Slide 1: Dow Presents at the Citi 2023 Basic Materials Conference
DOW PRESENTS AT THE CITI 2023 BASIC MATERIALS CONFERENCE JIM FITTERLING, DOW CHAIR AND CEO November 28, 2023
Slide 2: Proactively Navigating Dynamic Market Conditions
PROACTIVELY NAVIGATING DYNAMIC MARKET CONDITIONS Maintaining operational discipline as outlook remains challenging and 4Q impacted by seasonal demand declines Expect net sales at the mid-point of the ~$10.0-10.5B range NAA LAA EMEAI China Rest of Earnings outlook remains in line with modeling consid
Slide 3: Our Growth and Sustainability Roadmap to 2030
OUR GROWTH AND SUSTAINABILITY ROADMAP TO 2030 Decarbonize and Grow Transform the Waste Grow underlying earnings by ~$3B/year, while reducing GHG emissions by Disciplined organic Commercialize 3MM mta of ~5MM mta by 20301 circular & renewable solutions growth investments Near-Term Growth and ✓ Succes
Slide 4: Alberta Path2Zero Builds on TX-9's World-Class Performance
ALBERTA PATH2ZERO BUILDS ON TX-9’S WORLD-CLASS PERFORMANCE Alberta Project Enhances Our Cost-Advantaged TX-9 is Delivering Attractive Returns and Footprint and Adds Zero-Emissions Capacity Best-in-Class Emissions 4 Dow’s Ethylene Footprint in the Americas Industry Cash Cost ($/mt) TX-9 Global Feedst
Slide 5: Alberta Path2Zero: A Strategic Investment with Key Value Drivers
ALBERTA PATH2ZERO: A STRATEGIC INVESTMENT WITH KEY VALUE DRIVERS Best-in-Class Engineering and Upside Potential from Higher-Value, The Alberta Feedstock Advantage Construction Approach Sustainable Offerings ▪ Ample natural gas in Canada at a discount to USGC ▪ Lower capital intensity vs. TX-9 includ
Slide 6: Advancing Progress on Alberta Path2Zero
ADVANCING PROGRESS ON ALBERTA PATH2ZERO World’s First Cracker & Derivatives Complex with Net-Zero CO2 Emissions Alberta Net-Zero Scope 1 & 2 Emissions Site ▪ Global ethylene and PE demand continues to grow at ~1.2 – 1.4X GDP with no new ethylene capacity coming online in cost-advantaged North Americ
Slide 7: Financial and Operational Discipline Enables Value Capture
FINANCIAL AND OPERATIONAL DISCIPLINE ENABLES VALUE CAPTURE Extending our Low-Cost-to-Serve Advantages Further Enhancing our Financial Position 2Q23 Cash & Cash Revolver ▪ Reduced net debt and pension liabilities by Equivalents >$10B since Spin 1Q23 ~$13B ▪ No substantive debt maturities due until 20
Slide 8: Well-Positioned to Continue to Drive Shareholder Value
WELL-POSITIONED TO CONTINUE TO DRIVE SHAREHOLDER VALUE Enhanced Financial Performance and Capital Structure Distinct Competitive Advantages Drive Long-Term Value Key Metrics At Spin 3Q23 ▪ Global Scale and Leading Positions in key value chains Operating EBITDA (3-Year Avg.)1 $8.2B $9.2B ▪ Diverse En
Slide 9: Safe Harbor
SAFE HARBOR Cautionary Statement about Forward-Looking Statements Certain statements in this presentation are “forward-looking statements” within the meaning of the federal securities laws, including Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Ac
Slide 10: Non-GAAP Financial Measures & Definitions
NON-GAAP FINANCIAL MEASURES & DEFINITIONS Non-GAAP Financial Measures This presentation includes information that does not conform to GAAP and are considered non-GAAP measures. Management uses these measures internally for planning, forecasting and evaluating the performance of the Company's segment
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