Corteva, Inc. Completes Spin-Off of Seed Business into Vylor

What Happened
Corteva announced it completed the separation of its Seed Business into a new, independently traded company named Vylor Inc. via a pro rata dividend in-kind of all issued and outstanding Vylor shares to Corteva common shareholders of record as of the close of business on September 24, 2026. For financial reporting purposes, Vylor has been treated as the accounting spinnor and thus is the accounting successor to Corteva; consequently, Corteva’s historical consolidated financial statements now serve as Vylor’s historical financial statements for periods before the spin-off. Corteva’s remaining Crop Protection business (“New Corteva”) has separately prepared Combined Financial Statements (including New EIDP) derived from Corteva’s historical records and filed those statements and related pro forma and non‑GAAP information in the 8-K.

Key Details

• Spin-off structure: pro rata dividend in-kind; record date Sept. 24, 2026.
• Accounting treatment: Vylor designated the “accounting spinnor” and accounting successor; historical consolidated Corteva financials became Vylor’s pre‑spin history.
• New Corteva reporting: Combined Financial Statements for New Corteva (and New EIDP) filed — audited as of Dec 31, 2025 & 2024 (Exhibit 99.1) and interim as of June 30, 2026 (Exhibit 99.2).
• Additional filings: Non‑GAAP measures for New Corteva (Exhibit 99.3) and unaudited pro forma Combined Financial Statements reflecting the spin-off and related transactions (Exhibit 99.4). PwC consents and XBRL cover page also included.

Why It Matters
The spin-off creates two public companies (Vylor — Seeds; New Corteva — Crop Protection) and changes which entity’s historical results investors should use when assessing past performance. Because Vylor is the accounting successor, prior consolidated financial history now belongs to Vylor; New Corteva’s results are presented via newly prepared combined and pro forma statements and may not be directly comparable to past segment disclosures. Investors should review the filed combined and pro forma financial statements and the filing’s risk disclosures (including spin-off, regulatory, litigation, and operational risks) to understand how the separation affects historical comparability, capital structure, and future reporting.