What changed in this filing

/stocks — the workspaceLOADING

Item 9A. Controls and Procedures

2026-02-12 compared with 2025-02-14 · 610 added, 677 removed, 2645 unchanged (33% of the section changed)

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As of December 31, 2025, EIDP's CEO and CFO, together with management, conducted an evaluation of the effectiveness of EIDP's disclosure controls and procedures pursuant to Rules 13a-15(e) and 15d-15(e) of the Exchange Act.

Based on that evaluation, the CEO and CFO concluded that these disclosure controls and procedures were not effective at the reasonable assurance level, due to the material weakness described in Management’s Report on Internal Control over Financial Reporting appearing on page F-70.

Based on that evaluation, the CEO and CFO concluded that these disclosure controls and procedures are effective at the reasonable assurance level.

b) Changes in Internal Control over Financial Reporting

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Magro has served on the board of directors of Ingredion Inc., a global provider of ingredient solutions to the food and beverage manufacturing industry, since May 2022.

He was also recently named Chair of the Board of Directors for CropLife International, effective January 1, 2026.

Magro previously served on the Canada Pension Plan Investment Board from 2018 until March 2022.

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Prior to joining Corteva, Mr.

Johnson served as Atkore Inc.’s Chief Financial Officer and Chief Accounting Officer of Atkore Inc.

Johnson served as Chief Financial Officer and Chief Accounting Officer of Atkore Inc.

from August 2018 through August 9, 2024, and has more than 30 years of experience in strategic and financial planning, risk assessment, mergers & acquisitions, global tax strategies, international operations and internal controls.

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Judd O’Connor, age 55, was named Executive Vice President, Seed Business Unit of Corteva, effective December 2024.

O’Connor has over 25 years of experience in agriculture and has served as the Company’s President for the North America commercial business since July 2022.

O’Connor has over 30 years of experience in agriculture and served as the Company’s President for the North America commercial business since July 2022.

Prior to that, Mr.

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O’Connor was the North America Commercial Leader for DuPont Pioneer, where he was responsible for integration activities supporting the merger of DuPont and The Dow Chemical Company.

O’Connor held various leadership positions in the Company’s seed business including Vice President of Integrated Operations & Commercial Effectiveness for DuPont Pioneer, Business Director and Vice President for the Pioneer® brand sales organization, and Business President for DuPont Latin America.

He previously served as Regional President for DuPont Latin America and was based in Sao Paulo, Brazil.

Prior to joining Corteva, Mr.

O’Connor began his career in the crop protection sector with American Cyanamid where he held a number of sales, marketing

and leadership positions.

He serves on the board of directors for CropLife America and America’s Cultivation Corridor, where he is past Chair of the Board.

He has previously served on the board of directors for the Greater Des Moines Partnership.

O’Connor began his career in the crop protection sector with American Cyanamid where he held a number of sales, marketing and leadership positions.

Robert King , age 55, was named Executive Vice President, Crop Protection Business Unit of Corteva effective April 2022.

King is a highly experienced executive in the specialty chemicals and agriculture industry.

King is a highly experienced specialty chemicals and agriculture industry executive with experience leading teams in the U.S., Canada, China, and the U.K.

and a long track record of leading transformational improvements growing shareholder value through operational excellence.

Prior to joining Corteva, Mr.

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King started his career at Celanese Corp., where he worked for nearly two decades and held management roles around the world.

King currently serves on the American Chemistry Council Board of Directors and is on the Texas Tech College of Engineering Dean’s Council.

King currently serves on the Board of Directors of the American Chemistry Council, on the Executive Committee of AgriNovus Indiana, and represents Corteva on the Indianapolis Chamber of Commerce.

King serves on the Dean’s Council for Texas Tech University's College of Engineering.

Samuel Eathington , age 57, was named Executive Vice President, Chief Technology and Digital Officer of Corteva effective April 2022, where he is responsible for leading the company’s global research and development organization, building and expanding its industry-leading pipeline, and overseeing all aspects of Corteva’s digital farming strategy and investments.

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Eathington spent 19 years with Monsanto Corporation, in various roles and becoming Vice President, Global Plant Breeding beginning in February 2011.

Fuerer , age 58, was named Senior Vice President, General Counsel and Secretary of Corteva effective May 2019, where he is responsible for legal, compliance, and public affairs.

Fuerer previously served as General Counsel of the agriculture division of DowDuPont Inc.

since June 2018 and prior to that served as Associate General Counsel supporting the agriculture division of DowDuPont after their merger in September 2017.

From 2013 to 2017, he served as Associate General Counsel of DuPont with responsibility for the legal affairs of DuPont’s agriculture business and from 2012 to 2013 he served as the Corporate Secretary of DuPont.

From 2007 to 2012, Mr.

Fuerer served as the Vice President, General Counsel and Company Secretary of Solae, a food ingredients joint venture between DuPont and Bunge.

After joining DuPont in 1995 as an attorney in Geneva, Switzerland, he served in various legal roles in Hong Kong and Wuppertal, Germany until his appointment at Solae in 2007.

Audrey Grimm , age 44, was named Senior Vice President and Chief People Officer of Corteva effective January 2025.

Grimm previously served as Senior Vice President and Chief Human Resources and Diversity Officer of Corteva since March 2022.

Johnson , age 51, was named Senior Vice President, Chief Legal Officer, effective September 15, 2025 and Corporate Secretary as of January 1, 2026.

As of December 8, 2025, she provides oversight of the Company’s public affairs function.

Prior to joining Corteva, Dr.

Johnson served as the Executive Vice President, General Counsel and Corporate Secretary of International Flavors & Fragrances Inc.

(“IFF”) from February 2021 to July 2025.

Prior to joining IFF, Dr.

Johnson held various roles at DuPont where she was associate general counsel for the nutrition and biosciences business from 2019 to February 2021.

During her career at DuPont, she held various legal leadership roles supporting its commercial and intellectual property teams, including with the company’s seed business.

Prior to joining DuPont in 2013, Dr.

Johnson was a partner at the global intellectual property law firm, Finnegan, Henderson, Farabow, Garrett & Dunner, L.L.P.

Johnson earned a Ph.D.

in plant biology and a bachelor of science degree in genetics and plant biology from the University of California, Berkeley, and a juris doctorate from the University of Washington.

Audrey Grimm , age 45, was named Senior Vice President and Chief People Officer of Corteva effective March 2022.

Beginning in 2021, she served as Vice President, Europe, Middle East and Africa (EMEA) HR, with added responsibility for the company’s global culture and Inclusion and Belonging efforts, and before that as HR Director for the EMEA region from 2017 to 2021.

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Prior to this, he was general auditor of DuPont since August 2015 and previously served as the Director of Corporate Accounting from 2014 to 2015 and Global Finance Leader of DuPont Crop Protection from 2013 to 2014.

Prior to joining DuPont’s corporate accounting group in 2010, he spent 14 years in public accounting, primarily with PricewaterhouseCoopers LLP, providing audit and transactional support services.

joining DuPont’s corporate accounting group in 2010, he spent 14 years in public accounting, primarily with PricewaterhouseCoopers LLP, providing audit and transactional support services.

Titus is a certified public accountant.

EXECUTIVE COMPENSATION

Except as otherwise set forth below, information with respect to this item is incorporated herein by reference to the Definitive Proxy Statement, including information within " Compensation Discussion and Analysis ," "Compensation of Executive Officers, "Director Compensation," "Compensation Committee Interlocks and Insider Participation" and "Compensation Committee Report."

As discussed in the EIDP Explanatory Note at page F-68 and EIDP Note 1 – Basis of Presentation, of the EIDP Consolidated Financial Statements, EIDP’s Consolidated Statements of Cash Flows were required to be restated for the misclassification of

intercompany activities between EIDP and Corteva, Inc.

Corteva, as EIDP’s parent company, has confirmed the misclassification was isolated to EIDP’s standalone financial statements, and did not impact the consolidated financial statements of Corteva, as intercompany transactions are eliminated upon consolidation;

nor did the misclassification have any impact on Corteva’s internal control over financial reporting.

Therefore, it had no impact on any financial reporting measures utilized by Corteva within its incentive-based compensation programs.

EIDP does not maintain standalone incentive-based compensation programs based upon EIDP financial reporting measures, nor does EIDP grant equity-based awards to its executives.

Therefore, there was no erroneously awarded compensation subject to recovery as a result of EIDP's restatement.

I nformation relating to executive compensation and the company's equity compensation plans is incorporated herein by reference to the definitive Proxy Statement for the 2026 Annual Meeting of Stockholders of Corteva, Inc., including information within " Compensation Discussion and Analysis ," "Compensation of Executive Officers, "Director Compensation," "Compensation Committee Interlocks and Insider Participation" and "Compensation Committee Report."

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

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Financial Statements, Financial Statement Schedules and Exhibits:

Corteva Financial Statements (See the Index to the Consolidated Financial Statements on page F-1 of this report).

Corteva Financial Statement Schedule (presented below)

EIDP Financial Statements (Starting on page F-74 of this report).

EIDP Financial Statement Schedule (presented below)

Corteva, Inc.

Financial Statements (See the Index to the Consolidated Financial Statements on page F-1 of this report).

Corteva, Inc.

Financial Statement Schedule (presented below)

Financial Statements (Starting on page F-73 of this report).

Financial Statement Schedule (presented below)

Schedule II—Valuation and Qualifying Accounts (Corteva, Inc.

(Dollars in millions)

and EIDP, Inc.)

For the Year Ended December 31,

2024 2023 2022

(In Millions) 2025 2024 2023

Accounts Receivable—Allowance for Doubtful Receivables

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Balance at beginning of period $ 666 $ 510 $ 342

Additions charged to expenses 301 225 87

Additions to reserves 2

Purchase accounting adjustments — — 8

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Deductions include write-offs, recoveries collected and currency translation adjustments.

Additions include currency translation adjustments.

Deductions include amounts recorded to other comprehensive income and currency translation adjustments.

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Number Description

Separation and Distribution Agreement by and among DuPont Inc., Dow Inc.

Separation and Distribution Agreement by and among DowDuPont Inc., Dow Inc.

and Corteva, Inc.

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(incorporated by reference to Exhibit No.

3.1 to Corteva’s Current Report on Form 8-K (Commission file number 001-38710), filed on June 3, 2019).

3.1 to Corteva’s Current Report on Form 8-K (Commission file number 001-38710), filed on May 2, 2024).

Amended and Restated Bylaws of Corteva, Inc.

(incorporated by reference to Exhibit No.

3.1 to Corteva’s Current Report on Form 8-K (Commission file number 001-38710), filed on October 10, 2019).

3.1 to Corteva’s Current Report on Form 8-K (Commission file number 001-38710), filed on December 21, 2022).

Amended and Restated Certificate of Incorporation of EIDP, Inc.

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(incorporated by reference from the Form 8-K (Commission file number 001-38710) filed January 22, 2021)

Form of Award Terms for Options granted under the Corteva, Inc.

Judicial Consent Order between The State of New Jersey and The Chemours Company, DuPont de Nemours, Inc., together with Corteva, Inc.

and EIDP, Inc.

Letter Agreement, effective November 1, 2025, between DuPont de Nemours, Inc., Corteva, Inc., and Qnity Electronics, Inc.

Form of Award Terms for Restricted Stock Units granted under the Corteva, Inc.

2019 Omnibus Incentive Plan for U.S.

grantees (incorporated by reference from Exhibit 10.2 to the Company’s Quarterly Report Form 10-Q (Commission file number 001-38710) filed May 7, 2020).

Form of Award Terms for Performance Stock Units granted under the Corteva, Inc.

Form of Award Terms of Options granted under the Corteva, Inc.

2019 Omnibus Incentive Plan for .U.S.

grantees (incorporated by reference from Exhibit 10.3 to the Company’s Quarterly Report Form 10-Q (Commission file number 001-38710) filed May 5, 2022).

Form of Award Terms for Restricted Stock Units granted under the Corteva, Inc.

Form of Performance Stock Units granted under the Corteva, Inc.

2019 Omnibus Incentive Plan for U.S.

grantees (incorporated by reference from Exhibit 10.1 to the Company’s Quarterly Report Form 10-Q (Commission file number 001-38710) filed May 5, 2022).

Form of Special CFO RSU Agreement (incorporated by reference from Exhibit 10.1 to Corteva’s Current Report on Form 8-K (Commission file number 001-38710) filed April 6, 2021).

Corteva, Inc.

Global Omnibus Employee Stock Purchase Plan (incorporated by reference from Exhibit 4.3 to Corteva’s Registration Statement on Form S-8 (Commission file number 333-249887), filed November 5, 2020).

Amendment to EIDP, Inc.’s Retirement Savings Restoration Plan.

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10.2 to Corteva’s and EIDP’s Quarterly Report on Form 10-Q (Commission file numbers 001-38710 and 001-00815, respectively), filed on August 4, 2023).

10.25 Corteva, Inc.

Global Omnibus Employee Stock Purchase Plan (incorporated by reference from Exhibit 4.3 to Corteva’s Registration Statement on Form S-8 (Commission file number 333-249887), filed November 5, 2020).

Corteva Insider Trading Policy

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Grimes Director February 12, 2026

/s/ Rebecca B.

Liebert Director February 14, 2025

/s/ Marcos M.

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We have audited the accompanying consolidated balance sheets of Corteva, Inc.

and its subsidiaries (the “Company”) as of December 31, 2024 and 2023, and the related consolidated statements of operations, comprehensive income (loss), equity and cash flows for each of the three years in the period ended December 31, 2024, including the related notes and schedule of valuation and qualifying accounts for each of the three years in the period ended December 31, 2024 appearing under Item 15 (collectively referred to as the “consolidated financial statements”).

and its subsidiaries (the "Company") as of December 31, 2025 and 2024, and the related consolidated statements of operations, of comprehensive income (loss), of equity and of cash flows for each of the three years in the period ended December 31, 2025, including the related notes and schedule of valuation and qualifying accounts for each of the three years in the period ended December 31, 2025 appearing under Item 15 (collectively referred to as the "consolidated financial statements").

We also have audited the Company's internal control over financial reporting as of December 31, 2025, based on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).

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A company’s internal control over financial reporting includes those policies and procedures that (i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company;

(ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company;

and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

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Restructuring and asset related charges - net 146 288 336

Separation costs 35 — —

Other income (expense) - net ( 570 ) ( 300 ) ( 448 )

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Acquisitions of businesses - net of cash acquired — — ( 1,456 )

Escrow funding associated with acquisitions — — ( 36 )

Investments in and loans to nonconsolidated affiliates ( 20 ) ( 7 ) ( 32 )

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Proceeds from sales and maturities of investments 135 130 147

Proceeds from settlement of net investment hedge 63 42 —

Proceeds from (payments for) settlement of net investment hedge ( 83 ) 63 42

Other investing activities, net ( 38 ) ( 39 ) ( 2 )

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3 Recent Accounting Guidance

4 Business Combinations

5 Restructuring and Asset Related Charges - Net

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The company's broad portfolio of agriculture solutions fuels farmer productivity around the globe.

Corteva has two reportable segments:

Corteva has two operating segments:

Seed and Crop Protection.

See Note 23 - Segment Information, to the Consolidated Financial Statements, for additional information on the company's reportable segments.

See Note 22 - Segment Information, to the Consolidated Financial Statements, for additional information on the company's operating segments.

Throughout these financial statements, except as otherwise noted by the context, the terms "Corteva" or "company" used herein mean Corteva, Inc.

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The Consolidated Financial Statements and other financial information included in this Annual Report, unless otherwise specified, have been presented to separately show the effects of discontinued operations.

During the fourth quarter of 2023, the company made the decision, which was retrospectively applied, to adjust the presentation of the Consolidated Statement of Cash Flows to separately present the cash provided by (used for) operating activities – discontinued operations, which was previously presented within cash provided by (used for) operating activities.

See Note 16 – Commitments and Contingent Liabilities, to the Consolidated Financial Statements, for additional information on discontinued operations activities.

On June 1, 2019, Corteva, Inc.

became an independent, publicly traded company through the completed separation (the “Separation”) of the agriculture business of DuPont de Nemours, Inc.

became an independent, publicly traded company through the completed separation of the agriculture business (the “Corteva Separation”) of DuPont de Nemours, Inc.

(formerly known as DowDuPont Inc.) (“DowDuPont” or “DuPont”).

The separation was effectuated through a pro rata distribution (the “Corteva Distribution”) of all of the then-issued and outstanding shares of common stock of Corteva, Inc.

Subsequent to the Merger, Historical Dow and EIDP engaged in a series of internal reorganization and realignment steps to realign their businesses into three subgroups:

The Corteva Separation was effectuated through a pro rata distribution (the “Corteva Distribution”) of all of the then-issued and outstanding shares of common stock of Corteva, Inc.

Prior to the Corteva Separation, subsequent to the Merger, Historical Dow and EIDP engaged in a series of internal reorganization and realignment steps to realign their businesses into three subgroups:

agriculture, materials science and specialty products ("Internal Reorganization").

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On May 31, 2019, DowDuPont contributed EIDP to Corteva, Inc.

and on June 1, 2019, the Separation was completed.

and on June 1, 2019, the Corteva Separation was completed.

Information related to the Corteva Distribution and its effect on the company's financial statements is discussed throughout these Notes to the Consolidated Financial Statements.

Since 2018, Argentina has been considered a hyper-inflationary economy under U.S.

Since 2018, Argentina has been considered a highly-inflationary economy under U.S.

GAAP and, therefore, the U.S.

Dollar (“USD”) is the functional currency for our related subsidiaries.

Argentina contributes approximately 3 percent to the company's annual net sales and less than 2 percent to each of the company's annual Seed and Crop Protection segment operating EBITDA.

Argentina contributes approximately 3 percent to the company's annual net sales and approximately 1 percent to each of the company's annual Seed and Crop Protection segment operating EBITDA.

The company remeasures net monetary assets and translates the financial statements utilizing the official Argentine Peso (“Peso”) to USD exchange rate.

The ability to draw down Peso cash balances is limited at this time due to government restrictions and market availability of U.S.

The devaluation of the Peso relative to the USD over the last several years has resulted in the recognition of exchange losses (refer to Note 7 – Supplementary Information, to the Consolidated Financial

The devaluation of the Peso relative to the USD over the last several years has resulted in the recognition of exchange losses (refer to Note 6 – Supplementary Information, to the Consolidated Financial Statements).

The Argentina government has offered USD-denominated bonds to importers, the proceeds from which could be used to pay off outstanding intercompany payables.

As of December 31, 2025, the company holds these foreign government bonds with an amortized cost of $ 30 million as part of its strategy to manage its net monetary asset exposure in Argentina.

Refer to the “Debt Securities” section in Note 19 - Financial Instruments, to the Consolidated Financial Statements, for additional information.

As of December 31, 2025, a further 10 percent deterioration in the official Peso to USD exchange rate

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

The Argentina government has offered USD-denominated bonds to importers, the proceeds from which could be used to pay off outstanding intercompany payables.

As of December 31, 2024, the company holds $ 103 million (at amortized cost) of these foreign government bonds as part of its strategy to manage its net monetary asset exposure in Argentina.

Refer to the “Debt Securities” section in Note 20 - Financial Instruments, for additional information.

As of December 31, 2024, a further 10 percent deterioration in the official Peso to USD exchange rate would not have a significant impact on the USD value of our net monetary assets or pre-tax earnings.

would not have a significant impact on the USD value of our net monetary assets or pre-tax earnings.

The company will continue to assess the implications to its operations and financial reporting.

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A financial instrument's level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

The company uses the following hierarchy to classify assets and liabilities measured at fair value:

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Level 3 – Unobservable inputs for the asset or liability, which are valued based on management's estimates of assumptions that market participants would use in pricing the asset or liability.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Foreign Currency Translation

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The company identifies its separate and distinct foreign entities and groups the foreign entities into two categories:

1) extension of the parent or foreign subsidiaries operating in a hyper-inflationary environment (USD functional currency) and 2) self-contained (related foreign functional currency).

(i) extension of the parent or foreign subsidiaries operating in a highly-inflationary environment (USD functional currency) and (ii) self-contained (related foreign functional currency).

If a foreign entity does not align with either category, factors are evaluated and a judgment is made to determine the functional currency.

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cost is generally determined by the average cost method.

As of December 31, 2024 and 2023, approximately 60 percent and 40 percent of the company's inventories were accounted for under the first-in, first-out ("FIFO") and average cost methods, respectively.

As of both December 31, 2025 and 2024, approximately 60 percent and 40 percent of the company's inventories were accounted for under the first-in, first-out ("FIFO") and average cost methods, respectively.

Inventories accounted for under the FIFO method are primarily comprised of products with shorter shelf lives such as seeds.

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The company aggregates certain components into reporting units based on economic similarities.

The company’s reporting units are Seed and Crop Protection.

When testing goodwill for impairment, the company has the option to first perform qualitative testing to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value.

If the company chooses not to complete a qualitative assessment for a given reporting unit or if the initial assessment indicates that it is more likely than not that the

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

carrying value of a reporting unit exceeds its estimated fair value, additional quantitative testing is required.

If the company chooses not to complete a qualitative assessment for a given reporting unit or if the initial assessment indicates that it is more likely than not that the carrying value of a reporting unit exceeds its estimated fair value, additional quantitative testing is required.

If additional quantitative testing is required, the reporting unit's fair value is compared with its carrying amount, and an impairment charge, if any, is recognized for the amount by which the carrying amount exceeds the reporting unit's fair value, limited to the amount of goodwill associated with the reporting unit.

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See Note 12 - Goodwill and Other Intangible Assets, to the Consolidated Financial Statements, for further information on goodwill.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Definite-lived intangible assets are amortized over their estimated useful lives, generally on a straight-line basis for periods ranging primarily from 2 years to 25 years.

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Once these assets are no longer considered held and used, they are removed from the Consolidated Balance Sheets.

Acquisitions are recorded using the acquisition method of accounting and recognizes and measures the identifiable assets acquired and liabilities assumed as of the acquisition date at fair value, where applicable.

