baml conference 2015 final
TRANSCRIPT
Jim Borel, Executive Vice President, DuPont
February 26, 2014
BANK OF AMERICA MERRILL LYNCH
GLOBAL AGRICULTURE CONFERENCE 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 and allows investors to better evaluate the financial 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 on non-
GAAP measures to GAAP are available on the Investor Center of www.dupont.com under Key Financials & Filings. 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 non-strategic 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 www.dupont.com.
Collaboration Speeds Innovation
2013 Highlights
Decisions Driven by Three Strategic Priorities…
3
AGRICULTURE & NUTRITION
BIO-BASED INDUSTRIALS
ADVANCED MATERIALS
Extend leadership across the
high-value, science-driven
segments of the Ag and Food
value chain.
Develop world-leading
industrial biotech capabilities
to create transformational new
bio-based businesses.
Strengthen and grow leading
position in differentiated
high-value materials through
science-based solutions.
Higher Growth, Higher Value Company
Through Three World-Leading Positions
2030 2020
3.25
2009
1.85
Other
North America
Asia-Pacific
Europe
4.88
Emerging Middle Class (Billions)
3 B
1+
B
650
700
750
800
850
900
950
1000
2004
2006
2008
2010
2012
2014
Consumption Production
Million MT
Global Demand Growth for Grain
Global Corn
4
Long-term, Sustainable Demand Remains Intact
Data Source: United Nations, OECD and USDA.
DuPont Is Uniquely Positioned Leading Capabilities Across Four Innovation Platforms
5
INNOVATION PLATFORMS
Services Trusted Partner
Biologicals Emerging Discoveries & Pipeline
Chemistry Leading Products & Pipeline
Seed Germplasm, Traits, Locally Advanced
Integrated Solutions to Challenges in Agriculture
Brazil
Central and
Eastern Europe
Western Canada
India China
Germplasm Improvement
Optimum® AcreMax® Optimum® AQUAmax®
EncircaSM Services T Series soybeans Plenish® soybeans^
Rynaxypyr®
Cyazypyr®
Fungicides
Seed Treatment Solutions
Extending our Global Reach
Innovative Products and Services
Next Gen Soy Hybrid Rice
Hybrid Wheat
Africa
* Public company files. Agriculture peers included BASF, Bayer CropScience, Monsanto, Syngenta and Dow AgroSciences.
Optimum® Leptra® DP4114
Optimum® GLY canola Ag Biologicals
6
Strong Track Record, Strong Foundation for Growth
Industry Leading Growth in Agriculture Led all major competitors with 10% compound annual sales growth from 2008 to 2014*
Extensive
Germplasm
Library
Pro
du
cti
vit
y
Superior Native
Traits
Advanced
Enabling
Technologies &
Methods
Right Product,
Right Acre
First Winter Nursery
1905 1955 1965 1975 1985 1995 2005 2015 2025
Marker Assisted Selection
IMPACT™ Trials
Copper Cross hybrid
Pioneer® brand hybrid 307
Pioneer® brand hybrid 3780
Pioneer® brand hybrids:
3162 3394
2-Plot Combines
Analytics
Stalk Rot
Doubled Haploids
Pioneer® brand hybrids: P1151 P2088
Leveraging Germplasm & Traits Globally Common germplasm flow from DuPont Pioneer Research Centers
Ultra Early Corn
Optimum® AQUAmax® hybrids
Optimum® AcreMax® products
Boreas Wind Machine
Limited Irrigation Trials
Genomic Prediction
Goss’s Wilt
Managed Environments
One Corn
Drought Tolerance
Pioneer® brand hybrid 3377
Pioneer® brand hybrids:
312A 321
Southern Rust
Gray Leaf Spot
Pioneer® brand hybrids: P1197 P0157
DuPont Pioneer Corn Breeding Industry-leading germplasm, advanced technologies, local solutions
