Corteva 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. EIDP incurred interest expense of $20 million and $46 million and paid interest of $40 million and $48 million for the years ended December 31, 2023 and 2022, respectively, associated with the related party loan to Corteva, Inc., net of interest income earned from the below-noted Master In-House Banking Agreement.

EIDP and Corteva, including certain consolidated subsidiaries (collectively the “Participating Companies”), are party to a Master In-House Banking Agreement, which established banking arrangements to facilitate the management of the cash and liquidity needs of the Participating Companies. Historically, in periods where EIDP had a net amount due from Corteva, Inc., EIDP classified the amount within other assets given Corteva, Inc. had both the ability and intent to repay the amounts due. Beginning in the fourth quarter of 2024, Corteva, Inc.'s intent to repay the amounts due changed and therefore, borrowings under this agreement are now classified within equity of EIDP. As of December 31, 2024, EIDP had a due from parent of $129 million classified within the equity section of EIDP’s Consolidated Balance Sheets, after EIDP’s issuance of a $1,750 million dividend to Corteva, Inc. during the fourth quarter of 2024 which was utilized by Corteva, Inc. to repay amounts due to EIDP. As of December 31, 2023, EIDP had a $377 million receivable from Corteva, Inc. related to this agreement within other assets on EIDP's Consolidated Balance Sheets. Additionally, through the third quarter of 2024, EIDP earned interest income from Corteva, Inc. of $38 million under this agreement, which is reflected as other income (expense) - net in EIDP's Consolidated Statements of Operations.

As of December 31, 2024 and 2023, EIDP had payables to Corteva, Inc. of $9 million and $30 million, included in accrued and other current liabilities, respectively, and $149 million and $106 million included in other noncurrent obligations, respectively, in the Consolidated Balance Sheets related to Corteva's indemnification liabilities to Dow and DuPont per the Separation Agreements (refer to page F-37 of the Corteva, Inc. Consolidated Financial Statements for further details of the Separation Agreements).