www.dow.fr2015 Annual Report

Everything starts with #chemistry

Dow France

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LEADER MONDIAL

Dow, a 118 year old scientific startup / P 02 A world leader established in France

A global company... / P 03 …benefiting from a strong presence in France.

The ambition of redefining the role of business in society / P 04

Key figures / P 05 Dow in France Dow in Europe

Manufacturing operations in Picardy / P 06 •Chauny - Aisne (02) •Villers-St-Paul - Oise (60)

Manufacturing operations in Alsace / P 07 •Drusenheim - Bas-Rhin (67) •Drusenheim - Bas-Rhin (67) •Erstein - Bas-Rhin (67)

Translating our values into actions / P 09 •Establishing lasting partnerships with our local communities •Contributing to community projects •Promoting safety in everything we do •Helping to protect natural sites •Promoting science and chemistry

Environment, health and safety: an everyday commitment / P 11 •Water, waste, energy and climate change •Aiming for “zero incidents” •Technological Risks Prevention Plan (PPRT) •Responsible Care® celebrates 25 years in France!

A decisive raw materials advantage / P13

STRATÈGE

Building sustainable growth through our competitive advantages / P 14 An optimized business portfolio

A structure aligned with our markets and strategy / P 15 •Paris Saint-Denis office - Seine-Saint-Denis (93) •Saint-Quentin-en-Yvelines office - Yvelines (78)

Partnering with the Olympic Games / P16 •Sochi 2014: CO

2 emissions offset before

the opening of the Games! •On the road to Rio 2016 •Chemistry, essential lever for the transition to a low-carbon economy

Diversity at the core of our success / P 18 •Special Olympics France partner •Rev’Elles: Promoting equal opportunities and entry into the professional world for young girls from less privileged backgrounds •Giving a voice to children with Angelman syndrome

PRODUCTEUR

Innovation at the core of our DNA / P 20

France, a land of innovation for Dow / P 21 •Valbonne-Sophia Antipolis Innovation Center Alpes-Maritimes (06) • Chauny laboratories - Aisne (02) •Drusenheim laboratories - Bas-Rhin (67) • Erstein laboratories - Bas-Rhin (67) •Agricultural research stations

Committed partner of scientific education / P 23 •Partner of the Strasbourg School of Chemistry, Polymers and Materials Sciences (ECPM) •Partner of junior high schools… •…and of the Wissembourg High School •Historic sponsor of the French Chemistry Olympiads •Sponsor of the 2015 Chemical World Tour

118 years of industrial history - including over 50 years in France / P 25

GLOBAL LEADER

MANUFACTURER

STRATEGIST

INNOVATOR

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At Dow, we combine the power of science and technology to cultivate a pas-sion for innovation in areas essential to human progress. Our company innovates at the intersection of chemistry, physics and biology to help solve major global challenges such as access to drinking wa-ter, the production and conservation of renewable energies, sustainable mobility and improved agricultural productivity.

As an industry leader, we provide an integrated portfolio of specialty products, advanced materials, phytopharmaceuti-cal products and plastics. We off er our customers, who are located in 180 coun-tries, a wide range of technology-advan-taged solutions for strong growth sectors such as packaging, electronics, water, coatings or agriculture.

In 2014, Dow’s 53,000 people realized sales of over $58 billion. With headquar-ters in Midland, Michigan (USA), we manufacture more than 6,000 products at 201 sites in 35 countries around the world.

Dow began its activities in France in April 1963. Since then, our presence in metropolitan France has experienced steady growth. Today, Dow France gathers 1,350 employees at our facilities, which include fi ve production sites, a European innovation center and several administrative and commercial sites, including the head offi ce located in Saint-Denis in the Paris area.

Dow contributes to the French industrial and economic eco-system by creating and protecting quality jobs and by develop-ing eff ective innovation and manufacturing assets in France, particularly in the Seine-Saint-Denis, Yvelines, Alpes-Maritimes, Bas-Rhin, Oise and Aisne departments. A dynamic player in the economy, we export around 80% of the volumes produced by our French sites, including over 50% outside the European Union. Today we develop, manufacture and market a wide range of chemical solutions, plastics and specialty products in France for every industrial sector including agriculture.

Dow, a 118 year old scientifi c st ar tup

A global � ade r established in France

53 000

employees around

the world

Our Chauny site in the Aisne department

LEADER MONDIALGLOBAL LEADER

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A global company...

Operations

Agricultural Science Dow AgroSciences Dow Seeds

Consumers Solutions Home, Institutional & Personal Care Solutions

Infrastructure Solutions Dow Building Solutions Dow Coating Materials Dow Plastic Additives Dow Water and Process Solutions

Performance Materials & Chemicals Dow Polyurethanes Polyurethane Engineering Elastomers

Performance Plastics Packaging & Specialty Plastics

& Personal Care Solutions

Infrastructure Solutions Dow Building Solutions Dow Coating Materials

Dow Water and Process Solutions

Performance Materials & Chemicals

Polyurethane Engineering

& Personal Care Solutions

Infrastructure Solutions Dow Building Solutions Dow Coating Materials

Dow Water and Process Solutions

Performance Materials & Chemicals

Polyurethane Engineering

Erstein

Saint-Quentin Paris-St-Denis

Villers-St-Paul

Drusenheim Rhine Center

Valbonne Sophia Antipolis

Chauny

Lauterbourg

…benefi ting from a strong presence in Fran ce

Note : Excluding agricultural testing stations

Shared Services

Paris St Denis Customer Service, Business, Marketing and Sales, Human Resources, Insurance, Legal, Public Relations, Regulatory Aff airs

LauterbourgEmergency Services and Safety

Drusenheim Finances, Purchasing, Environment, Health and Safety

Sophia Antipolis : Business, Marketing and Sales, Regulatory Aff airs, Legal

Administrative and Commercial Offi ces

Innovation Facilities

Manufacturing

Legend

3

Sadara, une co-entreprise entre Dow et Saudi Aramco, est sur les rails pour un démarrage au deuxième semestre 2015, et être pleinement opérationnelle en 2016.

37% 34%

13% 16%

North America:79 manufacturing sites~26 000 employees

Europe:43 manufacturing sites~11 000 employees

Africa, Middle East, India:11 manufacturing sites~3 000 employees

Latin America:28 manufacturing sites~5 000 employees

Asia-Pacifi c:40 manufacturing sites~8 000 employees

of sales of sales

of salesof sales

GLOBAL LEADER

2014 global sales - Non-audited USGAAP data.

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In 2015, we announced seven strategic Sustainability Goals for 2025 that aim to redefi ne the role of business in society. Designed to increase our positive impact all over the world, in order to facilitate the emergence of a more sustainable society and planet. The objectives are structured into three pillars: unlocking the potential of people and science, courageous collaboration and valuing nature.

Ten years after the implementation of Dow’s fi rst Sustainability goals, in 2005, it was possible to record considerable advances in terms of safety, waste, water and energy management to reduce our ecological footprint. The Dow 2005-2015 goals

contributed to the development of long-term solutions meeting the global challenges of food, energy, the sustainable supply of water and better hygiene for all.

