Ppg Industries, Inc. · NYSE:PPG
Ppg Industries — Investor Presentation (August 2026)
50 slides from Ppg Industries's investor presentation, August 2026
Slide 1: PPG Investor Overview
PPG Investor Overview August 2026
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: Content Overview
Content Overview 1 2 3 4 PPG Overview, PPG Segment Innovation and Appendix Competitive and Business Sustainability Advantages and Unit Highlights Driving Growth Growth Opportunities 3
Slide 4: Key Drivers That Make PPG a High-Quality Industrial Company
Key Drivers That Make PPG a High-Quality Industrial Company Strategy Execution Delivering higher growth and margins, driving market share gains and expanding addressable markets Strategic Investment Focusing on our differentiated businesses such as Aerospace to accelerate revenue and profit growth I
Slide 5: PPG: Industry Leading Global Coatings Company
PPG: Industry Leading Global Coatings Company 1883 Founded 2025 Net Sales: $15.9B Sell in ~25% ~35% ~40% 50+ Countries Global Architectural Performance Industrial Coatings Coatings Coatings 54 Years Consecutive Architectural EMEA Aerospace Automotive OEM Dividend Increases Architectural 17% LATAM &
Slide 6: Full-Year 2025 Accomplishments
Full-Year 2025 Accomplishments Four consecutive quarters of higher sales volumes and selling prices; returned $1.4B to shareholders Net Sales $15.9B Organic Sales Adjusted EPS +2% $7.58 Operating Cash Flow Total Adjusted EBITDA Margin $1.9B Free Cash 17% +$0.5B YOY Flow Yield Dividends +5% ~$630MM S
Slide 7: PPG: A Compelling Long-Term Investment
PPG: A Compelling Long-Term Investment Delivering core technologies and Unique, Well Positioned Portfolio productivity solutions to our customers Strong Brands, Technologies and Services Organic and inorganic growth opportunities Asset-Light, Highly Flexible Cost Structure Accelerating margin expans
Slide 8: PPG Well Situated for Volume Recovery
PPG Well Situated for Volume Recovery Market Segments Regions PPG #1 #2 #3+ Position Aero Auto Auto US Traffic Packaging General Architectural Protective & U.S. & EMEA LA AP OEM Refinish Solutions Industrial Marine Canada Addressable Market Size $5B $15B $11B $1B $3B $40B $90B $25B $38B $55B $15B $8
Slide 9: PPG is Positioned Well in Global End-use Markets
PPG is Positioned Well in Global End-use Markets Position by Vertical Global Architectural Protective Traffic Industrial Auto OEM Auto Refinish Packaging Aerospace Position EMEA LA AP & Marine Solutions PPG #2 #2 #1 #3+ #3+ #3+ #1 #1 #2 #1 #1 Sherwin- #1 Williams AkzoNobel #3 Nippon #4 RPM #5 Axalta
Slide 10: Macro Trends Support PPG's Long-Term Growth
Macro Trends Support PPG’s Long-Term Growth European Savings Rate Passenger Aircraft Delivery Industrial Production Household Savings as % of Income # of Aircraft % Change YOY 2016-2019 2016-2019 Avg. Avg. European discretionary spending PPG is well positioned for multi-year Global 3-Yr CAGR of 2% e
Slide 11: Strong and Growing Presence in Emerging Regions
Strong and Growing Presence in Emerging Regions Latin America Industry CAGR 2025-2028 #1 5,200 Architectural Coatings +MSD Mexican Paint Stores Auto OEM Coatings +MSD Company +45% Since 2014 Acquisition Industrial Coatings +MSD 6% 4% Protective & Marine Coatings +MSD Organic sales Mexico Industry CA
Slide 12: Strong and Growing Presence in Emerging Regions
Strong and Growing Presence in Emerging Regions Asia Pacific Industry CAGR 2025-2028 PPG Position in Asia Pacific1 Aerospace +MSD Automotive OEM #1 General Industrial #2 Packaging Coatings +MSD Packaging #1 Auto Refinish #1 Auto OEM Coatings +LSD Aerospace #1 Protective/Marine #3 Refinish Coatings +
Slide 13: PPG Expects to Drive Further Margin Expansion
PPG Expects to Drive Further Margin Expansion Actions in place to accelerate segment margin expansion and achieve 8-12% 4-yr EPS CAGR Drivers 1 Price / cost normalization 2 Volume growth at high leverage with no additional fixed cost 3 Operational improvement of $120MM in 2025; ~$50MM in 2026 to off
