# EDGAR Filing Document

**Accession Number:** 0001755672
**File Stem:** 0001755672-25-000013
**Filing Date:** 2025-6
**Character Count:** 62072
**Document Hash:** 44332c396f9bb72129b88d52159550ac
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001755672-25-000013.hdr.sgml**: 20250610

**ACCESSION NUMBER**: 0001755672-25-000013

**CONFORMED SUBMISSION TYPE**: 11-K

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20241231

**FILED AS OF DATE**: 20250610

**DATE AS OF CHANGE**: 20250610

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Corteva, Inc.
- **CENTRAL INDEX KEY:** 0001755672
- **STANDARD INDUSTRIAL CLASSIFICATION:** AGRICULTURE PRODUCTION - CROPS [0100]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 824979096
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 11-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38710
- **FILM NUMBER:** 251037892

**BUSINESS ADDRESS:**
- **STREET 1:** 9330 ZIONSVILLE ROAD
- **CITY:** INDIANAPOLIS
- **STATE:** IN
- **ZIP:** 46268
- **BUSINESS PHONE:** (833) 267-8382

**MAIL ADDRESS:**
- **STREET 1:** 9330 ZIONSVILLE ROAD
- **CITY:** INDIANAPOLIS
- **STATE:** IN
- **ZIP:** 46268

<u>[**Table of Contents**](#i360f1a4fe5834f2ebab868f4db8e5103_7)</u>

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, DC 20549**

**FORM 11-K**

**(Mark One)**

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| | |
|:---|:---|
| ⌧ | **ANNUAL REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934** |
| | For the fiscal year ended **December 31, 2024** |

---

---

| | |
|:---|:---|
| | **OR** |
| □ | **TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934** |
| | For the transition period from to  |

---

**Commission file number: 001-38710**

A. Full title of the plan and the address of the plan, if different from that of the issuer named below:

**Retirement Savings Plan**

B. Name of issuer of the securities held pursuant to the plan and the address of its principal executive office:

 **Corteva, Inc.**

**9330 Zionsville Road**

**Indianapolis, Indiana 46268**

**974 Centre Road**

**Wilmington, Delaware 19805**

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<u>[**Table of Contents**](#i360f1a4fe5834f2ebab868f4db8e5103_7)</u>

**RETIREMENT SAVINGS PLAN**

**TABLE OF CONTENTS**

---

| | |
|:---|:---|
| | **Page** |
| <u>[REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM](#i360f1a4fe5834f2ebab868f4db8e5103_13)</u> | <u>[1](#i360f1a4fe5834f2ebab868f4db8e5103_13)</u> |
| <u>FINANCIAL STATEMENTS:</u> |  |
| &nbsp;&nbsp;<u>[Statements of Net Assets Available for Benefits as of December 31, 2024 and 2023](#i360f1a4fe5834f2ebab868f4db8e5103_22)</u> | <u>[2](#i360f1a4fe5834f2ebab868f4db8e5103_22)</u> |
| &nbsp;&nbsp;<u>[Statement of Changes in Net Assets Available for Benefits for the Year Ended December 31, 2024](#i360f1a4fe5834f2ebab868f4db8e5103_25)</u> | <u>[3](#i360f1a4fe5834f2ebab868f4db8e5103_25)</u> |
| &nbsp;&nbsp;<u>[Notes to the Financial Statements](#i360f1a4fe5834f2ebab868f4db8e5103_28)</u> | <u>[4](#i360f1a4fe5834f2ebab868f4db8e5103_28)</u> |
| <u>SUPPLEMENTAL SCHEDULE\*:</u> |  |
| &nbsp;&nbsp;<u>[Schedule of Assets (Held at End of Year) as of December 31, 2024](#i360f1a4fe5834f2ebab868f4db8e5103_58)</u> | <u>[19](#i360f1a4fe5834f2ebab868f4db8e5103_58)</u> |
| <u>[EXHIBIT INDEX](#i360f1a4fe5834f2ebab868f4db8e5103_64)</u> | <u>[20](#i360f1a4fe5834f2ebab868f4db8e5103_64)</u> |
| <u>[SIGNATURE](#i360f1a4fe5834f2ebab868f4db8e5103_67)</u> | <u>[21](#i360f1a4fe5834f2ebab868f4db8e5103_67)</u> |

---

______________________________________

\* All other schedules required by Section 2520.103-10 of the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974 have been omitted because they are not applicable.

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<u>[**Table of Contents**](#i360f1a4fe5834f2ebab868f4db8e5103_7)</u>

**Report of Independent Registered Public Accounting Firm**

To the Administrator and Plan Participants of Retirement Savings Plan

***Opinion on the Financial Statements***

We have audited the accompanying statements of net assets available for benefits of Retirement Savings Plan (the "Plan") as of December 31, 2024 and 2023 and the related statement of changes in net assets available for benefits for the year ended December 31, 2024, including the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the net assets available for benefits of the Plan as of December 31, 2024 and 2023, and the changes in net assets available for benefits for the year ended December 31, 2024 in conformity with accounting principles generally accepted in the United States of America.

***Basis for Opinion***

These financial statements are the responsibility of the Plan's management. Our responsibility is to express an opinion on the Plan's financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Plan in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

***Supplemental Information***

The supplemental Schedule of Assets (Held at End of Year) as of December 31, 2024, has been subjected to audit procedures performed in conjunction with the audit of the Plan's financial statements. The supplemental schedule is the responsibility of the Plan's management. Our audit procedures included determining whether the supplemental schedule reconciles to the financial statements or the underlying accounting and other records, as applicable, and performing procedures to test the completeness and accuracy of the information presented in the supplemental schedule. In forming our opinion on the supplemental schedule, we evaluated whether the supplemental schedule, including its form and content, is presented in conformity with the Department of Labor's Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. In our opinion, the supplemental schedule is fairly stated, in all material respects, in relation to the financial statements as a whole.

/s/ PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

June 10, 2025

We have served as the Plan's auditor since at least 1993. We have not determined the specific year we began serving as auditor of the Plan.

