ࡱ>  l \pThe Free Software Foundation B=PF0*8X@"1 Helvetica1Courier1 Courier New1 Courier New1 Helvetica$#,##0_);($#,##0)$#,##0_);[Red]($#,##0)$#,##0.00_);($#,##0.00)$#,##0.00_);[Red]($#,##0.00)-**_($* #,##0_);_($* (#,##0);_($* "-"_);_(@_)*)'_(* #,##0_);_(* (#,##0);_(* "-"_);_(@_)5,2_($* #,##0.00_);_($* (#,##0.00);_($* "-"??_);_(@_)2+/_(* #,##0.00_);_(* (#,##0.00);_(* "-"??_);_(@_)2$#,##0.00;[Red]$#,##0.003$#,##0.00;[Red]($#,##0.00)4$#,##0;[Red]($#,##00)50.00%;[Red](0.00%)6 0%;[Red](0%)7#,##0.00;[Red](#,##0.00)8#,##0;[Red](#,##0)                + ) , *   Ј ~~ ؈ ~~#؈ ~~"؈ ~~ ؈ ~~8#܈ ~~<#܈ ~~7#܈ ~~4"܈ ~~8"܈ ~~<"܈ ~~4#܈ ~~3#܈ ~~83ffff̙̙3f3fff3f3f33333f33&#OF THE SECURITIES EXCHANGE ACT ` NA&-Dear Ashland Global Holdings In ;To our StockholdersLTTo our Stockhol (1)fTo our Stockhol (2)qsSummary Compensation!+Annual Meeting Information.Voting MattersQDirector Nominees&QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipqCommon Stock Ownership47DIRECTOR NOMINE (1)UDIRECTOR NOMINE (2)ssDIRECTOR NOMINE (3)όDIRECTOR NOMINE (4)DIRECTOR NOMINE (5)"Director Compensation Table!sDirector Compensation (1)&COMMITTEES AND MEETINGS OF THE <Summary Compens (1)&H*Fiscal Year 2017 Ashland Perfor&@Compensation Philosophy and Exe$WPrimary Compensation ElementspCompensation Peer Group9 Base Salary&Annual and LongTerm Incentive M.Annual and LongTerm (1)& Fiscal Year 2017 Annual Incenti#Fiscal Year 2017 Annual (1) thousands#Fiscal Year 2017 Annual (2)&EChanges to the fiscal 20152017 &!&Fiscal Year 20172019 LTIPP Desi 07Fiscal Year 20172019 (1)&EExecutive Performance Incentive&LVFiscal Year 20152017 LTIPP Perf iFiscal Year 20152017 (1)&T}Fiscal Year 20162018 LTIPP Perf ۑFiscal Year 20162018 (1)&`EPIRP Performance Results and P&Fiscal Year 2017 Annual Equity &Compensation Committee Practice"Compensation Committee (1)$Compensation Committee Reportu'Summary Compens (2)!oSummary Compensation TableStock Option Grants COutstanding Equity Awards_nLTIPP and EPIRP&Option Exercises and Stock VestPPension Benefits Assumptions& NonQualified Deferred Compensat&Potential Payments upon Termina#Q5Potential Payments upon (1)&SARsStock Options Incentive Com&PROPOSAL TWO RATIFICATION OF IN BURN RATE:Potential Dilution&Equity Compensation Plan InformNonGAAP Reconciliations&Z(Adjusted EBITDA Specialty Ingre=EBITDA Composites&MAdjusted EBITDA Intermediates a&`RECONCILIATION OF OTHER NONGAAP#qRECONCILIATION OF OTHER (1)#RECONCILIATION OF OTHER (2)&This proxy is solicited on beha& If you do not provide voting in l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??FNA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } $} $ }  @      #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017?7OF THE SECURITIES EXCHANGE ACT OF 1934 (AMENDMENT NO. ) ? # Preliminary Proxy Statement ? / 'Confidential, for Use of the Commission  / 'Only (as Permitted by Rule 14a-6(E)(2)) ? " Definitive Proxy Statement ? ' Definitive Additional Materials ?=5Soliciting Material Pursuant to Section 240.14a-11(c)or Section 240.14a-12$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.!aUI=Be, =PF0*8X> @ l  @-  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT !Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } 1      #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017 N/A$ Ashland Global Holdings Inc. 50 E. RiverCenter Blvd. Covington, KY 41011  December 6, 2017$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*Rh}qe==PF0*8X> @ l  :  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NATo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } 1      #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/20176.Dear Ashland Global Holdings Inc. Stockholder:  Sincerely,    William A. Wulfsohn,$Chairman and Chief Executive Officer$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,|j^RF:$ q=PF0*8X> @ l  3NS  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } a} $ } : 3     #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017To our Stockholders:   Where: 7 /Metropolitan Club, 50 E. RiverCenter Boulevard,   Covington, KY 41011   Items of Business: 6 .(1) To elect 11 directors: Brendan M. Cummins,3+William G. Dempsey, Jay V. Ihlenfeld, Susan4,L. Main, Jerome A. Peribere, Barry W. Perry,0(Mark C. Rohr, Janice J. Teal, Michael J.2*Ward, Kathleen Wilson-Thompson and William0(A. Wulfsohn to the Board of Directors to.&serve until the next annual meeting of/'stockholders and until their successors'are duly elected and qualified;0((2) To ratify the appointment of Ernst &2*Young LLP as independent registered public$accountants for fiscal 2018;/'(3) To vote upon a non-binding advisory-%resolution approving the compensation3+paid to Ashland?s named executive officers,7/as disclosed pursuant to Item 402 of Regulation2*S-K, including the Compensation DiscussionDS lxl`<$|y-IW f !"#$%&'()*+,-./012  - %and Analysis, compensation tables and!!!narrative discussion;""##2#*(4) To approve the Ashland Global Holdings$$0$(Inc. 2018 Omnibus Incentive Compensation%%% Plan; and&&''3'+(5) To consider any other business properly((*("brought before the Annual Meeting.))* Who Can Vote:*0*(Only stockholders of record at the close++4+,of business on December 4, 2017 are entitled,,8,0to vote at the Annual Meeting or any adjournment---of that meeting../$0____________________________11)Created by Morningstar Document Research.02(http://documentresearch.morningstar.com/*|h~f81i=PF0*8X> @221100 l  e  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } $ } U5      #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017To our Stockholders:  , $You can vote in one of several ways:    3 +Visit the website listed on your proxy card  3 +or Notice of Internet Availability of Proxy  * "Materials to vote VIA THE INTERNET.&Call the telephone number specified on0(your proxy card or the website listed on/'your Notice of Internet Availability of,$Proxy Materials to vote BY TELEPHONE2*If you received paper copies of your proxy4,materials in the mail, sign, date and return0(your proxy card in the enclosed envelopeto vote BY MAIL,$Attend the meeting to vote IN PERSON$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/>0xl`<>b1jF:.=PF0*8X> @ l  s  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } 1      #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017To our Stockholders:+ #By Order of the Board of Directors,   PETER J. GANZ. &Senior Vice President, General Counsel  and Secretary$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*phxl`T%u=PF0*8X> @ l  Sys  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Annual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } I;} $ } } $ S     #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017Summary Compensation   Page   PROXY SUMMARY   (i) . &QUESTIONS AND ANSWERS ABOUT THE ANNUAL  ~   MEETING1 )ASHLAND COMMON STOCK OWNERSHIP OF CERTAIN  ~  BENEFICIAL OWNERS3+ASHLAND COMMON STOCK OWNERSHIP OF DIRECTORS~ )!AND EXECUTIVE OFFICERS OF ASHLAND,$PROPOSAL ONE - ELECTION OF DIRECTORS~ "Board of Directors~ "Director Nominees~ *!Compensation of Directors~ N#Director Compensation Table~ NAnnual Retainer~ VRestricted Shares/Units~ V0(Stock Ownership Guidelines for Directors~ ZOther Compensation~ ZCorporate Governance~ ^Governance Principles~ ^"Board Leadership Structure~ ^5-Oversight of Ashland?s Executive Compensation~ bProgram-%Compensation Committee Interlocks and~ fDT lxl`$@-@abZ e  !"#$%&'()*+,-./0123456789:;<=>? Insider Participation&!Board?s Role of Risk Oversight!!~ !f!7"/Director Independence and Certain Relationships""~ "f")#!Related Person Transaction Policy##~ #j#4$,Section 16(a) Beneficial Ownership Reporting$$~ $n$% Compliance$&Communication with Directors&&~ &n&$'Attendance at Annual Meeting''~ 'r''(Executive Sessions of Directors((~ (r(1))Stockholder Recommendations for Directors))~ )r),*$Stockholder Nominations of Directors**~ *r*/+'Committees and Meetings of the Board of++~ +~+, Directors-EXECUTIVE COMPENSATION--~ --,.$Compensation Discussion and Analysis..~ ..%/Compensation Committee Report//~ //"0Summary Compensation Table00~ 00#1Grants of Plan-Based Awards11~ 1142,Outstanding Equity Awards at Fiscal Year-End22~ 22)3!Option Exercises and Stock Vested33~ 334Pension Benefits44~ 44+5#Non-Qualified Deferred Compensation55~ 5"5.6&Potential Payments upon Termination or66~ 6*67Change in Control Table8AUDIT COMMITTEE REPORT88~ 8J829*PROPOSAL TWO - RATIFICATION OF INDEPENDENT99~ 9R9%:REGISTERED PUBLIC ACCOUNTANTS-;%PROPOSAL THREE - NON-BINDING ADVISORY;;~ ;V;-<%RESOLUTION APPROVING THE COMPENSATION2=*PAID TO ASHLAND?S NAMED EXECUTIVE OFFICERS2>*PROPOSAL FOUR - APPROVAL OF ASHLAND GLOBAL>>~ >Z>9?1HOLDINGS INC. 2018 OMNIBUS INCENTIVE COMPENSATIOND lM7&]-z!X E"f=s@ABCDEFGHIJKLMNOPQR @PLANA MISCELLANEOUSAA~ AA BProxy Solicitation CostsBB~ BB1C)Stockholder Proposals for the 2019 AnnualCC~ CCDMeetingE Other MattersEE~ EE0F(APPENDIX A: Ashland Global Holdings Inc.FF FA-1F+G#2018 Omnibus Incentive Compensation HPlan0I(APPENDIX B: Use of Non-GAAP Measures andII IB-1I JNon-GAAP Reconciliations KUse of Non-GAAP MeasuresKK KB-1K0L(Business Unit EBITDA and Adjusted EBITDALL LB-2L MNon-GAAP ReconciliationsMM MB-2MNO$P____________________________1Q)Created by Morningstar Document Research.0R(http://documentresearch.morningstar.com/*hO#}YD8,=PF0*8X> @"RRQQPP  l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } <} $ } 8      #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017"Annual Meeting Information  Date & Time: 5 -January 25, 2018 10:30 a.m. (Eastern Daylight    Saving Time)    Address:  Metropolitan Club  / '50 E. RiverCenter Boulevard, Covington,KY 41011 Record Date:December 4, 2017Voting:7/Stockholders as of the Record Date are entitledto vote.