#1Axalta Coating Systems 2017 Capital Markets Day Technology Drives Axalta's Performance February 22, 2017 AXALTA#2Legal Notices Forward-Looking Statements This presentation and the oral remarks made in connection herewith may contain "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, including those relating to 2017 financial projections, including execution on our 2017 goals as well as 2017 net sales, net sales excluding FX, Adjusted EBITDA, interest expense, tax rate, as adjusted, free cash flow, capital expenditures, working capital, depreciation and amortization, diluted shares outstanding, cost savings, contributions from acquisitions, and related assumptions. Any forward-looking statements involve risks, uncertainties and assumptions. These statements often include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "target," "project," "forecast," "seek," "will," "may," "should," "could," "would," or similar expressions. These statements are based on certain assumptions that we have made in light of our experience in the industry and our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances as of the date hereof. Although we believe that the assumptions analysis underlying these statements are reasonable as of the date hereof, investors are cautioned not to place undue reliance on these statements. We not ve any obligation to do not intend to update any forward- looking statements included herein, which speak only as of the date hereof. You should understand that these statements are not guarantees of future performance or results. Actual results could differ materially from those described in any forward-looking statements contained herein or the oral remarks made in connection herewith as a result of a variety of factors, including known and unknown risks and uncertainties, many of which are beyond our control including, but not limited to, the risks and uncertainties described in "Non-GAAP Financial Measures," and "Forward-Looking Statements" as well as "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2015 and our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2016, June 30, 2016 and September 30, 2016. Non-GAAP Financial Measures The historical financial information included in this presentation includes financial information that is not presented in accordance with generally accepted accounting principles in the United States ("GAAP"), including net sales excluding FX, EBITDA, Adjusted EBITDA, Free Cash Flow, tax rate, as adjusted, and Net Debt. Management uses these non-GAAP financial measures in the analysis of our financial and operating performance because they assist in the evaluation of underlying trends in our business. Adjusted EBITDA consists of EBITDA adjusted for (i) non-operating income or expense, (ii) the impact of certain non-cash, nonrecurring or other items that are included in net income and EBITDA that we do not consider indicative of our ongoing performance and (iii) certain unusual or nonrecurring items impacting results in a particular period. We believe that making such adjustments provides investors meaningful information to understand our operating results and ability to analyze financial and business trends on a period-to-period basis. Our use of the terms net sales excluding FX, EBITDA, Adjusted EBITDA, Free Cash Flow, tax rate, as adjusted, and Net Debt may differ from that of others in our industry. Net sales excluding FX, EBITDA, Adjusted EBITDA and Free Cash Flow should not be considered as alternatives to net income, operating income or any other performance measures derived in accordance with GAAP as measures of operating performance or operating cash flows or as measures of liquidity. Net sales excluding FX, EBITDA, Adjusted EBITDA, Free Cash Flow, tax rate, as adjusted, and Net Debt have important limitations as analytical tools and should be considered in conjunction with, and not as substitutes