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CORTEVA ™ * Corteva Reports Strong Results for First Quarter 2021 - Increases Net Sales Guidance agriscience WILMINGTON , Del . , May 4 , 2021 - Corteva , Inc. ( NYSE : CTVA ) ( “ Corteva " or the " Company " ) today reported financial results for the three months ended March 31 , 2021 . 1Q 2021 Results Overview GAAP vs. 1Q 2020 NON - GAAP vs. 1Q 2020 Net Sales $ 4.18B + 6 % First Quarter 2021 Highlights Ongoing penetration of new products , coupled with favorable overall market fundamentals , drove volume and price gains globally . First quarter 2021 net sales and organic¹ sales both increased 6 % versus prior year . Gains were reported in most regions , led by double - digit growth in Latin America . Organic¹ Sales $ 4.20B + 6 % • Sales of new and differentiated products drove volume and price gains in Crop Protection . Net sales and organic¹ sales both grew 12 % , with double - digit net sales increases in every region . New product sales in Crop Protection increased more than $ 120 million compared to prior year . ( $ in millions , except where noted ) • Seed net sales rose 2 % and organic¹ sales grew 3 % year over year , driven by continued new product penetration and local price gains which more than offset the impact of seasonal timing of seed deliveries in North America² . Net Sales North America EMEA² Latin America Asia Pacific 1Q 2021 $ 4,178 $ 1,743 $ 1,602 $ 518 $ 315 News Release 1Q 2021 1Q 2020 Income from Cont . Ops ( After Tax ) $ 613M + 118 % Operating EBITDA¹ $ 904M + 14 % $ 3,956 $ 1,765 $ 1,467 $ 434 $ 290 GAAP income and earnings per share ( EPS ) from continuing operations were $ 613 million and $ 0.81 per share for the first quarter 2021 , respectively . EPS Strong price execution and volume gains , which collectively more than offset cost headwinds , drove an Operating EBITDA¹ increase of 14 % to $ 904 million versus the same quarter last year . • The Company experienced market - driven cost headwinds in the quarter , including cost increases in freight and logistics , as well as raw materials . These headwinds were partially offset by the Company's ongoing execution on its productivity programs . $ 0.81 + 125 % • SG & A expense as a percentage of sales improved approximately 160 basis points . % Change Operating EPS¹ $ 0.79 + 34 % 6 % ( 1 ) % 9 % 19 % 9 % Management increased full year 2021 net sales guidance³ to a range of $ 14.6 to $ 14.8 billion - and affirmed full year 2021 Operating EBITDA¹ guidance in the range of $ 2.4 billion to $ 2.5 billion . % 6 % ( 2 ) % 6 % 38 % 9 % Organic¹ Change 1. Organic Sales , Operating EPS and Operating EBITDA are non - GAAP measures . See page A - 5 for further discussion . 2. North America is defined as U.S. and Canada . EMEA is defined as Europe , Middle East and Africa . 3. Corteva is not able to reconcile its forward - looking non - GAAP financial measures to its most comparable U.S. GAAP financial measures , as it is unable to predict with reasonable certainty items outside of its control , such as Significant Items , without unreasonable effort . 1