PPG Investor Overview

PPG Investor OverviewMarch 2021

2

Notes

3

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.

Forward-looking statements are identified by

the use of the words “aim,” “believe,” “expect,”

“anticipate,” “intend,” “estimate,” “project,”

“outlook,” “forecast” and other expressions that

indicate future events and trends.

Any forward-looking statement speaks only as

of the date on which such statement is made,

and the Company undertakes no obligation to

update any forward-looking statement, whether

as a result of new information, future events or

otherwise. You are advised, however, to

consult any further disclosures we make on

related subjects in our reports to the Securities

and Exchange Commission. Also, note the

following cautionary statements:

Many factors could cause actual results to

differ materially from the Company’s forward-

looking statements.

Such factors include global economic

conditions, increasing price and product

competition by our competitors, fluctuations in

cost and availability of raw materials, the ability

to achieve selling price increases, the ability to

recover margins, customer inventory levels, our

ability to maintain favorable supplier

relationships and arrangements, the timing of

and the realization of anticipated cost savings

from restructuring and other initiatives, the

ability to identify additional cost savings

opportunities, difficulties in integrating acquired

businesses and achieving expected synergies

therefrom, economic and political conditions in

the markets we serve, the ability to penetrate

existing, developing and emerging foreign and

domestic markets, foreign exchange rates and

fluctuations in such rates, fluctuations in tax

rates, the impact of future legislation, the

impact of environmental regulations,

unexpected business disruptions, the effects on

our business resulting from the COVID-19

virus, the results of governmental

investigations and the unpredictability of

existing and possible future litigation.

However, it is not possible to predict or identify

all such factors. Consequently, while the list of

factors presented here and under Item 1A of

PPG’s 2020 Form 10-K is considered

representative, no such list should be

considered to be a complete statement of all

potential risks and uncertainties. Unlisted

factors may present significant additional

obstacles to the realization of forward-looking

statements. Consequences of material

differences in the results compared with those

anticipated in the forward-looking statements

could include, among other things, lower sales

or income, business disruption, operational

problems, financial loss, legal liability to third

parties, other factors set forth in Item 1A of

PPG’s 2020 Form 10-K and similar risks, any

of which could have a material adverse effect

on the Company’s consolidated financial

condition, results of operations or liquidity.

Forward-looking statements

4

PPG is a global maker of paints, coatings and specialty materials

Founded in 1883 Headquarters in Pittsburgh, PA

Operations in 70+ countries

Ranked 209 on the Fortune 500 in 2020

Images and videos were captured prior to the COVID-19 pandemic

5

Strategic portfolio actions

• Announced acquisitions with annual revenue of about $1.7 billion

• Expanded technological capabilities and global footprint

2020 and recent key achievements

Strong recovery and operational performance

• Record adjusted EPS* for the second half on 2020: +18% YOY

• Delivered approximately $115 million in cost savings from restructuring actions and an additional $300 million of interim savings

Cash and cash deployment

• Record ~$2.1 billion of cash generated from operations

• Quarterly per share dividend increase – 49th consecutive year (6% annual increase)

• Returned approximately $0.5 billion of cash to shareholders

• $0.5 billion for dividends

• Deployed ~$1.2 billion toward acquisitions

* See appendix for reconciliation of PPG reported to adjusted EPS

6

Business Portfolio: Rapid Recovery in 2020 Downturn

-60%

-40%

-20%

0%

20%

Industrial Segment Volume Trends

Strong demand recovery in Industrial Segment expected to continue

Resilient margins in downturn; Total Segment 2H margins similar to peak levels

16.4%

17.7%

16.9%

11%

12%

13%

14%

15%

16%

17%

18%

19%

20%

2015 2016 2017 2018 2019 2020

Reporting Segment ROS Margin Trends

Performance Segment Industrial Segment Total Segments

Performance (2H '20) Industrial (2H '20) Total (2H '20)

