PPG Industries — Oct 16, 2024 release

6 alejandrolopez@ppg.com investor.ppg.com PPG reports third quarter 2024 financial results • Record reported earnings per diluted share (EPS) of $2.00 and adjusted EPS of $2.13 • Net sales of $4.6 billion; organic sales flat versus prior year • Segment margins improved 60 basis points year over year, marking eight consecutive quarters of margin expansion • Share repurchases of approximately $200 million in the quarter; $500 million year to date PITTSBURGH, October 16, 2024 – PPG (NYSE:PPG) today reported financial results for the third quarter 2024. Third Quarter Consolidated Results $ in millions, except EPS 3Q 2024 3Q 2023 YOY change Net sales $4,575 $4,644 (1)% Net income $468 $426 +10% Adjusted net income (a) $500 $493 +1% EPS $2.00 $1.79 +12% Adjusted EPS (a) $2.13 $2.07 +3% (a) Reconciliations of reported to adjusted figures are included below Chairman and CEO Comments Tim Knavish, PPG chairman and chief executive officer, commented on the quarter: We delivered record third quarter EPS driven by positive volume growth in seven of our ten businesses, including strong growth in several of our key technology businesses and despite deterioration in automotive original equipment manufacturer (OEM) build rates during the quarter. Our reported EPS was $2.00, and adjusted EPS of $2.13 grew 3% year over year even with an unfavorable impact from a higher effective income tax rate, which reduced the year-o