DuPont First Quarter 2015 Earnings

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1 DuPont First Quarter 2015 Earnings Conference Call April 21, 2015

2 Regulation G The attached charts include company information that does not conform to generally accepted accounting principles (GAAP). Management believes that an analysis of this data is meaningful to investors because it provides insight with respect to ongoing operating results of the company. These measures should not be viewed as an alternative to GAAP measures of performance. Furthermore, these measures may not be consistent with similar measures provided by other companies. This data should be read in conjunction with previously published company reports on Forms 10-K, 10-Q, and 8-K. These reports, along with reconciliations of non-gaap measures to GAAP are available on the Investor Center of under Filings and Reports Reconciliations and Other Data. Reconciliations of non-gaap measures to GAAP are also included with this presentation. Forward-Looking Statements This document contains forward-looking statements which may be identified by their use of words like plans, expects, will, believes, intends, estimates, anticipates or other words of similar meaning. All statements that address expectations or projections about the future, including statements about the company's strategy for growth, product development, regulatory approval, market position, anticipated benefits of recent acquisitions, timing of anticipated benefits from restructuring actions, outcome of contingencies, such as litigation and environmental matters, expenditures and financial results, are forward looking statements. Forward-looking statements are not guarantees of future performance and are based on certain assumptions and expectations of future events which may not be realized. Forward-looking statements also involve risks and uncertainties, many of which are beyond the company s control. Some of the important factors that could cause the company s actual results to differ materially from those projected in any such forward-looking statements are: fluctuations in energy and raw material prices; failure to develop and market new products and optimally manage product life cycles; ability to respond to market acceptance, rules, regulations and policies affecting products based on biotechnology; significant litigation and environmental matters; failure to appropriately manage process safety and product stewardship issues; changes in laws and regulations or political conditions; global economic and capital markets conditions, such as inflation, interest and currency exchange rates; business or supply disruptions; security threats, such as acts of sabotage, terrorism or war, weather events and natural disasters; ability to protect and enforce the company's intellectual property rights; successful integration of acquired businesses and separation of underperforming or nonstrategic assets or businesses and successful completion of the proposed spinoff of the Performance Chemicals segment including ability to fully realize the expected benefits of the proposed spinoff. The company undertakes no duty to update any forward-looking statements as a result of future developments or new information. Developing Markets Total developing markets is comprised of Developing Asia, Developing Europe, Middle East & Africa, and Latin America. A detailed list of all developing countries is available on the Earnings News Release link on the Investor Center website at 1

3 1Q 2015 Financial Highlights* $ in millions, except EPS 1Q15 vs. 1Q14 EPS Operating earnings* $1.34 (15%) GAAP earnings $1.13 (27%) 1Q15 vs. 1Q14 Consolidated Net Sales $9,172 (9%) Volume (1%) Local Prices & Product Mix - Currency Impact (6%) Portfolio (2%) Segment Operating Earnings* $1,943 (14%) * See appendix for reconciliations of Non-GAAP Measures 2

4 1Q 2015 Operating EPS* Variance $0.05 $0.02 ($0.26) ($0.25) Currency ($0.03) ($0.02) $1.58 Operating* EPS $1.34 Operating* EPS 1Q14 Corp & Interest Exp Lower Shares Segment Results Tax Rate EGL 1Q15 Key Factors Lower corporate and interest expense and lower shares outstanding together contributed $0.07 to the quarter Higher tax rate and EGL negatively impacted operating EPS by $0.03 per share and $0.02 per share, respectively Segment results, including a $0.25 per share impact from currency, were down due to challenging agriculture and TiO 2 markets, partially offset by strength in Performance Materials, Electronics & Communication and Safety & Protection * See appendix for details of significant items and reconciliation of Non-GAAP Measures 3