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<u>[**Table of Contents**](#i360f1a4fe5834f2ebab868f4db8e5103_7)</u>

**RETIREMENT SAVINGS PLAN**

**STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS**

**AS OF DECEMBER 31, 2024 AND 2023** 

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| | | |
|:---|:---|:---|
| | **2024** | **2023** |
| Assets: |  |  |
| &nbsp;&nbsp;&nbsp;Investments, at fair value: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Participant-directed brokerage accounts | $96104203 | $83500120 |
| &nbsp;&nbsp;&nbsp;&nbsp;Corteva common stock | 104387543 | 102231541 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investments at fair value | 200491746 | 185731661 |
| &nbsp;&nbsp; Plan interest in Corteva Agriscience Defined Contribution Plan Master Trust | 6850106549 | 6687577962 |
| &nbsp;&nbsp;&nbsp;Receivables: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Participant contributions | 143028 | 1027 |
| &nbsp;&nbsp;&nbsp;&nbsp;Employer contributions | 34312598 | 35270593 |
| &nbsp;&nbsp;&nbsp;&nbsp;Notes receivable from participants | 23400089 | 21313251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total receivables | 57855715 | 56584871 |
| &nbsp;&nbsp;&nbsp;Cash | 4988328 | 4365466 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | 7113442338 | 6934259960 |
| Liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Accrued expenses | 54070 | 52500 |
| &nbsp;&nbsp;&nbsp;Net assets available for benefits | $7113388268 | $6934207460 |

---

See Notes to the Financial Statements beginning on page 4.

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<u>[**Table of Contents**](#i360f1a4fe5834f2ebab868f4db8e5103_7)</u>

**RETIREMENT SAVINGS PLAN**

**STATEMENT OF CHANGES IN NET ASSETS AVAILABLE FOR BENEFITS**

**FOR THE YEAR ENDED DECEMBER 31, 2024**

---

| | |
|:---|:---|
| | **2024** |
| Additions: |  |
| &nbsp;&nbsp;&nbsp;Investment income (loss): |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net investment income (loss) from interest in Corteva Agriscience Defined Contribution Plan Master Trust  | $720185156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net appreciation (depreciation) in fair value of investments | 27312170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividend income | 5734550 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net investment income (loss) | 753231876 |
| &nbsp;&nbsp;&nbsp;Contributions: |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Employer contributions, net | 98685971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Participant contributions | 114542216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rollovers | 6905015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total contributions | 220133202 |
| &nbsp;&nbsp;&nbsp;Interest from notes receivable from participants | 1916605 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total additions | 975281683 |
| Deductions: |  |
| &nbsp;&nbsp;&nbsp;Benefits paid to participants | 797601113 |
| &nbsp;&nbsp;&nbsp;Administrative expenses | 1085176 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deductions | 798686289 |
| Net increase (decrease) prior to asset transfers | 176595394 |
| Asset transfers in from other plans | 2585414 |
| Net increase (decrease) | 179180808 |
| Net assets available for benefits: |  |
| &nbsp;&nbsp;&nbsp;Beginning of year | 6934207460 |
| &nbsp;&nbsp;&nbsp;End of year | $7113388268 |

---

See Notes to the Financial Statements beginning on page 4.

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<u>[**Table of Contents**](#i360f1a4fe5834f2ebab868f4db8e5103_7)</u>

**RETIREMENT SAVINGS PLAN**

**NOTES TO THE FINANCIAL STATEMENTS**

**AS OF DECEMBER 31, 2024 AND 2023, AND FOR THE YEAR ENDED DECEMBER 31, 2024**

**NOTE 1 — DESCRIPTION OF THE PLAN**

The following description of the Retirement Savings Plan (the "Plan") of Corteva, Inc. is provided for general purposes only. Participants should refer to the Plan document for a more complete description of the Plan's provisions. Throughout this Form 11-K, "Corteva" or "the Company" refers to Corteva, Inc. and its consolidated subsidiaries, including EIDP, Inc. ("EIDP") (formerly known as E. I. du Pont de Nemours and Company) and its consolidated subsidiaries.

**General**

The Plan is a defined contribution plan subject to the provisions of the U.S. Employee Retirement Income Security Act of 1974 ("ERISA"), as amended, and the U.S. Internal Revenue Code ("IRC"). The Plan is a tax-qualified, contributory profit-sharing plan.

Corteva Agriscience, LLC, a subsidiary of Corteva, Inc., is the Plan sponsor.

Effective August 1, 2024 ("Effective Date"), the Company's Stoller USA 401(k) Plan ("Stoller USA Plan") and Symborg 401(k) Plan ("Symborg Plan") merged into the Plan. As a result, the Stoller USA Plan's total cash assets of $2,495,498 from participants, and the Symborg Plan's total cash assets of $89,916 from participants, were transferred to the Plan as of the Effective Date.

**Administration**

The Plan Administrator is the Benefit Plans Administrative Committee, whose members are appointed by Corteva Agriscience, LLC (formerly EIDP). The Savings Plan Investment Committee, whose members are also appointed by Corteva Agriscience, LLC, has responsibility for selecting and overseeing the Plan investments and determining the Plan's valuation policies utilizing information provided by the investment advisers, custodians and insurance companies. Through December 31, 2023, DuPont Capital Management Corporation ("DCMC"), a registered investment adviser and wholly-owned subsidiary of Corteva, had oversight responsibility for the investment managers and evaluated the funds' performance under the Master Trust, except for the Stable Value Fund, which remains actively managed by DCMC. Effective January 1, 2024, the Savings Plan Investment Committee delegated certain Plan investment management responsibilities to NEPC, LLC, which serves as a fiduciary investment manager under ERISA. Corteva Agriscience, LLC holds authority to appoint trustees and has designated Bank of America, N.A. ("Bank of America") and Northern Trust Corporation ("Northern Trust") as trustees for the Plan. Bank of America is the trustee for the balances in common stocks, mutual funds held in the participant-directed brokerage accounts, and notes receivable from participants. Merrill Lynch, Pierce, Fenner & Smith Incorporated, a wholly-owned subsidiary of Bank of America, provides recordkeeping and participant services. Northern Trust is the trustee for the Corteva Agriscience Defined Contribution Plan Master Trust (the "Master Trust") in which the Plan participates. See Note 3 for further information.

**Participation**

All employees of the Company or the Company's subsidiaries and general partnerships that have adopted the Plan are immediately eligible to participate in this Plan upon hire, except represented employees in a bargaining unit that has not accepted the terms of this Plan and individuals who are classified by the Company as leased employees and independent contractors. Individuals who are receiving severance pay, retainer, or other fees under contract are not eligible to elect or receive contributions in the Plan with respect to such compensation. Temporary employees are immediately eligible for participation in the Plan. Temporary employees are defined as individuals hired to complete a special project of limited duration or to fill the vacancy of an employee who is on a leave of absence.