Trait Integration
7
ADVANCING BROAD-SPECTRUM
INSECT PROTECTION
GERMPLASM STRENGTH
• Traits combined with elite
germplasm, native traits, and
seed treatment
• Broad range of genetic
backgrounds for a strong lineup of
locally- adapted products
ENHANCED TRAIT DURABILITY
• Above- and below-ground
protection and integrated refuge
• Multiple modes of action
DRIVING YIELDS THROUGH
ENABLING TECHNOLOGIES
ADVANCEMENTS LEADING TO
HIGHER YIELDS & INCREASED
SPEED TO MARKET
● Precision phenotyping
● Predictive analytics
● Increased scope of screening
BUILDING MOMENTUM IN
RESEARCH ADVANCEMENTS
• Agronomic traits, building on
science and success of Optimum®
AQUAmax® hybrids
• Insect protection traits, delivering
new modes of action for product
durability
NEAR TO MID-TERM
LONG-TERM
R&D Phases D=Discovery
1=Proof of Concept
2=Early Development
3=Advanced Development
4=Pre-Launch
Launch=Available for commercial sale or use
Products, concepts, or benefits described herein will not be offered for sale or distribution until completion of field testing and applicable regulatory reviews. Each Phase represents only
the lead event for each program. Discovery and market evaluation is an ongoing process for all programs in the pipeline.
Estimated Peak Sales Range provided for projects Phase 3 or later in pipeline: L= $0-100MM, M= $100-500MM, H= $500MM+ | Indicates advancement or addition (2/14-2/15).
Market Opportunity Market Opportunity reflects total acres in Primary Markets in millions
2015 DuPont Pioneer Corn R&D Pipeline Delivering insect protection & agronomic traits
8
Est.
Peak
Sales
D 1 2 3 4 L NA EU LA AP AF <50 50-100 >100 H / M / L
Optimum® Leptra® hybrids ● ● H
Lepidopteran/Coleopteran Protection DP 4114 ● H
New MOA Lepidopteran Protection III ● ● ● ●
New MOA Coleopteran Protection III ●
Drought Tolerance II ●
Nitrogen Use Efficiency ●
Continual Germplasm & Native Trait Improvements ● ● ● ● ● H
CORNR&D PHASE MARKETS
(●) PRIMARY
MARKET
OPPORTUNITY (MM ACRES)
HIGHLIGHTED PRODUCT CONCEPTS
BIOTECH SOLUTIONS
DIFFERENTIAL BREEDING SOLUTIONS
Optimum® Leptra® Insect Protection Multiple modes of action against above-ground lepidopteran pests
BENEFITS
• Maximize overall farm yield by protecting yield potential of our superior genetics
• Provides multiple modes of action for above-ground lepidopteran pests
• Herculex® I trait
• YieldGard® Corn Borer trait
• Agrisure Viptera® trait
• Offer industry leading traits that help protect against corn earworm, fall armyworm southwestern corn borer, and sugar cane borer
• Helps enhance trait durability
Maximized Farm Yields | Technology Preservation GROWER BENEFIT
R&D Phase - Launch
D 1 2 3 4 L
EAR
PROTECTION
VEGETATIVE
PROTECTION
Control
Hybrid
Optimum® Leptra ®
Hybrid
9
GROWER BENEFIT
DP 4114 Lepidopteran/Coleopteran Protection High yield potential with proven above- and below- ground insect protection
BENEFITS • Stacked with other insect
traits for dual-mode above- and below-ground protection
• Easier to breed with and compatible with a broader range of germplasm
• Expected to offer increased yield over current traits
• Will enable more triple-stack options to increase North America mix to ~50%
• Creates more value for the farmer and a price lift for Pioneer
• Will be tested in IMPACT™ trials in 2015
Simplified Refuge | Enhanced Yield Performance
R&D Phase – 4 Pre Launch
D 1 2 3 4 L
