KEEP GROWING. ANNUAL REPORT 2020 CORTEVA ANNUAL REPORT 2020 ACCELERATING VALUE CREATION Corteva delivered strong performance in our first full year as a standalone pure-play agriculture company despite the effects of an unprecedented year. We leveraged the power of our multi-channel, multi-brand distribution, superior product pipeline, and unmatched customer relationships to deliver above-market organic1 sales growth while taking actions across the organization to expand our margins and increase operating efficiency. At the same time, we maintained our focus on disciplined capital allocation, balancing our investment in ongoing growth initiatives with enhancing the return of capital to our shareholders. We are confident that the actions we took over the course of 2020 position us well to substantially accelerate our earnings growth in the coming year and over the long term. We invite you to read more about how Corteva continues to increase value for our shareholders, customers and society—living up to our purpose as a global agriculture industry leader, enriching the lives of producers and consumers now and for generations CONTENTS to come. FINANCIAL HIGHLIGHTS ................................................1 LETTER TO SHAREHOLDERS .......................................2 2020 HIGHLIGHTS ........................................................... 5 CORPORATE GOVERNANCE STRUCTURE SUPPORTS LONG-TERM VALUE CREATION .......6 IN IT FOR GOOD: SHAPING THE FUTURE OF AGRICULTURE THROUGH ENVIRONMENTAL SUSTAINABILITY ........................7 BOLDLY EMBRACING THE POWER OF INCLUSION, DIVERSITY AND EQUITY ................... 8 FORM 10-K FOR THE YEAR ENDED DECEMBER 31, 2020 (with selected financial exhibits) Stockholder Reference Information 1. Organic sales is a Non-GAAP measure. Refer to the Appendix of this document for further information. CORTEVA ANNUAL REPORT 2020 FINANCIAL HIGHLIGHTS Amounts in millions, except per share amounts 2020 2019 Net Sales $ 14,217 $ 13,846 Income from Continuing Operations after Tax2 $ 756 $ 26 Operating EBITDA1,2 $ 2,087 $ 1,987 GAAP Earnings per Share2 $ 0.98 $ 0.02 Operating Earnings per Share1,2 $ 1.50 $ 1.43 Dividends Declared per Share $ 0.52 $ 0.26 2020 Net Sales: $14,217 (Dollars in millions) 2020 Net Sales by Segment (Dollars in millions) Seed: Crop Protection: $7,756 $6,461 2020 Net Sales by Region (Dollars in millions) North Latin Europe, Middle East Asia America:3 America: and Africa: Pacific: $7,168 $2,805 $2,842 $1,402 North America:3 Latin America: Seed: Crop Protection: Seed: Crop Protection: $4,795 $2,373 $1,117 $1,688 Europe, Middle East and Africa: Asia Pacific: Seed: Crop Protection: Seed: Crop Protection: $1,468 $1,374 $376 $1,026 1. Organic Sales, Operating EBITDA, Operating EBITDA margin and Operating EPS are non-GAAP measures. See pages 59-61 of the 10-K and the Appendix of this document for further discussion. 2. Full year 2019 results are on a pro forma basis and were determined in accordance with Article 11 of Reg S-X, that was in effect prior to recent amendments. 3. North America is defined as the U.S. and Canada. The information provided herein contains certain estimates and forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended, which are intended to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and may be identified by their use of words like “plans,” “expects,” “will,” “anticipates,” “believes,” “intends,” “projects,” “estimates goals” or other words of similar meaning. All statements that address expectations or projections about the future, including statements about Corteva’s strategy for growth, product development, regulatory approval, market position, anticipated benefits of recent acquisitions, timing of anticipated benefits from restructuring actions, outcome of contingencies, such as litigation and environmental matters, expenditures, and financial results, as well as expected benefits from, the separation of Corteva from DowDuPont, are forward-looking statements. Corteva disclaims and does not undertake any obligation to update or revise any forward-looking statement environmental, sustainability, and governance goals or targets or other estimate, except as required by applicable law. A detailed discussion of some of the significant risks and uncertainties which may cause results and events to differ materially from such forward-looking statements or other estimates is included in the “Risk Factors” section of Corteva’s Annual Report on Form 10-K, as modified by subsequent reports on Form 10-Q and Current Reports on Form 8-K. 1 CORTEVA ANNUAL REPORT 2020 To Our Shareholders: In 2020, Corteva’s global team demonstrated our ability to deliver