2011 Sustainability Overview

Sustainability overview Fiscal year 2011

Fiscal 2011 Sustainability Overview

Ashland Inc.

CEO statement (GRI 1.1)

Fiscal 2011 was a defining year for Ashland – a year in which we completed our transformation into a leading global specialty chemical company through the acquisition of International Specialty Products Inc. (ISP). For the first time in Ashland’s 88-year history, we are a company with a sharpened focus on specialty chemicals that is distinct from our competitors and very different from who and what we have been in the past.

Although we have completely reinvented Ashland over the course of our journey, our commitment to the basic elements of sustainability – people, products and the planet – remains at the core of all we do. Across the globe, our 15,000 employees drive our pursuit of new ways to address the challenges facing our world today, and those we will encounter in the future.

With the addition of ISP’s technologies and talented people, we more than doubled the size of our Specialty Ingredients business, tripled our team of research and development scientists, and quadrupled our patent portfolio. We have expanded our ability to deliver industry-leading innovation and environmentally responsible solutions in a number of important high-growth end markets, including personal care, pharmaceutical, food and beverage, and energy. From next generation gas hydrate inhibitors and certified organic skin care ingredients, to a new series of “greener” biocides and UV-curable monomers for inks and wood coatings, our ingredients are helping make the products we use every day, and the companies that manufacture them, more sustainable.

Other examples can be found across our commercial units. Within Ashland Water Technologies, a new monitoring and control system is providing 24/7 performance-based control for cooling water and heat exchanger systems. Customers are telling us that our OnGuard™ system is helping them operate more efficiently by increasing their use of recycled water and reducing energy usage. The centerpiece of this platform is OnGuard OnLine, which automatically collects system performance data and uses statistical tools and techniques to help our customers target opportunities for improvement.

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Oct. 1, 2010, to Sept. 30, 2011

Ashland Inc.

Fiscal 2011 Sustainability Overview

In 2011, our Performance Materials business introduced new Purelam™ solvent-free laminating adhesives that are helping food packaging manufacturers to balance performance and environment with faster curing, reduced volatile organic compounds (VOC) and lower applied costs.

Our Consumer Markets business expanded the availability of our Valvoline NextGen™ motor oil to Europe, and then to Australia and Canada in early 2012. NextGen is formulated with 50-percent recycled, re-refined oil, which reduces impact on the environment compared to oils made without recycled content. Through our partnerships with key automotive retailers in the U.S., we also are redefining for consumers the concept of what it means to “Close the Loop” on motor oil recycling. This is critically important. Worldwide, vehicle engines use nearly 40 billion liters of oil annually. Just one liter of improperly disposed oil can contaminate up to 1 million liters of drinking water, a precious resource.

As a global company, however, we have broader social responsibilities that go beyond our customers and into the regions, countries and cities where we live and work. From giving back to our local communities through volunteer service and charitable contributions, to providing comprehensive safety, compliance and employee development programs, we are dedicated to responsibly managing our global environmental, health, safety and security obligations and positively contributing to our communities.

We carry this out via the framework of our comprehensive Responsible Care* program. This includes a global management system, employee involvement at every level of the organization, continuous improvement toward our goal of operating with zero incidents, achieving 100 percent compliance, and reducing our environmental, health, safety and security impact. Our philosophy and commitment to the tenets of Responsible Care are an important part of our heritage, and will continue to be the foundation for our future.

Good chemistry is not only about innovative, differentiated science, but also about the way people come together to make a difference. Good chemistry is what sets Ashland apart and what helps make the world a better place to live.

James J. O’Brien Chairman and Chief Executive Officer

Oct. 1, 2010, to Sept. 30, 2011

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Acting in the best interests of everyone We are committed to excellence in environmental, health, safety and security, and to having a positive impact on the communities in which we operate and society as a whole. How strong is this commitment? We’ve made it a company policy.

We carry this out by supporting the principles and ethics of Responsible Care*, a global initiative to advance the safe and secure management of chemical products and operations.

Responsible Care is the foundation for Ashland’s commitment to sustainability and forms the link to: • Operating discipline • Raw material selection • Supply chain optimization • Sustainable product development • Social responsibility commitments • Risk management

Corporate responsibility Corporate responsibility and sustainability are important in all of Ashland’s business activities. This Sustainability Overview highlights Ashland’s efforts to find the best balance among environmental, social and economic needs. To prepare this document, Ashland endeavors to follow the Global Reporting Initiative* (GRI) guidelines, one of the world’s most widely used frameworks for sustainability reporting.

GRI Application Level C This report is an overview of Ashland’s efforts using GRI’s 2006 G3 guidelines at Application Level C. Please refer to GRI’s website, www. globalreporting.org, for more details. Application of the guidelines at Level C requires information pertaining to the following: • Company profile disclosure using GRI sections 1.1, 2.1 – 2.10, 3.1 – 3.8, 3.10 – 3.12, 4.1 – 4.4, 4.14 – 4.15; and • Company performance information for 10 of the G3 indicators. Ashland has chosen to report on more than required, as follows: Economic (EC2, EC3), Environmental (EN2, EN3, EN4, EN8, EN9, EN16, EN25, EN28), Labor (LA1, LA4, LA5, LA8, LA10 – LA12), Human Rights (HR6, HR7, HR9), Society (SO3) and Product Responsibility (PR5, PR8).

In addition, this overview will provide narrative on other G3 guidelines.

See page 19 for a complete list of indicators.

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Oct. 1, 2010, to Sept. 30, 2011

Ashland Inc.

Fiscal 2011 Sustainability Overview

GRI organizational profile Organization name (GRI 2.1) Ashland Inc. Primary brands and products (GRI 2.2) Below is a list of many of the trademarks and brands held by Ashland across its commercial units.

• 2-Pyrol™ 2-pyrrolidone • Achromaxyl™ ISR biofunctional • Acnacidol™ BG biofunctional • Advantage™ defoamers and biodefoamers • Advantage Plus™ deposit and corrosion inhibitors • AeroWhip™ hydroxypropylcellulose • Allianz™ OPT polymer • AME™ resins • Amercor™ corrosion inhibitors • Amerfloc™ coagulants and flocculants • Amergy™ fuel-oil additives • AmeROyal™ antiscalants • Amersite™ corrosion inhibitors • Antara™ 430 and Polectron™ 430 polymer • Antaron™ and Ganex™ polymers • Antispumin™ defoamers • AquaCat™ clear cationic solutions • Aquaflex™ polymers • AquaFLO™ standard-grade polyanionic cellulose • Aquaflow™ nonionic synthetic associative thickeners • Aqualon™ sodium carboxymethylcellulose, cellulose gum and ethylcellulose • AquaPAC™ polyanionic cellulose • AquaPas™ redispersible powders • Aquapel™ AKD internal-sizing additives • Aquarius™ tablet film coating systems • Aquarize IS™ biofunctional • Aquasorb™ cellulose gum • AquaStyle™ polymers • Aqua-Osmoline™ biofunctional • Arocure™ pressure-sensitive adhesives • Arofene™ resins • Aromelt™ resins • Aropol™ resins • Ashland™ corn oil extraction aids • ATPeptide™ IS biofunctional • Bacillat™ biocide • Benecel™ methylcellulose and methylcellulose derivatives • Biosperse™ microbiocides • Blanose™ sodium carboxymethylcellulose and cellulose gum • BLO™ butyrolactone • Bodoxin™ biocide • Bondwell™ sodium carboxymethylcellulose • Butoxyne™ 497 - 1,4-Bis(2-Hydroxyethoxy)2-Butyne • Capauxein™ biofunctional • Car Brite™ automotive products • Caspaline 14™ biofunctional • Cavitron™ HPB cyclodextrins • Ceraphyl™ and Cerasynt™ esters • Ceraphyl™ cationic solutions • Chargepac™ coagulants • Chondricare™ IS biofunctional • CHP™ cumene hydroperoxides • Chromabond™ polymers • Chromafend™ biofunctional • Chronogen™ biofunctional • Collaxyl™ IS biofunctional • Combizell™ methylcellulose derivatives • Conarom™ aromatics • Conditineze™ cationic solutions • Copolymer Series • Cotton Bloom™ 5S biofunctional • Crepetrol™ creping adhesives • Culminal™ methylcellulose derivatives • Derakane™ resins • Dermostatyl™ IS biofunctional

Oct. 1, 2010, to Sept. 30, 2011

• DeTac™ contaminant-control agents • Dextrol™ phosphate ester surfactants • Dimension™ converting and lotionizing additives • Disintex™ disintegrants • Dose-Map™ dosimetry system • Drew™ powder defoamers • Drewbrom™ microbiological control additives • Drewclean™ cleaners • Drewcor™ corrosion inhibitors • Drewfax™ scale inhibitors • Drewfloc™ flocculants • Drewgard™ corrosion inhibitors • Drewphos™ boiler-water treatments • Drewplex™ boiler-water treatments • Drewplus™ defoamers • Drewsperse™ deposit-control agents • Durablend™ motor oils • Dynachondrine™ ISR biofunctional • Dynagen™ biofunctional • D’Orientine™ S biofunctional • Eagle One™ automotive products • Easy-Sperse™ polymer • Easy-Wet™ wetting agent • Ebotec™ biocides • EcoDura™ PLONOR liquid additives • Enguard™ resins and gelcoats • Envirez™ resins • Enviroplus™ advanced cooling-water treatments • Escalol™ UV filters • Express Care™ automotive services • Ferroclean™ cleaning treatment • Ferronyl™ iron supplement • Flexcryl™ emulsions • FlexiThix™ polymer • FoamFlush™ urethane remover • Follisync™ biofunctional • Fungitrol™ biocides • Gafchromic™ film dosimetry systems • Gaffix™ polymers • Gafguard™ 233 and 300 • Gafquat™ polymers • Gafquat™ conditioning solution HSi • Galactasol™ guar and guar derivatives • Gantrez™ polymers • Generox™ chlorine dioxide generation system • Germaben™ preservatives • Germall™ preservatives • Heliostatine IS biofunctional • HEP™ hydroxyethyl-2-pyrrolidone • Hercobond™ dry-strength resins, paperperformance additives, and temporary wetstrength additives • Hercules™ alkaline size-emulsification systems • Hetron™ resins • Infinity™ pulp-mill additives • imPress™ surface-sizing agents • Infinity™ pulp-processing aids • Inhibex™ gas hydrate inhibitors • Instint™ color-tinting service for resins and gelcoats • Isogrip™ adhesives • Isoset™ adhesives • ISP Captivates™ encapsulates • ISP Colorflow™ liquid crystals • ISP MicroBeads™ encapsulates • ISP MicroCapsules™ encapsulates • Jaypol™ polymers • Klucel™ hydroxypropylcellulose • Kymene™ wet-strength resins • Laminixyl IS™ biofunctional

