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APRIL 21, 2009                                        Media Contact:      Anthony Farina
 WILMINGTON, Del.                                                          302-773-4418
                                                                           anthony.r.farina@usa.dupont.com

                                                       Investor Contact:   302-774-4994


          DuPont Reports First Quarter 2009 Earnings In-Line with Guidance
Company Expands Actions to Further Strengthen Competitiveness, Address Weak Global Outlook


 Highlights:
    • DuPont’s first quarter 2009 earnings were $.54 per share, in-line with guidance. Results
        reflect earnings from Agriculture & Nutrition and pharmaceuticals, strong companywide
        pricing and cost discipline, partly offset by the impact of a severe decline in global
        industrial demand.

      •    The Agriculture & Nutrition segment performance was strong, with sales growth of
           6 percent and earnings growth of 8 percent despite significant currency headwinds.
           Performance was driven by higher North American volumes and significant seed pricing
           gains.

      •    DuPont increased its 2009 fixed cost reduction goal to $1 billion and reduced planned
           capital expenditures an additional $200 million, to $1.4 billion.

      •    The company revised its full-year 2009 earnings outlook to a range of $1.70 to $2.10 per
           share, with the expectation of difficult market conditions continuing with the exception of
           global agriculture markets.

      •    DuPont declared a second quarter dividend of $.41 per share, unchanged from the first
           quarter. This is the company’s 419th consecutive dividend.


                     “Our strong first quarter performance in Agriculture & Nutrition and pharmaceuticals,
 combined with gains from our pricing discipline and cost and capital reductions, helped to offset the
 impact of the largest decline in industrial demand in decades,” said DuPont CEO Ellen J. Kullman. “As
 we committed to do in December, we are addressing the more challenging economic conditions with
 further steps to aggressively manage costs, enhance productivity and operate even more efficiently.”
                     “Our teams are working with urgency and agility to stay ahead of the worst global
 recession since the 1930s,” Kullman said. “Our preemptive actions will preserve our strong cash
 generating capability, while positioning our businesses for improved profitability as global markets
 rebound.”




 E. I. du Pont de Nemours and Company
2

Net Income and Global Consolidated Sales
                  Net income attributable to DuPont for the first quarter 2009 was $488 million versus
$1,191 million in the prior year. Consolidated net sales in the first quarter of $6.9 billion were 20
percent lower than prior year, reflecting 19 percent lower volume and a net 1 percent reduction due to
portfolio changes. Five percent higher local prices were offset by a 5 percent negative impact from
currency. Lower sales volume principally reflects global declines in construction, motor vehicle
production and consumer spending, which was magnified by inventory de-stocking across most supply
chains. The table below shows worldwide and regional sales performance for first quarter 2009 versus
first quarter 2008.

                                   T hre e M onths En ded
                                      M a rc h 31 , 2009                    Perc en ta ge C han ge Du e to:
                                                                L oc al
                                                   %          C urre nc y       C urre ncy                    Portfolio/
(dollars in billio ns)                 $         Ch ange        Pric e           E ffe ct     V o lum e        O the r
U.S.                               $       3.1         ( 9)             6                -         (14)             (1 )
                                                                                                   (20)                -
Eur ope                                    2.1       (2 8)              3             (11)
Asia Pac ific                              0.9        (2 8)             5              (1)         (31)             (1 )
                                           0.8       (2 2)              9             (11)         (19)             (1 )
Can ada & La t. Ame ric a
To ta l C onsolida te d Sa le s    $       6.9        (2 0)            5                (5)        (19)             (1 )


Earnings Per Share
                  The table below shows the variances in first quarter 2009 earnings per share (EPS) versus
first quarter 2008.


                                            EPS ANALYSIS
                                                                              1Q
                      EPS - 2008                                             $1.31
                        Local prices                                          .37
                        Variable costs*                                      (.16)
                        Volume                                               (.62)
                        Low Capacity Utilization**                           (.18)
                        Fixed costs *                                         .05
                        Currency                                             (.18)
                        Exchange loss                                        (.02)
                        Tax                                                   .02
                        Other***                                             (.05)
                      EPS – 2009                                              $.54

                      *Excluding volume & currency
                      **Fixed manufacturing cost, normally reflected in inventory,
                      expensed as a result of low production volumes.
                      ***Includes interest expense, income from pharmaceuticals and
                      equity affiliates, and the impact of portfolio changes.
3

Business Segment Performance
                The tables below show first quarter 2009 segment sales and related variances versus
prior year, and pre-tax operating income (loss). Segment operating performance reflects pre-tax
operating income (PTOI) improvements versus prior year for Agriculture & Nutrition and
pharmaceuticals which were more than offset by substantial earnings declines for the other four
segments. The earnings decline for those segments, principally reflecting a combined 30 percent drop
in sales volume versus prior year, was partly offset by about $250 million in companywide fixed cost
reduction programs.