5 Global Sales Regional Highlights 1Q 2015 Sales by Region 1Q 2014 Sales by Region Developed Asia 8% Latin America 9% U.S. & Canada 47% Developed Asia 7% Latin America 10% U.S. & Canada 44% Developing Asia 10% Developing Asia 10% Developed EMEA 17% Developing EMEA 9% Developed EMEA 19% Developing EMEA 10% Shifts mainly reflect the impact of currency movements versus the U.S. Dollar, particularly in EMEA 4

6 1Q 2015 Segment Operating Earnings* Variance ($ in millions) $34 $26 $10 $9 $0 ($4) ($77) ($303) $2,248 Segment Operating Earnings* $1,943 Segment Operating Earnings* 1Q14 Perf Mtls Other E&C S&P IB N&H Perf Chem Ag 1Q15 Key Factors Performance Materials results driven by demand for ethylene and performance polymers, partially offset by lower ethylene selling prices Other reflects lower expenses associated with pre-commercial programs and discontinued businesses Electronics & Communications earnings growth fueled by demand in consumer electronics paired with strong productivity gains Safety & Protection delivered broad based volume growth across Tyvek, Kevlar, and Nomex brands Performance Chemicals results impacted by lower TiO 2 volumes and price Agriculture results driven by impact of currency and decreased volumes due to expected reductions in global corn planted area and lower insecticide demand in Latin America from reduced insect pressure, partially offset by pricing gains * See appendix for details of significant items and reconciliation of Non-GAAP Measures 5

7 $ Billions $ Billions Balance Sheet and Cash March 31, 2015 Free Cash Flow Slightly improved over prior year Benefit from reduction in working capital Balance Sheet $6.6B net debt** Increase since year end due to normal seasonal working capital requirements Free Cash Flow* 1Q 14 1Q 15 Cash and Debt Expected Uses of Cash for 2015 Announced 4 percent increase in 2Q dividend Capex spend est. $1.8B FY 2015, including Performance Chemicals Continued growth investments in line with strategy Gross Debt Cash Net Debt** Sep-13 Dec-13 Mar-14 Jun-14 Sep-14 Dec-14 Mar-15 * Free Cash Flow is cash provided by operating activities of ($2,123MM) and ($2,421MM) less purchases of plant, property and equipment of $565MM and $320MM for the quarter ended March 31, 2015 and 2014, respectively. ** See appendix for reconciliation of Non-GAAP measures. 6

8 Other Highlights Redesign initiative on track and contributed $0.10 per share to operating earnings in the quarter; now expect about $0.40 per share in savings for full year 2015 On track to complete Performance Chemicals separation July 1 st, pending final approval from DuPont s Board of Directors Expect to return all or substantially all of anticipated Chemours one-time dividend proceeds of approximately $4 billion to shareholders via share repurchases within months of separation, a portion of which will occur by the end of 2015 Expect Chemours to declare quarterly dividend of about $100 million payable in 3Q15 to shareholders of record after the separation 7

9 $ in Millions Margin $ in Millions Performance Materials*** Performance Polymers (DPP), Packaging & Industrial Polymers (P&IP) 1Q Sales* Vol 8%, Local Price -3%, Currency -5% Port./Other -8% 1,700 1,600 1,500 1,400 1,300 1,200 1,534 1Q14 Volume Local Price 1Q15 (ex-curr & portf.) Curr. Portf./ other 1,411 1Q15 1Q Comments Sales Sales of $1.4B were down 8 percent as strong volume growth was more than offset by the impacts of the Glass Laminating Solutions/Vinyls divestiture, currency, and lower ethylene prices Portfolio and currency reduced sales by 13 percent; excluding these factors, sales would have been up 5 percent Segment volume increased 8 percent on solid North America and Asia demand in auto and increased ethylene sales. Prior year ethylene sales were constrained in advance of a planned maintenance outage Operating Earnings - Up 12 percent as higher volumes and stronger mix more than offset negative impacts from currency and portfolio changes Operating margins increased ~400 bps due to mix enrichment 1Q Operating Earnings** 2Q Outlook % 20% 2Q: Sales - Down about low-teens percent due primarily to portfolio changes, currency, and lower ethylene prices. Excluding currency and portfolio, sales up in the low-single digit range % 10% Operating Earnings - Increase in the mid-single digits on higher volume and continued mix enrichment Q13 1Q14 1Q15 5% 0% The benefit of lower ethane costs will be more than offset by lower margins for ethylene and ethylene-based products. * Segment sales include transfers. **See appendix for reconciliation of non-gaap measures. ***Prior periods reflect reclassification of Viton fluoroelastomers from Performance Materials to Performance Chemicals. 8