**Contributions**

Eligible employees may participate in the Plan by authorizing the Company to make payroll deductions. Participants may elect to make before-tax, Roth 401(k) or after-tax contributions of 1% to 90% of eligible compensation, as defined. Participants who have attained age 50 before the end of the Plan year are eligible to make catch-up contributions.

Participants are automatically enrolled in the Plan at a 6% before-tax savings rate and increased 1% annually, up to a maximum of 15% of pay, if no action is taken by the employee within 60 days from the date of hire.

Under automatic enrollment, the participant assets are invested in accordance with a managed account feature serving as the Plan's Qualified Default Investment Alternative ("QDIA"). The managed account feature is PersonalManager<sup>®</sup>, which is offered

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through Bank of America's Advice Access. The participant may elect not to participate in the Plan at any time. All of the above participant's savings and elections are subject to regulatory and Plan limitations.

The Company makes a matching contribution equal to 100% of a participant's contribution, up to 6% of eligible compensation. In addition, the Company makes a contribution ("Retirement Savings Contribution"), annually in the first quarter following the plan year, only to participants who are actively employed on December 31 of the applicable plan year, currently equal to 3% of eligible pay, regardless of the employee's contribution election. Contributions to the Plan are subject to certain limits imposed by the U.S. Internal Revenue Service ("IRS") and the Plan terms.

A participant is not able to transfer funds into Corteva common stock if their balance of Corteva common stock equals or exceeds 20% of their total account balance.

**Participant Accounts**

The Plan's recordkeeper maintains an account in the name of each participant to which each participant's contributions, Company's matching contributions, Retirement Savings Contributions and allocations of Plan net earnings and losses, if any, are recorded. Allocations are based on participant earnings or account balances, as defined. The benefit to which a participant is entitled is the benefit that can be provided from the participant's vested account.

**Investments**

Participants direct the investment of the contributions into various investment options offered by the Plan. Through the Master Trust, the Plan offers five passively managed index funds, six actively managed custom-designed funds, eleven target retirement funds, and a stable value fund as of December 31, 2024. Additionally, the Plan currently offers Corteva common stock and a self-directed brokerage account where participants can choose from various funds and mutual fund families. The Plan also contains an Employee Stock Ownership Plan where participants can elect to have dividends on common stock distributed to them in cash instead of being reinvested in their Plan account. For the year ended December 31, 2024, $41,166 in dividends were distributed to participants in cash.

**Vesting**

Participant contributions and the Company's matching contributions are fully and immediately vested. Retirement Savings Contributions are fully vested after any of the following circumstances:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The participant has completed at least three years of service with the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The participant reaches age 65 while working for the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The participant terminates employment with the Company due to becoming totally disabled while working for the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The participant's job with the Company is eliminated;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The participant's spouse is transferred by the Company to an employment location outside the immediate geographic area while the participant is working for the Company, and the participant terminates employment with the Company;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The participant dies while actively employed by the Company.

**Notes Receivable from Participants**

Participants may borrow up to one-half of their non-forfeitable account balances, excluding the Retirement Savings Contribution account, subject to a $1,000 minimum and up to a maximum equal to the lesser of $50,000 (less the participant's highest outstanding loan balance during the previous 12 months) or 50% of their account balance. The loans are executed by promissory notes and have a minimum term of 1 year and a maximum term of 10 years, except for qualified residential loans, which have a maximum term of 15 years. Loans previously transferred into the Plan could have a maximum original term of 15 years. The rate of interest on loans are commensurate with the prevailing interest rate charged on similar loans made within the same locale and time period and remain fixed for the life of the loan. The loans are repaid over the term in installments of principal and interest by deduction from pay or through Automated Clearing House ("ACH") account debit. A participant also has the right to repay the loan in full, at any time, without penalty. At December 31, 2024, loan interest rates ranged from 4.25% to 9.50%.

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**Withdrawals**

Participants may make a hardship withdrawal from their account for specified reasons set forth in the Plan upon establishing an immediate and heavy financial need. The amount of the hardship withdrawal cannot exceed the amount necessary to satisfy the financial need, including any amounts necessary to pay taxes or penalties reasonably expected to result. Additionally, a participant may request an in-service withdrawal of certain contributions and their investment earnings upon reaching the age of 59 ½.

**Payment of Benefits**

Participants may request a full distribution of their accounts when they terminate employment with the Company. However, the Retirement Savings Contributions will be paid only to the extent that they are vested in the employee's account. On separation from service, a participant also may elect to receive the value of their account balance in installment payments. Required minimum distributions will begin in April of the calendar year following the latter of the year in which the participant attains the required minimum distribution age or the year following retirement or termination of employment. As a result of the Consolidated Appropriations Act of 2023, which includes the Setting Every Community Up Retirement Enhancement ("SECURE") 2.0 Act, the required minimum distribution age is 70 ½ for anyone born before July 1, 1949, age 72 for anyone born on or between July 1, 1949 and December 31, 1950, age 73 for anyone born on or between January 1, 1951 and December 31, 1959, and age 75 for anyone born on or after January 1, 1960.

**Forfeited Accounts**

At December 31, 2024 and 2023, forfeited nonvested accounts totaled $282,192 and $9,582, respectively. Forfeited amounts are used to restore Retirement Savings Contributions, as defined by the Plan, as well as previously forfeited distributions and accounts of participants who have forfeited amounts but again become covered employees under the Plan, and to pay reasonable Plan administrative expenses. If any forfeited amounts remain at the end of a Plan Year, they will be used to reduce Company matching contributions, as defined by the Plan. A participant's account may be reinstated if the participant becomes a covered employee by the Plan prior to incurring five consecutive one-year breaks in service. The participant account will be reinstated as soon as practicable after the date the participant becomes a covered employee. Forfeited accounts of $613,901 were used to reduce employer contributions for the year ended December 31, 2024. In addition, forfeited accounts were used to reinstate participant accounts and pay for administrative expenses in the amounts of $597,133 and $172,469, respectively.

**Administrative Expenses**

Reasonable Plan administrative expenses, including but not limited to, recordkeeping expenses and transactional costs, may be paid by the Plan, at the election of the Savings Plan Investment Committee. Administrative expenses paid by the Plan for the year ended December 31, 2024 were $1,085,176, which excludes expenses paid by the Master Trust. Investment fees, trustee fees and other expenses related to the administration of the funds held in the Master Trust, as defined by the Plan, will be included in the cost of such funds or deducted from the value of the funds. Any other reasonable expenses associated with the administration of the Plan, such as communication fees, legal fees or compliance-related fees, may be paid by the Plan as permitted by ERISA if not paid by the Company.

