What changed in this filing

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Item 9A. Controls and Procedures

2026-02-17 compared with 2025-02-14 · 1021 added, 645 removed, 1829 unchanged (48% of the section changed)

3 unchanged sentences

These controls and procedures also give reasonable assurance that information required to be disclosed in such reports is accumulated and communicated to management to allow timely decisions regarding required disclosures.

As of December 31, 2024, the Company's Executive Chairman (Principal Executive Officer (PEO)), Chief Executive Officer (CEO) and Chief Financial Officer (CFO), together with management, conducted an evaluation of the effectiveness of the Company's disclosure controls and procedures pursuant to Rules 13a-15(e) and 15d-15(e) of the Exchange Act.

Based on that evaluation, the PEO, CEO and CFO concluded that these disclosure controls and procedures are effective.

As of December 31, 2025, the Company's Chief Executive Officer ("CEO") and Chief Financial Officer ("CFO"), together with management, conducted an evaluation of the effectiveness of the Company'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 are effective.

Changes in Internal Control Over Financial Reporting

There were no changes in the Company's internal control over financial reporting identified in connection with the evaluation required by paragraph (d) of Exchange Act Rules 13a-15 and 15d-15 that was conducted during the quarter ended December 31, 2025 that have materially affected, or are reasonably likely to materially affect, the Company's internal control over financial reporting.

Management's assessment of the effectiveness of the Company’s internal control over financial reporting as of December 31, 2024 excluded Donatelle Plastics, LLC, which was acquired by the Company in July 2024.

The total assets and total net sales of Donatelle Plastics, LLC excluded from management’s assessment of internal control over financial reporting both represent less than 1 percent of the related consolidated financial statement amounts as of and for the year ended December 31, 2024.

Management's assessment of the effectiveness of the Company’s internal control over financial reporting as of December 31, 2025 excluded Sinochem (Ningbo) RO Memtech Co., Ltd., which was acquired by the Company in October 2025.

The total assets and total net sales of Sinochem (Ningbo) RO Memtech Co., Ltd.

excluded from management’s assessment of internal control over financial reporting both represent less than 1 percent of the related consolidated financial statement amounts as of and for the year ended December 31, 2025.

Companies are allowed to exclude acquisitions from their assessment of internal control over financial reporting in the year of acquisition while integrating the acquired company under guidelines established by the Securities and Exchange Commission.

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During the three months ended December 31, 2025, no director or officer of the Company adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K.

On February 13, 2026, the Company committed to a plan aimed at reducing costs, streamlining operations, and aligning its organizational and cost structure with its strategic priorities.

The Company currently anticipates incurring pre-tax restructuring and other costs of approximately $100 million to $150 million, starting in the first quarter of 2026 and continuing through 2028.

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

37 unchanged sentences

Balance at end of period $ 18 $ 22 $ 36

Inventory—Obsolescence Reserve

Balance at beginning of period $ 8 $ 4 $ 6

Additions charged to expenses 41 14 18

Deductions from reserves 2

( 14 ) ( 10 ) ( 20 )

Balance at end of period $ 35 $ 8 $ 4

Deferred Tax Assets—Valuation Allowance

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

Deductions include disposals and currency translation adjustments.

Additions and Deductions include currency translation adjustments.

1 unchanged sentence

(b) Exhibits required to be filed by Item 601 of Regulation S-K (all of which are under Commission File No.

Separation and Distribution Agreement, effective as of November 1, 2025, by and between DuPont de Nemours, Inc.

and Qnity Electronics, Inc.

incorporated by reference to Exhibit 2.1 to DuPont de Nemours, Inc.’s Current Report on Form 8-K filed November 3, 2025.

Third Amended and Restated Certificate of Incorporation of DuPont de Nemours, Inc.

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Current Report on Form 8-K filed on November 28, 2018.

Third Supplemental Indenture, dated September 15, 2025, by and between DuPont de Nemours, Inc.

Bank Trust Company, National Association, as trustee, incorporated by reference to Exhibit 4.2 to DuPont de Nemours, Inc.’s Current Report on Form 8-K filed October 2, 2025.

Fourth Supplemental Indenture, dated October 2, 2025, by and between DuPont de Nemours, Inc.

Bank Trust Company, National Association, as trustee, incorporated by reference to Exhibit 4.3 to DuPont de Nemours, Inc.’s Current Report on Form 8-K filed October 2, 2025.

Fifth Supplemental Indenture, dated November 7, 2025, by and between DuPont de Nemours, Inc.

Bank Trust Company, National Association, as trustee, incorporated by reference to Exhibit 4.1 to DuPont de Nemours, Inc.’s Current Report on Form 8-K filed November 19, 2025.

Settlement Agreement, dated June 30, 2023, by and among The Chemours Company, The Chemours Company FC, LLC, DuPont de Nemours, Inc., Corteva Inc.

36 unchanged sentences

Quarterly Report on Form 10-Q for the quarter ended June 30, 2019.

Amended and Restated Employment Agreement by and between DuPont de Nemours, Inc.

and Edward D.

Breen, dated as of December 28, 2019, incorporated by reference to Exhibit 10.1 to DuPont de Nemours, Inc.

Current Report on Form 8-K filed December 29, 2020.

Employment Letter Agreement by and between DuPont de Nemours, Inc.

and Edward D.

Breen, dated as of February 6, 2023, incorporated by reference to Exhibit 10.1 to DuPont de Nemours, Inc.

Current Report on Form 8-K filed February 7, 2023.

Tax Matters Agreement, effective as of November 1, 2025, by and between DuPont de Nemours, Inc.

and Qnity Electronics, Inc.

incorporated by reference to Exhibit 10.1 to DuPont de Nemours, Inc.’s Current Report on Form 8-K filed November 3, 2025.

Employee Matters Agreement, effective as of November 1, 2025, by and between DuPont de Nemours, Inc.

and Qnity Electronics, Inc.

incorporated by reference to Exhibit 10.2 to DuPont de Nemours, Inc.’s Current Report on Form 8-K filed November 3, 2025.

Transition Services Agreement, effective as of November 1, 2025, by and between DuPont Specialty Products USA, LLC and EKC Advanced Electronics USA, LLC.

incorporated by reference to Exhibit 10.3 to DuPont de Nemours, Inc.’s Current Report on Form 8-K filed November 3, 2025.

Intellectual Property Cross-License Agreement, effective as of November 1, 2025, by and among DuPont de Nemours, Inc., Qnity Electronics, Inc., and certain of their respective affiliates incorporated by reference to Exhibit 10.4 to DuPont de Nemours, Inc.’s Current Report on Form 8-K filed November 3, 2025.

Legacy Liabilities Assignment Agreement, effective as of November 1, 2025, by and between DuPont de Nemours, Inc.

and Qnity Electronics, Inc.

incorporated by reference to Exhibit 10.5 to DuPont de Nemours, Inc.’s Current Report on Form 8-K filed November 3, 2025.

Transaction Agreement by and among DuPont de Nemours, Inc., ARC Falcon Holdings, L.P.

and New Arclin U.S.

Holding Corp., dated August 29, 2025, incorporated by reference to Exhibit 2.1 to DuPont de Nemours, Inc.’s Current Report on Form 8-K filed September 2, 2025.

Form of Judicial Consent Order (New Jersey) and Exhibit A thereto incorporated by reference to Exhibit 99.1 to DuPont de Nemours, Inc.’s Current Report on Form 8-K filed August 4, 2025.

DuPont de Nemours, Inc.

Insider Trading Policy.

Insider Trading Policy incorporated by reference to Exhibit 19 to DuPont de Nemours, Inc.

Annual Report on Form 10-K for the year ended December 31, 2025.

Subsidiaries of the Registrant.

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Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

DuPont Incentive Compensation Clawback Policy, effective October 2, 2023.

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February 17, 2026

/s/ MICHAEL G.

Vice President and Controller

/s/ MADELEINE G.

Vice President of Tax, Controller and Chief Accounting Officer

Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

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(Principal Financial Officer) February 17, 2026

/s/ MICHAEL G.

GOSS Vice President and Controller February 14, 2025

Goss (Principal Accounting Officer)

/s/ MADELEINE G.

BARBER Vice President of Tax, Controller and Chief Accounting Officer February 17, 2026

Barber (Principal Accounting Officer)

We, the undersigned directors and officers of DuPont de Nemours, Inc, hereby severally constitute Erik T.

Hoover, Senior Vice President & General Counsel and Peter W.

Hennessey, Vice President, Associate General Counsel & Corporate Secretary, and each of them singly, as our true and lawful attorneys with full power to them and each of them to sign for us, in our names in the capacities indicated below, any and all amendments or supplements to this Annual Report on Form 10-K and to cause same to be filed with the U.S.

Hoover, Senior Vice President & General Counsel and Paige E.

Fleming, Vice President, Associate General Counsel & Corporate Secretary, and each of them singly, as our true and lawful attorneys with full power to them and each of them to sign for us, in our names in the capacities indicated below, any and all amendments or supplements to this Annual Report on Form 10-K and to cause same to be filed with the U.S.

Securities and Exchange Commission pursuant to the Securities and Exchange Act of 1934.

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/s/ EDWARD D.

BREEN Executive Chairman February 14, 2025

Breen (Principal Executive Officer)

BREEN Chairman February 17, 2026

BRADY Director February 17, 2026

CHANDY Director February 17, 2026

/s/ TERRENCE R.

CURTIN Director February 14, 2025

/s/ ALEXANDER M.

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DU PONT Director February 17, 2026

/s/ KRISTINA M.

JOHNSON Director February 14, 2025

/s/ LUTHER C.

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LOWERY Director February 17, 2026

/s/ DEANNA M.

MULLIGAN Director February 14, 2025

/s/ STEVEN M.

STERIN Director February 14, 2025

Director February 17, 2026

MCMACKEN Director February 17, 2026

DuPont de Nemours, Inc.

29 unchanged sentences

Based on its assessment and those criteria, management concluded that the Company maintained effective internal control over financial reporting as of December 31, 2025.

Management’s assessment of the effectiveness of the Company’s internal control over financial reporting as of December 31, 2024 excluded Donatelle Plastics, LLC, which was acquired by the Company in July 2024.

The total assets and total net sales of Donatelle Plastic, LLC excluded from management’s assessment of internal control over financial reporting both represent less than 1 percent of the related consolidated financial statement amounts as of and for the year ended December 31, 2024.

Management’s assessment of the effectiveness of the Company’s internal control over financial reporting as of December 31, 2025 excluded Sinochem (Ningbo) RO Memtech Co., Ltd., which was acquired by the Company in October 2025.

The total assets and total net sales of Sinochem (Ningbo) RO Memtech Co., Ltd.

PricewaterhouseCoopers LLP, an independent registered public accounting firm, has audited the effectiveness of the Company's internal control over financial reporting as of December 31, 2025, as stated in its report, which is presented on the following pages.

/s/ EDWARD D.

BREEN /s/ LORI D.

KOCH /s/ ANTONELLA B.

Executive Chairman Lori D.

Chief Executive Officer Antonella B.

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We believe that our audits provide a reasonable basis for our opinions.

As described in Management’s Report on Internal Control over Financial Reporting, management has excluded Donatelle Plastics, LLC from its assessment of internal control over financial reporting as of December 31, 2024 because it was acquired by the Company in a purchase business combination during 2024.

We have also excluded Donatelle Plastics, LLC from our audit of internal control over financial reporting.

Donatelle Plastics, LLC is a wholly-owned subsidiary whose total assets and total net sales excluded from management’s assessment and our audit of internal control over financial reporting both represent less than 1 percent of the related consolidated financial statement amounts as of and for the year ended December 31, 2024.

As described in Management’s Report on Internal Control over Financial Reporting, management has excluded Sinochem (Ningbo) RO Memtech Co., Ltd.

from its assessment of internal control over financial reporting as of December 31, 2025 because it was acquired by the Company in a purchase business combination during 2025.

We have also excluded Sinochem (Ningbo) RO Memtech Co., Ltd.

from our audit of internal control over financial reporting.

Sinochem (Ningbo) RO Memtech Co., Ltd.

is a wholly-owned subsidiary whose total assets and total net sales excluded from management’s assessment and our audit of internal control over financial reporting both represent less than 1 percent of the related consolidated financial statement amounts as of and for the year ended December 31, 2025.

Definition and Limitations of Internal Control over Financial Reporting

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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;

(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.

2 unchanged sentences

Critical Audit Matters

The critical audit matter communicated below is a matter arising from the current period audit of the consolidated financial statements that was communicated or required to be communicated to the audit committee and that (i) relates to accounts or disclosures that are material to the consolidated financial statements and (ii) involved our especially challenging, subjective, or complex judgments.

The communication of critical audit matters does not alter in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit matter below, providing a separate opinion on the critical audit matter or on the accounts or disclosures to which it relates.

Goodwill impairment assessment – Protection reporting unit

As described in Notes 1 and 14 to the consolidated financial statements, as of December 31, 2024, the Company’s consolidated goodwill balance was $16.6 billion, and the goodwill associated with the Protection reporting unit was $4.8 billion.

The critical audit matters communicated below are matters arising from the current period audit of the consolidated financial statements that were communicated or required to be communicated to the audit committee and that (i) relate to accounts or disclosures that are material to the consolidated financial statements and (ii) involved our especially challenging, subjective, or complex judgments.

The communication of critical audit matters does not alter in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit matters below, providing separate opinions on the critical audit matters or on the accounts or disclosures to which they relate.

Interim and Annual Goodwill Impairment Assessments – Certain Reporting Units in the Diversified Industrials and Healthcare & Water Technologies Segments

As described in Notes 1 and 14 to the consolidated financial statements, as of December 31, 2025, the Company’s consolidated goodwill balance was $7.9 billion, the majority of which relates to certain reporting units in the Diversified Industrials and Healthcare & Water Technologies segments.

Management tests goodwill for impairment at the reporting unit level annually during the fourth quarter, or more frequently when events or changes in circumstances indicate the fair value of a reporting unit has more likely than not declined below its carrying value.

Management performed quantitative testing on the Protection reporting unit using a combination of the discounted cash flow model (a form of the income approach) and the Guideline Public Company Method (a form of market approach).

As a result of the assessment performed, management concluded the estimated fair value of the Protection reporting unit exceeded its carrying value and that no impairments were identified.

During the first quarter of 2025, the Company realigned its operating and reportable segments which changed the composition of certain reporting units.

The associated reporting units' goodwill were assessed for impairment after the Q1 2025 segment realignment.

For both the interim impairment assessment performed during the first quarter of 2025 and the annual impairment assessment performed during the fourth quarter of 2025, management performed quantitative testing on the reporting units using a combination of discounted cash flow models (a form of the income approach) and the Guideline Public Company Method (a form of market approach).

As disclosed by management, under the income approach, fair value is determined based on the present value of estimated future cash flows, discounted at an appropriate risk-adjusted rate.

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Discounted cash flow valuations are completed using the following significant assumptions:

projected revenue growth, EBITDA margin, weighted average cost of capital, terminal growth rate and the tax rate.

projected revenue growth, EBITDA margins, weighted average costs of capital, and terminal growth rates.

Under the market approach, management applies the Guideline Public Company Method, which uses projected earnings before interest, taxes, depreciation and amortization (EBITDA) and derived multiples from comparable market transactions.

The principal considerations for our determination that performing procedures relating to the goodwill impairment assessment of the Protection reporting unit is a critical audit matter are (i) the significant judgment by management when developing the fair value estimate of the Protection reporting unit;

(ii) a high degree of auditor judgment, subjectivity and effort in performing procedures and evaluating management’s significant assumptions related to projected revenue growth, EBITDA margins, the weighted average cost of capital, the terminal growth rate and the tax rate for the income approach and market multiples for the market approach;

As a result of the interim and annual impairment assessments performed, management concluded the estimated fair values of the reporting units exceeded their carrying values and no impairments were identified.

The principal considerations for our determination that performing procedures relating to the interim and annual goodwill impairment assessments of certain reporting units in the Diversified Industrials and Healthcare & Water Technologies segments is a critical audit matter are (i) the significant judgment by management when developing the fair value estimates of the reporting units;

(ii) a high degree of auditor judgment, subjectivity and effort in performing procedures and evaluating management’s significant assumptions related to projected revenue growth, EBITDA margins, the weighted average costs of capital, and the terminal growth rates for the income approach and market multiples for the market approach;

and (iii) the audit effort involved the use of professionals with specialized skill and knowledge.

Addressing the matter involved performing procedures and evaluating audit evidence in connection with forming our overall opinion on the consolidated financial statements.

These procedures included testing the effectiveness of controls relating to management’s goodwill impairment assessment, including controls over the valuation of the Protection reporting unit and controls over the development of the significant assumptions related to projected revenue growth, EBITDA margins, the weighted average cost of capital, the terminal growth rate, the tax rate and market multiples.

These procedures also included, among others (i) testing management’s process for developing the fair value estimate of the Protection reporting unit;

These procedures included testing the effectiveness of controls relating to management’s interim and annual goodwill impairment assessments, including controls over the valuation of certain reporting units in the Diversified Industrials and Healthcare & Water Technologies segments and controls over the development of the significant assumptions related to projected revenue growth, EBITDA margins, the weighted average costs of capital, the terminal growth rates, and market multiples.

These procedures also included, among others (i) testing management’s process for developing the fair value estimates of the reporting units;

(ii) evaluating the appropriateness of the income and market approaches used by management;

(iii) testing the completeness and accuracy of underlying data used in the income and market approaches;

and (iv) evaluating the reasonableness of the significant assumptions used by management related to projected revenue growth, EBITDA margins, the weighted average cost of capital,

the terminal growth rate and the tax rate for the income approach and market multiples for the market approach.

Evaluating management’s assumptions related to projected revenue growth, EBITDA margins, and the tax rate involved considering (i) the current economic conditions and recent operating results of the Protection reporting unit;

and (iv) evaluating the reasonableness of the significant assumptions used by management related to projected revenue growth, EBITDA margins, the weighted average costs of capital, and the terminal growth rates for the income approach and market multiples for the market approach.

Evaluating management’s assumptions related to projected revenue growth and EBITDA margins involved considering (i) the current economic conditions and recent operating results of the reporting units;

(ii) the consistency with external market and industry data;

and (iii) whether the assumptions used by management were consistent with evidence obtained in other areas of the audit.

Professionals with specialized skill and knowledge were used to assist in evaluating (i) the appropriateness of the Company’s income and market approaches and (ii) the reasonableness of the weighted average cost of capital, the terminal growth rate and market multiples assumptions.

and (iii) whether the assumptions used by management were

consistent with evidence obtained in other areas of the audit.

Professionals with specialized skill and knowledge were used to assist in evaluating (i) the appropriateness of the Company’s income and market approaches and (ii) the reasonableness of the weighted average costs of capital, the terminal growth rates and market multiples assumptions.

Tax-Free Determination of the Electronics Separation and Certain Internal Distributions

As described in Notes 1 and 8 to the consolidated financial statements, on November 1, 2025, the Company completed the separation of its Electronics Business (the “Electronics Separation”) into an independent public company, Qnity Electronics, Inc.

(“Qnity”), by way of the distribution to DuPont's stockholders.

Management has determined that the Electronics Separation and certain internal distributions qualified as tax-free transactions under the applicable sections of the United States (U.S.) Internal Revenue Code.

If the completed distribution of Qnity, together with certain related transactions, were to fail to qualify for non-recognition treatment for U.S.

federal income tax purposes, then the Company could be subject to significant income tax liabilities.

The principal considerations for our determination that performing procedures relating to the tax-free determination of the Electronics Separation and certain internal distributions is a critical audit matter are (i) the significant judgment by management in applying the relevant tax laws and regulations in determining the tax-free treatment of the Electronics Separation and certain internal distributions;

(ii) a high degree of auditor judgment, subjectivity, and effort in performing procedures and evaluating audit evidence related to the tax-free determination of the Electronics Separation and certain internal distributions;

and (iii) the audit effort involved the use of professionals with specialized skill and knowledge.

Addressing the matter involved performing procedures and evaluating audit evidence in connection with forming our overall opinion on the consolidated financial statements.

These procedures included testing the effectiveness of controls relating to management’s determination of the tax-free treatment of the Electronics Separation and certain internal distributions.

These procedures also included, among others, the involvement of professionals with specialized skill and knowledge to assist in evaluating the information, including third party tax opinions, U.S.

federal tax law, written tax advice and analyses prepared internally and by external tax advisors, certain representations from management, and other relevant evidence used by management to support management’s judgments and determination that the Electronics Separation and certain internal distributions qualified as tax-free, as well as the application of relevant tax laws and regulations.

/s/ PricewaterhouseCoopers LLP

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Acquisition, integration and separation costs 203 90 19

Equity in earnings of nonconsolidated affiliates 60 51 75

Equity in (loss) earnings of nonconsolidated affiliates ( 7 ) ( 6 ) 1

Sundry income (expense) - net 14 ( 111 ) 80

Interest expense 313 366 396

Income from continuing operations before income taxes $ 1,192 $ 504 $ 1,448

Income (loss) from continuing operations before income taxes $ 200 $ 117 $ ( 279 )

Provision for (benefit from) income taxes on continuing operations 102 213 ( 217 )

Income from continuing operations, net of tax $ 778 $ 533 $ 1,061

Income (loss) from continuing operations, net of tax $ 98 $ ( 96 ) $ ( 62 )

(Loss) income from discontinued operations, net of tax ( 836 ) 834 524

Net income $ 738 $ 462 $ 5,917

Net (loss) income $ ( 738 ) $ 738 $ 462

Net income attributable to noncontrolling interests 41 35 39

Net income available for DuPont common stockholders $ 703 $ 423 $ 5,868

Net (loss) income available for DuPont common stockholders $ ( 779 ) $ 703 $ 423

Per common share data:

Earnings per common share from continuing operations - basic $ 1.77 $ 1.10 $ 2.02

Earnings (loss) per common share from continuing operations - basic $ 0.21 $ ( 0.23 ) $ ( 0.15 )

(Loss) earnings per common share from discontinued operations - basic ( 2.08 ) 1.91 1.09

Earnings per common share - basic $ 1.68 $ 0.94 $ 11.77

Earnings per common share from continuing operations - diluted $ 1.77 $ 1.09 $ 2.02

(Loss) earnings per common share - basic $ ( 1.87 ) $ 1.68 $ 0.94

Earnings (loss) per common share from continuing operations - diluted $ 0.21 $ ( 0.23 ) $ ( 0.15 )

(Loss) earnings per common share from discontinued operations - diluted ( 2.07 ) 1.91 1.09

Earnings per common share - diluted $ 1.67 $ 0.94 $ 11.75

(Loss) earnings per common share - diluted $ ( 1.86 ) $ 1.68 $ 0.94

Weighted-average common shares outstanding - basic 417.5 419.2 449.9

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(In millions) For the years ended December 31, 2025 2024 2023

Net income $ 738 $ 462 $ 5,917

Other comprehensive (loss) income, net of tax

Net (loss) income $ ( 738 ) $ 738 $ 462

Other comprehensive income (loss), net of tax

Cumulative translation adjustments 735 ( 575 ) 38

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Separation of M&M Divestitures — — ( 32 )

Total other comprehensive loss ( 603 ) ( 127 ) ( 850 )

Comprehensive income 135 335 5,067

Total other comprehensive income (loss) $ 652 $ ( 603 ) $ ( 127 )

Comprehensive (loss) income $ ( 86 ) $ 135 $ 335

Comprehensive income attributable to noncontrolling interests, net of tax 48 22 31

Comprehensive income attributable to DuPont $ 113 $ 304 $ 5,036

Comprehensive (loss) income attributable to DuPont $ ( 134 ) $ 113 $ 304

See Notes to the Consolidated Financial Statements.

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Prepaid and other current assets 121 125

Assets of discontinued operations 1,856 16,380

Total current assets

$ 5,575 $ 20,775

Property, plant and equipment 7,029 6,931

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Property, plant and equipment - net $ 3,464 $ 3,454

16,567 16,720

Other intangible assets

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Accrued and other current liabilities

Liabilities of discontinued operations 314 1,731

Total current liabilities

$ 2,305 $ 5,496

Long-Term Debt 3,134 5,323

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Total other noncurrent liabilities

$ 2,033 $ 2,024

Total Liabilities $ 7,472 $ 12,843

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Operating Activities

Net income $ 738 $ 462 $ 5,917

Net (loss) income $ ( 738 ) $ 738 $ 462

(Loss) income from discontinued operations ( 836 ) 834 524

Net income from continuing operations $ 778 $ 533 $ 1,061

Net income (loss) from continuing operations $ 98 $ ( 96 ) $ ( 62 )

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization 647 635 580

Credit for deferred income tax and other tax related items ( 163 ) ( 381 ) ( 157 )

Earnings of nonconsolidated affiliates less than dividends received 13 20 36

Net periodic pension benefit (credit) cost ( 1 ) 31 2

Provision (credit) for deferred income tax and other tax related items 13 ( 92 ) ( 308 )

Earnings of nonconsolidated affiliates less than (in excess of) dividends received 8 5 ( 2 )

Net periodic pension benefit cost (credit) 3 ( 1 ) 23

Periodic benefit plan contributions ( 44 ) ( 43 ) ( 49 )

Net gain on sales, businesses and investments ( 20 ) ( 19 ) ( 78 )

Net gain on assets, businesses and investments ( 3 ) ( 4 ) ( 11 )

Restructuring and asset related charges - net 151 57 99

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Loss on debt extinguishment 99 74 —

Interest rate swap loss 138 — —

Other net (income) loss ( 27 ) 54 ( 59 )

Interest rate swap (gain) loss ( 31 ) 138 —

Interest rate swap termination ( 123 ) — —

Donatelle contingent earn-out true-up ( 19 ) — —

Other net loss (income) 36 ( 23 ) 57

Changes in assets and liabilities, net of effects of acquired and divested companies:

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Capital expenditures ( 333 ) ( 285 ) ( 302 )

Proceeds from sales of property, businesses, and ownership interests in nonconsolidated affiliates, net of cash divested 8 1,244 10,951

Proceeds and adjustments to proceeds from sales of property and businesses, net of cash divested — ( 7 ) 1,236

Acquisitions of property and businesses, net of cash acquired ( 55 ) ( 313 ) ( 1,761 )

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Changes in short-term borrowings 60 — —

Proceeds from credit facility — — 600

Repayment of credit facility — — ( 600 )

Payments on long-term debt ( 687 ) ( 300 ) ( 2,500 )

Distribution from Electronics at spin-off 4,100 — —

Payments on long-term debt and fees ( 4,134 ) ( 687 ) ( 300 )

Purchases of common stock and forward contracts ( 500 ) ( 500 ) ( 2,000 )

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Dividends paid to stockholders ( 597 ) ( 635 ) ( 651 )

Cash transferred to Electronics at spin-off ( 664 ) — —

Payment of excise tax on purchase of treasury stock ( 8 ) ( 21 ) —

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Cash Flows from Discontinued Operations

Cash used for operations - discontinued operations ( 474 ) ( 273 ) ( 661 )

Cash provided by operations - discontinued operations 852 1,082 1,073

Cash used for investing activities - discontinued operations ( 313 ) ( 287 ) ( 342 )

Cash used for financing activities - discontinued operations ( 118 ) ( 21 ) ( 33 )

Cash used in discontinued operations ( 474 ) ( 306 ) ( 763 )

Cash provided by discontinued operations $ 421 $ 774 $ 698

Effect of exchange rate changes on cash, cash equivalents and restricted cash 11 ( 62 ) ( 36 )

(Decrease) increase in cash, cash equivalents and restricted cash ( 911 ) ( 969 ) 1,696

Decrease in cash, cash equivalents and restricted cash $ ( 1,132 ) $ ( 911 ) $ ( 968 )

(Continued on the following page)

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Income taxes, net of refunds - from continuing operations 127 184 168

Interest, net of amounts capitalized - from discontinued operations — — —

Income taxes, net of refunds - from discontinued operations 204 132 226

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Consolidated Statements of Equity

In millions Common Stock Additional Paid-in Capital Retained Earnings (Accumulated Deficit) Accumulated Other Comp (Loss) Income Treasury Stock Non-controlling Interests Total Equity

In millions Common Stock Additional Paid-in Capital Retained Earnings (Accumulated Deficit) Accumulated Other Comp (Loss) Income Treasury Stock Noncontrolling Interests Total Equity

Balance at January 1, 2023 $ 5 $ 48,420 $ ( 21,065 ) $ ( 791 ) $ — $ 448 $ 27,017

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Stock-based compensation — 51 — — — — 51

Contributions from non-controlling interest — — — — — 2 2

Distributions to non-controlling interests

— — — — — ( 36 ) ( 36 )

Distributions to noncontrolling interests — — — — — ( 37 ) ( 37 )

Purchases of treasury stock — — — — ( 1,600 ) — ( 1,600 )

Excise tax on purchase of treasury stock — — ( 21 ) — — — ( 21 )

Retirement of treasury stock

1 unchanged sentence

Forward contracts for share repurchase — ( 400 ) — — — — ( 400 )

M&M Divestiture — — — — — ( 167 ) ( 167 )

Settlement of forward contracts for share repurchase — 613 — — ( 613 ) — —

— ( 1 ) 1 — — 4 4

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Stock-based compensation — 50 — — — — 50

Distributions to non-controlling interests — — — — — ( 37 ) ( 37 )

Distributions to noncontrolling interests — — — — — ( 26 ) ( 26 )

Purchases of treasury stock — — — — ( 400 ) — ( 400 )

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Balance at December 31, 2024 $ 4 $ 47,922 $ ( 23,076 ) $ ( 1,500 ) $ — $ 443 $ 23,793

Net income — — 703 — — 35 738

Other comprehensive loss — — — ( 590 ) — ( 13 ) ( 603 )

Net loss — — ( 779 ) — — 41 ( 738 )

Other comprehensive income — — — 645 — 7 652

Dividends ($ 1.43 per common share)

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Stock-based compensation — 34 — — — — 34

Distributions to non-controlling interests

— — — — — ( 26 ) ( 26 )

Distributions to noncontrolling interests — — — — — ( 39 ) ( 39 )

Purchases of treasury stock — — — — ( 400 ) — ( 400 )

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Forward contracts for share repurchase — ( 100 ) — — — — ( 100 )

Settlement of forward contracts for share repurchase — 498 — — ( 498 ) — —

Electronics Separation — ( 8,567 ) — 330 — ( 267 ) ( 8,504 )

— ( 6 ) ( 19 ) — — ( 1 ) ( 26 )

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23 Segments and Geographic Regions

24 Quarterly Financial Information (Una udited)

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

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At December 31, 2025 and 2024, the maximum exposure to loss related to the nonconsolidated VIEs is not considered material to the Consolidated Financial Statements.

