Modified · STATEMENT ON MIDDLE EAST CONFLICT

During the first quarter of 2026, heightened geopolitical tensionsinstability in the Middle East impacted conditions in , including the conflict involving Iran, Israel, and around the United States and related tensions affecting maritime transit through the Strait of Hormuz, a critical maritime area through which a significant portion has disrupted global energy and petrochemical supply chains. The Strait of global Hormuz remains a critical shipping corridor for crude oil, refined products, and related natural gas, and chemical feedstocks are transported. The current conflictAlthough the intensity and geopolitical conditions in nature of the Middle East conflict have impacted the global chemical industry, resulting in damage to upstream oil changed over time and diplomatic efforts continue, periodic security incidents, shipping restrictions and gas infrastructure and logistics challenges in the geographic region. The uncertainty regarding access to regional ports and trade routes have continued to affect global supply chain disruptionsmarkets. These conditions have ledcontributed to supply constraints volatility in Asia Pacific energy and Europefeedstock prices, disruptions to regional production and lengthened logistics networks, longer transit times , and shifts in global trade flows as production has increased in other regionsand sourcing have been rebalanced to compensate for alternative regions. As a result, portions of the global chemical industry have experienced supply constraints, increased transportation and operating costs, and reduced production supply chain reliability, particularly in the Middle EastAsia Pacific and Europe. Additionally, the Company's joint ventures located in the Middle East have been directly impacted by the conflict.