                                               Three Months Ended                           Percentage Change
SEGMENT SALES*
                                                 March 31, 2009                                  Due to:
(Dollars in billions)

                                                                                    USD                     Portfolio
                                                   $              % Change          Price       Volume     and Other
Agriculture & Nutrition                        $           3.1            6               5            1             -
Coatings & Color Technologies                              1.2         (30)             (1)         (29)             -
Electronic & Communication Technologies                    0.7         (32)             (1)         (31)             -
Performance Materials                                      0.9         (45)             (3)         (39)          (3)
Safety & Protection                                        1.0         (24)             (5)         (18)          (1)

*   Segment sales include transfers




                            PRE-TAX OPERATING INCOME (LOSS)
                                                                 Three Months Ended
                                                                    Mar 31, 2009

                                                                 2009                2008
    (Dollars in millions)

    Agriculture & Nutrition                            $                 852    $             786
    Coatings & Color Technologies                                        (19)                 190
    Electronic & Communication Technologies                              (54)                 175
    Performance Materials                                               (146)                 219
    Safety & Protection                                                   72                  272
          Total Growth Platforms                                        705                 1,642
    Pharmaceuticals                                                     252                   235
    Other                                                               (44)                  (26)
           Total Segments                              $                913     $           1,851
4

The following is a summary of business results for each of the company’s operating segments,
comparing sales and PTOI (loss) for first quarter 2009 versus first quarter 2008. All references to
selling price changes are on a U.S. dollar basis, including the impact of currency.


Agriculture & Nutrition
•  Sales of $3.1 billion were up 6 percent reflecting production agriculture price increases and North
   America and Europe seed volume gains, partly offset by currency.

•   PTOI was $852 million, up 8 percent, driven by higher sales, partly offset by significant unfavorable
    currency impact and increased input costs.

Coatings & Color Technologies
•  Sales of $1.2 billion were down 30 percent primarily reflecting broad-based volume declines across
   all regions and businesses.

•   The pre-tax loss of $19 million reflects lower sales volumes and unfavorable currency impact partly
    offset by fixed cost reductions and higher local prices.

Electronic & Communication Technologies
•   Sales of $696 million were down 32 percent reflecting 31 percent lower volumes and 1 percent lower
    selling prices. Lower volumes reflect significant de-stocking in supply chains for many electronic
    materials and general industrial markets.

•   The pre-tax loss of $54 million reflects the depressed sales volumes and higher input costs, partly
    offset by fixed cost reductions.

Performance Materials
•  Sales of $942 million were down 45 percent reflecting declines in major markets in all regions,
   precipitated by de-stocking and weak final demand, particularly in motor vehicle and general
   industrial end markets.

•   The pre-tax loss of $146 million reflects lower volume and higher raw material costs, partly offset by
    reductions in fixed costs.

Safety & Protection
•   Sales of $1.0 billion were down 24 percent reflecting an 18 percent volume decline and 5 percent
    lower selling prices. Volumes were down in all product lines, most significantly in North American
    and European motor vehicle, construction and general industrial markets.

•   PTOI of $72 million principally reflects the impact of lower sales volumes.

Additional information on segment performance is available on the DuPont Investor Center website at
www.dupont.com.
5

2009 Cost Reduction and Productivity Actions
                 DuPont is expanding actions to address weaker global market conditions and further
enhance its long-term competitiveness, which include higher 2009 targets for cost and capital reductions.
Below is a summary of the company’s additional actions:

•   The company is increasing its 2009 fixed cost reduction goal from $730 million to
    $1 billion. In December 2008, DuPont initiated $600 million in fixed cost reduction projects and a
    restructuring program with $130 million in restructuring benefits for 2009. The company has now
    identified an additional $200 million in cost reduction actions, including reducing additional
    contractor positions and work schedule reductions. DuPont is also developing plans for additional
    restructuring actions, expected to be finalized and approved in the second quarter 2009, with a
    targeted $70 million pre-tax savings and positive cash flow benefit in 2009. This is in addition to
    restructuring plans announced in December 2008.
•   The company is reducing 2009 capital expenditures from $1.6 billion to $1.4 billion,
    30 percent below 2008 expenditures of $2.0 billion.
•   Working capital reduction projects are fully underway and expected to deliver a $1 billion improvement over
    2008, as previously announced.
•   Based on the above, the full year outlook for free cash flow remains about $2.5 billion.

Outlook
                 The company’s 2009 earnings outlook has been revised downward to a range of $1.70 to
$2.10 per share, excluding any significant items. The revision anticipates that weak demand across key
markets will continue throughout 2009. While favorable conditions in global agriculture markets and the
benefit of cost reductions and lower raw material costs are expected, the protracted recessionary
environment and the impact of currency are expected to limit the company’s revenue growth. DuPont
will continue aggressive actions to reduce costs and capital expenditures, in addition to maintaining an
appropriate level of investment for high-growth, high-margin businesses including seed products and
photovoltaics.
                 For the second quarter 2009, the company anticipates revenue growth to be limited by
continuing weak demand in non-agriculture markets, the negative impact of currency, with some
sequential improvement due to less de-stocking across multiple value chains. DuPont’s Agriculture &
Nutrition segment anticipates modest year-over-year revenue growth driven by pricing and volume
gains partly offset by currency. The company will continue its aggressive cost and capital reduction
programs.
6

Use of Non-GAAP Measures
                  Management believes that certain non-GAAP measurements, such as free cash flow,
are meaningful to investors because they provide insight with respect to ongoing operating results of
the company. Such measurements are not recognized in accordance with generally accepted
accounting principles (GAAP) and should not be viewed as an alternative to GAAP measures of
performance. Reconciliations of non-GAAP measures to GAAP are provided in schedules C and D.
                  DuPont is a science-based products and services company. Founded in 1802, DuPont
puts science to work by creating sustainable solutions essential to a better, safer, healthier life for
people everywhere. Operating in more than 70 countries, DuPont offers a wide range of innovative
products and services for markets including agriculture and food; building and construction;
communications; and transportation.