for, our results as reported under GAAP. This presentation includes a reconciliation of certain non-GAAP financial measures with the most directly comparable financial measures calculated in accordance with GAAP. Axalta does not provide a reconciliation for non-GAAP estimates for net sales excluding FX, EBITDA, Adjusted EBITDA, Free Cash Flow or tax rate, as adjusted, as-reported on a forward-looking basis because the information necessary to calculate a meaningful or accurate estimation of reconciling items is not available without unreasonable effort. For example, such reconciling items include the impact of foreign currency exchange gains or losses, gains or losses that are unusual or nonrecurring in nature, as well as discrete taxable events. We cannot estimate or project those items and they may have a substantial and unpredictable impact on our US GAAP results. AXALTA Segment Financial Measures The primary measure of segment operating performance is Adjusted EBITDA, which is a key metric that is used by management to evaluate business performance in comparison to budgets, forecasts and prior year financial results, providing a measure that management believes reflects Axalta's core operating performance. As we do not measure segment operating performance based on Net Income, a reconciliation of this non-GAAP financial measure with the most directly comparable financial measure calculated in accordance with GAAP is not available. Defined Terms All capitalized terms contained within this presentation have been previously defined in our filings with the United States Securities and Exchange Commission. AXALTA COATING SYSTEMS 2 PROPRIETARY#3Capital Markets Day Agenda 9:00 AM 9:05 AM 9:40 AM 10:10 AM 10:40 AM 11:00 AM 11:30 AM 12:00 PM 12:30 PM Introduction & Agenda Axalta's Technology Journey: CEO Perspective Technology Drives Axalta's Performance Performance Coatings: Refinish BREAK AXALTA COATING SYSTEMS Performance Coatings: Industrial Coatings Transportation Coatings Segment Q&A Closing Remarks 12:35 PM LUNCH Additional Axalta Attendees: Robert Bryant (EVP, CFO) ▪ Joseph McDougall (SVP, CHRO) ▪ Dan Key (SVP, Operations & Supply Chain) ■ Chris Mecray, VP, Investor Relations. Charlie Shaver, Chairman & CEO Barry Snyder, SVP & CTO Michael Carr, VP, President, North America 3 Michael Cash, SVP, President, Industrial Steven Markevich, EVP, President, Transportation & GC Dr. Robert Roop (VP, Global Refinish Technology) ■ Joanne Hardy (Global Director, Axalta R&D) ▪ Matt Boland (VP, Global Transportation Technology) Charlie Shaver, Chairman & CEO AXALTA PROPRIETARY#4Axalta's Technology Journey: The CEO Perspective Charles W. Shaver Chairman and CEO AXALTA#5Axalta's Global Breadth and Scope 100,000+ Customers AXALTA COATING SYSTEMS 4,000+ Distributors 13,000+ People 130 Countries 50+ Brands North America 35% of Sales Latin America 11% of Sales Data as of FY 2016, all sales data refers to Net Sales; Mexico is included in Latin America $4.1 Billion in Sales EMEA 36% of Sales Durable coatings that protect, enhance productivity and add beauty 5 Asia Pacific 18% of Sales 46 Manufacturing Centers AXALTA 47 Training Centers 4 R&D Centers 30+ Laboratories 150 Years in the Industry PROPRIETARY#6Axalta's Customer Focused Organization SEGMENTS END MARKETS AXALTA STRUCTURE AXALTA COATING SYSTEMS ● ■ ■ I PERFORMANCE COATINGS REFINISH Multi-shop operators Independent body shops Auto dealership groups Regional & local customers Regional Axalta ies Strong local execution I General industrial powders I Electrical insulation systems ■ Architectural & decorative ■ Oil & gas & utility pipelines ■ Valves & rebar ■ Automotive sub-components ■ Metal furniture & playground ■ Agricultural, construction and earth moving equipment (ACE) Coil / extruded metal ● INDUSTRIAL ■ Global and local customers Global Axalta strategy Strong regional execution 6 ■ TRANSPORTATION COATINGS ■ Automotive OEMs