DOW | 2021 ESG REPORT | 79 CORPORATE GOVERNANCE INSTRUMENTAL TO ACCOUNTABILITY MEET OUR INDEPENDENT LEAD DIRECTOR We also committed to Board independent leadership and have a strong independent lead director with clearly defined responsibilities. This structure provides effective leadership, management accountability and alignment with long-term interests of stockholders. In 2021, Richard K. Davis was appointed lead director of Dow’s Board. Davis brings a deep familiarity of Dow, its Board and its committee structure to the role, along with a strong rapport with other Board members. He also brings global business and leadership experiences as a former chairman and chief executive officer of a public company, U.S. Bancorp, and is particularly knowledgeable about industries subject to extensive regulation, including risk management. In addition, he has extensive experience and knowledge of international business operations, financial services and capital allocation, which is particularly important given the global presence and financial aspects of Dow. Davis is currently president and chief executive officer of Make-A-Wish America. In addition to his tenure with Dow’s Board, Davis has served on the boards of multiple public companies and brings significant experience and expertise in corporate governance, compensation, finance and board leadership. RICHARD K. DAVIS Lead Director, Dow President and Chief Executive Officer, Make-A-Wish America Q&A With Richard Davis We talked with our lead director to learn Richard’s perspectives about how strong governance helps drive value today and tomorrow for Dow and its stakeholders. Q: From your perspective as lead director, what qualifications and skills are crucial for an effective board? RD: First, a most effective board is one of diverse thought and diverse backgrounds, and the Dow Board represents that perfectly. We also continually review and assess the talent on the Board to ensure we have the critical experience we need represented. As a result, we regularly bring on new directors, adding fresh viewpoints and important skill sets, like expertise in large capital projects, risk management, ESG matters and global finance. Each director brings unique experiences to the table and gives us an outside-in view of the organization and insights into the different perspectives of our stakeholders. Q: As chair of the Audit Committee, in your view, what elements are essential to effective and strong corporate governance? RD: The primary role of the Audit Committee is to oversee the quality of the performance of the organization and then the quality of reporting about that performance. Our reporting needs to be clear and transparent to our stakeholders so they can understand not just what we’re doing, but also how we’re doing it. We need to make certain our stakeholders have confidence that we’re properly managing risks, like climate change and cybersecurity, and that we have the right internal controls in place to ensure reliability and integrity of our reporting and disclosures. We also continually evaluate and improve. For example, we recently enhanced our ESG reporting and disclosures through improved carbon emissions and circularity reporting, and improved climate risk disclosures and greenhouse gas intensity metrics. Q: What is the role of the Board in ensuring Dow has the right business strategy in place to create long-term value for our stockholders? RD: As a director at Dow, one of our more important responsibilities is to evaluate the performance of the company right now to ensure that we’re doing all that we can to be the great company we promised to be. The other responsibility is strategic. We look ahead to ensure we’re making the decisions and putting plans in place to be even stronger five or 10 years from now. Then we need to convey our strategy clearly to our stakeholders, including our stockholders, so they can be excited about not just the company they own today but the one that they will own in the future. For example, we recently shared our planned pathway to reducing carbon and greenhouse gas emissions while growing the company, which will continue creating strong value for all our stakeholders.