7 2021 | Dow Annual Report CEO Letter Corporate Governance 2021 Highlights Overview & Financial Highlights 2021 Financial and ESG Performance Highlights Financial Performance Environmental Performance Announced plan to build world’s first net-zero carbon emissions ethylene and derivatives complex in Ft. Saskatchewan, Alberta, while tripling the site’s ethylene and derivatives capacity >80% of Dow products now sold into packaging applications are reusable or recyclable Achieved sales and supply partnerships of post-consumer recycled resins in every geography Clear path to reduce carbon emissions 30% by 2030, from 2005 levels Introduced one of the first bio-based, high-performance polyolefin elastomers Terneuzen, The Netherlands: Announced roadmap to reduce CO 2 emissions by >40% by 2030 1 1 Baseline year is 2020. Delivered record operating EBIT of $9.5B and net sales of $55B Returned >$3B to shareholders through dividends and share repurchases Reduced net interest expense by >$100MM YOY Decreased gross debt by $2.4B and reprofiled Sadara debt, lowering Dow guarantees by >$2B CapEx was $1.5B as we continue to prioritize higher- return, faster-payback, lower-risk growth projects Generated $7.1B of cash flow from operations Expanded access to renewable power to >850 MW , with ~25% of purchased electricity from renewable sources As one the world’s largest materials science companies, we have a unique opportunity to contribute to sustainable solutions for people and planet. Guided by our purpose and fueled by the passion of Team Dow, we are focused on creating shared value for all our stakeholders and to blend science and ingenuity to bring life-enhancing products and solutions to everyone, everywhere. As such, our environmental, social and governance strategy is key to creating long-term value for our company, society and shareholders. and ROIC reached 22%