PPG Industries Employee Savings Plan

Supplemental Schedule

Form 5500, Schedule H, Part IV, Line 4i - Schedule of Assets (Held at End of Year)

As of December 31, 2025

($ in millions)

(a)

(b)
Identity of Issue, Borrower, Lessor or Similar Party

(e)
Current Value

Mutual funds — at fair value:

Baillie Gifford Emerging Markets Fund

Mutual Fund

JP Morgan Equity Income Fund

Mutual Fund

Investment in PPG Industries, Inc. common stock — at fair value

Common Stock

334

Money market funds — at fair value:

Fidelity Government Cash Reserves

Cash equivalent

Fidelity Government Portfolio

Cash equivalent

Common-collective trusts — at fair value:

Allspring Special Small Cap Value Fund

Common-collective trust

Artisan Small Cap Growth Trust

Common-collective trust

BlackRock Equity Index Fund

Common-collective trust

701

BlackRock Lifepath Index 2030 Fund

Common-collective trust

164

BlackRock Lifepath Index 2035 Fund

Common-collective trust

146

BlackRock Lifepath Index 2040 Fund

Common-collective trust

135

BlackRock Lifepath Index 2045 Fund

Common-collective trust

102

BlackRock Lifepath Index 2050 Fund

Common-collective trust

113

BlackRock Lifepath Index 2055 Fund

Common-collective trust

BlackRock Lifepath Index 2060 Fund

Common-collective trust

BlackRock Lifepath Index 2065 Fund

Common-collective trust

BlackRock Lifepath Index Retirement Fund

Common-collective trust

194

BlackRock TIPS Index Fund

Common-collective trust

BlackRock Total Return Bond Fund

Common-collective trust

BNY Mellon Aggregate Bond Index Fund

Common-collective trust

122

BNY Mellon Capital Small Cap Stock Index Fund

Common-collective trust

124

BNY Mellon SL ACWI ex-U.S.Fund

Common-collective trust

197

Fidelity Contrafund Commingled Pool

Common-collective trust

385

Fidelity Growth Company Commingled Pool

Common-collective trust

532

MFS International Equity Fund

Common-collective trust

Stable value fund - at market value:

U.S. Government Obligations - at market value:

US Treasury Note 3.50% 11/15/2028

U.S. Government Obligation

US Treasury Note 3.63% 08/31/2027

U.S. Government Obligation

US Treasury Note 3.63% 08/31/2029

U.S. Government Obligation

US Treasury Note 3.625% 08/31/2030

U.S. Government Obligation

US Treasury Note 3.625% 10/31/2030

U.S. Government Obligation

US Treasury Note 3.625% 12/31/2030

U.S. Government Obligation

US Treasury Note 3.75% 12/31/2028

U.S. Government Obligation

US Treasury Note 4% 01/31/2029

U.S. Government Obligation

US Treasury Note 4% 03/31/2030

U.S. Government Obligation

US Treasury Note 4% 05/31/2030

U.S. Government Obligation

US Treasury Note 4% 06/30/2028

U.S. Government Obligation

US Treasury Note 4.125% 07/31/2028

U.S. Government Obligation

US Treasury Note 4.125% 11/30/2029

U.S. Government Obligation

US Treasury Note 4.375% 12/31/2029

U.S. Government Obligation

Total U.S. Government Obligations

234

Corporate Debt - at market value:

