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PPG Investor Overview

March, 2018

2

Notes

Forward looking statement

3

The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made

by or on behalf of the Company. 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 ongoing impacts of the 2017 natural disasters, any currently unanticipated future impacts from the

natural disasters, global economic conditions, increasing price and product competition by foreign and domestic

competitors, fluctuations in cost and availability of raw materials, the ability to achieve selling price increases, the

ability to recover margins, the ability to maintain favorable supplier relationships and arrangements, the timing of

and the realization of anticipated cost savings from restructuring initiatives, difficulties in integrating acquired

businesses and achieving expected synergies therefrom, economic and political conditions in international

markets, 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 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 2017 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 2017 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.

4

PPG: Our employees protect and beautify the world

Ranked among the “World’s Most Admired Companies” in its industry by

Fortune Magazine in 2018

*From Continuing Operations

A global maker

of paints,

coatings,

and specialty

materials, with

full-year net

sales of $14.8

billion* in 2017

A leader in all

our markets:

construction,

consumer

products,

industrial and

transportation

markets and

aftermarkets

Headquartered

in Pittsburgh,

Pennsylvania,

with operations

in more than

70 countries

Founded in

1883

Fortune 500:

Ranked 183

5

External awards and recognitions

Corporate Social Responsibility Awards• No. 31 on the U.S. 500 Newsweek Green Rankings

• PPG received a perfect score of 100 percent on the Human Rights Campaign Foundation’s 2018 Corporate Equality Index

Product and Process Awards• Two PPG technologies earned 2017 R&D 100 awards in the mechanical

devices/materials category; premium compact process primer and LIQUID NAILS® FUZE*IT® All Surface adhesive

Customer Awards• PPG named by John Deere as supplier of the year

• PPG Tianjin, China business earned the Excellent Supplier award from Yanfeng Group

• PPG Sealants Europe business received Airbus award Best Performer

2017 key achievements

Strategic Portfolio Actions•Completed the final divestiture of the fiber glass business

•Made 4 bolt-on acquisitions with annual revenue of nearly $200 million

Strong Financial & Operational Performance •Adjusted EPS* up 4% vs. prior year despite significant raw material inflation

•Cost savings from restructuring actions totaled $50 million; overhead costs as a percent of sales about 90 basis points lower than prior year

•Operating working capital reduced by 50 basis points vs. prior year

Cash and Cash Deployment

•$1.5 of cash and short-term investments at year-end

•Quarterly dividend increase – 46th consecutive year (11% annual increase)

•Deployed $1.1 billion

• $815 million for share repurchases

• $325 million for acquisitions

6 * See appendix for adjusted EPS trend reconciliation

7

Business Portfolio Optimization

~$11.2B (2007) ~$14.8B (2017)

Percentage of Sales (as originally reported)

In 2017, finalized a multi-year strategic portfolio transformation with

the sale of U.S. fiber glass business

100%

0%

20%

40%

60%

80%

100%

2005 2010 2016 Current

Coatings Optical Commodity Chemicals Glass

PPG Coatings has delivered 9% earnings CAGR over this period

Other

Global paint and coatings industry (~$140B)

Competitive Landscape

Source: Orr and Boss; Company Annual Reports; PPG estimates

PPG is a leader in industry consolidation with many smaller competitors8

Source: IPPIC, Company Annual Reports, PPG estimates

Strong fundamentals

• Stable earnings/cash

• Growth potential

• Low capital intensity

• Technology & service

• Consolidating industry

U.S & Canada

43%

EMEA30%

Asia/Pacific17%

Latin America

10%

Coatings geographic mix

Source: IPPIC

Coatings Industry

Geographic Sales Mix

PPG Coatings

Geographic Net Sales Mix

PPG - Opportunities to expand in Asia and globally

U.S. & Canada

18%

EMEA30%

Asia Pacific45%

Latin

America

7%

9

EMEA includes Europe, Middle East, and Africa

Coatings end-use markets

~40%

~60%

Special-Purpose Coatings:• Aerospace

• Automotive OEM

• Automotive Refinish

• Specialty Coatings & Materials

Architectural41%

General Industrial29%

Automotive OEM8%

Refinish6%

Protective & Marine

12%

Packaging2%

Aerospace1%

Industry End-Market Demand (~$140B Sales Value)

Source: IPPIC, Company Annual Reports, PPG estimates

• General Industrial

• Protective & Marine

• Packaging

Architectural

Coatings

PPG Coatings End-Use Net

Sales Mix

PPG is in line with the global coatings industry end-use mix

10

PPG end-use markets

Automotive OEM, Parts

& Aftermarket, 35% Construction - New &

Maintenance, 40%

General Industrial, 15%

Aerospace and Marine

(New & Aftermarket), 10%

Approximate % of Total PPG Net Sales

Diverse end-use markets globally

11

#1 Market Position #2 Market Position #3 Market Position #4+ Market Position No Meaningful Presence

