During the first quarter 2024, PPG announced that it would review strategic alternatives for its architectural coatings U.S. and Canada business and its global silicas products business. PPG will assess whether some or all of these businesses are better suited to grow faster with a partner or different owner.

In the third quarter, PPG expects demand in Mexico to remain robust and consumer sentiment in Europe to be tepid. We anticipate continued strong demand in aerospace coatings and a benefit of summer seasonal sales in traffic solutions.

Automotive refinish coatings sales are expected to benefit from incremental price increases and improved sales volume. Aggregate organic sales are anticipated to increase by a mid-single-digit percentage compared to the third quarter 2023.

Aggregate restructuring savings were approximately $10 million in the second quarter 2024. Total restructuring savings are expected to be at least $35 million in 2024. In addition, the Company continues to review its cost structure to identify additional cost savings opportunities.

PPG intends to vigorously enforce its rights and Westlake's obligations under the 2012 Separation Agreement and to hold Westlake accountable for any damages PPG suffers as a result of Westlake's refusal to honor its contractual obligations.

Total capital spending is expected to be approximately $600 million to $650 million in 2024 in support of future organic growth opportunities.

PPG recently learned that Westlake failed ever to substitute itself into the case in place of PPG, remove PPG as the obligor, or otherwise inform the Brazilian court that it is the party in interest that assumed all liability for the matter.

PPG is involved in a number of lawsuits and claims, both actual and potential, including some that it has asserted against others, in which substantial monetary damages are sought.

Many factors could cause actual results to differ materially from the Company's forward-looking statements. Such factors include statements related to the expected effects on our business of COVID-19, global economic conditions, geopolitical issues in Europe, increasing price and product competition by our competitors, fluctuations in cost and availability of raw materials, energy, labor and logistics, the ability to achieve selling price increases, the ability to recover margins, customer inventory levels, PPG inventory levels, our ability to maintain favorable supplier relationships and arrangements, the timing of and the realization of anticipated cost savings from restructuring initiatives, the ability to identify additional cost savings opportunities, the timing and expected benefits of our acquisitions, difficulties in integrating acquired businesses and achieving expected synergies therefrom, the amount of future share repurchases, economic and political conditions in the markets we serve, the ability to penetrate

Architectural coatings - Americas and Asia Pacific net sales, excluding the impact of currency, acquisitions and divestitures ("organic sales") increased by a low single-digit percentage compared to the prior-year second quarter driven by increased sales volumes in the U.S. and Latin America and higher prices.

Aerospace coatings organic sales increased by a double-digit percentage compared to the second quarter 2023, driven by higher price and sales volumes. Demand remained strong as customer order backlogs increased.

Protective and marine coatings organic sales were flat compared with the prior-year second quarter due to higher sales volumes in Europe and the Asia Pacific region offset by lower sales volumes in other regions.

Cost of sales, exclusive of depreciation and amortization, decreased $132 million primarily due to moderating raw material costs.

Selling, general and administrative expense increased $8 million primarily due to wage inflation and growth-related investments.

Aggregate restructuring savings were approximately $10 million in the second quarter 2024. Total restructuring savings are expected to be at least $35 million in 2024.

No specific information on Innovation & Technology

The Company repurchased 1,145,966 shares of its common stock during the three months ended June 30, 2024.

Total capital spending is expected to be approximately $600 million to $650 million in 2024 in support of future organic growth opportunities.

In April 2024, PPG's Board of Directors authorized the repurchase of an additional $2.5 billion of outstanding common stock.

In the second quarter 2024, the Company recognized pretax environmental remediation charges of $20 million related to certain legacy PPG manufacturing sites. These legacy environmental remediation charges primarily relate to an increase in the expected cost of groundwater remediation and monitoring at the New Jersey Chrome site and a remedial action design change for the solid waste disposal area at the Ford City, Pennsylvania site.

PPG regularly evaluates the assessments of costs incurred to date versus current progress and the potential cost impacts of the most recent information, including the extent of impacted soils and groundwater, and engineering, administrative and other associated costs.

As also discussed in Note 13, PPG has significant reserves for environmental contingencies. Refer to the Environmental Matters section of Note 13 for details of these reserves.

Net sales decreased $78 million due to the unfavorable foreign currency translation

Automotive industry build rates are expected to decline in the third quarter with growth in Latin America more than offset by declining builds in all other regions.

In the third quarter, global industrial production is expected to remain at a low level with improvement in the Asia Pacific and Latin America regions offset by sluggishness in Europe and the U.S.