Investor Day Randy Stone, President - November 8, 2018

 
Investor Day Randy Stone, President - November 8, 2018
Investor Day
November 8, 2018
Tr a n s p o r t a t i o n & Ad va n c e d P o l ym e r s

ProductStone,
Randy   or business
               President
                    name
Investor Day Randy Stone, President - November 8, 2018
TRANSPORTATION & ADVANCED POLYMERS KEY MESSAGES
Transforming Industries and Improving Lives through Material Science

                                                             ›     12% Annual revenue growth*
               Superior Financial
                                                             ›     20% Annual adjusted operating EBITDA growth**
               Performance*                                  ›     >360 Basis point margin improvement**

                                                             ›     95% Product line is specialty, engineered, or custom-formulated
               Specialty
                                                             ›     50% Increase in growth capital for high return businesses
               Product Line                                  ›     39 Global manufacturing assets, strong and balanced regional footprint

                                                             ›     #1 Leadership position in Automotive, Electronics, Industrial & Consumer
               Advantaged
                                                             ›     >2X Growth rate above global autobuilds
               Market Positions                              ›     ~3,000 Customer development projects to drive growth

          2016 and 2017 financial information is on a pro forma basis
          *Represents results from 2016-2018E                                                      DuPont Transportation & Advanced Polymers   2
          **Adjusted operating EBITDA excludes non-operating pension/OPEB costs
Investor Day Randy Stone, President - November 8, 2018
TRANSPORTATION & ADVANCED POLYMERS OVERVIEW

LARGE & PROFITABLE (2018E)                                                                          NET SALES (2018E)

                                                                             BY BUSINESS                     SOURCES OF COMPETITIVE ADVANTAGE

$5.7B                29%                                                                                     › Leading customer positions in high growth markets

  NET SALES         ADJUSTED OP.                                                                             › Innovation based on advantaged technology platform,
                                                                         29%                                   application development capabilities
                    EBITDA MARGIN                                                   Performance Solutions
                                                     47%                            Performance Resins       › Specialty product portfolio
                                                                                    Engineering Polymers
 24%
              29%                                                       24%                                  GROWTH STRATEGY
                              41%
                                                                                                             › Extend leadership in attractive growth markets
                                                                                                               including auto electrification and healthcare
       6%
                                                                                                             › Disciplined capital deployment
                                                                  BY MARKET SEGMENTS
                                                                                                             › Drive innovation portfolio
                                                                                    Automotive
                                                                  4%
                                                             5%
                                                                                    Advanced Mobility
                                                      16%                    34%                             PEERS
                                                                                    Electronics
                                                                                                             › 3M
                                                                                    Industrial
~5,300                   39                            18%
                                                                                    Healthcare
                                                                                                             › EMS
                                                                                                             › Hexcel
 COLLEAGUES         MANUFACTURING                                      23%
                        SITES                                                       Consumer                 › Victrex
                                                                                                            DuPont Transportation & Advanced Polymers              3
              Adjusted operating EBITDA excludes non-operating pension/OPEB costs
Investor Day Randy Stone, President - November 8, 2018
STRONG GLOBAL BUSINESSES
                              Performance Resins                               Engineering Polymers                           Performance Solutions
Value Proposition

                    Unique products & technology and deep            Unrivaled engineering plastics portfolio,       Highly differentiated specialty businesses
                        application expertise for highly             global presence and leading formulation,           in critical industry applications with
                           demanding applications                        design and processing expertise                        secular market growth

                                                                         ›   Zytel®            ›   Crastin®              ›   Betamate®       ›   Molykote®
                       ›   Delrin®             ›   Vamac®
                                                                         ›   Zytel® HTN        ›   Rynite®               ›   Betaseal®       ›   Kalrez®
                       ›   Hytrel®             ›   Multibase
Brands

                                                                         ›   Specialty         ›   Filaments             ›   Medical         ›   Vespel®
                                                                             Nylon                                           Silicones

                                     Market Growth                                    Market Growth                                 Market Growth
                                        GDP+                                             GDP+                                         ~2x GDP

                                                                                                               DuPont Transportation & Advanced Polymers      4
                                 Source: Internal DuPont estimates
Investor Day Randy Stone, President - November 8, 2018
ADDRESSING THE WORLD’S MOST CRITICAL NEEDS
                                                                                                                                                                Market
         Global Megatrends                                                                                   Our Solution Space                                 Size**
                                                                                                            Automotive
                                                                                                            › Lightweighting           › Crash safety
  Automotive
  Electrification
                                      Nearly half of cars
                                      will be H/E by 2030                                                   › Fuel efficiency & EV     › Comfort
                                                                                                                                                                $12B
                                                                                                              range

                                                                                                            Future Mobility
                                                                                                            › Structural adhesives,  › Materials for power,
                                                                                                              thermal management for   infrastructure, signal
                                                                                                                                                                $6B
  Renewability/                                                                                               batteries                electronics
  Sustainability                      70% higher content*

                                                                                                            Electronics
                                                                                                            › Semiconductor            › Signal electronics
                                                                                                              manufacturing            › Handheld devices
                                                                                                                                                                $3B
                                                                                                            › Connectors, cables
                                      1.1 billion 5G
  Connectivity
                                      connections by 2025                                                   Industrial & Consumer
                                                                                                            › Connected appliances     › Oil & gas              $4B
                                                                                                            › Aero engines

  Health and                          65+ population                                                        Healthcare
  Wellness                            doubles by 2030                                                       › Medical devices          › Transdermal drug       $1B
                                                                                                            › Bio pharma processing      delivery

                    *Additional revenue content per vehicle increase in hybrid / electric cars versus ICE
                    ** 2017 addressable market size                                                                         DuPont Transportation & Advanced Polymers    5
                    Source: IHS Data; Internal DuPont estimates
Investor Day Randy Stone, President - November 8, 2018
FUTURE MOBILITY DRIVES REVENUE GROWTH
REVENUE PER VEHICLE INCREASES BY >50% FROM INTERNAL COMBUSTION ENGINES TO
ELECTRIC VEHICLES

                                                 ICE
                                     $190-$200/vehicle

                                              Hybrid
                                     $300-$320/vehicle

                                                BEV
                                     $320-$340/vehicle

          ICE = Internal Combustion Engine
          BEV = Battery Electric Vehicle
                                                         DuPont Transportation & Advanced Polymers   6
          Source: Internal DuPont estimates
Investor Day Randy Stone, President - November 8, 2018
DUPONT MOBILITY SOLUTIONS TO MOVE AHEAD™
                                Future Mobility                       Time / Requirements
  Industry Needs                 Progression                                to Scale*                                             DuPont Capabilities

                                HYBRID / EV                                        Ongoing

                                PARTIAL
                                                                                   Ongoing
                                AUTOMATION
• CONNECTIVITY                                                                                                               • ADHESIVES

