Dow — Oct 23, 2025 release

Additionally, we captured resilient demand from our new polyethylene and alkoxylation assets in the U.S. Gulf Coast, delivering sequential volume and earnings growth in key end markets at higher margins. We remain on track to deliver more than $6.5 billion in near-term cash support, with over half already achieved. This includes a reduction in CapEx spending of $1 billion this year, as well as the accelerated delivery of our previously announced $1 billion in targeted cost reductions by the end of 2026. Our performance demonstrates the strength of Dow’s competitive advantages and our disciplined focus on key value drivers within our control.” SEGMENT HIGHLIGHTS Packaging & Specialty Plastics Three Months Ended Sep 30 Three Months Ended Jun 30 In millions 3Q25 3Q24 vs. SQLY [B / (W)] 2Q25 vs. PQ [B / (W)] Net Sales $ 4,891  $ 5,516  $ (625) $ 5,025  $ (134) Operating EBIT $ 199  $ 618  $ (419) $ 71  $ 128  Equity Earnings (Losses) $ (6) $ 16  $ (22) $ 7  $ (13) Packaging & Specialty Plastics segment net sales in the quarter were $4.9 billion, down 11% versus the year-ago period 1 . Local price decreased 10% year-over-year, primarily driven by lower downstream polymer prices. Currency increased net sales by 1%. Volume decreased 1% year-over-year, driven by lower licensing revenue and merchant olefins sales, partly offset by higher polyethylene volumes. On a sequential basis, net sales declined, primarily driven by lower prices for dow