Item 15. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES, continued

10.14						E. I. du Pont de Nemours and Company’s Retirement Income Plan for Directors, as last amended January 2011 (incorporated by reference to Exhibit 10.9 to E. I. du Pont de Nemours and Company’s Quarterly Report on Form 10-Q (Commission file number 1-815) for the period ended March 31, 2012).
10.15						Supplemental Agreement to the Memorandum of Understanding between The Chemours Company, Corteva, Inc., E. I. du Pont de Nemours and Company and DuPont de Nemours, Inc., dated September 5, 2023 (incorporated by reference to Exhibit 10.1 to Corteva’s Quarterly Report on Form 10-Q (Commission file number 001-38710), filed on November 9, 2023).
10.16						Corteva, Inc. Severance Plan (incorporated by reference to Exhibit 10.2 to Corteva’s Current Report on Form 8-K (Commission file number 001-38710), filed on October 28, 2021).
10.17*						Letter Agreement effective as of June 1, 2019 by and between DowDuPont Inc. and Corteva, Inc. (incorporated by reference to Exhibit 10.2 to Corteva's Current Report on Form 8-K (Commission file number 001-38710) filed June 3, 2019)
10.18*						Memorandum of Understanding, dated January 22, 2021, by and among The Chemours Company, Corteva, Inc., E. I. du Pont de Nemours and Company and DuPont de Nemours, Inc. (incorporated by reference from the Form 8-K (Commission file number 001-38710) filed January 22, 2021)
10.19						Judicial Consent Order between The State of New Jersey and The Chemours Company, DuPont de Nemours, Inc., together with Corteva, Inc. and EIDP, Inc.
10.20						Letter Agreement, effective November 1, 2025, between DuPont de Nemours, Inc., Corteva, Inc., and Qnity Electronics, Inc.
10.21						Form of Award Terms for Restricted Stock Units granted under the Corteva, Inc. 2019 Omnibus Incentive Plan for U.S. grantees.
10.22						Form of Award Terms of Options granted under the Corteva, Inc. 2019 Omnibus Incentive Plan for .U.S. grantees.
10.23						Form of Performance Stock Units granted under the Corteva, Inc. 2019 Omnibus Incentive Plan for U.S. grantees.
10.24						Amendment to EIDP, Inc.’s Retirement Savings Restoration Plan. (incorporated by reference to Exhibit No. 10.2 to Corteva’s and EIDP’s Quarterly Report on Form 10-Q (Commission file numbers 001-38710 and 001-00815, respectively), filed on August 4, 2023).
10.25						Corteva, Inc. Global Omnibus Employee Stock Purchase Plan (incorporated by reference from Exhibit 4.3 to Corteva’s Registration Statement on Form S-8 (Commission file number 333-249887), filed November 5, 2020).
19						Corteva Insider Trading Policy
21						Subsidiaries of the Registrant.
23.1						Consent of Independent Registered Public Accounting Firm, PricewaterhouseCoopers LLP - Corteva, Inc.
23.2						Consent of Independent Registered Public Accounting Firm, PricewaterhouseCoopers LLP - EIDP, Inc.
31.1						Rule 13a-14(a)/15d-14(a) Certification of the company’s and EIDP’s Principal Executive Officer.
31.2						Rule 13a-14(a)/15d-14(a) Certification of the company’s and EIDP’s Principal Financial Officer.
32.1						Section 1350 Certification of the company’s and EIDP’s Principal Executive Officer. The information contained in this Exhibit shall not be deemed filed with the Securities and Exchange Commission nor incorporated by reference in any registration statement filed by the registrant under the Securities Act of 1933, as amended.
32.2						Section 1350 Certification of the company’s and EIDP’s Principal Financial Officer. The information contained in this Exhibit shall not be deemed filed with the Securities and Exchange Commission nor incorporated by reference in any registration statement filed by the registrant under the Securities Act of 1933, as amended.
97						Corteva, Inc. Clawback Policy (incorporated by reference from Exhibit 97 to Corteva’s and EIDP’s Annual Report on Form 10-K (Commission file numbers 001-38710 and 001-00815, respectively), filed on February 8, 2024).
101.INS						XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.
101.SCH						Inline XBRL Taxonomy Extension Schema Document
101.CAL						Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF						Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB						Inline XBRL Taxonomy Extension Label Linkbase Document
101.PRE						Inline XBRL Taxonomy Extension Presentation Linkbase Document
104						Cover Page Interactive Data File – The Cover Page XBRL tags are embedded within the Inline XBRL document (included in Exhibit 101.INS)

• Upon request of the U.S. Securities and Exchange Commission (the "SEC"), Corteva hereby undertakes to furnish supplementally a copy of any omitted schedule or exhibit to such agreement; provided, however, that Corteva may omit confidential information pursuant to Item 601(b)(10) or request confidential treatment pursuant to Rule 24b-2 of the Exchange Act of any schedule or exhibit so furnished.

Corteva, Inc.

Pursuant to the requirements of Section 13 of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

February 12, 2026
			Corteva, Inc.
			By:			/s/ Brian Titus
						Brian Titus Vice President, Controller (Principal 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 in the capacities and on the dates indicated:

Signature						Title(s)						Date
/s/ Charles V. Magro						Chief Executive Officer and Director (Principal Executive Officer)						February 12, 2026
Charles V. Magro
/s/ Gregory R. Page						Non-Executive Chairman of the Board of Directors and Director						February 12, 2026
Gregory R. Page
/s/ Lamberto Andreotti						Director						February 12, 2026
Lamberto Andreotti
/s/ David C. Everitt						Director						February 12, 2026
David C. Everitt
/s/ Klaus A. Engel						Director						February 12, 2026
Klaus A. Engel
/s/ Michael O. Johanns						Director						February 12, 2026
Michael O. Johanns
/s/ Janet P. Giesselman						Director						February 12, 2026
Janet P. Giesselman
/s/ Karen H. Grimes						Director						February 12, 2026
Karen H. Grimes
/s/ Marcos M. Lutz						Director						February 12, 2026
Marcos M. Lutz
/s/ Nayaki R. Nayyar						Director						February 12, 2026
Nayaki R. Nayyar
/s/ Kerry J. Preete						Director						February 12, 2026
Kerry J. Preete
/s/ Patrick J. Ward						Director						February 12, 2026
Patrick J. Ward
/s/ David P. Johnson						Executive Vice President and Chief Financial Officer (Principal Financial Officer)						February 12, 2026
David P. Johnson

EIDP, Inc.

Pursuant to the requirements of Section 13 of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

February 12, 2026
			EIDP, Inc.
			By:			/s/ Brian Titus
						Brian Titus Vice President, Controller (Principal 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 in the capacities and on the dates indicated:

Signature						Title(s)						Date
/s/ Charles V. Magro						Chief Executive Officer and Director (Principal Executive Officer)						February 12, 2026
Charles V. Magro
/s/ David P. Johnson						Executive Vice President, Chief Financial Officer and Director (Principal Financial Officer)						February 12, 2026
David P. Johnson

Corteva, Inc.

Index to the Consolidated Financial Statements

			Page(s)
Management's Reports on Responsibility for Financial Statements and Internal Control over Financial Reporting			F-2
Report of Independent Registered Public Accounting Firm (PCAOB ID 238)			F-3
Consolidated Financial Statements:
Consolidated Statements of Operations for the years ended December 31, 2025, 2024, and 2023			F-5
Consolidated Statements of Comprehensive Income (Loss) for the years ended December 31, 2025, 2024, and 2023			F-6
Consolidated Balance Sheets as of December 31, 2025 and 2024			F-7
Consolidated Statements of Cash Flows for the years ended December 31, 2025, 2024, and 2023			F-8
Consolidated Statements of Equity for the years ended December 31, 2025, 2024, and 2023			F-9
Notes to the Consolidated Financial Statements			F-10

F-1

Management's Reports on Responsibility for Financial Statements and

Internal Control over Financial Reporting

Management's Report on Responsibility for Financial Statements

Management is responsible for the Consolidated Financial Statements and the other financial information contained in this Annual Report on Form 10-K. The financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP") and are considered by management to present fairly the company's financial position, results of operations and cash flows. The financial statements include some amounts that are based on management's best estimates and judgments. The Consolidated Financial Statements have been audited by the company's independent registered public accounting firm, PricewaterhouseCoopers LLP. The purpose of their audit is to express an opinion as to whether the Consolidated Financial Statements included in this Annual Report on Form 10-K present fairly, in all material respects, the company's financial position, results of operations and cash flows in conformity with GAAP. Their report is presented on the following pages.

Management's Report on Internal Control over Financial Reporting

Management is responsible for establishing and maintaining an adequate system of internal control over financial reporting as defined in Rules 13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934. The company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with GAAP. The 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 authorization of management and directors of the company; and

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

Internal control over financial reporting has certain inherent limitations which may not prevent or detect misstatements. In addition, changes in conditions and business practices may cause variation in the effectiveness of internal controls.

Management assessed the effectiveness of the company's internal control over financial reporting as of December 31, 2025, based on criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission ("COSO") in Internal Control-Integrated Framework (2013). Based on its assessment and those criteria, management concluded that the company maintained effective internal control over financial reporting as of December 31, 2025.

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

Charles V. Magro Chief Executive Officer and Director						David P. Johnson Executive Vice President and Chief Financial Officer

February 12, 2026

F-2

Report of Independent Registered Public Accounting Firm

To the Board of Directors and Stockholders of Corteva, Inc.

Opinions on the Financial Statements and Internal Control over Financial Reporting

We have audited the accompanying consolidated balance sheets of Corteva, Inc. and its subsidiaries (the "Company") as of December 31, 2025 and 2024, and the related consolidated statements of operations, of comprehensive income (loss), of equity and of cash flows for each of the three years in the period ended December 31, 2025, including the related notes and schedule of valuation and qualifying accounts for each of the three years in the period ended December 31, 2025 appearing under Item 15 (collectively referred to as the "consolidated financial statements"). We also have audited the Company's internal control over financial reporting as of December 31, 2025, based on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of the Company as of December 31, 2025 and 2024, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2025 in conformity with accounting principles generally accepted in the United States of America. Also in our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2025, based on criteria established in Internal Control - Integrated Framework (2013) issued by the COSO.

Basis for Opinions

The Company's management is responsible for these consolidated financial statements, for maintaining effective internal control over financial reporting, and for its assessment of the effectiveness of internal control over financial reporting, included in the accompanying Management’s Report on Internal Control over Financial Reporting. Our responsibility is to express opinions on the Company’s consolidated financial statements and on the Company's internal control over financial reporting based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud, and whether effective internal control over financial reporting was maintained in all material respects.

Our audits of the consolidated financial statements included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. Our audit of internal control over financial reporting included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. Our audits also included performing such other procedures as we considered necessary in the circumstances. We believe that our audits provide a reasonable basis for our opinions.

Definition and Limitations of Internal Control over Financial Reporting

A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. 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

F-3

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.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

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.

Revenue Recognition - Product Sales

As described in Notes 2 and 4 to the consolidated financial statements, net sales were $17.401 billion for the year ended December 31, 2025. Substantially all of Corteva's revenue is derived from product sales. Revenue is recognized from product sales when the 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. Control transfer occurs at a point in time according to shipping terms. The transaction price includes estimates of variable consideration, such as rights of return, rebates, and discounts, that are reductions in revenue. All estimates are based on the Company's historical experience, anticipated performance, and management’s best judgment at the time the estimate is made. Estimates of variable consideration included in the transaction price primarily utilize the expected value method based on historical experience. These estimates are reassessed each reporting period and are included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur upon resolution of uncertainty associated with the variable consideration. The majority of contracts have a single performance obligation satisfied at a point in time and the transaction price is stated in the contract, usually as quantity times price per unit.

The principal consideration for our determination that performing procedures relating to revenue recognition for product sales is a critical audit matter is a high degree of auditor effort in performing procedures related to the Company’s revenue recognition.

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 the revenue recognition process. These procedures also included, among others (i) evaluating revenue transactions by testing, on a sample basis, the revenue recognized by obtaining and inspecting source documents, such as purchase orders, invoices, shipment or delivery documents, and cash receipts, as applicable; (ii) testing, on a sample basis, the recognition of variable consideration for rebates issued and discounts granted during the year by obtaining and inspecting source documents, such as support for the nature of the variable consideration, amount, and agreement with the customer; and (iii) confirming, on a sample basis, outstanding customer invoice balances as of year-end, and, for confirmations not returned, obtaining and inspecting source documents, including invoices, shipment or delivery documents, and subsequent cash receipts, as applicable.

/s/ PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

February 12, 2026

We have served as the Company’s or its predecessor’s auditor since 1946.

F-4

Corteva, Inc.

Consolidated Financial Statements

CONSOLIDATED STATEMENTS OF OPERATIONS

(In millions, except per share amounts)			For the Year Ended December 31,
			2025			2024			2023
Net sales			$	17,401		$	16,908		$	17,226
Cost of goods sold			9,172			9,529			9,920
Research and development expense			1,474			1,402			1,337
Selling, general and administrative expenses			3,492			3,196			3,176
Amortization of intangibles			644			685			683
Restructuring and asset related charges - net			146			288			336
Separation costs			35			—			—
Other income (expense) - net			(570)			(300)			(448)
Interest expense			180			233			233
Income (loss) from continuing operations before income taxes			1,688			1,275			1,093
Provision for (benefit from) income taxes on continuing operations			484			412			152
Income (loss) from continuing operations after income taxes			1,204			863			941
Income (loss) from discontinued operations after income taxes			(99)			56			(194)
Net income (loss)			1,105			919			747
Net income (loss) attributable to noncontrolling interests			11			12			12
Net income (loss) attributable to Corteva			$	1,094		$	907		$	735
Basic earnings (loss) per share of common stock:
Basic earnings (loss) per share of common stock from continuing operations			$	1.75		$	1.23		$	1.31
Basic earnings (loss) per share of common stock from discontinued operations			(0.15)			0.08			(0.27)
Basic earnings (loss) per share of common stock			$	1.60		$	1.31		$	1.04
Diluted earnings (loss) per share of common stock:
Diluted earnings (loss) per share of common stock from continuing operations			$	1.75		$	1.22		$	1.30
Diluted earnings (loss) per share of common stock from discontinued operations			(0.15)			0.08			(0.27)
Diluted earnings (loss) per share of common stock			$	1.60		$	1.30		$	1.03

See Notes to the Consolidated Financial Statements beginning on page F-11.

F-5

Corteva, Inc.

Consolidated Financial Statements

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(In millions)			For the Year Ended December 31,
2025			2024			2023
Net income (loss)			$	1,105		$	919		$	747
Other comprehensive income (loss) - net of tax:
Cumulative translation adjustments			867			(1,014)			425
Adjustments to pension benefit plans			(152)			127			(190)
Adjustments to other benefit plans			(26)			30			29
Unrealized gain (loss) on investments			6			(6)			—
Derivative instruments			(23)			71			(135)
Total other comprehensive income (loss)			672			(792)			129
Comprehensive income (loss)			1,777			127			876
Comprehensive income (loss) attributable to noncontrolling interests - net of tax			11			12			12
Comprehensive income (loss) attributable to Corteva			$	1,766		$	115		$	864

See Notes to the Consolidated Financial Statements beginning on page F-11.

F-6

Corteva, Inc.

Consolidated Financial Statements

CONSOLIDATED BALANCE SHEETS

(In millions, except share and per share amounts)			December 31, 2025			December 31, 2024
Assets
Current assets
Cash and cash equivalents			$	4,521		$	3,106
Marketable securities			9			63
Accounts and notes receivable - net			6,371			5,676
Inventories			5,667			5,432
Other current assets			767			820
Total current assets			17,335			15,097
Investment in nonconsolidated affiliates			160			134
Property, plant and equipment			9,551			9,074
Less: Accumulated depreciation			5,331			4,975
Net property, plant and equipment			4,220			4,099
Goodwill			10,465			10,408
Other intangible assets			8,301			8,876
Deferred income taxes			320			401
Other assets			2,044			1,810
Total Assets			$	42,845		$	40,825
Liabilities and Equity
Current liabilities
Short-term borrowings and finance lease obligations			$	894		$	750
Accounts payable			4,398			4,039
Income taxes payable			155			207
Deferred revenue			3,579			3,287
Accrued and other current liabilities			3,099			2,103
Total current liabilities			12,125			10,386
Long-term debt			1,686			1,953
Other noncurrent liabilities
Deferred income tax liabilities			251			478
Pension and other post-employment benefits			2,434			2,271
Other noncurrent obligations			1,963			1,707
Total noncurrent liabilities			6,334			6,409
Commitments and contingent liabilities
Stockholders’ equity
Common stock, $0.01 par value;1,666,667,000 shares authorized; issued at December 31, 2025 - 672,163,000 and December 31, 2024 - 685,595,000			7			7
Additional paid-in capital			27,001			27,196
Retained earnings (accumulated deficit)			(67)			55
Accumulated other comprehensive income (loss)			(2,797)			(3,469)
Total Corteva stockholders’ equity			24,144			23,789
Noncontrolling interests			242			241
Total equity			24,386			24,030
Total Liabilities and Equity			$	42,845		$	40,825

See Notes to the Consolidated Financial Statements beginning on page F-11.

F-7

Corteva, Inc.

Consolidated Financial Statements

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In millions)			For the Year Ended December 31,
2025			2024			2023
Operating activities
Net income (loss)			$	1,105		$	919		$	747
(Income) loss from discontinued operations after income taxes			99			(56)			194
Adjustments to reconcile net income (loss) to cash provided by (used for) operating activities:
Depreciation and amortization			1,203			1,227			1,211
Provision for (benefit from) deferred income tax			(41)			(365)			(438)
Net periodic pension and OPEB (benefit) cost, net			36			160			138
Pension and OPEB contributions			(136)			(151)			(149)
Net (gain) loss on sales of property, businesses, consolidated companies, and investments			(41)			(17)			(22)
Restructuring and asset related charges - net			146			288			336
Other net loss			545			383			578
Changes in assets and liabilities, net
Accounts and notes receivable			(261)			(705)			358
Inventories			(35)			1,110			57
Accounts payable			231			(115)			(663)
Deferred revenue			270			(86)			(11)
Other assets and liabilities			336			(296)			(527)
Cash provided by (used for) operating activities - continuing operations			3,457			2,296			1,809
Cash provided by (used for) operating activities - discontinued operations			(51)			(151)			(40)
Cash provided by (used for) operating activities			3,406			2,145			1,769
Investing activities
Capital expenditures			(591)			(597)			(595)
Proceeds from sales of property, businesses, and consolidated companies - net of cash divested			54			5			57
Acquisitions of businesses - net of cash acquired			—			—			(1,456)
Investments in and loans to nonconsolidated affiliates			(20)			(7)			(32)
Purchases of investments			—			(144)			(148)
Proceeds from sales and maturities of investments			135			130			147
Proceeds from (payments for) settlement of net investment hedge			(83)			63			42
Other investing activities, net			(38)			(39)			(2)
Cash provided by (used for) investing activities			(543)			(589)			(1,987)
Financing activities
Net change in borrowings (less than 90 days)			—			53			(6)
Proceeds from debt			1,730			3,072			3,429
Payments on debt			(1,871)			(2,885)			(2,309)
Repurchase of common stock			(1,071)			(1,009)			(756)
Proceeds from exercise of stock options			88			60			31
Dividends paid to stockholders			(475)			(458)			(439)
Other financing activities, net			(45)			(32)			(49)
Cash provided by (used for) financing activities			(1,644)			(1,199)			(99)
Effect of exchange rate changes on cash, cash equivalents and restricted cash equivalents			84			(93)			(143)
Increase (decrease) in cash, cash equivalents and restricted cash equivalents			1,303			264			(460)
Cash, cash equivalents and restricted cash equivalents at beginning of period			3,422			3,158			3,618
Cash, cash equivalents and restricted cash equivalents at end of period 1			$	4,725		$	3,422		$	3,158
Supplemental cash flow information
Cash paid during the period for
Interest, net of amounts capitalized			$	191		$	244		$	234
Income taxes			750			707			535

1. See page F-22 for reconciliation of cash and cash equivalents and restricted cash equivalents presented in the Consolidated Balance Sheets to total cash, cash equivalents and restricted cash equivalents presented in the Consolidated Statements of Cash Flows.

See Notes to the Consolidated Financial Statements beginning on page F-11.

F-8

Corteva, Inc.

Consolidated Financial Statements

CONSOLIDATED STATEMENTS OF EQUITY

(In millions)			Common Stock			Additional Paid-in Capital						Retained Earnings (Accum. Deficit)			Accumulated Other Comp. Income (Loss)			Non-Controlling Interests			Total Equity
Balance at January 1, 2023			$	7		$	27,851					$	250		$	(2,806)		$	239		$	25,541
Net income (loss)												735						12			747
Other comprehensive income (loss)															129						129
Share-based compensation						28						(2)									26
Common dividends ($0.62 per share)												(439)									(439)
Repurchase of common stock						(171)						(585)									(756)
Issuance of Corteva stock						40															40
Other - net																		(9)			(9)
Balance at December 31, 2023			$	7		$	27,748					$	(41)		$	(2,677)		$	242		$	25,279
Net income (loss)												907						12			919
Other comprehensive income (loss)															(792)						(792)
Share-based compensation						47						(2)									45
Common dividends ($0.66 per share)						(229)						(229)									(458)
Repurchase of common stock						(430)						(579)									(1,009)
Issuance of Corteva stock						60															60
Other - net												(1)						(13)			(14)
Balance at December 31, 2024			$	7		$	27,196					$	55		$	(3,469)		$	241		$	24,030
Net income (loss)												1,094						11			1,105
Other comprehensive income (loss)															672						672
Share-based compensation						57						(2)									55
Common dividends ($0.70 per share)						(116)						(359)									(475)
Repurchase of common stock						(221)						(850)									(1,071)
Issuance of Corteva stock						88															88
Other - net						(3)						(5)						(10)			(18)
Balance at December 31, 2025			$	7		$	27,001					$	(67)		$	(2,797)		$	242		$	24,386

See Notes to the Consolidated Financial Statements beginning on page F-11.

F-9

Corteva, Inc.

Notes to the Consolidated Financial Statements

Table of Contents

Note						Page
1			Background and Basis of Presentation			F-11
2			Summary of Significant Accounting Policies			F-12
3			Recent Accounting Guidance			F-16
4			Revenue			F-17
5			Restructuring and Asset Related Charges - Net			F-19
6			Supplementary Information			F-21
7			Income Taxes			F-23
8			Earnings Per Share of Common Stock			F-28
9			Accounts and Notes Receivable - Net			F-29
10			Inventories			F-30
11			Property, Plant and Equipment			F-30
12			Goodwill and Other Intangible Assets			F-30
13			Leases			F-31
14			Short-Term Borrowings, Long-Term Debt and Available Credit Facilities			F-33
15			Commitments and Contingent Liabilities			F-35
16			Stockholders' Equity			F-45
17			Pension Plans and Other Post-Employment Benefits			F-47
18			Stock-Based Compensation			F-56
19			Financial Instruments			F-58
20			Fair Value Measurements			F-65
21			Geographic Information			F-64
22			Segment Information			F-65

F-10

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

NOTE 1 - BACKGROUND AND BASIS OF PRESENTATION

Corteva, Inc. is a leading global provider of seed and crop protection solutions focused on the agriculture industry. The company intends to leverage its rich heritage of scientific achievement to advance its robust innovation pipeline and continue to shape the future of responsible agriculture. The company's broad portfolio of agriculture solutions fuels farmer productivity around the globe. Corteva has two operating segments: Seed and Crop Protection. See Note 22 - Segment Information, to the Consolidated Financial Statements, for additional information on the company's operating segments.

Throughout these financial statements, except as otherwise noted by the context, the terms "Corteva" or "company" used herein mean Corteva, Inc. and its consolidated subsidiaries (including EIDP) and the term “EIDP” used herein means EIDP, Inc. (formerly known as E. I. du Pont de Nemours and Company) and its consolidated subsidiaries or EIDP, Inc. excluding its consolidated subsidiaries, as the context may indicate.

Principles of Consolidation and Basis of Presentation

The consolidated financial statements contained in this Annual Report were prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for all periods presented and include the accounts of the company, its majority owned subsidiaries over which the company exercises control. The Consolidated Financial Statements and other financial information included in this Annual Report, unless otherwise specified, have been presented to separately show the effects of discontinued operations.

On June 1, 2019, Corteva, Inc. became an independent, publicly traded company through the completed separation of the agriculture business (the “Corteva Separation”) of DuPont de Nemours, Inc. (formerly known as DowDuPont Inc.) (“DowDuPont” or “DuPont”). The Corteva Separation was effectuated through a pro rata distribution (the “Corteva Distribution”) of all of the then-issued and outstanding shares of common stock of Corteva, Inc.

Prior to the Corteva Separation, subsequent to the Merger, Historical Dow and EIDP engaged in a series of internal reorganization and realignment steps to realign their businesses into three subgroups: agriculture, materials science and specialty products ("Internal Reorganization"). On April 1, 2019, DowDuPont completed the separation of its materials science business into a separate and independent public company by way of a distribution of Dow common stock to holders of DowDuPont's common stock (the “Dow Distribution” and together with the Corteva Distribution, the “Distributions”).

On April 1, 2019, Historical Dow entities, which held certain assets and liabilities aligned with Historical Dow’s agriculture business and the assets and liabilities associated with its specialty products business, respectively, were transferred and conveyed to DowDuPont.

On April 1, 2019 and May 1, 2019, EIDP’s materials science and specialty products entities, along with their respective assets and liabilities, were conveyed to Dow and DowDuPont, respectively. On May 2, 2019, DowDuPont conveyed Historical Dow agricultural entities to EIDP.

On May 6, 2019, the Board of Directors of DowDuPont approved the distribution of all the then issued and outstanding shares of common stock of Corteva, Inc., then a wholly-owned subsidiary of DowDuPont, to DowDuPont stockholders. On May 31, 2019, DowDuPont contributed EIDP to Corteva, Inc. and on June 1, 2019, the Corteva Separation was completed. Information related to the Corteva Distribution and its effect on the company's financial statements is discussed throughout these Notes to the Consolidated Financial Statements.

Since 2018, Argentina has been considered a highly-inflationary economy under U.S. GAAP and, therefore, the U.S. Dollar (“USD”) is the functional currency for our related subsidiaries. Argentina contributes approximately 3 percent to the company's annual net sales and approximately 1 percent to each of the company's annual Seed and Crop Protection segment operating EBITDA. The company remeasures net monetary assets and translates the financial statements utilizing the official Argentine Peso (“Peso”) to USD exchange rate. The ability to draw down Peso cash balances is limited at this time due to government restrictions and market availability of U.S. Dollars. The devaluation of the Peso relative to the USD over the last several years has resulted in the recognition of exchange losses (refer to Note 6 – Supplementary Information, to the Consolidated Financial Statements). The Argentina government has offered USD-denominated bonds to importers, the proceeds from which could be used to pay off outstanding intercompany payables. As of December 31, 2025, the company holds these foreign government bonds with an amortized cost of $30 million as part of its strategy to manage its net monetary asset exposure in Argentina. Refer to the “Debt Securities” section in Note 19 - Financial Instruments, to the Consolidated Financial Statements, for additional information. As of December 31, 2025, a further 10 percent deterioration in the official Peso to USD exchange rate

F-11

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

would not have a significant impact on the USD value of our net monetary assets or pre-tax earnings. The company will continue to assess the implications to its operations and financial reporting.

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The Consolidated Financial Statements include the accounts of the company and subsidiaries in which a controlling interest is maintained. For those consolidated subsidiaries in which the company's ownership is less than 100 percent, the outside stockholders' interests are shown as noncontrolling interests. Investments in affiliates over which the company has the ability to exercise significant influence but does not have a controlling interest are accounted for under the equity method.

