3Q 2022 Results

ADVANCING OUR “DECARBONIZE & GROW" STRATEGY Improving Underlying Earnings by ~$300-400MM¹ in 2022 Near-Term Growth Levers ■ P&SP: 4Q22 FCDh start-up on-track Efficiency Levers Growing Annual Underlying Earnings by >$3B by 2030, while Reducing CO2 Emissions by ~30%² ■ II&I: U.S. Alkoxylation project started-up in 3Q22; EU project to start-up in 4Q22 Restructuring: $300MM achieved YE21 EBITDA Growth¹ Efficiency Levers ~$0.6B Near-Term Growth Investments ~$2B Alberta Project ~$1B ■ Digitalization: $300MM by YE25 Renewables, Asset EU/Americas ■ PM&C: Asset debottlenecks Path2Zero (emissions reduction) Alberta Project Optimization and Efficiency Emission Reductions >2MM mta/yr >1.5MM mta/yr >1MM mta/yr Investments Capitalize on Fast-Growing Demand for Sustainable and Circular Innovations PV Elastomer ENGAGE™ DOWSIL™ Flexible Technology for Silicone Solar Adhesive ECOFAST™ Pure SILASTIC™ Sustainable Self-Sealing Textile Treatment Silicone Maintaining our Disciplined Capital Allocation Priorities over the Economic Cycle Safely and reliably run our operations Organic investments with CapEx ≤ D&A and ROIC >13% Strong investment-grade credit profile of 2.0x - 2.5x rating agency adj. debt-to-EBITDA Dividend policy targeting ~45% of operating net income Share repurchases with dividend to meet ~65% of operating net income; covering dilution Maintaining a disciplined and balanced approach to capital allocation 1) EBITDA/year run-rate estimated based on Dow and IHS historical margins and operating rate of 90% 2) Versus 2005 baseline DOW 8

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