Slide 1: Axalta Coating Systems Q2 2026 Financial Results
Axalta Coating July 28, 2026 Systems Q2 2026 Financial Results 1
Slide 2: Legal Notices
Legal Notices Forward-Looking Statements This presentation and the oral remarks made in connection herewith may contain certain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 regarding Axalta and its subsidiaries including, but not limited
Slide 3: Second Quarter Highlights
Second Quarter Highlights Financial Results Quarterly Business Achievements(1) ▪ Net sales +3% with growth in three out of four end markets $1.35B $305M 22.7% ▪ Refinish net sales +6% Net Adjusted Adjusted ▪ Industrial net sales +2% Sales EBITDA EBITDA Margin ▪ Commercial Vehicle net sales +7% Recor
Slide 4: Driving Operational Excellence and Consistent Performance
Driving Operational Excellence and Consistent Performance 2026 Q2 Highlights (1) Resilient Margin and Earnings Performance • Organic net sales growth REFINISH • Net sales growth in three out of four regions with record net sales in Europe +6% Net Sales YoY • More than 1,900 net new body shops YTD; ~
Slide 5: Second Quarter 2026 Consolidated Results
Second Quarter 2026 Consolidated Results Financial Results Net Sales Variance ($ in millions) (0.8)% 0.4% +0.9% +2.6% +3.1% ($ in millions, except per share data) Q2 2026 Q2 2025 Change Net Sales $1,346 $1,305 3% $1,346 $1,305 (1) Net Income $89 $110 (19)% Adjusted EBITDA $305 $292 5% % margin 22.7%
Slide 6: Second Quarter 2026 Performance Coatings Results
Second Quarter 2026 Performance Coatings Results Financial Results Net Sales Variance ($ in millions) ($ in millions) Q2 2026 Q2 2025 % Change (0.4)% +1.5% +1.4% +1.8% +4.3% Refinish $545 $514 6% $872 $836 Industrial $327 $322 2% Net Sales $872 $836 4% Adjusted EBITDA $218 $200 10% % margin 25.1% 23
Slide 7: Second Quarter 2026 Mobility Coatings Results
Second Quarter 2026 Mobility Coatings Results Financial Results Net Sales Variance ($ in millions) ($ in millions) Q2 2026 Q2 2025 % Change (1.6)% (1.5)% +4.1% +1.0% Light Vehicle $360 $362 (1)% $469 $474 Commercial Vehicle $114 $107 7% Net Sales $474 $469 1% Adjusted EBITDA $87 $92 (6)% I I I I I %
Slide 8: Balance Sheet Highlights
Balance Sheet Highlights 2026 First Half Highlights (1) Total Net Leverage Ratio Cash from Operations First Half ($ in millions) +49% 220 ▪ Gross debt reduction of $135M 2.6x 168 2.5x ▪ Reduced interest expense by 16% 148 2.2x ▪ Improved cash flow from operating activities by $52M ▪ Invested $98M in
Slide 9: Q3 and FY 2026 Guidance
Q3 and FY 2026 Guidance Net Sales Adjusted EBITDA (change YoY) (in millions) Q3 2026 FY 2026 Q3 2026 FY 2026 LSD% LSD% $295 - $305 $1,140 - $1,170 Adjusted Diluted EPS Free Cash Flow ($ per share) (in millions) Q3 2026 FY 2026 FY 2026 ~$0.70 $2.55 - $2.70 >$500 LSD = low-single digit Axalta does not
Slide 10: Axalta + AkzoNobel: Timeline and Milestones
Axalta + AkzoNobel: Timeline and Milestones ✓ ✓ SHAREHOLDER VOTES MERGER F-4 EFFECTIVE / REGULATORY ANNOUNCED PROXY FILED August 5, 2026 CLEARANCE ESTIMATED November 18, 2025 June 24, 2026 Axalta SGM • AkzoNobel EGM (ongoing) COMPLETION: Late 2026 – Early 2027 Contingent upon regulatory approvals PO
Slide 11: Appendix
Appendix 11
Slide 12: Solicitation Notices
Solicitation Notices General Restrictions This communication is not for release, publication, or distribution, in whole or in part, in or into, directly or indirectly, any jurisdiction in which such release, publication, or distribution would be unlawful. This communication is not a prospectus and t
Slide 13: Full Year Modeling Assumptions
Full Year Modeling Assumptions Axalta does not provide a reconciliation for non-GAAP estimates for tax rate, as adjusted, on a forward-looking basis because the information necessary to calculate a meaningful or accurate estimation of reconciling items is not available without unreasonable effort. S
Slide 14: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation LTM ($ in millions) 6/30/2026 Q2 2026 Q1 2026 Q2 2025 Q1 2025 FY 2025 Net income $ 350 $ 89 $ 91 $ 110 $ 99 $ 379 Interest expense, net 162 37 38 45 44 176 Provision for income taxes 163 45 14 33 30 167 Depreciation and amortization 303 76 76 74 70 295 EBITDA $ 978 $ 2
Slide 15: Adjusted Net Income Reconciliation
Adjusted Net Income Reconciliation (in millions, except per share data) Q2 2026 Q2 2025 Q2 2024 Net income $ 89 $ 110 $ 113 Less: Net income attributable to noncontrolling interests — 1 1 Net income attributable to common shareholders $ 89 $ 109 $ 112 A Termination benefits and other employee-relate
Slide 16: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation ($ in millions) Q2 2026 Q1 2026 YTD 2026 Q2 2025 Q1 2025 YTD 2025 Cash provided by operating activities $ 152 $ 68 $ 220 $ 142 $ 26 $ 168 Purchase of property, plant and equipment (48) (50) (98) (45) (43) (88) Interest proceeds on swaps designated as net investment hedg
Slide 17: Adjusted EBIT Reconciliation
Adjusted EBIT Reconciliation LTM ($ in millions) 6/30/2026 Q2 2026 Q1 2026 Q2 2025 Q1 2025 FY 2025 Income from operations $ 679 $ 167 $ 146 $ 193 $ 176 $ 735 Other expense, net 4 (4) 3 5 3 13 Total $ 675 $ 171 $ 143 $ 188 $ 173 $ 722 A Termination benefits and other employee-related costs 9 2 4 9 11
Slide 18: Return on Invested Capital
Return on Invested Capital ($ in millions) LTM 6/30/2026 2025 LTM 6/30/2025 Adjusted EBIT $ 875 $ 882 $ 894 Tax Rate, As Adjusted (1) 23.5 % 23.4 % 23.2 % NOPAT (2) $ 669 $ 676 $ 687 Total debt, opening balance $ 3,415 $ 3,421 $ 3,608 Axalta’s shareholders’ equity, opening balance 2,265 1,912 1,773
Slide 19: Capitalization Table
Capitalization Table ($ in millions) Interest @ 6/30/2026 Maturity Cash and Cash Equivalents $ 633 Debt: Revolver ($800 million capacity) Variable — 2029 First Lien Term Loan (USD) Variable 1,330 2029 Total Senior Secured Debt $ 1,330 Senior Unsecured Notes (USD) Fixed 499 2027 Senior Unsecured Note
Slide 20: Thank you!
Thank you! Investor Relations Contact Colleen.Lubic@axalta.com 20