Translating Strategy into Operational Reality - The 10 Year View Dr. William S. Niebur Pioneer Hi-Bred International, Inc. April 26, 2005

Pioneer Breeding & Genetics Conservation Tillage Soil Fertility Soil Temperatures Oil Prices Water/Drought Irrigation Nitrogen Fertilizer Weeds Nematodes Diseases Insects Soil Salinity Pioneer Breeding & Genetics DuPont Crop Protection Chemicals In-Field Crop Production & Crop Performance Customer Demographics & Segmentation Grower Global Grain Produced Environ- ment Arable Land Product Quality Traits Yield Grain Prices Grain Uses Food Demand Livestock Demand Oil Prices World Population Crop Subsidies Urbanization Soil Prep Planting Treatment Harvesting Budgets WTO Decisions Biotic FactorsAbiotic Factors World Population Developing Economies Population Demographics Industrial Uses, incl. Ethanol Oil Prices Government Policies Gov’t Policies Grain for Specialty Food, Feed & Industrial Uses DuPont Ag & Nutrition Platform / 2005 Pioneer Hi-Bred International and Global Grain Production

Population Projections (2050) Land Available for Agriculture 3% Oceans Seas Rock Ice Desert Cities Towns A world of salt Only MM ha of additional Ag land possible Growing Demand for Freshwater Developed Developing Increasing Affluence (Billions) Affluent Middle Market Subsistence External Realities – Increasing Demand and Shrinking Natural Resources 6  9 BILLION

Pioneer’s Long Look Pioneer, founded in Iowa in 1926 by Henry Wallace, was the first company to develop, produce, and market hybrid seed corn and is now a subsidiary of DuPont. Our business philosophy and policy continues to be: Strive to produce the best products on the market. Deal honestly and fairly. Advertise and sell our products vigorously without misrepresentation. Provide crop production assistance so customers profit from our products. DuPont’s Core Values Safety Ethics Environmental Stewardship Respect for People Pioneer Hi-Bred International and DuPont

Growth in Total Grain Production Crop yields will need to continue to increase to keep pace with increasing incomes, population and demand for meat If yields don’t keep pace, more area will be pulled into production Global corn area increased 4.8% since 1980; production increased 45.0% in that same time More than 130 million “virtual acres” have been created since 1980 World Grain Consumption: Source Information: USDA & GlobalInsight

Pioneer ® Brand Seed Products u Corn, Sorghum, and Sunflower Hybrids u Soybean, Alfalfa, Canola, and Wheat Varieties u Microbial Inoculants for Forage and Grain World leader in crop genetics –Sales in over 70 countries –5,000 employees R&D Goal: Rapidly create seed products with ever-greater “total economic value” –Increase yield potential –Reduce losses and costs –Increase product value Key:Integration of valuable “traits” into superior, proprietary germplasm Pioneer Today

Translating Strategy into Operational Reality Vision P Performance Metrics Execution P Planning S Strategy Critical Factors for Success Clear & commonly-held vision and strategies Continuity of leadership, funding and staffing Agreement on problem definition and likely root causes Commitment to plan and execute Metrics to measure and track progress