ASHLAND INC

Securities Trading Plans of Directors and Executive Officers

On May 13, 2024, J. Kevin Willis, Ashland’s Senior Vice President, Chief Financial and Principal Financial Officer, entered into a Rule 10b5-1 trading arrangement, to exercise up to 24,672 stock appreciation rights related to Ashland’s common stock and the concurrent sale of all shares of Common Stock acquired upon such exercise. The duration of the trading arrangement is until the earlier of (1)December 31, 2024, (2) the date on which all transactions under the trading arrangement are completed, or (3) at such time as the trading arrangement is otherwise terminated or expires according to its terms.

Ashland Securities Trading Plans

On May 13, 2024, Ashland Inc. entered into a Rule 10b5-1 trading arrangement to repurchase Ashland Common Stock under its 2023 Stock Repurchase Program in the aggregate dollar amount of $100 million. The trading arrangement was intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act. The trading arrangement terminated in June 2024 upon the completion of the purchase of $100 million shares of Ashland Common Stock.

On June 17, 2024, Ashland Inc. entered into a Rule 10b5-1 trading arrangement to repurchase Ashland Common Stock under its 2023 Stock Repurchase Program in the aggregate dollar amount of $30 million. The trading arrangement was intended to satisfy the affirmative defense of Rule 10b5-1(c) under the Exchange Act. The trading arrangement terminated in June 2024 upon the completion of the purchase of $30 million shares of Ashland Common Stock.