The company is also involved with certain joint ventures accounted for under the equity method of accounting that are variable interest entities ("VIEs"). The company is not the primary beneficiary, as the nature of the company's involvement with each VIE does not provide it the power to direct the VIE's significant activities. Future events may require these VIEs to be consolidated if the company becomes the primary beneficiary. 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.

Use of Estimates in Financial Statement Preparation

The preparation of financial statements in accordance with U.S. GAAP requires the use of estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. The company’s consolidated financial statements include amounts that are based on management’s best estimates and judgments. Actual results could differ from those estimates.

Cash and Cash Equivalents

Cash equivalents represent highly liquid investments with maturities of three months or less from time of purchase. They are carried at cost plus accrued interest.

Restricted Cash Equivalents

Restricted cash equivalents primarily relates to a trust funded by EIDP for cash obligations under certain non-qualified benefit and deferred compensation plans due to the Merger, which was a change in control event, and contributions to escrow accounts established for the settlement of certain legal matters and the settlement of legacy PFAS matters and the associated qualified spend. Corteva classifies restricted cash equivalents as current or noncurrent based on the nature of the restrictions, which are included in other current assets and other assets, respectively, in the Consolidated Balance Sheets. See Note 6 - Supplementary Information, to the Consolidated Financial Statements, for further information.

Marketable Securities

Marketable securities represent investments in fixed and floating rate financial instruments with maturities greater than three months and up to twelve months at time of purchase. Investments classified as held-to-maturity are recorded at amortized cost. The carrying value approximates fair value due to the short-term nature of the investments. Investments classified as debt securities that are available-for-sale are carried at estimated fair value with unrealized gains and losses recorded as a component of accumulated other comprehensive income (loss) or current period earnings if an allowance for credit losses has been established. The cost of investments sold is determined by specific identification.

Fair Value Measurements

Under the accounting guidance for fair value measurements and disclosures, a fair value hierarchy was established that prioritizes the inputs to valuation techniques used to measure fair value. A financial instrument's level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.

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

Level 1			–			Quoted market prices in active markets for identical assets or liabilities.
Level 2			–			Significant other observable inputs (e.g., quoted prices for similar items in active markets, quoted prices for identical or similar items in markets that are not active, inputs other than quoted prices that are observable such as interest rate and yield curves, and market-corroborated inputs).
Level 3			–			Unobservable inputs for the asset or liability, which are valued based on management's estimates of assumptions that market participants would use in pricing the asset or liability.

F-12

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Foreign Currency Translation

The company's worldwide operations utilize the USD or a related foreign currency as the functional currency, where applicable. The company identifies its separate and distinct foreign entities and groups the foreign entities into two categories: (i) extension of the parent or foreign subsidiaries operating in a highly-inflationary environment (USD functional currency) and (ii) self-contained (related foreign functional currency). If a foreign entity does not align with either category, factors are evaluated and a judgment is made to determine the functional currency.

For foreign entities where the USD is the functional currency, all foreign currency-denominated asset and liability amounts are re-measured into USD at end-of-period exchange rates, except for inventories, prepaid expenses, property, plant and equipment, goodwill and other intangible assets, which are re-measured at historical rates. Foreign currency income and expenses are re-measured at average exchange rates in effect during each month, except for expenses related to balance sheet amounts re-measured at historical exchange rates. Exchange gains and losses arising from re-measurement of foreign currency-denominated monetary assets and liabilities are included in income in the period in which they occur.

For foreign entities where a related foreign currency is the functional currency, assets and liabilities denominated in the related foreign 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 income (loss) in equity. Assets and liabilities denominated in other than the functional currency are re-measured into the functional 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 each month.

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.

Inventories

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. Stores and supplies are valued at cost or net realizable value, whichever is lower; cost is generally determined by the average cost method.

As of both December 31, 2025 and 2024, approximately 60 percent and 40 percent of the company's inventories were accounted for under the first-in, first-out ("FIFO") and average cost methods, respectively. Inventories accounted for under the FIFO method are primarily comprised of products with shorter shelf lives such as seeds. See Note 10 - Inventories, to the Consolidated Financial Statements, for further information.

The company establishes an obsolescence reserve for inventory based upon quality considerations and assumptions about future demand and market conditions.

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. Goodwill is tested for impairment at the reporting unit level at least annually, 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. The company performs an annual goodwill impairment test in the fourth quarter at the reporting unit level, which is defined as the operating segment or one level below the operating segment. One level below the operating segment, or component, is a business in which discrete financial information is available and regularly reviewed by segment management. The company aggregates certain components into reporting units based on economic similarities. The company’s reporting units are Seed and Crop Protection.

When testing goodwill for impairment, the company has the option to first perform qualitative testing to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. If the company chooses not to complete a qualitative assessment for a given reporting unit or if the initial assessment indicates that it is more likely than not that the carrying value of a reporting unit exceeds its estimated fair value, additional quantitative testing is required. If additional quantitative testing is required, the reporting unit's fair value is compared with its carrying amount, and an impairment charge, if any, is recognized for the amount by which the carrying amount exceeds the reporting unit's fair value, limited to the amount of goodwill associated with the reporting unit. The company determines fair values for each of the reporting units using a discounted cash flow model (a form of the income approach). 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. The company's significant assumptions in this analysis include future cash flow projections, weighted average cost of capital, the terminal growth rate, and the tax rate. See Note 12 - Goodwill and Other Intangible Assets, to the Consolidated Financial Statements, for further information on goodwill.

F-13

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Definite-lived intangible assets are amortized over their estimated useful lives, generally on a straight-line basis for periods ranging primarily from 2 years to 25 years. The company continually evaluates the reasonableness of the useful lives of these assets. Once these assets are no longer considered held and used, they are removed from the Consolidated Balance Sheets.

Acquisitions

Acquisitions are recorded using the acquisition method of accounting which recognizes and measures the identifiable assets acquired and liabilities assumed as of the acquisition date at fair value, where applicable. The excess, if any, of total consideration transferred in a business combination over the fair value of identifiable assets acquired and liabilities assumed is recognized as goodwill. Costs incurred as a result of a business combination other than costs related to the issuance of debt or equity securities are recorded in the period the costs are incurred. The company includes the operating results of acquired entities from their respective dates of acquisition.

Leases

The company determines whether an arrangement is a lease at the inception of the arrangement based on the terms and conditions in the contract. A contract contains a lease if there is an identified asset and the company has the right to control the asset. Operating lease right-of-use ("ROU") assets are included in other assets on the company’s Consolidated Balance Sheets. Operating lease liabilities are included in accrued and other current liabilities and other noncurrent obligations on the company’s Consolidated Balance Sheets. Finance lease assets are included in property, plant and equipment on the company’s Consolidated Balance Sheets. Finance lease liabilities are included in short-term borrowings and finance lease obligations and long-term debt on the company’s Consolidated Balance Sheets.

Operating lease ROU assets represent the company’s right to use an underlying asset for the lease term and lease liabilities represent the company’s obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. 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. Leases with an initial term of 12 months or less are not recorded on the Consolidated Balance Sheets. The company recognizes lease expense for these leases on a straight-line basis over the lease term.

The company has lease agreements with lease and non-lease components, which are accounted for as a single lease component for all asset classes. In the Consolidated Statements of Operations, lease expense for operating leases is recognized on a straight-line basis over the lease term. For finance leases, interest expense is recognized on the lease liability and the ROU asset is amortized over the lease term. See Note 13 - Leases, to the Consolidated Financial Statements, for further information.

Impairment of Long-Lived Assets

The company evaluates the carrying value of long-lived assets to be held and used when events or changes in circumstances indicate the carrying value may not be recoverable. The carrying value of a long-lived asset group is considered impaired when the total projected undiscounted cash flows from the assets are separately identifiable and are less than its carrying value. In that event, a loss is recognized based on the amount by which the carrying value exceeds the fair value of the long-lived asset group. The company's fair value methodology is an estimate of fair market value which is made based on prices of similar assets or other valuation methodologies including present value techniques. Long-lived assets to be disposed of by sale, if material, are classified as held for sale and reported at the lower of carrying amount or fair value less cost to sell, and depreciation is ceased. Long-lived assets to be disposed of other than by sale are classified as held and used until they are disposed of and reported at the lower of carrying amount or fair value. Depreciation is recognized over the remaining useful life of the assets.

Derivative Instruments

Derivative instruments are reported in the Consolidated Balance Sheets at their fair values. The company utilizes derivatives to manage exposures to foreign currency exchange rates and commodity prices. Changes in the fair values of derivative instruments that are not designated as hedges are recorded in current period earnings. For derivative instruments designated as cash flow hedges, the gain (loss) is reported in accumulated other comprehensive income (loss) until it is cleared to earnings during the same period in which the hedged item affects earnings. For derivative instruments designated as net investment hedges, the gain (loss) is reported within accumulated other comprehensive income (loss) until the subsidiary is divested.

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

F-14

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

matures, or is sold, extinguished, or terminated prior to the maturity of a derivative designated as a hedge of such transaction, gains or losses associated with the derivative through the date the transaction matured are included in the measurement of the hedged transaction and the derivative is reclassified as for trading purposes. Derivatives designated as hedges of anticipated transactions are reclassified as for trading purposes if the anticipated transaction is no longer probable.

The company included foreign currency exchange contract settlements within cash flows from operating activities, regardless of hedge accounting qualification. See Note 19 - Financial Instruments, to the Consolidated Financial Statements, for additional discussion regarding the company's objectives and strategies for derivative instruments.

Environmental Matters

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. These accruals are adjusted periodically as assessment and remediation efforts progress or as additional technical or legal information becomes available. Accruals for environmental liabilities are included in the Consolidated Balance Sheets in accrued and other current liabilities and other noncurrent obligations at undiscounted amounts. Accruals for related insurance or other third-party recoveries for environmental liabilities are recorded when it is probable that a recovery will be realized and are included in the Consolidated Balance Sheets as accounts and notes receivable - net.

Environmental costs are capitalized if the costs extend the life of the property, increase its capacity, and/or mitigate or prevent contamination from future operations. Environmental costs are also capitalized in recognition of legal asset retirement obligations resulting from the acquisition, construction and/or normal operation of a long-lived asset. Costs related to environmental contamination treatment and cleanup are charged to expense. Estimated future incremental operations, maintenance and management costs directly related to remediation are accrued when such costs are probable and reasonably estimable.

Revenue Recognition

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 the revenue recognition for an arrangement considered to be a contract with a customer, 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. See Note 4 - Revenue, to the Consolidated Financial Statements, for additional information on revenue recognition.

Cost of Goods Sold

Cost of goods sold primarily includes the cost of manufacture and delivery, ingredients or raw materials, direct salaries, wages and benefits and overhead, non-capitalizable costs associated with capital projects, royalties and other operational expenses. No amortization of intangibles is included within cost of goods sold.

Research and Development

Research and development costs are expensed as incurred. Research and development expense includes costs (primarily consisting of employee costs, materials, contract services, research agreements, and other external spend) relating to the discovery and development of new products.

Selling, General and Administrative Expenses

Selling, general and administrative expenses primarily include selling and marketing expenses, commissions, functional costs, and business management expenses.

Litigation and Other Contingencies

Accruals for legal matters and other contingencies are recorded when it is probable that a liability has been incurred and the amount of the liability can be reasonably estimated. Legal costs, such as outside counsel fees and expenses, are charged to expense in the period incurred.

Severance Costs

Severance benefits are provided to employees under the company's ongoing benefit arrangements. Severance costs are accrued when management commits to a plan of termination and it becomes probable that employees will be entitled to benefits at amounts that can be reasonably estimated.

F-15

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Insurance/Self-Insurance

The company self-insures certain risks where permitted by law or regulation, including workers' compensation, vehicle liability and employee related benefits. Liabilities associated with these risks are estimated in part by considering historical claims experience, demographic factors and other actuarial assumptions. For other risks, the company uses a combination of insurance and self-insurance, reflecting comprehensive reviews of relevant risks. A receivable for an insurance recovery is generally recognized when the loss has occurred and collection is considered probable.

Income Taxes

The company accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences of temporary differences between the carrying amounts and tax bases of assets and liabilities using enacted tax rates. The effect of a change in tax rates on deferred tax assets or liabilities is recognized in income in the period that includes the enactment date.

The company recognizes the financial statement effects of an uncertain income tax position when it is more likely than not, based on the technical merits, that the position will be sustained upon examination. The current portion of uncertain income tax positions is included in income taxes payable or accounts and notes receivable - net, and the long-term portion is included in other noncurrent obligations or other assets in the Consolidated Balance Sheets.

Income tax related penalties are included in the provision for (benefit from) income taxes in the Consolidated Statements of Operations. Interest accrued related to unrecognized tax benefits is included within the provision for (benefit from) income taxes from continuing operations in the Consolidated Statements of Operations.

Earnings per Common Share

The calculation of earnings per common share is based on the weighted-average number of the company’s common shares outstanding for the applicable period. The calculation of diluted earnings per common share reflects the effect of all potential common shares that were outstanding during the respective periods, unless the effect of doing so is antidilutive.

NOTE 3 - RECENT ACCOUNTING GUIDANCE

Recently Adopted Accounting Guidance

In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update ("ASU") 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. The ASU requires that an entity disclose specific categories in the effective tax rate reconciliation as well as reconciling items that meet a quantitative threshold. Further, the ASU requires additional disclosures on income tax expense and taxes paid, net of refunds received, by jurisdiction. The new standard is effective for annual periods beginning after December 15, 2024 on a prospective basis with the option to apply it retrospectively. Early adoption is permitted. The company adopted this guidance on a prospective basis and has included enhanced income tax related disclosures in Note 7 - Income Taxes, to the Consolidated Financial Statements.

In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. This ASU includes amendments that expand the existing reportable segment disclosure requirements and requires disclosure of (i) significant expense categories and amounts by reportable segment as well as the segment’s profit or loss measure(s) that are regularly provided to the chief operating decision maker (the “CODM”) to allocate resources and assess performance; (ii) how the CODM uses each reported segment profit or loss measure to allocate resources and assess performance; (iii) the nature of other segment balances contributing to reported segment profit or loss that are not captured within segment revenues or expenses; and (iv) the title and position of the individual or name of the group or committee identified as the CODM. This guidance requires retrospective application to all prior periods presented in the financial statements and is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The company adopted this guidance and has included enhanced disclosures relating to its reportable segments. See Note 22 - Segment Information, to the Consolidated Financial Statements, for the company's updated disclosure.

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

In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. This ASU includes amendments that require entities to bifurcate specified expense line items on the income statement into underlying components, including purchases of inventory, employee compensation, depreciation, intangible asset amortization and depletion, as applicable. Qualitative descriptions of the remaining components are required. These enhanced disclosures are required for both interim and annual periods. Selling expenses must also be separately disclosed for both interim and annual periods, along with an annual qualitative description of the composition of selling expenses. In January 2025, the FASB subsequently issued ASU

F-16

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

2025-01, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date, to provide clarification on the ASU's effective date. The new standard is effective for fiscal years beginning after December 15, 2026 on a prospective basis with the option to apply it retrospectively, and for interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The adoption of this guidance will result in the company being required to include enhanced disclosures around income statement expenses.

NOTE 4 - REVENUE

Revenue Recognition

Products

Substantially all of Corteva's revenue is derived from product sales, which consist of sales of Corteva's products to farmers, distributors, and manufacturers. Corteva considers purchase orders, which in some cases are governed by master supply agreements, to be a contract with a customer. Contracts with customers are considered to be short-term when the time between order confirmation and satisfaction of the performance obligations is equal to or less than one year. However, the company has some long-term contracts which can span multiple years.

Revenue from product sales is recognized when the customer obtains control of the company's product, which occurs at a point in time according to shipping terms. Payment terms are generally less than one year from invoicing. The company elected the practical expedient and does not adjust the promised amount of consideration for the effects of a significant financing component when the company expects it will be one year or less between when a customer obtains control of the company's product and when payment is due. When the company performs shipping and handling activities after the transfer of control to the customer (e.g., when control transfers prior to or at shipment), these are considered fulfillment activities, and accordingly, the costs are accrued when the related revenue is recognized. Taxes collected from customers relating to product sales and remitted to governmental authorities are excluded from revenues. In addition, the company elected the practical expedient to expense any costs to obtain contracts as incurred, as the amortization period for these costs would have been one year or less.

The transaction price includes estimates of variable consideration, such as rights of return, rebates, and discounts, that are reductions in revenue. All estimates are based on the company's historical experience, anticipated performance, and the company's best judgment at the time the estimate is made. Estimates of variable consideration included in the transaction price primarily utilize the expected value method based on historical experience. These estimates are reassessed each reporting period and are included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur upon resolution of uncertainty associated with the variable consideration. The majority of contracts have a single performance obligation satisfied at a point in time and the transaction price is stated in the contract, usually as quantity times price per unit. For contracts with multiple performance obligations, the company allocates the transaction price to each performance obligation based on the relative standalone selling price. The standalone selling price is the observable price which depicts the price as if sold to a similar customer in similar circumstances.

Licenses of Intellectual Property

Corteva enters into licensing arrangements with customers to license its intellectual property. Revenue from the majority of intellectual property licenses is derived from sales-based royalties. Revenue for licensing agreements that contain sales-based royalties is recognized at the later of (i) when the subsequent sale occurs or (ii) when the performance obligation to which some or all of the royalty has been allocated is satisfied.

Remaining Performance Obligations

Remaining performance obligations represent the transaction price allocated to unsatisfied or partially unsatisfied performance obligations. The company applies the practical expedient to disclose the transaction price allocated to the remaining performance obligations for only those contracts with an original duration of more than one year. The transaction price allocated to remaining performance obligations with an original duration of more than one year related to material rights granted to customers for contract renewal options were $150 million and $139 million at December 31, 2025 and December 31, 2024, respectively. The company expects revenue to be recognized for the remaining performance obligations evenly over a period of six years.

Contract Balances

Contract liabilities primarily reflect deferred revenue from prepayments under contracts with customers where the company receives advance payments for products to be delivered in future periods. Corteva classifies deferred revenue as current or noncurrent based on the timing of when the company expects to recognize revenue. Contract assets primarily include amounts related to conditional rights to consideration for completed performance not yet invoiced. Accounts receivable are recorded when the right to consideration becomes unconditional.

F-17

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Contract Balances			December 31, 2025			December 31, 2024
(In millions)
Accounts and notes receivable - trade 1			$	5,034		$	4,615
Contract assets - current 2			34			30
Contract assets - noncurrent 3			83			74
Deferred revenue - current			3,579			3,287
Deferred revenue - noncurrent 4			125			114

1.Included in accounts and notes receivable - net in the Consolidated Balance Sheets.

2.Included in other current assets in the Consolidated Balance Sheets.

3.Included in other assets in the Consolidated Balance Sheets.

4.Included in other noncurrent obligations in the Consolidated Balance Sheets.

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

Disaggregation of Revenue

Corteva's operations are classified into two operating segments: Seed and Crop Protection. The company disaggregates its revenue by major product line and geographic region, as the company believes it best depicts the nature, amount and timing of its revenue and cash flows. Net sales by major product line are included below:

			For the Year Ended December 31,
(In millions)			2025			2024			2023
Corn			$	7,002		$	6,496		$	6,447
Soybean			1,878			1,927			1,858
Other oilseeds			644			653			708
Other			374			469			459
Seed			9,898			9,545			9,472
Herbicides			3,730			3,599			4,034
Insecticides			1,669			1,715			1,598
Fungicides			1,140			1,081			1,112
Biologicals			519			476			491
Other			445			492			519
Crop Protection			7,503			7,363			7,754
Total			$	17,401		$	16,908		$	17,226

F-18

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Sales are attributed to geographic regions based on customer location. Net sales by geographic region and segment are included below:

Seed			For the Year Ended December 31,
(In millions)			2025			2024			2023
North America 1			$	6,271		$	6,033		$	5,768
EMEA 2			1,560			1,581			1,622
Latin America			1,614			1,523			1,637
Asia Pacific			453			408			445
Total			$	9,898		$	9,545		$	9,472

Crop Protection			For the Year Ended December 31,
(In millions)			2025			2024			2023
North America 1			$	2,753		$	2,627		$	2,822
EMEA 2			1,550			1,543			1,745
Latin America			2,314			2,253			2,269
Asia Pacific			886			940			918
Total			$	7,503		$	7,363		$	7,754

1.Represents U.S. & Canada.

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

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

NOTE 5 - RESTRUCTURING AND ASSET RELATED CHARGES - NET

Crop Protection Operations Strategy Restructuring Program

On November 5, 2023, management of the company approved a plan to further optimize its Crop Protection network of manufacturing and external partners (the "Crop Protection Operations Strategy Restructuring Program"). The plan includes the exit of the company’s production activities at its site in Pittsburg, California, as well as ceasing operations in select manufacturing lines at other locations. In October 2024, management of the company amended the Crop Protection Operations Strategy Restructuring Program to include updates to its previous estimates and decommissioning and demolition costs associated with the ceasing of operations, primarily at the Pittsburg, California site.

The company expects to record aggregate pre-tax restructuring and asset related charges of $650 million to $700 million, comprised of $85 million to $105 million of severance and related benefit costs, $320 million to $340 million of asset-related and impairment charges, and $245 million to $255 million of costs related to exiting the company's production activities and ceasing operations (inclusive of decommissioning and demolition costs and contract terminations). Decommissioning and demolition costs are expensed on an as-incurred basis. Reductions in workforce are subject to local regulatory requirements. Through the year ended December 31, 2025, the company recorded net pre-tax restructuring and asset related charges of $611 million inception-to-date under the Crop Protection Operations Strategy Restructuring Program, consisting of $102 million of severance and related benefit costs, $340 million of asset-related and impairment charges, $70 million of decommissioning and demolition costs and $99 million of costs related to contract terminations. The pre-tax restructuring and asset related charges noted above include charges relating to spare parts write-offs recognized during the fourth quarter of 2023, which impacted the Crop Protection segment, and were included in cost of goods sold, in the company's Consolidated Statements of Operations for the year ended December 31, 2023. See Note 22 - Segment Information, to the Consolidated Financial Statements, for additional information.

Cash payments related to these charges are anticipated to be $330 million to $360 million, which primarily relate to the payment of severance and related benefits, decommissioning and demolition costs and contract terminations. Through December 31, 2025, the company paid $177 million associated with these charges. The restructuring actions associated with these charges are expected to be substantially complete by the end of 2026.

F-19

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

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

			For the Year Ended December 31,
(In millions)			2025			2024			2023
Severance and related benefit costs 1			$	11		$	91		$	—
Asset related charges 2,3			13			101			214
Decommissioning and demolition costs 2			60			10			—
Contract termination charges 2			66			30			3
Total restructuring and asset related charges - net 4			$	150		$	232		$	217

1.Reflects corporate related charges.

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

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

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

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

(In millions)			Severance and Related Benefit Costs			Asset Related Charges**1			Decommissioning and Demolition Costs			Contract Termination Charges			Total
Balance at December 31, 2023			$	—		$	—		$	—		$	—		$	—
Charges to income from continuing operations			91			101			10			30			232
Payments			(21)			—			(10)			(30)			(61)
Asset write-offs			—			(101)			—			—			(101)
Balance at December 31, 2024			$	70		$	—		$	—		$	—		$	70
Charges to income from continuing operations			11			13			60			66			150
Payments			(49)			—			(52)			(12)			(113)
Asset write-offs			—			(13)			—			—			(13)
Balance at December 31, 2025			$	32		$	—		$	8		$	54		$	94

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

Other Asset Related Charges

The company holds a non-exclusive license in the United States and Canada for the Monsanto Company's Genuity® Roundup Ready 2 Yield® glyphosate tolerance trait and Roundup Ready 2 Xtend® glyphosate and dicamba tolerance trait for soybeans, which was obtained by the company’s wholly owned subsidiary, Pioneer Hi-Bred International, Inc. (“Pioneer”) (“Roundup Ready 2 License Agreement”). Each of these licensed technologies are now trademarks of the Bayer Group, which acquired the Monsanto Company in 2018. The prepaid royalty asset relates to a series of up-front, fixed and variable royalty payments to utilize the traits in Pioneer’s soybean product mix. The company’s historical expectation was that the technology licensed under the Roundup Ready 2 License Agreement would be used as the primary herbicide tolerance trait platform in the Pioneer® brand soybean through the term of the agreement. Dow Agrosciences LLC and MS Technologies, L.L.C. jointly developed and own the Enlist E3TM herbicide tolerance trait for soybeans which provides tolerance to 2,4-D choline in Enlist Duo® and Enlist One® herbicides, as well as glyphosate and glufosinate herbicides. In connection with the validation of breeding plans and large-scale product development timelines, during 2019 the company committed to accelerate the ramp up of the Enlist E3TM trait platform in the company’s soybean portfolio mix across all brands, including Pioneer® brands. Due to the five-year ramp-up of Enlist E3TM, the company significantly reduced the volume of products with the Roundup Ready 2 Yield® and Roundup Ready 2 Xtend® herbicide tolerance traits, with expected minimal use of the trait platform thereafter for the remainder of the Roundup Ready 2 License Agreement (the “Transition Plan”). The rate of royalty expense had therefore increased significantly through higher amortization of the prepaid royalty as fewer seeds containing the respective trait were expected to be utilized.

In connection with the departure from these traits, beginning January 1, 2020 the company presents and discloses the non-cash accelerated prepaid royalty amortization expense as a component of restructuring and asset related charges - net, in the Consolidated Statements of Operations. For the years ended December 31, 2025, 2024 and 2023, the company recognized $— million, $55 million and $72 million, respectively, in restructuring and asset related charges - net in the Consolidated

F-20

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

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

NOTE 6 - SUPPLEMENTARY INFORMATION

Other Income (Expense) - Net			For the Year Ended December 31,
(In millions)			2025			2024			2023
Interest income			$	136		$	132		$	283
Equity in earnings (losses) of affiliates - net			13			15			10
Net gain (loss) on sales of businesses and other assets			41			17			22
Net exchange gains (losses) 1			(181)			(284)			(397)
Non-operating pension and other post-employment benefit credits (costs) 2			(23)			(144)			(119)
Miscellaneous income (expenses) - net 3			(556)			(36)			(247)
Other income (expense) - net			$	(570)		$	(300)		$	(448)

1. Includes net pre-tax exchange gains (losses) of $(34) million, $(66) million and $(284) million, associated with impacts from the devaluation of the Argentine peso for the years ended December 31, 2025, 2024 and 2023, respectively.

2. Includes non-service related components of net periodic benefit credits (costs) (interest cost, expected return on plan assets, amortization of unrecognized gain (loss), amortization of prior service benefit and settlement gain (loss)).

3. Includes losses from sale of receivables, tax indemnification adjustments related to changes in indemnification balances as a result of the application of the terms of the Tax Matters Agreement between Corteva and Dow and/or DuPont, and other items. The year ended December 31, 2025 includes a charge related to the Bayer resolution offset by the receipt of insurance proceeds. The year ended December 31, 2024 includes the receipt of insurance proceeds and an indemnification payment negotiated with the prior Stoller owners. The years ended December 31, 2024 and 2023 also include estimated settlement reserves. The year ended December 31, 2023 also includes an Employee Retention Credit pursuant to the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act as enhanced by the Consolidated Appropriations Act (“CAA”) and American Rescue Plan Act (“ARPA”). See Note 22 - Segment Information, to the Consolidated Financial Statements, for additional information on significant items.

The following table summarizes the impacts of the company's foreign currency hedging program on the company's results of operations. The company routinely uses foreign currency exchange contracts to offset its net exposures, by currency, related to the foreign currency-denominated monetary assets and liabilities. The objective of this program is to maintain an approximately balanced position in foreign currencies in order to minimize, on an after-tax basis, the effects of exchange rate changes on net monetary asset positions. The hedging program gains (losses) are largely taxable (tax deductible) in the United States, whereas the offsetting exchange gains (losses) on the remeasurement of the net monetary asset positions are often not taxable (tax deductible) in their local jurisdictions. The net pre-tax exchange gains (losses) are recorded in other income (expense) - net and the related tax impact is recorded in provision for (benefit from) income taxes on continuing operations in the Consolidated Statements of Operations.

