Akzo Nobel N : Fourth quarter / full year

Investor update

Q4 2021

February 9, 2022

Preserving sporting history

This is the impressive Centenario Stadium in Uruguay, which was built to host the first-ever FIFA World Cup in 1930. The stadium has just been renovated and our Inca brand provided a valuable assist by supplying 12,000 liters of paint. An important consideration was using colors that respected the essence of the original project by architect Juan Antonio Scasso. As well as coating exteriors and the stands, our products were also used in the changing rooms, the tunnel and the interior warm-up areas.

Agenda

Key highlights

Financial review

Concluding remarks

Q&A

Alternative performance measures (APM)

AkzoNobel uses APM adjustments to the IFRS measures to provide supplementary information on the

reporting of the underlying developments of the business. A reconciliation of the alternative performance measures to the most

directly comparable IFRS measures can be found in the appendix to this presentation.
This Investor Update covers the highlights for the quarter. We recommend to read the Investor Update in combination with the
AkzoNobel Q4 2021 Report. The Q4 2021 Report provides additional information, including the IAS34 condensed consolidated
financial statements.
All figures in this presentation are unaudited. The interim condensed consolidated financial statements were discussed and approved	Investor update | Q4 2021 2
by the Board of Management and the Supervisory Board. These condensed financial statements have been authorized for issue.

Key highlights

Investor update | Q4 2021 3

Revenue up 9% on strong pricing of 12.5% on track to offset raw material inflation

Q4 2021:				Full Year 2021:
	Revenue		Pricing*		Revenue
	Up 9%		Up 12.5%		Up 12%
	(up 12% vs 2019 in CC)		December pricing up 14%		(up 9% vs 2019 in CC)
	Adjusted		Adjusted EPS*		Adjusted
	operating income*		From continuing operations		operating income*
	Down 29%		€0.74		Down 1%
	Adj. EBITDA down 21%		(Q4 2020: €1.08)		Adj. EBITDA flat

€1 billion share buyback completed in January 2022

Final dividend proposal of €1.54

per share (2020:

€1.52)

*Alternative performance measure, for definitions reconciliation of the alternative performance measures	Investor update | Q4 2021	4
to the most directly comparable IFRS measures please see appendix

Topline growth and continued progress in line with Grow & Deliver strategy

Growth for sixth consecutive quarter (revenue* up 12% vs 2019)

Strong pricing of 12.5% and in December at 14%

Strong growth in Industrial Coatings and paints South Asia

Sequential recovery in

Marine and Protective

Coatings

Despite supply chain volatility, businesses delivered on internal quarterly forecasts

ERP consolidation with 94% of revenue on four SAP systems

All-time high Organizational Health score (72)

ESG recognition: Terra Carta Seal at COP26

*In constant currencies

Investor update | Q4 2021 5