ASHLAND INC

Ashland always solving PROXY Ashland Inc. 2025 Annual Meeting of Stockholders Tuesday, January 21, 2025, at 10:30 a.m. Eastern Time For Stockholders of record as of November 25, 2024 THIS PROXY IS SOLICITED BY THE BOARD OF DIRECTORS The undersigned stockholder hereby appoints Guillermo Novo and Robin E. Lampkin, or either of them, as proxies, each with the power to appoint a substitute, and hereby authorize them to represent and vote, as designated on the reverse side of this ballot, all shares of Common Stock of Ashland Inc. (the “Company”) held of record by the stockholder at the close of business on November 25, 2024 at the 2025 Annual Meeting of Stockholders to be held at 10:30 a.m. Eastern Time on Tuesday, January 21, 2025, virtually, and any adjournment or postponement thereof. The Board of Directors recommends a vote FOR each of the nominees for director described in Proposal One and a vote FOR Proposals Two and Three. The proxy holders are authorized to vote, in accordance with their discretion, on all matters incident to the conduct of the meeting and upon other matters as may properly come before the meeting or any adjournment or postponement thereof, subject to compliance with Rule 14a-4(c) of the Securities Act of 1934, as amended. This proxy, when properly executed, will be voted in the manner directed herein. If no such direction is made, this proxy will be voted in accordance with the Board of Directors’ recommendations (Continued and to be marked, dated, and signed on the other side) PLEASE DETACH ALONG PERFORATED LINE AND MAIL IN THE ENVELOPE PROVIDED. If you hold shares in any Employee Stock Purchase Plan, or 401(k) savings plan of the Company (the “Plans”), then this proxy card, when signed and returned, or your telephone or Internet proxy, will constitute voting instructions on matters properly coming before the Annual Meeting and at any adjournments or postponements thereof in accordance with the instructions given herein to the trustee for shares held in any of the Plans. Shares in each of the Plans for which voting instructions are not received by 5:00 p.m., Eastern Time, January 15, 2025, or if no choice is specified, will be voted by an independent fiduciary. You are encouraged to specify your choice by marking the appropriate box (SEE REVERSE SIDE), but you need not mark any box if you wish to vote in accordance with the Board of Directors’ recommendation. The named proxies cannot vote your shares unless you sign (on the reverse side) and return this card. Annual Meeting to be held live via the Internet – please visit web.view proxy.com/ash/2025 for more details

Please mark your votes like this ☒The Board of Directors recommends a vote FOR each of the nominees for director described in Proposal One, and a vote FOR Proposals Two and Three. Proposal One: Election of Directors. NOMINEES: FOR AGAINST ABSTAIN (1) Steven D. Bishop (2) Sanat Chattopadhyay (3) Suzan F. Harrison (4) Ashish K. Kulkarni (5) Susan L. Main (6) Guillermo Novo (7) Sergio Pedreiro (8) Jerome A. Peribere (9) Scott A. Tozier Proposal Two: Ratification of the appointment of Ernst & Young LLP as Ashland's independent registered public accounting firm for the fiscal year 2025. FOR AGAINST ABSTAIN Proposal Three: Approval of the non-binding advisory resolution approving the compensation paid to Ashland's named executive officers. FOR AGAINST ABSTAIN Note: To consider any other business properly before the meeting.DO IN THIS AREA (Stockholder Name & Address Data) Authorized Signatures – Must be completed for your instructions to be executed. Please sign exactly as your name(s) appears on your account. If held in joint tenancy, all persons should sign. Trustees, administrators, etc., should include title and authority. Corporations should provide full name of corporation and title of authorized officer signing the Proxy/Vote Form. Address Change/Comments: (If you noted any Address Changes and/or Comments above, please mark box.) Date Signature (and Title, if applicable) Signature (if held jointly) CONTROL NUMBER PLEASE DETACH ALONG PERFORATED LINE AND MAIL IN THE ENVELOPE PROVIDED.  PROXY VOTING INSTRUCTIONS Please have your 11-digit control number ready when voting by Internet or Telephone You must register to attend the Annual Meeting online and/or participate at web.viewproxy.com/ash/2025 INTERNET Vote Your Proxy on the Internet: Before the Annual Meeting: Go to www.AALvote.com/ASH. Use the Internet to vote your proxy and for electronic delivery of information up until 11:59 p.m. Eastern Time on January 20, 2025 (or 5:00 p.m. Eastern Time on January 15, 2025 for Plan participants). During the Annual Meeting: Go to web.viewproxy.com/ash/2025. You may attend the Annual Meeting via the Internet and vote during the Annual Meeting. Have your proxy card available when you access the above websites. Follow the prompts to vote your shares. TELEPHONE Vote Your Proxy by Phone: Call 1-866-804-9616 Use any touch-tone telephone to vote your proxy up until 11:59 p.m. Eastern Time on January 20, 2025 (or 5:00 p.m. Eastern Time on January 15, 2025 for Plan participants). Have your proxy card available when you call. Follow the voting instructions to vote your shares MAIL Vote Your Proxy by Mail: Mark, sign, and date your proxy card, then detach it, and return it in the postage-paid envelope provided.