Our passion for science and our extraordinary capability for innovation provide concrete solutions to the global challenges, to improve the quality of life.

Our sustainability goals for 2025:

Leading the BlueprintDow leads in developing a socie-tal blueprint that integrates pub-lic policy solutions, science and

technology and value chain innovation to facilitate the transition to a sustain-able planet and society.

Delivering Breakthrough Innovations Dow delivers breakthrough sus-tainable chemistry innovations

that advance the well-being of humanity. By 2025, Dow’s product portfolio will have a six-fold net positive impact on sustainable development. Dow products will off set three times more carbon diox-ide than they emit throughout their life cycle and save three times more energy than they use throughout their life cycle.

Advancing a Circular EconomyBy 2025, Dow will work with other industry leaders, non-profi t organizations and governments

to deliver six major projects that facili-tate the world’s transition to a circular economy, where waste is designed into new products and services.

Increasing Confi dence in Chemical Technology Dow increases confi dence in the safe use of chemical technology

through transparency, dialogue, unprec-edented collaboration, research and the Company’s actions. By 2025, Dow will de-velop new, advanced predictive modeling capabilities and integrate them into 100 percent of their new product assessments.

Engaging Employees for Impact Dow people worldwide directly apply their passion and expertise to advance the quality of life of people and the planet. By 2025,

Dow employees worldwide will apply their talents to positively impact the lives of one billion people. Dow employees will give 600,000 hours to support students and teachers in science, technology, engi-neering and math (STEM) education.

Valuing Nature Dow applies a business decision process that values nature, which will deliver business value and nat-ural capital value through projects

that are good for the Company and good for ecosystems. Dow will generate $1 billion by 2025 in the form of cost savings or new cash fl ow as measured by net present value.

World-Leading Operations Performance Dow maintains world-leading operations performance in natu-

ral resource effi ciency, the environment and health & safety. By 2025, Dow will lessen its freshwater intake at key water stressed sites and reduce its waste inten-sity by 20 percent. It will also obtain 400 megawatts of its power demand from renewable sources.

At Dow, sustainable development translates into concrete actions with measurable goals. We communicate regularly and transparently about our progress and our environmental performance, particularly through quarterly global assessments and an annual sustainable development report.

To learn more, scan the QR code to access our sustainable development reports.

7 strategic Sustainability Goals for 2025

GLOBAL LEADER

The of redefi ning the role of business in societyam� ti on

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Over 1 300 employees

9,1 million euros* investments eligible for the French Research Tax Credit in 2014

Close to 200 scientists

About 1 billion euros* of sales in 2014

Dow in France Dow in Europe

*Non-audited USGAAP data.**EMEAI: Europe, Middle-East, Africa, India

7 research, development and technical support laboratories

About 80% of the volumes manufactured by our French sites are exported outside of France

2 agricultural research stations, opened in 2013 and 2014

Over

65 millions euros* in capital investments in our French sites between 2012 and 2015

1 innovation center renovated in 2014-2015

manufacturing sites

43 manufacturing sites

Over 11 000 employees

About 90% of the products sold by Dow in Europe are manufactured in Europe.

Over half of our strategic customers are present in Europe

34% of our sales* were made in the EMEAI** zone in 2014

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66

Chauny Aisne (02) • Creation: 1948 • Employees: 298 (May 2015)• Capital investment: 7,6 million euros (2013-2015)

In the heart of Picardy, Chauny is the world’s largest ion-exchange resins, adsorbent resins and catalysts manufacturing site. These solu-tions are used to purify, separate or enrich the elements of the liquids processed, in very diverse applications. These include: water treatment, food and pharmaceutical industries, electricity generation, bioprocess-ing, formulation, catalysis, process chemistry, biodiesel… Even the processing of orange juice!

It distinguishes itself through its investment dynamics, which make it possible to accommodate new products while continually improving the productivity and the environmental performance of our opera-tions. This was the case for a number of projects in 2014 and 2015 that aff ected our pharmaceutical grade resins production plants, including excipients or active ingredients such as cholestyramine, used to control blood cholesterol levels.

In addition to its production units, our Chauny site houses cutting edge laboratories for technical support, applications development and quality control responding to the needs of Dow Water and Process Solutions customers.

Villers-Saint-PaulOise (60)

• Creation: 1990• Employees: 60 (May 2015)• Capital investment:

6,6 millions euros (2013-2015)

Within the Villers-Saint-Paul chemical platform, we produce water-soluble acrylic polymers available in aqueous form and dry form. These products are used by customers of Dow Home, Insti-tutional, Personal Care Solutions for the detergency (dishwasher tablets), construction, nonwoven textiles, water treatment and pe-troleum and ceramics industries.

Manufacturing operations in Picar dy

Waste reduction always pays !In 2015, the site also inaugurated a fi lter press making it possible to considerably reduce the volume of waste created by the site’s water treatment plant, a facility with a capacity equivalent to that necessary to treat the wastewater of a city of 450,000 inhabitants. In 2013, a new state-of-the-art unit for eliminating organohalogenat-ed compounds had already been inaugurated at the plant, a project highlighted by the French Chemical Industry Association (UIC) in connection with the 25th anniversary of the Responsible Care® program in France.

Phosphate-free detergents for your dishwashersIn order to provide the technologies necessary for the development of phos-phate-free detergent products for dishwashers in 2017,

the researchers at our Valbonne-Sophia Antipolis innovation center are working on several developments based on the polymers of the ACUSOL™ product line, manufactured in Villers-Saint-Paul. Our goal is to identify innovative phos-

phate-free solutions making it possible to maintain performance in terms of brightness, stain removal and calcium deposits.

MANUFACTURER

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Coatings that contribute to cleaner indoor airIn 2014, an innovative acrylic binder developed by the Dow Coating Materials laboratories in Valbonne-Sophia Antipolis, started pro-duction in Lauterbourg. Based on our FORMASHIELD™ technology, acrylic binders give decorative paints the ability to capture and neutralize certain air pollutants including formaldehyde, a volatile organic compound (VOC) emitted by certain items of furniture, carpeting, fabrics or cleaning products. It enables manufacturers to develop quality, odorless water-based paints that reduce the concentration of formaldehyde in indoor air by more than 80%.

Lauterbourg Bas-Rhin (67)

• Creation: 1958• Employees: 237 (May 2015)• Capital investment: 5.5 million euros (2013-2015)

In Lauterbourg, we manufacture several lines of additives for the coating industry. Marketed by Dow Coating Materials, these raw materials are used in decorative and industrial paints, leather, pa-per and textiles and nonwovens.

Another activity is the manu- facturing of plastic additives, marketed by Dow Plastic Addi-tives. These processing agents and impact modifiers improve the performance of plastics which are primarily used in the packaging, automobile, building and construction goods sectors.

Between 2011 and 2014, we successfully carried out a vast soil remediation project, including the treatment of 85,000 tons of earth from the site’s dump which was operated between 1960 and 1997 by the previous owner.