PPG global market positions

Source: IPPIC; company annual reports, PPG estimates

Position by Coatings Vertical

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

Source: Orr and Boss; Company Annual Reports; PPG estimates

Lower <---- Level of Consolidation ----> Higher

---------- Participation in all end-use markets -----------

Global

Position

Arch

~$58B

General

Industrial

~$41B

Protective

& Marine

~$18B

Auto OEM

~$11B

Refinish /

Collision

~$8B

Packaging

~$3B

Aerospace

~$1B

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

Sherwin

Williams#1

AkzoNobel #3

Nippon #4

RPM #5

Axalta #6

BASF #7

12

PPG Growth Levers

Innovation

Growth

Economic

Growth

Acquisition

Growth

• Technology-led organic growth

• Leverage expertise across coatings end-use markets

• Proven track record of successful integrations

• Active pipeline of global acquisition targets

• European volumes ~13% below 2008 levels

• Strong incremental margins due to cost management

Growth opportunities in many areas 13

14

Technology Development Drives Future GrowthPPG has leading positions in significant new technologies

'09 '11 '13 '15 '16 '17

0

20

40

60

80

100

2006 2014 2016 2017

Global Auto Industry Builds (MM)

Compact Process

Traditional Process

Opportunity

Packaging – BPA-NI CoatingsAerospace – Lightweight Sealants

Increased adoption of PPG’s internal can coatingsPPG’s sealants eliminate over 2,000 lbs. per aircraft

Automotive OEM – Compact Process Automotive Refinish – Waterborne Coatings

PPG is the global waterborne leader;

shop conversions continue PPG is the global leader; significant growth potential remains

Food & beverage applications

PPG Global Waterborne Collision Shops

Sustainable Growth by Design

We partner with suppliers, applicators, equipment vendors and end users to innovate

Environmental regulation and raw material inflation create opportunities

2017 R&D 100 Winner

2017 R&D 100 Finalist2016 R&D 100 Winner

ENVIROCRON® extreme protection

powder coating

AEROCRON® 2100, first e-coat

Primer for the aerospace industry

2016 R&D 100 Winner

ENVIRO-PRIME® EPIC

Equipment

Supplier

ENVIROBASE®

Liquid Nails® FUZE*IT bonds materials

in any weather

15

Acquisitions contribute to sales growth

$0

$500

$1,000

$1,500

$2,000

$2,500

$3,000

$3,500

$4,000

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Acquisition Sales Growth Over Prior Year

Notable acquisitions:

2008 – SigmaKalon

2013 – AkzoNobel NA

2014/5 – Comex (partial years)

+5% average sales growth

from acquisitions

(USD MM)

Acquisitions supplement organic growth

16

17

PPG Reporting Segments Drive Our Business

Performance Coatings

• Aerospace

• Architectural Coatings

- Americas & Asia Pacific

- Europe, Middle East, Africa

• Automotive Refinish Coatings

• Protective & Marine Coatings

40%

Industrial Coatings

• Automotive OEM Coatings

• Industrial Coatings

• Packaging Coatings


Performance coatings segment

Strategic Business Units:

• Automotive Refinish

• Aerospace

• Architectural Americas & Asia Pacific

• Architectural EMEA

• Protective & Marine

Net Sales (US$B) (incl. acquisition and currency impacts)

Segment Traits:

• Distribution focus

• Solid operating margins

• Consistent cash generation

• Stable industries

$2.0

$3.0

$4.0

$5.0

$6.0

$7.0

$8.0

$9.0

$10.0

2007 '09 '11 '13 '15 2017

Acquisition-Related

11.8%13.1%

14.9%15.2%

0%

4%

8%

12%

16%

'11 '13 '15 2017

Segment Operating Margins

CAGR = 9%

18


'08 '10 '12 '14 '16 '17

US & Canada

48%

EMEA28%

Asia21%

Latin America

3%

'07 '09 '11 '13 '15 '16 '17

Net Sales in USD (incl. acquisition and currency impacts)

PPG Refinish Sales 2017

Automotive Refinish

CAGR = 2%

CAGR = 12%

19EMEA includes Europe, Middle East, and Africa

• Color complexity

• Emerging regions growth

• Technology shift to waterbase

• Value added programs and training

PPG Global Waterborne Paint Shops

Key Industry Trends

2007 '08 '09 '10 '11 '12 '13 '14 '15 '16 2017

Recent Acquisitions

Aerospace

CAGR = 5%

50%

50%

Aerospace Net Sales Mix

Aftermarket

OEM

Aerospace Products

• Deft Coatings

• Waterborne / Military market

• Cuming Microwave

• Radar absorbing products

• Advanced military

applications

• Sealants Europe (Le Joint

Francais)

• Position in continental

Europe

• Established distribution20

• Coatings

• Sealants

• Transparencies

• Chemical Management

Net Sales in USD(incl. acquisition and currency impacts)

30%

70%

Military

Commercial

0.0

3.0

6.0

9.0

12.0

15.0

Ind. Maint.