Forward-Looking Statements: This news release contains forward-looking statements based on management's
current expectations, estimates and projections. All statements that address expectations or projections about the
future, including statements about the company's strategy for growth, product development, market position,
expected expenditures and financial results are forward-looking statements. Some of the forward-looking
statements may be identified by words like quot;expects,quot; quot;anticipates,quot; quot;plans,quot; quot;intends,quot; quot;projects,quot; quot;indicates,quot;
and similar expressions. These statements are not guarantees of future performance and involve a number of
risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this
release and in documents filed with the Securities and Exchange Commission by DuPont, particularly its latest
annual report on Form 10-K and quarterly report on Form 10-Q, as well as others, could cause results to differ
materially from those stated. These factors include, but are not limited to changes in the laws, regulations,
policies and economic conditions, including inflation, interest and foreign currency exchange rates, of countries
in which the company does business; competitive pressures; successful integration of structural changes,
including restructuring plans, acquisitions, divestitures and alliances; cost of raw materials, research and
development of new products, including regulatory approval and market acceptance; seasonality of sales of
agricultural products; and severe weather events that cause business interruptions, including plant and power
outages, or disruptions in supplier and customer operations. The company undertakes no duty to update any
forward-looking statements as a result of future developments or new information.

                                                      ###
4/21/09
7

                                         E. I. du Pont de Nemours and Company
                                             Consolidated Income Statements
                                      (Dollars in millions, except per share amounts )

SCHEDULE A
                                                                                              Three Months Ended
                                                                                                   March 31,
                                                                                             2009             2008
Net sales                                                                                $     6,871    $        8,575
Other income, net                                                                                399               195
Total                                                                                          7,270             8,770

Cost of goods sold and other operating charges                                                 5,185             5,956
Selling, general and administrative expenses                                                     907               934
Research and development expense                                                                 323               330
Interest expense                                                                                 106                80
Total                                                                                          6,521             7,300

Income before income taxes                                                                      749              1,470
Provision for income taxes                                                                      260                273
Net income                                                                                      489              1,197
Less: Net income attributable to noncontrolling interests                                           1                6
Net income attributable to DuPont                                                        $      488     $        1,191
Basic earnings per share of common stock                                                 $      0.54    $          1.32
Diluted earnings per share of common stock                                               $      0.54    $          1.31
Dividends per share of common stock                                                      $      0.41    $          0.41

Average number of shares outstanding used in earnings per share (EPS) calculation:
 Basic                                                                                   903,893,000        900,646,000
 Diluted                                                                                 905,665,000        906,193,000
8

                                          E. I. du Pont de Nemours and Company
                                                 Consolidated Balance Sheets
                                       (Dollars in millions, except per share amounts )


SCHEDULE A (continued)
                                                                                              March 31,     December 31,
                                                                                               2009            2008
Assets
Current assets
  Cash and cash equivalents                                                               $        2,386    $     3,645
  Marketable securities                                                                               21             59
  Accounts and notes receivable, net                                                               6,423          5,140
  Inventories                                                                                      4,615          5,681
  Prepaid expenses                                                                                   200            143
  Income taxes                                                                                       570            643
    Total current assets                                                                          14,215         15,311
Property, plant and equipment, net of accumulated depreciation
  (March 31, 2009 - $17,117; December 31, 2008 - $16,800)                                         11,164         11,154
Goodwill                                                                                           2,128          2,135
Other intangible assets                                                                            2,612          2,710
Investment in affiliates                                                                             877            844
Other assets                                                                                       3,892          4,055
     Total                                                                                $       34,888    $    36,209

Liabilities and Stockholders' Equity
Current liabilities
 Accounts payable                                                                         $        2,300    $     3,128
 Short-term borrowings and capital lease obligations                                               1,569          2,012
 Income taxes                                                                                        155            110
 Other accrued liabilities                                                                         3,578          4,460
   Total current liabilities                                                                       7,602          9,710
Long-term borrowings and capital lease obligations                                                 8,490          7,638
Other liabilities                                                                                 11,011         11,169
Deferred income taxes                                                                                142            140
   Total liabilities                                                                              27,245         28,657
Commitments and contingent liabilities
Stockholders' equity
Preferred stock                                                                                      237            237
Common stock, $0.30 par value; 1,800,000,000 shares authorized;
  issued at March 31, 2009 - 990,624,000; December 31, 2008 - 989,415,000                            297            297
Additional paid-in capital                                                                         8,396          8,380
Reinvested earnings                                                                               10,569         10,456
Accumulated other comprehensive loss                                                              (5,558)        (5,518)
Common stock held in treasury, at cost (87,041,000 shares at March 31, 2009
  and December 31, 2008)                                                                          (6,727)        (6,727)
     Total DuPont stockholders' equity                                                             7,214          7,125
Noncontrolling interests                                                                             429            427
     Total stockholders' equity                                                                    7,643          7,552
     Total                                                                                $       34,888    $    36,209
9

                                         E. I. du Pont de Nemours and Company
                                     Condensed Consolidated Statements of Cash Flows
                                                   (Dollars in millions )

SCHEDULE A (continued)
                                                                                           Three Months Ended
                                                                                                March 31,
                                                                                           2009              2008

Cash used for operating activities                                                     $      (832)      $      (951)

Investing activities
  Purchases of property, plant and equipment                                                  (358)             (410)
  Investments in affiliates                                                                     (8)               (3)
  Other investing activities - net                                                             (27)             (107)
Cash used for investing activities                                                            (393)             (520)

Financing activities
  Dividends paid to stockholders                                                              (375)             (372)
  Net increase in borrowings                                                                   433             1,611
  Other financing activities - net                                                             (38)               23
Cash provided by financing activities                                                           20             1,262

Effect of exchange rate changes on cash                                                           (54)              (2)

Decrease in cash and cash equivalents                                                       (1,259)             (211)

