Slide 1: Q1 2025 Financial Results
Axalta Coating May 7, 2025 Systems Q1 2025 Financial Results Sensitivity: Business Internal 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: First Quarter 2025 Highlights
First Quarter 2025 Highlights Quarterly Business Achievements $270M 21.4% • Net sales flat on constant currency basis $1.26B Adjusted Adjusted Net Sales • Record first quarter Adjusted EBITDA EBITDA EBITDA Margin • Eleven consecutive quarters of growth • +140 bps margin expansion Adjusted Diluted EP
Slide 4: Axalta Outperforms Industry in Q1 Despite Weak Macro
Axalta Outperforms Industry in Q1 Despite Weak Macro (1) Management’s estimates of industry volume changes on a year-over-year basis, utilizing (i) for Refinish, internal body shop data and collision and insurance claims data for North America and Europe from CCC Intelligent Solutions and Solera, (i
Slide 5: Geographic Exposure and Tariff Mitigation
Geographic Exposure and Tariff Mitigation 1 2024 Net Sales by Region Tariff Related Exposure and Expected Financial Impact North ~90% ~10% ~$25M ~$50M America 38% Local for Local Total 2025 Gross Annualized 2 2 Production Buy Impacted Impact Gross Impact Europe 34% Mitigation Actions Asia • Insourci
Slide 6: First Quarter 2025 Consolidated Results
First Quarter 2025 Consolidated Results Financial Results Net Sales Variance ($ in millions, except per share data) Q1 2025 Q1 2024 % Change ($ in millions) (1.5)% 0.6% (2.7)% 1.1% (2.5)% Net Sales 1,262 1,294 (3)% Net Income 99 39 154% Adjusted EBITDA 270 259 4% % Margin 21.4% 20.0% 140 bps Diluted
Slide 7: First Quarter 2025 Performance Coatings Results
First Quarter 2025 Performance Coatings Results Financial Results Net Sales Variance ($ in millions) Q1 2025 Q1 2024 % Change ($ in millions) (2.4)% —% (2.3)% 1.6% (3.1)% Refinish 511 519 (2)% Industrial 311 329 (6)% Net Sales 822 848 (3)% Organic Net Sales Adjusted EBITDA 197 196 1% Refinish: (LSD%
Slide 8: First Quarter 2025 Mobility Coatings Results
First Quarter 2025 Mobility Coatings Results Financial Results Net Sales Variance ($ in millions) Q1 2025 Q1 2024 % Change ($ in millions) 0.3% 1.8% (3.4)% (1.3)% Light Vehicle 340 342 (1)% Commercial Vehicle 100 104 (3)% Net Sales 440 446 (1)% Organic Net Sales Adjusted EBITDA 73 63 15% LV: +LSD% C
Slide 9: Global Macro Expected to Remain Soft
Global Macro Expected to Remain Soft Axalta Execution On Track Refinish Industrial Collision Claims YoY1 US Manufacturing PMI US and Europe (Source: Institute for Supply Management®)2 2024 2025E Outperform industry Cost actions and (MSD) (MSD) through new wins portfolio optimization and growth in dr
Slide 10: 2025 Guidance
2025 Guidance Full Year 2025 Q2 2025 ($ in millions) Prior Revised Net Sales (LSD) $5,350 - $5,400 $5,300 -$5,375 Adjusted EBITDA $280 - $290 $1,150 - $1,175 $1,150 - $1,175 Adjusted Diluted EPS $0.60 - $0.63 $2.50 - $2.60 $2.50 - $2.60 ($ Per Share) Free Cash Flow ~$500 $475 - $500 Note: Axalta doe
Slide 11: Significant Progress Made Toward Achieving A Plan Targets
Significant Progress Made Toward Achieving A Plan Targets • Reduced safety incidents by 50% in Q1 YoY • Cultural transformation progressing well • Reduced OPEX by 4% • Executing supply chain network optimization • Growing from adjacencies in Refinish • Commercializing $70M Mobility business win in B
Slide 12: Appendix
Appendix AXALTA 12
Slide 13: Full Year 2025 Modeling Assumptions
Full Year 2025 Modeling Assumptions Axalta A Plan Strategy • Continued net body shop wins and resilient pricing in Refinish (in millions, except %’s) Projection • LV and CV business wins in Latin America and Asia Pacific • On track to deliver A Plan target of +400 basis points of margin D&A ~$285 in
Slide 14: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation LTM ($ in millions) 3/31/2025 Q1 2025 Q1 2024 FY 2024 Net income $ 451 $ 99 $ 39 $ 391 Interest expense, net 195 44 54 205 Provision for income taxes 115 30 20 105 Depreciation and amortization 282 70 68 280 EBITDA $ 1,043 $ 243 $ 181 $ 981 A Debt extinguishment and re
Slide 15: Adjusted Net Income Reconciliation
Adjusted Net Income Reconciliation (in millions, except per share data) Q1 2025 Q1 2024 Net income $ 99 $ 39 Less: Net income (loss) attributable to noncontrolling interests — (2) Net income attributable to common shareholders $ 99 $ 41 A Debt extinguishment and refinancing-related costs — 3 B Termi
Slide 16: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation ($ in millions) Q1 2025 Q1 2024 Cash provided by operating activities $ 26 $ 34 Purchase of property, plant and equipment (43) (22) Interest proceeds on swaps designated as net investment hedges 3 3 Free cash flow $ (14) $ 15 16
Slide 17: Adjusted EBIT Reconciliation
Adjusted EBIT Reconciliation LTM ($ in millions) 3/31/2025 Q1 2025 Q1 2024 FY 2024 Income from operations $ 761 $ 176 $ 121 $ 706 Other expense, net — 3 8 5 Total $ 761 $ 173 $ 113 $ 701 A Debt extinguishment and refinancing-related costs 2 — 3 5 B Termination benefits and other employee-related cos
Slide 18: Return on Invested Capital
Return on Invested Capital ($ in millions) LTM Q1 2025 2024 Adjusted EBIT 896 883 Tax Rate, As Adjusted (1) 23.4 % 23.5 % NOPAT (2) 686 675 Total debt, opening balance 3,427 3,504 Axalta’s shareholders’ equity, opening balance 1,731 1,727 Less: Cash and Cash Equivalents, opening balance 624 700 Inve
Slide 19: Capitalization Table
Capitalization Table ($ in millions) Interest @ 3/31/2025 Maturity Cash and Cash Equivalents $ 575 Debt: Revolver ($800 million capacity) Variable — 2029 First Lien Term Loan (USD) Variable 1,680 2029 Total Senior Secured Debt $ 1,680 Senior Unsecured Notes (USD) Fixed 497 2027 Senior Unsecured Note
Slide 20: Thank you!
Thank you! Investor Relations Contact Colleen.Lubic@axalta.com Sensitivity: Business Internal 20