DP 4114 Research Plot Strong Efficacy & Agronomics | Above- & Below- Ground Insect Protection
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DELIVERING MARKET-DRIVEN
TECHNOLOGY AND GENETICS
GERMPLASM STRENGTH
• Advanced agronomic and
defensive traits paired with an
expanded suite of elite genetics
building on Pioneer® brand T
Series soybeans
INCREASED END-USE VALUE &
HERBICIDE TOLERANCE TRAITS
• Roundup Ready 2 Xtend™ trait
• LibertyLink® trait
• BOLT™ technology
• Plenish® High Oleic Soybeans
DRIVING YIELDS THROUGH
ENABLING TECHNOLOGIES
ADVANCEMENTS LEADING TO
INCREASED HARVESTABLE
YIELDS THROUGH:
● Precision phenotyping
● Predictive analytics
BUILDING MOMENTUM IN
RESEARCH ADVANCEMENTS
● Enhanced end-use value
● Target key tropical pests
● Disease resistance
NEAR TO MID-TERM
LONG-TERM
R&D Phases D=Discovery
1=Proof of Concept
2=Early Development
3=Advanced Development
4=Pre-Launch
Launch=Available for commercial sale or use
Products, concepts, or benefits described herein will not be offered for sale or distribution until completion of field testing and applicable regulatory reviews. Each Phase represents
only the lead event for each program. Discovery and market evaluation is an ongoing process for all programs in the pipeline.
Estimated Peak Sales Range provided for projects Phase 3 or later in pipeline: L= $0-100MM, M= $100-500MM, H= $500MM + | Indicates advancement or addition (2/14-2/15).
Market Opportunity Market Opportunity reflects total acres in Primary Markets in millions
2015 DuPont Pioneer Soybean R&D Pipeline Delivering increased end-use value & herbicide tolerance traits
11
Est.
Peak
Sales
D 1 2 3 4 L NA EU LA AP AF <50 50-100 >100 H / M / L
Plenish® High Oleic Soybeans^ ● M
Multiple Mode Herbicide Tolerance ● ● H
Increased Soybean Oil & Improved Meal Value ● ●
Lepidopteran Protection ●
Hemipteran Protection ●
Asian Soybean Rust Resistance ●
Continual Germplasm & Native Trait Improvements ● ● H
SOYBEANMARKETS
(●) PRIMARYR&D PHASE
MARKET
OPPORTUNITY (MM ACRES)
DIFFERENTIAL BREEDING SOLUTIONS
BIOTECH SOLUTIONS
HIGHLIGHTED PRODUCT CONCEPTS
HERBICIDE TOLERANCE
GERMPLASM STRENGTH
• Herbicide tolerant options in
canola, backed by elite
germplasm across crops
• Canola and sunflower
products offered in
combination with Pioneer
Protector® native traits that
provide defense against
damaging insects and
diseases
• Hybrid rice product offerings
with protection against pests
and disease
BUILDING MOMENTUM IN
RESEARCH ADVANCEMENTS
• Key insects and pathogens
• Expansion of hybrid systems
NEAR TO MID-TERM
LONG-TERM R&D Phases D=Discovery
1=Proof of Concept
2=Early Development
3=Advanced Development
4=Pre-Launch
Launch=Available for commercial sale or use
Products, concepts, or benefits described herein will not be offered for sale or distribution until completion of field testing and applicable regulatory reviews. Each Phase represents only the
lead event for each program. Discovery and market evaluation is an ongoing process for all programs in the pipeline.
Estimated Peak Sales Range provided for projects Phase 3 or later in pipeline: L= $0-100MM, M= $100-500MM, H= $500MM + | Indicates advancement or addition (2/14-2/15).
Market Opportunity Market Opportunity reflects total acres in Primary Markets in millions
12
2015 DuPont Pioneer Additional Crops R&D Pipeline Delivering herbicide tolerant canola traits & hybrid wheat and rice
Est.
