DOW INC

NOTE 10 –NOTES PAYABLE, LONG-TERM DEBT AND AVAILABLE CREDIT FACILITIES

1. Cost includes net fair value hedge adjustment gains of $42 million at March 31, 2024 ($49 million at December 31, 2023). See Note 17 for additional information.

2. See Note 12 for additional information.

3. Presented net of current portion of unamortized debt issuance costs.

2024 Activity

In the first quarter of 2024, the Company issued $1.25 billion of senior unsecured notes. The offering included $600 million aggregate principal amount of 5.15 percent notes due 2034 and $650 million aggregate principal amount of 5.60 percent notes due 2054. The issuance was completed under the Company's Green Finance Framework. The Company will distribute the proceeds toward projects that support the execution of its sustainability strategy and achieve its targets focused on climate protection and a circular economy, including applicable expenditures and investments related to the Company's Fort Saskatchewan Path2Zero project.

In the first quarter of 2024, the Company issued an aggregate principal amount of $9 million of InterNotes®. The Company also issued $122 million of foreign currency loans. Additionally, the Company repaid $63 million of long-term debt.

Available Credit Facilities

The following table summarizes the Company's credit facilities:

Debt Covenants and Default Provisions

There were no material changes to the debt covenants and default provisions related to the Company's outstanding long-term debt and primary, private credit agreements in the first three months of 2024. For additional information on the Company's debt covenants and default provisions, see Note 13 to the Consolidated Financial Statements included in the 2023 10-K.