PPG Industries — Oct 28, 2025 release

However, global demand has softened compared to earlier this year and we expect some customer inventory management in automotive refinish coatings as we end the year. As a result, our revised full-year earnings per share guidance is $7.60 to $7.70. I am excited about the organic growth momentum we have demonstrated as we benefit from our sharpened portfolio of technology-differentiated products and services which is delivering positive selling prices and volumes in 2025. The focus we have put on operational excellence, investing in innovation, and driving share gains, along with our heritage of cash generation, supports our strategy to deliver sustainable top-line and bottom-line growth. Thank you to our PPG team around the world who make it happen and deliver on our purpose every day: We protect and beautify the world®. Additional Financial Information • Net sales in the quarter increased 1% year over year including benefits from sales volume growth of 1%, higher selling prices of 1%, and positive foreign currency translation of 2% offset by business divestitures which reduced sales by 3%. • At quarter end, the company had cash and short-term investments totaling $1.9 billion. Net debt was $5.4 billion, an increase of $228 million from the third quarter 2024. • The company has a €600 million debt maturity due in the fourth quarter 2025. • Corporate expenses were $73 million in the third quarter. • Third quarter net interes