EIDP Inc

NOTE 2 - RELATED PARTY TRANSACTIONS

Transactions with Corteva

In the second quarter of 2019, EIDP entered into a related party revolving loan from Corteva, Inc., with a maturity date in 2024. EIDP repaid the outstanding related party revolving loan balance during the fourth quarter of 2023. As of June 30, 2023, the outstanding related party loan balance was $268 million (which approximates fair value), with an interest rate of 7.00%. The balance at June 30, 2023 was reflected as long-term debt - related party in EIDP's interim Consolidated Balance Sheets. Additionally, EIDP incurred tax deductible interest expense of $7 million and $20 million for the three and six months ended June 30, 2023, associated with the related party loan from Corteva, Inc.

EIDP and Corteva, including certain consolidated subsidiaries (collectively the “Participating Companies”), are party to a Master In-House Banking Agreement, which established banking arrangements to facilitate the management of the cash and liquidity needs of the Participating Companies. As of June 30, 2024, EIDP had receivables from Corteva, Inc. of $1,120 million included in other assets in the interim Consolidated Balance Sheets related to this agreement.

As of June 30, 2024, December 31, 2023 and June 30, 2023, EIDP had payables to Corteva, Inc., of $24 million, $30 million and $44 million included in accrued and other current liabilities, respectively, and $140 million, $106 million and $115 million, included in other noncurrent obligations, respectively, in the interim Consolidated Balance Sheets related to Corteva's indemnification liabilities to Dow and DuPont per the Separation Agreements (refer to page 22 of the Corteva, Inc. interim Consolidated Financial Statements for further details of the Separation Agreements).