Think Energy Solutions. Think Dow.Your solutions provider and innovation partner

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 2

Powering Success

One of the largest energy-consuming companies and energy power producers with a proven track record of industrial energy efficiency

Delivering Solutions

Global leader in applied materials, science and technology for the power, gas and oil sectors

Leading Innovation

Premier provider and innovator of products and solutions across all energy sector value chain components

Expanding the Conversation

Strong advocate and voice on energy matters related to public policy

Dow Brings…

• Applied material solutions that increase the efficiency and safety – and extend the life cycle – for pipes, wires, wind blades, turbines and fluids

• High-performance materials and fluids that can help reduce utilities’ operating expenses for generation, transmission and distribution

• Trusted solutions for the building sector, delivering comfort, wellness and energy efficiency to utilities customers

• A single source for solutions to address today’s challenges and innovation needed for the future

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 3

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 4

Your challenges fuel our solutions

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 5

• $1.6 billion invested in R&D in 2009

• 20% of R&D budget invested in energy-related products

• $4 billion in sales to the energy industry – and growing

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 6

Reducing energy intensity

Between 1990 and 2005 Dow reduced its energy intensity by 38 percent and has pledged to reduce energy intensity another 25 percent by 2015

• Dow is partnering with the U.S. DOE Industrial Technologies Program as a Save Energy Now leader

Saving energy and reducing greenhouse gas emissions

Since 1994, Dow has saved over 1,700 trillion BTU of energy and reduced absolute greenhouse gas emissions by 20 percent

Incorporating alternative energy sources

Dow is incorporating alternative energy sources in its own operations:

• Carbon capture and reuse at ethylene oxide plant in Plaquemine, Louisiana

• Solar energy farm at Pittsburg, California, facility

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 7

Challenge SolutionEnergy losses in home and business Differentiated products and systems to protect against air and

moisture and improve energy efficiency

Reliability of gas and water distribution pipes Excellent crack-resistant polyethylene pressure pipe material that enhances safety and extends asset life – 100+ year predicted lifetime

Gas turbine reliability Lubricants that reduce varnishing and costly shutdowns of gas turbines

Affordability and accessibility of solar-powered technology

Easy-to-install building integrated photovoltaic roofing shingles for power generation and weatherization

Traditional insulation materials Fiberglass-free, itch-free and formaldehyde-free insulation materials with high recycle content

Wind turbine reliability, efficiency and constructability Fluids, epoxy resins, core foam, blade manufacturing and grid integration technologies, enhancing adoptability

Enhancing life of transmission and distribution cable systems

Long-life, low-lifecycle-cost cable solutions and undergrounding cable insulation and related materials

Sustainable advanced wire and cable system technologies

Bio-based PVC plasticizers; natural transformer oils; halogen-free compounds for wire insulation – expanding portfolio of differentiated technologies that advance market acceptance

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 8

Generation Transmission Distribution ConsumptionConsumption

Generation• Nuclear – HDPE resins for nuclear low- and non-pressure cooling water pipes• Gas – Flexible, no-corrosion, no-leak, easy-installation plastic pipe solutions• Coal – Advanced amines for CO2 capture; flue gas treating• Wind – Lubricants and fluids to broaden operating range of wind turbines; epoxy coatings and core materials for turbine blades; blade manufacturing and grid integration technologies• Solar – Heat transfer fluids; engineering consulting and technical support; solar shingles• Oil and Gas Exploration – Low-friction collection and transfer pipes

• Water Treatment – Technologies and techniques for all heat-cycle generation types• Wire and Cable – Advanced materials and technologies for power generation plants and renewables

Using the science and technology of applied chemistry, Dow offers solutions for every segment.

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 9

Transmission and Distribution• Plastics – MDPE and HDPE resins for gas, oil and water distribution pipelines; resins for gas and conduit pipe; electrical components

• Power Delivery Components – Consistent, high-quality resins, fully formulated compounds and full polymeric components for low to extra high voltage and underground transmission and distribution cables; natural transformer oils; bio-based PVC plasticizers

• Composite Pipe – Reinforced HDPE pipe for higher pressure transmission and distribution pipelines

Generation Transmission Distribution ConsumptionConsumption

Using the science and technology of applied chemistry, Dow offers solutions for every segment.

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 10

Consumption• Solar shingles• Trusted insulation and sealant brands (e.g., STYROFOAM™, THERMAX™, SAFETOUCH™, GREAT STUFF™, FROTH-PAK™)• Materials for cool roofs• Chemicals for wide range of energy-saving and sustainable construction materials• Water treatment for building infrastructure

Generation Transmission Distribution ConsumptionConsumption

Using the science and technology of applied chemistry, Dow offers solutions for every segment.

