X0306 4 2014-06-13 0001305014 ASHLAND INC. ASH 0001023582 OBRIEN JAMES J /KY 50 E. RIVERCENTER BOULEVARD COVINGTON KY 41012-0391 1 Chief Executive Officer Common Stock 2014-06-13 4 J 0 43 105.30 A 43970 D Common Stock 3188 I 401(k) Common Stock 2655 I Lesop Common Stock 130603 I By Trust for Child Common Stock Units 0 2014-06-13 4 J 0 422 105.30 A Common Stock 422 140625 D Restricted Common Stock paid in lieu of cash dividends (exempt pursuant to Rule 16b-3) pursuant to the Amended and Restated 2011 Ashland Inc. Incentive Plan and applicable restricted stock agreements. Includes 13,640 shares of unvested Restricted Stock. Based on Employee Savings Plan information as of June 13, 2014, the latest date for which such information is reasonably available. Shares accrued under Ashland's Leveraged Employee Stock Ownership Plan as of June 13, 2014. 1-for-1 Common Stock Units acquired pursuant to Ashland's Deferred Compensation Plan (the "Plan") and exempt under Rule 16b-3(d). (One (1) Common Stock Unit in the Deferred Compensation Plan is the equivalent of one (1) share of Ashland Common Stock.) Subject to any deferral election on timing of distribution by the reporting person under the Plan, the Common Stock Units are payable in Common Stock upon the reporting person's in-service distribution election, retirement or other termination. /s/ Jennifer I. Henkel, Attorney-in-Fact 2014-06-16