On August 10, 2012, President Obama signed the Iran Threat Reduction and Syria Human Rights Act of 2012 (“the Act”) that significantly tightens sanctions
against Iran and companies that might help Iran develop its energy resources or advance its nuclear program. The Act generally expands and strengthens
prior Iranian sanctions and imposes additional reporting requirements on U.S. issuers with regard to foreign subsidiaries’ transactions with Iran.
To help ensure The Dow Chemical Company’s compliance with the Act, we will need your joint venture to supply information regarding any transactions with Iran,
the Government of Iran or an Iranian Government controlled entity. Please review and complete a copy of the attached “Iran Sanctions Reporting Questionnaire”
for each of the following JVs.