Axalta and Nippon Paint End Acquisition Discussions

November 30, 2017

PHILADELPHIA–(BUSINESS WIRE)–Axalta Coating Systems (NYSE: AXTA), a leading global coatings company,
today confirmed that its previously announced discussions regarding it
being acquired by Nippon Paint have ended. Nippon Paint informed Axalta
that its Board of Directors was unwilling to meet our expectations
regarding the value of the company and assume the financial leverage
necessary for a deal of this size.

“Axalta is a premier company in the coatings industry and has recently
been sought after by two global competitors,” said Charles W. Shaver,
Axalta’s Chairman and Chief Executive Officer. “While neither deal came
to fruition, the keen interest by these companies underscores Axalta’s
global leadership position. Our current and future operational plans
have not wavered during these discussions. We are well positioned to
continue as a standalone growth company and will remain disciplined in
generating superior long-term value for our shareholders.”

“I would like to thank our customers, investors, suppliers, and
employees for their patience and support as we have considered these
strategic options. We look forward to continuing the performance you
have come to expect of our company,” concluded Mr. Shaver.

About Axalta Coating Systems

Axalta is a leading global company focused solely on coatings and
providing customers with innovative, colorful, beautiful and sustainable
solutions. From light OEM vehicles, commercial vehicles and refinish
applications to electric motors, buildings and pipelines, our coatings
are designed to prevent corrosion, increase productivity and enable the
materials we coat to last longer. With more than 150 years of experience
in the coatings industry, the approximately 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 axalta.com
and follow us @Axalta on Twitter
and on LinkedIn.

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
operational plans, position to continue as a standalone growth company
and long-term value creation. 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 involve risks and uncertainties,
including, but not limited to, economic, competitive, governmental and
technological factors outside of Axalta’s control that may cause its
business, industry, strategy, financing activities or actual results to
differ materially. More information on potential factors that could
affect Axalta's financial results is available in the "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and Results
of Operations" section within Axalta's most recent annual report on Form
10-K, and in other documents that we have filed with, or furnished to,
the U.S. Securities and Exchange Commission. 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.