This project, which represented an investment of more than 40 million euros, won the national

“Responsible Care®” Award in the Environment category, given by the Union of Chemical Industries (UIC). In 2014, Lauterbourg also won a regional Trophy for its leak reduction program which started five years earlier for which the purpose was to achieve the am-bitious objective of zero loss of primary confinement.

Drusenheim Bas-Rhin (67) • Creation: 1969• This site has been part of the Dow Rhine Center since 1993,

a single entity that manages the neighboring Drusenheim site in France and Rheinmünster site in Germany

• Employees: 259 (May 2015)• Capital investment: 16,9 million euros (2013-2015)

In Drusenheim, we produce extruded polystyrene foam (XPS) which is marketed by Dow Building Solutions and widely used by the construction industry to improve energy efficiency of buildings. Additionally, the site produces plastic films for Dow Packaging and Specialty Plastics customers in the paper-making, food and medical industries.

Our agricultural division, Dow AgroSciences, also operates phytopharmaceutical product synthesis, formulation and packaging plants at our Drusenheim site: primarily selective herbicides and fungicides intended for professionals use in the cereals and wine growing sectors. These activities have been the subject of several recent capital investment projects to meet market demands.

Manufacturing operations in Alsace

MANUFACTURER

88

The Drusenheim and Erstein sites have each won a Responsible Care® Trophy from the Chemical Industry Association for Eastern France (UIC Est)

for their Social Responsibility and safety programs, respectively.

Erstein Bas-Rhin (67)

• Creation: 1975• Employees: 48 (May 2015)• Capital investments (2013-2015):

2,3 million euros

Our Erstein site houses several Dow Polyure-thanes development and production activities, particularly polyurethane systems used, for example, for the impact resistant flooring for children’s playgrounds, for tiling, insulating foam for construction, or glues, paints, sound insulation gaskets and materials for automo-biles.

Since 2013, the site has undergone major transformations to develop its polyurethane pre-polymer production and to accomodate the production of high-performance poly-urethane elastomers, used in applications as mining screens, offshore buoys, highly resistant mechanical parts, ink roller coatings, and even anechoic tiles that make submarines undetectable! At Dow, Erstein is the only polyurethane elastomers manufacturing site worldwide.

The site also houses certain commercial services for the French and Benelux markets, as well as technical support and develop-ment services for Europe in the adhesives, binders and hydrophilic prepolymers market segments.

Strengthening our innovation capabilities in DrusenheimIn order to meet the expectations of Dow AgroSciences customers, Drusenheim will open a new pilot formulation laboratory in late 2015, which will strengthen the site’s innova-tion system by allowing the development and evaluation of new products prior to their large-scale production. At the same time in 2012, Dow AgroSciences doubled the capacity of its packaging line to adapt to market demand, by in-

stalling a new formulation plant and a new research and development laboratory at the site.In the coming years, the Dow agricultural division will launch more than 40 new herbicide, fungicide and insecticide formulations adapted to the requirements of the mar-kets of the Europe, Middle East, Africa and India region (EMEAI).

An innovative polyurethane binder for improved fiberboard performanceThe Dow Polyurethanes Laboratories in Erstein developed one-component polyurethane binders based on the VORAMER™ MV 4001 technology. Used to assemble low-density fiberboard, they allow manufacturers to increase the flexural strength of its boards compared to the traditional solutions, offering excellent heat and sound insulation properties whatever the season, and make cutting, handling and the recycling of the boards easier.

MANUFACTURER

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Establishing l� ti ng partnerships with our local communities

In France as all over the world, we maintain an open and on-going dialogue with the communities in which we are settled in order to develop con-structive, strong and lasting relationships.

“Community Advisory Panels” have been set up for each of our major production sites, some for more than 20 years.

In addition to regularly opening our doors to those who want to get to know us and learn about our activities, we also publish an informational magazine distributed regularly to the households near our sites in which we explain our activities and our projects.

Contributing to community projects

Our objective in providing our exper-tise, our commitment or simply our support to the projects of our local communities is to respond to their most urgent needs and to thus improve the quality of life of our neighbours. We also measure this “quality of life” around our largest sites by conducting opinion polls with the local communi-ties. This shows us how our activities are perceived and the role we play in our adoptive communities.

In 2013 and 2014, for example, we helped with the acquisition of play-ground equipment in collaboration with the cities of Sinceny (Aisne),

neighbor of our Chauny site, Mothern (Bas-Rhin), neighbor of our Lauterbourg site, and Erstein (Bas-Rhin). These are places where children can meet and burn off energy, but also places that foster social cohesion and benefi t the greatest number of users.

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Laboratoire de développement de Dow Polyuréthane à erstein (Alsace)

Promoting sa f� y in everything we do

Safety is our number one priority at all levels for all our em-ployees, our local communities, our customers and those who use our products. Aside from our internal prevention, training and risk control programs, we work closely with the author-ities, emergency services and the communities to ensure the safety of our activities.

We also assist with the acquisition of prevention training equipment to strengthen safety in our local communities. For example, we helped the city of Drusenheim (Bas-Rhin) to equip several public locations with defi brillators and the junior high school with fi rst-aid training mannequins for the students. More recently, the Drus’écoles association turned to Dow to provide refl ective vests to 500 of the city’s grade school and kindergarten students during a road safety day.

Children’s playground opened in Mothern, next to Lauterbourg (Bas-Rhin)

Heiko Dahms, Director of the site, distributes safety vests to the school childrenof Drusenheim

500 refl ective vests for kindergarten and grade

school children.

MANUFACTURER

Translating our values into acti on s

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Helping to protect natural sites

In addition to our commitment to reduce our own envi-ron-mental and footprint, we are involved in conservation and educational projects that protect natural sites at community level. In 2014, we partnered with the city of Villers-Saint-Paul (Oise) to reintroduce ducks and peacocks in the Brèche River city park, this helped to raise the community’s awareness of the local biodiversity.

This project helped restore and preserve the areas natural heritage, a 5-hectare open space with its different lakes and its Brèche River, for the enhanced pleasure of visitors and residents.

Promoting science and chemistry

Chemistry, whose miracles surround us in our daily life, remains paradoxically a science and an economic sector that are not well known in France, especially among the younger generation.

Yet we need the best scientific talents to develop innovations that will contribute to meeting the world’s greatest challeng-es of tomorrow.

This is why at Dow, we support cer-tain educational projects devoted to promoting technology and science at the schools near our French sites. The junior high schools of Lauterbourg and Drusenheim (Bas-Rhin) thus benefited in 2014 and 2015 from a contribution that helped with the purchase of CAE (Computer Assisted Experimentation) equipment. Used for Life Sciences, Earth Sciences, Physics and Chemistry classes and lab work. This equipment simplifies experimentation and facilitates analysis and pedagogical use to make the scienc-es more attractive.