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/6~rfZ6HmI=PF0*8X> @ l  !^  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } y<} $ }  !     #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017Voting Matters   Board?s   Recommendations   5 - Proposal One . The election of 11 director ! FOR each Director Nominee: 2nominees that possess the necessary qualifications7/to provide guidance to the Company?s management(page 8)80 Proposal Two. Ratification of the appointment FOR6.of Ernst & Young LLP as independent registered0(public accountants for fiscal 2018 (page~ R3+ Proposal Three. A non-binding advisory FOR-%resolution approving the compensation2*paid to Ashland?s named executive officers (page 85)7/ Proposal Four. To approve the Ashland Global FOR91Holdings Inc. 2018 Omnibus Incentive CompensationPlan (page 86)( ____________________________1)Created by Morningstar Document Research.Dl~rfBVf,[%qW 0 (http://documentresearch.morningstar.com/H=PF0*8X> @  l  2f%  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting Matters!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } } $ } $} $ }  }  $ } :} $ } $} $ } } $ 2     #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017Director Nominees       Name  Age   Director   Primary Occupation   Independent    Committee        Since          Memberships  Brendan M. Cummins  ~     ~ r  / 'Former Consultant to The Valence Group;  ?     AC;           . &Former Chief Executive Officer of Ciba                   Specialty Chemicals        G&N (Chair)    William G. Dempsey~  ~  1 )Former Executive Vice President of Global   ? AC; EHS&Q; G&N . &Pharmaceuticals at Abbott Laboratories   Jay V. Ihlenfeld~  ~  2 *Former Senior Vice President of 3M Company   ?  Comp; EHS&Q     Susan L. Main~ ~  1 )Senior Vice President and Chief Financial   ? AC; G&N 5 -Officer of Teledyne Technologies Incorporated   Jerome A. Peribere~  N/A - %President and Chief Executive Officer   ?  N/A ! of Sealed Air Corporation   Barry W. Perry~ ~ ^ 3 +Former Chairman and Chief Executive Officer   ? Lead Independent   of Engelhard Corporation   Director; Comp      (Chair); G&N      Mark C. Rohr~  ~ b / 'Chairman and Chief Executive Officer of   ?  AC; EHS&QDl{oc2wPY !"#$%&'()*+,-./01           Celanese Corporation!!!!!!!!!! ! " Janice J. Teal""~ """"~ "r"" 8" 0Former Group Vice President and Chief Scientific"  " ?" """"EHS&Q (Chair);"########## &# Officer for Avon Products Inc.# # # ### #Comp#$$$$$$$$$$ $ % Michael J. Ward%%~ %%%%~ %F%% /% 'Retired Chairman of the Board and Chief%  % ?% %%%% G&N; Comp%&&&&&&&&&& ,& $Executive Officer of CSX Corporation'''''''''' ' !( Kathleen Wilson-Thompson((~ ((((~ ((( 1( )Executive Vice President and Global Chief(  ( ?( (((( EHS&Q; Comp()))))))))) 2) *Human Resources Officer of Walgreens Boots********** *  Alliance Inc.++++++++++ + , William A. Wulfsohn,,~ ,,,,~ ,~,, 1, )Chairman of the Board and Chief Executive, , , ,,,,,---------- /- 'Officer of Ashland Global Holdings Inc........... . $/____________________________10)Created by Morningstar Document Research.01(http://documentresearch.morningstar.com/(w Th$SZZ=PF0*8X> @J 1100//      l  '+g  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector NomineesBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } U} $ } U} $ } 6 '     #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/20176.QUESTIONS AND ANSWERS ABOUT THE ANNUAL MEETING A: ~  5 -Election of 11 directors: Brendan M. Cummins,    3 +William G. Dempsey, Jay V. Ihlenfeld, Susan    4 ,L. Main, Jerome A. Peribere, Barry W. Perry,    0 (Mark C. Rohr, Janice J. Teal, Michael J.    2 *Ward, Kathleen Wilson-Thompson and William0(A. Wulfsohn to the Board of Directors to2*serve until the next annual meeting of the/'stockholders and until their successors'are duly elected and qualified;~ 0(Ratification of Ernst & Young LLP (?EY?)2*as Ashland?s independent registered public$accountants for fiscal 2018;~ 3+A non-binding advisory resolution approving0(the compensation paid to Ashland?s named1)executive officers, as disclosed pursuant0(to Item 402 of Regulation S-K, including1)the Compensation Discussion and Analysis,5-compensation tables and narrative discussion; and~ /'Approval of the Ashland Global HoldingsD lj^RF 6j:|X4Czm !"#$%&    0 (Inc. 2018 Omnibus Incentive Compensation!!!!'!Plan (the ?2018 Omnibus Plan?)."#$$____________________________1%)Created by Morningstar Document Research.0&(http://documentresearch.morningstar.com/xA5)=PF0*8X> @&&%%$$ l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THECommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } +} $ } y} U} $ }  } $                                #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017Beneficial Ownership, $Name and Address of Beneficial Owner  Aggregate Number of   Percentage of Common    Shares of Common  ! Stock Beneficially Owned*   Stock Beneficially   Owned BlackRock, Inc.  ~ fK~    !@ %55 East 52nd Street New York, New York 10022The Vanguard Group~ 3~ Q8 @ %100 Vanguard Blvd.#Malvern, Pennsylvania 19355&T. Rowe Price Associates, Inc.~ .I ~ (\@ %100 East Pratt Street!Baltimore, Maryland 21202$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/@ Dxl`U\P[>(=PF0*8X> @J        l  &E4w6  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } a/} $ }  } $ }  } $} $ }  &                                 #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017Common Stock Ownership   Name of Beneficial Owner   Aggregate    Percentage of       Number of    Common Stock    Shares of    Beneficially    Common Stock   Owned    Beneficially OwnedWilliam A. Wulfsohn~ f * ~  J. Kevin Willis~ M * ~   Peter J. Ganz~ vr * ~  Anne T. Schumann~ ~ * ~  J. William Heitman~ D * ~  Luis Fernandez-Moreno?~  * ~  Brendan M. Cummins~   * ~  William G. Dempsey~ * * ~  Jay V. Ihlenfeld~ n * ~   Susan L. Main~ n * ~  Jerome A. Peribere*~  *  Barry W. Perry~ g * ~   Mark C. Rohr~ t * ~  !George A. Schaefer, Jr.**~  * ~  Janice J. Teal~   * ~  Michael J. Ward~  * ~   Kathleen Wilson-Thompson~ n * ~  Dlvj^@-8 q7h8 j ! " # $ % / 'All directors and executive officers as  ~ +    = ףp=? % ~ !a group (18 people)"$#____________________________1$)Created by Morningstar Document Research.0%(http://documentresearch.morningstar.com/dJ+=PF0*8X> @j %% $$ ##           l  AsJT{U  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } 6} $ } : A     #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017DIRECTOR NOMINEES  WILLIAM G. DEMPSEY    Professional Experience:  4 ,Mr. Dempsey held various executive positions  0 (with Abbott Laboratories from 1982 untilPrincipal Occupation:1)2007, including, Executive Vice PresidentFormer Executive Vice3+of Global Pharmaceuticals from 2006, Senior5-President of Global Pharmaceuticals at Abbott3+Vice President of Pharmaceutical Operations Laboratories.&from 2003 and Senior Vice President of.&International Operations from 1999. HeDirector Since: 20160(has previously served as Chairman of theAge: 663+International Section of the Pharmaceutical-%Research and Manufacturers of America3+(PhRMA) and as Chairman of the Accelerating7/Access Initiative, a cooperative public-private.&partnership of UNAIDS, the World Bank,-%and six research-based pharmaceutical companies. Education:/'Mr. Dempsey holds a Bachelor of Science4,degree in accounting from DePaul University.D l{oc?;uYZ n%Z !"#$%&'()*+,-./0123456789:;<=>?   !!!Public Company Boards:""2"*Mr. Dempsey currently serves as a Director##.#&of Hill-Rom Holdings, Inc. since 2014,$$7$/where he is a member of the Audit Committee. In%%3%+the past five years, Mr. Dempsey has served&&1&)on the boards of Landauer, Inc., Hospira,'''Inc. and Nordion Inc.((()))Non-Profit Boards:**8*0Mr. Dempsey is a member of the Board of Trustees++6+.for the Guadalupe Center in Immokalee Florida.,,,-- -Director Qualifications:..4.,As former Executive Vice President of Global//8/0Pharmaceuticals at a public company, Mr. Dempsey00,0$brings significant experience within11/1'the pharmaceutical industry, as well as2262.knowledge in the areas of finance, accounting,33.3&international operations and corporate44.4&governance. He also brings significant5545,experience gained from service on the boards66"6of other public companies.777888Board Committees:999* Audit::3:+* Environmental, Health, Safety and Quality;;#;* Governance and Nominating<=$>____________________________1?)Created by Morningstar Document Research.D0 lT h42Ke~S@0@(http://documentresearch.morningstar.com/H=PF0*8X> @"@@??>>  l  >ir  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } I"} $ } : >     #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017DIRECTOR NOMINEES  JAY V. IHLENFELD      Professional Experience:  / 'Dr. Ihlenfeld served as the Senior Vice  0 (President, Asia Pacific, for 3M Company,Principal Occupation:2*a leader in technology and innovation from$Former Senior Vice President802006 until his retirement in 2012. Dr. Ihlenfeld of 3M Company-%has held various leadership positions0(during his 33-year career at 3M Company,Director Since: 20171)including Senior Vice President, ResearchAge: 66/'and Development from 2002 to 2006, Vice.&President of its Performance Materials-%business and Executive Vice President-%of its Sumitomo/3M business in Japan. Education:1)Dr. Ihlenfeld holds a Bachelor of Science2*degree in chemical engineering from Purdue6.University and a Ph.D. in chemical engineering)!from the University of Wisconsin.Public Company Boards:/'Dr. Ihlenfeld is a director of CelaneseD l{oc? v*WTo&9~ !"