F-21

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

			For the Year Ended December 31,
(In millions)			2025			2024			2023
Subsidiary Monetary Position Gain (Loss)
Pre-tax exchange gain (loss)			$	(254)		$	(152)		$	(371)
Local tax (expenses) benefits			11			11			55
Net after-tax impact from subsidiary exchange gain (loss)			$	(243)		$	(141)		$	(316)
Hedging Program Gain (Loss)
Pre-tax exchange gain (loss)			$	73		$	(132)		$	(26)
Tax (expenses) benefits			(8)			26			7
Net after-tax impact from hedging program exchange gain (loss)			$	65		$	(106)		$	(19)
Total Exchange Gain (Loss)
Pre-tax exchange gain (loss)			$	(181)		$	(284)		$	(397)
Tax (expenses) benefits			3			37			62
Net after-tax exchange gain (loss)			$	(178)		$	(247)		$	(335)
Noncontrolling interest adjustment			—			1			—
Net after-tax exchange gain (loss) attributable to Corteva			$	(178)		$	(246)		$	(335)

Cash, Cash Equivalents and Restricted Cash Equivalents

The following table provides a reconciliation of cash and cash equivalents and restricted cash equivalents presented in the Consolidated Balance Sheets to the total cash, cash equivalents and restricted cash equivalents presented in the Consolidated Statements of Cash Flows. Corteva classifies restricted cash equivalents as current or noncurrent based on the nature of the restrictions, which are included in other current assets and other assets, respectively, in the Consolidated Balance Sheets.

(In millions)			December 31, 2025			December 31, 2024
Cash and cash equivalents			$	4,521		$	3,106
Restricted cash equivalents			204			316
Total cash, cash equivalents and restricted cash equivalents			$	4,725		$	3,422

Restricted cash equivalents primarily relates to a trust funded by EIDP for cash obligations under certain non-qualified benefit and deferred compensation plans due to the Merger, which was a change in control event, and contributions to escrow accounts established for the settlement of certain legal matters and the settlement of legacy PFAS matters and the associated qualified spend. During the second quarter of 2024, the company's previously-restricted cash in the Water District Settlement Fund, which was established by Corteva, EIDP, Inc., DuPont and Chemours in September 2023 under the Nationwide Water District Settlement, was released. All of the company's restricted cash equivalents are classified as current as of December 31, 2025 and 2024, except for the $15 million MOU Escrow Account balance at December 31, 2024.

Accounts Payable

Accounts payable was $4,398 million and $4,039 million at December 31, 2025 and 2024, respectively. Accounts payable - trade, which is a component of accounts payable, was $2,871 million and $2,632 million at December 31, 2025 and 2024, respectively. Included in accounts payable – trade was seed grower compensation of approximately $420 million and $410 million at December 31, 2025 and 2024, respectively, which is measured at fair value using Level 2 inputs. Accrued discounts and rebates, which is a component of accounts payable, was $1,328 million and $1,207 million at December 31, 2025 and 2024, respectively. No other components of accounts payable were more than five percent of total current liabilities.

F-22

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

NOTE 7 - INCOME TAXES

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

Geographic Allocation of Income (Loss) and Provision for (Benefit from) Income Taxes			For the Year Ended December 31,
(In millions)			2025			2024			2023
Income (loss) from continuing operations before income taxes
Domestic			$	325		$	324		$	(414)
Foreign			1,363			951			1,507
Income (loss) from continuing operations before income taxes			$	1,688		$	1,275		$	1,093
Current tax expense (benefit)
Federal			$	87		$	285		$	143
State and local			26			45			40
Foreign			412			447			407
Total current tax expense (benefit)			$	525		$	777		$	590
Deferred tax expense (benefit)
Federal			$	(139)		$	(300)		$	(326)
State and local			(24)			(28)			(50)
Foreign			122			(37)			(62)
Total deferred tax expense (benefit)			$	(41)		$	(365)		$	(438)
Provision for (benefit from) income taxes on continuing operations			484			412			152
Net income (loss) from continuing operations after taxes			$	1,204		$	863		$	941

F-23

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

The table below provides the updated disclosure requirements of ASU 2023-09, which was adopted on a prospective basis for the year ended December 31, 2025. See Note 3 - Recent Accounting Guidance, to the Consolidated Financial Statements, for a description of the relevant disclosure requirements.

The effective income tax rate applicable to income (loss) from continuing operations before income taxes was different from the statutory U.S. federal income tax rate due to the factors listed in the following table:

Reconciliation to U.S. Statutory Rate			For the Year Ended December 31,
			2025
($ In millions)			$			%
U.S. Federal statutory tax rate			$	354		21.0		%
State and local income tax, net of federal (national) income tax effect 1			5			0.3		%
Foreign tax effects
Argentina
Statutory tax rate differential			(17)			(1.0)		%
Withholding tax			18			1.1		%
Exchange gains/losses			(31)			(1.8)		%
Changes in valuation allowances			73			4.3		%
Other			(3)			(0.2)		%
Brazil
Withholding tax			37			2.2		%
Changes in valuation allowances 2			153			9.1		%
Other			(4)			(0.2)		%
India
Statutory tax rate differential			17			1.0		%
Agriculture exemption			(41)			(2.4)		%
Withholding tax			31			1.8		%
Other			1			0.1		%
Switzerland
Statutory tax rate differential			(91)			(5.4)		%
Cantonal income tax, net			59			3.5		%
Other			(1)			(0.1)		%
Other foreign jurisdictions			49			2.9		%
Effect of cross-border tax laws (net of related foreign tax credits)
Global Intangible Low-Taxed Income (GILTI)			24			1.4		%
Other			12			0.7		%
Tax credits
U.S. research and development credit			(47)			(2.8)		%
Other foreign tax credits			(52)			(3.1)		%
Changes in valuation allowances 3			74			4.4		%
Nontaxable or nondeductible items			31			1.8		%
Changes in unrecognized tax benefits			(19)			(1.1)		%
Other
Capital loss 3			(77)			(4.6)		%
Legal entity tax characterization 4			(49)			(2.9)		%
Other			(22)			(1.3)		%
Effective tax rate			$	484		28.7		%

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

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

3.For the year ended December 31, 2025, a U.S. federal tax benefit of $(27) million, net of valuation allowance, was recorded to recognize a capital loss in a wholly owned foreign investment.

4.For the year ended December 31, 2025, a U.S. federal deferred tax benefit was recorded associated with a change in a legal entity's U.S. tax characterization in the amount of $(49) million.

F-24

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

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

Reconciliation to U.S. Statutory Rate						For the Year Ended December 31,
						2024			2023
Statutory U.S. federal income tax rate						21.0		%	21.0		%
Effective tax rates on international operations - net 1						4.8			(1.8)
Acquisitions, divestitures and ownership restructuring activities 2						(1.1)			3.6
U.S. research and development credit						(4.7)			(5.9)
Exchange gains/losses 3						1.7			2.0
State and local incomes taxes - net						1.3			0.9
Impact of Swiss Tax Changes 4						—			(7.9)
Excess tax benefits/deficiencies from stock compensation						(0.2)			(0.5)
Tax settlements and expiration of statute of limitations						(1.7)			(0.3)
Impact of Brazil valuation allowance 6						9.4			—
Repatriation of foreign earnings 5						1.7			2.9
Other – net						0.1			(0.1)
Effective tax rate on income from continuing operations						32.3		%	13.9		%

1. Includes the effects of local and U.S. taxes related to earnings of non-U.S. subsidiaries, changes in the amount of unrecognized tax benefits associated with these earnings, losses at non-U.S. subsidiaries without local tax benefits due to valuation allowances, and other permanent differences between tax and U.S. GAAP results.

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

3. Principally reflects the impact of foreign exchange gains and losses on net monetary assets for which no corresponding tax impact is realized. Further information about the company's foreign currency hedging program is included in Note 6 - Supplementary Information, and Note 19 - Financial Instruments, to the Consolidated Financial Statements, under the heading "Foreign Currency Risk."

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

5. Includes the effect of withholding tax on distribution of foreign earnings to the U.S., net of U.S. foreign tax credits.

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

a legal entity in Brazil (Seed business).

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

Income Taxes Paid, Net			For the Year Ended December 31,
(In millions)			2025
US Federal			$	195
US State and Local			49
Brazil			72
India			42
Switzerland, Federal			59
Switzerland, Geneva			46
Other Foreign			287
Total			$	750

F-25

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

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

Deferred Tax Balances			December 31, 2025						December 31, 2024
(In millions)			Assets			Liabilities			Assets			Liabilities
Property			$	—		$	347		$	—		$	278
Operating loss and tax credit carryforwards 1			631			—			552			—
Accrued employee benefits			678			—			671			—
Other accruals and reserves			767			—			590			—
Intangibles			—			1,828			—			1,950
Inventory			275			—			184			—
Research and development capitalization			689			—			761			—
Investments			53			—			69			—
Unrealized exchange gains/losses			—			4			—			50
Other – net			42			—			40			—
Subtotal			$	3,135		$	2,179		$	2,867		$	2,278
Valuation allowances 2			(887)			—			(666)			—
Total			$	2,248		$	2,179		$	2,201		$	2,278
Net deferred tax asset (liability)			$	69					$	(77)

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

2. During the year ended December 31, 2025, the company established a valuation allowance recorded against the net deferred tax asset position of a legal entity in Brazil (Crop Protection business) in the amount of $132 million. During the year ended December 31, 2024, the company established a valuation allowance against the net deferred tax asset position of a legal entity in Brazil (Seed business) in the amount of $120 million.

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

Operating Loss and Tax Credit Carryforwards			Deferred Tax Asset
(In millions)			December 31, 2025			December 31, 2024
Operating loss carryforwards
Expire within 5 years			$	290		$	222
Expire after 5 years or indefinite expiration			213			226
Total operating loss carryforwards			$	503		$	448
Tax credit carryforwards
Expire within 5 years			$	25		$	13
Expire after 5 years or indefinite expiration			103			91
Total tax credit carryforwards			$	128		$	104
Total operating loss and tax credit carryforwards			$	631		$	552

F-26

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

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

Total Gross Unrecognized Tax Benefits			For the Year Ended December 31,
(In millions)			2025			2024			2023
Total unrecognized tax benefits as of beginning of period			$	263		$	390		$	357
Decreases related to positions taken on items from prior years			(1)			(4)			—
Increases related to positions taken on items from prior years			94			13			23
Increases related to positions taken in the current year			9			12			16
Settlement of uncertain tax positions with tax authorities			(24)			(140)			(4)
Decreases due to expiration of statutes of limitations			(5)			(5)			(2)
Exchange (gain) loss			(1)			(3)			—
Total unrecognized tax benefits as of end of period			$	335		$	263		$	390
Total unrecognized tax benefits that, if recognized, would impact the effective tax rate			$	243		$	176		$	173
Total amount of interest and penalties (benefits) recognized in provision for (benefit from) income taxes on continuing operations			$	(9)		$	(4)		$	1
Total accrual (receivable) for interest and penalties associated with unrecognized tax benefits at end of period			$	(15)		$	(2)		$	11

Each year the company files hundreds of tax returns in the various national, state and local income taxing jurisdictions in which it operates. These tax returns are subject to examination and possible challenge by the tax authorities. Positions challenged by the tax authorities may be settled or appealed by the company. As a result, there is an uncertainty in income taxes recognized in the company's financial statements in accordance with accounting for income taxes and accounting for uncertainty in income taxes. As of December 31, 2025 and 2024, the company has an advance deposit balance of $95 million and $100 million, respectively, to a foreign taxing authority, partially as a prerequisite to petition the court related to an open tax examination. These payments are accounted for as a prepaid asset, included in other assets in the Consolidated Balance Sheets.

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

Tax Years Subject to Examination by Major Tax Jurisdiction at December 31, 2025			Earliest Open Year
Jurisdiction
Argentina			2018
Brazil			2018
Canada			2017
China			2015
France			2023
India			2023
Italy			2019
Spain			2020
Switzerland			2020
United States:
Federal income tax			2012
State and local income tax			2012

Undistributed earnings of foreign subsidiaries and related companies that are deemed to be indefinitely invested amounted to $4,158 million at December 31, 2025. Distributions of profits from non-U.S. subsidiaries are subject to certain taxes upon repatriation, primarily where foreign withholding taxes apply; these taxes are partially offset by U.S. foreign tax credits. The company is asserting indefinite reinvestment related to certain investments in foreign subsidiaries. Determination of the amount of unrecognized deferred tax liability related to indefinitely reinvested profits is not feasible primarily due to our legal entity structure and the complexity of U.S. and local tax laws.

For periods between the Merger on August 31, 2017, and the Corteva Distribution, Corteva and its subsidiaries were included in DowDuPont's consolidated federal income tax group and consolidated tax return. Generally, the consolidated tax liability of the DowDuPont U.S. tax group for each year was apportioned among the members of the consolidated group based on each member’s separate taxable income. Corteva, DuPont and Dow intend that to the extent federal and/or state corporate income tax

F-27

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

liabilities are reduced through the utilization of tax attributes of the other, settlement of any receivable and payable generated from the use of the other party’s sub-group attributes will be in accordance with a tax sharing agreement and/or Tax Matters Agreement. See Note 15 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements for further information related to indemnifications between Corteva, DuPont and Dow.

On July 4, 2025, the One Big Beautiful Bill Act ("OBBBA") was signed into law, enacting changes in a wide array of policy areas, including federal tax law. The impacts of OBBBA are included in the financial statements for the year ended December 31, 2025, including the reinstatement of expensing of domestic research and development expenditures.

On August 16, 2022, the U.S. federal government enacted the Inflation Reduction Act of 2022 (“the Act”). The Act includes tax provisions, among other things, which implement (i) a 15 percent minimum tax on book income of certain large corporations and (ii) a one percent excise tax on net stock repurchases. The Act did not have a material impact on the company’s financial position, results of operations or cash flows.

In December 2021, the Organization for Economic Cooperation and Development ("OECD") released the Pillar Two Model rules (also referred to as the global minimum tax or Global Anti-Base Erosion "GloBE" rules), which were designed to ensure multinational enterprises pay a certain level of tax within every jurisdiction in which they operate. Several jurisdictions in which we operate have enacted these rules. For the year ended December 31, 2025, there is no material tax charge associated with these rules. The company will continue to monitor and evaluate legislative developments.

NOTE 8 - EARNINGS PER SHARE OF COMMON STOCK

The following tables provide earnings per share calculations for the periods indicated below:

Net Income (Loss) for Earnings Per Share Calculations - Basic and Diluted			For the Year Ended December 31,
(In millions)			2025			2024			2023
Income (loss) from continuing operations after income taxes			$	1,204		$	863		$	941
Net income (loss) attributable to continuing operations noncontrolling interests			11			12			12
Income (loss) from continuing operations available to Corteva common stockholders			$	1,193		$	851		$	929
Income (loss) from discontinued operations available to Corteva common stockholders			(99)			56			(194)
Net income (loss) available to common stockholders			$	1,094		$	907		$	735

Earnings (Loss) Per Share Calculations - Basic			For the Year Ended December 31,
(Dollars per share)			2025			2024			2023
Earnings (loss) per share of common stock from continuing operations			$	1.75		$	1.23		$	1.31
Earnings (loss) per share of common stock from discontinued operations			(0.15)			0.08			(0.27)
Earnings (loss) per share of common stock			$	1.60		$	1.31		$	1.04

Earnings (Loss) Per Share Calculations - Diluted			For the Year Ended December 31,
(Dollars per share)			2025			2024			2023
Earnings (loss) per share of common stock from continuing operations			$	1.75		$	1.22		$	1.30
Earnings (loss) per share of common stock from discontinued operations			(0.15)			0.08			(0.27)
Earnings (loss) per share of common stock			$	1.60		$	1.30		$	1.03

Share Count Information			For the Year Ended December 31,
(Shares in millions)			2025			2024			2023
Weighted-average common shares - basic			680.0			693.7			709.0
Plus dilutive effect of equity compensation plans 1			1.4			2.3			2.9
Weighted-average common shares - diluted			681.4			696.0			711.9
Potential shares of common stock excluded from EPS calculations 2			2.3			3.1			2.3

1.Diluted earnings (loss) per share considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential common shares would have an anti-dilutive effect.

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

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Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

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

NOTE 9 - ACCOUNTS AND NOTES RECEIVABLE - NET

(In millions)			December 31, 2025			December 31, 2024
Accounts receivable – trade 1			$	4,881		$	4,448
Notes receivable – trade 1,2			153			167
Other 3			1,337			1,061
Total accounts and notes receivable - net			$	6,371		$	5,676

1.Accounts and notes receivable – trade are net of allowances of $241 million and $179 million at December 31, 2025 and 2024, respectively.

2.Notes receivable – trade primarily consists of receivables for deferred payment loan programs for the sale of seed and crop protection products to customers. These loans have terms of one year or less and are primarily concentrated in North America. The company maintains a rigid pre-approval process for extending credit to customers in order to manage overall risk and exposure associated with credit losses. As of December 31, 2025 and 2024, there were no significant impairments related to current loan agreements.

3.Other includes receivables in relation to indemnification assets, royalties, value added tax, general sales tax and other taxes. No individual group represents more than 5 percent of total current assets. In addition, Other includes amounts due from nonconsolidated affiliates of $117 million and $144 million as of December 31, 2025 and 2024, respectively.

Accounts and notes receivable are carried at the expected amount to be collected, which approximates fair value. The company establishes the allowance for doubtful receivables using a loss-rate method where the loss rate is developed using past events, historical experience, current conditions and forecasts that affect the collectability of the financial assets.

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

(In millions)
Balance at December 31, 2023			$	205
Net provision for credit losses			39
Other - net of write-offs charged against allowance			(65)
Balance at December 31, 2024			$	179
Net provision for credit losses			104
Other - net of write-offs charged against allowance			(42)
Balance at December 31, 2025			$	241

The company enters into various factoring agreements with third-party financial institutions to sell its trade receivables under both recourse and non-recourse agreements in exchange for cash proceeds. These financing arrangements result in a transfer of the company's receivables and risks to the third-party. As these transfers qualify as true sales under the applicable accounting guidance, the receivables are derecognized from the Consolidated Balance Sheets upon transfer, and the company receives a payment for the receivables from the third-party within a mutually agreed upon time period. For arrangements involving an element of recourse, which is typically provided through a guarantee of accounts in the event of customer default, the guarantee obligation is measured using market data from similar transactions and reported as a current liability in the Consolidated Balance Sheets.

Trade receivables sold under these agreements were $166 million, $131 million, and $112 million for the years ended December 31, 2025, 2024 and 2023, respectively. The trade receivables sold that remained outstanding under these agreements which include an element of recourse as of December 31, 2025 and 2024 were $17 million and $15 million, respectively. The net proceeds received were included in cash provided by (used for) operating activities, in the Consolidated Statements of Cash Flows. The difference between the carrying amount of the trade receivables sold and the sum of the cash received is recorded as a loss on sale of receivables in other income (expense) - net in the Consolidated Statements of Operations. The loss on sale of receivables were $5 million, $9 million and $17 million for the years ended December 31, 2025, 2024 and 2023, respectively. See Note 15 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements, for additional information on the company’s guarantees.

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Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

NOTE 10 - INVENTORIES

(In millions)			December 31, 2025			December 31, 2024
Finished products			$	2,956		$	2,649
Semi-finished products			2,276			2,297
Raw materials and supplies			435			486
Total inventories			$	5,667		$	5,432

NOTE 11 - PROPERTY, PLANT AND EQUIPMENT

(In millions)			December 31, 2025			December 31, 2024
Land and land improvements			$	449		$	425
Buildings			1,867			1,715
Machinery and equipment			6,849			6,472
Construction in progress			386			462
Total property, plant and equipment			$	9,551		$	9,074
Accumulated depreciation			(5,331)			(4,975)
Total property, plant and equipment - net			$	4,220		$	4,099

Buildings, machinery and equipment and land improvements are depreciated over useful lives on a straight-line basis ranging from 2 to 25 years. Capitalizable costs associated with computer software for internal use are amortized on a straight-line basis over 2 to 7 years.

			For the Year Ended December 31,
(In millions)			2025			2024			2023
Depreciation expense			$	559		$	542		$	528

NOTE 12 - GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill

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

(In millions)						Seed			Crop Protection			Total
Balance at December 31, 2023						$	5,422		$	5,183		$	10,605
Currency translation adjustment						(96)			(139)			(235)
Other goodwill adjustments 1						—			38			38
Balance at December 31, 2024						$	5,326		$	5,082		$	10,408
Currency translation adjustment						(14)			71			57
Balance at December 31, 2025						$	5,312		$	5,153		$	10,465

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

The company performed annual qualitative testing on all of its reporting units in 2025 and 2024, determining that no goodwill impairments existed in either year. As of December 31, 2025, accumulated impairment losses on goodwill were $4,503 million.

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Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Other Intangible Assets

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

			December 31, 2025									December 31, 2024
(In millions)			Gross			Accumulated Amortization			Net			Gross			Accumulated Amortization			Net
Intangible assets subject to amortization (finite-lived):
Germplasm			$	6,291		$	(1,587)		$	4,704		$	6,291		$	(1,336)		$	4,955
Customer-related			2,394			(1,024)			1,370			2,350			(863)			1,487
Developed technology			1,860			(1,283)			577			1,838			(1,161)			677
Trademarks/trade names			2,056			(466)			1,590			2,056			(380)			1,676
Other 1			368			(313)			55			388			(312)			76
Total other intangible assets with finite lives			$	12,969		$	(4,673)		$	8,296		$	12,923		$	(4,052)		$	8,871
Intangible assets not subject to amortization (indefinite-lived):
In-process research and development			5			—			5			5			—			5
Total other intangible assets with indefinite lives			5			—			5			5			—			5
Total other intangible assets			$	12,974		$	(4,673)		$	8,301		$	12,928		$	(4,052)		$	8,876

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

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

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

(In millions)
2026			$	637
2027			576
2028			555
2029			531
2030			521

NOTE 13 - LEASES

The company has operating and finance leases for real estate, transportation, certain machinery and equipment, and information technology assets. The company’s leases have remaining lease terms of approximately 1 to 37 years. For purposes of calculating operating lease liabilities, lease terms may be deemed to include options to extend the lease when it is reasonably certain that the company will exercise that option. Some leasing arrangements require variable payments that are dependent on usage, output, or may vary for other reasons, such as insurance and tax payments. The variable lease payments are not presented as part of the initial ROU asset or lease liability.

Certain of the company's leases include residual value guarantees. These residual value guarantees are based on a percentage of the lessor's asset acquisition price and the amount of such guarantee generally declines over the course of the lease term. The portion of residual value guarantees that are probable of payment are included in the related lease liability. At December 31, 2025, the company has future maximum payments for residual value guarantees in operating leases of $183 million with final expirations through 2035. The company's lease agreements do not contain any material restrictive covenants.

F-31

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

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

			For the Year Ended December 31,
(In millions)			2025			2024			2023
Operating lease cost			$	161		$	176		$	169
Finance lease cost
Amortization of right-of-use assets			—			1			1
Total finance lease cost			$	—		$	1		$	1
Short-term lease cost			37			27			23
Variable lease cost			7			8			11
Total lease cost			$	205		$	212		$	204

Supplemental cash flow information related to leases for the years ended December 31, 2025, 2024 and 2023 was as follows:

			For the Year Ended December 31,
(In millions)			2025			2024			2023
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash outflows from operating leases			$	166		$	188		$	169
Financing cash outflows from finance leases			$	—		$	1		$	1

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

Supplemental balance sheet information related to leases is as follows:

(In millions)			December 31, 2025			December 31, 2024
Operating Leases
Operating lease right-of-use assets 1			$	411		$	414
Current operating lease liabilities 2			122			134
Noncurrent operating lease liabilities 3			293			342
Total operating lease liabilities			$	415		$	476
Finance Leases
Property, plant, and equipment, gross			$	14		$	14
Accumulated depreciation			(14)			(14)
Property, plant, and equipment, net			$	—		$	—
Short-term borrowings and finance lease obligations			—			—
Long-term debt			—			—
Total finance lease liabilities			$	—		$	—

1.Included in other assets in the Consolidated Balance Sheets.

2. Included in accrued and other current liabilities in the Consolidated Balance Sheets.

3. Included in other noncurrent obligations in the Consolidated Balance Sheets.

The company utilizes the incremental borrowing rate in determining the present value of lease payments unless the implicit rate is readily determinable.

Lease Term and Discount Rate			December 31, 2025			December 31, 2024
Weighted-average remaining lease term (years)
Operating leases			6.20			6.44
Finance leases			0			0.38
Weighted average discount rate
Operating leases			3.85		%	3.32		%
Finance leases			—		%	3.29		%

F-32

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Maturities of lease liabilities are as follows:

Maturity of Lease Liabilities at December 31, 2025			Operating Leases
(In millions)
2026			$	136
2027			95
2028			71
2029			51
2030			33
2031 and thereafter			87
Total lease payments			$	473
Less: Interest			58
Present value of lease liabilities			$	415

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

The following tables summarize Corteva's short-term borrowings and finance lease obligations and long-term debt:

Short-Term Borrowings and Finance Lease Obligations
(In millions)			December 31, 2025			December 31, 2024
364-Day Revolving Credit Facility			$	—		$	—
Other loans - various currencies			112			250
Long-term debt payable within one year			782			500
Finance lease obligations payable within one year			—			—
Total short-term borrowings and finance lease obligations			$	894		$	750

Long-Term Debt
			December 31, 2025									December 31, 2024
(In millions)			Amount			Weighted Average Rate						Amount			Weighted Average Rate
Promissory notes and debentures:
Maturing in July 2025			$	—		—		%				$	500		1.70		%
Maturing in May 2026			600			4.50		%				600			4.50		%
Maturing in July 2030			500			2.30		%				500			2.30		%
Maturing in May 2032			500			5.125		%				—			—		%
Maturing in May 2033			600			4.80		%				600			4.80		%
Other loans:
Foreign currency loans, various rates and maturities			182			12.70		%				161			12.70		%
Medium-term notes, varying maturities through 2041			102			3.76		%				104			4.41		%
Finance lease obligations			—									—
Less: Unamortized debt discount and issuance costs			16									12
Less: Long-term debt due within one year			782									500
Total long-term debt			$	1,686								$	1,953

Principal payments of long-term debt are $782 million and $500 million for debt maturing in 2026 and 2030, respectively. There is no debt maturing in 2027, 2028 or 2029.

The estimated fair value of the company's short-term and long-term borrowings, including interest rate financial instruments was determined using Level 2 inputs within the fair value hierarchy, as described in Note 2 - Summary of Significant Accounting Policies. Based on quoted market prices for the same or similar issues, or on current rates offered to the company for debt of the same remaining maturities, the fair value of the company's short-term borrowings and finance lease obligations was approximately carrying value.

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Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

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

Debt Offering

In May 2025, the company issued $500 million of 5.125 percent Senior Notes due in May 2032 (the “May 2025 Debt Offering”). The proceeds were used to repay the $500 million senior notes that matured in July 2025.

In May 2023, the company issued $600 million of 4.5 percent Senior Notes due in 2026 and $600 million of 4.8 percent Senior Notes due in 2033 (the “May 2023 Debt Offering”). The proceeds of this offering are intended to be used for general corporate purposes, which may include funding of working capital, capital expenditures and share repurchases.

Foreign Currency Loans

The company enters into short-term and long-term foreign currency loans from time-to-time by accessing uncommitted revolving credit lines to fund working capital needs of foreign subsidiaries in the normal course of business ("Foreign Currency Loans"). Interest rates are variable and determined at the time of borrowing. Total unused bank credit lines on the Foreign Currency Loans at December 31, 2025 was approximately $86 million. The company's long-term Foreign Currency Loans are maturing in March 2026.