Acquisitions are recorded using the acquisition method of accounting which recognizes and measures the identifiable assets acquired and liabilities assumed as of the acquisition date at fair value, where applicable.

The excess, if any, of total consideration transferred in a business combination over the fair value of identifiable assets acquired and liabilities assumed is recognized as goodwill.

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Lease terms include options to extend the lease when it is reasonably certain those options will be exercised.

Leases with an initial term of 12 months or less are not recorded on the balance sheet.

Leases with an initial term of 12 months or less are not recorded on the Consolidated Balance Sheets.

The company recognizes lease expense for these leases on a straight-line basis over the lease term.

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The company utilizes derivatives to manage exposures to foreign currency exchange rates and commodity prices.

Changes in the fair values of derivative

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

instruments that are not designated as hedges are recorded in current period earnings.

Changes in the fair values of derivative instruments that are not designated as hedges are recorded in current period earnings.

For derivative instruments designated as cash flow hedges, the gain (loss) is reported in accumulated other comprehensive income (loss) until it is cleared to earnings during the same period in which the hedged item affects earnings.

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In the event that a derivative designated as a hedge of a firm commitment or an anticipated transaction is terminated prior to the maturation of the hedged transaction, the net gain or loss in accumulated other comprehensive income (loss) generally remains in accumulated other comprehensive income (loss) until the item that was hedged affects earnings.

If a hedged transaction matures, or is sold, extinguished, or terminated prior to the maturity of a derivative designated as a hedge of such transaction, gains or losses associated with the derivative through the date the transaction matured are included in the measurement of the hedged transaction and the derivative is reclassified as for trading purposes.

If a hedged transaction

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

matures, or is sold, extinguished, or terminated prior to the maturity of a derivative designated as a hedge of such transaction, gains or losses associated with the derivative through the date the transaction matured are included in the measurement of the hedged transaction and the derivative is reclassified as for trading purposes.

Derivatives designated as hedges of anticipated transactions are reclassified as for trading purposes if the anticipated transaction is no longer probable.

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See Note 4 - Revenue, to the Consolidated Financial Statements, for additional information on revenue recognition.

Prepaid Royalties

The company currently has certain third-party biotechnology trait license agreements, which require up-front and variable payments subject to the licensor meeting certain conditions.

These payments are reflected as other current assets and other assets in the Consolidated Balance Sheets and are amortized to cost of goods sold in the Consolidated Statement of Operations as seeds containing the respective trait technology are utilized over the life of the license.

The rate of royalty amortization expense recognized is based on the company’s strategic plans which include various assumptions and estimates including product portfolio, market dynamics, farmer preferences, growth rates and projected planted acres.

Changes in factors and assumptions included in the strategic plans, including potential changes to the product portfolio in favor of internally developed biotechnology, could impact the rate of recognition of the relevant prepaid royalty.

At December 31, 2024, the balance of prepaid royalties reflected in other current assets and other assets in the Consolidated Balance Sheets was approximately $ 65 million and $ 160 million, respectively.

Through June 30, 2024, the prepaid royalties balance largely related to the non-exclusive license in the United States and Canada for the Monsanto Company's Genuity ® Roundup Ready 2 Yield ® glyphosate tolerance trait and Roundup Ready 2 Xtend ® glyphosate and dicamba tolerance trait for soybeans, which was obtained by the company’s wholly owned subsidiary, Pioneer Hi-Bred International, Inc.

(“Pioneer”) (“Roundup Ready 2 License Agreement”).

Each of these licensed technologies are now trademarks of the Bayer Group, which acquired the Monsanto Company in 2018.

The prepaid royalty asset relates to a series of up-front, fixed and variable royalty payments to utilize the traits in Pioneer’s soybean product mix.

The company’s historical expectation was that the technology

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

licensed under the Roundup Ready 2 License Agreement would be used as the primary herbicide tolerance trait platform in the Pioneer ® brand soybean through the term of the agreement.

DAS and MS Technologies, L.L.C.

jointly developed and own the Enlist E3 TM herbicide tolerance trait for soybeans which provides tolerance to 2, 4-D choline in Enlist Duo ® and Enlist One ® herbicides, as well as glyphosate and glufosinate herbicides.

In connection with the validation of breeding plans and large-scale product development timelines, during 2019 the company committed to accelerate the ramp up of the Enlist E3 TM trait platform in the company’s soybean portfolio mix across all brands, including Pioneer ® brands.

Due to the five-year ramp-up of Enlist E3 TM , the company significantly reduced the volume of products with the Roundup Ready 2 Yield ® and Roundup Ready 2 Xtend ® herbicide tolerance traits, with expected minimal use of the trait platform thereafter for the remainder of the Roundup Ready 2 License Agreement (the “Transition Plan”).

The rate of royalty expense had therefore increased significantly through higher amortization of the prepaid royalty as fewer seeds containing the respective trait were expected to be utilized.

In connection with the departure from these traits, beginning January 1, 2020 the company presents and discloses the non-cash accelerated prepaid royalty amortization expense as a component of restructuring and asset related charges - net, in the Consolidated Statement of Operations.

The accelerated prepaid royalty amortization expense represented the difference between the rate of amortization based on the revised number of units expected to contain the Roundup Ready 2 Yield ® and Roundup Ready 2 Xtend ® trait technology and the variable cash rate per the Roundup Ready 2 License Agreement.

For the year ended December 31, 2024, the company recognized charges of $ 55 million in restructuring and asset related charges - net in the Consolidated Statement of Operations from non-cash accelerated prepaid royalty amortization expense, which as of the end of the second quarter of 2024 is complete.

Cost of Goods Sold

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Severance costs are accrued when management commits to a plan of termination and it becomes probable that employees will be entitled to benefits at amounts that can be reasonably estimated.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Insurance/Self-Insurance

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The company recognizes the financial statement effects of an uncertain income tax position when it is more likely than not, based on the technical merits, that the position will be sustained upon examination.

The current portion of uncertain income tax

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

positions is included in income taxes payable or income tax receivable, and the long-term portion is included in other noncurrent obligations or other noncurrent assets in the Consolidated Balance Sheets.

The current portion of uncertain income tax positions is included in income taxes payable or accounts and notes receivable - net, and the long-term portion is included in other noncurrent obligations or other assets in the Consolidated Balance Sheets.

Income tax related penalties are included in the provision for (benefit from) income taxes in the Consolidated Statements of Operations.

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Recently Adopted Accounting Guidance

In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update ("ASU") 2023-07, Segment Reporting (Topic 280):

In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update ("ASU") 2023-09, Income Taxes (Topic 740):

Improvements to Income Tax Disclosures.

The ASU requires that an entity disclose specific categories in the effective tax rate reconciliation as well as reconciling items that meet a quantitative threshold.

Further, the ASU requires additional disclosures on income tax expense and taxes paid, net of refunds received, by jurisdiction.

The new standard is effective for annual periods beginning after December 15, 2024 on a prospective basis with the option to apply it retrospectively.

Early adoption is permitted.

The company adopted this guidance on a prospective basis and has included enhanced income tax related disclosures in Note 7 - Income Taxes, to the Consolidated Financial Statements.

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280):

Improvements to Reportable Segment Disclosures.

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See Note 22 - Segment Information, to the Consolidated Financial Statements, for the company's updated disclosure.

In August 2023, the FASB issued ASU 2023-05, Business Combinations—Joint Venture Formations (Subtopic 805-60):

Recognition and Initial Measurement.

The amendments in this ASU are intended to facilitate consistency in the application of accounting guidance upon the formation of entities qualifying as joint ventures.

It generally requires the use of business combinations accounting at the joint venture formation date, which would result in the contributed assets/liabilities being revalued to fair value and potentially result in the recognition of goodwill and other intangibles on the joint venture’s financial statements.

It does not alter the ongoing accounting for the joint venture’s operations.

This guidance is effective for joint ventures with formation dates on or after January 1, 2025.

Prospective application is required, with early adoption permitted.

Retrospective application can be elected for joint ventures formed before January 1, 2025.

Beginning in the third quarter of 2024, newly-formed joint ventures have applied this guidance.

In September 2022, the FASB issued Accounting Standards Update ASU 2022-04, Liabilities—Supplier Finance Programs (Subtopic 405-50):

Disclosure of Supplier Finance Program Obligations.

This ASU includes amendments that require a buyer in supplier finance programs to disclose key terms of the programs and related obligations, including a rollforward of such obligations.

This guidance is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years, except for the rollforward requirements, which are effective for fiscal years beginning after December 15, 2023, and early adoption is permitted.

Retrospective application to all periods in which a balance sheet is presented is required, except for the rollforward requirement, which will be applied prospectively.

The company adopted this guidance on January 1, 2023 which resulted in certain disclosures being added relating to supplier financing programs and related obligations.

See Note 16 – Commitments and Contingent Liabilities, to the Consolidated Financial Statements, for additional information.

Accounting Guidance Issued But Not Adopted as of December 31, 2025

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Selling expenses must also be separately disclosed for both interim and annual periods, along with an annual qualitative description of the composition of selling expenses.

In January 2025, the FASB subsequently issued ASU 2025-01, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40):

Clarifying the Effective Date, to provide clarification on the ASU's effective date.

The new standard is effective for fiscal years beginning after December 15, 2026 on a prospective basis with the option to apply it retrospectively, and for interim periods

In January 2025, the FASB subsequently issued ASU

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

within fiscal years beginning after December 15, 2027.

2025-01, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40):

Clarifying the Effective Date, to provide clarification on the ASU's effective date.

The new standard is effective for fiscal years beginning after December 15, 2026 on a prospective basis with the option to apply it retrospectively, and for interim periods within fiscal years beginning after December 15, 2027.

Early adoption is permitted.

The adoption of this guidance will result in the company being required to include enhanced disclosures around income statement expenses.

In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740):

Improvements to Income Tax Disclosures.

The ASU requires that an entity disclose specific categories in the effective tax rate reconciliation as well as reconciling items that meet a quantitative threshold.

Further, the ASU requires additional disclosures on income tax expense and taxes paid, net of refunds received, by jurisdiction.

The new standard is effective for annual periods beginning after December 15, 2024 on a prospective basis with the option to apply it retrospectively.

Early adoption is permitted.

The adoption of this guidance will result in the company being required to include enhanced income tax related disclosures.

NOTE 4 - BUSINESS COMBINATIONS

On March 1, 2023 ("Acquisition Date"), Corteva completed its acquisitions of all the outstanding equity interests in Stoller Group, Inc.

(“Stoller”), one of the largest independent companies in the Biologicals industry, and Quorum Vital Investment, S.L.

and its affiliates (“Symborg”), an expert in microbiological technologies.

The purchase price for Stoller and Symborg was $ 1,220 million, inclusive of a working capital adjustment, and $ 370 million, respectively.

These acquisitions supplement the Crop Protection business with additional biological tools that complement evolving farming practices.

The operating results of Stoller and Symborg, since the Acquisition Date, did not have a material impact to the company's Consolidated Financial Statements for the year ended December 31, 2023.

Additionally, supplemental pro forma information have not been presented since the reported amounts in the company's Consolidated Financial Statements for the current period and comparative prior periods would not be materially different had these acquisitions occurred as of January 1, 2022.

Purchase Price Allocation

The company finalized the purchase price allocation and assessment of the fair value of the assets acquired and liabilities assumed as of the Acquisition Date in the first quarter of 2024.

There were no material adjustments recognized during the measurement period.

The following table summarizes the purchase price allocation to the assets acquired and liabilities assumed for the Stoller and Symborg acquisitions:

(In millions) Stoller 1

Cash and cash equivalents $ 97 $ —

Accounts and notes receivable 243 17

Inventories 81 10

Other current assets 9 2

Property, plant and equipment 71 3

Goodwill 420 130

Other intangible assets 645 300

Deferred income taxes 10 —

Other assets 5 1

Total assets acquired $ 1,581 $ 463

Short-term borrowings 59 —

Accounts payable 25 13

Income taxes payable 2 —

Accrued and other current liabilities 65 4

Long-term debt 2 —

Deferred income tax liabilities 187 75

Other noncurrent obligations 21 1

Total liabilities assumed $ 361 $ 93

Net assets acquired $ 1,220 $ 370

Includes measurement period adjustments, which were not material .

The significant fair value adjustments included in the purchase price allocation are discussed below.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Acquired inventories in connection with the acquisition of Stoller and Symborg are primarily comprised of finished goods and raw materials.

The fair value of finished goods was calculated as the estimated selling price, adjusted for costs of the selling effort and a reasonable profit allowance relating to the selling effort.

The fair value of raw materials and supplies was determined based on replacement cost which approximates historical carrying value.

The fair value step-up was recognized within cost of goods sold, in the Consolidated Statements of Operations, as the inventory was sold.

Property, Plant and Equipment

Property, plant and equipment associated with Stoller is comprised of $ 31 million of machinery and equipment, $ 31 million of buildings, $ 7 million of land and land improvements, and $ 2 million of construction in progress.

The fair value was primarily determined using a market approach for land and certain types of equipment, and a replacement cost approach for the remaining depreciable property, plant and equipment.

The market approach for certain types of equipment represents a sale comparison that measures the value of an asset through an analysis of sales and offerings of comparable assets.

The replacement cost approach used for all other depreciable property, plant and equipment measures the value of an asset by estimating the cost to acquire or construct comparable assets and adjust for age and condition of the asset.

The excess of the consideration for Stoller and Symborg over the net fair value of assets acquired and liabilities assumed resulted in the recognition of goodwill, which has been assigned to the Crop Protection reporting unit.

Goodwill associated with these acquisitions is attributable to the assembled workforce and expanding the company’s addressable market position.

None of the goodwill recognized will be deductible for income tax purposes.

Other Intangible Assets

In connection with the acquisitions of Stoller and Symborg, the company recorded certain intangible assets, as shown in the table below.

Intangible Assets Stoller Symborg

(In millions) Fair Value Weighted-Average Amortization Period (Years) Fair Value Weighted-Average Amortization Period (Years)

Intangible assets with finite lives:

Customer-related $ 495 13 $ — —

Developed technology 106 13 238 12

Trademarks/trade names 44 15 57 12

Total other intangible assets with finite lives $ 645 13 $ 295 12

Intangible assets with infinite lives:

In-process research and development — — 5 —

Total other intangible assets with indefinite lives $ — — $ 5 —

Total intangible assets $ 645 $ 300

The customer-related and in-process research and development (“IPR&D”) intangible asset’s fair values were determined using the multi-period excess earnings method.

The developed technology fair values were determined utilizing the relief from royalty method for Stoller and the multi-period excess earnings method for Symborg.

The trademark/trade name fair values were determined utilizing the relief from royalty method.

NOTE 4 - REVENUE

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However, the company has some long-term contracts which can span multiple years.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Revenue from product sales is recognized when the customer obtains control of the company's product, which occurs at a point in time according to shipping terms.

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The transaction price allocated to remaining performance obligations with an original duration of more than one year related to material rights granted to customers for contract renewal options were $ 150 million and $ 139 million at December 31, 2025 and December 31, 2024, respectively.

The company expects revenue to be recognized for the remaining performance obligations evenly over the period of one year to six years .

The company expects revenue to be recognized for the remaining performance obligations evenly over a period of six years .

Contract Balances

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Accounts receivable are recorded when the right to consideration becomes unconditional.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Contract Balances December 31, 2025 December 31, 2024

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Included in other noncurrent obligations in the Consolidated Balance Sheets.

Revenue recognized during the December 31, 2024, 2023, and 2022 from amounts included in deferred revenue at the beginning of the period was $ 3,359 million, $ 3,342 million, and $ 3,150 million, respectively.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Revenue recognized during the years ended December 31, 2025, 2024 and 2023 from amounts included in deferred revenue at the beginning of the period was $ 3,247 million, $ 3,359 million and $ 3,342 million, respectively.

Disaggregation of Revenue

Corteva's operations are classified into two reportable segments:

Corteva's operations are classified into two operating segments:

Seed and Crop Protection.

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Total $ 17,401 $ 16,908 $ 17,226

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Sales are attributed to geographic regions based on customer location.

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Europe, Middle East, and Africa ("EMEA") .

Refer to Note 22 - Geographic Information for the breakout of consolidated net sales by geographic area.

Refer to Note 21 - Geographic Information, to the Consolidated Financial Statements, for the breakout of consolidated net sales by geographic area.

NOTE 5 - RESTRUCTURING AND ASSET RELATED CHARGES - NET

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In October 2024, management of the company amended the Crop Protection Operations Strategy Restructuring Program to include updates to its previous estimates and decommissioning and demolition costs associated with the ceasing of operations, primarily at the Pittsburg, California site.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

The company expects to record aggregate pre-tax restructuring and asset related charges of $ 650 million to $ 700 million, comprised of $ 85 million to $ 105 million of severance and related benefit costs, $ 320 million to $ 340 million of asset-related and impairment charges, and $ 245 million to $ 255 million of costs related to exiting the company's production activities and ceasing operations (inclusive of contract terminations and decommissioning and demolition costs).

The company expects to record aggregate pre-tax restructuring and asset related charges of $ 650 million to $ 700 million, comprised of $ 85 million to $ 105 million of severance and related benefit costs, $ 320 million to $ 340 million of asset-related and impairment charges, and $ 245 million to $ 255 million of costs related to exiting the company's production activities and ceasing operations (inclusive of decommissioning and demolition costs and contract terminations).

Decommissioning and demolition costs are expensed on an as-incurred basis.

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Through the year ended December 31, 2025, the company recorded net pre-tax restructuring and asset related charges of $ 611 million inception-to-date under the Crop Protection Operations Strategy Restructuring Program, consisting of $ 102 million of severance and related benefit costs, $ 340 million of asset-related and impairment charges, $ 70 million of decommissioning and demolition costs and $ 99 million of costs related to contract terminations.

The pre-tax restructuring and asset related charges noted above includes charges relating to spare parts write-offs recognized during the fourth quarter of 2023, which impacted the Crop Protection segment, and were included in cost of goods sold, in the company's Consolidated Statements of Operations for the year ended December 31, 2023.

The pre-tax restructuring and asset related charges noted above include charges relating to spare parts write-offs recognized during the fourth quarter of 2023, which impacted the Crop Protection segment, and were included in cost of goods sold, in the company's Consolidated Statements of Operations for the year ended December 31, 2023.

See Note 22 - Segment Information, to the Consolidated Financial Statements, for additional information.

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The restructuring actions associated with these charges are expected to be substantially complete by the end of 2026.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

The following table is a summary of charges incurred related to the Crop Protection Operations Strategy Restructuring Program for the years ended December 31, 2025, 2024 and 2023:

(In millions) For the Year Ended December 31, 2024 For the Year Ended December 31, 2023

For the Year Ended December 31,

(In millions) 2025 2024 2023

Severance and related benefit costs 1

$ 11 $ 91 $ —

Asset related charges 2,3

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Total restructuring and asset related charges - net 4

$ 150 $ 232 $ 217

Reflects corporate related charges.

Reflects charges associated with the Crop Protection segment.

Reflects charges which are substantially all associated with the Crop Protection segment.

Asset-related charges includes impairment charges related to operating lease assets and property, plant and equipment.

This amount excludes charges relating to spare parts write-offs included in cost of goods sold for the year ended December 31, 2023, in the company's Consolidated Statement of Operations.

A reconciliation of the December 31, 2023 to the December 31, 2024 liability balances related to the Crop Protection Operations Strategy Restructuring Program is summarized below:

The following table summarizes changes to liability balances related to the Crop Protection Operations Strategy Restructuring Program for the years ended December 31, 2024 and 2025, respectively:

(In millions) Severance and Related Benefit Costs Asset Related Charges 1

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Balance at December 31, 2024 $ 70 $ — $ — $ — $ 70

Charges to income from continuing operations 11 13 60 66 150

Payments ( 49 ) — ( 52 ) ( 12 ) ( 113 )

Asset write-offs — ( 13 ) — — ( 13 )

Balance at December 31, 2025 $ 32 $ — $ 8 $ 54 $ 94

Asset-related charges includes impairment charges related to operating lease assets and property, plant and equipment.

2022 Restructuring Actions

In connection with the company’s shift to a global business unit model during 2022, the company assessed its business priorities and operational structure to maximize the customer experience and deliver on growth and earnings potential.

As a result of this assessment, the company committed to restructuring actions during the second quarter of 2022, which included the company’s separate announcement to withdraw from Russia (“Russia Exit”) (collectively the “2022 Restructuring Actions”).

The actions associated with this program were substantially complete in 2023.

Other Asset Related Charges

The company holds a non-exclusive license in the United States and Canada for the Monsanto Company's Genuity ® Roundup Ready 2 Yield ® glyphosate tolerance trait and Roundup Ready 2 Xtend ® glyphosate and dicamba tolerance trait for soybeans, which was obtained by the company’s wholly owned subsidiary, Pioneer Hi-Bred International, Inc.

(“Pioneer”) (“Roundup Ready 2 License Agreement”).

Each of these licensed technologies are now trademarks of the Bayer Group, which acquired the Monsanto Company in 2018.

The prepaid royalty asset relates to a series of up-front, fixed and variable royalty payments to utilize the traits in Pioneer’s soybean product mix.

The company’s historical expectation was that the technology licensed under the Roundup Ready 2 License Agreement would be used as the primary herbicide tolerance trait platform in the Pioneer ® brand soybean through the term of the agreement.

Dow Agrosciences LLC and MS Technologies, L.L.C.

jointly developed and own the Enlist E3 TM herbicide tolerance trait for soybeans which provides tolerance to 2,4-D choline in Enlist Duo ® and Enlist One ® herbicides, as well as glyphosate and glufosinate herbicides.

The rate of royalty expense had therefore increased significantly through higher amortization of the prepaid royalty as fewer seeds containing the respective trait were expected to be utilized.

For the years ended December 31, 2025, 2024 and 2023, the company recognized $ — million, $ 55 million and $ 72 million, respectively, in restructuring and asset related charges - net in the Consolidated

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

The remaining cash payments related to these charges is $ 30 million, and primarily relate to the payment of severance and related benefits and contract terminations.