2H 2020

01,0002,0003,0004,0005,0006,0007,0008,0009,00010,00011,000

0.0%2.0%4.0%6.0%8.0%10.0%12.0%14.0%16.0%18.0%20.0%22.0%24.0%26.0%28.0%30.0%32.0%34.0%36.0%38.0%40.0%42.0%44.0%46.0%48.0%50.0%52.0%54.0%56.0%58.0%60.0%62.0%64.0%66.0%68.0%70.0%72.0%74.0%76.0%78.0%80.0%82.0%84.0%86.0%88.0%90.0%92.0%94.0%96.0%98.0%100.0%

2016 2017 2018 2019 2020

Total Capital

2016-2020 Average

Adjusted ROC*: ~15%

* Average of annual adjusted ROC percentages. See Appendix for reconciliations7

PPG strong financial metrics through economic cycle and pandemic

Continued strong margins

despite 10% volume decline

Strong ROC while

continuing to invest

Continued prudent cost

management

17%

16%

17% 17%

2017 2018 2019 2020

EBITDA %

EBITDA % Return on Capital SG&A

3,200

3,300

3,400

3,500

3,600

3,700

13,000

13,500

14,000

14,500

15,000

15,500

2016 2017 2018 2019 2020

Net Sales Total SG&A

8

Specialtyproducts and

solutions with key functional value

Highly

Diversifiedglobal coatings

company

Growingportfolio of

Sustainableproducts

High percentageof sales to

Aftermarketend-use markets

Strong pipeline of

Innovativeproducts

Successful acquirer of

coatings assets:

Consolidatingindustry

Many levers for profitable growth

Well positioned to deliver growth

9

A sample of PPG’s ESG priorities

Products and Processes

OurFootprint

ResourceEfficiency

Commitment to DE&I

EnhancingGovernance

2020 sales from sustainably-advantaged products and

processes

Less GHG emissions in

2020 vs. 2017 baseline

Reduction in quantity of waste disposed in 2020

vs 2017 baseline.

Zero process waste to landfill for 34% of

manufacturing and R&D locations

AAMSCI ESG

(scale AAA

to CCC)

Commitments made to enhance and further Diversity, Equity &

Inclusion – including hiring our first global

DE&I leader

35% 24% 42% 9 9

New directors have joined the board since

2015

7 of 13 directors bring diversity of race,

gender, ethnicity or culture

PPG continues to enhance its ESG reporting: 2020 Sustainability Report will fully align to the

SASB reporting framework

10

PPG provides attractive investment fundamentals

Attractive positioning (specialty chemicals)1

Global footprintand capabilities2 Innovative3

• High functional value products

• Stable earnings/cash flow

• Vast growth potential

• Customer reach across every major region

• Opportunities to expand in Asia and growth markets

• Diverse participation in all key coatings end-use markets

• Shared service centers support lower cost

• Commitment to investment; R&D spend ~3% of sales

• New product sales are approximately 24% of total sales

• On the frontier with products for electric vehicles

Cookware and bakeware Auto refinish automated painting system Electric vehicle battery pack

