Dow Inc. · NYSE:DOW
Dow — Morgan Stanley Laguna Conference 2026
8 slides from Dow's conference presentation, Sep 16, 2026
Slide 1: Dow Presents at Morgan Stanley Laguna Conference
Dow Presents at Morgan Stanley Laguna Conference Jeff Tate, Chief Financial Officer September 16, 2026
Slide 2: Macro Environment Remains Dynamic
Macro Environment Remains Dynamic rly 3Q headwinds offsetting recent positive market developments - July polyethylene Americas price settled down (-10cpp) before settling flat in August ~ Monitoring inflation and interest rate impacts on demand - Cautious consumer sentiment and soft building & const
Slide 3: Decisive Actions to Improve Financial Flexibility
Decisive Actions to Improve Financial Flexibility Earnings / > 2 w <= ” el Oo wo _¢ Bs o tp o§ capital structure Op. EBITDA Cash Conversion Net Debt Rating Agency Adjusted Leverage Non-GAAP measures are defined in the appendix YTD26 vs. 2025 #¢«4n» 9% Strengthening both near- and long-term pe: e Del
Slide 4: Transform to Outperform Delivering Benefits
a Transform to Outperform Delivering Benefits ~$200MM ~$500MM ~$700MM ~$2B Organizational Efficiency Performance By Design Commercial Excellence + ~70% of 4,500 Dow role reductions + Completed site transformation playbook = Sample fulfillment times expected to implemented; >$200MM expected in 2H26 a
Slide 5: Building a more competitive company
Building a more competitive company ... | 2 | Focused Growth & Enhanced Portfolio Balanced Capital Innovation Competitiveness Allocation Prioritizing attractive end market growth Investing in and strengthening our Ensuring continued financial strength and winning with our customers world-scale, low-
Slide 6: Slide 6
Slide 7: General Comments and Safe Harbor
S558 SSS SSS SSS SS General Comments and Safe Harbor General Comments Unless otherwise specified. all financial measures in this presentation, where applicable. exclude significant items Trademarks ‘The Dow Diamond, logo and all products. unless otherwise noted, denoted with ™. © or @ are trademarks
Slide 8: Non-GAAP Financial Measures & Definitions
Non-GAAP Financial Measures & Definitions This presentation includes information that does not conform to GAAP and are considered non-GAAP measures. ay erp ler ren lapsed maar eyecare pe i Se eee inclu allocating resources. Dow's management believes that these non-GAAP measures best refiect the ongo