Energy

Infrastructure

MarineAftermarket

Marine OEM

2008 '09 '10 '11 '13 '15 '16 2017

U.S. & Canada

EMEA

Asia


PPG PMC Net Sales 2017

PMC Industry Segments ($B)

Protective & Marine Coatings (PMC)

0%

25%

50%

75%

100%

Protective

Coatings

Marine New Build

Marine After

Market

PPG Net Sales Mix

Latin America

21

Today2008

Protective

Coatings

Marine New Build


Marine After

Market

100

200

300

400

500

600

700

800

900

1,000

2009 2012 Current

Architectural Coatings (Americas & Asia)

National Retailers

(DIY) 35%Company Stores

50%

Independent

Dealers 15%

PPG U.S. & Canada

Architectural Approximate Net Sales Mix

0% 25% 50% 75% 100%

PPG U.S. Architectural

Net Sales Mix

Maintenance / Repaint

Non-ResidentialResidential

25%

65% 35%

New

Construction

PPG U.S. & Canada

Architectural Store Count

75%

2008 2010 2012 2014 2016

Net Sales in USD (incl. acquisitions and currency impacts)

CAGR = +11%

22

• Leading architectural coatings position in Mexico; well-recognized regional brands

• ~4,400 independently owned/operated concessionaire locations in Mexico

• Over 200 locations added in 2017

• Over 650 points-of-sale across Central America (incl. Glidden)

Latin America Points-of-Sale Growth

Architectural Coatings (Latin America)

3,632 3,806

4,001 4,213

4,431 84 88

224

324

655

3,000

3,500

4,000

4,500

5,000

5,500

2013 2014 2015 2016 2017

Mexico Central America

23Opening one new store approximately every other day

2009 2011 2013 2015 2016 2017

600

640

680

720

2013 2014 2015 2016 2017

More

Stability

in End-

Market

Maintenance

80%

New Construction

20%

End-Use Market Demand

Company-Owned Stores

24


Net Sales in Euro (incl. acquisitions)

#1 PPG Position

#2 PPG Position

#3 PPG Position

>#3 PPG Position

No PPG Participation

Strong Market Positions

#1 or #2 in 80% of Penetrated

Markets

Iceland

United Kingdom

Portugal

Spain

France

Germany Poland

Romania

Denmark

Norway

Finland

Estonia

Latvia

Lithuania

Belarus

Ukraine

Turkey

Greece

Austria

Bulgaria

Architectural Coatings (EMEA)

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

20%

'11 '13 '15 2017

11.5%

15.7%

18%

16.2%

Industrial Coatings Segment

Strategic Businesses

• Automotive OEM

• Industrial

• Packaging


$2.0

$3.0

$4.0

$5.0

$6.0

2007 '09 '11 '13 '15 2017

U.S. & Canada

EMEA

Asia LA

Segment Net Sales Mix

Segment Operating Margins

CAGR = 5%

25


Net Sales (US$B) (incl. acquisition and currency impacts)

All

Remaining

Customers

U.S. & Canada

EMEA

Asia

LA

PPG Automotive OEM Coatings

Automotive OEM Coatings

CAGR = 4%

50

55

60

65

70

75

80

85

90

95

2008 '09 '10 '11 '12 '13 '14 '15 '16 2017

Global Auto OEM Production

MM Units

PPG Auto OEM Coatings

Customer Mix

Top 7 PPG

Auto OEM

Customers

U.S.

Based

Non-U.S.

Based

26


CAGR = 4%


2018 estimated to be +1% growth

U.S. & Canada

EMEA

Asia

LA


2004 '06 '08 '10 '12 '14 2016 2017

PPG Asian Industrial Coatings SBU Net Sales

'07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17

Industrial Coatings SBU

Net Sales Mix

Industrial Coatings SBU

CAGR = 6%

CAGR = 13%


• Heavy-duty equipment

• Appliances

• Electronic materials

• Coil

• Automotive accessories

• Sporting equipment

• Office furniture

Markets served include:

27

'08 '09 '10 '11 '12 '13 '14 '15 '16 '17

Packaging Coatings

CAGR = 2%

Beverage

Food

Other

Industry Container Use

Source: PPG Estimates

Interior

ExteriorEnds

Other

28

BPA-NI technologies

Key Trends

• Conversion to BPA-NI technology

continues for food and beverage

cans globally

• Metal can industry provides growth

in all regions due to performance,

safety and sustainability


'07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17

Specialty Coatings & Materials

CAGR = 5%

Key PPG Products / End-Use Markets

• Silica –Tires, battery separators, coatings, various industrial uses

• Teslin® – Printing materials, labels, secure credentials/IDs, various industrial and consumer uses

