REPORTING & DISCLOSURE TRACKING OUR PROGRESS DOW | REPORTING & DISCLOSURE | 185 Dow Disclosures – TCFD Disclosure Report Throughout the year and at every Board meeting, the Board receives information and updates from management and actively engages with senior leaders with respect to management’s execution of the corporate and business plans as well as progress on ESG priorities including economic, environmental and social topics. The Board and management review the company ’s short- and long-term strategic priorities throughout the year and dedicate time at each Board meeting for appropriate discussion. Risk management is considered a strategic priority for the company , and responsibility for managing risk rests with executive management, while the Committees, and the Board as a whole, provide oversight. The ERM approach and process are overseen by the Audit Committee and reviewed at least annually with key risks regularly evaluated at meetings of the Committees and Board, including risks with economic, environmental and social impacts. Describe management’s role in assessing and managing climate-related risks and opportunities. Climate Management Structure See GRI 102-20 Executive-level responsibilities for economic, environmental and social topics. To manage the implementation of Dow’s Climate Strategy, Dow has established a Climate Program Management Office (Climate PMO). The team is led by the Climate Steering Team (CST), which sets strategy and oversees the activities related to assessing and managing climate-related risks and opportunities. The CST consists of executive business and functional leaders who report to either the CEO or CFO. The CST is facilitated by the global climate transition director, who also facilitates the Climate PMO. The Climate PMO is composed of business and functional leaders from across the company . The Climate PMO has a series of sub-teams responsible for assessing and managing climate related risks and opportunities, including reducing Scope 1, 2 and 3 emissions; improving metric tracking and reporting; developing products, technologies and business models to address customers’ climate-related needs; and developing and executing actions to deliver committed targets. Each sub-team is sponsored by two or more members of the CST, who are accountable for the team’s success. The Climate PMO is tasked with setting goals and targets, prioritizing actions, monitoring progress of sub-teams and ensuring alignment of cross-team objectives. Both the CST and Climate PMO meet at least every six weeks and report to the ELT at a minimum of once per quarter. Climate PMO sub-teams meet more frequently as required to drive actions and progress toward project targets. Category Strategy: Disclose the actual and potential impacts of climate-related risks and opportunities on the organization’s businesses, strategy and financial planning Describe the climate-related risks and opportunities the organization has identified over the short, medium and long term. See also: GRI 201-2 Financial implications and other risks and opportunities due to climate change Addressing climate-related risks now, and in the future Addressing climate-related risks and opportunities is part of Dow’s overall climate strategy. In 2020, the company announced commitments to reduce its net annual greenhouse gas emissions by an additional 5 million metric tons by 2030 versus our 2020 baseline, a 15% reduction (the 2020 baseline represents a 15% reduction in greenhouse gas emissions since 2005). Dow also announced its intention to be carbon neutral by 2050 (Scopes 1+2+3, as defined by the Greenhouse Gas Protocol Corporate Accounting and Reporting Standard, plus product benefits). Despite these commitments, climate change-related risks and uncertainties, legal or regulatory responses to climate change, and failure to meet our climate change commitments could negatively impact Dow’s operations, financial condition and/or reputation. Climate-related risks include both physical and transition risks.