("EQUATE"), The Kuwait Olefins Company K.S.C.C. ("TKOC"), Map Ta Phut Olefins Company Limited ("Map Ta Phut") and Sadara, all joint ventures of the Company. The Company is responsible for marketing a majority of Sadara products outside of the Middle East zone through the Company's established sales channels. As part of this arrangement, the Company purchases and sells Sadara products for a marketing fee. In March 2021, Dow and the Saudi Arabian Oil Company agreed to transition the marketing rights and responsibilities for Sadara’s finished products to levels more consistent with each partner’s equity ownership. This transition began in July 2021 and is being implemented over the next five years. Packaging & Specialty Plastics In millions 2021 2020 2019 Net sales $ 28,128 $ 18,301 $ 20,245 Pro forma net sales $ 20,245 Operating EBIT $ 6,638 $ 2,325 Pro forma Operating EBIT $ 2,904 Equity earnings $ 490 $ 173 $ 162 Packaging & Specialty Plastics Percentage change from prior year 2021 2020 2019 Change in Net Sales from Prior Period due to: Local price & product mix 50 % (11) % (12) % Currency 2 — (1) Volume 2 1 (3) Total 54 % (10) % (16) % Change in Pro Forma Net Sales from Prior Period due to: Local price & product mix (12) % Currency (1) Volume (3) Total (16) % 2021 Versus 2020 Packaging & Specialty Plastics net sales were $28,128 million in 2021, up 54 percent from net sales of $18,301 million in 2020 , with local price up 50 percent, volume up 2 percent and a favorable currency impact of 2 percent, primarily in EMEAI. Local price increased in both businesses and across all geographic regions, driven by tight supply and demand dynamics. Local price increased in Hydrocarbons & Energy as prices for co-products are generally correlated to Brent crude oil prices, which, on average, increased 64 percent compared with 2020. Local price increased in Packaging and Specialty Plastics driven by favorable supply and demand dynamics in polyethylene, notably in industrial and consumer packaging and flexible food and beverage packaging applications. Volume increased in Hydrocarbons & Energy, primarily in the U.S. & Canada and EMEAI, more than offsetting decreased volume in Asia Pacific. Volume decreased in Packaging and Specialty Plastics, primarily in Asia Pacific and Latin America as supply constraints continue to lower exports, more than offsetting an increase in the U.S. & Canada. Operating EBIT was $6,638 million in 2021, up $4,313 million from Operating EBIT of $2,325 million in 2020 . Operating EBIT increased primarily due to integrated margin expansion and increased equity earnings at Sadara and the Thai and Kuwait joint ventures. 42