10 $ in Millions Margin $ in Millions Electronics & Communications 1Q Sales* Vol -3%, Local Price -5%, Currency -2%, Port./Other 0% Q Comments Sales - Down 10 percent as volume growth in consumer electronics was more than offset by the impact of competitive pressures on sales of Solamet paste and the negative impact of lower metals pricing and currency Operating Earnings - Improved 13 percent on stronger product mix and continued productivity 450 1Q14 Volume Local Price 1Q15 (ex-curr & portf.) Curr. Portf./ other 1Q15 1Q Operating Earnings** 2Q Outlook Q13 1Q14 1Q15 20% 15% 10% 5% 0% Sales - Down about low-teens percent with continued solid demand for consumer electronics more than offset by the negative impact of metals pricing, currency and lower Solamet paste sales Operating Earnings Down low-single digits percent as productivity actions partially offset the impact of lower sales Competitive position in PV paste is stabilizing Currently testing new Solamet paste with customers; expect to launch the first in a series of new products in 2Q, with additional introductions later in the year * Segment sales include transfers. **See appendix for reconciliation of non-gaap measures. 9

11 $ in Millions Margin $ in Millions 1,050 1, Safety & Protection Protection Technologies (DPT), Building Innovations (BI), Sustainable Solutions (DSS) 1Q Sales* Vol 6%, Local Price -1%, Currency-4%, Port./Other -5% 947 1Q14 Volume Local Price 1Q15 (ex-curr & portf.) Curr. Portf./ other 909 1Q15 1Q Comments Sales Down 4 percent as 6 percent volume growth was more than offset by currency and portfolio impact Increased demand in global industrial markets and continued strong public sector demand in Europe Operating Earnings Up 5 percent on higher volumes and continued productivity Higher costs associated with the Chambers Works outage were largely offset by a benefit in connection with the advancement of an ongoing claim Q Operating Earnings** 1Q13 1Q14 1Q15 25% 20% 15% 10% 5% 0% 2Q Outlook 2Q: Sales Volume growth is more than offset by currency and portfolio, resulting in sales down mid-single digits on a percent basis Operating Earnings - Increase in the mid-single digits due to volume growth and continued productivity * Segment sales include transfers. Segment sales include transfers. **See appendix for reconciliation of non-gaap measures. **See appendix for reconciliation of non-gaap measures. 10

12 $ in Millions Margin $ in Millions Industrial Biosciences 1Q Sales* Vol 1%, Local Price 0%, Currency 6%, Port./Other 0% Q14 Volume Local Price 1Q15 (ex-curr & portf.) Curr. Portf./ other 285 1Q15 1Q Comments Sales Sales of $285 million were 5 percent lower as 5 percent higher bioactives volumes were more than offset by the impact of currency Volume growth in enzymes driven by food market demand, partially offset by lower biomaterial sales in key US markets Operating Earnings Even with strong comp from the prior year Operating margins up 100 basis points versus 1Q 2014, up ~540 basis points from 1Q Q Operating Earnings** 2Q Outlook Q13 1Q14 1Q % 20.0% 15.0% 10.0% 5.0% 0.0% 2Q: Anticipate higher volumes will be offset by the negative impact of currency and softer US biomaterials sales resulting in Sales about flat and Operating Earnings even with the prior year Bioactives volumes expected to benefit from new product offerings and increasing emerging market penetration Lower prices anticipated in biomaterials due to competitive pressures driven by lower raw material prices * Segment sales include transfers. **See appendix for reconciliation of non-gaap measures. 11

