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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Name of Issuer)

(Title of Class of Securities)

(CUSIP Number)

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13D/A 0000902664-19-002744 0001107310 XXXXXXXX LIVE 5 Common Stock, par value $0.01 per share 01/29/2025 false 0001674862 044186104 ASHLAND INC. 8145 BLAZER DRIVE WILMINGTON DE 19808 Ricky C. Sandler 212-418-2100 Eminence Capital, LP 399 Park Avenue, 25th Floor New York NY 10022 Eleazer Klein, Esq. 212-756-2000 Schulte Roth & Zabel LLP 919 Third Avenue New York NY 10022 0001107310 N Eminence Capital, LP b AF N DE 0.00 0.00 0.00 0.00 0.00 N 0 IA PN 0001362459 N Ricky C. Sandler b AF N X1 0.00 0.00 0.00 0.00 0.00 N 0 IN Common Stock, par value $0.01 per share ASHLAND INC. 8145 BLAZER DRIVE WILMINGTON DE 19808 This Amendment No. 5 to the Schedule 13D (this "Amendment No. 5") relates to the common stock, par value $0.01 per share (the "Common Stock"), of Ashland Inc., a Delaware corporation (the "Issuer") and amends the Schedule 13D filed on June 13, 2019 (as amended, the "Schedule 13D"). Capitalized terms used and not defined in this Amendment No. 5 have the meanings set forth in the Original Schedule 13D. This Amendment No. 5 is being filed to amend and restate Item 5 in its entirety. See rows (11) and (13) of the cover pages to this Schedule 13D for the aggregate number of shares of Common Stock and the percentage of the shares of Common Stock beneficially owned by the Reporting Persons. See rows (7) through (10) of the cover pages to this Schedule 13D for the number of shares of Common Stock as to which each Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition. Information regarding transactions in the shares of Common Stock that have been effected by the Reporting Persons during the past sixty (60) days is set forth in Schedule A which is attached hereto and is incorporated herein by reference. Not applicable. January 29, 2025. Eminence Capital, LP /s/ Ricky C. Sandler Ricky C. Sandler, Chief Executive Officer 01/31/2025 Ricky C. Sandler /s/ Ricky C. Sandler Ricky C. Sandler 01/31/2025