Slide 14: Strong Balance Sheet and Cash
Strong Balance Sheet and Cash Cash deployment focused on shareholder value creation 2025 Activity Cash Deployed to Shareholders ($ in millions) $1,500 $2.2B $1.4B $1,200 Cash Balance Dividends and Share December 31, 2025 Repurchases $900 $600 $300 $5.1B 1.9x Net Debt Net Debt / Adjusted $0 December
Slide 15: Balanced Cash Deployment
Balanced Cash Deployment Legacy of consistent, accretive and prudent cash deployment Cash Deployed $6B $10B Return to 20% 30% Shareholders 60% 50% 30% 30% 20% <5% Grow the Business 35% 40% 50% 30% 3 Years 5 Years 2023-2025 2021-2025 Capital Spending Acquisitions Dividends Share Repurchases 15 Note:
Slide 16: Returning Cash to Shareholders
Returning Cash to Shareholders Long Heritage of Dividend Growth PPG Annual Dividend ($ per share) $2.66 $2.78 $2.54 $2.42 $2.10 $2.26 54 Years of Consecutive Annual Dividend Increases 2020 2021 2022 2023 2024 2025 PPG Share Repurchases 126 Years of Uninterrupted Annual Dividends ($ in millions) $750
Slide 17: Investing to Accelerate Growth
Investing to Accelerate Growth Transitory increase in capital spending driven by aerospace capacity additions Capital Spending as Percentage of Net Sales Near-Term Capital Investment 2025 - 2026 1.1% • Expansion focused on profitable growth 1.2% • Aerospace 0.3% 0.5% • Mexico 3.8% • Digital / AI 2.7
Slide 18: PPG Debt Maturity Profile – December 2025
PPG Debt Maturity Profile – December 20251 $ in millions 2.9% $2,500 Weighted Average $2,000 Cost of Debt Dec 31, 2025 1,233 $1,500 $2.3B $1,000 Available Revolver Currently Undrawn 916 $500 1,057 700 705 800 700 $0 300 300 59 176 250 141 1.9x 2026 2027 2028 2029 2030 2031 2032 2037 2038 2040 2044 N
Slide 19: Content Overview
Content Overview 1 2 3 4 PPG Overview, PPG Segment Innovation and Appendix Competitive and Business Sustainability Advantages and Unit Highlights Driving Growth Growth Opportunities 19
Slide 20: 2025 Net Sales Bridge and Currency Exposure
2025 Net Sales Bridge and 2025 Net Sales Currency Exposure 14% LA 34% 18% US & AP Canada Net Sales 1% 1% 34% $15.8B $15.9B EMEA -2% PPG Currency Exposure % of 2025 Net Sales U.S. Dollar ~35% Euro ~20% Mexican Peso ~10% Chinese Yuan ~10% British Pound ~5% 2024 Price Volume Currency and 2025 Divestitu
Slide 21: Diversified Portfolio of Innovative Solutions and Leading Brands
Diversified Portfolio of Innovative Solutions and Leading Brands Delivered 2% organic growth in 2025 driven by PPG’s unique Aerospace business Automotive Refinish Performance Architectural Architectural Coatings Coatings Coatings Coatings EMEA ~13% 2025 2025 ~15% Organic sales Organic sales Aerospac
Slide 22: Segment Drivers
Segment Drivers Growth enablers 2025 Segment EBITDA Global Architectural Coatings • Leading and trusted brands with world-class distribution networks • Strong #1 or #2 in >15 countries $0.7B • Advanced water-based product portfolio and low-carbon product offerings • Excellent digital solutions and c
Slide 23: Global Architectural Coatings Segment
Global Architectural Coatings Segment • Leading and trusted brands with world-class distribution networks • Strong #1 or #2 in >15 countries • Advanced water-based product portfolio with low-carbon offerings • Excellent digital solutions and customer service • Consistent cash generation with majorit
Slide 24: Architectural Coatings
Architectural Coatings Industry Est. Size1 2025 Global Coatings ~$90B Industry Trends PPG Competitive Advantages Growth Drivers Increasing adoption of digital Excellent digital solutions and Building omnichannel consumer journey and tools / e-commerce customer service digitizing color inspiration Le
Slide 25: Architectural Coatings is Diversified with Global Positions
Architectural Coatings is Diversified with Global Positions PPG’s local brands provide opportunities for growth 2025 Architectural Strength / Focus Net Sales • Strong local brands 61% • Leading positions in many countries • Best-in-class sustainability offerings EMEA • Leading brand recognition 34%