• LIGHTWEIGHTING                                                                   2022-24                                   • ARAMIDS
                                ELECTRIC
                                                                            Battery range; Total
                                VEHICLES
• THERMAL
                                                                            Cost of Ownership                                • ELECTRONIC MATERIALS
  MANAGEMENT
                                                                                                                             • DISPLAY TECHNOLOGIES
                                                                                   2028-30
                                COMPLETE
• NOISE, VIBRATION,                                                              Regulation;
  AND HARSHENESS
                                AUTOMATION
                                                                                Infrastructure                               • ENGINEERING POLYMERS

• SAFETY                                                                                                                     • SILICONES
                                                                                     2030
                                SHARED
                                                                           Insurance Liability;
                                MOBILITY
                                                                          Consumer Acceptance

                   * Scale defined as 20% of new yearly car build penetration or 20% of total miles driven
                                                                                                             DuPont Transportation & Advanced Polymers   7
Investor Day Randy Stone, President - November 8, 2018
PROVIDING INDUSTRY LEADING INNOVATION
KALREZ® & VESPEL® HIGH PERFORMANCE PARTS

                              KALREZ®                                                       VESPEL®

                                                STRONG GROWTH                                            STRONG GROWTH

                                          Profitable & Growing                                      Profitable & Growing
                                          Market                                                    Market

                                          ~10%                                                      ~8%
                                          CAGR growth until 2022                                    CAGR growth until 2022

                         Value Proposition                                               Value Proposition

› Specialty seals for the most demanding applications              › Custom engineered solutions for challenging wear and friction
› Resistant to 1,800 chemicals                                       applications

› Withstands temperatures up to 325 degrees Celsius                › Non-melting engineering plastic – stable up to 370 degrees
                                                                     Celsius

                Source: Internal DuPont estimates
                                                                                   DuPont Transportation & Advanced Polymers         8
Investor Day Randy Stone, President - November 8, 2018
DELIVERING COST & GROWTH SYNERGIES

Combining the strengths & capabilities of two                          GROWTH SYNERGY DRIVERS

leading portfolios to drive innovation in mobility,
healthcare, electronics, and industrials                                      Cross-Technology Innovation

                  ›   Complementary automotive portfolio enhances             Cross-Selling Opportunities
                      leadership position in auto electrification
 Market
 Leadership       ›   Healthcare market leadership in silicones
                      provides access to expand engineered                    Capacity Expansion / Release
                      polymers solutions                                      for Growth Businesses

                  ›   Differentiated automotive systems solutions by
                      combining engineered polymers and adhesives                   COST SYNERGIES
 Innovation
                  ›   Unique healthcare wearable device solutions                   › Increased manufacturing productivity
 Platforms
                      using engineered polymers, silicones, and                     › Site consolidations
                      adhesives

                                                                           DuPont Transportation & Advanced Polymers    9
Investor Day Randy Stone, President - November 8, 2018
DRIVING SUSTAINABLE TOP & BOTTOM LINE GROWTH

            FINANCIAL SUMMARY ($ BILLIONS)                                                          MEDIUM-TERM OUTLOOK

                                                         $5.1                     $5.7
                              $4.5
                                                                                                       1.5x GDP growth
NET
SALES                                                                                                  › Accelerate volume growth through
12% CAGR                                                                                                 capacity release
                            2016A                      2017A                      2018E     Sales
                                                                                           Growth      › Mix enrichment strategy for core
                                                                                                         products
                                                                                   $1.6
ADJUSTED                      $1.1
                                                         $1.3                                          › Delivery of innovation pipeline projects
OPERATING                                                                                                and growth synergy opportunities
EBITDA
20% CAGR
                            2016A                      2017A                      2018E                › Leverage lean operating model &
                                                                                                         productivity mindset
                                                                                   29%
ADJ. OPERATING                                           26%                              Operating    › Maintain strategic pricing capability
                              25%
EBITDA MARGIN                                                                             Leverage       through reliable supply and
                                                                                                         segmentation
>360 bps
improvement                                                                                            › Accelerate digital transformation
                            2016A                      2017A                      2018E

            Note: 2016 and 2017 financial information is on a pro forma basis                 DuPont Transportation & Advanced Polymers          10
            Adjusted operating EBITDA excludes non-operating pension/OPEB costs
Investor Day
November 8, 2018
Electronics & Imaging

Product
Jim Fahey,
        or business
            President
                    name
ELECTRONICS & IMAGING KEY MESSAGES
World-leading electronic materials portfolio enabled by expertise in integrating materials to meet
customer needs, global market presence and best-in-class manufacturing capabilities

                                       ›   Market trends such as AI, IoT, 5G, autonomous vehicles and smart cities/homes
               Robust and Multi-
                                           are all accelerating
               Faceted End Market
                                       ›   These market trends are enabled by Moore’s Law
               Demand
                                       ›   Moore’s Law has and will continue to be driven by novel materials

                                       ›   Key design partner with leading OEMs
               Enabling
                                       ›   Uniquely positioned to win through innovative products, deep customer
               Differentiation
                                           intimacy, and materials integration capabilities
               Through Innovation
                                       ›   Largest portfolio of products in the semiconductor industry

                                       ›   Completion of CMP expansion in Taiwan
               Driving Continued
                                       ›   Expansion in manufacturing for semi and display in Korea
               Shift to Asia
                                       ›   Headcount additions concentrated in Asia (50% R&D located in Asia)

                                                                                         DuPont Electronics & Imaging      12
ELECTRONICS & IMAGING OVERVIEW

LARGE & PROFITABLE (2018E)                                                                                     NET SALES (2018E)

                                                                         BY BUSINESS                                 SOURCES OF COMPETITIVE ADVANTAGE

 $4.8B                 39%                                       5%                   Semiconductor Tech
                                                                                                                     › Innovation capabilities

  NET SALES          ADJUSTED OP.                          11%                                                       › Advantaged product portfolio
                                                                                      Interconnect Solutions
                     EBITDA MARGIN                                       35%                                         › Strong customer relationships
                                                                                      Photovoltaic and Advanced
                                                       23%                            Materials
                                                                                      Advanced Printing
               10%
23%                                                                                   Display Tech                   GROWTH STRATEGY
                                                                  26%
                            65%                                                                                      › Leadership position in growth markets
      2%                                                                                                             › Broad portfolio with differentiated strategies

                                                                 BY MARKET SEGMENTS                                  › Investment plans in attractive markets

                                                                                            Industrial
                                                               6%
                                                              6%                            Communications
                                                                         31%                                         PEERS
                                                        15%                                 Consumer
                                                                                                                     › 3M
                                                                                            Data Processing
 ~6,000                    40                            16%
                                                                                            Automotive
                                                                                                                     › Versum
                                                                                                                     › Cabot Microelectronics
  COLLEAGUES         MANUFACTURING                                    26%
                         SITES                                                              Mil/Aerospace            › Entegris

