PPG Industries — Jan 30, 2025 release

• The reported effective tax rate on continuing operations was 86% for the fourth quarter, as certain business restructuring-related costs and portfolio optimization items did not have a tax benefit. The adjusted effective tax rate was 22% for the fourth quarter. Outlook The company anticipates that adjusted earnings per share for the full year 2025 will be in the range of $7.75 to $8.05, which at the mid-point represents EPS growth of 7% excluding the impact of foreign currency translation and a higher tax rate. This range is based on current global economic activity and foreign exchange rates, ongoing soft global industrial production, and mixed demand across the various regions in which we operate. The company expects that annual EPS growth will be weighted toward the second half of 2025 as global industrial demand weakened and the U.S. dollar strengthened in the second half of 2024. Additionally, we expect to realize more than $100 million in annualized share gains in our Industrial Coatings segment beginning in the second half of the year. Additional information related to 2025 financial projections is posted within the slides and prepared commentary associated with the fourth quarter earnings documents on the Investors section of PPG.com. The term organic sales as used in this press release is defined as net sales excluding the impact of currency, acquisitions and divestitures. PPG: WE PROTECT AND BEAUTIFY THE WORLD® At PPG (NYSE:PPG), we work every day to develop and deliver the paints, coatings and specialty materials that our customers have trusted for mo