73

4138

20

0

20

40

60

80

PPG Competitor 1 Competitor 2 Competitor 3

11

PPG – Demonstrated History of Innovation

Award Year Recognition

Yearly 9 wins since 2016

2020PR-2930 High Strength

Adhesive

2019B1:B2™ Compact Paint

System

PPG is a leading developer of coatings advantaged technology

PPG has a foundation of scalable, innovative

market-aligned products to build upon for growth

US Coatings Patents: 5 year Average PPG Innovation Awards

FunctionalityApplicationEnvironmentalCustomer

ExperienceFunctionality

Innovation Levers

Overspray Free Paint Application

12

Innovation levers at PPG

LIQUID NAILS®

Fuze*It®

Adhesive

Premium Compact

Process Primer

Powercron® 160 Anodic Epoxy

Electrocoat

PPG Clean Surface

Technology™

Driving innovation across all aspects of coatings technology

2017 2017 2019 2020 2020

2019

PPG is a recognized leader of Innovation

PPG TECHNOLOGIES Corrosion & Impact Protection

Thermal Conductive Fillers Dielectric Protection

Adhesives & Sealants Battery Fire Protection

Supporting Improved Battery Performance

• Increased driving range

• Higher energy-density batteries

• Reduced cost of battery production

• Support improved ESG through the supply chain

Glo

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13

Global Light Vehicle Production Shift to EV Creates Growth Opportunity

Expect 7 - 10 million EV’s by 2025 & 25 million by 2030

Stated 2025 Regional Electric Vehicle Targets

Global ICE *Global EV EV share

*Global EV = Combined Global BEV and Global PHEV Source: Deloitte analysis, IHS Markit, EV-Volumes.com

2

3

4

5

1

1

2

3

4

52

Outlook for Annual Global Vehicle Sales

CHINA 20%EUROPE 25%

Higher PPG product content per vehicle

10-Year Cash Use Summary:

Grow Business ~50%

Return to Shareholders ~50%

19%

30%

18%

33%

Past 10Years (~$23B)(2011 – 2020)

Approximate2020

Cash Uses

Legacy of consistent and prudent cash deployment

* $ in millions – As reported, not adjusted for business divestitures14

Balanced cash deployment

Capital Spending

Acquisitions*

Dividends

Share Repurchases

$500$300

$1,200

15

Acquisitions contribute to sales growth

$0

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

+3% average sales growth

from acquisitions

Acquisitions supplement organic growth

Acquisition SalesGrowth Over Prior Year

(USD MM)2013:

North America

Partial years

2014/5:

Notable Acquisitions:

2020:

Date of Announcement November 30, 2020 December 18, 2020 January 5, 2021 January 11, 2021

Estimated Date of Closing Completed December 2020 ~ 1H 2021 Completed February 2021 ~1H 2021

Estimated Annual Revenue ~$600MM ~$700MM ~$70MM ~$260MM

Key Attributes

Geographic Expansion

Product Line Extension

Complimentary Technology

ESG Benefits

Other key factorsMobility / infrastructure

opportunities

Strong regional presence and

distribution

Additional end-use market

opportunities

Waterborne OEM specs and

qualifications

16

Overview of Recently Announced Acquisitions

Other

Global paint andcoatings industry (~$140B)

17

Strong fundamentals

• Stable earnings/cash

• Growth potential

• Low capital intensity

• Technology and service

• Consolidating industryCompetitiveLandscape

Source: IPPIC, Company Annual Reports, PPG estimates

PPG has completed 27 strategic acquisitions since the beginning of 2015

PPG opportunities to expandin Asia and globally

Source: IPPIC18

Coatings

geographic mix

Coatings Industry Geographic Sales Mix

PPG Coatings Geographic Net Sales Mix

18%

30%45%

7%

41%

31%

18%

10%

PPG data is for full year 2020

U.S and Canada (USCA)

Latin America(LA)

Europe, Middle Eastand Africa (EMEA)

Asia-Pacific(AP)

PPG is in line with the global coatings

industry end-use mix

15%

38%

28%

19%

PPG Coatings End-Use

Net Sales Mix

29%

41%

14%

16%

Source: IPPIC, Company Annual Reports, PPG estimates19

Coatings end-uses

Industry End Use Demand(~$140B Sales

Value)