Peak
Sales
D 1 2 3 4 L NA EU LA AP AF <50 50-100 >100 H / M / L
Optimum® GLY Herbicide Tolerance ● ● M
Herbicide Tolerant Canola with the LibertyLink® trait ● L
Herbicide Tolerant Canola with the Optimum® GLY
LibertyLink® trait stack
● L
Hybrid Rice Technology II ●
Dual Mode of Action Lepidopteran Protection ●
Hybrid Wheat Technology ●
Continual Germplasm & Native Trait Improvements ● ● ● H
ALL CROPS DIFFERENTIAL BREEDING SOLUTIONS
WHEAT
RICE
ADDITIONAL
CROPS
MARKETS(●) PRIMARY
R & D PHASEMARKET
OPPORTUNITY (MM ACRES)
CANOLA
new
New
New
Advanced
2015 DuPont Crop Protection Pipeline Sustainable growth and innovation through a highly productive pipeline
R&D Phases D=Discovery
1=Proof of Concept
2=Early Development
3=Advanced Development
4=Pre-Launch
Launch=Available for commercial sale or use
Products, concepts, or benefits described herein will not be offered for sale or
distribution until completion of field testing and applicable regulatory reviews. Each
Phase represents only the lead event for each program. Discovery and market
evaluation is an ongoing process for all programs in the pipeline.
Estimated Peak Sales Range provided for projects Phase 3 or later in pipeline: L= $0-100MM, M= $100-500MM, H=
$500MM+ | Indicates advancement or addition (2/14-2/15).
MOST PRODUCTIVE AND INNOVATIVE
PIPELINE IN THE INDUSTRY
FOCUSED RESEARCH
• Target to deliver one commercial
candidate each year to the pipeline
• Novel modes of action and new classes
of chemistry
• Successful renewal of existing
technologies
NEAR TERM LAUNCHES
BUILDING ON SUCCESS OF
RYNAXYPYR® AND CYAZYPYR®
• New seed treatment solutions
• DuPont™ Zorvec™ disease control later
this year
• DuPont™ Pyraxalt™ insect control in rice
expected in the next few years
Est.
Peak
Sales
D 1 2 3 4 L F&V Rice Cereals CornOil-
seedsH / M / L
WEED CONTROL
Broadleaf weed control (SU) ● L
New class of grass and broad leaf weed
control● ●
New mode of action grass and broad leaf
weed control● ●
New mode of action broad leaf weed control ●
INSECT and NEMATODE CONTROL
Cyazypyr® cross-spectrum insect control ● ● H
Lumigen™ Seed Sense ● ● ● H
Pyraxalt™, new class of insect control for
piercing pests● M
Broad spectrum nematicide, new mode of
action● M
Dicloromezotiaz, new class of insect control
for chewing pests● ●
New class of insect control for piercing pests ●
DISEASE CONTROL
Penthiopyrad broad-spectrum disease
control● ● M
Zorvec™ oomycete control, new mode of
action● ● M
Lumigen™ Seed Sense ● ● L
Broad-spectrum disease control, new mode
of action● ●
PROGRAMTarget Market
(●)R&D PHASE
new
new
new
13
Innovation Insect Control Solutions in Crop Protection
DuPont™ Rynaxypyr®
Insect Control
New DuPont™ Pyraxalt™
Insect Control
DuPont™ Cyazypyr®
Insect Control
• Rynaxypyr® sold in over 90
countries in 2014.
• Additional products in insect
control portfolio building on the
success of Rynaxypyr®.
• Setting new standards in plant
protection performance that
translates into improved yield
and quality.
• Novel activity for control of wide
spectrum of hopper insects in
Rice in Asia.
• Favorable environmental profile.
• Expected 2016 Registrations in
China, Korea and Philippines.
• Planned expansion to Malaysia,
Indonesia, India, Japan,
Vietnam, Taiwan and Thailand.