• Monomers and Dyes – Materials and coatings used in eyeglass lenses

• OLED – OLED materials for Universal Display Corporation


Silica

TESLIN® substrate

Optical Monomers and Dyes

OLED materials

29

$3.71

$4.67

$5.33

$3.00

$3.50

$4.00

$4.50

$5.00

$5.50

$6.00

+12% CAGR

PPG adjusted earnings per diluted share trend

Key Drivers

• Global business

expansion

• Innovation-led organic

growth

• Ongoing, aggressive cost

management

• Ongoing and disciplined

cash deployment

• Acquisitions &

synergies

• Share repurchases

• Uneven global end-market

demand 2015/2016

Transformed portfolio and accretive cash deployment drive earnings growth

* Adjusted Earnings Per Diluted Share from Continuing Operations – See appendix for reconciliations to reported EPS

$5.67

30

$5.87

Coatings cost comparison

Sold in 2,000

Liter Totes

Sold in 1

Gallon

Paint

Cans

And 5

Gallon

Buckets

Average Architectural Coatings

Industry estimates – figures vary greatly by end-use and application

Source: PPG Estimates

Average Industrial Coatings

Raw material basket and manufacturing/distribution costs are different

Resins and Latex

Titanium Dioxide

Solvents and Pigments

Additives

Manufacturing

Packaging

Distribution - intermediate

Distribution - final

Resins and Latex

Titanium Dioxide

Solvents and Pigments

Additives

Manufacturing

Packaging

Distribution - final

31

http://blog.indco.com/2013/11/19/indco-industry-report-on-tote-mixers-for-2013/screen-shot-2013-11-19-at-4-13-02-pm/

Operations in ~70 countries

PPG

Presence

PPG Global Operations: Broad Footprint

43%

30%

17%

10%

U.S. & Canada

EMEA

Asia/Pacific

Latin America

2017 Sales Mix*

Global footprint delivers balanced coatings portfolio and opportunities for growth

*from continuing operations

32

PPG Europe, Middle East and Africa

Broad regional footprint to supply future demand growth33

4%

5%

6%

7%

8%

9%

10%

11%

12%

13%

14%

15%

0

100

200

300

400

500

600

EB

IT M

arg

in o

n S

ale

s

Ea

rnin

gs

Total PPG Europe, Middle East and Africa

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

Sa

les

Other PPG BusinessesArchitectural Coatings EMEA

PPG Net Sales Mix (MM €) Earnings (MM €)

Strong Earnings Trajectory; RM Inflation Pressure Impacted 2017

34

PPG Asia Pacific Manufacturing Footprint

Greater China

Mainland China

Tianjin Auto/IC

Tianjin ASC

Suzhou ASC

Suzhou Packaging/IC

Foshan

Wuhu

Zhangjiagang

Songjiang

Jiading

Kunshan

Wuhan

Nansha

Australia

Clayton

Villawood

Tullamarine

Taiwan

Alltech

Taoyuan

Chia Yi**

Thailand

Bangplee

Korea

Cheonan

Busan

Ulsan**

X

Malaysia

Petaling Jaya

Johor Bahru

New Zealand

Auckland

X

Indonesia

Jakarta

Japan

Nagoya

Vietnam

Jahor

India

Sriperumbudur**

Moraiya**

Pondicherry **

Sari **

Dahej**

** Joint Venture

XX

Philipines

Manila

Singapore

Singapore

Extensive region-wide coverage35

Australia

Clayton

Villawood

Tullamarine

1,625

2,457 2,523

$0

$500

$1,000

$1,500

$2,000

$2,500

$3,000

2009 2013 2017

Consolidated Net Sales*

187

297 361

$0

$100

$200

$300

$400

2009 2013 2017

Segment Income*

Significant profitable growth

$MM - USD

* Recast for discontinued operations

PPG Asia Pacific Financials

$MM - USD

36

Strong and growing Asian presence (excl. Japan)

Many Leading Asia Markets (excl. Japan)

Performance

Industrial

Broad, full coatings business portfolio

PPG Asia Net Sales Mix (2017)Industry Coatings Demand for Asia

Coatings Industry in Asia remains Fragmented

Sources: PPG Internal estimates (excludes Japan includes ARCH)

PPG Market

Position

PPG ’10 - ’17

CAGR

Automotive OEM #1 8%

General Industrial #2 6%

Packaging #1 5%

Auto Refinish #1 5%

Aerospace #1 6%

Protective/Marine #4 -10%

Architectural #7 1%

Total Coatings #3 3%

Akzo8%

Nippon 7%

PPG 6%

Asian Paints6%

Kansai 3%

Valspar 2%

BASF 2%

Jotun 2%

Dulux 2%

Axalta 2%

KCC 1%Hempel

1%TOA 1%Carpoly 1%

Others 56%#14,200

players

37

64%12%

12%

7%5%

China

India

SoutheastAsia

Korea

Robust cash generation over time while transforming the business portfolio

$2.0B

$1.5B

$2.4B

$1.7B

$1.2B

$1.5B

$1.9B

$1.5B

$0

$500

$1,000

$1,500

$2,000

$2,500

$3,000

'10 '11 '12 '13 '14 '15 '16 '17

Approximate Cash & Short Term Investments

* As originally reported, not adjusted for business divestitures

Millions USD

PPG cash trends

38

$1,000

$1,250

$1,500

$1,750

$2,000

2010 '11 '12 '13 '14 '15 '16 '17

Cash From Operations*

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

++ Adjusted Cash from Operations; excluding cash taxes from the North American fiber glass business divestiture

