Eastman Chemical — Jul 30, 2026 release

• Delivered strong sequential EPS growth and solid cash flow in a dynamic environment through commercial and operational excellence • Drove a 350-basis-point sequential adjusted EBIT margin improvement through 8% higher sales volume/mix and disciplined price-cost management in Advanced Materials and Additives & Functional Products and spread expansion in Chemical Intermediates • Continued to leverage our significant and advantaged integrated U.S.-based assets to be a reliable supplier to our customers amid an uncertain global environment • Building strategic momentum in the circular platform, doubled revenue in the first half of the year and continued great operational performance • Made substantial progress toward delivering $125 million to $150 million of cost savings, net of inflation • Remained focused on delivering solid operating cash flow and expect to release working capital in the second half of 2026 (In millions, except per share amounts; unaudited) 2Q2026 2Q2025 Sales revenue $2,513 $2,287 Earnings before interest and taxes ("EBIT") 311 222 Adjusted EBIT* 320 275 Earnings per diluted share 1.59 1.20 Adjusted earnings per diluted share* 1.97 1.60 Net cash provided by operating activities 224 233 *For non-core and unusual items excluded from adjusted earnings and for adjusted provision for income taxes, segment adjusted EBIT margins, and net debt, reconciliations to reported company and segment earnings and total borrowings for all periods presented in this release, see Tables 3A , 3B , 4A , and 6 . "The Eastman team delivered a strong second quarter despite continued dynamic macroeconomic conditions," said Mark Costa, Board Chair and CEO. "Sales revenue increased 15 percent sequentially driven by strong volume growth across the company and disciplined price-cost management in our specialty businesses. We also delivered strong spread expansion and volume/mix improvement in Chemical Intermediates. These actions resulted in a 350-basis-point sequential increase in our EBIT margin. We also continued to successfully manage the impact of the conflict in the Middle East and secured