EFTA01461982.pdf

29 July 2014 Chemicals / Specialty Eastman Chemical 2014 Segment Outlook Figure 4: 2014E Segment Operating Earnings Guidance and Drivers($ in millions) Segment 2014E 2013 %A Comments Additives & Functional $410430 $406 1%-6% 1+) Higher vets as improvements in the Products transportation and budding & construction markets (-I Partial offset by contracted olefin spread. Adhesives & Plasticizers >3175 $173 1% (+) Improved vets. better productivity and lower operating costs 4.}Campotitive pricing pressure in plasticizers Advance Materials $280-3300 5260 8%-15% 1i) Increased volume and mix improvement. (-I Costs of the unplanned shutdown. Fibers -$480 5462 4% 1+I Strong acetate flake volume. lower raw material costs and higher selling prices. 1-I Lower tow acetate vole and higher operating costs Specialty Fluids & 3300-3320 5364 112%.18%) 1-I Volatility of key raw materials (primarily Intermediates propane) and unplanned shutdown. 1+1Technology licensing revenue to negate the impact of raw material volatility. Soon EIISPr.e. 'Figure 5: 2014 olefins spread impact RS year prolecled dohs prices Propane $1.18/gallon Ethane $0.29/gallon Pl0Mlene 40.70/1 Ethylene 50.4616 Mikes to offset bechvinde Increasing use of ethane totally° to propane as a feedstock Hedging program mitigates propane costs exposure Pncing actions expected to partially offset higher feedstock costs Narrowing Saks spread, projected to negedvely Impact 2014 EPS Make to 2013 by S0.30 to SOAO Same. Sens{ PIYA104In Deutsche Bank Securities Inc Page 5 CONFIDENTIAL — PURSUANT TO FED. R CRIM. P. 6(e) DB-SDNY-0124312 CONFIDENTIAL SDNY_GM_00270496 EFTA01461982