1) Strategy & Leadership - PPG's CEO, Tim Knavish, highlighted the company's solid performance in Q1 2026, achieving organic sales growth of 1% and net sales of $3.9 billion, up 7% YoY. - The company is focused on maintaining growth momentum despite a challenging macro environment, with strong contributions from the aerospace and PPG-Comex businesses. - PPG is undergoing a leadership transition with the retirement of CFO Vince Morales and the appointment of Jamie Beggs as the new CFO.

2) Financial & Segment Results - Q1 2026 Financial Highlights: | Metric | Q1 2026 | YoY Change | |---------------------------|-------------|------------| | Net Sales | $3.9 billion| +7% | | Adjusted EPS | $1.83 | +6% | | Segment EBITDA Margin | 19% | - |

• Segment Performance:
• Global Architectural Coatings: Net sales rose 13% to $965 million, with a 2% organic growth. EBITDA margins increased by 230 basis points YoY.
• Performance Coatings: Net sales grew 5% to $1.3 billion, driven by aerospace and protective coatings, despite a decline in automotive refinish sales.
• Industrial Coatings: Net sales increased 4% to $1.6 billion, with flat organic sales. The segment faced challenges due to lower automotive production in China.

3) Problems / Headwinds - PPG is experiencing inflationary pressures due to rising costs of raw materials, energy, and logistics, exacerbated by geopolitical tensions. - The automotive refinish segment is expected to see volume declines in the second quarter due to prior strong order patterns, although recovery is anticipated in the second half of 2026. - The company is navigating mixed demand in European architectural coatings, with some countries showing declines.

4) Operational or Product Plans - PPG plans to close four manufacturing plants in Europe in the second half of 2026, expected to reduce fixed costs by approximately $25 million annually. - The aerospace segment is positioned for growth, with a backlog of about $350 million and continued investments to enhance productivity. - The company is focused on proactive pricing strategies to offset rising costs, aiming for a price realization that is quicker than in previous inflation cycles.

5) Guidance & Outlook / Investor Angle - PPG reaffirmed its full-year 2026 EPS guidance of $7.70 to $8.10, indicating confidence in its ability to navigate current challenges. - For Q2 2026, the company expects organic sales growth to be flat to positive low single digits, with strong contributions from aerospace and architectural coatings in Latin America. - The company is committed to maximizing shareholder value through dividends and share repurchases, while also pursuing strategic investments in high-growth areas.

Bottom line: PPG's solid Q1 performance, driven by strategic pricing and strong segments like aerospace, positions it well for continued growth despite macroeconomic challenges. The company's proactive measures and leadership transition are expected to enhance shareholder value moving forward.