DOW INC. — Director's Dealing 2021

May 5, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: DOW INC. (DOW)
CIK: 0001751788
Period of Report: 2021-05-03

Reporting Person: Sreeram Attiganal N (Senior Vice President / CTO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-05-03	Common Stock	M	15311	$50.07	Acquired	90110	Direct
2021-05-03	Common Stock	D	12998	$64.775	Disposed	77112	Direct
2021-05-03	Common Stock	M	43393	$54.89	Acquired	120505	Direct
2021-05-03	Common Stock	D	39679	$64.722	Disposed	80826	Direct
2021-05-03	Common Stock	M	30563	$48.30	Acquired	111389	Direct
2021-05-03	Common Stock	D	26201	$64.748	Disposed	85188	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-05-03	Non-Qualified Stock Option (Right to Buy)	$50.07	M	15311	Disposed	2025-02-13	Common Stock (15311.0)	Direct
2021-05-03	Non-Qualified Stock Option (Right to Buy)	$54.89	M	43393	Disposed	2029-02-11	Common Stock (43393.0)	Direct
2021-05-03	Non-Qualified Stock Option (Right to Buy)	$48.3	M	30563	Disposed	2030-02-13	Common Stock (30563.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	41296	Indirect
Common Stock	202.0927	Indirect
Common Stock	1061.2062	Indirect

Footnotes

F1: Shares used to satisfy the exercise price and tax withholding of the Reporting Person upon exercise of options as required by the award agreement and exempt under Rule 16b-3. The net shares were not sold.

F2: The price is a weighted average sale price. The shares were sold in multiple transactions at prices ranging from $64.77 to $64.78. Reporting Person agrees to provide upon request by the Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.

F3: The price is a weighted average sale price. The shares were sold in multiple transactions at prices ranging from $64.70 to $64.76. Reporting Person agrees to provide upon request by the Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.

F4: The price is a weighted average sale price. The shares were sold in multiple transactions at prices ranging from $64.74 to $64.76. Reporting Person agrees to provide upon request by the Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.

F5: This option granted in February 2015 is fully vested and exercisable.

F6: This option granted in April 2019 vests in three equal installments beginning on February 11, 2020. The first and second installments are fully vested and exercisable.

F7: This option granted in February 2020 vests in three equal installments beginning on February 13, 2021. The first installment is fully vested and exercisable.