Available Committed Credit Facilities

The following table summarizes the company's credit facilities:

Committed and Available Credit Facilities at December 31, 2025
(In millions)			Effective Date			Committed Credit			Credit Available			Maturity Date			Interest
Revolving Credit Facility			June 2024			$	2,850		$	2,850		June 2029			Floating Rate
Revolving Credit Facility			June 2024			1,900			1,900			June 2027			Floating Rate
364-Day Revolving Credit Facility			February 2025			750			750			February 2026			Floating Rate
Total committed and available credit facilities						$	5,500		$	5,500

Revolving Credit Facilities

In May 2022, the company entered into a $3 billion, five year revolving credit facility and a $2 billion, three-year revolving credit facility (the "Revolving Credit Facilities”) expiring in May 2027 and May 2025, respectively. Borrowings under the revolving credit facilities have an interest rate equal to Adjusted Term SOFR, which is Term SOFR plus 0.10 percent, plus the applicable margin. In June 2024, the Revolving Credit Facilities were refinanced for purposes of extending the maturity dates for the five-year and three-year revolving credit facilities to June 2029 and June 2027, respectively, and lowering the facility amount of the five-year revolving credit facility to $2.85 billion and the three-year revolving credit facility to $1.9 billion. The Revolving Credit Facilities may serve as a substitute to the company's commercial paper program, and can be used from time to time, for general corporate purposes including, but not limited to, the funding of seasonal working capital needs. The Revolving Credit Facilities contain customary representations and warranties, affirmative and negative covenants and events of default that are typical for companies with similar credit ratings. Additionally, the Revolving Credit Facilities contain a financial covenant requiring that the ratio of total indebtedness to total capitalization for Corteva and its consolidated subsidiaries not exceed 0.60. At December 31, 2025, the company was in compliance with these covenants.

364-Day Revolving Credit Facility

In January 2023, the company amended and restated its May 2022 364-day revolving credit agreement (the “364-Day Revolving Credit Facility”) increasing the facility amount to $1 billion and extending the expiration date to January 2024. Borrowings under the 364-Day Revolving Credit Facility have an interest rate equal to Adjusted Term SOFR, which is Term SOFR plus 0.10 percent, plus the applicable margin. The 364-Day Revolving Credit Facility includes a provision under which the company may convert any advances outstanding prior to the maturity date into term loans having a maturity date up to one year later. In February 2023, the company drew down $1 billion under the 364-Day Revolving Credit Facility, which was used for general corporate purposes, including funding seasonal working capital needs, capital spending, dividend payments, share repurchases and to partially fund the Stoller and Symborg acquisitions. In May 2023, the company repaid the $1 billion loan using the proceeds from the May 2023 Debt Offering and subsequently, in July 2023 reduced the available credit from $1 billion to $500 million. In February 2024, the company amended and restated the 364-Day Revolving Credit Facility, increasing the facility amount to $1 billion and extending the expiration date to February 2025. In February 2025, the company amended and restated the 364-Day Revolving Credit Facility, decreasing the facility amount from $1 billion to $750 million and extending the expiration date to February 2026. In February 2026, the company amended and restated the 364-Day Revolving Credit Facility, increasing the facility amount from $750 million to $1.25 billion, extended the expiration date to

F-34

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

February 2027 and amended the interest rate to Term SOFR plus the applicable margin. The 364-Day Revolving Credit Facility contains customary representations and warranties, affirmative and negative covenants and events of default that are typical for companies with similar credit ratings. Additionally, the 364-Day Revolving Credit Facility contains a financial covenant requiring that the ratio of total indebtedness to total capitalization for Corteva and its consolidated subsidiaries not exceed 0.60. At December 31, 2025, the company was in compliance with these covenants.

Uncommitted Credit Facilities and Outstanding Letters of Credit

Unused bank credit lines on uncommitted credit facilities were $696 million at December 31, 2025. These lines are available to support short-term liquidity needs and general corporate purposes, including letters of credit. Outstanding letters of credit were $248 million at December 31, 2025. These letters of credit support commitments made in the ordinary course of business.

NOTE 15 - COMMITMENTS AND CONTINGENT LIABILITIES

Guarantees

Indemnifications

In connection with acquisitions and divestitures, the company has indemnified respective parties against certain liabilities that may arise in connection with these transactions and business activities prior to the completion of the transactions. The term of these indemnifications, which typically pertain to environmental, tax and product liabilities, is generally indefinite. In addition, the company indemnifies its duly elected or appointed directors and officers to the fullest extent permitted by Delaware law, against liabilities incurred as a result of their activities for the company, such as adverse judgments relating to litigation matters. If the indemnified party were to incur a liability or have a liability increase as a result of a successful claim, pursuant to the terms of the indemnification, the company would be required to reimburse the indemnified party. The maximum amount of potential future payments is generally unlimited. See below for additional information relating to the indemnification obligations under the Chemours Separation Agreement and the Corteva Separation Agreement.

Obligations for Supplier Finance Programs

The company enters into supplier finance programs with various finance providers in which the company agrees to pay these finance providers the stated amount of confirmed invoices from participating suppliers by the original maturity date. The company or the finance provider may terminate the agreement upon providing at least thirty days’ written notice. The payment terms that the company has with its finance providers under supplier finance programs are less than one year. At December 31, 2025 and 2024, the outstanding obligations under supplier finance programs was approximately $121 million and $88 million, respectively, and included within accounts payable in the Consolidated Balance Sheets.

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

(In millions)
Confirmed obligations outstanding at December 31, 2023			$	115
Invoices confirmed during the year			571
Confirmed invoices paid during the year			(598)
Confirmed obligations outstanding at December 31, 2024			$	88
Invoices confirmed during the year			690
Confirmed invoices paid during the year			(657)
Confirmed obligations outstanding at December 31, 2025			$	121

Obligations for Customers and Other Third Parties

The company has directly guaranteed various debt obligations under agreements with third parties related to customers and other third parties. At December 31, 2025 and 2024, the company had directly guaranteed $71 million and $64 million, respectively, of such obligations. These amounts represent the maximum potential amount of future (undiscounted) payments that the company could be required to make under the guarantees in the event of default by the guaranteed party. The maximum future payments include $5 million and $4 million of guarantees related to the various factoring agreements that the company enters into with third-party financial institutions to sell its trade receivables at December 31, 2025 and 2024, respectively. See Note 9 - Accounts and Notes Receivable - Net, to the Consolidated Financial Statements, for additional information.

The maximum future payments also include agreements with lenders to establish programs that provide financing for select customers. The terms of the guarantees are equivalent to the terms of the customer loans that are primarily made to finance

F-35

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

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

The company assesses the payment/performance risk by assigning default rates based on the duration of the guarantees. These default rates are assigned based on the external credit rating of the counterparty or through internal credit analysis and historical default history for counterparties that do not have published credit ratings. For counterparties without an external rating or available credit history, a cumulative average default rate is used.

Indemnifications under Separation Agreements

The company has entered into various agreements where the company is indemnified for certain liabilities. The term of this indemnification is generally indefinite, with exceptions, and includes defense costs and expenses, as well as monetary and non-monetary settlements and judgments. In connection with the recognition of liabilities related to these matters, the company records an indemnification asset when recovery is deemed probable.

Chemours Separation Agreement (Performance Chemicals)

Pursuant to the Chemours Separation Agreement resulting from the 2015 spin-off of the Performance Chemicals segment from Historical DuPont, Chemours indemnifies the company against certain litigation, environmental, workers' compensation and other liabilities that arose prior to the distribution.

In 2017, the Chemours Separation Agreement was amended to provide for a limited sharing of potential future liabilities related to alleged historical releases of perfluorooctanoic acids and its ammonium salts (“PFOA”) for a five-year period that began on July 6, 2017. Additionally, in January 2021, a binding memorandum of understanding as described below replaced the potential future liability sharing arrangements established in the 2017 amendment to the Chemours Separation Agreement. At December 31, 2025 and December 31, 2024, the indemnification assets from Chemours were $138 million and $43 million, respectively, within accounts and notes receivable - net and $470 million and $280 million, respectively, within other assets in the interim Consolidated Balance Sheets. These indemnification assets are regularly assessed for collectability and the company has concluded that these assets are recoverable. The liabilities subject to Chemours indemnification are considered stray liabilities under the Corteva Separation Agreement. Therefore, if Chemours fails to indemnify the company, these stray liabilities are subject to proportionate cost sharing between Corteva and DuPont, on a 29 percent and 71 percent basis, respectively, as further described in this footnote below.

On May 13, 2019, Chemours filed suit in the Delaware Court of Chancery against DuPont, EIDP, and Corteva, seeking, among other things, to limit its responsibility for the litigation and environmental liabilities allocated to and assumed by Chemours under the Chemours Separation Agreement (the “Delaware Litigation”). On March 30, 2020, the Court of Chancery granted a motion to dismiss. On December 15, 2020, the Delaware Supreme Court affirmed the judgment of the Court of Chancery. Meanwhile, a confidential arbitration process regarding the same and other claims proceeded (the “Arbitration”).

On January 22, 2021, Chemours, DuPont, Corteva and EIDP entered into a binding memorandum of understanding resolving legal disputes originating from the Delaware Litigation and Arbitration, and establishing a cost sharing arrangement and escrow account supporting and managing potential future legacy per- and polyfluoroalkyl substances (“PFAS”) liabilities arising out of pre-July 1, 2015 conduct (the “MOU”). The MOU replaced a prior 2017 amendment to the Chemours Separation Agreement. According to the terms of the MOU, Corteva and DuPont together, on one hand, and Chemours, on the other hand, agreed to a 50-50 split of certain qualified expenses related to PFAS liabilities incurred over a term not to exceed twenty years or $4 billion of qualified spend and escrow account contributions (see below for discussion of the escrow account) in the aggregate. DuPont’s and Corteva’s 50 percent share under the MOU will be limited to $2 billion, including qualified expenses and escrow account contributions. These expenses and escrow account contributions will be subject to the existing Letter Agreement, under which DuPont and Corteva will each bear 50 percent of the first $300 million (up to $150 million each), and thereafter DuPont bears 71 percent and Corteva bears the remaining 29 percent. Under the terms of the MOU, Corteva’s estimated aggregate share of the potential $2 billion is approximately $600 million.

In order to support and manage any potential future PFAS liabilities, the parties also agreed to establish an escrow account (“MOU Escrow Account”). The MOU provides that (1) no later than each of September 30, 2021 and September 30, 2022, Chemours shall deposit $100 million into an escrow account and DuPont and Corteva shall together deposit $100 million in the aggregate into an escrow account and (2) no later than September 30 of each subsequent year through and including 2028, Chemours shall deposit $50 million into an escrow account and DuPont and Corteva shall together deposit $50 million in the aggregate into an escrow account. Subject to the terms and conditions set forth in the MOU, each party may be permitted to defer funding in any year (excluding 2021). Over this period, Chemours will deposit a total of $500 million in the account and DuPont and Corteva will deposit an additional $500 million pursuant to the terms of the Letter Agreement. Additionally, if on December 31, 2028, the balance of the escrow account (including interest) is less than $700 million, Chemours will make 50

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Notes to the Consolidated Financial Statements (continued)

percent of the deposits and DuPont and Corteva together will make 50 percent of the deposits necessary to restore the balance of the escrow account to $700 million, pursuant to the terms of the Letter Agreement. Such payments will be made in a series of consecutive annual equal installments commencing on September 30, 2029, pursuant to the escrow account replenishment terms as set forth in the MOU. The MOU provides that no withdrawals from the MOU Escrow Account can be made before year six, except to fund mutually agreed upon third-party settlements in excess of $125 million. Starting with year six, withdrawals can only be made to fund qualified spend if the parties’ aggregate qualified spend in that particular year is greater than $200 million. Beginning with year 11, the amounts in the MOU Escrow Account can be used to fund any qualified spend.

In April 2024, Corteva, EIDP, DuPont, and Chemours received a final judgment resolving all drinking water claims related to PFAS of a defined class of U.S. public water systems that serve the vast majority of the United States population (the “Nationwide Water District Settlement”). In connection with the Nationwide Water District Settlement, the MOU was supplemented to waive funding due to the MOU Escrow Account by Chemours, DuPont and Corteva for 2023 provided that each party fully funds its portion of the Nationwide Water District Settlement and said settlement is consummated. The funding obligation to the MOU Escrow Account with respect to 2024 and due September 30, 2024 was to be waived if (i) between October 1, 2023 and September 30, 2024, the parties had entered into settlement agreements resolving liabilities under the MOU that in the aggregate exceed $100 million; (ii) each company had fully funded its respective share, in accordance with the MOU, of such settlements; and (iii) such settlements were consummated. No such waiver was triggered for the 2024 escrow funding obligation due September 30, 2024 and, therefore, the company made its required contribution.

The company made its annual installment deposits due to the MOU Escrow Account through December 31, 2025. The MOU escrow account contains $105 million as of December 31, 2025, representing the aggregate contributions from Chemours, DuPont and Corteva, less withdrawals to fund related settlements.

After the term of this arrangement, Chemours’ indemnification obligations under the original 2015 Chemours Separation Agreement, would continue unchanged, subject in each case to certain exceptions set out in the MOU. Under the MOU, Chemours waived specified claims regarding the construct of its 2015 spin-off transaction, and the parties dismissed the pending arbitration regarding those claims. Additionally, the parties have agreed to resolve the Ohio MDL PFOA personal injury litigation (as discussed below). The parties are expected to cooperate in good faith to enter into additional agreements reflecting the terms set forth in the MOU.

The Chemours Separation Agreement obligates Chemours to defend and indemnify EIDP in legacy asbestos cases. As of December 31, 2025, there were approximately 900 pending lawsuits, with most being allegations of personal injury from Historical DuPont contractors. At December 31, 2025 and 2024, the company has a litigation accrual of $88 million and $38 million, respectively, and related indemnification assets of $87 million and $38 million, respectively, recorded.

Corteva Separation Agreement

On April 1, 2019, in connection with the Dow Distribution, Corteva, DuPont and Dow entered into the Corteva Separation Agreement, the Tax Matters Agreement ("TMA"), the Employee Matters Agreement, and certain other agreements (collectively, the “Corteva Separation Agreements”). The Corteva Separation Agreements allocate among Corteva, DuPont and Dow assets, employees, certain liabilities and obligations (including its investments, property and employee benefits and tax-related assets and liabilities) and provides for indemnification obligation among the parties. Under the Corteva Separation Agreement, DuPont indemnifies Corteva against certain litigation, environmental, tax, workers' compensation and other liabilities that arose prior to the Corteva Distribution, Dow indemnifies Corteva against certain litigation, environmental, tax, workers' compensation and other liabilities that relate to the Historical Dow business, and Corteva indemnifies DuPont and Dow for certain liabilities.

Under the Corteva Separation Agreements, certain legacy EIDP liabilities from discontinued and/or divested operations and businesses of EIDP (including Performance Chemicals) (a “stray liability”) were allocated to Corteva or DuPont. Costs and liabilities have been shared based on the terms of the Corteva Separation Agreement. All future stray liabilities are allocated to Corteva and DuPont proportionally on the basis of 29 percent and 71 percent, respectively, subject to a $1 million de minimis requirement.

On November 1, 2025, DuPont spun off its electronics business, Qnity Electronics, Inc. ("Qnity"). DuPont, Corteva and Qnity entered into a letter agreement, effective November 1, 2025, affirming that DuPont is not novated from its obligations with respect to Corteva for legacy liabilities allocated to Qnity in its spin-off ("Qnity Letter Agreement"). Additionally, under the Qnity Letter Agreement, Corteva has certain third-party beneficiary rights to enforce indemnity and payment obligations of DuPont's with respect to legacy liabilities allocated to Qnity subject to: (i) DuPont's consent; or (ii) Corteva's receipt of a judgment that includes payment obligations for legacy liabilities attributable to Qnity, and either DuPont does not use commercially reasonable efforts to enforce the payment obligation against Qnity, or DuPont files for bankruptcy.

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Notes to the Consolidated Financial Statements (continued)

At December 31, 2025 and 2024, the aggregate indemnification assets from DuPont and Dow were $104 million and $47 million, respectively, within accounts and notes receivable - net and $263 million and $143 million, respectively, within other assets in the Consolidated Balance Sheets. At December 31, 2025 and December 31, 2024, the aggregate indemnification liabilities were $26 million and $9 million, respectively, within accrued and other current liabilities and $154 million and $149 million, respectively, within other noncurrent obligations in the Consolidated Balance Sheets.

Discontinued Operations Activity

For the years ended December 31, 2025 and 2024, the company recorded benefits (charges) of $(99) million and $56 million, to income (loss) from discontinued operations after income taxes, in the Consolidated Statement of Operations. The after-tax charge recognized during the year ended December 31, 2025 was driven by charges relating to the MOU with Chemours and DuPont, comprised of a litigation charge associated with the NJ Statewide Settlement as well as PFAS environmental remediation activities primarily at Chemours' Fayetteville Works facility, along with other environmental matters. The after-tax benefit recognized during the year ended December 31, 2024 was driven by charges pursuant to the MOU with Chemours and DuPont relating to PFAS remediation activities primarily at Chemours' Fayetteville Works facility and litigation activity, which were more than offset by a favorable adjustment of certain prior year tax positions for previously divested businesses, the derecognition of an indemnification liability associated with the Water District Settlement Fund contribution, and insurance proceeds related to legacy matters.

Litigation

The company is subject to various legal proceedings, including, but not limited to, product liability, intellectual property, antitrust, commercial, property damage, personal injury, environmental and regulatory matters arising out of the normal course of its current businesses or legacy EIDP businesses unrelated to Corteva’s current businesses but allocated to Corteva as part of the Corteva Separation from DuPont. It is not possible to predict the outcome of these various proceedings, as considerable uncertainty exists. The company records accruals for legal matters when the information available indicates that it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. Accruals may reflect the impact and status of negotiations, settlements, rulings, advice from counsel and other information and events that may pertain to a particular matter. For the litigation matters discussed below, management believes that it is reasonably possible that the company could incur liabilities in excess of amounts accrued, for which the ultimate liability could be material to the results of operations and the cash flows in the period recognized. However, the company is unable to estimate the possible loss beyond amounts accrued due to various reasons, including, among others, that the underlying matters are either in early stages and/or have significant factual issues to be resolved. In addition, even when the company believes it has substantial defenses, the company may consider settlement of matters if it believes it is in the best interest of the company. At December 31, 2025 and 2024, current accrued litigation was $874 million and $228 million, respectively, within accrued and other current liabilities. A current indemnification asset of $188 million was recorded within accounts and notes receivable - net at December 31, 2025 in relation to the current accrued litigation. See the "Chemours Separation Agreement (Performance Chemicals)" and the "Corteva Separation Agreement" sections for further details on the indemnifications.

Bayer Dispute

In August 2022, Bayer filed a breach of contract/declaratory judgment lawsuit in Delaware state court against Corteva relating to an agrobacterium cross-license agreement and Enlist E3® soybeans. Bayer alleged that Corteva practiced two Bayer patents in developing Enlist E3® soybeans, and therefore, is entitled pursuant to the terms of the cross-license agreement to royalties for sales between 2019 through 2029, along with interest. In January 2025, the court issued several rulings precluding Corteva's invalidity and inequitable conduct defenses, while also aligning on key aspects of Corteva's patent claim construction. In May 2025, the Delaware state court granted Corteva’s motion for partial summary judgment agreeing that U.S. Supreme Court precedent precludes the collection of royalties after patent expiration. Bayer’s motion for reconsideration was denied in June 2025. In July 2025, a stipulated order allowed Bayer to appeal the summary judgment finding, while also allowing Corteva’s cross-appeal of the dismissal of its invalidity and inequitable conduct defenses.

In August 2022, Corteva filed a lawsuit against Bayer CropScience LLP and Monsanto Company (collectively “Bayer”) in federal court in Delaware for alleged infringement of Corteva’s patented AAD-1 herbicide resistance technology used in Enlist® corn. The complaint for this lawsuit was amended to include additional patents that are closely related to this patented technology for soybeans. Corteva seeks to enjoin Bayer from continuing to infringe, as well as appropriate monetary damages. Bayer has filed an answer to the complaint and has asserted various affirmative defenses including invalidity. In August 2023, the court issued a decision adopting Corteva’s claim construction for all five disputed patent terms subject to this litigation.

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

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Notes to the Consolidated Financial Statements (continued)

December 2024, the PTAB issued a decision invalidating these patents on the basis they were unpatentable. Corteva appealed this decision and Corteva's AAD-1 lawsuit remains stayed during pendency of the IPR appeal. Corteva holds numerous additional patents covering its Enlist® traits or Enlist® weed control system. Therefore, the IPR process is not expected to impact its ability to license and protect Enlist E3® traits.

In October 2022, Corteva filed a lawsuit against Bayer in Delaware state court seeking a declaration that, under the terms of Corteva’s licensing agreement and the law, Bayer is not entitled to collect patent royalties on the Roundup Ready® Corn 2 trait after Bayer’s U.S. patent protection expires, and therefore is no longer required to pay royalties under the licensing agreement and entitled to recover relevant royalties paid. In September 2024, the court granted Bayer’s motion for summary judgment. Corteva’s appeal was heard by the Delaware Supreme Court, en banc, in May 2025. Additionally, Corteva initiated arbitration of two additional agreements with Bayer seeking similar relief. The Delaware Supreme Court stayed the appeal proceedings pending resolution discussions between Corteva and Bayer.

As of January 2026, the parties agreed to settle the agrobacterium cross-license agreement dispute. In addition, Corteva and Bayer resolved several other disputes regarding post-patent royalties and other matters, including post-patent regulatory support, resulting in the termination or amendment of the related licenses, as applicable. As part of the resolution of these matters, the cross-license agreement has been terminated and Corteva has agreed to a payment of $610 million and to drop its AAD-1 patent claims against Bayer. Also as a result of the resolution of this litigation and the related license terminations and amendments, potential royalty obligations for Corteva's Enlist E3® soybeans, as well as future royalty payments due to Bayer under other licensing agreements in dispute were terminated. The settlement agreements support Corteva's product out-licensing growth in competitive corn, cotton and canola markets, including for the out-licensing of above and below ground triple-stack corn technology. In conjunction with resolution of these matters, the companies also agreed to new cotton licensing arrangements at terms reflective of market rates. There is no remaining litigation between the parties.

Federal Trade Commission Investigation

On May 26, 2020, Corteva received a subpoena from the Federal Trade Commission (“FTC”) directing it to submit documents pertaining to its Crop Protection products generally, as well as business plans, rebate programs, offers, pricing and marketing materials specifically related to its acetochlor, oxamyl, rimsulfuron and other related products in order to determine whether Corteva engaged in unfair methods of competition through anticompetitive conduct. Corteva has fully cooperated with all requests related to this subpoena. On September 29, 2022, the FTC, along with ten state attorneys general in California, Colorado, Illinois, Indiana, Iowa, Minnesota, Nebraska, Oregon, Wisconsin, and Texas, filed a lawsuit against Corteva and another competitor alleging the parties engaged in unfair methods of competition, unlawful conditioning of payments, unreasonably restrained trade, and have an unlawful monopoly (the “FTC lawsuit”). In December 2022, attorneys general in Tennessee and Washington joined the FTC lawsuit and the Arkansas state attorney general filed a separate lawsuit against Corteva and another competitor based on the allegations set forth in the FTC lawsuit. In July 2025, the Arkansas state attorney general amended the complaint to include methoxyfenozide, cyhalofop, picloram, triclopyr, and aminopyralid products. Several proposed private class action lawsuits were also filed in federal court alleging anticompetitive conduct based on the allegations set forth in the FTC lawsuit.

Virtually all of these private lawsuits were centralized into a multi-district litigation in the U.S. District Court for the Middle District of North Carolina. In January 2025, federal court for the multi-district litigation granted in part, and denied in part, Corteva's motion to dismiss. Specifically, the court order dismissed the plaintiff's federal damages claims and 13 of the 27 state consumer protection act claims. The plaintiffs amended their complaint to include methoxyfenozide products. The trials for these claims are expected to begin in 2027.

Lorsban® Lawsuits

As of December 31, 2024, there were asserted claims for personal injury against the former Dow Agrosciences LLC, alleging injuries related to chlorpyrifos exposure, the active ingredient in Lorsban®, an insecticide used by commercial farms for field fruit, nut and vegetable crops. Corteva ended its production of Lorsban® in 2020. Chlorpyrifos products are restricted-use pesticides, which are not available for purchase or use by the general public, and may only be sold to, and used by, certified applicators or someone under the certified applicator's direct supervision. These lawsuits do not relate to Dursban®, a residential type chlorpyrifos product that was authorized for indoor purposes, which was discontinued over two decades ago prior to the merger of Dow and Historical DuPont and Corteva’s formation and Separation. Claimants allege personal injury, including autism, developmental delays and/or decreased neurologic function, resulting from farm worker exposure and bystander drift and in utero exposure to chlorpyrifos. Certain claimants have also put forth remediation claims due to alleged property contamination from chlorpyrifos. As of December 31, 2025, an accrual has been established for the estimated resolution of certain claims.

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Notes to the Consolidated Financial Statements (continued)

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

For purposes of this report, the term PFOA means collectively perfluorooctanoic acid and its salts, including the ammonium salt and does not distinguish between the two forms, and PFAS, including PFOA, PFOS (perfluorooctanesulfonic acid), GenX and other perfluorinated chemicals and compounds ("PFCs").

EIDP is a party to various legal proceedings relating to the use of PFOA by its former Performance Chemicals segment for which potential liabilities would be subject to the cost sharing arrangement under the MOU as long as it remains effective.

Leach Settlement and Ohio MDL Settlement

EIDP has residual liabilities under its 2004 settlement of a West Virginia state court class action, Leach v. EIDP, which alleged that PFOA from EIDP’s former Washington Works facility had contaminated area drinking water supplies and affected the health of area residents. The settlement class has about 80,000 members. In addition to relief that was provided to class members years ago, the settlement requires EIDP to continue providing PFOA water treatment to six area water districts and private well users and to fund, through an escrow account, up to $235 million for a medical monitoring program for eligible class members. As of December 31, 2025, approximately $2 million had been disbursed from the account since its establishment in 2012 and the remaining balance is approximately $1 million.

PFOA Personal Injury Claims

In December 2024, the defendants reached a settlement of all of the currently filed and unfiled personal injury cases in the Ohio MDL for $59 million. The settlement was payable in two installments, with $8 million contributed in aggregate by Corteva. The final installment was paid upon the court dissolving the MDL in March 2025.

Other PFOA Matters

EIDP is a party to other PFOA lawsuits involving claims for property damage, medical monitoring and personal injury. Defense costs and any future liabilities that may arise out of these lawsuits are subject to the MOU and the cost sharing arrangement disclosed above. Under the MOU, fraudulent conveyance claims associated with these matters are not qualified expenses, unless Corteva, Inc. and EIDP would prevail on the merits of these claims.

EIDP did not make film-forming foams, PFOS, or PFOS products. While EIDP made surfactants and intermediaries that some manufacturers used in making foams, which may have contained PFOA as an unintended byproduct or an impurity, EIDP’s products were not formulated with PFOA, nor was PFOA an ingredient of these products. EIDP has never made or sold PFOA as a commercial product.

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

In August 2025, the SC MDL entered multiple case management orders requiring cases filed outside the SC MDL to be transferred to the SC MDL, establishing a 21-day window for unfiled cases to be filed, and allowing the filing of multi-plaintiff complaints. A significant number of new cases asserting personal injury were filed or transferred to the SC MDL. Many of the personal injury cases both inside and outside the SC MDL include and continue to include, as new cases are threatened, multiple plaintiffs. Therefore, the number of plaintiffs asserting such claims is substantially higher than the number of cases set forth above. The first bellwether personal injury trial is expected to be scheduled for 2026. Discussions between the parties on a resolution to these cases remain ongoing.