                Adjusted operating EBITDA excludes non-operating pension/OPEB costs
                                                                                                                                     DuPont Electronics & Imaging       13
STRONG GLOBAL BUSINESSES
                          Semiconductor                                                             Photovoltaics &
                                                             Interconnect Solutions                                                        Advanced Printing                   Display Technologies
                           Technologies                                                            Advanced Materials
Value Proposition

                    Advanced materials for integrated        Metallization, imaging, surface    Materials to increase the lifetime    Flexographic printing solutions for   Materials for display applications,
                    chip fabrication and packaging to        treatments and films to enable         and power output of solar          consumer packaging, and digital       OLED materials, quantum dots,
                     enable improved connectivity,             smaller and multi-functional      modules. Films and pastes are             printing inks for textile,       and display process chemicals to
                         power, functionality and                 printed circuit boards       also used in industrial applications     commercial, home and office             improve brightness, color
                               performance                                                         such as sensors, wearable                     applications               saturation, viewing angle and light
                                                                                                 electronics and protective films                                                      management

                          ›    Ikonic™                             ›   Kapton®                         ›   Tedlar®
                                                                                                                                              ›   Cyrel®
                          ›    Optiline™                           ›   Riston®                         ›   Solamet®                                                                 ›   Trevista®
Brands

                                                                                                                                              ›   Artistri®
                          ›    AR™ 201                             ›   Pyralux®                        ›   Intexar®

                              Market Growth                        Market Growth                       Market Growth                          Market Growth                         Market Growth
                               ~ 2x GDP                               GDP+                                GDP+                                   GDP+                                > 5x GDP

                                          Source: Internal DuPont estimates                                                                                     DuPont Electronics & Imaging                14
ADDRESSING THE WORLD’S MOST CRITICAL NEEDS
                                                                                                                      Market
         Global Megatrends                                    Our Solution Space                                      Size*
                                                             Semiconductor Technologies
                                                             › Smart phones               › Automotive
                                   Artificial intelligence
                                                             › PCs & servers              › Data storage
                                                                                                                       $8B
  Ubiquitous
  Connectivity

                                   Internet of things        Interconnect Materials
                                                             › PCs                        › Automotive                 $5B
                                                             › Smart phones               › Servers
  Enhanced User
  Experience
                                   5G
                                                             Photovoltaics & Advanced Materials
                                                             › PV modules                 › Military & aerospace       $6B
                                                             › Automotive
                                   Smart cities
  Future Mobility
                                                             Advanced Printing Materials
                                                             › Textile printing          › Industrial printing         $3B
                                   Flexible electronics      › Consumer digital printing
  Environment
                                                             Display Materials
                                                             › OLED smartphones           › LEDs
                                   Autonomous driving
                                                             › LCD displays
                                                                                                                       $2B

                 * 2017 materials addressable market size                                       DuPont Electronics & Imaging   15
                  Source: Internal DuPont estimates
PROVIDING INDUSTRY LEADING INNOVATION

                IoT and Artificial Intelligence                                                            5G Infrastructure

                                                STRONG GROWTH                                                                 STRONG GROWTH

                                          Large & Growing                                                               New Market
                                          Market

                                          > 20%                                                                         $3.5B
                                          CAGR growth until 2022                                                        Market Opportunity by 2022

                    Key Strengths Leveraged                                                            Key Strengths Leveraged

›   IC and advanced packaging materials                                            › High reliability circuit materials for ultra reliable low latency
›   Flexible & foldable films for substrates and displays                            applications
›   Solutions for improved performance and energy efficiency                       › High resolution display materials for AR/VR
›   Thermal management solutions                                                   › Advanced low-loss dielectrics and high resolution
                                                                                     metallization
                                                                                   › Thermal management solutions

                 Sources: McKinsey, Gartner, BCG; Yole Development, SNS Research                                      DuPont Electronics & Imaging       16
DELIVERING COST & GROWTH SYNERGIES

                                                                                            SUCCESS STORIES
MORE SOLUTIONS ACROSS
THE COMPLETE VALUE CHAIN

KEY ACTIONS
› Amplify sales of existing products leveraging
  market channels                                          CMPT                    Kapton®                  Dielectric                 Smart
                                                           & EKC                                              Film                 Infrastructure
› Integrate heritage technology programs to build
  novel materials solutions                         › Continue               › Expanding use of        › Development of          › Materials for next
                                                      investment and           polyimide                 highly differentiated     generation smart
                                                      localization in Asia     dielectrics at higher     materials for the         devices &
                                                      (Taiwan and              frequencies               5G space                  infrastructure
COST SYNERGIES                                        Korea)
                                                                             › Synergistic growth      › Synergistic growth      › Collaborating
› Consolidating offices and R&D sites in each       › Synergistic growth       focused on                by leveraging             across multiple
  country/region                                      through leveraging       leveraging internal       internal materials,       businesses and
                                                      customers and            materials, design         integration               product lines
› Leveraging contract manufacturing network in        market channels          expertise and             expertise and
  Asia                                                across CMP, Litho        market channel            capacity availability
                                                      & EKC

                                                                                                              DuPont Electronics & Imaging              17
DRIVING SUSTAINABLE TOP & BOTTOM LINE GROWTH

            FINANCIAL SUMMARY ($ BILLIONS)                                                         MEDIUM-TERM OUTLOOK

                                                         $4.8                     $4.8
                              $4.3
NET                                                                                                  1.5x GDP driven by:
SALES
6% CAGR                                                                                    Sales     › Market trends driving growth of new
                            2016A                      2017A                     2018E    Growth       applications and materials needs

                                                                                                     › Design partner at key OEMs
                                                         $1.8                    $1.9
                              $1.4
ADJUSTED
OPERATING
EBITDA
14% CAGR                    2016A                      2017A                     2018E               › New products commanding higher
                                                                                                       price points
                                                         39%                      39%    Operating
                              33%
ADJ. OPERATING                                                                           Leverage    › Continued cost productivity
EBITDA MARGIN                                                                                        › Unique scale and channel access
>550 bps
improvement                 2016A                      2017A                     2018E

            Note: 2016 and 2017 financial information is on a pro forma basis
            Adjusted operating EBITDA excludes non-operating pension/OPEB cost                            DuPont Electronics & Imaging   18
            2018 net sales growth negatively impacted by SKC Haas divestment
Investor Day
November 8, 2018
Safety & Construction

Product
Rose Lee,
        or business
           Presidentname
SAFETY & CONSTRUCTION KEY MESSAGES
A global leader providing highly engineered solutions for essential needs of water, shelter and
safety across a wide variety of end markets

