Refinish Business Review

Q4 Consolidated Results Financial Performance ($ in million), except Q4 % Change per share data 2022 2021 Incl. FX Excl. FX Performance Coatings 819 804 1.8 % 7.5 % Mobility Coatings 418 333 25.5 % 30.2 % Net Sales 1,237 1,137 8.7 % 14.1 % Income from operations 110 95 15.9 % Adjusted EBIT 147 121 21.7 % % margin 11.9 % 10.6 % Diluted EPS $ Adjusted diluted EPS $ 0.20 $ 0.38 $ 0.23 (13.0%) 0.30 26.7 % $1,137 Net Sales Variance 2.4% 11.7% (5.4%) 8.7% $1,237 Q4 2021 Volume Price-Mix FX Q4 2022 Commentary Net sales growth from price realization and market recovery 12% price-mix growth driven by double-digit growth from all four end-markets 2% volume growth year-over-year as market recovery in Mobility more than offset softer Industrial and weaker China environments FX headwind driven by the Euro and Chinese Renminbi Adjusted EBIT growth year-over-year driven by pricing momentum and volume growth especially in Mobility Coatings Mobility Coatings Adjusted EBIT growth drove majority of year-over-year profitability improvement Adjusted EBIT margin improved year-over-year and sequentially reflecting price prioritization across all end- markets China lockdowns, FX and Russia-Ukraine conflict continued to pressure Adjusted EBIT by ~$17 million year-over-year 11 AXALTA

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