Chemical

Keys

Trends

Huge Industry most profitable Oil & Gas

• 400 mMT of plastics by industry

• North Am 8% growth, double digits in APAC, RoW

• But Plastics is Sustainable packaging

• Huge value to fresh foods - extends life 2-3 weeks vs normal paper/cardboard

• Most growing market in packaging

• Strong and light vs Glass/Aluminium - less shipping cost, overall lower CO2 footprint

• Plastics more durable than wood, much cheapter

Plastics Waste Environmental Impact

• Plastic Sea - millenials may hate it ..
• But Plastics sustainable packaging
• Most growing market in packaging

400 mMT of plastics by industry - 8 mMT ends up as Waste problem - often - Chemical councils

Plastics Makers

DOW - spun out by 2019Q1

• FY 2021 c60 ()

• FY 2018 Q3 sales up 18% in which past growth 1 digit!

• Saudi JV with Sadara coming online - service APAC, Africa - Low Cost Leader

• Gulf Coast ventures poly - 3 big ones in 2020-21 - take advantage of Gas - serve Americas

• Top

• Sch B rating, 7/15/21 downgraded to Underperform from Neutral at BofA Securities.

• Div Qtrly 70c annual div 4.5%

• About Dow Chemical Company

• Split up from DowDuPont into 3 companies
• Jim Fitterling, CEO of DowDuPont subsidiary The Dow Chemical Company, to hear about its impending spin-off and the chemical business at large.

Industrial Gases

APD