CTVA · 8-K · 20260806PR338406

Income Tax Rate Changes

Corteva, Inc. · 2026-08-06 · Importance 20 · Surprise 24

The pro forma tax adjustment reduces income tax expense by $13 million for the three months ended March 31, 2026 and by $73 million for the year ended December 31, 2025. The adjustments were calculated by applying statutory tax rates in the relevant jurisdictions to the pre-tax pro forma adjustments. Pro forma 2025 income tax expense is $259 million, compared with historical Corteva expense of $484 million after the $152 million Crop Protection reduction and the $73 million pro forma adjustment. The tax adjustments remain preliminary and may change if the underlying pro forma adjustments change.

Key facts

• The pro forma adjustments recorded approximately $156 million, net, within other current assets related to pre-Separation tax liabilities and receivables per the Tax Matters Agreement. source
• Provision for income taxes on continuing operations for Pro Forma Year Ended December 31, 2024 (Vylor) was $335 million (historical $412 million less $77 million for Separation). source
• Provision for (benefit from) income taxes on continuing operations - Vylor for Year Ended December 31, 2025 was $259 million. source
• Preliminary income tax pro forma adjustments reflect $13 million for the three months ended March 31, 2026 and $73 million for the year ended December 31, 2025. source
• Provision for (benefit from) income taxes on continuing operations for Pro Forma Year Ended December 31, 2023 (Vylor) was $236 million (historical $152 million plus $84 million for Separation). source
• Provision for income taxes on continuing operations - Vylor for the Three Months Ended March 31, 2026 was $98 million. source
• The pro forma income tax adjustments were determined by applying the respective statutory tax rates to pre-tax pro forma adjustments in the applicable jurisdictions. source