DuPont4Q 2020 Earnings

Conference Call

February 9, 2021

BroaderSet of Ingredients and Solutions

DeeperInnovation and R&D Platform

SharedFocus on Consumer-Oriented End Markets

~$11BExpected Annual

Revenue(1)

~$2.5BExpected Annual

EBITDA(1) (2)

Merger of DuPont N&B and IFF Complete

2

THE

NEW

IFF

A global leader in taste,

scent and nutrition

Leading value-

added ingredients &

solutions provider

STRATEGIC RATIONALE

E X P A N D S R & D

C A P A B I L I T I E S

& E X P E R T I S E

B R O A D E N S

C A T E G O R Y

E X P O S U R E

D I F F E R E N T I A T E D

I N T E G R A T E D

S O L U T I O N S

Unlocking Significant

Value for DuPont

Shareholders

✓ ~$7.3B tax-free cash

proceeds to DuPont

✓ 197.4 million shares

retired via split-off

1. Estimate for 2020 per Nutrition & Biosciences Inc.’s S-1/S-4 filing on December 31, 2020.

2. Before anticipated benefit of cost synergies

DuPont Well Positioned to Continue Delivering Shareholder Value

3

Net Debt / EBITDA(2)

Gross Debt Balancesin billions

YE 2019 YE 2020(1) Target

3.0x

17.5 15.610.6

YE 2019 YE 2020(1) PostN&B/IFF(3)

• Intend to use $5 billion of

proceeds from IFF to de-lever

in 1H 2021; $3B term loan

repaid in Feb. 2021

• Expect to maintain >90%

conversion

• Targeting run & maintain cash

balances of ~$1.5B

Financial Policy Highlights

Strong balance sheet

• Committed to a strong investment grade credit profile

Internal investment

• Maintaining CapEx at ~5% of Net Sales and R&D at ~4%

of Net Sales

• Differentiated across businesses; targeted at high-growth

opportunities

Dividends(4)

• Maintain current annual dividend of $1.20/share

• Increase payout ratio to 35-45%; grow dividend annually

with earnings

Portfolio management and acquisitions

• Accelerate growth in strategic areas through acquisitions

Share repurchase(4)

• Intend to resume share repurchase under existing

authorization

(1) Excludes N&B senior unsecured notes and associated cash which is included in Restricted Cash as of December 31, 2020.

(2) Includes debt adjustments for pensions and operating leases. EBITDA refers to operating EBITDA as defined on slide 16.

(3) Reflects retirement of the $3 billion term loan on February 1, 2021 and anticipated redemption of the $2 billion notes in 1H 2021

(4) Subject to approval of the DuPont Board of Directors. Under its existing authorization which expires June 2021, the Company may repurchase up to about $1B of its common stock

without further Board action.

2.95x

2.75x

Further Progress on Portfolio ManagementWinding-down of Non-Core Segment

4

Actions Since

June 2019

Impact

>$1.3B revenue

divested**

>$2.2Bcash

proceeds

* Includes divestitures signed and announced but not yet closed; Biomaterials, Clean Technologies & Solamet. Closing of these divestitures subject to regulatory approval and

customary closing conditions. Excludes the separation of Nutrition & Biosciences.

** Based on FY 2018 revenues

Active Portfolio Management

Delivering Results

✓ Divested low growth, low

margin businesses

✓ Identified strategic owners for

businesses not core to DuPont

✓ Reduced volatility from

operating results

9businesses

divested*

Mobility &

Materials

› Advanced Solutions

› Engineering Polymers

› Performance Resins

$4.0B

Water &

Protection

› Safety Solutions

› Shelter Solutions

› Water Solutions

$5.0B

Electronics &

Industrial

› Industrial Solutions

› Interconnect Solutions

› Semiconductor Technologies

$4.7B

Note – DuPont has signed agreements to divest the Biomaterials, Clean Technologies and Solamet businesses and these divestitures are expected to

occur during 1H 2021 subject to regulatory approval and customary closing conditions. DuPont will report these businesses in the Corporate Segment

through the date of the divestitures. These businesses represent approximately $0.6 billion of Net Sales in FY2020.