                                      ›   Solving world’s challenges in water, shelter, and safety
               Strong Market
                                      ›   Market leader based on proven track record, global scale and expertise
               Leadership             ›   Investing in capacity expansion and accelerating innovation

               Highly                 ›   Unique technology and brand platforms
               Differentiated         ›   New application development powered by deep market intimacy
               Offerings              ›   Strong value chain partnerships in all regions

               Solid Trajectory       ›   Differential pricing and portfolio actions
               for Margin             ›   Operational reliability and productivity gains
               Expansion              ›   Strategic sourcing partnerships and supply chain simplification

                                                                                          DuPont Safety & Construction   20
SAFETY & CONSTRUCTION OVERVIEW

LARGE & PROFITABLE (2018E)                                                                               NET SALES (2018E)

                                                                          BY BUSINESS                          SOURCES OF COMPETITIVE ADVANTAGE

 $5.5B                 25%                                                                                     › Global market reach and credibility

  NET SALES          ADJUSTED OP.                          19%                          Aramids                › Technical depth linked with market intimacy
                                                                        29%
                     EBITDA MARGIN                                                                             › Strong, global brands
                                                                                        Construction

                                                        23%                             Tyvek
               27%
43%                                                                 29%                 Water                  GROWTH STRATEGY
                          26%
                                                                                                               › Business simplification
      4%                                                                                                       › Disciplined capital deployment

                                                                   BY MARKET SEGMENTS                          › Innovation acceleration

                                                                                      Construction
                                                           19%                        Personal Protective
                                                                          34%         Equipment                PEERS
                                                                                      Transportation
                                                       11%                                                     › Honeywell
                                                                                      Medical
 ~7,000                    42                           5%
                                                             12%
                                                                                      Industrial/Other
                                                                                                               › 3M
                                                                                                               › Hexcel
  COLLEAGUES         MANUFACTURING                                  19%
                         SITES                                                        Water
                                                                                                               › Kimberly-Clark
                                                                                                                              DuPont Safety & Construction     21
                Adjusted operating EBITDA excludes non-operating pension/OPEB costs
STRONG GLOBAL BUSINESSES
                                Aramids                            Construction                  Tyvek® Enterprise                      Water Solutions
Value Proposition

                    Unmatched leader in essential        From foundation to attic, our        Tough, durable, breathable             Innovators in purification,
                    lightweight strength, durability,   portfolio of insulation, sealants    materials that enable unique             filtration and separation
                          thermal and electrical         and weatherization products        solutions for protecting people,       technologies, setting industry
                      protection solutions across a        deliver energy efficiency,             goods and buildings                standards for quality and
                    diverse array of industries and          durability and comfort                                                             reliability
                               applications

                                                               ›    Styrofoam™                                                           ›   Taptec™
                           ›   Kevlar®
Brands

                                                               ›    Corian®                        ›   Tyvek®                            ›   Filmtec™
                           ›   Nomex®
                                                               ›    Great Stuff™                                                         ›   Amberlite™
                               Market Growth                       Market Growth                       Market Growth                         Market Growth
                                  GDP+                                 GDP+                             > 1.5x GDP                            > 2x GDP

                                      Source: BCG
                                                                                                                               DuPont Safety & Construction     22
ADDRESSING THE WORLD’S MOST CRITICAL NEEDS
                                                                                                                                                            Market
        Global Megatrends                                                                            Our Solution Space                                     Size*

                                                                                                 Medical & Pharma Packaging
                             Nearly half
                                                                                                 › Medical Device              › Pharma Cold Chain           $4B
                                                                                                   Packaging                     Packaging
                             Of the global population
                             could be facing water
                             scarcity by 20301
                                                                                                 Water
  Sustainable
  Development                                                                                    › Residential, Industrial,    › Specialty Processing        $5B
                                                                                                   Wastewater Filtration
                             53%
                             Global energy demand
                             growth by 20352
                                                                                                 Aerospace & Automotive xEV
                                                                                                 › Aerospace Light             › xEV Electrical & Thermal    $3B
                             2 million                                                             Weighting                     Insulation Systems
                             Target reduction in number
                             of fatalities from occupational                                     Construction
                             accidents by 20303
                                                                                                 › Building Thermal            › Air-Sealing                $20B
  Protection
  From Harm                                                                                        Management                  › Solid Surfaces
                                                                                                 › Weatherization
                             20% CAGR
                             China’s medical device
                             market growth per year4                                             Personal Protective Equipment
                                                                                                 › Chemical, Fire, Electrical, Biological and Ballistics    $19B
                                                                                                   Protection

                Sources: 1. OECD 2. U.S. Department of Energy 3. United Nations 4. Financial Times                                    DuPont Safety & Construction   23
                * 2017 addressable market size
PROVIDING INDUSTRY LEADING INNOVATION

 FILMTEC™ Residential Water Filtration Membrane                            Tyvek® 40L Medical Device Packaging

                                                STRONG GROWTH                                             STRONG GROWTH

                                          Growing Market                                            New Market

                                          ~20%                                                      ~$400MM
                                          CAGR growth until 2022                                    Market Opportunity

                   Key Strengths Leveraged                                           Key Strengths Leveraged

› Most trusted brand in RO space with three decades of             › A unique and competitive solution for medical packaging
  performance and three new products introduced this year            challenges in Asia
› Multi-Tiered offering, partnering with leading brand owners to   › 1st Tyvek® global medical product designed for and launched
  customize solutions for their targeted consumers                   in China

                 Sources: BCG and internal estimates
                                                                                                  DuPont Safety & Construction     24
DELIVERING COST & GROWTH SYNERGIES
Combining the strengths & capabilities of two                                     MARKET DRIVERS
influential portfolios in building materials to drive
innovative solutions                                                                    Sustainable, Energy Efficient
                                                                                        Structures

                     ›   Complementary portfolio enables new solutions in
                         thermal comfort, structural protection and air sealing
  Broad Solution         & weatherization                                               Construction Productivity
  Portfolio          ›   Increased end-user awareness and relevancy with
                         our branded solutions

                                                                                        “Smart” Enablement & Sensing
                     ›   Amplified market coverage leveraging DuPont’s
                         residential market footprint and Dow’s commercial
  Market                 and retail market strength
  Leadership         ›   Deep technical expertise in all major building types:
                         concrete, timber and steel
                                                                                              COST SYNERGIES
                     ›   Market-intimacy led innovation focused on capturing                  › Manufacturing site consolidation and
                         value by transforming building practices and driving                   productivity
  Innovation             construction efficiencies
  Platforms          ›   Well positioned to foster partnerships across the                    › Business process simplification
                         value chain

