#1A AXALTA Q4 & FY 2021 Financial Results January 31, 2022 GRE WA AD#2Legal Notices Forward-Looking Statements This presentation and the oral remarks made in connection herewith may contain certain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995 regarding Axalta and its subsidiaries including our outlook and/or guidance, which includes net sales growth, currency effects, acquisition or divestment impacts, Adjusted EBIT, Adjusted diluted EPS, interest expense, income tax rate, as adjusted, free cash flow, capital expenditures, depreciation and amortization, diluted shares outstanding and various assumptions noted in the presentation, the effects of COVID-19 on Axalta's business and financial results, our and our customers' supply chain constraints and our ability to offset the impacts of such constraints, the timing or amount of any future share repurchases, contributions from our prior acquisitions and our ability to make future acquisitions. Axalta has identified some of these forward-looking statements with words "believes," "expects," "assumes," "estimation," "likely," "outlook," "forecasts," "may," "will," "should," "plans," "planned," "guidance," "to be," "call for," "goal," "could," "anticipated," "assumptions," "looking ahead," "we look," "view," "assessment," and "we see" and the negative of these words or other comparable or similar terminology. All of these 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, including the effects of COVID-19, that may cause its business, industry, strategy, financing activities or actual results to differ materially. The impact and duration of COVID-19 on our business and operations is uncertain. Factors that will influence the impact on our business and operations include the duration and extent of COVID-19, the extent of imposed or recommended containment and mitigation measures, and the general economic consequences of COVID-19. More information on potential factors that could affect Axalta's financial results is available in "Forward-Looking Statements," "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" 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, including our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2021, June 30, 2021 and September 30, 2021. 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. 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 constant currency net sales growth, income tax rate, as adjusted, EBIT, Adjusted EBIT, EBITDA, Adjusted EBITDA, Adjusted diluted EPS, free cash flow, net debt, Adjusted net income, Adjusted EBITDA to interest expense coverage ratio, Adjusted EBIT margin and net leverage. 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 Adjusted diluted 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 (loss) 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 or unusual or nonrecurring in nature. Our use of the terms constant currency net sales growth, income tax rate, as adjusted, EBIT, Adjusted EBIT, EBITDA, Adjusted EBITDA, Adjusted diluted EPS, free cash flow, net debt, Adjusted net income, Adjusted EBITDA to interest expense coverage ratio, Adjusted EBIT margin and net leverage may differ from that of others in our industry. Constant currency net sales growth, income tax rate, as adjusted, EBIT, Adjusted EBIT, EBITDA, Adjusted EBITDA, Adjusted diluted EPS, free cash flow, net debt, Adjusted net income, Adjusted EBITDA to interest expense coverage ratio, Adjusted EBIT margin and net leverage should not be considered as alternatives to net sales, net income, income before operations or any other performance measures derived in accordance with GAAP as measures of operating performance or operating cash flows or as measures of liquidity. Constant currency net sales growth, income tax rate, as adjusted, EBIT, Adjusted EBIT, EBITDA, Adjusted EBITDA, Adjusted diluted EPS, free cash flow, net debt, Adjusted net income, Adjusted EBITDA to interest expense coverage ratio, Adjusted EBIT margin and net leverage 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 constant currency net sales growth, Adjusted EBIT, Adjusted EBITDA, Adjusted diluted EPS, income tax rate, as adjusted, or free cash flow 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 these items and they may have a substantial and unpredictable impact on our US GAAP results. Constant Currency Constant currency or ex-FX percentages are calculated by excluding the impact the change in average exchange rates between the current and comparable period by currency denomination exposure of the comparable period amount. Organic Growth Organic growth or ex-M&A percentages are calculated by excluding the impact of recent acquisitions and divestitures. Segment Financial Measures The primary measure of segment operating performance is Adjusted EBIT, 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. Rounding Due to rounding the tables presented may not foot. 2 A AXALTA#3#4#5Axalta's ESG Program ■ 1 Progress To Date Initial Sustainability Report in 2013 First set of sustainability goals developed in 2017 ESG Steering Committee established and updated materiality assessment(1) conducted in 2021 Solid ESG scores across key benchmarks, including ISS, MSCI, CDP, Sustainalytics Named one of America's Most Responsible Companies by Newsweek in 4Q 2021 (1) Axalta's ESG