3Q 2022 Results

RECONCILIATION OF NET INCOME TO OPERATING EBIT & OPERATING EBITDA Reconciliation of "Net income" to "Operating EBIT" and "Operating EBITDA" In millions (Unaudited) Net income + Provision for income taxes Income before income taxes Interest income + Interest expense and amortization of debt discount - Significant items Operating EBIT 1 +Depreciation and amortization Operating EBITDA 2 Operating EBITDA - trailing twelve months ("TTM") basis Three Months Ended Nine Months Ended Dec 31, 2020 $ Sep 30, 2021 1,254 $ 1,706 $ Dec 31, 2021 Mar 31, 2022 1,761 $ Jun 30, 2022 1,552 $ Sep 30, 2022 1,681 $ 760 Sep 30, 2022 Sep 30, 2021 $ 3,993 $ 4,644 562 $ 1,816 $ 542 2,248 $ 357 2,118 $ 503 2,055 $ 488 241 1,232 1,383 2,169 $ 1,001 $ 5,225 $ 6,027 11 14 20 28 36 41 105 35 210 178 170 167 165 155 487 561 961 (474) 3 (225) (77) (80) (382) (715) $ 1,054 $ 2,886 $ 2,265 $ 2,419 $ 2,375 $ 1,195 $ 5,989 $ 7,268 726 725 $ $ 1,780 $ 5,589 $ 3,611 $ 655 2,920 $ 752 3,171 $ 684 3,059 $ 668 1,863 $ 2,104 2,187 8,093 $ 9,455 11,235 $ 12,375 $ 13,275 $ 12,761 $ 11,013 1. Operating EBIT is defined as earnings (i.e., "Income before income taxes") before interest, excluding the impact of significant items. 2. Operating EBITDA is defined as earnings (i.e., "Income before income taxes") before interest, depreciation and amortization, excluding the impact of significant items. Reconciliation of "Loss from Continuing Operations, net of tax" to "Pro Forma Operating EBIT" and "Pro Forma Operating EBITDA" Twelve Months Ended In millions (Unaudited) Loss from continuing operations, net of tax + Provision for income taxes on continuing operations Loss from continuing operations before income taxes - Interest income + Interest expense and amortization of debt discount + Pro forma adjustments - Significant items Pro forma Operating EBIT 1 Dec 31, 2019 $ (1,717) 470 $ (1,247) 81 933 65 (4,682) $ 4,352 + Pro forma depreciation and amortization 2,938 Pro forma Operating EBITDA2 $ 7,290 1. Pro forma Operating EBIT is defined as earnings (i.e., "Loss from continuing operations before income taxes") before interest, plus pro forma adjustments, excluding the impact of significant items. 2. Pro forma Operating EBITDA is defined as earnings (i.e., "Loss from continuing operations before income taxes") before interest, depreciation and amortization, plus pro forma adjustments, excluding the impact of significant items. DOW 18

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