X0306 4 2017-06-02 0001674862 ASHLAND GLOBAL HOLDINGS INC ASH 0001195811 SCHAEFER GEORGE A JR 851 DELAWARE RIDGE LANE CINCINNATI OH 45226 1 Common Stock 2017-06-05 4 A 0 883 0 A 4619 D Restricted Stock Units 2017-06-02 4 A 0 25990 0 A Common Stock 25990 55410 D Represents 883 shares of restricted stock granted pursuant to the adjustment described in this footnote. Ashland Global Holdings Inc. ("Ashland") distributed to its stockholders on May 12, 2017 (the "Distribution Date") 170,000,000 shares of Valvoline Inc. common stock as a pro rata dividend (the "Distribution"). Pursuant to the terms of the applicable equity compensation plan, the Reporting Person was entitled to receive the number of shares of restricted stock equal to the quotient of (x) the closing price of Ashland common stock on the Distribution Date and (y) the simple arithmetic average of the volume-weighted average price of Ashland common stock for each of the ten consecutive trading days immediately following the Distribution Date (such quotient, the "Equity Award Adjustment Ratio") for each such share of restricted stock. Balance includes 1,883 shares of unvested Restricted Stock. Each Restricted Stock Unit represents a right to receive one (1) share of Ashland Common Stock. The Restricted Stock Units are payable upon the same terms and conditions as were applicable to the Reporting Person's awards of Restricted Stock Units immediately prior to the Distribution. Pursuant to the terms of Ashland's Deferred Compensation Plan for Non-Employee Directors, the Reporting Person was entitled to receive the number of Restricted Stock Units equal to the Equity Award Adjustment Ratio for each such Restricted Stock Unit. Restricted Stock Units were acquired pursuant to Ashland's Deferred Compensation Plan for Non--Employee Directors. One (1) Restricted Stock Unit is the equivalent of one (1) share of common stock. Balance includes 93 additional Restricted Stock Units acquired in lieu of cash dividends paid on March 15, 2017, pursuant to Ashland's Deferred Compensation Plan for Non-Employee Directors, exempt under Rule 16b-3 and converted as described above in footnote 5. /s/ Jennifer I. Henkel, Attorney-in-Fact 2017-06-06