Stockholder Return The chart below illustrates the cumulative total return to Dow stockholders following the spin of Dow Inc. from DowDuPont on April 1, 2019. It depicts a hypothetical $100 investment in Dow common stock on April 1, 2019, and shows the value of that investment over time (assuming the reinvestment of dividends) until December 31, 2021. Hypothetical investments of $100 in the Standard & Poor’s (“S&P”) 500 Stock Index and the S&P 500 Chemicals Index are shown for comparison. Mar. 20, 2019 - Dec. 31, 2021 Cumulative Total Return - When Issued Trading Apr. 1, 2019 - Dec. 31, 2021 Cumulative Total Return - Regular Way Trading Do w Inc. S& P 500 S& P 500 Chemicals 03 /20/19 12 /31/19 12 /31/20 12 /31/21 $9 0 $1 00 $1 10 $1 20 $1 30 $1 40 $1 50 $1 60 $1 70 $1 80 $1 90 Do w Inc. S& P 500 S& P 500 Chemicals 04 /01/19 12 /31/19 12 /31/20 12 /31/21 $9 0 $1 00 $1 10 $1 20 $1 30 $1 40 $1 50 $1 60 $1 70 $1 80 $1 90 Dow S&P 500 S&P 500 Chemicals Dow S&P 500 S&P 500 Chemicals March 20, 2019 $100 $100 $100 April 1, 2019 $100 $100 $100 December 31, 2019 $115 $116 $112 December 31, 2019 $107 $114 $111 December 31, 2020 $124 $138 $132 December 31, 2020 $115 $135 $131 December 31, 2021 $132 $177 $167 December 31, 2021 $123 $174 $165 The form of the chart presented above is in accordance with requirements of the U.S. Securities and Exchange Commission. Stockholders are cautioned against drawing any conclusions from the data contained therein, as past results are not necessarily indicative of future performance. This does not reflect the Company’s forecast of future financial performance. The S&P500 Chemicals Index includes producers of industrial gases and commodity, diversified, fertilizers, agricultural, and specialty chemicals. As of January 2022, the Index included Air Products and Chemicals Inc., Albemarle Corporation, Celanese Corporation, CF Industries Holdings Inc., Corteva Inc., Dow Inc., DuPont de Nemours Inc., Eastman Chemical Company, Ecolab Inc., FMC Corporation, International Flavors & Fragrances Inc., Linde PLC, LyondellBasell Industries, Mosaic Company, PPG Industries Inc., and Sherwin-Williams Company.