Ashland appoints two new directors, forms Capital Allocation Advisory Committee in deal with Ancora

ASHLAND INC.

Peter Thomas (ex-Ferro CEO) and Allen Spizzo (ex-Hercules CFO) appointed as independent directors, effective immediately.
Board temporarily expands to 11 members, will reduce to 10 at 2027 annual meeting.
New Capital Allocation Advisory Committee formed, chaired by Scott Tozier, with five voting members including the new directors.
Cooperation agreement with Ancora includes standstill, voting commitments, and mutual non-disparagement until 30 days before 2028 annual meeting notice deadline.
If a new director leaves, Ancora can nominate a replacement if it still holds at least 1.5% of Ashland stock.

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