video – app features

video – app features. DOW CONFIDENTIAL - Do not share without permission.

video – app features. DOW CONFIDENTIAL - Do not share without permission.

3.

video – app features. DOW CONFIDENTIAL - Do not share without permission.

video – app features. DOW CONFIDENTIAL - Do not share without permission.

video – app features. DOW CONFIDENTIAL - Do not share without permission.

video – app features. DOW CONFIDENTIAL - Do not share without permission.

video – app features. DOW CONFIDENTIAL - Do not share without permission.

video – app features. DOW CONFIDENTIAL - Do not share without permission.

video – app features. DOW CONFIDENTIAL - Do not share without permission.

video – app features. DOW CONFIDENTIAL - Do not share without permission.

video – app features. DOW CONFIDENTIAL - Do not share without permission.

video – app features. DOW CONFIDENTIAL - Do not share without permission.

14.

[Audio] Delete – after solutions. video – app features.

[Audio] Ignacio: Dow Consumer Solutions delivered probably the second best quarter in the history of Consumer Solutions after we hit a record high in the first quarter of this year. We delivered both the revenue growth and margin expansion in a very dynamic quarter. Our revenue was almost 1.9 billion dollars, an increase of 29%, over 419 million dollars versus the same period last year. Price was favorable ( +36%), volume was down 3%, and currency was also unfavorable, 4%. If we review business by business, we can see that Feedstocks and Intermediates posted volume growth, with 6% going up in F&I driven by additional supply availability, and prices went up 64% versus prior year. Again, phenomenal job from the team managing costs and inflation, and expanding margins in a very volatile environment. In our Specialty Business, volume came down 7% versus same quarter last year, mostly driven by supply constraints and the COVID lockdown situation we had in China. But prices went up 22% in our G3 business. Again, a very excellent proof point of the team effort that, you know, to fight inflation in this environment. With all that, we posted EBIT of $ 473 million dollars, an increase of 167%, almost $ 300 million dollars and our EBIT margins, they moved from 12% last year, to 25% this year..

[Audio] Ignacio: And then, let me, let me review quickly where we are year to date. You know, the first half of the year, as we mentioned, was outstanding on both revenue and EBIT. We are well above our plan and above prior year. But if we may start now moving into working capital, we have seen an increase, especially on the inventory side and DSI side. But again, big shout-out to our supply chain team dealing with a very challenging situation from a supply chain perspective, with concerns about the marine packed cargo. Improving the demand accuracy and trying to avoid building unnecessary inventory in this inflationary inventory. And again, longer transit times arises from this, you know, supply situation around the globe. We are also trending up expenses as you can see on the slide, and this is driven by our own growth and by inflation. We have inflation in every cost element in our business. We have it in power, in utilities, in contract manufacturing, contract labor. We continued investing more resources in reliability and growth. As we move into the 2H we need to reduce our discretionary spending while preserving our ability to grow the business..

[Audio] Ignacio: And moving on to the last slide, to a very important in terms of outlook and priorities. We have our two largest turnarounds in the second half of the year. Very important that we do it safely and reliably, and on time and on budget. And we are in a very uncertain environment in this second half of the year. You can see and hear and listen to the news, very mixed signals. On one side, we have entered high interest rates, high inflation. On the other hand, employment is very high and we see our demand in Specialty Products is still very, very solid around the world. So, very important in this uncertain environment is that we adapt our operating rates, our working capital, and our spending to the new market dynamics. It's very important that we do that in the second half of the year. I want to say thank you to everyone for an outstanding first half of the year. Looking forward to working with all of you in the second half, and with that, I would like to introduce the regional highlights..

[Audio] Mauro: There are several examples on the screen here that talk about our progress. Breakthrough innovation. You saw some from the video that just came a minute ago, but what we're delivering in the self-sealing tires is a huge development. I hope you saw that we advertise that on social media. Also on the Formula E. It's a great development that with one customer that you know, go to the entire industry, that it shows the power of innovation. There is also a sustainability angle to it. Industry participation acceleration. We could talk about the solar panels in the PV. We can provide almost every element to make the panels better, to make solar better and we'll continue to dedicate ourselves to sustainability on that one. Geographic expansion: We're looking at digital in India. We are just launching what's called the Master Connect initiative, which is basically a digital way to buy from Dow and connect with the vast array of distributors and people in country that can help our products flow through India. Bolt-on M&A: We're working on some small transactions to get the bolt-on M&A, to get what we need to complement and grow portfolio. You can take something that is very valuable from one small company in Building and Infrastructure that we can leverage across automotive, electronics and other markets. We can really quickly, grow through these small transactions that we're looking at, at the moment. External partnership: We also saw probably every two or three months, Eric and his team and all the marketing group coming together with new ideas on bio-derived raw materials. More sustainable options for the Personal Care industry, particularly, but also Home Care, with some of the biodegradable efforts that we have going on in the company. There is a lot going on. Digital tools: You probably saw the Building Science Connect. If you go to dow.com website, you will find everything that we offer in our portfolio to that industry. There is a lot of work ongoing in each one of those seven elements for growth that we have in the middle of our growth journey. We are also dedicated to the six markets that we chose to participate. We could be participating in even more markets, but strategy is also deciding what you're not doing. I think we decided these six markets as our strategi focus. We're implementing our strategy and results are showing. Thanks to all of the great work from all of you..

video – app features. DOW CONFIDENTIAL - Do not share without permission.

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