2025 Segment Realignment

In connection with Electronics Separation, defined below, in the fourth quarter 2025, the Company realigned its management and reporting structure.

This realignment resulted in a change in reportable segments in the fourth quarter of 2025 which changed the manner in which the Company reports financial results by segment, (the "Q4 2025 Segment Realignment").

The financial results of the former Electronics Business are reflected in the Consolidated Financial Statements as discontinued operations and the Consolidated Financial Statements have been recast for all periods presented to reflect the new two segment reporting structure as described below:

• Healthcare & Water Technologies includes high-performance packaging, parts and components for medical device and biopharma markets as well as water filtration and purification technologies primarily for industrial wastewater & energy, municipal drinking water & desalination, and life sciences & specialty markets.

• Diversified Industrials includes building technologies, with a broad portfolio serving new-build and repair/remodel applications across non-residential and residential construction markets, and industrial technologies, which includes a portfolio of adhesive, wear and friction, and packaging solutions serving aerospace, automotive and printing and packaging markets.

DWDP Distributions

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Beginning on June 3, 2019, the Company's common stock is traded on the New York Stock Exchange under the ticker symbol "DD."

Intended Electronics Separation

On May 22, 2024, DuPont announced a plan to separate each of its Electronics and Water businesses in a tax-free manner to its shareholders, (the “Previously Intended Business Separations”).

On January 15, 2025, DuPont announced it is targeting November 1, 2025, for the completion of the intended separation of the Electronics business (the “Intended Electronics Separation”).

DuPont also announced that it would retain the Water business.

The Intended Electronics Separation will not require a shareholder vote and is subject to satisfaction of customary conditions, including final approval by DuPont's Board of Directors, receipt of tax opinion from counsel, the filing and effectiveness of a Form 10 registration statement with the U.S.

Securities and Exchange Commission, applicable regulatory approvals and satisfactory completion of financing.

M&M Transactions

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The Delrin ® Divestiture and together with the M&M Divestiture, collectively the "M&M Divestitures” and the businesses in scope of the M&M Divestitures collectively the "M&M Businesses".

See Note 4 for more information.

The results of operations for the year ended December 31, 2023, present the financial results of Delrin ® as discontinued operations through November 1, 2023.

The results of operations for the year ended December 31, 2022, present the financial results of the M&M Businesses as discontinued operations.

For the year ended December 31, 2023, the Consolidated Statements of Cash Flows present the cash flows of the Delrin ® Divestiture as discontinued operations for activity.

The Consolidated Statements of Cash Flows for the year ended December 31, 2022, present the cash flows from the M&M Businesses as discontinued operations.

The comprehensive income of the M&M Businesses has not been segregated and is included in the Consolidated Statements of Comprehensive Income for all periods presented.

The comprehensive income of the M&M Businesses have not been segregated and are included in the Consolidated Statements of Comprehensive Income for all periods presented.

Unless otherwise indicated, the information in the notes to the Consolidated Financial Statements refer only to DuPont's continuing operations and do not include discussion of balances or activity of the M&M Businesses.

See Note 4 for more information.

Aramids Divestiture

On August 29, 2025, DuPont announced a definitive agreement to sell the Aramids business (the “Aramids Divestiture”) to Arclin, a portfolio company of an affiliate of TJC LP, (“TJC”), in return for pre-tax cash proceeds of approximately $ 1.2 billion, subject to customary transaction adjustments, a note receivable in the principal amount of $ 300 million and a non-controlling common equity interest (the "Aramids Equity Consideration"), valued at $ 325 million in the future Arclin holding company that will hold the Arclin global materials business and the Aramids business being divested.

The transaction is expected to close around the end of the first quarter 2026, subject to customary closing conditions and receipt of regulatory approvals.

As a result, the financial results of the Aramids business being divested are reflected in DuPont's Consolidated Financial Statements as discontinued operations, along with comparative periods.

See Note 4 for more information.

Electronics Separation

On November 1, 2025, the Company completed the separation of its semiconductor and interconnect solutions businesses, (the "Electronics Business" and the separation of the Electronics Business, the “Electronics Separation”) into an independent public company, Qnity Electronics, Inc.

(“Qnity”), by way of the distribution to DuPont's stockholders of record as of October 22, 2025, of all the issued and outstanding common stock of Qnity on November 1, 2025 (the “Qnity Distribution”).

In connection with the Electronics Separation, Qnity paid a cash distribution to DuPont of approximately $ 4.1 billion.

As a result, the financial results of the divested Electronics Business are reflected in DuPont's Consolidated Financial Statements as discontinued operations, along with comparative periods.

See Note 4 for more information.

Use of Estimates in Financial Statement Preparation

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For foreign entities where the local currency is the functional currency, assets and liabilities denominated in local currencies are translated into USD at end-of-period exchange rates and the resultant translation adjustments are reported, net of their related tax effects, as a component of accumulated other comprehensive loss in equity.

Assets and liabilities denominated in other than the local currency are re-measured into the local currency prior to translation into USD and the resultant exchange gains or

losses are included in income in the period in which they occur.

Assets and liabilities denominated in other than the local currency are re-measured into the local currency prior to translation into USD and the resultant exchange gains or losses are included in income in the period in which they occur.

Income and expenses are translated into USD at average exchange rates in effect during the period.

The Company changes the functional currency of its separate and distinct foreign entities only when significant changes in economic facts and circumstances indicate clearly that the functional currency has changed.

Interest Rate Swap Agreements

The Company has entered into a fixed-to-floating interest rate swap agreement to hedge changes in the fair value of the Company’s long-term debt due to interest rate movements.

Under the terms of the agreement, the Company agrees to exchange, at specified intervals, fixed for floating interest amounts based on the agreed upon notional principal amount.

The interest rate swaps are designated and carried as fair value hedges.

Fair value hedge accounting has been applied and thus, changes in the fair value of these swaps and changes in the fair value of the related hedged portion of long-term debt will be presented and will net to zero in Sundry income (expense) – net in the Consolidated Statements of Operations.

In 2024, the Company issued a notice of partial redemption concerning the associated long-term debt linked to this hedging relationship.

As a result, the Company dedesignated the hedging relationship, and fair value hedge accounting is no longer applied to these swaps.

After dedesignation, changes in fair value of these swaps are recognized directly in earnings in “Sundry income (expense) – net” in the Consolidated Statements of Operations, resulting in gains or losses that are separate from the hedged item.

In addition, the Company has entered into two forward-starting fixed-to-floating interest rate swap agreements to hedge changes in the fair value of the Company’s long-term debt resulting from interest rate movements.

These new derivatives convert fixed interest rate payments to floating rate payments.

The Company employs both the dedesignated fixed-to-floating interest rate swaps and the forward-starting fixed-to-floating interest rate swaps as economic hedges of its fixed-rate debt.

Changes in the fair value of the economic hedges, and any gains or losses from net interest settlements associated with the dedesignated swaps, are recorded in “Sundry income (expense) – net” in the Consolidated Statements of Operations.

Cash payments or receipts associated with interest rate swaps are classified as operating activities in the Consolidated Statements of Cash Flows.

Net Foreign Investment Hedge

The Company has fixed-for-fixed cross currency swaps which are designated as a net investment hedge and has made an accounting policy election to account for the net investment hedge using the spot method.

The Company has also elected to amortize the excluded components in interest expense in the related quarterly accounting period that such interest is accrued.

The cross-currency swap is marked to market at each reporting date and any unrealized gains or losses are included in unrealized currency translation adjustments within "Accumulated other comprehensive loss" ("AOCL"), net of amounts associated with excluded components which are recognized in interest expense in the Consolidated Statements of Operations.

The Company's inventories are valued at the lower of cost or net realizable value.

Elements of cost in inventories include raw materials, direct labor and manufacturing overhead.

The Company's inventories are generally accounted for under the average cost method.

Stores and supplies are valued at cost or net realizable value, whichever is lower;

cost is generally determined by the average cost method.

The Company's inventories are generally accounted for under the average cost method.

The Company establishes allowances for obsolescence of inventory based upon quality considerations and assumptions about future demand and market conditions.

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Goodwill and Other Intangible Assets

The Company records goodwill when the purchase price of a business acquisition exceeds the estimated fair value of net identified tangible and intangible assets acquired.

The Company records goodwill when the purchase price of a business acquisition exceeds the estimated fair value of net identifiable tangible and intangible assets acquired.

Goodwill is tested for impairment at the reporting unit level annually during the fourth quarter, or more frequently when events or changes in circumstances indicate that the fair value of a reporting unit has more likely than not declined below its carrying value.

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If the carrying value of a reporting unit exceeds its fair value, an impairment loss is recognized in the amount by which the carrying value of the reporting unit exceeds its fair value, limited to the amount of goodwill at the reporting unit.

The Company determines fair values for each of the reporting units using a combination of the income approach and/or market approach.

The Company determines fair values for each of the reporting units using a combination of the income approach and market approach.

Under the income approach, fair value is determined based on the net present value of estimated future cash flows, discounted at an appropriate risk-adjusted rate.

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When testing indefinite-lived intangible assets 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 indefinite-lived intangible assets is less than carrying value.

If the Company chooses not to complete a qualitative assessment for indefinite-lived intangible assets or if the initial assessment indicates that it is more likely than not that the carrying value of indefinite-lived intangible assets exceeds the fair value, additional quantitative testing is required.

Impairment exists when carrying value exceeds fair value.

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As most of the Company’s leases do not provide the lessor's implicit rate, the Company uses its incremental borrowing rate at the commencement date in determining the present value of lease payments.

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

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, and lease expense is recognized on a straight-line basis over the lease term.

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For finance leases, interest expense is recognized on the lease liability and the ROU asset is amortized over the lease term.

The Company has leases in which it is the lessor, these leases are classified as operating leases and lessor revenue and related expenses are not significant to the Company’s Consolidated Balance Sheets or Consolidated Statement of Operations.

Lease income is recorded in "Selling, general, and administrative expenses" and "Research and development expenses".

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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 or loss is reported in AOCL until it is cleared to earnings during the same period in which the hedged item affects earnings.

For derivative instruments designated as cash flow hedges, the gain or loss is reported in "Accumulated other comprehensive loss" ("AOCL") within the Consolidated Statements of Operations until it is cleared to earnings during the same period in which the hedged item affects earnings.

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 AOCL generally remains in AOCL until the item that was hedged affects earnings.

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The gain or loss will be subsequently reclassified into net earnings when the hedged net investment is either sold or substantially liquidated.

Net Foreign Investment Hedge

The Company has also elected to amortize the excluded components in interest expense in the related quarterly accounting period that such interest is accrued.

The cross-currency swap is marked to market at each reporting date and any unrealized gains or losses are included in unrealized currency translation adjustments within AOCL, net of amounts associated with excluded components which are recognized in "Interest expense" in the Consolidated Statements of Operations.

Interest Rate Swap Agreements

The Company has entered into fixed-to-floating interest rate swap agreements to hedge changes in the fair value of the Company’s long-term debt due to interest rate movements.

Derivate instruments are recognized in the Consolidated Balance Sheets at fair value.

When designated and qualifying under ASC 815, the Company applies hedge accounting where changes in the fair value of the interest swaps and changes in the fair value of the related hedged portion of long-term debt will be presented and will net to zero in "Interest expense" in the Consolidated Statements of Operations.

When a hedging relationship is dedesignated or no longer qualifies for hedge accounting, the Company continues to measure the interest rate swaps at fair value with subsequent changes in fair value of the swaps and any gains or losses from net interest settlements associated with the dedesignated swaps, are recognized directly in earnings in “Sundry income (expense) – net” in the Consolidated Statements of Operations.

Cash payments or receipts associated with interest rate swaps are classified as (operating activities) in the Consolidated Statements of Cash Flows.

Environmental Matters

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The Company recognizes revenue when its customer obtains control of promised goods or services, in an amount that reflects the consideration which the Company expects to receive in exchange for those goods or services.

To determine revenue recognition for the arrangements that the Company determines are within the scope of Revenue from Contracts with Customers (Topic 606), the Company performs the following five steps:

To determine revenue recognition for the arrangements that the Company determines are within the scope of Revenue from Contracts with Customers (ASC Topic 606), the Company performs the following five steps:

(1) identify the contract(s) with a customer, (2) identify the performance obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations in the contract, and (5) recognize revenue when (or as) the entity satisfies a performance obligation.

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Recently Adopted Accounting Guidance

In September 2022, the FASB issued Accounting Standards Update No.

2022-04, "Liabilities-Supplier Finance Programs (Subtopic 405-50)" ("ASU 2022-04") to enhance transparency about the use of supplier finance programs.

The new guidance requires that a buyer in a supplier finance program provides additional qualitative and quantitative disclosures about its program including the nature of the program, activity during the period, changes from period to period, and the potential magnitude of the program.

The amendments in ASU 2022-04 are effective for fiscal years beginning after December 15, 2022 on a retrospective basis, including interim periods within those fiscal years, except for the amendment on rollforward information which is effective prospectively for fiscal years beginning after December 15, 2023.

The Company implemented the new disclosures, other than the rollforward information, as required in the first quarter of 2023.

The rollforward information disclosures have been implemented as required for the year ended December 31, 2024.

See Note 15 for more information.

In November 2023, the FASB issued Accounting Standards Update No.

2023-07, "Segment Reporting (Topic 280):

Improvements to Reportable Segment Disclosures" ("ASU 2023-07") to improve disclosure requirements about reportable segments and address requests from investors for additional, more detailed information about a reportable segment’s expenses.

The new guidance requires disclosures of significant segment expenses regularly provided to the Chief Operating Decision Maker ("CODM") and included in reported measures of segment profit and loss.

Disclosure of the title and position of the CODM is required.

The guidance requires interim and annual disclosures about a reportable segment's profit or loss and assets.

Additionally, the guidance requires disclosure of other segment items by reportable segment including a description of its composition.

The amendments in ASU 2023-07 are effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, on a retrospective basis.

The disclosures have been implemented as required for the year ended December 31, 2024.

See Note 23 for more information.

Accounting Guidance Issued But Not Adopted at December 31, 2024

In December 2023, the FASB issued Accounting Standards Update No.

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The amendments in ASU 2023-09 are effective for fiscal years beginning after December 15, 2024, on a prospective basis.

The disclosures will be implemented as required for the Company's 2025 annual report.

The Company is currently evaluating the impact of adopting this guidance.

In March 2024, the U.S.

Securities and Exchange Commission ("SEC") adopted rules under SEC Release No.

33-11275, "The Enhancement and Standardization of Climate-Related Disclosures for Investors", which require a registrant to disclose information in annual reports and registration statements about climate-related risks that are reasonably likely to have a material impact on its business, results of operations, or financial condition.

The information would include disclosure of a registrant's greenhouse gas emissions.

In addition, certain disclosures related to severe weather events and other natural conditions will be required in a registrant’s audited financial statements.

Certain annual disclosure requirements would be effective as early as the fiscal year beginning January 1, 2025.

However, in April 2024, the SEC voluntarily stayed the final rules pending certain legal challenges.

The Company is currently evaluating the impact of these rules on its disclosures.

The disclosures have been implemented prospectively as required for the year ended December 31, 2025.

See Note 8 for more information.

Accounting Guidance Issued But Not Adopted at December 31, 2025

In November 2024, the FASB issued Accounting Standards Update No.

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The Company is currently evaluating the impact of adopting this guidance.

In September 2025, the FASB issued Accounting Standards Update No.

2025-06, “Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40):

Targeted Improvements to the Accounting for Internal-Use Software” (“ASU 2025-06”) to modernize the accounting for internal-use software costs and improve operability of the guidance across different software development project stages.

The amendments in ASU 2025-06 are effective for the Company’s 2028 annual and quarterly reports;

however, early adoption is permitted.

The amendments can be applied prospectively, retrospectively, or using a modified transition approach.

The Company is currently evaluating the impact of adopting this guidance.

In September 2025, the FASB issued Accounting Standards Update No.

2025-07, “Derivatives and Hedging (Topic 815) and Revenue from Contracts with Customers (Topic 606):

Derivative Scope Refinements and Scope Clarification for Share-Based Noncash Consideration from a Customer in a Revenue Contract” (“ASU 2025-07”) to establish accounting requirements for contracts that meet the characteristics-based definition of a derivative and are not otherwise excluded from the Topic's scope.

The amendments in ASU 2025-07 are effective for the Company’s 2027 annual and quarterly reports;

however, early adoption is permitted.

The amendments can be applied prospectively or on a modified retrospective basis.

The Company is currently evaluating the impact of adopting this guidance.

NOTE 3 - ACQUISITIONS

Donatelle Plastics Acquisition

On July 28, 2024, DuPont completed the acquisition of Donatelle Plastics, LLC ("Donatelle Plastics"), for a net purchase price of $ 365 million (the "Donatelle Plastics Acquisition"), which includes immaterial adjustments for acquired cash and net working capital.

The net purchase price also includes the estimated fair value for a contingent earn-out liability of $ 40 million, further discussed below.

Donatelle Plastics is a medical device company specializing in the design, development and manufacture of medical components and devices.

Donatelle Plastics is being integrated into Industrial Solutions within the Electronics & Industrial segment.

The purchase accounting and purchase price allocation for Donatelle Plastics are substantially complete.

However, the Company continues to refine the preliminary valuation of certain acquired assets and liabilities assumed, including income tax related amounts, which could impact the amount of residual goodwill recorded.

The Company will finalize the amounts recognized as it obtains the information necessary to complete the analysis, but no later than one year from the date of the acquisition.

The provisional fair values allocated to the assets acquired and liabilities assumed on July 28, 2024 include total assets of $ 268 million and total liabilities of $ 17 million.

The goodwill acquired as part of the Donatelle Plastics Acquisition was $ 114 million resulting in total consideration of $ 365 million.

Sinochem Acquisition

On October 10, 2025, DuPont completed the acquisition of Sinochem (Ningbo) RO Memtech Co., Ltd.

("Sinochem") for a net purchase price of $ 56 million (the “Sinochem Acquisition”).

Sinochem is a reverse osmosis manufacturer in China and the Asia Pacific region.

A $ 56 million prepayment, paid with existing cash balances, was executed in September 2025 and control of the business was transferred to the Company upon completion of the acquisition.

Sinochem is a part of the Healthcare & Water Technologies segment.

The purchase accounting and purchase price allocation for Sinochem are complete.

The Company has finalized the fair values allocated to the assets acquired and liabilities assumed and the purchase allocation is considered final.

The fair values allocated to the assets acquired and liabilities assumed on October 10, 2025 include total identifiable assets of $ 51 million and total liabilities of $ 2 million.

Following the allocation of fair value to identifiable assets and liabilities, goodwill of $ 7 million was recorded.

The fair value of total assets acquired primarily includes $ 40 million of property plant and equipment.

The remaining assets acquired primarily include cash and cash equivalents.

The Company evaluated the disclosure requirements under ASC 805, Business Combinations and determined Sinochem was not considered a material business combination for purposes of disclosing either the earnings of Sinochem since the date of acquisition or supplemental pro forma information.

Donatelle Acquisition

On July 28, 2024, DuPont completed the acquisition of Donatelle Plastics, LLC and certain related real estate (together, "Donatelle"), for a net purchase price of $ 365 million (the "Donatelle Acquisition").

The net purchase price included the estimated fair value, at the acquisition date, for a contingent earn-out liability of $ 40 million, further discussed below.

Donatelle is part of the Healthcare & Water Technologies segment.

The purchase accounting and purchase price allocation for Donatelle are complete.

The Company has finalized the fair values allocated to the assets acquired and liabilities assumed and the purchase allocation is considered final.

The fair values allocated to the assets acquired and liabilities assumed on July 28, 2024 include total identifiable assets of $ 268 million and total liabilities of $ 17 million.

Following the allocation of fair value to identifiable assets and liabilities, goodwill of $ 114 million was recorded.

The fair value of total assets acquired primarily includes $ 201 million of other intangible assets and $ 36 million of property, plant and equipment.

The remaining assets acquired primarily include cash and cash equivalents and inventory.

Final determination of the fair values may result in further adjustments to these values.

The significant fair value estimates included in the provisional allocation of purchase price are discussed below.

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

Other Intangible Assets

Other intangible assets with definite lives primarily include provisional customer relationships of $ 151 million and developed technology of $ 47 million.

Other intangible assets with definite lives primarily include customer relationships of $ 151 million and developed technology of $ 47 million.

Customer relationships and developed technology have useful lives of 20 years and 15 years, respectively.

The customer-related intangible assets' estimated fair value was determined using the multi-period excess earnings method while the developed technology fair values were determined utilizing the relief from royalty method.

The excess of the consideration for Donatelle Plastics over the preliminary net fair value of assets acquired and liabilities assumed resulted in the provisional recognition of $ 114 million of goodwill, which has been assigned to the Electronics & Industrial segment.

Goodwill is primarily attributable to the optimization of the combined Electronics & Industrial segment and Donatelle Plastics businesses’ global activities across sales and manufacturing, as well as expected future customer relationships.

Donatelle Plastics goodwill will be deductible for U.S.

The excess of the consideration for Donatelle over the net fair value of assets acquired and liabilities assumed resulted in the recognition of $ 114 million of goodwill, which has been assigned to the Healthcare & Water Technologies segment.

Goodwill is primarily attributable to the optimization of the combined Healthcare & Water Technologies segment and Donatelle businesses’ global activities across sales and manufacturing, as well as expected future customer relationships.

The goodwill associated with the acquisition of Donatelle is deductible for U.S.

tax purposes.

Contingent Earn-out Liability

The purchase agreement includes annual contingent earn-out payments based upon customer specific revenue generated through December 31, 2029, with total accumulated earn-out payments of up to $ 85 million.

The transaction agreement for the Donatelle Acquisition includes annual contingent earn-out payments based upon customer specific revenue generated through December 31, 2029, with total accumulated earn-out payments of up to $ 85 million.

The contingent earn-out liability was measured using a Monte Carlo simulation and the primary assumption used is the estimated likelihood the customer specific revenue is earned.

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The fair value of the contingent earn-out liability is sensitive to changes in the interest rates, discount rates and the timing of the future payments, which are based upon estimates of future achievement of the customer specific revenue.

Changes in the fair value of the contingent earn-out liability will be recognized in "Sundry income (expense), net" in the Consolidated Statements of Operations.

As of December 31, 2024, the fair value of the contingent earn-out liability was $ 40 million, reflected in “Other noncurrent obligations” on the Consolidated Balance Sheets.

The Company evaluated the disclosure requirements under ASC 805, Business Combinations and determined Donatelle Plastics was not considered a material business combination for purposes of disclosing either the earnings of Donatelle Plastics since the date of acquisition or supplemental pro forma information.

The Company recognized an adjustment to reflect the latest developments in the future achievement of the customer specific revenue being earned.

For the year ended December 31, 2025, this adjustment resulted in a benefit of $ 19 million reflected in "Sundry income (expense) – net" within the Consolidated Statements of Operations.

The fair value of the contingent earn-out liability at December 31, 2025 and December 31, 2024 was $ 21 million and $ 40 million, respectively, reflected in “Other noncurrent obligations” on the Consolidated Balance Sheets.

The Company evaluated the disclosure requirements under ASC 805, Business Combinations and determined Donatelle was not considered a material business combination for purposes of disclosing either the earnings of Donatelle since the date of acquisition or supplemental pro forma information.

Spectrum Acquisition

On August 1, 2023, the Company completed the previously announced acquisition of Spectrum Plastics Group (“Spectrum”) from AEA Investors (the “Spectrum Acquisition”).

Spectrum manufactures flexible packaging products, plastic and silicone extrusions, and components for the global industrial, food and medical business sectors.

Spectrum is part of the Electronics & Industrial segment.