The following table is a summary of charges incurred related to the 2022 Restructuring Actions for the years ended December 31, 2024, 2023 and 2022.

For the Year Ended December 31,

(In millions) 2024 2023 2022

Severance and related benefit costs 1

$ — $ 20 $ 111

Asset related charges ( 2 ) 12 104

Contract termination charges 2

Total restructuring and asset related charges - net 3,4

$ 1 $ 42 $ 272

Reflects corporate-related charges.

Contract termination charges includes early lease terminations.

The year ended December 31, 2024 reflects net charges of $ 1 million impacting the Seed segment .

The years ended December 31, 2023 and December 31, 2022 reflect charges of $ 17 million and $ 120 million, respectively, impacting the Seed segment.

The years ended December 31, 2023 and December 31, 2022 reflect charges of $ 5 million and $ 41 million, respectively, impacting the Crop Protection segment.

This amount excludes other pre-tax charges recorded during the years ended December 31, 2024, 2023 and 2022 impacting the Seed segment.

These charges consisted of inventory write-offs and gains (losses) on sale of businesses, assets and equity investments and settlement costs associated with the Russia Exit, which are included in cost of goods sold and other income (expense) - net, in the company's Consolidated Statement of Operations, respectively.

See Note 23 - Segment Information, to the Consolidated Financial Statements, for additional information.

Other Asset Related Charges

For the years ended December 31, 2024, 2023, and 2022 the company recognized $ 55 million, $ 72 million, and $ 109 million respectively, in restructuring and asset related charges - net in the Consolidated Statements of Operations, from non-cash accelerated prepaid royalty amortization expense related to Roundup Ready 2 Yield® and Roundup Ready 2 Xtend® herbicide tolerance traits, which as of the end of the second quarter of 2024 is complete.

Statements of Operations, from non-cash accelerated prepaid royalty amortization expense related to Roundup Ready 2 Yield® and Roundup Ready 2 Xtend® herbicide tolerance traits, which as of the end of the second quarter of 2024 was complete.

NOTE 6 - SUPPLEMENTARY INFORMATION

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Includes losses from sale of receivables, tax indemnification adjustments related to changes in indemnification balances as a result of the application of the terms of the Tax Matters Agreement between Corteva and Dow and/or DuPont, and other items.

The year ended December 31, 2025 includes a charge related to the Bayer resolution offset by the receipt of insurance proceeds.

The year ended December 31, 2024 includes the receipt of insurance proceeds and an indemnification payment negotiated with the prior Stoller owners.

The years ended December 31, 2024, 2023, and 2022 also include estimated settlement reserves and gains (losses) associated with the sale of businesses, assets and equity investments.

The years ended December 31, 2023 and 2022 also include an Employee Retention Credit pursuant to the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act as enhanced by the Consolidated Appropriations Act (“CAA”) and American Rescue Plan Act (“ARPA”).

The year ended December 31, 2022 also includes legal accruals and settlement cost associated with the Russia Exit.

The years ended December 31, 2024 and 2023 also include estimated settlement reserves.

The year ended December 31, 2023 also includes an Employee Retention Credit pursuant to the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act as enhanced by the Consolidated Appropriations Act (“CAA”) and American Rescue Plan Act (“ARPA”).

See Note 22 - Segment Information, to the Consolidated Financial Statements, for additional information on significant items.

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The objective of this program is to maintain an approximately balanced position in foreign currencies in order to minimize, on an after-tax basis, the effects of exchange rate changes on net monetary asset positions.

The hedging program gains (losses) are largely taxable (tax deductible) in the United States (U.S.), whereas the offsetting exchange gains (losses) on the remeasurement of the net monetary asset positions are often not taxable (tax deductible) in their local jurisdictions.

The net pre-tax exchange gains (losses) are recorded in other income (expense) - net

The hedging program gains (losses) are largely taxable (tax deductible) in the United States, whereas the offsetting exchange gains (losses) on the remeasurement of the net monetary asset positions are often not taxable (tax deductible) in their local jurisdictions.

The net pre-tax exchange gains (losses) are recorded in other income (expense) - net and the related tax impact is recorded in provision for (benefit from) income taxes on continuing operations in the Consolidated Statements of Operations.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

and the related tax impact is recorded in provision for (benefit from) income taxes on continuing operations in the Consolidated Statements of Operations.

For the Year Ended December 31,

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Restricted cash equivalents primarily relates to a trust funded by EIDP for cash obligations under certain non-qualified benefit and deferred compensation plans due to the Merger, which was a change in control event, and contributions to escrow accounts established for the settlement of certain legal matters and the settlement of legacy PFAS matters and the associated qualified spend.

All of the company's restricted cash equivalents are classified as current as of December 31, 2024 and 2023.

During the second quarter of 2024, the company's previously-restricted cash in the Water District Settlement Fund, which was established by Corteva, EIDP, Inc., DuPont and Chemours in September 2023 under the Nationwide Water District Settlement, was released.

All of the company's restricted cash equivalents are classified as current as of December 31, 2025 and 2024, except for the $15 million MOU Escrow Account balance at December 31, 2024.

Accounts Payable

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Accounts payable - trade, which is a component of accounts payable, was $ 2,871 million and $ 2,632 million at December 31, 2025 and 2024, respectively.

Included in accounts payable – trade was seed grower compensation of approximately $ 410 million and $ 560 million at December 31, 2024 and 2023, respectively, which is measured at fair value using level 2 inputs for each period presented.

Accrued discounts and rebates, which is a component of accounts payable, was approximately $ 1,207 million and $ 1,170 million at December 31, 2024 and 2023, respectively.

No other components of accounts payable were more than 5 percent of total current liabilities.

Included in accounts payable – trade was seed grower compensation of approximately $ 420 million and $ 410 million at December 31, 2025 and 2024, respectively, which is measured at fair value using Level 2 inputs.

Accrued discounts and rebates, which is a component of accounts payable, was $ 1,328 million and $ 1,207 million at December 31, 2025 and 2024, respectively.

No other components of accounts payable were more than five percent of total current liabilities.

Corteva, Inc.

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NOTE 7 - INCOME TAXES

Domestic and foreign components of the income (loss) from continuing operations before income taxes and the provision for (benefit from) current and deferred tax expense (benefit) are shown below:

Domestic and foreign components of income (loss) from continuing operations before income taxes and the provision for (benefit from) current and deferred tax expense (benefit) are shown below:

Geographic Allocation of Income (Loss) and Provision for (Benefit from) Income Taxes For the Year Ended December 31,

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Notes to the Consolidated Financial Statements (continued)

The table below provides the updated disclosure requirements of ASU 2023-09, which was adopted on a prospective basis for the year ended December 31, 2025.

See Note 3 - Recent Accounting Guidance, to the Consolidated Financial Statements, for a description of the relevant disclosure requirements.

The effective income tax rate applicable to income (loss) from continuing operations before income taxes was different from the statutory U.S.

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Statutory Rate For the Year Ended December 31,

($ In millions) $ %

Federal statutory tax rate $ 354 21.0 %

State and local income tax, net of federal (national) income tax effect 1

Foreign tax effects

Statutory tax rate differential ( 17 ) ( 1.0 ) %

Withholding tax 18 1.1 %

Exchange gains/losses ( 31 ) ( 1.8 ) %

Changes in valuation allowances 73 4.3 %

Other ( 3 ) ( 0.2 ) %

Withholding tax 37 2.2 %

Changes in valuation allowances 2

Other ( 4 ) ( 0.2 ) %

Statutory tax rate differential 17 1.0 %

Agriculture exemption ( 41 ) ( 2.4 ) %

Withholding tax 31 1.8 %

Other 1 0.1 %

Statutory tax rate differential ( 91 ) ( 5.4 ) %

Cantonal income tax, net 59 3.5 %

Other ( 1 ) ( 0.1 ) %

Other foreign jurisdictions 49 2.9 %

Effect of cross-border tax laws (net of related foreign tax credits)

Global Intangible Low-Taxed Income (GILTI) 24 1.4 %

Other 12 0.7 %

research and development credit ( 47 ) ( 2.8 ) %

Other foreign tax credits ( 52 ) ( 3.1 ) %

Changes in valuation allowances 3

Nontaxable or nondeductible items 31 1.8 %

Changes in unrecognized tax benefits ( 19 ) ( 1.1 ) %

Capital loss 3

( 77 ) ( 4.6 ) %

Legal entity tax characterization 4

( 49 ) ( 2.9 ) %

Other ( 22 ) ( 1.3 ) %

Effective tax rate $ 484 28.7 %

State taxes in Minnesota made up the majority (greater than 50%) of the tax effect in this category.

For the year ended December 31, 2025, the company established a valuation allowance recorded against the net deferred tax asset position of a legal entity in Brazil (Crop Protection business) in the amount of $ 132 million.

For the year ended December 31, 2025, a U.S.

federal tax benefit of $( 27 ) million, net of valuation allowance, was recorded to recognize a capital loss in a wholly owned foreign investment.

For the year ended December 31, 2025, a U.S.

federal deferred tax benefit was recorded associated with a change in a legal entity's U.S.

tax characterization in the amount of $( 49 ) million.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

As previously disclosed for the years ended December 31, 2024 and 2023, prior to the adoption of ASU 2023-09, the effective income tax rate differs from the statutory federal income tax rate as follows:

Reconciliation to U.S.

Statutory Rate For the Year Ended December 31,

Statutory U.S.

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Effective tax rates on international operations - net 1

4.8 ( 1.8 ) ( 1.0 )

Acquisitions, divestitures and ownership restructuring activities 2

( 1.1 ) 3.6 ( 5.4 )

research and development credit ( 4.7 ) ( 5.9 )

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Impact of Brazil valuation allowance 6

9.4 — ( 2.5 )

Repatriation of foreign earnings 5

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Includes net tax charge of $ 46 million for the year ended December 31, 2023, associated with intellectual property realignment.

Includes net tax benefits of $( 55 ) million and $( 42 ) million for the year ended December 31, 2022, related to deferred tax assets established upon change in a U.S.

entity's tax characterization, and a worthless stock deduction on Company's investment in a subsidiary after a change in the entity's legal structure, respectively.

Principally reflects the impact of foreign exchange gains and losses on net monetary assets for which no corresponding tax impact is realized.

Further information about the company's foreign currency hedging program is included in Note 7 - Supplementary Information, and Note 20 - Financial Instruments, under the heading Foreign Currency Risk.

Further information about the company's foreign currency hedging program is included in Note 6 - Supplementary Information, and Note 19 - Financial Instruments, to the Consolidated Financial Statements, under the heading "Foreign Currency Risk."

Includes net tax benefits of $( 62 ) million and $( 24 ) million for the year ended December 31, 2023, related to changes in deferred taxes and a tax currency change, respectively.

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foreign tax credits.

Classification in "Effective tax rates on international operations-net" and "Impact of Brazil valuation allowance" for the year ended December 31, 2022 have been adjusted from their previous presentation to conform to the current year's presentation.

For the year ended December 31, 2024, a charge of $ 120 million was recorded to establish a valuation allowance against the net deferred tax asset position of

a legal entity in Brazil (Seed business).

For the year ended December 31, 2022, a benefit of $( 36 ) million was recorded to release a valuation allowance against the net deferred tax asset position of a legal entity in Brazil (Crop Protection business) .

Significant jurisdictions in which income taxes were paid (net of refunds received) are shown below:

Income Taxes Paid, Net For the Year Ended December 31,

(In millions) 2025

US Federal $ 195

US State and Local 49

Switzerland, Federal 59

Switzerland, Geneva 46

Other Foreign 287

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Significant components of the company's net deferred tax asset (liability) were attributable to:

Deferred Tax Balances at December 31, 2024 2023

Deferred Tax Balances December 31, 2025 December 31, 2024

(In millions) Assets Liabilities Assets Liabilities

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Primarily related to tax loss and credit carryforwards from operations in the United States, Argentina, Brazil, Switzerland, and Spain.

During the year ended December 31, 2024, the company established a valuation allowance recorded against the net deferred tax asset position of a legal entity in Brazil.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

During the year ended December 31, 2025, the company established a valuation allowance recorded against the net deferred tax asset position of a legal entity in Brazil (Crop Protection business) in the amount of $ 132 million.

During the year ended December 31, 2024, the company established a valuation allowance against the net deferred tax asset position of a legal entity in Brazil (Seed business) in the amount of $ 120 million.

Details of the company’s operating loss and tax credit carryforwards are shown in the following table:

Operating Loss and Tax Credit Carryforwards Deferred Tax Asset

(In millions) 2024 2023

(In millions) December 31, 2025 December 31, 2024

Operating loss carryforwards

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Total operating loss and tax credit carryforwards $ 631 $ 552

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

A reconciliation of the beginning and ending amount of gross unrecognized tax benefits is as follows:

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As a result, there is an uncertainty in income taxes recognized in the company's financial statements in accordance with accounting for income taxes and accounting for uncertainty in income taxes.

It is reasonably possible that changes to the company’s global unrecognized tax benefits could be significant;

however, due to the uncertainty regarding the timing of completion of audits and possible outcomes, a current estimate of the range of increases or decreases that may occur within the next twelve months cannot be made.

As of December 31, 2024 and 2023, the company has made cumulative advance deposits of $ 100 million and $ 90 million, respectively, to a foreign taxing authority, partially as a prerequisite to petition the court related to an open tax examination.

As of December 31, 2025 and 2024, the company has an advance deposit balance of $ 95 million and $ 100 million, respectively, to a foreign taxing authority, partially as a prerequisite to petition the court related to an open tax examination.

These payments are accounted for as a prepaid asset, included in other assets in the Consolidated Balance Sheets.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Tax years that remain subject to examination for the company’s major tax jurisdictions are shown below:

Tax Years Subject to Examination by Major Tax Jurisdiction at December 31, 2024 Earliest Open Year

Tax Years Subject to Examination by Major Tax Jurisdiction at December 31, 2025

Earliest Open Year

Argentina 2018

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tax group for each year was apportioned among the members of the consolidated group based on each member’s separate taxable income.

Corteva, DuPont and Dow intend that to the extent federal and/or state corporate income tax liabilities are reduced through the utilization of tax attributes of the other, settlement of any receivable and payable generated from the use of the other party’s sub-group attributes will be in accordance with a tax sharing agreement and/or Tax Matters Agreement.

Corteva, DuPont and Dow intend that to the extent federal and/or state corporate income tax

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

liabilities are reduced through the utilization of tax attributes of the other, settlement of any receivable and payable generated from the use of the other party’s sub-group attributes will be in accordance with a tax sharing agreement and/or Tax Matters Agreement.

See Note 15 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements for further information related to indemnifications between Corteva, DuPont and Dow.

On July 4, 2025, the One Big Beautiful Bill Act ("OBBBA") was signed into law, enacting changes in a wide array of policy areas, including federal tax law.

The impacts of OBBBA are included in the financial statements for the year ended December 31, 2025, including the reinstatement of expensing of domestic research and development expenditures.

On August 16, 2022, the U.S.

federal government enacted the Inflation Reduction Act of 2022 (“the Act”).

The Act includes tax provisions, among other things, which implement (i) a 15 percent minimum tax on book income of certain large corporations;

(ii) a one percent excise tax on net stock repurchases;

and (iii) several tax incentives to promote clean energy.

The Act includes tax provisions, among other things, which implement (i) a 15 percent minimum tax on book income of certain large corporations and (ii) a one percent excise tax on net stock repurchases.

The Act did not have a material impact on the company’s financial position, results of operations or cash flows.

In December 2021, the Organization for Economic Cooperation and Development ("OECD") released the Pillar Two Model rules (also referred to as the global minimum tax or Global Anti-Base Erosion "GloBE" rules), which were designed to ensure multinational enterprises pay a certain level of tax within every jurisdiction they operate.

Several jurisdictions in which we operate have enacted these rules, with a January 1, 2024 effective date.

Several jurisdictions in which we operate have enacted these rules.

For the year ended December 31, 2025, there is no material tax charge associated with these rules.

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Net income (loss) available to common stockholders $ 1,094 $ 907 $ 735

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Earnings (Loss) Per Share Calculations - Basic For the Year Ended December 31,

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These outstanding potential shares of common stock relating to stock options, restricted stock units and performance-based restricted stock units were excluded from the calculation of diluted earnings (loss) per share because (i) the effect of including them would have been anti-dilutive;

and (ii) the performance metrics have not yet been achieved for the outstanding potential shares relating to performance-based restricted stock units, which are deemed to be contingently issuable.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

performance metrics have not yet been achieved for the outstanding potential shares relating to performance-based restricted stock units, which are deemed to be contingently issuable.

NOTE 9 - ACCOUNTS AND NOTES RECEIVABLE - NET

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The company establishes the allowance for doubtful receivables using a loss-rate method where the loss rate is developed using past events, historical experience, current conditions and forecasts that affect the collectability of the financial assets.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

The following table summarizes changes in the allowance for doubtful receivables for the years ended December 31, 2024 and 2025, respectively:

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The difference between the carrying amount of the trade receivables sold and the sum of the cash received is recorded as a loss on sale of receivables in other income (expense) - net in the Consolidated Statements of Operations.

The loss on sale of receivables were $ 9 million and $ 17 million, and $ 19 million for the years ended December 31, 2024, 2023 and 2022, respectively.

The loss on sale of receivables were $ 5 million, $ 9 million and $ 17 million for the years ended December 31, 2025, 2024 and 2023, respectively.

See Note 15 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements, for additional information on the company’s guarantees.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

NOTE 10 - INVENTORIES

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Total property, plant and equipment - net $ 4,220 $ 4,099

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Buildings, machinery and equipment and land improvements are depreciated over useful lives on a straight-line basis ranging from 2 to 25 years.

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The following table summarizes changes in the carrying amount of goodwill by segment for the years ended December 31, 2024 and 2025, respectively.

(In millions) Crop Protection Seed Total

Balance as of December 31, 2022 $ 4,618 $ 5,344 $ 9,962

Acquisitions 1

Currency translation adjustment 53 78 131

Balance as of December 31, 2023 $ 5,183 $ 5,422 $ 10,605

(In millions) Seed Crop Protection Total

Balance at December 31, 2023 $ 5,422 $ 5,183 $ 10,605

Currency translation adjustment ( 96 ) ( 139 ) ( 235 )

Other goodwill adjustments 1

Balance as of December 31, 2024 $ 5,082 $ 5,326 $ 10,408

On March 1, 2023, the company completed the acquisitions of Stoller and Symborg, which are included in the Crop Protection segment.

See Note 4 – Business Combinations, to the Consolidated Financial Statements, for additional information .

Balance at December 31, 2024 $ 5,326 $ 5,082 $ 10,408

Currency translation adjustment ( 14 ) 71 57

Balance at December 31, 2025 $ 5,312 $ 5,153 $ 10,465

Includes measurement period adjustments related to the acquisitions of Stoller and Symborg, which were not material.

The company performed annual qualitative testing on all of its reporting units in 2024 and quantitative testing on all of its reporting units in 2023, determining that no goodwill impairments existed in either year.

The company performed annual qualitative testing on all of its reporting units in 2025 and 2024, determining that no goodwill impairments existed in either year.

As of December 31, 2025, accumulated impairment losses on goodwill were $ 4,503 million.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Other Intangible Assets

The gross carrying amounts and accumulated amortization of other intangible assets by major class are as follows:

(In millions) December 31, 2024 December 31, 2023 1

Gross Accumulated

December 31, 2025 December 31, 2024

(In millions) Gross Accumulated

Amortization Net Gross Accumulated

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Total other intangible assets $ 12,974 $ ( 4,673 ) $ 8,301 $ 12,928 $ ( 4,052 ) $ 8,876

Includes the intangible assets acquired in connection with the Stoller and Symborg acquisitions, which were completed on March 1, 2023.

See Note 4 – Business Combinations, to the Consolidated Financial Statements, for additional information.

Primarily consists of sales and farmer networks, marketing and manufacturing alliances and noncompetition agreements.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

The aggregate pre-tax amortization expense from continuing operations for finite-lived intangible assets was $ 644 million, $ 685 million, and $ 683 million for the years ended December 31, 2025, 2024 and 2023, respectively.

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The company's lease agreements do not contain any material restrictive covenants.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

The components of lease cost for the years ended December 31, 2025, 2024 and 2023 were as follows:

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Financing cash outflows from finance leases $ — $ 1 $ 1

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

New leases entered into during the years ended December 31, 2025 and 2024 were not material, on an individual basis .

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Operating leases 6.20 6.44

Financing leases 0.38 1.36

Finance leases 0 0.38

Weighted average discount rate

Operating leases 3.85 % 3.32 %

Financing leases 3.29 % 3.29 %

Finance leases — % 3.29 %

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Maturities of lease liabilities are as follows:

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Present value of lease liabilities $ 415

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

NOTE 14 - SHORT-TERM BORROWINGS, LONG-TERM DEBT AND AVAILABLE CREDIT FACILITIES

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(In millions) December 31, 2025 December 31, 2024

364-Day Revolving Credit Facility $ — $ —

Other loans - various currencies 112 250

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Maturing in May 2032 500 5.125 % — — %

Maturing in May 2033 600 4.80 % 600 4.80 %

Foreign currency loans, various rates and maturities 182 12.70 % 161 12.70 %

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Long-term debt due within one year 782 500

Total $ 1,953 $ 2,291

Principal payments of long-term debt are $ 500 million, $ 761 million and $ 0 million for debt maturing in 2025, 2026 and 2027, respectively.

Total long-term debt $ 1,686 $ 1,953

Principal payments of long-term debt are $ 782 million and $ 500 million for debt maturing in 2026 and 2030, respectively.

There is no debt maturing in 2027, 2028 or 2029.

The estimated fair value of the company's short-term and long-term borrowings, including interest rate financial instruments was determined using Level 2 inputs within the fair value hierarchy, as described in Note 2 - Summary of Significant Accounting Policies.

Based on quoted market prices for the same or similar issues, or on current rates offered to the company for debt of the same remaining maturities, the fair value of the company's short-term borrowings and finance lease obligations was approximately carrying value.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

The fair value of the company's long-term borrowings, including long-term debt due within one year, was $ 2,462 million and $ 2,366 million at December 31, 2025 and 2024, respectively.