Slide 26: Performance Coatings Segment
Performance Coatings Segment • Highly-specified and sustainably advantaged products and services • Significant value proposition due to customer productivity improvement • Digital technology offerings driving increased customer connectivity • Distribution network to rapidly supply global and local m
Slide 27: Aerospace
Aerospace Industry Est. Size1 2025 Global ~$5B Industry Trends PPG Competitive Advantages Growth Drivers Recovery of international travel Advantaged technology and global footprint Investment in facility expansion Commercial aircraft demand Industry leader in tailoring products to Completing qualifi
Slide 28: PPG's Position of Strength Poised to Support Long-Term Aerospace Growth
PPG’s Position of Strength Poised to Support Long-Term Aerospace Growth 2025 PPG Sales Mix Industry Aftermarket Revenue Highly correlated with air traffic demand General Aviation OEM 200% 150% Military Commercial Aftermarket 100% Aftermarket Sales 50% 2026-2029 CAGR +7% 0% 2019 2021 2023 2025E 2027E
Slide 29: PPG Aerospace: a Leader in Transparencies, Sealants and Coatings
PPG Aerospace: a Leader in Transparencies, Sealants and Coatings Diverse portfolio driving sustainable organic growth Select Competitors PPG 1 2 3 4 5 6 7 8 9 10 Sealants & Service & Adhesives; Materials Coatings Transparencies PPG Competitors Sealants & Aerospace with more limited scope Adhesives P
Slide 30: Automotive Refinish Coatings
Automotive Refinish Coatings Industry Est. Size1 2025 Global ~$11B Industry Trends PPG Competitive Advantages Growth Drivers PPG’s Platinum program, digital and service Premium growth through recent Body shop efficiency offerings such as MoonWalkTM and LINQTM MSO wins Leading products and positions
Slide 31: Protective & Marine Coatings
Protective & Marine Coatings Industry Est. Size1 2025 PPG Sales Mix 2025 Global Coatings Marine Coatings ~$25B Protective Coatings Industry Trends PPG Competitive Advantages Growth Drivers Significant infrastructure Share gains in the Middle Global footprint with a comprehensive portfolio investment
Slide 32: Traffic Solutions
Traffic Solutions Industry Est. Size1 2025 Americas Coatings Traffic Paint Thermoplastic Markers ~$1B Preformed Thermoplastic Industry Trends PPG Competitive Advantages Growth Drivers Safety and improved visibility for R&D expertise, broad product portfolio Raised pavement markers and differentiated
Slide 33: Industrial Coatings Segment
Industrial Coatings Segment • Technology-advantaged, globally-specified products for B2B customers • Paint integrated within customer’s operations driving productivity • Excellent technical and field service supporting bespoke customer needs • Sustainable products and applications supporting custome
Slide 34: Automotive OEM Coatings
Automotive OEM Coatings Industry Est. Size1 2025 Global Coatings ~$15B Industry Trends PPG Competitive Advantages Growth Drivers Transition to electric Broad battery pack coatings portfolio to improve vehicles / mobility safety, durability, and thermal management Gaining share on new models AI and m
Slide 35: Industrial Coatings
Industrial Coatings Industry Est. Size1 2025 Global Coatings ~$40B Industry Trends PPG Competitive Advantages Growth Drivers Strong organization driving customer Improved coating performance Differentiated service levels productivity through superior service Sustainable coatings Global leader in wat
Slide 36: Packaging Coatings
Packaging Coatings Industry Est. Size1 2025 Global Coatings ~$3B Industry Trends PPG Competitive Advantages Growth Drivers Local regulations and sustainability Strong R&D organization; PPG products that Growing share in food packaging driving coating composition exceed international food contact reg
Slide 37: Content Overview
Content Overview 1 2 3 4 PPG Overview, PPG Segment Innovation and Appendix Competitive and Business Sustainability Advantages and Unit Highlights Driving Growth Growth Opportunities 37
