ASHLAND INC. — Director's Dealing 2025

Jan 23, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ASHLAND INC. (ASH)
CIK: 0001674862
Period of Report: 2025-01-21

Reporting Person: Pedreiro Sergio (N/A)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-01-21	Restricted Stock Units	$	A	2050	Acquired		Common Stock (2050)	Direct

Footnotes

F1: Each Restricted Stock Unit (RSU) represents a right to receive one (1) share of Ashland Common Stock.

F2: Grant of stock-settled Restricted Stock Units granted under the Ashland Inc. Omnibus Incentive Plan. The Restricted Stock Units are deferred at the election of the Reporting Person under the Ashland Inc. Deferred Compensation Plan for Non-Employee Directors until retirement from service as a director. The Restricted Stock Units will vest one year after the grant date. One (1) Restricted Stock Unit in the Ashland Inc. Deferred Compensation Plan for Non-Employee Directors is the equivalent of one (1) share of Ashland Common Stock.

F3: Balance includes additional Restricted Stock Units acquired in lieu of cash dividends.