Dupont Half-Year Report 2023

Second Quarter 2023 Highlights

• Net Sales of $3.1 billion decreased 7%; organic sales decreased 4% versus year-ago period
• GAAP Income from continuing operations of $269 million; operating EBITDA of $738 million
• GAAP EPS from continuing operations of $0.55; adjusted EPS of $0.85
• Cash provided by operating activities from continuing operations of $400 million; adjusted free
  cash flow of $277 million

Net sales

Net sales decreased 7% as organic sales declined 4%, along with currency headwinds of 1% and unfavorable portfolio impact of 2%.

Organic sales decline of 4% consisted of a 6% decrease in volume partially offset by a 2% increase in price.

• Lower volume resulted from decreased consumer electronics spending and channel inventory destocking, along with softness in construction end-markets, partially offset by continued strength in areas such as water, auto and in industrial end-markets such as aerospace and healthcare.
• Price increase reflects the carryover impact of actions taken in 2022 to offset broad-based
  cost inflation.

1% organic sales growth in Water & Protection; 12% organic sales declines in Electronics & Industrial; 9% organic sales growth in the retained businesses reported in Corporate.

4% organic sales growth in EMEA, 3% organic sales decline in U.S. & Canada and 8% organic sales decline in Asia Pacific.