**NOTE 2 — SIGNIFICANT ACCOUNTING POLICIES**

**Basis of Accounting**

The accompanying financial statements of the Plan have been prepared on the accrual basis of accounting in accordance with generally accepted accounting principles in the United States of America ("GAAP").

**Use of Estimates**

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, and changes therein and disclosure of contingent assets and liabilities. Actual results could differ from those estimates.

**Risks and Uncertainties**

The Plan utilizes various investment options, which include investments in the Master Trust, in any combination of equities, fixed income securities, mutual funds, common collective trusts, traditional, separate account and synthetic guaranteed investment contracts ("GICs"), currency and commodities, futures, forwards, options and swaps. Investment securities, in

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general, are exposed to various risks, such as interest rate risk, credit risk, and overall market volatility. Market risks include global events which could impact the value of investment securities, such as a pandemic, international conflict or significant changes in trade, tax or other policies. Due to the level of risk associated with certain investment securities, it is at least reasonably possible that changes in the values of investment securities will occur in the near term and that such change could materially affect participants' account balances and the amounts reported in the financial statements.

**Investment Valuation and Income Recognition**

The Plan's investments are stated at fair value, except for fully benefit-responsive investment contracts, which are reported at contract value. Fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Common stocks and exchange traded funds are valued at the year-end market price of the respective financial instruments. The mutual funds, included in the participant-directed brokerage account investments, consist of shares of registered investment companies comprised of equity and fixed income funds and are valued at the net asset value of shares held by the Plan at year-end.

Net appreciation (depreciation) includes the Plan's gains and losses on investments bought and sold as well as held during the year.

Purchases and sales of investments are recorded on a trade-date basis. Realized gains and losses on the sale of common stocks are based on average cost of the securities sold. Interest income is recorded on the accrual basis. Dividend income is recorded on the ex-dividend date. Capital gains distributions are included in dividend income.

**Notes Receivable from Participants**

Notes receivable from participants are measured at their unpaid principal balance plus any accrued but unpaid interest. Delinquent participant loans are recorded as distributions based on the terms of the Plan document.

**Contributions**

Contributions from Plan participants are recorded in the year when they are withheld from compensation. The Company's matching contribution and the Retirement Savings Contributions are recorded in the year when they are earned.

**Payment of Benefits**

Benefit payments to participants are recorded upon distribution. Amounts allocated to accounts of persons who have elected to withdraw from the Plan, but have not yet been paid, were $4,932,224 and $4,273,461 at December 31, 2024 and 2023, respectively.

**NOTE 3 — INTEREST IN MASTER TRUST**

The objective of the Master Trust is to allow participants from affiliated plans to invest in several custom designed investment choices through separately managed accounts. The Master Trust contains several actively managed investment pools and commingled index funds offered to participants as "core investment options" and "age-targeted options". The investment pools are managed by different investment managers through separately managed accounts at Northern Trust. The Master Trust also includes a stable value investment option (the "Stable Value Fund").

At December 31, 2024 and 2023, no other plans participated in the Master Trust.

To participate in the Master Trust, affiliates who sponsor qualified savings plans and who have adopted the Master Trust Agreement are required to make payments to Northern Trust of designated portions of employees' savings and other contributions by the affiliate. Investment income relating to the Master Trust is allocated based on the individual Plan's specific interest within the Master Trust.

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**Master Trust Investments**

The investments of the Master Trust are reported at fair value, except fully benefit-responsive investment contracts, which are reported at contract value. Purchases and sales of the investments within the Master Trust are reflected on a trade-date basis. Dividend income is recorded on the ex-dividend date. Interest income is recorded on the accrual basis.

Mutual funds are valued at the net asset value of shares held by the Master Trust at year-end. Units held in common collective trusts ("CCTs") are valued at the net asset value as reported by the CCTs' trustee as a practical expedient to estimate fair value.

Common stock, preferred stock, exchange traded funds, options and futures held in the separately managed accounts and traded in active markets on national and international securities exchanges are valued at the closing price, the price of the last trade, or the mid-price on the last business day of each period presented.

Fixed income securities are valued using either the reported bid price at the close of business or pricing models maximizing the use of observable inputs for similar securities. This includes basing value on yields currently available on comparable securities of issuers with similar credit ratings.

Forward foreign currency contracts, held in the separately managed accounts, are valued at fair value, as determined by Northern Trust (or independent third parties on behalf of the Master Trust), using quoted forward foreign currency exchange rates. At the end of each period presented, open contracts are valued at the current forward foreign currency exchange rates, and the change in market value is recorded as an unrealized gain or loss. When the contract is closed or delivery taken, the Master Trust records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.

Swap contracts, held in the separately managed accounts, are valued at fair value, as determined by Northern Trust (or independent third parties on behalf of the Master Trust) utilizing pricing models and taking into consideration exchange quotations on underlying instruments, dealer quotations and other market information.

Investments denominated in currencies other than the United States dollar are converted using exchange rates prevailing at the end of the periods presented. Purchases and sales of such investments are translated at the rate of exchange on the respective dates of such transactions.

The Plan includes certain restrictions designed to prevent market timing transactions and excessive trading that prohibit the purchase and subsequent sale of certain funds within a specified timeframe. There is a minimum waiting period block of five business days which applies to all sell orders and repurchases of all Master Trust funds except the Stable Value Fund, for which there is no minimum waiting period.

**Description of the Master Trust's Investment Contracts**

The Master Trust holds three types of investment contracts that are fully benefit-responsive: traditional guaranteed investment contracts ("GICs"), synthetic GICs and separate account GICs. These investment contracts are measured at contract value. Contract value is the relevant measurement attributable for the portion of the net assets available for benefits of a defined contribution plan attributable to fully benefit-responsive investment contracts because contract value is the amount participants would receive if they were to initiate permitted transactions under the terms of the Plan. Contract value represents contributions made under the contracts, plus earnings, less participant withdrawals and administrative expenses.