13 $ in Millions Margin $ in Millions Nutrition & Health Q Sales* Vol 2%, Local Price 0%, Currency-8%, Port./Other 0% 861 1Q14 Volume Local Price 1Q15 (ex-curr & portf.) Curr. Portf./ other 813 1Q15 1Q Comments Sales 6 percent lower as volume growth was more than offset by an 8 percent negative impact from currency Volume growth in probiotics, cultures, texturants and ingredient systems was partially offset by lower volume in specialty proteins, mostly in North America Operating Earnings Decreased $4 million as volume gains and improved mix were more than offset by the negative impact of currency Q Operating Earnings** 1Q13 1Q14 1Q15 12% 9% 6% 3% 0% 2Q Outlook Sales Expected to be high-single digits percent lower as volume growth is more than offset by strong currency headwinds Specialty protein market to remain very competitive Operating Earnings Expected to be low-teens percent lower primarily due to the negative impact of currency * Segment sales include transfers. **See appendix for reconciliation of non-gaap measures. 12

14 $ in Millions Margin $ in Millions Agriculture Pioneer, Crop Protection 4,500 4,300 4,100 3,900 3,700 3,500 1Q Sales* Vol -5%, Local Price 3%, Currency-8%, Port./Other 0% 4,394 1Q14 Volume Local Price 1Q15 (ex-curr & portf.) Curr. Portf./ other 3,937 1Q15 1Q Comments Results better than expected primarily due to disciplined cost actions Sales 10 percent lower as 3 percent higher local prices were more than offset by 8 percent negative impact from currency and 5 percent lower volumes Local prices were higher from new product mix in Pioneer and pricing actions in parts of Europe and Asia, partially offsetting currency Volumes were lower due to expected reductions in global corn planted area and lower insecticide demand in Latin America Operating Earnings Decreased 21 percent as productivity and disciplined cost actions were more than offset by currency and lower volumes 1,600 1, Q Operating Earnings** 1Q13 1Q14 1Q % 30.0% 20.0% 10.0% 0.0% 2Q and 1H Outlook Increased headwinds from currency and lower expected corn planted area 1H: Sales High-single digits percent lower as local pricing gains will be more than offset by currency and lower corn seed and insecticide volumes; Operating Earnings Low-to-mid-teens percent lower as disciplined cost actions and local pricing gains will be more than offset by currency and lower volume. 2Q: Sales Mid-single-digits percent lower; Operating Earnings Down low-to-mid-single digits percent Confident in long term sustainable demand growth, strategy and Ag pipeline * Segment sales include transfers. **See appendix for reconciliation of non-gaap measures. 13

15 $ in Millions Margin $ in Millions Performance Chemicals*** Titanium Technologies (DTT), Chemical & Fluoroproducts (DC&F) 1Q Sales* Vol -6%, Local Price -3%, Currency -3%, Port./Other -2% 1,600 1,500 1,400 1,300 1,200 1,591 1Q14 Volume Local Price 1Q15 (ex-curr & portf.) Curr. Portf./ other 1,364 1Q15 1Q Comments Sales Down 14 percent due to lower volumes and prices in TiO2 combined with the negative impacts of currency and portfolio changes TiO 2 volumes and prices were down 12 percent and 7 percent, respectively. On a sequential basis, price was down 5 percent. TiO2 market conditions remain challenging. Price pressures in the quarter were driven by low industry utilization and strong regional competition Sales of next generation refrigerant Opteon 1234yf up over 30 percent on continued adoption by automotive OEMs Operating Earnings - Down 37 percent on lower Ti02 prices and volumes, currency and portfolio changes. 1Q Operating Earnings** 2Q Outlook Q13 1Q14 1Q15 25% 20% 15% 10% 5% 0% Sales and Operating Earnings Expected to be flat Currency anticipated to remain a significant year over year headwind Volumes expected to improve sequentially versus 1Q due to increased seasonal demand for refrigerants and TiO2, fluoropolymers and chemicals demand also expect to improve * Segment sales include transfers. **See appendix for reconciliation of non-gaap measures. ***Prior periods reflect reclassification of Viton fluoroelastomers from Performance Materials to Performance Chemicals 14