Reintroduction of peacocks and other birds in the park of the Villers-Saint-Paul city (Oise)

Promoting science and chemistry

MANUFACTURER

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At Dow, the demand for quality also involves respect for the environment. Sustain-able development drives our strategy and is a component of all our activities.

Our contribution to environmental protection involves responsible management of our industrial operations, as well as the contribution of our products and technol-ogies to solving certain environmental challenges. These include: capturing green-house gasses and pollutants, the production of clean energies, building insulation or water fi ltration and purifi cation.

0

1

2

3

4

5

6

2010

5,124,57

4,554,61

4,27

2011 2012 2013 2014 2010

38,032,8

37,0

32,2

39,0

2011 2012 2013 20140

5

10

15

20

25

30

35

40

2010

56,551,8

42,937,6

42,2

2011 2012 2013 20140

10

20

30

40

50

60

Water consumption

Greenhouse gas emissions

Waste production

Source: EH&S Department and Regulatory Affairs, Dow France.

In million of tons In thousands of tons equivalent CO2 In thousands of tons

Water consumption, greenhouse gas emissions and waste production of Dow in France.

Environment, health and safety: an everyday � mmi tm�

Water, waste, energy and c� m� e ch an geA world-class chemist, Dow is one of the largest energy con-sumers in the world. Therefore, we have the duty and the ability to respond to the challenges of energy effi ciency in order to minimize our impact and that of our customers on climate change. In France, Dow applies its precise and success-ful environmental policy strictly. We continuously improve our techniques and processes through regular capital investments, we reduce and reclaim our waste and optimize our water and energy consumption, thereby minimizing the impact of our activities on climate change.

Thanks to the constant concern for improving the effi ciency of our industrial process and of our facilities, we successfully reduced water consumption at our production sites by 11% between 2010 and 2014. Over the same period, we also reduced the quantity of waste produced by our manufacturing activities in France by 24%.

Our effi ciency eff orts also allowed Dow France to reduce its greenhouse gas emissions by 5% between 2013 and 2014, and by 3% between 2010 and 2014. Over this last period, we never-theless experienced a signifi cant increase in greenhouse gas emissions between 2012 and 2013, which is explained in by the startup in 2013 of a new plant at the Drusenheim site, the in-crease in our own energy requirements at the Chauny site, and by the adaptations made to our emissions calculation system in order to take certain indirect emissions into account.

Our French sites reduced waste production by 24% between 2010 and 2014.

MANUFACTURER

Wetland located next to our Drusenheim site (Bas-Rhin)

12

The SEVESO III directive: increased safety and transparencyIn 2015, directive 2012/18/EU called “Seveso III” took effect in France. It strengthens several aspects of the regulation aimed at ensuring safety around classified installa-tions for environmental protec-tion in the European Union. This directive includes, new provisions relative to public access to safety information concerning manufacturing sites.

A transparency requirement that Dow has shared for many years, via its website (www.dow.fr), its regular publications and its Community Advisory Councils set up in 1994. Direct connec-tions with the communities, and advisory committees ensure a direct dialogue between our sites and our neighbors.

Responsible Care® celebrated 25 years in France! Dow contributed to the development and was one of the first signatories of the Responsible Care® Charter. This charter up-holds the conduct of operations in the global chemical industry, while protecting the environment and continuously improving the safety and health protection of employees and neighboring populations and to act with transparency. On the 25th anniversary of Responsible Care® in France, French chemical manufacturers renewed their commitment in 2015. To illustrate this, the chemical industry in France cut its greenhouse emissions by half that of 1990 levels.

Aiming for “zero incidents” At Dow, compliance with safety, health and environmental protection guidelines is a basic and non-negotiable require-ment. We reinforce the sense or responsibility of all employees working at our sites through continuing training programs. For example, in France we have a higher number of first-aid officers than required by law. We apply the most demanding safety standards to our processes and facilities, and regularly verify both their effectiveness and staff compliance through audits and safety drills.

Technological Risks Prevention Plan (PPRT) In accordance with the regulation, Technological Risks Prevention Plans (PPRT) have been developed for our three major production sites (Drusenheim, Lauterbourg and Chauny), and were approved by the authorities in 2011, 2014 and 2015.

Safety equipment at our Villers-Saint-Paul site (Oise)Ramon Melgarejo, President de Dow in France, renews our commitment to the Responsible Care® program on June 25, 2015

MANUFACTURER

12 1313

A decisive raw materials adv� ageAt Dow, we draw on our incomparable integration advantage by supplying raw materials at competitive costs for our high value-added solutions. Major strategic capital investments un-derway will help us secure access to raw materials at a compet-itive cost for decades to come, a determining advantage for our customers, but also for our downstream production sites.

Our capital investments include several large industrial projects that benefi t from facilitated access to raw materials, particularly in Saudi Arabia and in the southern United States. They aim to strengthen our competitiveness in certain strate-gic market segments. These mega projects are progressing in line with expectations. Several essential units will start up as planned during 2015.

An example of this is SADARA, our joint venture with the Saudi Aramco group, whose fi rst production plants will come on-line in 2015 and will be fully operational during 2016. This chemical complex located in Saudi Arabia includes 26 manufacturing units for a production capacity of over three million tons of performance plastics and chemical products. It represents a decisive advantage for accessing several markets with strong growth prospects, such as the Asia-Pacifi c zone and Africa.

On the other side of the Atlantic, our major capital invest-ments on the Gulf coasts have also advanced as projected. Startup of our propane de-hydrogenation plant (PDH), planned before the end of 2015, will make it possible in particular to satisfy a third of our propylene needs in the United States.

Sadara, une co-entreprise entre Dow et Saudi Aramco, est sur les rails pour un démarrage au deuxième semestre 2015, et être pleinement opérationnelle en 2016.

The new SADARA complex in Saudi Arabia will include 26 man ufact� in g u� ts

MANUFACTURER

14

To succeed in volatile, globalized and competitive markets, our strategy requires us to get closer to our customers and their high value-added end markets. It drives us to make bold choices to optimize our portfolio in order to free up the resources necessary to invest in and improve our productivity in the sectors where Dow is making a diff erence.

We favor revenue growth from technologically-advanced solutions and businesses with high margins, benefi ting from access to low cost components and raw materials, while reducing our costs and defending the competitiveness of our manufacturing sites.

In order to seize the opportunities in our less cyclical and higher margin markets such as packaging, electronics, transportation or agriculture, in 2014 and 2015 we divested the following operations:

- The sale, to the Olin Corporation, of our epoxy and chlori-nated organics business and part of our chlor-alkali and vinyl businesses;

- The sales of the company ANGUS Chemical and of our sodium borohydride-related activities;

- The sale of AgroFresh, a company dedicated to post-harvest preservation solutions for fruits, vegetables and plants.

Through these operations, combined with a policy of innovation and capital investment, particularly in our industri-al projects on the U.S. Gulf Coast, in our joint venture SADARA and through the acquisition from ExxonMobil of its stake in the joint venture Univation, Dow capitalizes on its powerful integration advantage to fuel sustainable growth. This strategy is paying off . Dow thus announced in July 2015, an increase for the 11th consecutive quarter in its earnings before interest, taxes, depreciation and amortization (EBITDA), its EBITDA margin and its earnings per share.