• Liberty™ water-soluble polymer suspension • Lipigenine™ biofunctional • LiquaGard™ preservative • LiquaPar™ preservatives • Lubrajel™ hydrogels • Lubrasil™ microemulsions • Maxguard™ resins and gelcoats • MaxLife™ automotive products • Mekor™ corrosion inhibitors • Microflex™ microemulsifier • Micropowder™ iron • Millsperse™ antiscalants • Modar™ resins • M-Pyrol™ solvent • Natriance™ Brightener extract • Natriance™ Renovate extract • Natriance™ Self-hydrate extract • Natriance™ Solar Defense extract • Natriance™ Wrinkle-less extract • Natrosol™ hydroxyethylcellulose • Natrosol™ Plus cetyl-modified hydroxyethylcellulose • Neoglycogen biofunctional • NEP™ N-Ethyl-2-Pyrrolidone • NextGen™ recycled motor oils • Nexton™ water-soluble polymers • Nuosept™ biocides and preservatives • N-Hance™ guar and guar derivatives • Oilbreak™ demulsifiers and flotation aids • Oleanoline™ IS biofunctional • Omnirez™ 2000 polymer • OnGuard™ monitoring and control systems • OptiFill™ strength program • Optiphen™ and Optiphen MIT preservatives • Orsirtine™ ISR biofunctional • Oxygenated Glycerol Triesters D biofunctional • PartsReady™ degreaser • Peptide Q10™ biofunctional • Peptide Vinci™ biofunctional • Perenityl™ IS biofunctional • PerForm™ retention, drainage and clarification aids • PerForm VMax™ 1000 mixing and injection system • Performax™ water-treatment chemicals • Performax Millenium™ advanced coolingwater treatments • Peroxydone™ complexes • Pharmasolve™ N-methyl-2-pyrrrolidone • pHlex™ neutralizing agent • Phytocohesine™ PSP biofunctional • Phytoquintescine ISR™ biofunctional • Plasdone™ copolymers and polymers • Plasdone™ copovidone • Plasdone™ povidone • Pliodeck™ adhesives • Pliogrip™ adhesives • Polaris™ resins • Polyclar™ PVPP stabilzers • Polycup™ cross-linking resins • Polyplasdone™ crospovidone • Polyplasdone™ polymer S • Polystabil™ scale inhibitors • PolySurf™ cetyl-modified hydroxyethylcellulose • Praestol™ flocculants • Praestospeed™ modular dissolving system • Prelam™ structural-laminating adhesives • Premium Blue™ engine oils • Prequel™ liquid reactive size agents • Presstige™ felt-cleaning and -conditioning agents

• Procataline™ biofunctional • ProLipid™ lamellar gels • Prolixir S20™ biofunctional • ProSoft™ softeners and debonders • Protecsol™ corrosion inhibitors and deposit dispersants • Protectagen™ biofunctional • Purelam™ laminating adhesives • Purethane™ adhesives • Pyroil™ automotive chemicals • Quintescine™ IS biofunctional • Rad-Sure™ blood irradiation indicators • Rapi-Cure™ vinyl ethers • RapiThix™ polymers • ReNew™ cleaning agents • Rezosol™ release aids • Rokonsal™ preservatives • Scripset™ surface-sizing agents • Setleze™ 3000 copolymer • ShipShape™ resin cleaner • Signaline™ S biofunctional • Silcron™ silica gels • Silipon™ air-entraining agents • Silipur™ defoamers • Sonoxide™ ultrasonic water-treatment system • Sorez™ copolymers • Soyad™ adhesives • Spectrum™ microbiocides • Stabileze™ QM polymer • Stratixyl™ biofunctional • StreamLink™ defoamers, coagulants, repulping agents, wet-strength resins, polymers, sizing agents and hydrophobic aids • Sterin™ insect irradiation indicators • Strodex™ phosphate ester surfactants • Styleze™ polymers • Suberlift™ biofunctional • Supercol™ guar gum • Surfadone™ wetting agents • Survixyl IS™ biofunctional • Suttocide™ A preservative • Synpower™ motor oils • Tallofin™ deposit-control agents • Techwax™ additives • Techwax™ Aqua mud thinners • Telosense™ biofunctional • Thymophytane ISR™ biofunctional • UCPeptide™ V biofunctional • Ultra-ServSM inventory-management system • Ultra-Serv™ SOLID chemical-delivery system • UltraThix™ P-100 polymer • Valvoline™ automotive products • Valvoline Instant Oil Change™ centers • Valvoline Professional Series™ automotive products • Vinylpyrrolidone/Vinylacetate Copolymers (PVP/VA) • Vital ET™ biofunctional • ViviPrint™ polyvinyl polypyrrolidone • V-Cap™/RC N-vinyl caprolactam • V-Pyrol™/RC and Non-RC N-vinyl-2pyrrolidone • Wickit™ absorbency aids • X-Tend™ ester • XxtraDura™ FLA universal fluid-loss additive • XxtraDura™ GMA multipurpose additive • Zalta™ mining additives • Zenix™ deposit-control additives • Zerex™ antifreeze

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Fiscal 2011 Sustainability Overview Operational structure (GRI 2.3) At the end of fiscal 2011, Ashland operated through four commercial units: Ashland Specialty Ingredients (Specialty Ingredients); Ashland Water Technologies (Water Technologies); Ashland Performance Materials (Performance Materials) and Ashland Consumer Markets (Consumer Markets), which includes the Valvoline™ family of products and services. Effective March 31, 2011, the company sold Ashland Distribution.

Ashland Inc. For the fiscal year ended Sept. 30, 2011, Ashland reported sales of $6.5 billion as compared with $5.7 billion in fiscal 2010.

During fiscal 2011, Specialty Ingredients sold an average of $4.3 million per shipping day; Water Technologies, $7.5 million per shipping day; and Performance Materials, $5.2 million per shipping day. Consumer Markets sold a total of 171.3 million gallons of lubricants.

Headquarters location (GRI 2.4) Ashland is headquartered in Covington, Ky., USA, with regional offices in Shanghai, P.R. China; Barendrecht, Netherlands; Schaffhausen, Switzerland; São Paulo, Brazil; Mumbai, India; and Dublin, Ohio, Lexington, Ky., and Wilmington, Del., USA.

During the prior fiscal year, Ashland Aqualon Functional Ingredients* (functional ingredients) sold an average of $3.6 million per shipping day; Water Technologies, $7.1 million per shipping day; and Performance Materials, $5.1 million per shipping day. Consumer Markets sold a total of 174.3 million gallons of lubricants in fiscal 2010.

Countries of operation (GRI 2.5) In fiscal 2011, Ashland operated 100 manufacturing sites, 37 research, development and technical centers; and several dozen administrative offices located in more than 35 countries on six continents. Ashland maintains major administrative offices in Brazil, China, the Netherlands, Switzerland, and the United States.

Additional information about Ashland may be found in its annual report on Form 10-K for fiscal 2011, available on the company’s website at http://investor.ashland.com or by contacting Ashland Inc., Investor Relations, P.O. Box 391, Covington, Ky. (USA) 410120391 (phone: +1.859.815.4454).

Ownership structure (GRI 2.6) Listed on the New York Stock Exchange under the ticker symbol ASH, Ashland Inc. is incorporated under the laws of the commonwealth of Kentucky (USA). Approximately 79 million shares were outstanding as of Sept. 30, 2011, and there were approximately 15,600 common stockholders of record.

Markets served (GRI 2.7) The primary markets in which Ashland serves and competes are: • Advanced Materials • Agriculture • Automotive Lubricants and Chemicals • Biorefining • Building and Construction • Chemical Processing • Commercial and Institutional • Electronics • Energy • Food and Beverage • General Manufacturing • Metals and Metal Processing • Mining and Extraction • Municipal • Packaging, Converting and Printing • Paint and Coatings • Personal Care • Pharmaceutical • Power Generation • Printing and Inks • Pulp and Paper • Specialties • Transportation

Significant operational changes (GRI 2.9) In August 2011, Ashland completed the acquisition of privately owned International Specialty Products Inc. (ISP), a global specialty chemical manufacturer of innovative functional and active ingredients and technologies. ISP’s advanced product portfolio expands Ashland’s position in high-growth markets such as personal care, pharmaceutical and energy. ISP has been merged into the Functional Ingredients commercial unit, and the newly combined commercial unit is now known as Ashland Specialty Ingredients. Additionally, as a part of the ISP acquisition, Ashland Performance Materials assumed operations of ISP’s Elastomers business.

