Dow and Mengniu announce commercialization of post-consumer recycled resin based shrink film in Greater China

SHANGHAI,June 9,2021 -- Dow (NYSE: DOW) and Mengniu,China's leading dairy company,today announced the successful commercialization of a collation shrink film made with Dow's post-consumer recycled (PCR) resinsin Mengniu's product packaging. Amongst the first for the food and beverage industry in Asia Pacific,the newly formulated one-pellet resin is 100% recyclable andwill be used in Mengniu's secondary packaging for dairy products. This collaboration aligns with Dow'ssustainability commitmentto stop the waste by enabling 1 million tons of plastic to be collected,reused,or recycled through its direct actions and partnerships by 2030.

Mengniu’s post-consumer recycled resin based shrink film

Dow,with their strategic recycling partners,utilizes domestic plastic waste collected from milk,water and juice bottles,as well as discarded flexible film within China,and transforms them into PCR resins. Specifically,the PCR resin is incorporated into the core layer of the collation shrink film and performs comparably to conventional options made with virgin resins. With the inclusion of recycled content in secondary packaging,brand owners like Mengniu can significantly reduce carbon emissions and footprint in their value chains while giving a new life to used plastics that would otherwise have become waste.

"The emergence of new end markets for plastic waste helps incentivize collection and recycling,enabling more recycled products to be developed while reducing the amount of plastic entering our environment," said Bambang Candra,Asia Pacific commercial vice president,Dow Packaging & Specialty Plastics."Dow is creating purpose for used plastic packaging with our circular economy solutions and by bringing these products to market,our goal is to give plastics a second life and prevent more environmental wastage. We can only achieve this through value-chain collaborations with industry leaders like Mengniu."

"Following our last partnership between Dow and our premium dairy brand,Shiny Meadow,to construct China's first ever 'plastic road' using recycled milk bottles,this initiative continues our trajectory to contribute to a circular plastics economy and close the loop by working with materials that are sustainable and recyclable," said Pengcheng Li,vice president,Mengniu Dairy. "Being able to lead the green development in the dairy industry while setting a benchmark for others to follow in terms of sustainability,we hope to further our vision with the support of Dow to uphold environmental responsibility;increase use of recycled plastics,reduce greenhouse gas emissions,and address the plastic waste issue in response to growing consumer concern about the environment."

About Dow Packaging and Specialty Plastics

Packaging and Specialty Plastics (P&SP),a business unit of Dow (NYSE: DOW),combines core strengths of R&D,worldwide reach,broad product lines and industry expertise to deliver high performing technologies for end use markets in food packaging,personal hygiene,infrastructure,consumer goods and transportation. P&SP is one of the world's largest producers of polyethylene resins,functional polymers,and adhesives,and enabled by Pack Studios,is a leading innovator and collaborator across the value chain on sustainable application development and circular economy life-cycle design for plastics.www.dowpackaging.com

About Dow

Dow (NYSE: DOW) combines global breadth,asset integration and scale,focused innovation and leading business positions to achieve profitable growth. The Company's ambition is to become the most innovative,customer centric,inclusive and sustainable materials science company,with a purpose to deliver a sustainable future for the world through our materials science expertise and collaboration with our partners. Dow's portfolio of plastics,industrial intermediates,coatings and silicones businesses delivers a broad range of differentiated science-based products and solutions for its customers in high-growth market segments,such as packaging,mobility and consumer care. Dow operates 106 manufacturing sites in 31 countries and employs approximately 35,700 people. Dow delivered sales of approximately $39 billion in 2020. References to Dow or the Company mean Dow Inc. and its subsidiaries. For more information,please visitwww.dow.comor follow@DowNewsroomon Twitter.

About Mengniu

Mengniu is a specialized dairy company under the leadership of COFCO Group. It is the 8th largest dairy producer globally. Established in 1999,the company is headquartered in Hohhot,Inner Mongolia Autonomous Region. Listed in Hong Kong Stock Exchange in 2004 (2319.HK),Mengniu has been chosen to be the constituent stock of the Hang Seng Index,the Hang Seng China Enterprise Index and the Hang Seng Sustainable Development Enterprise Index.

Mengniu is dedicated to providing consumers in China and worldwide with nutritious,healthy and delicious dairy products,and has developed a diversified product matrix including liquid milk,ice-cream,baby formula,and cheese. The company owns a dozen of household brands such as Milk Deluxe,Just Yoghurt,Champion Yoghurt,Yoyi-C,Deluxe Ice-Cream,Ruibuen,Bellamy's,Milkground and Arla China.

Mengniu has the largest market share in categories including premium pure milk,chilled yogurt,premium fresh milk,and cheese in mainland China,and its products have also entered more than 10 countries and regional markets in Southeast Asia,Oceania,as well as North America. In 2020,Mengniu's revenue reached 76 billion CNY (11.86 billion USD) and net profit grew to 3.5 billion CNY (546 million USD).