Item 1.01. Entry into a Material Definitive Agreement.

On January 13, 2023, Valvoline Inc., a Kentucky corporation ("Valvoline") and Ashland Inc. (f/k/a Ashland Global Holdings Inc.), a Delaware corporation ("Ashland") entered into an Amendment, dated as of January 13, 2023 (the "Amendment") to the Tax Matters Agreement, dated as of September 22, 2016, between Valvoline and Ashland (the "Tax Matters Agreement"). The Amendment to the Tax Matter Agreement clarifies the (i) responsibilities with respect to preparing and filing Valvoline tax returns, including amended tax returns, (ii) responsibilities with respect to claiming legacy tax attributes on Valvoline tax returns, and (iii) obligations of the parties with respect to legacy tax attributes claimed on any Valvoline tax return.

The foregoing summary of the Amendment to the Tax Matters Agreement does not purport to be complete and is subject to and qualified in its entirety by reference to the full text of the Amendment, a copy of which is filed as Exhibit 10.1 hereto and is hereby incorporated by reference into this Item 1.01.



Item 9.01.         Financial Statements and Exhibits.
(d) Exhibits

Exhibit No.        Description of Exhibit.
                     Amendment, dated as of January 13, 2023, between Ashland Inc. (f/k/a/
                   Ashland Global Holdings Inc.) and Valvoline Inc. to Tax Matters Agreement,
                   dated September 22, 2016, between Ashland Global Holdings Inc. and Valvoline
99.1               Inc.
104                Cover Page Interactive Data File



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