On August 1, 2023, the Company completed the acquisition of Spectrum Plastics Group (“Spectrum”) from AEA Investors (the “Spectrum Acquisition”).

Spectrum is primarily reported in the Healthcare Technologies business within the Healthcare & Water Technologies segment.

The net purchase price was approximately $ 1,781 million, including a net upward adjustment of approximately $ 43 million for acquired cash and net working capital, among other items.

The Company accounted for the acquisition in accordance with ASC 805, which requires the assets acquired and liabilities assumed to be recognized on the balance sheet at their fair values as of the acquisition date.

The purchase accounting and purchase price allocation for Spectrum are complete as of December 31, 2024.

In the third quarter 2024, the Company finalized the working capital settlements for an immaterial amount which impacted the residual goodwill recorded.

The Company has finalized the fair values allocated to the assets acquired and liabilities assumed and the purchase allocation is considered final.

Final determination of the fair values are presented in the following table:

The purchase accounting and purchase price allocation for Spectrum is complete.

Final fair values of the assets acquired and liabilities assumed are presented in the following table:

Spectrum Assets Acquired and Liabilities Assumed on August 1, 2023

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The determination and allocation of fair value of other intangibles assets assumed is based on various assumptions and valuation methodologies requiring considerable management judgment, including estimates based on historical information, current market data and future expectations.

The excess of the consideration for Spectrum over the net fair value of assets acquired and liabilities assumed resulted in the recognition of $ 814 million of goodwill, which has been assigned to the Electronics & Industrial segment.

Goodwill is primarily attributable to the optimization of the combined Electronics & Industrial segment and Spectrum businesses’ global activities across sales and manufacturing, as well as expected future customer relationships.

Goodwill is primarily attributable to the optimization of each segment and Spectrum businesses’ global activities across sales and manufacturing, as well as expected future customer relationships.

Spectrum goodwill will no t be deductible for U.S.

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The Company evaluated the disclosure requirements under ASC 805 and determined Spectrum was not considered a material business combination for purposes of disclosing the earnings of Spectrum since the date of acquisition or supplemental pro forma information.

Terminated Intended Rogers Corporation Acquisition

On November 1, 2022, the Company announced the termination of the agreement to acquire all the outstanding shares of Rogers Corporation (“Rogers”) for about $ 5.2 billion, as DuPont and Rogers were unable to obtain timely clearance from all the required regulators ("Terminated Intended Rogers Corporation Acquisition").

DuPont paid Rogers a termination fee of $ 162.5 million in accordance with the agreement on November 2, 2022.

The termination fee was recognized as a charge in the fourth quarter of 2022 and recorded in the "Acquisition, integration and separation costs" within the Consolidated Statements of Operations.

Acquisition, Integration and Separation Costs

Acquisition, integration and separation costs primarily consist of financial advisory, information technology, legal, accounting, consulting, other professional advisory fees and other contractual transaction payments.

For the year ended December 31, 2024, these costs were primarily related to the Previously Intended Business Separations and the Intended Electronics Separation.

For the year ended December 31, 2025, these costs were primarily related to the Electronics Separation and the Aramids Divestiture.

For the year ended December 31, 2024, these costs were primarily related to the Electronics Separation.

For the year ended December 31, 2023, these costs were primarily related to the Spectrum Acquisition.

Comparatively, for the year ended December 31, 2022, these costs were associated with the Terminated Intended Rogers Corporation Acquisition, including the $ 162.5 million termination fee, the divestiture of the Biomaterials business unit and the prior year acquisition of Laird PM.

These costs are recorded within "Acquisition, integration and separation costs" within the Consolidated Statements of Operations.

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NOTE 4 - DIVESTITURES

Electronics Separation

On November 1, 2025 (the "Distribution Date"), the Company completed the separation of its semiconductor and interconnect solutions businesses, (the "Electronics Business" and the separation of the Electronics Business, the “Electronics Separation”) into an independent public company, Qnity Electronics, Inc.

In connection with the Electronics Separation, Qnity paid a cash distribution to DuPont of approximately $ 4.1 billion.

Certain internal distributions and reorganizations, and the Qnity Distribution on November 1, 2025 qualified as tax-free transactions under the applicable sections of the U.S.

Internal Revenue Code.

The Company has determined that the Electronics Separation represents a strategic shift that has had and will have a major effect on the Company’s operations and results.

The results of operations of the Electronics Business are presented as discontinued operations as summarized below through the Distribution Date.

For the Years Ended December 31,

In millions 2025 2024 2023

Net sales $ 3,940 $ 4,335 $ 4,036

Cost of sales 2,109 2,326 2,273

Research and development expenses 277 297 285

Selling, general and administrative expenses 414 505 437

Amortization of intangibles 173 232 262

Restructuring and asset related charges - net 9 9 34

Acquisition, integration and separation costs 323 78 —

Equity in earnings of nonconsolidated affiliates 42 37 16

Sundry income (expense) - net — 31 17

Interest expense 23 — —

Income from discontinued operations before income taxes $ 654 $ 956 $ 778

Provision for income taxes on discontinued operations 141 181 166

Income from discontinued operations, net of tax $ 513 $ 775 $ 612

Income from discontinued operations attributable to noncontrolling interests 31 33 28

Income from discontinued operations attributable to DuPont stockholders, net of tax $ 482 $ 742 $ 584

The following table summarizes the major classes of assets and liabilities of the Electronics Business presented as discontinued operations as of December 31, 2024:

In millions December 31, 2024

Cash and cash equivalents $ 51

Accounts and notes receivable - net 669

Inventories 598

Prepaid and other current assets 37

Property, plant and equipment - net 1,560

Goodwill 8,252

Other intangible assets 1,654

Investments and noncurrent receivables 394

Deferred income tax assets 8

Deferred charges and other assets 154

Total assets of discontinued operations $ 13,377

Accounts payable $ 523

Income taxes payable 120

Accrued and other current liabilities 204

Deferred income tax liabilities 337

Pension and other post-employment benefits - noncurrent 85

Other noncurrent obligations 187

Total liabilities of discontinued operations $ 1,456

Agreements with Qnity Electronics, Inc.

In connection with the Qnity Distribution, DuPont has entered into certain agreements that provide for the allocation of DuPont’s assets, employees, liabilities and obligations among DuPont and Qnity, and provides a framework for DuPont’s relationship with Qnity following the Distributions.

In connection with the Electronics Separation, effective November 1, 2025, DuPont and/or certain of its affiliates entered into certain agreements with Qnity and/or certain of its affiliates, including each of the following:

• Separation and Distribution Agreement - entered into a Separation and Distribution Agreement (the "Electronics Separation and Distribution Agreement") that sets forth, among other things, the agreements between the Company and Qnity regarding the principal transactions necessary to effect the Qnity Distribution.

It also sets forth other agreements that govern certain aspects of the Company’s and Qnity’s ongoing relationship after the completion of the Qnity Distribution.

• Tax Matters Agreement - entered into a Tax Matters Agreement with Qnity (the “Electronics Tax Matters Agreement”).

The Electronics Tax Matters Agreement governs the Company’s and Qnity’s respective rights, responsibilities and obligations with respect to tax liabilities and benefits, tax attributes, the preparation and filing of tax returns, the control of audits and other tax proceedings and other matters regarding taxes.

• Employee Matters Agreement - entered into an Employee Matters Agreement with Qnity (the “Employee Matters Agreement”).

The Employee Matters Agreement identifies employees and employee-related liabilities (and attributable assets) contractually allocated (either retained, transferred and accepted, or assigned and assumed, as applicable) to the Company and Qnity as part of the Qnity Distribution and describes when and how the relevant transfers and assignments occur or will occur.

• Intellectual Property Cross-License Agreement - entered into an Intellectual Property Cross-License Agreement with Qnity, effective as of November 1, 2025 (the “IP Cross-License Agreement”).

The IP Cross-License Agreement sets forth the terms and conditions pursuant to which the Company and Qnity may use, following the Qnity Distribution, certain patents, know-how (including trade secrets), copyrights and software contractually allocated to the other party under the electronics Separation and Distribution Agreement in the conduct of their respective businesses and natural evolutions thereof.

The Company also licenses to Qnity certain engineering, safety, health and environmental standards that are contractually allocated to the Company under the Electronics Separation and Distribution Agreement and used by Qnity’s businesses as of the Distribution.

• Transition Services Agreement - entered into Transition Services Agreements with Qnity (the “Transition Services Agreements”).

Pursuant to the Transition Services Agreements, the Company is providing certain transitional services

to Qnity, and Qnity is providing certain transitional services to the Company The companies will reimburse each other for services provided.

• Legacy Liabilities Assignment Agreement - The Company entered into an assignment agreement with Qnity, effective as of November 1, 2025 (the “Legacy Liabilities Assignment Agreement”).

Pursuant to the Legacy Liabilities Assignment Agreement, the Applicable Percentage (as defined in the Electronics Separation and Distribution Agreement) of any Legacy Liabilities (as defined in that certain Letter Agreement, dated as of June 1, 2019, by and between the Company (f/k/a DowDuPont Inc.) and Corteva, Inc.

(the “Letter Agreement”) and any funding obligations of the Company under that certain Memorandum of Understanding, dated as of January 22, 2021, by and among the Company, Corteva, Inc., E.

du Pont de Nemours and Company and The Chemours Company (the "MOU"), including with respect to the funding of the escrow account thereunder, will be contractually allocated to Qnity (and for which Qnity will indemnify the Company).

For more information on the Letter Agreement and the MOU, see the discussion in Note 16.

On December 2, 2025, the Company and Qnity determined and agreed, pursuant to the Electronics Separation and Distribution Agreement, dated as of November 1, 2025, that the Applicable Percentage (as defined in the Electronics Separation and Distribution Agreement) of DuPont is 56 percent and of Qnity is 44 percent.

Indemnifications

In connection with the Qnity Distribution, Qnity and DuPont indemnify one another against certain litigation, environmental, income taxes, and other liabilities.

At December 31, 2025, DuPont had recorded related indemnification assets of $ 159 million within "Accounts and notes receivable - net" and $ 248 million within "Deferred charges and other assets" and accrued related indemnification liabilities of $ 199 million within "Accrued and other current liabilities" and $ 95 million within "Other noncurrent obligations" on the Consolidated Balance Sheets.

Aramids Divestiture

On August 29, 2025, DuPont announced a definitive agreement to sell the Aramids business (Kevlar ® and Nomex ® ), (the "Aramids Business") to TJC LP, (“TJC”), in a transaction for gross consideration of $ 1.8 billion (the “Aramids Divestiture”).

In accordance with the transaction agreement, at the closing of the Aramids Divestiture, DuPont will receive pre-tax cash proceeds of approximately $ 1.2 billion, subject to customary transaction adjustments, an interest bearing note receivable of $ 300 million, and a noncontrolling common equity interest valued at $ 325 million, which, at the date of the definitive agreement, was expected to represent an approximate 17.5 percent stake at the time of the closing in the future Arclin holding company that will hold the Arclin global materials business and the Aramids Business (the "Equity Consideration").

The transaction is expected to close around the end of the first quarter 2026, subject to customary closing conditions and receipt of regulatory approvals.

The Company has determined that the Aramids Business meets the criteria to be classified as held for sale and that the sale represents a strategic shift that will have a major effect on the Company’s operations and results.

The results of operations of the Aramids Business are presented as discontinued operations as summarized below:

For the Years Ended December 31,

In millions 2025 2024 2023

Net sales $ 1,297 $ 1,332 $ 1,418

Cost of sales 1,024 1,054 1,120

Research and development expenses 28 31 31

Selling, general and administrative expenses 48 71 80

Amortization of intangibles 43 69 71

Restructuring and asset related charges - net 75 21 13

Goodwill impairment charges 768 — 136

Acquisition, integration and separation costs 55 — —

Equity in earnings of nonconsolidated affiliates 24 29 34

Sundry income (expense) - net 2 4 5

Loss from classification to held for sale 444 — —

(Loss) income from discontinued operations before income taxes $ ( 1,162 ) $ 119 $ 6

(Benefit from) provision for income taxes on discontinued operations ( 67 ) 20 22

(Loss) income from discontinued operations, net of tax $ ( 1,095 ) $ 99 $ ( 16 )

Income from discontinued operations attributable to noncontrolling interests — — 5

(Loss) income from discontinued operations attributable to DuPont common stockholders $ ( 1,095 ) $ 99 $ ( 21 )

During the third quarter of 2025, in connection with the announcement of the Aramids Divestiture and due to the changes in facts and circumstances relevant to potential impairment triggers, the Company performed an impairment analysis on the Aramids reporting unit's equity method investments.

As a result of the analysis performed, the Company recorded pre-tax, non-cash impairment charges of $ 51 million to write-down the value of certain equity method investments.

The charge was recognized in “Restructuring and asset related charges – net” in the summarized results of discontinued operations for the year ended December 31, 2025.

Assets and liabilities classified as held for sale are required to be recorded at the lower of carrying value or fair value less costs to sell.

Included within the fair value estimate calculation was the $ 300 million note receivable at a fair value of $ 181 million, $ 325 million Equity Consideration, and estimated cash proceeds of $ 1.1 billion, net of transaction adjustments.

The fair value of the note receivable was determined using a market approach primarily based on current market interest rates for similar credit facilities and the duration of the note.

The Equity Consideration fair value was determined using a contractually agreed-upon value per the transaction agreement.

The Company determined that the estimated fair value of the Aramids business, less costs to sell, was lower than its carrying value and recorded a $ 437 million loss from classification to held for sale and a corresponding valuation allowance during the third quarter of 2025.

The Company revised the estimated fair value, less costs to sell, of the Aramids business in the fourth quarter of 2025 and recorded an additional $ 7 million loss as a result of foreign currency changes, among others.

At December 31, 2025, a valuation allowance of $ 406 million was recorded against the assets held for sale within "Assets of discontinued operations" in the Consolidated Balance Sheets.

The Company will continue to revise the estimated fair value, less costs to sell, of the Aramids business between signing and the expected closing in 2026 to account for factors such as final selling costs, market changes affecting the seller note, currency fluctuations, and any updates will impact the valuation allowance.

The following table summarizes the major classes of assets and liabilities of the Aramids Business classified as held for sale presented as discontinued operations at December 31, 2025 and December 31, 2024:

In millions December 31, 2025 December 31, 2024

Cash and cash equivalents $ 3 $ 7

Accounts and notes receivable - net 230 188

Inventories 453 402

Prepaid and other current assets 16 17

Property, plant and equipment - net 769 754

Goodwill — 754

Other intangible assets 496 538

Investments and noncurrent receivables 201 269

Deferred income tax assets 4 1

Deferred charges and other assets 90 73

Valuation allowance to adjust assets to estimated fair value less costs to sell $ ( 406 ) $ —

Total assets of discontinued operations $ 1,856 $ 3,003

Accounts payable $ 169 $ 143

Income taxes payable 8 3

Accrued and other current liabilities 60 43

Deferred income tax liabilities 33 54

Pension and other post-employment benefits - noncurrent 5 6

Other noncurrent obligations 39 26

Total liabilities of discontinued operations $ 314 $ 275

Mobility & Materials Divestitures

On November 1, 2022, (the "Transaction Date") DuPont completed the previously announced divestiture of the majority of the historic Mobility & Materials segment, including the Engineering Polymers business line and select product lines within the Advanced Solutions and Performance Resins business lines (the “M&M Divestiture”).

The Company had previously entered into a Transaction Agreement (the "Transaction Agreement") with Celanese Corporation ("Celanese") on February 17, 2022, for consideration of $ 11.0 billion.

Cash received on the Transaction Date, as adjusted for preliminary and other adjustments, was $ 11.0 billion.

These adjustments include approximately $ 500 million of cash transferred with the M&M Divestiture business for which DuPont was reimbursed at closing resulting in net proceeds of $ 10.5 billion.

On November 1, 2022, DuPont completed the previously announced divestiture of the majority of the historic Mobility & Materials segment, including the Engineering Polymers business line and select product lines within the Advanced Solutions and Performance Resins business lines (the “M&M Divestiture”).

The Company also announced on February 18, 2022, that its Board of Directors approved the divestiture of the Delrin ® acetal homopolymer (H-POM) business, subject to entry into a definitive agreement and satisfaction of customary closing conditions, (the Delrin ® business together with the M&M Divestiture businesses, the "M&M Businesses”).

On November 1, 2023, the Company closed the sale of the Delrin ® business to TJC LP ("TJC"), (the “Delrin ® Divestiture”).

DuPont received cash proceeds of approximately $ 1.28 billion, which includes certain customary transaction adjustments, a note receivable in the amount of $ 350 million and acquired a 19.9 percent non-controlling equity interest in Derby Group Holdings LLC, (“Derby”).

DuPont received cash proceeds of approximately $ 1.28 billion, which includes certain customary transaction adjustments, a note receivable in the amount of $ 350 million and acquired a 19.9 percent noncontrolling equity interest in Derby Group Holdings LLC, (“Derby”).

The customary transaction adjustments primarily relate to $ 27 million of cash transferred with the Delrin ® Divestiture for which DuPont was reimbursed at closing resulting in net cash proceeds of $ 1.25 billion.

TJC, through its subsidiaries, holds the 80.1 percent controlling interest in Derby.

The Company accounts for its equity interest in Derby as an equity method investment based upon its non-controlling equity interest, its $ 350 million intra-entity note receivable owed by an indirect, wholly owned subsidiary of Derby and its representation on the Derby board of directors.

The Company accounts for its equity interest in Derby as an equity method investment based upon its noncontrolling equity interest, its $ 350 million intra-entity note receivable owed by an indirect, wholly owned subsidiary of Derby and its representation on the Derby board of directors.

The note receivable has a maturity date of November 2031.

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The Company determined the sales of the M&M Businesses represent a strategic shift that has a major effect on the Company’s operations and results.

For the years ended December 31, 2023 and 2022 the Company recognized an after-tax gain of $ 480 million and $ 5 billion, respectively, recorded in " (Loss) income from discontinued operations, net of tax " in the Company's Consolidated Statement Operations.

For the years ended December 31, 2023 the Company recognized an after-tax gain of $ 480 million recorded in " (Loss) income from discontinued operations, net of tax " in the Company's Consolidated Statement Operations.

For the year ended December 31, 2023, $ 419 million is related to the gain on the sale of Delrin ® , which is included in the Consolidated Statements of Cash Flows.

The results of operations of the M&M Businesses are presented as discontinued operations as summarized below for all periods.

The M&M Divestiture is reflected through the Transaction Date and the Delrin® Divestiture is reflected through November 1, 2023:

For the Years Ended December 31,

In millions 2023 2022

The Delrin ® Divestiture is reflected through November 1, 2023:

For the Year Ended December 31, 2023

Net sales $ 460

2 unchanged sentences

Selling, general and administrative expenses 2

Amortization of intangibles — 28

Acquisition, integration and separation costs 1

Equity in earnings of nonconsolidated affiliates — ( 9 )

Sundry income (expense) - net 9

(Loss) income from discontinued operations before income taxes $ ( 26 ) $ 59

Loss from discontinued operations before income taxes $ ( 26 )

Provision for income taxes on discontinued operations 31

(Loss) income from discontinued operations, net of tax $ ( 57 ) $ ( 69 )

Net (loss) income from discontinued operations attributable to noncontrolling interests — ( 4 )

Loss from discontinued operations, net of tax $ ( 57 )

Gain on sale, net of tax 2

Income from discontinued operations attributable to DuPont stockholders, net of tax $ 423 $ 4,959

Includes costs related to the M&M Divestitures for all periods presented.

Income from discontinued operations attributable to DuPont common stockholders $ 423

Includes costs related to the M&M Divestitures.

Gain includes purchase price adjustments related to the M&M Divestitures in 2023.

During the first quarter of 2022 after meeting the criteria to be classified as held for sale, the Company performed impairment analyses and allocated goodwill to the M&M Divestiture and Delrin® disposal groups and no impairments were identified.

Refer to Note 14 for additional information.

During each reporting period that the M&M Divestiture and Delrin® disposal groups were classified as held for sale, the Company assessed whether the fair value less cost to sell were less than the carrying value of each disposal group.

Pursuant to the Transaction Agreement, liabilities and assets related to the M&M Divestiture could not be directly assumed by Celanese and as a result, transferred by way of indemnification between both parties.

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Other Discontinued Operations Activity

The Company recorded a loss from discontinued operations, net of tax, of $ 40 million and $ 71 million for the years ended December 31, 2024 and 2023, respectively, and income from discontinued operations of $ 4,856 million for the year ended December 31, 2022.

The Company recorded a loss from discontinued operations, net of tax, of $ 836 million for the year ended December 31, 2025 and income from discontinued operations, net of tax, of $ 834 million and $ 524 million for the years ended December 31, 2024 and 2023, respectively.

Discontinued operations activity consists of the following:

For the Years Ended December 31,

(Loss) Income from Discontinued Operations, Net of Tax For the Years Ended December 31,

In millions 2025 2024 2023

Electronics Separation $ 513 $ 775 $ 612

Aramids Divestiture 1

( 1,095 ) 99 ( 16 )

M&M Divestitures 2

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(Loss) income from discontinued operations, net of tax 6

$ ( 836 ) $ 834 $ 524

The year ended December 31, 2025 reflects the loss from classification to held for sale of $ 444 million and goodwill impairment charges of $ 768 million.

The year ended December 31, 2024 primarily includes separation costs and purchase price adjustments.

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du Pont de Nemours and Company ("EIDP") and the Company.

The year ended December 31, 2025 includes a charge related to the State of New Jersey legal matters discussed further in Note 16.

The year ended December 31, 2023 includes a charge related to the Water District Settlement Agreement, as defined in Note 16.

Primarily related to the DWDP Separation and Distribution Agreement and Letter Agreement between Corteva and EIDP.

Primarily related to the DWDP Separation and Distribution Agreement and Letter Agreement between Corteva and EIDP and the Electronics Separation and Distribution Agreement with Qnity.

For additional information on these matters, refer to Note 16.

The year ended December 31, 2024 includes tax indemnification activity associated with divested businesses.

In May 2022, the Company completed the sale of its Biomaterials business unit, which included the Company's equity method investment in DuPont Tate & Lyle Bio Products, to the Huafon Group.

Total consideration received related to the sale was approximately $ 240 million.

For the year ended December 31, 2022, a pre-tax gain of $ 26 million ($ 21 million net of tax) was recorded in "Sundry income (expense) - net" in the Company's Consolidated Statements of Operations.

For the year ended December 31, 2022, the results of operations of the Biomaterials business unit are reported in Corporate & Other.

The year ended December 31, 2025 amount is presented net of tax benefit of $ 90 million.

The years ended December 31, 2024 and 2023 amounts are presented net of tax provision of $ 224 million and $ 131 million, respectively.

NOTE 5 - REVENUE

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Refer to Note 23 for the breakout of net sales by geographic region.

Effective as of January 1, 2024, Electronics & Industrial realigned certain product lines that comprise its business units (Industrial Solutions, Interconnect Solutions and Semiconductor Technologies) that are intended to optimize business operations across the segment leading to enhanced value for customers and cost savings.

Effective in the fourth quarter of 2025, as a result of the separation of the Electronics Business, the Company realigned its management and reporting structure.

This realignment resulted in a change in reportable segments in the fourth quarter of 2025 which changed the manner in which the Company reports financial results by segment.

The financial results of the former Electronics business are reflected in the Consolidated Financial Statements as discontinued operations.

The Net Trade Revenue table below has been recast for all periods presented to reflect the new structure.

There was no change to total Electronics & Industrial segment net sales.

Net Trade Revenue 2025 2024 2023

(In millions) For the years ended December 31,

Industrial Solutions $ 1,922 $ 1,756 $ 1,633

Interconnect Solutions 1,822 1,688 2,045

Semiconductor Technologies 2,186 1,893 2,239

Electronics & Industrial $ 5,930 $ 5,337 $ 5,917

Safety Solutions $ 2,375 $ 2,519 $ 2,649

Shelter Solutions 1,640 1,655 1,815

Water Solutions 1,408 1,459 1,493

Water & Protection $ 5,423 $ 5,633 $ 5,957

Retained Businesses 1

$ 1,033 $ 1,098 $ 1,067

Corporate & Other $ 1,033 $ 1,098 $ 1,143

Healthcare Technologies $ 1,758 $ 1,568 $ 1,459

Water Technologies 1,475 1,408 1,460

Healthcare & Water Technologies $ 3,233 $ 2,976 $ 2,919

Industrial Technologies $ 2,003 $ 2,040 $ 1,980

Building Technologies 1,613 1,703 1,715

Diversified Industrials $ 3,616 $ 3,743 $ 3,695

Total $ 6,849 $ 6,719 $ 6,614

Net sales reflected in Retained Businesses includes the Auto Adhesives & Fluids, Multibase TM and Tedlar® businesses.

Net sales reflected in Other includes activity of the previously divested Biomaterials business.

Contract Balances

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The Company classifies deferred revenue as current or noncurrent based on the timing of when the Company expects to recognize revenue.

Revenue recognized for the years ended December 31, 2024 and 2023 from amounts included in contract liabilities at the beginning of the period was insignificant.

The Company’s contract balances consisted primarily of trade accounts receivable of $ 920 million at December 31, 2025 and $ 800 million at December 31, 2024 included in “Accounts and notes receivable – net” in the Consolidated Balance Sheets.

Deferred revenue, current and noncurrent were immaterial at December 31, 2025 and December 31, 2024.

Revenue recognized for the years ended December 31, 2025 and 2024 from amounts included in contract liabilities at the beginning of the period was immaterial.

The Company did not recognize any asset impairment charges related to contract assets during the period.

Contract Balances December 31, 2024 December 31, 2023

Accounts receivable - trade 1

$ 1,561 $ 1,543

Deferred revenue - current 2

Deferred revenue - non-current 3

Included in "Accounts and notes receivable - net" in the Consolidated Balance Sheets.

Included in "Accrued and other current liabilities" in the Consolidated Balance Sheets.

Included in "Other noncurrent obligations" in the Consolidated Balance Sheets.

NOTE 6 - RESTRUCTURING AND ASSET RELATED CHARGES - NET

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Restructuring activity consists of the following programs:

Transformational Separation-Related Restructuring Program

In March 2025, the Company approved targeted restructuring actions to streamline, right-size and optimize specific organizational structures in preparation for the Electronics Separation and the post-separation DuPont company.

The restructuring program is expected to result in total pre-tax restructuring charges from continuing operations of approximately $ 90 million, incurred beginning in the first quarter of 2025 and expected to be completed in 2026.

The Company recorded pre-tax restructuring charges of $ 69 million inception-to-date, consisting of severance and related benefit costs of $ 52 million, asset related charges of $ 12 million and $ 5 million of accelerated stock compensation expense.

The following table summarizes the charges incurred by segment related to the Transformational Separation-Related Restructuring Program:

Transformational Separation-Related Restructuring Program Charges by Segment 2025

(In millions) For the year ended December 31,

Healthcare & Water Technologies $ 15

Diversified Industrials 13

The following table summarizes the activities related to the Transformational Separation-Related Restructuring Program:

Transformational Separation-Related Restructuring Program Severance and Related Benefit Cost Asset Related Charges Total

Reserve balance at December 31, 2024 $ — $ — $ —

Restructuring charges 52 12 64

Adjustments against the reserve — ( 12 ) ( 12 )

Cash payments ( 18 ) — ( 18 )

Reserve balance at December 31, 2025

$ 34 $ — $ 34

Total liabilities related to the Transformational Separation-Related Restructuring Program were $ 34 million at December 31, 2025 recognized in "Accrued and other current liabilities" in the Consolidated Balance Sheets.

