X0306 4 2013-11-13 0001305014 ASHLAND INC. ASH 0001166068 MITCHELL SAMUEL J 3499 BLAZER PARKWAY LEXINGTON KY 40509 1 Senior Vice President Restricted Stock 2013-11-13 4 A 0 1700 89.69 A 21700 D Common Stock 2013-11-13 4 A 0 6685 0 A 15805 D Common Stock 2013-11-13 4 F 0 3365 89.69 D 12440 D Common Stock 1845 I 401(k) Stock Appreciation Right 89.69 2013-11-13 4 A 0 6200 89.69 A 2014-11-13 2023-12-13 Common Stock 6200 6200 D Grant of Restricted Common Stock, pursuant to the Amended and Restated 2011 Ashland Inc. Incentive Plan as approved by the shareholders and exempt pursuant to Rule 16b-3. The shares in this grant will vest 1/3 after the first year, the next 1/3 after the second year and the remaining 1/3 the third year. Ashland Common Stock acquired upon settlement of LTIP award pursuant to the 2006 Ashland Inc. Incentive Plan and exempt under Rule 16b-3(d). Payment of tax liability by withholding of securities incident to the settlement of LTIP award referenced in footnote 2. Based on Employee Savings Plan information as of October 31, 2013, the latest date for which such information is reasonably available. Stock Appreciation Right granted pursuant to the Amended and Restated 2011 Ashland Inc. Incentive Plan which vests in three annual installments: 50% after the 1st year, the next 25% the 2nd year and the remaining 25% the 3rd year. /s/ Jennifer I. Henkel, Attorney-in-Fact 2013-11-15