Nationwide Water District Settlement. On June 1, 2023, Corteva, EIDP, Inc., DuPont, and Chemours (collectively, the “settling companies”) entered into a binding agreement in principle to comprehensively resolve all drinking water claims related to PFAS of a defined class of U.S. public water systems that serve the vast majority of the United States population, including, but not limited to the AFFF claims in the SC MDL, under the Nationwide Water District Settlement, for $1.185 billion in the aggregate. PFAS, as defined in the settlement, includes PFOA and HFPO-DA, among a broad range of fluorinated organic substances. In April 2024, the settlement was deemed final resulting in the release of the previously restricted cash in the Water District Settlement Fund and derecognition of the associated liability. The Nationwide Water District Settlement was entered into solely by way of compromise and settlement and is not in any way an admission of liability or fault by Corteva or EIDP.

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Notes to the Consolidated Financial Statements (continued)

The class represented by the Nationwide Water District Settlement is composed of all Public Water Systems, as defined in 42 U.S.C. § 300f, with a current detection of PFAS or that are currently required to monitor for PFAS under the Environmental Protection Agency’s Fifth Unregulated Contaminant Monitoring Rule (“UCMR 5”) or other applicable federal or state law (the “Class”). Approximately 88 percent of the U.S. is served by systems required to test under UCMR 5. The Class does not include water systems owned and operated by a State or the United States government; small systems that have not detected the presence of PFAS and are not currently required to monitor for it under federal or state requirements; and, unless they otherwise request to be included, water systems in the lower Cape Fear River Basin of North Carolina.

The total number of requests for exclusion (“opt-outs”) was approximately 900 water districts while most public water districts (approximately 93 percent of the Class) remain in the class settlement. The company has been served complaints from opt-outs, as well as water district and municipal authority claims not covered by the Nationwide Water District Settlement.

New Jersey. In late March 2019, the New Jersey State Attorney General filed four lawsuits against EIDP, Chemours, and others alleging that operations at and discharges from former EIDP sites in New Jersey (Chambers Works, Parlin, Pompton Lakes, and Repauno) damaged the State’s natural resources. Two of these lawsuits (those involving the Chambers Works and Parlin sites) allege contamination from PFAS. DuPont and Corteva were subsequently added as defendants to these lawsuits. These lawsuits include claims for remediation, fraudulent conveyance, as well as claims under the New Jersey Water Pollution Control Act and the New Jersey Industrial Site Recovery Act (“ISRA”).

On August 3, 2025, the company, together with Chemours and DuPont agreed to a proposed Judicial Consent Order with the State of New Jersey (the "NJ Statewide Settlement") to resolve all outstanding claims by the State of New Jersey pending against the companies related to the legacy use of a wide variety of substances of concern, including, but not limited to DNAPL (dense non-aqueous phase liquids), chemical solvents, and PFAS. Subject to a public notice and comment period and subject to court approval following that period, the NJ Statewide Settlement will also resolve legacy claims related to four Historical DuPont operating sites (Chambers Works, Parlin, Pompton Lakes and Repauno) in the State, including claims under ISRA, alleged statewide PFAS contamination, including from the use of AFFF, claims of fraudulent conveyance, and claims for known natural resource damages from these Historical DuPont sites that the State of New Jersey and its departments have, or may have, in the future against the companies.

The NJ Statewide Settlement, after the expiration of the public notice and comment period, is subject to court approval. The court hearing for this approval occurred in January 2026 with a conclusion on the approval expected during the first half of 2026. The NJ Statewide Settlement includes aggregate cash payments to the State of New Jersey of $875 million, payable over a period of 25 years (net present value of approximately $500 million, using an 8 percent discount rate), responsibility for which will be allocated among the settling companies in accordance with the terms of the MOU. Of the $875 million, approximately $16 million is allocated to statewide natural resource damages unrelated to the four Historical DuPont sites, 25 percent of which relates to alleged statewide AFFF contamination. Accordingly, in the second quarter of 2025, the company recorded a pre-tax loss of $72 million ($58 million after-tax) within discontinued operations, reflecting the net present value of the company's share of the aggregate cash payment in accordance with the MOU. The settling companies have agreed to count the NJ Statewide Settlement against the MOU limit at net present value as of the date of the NJ Statewide Settlement. Entry into the NJ Statewide Settlement suspended the companies' 2025 MOU escrow funding obligations and funding of the initial payment under the NJ Statewide Settlement, expected in 2026, will be deemed to satisfy these obligations for 2025.

In addition to the cash payment, the NJ Statewide Settlement obligates certain settling companies to continue to undertake remediation at the four Historical DuPont sites, which will be determined in accordance with applicable law and the respective cost sharing arrangements between the settling companies, to the extent applicable. DuPont and Chemours will be responsible for the remediation at the sites under their current respective ownership. As part of the NJ Statewide Settlement, the companies have agreed to a binding third party review process of the remedial funding source ("RFS") for each of the four Historical DuPont sites (in the form of a surety bond or similar financial instrument) to ensure available funds for future remediation of these sites. This review process could identify additional required remediation, and an increase to the RFS for each of these sites.

The company and DuPont will also establish a reserve fund (in the form of a surety bond or similar financial instrument) in the amount of $475 million (the "Reserve Fund") with DuPont funding 71 percent and the company bearing the remaining 29 percent. The Reserve Fund is further financial security, separate from, and secondary to, the RFS, and the Reserve Fund will be accessible only in the event the RFS for a site has been exhausted and the party responsible for a site is not otherwise performing the required remediation. If a responsible party under the NJ Statewide Settlement defaults on their remediation or payment obligations (subject first to the cost sharing arrangements under the Corteva Separation Agreements, which provides that these obligations are "stray liabilities"), EIDP will become responsible for such obligations.

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Notes to the Consolidated Financial Statements (continued)

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

Pursuant to a separate agreement among the company, DuPont, and Chemours, DuPont and the company will purchase Chemours' future interest, if any, in certain insurance proceeds. DuPont and the company will make the purchase by contributing a total of $150 million, with $106 million from DuPont and $44 million from the company, into an escrow fund, with funds to be released to pay Chemours' share of the NJ Statewide Settlement. DuPont and the company will pay Chemours, as additional contingent consideration, amounts received from the acquired insurance proceeds in excess of $150 million plus an accrued fee. The accrued fee will equal the lesser of (a) $35 million, and (b) $3 million plus interest (at prime minus 2 percent) on an initial balance of $150 million, as reduced by any amounts received by DuPont and Corteva from the acquired insurance proceeds, until DuPont and the company have so received $150 million, plus the accrued fee. The purchase price to be paid to Chemours, and the insurance proceeds recovered, by DuPont and the company from the insurance proceeds acquired from Chemours, are subject to the sharing percentages under the Letter Agreement.

Ohio. EIDP is a defendant in two lawsuits, including an action by the State of Ohio based on alleged damage to natural resources. The natural resources damage claim was preliminarily resolved in December 2023 for $110 million, with Corteva’s share of the settlement under the MOU being approximately $16 million of which $13 million has been paid. As of December 31, 2025, an accrual has been established. The second, a putative nationwide class action ("the Hardwick Class Action") brought on behalf of anyone who has detectable levels of PFAS in their blood serum seeks declaratory and injunctive relief, including the establishment of a “PFAS Science Panel.” In December 2023, the Sixth Circuit Court of Appeals dismissed the Hardwick Class Action due to lack of standing by Mr. Hardwick. With further opportunities for appeals expired, the plaintiffs filed a new case, narrowing their original claims, in June 2024. In January 2025, EIDP filed a motion to dismiss the new case on the grounds it remains similar to the original claim.

New York. EIDP is a defendant in a putative class action (the "Baker Class Action"), brought by persons who live in and around Hoosick Falls, New York. These lawsuits assert claims for medical monitoring, property damage and personal injury based on alleged PFOA releases from manufacturing facilities owned and operated by co-defendants in Hoosick Falls. The lawsuits allege that EIDP and others supplied materials used at these facilities resulting in PFOA air and water contamination. A court approved settlement was reached between the plaintiffs and the other co-defendants regarding the Baker Class Action case. In September 2022, the class certification of the Baker Class Action was granted, with the court certifying three separate classes consisting of a private well property damage class, a medical monitoring class and a nuisance class. A settlement in principle of the Baker Class Action was reached in June 2025 for $22 million, plus funding $1 million annually to a medical monitoring fund for five years. As of December 31, 2025, an accrual for Corteva’s share of the expected settlement under the MOU was established.

EIDP is a defendant in a lawsuit brought by the Town of East Hampton, New York alleging PFOA and PFOS contamination of the town’s well water. This district submitted a timely opt-out request from the Nationwide Water District Settlement. EIDP and Chemours are also defendants in two lawsuits by a private water utility provider in New Jersey and New York alleging damages from PFAS releases into the environment, that impacted water sources that the utilities use to provide water, as well as product liability, negligence, nuisance, and trespass claims. The court dismissed the New York plaintiff's trespass claims and limited plaintiffs’ nuisance claims to abatement damages

Other Natural Resource Damage Cases. In addition to the natural resource damage cases in New Jersey and New York, natural resource damage lawsuits against EIDP, Chemours, and others, claiming, among other things, PFC (including PFOA) contamination of groundwater and drinking water, have been filed by attorneys general in 31 states, the District of Columbia and three U.S. territories. Certain cases also name DuPont and Corteva as defendants and include claims of fraudulent conveyance. The complaints seek reimbursement for past and future costs to monitor and remediate the alleged contamination and compensation for the loss of value and use of the state’s natural resources, as well as punitive damages. Due to overlapping AFFF allegations, virtually all of these cases have been transferred, or are pending transfer to the SC MDL. These cases are largely in the discovery phase.

On July 13, 2021, Chemours, DuPont, EIDP and Corteva entered into a settlement agreement with the State of Delaware reflecting the companies' and the State's agreement to settle and fully resolve claims alleged against the companies regarding their historical Delaware operations, manufacturing, use and disposal of all chemical compounds, including PFAS. Under the settlement, if the companies, individually or jointly, within 8 years of the settlement, enter into a proportionally similar agreement to settle or resolve claims of another state for PFAS-related natural resource damages, for an amount greater than $50 million, the companies shall make a supplemental payment directly to the Natural Resources and Sustainability Trust (the “NRS Trust”) in an amount equal to such other states’ recovery in excess of $50 million ("Supplemental Payment"). Supplemental Payment(s), if any, will not exceed $25 million in the aggregate. All amounts paid by the companies under the

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Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

settlement are subject to the MOU and the Corteva Separation Agreement. Due to the settlement of natural resource damages claims with the State of Ohio, the one-time Supplemental Payment will be triggered when the further opportunity for appeals expires under the Ohio judicial consent order process. As of December 31, 2025, an accrual has been established for Corteva's share under the MOU. Under the settlement, if the state sues other parties and those parties seek contribution from the companies, the companies will have protection from contribution up to the amounts previously paid under the settlement agreement. The companies will also receive a credit up to the amount of the payment if the state seeks natural resource damage claims against the companies outside the scope of the settlement’s release of claims.

Canada. The Province of British Columbia, filed a class action against various defendants, including 3M, DuPont Canada, EIDP, and Chemours alleging harms caused by PFAS/AFFF. The class consists of all municipalities, regional districts, and other governance authorities and other persons in Canada that were responsible for a “Drinking Water System” from 1970 to the present. The plaintiff seeks to recover costs for the treatment and restoration of natural resources, as well as property, economic, and punitive damages. A putative class action was also filed in July 2024 on behalf of citizens of Quebec, Canada seeking class certification to recover for alleged PFAS and AFFF contamination of private wells and public water treatment facilities. In January 2024, a class action was also filed in Canada against 3M and other defendants, including EIDP and Chemours, alleging PFOS and PFOA environmental contamination and personal injury from use of AFFF. Additionally, several lawsuits on behalf of consumers of PFAS-infused products in the Province of British Columbia for personal injury and PFAS contamination in Manitoba, Canada have been filed.

Netherlands. In April 2021, four municipalities in the Netherlands filed complaints alleging contamination of land and groundwater resulting from the emission of PFOA and GenX by Corteva, DuPont and Chemours. The municipalities seek to recover costs incurred due to the alleged emissions, including damages for investigation costs, construction project delays, depreciation of land, soil remediation, liabilities to contractors, and attorneys’ fees. In September 2023, the court entered a second interlocutory judgment, ruling, inter alia, that defendants were liable to the municipalities for PFOA emissions during a certain time period, and the removal costs of deposited emissions on the municipalities' land infringes their property rights by an objective standard. In June 2024, Chemours and these Dutch municipalities signed a letter of intent that included the implementation of a specific remediation plan for the restoration of restricted vegetable gardens in certain areas of those municipalities to be funded by Chemours, sampling and developing a program to address a recreational lake, and further settlement discussions, including a potential fund to cover certain other expenditures aimed at environmental-related activities. While the letter of intent contemplates the possibility of settlement, discussions between the parties related to the resolution to these matters remain ongoing. Although the company believes a loss is probable, it is not estimable at this time due to various reasons including, among others, the status of discussions between the parties. As of December 31, 2025, an accrual has been established for the estimated environmental remediation set forth in the letter of intent. Additionally, the Office of Public Prosecutor in the Netherlands opened a criminal investigation against certain Dutch subsidiaries of Chemours and Historical DuPont, as well as each subsidiary's directors, alleging unlawful PFOA and GenX emissions from Chemours' Dordrecht Works facility.

Carpet Mill Cases. The city of Centre, Alabama water district alleged defendants, including EIDP, Chemours, other chemical suppliers and large carpet mills, discharged PFAS in their industrial wastewater, and that this wastewater after treatment, resulted in PFAS contamination of drinking water supplies. The trial for the Centre, Alabama water district carpet mill case is set to begin January 2026. In July 2024, the town of Lyerly, Georgia filed a case making similar allegations as those brought in the Centre, Alabama case. Numerous carpet, textile and paper manufacturers, their alleged suppliers and former suppliers, including EIDP and Chemours, and certain municipal or utility defendants are also subject to several lawsuits in Georgia, Alabama and South Carolina, alleging negligence, nuisance and trespass related to the release of PFOA, and requesting injunctive relief related to PFOA contamination.

Fayetteville Works Facility, North Carolina

Prior to the separation of Chemours, EIDP introduced GenX as a polymerization processing aid and a replacement for PFOA at the Fayetteville Works facility in Bladen County, North Carolina. This Historical DuPont facility is now owned and operated by Chemours, which continues to manufacture and use GenX. The current natural resources damage claims in North Carolina allege that direct discharges from this legacy facility are a source of PFOA contamination.

At December 31, 2025, several actions, including personal injury, are pending in the North Carolina federal court against Chemours and EIDP relating to PFC discharges from the Fayetteville Works facility. One of these is a consolidated putative class action that asserts claims for medical monitoring and property damage on behalf of putative classes of property owners and residents in areas near or who draw drinking water from the Cape Fear River. Another action is a consolidated action brought by various North Carolina water authorities, including the Cape Fear Public Utility Authority (“CFPUA”) and Brunswick County, that seek actual and punitive damages as well as injunctive relief. EIDP and Chemours filed a motion for summary judgment on this consolidated action in March 2025. Cumberland County, North Carolina, which is not part of the

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Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

forgoing consolidation action or the Nationwide Water District Settlement, filed an action for alleged PFOA contamination to its groundwater sources used in drinking water and seeking recovery for costs associated with water filtration, monitoring, and compliance costs. The pending mediation and trial for this matter are no longer scheduled.

In March 2023, CFPUA filed a Delaware Chancery Court action claiming the spin-off of Chemours and the Dow and Historical DuPont merger were unlawful and should be voided, so CFPUA is not precluded from recovering amounts it is entitled in its pending litigation. EIDP filed a motion to dismiss the Delaware Chancery Court action based upon failure to state a claim under Delaware law in June 2023, along with a counterclaim in October 2023. CFPUA’s motion to stay the case was granted in January 2024.

In a state court action approximately 2,400 private property owners near the Fayetteville Works facility seek compensatory and punitive damages for their claims of private nuisance, trespass, negligence, water monitoring and property damage allegedly caused by release of certain PFCs. In addition, several personal injury cases have been filed in the North Carolina federal court alleging thyroid disease, and prostate, breast and kidney cancers as a result of PFAS exposure.

Generally, site-related expenses related to GenX claims are subject to the cost sharing arrangements as defined in the MOU.

Environmental

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. These obligations are included in accrued and other current liabilities and other noncurrent obligations in the Consolidated Balance Sheets. It is reasonably possible that environmental remediation and restoration costs in excess of amounts accrued could have a material impact on the company’s results of operations, financial condition and cash flows. Inherent uncertainties exist in these estimates primarily due to unknown conditions, changing governmental regulations and legal standards regarding liability, and emerging remediation technologies for handling site remediation and restoration.

For a discussion of the allocation of environmental liabilities under the Chemours Separation Agreement and the Corteva Separation Agreement, see page F-36-37.

The accrued environmental obligations and indemnification assets include the following:

			As of December 31, 2025
(In millions)			Indemnification asset			Accrual balance 3			Potential exposure above amount accrued 3
Environmental Remediation Stray Liabilities
Chemours related obligations - subject to indemnity 1,2			$	254		$	264		$	204
Other discontinued or divested businesses obligations 1			33			71			201
Environmental remediation liabilities primarily related to DuPont - subject to indemnity from DuPont 2			50			55			55
Environmental remediation liabilities not subject to indemnity			—			112			86
Indemnification liabilities related to the MOU 4			—			60			7
Total			$	337		$	562		$	553

1.Represents liabilities that are subject to the $200 million threshold and sharing arrangements as discussed on page F-37, under the header "Corteva Separation Agreement."

2.The company has recorded an indemnification asset related to these accruals, including $22 million related to the Superfund sites.

3.Accrual balance represents management’s best estimate of the costs of remediation and restoration, although it is reasonably possible that the potential exposure, as indicated, could range above the amounts accrued, as there are inherent uncertainties in these estimates. Accrual balance includes $49 million for remediation of Superfund sites. Amounts do not include possible impacts from the remediation elements of the EPAs October 2021 PFAS Strategic Roadmap (as applicable), except as disclosed on page F-43 relating to Chemours' remediation activities at the Fayetteville Works Facility pursuant to the Consent Order with the North Carolina Department of Environmental Quality ("NC DEQ").

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

Nebraska Department of Environment and Energy, AltEn Facility

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

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Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

operated by AltEn LLC (“AltEn”). The agencies have alleged violations under the Resource Conservation and Recovery Act (“RCRA”) and other federal and state laws stemming from AltEn’s lack of compliance with the terms and conditions of its operating permits and other regulatory requirements. Corteva is one of six seed companies, who were customers of AltEn (collectively, the "Facility Response Group"), participating in the NDEE’s Voluntary Cleanup Program to address certain interim remediation needs at the site. In March 2025, the Facility Response Group reached an agreement to settle its lawsuit against AltEn and certain of its affiliates to preserve certain contractual and common law indemnification claims. The settlement agreement, among other things, limits AltEn’s ability to dispose of the property or take any adverse action with respect to its property or assets. As of December 31, 2025, an accrual was established for Corteva’s estimated voluntary contribution to the solid waste and wastewater remedial action plans for the AltEn location.

California Department of Toxic Substances Control, Pittsburg Plant

The California Department of Toxic Substances Control (“DTSC”) has filed a state court lawsuit over challenging whether the Pittsburg plant’s high purity water system (“HPWS”), as operated by Dow and now Corteva, required a permit pursuant to the RCRA. Discussions between the parties remain ongoing and further litigation, including discovery, is stayed.

NOTE 16 - STOCKHOLDERS' EQUITY

Common Stock

Set forth below is a reconciliation of common stock share activity for the years ended December 31, 2025, 2024, and 2023:

Shares of common stock			Issued
Balance at December 31, 2022			713,419,000
Issued			1,965,000
Repurchased and retired			(14,124,000)
Balance at December 31, 2023			701,260,000
Issued			2,244,000
Repurchased and retired			(17,909,000)
Balance at December 31, 2024			685,595,000
Issued			2,701,000
Repurchased and retired			(16,133,000)
Balance at December 31, 2025			672,163,000

Share Buyback Plan

On November 19, 2024, Corteva, Inc. announced that its Board of Directors authorized a $3 billion share repurchase program to purchase Corteva, Inc.'s common stock, par value $0.01 per share, without an expiration date ("2024 Share Buyback Plan"). The timing, price and volume of purchases will be based on market conditions, relevant securities laws and other factors. In connection with the 2024 Share Buyback Plan, the company repurchased and retired 8,318,000 shares in the open market for a cost (excluding excise taxes) of $571 million during the year ended December 31, 2025.

On September 13, 2022, Corteva, Inc. announced that its Board of Directors authorized a $2 billion share repurchase program to purchase Corteva, Inc.'s common stock, par value $0.01 per share, without an expiration date ("2022 Share Buyback Plan"). The company completed the 2022 Share Buyback Plan during the second quarter of 2025 and repurchased and retired 7,815,000, 17,909,000 and 10,026,000 shares in the open market and through privately-negotiated transactions for a cost (excluding excise taxes) of $500 million, $1 billion and $500 million during the years ended December 31, 2025, 2024 and 2023, respectively. Included within the shares repurchased during the years ended December 31, 2025 and 2024 were $145 million and $125 million, respectively, of shares from the master trust fund of the principal U.S. pension plan, as part of the Pension Investment Committee's periodic portfolio rebalancing process. Shares were repurchased by the company at the prevailing market rate authorized and agreed to by a third-party independent fiduciary for the plan.

On August 5, 2021, Corteva, Inc. announced that its Board of Directors authorized a $1.5 billion share repurchase program to purchase Corteva, Inc.'s common stock, par value $0.01 per share, without an expiration date ("2021 Share Buyback Plan"). The company completed the 2021 Share Buyback Plan during the first quarter of 2023 and repurchased and retired 4,098,000, 17,425,000 and 5,572,000 shares in the open market for a total cost of $250 million, $1 billion and $250 million during the years ended December 31, 2023, 2022 and 2021, respectively.

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Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Shares repurchased pursuant to Corteva's share buyback plans are immediately retired upon repurchase. Repurchased common stock is reflected as a reduction of stockholders' equity. The company's accounting policy related to its share repurchases is to reduce its common stock based on the par value of the shares and to reduce its retained earnings for the excess of the repurchase price over the par value. When Corteva has an accumulated deficit balance, the excess over the par value is applied to additional paid-in capital ("APIC"). When Corteva has retained earnings, the excess is charged entirely to retained earnings.

Noncontrolling Interest

Corteva, Inc. owns 100 percent of the outstanding common shares of EIDP. However, EIDP has preferred stock outstanding to third parties which is accounted for as a non-controlling interest in Corteva's Consolidated Balance Sheets. Each share of EIDP Preferred Stock - $4.50 Series and EIDP Preferred Stock - $3.50 Series issued and outstanding at the effective date of the Corteva Distribution remains issued and outstanding as to EIDP and was unaffected by the Corteva Distribution.

Below is a summary of the EIDP Preferred Stock at December 31, 2025 and 2024 which is classified as noncontrolling interests in the Corteva Consolidated Balance Sheets.

(Shares in thousands)			Number of Shares
Authorized			23,000
$4.50 Series, callable at $120			1,673
$3.50 Series, callable at $102			700

Other Comprehensive Income (Loss)

The changes and after-tax balances of components comprising accumulated other comprehensive income (loss) are summarized below:

(In millions)			Cumulative Translation Adjustment****1			Derivative Instruments			Pension Benefit Plans			Other Benefit Plans			Unrealized Gain (Loss) on Investments			Total
2023
Balance at January 1, 2023			$	(2,883)		$	80		$	(163)		$	160		$	—		$	(2,806)
Other comprehensive income (loss) before reclassifications			425			(123)			(188)			38			—			152
Amounts reclassified from accumulated other comprehensive income (loss)			—			(12)			(2)			(9)			—			(23)
Net other comprehensive income (loss)			$	425		$	(135)		$	(190)		$	29		$	—		$	129
Balance at December 31, 2023			$	(2,458)		$	(55)		$	(353)		$	189		$	—		$	(2,677)
2024
Other comprehensive income (loss) before reclassifications			(1,014)			27			127			40			(6)			(826)
Amounts reclassified from accumulated other comprehensive income (loss)			—			44			—			(10)			—			34
Net other comprehensive income (loss)			$	(1,014)		$	71		$	127		$	30		$	(6)		$	(792)
Balance at December 31, 2024			$	(3,472)		$	16		$	(226)		$	219		$	(6)		$	(3,469)
2025
Other comprehensive income (loss) before reclassifications			867			(65)			(149)			(12)			6			647
Amounts reclassified from accumulated other comprehensive income (loss)			—			42			(3)			(14)			—			25
Net other comprehensive income (loss)			$	867		$	(23)		$	(152)		$	(26)		$	6		$	672
Balance at December 31, 2025			$	(2,605)		$	(7)		$	(378)		$	193		$	—		$	(2,797)

1.The cumulative translation adjustment gain for the year ended December 31, 2025 was primarily driven by the weakening of the U.S. Dollar ("USD") against the Euro ("EUR"), Brazilian Real ("BRL"), South African Rand (“ZAR”) and Mexican Peso ("MXN"). The cumulative translation adjustment loss for the year ended December 31, 2024 was primarily driven by the strengthening of the U.S. Dollar against the Brazilian Real, Euro, Swiss Franc ("CHF") and Mexican Peso. The cumulative translation adjustment gain for the year ended December 31, 2023 was primarily driven by the weakening of the U.S. Dollar against the Swiss Franc, Brazilian Real and Euro.

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Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

The tax (expense) benefit on the net activity related to each component of other comprehensive income (loss) was as follows:

			For the Year Ended December 31,
(In millions)			2025			2024			2023
Derivative instruments			$	(5)		$	(12)		$	50
Pension benefit plans - net			51			(35)			60
Other benefit plans - net			7			(8)			(9)
Unrealized gains (losses) on investments			—			—			—
(Provision for) benefit from income taxes related to other comprehensive income (loss) items			$	53		$	(55)		$	101

A summary of the reclassifications out of accumulated other comprehensive income (loss) is provided as follows:

(In millions)			For the Year Ended December 31,
			2025			2024			2023
Derivative instruments: 1			$	66		$	65		$	(8)
Tax (benefit) expense 2			(24)			(21)			(4)
After-tax			$	42		$	44		$	(12)
Amortization of pension benefit plans:
Prior service (benefit) cost 3,4			$	(4)		$	(4)		$	(3)
Actuarial (gains) losses 3,4			—			1			—
Settlement (gain) loss 3,4			—			2			—
Total before tax			$	(4)		$	(1)		$	(3)
Tax (benefit) expense 2			1			1			1
After-tax			$	(3)		$	—		$	(2)
Amortization of other benefit plans:
Prior service (benefit) cost 3,4			$	(1)		$	(1)		$	(2)
Actuarial (gains) losses 3,4			(17)			(13)			(10)
Total before tax			$	(18)		$	(14)		$	(12)
Tax (benefit) expense 2			4			4			3
After-tax			$	(14)		$	(10)		$	(9)
Total reclassifications for the period, after-tax			$	25		$	34		$	(23)

1.Reflected in cost of goods sold in the Consolidated Statements of Operations.

2.Reflected in provision for (benefit from) income taxes from continuing operations in the Consolidated Statements of Operations.

3.These accumulated other comprehensive income (loss) components are included in the computation of net periodic benefit (credit) cost of the company's pension and other benefit plans. See Note 17 - Pension Plans and Other Post-Employment Benefits, to the Consolidated Financial Statements, for additional information.

4.Reflected in other income (expense) - net in the Consolidated Statements of Operations.

NOTE 17 - PENSION PLANS AND OTHER POST-EMPLOYMENT BENEFITS

The company offers various long-term benefits to its employees. Where permitted by applicable law, the company reserves the right to change, modify or discontinue the plans.