Cash and cash equivalents at beginning of period                                             3,645             1,305

Cash and cash equivalents at end of period                                             $     2,386       $     1,094
10

                                             E. I. du Pont de Nemours and Company
                                                   Schedules of Significant Items
                                          (Dollars in millions, except per share amounts )

SCHEDULE B
SIGNIFICANT ITEMS

There were no significant items for the three months ended March 31, 2009 and 2008, respectively.
11

                                         E. I. du Pont de Nemours and Company
                                           Consolidated Segment Information
                                                   (Dollars in millions )

SCHEDULE C
                                                                                                  Three Months Ended
                                                                                                       March 31,
SEGMENT SALES (1)                                                                                 2009          2008
Agriculture & Nutrition                                                                          $ 3,062       $ 2,883
Coatings & Color Technologies                                                                      1,156         1,645
Electronic & Communication Technologies                                                              696         1,026
Performance Materials                                                                                942         1,713
Safety & Protection                                                                                1,033         1,365
Other                                                                                                 28            40
Total Segment sales                                                                              $ 6,917       $ 8,672

Elimination of transfers                                                                             (46)          (97)
Consolidated net sales                                                                           $ 6,871       $ 8,575


                                                                                                  Three Months Ended
                                                                                                       March 31,
PRETAX OPERATING INCOME/(LOSS) (PTOI)                                                                2009          2008
Agriculture & Nutrition                                                                          $      852    $      786
Coatings & Color Technologies                                                                           (19)          190
Electronic & Communication Technologies                                                                 (54)          175
Performance Materials                                                                                  (146)          219
Safety & Protection                                                                                      72           272
Total Growth Platforms                                                                                  705         1,642

Pharmaceuticals                                                                                        252         235
Other                                                                                                  (44)        (26)
Total Segment PTOI                                                                               $     913     $ 1,851

Net exchange gains (losses) (2)                                                                         70        (155)
Corporate expenses & net interest                                                                     (234)       (226)
Income before income taxes                                                                       $     749     $ 1,470


(1) Sales for the reporting segments include transfers.
(2) Net after-tax exchange activity for the three months ended March 31, 2009 and 2008 were losses of
    $33 and $14, respectively. Gains and losses resulting from the company's hedging program are largely
    offset by associated tax effects. See Schedule D for additional information.
12

                                          E. I. du Pont de Nemours and Company
                                          Reconciliation of Non-GAAP Measures
                                       (Dollars in millions, except per share amounts )

SCHEDULE D

Reconciliations of EBIT / EBITDA to Consolidated Income Statement
                                                                                              Three Months Ended
                                                                                                   March 31,
                                                                                              2009         2008

Income before income taxes                                                                $   749        $ 1,470
Less: Net income attributable to noncontrolling interests                                       1              6
Add: Interest expense                                                                         106             80
Adjusted EBIT                                                                                 854          1,544
Add: Depreciation and amortization                                                            399            380
Adjusted EBITDA                                                                           $ 1,253        $ 1,924


Reconciliations of Fixed Costs as a Percent of Sales
                                                                                              Three Months Ended
                                                                                                   March 31,
                                                                                              2009         2008

Total charges and expenses - consolidated income statements                               $ 6,521        $ 7,300
Remove:
 Interest expense                                                                               (106)         (80)
 Variable costs (1)                                                                         (3,434)        (4,140)
   Fixed costs                                                                            $ 2,981        $ 3,080

Consolidated net sales                                                                    $ 6,871        $ 8,575

Fixed costs as a percent of consolidated net sales                                             43.4%        35.9%

(1) Includes variable manufacturing costs, freight, commissions and other selling expenses which vary
    with the volume of sales.


Calculation of Free Cash Flow
                                                                                           Three Months Ended
                                                                                                 March 31,
                                                                                            2009         2008
Cash used by operating activities                                                         $ (832)      $ (951)
Less: Purchases of property, plant and equipment                                               358          410
Free cash flow                                                                            $ (1,190)    $ (1,361)
13

                                            E. I. du Pont de Nemours and Company
                                            Reconciliation of Non-GAAP Measures
                                         (Dollars in millions, except per share amounts )


SCHEDULE D (continued)

Exchange Gains/Losses
The company routinely uses forward exchange contracts to offset its net exposures, by currency, related to the foreign currency
denominated monetary assets and liabilities of its operations. The objective of this program is to maintain an approximately
balanced position in foreign currencies in order to minimize, on an after-tax basis, the effects of exchange rate changes. The
net pretax exchange gains and losses are recorded in Other income, net on the Consolidated Income Statements and are largely
offset by the associated tax impact.

                                                                                                             Three Months Ended
                                                                                                                  March 31,
                                                                                                             2009         2008
Subsidiary/Affiliate Monetary Position Gain/(Loss)
Pretax exchange gains (losses) (includes equity affiliates)                                              $     (125)    $       150
Local tax benefits (expenses)                                                                                   (32)             34
Net after-tax impact from subsidiary exchange gains (losses)                                             $     (157)    $       184

Hedging Program Gain/(Loss)
Pretax exchange gains (losses)                                                                           $      195     $      (305)
Tax benefits (expenses)                                                                                         (71)            107
Net after-tax impact from hedging program exchange gains (losses)                                        $      124     $      (198)

Total Exchange Gain/(Loss)
Pretax exchange gains (losses)                                                                           $       70     $      (155)
Tax benefits (expenses)                                                                                        (103)            141
Net after-tax exchange losses                                                                            $      (33)    $       (14)

As shown above, the quot;Total Exchange Gain (Loss)quot; is the sum of the quot;Subsidiary/Affiliate Monetary Position Gain (Loss)quot; and
the quot;Hedging Program Gain (Loss).quot;


Reconciliation of Base Income Tax Rate to Effective Income Tax Rate
Base income tax rate is defined as the effective income tax rate less the effect of exchange gains/losses, as defined above.

