Axalta and AkzoNobel End Merger of Equals Discussions

PHILADELPHIA–(BUSINESS WIRE)–Axalta Coating Systems (NYSE: AXTA), a leading global coatings company,
today confirmed that its previously announced talks with AkzoNobel have
ended regarding a potential merger of equals transaction between Axalta
and Akzo’s Paints and Coatings business, as the companies were unable to
reach mutually agreeable terms. Axalta continues to pursue other
value-creating alternatives.

“After pursuing a potential combination of Axalta and Akzo, we concluded
we could not negotiate a transaction on terms that meet our criteria,”
said Charles W. Shaver, Axalta’s Chairman and Chief Executive Officer.
“Any transaction we ultimately agree to needs to generate superior
long-term value for Axalta shareholders as compared to the continued
execution of our strategic plan.”

About Axalta

Axalta is a global leader in the coatings industry, providing customers
with innovative, colorful, beautiful and sustainable coatings solutions.
From light vehicles, commercial vehicles and refinish applications to
electric motors, building facades and other industrial applications, our
coatings are designed to prevent corrosion, increase productivity and
enhance durability. With more than 150 years of experience in the
coatings industry, the 13,300 people of Axalta continue to find ways to
serve our more than 100,000 customers in 130 countries better every day
with the finest coatings, application systems and technology. For more
information, visit axaltacoatingsystems.com
and follow us @Axalta on Twitter.

Cautionary Statement Concerning Forward-Looking Statements

This release may contain certain forward-looking statements regarding
Axalta and its subsidiaries including those relating to Axalta’s pursuit
of value-creating alternatives, including the potential for a
transaction. Forward-looking statements are based on management’s
expectations as well as estimates and assumptions prepared by management
that, although they believe to be reasonable, are inherently uncertain.
These statements may involve risks and uncertainties, including, but not
limited to, the availability of any future value-creating transaction or
alternatives. Axalta undertakes no obligation to update or revise any of
the forward-looking statements contained herein, whether as a result of
new information, future events or otherwise.

Contacts

Axalta Coating Systems
Investors:
Christopher Mecray,
+1-215-255-7970
Christopher.Mecray@axaltacs.com
or
Media:
Robert
Ferris, +1-215-255-7981
Rob.Ferris@axaltacs.com