Dow Achieves Significant Strategic Milestone As USDA Allows Commercialization of Enlist Corn, Soybean

Representing a significant milestone toward the commercialization of Dow's Enlist™ corn and soybean traits in the United States, the U.S. Department of Agriculture (USDA) yesterday issued its deregulation decisions after concluding one of the most thorough reviews of a biotech trait in history. “Enlist is a next-generation technology that will drive critical improvements for the agricultural industry. Yesterday's announcement represents a significant milestone and key catalyst in Dow's strategic plans for long-term growth and further accelerates the Company's transformation into one of the world's most important science and technology companies,” said Andrew N. Liveris, Dow's Chairman and CEO. “Further, our Dow AgroSciences business continues to outperform its peers, harnessing the power of the strongest commercial pipeline in the business' history and a leading team of world-class scientists that continue to drive value for shareholders at the intersection of biology and chemistry.” Dow has doubled the value of Dow AgroSciences over the past five-seven years, while utilizing the profitability of our strong crop protection business to not only build one of the best technology platforms in seeds, but also in crop protection. Leveraging Dow's global brand, global network, balance sheet, core research and development (R&D) and shared service, Dow AgroSciences has built the fastest-growing seeds business in the industry. Representing the best of both platforms, the commercialization of the Enlist technology will further bolster the earnings power of this R&D engine. With yesterday's USDA action, the Company now awaits EPA registration of Enlist Duo™ herbicide, the companion herbicide to the Enlist traits. Approval for Enlist Duo is expected in the near future, and commercial intentions for the technology in 2015 will be provided after the EPA has issued its decision on Enlist Duo herbicide. “Enlist will help farmers increase their productivity to meet the growing demand for a safe and affordable food supply,” said Tim Hassinger, president of Dow AgroSciences. “We have used the latest science and technology to address their problem weeds. Enlist will be a very effective solution and we are pleased to have this technology one step closer to the farm-gate.” The Enlist traits are part of the Enlist™ Weed Control System, a new trait and herbicide technology from the Dow AgroSciences business that will empower farmers to control tough weeds using modern farming practices that protect the soil and environment. USDA's decision applies to the Enlist corn, Enlist soybean and Enlist E3™ soybean traits. Enlist E3 is being developed through a collaboration between MS Technologies LLC and Dow AgroSciences. “Tools like Enlist will help me do my job more efficiently and productively,” says Brooks Hurst, a farmer from Tarkio, Mo. “That benefits Americans in two ways: It puts food on our tables, and contributes to a healthy economy.”