Dow Chemical Company Investor Presentation — June 2021

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BERNSTEIN 37THSTRATEGIC DECISIONS CONFERENCE

Jim Fitterling, Chairman and CEO

June 3, 2021UNIQUELY ADVANTAGED TODELIVER EARNINGS GROWTH

Dow is well- positioned to continue creating value for owners and stakeholders

* As of close of business June 2, 2021 Additional EBITDA upside of

~$400 million to $500 million vs.

First Call consensus for 2Q21*

Demand strength across packaging,

electronics, mobility, architectural

coatings and consumer durables

Strong market dynamics, low

inventories, and elevated raw material costs continue to support margin

momentum across our value chains

Projecting top-and bottom- line

growth sequentially in 2Q21 in all

operating segments>$1.5 billion uplift to EBITDA from

incremental growth investments, digitalization investments, and

restructuring initiatives

Incremental expansions expected to

generate ~$1 billion of accretive

Digitalization investments to drive>$300 million annual EBITDA benefit

Previously announced restructuring initiatives expected to deliver annual

run-rate savings of ~$300 millionAbove -GDP growth in addressable

markets and Dow’s industry -leading

performance support higher

Capturing growth in key end- markets

through lower -carbon, more

sustainable offerings and innovative

solutions to address other critical

megatrends, such as electric vehicles, e-commerce, 5G infrastructure

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