The remaining $ 5 million at December 31, 2025 is recognized in "Additional paid-in capital" in the Consolidated Balance Sheets.

The Company expects the program to be completed in 2026.

2023-2024 Restructuring Program

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In connection with the 2023-2024 Restructuring Program, the Company recorded $ 25 million of net inventory write-offs in “Cost of sales” within the Consolidated Statements of Operations for the year ended December 31, 2024.

The inventory write-offs are related to plant line closures within the Water & Protection segment.

A raw material was written down to salvage value as it was only utilizable on the closed lines which were based on outdated technology and has a limited third party resale market.

The inventory write-offs are related to plant line closures within the Healthcare & Water Technologies segment.

The raw material was written down to salvage value as it was only utilizable on the closed lines which were based on outdated technology and has a limited third party resale market.

Refer to Note 23 for significant items by segment.

1 unchanged sentence

2023-2024 Restructuring Program Charges by Segment 2025 2024 2023

(In millions) For the Year Ended December 31,

Electronics & Industrial $ 2 $ 21

Water & Protection 50 57

Corporate & Other 37 32

(In millions) For the years ended December 31,

Healthcare & Water Technologies 1

$ ( 2 ) $ 11 $ 38

Diversified Industrials 3 48 19

Corporate ( 2 ) — 32

Total $ ( 1 ) $ 59 $ 89

Amount excludes inventory write-offs recorded during 2024.

Refer to Note 23 for additional information.

The following table summarizes the activities related to the 2023-2024 Restructuring Program:

3 unchanged sentences

Reductions against the reserve ( 3 ) ( 35 ) ( 38 )

Cash payments ( 46 ) — ( 46 )

Reserve balance at December 31, 2024 $ 33 $ — $ 33

Restructuring charges ( 2 ) 1 ( 1 )

Reductions against the reserve ( 3 ) ( 55 ) ( 58 )

Adjustments against the reserve 1 ( 1 ) —

Cash payments ( 22 ) — ( 22 )

Reserve balance at December 31, 2025 $ 10 $ — $ 10

At December 31, 2024 and 2023, total liabilities related to the 2023-2024 Restructuring Program were $ 47 million and $ 79 million, respectively, for severance and related benefit costs, recognized in "Accrued and other current liabilities" in the Consolidated Balance Sheets.

Actions related to the 2023-2024 Restructuring Program are substantially complete.

At December 31, 2025 and 2024, total liabilities related to the 2023-2024 Restructuring Program were $ 10 million and $ 33 million, respectively, recognized in "Accrued and other current liabilities" in the Consolidated Balance Sheets.

The program was substantially complete by the end of 2024.

2022 Restructuring Program

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The Company recorded a pre-tax charge related to the 2022 Restructuring Program in the amount of $ 69 million inception-to-date, comprised of $ 55 million of severance and related benefit costs and asset related charges of $ 14 million.

The Company recorded pre-tax restructuring benefits of $ 2 million and charges of $ 35 million for the years ended December 31, 2024 and 2023, respectively.

The following table summarizes the charges incurred by segment related to the 2022 Restructuring Program:

2022 Restructuring Program Charges by Segment 2024 2023 2022

(In millions) For the years ended December 31,

Electronics & Industrial $ 3 $ 29 $ 23

Water & Protection — ( 2 ) 16

Corporate & Other ( 5 ) 8 22

Total $ ( 2 ) $ 35 $ 61

At December 31, 2024 and 2023, total liabilities related to the 2022 Restructuring Program were $ 1 million and $ 27 million for severance and related benefit costs, recognized in "Accrued and other current liabilities" in the Consolidated Balance Sheets.

Actions related to the 2022 Restructuring Program are substantially complete.

Equity Method Investment Impairment Related Charges

In connection with the M&M Divestitures, in the first quarter of 2022 a portion of an equity method investment was reclassified to “Assets of discontinued operations” within the Consolidated Balance Sheets.

The reclassification served as a triggering event requiring the Company to perform an impairment analysis on the retained portion of the equity method investment held within “Investments and noncurrent receivables” on the Consolidated Balance Sheets.

The fair value of the retained equity method investment was estimated using a discounted cash flow model (a form of the income approach).

The Company's assumptions in estimating fair value utilize Level 3 inputs and include projected revenue growth, gross margins, EBITDA margins, weighted average costs of capital, and terminal growth rates.

The Company determined the fair value of the retained equity method investment was below the carrying value and had no expectation the fair value would recover in the short-term due to the current economic environment.

As a result, the Company concluded the impairment was other-than-temporary and, in March 2022, recorded a pre-tax impairment charge of $ 94 million ($ 65 million net of tax) in “Restructuring and asset related charges - net” in the Consolidated Statements of Operations for the year ended December 31, 2022 related to the Electronics & Industrial segment.

No impairment was required to be recorded for the portion of the equity method investment previously included within “Assets of discontinued operations.”

The Company recorded a pre-tax restructuring benefit of $ 2 million for the year ended December 31, 2024 and charges of $ 10 million for the year ended December 31, 2023.

Other Asset Related Charges

During the fourth quarter of 2025, due to the changes in facts and circumstances relevant to potential impairment triggers, the Company performed an impairment analysis on certain fixed assets and equity method investments.

After the Electronics, Separation, the Company evaluated a previously capitalized consolidation system due to uncertainties around implementation timing, as well as potential developments and changes to technologies in the marketplace and concluded the use of the consolidation system could no longer be considered probable.

As a result, due to the specificity of the design related to the system, the Company determined that the uncompleted system had a fair value of zero and recorded a pre-tax charge of $ 73 million during the year ended December 31, 2025.

As a result of the aforementioned analysis, the Company recorded an additional pre-tax, non-cash impairment charges of $ 10 million to write-down the value of a certain equity method investment within the Healthcare & Water Technologies and Diversified Industrials segments during the year ended December 31, 2025.

On February 13, 2026, the Company committed to a plan aimed at reducing costs, streamlining operations, and aligning its organizational and cost structure with its strategic priorities.

The Company currently anticipates incurring pre-tax restructuring and other costs of approximately $ 100 million to $ 150 million, starting in the first quarter of 2026 and continuing through 2028.

NOTE 7 - SUPPLEMENTARY INFORMATION

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Net gain on divestiture and sales of other assets and investments 3

Foreign exchange gains (losses), net 3 ( 73 ) 15

Foreign exchange losses, net ( 34 ) ( 3 ) ( 77 )

Loss on debt extinguishment 4

Interest rate swap mark-to-market loss 7

( 114 ) ( 74 ) —

Interest rate swap mark-to-market gain (loss) 5

Miscellaneous income (expenses) - net 6

4 unchanged sentences

Fluctuations in interest income are due to changes in cash balances and/or changes in interest rates.

The year ended December 31, 2024 primarily reflects income related to gains on sale of intellectual property.

The year ended December 31, 2023 primarily reflects income related to a land sale within the Water & Protection segment and gain adjustments from previously divested businesses.

The year ended December 31, 2022 primarily reflects income of $ 26 million related to the gain on sale of the Biomaterials business unit and income of $ 37 million related to the sale of a land use right within the Water & Protection segment.

Reflects the loss on the partial redemption of an aggregate principal amount of the 2038 Notes.

The year ended December 31, 2023 primarily reflects income related to a land sale within the Diversified Industrials segment and gain adjustments from previously divested businesses.

The year ended December 31, 2025 includes $ 15 million of treasury transaction-related fees in addition to $ 99 million loss on debt extinguishment related to the Debt Exchange, Special Mandatory Redemption, Consent Solicitation and Tender Offer.

The year ended December 31, 2024 reflects the loss on the partial redemption of an aggregate principal amount of the 2038 Notes.

Refer to Note 15 for further details.

Includes the mark-to-market loss related to the 2022 Swaps and 2024 Swaps.

The year ended December 31, 2025, reflects the non-cash mark-to-market net gain related to the 2022 Swaps and 2024 Swaps offset by the interest settlement loss on the 2022 Swaps, while the year ended December 31, 2024, reflects non-cash mark-to-market loss related to the 2022 Swaps and 2024 Swaps and the interest settlement loss on the 2022 Swaps.

Refer to Note 21 for further details.

The year ended December 31, 2025 includes a benefit related to adjustments of the Donatelle contingent earn-out liability.

Refer to Note 3 for further details.

Cash, Cash Equivalents and Restricted Cash

At December 31, 2024 and 2023, the Company had restricted cash of $ 6 million and $ 411 million, respectively, within “Restricted cash and cash equivalents” in the Consolidated Balance Sheets.

At December 31, 2024, the Company also had $ 36 million, within "Restricted cash and cash equivalents - noncurrent", which is related to the MOU escrow account deposits.

During the second quarter 2024, the judgment related to the Water District Settlement Fund became final and therefore $ 408 million was removed from "Restricted cash and cash equivalents”.

"Cash, cash equivalents and restricted cash, end of period" in the Consolidated Statements of Cash Flows includes the following:

At December 31, 2025 and 2024, the Company had "Cash and cash equivalents" in the Consolidated Balance Sheets of $ 715 million and $ 1,792 million, respectively.

At December 31, 2025 and 2024, the Company had restricted cash of $ 42 million and $ 6 million, respectively, within “Restricted cash and cash equivalents” in the Consolidated Balance Sheets, of which $ 37 million of the balance at December 31, 2025 is attributable to the MOU cost sharing arrangement.

Additional information can be found in Note 16.

At December 31, 2025 and 2024, the Company had zero and $ 36 million, respectively, within "Restricted cash and cash equivalents - noncurrent" in the Consolidated Balance Sheets.

The balance during 2024 is attributable to the MOU cost sharing arrangement.

Within discontinued operations related to the Aramids Divestiture and the Electronics Separation the Company has $ 3 million and $ 58 million within "Cash and cash equivalents" at December 31, 2025 and 2024, respectively.

Additional information can be found in Note 4.

Accrued and Other Current Liabilities

"Accrued and other current liabilities" in the Consolidated Balance Sheets were $ 882 million at December 31, 2025 and $ 784 million at December 31, 2024.

"Accrued and other current liabilities" at December 31, 2023 includes approximately $ 405 million related to a settlement agreement further discussed in Note 16.

Accrued payroll, which is a component of "Accrued and other current liabilities" was $ 238 million at December 31, 2025 and $ 228 million at December 31, 2024.

At December 31, 2025 and December 31, 2024 the balance includes approximately $ 323 million and $ 167 million related to accrued indemnified current liabilities associated with the Electronics Separation, MOU and environmental obligations further discussed in Note 4 and Note 16.

No other component of "Accrued and other current liabilities" was more than five percent of total current liabilities at December 31, 2025 and 2024.

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(In millions) For the years ended December 31,

(Loss) income from continuing operations before income taxes

Income (loss) from continuing operations before income taxes

Domestic $ ( 217 ) $ ( 398 ) $ ( 579 )

Foreign 417 515 300

Income from continuing operations before income taxes $ 1,192 $ 504 $ 1,448

Income (loss) from continuing operations before income taxes $ 200 $ 117 $ ( 279 )

Current tax expense

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Total current tax expense $ 89 $ 305 $ 91

Deferred tax (benefit) expense

Deferred tax expense (benefit)

Federal $ 46 $ ( 103 ) $ 20

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Foreign ( 38 ) 36 ( 306 )

Total deferred tax benefit $ ( 139 ) $ ( 364 ) $ ( 204 )

Total deferred tax expense (benefit) $ 13 $ ( 92 ) $ ( 308 )

Provision for (benefit from) income taxes on continuing operations 102 213 ( 217 )

Net income from continuing operations $ 778 $ 533 $ 1,061

Net income (loss) from continuing operations $ 98 $ ( 96 ) $ ( 62 )

Reconciliation to U.S.

Statutory Rate 2025

(In millions) For the year ended December 31, Amount Percent

U.S Federal Statutory Tax Rate $ 42 21.0 %

State and Local Income Taxes, Net of Federal Income Tax Effect 1

Foreign Tax Effects

Foreign Withholding Taxes 17 8.4

Other Adjustments ( 3 ) ( 1.5 )

Enacted Changes in Tax Law or Rates 6 3.2

Other Adjustments 9 4.7

Statutory Rate Difference 7 3.5

Provision to Return ( 5 ) ( 2.5 )

Other Adjustments 1 0.6

Changes in Valuation Allowance ( 59 ) ( 29.9 )

Other Adjustments 2 1.1

Changes in Valuation Allowance 7 3.5

Nontaxable Items ( 6 ) ( 3.0 )

Provision to Return ( 8 ) ( 3.9 )

Other Adjustments 4 2.0

Statutory Rate Difference ( 11 ) ( 5.6 )

Local Tax Effects 6 3.1

Other Adjustments ( 2 ) ( 0.8 )

Other Foreign Jurisdictions 20 10.1

Effect of Cross-Border Tax Laws 2

Subpart F 19 9.4

Branch Income 8 4.0

Tax Credits ( 4 ) ( 2.0 )

Changes in Valuation Allowance ( 52 ) ( 26.6 )

Nontaxable or Nondeductible Items

Disallowed Deductions 7 3.4

Other Permanent Items 18 9.0

Changes in Unrecognized Tax Benefits 16 8.0

Other Adjustments

Deferred Tax Liability on Future Branch Income 73 36.9

Exchange Gains/(Losses) 3

Reversal of Deferred Tax Liabilities as a Result of Entity Classification Changes ( 29 ) ( 14.7 )

Goodwill Step-up ( 10 ) ( 4.8 )

Other Adjustments 4

( 7 ) ( 3.9 )

Effective Tax Rate $ 102 51.0 %

State taxes in Michigan and Minnesota make up the majority (greater than 50 percent) of the tax effect in this category.

Effect of Cross-Border Tax Laws are presented net of any related foreign tax credits.

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

Includes impacts of foreign exchange/translation adjustments.

Reconciliation to U.S.

Statutory Rate 2024 2023

(In millions) For the years ended December 31,

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federal income tax rate 21.0 % 21.0 %

Equity earning effect ( 0.4 ) ( 1.2 ) 0.2

Equity earnings effect 0.9 0.1

Foreign income taxed at rates other than the statutory U.S.

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Acquisitions, divestitures and ownership restructuring activities 1

9.0 ( 64.4 ) 2.5

Exchange gains/losses 2

1.5 ( 1.1 ) 0.4

State and local income taxes ( 10.8 ) 5.0

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Deferred Tax Balances at December 31, 2025 2024

(In millions)

Deferred tax assets:

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Primarily related to recorded tax benefits and the non-realizability of tax losses and credit carryforwards from operations in the United States, Europe and Asia Pacific.

Included in the 2024 and 2023 deferred tax asset and liability amounts above is $ 356 million and $ 410 million, respectively, of a net deferred tax liability related to the Company’s investment in DuPont Specialty Products USA, LLC, which is a partnership for U.S.

Included in the 2025 deferred tax asset and liability amounts above is $ 113 million of a net deferred tax liability related to the Company’s investment in DSP Holdco, LLC, which is a partnership for U.S.

federal income tax purposes.

The Company and its subsidiaries own in aggregate 100 percent of DuPont Specialty Products USA, LLC and the assets and liabilities of DuPont Specialty Products USA, LLC are included in the Consolidated Financial Statements of the Company.

The Company and its subsidiaries owned in aggregate 100 percent of DSP Holdco, LLC and the assets and liabilities of DSP Holdco, LLC were included in the Consolidated Financial Statements of the Company.

DSP Holdco, LLC is a newly formed entity in 2025.

Included in the 2024 deferred tax asset and liability amounts above is $ 179 million of a net deferred tax liability related to the Company’s investment in DuPont Specialty Products USA, LLC, which is a partnership for U.S.

federal income tax purposes.

The Company and its subsidiaries owned in aggregate 100 percent of DuPont Specialty Products USA, LLC and the assets and liabilities of DuPont Specialty Products USA, LLC were included in the Consolidated Financial Statements of the Company.

At December 31, 2025, DuPont Specialty Products USA, LLC is no longer a partnership for U.S.

federal income tax purposes.

Operating Loss and Tax Credit Carryforwards Deferred Tax Asset

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Total Gross Unrecognized Tax Benefits 2025 2024 2023

(In millions)

Total unrecognized tax benefits at January 1, $ 428 $ 473 $ 470

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Decreases due to expiration of statutes of limitations ( 9 ) ( 5 ) ( 9 )

Exchange (gain) loss ( 9 ) 5 ( 9 )

Divestiture of M&M — — ( 26 )

Exchange loss (gain) 16 ( 9 ) 5

Electronics Separation ( 34 ) — —

Total unrecognized tax benefits at December 31, 1

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Federal income tax jurisdiction is open back to 2012 with respect to EIDP pursuant to the DWDP Tax Matters Agreement.

Undistributed earnings of foreign subsidiaries and related companies that are deemed to be permanently invested amounted to $ 7,024 million as of December 31, 2024.

In addition to the U.S.

federal tax imposed by the Tax Cuts and Jobs Act ("The Act") on all accumulated unrepatriated earnings through December 31, 2017, The Act introduced additional U.S.

federal tax on foreign earnings, effective as of January 1, 2018.

The undistributed foreign earnings at December 31, 2024 may still be subject to certain taxes upon repatriation, primarily where foreign withholding taxes apply.

The undistributed foreign earnings of foreign subsidiaries and related companies that deemed to be permanently reinvested at December 31, 2025 may still be subject to certain taxes upon repatriation, primarily where foreign withholding taxes apply.

It is not practicable to calculate the unrecognized deferred tax liability on undistributed foreign earnings due to the complexity of the hypothetical calculation.

Intended Electronics Separation

The Company is assessing the tax consequences of the Intended Electronics Separation, which if implemented may result in certain tax attributes being realized.

The Company recorded income tax expense of $ 103 million for the year ended December 31, 2024, in connection with certain internal restructurings related to the Intended Electronics Separation.

These restructurings in certain instances relied upon legal entity and asset valuations.

The aforementioned tax expense is included in “Provision for (benefit from) income taxes on continuing operations” in the Consolidated Statements of Operations.

Income taxes paid Year Ended December 31, 2025

Total income taxes paid, net $ 127

Income taxes paid, net, for the periods ended December 31, 2024 and 2023 were $ 184 million and $ 168 million, respectively.

Income taxes paid exceeds 5% of total income taxes paid, net of refunds, in the following jurisdictions.

No individual U.S.

state represents 5% of the total income taxes paid.

Income taxes paid Year Ended December 31, 2025

Switzerland $ 9

Electronics Separation

Certain internal distributions and reorganizations, and the distribution of Qnity on November 1, 2025 qualified as tax-free transactions under the applicable sections of the U.S.

Internal Revenue Code.

If the completed distribution of Qnity, together with certain related transactions, were to fail to qualify for non-recognition treatment for U.S.

federal income tax purposes, then the Company could be subject to significant income tax liabilities.

To the extent that the Company is responsible for any income tax liabilities related to these matters, there could be a material adverse impact on the Company's business, financial condition, results of operations and cash flows in future reporting periods.

In connection with the Qnity Distribution, Qnity and DuPont indemnify one another against certain income taxes.

At December 31, 2025, DuPont had recorded related tax indemnification assets of $ 66 million within "Accounts and notes receivable - net" and $ 137 million within "Deferred charges and other assets" and accrued related indemnification liabilities of $ 198 million within "Accrued and other current liabilities" and $ 93 million within "Other noncurrent obligations" on the Consolidated Balance Sheets.

See Note 4 for additional information on the Electronics Separation.

Aramids Divestiture

The Company recorded a net income tax benefit of $ 74 million for the year ended December 31, 2025, in connection with a change in valuation allowance.

$ 13 million of the aforementioned tax benefit is included in “Income (loss) from discontinued operations, net of tax” in the Consolidated Statements of Operations.

The remaining $ 61 million of the tax benefit is included in “Provision for (benefit from) income taxes on continuing operations” in the Consolidated Statements of Operations.

See Note 4 for additional information on the Aramids Divestitures.

2023 Internal Restructurings

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M&M Divestitures

The Company recorded a net tax expense of $ 21 million and $ 127 million for the year ended December 31, 2023 and 2022, respectively, in connection with certain internal restructurings.

The Company recorded a net tax expense of $ 21 million for the year ended December 31, 2023, in connection with certain internal restructurings.

These restructurings involve both legal entities within the M&M Businesses and legal entities retained by DuPont and in certain instances relied upon legal entity valuations.

The aforementioned net tax expense is included in “Income from discontinued operations, net of tax” in the Consolidated Statements of Operations.

The aforementioned net tax expense is included in “Income (loss) from discontinued operations, net of tax” in the Consolidated Statements of Operations.

See Note 4 for additional information on the M&M Divestitures.

Laird PM Acquisition

Laird Performance Materials ("Laird PM") Acquisition

In 2021 the Company acquired Laird PM.

In connection with the integration of Laird PM, the Company completed certain internal restructurings that were determined to be tax free under the applicable sections of the Internal Revenue Code.

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federal income tax purposes, then the Company could be subject to significant tax liability.

Laird PM was part of the Electronics Business.

N&B Transaction

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2025 2024 2023

Income from continuing operations, net of tax $ 778 $ 533 $ 1,061

Income (loss) from continuing operations, net of tax $ 98 $ ( 96 ) $ ( 62 )

Net income from continuing operations attributable to noncontrolling interests 10 2 6

Income from continuing operations attributable to common stockholders $ 743 $ 494 $ 1,008

Income (loss) from continuing operations attributable to common stockholders $ 88 $ ( 98 ) $ ( 68 )

(Loss) income from discontinued operations, net of tax ( 836 ) 834 524

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(Loss) income from discontinued operations attributable to common stockholders ( 867 ) 801 491

Net income available to common stockholders $ 703 $ 423 $ 5,868

Net (loss) income available to DuPont common stockholders $ ( 779 ) $ 703 $ 423

Earnings Per Share Calculations - Basic

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2025 2024 2023

Earnings from continuing operations attributable to common stockholders $ 1.77 $ 1.10 $ 2.02

Earnings (loss) from continuing operations attributable to common stockholders $ 0.21 $ ( 0.23 ) $ ( 0.15 )

(Loss) earnings from discontinued operations, net of tax ( 2.08 ) 1.91 1.09

Earnings available to common stockholders 1

(Loss) earnings available to common stockholders 1

$ ( 1.87 ) $ 1.68 $ 0.94

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2025 2024 2023

Earnings from continuing operations attributable to common stockholders $ 1.77 $ 1.09 $ 2.02

Earnings (loss) from continuing operations attributable to common stockholders $ 0.21 $ ( 0.23 ) $ ( 0.15 )

(Loss) earnings from discontinued operations, net of tax ( 2.07 ) 1.91 1.09

Earnings available to common stockholders 1

(Loss) earnings available to common stockholders 1

$ ( 1.86 ) $ 1.68 $ 0.94

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Accounts receivable – trade 1

$ 1,534 $ 1,513

Indirect tax refunds receivable 2

Indemnified assets receivable – current 3

Income tax receivable 178 64

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That estimate is based on historical collection experience, current economic and market conditions, and review of the current status of customers' accounts.

Other includes receivables in relation to value added tax, indemnification assets, general sales tax and other taxes, and other receivables.

No individual group represents more than ten percent of total receivables.

Indirect tax refunds receivable includes receivables in relation to value added tax, general sales tax and other taxes.

The period over period increase to the indemnified assets receivable balance is a result of the Electronics Separation effective November 1, 2025.

The indemnified assets include tax and legal related matters.

Other includes different groups of receivables and no individual group represents more than ten percent of total receivables.

Accounts receivable are carried at amounts that approximate fair value.

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Total inventories $ 1,172 $ 1,130

Finished goods are presented net of obsolete inventory.

NOTE 12 - PROPERTY, PLANT AND EQUIPMENT

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See Note 4 and below for further information.

In the first quarter of 2022, the Company recorded an other-than-temporary impairment on an equity method investment.

See Note 6 for more information.

The Company's dividends received from nonconsolidated affiliates is shown in the following table:

Dividends Received from Nonconsolidated Affiliates 2024 2023 2022

(In millions) For the years ended December 31,

Dividends from nonconsolidated affiliates $ 73 $ 71 $ 103

The Company had an ownership interest in seven nonconsolidated affiliates, with ownership interest (direct and indirect) ranging from 19.9 percent to 50 percent at December 31, 2024.

Sales to nonconsolidated affiliates represented less than 2 percent of total net sales for the years ended December 31, 2024, 2023 and 2022.

Purchases from nonconsolidated affiliates represented less than 3 percent of “Cost of sales” for the years ended December 31, 2024 and 2023 and less than 4 percent for the year ended December 31, 2022.

Derby Equity Interest

As a result of the Delrin® Divestiture, on November 1, 2023, the Company received a 19.9 percent non-controlling equity interest in Derby.

The Company's dividends received from nonconsolidated affiliates is $ 1 million for the years ended December 31, 2025, 2024, and 2023.

The Company had an ownership interest in two nonconsolidated affiliates, with ownership interest (direct and indirect) ranging from 19.9 percent to 50 percent at December 31, 2025.

Sales to nonconsolidated affiliates represented less than 1 percent of total net sales for the years ended December 31, 2025 and 2024 and less than 2 percent for the year ended December 31, 2023.

There were no purchases from nonconsolidated affiliates for the years ended December 31, 2025, 2024 and 2023.

Derby Equity Interest and Note Receivable

As a result of the Delrin ® Divestiture, on November 1, 2023, the Company received a 19.9 percent noncontrolling equity interest in Derby.

As part of this transaction, DuPont received a note receivable of $ 350 million (the "Derby Note Receivable").

The financial results of Derby, subsequent to the transaction date, are included in DuPont's Consolidated Financial Statements with a three-month lag, using the equity method of accounting and with intercompany profits eliminated in accordance with DuPont’s accounting policy.

DuPont's equity interest in Derby Holdings Group is reflected in Corporate & Other.

For the year ended December 31, 2024, the Company recorded a loss of $ 7 million in "Equity in earnings of nonconsolidated affiliates" on the Consolidated Statement of Operations which includes the impact of approximately $ 17 million for transaction costs incurred by Derby and amortization expense from purchase accounting.

The carry values of the equity interest as of December 31, 2024 and 2023, were $ 117 million and $ 121 million, respectively.

The carry values of the note receivable as of December 31, 2024 and 2023, were $ 254 million and $ 228 million, respectively.

For the years ended December 31, 2024 and 2023, Company recognized non-cash interest income on the Derby Note Receivable of $ 26 million and $ 4 million, respectively, reported in "Sundry income (expense) - net" on the Consolidated Statements of Operations, and accreted to the carrying value of the note receivable.

DuPont's equity interest in Derby Holdings Group is reflected in Corporate.

For the year ended December 31, 2025 and 2024, the Company recorded a loss of $ 8 million and $ 7 million in "Equity in earnings of nonconsolidated affiliates" on the Consolidated Statement of Operations.

