 bps Crop Protection
Slide 18: 3Q 2025 Regional Net Sales Highlights – Crop Protection
3Q 2025 Regional Net Sales Highlights – Crop Protection North Latin Global Net Sales Reported Organic(1) Reported Organic(1) America(2) 21% 21% America Flat 2% 3Q 2024 3Q 2025 3Q 2024 3Q 2025 Net Sales ($M) $440 $532 Net Sales ($M) $771 $770 $1.70B Volume Price/Mix Currency Portfolio Volume Price/Mi
Slide 19: 2025 YTD Crop Protection Performance Highlights
2025 YTD Crop Protection Performance Highlights ($ in millions) 2025 YTD vPY 2025 YTD Revenue by Product Line Net Sales $5,330 +3% Organic(1) Sales Growth +5% Other(2) Operating EBITDA $990 +22% Biologicals 7% reported growth Operating EBITDA Margin 18.6% +285 bps 10% organic(1) growth Crop Protecti
Slide 20: 2025 YTD Regional Net Sales Highlights – Crop Protection
2025 YTD Regional Net Sales Highlights – Crop Protection North Latin Global Net Sales Reported Organic(1) Reported Organic(1) America(2) 7% 8% America 6% 10% 2024 YTD 2025 YTD 2024 YTD 2025 YTD Net Sales ($M) $1,703 $1,820 Net Sales ($M) $1,458 $1,545 $5.33B Volume Price/Mix Currency Portfolio Volum
Slide 21: 3Q 2025 Operating EPS Variance
3Q 2025 Operating EPS(1) Variance Operating EPS(1) ($) ($0.49) ($0.23) $0.03 $0.07 $0.03 ($0.03) $0.16 1 2 3 5 6 3Q 2024 Volume/ Costs Currency EGL Portfolio / 3Q 2025 Price Other Volume/Price 1 Costs 2 Currency 3 Mid-single digit Seed price/mix and volume gains in Realization of Seed and Crop P
Slide 22: FY 2025 Operating EBITDA
FY 2025 Operating EBITDA(1) FY 2025 Bridge Key Drivers LSD price/mix gains in Seed to capture value for technology, ($ in millions) partially offset by additional Crop Protection market price pressure $3,800 - Volume gains driven by Crop Protection new products and $3,900 biologicals and additio
Slide 23: FY 2025 Modeling Guidance
FY 2025 Modeling Guidance – Operating Earnings Per Share(1) ($ in millions, except where noted) Guidance Depreciation and Post-Merge Amortization (625 – 635) Net Interest (Expense) Income (75 – 85) Base Income Tax Rate(1) 22% – 24% Exchange Losses – net, after tax (180 – 200) Net Income – Non-contro
Slide 24: Separation Spotlight: Crop Protection Innovation and Market Conditions
Separation Spotlight: Crop Protection Innovation and Market Conditions
Slide 25: CP New Products Delivering Differentiated Solutions
CP New Products Delivering Differentiated Solutions Across High-Value Market Opportunities Around the World Peak NTR*2 Fruit & Region ($M) Corn Soybeans Cereals Vegetables Rice Others • New Products expected to cross $2B in Arylex active NA, LA, $$ annual sales in 2027, delivering ~$600M in EMEA, A
Slide 26: Market-Leading $9 Billion Crop Protection Pipeline
Market-Leading $9 Billion Crop Protection Pipeline Herbicides / Weed Control Biologicals • #1 globally in non-glyphosate herbicides (#1 in US and Brazil) • Expecting $1B of biologicals revenue by end of • ~$1.5B of 2027E sales for Enlist , Arylex , and Rinskor decade • Expanding technology applicati
Slide 27: 2026 Crop Protection Market Assumptions
2026 Crop Protection Market Assumptions 2026 Crop Protection Total Market Outlook ($B) 2025E Crop Protection Sales by Indication $92.7 Selective Herbicides 2 to 4% Insecticides 2025E Fungicides 7 to 11% Sales 3 to 5% Seed Treatment / -2 to 0% 0 to 2% Other Biologicals 2 to 4% $90.1 Non-Selective Her
Slide 28: Stay tuned next quarter, when we will feature…