#$%&'()*+,-./0123456789:;<=  8 0Corporation, where he serves on the Compensation!!,!$and Management Development Committee""6".and is the chair of the Environmental, Health,##+##Safety and Public Policy Committee.$$$%%%Non-Profit Boards:&&4&,Dr. Ihlenfeld is a director of the Minnesota''' Orchestra.((()) )Director Qualifications:**5*-As a former Senior Vice President of a global++-+%science company, Dr. Ihlenfeld brings,,4,,significant management and chemical industry--5--experience to the Board, as well as knowledge..1.)in the areas of international operations,//./&leadership development and succession,00,0$environmental compliance and safety,1121*risk oversight and M&A evaluation. He also22,2$brings significant experience gained3313)from service on the board of directors of444another public company.555666Board Committees:777* Compensation8838+* Environmental, Health, Safety and Quality9:$;____________________________1<)Created by Morningstar Document Research.0=(http://documentresearch.morningstar.com/@ Ddq!BX y+[7uiA=PF0*8X> @==<<;; l  2džJ  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } 1} $ } > 2     #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017DIRECTOR NOMINEES  SUSAN L. MAIN      Professional Experience:  3 +Ms. Main is Senior Vice President and Chief  3 +Financial Officer of Teledyne Technologies,Principal Occupation:<4a leading provider of sophisticated instrumentation,1)Senior Vice President and Chief Financial.&digital imaging products and software, Officer of.&aerospace and defense electronics, and*"Teledyne Technologies Incorporated0(engineered systems, since November 2012.1)Prior to that, she was Vice President andDirector Since: 2017.&Controller of Teledyne, a position sheAge: 596.held for eight years. From 1999-2004, Ms. Main/'served as Vice President and Controller1)for Water Pik Technologies, Inc. She also3+held numerous financial roles at the former.&Allegheny Teledyne Incorporated in its-%government, industrial and commercial segments. Education:/'Ms. Main holds a bachelor?s degree from/'California State University, Fullerton.D l{oc? u&F75O< !"#$%&'()*+,-./01   !! !Director Qualifications:""8"0As the Senior Vice President and Chief Financial##4#,Officer of a public company, Ms. Main brings$$1$)significant management and public company%%-%%financial experience and knowledge to&&6&.the Board in the areas of finance, accounting,''0'(operations, risk oversight and corporate((( governance.)))***Board Committees:+++* Audit,,#,* Governance and Nominating-.$/____________________________10)Created by Morningstar Document Research.01(http://documentresearch.morningstar.com/(;TLfu@=PF0*8X> @1100// l  ;  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } } $ } > ;     #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017DIRECTOR NOMINEES  BARRY W. PERRY    Professional Experience:  8 0Mr. Perry served as Chairman and Chief Executive  - %Officer of Engelhard Corporation fromPrincipal Occupation:0(January 2001 to June 2006. Prior to that!Former Chairman and Chief6.position, he held various management positionsExecutive Officer of,$with Engelhard Corporation beginningEngelhard Corporation1)in 1993. From 1991 to 1993, Mr. Perry was0(a Group Vice President of Rhone-Poulenc.Director Since: 2007/'Prior to joining Rhone-Poulenc, he heldAge: 714,a number of executive positions with General!Lead Independent DirectorElectric Company. Education:4,Mr. Perry holds a Bachelor of Science degree3+in plastics engineering from the Universityof Massachusetts.Public Company Boards:<4Mr. Perry is the Lead Director of Arrow Electronics,1)Inc., where he serves on the Compensation.&Committee, and a director of AlbemarleD l{oc?#>rh d@s> !"#$%&'()*+,-./0123456789:  5 -Corporation, where he serves on the Executive!!-!%Compensation Committee and chairs the""1")Health, Safety and Environment Committee.##0#(Mr. Perry previously served on the Board$$*$"of Directors of Cookson Group PLC.%%%&& &Director Qualifications:''5'-As the former Chairman of the Board and Chief((/('Executive Officer of a leading chemical))-)%company, Mr. Perry brings significant**3*+management and chemical industry experience++2+*and knowledge to the Board in the areas of,,3,+finance, accounting, international business--5--operations, safety, environmental compliance,..0.(risk oversight and corporate governance.//-/%He also brings significant experience0050-gained from service on the board of directors11"1of other public companies.222333Board Committees:444* Compensation (Chair)55#5* Governance and Nominating67$8____________________________19)Created by Morningstar Document Research.0:(http://documentresearch.morningstar.com/:fc'BVpN=PF0*8X> @"::9988  l  :ּ0  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } $} $ }  @ :     #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017DIRECTOR NOMINEES  JANICE J. TEAL      Professional Experience:  3 +Dr. Teal served as the Group Vice President  6 .and Chief Scientific Officer for Avon ProductsPrincipal Occupation:3+Inc., a direct seller of beauty and relatedFormer Group Vice0(products, from January 1999 to May 2010.President and Chief/'Prior to that position, Dr. Teal servedScientific Officer for=5as Vice President of the Avon Skin Care Laboratories,Avon Products Inc.1)where she led the bioscience research andskin care teams.Director Since: 2012Age: 65 Education:6.Dr. Teal holds a doctorate degree and a Master.&of Science degree in Pharmacology from3+Emory University Medical School, a Pharmacy/'Degree from Mercer University and was a7/Post-Doctoral Fellow at the New York University1)Medical Center Institute of Environmental Medicine.Public Company Boards:0(From 2003 until 2011, Dr. Teal served onD l{oc? t"a5B^ m !"#$%&'()*+,-./0123456789  1 )the Board of Directors of Arch Chemicals,!!5!-Inc., where she served on the Audit Committee""/"'and the Corporate Governance Committee.###$$$%% %Director Qualifications:&&0&(As former Group Vice President and Chief''0'(Scientific Officer of a leading personal((1()care company, Dr. Teal brings significant))-)%scientific and personal care industry**0*(experience and knowledge to the Board in++.+&the areas of research and development,,,-,%marketing, safety and risk oversight.--.-&She also brings significant experience..5.-gained from service on the board of directors//+/#of another public chemical company.000111Board Committees:2232+* Environmental, Health, Safety and Quality333(Chair)444* Compensation56$7____________________________18)Created by Morningstar Document Research.09(http://documentresearch.morningstar.com/8bGe @998877 l  )y  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } !} $ }  } $ }  }  $ }  } $ }  } $ )     #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017#Director Compensation Table      Name  Fees Earned or   Stock    All Other   Total    Paid in Cash (1)    Awards (2)   Compensation (3)  ~   ~   ~   ~  (a)  (b)   (c)   (d)   (e)  Brendan M. Cummins  ~    ~ ¶   ~    ~ p       William G. Dempsey~ ~ ¶  ~    ~ B      Jay V. Ihlenfeld*~ b'~ *   ~    ~      Stephen F. Kirk**~ z~   ~  w   ~ o      Susan L. Main***~ 6:~    ~    ~ RE      Vada O. Manager**~ C~   ~  w   ~       Barry W. Perry~ ~ ¶  ~    ~ BB      Mark C. Rohr~ ~ ¶  ~    ~ B      #George A. Schaefer, Jr.****~ S~ ¶  ~  "N  ~ W     Janice J. Teal~ ~ ¶  ~    ~  Dl}qeY A[-I}>r !"#$%&'(                 !Michael J. Ward!!~ !!!!~ !¶!! ! ~ ! ! ! !~ !B !"""""""""" " " " " """##Kathleen Wilson-Thompson***##~ #6:###~ # ## # ~ # # # #~ #RE #$%$&____________________________1')Created by Morningstar Document Research.0((http://documentresearch.morningstar.com/4Q~V=PF0*8X> @((''&&            l  '[  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation Table!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } } $ } } $ }  } $ '                                 #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017#Director Compensation Table Name   Shares of   Unvested    Restricted Ashland   Restricted Stock    Common Stock   Units of Ashland   (#)    Common Stock      ~  (#)Brendan M. Cummins~ ~  William G. Dempsey~ n~ Jay V. Ihlenfeld~ n~  Susan L. Main~ n~  Barry W. Perry~ n~  Mark C. Rohr~ n~ George A. Schaefer, Jr.~ n~ Janice J. Teal~ n~ Michael J. Ward~ n~ D l}qeY_ 0BVm/< ! " # $ % &           !Kathleen Wilson Thompson!!~ !n!!!~ ! !"#$$____________________________1%)Created by Morningstar Document Research.0&(http://documentresearch.morningstar.com/)x =PF0*8X> @j &&%%$$          l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } !} $ } !} $ } } $ } !      #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/201791COMMITTEES AND MEETINGS OF THE BOARD OF DIRECTORS  Audit  Environmental, Health,  Governance and   Compensation   Safety and Quality   Nominating  Brendan M. Cummins  William G. Dempsey  Brendan M. Cummins*  Jay V. Ihlenfeld  William G. Dempsey  Jay V. Ihlenfeld  William G. Dempsey  Barry W. Perry *  Susan L. Main**   Mark C. Rohr  Susan L. Main**  George A. Schaefer, Jr.? Mark C. RohrJanice J. Teal *Barry W. PerryJanice J. Teal# George A. Schaefer, Jr. *?#Kathleen Wilson-Thompson***Michael J. WardMichael J. Ward#Kathleen Wilson-Thompson***$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/0g[OCe qA ]=PF0*8X> @ l  )  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE !Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } $} $ } U5      #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017Summary Compensation Name  Position William A. Wulfsohn 1 )Chairman of the Board and Chief Executive   Officer (?CEO?) J. Kevin Willis 1 )Senior Vice President and Chief Financial   Officer (?CFO?) Peter J. Ganz.&Senior Vice President, General Counsel and SecretaryAnne T. Schumann4,Senior Vice President, Chief Human Resourcesand IT OfficerJ. William Heitman,$Vice President, Ashland & ControllerLuis Fernandez-Moreno*/'Former Senior Vice President, Ashland &"President, Chemicals Group$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8xl`< ybv=PF0*8X> @ l  ?  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } } $ } U} $ } U} $                                #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017,$Fiscal Year 2017 Ashland Performance  (In millions) ~   ~   Sales         Specialty Ingredients ~  "  ~     Composites  ~ .    ~ v  " Intermediates and Solvents  ~ &   ~  Operating income (loss)Specialty Ingredients~  ~   Composites~ ~ "Intermediates and Solvents~ ~ .EBITDA?Specialty Ingredients~  :~  r Composites~ f~ V"Intermediates and Solvents~ N~ Adjusted EBITDA*?Specialty Ingredients~  ~  r"Intermediates and Solvents~ j~ ~$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/@ Dth\P'36OHQE9=PF0*8X> @j      l  &UW  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland PerforPrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } 6} $ } 6 &     #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017MECompensation Philosophy and Executive Compensation Program Objectives. &Align the interests of management with 4 ,To closely align the interests of management our stockholders / 'with the interests of our stockholders,  0 (a significant portion of the executive?s  2 *compensation is equity based and is linked  / 'to building long-term stockholder value0(through the achievement of the financial,$and strategic objectives of Ashland.4,Provide incentive compensation that promotes0(Incentive compensation should help drive,$desired behavior without encouraging3+business strategy. The compensation program&unnecessary and excessive risk1)should encourage both the desired results/'and the right behaviors. It should help4,drive business strategy and strike a balance5-between short-term and long-term performance,+#while incorporating risk-mitigating2*design features to ensure that unnecessary-%or excessive risk are not encouraged..&Attract, retain and motivate executive/'Compensation should be competitive with.&talent by providing competitive levels1)those organizations with which we compete( of salary and targeted total payfor top talent.1)Integrate with our performance management1)Target level goals should be aligned with5-process of goal setting and formal evaluation3+the annual operating plan and be considered.&stretching yet achievable, based on an0(annual assessment of business conditionsD lSG;/ :U Ik 80jx !"#$%  # for the performance period.!"$#____________________________1$)Created by Morningstar Document Research.0%(http://documentresearch.morningstar.com/`d=PF0*8X> @%%$$## l  'o  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExeCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } %} $ } -} $ } 2} $ } 2} $ } } $ } -                                 #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017%Primary Compensation Elements                 Base Salary  Annual Incentive  PUs  SARs  RSUs                Who Receives  All NEOsWhen Granted / ReceivedReviewed annually+#Annually for prior year performanceFirst quarter annually CashEquityForm of DeliveryType of PerformanceShort-term emphasisLong-term emphasisPerformance PeriodOngoing1 Year3 Years How Payout is Determined-%Compensation Committee judgment based2*Formulaic; Compensation Committee verifies2*Formulaic; Compensation Committee verifies)!Stock price on exercise/vest date-%on review of market and other factors!performance before payout!performance before payout'Most Recent Performance Measure N/A)!OI and WCE with a safety modifier2*Earnings per Share & relative TSR modifier Stock price appreciationWhat is Incentivized-%Balance against excessive risk taking.&Deliver on annual strategic objectives2*Deliver on long-term strategic objectives;Increase stock price - %Balance against excessive risk takingoutperform peers   and retention$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/B& X{ocWO!~ r=PF0*8X> @b           l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation Elements Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } 1} $ } 1      #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017Compensation Peer Group1 ) Considerations used to choose peer group - %How we use the peer group information  $  ? Comparable revenue size 1 )? Input in developing base salary ranges,  . &annual incentive targets and long-term  ? Global operations  incentive awards ? Chemical industry0(? Assess competitiveness of total direct compensation" ? Market capitalization,$? Determining form and mix of equity0(? Input to designing compensation plans, benefits and perquisites$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:ui]9F,vR=PF0*8X> @ l  *  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } U} $ } y} $ } y}  $ } U} U                        #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017 Base Salary     NEO  FY2016 Base Salary   FY2017 Base Salary   Increase   ~   ~    (%) William A. Wulfsohn  ~ F   ~ "H    @ % J. Kevin Willis  ~ "   ~ rq#    @ %  Peter J. Ganz  ~ z&    ~      @ %Anne T. Schumann~ E~    333333$@  %*J. 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An indicator of Ashland?s  0 ((?OI?) = net operating income under GAAP  ? Profitability  5 -adjusted for certain key items and management 7 /? Ability to optimize cash flow and stockholder exceptions* value6.Working Capital Efficiency (?WCE?) = (accounts0(? Focuses on three key cash flow drivers6.receivable + inventory?accounts payable)/sales,$(accounts receivable, inventory, and,$measured on a 13-month average basis0(accounts payable) and is measured as a %of sales5-? An important indicator of Ashland?s ability'to optimize cash flow and value2*Total Preventable Recordable Rate (?TPRR?)3+? Reflects the importance of safety matters1)= rate of injuries per 100 employees in awithin Ashland work year2*Earnings per Share (?EPS?) = GAAP earnings.&? An indicator of the profitability of-%(loss) from continuing operations perAshland-%share, adjusted for certain key itemsD lh\PDjwW7kkg:N !"#$%&  1 )Relative Total Shareholder Return (?TSR?) 6 .? Measures performance against our Performance!!/!'= calculated by measuring the change in!1!)Peer Group and stockholder value creation""0"(the market price of stock plus dividends##(# paid over the performance period$$____________________________1%)Created by Morningstar Document Research.0&(http://documentresearch.morningstar.com/xmQ)=PF0*8X> @&&%%$$ l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive M!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } } $ } U} $ } U}  $ } } $ } U} $ } U} $ } } $      #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017;3Annual and Long-Term Incentive Target Opportunities      NEO  FY2016   FY2017   Target   FY2016   FY2017    Target LTI    Target   Target   Annual    Target LTI    Target LTI   Increase   Annual   Annual    Incentive    (% of Base    (% of Base   (%)    Incentive    Incentive   Increase   Salary)   Salary)    (% of Base    (% of Base   (%)Salary)Salary)William A. Wulfsohn~ ~   ~    ~ B~ B~ J. Kevin Willis~ j~ j  ~    ~ ~ ~  Peter J. Ganz~ .~ .  ~    ~ Z~ Z~ Anne T. Schumann~ .~ .  ~    ~ j~ j~ J. William Heitman~ .~ .  ~    ~ j~ j~ Luis Fernandez-Moreno~ .~ .  ~    ~ Z~ Z~ $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/8 eYMA Gp(yQ=PF0*8X> @                      l     dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)Fiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } a} $ }  } $ }  }  $ } $} $                      #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/20175-Fiscal Year 2017 Annual Incentive Plan Design     Performance Levels  OI   WCE   Payout    ($, thousands)   (%)   Curve           (%)  Threshold  ~      ffffff9@   ~ R  Target  ~ >    Qk8@   ~  Maximum~ >(\7@  ~  Z $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,4|k_SG ^=PF0*8X> @R        l  b  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual Incenti  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } %} $ } m} $ } I"      #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/20175-Fiscal Year 2017 Annual Incentive Plan Design$ Safety Modifier Goals (TPRR) Target  Neutral   Unacceptable' 15% Improvement over Three-Year   No Adjustment $ 25% Increase over Three-Year  Rolling Avg.     Rolling Avg.  .54 or less   .55 - .79  .80 or greater$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*hk_SG XL@=PF0*8X> @"  l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)Fiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } } $ } $} $} $ }  } $} $ } } $} $ }  } $} $ }  } $      #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017 $, thousands      Metric   Weighting   Target   Adjusted    Payout (% of   Combined Weighted             Performance   Target)   Payout (% of Target) OI*  ~ j % ~  >  ~     fffffV@ %   fffffX@ % WCE  ~ * %   Qk8@ %   zGa6@ %  ~ Z %  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(|Tthlr}U=PF0*8X> @j         l  n  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousands!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } U} $ } y} $ }  }  $ } y} $                         #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/20170(Fiscal Year 2017 Annual Incentive Payout     NEO  Annual Incentive  # Percent of Annual Incentive   FY2017 Annual Incentive     Target Amount    Target Earned    Award Value  ~    (%)  ~  William A. Wulfsohn  ~ W    fffffX@   ~ S  J. Kevin Willis  ~     fffffX@   ~ Ҧ  Peter J. Ganz~ fffffX@  ~  * Anne T. Schumann~ 9fffffX@  ~  ry J. William Heitman~ fffffX@  ~   Luis Fernandez-Moreno *~ 6 fffffX@  ~    $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2 pdXLb6`c=PF0*8X> @b          l  %  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } } $ } $4} $ } =      #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017-%Changes to the fiscal 2015-2017 LTIPP Feature ! Original fiscal 2015-2017  Revised fiscal 2015-2017  Form of Award  100% PUs  100% PUs      Performance Measures 3 +Adjusted ROI as of Sept. 30, 2017 TSR as of 1 )Adjusted ROI as of March 31, 2017 (latest   September 30, 2017 / 'quarter end prior to Final Distribution;3of Valvoline); TSR as of May 12, 2017 (Distribution Date)Settlement of AwardShares0(After performance is measured, converted1)to RSUs*, which then convert to shares onthe Vesting Date Vesting DateNovember 13, 2017November 13, 2017$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:sg[OF fA#1%=PF0*8X> @ l  6  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 Fiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } 0} $ } U} $} $ } $} $                       #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017*"Fiscal Year 2017-2019 LTIPP Design Performance Level   EPS Achieved    Award Earned    (CAGR)   (as a % of Target)  Threshold   @ %  ~ f    ~  %  ~   Target  ~ * %  ~  ~ > %~ ZMaximum~ R %~ "$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.vj^Ri 2z=PF0*8X> @:     l   E  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP Desi!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } $4} $ }       #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017*"Fiscal Year 2017-2019 LTIPP Design3 + TSR Performance Relative to the S&P 500 " Adjustment to Earned Award$ At or Below 25 th Percentile  Decreased by 25%- %In between 25 th and 75 th Percentile   No Adjustment$ At or Above 75 th Percentile  Increased by 25% $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/(BTvj^R.u=PF0*8X> @ l  U  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } 0} $ } } $ } U      #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017NFExecutive Performance Incentive and Retention Program ( EPIRP ) Design Performance Level  TSR Performance  Percent of Award Earned  " 10/1/15-9/9/17 Relative to  and Converted to TVRS  " the S&P MidCap 400 and the   S&P 500 Materials Group Maximum  90 th Percentile  100%75 th Percentile 75%Target50 th Percentile 50%40 th Percentile 25% Threshold35 th Percentile 12.5%$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2~RF:.DQ=PF0*8X> @ l  xh  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance IncentiveFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } U} $ }  } $ }  } $ } } $ } I } $ } } $ } <                      #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017C;Fiscal Year 2015-2017 LTIPP Performance Results and Payment     Performance Metric   Weighting   Threshold  Target  Maximum   Performance   Payout (% of             Target) ROI*  50%  7.4%  9.8%  11.8%  10.1%  111.6% TSR (by percentile)  50%  35th  50 th  90 th  52.7 (19.2 TSR)  106.7% Payout as a % of Target    25%  100%  200%  Weighted Average Payout  109.15%$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,|]QE9[>2&=PF0*8X> @"    l  |  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP Perf!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } U} $ }  } $ }  }  $ } } $                         #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017C;Fiscal Year 2015-2017 LTIPP Performance Results and Payment     NEO   Target 2015-   Weighted    PUs Earned     2017 PU Award   Average Payout   (#)   (#)   (%) William A. Wulfsohn  ~ nn    I[@   ~ ^  J. Kevin Willis  ~     I[@   ~ "  Peter J. Ganz~ eI[@  ~  n Anne T. Schumann~ -I[@  ~  1 J. William Heitman~ 'I[@  ~  ^+ Luis Fernandez-Moreno *~ "GI[@  ~  M $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2 ]QE9z,s U=PF0*8X> @Z          l  D  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)Fiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } U} $ }  } $ }  } $ } } $ } I } $ } } $ } <                         #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/20177/Fiscal Year 2016-2018 LTIPP Performance Results     Performance Metric   Weighting   Threshold  Target  Maximum   Performance   Payout (% of             Target) ROI*  50%  6.7%  8.9%  10.7%  8.8%  96.8%              TSR (by percentile)  50%  35 th  50 th  90 th  22 nd  0%    Payout as a % of Target 25% 100% 200%  Weighted Average Payout  48.40%$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2 i]QE"iiWv=PF0*8X> @"    l  q  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP Perf!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } U} $ }  } $ }  }  $ } } $ }  } $      #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/20177/Fiscal Year 2016-2018 LTIPP Performance Results      NEO  Target 2016-2018   2/3 Performance-based   1/3 Time   Total RSUs from    PU Award    PUs Earned    Vested RSUs   the 16-18 LTIPP   (#)   (#)   (#)   (#) William A. Wulfsohn  ~ {   ~    ~    ~   J. Kevin Willis  ~    ~ v9   ~ ^;   ~ t  Peter J. Ganz~ l~ &#  ~  N$  ~ rGAnne T. Schumann~ 0~   ~  2  ~ J. William Heitman~ '~    ~  B   ~ Luis Fernandez-Moreno *~ 4~   ~    ~ "$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2 i]QEyF_|=PF0*8X> @z          l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } $} $ }  } $ }  }  $ } } $                         #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017-%EPIRP Performance Results and Payment     NEO  EPIRP Grant After   1/6 of Original Maximum   2/3 of Original Maximum    Conversion (Maximum)   Grant Converted to Time   Grant PUs Earned   ? including dividends   Vested Restricted Stock        at 9/30/17 William A. 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Schumann~ &~ ~  ~   Luis Fernandez-Moreno*~ ~ S  ~   $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2t sg[ORk=PF0*8X> @b           l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } } $ } U} $ } y}  $ } y} $ }  } $ } y} $ }  } $ } y} $ }  } $ !!!!!!!!!! ! ! ! ! !!!!!!!!!!!!!!#ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017,$Fiscal Year 2017 Annual Equity Grant       NEO  Target   Target   SAR   SAR   RSU   RSU   Target   Target    FY2017   FY2017   Award   Award   Award   Award   FY2017-   FY2017-   Equity   Equity  ~    (#)  ~    (#)   2019 PU   2019 PU   Award   Award                   Award   Award   (as a  ~                   ~    (#) % ofSalary)William A. Wulfsohn~ B~ 4  ~  F  ~ 9~ F~ ~ ~ = J. Kevin Willis~ ~ M  ~  r  ~ ~ r~ vO~ &~   Peter J. Ganz~ Z~ R90  ~  V   ~ :~ V ~  2~ ~ b Anne T. Schumann~ j~   ~  <  ~ ֈ~ <~ ~ By ~ * J. William Heitman~ j~ r  ~  ރ  ~ .w~ ރ~ "~  ~ $ Luis Fernandez-Moreno~ Z~ ]1  ~  bW   ~ >B~ bW ~  2~ ®~ d $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:th\Pq#{ro~=PF0*8X> @*%                                 l   V  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity Compensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } +} $ } y<      #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017( Compensation Committee Practices* " Independence of Committee Members 2 *The Compensation Committee members satisfy  : 2the NYSE independence standards, are ?non-employee  . &directors? under SEC rules and satisfy  1 )the requirements of an ?outside director?  1 )for purposes of the Internal Revenue Code (the ?Code?).,$ Independent Compensation Consultant.&The Compensation Committee retains and0(annually reviews the independence of its compensation consultant. Annual Risk Assessment.&The Compensation Committee conducts an0(annual risk assessment of our executive,4,management, and sales incentive compensation1)plans to ensure they are aligned with our4,compensation philosophy and do not encourageexcessive risk taking.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/D lxl`T0j U1w;j}C=PF0*8X> @ l  SC  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } 8} $ } = S     #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017( Compensation Committee Practices  Compensation at Risk ; 3We grant a high percentage of at-risk compensation.  0 (We believe this is essential to creating  & a pay-for-performance culture.   '  Target Pay at the Median Level 5 -We generally target total direct compensation/'opportunities at the competitive market6.median and allow performance (both operational3+and shareholder return) to determine actual0(or realized pay. Actual pay may be above80or below the target median based on performance. Mitigate Undue Risk2*We mitigate undue risk in our compensation2*program by instituting governance policies0(such as capping potential payments under1)our incentive plans, instituting clawback2*provisions, utilizing multiple performance0(metrics, including absolute and relative2*metrics, striking a balance between short--%and long-term incentives and adopting%stock ownership requirements.# Stock Ownership Guidelines.&The Compensation Committee has adoptedD lxl`T0x6Wjl7T !"#$%&'()*+,-./0123456789:;<=>?  / 'stock ownership guidelines that are the!!0!