Architectural GeneralIndustrial

AutomotiveOEM

Refinish / Collision

Protective& Marine

Packaging Aerospace

PPG data is for full year 2020

Meaningful presence No Current Meaningful Presence

Source: IPPIC; company annual reports, PPG estimates20

PPG global end-use positionsPositionby CoatingsVertical

PPG growth opportunity: To be #1 or #2 in every country/vertical

Global Position

Architectural GeneralIndustrial

Protective& Marine

AutomotiveOEM

Refinish / Collision

Packaging Aerospace

PPG #2 #2 #3 #3 #1 #2 #2 #1

Sherwin-Williams #1

AkzoNobel #3

Nippon #4

RPM #5

Axalta #6

BASF #7

21

PPG reporting segments drive our business

~60%

~40%

Performance Coatings

Industrial Coatings

Aerospace Coatings

Architectural Coatings*

Automotive Refinish Coatings

Protective & Marine Coatings

Traffic Solutions

Automotive OEM Coatings

Industrial Coatings

Packaging Coatings

Specialty Coatings & Materials

* Includes Architectural Coatings (Americas and Asia Pacific) and Architectural Coatings (Europe, Middle East and Africa)

PPG’s business portfolio demonstrated its resiliency during the pandemic with swift recovery of

operating margins and record adjusted earnings per share in the second half of the year

* Includes Architectural Coatings (Americas and Asia Pacific) and Architectural Coatings (Europe, Middle East and Africa)

** Includes acquisitions and excludes currency impact22

Performance Coatings segment

$8.8$8.6

$8.7

$9.1 $9.0

$8.5

14.9%15.4%

15.0%

14.3%

15.6%16.0%

'15 '16 '17 '18 '19 '20

43% 34% 12% 11%

Net Sales with ROS ($ Billions) 2020 Net Sales by Geography

Segment traits

• Distribution focus

• After-market and maintenance component

• Consistent cash generation

• Stable industries

• Entered Traffic Solutions market

EMEA AP LAUSCA

Aerospace ArchitecturalCoatings*

Automotive Refinish Coatings

Protective and Marine Coatings

’15-’19 CAGR**: ~+2% ’19-’20**: -5%

'17 '18 '19 '20

'15 '16 '17 '18 '19 '20

Net Sales 2020 Net Sales by Geography

23

Automotive Refinish

Key Industry Trends

• Color complexity

• Emerging region growth

• Continuing technology shift to waterborne

• Value added programs and training

• Growth of advanced driver-assistance systems

• Moonwalk deployment beginning

PPG Global Waterborne Paint Shops3-Year

CAGR ~ 3%

* Includes acquisitions and excludes currency impact

USCA EMEA AP LA

’15-’19 CAGR*: +2% ’19-’20*: -14%

* Includes acquisitions and excludes currency impact24

Aerospace

Key Industry Trends

• Airlines adjusting fleet mix for longer term demand outlook

• Single aisle aircraft driving future growth

• Expect leisure travel to recover quickly

• Military demand remains robust

• Drive for faster manufacturing cycle times and environmentally sustainable products

Net Sales Mix

50%50%

30%

70%

Aftermarket

OEM Military

Commercial

'15 '16 '17 '18 '19 '20


USCA EMEA AP’15-’19 CAGR*: ~+8% ’19-’20*: -22%

(2019: pre-COVID)

'15 '16 '17 '18 '19 '20

USCA EMEA AP LA

* Includes acquisitions and excludes currency impact25

PPG Net Sales Mix

2020 Net Sales by GeographyNet Sales

Protective & Marine Coatings (PMC)

Protective Coatings

Protective Coatings

Marine Aftermarket

Marine Aftermarket

Marine New Build

Marine New Build

0%

20%

40%

60%

80%

100%

2009 2020

Key Industry End Uses

• Infrastructure ($4.0B)

• Energy ($3.8B)

• Marine Aftermarket ($2.5B)

• Industrial Maintenance ($1.9B)

• Marine OEM ($1.1B)

’15-’19 CAGR*: ~+4% ’19-’20*: -6%

'15 '16 '17 '18 '19 '20

26

Strong Local Architectural BrandsPPG Net Sales Mix

Region Stores

USCA ~850

LA ~5,000***

AP ~50

EMEA ~700

Region Company Stores Ind. Dealers National Retailers

USCA 45% 20% 35%

LA 2% 89% 9%

AP 12% 38% 50%

EMEA 46% 28% 24%

Worldwide 40% 35% 25%

Original slide. Will be reformatted.