Traditional GICs are comprised of assets held in the issuing company's general account and are backed by the full faith and credit of the issuer. Synthetic and separate account GICs are backed by fixed income assets and are wrapped by the financially responsible insurance company. The Master Trust owns the underlying investments of the synthetic GICs, whereas for the separate account GICs, the Master Trust receives title to the investment contract invested in insurance company separate accounts established for the sole benefit of Stable Value Fund participants, but not the direct title to the assets in the separate account. Through February 29, 2024, the underlying investments held within certain of the synthetic GICs were comprised of DCMC-sponsored GEM Trusts and DCMC-managed futures contracts. After this date, and through February 2025, DCMC continued to manage only the futures contracts related to the synthetic contracts held by the Stable Value Fund. The GEM Trusts were commingled fixed income portfolios managed by DCMC and additional investment managers hired by DCMC that invested in high quality fixed income securities across the short, intermediate and core sectors. The underlying investments wrapped within the separate account contracts are managed by third party fixed income managers and include securities

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diversified across the broad fixed income market, such as, but not limited to, corporate bonds, mortgage related securities, government bonds, asset-backed securities, cash, cash equivalents, and certain non-leveraged derivatives. Short futures positions are used to reduce the duration of certain investment contracts, in an effort to provide protection against rising rates.

Participants may ordinarily direct the withdrawal or transfer of all or a portion of their investment at contract value for plan permitted benefit payments. Certain events may limit the ability of the Plan to transact at contract value with the issuer. Such events include the following: (i) amendments to the Plan documents (including complete or partial Plan termination or merger with another plan); (ii) changes to the Plan's prohibition on competing investment options or deletion of equity wash provisions; (iii) bankruptcy of the Plan sponsor or other Plan sponsor events (i.e. divestitures or spin-offs of a subsidiary) which cause a significant withdrawal from the Plan; or (iv) the failure of the Master Trust to qualify for exemption from federal income taxes or any required prohibited transaction exemption under ERISA. The Plan Administrator does not believe that the occurrence of any such value event, which would limit the Plan's ability to transact at contract value, is probable.

Based on certain events specified in fully benefit-responsive investment contracts, both the Plan/Master Trust and issuers of such investment contracts are permitted to terminate the investment contracts. If applicable, such terminations can occur prior to the scheduled maturity date.

Examples of termination events that permit issuers to terminate investment contracts include the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Plan sponsor's receipt of a final determination notice from the IRS that the Plan does not qualify under Section 401(a) of the IRC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Master Trust ceases to be exempt from federal income taxation under Section 501(a) of the IRC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Plan/Master Trust or its representative breaches material obligations under the investment contract such as a failure to satisfy its fee payment obligations.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Plan/Master Trust or its representative makes a material misrepresentation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Plan/Master Trust makes a material amendment to the Plan/Master Trust and/or the amendment adversely impacts the issuer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The Plan/Master Trust, without the issuer's consent, attempts to assign its interest in the investment contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The balance of the contract value is zero or immaterial.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Mutual consent.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The termination event is not cured within a reasonable time period, i.e., 30 days.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The investment manager of the underlying securities is replaced without the prior written consent of the issuer.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• The underlying securities are managed in a way that does not comply with the investment guidelines.

At termination, the contract value is adjusted to reflect a discounted value based on surrender charges or other penalties for GICs.

If the issuer of a synthetic or separate account GIC chooses to terminate the contract, assuming no breach of contract by the contract holder, the issuer is contractually obligated to deliver to the contract holder either contract value or market value, whichever is greater at the time of termination, less any unpaid fees or charges. If the contract holder chooses to terminate the contract, they can choose to receive a cash value payout equal to the market value of the assets, or, if the market value is less than the contract value, they can choose to enter into a wind-down phase designed to immunize the difference between market and contract values over a time period agreed upon by both parties. The contract holder can choose to replace the contract issuer with a new issuer at any time, provided that all involved parties agree to the terms of transition.

**Financial Instruments with Off-Balance Sheet Risk in the Master Trust**

In accordance with the investment strategy of the managed accounts, the Master Trust's investment managers execute transactions in various financial instruments that may give rise to varying degrees of off-balance sheet market and credit risk. These instruments can be executed on an exchange or negotiated in the over-the-counter market. These financial instruments include futures, forward settlement contracts, swap and option contracts.

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Swap contracts include interest rate swap contracts which involve an agreement to exchange periodic interest payment streams (typically fixed vs. variable) calculated on an agreed-upon periodic interest rate multiplied by a predetermined notional principal amount.

The Master Trust invests in financial futures contracts solely for the purpose of hedging its existing portfolio securities, or securities that the Master Trust intends to purchase, against fluctuations in fair value caused by changes in prevailing market interest rates. Upon entering into a financial futures contract, the Master Trust is required to pledge to the broker an amount of cash, U.S. government securities, or other assets equal to a certain percentage of the contract amount (initial margin deposit). Subsequent payments, known as variation margin, are made or received by the Master Trust each day, depending on the daily fluctuations in the fair value of the underlying security. The Master Trust recognizes a gain or loss equal to the daily variation margin. If market conditions move unexpectedly, the Master Trust may not achieve the anticipated benefits of the financial futures contracts and may realize a loss. The use of futures transactions involves the risk of imperfect correlation in movements in the price of futures contracts, interest rates, and the underlying hedged assets.

Market risk arises from the potential for changes in value of financial instruments resulting from fluctuations in interest and foreign exchange rates and in prices of debt and equity securities. The gross notional (or contractual) amounts used to express the volume of these transactions do not necessarily represent the amounts potentially subject to market risk. In many cases, these financial instruments serve to reduce, rather than increase, the Master Trust's exposure to losses from market or other risks. In addition, the measurement of market risk is meaningful only when all related and offsetting transactions are identified. The Master Trust's investment managers generally limit the Master Trust's market risk by holding or purchasing offsetting positions.

As a writer of option contracts, the Master Trust receives a premium to become obligated to buy or sell financial instruments for a period of time at the holder's option. During this period, the Master Trust bears the risk of an unfavorable change in the market value of the financial instrument underlying the option, but has no credit risk, as the counterparty has no performance obligation to the Master Trust once it has paid its cash premium.

The Master Trust is subject to credit risk of counterparty nonperformance on derivative contracts in a gain position, except for written options, which obligate the Master Trust to perform and do not give rise to any counterparty credit risk.

