On March 21, 2017, Ashland LLC (the Company) f/k/a Ashland Inc.,
and a subsidiary of Ashland Global Holdings Inc., entered into a
Fourteenth Amendment (the Amendment) to the Transfer and
Administration Agreement dated as of August 31, 2012 among
Ashland Inc., CVG Capital III LLC, the Originators, the
Investors, Letter of Credit Issuers, Managing Agents and
Administrators party thereto, and The Bank of Nova Scotia, as
agent for the Investors. Under the Transfer and Administration
Agreement, CVG Capital III LLC may, from time to time, obtain up
to $100.0 million (in the form of cash or letters of credit for
the benefit of the Company and its subsidiaries) from the
Investors through the sale of an undivided interest in accounts
receivable, related assets and collections on those accounts
receivable sold by the Originators to CVG Capital III LLC, a
wholly owned bankruptcy remote special purpose subsidiary of the
Originators. The commitments of the Investors under the Transfer
and Administration Agreement were set to terminate on March 22,
2017. The Amendment provides for the extension of the termination
of the commitments under the Transfer and Administration
Agreement from March 22, 2017 to March 22, 2018 and certain other
modifications.

The foregoing summary of the Amendment does not purport to be
complete and is subject to and qualified in its entirety by
reference to the Amendment, a copy of which is filed as Exhibit
10.1 hereto and incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits

(d) Exhibits.

Forward Looking Statements

This Form 8-K contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended
and Section 21E of the Securities Exchange Act of 1934, as
amended. Ashland Global Holdings Inc. (“Ashland”) has
identified some of these forward-looking statements with words
such as anticipates, believes, expects, estimates, is likely,
predicts, projects, forecasts, objectives, may, will, should,
plans and intends and the negative of these words or other
comparable terminology. These forward-looking statements include
statements relating to our plan to drive profitable growth and
the expected completion of the final separation of Valvoline Inc.
(Valvoline) through the distribution of Valvoline common stock.
In addition, Ashland may from time to time make forward-looking
statements in its annual reports, quarterly reports and other
filings with the SEC, news releases and other written and oral
communications. These forward-looking statements are based on
Ashlands expectations and assumptions, as of the date such
statements are made, regarding Ashlands future operating
performance and financial condition, the expected completion of
the final separation, the strategic and competitive advantages of
each company, and future opportunities for each company, as well
as the economy and other future events or circumstances. Ashlands
expectations and assumptions include, without limitation,
internal forecasts and analyses of current and future market
conditions and trends, management plans and strategies, operating
efficiencies and economic conditions (such as prices, supply and
demand, cost of raw materials, and the ability to recover
raw-material cost increases through price increases), and risks
and uncertainties associated with the following: the possibility
that the final separation will not be consummated within the
anticipated time period or at all, including as the result of
regulatory, market or other factors; the potential that Ashland
does not realize all of the expected benefits of the