Also in August 2011, the name of the Ashland Hercules Water Technologies commercial unit was changed to Ashland Water Technologies.

In March 2011, Ashland completed the sale of its global distribution business, known as Ashland Distribution, to Nexeo Solutions LLC, an affiliate of TPG Capital. This business represented approximately $3.4 billion, or roughly 40 percent, of reported fiscal 2010 sales, but due to its low-margin nature, contributed approximately 10 percent of comparable operating income.

This sale reflects Ashland’s strategy to strengthen its specialty chemical focus.

In December 2010, Ashland completed the formation of its global foundry joint venture with Süd-Chemie AG, a Clariant Group Company, contributing the Casting Solutions business unit of Ashland Performance Materials to the new entity. Ashland and Süd-Chemie each own a 50-percent share of the expanded joint venture, now known as ASK Chemicals, with operationsmanagement leadership maintained by Süd-Chemie.

Organization scale (GRI 2.8) Ashland and its consolidated subsidiaries employed approximately 15,000 people worldwide at Sept. 30, 2011. This compares with 14,500 at fiscal year-end 2010.

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Oct. 1, 2010, to Sept. 30, 2011

Ashland Inc.

Fiscal 2011 Sustainability Overview

Ashland 2011 (Pro forma for fiscal 2011, which includes ISP since its acquisition date in August 2011) Specialty Ingredients Sales by Market

Sales by Product  Specialty

Performance 28%  Personal Care 23%  Pharmaceutical/ Nutrition 18%  Coatings 16%  Industrial 15%

Water Technologies Sales by Market

Sales by Region  Cellulosics 38%

 Europe 41%

 Solvents/

 North America 31%

Intermediates 20%  PVP 16%  Actives 6%  Vinyl Ethers 5%  Guar 5%  Other 10%

Sales by Product

 Asia Pacific 19%  Latin America/

Other 9%

Sales by Region

 Paper 57%

 Functional 43%

 North America 47%

 Industrial1 35%

 Utility 31%

 Europe 34%

 Municipal 8%

 Process 26%

 Asia Pacific 11%  Latin America/

1

Other 8%

Includes pulp markets

Performance Materials Sales by Market

Sales by Product  Construction 45%

Industrial 24% Residential 14% Infrastructure 7%  Transportation 28%  Packaging & Converting 17%  Marine 10%

Consumer Markets Sales by Market

Sales by Region  Composites 52%

 North America 68%

 Elastomers 25%

 Europe 19%

 Adhesives 23%

 Asia Pacific 9%  Latin America/

Other 4%

Sales by Product  Do-It-For-Me 38%

Installer Channel 28% Valvoline Instant Oil Change 10%  Do-It-Yourself 35%  Valvoline International 27%

International Sales by Region1  Lubricants 86%  Chemicals 7%  Antifreeze 5%  Filters 2%

 Asia Pacific 57%

Australia 27% Other Asia Pacific 30%  Europe 29%  Latin America/ Other 14% 1 Includes nonconsolidated joint ventures

Oct. 1, 2010, to Sept. 30, 2011

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Fiscal 2011 Sustainability Overview

Ashland Inc.

Breathing easier with a composite solution As regulatory agencies aggressively implement new, more stringent air pollution control (APC) standards, sophisticated scrubbing equipment for flue gases emitted by energy generating boiler systems are required. The environment in these air pollution control systems is highly corrosive to stainless steel and even higher-nickel alloys. It takes good chemistry, like Ashland’s Derakane™ epoxy vinyl ester resins, to create the new solutions that are helping protect the air we breathe for generations to come.

Fiberglass reinforced plastic (FRP) composites, such as those made using Derakane resins have become the preferred material of construction in air pollution control. With a 60-year reputation for low maintenance and relatively stable cost, FRP composites provide design engineers with a reliable, cost-effective alternative to high-nickel alloy and stainless steel that can be employed in numerous flue gas desulphurization applications from scrubbers and stack liners to piping and wastewater treatment. Although other materials may be cost competitive with FRP, the use of FRP composites typically results in lower lifecycle costs due to lower required maintenance.

Awards (GRI 2.10) In September 2011, Shanghai Volkswagen presented the Excellent Business Partner Award to Valvoline China for superior performance in chemical products. It was the third consecutive year that Valvoline received the award. Shanghai Volkswagen has more than 600 dealerships across China.

In August 2011, Ashland joined the Global Environmental Management Initiative (GEMI), an organization of top companies dedicated to fostering global environmental, health and safety and sustainability excellence. Member companies share tools and information to help business achieve environmental sustainability excellence.

In May 2011, the Ashland Performance Materials plant in Piedmont, S.C. was recognized by Renewable Water Resources, their publicly owned treatment works (POTW), for Compliance Excellency. This particular award is presented to industrial users that have a discharge permit to the POTW and have 100 percent compliance for the calendar year. The Piedmont plant has been recognized 17 times with either the Excellency plaque or Certificate of Recognition.

In March 2011, Walmart awarded Ashland Consumer Markets with a 2010 Supplier of the Year for “Most Significant Contribution to Sustainability.” The award was given for a new, environmentally responsible oil-in-a-box, Valvoline bay box made from recyclable cardboard. The box design replaces the equivalent of 24 plastic quart bottles.

In January 2011, the U.S. Environmental Protection Agency (EPA) awarded Ashland “Shipper Partner” status for its transportation 8

activities involving its Valvoline automotive products. The SmartWay* Transport Partnership is an innovative collaboration between the EPA and members of the freight industry designed to increase energy efficiency while significantly reducing greenhouse gases and air pollution. By being selected to the SmartWay Transport Partnership, Ashland’s Valvoline brand is recognized for its strong environmental leadership and corporate responsibility.

In December 2010, Ashland announced that two buildings on its Dublin, Ohio, USA, campus received the EPA’s ENERGY STAR* Award. Both buildings house Ashland administrative offices. The ENERGY STAR award is given to buildings that perform in the top 25 percent of similar facilities nationwide for energy efficiency.

In November 2010, the Ashland Performance Materials plant in Jacksonville, Ark., was recertified by the U.S. Occupational Health and Safety Administration (OSHA) for Voluntary Protection Program (VPP) “Star” status. The Star designation recognizes companies who have implemented effective safety and health management systems, and maintain injury rates below U.S. Bureau of Labor industry averages.

Reporting period (GRI 3.1) Ashland’s fiscal and reporting year is Oct. 1, 2010, to Sept. 30, 2011.

This overview will cover metrics and activities during Ashland’s fiscal year, unless otherwise stated.

Most recent reports (GRI 3.2) This is Ashland’s third report using the GRI guidelines.

Ashland’s prior report was published in 2011, covering its fiscal-year 2010 data.

Oct. 1, 2010, to Sept. 30, 2011

Ashland Inc. Reporting cycle (GRI 3.3) The reporting cycle will be annual on Ashland’s fiscal year.

Contact point (GRI 3.4) Gary Rhodes Director, Corporate Communications Ashland Inc. 50 E. RiverCenter Blvd.

Covington, KY (USA) 41011 +1 859-815-3047 glrhodes@ashland.com Report content defined (GRI 3.5) Report content was determined based on the 2006 GRI economic, environmental, labor practice, human rights, societal and product responsibility guidelines. The primary audience for this report is external stakeholders, including, but not limited to, communities; customers; prospective employees; governmental agencies; investors, shareholders and prospective investors; suppliers; and trade organizations.

Report boundary (GRI 3.6) The report covers only Ashland’s majority-owned facilities and operations as of Sept. 30, 2011, unless otherwise noted.

Limitations of boundary (GRI 3.7) The data included in this report were readily available at the time of preparation. Future reports will contain data for a broader set of indicators, as such data become readily available.

Non-majority-owned enterprises (GRI 3.8) No joint ventures, subsidiaries, leased facilities, outsourced operations or enterprises are included in this overview unless they are majority-owned.

Restatements of previous information (GRI 3.10) This is Ashland’s fourth Sustainability Overview. No restatements are included unless noted.

Significant changes from previous reports (GRI 3.11) This is the fourth reporting period. Significant acquisitions and divestitures that occurred during the fiscal 2011 reporting period are noted above under the heading Significant operational changes (GRI 2.9). Comparative data presented in the report are on an “as reported” basis and have not been adjusted for subsequent events unless noted.

GRI content index of standard disclosures (GRI 3.12) All standard disclosures are listed in order (above) in this overview.

Following this section are the GRI performance indicators.

Governance structure and highest governance body (GRI 4.1 and GRI 4.3) For the first four months of fiscal 2011, Ashland was governed by an 11-member Board of Directors, 10 of whom were independent directors under New York Stock Exchange guidelines. One director retired from the Ashland Board in January 2011, reducing Board membership to 10 members, nine of whom are independent.

Oct. 1, 2010, to Sept. 30, 2011

Fiscal 2011 Sustainability Overview For the first eight months of fiscal 2011, the Board maintained five committees: Audit; Environmental, Health, & Safety (EH&S); Finance; Governance & Nominating; and Personnel & Compensation. In May 2011, the responsibilities of the Finance Committee were assumed by the Audit Committee, and the Finance Committee was disbanded. Each of the committees consists entirely of independent directors.

The Board monitors public issues that have an impact on the company and maintains oversight of Ashland’s EH&S compliance practices. The Board recognizes the company’s responsibility to protect the health and safety of its employees and the public and to sustain the quality of the environment for future generations. Accordingly, the EH&S Committee was established to review and oversee EH&S policies, programs and practices that affect, or could affect, employees, customers, shareholders and neighboring communities. The primary responsibility for assuring compliance with EH&S laws and regulations lies with operating management.