An optimized business por tfo� o

PacXpert™: innovative, light and durable packaging

PacXpert™ is a fl exible alternative to traditional rigid containers. Being light, it reduces the quantity of energy necessary to transport it, and therefore the associated CO2 emissions. Being fl exible, it can be transported fl at, when empty, which saves space. Its durability, PacXpert™ reduces the volume of waste and is entirely recyclable. Since 2014, the French company Leygatech has partnered with Dow to market PacXpert™ in France, in the United Kingdom, in Belgium and in Ireland. PacXpert™ received numerous awards in 2014-2015, winning the Innovation Trophy awarded by ‘Carrefour des fournisseurs de l’industrie agroalimentaire’ (CFIA) and a Sustainability Award from the magazine. Packaging Europe.

Building through our competitive advantages

sust � nab� � ow th

STRATEGIST

14

A structure aligned with our markets and strategy

In the fourth quarter of 2014, we announced a realignment of our operational segments in order to reflect our integration strategy and strengthen our effectiveness in the main markets of our businesses.

Agricultural Sciences Consumer Solutions Infrastructure Solutions Performance Materialsand Chemicals Performance Plastics

Dow AgroSciences - Dow AgroSciences - Dow Seeds - SentriTech

Consumer Care - Home, Institutional & Personal Care Solutions

- Dow Pharma & Food Solutions

- SAFECHEM

Building & Construction - Dow Building Solutions - Dow Construction Chemicals

Industrial Solutions - Oxygenated Solvents - Polyglycols Surfactants and

Fluids (PS&F) - Amines and Chelants - Ethylene oxide / Ethylene glycol (EO/EG)

Dow Packaging & Specialty Plastics

Dow Electrical & Telecommunications

Energy

Dow Hydrocarbons

Dow Elastomers

Polyurethanes - Dow Polyurethanes - Propylene oxide / Propylene glycol (PO/PG)

Energy & Water Solutions - Dow Microbial Control - Dow Oil, Gas & Mining - Dow Solar - Dow Water & Process

Solutions

Performance Monomers - Dow Performance

Monomers - Dow Plastics Additives

Dow Coating Materials

Dow Electronic Materials - Interconnect Technologies - Displays Technologies - Semiconductors Technologies - Growth Technologies

Dow Automotive Systems

Our sales teams in France serve all of our business segments. They are attached to two main commercial and administrative “hubs”:the Paris Saint-Denis office and the Saint-Quentin-en-Yvelines office.

Adjusted EBITDA margin per operating segment

13,2% 22,6% 13,8% 14,5% 19,8%

7,2 Md $ 4,6 Md $ 8,4 Md $ 15,1 Md $ 22,4 Md $

2015 Sales by operating segment $ 58.2 billion

Paris Saint-Denis office Seine-Saint-Denis (93)

• Employees: 160 (May 2015)The Dow France head office is located in Saint-Denis, north of Paris. It houses several shared services including exec-utive management and the following departments: Legal, Regulatory Affairs, Public Relations, Insurance and Human Resources. The site also houses the Sales teams, Customer Service and certain sup-port functions for most of the group’s business: - Dow Pharma & Food Solutions - Home, Institutional and Personal Care Solutions

- Dow Automotive Systems - Dow Electronic Materials - Building and Construction - Dow Coating Materials - Dow Microbial Control - Dow Water & Process Solutions - Performance Monomers - Dow Plastic Additives - Industrial Solutions - Dow Polyurethanes - Packaging and Specialty Plastics - Dow Elastomers - Dow Electrical & Telecommunications

Saint-Quentin-en- Yvelines office Yvelines (78)

• Employees: 105 (May 2015)In the Ile-de-France region, Dow has also had a site since 2005 in Montigny-Le- Bretonneux that houses the sales teams and certain support functions for our Dow AgroSciences and Dow Seeds businesses: Regional Divisions, Sales teams, Customer Service and the Marketing, Technical Support, Regulatory Affairs, Certification and Experimentation departments.

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Partnering with the Oly mpi c Games Since 2010, we have been a proud worldwide partner of the Olympic Games. Our innovative solutions are at the center of the games, from track coatings to stadium seats, from building insulation to lighting… including TV broadcast cables and the design of the bobsled tracks!

In Rio and in Sochi, Dow is also a carbon partner of the Olympic Games, an initiative in connection with which our solutions, used within the framework of bold local partnerships, make it possible to off set the CO2 emissions associated with organizing the Games.

Our DOWLEX™ polyethylene resins are used in the artifi cial turf of certain Olympic stadiums.

On the road to Rio 2016 Faster, higher, stronger! As offi cial car-bon partner of the Rio Olympic Games, we are setting up the largest carbon emissions reduction and off set program in Olympic history. In fact, our initia-tives will off set the emission of 500,000 CO2 equivalent tons associated with the direct organization of the Rio Games, and 1.5 million CO2 equivalent tons by 2026, through targeted climate cam-paigns. The experts at Dow AgroSciences have already begun working with the farmers of Mato Grosso on establishing good farming practices aimed at increas-ing the productivity of their farming operations, while at the same time reducing their carbon footprints.

Soch i 2014: CO2 emissions offset before the opening of the Games!

The Sochi Winter Olympics were the fi rst to off set their entire direct carbon foot-print even before the opening ceremony. As part of the offi cial carbon partnership, our scientists worked closely with nu-merous participants to implement highly energy effi cient solutions with strong po-tential for reducing emissions: thermal insulation of buildings, support for

local farmers, renovation of infrastruc-tures… In all, the emission of 520,000 CO2 equivalent tons was avoided thanks to these solutions, which corresponds to the direct carbon footprint of the organi-zation of the Games, and the travel of the athletes, spectators and journalists.

520 000 equivalent CO2 tons have been offset for the Sochi Olympic Games

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IOC Submission number: DOW00064.1 - Approved

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Chemistry, essential lever for the to a low-carbon economy

The 2015 Paris Climate Conference (COP 21) places climate issues at the center of the concerns for a sustainable future. To be effective in limiting global climate change, we are convinced that the agreement that will be signed in Paris in 2015 must mark the first step toward a coordinated, effective and global approach to climate change that also includes the developing countries.

Global CO2 emissions per region from the use of fossil energies and cement manufacturing.Source : Joint Research Center (European Commission), PBL Netherlands Environmental Assessment Agency,Trends in global CO2 emissions 2013 report, The Hague, 2013.

Partnering with the Olympic GamesThe BETAMATE™ adhesives enabled eliminating the emission of 23 millions of CO2 equivalent tons sinces 19994

transition

Although it supplies all industrial sectors, the global chemical industry accounts for around 10% of the world’s energy consumption and only generates 7% of total greenhouse gas (GHG) emissions1. This is why chemical companies play an essential role in the fight against climate change through the continuous optimi-zation of its production processes and the decisive contribution of its solutions to a low-carbon economy.