Focused Portfolio in Three Strategic Verticals

2020 Net Sales 2020 Net Sales2020 Net Sales

4Q 2020 Financial Highlights

6

Net Sales of $5.3B

Portfolio (1)%, Currency 2%,

Volume 1%, Price (1)%

NET SALES

$5.3 billion

+1%

ORGANIC

SALES(1)

Flat

› Organic Sales by Segment – E&I (+8%), N&B

(+2%), T&I (-1%), S&C (-6%), Non-Core (Flat)

› Organic Sales by Region – U.S. & Can. (-3%), EMEA

(-2%), Asia Pac (+3%), Lat. Am. (+3%)

› Sequential year-over-year volume improvement

across all segments

› Strong demand in Tyvek® protective garments

(S&C), probiotics (N&B), home and personal care

(N&B), smartphones (E&I) and semiconductor

technologies (E&I / T&I)

› Automotive demand continues to improve off 2nd

quarter lows

› Weak demand in aerospace, oil/gas, commercial

construction and select industrial markets

Operating EBITDA margin expansion of

140 basis points across core segments

OPERATING

EBITDA(1)

$1.3 billion

Adjusted

EPS(1)

$0.95 / share

› Delivered ~$130 million of non-manufacturing

cost savings (mostly G&A); achieved full-year

target of $280 million

› Approximately two-thirds of cost savings are

structural

› 4Q 2019 results include ~$160 million

($0.17/share) discrete gains primarily

associated with customer settlements in the

Non-Core segment that did not repeat in 2020

› Adjusted EPS flat with prior year; lower base

tax rate, lower interest expense, and a lower

share count were offset by lower segment

results.

Free Cash Flow(1) of

~$1.0 billion

4Q 2020 Cash from

Operating Activities

~$1.3 billion

› Capital expenditures of $272 million in 4Q

2020; meeting FY target of $1.0 billion

› Working capital improvements of more than

$500 million in the quarter; ~$850 million

for the year

› Enabled the reduction of commercial paper

balances by more than $1.8 billion during

the year; ended 2020 with zero commercial

paper outstanding

(1) Organic sales, operating EBITDA, adjusted EPS, and free cash flow are non-GAAP measures. Operating EBITDA margin, decremental margin, and free

cash flow conversion are derived from non-GAAP measures. Refer to slide 16 for definitions and additional information.

Net Sales $15.39 - $15.59 billion $14.34 billion

Operating

EBITDA(1)$3.83 - $3.93 billion $3.44 billion

Adjusted

EPS(1)$3.30 to $3.45 $2.01

Net Sales $3.75 - $3.85 billion $3.67 billion

Operating

EBITDA(1)$950 - $970 million $907 million

Adjusted

EPS(1)$0.75 to $0.77 $0.48

7

(1) Operating EBITDA and Adjusted EPS is a non-GAAP measure. Refer to slide 16 for definitions and additional information.

(2) Represents preliminary recast of 1Q and FY 2020 reflecting Nutrition & Biosciences as discontinued operations. Reconciliations to DuPont historical results are included on

pages 18 and 19 of the earnings news release.

(3) Clean Technologies, Biomaterials and Solamet business divestitures are expected to occur during 1H 2021 subject to regulatory approval and customary closing conditions.

FY 2021

Estimates

FY 2020

Recast(2)

1Q 2021

Estimates

1Q 2020

Recast(2)

Financial Outlook

✓ Full year financial results of Clean Technologies, Biomaterials and Solamet included in the 1Q and FY 2021 estimates above(3)

✓ Segment-level restatements of historical periods expected in mid-to-late February

✓ Full-year 2018 and quarterly periods for 2019 and 2020 restated to reflect:

▪ N&B as discontinued operations

▪ Elimination of Non-Core segment

▪ Segment realignments

All estimates exclude Nutrition & Biosciences which will be reflected as discontinued operations

Appendix

Water & Protection

Safety

Solutions

Shelter

Solutions

Water

Solutions

Updated business reporting segments

Electronics & Imaging

Image

Solutions

Interconnect

Solutions

Semiconductor

Technologies

FROM

Transportation & Industrial

Healthcare &

Specialty

Industrial &

Consumer

Mobility

Solutions

Safety & Construction

Safety

Solutions

Shelter

Solutions

Water

Solutions

Non-Core*

Electronics & Industrial

Industrial

Solutions

Interconnect

Solutions

Semiconductor

Technologies

Mobility & Materials

Advanced

Solutions

Engineering

Polymers

Performance

Resins

*Biomaterials, Clean Technologies and Solamet to be aligned to Corporate

Businesses that are shifting to

Mobility & Materials

Microcircuit Materials

DuPont Teijin Films JV

Tedlar® materials

Businesses that are shifting to

Electronics & Industrial

Kalrez® materials/ Vespel®

parts and shapes

MOLYKOTE®

Liveo™ healthcare silicones

TO

1) Organic sales is a non-GAAP measure. Refer to slide 16 for definitions and additional information.