During fiscal 2011, Ashland’s day-to-day operations were managed by a three-member executive committee and a 10-member operating committee.

Governance chair (GRI 4.2) James J. O’Brien, chairman and chief executive officer, is an executive officer and a member of the executive and operating committees and the Board of Directors. Ashland also has a lead independent director, who coordinates the activities of the company’s independent directors.

Mechanisms for recommendations (GRI 4.4) Ashland shareholders as of the declared record date are entitled to vote upon matters that come before the company’s annual meeting of shareholders, held in January each year. Each Ashland proxy statement provides information as to how shareholders may submit proposals for consideration at the following year’s annual meeting, as well as the process by which shareholders and other interested parties may communicate with the Board.

In addition, Ashland’s external website provides a feedback form for contacting the Investor Relations department and a mechanism to sign up for email notifications about Ashland’s financial information.

Ashland employees are provided numerous opportunities to engage with executive management, including via worldwide corporate, commercial-unit and resource-group town hall meetings, and regional and facility-based employee meetings.

All of these communication channels for employees provide a question-and-answer period. Additional resources are available, such as global and regional executive email boxes, facility suggestion boxes, and a variety of surveys, for employees to provide feedback, suggestions and new product ideas to company management.

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Fiscal 2011 Sustainability Overview Stakeholder groups (GRI 4.14) Ashland has many worldwide stakeholder groups affected by the company’s long-term sustainability, including, but not limited to: • Approximately 118,000 customers.

• Approximately 15,000 employees.

• Members of APAI, BCTGM, IAM, IBT, ICWU, IUOE, Metal Trades Council, UAW, UFCW and USW unions, as well as other chemical-industry trade unions around the world.

• Approximately 21,000 different suppliers.

• The numerous communities in which it operates.

Stakeholder engagement (GRI 4.15) Sales, marketing and research groups throughout Ashland’s commercial units engage their customers, identify their needs, and align research-and-development programs to create innovative solutions centered around cost reduction, sustainability and quality. This is achieved by creating relationships based on mutual trust, with a focus on combined success.

To promote transparency and two-way dialogue, Ashland proactively engages with community officials and neighbors where the company operates. Ashland’s major campuses and facilities address various community needs by developing annual community relations plans that focus on education, the environment, and health and human services. In addition, Ashland’s community relations manager and contributions program manager make recommendations on the areas and organizations for Ashland to support with money and/or volunteer hours.

Ashland employees are vital to the company’s success and are offered frequent opportunities to participate in open-dialogue meetings with the organization’s top management. During these meetings, employees are invited and encouraged to participate in question-and-answer sessions.

GRI Performance Indicators – 23 Selected for Fiscal Year 2011 Financial implications and other risks and opportunities due to climate change (EC2) As noted above under Items 4.1 and 4.3, Ashland maintains a Board-level EH&S committee that monitors public issues having an impact on the company and oversees Ashland’s EH&S compliance practices. The vice president of EH&S presents potential climate-change impacts and greenhouse-gas (GHG) emissions estimates to the board.

Ashland has been publicly reporting about these risks and opportunities to the Carbon Disclosure Project every year since 2006. These statements were also incorporated in the Ashland annual report on Form 10-K for the 2011 fiscal year.

Physical risks have the potential to affect Ashland sites in areas prone to sea-level rise or extreme weather events much as they do the general public and other businesses. However, the company anticipates only minor damage to its sites, and most are expected to be able to return to operation after restoration of 10

Ashland Inc. utilities. Resource shortages resulting from these physical risks are also expected to have a similar effect on Ashland as they will on other businesses.

The main regulatory risks to the company involve additional regulatory controls, such as cap-and-trade, permitting, and emission-reporting regulations that would unfavorably affect Ashland as they would all of industry. While these potential regulatory burdens are not expected to affect most of Ashland’s facilities directly due to their low GHG emission rates, Ashland operates a few facilities that could potentially be subject to GHG-emissions reporting or permitting requirements. Ashland could also be indirectly affected by the impact on suppliers and customers.

Ashland participates in several markets that have developed as a result of climate change. Ashland’s products have been used for years to create lightweight composites for the automotive industry, which improves fuel efficiency, and for the production of wind turbine blades. Other Ashland products have been used in the development of composite building and construction materials, which can replace traditional concrete and steel construction, provide longer structure life, reduced maintenance requirements and improved energy efficiency. Ashland has also been producing products made from bio-renewable resources for several years, and continues to increase those capacities.

In addition to currently manufactured products, Ashland is constantly evaluating adjacent market opportunities that develop as alternative technologies expand and evolve.

Coverage of Ashland’s defined benefit plans (EC3) Ashland and its subsidiaries sponsor noncontributory qualified and nonqualified defined benefit pension plans that cover many employees in the United States and in a number of other countries. In addition, the company also sponsors unfunded postretirement benefit plans, which provide health care and life insurance for eligible employees who retire or are disabled. The accumulated benefit obligation for all pension plans was $4.1 billion in fiscal 2011 and $3.9 billion in fiscal 2010.

Percentage of materials used that are recycled input materials (EN2) Ashland attempts to incorporate recycled materials where possible in the production and packaging of its products.

During fiscal 2011, 10 percent of steel drums and 4 percent of plastic drums Ashland purchased globally were reconditioned, representing 2.1 million pounds of steel and more than 436,000 pounds of plastic. In addition, 9 percent of intermediate bulk containers purchased were reconditioned, representing more than 2.6 million pounds of hot-dipped galvanized steel and more than 1.3 million pounds of plastic.

Ashland Performance Materials used in excess of 6.8 million pounds of recycled polyethylene terephthalate, polypropylene glycol, methyl ethyl ketone and dimethylformamide, as well as reconditioned drums and totes. Overall, recycled content represented approximately 0.6 percent of total input materials used by Performance Materials.

Oct. 1, 2010, to Sept. 30, 2011

Ashland Inc.

Fiscal 2011 Sustainability Overview

Ashland Consumer Markets reported that in fiscal 2011, overall its products contained 4.8 percent recycled content, based on tons of recycled materials, including cardboard, plastics, reconditioned drums and re-refined base oils, as compared with tons of product shipped. Recycled content increased by more than 45 percent, in comparison to 2010, and was generated by the launch of NextGen™ motor oils made with 50 percent re-refined oil.

Total water withdrawal by source (EN8) In fiscal 2011, Ashland’s facilities consumed 19.34 million cubic meters of water globally, with the largest percentage used for noncontact cooling water. The 2011 increase in water withdrawal was primarily associated with the purchase of the Neal, W.V., plant. The following table provides information as required by Performance Indicator EN8:

Breakdowns of recycled input materials were not readily available from all commercial units.

Water Withdrawal by Source (in millions of cubic meters) FY2011 FY2010 FY2009 Municipal water 7.60 5.66 4.74 Surface water (lakes, rivers, etc.)

6.02 7.95 9.35 Groundwater 5.71 4.22 3.81 Total Water Usage (continuing operations) 19.33 17.80 17.90

Direct and indirect energy consumption by primary energy sources (EN3 and EN4) During fiscal 2011, Ashland’s global operations consumed 7,260,000 gigajoules (GJ) of direct energy and 3,960,000 GJ of indirect energy, as compared with 9,210,000 GJ and 3,570,000 GJ, respectively, in fiscal 2010. These amounts are based on the best available data at time of publication. Direct energy includes the consumption by both process and mobile equipment of fuels, such as natural gas, coal, liquefied petroleum gas, diesel and fuel oil, and gasoline. The decrease in direct energy consumption was mainly due to the sale or shuttering of several plants, although direct energy consumption by many plants increased due to an increase in production at those locations. Direct process energy sources include all fuels used by Ashland plants to prepare goods for consumption, sale and transport, as well as to provide comfort heating for all employees. Direct mobile energy sources include fuels that are combusted in Ashland-owned vehicles, such as fleet cars, light-duty vehicles and product-delivery fleets, driven

by Ashland employees. Use of indirect energy, primarily electricity and steam, increased mainly due to increased production.

Water sources significantly affected by withdrawal of water (EN9) In fiscal 2011, Ashland’s Franklin, Va., facility withdrew 1.63 million cubic meters of groundwater from the Potomac Aquifer. This compares to 1.69 million cubic meters in fiscal 2010. Recently, the water levels in the aquifer have increased steadily as other users reduced their water withdrawal.

Total direct and indirect greenhouse gas emissions by weight (EN16) Based on the best available data, in fiscal 2011, Ashland’s GHG emissions in carbon-dioxide equivalents (CO2-E) from global operations were 453,000 metric tons (MT) of direct emissions and 269,000 MT of indirect emissions. This compares with 639,000 MT of direct emissions and 272,000 MT of indirect emissions in fiscal

Helping Preserve the World’s Most Important Resource Ashland’s commitment to the industrial water treatment market starts with enviROInnovationSM – our pledge to provide a documented return on investment (ROI) for every customer we serve, through the innovative and environmentally responsible solutions we provide. For example, our OnGuard™ 2-plus analyzer is setting a new standard for managing water quality, water chemistry, and microbiological activity in commercial and industrial cooling water systems.

Using proprietary technology, the OnGuard™ 2-plus analyzer directly measures critical cooling water and heat exchanger performance indicators and parameters, including corrosion, fouling, pH, conductivity, temperature, oxidation reduction potential and water flow. Using the real-time measurements, system operators can immediately respond to system upsets before they become a problem. The OnGuard™ 2-plus analyzer has proven in numerous commercial applications to reduce water consumption and energy use, optimize related chemical treatment programs, and improve facility productivity.

