1. Dow AgroSciences: Delivering Beyond the Expected Jerome Peribere President and CEOFebruary 10, 2009 Goldman Sachs Agriculture Conference Trademark of The Dow Chemical Company

2. Dow AgroSciences Delivering Beyond Expectations in Four Key Areas Consistent Financial Market AccessPerformance CreativityFranchise Expansion Technology Delivery Goldman Sachs Agriculture Conference2 J. Peribere Feb. 10, 2009 Trademark of The Dow Chemical Company 3. 2008 Results Deliver Growth Beyond Expectations2001-200820082001 -2007 Actual CAGRPerformance1Actual CAGR Volume and Price20% 6% 8% Sales New Product Success Market Share Growth R&D investment15%3%1% New Product Ramp-up SARD2 Geographic expansion 23%36%25% Record EBIT in 2008 Capitalized on strong EBIT3 agricultural market1Percentage growth from prior year Research & Development, and Selling, General and Administrative expenses 2 Non-GAAP financial measure. Excludes certain items. See www.dow.com for additional information 3 Goldman Sachs Agriculture Conference 3 J. Peribere Feb. 10, 2009Trademark of The Dow Chemical Company 4. Dow AgroSciences Delivering Beyond Expectations in Four Key Areas Consistent Financial Market AccessPerformance CreativityFranchise Expansion Technology Delivery Goldman Sachs Agriculture Conference4 J. Peribere Feb. 10, 2009 Trademark of The Dow Chemical Company 5. Pyroxsulam Extends Cereal Herbicide Franchise Market Share Growth Expected in Key GeographiesKey Brands EnableSegmentation Launched in 5 countries, 45 to go Maturity sales now expected to be >$200MMWesternIn 2013 withIn 2013 withCanadaEurope TodayToday PyroxsulamPyroxsulamBroadleafBroadleafTECH40% 40%Weeds33%33%WeedsGrassesGrasses 9% 2%and cross 17% 1%and crossspectrumspectrumAll18%15%All 21%12%SegmentsSegmentsEasternIn 2013 withIn 2013 with In 2013 withU.S.Australia TodayEuropeToday TodayPyroxsulamPyroxsulam PyroxsulamBroadleafBroadleafBroadleaf24% 24% 6% 22% 6%22%WeedsWeedsWeedsGrassesGrassesGrasses 0% 21%and cross 0% 2%26%and crossand cross10%spectrumspectrum spectrumAll 18% 9%AllAll 2%14% 5% 22%SegmentsSegments SegmentsGoldman Sachs Agriculture Conference 5J. Peribere Feb. 10, 2009Trademark of The Dow Chemical Company 6. Successful Positioning and Segmentation of Aminopyralid Builds Franchise Switching to patent-protected products Have developed over 35 new productconcepts/formulations expected onmarket by 2012New mixtures with proprietary chemistry Expanding market with proprietarychemistries to address more weedspeciesNovel Formulations and Delivery Systems Net Sales Growth from 2004-2012E60%80% Brazil U.S. Range & Pasture Segment ShareTotal Range & Pasture PortfolioGoldman Sachs Agriculture Conference 6 J. Peribere Feb. 10, 2009 Trademark of Dow AgroSciences LLC Trademark of The Dow Chemical Company 7. Dow AgroSciences Delivering Beyond Expectations in Four Key Areas Consistent Financial Market AccessPerformance CreativityFranchise Expansion Technology Delivery Goldman Sachs Agriculture Conference7 J. Peribere Feb. 10, 2009 Trademark of The Dow Chemical Company 8. Creative Go to Market Translates Technology Strength to Market27 new hybrids in Mycogen Seeds line up ProprietaryBuild market presence via bolt-on M&A Brand2008: Triumph Seed, Dairyland Seed, Renze Seeds, Brodbeck SeedsStrength(U.S.) Sdwestsaat GbR (Germany) Dow AgroSciences, Mertec LLC, M.S. Technologies LLC Collaborate toBring New Soybean Technologies to U.S. Soybean Growers StrategicDow AgroSciences Submits SmartStax for Regulatory ReviewPartnershipsSyngenta, Dow AgroSciences Jointly to Develop Dow Compounds foruse in Syngenta Seed Care HERCULEX Insect Protection leading insect resistance trait widely licensed Dow Herbicide Tolerance (DHT) technology to become an industryLicensingstandard EXZACT Precision Technology commercial license allows wide technology reach Trademark of Dow AgroSciences LLC Goldman Sachs Agriculture ConferenceSmartStax and the SmartStax logo are 8 J. Peribere Feb. 10, 2009 trademarks of Monsanto Technology LLC Trademark of The Dow Chemical Company 9. SmartStax Technology Creates New Standard Dual Effective Dose Drives ValueSmartStax to Dominate Introgression Process Moving Dow AgroSciences Corn Portfolio Robust trait introgression workunderway to accelerate launch andramp-up World class Dow AgroSciences traitconversion process using continualnurseries, molecular markerprocesses technologies and parallelintrogression to accelerate highquality conversions % of Dow AgroSciences grain corn portfolio containing SmartStaxRegulatory Regulatory Milestones Being Met submissions Q4 - Brazil Regulatory RegulatoryU.S. launch Field trials insubmissions Argentina, Brazil >750,000 yieldBrazil,Q2 - Argentina launches plots supportingArgentina launch 2008200920102011 2012Trademark of Dow AgroSciences LLC Goldman Sachs Agriculture ConferenceSmartStax and the SmartStax logo are 9 J. Peribere Feb. 10, 2009 trademarks of Monsanto Technology LLC Trademark of The Dow Chemical Company 10. Dual Effective Dose Improves Yield through Better Plant Protection Better on Western Better on Fall ArmywormBean Cutworm Key Pest in Brazil Emerging PestSmartStaxSmartStax Multi-year Performance of SmartStax inWestern Bean Cutworm Field Trials (2007-08) 2008 Comparison of Bt Technologies for whorl stageprotection from Fall ArmywormBetter on Corn Rootworm Opportunity for 5-10% Higher Yield Driving Pest in U.S. Corn Belt3-5% from lowerSmartStaxrefuge 2-5% from consistent insect control2007-2008 WCRW Multi-Year SummaryNode Injury Rating Analyzed Across 12 LocationsTrademark of Dow AgroSciences LLC Goldman Sachs Agriculture ConferenceSmartStax and the SmartStax logo are 10J. Peribere Feb. 10, 2009 trademarks of Monsanto Technology LLC Trademark of The Dow Chemical Company 11. Dow AgroSciences Delivering Beyond Expectations in Four Key AreasConsistent Financial Market Access Performance CreativityFranchise ExpansionTechnology DeliveryGoldman Sachs Agriculture Conference11 J. Peribere Feb. 10, 2009 Trademark of The Dow Chemical Company 12. Dow Herbicide Tolerance (DHT) a Solution Sought by Growers Key Customer Benefits of DHT DHT Enables Herbicide Solution toTraits Improve Performance of Glyphosate Additional modes of action in glyphosate-tolerant crops Superior broadleaf weedLabel rate of glyphosate 89 control vs. glyphosate alone Increased application windowDHT Herbicide98 and flexibility of 2,4-D, a trusted and economical herbicide Mean % control of 11 Key Broadleaf weeds of corn & soybeans (18 trials, 2008) Launch Plans Moving ForwardLead eventsLaunch infor DHT corn Launchsoybeansand soybeans in corn Regulatoryidentified time frames on track Launch in cotton200920102011 20122013 2015Goldman Sachs Agriculture Conference 12 J. Peribere Feb. 10, 2009 Trademark of The Dow Chemical Company 13. EXZACT Precision Technology Rapidly Opening Doors Technology DeploymentTechnology Enhancement OngoingAccelerate Co-DevelopSponsored InternalStacking inTraits, NewAcademic ResearchEarly-Stage Trait Research Program DiscoveryOpportunitiesNovelContinuing Gene/TraitSangamo Discovery ResearchAccelerate DevelopmentContinuous ImprovementExpand Range of TraitsPush Technical Limits Open Door for Novel TraitsNovel Applications Trademark of Dow AgroSciences LLC Goldman Sachs Agriculture Conference13 J. Peribere Feb. 10, 2009 Trademark of The Dow Chemical Company 14. Precise Placement to Deliver Commercially Viable Traits Precise insertion of a herbicide tolerance gene into a native maize geneleads to a potential stacked trait that could reduce phytate outputPrecise insertion of a herbicide tolerance gene at a second native maize gene identifies a potential safe harbor locus Goldman Sachs Agriculture Conference 14J. Peribere Feb. 10, 2009Trademark of The Dow Chemical Company 15. Continuing To Deliver Beyond Expectations Expect consistent performance Expect franchise growth Expect creative approachesto build market channel Expect technology expansion Goldman Sachs Agriculture Conference 15 J. Peribere Feb. 10, 2009Trademark of The Dow Chemical Company 16. SEC Disclosure Rules Some of our comments today include statements about ourexpectations for the future. Those expectations involverisks and uncertainties. Dow cannot guarantee theaccuracy of any forecasts or estimates, and we do not planto update any forward-looking statements if ourexpectations change. If you would like more informationon the risks involved in forward-looking statements, pleasesee our annual report and our SEC filings. In addition, some of our comments reference non-GAAPfinancial measures. Where available, a reconciliation to themost directly comparable GAAP financial measures andother associated disclosures are provided on the internet atwww.dow.com in the Financial Reports page of the InvestorRelations section. Goldman Sachs Agriculture Conference16 J. Peribere Feb. 10, 2009 Trademark of The Dow Chemical Company