materiality assessment was intended to discern the matters that our stakeholders believe are significant to Axalta; these matters may not be material from a financial perspective I ■ Establishment of New Goals Materiality assessment conducted, incorporating key sustainability frameworks including SASB, GRI, and TCFD Internal and external stakeholders consulted, including customers, investors, suppliers, board members, community and local government leaders, and company executives 1 ■ ■ 2030 Goals Highlights 2040 carbon neutral goal is one decade ahead of the deadline set by Paris Agreement Alignment of technology development and innovation investment to help customers accelerate their own sustainability initiatives and achievements Focus on our people via Diversity & Inclusion, safety, and employee development commitments 5 A AXALTA#62030 Sustainability Goals Environmental 50% absolute reduction of Scope 1 and 2 GHG emissions, sourcing at least 50% of electricity from renewable sources Carbon neutral by 2040 AFFORDABLE AND CLEAN ENERGY 7 >20% increase in the percentage of net sales from products, services, and tools that offer sustainability benefits to our customers/markets/communities AFFORDABLE AND 6 CLEAN WATER 13 AND SANITATION a CLIMATE ACTION 9 INDUSTRY, INNOVATION AND INFRASTRUCTURE 10% reduction of process waste, VOC emissions, and water use from operations (normalized to production) SUSTAINABLE CITIES 11 AND COMMUNITIES 12 RESPONSIBLE CONSUMPTION AND PRODUCTION 4 BEE 100% of key suppliers assessed against a robust set of sustainability criteria, reflecting environmental, governance, and reputational risks, including human rights DECENT WORK AND 8 ECONOMIC GROWTH $5M donated to our communities through Axalta's Bright Futures Program 3 GOOD HEALTH AND WELL-BEING PARTNERSHIPS FOR THE GOALS 8 DECENT WORK AND ECONOMIC GROWTH M QUALITY 4 EDUCATION 10 INEQUALITIES Social 30% of management positions to be filled by women 30% of management positions to be filled by under-represented racial/ethnic groups (in US/ Canada) Establish, track, and improve upon a favorable Inclusion Index 5 GENDER EQUALITY 3 Conduct employee engagement survey annually, and achieve participation rates and employee confidence in company follow-up actions greater than the provider benchmark Global top decile recordable injury rates annually while continually striving towards zero injuries REDUCED INEQUALITIES GOOD HEALTH AND WELL-BEING 10 INEQUA 12 RESPONSIBLE CONSUMPTION AND PRODUCTION Governance 80% LA of new technology and innovation developments will have a sustainability benefit AFFORDABLE AND CLEAN ENERGY 9 16 PEACE, JUSTICE AND STRONG INSTITUTIONS INDUSTRY, INNOVATION AND INFRASTRUCTURE SUSTAINABLE CITIES 11 AND COMMUNITIES HA HEBER 100% T active global employees trained on Code of Business Conduct and Ethics For more information, please visit axalta.com/ sustainability 6 A AXALTA#7Q4 Consolidated Results ($ in million), except per share data Performance Coatings Mobility Coatings Net Sales Financial Performance Income from operations Adjusted EBIT % margin Diluted EPS Adjusted EPS $1,075 Q4 2020 (0.5)% Volume 2021 804 333 1,137 95 121 10.6 % $ 0.23 $ 0.30 $ Q4 3.6% Price 2020 0.30 0.58 Net Sales Variance 704 371 1,075 163 205 19.1% (1.2)% FX % Change Incl. FX 14.2 % (10.1)% 5.8 % (42.0)% (41.1)% (23.3)% (48.3)% 3.9% Excl. FX 15.6 % (9.3)% 7.0% 5.8% $1,137 Acq. Q4 2021 Net sales growth from M&A contribution and price realization as strong volume growth in Performance Coatings was offset by Mobility Coatings I I Commentary I Volume growth across all end-markets except Light Vehicle which remains impacted by chip shortages Positive pricing contribution led by Performance Coatings; Mobility Coatings gaining traction through year-end with more progress expected for 2022 M&A contribution from two acquisitions FX headwind driven by the Euro and Lira, offset partly by the Renminbi Adjusted EBIT reduction for Q4 YoY including challenging profit comparison to Q4 2020 Headwinds from raw material, logistics, labor and energy inflation, absence of 2020 temporary savings, and lower Mobility volumes Positive offsets from pricing actions and volume growth in Performance Coatings 7 A AXALTA#8Q4 Performance Coatings Results ($ in million) Refinish Industrial Net Sales Adjusted EBIT % margin $704 Q4 2020 5.0% Financial Performance Volume 2021 471 333 804 100 12.4% Q4 4.6% Price 2020 Net Sales Variance 418 286 704 130 18.4% (1.4)% FX % Change Incl. FX 12.8 % 16.3 % 14.2 % (23.0)% 6.0% Excl. FX 14.7% 17.0 % 15.6 % 14.2% $804 Acq. Q4 2021 Commentary Net sales growth driven by M&A contribution, volume recovery, and pricing realization I Increased volumes from both Refinish and Industrial despite supply chain constraints; exited December with substantial unfilled orders across both end-markets Positive contribution from price-mix across both end-markets as pricing actions continue; mix -2% headwind M&A contribution included first full quarter of U-POL acquisition FX headwind driven by the Euro and Lira, offset partly by the Renminbi Adjusted EBIT reduction YoY from cost pressures Substantial raw material and logistics cost inflation as well as the absence of 2020 temporary savings, offset partly by pricing actions and volume recovery 8 A AXALTA#9#10#11#12#13#14#15#16#17#18#19#20#21#22#23#24