16 APPENDIX 1: FIRST QUARTER 2015 SEGMENT COMMENTARY This data should be read in conjunction with the Company s first quarter earnings news release dated April 21, 2015, DuPont s 1Q 2015 Earnings Conference Call presentation materials and reconciliations of non-gaap to GAAP measures included in the presentation materials and posted on the DuPont Investor Center website at 4/20/

17 Segment Commentary First Quarter Earnings 2015 Performance Materials In Performance Materials, we delivered strong volume growth in the quarter, which helped to offset the impact from currency and lower ethylene prices. Sales of $1.4 billion were up 5 percent year-over-year, excluding an 8 percent negative impact from portfolio changes, primarily the GLS/Vinyls divestiture, and a 5 percent impact from currency. Segment volumes increased 8 percent on solid North America and Asia demand in auto and increased ethylene sales. Sales of ethylene were constrained in the prior year in advance of a planned maintenance outage at our Orange, Texas ethylene unit. Operating earnings increased 12 percent as higher volumes and a stronger mix overcame the negative impacts from currency and portfolio changes. Operating margins increased approximately 400 basis points primarily due to mix enrichment. Demand for engineering polymers and elastomers was solid in North America and Asia, despite sluggish year over year growth in auto builds and weaker demand in Europe and Latin America. In Packaging and Industrial Polymers, the decline in oil prices year-over-year provided a significant headwind due to lower ethylene prices and margins, offsetting the favorable impact of advantaged ethane and natural gas pricing. For the second quarter, we anticipate sales will be low-teens percent lower due primarily to portfolio changes, currency, and lower ethylene prices. Excluding these items, sales would be up in the low-single-digit range. Operating earnings are expected to be up in the mid-single digits percent on higher volume and continued mix enrichment. In the second quarter, we anticipate the benefit of lower ethane cost will be more than offset by lower margins for ethylene and ethylene-based products. 16

18 Segment Commentary First Quarter Earnings 2015 Electronics & Communications In Electronics & Communications, operating earnings improved 13 percent on a stronger product mix and from productivity actions. Sales were 10 percent lower with continued growth in consumer electronics which were more than offset by the impact of competitive pressures on sales of Solamet paste and the negative impact of lower metals pricing and currency. We are the market and technology leader in photovoltaic materials like our Tedlar films and are driving a robust innovation pipeline aimed at furthering solar cell efficiency and module lifetime, which will support continued growth. We believe our competitive position in PV paste is stabilizing. We expect to launch the first in our series of new Solamet paste products in the second quarter, with additional introductions later in We expect continued solid demand for our materials into consumer electronics. Second quarter sales are forecast to be down low-teens percent due to the negative impact of metals pricing, currency and from lower Solamet paste sales. Second quarter operating earnings are expected to be down low-single digits percent as productivity will partially offset the impact of lower sales versus a strong prior year quarter. 17