Through the continuous improvement of its production processes (catalysis, energy efficiency, materials recycling), the European chemical industry has reduced its GHG emissions2 by half in 25 years. At Dow, we reduced our GHG emissions from 47 to 35 million CO2 equivalent tons since 2006, while our business volume increased 20% over the same period.

Faced with climate change, chemical companies hold part of the answer. The solutions found through innovative chemistry are key for the transition to a carbon-lean world:

- For example, the improved energy efficiency of buildings offers a huge opportunity for reducing emissions. It represents approximately one third of the energy consumed in the world.

- Our BETAMATE™ structural adhesives allow car designers to use lighter mate-rials that reduce the weight of vehicles and therefore the energy necessary to move them.

During its lifecycle STYROFOAM™ insulation material saves up to 233 times more energy3 than it takes to manufacture3

1 ICCA, Key contribution to climate change challenge (Vidéo)2 Cefic, European Facts & Figures, 20143 PlasticsEurope, Plastics - Architects of modern and

sustainable buildings, 20124 Source : Dow Automotive Systems

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International transport

Developing economies

China

Other developing economies

Mature economies

European Union (EU 27)

United States of America

Russian Federation, Economies in transition, Japan and other OECD countries.

40

30

20

10

0

x 1000 million of tons of CO2

1990 1994 1998 2002 2006 2010 2014

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Speci al Oly mpi cs France partner

Since 2012, Dow and Special Olympics France have nurtured a partnership for the inclusion of people living with a mental handicap in professional and social life through sports. Each year the ambition of this association allows for a large number of adults and children living with a mental disability to expe-rience the joy of sports in a competitive context. The aim is to change the way society views disability. This ambition is shared by Dow France and its employees.

In 2015, 60 employees of Dow France, from all of our eight sites in France, joined forces to participate in fi ve relay races organized by Special Olympics in the Paris region, at the Sophia Antipolis Technology Park, and in the Strasbourg area for people with disabilities.

Rev’Elles: Promoting equal oppor tu� ti es and entry into the professional world for young girls from less privileged backgrounds

In 2015, at the initiative of our Women’s Innovation Network (WIN), we opened the doors of our Paris Saint-Denis site to Rev’Elles, an association that organizes career days for young women aged 16-20 and living in deprived areas. The aim is to help them identify their aspirations, their professional ambitions and the means for realizing them.

The goal of the approach is to give these young women the opportunity to form their own opinions about the business world and the opportunities it may off er them. These career days aim to eliminate diff erent deterrents associated with a lack of self-confi dence by off ering them the opportunity to meet with women in industry that they can identify with.

The mentoring session that seven women agreed to take part in meant that explained their career paths and passed along their advice. An opportunity for everyone to change perspective concerning the opportunities that business and the labor market off er women to realize their potential.

Over and above our role as an economic player, we are convinced that the values that we believe and invest in are essential to our success. We invest in the integrity of the men and women of Dow, in the diversity of their skills, their backgrounds and their origins. We thus develop our culture of responsibility and diversity on a daily basis.

Our social investment is visible everywhere we are present in the world. Integrating diff erences and encouraging everyone to adopt them is an important Dow promise, particularly through its “Diversity and Inclusion” program that exists all over the world.

In France, we have set up networks of volunteer employees to participate in the deployment of concrete campaigns focused on diversity: - the Disability Employee Network (DEN), which devotes its activities to promoting the inclusion of disability in society and in the company,

- the Women Innovation Network (WIN), participates inin-house and external campaigns aimed at promoting the professional success of women in the company.

Diver si ty at the core of our success

60 Dow employess participated in the 2015 French Special Olympics races.

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Arthur received alternative communication equipment as part of the operation “Let’s give our children a voice” spearheaded by the AFSA with the support of Dow. Photo credit: AFSA © 2015

Giving a voice to children with Angelman syndrome

In 2015, we provided our support to a project promoting alternative commu-nication techniques led by the French Angelman Syndrome Association (AFSA).

Genetic in nature, Angelman syndrome is a severe neurological development disorder that impacts speech and com-munication as well as motor skills. This is why alternative communication is essential in managing these children so that they can express themselves and be understood.

Our campaign in partnership with the AFSA, began in 2015 and entitled “Let’s give our children a voice,” has made it possible to support some one hundred member families with acquiring touch-pads and adapted software. A step in the right direction to improve communica-tion between these children and their families.

Polyurethane without compromise, with VORAGUARD™, All around us, upholstered furniture filled with polyurethane foams revolutionized comfort since the 1960s. To ensure the fire safety of these materials, particularly in public places and within vehicles, an additional treatment that potentially emits volatile organic compounds and that may affect the comfort of the foams is necessary. At Dow, we invented VORAGUARD™, a new polyol technology that makes it possible to produce high resilience, fire retardant polyurethane foam that performs well in terms of VOC emissions. Foam producers will no longer need to compromise between safety, emissions and comfort.

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At Dow, more than 6,200 researchers located all over the world obtained more than 635 patents in the United States in 2014. That’s a historical record for us. With 1.65 billion dollars invested during the same year, Dow is one of the world’s largest contributors to innovation at the intersection of chemistry, biology and physics. In 2014, Dow held more than 21,000 active patents all over the world.

We combine the size of a global leader and the responsiveness of a startup. With its innovation capabilities, Dow can bring the solutions the world needs to market quickly. Every year, we conduct two million scientific experiments in our laborato-ries and through cutting edge scientific partnerships. However we don’t just search: we find solutions!

In 2014, Dow launched 5,000 new prod-ucts, 10 times more than 10 years ago. The average time between experimental stage and commercial development has decreased from seven years to several months.

When the sports specialist UnderArmour approached Dow to develop a new rubber for its running shoes, it only took our laboratories 3 weeks to develop it!

Our researchers are frequently awarded prizes for solutions that improve our daily life: - PacXpert™, winner of the 2015 Innovation Trophies awarded by the Carrefour des fournisseurs de l’industrie agroalimentaire (CFIA), received a Sustainability Award from the magazine Packaging Europe in 2015.

- In 2014, for the 4th consecutive year, Dow is listed among the Thomson Reuters “Top 100 Global Innovators,” which identifies the world’s most inno-vative organizations.

- 21 Dow technologies are finalists for the 2015 R&D 100 Awards, called the

“Oscars of innovation” awarded by the American magazine R&D. These tech-nologies include BETAMATE™ structural automobile adhesive. In 2014, Dow had already won five R&D 100 Awards.

- In 2015, five Dow innovations won an Edison Award, celebrating innova-tions that “change the world,” such as the water soluble polymers in POLYOX™

water that make hygiene accessible to everyone in developing countries.

- In 2015, Dow researchers received a “Heroes of Chemistry” Award from the American Chemical Society for the INSITE™ catalyst, which facilitated the emergence of polymers with innovative properties, at the interface of plastic and rubber.

