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1ST HALF: CORTEVA'S SALES UP 2%, RETURNS TO PROFITABILITY
Source: Corteva Agriscience news release

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Wilmington, DE - ("Corteva" or the "Company") today reported financial results for the second quarter and first half ended June 30, 2020.

"Our results in the first half of 2020 highlight the strength of our global execution engine and our operational resilience in the face of historic market volatility. In the first half, we experienced sharp swings in commodity prices and foreign currency rates due to COVID-19, renewed trade and regulatory uncertainty, and new regulatory challenges. Amidst these external pressures, we delivered sales and earnings growth.

"We demonstrated strong price execution in Seed, supply chain flexibility, and solid market demand for our balanced and differentiated new product portfolios in both segments. Our results were strengthened by diligent efforts to further drive down costs, mitigate currency headwinds, and preserve cash. Further, our balance sheet and liquidity position remain strong, supported by targeted actions taken in the quarter. I am especially proud of our teams around the world, executing with focus and integrity in a rapidly evolving landscape, to ensure continued support for our customers and communities."

"Looking ahead, we will increase value for stakeholders through continued progress on our strategic objectives - positioning ourselves well to continue growing our presence in key channels and markets. Our priorities in the second half of 2020 include accelerating productivity actions and supporting the launch of key innovations, such as our Enlist weed control system, that will enable our customers to drive their profitability."

- James C. Collins, Jr., Corteva Chief Executive Officer


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