3Q 2022 Results

4Q22 MODELING GUIDANCE Maintaining Operational Discipline in Dynamic Macroeconomic Environment Net Sales Quarterly Operational Tax Rate Net Income Attrib. to Non-Controlling Int. Top-Line Ranges (4Q22 vs. 3Q22) Sales % A QoQ Low High ~$11.5 - $12.0B Depreciation & Amortization ~$675MM ~29-33% ~$25MM Net Interest Expense (Net of Int. Income) Average Share Count ~$125MM ~715MM Base Case Op. EBIT Drivers (4Q22 vs. 3Q22) Packaging & -15% -10% Specialty Plastics Industrial Intermediates & -10% -5% Infrastructure Performance -15% -10% Materials & Coatings Corporate ■ Stable demand for consumables and food packaging, particularly in U.S. & Canada ■ Energy/feedstock volatility impacting consumer spending, primarily in Europe; demand seasonality (~$200MM headwind) ■ Lower planned maintenance activity (~$50MM tailwind) ■ Seasonal increase in deicing fluid demand; inflation impacting durable and construction demand, particularly in Europe Propylene oxide and MEG margins impacted by increased supply from Asia (~$25MM headwind) ■ Lower planned maintenance activity (~$25MM tailwind) ■ Resilient demand for mobility and personal care applications; seasonality impacting demand for coatings ■ Increased industry siloxane supply in China and Asian acrylic monomer exports pressuring margins ($275MM headwind) ■Lower planned maintenance activity (~$25MM tailwind) Sales of $50MM ■ Op. EBIT of $(75) MM and Op. EBITDA of $(65)MM DOW 6

View entire presentation