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 11

Wind Turbines

Clean Coal

Solar Power

Gas Turbines

Emerging Trends

Nuclear

Water Treatment

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 12

Challenge Solution• Use water more efficiently

• Better use of coal

• Zero discharge; reuse

• Energy/thermodynamic efficiency

• Alternative energy solutions

• Non-traditional water sources

• Nuclear wastewater

• Proven solutions for corrosion control

• Design, operation and support/warranty services

• World-class components and unparalleled expertise addressing water quality for power plants

DOWEX™ and AMBER™ Ion Exchange Resins

DOW EDI™ Module

DOW™ Ultrafiltration Module

DOW FILMTEC™ RO Membranes

ADSORBIA™ Media

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 13

Challenge Solution

Broaden operating range of wind turbines UCON™ GL-320 Gear Lubricant

Need for improved turbine gearand gas turbine performance

DOW™ Turbine Fluid T-25

Need for lightweight, high-performancematerials for wind turbine blades

AIRSTONE™ Epoxy Systems and COMPAXX™ Core Materials

Reliable manufacturing capabilities Blade manufacturing technologies

Reduced variability in power grid Grid integration technologies

Reliable cable systems for on- and off-shore wind generation

DOW ENDURANCE™ Compounds

Products/Partnerships

AIRSTONE™ Epoxy Systems DOW ENDURANCE™ Compounds

Blade Dynamics DOW™ Turbine Fluid T-25

COMPAXX™ Core Composites UCON™ GL-320

ChallengeDegradation of steel pipes in essential service water (ESW)

systems costs utilities up to $25 million per year1

SolutionCONTINUUM™ Bimodal Polyethylene Resins

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 14

1Source: EPRI 2009 Portfolio, Balance of Plant Corrosion

Products

CONTINUUM™ DGDA-2492N

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 15

Challenge SolutionCost-effectively minimizing CO2 emissions in coal-fired power plants

Dow’s advanced amines for CO2 capture remove 90% or more of CO2 from emission stream and can be regenerated and reused within the process

Meeting regulatory emissions requirements as well as reaching operational goals

Dow’s advanced performance flue gas treating solvents offer low heats of reaction, combined with the ability to remove CO2 and H2S

Need to improve yields and reduce energy requirements

AMINE MANAGEMENT PROGRAMSM provides state-of-the-art, on-site technical and analytical services tailored to a refinery’s objectives and needs

ChallengeFrequent and costly turbine trips

SolutionDOW™ Turbine Fluid T-25 non-varnishing fluid

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 16

Products

DOW™ Turbine Fluid T-25

ChallengeLow-cost harvesting of solar energy

Solution• DOW POWERHOUSE™ shingles• DOWTHERM™ A heat transfer fluids• Engineering and technical consulting

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 17

AIRSTONE™ Epoxy SystemsInnovative family of epoxy products based on proven technology

and chemistry • Lightweight and high-strength composite solutions• Multiple product grades; can be tailored based on specific

market and environmental conditions• Tested and fully GL certified

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 18

Blade Dynamics• Reliable manufacturing capabilities• Accelerating innovative technologies and alternative energy solutions• Advanced rotor and surface coating technologies designed to improve

aerodynamics and lower cost of wind energy

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 19

COMPAXX™ Core Composites• Core composites from Dow provide vital structure for blade elements, replacing

PVC foams and reducing production costs and improving mechanical performance of wind blades

• Light weight• Excellent static and dynamic mechanical strength• Thermal and mechanical properties proven long-term over wide range of service

temperatures• Closed-cell foam with dust-free surface – excellent fabrication/processing

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 20

CONTINUUM™ DGDA-2492NBimodal High Density Polyethylene (HDPE) Resins for Nuclear Water Pipes• Leak-free when produced and installed properly• Corrosion- and chemical-resistant• Offer seismic resistance• Easier and more cost-efficient to install than carbon steel

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 21

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 22

DOW ENDURANCE™ CompoundsComplete portfolio of insulation, semiconductive shields and

jacketing compounds for high and extra high voltage, medium voltage and low voltage applications, offering single-source solutions, long-term reliability and lower total system cost

• Excellent environmental stress crack resistance• Flexibility and toughness• Proven water tree-retardancy• Superior moisture barrier properties

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 23

DOW™ Turbine Fluid T-25• Helps prevent turbine trips• Improved heat transfer• Lower friction• Biodegradable, lower toxicity

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 24

UCON™ GL-320• Developed for wind turbine gearboxes• High viscosity index • Excellent viscosity-temperature properties• Eliminates need for changeover due to climatic or operational

temperature changes

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 25

• Battery storage – grid scale and mobile

• Bulk and distributed storage technologies

• PHEV and PEV

• EV charging stations

• Grid-scale solar

• Micro-nuclear reactors

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 26

Gas and Water Pipe Distribution

Gas and Water Pipe Distribution

Emerging TrendsEmerging Trends

Wire and Cable Solutions

Wire and Cable Solutions

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 27

Challenge SolutionNeed for long-lasting, lowest-life-cycle-cost cabling for medium-voltage, high-voltage and extra-high-voltage applications

