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ASHLAND INC.

For the period ended Dec 9, 2025. Filed Dec 9, 2025.

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About this filing

What shareholders are asked to vote on at a company's meeting. It is where to find what directors and top executives are paid, and who owns the most shares.

Dec 9, 2025 · Filed Dec 9, 2025

Use the contents to explore the available documents and sections.

ASH$76.62+0.4%Stored close · as of Nov 6, 2026
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2026 proxy statement / i

strategic and innovation progress•Completed portfolio optimization, including the sale of the Avoca business, sharpening focus on high-value markets where Ashland holds technology and commercial leadership -- personal care, pharmaceuticals, and coatings.•Delivered $30 million in restructuring savings and advanced a $60 million manufacturing network optimization program, with additional productivity opportunities under evaluation. •Accelerated globalization investments, expanding global applications labs and advanced manufacturing capabilities to improve speed-to-market and strengthen regional innovation. •Drove innovation-led growth, advancing seven new technology platforms that build sustainable differentiation with flexibility to repurpose assets for future scale. sustainability and safety leadership•Continued progress towards our Science Based Targets (SBTi) for scope 1, 2, and 3 emissions reduction aligned with the Paris Climate Accord Agreement 1.5° C trajectory. •The year ended at a Total Preventable Recordable incident Rate of 0.41 incidents per 100 employees continuing to demonstrate our commitment to keeping employees safe.•Increased transparency and progress toward our sustainability commitments in climate action, water stewardship, and responsible sourcing.looking aheadAs we enter fiscal 2026, Ashland remains focused on executing its strategy to drive profitable growth, operational excellence, and sustainable value creation. We will continue to:•Invest in differentiated technologies and high-growth market segments. •Advance our sustainability agenda and reduce our environmental footprint. •Maintain a disciplined capital-allocation approach that balances investment, stockholder returns, and balance-sheet strength.•Foster a culture of inclusion, accountability, and continuous improvement across our global organization. Thank you for your continued investment in Ashland. We will work every day to continue to earn your trust. Sincerely,
Guillermo NovoChair and Chief Executive OfficerDecember 9, 2025

notice of 2026 annual meeting of stockholders

The 2026 Annual Meeting of Stockholders (the “Annual Meeting”) of Ashland Inc., a Delaware corporation (“Ashland” or the “Company”), will be held virtually at 10:30 a.m., Eastern Standard Time, on Tuesday, January 20, 2026. The Annual Meeting will be held online via live webcast for the purposes listed below:

where:Virtual meeting via live webcast at www.virtualshareholdermeeting.com/ASH2026There will be no physical location for the Annual Meeting.
items of business:(1)To elect eight directors to hold office until the next annual meeting of stockholders and until each of their successors has been elected and qualified;
(2)To ratify the appointment of Ernst & Young LLP as the Company's independent registered public accounting firm for fiscal 2026;
(3)To consider and vote upon a non-binding advisory resolution approving the compensation paid to the Company's named executive officers; and
(4)To consider any other business properly brought before the Annual Meeting or any adjournment thereof.
who can vote:Only stockholders of record at the close of business on November 21, 2025 are entitled to notice of and to vote at the Annual Meeting.

you can vote using one of the following methods:

INTERNET. If you received a Notice of Internet Availability of Proxy Materials, you can access our proxy materials and vote online. Instructions to vote online are included in the Notice.

TELEPHONE. Call the telephone number specified on your proxy card or visit the website on the Notice of Internet Availability of Proxy Materials to vote.

MAIL. If you received paper copies of your proxy materials in the mail, sign, date and return your proxy card in the enclosed envelope provided to vote.

If you participate in the Ashland Employee Savings Plan (“Employee Savings Plan”), the Ashland Union Employee Savings Plan (“Union Plan”) or the International Specialty Products Inc. 401(k) Plan (the “ISP Plan”), your vote will instruct the plan trustee, Fidelity Management Trust Company (the “Trustee”), how to vote the shares in your account. Voting instructions for plan participants must be received by our proxy tabulator, Alliance Advisors LLC or its agent by 5:00 p.m. (EST) on Wednesday, January 14, 2026.

By Order of the Board of Directors,

Robin E. Lampkin

Senior Vice President, General Counsel and Secretary

Wilmington, Delaware

December 9, 2025

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.