Dow Announces Agreement to Sell its 50% Ownership in DowAksa Joint Venture

• Dow agrees to sell its 50% interest in DowAksa Advanced Composites Holdings BV (DowAksa) to its 50/50 joint venture partner Aksa Akrilik Kimya Sanayii A.Ş.
• Proceeds will be used to support Dow's balanced capital allocation approach

MIDLAND, Mich., June 2, 2025 /PRNewswire/ -- Dow (NYSE: DOW) today announced that it has signed a sale and purchase agreement to sell its 50% interest in DowAksa Advanced Composites Holdings BV (DowAksa) to Aksa Akrilik Kimya Sanayii A.Ş., a company of Akkök Holding. Aksa Aksa Akrilik Kimya Sanayii A.Ş., the other 50% joint venture partner, has agreed to acquire Dow's 50% interest. Dow's proceeds from the sale are expected to be $125 million, which reflects, after accounting for debt, an enterprise value of approximately 10x the estimated 2025 operating EBITDA.

Dow's decision to exit the joint venture, which was formed in 2012, is consistent with Dow's best-owner mindset strategy of focusing on its core, high-value downstream businesses. The proceeds from the transaction will be used to support the Company's balanced capital allocation approach.

The sale is expected to close in the third quarter of 2025, subject to customary regulatory approvals and other closing conditions.

BNP Paribas acted as exclusive financial advisor to Dow on this transaction.

About Dow
Dow (NYSE: DOW) is one of the world's leading materials science companies, serving customers in high-growth markets such as packaging, infrastructure, mobility and consumer applications. Our global breadth, asset integration and scale, focused innovation, leading business positions and commitment to sustainability enable us to achieve profitable growth and help deliver a sustainable future. We operate manufacturing sites in 30 countries and employ approximately 36,000 people. Dow delivered sales of approximately $43 billion in 2024. References to Dow or the Company mean Dow Inc. and its subsidiaries. Learn more about us and our ambition to be the most innovative, customer-centric, inclusive and sustainable materials science company in the world by visiting www.dow.com.

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Glynna Mayers                                                         
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SOURCE The Dow Chemical Company