• Targeting high value fruit and
vegetable crops.
• Outstanding performance
exceeding farmers’ expectations.
• Reduces number of applications
while enhancing produce quality
and marketable yield.
• Launched in key countries
including Brazil, China, India,
Japan, US and Canada.
Exceeded $1.2 billion in Sales
in 2014
New class of Insect Control
in Rice
Creating exceptional Grower
Value
Growing and expanding Insect Control solutions
*DuPontTM PyraxaltTM is not registered for use or sale in the United States and other countries. No offer for sale, sale or use of these products are permitted prior to the issuance of the country
level registration. 14
Innovation Disease Management Solutions in Crop Protection
DuPont™ Picoxystrobin
Disease Control
DuPont™ Zorvec™
Disease Control
DuPont™ Penthiopyrad
Disease Control
• Enhanced in-season protection
and improved harvestable yield
in soybeans, corn, canola,
cereals, dry-beans, rice.
• Sold in over 50 countries
including Brazil, Argentina, US,
Canada, Ukraine, Russia
Federation, France, Germany,
Poland, China, India and South
Africa.
• Developing seed treatment
application under DuPontTM
LumigenTM seed sense.
• New mode of action, low rate,
solution of choice providing
growers unmatched consistency
and control resulting in better
crops for better business.
• Planned 2015 launches in
Argentina, Mexico and
Australia.
• Foliar treatment in fruits and
vegetables.
• Part of DuPontTM LumigenTM
seed sense in corn, soybeans
and sunflower.
• Broad-spectrum preventive and
curative protection.
• Expanding in fruits and
vegetables (F&V) in North
America, launching in cereals
and F&V in Europe.
• Planned 2015 launches in Italy
and Poland in apples.
• Registered in over 20 countries.
• Developing seed treatment
application under DuPontTM
LumigenTM seed sense.
Exceeded $400 million in 2014 Novel activity in disease
management
Launched in UK, US, Canada,
Argentina, Mexico
Creating Unique Portfolio of Disease Management Solutions
*DuPontTM ZorvecTM is not registered for use or sale in the United States. No offer for sale, sale or use of these products are permitted prior to the issuance of the country level registration. 15
Innovation Seed Treatment Solutions
DuPont™ Dermacor®
Insecticide Seed Treatment DuPont™ Lumivia™
Insecticide Seed Treatment DuPont™ Lumiderm™
Insecticide Seed Treatment
• Offers enhanced protection from
cutworms and flea beetles
• Residual control of insects up to 35
days after seedling
• Superb early season vigor
2014 Initial Launch in Brazil for
Soybeans on over 3 million acres
2014 Initial Launch in Canada for
Canola on over 650,000 acres
• Improved yield advantage
• Offering enhanced protection from
wireworm, black cutworm, white grubs
and fall armyworm
• Available in the US exclusively on the
newest Pioneer® brand hybrids as
part of the Pioneer Premium Seed
Treatment program
• Supports emergency registration in
Brazil for control of Helicoverpa in
soybeans
• Excellent above and below ground
insect control to protect plant vigor
• Pursuing expansion to other crops
and markets
2015 Launch in the United States
for Corn
16
Extending DuPont Science Into Seed Treatment
Innovation EncircaSM Services
*According to an independent Forecastwatch.com report. Schneider Electric, DTN/The Progressive Farmer's parent company, has delivered the industry's most accurate
temperature and precipitation forecasts for the last seven consecutive years. This same forecast technology is used in DTN’s solutions including the DTN Ag Weather Network,
which contains over 2,000 individual weather stations. 17
Strategic Collaborations Enhance Services
The largest and most accurate Ag Weather Network*
• DTN Ag Weather Network
Most granular view of soils and topography
• USDA-ARS
• University of Missouri
Improved crop and nitrogen models
• Data generated by 8 Midwest land-grant universities
Seamless transfer of data for real-time insights
• John Deere
• AGCO
• Raven Industries
Strong grower adoption
• EncircaSM View – 13,000+ Users
• EncircaSM Yield Nitrogen Management