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The following presents the Master Trust net assets at December 31, 2024 and 2023:

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| | | |
|:---|:---|:---|
| | **2024** | **2023** |
| Assets: |  |  |
| &nbsp;&nbsp;&nbsp;Investments, at fair value: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common stocks | $1729288334 | $1575280792 |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stocks | 5311051 | 6811814 |
| &nbsp;&nbsp;&nbsp;&nbsp;Fixed income securities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Government bonds |  | 6297176 |
| &nbsp;&nbsp;&nbsp;&nbsp; Corporate bonds |  | 17665418 |
| &nbsp;&nbsp;&nbsp;&nbsp; Government mortgage-backed securities | 1339 | 17014333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other<sup>1</sup> |  | 7546847 |
| &nbsp;&nbsp;&nbsp;&nbsp;Mutual funds | 20965394 | 20964978 |
| &nbsp;&nbsp;&nbsp;&nbsp;Exchange traded funds | 10856546 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common collective trusts | 3270747245 | 3011092438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investments at fair value | 5037169909 | 4662673796 |
| &nbsp;&nbsp;&nbsp;Investments, at contract value: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Separate account GICs | 674066352 | 712627158 |
| &nbsp;&nbsp;&nbsp;&nbsp;Traditional GICs | 110712073 | 208120702 |
| &nbsp;&nbsp;&nbsp;&nbsp;Synthetic GICs | 1026859103 | 1095577210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investments at contract value | 1811637528 | 2016325070 |
| &nbsp;&nbsp;&nbsp;Cash | 701762 | 927499 |
| &nbsp;&nbsp;&nbsp;Receivables for securities sold | 1400597 | 7853939 |
| &nbsp;&nbsp;&nbsp;Accrued income | 6862541 | 11732925 |
| &nbsp;&nbsp;&nbsp;Other assets | 170044 | 506538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total assets | 6857942381 | 6700019767 |
| Liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Payables for securities purchased | 3035881 | 9229191 |
| &nbsp;&nbsp;&nbsp;Accrued expenses | 4798765 | 3104105 |
| &nbsp;&nbsp;&nbsp;Other liabilities | 1186 | 108509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 7835832 | 12441805 |
| &nbsp;&nbsp;&nbsp;Master Trust net assets | $6850106549 | $6687577962 |

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___________________________________

1. Other includes bank loans, commercial mortgage-backed securities, asset-backed securities, and non-government backed collateralized mortgage obligations.

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At December 31, 2024 and 2023, the Plan's specific interest in the net assets of the Master Trust was 100%, and therefore the dollar amount of the Plan's interest in each general type of investment, as well as the dollar amount of the Plan's interest in the other assets and liabilities of the Master Trust is equivalent to the total Master Trust balances stated above.

The following presents the net investment income (loss) for the Master Trust for the year ended December 31, 2024:

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| | |
|:---|:---|
| | **2024** |
| Net appreciation (depreciation) in fair value of investments | $638758674 |
| Investment income: |  |
| &nbsp;&nbsp;&nbsp;Interest income | 64721841 |
| &nbsp;&nbsp;&nbsp;Dividend income | 29998547 |
| &nbsp;&nbsp;&nbsp;Investment management expenses | (13293906) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net investment income (loss) | $720185156 |

---

**NOTE 4 — FAIR VALUE MEASUREMENTS**

Accounting Standards Codification Topic 820, *Fair Value Measurements and Disclosures*, provides a framework for measuring fair value. That framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value, as follows: Level 1, which refers to securities valued using unadjusted quoted prices from active markets for identical assets; Level 2, which refers to securities not traded on an active market but for which observable market inputs are readily available; and Level 3, which refers to securities valued based on significant unobservable inputs. Assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement.

Fair value calculations may not be indicative of net realizable value or reflective of future fair values. Furthermore, although the Plan believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different fair value measurement at the reporting date.

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The following table sets forth by level, within the fair value hierarchy, the assets and liabilities of the Plan and the Master Trust at fair value as of December 31, 2024:

---

| | | | |
|:---|:---|:---|:---|
| | **Investments at Fair Value as of December 31, 2024** | **Investments at Fair Value as of December 31, 2024** | **Investments at Fair Value as of December 31, 2024** |
| | **Level 1** | **Level 2** | **Total** |
| Plan investments, excluding interest in Master Trust: |  |  |  |
| &nbsp;&nbsp;&nbsp;Corteva common stock | $104387543 | $— | $104387543 |
| &nbsp;&nbsp;&nbsp;Participant-directed brokerage accounts | 96104203 |  | 96104203 |
| Total Plan investments, at fair value | $200491746 | $— | $200491746 |
| Master Trust investments: |  |  |  |
| &nbsp;&nbsp;&nbsp;Common stocks | $1729288334 | $— | $1729288334 |
| &nbsp;&nbsp;&nbsp;Preferred stocks | 5311051 |  | 5311051 |
| &nbsp;&nbsp;&nbsp;Fixed income securities |  |  |  |
| &nbsp;&nbsp;&nbsp; Government mortgage-backed securities |  | 1339 | 1339 |
| &nbsp;&nbsp;&nbsp;Mutual funds | 20965394 |  | 20965394 |
| &nbsp;&nbsp;&nbsp;Exchange traded funds | 10856546 |  | 10856546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Master Trust investment assets | 1766421325 | 1339 | 1766422664 |
| &nbsp;&nbsp;&nbsp;Other financial instruments<sup>1</sup> |  | 168858 | 168858 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subtotal | 1766421325 | 170197 | 1766591522 |
| Master Trust investments measured at net asset value:<sup>2</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;Common collective trusts |  |  | 3270747245 |
| Total Master Trust assets, at fair value | $1766421325 | $170197 | $5037338767 |

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___________________________________

1. Other financial instruments is primarily comprised of collateral receivable.

2. In accordance with Accounting Standards Update ("ASU") 2015-07, "Fair Value Measurement (Topic 820), Disclosures for Investments in Certain Entities that Calculate Net Asset Value per Share or its Equivalent," certain investments reported at fair value using the net asset value practical expedient have been excluded from the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the total Master Trust investments at fair value.