Stay tuned next quarter, when we will feature… Separation Spotlight: Advanced Genetics Innovation
Slide 29: Preview: $1 Billion+ Market Opportunity in North America Corn
Preview: $1 Billion+1 Market Opportunity in North America Corn Multi-Disease Resistance (MDR) Corn Trait Performance Under Heavy Southern Corn Rust (SCR) • Gene editing-enabled product with resistance to three key corn diseases for initial launch2 • Broad spectrum “in the seed” control helps growers
Slide 30: 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 31: Thank you
Thank you
Slide 32: Non-GAAP Calculation of Corteva Operating EBITDA
Corteva, Inc. Non-GAAP Calculation of Corteva Operating EBITDA Three Months Ended September 30, Nine Months Ended September 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
Slide 33: Segment Information: Net sales by segment
Corteva, Inc. Segment Information Net sales by segment Three Months Ended Nine Months Ended September 30, September 30, In millions 2025 2024 2025 2024 Seed $ 917 $ 691 $ 8,161 $ 7,773 Crop Protection 1,701 1,635 5,330 5,157 Total net sales $ 2,618 $ 2,326 $ 13,491 $ 12,930 Net Margin (GAAP) Three M
Slide 34: Segment Information: Corteva significant items
Corteva, Inc. Segment Information Corteva significant items (Pre-tax) Three Months Ended Nine Months Ended September 30, September 30, In millions 2025 2024 2025 2024 Seed Restructuring and asset related charges - net $ — $ (3) $ (4) $ (56) Inventory write-offs — — — 2 Gain (loss) on sale of assets
Slide 35: Price, Volume, Currency Analysis: Region
Corteva, Inc. Segment Information - Price, Volume, Currency Analysis Region Q3 2025 vs. Q3 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 $ 97 16 % $ 99 16 % 6% 10 % —
Slide 36: Price, Volume, Currency Analysis: Seed Product Line
Corteva, Inc. Segment Information - Price, Volume, Currency Analysis Seed Product Line Q3 2025 vs. Q3 2024 Percent Change Due To: Net Sales Change (GAAP) Organic Change (Non-GAAP) 1 Price & Portfolio / $ (millions) % $ (millions) % Product Mix Volume Currency Other Corn $ 271 86 % $ 263 83 % 7% 76 %
Slide 37: Price, Volume, Currency Analysis: Region
Corteva, Inc. Segment Information - Price, Volume, Currency Analysis Region Nine Months 2025 vs. Nine Months 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 $ 449 6%$ 4
Slide 38: Price, Volume, Currency Analysis: Seed Product Line
Corteva, Inc. Segment Information - Price, Volume, Currency Analysis Seed Product Line Nine Months 2025 vs. Nine Months 2024 Percent Change Due To: Net Sales Change (GAAP) Organic Change (Non-GAAP) 1 Price & Portfolio / $ (millions) % $ (millions) % Product Mix Volume Currency Other Corn $ 531 10 %
Slide 39: Non-GAAP Calculation of Corteva Operating EPS
Corteva, Inc. Non-GAAP Calculation of Corteva Operating EPS Three Months Ended September 30, 2025 2024 2025 2024 $ (millions) $ (millions) EPS (diluted) EPS (diluted) Income (loss) from continuing operations attributable to Corteva common stockholders (GAAP) $ (310) $ (522) $ (0.46) $ (0.76) Less: N
Slide 40: Non-GAAP Calculation of Corteva Base Income Tax Rate
Corteva, Inc. Non-GAAP Calculation of Corteva Base Income Tax Rate Three Months Ended Nine Months Ended September 30, September 30, $ In millions 2025 2024 2025 2024 Income (loss) from continuing operations before income taxes (GAAP) $ (370) $ (633) $ 2,218 $ 1,187 Add: Significant items (benefit) c
Slide 41: 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