                                                                                                   DuPont Safety & Construction   25
DRIVING SUSTAINABLE TOP & BOTTOM LINE GROWTH

             FINANCIAL SUMMARY ($ BILLIONS)                                                           MEDIUM-TERM OUTLOOK

                                                                                     $5.5
                               $5.0                       $5.1                                          1.5x GDP driven by:
NET
SALES                                                                                                   › Innovation acceleration
5% CAGR                                                                                       Sales
                             2016A                      2017A                       2018E    Growth     › Capacity expansion

                                                                                                        › Technical depth linked with market
                                                                                     $1.4                 intimacy
                               $1.2                       $1.2
ADJUSTED
OPERATING
EBITDA
4% CAGR                      2016A                      2017A                       2018E
                                                                                                        › Operational reliability and
                                                                                            Operating     productivity gains
                               25%                        24%                        25%
                                                                                            Leverage    › Differential pricing and portfolio
ADJ. OPERATING                                                                                            actions
EBITDA MARGIN
                             2016A                      2017A                       2018E

            Note: 2016 and 2017 financial information is on a pro forma basis
            Adjusted operating EBITDA excludes non-operating pension/OPEB benefit
                                                                                                             DuPont Safety & Construction      26
Investor Day
November 8, 2018
DuPont Industrial Biosciences

Product or
William Feehery,
           business
                 President
                    name
INDUSTRIAL BIOSCIENCES KEY MESSAGES
World-leading position in the industrial biotechnology technology space, accessing a broad set of
markets, disrupting traditional chemical and material markets

                                      ›   Leveraging world-leading biotechnology into enzyme and microbial solutions
               Biotechnology          ›   Accelerating new product introductions with high throughput robotic
               Innovation                 experiments
               Pioneer                ›   Breakthrough renewable polymer products enabled by enzymes
                                      ›   Strong pipeline of application and new product innovations

                                      ›   Healthy pipeline of new-to-the-world molecules and formulated products
               Technology Driven      ›   Significant cost reduction and capital avoidance via continuous improvement of
               Margin Expansion           the “cell factory”
                                      ›   40% revenue from new products introduced in the last 5 years

                                      ›   Global leader in industrial biotechnology, enzymatic solutions, high performance
               Leader in Growing
                                          biomaterials and specialty microbial control
               Market Segments
                                      ›   Pursue robust growth of animal, plant and skin microbiome

                                                                                         DuPont Industrial Biosciences       28
INDUSTRIAL BIOSCIENCES OVERVIEW

LARGE & PROFITABLE (2018E)                                                           NET SALES (2018E)

                                                         BY BUSINESS                       SOURCES OF COMPETITIVE ADVANTAGE

           $2.2B                             13%                 Bioactives
                                                                                           › 25+ years of industrial biotechnology expertise
                                                                                           › Deep customer-focused application development
               NET SALES
                                                                                           › Large scale manufacturing and operational
                                                                 Biomaterials
                                       24%               48%                                 productivity
                                                                 Microbial Control         › Regulatory expertise
                 26%                         15%                 Clean Technologies
41%                                                                                        GROWTH STRATEGY
                           26%
                                                                                           › Product innovation via cutting edge biotechnology
      7%                                                                                   › Focus on high-growth markets
                                                                                           › Rapid new product speed-to-market
                                               BY MARKET SEGMENTS
                                                                                           › Capacity and margin expansion through technology
                                                                                             advances
                                         17%       10%          Food & Bev
                                                     11%                                   PEERS
                                                                Animal Nutrition
                                       16%                      Home & Personal Care
                                                                                           › Novozymes
                                                                                           › Chr. Hansen
 ~2,800                    19                            18%    Energy & Water
                                                                Industrial                 › Lonza
  COLLEAGUES           MANUFACTURING         28%
                           SITES                                Textile                    › Croda

                                                                                                         DuPont Industrial Biosciences           29
STRONG GLOBAL BUSINESSES
                                  Bioactives                                         Biomaterials                                       Microbial Control                       Clean Technologies
Value Proposition

                        Premier global industrial enzymes                    Successful enzyme-enabled                              Leading producer of main
                                                                          biopolymer businesses, selling a                       microbial control agent in oil/gas        Primary technology provider to all
                        business, with significant biotech
                                                                            highly differentiated specialty                       production; leading position in            industries requiring high-quality
                        capability to genetically engineer
                                                                             polyester to the carpet and                        primary microbial control agent in                sulfuric acid with low
                           microbes using big data, 3D
                                                                           apparel markets; world leading                         many personal care products;             environmental impact; engineering
                         visualization and robotics; large
                                                                         share in bio-PDO production; late-                        extensive microbiology, high             and design services, aftermarket
                           manufacturing scale, global
                                                                            stage pipeline of exciting new                      throughput testing and regulatory               parts, and catalyst supply
                        footprint, and exposure to a wide
                              array of end markets                                   biomaterials                                           experience

                    ›    Synerxia®       ›   Genencare®                                                                         ›   Aqucar™            ›   Silvadur™       ›   Belco®             ›   MECS®
                    ›    Excellenz™      ›   Axtra® Phy                      ›   Zemea®         ›   Sorona®                     ›   Kathon™                                ›   Stratco®
Brands

                    ›    Preferenz™                                                                                             ›   Glutex™                                ›   Isotherming®

                                 Market Growth                                       Market Growth                                          Market Growth                           Market Growth
                                    GDP+                                                ~ GDP                                                   GDP+                                   ~ GDP

                                        Sources: Euromonitor, Bernstein, McKinsey, Freedonia, CRI, Intercontuft, BI Services, CRU, Platts and internal estimates
                                                                                                                                                                       DuPont Industrial Biosciences        30
ADDRESSING THE WORLD’S MOST CRITICAL NEEDS
                                                                                                                             Market
         Global Megatrends                              Our Solution Space                                                   Size*
                                                              Industrial Biotechnology
                                                              › Food and grain processing    › Animal health and nutrition
                                                              › Home and personal care       › Carpet and apparel

                              Hygiene                         Solutions                                                      $15B
                                                              › Enzymes, yeast &             › Enzymatic polysaccharides
  Health &                                                      probiotics
  Wellness                                                    › Specialty polyesters
                              Health & nutrition
                                                              Microbial Control
                                                              › Energy and water             › Home and personal care
                                                              › Preservatives
                              Comfort
                                                              Solutions                                                      $7B
                                                              › Specialty biocides

                              Sustainable processes
                              & materials
  Sustainability                                              Clean Technologies
                                                              › FCC scrubbing                › Acid and alkylation
                                                                                               solutions
                              Clean fuels & clean air
                                                              Solutions                                                      $2B
                                                              › Process technology and       › Emissions control solutions
                                                                equipment                    › Industry support solutions
                                                              › Catalyst

                   * 2017 addressable market size
                   Source: Internal estimates
                                                                                            DuPont Industrial Biosciences             31
PROVIDING INDUSTRY LEADING INNOVATION

