Dow PDH Unit Completes Performance Test

MIDLAND, Mich. - March 07, 2016 - The Dow Chemical Company (NYSE: DOW) today announced that its new world-scale propane dehydrogenation unit (PDH), located at the Company’s Oyster Creek site in Freeport, Texas, successfully completed the performance test, certifying that the unit is operating at full capacity, and is meeting the Honeywell UOP Oleflex™ performance guarantee. The new 750 KTA facility began commercial operations in December 2015 and completed the performance test in less than two months.

These milestones represent progress of Dow’s comprehensive investment plan to further connect its U.S. operations with cost-advantaged feedstocks from increasing supplies of U.S. shale gas and deliver long-term competitive advantage for Dow’s Performance Materials, Consumer and Infrastructure Solutions businesses.

“Dow’s world-scale PDH unit has reached full rates and passed acceptance testing in record time,” said Jim Fitterling, Dow’s president and chief operating officer. “The unit enables the replacement of purchased propylene with cost-advantaged production that will ultimately enable growth in attractive markets across North and South America. The timing of Dow’s strategic growth investments on the U.S. Gulf Coast has afforded us first-mover advantage.”

Dow also continues to make significant progress on its world-scale ethylene unit, supporting infrastructure and the derivative investments aligned to the Company's Performance Plastics franchise, located at Dow sites across the U.S. Gulf Coast. The completion of the Performance Plastics derivative investments will be synchronized with the new ethylene unit.

“The successful start-up of UOP’s Oleflex unit at Dow’s Gulf Coast facility is a major milestone in our ability to provide world-class technology that enables companies like Dow to use domestic shale gas resources to produce key petrochemicals in the U.S.,” said Mike Millard, vice president and general manager of Honeywell UOP’s Process Technology and Equipment business. “In addition to technology licensing, UOP provided the basic engineering design, modular CCR, control systems, catalyst, adsorbent and start-up services for the unit, which reached acceptance in record time.”

About Dow

Dow (NYSE: DOW) combines the power of science and technology to passionately innovate what is essential to human progress. The Company is driving innovations that extract value from material, polymer, chemical and biological science to help address many of the world's most challenging problems such as the need for clean water, clean energy generation and conservation, and increasing agricultural productivity. Dow's integrated, market-driven, industry-leading portfolio of specialty chemical, advanced materials, agrosciences and plastics businesses delivers a broad range of technology-based products and solutions to customers in approximately 180 countries and in high-growth sectors such as packaging, electronics, water, coatings and agriculture. In 2015, Dow had annual sales of nearly $49 billion and employed approximately 49,500 people worldwide. The Company's more than 6,000 product families are manufactured at 179 sites in 35 countries across the globe. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com.

About UOP

Honeywell Performance Materials and Technologies (PMT) is a global leader in developing advanced materials, process technologies and automation solutions. PMT’s Advanced Materials businesses manufacture a wide variety of high-performance products, including environmentally friendlier refrigerants and materials used to manufacture end products such as bullet-resistant armor, nylon, computer chips and pharmaceutical packaging. Process technologies developed by PMT’s UOP business (www.uop.com) form the foundation for most of the world’s refiners, efficiently producing gasoline, diesel, jet fuel, petrochemicals and renewable fuels. PMT’s Process Solutions business (www.honeywellprocess.com) is a pioneer in automation control, instrumentation and services for the oil and gas, refining, pulp and paper, industrial power generation, chemicals and petrochemicals, biofuels, life sciences, and metals, minerals and mining industries. Honeywell (www.honeywell.com) is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes, and industry; turbochargers; and performance materials. For more news and information on Honeywell, please visit www.honeywellnow.com.

For editorial information

Sarah Blodgett
+1 989 636 9323
SSBlodgett@dow.com

Ann Duhon
+1 281 966 4413
ADuhon@dow.com