* Architectural Americas & Asia-Pacific and Architectural EMEA strategic business units

** Includes acquisitions and excludes currency impact

*** Latin America “stores” are mostly concessionaire locations in Mexico and Central America


Architectural Coatings*

USCA EMEA AP LA

’15-’19 CAGR**: 0% ’19-’20**: ~+3%

27

Architectural Coatings is diversified globally and well positioned

Region Strength / Focus Brands

U.S. and Canada

• Services / Delivery • Digitalization• Organic Growth in Trade & DIY

EMEA

• Strong local brands • One of the leading positions

in most countries• Optimize footprint

LatinAmerica

• Strong brand recognition • Concessionaire model• Expansion in B2B market

Asia-Pacific• Strong brand in ANZ• Regional participation in China

PPG’s local brands provide opportunities for growth

28

Industrial Coatings segment


AutomotiveOEM

IndustrialCoatings

PackagingCoatings


Segment traits

• Technology-advantaged products

• Mix of global and local customers

• High quality product performance

• Global customer footprint

38% 27% 26% 9%

Net Sales with ROS ($ Billions) 2020 Net Sales by Geography

EMEA AP LAUSCA

$5.5$5.7

$6.0$6.3 $6.1

$5.3

18.0% 18.6%16.3%

13.0% 14.1% 14.0%

'15 '16 '17 '18 '19 '20

’15-’19 CAGR*: ~+4% ’19-’20*: -12%

'15 '16 '17 '18 '19 '20

USCA EMEA AP LA

'15 '16 '17 '18 '19 '20

2019 Net Sales by Geography

29

Customer MixKey Industry TrendsGlobal Auto OEM Production

All Remaining Customers

U.S. Based

Non-U.S.

Based

Top 7 PPG Automotive Customers


Net Sales

Automotive OEM


’15-’19 CAGR*: 0% ’19-’20*: -15%

’15-’19 CAGR: -1% ’19-’20: -17%

'15 '16 '17 '18 '19 '20

'15 '16 '17 '18 '19 '20

Net Sales

30

Industrial Coatings

Asia Net SalesKey Industry End Uses



USCA EMEA AP LA

• Heavy-duty Equipment

• Appliances

• Electronic Materials

• Coil

• Automotive Accessories

• Transportation

• Office Furniture

• Cookware

’15-’19 CAGR*: ~+10% ’19-’20*: -9%

’15-’19 CAGR*: 7% ’19-’20*: 1%

'15 '16 '17 '18 '19 '20

Net Sales

31

Packaging Coatings

Metal Packaging Industry Segments

Key Industry Trends

• Global investments in new metal can capacity

• Metal packaging industry growth driven by sustainability, performance and safety

• Conversion to non-BPA technology continues globally

• Can makers drive toward complexity reduction in coatings portfolio to improve productivity



USCA EMEA AP LA

Beverage

FoodPersonal

Care

Other

’15-’19 CAGR*: ~+3% ’19-’20*: 0%

'15 '16 '17 '18 '19 '20

Net Sales

32


Beverage

Silica

Teslin

Optical Monomers and Dyes

OLED materials

Key Industry Trends

• 2020 sales decline driven by Silicas and Teslin

• Rapid conversions in mobile, TV, laptops and wearables to OLED technology

• Growth in large diameter tires and increased silica loading for improved performance and fuel efficiency

• Growth in secure credentials and RFID shielding technologies

Net

Sales Mix



USCA EMEA AP’15-’19 CAGR*: 1% ’19-’20*: -23%

Resins and Latex

Titanium Dioxide

Solvents and Pigments

Additives

ManufacturingPackaging

Distribution - Final

Source: PPG and industry estimates – figures vary greatly by end-use and application33

Coatings cost comparisonRaw material basket and manufacturing/distribution costs are different