ALPHABET INC 3.875% 11/15/2028

Corporate Debt

ALPHABET INC 4.1% 11/15/2030

Corporate Debt

AMERICAN EXPRESS CO 5.098%/VAR 02/16/2028

Corporate Debt

ASTRAZENECA FINANCE LLC 4.8% 02/26/2027

Corporate Debt

ATHENE GLOBAL FUNDING 5.339% 01/15/2027 144A

Corporate Debt

ATHENE GLOBAL FUNDING 5.516% 03/25/2027 144A

Corporate Debt

BANCO SANTANDER SA 1.722%/VAR 09/14/2027

Corporate Debt

BANK OF AMERICA CORPORATION 2.551%/VAR 02/04/2028

Corporate Debt

BANK OF AMERICA CORPORATION 4.623%/VAR 05/09/2029

Corporate Debt

BANK OF AMERICA CORPORATION 4.948%/VAR 07/22/2028

Corporate Debt

BANK OF MONTREAL QUE 5.37% 06/04/2027

Corporate Debt

BANK OF NEW YORK MELLON 4.729%/VAR 04/20/2029

Corporate Debt

BANK OF NOVA SCOTIA 5.4% 06/04/2027

Corporate Debt

BANQUE FED CRED MUTUEL PARIS 5.088% 01/23/2027 144A

Corporate Debt

BANQUE FED CRED MUTUEL PARIS 5.194% 02/16/2028 144A

Corporate Debt

BROADCOM INC 4.2% 10/15/2030

Corporate Debt

CANADIAN IMPERIAL BK OF COMM 5.237% 06/28/2027

Corporate Debt

CIGNA GROUP (THE) 3.4% 03/01/2027

Corporate Debt

CISCO SYSTEMS INC 4.8% 02/26/2027

Corporate Debt

CITIBANK NA 4.576% 05/29/2027

Corporate Debt

CITIGROUP INC 3.07%/VAR 02/24/2028

Corporate Debt

COOPERATIEVE RABOBANK UA 1.98%/VAR 12/15/2027 144A144A

Corporate Debt

COREBRIDGE GBL FUNDING 4.65% 08/20/2027 144A

Corporate Debt

COREBRIDGE GBL FUNDING 4.85% 06/06/2030 144A

Corporate Debt

COREBRIDGE GBL FUNDING 4.9% 01/07/2028 144A

Corporate Debt

DAIMLER TRUCKS FINANCE NORTH AMERICA LLC 2% 12/14/2026 144A

Corporate Debt

DEUTSCHE BANK AG NEW YORK BNCH 4.469%/VAR 12/10/2031

Corporate Debt

DNB BANK ASA 1.535%/VAR 05/25/2027 144A

Corporate Debt

DNB BANK ASA 1.605%/VAR 03/30/2028 144A

Corporate Debt

DNB BANK ASA 4.384%/VAR 11/04/2031 144A

Corporate Debt

DUKE ENERGY CAROLINAS LLC 4.85% 03/15/2030

Corporate Debt

DUKE ENERGY FLORIDA LLC 4.2% 12/01/2030

Corporate Debt

EQUITABLE AMERICA GLOBAL FUNDING 4.65% 06/09/2028144A

Corporate Debt

EQUITABLE AMERICA GLOBAL FUNDING 4.95% 06/09/2030144A

Corporate Debt

EQUITABLE FINANCIAL LIFE GLOBAL FUNDING 1.3% 07/12/2026 144A

Corporate Debt

EQUITABLE FINANCIAL LIFE GLOBAL FUNDING 4.6% 04/01/2027 144A

Corporate Debt

EQUITABLE FINANCIAL LIFE GLOBAL FUNDING 5% 03/27/2030 144A

Corporate Debt

GOLDMAN SACHS GROUP INC (THE) 2.64%/VAR 02/24/2028

Corporate Debt

GOLDMAN SACHS GROUP INC (THE) 4.482%/VAR 08/23/2028

Corporate Debt

GOLDMAN SACHS GROUP INC (THE) 4.937%/VAR 04/23/2028

Corporate Debt

GUARDIAN LIFE GLOBAL FUNDING 1.4% 07/06/2027 144A

Corporate Debt

HSBC HOLDINGS PLC 4.619%/VAR 11/06/2031

Corporate Debt

HSBC HOLDINGS PLC 4.899%/VAR 03/03/2029

Corporate Debt

HSBC HOLDINGS PLC 5.21%/VAR 08/11/2028

Corporate Debt

HUNTINGTON NATL BK COLUMBUS OH 4.552%/VAR 05/17/2028

Corporate Debt

HYUNDAI CAP AMER 4.3% 09/24/2027 144A

Corporate Debt

ING GROEP NV 5.335%/VAR 03/19/2030

Corporate Debt

INTERCONTINENTAL EXCHANGE INC 4% 09/15/2027

Corporate Debt

JACKSON NATL LIFE GLOBAL FDG 4.6% 10/01/2029 144A

