EFTA Document EFTA01461980

29 July 2014 Chemicals / Specialty Eastman Chemical Income from $0 discount. Ops Reported net Inc. 1292 $204 Earnings per share (EPS) Cash flow hell $122 $1.80 7% FY' 74 Guidance: a. 70 - $7.00 75 Guidance: $7.50 - $600 02'14 Cash: $175MM. CFO: +$419MM. Caney: $132MM, Acquisition: $283MM, FCF: $234MM, Dividends: $53MM, Repurchase: $1OOMM. Clack FY'74 apex: $575MM, FCF: $6OOA4M. 504set DOOM* telt Figure 2: US Propane to Propylene spread fa/lb n poised to tall in O3.14 vs O2'14 due to modestly higher propane prices 45 - 40 - 35 - 30 - 25 - 20 - 15 - 10 5 0 MI 4 1 1 1 1 1 1 1 1 1 1 1 1 1 1 4 1 1 3 4§0 8 g§1 8 1§I.PR§I§I§I§P 11 °C-.- 71.- 2 " : " : n r:;WW 50005 a 5 a a a a aaa o 835RacsgaSaaaga Sow* Optioche Bent Eastmet a.5Cnenud J Deutsche Bank Securities Inc Page 3 CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0124310 CONFIDENTIAL SDNY_GM_00270494 EFTA01461980