ASHLAND INC. — Director's Dealing 2026

Jan 5, 2026

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ASHLAND INC. (ASH)
CIK: 0001674862
Period of Report: 2025-12-31

Reporting Person: Chattopadhyay Sanat (N/A)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-12-31	Common Stock Units	$	A	245	Acquired		Common Stock (245)	Direct

Footnotes

F1: 1 for 1

F2: Common Stock Units acquired pursuant to Ashland's Deferred Compensation Plan for Non-Employee Directors (the "Plan") and exempt under Rule 16b-3. (One (1) Common Stock Unit in the Plan is the equivalent of one (1) share of Ashland Common Stock.)

F3: Subject to any deferral election on timing of distribution by the reporting person under the Plan, the Common Stock Units are payable in Common Stock upon the reporting person's separation from service as a director.

F4: Balance includes additional Common Stock Units acquired in lieu of cash dividends.