#1Coleton PPG employees transform 36 schools worldwide in July and August PPG INNOVEL® PRO coating launches PPG Innovel PRO Third Quarter 2022 Financial Results Michael H. McGarry, Chairman and CEO Tim M. Knavish, COO Vince J. Morales, CFO John Bruno, VP Investor Relations All content within is proprietary to PPG. Information current as of October 19, 2022. Investment to double powder coatings capacity in San Juan del Rio PPG We protect and beautify the world®#2Forward-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. 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 statements related to the expected effects on our business of COVID-19, global economic conditions, geopolitical issues in Europe, increasing price and product competition by our competitors, fluctuations in cost and availability of raw materials, energy, labor and logistics, the ability to achieve selling price increases, the ability to recover margins, customer inventory production 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, the timing and expected benefits of our acquisitions, 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 unpredictability of existing and possible future litigation, including asbestos litigation and governmental investigations. 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 2021 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 earnings, business disruption, operational problems, financial loss, legal liability to third parties, other factors set forth in Item 1A of PPG's 2021 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. All of this information speaks only as of October 19, 2022, and any distribution of this presentation after that date is not intended and will not be construed as updating or confirming such information. PPG undertakes no obligation to update any forward-looking statement, except as otherwise required by applicable law. 2#33 Third Quarter 2022 Financial Highlights Net sales up 2% Adjusted earnings per diluted share* of $1.66 • • • • • • Selling prices +12% (~18% 2-year stack); foreign currency -6% Sales volumes decreased 3%; slowing demand in Europe & China Order backlogs continue ~$200 million: aerospace & auto refinish Raw material cost inflation persists: ~40% 2-year stack Selling price fully offset total cost inflation in the third quarter Unfavorable foreign currency translation ~$30 million Acquisition synergies & cost actions delivered ~$25 million savings Sequential lower net debt ~$400 million Cash deployment and liquidity • • Operating cash flow of ~$500 million Cash of $1.1 billion at quarter-end / solid liquidity continues Comparisons are year-over-year, unless otherwise indicated. *Adjusted EPS (from continuing operations) see presentation appendix for reconciliation to reported EPS Cash includes cash and cash equivalents, and short-term investments#4PPG Third Quarter Net Sales ($ in millions) +12% $5,000 $4,500 4,372 $4,000 3Q'21 4 * -3% -6% -1% 4,468 Price Volume Currency Divestitures and Russia wind down 3Q'22 PPG Y-O-Y Net Sales Trend (excluding currency impacts)* Selling Price Increase Progression vs Last Inflation Cycle -2 Year Stack* Last Cycle Selling Price** 38.5% 20% 11.7% 0.8% -3.7% 16.5% 12.3% 13.5% 12.1% 15% 8.2% 10% 5% 0% 3Q '20 4Q 1Q '21 2Q 3Q 4Q 1Q '22 2Q 3Q Q1' 21 Q2' 21 Q3' 21 Q4' 21 Q1' 22 Q2' 22 Q3 '22 3Q22: Sales growth driven by selling price increases Figures in the table may not recalculate due to rounding. * 3Q22: two-year stack pricing of ~18% 2 Year Stack = Sum of 2021 and 2022 quarterly price increases versus prior year ** = Last Cycle Q1 2017 - Q4 2018 Q4'22#5Supply chain and manufacturing disruption trends LO 5 4Q 21 2Q 22 3Q 22 Raw material availability Severe shortages Logistics Severe shortages (Truck availability) Logistics (Port congestion) Severe backlog U.S. labor availability Heightened shortages Ongoing improvement Minimal improvement China impacted; other regions improved Modest improvement Continued improvement Continued improvement Continued improvement Modest improvement RM Inflation 2021 - Q3 2022 vs Prior Year Cumulative 1.0B YTD '22 0.9B FY '21 1Q21 2Q21 3Q21 4Q21 1Q22 2Q22 3Q22 U.S. · • $1.9B of cumulative in past 7 quarters COVID labor High level Minimal impact Minimal impact absenteeism China COVID lockdowns Dual control impacts mfg. Disruptions into early June 2-year stacked raw material inflation ~40% Supply availability continues to improve Focus on inventory reduction New restrictions Q3 results vs. original Q3 guidance: • U.S. raw material availability in aggregate improved New force majeures impacted certain raw materials China restrictions worse than expected Q4 outlook: Further improvement in raw material availability China operations: additional risk for more restrictions PPG#6Performance Coatings 3rd Quarter Highlights $MM (USD) 3Q22 3Q21 Chg % • Selling price increases of about 11%; and 15% on a two-year stacked basis Net Sales 2,705 2,758 -53 -2% • Segment Income 362 408 -46 -11% • Margin % 13.4% 14.8% -1.4% -- • Margin % excl. amort. 