Trian Partners Activist Presentation Deck

We Believe That Limited Operating Synergies Exist Between Architectural and Industrial Coatings Businesses Level of Synergies Synergy Type Engineering / R&D Procurement Distribution Customers / Cross Selling Marketing / Advertising Administrative Overhead Overall Minimal Some None None None Some Limited Synergies ■ Commentary ▪ Some procurement synergies but a separation would create two independent businesses with sufficient scale so likely no material impact ■ Limited technology overlap between architectural and industrial chemicals; architectural coatings are less R&D intensive ■ ▪ Paint stores, home improvement centers vs. OEMs and industrial distributors No shared distribution Distinct brands with separate identities Ability to leverage some administrative overhead While PPG has built one of the largest coatings companies in the world, in part through M&A, the current portfolio is comprised of at least 12 underlying businesses with disparate market dynamics. We believe there are virtually no synergies between Architectural and Industrial coatings - 32 -

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