Slide 1: Axalta Coating Systems Q2 2025 Financial Results
Axalta Coating July 30, 2025 Systems Q2 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: Second Quarter 2025 Highlights
Second Quarter 2025 Highlights Quarterly Business Achievements $292M 22.4% • Record quarter for Adjusted EBITDA $1.3B • Twelve consecutive quarters of growth YoY Adjusted Adjusted Net Sales • +90 bps margin expansion YoY EBITDA EBITDA Margin • Adjusted EBITDA margins at or above A Plan targets for f
Slide 4: U.S. Collision Repair Industry Stabilizing
U.S. Collision Repair Industry Stabilizing Cost pressure on consumers has A Plan initiatives designed to However, consumer inflation resulted in fewer cars being strengthen and diversify Refinish pressure is easing repaired business U.S. Vehicle Accidents YoY(1) Total Repair Costs Stabilizing YoY(2)
Slide 5: 2026 A Plan Execution
2026 A Plan Execution Second Quarter Highlights • Reduced safety incidents by 55% in Q2 YoY • Reduced OPEX by 6% • Closed 3 manufacturing sites since Dec ‘24 • Variable costs reduced by 2% • +90 bps in Adjusted EBITDA margin YoY • ~1,600 net new body shops 2025 YTD • Strong Adjusted EBITDA margin gr
Slide 6: Second Quarter 2025 Consolidated Results
Second Quarter 2025 Consolidated Results Financial Results Net Sales Variance ($ in millions, except per share data) Q2 2025 Q2 2024 % Change ($ in millions) (5.6)% 0.2% 1.0% 1.0% (3.4)% Net Sales $1,305 $1,351 (3)% $1,351 $1,305 Net Income $110 $113 (3)% Adjusted EBITDA $292 $291 —% % Margin 22.4%
Slide 7: Second Quarter 2025 Performance Coatings Results
Second Quarter 2025 Performance Coatings Results Financial Results Net Sales Variance ($ in millions) Q2 2025 Q2 2024 % Change ($ in millions) (7.2)% (2.0)% 1.9% 1.6% (5.7)% Refinish $514 $546 (6)% Industrial $322 $341 (6)% $887 $836 Net Sales $836 $887 (6)% Organic Net Sales Adjusted EBITDA $200 $2
Slide 8: Second Quarter 2025 Mobility Coatings Results
Second Quarter 2025 Mobility Coatings Results Financial Results Net Sales Variance ($ in millions) Q2 2025 Q2 2024 % Change ($ in millions) (2.5)% 4.2% (0.7)% 1.0% Light Vehicle $362 $354 2% $464 $469 Commercial Vehicle $107 $110 (4)% Net Sales $469 $464 1% Organic Net Sales Adjusted EBITDA $92 $68
Slide 9: Capital Allocation
Capital Allocation Q2 Highlights Total Net Leverage Ratio Capital Allocation Leverage ratio consistent with A Plan 6% target range • Reduced interest expense 10% YoY $169M • $65M in share repurchases 2.5x 38% 2.0x – 2.5x YTD Cash 52% Deployed • Operating cash flow of $142M • ROIC of 14.3% LTM June 2
Slide 10: 2025 Guidance
2025 Guidance Full Year 2025 Q3 2025 ($ in millions), except per share amounts Prior Current Outlook Net Sales (LSD)% $5,300 - $5,375 $5,200 -$5,275 Adjusted EBITDA $290 - $300 $1,150 - $1,175 $1,140 - $1,165 Adjusted Diluted EPS $0.63 - $0.67 $2.50 - $2.60 $2.45 - $2.55 Free Cash Flow $475 - $500 $
Slide 11: Building the Future
Building the Future Light Vehicle / Commercial Vehicle Refinish Industrial Growing through Innovative Solutions Expanding into New Channels Well-positioned for Industrial Growth Axalta Nimbus and Axalta Irus technologies Margins expected to reach record highs Waterborne basecoat expanding color expe
Slide 12: Appendix
Appendix 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 Depreciation
Slide 14: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation LTM ($ in millions) 6/30/2025 Q2 2025 Q1 2025 Q2 2024 Q1 2024 FY 2024 Net income $ 448 $ 110 $ 99 $ 113 $ 39 $ 391 Interest expense, net 190 45 44 50 54 205 Provision for income taxes 105 33 30 43 20 105 Depreciation and amortization 288 74 70 68 68 280 EBITDA $ 1,031
Slide 15: Adjusted Net Income Reconciliation
Adjusted Net Income Reconciliation (in millions, except per share data) Q2 2025 Q2 2024 Net income $ 110 $ 113 Less: Net income attributable to noncontrolling interests 1 1 Net income attributable to common shareholders $ 109 $ 112 A Debt extinguishment and refinancing-related costs — — B Terminatio
Slide 16: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation ($ in millions) Q2 2025 Q1 2025 YTD 2025 Q2 2024 Q1 2024 YTD 2024 Cash provided by operating activities $ 142 $ 26 $ 168 $ 114 $ 34 $ 148 Purchase of property, plant and equipment (45) (43) (88) (23) (22) (45) Interest proceeds on swaps designated as net investment hedg
Slide 17: Adjusted EBIT Reconciliation
Adjusted EBIT Reconciliation LTM ($ in millions) 6/30/2025 Q2 2025 Q1 2025 Q2 2024 Q1 2024 FY 2024 Income from operations $ 749 $ 193 $ 176 $ 205 $ 121 $ 706 Other expense (income), net 6 5 3 (1) 8 5 Total $ 743 $ 188 $ 173 $ 206 $ 113 $ 701 A Debt extinguishment and refinancing-related costs 2 — —
Slide 18: Return on Invested Capital
Return on Invested Capital ($ in millions) LTM Q2 2025 2024 LTM Q2 2024 Adjusted EBIT 894 883 818 Tax Rate, As Adjusted (1) 23.2 % 23.5 % 24.9 % NOPAT (2) 687 675 614 Total debt, opening balance 3,608 3,504 3,568 Axalta’s shareholders’ equity, opening balance 1,773 1,727 1,644 Less: Cash and Cash Eq
Slide 19: Capitalization Table
Capitalization Table ($ in millions) Interest @ 6/30/2025 Maturity Cash and Cash Equivalents $ 625 Debt: Revolver ($800 million capacity) Variable — 2029 First Lien Term Loan (USD) Variable 1,676 2029 Total Senior Secured Debt $ 1,676 Senior Unsecured Notes (USD) Fixed 498 2027 Senior Unsecured Note
Slide 20: Thank you!
Thank you! Investor Relations Contact Colleen.Lubic@axalta.com Sensitivity: Business Internal 20