Corteva, DuPont, and Chemours Reach $455M North Carolina PFAS Settlement

Executive Summary

On September 9, 2026, Corteva, Inc. (NYSE: CTVA), along with its subsidiary EIDP, Inc., The Chemours Company, and DuPont de Nemours, Inc., entered into a comprehensive settlement agreement with the State of North Carolina, the North Carolina Attorney General, and several municipal entities to resolve statewide PFAS claims and legacy claims related to the Fayetteville Works facility.

Key Terms of the Settlement

1. Financial Considerations:

   • Total Consideration: The settling defendants will collectively pay $455 million over a 15-year payment schedule.
   • Corteva's Direct Share: Approximately $66 million.
   • Initial Payments: Year 1 includes $25 million to the State and $77.5 million to settling state subdivisions.

2. Guarantees and Financial Assurance:

   • Corteva and DuPont will guarantee Chemours' portion of the settlement payments on a 29% / 71% allocation basis.
   • Corteva and DuPont will establish a financial assurance reserve fund (via line of credit, letter of credit, or surety bond) capped at $135 million accessible to North Carolina if Chemours fails to comply with its 2019 NC Consent Order.

3. MOU Application & Escrow Relief:

   • For the January 2021 Memorandum of Understanding (MOU) between Chemours, DuPont, and Corteva, $210 million (representing the net present value discounted at 8% over 25 years) will be applied toward the $4.0 billion aggregate qualified spend cap.
   • Cumulative payments from this North Carolina settlement and the prior 2025 New Jersey settlement exceed future escrow contribution requirements, fully satisfying all future funding obligations to the MOU Escrow Account.

Impact Assessment

• Legal De-risking: The agreement resolves critical environmental litigation exposure in North Carolina concerning historic discharges and drinking water contamination.
• Cash Flow Impact: The extended 15-year payout schedule minimizes immediate liquidity strain on Corteva.