Refinish Business Review

Q4 Mobility Coatings Results Financial Performance Q4 % Change ($ in million) 2022 2021 Incl. FX Excl. FX Light Vehicle 320 255 25.4 % 30.7 % Commercial Vehicle 99 78 25.9 % 28.4 % Net Sales 418 333 25.5 % 30.2 % Adjusted EBIT 18 (4) 602.9 % % margin 4.2 % (1.1%) $333 Net Sales Variance 18.7% 11.5% (4.7%) 25.5% $418 Q4 2021 Volume Price-Mix FX Q4 2022 Commentary Net sales growth from above-market volume growth and double-digit price-mix in both end-markets Light Vehicle growth supported by improvement in global builds and new business wins Commercial Vehicle growth supported by robust demand in Americas and western Europe Price-mix growth included modest retroactive benefit from actions taken with select customers FX headwind driven by the Euro and Chinese Renminbi Adjusted EBIT improvement supported by pent up demand and market recovery " Adjusted EBIT growth led by recovery in Light Vehicle; Commercial Vehicle remained strong through better volumes and pricing Mobility Coatings pricing more than offset year-over-year inflation for the first time; however, cumulative gap remains 13 AXALTA

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