The carrying values of the equity interest as of December 31, 2025 and 2024, were $ 111 million and $ 117 million, respectively.

The Company recognized non-cash interest income on the Derby Note Receivable of $ 27 million and $ 26 million for the years ended December 31, 2025 and 2024, respectively.

This income was reported in "Sundry income (expense) – net" on the Consolidated Statements of Operations, and accreted to the carrying value of the note receivable.

The carrying values of the note receivable as of December 31, 2025 and 2024, were $ 265 million and $ 254 million, respectively.

NOTE 14 - GOODWILL AND OTHER INTANGIBLE ASSETS

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

Electronics & Industrial Water & Protection Corporate & Other Total

Healthcare & Water Technologies Diversified Industrials Total

Balance at December 31, 2023 $ 4,177 $ 3,480 $ 7,657

Goodwill recognized for Donatelle Acquisition 1

Goodwill recognized for Spectrum Acquisition 2

( 3 ) ( 1 ) ( 4 )

Currency Translation Adjustment ( 105 ) ( 102 ) ( 207 )

Impairment — ( 804 ) — ( 804 )

Balance at December 31, 2024 $ 4,184 $ 3,377 $ 7,561

Goodwill recognized for Donatelle Plastics Acquisition 2

Goodwill recognized for Spectrum Acquisition 1, 3

( 4 ) — — ( 4 )

Goodwill recognized for Sinochem Acquisition 3

Currency Translation Adjustment 208 139 347

Other 4 — — 4

Balance at December 31, 2025 $ 4,399 $ 3,516 $ 7,915

On August 1, 2023, DuPont completed the acquisition of Spectrum, which is included in the Electronics & Industrial segment.

See Note 3 for additional information.

On July 28, 2024, DuPont completed the acquisition of Donatelle Plastics, which is included in the Electronics & Industrial segment.

On July 28, 2024, DuPont completed the acquisition of Donatelle, which is primarily included in the Healthcare & Water Technologies segment.

See Note 3 for additional information.

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See Note 3 for additional information.

In the fourth quarter of 2025, DuPont completed the Sinochem Acquisition, which is included in the Healthcare & Water Technologies segment.

See Note 3 for additional information.

The Company tests goodwill for impairment annually during the fourth quarter, or more frequently when events or changes in circumstances indicate that the fair value is below carrying value.

As a result of the related acquisition method of accounting in connection with the DWDP Merger, EIDP’s assets and liabilities were measured at fair value resulting in increases to the Company’s goodwill and other intangible assets.

The fair value valuation increased the risk that any declines in financial projections, including changes to key assumptions, could have a material, negative impact on the fair value of the Company’s reporting units and assets, and therefore could result in an impairment.

The Company’s significant assumptions in these analyses include projected revenue growth, EBITDA margin, weighted average cost of capital and terminal growth rates and the tax rate for the income approach and projected EBITDA and derived multiples from comparable market transactions for the market approach.

could result in an impairment.

The Company’s significant assumptions in these analyses include projected revenue growth, EBITDA margins, weighted average costs of capital and terminal growth rates for the income approach and projected EBITDA and derived multiples from comparable market transactions for the market approach.

The Company's estimates of future cash flows are based on current regulatory and economic climates, recent operating results, and planned business strategies.

Should future cash flows differ materially from the Company's estimate, or should there be a future market downturn, the Company may be required to perform additional impairment analyses that could result in a non-cash goodwill impairment charge.

As part of its annual impairment test at October 1, 2024, the Company performed qualitative testing on seven of its reporting units and performed quantitative testing on one of its reporting units.

In connection with the Q1 2025 Segment Realignment, the Company realigned its operating and reportable segments which changed the composition of certain reporting units.

During the first quarter 2025, the associated reporting units' goodwill and indefinite-lived intangible assets were assessed for impairment before and after the Q1 2025 Segment Realignment, as described below.

Prior to the Q1 2025 Segment Realignment, the Company performed qualitative testing on five of its reporting units and performed quantitative testing on three of its reporting units.

The qualitative evaluation is an assessment of factors, including reporting unit or asset specific operating results and cost factors, as well as industry, market and macroeconomic conditions, to determine whether it is more likely than not (more than 50 percent) that the fair value of a reporting unit or asset is less than the respective carrying amount, including goodwill.

The results of the qualitative assessments indicated that it is not more likely than not that the fair values of the seven reporting units were less than their carrying values.

The Protection reporting unit (aggregation of the Safety and Shelter businesses), within the Water & Protection segment, was tested by applying the quantitative assessment.

The results of the qualitative assessments indicated that it was not more likely than not that the fair values of the five reporting units were less than their carrying values.

The Protection reporting unit (aggregation of the Safety and Shelter businesses), formerly within the Water & Protection segment, and the Industrial Solutions reporting unit and the Donatelle reporting unit, formerly within the Electronics & Industrial segment, were tested by applying the quantitative assessment.

The Company used a combination of discounted cash flow models (a form of the income approach) and the Guideline Public Company Method (a form of the market approach).

No impairments were identified.

The estimated fair value of the Protection reporting unit, exceeded its carrying value by approximately five percent.

Given this level of fair value, the reporting unit remains at risk for future impairment.

After the Q1 2025 Segment Realignment, the Company assessed and re-defined certain reporting units, including reallocation of goodwill on a relative fair value basis, as applicable, to reporting units impacted.

The Company performed quantitative testing on all six reporting units.

For the quantitative assessments, the Company used a combination of discounted cash flow models (a form of the income approach) and the Guideline Public Company Method (a form of the market approach).

No impairments were identified except for the Aramids reporting unit (aggregation of the Nomex ® and Kevlar ® ), formerly within the Protection reporting unit in the Water & Protection segment and now presented as discontinued operations.

As a result of the analysis performed after the Q1 2025 Segment Realignment, the Company concluded that the carrying amount of the Aramids reporting unit exceeded its fair value resulting in a non-cash goodwill impairment charge of $ 768 million.

Due to the Aramids Divestiture this charge is now reflected within discontinued operations.

As a result of the first quarter 2025 impairment charges, there is no remaining goodwill within the Aramids reporting unit.

As part of its annual impairment test at October 1, 2025, the Company performed qualitative testing on three of its reporting units and performed quantitative testing on two of its reporting units.

The results of the qualitative assessments indicated that it is not more likely than not that the fair values of the three reporting units were less than their carrying values.

The other two reporting units were tested by applying the quantitative assessment.

The Company used a combination of discounted cash flow models (a form of the income approach) and the Guideline Public Company Method (a form of the market approach).

No impairments were identified as the estimated fair value of each reporting unit exceeded its carrying value.

Should adverse impacts from macroeconomic conditions, or other events occur indicating that the estimated future cash flows of the reporting unit have declined and the reporting unit is unable to meet or exceed its projections, the Company may be required to record future non-cash impairment charges related to goodwill.

As of the date of the quantitative assessment, the carrying amount of goodwill within this reporting unit was $ 4.8 billion.

Effective as of January 1, 2024, Electronics & Industrial realigned certain of its product lines making up its lines of business (Industrial Solutions, Interconnect Solutions and Semiconductor Technologies).

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The Company’s assumptions in estimating fair value include projected revenue growth, gross margins, selling, administrative, research and development expenses ("SARD"), capital expenditures, weighted average cost of capital, terminal growth rates, and the tax rate for the income approach and projected EBITDA and derived multiples from comparable market transactions for the market approach.

In connection with the preparation of the full year 2023 financial statements, the continuation of previously disclosed challenging macroeconomic environment in the residential, non-residential, and the repair and remodel construction markets, as well as incremental channel inventory destocking in healthcare and industrial end-markets served as a triggering event requiring the Company to perform an impairment analysis of the goodwill associated with its Protection reporting unit as of December 31, 2023 As a result of the analysis performed, the Company concluded that the carrying amount of the Protection reporting unit exceeded its fair value resulting in a non-cash goodwill impairment charge of $ 804 million, which is recorded within “Goodwill impairment charge” on the Consolidated Statements of Operations for the year ended December 31, 2023.

As a result of the analysis performed, the Company concluded that the carrying amount of the Protection reporting unit exceeded its fair value resulting in a non-cash goodwill impairment charge from continuing operations of $ 668 million, which is recorded within “Goodwill impairment charge” on the Consolidated Statements of Operations for the year ended December 31, 2023.

Other Intangible Assets

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Total $ 5,139 $ ( 2,203 ) $ 2,936 $ 5,193 $ ( 2,015 ) $ 3,178

During the fiscal year 2024, the Company retired fully amortized assets of $ 145 million of developed technology intangible assets and $ 27 million of trademarks/tradename intangible assets.

During the fiscal year 2023, the Company retired fully amortized assets of $ 399 million of customer-related intangible assets and $ 25 million of other intangible assets.

During the fiscal year 2025, the Company retired fully amortized assets of $ 155 million of developed technology intangible assets.

During the fiscal year 2024, the Company retired fully amortized assets of $ 35 million of developed technology intangible assets.

The following table provides the net carrying value of other intangible assets:

Net Intangibles December 31, 2024 December 31, 2023

Electronics & Industrial 1

$ 3,337 $ 3,521

Water & Protection 1,957 2,206

Corporate & Other 76 87

Net Intangibles by Segment December 31, 2025 December 31, 2024

Healthcare & Water Technologies $ 1,824 $ 1,962

Diversified Industrials 1,112 1,216

Total $ 2,936 $ 3,178

1.Includes intangible assets acquired as part of the Donatelle and Spectrum Acquisitions.

See Note 3 for additional information.

Total estimated amortization expense for the next five fiscal years is as follows:

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Short-Term Borrowings December 31, 2025 December 31, 2024

(In millions)

Commercial paper 1

Long-term debt due within one year 2

The weighted-average interest rate on commercial paper was 3.95 % at December 31, 2025.

Presented net of current portion of unamortized debt issuance costs.

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Total $ 3,134 $ 5,323

Represents senior unsecured notes (the "2018 Senior Notes"), which are senior unsecured obligations of the Company.

Includes an unamortized basis adjustment of $ 48 million related to the dedesignation of the Company's interest rate swap agreements and a fair value hedging adjustment of $ 59 million, related to the Company's interest rate swap agreements at December 31, 2024 and 2023, respectively.

Represents senior unsecured obligations of the Company (the remaining Existing Notes and the 2028 New Notes, defined below).

Includes an unamortized basis adjustment of $ 35 million and $ 48 million related to the dedesignation of the Company's interest rate swap agreements at December 31, 2025 and 2024, respectively, and a fair value hedging adjustment of $ 4 million, related to the Company's interest rate swap agreements at December 31, 2025.

See Note 21 for additional information.

In June 2024, the company partially redeemed $ 650 million aggregate principal amount of 2038 Notes at the redemption price set forth in the indenture of the 2038 Notes.

The Company funded the repayment with cash on hand.

Further details are discussed below.

In November 2023, the $ 300 million Floating Rate Senior Unsecured Notes matured and was repaid at par plus the accrued and unpaid interest.

The Company funded the repayment with cash on hand.

At December 31, 2025, the $ 76 million of unamortized debt discount and issuance costs is comprised of original unamortized issue fees of $ 21 million and additional capitalized unamortized fees of $ 55 million related to the Debt Exchange, Consent Solicitation and Tender Offer.

Principal payments of long-term debt for the five succeeding fiscal years are as follows:

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Total Committed and Available Credit Facilities $ 3,000 $ 2,984

In July 2022, the Company drew down $ 600 million under the 2022 $ 1 B Revolving Credit Facility in order to facilitate certain intercompany internal restructurings related to the M&M Divestiture.

The Company repaid the borrowing in September 2022.

Debt Exchange

In September 2025, in connection with the contemplated Electronics Separation, DuPont announced the commencement of offers to exchange any and all of its outstanding (i) 4.725 % Notes due 2028, (ii) 5.319 % Notes due 2038 and (iii) 5.419 % Notes due 2048 (respectively, the “2028 Notes”, the “2038 Notes” and the “2048 Notes” and collectively, the “Existing Notes” all issued in 2018) for new notes to be issued by DuPont (respectively, the “2028 New Notes”, the “2038 New Notes” and the “2048 New Notes” and collectively the “New Notes” and the exchanges of notes, collectively, the “Exchange Offers”).

DuPont solicited consents from eligible holders of each series of Existing Notes (collectively, the “Consent Solicitations”) to adopt certain proposed amendments to the indenture governing the Existing Notes to eliminate substantially all of the restrictive covenants and amend certain other provisions in such indenture with respect to each series of Existing Notes.

The Exchange Offers expired on September 30, 2025 with all validly tendered 2028 Notes accepted for exchange, totaling approximately $ 1.58 billion, representing 70.42 % of the outstanding amount.

Therefore, sufficient consent was validly obtained on the 2028 Notes, and the proposed amendments were adopted.

Sufficient consents to the proposed amendments were not received for the 2038 and 2048 Notes.

The exchange offer was settled in October 2025 and in connection with the settlement of the Exchange Offers, DuPont issued $ 1.58 billion aggregate principal amount of the 2028 New Notes in exchange for the 2028 Notes tendered and accepted by DuPont, approximately $ 226 million aggregate principal amount of 2038 New Notes in exchange for the 2038 Notes tendered and accepted by DuPont and approximately $ 295 million aggregate principal amount of 2048 New Notes in exchange for the 2048 Notes tendered and accepted by DuPont.

Each series of the New Notes provides for special mandatory redemption as discussed below.

Each series of the New Notes has the same interest rate, interest payment dates, maturity date and optional redemption provisions as the applicable series of Existing Notes;

provided that the methodology for calculating any make-whole redemption price for the New Notes reflects the Securities Industry and Financial Markets Association model provisions.

Interest is payable on the 2028 New Notes, 2038 New Notes and 2048 New Notes on May 15 and November 15 of each year beginning on May 15, 2025, until its maturity date of November 15, 2028, November 15, 2038 and November 15 2048, respectively.

Upon the completion of the Electronics Separation, the special mandatory redemption event was triggered under each series of New Notes (the "Special Mandatory Redemption Event").

As a result, DuPont was required to redeem $ 900 million principal amount of the 2028 New Notes, approximately $ 226 million principal amount of the 2038 New Notes and approximately $ 295 million principal amount of the 2048 New Notes (such redemption the "Special Mandatory Redemption").

The Company sent redemption notices to the holders of the New Notes on November 3, 2025 and the Special Mandatory Redemption was completed on November 7, 2025.

Consent Solicitation and Tender Offer

In November 2025, DuPont entered into a transaction support agreement (the “Transaction Support Agreement”) with certain noteholders (the “Supporting Holders”) that beneficially own $ 649 million (or approximately 83.9 %) of the 2038 Notes and $ 1,118 million (or approximately 60.25 %) of the 2048 Notes.

DuPont agreed to launch and the Supporting Holders agreed to provide their consents with respect to their 2038 Notes and 2048 Notes in support of a solicitation of consents (the “Consent Solicitation”) with respect to the adoption of certain proposed amendments to the Indenture governing the applicable series of 2038 Notes and 2048 Notes and to tender $ 1,029 million aggregate principal amount of their 2048 Notes into a tender offer (the “Tender Offer”) to purchase for cash up to $ 739 million aggregate principal amount of the 2048 Notes (the "Tender Cap") at a purchase price equal to $ 1,000 per $1,000 aggregate principal amount of 2048 Notes plus accrued and unpaid interest (if any) thereon to, but excluding, the applicable settlement date of the Tender Offer.

The requisite consents to adopt the proposed amendments were received and the Tender Offer was completed in November 2025.

As a result of the Tender Offer, in November 2025, DuPont settled $ 739 million aggregate principal of the 2048 Notes.

The Exchange Offers and Consent Solicitation were accounted for as debt modifications and all creditor fees paid were capitalized and were set to amortize as an adjustment to “Interest expense” in the Consolidated Statement of Operations over the remaining term of the Existing Notes and New Notes.

As a result of the Special Mandatory Redemption Event and Tender Offer, the respective Existing Notes and New Notes redeemed were derecognized at their carrying value.

Related to the above activities, the Company incurred a loss of approximately $ 114 million to “Sundry income (expense) – net” in the Consolidated Statements of Operations, which consisted of the redemption premium, third party fees, write-off of deferred debt issuance costs, including capitalized creditor fees incurred as part of the Exchange Offers and Consent Solicitation and the basis adjustment from fair value hedge accounting on the Company’s interest rate swap agreements associated with the redeemed bonds.

Qnity Financing

In August 2025, Qnity, a wholly-owned subsidiary of DuPont, issued $ 1.0 billion aggregate principal amount of 5.750 % senior secured notes due 2032 (the “Qnity Secured Notes”) and $ 750 million aggregate principal amount of 6.250 % senior unsecured notes due 2033 (the “Qnity Unsecured Notes,” and together with the Secured Notes, the “Qnity Notes”).

Qnity also issued and fully allocated a senior secured revolving credit facility for $ 1.25 billion due 2030 and a senior secured term loan facility for $ 2.35 billion due 2032 in the third quarter 2025 (the “Qnity Credit Facilities”).

The Qnity Credit Facilities became effective immediately prior to the Electronics Separation.

Qnity used the net proceeds from the Qnity Notes, together with borrowings under the Credit Facilities and cash on hand, to finance the payment of a cash distribution to DuPont of approximately $ 4.1 billion, inclusive of financing related fees plus the pre-funded accrued interest deposit in connection with the issuance of notes (and any investment returns thereon).

The gross proceeds held in escrow were released in connection with the completion of the Qnity Spin-Off on November 1, 2025.

The obligations and liabilities associated with the Qnity Notes and the Qnity Credit Facilities were separated from the Company on November 1, 2025 upon consummation of the Qnity Distribution.

2024 Capital Structure Actions

DuPont, with its advisors, is evaluating considerations related to the design of the capital structures for the Previously Intended Business Separations and the Intended Electronics Separation.

On June 5, 2024, DuPont issued a notice of redemption to the bond trustee with respect to a partial redemption of $ 650 million aggregate principal amount of its 2038 notes, (the "2038 Notes") in accordance with their terms.

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See Note 21 for further detail on the dedesignation of the Company's interest rate swap agreements.

Floating Rate Senior Unsecured Notes

In November 2023, the $ 300 million Floating Rate Senior Unsecured Notes matured and was repaid at par plus the accrued and unpaid interest.

The Company funded the repayment with cash on hand.

Fixed Rate Senior Unsecured Notes

In November 2025, the $ 1,850 million Fixed Rate Senior Unsecured Notes matured and was repaid at par plus the accrued and unpaid interest.

The Company funded the repayment with cash proceeds from the Electronics Separation.

Revolving Credit Facilities

On May 8, 2024, the Company entered into a $ 1 billion 364-day revolving credit facility (the "2024 $ 1 B Revolving Credit Facility").

Prior to entering the new facility, the Company held another $ 1 billion 364-day revolving credit facility, entered into on May 10, 2023, (the "2023 364-Day Revolving Credit Facility").

There were no drawdowns of either facility during the year ended December 31, 2024.

On April 12, 2022, the Company entered into a new $ 2.5 billion five-year revolving credit facility (the " Five -Year Revolving Credit Facility").

The Five-Year Revolving Credit Facility is generally expected to remain undrawn and serve as a backstop to the Company's commercial paper and letter of credit issuance.

In May 2025, the Company entered into a $ 1 billion 364-day revolving credit facility (the "2025 $ 1 B Revolving Credit Facility").

The Company held another $ 1 billion 364-day revolving credit facility which expired in May 2025.

There were no drawdowns under either facility during the year ended December 31, 2025.

The 2025 $ 1 B Revolving Credit Facility will be used for general corporate purposes.

In May 2025, the Company amended its $ 2.5 billion 5-year revolving credit facility to extend the maturity date to April 2028 (the " Five-Year Revolving Credit Facility").

Upon the completion of the Electronics Separation, the amended facility decreased to $ 2.0 billion.

Commercial Paper

In April 2022, DuPont downsized its authorized commercial paper program from $ 3.0 billion to $ 2.5 billion (the “DuPont Commercial Paper Program”).

In 2025 upon occurrence of the Electronics Separation, the Company reduced its authorized commercial paper program to $ 2.0 billion.

At December 31, 2024 and 2023, the Company had no issuances outstanding of commercial paper.

At December 31, 2025, the Company had $ 60 million outstanding of commercial paper.

Uncommitted Credit Facilities and Outstanding Letters of Credit

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The Company's indenture covenants include customary limitations on liens, sale and leaseback transactions, and mergers and consolidations, subject to certain limitations.

The 2018 Senior Notes also contain customary default provisions.

The Existing Notes and 2028 New Notes also contain customary default provisions.

The Five-Year Revolving Credit Facility and the 2025 $ 1 B Revolving Credit Facility contain a financial covenant requiring that the ratio of Total Indebtedness to Total Capitalization for the Company and its consolidated subsidiaries not exceed 0.60 .

At December 31, 2025, the Company was in compliance with this financial covenant.

There were no material changes to the debt covenants and default provisions at December 31, 2024.

Supplier Financing

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The amount of invoices outstanding confirmed as valid under the supplier financing programs are shown in the table below and recorded in “ Accounts payable ” in the Consolidated Balance Sheets.

The following table summarizes the outstanding obligations confirmed as valid under the supplier financing programs for the year ended December 31, 2024:

The following table summarizes the outstanding obligations confirmed as valid under the supplier financing programs for the years ended December 31, 2025 and 2024:

Supplier Financing Program Activity Amount

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Confirmed obligations outstanding as of December 31, 2024 $ 69

Invoices confirmed to financial institutions 237

Confirmed invoices paid to financial institution ( 244 )

Foreign currency exchange impact 1

Confirmed obligations outstanding as of December 31, 2025

NOTE 16 - COMMITMENTS AND CONTINGENT LIABILITIES

Litigation, Environmental Matters, and Indemnifications

The Company and certain subsidiaries are involved in various lawsuits, claims and environmental actions that have arisen in the normal course of business with respect to product liability, patent infringement, governmental regulation, contract and commercial litigation, as well as possible obligations to investigate and mitigate the effects on the environment of the disposal or release of certain substances at various sites.

The Company and certain subsidiaries are involved in various lawsuits, claims and environmental actions that have arisen in the normal course of business with respect to product liability, patent infringement, government regulation, contract and commercial litigation, as well as possible obligations to investigate and mitigate the effects on the environment of the disposal or release of certain substances at various sites.

In addition, in connection with divestitures and the related transactions, the Company from time to time has indemnified and has been indemnified by third parties against certain liabilities that may arise in connection with, among other things, business activities prior to the completion of the respective transactions.

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As of December 31, 2025, the Company has recorded indemnification assets of $ 216 million within "Accounts and notes receivable - net" and $ 397 million within "Deferred charges and other assets" and indemnification liabilities of $ 323 million within "Accrued and other current liabilities" and $ 291 million within "Other noncurrent obligations" within the Consolidated Balance Sheets.

As of December 31, 2023, the Company has recorded indemnified assets of $ 21 million within "Accounts and notes receivable - net" and $ 242 million within "Deferred charges and other assets" and indemnified liabilities of $ 200 million within "Accrued and other current liabilities" and $ 263 million within "Other noncurrent obligations" within the Consolidated Balance Sheets.

As of December 31, 2024, the Company has recorded indemnification assets of $ 20 million within "Accounts and notes receivable – net" and $ 298 million within "Deferred charges and other assets" and indemnification liabilities of $ 167 million within "Accrued and other current liabilities" and $ 208 million within "Other noncurrent obligations" within the Consolidated Balance Sheets.

The increase in indemnification assets primarily reflects the allocation of certain liabilities to Qnity based on Qnity's Applicable Percentage of 44 percent.

See Note 4 for further information.

The increase in indemnification liabilities is primarily driven by the NJ Settlement, discussed below, and the Company's obligation to indemnify Qnity for certain tax related liabilities in accordance with the Electronics Tax Matters Agreement between Qnity and DuPont.

See Note 8 for further information.

The Company’s accruals for indemnification liabilities related to the binding Memorandum of Understanding (“MOU”) between Chemours, Corteva, EIDP and the Company and to the DowDuPont ("DWDP") Separation and Distribution Agreement and the Letter Agreement between the Company and Corteva (together the “Agreements”) discussed below, are included in the balances above.

Additionally, beginning in Q2 2025, the Company recognized a liability, estimated in accordance with the MOU, related to the State of New Jersey matters discussed below.

As of December 31, 2025 the balance of this liability is $ 186 million.

PFAS Stray Liabilities:

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On July 1, 2015, EIDP, a Corteva subsidiary since June 1, 2019, completed the separation of EIDP’s Performance Chemicals segment through the spin-off of Chemours to holders of EIDP common stock (the “Chemours Separation”).

On June 1, 2019, the Company completed the separation of its agriculture business through the spin-off of Corteva, Inc.

(“Corteva”), including Corteva’s subsidiary EIDP.

On June 1, 2019, the Company completed the separation of its agriculture business through the spin-off of Corteva, including Corteva’s subsidiary EIDP.

On January 22, 2021, the Company, Corteva, EIDP and Chemours entered into the MOU pursuant to which the parties have agreed to release certain claims that had been raised by Chemours including any claims arising out of or resulting from the process and manner in which EIDP structured or conducted the Chemours Separation, and any other claims that challenge the Chemours Separation or the assumption of Chemours Liabilities (as defined in the Chemours Separation Agreement) by Chemours and the allocation thereof, subject in each case to certain exceptions set forth in the MOU.

Pursuant to the MOU, the parties have agreed to share certain costs associated with potential future liabilities related to alleged historical releases of certain PFAS out of pre-July 1, 2015 conduct (“eligible PFAS costs”) until the earlier to occur of (i) December 31, 2040, (ii) the day on which the aggregate amount of Qualified Spend, as defined in the MOU, is equal to $ 4 billion or (iii) a termination in accordance with the terms of the MOU.

Pursuant to the MOU, the parties have agreed to share certain costs associated with potential future liabilities related to alleged historical releases of certain PFAS out of pre-July 1, 2015 conduct (“eligible PFAS costs”) until the earlier to occur of (i) December 31, 2040, (ii) the day on which the aggregate amount of Qualified Spend, as defined in the MOU, is equal to $ 4 billion ("MOU limit") or (iii) a termination in accordance with the terms of the MOU.

PFAS refers to per- or polyfluoroalkyl substances, which include perfluorooctanoic acids and its ammonium salts (“PFOA”).

The parties have agreed that, during the term of this sharing arrangement, Qualified Spend up to $ 4 billion will be borne 50 percent by Chemours and 50 percent, up to a cap of $ 2 billion, by the Company and Corteva.

The parties have agreed that, during the term of this sharing arrangement, Qualified Spend up to $ 4 billion will be borne 50 percent by Chemours and 50 percent, up to a MOU limit of $ 2 billion, by the Company and Corteva.

The Company and Corteva will split their 50 percent of Qualified Spend in accordance with the Agreements;

accordingly, the Company's portion of the $ 2 billion is approximately $ 1.4 billion.

At December 31, 2024, the Company had paid Qualified Spend of approximately $ 605 million against its portion of the $ 2 billion cap.

accordingly, the Company's portion of the $ 2 billion MOU limit is approximately $ 1.4 billion.

At December 31, 2025, the Company had paid Qualified Spend of approximately $ 700 million against its portion of the $ 2 billion MOU limit.

