Q2 2021 Financial Results

Introduction and Q2 Financial Highlights Second Quarter 2021 Highlights Q2 2021 net sales increased 72.6% year-over-year to $1,127 million with substantial contributions from all end-markets versus last year's COVID-19-impacted results ■ ■ ■ ■ ■ ■ Performance Coatings price-mix increased 14.0% including ~20% increase in Refinish and up mid-single digits in Industrial Income from operations of $190 million versus a loss of $65 million in Q2 2020; Adjusted EBIT of $173 million compared with a loss of $12 million in Q2 2020 Adjusted EBITDA of $230 million, with a 20.4% margin; record level LTM Adjusted EBITDA of $992 million Diluted EPS of $0.54 versus $(0.35) in Q2 2020; Adjusted diluted EPS of $0.48 versus $(0.15) in Q2 2020 Net debt to LTM Adjusted EBITDA of 2.6x at June 30; strong cash flow from operations of $108 million Total liquidity of ~$1.7 billion, including $150 million extension of undrawn revolver capacity Repurchased 1.9 million shares of common stock ($60 million spend) at $31.73 average price per share; $124 million year-to-date share repurchases, with program expected to remain active in 2H On July 7, announced agreement to acquire U-POL, a manufacturer of repair and refinish products 3 A AXALTA

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