Jim Borel

Agriculture & Nutrition Executive Vice President

 Agriculture & Nutrition Mission

To grow aggressively through

innovative products and services
that help the world increase the
quantity,
tit quality,
lit safety
f t andd
sustainability of our food supply

2
 Agriculture & Nutrition
Business Overview

2009 Product Sales* of $8

$8.3B
3B

F d IIngredients
Food di 115%
%

Crop Protection
C P t ti
Products 29%

Seed 56%

3 * Segment sales include transfers.

 Agriculture & Nutrition
Key Messages

Innovation driven by megatrends

Seed – Stream of innovation increasing and protecting yields globally
Crop Protection – novel pipeline delivering quality, availability, safety and sustainability
Nutrition & Health - new products addressing need for health and wellness

Resourced to grow
Biotechnology and breeding expansion
Right
g Product Right
g Acre capabilities
p and gglobal infrastructure
Pipeline commercializations

Margin expansion
Mix enrichment in Crop Protection and Nutrition & Health
Disciplined productivity in low margin products
Innovating end-to-end capabilities to further distance ourselves from competitors
P d ti productivity
Production d ti it

4
 Agriculture & Nutrition
Key Growth Opportunities Sales and Margin Outlook
North America corn seed
North America soybean seed and other crops $13.3-14.6
International seed
Crop protection products pipeline
Food & nutrition products $9 0
$9.0
$8.0 $
$8.3

PTOI Margin Expansion $6.8

Margin target 19-21%

19 21% 19-21%
Gross margin expansion 14% 15% 15%
13%
G&A leverage
Continued Investments:
Selling expense constant % of sales
Increase rate of R&D investment 2007 2008 2009 2010E 2015E

2015 margins 19-21%; sales growth 8-10% CAGR (2010-2015E)

* Segment sales include transfers.
5 * * Excludes significant items. Refer to company website for detailed reconciliations of non-GAAP measures.
 Agriculture & Nutrition
2010 Delivered Growth. 2011 Plan for Growth.

Sales Growth 2011 Sales Drivers

Seed Crop Protection Nutrition & Health
NA seedd volume
l & price
i gains
i
$B
10
International seed volume & price gains
9
8
Crop Protection new product gains
7
6
Nutrition & Health specialty volume gains
5
4 Volatility in commodities and visibility to
3 southern hemisphere summer acreage

2 Crop Protection 2010 portfolio change

1
0 Eastern
E t European
E seedd market
k t lag
l
in reaction to global markets
2007 2008 2009 2010E
6
 Agriculture & Nutrition
Key Growth Opportunities Sales and Margin Outlook
North America corn seed
North America soybean seed and other crops $13.3-14.6
International seed
Crop protection products pipeline
Food & nutrition products $9 0
$9.0
$8.0 $
$8.3

PTOI Margin Expansion $6.8

Margin target 19-21%

19 21% 19-21%
Gross margin expansion 14% 15% 15%
13%
G&A leverage
Continued Investments:
Selling expense constant % of sales
Increase rate of R&D investment 2007 2008 2009 2010E 2015E

2015 margins 19-21%; sales growth 8-10% CAGR (2010-2015E)

* Segment sales include transfers.
28 * * Excludes significant items. Refer to company website for detailed reconciliations of non-GAAP measures.
 Agriculture & Nutrition
Key Growth Opportunities Sales and Margin Outlook
North America corn seed
North America soybean seed and other crops $13.3-14.6
International seed
Crop protection products pipeline
Food & nutrition products $9 0
$9.0
$8.0 $
$8.3

PTOI Margin Expansion $6.8

Margin target 19-21%

19 21% 19-21%
Gross margin expansion 14% 15% 15%
13%
G&A leverage
Continued Investments:
Selling expense constant % of sales
Increase rate of R&D investment 2007 2008 2009 2010E 2015E

2015 margins 19-21%; sales growth 8-10% CAGR (2010-2015E)

* Segment sales include transfers.
28 * * Excludes significant items. Refer to company website for detailed reconciliations of non-GAAP measures.