In August 2025, Chemours, Corteva and DuPont have agreed to count the net present value of the settlement under the proposed Judicial Consent Order with the State of New Jersey, as discussed further below, against the $ 4 billion MOU limit.

In addition, the parties agreed that relevant insurance proceeds received by a party will be netted against applicable costs included in the calculation of Qualified Spend.

After the term of this arrangement, Chemours’ indemnification obligations under the Chemours Separation Agreement would continue unchanged.

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Subject to the terms and conditions set forth in the MOU, each party may be permitted to defer funding in any calendar year beginning with 2022 through and including 2028.

Additionally, if on December 31, 2028, the balance in the MOU Escrow Account (including interest) is less than $ 700 million, Chemours will make 50 percent of the deposits and DuPont and Corteva

together will make 50 percent of the deposits necessary to restore the balance to $ 700 million.

Additionally, if on December 31, 2028, the balance in the MOU Escrow Account (including interest) is less than $ 700 million, Chemours will make 50 percent of the deposits and DuPont and Corteva together will make 50 percent of the deposits necessary to restore the balance to $ 700 million.

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

At December 31, 2024, each of Chemours, Corteva and DuPont have made additional deposits into the MOU Escrow Account totaling $ 100 million in the aggregate.

DuPont's aggregate MOU escrow deposits of $ 35 million, not including interest, at December 31, 2024 are reflected in "Restricted cash and cash equivalents - noncurrent" on the Consolidated Balance Sheets.

DuPont's aggregate MOU escrow deposits of $ 35 million, not including interest, at December 31, 2025 are reflected in "Restricted cash and cash equivalents" on the Consolidated Balance Sheets.

Under the Agreements, Divested Operations and Businesses ("DDOB") liabilities of EIDP not allocated to or retained by Corteva or the Company are categorized as relating to either (i) PFAS Stray Liabilities, if they arise out of actions related to or resulting from the development, testing, manufacture or sale of PFAS;

or (ii) Non-PFAS Stray Liabilities, (and together with PFAS Stray Liabilities, the “EIDP Stray Liabilities”).

The Agreements provide that the Company and Corteva will each bear a certain percentage of the Indemnifiable Losses, described below, rising from EIDP Stray Liabilities and that the percentage changes upon each company meeting its respective threshold of $ 150 million for PFAS Stray Liabilities and $ 200 million for EIDP Stray Liabilities.

In addition, for certain Non-PFAS Liabilities, (“Specified Spend Non-PFAS Liabilities”), Corteva must spend specified amounts before costs associated with such matter will be considered Indemnifiable Losses.

The Agreements provide that the Company and Corteva each bear 50 percent of the first $ 300 million ($ 150 million) of total Indemnifiable Losses related to PFAS Stray Liabilities.

In 2023, the companies met their respective $ 150 million threshold, and as a result the Company bears 71 percent of Indemnifiable Losses related to PFAS Stray Liabilities and Corteva bears 29 percent.

At December 31, 2024, DuPont has accrued for future Qualified Spend and Indemnifiable Losses related to PFAS Stray Liabilities accordingly.

The $ 150 million of Indemnifiable Losses incurred for PFAS Stray Liabilities has been credited against each company’s $ 200 million threshold.

Corteva has met its $ 200 million threshold.

As a result, until the Company meets its $ 200 million threshold, it is responsible for managing the Non-PFAS Stray Liabilities, excluding Specified Spend Non-PFAS Liabilities for which Corteva has not reached its specified spend amount, and is bearing all Indemnifiable Losses associated with such Non-PFAS Stray Liabilities.

DuPont met its $ 200 million threshold by December 31, 2024 and as a result, the Company will bear 71 percent and Corteva will bear 29 percent of Indemnifiable Losses related to Non-PFAS Stray Liabilities.

At December 31, 2024, the Company has accrued for future Indemnifiable Losses related to Non-PFAS Stray Liabilities, including Specified Spend Non-PFAS Liabilities, accordingly.

The Agreements provide that the Company and Corteva will each bear a certain percentage of the Indemnifiable Losses, described below, rising from EIDP Stray Liabilities and that the percentage changes as each company meets its respective threshold of $ 150 million for PFAS Stray Liabilities and $ 200 million for EIDP Stray Liabilities inclusive of Indemnifiable Losses of up to $ 150 million related to PFAS Stray Liabilities.

The agreements provide that when all threshold are met, DuPont will bear 71 percent of Indemnifiable Losses related to EIDP Stray Liabilities and Corteva bears 29 percent.

All thresholds have been met at December 31, 2025.

DuPont has accrued for future Indemnifiable Losses related to EIDP Stray Liabilities and Qualified Spend accordingly.

Indemnifiable Losses, as defined in the DWDP Separation and Distribution Agreement, include, among other things, attorneys’, accountants’, consultants’ and other professionals’ fees and expenses incurred in the investigation or defense of EIDP Stray Liabilities.

For certain Non-PFAS Liabilities, Corteva must spend specified amounts before costs associated with such matter will be considered Indemnifiable Losses.

In connection with the MOU and the Agreements, the Company has recognized the following indemnification liabilities related to eligible PFAS costs:

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Total indemnification liabilities accrued under the MOU 1, 2

As of December 31, 2024 and 2023, total indemnified liabilities accrued include $ 128 million and $ 139 million, respectively, related to Chemours environmental remediation activities at their site in Fayetteville, North Carolina under the Consent Order between Chemours and the North Carolina Department of Environmental Quality (the "NC DEQ").

In addition to the above, beginning the second quarter of 2023, the Company recognized a liability related to the Water District Settlement Agreement, defined below, between Chemours, Corteva, EIDP and DuPont related to the aqueous film-forming foams multi-district litigation.

The judgment became final in April 2024, therefore $ 408 million, including interest, is reflected as a cash outflow within cash flows from discontinued operations for the year ended December 31, 2024.

Future charges associated with the MOU will be recognized over the term of the agreement as a component of income from discontinued operations to the extent liabilities become probable and estimable.

In 2004 EIDP's reached a settlement in Leach v.

DuPont de Nemours & Co.

, which gave certain residents in Ohio and West Virginia standing to pursue personal injury claims for just six health conditions that an expert panel appointed under the Leach 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 filed in Ohio and West Virginia state and federal courts, were consolidated in multi-district litigation in the U.S.

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

In 2017, Chemours and EIDP settled the Ohio MDL for $ 670 million.

Post the 2017 settlement, approximately 100 additional cases were filed.

EIDP and Chemours settled all but one of these cases in 2021 for $ 83 million with each of the Company and EIDP contributing $ 27 million and Chemours contributing $ 29 million.

The remaining case resulted in a jury verdict for the plaintiff which has been paid.

The Company was not a defendant but made its share of the payment in accordance with the Agreements and MOU.

Since that time, Plaintiffs’ counsel had approximately 70 cases that were, or were to be, filed in the Ohio MDL.

Prior to the start of the first trial in September 2024, EIDP and Chemours entered into an agreement in principle providing for settlement for all pending cases in the MDL as well as additional pre-suit claims.

On September 6, 2024, the parties accepted a mediator’s proposal, and the trials were postponed.

The parties ultimately entered into a settlement agreement on November 13, 2024 (“2024 Settlement”).

The agreement included two payments to be made, the first for approximately $ 30 million, due upon receiving the dismissals for all the approximately 73 known filed and unfiled cases.

A second payment of $ 29 million is contingent upon the court's order dissolving the Ohio MDL.

In December 2024, the plaintiffs delivered dismissals for all cases, and filed a motion with the court to terminate the Ohio MDL and DuPont satisfied its portion ($ 11 million) of the first payment.

DuPont has also recorded a charge of $ 10 million, representing its portion of the contingent second payment, which is accrued for as of December 31, 2024.

On February 11, 2025, the court recommended a termination of the Ohio MDL.

The second payment will become due if the panel overseeing the Ohio MDL accepts the court's recommendation.

As of December 31, 2025 and 2024, total indemnification liabilities accrued include $ 109 million and $ 128 million, respectively, related to Chemours environmental remediation activities at their site in Fayetteville, North Carolina under the Consent Order between Chemours and the North Carolina Department of Environmental Quality (the "NC DEQ").

This excludes amounts related to the State of New Jersey matters discussed further below.

As of December 31, 2025, DuPont has recorded an indemnification asset of $ 75 million, net of taxes, for Qnity's applicable percentage of liabilities associated with the MOU.

Future charges associated with the MOU will be recognized over the term of the agreement as a component of (loss)/income from discontinued operations to the extent liabilities become probable and estimable.

In 2004, EIDP settled the Leach litigation, which allowed certain Ohio and West Virginia residents to pursue personal injury claims for six health conditions that an expert panel later found had a “probable link” to PFOA.

Following those findings, approximately 3,550 lawsuits were consolidated in multidistrict litigation in the Southern District of Ohio, (the “Ohio MDL”) which Chemours and EIDP resolved in 2017 for $ 670 million.

After that settlement, roughly 100 additional cases were filed, nearly all of which were resolved in 2021 for $ 83 million.

Thereafter, plaintiffs filed about 70 new cases in the Ohio MDL.

Before trials began in 2024, EIDP and Chemours reached an agreement in principle to resolve all pending and certain pre‑suit claims.

The parties finalized this settlement in November 2024, providing for two payments totaling approximately $ 59 million.

DuPont paid $ 11 million toward the initial payment in December 2024 and accrued $ 10 million for its share of the contingent second payment, which was finalized and paid in March 2025.

Following these dismissals, the Ohio MDL was terminated in February 2025.

Any future personal injury claims will proceed in the courts where they are filed.

In November 2023, DuPont, Chemours and Corteva (for itself and EIDP) reached a settlement agreement with the State of Ohio designed to benefit Ohio's natural resources and the people of the State of Ohio.

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As part of the settlement, the companies agreed to pay the State of Ohio a combined total of $ 110 million, 80 percent of which the State has allocated to restoration of natural resources related to operation of the Washington Works facility.

The settlement will become effective and payable, upon resolution of the appeals process and entry of final judgment by the court.

Consistent with the MOU, DuPont's share of the settlement will be approximately $ 39 million, which is accrued for as of December 31, 2024.

Consistent with the MOU, DuPont accrued its share of the settlement, approximately $ 39 million.

In the fourth quarter of 2025, DuPont, Chemours and Corteva agreed to pay 80 percent of the settlement of which DuPont's portion is approximately $ 32 million.

DuPont has accrued the remaining $ 7 million at December 31, 2025.

In July 2021, Chemours, Corteva (for itself and EIDP) and DuPont reached a resolution with the State of Delaware for $ 50 million among other consideration, that avoids litigation and addresses potential natural resources damages from known historical and current releases by the companies in or affecting Delaware.

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DuPont's share was $ 13 million.

The settlement provides for a potential Supplemental Payment to Delaware up to a total of $ 25 million, if certain conditions are met.

As a result, upon the above described settlement with the State of Ohio reached in November 2023 becoming effective, a Supplemental Payment will be owed to the State of Delaware and paid in accordance to the terms of the MOU.

The Company has accrued $ 9 million as of December 31, 2024 related to the Supplemental Payment.

The settlement provides for a potential Supplemental Payment to Delaware of up to a total of $ 25 million if certain conditions are met.

The Company’s portion of the Settlement Payment, in accordance to the terms of the MOU, is $ 9 million which is accrued for as of December 31, 2025.

The Supplemental Payment conditions were met with the payment of 80 percent of the November 2023 settlement with the State of Ohio and DuPont paid its portion of the Supplemental Payment in January 2026.

As of December 31, 2025, there are various cases alleging damages due to PFAS which are discussed below.

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The matters pending in the AFFF MDL allege damages as a result of contamination, in most cases allegedly from migration from airports or military installations, or personal injury from exposure to AFFF.

The plaintiffs in the MDL include, among others, water districts, individuals and states attorneys general.

The plaintiffs in the MDL include, among others, water districts, individuals alleging personal injury and states attorneys general.

DuPont has never made or sold AFFF, perfluorooctanesulfonic acid ("PFOS") or PFOS-containing products, and most of the actions in the AFFF MDL name DuPont as a defendant solely related to fraudulent transfer claims related to the Chemours Separation and the DowDuPont separations.

On June 30, 2023, Chemours, Corteva, EIDP and DuPont entered a definitive agreement to resolve for $ 1.185 billion in cash all PFAS-related claims of a defined class of U.S.

public water systems, including claims that are part of the AFFF MDL, (the “Water District Settlement Agreement”).

DuPont paid its $ 400 million contribution into the Water District Settlement Fund in the third quarter 2023.

That payment included $ 100 million that DuPont had deposited into the MOU Escrow Account as of June 30, 2023.

The Company’s total contribution, including interest, of $ 408 million has been removed from "Restricted cash and cash equivalents - current" along with the associated "Accrued and other current liabilities" within the Consolidated Balance Sheets as of December 31, 2024, as the settlement became final in the second quarter 2024.

DuPont's aggregate MOU escrow deposits of $ 405 million, including interest, at December 31, 2023 is reflected in "Restricted cash and cash equivalents - noncurrent" on the Consolidated Balance Sheets.

The Water District Settlement's defined class is composed of all Public Water Systems, as defined in 42 U.S.C § 300f, with a current detection of PFAS and all Public Water Systems, that are currently required to monitor for PFAS under the EPA’s Fifth Unregulated Contaminant Monitoring Rule (“UCMR 5”) or other applicable federal or state law.

The class does not include water systems owned and operated by a State or the United States government or small systems that have not detected PFAS and are not currently required to monitor for it under federal or state requirements.

While it is reasonably possible that the excluded systems or claims could result in additional future lawsuits, claims, assessments or proceedings, it is not possible to predict the outcome of any such matters, and as such, the Company is unable to develop an estimate of a possible loss or range of losses, if any, at this time.

As part of the approval process, the Court established, among other things, a mechanism for class members to submit requests to be excluded from the settlement.

Approximately 900 of 14,167 entities on the list of potential class members submitted timely requests for exclusion.

The time has passed for any further entities to opt out.

AFFF MDL Water District Settlement

In June 2023, Chemours, Corteva, EIDP, and DuPont entered into a $ 1.185 billion agreement to resolve PFAS‑related claims brought by a nationwide class of public water systems.

DuPont fulfilled its $ 400 million funding obligation in the third quarter of 2023, which included $ 100 million previously held in escrow.

Following final court approval in the second quarter of 2024, DuPont’s total contribution of $ 408 million, including interest, was released from restricted cash and the related liability was removed from the Company’s balance sheet.

The settlement class includes U.S.

Public Water Systems with current PFAS detections or required monitoring under federal or state law, but excludes governmental systems and small systems without PFAS detections or monitoring requirements.

While excluded entities could pursue future claims, the Company cannot estimate any potential losses.

As part of the court‑approved process, approximately 900 of the more than 14,000 potential class members opted out of the settlement, and the opt‑out period has closed.

AFFF MDL Personal Injury Cases

The Court ordered the dismissal of personal injury claims by September 10, 2024, that do not meet certain evidentiary requirements unless they allege one of the following eight health conditions:

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Cases that are dismissed pursuant to the Court’s order may be re-filed within four years if plaintiffs later meet the evidentiary requirements specified in the Court’s order.

There are about 5,200 personal injury cases currently pending in the AFFF MDL reflecting confirmed dismissals under the Court’s order and any newly filed cases.

The Company expects additional personal injury cases – which include claims that identify one of the eight health conditions – will continue to be filed into the AFFF MDL.

The 25 bellwether personal injury cases have been further narrowed to a group of Tier 2 bellwether plaintiffs.

The Tier 2 bellwether plaintiffs include nine cases that allege harm from kidney cancer, testicular cancer, ulcerative colitis, or thyroid disease.

The court has set the first Tier 2 trial to occur on October 6, 2025.

The trial will include a case or cases from Pennsylvania that allege harm from either kidney cancer or testicular cancer.

In the first quarter 2025, Plaintiffs’ counsel notified the Court that claims alleging high cholesterol and/or pregnancy-induced hypertension, will not be pursued.

In August 2025, to ensure efficient management of the docket and proper vetting of claims the court entered a case management order that, among other things:

(1) indefinitely postponed the bellwether trial that was scheduled for October 20, 2025;

and (2) required lead plaintiffs’ counsel to file in the AFFF MDL all of the unfiled cases on their client roster within 21 days.

The court also entered a “channeling order” that states AFFF and other PFAS are so intermingled in the environment that virtually any case alleging personal injury from PFAS necessarily raises the question of whether the claimant was also exposed to AFFF, which should provide a basis for federal court jurisdiction.

The channeling order therefore requests the JPML transfer such cases to the AFFF MDL for efficient administration.

As anticipated, these orders have resulted in a substantial number of new matters being filed into the AFFF MDL.

Consolidating personal injury cases into the AFFF MDL, rather than allowing them to proceed in diverse jurisdictions, allows for the Company to more effectively manage this docket.

At December 31, 2025 there are approximately 11,000 personal injury cases filed in the AFFF MDL.

Many of the personal injury cases have included and continue to include multiple plaintiffs and, therefore, the number of plaintiffs who have asserted such claims is substantially higher than the number of cases noted above.

Defendants will continue to review the docket and will move to dismiss claims that do not allege one of the identified health conditions.

Defendants also continue to engage in discussions with a mediator in connection with these cases.

Some state attorneys general have filed lawsuits, on behalf of their respective states, against DuPont, outside of the AFFF MDL that allege environmental contamination by certain PFAS compounds distinct from AFFF.

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Most of these actions include fraudulent transfer claims related to the Chemours Separation and the DowDuPont separations.

State of New Jersey

In August 2025, DuPont together with Chemours and Corteva (for itself and EIDP) agreed to a proposed Judicial Consent Order with the State of New Jersey (the “NJ Settlement”) to resolve all outstanding claims by the State of New Jersey pending against the companies related to 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 approval from the Federal District Court of New Jersey (Camden), (the “NJ Court”), the Settlement will also resolve legacy claims related to four historic EIDP operating sites (Chambers Works, Parlin, Pompton Lakes and Repauno) in the State, including claims under the New Jersey Industrial Sites Recovery Act, alleged statewide PFAS contamination, including from the use of AFFF, any claims of fraudulent transfer, and claims for known natural resource damages from the Chambers Works, Parlin, Pompton Lakes and Repauno sites that the State of New Jersey and its departments have, or may have, in the future against the companies.

The NJ Settlement includes an aggregate cash payment to the State of New Jersey of $ 875 million, payable over a period of 25 years, which will be shared in accordance with the terms of the 2021 binding MOU between Chemours, Corteva and DuPont.

Of the $ 875 million, $ 16.5 million is allocated to statewide natural resource damages unrelated to the four sites, 25 percent of which (about $ 4.125 million) relates to alleged statewide AFFF contamination.

Accordingly, DuPont recorded a pre-tax charge in June 2025 of $ 177 million, reflected as discontinued operations in the Company's Consolidated Statement of Operations, reflecting the net present value, using an 8 percent discount rate, of $ 311 million which is estimated to be the Company’s share of the cash payment in accordance with the MOU.

DuPont has recorded interest accretion of $ 9 million for the year ended December 31, 2025, resulting in a liability of $ 186 million as of December 31, 2025.

The first of the scheduled annual payments will be due within 30 days of the date the Judicial Consent Order (“JCO”) is entered by the NJ Court, but no earlier than January 31, 2026.

At December 31, 2025, $ 66 million is recorded in "Accrued and other current liabilities" and the remaining $ 120 million is recorded within "Other noncurrent obligations" within the Consolidated Balance Sheets.

The Company intends to utilize the $ 35 million within the MOU Escrow Account for the first settlement payment in 2026.

The parties have the right to prepay Settlement amounts at the discount rate set forth in the NJ Settlement agreement.

In addition to the cash payment, the NJ Settlement obligates the companies to continue to undertake remediation at the four sites, which will be determined in accordance with applicable law.

Refer to the Environmental Matters section below.

The NJ Settlement provides that the Company does not admit any liability or wrongdoing and does not waive any defenses.

The NJ Settlement is subject to a public notice and comment period which closed on November 1, 2025.

At a hearing on January 7, 2026, the State of New Jersey moved for the final approval of the settlement.

The Court requested the State of New Jersey to provide additional information within 30 calendar days regarding the settlement, including its intended use of the proceeds.

Contingent upon the NJ Settlement being approved by the NJ Court, DuPont and Corteva will purchase Chemours’ interest in future, if any, insurance proceeds related to PFAS claims.

DuPont and Corteva will make the purchase by contributing a total of $ 150 million ($ 106.5 million from DuPont, $ 43.5 million from Corteva) into an escrow fund ("NJ Escrow") to be applied to Chemours’ share of the NJ settlement.

In exchange, Chemours shall assign to DuPont and Corteva its rights to $ 150 million of PFAS-related insurance proceeds plus a fee equal to the lesser of (a) $ 35 million, or (b) $ 3 million plus interest (at prime minus 2 percent) on the unrecovered fraction of $ 150 million, until Chemours’ share of insurance recoveries fully recoups the purchase price.

After DuPont and Corteva have recovered the $ 150 million assigned by Chemours, plus the above fee, Chemours shall be entitled to its 50 percent share of further insurance recoveries, if any.

The purchase price shall be paid, and the insurance proceeds recovered, by DuPont and Corteva in accordance with the sharing percentages in the Letter Agreement.

NJ Settlement payments or releases from the NJ Escrow to make Settlement payments, as applicable, shall be deemed credited against each of DuPont, Corteva and Chemours’s respective PFAS MOU escrow obligations for that year.

Each of DuPont, Corteva and Chemours’s 2025 PFAS MOU escrow funding obligation will be suspended until the first payment of the NJ Settlement.

Other Matters

In April 2021, a historic DuPont Dutch subsidiary and the Dutch entities of Chemours and Corteva, received a civil summons issued by the Court of Rotterdam, the Netherlands, on behalf of four municipalities neighboring the Chemours Dordrecht facility.

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The LOI contemplates the possibility of settling the court dispute, although still subject to further discussions which are ongoing with the municipalities and there is no guarantee that these discussions will result in a settlement.

Although the Company believes a loss is probable, it is not estimable.

As of December 31, 2025, an accrual has been established for the Company's estimated portion of the loss associated with this matter.

Additionally, there are cases in Canada that allege harm from PFAS contamination including property and natural resource damage claims, both related and unrelated to AFFF.

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Accruals for environmental matters are recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated based on current law and existing technologies.

The NJ Settlement obligates the companies to continue to undertake remediation at the four sites (Chambers Works, Parlin, Pompton Lakes and Repauno), which will be determined in accordance with applicable law.

DuPont is the primary responsible party for the Parlin site and established an accrual related to Parlin’s remediation obligations in connection with the DowDuPont merger and separation and does not anticipate recording additional charges for these remediation activities at this time.

However, as part of the NJ Settlement, the companies have agreed to a binding third party review process of the remedial funding source (“RFS”) for each of the four sites (in the form of surety bond or similar financial instrument) to ensure available funds for future remediation at the sites, with DuPont responsible for the RFS at Parlin.

This review process could result in additional remediation, and an increase to any of the four RFS, including for Parlin which could result in future changes to the Company’s environmental reserve estimates.

In addition, DuPont and Corteva will establish a reserve fund in the amount of $ 475 million (the “Reserve Fund”) to be funded (in the form of surety bond or similar financial instrument) in accordance with the sharing percentages in the Letter Agreement entered between the parties in 2019.

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

At December 31, 2025, the Company had accrued obligations of $ 253 million for probable environmental remediation and restoration costs.

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Environmental remediation indemnified related liabilities:

Indemnifications related to Dow and Corteva 2

Indemnifications related to Dow, Corteva and Qnity 2

MOU related obligations (discussed above) 3

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The environmental accrual represents management’s best estimate of the costs for remediation and restoration with respect to environmental matters, although it is reasonably possible that the ultimate cost with respect to these particular matters could range above the amount accrued as of December 31, 2025.

Pursuant to the DWDP Separation and Distribution Agreement and Letter Agreement, the Company is required to indemnify Dow and Corteva for certain Non-PFAS clean-up responsibilities and associated remediation costs.

Pursuant to the DWDP Separation and Distribution Agreement and Letter Agreement, the Company is required to indemnify Dow and Corteva, and pursuant to the Electronics Separation and Distribution Agreement, Qnity, for certain clean-up responsibilities and associated remediation costs.

The MOU related obligations include the Company's estimate of its liability under the MOU for remediation activities based on the current regulatory environment.

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Total lease cost $ 106 $ 93 $ 92

Variable lease cost excludes costs that have been capitalized into inventory of approximately $ 60 million in each year presented.

Reflects income associated with subleases, not inclusive of all lessor arrangements disclosed below.

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Maturities of lease liabilities were as follows:

Maturity of Lease Liabilities at December 31, 2024 Operating Leases

Maturity of Lease Liabilities at December 31, 2025

Operating Leases

2031 and thereafter 61

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Present value of lease liabilities $ 217

The Company has leases in which it is the lessor, with the largest being a result of the N&B Transaction.

In connection with the N&B Transaction and the M&M Divestitures, DuPont entered into leasing arrangements with IFF and Celanese, whereby DuPont is leasing certain properties, including office spaces and R&D laboratories.

These leases are classified as operating leases and lessor revenue and related expenses are not significant to the Company’s Consolidated Balance Sheets or Consolidated Statement of Operations.

The Company has leases in which it is the lessor, with the largest being a result of the Electronics Separation and N&B Transaction.

In connection with the Electronics Separation, N&B Transaction and the M&M Divestitures, DuPont entered into leasing arrangements with Qnity, IFF and Celanese, whereby DuPont is leasing certain properties, including office spaces and R&D laboratories.

These leases are classified as operating leases.

Lease agreements where the Company is the lessor have final expirations through 2040.

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In November 2022, DuPont entered into accelerated share repurchase ("ASR") agreements with each of three financial institutions (the "$ 3.25 B ASR Transaction").

DuPont paid an aggregate of approximately $ 3.25 billion of common stock with $ 250 million of such repurchases under the 2022 Share Buyback Program and the remaining $ 3 billion under the $ 5 B Share Buyback Program.

Pursuant to the terms of the $ 3.25 B ASR Transaction, DuPont paid an aggregate of $ 3.25 billion to the ASR Counterparties and received initial deliveries of 38.8 million shares in aggregate of DuPont common stock, which were retired immediately and recorded as a reduction to retained earnings of $ 2.6 billion.

DuPont paid an aggregate of approximately $ 3.25 billion of common stock with $ 250 million of such repurchases under the 2022 Share Buyback Program and $ 3 billion under the $ 5 B Share Buyback Program.

The $ 3.25 B ASR Transaction was completed during the third quarter of 2023 with DuPont receiving and retiring an additional 8.0 million shares of DuPont common stock.

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In the third quarter of 2023, DuPont entered into new accelerated share repurchase agreements with three financial counterparties to repurchase an aggregate of $ 2 billion of common stock ("$ 2 B ASR Transaction").

DuPont paid an aggregate of $ 2 billion to the counterparties and received initial deliveries of 21.2 million shares in aggregate of DuPont common stock, which were retired immediately and recorded as a reduction to retained earnings of $ 1.6 billion.

In the first quarter of 2024, the $ 2 B ASR Transaction was completed.