Oct. 1, 2010, to Sept. 30, 2011

11

Fiscal 2011 Sustainability Overview 2010. Ashland follows the standards and methodologies from the World Resource Institute/World Business Council for Sustainable Development’s GHG Protocol. All GHG emissions are calculated using published conversion and emission factors.

Biodiversity effect on water bodies by discharges of water (EN25) This information is not collected by the company at this time.

However, wastewater at the majority of Ashland’s sites is processed through publicly owned treatment works (POTWs) prior to discharge to water bodies. Where wastewater is not discharged to a POTW, Ashland has obtained and complies with applicable permits to minimize impact on receiving waters.

Therefore, Ashland’s discharges do not significantly affect the biodiversity value of water bodies and related habitats beyond those found in typical developed areas.

Monetary value of significant fines and total number of nonmonetary sanctions for noncompliance with environmental laws and regulations (EN28) (1) CERCLA and Similar State Law Sites – Under the Comprehensive Environmental Response, Compensation and Liability Act of 1980 and similar state laws, Ashland and its subsidiaries may be subject to joint and several liability for cleanup costs in connection with alleged releases of hazardous substances at sites where it has been identified as a “potentially responsible party” (PRP). As of September 30, 2011, Ashland and its subsidiaries have been identified as a PRP by U.S. federal and state authorities, or by private parties seeking contribution, for the cost of environmental investigation and/or cleanup at 95 waste treatment or disposal sites. These sites are currently subject to ongoing investigation and remediation activities, overseen by

Ashland Inc. the United States Environmental Protection Agency (USEPA) or a state agency, in which Ashland or its subsidiaries are typically participating as a member of a PRP group. Generally, the type of relief sought includes remediation of contaminated soil and/ or groundwater, reimbursement for past costs of site cleanup and administrative oversight and/or long-term monitoring of environmental conditions at the sites. The ultimate costs are not predictable with assurance.

(2) Franklin, Virginia, Multi-Media Environmental Compliance Inspection – In April 2005, Hercules’ Franklin, Virginia, manufacturing facilities were subject to a multi-media environmental compliance inspection by the USEPA and the Virginia Department of Environmental Quality (VADEQ). In April 2008, the results of the inspection were provided to Hercules.

The inspection identified areas of potential noncompliance with various environmental regulations. Hercules and another defendant reached a final settlement with the USEPA in September 2011 pursuant to which they agreed to pay a civil penalty in the aggregate amount of $700,000. Court approval of the settlement was received in October 2011.

(3) Hopewell, Virginia, Clean Air Act Compliance Inspection – In April 2007, Hercules’ Hopewell, Virginia, manufacturing facilities were subject to a Clean Air Act (CAA) compliance inspection by the USEPA and the VADEQ. In April 2008, the results of the inspection were provided to Hercules. The inspection uncovered areas of potential noncompliance with air emissions regulations.

In March 2011, Hercules received from the USEPA a proposed consent decree which included certain remedial actions and a proposed penalty assessment in excess of $100,000. Hercules is engaged in negotiations with the USEPA and the VADEQ

Using nature’s best for more beautiful skin Advanced skin care technology has never come easily or inexpensively. For centuries, humans have travelled to the far corners of the Earth in search of new ways to attain younger-looking more beautiful skin.

Today, with Ashland’s Natriance™ line of skin care ingredients, consumers everywhere can effortlessly get younger-looking and more pampered skin thanks to a variety of ingredients found in nature. Natriance extracts are derived from natural sources – such as pea, flaxseed, corn, bran and soybean – and are formulated into a variety of creams, lotions, serums and other products for the mass market. Because they are developed using vegetable-derived ingredients, the Natriance ingredients are giving formulators greater options for creating the latest in natural skin care products, while helping deliver a new level of protection and performance to consumers around the world.

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Simply essential, inspired by Nature™

Oct. 1, 2010, to Sept. 30, 2011

Ashland Inc. concerning this matter. While it is reasonable to believe that this matter could potentially involve penalties exceeding $100,000, the potential liability with respect to this matter should not be material to Ashland.

(4) Hattiesburg, Mississippi, Resource Conservation and Recovery Act Matter – In November 2008, the Mississippi Department of Environmental Quality (MDEQ) issued a Notice of Violation to Hercules’ now-closed Hattiesburg, Mississippi manufacturing facility alleging that a storm water retention basin at the facility had been operated as a hazardous waste storage and treatment facility without a permit in violation of the Resource Conservation and Recovery Act. Ashland has been working with the MDEQ to settle this matter in the context of the shutdown and ongoing remediation of the Hattiesburg facility. The MDEQ proposed a settlement penalty in excess of $100,000. In May 2011, the USEPA issued an inspection report from a September 2010 inspection with allegations similar to those of the MDEQ and promulgated an information request. While it is reasonable to believe that this matter will involve a penalty from the MDEQ and/or the USEPA exceeding $100,000, the potential liability with respect to this matter should not be material to Ashland.

(5) Louisiana, Missouri, Air Inspection and Penalty Assessment – In 2007, the USEPA conducted an inspection of Hercules’ Louisiana, Missouri production facility for compliance with the CAA’s Leak Detection and Repair regulations. Hercules subsequently provided additional information to the USEPA in response to matters identified during the inspection close-out meeting. The USEPA and Hercules entered into a final order pursuant to which Hercules was assessed a penalty of $245,500. The court approved the final order in September 2011.

For additional information regarding environmental matters and reserves, see Ashland’s annual report on Form 10-K for fiscal 2011.

Total workforce by employment type, contract and region (LA1) Ashland reported approximately 15,000 employees as of fiscal year-end 2011. Of these, approximately 94 percent were full-time employees. Approximately 13 percent were located in the Asia Pacific region; 21 percent in Europe, the Middle East and Africa; 61 percent in North America; and the remaining 5 percent in Latin America.

Percentage of employees covered by collective bargaining agreements (LA4) In North America during fiscal 2011, approximately 1,200 full-timeequivalent employees were covered by collective bargaining agreements at 23 work locations. This represented approximately 14.4 percent of the total North American workforce.

Minimum notice periods regarding significant operational changes, including whether specified in collective agreements (LA5) If the applicable management rights clause or provisions that specifically waive the negotiations process are absent, the National Labor Relations Act (NLRA) would require that Ashland and the union meet prior to operational changes that affect or Oct. 1, 2010, to Sept. 30, 2011

Fiscal 2011 Sustainability Overview impact wages, hours, and terms and conditions of employment.

There is no specific timing for such discussions, and actual time will vary based upon the complexity of the issue. Time specification is not required under law to be incorporated within a collective bargaining agreement, and none of the Ashland collective bargaining agreements provide for a specific period of time.

All Ashland collective bargaining agreements contain a savings clause provision, which requires Ashland and the union to renegotiate any contractual provision during the term of the agreement if such provision is declared invalid due to changes in law.

Programs in place to assist employees regarding serious diseases (LA8) The two categories within Ashland Medical Affairs are occupational medical compliance and personal health and wellness. Both provide opportunities for education and appropriate medical examinations for workers and, in some cases, their families.

The medical compliance programs are designed to assure full compliance with governmental programs related to worker health and occupational exposures. In addition to providing medical exams, education is incorporated to assure the workforce is properly trained to understand and control risks in the workplace. For some specific risks, parallel medical treatments are made available at the worksite to expedite treatment when necessary.

In the personal health and wellness category, an employee assistance program is offered at no cost to employees and families in Canada and the United States to deal with substance abuse and mental health issues. Other programs include weight reduction, smoking cessation, flu shots, health-risk appraisals and assistance with biological issues such as avian influenza, SARS and malaria.

While many of the above programs are available to North America employees only, Ashland Medical Affairs continues to globalize their initiatives. Development of the following additional programs now gives Medical Affairs the ability “to reach out and touch any medical issue, any time, any place in the world.”

• Automatic external defibrillator management program, now available globally.

• Health First, a health and wellness initiative provides a health risk appraisal in 25 languages globally.

• International SOS provides global medical support for (a) all employees traveling internationally, (b) severely injured workers outside the US, and (c) various medical issues that may arise in the course of global business.

Average hours of training per year per employee (LA10) The company’s online Learning Management System (LMS), which tracks some, but not all, global training, offered 829 courses to employees, representing 1,579 available training hours, in fiscal 2011. This compares with 738 active courses and 1,443 available training hours in fiscal 2010.

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Introducing another first for the environment In early 2011, the innovators at Ashland launched an entirely new motor oil category with their latest technology breakthrough: Valvoline NextGen™, the first oil that’s 50 percent recycled oil and 100 percent Valvoline™ performance. In 2012, Ashland achieved another first through its Eagle One™ brand with the launch of the Enviroshine™ line of “green” automotive appearance products.

In the U.S. alone, more than 32 million pounds of household cleaning products that may contain harmful chemicals are poured down drains each day. In the new Enviroshine line of products, commonly used petroleum-based chemicals have been replaced with ingredients that are safer for the environment. These new formulas are free of harsh acids, solvents, phosphates and petroleum distillates that can be harmful to humans and animals.

The EnviroShine car wash, wheel cleaner, and glass cleaner formulas are also biodegradable and will not produce run-off that could harm aquatic life or the water system, or fumes that may affect air quality or the ozone layer.

Full-time Ashland employees completed 213,862 hours of LMSprovided training during fiscal 2011, or an average of 17.55 hours per full-time employee. This compares with 205,196 hours of training during fiscal 2010, or an average of 17.02 hours per fulltime employee. There were 224,797 course completions during fiscal 2011, or an average of 18.5 course completions per full-time employee. This compares with 191,233 course completions and an average of 16 course completions per full-time employee in fiscal 2010.

