Christopher Parkinson
Wolfe Research, LLC

All right. I think we'll get started. Next up, I'm very proud to have today, FMC Corporation, ticker FMC, based in Philadelphia, Pennsylvania, my hometown, very proud. Today, we have Pierre Brondeau, the CEO; as well as Andrew Sandifer, our CFO. I'm proud to know these gentlemen for almost 15 years. Been through a lot. So looking forward to the presentation here today.

Christopher Parkinson
Wolfe Research, LLC

Pierre and Andrew, perhaps we could just pull a very quick audible and I went out of my way to make sure your partner did not speak about it in the prior presentation, but you did sign a $200 million deal for an exciting AI molecule in the next few years. Perhaps we could just start the presentation by highlighting that agreement, what it means to you, both short-term and long-term balance sheet and commercial optionality.

Pierre Brondeau
President, CEO & Non-Executive Chairman of the Board

Yes. Thanks, Chris. Good to be here. As you know, we said we would license a molecule to a partner who would be the best potential partner for that molecule. And Corteva is the partner with whom we wanted to work, it's a great molecule. It's a dual mode of action, multiple applications in multiple crops, but certainly soybean and corn are the crops, which are the first target. The benefit of this deal is twofold. First of all, for us and the current situation we're in, $200 million is part of the debt reduction process we have in place. As you know, we've said we're going to be attempting