19 Segment Commentary First Quarter Earnings 2015 Safety & Protection Safety & Protection delivered solid improvements in volume, operating margins and operating earnings. Sales of $909 million were down 4 percent as 6 percent volume growth was more than offset by the negative impact of currency as well as the Sontara divestiture. Volume growth of 6 percent was broad-based in global industrial markets, including demand for Tyvek protective material, Kevlar high strength materials and Nomex thermal resistant fiber, driven by sales into the mechanical, military, medical packaging and chemical markets. The demand for our products including the latest versions of Tyvek, Kevlar, and Nomex, - resulted in volume growth in every region in the first quarter. First quarter segment operating earnings of $184 million were up 5 percent on volume growth and productivity improvements. Higher costs associated with lower plant utilization at the Chambers Works facility were largely offset by a benefit in connection with the advancement of an ongoing claim. Operating margins improved 170 basis points year over year reflecting improved mix and continued productivity. In the second quarter, sales will be down in the mid-single digit percent range as volume growth will be more than offset by the impact of currency and portfolio changes. Operating earnings growth will be in the mid-single-digit percent range, due to continued demand for our products, ongoing innovation, and continued operational productivity. 18

20 Segment Commentary First Quarter Earnings 2015 Industrial Biosciences In Industrial Biosciences, volume and operating margins improved this quarter, despite the challenging environment. Sales of $285 million were 5 percent lower as 5 percent higher bioactives volumes were more than offset by the impact of currency. Volumes growth in enzymes driven by food market demand, partially offset by lower biomaterial sales in US markets. Operating earnings of $56 million were even with the prior year, overcoming the negative impact of currency. Operating margins continued to improve, with a 100 basis point increase versus the prior year and 540 basis point increase in total versus the first quarter of We expect higher volumes to continue in the second quarter, driven by benefits from new product offerings in bioactives and increasing penetration into emerging markets. However, the negative impacts of currency, softer US biomaterial sales, and lower biomaterials prices will result in sales about flat and operating earnings about even with the prior year on stronger volumes offsetting negative currency impacts. 19

21 Segment Commentary First Quarter Earnings 2015 Nutrition & Health In Nutrition & Health, the business produced volume and operating margin improvement this quarter. Sales were 6 percent lower, as a 2 percent increase due to volume was offset by an 8 percent negative impact from currency. We generated strong volume growth in probiotics, cultures, texturants and ingredient systems, partially offset by lower volumes in the specialty protein market in North America. Volume growth was strong in EMEA despite pressures from the Russia food import ban, offsetting weakness in Latin America. Operating earnings decreased $4 million as volume gains and improved mix were more than offset by the negative impact of currency. In the second quarter, we expect continued volume growth in most product lines and the specialty protein market to remain very competitive. Sales are expected to be high-single digits percent lower due to continued strong currency headwinds. Operating earnings are expected to be low-teens percent lower primarily due to the negative impact of currency. 20

22 Segment Commentary First Quarter Earnings 2015 Agriculture In Agriculture, the business performed well given the overall difficult market conditions in the industry. First quarter results, which are primarily driven by the 2015 planting season in the northern hemisphere and the completion of the Safrinha season in Brazil, were slightly better than expected in January, primarily due to disciplined cost actions is playing out to be one of the most competitive seasons in recent years given the challenging economic environment in the ag sector and with seed suppliers having abundant inventories globally. Lower insect pressure in Brazil and continued elevated distributor inventories in the Americas are presenting headwinds in crop protection markets. First quarter Agriculture segment sales were $3.9 billion, down 10 percent, as 3 percent higher local prices were offset by 8 percent negative impact from currency and 5 percent lower volumes. Seed sales were 11 percent lower and crop protection sales were down 8 percent versus last year. We were able to capture 3 percent higher prices across the segment, driven by an improved mix of Pioneer s newest corn hybrids and soybean varieties and pricing actions in parts of Europe and Asia, partially offsetting the impact of a stronger U.S. dollar. Higher local prices were offset by a negative impact from currency, primarily from a weaker Euro, Canadian dollar, Ukrainian hryvnia, Russian ruble and Brazilian Real. Volume declined 5 percent due to lower corn planted area, lower insecticide volumes in Latin America and earlier timing of seed shipments. The largest headwind to volume we continue to face is a further shift from corn to soybeans. We have seen growers in Brazil reduce corn plantings in the past summer and Safrinha seasons and our North America seed order book confirms the continued shift to soybeans away from corn. In addition, the insect control business has been impacted by the shutdown of the LaPorte manufacturing facility in Texas resulting in a shortfall in the supply of methomyl and oxamyl. 21