Innovation at the core of our DNA

Our Chauny site (Aisne) houses innovation laboratories for Dow Water & Process Solutions customers

FILMTEC™ ECO: cleaner water with less energy Today, one billion human beings do not have access to drinking water. In the next 20 years, the world’s needs for clean drinking water will increase by 50%. Faced with these global challenges, part of the solution lies in the ability to purify wastewater and to desali-nate sea water to make it drinkable.

However, until recently, these purification technologies consumed a lot of energy.Dow has solved the equation with its new reverse osmosis membrane FILMTEC™ ECO, which produced 40% purer water while using 30% less energy. In 10 years, FILMTEC™ ECO could prevent

the emission of 1,5 million tons of CO2 and save billions of KWh of energy, while at the same time making access to drinking water easier in arid regions.

6200 researchers worldwide

About 200 scientists in France

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We combine the know-how of our scientists and technicians, our technological capital and cutting-edge facilities to create dynamic innovation capabilities in France. New products, new applications, new processes: innovation takes many diff erent forms, but always involves close cooperation with our customers.

France, a lan d � in nov ati on for Dow

Valbonne-Sophia Antipolis Innovation Center Alpes-Maritimes (06)

The ongoing relationship between our innovation center and our cus-tomers, production units, regional scientifi c institutes and universi-ties make our Valbonne-Sophia Antipolis a privileged intersection of technological exchanges.

The center, which celebrated its 40th anniversary in 2015, brings together four European develop-ment and industrial applications laboratories, as well as the techni-cal support center for a number of the group’s businesses: Dow Coat-ing Materials (paints and coatings), Dow Plastic Additives (additives

for plastics), Packaging & Specialty Plastics (adhesives and functional materials) and Home, Institutional & Personal Care (detergents and cosmetics). The site also operates a natural climate exposure station in the foothills of the Southern Alps, an ideal location for studying the aging of coatings or plastics.

In 2014 and 2015, Dow carried out extensive renovation and reorganization work that in-creased its accommodation capacity, and in particular made it possible to house part of the marketing and sales departments,

as well as certain support func-tions for Dow AgroSciences, Dow’s agricultural business.

Chauny laboratories Aisne (02)

Located at the Chauny manufacturing site, the Dow Water & Process Solutions laboratories work to develop ion-exchange resins and adsor-bent resins applications, provide technical support for customers and quality control. The recent innovations of the Chauny laboratories in-cluded pharmaceutical applications, with the development in 2014 and 2015 of innovative excipients for customers based in the United States.

Our experts are active participants at technical seminars all over the world in order to share their experience and further research concern-ing water purifi cation technologies. They also provide expertise about the state of the resins currently used by our customers in order to optimize their facilities and industrial processes. Close to 1,000 samples are analyzed each year, primarily for Europe, but also for cutting-edge applications all around the world: from micro-electronics to the nucle-ar industry or catalysis.

The Dow Water & Process Solutions laboratory in Chauny.

INNOVATOR

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Drusenheim laboratories Bas-Rhin (67)

At our Drusenheim site, laboratories house the Research and Development activities for the phytopharmaceutical products of Dow AgroSciences. Our scientists specialize in the develop-ment of new formulations, innovative processes and application technologies for our customers’ crops. The laboratories on site also provide quality control for the products manufactured and formulated by the site. With close to 40 new formulations that will reach the market in the next five years, the Dow AgroSciences innovation pipeline is today one of the most robust in its history. It directly bene-fits the Drusenheim site, which recently invested close to 9 million euros in the construction of a new 200-liter sample formulation laboratory scheduled to begin operating in late 2015, and in expanding the capacity of its packaging line.

Erstein laboratories Bas-Rhin (67)

In addition to the manufacturing units, the Erstein production site also houses laboratories in which the Dow Polyurethanes scientists work to develop polyurethane systems for different market segments in Europe, particularly adhesives, binders and hydrophilic prepolymers, and provide support and technical service for Dow Polyurethanes customers in France and in the Benelux countries.

Agricultural research stations In 2013 and 2014, we opened two research stations in France for our Dow Seeds business in Château-Renault (Indre-et-Loire) and in Carcarès-Sainte-Croix (Landes).

These two new facilities, specializing in the selection of conventional corn, rapeseed and sunflower seeds for the French and European markets, are an integral part of our inno-vation system in France. They house seed production research programs, experimen-tation with conventional varieties of corn, rapeseed and sunflowers and the production of pre-commercial corn and oil crop seeds.

FASTRACK™: an innovative solution for road markingThanks to the Dow Coating Materials FASTRACK™ technology, road marking is reducing its environmental impact. Water-based road paints formulated with the FASTRACK™ binders produced at our Lauterbourg site (Bas-Rhin) offer superior environmental performance compared to their conventional solvent-based alternatives: while drying, they emit distinctly fewer volatile organic compounds (VOC) while also offering exceptional technical performance, particularly in terms of whiteness, adhesion, wear resistance and drying speed.

The Dow AgroSciences laboratory in Drusenheim.

The Dow Polyurethanes laboratory in Erstein.

Dow Seeds produces innovative conventional seeds in France.

INNOVATOR

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Partner of the Strasbourg School of Chemistry, Poly-mers and Materials Sciences (ECPM)

Dow has been a privileged partner of the School of Chemistry, Polymers and Mate-rials Sciences (ECPM) of the University of Strasbourg since 2013. Sharing the same vision of excellence, this partnership allows us to attract the best talents from the trilingual (French, English, German) engineering graduates of the ECPM. By opening our doors to ECPM students, we contribute to their training, offering them an opportunity to become involved in the real world of work.

Partner of junior high schools…

Partnerships are also in place with the junior high schools of the cities where our principal production sites are located, particularly in Chauny (Aisne), Lauter-bourg and Drusenheim (Bas-Rhin). Within this frame-work, our employees join forces to promote the sciences through activities in an educational setting by using appealing and entertaining experiments conducted during class. We host junior high school students and their teachers at our sites during entreprise discovery weeks or visits designed to familiarize them with our industry.

…and of the Wissembourg High School In 2014, the Lauterbourg site (Bas-Rhin) signed a part-nership agreement with Stanislas High School in the neighboring city of Wissembourg, an agreement that was called exemplary by the different partners.

A wonderful opportunity for young boys and girls to discover our passion for our profession and for science, while allowing them to acquire skills that will make them the high-level professionals of tomorrow.

To respond through innovation to the major challenges of tomorrow such as access to water, to energy, to food or climate change, we must be able to count on the best scientists, chemists, engineers, operators and technicians. To develop the science into the future, tomorrow’s scientists will need a solid education today. It is necessary to bring business and the world of education together and for many years we have been working with associations that specialize in promoting science, and partnering with organisa-tions such as the French Department of Education, the Foundation for the House

of Chemistry, the French Chemical Industry Association (UIC) or the Move-ment of French Enterprises. Dow also carries on its own initiatives in France and all over the world in connec-tion with its STEM (Science, Technology, Engineering, Mathematics) program, which seeks to encourage young genera-tions to pursue science as a vocation. In France, this requires the regular support of teachers and the education of younger people, particularly in the communities where we are located. Therefore, we are building a network of motivated employees to share their knowledge and their experiences by becoming

involved in programs or giving talks at elementary schools, junior high schools, high schools, universities or any other organizations.

