Refinish Business Review

Full Year 2022 Consolidated Results Financial Performance FY ($ in million), except % Change per share data 2022 2021 Incl. FX Excl. FX Performance Coatings 3,327 3,096 7.4 % 12.9 % Mobility Coatings 1,558 1,320 18.0 % 21.7 % Net Sales 4,884 4,416 10.6 % 15.5 % Income from operations 423 462 (8.5%) Adj. EBIT 565 623 (9.3%) % margin 11.6 % 14.1 % Diluted EPS 0.86 $ 1.14 (24.6%) Adjusted diluted EPS $ 1.48 $ 1.67 (11.4%) $4,416 3.7% Net Sales Variance 10.1% (4.9%) 1.7% 10.6% $4,884 2021 Volume Price-Mix FX Acq/One- Time 2022 Commentary Net sales increase of 16% ex-FX reflects strong pricing realization, volume growth and acquisition contribution Volume growth was led by market recovery in Mobility Coatings and share gains in Refinish Price-mix contribution from all four end-markets FX headwinds driven by the Euro, Turkish Lira, Chinese Renminbi and British Pound Modest M&A contribution from acquisitions closed in 2021, benefiting Performance Coatings Adjusted EBIT year-over-year decline primarily resulted from variable cost inflation and higher operating expenses Delivered year-over-year profit growth in 2H2022 reflecting moderating raw material environment and successful pricing execution ■ China lockdowns, FX and Russia-Ukraine conflict pressured Adjusted EBIT by ~$70 million year-over-year 14 AXALTA

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