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DuPont de Nemours, Inc.

For the period ended Jun 30, 2025. Filed Aug 5, 2025.

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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2025 · Filed Aug 5, 2025

DD$156.88+1.1%Stored close · as of Nov 10, 2026

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Segments and Geographic Regions

NOTE 21 -SEGMENTS AND GEOGRAPHIC REGIONS

The Company's segments are aligned with the market verticals they serve, while maintaining integration and innovation strengths within strategic value chains. DuPont is comprised oftwo operating segments: ElectronicsCo and IndustrialsCo. Major products by segment include: ElectronicsCo (CMP pads and slurries, photoresists and advanced coatings for lithography, removers and cleaners; dielectric and metallization solutions for advanced chip packaging, specialty thermal materials and laminates); and IndustrialsCo (medical packaging, medical silicones, specialty medical devices, water purification and separation, water filtration and purification resins, flexible packaging products, nonwovens, aramids, construction materials, auto adhesives and fluids). The Company operates globally in substantially all of its product lines. Transfers of products between operating segments are generally valued at cost, to the extent such transfers are applicable.

The Company's measure of profit/loss for segment reporting purposes is Operating EBITDA as this is the manner in which the Company's chief operating decision maker ("CODM") assesses performance and allocates resources. The CODM utilizes Operating EBITDA to assess financial performance and allocate resources by comparing actual results to historical and previously forecasted results. The Company defines Operating EBITDA as earnings (i.e., “Income from continuing operations before income taxes") before interest, depreciation, amortization, non-operating pension / OPEB benefits / charges, and foreign exchange gains / losses, excluding future reimbursable indirect costs, and adjusted for significant items. Reconciliations of these measures are provided on the following pages.

The information below reflects the 2025 Segment Realignment structure. Refer to Note 1 for further details.

Segment Revenue, Significant Segment Expenses and Segment Operating EBITDAThree Months Ended June 30,
20252024
(In millions)ElectronicsCoIndustrialsCoElectronicsCoIndustrialsCo
Segment net sales$1,170$2,087$1,104$2,067
Less 1:
Cost of sales$632$1,402$598$1,392
Selling, general and administrative expenses143234161231
Research and development expenses87557857
Amortization of intangibles & other segment items 251915992
Add:
Equity in earnings of nonconsolidated affiliates$14$8$13$8
Depreciation and amortization 3102196107192
Segment operating EBITDA$373$509$328$495
Segment Revenue, Significant Segment Expenses and Segment Operating EBITDASix Months Ended June 30,
20252024
(In millions)ElectronicsCoIndustrialsCoElectronicsCoIndustrialsCo
Segment net sales$2,288$4,035$2,088$4,014
Less 1:
Cost of sales$1,219$2,720$1,146$2,728
Selling, general and administrative expenses274453288454
Research and development expenses171107150109
Amortization of intangibles & other segment items 2106181117184
Add:
Equity in earnings of nonconsolidated affiliates$23$12$23$17
Depreciation and amortization 3205387213378
Segment operating EBITDA$746$973$623$934
  1. The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision maker.

  2. Other segment items include immaterial other gains or losses and miscellaneous income and expenses.

  3. Depreciation is a reconciling item to Segment Operating EBITDA as it is included within Cost of sales, Selling, general and administrative expenses and Research and development expenses.

Total reportable segment net sales are $3,257 million and $3,171 million for the three months ended June 30, 2025, and 2024, respectively, and $6,323 million and $6,102 million for the six months ended June 30, 2025, and 2024, respectively.

Reconciliation of Segment Operating EBITDA to Income from Continuing Operations Before Income Taxes · Three Months Ended June 30, · Six Months Ended June 30,
In millions · 2025 · 2024 · 2025 · 2024
ElectronicsCo segment operating EBITDA$373$328$746$623
IndustrialsCo segment operating EBITDA509495973934
Total segment operating EBITDA$882$823$1,719$1,557
+Corporate Operating EBITDA 1$(23)$(25)$(72)$(77)
-Depreciation and amortization296298589589
+Interest income 217213541
-Interest expense 38499166195
+Non-operating pension/OPEB benefit credits13410
+Foreign exchange (losses) gains, net(18)(4)(21)—
+Significant items charge(173)(125)(1,033)(184)
Income (loss) from continuing operations before income taxes$306$296$(123)$563
  1. Corporate includes certain enterprise and governance activities including non-allocated corporate overhead costs and support functions, leveraged services, non-business aligned litigation expenses, DuPont's equity interest in Derby related to the Delrin® Divestiture and other costs not absorbed by reportable segments.

  2. The three and six months ended June 30, 2025 excludes accrued interest income earned on employee retention credits. Refer to details of significant items below.

  3. The six months ended June 30, 2025 excludes interest rate swap basis amortization. Refer to details of significant items below.

