#1A AXALTAⓇ® Exhibit 99.2 Q4 & FY 2018 Financial Results January 30, 2019 AXALTA COATING SYSTEMS#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 our 2019 financial projections, which include net sales, net sales excluding FX, Adjusted EBIT, depreciation and amortization, Adjusted EBITDA, interest expense, tax rate, as adjusted, Diluted adjusted EPS, free cash flow, capital expenditures, diluted shares outstanding, contributions from acquisitions, FX impacts, 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 and analysis underlying these statements are reasonable as of the date hereof, investors are cautioned not to place undue reliance on these statements. We do not have any obligation to and 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, 2017 and our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2018, June 30, 2018, and September 30, 2018. Non-GAAP Financial Measures A AXALTAⓇ 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, Adjusted Net Income, Diluted adjusted EPS, EBITDA, Adjusted EBITDA, EBIT, Adjusted EBIT, 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, Adjusted EBIT and Diluted adjusted EPS consist of EBITDA, EBIT and Diluted EPS, respectively, adjusted for (i) certain non-cash items included within net income, (ii) certain items Axalta does not believe are indicative of ongoing operating performance or (iii) certain nonrecurring, unusual or infrequent items that have not occurred within the last two years or we believe are not reasonably likely to recur within the next two years. 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. Adjusted net income shows the adjusted value of net income attributable to controlling interests after removing the items that are determined by management to be items that we do not consider indicative of our ongoing operating performance unusual or nonrecurring in nature. Our use of the terms net sales excluding FX, Adjusted Net Income, Diluted adjusted EPS, EBITDA, Adjusted EBITDA, EBIT, Adjusted EBIT, Free Cash Flow, tax rate, as adjusted, and Net Debt may differ from that of others in our industry. Net sales excluding FX, Adjusted Net Income, Diluted adjusted EPS, EBITDA, Adjusted EBITDA, EBIT, Adjusted EBIT and Free Cash Flow should not be considered as alternatives to net sales, 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, Adjusted Net Income, Diluted adjusted EPS, EBITDA, Adjusted EBITDA, EBIT, Adjusted EBIT, 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, Diluted adjusted EPS, Adjusted EBITDA, Adjusted EBIT, Free Cash Flow or tax rate, as adjusted, 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 GAAP results. Constant Currency Constant currency or ex-FX percentages are calculated by excluding the change in average exchange rates between the current and comparable period by currency denomination exposure of the comparable period amount. Segment Financial Measures Our primary measure of segment operating performance, as determined in accordance with GAAP, 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. A reconciliation of this non-GAAP financial measure with the most directly comparable financial measure calculated in accordance with GAAP is not required. Defined Terms All capitalized terms contained within this presentation have been previously defined in our filings with the United States Securities and Exchange Commission. Rounding Due to rounding the tables presented may not foot. PROPRIETARY 2 AXALTA COATING SYSTEMS#3Q4 & Full Year 2018 Highlights ■ Q4 2018 financial results Net sales of $1,158 million down 0.6% YoY; growth of 2.7% ex-FX driven by price and mix improvement ■ ■ ■ ■ FY 2018 financial results Net sales of $4,670 million up 7.3% YoY; 6.7% ex-FX impact, driven by acquisition contribution and price and mix benefits ■ ■ Net income (attributable to Axalta) of $75 million vs. a loss of $62 million in Q4 2017; Adjusted net income of $80 million vs. $90 million in Q4 2017 Adjusted EBITDA of $235 million, a 4.3% decline vs. $245 million in Q4 2017 Net income (attributable to Axalta) of $207 million vs. $37 million in 2017; Adjusted net income of $310 million vs. $294 million in 2017 A AXALTAⓇ Increase due to the absence of restructuring charges, Venezuela deconsolidation and US tax reform impacts in the prior year Adjusted EBITDA of $937 million, 5.9% growth vs. $885 million in 2017 PROPRIETARY I ■ Adjusted EBITDA near the low end of original range provided in February 2018, including incremental FX headwinds and higher inflation than planned 3 AXALTA COATING SYSTEMS#4Q4 & Full Year 2018 Highlights (cont'd) ■ ■ Quarterly end-market observations Refinish: Strong price-mix outcome Industrial: Ongoing organic growth, strong price-mix Light Vehicle: Growth in North America; price-mix turned positive; pressure from slowing economy in China and Europe evident Commercial Vehicle: Strong Americas truck; lower demand in EMEA and Asia Pacific ■ ■ ■ ■ Balance Sheet & cash flows Operating cash flow of $496 million in 2018 versus $540 million in 2017 Free cash flow of $362 million in 2018 versus $415 million in 2017 ■ ■ ■ ■ Capital deployment $254 million worth of share repurchases in 2018 (average price of $27.95); $106 million repurchased in Q4 $110 million used for M&A in 2018 ■ ■ Net leverage ratio down to 3.4x in Q4 2018 from 3.5x in Q3 2018 Monetized existing cross-currency swap; executed new cross-currency swap at favorable pricing on $475 million of principal A AXALTAⓇ PROPRIETARY 4 AXALTA COATING SYSTEMS#5Q4 Consolidated Results ($ in million) Performance Transportation Net Sales Net Income (loss) $1,165 Financial Performance (1) PROPRIETARY 2018 (2.1)% 758 401 1,158 75 Q4 4.4% Q4 2017 Volume Price 2017 (62) Adjusted EBITDA 235 245 (1) Represents Net Income (loss) attributable to controlling interests 732 433 1,165 Net Sales Variance (3.3)% FX % Change Incl. FX 3.4 % (7.4)% (0.6)% (4.3)% 0.4% Excl. FX 6.4 % (3.7)% 2.7% (0.6)% $1,158 Acq. Q4 2018 5 Commentary Low single-digit ex-FX net sales growth driven by solid price-mix gains Continued price momentum in Refinish and Industrial; Light Vehicle pricing beginning to see early evidence of improvement with more expected in 2019 ■ ■ A AXALTAⓇ ■ Modest benefits from acquisitions Volume declines in Transportation and Refinish offset partly by ongoing Industrial growth Unfavorable currency impact driven by Euro and emerging markets currencies AXALTA COATING SYSTEMS#6Q4 Performance Coatings Results ($ in million) Refinish Industrial Net Sales Adjusted EBITDA % margin $732 Financial Performance PROPRIETARY (0.7)% 2018 454 304 758 172 22.7% Q4 6.5% Q4 2017 Volume Price 2017 440 292 732 165 Net Sales Variance 22.6% (3.0)% % Change Incl. FX 3.1% 3.9% 3.4% 4.1% 0.6% Excl. FX 6.3% 6.6% 3.4% 6.4% ■ $758 FX Acq. Q4 2018 CO 6 Commentary Net sales growth ex-FX driven by strong price-mix improvement I I ■ A AXALTAⓇ ■ Continued price contribution across both end-markets and benefiting all regions Modest benefit from recent Refinish acquisitions Refinish volume slightly down, partially offset by growth in Industrial in nearly all markets Currency headwind driven by Euro and multiple emerging markets currencies Adjusted EBITDA margin up modestly Margin improvement driven by positive price and mix benefits offsetting input cost inflation AXALTA COATING SYSTEMS#7Q4 Transportation Coatings Results ($ in million) Light Vehicle Commercial Vehicle Net Sales Adjusted EBITDA % margin $433 Financial Performance PROPRIETARY (4.5)% 2018 312 89 401 63 15.7% Q4 0.8% Q4 2017 Volume Price 2017 339 94 433 80 Net Sales Variance 18.5% (3.7)% FX % Change Incl. FX (7.9)% (5.5)% (7.4)% (21.6)% 0.0% Excl. FX (3.9)% (3.3)% (3.7)% (7.4)% $401 Acq. Q4 2018 7 Commentary Net sales down moderately ex-FX with volume declines offsetting average price and mix benefits ■ ■ A AXALTAⓇ ■ Volume declines outside of North America in Light Vehicle; strong growth in North America in Commercial Vehicle Currency headwind across all regions driven by Euro and emerging markets currencies Beginning to see the benefit of pricing actions Lower Adjusted EBITDA margin Margin impact primarily from cost inflation and lower volumes; cost recapture efforts beginning to favorably offset AXALTA COATING SYSTEMS#8FY Consolidated Results ($ in million) Performance Transportation Net Sales Net Income 3,026 1,644 4,670 207 Adjusted EBITDA 937 885 (1) Represents Net Income attributable to controlling interests $4,353 (1) PROPRIETARY Financial Performance 0.6% 2018 FY 2.6% 2017 Volume Price 2017 Net Sales Variance 2,675 1,678 4,353 37 0.6% % Change Incl. FX 13.1 % (2.0)% 7.3 % 5.9 % 3.5% FX Acq. Excl. FX 12.0% (1.9)% 6.7 % 7.3% $4,670 2018 8 Commentary Solid net sales growth including acquisition contribution, favorable price- mix, and modest volume growth ■ ■ I A AXALTAⓇ ■ Strong net sales growth including acquisitions in Industrial completed in 2017 Pricing driven by Performance to largely offset inflation, lowered by on-going price- cost gap in Transportation Volume growth led by Performance; notable growth across the Industrial end-market Currency tailwind driven by strong Euro and RMB in 1H 2018; global FX headwinds returned in 2H AXALTA COATING SYSTEMS#9Debt and Liquidity Summary ($ in millions) Cash and Cash Equivalents Debt: Revolver ($400 million capacity) First Lien Term Loan (USD) Total Senior Secured Debt Senior Unsecured Notes (USD) Senior Unsecured Notes (EUR)(1) Senior Unsecured Notes (EUR) (¹) Capital Leases Other Borrowings Total Debt Total Net Debt Capitalization (2) Full Year Adjusted EBITDA (3) PROPRIETARY Interest @ 12/31/2018 Maturity $ Variable Variable Fixed Fixed Fixed Total Net Leverage (1) Assumes exchange rate of $1.138 USD/Euro (2) Total Net Debt = Total Debt minus Cash and Cash Equivalents (3) Total Net Leverage = Total Net Debt / Full Year Adjusted EBITDA 694 2,386 2,386 491 378 507 58 45 3,864 3,170 937 3.4 x 2021 2024 2024 2024 2025 9 ■ 1 ■ Net leverage slightly lower vs. Q3 2018 due to: ■ ■ ■ Completed recouponing of hedge transaction in Q4 ■ Comments ■ A AXALTA ■ Higher Cash Position Modestly lower Euro Partially offset by lower LTM Adjusted EBITDA Realized $23 million in proceeds from our swap position monetization Long term debt interest rates are 72% effectively fixed Reduced our effective fixed rate from -1.95% to 1.44% on $475 million of principal of term loan $850 million of term loan debt protected from rising interest rates with 3 month USD LIBOR capped at 1.5% $475 million of term loan debt is swapped to Euro/Fixed rate of ~1.44% AXALTA COATING SYSTEMS