REPORTING & DISCLOSURE TRACKING OUR PROGRESS DOW | REPORTING & DISCLOSURE | 209 Reconciliation of “Net income (loss) available for Dow Inc. common stockholders” to “Operating net income from continuing operations available for Dow Inc. common stockholders” TWELVE MONTHS ENDED DECEMBER 31 In millions (Unaudited) 2021 As Reported 2020 As Reported 2019 Pro Forma Net income (loss) available for Dow Inc. common stockholders (GAAP) $6,311 $1,225 $(1,359) - Income from discontinued operations, net of tax $(459) $(8) $432 + Pro forma adjustments $(459) $(8) $52 Pro forma net income (loss) from continuing operations available for Dow Inc. common stockholders $94 $69 $(1,739) - Significant items, after tax $(459) $(8) $(4,373) Operating net income from continuing operations available for Dow Inc. common stockholders (non-GAAP) $67 $77 $2,634 Reconciliation of Operating return on capital (ROC) TWELVE MONTHS ENDED DECEMBER 31 In millions (Unaudited) 2021 As Reported 2020 As Reported 2019 Pro Forma Operating net income from continuing operations available for Dow Inc. common stockholders (non-GAAP) $6,770 $1,233 $2,634 Net income attributable to noncontrolling interests $94 $69 $74 Gross interest expense $790 $892 $1,013 Imputed interest expense – operating leases $67 $77 $91 Tax on gross interest expense $(211) $(294) $(239) Operating net operating profit from continuing operations after tax (non-GAAP) $7,510 $1,977 $3,573 Average total capital from continuing operations (non-GAAP) $33,481 $32,785 $39,016 Operating return on capital (non-GAAP) 1 22.4% 6.0% 9.2 % 1 This measure of return excluded from income significant items which Dow did not consider part of ongoing operations.