Average Architectural Coatings

Average Industrial Coatings

Resins and Latex

Titanium Dioxide

Solvents and Pigments

Additives

Manufacturing

Packaging

Distribution -

Intermediate

Distribution - Final

Sold in 1-gallon paint cans and

5-gallon buckets

Sold in 2,000-liter

totes

PPG EMEA Net SalesMix (€MM) Architectural Coatings EMEA

Margin History

Improving margins through economic downturn

34

Total PPG Europe, Middle East & Africa

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

'14 '15 '16 '17 '18 '19 '20

Architectural Coatings EMEA Other PPG Businesses

4%

6%

8%

10%

12%

14%

16%

2008 2010 2012 2014 2016 2018 2020

’14-’19 CAGR*: 3% ’19-’20*: -7%


2,516 2,433 2,431 2,523 2,618 2,542 2,431

'14 '15 '16 '17 '18 '19 '20

318 359 382 361

306 342 382

'14 '15 '16 '17 '18 '19 '20

PPG Asia Pacific financials

$MM - USD

Consolidated Net Sales

Segment Income$MM - USD

35

2020 net sales impacted by COVID-19 income and margin back to peak levels

NipponAkzo

PPG

Asian PaintsKansai

KCC

S-W

Jotun

Berger

Axalta

BASF

SKSHUTOA

HempelChugoku

Carpoly

Others

#~14,000 players

* PPG estimates

** PPG ‘15-’20 CAGR excludes currency impact36

Strong and growing Asia-Pacific presence (excl. Japan)

Performance

Industrial

Broad, full range coatings business portfolio

PPG MarketPosition

PPG ’15- ’20CAGR**

Automotive OEM #1 -2%

General Industrial #2 7%

Packaging #1 -1%

Auto Refinish #1 0%

Aerospace #1 3%

Protective/Marine #4 3%

Architectural #7 4%

Total Coatings #3 2%

63%

14%

13%

6% 4%

Industry Coatings Demand in Asia* PPG Asia Net Sales Mix (2020)

Coatings Industry in Asia remains fragmented* Many leading Asian markets (excl. Japan)*

ChinaIndia

SE Asia

KoreaANZ

$1.8 $1.8 $1.8 $1.2

$1.6 $1.5

$2.1 $2.1

'13 '14 '15 '16 '17 '18 '19 '20

Adj

uste

d +

Robust cash generation over time while transforming the business portfolio

$1.7

$1.2

$1.5

$1.9

$1.5

$1.0

$1.3

$1.9

'13 '14 '15 '16 '17 '18 '19 '20

$ Billions USD

* As originally reported, not adjusted for business divestitures

+ Adjusted Cash from Operations; excluding cash paid to fund the Pittsburgh Corning asbestos trust 37

PPG cash trends

Cash From Operations* Approximate Cash and Short-Term Investments

$ Billions USD

38

• A leading global manufacturer of

pavement marking products –

leading position in the U.S.

• 22 manufacturing facilities

and ~1,000 employees

• Resilient demand: non-discretionary

and essential maintenance spending

• Global total addressable sales

~$2.5 billion

• New PPG business unit –

Traffic Solutions

• Included in Performance

Coatings reportable segment

PPG Traffic Solutions (Ennis-Flint) overview

$0.00

$0.40

$0.80

$1.20

$1.60

$2.00

$2.40

'80 '85 '90 '95 '00 '05 '10 '15 '20

$0

$400

$800

$1,200

$1,600

'11 '12 '13 '14 '15 '16 '17 '18 '19 '20

Long-Term Debt Maturity Schedule$ in millions

13%

7%

3%3%

2% 2% 3%4%

3% 3% 2%

1980 || 1990 || '04 '06 '08 '10 '12 '14 '16 '18 '20

Last 5 years

Average = ~3.0%

PPG Share Repurchases$ in millions

Average ~$740MM

Average ~$715MM

39

PPG financial hallmarks

Last 3 years = 7%

Capital Spending as % of Sales

(As originally reported, not adjusted for business divestitures)

