ASHLAND INC. — Director's Dealing 2026

Jan 22, 2026

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ASHLAND INC. (ASH)
CIK: 0001674862
Period of Report: 2026-01-20

Reporting Person: Kulkarni Ashish K (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2026-01-21	Common Stock	M	2113	—	Acquired	2113	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2026-01-20	Restricted Stock Units	$	A	2449	Acquired		Common Stock (2449)	Direct
2026-01-21	Restricted Stock Units	$	M	2113	Acquired		Common Stock (2113)	Direct

Footnotes

F1: Represents January 21, 2026 vesting of 2,113 restricted stock units granted on January 21, 2025, pursuant to Ashland's Omnibus Incentive Plan. Each unit represents the right to acquire one share of Common Stock. Balance includes additional Restricted Stock Units acquired in lieu of cash dividends.

F2: Each Restricted Stock Unit (RSU) represents a right to receive one (1) share of Ashland Common Stock.

F3: Grant of stock-settled Restricted Stock Units granted under the Ashland Inc. Omnibus Incentive Plan. The Restricted Stock Units will vest one year after the grant date.

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