Corporate Debt

JACKSON NATL LIFE GLOBAL FDG 4.7% 06/05/2028 144A

Corporate Debt

JACKSON NATL LIFE GLOBAL FDG 5.35% 01/13/2030 144A

Corporate Debt

JAPAN TOBACCO INC 4.85% 05/15/2028 144A

Corporate Debt

JERSEY CENTRAL POWR & LIGHT CO 4.4% 01/15/2031 144A

Corporate Debt

JPMORGAN CHASE & CO 2.947%/VAR 02/24/2028

Corporate Debt

JPMORGAN CHASE & CO 4.255%/VAR 10/22/2031

Corporate Debt

JPMORGAN CHASE & CO 4.851%/VAR 07/25/2028

Corporate Debt

JPMORGAN CHASE & CO 5.571%/VAR 04/22/2028

Corporate Debt

LLOYDS BANKING GROUP PLC 4.375% 03/22/2028

Corporate Debt

LLOYDS BANKING GROUP PLC 4.818%/VAR 06/13/2029

Corporate Debt

MARS INC 4.6% 03/01/2028 144A

Corporate Debt

MASSMUTUAL GLOBAL FDG II 4.85% 01/17/2029 144A

Corporate Debt

MERCEDES-BENZ FINANCE NORTH AMERICA LLC 4.8% 08/01/2029 144A

Corporate Debt

MET TOWER GLOBAL FUNDING 4% 10/01/2027 144A

Corporate Debt

MET TOWER GLOBAL FUNDING 4.2% 09/16/2030 144A

Corporate Debt

META PLATFORMS INC 4.2% 11/15/2030

Corporate Debt

MIZUHO FINL GROUP INC 4.711%/VAR 07/08/2031

Corporate Debt

MORGAN STANLEY 1.512%/VAR 07/20/2027

Corporate Debt

MORGAN STANLEY 4.133%/VAR 10/18/2029

Corporate Debt

MORGAN STANLEY 5.042%/VAR 07/19/2030

Corporate Debt

MORGAN STANLEY BK NA SALT LAKE 5.016%/VAR 01/12/2029

Corporate Debt

MORGAN STANLEY PRIVATE BANK NA 4.465%/VAR 11/19/2031

Corporate Debt

NATIONAL BANK OF CANADA 4.5% 10/10/2029

Corporate Debt

NATWEST GROUP PLC 5.115%/VAR 05/23/2031

Corporate Debt

NATWEST MARKETS PLC 5.416% 05/17/2027 144A

Corporate Debt

NORDEA BANK ABP 4.375% 09/10/2029 144A

Corporate Debt

PACIFIC LIFE GF II 4.5% 08/28/2029 144A

Corporate Debt

PNC FINANCIAL SERVICES GRP INC 5.354%/VAR 12/02/2028

Corporate Debt

PRICOA GLOBAL FDG I 4.7% 05/28/2030 144A

Corporate Debt

RGA GLOBAL FUNDING 4.35% 08/25/2028 144A

Corporate Debt

RGA GLOBAL FUNDING 5.448% 05/24/2029 144A

Corporate Debt

SAMMONS FINANCIAL GROUP GLOBAL FUNDING 5.05% 01/10/2028 144A

Corporate Debt

SAMMONS FINANCIAL GROUP GLOBAL FUNDING 5.1% 12/10/2029 144A

Corporate Debt

SIMON PROPERTY GROUP LP 4.375% 10/01/2030

Corporate Debt

STATE STREET CORP 2.203%/VAR 02/07/2028

Corporate Debt

STATE STREET CORP 4.53%/VAR 02/20/2029

Corporate Debt

TORONTO DOMINION BANK 4.783% 12/17/2029

Corporate Debt

TRUIST FINANCIAL CORP 5.071%/VAR 05/20/2031

Corporate Debt

US BANCORP DEL 2.215%/VAR 01/27/2028

Corporate Debt

VIRGINIA ELECTRIC AND POWER CO 3.75% 05/15/2027

Corporate Debt

VOLKSWAGEN GROUP AMER FIN LLC 3.2% 09/26/2026 144A

Corporate Debt

VOLKSWAGEN GROUP AMER FIN LLC 4.35% 06/08/2027 144A

Corporate Debt

WELLS FARGO & CO NEW 3.526%/VAR 03/24/2028

Corporate Debt

WELLS FARGO & CO NEW 4.808%/VAR 07/25/2028

Corporate Debt

WELLS FARGO & CO NEW 4.97%/VAR 04/23/2029

Corporate Debt

WELLS FARGO & CO NEW 5.244%/VAR 01/24/2031

Corporate Debt

WESTERN-SOUTHERN GLOBAL FUNDING 4.5% 07/16/2028 144A

Corporate Debt

Total Corporate Debt

109

Mortgage-Backed Securities - at market value:

