Slide 1: Second Quarter 2025 Financial Results
Second Quarter 2025 Financial Results July 29, 2025
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements that reflect the Company’s current views with respect to future events and financial performance. You can identify forward-looking statements by the fact that they do not relate strictly to current or historic facts. Fo
Slide 3: Second Quarter 2025 Highlights
Second Quarter 2025 Highlights Share Repurchases Organic sales growth momentum led by aerospace, protective and marine, and packaging ~$150MM Tepid architectural coatings demand in EMEA Adjusted with improvement in Mexico EPS $2.22 Flat Industrial Coatings segment sales volume reflecting initial sha
Slide 4: Second Quarter Net Sales
Second Quarter Net Sales Organic sales up 2% driven by strength in Performance Coatings segment Net Sales ($ in millions) 1% 1% $4,235 $4,195 Selling prices: Positive with targeted increases -3% partially offset by carry over of index-based pricing in certain customer contracts Volumes: Growth in Pe
Slide 5: Global Architectural Coatings
Global Architectural Coatings Modest growth in Mexico offset by lackluster European demand Net Sales 2Q’25 18.4% ($ in millions) Segment $1,070 1% EBITDA -370 bps Margin -2% $1,018 -4% 2Q’25 Organic Sales Results 2Q'24 Price Volume Divestitures & 2Q'25 Other Architectural LSD EMEA Architectural LSD
Slide 6: Performance Coatings
Performance Coatings Record quarterly sales and earnings with 6% growth in organic sales Net Sales 2Q’25 25.7% ($ in millions) 3% 1% $1,512 Segment 3% EBITDA Margin +30 bps $1,418 2Q’25 Organic Sales Results 2Q'24 Price Volume Currency 2Q'25 Aerospace HSD Refinish LSD Highlights Protective & Marine
Slide 7: Industrial Coatings
Industrial Coatings Flat volume reflecting growing benefits from share gains offsetting end-market declines Net Sales 2Q’25 16.6% ($ in millions) Segment $1,747 0% 1% EBITDA -130 bps -1% $1,665 Margin -5% 2Q’25 Organic Sales Results 2Q'24 Price Volume Currency Divestitures 2Q'25 Auto OEM LSD and Oth
Slide 8: Strong Balance Sheet and Cash
Strong Balance Sheet and Cash Cash deployment focused on shareholder value creation 2Q’25 Activity Cash Deployed to Shareholders ($ in millions) $600 $1.6B $300MM $500 Cash Balance Dividends and Share $400 June 30, 2025 Repurchases $300 $200 $5.7B 2.1x $100 Net Debt Net Debt / Adjusted $0 June 30, 2
Slide 9: Third Quarter and Full-Year 2025 Financial Projections
Third Quarter and Full-Year 2025 Financial Projections Third Quarter 2025 Full Year 2025 Adjusted EPS $7.75 - $8.05 per share Segment organic sales (YOY %): Flat to +LSD +LSD Global Architectural Coatings -LSD to Flat -LSD to Flat Performance Coatings +LSD to +MSD +LSD to +MSD Industrial Coatings Fl
Slide 10: PPG Products and Investment Highlights
PPG Products and Investment Highlights Driving current and future organic growth Refinish Digital Ecosystem Packaging Technology Aerospace Coatings Delivering End-to-End Leading Customer Expanding Manufacturing Products, Tools and Services Conversions Capabilities Digital Integration transforms shop
Slide 11: PPG: A Compelling Long-Term Investment
PPG: A Compelling Long-Term Investment Diversified Global Portfolio Leading positions in all coatings verticals Strong Brands, Technologies and Services Organic and inorganic growth opportunities Asset-Light, Highly Flexible Cost Structure Accelerating margin expansion Strong Balance Sheet & Cash de
Slide 12: Appendix
Appendix
Slide 13: Segment Margin Reconciliation
Segment Margin Reconciliation $ in millions, except margin % 2023 2024 2025 Global Architectural Coatings FY Q1 Q2 Q3 Q4 FY Q1 Q2 Segment Margin, As Reported 16.7% 17.2% 19.7% 18.2% 13.4% 17.3% 13.8% 15.7% Net Sales $4,021 $966 $1,070 $1,004 $881 $3,921 $857 $1,018 Segment Income 673 166 211 183 118
Slide 14: Adjusted EBITDA Reconciliations
Adjusted EBITDA Reconciliations $ in millions, except margin % 2024 2025 Q1 Q2 Q3 Q4 FY Q1 Q2 FY Reported net income from continuing operations $ 405 $ 493 $ 444 $2 $ 1,344 $ 375 $ 450 $ 825 Interest expense, net of interest income 13 17 19 15 64 13 18 31 Income tax expense 128 149 128 70 475 122 14
Slide 15: Adjusted EPS Reconciliation
Adjusted EPS Reconciliation $ in millions, except EPS Total PPG Second Quarter 2025 Net Income EPS(a) Net Income from Continuing Operations, As Reported $ 450 $ 1.98 Acquisition-related amortization expense 25 0.11 Business restructuring-related costs, net(b) 15 0.07 Portfolio optimization(c) 2 0.01
Slide 16: Thank You For Your Interest In PPG
Thank You For Your Contact Information: Interest In PPG INVESTORS: Alex Lopez phone: +1 412 434 3466 email: alejandrolopez@ppg.com MEDIA: Greta Edgar Borza phone: +1 724 316 7552 email: edgar@ppg.com 16