UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 June 30, 2023 For the quarterly period ended or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________to__________ State of Commission Exact Name of Registrant as Specified in its Charter, Incorporation or I.R.S. Employer File Number Principal Office Address and ...

Dow Inc. (NYSE:DOW) Q2 2023 Earnings Call Transcript July 25, 2023 8:00 AM ET Company Participants Pankaj Gupta - Investor Relations, Vice President Jim Fitterling - Chairman and Chief Executive Officer Howard Ungerleider - President and Chief Financial Officer Conference Call Participants Vincent Andrews - Morgan Stanley David Begleiter - Deutsche Bank Hassan Ahmed - Alembic Global Advisors Jeff Zekauskas - JPMorgan Mike Sison - Wells Fargo Kevin McCarthy - Vertical Research Partners Frank Mitch - Fermium ...

2Q 2023 RESULTS AGENDA 2Q 2023 • Quarterly Results • Operating Segment Performance R ES U LTS • Outlook • Advancing Long-Term Strategy while Navigating Short-Term Dynamics 2Q 2023 P O ERFORMANCE VERVIEW  Net sales were $11.4B reflecting lower demand and ...

Dow Inc. (NYSE:DOW) Bernstein's 39th Annual Strategic Decisions Conference May 31, 2023 2:30 PM ET Company Participants Jim Fitterling - Chairman and CEO Conference Call Participants Nan Li - Bernstein Nan Li Good afternoon, everyone. I'm Nan Li, the U.S. Chemicals Analyst at Bernstein. Thank you so much for being here today. We're thrilled to have Jim Fitterling, Chairman and CEO of Dow with us for today. And in audience today, we also have Pankaj Gupta, the Head of IR from Dow. Jim was named CEO of Dow ...

D P OW RESENTS AT THE B 39TH S D C ERNSTEIN TRATEGIC ECISIONS ONFERENCE J F , D C CEO IM ITTERLING OW HAIR AND D E E R D E ISCIPLINED XECUTION NABLES ESILIENCY ACROSS YNAMIC NVIRONMENTS Enhanced Financial Performance and Capital Structure Stable Cash Flow from Operations (CFFO) Generation Key Metrics At Spin YE22 Operating EBITDA ($B) $12.4 Operating EBITDA (3-Year Avg.)1 $8.2B $9.1B CFFO ($B) $9.3 $7.3 /W Free Cash Flow (3-Year Cumulative)1 $5.6B $16.2B $5.6 S G N INF HO L Free Cash Flow (TTM) $1.5B $5.7B ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________to__________ | Commission | Exact Name of Registrant as Specified in its Charter, | State of Incorporation or | I.R.S. Employer | | --- | --- ...

Dow Inc. (NYSE:DOW) Q1 2023 Earnings Conference Call April 25, 2023 8:00 AM ET Company Participants Pankaj Gupta - Investor Relations, Vice President Jim Fitterling - Chairman and Chief Executive Officer Howard Ungerleider - President and Chief Financial Officer Conference Call Participants Vincent Andrews - Morgan Stanley Hassan Ahmed - Alembic Global Advisors David Begleiter - Deutsche Bank Steve Byren - Bank of America Jeff Zekauskas - JPMorgan Mike Sison - Wells Fargo John McNulty - BMO Kevin McCarthy - ...

1Q 2023 RESULTS AGENDA 1Q 2023 • Quarterly Results • Operating Segment Performance R ESU LTS • Outlook • Strategy Enables Continued Value Creation 1Q 2023 P O ERFORMANCE VERVIEW ▪ Net sales were $11.9B ...

D P OW RESENTS AT J.P. M I C ORGAN NDUSTRIALS ONFERENCE J F , D C CEO IM ITTERLING OW HAIRMAN AND DECARBONIZE & GROW: PROTECT THE CLIMATE & TRANSFORM THE WASTE Expect to grow capacity and underlying earnings by >$3B/year while reducing CO emissions by ~30%1 by 2030 2 Innovation, Renewable Energy Alberta Net-Zero Terneuzen 2030 Transform the Waste & Efficiency Scope 1 & 2 CO Emissions Site Reduced CO Emissions Site 2 2 2022 ✓Achieved ✓Achieved →In progress Valoregenhybrid recycling site in Secured >900MW of ...

Summary of Dow Inc. Conference Call Company Overview - **Company**: Dow Inc. (NYSE:DOW) - **Event**: JPMorgan 2023 Industrials Conference - **Date**: March 14, 2023 - **Participants**: - Jim Fitterling - Chairman and CEO - Pankaj Gupta - IR, VP - Jeff Zekauskas - Analyst for chemicals at JPMorgan Key Points Industry and Market Trends - **Decarbonization Strategy**: Dow is advancing its decarbonizing growth strategy, aiming to grow underlying EBITDA by **$3 billion** while reducing Scope 1 and 2 CO2 emissions by **30% by 2030** compared to 2005 levels [5][4] - **Market Dynamics**: The macroeconomic backdrop is mixed, with resilient consumer spending in the U.S. but declining durable goods orders. In Europe, manufacturing PMI is at **48.5**, indicating contraction, while China's manufacturing PMI has improved to **51.6**, signaling expansion [8][9][11] - **Demand Variability**: Demand remains strong in agricultural, pharma, and energy sectors, but is under pressure in consumer durables and construction markets [11] Financial Performance and Projections - **EBITDA Variability**: Historical EBITDA has shown significant variability, with projections of **$12 billion**, **$9 billion**, and **$6 billion** in different years [14] - **Cost Management**: Dow is implementing **$1 billion** in cost savings actions to maintain a low-cost operating model and maximize cash flow [12] - **Capital Allocation**: The company plans to return **65%** of operating net income to shareholders across economic cycles [7] Growth Initiatives - **Joint Development Agreement**: Dow has partnered with X-energy to install the first grid-scale advanced nuclear reactor for an industrial site in North America, which will provide low-carbon power [5] - **Alberta Project**: The Alberta path to zero project aims to decarbonize **20%** of Dow's global ethylene capacity and triple polymer capacity at the Alberta site [6][7] - **Investment Focus**: Dow is prioritizing organic growth investments and is cautious about M&A opportunities, focusing on compelling value propositions [24][25] Shareholder Value and Dividends - **Dividend Strategy**: The dividend has remained flat as the company focused on strengthening its balance sheet. The board aims to grow the dividend in the long term as investments yield returns [28][29] - **Share Buybacks**: Dow has been active in share buybacks to reduce share count and enhance shareholder value [20] Long-term Outlook - **Natural Gas Advantage**: Dow benefits from low energy costs in the U.S., which is critical for maintaining competitiveness in manufacturing [42][44] - **China's Market Dynamics**: The company anticipates changes in China's growth strategy, focusing more on value rather than just domestic supply [55][56] Risks and Challenges - **Inflation and Economic Pressures**: Ongoing inflation and potential recessionary pressures could impact demand and pricing [8][12] - **Regulatory Environment**: M&A opportunities are viewed cautiously due to regulatory challenges and market conditions [25][33] Conclusion - Dow Inc. is strategically positioned to leverage its decarbonization initiatives and strong balance sheet to navigate current market challenges while focusing on long-term growth and shareholder value creation [13][18]