Dow — Jul 24, 2025 release

We are also focused on improving margins and optimizing our global portfolio in the face of continued weak macroeconomic conditions, as evidenced by our recent European portfolio actions,” said Jim Fitterling, Dow chair and CEO. “We are also adjusting our dividend to ensure we maintain a balanced capital allocation framework. We remain committed to targeting a competitive dividend across the economic cycle. The actions we are taking provide additional financial flexibility to help guarantee we maximize shareholder value, both in the current environment and as the industry recovers.” SUMMARY FINANCIAL RESULTS Three Months Ended Jun 30 Three Months Ended Mar 31 In millions, except per share amounts 2Q25 2Q24 vs. SQLY [B / (W)] 1Q25 vs. PQ [B / (W)] Net Sales $ 10,104  $ 10,915  $ (811) $ 10,431  $ (327) GAAP Income (Loss), Net of Tax $ (801) $ 458  $ (1,259) $ (290) $ (511) Operating EBIT 1 $ (21) $ 819  $ (840) $ 230  $ (251) Operating EBITDA 1 $ 703  $ 1,501  $ (798) $ 944  $ (241) GAAP Earnings (Loss) Per Share $ (1.18) $ 0.62  $ (1.80) $ (0.44) $ (0.74) Operating Earnings Per Share 1 $ (0.42) $ 0.68  $ (1.10) $ 0.02  $ (0.44) Cash Provided by (Used for) Operating Activities - Cont. Ops $ (470) $ 832  $ (1,302) $ 104  $ (574) 1. Op. Earnings Per Share, Op. EBIT, Op. EBIT Margin and Op. EBITDA, Free Cash Flow and Cash Flow Conversion are non-GAAP measures. See page 6 for further discussion. ®TM Trademark of The Dow Chemical Company or an affiliated company of Dow      1 Dow reports second quarter 2025 results SEGMENT HIGHLIGHTS Packaging & Specialty Plastics Three Months Ended Jun 3