Debt Offering

In May 2023, the company issued $ 600 million of 4.5 % Senior Notes due in 2026 and $ 600 million of 4.8 % Senior Notes due in 2033 (the “May 2023 Debt Offering”).

In May 2025, the company issued $ 500 million of 5.125 percent Senior Notes due in May 2032 (the “May 2025 Debt Offering”).

The proceeds were used to repay the $500 million senior notes that matured in July 2025.

In May 2023, the company issued $ 600 million of 4.5 percent Senior Notes due in 2026 and $ 600 million of 4.8 percent Senior Notes due in 2033 (the “May 2023 Debt Offering”).

The proceeds of this offering are intended to be used for general corporate purposes, which may include funding of working capital, capital expenditures and share repurchases.

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Total unused bank credit lines on the Foreign Currency Loans at December 31, 2025 was approximately $ 86 million.

The company's long-term Foreign Currency Loans have varying maturities throughout 2026.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

The company's long-term Foreign Currency Loans are maturing in March 2026.

Available Committed Credit Facilities

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Revolving Credit Facilities

In May 2022, the company entered into a $ 3 billion, 5 year revolving credit facility and a $ 2 billion, 3 -year revolving credit facility (the "Revolving Credit Facilities”) expiring in May 2027 and May 2025, respectively.

In May 2022, the company entered into a $ 3 billion, five year revolving credit facility and a $ 2 billion, three -year revolving credit facility (the "Revolving Credit Facilities”) expiring in May 2027 and May 2025, respectively.

Borrowings under the revolving credit facilities have an interest rate equal to Adjusted Term SOFR , which is Term SOFR plus 0.10 percent, plus the applicable margin.

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At December 31, 2025, the company was in compliance with these covenants.

364-Day Revolving Credit Facilities

In February 2024, the company amended and restated its July 2023 (as amended in July 2023 and January 2024) 364 -day revolving credit agreement (the “364-Day Revolving Credit Facility”) increasing the facility amount to $ 1 billion and extending the expiration date to February 2025.

364-Day Revolving Credit Facility

In January 2023, the company amended and restated its May 2022 364-day revolving credit agreement (the “364-Day Revolving Credit Facility”) increasing the facility amount to $ 1 billion and extending the expiration date to January 2024.

Borrowings under the 364 -Day Revolving Credit Facility have an interest rate equal to Adjusted Term SOFR , which is Term SOFR plus 0.10 percent, plus the applicable margin.

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In February 2023, the company drew down $ 1 billion under the 364 -Day Revolving Credit Facility, which was used for general corporate purposes, including funding seasonal working capital needs, capital spending, dividend payments, share repurchases and to partially fund the Stoller and Symborg acquisitions.

In May 2023, the company repaid the $ 1 billion loan using the proceeds from the May 2023 Debt Offering.

In May 2023, the company repaid the $ 1 billion loan using the proceeds from the May 2023 Debt Offering and subsequently, in July 2023 reduced the available credit from $ 1 billion to $ 500 million.

In February 2024, the company amended and restated the 364-Day Revolving Credit Facility, increasing the facility amount to $ 1 billion and extending the expiration date to February 2025.

In February 2025, the company amended and restated the 364 -Day Revolving Credit Facility, decreasing the facility amount from $ 1 billion to $ 750 million and extending the expiration date to February 2026.

In February 2026, the company amended and restated the 364-Day Revolving Credit Facility, increasing the facility amount from $ 750 million to $ 1.25 billion, extended the expiration date to

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

February 2027 and amended the interest rate to Term SOFR plus the applicable margin.

The 364 -Day Revolving Credit Facility contains customary representations and warranties, affirmative and negative covenants and events of default that are typical for companies with similar credit ratings.

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See below for additional information relating to the indemnification obligations under the Chemours Separation Agreement and the Corteva Separation Agreement.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Obligations for Supplier Finance Programs

The company enters into supplier finance programs with various finance providers in which the company agrees to pay these finance providers the stated amount of confirmed invoices from participating suppliers by the original maturity date.

The company or the financial provider may terminate the agreement upon providing at least thirty days’ written notice.

The company or the finance provider may terminate the agreement upon providing at least thirty days’ written notice.

The payment terms that the company has with its finance providers under supplier finance programs are less than one year.

At December 31, 2025 and 2024, the outstanding obligations under supplier finance programs was approximately $ 121 million and $ 88 million, respectively, and included within accounts payable in the Consolidated Balance Sheets.

The rollforward of the company’s outstanding obligations confirmed as valid under its supplier finance programs for the period ended December 31, 2024 is as follows:

The rollforward of the company’s outstanding obligations confirmed as valid under its supplier finance programs for the years ended December 31, 2024 and 2025 is as follows:

(In millions)

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Confirmed obligations outstanding at December 31, 2024 $ 88

Invoices confirmed during the year 690

Confirmed invoices paid during the year ( 657 )

Confirmed obligations outstanding at December 31, 2025 $ 121

Obligations for Customers and Other Third Parties

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These amounts represent the maximum potential amount of future (undiscounted) payments that the company could be required to make under the guarantees in the event of default by the guaranteed party.

Of the maximum future payments at December 31, 2024, approximately $ 15 million had terms greater than one year.

The maximum future payments include $ 5 million and $ 4 million of guarantees related to the various factoring agreements that the company enters into with third-party financial institutions to sell its trade receivables at December 31, 2025 and 2024, respectively.

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The maximum future payments also include agreements with lenders to establish programs that provide financing for select customers.

The terms of the guarantees are equivalent to the terms of the customer loans that are primarily made to finance customer invoices.

The terms of the guarantees are equivalent to the terms of the customer loans that are primarily made to finance

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

customer invoices.

The total amounts owed from customers to the lenders relating to these agreements was $ 234 million and $ 223 million at December 31, 2025 and 2024, respectively.

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In 2017, the Chemours Separation Agreement was amended to provide for a limited sharing of potential future liabilities related to alleged historical releases of perfluorooctanoic acids and its ammonium salts (“PFOA”) for a five-year period that began on July 6, 2017.

In addition, in 2017, Chemours and EIDP settled multi-district litigation in the U.S.

District Court for the Southern District of Ohio (“Ohio MDL”), resolving claims of about 3,550 plaintiffs alleging injury from exposure to PFOA in drinking water as a result of the historical manufacture or use of PFOA at the Washington Works plant outside Parkersburg, West Virginia.

This plant was previously owned and/or operated by the Performance Chemicals segment of EIDP and is now owned and/or operated by Chemours.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Additionally, in January 2021, a binding memorandum of understanding as described below replaced the potential future liability sharing arrangements established in the 2017 amendment to the Chemours Separation Agreement.

At December 31, 2025 and December 31, 2024, the indemnification assets from Chemours were $ 138 million and $ 43 million, respectively, within accounts and notes receivable - net and $ 470 million and $ 280 million, respectively, within other assets in the interim Consolidated Balance Sheets.

These indemnification assets are regularly assessed for collectability and the company has concluded that these assets are recoverable.

The liabilities subject to Chemours indemnification are considered stray liabilities under the Corteva Separation Agreement.

Therefore, if Chemours fails to indemnify the company, these stray liabilities are subject to proportionate cost sharing between Corteva and DuPont, on a 29 percent and 71 percent basis, respectively, as further described in this footnote below.

On May 13, 2019, Chemours filed suit in the Delaware Court of Chancery against DuPont, EIDP, and Corteva, seeking, among other things, to limit its responsibility for the litigation and environmental liabilities allocated to and assumed by Chemours under the Chemours Separation Agreement (the “Delaware Litigation”).

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Meanwhile, a confidential arbitration process regarding the same and other claims proceeded (the “Arbitration”).

On January 22, 2021, Chemours, DuPont, Corteva and EIDP entered into a binding memorandum of understanding containing a settlement to resolve legal disputes originating from the Delaware Litigation and Arbitration, and to establish a cost sharing arrangement and escrow account to be used to support and manage potential future legacy per- and polyfluoroalkyl substances (“PFAS”) liabilities arising out of pre-July 1, 2015 conduct (the “MOU”).

The MOU replaced the 2017 amendment to the Chemours Separation Agreement.

According to the terms of the cost sharing arrangement within the MOU, Corteva and DuPont together, on one hand, and Chemours, on the other hand, agreed to a 50-50 split of certain qualified expenses related to PFAS liabilities incurred over a term not to exceed twenty years or $ 4 billion of qualified spend and escrow account contributions (see below for discussion of the escrow account) in the aggregate.

DuPont’s and Corteva’s 50 % share under the MOU will be limited to $ 2 billion, including qualified expenses and escrow account contributions.

These expenses and escrow account contributions will be subject to the existing Letter Agreement, under which DuPont and Corteva will each bear 50 % of the first $ 300 million (up to $ 150 million each), and thereafter DuPont bears 71 % and Corteva bears the remaining 29 %.

On January 22, 2021, Chemours, DuPont, Corteva and EIDP entered into a binding memorandum of understanding resolving legal disputes originating from the Delaware Litigation and Arbitration, and establishing a cost sharing arrangement and escrow account supporting and managing potential future legacy per- and polyfluoroalkyl substances (“PFAS”) liabilities arising out of pre-July 1, 2015 conduct (the “MOU”).

The MOU replaced a prior 2017 amendment to the Chemours Separation Agreement.

According to the terms of the MOU, Corteva and DuPont together, on one hand, and Chemours, on the other hand, agreed to a 50-50 split of certain qualified expenses related to PFAS liabilities incurred over a term not to exceed twenty years or $ 4 billion of qualified spend and escrow account contributions (see below for discussion of the escrow account) in the aggregate.

DuPont’s and Corteva’s 50 percent share under the MOU will be limited to $ 2 billion, including qualified expenses and escrow account contributions.

These expenses and escrow account contributions will be subject to the existing Letter Agreement, under which DuPont and Corteva will each bear 50 percent of the first $ 300 million (up to $ 150 million each), and thereafter DuPont bears 71 percent and Corteva bears the remaining 29 percent.

Under the terms of the MOU, Corteva’s estimated aggregate share of the potential $ 2 billion is approximately $ 600 million.

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Over this period, Chemours will deposit a total of $ 500 million in the account and DuPont and Corteva will deposit an additional $ 500 million pursuant to the terms of the Letter Agreement.

Additionally, if on December 31, 2028, the balance of the escrow account (including interest) is less than $ 700 million, Chemours will make 50 % of the deposits and DuPont and Corteva together will make 50 % of the deposits necessary to restore the balance of the escrow account to $ 700 million pursuant to the terms of the Letter Agreement.

Additionally, if on December 31, 2028, the balance of the escrow account (including interest) is less than $ 700 million, Chemours will make 50

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

percent of the deposits and DuPont and Corteva together will make 50 percent of the deposits necessary to restore the balance of the escrow account to $ 700 million, pursuant to the terms of the Letter Agreement.

Such payments will be made in a series of consecutive annual equal installments commencing on September 30, 2029, pursuant to the escrow account replenishment terms as set forth in the MOU.

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Beginning with year 11, the amounts in the MOU Escrow Account can be used to fund any qualified spend.

The company made its annual installment deposits due to the MOU Escrow Account through December 31, 2024.

In April 2024, Corteva, EIDP, DuPont, and Chemours received a final judgment resolving all drinking water claims related to PFAS of a defined class of U.S.

1 unchanged sentence

In connection with the Nationwide Water District Settlement, the MOU was supplemented to waive funding due to the MOU Escrow Account by Chemours, DuPont and Corteva for 2023 provided that each party fully funds its portion of the Nationwide Water District Settlement and said settlement is consummated.

The funding obligation to the MOU Escrow Account with respect to 2024 and due September 30, 2024 will be waived if (i) between October 1, 2023 and September 30, 2024, the parties had entered into settlement agreements resolving liabilities under the MOU that in the aggregate exceed $ 100 million ;

The funding obligation to the MOU Escrow Account with respect to 2024 and due September 30, 2024 was to be waived if (i) between October 1, 2023 and September 30, 2024, the parties had entered into settlement agreements resolving liabilities under the MOU that in the aggregate exceed $ 100 million ;

(ii) each company had fully funded its respective share, in accordance with the MOU, of such settlements;

1 unchanged sentence

No such waiver was triggered for the 2024 escrow funding obligation due September 30, 2024 and, therefore, the company made its required contribution.

The company made its annual installment deposits due to the MOU Escrow Account through December 31, 2025.

The MOU escrow account contains $ 105 million as of December 31, 2025, representing the aggregate contributions from Chemours, DuPont and Corteva, less withdrawals to fund related settlements.

After the term of this arrangement, Chemours’ indemnification obligations under the original 2015 Chemours Separation Agreement, would continue unchanged, subject in each case to certain exceptions set out in the MOU.

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The parties are expected to cooperate in good faith to enter into additional agreements reflecting the terms set forth in the MOU.

The Chemours Separation Agreement obligates Chemours to defend and indemnify EIDP in legacy asbestos cases.

As of December 31, 2025, there were approximately 900 pending lawsuits, with most being allegations of personal injury from Historical DuPont contractors.

At December 31, 2025 and 2024, the company has a litigation accrual of $ 88 million and $ 38 million , respectively, and related indemnification assets of $ 87 million and $ 38 million , respectively, recorded.

Corteva Separation Agreement

On April 1, 2019, in connection with the Dow Distribution, Corteva, DuPont and Dow entered into the Corteva Separation Agreement, the Tax Matters Agreement ("TMA"), the Employee Matters Agreement, and certain other agreements (collectively, the “Corteva Separation Agreements”).

The Corteva Separation Agreements allocate among Corteva, DuPont and

The Corteva Separation Agreements allocate among Corteva, DuPont and Dow assets, employees, certain liabilities and obligations (including its investments, property and employee benefits and tax-related assets and liabilities) and provides for indemnification obligation among the parties.

Under the Corteva Separation Agreement, DuPont indemnifies Corteva against certain litigation, environmental, tax, workers' compensation and other liabilities that arose prior to the Corteva Distribution, Dow indemnifies Corteva against certain litigation, environmental, tax, workers' compensation and other liabilities that relate to the Historical Dow business, and Corteva indemnifies DuPont and Dow for certain liabilities.

Under the Corteva Separation Agreements, certain legacy EIDP liabilities from discontinued and/or divested operations and businesses of EIDP (including Performance Chemicals) (a “stray liability”) were allocated to Corteva or DuPont.

Costs and liabilities have been shared based on the terms of the Corteva Separation Agreement.

All future stray liabilities are allocated to Corteva and DuPont proportionally on the basis of 29 percent and 71 percent, respectively, subject to a $ 1 million de minimis requirement.

On November 1, 2025, DuPont spun off its electronics business, Qnity Electronics, Inc.

DuPont, Corteva and Qnity entered into a letter agreement, effective November 1, 2025, affirming that DuPont is not novated from its obligations with respect to Corteva for legacy liabilities allocated to Qnity in its spin-off ("Qnity Letter Agreement").

Additionally, under the Qnity Letter Agreement, Corteva has certain third-party beneficiary rights to enforce indemnity and payment obligations of DuPont's with respect to legacy liabilities allocated to Qnity subject to:

(i) DuPont's consent;

or (ii) Corteva's receipt of a judgment that includes payment obligations for legacy liabilities attributable to Qnity, and either DuPont does not use commercially reasonable efforts to enforce the payment obligation against Qnity, or DuPont files for bankruptcy.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Dow assets, employees, certain liabilities and obligations (including its investments, property and employee benefits and tax-related assets and liabilities) among the parties and provides for indemnification obligation among the parties.

Under the Corteva Separation Agreements, DuPont indemnifies Corteva against certain litigation, environmental, tax, workers' compensation and other liabilities that arose prior to the Corteva Distribution and Dow indemnifies Corteva against certain litigation, environmental, tax, workers' compensation and other liabilities that relate to the Historical Dow business, and Corteva indemnifies DuPont and Dow for certain liabilities.

Indemnification matters under the Corteva Separation Agreements contain dispute resolution clauses.

Corteva and DuPont are pursuing a resolution of a matter under the terms of the TMA.

The company believes its interpretation of the TMA is correct, but it is reasonably possible that the required third-party assessment may differ from our interpretation, which could have a significant impact to the current carrying value of our indemnification liability.

Under the terms of the TMA, the dispute resolution process is expected to be concluded in the first half of 2025.

Under the Corteva Separation Agreement, certain legacy EIDP liabilities from discontinued and/or divested operations and businesses of EIDP (including Performance Chemicals) (a “stray liability”) were allocated to Corteva or DuPont.

For those stray liabilities allocated to Corteva and DuPont (which may include a specified amount of liability associated with that liability), Corteva and DuPont are responsible for liabilities in an amount up to that specified amount plus an additional $ 200 million each.

Once each company has met the $ 200 million threshold, Corteva and DuPont will share future liabilities proportionally on the basis of 29 % and 71 %, respectively;

provided, however, that for PFAS, DuPont managed such liabilities with Corteva and DuPont sharing the costs on a 50 % - 50 % basis starting from $ 1 and up to $ 300 million (with such amount, up to $ 150 million, to be credited to each company’s $ 200 million threshold) and once the $ 300 million threshold was met, the companies share proportionally on the basis of 29 % and 71 % respectively, subject to a $ 1 million de minimis requirement.

The aggregate amount of cash remitted by Corteva has exceeded the stray liability thresholds, including PFAS, noted above.

In addition to the TMA dispute process, Corteva initiated a dispute resolution process under the Corteva Separation Agreement with respect to the classification of potential liabilities resulting from certain non-PFAS related disputes.

Under the terms of the Corteva Separation Agreement, absent a near-term resolution, the dispute would proceed to arbitration in the second quarter of 2025.

At December 31, 2024 and December 31, 2023, the indemnification assets were $ 47 million and $ 44 million, respectively, within accounts and notes receivable - net and $ 143 million and $ 104 million, respectively, within other assets in the Consolidated Balance Sheets.

At December 31, 2024 and December 31, 2023, the indemnification liabilities were $ 9 million and $ 30 million, respectively, within accrued and other current liabilities and $ 149 million and $ 106 million, respectively, within other noncurrent obligations in the Consolidated Balance Sheets.

At December 31, 2025 and 2024, the aggregate indemnification assets from DuPont and Dow were $ 104 million and $ 47 million, respectively, within accounts and notes receivable - net and $ 263 million and $ 143 million, respectively, within other assets in the Consolidated Balance Sheets.

At December 31, 2025 and December 31, 2024, the aggregate indemnification liabilities were $ 26 million and $ 9 million, respectively, within accrued and other current liabilities and $ 154 million and $ 149 million, respectively, within other noncurrent obligations in the Consolidated Balance Sheets.

Discontinued Operations Activity

For the year ended December 31, 2024 and 2023, the company recorded benefits (charges) of $ 56 million and $( 194 ) million, to income (loss) from discontinued operations after income taxes, in the Consolidated Statement of Operations.

For the years ended December 31, 2025 and 2024, the company recorded benefits (charges) of $( 99 ) million and $ 56 million, to income (loss) from discontinued operations after income taxes, in the Consolidated Statement of Operations.

The after-tax charge recognized during the year ended December 31, 2025 was driven by charges relating to the MOU with Chemours and DuPont, comprised of a litigation charge associated with the NJ Statewide Settlement as well as PFAS environmental remediation activities primarily at Chemours' Fayetteville Works facility, along with other environmental matters.

The after-tax benefit recognized during the year ended December 31, 2024 was driven by charges pursuant to the MOU with Chemours and DuPont relating to PFAS remediation activities primarily at Chemours' Fayetteville Works facility and litigation activity, which were more than offset by a favorable adjustment of certain prior year tax positions for previously divested businesses, the derecognition of an indemnification liability associated with the Water District Settlement Fund contribution, and insurance proceeds related to legacy matters.

The after-tax charges recognized during the year ended December 31, 2023 included approximately $( 175 ) million associated with the settlement of certain legacy PFAS related legal matters that are subject to the MOU, including the Nationwide Water District Settlement and the State of Ohio related to natural resource damage claims, and charges associated with environmental remediation activities primarily at Chemours' Fayetteville Works facility.

The company is subject to various legal proceedings, including, but not limited to, product liability, intellectual property, antitrust, commercial, property damage, personal injury, environmental and regulatory matters arising out of the normal course of its current businesses or legacy EIDP businesses unrelated to Corteva’s current businesses but allocated to Corteva as part of the separation of Corteva from DuPont.

It is not possible to predict the outcome of these various proceedings, as considerable uncertainty exists.

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For the litigation matters discussed below, management believes that it is reasonably possible that the company could incur liabilities in excess of amounts accrued, for which the ultimate liability could be material to the results of operations and the cash flows in the period recognized.

However, the company is unable to estimate the possible loss beyond amounts accrued due to various reasons, including, among others, that the underlying matters are either in early stages and/or

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Notes to the Consolidated Financial Statements (continued)

have significant factual issues to be resolved.

However, the company is unable to estimate the possible loss beyond amounts accrued due to various reasons, including, among others, that the underlying matters are either in early stages and/or have significant factual issues to be resolved.

In addition, even when the company believes it has substantial defenses, the company may consider settlement of matters if it believes it is in the best interest of the company.

At December 31, 2025 and 2024, current accrued litigation was $ 874 million and $ 228 million, respectively, within accrued and other current liabilities.

A current indemnification asset of $ 188 million was recorded within accounts and notes receivable - net at December 31, 2025 in relation to the current accrued litigation.

See the "Chemours Separation Agreement (Performance Chemicals)" and the "Corteva Separation Agreement" sections for further details on the indemnifications.

Bayer Dispute

In August 2022, Bayer filed a breach of contract/declaratory judgment lawsuit in Delaware state court against Corteva relating to an agrobacterium cross-license agreement and E3® soybeans.

Bayer alleges that Corteva practiced two Bayer patents in developing E3® soybeans, and therefore, is entitled pursuant to the terms of the cross-license agreement to royalties of $ 200 million for sales between 2019 and 2023 and other damages.