     Enzymes Power Cold Water Washing                               Probiotics and Enzymes in Poultry Feed                        Energy Solutions

                                 STRONG                                                                STRONG                                      STRONG
                                 GROWTH                                                                GROWTH                                      GROWTH

                           Large Market                                                          Expanding Market                            Large & Growing
                                                                                                                                             Market
                           $1B                                                                   ~$1B                                        $1B
                           Market                                                                Market                                      Market
                           Opportunity                                                           Opportunity                                 Opportunity

         Key Strengths Leveraged                                           Key Strengths Leveraged                          Key Strengths Leveraged

› Best-in-class protein engineering technologies                › Microbiome understanding, characterization,       › Targeted microbial control to prepare,
  to create superior cold water performance                       selection, and custom formulation                   decontaminate and protect oil & gas (water,
                                                                                                                      wells and reservoirs)
› Deep application expertise in laundry shortens                › Probiotics and enzymes reduce feed costs,
  time-to-market and improves success rate                        and enable healthier poultry                      › Integrated offering of yeast and enzymes that
                                                                                                                      improve bioethanol production yield by >3%
› Strong customer intimacy and collaboration                    › Reduced feed costs and increased farmer
  across all functions                                            returns

                   Sources: Bernstein, MarketsandMarkets, internal and customer consensus estimates                          DuPont Industrial Biosciences          32
DELIVERING COST & GROWTH SYNERGIES

A POWERFUL COMBINATION OF CAPABILITIES ACCELERATES GROWTH IN HOME CARE

    Laundry Malodor is an Emerging                              From DuPont
                                                                • Protein libraries
       Challenge for Consumers                                  • Probiotics

                                                                From Dow
                                                                • Microbial control
                                                                • Odor science
     Shorter wash cycles, lower wash temperatures and
     synthetic fabrics are more favorable to microbial growth   From both companies
     and malodor issues                                         • Hygiene applications know-how
                                                                • Regulatory expertise

     Permastink                       Low Temp Funk
                                                                       COST SYNERGIES
                                                                       › Elimination of redundant lab and analytical
    Air Dry Stench                     Machine Odor                      capabilities
                                                                       › Site consolidation

                                                                                      DuPont Industrial Biosciences   33
DRIVING SUSTAINABLE TOP & BOTTOM LINE GROWTH

             FINANCIAL SUMMARY ($ BILLIONS)                                                       MEDIUM-TERM OUTLOOK

                                                                                 $2.2

NET SALES                                                 $2.1                                      1.5x GDP growth driven by:
6% CAGR                                                                                   Sales     › New products
                          $1.9                                                           Growth
                                                                                                    › Leadership positions in growth
                                                                                                      markets and regions

                                                                                                    › Technology-driven higher
                                                                                                      value/lower cost products
                                                                                        Operating
                                                                                                    › Product and customer segmentation
                                                                                        Leverage
                                                                                                    › Efficiency of industrial-scale
                                                                                                      fermentation
                       2016A                           2017A                    2018E

            Note: 2016 and 2017 financial information is on a pro forma basis                           DuPont Industrial Biosciences   34
Investor Day
November 8, 2018
Nutrition & Health

Matthias Heinzel, President
NUTRITION & HEALTH KEY MESSAGES
World-leading provider of innovative and sustainable solutions for the food and health industry, offering the
broadest portfolio across the food & beverage, dietary supplements and pharma excipients segments

                 Powerful and              ›   Leading positions vs competition in key segments
                 Sustainable Market        ›   Broadest portfolio in the market
                 Leadership                ›   Unique route-to-market with strong customer access

                                           ›   Combination of customer oriented application development and new product
                 Outstanding                   platforms
                 Innovation a Key          ›   Differential portfolio management with focus on probiotics, cultures, HMO
                 Strength                      (Human Milk Oligosaccharides), pharma excipients and microbiome
                                           ›   Metrics driven, strong pipeline management

                                           ›   Proven track record of delivering profitable growth
                 Positioned for Top-
                                           ›   Favorable secular markets with areas of high growth
                 Line Growth & Margin
                                           ›   Proven, differentiated strategy and lean operating model to deliver strong
                 Expansion
                                               operating leverage

                                                                                                   DuPont Nutrition & Health   36
NUTRITION & HEALTH OVERVIEW

LARGE & PROFITABLE (2018E)                                                         NET SALES (2018E)

                                                     BY BUSINESS                             SOURCES OF COMPETITIVE ADVANTAGE

           $4.7B                                               Probiotics, Cultures & Food
                                                                                             › Broad, market leading portfolio
                                                                                             › Innovation leadership with strong science foundation
               NET SALES                     16%     17%
                                                               Protection
                                                               Pharma Excipients
                                                                                             › Route-to-market and customer intimacy

                                       22%               18%   Systems & Texturants          GROWTH STRATEGY
                 31%                                           Protein Solutions             › Focus on innovation to enable high-growth and high-
40%                                                                                            margin platforms
                           21%                     27%         Emulsifiers & Sweeteners
                                                                                             › Disciplined capital allocation
      8%                                                                                     › Efficient operation model
                                                                                             › Active portfolio management
                                              BY MARKET SEGMENTS
                                                                                             PEERS
                                                                                             › Chr. Hansen
                                                               Health & Wellness
                                                         35%
                                                               (includes dietary
                                                                                             › Kerry
                                                               supplements and pharma)       › Givaudan
 ~8,000                    55          65%
                                                               Food & Beverage               › Int’l Flavors & Fragrances
  COLLEAGUES           MANUFACTURING
                           SITES

                                                                                                                 DuPont Nutrition & Health      37
STRONG GLOBAL BUSINESSES
                          Probiotics &                            Pharma                                  Systems &                                                               Emulsifiers &
                                                                                                                                            Protein Solutions
                            Cultures                             Excipients                               Texturants                                                               Sweeteners
Value Proposition

                        Serving global                   Meeting drug delivery                       First choice for                       High-quality and                Solutions for efficient,
                     demand for healthy,                    needs through                                healthy,                          application-specific                functional food
                    natural and fermented                      innovative                            convenient and                          functionality for               emulsification and
                     food & supplements                   solutions and close                     affordable foods that                   nutritionally and cost-             natural specialty
                                                         market collaboration                      feel and taste great                   beneficial soy protein                 sweeteners

                      ›   Danisco®                          ›   MethocelTM                           ›   Danisco®                               ›   Danisco®                  ›   Danisco®
                      ›   Howaru®                           ›   Avicel®                              ›   Grindsted®                             ›   Supro® Max                ›   Grindsted®
                      ›   Choozit®                                                                                                              ›   Supro®                    ›   SolecTM
Brands