(lesser of the dollar value of a multiple""2"*of base salary or a fixed number of shares##4#,of Ashland stock: (i) five times base salary$$1$)or 125,000 shares for the CEO, (ii) three%%2%*times base salary or 30,000 shares for the&&4&,CFO, (iii) three times base salary or 25,000''5'-shares for the General Counsel and Secretary,((3(+(iv) two times base salary or 11,000 shares))4),for the Chief Human Resources and IT Officer**6*.and (v) two times base salary or 11,000 shares++1+)for the Controller. The executive officer,,3,+must achieve compliance with the guidelines--1-)by the fifth anniversary of the officer?s../.'appointment. All executive officers are//*/"in compliance with the guidelines.0001 Clawback Policy131+We have the right to seek recoupment of all2202(or part of annual cash incentives or PUs3323*if there is a restatement of our financial4424*statements for any such year which results5565.from fraud or intentional misconduct committed666by an award holder.777)8! Anti-Hedging and Pledging Policy8/8'We prohibit our executive officers from99,9$hedging Ashland securities. Pledging:::is also prohibited.;;;/<' ?Double triggers? in Change in Control<0<(The NEOs and other executive officers do= Agreements=.=&not receive change in control benefits>>->%unless their employment is terminated??3?+without cause (or by the executive for goodD li~0@Qj$Ug0 X!6@ABCDEFGHIJKLMNOPQR@@3@+reason) within a specified period followingAAAa change in control.BBB7C/ No Tax Gross Ups on Change in Control BenefitsC1C)The NEOs and other executive officers areDD2D*not entitled to tax gross ups in the eventEE1E)that their change in control benefits areFF0F(subject to the ?golden parachute? exciseGGGtax under the Code.HHH0I( Equity Incentive Compensation Plan BestI3I+As described in Proposal Four of this proxyJ PracticesJ1J)statement, our 2018 Omnibus Plan includesKK4K,many best practices, such as minimum vestingLL-L%periods and absence of single-triggerMM7M/vesting and liberal share recycling provisions.NO$P____________________________1Q)Created by Morningstar Document Research.0R(http://documentresearch.morningstar.com/*GhyU> z1=PF0*8X> @RRQQPP l  &  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Summary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } $ }       #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017%Compensation Committee Report   COMPENSATION COMMITTEE   Barry W. Perry, Chair   Jay V. Ihlenfeld   George A. Schaefer, Jr.   Janice J. TealMichael J. Ward Kathleen Wilson-Thompson$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/.{ocW3Qp=PF0*8X> @ l  1$Zn  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } 8} $ }  } $ } y}  $ }  } $ } y} $ } y} $ } y} $ } y} $ }  }  $ } !!y} ""$ 1########## # # # # ####################ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017Summary Compensation      !"# Name and Principal Position  Year    Salary (1)   Bonus  Stock   Option    Non-Equity    Change in    All Other   Total " (a)  (b)  ~   ~    Awards (2)    Awards (3)    Incentive   Pension   Compen-  ~        (c)   (d) ~   ~    Compen-   Value    sation (6)   (j)             (e)   (f)    sation (4)   and Non-  ~                     ~     Qualified   (i)      (g)Deferred     Compen-     sation      Earnings (5)     ~       (h)W. A. Wulfsohn~ ~ G ~    ~  h~ >Q~ S~ ~ G ~ !ފ"1)Chairman of the Board and Chief Executive~ ~ H ~    ~  &~ [~ uC~ ~ l  ~ !"Officer~ ~~ bG0 ~    ~  T~ 2GV~ VQ~ ~  ~ !/"      !" J. K. Willis~ ~ # ~    ~  ,4~ n~ Φ~ ~ F ~ !NÏ"1)Senior Vice President and Chief Financial~ ~ 2]# ~    ~  ~ ~ V~ F_n~  ~ !"Officer~ ~~  ~    ~  s~ މ~ ~ 5~ v> ~ !."      !" P. J. Ganz~ ~   ~    ~  ʈ ~  ~ "~ ~ j ~ !l"Senior Vice President,~ ~   ~    ~  Z~ ~ B%~ ~ b ~ !Z5"%General Counsel and Secretary~ ~~ } ~    ~  JW~ ~ ~ v&~ ~  ~ !F;"      !"D'lxl`HR +) #!#"###$#%#&#'#(#)#*#+#,#-#.#/#0# A. T. Schumann  ~    ~ v  ~   ~ .-   ~ n   ~ ry   ~    ~ ?   ~ !ZdA "7!/Senior Vice President and Chief Human Resources!!~ !!!!~ !!! ~ ! ! ! ~ ! ;h!!!~ !!!!~ ! !!!~ !v!!!~ !v!!! ~ !!¢!""and IT Officer########## # # # # ################### #!#"$J. William Heitman (7)$$~ $$$$~ $$$ ~ $ 0&$ $ ~ $ ~> $$$~ $F@$$$~ $$$$~ $$$$~ $B$$$ ~ $! p]$"%%Vice President and Controller%%%%%%%%% % % % % %%%%%%%%%%%%%%%%%%% %!%"&&&&&&&&&& & & & & &&&&&&&&&&&&&&&&&&& &!&"'L. Fernandez-Moreno''~ ''''~ ''' ~ ' ' ' ~ '  '''~ '2'''~ ' '''~ ''''~ ' ''' ~ '!>Y@'"(Former Senior Vice((~ ((((~ (!(( ~ ( ( ( ~ ( 6,(((~ ((((~ (y (((~ ((((~ (ڪ((( ~ (!r (") President and"*President, Chemicals Group**~ *~***~ **** ~ * * * ~ * &***~ *D ***~ ****~ ****~ *B*** ~ *!n*"++++++++++ + + + + +++++++++++++++++++ +!+",-$.____________________________1/)Created by Morningstar Document Research.00(http://documentresearch.morningstar.com/&@2 =PF0*8X> @J)00"//".."             !       !       ! l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Stock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } 7} $ }  } $ }  }  $ } } $ }  } $ }  } $ }  } $      #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017"Summary Compensation Table        W.A.    J.K. Willis    P.J. Ganz   A.T.   J.W.    L. Fernandez-    Wulfsohn  ~   ~    Schumann   Heitman   Moreno  ~           ~   ~   ~ 3 +Ashland Employee Savings Plan Contributions  ~ vh   ~    ~    ~ 65   ~ ֯   ~   (a)#Life Insurance Premiums (b)~ ~    ~    ~ ~ ~ -%Ashland Contribution to Non-Qualified~ * ~   ~  ^  ~ ~ ~ %Defined Contribution Plan (c).&Tax Reimbursement for Housing Expenses~ J~   ~    ~ ~ ~ and Personal Travel Severance (d)~ ~   ~    ~ ~ ~ 6.Charitable Match Program- Ashland Contribution~ b ~ R  ~  B  ~ R~ ~ &  Other (e)~ ~ ~  ~  rO  ~ ~ b~       Total~ G~ F  ~  j  ~ ?~ B~  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/>0~rfZ.$,g dxL=PF0*8X> @               l  6A~  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } } $ } y } $ }  }  $ } y} $ } y} $ }  } $ }  } $ }  } $ }  } "$ } ## } $*$ } ++y} ,,$ 6---------- - - - - -------------------#ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017Stock Option Grants      !"#$%&'()*+,     " Estimated Possible Payouts   Estimated Future Payouts   All  ! " All Other $ % &Exercise ( ) *Grant ,       Under   Under Equity Incentive   Other  ! "Option $ % &or Base ( ) *Date      ! Non-Equity Incentive Plan   Plan Awards (2)   Stock  ! "Awards: $ % &Price of ( ) *Fair        Awards (1)               Awards:  ! " Number of $ % &Option ( ) *Value of                               Number  ! " Securities $ % & ' ( ) *Stock      of !" Underlying$%&'() *And     Shares !"#$%&'()*Option     of Stock Name Grant Threshold  Target  Maximum ThresholdTargetMaximumor Units !"Options$%&Awards()*Awards, Date~  ~    ~  (#) (#) (#)(#) (3) !"(#) (4)$%&($/Sh)()*($) (5) (a) (b) (c)   (d)   (e) (f) (g) (h) (i) ! "(j)$% &(k)() *(l),W. A. Wulfsohn~ j  ~  W  ~  !"#$%&'()*+,11/16/16     ~ z~ =~ { !"#$%&'()*~ +Zr{,11/16/16     ~  !"#$%&'()*~ +j@,11/16/16      !"~ #9$%&!{GL@()*~ +>Q,      !"#$%&'()*+, J. K. Willis~ :a  ~    ~ &/ !"#$%&'()*+,11/16/16     ~ '~ ~ = !"#$%&'()*~ +n/",11/16/16     ~ vO !"#$%&'()*~ +Z,11/16/16      !"~ #$%&!{GL@()*~ +n,      !"#$%&'()*+, P. J. Ganz~   ~    ~ R% !"#$%&'()*+,11/16/16     ~ ~ b~ . !"#$%&'()*~ +"5,D_1lymaEqYqwU9 ۷ٕy -!-"-#-$-%-&-'-(-)-*-+-,---.-/-0-1-2-3-4-5-    11/16/16                           ~  2  ! " # $ % & ' ( ) *~ +S  ,!!!!11/16/16!!!!!! ! ! ! ! !!!!!!!!!!!!!!!!!!! !!!"~ !#:!$!%!&!{GL@!(!)!*~ !+ !,"""""""""" " " " " """"""""""""""""""" "!"""#"$"%"&"'"(")"*"+",#A. T. Schumann######~ #b## # ~ # 9# # #~ ################## #!#"###$#%#&#'#(#)#*#+#,$$$$11/16/16$$$$$$ $ $ $ $ $$$$$~ $ $$$~ $*$$$~ $ZU$$$$$ $!$"$#$$$%$&$'$($)$*~ $+- $,%%%%11/16/16%%%%%% % % % % %%%%%%%%%%%%%%%%%~ %% %!%"%#%$%%%&%'%(%)%*~ %+F%,&&&&11/16/16&&&&&& & & & & &&&&&&&&&&&&&&&&&&& &!&"~ &#ֈ&$&%&&!{GL@&(&)&*~ &+n&,'''''''''' ' ' ' ' ''''''''''''''''''' '!'"'#'$'%'&'''(')'*'+',( J. W. Heitman((((((~ (b(( ( ~ ( ( ( (~ (c((((((((((((((((( (!("(#($(%(&('((()(*(+(,))))11/16/16)))))) ) ) ) ) )))))~ )6 )))~ )$)))~ )I))))) )!)")#)$)%)&)')()))*~ )+),****11/16/16****** * * * * *****************~ *"* *!*"*#*$*%*&*'*(*)**~ *+T*,++++11/16/16++++++ + + + + +++++++++++++++++++ +!+"~ +#.w+$+%+&!{GL@+(+)+*~ ++F@+,,,,,,,,,,, , , , , ,,,,,,,,,,,,,,,,,,, ,!,",#,$,%,&,',(,),*,+,,-L. Fernandez-Moreno------~ --- - ~ - ®- - -~ -"%----------------- -!-"-#-$-%-&-'-(-)-*-+-,....11/16/16...... . . . . .....~ ....~ .d...~ ...... .!.".#.$.%.&.'.(.).*~ .+*.,////11/16/16////// / / / / /////////////////~ / 2/ /!/"/#/$/%/&/'/(/)/*~ /+S /,000011/16/16000000 0 0 0 0 0000000000000000000 0!0"~ 0#>B0$0%0&!{GL@0(0)0*~ 0+20,12$3____________________________14)Created by Morningstar Document Research.05(http://documentresearch.morningstar.com/0&j>}U3ߎl`T,=PF0*8X> @RJ55,44,33,00&'++&'&&&'!!&'&'&' "#&'*+ "#&'*+ "#&'*+*+"#*+  "# *+   "# &' *+    "# &' *+    "# &' *+    "# &' *+ l  G),f8k  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } } $ }  } $ }  } U} $ } } $ }  } $ }  } $ }  } $ } y} $ }  } "$ } ##y} $$$ G%%%%%%%%%% % % % % %%%%%%%%%%%%%%%%%%%#ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017!Outstanding Equity Awards      !"#$    Option Awards    Stock Awards $ Name   Number of    Number of   Equity   Option   Option   Number   Market   Equity  ! "Equity $ (a)   Securities    Securities    Incentive   Exercise    Expiration    of Shares   Value of    Incentive  ! "Incentive Plan    Underlying    Underlying   Plan   Price   Date   or Units    Shares or   Plan  ! "Awards:    Unexercised    Unexercised   Awards:  ~    (f)   of Stock   Units of   Awards:  ! " Market orOptionsOptions   Number of   (e) That Stock Number of !" Payout Value ExercisableUnexercisable (1)   Securities  Have Not ThatUnearned !" of Unearned~  (#)   Underlying   Vested (2)Have NotShares, !" Shares, Units (#) (c)   Unexercised   (#) Vested (2)Units or ! "or (b)  Unearned   (g)~  Other ! "Other  Options   (h) Rights That !" Rights That   (#)  Have Not !"Have Not   (d)   Vested (3) !" Vested (3)      (#) !