BX COML MTG TR 2024-GPA3 A TSFR1M+149.25 12/15/2029 144A

Mortgage-Backed Security

FEDERAL NAT MTG ASN GTD REM 2011-26 PA 4.5% 04/25/2041

Mortgage-Backed Security

FEDERAL NAT MTG ASN GTD REM 2017-97 P 3% 01/25/2047

Mortgage-Backed Security

FHLG 15YR 2.5% 12/01/2031#SB0093

Mortgage-Backed Security

FHLG 20YR 3% 11/01/2033#G30872

Mortgage-Backed Security

FHLG 5.50% 3/34 #G01665

Mortgage-Backed Security

FNMA 6.50% 7/35 #745092

Mortgage-Backed Security

FNMA 15YR 2.5% 01/01/2028#FS3867

Mortgage-Backed Security

FNMA 15YR 2.5% 01/01/2029#

Mortgage-Backed Security

FNMA 15YR 2.5% 10/01/2031#AS8010

Mortgage-Backed Security

FNMA 20YR 4.5% 06/01/2039#FM1045

Mortgage-Backed Security

FNMA 20YR 4.5% 08/01/2039#FM1353

Mortgage-Backed Security

FNMA 6.50% 8/36 #888034

Mortgage-Backed Security

FNMA 6.50% 8/36 #888544

Mortgage-Backed Security

FNR 2017-20 AP 3.5% 03/25/2045

Mortgage-Backed Security

LIFE FINANCIAL SERVICES TRUST 2022 TSFR1M+129.52405/15/2039 144A

Mortgage-Backed Security

SREIT TR 2021-MFP TSFR1M+84.528 08 11/15/2038 144A

Mortgage-Backed Security

Total Mortgage-Backed Securities

Asset-Backed Securities - at market value

AMERICAN EXPRESS CR ACC MST TR 5.23% 04/15/20292029

Asset-Backed Security

BA CR CARD TR 4.31% 05/15/2030

Asset-Backed Security

BMW VEHICLE LEASE TRUST 2025-1 4.43% 06/26/2028

Asset-Backed Security

CAPITAL ONE PRIME AUTO RECEIVABLES TR 2024-1 4.62%16-Jul-2029

Asset-Backed Security

CAPITAL ONE PRIME AUTO RECEIVABLES TRUST 2023-2 5.82% 06/15/2028

Asset-Backed Security

CARMAX AUTO OWNER TRUST 2024-1 4.92% 10/16/2028

Asset-Backed Security

CARVANA AUTO RECEIVABLES TR 2025-P3 A3 4.04% 11/11/2030

Asset-Backed Security

CARVANA AUTO RECEIVABLES TRUST 2025-P2 4.55% 08/12/2030

Asset-Backed Security

CHASE AUTO OWNER TRUST 5.22% 07/25/2029 144A

Asset-Backed Security

CHASE ISSUANCE TR 4.16% 07/15/2030

Asset-Backed Security

CHASE ISSUANCE TR 5.08% 09/15/2030

Asset-Backed Security

CITIBANK CR CARD ISSUANCE TR 4.3% 06/21/2030

Asset-Backed Security

CITIZENS AUTO RECEIVABLES TRUST 2024-1 5.11% 04/17/2028 144A

Asset-Backed Security

DAIMLER TRUCKS RETAIL TRUST 2024-1 5.49% 12/15/2027

Asset-Backed Security

DLLMT 2024-1 LLC 4.84% 08/21/2028 144A

Asset-Backed Security

FORD CR FLOORPLN MAST OWN TR A 5.29% 04/15/2029 144A

Asset-Backed Security

FORD CREDIT AUTO OWNER TRUST 2024-D 4.84% 08/15/2029

Asset-Backed Security

FORDF 2025-1 A1 4.63% 04/15/2030

Asset-Backed Security

HUNTINGTON AUTO TR 2024-1 5.23% 01/16/2029 144A

Asset-Backed Security

HYUNDAI AUTO RECEIVABLES TRUST 25-B 4.36% 12/17/2029

Asset-Backed Security

MERCEDES-BENZ AUTO LEASE TRUST 2025-A 4.61% 04/16/2029

Asset-Backed Security

NISSAN MASTER OWNER TR RECEIVABLE 5.05% 02/15/2029144A

Asset-Backed Security

TESLA ELEC VEH TR 2023-1 5.38% 06/20/2028 144A

Asset-Backed Security

T-MOBILE US TRUST 2025-2 4.34% 04/22/2030 144A

Asset-Backed Security

VERIZON MASTER TRUST 4.62% 11/20/2030

Asset-Backed Security

VOLKSWAGEN AUTO LOAN ENHANCED TRUST 2023-2 5.48% 12/20/2028

Asset-Backed Security

VOLKSWAGEN AUTO LOAN ENHANCED TRUST 2024-1 4.63% 07/20/2029

Asset-Backed Security

WELLS FARGO CARD ISSUANCE TRUST 4.34% 05/15/2030

Asset-Backed Security

WHEELS FLEET LEASE FUNDING 1 LLC 25-3A A1 0% 09/18/2040 144A

Asset-Backed Security

WHEELS FLEET LEASE FUNDING 1 LLC 4.41% 05/18/2040144A

Asset-Backed Security

WORLD OMNI AUTO RECEIVABLES TR 2023-D 5.79% 02/15/2029

Asset-Backed Security

WORLD OMNI AUTO RECEIVABLES TR 2024-A 4.86% 03/15/2029

Asset-Backed Security

WORLD OMNI AUTO RECEIVABLES TR 2024-B 5.27% 09/17/2029

Asset-Backed Security

Total Asset-Backed Securities

Fidelity Investments Money Market Government Portfolio - Institutional Class

Cash and cash equivalent

Total Stable Value Fund at market value

403

Loans to participants with interest rates ranging from 3.25% to 10.50% and maturity dates through November 2055*

Total

4,172

(d) Cost information is omitted as all investments are participant-directed

* Party-in-interest