4Q 2020 Net Sales Bridge

10

4Q19 Portfolio Currency Electronics &

Imaging

Nutrition &

Biosciences

Transportation &

Industrial

Safety &

Construction

Non-Core 4Q20

$5,204 $5,252

+1%

-1% +2%+8% +2% -1% -6%

Flat

Divestments of:

› Trichlorosilane

business (Non-Core)

› Compound

Semiconductor

Solutions (E&I)

Acquisition of:

› Water businesses

(S&C)

In M

illi

on

s

Semiconductor

Technologies

Interconnect

Solutions

Image Solutions

Food &

Beverage

Health &

Biosciences

Pharma

Solutions

Mobility

Solutions

Healthcare &

Specialty

Industrial &

Consumer

Water Solutions

Safety Solutions

Shelter

Solutions

Organic Sales(1) Flat

Net Sales(Organic Change

v. 4Q’19)

Operating

EBITDA(Change v. 4Q’19)

Operating

EBITDA

Margin(1)

(Change v. 4Q’19)

Segment Highlights

Electronics &

Imaging$1,021 million

+8%

$323 million+10%

31.6%+30 bps

• Semiconductor and smartphones drove top-line growth

• Productivity and favorable product mix drove operating leverage

and more than offset headwind from prior year gain of ~$20

million

Nutrition &

Biosciences$1,502 million

+2%

$341 million+8%

22.7%+100 bps

• Continued strength in probiotics and home & personal care

markets

• Oil & gas and select industrial markets remain soft

• Cost actions and favorable product mix drove operating leverage

more than offsetting impact of planned lower production rates

Transportation &

Industrial$1,168 million

(1%)

$317 million+14%

27.1%+310 bps

• Volume improvement offset by pricing headwinds

• Productivity drove operating leverage

Safety &

Construction$1,224 million

(6%)

$310 millionFlat

25.3%+40 bps

• Continued gains in Tyvek® protective garments partially offset

soft aerospace, oil & gas and select industrial markets

• Strength in residential construction and do-it-yourself

applications

• Water demand remains strong; shipping delays impact YOY

growth

Core Segment Results – 4Q 2020

111) Operating EBITDA margin calculated as total operating EBITDA divided by net sales.

4Q 2020 Adjusted EPS(1) Bridge

12

4Q19

Adjusted EPS(1)Cost Savings 2019 Discrete

GainsPortfolio ImpactsPrice (primarily

T&I) & Manuf.

Headwinds

(primarily N&B)

Other 4Q20

Adjusted EPS(1)

$0.95 $0.95

Segment Results

› Interest +$0.02

› Base tax rate +$0.09

1) Adjusted EPS is a non-GAAP measures. Refer to slide 16 for definitions and additional information.

1Q 2021 End-Market Expectations

13

Key

Drivers

• Solid demand in

Semiconductor

Technologies expected to

continue

• Strong smartphone demand

expected to continue

• IHS expecting global auto builds of

20.5 million in 1Q 2021

• Price/mix down low-single digits v.

1Q 2020 from nylon headwinds;

sequential improvement from

4Q20

• Demand for Tyvek® protective

garments, residential

construction remains strong

• Demand in Water Solutions

remains strong; expect return to

mid to high single-digit growth in

1Q 2021

• Aerospace, oil & gas and other

industrial markets continue to be

challenged leading to declines in

Safety Solutions

• Commercial construction (~60%

of Shelter business) remains soft

SegmentElectronics &

IndustrialMobility &

MaterialsWater &

Protection

Additional Modeling Guidance – Full Year 2021

14

Below-the-line estimates:

Base Tax Rate 21% - 23%

D&A Includes Merger-Related Amortization

~$1,370 million, pre tax

Merger-Related Amortization ~$490 million, pre tax

Interest Expense(1) ~$525 million, pre tax

Exchange (Gains)/Losses ~$40 million, after tax

Non-Controlling Interest ~$30 million, after tax

Share count – diluted(4)

Weighted Average

~605 million – 1Q 2021

~555 million – FY 2021

1) Interest expense expected to decline through the year with debt paydown in Feb 2021 ($3B term loan) and anticipated redemption in May 2021 ($2B bond).

