Trian Partners Activist Presentation Deck
Trian Believes Focus is Needed in the North American Architectural Business
▪ PPG has lost significant market share in North American Architectural Coatings
over the last few years - one of its largest businesses
▪ In 4 out of the last 5 years, PPG has reported sales declines despite enjoying
tailwinds from growing US housing starts and construction spending, and
strong comparable sales in its PPG Paints stores
Sales Growth - North American Architectural Businesses(1)
12%
10%
8%
6%
4%
2%
0%
(2%)
(4%)
2013
2014
2015
Sherwin-Williams ■Masco
PPG
2016
2017
Source: SEC filings.
(1) Sherwin-Williams growth for the combined Americas and Consumer Brands Groups. Masco growth is for the Decorative Architectural Products Group. PPG sales trends estimated based on commentary
provided in annual reports.
- 24 -View entire presentation