~ "      (i) ! "(j)W. A. Wulfsohn~ ~ 9~   ~    {GL@ 12/16/2026 !"#$~ fJ~ fJ~   ~    GzM@ 12/28/2025 !"#$~ F~ rR~   ~     ףp=*O@ 2/28/2025 !"#$     ~ R~ / !"#$     ~ = !"~ #$      !"#$ J. K. 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Fernandez-Moreno@@@@@@@@@ @ @ @ @ @@@@@@@@@@@@@@@@@~ @ @ @!@"~ @#J@$AAAAAAAAAA A A A A AAAAAAAAAAAAAAAAAAA A!A"A#A$BC$D____________________________1E)Created by Morningstar Document Research.0F(http://documentresearch.morningstar.com/x-qeY1=PF0*8X> @ZFF$EE$DD$"#"# "# "# "# "# "# "# "# "#        "#        "#        "#        "#  # l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity Awards!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } } $ }  } $ }  }  $ } } $ } U} $      #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017LTIPP and EPIRP      Name  2015-2017 LTIPP -   2016-2018 LTIPP -    EPIRP - RS    EPIRP - RS     RSUs earned    RSUs earned   Earned   Dividends Earned W. 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Fernandez-Moreno~ 7~ "  ~  r  ~ w$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/@<Dwk_S<` )]}%Yx=PF0*8X> @               l   ֹ  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock Vest Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } } $ } a/} $ } } $ } y}  $                                 #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017Pension Benefits     Name   Plan Name (1)  Number of Years  Present Value of   Payments During  (a)  (b)  Credited Service (2)  Accumulated Benefit   Last     (#) ~     Fiscal Year     (c)  (d)  ~            (e) J. K. Willis%Ashland Hercules Pension Plan27 years 9 months~ vC    -%Valvoline Excess Benefit Pension Plan27 years 9 months~ ^    /'Valvoline Supplemental Early Retirement20 years~     "Plan for Certain Employees    A. T. Schumann%Ashland Hercules Pension Plan16 years~ f)    Hercules Excess Plan16 years~ e    /'Valvoline Supplemental Early Retirement17 years~     "Plan for Certain Employees     J. W. Heitman%Ashland Hercules Pension Plan7 years 10 months~ J    -%Valvoline Excess Benefit Pension Plan7 years 10 months~ ~#    /'Valvoline Supplemental Early Retirement8 years 10 months~ @    "Plan for Certain Employees$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/Dl|pd\T!Tz"Ho{S=PF0*8X> @b        l  {  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } } $ } 6} $ } 0} $ } 6      #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017 Assumptions   Qualified Pension Plan % Valvoline Excess Benefit Plan  Hercules Excess Plan Discount rate and - %3.77%; RP-2014 Generational Mortality / '8.00%; PPA Mortality at retirement age, - %3.60%; RP-2014 Generational Mortality mortality assumptions 2 *Tables adjusted to 2006 by removing impact . &discounted from retirement age back to 2 *Tables adjusted to 2006 by removing impact (no pre-retirement 5 -of projection scale MP2014 and then projected 0 (current age using ASC715 disclosure rate 5 -of projection scale MP2014 and then projected mortality is assumed) - %generationally with the MSS2017 scale  of 3.56% - %generationally with the MSS2017 scale"Present value of qualified0(8.00%; GATT mortality at SERP retirement/'8.00%; PPA Mortality at retirement age,/'8.00%; PPA Mortality at retirement age,and excess benefits for0(age, discounted from SERP retirement age.&discounted from retirement age back to.&discounted from retirement age back toSERP determination (no3+back to current age using ASC715 disclosure0(current age using ASC715 disclosure rate0(current age using ASC715 disclosure rate pre-retirement mortality rate of 3.69%of 3.69%of 3.69% is assumed)$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4 uiz +Fr=PF0*8X> @ l   1  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } U} $ }  } $ }  }  $ } } $ }  } $ }  } $      #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017+#Non-Qualified Deferred Compensation      Name   Executive    Registrant    Aggregate    Aggregate    Aggregate  (a)   Contributions    Contributions    Earnings/    Withdrawals/    Balance at   in Last FY (1)   in Last FY (2)    (Investment    Distributions    September 30,  ~   ~    Change)    in Last FY  ~    (b)   (c)   in Last  ~   ~    FY (3) ($)   (e) (f)   (d)W. 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Fernandez-Moreno (4)~ ~   ~  "  ~ &~ $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/Dlui]QUcs~w{im]aMQ>B% =PF0*8X> @                        l  6ll3  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred CompensatPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } 0} $ } y} $ } y}  $ } } $ } y} $ }  } $ } y} $ 6     #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017F>Potential Payments upon Termination or Change in Control Table      Name/Kinds of Payments   Termination   Disability (8)    Voluntary   Retirement (10)    Change in    Termination  (a)   prior to a  ~     Resignation  ~    Control    after Change    Change in   (c)   or   (e)   without    in Control    Control of        Involuntary        Termination    of Company   Company        Termination      ~    withoutwithout   for Cause  ~ Cause or Cause ~     (f) by Executive~  ~    for Good (b)   (d)  Reason     ~      ~       (g)W. 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J. Ganz     Cash severance~ j4~   ~    ~ ~ ~ 8Accelerated SARs (1)~ ~   ~    ~ ~ :,~   RS/RSUs (2)~ 1 ~   ~    ~ ~ &~ F.( Performance-Restricted Stock (3)~  ,~  ,  ~    ~ ~ ~  , LTIPP (4)~ 0~ 0  ~    ~ 0~ 0~ ޻G"Incentive compensation (5)~ "~ "  ~    ~ "~ "~ "Welfare benefit~ z3~   ~    ~ ~ ~  Outplacement~ bm~   ~    ~ ~ ~ bmFinancial planning~ "N~   ~    ~ ~ ~ "N0(Present value of retirement benefits (6)~ ~   ~    ~ ~ ~ DilZNB6 oYB z7L !"#$%&'()*+,-./0123456789:;<=>?                          !Total!!~ !!!!~ !t!! ! ~ ! ! ! !~ !6H!!!~ !a!!!~ !z!"""""""""" " " " " """""""""""#A. T. 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dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } a/} $ } 8} $ } U5} $ } 0      #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017kcSARs/Stock Options, Incentive Compensation, Restricted Stock/Restricted Stock Units and Performance   Termination from  Death, Disability or  Change in Control    Employment*   Retirement* SARs/Stock Options 4 ,Termination within one year of grant results . &May exercise vested SARs/stock options  Immediately vest  2 *in forfeiture; otherwise lesser of 30 days 3 +during the remainder of the exercise period  7 /or the exercise period within which to exercise%the vested SARs/stock optionsIncentive Compensation/'In general, termination before the last4,Pro-rata payment based on actual achievement-%Accelerate the performance period and2*business day of the month prior to payment%for entire performance period/'pay based on actual achievement throughresults in forfeiture)!the date of the change in control/'Restricted Stock/Restricted Stock Units-%Termination before vesting results in2*Occurrence of event before payment resultsImmediately vest forfeiture in forfeiturePerformance Units.&In general, termination before payment4,Pro-rata payment based on actual achievement-%Accelerate the performance period andresults in forfeiture%for entire performance period/'pay based on actual achievement for the0(period through the date of the change incontrol$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/D l5)46!g: .j=PF0*8X> @ l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } $} $ }  } $ }  } $                     #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017NFPROPOSAL TWO RATIFICATION OF INDEPENDENT REGISTERED PUBLIC ACCOUNTANTS  ~   ~   Audit Fees (1) ~    ~    Audit-Related Fees (2)  ~ B   ~ B   Tax Fees (3)  ~ ")   ~ "  All Other Fees (4)  ~    ~  $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/*hRF:.j~th@=PF0*8X> @:     l  {  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF INPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } 2} $ }  } $ }  }  $ }  } $ }  } $      #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017 BURN RATE        Year Ended September 30   3-Year   ~   ~   ~ ~   Average  SARs Granted  ~    ~ B   ~ "   ~ y  ! Full Value Awards Granted  ~     ~     ~    ~ >C  . &Adjusted Full Value Awards Granted (1)  ~ z   ~     ~ :   ~ $ 2*Total Shares Granted (SARs + Adjusted Full~ <7~ 6  ~  "K  ~ zC= Value Awards)+#Weighted Average Shares Outstanding~ .~ 7  ~  d6  ~ VV Burn Rate 1.46% 1.43%    1.82%   1.56%$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2 wk.=PF0*8X> @J       l  5  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATE!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } :} $ } y} $      #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017Potential Dilution4 ,Potential Overhang with 3,311,779 Additional  Shares:" Stock Appreciation Rights:    5 -Shares of common stock subject to outstanding  ~ f $ SARs as of November 30, 20171)Weighted average exercise price per share!QI@0(Weighted average term remaining in yearsGz@80Full value awards outstanding as of November 30,~ J ~ 2*Shares available for grant under the Prior~ v*$Plan as of November 30, 2017#Additional requested Shares~ "-%Total Potential Dilution, or Overhang~ k4,Potential Dilution as a Percentage of Shares 10.3% * Outstanding$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/>M0znb&y9|`=PF0*8X> @2   l    dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential DilutionNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } 0.