Dow Inc.

Returns to shareholders totaled $249 million of dividends in the quarter.

SEC original ↗Dow Inc. — Earnings release (8-K exhibit)EX-99Oct 23, 2025

This includes a reduction in CapEx spending of $1 billion this year, as well as the accelerated delivery of our previously announced $1 billion in targeted cost reductions by the end of 2026.

SEC original ↗Dow Inc. — Earnings release (8-K exhibit)EX-99Oct 23, 2025

Free Cash Flow is defined as Cash provided by (used for) operating activities - continuing operations, less capital expenditures.

SEC original ↗Dow Inc. — Earnings release (8-K exhibit)EX-99Oct 23, 2025

Our performance demonstrates the strength of Dow s competitive advantages and our disciplined focus on key value drivers within our control.

SEC original ↗Dow Inc. — Earnings release (8-K exhibit)EX-99Oct 23, 2025

We are focused on resilient areas of our portfolio where we can capture share and premiums.

SEC original ↗Dow Inc. — Earnings release (8-K exhibit)EX-99Oct 23, 2025

As we have demonstrated, we are committed to identifying and implementing additional targeted initiatives designed to enhance Dow s earnings and further optimize our cost structure.

SEC original ↗Dow Inc. — Earnings release (8-K exhibit)EX-99Oct 23, 2025

Such statements often address expected future business and financial performance, financial condition, and other matters, and often contain words or phrases such as anticipate, believe, could, estimate, expect, intend, may, opportunity, outlook, plan, project, seek, should, strategy, target, will, will be, will continue, will likely result, would and similar expressions, and variations or negatives of these words or phrases.

SEC original ↗Dow Inc. — Earnings release (8-K exhibit)EX-99Oct 23, 2025

Under this definition, Free Cash Flow represents the cash generated by the Company from operations after investing in its asset base.

SEC original ↗Dow Inc. — Earnings release (8-K exhibit)EX-99Oct 23, 2025

Forward-looking statements are based on current assumptions and expectations of future events that are subject to risks, uncertainties and other factors that are beyond Dow s control, which may cause actual results to differ materially from those projected, anticipated or implied in the forward-looking statements and speak only as of the date the statements were made.

SEC original ↗Dow Inc. — Earnings release (8-K exhibit)EX-99Oct 23, 2025

A detailed discussion of principal risks and uncertainties which may cause actual results and events to differ materially from such forward-looking statements is included in the section titled Risk Factors contained in the Company s Annual Report on Form 10-K for the year ended December 31, 2024, and the Company's subsequent Quarterly Reports on Form 10-Q.

SEC original ↗Dow Inc. — Earnings release (8-K exhibit)EX-99Oct 23, 2025

These are not the only risks and uncertainties that Dow faces.

SEC original ↗Dow Inc. — Earnings release (8-K exhibit)EX-99Oct 23, 2025

There may be other risks and uncertainties that Dow is unable to identify at this time or that Dow does not currently expect to have a material impact on its business.

SEC original ↗Dow Inc. — Earnings release (8-K exhibit)EX-99Oct 23, 2025

If any of those risks or uncertainties develops into an actual event, it could have a material adverse effect on Dow s business.

SEC original ↗Dow Inc. — Earnings release (8-K exhibit)EX-99Oct 23, 2025

Dow does not provide forward-looking GAAP financial measures or a reconciliation of forward-looking non-GAAP financial measures to the most comparable GAAP financial measures on a forward-looking basis because the Company is unable to predict with reasonable certainty the ultimate outcome of pending litigation, unusual gains and losses, foreign currency exchange gains or losses and potential future asset impairments, as well as discrete taxable events, without unreasonable effort.

SEC original ↗Dow Inc. — Earnings release (8-K exhibit)EX-99Oct 23, 2025