Defined Benefit Pension Plans

The company has both funded and unfunded noncontributory defined benefit pension plans covering employees in the U.S. and non-U.S. countries. The principal U.S. pension plan is the largest pension plan held by Corteva. Effective January 1, 2007, most new hires were no longer eligible to participate in the U.S. defined benefit pension plans. On November 30, 2018, the company froze the pay and service amounts used to calculate the pension benefits for active employees who participate in the pension plan. As a result, no participants are currently accruing additional benefits in the pension plan.

The company's funding policy is consistent with the funding requirements of federal laws and regulations. Pension coverage for employees of the company's non-U.S. consolidated subsidiaries is provided, to the extent deemed appropriate, through separate

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Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

plans. Obligations under such plans are funded by depositing funds with trustees, covered by insurance contracts, or remain unfunded.

The company made total contributions of $40 million, $50 million and $52 million to its pension plans other than the principal U.S. pension plan for the years ended December 31, 2025, 2024 and 2023, respectively. Corteva expects to contribute approximately $40 million to its pension plans other than the principal U.S. pension plan in 2026. In planning for the Proposed Separation, including the future capital structures of the two new companies, the company expects to evaluate discretionary contributions to its principal U.S. pension plan in 2026.

The weighted-average assumptions used to determine pension plan obligations for all pension plans are summarized in the table below:

Weighted-Average Assumptions used to Determine Benefit Obligations			December 31, 2025			December 31, 2024
Discount rate			5.31		%	5.59		%
Rate of increase in future compensation levels 1			2.82		%	2.87		%

1.The rate of compensation increase excludes U.S. pension plans since the employees who participate in the U.S. pension plans no longer accrue additional benefits for future service and eligible compensation.

The weighted-average assumptions used to determine net periodic benefit costs for all pension plans are summarized in the table below:

Weighted-Average Assumptions used to Determine Net Periodic Benefit Cost			For the Year Ended December 31,
2025			2024			2023
Discount rate			5.59		%	4.97		%	5.17		%
Rate of increase in future compensation levels 1			2.87		%	2.87		%	2.83		%
Expected long-term rate of return on plan assets			4.56		%	4.57		%	4.55		%

1.The rate of compensation increase excludes U.S. pension plans since the employees who participate in the U.S. pension plans no longer accrue additional benefits for future service and eligible compensation.

Other Post-Employment Benefits

The company has historically provided medical, dental and life insurance benefits to certain pensioners and survivors. The majority of U.S. employees hired on or after January 1, 2007, and eligible employees under the age of 50 as of November 30, 2018, are not eligible to participate in the post-employment medical, dental and life insurance plans. Substantially all of the cost and liabilities for these retiree benefit plans are attributable to the U.S. benefit plans. The non-Medicare eligible retiree medical plan is contributory with costs shared between the company and pensioners and survivors. For Medicare eligible pensioners and survivors, Corteva provides a company-funded Health Reimbursement Arrangement ("HRA"). In December 2020, the company amended its retiree medical, dental and life insurance plans to no longer provide retiree dental and life insurance benefits effective January 1, 2022 and to cap Corteva’s portion of the cost of non-Medicare retiree medical coverage to the level in effect as of December 31, 2021 ("2020 OPEB Plan Amendments").

The company also provides disability benefits to employees. In most countries, employee disability benefit plans are insured. In the U.S., these plans are generally self-insured. Obligations and expenses for self-insured plans are reflected in the change in projected benefit obligations table on page F-50.

The company's OPEB plans are unfunded and the cost of the approved claims is paid from operating cash flows. Pre-tax cash requirements to cover actual net claims costs and related administrative expenses were $96 million, $101 million, and $97 million for the years ended December 31, 2025, 2024 and 2023, respectively. Changes in cash requirements reflect the net impact of per capita health care costs, demographic changes, plan amendments and changes in participant premiums, co-payments and deductibles. In 2026, the company expects to contribute approximately $100 million for its OPEB plans.

The weighted-average assumptions used to determine benefit obligations for OPEB plans are summarized in the table below:

Weighted-Average Assumptions used to Determine Benefit Obligations			December 31, 2025			December 31, 2024
Discount rate			5.14		%	5.50		%

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Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

The weighted-average assumptions used to determine net periodic benefit costs for the OPEB plans are summarized in the table below:

Weighted-Average Assumptions used to Determine Net Periodic Benefit Cost			For the Year Ended December 31,
2025			2024			2023
Discount rate			5.50		%	4.92		%	5.09		%

As of December 31, 2025, 2024 and 2023, health care cost trend rates do not impact the benefit obligations for the OPEB plans because of the 2020 OPEB Plan Amendments.

Assumptions

For the U.S. plan, the company establishes strategic asset allocation percentage targets and appropriate benchmarks for significant asset classes with the aim of achieving a prudent balance between return and risk. Where appropriate, asset-liability studies are also taken into consideration. The expected long-term rate of return on plan assets is based upon historical real returns (net of inflation) for the asset classes covered by the investment policy, expected performance, and projections of inflation and interest rates over the long-term period during which benefits are payable to plan participants. For non-U.S. plans, assumptions reflect economic assumptions applicable to each country.

In the U.S., Corteva calculates service costs and interest costs by applying individual spot rates from a yield curve (based on high-quality corporate bond yields) to the separate expected cash flows components of service cost and interest cost. Service cost and interest cost for all other plans are determined based on the single equivalent discount rates derived in determining those plan obligations.

For U.S. benefit plans, the discount rates utilized to measure the pension and other post-employment benefit obligations are based on the yield of high-quality corporate fixed income investments at the measurement date. Future expected actuarially determined cash flows are individually discounted at the spot rates under the Aon AA_Above Median yield curve (based on high-quality corporate bond yields) to arrive at the plan’s obligations as of the measurement date. For non-U.S. benefit plans, historically the company utilized prevailing long-term high quality corporate bond indices to determine the discount rate, applicable to each country, at the measurement date.

The company adopts the most recently published mortality tables and mortality improvement scale released by the Society of Actuaries in measuring its U.S. pension and other post-employment benefit obligations. The effect of these adoptions is amortized into net periodic benefit cost for the years following the adoption.

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Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Summarized information on the company's pension and other post-employment benefit plans is as follows:

Change in Projected Benefit Obligations, Plan Assets and Funded Status
			Defined Benefit Pension Plans									Other Post-Employment Benefits
(In millions)			For the Year Ended December 31,									For the Year Ended December 31,
2025			2024						2025			2024
Change in benefit obligations:
Benefit obligation at beginning of the period			$	12,222		$	13,440					$	812		$	925
Service cost			13			16						—			—
Interest cost			627			648						40			42
Plan participants' contributions			1			2						16			18
Actuarial (gain) loss			383			(580)						15			(51)
Benefits paid			(1,228)			(1,241)						(112)			(120)
Plan amendments			1			—						—			(1)
New plans/merger			1			—						—			—
Effect of foreign exchange rates			37			(63)						1			(1)
Benefit obligations at end of the period			$	12,057		$	12,222					$	772		$	812
Change in plan assets:
Fair value of plan assets at beginning of the period			$	10,630		$	11,755					$	—		$	—
Actual return on plan assets			805			116						—			—
Employer contributions			40			50						96			101
Plan participants' contributions			1			2						16			18
Benefits paid			(1,228)			(1,241)						(112)			(120)
Effect of foreign exchange rates			27			(52)						—			1
Fair value of plan assets at end of the period			$	10,275		$	10,630					$	—		$	—
Funded status
U.S. plan with plan assets			$	(1,463)		$	(1,268)					$	—		$	—
Non-U.S. plans with plan assets			(32)			(41)						—			—
All other plans 1,2			(287)			(283)						(772)			(812)
Funded status at end of the period			$	(1,782)		$	(1,592)					$	(772)		$	(812)

1.As of December 31, 2025 and 2024, $112 million and $131 million, respectively, of the benefit obligations are supported by funding under the Trust agreement, defined in the "Trust Assets" section below.

2.Includes pension plans maintained around the world where funding is not customary.

			Defined Benefit Pension Plans						Other Post-Employment Benefits
			December 31,						December 31,
(In millions)			2025			2024			2025			2024
Amounts recognized in the Consolidated Balance Sheets:
Other assets			$	10		$	2		$	—		$	—
Accrued and other current liabilities			(32)			(32)			(98)			(103)
Pension and other post-employment benefits			(1,760)			(1,562)			(674)			(709)
Net amount recognized			$	(1,782)		$	(1,592)		$	(772)		$	(812)
Pre-tax amounts recognized in accumulated other comprehensive income (loss):
Net gain (loss)			$	(518)		$	(320)		$	244		$	276
Prior service benefit (cost)			14			17			13			14
Pre-tax balance in accumulated other comprehensive income (loss) at end of year			$	(504)		$	(303)		$	257		$	290

The loss related to the change in pension benefit obligations for the period ended December 31, 2025 is primarily due to the decrease in discount rates, net of asset returns above the expected long-term rate.

F-50

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

The accumulated benefit obligation for all pension plans was $12.0 billion and $12.2 billion at December 31, 2025 and 2024, respectively.

Pension Plans with Projected Benefit Obligations in Excess of Plan Assets			December 31, 2025			December 31, 2024
(In millions)
Projected benefit obligations			$	11,821		$	12,094
Fair value of plan assets			$	10,028		$	10,500

Pension Plans with Accumulated Benefit Obligations in Excess of Plan Assets			December 31, 2025			December 31, 2024
(In millions)
Accumulated benefit obligations			$	11,806		$	11,995
Fair value of plan assets			$	10,027		$	10,414

(In millions)			Defined Benefit Pension Plans												Other Post-Employment Benefits
			For the Year Ended December 31,												For the Year Ended December 31,
Components of net periodic benefit (credit) cost and amounts recognized in other comprehensive income (loss)			2025			2024			2023						2025			2024			2023
Net Periodic Benefit (Credit) Cost:
Service cost			$	13		$	16		$	18					$	—		$	—		$	1
Interest cost			627			648			690						40			42			49
Expected return on plan assets			(622)			(531)			(605)						—			—			—
Amortization of unrecognized loss (gain)			—			1			—						(17)			(13)			(10)
Amortization of prior service (benefit) cost			(4)			(4)			(3)						(1)			(1)			(2)
Settlement loss			—			2			—						—			—			—
Net periodic benefit (credit) cost - Total			$	14		$	132		$	100					$	22		$	28		$	38
Changes in plan assets and benefit obligations recognized in other comprehensive income (loss):
Net gain (loss)			$	(199)		$	164		$	(255)					$	(15)		$	51		$	49
Amortization of unrecognized (gain) loss			—			1			—						(17)			(13)			(10)
Prior service benefit (cost)			(1)			—			—						—			1			—
Amortization of prior service (benefit) cost			(4)			(4)			(3)						(1)			(1)			(2)
Settlement loss			—			2			—						—			—			—
Effect of foreign exchange rates			1			(1)			8						—			—			1
Total benefit (loss) recognized in other comprehensive income (loss), attributable to Corteva			$	(203)		$	162		$	(250)					$	(33)		$	38		$	38
Total recognized in net periodic benefit (credit) cost and other comprehensive income (loss)			$	(217)		$	30		$	(350)					$	(55)		$	10		$	—

Estimated Future Benefit Payments

The estimated future benefit payments, reflecting expected future service, as appropriate, are presented in the following table:

Estimated Future Benefit Payments at December 31, 2025			Defined Benefit Pension Plans			Other Post-Employment Benefits
(In millions)
2026			$	1,199		$	98
2027			1,162			91
2028			1,126			85
2029			1,088			79
2030			1,048			73
Years 2031-2035			4,644			293
Total			$	10,267		$	719

F-51

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Plan Assets

All pension plan assets in the U.S. are invested through a single master trust fund. The general principles guiding U.S. pension asset investment policies are those embodied in the Employee Retirement Income Security Act of 1974 ("ERISA"). These principles include discharging Corteva's investment responsibilities for the exclusive benefit of plan participants and in accordance with the "prudent expert" standard and other ERISA rules and regulations. Corteva establishes strategic asset allocation percentage targets and appropriate benchmarks for significant asset classes with the aim of achieving a prudent balance between return and risk. The strategic asset allocation for this trust fund is approved by the Pension Investment Committee. Strategic asset allocations in other countries are selected in accordance with the laws and practices of those countries. Where appropriate, asset-liability studies are utilized in this process.

U.S. plan assets are managed by investment professionals employed by Corteva, and plan assets for non-U.S. plans are managed by professional investment firms unrelated to the company. Corteva's pension investment professionals have discretion to manage the assets within established asset allocation ranges approved by the Pension Investment Committee. Additionally, pension trust funds are permitted to enter into certain contractual arrangements generally described as "derivatives." Derivatives are primarily used to reduce specific market risks, hedge currency and adjust portfolio duration and asset allocation in a cost-effective manner.

The weighted-average allocation for plan assets of the company's pension plans is summarized as follows:

Allocation for Plan Assets			December 31, 2025			December 31, 2024
Asset Category
U.S. equity securities			8		%	9		%
Non-U.S. equity securities			5			5
Fixed income securities			67			67
Hedge funds			—			—
Private market securities			13			12
Real estate			7			7
Cash and cash equivalents			—			—
Total			100		%	100		%

U.S. equity investments are primarily large-cap companies. Non-U.S. equity securities include varying market capitalization levels. Fixed income securities include corporate-issued, government-issued and asset-backed securities of both U.S. and non-U.S. issuers. Corporate debt investments include a range of credit risk and industry diversification. U.S. fixed income investments are weighted heavier than non-U.S. fixed income securities. Other investments include cash and cash equivalents, hedge funds, real estate and private market securities such as interests in private equity and venture capital partnerships.

Fair value calculations may not be indicative of net realizable value or reflective of future fair values. Furthermore, although the company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.

For pension plan assets classified as Level 1 measurements (measured using quoted prices in active markets), total fair value is either the price of the most recent trade at the time of the market close or the official close price, as defined by the exchange on which the asset is most actively traded on the last trading day of the period, multiplied by the number of units held without consideration of transaction costs.

For pension plan assets classified as Level 2 measurements, where the security is frequently traded in less active markets, fair value is based on the closing price at the end of the period; where the security is less frequently traded, fair value is based on the price a dealer would pay for the security or similar securities, adjusted for any terms specific to that asset or liability. Market inputs are obtained from well-established and recognized vendors of market data and subjected to tolerance and quality checks. For derivative assets and liabilities, standard industry models are used to calculate the fair value of the various financial instruments based on significant observable market inputs, such as foreign exchange rates, commodity prices, swap rates, interest rates and implied volatilities obtained from various market sources.

For pension plan assets classified as Level 3 measurements, total fair value is based on significant unobservable inputs including assumptions where there is little, if any, market activity for the investment. Investment managers, fund managers, or

F-52

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

investment contract issuers provide valuations of the investment on a monthly or quarterly basis. These valuations are reviewed for reasonableness based on applicable sector, benchmark and company performance. Adjustments to valuations are made where appropriate. Where available, audited financial statements are obtained and reviewed for the investments as support for the manager’s investment valuation.

The tables below present the fair values of the company's pension assets by level within the fair value hierarchy, as described in Note 2 - Summary of Significant Accounting Policies, in the Consolidated Financial Statements:

Basis of Fair Value Measurements			Total			Level 1			Level 2			Level 3
For the year ended December 31, 2025
(In millions)
Cash and cash equivalents			$	876		$	876		$	—		$	—
U.S. equity securities 1			837			836			1			—
Non-U.S. equity securities			417			417			—			—
Debt – government-issued			1,540			—			1,540			—
Debt – corporate-issued			3,728			—			3,728			—
Debt – asset-backed			440			—			440			—
Hedge funds			5			—			2			3
Private market securities			5			—			—			5
Real estate funds			4			—			—			4
Other			62			—			—			62
Subtotal			$	7,914		$	2,129		$	5,711		$	74
Investments measured at net asset value
Debt - government issued			$	42
Debt - corporate-issued			3
U.S. equity securities			23
Non-U.S. equity securities			22
Hedge funds			3
Private market securities			1,750
Real estate funds			647
Total investments measured at net asset value			$	2,490
Other items to reconcile to fair value of plan assets
Pension trust receivables 2			79
Pension trust payables 3			(208)
Total			$	10,275

1.The Corteva pension plans directly held no Corteva, Inc. common stock at December 31, 2025.

2.Primarily receivables for investment securities sold.

3.Primarily payables for investment securities purchased.

F-53

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Basis of Fair Value Measurements
For the year ended December 31, 2024
(In millions)			Total			Level 1			Level 2			Level 3
Cash and cash equivalents			$	1,030		$	1,030		$	—		$	—
U.S. equity securities 1			1,030			1,026			1			3
Non-U.S. equity securities			389			388			—			1
Debt – government-issued			1,628			—			1,628			—
Debt – corporate-issued			3,540			—			3,540			—
Debt – asset-backed			590			—			590			—
Hedge funds			5			—			2			3
Private market securities			3			—			—			3
Real estate funds			101			—			—			101
Other			51			—			—			51
Subtotal			$	8,367		$	2,444		$	5,761		$	162
Investments measured at net asset value
Debt - government issued			$	39
Debt - corporate-issued			3
U.S. equity securities			21
Non-U.S. equity securities			20
Hedge funds			11
Private market securities			1,810
Real estate funds			642
Total investments measured at net asset value			$	2,546
Other items to reconcile to fair value of plan assets
Pension trust receivables 2			79
Pension trust payables 3			(362)
Total			$	10,630

1.The Corteva pension plans directly held $132 million (approximately 1 percent of total plan assets) of Corteva, Inc. common stock at December 31, 2024.

2.Primarily receivables for investments securities sold.

3.Primarily payables for investment securities purchased.

F-54

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

The following table summarizes the changes in fair value of Level 3 pension plan assets for the years ended December 31, 2025 and 2024:

Fair Value Measurement of Level 3 Pension Plan Assets			U.S. equity securities			Non-U.S. equity securities			Debt – corporate-issued			Hedge funds			Private market securities			Real estate funds			Other			Total
(In millions)
Balance at January 1, 2024			$	1		$	2		$	2		$	3		$	6		$	52		$	55		$	121
Actual return on assets:
Relating to assets sold during the year ended December 31, 2024			—			3			(14)			—			—			—			—			(11)
Relating to assets held at December 31, 2024			2			—			14			—			(3)			(68)			(2)			(57)
Purchases, sales and settlements, net			—			(4)			—			—			—			1			(2)			(5)
Transfers in or out of Level 3, net			—			—			(2)			—			—			116			—			114
Balance at December 31, 2024			$	3		$	1		$	—		$	3		$	3		$	101		$	51		$	162
Actual return on assets:
Relating to assets sold during the year ended December 31, 2025			(1)			(1)			—			—			—			—			—			(2)
Relating to assets held at December 31, 2025			1			—			—			—			2			(3)			9			9
Purchases, sales and settlements, net			(3)			—			—			—			—			—			2			(1)
Transfers in or out of Level 3, net			—			—			—			—			—			(94)			—			(94)
Balance at December 31, 2025			$	—		$	—		$	—		$	3		$	5		$	4		$	62		$	74

Trust Assets

EIDP entered into a trust agreement in 2013 (as amended and restated in 2017, "the Trust") that established and requires EIDP to fund the Trust for cash obligations under certain non-qualified benefit and deferred compensation plans upon a change in control event as defined in the Trust agreement. Under the Trust agreement, the consummation of the Merger was a change in control event and resulted in a contribution to the Trust by EIDP. Additionally, the Corteva Separation resulted in Corteva transferring a portion of the balance of the Trust to DuPont at the Corteva Separation date. During the years ended December 31, 2025 and 2024, $37 million and $48 million, respectively, was distributed by EIDP according to the Trust agreement, and at December 31, 2025 and 2024, the balance in the Trust was $147 million and $176 million, respectively. The Trust Assets are classified as current restricted cash equivalents and included within other current assets in the Consolidated Balance Sheets. See Note 6 - Supplementary Information, to the Consolidated Financial Statements, for further information.

Defined Contribution Plans

Corteva provides defined contribution benefits to its employees. The most significant is the U.S. Retirement Savings Plan ("the Plan"), which covers almost all of the U.S. full-service employees. This Plan includes a non-leveraged Employee Stock Ownership Plan ("ESOP"). Employees are not required to participate in the ESOP and those who do are free to diversify out of the ESOP. The purpose of the Plan is to provide retirement savings benefits for employees and to provide employees an opportunity to become stockholders of the company. The Plan is a tax qualified contributory profit sharing plan, with cash or deferred arrangement and any eligible employee of Corteva may participate. Currently, Corteva contributes 100 percent of the first six percent of the employee's contribution election and also contributes three percent of each eligible employee's eligible compensation regardless of the employee's contribution.

Corteva's contributions to the Plan were $99 million, $100 million and $101 million for the years ended December 31, 2025, 2024 and 2023, respectively. Corteva's matching contributions vest immediately upon contribution. The three percent nonmatching company contribution vests after employees complete three years of service. In addition, Corteva made contributions to other defined contribution plans of $51 million, $46 million and $45 million for the years ended December 31, 2025, 2024 and 2023, respectively.

F-55

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

NOTE 18 - STOCK-BASED COMPENSATION

Prior to the Corteva Separation, Corteva employees held equity awards, including stock options, share appreciation rights (“SARs”), restricted stock units (“RSUs”) and performance-based restricted stock units (“PSUs”), which were denominated in DowDuPont common stock and, in some cases, in Dow Inc. common stock, and which had originally been issued under the DuPont Equity and Incentive Plan ("EIP"), the Dow Chemical Company 2012 Stock Incentive Plan or the Dow Chemical Company 1988 Award and Option Plan.

As discussed in Note 15 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements, on April 1, 2019 the company entered into an Employee Matters Agreement (the "EMA") with DuPont and Dow that identifies employees and employee-related liabilities (and attributable assets) to be allocated (either retained, transferred and accepted, or assigned and assumed, as applicable) to the Parties as part of the Distributions and describes when and how the relevant transfers and assignments were to occur. With some exceptions, the EMA provides for the equitable adjustment of existing equity incentive compensation awards denominated in the common stock of DowDuPont to reflect the occurrence of the Distributions.

In connection with the Corteva Separation on June 1, 2019, outstanding DowDuPont-denominated stock options, SARs, RSU and PSU awards were converted into Corteva-denominated awards under the “Employer Method,” or into both DuPont-denominated awards and Corteva-denominated awards under the “Shareholder Method,” using a formula designed to preserve the intrinsic value of the awards immediately prior to and subsequent to the Corteva Separation. The awards have the same terms and conditions under the applicable plans and award agreements prior to the Corteva Separation transactions. The conversions of equity awards did not have a material impact on the company’s Consolidated Financial Statements.

On June 1, 2019 (“Adoption Date”), in connection with the Corteva Separation, the Omnibus Incentive Plan (the "OIP") became effective. Under the OIP, the company may grant incentive awards, including stock options (both “incentive stock options” and nonqualified stock options), share appreciation rights, restricted shares, restricted stock units, other share-based awards and cash awards, to its and its subsidiaries’ eligible employees, non-employee directors, independent contractors and consultants following the Corteva Separation until the tenth anniversary of the Adoption Date, subject to an aggregate limit and annual individual limits. Under the OIP, the maximum number of shares reserved for the grant or settlement of awards is 20 million shares, excluding shares underlying certain exempt awards, such as the awards converted to Corteva-denominated awards pursuant to the Corteva Separation. At December 31, 2025, approximately 8 million shares were authorized for future grants under the OIP. The company generally satisfies stock option exercises and the vesting of RSUs and PSUs with newly issued shares of Corteva common stock, although RSU awards granted under Historical Dow plans in certain countries are settled in cash.

The Board of Directors' Compensation Committee determines the long-term incentive mix, including stock options, RSUs and PSUs and may authorize new grants annually. The company estimates expected forfeitures.

The total stock-based compensation cost included in income (loss) from continuing operations before income taxes within the Consolidated Statement of Operations was $78 million, $64 million and $54 million for the years ended December 31, 2025, 2024 and 2023, respectively. The income tax benefits related to stock-based compensation arrangements were $(15) million, $(12) million and $(10) million for the years ended December 31, 2025, 2024 and 2023, respectively.

Stock Options

The exercise price of shares subject to option is equal to the market price of the company's common stock on the date of grant. All options vest serially over a period of three years. Stock option awards granted under the EIP (previous plan) between 2016 and May 2019 and the OIP between June 2019 and December 31, 2025 expire 10 years after the grant date.

To measure the fair value of the awards on the date of grant, the company uses the Black-Scholes option pricing model and the assumptions set forth in the table below. The weighted-average grant-date fair value of options granted for the years ended December 31, 2025, 2024 and 2023 was $23.83, $18.80 and $21.42, respectively.

Weighted-Average Assumptions			For the Year ended December 31,
2025			2024			2023
Dividend yield			1.05		%	1.18		%	0.96		%
Expected volatility			34.09		%	32.17		%	31.07		%
Risk-free interest rate			4.4		%	4.2		%	4.1		%
Expected life of stock options granted during period (years)			6.0			6.0			6.0

F-56

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

The company determined the dividend yield by dividing the annualized dividend on Corteva’s common stock by the option exercise price. A historical daily measurement of volatility is determined based on the expected life of the option granted. For the year ended December 31, 2025, the measurement of volatility is based on the historical volatility of Corteva. For the years ended December 31, 2024, and 2023, the measurement of volatility is based on the average volatility of eight of Corteva's peer companies. Corteva's peer volatility is based on the historical volatility of each business respectively. The risk-free interest rate is determined by reference to the yield on an outstanding U.S. Treasury note with a term equal to the expected life of the option granted. Expected life is determined by utilizing the simplified method for estimating expected term.

The following table summarizes stock option activity for the year ended December 31, 2025:

Stock Options			For the Year Ended December 31, 2025
			Number of Shares (in thousands)			Weighted Average Exercise Price (per share)			Weighted Average Remaining Contractual Term (in years)			Aggregate Intrinsic Value (in thousands)
Outstanding at January 1, 2025			3,257			$	43.97		4.46			$	43,761
Granted			288			64.70
Exercised			(1,606)			40.40
Forfeited/Expired			(58)			58.31
Outstanding at December 31, 2025			1,881			$	49.74		5.08			$	32,565
Exercisable at December 31, 2025			1,299			$	44.95		3.70			$	28,689

The aggregate intrinsic values in the table above represent the total pre-tax intrinsic value (the difference between the closing stock price on the last trading day of the period ended December 31, 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 period end. The total intrinsic value of options exercised for the years ended December 31, 2025, 2024 and 2023 were $42 million, $20 million, and $14 million, respectively. The company recognized tax benefits from options exercised for the years ended December 31, 2025, 2024 and 2023 of $(8) million, $(4) million and $(3) million, respectively.

As of December 31, 2025, $7 million of total unrecognized pre-tax compensation expense related to nonvested stock options is expected to be recognized over a weighted-average period of about 1.14 years.

Restricted Stock Units and Performance Share Units

RSUs granted serially vest over three years. Upon vesting, these RSUs convert one-for-one to Corteva Common Stock. A retirement-eligible employee retains any granted awards upon retirement for one year provided the employee has rendered at least six months of service following the grant date. Additional RSUs are also granted periodically to key senior management employees. These RSUs generally vest over periods ranging from three years to five years. The fair value of all stock-settled RSUs is based upon the market price of the underlying common stock as of the grant date.

The company grants PSUs to senior leadership. In 2025, there were 292,890 PSUs granted. Vesting for PSUs granted in 2025, 2024 and 2023 is partially based on the realization of the company’s improvement of its Return on Net Assets (“RONA”) and Operating Earnings Per Share ("EPS") during the Performance Period. Performance and payouts are determined independently for each metric. The actual award, delivered in Corteva common stock, can range from zero percent to 200 percent of the original grant. The weighted-average grant date fair value of the PSUs granted in 2025 of $64.71 was based upon the market price of the underlying common stock as of the grant date.