} $ } y} U} $ } } U} $ } y} U                                 #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017,$Equity Compensation Plan Information      , $Equity Compensation Plan Information   Plan Category  Number of securities   Weighted-average   Number of securities    to be issued upon   exercise price of   remaining available    exercise of    outstanding   for future issuance   outstanding options,   options, warrants    under equitywarrants and rights and rights  compensation plans   (excluding  securities reflected  in column (a)) (a) (b)   (c) -%Equity compensation plans approved by~ *>~ != ףpG@~   ~  W~  security holders.&Equity compensation plans not approved~ N~ ~   ~  J6P~  by security holders     Total~ R!= ףpG@~   ~  &e     $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/B Xth\P`m5}7O0WK?=PF0*8X> @                 l  -O '  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan Inform!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } 6} $ } }  $ } } $ -                                 #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017 Non-GAAP Reconciliations    5 -Ashland Global Holdings Inc. and Consolidated           Subsidiaries 0 (RECONCILIATION OF NON-GAAP DATA?ADJUSTED          EBITDA (in millions)~  ~   Net income (loss)~  r ~   $Income tax expense (benefit)~   ~   0(Net interest and other financing expense~   ~   %Depreciation and amortization~ j  ~       EBITDA~   ~   0(Income from discontinued operations (net~   ~    of taxes)2*Separation, restructuring and other costs,~ ^  ~  J  net Accelerated depreciation~ N  ~   !Unplanned plant shutdowns~ 6  ~   )!Environmental reserve adjustments~ &  ~  > 'Inventory fair value adjustment~   ~   2*Losses on pension and other postretirement~   ~  : plan remeasurementsD|lth\WE9[:&m ! " # $ % & ' ( ) * + , 1 )Net loss on acquisitions and divestitures  ~        ~ 2 ! Legal reserve!!~ !!!!!!! ! ~ ! >! " Impairments""~ """"""" " ~ " " *#"Benefit/stock incentive adjustment##~ ####### # ~ # # !$Customer claim adjustment$$~ $$$$$$$ $ ~ $ $ %%%%%%%%%% % % % &Adjusted EBITDA&~ & &&&&&& ~ & Z & '''''''''' ' ' ' ()$*____________________________1+)Created by Morningstar Document Research.0,(http://documentresearch.morningstar.com/7d1}U=PF0*8X> @J ,, ++ ** &&&&   l  <  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP ReconciliationsEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } m)} $ } U} $ } U} $                              #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017-%Adjusted EBITDA Specialty Ingredients  (in millions) ~   ~    Operating income ~    ~   '  Depreciation and amortization  ~    ~             EBITDA  ~ :   ~ r # Severance and other costs~ ~ " Accelerated depreciation~ :~ )! Inventory fair value adjustment~ ~ " Unplanned plant shutdown~ ~ *" Environmental reserve adjustment~ ~   Customer claim~ ~  Adjusted EBITDA~  ~  r$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/< sg[O|o]=PF0*8X> @J      l  CM  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty Ingre!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } y#} $ } $} $ } $} $                      #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017EBITDA Composites  (in millions) ~   ~   Operating income ~    ~   % Depreciation and amortization  ~ Z   ~ Z           EBITDA* ~  f  ~  V $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/,|{oc*1fZN&=PF0*8X> @J        l  _  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } y#} $ } $} $ } $} $                          #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/20172*Adjusted EBITDA Intermediates and Solvents  (in millions) ~   ~   Operating loss ~    ~  . % Depreciation and amortization  ~ ~   ~ ~           EBITDA  ~ N   ~   Unplanned plant shutdown~ ~  Impairment~ ~ Adjusted EBITDA~  j~  ~$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4&nbVJy6cWK#=PF0*8X> @J      l  kp  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates aRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } U5} $ } U} $      #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017-%RECONCILIATION OF OTHER NON-GAAP DATA  ~   Operating income (loss) ~  : ) !Key items as externally reported*  ~ J      ! Adjusted operating income  ~  Management exceptions**~ F4,Adjusted operating income used for incentive~   compensation$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/4&sg[O9QcWK#=PF0*8X> @2   l  )Ym  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (2)!This proxy is solicited on beha!If you do not provide voting inU } $ } %} $ } U5 )     #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017-%RECONCILIATION OF OTHER NON-GAAP DATA         ' V O T E B Y T E L E P H O N E       ' C/O CORPORATE ELECTION SERVICES      P.O. BOX 1150 / 'Have your proxy card available when youPITTSBURGH PA 15230-%call Toll-Free 1-888-693-8683 using a.&touch-tone phone and follow the simple)!instructions to record your vote.%V O T E B Y I N T E R N E T/'Have your proxy card available when you.&access the website www.cesvote.com and0(follow the simple instructions to record your vote.V O T E B Y M A I L2*Please mark, sign and date your proxy cardD lsg[O|@uBq54N !"#$%&'(    2 *and return it in the postage-paid envelope!!!!4!,provided or return it to: Corporate Election""""/"'Services, P.O. Box 1150, Pittsburgh, PA####~ #$%$&____________________________1')Created by Morningstar Document Research.0((http://documentresearch.morningstar.com/2yQ=PF0*8X> @((''&& l  1  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)!This proxy is solicited on beha!If you do not provide voting inU } $} $ } $} $ }                          #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017-%RECONCILIATION OF OTHER NON-GAAP DATA          Vote by Telephone    Vote by Internet     Vote by Mail      Call Toll-Free using a    Access the Website and    Return your proxy     touch-tone telephone:cast your vote:in the postage-paid1-888-693-8683www.cesvote.comenvelope provided$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/2sg[OwD=PF0*8X> @ l  I  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!If you do not provide voting inU } $      #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017jbThis proxy is solicited on behalf of the Board of Directors for the Annual Meeting of Stockholders              (Sign Here)1)INSTRUCTIONS: Please sign exactly as your0(name appears on this proxy. When signing5-as a fiduciary or on behalf of a corporation,5-bank, trust company, or other similar entity,/'your title or capacity should be shown.$____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/66*^/ r!ymE=PF0*8X> @J   l  X  dMbP?_*+%,&٭e2?'٭e2?(٭e2?)٭e2?",D/??F!OF THE SECURITIES EXCHANGE ACT NA!Dear Ashland Global Holdings InTo our StockholdersTo our Stockhol (1)To our Stockhol (2)Summary CompensationAnnual Meeting InformationVoting MattersDirector Nominees!QUESTIONS AND ANSWERS ABOUT THEBeneficial OwnershipCommon Stock OwnershipDIRECTOR NOMINE (1)DIRECTOR NOMINE (2)DIRECTOR NOMINE (3)DIRECTOR NOMINE (4)DIRECTOR NOMINE (5)Director Compensation TableDirector Compensation (1)!COMMITTEES AND MEETINGS OF THE Summary Compens (1)!Fiscal Year 2017 Ashland Perfor!Compensation Philosophy and ExePrimary Compensation ElementsCompensation Peer Group Base Salary!Annual and LongTerm Incentive MAnnual and LongTerm (1)!Fiscal Year 2017 Annual IncentiFiscal Year 2017 Annual (1)  thousandsFiscal Year 2017 Annual (2)!Changes to the fiscal 20152017 !Fiscal Year 20172019 LTIPP DesiFiscal Year 20172019 (1)!Executive Performance Incentive!Fiscal Year 20152017 LTIPP PerfFiscal Year 20152017 (1)!Fiscal Year 20162018 LTIPP PerfFiscal Year 20162018 (1)!EPIRP Performance Results and P!Fiscal Year 2017 Annual Equity !Compensation Committee PracticeCompensation Committee (1)Compensation Committee ReportSummary Compens (2)Summary Compensation TableStock Option GrantsOutstanding Equity AwardsLTIPP and EPIRP!Option Exercises and Stock VestPension Benefits Assumptions!NonQualified Deferred Compensat!Potential Payments upon TerminaPotential Payments upon (1)!SARsStock Options Incentive Com!PROPOSAL TWO RATIFICATION OF IN BURN RATEPotential Dilution!Equity Compensation Plan InformNonGAAP Reconciliations!Adjusted EBITDA Specialty IngreEBITDA Composites!Adjusted EBITDA Intermediates a!RECONCILIATION OF OTHER NONGAAPRECONCILIATION OF OTHER (1)RECONCILIATION OF OTHER (2)!This proxy is solicited on behaU } $} $ } a} $ } } $ } I } $ } I } $ } $} $ } } $ } } $ } I } $ } I } $      #ASHLAND GLOBAL HOLDINGS INCDEF 14A 12/06/2017kcIf you do not provide voting instructions, your proxy will be voted FOR proposals 1, 2, 3, and 4. T       Nominees:  FOR  AGAINST  ABSTAIN      FOR  AGAINST  ABSTAIN             ~   Brendan M. Cummins  ?  ?  ? ~    Mark C. Rohr  ?  ?  ?             ~    William G. Dempsey  ?  ?  ? ~ "  Janice J. Teal  ?  ?  ?     ~ Jay V. Ihlenfeld ? ? ? ~  &  Michael J. Ward  ? ? ?   ~  Susan L. Main ? ? ? ~  *   Kathleen Wilson-Thompson  ? ? ?   ~ Jerome A. Peribere ? ? ? ~  .  William A. Wulfsohn  ? ? ?   ~ Barry W. Perry ? ? ?     $____________________________1)Created by Morningstar Document Research.0(http://documentresearch.morningstar.com/:5)^0 \)=PF0*8X> @"  Root Entry FBook    !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~      !"#$%&'()*+,-./0123456789:;<=>?@ABCDEFGHIJKLMNOPQRSTUVWXYZ[\]^_`abcdefghijklmnopqrstuvwxyz{|}~