------

The following table sets forth by level, within the fair value hierarchy, the assets and liabilities of the Plan and the Master Trust at fair value as of December 31, 2023:

---

| | | | |
|:---|:---|:---|:---|
| | **Investments at Fair Value as of December 31, 2023** | **Investments at Fair Value as of December 31, 2023** | **Investments at Fair Value as of December 31, 2023** |
| | **Level 1** | **Level 2** | **Total** |
| Plan investments, excluding interest in Master Trust: |  |  |  |
| &nbsp;&nbsp;&nbsp;Corteva common stock | $102231541 | $— | $102231541 |
| &nbsp;&nbsp;&nbsp;Participant-directed brokerage accounts | 83500120 |  | 83500120 |
| Total Plan investments, at fair value | $185731661 | $— | $185731661 |
| Master Trust investments: |  |  |  |
| &nbsp;&nbsp;&nbsp;Common stocks | $1575280792 | $— | $1575280792 |
| &nbsp;&nbsp;&nbsp;Preferred stocks | 6811814 |  | 6811814 |
| &nbsp;&nbsp;&nbsp;Fixed income securities |  |  |  |
| &nbsp;&nbsp;&nbsp; Government bonds |  | 6297176 | 6297176 |
| &nbsp;&nbsp;&nbsp; Corporate bonds |  | 17665418 | 17665418 |
| &nbsp;&nbsp;&nbsp; Government mortgage-backed securities |  | 17014333 | 17014333 |
| &nbsp;&nbsp;&nbsp; Other |  | 7546847 | 7546847 |
| &nbsp;&nbsp;&nbsp;Mutual funds | 20964978 |  | 20964978 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Master Trust investment assets | 1603057584 | 48523774 | 1651581358 |
| &nbsp;&nbsp;&nbsp;Other financial instruments<sup>1</sup> |  | 398030 | 398030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Subtotal | 1603057584 | 48921804 | 1651979388 |
| Master Trust investments measured at net asset value:<sup>2</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;Common collective trusts |  |  | 3011092438 |
| Total Master Trust assets, at fair value | $1603057584 | $48921804 | $4663071826 |

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___________________________________

1. Other financial instruments include forwards, futures, and options.

2. In accordance with ASU 2015-07, "Fair Value Measurement (Topic 820), Disclosures for Investments in Certain Entities that Calculate Net Asset Value per Share or its Equivalent," certain investments reported at fair value using the net asset value practical expedient have been excluded from the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the total Master Trust investments at fair value.

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The following summarizes CCTs measured at fair value based on net asset value per share as of December 31, 2024 and 2023. Redemption for common collective trusts is permitted daily and there are no unfunded commitments.

---

| | | | |
|:---|:---|:---|:---|
| | **Fair Value** | **Fair Value** | **Redemption Notice Period** |
| | **December 31, 2024** | **December 31, 2023** | |
| Northern Trust Collective Treasury Inflation-Protected Securities (TIPS) Index Fund - Non-Lending | $49108790 | $47095801 | By 9:30 AM CST on valuation date |
| Northern Trust Collective Aggregate Bond Index Fund - Non-Lending | 438997179 | 385599610 | By 9:30 AM CST on valuation date |
| Northern Trust Collective EAFE<sup>®</sup> Index Fund - Non-Lending  | 442222702 | 428831963 | By 9:30 AM CST one business day prior to valuation date |
| Northern Trust Collective US Real Estate Index Fund - Non-Lending | 4674093 | 4934148 | 2024: By 9:30 AM CST on valuation date; <br>2023: By 9:30 AM CST one business day prior to valuation date |
| Northern Trust Collective Russell 2000 Index Fund - Non-Lending | 244931426 | 215545310 | By 9:30 AM CST on valuation date |
| Northern Trust Collective S&P 400<sup>®</sup> Index Fund - Non-Lending | 353421496 | 397887582 | By 9:30 AM CST on valuation date |
| Northern Trust Collective S&P 500<sup>®</sup> Index Fund - Non-Lending | 1553062552 | 1400140019 | By 9:30 AM CST on valuation date |
| Northern Trust Collective Government Short Term Investment Fund | 91607398 | 81611907 | By 2:00 PM CST on valuation date |
| Voya Core Plus Trust Fund Class 1 | 48065505 | 49446098 | By 1:00 PM EST on valuation date |
| Wellington Trust Company National Association Collective Fund II | 44656104 |  | By 4:00 PM EST on valuation date |
|  | $3270747245 | $3011092438 |  |

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------

**NOTE 5 — RELATED PARTY AND PARTY IN INTEREST TRANSACTIONS**

Certain Plan investments are units of CCTs managed by Northern Trust, trustee of the Master Trust, as detailed in the table directly above. Bank of America is the trustee for the balances in common stocks, mutual funds held in the participant-directed brokerage accounts, and notes receivable from participants. Merrill Lynch, Pierce, Fenner & Smith Incorporated, a wholly-owned subsidiary of Bank of America, provides recordkeeping and participant services. In addition, the Plan offers Corteva common stock as an investment option. At December 31, 2024 and 2023, the Plan held 1,832,646 and 2,133,379 shares, respectively, of Corteva common stock valued at $104,387,543 and $102,231,541, respectively.

During the years ended December 31, 2024 and 2023, the Plan purchased $7,898,400 and $11,724,423, respectively, and sold $19,876,147 and $17,843,510, respectively, of Corteva common stock. Dividends received from Corteva common stock for the year ended December 31, 2024 were $1,318,096. Additionally, during the year ended December 31, 2024, Corteva common stock had realized gains of $2,710,809. Transactions in these investments, including related fees, and notes receivables from participants, qualify as party-in-interest transactions which are exempt from the prohibited transaction rules of ERISA.

The Stable Value Fund assets held by the Plan through the Master Trust are managed by DCMC, under the terms of an investment management agreement between DCMC and the Company. DCMC hires additional investment managers to manage a portion of the fixed income assets backing synthetic GICs allocated to the Stable Value Fund. The amount of DCMC costs accrued and paid by the Stable Value Fund was approximately $698,950 for the year ended December 31, 2024. DCMC cost amounts relate to the Master Trust and are allocated to the plans within the Master Trust based on each plan's proportional interest in the Stable Value Fund. These costs qualify as party-in-interest transactions, which are exempt from prohibited transaction rules of ERISA.

**NOTE 6 — PLAN TERMINATION**

Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and to terminate the Plan subject to the provisions of ERISA. In the event of Plan termination, participants would become 100% vested in the Retirement Savings Contributions.

------

**NOTE 7 — TAX STATUS** 

The Plan is a qualified plan pursuant to Section 401(a) of the IRC and the related trust is exempt from federal taxation under Section 501(a) of the IRC. A favorable tax determination letter from the IRS dated May 9, 2017, covering the Plan and amendments through December 16, 2015, has been received by the Plan. Although the Plan has been amended since receiving the determination letter, the Plan Administrator believes that the Plan is designed and is currently operated in accordance with the applicable requirements of the IRC; therefore, no provision for income taxes has been included in the Plan's financial statements.

