SHERWIN WILLIAMS Business Summary

Sherwin-Williams (SHW) operates a vertically integrated business model centered on the development, manufacturing, and distribution of paints, coatings, and related products to professional, industrial, and retail customers. Revenue is primarily transaction-based, generated through three core reporting segments: the Paint Stores Group, which manages over 5,000 company-operated retail locations; the Consumer Brands Group, which services third-party retailers with a portfolio of branded and private-label products; and the Performance Coatings Group, providing specialized industrial finishes for the automotive, aerospace, and packaging sectors. As of February 2026, Sherwin-Williams maintains its status as the dominant player in the North American architectural coatings market. It competes directly with PPG Industries, AkzoNobel, and RPM International, leveraging its proprietary store network to maintain higher margins and deeper contractor relationships than its wholesale-dependent competitors. The leadership team is headed by Heidi G. Petz, who serves as President and Chief Executive Officer, having succeeded John G. Morikis in early 2024. Petz, who previously led the company’s Consumer Brands and Americas groups, is supported by Justin T. Binns, President and Chief Operating Officer, and Allen J. Mistysyn, Senior Vice President and Chief Financial Officer, both of whom possess decades of operational experience within the firm. John G. Morikis remains active as Executive Chairman, providing strategic continuity for the board. The company’s governance is bolstered by a board featuring high-caliber industrial leaders, including Jeff M. Fettig (former Whirlpool CEO) and Marta R. Stewart (former Norfolk Southern CFO). Sherwin-Williams continues to be a core holding for major institutional investors, including Vanguard and BlackRock, reflecting its consistent performance as a Dividend Aristocrat with over 45 years of consecutive dividend increases.