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RECONCILIATION
OF ADJUSTED OPERATING EPS 20142008GAAP EPS from continuing operations3.90
2.28 Add: Significant Items0.01 0.42 Add: Non-Operating Pension & OPEB
Costs / (Credits)0.10 (0.28) Operating EPS (Non-GAAP)4.01 2.42 Less:
Performance Chemicals (a),(b)0.82 0.59 Less: Pharma (c)0.02 0.73 Adjusted
Operating EPS (excluding Performance Chemicals, Pharma) (Non-GAAP)3.17 1.10
(c) Pharma operating earnings assumes a 35% tax rate. (a) Prior periods
reflect the reclassifications of Viton® fluoroelastomers from Performance
Materials to Performance Chemicals. (b) Performance Chemicals operating
earnings assumes a base income tax rate from continuing operations of 19.2%
and 20.4% for 2014 and 2008, respectively. USE OF NON-GAAP MEASURES: This
letter to shareholders contains certain non-GAAP measurements that management
believes are meaningful to investors because they provide insight with
respect to operating results of the company and additional metrics for use in
comparison to competitors. 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 of
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 provided below. RECONCILIATION OF NON-GAAP
MEASURES (UNAUDITED) 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 companys
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 companys
control. Some of the important factors that could cause the companys 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
companys 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. ADDITIONAL INFORMATION AND WHERE TO FIND IT DuPont has filed a
definitive proxy statement with the U.S. Securities and Exchange Commission
(the SEC) with respect to the 2015 Annual Meeting. DUPONT STOCKHOLDERS ARE
STRONGLY ENCOURAGED TO READ THE DEFINITIVE PROXY STATEMENT (INCLUDING ANY
AMENDMENTS AND SUPPLEMENTS), THE ACCOMPANYING WHITE PROXY CARD AND OTHER
DOCUMENTS FILED WITH THE SEC CAREFULLY IN THEIR ENTIRETY BECAUSE THEY CONTAIN
IMPORTANT INFORMATION. DuPont, its directors, executive officers and other
employees may be deemed to be participants in the solicitation of proxies from
DuPont stockholders in connection with the matters to be considered at
DuPonts 2015 Annual Meeting. Information about DuPonts directors and
executive officers is available in DuPonts definitive proxy statement, filed
with the SEC on March 23, 2015, for its 2015 Annual Meeting. To the extent
holdings of DuPonts securities by such directors or executive officers have
changed since the
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