14.5% 16.0% -1.5% Select Net Sales Detail Volume Currency Divestitures • 3Q YOY Change -6% -6% -1% As forecast, lower Architectural DIY (destock) & protective & marine (China restrictions) demand All-time sales records for automotive refinish, traffic solutions and PPG Comex Continued progress in expanded U.S. architectural PRO initiative with The Home DepotⓇ Manufacturing costs impacted by higher energy prices and certain supply disruptions Open orders remain elevated; not filled due to supply constraints; similar to Q2 exit rate Divestures include wind down of Russia business Unfavorable YOY foreign currency translation reduced sales -$165MM & income ~$25MM Organic Sales Total Segment Refinish Architectural Americas & AP Architectural EMEA Aerospace PMC Traffic Solutions 3rd Quarter Results MSD MSD MSD FLAT DD LSD DD 4th Quarter LSD MSD LSD FLAT DD LSD FLAT Outlook Legend: Green (YOY percent increase); Red (YOY percent decrease); DD = double digit; HSD/MSD/LSD = High/Mid/Low Single Digit- organic sales include price and sales volumes 4th Quarter Outlook 6• Two-year stacked selling price increases of ~18%; continuing margin recovery Sales volumes down a mid-single-digit percentage compared to the fourth quarter 2021; soft architectural DIY demand (global) Raw material cost inflation of a mid-single-digit percentage YOY; elevated logistics and rising energy costs Raw material availability improving; sales volumes still affected by certain specific shortages and logistics bottlenecks Lower sales of $50 million related to small non-core divestitures and wind down in Russia Unfavorable YOY foreign currency translation reducing sales ~$160MM and income ~$10 million#7Industrial Coatings 3rd Quarter Highlights • Selling price increases of about 14% and -20% on a two-year stacked basis Segment margins improved 200 basis points sequentially Auto OEM production levels remain well below pre-pandemic levels (component shortages) Two-year stacked raw material inflation ~40%; rising energy costs Divestures include wind down of Russia business Unfavorable YOY foreign currency translation reduced sales ~$100MM & income ~$5MM $MM (USD) 3Q22 3Q21 Chg % Net Sales 1,763 1,614 +149 +9% Segment Income 192 140 +52 +37% • Margin % 10.9% 8.7% +2.2% -- Margin % excl. amort. 11.5% 9.5% +2.0% -- Select Net Sales Detail Volume Currency Divestitures 3Q YOY Change +2% -6% -1% Organic Total Automotive Industrial Packaging Sales Segment OEM 3rd Quarter Results 4th Quarter Outlook DD DD HSD DD 8888 MSD DD LSD MSD Legend: Green (YOY percent increase); Red (YOY percent decrease); DD = double digit; HSD/MSD/LSD = High/Mid/Low Single Digit organic sales include price and sales volumes 4th Quarter Outlook • . Selling price increases - two-year stack of ~20%; continue margin recovery . • Sales volumes down a mid-single-digit percentage compared to the fourth quarter 2021; softer demand for general industrial, especially consumer-related products Continuation of soft overall industrial production activity in Europe and China Automotive industry OEM production trend improving; expect modest increase YOY in industry builds 7 Raw material cost inflation of a mid-single-digit percentage YOY (2-year stack more than 40%); increasing energy costs • Unfavorable YOY foreign currency translation reducing sales -$120MM and income ~$10 million#88 PPG Comex - strong organic growth trends PPG Comex EBITDA Growth 2017-2022E 12% CAGR Commentary • . Organic sales growth of 40% since 2017 Expanded footprint (low-cost base) • 3,700 locations pre-acquisition to >5,000 in 2022 Leadership in brands & innovation in Mexico Best-in-class customer experience Leverage footprint to grow protective & marine Added traffic markings to product portfolio 2017 2018 EBITDA 2019 2020 2021 2022E # of Concessionaires PPG#9$8 $7 Balance Sheet and Cash Third Quarter Cash and Debt ($ in billions) 96 $6 5.5 5.5 $5 4.0 4 $4 3.4 $3 6.8 6.8 5.5 2.1 $2 1.5 1.3 1.1 $1 $0 3Q'19 3Q'20 3Q'21 3Q'22 5.7 • Third Quarter 2022 Activity and Liquidity 3Q 2022 approximate cash uses • • Sequential working capital decrease of ~$100 million; ongoing focus to reduce inventory levels Capital spending: ~$100 million Dividends of $145 million Liquidity • • $1.1 billion cash and short-term investments • $2.2 billion undrawn credit facility Expect full-year 2022 capital spending to be $450 million to $500 million. Total net debt: $5.7 billion; down $400 million from 2Q22 $6.8 billion gross debt; repaid $100 million of term loan credit agreement Cash Gross Debt Net Debt *Cash includes cash and cash equivalents, and short-term investments. 