                                                                                                                                                    Nuggets
                                                                                                                                                                              ›   Xivia®
                                                                                                                                                ›   Supro®   XT
                          Market Growth1)                       Market Growth2)                          Market Growth3)                            Market Growth4)               Market Growth5)
                           > 2.5x GDP                            > 1.5x GDP                                  GDP+                                       GDP+                          ~ GDP

                                    Sources: 1) Euromonitor, Nielsen, 2) BCG, BCC, Goldman Sachs, Technavio, 3) Euromonitor, Trade Data, BCC,
                                    IMR, Martec, SAI, 4) Euromonitor, Trade Data, Martec, 5) Euromonitor, Trade Data BCC, Giract
                                                                                                                                                                      DuPont Nutrition & Health        38
ADDRESSING THE WORLD’S MOST CRITICAL NEEDS
                                                                                                                                                                            Market
         Global Megatrends                                                                              Our Solution Space                                                  Size*

                                                                                                                     Food & Beverage
                                                                                                                     ›   Dairy
                               Nutrition for healthy                                                                 ›   Beverages
                               living                                                                                ›   Bakery                                              $10B
                                                                                                                     ›   Confectionary and snacks
  Growing &                                                                                                          ›   Frozen desserts and fruit applications
  Aging                        Smaller & local brands                                                                ›   Meat and poultry
  Population                   winning

                               Demand for clean label
                                                                                                                     Dietary Supplements
  Health &                                                                                                           ›   Probiotics – concentrates
  Wellness
  Focus
                                                                                                                     ›
                                                                                                                     ›
                                                                                                                         Probiotics – finished formats
                                                                                                                         Microbiome solutions
                                                                                                                                                                               $2B
                               Preventative health                                                                   ›   Nutraceuticals

  Health                       Next generation pharma
  Solutions
                               ingredients
  Access &                                                                                                           Pharma Excipients
  Affordability
                                                                                                                     ›   Immediate release tablets
                               Industrialization of food                                                             ›   Controlled release tablets
                               in emerging markets                                                                   ›   Hard capsules                                      $3.5B
                                                                                                                     ›   Non-gelatine, vegan soft capsules
                                                                                                                     ›   Enterics and solubility enhancement
                                                                                                                     ›   Anti-reflux

                  Sources: Euromonitor, BCC, Trade Data, Martec, IMR, Giract, 3A, Blimling, NBJ, Nielsen, BCG, Goldman Sachs, Technavio, Company
                  reports                                                                                                                                DuPont Nutrition & Health   39
                  * 2017 addressable market size
PROVIDING INDUSTRY LEADING INNOVATION

   Probiotics: Creating a Health Category                             HMO: The Next Step in Infant Formulation     Pharma Excipients: Free-From Capsules

                                                                          The Core:
                                 STRONG                                   Infant                 STRONG                                          STRONG
                                 GROWTH                                   Nutrition              GROWTH                                          GROWTH
                                                                          Next Tier:
                                                                          Toddler &
                          Large &                                                                                                          Trending Market
                                                                          Adult Health     New Market
                          Growing Market
                                                                                           ~$1B                                            ~8%
                          ~7-8%                                                                                                            Annual growth
                          Probiotics annual                                                Market                                          gelatin-free
                          growth rate1)                                                    Opportunity2)                                   capsules market3)

        Key Strengths Leveraged                                            Key Strengths Leveraged                       Key Strengths Leveraged

› Cultures expertise and strong science                          › Reputation for quality and safety             › Combined excipient know-how used to
  foundation                                                                                                       develop gelatin-free capsules
                                                                 › Innovation skills and probiotics leadership
› Global consumer insights                                                                                       › Expertise and formulation skills from soft gels
                                                                 › External partnerships and Industrial
                                                                                                                   and hard capsules
› Committed investment strategy for continued                      Biosciences collaboration
  growth                                                                                                         › Global market reach

                  Sources: 1) Euromonitor, 2) Euromonitor, 3) Newry                                                            DuPont Nutrition & Health         40
DELIVERING COST & GROWTH SYNERGIES

      Bringing Together Three Winning Businesses Creates a Unique Value Proposition
               % of
                                                 Food &                                    Dietary                      Pharma
           Revenue                              Beverage                                 Supplements                   Excipients
            (2018E)

                                                           ...and growth and cost synergies

                      Innovation Capabilities                                                               Lean Business Structure
Example:                                                                                                                              Example:
Improve               Formulation Expertise                                                                  Operations & Sourcing    In-sourcing of
probiotics with                                                                                                                       cellulosics for
pharma                Channel Reach                                                                          Lower Overhead Costs     higher-value
excipients                                                                                                                            functional
expertise                                                                                                                             systems
                      Growth Platform                                                              Office & Warehouse Consolidation

                                                           Growth                 Cost
                                                                                                                     DuPont Nutrition & Health          41
DRIVING SUSTAINABLE TOP & BOTTOM LINE GROWTH

             FINANCIAL SUMMARY ($ BILLIONS)                                                       MEDIUM-TERM OUTLOOK

                                                             $6.0                $6.9
                              $5.7
NET                                                                              $2.2
                              $1.9                          $2.1                                    1.5x GDP driven by:
SALES       IB
                              $3.8                          $3.9                 $4.7
9% CAGR     N&H                                                                                     › Underlying market growth driven by
                                                                                          Sales       consumer trends
                           2016A                          2017A                 2018E
                                                                                         Growth     › Outstanding innovation strength
                                                                                 $1.6
ADJUSTED                        $1.3                          $1.3                                  › Global customer intimacy and
                                                                                                      footprint in emerging regions
OPERATING
EBITDA
13% CAGR                      2016A                        2017A                2018E

                                                                                 24%                › Lean operating model
                                22%                           22%
ADJ OPERATING                                                                           Operating
                                                                                        Leverage    › Portfolio investments in high
EBITDA MARGIN
                                                                                                      growth/high margin markets
>160 bps
improvement                   2016A                        2017A                2018E

            Note: 2016 and 2017 financial information is on a pro forma basis
            Operating EBITDA excludes non-operating pension/OPEB costs                                       DuPont Nutrition & Health   42
            2018 N&H results benefitting from FMC H&N acquisition
Safe Harbor Statement
This presentation contains “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. In this context, forward-looking statements often address expected future business and financial performance and financial condition, and often contain
words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “will,” “would,” “target,” “objective,” and similar expressions and variations or negatives of these words.

Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about the internal reorganization of DowDuPont’s agriculture, materials science
and specialty products businesses and the anticipated benefits thereof as well as the anticipated separation and distribution of Corteva Inc. (“Corteva”) and Dow Holding Inc. (“Dow”). These and other
forward-looking statements, including the failure to complete, or to make any filing or take any other action required to be taken to complete, the separations and distributions are not guarantees of future
results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statements. Forward-looking statements also
involve risks and uncertainties, many of which are beyond our control. Some of the important factors that could cause the actual results of DuPont to differ materially from those projected in any such
forward-looking statements include, but are not limited to (i) changes in credit ratings, (ii) risks associated with international sales and operations, (iii) availability, and variable costs, of raw materials and
energy, (iv) competitive conditions and customer preferences, (v) the costs of complying with evolving regulatory requirements, (vi) disruptions to supply chains, information technology or network
systems, (vii) protection of intellectual property, (viii) concerns regarding chemicals in commerce, including their environmental impact, (ix) failure to comply with government regulations, (x) impairments to
goodwill or intangible assets, (xi) failure to effectively manage acquisitions, divestitures, alliances and other portfolio actions, (xii) litigation and other commitments and contingencies, (xiii) subjection to
laws, regulations and mandates globally, (xiv) failure to increase productivity through sustainable operational improvements, (xv) the dependence of tax liabilities upon the distribution of income among the
various jurisdictions in which we operate and (xvi) failure of risk management strategies.
Risks related to the separations and distributions and to achieving the anticipated benefits thereof include, but are not limited to, a number of conditions which could delay, prevent or otherwise adversely
affect the separations and distributions, as well as other risks, including risks related to (i) our inability to achieve some or all of the benefits that we expect to receive from the separations and distributions,
(ii) certain tax risks associated with the separations and distributions, (iii) our inability to make necessary changes to operate as a stand-alone company following the separations and distributions, (iv) the
failure of our pro forma financial information to be a reliable indicator of our future results, (v) our inability to enjoy the same benefits of diversity, leverage and market reputation that we enjoyed as a
combined company, (vi) restrictions under the intellectual property cross-license agreements, (vii) our inability to receive third-party consents required under the separation agreement, (viii) our customers,
suppliers and others’ perception of our financial stability on a stand-alone basis, (ix) non-compete restrictions under the separation agreement, (x) receipt of less favorable terms in the commercial
agreements we will enter into with Dow and Corteva than we would have received from an unaffiliated third party and (xi) our indemnification of Dow and/or Corteva for certain liabilities. We assume no
obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as
otherwise required by securities and other applicable laws.

Additionally, this presentation includes certain estimates, objectives and targets that are forward-looking and subject to significant business, economic, regulatory and competitive uncertainties and
contingencies, many of which are beyond our control, and are based upon assumptions with respect to future decisions, which are subject to change. Actual results will vary and those variations may be
material. Nothing in this presentation should be regarded as a representation by any person that these objectives will be achieved and we undertake no duty to update this information, except as otherwise
required by securities and other applicable laws.

For further discussion of certain important factors that could cause variations in our forward-looking statements, please consult the “Risk Factors” section of the most recent Annual Report on Form 10-K
and Quarterly Reports on Form 10-Q of DowDuPont, The Dow Chemical Company (“Historical Dow”) and E. I. du Pont de Nemours and Company (“Historical DuPont”), as well as the current reports and
other information that DowDuPont, Historical DuPont, Historical How, Dow or DuPont may file with the Securities and Exchange Commission from time to time.

                                                                                                                                                                                                               43
Safe Harbor Statement, continued
Non-GAAP Information: This presentation includes information that does not conform to U.S. GAAP and are considered non-GAAP measures. These measures include operating EBITDA and operating
EBITDA margin, and pro forma operating EBITDA and pro forma operating EBITDA margin, as adjusted by removing expense/benefits associated with non-operating pension and other postemployment
benefits (OPEBs). We believe that these non-GAAP measures best reflect the ongoing performance of DuPont during the periods presented and provide more relevant and meaningful information to investors
as they provide insight with respect to ongoing operating results of the DuPont and a more useful comparison of year-over-year results. These non-GAAP measures supplement our U.S. GAAP disclosures
and should not be viewed as an alternative to U.S. GAAP measures of performance. Furthermore, such non-GAAP measures may not be consistent with similar measures provided or used by other
companies. Reconciliations for these non-GAAP measures to GAAP are included in this presentation or on the company’s website.

Divisional Information: Discussion of DuPont net sales, adjusted operating EBITDA, including on a pro forma basis, and price/volume metrics on a divisional and segment basis is based on the combined and
separate results of and estimates for DowDuPont’s Electronics & Imaging, Nutrition & Biosciences, Transportation & Advanced Polymers, and Safety & Construction segments. Information for the years ended
December 31, 2017 and 2016 are presented on a pro forma basis as though the merger of Historical Dow and Historical DuPont had occurred on January 1, 2016. This information is presented in this manner
for informational purposes only and should not be viewed as an indication of DuPont’s current or future operating results on a standalone basis assuming completion of the intended business separations.
Full Year 2018 Estimates for Net Sales, Adjusted Operating EBITDA and Adjusted Operating EBITDA Margin (collectively, the “FY2018 Estimates”) are based on forward- looking information provided in
connection with DowDuPont’s third quarter 2018 earnings announcement (“DowDuPont’s FY2018 Guidance”) for results of operations for DowDuPont’s Specialty Products Division and the segments that
comprise it: Electronics & Imaging, Nutrition & Biosciences, Transportation & Advanced Polymers, and Safety & Construction, and the relative contribution of each such segment to divisional results of
operations. FY2018 Estimates are not intended to and should not be interpreted as updating DowDuPont’s FY2018 Guidance.

Unaudited Pro Forma Financial Information: The unaudited pro forma financial information included in this presentation is based on the historical consolidated financial statements and accompanying notes of
DowDuPont, Historical Dow and Historical DuPont and has been prepared to illustrate the effects of the merger, assuming the merger had occurred on January 1, 2016. For all periods presented prior to
January 1, 2018, adjustments have been made for (1) the preliminary purchase accounting impact, (2) accounting policy alignment, (3) eliminate the effect of events that are directly attributable to the merger
agreement (e.g., one-time transaction costs), (4) eliminate the impact of transactions between Dow and DuPont, and (5) eliminate the effect of consummated divestitures agreed to with certain regulatory
agencies as a condition of approval for the merger. The unaudited pro forma financial information was based on and should be read in conjunction with the separate historical financial statements and
accompanying notes contained in each of Historical Dow’s and Historical DuPont’s Quarterly Reports on Form 10-Q and Annual Reports on Form 10-K for the applicable periods. The pro forma financial
statements were prepared in accordance with Article 11 of Regulation S-X. The unaudited pro forma financial information has been presented for informational purposes only and is not necessarily indicative of
what DuPont's results of operations actually would have been had the Merger had been completed as of January 1, 2016, nor is it indicative of the future operating results of DuPont as a standalone public
company.

                                                                                                                                                                                                        44
Non-GAAP Reconciliation

                          45
Non-GAAP Reconciliation

                          46
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