F-57

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Nonvested awards of RSUs and PSUs are shown below.

RSUs and PSUs			For the Year Ended December 31, 2025
			Number of Shares (in thousands)			Weighted Average Grant Date Fair Value (per share)
Nonvested at January 1, 2025			3,643			$	55.12
Granted			1,344			64.49
Vested			(1,352)			53.99
Forfeited			(272)			58.04
Nonvested at December 31, 2025			3,363			$	59.10

The total fair value of stock units vested for the years ended December 31, 2025, 2024 and 2023 was $73 million, $63 million and $58 million, respectively. The weighted-average grant-date fair value of stock units granted for the years ended December 31, 2025, 2024 and 2023 was $64.49, $54.56 and $62.22, respectively.

As of December 31, 2025, $65 million of total unrecognized pre-tax compensation expense related to RSUs and PSUs is expected to be recognized over a weighted average period of 1.07 years.

NOTE 19 - FINANCIAL INSTRUMENTS

Time Deposits and Money Market Funds

At December 31, 2025 and 2024, the company held investments in held-to-maturity securities at amortized cost, which approximates fair value. At these periods, the company held additional held-to-maturity securities, as well as available-for-sale securities, consisting of investments in foreign government bonds which are discussed further in the "Debt Securities" section. Reclassifications of prior year held-to-maturity balances have been made in the current year to disaggregate between those that are time deposits and foreign government bonds.

The following table summarizes investments in time deposits and money market funds classified as held-to-maturity securities at December 31, 2025 and 2024:

Held-to-Maturity Securities						Amortized Cost
(in millions)			Balance Sheet Location			December 31, 2025			December 31, 2024
Time deposits and money market funds			Cash equivalents 1			$	3,431		$	2,179
Time deposits			Marketable securities 2			$	1		$	8

1.Maturity at time of purchase was three months or less.

2.Maturity at time of purchase was more than three months to less than one year.

Derivative Instruments

Objectives and Strategies for Holding Derivative Instruments

In the ordinary course of business, the company enters into contractual arrangements (derivatives) to reduce its exposure to foreign currency and commodity price risks. The company has established a variety of derivative programs to be utilized for financial risk management. These programs reflect varying levels of exposure coverage and time horizons based on an assessment of risk.

Derivative programs have procedures and controls and are approved by the Corporate Financial Risk Management Committee, consistent with the company's financial risk management policies and guidelines. Derivative instruments used are forwards, options, futures and swaps. The company has not designated any non-derivatives as hedging instruments.

The company's financial risk management procedures also address counterparty credit approval, limits and routine exposure monitoring and reporting. The counterparties to these contractual arrangements are major financial institutions and major commodity exchanges, and multinational grain exporters. The company is exposed to credit losses in the event of nonperformance by these counterparties. The company utilizes collateral support annex agreements with certain counterparties to limit its exposure to credit losses. The company anticipates performance by counterparties to these contracts and therefore no material loss is expected. Market and counterparty credit risks associated with these instruments are regularly reported to management.

The aggregate notional amounts for the company's derivative instruments that are designated and not designated as hedging instruments was a net buy (sell) position of $1,280 million and $(1,056) million at December 31, 2025 and 2024, respectively.

F-58

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Foreign Currency Risk

The company's objective in managing exposure to foreign currency fluctuations is to reduce earnings and cash flow volatility associated with foreign currency rate changes and to mitigate the exposure of certain investments in foreign subsidiaries against

changes in the Euro/USD exchange rate. Accordingly, the company enters into various contracts that change in value as foreign

exchange rates change to protect the value of its existing foreign currency-denominated assets, liabilities, commitments, investments and cash flows.

The company uses foreign currency exchange contracts to offset its net exposures, by currency, related to the foreign currency denominated monetary assets and liabilities of its operations. The primary business objective of this hedging program is to maintain an approximately balanced position in foreign currencies so that exchange gains and losses resulting from exchange rate changes, after related tax effects, are minimized. The company also uses foreign currency exchange contracts to offset a portion of the company's exposure to certain forecasted transactions as well as the translation of foreign currency-denominated earnings. The company also uses commodity contracts to offset risks associated with foreign currency devaluation in certain countries.

Commodity Price Risk

Commodity price risk management programs serve to reduce exposure to price fluctuations on purchases of inventory such as corn and soybeans. The company enters into over-the-counter and exchange-traded derivative commodity instruments to hedge the commodity price risk associated with agricultural commodity exposures.

Derivatives Designated as Cash Flow Hedges

Commodity Contracts

The company enters into over-the-counter and exchange-traded derivative commodity instruments, including options, futures and swaps, to hedge the commodity price risk associated with agriculture commodity exposures.

While each risk management program has a different time maturity period, most programs currently do not extend beyond the next two years. Cash flow hedge results are reclassified into earnings during the same period in which the related exposure impacts earnings. Reclassifications are made sooner if it appears that a forecasted transaction is not probable of occurring.

The following table summarizes the after-tax effect of commodity contract cash flow hedges on accumulated other comprehensive income (loss):

			For the Year Ended December 31,
(In millions)			2025			2024			2023
Beginning balance			$	(49)		$	(71)		$	55
Additions and revaluations of derivatives designated as cash flow hedges			3			(29)			(87)
Clearance of hedge results to earnings			55			51			(39)
Ending balance			$	9		$	(49)		$	(71)

At December 31, 2025, an after-tax net gain of $19 million is expected to be reclassified from accumulated other comprehensive income (loss) into earnings over the next twelve months.

Foreign Currency Contracts

The company enters into forward contracts to hedge the foreign currency risk associated with forecasted transactions within certain foreign subsidiaries.

While each risk management program has a different time maturity period, most programs currently do not extend beyond the next two years. Cash flow hedge results are reclassified into earnings during the same period in which the related exposure impacts earnings. Reclassifications are made sooner if it appears that a forecasted transaction is not probable of occurring.

F-59

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

The following table summarizes the after-tax effect of foreign currency cash flow hedges on accumulated other comprehensive

income (loss):

(In millions)												For the Year Ended December 31,
2025			2024			2023
Beginning balance												$	13		$	1		$	10
Additions and revaluations of derivatives designated as cash flow hedges												5			19			(36)
Clearance of hedges results to earnings												(13)			(7)			27
Ending balance												$	5		$	13		$	1

At December 31, 2025, an after-tax net gain of $5 million is expected to be reclassified from accumulated other comprehensive income (loss) into earnings over the next twelve months.

Derivatives Designated as Net Investment Hedges

Foreign Currency Contracts

In March 2025, the company designated €1.7 billion of forward contracts to exchange Euro as net investment hedges. Of these hedges, €1.2 billion expired and were settled in May 2025, while the remaining €500 million expired and were settled in December 2025. The purpose of these forward contracts was to mitigate foreign exchange exposure related to a portion of the company’s Euro net investments in certain foreign subsidiaries against changes in EUR/USD exchange rates.

In May 2024, the company designated €500 million of forward contracts to exchange Euro as net investment hedges. An additional tranche of €500 million of forward contracts to exchange Euro were executed in July 2024 and also designated as net investment hedges. These hedges expired and were settled in December 2024. The company had previously designated €1.2 billion and €450 million of forward contracts to exchange Euro as net investment hedges, which expired and were settled in May 2024 and March 2023, respectively.

Prior to maturity, the company had elected to apply the spot method in testing for effectiveness of the hedging relationship.

Derivatives not Designated in Hedging Relationships

Foreign Currency Contracts

The company uses foreign exchange contracts to reduce its net exposure, by currency, related to foreign currency-denominated monetary assets and liabilities of its operations so that exchange gains and losses resulting from exchange rate changes are minimized. The netting of such exposures precludes the use of hedge accounting; however, the required revaluation of the forward contracts and the associated foreign currency-denominated monetary assets and liabilities intends to achieve a minimal earnings impact, after taxes. The company also uses foreign currency exchange contracts to offset a portion of the company’s exposure to the translation of certain foreign currency-denominated earnings so that gains and losses on the contracts offset changes in the USD value of the related foreign currency-denominated earnings over the relevant aggregate period.

Commodity Contracts

The company utilizes options, futures and swaps that are not designated as hedging instruments to reduce exposure to commodity price fluctuations on purchases of inventory such as corn and soybeans. The company uses commodity contracts to offset a portion of the company’s exposure to commodity price fluctuations so that gains and losses on the contracts offset changes in the commodity price over the relevant aggregate period. The company uses forward agreements, with durations less than one year, to buy and sell USD priced commodities in order to reduce its exposure to currency devaluation for a portion of its local currency cash balances. Counterparties to the forward sales agreements are multinational grain exporters and subject to the company’s financial risk management procedures.

Fair Value of Derivative Instruments

Asset and liability derivatives subject to an enforceable master netting arrangement with the same counterparty are presented on a net basis in the Consolidated Balance Sheets.

F-60

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

The presentation of the company's derivative assets and liabilities is as follows:

						December 31, 2025
(In millions)			Balance Sheet Location			Gross			Counterparty and Cash Collateral Netting 1			Net Amounts Included in the Consolidated Balance Sheet
Asset derivatives:
Derivatives designated as hedging instruments:
Foreign currency contracts			Other current assets			$	5		$	—		$	5
Commodity contracts			Other current assets			1			—			1
Derivatives not designated as hedging instruments:
Foreign currency contracts			Other current assets			23			(21)			2
Commodity contracts			Other current assets			3			—			3
Total asset derivatives						$	32		$	(21)		$	11
Liability derivatives:
Derivatives designated as hedging instruments:
Foreign currency contracts			Accrued and other current liabilities			$	1		$	—		$	1
Commodity contracts			Accrued and other current liabilities			3			—			3
Derivatives not designated as hedging instruments:
Foreign currency contracts			Accrued and other current liabilities			40			(21)			19
Commodity contracts			Accrued and other current liabilities			6			—			6
Total liability derivatives						$	50		$	(21)		$	29

						December 31, 2024
(In millions)			Balance Sheet Location			Gross			Counterparty and Cash Collateral Netting 1			Net Amounts Included in the Consolidated Balance Sheet
Asset derivatives:
Derivatives designated as hedging instruments:
Foreign currency contracts			Other current assets			$	—		$	—		$	—
Commodity contracts			Other current assets			8			—			8
Derivatives not designated as hedging instruments:
Foreign currency contracts			Other current assets			71			(45)			26
Commodity contracts			Other current assets			12			—			12
Total asset derivatives						$	91		$	(45)		$	46
Liability derivatives:
Derivatives designated as hedging instruments:
Foreign currency contracts			Accrued and other current liabilities			$	—		$	—		$	—
Commodity contracts			Accrued and other current liabilities			2			—			2
Derivatives not designated as hedging instruments:
Foreign currency contracts			Accrued and other current liabilities			104			(45)			59
Commodity contracts			Accrued and other current liabilities			5			—			5
Total liability derivatives						$	111		$	(45)		$	66

1. Counterparty and cash collateral amounts represent the estimated net settlement amount when applying netting and set-off rights included in master netting arrangements between the company and its counterparties and the payable or receivable for cash collateral held or placed with the same counterparty.

F-61

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Effect of Derivative Instruments

			Amount of Gain (Loss) Recognized in OCI 1 - Pre-Tax
For the Year Ended December 31,
(In millions)			2025			2024			2023
Derivatives designated as hedging instruments:
Net investment hedges:
Foreign currency contracts			$	(94)		$	48		$	—
Cash flow hedges:
Foreign currency contracts			5			29			(54)
Commodity contracts			5			(59)			(123)
Total derivatives designated as hedging instruments			$	(84)		$	18		$	(177)

1.OCI is defined as other comprehensive income (loss).

(in millions)			Amount of Gain (Loss) Recognized in Income - Pre-Tax 1
For the Year Ended December 31,
			2025			2024			2023
Derivatives designated as hedging instruments:
Cash flow hedges:
Foreign currency contracts 2			$	6		$	9		$	(41)
Commodity contracts 2			(72)			(74)			49
Total derivatives designated as hedging instruments			(66)			(65)			8
Derivatives not designated as hedging instruments:
Foreign currency contracts 3			73			(130)			(28)
Foreign currency contracts 2			(103)			23			(77)
Commodity contracts 2,4			—			(34)			(20)
Commodity contracts 3			—			(2)			2
Total derivatives not designated as hedging instruments			(30)			(143)			(123)
Total derivatives			$	(96)		$	(208)		$	(115)

1.For cash flow hedges, this represents the portion of the gain (loss) reclassified from accumulated OCI into income during the period.

2.Recorded in cost of goods sold, in the Consolidated Statement of Operations.

3.Recognized in other income (expense) - net, in the Consolidated Statement of Operations. Note that the net loss from foreign currency contracts was partially offset by the related gain on the foreign currency-denominated monetary assets and liabilities of the company's operations. See Note 6 - Supplementary Information, to the Consolidated Financial Statements for additional information.

4.The net gain (loss) relating to commodity contracts that are not designated as hedging instruments that were recorded in cost of goods sold, in the Consolidated Statement of Operations, are mostly offset by the related net gain (loss) on third-party grower contracts denominated as liabilities.

Debt Securities

At December 31, 2025 and 2024, the company held investments in held-to-maturity debt securities consisting of foreign government bonds. The company's investments in held-to-maturity securities are held at amortized cost, which approximates fair value. These foreign government bonds are held by certain foreign subsidiaries in which the USD is the functional currency.

Held-to-Maturity Securities						Amortized Cost
(in millions)			Balance Sheet Location			December 31, 2025			December 31, 2024
Foreign government bonds			Marketable securities 1			$	—		$	55

1.Maturity at time of purchase was more than three months to less than one year.

The company also held debt securities, which consisted of foreign government bonds classified as available-for-sale securities, at December 31, 2025 and 2024. The company's investments in available-for-sale securities are recorded at fair value with unrealized gains and losses recorded in accumulated other comprehensive income (loss), within the Consolidated Statements of Equity, or current period earnings if an allowance for credit losses has been established, within the Consolidated Statements of Operations.

F-62

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Available-for-Sale Securities						Fair Value
(in millions)			Balance Sheet Location			December 31, 2025			December 31, 2024
Foreign government bonds			Marketable securities 1			$	8		$	—
Foreign government bonds			Other assets 2			$	22		$	97

1.Maturity at time of purchase was more than three months to less than one year.

2.Maturity at time of purchase was more than one year.

At December 31, 2025, available for sale debt securities with a contractual maturities of less than one year and of one to five years included gross unrealized gains (losses) of $— million and $— million, respectively.

The estimated fair value of the available-for-sale securities as of December 31, 2025 and 2024 was determined using Level 2 inputs within the fair value hierarchy. Level 2 measurements were based on the closing price at the end of the period quoted market prices in active markets for identical assets and liabilities.

NOTE 20 - FAIR VALUE MEASUREMENTS

The table below summarizes the basis used to measure certain assets and liabilities relating to marketable securities and derivative assets and liabilities at fair value on a recurring basis.

Significant Other Observable Inputs			December 31, 2025						December 31, 2024
(In millions)			Level 2 1						Level 2 1
Assets at fair value:
Marketable securities			$	1					$	63
Debt securities:
Foreign government bonds 2			30						97
Derivatives relating to: 3
Foreign currency			28						71
Commodity contracts			4						20
Total assets at fair value			$	63					$	251
Liabilities at fair value:
Derivatives relating to: 3
Foreign currency			$	41					$	104
Commodity contracts			9						7
Total liabilities at fair value			$	50					$	111

1.Reflects significant other observable inputs.

2.Represents the company's investments in debt securities that are classified as available-for-sale, which are included in the Consolidated Balance Sheets.

3.See Note 19 - Financial Instruments, to the Consolidated Financial Statements, for the classification of derivatives in the Consolidated Balance Sheets.

For assets and liabilities classified as Level 1 measurements (measured using quoted prices in active markets), total fair value is either the price of the most recent trade at the time of the market close or the official close price, as defined by the exchange on which the asset is most actively traded on the last trading day of the period, multiplied by the number of units held without consideration of transaction costs.

For assets and liabilities classified as Level 2 measurements, where the security is frequently traded in less active markets, fair value is based on the closing price at the end of the period; where the security is less frequently traded, fair value is based on the price a dealer would pay for the security or similar securities, adjusted for any terms specific to that asset or liability, or by using observable market data points of similar, more liquid securities to imply the price. For time deposits classified as held-to-maturity investments and reported at amortized cost, fair value is based on an observable interest rate for similar securities. Market inputs are obtained from well-established and recognized vendors of market data and subjected to tolerance and quality checks.

For derivative assets and liabilities, standard industry models are used to calculate the fair value of the various financial instruments based on significant observable market inputs, such as foreign exchange rates, commodity prices, swap rates and implied volatilities obtained from various market sources. Market inputs are obtained from well-established and recognized vendors of market data and subjected to tolerance/quality checks.

F-63

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

For all other assets and liabilities for which observable inputs are used, fair value is derived through the use of fair value models, such as a discounted cash flow model or other standard pricing models. See Note 19 - Financial Instruments, to the Consolidated Financial Statements, for further information on the types of instruments used by the company for risk management.

There were no transfers between Levels 1 and 2 during the years ended December 31, 2025 and 2024.

For assets classified as Level 3 measurements, the fair value is based on significant unobservable inputs including assumptions where there is little, if any, market activity. The fair value of the company’s interests held in trade receivable conduits is determined by calculating the expected amount of cash to be received using the key input of anticipated credit losses in the portfolio of receivables sold that have not yet been collected. Given the short-term nature of the underlying receivables, discount rate and prepayments are not factors in determining the fair value of the interests.

Fair Value Measurements on a Nonrecurring Basis

As part of the Crop Protection Operations Strategy Restructuring Program, the company plans to exit its production activities at its site in Pittsburg, California, as well as cease operations in select manufacturing lines at other locations. During the year ended December 31, 2023, the company recognized a pre-tax non-cash impairment charge of $152 million to restructuring and asset related charges – net, in the Consolidated Statement of Operations, consisting of a charge of $92 million and $60 million relating to operating lease assets and property, plant and equipment, respectively, which were classified as Level 3 measurements using unobservable inputs.

See Note 5 - Restructuring and Asset Related Charges - Net, to the Consolidated Financial Statements, for additional information.

NOTE 21 - GEOGRAPHIC INFORMATION

Sales are attributed to geographic areas based on customer location; long-lived assets are attributed to geographic areas based on asset location.

			Net Sales
			For the Year Ended December 31,
(In millions)			2025			2024			2023
United States			$	8,269		$	7,866		$	7,783
Canada			755			794			807
EMEA			3,110			3,124			3,367
Latin America 1			3,928			3,776			3,906
Asia Pacific			1,339			1,348			1,363
Total			$	17,401		$	16,908		$	17,226

1.Net sales for Brazil for the years ended December 31, 2025, 2024 and 2023 were $2,900 million, $2,618 million and $2,523 million, respectively.

			Net Property
			As of December 31,
(In millions)			2025			2024			2023
United States			$	2,879		$	2,878		$	2,922
Canada			100			101			119
EMEA			573			522			548
Latin America			586			514			608
Asia Pacific			82			84			90
Total			$	4,220		$	4,099		$	4,287

F-64

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

NOTE 22 - SEGMENT INFORMATION

Corteva’s reportable segments reflect the manner in which its chief operating decision maker ("CODM") allocates resources and assesses performance, which is at the operating segment level (Seed and Crop Protection). The company's CODM is the Chief Executive Officer. The primary measure used by Corteva's CODM for purposes of allocating resources to the segments and assessing segment performance is segment operating EBITDA.

Segment operating EBITDA is primarily utilized in the annual planning and monthly forecasting processes. On a monthly basis, the CODM considers variances between comparable prior year actual results and current year actual or forecasted results when evaluating the company's success in delivering its innovative proprietary technology to farmers and monitoring of expected savings from cost and productivity actions. The CODM also utilizes segment operating EBITDA when evaluating the impacts of market-driven trends on segment performance, such as input costs and inflationary and currency impacts.

The company defines segment operating EBITDA as earnings (loss) (i.e., income (loss) from continuing operations before income taxes) before interest, depreciation, amortization, corporate expenses, non-operating (benefits) costs, foreign exchange gains (losses), and net unrealized gain or loss from mark-to-market activity for certain foreign currency derivative instruments that do not qualify for hedge accounting, excluding the impact of significant items and separation costs. Non-operating (benefits) costs consists of non-operating pension and other post-employment benefit (OPEB) credits (costs), tax indemnification adjustments and environmental remediation and legal costs associated with legacy businesses and sites. Tax indemnification adjustments relate to changes in indemnification balances, as a result of the application of the terms of the Tax Matters Agreement, between Corteva and Dow and/or DuPont that are recorded by the company as pre-tax income or expense. Net unrealized gain or loss from mark-to-market activity for certain foreign currency derivative instruments that do not qualify for hedge accounting represents the non-cash net gain (loss) from changes in fair value of certain undesignated foreign currency derivative contracts. Upon settlement, which is within the same calendar year of execution of the contract, the realized gain (loss) from the changes in fair value of the non-qualified foreign currency derivative contracts will be reported in the respective segment results to reflect the economic effects of the foreign currency derivative contracts without the resulting unrealized mark to fair value volatility.

Corporate Profile

The company conducts its global operations through the following reportable segments:

Seed

The company's Seed segment is a global leader in developing and supplying commercial seed combining advanced germplasm and traits that offer maximum yield potential for farmers around the world. The segment is a leader in many key seed markets, including North America corn and soybeans, Europe corn and sunflower, as well as Brazil, India, South Africa and Argentina corn. The company offers seed and trait technologies that boost resilience to weather, pests, diseases, and herbicides used to manage weeds. Its digital solutions provide data-driven insights to help farmers optimize yield and profitability.

Crop Protection

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

F-65

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

(In millions)			Seed			Crop Protection			Total
As of and for the Year Ended December 31, 2025
Net sales			$	9,898		$	7,503		$	17,401
Segment operating EBITDA			2,636			1,350			3,986
Depreciation and amortization			780			423			1,203
Purchases of property, plant and equipment			377			214			591
As of and for the Year Ended December 31, 2024
Net sales			$	9,545		$	7,363		$	16,908
Segment operating EBITDA			2,219			1,272			3,491
Depreciation and amortization			805			422			1,227
Purchases of property, plant and equipment			365			232			597
As of and for the Year Ended December 31, 2023
Net sales			$	9,472		$	7,754		$	17,226
Segment operating EBITDA			2,117			1,374			3,491
Depreciation and amortization			814			397			1,211
Purchases of property, plant and equipment			332			263			595

Reconciliation of Segment Profitability

(In millions)			Seed			Crop Protection			Total
For the Year Ended December 31, 2025
Net sales			$	9,898		$	7,503		$	17,401
Cost of goods sold			4,533			4,585			9,118
Other expenses 1			2,729			1,568			4,297
Segment operating EBITDA			$	2,636		$	1,350		$	3,986
(In millions)			Seed			Crop Protection			Total
For the Year Ended December 31, 2024
Net sales			$	9,545		$	7,363		$	16,908
Cost of goods sold			4,876			4,636			9,512
Other expenses 1			2,450			1,455			3,905
Segment operating EBITDA			$	2,219		$	1,272		$	3,491
(In millions)			Seed			Crop Protection			Total
For the Year Ended December 31, 2023
Net sales			$	9,472		$	7,754		$	17,226
Cost of goods sold			4,982			4,913			9,895
Other expenses 1			2,373			1,467			3,840
Segment operating EBITDA			$	2,117		$	1,374		$	3,491

1. Other expenses consist primarily of selling, general and administrative expenses and research and development expense, net of depreciation add-back.

F-66

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

Reconciliation to Consolidated Financial Statements

Income (loss) from continuing operations after income taxes to segment operating EBITDA			For the Year Ended December 31,
(In millions)			2025			2024			2023
Income (loss) from continuing operations after income taxes			$	1,204		$	863		$	941
Provision for (benefit from) income taxes on continuing operations			484			412			152
Income (loss) from continuing operations before income taxes			$	1,688		$	1,275		$	1,093
Depreciation and amortization			1,203			1,227			1,211
Interest income			(136)			(132)			(283)
Interest expense			180			233			233
Exchange (gains) losses - net			181			284			397
Non-operating (benefits) costs - net			39			174			151
Mark-to-market (gains) losses on certain foreign currency contracts not designated as hedges			—			—			—
Significant items			658			315			579
Separation costs			35			—			—
Corporate expenses			138			115			110
Segment operating EBITDA			$	3,986		$	3,491		$	3,491

Significant Pre-tax (Charges) Benefits Not Included in Segment Operating EBITDA

The years ended December 31, 2025, 2024 and 2023, respectively, included the following significant pre-tax (charges) benefits which are excluded from segment operating EBITDA:

(In millions)			Seed			Crop Protection			Corporate			Total
For the Year Ended December 31, 2025
Restructuring and asset related charges - net 1			$	(4)		$	(135)		$	(7)		$	(146)
Bayer resolution 2			(610)			—			—			(610)
Gain (loss) on sale of business, assets and equity investments 3,4			—			37			—			37
AltEn facility remediation charges 5			(37)			—			—			(37)
Insurance proceeds 6			—			98			—			98
Total			$	(651)		$	—		$	(7)		$	(658)

(In millions)			Seed			Crop Protection			Corporate			Total
For the Year Ended December 31, 2024
Restructuring and asset related charges - net 1			$	(55)		$	(142)		$	(91)		$	(288)
Gain (loss) on sale of business, assets and equity investments 4			4			3			—			7
Inventory write-offs 4			2			—			—			2
Insurance proceeds 6			—			71			—			71
Estimated settlement expense 7			—			(101)			—			(101)
Acquisition-related costs 8			—			(6)			—			(6)
Total			$	(49)		$	(175)		$	(91)		$	(315)

F-67

Corteva, Inc.

Notes to the Consolidated Financial Statements (continued)

(In millions)			Seed			Crop Protection			Corporate			Total
For the Year Ended December 31, 2023
Restructuring and asset related charges - net 1			$	(86)		$	(228)		$	(22)		$	(336)
Gain (loss) on sale of business, assets and equity investments 4			4			10			—			14
Inventory write-offs 4			(7)			—			—			(7)
Spare parts write-off 3			—			(12)			—			(12)
Estimated settlement expense 7			—			(204)			—			(204)
Acquisition-related costs 8			—			(45)			—			(45)
AltEn facility remediation charges 5			(10)			—			—			(10)
Employee Retention Credit			—			3			—			3
Seed sale associated with Russia Exit 4,9			18			—			—			18
Total			$	(81)		$	(476)		$	(22)		$	(579)

1.Includes restructuring plans and asset related charges as well as accelerated prepaid amortization expense. See Note 5 - Restructuring and Asset Related Charges - Net, to the Consolidated Financial Statements, for additional information.

2.Consists of a charge relating to the resolution of litigation with Bayer. See Note 15 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements, for additional information.

3.Incremental gains (losses) associated with activities related to the Crop Protection Operations Strategy Restructuring Program. Within gain (loss) on sale of business, assets and equity investments, a $23 million benefit was recorded for the year ended December 31, 2025.

4.Incremental gains (losses) associated with activities related to the 2022 Restructuring Actions. Within gain (loss) on sale of business, assets and equity investments, such benefits are $14 million, $7 million and $14 million for the years ended December 31, 2025, 2024 and 2023, respectively.

5.Relates to a charge to increase the remediation accrual at the AltEn facility relating to Corteva's estimated voluntary contribution to the solid waste and wastewater remedial action plans. See Note 15 - Commitments and Contingent Liabilities, to the Consolidated Financial Statements, for additional information.

6.Includes proceeds received related to prior significant items.

7.Consists of estimated Lorsban® related charges.

8.Relates to acquisition-related costs, including transaction and third-party integration costs associated with the completed acquisitions of Stoller and Symborg as well as the recognition of the inventory fair value step-up.