In April 2023, Corteva's motion to dismiss the complaint on the basis that, under the terms of the cross-license agreement and the law, E3® soybeans cannot infringe expired patents was denied.

At that time the court also denied Bayer’s motion to dismiss our invalidity counterclaim.

In December 2024, Corteva moved for summary judgment on the basis that U.S.

Supreme Court precedent prohibits the collection of royalties after patent expiration.

In August 2022, Bayer filed a breach of contract/declaratory judgment lawsuit in Delaware state court against Corteva relating to an agrobacterium cross-license agreement and Enlist E3® soybeans.

Bayer alleged that Corteva practiced two Bayer patents in developing Enlist E3® soybeans, and therefore, is entitled pursuant to the terms of the cross-license agreement to royalties for sales between 2019 through 2029, along with interest.

In January 2025, the court issued several rulings precluding Corteva's invalidity and inequitable conduct defenses, while also aligning on key aspects of Corteva's patent claim construction.

Corteva is seeking the court’s reconsideration of Corteva’s invalidity and inequitable conduct defenses.

The trial date is currently scheduled for June 2025.

In May 2025, the Delaware state court granted Corteva’s motion for partial summary judgment agreeing that U.S.

Supreme Court precedent precludes the collection of royalties after patent expiration.

Bayer’s motion for reconsideration was denied in June 2025.

In July 2025, a stipulated order allowed Bayer to appeal the summary judgment finding, while also allowing Corteva’s cross-appeal of the dismissal of its invalidity and inequitable conduct defenses.

In August 2022, Corteva filed a lawsuit against Bayer CropScience LLP and Monsanto Company (collectively “Bayer”) in federal court in Delaware for alleged infringement of Corteva’s patented AAD-1 herbicide resistance technology used in Enlist® corn.

The complaint for this lawsuit was amended to include additional patents that are closely related to this patented technology for soybeans.

Corteva seeks to enjoin Bayer from continuing to infringe, as well as appropriate monetary damages.

Bayer has filed an answer to the complaint and has asserted various affirmative defenses including invalidity.

In August 2023, the court issued a decision adopting Corteva’s claim construction for all five disputed patent terms subject to this litigation.

In December 2023, the Patent Trial and Appeal Board ("PTAB") authorized an Inter Partes Review (“IPR”) proceeding initiated by Bayer to review the patentability of three patents subject to the AAD-1 litigation.

Inari joined the IPR proceeding.

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Notes to the Consolidated Financial Statements (continued)

December 2024, the PTAB issued a decision invalidating these patents on the basis they were unpatentable.

Corteva appealed this decision and Corteva's AAD-1 lawsuit remains stayed during pendency of the IPR appeal.

Corteva holds numerous additional patents covering its Enlist® traits or Enlist® weed control system.

Therefore, the IPR process is not expected to impact its ability to license and protect Enlist E3® traits.

In October 2022, Corteva filed a lawsuit against Bayer in Delaware state court seeking a declaration that, under the terms of Corteva’s licensing agreement and the law, Bayer is not entitled to collect patent royalties on the Roundup Ready® Corn 2 trait after Bayer’s U.S.

patent protection expires, and therefore is no longer required to pay royalties under the licensing agreement and entitled to recover relevant royalties paid.

In September 2024, the court granted Bayer’s motion for summary judgment.

Corteva’s appeal was heard by the Delaware Supreme Court, en banc, in May 2025.

Additionally, Corteva initiated arbitration of two additional agreements with Bayer seeking similar relief.

The Delaware Supreme Court stayed the appeal proceedings pending resolution discussions between Corteva and Bayer.

As of January 2026, the parties agreed to settle the agrobacterium cross-license agreement dispute.

In addition, Corteva and Bayer resolved several other disputes regarding post-patent royalties and other matters, including post-patent regulatory support, resulting in the termination or amendment of the related licenses, as applicable.

As part of the resolution of these matters, the cross-license agreement has been terminated and Corteva has agreed to a payment of $ 610 million and to drop its AAD-1 patent claims against Bayer.

Also as a result of the resolution of this litigation and the related license terminations and amendments, potential royalty obligations for Corteva's Enlist E3® soybeans, as well as future royalty payments due to Bayer under other licensing agreements in dispute were terminated.

The settlement agreements support Corteva's product out-licensing growth in competitive corn, cotton and canola markets, including for the out-licensing of above and below ground triple-stack corn technology.

In conjunction with resolution of these matters, the companies also agreed to new cotton licensing arrangements at terms reflective of market rates.

There is no remaining litigation between the parties.

Federal Trade Commission Investigation

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In December 2022, attorneys general in Tennessee and Washington joined the FTC lawsuit and the Arkansas state attorney general filed a separate lawsuit against Corteva and another competitor based on the allegations set forth in the FTC lawsuit.

In July 2025, the Arkansas state attorney general amended the complaint to include methoxyfenozide, cyhalofop, picloram, triclopyr, and aminopyralid products.

Several proposed private class action lawsuits were also filed in federal court alleging anticompetitive conduct based on the allegations set forth in the FTC lawsuit.

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Specifically, the court order dismissed the plaintiff's federal damages claims and 13 of the 27 state consumer protection act claims.

The plaintiffs amended their complaint to include methoxyfenozide products.

The trials for these claims are expected to begin in 2027.

Lorsban® Lawsuits

As of December 31, 2024, there were pending asserted claims for personal injury against the former Dow Agrosciences LLC, alleging injuries related to chlorpyrifos exposure, the active ingredient in Lorsban®, an insecticide used by commercial farms for field fruit, nut and vegetable crops.

As of December 31, 2024, there were asserted claims for personal injury against the former Dow Agrosciences LLC, alleging injuries related to chlorpyrifos exposure, the active ingredient in Lorsban®, an insecticide used by commercial farms for field fruit, nut and vegetable crops.

Corteva ended its production of Lorsban® in 2020.

Chlorpyrifos products are restricted-use pesticides, which are not available for purchase or use by the general public, and may only be sold to, and used by, certified applicators or someone under the certified applicator's direct supervision.

These lawsuits do not relate to Dursban®, a residential type chlorpyrifos product that was authorized for indoor purposes, which was discontinued over two decades ago prior to the Merger and Corteva’s formation and Separation.

Claimants allege personal injury, including autism, developmental delays and/or decreased neurologic function, resulting from farm worker exposure and bystander drift and in utero exposure to chlorpyrifos.

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As of December 31, 2025, an accrual has been established for the estimated resolution of certain claims.

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Notes to the Consolidated Financial Statements (continued)

Litigation related to legacy EIDP businesses unrelated to Corteva’s current businesses

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The settlement class has about 80,000 members.

In addition to relief that was provided to class members years ago, the settlement requires EIDP to continue providing PFOA water treatment to six area water districts and

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

private well users and to fund, through an escrow account, up to $ 235 million for a medical monitoring program for eligible class members.

In addition to relief that was provided to class members years ago, the settlement requires EIDP to continue providing PFOA water treatment to six area water districts and private well users and to fund, through an escrow account, up to $ 235 million for a medical monitoring program for eligible class members.

As of December 31, 2025, approximately $ 2 million had been disbursed from the account since its establishment in 2012 and the remaining balance is approximately $ 1 million.

The Leach settlement permits class members to pursue personal injury claims for six health conditions (and no others) that an expert panel appointed under the settlement reported in 2012 had a “probable link” (as defined in the settlement) with PFOA:

pregnancy-induced hypertension, including preeclampsia;

kidney cancer;

testicular cancer;

thyroid disease;

ulcerative colitis;

and diagnosed high cholesterol.

After the panel reported its findings, approximately 3,550 personal injury lawsuits were filed in federal and state courts in Ohio and West Virginia and consolidated in multi-district litigation in the U.S.

District Court for the Southern District of Ohio (“Ohio MDL”).

The Ohio MDL was settled in early 2017 for approximately $ 670 million in cash, with Chemours and EIDP (without indemnification from Chemours) each paying half.

Post-MDL Settlement PFOA Personal Injury Claims

The 2017 Ohio MDL settlement did not resolve claims of plaintiffs who did not have claims in the Ohio MDL or whose claims are based on diseases first diagnosed after February 11, 2017.

In January 2021, Chemours, DuPont and Corteva agreed to settle approximately 95 filed and unfiled matters, remaining in the Ohio MDL, with the exception of the Abbott Case, for $ 83 million, with Chemours contributing $ 29 million to the settlement, and DuPont and Corteva contributing $ 27 million each.

The company paid $ 27 million during the year ended December 31, 2021.

PFOA Personal Injury Claims

In December 2024, the defendants reached a settlement of all of the currently filed and unfiled personal injury cases in the Ohio MDL for $ 59 million.

The settlement is payable in two installments, in which the first payment of $ 30 million was paid in December 2024, with $ 4 million contributed by Corteva.

The second installment is contingent upon the court dissolving the MDL.

As of December 31, 2024, an accrual has been established for the estimated resolution of these claims.

The settlement was payable in two installments, with $ 8 million contributed in aggregate by Corteva.

The final installment was paid upon the court dissolving the MDL in March 2025.

Other PFOA Matters

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Aqueous Film-Forming Foams.

Approximately 5,000 cases remain filed against 3M and other defendants, including EIDP and Chemours, and some including Corteva and DuPont, alleging personal injury (primarily prostate, kidney, and testicular cancer) from the use of aqueous film-forming foams (“AFFF”) and consolidated in a multi-district litigation proceeding in federal district court in South Carolina (“SC MDL”).

Approximately 10,100 cases filed against 3M and other defendants, including EIDP and Chemours, and some including Corteva and DuPont, alleging personal injury (primarily kidney, testicular, liver and thyroid cancer) from the use of aqueous film-forming foams (“AFFF”) or contamination, in most cases due to migration from military installations or airports, consolidated in a multi-district litigation proceeding in federal district court in South Carolina (“SC MDL”).

Most of these recent cases also assert claims that the EIDP and Chemours separation constituted a fraudulent conveyance.

The SC MDL ordered the dismissal of plaintiff claims by September 10, 2024, without prejudice, if such plaintiff could not produce peer reviewed science and expert reports supporting PFAS as both the general and specific causation of their personal injury.

The first bellwether personal injury trial is expected to begin in October 2025.

Additionally, in December 2023, a class action was filed in Canada against 3M and other defendants, including EIDP and Chemours, alleging PFOS and PFOA environmental contamination and personal injury from use of AFFF.

In August 2025, the SC MDL entered multiple case management orders requiring cases filed outside the SC MDL to be transferred to the SC MDL, establishing a 21-day window for unfiled cases to be filed, and allowing the filing of multi-plaintiff complaints.

A significant number of new cases asserting personal injury were filed or transferred to the SC MDL.

Many of the personal injury cases both inside and outside the SC MDL include and continue to include, as new cases are threatened, multiple plaintiffs.

Therefore, the number of plaintiffs asserting such claims is substantially higher than the number of cases set forth above.

The first bellwether personal injury trial is expected to be scheduled for 2026.

Discussions between the parties on a resolution to these cases remain ongoing.

Nationwide Water District Settlement.

On June 1, 2023, Corteva, EIDP, Inc., DuPont, and Chemours (collectively, the “settling companies”) entered into a binding agreement in principle to comprehensively resolve all drinking water claims related to PFAS of a defined class of U.S.

public water systems that serve the vast majority of the United States population, including, but not limited to the AFFF claims in the SC MDL Nationwide Water District Settlement.

public water systems that serve the vast majority of the United States population, including, but not limited to the AFFF claims in the SC MDL, under the Nationwide Water District Settlement, for $ 1.185 billion in the aggregate.

PFAS, as defined in the settlement, includes PFOA and HFPO-DA, among a broad range of fluorinated organic substances.

In April 2024, the settlement was deemed final resulting in the release of the previously restricted cash in the Water District Settlement Fund and derecognition of the associated liability.

The Nationwide Water District Settlement was entered into solely by way of compromise and settlement and is not in any way an admission of liability or fault by Corteva or EIDP.

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Notes to the Consolidated Financial Statements (continued)

The class represented by the Nationwide Water District Settlement is composed of all Public Water Systems, as defined in 42 U.S.C.

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The Class does not include water systems owned and operated by a State or the United States government;

small systems that have not detected the

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Notes to the Consolidated Financial Statements (continued)

presence of PFAS and are not currently required to monitor for it under federal or state requirements;

small systems that have not detected the presence of PFAS and are not currently required to monitor for it under federal or state requirements;

and, unless they otherwise request to be included, water systems in the lower Cape Fear River Basin of North Carolina.

The total number of requests for exclusion (“opt-outs”) was approximately 900 water districts while most public water districts (approximately 93 percent of the Class) remain in the class settlement.

In late March of 2019, the New Jersey State Attorney General filed four lawsuits against EIDP, Chemours, and others alleging that operations at and discharges from former EIDP sites in New Jersey (Chambers Works, Pompton Lakes, Parlin and Repauno) damaged the State’s natural resources.

The company has been served complaints from opt-outs, as well as water district and municipal authority claims not covered by the Nationwide Water District Settlement.

In late March 2019, the New Jersey State Attorney General filed four lawsuits against EIDP, Chemours, and others alleging that operations at and discharges from former EIDP sites in New Jersey (Chambers Works, Parlin, Pompton Lakes, and Repauno) damaged the State’s natural resources.

Two of these lawsuits (those involving the Chambers Works and Parlin sites) allege contamination from PFAS.

DuPont and Corteva were subsequently added as defendants to these lawsuits.

These lawsuits include claims under the New Jersey Industrial Site Recovery Act (“ISRA”) and for fraudulent conveyance.

These cases are proceeding to trial with the Chambers Works site case expected to begin in May 2025.

EIDP and Chemours are also defendants in two lawsuits by a private water utility provider in New Jersey and New York alleging damages from PFAS releases into the environment, that impacted water sources that the utilities use to provide water, as well as product liability, negligence, nuisance, and trespass claims.

The court dismissed the New York plaintiff's trespass claims and limited plaintiffs’ nuisance claims to abatement damages.

These lawsuits include claims for remediation, fraudulent conveyance, as well as claims under the New Jersey Water Pollution Control Act and the New Jersey Industrial Site Recovery Act (“ISRA”).

On August 3, 2025, the company, together with Chemours and DuPont agreed to a proposed Judicial Consent Order with the State of New Jersey (the "NJ Statewide Settlement") to resolve all outstanding claims by the State of New Jersey pending against the companies related to the legacy use of a wide variety of substances of concern, including, but not limited to DNAPL (dense non-aqueous phase liquids), chemical solvents, and PFAS.

Subject to a public notice and comment period and subject to court approval following that period, the NJ Statewide Settlement will also resolve legacy claims related to four Historical DuPont operating sites (Chambers Works, Parlin, Pompton Lakes and Repauno) in the State, including claims under ISRA, alleged statewide PFAS contamination, including from the use of AFFF, claims of fraudulent conveyance, and claims for known natural resource damages from these Historical DuPont sites that the State of New Jersey and its departments have, or may have, in the future against the companies.

The NJ Statewide Settlement, after the expiration of the public notice and comment period, is subject to court approval.

The court hearing for this approval occurred in January 2026 with a conclusion on the approval expected during the first half of 2026.

The NJ Statewide Settlement includes aggregate cash payments to the State of New Jersey of $ 875 million, payable over a period of 25 years (net present value of approximately $ 500 million, using an 8 percent discount rate), responsibility for which will be allocated among the settling companies in accordance with the terms of the MOU.

Of the $ 875 million, approximately $ 16 million is allocated to statewide natural resource damages unrelated to the four Historical DuPont sites, 25 percent of which relates to alleged statewide AFFF contamination.

Accordingly, in the second quarter of 2025, the company recorded a pre-tax loss of $ 72 million ($ 58 million after-tax) within discontinued operations, reflecting the net present value of the company's share of the aggregate cash payment in accordance with the MOU.

The settling companies have agreed to count the NJ Statewide Settlement against the MOU limit at net present value as of the date of the NJ Statewide Settlement.

Entry into the NJ Statewide Settlement suspended the companies' 2025 MOU escrow funding obligations and funding of the initial payment under the NJ Statewide Settlement, expected in 2026, will be deemed to satisfy these obligations for 2025.

In addition to the cash payment, the NJ Statewide Settlement obligates certain settling companies to continue to undertake remediation at the four Historical DuPont sites, which will be determined in accordance with applicable law and the respective cost sharing arrangements between the settling companies, to the extent applicable.

DuPont and Chemours will be responsible for the remediation at the sites under their current respective ownership.

As part of the NJ Statewide Settlement, the companies have agreed to a binding third party review process of the remedial funding source ("RFS") for each of the four Historical DuPont sites (in the form of a surety bond or similar financial instrument) to ensure available funds for future remediation of these sites.

This review process could identify additional required remediation, and an increase to the RFS for each of these sites.

The company and DuPont will also establish a reserve fund (in the form of a surety bond or similar financial instrument) in the amount of $ 475 million (the "Reserve Fund") with DuPont funding 71 percent and the company bearing the remaining 29 percent.

The Reserve Fund is further financial security, separate from, and secondary to, the RFS, and the Reserve Fund will be accessible only in the event the RFS for a site has been exhausted and the party responsible for a site is not otherwise performing the required remediation.

If a responsible party under the NJ Statewide Settlement defaults on their remediation or payment obligations (subject first to the cost sharing arrangements under the Corteva Separation Agreements, which provides that these obligations are "stray liabilities"), EIDP will become responsible for such obligations.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Under the NJ Statewide Settlement, no settling party admits any liability or wrongdoing or agrees to waive any defenses as to any such liability or wrongdoing.

Pursuant to a separate agreement among the company, DuPont, and Chemours, DuPont and the company will purchase Chemours' future interest, if any, in certain insurance proceeds.

DuPont and the company will make the purchase by contributing a total of $ 150 million, with $ 106 million from DuPont and $ 44 million from the company, into an escrow fund, with funds to be released to pay Chemours' share of the NJ Statewide Settlement.

DuPont and the company will pay Chemours, as additional contingent consideration, amounts received from the acquired insurance proceeds in excess of $ 150 million plus an accrued fee.

The accrued fee will equal the lesser of (a) $ 35 million, and (b) $ 3 million plus interest (at prime minus 2 percent) on an initial balance of $ 150 million, as reduced by any amounts received by DuPont and Corteva from the acquired insurance proceeds, until DuPont and the company have so received $ 150 million, plus the accrued fee.

The purchase price to be paid to Chemours, and the insurance proceeds recovered, by DuPont and the company from the insurance proceeds acquired from Chemours, are subject to the sharing percentages under the Letter Agreement.

EIDP is a defendant in two lawsuits, including an action by the State of Ohio based on alleged damage to natural resources.

The natural resources damage claim was settled in December 2023 for $ 110 million and received final approval under Ohio's judicial consent order process.

If approved, Corteva’s share of the settlement under the MOU will be approximately $ 16 million.

The natural resources damage claim was preliminarily resolved in December 2023 for $ 110 million, with Corteva’s share of the settlement under the MOU being approximately $ 16 million of which $ 13 million has been paid.

As of December 31, 2025, an accrual has been established.

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With further opportunities for appeals expired, the plaintiffs filed a new case, narrowing their original claims, in June 2024.

In January 2025, EIDP filed a motion to dismiss the new case on the grounds it remains similar to the original claim.

EIDP is a defendant in a putative class action (the "Baker Class Action"), brought by persons who live in and around Hoosick Falls, New York.

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In September 2022, the class certification of the Baker Class Action was granted, with the court certifying three separate classes consisting of a private well property damage class, a medical monitoring class and a nuisance class.

The trial for the Baker Class Action is expected to begin in July 2025.

A settlement in principle of the Baker Class Action was reached in June 2025 for $ 22 million, plus funding $ 1 million annually to a medical monitoring fund for five years .

As of December 31, 2025, an accrual for Corteva’s share of the expected settlement under the MOU was established.

EIDP is a defendant in a lawsuit brought by the Town of East Hampton, New York alleging PFOA and PFOS contamination of the town’s well water.

This district submitted a timely opt-out request from the Nationwide Water District Settlement.

The court dismissed the New York plaintiff's trespass claims and limited plaintiffs’ nuisance claims to abatement damages

Other Natural Resource Damage Cases.

In addition to the natural resource damage cases in New Jersey and New York, natural resource damage filed lawsuits against EIDP, Chemours, and others, claiming, among other things, PFC (including PFOA) contamination of groundwater and drinking water, have been filed by 31 state attorneys general, the District of Columbia and three U.S.

In addition to the natural resource damage cases in New Jersey and New York, natural resource damage lawsuits against EIDP, Chemours, and others, claiming, among other things, PFC (including PFOA) contamination of groundwater and drinking water, have been filed by attorneys general in 31 states, the District of Columbia and three U.S.

Certain cases also name DuPont and Corteva as defendants and include claims of fraudulent conveyance.

The complaints seek reimbursement for past and future costs to investigate and remediate the alleged contamination and compensation for the loss of value and use of the state’s natural resources.

The complaints seek reimbursement for past and future costs to monitor and remediate the alleged contamination and compensation for the loss of value and use of the state’s natural resources, as well as punitive damages.

Due to overlapping AFFF allegations, virtually all of these cases have been transferred, or are pending transfer to the SC MDL.

These cases are largely in the discovery phase.

While the recent mediation of the natural resource case in North Carolina and New Jersey concluded without resolution, discussions continue between the parties to seek a resolution.

On July 13, 2021, Chemours, DuPont, EIDP and Corteva entered into a settlement agreement with the State of Delaware reflecting the companies' and the State's agreement to settle and fully resolve claims alleged against the companies regarding their historical Delaware operations, manufacturing, use and disposal of all chemical compounds, including PFAS.

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Supplemental Payment(s), if any, will not exceed $ 25 million in the aggregate.

All amounts paid by the companies under the settlement are subject to the MOU and the Corteva Separation Agreement.

Due to the settlement of natural resource damages claims with the State of Ohio, the one-time Supplemental Payment will be triggered when the further opportunity for appeals

All amounts paid by the companies under the

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Notes to the Consolidated Financial Statements (continued)

expires under the Ohio judicial consent order process, with Corteva’s share under the MOU being approximately $ 4 million, for which an accrual has been established.

settlement are subject to the MOU and the Corteva Separation Agreement.