Ad

juste

d +

Adju

ste

d+

+

Cash Use Summary:

Grow Business ~60%

Return to Shareholders ~40%

19%

36%17%

28%

Past 10 Years (~$20B)(2008 – 2017)

Approximate 2017 Cash Uses

$ in millions – As reported, not adjusted for business divestitures

Legacy of consistent and prudent cash deployment

Balanced cash deployment

39

$360

$325

$435

$800

Capital Spending

Acquisitions

Dividends

Share Repurchases

* Adjusted to exclude certain non-recurring charges, see appendix for reconciliation. All years as originally reported,

not adjusted for business divestitures.

ROC growth demonstrates successful acquisition integration

PPG return on capital (adjusted)*

40

11.3%

8.5%

14.0%

16.6%

18.3%

16.1% 16.0%

17.2%16.7% 16.4%

0

1,000

2,000

3,000

4,000

5,000

6,000

7,000

8,000

9,000

10,000

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

16.0%

18.0%

20.0%

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Cap

ital ($

MM

)

Re

turn

on

Cap

ital

Capital Return on Capital

$0

$200

$400

$600

$800

$1,000

$1,200

'08 '10 '12 '14 '16 ‘17

0

100

200

300

400

500

600

700

800

2018 2019 2020 2021 2022 2023 2025 2027 2028 2029 2038 2040 2044

USD Notes

EUR Notes

0.00

0.20

0.40

0.60

0.80

1.00

1.20

1.40

1.60

1.80

'78 '81 '84 '87 '90 '93 '96 '99 '02 '05 '08 '11 '14 '17

46 Years of Increased DividendsDividends per share – Adjusted for

stock splits

US$MM

Long-Term Debt Maturity

Schedule13%

7%

3% 3%3%

2% 2%3%

4%

3% 2%

0%

2%

4%

6%

8%

10%

12%

14%

1980 || 1990 || '02 '04 '06 '08 '10 '12 '14 '16 '17

Capital Spending as % of Sales (As originally reported, not adjusted for business

divestitures)

Last 5 years

Average =

~3.0%

PPG Share Repurchases

US$MM

Average

~$600MM

Average

~$840MM

PPG financial hallmarks

41

Last 3

years =

9%

PPG Shared Services Centers

Ohio, USA

Brno, Czech

Republic

Kuala Lumpur, Malaysia

Tianjin, China

42

Mexico City, Mexico

• Supports all PPG’s businesses in all regions

• Cost effectiveness and scalability

• Playbook for integration of acquisitions

Adjusted EBITDA from continuing operations as percent of sales as reported in company reports (excluding unusual items); See Appendix for

reconciliations.

15.0%

13.7%

15.0%

12.1%12.7%

16.2%

13.9%

15.4%

12.9%13.2%

15.7%

17.4%

16.0%16.3%

14.8%

13.5%

19.1%

18.0%

16.9%

15.4%

13.0%

13.7%

20.6%

17.4%

16.1%

11.6%

13.3%

19.3%

-1.0%

1.0%

3.0%

5.0%

7.0%

9.0%

11.0%

13.0%

15.0%

17.0%

19.0%

21.0%

23.0%

PPG Sherwin Williams Valspar Akzo Nobel RPM Axalta

Full Year EBITDA as % of Net Sales

2013 2014 2015 2016 2017

N/AN/A

Coatings Peers EBITDA %

Consistent coatings industry margin expansion across varying economic conditions

43

Adjusted EBITDA from continuing operations as percent of sales as reported in company reports (excluding unusual items);

See Appendix for reconciliations.

PPG remains a margin leader across coatings sector end-use markets

17.4%16.1%

11.6%13.3%

19.3%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

16.0%

18.0%

20.0%

22.0%

PPG Sherwin Williams Akzo Nobel RPM Axalta

2017 Full Year EBITDA as % of Net Sales

Coatings Peers EBITDA %

44

www.ppg.com

Additional Materials

and Appendix

PPGSherwin

WilliamsAkzo Nobel RPM

Axalta

Coatings

Systems

Currency USD USD Euro USD USD

Sales 14,750 14,984 9,612 4,958 4,353

Income before taxes 2,008 1,528 764 244 190

Unusual or Infrequent

Charges20 ***127 -- **216 *155

Interest, net 85 263 78 83 147

Depreciation &

Amortization460 492 276 117 348

EBITDA, adjusted 2,573 2,410 1,118 660 840

% of Sales 17.4% 16.1% 11.6% 13.3% 19.3%

EBITDA as % of Sales (excluding specials):

2017 EBITDA Reconciliation

47

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

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

-Azko Nobel results from continuing operations as disclosed in the Q4 2017 earnings release.