Committed partner of scientific education

The first-year engineering students of the School of Chemistry, Polymers and Materials Science (ECPM) of Strasbourg University visit the Drusenheim site (Bas-Rhin)

Jean-Philippe Meyer, Laurerbourg Site Leader, gives a short organic chemistry lesson to a student during a site visit.

Our colleague Jean-Marc Hénnard gives regular presentations to Lauter-bourg junior high school students.

Signing of the agreement with, from left to right, Mr. Alain Mineur, Permanent member of the Strasbourg Chamber of Commerce, Jean-Philippe Meyer, Director of the Dow Lauterbourg site, Mr. Schlick, Principal of the High School and Mr. Frédéric Reiss, Member of the French Parliament.

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Sponsor of the 2015 Chemical World Tour

For four years, the Chemical World Tour has sent several two-person

teams of students, one in chemistry, the other in journalism, to the

four corners of the globe to report on innovations in chemistry.

It is the team supported by Dow, Tina and Sylvain, that won the 4th

edition of the Chemical World Tour in 2014, thanks to their reporting

on BETAMATE™, a high-tech structural adhesive used in automobile

construction. An innovation that facilitates the use of light materials in

vehicles thus helping to reduce their weight, their energy consumption

and their carbon emissions. It was used in particular by the French

automotive manufacturer Renault to assemble EOLAB, its ultra

low-fuel consumption concept car.

Our commitment also finds its translations in our involvement in

national and regional educational programs such as the Spring for

Industry in Picardie, the Industry Week throughout France, the opera-

tion “The Bosses invite the Teachers”, “Show me your company” or The

Strasbourg Science Fair in Alsace, and the cross-border competition

Mathematics Without Borders.

Our colleague Gaël Buisson, Commercial Manager for Western Europe with Dow Automotive Systems, presented our solutions for the automotive industry during the Award Ceremony for the 2014 Olympiads at the House of Chemistry in Paris.

In 2015, Dow supported the two-person team made up of Tina Duarte-Monteiro, a student at the IEJ of Paris, and Sylvain Beaumont, an engineering student at ENSGTI.

INNOVATOR

Air Quality Forum of the Strasbourg University

As part of 2015 Industry Week, we took part in the “Air Quality Forum” organized by the Strasbourg School of Chemistry during which we presented our new generation FORMASHIELD™ acrylic binder that allow wall paints to help improve interior air quality by neutralizing some of the formaldehyde present in buildings.

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Historic of the French Chemistry Olympiads

Created in 1984 at the joint initiative of a teacher and an industrialist, the French Chemistry Olympiads are jointly organized by chemical companies, the Ministry of National Education, the French Chemical Society and the Union of Physics and Chemistry Teachers. From regional selection exams to the national finals, Dow is proud to have supported the Chemistry Olympiads in France for more than 25 years. In 2014, more than 2,000 youths competed during theo- retical and practical exams on the theme “Chemistry and Energy.”

sponsor

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118 years of industrial � st or y - including over 50 years in France

In 1897, Herbert H. Dow founds The Dow Chemical Company in Midland, USA. A pioneer in its fi eld, the group wants to expand its market worldwide quickly.

1995: Setting off a series of mergers and acquisi-tions in the pharmaceutical industry, Dow sells its pharmaceutical division Marion Merrell Dow to the German group Hoechst, which will merge with the French Rhône Poulenc to form Aventis in 1999, itself acquired by Sanofi in 2004.

1970: In Drusenheim, the STYROFOAM™ polystyrene foam production unit begins operating. It will soon be joined by the SARANEX™ and TRYCITE™ plastic fi lms units.

1969: After purchasing 150 hectares of land in Drusenheim (Bas-Rhin), Dow France obtains the operating permit to start production of veterinary specialties at the site.

1960: Establishment of the fi rst French subsidiary of the Dow Chemical Company, headquartered in the 8th district of Paris.

1997: Dow acquires all of the capital of the joint company Dow Elanco from the Eli Lilly group and renames this new subsidiary Dow AgroSciences.

1990: Dow Elanco establishes its European manufacturing center for phytopharmaceutical products at the Dow France site in Drusenheim.

1993: The production sites in Drusenheim, France and Rheinmünster, Germany merge creating the fi rst cross-border chemical site in Europe, the Dow Rhine Center.

In 1942, Dow establishes in Canada.

1963: Dow France welcomes its fi rst customer and receives its fi rst order.

1989: Dow’s phytosanitary branch merges with the phytosanitary branch of Eli Lilly, forming the joint company Dow Elanco.

2009: To accelerate its transformation, Dow acquires the American chemical group Rohm and Haas. In France, three production sites in Chauny (Aisne), Lauterbourg (Bas Rhin), and Villers-St-Paul (Oise) and an innovation center in Sophia Antipolis (Alpes Maritimes) strengthen Dow’s presence.

1978: Dow decides to leave Paris. A participant in the adventure of creating the Sophia Antipo-lis Technology Park, Dow France moves to Nice, then permanently to Valbonne.

2001: Dow acquires the American group Union Carbide, the company Gurit-Essex – which will join the Dow Automotive Systems business – and the subsidiary STAC (polyurethane) from the Italian group EniChem. The Erstein (Bas-Rhin) site joins Dow France at this time.

2013: Dow celebrates the 50th anniversary of Dow France.

2014: Dow France consolidates its presence in southern France by increasing the accommo-dation capacities of its European laboratories located in the Sophia Antipolis Technology Park, which now brings together scientifi c, sales and administrative teams serving fi ve Dow businesses.

Phone: +33 (0) 1 49 21 78 78Fax: +33 (0) 1 49 21 79 79E-mail: fprdfic@dow.com

Website: www.dow.fr Twitter: @Dow_fr

Dow France S.A.S. 23 Avenue Jules Rimet93631 La Plaine St Denis Cedex, France

Update:October 2015

Responsible Care® program®Responsible Care is a service mark of The American Chemistry Council in the United States and of the European Chemical Industry Council (Cefic) in Europe.

Form Nr. EUR 131 001011015CC

Disclaimer: References to “Dow” or the “Company” mean the Dow legal entity selling the products to Customer unless otherwise expressly noted. For more information about Dow, please refer to www.dow.fr

Disclaimer: Although the information and recommendations provided in this presentation (“in-formation”) are given in good faith and are considered correct, The Dow Chemical Company makes no declaration or warranty as to the completeness or the correctness of the information.

The information is supplied under the condition that the reader is responsible for determining whether products and the information in this document are appropriate for a specific need. The products and information shown in this document may not be available for sale and/or available in all geographies where Dow is represented. The claims made may not have been approved for use in all countries. Dow assumes no obligation or liability for the information in this document.

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The Human Element At Work.