Due to the settlement of natural resource damages claims with the State of Ohio, the one-time Supplemental Payment will be triggered when the further opportunity for appeals expires under the Ohio judicial consent order process.

As of December 31, 2025, an accrual has been established for Corteva's share under the MOU.

Under the settlement, if the state sues other parties and those parties seek contribution from the companies, the companies will have protection from contribution up to the amounts previously paid under the settlement agreement.

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A putative class action was also filed in July 2024 on behalf of citizens of Quebec, Canada seeking class certification to recover for alleged PFAS and AFFF contamination of private wells and public water treatment facilities.

In January 2024, a class action was also filed in Canada against 3M and other defendants, including EIDP and Chemours, alleging PFOS and PFOA environmental contamination and personal injury from use of AFFF.

Additionally, several lawsuits on behalf of consumers of PFAS-infused products in the Province of British Columbia for personal injury and PFAS contamination in Manitoba, Canada have been filed.

Netherlands .

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While the letter of intent contemplates the possibility of settlement, discussions between the parties related to the resolution to these matters remain ongoing.

Although the company believes a loss is probable, it is not estimable at this time due to various reasons including, among others, that such discussions remain in their early stages.

Although the company believes a loss is probable, it is not estimable at this time due to various reasons including, among others, the status of discussions between the parties.

As of December 31, 2025, an accrual has been established for the estimated environmental remediation set forth in the letter of intent.

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The city of Centre, Alabama water district alleged defendants, including EIDP, Chemours, other chemical suppliers and large carpet mills, discharged PFAS in their industrial wastewater, and that this wastewater after treatment, resulted in PFAS contamination of drinking water supplies.

The trial for the Centre, Alabama water district carpet mill case is scheduled for March 2025.

The trial for the Centre, Alabama water district carpet mill case is set to begin January 2026.

In July 2024, the town of Lyerly, Georgia filed a case making similar allegations as those brought in the Centre, Alabama case.

Numerous carpet manufacturers, their alleged suppliers and former suppliers, including EIDP and Chemours, and certain municipal or utility defendants are also subject to several lawsuits in Georgia, Alabama and South Carolina, alleging negligence, nuisance and trespass related to the release of PFOA, and requesting injunctive relief related to PFOA contamination.

Numerous carpet, textile and paper manufacturers, their alleged suppliers and former suppliers, including EIDP and Chemours, and certain municipal or utility defendants are also subject to several lawsuits in Georgia, Alabama and South Carolina, alleging negligence, nuisance and trespass related to the release of PFOA, and requesting injunctive relief related to PFOA contamination.

Fayetteville Works Facility, North Carolina

Prior to the separation of Chemours, EIDP introduced GenX as a polymerization processing aid and a replacement for PFOA at the Fayetteville Works facility in Bladen County, North Carolina.

The facility is now owned and operated by Chemours, which continues to manufacture and use GenX.

This Historical DuPont facility is now owned and operated by Chemours, which continues to manufacture and use GenX.

The current natural resources damage claims in North Carolina allege that direct discharges from this legacy facility are a source of PFOA contamination.

At December 31, 2025, several actions, including personal injury, are pending in the North Carolina federal court against Chemours and EIDP relating to PFC discharges from the Fayetteville Works facility.

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Another action is a consolidated action brought by various North Carolina water authorities, including the Cape Fear Public Utility Authority (“CFPUA”) and Brunswick County, that seek actual and punitive damages as well as injunctive relief.

In March 2023, CFPUA filed a Delaware Chancery Court action claiming the spin-off of Chemours and the Dow and Historical DuPont merger were unlawful and should be voided, so CFPUA is not precluded from recovering amounts its entitled in its pending litigation.

EIDP filed a motion to dismiss the Delaware Chancery Court action based upon failure to state a claim under Delaware law in June 2023, along with a counterclaim in October 2023.

CFPUA’s motion to stay the case was granted in January 2024.

EIDP and Chemours filed a motion for summary judgment on this consolidated action in March 2025.

Cumberland County, North Carolina, which is not part of the

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Notes to the Consolidated Financial Statements (continued)

In a state court action approximately 2,400 individual well owners near the Fayetteville Works facility seek compensatory and punitive damages for their claims of private nuisance, trespass, negligence, water monitoring and property damage allegedly caused by release of certain PFCs.

forgoing consolidation action or the Nationwide Water District Settlement, filed an action for alleged PFOA contamination to its groundwater sources used in drinking water and seeking recovery for costs associated with water filtration, monitoring, and compliance costs.

The pending mediation and trial for this matter are no longer scheduled.

EIDP filed a motion to dismiss the Delaware Chancery Court action based upon failure to state a claim under Delaware law in June 2023, along with a counterclaim in October 2023.

CFPUA’s motion to stay the case was granted in January 2024.

In a state court action approximately 2,400 private property owners near the Fayetteville Works facility seek compensatory and punitive damages for their claims of private nuisance, trespass, negligence, water monitoring and property damage allegedly caused by release of certain PFCs.

In addition, several personal injury cases have been filed in the North Carolina federal court alleging thyroid disease, and prostate, breast and kidney cancers as a result of PFAS exposure.

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As of December 31, 2025

(In millions) Indemnification Asset Accrual balance 3

Potential exposure above amount accrued 3

(In millions) Indemnification asset Accrual

Potential exposure above amount

Environmental Remediation Stray Liabilities

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Represents liabilities that are subject to the $ 150 million threshold and sharing agreements as discussed on page F-36, under the header "Chemours Separation Agreement (Performance Chemicals).

Chambers Works, New Jersey

On January 28, 2022, the State of New Jersey filed a request for a preliminary injunction against EIDP and Chemours seeking the establishment of a Remediation Funding Source (“RFS”) in an amount exceeding $ 900 million for environmental remediation at EIDP’s former Chambers Works facility in New Jersey.

The RFS primarily relates to non-PFAS remediation, which is not subject to the MOU.

Chemours has accepted indemnity and defense for these matters, while reserving rights and declining EIDP’s demand relating to the ISRA and fraudulent transfer matters as alleged under the existing New Jersey natural resource lawsuits discussed on page F-41.

Nebraska Department of Environment and Energy, AltEn Facility

The EPA and the Nebraska Department of Environment and Energy (“NDEE”) are pursuing investigations, response and removal actions, litigation and enforcement action related to an ethanol plant located near Mead, Nebraska and owned and operated by AltEn LLC (“AltEn”).

The agencies have alleged violations under the Resource Conservation and Recovery Act (“RCRA”) and other federal and state laws stemming from AltEn’s lack of compliance with the terms and conditions of its operating permits and other regulatory requirements.

Corteva is one of six seed companies, who were customers of AltEn

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

(collectively, the "Facility Response Group"), participating in the NDEE’s Voluntary Cleanup Program to address certain interim remediation needs at the site.

In February 2022, the Facility Response Group, filed a lawsuit in federal court against AltEn and certain of its affiliates to preserve certain contractual and common law indemnification claims.

operated by AltEn LLC (“AltEn”).

Corteva is one of six seed companies, who were customers of AltEn (collectively, the "Facility Response Group"), participating in the NDEE’s Voluntary Cleanup Program to address certain interim remediation needs at the site.

In March 2025, the Facility Response Group reached an agreement to settle its lawsuit against AltEn and certain of its affiliates to preserve certain contractual and common law indemnification claims.

The settlement agreement, among other things, limits AltEn’s ability to dispose of the property or take any adverse action with respect to its property or assets.

As of December 31, 2025, an accrual was established for Corteva’s estimated voluntary contribution to the solid waste and wastewater remedial action plans for the AltEn location.

California Department of Toxic Substances Control, Pittsburg Plant

The California Department of Toxic Substances Control (“DTSC”) has filed a state court lawsuit over challenging whether the Pittsburg plant’s high purity water system (“HPWS”), as operated by Dow and now Corteva, required a permit pursuant to the Federal Resource Conservation and Recovery Act (“RCRA”).

Discussions between the parties remain ongoing and further litigation, including discovery, is stayed.

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Shares of common stock Issued

Balance December 31, 2021 726,527,000

Balance at December 31, 2022 713,419,000

Issued 1,965,000

Repurchased and retired ( 14,124,000 )

Balance December 31, 2022 713,419,000

Balance at December 31, 2023 701,260,000

Issued 2,244,000

Repurchased and retired ( 17,909,000 )

Balance December 31, 2023 701,260,000

Balance at December 31, 2024 685,595,000

Issued 2,701,000

Repurchased and retired ( 16,133,000 )

Balance December 31, 2024 685,595,000

Balance at December 31, 2025 672,163,000

Share Buyback Plan

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The timing, price and volume of purchases will be based on market conditions, relevant securities laws and other factors.

In connection with the 2024 Share Buyback Plan, the company repurchased and retired 8,318,000 shares in the open market for a cost (excluding excise taxes) of $ 571 million during the year ended December 31, 2025.

On September 13, 2022, Corteva, Inc.

announced that its Board of Directors authorized a $ 2 billion share repurchase program to purchase Corteva, Inc.'s common stock, par value $ 0.01 per share, without an expiration date ("2022 Share Buyback Plan").

The timing, price and volume of purchases will be based on market conditions, relevant securities laws and other factors.

In connection with the 2022 Share Buyback Plan, the company repurchased and retired 17,909,000 and 10,026,000 shares in the open market and through privately-negotiated transactions for a cost (excluding excise taxes) of $ 1 billion and $ 500 million during the year ended December 31, 2024 and 2023, respectively.

Included within the shares repurchased during the year ended December 31, 2024 were $ 125 million of shares from the master trust fund of the principal U.S.

The company completed the 2022 Share Buyback Plan during the second quarter of 2025 and repurchased and retired 7,815,000 , 17,909,000 and 10,026,000 shares in the open market and through privately-negotiated transactions for a cost (excluding excise taxes) of $ 500 million, $ 1 billion and $ 500 million during the years ended December 31, 2025, 2024 and 2023, respectively.

Included within the shares repurchased during the years ended December 31, 2025 and 2024 were $ 145 million and $ 125 million, respectively, of shares from the master trust fund of the principal U.S.

pension plan, as part of the Pension Investment Committee's periodic portfolio rebalancing process.

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The company completed the 2021 Share Buyback Plan during the first quarter of 2023 and repurchased and retired 4,098,000 , 17,425,000 and 5,572,000 shares in the open market for a total cost of $ 250 million, $ 1 billion and $ 250 million during the years ended December 31, 2023, 2022 and 2021, respectively.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Shares repurchased pursuant to Corteva's share buyback plans are immediately retired upon repurchase.

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When Corteva has retained earnings, the excess is charged entirely to retained earnings.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Noncontrolling Interest

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Derivative Instruments Pension Benefit Plans Other Benefit Plans Unrealized Gain (Loss) on Investments Total

Balance January 1, 2022 $ ( 2,543 ) $ 72 $ ( 396 ) $ ( 31 ) $ — $ ( 2,898 )

Balance at January 1, 2023 $ ( 2,883 ) $ 80 $ ( 163 ) $ 160 $ — $ ( 2,806 )

Other comprehensive income (loss) before reclassifications 425 ( 123 ) ( 188 ) 38 — 152

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Net other comprehensive income (loss) $ 425 $ ( 135 ) $ ( 190 ) $ 29 $ — $ 129

Balance December 31, 2022 $ ( 2,883 ) $ 80 $ ( 163 ) $ 160 $ — $ ( 2,806 )

Balance at December 31, 2023 $ ( 2,458 ) $ ( 55 ) $ ( 353 ) $ 189 $ — $ ( 2,677 )

Other comprehensive income (loss) before reclassifications ( 1,014 ) 27 127 40 ( 6 ) ( 826 )

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Net other comprehensive income (loss) $ ( 1,014 ) $ 71 $ 127 $ 30 $ ( 6 ) $ ( 792 )

Balance December 31, 2023 $ ( 2,458 ) $ ( 55 ) $ ( 353 ) $ 189 $ — $ ( 2,677 )

Balance at December 31, 2024 $ ( 3,472 ) $ 16 $ ( 226 ) $ 219 $ ( 6 ) $ ( 3,469 )

Other comprehensive income (loss) before reclassifications 867 ( 65 ) ( 149 ) ( 12 ) 6 647

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Net other comprehensive income (loss) $ 867 $ ( 23 ) $ ( 152 ) $ ( 26 ) $ 6 $ 672

Balance December 31, 2024 $ ( 3,472 ) $ 16 $ ( 226 ) $ 219 $ ( 6 ) $ ( 3,469 )

The cumulative translation adjustment losses for the year ended December 31, 2024 was primarily driven by the strengthening of the U.S.

Dollar ("USD") against the Brazilian Real ("BRL"), Euro ("EUR"), Swiss Franc ("CHF") and Mexican Peso ("MXN").

The cumulative translation adjustment gains for the year ended December 31, 2023 was primarily driven by the weakening of the U.S.

Dollar ("USD") against the Swiss Franc ("CHF"), Brazilian Real ("BRL") and Euro ("EUR").

The cumulative translation adjustment losses for the year ended December 31, 2022 was primarily driven by the strengthening of the U.S.

dollar ("USD") against the Euro ("EUR"), Indian Rupee ("INR"), South African Rand ("ZAR") and Philippine Peso ("PHP).

Balance at December 31, 2025 $ ( 2,605 ) $ ( 7 ) $ ( 378 ) $ 193 $ — $ ( 2,797 )

The cumulative translation adjustment gain for the year ended December 31, 2025 was primarily driven by the weakening of the U.S.

Dollar ("USD") against the Euro ("EUR"), Brazilian Real ("BRL"), South African Rand (“ZAR”) and Mexican Peso ("MXN").

The cumulative translation adjustment loss for the year ended December 31, 2024 was primarily driven by the strengthening of the U.S.

Dollar against the Brazilian Real, Euro, Swiss Franc ("CHF") and Mexican Peso.

The cumulative translation adjustment gain for the year ended December 31, 2023 was primarily driven by the weakening of the U.S.

Dollar against the Swiss Franc, Brazilian Real and Euro.

Corteva, Inc.

32 unchanged sentences

After-tax $ ( 14 ) $ ( 10 ) $ ( 9 )

Unrealized (gain) loss on investments 4

Tax (benefit) expense 2

Total reclassifications for the period, after-tax $ 25 $ 34 $ ( 23 )

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As a result, no participants are currently accruing additional benefits in the pension plan.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

The company's funding policy is consistent with the funding requirements of federal laws and regulations.

Pension coverage for employees of the company's non-U.S.

consolidated subsidiaries is provided, to the extent deemed appropriate, through separate plans.

consolidated subsidiaries is provided, to the extent deemed appropriate, through separate

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Obligations under such plans are funded by depositing funds with trustees, covered by insurance contracts, or remain unfunded.

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pension plan in 2026.

The company does not anticipate making contributions to its principal U.S.

In planning for the Proposed Separation, including the future capital structures of the two new companies, the company expects to evaluate discretionary contributions to its principal U.S.

pension plan in 2026.

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Discount rate 5.31 % 5.59 %

5.59 % 4.97 %

Rate of increase in future compensation levels 1

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Discount rate 5.59 % 4.97 % 5.17 %

4.97 % 5.17 % 3.33 %

Rate of increase in future compensation levels 1

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Expected long-term rate of return on plan assets 4.56 % 4.57 % 4.55 %

4.57 % 4.55 % 4.51 %

The rate of compensation increase excludes U.S.

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In December 2020, the company amended its retiree medical, dental and life insurance plans to no longer provide retiree dental and life insurance benefits effective January 1, 2022 and to cap Corteva’s portion of the cost of non-Medicare retiree medical coverage to the level in effect as of December 31, 2021 ("2020 OPEB Plan Amendments").

As a result of these changes, the company recorded a $ 939 million decrease in other post-employment benefits ("OPEB") benefit obligations as of December 31, 2020 with a corresponding prior service benefit within other comprehensive income for the year ended December 31, 2020.

A substantial amount of the prior service benefit within other comprehensive income (loss) in 2020 was recognized in other income (expense) - net in the Consolidated Statement of Operations during 2021 with the remainder recognized during 2022.

The company also provides disability benefits to employees.

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Discount rate 5.14 % 5.50 %

5.50 % 4.92 %

Corteva, Inc.

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As of December 31, 2025, 2024 and 2023, health care cost trend rates do not impact the benefit obligations for the OPEB plans because of the 2020 OPEB Plan Amendments.

plan, the company determines the expected long-term rate of return on plan assets by performing a detailed analysis of key economic and market factors driving historical returns for each asset class and formulating a projected return based on factors in the current environment.

Factors considered include, but are not limited to, inflation, real economic growth, interest rate yield, interest rate spreads, and other valuation measures and market metrics.

The expected long-term rate of return for each asset class is then weighted based on the strategic asset allocation approved by the governing body for the plan.

The company's historical experience with the pension fund asset performance is also considered.

plan, the company establishes strategic asset allocation percentage targets and appropriate benchmarks for significant asset classes with the aim of achieving a prudent balance between return and risk.

Where appropriate, asset-liability studies are also taken into consideration.

The expected long-term rate of return on plan assets is based upon historical real returns (net of inflation) for the asset classes covered by the investment policy, expected performance, and projections of inflation and interest rates over the long-term period during which benefits are payable to plan participants.

plans, assumptions reflect economic assumptions applicable to each country.

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Plan amendments 1 — — ( 1 )

— ( 257 ) — —

New plans/merger 1 — — —

Effect of foreign exchange rates 37 ( 63 ) 1 ( 1 )

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Benefits paid ( 1,228 ) ( 1,241 ) ( 112 ) ( 120 )

— ( 257 ) — —

Effect of foreign exchange rates 27 ( 52 ) — 1

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Funded status at end of the period $ ( 1,782 ) $ ( 1,592 ) $ ( 772 ) $ ( 812 )

Primarily r elates to transfers of certain benefit obligations and related assets associated with the principal U.S.

pension plan to an insurance company through the purchase of nonparticipating group annuity contracts.

As of December 31, 2025 and 2024, $ 112 million and $ 131 million, respectively, of the benefit obligations are supported by funding under the Trust agreement, defined in the "Trust Assets" section below.

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Net amount recognized $ ( 1,782 ) $ ( 1,592 ) $ ( 772 ) $ ( 812 )

Pretax amounts recognized in accumulated other comprehensive income (loss):

Pre-tax amounts recognized in accumulated other comprehensive income (loss):

Net gain (loss) $ ( 518 ) $ ( 320 ) $ 244 $ 276

Prior service benefit (cost) 14 17 13 14

Pretax balance in accumulated other comprehensive income (loss) at end of year $ ( 303 ) $ ( 465 ) $ 290 $ 252

Pre-tax balance in accumulated other comprehensive income (loss) at end of year $ ( 504 ) $ ( 303 ) $ 257 $ 290

The loss related to the change in pension benefit obligations for the period ended December 31, 2025 is primarily due to the decrease in discount rates, net of asset returns above the expected long-term rate.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

The gain related to the change in pension and OPEB plan benefit obligations for the period ended December 31, 2024 is primarily due to the increase in the discount rate.

The accumulated benefit obligation for all pension plans was $ 12.0 billion and $ 12.2 billion at December 31, 2025 and 2024, respectively.

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Amortization of prior service (benefit) cost ( 4 ) ( 4 ) ( 3 ) ( 1 ) ( 1 ) ( 2 )

Curtailment (gain) loss — — — — — —

Settlement loss — 2 — — — —

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Amortization of prior service (benefit) cost ( 4 ) ( 4 ) ( 3 ) ( 1 ) ( 1 ) ( 2 )

Curtailment (gain) loss — — — — — —

Settlement loss — 2 — — — —

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Total recognized in net periodic benefit (credit) cost and other comprehensive income (loss) $ ( 217 ) $ 30 $ ( 350 ) $ ( 55 ) $ 10 $ —

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Estimated Future Benefit Payments

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Total $ 10,267 $ 719

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

All pension plan assets in the U.S.

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Additionally, pension trust funds are permitted to enter into certain contractual arrangements generally described as "derivatives." Derivatives are primarily used to reduce specific market risks, hedge currency and adjust portfolio duration and asset allocation in a cost-effective manner.

The weighted-average target allocation for plan assets of the company's pension plans is summarized as follows:

Target Allocation for Plan Assets December 31, 2024 December 31, 2023

The weighted-average allocation for plan assets of the company's pension plans is summarized as follows:

Allocation for Plan Assets December 31, 2025 December 31, 2024

Asset Category

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For pension plan assets classified as Level 1 measurements (measured using quoted prices in active markets), total fair value is either the price of the most recent trade at the time of the market close or the official close price, as defined by the exchange on which the asset is most actively traded on the last trading day of the period, multiplied by the number of units held without consideration of transaction costs.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

For pension plan assets classified as Level 2 measurements, where the security is frequently traded in less active markets, fair value is based on the closing price at the end of the period;

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For pension plan assets classified as Level 3 measurements, total fair value is based on significant unobservable inputs including assumptions where there is little, if any, market activity for the investment.

Investment managers, fund managers, or investment contract issuers provide valuations of the investment on a monthly or quarterly basis.

Investment managers, fund managers, or

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

investment contract issuers provide valuations of the investment on a monthly or quarterly basis.

These valuations are reviewed for reasonableness based on applicable sector, benchmark and company performance.

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Where available, audited financial statements are obtained and reviewed for the investments as support for the manager’s investment valuation.

The tables below present the fair values of the company's pension assets by level within the fair value hierarchy, as described in Note 2 - Summary of Significant Accounting Policies:

The tables below present the fair values of the company's pension assets by level within the fair value hierarchy, as described in Note 2 - Summary of Significant Accounting Policies, in the Consolidated Financial Statements:

Basis of Fair Value Measurements Total Level 1 Level 2 Level 3

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equity securities 1

1,030 1,026 1 3

equity securities 417 417 — —

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Total $ 10,275

The Corteva pension plans directly held $ 132 million (approximately 1 percent of total plan assets) of Corteva, Inc.