Service – Approaching 500,000 acres invoiced
• EncircaSM Yield Stand – to help growers maximize
plant stands and yield potential
PROFITABILITY RISK MANAGEMENT
SUSTAINABILITY CONVENIENCE
Addressing the most critical
challenges growers face
Helping Growers Unlock The Full Potential Of Their Land
Innovation Ag Biologicals
18
Fermentation &
Enzyme Leader
Deep Microbial
Knowledge & Libraries
Unlocking Broad
Capabilities
Leading Genetics &
Customer Insights
Global Collaboratory
DuPont Capabilities are Enhanced
through Collaborations and
Partnerships
DuPont Advantage
• Fully leverages DuPont
integrated capabilities
• Enabled through external
collaborations
• Unparalleled market
access in seed and foliar
markets
• R&D focused on plant
health and plant
protection globally in row
crops and specialty crops
Game Changing
Discoveries & Market
Knowledge
Leading Capabilities to Create Biological Solutions in Agriculture
Innovation Improving Nutrition and Health and Protecting Food
• YO-MIX® starter cultures for long
life yogurt for use in countries
where cold chain infrastructure
is still developing
• CHOOZIT® SWIFT concentrated
starter cultures for consistent
performance of pizza cheese
manufacture
• HOWARU® Protect
probiotics help children,
adults and sports
enthusiasts maintain
natural immune defenses.
• SUPRO® soy protein helps
improve muscle growth
• BioViaTM CDV natural
antimicrobial blend to control
pathogens like Listeria in deli
and ready-to-eat meats
• RECODAN® tailored blends
provide solutions for
affordable milk based
beverages
Strong Momentum in Nutrition & Health
19
Copyright © 2015 DuPont or its affiliates. All rights reserved. The DuPont Oval Logo, DuPont™, The miracles of science™ and, unless otherwise noted, all products denoted with ™ or ® are registered trademarks or trademarks of and all services marked with SM are service marks of E. I. du Pont de Nemours and Company or its affiliates.
Images reproduced by E. I. du Pont de Nemours and Company under license from the National Geographic Society.
20
Biotech Trait R&D
Discovery
Select product target Define targets based on current and anticipated future customer needs, and advancing scientific capabilities.
Identify leads Screen potential genes to find a gene or combination of genes that demonstrate efficacy against the target.
Phase 1
Proof of concept
Crop transformation Insert gene leads into target crop.
Demonstrate proof of concept Test genes to confirm efficacy against the target.
Gene and construct optimization Evaluate genes and constructs for trait efficacy and agronomic performance in the target market environment. Optimize for trait and stack performance.
Phase 2
Early development
Production transformation Insert constructs into target crop to generate multiple events.
Event characterization Select best events across germplasm and environments.
Event Development Expand field testing of candidate commercial lead events across stacked trait and germplasm combinations.
Initiate regulatory testing Start regulatory studies, including method development & validation.
Early trait introgression Breed events into a broader set of elite germplasm.
Phase 3
Advanced development
Advanced field testing Further characterize lead commercial events across germplasm and environments and select event(s) for regulatory submission.
Regulatory testing Complete regulatory studies for primary markets.
Regulatory dossier submission Submit extensive data package and analysis to authorities.
Phase 4
Pre-launch
Regulatory testing Complete regulatory studies for additional submissions (e.g. stacks).
Trait introgression and seed ramp up Breed trait into elite germplasm across maturities and intensify ramp-up of seed quantities.
Pre-marketing Prepare customer education plans. Perform market testing. Prepare commercial seed volumes.
IMPACT™ trials Field test new products in development near the customer. Focus interactions to deliver Right Product on Right Acre following commercialization.
Launch
Regulatory approvals Receive all regulatory approvals for launch cultivation.