Skill development and lifelong learning for employees (LA11) Ashland’s Learning Management System provides employees with their required training classes in 13 languages and offers optional classes to further employee development. Classes are available addressing topics such as safety, compliance, customer service, business skills, product training and management skills.

In 2011, 32 new professional effectiveness courses were added, many in multiple languages.

Part-time Ashland employees completed 10,225 hours of training during fiscal 2011, with an average of 13.33 hours spent per parttime employee. This represented 21,497 course completions, with an average of 28 course completions per part-time employee.

This compares with 3,835 hours of training during fiscal 2010, with an average of 7.76 hours spent per part-time employee.

This represented 6,128 course completions in fiscal 2010, with an average of 12 course completions per part-time employee. The significant increase in numbers represents more accurate global reporting and the addition of more courses available in local language.

Percentage of employees receiving performance reviews (LA12) During fiscal 2011, 78.36 percent of Ashland’s employees worldwide, excluding those covered by collective bargaining units, received annual performance appraisals. This compares with 78 percent during fiscal 2010. More than 94% of salaried, non-manufacturing employees received performance ratings in 2011. In addition to performing annual performance appraisals, Ashland managers are expected to review with their employees, on a quarterly basis, their progress toward achieving annual goals.

Data by region were not readily available.

Ashland also provided tuition assistance for U.S. employees enrolled in higher education programs directed at improving their job performance or helping them prepare for a future job within the company. Sixty-six full-time employees participated in the program during the second half of fiscal 2011.

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Child labor (HR6) Ashland abides by child labor laws and does not employ underage workers in its worldwide operations.

Forced and compulsory labor (HR7) None of Ashland’s operations employs forced or compulsory labor.

Total number of incidents of violations involving rights of indigenous people and actions taken (HR9) Ashland has no violations involving the rights of indigenous people.

Oct. 1, 2010, to Sept. 30, 2011

Ashland Inc. Percentage of employees trained in anticorruption policies (SO3) The Global Standards of Business Conduct booklet is the foundation of Ashland’s comprehensive compliance program. The booklet has been translated into 11 languages and underscores Ashland’s commitment to the law and high ethical standards.

The Board of Directors has designated the general counsel as Ashland’s chief compliance officer and chair of the Ethics and Compliance Committee to oversee the compliance program.

All Ashland employees worldwide are required to complete annual training on the legal and ethical standards presented in the Global Standards of Business Conduct. In 2011, more than 3,190 individual completions also were recorded for online training courses covering antitrust, bribery, corruption, the U.S. Foreign Corrupt Practices Act and competition laws around the world. Certain courses are required from year to year, while others are taken based on supervisor directive or personal initiative.

These online courses were translated and available in multiple languages.

In addition, specific corporate policies and procedures support the Global Standards of Business Conduct and are accessible through the employee intranet.

Fiscal 2011 Sustainability Overview Performance Materials is able to develop action plans for improvement in alignment with its overarching philosophy that its investments in people, processes and products must continue to focus on meeting the needs of customers both now and in the future.

Ashland’s Valvoline Instant Oil Change™ business unit solicits feedback on an ongoing basis from customers of its approximately 750 company-operated and franchised automotive service centers. Store managers use this customer feedback to improve service levels and recognize their team members for outstanding performance. Executives use the customer satisfaction data in combination with other key performance indicators to gain insight into emerging business trends.

Valvoline Instant Oil Change also conducts other types of market research to better understand both consumers’ needs and its brand equity in the competitive marketplace. Additionally, customer feedback is welcomed via the Valvoline Instant Oil Change website and its call center, where trained customer-care agents respond to customer questions and resolve any issues that arise.

Practices related to customer satisfaction (PR5) Ashland’s commercial units conduct market research as appropriate to measure customer satisfaction and foster continuous improvement.

Ashland also provides a mechanism via a “Contact Us” form on its public website, ashland.com, whereby customers, investors and potential investors, employees and potential employees, the media, retirees and other stakeholders can submit a comment, question or complaint. These messages are relayed to appropriate personnel for response.

As an example, Ashland Performance Materials surveys its customers annually to understand their perspective on Performance Materials’ strengths and opportunities. The electronic survey is emailed to key individual contacts at more than 500 customers and includes questions about critical areas such as quality, innovation and customer service. Using the customers’ feedback, coupled with year-over-year analysis,

Total number of substantiated complaints regarding breaches of customer privacy and losses of customer data (PR8) None of Ashland’s commercial units, resource groups or information-technology-supported networks and systems has received any substantiated complaints relating to breach of customer privacy and/or loss of customer data.

Oct. 1, 2010, to Sept. 30, 2011

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Fiscal 2011 Sustainability Overview

Narrative on other GRI aspect groupings Economic performance Ashland’s 2011 performance For the fiscal year ended Sept. 30, 2011 Ashland’s net income amounted to $414 million, or $5.17 per diluted share, as compared with $141 million, or $1.78 per diluted share, for fiscal 2010.

Ashland’s operating income amounted to $130 million, and the company achieved Adjusted EBITDA of $820 million in fiscal 2011. This compares with operating income of $249 million and Adjusted EBITDA of $808 million in fiscal 2010. For fiscal 2011, Ashland generated cash flows from operating activities from continuing operations of $243 million as compared with $551 million for fiscal 2010.

Sales to external customers worldwide were $6.5 billion in fiscal 2011 as compared with $5.7 billion in fiscal 2010. Global property, plant and equipment assets totaled a net $2.9 billion in fiscal 2011 as compared with $1.8 billion in fiscal 2010.

Market presence Wage fairness Ashland pays above local minimum wage in all countries in which it does business. The company participates in a variety of compensation surveys to establish an objective benchmark upon which employee compensation plans are based.

Indirect economic impacts Investments for the public good In the United States, Ashland supports community health and human services organizations through an annual Employee Giving Campaign. The campaign offers employees the ability to direct donations to a number of organizations; in turn, Ashland provides a company match. During the past five years, Ashland has provided nearly $1.6 million in matching funds. For Ashland’s fiscal 2011 campaign, employees were able to choose among the American Cancer Society, American Diabetes Association, American Heart Association, American Red Cross, Big Brothers Big Sisters of America, Community Health Charities, Earth Share, Feeding America, Global Impact, Habitat for Humanity and the United Way to receive their support. Ashland believes offering a variety of options lets employees direct funding to organizations that are meaningful to them and provides a means of helping the greatest number of people – in their neighborhoods and around the world.

Energy Energy improvement and renewable-energy initiatives Many people are involved in reducing energy use across Ashland, and there is a companywide energy savings program to reduce energy use, cost and GHG generation. For this program, energy is defined as electricity, natural gas, coal, fuel oil and energyintensive nitrogen and steam utilities. To minimize bureaucracy, the program uses a task-force structure and employee volunteers, 16

Ashland Inc. supported by management, who assist with the program.

Ashland’s engineering department supports plant efforts to reduce energy; initiates programs; teaches new technologies; helps develop capital projects; and evaluates the potential use of new energy-saving technologies.

From the establishment of the task force in 2009 through December 2011, energy audits were completed at 23 manufacturing plants and 22 distribution facilities in the U.S. As a result potential improvements suggested by the energy audits, a number of projects were initiated that reduced energy use and increased efficiency.

In 2011, lighting upgrades were completed in 16 U.S. and three international manufacturing plants. Work also commenced on the installation of four new, gas-fired, steam boilers that replaced older, less energy-efficient boilers with new high-efficiency boiler systems. Two of these projects resulted in the shutdown of large coal-fired steam and electric producing plants in 2012. Three projects were completed that insulated previously un-insulated tanks and piping to increase energy savings. Three air compressor projects were completed that replaced older inefficient air compressors and dryers with new variable speed drive compressors and high efficiency dryers.

At the Water Technologies manufacturing plant in Helsingborg, Sweden, an economizer was installed on the boiler system, resulting in an estimated 10% reduction of natural gas consumption, which is equivalent to 56,000 m3 of natural gas.

Additionally, two large energy initiatives in Water Technologies that were started in 2011 came online in 2012. The installation of two natural gas boilers at our Franklin, Va., U.S., plant, was completed in May 2012, replacing steam that was previously provided by a local coal-fired power plant. In February 2012, construction of a satellite emulsion facility was completed at a customer site in the Southeast U.S. The on-site emulsion plant eliminates 400 tank-truck deliveries and 600,000 tractor trailer miles (equivalent to 25 trips around the world) each year.

Consumer Markets has been actively meeting energy reduction and sustainability goals for its retail customers. In April 2011, Consumer Markets rolled out to the U.S. market its NextGen line of motor oils, which are made of 50-percent re-refined base oil and combined with Valvoline’s emission-systemprotection chemistry. These oils not only meet or exceed the same industry standards as conventional motor oils, but also adhere to Valvoline’s high quality standards. The use of recycled oil reduces impact on the environment as compared with oils made without recycled content. The amount of energy used to find, drill, transport and refine crude oil is significant. Recycled oil eliminates or reduces many of these steps and, therefore, has a smaller carbon footprint, reduces energy consumption and lowers pollutants that contribute to climate change. Recycled oil also helps reduce the need for new drilling and crude refining by reusing what’s already been pulled out of the ground.

