Corteva, Inc.

The company operates in two reportable segments: Seed and Crop Protection.

Seed

The company’s Seed segment is a global leader in developing and supplying commercial seed combining superior germplasm with advanced traits to produce high yield potential for farmers around the world. The segment offers seed and trait technologies that improve resistance to weather, diseases, pests and herbicides used to manage weeds. Its digital solutions provide data driven insights that assist farmer decision-making with a view to optimize product selection and, ultimately, help maximize yield and profitability. The segment competes in a wide variety of agricultural markets.

Crop Protection

The Crop Protection segment serves the global agricultural input industry with products that protect against weeds, insects and other pests, and disease, and that improve overall crop health both above and below ground via nitrogen management and seed-applied technologies. The segment offers crop protection solutions and digital solutions that provide farmers the tools they need to improve productivity and profitability, and help keep fields free of weeds, insects and diseases. The segment is a leader in global herbicides, insecticides, nitrogen stabilizers, pasture and range management herbicides and biologicals.

Summarized below are comments on individual segment net sales and segment operating EBITDA for the three and six months ended June 30, 2026, compared with the same period in 2025. The company defines segment operating EBITDA as earnings (loss) (i.e., income (loss) from continuing operations before income taxes) before interest, depreciation, amortization, corporate expenses, non-operating benefits (costs), foreign exchange gains (losses), and net unrealized gain or loss from mark-to-market activity for certain foreign currency derivative instruments that do not qualify for hedge accounting, excluding the impact of significant items and separation costs. Non-operating benefits (costs) consists of non-operating pension and OPEB credits (costs), tax indemnification adjustments and environmental remediation and legal costs associated with legacy businesses and sites. Tax indemnification adjustments relate to changes in indemnification balances, as a result of the application of the terms of the Tax Matters Agreement, between Corteva and Dow and/or DuPont that are recorded by the company as pre-tax income or expense. See Note 17 - Segment Information, to the interim Consolidated Financial Statements, for details related to significant pre-tax benefits (charges) excluded from segment operating EBITDA. All references to prices are based on local price unless otherwise specified.

A reconciliation of segment operating EBITDA to income (loss) from continuing operations after income taxes for the three and six months ended June 30, 2026 and 2025 is included in Note 17 - Segment Information, to the interim Consolidated Financial Statements.

Seed

Seed net sales were $4,532 million in the second quarter of 2026, flat with $4,537 million in the second quarter of 2025. The flat sales over the prior period was driven by a 3 percent increase in price, partially offset by a 3 percent decrease in volume. The increase in pricing and mix was driven by demand for top technology and increased out-licensing income, while the decline in volume was driven by timing shifts in North America and Brazil, coupled with the acreage shift from corn to soybean in North America and corn to sunflower in EMEA.

Segment operating EBITDA was$1,966 million in the second quarter of 2026, up 6 percent from$1,863 million in second quarter of 2025. The improvement was driven bymore favorable pricing and mix, reductions in net royalty expense, and ongoing cost and productivity actions, which more than offset lower volumes, increased research and development expense and functional cost. Segment operating EBITDA margin improved by approximately 230 basis points versus the prior-year period.

Seed net sales were $7,555 million in the first half of 2026, up 4 percent from $7,244 million in the first half of quarter of 2025. The sales increase over the prior period was driven by a 3 percent increase in price and a 1 percent favorable impact from currency. Pricing and mix gains in all regions, led by North America, demonstrate demand for top technology and the strength of the portfolio, coupled with increased out-licensing income. Volumes were flat, as higher soybean area in North America was offset by lower corn area in North America and timing shifts in Latin America. Favorable currency impacts were led by the Euro and the Brazilian Real, partially offset by the Turkish Lira.

Segment operating EBITDA was $3,000 million in thefirst half of 2026, up 11 percent from $2,705 million infirst half of 2025. The improvement was driven by more favorable pricing and mix, reductions in net royalty expense and ongoing cost and productivity actions, all of which more than offset increased selling, administrative and research and development expenses, including higher bad debt. Segment operating EBITDA margin improved by approximately 235 basis points versus the prior-year period.

Crop Protection

Crop Protection net sales were $1,847 million in the second quarter of 2026, down 4 percent from $1,919 million in the second quarter of 2025. The sales decrease over the prior period was driven by a 4 percent decrease in price and a 2 percent decrease in volume, partially offset by a 2 percent favorable impact from currency. The price decline was primarily due to the competitive pricing environment in Latin America. The decrease in volume was driven primarily by channel purchase timing in North America, coupled with dry weather in EMEA, partially offset by broad-based volume growth in Asia Pacific. Favorable currency impacts were led by the Brazilian Real and the Euro.

Segment operating EBITDA was $342 million in the second quarter of 2026, up 2 percent from $334 million in the second quarter of 2025. Ongoing cost and productivity actions and favorable currency impacts more than offset the unfavorable impact of volume and Latin America price pressure. Segment operating EBITDA margin improved by approximately 110 basis points versus the prior-year period.

Crop Protection net sales were $3,729 million in the first half of 2026, up 3 percent from $3,629 million in the first half of 2025. The sales increase over the prior period was driven by a 4 percent favorable impact from currency and a 2 percent increase in volume, partially offset by a 3 percent decrease in price. Favorable currency impacts were led by the Euro and Brazilian Real. The increase in volume was driven by demand for new products, partially offset by channel purchase timing in North America. The price decline was primarily due to market dynamics in Latin America.

Segment operating EBITDA was $776 million in the first half of 2026, up 9 percent from $711 million in the first half of 2025. Ongoing cost and productivity actions, favorable currency impacts and volume growth more than offset the unfavorable impact of Latin America price pressure and higher selling and administrative expenses. Segment operating EBITDA margin improved by approximately 120 basis points versus the prior-year period.