                                                                                                             Three Months Ended
                                                                                                                  March 31,
                                                                                                             2009         2008

Income before income taxes                                                                               $      749     $ 1,470
Less: Net exchange gains (losses)                                                                                70        (155)
Income before income taxes and exchange gains/losses                                                     $      679     $ 1,625

Provision for income taxes                                                                               $      260     $       273
Tax benefits (expenses) on exchange gains/losses                                                               (103)            141
Provision for income taxes, excluding taxes on exchange gains/losses                                     $      157     $       414

Effective income tax rate                                                                                     34.7%            18.6%
Exchange gains/losses effect                                                                                 -11.6%             6.9%
Base income tax rate                                                                                          23.1%            25.5%
14

                                         E. I. du Pont de Nemours and Company
                                         Reconciliation of Non-GAAP Measures
                                      (Dollars in millions, except per share amounts )

SCHEDULE D (continued)

Reconciliation of Earnings Per Share (EPS) Outlook
                                                                 Year Ended
                                                                December 31,
                                                            2009            2008
                                                           Outlook         Actual

Earnings per share - excluding significant items       $1.70 to $2.10     $       2.78
Significant items included in EPS:
   Hurricane charge                                              -               (0.16)
   Restructuring charge                                          -               (0.42)
Net charge for significant items                                 -               (0.58)
Reported EPS                                           $1.70 to $2.10     $       2.20

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Q1 2009 Earning Report of Du Pont E I De Nemours

