On October 1, 2026, 15 states and one sovereign commenced litigation in the United States District
Court for the Southern District of Indiana (the "District Court") challenging the separation of Corteva, Inc.
("Corteva" or the "Company") and Vylor Inc. ("Vylor") into two independent, publicly traded companies (the
"Separation") and seeking injunctive relief in connection therewith.
On October 9, 2026, the District Court issued a temporary restraining order (the "Order") in
connection with such litigation. The Order temporarily enjoins (i) Corteva and EIDP, Inc. ("EIDP"), a subsidiary
of Corteva, from disposing of assets outside the ordinary course of their business operations and (ii) the
Company from disposing of assets received in connection with the Separation outside the ordinary course of
its business operations, in each case, absent a court order. The Order enjoins each company from paying
dividends or repurchasing shares of its common stock.
On October 10, 2026, at the request of the Company, Corteva and EIDP, the District Court stayed the
Order pending resolution of an anticipated emergency motion (the "Motion") in the United States Court of
Appeals for the Seventh Circuit for a stay of the Order pending appeal. Shortly thereafter, the Company, Vylor
and EIDP filed a notice of appeal of the Order with the United States Court of Appeals for the Seventh Circuit,
accompanied by the Motion. The Motion and appeal remain pending.
The Order does not affect the completion of the Separation, which occurred on October 1, 2026, and
the Order is not in effect pending resolution of the Motion. In granting the stay, the District Court relied on the
Company’s representation that it did not intend to declare dividends or repurchase shares while the Motion is
pending appellate review. The Company strongly contests the legal and factual bases for the relief sought in
the litigation and intends to continue vigorously defending against the claims asserted, including by pursuing
the appeal and taking all appropriate steps to protect the interests of the Company and its stockholders.