Eastman Q1 Report 2023

• Demonstrated the strength of our specialty products and commercial excellence by holding prices stable to fourth quarter despite weak demand and continued inventory destocking
• Issued first investment grade USD-denominated senior unsecured green bond offering by a U.S. issuer in the
  chemical sector
• Made strong progress across all three of our methanolysis projects
• Continued adoption of Eastman Renew materials ahead of startup of Kingsport methanolysis facility later this year
• Acquired Ai-Red Technology (Dalian) Co., Ltd., a manufacturer and supplier of paint protection and window film for auto and architectural end markets in the Asia Pacific region

Corporate Segment

1Q23 vs. 1Q22 highlights

• Higher selling prices more than offset higher raw material, energy, and distribution costs
• Stable demand in several end markets, including automotive and agriculture
• Continued weak primary demand and customer inventory destocking across some end markets, particularly consumer durables, building and construction, water treatment, and personal care
• Lower manufacturing costs
• $25 million negative impact from foreign currency