  • 1. APRIL 21, 2009 Media Contact: Anthony Farina WILMINGTON, Del. 302-773-4418 anthony.r.farina@usa.dupont.com Investor Contact: 302-774-4994 DuPont Reports First Quarter 2009 Earnings In-Line with Guidance Company Expands Actions to Further Strengthen Competitiveness, Address Weak Global Outlook Highlights: • DuPont’s first quarter 2009 earnings were $.54 per share, in-line with guidance. Results reflect earnings from Agriculture & Nutrition and pharmaceuticals, strong companywide pricing and cost discipline, partly offset by the impact of a severe decline in global industrial demand. • The Agriculture & Nutrition segment performance was strong, with sales growth of 6 percent and earnings growth of 8 percent despite significant currency headwinds. Performance was driven by higher North American volumes and significant seed pricing gains. • DuPont increased its 2009 fixed cost reduction goal to $1 billion and reduced planned capital expenditures an additional $200 million, to $1.4 billion. • The company revised its full-year 2009 earnings outlook to a range of $1.70 to $2.10 per share, with the expectation of difficult market conditions continuing with the exception of global agriculture markets. • DuPont declared a second quarter dividend of $.41 per share, unchanged from the first quarter. This is the company’s 419th consecutive dividend. “Our strong first quarter performance in Agriculture & Nutrition and pharmaceuticals, combined with gains from our pricing discipline and cost and capital reductions, helped to offset the impact of the largest decline in industrial demand in decades,” said DuPont CEO Ellen J. Kullman. “As we committed to do in December, we are addressing the more challenging economic conditions with further steps to aggressively manage costs, enhance productivity and operate even more efficiently.” “Our teams are working with urgency and agility to stay ahead of the worst global recession since the 1930s,” Kullman said. “Our preemptive actions will preserve our strong cash generating capability, while positioning our businesses for improved profitability as global markets rebound.” E. I. du Pont de Nemours and Company
  • 2. 2 Net Income and Global Consolidated Sales Net income attributable to DuPont for the first quarter 2009 was $488 million versus $1,191 million in the prior year. Consolidated net sales in the first quarter of $6.9 billion were 20 percent lower than prior year, reflecting 19 percent lower volume and a net 1 percent reduction due to portfolio changes. Five percent higher local prices were offset by a 5 percent negative impact from currency. Lower sales volume principally reflects global declines in construction, motor vehicle production and consumer spending, which was magnified by inventory de-stocking across most supply chains. The table below shows worldwide and regional sales performance for first quarter 2009 versus first quarter 2008. T hre e M onths En ded M a rc h 31 , 2009 Perc en ta ge C han ge Du e to: L oc al % C urre nc y C urre ncy Portfolio/ (dollars in billio ns) $ Ch ange Pric e E ffe ct V o lum e O the r U.S. $ 3.1 ( 9) 6 - (14) (1 ) (20) - Eur ope 2.1 (2 8) 3 (11) Asia Pac ific 0.9 (2 8) 5 (1) (31) (1 ) 0.8 (2 2) 9 (11) (19) (1 ) Can ada & La t. Ame ric a To ta l C onsolida te d Sa le s $ 6.9 (2 0) 5 (5) (19) (1 ) Earnings Per Share The table below shows the variances in first quarter 2009 earnings per share (EPS) versus first quarter 2008. EPS ANALYSIS 1Q EPS - 2008 $1.31 Local prices .37 Variable costs* (.16) Volume (.62) Low Capacity Utilization** (.18) Fixed costs * .05 Currency (.18) Exchange loss (.02) Tax .02 Other*** (.05) EPS – 2009 $.54 *Excluding volume & currency **Fixed manufacturing cost, normally reflected in inventory, expensed as a result of low production volumes. ***Includes interest expense, income from pharmaceuticals and equity affiliates, and the impact of portfolio changes.
  • 3. 3 Business Segment Performance The tables below show first quarter 2009 segment sales and related variances versus prior year, and pre-tax operating income (loss). Segment operating performance reflects pre-tax operating income (PTOI) improvements versus prior year for Agriculture & Nutrition and pharmaceuticals which were more than offset by substantial earnings declines for the other four segments. The earnings decline for those segments, principally reflecting a combined 30 percent drop in sales volume versus prior year, was partly offset by about $250 million in companywide fixed cost reduction programs. Three Months Ended Percentage Change SEGMENT SALES* March 31, 2009 Due to: (Dollars in billions) USD Portfolio $ % Change Price Volume and Other Agriculture & Nutrition $ 3.1 6 5 1 - Coatings & Color Technologies 1.2 (30) (1) (29) - Electronic & Communication Technologies 0.7 (32) (1) (31) - Performance Materials 0.9 (45) (3) (39) (3) Safety & Protection 1.0 (24) (5) (18) (1) * Segment sales include transfers PRE-TAX OPERATING INCOME (LOSS) Three Months Ended Mar 31, 2009 2009 2008 (Dollars in millions) Agriculture & Nutrition $ 852 $ 786 Coatings & Color Technologies (19) 190 Electronic & Communication Technologies (54) 175 Performance Materials (146) 219 Safety & Protection 72 272 Total Growth Platforms 705 1,642 Pharmaceuticals 252 235 Other (44) (26) Total Segments $ 913 $ 1,851
  • 4. 4 The following is a summary of business results for each of the company’s operating segments, comparing sales and PTOI (loss) for first quarter 2009 versus first quarter 2008. All references to selling price changes are on a U.S. dollar basis, including the impact of currency. Agriculture & Nutrition • Sales of $3.1 billion were up 6 percent reflecting production agriculture price increases and North America and Europe seed volume gains, partly offset by currency. • PTOI was $852 million, up 8 percent, driven by higher sales, partly offset by significant unfavorable currency impact and increased input costs. Coatings & Color Technologies • Sales of $1.2 billion were down 30 percent primarily reflecting broad-based volume declines across all regions and businesses. • The pre-tax loss of $19 million reflects lower sales volumes and unfavorable currency impact partly offset by fixed cost reductions and higher local prices. Electronic & Communication Technologies • Sales of $696 million were down 32 percent reflecting 31 percent lower volumes and 1 percent lower selling prices. Lower volumes reflect significant de-stocking in supply chains for many electronic materials and general industrial markets. • The pre-tax loss of $54 million reflects the depressed sales volumes and higher input costs, partly offset by fixed cost reductions. Performance Materials • Sales of $942 million were down 45 percent reflecting declines in major markets in all regions, precipitated by de-stocking and weak final demand, particularly in motor vehicle and general industrial end markets. • The pre-tax loss of $146 million reflects lower volume and higher raw material costs, partly offset by reductions in fixed costs. Safety & Protection • Sales of $1.0 billion were down 24 percent reflecting an 18 percent volume decline and 5 percent lower selling prices. Volumes were down in all product lines, most significantly in North American and European motor vehicle, construction and general industrial markets. • PTOI of $72 million principally reflects the impact of lower sales volumes. Additional information on segment performance is available on the DuPont Investor Center website at www.dupont.com.
