Sherwin-Williams Celebrates Official Start of New Global Headquarters Construction

One-million-square-foot facility in downtown Cleveland expected to open in 2024.

The Sherwin-Williams Company (NYSE: SHW) is pleased to announce that it held a virtual celebration to mark the official start of construction for the Company's new global headquarters.

The 1,000,000 square-foot facility will be located in downtown Cleveland, Ohio and will include a two-story pavilion acting as the front porch to Public Square, a 36-floor office tower and an attached multi-level parking garage.

"Today's event represents a significant milestone in this transformational project," said John G. Morikis, Sherwin-Williams Chairman, President and Chief Executive Officer. "As construction workers, equipment and materials have been arriving at our building site in the heart of the city, we could not be more excited about the investment we are making in the future of our Company and the future of Cleveland. We are creating a next-generation workplace to serve our customers, retain and attract employees, as well as offer opportunities to celebrate the Sherwin-Williams brand and act as a catalyst for future development in and around our new campus."

The new headquarters is part of the Company's comprehensive Building Our Future project, which also includes construction of a new 600,000 square foot Research & Development (R&D) Center in Brecksville, Ohio which officially broke ground in October 2021. Sherwin-Williams plans to invest a minimum of $600 million to build both the headquarters and R&D facility.

"Attracting and retaining organizations like Sherwin-Williams is critical to the short- and long-term success of our city, region and our surrounding communities," said Cleveland Mayor Justin M. Bibb. "We applaud the decision Sherwin-Williams made to further invest in Cleveland and in Northeast Ohio by building world class facilities for the workforce of the future. Their steadfast commitment to the area is an example of how the City of Cleveland will further establish itself as a destination for investment, job creation and top talent recruitment."

Together, the two facilities will house more than 3,500 employees with room to accommodate future growth. Sherwin-Williams estimates it will add a minimum of 400 jobs at these facilities over time, an increase of 11 percent to the Company's current local workforce. Many of these jobs will include professional staff, engineers and chemists.

"The positive economic impact generated from Sherwin-Williams over these past many decades is unprecedented," said Cleveland Council President Blaine Griffin. "Sherwin-Williams continues to be an important part of Cleveland and Northeast Ohio through their ability to provide good jobs, strong community support and robust economic activity for years to come."

"We have been incredibly fortunate to have Sherwin-Williams be part of our community for more than 155 years," added Ohio State Senator Sandra Williams. "Together, the new headquarters and R&D Center will have significant and long-lasting impact on our region. This project represents a successful public/private partnership whereby the State of Ohio, JobsOhio, Cuyahoga County, the Cleveland-Cuyahoga County Port Authority, the City of Cleveland and the City of Brecksville all worked together with Sherwin-Williams to provide support in the way of economic development packages which, in part, reflect the retention and addition of a significant number of jobs."

In addition to Mayor Bibb and Council President Griffin, Sherwin-Williams was honored to have additional public and private dignitaries provide remarks at the ceremony. They included U.S. Representative Shontel Brown, Ohio State Representative Terrence Upchurch, Cleveland City Councilman Kerry McCormack and architect Bill Chilton of Pickard Chilton. Ohio State Senator Williams was unable to attend due to a last-minute scheduling conflict.

The new global headquarters is expected to open by the end of 2024 and is projected to generate 4,000 construction jobs.

Sherwin-Williams has extended its corporate inclusion, diversity and equity commitment to the construction of the two facilities. The Company has developed and is executing a strategic, intentional and fair process to include minority-owned, female-owned and small businesses that has already resulted in the awarding of multiple contracts totaling in the millions of dollars. Sherwin-Williams continues to work proactively with community, city, county and state leaders, local organizations and trade partners to identify further opportunities for involvement and also expects to provide considerable diverse workforce opportunities on the project over the next three years.

For ongoing updates on the Company's new global headquarters and new R&D Center, please visit buildingourfuture.com.

About the Sherwin-Williams Company

Founded in 1866, The Sherwin-Williams Company is a global leader in the manufacture, development, distribution, and sale of paint, coatings and related products to professional, industrial, commercial, and retail customers. The Company manufactures products under well-known brands such as Sherwin-Williams®, Valspar®, HGTV HOME® by Sherwin-Williams, Dutch Boy®, Krylon®, Minwax®, Thompson's® Water Seal®, Cabot® and many more. With global headquarters in Cleveland, Ohio, Sherwin-Williams® branded products are sold exclusively through a chain of more than 5,000 Company-operated stores and facilities, while the Company's other brands are sold through leading mass merchandisers, home centers, independent paint dealers, hardware stores, automotive retailers, and industrial distributors. The Sherwin-Williams Performance Coatings Group supplies a broad range of highly-engineered solutions for the construction, industrial, packaging and transportation markets in more than 120 countries around the world. Sherwin-Williams shares are traded on the New York Stock Exchange (symbol: SHW). For more information, visit www.sherwin.com.