EFTA01462035

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 Products $410430 $406 1%-6% Adhesives & Plasticizers >3175 $173 1% Advance Materials $280-3300 5260 8%-15% Fibers -$480 5462 4% Specialty Fluids & Intermediates 3300-3320 5364 112%.18%) 1+) Higher vets as improvements in the transportation and budding & construction markets (-I Partial offset by contracted olefin spread. (+) Improved vets. better productivity and lower operating costs 4.}Campotitive pricing pressure in plasticizers 1i) Increased volume and mix improvement. (-I Costs of the unplanned shutdown. 1+I Strong acetate flake volume. lower raw material costs and higher selling prices. 1-I Lower tow acetate vole and higher operating costs 1-I Volatility of key raw materials (primarily 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 Ethane Pl0Mlene Ethylene $1.18/gallon $0.29/gallon 40.70/1 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-0124382 CONFIDENTIAL SDNY_GM_00270586 EFTA01462035