Coatings for plastic & composite materials ■ Automotive interiors ● LIGHT VEHICLE ▪ Heavy duty trucks Rail Bus Utility trucks ■ ■ ■ COMMERCIAL VEHICLE ■ Recreational vehicles ■ Construction / mining I Cranes Marine AXALTA Global OEM customers Global Axalta strategies and support teams Regionally specific aspects of customer support PROPRIETARY#7Axalta - A Global Leader In Coatings Refinish $1.7 B (41%) Body Shops AXALTA COATING SYSTEMS Performance Coatings $2.4 Billion, 59% of Sales Industrial $0.7 B (18%) General Industrial, Electrical Insulation, Architectural Adjusted EBITDA ¹,2 - $554 M (23% Margin) 1. Financials for FY 2016, all sales data refers to Net Sales 2. Consolidated Adjusted EBITDA reconciliation can be found in the Appendix 7 Transportation Coatings $1.7 Billion, 41% of Sales Light Vehicle $1.3 B (33%) Light Vehicle / Automotive OEMs CV $0.4 B (8%) AXALTA Truck, Bus, Rail, Off-road OEMs Adjusted EBITDA¹,2 - $353 M (21% Margin) PROPRIETARY#8A Global Leader In Our Markets ■ ■ Performance Coatings: Refinish AXALTA COATING SYSTEMS Other Source: Orr & Boss, Axalta estimates (2016) Peer 3 Axalta Peer 1 Peer 2 #2 in powder coatings globally #2 in energy solutions coatings globally #2 in industrial e-coat globally Performance Coatings: Industrial #1 ■ 8 ■ Transportation Coatings: Light Vehicle Other Peer 3 Peer 2 Peer 1 ~90% of Sales from Markets Where Axalta Has #1 or #2 Global Share Axaltar #2 Transportation Coatings: Commercial Vehicle #1 supplier to North America heavy duty truck market Leading supplier to other offroad vehicle niches AXALTA PROPRIETARY#9Structurally Attractive Global End-Markets Coatings Industry Sales ($ in Billions) Industrial Commercial Vehicle Light Vehicle Refinish Strong Coatings Growth Outlook AXALTA COATING SYSTEMS 24.1 3.3 7.8 6.9 2016E Source: Orr & Boss, Axalta estimates CAGR: 4% 29.7 3.8 8.7 7.7 2020E CAGR 5.3% 3.8% 2.9% 2.7% ■ 9 Diverse Industry Growth Drivers AXALTA Refinish: Car parc, miles driven and collision rates Light Vehicle: Emerging economies and middle classes; ongoing consumer strength in developed markets. Commercial Vehicle: Global consumer markets expanding; infrastructure growth; professionalized logistics management Long Term Alignment With Global Growth Industrial: Global GDP and industrial production; application sophistication with enhanced functionality and durability PROPRIETARY#10Axalta's Foundation: A Product Development Timeline Herberts 1866 AXALTA COATING SYSTEMS SPIES HECKER 1900s Dulux Sand mills revolutionize pigment dispersion STANDOX 1950s New tinting technology 1st Color popularity report Automotive 2015 Color Popularity Report ₂² L, a, b color equations Ay V ww Yala th CORTING SITEUR A Eco-Concept AbciteⓇ Cromax Acquire EFX spectrophotometer DUXONEⓇ AUTOMOTIVE PAINT SYSTEMS 10 2000 Challenger C1230 Acquisitions with 14+ Brands metalak partner in proces DURA COAT PRODUCTS INC -AN AXALTA COATING SYSTEMS COMPANY HIPIC AUTOMOTIVE PAINT AquaEC™ 2013 Vermeera GRUPO DUWEST 1: Elis ELLIS PAINT COMPANY UNITED PAINT NYSE: AXTA CHEM USA SPEC Axalta offers >30 coatings brands for 100,000+ customers in 130 countries Audurra SYROX 2016 nason finishes AXALTA 150 YEARS A AXALTA PROPRIETARY#11Key Achievements in 2016 Stated Objective Grow the Business Extend Core Strengths & Globalize Focus on Operating Improvement Productivity Initiatives Improve Cost Structure Continue High IRR Investments Active M&A Pipeline FCF & Debt Paydown A Priority AXALTA COATING SYSTEMS ■ Net sales growth 4% ex-currency, including acquisitions Outgrew our end-markets Extend our strong global foundation Results Success in refining our operating model Exceeded expectations with $64 million in combined 2016 cost savings Productivity & growth capex remain in high gear - $136 M spend in 2016A Completed 6 bolt-on M&A deals in our core end-markets Leverage ratios lowered to 3.0x (2.5-3.0x goal) ahead of schedule 11 AXALTA PROPRIETARY