The Corteva pension plans directly held no Corteva, Inc.

common stock at December 31, 2025.

Primarily receivables for investments securities sold.

Primarily receivables for investment securities sold.

Primarily payables for investment securities purchased.

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equity securities Non-U.S.

equity securities Debt – corporate-issued Hedge funds Private market securities Real estate Other Total

equity securities Debt – corporate-issued Hedge funds Private market securities Real estate funds Other Total

(In millions)

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Under the Trust agreement, the consummation of the Merger was a change in control event and resulted in a contribution to the Trust by EIDP.

Additionally, the Separation resulted in Corteva transferring a portion of the balance of the Trust to DuPont at the Separation date.

Additionally, the Corteva Separation resulted in Corteva transferring a portion of the balance of the Trust to DuPont at the Corteva Separation date.

During the years ended December 31, 2025 and 2024, $ 37 million and $ 48 million, respectively, was distributed by EIDP according to the Trust agreement, and at December 31, 2025 and 2024, the balance in the Trust was $ 147 million and $ 176 million, respectively.

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NOTE 18 - STOCK-BASED COMPENSATION

Prior to the Corteva Distribution, Corteva employees held equity awards, including stock options, share appreciation rights (“SARs”), restricted stock units (“RSUs”) and performance-based restricted stock units (“PSUs”), which were denominated in DowDuPont common stock and, in some cases, in Dow Inc.

Prior to the Corteva Separation, Corteva employees held equity awards, including stock options, share appreciation rights (“SARs”), restricted stock units (“RSUs”) and performance-based restricted stock units (“PSUs”), which were denominated in DowDuPont common stock and, in some cases, in Dow Inc.

common stock, and which had originally been issued under the DuPont Equity and Incentive Plan ("EIP"), the Dow Chemical Company 2012 Stock Incentive Plan or the Dow Chemical Company 1988 Award and Option Plan.

As discussed in Note 16 - Commitments and Contingent Liabilities, on April 1, 2019 the company entered into an employee matters agreement (the "EMA") with DuPont and Dow that identifies employees and employee-related liabilities (and attributable assets) to be allocated (either retained, transferred and accepted, or assigned and assumed, as applicable) to the Parties as part of the Distributions and describes when and how the relevant transfers and assignments will occur.

As discussed in Note 15 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements, on April 1, 2019 the company entered into an Employee Matters Agreement (the "EMA") with DuPont and Dow that identifies employees and employee-related liabilities (and attributable assets) to be allocated (either retained, transferred and accepted, or assigned and assumed, as applicable) to the Parties as part of the Distributions and describes when and how the relevant transfers and assignments were to occur.

With some exceptions, the EMA provides for the equitable adjustment of existing equity incentive compensation awards denominated in the common stock of DowDuPont to reflect the occurrence of the Distributions.

In connection with the Separation on June 1, 2019, outstanding DowDuPont-denominated stock options, SARs, RSU and PSU awards were converted into Corteva-denominated awards under the “Employer Method,” or into both DuPont-denominated awards and Corteva-denominated awards under the “Shareholder Method,” using a formula designed to preserve the intrinsic value of the awards immediately prior to and subsequent to the Corteva Separation.

The awards have the same terms and conditions under the applicable plans and award agreements prior to the Separation transactions.

The conversions of equity awards did not have a material impact to the company’s consolidated financial statements.

On June 1, 2019 (“Adoption Date”), in connection with the Separation, the Omnibus Incentive Plan (the "OIP") became effective.

Under the OIP, the company may grant incentive awards, including stock options (both “incentive stock options” and nonqualified stock options), share appreciation rights, restricted shares, restricted stock units, other share-based awards and cash awards, to its and its subsidiaries’ eligible employees, non-employee directors, independent contractors and consultants following the Separation until the tenth anniversary of the Adoption Date, subject to an aggregate limit and annual individual limits.

Under the OIP, the maximum number of shares reserved for the grant or settlement of awards is 20 million shares, excluding shares underlying certain exempt awards, such as the awards converted to Corteva-denominated awards pursuant to the Separation.

In connection with the Corteva Separation on June 1, 2019, outstanding DowDuPont-denominated stock options, SARs, RSU and PSU awards were converted into Corteva-denominated awards under the “Employer Method,” or into both DuPont-denominated awards and Corteva-denominated awards under the “Shareholder Method,” using a formula designed to preserve the intrinsic value of the awards immediately prior to and subsequent to the Corteva Separation.

The awards have the same terms and conditions under the applicable plans and award agreements prior to the Corteva Separation transactions.

The conversions of equity awards did not have a material impact on the company’s Consolidated Financial Statements.

On June 1, 2019 (“Adoption Date”), in connection with the Corteva Separation, the Omnibus Incentive Plan (the "OIP") became effective.

Under the OIP, the company may grant incentive awards, including stock options (both “incentive stock options” and nonqualified stock options), share appreciation rights, restricted shares, restricted stock units, other share-based awards and cash awards, to its and its subsidiaries’ eligible employees, non-employee directors, independent contractors and consultants following the Corteva Separation until the tenth anniversary of the Adoption Date, subject to an aggregate limit and annual individual limits.

At December 31, 2025, approximately 8 million shares were authorized for future grants under the OIP.

The company generally satisfies stock option exercises and the vesting of RSUs and PSUs with newly issued shares of Corteva common stock, although RSU awards granted under Historical Dow plans in certain countries are settled in cash.

The compensation committee determines the long-term incentive mix, including stock options, RSUs and PSUs and may authorize new grants annually.

The Board of Directors' Compensation Committee determines the long-term incentive mix, including stock options, RSUs and PSUs and may authorize new grants annually.

The company estimates expected forfeitures.

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All options vest serially over a period of three years .

Stock option awards granted under the OIP between June 2019 and 2023 expire 10 years after the grant date.

Stock option awards granted under the EIP (previous plan) between 2016 and May 2019 expire 10 years after the grant date.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

To measure the fair value of the awards on the date of grant, the company used the Black-Scholes option pricing model and the assumptions set forth in the below table.

Stock option awards granted under the EIP (previous plan) between 2016 and May 2019 and the OIP between June 2019 and December 31, 2025 expire 10 years after the grant date.

To measure the fair value of the awards on the date of grant, the company uses the Black-Scholes option pricing model and the assumptions set forth in the table below.

The weighted-average grant-date fair value of options granted for the years ended December 31, 2025, 2024 and 2023 was $ 23.83 , $ 18.80 and $ 21.42 , respectively.

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Expected life of stock options granted during period (years) 6.0 6.0 6.0

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

The company determined the dividend yield by dividing the annualized dividend on Corteva’s common stock by the option exercise price.

A historical daily measurement of volatility is determined based on the expected life of the option granted.

For the year ended December 31, 2025, the measurement of volatility is based on the historical volatility of Corteva.

For the years ended December 31, 2024, and 2023, the measurement of volatility is based on the average volatility of eight of Corteva's peer companies.

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Expected life is determined by utilizing the simplified method for estimating expected term.

The following table summarizes stock option activity for year ended December 31, 2024:

The following table summarizes stock option activity for the year ended December 31, 2025:

Stock Options For the Year Ended December 31, 2025

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Restricted Stock Units and Performance Share Units

RSUs granted serially vest over 3 years.

RSUs granted serially vest over three years .

Upon vesting, these RSUs convert one -for-one to Corteva Common Stock.

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Additional RSUs are also granted periodically to key senior management employees.

These RSUs generally vest over periods ranging from 3 years to 5 years.

These RSUs generally vest over periods ranging from three years to five years .

The fair value of all stock-settled RSUs is based upon the market price of the underlying common stock as of the grant date.

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Vesting for PSUs granted in 2025, 2024 and 2023 is partially based on the realization of the company’s improvement of its Return on Net Assets (“RONA”) and Operating Earnings Per Share ("EPS") during the Performance Period.

Vesting for PSUs granted in 2021 is partially based on the realization of the Company’s improvement of its Return on Invested Capital (“ROIC”) and Operating EPS during the Performance Period.

Performance and payouts are determined independently for each metric.

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NOTE 19 - FINANCIAL INSTRUMENTS

At December 31, 2024 and 2023, the company had $ 2,179 million and $ 1,746 million, respectively, of held-to-maturity securities (primarily time deposits and money market funds) classified as cash equivalents in the Consolidated Balance Sheets, as these securities had maturities of three months or less at the time of purchase;

$ 63 million and $ 98 million at December 31, 2024 and 2023, respectively, of held-to-maturity securities (primarily time deposits and foreign government bonds) classified as marketable securities in the Consolidated Balance Sheets, as these securities had maturities of more than three months to less than one year at the time of purchase;

and $ 55 million at December 31, 2023, of held-to-maturity securities (primarily foreign government bonds) classified as marketable securities and included in other assets in the Consolidated Balance Sheets, as these securities had maturities of more than one year at the time of purchase.

The company’s investments in held-to-maturity securities are held at amortized cost, which approximates fair value.

Additionally, at December 31, 2024, the company had $ 97 million of available-for-sale securities (primarily foreign government bonds) classified as other assets in the Consolidated Balance Sheet, as these securities had maturities of more than one year at the time of purchase.

The company’s held-to-maturity securities relating to investments in foreign government bonds at December 31, 2024 and 2023 are discussed further in the “Debt Securities” section.

Time Deposits and Money Market Funds

At December 31, 2025 and 2024, the company held investments in held-to-maturity securities at amortized cost, which approximates fair value.

At these periods, the company held additional held-to-maturity securities, as well as available-for-sale securities, consisting of investments in foreign government bonds which are discussed further in the "Debt Securities" section.

Reclassifications of prior year held-to-maturity balances have been made in the current year to disaggregate between those that are time deposits and foreign government bonds.

The following table summarizes investments in time deposits and money market funds classified as held-to-maturity securities at December 31, 2025 and 2024:

Held-to-Maturity Securities Amortized Cost

(in millions)

Balance Sheet Location December 31, 2025 December 31, 2024

Time deposits and money market funds Cash equivalents 1

$ 3,431 $ 2,179

Time deposits Marketable securities 2

Maturity at time of purchase was three months or less.

Maturity at time of purchase was more than three months to less than one year.

Derivative Instruments

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The aggregate notional amounts for the company's derivative instruments that are designated and not designated as hedging instruments was a net buy (sell) position of $ 1,280 million and $( 1,056 ) million at December 31, 2025 and 2024, respectively.

Foreign Currency Risk

The company's objective in managing exposure to foreign currency fluctuations is to reduce earnings and cash flow volatility associated with foreign currency rate changes and to mitigate the exposure of certain investments in foreign subsidiaries against

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Foreign Currency Risk

changes in the Euro/USD exchange rate.

Accordingly, the company enters into various contracts that change in value as foreign exchange rates change to protect the value of its existing foreign currency-denominated assets, liabilities, commitments, investments and cash flows.

Accordingly, the company enters into various contracts that change in value as foreign

exchange rates change to protect the value of its existing foreign currency-denominated assets, liabilities, commitments, investments and cash flows.

The company uses foreign currency exchange contracts to offset its net exposures, by currency, related to the foreign currency denominated monetary assets and liabilities of its operations.

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Ending balance $ 9 $ ( 49 ) $ ( 71 )

At December 31, 2024, an after-tax net loss of $ 45 million is expected to be reclassified from accumulated other comprehensive income (loss) into earnings over the next twelve months.

At December 31, 2025, an after-tax net gain of $ 19 million is expected to be reclassified from accumulated other comprehensive income (loss) into earnings over the next twelve months.

Foreign Currency Contracts

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Reclassifications are made sooner if it appears that a forecasted transaction is not probable of occurring.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

The following table summarizes the after-tax effect of foreign currency cash flow hedges on accumulated other comprehensive

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Ending balance $ 5 $ 13 $ 1

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

At December 31, 2025, an after-tax net gain of $ 5 million is expected to be reclassified from accumulated other comprehensive income (loss) into earnings over the next twelve months.

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Foreign Currency Contracts

In March 2025, the company designated € 1.7 billion of forward contracts to exchange Euro as net investment hedges.

Of these hedges, € 1.2 billion expired and were settled in May 2025, while the remaining € 500 million expired and were settled in December 2025.

The purpose of these forward contracts was to mitigate foreign exchange exposure related to a portion of the company’s Euro net investments in certain foreign subsidiaries against changes in EUR/USD exchange rates.

In May 2024, the company designated € 500 million of forward contracts to exchange Euro as net investment hedges.

An additional tranche of € 500 million of forward contracts to exchange Euro were executed in July 2024 and also designated as net investment hedges.

The purpose of these forward contracts is to mitigate foreign exchange exposure related to a portion of the company’s Euro net investments in certain foreign subsidiaries against changes in Euro/USD exchange rates.

These hedges expired and were settled in December 2024.

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Counterparties to the forward sales agreements are multinational grain exporters and subject to the company’s financial risk management procedures.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Fair Value of Derivative Instruments

Asset and liability derivatives subject to an enforceable master netting arrangement with the same counterparty are presented on a net basis in the Consolidated Balance Sheets.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

The presentation of the company's derivative assets and liabilities is as follows:

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$ 50 $ ( 21 ) $ 29

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

December 31, 2024

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Total derivatives designated as hedging instruments

( 66 ) ( 65 ) 8

Derivatives not designated as hedging instruments:

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Debt Securities

The company’s debt securities include foreign government bonds classified as held-to-maturity securities at December 31, 2024 and 2023, and available-for-sale securities at December 31, 2024.

The company’s investments in held-to-maturity securities are held at amortized cost, which approximates fair value, and are held by certain foreign subsidiaries in which the USD is the functional currency.

The company's investments in debt securities classified as held-to-maturity at December 31, 2024 with a contractual maturity within one year was $ 55 million.

The company’s investments in debt securities classified as available-for-sale are recorded at fair value with unrealized gains and losses recorded in accumulated other comprehensive income (loss), within the Consolidated Statements of Equity, or current period earnings if an allowance for credit losses has been established, within the Consolidated Statements of Operations.

The debt securities classified as available-for-sale at December 31, 2024 with a contractual maturity of one to five years had an amortized cost of $ 103 million, gross unrealized gains (losses) of $( 6 ) million and a fair value of $ 97 million.

The estimated fair value of the available-for-sale securities as of December 31, 2024 was determined using Level 2 inputs within the fair value hierarchy.

Level 2 measurements were based on the closing price at the end of the period quoted market prices in active markets for identical assets and liabilities.

At December 31, 2025 and 2024, the company held investments in held-to-maturity debt securities consisting of foreign government bonds.

The company's investments in held-to-maturity securities are held at amortized cost, which approximates fair value.

These foreign government bonds are held by certain foreign subsidiaries in which the USD is the functional currency.

Held-to-Maturity Securities Amortized Cost

(in millions) Balance Sheet Location December 31, 2025 December 31, 2024

Foreign government bonds Marketable securities 1

Maturity at time of purchase was more than three months to less than one year.

The company also held debt securities, which consisted of foreign government bonds classified as available-for-sale securities, at December 31, 2025 and 2024.

The company's investments in available-for-sale securities are recorded at fair value with unrealized gains and losses recorded in accumulated other comprehensive income (loss), within the Consolidated Statements of Equity, or current period earnings if an allowance for credit losses has been established, within the Consolidated Statements of Operations.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Available-for-Sale Securities Fair Value

(in millions) Balance Sheet Location December 31, 2025 December 31, 2024

Foreign government bonds Marketable securities 1

Foreign government bonds Other assets 2

Maturity at time of purchase was more than three months to less than one year.

Maturity at time of purchase was more than one year.

At December 31, 2025, available for sale debt securities with a contractual maturities of less than one year and of one to five years included gross unrealized gains (losses) of $ — million and $ — million, respectively.

The estimated fair value of the available-for-sale securities as of December 31, 2025 and 2024 was determined using Level 2 inputs within the fair value hierarchy.

Level 2 measurements were based on the closing price at the end of the period quoted market prices in active markets for identical assets and liabilities.

NOTE 20 - FAIR VALUE MEASUREMENTS

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Market inputs are obtained from well-established and recognized vendors of market data and subjected to tolerance/quality checks.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

For all other assets and liabilities for which observable inputs are used, fair value is derived through the use of fair value models, such as a discounted cash flow model or other standard pricing models.

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Given the short-term nature of the underlying receivables, discount rate and prepayments are not factors in determining the fair value of the interests.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Fair Value Measurements on a Nonrecurring Basis

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Total $ 4,220 $ 4,099 $ 4,287

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

NOTE 22 - SEGMENT INFORMATION

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The CODM also utilizes segment operating EBITDA when evaluating the impacts of market-driven trends on segment performance, such as input costs and inflationary and currency impacts.

The company defines segment operating EBITDA as earnings (loss) (i.e., income (loss) from continuing operations before income taxes) before interest, depreciation, amortization, corporate expenses, non-operating (benefits) costs, foreign exchange gains (losses), and net unrealized gain or loss from mark-to-market activity for certain foreign currency derivative instruments that do not qualify for hedge accounting, excluding the impact of significant items.

Non-operating (benefits) costs consists of non-operating pension and other post-employment benefit (OPEB) credits (costs), tax indemnification adjustments and environmental remediation and legal costs associated with legacy businesses and sites.

Tax indemnification adjustments relate

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

to changes in indemnification balances, as a result of the application of the terms of the Tax Matters Agreement, between Corteva and Dow and/or DuPont that are recorded by the company as pre-tax income or expense.

Tax indemnification adjustments relate to changes in indemnification balances, as a result of the application of the terms of the Tax Matters Agreement, between Corteva and Dow and/or DuPont that are recorded by the company as pre-tax income or expense.

Net unrealized gain or loss from mark-to-market activity for certain foreign currency derivative instruments that do not qualify for hedge accounting represents the non-cash net gain (loss) from changes in fair value of certain undesignated foreign currency derivative contracts.

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The company conducts its global operations through the following reportable segments:

The company’s Seed segment is a global leader in developing and supplying advanced germplasm and traits that produce optimum yield for farms around the world.

The segment is a leader in many of the company’s key seed markets, including North America corn and soybeans, Europe corn and sunflower, as well as Brazil, India, South Africa and Argentina corn.

The segment offers trait technologies that improve resistance to weather, disease, insects and enhance food and nutritional characteristics, herbicides used to control weeds, and digital solutions that assist farmer decision-making to help maximize yield and profitability.

The company's Seed segment is a global leader in developing and supplying commercial seed combining advanced germplasm and traits that offer maximum yield potential for farmers around the world.

The segment is a leader in many key seed markets, including North America corn and soybeans, Europe corn and sunflower, as well as Brazil, India, South Africa and Argentina corn.

The company offers seed and trait technologies that boost resilience to weather, pests, diseases, and herbicides used to manage weeds.

Its digital solutions provide data-driven insights to help farmers optimize yield and profitability.

Crop Protection

The Crop Protection segment serves the global agricultural input industry with products that protect against weeds, insects and other pests, and disease, and that improve overall crop health both above and below ground via nitrogen management and seed-applied technologies.

The segment offers crop protection solutions and digital solutions that provide farmers the tools they need to improve productivity and profitability, and help keep fields free of weeds, insects and diseases.

The segment is a leader in global herbicides, insecticides, nitrogen stabilizers, pasture and range management herbicides and biologicals.

The Crop Protection segment serves the global agricultural input industry with products that protect against weeds, insects and other pests, and disease, and that support overall crop health both above and below ground via nitrogen management and seed-applied technologies.

The segment offers crop protection solutions and digital solutions that provide farmers tools to improve productivity and profitability, and help keep fields free of weeds, insects and diseases.

The segment is a leader in global herbicides, insecticides, nitrogen stabilizers, pasture and range management herbicides and biologicals and other nature-based products.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

(In millions)

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Depreciation and amortization 780 423 1,203

Segment assets 21,246 14,241 35,487

Investments in nonconsolidated affiliates 57 77 134

Purchases of property, plant and equipment 377 214 591

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Depreciation and amortization 805 422 1,227

Segment assets 22,732 15,004 37,736

Investments in nonconsolidated affiliates 39 76 115

Purchases of property, plant and equipment 365 232 597

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Depreciation and amortization 814 397 1,211

Segment assets 22,952 14,097 37,049

Investments in nonconsolidated affiliates 35 67 102

Purchases of property, plant and equipment 332 263 595

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Reconciliation of Segment Profitability

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Segment operating EBITDA $ 2,117 $ 1,374 $ 3,491

Other expenses consisted primarily of selling, general and administrative expenses and research and development expense, net of depreciation add-back.

Other expenses consist primarily of selling, general and administrative expenses and research and development expense, net of depreciation add-back.

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Reconciliation to Consolidated Financial Statements

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Significant items 658 315 579

Separation costs 35 — —

Corporate expenses 138 115 110

Segment operating EBITDA $ 3,986 $ 3,491 $ 3,491

Segment assets to total assets (in millions)

December 31, 2024 December 31, 2023

Total segment assets $ 35,487 $ 37,736

Corporate assets 5,338 5,260

Total assets $ 40,825 $ 42,996

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Significant Pre-tax (Charges) Benefits Not Included in Segment Operating EBITDA

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$ ( 4 ) $ ( 135 ) $ ( 7 ) $ ( 146 )

Estimated settlement expense 2

Bayer resolution 2

( 610 ) — — ( 610 )

Inventory write-offs 3

Gain (loss) on sale of business, assets and equity investments 3,4

Acquisition-related costs 6

AltEn facility remediation charges 5

( 37 ) — — ( 37 )

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$ ( 55 ) $ ( 142 ) $ ( 91 ) $ ( 288 )

Estimated settlement expense 2

— ( 204 ) — ( 204 )

Gain (loss) on sale of business, assets and equity investments 4

Inventory write-offs 4

( 7 ) — — ( 7 )

Spare parts write-off 4

Insurance proceeds 6

Estimated settlement expense 7

— ( 101 ) — ( 101 )

Gain (loss) on sale of business, assets and equity investments 3

Employee Retention Credit — 3 — 3

AltEn facility remediation charges ( 10 ) — — ( 10 )

Seed sale associated with Russia Exit 3,5

Acquisition-related costs 8

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Total $ ( 49 ) $ ( 175 ) $ ( 91 ) $ ( 315 )

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

(In millions) Seed Crop Protection Corporate Total

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$ ( 86 ) $ ( 228 ) $ ( 22 ) $ ( 336 )

Estimated settlement expense 2

— ( 87 ) — ( 87 )

Gain (loss) on sale of business, assets and equity investments 4

Inventory write-offs 4

( 7 ) — — ( 7 )

Gain (loss) on sale of business, assets and equity investments 3

Spare parts write-off 3

— ( 12 ) — ( 12 )

Settlement costs associated with Russia Exit 3

Estimated settlement expense 7

— ( 204 ) — ( 204 )

Employee Retention Credit 6 3 — 9

Acquisition-related costs 8

— ( 45 ) — ( 45 )

AltEn facility remediation charges 5

( 10 ) — — ( 10 )

Employee Retention Credit — 3 — 3

Seed sale associated with Russia Exit 4,9

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See Note 5 - Restructuring and Asset Related Charges - Net, to the Consolidated Financial Statements, for additional information.

