Corteva, Inc.

NOTE 3 -REVENUE

Remaining Performance Obligations

Remaining performance obligations represent the transaction price allocated to unsatisfied or partially unsatisfied performance obligations. The company applies the practical expedient to disclose the transaction price allocated to the remaining performance obligations for only those contracts with an original duration of more than one year. The transaction price allocated to remaining performance obligations with an original duration of more than one year related to material rights granted to customers for contract renewal options were $147 million, $150 million and $135 million at March 31, 2026, December 31, 2025 and March 31, 2025, respectively. The company expects revenue to be recognized for the remaining performance obligations evenly over a period ofsix years.

Contract Balances

Contract liabilities primarily reflect deferred revenue from prepayments under contracts with customers where the company receives advance payments for products to be delivered in future periods. Corteva classifies deferred revenue as current or noncurrent based on the timing of when the company expects to recognize revenue. Contract assets primarily include amounts related to conditional rights to consideration for completed performance not yet invoiced. Accounts receivable are recorded when the right to consideration becomes unconditional.

1. Included in other current assets in the interim Consolidated Balance Sheets.

2. Included in other assets in the interim Consolidated Balance Sheets.

3. Included in other noncurrent obligations in the interim Consolidated Balance Sheets.

Revenue recognized during the three months ended March 31, 2026 and 2025 from amounts included in deferred revenue at the beginning of the period was $1,268 million and $1,174 million, respectively.

Disaggregation of Revenue

Corteva's operations are classified intotwo operating segments: Seed and Crop Protection. The company disaggregates its revenue by major product line and geographic region, as the company believes it best depicts the nature, amount and timing of its revenue and cash flows. Net sales by major product line are included below:

Sales are attributed to geographic regions based on customer location. Net sales by geographic region and segment are included below:

1. Represents U.S. and Canada.

2. Europe, Middle East and Africa (“EMEA”).