The settlement resulted in the delivery of 6.7 million additional shares of DuPont common stock, which were retired immediately and will be recorded as a reduction of retained earnings in the first quarter of 2024.

The settlement resulted in the delivery of 6.7 million additional shares of DuPont common stock, which were retired immediately and was recorded as an increase to accumulated deficit in the first quarter of 2024.

In total, the Company repurchased 27.9 million shares at an average price of $ 71.67 per share under the $ 2 B ASR Transaction.

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Under the $ 1 B Share Buyback Program, repurchases may be made from time to time on the open market at prevailing market prices or in privately negotiated transactions off market, including additional ASR agreements in accordance with applicable federal securities laws.

The $ 1 B Program terminates on June 30, 2025, unless extended or shortened by the Board of Directors.

Also in the first quarter 2024, DuPont entered an ASR agreement with one counterparty for the repurchase of about $ 500 million of common stock ("Q1 2024 ASR Transaction").

DuPont paid an aggregate of $ 500 million to the counterparty and received initial deliveries of 6.0 million shares of DuPont common stock, which were retired immediately and recorded as a reduction of retained earnings of $ 400 million.

The remaining $ 100 million was evaluated as an unsettled forward contract indexed to DuPont common stock, classified within stockholders' equity as of March 31, 2024.

In the second quarter of 2024, the Q1 2024 ASR Transaction was completed.

The settlement resulted in the delivery of approximately 1.0 million additional shares of DuPont common stock, which were retired immediately and recorded as a reduction of retained earnings of $ 72 million.

The settlement resulted in the delivery of approximately 1.0 million additional shares of DuPont common stock, which were retired immediately and recorded as an increase to accumulated deficit of $ 72 million.

In total, the Company repurchased 6.9 million shares at an average price of $ 71.96 per share under the Q1 2024 ASR Transaction.

The $ 1 B Program expired on June 30, 2025.

In November 2025, the Company's Board of Directors approved a new share repurchase authorization of up to $ 2 billion of common stock (the “$ 2 B Authorization”).

Under the $ 2 B Authorization, repurchases may be made from time to time on the open market at prevailing market prices or in privately negotiated transactions off market, which may include accelerated share repurchase transactions.

The $ 2 B Authorization will terminate once the authorized amount of shares have been repurchased and retired or when terminated by the Board of Directors.

The timing and number of shares to be repurchased will depend on factors such as the share price, economic and market conditions, and corporate and regulatory requirements.

In the fourth quarter of 2025, DuPont entered into an ASR agreement with one counterparty for repurchase of about $ 500 million of common stock ("Q4 2025 ASR Transaction").

DuPont paid an aggregate of $ 500 million to the counterparty,

whereby the counterparty is required to deliver a variable number of shares to the Company.

DuPont received initial deliveries of 10.2 million shares of DuPont common stock at a price per share of $ 39.15 , which were retired immediately and recorded as an increase to accumulated deficit of $ 400 million.

In January 2026, the Q4 2025 ASR Transaction was completed.

The settlement resulted in delivery of approximately 2 million shares of additional DuPont common stock which were retired immediately and will be recorded as an increase to accumulated deficit in the first quarter of 2026.

In total, the Company repurchased 12.2 million shares at an average price of $ 40.89 per share under the Q4 2025 ASR Transaction.

The Inflation Reduction Act of 2022 introduced a 1 percent nondeductible excise tax imposed on the net value of certain stock repurchases made after December 31, 2022.

The net value is determined by the fair market value of the stock repurchased during the tax year, reduced by the fair market value of stock issued during the tax year.

The Company recorded total excise tax of $ 8 million and $ 21 million, respectively, as a reduction to retained earnings for the years ended December 31, 2024 and 2023, reflected within stockholders' equity and a corresponding liability within "Accounts Payable" in our Consolidated Balance Sheets as of December 31, 2024 and 2023.

The Company recorded total excise tax of $ 4 million and $ 8 million, respectively, as an increase to accumulated deficit for the years ended December 31, 2025 and 2024, reflected within stockholders' equity and a corresponding liability within "Accounts Payable" in our Consolidated Balance Sheets as of December 31, 2025 and 2024.

The following table provides a reconciliation of DuPont Common Stock activity for the years ended December 31, 2025, 2024 and 2023:

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Balance at December 31, 2025 409,195 —

Retained Earnings

Accumulated Deficit

There are no significant restrictions limiting the Company's ability to pay dividends.

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Dividends paid to common stockholders $ 597 $ 635 $ 651

Undistributed earnings of nonconsolidated affiliates included in retained earnings were $ 626 million at December 31, 2024 and $ 637 million at December 31, 2023.

Loss from nonconsolidated affiliates included within "Accumulated deficit" was $ 10 million at December 31, 2025 and undistributed earnings of nonconsolidated affiliates, included within "Accumulated deficit" was $ 3 million at December 31, 2024.

Accumulated Other Comprehensive Loss

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Balance at January 1, 2023 $ ( 968 ) $ 60 $ 117 $ ( 791 )

Other comprehensive (loss) income before reclassifications ( 1,101 ) 44 61 ( 996 )

Amounts reclassified from accumulated other comprehensive income — ( 3 ) — ( 3 )

M&M Divestiture reclassification adjustment 221 ( 54 ) — 167

Net other comprehensive (loss) income $ ( 880 ) $ ( 13 ) $ 61 $ ( 832 )

Balance at December 31, 2022 $ ( 968 ) $ 60 $ 117 $ ( 791 )

Other comprehensive income (loss) before reclassifications 46 ( 83 ) ( 41 ) ( 78 )

Other comprehensive income (loss) income before reclassifications 46 ( 83 ) ( 41 ) ( 78 )

Amounts reclassified from accumulated other comprehensive income — ( 9 ) — ( 9 )

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Balance at December 31, 2024 $ ( 1,493 ) $ ( 115 ) $ 108 $ ( 1,500 )

Other comprehensive income (loss) before reclassifications 728 ( 7 ) ( 71 ) 650

Amounts reclassified from accumulated other comprehensive income — ( 5 ) — ( 5 )

Net other comprehensive income (loss) $ 728 $ ( 12 ) $ ( 71 ) $ 645

Electronics Separation 328 2 — 330

Balance at December 31, 2025 $ ( 437 ) $ ( 125 ) $ 37 $ ( 525 )

Includes cumulative translation adjustment impact associated with derivative instruments.

The tax effects on the net activity related to each component of other comprehensive income (loss) for the years ended December 31, 2024, 2023 and 2022 were as follows:

The tax effects on the net activity related to each component of other comprehensive loss for the years ended December 31, 2025, 2024 and 2023 were as follows:

Tax Benefit (Expense) 2025 2024 2023

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Pension and other post-employment benefit plans ( 6 ) ( 2 ) ( 35 ) See (1) below

Tax expense (benefit) 1 3 14 See (1) below

Tax expense 1 1 3 See (1) below

Pension and other post-employment benefit plans,

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Total reclassifications for the period, after tax $ ( 5 ) $ ( 1 ) $ ( 41 )

The activity for the year ended December 31, 2025 is classified within "Sundry income (expense) - net" as part of continuing operations, with a portion classified within"(Loss) income from discontinued operations, net of tax" as part of the Electronics Separation.

The activity for the year ended December 31, 2024 is classified within "Sundry income (expense) - net" as part of continuing operations.

The activity for the year ended December 31, 2023 is classified almost entirely within "(Loss) income from discontinued operations, net of tax" as part of the Delrin ® Divestiture, with a portion classified within "Sundry income (expense) - net" as part of continuing operations.

The activity for the year ended December 31, 2022 is classified almost entirely within "(Loss) income discontinued operations, net of tax" as part of the M&M Divestiture, with a portion classified within "Sundry income (expense) - net" as part of continuing operations.

NOTE 19 - PENSION PLANS AND OTHER POST-EMPLOYMENT BENEFITS

The significant defined benefit pension and OPEB plans of the Company are summarized below.

Unless otherwise noted, all values within this footnote are inclusive of balances and activity associated with discontinued operations.

Unless otherwise noted, all values within this footnote are inclusive of balances and activity associated with the Electronics Business through the spinoff and all Aramids activity related to discontinued operations.

The Company transferred standalone and split plans associated with the Electronics Business on the separation date.

Defined Benefit Pension Plans

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The Company retained U.S.

and foreign other post-employment benefit obligations with the Canadian plan and the U.S.

long-term disabilities plan being the two largest and accounting for the majority of the Company's total other post-employment benefit obligations.

and foreign other post-employment benefit obligations with the U.S.

long-term disabilities plan being the largest and accounting for most of the Company's total other post-employment benefit obligations.

In comparison to the Company's defined benefit pension plans, the Company's other post-employment benefit plans are not significant.

The total other post-employment benefits projected benefit obligation was $ 17 million as of December 31, 2025 and $ 27 million as of December 31, 2024.

The decrease in the Company's OPEB projected benefit obligation is due to the portion that was spun off with the Electronics Business separation.

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.

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Actuarial changes in assumptions and experience

( 48 ) ( 49 )

Benefits paid ( 192 ) ( 208 )

Acquisitions/divestitures/other 1

Plan amendments 1 —

Transfer to Qnity at spin-off ( 411 ) —

Effect of foreign exchange rates 235 ( 122 )

Termination benefits/curtailment cost/settlements — ( 1 )

Settlements/curtailments ( 66 ) —

Benefit obligations at end of year $ 2,056 $ 2,435

The year ended 2023 is primarily related to the Delrin® Divestiture.

Change in Plan Assets and Funded Status of All Plans 2025 2024

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Benefits paid ( 192 ) ( 208 )

Acquisitions/divestitures/other 1

Effect of foreign exchange rates 205 ( 101 )

Settlements ( 69 ) —

Transfer to Qnity at spin-off ( 346 ) —

Fair value of plan assets at end of year $ 1,865 $ 2,161

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Funded status at end of year $ ( 191 ) $ ( 274 )

The year ended 2023 is primarily related to the Delrin® Divestiture.

The following tables summarize the amounts recognized in the Consolidated Balance Sheets for all significant plans:

Amounts Recognized in the Consolidated Balance Sheets for All Significant Plans December 31, 2024 December 31, 2023

The following tables summarize the amounts recognized in the Consolidated Balance Sheets for all plans:

Amounts Recognized in the Consolidated Balance Sheets for All Plans December 31, 2025 December 31, 2024

Amounts recognized in the consolidated balance sheets:

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Pretax balance in accumulated other comprehensive loss at end of year

The increase in the Company's actuarial losses for the year ended December 31, 2024 was primarily due to losses on assets in excess of what was expected, partially offset by the changes in weighted-average discount rates, which increased from 3.26 percent at December 31, 2023 to 3.67 percent at December 31, 2024.

The actuarial loss for the year ended December 31, 2023 was primarily due to the changes in weighted-average discount rates, which decreased from 3.71 percent at December 31, 2022 to 3.26 percent at December 31, 2023 and due to divestitures, partially offset by gains on assets in excess of what was expected.

The accumulated benefit obligation for all pension plans was $ 2.0 billion and $ 2.4 billion at December 31, 2025 and December 31, 2024, respectively.

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Fair value of plan assets $ 120 $ 144

Net Periodic Benefit Costs for All Significant Plans for the Years Ended December 31, 2024 2023 2022

Net Periodic Benefit Costs for All Plans for the Years Ended December 31, 2025 2024 2023

Net Periodic Benefit Costs:

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Amortization of prior service credit ( 3 ) ( 3 ) ( 3 )

Amortization of unrecognized net (gain) loss — ( 1 ) 1

Curtailment/settlement 1 ( 3 ) ( 4 )

Net periodic benefit (credits) costs - Total $ ( 1 ) $ 25 $ ( 7 )

Net periodic benefit credits - Discontinued operations — ( 6 ) ( 9 )

Net periodic benefit (credit) costs - Continuing operations 1

Amortization of unrecognized net loss (gain) 1 — ( 1 )

Curtailment/settlement/other (gain) loss ( 2 ) 1 ( 3 )

Net periodic benefit costs (credits) - Total $ 6 $ ( 1 ) $ 25

Net periodic benefit costs - Discontinued operations 3 — 2

Net periodic benefit costs (credits) - Continuing operations 1

$ 3 $ ( 1 ) $ 23

Changes in plan assets and benefit obligations recognized in other comprehensive loss (income):

Net loss (gain) $ 70 $ 108 $ ( 35 )

Net (gain) loss 2

$ ( 7 ) $ 70 $ 108

Amortization of prior service credit 3 3 3

Amortization of unrecognized gain (loss) — 1 ( 1 )

Settlement (loss) gain ( 1 ) 3 4

Amortization of unrecognized (loss) gain ( 1 ) — 1

Curtailment revaluation (gain) loss ( 2 ) — —

Settlement benefit (charge) 6 ( 1 ) 3

Effect of foreign exchange rates 18 ( 1 ) 1

Transfer to Qnity at spin-off ( 1 ) — —

Plan amendments 1 — —

Total recognized in other comprehensive loss (income) $ 17 $ 71 $ 116

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Refer to the separate table below for details of Net Periodic Benefit Costs for Plans in Continuing Operations.

The actuarial gain for the year ended December 31, 2025 was primarily due to increasing discount rates on the projected benefit obligations, partially offset by a loss on assets in excess of what was expected.

The actuarial loss for the year ended December 31, 2024 was primarily due to losses on assets in excess of what was expected, partially offset by gains due to discount rates on the projected benefit obligations.

Net Periodic Benefit Costs for Plans in Continuing Operations for the Years Ended December 31, 2025 2024 2023

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Amortization of prior service credit ( 2 ) ( 2 ) ( 1 )

Amortization of unrecognized net (gain) loss — ( 1 ) 4

Amortization of unrecognized net loss 2 1 1

Curtailment/settlement ( 3 ) 2 ( 2 )

Net periodic benefit costs - Continuing operations $ ( 1 ) $ 31 $ 2

Net periodic benefit costs (credits) - Continuing operations $ 3 $ ( 1 ) $ 23

Estimated Future Benefit Payments

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Pooled investment vehicles $ 767 $ 767 $ — $ — $ 685 $ 685 $ — $ —

Other investments 11 — $ 11 $ — — — — —

Total other investments $ 778 $ 767 $ 11 $ — $ 685 $ 685 $ — $ —

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Private market securities 43 101

Pooled investment vehicles 10 —

Total investments measured at net asset value

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Fair Value Measurement of Level 3 Pension Plan Assets Real Estate Insurance Contracts Total

Balance at Jan 1, 2023 $ 75 $ 524 $ 599

Balance at January 1, 2024 $ 79 $ 524 $ 603

Actual return on assets:

Relating to assets held at Dec 31, 2023 2 26 28

Relating to assets held at December 31, 2024 ( 6 ) ( 56 ) ( 62 )

Purchases, sales and settlements, net 2 ( 3 ) ( 1 )

Transfers out of Level 3 1

— ( 10 ) ( 10 )

Balance at Dec 31, 2023 $ 79 $ 524 $ 603

Transfers into Level 3 — 3 3

Balance at December 31, 2024 $ 75 $ 468 $ 543

Actual return on assets:

Relating to assets held at Dec 31, 2024 ( 6 ) ( 56 ) ( 62 )

Relating to assets held at December 31, 2025 15 30 45

Purchases, sales and settlements, net — ( 89 ) ( 89 )

Transfers into Level 3 — 3 3

Balance at Dec 31, 2024 $ 75 $ 468 $ 543

Related to the Delrin® Divestiture

Transfers out of Level 3 1

— ( 23 ) ( 23 )

Balance at December 31, 2025 $ 90 $ 386 $ 476

Related to the Electronics Separation.

Defined Contribution Plans

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The Company's matching contributions to the Plan were $ 59 million in 2025 and $ 60 million in 2024.

The Company's nonmatching contributions to the Plan were $ 32 million in 2024 and $ 34 million in 2023.

The Company's nonmatching contributions to the Plan were $ 32 million for both years ended in 2025 and 2024.

In total, the Company's contributions to the Plan were $ 91 million in 2025 and $ 92 million in 2024.

All amounts for 2023 are inclusive of Delrin® activity related to discontinued operations.

In addition, the Company made contributions to other defined contribution plans in 2024 in the amount of $ 32 million and $ 35 million in 2023.

2023 is inclusive of Delrin® activity related to discontinued operations.

2025 amounts are inclusive of Electronics Business through the spin-off and all Aramids activity related to discontinued operations.

All amounts in 2024 are inclusive of Electronics Business and Aramids activity related to discontinued operations.

In addition, the Company made contributions to other defined contribution plans for both years ended in 2025 and 2024 in the amount of $ 32 million.

2025 amounts are inclusive of Electronics Business through the spin-off and Aramids activity related to discontinued operations.

All amounts in 2024 are inclusive of Electronics Business and Aramids activity related to discontinued operations.

NOTE 20 - STOCK-BASED COMPENSATION

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Under the 2020 EIP, a maximum of 14 million shares of common stock are available for award as of December 31, 2025.

The approval of the 2020 Plan had no effect on the Company’s ability to make future grants under the DuPont OIP in accordance with its terms, and awards that are outstanding under the DuPont OIP remain outstanding in accordance with their terms.

approval of the 2020 Plan had no effect on the Company’s ability to make future grants under the DuPont OIP in accordance with its terms, and awards that are outstanding under the DuPont OIP remain outstanding in accordance with their terms.

A description of the Company's stock-based compensation is discussed below followed by a description of TDCC and EIDP stock-based compensation.

At the time of the M&M Divestiture, outstanding, unvested share-based compensation awards granted in 2022 and held by Employees transferred to Celanese were terminated and reissued as equity awards under the Celanese stock plan.

Pre-2022 awards held by M&M Employees were settled by DuPont based on vesting conditions noted in respective grant agreements.

In connection with the Electronics Separation on November 1, 2025 (see Note 1), all outstanding stock-based compensation awards associated with Qnity employees converted into Qnity awards, became Qnity’s responsibility and were cancelled from DuPont plans, with the exception of certain awards granted to executive level employees.

The conversion into Qnity awards was made with the intent to preserve the intrinsic value of each award immediately before and after the Separation.

In addition, for awards associated with remaining DuPont employees, the number of shares underlying unvested stock awards was adjusted along with the exercise price and the number of shares underlying outstanding stock options.

These adjustments were made with the intent to preserve the intrinsic value of each award immediately before and after the Separation and were determined using a ratio calculated using the DuPont share price based on the market closing price before and the average of the closing price from the first three days of trading after the Separation.

Certain awards that were outstanding with DuPont's executive employees prior to the separation converted into both DuPont and Qnity awards designed to mirror the DuPont and Qnity common stock that would have been held had the stock-based compensation award been outstanding.

Similar to that described above, this conversion was done with the intent to preserve the intrinsic value of each award.

The terms of the outstanding awards remain the same and if unvested, continue to vest over the original vesting periods.

The adjustments to shares underlying unvested stock awards and outstanding stock options did not result in a material stock-based compensation cost.

Accounting for Stock-Based Compensation

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The Company estimates expected forfeitures.

DuPont recognized share-based compensation expense in continuing operations of $ 77 million, $ 74 million, and $ 75 million during the years ended December 31, 2024, 2023 and 2022, respectively.

The income tax benefits related to stock-based compensation arrangements were $ 16 million for the years ended December 31, 2024, 2023 and 2022,.

Total unrecognized pretax compensation cost in continuing operations related to nonvested stock option awards of $ 0.2 million at December 31, 2024, is expected to be recognized over a weighted-average period of 0.1 years.

DuPont recognized share-based compensation expense in continuing operations of $ 38 million for the year ended December 31, 2025, $ 56 million for the year ended December 31, 2024 and $ 57 million for the year ended December 31, 2023, respectively.

The income tax benefits related to stock-based compensation arrangements were $ 10 million, $ 12 million and $ 12 million for the years ended December 31, 2025, 2024 and 2023.

As of December 31, 2025, there was no unrecognized compensation cost as all stock option awards have vested.

Total unrecognized pretax compensation cost in continuing operations related to RSUs and performance based stock units ("PSUs") of $ 50 million at December 31, 2025, is expected to be recognized over a weighted average period of 1.8 years.

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The weighted average grant-date fair value of RSUs and PSUs granted during 2025 was $ 80.37 .

Pre-2022 awards held by M&M Employees were settled by DuPont based on vesting conditions noted in respective grant agreements.

DuPont 2020 Equity Incentive Plan

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Exercised ( 83 ) $ 31.47

Qnity exits ( 85 ) $ 74.38

Share conversion 545 $ 53.13

Forfeited/Expired ( 4 ) $ 74.08

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Weighted-average fair value per share of options granted 1

$ — $ — $ 17.41

Total compensation expense for stock options plans 2

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The fair value of all stock-settled RSUs is based upon the market price of the underlying common stock as of the grant date.

The Company grants PSUs to senior leadership under the DuPont EIP.

The Company grants PSUs to senior leadership under the 2020 EIP.

Vesting for PSUs granted is based upon achieving certain return on invested capital ("ROIC") targets and certain adjusted corporate net income annual growth targets, weighted evenly between the metrics and modified by a relative total shareholder return ("TSR") percentile ranking goal as compared to the S&P 500.

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Vested ( 921 ) $ 64.56

Qnity exits ( 666 ) $ 73.87

Share conversion 896 $ 53.84

Forfeited ( 212 ) $ 57.87

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Awards previously granted under those plans that were nonvested will now vest in each subplan.

No awards were granted by the Company out of the OIP plan in 2024, 2023 or 2022.

No awards were granted by the Company out of the DuPont OIP plan in 2025, 2024 or 2023.

All new awards will be granted by the EIP.

OIP Stock Options

DuPont OIP Stock Options

The exercise price of shares subject to option is equal to the market price of the Company's stock on the date of grant.

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The Company uses the Black-Scholes option pricing model to determine the fair value of stock option awards.

No awards were granted by the Company out of the OIP plan in 2024, 2023 and 2022.

No awards were granted by the Company out of the DuPont OIP plan in 2025, 2024 and 2023.

The Company determines the dividend yield by dividing the annualized dividend on DuPont's common stock by the option exercise price.

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Expected life is determined by reference to DuPont's historical experience, adjusted for expected exercise patterns of in-the-money options.

The following table summarizes stock option activity for 2024 under the OIP:

The following table summarizes stock option activity for 2025 under the DuPont OIP:

OIP Stock Options Number of Shares

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Outstanding at January 1, 2025 1,390 $ 62.55

Granted — $ —

Exercised ( 292 ) $ 46.46

Qnity exits ( 251 ) $ 64.02

Share conversion 1,266 $ 43.99

Forfeited/Expired ( 18 ) $ 22.62

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The aggregate intrinsic values in the table above represent the total pretax intrinsic value (the difference between the closing stock price on the last trading day of 2025 and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their in-the-money options at year end.

OIP Restricted Stock Units and Performance Based Stock Units

DuPont OIP Restricted Stock Units and Performance Based Stock Units

The Company grants RSUs to certain employees that serially vested over a three-year period and, upon vesting, convert one -for-one to DuPont common stock.

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The weighted-average grant-date fair value of the PSUs, subject to the TSR metric, is based upon the market price of the underlying common stock as of the grant date and estimated using a Monte Carlo simulation.

Nonvested awards of RSUs and PSUs are shown below.

OIP RSUs and PSUs Number of Shares

(in thousands) Weighted Average Grant Date Fair Value

Nonvested at January 1, 2024 163 $ 68.01

Granted — $ —

Vested ( 109 ) $ 71.93

Forfeited ( 3 ) $ 71.42

Nonvested at December 31, 2024 51 $ 59.40

As of December 31, 2025, there are no material nonvested awards of RSUs and no RSUs granted out of the DuPont OIP in 2025, 2024 and 2023.

TDCC Stock Incentive Plan

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EIDP Stock Options Number of Shares

(in thousands) Weighted Average Grant Date Fair Value

(in thousands) Weighted Average Exercise Price

(per share) Weighted Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in thousands)

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Exercised ( 584 ) $ 37.93

Qnity exits ( 58 ) $ 88.02

Share conversion 1,646 $ 67.07

Forfeited/Expired ( 134 ) $ 36.75

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Refer to Note 7 and Note 16 for more information on Restricted cash equivalents.

At December 31, 2024 the balance included unamortized basis adjustment of $ 48 million related to the 2022 Swaps, discussed below.

At December 31, 2025 and 2024 the balance included unamortized basis adjustment of $ 35 million and $ 48 million related to the 2022 Swaps, discussed below.

At December 31, 2025, the balance included a fair value hedging revaluation related to the 2022 Swaps of $ 4 million, discussed below.

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Presented net of cash collateral where master netting arrangements allow.

The loss on the 2022 and 2024 Swaps are classified as "Other noncurrent obligations" and "Accrued and other current liabilities", respectively, in the Consolidated Balance Sheets.

The loss on the 2022 Swaps is classified as "Other noncurrent obligations" in the Consolidated Balance Sheets.

Derivative Instruments

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The Company has also elected to amortize the excluded components in interest expense in the related quarterly accounting period that such interest is accrued.

The cross-currency swap is marked to market at each reporting date and any unrealized gains or losses are included in unrealized currency translation adjustments within AOCL, net of amounts associated with excluded components which are recognized in interest expense in the Consolidated Statements of Operations.

The cross-currency swap is marked to market at each reporting date and any unrealized gains or losses are included in unrealized currency translation adjustments within "Accumulated other comprehensive income" ("AOCL"), net of amounts associated with excluded components which are recognized in "Interest expense" in the Consolidated Statements of Operations.

Interest Rate Swap Agreements

In the second quarter of 2022, the Company entered into fixed-to-floating interest rate swap agreements (the “2022 Swaps”) with an aggregate notional principal amount totaling $ 1 billion to hedge changes in the fair value of the Company’s fixed-rate notes due 2038 attributable to interest rate change movements.

These swaps convert interest on the hedged portion of the 2038 Notes to a floating rate based on the Secured Overnight Financing Rate ("SOFR") through November 2032.

The 2022 Swaps expire on November 15, 2032 and are carried at fair value.

On June 5, 2024, DuPont issued a notice of redemption to the bond trustee with respect to a partial redemption of $ 650 million aggregate principal amount of its 2038 Notes in accordance with their terms.

The redemption was effective on June 15, 2024.

As a result of the announced redemption, the Company dedesignated the current hedging relationship.

At the time of dedesignation, the total amount recorded as a cumulative fair value basis adjustment on the 2038 Notes was a loss of $ 81 million of which $ 32 million was recognized as a component of the loss from partial extinguishment of debt recorded in "Sundry income (expense) – net" in the Consolidated Statements of Operations.

The remaining $ 49 million basis adjustment is amortized to "Interest expense" in the Consolidated Statements of Operations over the remaining term of the 2038 Notes.

The basis adjustment amortization recorded to "Interest expense" in the Consolidated Statement of Operations for the year ended December 31, 2024 was $ 1 million.

Similarly, on November 7, 2025, DuPont redeemed an additional $ 226 million aggregate principal as part of the Special Mandatory Redemption.

At the time of the Special Mandatory Redemption, the total amount recorded as a cumulative fair value basis adjustment on the 2038 notes was a loss of $ 46 million, of which $ 11 million was recognized as a component of the loss from partial extinguishment of debt recorded in “Sundry income (expense) – net” in the Consolidated Statements of Operations.

