Eastman Board Increases Dividend for Seventh Consecutive Year

KINGSPORT, Tenn. Dec. 1, 2016 - The Board of Directors of Eastman Chemical Company (NYSE: EMN) has increased the quarterly cash dividend on the company's common stock by 11 percent from $0.46 to $0.51 per share. The dividend is payable January 3, 2017 to stockholders of record as of December 15, 2016.

"Consistent with Eastman's focus on balanced and disciplined capital allocation and stockholder returns, the company has for the seventh consecutive year increased the dividend," said Curt Espeland, executive vice president and chief financial officer. "This action reflects the Board's confidence in the company's earnings growth and strong cash flow generation."

Eastman is a global specialty chemical company that produces a broad range of products found in items people use every day. With a portfolio of specialty businesses, Eastman works with customers to deliver innovative products and solutions while maintaining a commitment to safety and sustainability. Its market-driven approaches take advantage of world-class technology platforms and leading positions in attractive end-markets such as transportation, building and construction and consumables. Eastman focuses on creating consistent, superior value for all stakeholders. As a globally diverse company, Eastman serves customers in approximately 100 countries and had 2015 revenues of approximately $9.6 billion. The company is headquartered in Kingsport, Tennessee, USA and employs approximately 15,000 people around the world. For more information, visit www.eastman.com.

# # #

Contacts:

Media:  Tracy Kilgore Addington
423-224-0498 / tracy@eastman.com

Investors:  Greg Riddle
212-835-1620 / griddle@eastman.com