Commercial sales begin Pioneer works customer-by-customer and market-by-market to deliver the Right Product on the Right Acre tailored to individual grower needs.
Product stewardship Continue ongoing stewardship practices which began in research. These include education and communication to ensure compliance with regulations, Pioneer policies and crop management strategies.
DuPont Pioneer R&D is Committed to Delivering Superior Germplasm, Traits and Trait Combinations in the Most Productive Products for Our Customers. Our advanced Biotech Pipeline Programs Are an Integral Part of Our Approach as We Deliver the Right Product on the Right Acre
21
22
Agrisure® and Agrisure Viptera® are registered trademarks of, and used under license from, a Syngenta Group Company. Agrisure® technology incorporated into these seeds is commercialized
under a license from Syngenta Crop Protection AG. Herculex® Insect Protection technology by Dow AgroSciences and Pioneer Hi-Bred. Herculex® and the HX logo are registered trademarks of
Dow AgroSciences LLC. Liberty®, LibertyLink® and the Water Droplet Design are trademarks of Bayer. YieldGard®, the YieldGard Corn Borer design, Genuity®, Roundup®, Roundup Ready®,,
Xtend™ and Roundup Ready 2 Yield® are registered trademarks of Monsanto Technology LLC used under license. Individual results may vary, and performance may vary from location to
location and from year to year. This result may not be an indicator of results you may obtain as local growing, soil and weather conditions may vary. Growers should evaluate data from multiple
locations and years whenever possible.
Products, benefits and concepts described herein will not be offered for sale or distribution until completion of field testing and applicable regulatory reviews. Pioneer® brand hybrids with event
DP 4114 will not be offered for sale or distribution until completion of field testing and applicable regulatory reviews. Pioneer® brand canola hybrids with glyphosate resistance will not be offered
for sale or distribution until completion of field testing and applicable regulatory reviews. Pioneer® brand soybeans with the Roundup Ready 2 XtendTM technology will not be offered for sale or
distribution until completion of field testing and applicable regulatory reviews.
^ EXPORT APPROVAL NOTICE: This product is fully approved in the United States and Canada. Traits included in these products may or may not be approved in all global markets; therefore,
the combination of these traits and the grain and certain by-products (including oil, dried distillers grain, cobs, and husks) from THESE PRODUCTS MAY NOT BE APPROVED for all markets.
Growers that use this product are required and agree to adhere to the stewardship requirements as outlined in the Pioneer Product Use Guide and product-specific Stewardship Requirements
for this product, which include specific grain disposition requirements. For questions regarding product stewardship and biotech traits please contact your sales representative or refer to
www.pioneer.com/stewardship. Growers are required to discuss trait acceptance and grain channeling policies with their local grain handler prior to delivering grain containing biotech traits.
Always read and follow all precautions and directions provided in product labeling before making in-crop or other applications of any agricultural herbicides or using any other pesticide.
Pioneer is a member of Excellence Through Stewardship® (ETS). Pioneer is a member of Excellence Through Stewardship® (ETS). Pioneer products are commercialized in accordance with
ETS Product Launch Stewardship Guidance and in compliance with the Pioneer policies regarding stewardship of those products. Crops and materials containing biotech traits may only be
exported to or used, processed, or sold in jurisdictions where all necessary regulatory approvals have been granted for those crops and materials. It is a violation of national and international
laws to move materials containing biotech traits across borders into jurisdictions where their import is not permitted. Growers should discuss these issues with their purchaser or grain handler to
confirm the purchaser or handler's position on products being purchased. Excellence Through Stewardship® is a registered trademark of the Biotechnology Industry Organization.
^
The DuPont Oval Logo is a registered trademark of DuPont.
Pioneer® brand products and EncircaSM services are provided subject to the terms and conditions of purchase which are part of the labeling and purchase documents. ®, SM, TM Trademarks and service marks of Pioneer.
© 2015 PHII.