Overall in 2011, the energy conservation measures implemented

by Consumer Markets at manufacturing plants and retail Oct. 1, 2010, to Sept. 30, 2011

Ashland Inc. locations reduced energy consumption by 4.3%. Activities included lighting, pump, air compressors and tank insulation upgrades. Additionally, preliminary engineering activities started for solar power generation projects at three Consumer Markets’ facilities. Store lighting upgrades to high efficiency lighting were also completed at hundreds of Valvoline Instant Oil Change stores throughout the U.S. One project for 140 exterior lighting conversions to high-efficiency induction fixtures was awarded a Certificate of Recognition by American Electric Power for reducing energy use by more than 600,000 kW/hrs per year.

Ashland Specialty Ingredients continues to aggressively pursue reductions in energy use, focusing on engineering initiatives that reduce the power consumption of energy-intensive equipment at production facilities. This includes projects related to fuel optimization, insulation and heat recovery, steam and fuel conservation, and alternative fuel use and system redesigns. In 2011, energy reduction initiatives were implemented across eight major manufacturing facilities supporting Specialty Ingredients that resulted in a 1.1% reduction in overall energy usage. This reduction in energy usage resulted in $500,000 in annual savings.

As a result of its energy initiatives, Ashland continues to reduce its overall energy use and carbon footprint, improve plant safety and work environment by improving lighting and insulation and reduce steam leaks; and enhanced overall profitability.

Biodiversity Habitats protected or restored Active efforts are underway to protect and/or restore wildlife habitats at Ashland facilities and remediation sites. These efforts include the restoration and enhancement of wetlands and

Fiscal 2011 Sustainability Overview protection of endangered species that meet or exceed the requirements of laws and regulations. In 2011, Ashland joined the Wildlife Habitat Council (WHC), a nonprofit, nonlobbying group of corporations, conservation organizations and individuals dedicated to restoring and enhancing wildlife habitat. As part of its membership program, Ashland completed four opportunity reports, and has implemented wildlife projects at three of those locations, which include a closed landfill and a reclaimed temporary waste storage area. Ashland is now in the process of seeking WHC certification at these sites and plans to add several new projects to our WHC portfolio each year.

Plans for managing impacts on biodiversity WHC’s programs take corporate sustainability objectives and convert them into tangible, measurable on-the-ground action. As part of its membership, Ashland works with the WHC to identify and implement projects that will have a positive impact on biodiversity.

Emissions, effluents and waste Waste management Ashland has extensive global programs to manage the air emissions, waste water effluent and solid wastes generated by our operations. Ashland has implemented effective programs to reduce waste at all source levels by optimizing processes to reduce raw material consumption, recycle waste streams into beneficial products and convert waste stream into energy recovery. Additionally, Ashland has an ongoing qualification program for waste handling suppliers to assure that the safest, most environmentally sound options for waste management are used.

Discovering the crucial role of chemistry Ashland’s community involvement extends beyond the workplace and sometimes even beyond the term of employment. Our efforts have a common purpose: bettering the place where we live and work, and helping improve understanding of chemistry’s role in society.

For example, as part of our global support of the International Year of Chemistry (IYC) in 2011, Ashland’s manufacturing plant in Tarragona, Spain, participated in the ‘’Chemistry, our life, our future” exhibit organized by the Chemical Business Association of Tarragona (AEQT).

The exhibition consisted of various venues designed to illustrate the extraordinary impact that chemistry has on our daily lives. With more than 10,000 visitors over its nine-day run, experiments, conferences, presentations and hands-on activities showcased to a broad audience the innovative products and initiatives that make the chemical industry an essential part of the world around us.

Oct. 1, 2010, to Sept. 30, 2011

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Sharing a common commitment What’s different about a zero incident culture? It starts with knowing what it takes to do a job without incident.

But it’s more than that. It also involves recognizing the conditions or behaviors that could lead to an incident, such as an injury, and making the necessary corrections.

Ashland Total Recordable Rate* Excludes Valvoline Instant Oil Change

4

By incorporating a zero incident culture, we can provide a workplace where a focus on safety, security and reduced environmental impact is the natural way of doing things by:

3 2 1 0

2007

2008

Ashland

2009

2010

2011

Chemical Industry

* Recordable injury and illness rate per 200,000 hours worked.

Industry statistics from the U.S. Department of Labor Bureau of Labor Statistics. At the time of printing this report, chemical industry data was not yet available for 2011.

• Integrating environmental, health, safety and security as core values into every aspect of our business.

• Managing these core values as a process, using plando-check-act to promote safe behavior and ensure 100 percent compliance.

• Providing management leadership for the processes and behaviors that result in zero incidents.

• Engaging the whole organization, because incidentfree performance isn’t possible without everyone’s participation and commitment.

Employment

Occupational health and safety

Ashland employee benefits During fiscal 2011, Ashland employed approximately 15,000 individuals worldwide on six continents.

OSHA recordable injury rate Ashland’s Global Total Recordable Injury Rate (TRR) (number of incidents X 200,000/total hours) was 1.11 in fiscal 2011 as compared with 1.37 in fiscal 2010. Excluding Valvoline Instant Oil Change retail stores, Ashland had a fiscal 2011 global recordable injury rate of 0.96. The regional injury rates for Ashland in fiscal 2011 were: Asia Pacific, 0.59; Europe/Middle East/Africa, 1.08; North America, 1.00; and South America, 1.40. This compares with fiscal 2010 rates of 0.33 in Asia Pacific, 0.85 in Europe/Middle East/ Africa, 0.90 in North America and 2.31 in South America.

The great majority of full-time U.S. employees in all major operational areas, excluding Valvoline Instant Oil Change hourly workers, are offered the following benefits: 401(k) savings; medical and dental insurance; health savings account (HSA); vision cost assistance; flexible spending accounts (FSA); voluntary and occupational accidental death and dismemberment insurance; business travel accident insurance; employee, spouse and child life insurance; long-term disability and long-term care insurance; group legal; and group auto and home insurance.

Part-time exempt employees working at least 20, but not more than 24, hours a week receive the same benefits, but pay different rates (2x) for medical and dental insurance.

Part-time exempt employees working more than 24 hours a week receive the same benefits, but also pay different rates (1.5x) for medical and dental insurance.

Executives receive financial planning, non-qualified retirement benefits, and long-term incentives.

Ashland also has some employees in unions whose benefit options differ slightly, in accordance with the terms of their collective bargaining agreements.

Employee benefits in countries outside the United States are largely governed by national legislation and are often supplemented by a variety of company-sponsored plans, depending upon the country.

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Valvoline Instant Oil Change retail stores had a recordable injury rate of 1.99 in fiscal 2011, which compares with 4.52 in fiscal 2010.

The TRR includes work-related injuries and illnesses for employees and directly supervised contractors that result in one or more of the following: death, days away from work, restricted work activity, transfer to another job, medical treatment beyond first aid, any loss of consciousness, and/or significant injury or illness diagnosed by a physician or other licensed healthcare professional.

The Days Away from Work Incidence Rate (DAWIR) (number of incidents involving days away from work X 200,000/total hours) for Ashland, excluding Valvoline Instant Oil Change retail stores, was 0.38 in fiscal 2011 compared to 0.40 in fiscal 2010.

Diversity and equal opportunity Indicators of diversity As a global specialty chemical company, Ashland’s growth will continue to be fueled by countries around the world. Ashland has a significant presence in Australia, Brazil, Canada, China, Germany, Oct. 1, 2010, to Sept. 30, 2011

Ashland Inc. Netherlands, Russia, Spain, the United States and many other countries.

In recognizing the importance of diversity and inclusion in creating good chemistry – both within Ashland and with Ashland’s customers – Ashland is committed to actively creating an environment where each team member feels empowered to learn, grow and maximize his or her personal contribution.

Leveraging the similarities and differences that shape each individual will continue to encourage innovative thinking and drive the kind of sustainable, competitive advantage that will help Ashland grow and prosper for decades to come.

All employees are encouraged to help foster a culture of inclusion.

In 2011, Ashland launched two employee-led networking groups, the Ashland Women’s International Network (AWIN) and the African-American Leadership Network (AALN). The networking groups provide members with a forum to communicate and exchange ideas, build a network of relationships across the company, and pursue personal and professional development.

However, membership in any employee networking group is open to all employees.

Investment and procurement practices

Fiscal 2011 Sustainability Overview

Community Local community programs Community partnerships enable Ashland to combine resources with organizations to maximize impact and outcomes.

Ashland encourages and assists employee volunteers in their community-building activities. Through Ashland’s Dollars for Doers program in the U.S., employees who volunteer at least 20 hours with a nonprofit organization can apply for a $250 grant to support the organization they’ve served.

Since 1988, Ashland has recognized outstanding Kentucky (USA) teachers with its Teacher Achievement Awards. In 2001, Ashland began a partnership with the Kentucky Department of Education that combined the best elements of the Teacher Achievement Awards and the state Teacher of the Year program.

The combination of these programs has resulted in Ashland’s awarding more than $631,500 to nearly 425 teachers of grades kindergarten through 12.

At times, Ashland is able to combine its focus on education and the environment. In many plants and facilities our employees partner with local schools to help support sustainability efforts such as recycling and proper disposal of chemical products.

Human rights training Ashland is committed to maintaining a work environment where people are treated with respect. Ashland does not tolerate the harassment of employees or applicants by anyone, including any supervisor, coworker or third party.

For example, since 2003, employees of Ashland’s gelcoat plant in Miszewo, Poland, have worked with schoolchildren on environmental education. The students collect plastic bottles throughout the school year, and Ashland redeems the bottles for trees that are planted throughout the community.

All U.S. and designated non-U.S. employees are required to periodically complete an anti-harassment training course. In fiscal year 2011, more than 920 Ashland employees successfully completed an online harassment awareness training course. This program was initially rolled out to global employees in fiscal year 2010, and was successfully completed by more than 7,500 Ashland employees.