Consists of estimated Lorsban® related charges.

Consists of a charge relating to the resolution of litigation with Bayer.

See Note 15 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements, for additional information.

Incremental gains (losses) associated with activities related to the Crop Protection Operations Strategy Restructuring Program.

Within gain (loss) on sale of business, assets and equity investments, a $ 23 million benefit was recorded for the year ended December 31, 2025.

Incremental gains (losses) associated with activities related to the 2022 Restructuring Actions.

Incremental loss associated with activities related to the Crop Protection Operations Strategy Restructuring Program.

Includes a benefit of $ 18 million and $ 3 million for the years ended December 31, 2023 and 2022, respectively, relating to the sale of seeds already under production in Russia when the decision to exit the country was made and that the Company was contractually required to purchase.

It consists of $ 71 million and $ 8 million of net sales and $ 53 million and $ 5 million of cost of goods sold for the years ended December 31, 2023 and 2022, respectively.

Relates to acquisition-related costs, including transaction and third-party integration costs associated with the completed acquisitions of Stoller and Symborg as well as the recognition of the inventory fair value step-up.

See Note 4 - Business Combinations, to the Consolidated Financial Statements, for additional information.

Within gain (loss) on sale of business, assets and equity investments, such benefits are $ 14 million, $ 7 million and $ 14 million for the years ended December 31, 2025, 2024 and 2023, respectively.

Relates to a charge to increase the remediation accrual at the AltEn facility relating to Corteva's estimated voluntary contribution to the solid waste and wastewater remedial action plans.

See Note 15 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements, for additional information.

Includes proceeds received related to prior significant items.

Explanatory Note

During management’s review of the financial results for the fourth quarter of 2024, a material misclassification in the EIDP, Inc.

Statements of Cash Flows was identified.

Beginning in the fourth quarter of 2023, and continuing into each of the quarterly periods ended March 31, 2024, June 30, 2024, and September 30, 2024 (collectively, the “Affected Periods”), cash outflows covering intercompany activities with Corteva, Inc., EIDP’s parent company (“Parent”), were incorrectly reflected within “Cash provided by (used for) operating activities – continuing operations” rather than “Cash provided by (used for) investing and financing activities.” There was no impact to EIDP’s Consolidated Statements of Operations, Consolidated Balance Sheets, Consolidated Statements of Comprehensive Income (Loss) or Consolidated Statements of Equity in any of the Affected Periods noted above.

The impacts are discussed in further detail in EIDP Note 1 – Basis of Presentation, of the EIDP Consolidated Financial Statements.

Management of EIDP has also reassessed its internal control over financial reporting and disclosure controls and procedures and determined that they were not effective as of December 31, 2023 and continue to be ineffective at December 31, 2024 as a result of a material weakness related to the lack of design and maintenance of effective controls to evaluate the appropriate cash flow classification for intercompany transactions between EIDP and Corteva, Inc., as further described in Part II, Item 9A – Controls and Procedures, and Management’s Report on Internal Control over Financial Reporting, of this Annual Report on Form 10-K.

Consists of estimated Lorsban® related charges.

Includes a benefit of $ 18 million for the year ended December 31, 2023, relating to the sale of seeds already under production in Russia when the decision to exit the country was made and that the company was contractually required to purchase.

It consists of $ 71 million of net sales and $ 53 million of cost of goods sold for the year ended December 31, 2023.

Index to the Consolidated Financial Statements

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Management assessed the effectiveness of EIDP's internal control over financial reporting as of December 31, 2025, based on criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission ("COSO") in Internal Control-Integrated Framework (2013) .

Based on its assessment and those criteria, management concluded that EIDP did not maintain effective internal control over financial reporting as of December 31, 2024, due to the material weakness described below.

A material weakness is a deficiency, or combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of a company’s annual or interim financial statements will not be prevented or detected on a timely basis.

Management identified a material weakness in internal control over financial reporting as EIDP did not design and maintain effective controls to evaluate the appropriate classification of the cash flows related to intercompany transactions between EIDP and Corteva.

This material weakness resulted in the restatement of EIDP’s Consolidated Statement of Cash Flows for the year ended December 31, 2023, as well as a material misclassification of the Consolidated Statements of Cash Flows for each of the quarterly periods ended March 31, 2024, June 30, 2024, and September 30, 2024.

Additionally, if not remediated, this material weakness could result in misstatements of the aforementioned cash flow statements or related disclosures that would result in a material misstatement to the annual or interim consolidated financial statements that would not be prevented or detected.

Based on its assessment and those criteria, management concluded that EIDP maintained effective internal control over financial reporting as of December 31, 2025.

PricewaterhouseCoopers LLP, an independent registered public accounting firm, has audited the effectiveness of EIDP's internal control over financial reporting as of December 31, 2025, as stated in their report, which is presented on the following pages.

Remediation Plan

To remediate the material weakness in its internal control over financial reporting related to the classification of intercompany transactions between EIDP and Corteva in EIDP’s Consolidated Statements of Cash Flows, EIDP will be introducing enhancements to the design of its disclosure controls and procedures as they relate to the presentation of intercompany activity

between EIDP and Corteva within the EIDP Consolidated Statements of Cash Flows.

These enhancements to its internal control over financial reporting will include:

(i) improving the existing process design to generate the statement of cash flows, including the identification of relevant control points to validate the output from the process is complete and accurate, and (ii) formal assessments of the EIDP financial reporting implications of any future intercompany arrangements between EIDP and Corteva.

While EIDP anticipates that these enhancements will remediate the material weakness in its internal control over financial reporting, EIDP will not be able to conclude whether such efforts have been successful until an adequate period of time has passed to enable management to test the design and operational effectiveness of the enhanced controls.

As we continue to evaluate and work to improve our internal control over financial reporting, we may take additional measures to address the material weakness or modify certain of the planned remediation measures.

Chief Executive Officer and Director David P.

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We have audited the accompanying consolidated balance sheets of EIDP, Inc.

and its subsidiaries (the "Company") as of December 31, 2024 and 2023, and the related consolidated statements of operations, comprehensive income (loss), equity and cash flows for each of the three years in the period ended December 31, 2024, including the related notes and schedule of valuation and qualifying accounts for each of the three years in the period ended December 31, 2024 appearing under Item 15 (collectively referred to as the “consolidated financial statements”).

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of the Company as of December 31, 2025 and 2024, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2025 in conformity with accounting principles generally accepted in the United States of America.

Also in our opinion, the Company did not maintain, in all material respects, effective internal control over financial reporting as of December 31, 2024, based on criteria established in Internal Control - Integrated Framework (2013) issued by the COSO because a material weakness in internal control over financial reporting existed as of that date related to the Company not designing and maintaining effective controls to evaluate the appropriate classification of the cash flows related to intercompany transactions between EIDP and its parent, Corteva.

A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the annual or interim financial statements will not be prevented or detected on a timely basis.

The material weakness referred to above is described in the accompanying Management’s Report on Internal Control over Financial Reporting.

We considered this material weakness in determining the nature, timing, and extent of audit tests applied in our audit of the 2024 consolidated financial statements, and our opinion regarding the effectiveness of the Company’s internal control over financial reporting does not affect our opinion on those consolidated financial statements.

Restatement of Previously Issued Financial Statements

As discussed in Note 1 to the consolidated financial statements, the Company has restated its 2023 financial statements to correct an error.

Also in our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2025, based on criteria established in Internal Control - Integrated Framework (2013) issued by the COSO.

Basis for Opinions

The Company's management is responsible for these consolidated financial statements, for maintaining effective internal control over financial reporting, and for its assessment of the effectiveness of internal control over financial reporting, included in management’s report referred to above.

Our responsibility is to express opinions on the Company’s consolidated financial statements and on the Company's internal control over financial reporting based on our audits.

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Restructuring and asset related charges - net 146 288 336

Separation costs 35 — —

Other income (expense) - net ( 570 ) ( 261 ) ( 448 )

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(In millions) For the Year Ended December 31,

(Restated) 2022

2025 2024 2023

Operating activities

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Capital expenditures ( 591 ) ( 597 ) ( 595 )

Net advances to Parent on in-house banking arrangement 361 ( 20 ) —

Net payment from (advances to) Parent on in-house banking arrangement — 361 ( 20 )

Proceeds from sales of property, businesses, and consolidated companies - net of cash divested 54 5 57

Acquisitions of businesses - net of cash acquired — — ( 1,456 )

Escrow funding associated with acquisitions — — ( 36 )

Investments in and loans to nonconsolidated affiliates ( 20 ) ( 7 ) ( 32 )

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Net change in borrowings (less than 90 days) — 53 ( 6 )

Net advances to Parent on in-house banking arrangement ( 129 ) — —

Proceeds from related party debt — — 48

Net payment from (advances to) Parent on in-house banking arrangement 129 ( 129 ) —

Payments on related party debt — — ( 1,129 )

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Other comprehensive income (loss) ( 792 ) ( 792 )

Due from Parent ( 129 ) ( 129 )

Share-based compensation 47 ( 2 ) 45

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Issuance of Corteva Stock 60 60

Dividend to Parent ( 1,750 ) ( 1,750 )

Other - net 8 ( 2 ) ( 2 ) 4

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Segment Information

5 Unaudited Quarterly Financial Information

Notes to the Consolidated Financial Statements (continued)

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Corteva, Inc.

owns 100 % of the outstanding common stock of EIDP.

owns 100 percent of the outstanding common stock of EIDP.

EIDP is a subsidiary of Corteva, Inc.

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• Preferred Stock - EIDP has preferred stock outstanding to third parties which is accounted for as a noncontrolling interest at the Corteva, Inc.

Each share of EIDP Preferred Stock - $ 4.50 Series and EIDP Preferred Stock - $ 3.50 Series issued and outstanding at the effective date of the Corteva Distribution remains issued and outstanding as to EIDP and was unaffected by the Corteva Distribution.

Each share of EIDP Preferred Stock - $ 4.50 Series and EIDP Preferred Stock - $ 3.50 Series issued and outstanding at the effective date of the Corteva Separation remains issued and outstanding as to EIDP and was unaffected by the Corteva Separation.

• Related Party Loan - EIDP engaged in a series of debt redemptions during the second quarter of 2019 that were partially funded through an intercompany loan from Corteva, Inc.

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level but remained on EIDP's consolidated financial statements at the standalone level (including the associated interest) through its repayment date in the fourth quarter of 2023.

• Master In-House Banking Agreement - A Master In-House Banking Agreement exists to which EIDP is a party, along with Corteva and certain consolidated subsidiaries, as more fully described in Note 2 – Related Party Transactions, of the EIDP Consolidated Financial Statements.

• Master In-House Banking Agreement - A Master In-House Banking Agreement exists to which EIDP is a party, along with Corteva and certain consolidated subsidiaries, as more fully described in EIDP Note 2 – Related Party Transactions, of the EIDP Consolidated Financial Statements.

Through the third quarter of 2024, EIDP earned interest on Corteva, Inc.’s borrowings under the Master In-House Banking Agreement;

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Such transactions are eliminated in consolidation at the Corteva, Inc.

• Dividends - The Board of Directors of EIDP authorizes and declares a quarterly dividend to Corteva, Inc., from which the proceeds are intended to be used to fund Corteva, Inc.

share repurchases and common stock dividends during the subsequent quarter.

• Capital Structure - At December 31, 2025, Corteva, Inc.'s capital structure consists of 672,163,000 issued shares of common stock, par value $ 0.01 per share.

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Consolidated Financial Statements

• Note 4 - Business Combinations - refer to page F-18 of the Corteva, Inc.

Consolidated Financial Statements

• Note 4 - Revenue - refer to page F-17 of the Corteva, Inc.

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Consolidated Financial Statements

Notes to the Consolidated Financial Statements (continued)

• Note 17 - Pension Plans and Other Post-Employment Benefits - refer to page F-47 of the Corteva, Inc.

Consolidated Financial Statements

Notes to the Consolidated Financial Statements (continued)

• Note 18 - Stock-Based Compensation - refer to page F-56 of the Corteva, Inc.

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refer to EIDP Note 4 - Segment Information, of the EIDP Consolidated Financial Statements, below

Restatement of Previously Issued Financial Statements

As disclosed in EIDP Note 2 – Related Party Transactions, to the EIDP Consolidated Financial Statements, EIDP and Corteva, including certain consolidated subsidiaries, are party to a Master In-House Banking Agreement (“IHB Arrangement”).

During management’s review of the financial results for the fourth quarter of 2024, a material misclassification in the EIDP, Inc.

Consolidated Statements of Cash Flows was identified.

Beginning in the fourth quarter of 2023, and continuing into each of the quarterly periods ended March 31, 2024, June 30, 2024, and September 30, 2024, cash outflows covering intercompany activities with Corteva, Inc.

under the IHB Arrangement were incorrectly reflected within “Cash provided by (used for) operating activities – continuing operations” rather than “Cash provided by (used for) investing and financing activities.”

Based on management’s assessment of the materiality of these errors on prior period consolidated financial statements under the applicable guidance prescribed by the Securities and Exchange Commission, a conclusion was reached that the errors were material to previously issued interim and annual Consolidated Statements of Cash Flows.

The impact of the restatements to the interim periods ended March 31, 2024, June 30, 2024, and September 30, 2024 are presented in EIDP Note 5 – Unaudited Quarterly Financial Information, of the EIDP Consolidated Financial Statements.

The restatement to the December 31, 2023 Consolidated Statements of Cash Flows is as follows:

Restated Consolidated Statements of Cash Flows

For the Year Ended December 31, 2023

(In millions) As Reported Adjustment As Restated

Cash provided by (used for) operating activities - continuing operations $ 1,408 $ 360 $ 1,768

Cash provided by (used for) operating activities $ 1,368 $ 360 $ 1,728

Cash provided by (used for) investing activities $ ( 1,987 ) $ ( 20 ) $ ( 2,007 )

Cash provided by (used for) financing activities $ 302 $ ( 340 ) $ ( 38 )

NOTE 2 - RELATED PARTY TRANSACTIONS

Transactions with Corteva

In the second quarter of 2019, EIDP entered into a related party revolving loan from Corteva, Inc., with a maturity date in 2024.

EIDP repaid the outstanding related party revolving loan balance during the fourth quarter of 2023.

EIDP incurred interest expense of $ 20 million and $ 46 million and paid interest of $ 40 million and $ 48 million for the years ended December 31, 2023 and 2022, respectively, associated with the related party loan to Corteva, Inc., net of interest income earned from the below-noted Master In-House Banking Agreement.

EIDP and Corteva, including certain consolidated subsidiaries (collectively the “Participating Companies”), are party to a Master In-House Banking Agreement, which established banking arrangements to facilitate the management of the cash and liquidity needs of the Participating Companies.

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Beginning in the fourth quarter of 2024, Corteva, Inc.'s intent to repay the amounts due changed and therefore, borrowings under this agreement are now classified within equity of EIDP.

As of December 31, 2024, EIDP had a due from parent of $ 129 million classified within the equity section of EIDP’s Consolidated Balance Sheets, after EIDP’s issuance of a $ 1,750 million dividend to Corteva, Inc.

during the fourth quarter of 2024 which was utilized by Corteva, Inc.

to repay amounts due to EIDP.

As of December 31, 2023, EIDP had a $ 377 million receivable from Corteva, Inc.

related to this agreement within other assets on EIDP's Consolidated Balance Sheets.

Additionally, through the third quarter of 2024, EIDP earned interest income from Corteva, Inc.

Through the third quarter of 2024, EIDP earned interest income from Corteva, Inc.

of $ 38 million under this agreement, which is reflected as other income (expense) - net in EIDP's Consolidated Statements of Operations.

Notes to the Consolidated Financial Statements (continued)

As of December 31, 2025 and 2024, EIDP had a due from parent of $ — million and $ 129 million, respectively, classified within the equity section of EIDP’s Consolidated Balance Sheets.

In December 2025, the Board of Directors of EIDP authorized and declared a dividend of $ 195 million to Corteva, Inc., from which the proceeds are intended to be used to fund Corteva, Inc.

share repurchases and common stock dividends during the first quarter of 2026.

At December 31, 2025, EIDP had a dividend payable to Corteva, Inc.

of $ 133 million.

EIDP declared cash dividends of $ 1,815 million and $ 1,750 million for the years ended December 31, 2025 and 2024, respectively.

Cash dividends paid to Corteva, Inc.

during the years ended December 31, 2025 and 2024 were $ 1,682 million and $ 1,750 million, respectively.

In the second quarter of 2019, EIDP entered into a related party revolving loan from Corteva, Inc., with a maturity date in 2024.

EIDP repaid the outstanding related party revolving loan balance during the fourth quarter of 2023.

EIDP incurred interest expense of $ 20 million and paid interest of $ 40 million for the year ended December 31, 2023 associated with the related party loan to Corteva, Inc., net of interest income earned from the Master In-House Banking Agreement.

As of December 31, 2025 and 2024, EIDP had payables to Corteva, Inc.

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Consolidated Financial Statements for further details of the Separation Agreements).

Notes to the Consolidated Financial Statements (continued)

NOTE 3 - INCOME TAXES

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Consolidated Financial Statements for discussion of tax items that do not differ between Corteva, Inc.

Since the reconciliation to the U.S.

statutory rate for the year ended December 31, 2025 is the same for both Corteva, Inc.

and EIDP, such information is omitted from the table below.

Geographic Allocation of Income (Loss) and Provision for (Benefit from) Income Taxes For the Year Ended December 31,

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Statutory Rate For the Year Ended December 31,

2024 2023 2022

Statutory U.S.

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Effective tax rates on international operations - net 1

4.6 ( 1.9 ) ( 1.0 )

Acquisitions, divestitures and ownership restructuring activities 2

( 1.1 ) 3.6 ( 5.5 )

research and development credit ( 4.5 ) ( 6.0 )

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Impact of Brazil valuation allowance 6

9.1 — ( 2.6 )

Repatriation of foreign earnings 5

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Includes a tax charge of $ 46 million for the year ended December 31, 2023 associated with intellectual property realignment.

Includes net tax benefits of $( 55 ) million and $( 42 ) million for the year ended December 31, 2022, related to deferred tax assets established upon change in a U.S.

entity's tax characterization, and a worthless stock deduction on Company's investment in a subsidiary after a change in the entity's legal structure, respectively.

Notes to the Consolidated Financial Statements (continued)

Principally reflects the impact of foreign exchange gains and losses on net monetary assets for which no corresponding tax impact is realized.

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foreign tax credits.

For the year ended December 31, 2024, a charge of $ 120 million was recorded to establish a valuation allowance against the net deferred tax asset position of

a legal entity in Brazil (Seed business).

Notes to the Consolidated Financial Statements (continued)

NOTE 4 - SEGMENT INFORMATION

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In addition, there are no differences between Corteva, Inc.

and EIDP segment net sales, segment operating EBITDA, segment assets, or significant items by segment;

and EIDP segment net sales, segment operating EBITDA or significant items by segment;

refer to page F-65 of the Corteva, Inc.

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Significant items 658 315 579

Separation costs 35 — —

Corporate expenses 138 115 110

Segment operating EBITDA $ 3,986 $ 3,491 $ 3,491

NOTE 5 - UNAUDITED QUARTERLY FINANCIAL INFORMATION

As disclosed in EIDP Note 1 – Basis of Presentation, of the EIDP Consolidated Financial Statements, the quarterly periods ended March 31, 2024, June 30, 2024, and September 30, 2024 have been restated to correct a material misclassification in the Statements of Cash Flows.

These adjustments will be reflected through restatements in subsequently filed quarterly reports on Form 10-Q.

The tables below reflect the impact of the restatements.

Restated Interim Consolidated Statements of Cash Flows

Three Months Ended March 31, 2024

(In millions) As Reported Adjustment As Restated

Cash provided by (used for) operating activities - continuing operations $ ( 2,972 ) $ 362 $ ( 2,610 )

Cash provided by (used for) operating activities $ ( 2,975 ) $ 362 $ ( 2,613 )

Cash provided by (used for) investing activities $ ( 270 ) $ ( 362 ) $ ( 632 )

Notes to the Consolidated Financial Statements (continued)

Six Months Ended June 30, 2024

(In millions) As Reported Adjustment As Restated

Cash provided by (used for) operating activities - continuing operations $ ( 2,731 ) $ 723 $ ( 2,008 )

Cash provided by (used for) operating activities $ ( 2,890 ) $ 723 $ ( 2,167 )

Cash provided by (used for) investing activities $ ( 305 ) $ ( 723 ) $ ( 1,028 )

Nine Months Ended September 30, 2024

(In millions) As Reported Adjustment As Restated

Cash provided by (used for) operating activities - continuing operations $ ( 2,977 ) $ 1,091 $ ( 1,886 )

Cash provided by (used for) operating activities $ ( 3,134 ) $ 1,091 $ ( 2,043 )

Cash provided by (used for) investing activities $ ( 466 ) $ ( 1,091 ) $ ( 1,557 )

FORM 10-K SUMMARY

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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 9A. Controls and Procedures