*Termination benefits, transition-related costs, Venezuelan foreign exchange losses and effects of deconsolidation impacts and impairments.

**Goodwill impairment charge, charge to exit Flowcrete Middle East, and severance expense.

***Transaction and integration related SG&A expense related to the acquisition of Valspar.

PPGSherwin

WilliamsValspar Akzo Nobel RPM

Axalta

Coatings

Systems

Currency USD USD USD Euro USD USD

Sales 14,270 11,856 4,191 9,434 4,814 4,074

Income before taxes 786 1,595 434 850 483 83


Charges1,238 ***58 22 5 **(15) *257

Interest, net 99 154 91 91 81 178

Depreciation &

Amortization440 198 98 282 111 322

EBITDA, adjusted 2,563 2,005 645 1,228 661 840

% of Sales 18.0% 16.0% 15.4% 13.0% 13.7% 20.6%



48



-Azko Nobel results from continuing operations as disclosed in the Q4 2017 earnings release.

*Termination benefits, debt extinguishment and refinancing related costs, offering and transaction costs, Venezuelan foreign exchange losses

and effects of deconsolidation impacts and impairments.

**Reversal of Kirker earnout.

***Transaction and integration related SG&A expense related to the acquisition of Valspar.

PPGSherwin


Axalta

Coatings

Systems


Sales 14,241 11,339 4,392 9,892 4,595 4,087

Income before taxes 1,745 1,549 564 992 453 158


Charges198 -- (22) 80 -- 116*

Interest, net 86 62 81 91 69 197

Depreciation &

Amortization446 198 93 306 99 308

EBITDA, adjusted 2,475 1,809 716 1,469 621 779

% of Sales 17.4% 16.0% 16.3% 14.8% 13.5% 19.1%



49



-Azko Nobel results from continuing operations (Paints & Coatings) with certain estimates based on 2016 recast data.

*Termination benefits, transition-related costs, debt extinguishment and refinancing related costs, offering and transaction costs, Venezuelan

foreign exchange losses and effects of deconsolidation impacts and impairments

PPGSherwin


Axalta

Coatings

Systems


Sales 14,250 11,130 4,522 9,427 4,376 4,362

Income before taxes 1,326 1,258 491 529 424 32


Charges417 26 41 253 -- 126*

Interest, net 137 64 65 125 65 218

Depreciation &

Amortization422 199 101 311 90 309

EBITDA, adjusted 2,302 1,547 698 1,218 579 685

% of Sales 16.2% 13.9% 15.4% 12.9% 13.2% 15.7%



50




*Termination benefits, debt extinguishment and refinancing related costs, and transition-related costs

PPGSherwin


Currency USD USD USD Euro USD

Sales 13,198 10,186 4,104 9,663 4,079



Charges249 54 40 -- --

Interest, net 153 63 63 160 74

Depreciation &

Amortization398 188 88 308 84

EBITDA, adjusted 1,979 1,391 615 1,171 520

% of Sales 15.0% 13.7% 15.0% 12.1% 12.7%



51

-Amounts in millions, except percentages, reflects most recent year-end.



PPGSherwin


Currency USD USD USD Euro USD

Sales 13,198 10,186 4,104 9,663 4,079



Charges249 54 40 -- --

Interest, net 153 63 63 160 74

Depreciation &

Amortization398 188 88 308 84

EBITDA, adjusted 1,979 1,391 615 1,171 520

% of Sales 15.0% 13.7% 15.0% 12.1% 12.7%



52

-Amounts in millions, except percentages, reflects most recent year-end.



53

Continuing Operations Discontinued Operations Total PPG

Net Income EPS Net Income EPS Net Income EPS

First Quarter 2017

Net Income Attributable to PPG as Reported $ 328 $ 1.27 $ 6 $ 0.02 $ 334 $ 1.29

Transaction-related costs 3 0.01 -- -- 3 0.01

Pension settlement charge 14 0.05 -- -- 14 0.01

Adjusted Net Income Attributable to PPG $ 345 $ 1.33 $ 6 $ 0.02 $ 351 $ 1.35

First Quarter 2016



Asset write-down -- -- 3 0.01 3 0.01


First Quarter 2015


Transaction-related costs 3 0.01 3 0.01 6 0.02


First Quarter 2014

Net Income Attributable to PPG as Reported $ 275 $ 0.97 $ 987 $ 3.51 $ 1,262 $ 4.48


Adjusted Net Income Attributable to PPG $ 277 $ 0.98 $ 987 $ 3.51 $ 1,264 $ 4.49

First Quarter 2013

Net Income/(Loss) Attributable to PPG as Reported $ 189 $ 0.63 $ 2,221 $ 7.52 $ 2,410 $ 8.15