value. With an industry-leading product pipeline and unmatched distribution, we delivered for our customers— providing what they need, when they needed it. We continued to make investments to enhance our cost and competitive position–and expect to accelerate the impact of these actions on earnings in the near-term. Looking ahead, we are confident that we have the strategy, products, route to market, and productivity mindset to drive meaningful margin expansion and create significant value for our shareholders. Advancing Value-Added Innovation to Deliver Top-Line Growth Our superior new product portfolio and global distribution system continue to generate market preference and pricing advantage. In 2020, we capitalized on these strengths to deliver year-over-year sales gains of 3%, with organic1 sales growth of 8%. These gains were broad-based across segments and regions–with organic sales increases inclusive of strong execution on local pricing to address currency headwinds. We continued to drive adoption of new, differentiated Crop Protection products during 2020, resulting in net sales growth of 3% and organic1 sales growth of 11% for the segment. Sales from new products rose to $1.0 billion, up $265 million versus prior year, led by Enlist™, Arylex™, and Rinskor™ herbicides and Isoclast™ insecticide. By the end of 2021, we expect to generate $1.3 billion, or $300 million in incremental revenue, from our new Crop Protection product launches. In Seed, continued penetration of new technology drove year- over-year sales gains of 2% and organic1 sales increases of 6%, with organic1 sales gains in all regions–demonstrating the strength of our product offering and price for value strategy. Industry- Leading Our multi-brand, multi-channel distribution approach continues to serve us well, enabling us to provide greater Innovation choice and value for our customers. Since the initial Since the merger, we have launch of our Brevant™ brand through the retail channel in Latin America, we have driven 15% launched 16 highly innovative growth in corn seed volume. In 2021, we will products. These include key Seed continue to accelerate our U.S. retail rollout, technologies such as Qrome® and which we expect to increase our market share from 5% to 20% over the long- PowerCore® ULTRA, both driving our market term, representing an incremental share in corn, as well as our Enlist E3™ 4 soybean. earnings opportunity of more than $200 million. We also brought novel Crop Protection solutions to market, including Rinskor™, Arylex™ and Inatreq™, which reflect our continued commitment to sustainable chemistry. 2 CORTEVA ANNUAL REPORT 2020 Capitalizing on Our Competitive Advantages to Drive Margin Growth We are making solid progress in driving margin growth by maximizing the potential of our product innovation. Operating Strong Financial EBITDA1 rose 5% in 2020. Looking ahead, we are well-positioned to carry this momentum forward. Performance We continue to advance our trait independence strategy in $ 2020 Net Sales our Seed segment. Our proprietary Enlist™ system, which 14.2B represents a $400 million incremental earnings opportunity at peak, reflects the power of Corteva’s integrated portfolio $ 2020 Operating and offers a strong competitive advantage. In 2020, Enlist 2.1B EBITDA1 E3™ 4 represented 17% of Corteva’s soybean units in North America,3 exceeding our expectations, and the full Enlist™ system including our Enlist™ One® and Duo® herbicides % 2020 generated $440 million in sales for the year. 3 Net Sales We advanced our ongoing Crop Protection portfolio % 2020 Organic1 transformation efforts in 2020. Sales from patented and 8 Sales differentiated products represented 36% of total sales, up 5% versus 2019—and we expect that figure to reach 50% by Cost & 2023. Additionally, we took steps in 2020 toward further $ Productivity accelerating our innovation capabilities and strengths in 230M Delivered in 2020 high-margin end-markets, such as biologicals, where we anticipate increasing growth over the longer term. $ Returned to Shareholders in 20205 Our digital capabilities continue to serve as a catalyst for 663M further enhancing our innovation advantage and operating leverage. At the same time, the ongoing ramp-up of our $ 2020 Cash Flow proprietary digital tools focused on driving farm yield and 2.1B from Operations profitability strengthened our customer relationships and enabled us to quickly navigate the unexpected shift toward contactless customer engagement in 2020. % Return on 19.1 Invested Capital2 Attaining a Best-in-Class Cost Structure Across our operations, we remain laser-focused on reducing costs and driving operational