Slide 38: How we create value
How we create value Growth Accelerators Our Purpose: We protect and beautify the world® Commercial Operational Innovation Excellence Excellence Excellence Sustainability Customers Activators Communities Our Vision: Sustainability is integral to how The first-choice partner to meet we innovate, opera
Slide 39: PPG 2030 Sustainability Targets
PPG 2030 Sustainability Targets Enablers of PPG Growth Strategy 50% 50% 15% 25% 5% 100% sales from sustainably reduction in absolute reduction in water reduction in annual reduction in of employees go home advantaged products scope 1 and 2 greenhouse intensity at priority sites* waste intensity* spi
Slide 40: In 2025, PPG Continued Making Sustainability Progress
In 2025, PPG Continued Making Sustainability Progress Continued progress towards our 2030 goals Sustainably advantaged product sales as % of total product sales 29% 43% 50% reduction in water intensity at priority sites* Scope 1 and 2 GHG emissions reduction 2019 Baseline 100% of employees go home
Slide 41: Governance: Framework for Board Oversight of Sustainability
Governance: Framework for Board Oversight of Sustainability Environmental Social Governance Sustainability and Nominating and Innovation Committee PPG Board Governance Committee of Directors Employee health and safety Corporate governance oversight Environmental programs Recommending new directors a
Slide 42: Appendix
Appendix
Slide 43: PPG SG&A % of Net Sales Below Peer Average
PPG SG&A % of Net Sales Below Peer Average Cost savings and focused initiatives will support improved operating leverage as volumes recover SG&A % of Net Sales 35% Key initiatives • Execute restructuring plans 30% • Reduce global cost structure with focus on reducing spend in slower-growth regions 2
Slide 44: Raw Material Coatings Cost Comparison
Raw Material Coatings Cost Comparison Spend averages about 65% of cost of goods sold Global Architectural Performance Coatings Industrial Coatings Coatings Sold in 1-gallon Sold in paint cans and 2,000-liter 5-gallon buckets totes Titanium Dioxide Resins and Latex Solvents and Pigments Additives Pac
Slide 45: Segment Margin Reconciliation
Segment Margin Reconciliation $ in millions, except margin % 2024 2025 Global Architectural Coatings FY Q1 Q2 Q3 Q4 FY Segment Margin, As Reported 17.3% 13.8% 15.7% 18.2% 14.4% 15.6% Net Sales $3,921 $857 $1,018 $1,012 $951 $3,838 Segment Income 678 118 160 184 137 599 Depreciation and Amortization
Slide 46: Segment Volume and Price Variance Year Over Year
Segment Volume and Price Variance Year Over Year 2023 2024 2025 Global Architectural Coatings Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Volume Variance -6% -8% 0% -4% -5% -6% 0% -2% -2% -2% -3% -2% -2% 0% -2% Price Variance 10% 8% 4% 2% 6% 1% 1% 0% 0% 1% 1% 1% 2% 2% 2% Total PPG Organic Sales Var
Slide 47: Adjusted EPS Reconciliation
Adjusted EPS Reconciliation $ in millions, except EPS Total PPG Full year 2025 Net Income EPS(a) Net Income from Continuing Operations, As Reported $ 1,571 $ 6.92 Acquisition-related amortization expense 94 0.41 Business restructuring-related costs, net(b) 40 0.18 Portfolio optimization(c) (2) (0.01
Slide 48: Adjusted EBITDA Reconciliations
Adjusted EBITDA Reconciliations $ in millions, except margin % 2025 2026 Q1 Q2 Q3 Q4 FY Q1 Reported net income from continuing operations $ 375 $ 450 $ 444 $302 $1,571 $ 382 Interest expense, net of interest income 13 18 23 34 88 24 Income tax expense 122 140 118 78 458 132 Depreciation 89 91 94 99
Slide 49: Free Cash Flow Yield Reconciliation
Free Cash Flow Yield Reconciliation $ in millions, except share price and yield % 2025 Cash from operating activities - continuing operations $ 1,936 Capital expenditures (778) Free cash flow $ 1,158 Adjusted weighted average common shares outstanding (millions) 227.1 Share price Dec. 31, 2025 $102.
Slide 50: We protect and beautify the world
We protect and beautify the world®