Eastman Chemical Company Announces Early Tender Results for 3.800% Notes Due 2025

Eastman Chemical Company (the “Company” or “Eastman”) (NYSE: EMN) today announced the early tender results for the previously announced cash tender offer (the “Tender Offer”) to purchase up to an aggregate principal amount of $250,000,000 (the “Tender Cap”) of the Company’s outstanding 3.800% Notes due 2025 (the “Notes”).

The following table sets forth some of the terms of the Tender Offer:

Title of Security	CUSIP / ISIN Number	Principal Amount Outstanding	Tender Cap (Principal Amount)	U.S. Reference Treasury Security	Fixed Spread	Principal Amount Tendered at Early Tender Deadline	Principal Amount Accepted	Proration Factor(1)
3.800% Notes due 2025	277432AR1 / US277432AR19	$ 699,992,000	$ 250,000,000	1.750% UST due 03/15/2025	22.5 bps	$ 276,887,000	$ 250,000,000	90.28%
(1) Rounded to nearest hundredth of a percentage point.

The Tender Offer commenced on July 29, 2024, and will expire at 5:00 p.m., New York City time, on August 26, 2024, unless extended or earlier terminated by the Company (the “Expiration Date”). The terms and conditions of the Tender Offer are described in the Offer to Purchase, dated July 29, 2024 (the “Offer to Purchase”).

As of 5:00 p.m., New York City time, on August 9, 2024 (the “Early Tender Deadline”), according to information provided by D.F. King & Co., Inc., the tender agent and information agent for the Tender Offer (the “Tender and Information Agent”), $276,887,000 aggregate principal amount of the Notes had been validly tendered and not validly withdrawn in the Tender Offer. Withdrawal rights for the Notes expired at 5:00 p.m., New York City time, on August 9, 2024.