2) Subject to approval of the DuPont Board of Directors. Under its existing authorization which expires June 2021, the Company may repurchase up to about $1B of its common stock without further

Board action.

3) Includes estimate of transaction costs related to N&B and Non-Core Transactions. The transaction costs are treated as a “significant item” during the quarter and is excluded from Operating EBITDA

and Adjusted EPS

4) Excludes benefit from any future share repurchases.

Items included in Operating EBITDA:

R&D ~$600 - 650 million

Corporate Cost ~$135 million

Other Cash Uses:

Capital Expenditures ~$825 million

Dividends(2) ~$640 million

Transaction Costs(3) ~$175 - $200 million

Safe Harbor StatementCautionary Statement Regarding Forward Looking Statements

This communication 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," and similar expressions and variations or negatives of these words.

On April 1, 2019, the company completed the separation of its materials science business into a separate and independent public company by way of a pro rata dividend-in-kind of all the then

outstanding stock of Dow Inc. (the “Dow Distribution”). The company completed the separation of its agriculture business into a separate and independent public company on June 1, 2019, by way

of a pro rata dividend-in-kind of all the then outstanding stock of Corteva, Inc. (the “Corteva Distribution” and together with the Dow Distribution, the “DWDP Distributions”).

On February 1, 2021 the Company completed the divestiture of the Nutrition & Biosciences (“N&B”) business to International Flavors & Fragrance Inc. (“IFF”) in a Reverse Morris Trust transaction

(the “N&B Transaction”) that resulting in IFF issuing shares to DuPont stockholders.

Forward-looking statements address matters that are, to varying degrees, uncertain and subject to risks, uncertainties and assumptions, many of which that are beyond DuPont's control, that could

cause actual results to differ materially from those expressed in any forward-looking statements. Forward-looking statements do not guarantee future results. Some of the important factors that

could cause DuPont's actual results to differ materially from those projected in any such forward-looking statements include, but are not limited to: (i) ability to achieve anticipated tax treatments in

connection with the N&B Transaction or the DWDP Distributions; (ii) changes in relevant tax and other laws; (iii) indemnification of certain legacy liabilities of E. I. du Pont de Nemours and

Company ("EID") in connection with the Corteva Distribution; (iv) risks and costs related to the DWDP Distributions and the N&B Transaction and potential liability arising from fraudulent

conveyance and similar laws; (v) risks and costs related to the performance under and impact of the cost sharing arrangement by and between DuPont, Corteva, Inc. and The Chemours Company

related to future eligible PFAS costs; (vi) failure to effectively manage acquisitions, divestitures, alliances, joint ventures and other portfolio changes, including meeting conditions under the Letter

Agreement entered in connection with the Corteva Distribution, related to the transfer of certain levels of assets and businesses; (vii) uncertainty as to the long-term value of DuPont common stock;

(viii) potential inability or reduced access to the capital markets or increased cost of borrowings, including as a result of a credit rating downgrade; (ix) risks and uncertainties related to the novel

coronavirus (COVID-19) and the responses thereto (such as voluntary and in some cases, mandatory quarantines as well as shut downs and other restrictions on travel and commercial, social and

other activities) on DuPont’s business, results of operations, access to sources of liquidity and financial condition which depend on highly uncertain and unpredictable future developments,

including, but not limited to, the duration and spread of the COVID-19 outbreak, its severity, the actions to contain the virus or treat its impact, and how quickly and to what extent normal economic

and operating conditions resume; and x) other risks to DuPont's business, operations and results of operations discussed in DuPont’s annual report on Form 10-K for the year ended December 31,

2019 and its subsequent reports on Form 10-Q and Form 8-K. Unlisted factors may present significant additional obstacles to the realization of forward-looking statements. Consequences of

material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss,

legal liability to third parties and similar risks, any of which could have a material adverse effect on DuPont’s consolidated financial condition, results of operations, credit rating or liquidity. You

should not place undue reliance on forward-looking statements, which speak only as of the date they are made. DuPont assumes 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.