The following tables summarize the pre-tax impact of significant items by segment that are excluded from Operating EBITDA above:

Significant Items by Segment for the Three Months Ended June 30, 2025ElectronicsCoIndustrialsCoCorporateTotal
In millions
Restructuring and asset related charges - net 1$(2)$—$—$(2)
Acquisition, integration and separation costs 2——(154)(154)
Interest rate swap mark-to-market loss 3——(27)(27)
Other benefits (credits), net 4—7310
Total$(2)$7$(178)$(173)
  1. Acquisition, integration and separation costs related to the Intended Electronics Separation.

  2. Includes the non-cash mark-to-market net loss related to the 2022 Swaps and 2024 Swaps and net interest settlement loss related to the 2022 Swaps. See Note 19 for additional information.

  3. Reflects benefits related to an adjustment of the Donatelle contingent earn-out liability ($12 million pre-tax) and accrued interest earned on employee retention credits ($3 million pre-tax), offset bylegal costs within the IndustrialsCo segment associated with a pending intellectual property matter ($5 million pre-tax).

Significant Items by Segment for the Three Months Ended June 30, 2024ElectronicsCoIndustrialsCoCorporateTotal
In millions
Restructuring and asset related charges - net 1$4$(16)$4$(8)
Inventory write-offs 2—1—1
Acquisition, integration and separation costs 3—(3)(2)(5)
Loss on debt extinguishment 4——(74)(74)
Interest rate swap mark-to-market loss 5——(39)(39)
Total$4$(18)$(111)$(125)
  1. Reflects an adjustment to raw material inventory write-offs recorded in “Cost of Sales” in connection with restructuring actions related to plant line closures within the IndustrialsCo segment.

  2. Acquisition, integration and separation costs related to the Spectrum Acquisition and the Intended Electronics Separation.

  3. Reflects the loss on extinguishment of debt related to the partial redemption of an aggregate principal amount of the 2038 Notes. Refer to Note 13 for further details.

  4. Includes the mark-to-market loss related to the 2022 Swaps and 2024 Swaps. Refer to Note 19 for further details.

Significant Items by Segment for the Six Months Ended June 30, 2025ElectronicsCoIndustrialsCoCorporateTotal
In millions
Restructuring and asset related charges - net 1$(7)$(12)$(30)$(49)
Acquisition, integration and separation costs 2—1(280)(279)
Goodwill impairment charge 3—(768)—(768)
Interest rate swap mark-to-market gain 4——5050
Other benefits (credits), net 5—7613
Total$(7)$(772)$(254)$(1,033)
  1. Acquisition, integration and separation costs related to the Intended Electronics Separation and Spectrum Integration.

  2. Reflects a non-cash goodwill impairment related to the Aramids reporting unit within the IndustrialsCo Segment. See Note 12 for additional information.

  3. Includes the non-cash mark-to-market gain(loss) related to the 2022 Swaps and 2024 Swaps. The six months ended June 30, 2025 also includes, interest settlement loss related to the 2022 Swaps and basis amortization on the 2022 Swaps ($1 million pre-tax, reflected in interest expense). See Note 19 for additional information.

  4. Reflects benefits related to an adjustment of the Donatelle contingent earn-out liability ($12 million pre-tax) and accrued interest earned on employee retention credits ($6 million pre-tax), offset by legal costs within the IndustrialsCo segment associated with a pending intellectual property matter ($5 million pre-tax).

Significant Items by Segment for the Six Months Ended June 30, 2024ElectronicsCoIndustrialsCoCorporateTotal
In millions
Restructuring and asset related charges - net 1$(4)$(38)$(5)$(47)
Inventory write-offs 2—(24)—(24)
Acquisition, integration and separation costs 3—(6)(2)(8)
Loss on debt extinguishment 4——(74)(74)
Interest rate swap mark-to-market loss 5——(39)(39)
Income tax items 6——88
Total$(4)$(68)$(112)$(184)
  1. Reflects raw material inventory write-offs recorded in “Cost of Sales” in connection with restructuring actions related to plant line closures within the IndustrialsCo segment.

  2. Acquisition, integration and separation costs related to the Spectrum Acquisition and the Intended Electronics Separation.

  3. Reflects the loss on extinguishment of debt related to the partial redemption of an aggregate principal amount of the 2038 Notes. Refer to Note 13 for further details.

  4. Includes the mark-to-market loss related to the 2022 Swaps and 2024 Swaps. Refer to Note 19 for further details.

  5. Reflects the impact of an international tax audit.

Segment and Corporate InformationElectronicsCoIndustrialsCoCorporateTotal
In millions
Assets of continuing operations$13,800$19,041$3,718$36,559
Investment in nonconsolidated affiliates405280106791
Assets of continuing operations$13,599$19,345$3,692$36,636
Investment in nonconsolidated affiliates382278118778
Capital Expenditure Reconciliation to Consolidated Financial StatementsThree Months Ended June 30,Six Months Ended June 30,
In millions2025202420252024
ElectronicsCo$70$43$121$83
IndustrialsCo8062132116
Segment totals$150$105$253$199
Accrual to cash adjustment 1(34)(3)112110
Total$116$102$365$309
  1. Reflects the incremental cash spent or unpaid on capital expenditures; total capital expenditures are presented on a cash basis.
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