Modified · OVERVIEW

Results from continuing operations for the firstsecond quarter of 2026 increased compared to the fourthfirst quarter of 2025. During the fourth quarter of 2025 we recognized last-in, first-out (“LIFO”) inventory valuation charges of $107 million primarily in 2026, reflecting improved margins due to industry supply constraints as the conflict in the Middle East extended into the second quarter. In our Olefins and Polyolefins-Americas (“O&P-Americas”) and Intermediates and Derivatives (“I&D”) segments. In our O&P-Americas segment, results improved relative to the prior quarter as lower feedstock costs on expanding margins and accelerating product prices benefited integrated polyethylene margins. Tightening favorable co-product pricing due to tighter global market conditions supported higher polyethylene prices in both domestic and export marketssupply. In our Our Olefins and Polyolefins-Europe, Asia, International (“O&P-EAI”) segment, a combination of reduced imports and improved seasonal demand drove higher prices also benefited from improved polymer spreads, driven by supply chain disruptions and volumes. In our I&D segmentstronger joint venture contributions. Additionally, propylene oxide and derivatives margins strengthened with improved pricing and increased demand. A delayed restart the second quarter results reflected a $734 million loss on the disposition of the La Porte acetyls select European assets impacted first quarter profitabilityand the associated businesses. In oxyfuels, margins compressed due to lower gasoline cracks and octane premiums while volumes were impacted by an outage at Our Intermediates and Derivatives (“I&D”) segment delivered higher earnings driven by improved margins across all businesses, partially offset by the Bayport PO/TBA site that began unplanned outage during the quarter; Bayport was successfully restarted in MarchJune 2026.