49 Years of Increased DividendsDividends per share – Adjusted for stock splits

0

200

400

600

800

1000

'21 '22 '23 '24 '25 '27 '28 '29 '30 '38 '40 '44

EUR Notes

USD Notes

Additional materials and appendix

PPG EBITDA Reconciliation

2020 2019 2018 2017

Currency USD USD USD USD

Sales 13,834 15,146 15,374 14,748

Income before taxes 1,362 1,661 1,693 2,005

Unusual or Infrequent Charges 406 312 189 20

Interest, net 115 100 95 85

Depreciation & Amortization 509 511 497 460

EBITDA, adjusted 2,392 2,584 2,474 2,570

% of Sales 17% 17% 16% 17%

EBITDA as % of Sales (excluding specials):

41

- Amounts in millions, except percentages, reflects most recent year-end from continuing operations. Compiled from publicly available segment disclosures.

- For all years presented, PPG results from continuing operations, as disclosed in the most recent 10-K and Annual Report.

PPG Adjusted Return on Capital Reconciliation

(in millions, except percentages)2020** 2019** 2018** 2017** 2016**

Currency USD USD USD USD USD

Net Earnings as Reported 1,056 1,243 1,323 1,369 543

Total Net Adjustments, after-tax 297 237 126 142 956

Adjusted Net Earnings 1,353 1,480 1,449 1,511 1,499

Net Interest Expense, after-tax* 109 100 92 80 94

Adjusted Net Earnings + Net Interest Expense 1,462 1,580 1,541 1,591 1,593

Capital (Average Debt & Average Equity) as Reported 10,887 9,991 9,675 9,473 9,334

Net Adjustments (see above) 297 237 126 142 956

Adjusted Average Capital 11,118 10,460 10,048 9,908 9,841

Adjusted Return on Capital 13.2% 15.1% 15.3% 16.1% 16.1%

Sources for Summary of Net Adjustments:

Net income impact of certain items as disclosed in the 2017- 2020 Form 10-K’s.

* Tax impact calculated using the effective tax rate as disclosed in the 2017-2020 Form 10-K.

** Does not foot due to the rounding effect of net adjustments.

42

PPG Reported and Adjusted EPS

Sources for Summary of Net Adjustments:

Adjusted net income calculated from certain items as disclosed in 3rd and 4th Quarter 2020 Regulation G Reconciliation.

(a) Earnings per diluted share is calculated based on unrounded numbers. Figures in the table may not recalculate due to rounding.

(b) Impairment charges were recorded in the fourth quarter 2020 related to the planned sale of certain smaller entities in non-strategic regions and for certain asset write-downs. The revenue of the entities to be sold represents less than 1% of PPG annual net sales. Net income of $64 million is attributable to PPG and net income of $4 million is attributable to noncontrolling interests.

(c) Included in business restructuring-related costs, net are business restructuring charges, accelerated depreciation of certain assets and other related costs, offset by releases to previously approved programs.

(d) In the second half of 2020, Hurricanes Laura and Delta damaged a southern U.S. factory that supports the Company's specialty coatings and materials business.

$ in millions, except EPS

Second Half

2020

Second Half

2019

Net Income EPS(a) Net Income EPS(a)

Reported net income from continuing operations $ 714 $ 3.00 $ 661 $ 2.77

Impairment charges(b) 64 0.27 — —

Business restructuring-related costs, net(c) 28 0.12 28 0.12

Expenses incurred due to natural disasters(d) 13 0.06 — —

Environmental remediation charges 10 0.04 16 0.07

Acquisition-related costs 7 0.03 — —

Litigation matters, net — — 4 0.02

Adjusted net income from continuing operations, excluding certain items $ 836 $ 3.52 $ 709 $ 2.98

43

PPG Investor Overview

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