Why Invest in SHW?

400 Millions of Gallons 500 600 700 900 U.S. Architectural Paint Industry Architectural Paint Gallons 800 PRIOR PEAK 2000 2001 2002 2003 2004 2004 2005 2006 2007 2008 2007-2014 FEWER NEW HOMES BUILT = FEWER NEW GALLONS -13M FORECLOSURES = REDUCED MAINTENANCE 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021* 2022 2022 280,000 ~830 Million Sq. Ft. in Thousands Non-Residential & Residential Square Footage 240,000 PRIOR PEAK 200,000 160,000 120,000 2000 2001 2002 2003 2004 25% GROWTH SINCE PRIOR PEAK 25% growth in square footage since prior peak should drive continued gallon growth due to larger res repaint and property maintenance opportunities *2021 Gallons revised lower from prior presentations given updated data from American Coatings Association that reflects greater impact of industry raw material availability challenges. 2022 impacted by continued raw material/supply chain challenges and soft DIY. Sources: American Coatings Association, Department of Commerce, Dodge Data & Analytics & Company Estimates, Dodge Data & Analytics U.S. Building Stock Data, ATTOM Data Solutions SHERWIN-WILLIAMS. 25 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

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