DOW ENDURANCE™ materials meet or exceed the world’s toughest standards for reliability, consistency, cleanliness and quality, delivering long life, lowest expected total system cost and peace of mind

More than 1,596 billion kWh are lost globally every year in the delivery of electricity from power plant to end-use devices

Reliable, high-efficiency wire and cable solutions from Dow help lower system losses; Dow is actively developing new materials that promise enhanced efficiency

Need safer, more durable dielectric fluids with better thermal and dielectric properties that are compatible with existing transformers and fluids

High-performance, cost-effective bio-based transformer oils with excellent oxidative stability

Increasing demand for sustainable material solutions for wire and cable applications

Dow has developed bio-based plasticizers with renewable content for PVC applications

ChallengeNeed to improve the performance of the nation’s gas and water

utility distribution systems

SolutionCONTINUUM™ bimodal medium-density and high-density

polyethylene with excellent crack growth and rapid crack propagation resistance properties

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 28

Products

CONTINUUM™ Bimodal Polyethylene Resins (DGDA 2420, DGDA-2490, DGDA-2480)

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 29

CONTINUUM™ DGDA-2420, DGDA-2490 and DGDC-480 offer:• Excellent slow crack growth (SCG) resistance

• High temperature/pressure performance

• Increased toughness (especially at low temperatures)

• Increased tensile strength and modulus

• Excellent resistance to rapid crack propagation (RCP)

• Enhanced fusion to MDPE and other HDPE pipe grades

High performance natural ester-based dielectric fluids that provide makers and users of transformers with a novel insulating solution that is fire safe, cost effective and environmentally friendly by combining:• High fire and flash point• Biodegradablity and non-toxicity• High oxidation stability• Enhanced ability to hold water• Ability to extend the life of paper insulation

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 30

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 31

DOW ECOLIBRIUM™ Bio-Based Plasticizers • 40% greenhouse gas reduction• Phthalate-free• Lead-free

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 32

DOW ENDURANCE™Complete portfolio of insulation, semiconductive shields and jacketing compounds for high and extra high voltage, medium voltage and low voltage applications, offering single-source solutions, long-term reliability and lower total system cost• Excellent environmental stress crack resistance• Flexibility and toughness• Proven water tree-retardancy• Superior moisture barrier properties

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 33

• HVDC and EHV bulk corridors

• EV charging stations

• Smart grid and microgrids

• Undergrounding

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 34

Spray Polyurethane Foam Insulation

Insulating Foam Sealants

Sustainable Roofing SolutionsInnovative Insulation

Solutions

Emerging Trends

Solar ShinglesBuilding Energy Efficiency

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 35

Products

GREAT STUFF™ and FROTH-PAK™ Foam Sealants

STYROFOAM™ and FROTH-PAK™ Foam Insulation

DOW POWERHOUSE™ Solar Shingles

STYROFOAM™, THERMAX™ and SAFETOUCH™ Insulation

Sustainable Roofing Solutions

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 36

GREAT STUFF™ and FROTH-PAK™ Foam SealantsTrusted offering of products for DIYs and professionals to seal points of air infiltration throughout homes and commercial buildings

STYROFOAM™ and FROTH-PAK™ Foam InsulationPortfolio of spray foam materials for large-scale insulating/sealing of homes and commercial buildings, as well as agricultural and industrial applications

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 37

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 38

DOW POWERHOUSE™ Solar Shingles

•Building integrated photovoltaic roofing shingles

•Accessible and affordable solar power

•Integrated, seamless solar solution that’s intuitive to set up, install, use and maintain

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 39

• STYROFOAM™ and THERMAX™ Rigid Foam Insulation

• SAFETOUCH™ Fiberglass Free Batt Insulation

• STYROFOAM SIS™ Brand Structural Insulated Sheathing

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 40

• Advanced materials for energy-efficient “cool roof” designs

• Wide range of roofing insulation products for conventional and protected membrane roof types

• Low-VOC adhesives and sealants

• Expert assistance with design and application challenges

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 41

• PHEV and PEV

• Smart grid

• Smart plug-ins

• Smart windows

• Information systems and controls

• Zero energy homes

• LEED certification

• Distributed generation

DOW CONFIDENTIAL - Do not share without permission®™Trademark of The Dow Chemical Company (“Dow”) or an affiliated company of Dow 42

As a supplier

Dow has a premier portfolio of energy-related products and solutions

As a partner

As a significant power generator, supplier and user, Dow understands and shares the challenges utilities face; Dow has the brand, reputation and innovation pipeline to stimulate adoption of energy-efficient solutions by consumers

As an energy solutions provider

Dow is committed to innovate sustainable solutions, creating value for utilities and their customers