Refinish Business Review

Prioritizing Margin Recovery ($ in millions) Cumulative Price-Cost (1) Performance Coatings Mobility Coatings Price Cost Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 ■ Q4 2022 " Q1 2021 Q2 2021 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Q4 2022 Cumulative Price-Cost Gap $2 $24 ($12) ($72) ($104) ($114) ($108) ($52) Accelerating Price to Offset Cost 12% year-over-year and 3% sequential price-mix included strong contributions from every end-market 46% higher variable costs (~$640M) over two-year period ☐ " Mobility pricing more than offset year- over-year inflation in Q4 Cumulative price-cost gap remains negative for three of four end-markets ■ Modest sequential raw material improvement ☐ Variable costs remain well-above historical levels Inflationary headwinds remain in select raw materials, energy and logistics Supply availability and lead times mostly back to normal YOY Price-Cost Gap (2) $2 $22 ($36) ($60) ($32) ($10) $6 $56 ■ (1) Cumulative year-over-year price-mix vs. raw material, energy and logistics EBIT impacts beginning Q1 2021 (2) Year-over-year price-mix vs. raw material, energy and logistics EBIT impacts Note: Numbers may be affected by rounding 10 AXALTA

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