Axalta Confirms Discussions with AkzoNobel Regarding Potential Merger of Equals Transaction

PHILADELPHIA–(BUSINESS WIRE)–Axalta Coating Systems (NYSE: AXTA) (“Axalta”), a leading global
coatings company, today issued the following statement:

“Axalta today confirmed that it is engaged in discussions with AkzoNobel
regarding a potential merger of equals transaction between Axalta and
Akzo’s Paints & Coatings business. Axalta will pursue such a transaction
only if its Board of Directors determines that it is in the best
interest of Axalta to do so. There can be no assurances that a
definitive agreement between the parties will be reached or on what
terms.”

About Axalta Coating Systems
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 the potential
merger transaction between Axalta and Akzo Nobel. 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 parties’ ability
to reach a definitive agreement or the terms thereof. 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
[email protected]
or
Media
Robert
Ferris, +1-215-255-7981
[email protected]