About Corteva

Corteva, Inc. (Corteva) operates as a global provider of seed and crop protection solutions focused on the agriculture industry and contributing to a healthier, more secure and sustainable food supply. With one of the broadest and most productive new product pipelines in the agriculture industry, Corteva is focused on progressing science-based innovations, which aim to deliver a wide range of improved agriculture products and services to its customers. The company’s investment in technology-based and solution-based product offerings allows it to meet farmers’ evolving needs while ensuring that its investments generate sufficient returns. Meanwhile, through Corteva’s unique routes to market, the company continues to work face-to-face with farmers around the world to understand their needs. The company's broad portfolio of agriculture solutions fuels farmer productivity in approximately 125 countries. Business Segments The company’s operations are managed through two reportable segments: Seed and Crop Protection. The Seed segment develops and supplies commercial seed combining superior germplasm with advanced traits to produce high yield potential for farmers around the world. The Crop Protection segment supplies products to protect crop yields against weeds, insects and disease, enabling farmers to achieve optimal results. The combination of these leading platforms creates one of the broadest portfolios of agriculture solutions in the industry. Seed segment The Seed segment is a global leader in developing and supplying commercial seed combining advanced germplasm and traits that produce optimum yield for farms around the world. The company’s Seed 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 trait technologies that improve resistance to weather, disease, insects and enhance food and nutritional characteristics, herbicides used to control weeds, and digital solutions that assist farmer decision-making to help maximize yield and profitability. Products and Brands The Seed segment’s major brands and technologies, by key product line, are listed below: Seed Solutions Brands: Pioneer seeds; Brevant seeds; Dairyland Seed; Hoegemeyer hybrids; Nutech seed; Seed Consultants; AgVenture brand; Cordius, Licensing Division of Corteva Agriscience, DUO hybrid corn, NEXSEM corn, Nord semillas; PhytoGen cotton; and Pannar brand corn. Seed Solutions Traits and Technologies: ENLIST corn; ENLIST E3 soybeans; ENLIST cotton; Enlist weed control system; EXZACT Precision Technology; Herculex Insect Protection; Herculex XTRA Insect Protection; Leptra insect protection technology offering protection against above ground pests; PowerCore corn, PowerCore Ultra corn, PowerCore Enlist corn, PowerCore Ultra Enlist corn, POWERCORE trait technology family of products; Optimum AcreMax family of products offering above and below ground insect protection; REFUGE ADVANCED trait technology; SMARTSTAX trait technology; NEXERA canola trait; Omega-9 Oils; Pioneer brand Optimum AQUAmax products; Pioneer brand A-Series soybeans; Pioneer brand Plenish high oleic soybeans; ExpressSun herbicide tolerant trait; Pioneer Protector products for canola, sunflower and sorghum; Pioneer MAXIMUS rapeseed hybrids; Qrome corn; Clearfield canola; PROPOUND advanced canola meal; Vorceed Enlist products; Conkesta; Conkesta E3 soybeans; WideStrike Insect Protection; WideStrike 3 Insect Protection; Inzen trait; BOLT technology; STS herbicide tolerant trait; MAXIMUS canola hybrids; CottonBest program; Brevant Protector products; Optimum GLY herbicide tolerance trait Optimum AcreMax insect protection; Optimum AcreMax Leptra insect protection; Optimum AcreMax Xtra insect protection; Optimum AcreMax XTreme insect protection; Bovalta BMR products; Optimum Intrasect insect protection; and Optimum Leptra insect protection. Other: LumiGEN seed treatments; Lumisena; Lumiverd; Lumiscend; Lumiscend Pro; Lumisure; Lumiflex; Lumiante; LumiTreo; Dermacor X-100; Vertisan ST; Lumiderm; Lumivia CPL; Lumivia; and Lumialza. In connection with the validation of breeding plans and large-scale product development timelines focused on rapidly ramping up differentiated technology solutions, in 2019 the company began accelerating the ramp up of the Enlist E3 trait platform in the company’s soybean portfolio mix across all brands, including Pioneer brands. During the five year ramp-up period, the company began to significantly reduce the volume of products with the Roundup Ready 2 Yield and Roundup Ready 2 Xtend herbicide tolerance traits beginning in 2021, with expected minimal use of the Roundup Ready 2 Yield and Roundup Ready 2 Xtend traits thereafter for the remaining term of the non-exclusive license with the Monsanto Company. Distribution The Seed segment has a diverse worldwide