15

Safe Harbor StatementCautionary Statement About Forward-Looking Statements, continued

Non-GAAP Financial Measures:

This presentation includes information that does not conform to accounting principles generally accepted in the United States of America (“U.S. GAAP”) and are considered non-GAAP measures. Management uses these measures internally for

planning, forecasting and evaluating the performance of the Company, including allocating resources. DuPont’s management believes these non-GAAP financial measures are useful to investors because they provide additional information

related to the ongoing performance of DuPont to offer a more meaningful comparison related to future results of operations. These non-GAAP financial measures supplement disclosures prepared in accordance with U.S. GAAP, and should not

be viewed as an alternative to U.S. GAAP. 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 U.S. GAAP are provided

in the Selected Financial Information and Non-GAAP Measures in the accompanying earnings news release and on the Investors section of the Company's website. Non-GAAP measures included in this release are defined below. The

Company does not provide forward-looking U.S. GAAP financial measures or a reconciliation of forward-looking non-GAAP financial measures to the most comparable U.S. GAAP financial measures on a forward-looking basis because the

Company is unable to predict with reasonable certainty the ultimate outcome and timing of certain future events. These events include, among others, the impact of portfolio changes, including asset sales, mergers, acquisitions, and

divestitures; contingent liabilities related to litigation, environmental and indemnifications matters; impairments; and discrete tax items. These items are uncertain, depend on various factors, and could have a material impact on U.S. GAAP

results for the guidance period.

Adjusted earnings per common share from continuing operations - diluted ("Adjusted EPS"), is defined as earnings per common share from continuing operations - diluted, excluding the after-tax impact of significant items, after-tax impact of

amortization expense associated with intangibles acquired as part of the Merger and the after-tax impact of nonoperating pension / other post employment benefits (“OPEB”) benefits / charges. Although amortization of Historical EID intangibles

acquired as part of the Merger is excluded from these non-GAAP measures, management believes it is important for investors to understand that such intangible assets contribute to revenue generation. Amortization of intangible assets that

relate to past acquisitions will recur in future periods until such intangible assets have been fully amortized. Any future acquisitions may result in amortization of additional intangible assets. Management estimates amortization expense in 2021

associated with intangibles acquired as part of the DWDP Merger to be approximately $490 million on a pre-tax basis, or approximately $0.70 per share.

Operating EBITDA, is defined as earnings (i.e. income (loss) from continuing operations before income taxes) before interest, depreciation, amortization, non-operating pension / OPEB benefits / charges, and foreign exchange gains / losses,

adjusted to exclude significant items. Operating EBITDA margin is calculated as operating EBITDA divided by net sales. Decremental margin is calculated as the year-over-year dollar change in operating EBITDA divided by the year-over-year

dollar change in net sales.

Significant items are items that arise outside the ordinary course of the Company’s business that management believes may cause misinterpretation of underlying business performance, both historical and future, based on a combination of

some or all of the item’s size, unusual nature and infrequent occurrence. Management classifies as significant items certain costs and expenses associated with integration and separation activities related to transformational acquisitions and

divestures as they are considered unrelated to ongoing business performance. Management estimates these integration and separation costs in 2021 to be approximately $175 million - $200 million on a pre-tax basis, or approximately $0.25

per share at the mid-point.

Organic Sales is defined as net sales excluding the impacts of currency and portfolio.

Free cash flow is defined as cash provided by/used for operating activities less capital expenditures. As a result, free cash flow represents cash that is available to the Company, after investing in its asset base, to fund obligations using the

Company's primary source of liquidity, cash provided by operating activities. Management believes free cash flow, even though it may be defined differently from other companies, is useful to investors, analysts and others to evaluate the

Company's cash flow and financial performance, and it is an integral measure used in the Company's financial planning process. Free cash flow conversion is defined as free cash flow divided by net income adjusted to exclude non-cash

impairment charges, gains or losses on divestitures, and after-tax Historical EID merger-related amortization.

16

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with the rules or regulations of any countries, regions, localities, etc., or does not infringe upon patents or other intellectual property rights of third parties.

The information provided herein is based on data DuPont believes to be reliable, to the best of its knowledge and is provided at the request of and without charge to our customers. Accordingly,DuPont does not guarantee or warrant such information and assumes no liability for its use. If this product literature is translated, the original English version will control and DuPont hereby

disclaims responsibility for any errors caused by translation. This document is subject to change without further notice.

© 2021 DuPont de Nemours, Inc. All rights reserved.

DuPont™, the DuPont Oval Logo, and all products, unless otherwise noted, denoted with ™, ℠ or ® are trademarks, service

marks or registered trademarks of affiliates of DuPont de Nemours, Inc.