GAAP requires Plan management to evaluate tax positions taken by the Plan and recognize a tax liability if the Plan has taken an uncertain position that does not rise to a "more likely than not" threshold to be sustained upon examination by the IRS. The Plan Administrator has analyzed the tax positions taken by the Plan and has concluded that as of December 31, 2024 and 2023, there are no uncertain positions taken, or expected to be taken, that would require recognition of a liability or disclosure in the financial statements. The Plan is subject to routine audits by taxing jurisdictions. The Plan Administrator believes the Plan is no longer subject to income tax examinations for years prior to 2019.

**NOTE 8 — RECONCILIATION OF FINANCIAL STATEMENTS TO FORM 5500**

Amounts allocated to withdrawing participants are recorded on the Form 5500 for benefit claims that have been processed and approved for payment prior to December 31<sup>st</sup> but are not yet paid as of that date. The following is a reconciliation of net assets available for benefits per the financial statements at December 31, 2024 and 2023 to the Form 5500:

---

| | | |
|:---|:---|:---|
| | **2024** | **2023** |
| Net assets available for benefits per the financial statements | $7113388268 | $6934207460 |
| &nbsp;&nbsp;&nbsp;Amounts allocated to withdrawing participants | (4932224) | (4273461) |
| &nbsp;&nbsp;&nbsp;Loan balances considered deemed distributions | (545848) | (211210) |
| &nbsp;&nbsp;&nbsp;Adjustment from contract value to fair value for fully benefit-responsive investment contracts held in Master Trust | (92430482) | (94744165) |
| Net assets available for benefits per the Form 5500 | $7015479714 | $6834978624 |

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The following is a reconciliation of notes receivable from participants per the financial statements at December 31, 2024 and 2023 to notes receivable from participants per the Form 5500:

---

| | | |
|:---|:---|:---|
| | **2024** | **2023** |
| Notes receivable from participants per the financial statements | $23400089 | $21313251 |
| &nbsp;&nbsp;&nbsp;Loan balances considered deemed distributions | (545848) | (211210) |
| Notes receivable from participants per the Form 5500 | $22854241 | $21102041 |

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The following is a reconciliation of total additions per the financial statements to total income per the Form 5500 for the year ended December 31, 2024:

---

| | |
|:---|:---|
| | **2024** |
| Total additions per the financial statements | $975281683 |
| &nbsp;&nbsp;&nbsp;2024 adjustment from contract value to fair value for fully benefit-responsive investment contracts held in Master Trust | (92430482) |
| &nbsp;&nbsp;&nbsp;2023 adjustment from contract value to fair value for fully benefit-responsive investment contracts held in Master Trust | 94744165 |
| Total income per the Form 5500 | $977595366 |

---

------

The following is a reconciliation of total deductions per the financial statements to total expenses per the Form 5500 for the year ended December 31, 2024:

---

| | |
|:---|:---|
| | **2024** |
| Total deductions per the financial statements | $798686289 |
| &nbsp;&nbsp;Amounts allocated to withdrawing participants at December 31, 2024 | 4932224 |
| &nbsp;&nbsp;Amounts allocated to withdrawing participants at December 31, 2023 | (4273461) |
| &nbsp;&nbsp;&nbsp;Current year cumulative deemed distributions | 545848 |
| &nbsp;&nbsp;&nbsp;Prior year cumulative deemed distributions | (211210) |
| Total expenses per the Form 5500 | $799679690 |

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**NOTE 9 — SUBSEQUENT EVENTS**

For calendar year 2025, participants with a birth year falling between 1962 and 1965 are eligible for an enhanced $11,250 catch-up contribution limit, applicable to pre-tax and/or Roth 401(k) contributions.

Effective January 1, 2025, the Plan added the Target Retirement 2065 Fund as a participant investment option.

The Plan's QDIA was changed effective March 3, 2025. Absent an investment election being made, participant investments are directed into the Target Retirement Fund that aligns with, or is closest to, the year in which the participant reaches age 65.

Effective April 1, 2025, the investment management responsibilities of NEPC, LLC were expanded to include discretionary oversight for the Stable Value Fund.

The Plan has evaluated subsequent events through the date the financial statements were issued, and has determined that no additional material events occurred which require recognition or disclosure in the financial statements.

------

**RETIREMENT SAVINGS PLAN**

**SUPPLEMENTAL SCHEDULE**

**SCHEDULE OF ASSETS (HELD AT END OF YEAR) AS OF DECEMBER 31, 2024** 

**SCHEDULE H, LINE 4i**

---

| | | | | |
|:---|:---|:---|:---|:---|
|<br>**(a)** | **(b)**<br>**Identity of Issue** | **(c)**<br>**Description of Investment** | **(d)**<br>**Cost** | **(e)**<br>**Current Value** |
| \* | Corteva common stock | Common stock | \*\* | $104387543 |
| \* | Plan interest in the Corteva Agriscience Defined Contribution Plan Master Trust | Master Trust | \*\* | 6757676067 |
| \* | Participant-directed brokerage accounts | Brokerage account | \*\* | 96104203 |
| \* | Notes receivable from participants | 4.25% - 9.50% | \*\* | 22854241 |
|  | **Total Assets Held At End of Year** |  |  | $6981022054 |

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______________________________________

\* Party-in-interest <br> \*\* Cost not required for participant-directed investments

------

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| **Exhibit<br>Number** | **Description** |
| <u>[23.1](a12312024exhibit231.htm)</u> | Consent of Independent Registered Public Accounting Firm |

---

------

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the trustees (or other persons who administer the employee benefit plan) have duly caused this annual report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| |
|:---|
| Retirement Savings Plan |
| /s/ Jennifer Sloan |
| Jennifer Sloan |
| Vice President, Total Rewards, Global Talent Management & People Analytics |

---

June 10, 2025

## Exhibit 23.1

**EXHIBIT 23.1**

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

We hereby consent to the incorporation by reference in the Registration Statement on Form S-8 (No. 333-231869) of Corteva, Inc. of our report dated June 10, 2025 relating to the financial statements and supplemental schedule of Retirement Savings Plan, which appears in this Form 11-K.

/s/ PricewaterhouseCoopers LLP

Philadelphia, Pennsylvania

June 10, 2025

<br>