network, which markets and distributes the company’s brands to customers, primarily through its multi-channel, multi-brand strategy, which includes four differentiated channels: Pioneer agency model, regional brands, and retail brands, as well as third parties through licensing and distribution channels. The Pioneer agency model is unique to Corteva and represents sales made directly to farmers via independent sales representatives. Through this agency model, the company interacts directly with farmers at multiple points in the growing season, from prior to planting all the way through harvest. These regular interactions enable the company to provide the advice and service farmers need while giving the company real-time insights into the customers’ future ordering decisions. The company’s regional brands connect to customers through regional brand employees and farmer-dealer networks. Retail brands provide a one-stop shop for seed and chemistry solutions and may include sales to distributors, agricultural cooperatives, and dealers. Finally, Corteva out-licenses traits and germplasm to third parties. Crop Protection segment The Crop Protection segment serves the global agricultural input industry with products that protect against weeds, insects and other pests, and disease; and that improve overall crop health both above and below ground via nitrogen management and seed-applied technologies. The Crop Protection segment's solutions and digital solutions provide farmers the tools they need to improve productivity and profitability, and help keep fields free of weeds, insects and diseases. The company is a leader in global herbicides, insecticides, nitrogen stabilizers, pasture and range management herbicides and biologicals. Products and Brands The crop protection segment’s major brands and technologies, by key product line, are listed below: Insect and Nematode Management: CLOSER; DELEGATE; INTREPID; ISOCLAST; EXALT; PEXALON; TRANSFORM; VYDATE; OPTIMUM; Reklemel; SALIBRO; PYRAXALT; QALCOVA; JEMVELVA; RADIANT; SENTRICON; ENTRUST SC; GF-120; and TRACER. Disease Management: APROACH PRIMA; VESSARYA; APROACH; APROACH POWER; VIOVAN; TALENDO; VERBEN, EQUATION PRO; EQUATION CONTACT; ZORVEC; INATREQ; CURZATE; TANOS, BIM MAX; BEAM; FONTELIS; ACANTO; GALILEO; VERPIXO; and ZETIGO PRM. Weed Control: ARIGO; ARYLEX; ENLIST weed control system; ENLIST ONE; BROADWAY; RINSKOR; MUSTANG; GALLANT; VERDICT; KERB; PIXXARO; QUELEX; KORVETTO; REXADE; GALLERY; SNAPSHOT; GRANITE; PINDAR GT; VIPER; BELKAR; WIDEMATCH; PERFECTMATCH; CLINCHER; GARLON; TORDON; REMEDY; PASTAR; SONIC; TEXARO; KEYSTONE; PACTO; LIGATE; DIMENSION; TOPSHOT; RICER; LOYANT; ROYANT; JAGUAR; AGIXA, NOVIXID, NOVLECT; REALM Q; LONTREL; GRAZON; PAXEO; RESICORE; SPIDER; STARANE; and SURESTART. Nitrogen Management: INSTINCT and N-SERVE Nitrogen Stabilizer. Other: LANDVisor. Seasonality Corteva’s sales are generally strongest in the first half of the calendar year (year ended December 2023), which aligns with the planting and growing season in the northern hemisphere. The company typically generates about 65 percent of its sales in the first half of the calendar year, driven by northern hemisphere seed and crop protection sales. The company generates about 35 percent of its sales in the second half of the calendar year, led by seed sales in the southern hemisphere. The seasonality in sales impacts both the Seed and Crop Protection segments. The company’s direct distribution channel, where products are shipped to farmers, is more affected by planting delays than its competitors. Accounts receivable tends to be higher during the first half of the year, consistent with the peak sales period in the northern hemisphere, with cash collection focused in the fourth quarter. Intellectual Property Patents & Trademarks As of December 31, 2023, the company owned about 5,900 U.S. patents and about 11,500 active patents outside of the U.S. In addition to its owned patents, the company owns over 4,400 patent applications. The company also owns or has licensed a substantial number of trade names, trademarks and trademark registrations in the United States and other countries, including approximately 12,200 registrations and 1,000 pending trademark applications in a number of jurisdictions. Regulatory Considerations The company's European operations are subject to the European chemical regulation REACH (Registration, Evaluation, Authorisation, and Restriction of Chemicals) and the CLP (Classification, Labeling, and Packaging of Substances and Mixtures). Research and Development (R&D) The company’s R&D expense was $1,337 million for the year ended December 31, 2023. Competition The company’s key competitors include BASF, Bayer, FMC, Syngenta and ChemChina. History Corteva, Inc. was incorporated in Delaware in 2018.