  • 5. 5 2009 Cost Reduction and Productivity Actions DuPont is expanding actions to address weaker global market conditions and further enhance its long-term competitiveness, which include higher 2009 targets for cost and capital reductions. Below is a summary of the company’s additional actions: • The company is increasing its 2009 fixed cost reduction goal from $730 million to $1 billion. In December 2008, DuPont initiated $600 million in fixed cost reduction projects and a restructuring program with $130 million in restructuring benefits for 2009. The company has now identified an additional $200 million in cost reduction actions, including reducing additional contractor positions and work schedule reductions. DuPont is also developing plans for additional restructuring actions, expected to be finalized and approved in the second quarter 2009, with a targeted $70 million pre-tax savings and positive cash flow benefit in 2009. This is in addition to restructuring plans announced in December 2008. • The company is reducing 2009 capital expenditures from $1.6 billion to $1.4 billion, 30 percent below 2008 expenditures of $2.0 billion. • Working capital reduction projects are fully underway and expected to deliver a $1 billion improvement over 2008, as previously announced. • Based on the above, the full year outlook for free cash flow remains about $2.5 billion. Outlook The company’s 2009 earnings outlook has been revised downward to a range of $1.70 to $2.10 per share, excluding any significant items. The revision anticipates that weak demand across key markets will continue throughout 2009. While favorable conditions in global agriculture markets and the benefit of cost reductions and lower raw material costs are expected, the protracted recessionary environment and the impact of currency are expected to limit the company’s revenue growth. DuPont will continue aggressive actions to reduce costs and capital expenditures, in addition to maintaining an appropriate level of investment for high-growth, high-margin businesses including seed products and photovoltaics. For the second quarter 2009, the company anticipates revenue growth to be limited by continuing weak demand in non-agriculture markets, the negative impact of currency, with some sequential improvement due to less de-stocking across multiple value chains. DuPont’s Agriculture & Nutrition segment anticipates modest year-over-year revenue growth driven by pricing and volume gains partly offset by currency. The company will continue its aggressive cost and capital reduction programs.
  • 6. 6 Use of Non-GAAP Measures Management believes that certain non-GAAP measurements, such as free cash flow, are meaningful to investors because they provide insight with respect to ongoing operating results of the company. Such measurements are not recognized in accordance with generally accepted accounting principles (GAAP) and should not be viewed as an alternative to GAAP measures of performance. Reconciliations of non-GAAP measures to GAAP are provided in schedules C and D. DuPont is a science-based products and services company. Founded in 1802, DuPont puts science to work by creating sustainable solutions essential to a better, safer, healthier life for people everywhere. Operating in more than 70 countries, DuPont offers a wide range of innovative products and services for markets including agriculture and food; building and construction; communications; and transportation. Forward-Looking Statements: This news release contains forward-looking statements based on management's current expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the company's strategy for growth, product development, market position, expected expenditures and financial results are forward-looking statements. Some of the forward-looking statements may be identified by words like quot;expects,quot; quot;anticipates,quot; quot;plans,quot; quot;intends,quot; quot;projects,quot; quot;indicates,quot; and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in documents filed with the Securities and Exchange Commission by DuPont, particularly its latest annual report on Form 10-K and quarterly report on Form 10-Q, as well as others, could cause results to differ materially from those stated. These factors include, but are not limited to changes in the laws, regulations, policies and economic conditions, including inflation, interest and foreign currency exchange rates, of countries in which the company does business; competitive pressures; successful integration of structural changes, including restructuring plans, acquisitions, divestitures and alliances; cost of raw materials, research and development of new products, including regulatory approval and market acceptance; seasonality of sales of agricultural products; and severe weather events that cause business interruptions, including plant and power outages, or disruptions in supplier and customer operations. The company undertakes no duty to update any forward-looking statements as a result of future developments or new information. ### 4/21/09
  • 7. 7 E. I. du Pont de Nemours and Company Consolidated Income Statements (Dollars in millions, except per share amounts ) SCHEDULE A Three Months Ended March 31, 2009 2008 Net sales $ 6,871 $ 8,575 Other income, net 399 195 Total 7,270 8,770 Cost of goods sold and other operating charges 5,185 5,956 Selling, general and administrative expenses 907 934 Research and development expense 323 330 Interest expense 106 80 Total 6,521 7,300 Income before income taxes 749 1,470 Provision for income taxes 260 273 Net income 489 1,197 Less: Net income attributable to noncontrolling interests 1 6 Net income attributable to DuPont $ 488 $ 1,191 Basic earnings per share of common stock $ 0.54 $ 1.32 Diluted earnings per share of common stock $ 0.54 $ 1.31 Dividends per share of common stock $ 0.41 $ 0.41 Average number of shares outstanding used in earnings per share (EPS) calculation: Basic 903,893,000 900,646,000 Diluted 905,665,000 906,193,000