9.Includes a benefit of $18 million for the year ended December 31, 2023, relating to the sale of seeds already under production in Russia when the decision to exit the country was made and that the company was contractually required to purchase. It consists of $71 million of net sales and $53 million of cost of goods sold for the year ended December 31, 2023.

F-68

EIDP, Inc.

Index to the Consolidated Financial Statements

			Page(s)
Management's Reports on Responsibility for Financial Statements and Internal Control over Financial Reporting			F-70
Report of Independent Registered Public Accounting Firm (PCAOB ID 238)			F-71
Consolidated Financial Statements:
Consolidated Statements of Operations for the years ended December 31, 2025, 2024, and 2023			F-73
Consolidated Statements of Comprehensive Income (Loss) for the years ended December 31, 2025, 2024 and 2023			F-74
Consolidated Balance Sheets as of December 31, 2025 and 2024			F-75
Consolidated Statements of Cash Flows for the years ended December 31, 2025, 2024, and 2023			F-76
Consolidated Statements of Equity for the years ended December 31, 2025, 2024, and 2023			F-77
Notes to the Consolidated Financial Statements			F-78

F-69

Management's Reports on Responsibility for Financial Statements and

Internal Control over Financial Reporting

Management's Report on Responsibility for Financial Statements

Management is responsible for the Consolidated Financial Statements and the other financial information contained in this Annual Report on Form 10-K. The financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("GAAP") and are considered by management to present fairly EIDP's financial position, results of operations and cash flows. The financial statements include some amounts that are based on management's best estimates and judgments. The Consolidated Financial Statements have been audited by EIDP's independent registered public accounting firm, PricewaterhouseCoopers LLP. The purpose of their audit is to express an opinion as to whether the Consolidated Financial Statements included in this Annual Report on Form 10-K present fairly, in all material respects, EIDP's financial position, results of operations and cash flows in conformity with GAAP. Their report is presented on the following pages.

Management's Report on Internal Control over Financial Reporting

Management is responsible for establishing and maintaining an adequate system of internal control over financial reporting as defined in Rules 13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934. EIDP's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with GAAP. EIDP'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 EIDP;

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 EIDP are being made only in accordance with authorization of management and directors of EIDP; and

iii.provide reasonable assurance regarding prevention or timely detection of unauthorized acquisitions, use or disposition of EIDP's assets that could have a material effect on the financial statements.

Internal control over financial reporting has certain inherent limitations which may not prevent or detect misstatements. In addition, changes in conditions and business practices may cause variation in the effectiveness of internal controls.

Management assessed the effectiveness of EIDP's internal control over financial reporting as of December 31, 2025, based on criteria set forth by the Committee of Sponsoring Organizations of the Treadway Commission ("COSO") in Internal Control-Integrated Framework (2013). Based on its assessment and those criteria, management concluded that EIDP maintained effective internal control over financial reporting as of December 31, 2025.

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

Charles V. Magro Chief Executive Officer and Director						David P. Johnson Executive Vice President, Chief Financial Officer and Director

February 12, 2026

F-70

Report of Independent Registered Public Accounting Firm

To the Board of Directors and Stockholders of EIDP, Inc.

Opinions on the Financial Statements and Internal Control over Financial Reporting

We have audited the accompanying consolidated balance sheets of EIDP, Inc. and its subsidiaries (the "Company") as of December 31, 2025 and 2024, and the related consolidated statements of operations, of comprehensive income (loss), of equity and of cash flows for each of the three years in the period ended December 31, 2025, including the related notes and schedule of valuation and qualifying accounts for each of the three years in the period ended December 31, 2025 appearing under Item 15 (collectively referred to as the "consolidated financial statements"). We also have audited the Company's internal control over financial reporting as of December 31, 2025, based on criteria established in Internal Control - Integrated Framework (2013) issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO).

In our opinion, the consolidated financial statements referred to above present fairly, in all material respects, the financial position of the Company as of December 31, 2025 and 2024, and the results of its operations and its cash flows for each of the three years in the period ended December 31, 2025 in conformity with accounting principles generally accepted in the United States of America. Also in our opinion, the Company maintained, in all material respects, effective internal control over financial reporting as of December 31, 2025, based on criteria established in Internal Control - Integrated Framework (2013) issued by the COSO.

Basis for Opinions

The Company's management is responsible for these consolidated financial statements, for maintaining effective internal control over financial reporting, and for its assessment of the effectiveness of internal control over financial reporting, included in the accompanying Management’s Report on Internal Control over Financial Reporting. Our responsibility is to express opinions on the Company’s consolidated financial statements and on the Company's internal control over financial reporting based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Company in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error or fraud, and whether effective internal control over financial reporting was maintained in all material respects.

Our audits of the consolidated financial statements included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. Our audit of internal control over financial reporting included obtaining an understanding of internal control over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. Our audits also included performing such other procedures as we considered necessary in the circumstances. We believe that our audits provide a reasonable basis for our opinions.

Definition and Limitations of Internal Control over Financial Reporting

A company’s internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company’s internal control over financial reporting includes those policies and procedures that (i) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company’s assets that could have a material effect on the financial statements.

F-71

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

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.

Revenue Recognition - Product Sales

As described in Notes 2 and 4 to the Corteva, Inc. consolidated financial statements, net sales were $17.401 billion for the year ended December 31, 2025. Substantially all of the Company’s revenue is derived from product sales. Revenue is recognized from product sales when the 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. Control transfer occurs at a point in time according to shipping terms. The transaction price includes estimates of variable consideration, such as rights of return, rebates, and discounts, that are reductions in revenue. All estimates are based on the Company's historical experience, anticipated performance, and management’s best judgment at the time the estimate is made. Estimates of variable consideration included in the transaction price primarily utilize the expected value method based on historical experience. These estimates are reassessed each reporting period and are included in the transaction price to the extent it is probable that a significant reversal of cumulative revenue recognized will not occur upon resolution of uncertainty associated with the variable consideration. The majority of contracts have a single performance obligation satisfied at a point in time and the transaction price is stated in the contract, usually as quantity times price per unit.

The principal consideration for our determination that performing procedures relating to revenue recognition for product sales is a critical audit matter is a high degree of auditor effort in performing procedures related to the Company’s revenue recognition.

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 the revenue recognition process. These procedures also included, among others (i) evaluating revenue transactions by testing, on a sample basis, the revenue recognized by obtaining and inspecting source documents, such as purchase orders, invoices, shipment or delivery documents, and cash receipts, as applicable; (ii) testing, on a sample basis, the recognition of variable consideration for rebates issued and discounts granted during the year by obtaining and inspecting source documents, such as support for the nature of the variable consideration, amount, and agreement with the customer; and (iii) confirming, on a sample basis, outstanding customer invoice balances as of year-end, and, for confirmations not returned, obtaining and inspecting source documents, including invoices, shipment or delivery documents, and subsequent cash receipts, as applicable.

/s/ PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

February 12, 2026

We have served as the Company’s auditor since 1946.

F-72

EIDP, Inc.

Consolidated Financial Statements

CONSOLIDATED STATEMENTS OF OPERATIONS

(In millions, except per share amounts)			For the Year Ended December 31,
			2025			2024			2023
Net sales			$	17,401		$	16,908		$	17,226
Cost of goods sold			9,172			9,529			9,920
Research and development expense			1,474			1,402			1,337
Selling, general and administrative expenses			3,492			3,196			3,176
Amortization of intangibles			644			685			683
Restructuring and asset related charges - net			146			288			336
Separation costs			35			—			—
Other income (expense) - net			(570)			(261)			(448)
Interest expense			180			233			253
Income (loss) from continuing operations before income taxes			1,688			1,314			1,073
Provision for (benefit from) income taxes on continuing operations			484			421			147
Income (loss) from continuing operations after income taxes			1,204			893			926
Income (loss) from discontinued operations after income taxes			(99)			56			(194)
Net income (loss)			1,105			949			732
Net income (loss) attributable to noncontrolling interests			1			2			2
Net income (loss) attributable to EIDP, Inc.			$	1,104		$	947		$	730

See Notes to the Consolidated Financial Statements beginning on page F-78.

F-73

EIDP, Inc.

Consolidated Financial Statements

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(In millions)			For the Year Ended December 31,
2025			2024			2023
Net income (loss)			$	1,105		$	949		$	732
Other comprehensive income (loss) - net of tax:
Cumulative translation adjustments			867			(1,014)			425
Adjustments to pension benefit plans			(152)			127			(190)
Adjustments to other benefit plans			(26)			30			29
Unrealized gain (loss) on investments			6			(6)			—
Derivative instruments			(23)			71			(135)
Total other comprehensive income (loss)			672			(792)			129
Comprehensive income (loss)			1,777			157			861
Comprehensive income (loss) attributable to noncontrolling interests - net of tax			1			2			2
Comprehensive income (loss) attributable to EIDP, Inc.			$	1,776		$	155		$	859

See Notes to the Consolidated Financial Statements beginning on page F-78.

F-74

EIDP, Inc.

Consolidated Financial Statements

CONSOLIDATED BALANCE SHEETS

(In millions, except share and per share amounts)			December 31, 2025			December 31, 2024
Assets
Current assets
Cash and cash equivalents			$	4,521		$	3,106
Marketable securities			9			63
Accounts and notes receivable - net			6,371			5,676
Inventories			5,667			5,432
Other current assets			767			820
Total current assets			17,335			15,097
Investment in nonconsolidated affiliates			160			134
Property, plant and equipment			9,551			9,074
Less: Accumulated depreciation			5,331			4,975
Net property, plant and equipment			4,220			4,099
Goodwill			10,465			10,408
Other intangible assets			8,301			8,876
Deferred income taxes			320			401
Other assets			2,044			1,810
Total Assets			$	42,845		$	40,825
Liabilities and Equity
Current liabilities
Short-term borrowings and finance lease obligations			$	894		$	750
Accounts payable			4,398			4,039
Income taxes payable			155			207
Deferred revenue			3,579			3,287
Accrued and other current liabilities			3,223			2,096
Total current liabilities			12,249			10,379
Long-term debt			1,686			1,953
Other noncurrent liabilities
Deferred income tax liabilities			251			478
Pension and other post-employment benefits			2,434			2,271
Other noncurrent obligations			1,963			1,707
Total noncurrent liabilities			6,334			6,409
Commitments and contingent liabilities
Stockholders’ equity
Preferred stock, without par value – cumulative; 23,000,000 shares authorized; issued at December 31, 2025 and December 31, 2024:
$4.50 Series – 1,673,000 shares (callable at $120)			169			169
$3.50 Series – 700,000 shares (callable at $102)			70			70
Common stock, $0.30 par value; 1,800,000,000 shares authorized; 200 issued at December 31, 2025 and December 31, 2024			—			—
Additional paid-in capital			24,610			24,464
Due from Parent			—			(129)
Retained earnings (accumulated deficit)			2,207			2,930
Accumulated other comprehensive income (loss)			(2,797)			(3,469)
Total EIDP, Inc. stockholders’ equity			24,259			24,035
Noncontrolling interests			3			2
Total equity			24,262			24,037
Total Liabilities and Equity			$	42,845		$	40,825

See Notes to the Consolidated Financial Statements beginning on page F-78.

F-75

EIDP, Inc.

Consolidated Financial Statements

CONSOLIDATED STATEMENTS OF CASH FLOWS

(In millions)			For the Year Ended December 31,
2025			2024			2023
Operating activities
Net income (loss)			$	1,105		$	949		$	732
(Income) loss from discontinued operations after income taxes			99			(56)			194
Adjustments to reconcile net income (loss) to cash provided by (used for) operating activities:
Depreciation and amortization			1,203			1,227			1,211
Provision for (benefit from) deferred income tax			(41)			(365)			(438)
Net periodic pension and OPEB (benefit) cost, net			36			160			138
Pension and OPEB contributions			(136)			(151)			(149)
Net (gain) loss on sales of property, businesses, consolidated companies, and investments			(41)			(17)			(22)
Restructuring and asset related charges - net			146			288			336
Other net loss			545			383			578
Changes in assets and liabilities, net
Accounts and notes receivable			(261)			(705)			358
Inventories			(35)			1,110			57
Accounts payable			231			(115)			(663)
Deferred revenue			270			(86)			(11)
Other assets and liabilities			336			(284)			(553)
Cash provided by (used for) operating activities - continuing operations			3,457			2,338			1,768
Cash provided by (used for) operating activities - discontinued operations			(51)			(151)			(40)
Cash provided by (used for) operating activities			3,406			2,187			1,728
Investing activities
Capital expenditures			(591)			(597)			(595)
Net payment from (advances to) Parent on in-house banking arrangement			—			361			(20)
Proceeds from sales of property, businesses, and consolidated companies - net of cash divested			54			5			57
Acquisitions of businesses - net of cash acquired			—			—			(1,456)
Investments in and loans to nonconsolidated affiliates			(20)			(7)			(32)
Purchases of investments			—			(144)			(148)
Proceeds from sales and maturities of investments			135			130			147
Proceeds from settlement of net investment hedge			(83)			63			42
Other investing activities, net			(38)			(39)			(2)
Cash provided by (used for) investing activities			(543)			(228)			(2,007)
Financing activities
Net change in borrowings (less than 90 days)			—			53			(6)
Net payment from (advances to) Parent on in-house banking arrangement			129			(129)			—
Payments on related party debt			—			—			(1,129)
Proceeds from debt			1,730			3,072			3,429
Payments on debt			(1,871)			(2,885)			(2,309)
Proceeds from exercise of stock options			88			60			31
Dividends paid to Parent			(1,682)			(1,750)			—
Other financing activities, net			(38)			(23)			(54)
Cash provided by (used for) financing activities			(1,644)			(1,602)			(38)
Effect of exchange rate changes on cash, cash equivalents and restricted cash equivalents			84			(93)			(143)
Increase (decrease) in cash, cash equivalents and restricted cash equivalents			1,303			264			(460)
Cash, cash equivalents and restricted cash equivalents at beginning of period			3,422			3,158			3,618
Cash, cash equivalents and restricted cash equivalents at end of period			$	4,725		$	3,422		$	3,158
Supplemental cash flow information
Cash paid during the period for
Interest, net of amounts capitalized 1			$	191		$	244		$	234
Income taxes			750			707			535

1.Reflects interest, net of amounts capitalized, paid to external parties. For information associated with interest paid on related party debt refer to EIDP Note 2 - Related Party Transactions, of the EIDP Consolidated Financial Statements.

See Notes to the Consolidated Financial Statements beginning on page F-78.

F-76

EIDP, Inc.

Consolidated Financial Statements

CONSOLIDATED STATEMENTS OF EQUITY

(In millions)			Preferred Stock			Common Stock			Additional Paid-in Capital			Due from Parent			Retained Earnings (Accum. Deficit)			Accumulated Other Comp. Income (Loss)			Non-Controlling Interests			Total Equity
Balance at January 1, 2023			$	239		$	—		$	24,284		$	—		$	3,031		$	(2,806)		$	1		$	24,749
Net income (loss)															730						2			732
Other comprehensive income (loss)																		129						129
Share-based compensation									28						(2)									26
Preferred dividends ($4.50 Series - $4.50 per share, $3.50 Series - $3.50 per share)															(10)									(10)
Issuance of Corteva Stock									40															40
Other - net									(3)						(2)						(1)			(6)
Balance at December 31, 2023			$	239		$	—		$	24,349		$	—		$	3,747		$	(2,677)		$	2		$	25,660
Net income (loss)															947						2			949
Other comprehensive income (loss)																		(792)						(792)
Due from Parent												(129)												(129)
Share-based compensation									47						(2)									45
Preferred dividends ($4.50 Series - $4.50 per share, $3.50 Series - $3.50 per share)															(10)									(10)
Issuance of Corteva Stock									60															60
Dividend to Parent															(1,750)									(1,750)
Other - net									8						(2)						(2)			4
Balance at December 31, 2024			$	239		$	—		$	24,464		$	(129)		$	2,930		$	(3,469)		$	2		$	24,037
Net income (loss)															1,104						1			1,105
Other comprehensive income (loss)																		672						672
Due from Parent												129												129
Share-based compensation									57						(2)									55
Preferred dividends ($4.50 Series - $4.50 per share, $3.50 Series - $3.50 per share)															(10)									(10)
Issuance of Corteva Stock									88															88
Dividend to Parent															(1,815)									(1,815)
Other - net									1															1
Balance at December 31, 2025			$	239		$	—		$	24,610		$	—		$	2,207		$	(2,797)		$	3		$	24,262

See Notes to the Consolidated Financial Statements beginning on page F-78.

F-77

EIDP, Inc.

Notes to the Consolidated Financial Statements

Table of Contents

Note						Page
1			Basis of Presentation			F-81
2			Related Party Transactions			F-82
3			Income Taxes			F-82
4			Segment Information			F-83

F-78

EIDP, Inc.

Notes to the Consolidated Financial Statements (continued)

NOTE 1 - BASIS OF PRESENTATION

Corteva, Inc. owns 100 percent of the outstanding common stock of EIDP. EIDP is a subsidiary of Corteva, Inc. and continues to be a reporting company, subject to the requirements of the Exchange Act. The primary differences between Corteva, Inc. and EIDP are outlined below:

• Preferred Stock - EIDP has preferred stock outstanding to third parties which is accounted for as a noncontrolling interest at the Corteva, Inc. level. Each share of EIDP Preferred Stock - $4.50 Series and EIDP Preferred Stock - $3.50 Series issued and outstanding at the effective date of the Corteva Separation remains issued and outstanding as to EIDP and was unaffected by the Corteva Separation.

• Related Party Loan - EIDP engaged in a series of debt redemptions during the second quarter of 2019 that were partially funded through an intercompany loan from Corteva, Inc. This was eliminated in consolidation at the Corteva, Inc. level but remained on EIDP's consolidated financial statements at the standalone level (including the associated interest) through its repayment date in the fourth quarter of 2023.

• Master In-House Banking Agreement** - A Master In-House Banking Agreement exists to which EIDP is a party, along with Corteva and certain consolidated subsidiaries, as more fully described in EIDP Note 2 – Related Party Transactions, of the EIDP Consolidated Financial Statements. Through the third quarter of 2024, EIDP earned interest on Corteva, Inc.’s borrowings under the Master In-House Banking Agreement; however, beginning in the fourth quarter of 2024 no interest has been recognized by EIDP and the amount due from Corteva, Inc. is classified within equity of EIDP due to a change in repayment intent related to the arrangement. Such transactions are eliminated in consolidation at the Corteva, Inc. level.

• Dividends** - The Board of Directors of EIDP authorizes and declares a quarterly dividend to Corteva, Inc., from which the proceeds are intended to be used to fund Corteva, Inc. share repurchases and common stock dividends during the subsequent quarter.

• Capital Structure - At December 31, 2025, Corteva, Inc.'s capital structure consists of 672,163,000 issued shares of common stock, par value $0.01 per share.

The accompanying footnotes relate to EIDP only, and not to Corteva, Inc., and are presented to show differences between EIDP and Corteva, Inc.

For the footnotes listed below, refer to the following Corteva, Inc. footnotes:

• Note 1 - Background and Basis of Presentation - refer to page F-11 of the Corteva, Inc. Consolidated Financial Statements

• Note 2 - Summary of Significant Accounting Policies - refer to page F-12 of the Corteva, Inc. Consolidated Financial Statements

• Note 3 - Recent Accounting Guidance - refer to page F-16 of the Corteva, Inc. Consolidated Financial Statements

• Note 4 - Revenue - refer to page F-17 of the Corteva, Inc. Consolidated Financial Statements

• Note 5 - Restructuring and Asset Related Charges - Net - refer to page F-19 of the Corteva, Inc. Consolidated Financial Statements

• Note 6 - Supplementary Information - refer to page F-21 of the Corteva, Inc. Consolidated Financial Statements. In addition, EIDP earned interest on a related party loan receivable from Corteva, Inc. through the third quarter of 2024; refer to EIDP Note 2 - Related Party Transactions, of the EIDP Consolidated Financial Statements, below

• Note 7 - Income Taxes - Differences exist between Corteva, Inc. and EIDP; refer to EIDP Note 3 - Income Taxes, of the EIDP Consolidated Financial Statements, below

• Note 8 - Earnings Per Share of Common Stock - Not applicable for EIDP

• Note 9 - Accounts and Notes Receivable - Net - refer to page F-29 of the Corteva, Inc. Consolidated Financial Statements

• Note 10 - Inventories - refer to page F-30 of the Corteva, Inc. Consolidated Financial Statements

• Note 11 - Property, Plant and Equipment - refer to page F-30 of the Corteva, Inc. Consolidated Financial Statements

• Note 12 - Goodwill and Other Intangible Assets - refer to page F-30 of the Corteva, Inc. Consolidated Financial Statements

• Note 13 - Leases - refer to page F-31 of the Corteva, Inc. Consolidated Financial Statements

• Note 14 - Short-Term Borrowings, Long-Term Debt and Available Credit Facilities - refer to page F-33 of the Corteva, Inc. Consolidated Financial Statements. In addition, EIDP had a related party loan payable to Corteva, Inc. which was repaid during the fourth quarter of 2023; refer to EIDP Note 2 - Related Party Transactions, of the EIDP Consolidated Financial Statements, below

• Note 15 - Commitments and Contingent Liabilities - refer to page F-35 of the Corteva, Inc. Consolidated Financial Statements

• Note 16 - Stockholders' Equity - refer to page F-45 of the Corteva, Inc. Consolidated Financial Statements

F-79

EIDP, Inc.

Notes to the Consolidated Financial Statements (continued)

• Note 17 - Pension Plans and Other Post-Employment Benefits - refer to page F-47 of the Corteva, Inc. Consolidated Financial Statements

• Note 18 - Stock-Based Compensation - refer to page F-56 of the Corteva, Inc. Consolidated Financial Statements

• Note 19 - Financial Instruments - refer to page F-58 of the Corteva, Inc. Consolidated Financial Statements

• Note 20 - Fair Value Measurements - refer to page F-63 of the Corteva, Inc. Consolidated Financial Statements

• Note 21 - Geographic Information - refer to page F-64 of the Corteva, Inc. Consolidated Financial Statements

• Note 22 - Segment Information - Differences exist between Corteva, Inc. and EIDP; refer to EIDP Note 4 - Segment Information, of the EIDP Consolidated Financial Statements, below

NOTE 2 - RELATED PARTY TRANSACTIONS

Transactions with Corteva

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. 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, 2025 and 2024, EIDP had a due from parent of $— million and $129 million, respectively, classified within the equity section of EIDP’s Consolidated Balance Sheets.

In December 2025, the Board of Directors of EIDP authorized and declared a dividend of $195 million to Corteva, Inc., from which the proceeds are intended to be used to fund Corteva, Inc. share repurchases and common stock dividends during the first quarter of 2026. At December 31, 2025, EIDP had a dividend payable to Corteva, Inc. of $133 million.

EIDP declared cash dividends of $1,815 million and $1,750 million for the years ended December 31, 2025 and 2024, respectively. Cash dividends paid to Corteva, Inc. during the years ended December 31, 2025 and 2024 were $1,682 million and $1,750 million, respectively.

In the second quarter of 2019, EIDP entered into a related party revolving loan from Corteva, Inc., with a maturity date in 2024.

EIDP repaid the outstanding related party revolving loan balance during the fourth quarter of 2023. EIDP incurred interest expense of $20 million and paid interest of $40 million for the year ended December 31, 2023 associated with the related party loan to Corteva, Inc., net of interest income earned from the Master In-House Banking Agreement.

As of December 31, 2025 and 2024, EIDP had payables to Corteva, Inc. of $27 million and $9 million, included in accrued and other current liabilities, respectively, and $154 million and $149 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).

F-80

EIDP, Inc.

Notes to the Consolidated Financial Statements (continued)

NOTE 3 - INCOME TAXES

Refer to page F-23 of the Corteva, Inc. Consolidated Financial Statements for discussion of tax items that do not differ between Corteva, Inc. and EIDP. Since the reconciliation to the U.S. statutory rate for the year ended December 31, 2025 is the same for both Corteva, Inc. and EIDP, such information is omitted from the table below.

Geographic Allocation of Income (Loss) and Provision for (Benefit from) Income Taxes			For the Year Ended December 31,
(In millions)			2025			2024			2023
Income (loss) from continuing operations before income taxes
Domestic			$	325		$	363		$	(434)
Foreign			1,363			951			1,507
Income (loss) from continuing operations before income taxes			$	1,688		$	1,314		$	1,073
Current tax expense (benefit)
Federal			$	87		$	292		$	138
State and local			26			47			40
Foreign			412			447			407
Total current tax expense (benefit)			$	525		$	786		$	585
Deferred tax expense (benefit)
Federal			$	(139)		$	(300)		$	(326)
State and local			(24)			(28)			(50)
Foreign			122			(37)			(62)
Total deferred tax expense (benefit)			$	(41)		$	(365)		$	(438)
Provision for (benefit from) income taxes on continuing operations			484			421			147
Net income (loss) from continuing operations			$	1,204		$	893		$	926

Reconciliation to U.S. Statutory Rate			For the Year Ended December 31,
			2024			2023
Statutory U.S. federal income tax rate			21.0		%	21.0		%
Effective tax rates on international operations - net 1			4.6			(1.9)
Acquisitions, divestitures and ownership restructuring activities 2			(1.1)			3.6
U.S. research and development credit			(4.5)			(6.0)
Exchange gains/losses 3			1.7			2.0
State and local income taxes - net			1.3			0.9
Impact of Swiss Tax Changes 4			—			(8.0)
Excess tax benefits/deficiencies from stock compensation			(0.2)			(0.6)
Tax settlements and expiration of statute of limitations			(1.6)			(0.4)
Impact of Brazil valuation allowance 6			9.1			—
Repatriation of foreign earnings 5			1.7			2.9
Other – net			—			0.2
Effective tax rate			32.0		%	13.7		%

1. Includes the effects of local and U.S. taxes related to earnings of non-U.S. subsidiaries, changes in the amount of unrecognized tax benefits associated with these earnings, losses at non-U.S. subsidiaries without local tax benefits due to valuation allowances, and other permanent differences between tax and U.S. GAAP results.

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

3. Principally reflects the impact of foreign exchange gains and losses on net monetary assets for which no corresponding tax impact is realized. Further information about the company's foreign currency hedging program is included in Note 6 - Supplementary Information, and Note 19 - Financial Instruments, under the heading Foreign Currency Risk.

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

5. Includes the effect of withholding tax on distribution of foreign earnings to the U.S., net of U.S. foreign tax credits.

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

a legal entity in Brazil (Seed business).

F-81

EIDP, Inc.

Notes to the Consolidated Financial Statements (continued)

NOTE 4 - SEGMENT INFORMATION

There are no differences in reporting structure or segments between Corteva, Inc. and EIDP. In addition, there are no differences between Corteva, Inc. and EIDP segment net sales, segment operating EBITDA or significant items by segment; refer to page F-65 of the Corteva, Inc. Consolidated Financial Statements for background information on the segments as well as further details regarding segment metrics. The tables below reconcile income (loss) from continuing operations after income taxes to segment operating EBITDA, as differences exist between Corteva, Inc. and EIDP.

Reconciliation to Consolidated Financial Statements

Income (loss) from continuing operations after income taxes to segment operating EBITDA (In millions)			For the Year Ended December 31,
2025			2024			2023
Income (loss) from continuing operations after income taxes			$	1,204		$	893		$	926
Provision for (benefit from) income taxes on continuing operations			484			421			147
Income (loss) from continuing operations before income taxes			$	1,688		$	1,314		$	1,073
Depreciation and amortization			1,203			1,227			1,211
Interest income			(136)			(171)			(283)
Interest expense			180			233			253
Exchange (gains) losses - net			181			284			397
Non-operating (benefits) costs - net			39			174			151
Mark-to-market (gains) losses on certain foreign currency contracts not designated as hedges			—			—			—
Significant items			658			315			579
Separation costs			35			—			—
Corporate expenses			138			115			110
Segment operating EBITDA			$	3,986		$	3,491		$	3,491