Axalta Coating Systems Ltd. · NYSE:AXTA
Axalta Coating Systems — Merger or Acquisition (May 2026)
18 slides from Axalta Coating Systems's merger presentation, May 15, 2026
Slide 1: Stakeholder Engagement Document for Remuneration
May 2026 Stakeholder Engagement Document for Remuneration STRICTLY CONFIDENTIAL This content only constitutes the key highlights of the contemplated remuneration policy for the NewCo Board and does not purport to be the full remuneration policy document itself.
Slide 2: Remuneration Policy NewCo 2027
2 Remuneration Policy “ NewCo ” 2027 A Peer Group Composition Executive Director Compensation Context NewCo’s remuneration policy Non - Executive Director Compensation
Slide 3: Context
3 Context A unique transatlantic merger of equals requiring a tailored remuneration framework balancing European governance standards and US market expectations
Slide 4: Building a future leader in coatings
4 Building a future leader in coatings A unique transatlantic merger of equals requiring a tailored remuneration framework • All - stock merger of equals: requires upfront alignment of leadership, governance, Board composition, and remuneration for a group of Board Members coming from different remu
Slide 5: NewCo Board composition
5 G r e g o i r e P o u x - G u i ll a u me C E O a n d C h a ir B en N o t e b oom C h a ir E s t e r Ba i g et I n d e p en d en t D i r e c t or H a n s v a n B y l en I n d e p en d en t D i r e c t or J a s k a d e Ba kk er In d e p e n d e n t D i r e c t or W o u t e r K o lk In d e p e n d e
Slide 6: Simplified Governance Structure with Significant Cost Synergies
6 Simplified Governance Structure with Significant Cost Synergies Unified framework supports continuity, integration and meaningful governance efficiencies NewCo* €10,965,000 €14,378,315 CEO €3,381,000 €5,987,018 CFO €2,585,000 €3,009,249 Non - Executive Directors (total) €16,931,000 €23,374,582 • N
Slide 7: Peer Group Composition
7 Peer Group Composition Constructed to reflect NewCo’s competitive landscape, transatlantic profile and scale as a future global leader in coatings
Slide 8: Sector Relevant Global Peer Group
8 Sector Relevant Global Peer Group (incl. market cap) Peer group at median of market cap reflecting size, sector and geographical balance US CHEMICALS US SPECIALTY CHEMICALS COMPETITORS Paints & Coatings Sherwin - Williams €71.0bn PPG Industries €19.4bn RPM International €11.9bn EUROPEAN CHEMICALS
Slide 9: Peer group data: headcount, revenue, market cap
9 Head - count Revenue (EURm) Market Cap (EURm) Country of Incorporation Country of Listing Company 64,249 20,892 70,992 United States United States The Sherwin - Williams Company 109,717 65,260 38,731 Germany Germany BASF SE 17,580 7,976 32,950 Switzerland Switzerland Givaudan SA* 24,000 11,452 19,
Slide 10: Balanced Executive Leadership Structure for NewCo
10 Balanced Executive Leadership Structure for NewCo CEO and CFO from both legacy organizations supported by a harmonized compensation framework CEO Greg Poux - Guillaume Current CEO and Chairman of the Board of Management of AkzoNobel CFO Carl D. Anderson II Current CFO of Axalta
Slide 11: Base compensation
11 Base compensation CEO base salary maintained, CFO positioned at peer group median NewCo * Median No Change €1,290,000 €1,241,000 €1,014,600 €1,290,000 Chief Executive Officer At median €735,000 €733,000 €655,930 € 830,000 Chief Financial Officer • No change for CEO in base pay compensation • Medi
Slide 12: Variable pay
12 Variable pay Simplified structure with share matching integrated into STI and LTI at or below median positioning NewCo (at target) Median Premium to Median 150% 140% 130% 125%* Chief Executive Officer At median 100% 100% 90% 100%* Chief Financial Officer NewCo (at target) Median Below median 600%
Slide 13: Short-term Incentive metrics
13 Short - term Incentive metrics Focus on synergy realization first, with organic growth as a longer - term objective NewCo 80% financial metrics 20% non - financial metrics 100% financial + discretionary multiplier 70% financial / 30% non - financial Structure Adjusted EBITDA Free Cash Flow Synerg
Slide 14: Long-term Incentive metrics
14 Long - term Incentive metrics Predefined and limited set of performance indicators NewCo PSU (70%) + RSU (30%) RSU (40%) + PSU (60%) PSU (100%) Structure TSR Adjusted EPS/ROI/ ESG Relative TSR (50%) Adjusted EPS (50%) Adj.EBITDA (40%) ROI (40%) ESG (20%) Financial, Operational & ESG metrics (PSU)
Slide 15: Executive Directors – Severance
15 Executive Directors – Severance Aligned with peer group median NewCo CFO NewCo CEO Median 1x base salary (incl. bonus) 2x base salary (incl. bonus) 1 – 2x base salary 2x base salary (incl. bonus at greater of 2x target or 2x the average 2 - year bonus) 1x base salary (Dutch governance standard) +
Slide 16: Chair and Vice Chair of the Board
16 Chair of the Board Vice Chair of the Board Rakesh Sachdev Current Board Chair of Axalta Ben Noteboom Current Chairman of the Supervisory Board of AkzoNobel Non - Executive Director Compensation Chair and Vice Chair appointments reflecting balanced legacy representation 3 Current Axalta Board Memb
Slide 17: Non-Executive Directors Remuneration Framework
17 Non - Executive Directors Remuneration Framework Median - oriented framework with strong shareholder alignment NewCo Median €500,000 * €538,000 €356,000 €184,000 Chairman of the Board €300,000 --- --- €127,000 Vice Chairman €255,000 €253,000 € 244,750 € 105,000 Board Member * All - in fee ▪ Board
Slide 18: Investor Contacts
STRICTLY PRIVATE AND CONFIDENTIAL AkzoNobel Investor Contact Jan Willem Enhus JanWillem.Enhus@AkzoNobel.com Axalta Investor Contact Colleen Lubic Colleen.Lubic@Axalta.com General restrictions This communication is not for release, publication, or distribution, in whole or in part, in or into, direct
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