3Q 2022 Results

PRINCIPAL JOINT VENTURE DETAIL Dow's Proportional Share of Principal JV Financial Results 3Q 2022 3Q 2021 2Q 2022 Kuwait Thai $ millions (unaudited) Sadara JVS JVs Sadara Kuwait Thai JVs Kuwait Thai JVs Sadara JVs JVS EBITDA $27 $92 $15 $186 $187 $54 $156 $178 $41 EBIT $(68) $50 $9 $99 $146 $47 $64 $136 $36 Net Income $(105) $29 $2 $67 $123 $41 $28 $113 $29 Equity Earnings to Dow EBITDA in Excess of $132 $63 $13 $119 $64 $13 $128 $65 $12 Eq. Earnings Net Debt $4,078 $1,772 $256 $4,512 $1,600 $252 $4,198 $1,876 $271 DOW Drivers of JV Performance ■ Sadara: Driven by margin compression in polyurethanes ■ Kuwait JVs: Results impacted by lower MEG pricing ■ Thai JVs: Strength in functional polymers offset by lower demand for ethylene and propylene derivatives 14

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