Dow — Jan 29, 2026 release

®™ Trademark of The Dow Chemical Company or an affiliated company of Dow 1 Dow reports fourth quarter 2025 results CEO QUOTE “Dow’s self-help measures continue to gain traction and were evident in our fourth quarter results,” said Jim Fitterling, Dow chair and CEO. “In 2025, we achieved well over half of our more than $6.5 billion in near-term cash and cost support actions, including the accelerated delivery of more than $400 million in cost savings from our $1 billion program. As we move forward, Transform to Outperform represents a comprehensive and radical simplification of our operating model. It aims to deliver step-change productivity across every business and function and growth with our customers. We expect these efforts to provide at least $2 billion in additional near-term earnings while helping Dow set new competitive standards and improve shareholder returns.” SEGMENT HIGHLIGHTS Packaging & Specialty Plastics Three Months Ended Dec 31 Three Months Ended Sep 30 In millions 4Q25 4Q24 vs. SQLY [B / (W)] 3Q25 vs. PQ [B / (W)] Net Sales $ 4,744  $ 5,315  $ (571) $ 4,891  $ (147) Operating EBIT $ 215  $ 447  $ (232) $ 199  $ 16  Equity Earnings (Losses) $ (5) $ (15) $ 10  $ (6) $ 1  Packaging & Specialty Plastics segment net sales in the quarter were $4.7 billion, down 11% versus the year-ago period 1 . Local price decreased 9% year-over-year, primarily driven by lower downstream polymer prices. Currency increased net sales by 1%. Volume decreased 2% year-over-year, driven by lower merchant olefins sales in EMEAI following the idling of one of our crackers in the region earlier in the year. On a sequential basis, net sales declined, primar