As a result of the accelerated redemption, the fair value basis adjustment equaled approximately $ 35 million and the basis adjustment amortization recorded to "Interest expense" in the Consolidated Statement of Operations for the year ended December 31, 2025, was $ 2 million.

Following its actions in the fourth quarter of 2025 to achieve its post-Electronics Separation capital structure, $ 774 million aggregate principal amount of the Company's 2038 Notes remained outstanding.

To align swap notional amount with the remaining debt, on November 3, 2025, the Company settled 23 percent of the notional of the 2022 Swaps related to the 2038 Notes for $ 10 million, representing the allocated fair value at settlement inclusive of accrued interest.

In November 2025, the Company redesignated 77 percent of the original 2022 Swaps as a partial-term fair value hedge of the remaining $ 774 million of the 2038 Notes through November 2032.

No changes were made to the swap terms in connection with the redesignation.

Upon redesignation, changes in the fair value of the hedging instruments and the hedged portion of the debt attributable to changes in the benchmark interest rate are recorded in interest expense.

As of December 31, 2025, the only interest rate swaps outstanding are the redesignated 77 percent portion of the 2022 Swaps.

The hedging instrument is presented at fair value within “Other noncurrent obligations,” with accrued interest presented in “Accrued and other current liabilities.”

Derivatives not Designated in Hedging Relationships

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Interest Rate Swap Agreements

In the second quarter of 2022, the Company entered into fixed-to-floating interest rate swap agreements ("2022 Swaps") with an aggregate notional principal amount totaling $ 1 billion to hedge changes in the fair value of the Company’s long-term debt due to interest rate change movements.

These swaps converted $ 1 billion of the Company’s $ 1.65 billion principal amount of fixed rate notes due 2038 into floating rate debt for the portion of their terms through 2032 with an interest rate based on the Secured Overnight Financing Rate ("SOFR").

Under the terms of the agreements, the Company agrees to exchange, at specified intervals, fixed for floating interest amounts based on the agreed upon notional principal amount.

The 2022 Swaps expire on November 15, 2032 and are carried at fair value.

Since inception of the 2022 Swaps, fair value hedge accounting has been applied and thus, changes in the fair value of the 2022 Swaps and changes in the fair value of the related hedged portion of long-term debt were presented and net to zero in "Sundry income (expense) – net" in the Consolidated Statements of Operations.

The redemption was effective on June 15, 2024.

As a result of the announced redemption, the Company dedesignated the current hedging relationship.

The remaining basis adjustment is amortized to interest expense over the remaining term of the 2038 Notes.

The basis adjustment amortization for the year December 31, 2024 was $ 1 million.

Refer to Note 15 for additional details on the partial redemption of the 2038 Notes.

In June 2024, the Company entered into two forward-starting fixed-to-floating interest rate swap agreements (“2024 Swaps”) to hedge the changes in the fair value of the Company’s long-term debt due to interest rate change movements.

One swap converted $ 2.15 billion principal amount of the fixed rate notes due 2048 into floating rate debt for the portion of their terms from 2025 through 2048 with an interest rate based on SOFR.

The other swap converted $ 1 billion principal amount of the fixed rate notes due 2038 into floating rate debt for the portion of their terms from 2032 through 2038 with an interest rate also based on SOFR.

The 2024 Swaps have a mandatory early termination date of December 15, 2025 and are carried at fair value.

At December 31, 2024, the mark-to-market value of the 2024 Swaps is $ 116 million, and final settlement will depend on movements in interest rates.

Fair value hedge accounting has not been applied.

The 2022 Swaps and 2024 Swaps are considered economic hedges of the Company’s fixed rate debt.

As such, changes in the fair value and gain or loss from net interest settlement of the 2022 Swaps after the date of dedesignation and changes in the fair value of the 2024 Swaps since inception have been recorded in “Sundry income (expense) – net” in the Consolidated Statements of Operations.

The amount charged related to interest rate swaps not designated as hedges was a loss of $ 138 million and zero for the years December 31, 2024 and 2023, respectively.

The Company’s 2022 interest rate swap agreements (“2022 Swaps”) — including their original terms, dedesignation events, settlements, and subsequent redesignation are discussed in detail above within Derivatives Designated in Hedging Relationships.

During periods when the 2022 Swaps were not designated in a qualifying hedge relationship, changes in fair value and net interest settlements were recorded in “Sundry income (expense) – net.”

In addition to the 2022 Swaps, the Company entered into two forward‑starting fixed‑to‑floating interest rate swap agreements in June 2024 (the “2024 Swaps”) that were not designated as hedging instruments.

One of the 2024 Swaps converted $ 2.15 billion principal amount of the Company’s fixed‑rate notes due 2048 into floating rate debt for the portion of their terms from 2025 through 2048.

The second 2024 Swap converted $ 1.0 billion principal amount of fixed‑rate notes due 2038 into floating rate debt for the portion of their terms from 2032 through 2038.

Both 2024 Swaps were carried at fair value and included a mandatory early termination date of December 15, 2025.

On December 31, 2024, the mark to market value of the 2024 Swaps was $ 116 million and was recorded to "Accrued and other current liabilities."

The Company settled 30 percent of the “2024 Swap” notional related to the 2048 Notes in September 2025 for approximately $ 20 million, representing the allocated fair value at the time of settlement.

In November 2025, the Company settled the remaining 70 percent of the “2024 Swap” notional related to the 2048 Notes and 100 percent of the “2024 Swap” notional related to the 2038 Notes for a total of $ 92 million, also representing their respective fair values at the time of settlement.

Gains and losses related to interest rate swaps not designated as hedges — including the non‑designated periods of the 2022 Swaps and the 2024 Swaps — were recorded in “Sundry income (expense) – net.” The Company recognized a gain of $ 31 million for the year ended December 31, 2025 and a loss of $ 138 million for the year ended December 31, 2024.

Cash flows associated with the settlement of non‑designated swaps are reflected within “Cash provided by operating activities – continuing operations” in the Consolidated Statements of Cash Flows.

NOTE 22 - FAIR VALUE MEASUREMENTS

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Time deposits included in "Cash and cash equivalents" in the Consolidated Balance Sheets are held at amortized cost, which approximates fair value.

"Restricted cash and cash equivalents" and "Restricted cash and cash equivalents - noncurrent" in the Consolidated Balance Sheets at December 31, 2024 included $ 42 million of money market funds representing Level 1 fair value measurement investments which are held at amortized cost.

"Cash and cash equivalents" and "Restricted cash and cash equivalents" in the Consolidated Balance Sheets at December 31, 2023, included $ 50 million of money market funds and $ 405 million deposited within a qualified settlement fund consisting of treasury bills, respectively, representing Level 1 fair value measurement investment, also held at amortized cost.

"Restricted cash and cash equivalents" and "Restricted cash and cash equivalents – noncurrent" in the Consolidated Balance Sheets at December 31, 2025 and 2024 included $ 42 million of money market funds representing Level 1 fair value measurement investments which are held at amortized cost.

See Note 21 for the classification of derivatives in the Consolidated Balance Sheets.

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The offsetting counterparty and cash collateral amounts were $ 15 million and zero , respectively, for both assets and liabilities as of December 31, 2024.

As part of the Donatelle Plastics Acquisition, the purchase agreement includes annual contingent earn-out payments based upon customer specific revenue generated through December 31, 2029, with total accumulated earn-out payments of up to $ 85 million.

As part of the Donatelle Acquisition, the purchase agreement includes annual contingent earn-out payments based upon customer specific revenue generated through December 31, 2029, with total accumulated earn-out payments of up to $ 85 million.

The contingent earn-out liability was established using a Monte Carlo simulation and the significant assumption used is the estimated likelihood the customer specific revenue is earned.

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Changes in the fair values of the contingent earn-out liability will be recognized in "Sundry income (expense) – net" in the Consolidated Statements of Operations.

The fair value of the contingent earn-out liability is reflected in “Accrued expenses and other liabilities” on the Consolidated Balance Sheets.

The fair value of the contingent earn-out liability is reflected in “Other noncurrent obligations” on the Consolidated Balance Sheets.

See Note 3 for additional information.

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Assets at fair value:

Goodwill $ 4,814 $ ( 804 )

Investments in nonconsolidated affiliates $ 10 $ ( 10 )

At December 31, 2023

Assets at fair value:

Long-lived assets, intangible assets, and other assets $ 55 $ ( 94 )

The Company did not incur any losses associated with fair value measurements on a nonrecurring basis for the year ended December 31, 2024.

Goodwill $ 4,037 $ ( 668 )

The Company did not incur any losses associated with fair value measurements on a nonrecurring basis for the years ended December 31, 2025 and 2024.

2025 Fair Value Measurements on a Nonrecurring Basis

During the fourth quarter of 2023, the Company recorded an impairment charge related to goodwill within Water & Protection.

During the fourth quarter of 2025, the Company recorded an impairment charge related to an investment in nonconsolidated affiliate within the Diversified Industrials and Healthcare & Water Technologies segments.

The impairment analysis was performed using Level 3 inputs within the fair value hierarchy.

During the third quarter of 2025 and updated in the fourth quarter of 2025, in relation to the Aramids Divestiture meeting the criteria to be classified as held for sale, the Company recorded a valuation allowance against the Aramids Business assets held for sale.

The impairment analysis was performed using Level 3 inputs within the fair value hierarchy.

See Note 4 for further discussion.

During the first quarter of 2025, the Company recorded an impairment charge related to goodwill within the Aramids reporting unit presented within discontinued operations.

The impairment analysis was performed using Level 3 inputs within the fair value hierarchy.

See Note 14 for further discussion.

2023 Fair Value Measurements on a Nonrecurring Basis

During the first quarter of 2022, the Company recorded an impairment charge related to equity method investments within Electronics & Industrial.

During the fourth quarter of 2023, the Company recorded an impairment charge related to goodwill within the Diversified Industrials segment.

The impairment analysis was performed using Level 3 inputs within the fair value hierarchy.

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DuPont is comprised of two operating segments:

Electronics & Industrial and Water & Protection.

Healthcare & Water Technologies and Diversified Industrials.

Major products by segment include:

Electronics & Industrial (printing and packaging materials, photopolymers, electronic materials, specialty silicones and lubricants);

and Water & Protection (nonwovens, aramids, construction materials, water filtration and purification resins, elements and membranes).

Healthcare & Water Technologies (specialty components for medical devices, TYVEK ® medical packaging and garments, TYCHEM ® protective suits, AMBERLITE™ ion exchange resins, FILMTEC™ reverse osmosis and nanofiltration elements and INGE™ and ITEGRATEC™ ultrafiltration modules);

and Diversified Industrials (TYVEK ® house wrap, STYROFOAM™ insulation, CORIAN ® solid surface, Vespel ® shapes and parts, MOLYKOTE ® specialty lubricants, BETAFORCE™ and BETASEAL™ structural adhesives and Cyrel ® flexographic printing plates).

The Company operates globally in substantially all of its product lines.

Transfers of products between operating segments are generally valued at cost, to the extent such transfers are applicable.

The revenues and certain expenses of the M&M Divestitures are classified as discontinued operations in the current and historical periods.

The Auto Adhesives & Fluids, Multibase TM and Tedlar ® product lines within the historical Mobility & Materials segment (the "Retained Businesses") are not included in the scope of the M&M Divestitures and are reflected within Corporate & Other.

Corporate & Other includes DuPont's equity interest in Derby Holdings Group related to the Delrin® Divestiture.

The historic Mobility & Material segment costs that are classified as discontinued operations include only direct operating expenses incurred prior to the November 1, 2022 M&M Divestiture and November 1, 2023 Delrin® Divestiture.

Indirect costs, such as those related to corporate and shared service functions previously allocated to the M&M Businesses, do not meet the criteria for discontinued operations and remain reported within continuing operations.

A portion of these indirect costs include costs related to activities the Company will continue to undertake post-closing of the M&M Divestitures, and for which it is reimbursed (“Future Reimbursable Indirect Costs”).

Future Reimbursable Indirect Costs are reported within continuing operations but are excluded from operating EBITDA as defined below.

The revenues and certain expenses of the M&M Divestitures, Aramids Business, and Electronics Business are classified as discontinued operations in the current and historical periods.

Corporate includes DuPont's equity interest in Derby Holdings Group related to the Delrin ® Divestiture.

The costs of the M&M Businesses, Aramids Business, and Electronics Business that are classified as discontinued operations include only direct operating expenses incurred by the businesses.

Indirect costs, such as those related to corporate and shared service functions previously allocated to the M&M Businesses, Aramids Business, and Electronics Business, do not meet the criteria for discontinued operations and are reported within continuing operations.

A portion of these indirect costs include costs related to activities the Company will or continues to undertake post-closing of the M&M Divestitures, Aramids Divestiture, and Electronics Separation, and for which it is or will be reimbursed (“Future Reimbursable Indirect Costs”).

Future Reimbursable Indirect Costs are reported within continuing operations in Corporate but are excluded from Operating EBITDA as defined below.

The remaining portion of these indirect costs are not subject to future reimbursement (“Stranded Costs”).

Stranded Costs are reported within continuing operations in Corporate & Other and are included within Operating EBITDA.

Stranded Costs are reported within continuing operations in Corporate and are included within Operating EBITDA.

The Company's measure of profit/loss for segment reporting purposes is Operating EBITDA as this is the manner in which the Company's chief operating decision maker ("CODM"), the Chief Executive Officer, assesses performance and allocates resources.

The CODM utilizes Operating EBITDA to assess financial performance and allocate resources by comparing actual results to historical and previously forecasted results.

The Company defines Operating EBITDA as earnings (i.e., “Income from continuing operations before income taxes") before interest, depreciation, amortization, non-operating pension / OPEB benefits / charges, and foreign exchange gains / losses, excluding Future Reimbursable Indirect Costs, and adjusted for significant items.

The Company defines Operating EBITDA as earnings (i.e., “Income from continuing operations before income taxes") before interest, depreciation, amortization, non-operating pension / OPEB benefits / charges, and foreign exchange gains / losses, excluding future reimbursable indirect costs, remediation costs associated with divested businesses, and is adjusted for significant items.

Reconciliations of these measures are provided on the following pages.

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Europe, Middle East and Africa.

Long-lived assets of Luxembourg, for the years ended December 31, 2025, 2024 and 2023 were $ 784 million, $ 716 million, and $ 770 million, respectively.

Segment Revenue, Significant Segment Expenses and Segment Operating EBITDA For the years ended December 31,

2025 2024 2023

(In millions) Electronics & Industrial Water & Protection Electronics & Industrial Water & Protection Electronics & Industrial Water & Protection

In millions Healthcare & Water Technologies Diversified Industrials Healthcare & Water Technologies Diversified Industrials Healthcare & Water Technologies Diversified Industrials

Segment net sales $ 3,233 $ 3,616 $ 2,976 $ 3,743 $ 2,919 $ 3,695

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In millions 2025 2024 2023

Electronics & Industrial Segment Operating EBITDA $ 1,717 $ 1,472 $ 1,836

Water & Protection Segment Operating EBITDA 1,360 1,388 1,431

Healthcare & Water Technologies Segment Operating EBITDA $ 972 $ 844 $ 866

Diversified Industrials Segment Operating EBITDA 800 839 792

Reportable Segment Operating EBITDA $ 1,772 $ 1,683 $ 1,658

+ Corporate & Other Operating EBITDA $ 67 $ 82 $ ( 6 )

+ Corporate Operating EBITDA 1

$ ( 144 ) $ ( 152 ) $ ( 114 )

- Depreciation and amortization 647 635 580

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- Interest expense 3

+ Non-operating pension/OPEB benefit costs (credits) 1

+ Non-operating pension/OPEB benefit credits (costs) 1

+ Foreign exchange gains (losses), net 1

( 34 ) ( 3 ) ( 77 )

- Future reimbursable indirect costs 89 100 106

- Remediation costs associated with divested businesses 12 14 22

+ Significant items charge ( 412 ) ( 380 ) ( 784 )

Income from continuing operations before income taxes $ 200 $ 117 $ ( 279 )

Included in "Sundry income (expense) - net."

The years ended December 31, 2024 and 2022 excludes significant items, refer to details below.

Corporate includes certain enterprise and governance activities including non-allocated corporate overhead costs and support functions, leveraged services, non-business aligned litigation expenses, DuPont's equity interest in Derby related to the Delrin® Divestiture and other costs not absorbed by reportable segments.

The year ended December 31, 2025 excludes accrued interest income earned on employee retention credits and interest earned on cash held in escrow associated with the Qnity financing.

Refer to details of significant items below.

The year ended December 31, 2025 excludes interest rate swap basis amortization.

Refer to details of significant items below.

The following tables summarize the pre-tax impact of significant items that are excluded from Operating EBITDA above:

Significant Items for the Year Ended December 31, 2024 Electronics & Industrial Water & Protection Corporate & Other Total

Significant Items for the Year Ended December 31, 2025 Healthcare & Water Technologies Diversified Industrials Corporate Total

Restructuring and asset related charges - net 1

$ ( 16 ) $ ( 22 ) $ ( 113 ) $ ( 151 )

Acquisition, integration and separation costs 2

— — ( 203 ) ( 203 )

Interest rate swap mark-to-market gain 3

Loss on debt extinguishment 4

— — ( 114 ) ( 114 )

Qnity financing 5

Other benefit (credits), net 6

( 3 ) — 15 12

Total $ ( 19 ) $ ( 22 ) $ ( 371 ) $ ( 412 )

Includes restructuring actions and asset related charges.

See Note 6 for additional information.

Acquisition, integration and separation costs related primarily to the Electronics Separation.

The twelve months ended December 31, 2025 includes the non-cash mark-to-market net gain related to the 2022 Swaps and 2024 Swaps offset by the interest settlement loss on the 2022 Swaps.

The year ended December 31, 2025 also includes basis amortization on the 2022 Swaps ($ 2 million pre-tax, reflected in "Interest expense" within the Consolidated Statements of Operations).

See Note 21 for additional information.

Refer to Note 15 for further details.

Reflects interest income earned on cash held in escrow associated with the Qnity notes.

See Note 15 for additional information.

Includes benefits related to an adjustment of the Donatelle contingent earn-out liability ($ 19 million pre-tax benefit), accrued interest earned on employee retention credits ($ 11 million pre-tax benefit) and a benefit related to an indemnification receivable for a tax matter ($ 3 million pre-tax benefit), offset by legal costs within the Healthcare & Water Technologies segment associated with a pending intellectual property matter ($ 22 million pre-tax cost).

Significant Items for the Year Ended December 31, 2024 Healthcare & Water Technologies Diversified Industrials Corporate Total

Restructuring and asset related charges - net 1

2 unchanged sentences

( 25 ) — — ( 25 )

Inventory step-up amortization 4

Acquisition, integration and separation costs 3

( 12 ) — ( 78 ) ( 90 )

1 unchanged sentence

— — ( 74 ) ( 74 )

Interest rate swap items 6

Interest rate swap mark-to-market loss 5

— — ( 139 ) ( 139 )

Income tax items 6

Other benefit (credits), net 7

( 2 ) — — ( 2 )

Total $ ( 41 ) $ ( 55 ) $ ( 284 ) $ ( 380 )

Acquisition, integration and separation costs related to the Previously Intended Business Separations and the Intended Electronics Separation, and the acquisitions of Spectrum and Donatelle Plastics.

Includes restructuring actions and asset related charges.

2 unchanged sentences

See Note 6 for additional information.

Reflects the amortization of an inventory step-up adjustment related the Donatelle Plastics Acquisition.

Acquisition, integration and separation costs related primarily to the Electronics Separation.

Reflects the loss on extinguishment of debt related to the partial redemption of an aggregate principal amount of the 2038 Notes.

Refer to Note 15 for further details.

Includes the non-cash mark-to-market loss related to the 2022 Swaps and 2024 Swaps, net interest settlement loss related to the 2022 Swaps and $ 2 million of basis amortization on the 2022 Swaps.

Includes the non-cash mark-to-market loss related to the 2022 Swaps and 2024 Swaps including the interest settlement loss on the 2022 Swaps and basis amortization on the 2022 Swaps ($ 1 million pre-tax, reflected in "Interest expense" within the Consolidated Statements of Operations).

Refer to Note 21 for further details.

Reflects the impact of an indemnified international tax audit.

Significant Items for the Year Ended December 31, 2023 Electronics & Industrial Water & Protection Corporate & Other Total

Acquisition, integration and separation costs 1

$ ( 20 ) $ — $ — $ ( 20 )

Reflects the impact of an international tax audit.

Reflects the amortization of an inventory step-up adjustment related the Donatelle Acquisition.

Significant Items for the Year Ended December 31, 2023 Healthcare & Water Technologies Diversified Industrials Corporate Total

Restructuring and asset related charges - net 1

$ ( 22 ) $ ( 20 ) $ ( 57 ) $ ( 99 )

Goodwill impairment charge 3

— ( 804 ) — ( 804 )

Gain on divestiture 4

Total $ ( 62 ) $ ( 858 ) $ ( 41 ) $ ( 961 )

Acquisition, integration and separation costs related to the Spectrum Acquisition.

Includes restructuring actions and asset related charges.

See Note 6 for additional information.

Reflects a non-cash goodwill impairment charge in the Protection Reporting unit (aggregation of Safety and Shelter businesses).

See Note 14 for additional information.

Reflected in "Sundry income (expense) - net."

Significant Items for the Year Ended December 31, 2022 Electronics & Industrial Water & Protection Corporate & Other Total

Acquisition, integration and separation costs 2

( 19 ) — — ( 19 )

Restructuring and asset related charges - net 2

( 24 ) ( 17 ) ( 20 ) ( 61 )

Asset impairment charges 3

( 94 ) — — ( 94 )

Gain on divestiture 4

Terminated Intended Rogers Acquisition financing fees 5

Goodwill impairment charges 3

— ( 668 ) — ( 668 )

Employee Retention Credit 6

Other benefit (credits), net 4

Total $ ( 41 ) $ ( 687 ) $ ( 56 ) $ ( 784 )

Acquisition, integration and separation costs related to strategic initiatives including the sale of the Biomaterials business unit, the acquisition of Laird PM, and the termination fee of $ 162.5 million associated with the Terminated Intended Rogers Corporation Acquisition.

Includes restructuring actions and asset related charges.

See Note 6 for additional information.

Relates to an impairment of an equity method investment.

See Note 6 for additional information.

Reflected in "Sundry income (expense) - net." See Note 4 for additional information.

Includes acquisition costs associated with the Terminated Intended Rogers Corporation Acquisition related to the financing agreements, specifically the structuring fees and the amortization of the commitment fees reflected in "Interest Expense."

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”) reflected in "Cost of sales," "Research and development expenses" and "Selling, general and administrative expenses."

Segment and Corporate & Other Information Electronics & Industrial Water & Protection Corporate & Other Total

Acquisition, integration and separation costs related to the Spectrum Acquisition.

Reflects a non-cash goodwill impairment charge in the Protection Reporting unit (aggregation of Safety and Shelter businesses).

Includes a gain on divestiture reflected in "Sundry income (expense) – net."

Segment and Corporate Information Healthcare & Water Technologies Diversified Industrials Corporate Total

For the Year Ended December 31, 2025

14 unchanged sentences

Total assets $ 21,575 $ 36,636 $ 38,552

Capital Expenditure Reconciliation to Consolidated Financial Statements 2024 2023 2022

Segment and Corporate & Other Totals $ 619 $ 590 $ 659

Capital Expenditure Reconciliation to Consolidated Financial Statements For the years ended December 31,

In millions 2025 2024 2023

Segment and Corporate Totals $ 295 $ 294 $ 294

Total $ 333 $ 285 $ 302

1 unchanged sentence

total capital expenditures are presented on a cash basis.

NOTE 24 - QUARTERLY FINANCIAL INFORMATION (UNAUDITED)

As discussed in Note 4, as a result of the Electronics Separation and Aramids Divestiture, historical net income of the Electronics and Aramids businesses are reported in DuPont's consolidated financial statements as discontinued operations.

The below provides unaudited summarized quarterly financial information on this basis to allow for meaningful comparison of continuing operations.

Quarterly Financial Information (Unaudited) First Quarter Second Quarter Third Quarter Fourth Quarter

Year ending December 31, 2025:

Net sales $ 1,612 $ 1,749 $ 1,795 $ 1,693

Cost of sales 1,069 1,143 1,179 1,095

Income (loss) from continuing operations before income taxes $ 97 $ 78 $ 91 $ ( 66 )

Income (loss) from continuing operations, net of tax $ 80 $ 24 $ 102 $ ( 108 )

(Loss) income from discontinued operations, net of tax $ ( 661 ) $ 46 $ ( 209 ) $ ( 12 )

Net (loss) income $ ( 581 ) $ 70 $ ( 107 ) $ ( 120 )

Net (loss) income available for DuPont common stockholders $ ( 589 ) $ 59 $ ( 123 ) $ ( 126 )

Per common share data:

Earnings (loss) per common share from continuing operations - basic 1

$ 0.19 $ 0.06 $ 0.23 $ ( 0.27 )

(Loss) earnings per common share from discontinued operations - basic 1

( 1.59 ) 0.08 ( 0.53 ) ( 0.03 )

(Loss) earnings per common share - basic 1

$ ( 1.41 ) $ 0.14 $ ( 0.29 ) $ ( 0.30 )

Earnings (loss) per common share from continuing operations - diluted 1

$ 0.19 $ 0.06 $ 0.23 $ ( 0.27 )

(Loss) earnings per common share from discontinued operations - diluted 1

( 1.59 ) 0.08 ( 0.53 ) ( 0.03 )

(Loss) earnings per common share - diluted 1

$ ( 1.40 ) $ 0.14 $ ( 0.29 ) $ ( 0.30 )

Year ending December 31, 2024:

Net sales $ 1,599 $ 1,717 $ 1,714 $ 1,689

Cost of sales 1,098 1,131 1,134 1,136

Income (loss) from continuing operations before income taxes $ 28 $ 1 $ 287 $ ( 199 )

Income (loss) from continuing operations, net of tax $ 2 $ ( 28 ) $ 221 $ ( 291 )

Income from discontinued operations, net of tax $ 196 $ 210 $ 243 $ 185

Net income (loss) $ 198 $ 182 $ 464 $ ( 106 )

Net income (loss) available for DuPont common stockholders $ 188 $ 178 $ 454 $ ( 117 )

Per common share data:

Earnings (loss) per common share from continuing operations - basic 1

$ — $ ( 0.06 ) $ 0.53 $ ( 0.70 )

Earnings per common share from discontinued operations - basic 1

0.44 0.49 0.56 0.42

Earnings (loss) per common share - basic 1

$ 0.44 $ 0.43 $ 1.09 $ ( 0.28 )

Earnings (loss) per common share from continuing operations - diluted 1

$ — $ ( 0.06 ) $ 0.52 $ ( 0.70 )

Earnings per common share from discontinued operations - diluted 1

0.44 0.49 0.56 0.42

Earnings (loss) per common share - diluted 1

$ 0.44 $ 0.43 $ 1.08 $ ( 0.28 )

Earnings (loss) per share amounts for the year may not equal the sum of the quarterly earnings (loss) per common share amounts due to the change in average share calculations.

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