Retention Bonus Approvals in Connection with Merger

Axalta Coating Systems Ltd. has announced the approval of cash retention bonuses for key employees, including executive officers, in connection with its pending merger with AkzoNobel N.V. The bonuses, granted under specific retention agreements, are contingent upon continued employment through a defined retention period, which extends six months post-merger closing. The agreements detail provisions for prorated or full bonus payouts in cases of termination without cause, death, or disability, both before and after the merger closing. Specific amounts were disclosed for Senior Vice President and CFO Carl D. Anderson II ($1,360,009), President of Global Mobility Coatings Hadi H. Awada ($1,040,130), and President of Global Refinish Troy D. Weaver ($1,084,837). These retention bonuses are structured to comply with Section 409A of the U.S. Internal Revenue Code and are subject to the executive’s continued adherence to restrictive covenants.