Dow — Jan 30, 2025 release

®™ Trademark of The Dow Chemical Company or an affiliated company of Dow 1 Dow reports fourth quarter 2024 results CEO QUOTE Jim Fitterling, chair and chief executive officer, commented on the quarter: "Despite persistently weak macroeconomic conditions, Team Dow delivered our fifth consecutive quarter of year-over-year volume growth, leveraging our cost-advantaged footprint to capture resilient demand for high-value applications. In December, we signed a definitive agreement for the sale of a minority stake in select U.S. Gulf Coast infrastructure assets for expected cash proceeds of up to approximately $3 billion. The partnership represents a new business model designed to drive operational efficiencies and growth with new customers, while providing near-term financial flexibility. We also announced a strategic review of select European assets, and today we are announcing additional actions to deliver $1 billion of targeted cost reductions. These collective actions represent a continuation of Dow’s commitment to maintaining our strong financial foundation and supplementing near-term cash flow.” SEGMENT HIGHLIGHTS Packaging & Specialty Plastics Three Months Ended Dec 31 Three Months Ended Sep 30 In millions, except margin percentages 4Q24 4Q23 vs. SQLY [B / (W)] 3Q24 vs. PQ [B / (W)] Net Sales $ 5,315  $ 5,641  $ (326) $ 5,516  $ (201) Operating EBIT $ 447  $ 664  $ (217) $ 618  $ (171) Operating EBIT Margin 8.4  % 11.8  % (340) bps 11.2  % (280) bps Equity Earnings (Losses) $ (15) $ 40  $ (55) $ 16  $ (31) Packaging & Specialty Plastics segment net sales in the quarter were $5.3 billion, down 6% versus the year-ago period. Local price decreased 5% year-over-year, primarily driven by lower functional polymers and polyethylene prices. Segment volume was down 1% year-over-year, as polyethylen