EFTA Document EFTA01447965

29 July 2014 Chemicals / Specialty Eastman Chemical (Figure 14: Eastman Quarterly Segment Income Statement 2013-2014E ($ in millions, except per-share data) 2013 2014E 01 02 C13 04 YEAR 01A 02A Ca 04 YE Ail MS Additives & Ftinctional Products 413 430 445 425 1.719 423 452 465 440 1.790 % Change 5% 2% 10% 11% 7% 1% 6 r 4% 4% 4% Adhesives & Plesticiters 345 339 321 321 1.326 346 358 336 337 1.375 % Change 63%1 (9%) (8%1 15%1 (7%1 0% 8% 4% 5% 4% Advanced Kititenals 584 625 583 557 2.349 581 631 590 568 2.370 % Change 3% 4% 4% 5% 4% (1%) 1% 1% 2% 1% Etats 346 363 383 389 1,441 354 386 380 380 1,500 % Change 7% 14% 4% 14% 10% 2% 8% 5% 3% 4% Speclaty Flukes & Intermediates 607 677 620 593 2,497 001 633 650 621 2.505 % Change 15%) 4% 5% 7% 1% (1%) (5%) 5% 5% 0% Total Segment Sales 2.301 2.434 2.332 2,266 9,332 2.304 2.460 2.420 2.348 9,630 Other 6 8 8 0 18 1 0 1 I 3 Solos 2.307 2,440 2.338 2,265 8350 2.305 2,480 2..421 2,347 9.533 % Change poevatino Prat Additives & Functioned Products (I%) 96 3% 105 3% III 4% 92 3% 406 (0%) 94 1% 103 4% 110 4% 108 2% 415 Operating Miorpon 234% 24.4% 24.9% 21.6% 23.6% 22.2% 22.8% 23.7% 24.6% 233% % Change 4% 0% 8% 3% 3% (4%1 (2%) 1114 17% 2% Adhesives & Plasticizers 49 50 41 33 173 47 68 45 37 185 Operating &Lupin 74.2% 74.7% 122% tan 13.0% 13.6% 156% 13.4% 71.0% ma% % Change 128%1 (31%1 144%) (37%) 134%1 (4%) 12% 10% 12% 7% Advanced Wend& 65 81 89 46 280 71 80 80 64 295 Operating Margin 71.7% 130% 17.8% 8.1% 11.1% 12.2% 127% 135% 17.3% 12.4% % Change 7% 29% 21% 55% 24% 9% (1%) 16% 42% 13% Fibers 114 110 113 119 482 117 123 115 125 480 Opera6611 MSMI4 32.9% 32.0% 31.1% 32.2% 32.7% 33.7% 37.9% 30.3% 32.9% 32.0% % Change 73% 21% 15% 28% 79% 3% 5% 2% 5% 4% Specialty Fluids &Intemxicretett 96 118 90 61 304 84 96 85 65 310 operating Margin 127% 77.4% 14.5% 10.3% 14,6% 10.6% 15.2% 13.1% 70.5% 12.4% % Change 30% 22% (6%1 (34%) 1% (33%) ( 79%) (5%) 7% (15%1 Segment Operating Profit 421 470 424 350 1,885 393 458 435 399 1,885 % Change 7% 9% 11%1 (2%) 3% (7%) (3%1 3% 14% 1% Over (18) (16) 091 (21) (74) (10) 07) (14) 114) (55) Operating Profit 403 454 406 329 1.591 383 441 421 385 1.830 OM:71Po httrgin 17.5% 182% 17.3% 14.5% 17.0% 148% 17.9% 17.4% 124% 77.1% % Chair 71% 13% 2% 1% 7% (5%) (3%1 4% 77% 2% Pro Forma/Actual E 81717A Additives &Functional Products 601 613 EMMA Mirgin 29.1% 288% % Change 2% 2% Adliesives & Plesticieen 218 290 58(704 Margin 184% 18.7% % Change 129%1 6% Advanced Miterbits 404 443 E8ITCM Abiptri 17.2% 187% % Change 16% 10% Fibers 627 546 E8t7IM Nippon 366% 343% % Change 15% 3% Specialty Fluids &Intermediate, 444 395 EBIT0.4 Margin 129% 152% % Change 1% (71%) Segment EBITOA 2.094 2.12e % Change 3% 2% Other (70) (Sit EBITDA 2.024 2,075 68110A Morgin 21.5% 21.8% % Change 5% 3% Interest Expense (471 1461 1441 (43) (180) 742) (457 (47) 1471 (181) 96 Change 747% 742% (8%) 00%1 34% (11%1 12%1 7% 9% 1% Other Income (Expense) (11 0 (1) (7) (3) 3 8 0 0 11 Pretax Income 356 408 380 255 1.408 344 404 374 338 1.450 Pretax hbegin 15.4% 18.7% 15.4% 12.6% 151% 14.9% 18.4% 15.4% 14.4% 75.3% Change 38% 36% 2% 0% 78% (3%) (1%1 4% 79% 4% Taxes 11011 (1241 (967 (72) 13931 (96) 0121 (105) 1961 (407) Tax Rate 28.5% 30.4% 28.7% 26.9% 272% 27.9% 27.7% 280% 28.0% 27.9% Not Income Attribuiablo to Noncontrolling Interests ill (2) (11 13) 17/ (1) 121 11/ 131 (7) Net Income 253 282 283 210 1,008 247 290 268 240 1,048 Sotto. Deasche can eansson. Em men Deutsche Bank Securities Inc Page 11 CONFIDENTIAL — PURSUANT TO FED. R. CRIM. P. 6(e) CONFIDENTIAL DB-SDNY-0102762 SDNY_GM_00248946 EFTA01447965