  • 8. 8 E. I. du Pont de Nemours and Company Consolidated Balance Sheets (Dollars in millions, except per share amounts ) SCHEDULE A (continued) March 31, December 31, 2009 2008 Assets Current assets Cash and cash equivalents $ 2,386 $ 3,645 Marketable securities 21 59 Accounts and notes receivable, net 6,423 5,140 Inventories 4,615 5,681 Prepaid expenses 200 143 Income taxes 570 643 Total current assets 14,215 15,311 Property, plant and equipment, net of accumulated depreciation (March 31, 2009 - $17,117; December 31, 2008 - $16,800) 11,164 11,154 Goodwill 2,128 2,135 Other intangible assets 2,612 2,710 Investment in affiliates 877 844 Other assets 3,892 4,055 Total $ 34,888 $ 36,209 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 2,300 $ 3,128 Short-term borrowings and capital lease obligations 1,569 2,012 Income taxes 155 110 Other accrued liabilities 3,578 4,460 Total current liabilities 7,602 9,710 Long-term borrowings and capital lease obligations 8,490 7,638 Other liabilities 11,011 11,169 Deferred income taxes 142 140 Total liabilities 27,245 28,657 Commitments and contingent liabilities Stockholders' equity Preferred stock 237 237 Common stock, $0.30 par value; 1,800,000,000 shares authorized; issued at March 31, 2009 - 990,624,000; December 31, 2008 - 989,415,000 297 297 Additional paid-in capital 8,396 8,380 Reinvested earnings 10,569 10,456 Accumulated other comprehensive loss (5,558) (5,518) Common stock held in treasury, at cost (87,041,000 shares at March 31, 2009 and December 31, 2008) (6,727) (6,727) Total DuPont stockholders' equity 7,214 7,125 Noncontrolling interests 429 427 Total stockholders' equity 7,643 7,552 Total $ 34,888 $ 36,209
  • 9. 9 E. I. du Pont de Nemours and Company Condensed Consolidated Statements of Cash Flows (Dollars in millions ) SCHEDULE A (continued) Three Months Ended March 31, 2009 2008 Cash used for operating activities $ (832) $ (951) Investing activities Purchases of property, plant and equipment (358) (410) Investments in affiliates (8) (3) Other investing activities - net (27) (107) Cash used for investing activities (393) (520) Financing activities Dividends paid to stockholders (375) (372) Net increase in borrowings 433 1,611 Other financing activities - net (38) 23 Cash provided by financing activities 20 1,262 Effect of exchange rate changes on cash (54) (2) Decrease in cash and cash equivalents (1,259) (211) Cash and cash equivalents at beginning of period 3,645 1,305 Cash and cash equivalents at end of period $ 2,386 $ 1,094
  • 10. 10 E. I. du Pont de Nemours and Company Schedules of Significant Items (Dollars in millions, except per share amounts ) SCHEDULE B SIGNIFICANT ITEMS There were no significant items for the three months ended March 31, 2009 and 2008, respectively.
  • 11. 11 E. I. du Pont de Nemours and Company Consolidated Segment Information (Dollars in millions ) SCHEDULE C Three Months Ended March 31, SEGMENT SALES (1) 2009 2008 Agriculture & Nutrition $ 3,062 $ 2,883 Coatings & Color Technologies 1,156 1,645 Electronic & Communication Technologies 696 1,026 Performance Materials 942 1,713 Safety & Protection 1,033 1,365 Other 28 40 Total Segment sales $ 6,917 $ 8,672 Elimination of transfers (46) (97) Consolidated net sales $ 6,871 $ 8,575 Three Months Ended March 31, PRETAX OPERATING INCOME/(LOSS) (PTOI) 2009 2008 Agriculture & Nutrition $ 852 $ 786 Coatings & Color Technologies (19) 190 Electronic & Communication Technologies (54) 175 Performance Materials (146) 219 Safety & Protection 72 272 Total Growth Platforms 705 1,642 Pharmaceuticals 252 235 Other (44) (26) Total Segment PTOI $ 913 $ 1,851 Net exchange gains (losses) (2) 70 (155) Corporate expenses & net interest (234) (226) Income before income taxes $ 749 $ 1,470 (1) Sales for the reporting segments include transfers. (2) Net after-tax exchange activity for the three months ended March 31, 2009 and 2008 were losses of $33 and $14, respectively. Gains and losses resulting from the company's hedging program are largely offset by associated tax effects. See Schedule D for additional information.
  • 12. 12 E. I. du Pont de Nemours and Company Reconciliation of Non-GAAP Measures (Dollars in millions, except per share amounts ) SCHEDULE D Reconciliations of EBIT / EBITDA to Consolidated Income Statement Three Months Ended March 31, 2009 2008 Income before income taxes $ 749 $ 1,470 Less: Net income attributable to noncontrolling interests 1 6 Add: Interest expense 106 80 Adjusted EBIT 854 1,544 Add: Depreciation and amortization 399 380 Adjusted EBITDA $ 1,253 $ 1,924 Reconciliations of Fixed Costs as a Percent of Sales Three Months Ended March 31, 2009 2008 Total charges and expenses - consolidated income statements $ 6,521 $ 7,300 Remove: Interest expense (106) (80) Variable costs (1) (3,434) (4,140) Fixed costs $ 2,981 $ 3,080 Consolidated net sales $ 6,871 $ 8,575 Fixed costs as a percent of consolidated net sales 43.4% 35.9% (1) Includes variable manufacturing costs, freight, commissions and other selling expenses which vary with the volume of sales. Calculation of Free Cash Flow Three Months Ended March 31, 2009 2008 Cash used by operating activities $ (832) $ (951) Less: Purchases of property, plant and equipment 358 410 Free cash flow $ (1,190) $ (1,361)
  • 13. 13 E. I. du Pont de Nemours and Company Reconciliation of Non-GAAP Measures (Dollars in millions, except per share amounts ) SCHEDULE D (continued) Exchange Gains/Losses The company routinely uses forward exchange contracts to offset its net exposures, by currency, related to the foreign currency denominated monetary assets and liabilities of its operations. The objective of this program is to maintain an approximately balanced position in foreign currencies in order to minimize, on an after-tax basis, the effects of exchange rate changes. The net pretax exchange gains and losses are recorded in Other income, net on the Consolidated Income Statements and are largely offset by the associated tax impact. Three Months Ended March 31, 2009 2008 Subsidiary/Affiliate Monetary Position Gain/(Loss) Pretax exchange gains (losses) (includes equity affiliates) $ (125) $ 150 Local tax benefits (expenses) (32) 34 Net after-tax impact from subsidiary exchange gains (losses) $ (157) $ 184 Hedging Program Gain/(Loss) Pretax exchange gains (losses) $ 195 $ (305) Tax benefits (expenses) (71) 107 Net after-tax impact from hedging program exchange gains (losses) $ 124 $ (198) Total Exchange Gain/(Loss) Pretax exchange gains (losses) $ 70 $ (155) Tax benefits (expenses) (103) 141 Net after-tax exchange losses $ (33) $ (14) As shown above, the quot;Total Exchange Gain (Loss)quot; is the sum of the quot;Subsidiary/Affiliate Monetary Position Gain (Loss)quot; and the quot;Hedging Program Gain (Loss).quot; Reconciliation of Base Income Tax Rate to Effective Income Tax Rate Base income tax rate is defined as the effective income tax rate less the effect of exchange gains/losses, as defined above. Three Months Ended March 31, 2009 2008 Income before income taxes $ 749 $ 1,470 Less: Net exchange gains (losses) 70 (155) Income before income taxes and exchange gains/losses $ 679 $ 1,625 Provision for income taxes $ 260 $ 273 Tax benefits (expenses) on exchange gains/losses (103) 141 Provision for income taxes, excluding taxes on exchange gains/losses $ 157 $ 414 Effective income tax rate 34.7% 18.6% Exchange gains/losses effect -11.6% 6.9% Base income tax rate 23.1% 25.5%
  • 14. 14 E. I. du Pont de Nemours and Company Reconciliation of Non-GAAP Measures (Dollars in millions, except per share amounts ) SCHEDULE D (continued) Reconciliation of Earnings Per Share (EPS) Outlook Year Ended December 31, 2009 2008 Outlook Actual Earnings per share - excluding significant items $1.70 to $2.10 $ 2.78 Significant items included in EPS: Hurricane charge - (0.16) Restructuring charge - (0.42) Net charge for significant items - (0.58) Reported EPS $1.70 to $2.10 $ 2.20