9 Figures in the table may not recalculate due to rounding.#10Fourth Quarter 2022 Financial Projections ($ in millions unless otherwise stated) 10 Category Total company sales volumes (YOY) *Adjusted earnings-per-diluted share Divesture-related net sales and Russia net sales Raw material costs (YOY) Unfavorable foreign currency impact (YOY) based on current rates Corporate expenses (total) Projection Down a mid-single-digit percentage $1.05 $1.20 ~$75 (recent asset sales and wind down in Russia) Inflationary: ~mid-single-digit % (2-yr stacked ~40%) ~$280 net sales -$20 to $25 EBIT -$55 to $60 Net interest expense (total) ~$35 to $40 Restructuring savings (incremental) ~$15 Tax rate -20% * See presentation appendix for reconciliation of EPS#1111 Tikkurila Acqusition: Delivering Sustainably Advantaged Solutions The share of waterborne paints as a % of PPG Tikkurila's net sales from architectural paints Ecolabel Percenatge of ecolabeled products 90 89% www.ecolabel.eu 88 48% 86 YMPA ARISTOMERKKI (2021) 84% 84 83% 83% 82% 82 MILJOMARK 80 78% THESTOSSA ALLERGIA. JA ASTHALITION KANGSA Percentage of waterborne paints 89% 78 76 74 EMISSION M1> CLASS FOR (2021) 72 70 BUILDING 2016 2017 2018 2019 2020 2021 Over 350 third party certified (eco labeled) products and ~90% of paints are waterborne PPG#12Additional materials and appendix#13Adjusted EPS Reconciliation $ in millions, except EPS Third Quarter 2022 Net Income from Continuing Operations, As Reported Business restructuring-related costs, net(b) Acquisition-related amortization expense Adjusted Net Income Attributable to PPG Fourth Quarter 2022 Projection Total PPG Net Income $ EPS(a) 329 34 $ 1.39 0.14 30 0.13 $ 393 $ 1.66 Total PPG EPS(a) Reported earnings per diluted share Acquisition-related amortization expense Business restructuring-related costs, net (b) Adjusted earnings per diluted share (a) Earnings per diluted share is calculated based on unrounded numbers. Figures in the table may not recalculate due to rounding. $ 0.90 $ 1.05 0.13 0.02 $ 1.05 $1.20 - (b) Included in business restructuring-related costs, net are business restructuring charges, accelerated depreciation of certain assets and other related costs, partially offset by releases related to previously approved programs. 13#14Historical ROS* Segment Margin and Adjusted EPS Excluding Amortization $ in millions, except ROS % 2020 Performance Segment Q1 Q2 Q3 Q4 FY Q1 Q2 ROS Margin, As Reported 13.5% 17.5% 18.9% 13.8% 16.0% Amortization 26 21 22 ROS Margin excluding Amortization 14.8% 18.5% 19.9% 23 14.9% 92 17.1% Q4 16.6% 16.5% 14.8% 9.7% 29 30 33 33 17.9% 17.5% 16.0% 11.0% 2021 Q3 2022 FY Q1 14.4% Q2 12.4% 15.2% Q3 13.4% 125 15.6% 32 13.7% 31 30 16.3% 14.5% Industrial Segment ROS Margin, As Reported 13.2% 3.7% 17.7% 17.7% 14.0% 15.7% 11.8% 8.7% 6.2% 10.5% 8.1% 8.9% 10.9% Amortization 10 10 10 10 ROS Margin excluding Amortization 14.0% 4.7% 18.3% 18.4% 40 14.8% 10 16.3% 11 12.4% 13 13 47 11 11 10 9.5% 7.0% 11.2% 8.7% 9.5% 11.5% Total Segments ROS Margin, As Reported 13.4% 13.2% 18.4% 15.4% Amortization 36 31 32 ROS Margin excluding Amortization 14.5% 14.2% 19.3% 33 16.3% 15.2% 132 16.2% 16.3% 14.7% 12.5% 39 41 46 17.3% 15.7% 13.6% 8.3% 46 9.4% 12.9% 172 13.9% 10.7% 12.8% 12.4% 43 11.7% 42 13.7% 40 13.3% Total PPG Adjusted EPS Amortization EPS Adjusted EPS excl Amortization *ROS = Return on Sales 2020 2021 2022 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 1.19 0.99 1.93 1.59 5.70 1.76 1.81 1.54 1.11 6.22 1.23 1.68 1.53 0.12 0.10 0.10 0.10 0.42 0.12 0.13 0.15 0.15 0.55 0.14 0.13 0.13 1.31 1.09 2.03 1.69 6.12 1.88 1.94 1.69 1.26 6.77 1.37 1.81 1.66 Full year EPS is calculated using the full year average diluted shares outstanding and quarterly EPS is calculated using the quarterly average diluted shares outstanding. As such, full year EPS may not 14 equal the sum of the quarterly EPS figures due to this calculation.#1515 Thank You For Your Interest In PPG Contact Information: INVESTORS: John Bruno phone: +1.412.434.3466 email: [email protected] MEDIA: Mark Silvey phone: +1.412.434.3046 email: [email protected] PPG We protect and beautify the world™