23 Segment Commentary First Quarter Earnings 2015 Agriculture (continued) First quarter operating earnings were significantly impacted by currency and declined 21 percent as lower sales were partially offset by productivity improvements and disciplined cost actions taken in response to the current market environment in agriculture. Even in this difficult environment, we continue to perform and execute on the variables that are within our control including bringing new products to market that meet customer demand. We are seeing a positive impact from mix on price as growers demand our newest corn and soybean genetics. And we continue to build our robust pipeline, with growth prospects in the near term from new corn and soybean genetics and technologies like event DP4114 and Leptra for insect control. For the first half of 2015, which reflects the majority of the northern hemisphere season, we now expect Agriculture segment sales to be high-single digits percent lower with operating earnings low-to-mid-teens percent below 2014 as local pricing gains and cost reductions will be offset by currency and lower corn seed and insecticide volumes. Looking specifically at the second quarter, sales are expected to be mid-single digits percent lower primarily due to currency with operating earnings down low-tomid single digits percent. 22

24 Segment Commentary First Quarter Earnings 2015 Performance Chemicals In Performance Chemicals, sales of $1.4 Billion were down 14 percent due to lower volumes and prices combined with the negative impacts of currency and portfolio changes. Challenging industry fundmentals continued in the first quarter as Ti02 volumes were down 12 percent and price down 7 percent. On a sequential basis, price was down 5 percent. Price pressures in the quarter were driven in part by lower than optimal industry utilization rates and strong regional competition. In Chemicals and Fluoroproducts, volumes were even with the prior year as higher demand for fluoropolymers was offset by lower sales of fluorochemicals, principally due to the reduction in R22 production allocations. Demand for our next generation refrigerant, Opteon 1234yf was up over 30 percent on continued adoption by automotive OEMS. Operating earnings were down 37 percent driven primarily by lower Ti02 prices and volumes, the negative impacts of currency, and the impact of portfolio changes. For the 2nd quarter, we anticipate sales and operating earnings will be flat versus the prior year, with currency anticipated to remain a significant headwind year over year. Segment volumes are expected to improve sequentially versus 1Q due to increased seasonal demand for refrigerants and Ti02. Demand for fluoropolymers and chemicals is also expected to improve. 23

25 E. I. DU PONT DE NEMOURS AND COMPANY AND CONSOLIDATED SUBSIDIARIES QUARTERLY SUPPLEMENTAL FINANCIAL DATA AND NON-GAAP RECONCILIATIONS (UNAUDITED) MARCH 31, 2015 INDEX PAGE SELECTED OPERATING RESULTS 24 SELECTED INCOME STATEMENT DATA 25 SEGMENT SALES 26 SEGMENT PRETAX OPERATING INCOME 27 SEGMENT OPERATING EARNINGS 28 SIGNIFICANT ITEMS BY SEGMENT - PRETAX OPERATING INCOME 29 RECONCILIATION OF NON-GAAP MEASURES RECONCILIATION OF ADJUSTED OPERATING EARNINGS PER SHARE 33 RECONCILIATION OF BASE INCOME TAX RATE TO EFFECTIVE INCOME TAX RATE 34 Note: Management believes that an analysis of operating earnings (as defined on page 24), a "non-gaap" measure, is meaningful to investors because it provides insight with respect to ongoing operating results of the company. Such measurements are not recognized in accordance with generally accepted accounting principles (GAAP) and should not be viewed as an alternative to GAAP measures of performance.

January 26, 2016 Media Contact: Dan Turner WILMINGTON, Del. 302-996-8372 daniel.a.turner@dupont.com. Investor Contact: 302-774-4994

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