Legacy pension costs 13 0.04 -- -- 13 0.04

Environmental costs 8 0.03 -- -- 8 0.03


U.S. tax law change enacted in 2013 (10) (0.03) -- -- (10) (0.03)

Adjusted Net Income Attributable to PPG $ 205 $ 0.68 $ 2,221 $ 7.52 $ 2,426 $ 8.20

1st Quarter Reporting Period

Adjusted EPS Reconciliation

$ in millions, except EPS



Second Quarter 2017

Net Income Attributable to PPG as Reported $ 504 $ 1.95 $ 2 -- $ 506 $ 1.95


Gain from business divestiture (24) (0.09) -- -- (24) (0.09)

Income from legal settlement (11) (0.04) -- -- (11) (0.04)

Adjusted Net Income Attributable to PPG $ 472 $ 1.83 $ 2 -- $ 474 $ 1.83

Second Quarter 2016


Transaction-related costs 4 0.02 1 -- 5 0.02

Asset write-downs 8 0.03 -- -- 8 0.03

Gain on sale of equity affiliate (13) (0.05) -- -- (13) (0.05)

Net tax effect of asbestos settlement funding 128 0.48 -- -- 128 0.48


Second Quarter 2015



Business restructuring charge 105 0.39 1 -- 106 0.39


Second Quarter 2014

Net Income Attributable to PPG as Reported $ 386 $ 1.38 $ -- -- $ 386 $ 1.38



Adjusted Net Income/(Loss) Attributable to PPG $ 391 $ 1.40 $ -- -- $ 391 $ 1.40

Second Quarter 2013




2nd Quarter Reporting Period


54




Third Quarter 2017

Net (Loss)/Income Attributable to PPG as Reported $ 392 $ 1.52 $ 217 $ 0.84 $ 609 $ 2.36

Third Quarter 2016

Net (Loss)/Income Attributable to PPG as Reported $ (211) $ (0.79) $ 27 $ 0.10 $ (184) $ (0.69)

Pension settlement charges 616 2.31 -- -- 616 2.31


Third Quarter 2015


Transaction-related costs 1 -- -- -- 1 --



Third Quarter 2014




Legacy environmental reserves 86 0.30 -- -- 86 0.30

Gain on asset sales (59) (0.21) (14) (0.05) (73) (0.26)


Third Quarter 2013


Transaction-related costs 3 0.01 1 -- 4 0.01

Legacy environmental reserves 56 0.19 -- -- 56 0.19

Business restructuring 70 0.24 3 0.01 73 0.25


55

3rd Quarter Reporting Period



56

Continued Operations Discontinued Operations Total PPG

Net Income EPS Net Income EPS Net Income EPSFourth Quarter 2017

Net Income Attributable to PPG as Reported $ 147 $ 0.58 $ -- $ -- $ 147 $ 0.58

Net tax charge for Tax Cuts and Job Act legislation 134 0.52 -- -- 134 0.52

Pension settlement charges 24 0.09 -- -- 24 0.09

Gain on sale of non-operating asset (8) (0.03) (8) (0.03)

Asset write-downs 7 0.03 -- -- 7 0.03

Adjusted Net Income Attributable to PPG $ 304 $ 1.19 $ -- $ -- $ 304 $ 1.19

Fourth Quarter 2016


Business restructuring charge 144 0.55 2 -- 146 0.55

Environmental remediation charge 51 0.20 -- -- 51 0.20

Loss on divestiture of European fiber glass business -- -- 44 0.17 44 0.17

Net gain on disposals of ownership interests in business affiliates (8) (0.04) (25) (0.09) (33) (0.13)

Net tax effect of asbestos settlement trust funding 23 0.09 -- -- 23 0.09

Premium on early retirement of debt 5 0.02 -- -- 5 0.02


Fourth Quarter 2015



Equity affiliate debt refinancing charge 7 0.03 -- -- 7 0.03


Fourth Quarter 2014


Debt refinancing charge 200 0.72 -- -- 200 0.72


Favorable foreign tax ruling (29) (0.11) -- -- (29) (0.11)


Fourth Quarter 2013




4th Quarter Reporting Period



PPG Adjusted Earnings Per Share Trend Reconciliation

Adjusted EPS from Continuing Operations

Period 2014 2015 2016 2017

1Q $0.98 $1.10 $1.23 $1.33

2Q 1.40 1.58 1.73 1.83

3Q 1.33 1.53 1.52 1.52

4Q 0.95 1.14 1.16 1.19

Full Year* $4.67 $5.33 $5.67 $5.87

Year over year percentage increase in EPS

*Full year diluted EPS was calculated using the full year weighted average shares outstanding. As such, the sum of the quarters

may not equal the total EPS for the year.