Through its Valvoline packaging plant in Hernando, Mississippi, Ashland participates in Ability Works, a program from the State of Mississippi designed to help train and enable people who do not currently have the skills, history and / or ability to find and maintain employment. Some of these individuals are physically handicapped and others may be mentally or developmentally challenged.

Freedom of association and collective bargaining Right to exercise freedom of association In the U.S., most nonsupervisory employees are able to organize and bargain collectively on wages, hours, and terms and conditions of employment pursuant to the National Labor Relations Act (NLRA). Under the NLRA, Ashland may voluntarily recognize the union or request an election by secret ballot.

Ashland’s labor philosophy promotes nonunion representation as the company provides competitive wages and benefits for its employees. In addition, Ashland promotes open dialogue and reasonable workplace practices and policies for its employees without the intervention of a third party. However, for the locations that are unionized, Ashland recognizes the respective union as the exclusive representative of the employees in the bargaining unit and complies with all resulting legal and contractual obligations.

Oct. 1, 2010, to Sept. 30, 2011

In Shanghai, China, Ashland employees participated in a tree planting to raise public awareness for environmental protection, build a solid platform for a low-carbon economy in Shanghai, and offset/reduce the carbon emission generated from the Shanghai World Expo construction. Through greenland adoption, Ashland helps conserve land for parks, gardens and other natural places to ensure enjoyable communities for generations to come.

In Columbus and Cincinnati, Ohio, Ashland supports programs that take science and chemistry education from the museum to the classroom throughout Ohio and Kentucky.

As a Responsible Care company, Ashland proactively reaches out to identify with and assist communities around the globe where Ashland facilities are located. As part of Earth Day 2011, employee volunteers enhanced areas surrounding their facilities and many local communities by picking up trash and safely disposing of hazardous material. In addition, Ashland facilities hosted numerous community events as part of the 2011 International Year of Chemistry. Ashland facilities around the world support and address local health and human needs.

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Fiscal 2011 Sustainability Overview

Corruption Policy and practices Wherever Ashland does business, it must comply with the terms of its consent decree with the U.S. Securities and Exchange Commission and all anticorruption laws, including the U.S. Foreign Corrupt Practices Act (FCPA), which prohibit, among other things, the payment of money, gifts or other things of value to influence foreign officials. The United States, like nearly all countries, outlaws bribing its own government officials.

All of Ashland’s business units are analyzed for risks related to corruption.

Public policy Financial contributions to political parties or politicians Ashland corporate policy prohibits the use of corporate funds to make campaign contributions. Ashland maintains two federal political action committees (PACs) in the United States: the Ashland Inc. Political Action Committee for Employees (PACE) and the Hercules Incorporated Voluntary Political Action Committee, as well as two state PACs in Kentucky and Ohio.

Anticompetitive behavior Antitrust and monopoly policies Ashland is committed to full compliance with the antitrust laws of the United States, competition laws of the European Union and similar laws of other countries where Ashland does business.

Ashland Inc. Individual employees who violate antitrust or competition laws are subject to civil penalties and criminal sanctions up to and including prison sentences in some countries and disciplinary action up to and including termination.

Customer health and safety Policies and practices Ashland offers quality products and services that provide added value to its customers. These products can be used and processed, and services performed, in a safe manner.

Product stewardship summaries are provided to the public via the Ashland website and give more information about certain chemicals contained in various Ashland products. Ashland strives to improve the products it sells by reducing any product risk associated with their use or consumption, while maintaining the value derived by the customer.

Marketing communications Policies and practices Ashland competes for business aggressively and honestly and will not misrepresent its products, services or prices, make false or misleading claims about its products or services, or make false or misleading claims about the products and services of its competitors.

Going “green” for community Every day, the people of Ashland are working together for a common purpose: improving the places where we live and work. In our local communities in China, we’ve built a name as a pioneer in environmental protection by actively demonstrating our companywide commitment to sustainability and social responsibility.

In Shanghai, employee volunteers participated in a tree planting activity on a piece of land jointly shared

by Ashland, 3M, Eton and China Green Commuting Foundation. Ashland employees are committed to nurturing this piece of land in the coming five years.

Launched in 2009, the Green Commuting Foundation is designed to raise public awareness for environmental protection, build a solid platform for a low-carbon economy in Shanghai, and offset/reduce the carbon emission generated from the Shanghai World Expo construction. As Ashland expands its operations around the world, we continue to give back to the local community by supporting and partnering with key stakeholders as part of our commitment to a sustainable future.

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Oct. 1, 2010, to Sept. 30, 2011

Ashland Inc.

Fiscal 2011 Sustainability Overview

Indicator

Description

Page

Indicator

Description

Page

GRI 1.1

CEO statement

2

EN28

Monetary value of significant fines and total number of nonmonetary sanctions for noncompliance with environmental laws and regulations

12

LA1

Total workforce by employment type, contract and region

13

LA4

Percentage of employees covered by collective bargaining agreements

13

LA5

Minimum notice periods regarding significant operational changes, including whether specified in collective agreements

13

LA8

Programs in place to assist employees regarding serious diseases

13

Corporate Responsibility

4

GRI Application Level C

4

GRI Organizational Profile

5

GRI 2.1

Organization name

5

GRI 2.2

Primary brands and products

5

GRI 2.3

Operational structure

6

GRI 2.4

Headquarters location

6

GRI 2.5

Countries of operation

6

GRI 2.6

Ownership structure

6

GRI 2.7

Markets served

6

LA10

Average hours of training per year per employee

13

GRI 2.8

Organization scale

6

LA11

14

GRI 2.9

Significant operational changes

6

Skill development and lifelong learning for employees

GRI 2.10

Awards

8

LA12

Percentage of employees receiving performance reviews

14

GRI 3.1

Reporting period

8

HR6

Child labor

14

GRI 3.2

Most recent reports

8

HR7

Forced and compulsory labor

14

GRI 3.3

Reporting cycle

9

HR9

Contact point

9

Total number of incidents of violations involving rights of indigenous people and actions taken

14

GRI 3.4 GRI 3.5

Report content defined

9

SO3

15

GRI 3.6

Report boundary

9

Percentage of employees trained in anticorruption policies

GRI 3.7

Limitations of boundary

9

PR5

Practices related to customer satisfaction

15

GRI 3.8

Non-majority-owned enterprises

9

PR8

15

GRI 3.10

Restatements of previous information

9

Total number of substantiated complaints regarding breaches of customer privacy and losses of customer data

GRI 3.11

Significant changes from previous reports

9

Narrative on other GRI aspect groupings

GRI 3.12

GRI content index of standard disclosures

9

Economic performance

16

GRI 4.1 GRI 4.3

Governance structure and highest governance body

9

Market presence

16

Indirect economic impacts

16

GRI 4.2

Governance chair

9

Energy

16

GRI 4.4

Mechanisms for recommendations

9

Biodiversity

17

GRI 4.14

Stakeholder groups

10

Emissions, effluents and waste

17

GRI 4.15

Stakeholder engagement

10

Employment

18

Occupational health and safety

18

Diversity and equal opportunity

18

Investment and procurement practices

19

Freedom of association and collective bargaining

19

Community

19

Corruption

20

Public policy

20

Anticompetitive behavior

20

Customer health and safety

20

Marketing communications

20

GRI Performance Indicators – 23 Selected for Fiscal Year 2011

10

EC2

Financial implications and other risks and opportunities due to climate change

10

EC3

Coverage of Ashland’s defined benefit plans

10

EN2

Percentage of materials used that are recycled input materials

10

EN3 EN4

Direct and indirect energy consumption by primary energy sources

11

EN8

Total water withdrawal by source

11

EN9

Water sources significantly affected by withdrawal of water

11

EN16

Total direct and indirect greenhouse gas emissions by weight

11

EN25

Biodiversity effect on water bodies by discharges of water

12

Oct. 1, 2010, to Sept. 30, 2011

21

Global headquarters Ashland Inc. 50 East RiverCenter Blvd.

P.O. Box 391 Covington, KY 41012-0391 +1 859 815 3333 Asia Pacific Shanghai, China +86 21 2402 4888 Europe, Middle East, Africa Barendrecht, Netherlands +31 10 497 5000 Schaffhausen, Switzerland +41 52 560 55 00 Central, South America São Paulo, Brazil +55 11 3089 9220 ashland.com

® Registered trademark, Ashland or its subsidiaries, registered in various countries ™ Trademark, Ashland or its subsidiaries, registered in various countries * Trademark owned by a third party © 2012, Ashland PC-11673

All statements, information and data presented herein are believed to be accurate and reliable, but are not to be taken as a guarantee, an express warranty, or an implied warranty of merchantability or fitness for a particular purpose, or representation, express or implied, for which Ashland Inc. and its subsidiaries assume legal responsibility.

Infinite possibilities.

At Ashland, we are passionate about the possibilities created through good chemistry. We believe chemistry is about innovative, differentiated science — and also about the way people come together to solve problems. From the speed at which a call or email is returned to the lengths we go to in order to develop solutions that solve a specific customer need, good chemistry is what makes Ashland different and what makes us better. That’s why Ashland is one of the world’s leading specialty chemical companies.

In more than 100 countries, we provide the specialty chemicals, technologies and insights to help customers create new and improved products for today and sustainable solutions for tomorrow. People encounter our chemistries in a wide variety of markets and applications, including architectural coatings, automotive, construction, energy, personal care, pharmaceutical, tissue and towel, and water treatment. Through our deep industry knowledge and customer-focused innovation, we make great things happen every day.

Visit ashland.com to learn more.