57

FULL YEAR 2017 2016 2015 2014 2013

Net Earnings as Reported $1,371 $564 $1,405 $1,133 $1,034

Adjustments:

Debt refinancing charge - - - 200 -

Business restructuring charges - 146 106 - 73

Equity affiliate debt refinancing charge - - 7 - -

Transaction-related costs 6 6 32 42 28

Environmental remediation charges - 51 - 86 64

Pension settlement charges 38 616 5 - 13

Tax rulings/law changes 134 - - (24) (10)

Gain on sale of non-operating assets (8) - - (73) -

Gain from a legal settlement (18) - - - -

Loss on divestiture of European fiber glass business - 44 - - -

Net gain on disposals of ownership interest in business

affiliates

(24) (55) - - -

Net tax effect of asbestos settlement funding - 151 - - -

Charge related to early retirement of debt - 5 - - -

Asset write-downs 7 20 - - -

Total Net Adjustments $142 $984 $150 $231 $168

Adjusted Net Earnings $1,513 $1,548 $1,555 $1,364 $1,202

Adjusted Net Earnings

Amounts in Millions of USD – Not adjusted for business divestitures for comparative purposes

58

FULL YEAR 2012 2011 2010 2009 2008

Net Earnings as Reported $941 $1,095 $769 $336 $538

Adjustments:

Business restructuring charge 163 - - 141 110

Pension settlement charge - - 85 - -

Divestiture-related costs - - - - 9

Transaction-related costs 27 - - - 100

Environmental remediation charges 99 - - - -

Legal Settlement - - - - -

Debt Refinancing - - - - -

Impairments/Other - - - - -

Total Net Adjustments $289 - $85 $141 $219

Adjusted Net Earnings $1,230 $1,095 $854 $477 $757

Adjusted Net Earnings

59

Amounts in Millions of USD – Not adjusted for business divestitures for comparative purposes

FULL YEAR2017 2016 2015 2014 2013

Adjusted Net Earnings $1,513 $1,548 $1,555 $1,364 $1,202

Net Interest Expense (after-tax) 80 94 95 143 149

Adjusted Net Earnings + Net Interest

Expense

$1,593 $1,642 $1,650 $1,507 $1,351

Capital (Average Debt & Average Equity)

as Reported

$9,473 $9,334 $9,515 $9,200 $8,212

Net Adjustment (see Net Earnings

Reconciliations)

142 984 150 231 168

Adjusted Average Capital** $9,908 $9,841 $9,603 $9,383 $8,395

Adjusted Return on Capital 16.1% 16.7% 17.2% 16.0% 16.1%

Adjusted Return on Capital

60

Amounts in Millions of USD, except percentages - Not adjusted for business divestitures for comparative purposes

**This table does not foot due to the rounding effect of Net Adjustments

FULL YEAR2012 2011 2010 2009 2008

Adjusted Net Earnings $1,230 $1,095 $854 $477 $757

Net Interest Expense (after-tax) 157 158 140 135 175

Adjusted Net Earnings + Net Interest

Expense

$1,387 $1,253 $994 $612 $932

Capital (Average Debt & Average Equity)

as Reported

$7,371 $7,526 $6,685 $7,088 $8,053

Net Adjustment (see Net Earnings

Reconciliations)

289 - 85 141 219

Adjusted Average Capital** $7,592 $7,526 $6,753 $7,237 $8,272

Adjusted Return on Capital 18.3% 16.6% 14.0% 8.5% 11.3%

Adjusted Return on Capital

Amounts in Millions of USD, except percentages - Not adjusted for business divestitures for comparative purposes

**This table does not foot due to the rounding effect of Net Adjustments

61

2017 Quarterly Financial Results by Reportable Segment

PPG INDUSTRIES AND CONSOLIDATED SUBSIDIARIES (Continuing Operations)

BUSINESS SEGMENT INFORMATION (unaudited)

Q1 Q2 Q3 Q4 Full Year

2017 2017 2017 2017 2017

Net sales

Performance Coatings $ 2,017 $ 2,301 $ 2,290 $ 2,124 $ 8,732

Industrial Coatings 1,469 1,505 1,486 1,558 6,018

TOTAL $ 3,486 $ 3,806 $ 3,776 $ 3,682 $ 14,750

Segment income

Performance Coatings $ 285 $ 413 $ 365 $ 260 $ 1,323

Industrial Coatings 273 264 223 212 972

TOTAL 558 677 588 472 2,295

Items not allocated to segments

Legacy items (8) 5 - 2 (1)

Transaction-related costs (4) (5) - - (9)

Pension settlement charges (22) - - (38) (60)

Gain on sale of Mexican Plaka business - 25 - - 25

Income from a legal settlement - 18 - - 18

Gain from sale of a non-operating asset - - - 13 13

Asset write-downs - - - (7) (7)

Interest expense, net of interest income (21) (22) (22) (20) (85)

Other corporate expense (63) (27) (45) (46) (181)

INCOME BEFORE INCOME TAXES $ 440 $ 671 $ 521 $ 376 $ 2,008

Amounts in Millions of USD

62

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Thank you for your interest in PPG

Industries, Inc.

Contact Information:

Investors:

John Bruno

(412) 434-3466

63