Highlights

1 AkzoNobel report for the fourth quarter and full-year 2021 2. Highlights Q4 2021 (compared with Q4 2020). Pricing up ; December pricing up 14%. Revenue up 9% and 7% higher in constant currencies. Compared with Q4 2019, revenue was up 12% in constant currencies Volumes 6% lower, flat compared with Q4 2019. Operating income at 205 million (2020: 243 million). Adjusted operating income at 209 million (2020: 294 million). despite raw material and other variable costs increases of 325 million 1 billion share buyback completed in January 2022. 500 million share buyback announced, to be completed by Q1 2023.

2 Full-year 2021 (compared with full-year 2020). Pricing up 7%. Revenue up 12% and 14% higher in constant currencies. Compared with 2019, revenue up 9% in constant currencies Operating income up 16% at 1,118 million (2020: 963 million). Adjusted operating income at 1,092 million (2020: 1,099 million). despite raw material and other variable costs increases of Leading the way in sustainability 769 million In 2021, we became the first paints and coatings company to receive official validation for setting science-based sustainability targets. The commitment we've made a 50% carbon reduction by 2030 (2018 baseline) covers the full value chain and is aligned with the C pathway in the Paris agreement.

3 The validation was confirmed just a few weeks before we became one of the first recipients of the Terra Carta Seal, a major new sustainability award launched at COP26. We were the only paints and coatings company to receive the honor. Outlook AkzoNobel targets to grow at or above its relevant markets, in line with its Grow & Deliver strategy. Trends differ per region and segment, while raw material cost inflation and supply constraints are expected to gradually ease by mid-2022. Plans are in place to deliver the 2 billion adjusted EBITDA. target for 2023, and an average annual 50 basis points increase in return on sales over the period 2021-2023.

4 AkzoNobel targets a leverage ratio of 1-2 times net debt/EBITDA and commits to retain a strong investment grade credit rating. Alternative performance measures (APM). AkzoNobel uses APM adjustments to IFRS measures to provide supplementary information on the report - ing of the underlying developments of the business. A reconciliation of the alternative performance meas- ures to the most directly comparable IFRS measures can be found in the tables on pages 16 and 17. AkzoNobel report for the fourth quarter and full-year 2021 3. Our results at a glance Highlights Q4 2021 Full-year 2021 Summary of financial outcomes (compared with Q4 2020) (compared with full-year 2020) Fourth quarter January-December Pricing up ; December pricing up 14% Pricing up 7% 2020 2021 % in millions / % 2020 2021 %.

5 Revenue up 9% and 7% higher in constant currencies Revenue up 12% and 14% higher in constant currencies 2,209 2,403 9% Revenue 8,530 9,587 12%. (compared with Q4 2019: up 12% in constant currencies), driven (compared with full-year 2019: up 9% in constant currencies), 333 299 (10%) EBITDA1 1,324 1,469 11%. by pricing initiatives and despite supply constraints driven by pricing initiatives and volume growth 380 301 (21%) Adjusted EBITDA1 1,442 1,436 %. Volumes 6% lower, flat compared with Q4 2019 Volumes 7% higher, while acquisitions added 1% 243 205 (16%) Operating income 963 1,118 16%.

6 Raw material and other variable costs increased 325 million Raw material and other variable costs increased 769 million (51) (4) Identified items1 (136) 26. Operating income at 205 million (2020: 243 million), includes Operating income up at 1,118 million (2020: 963 million), 294 209 (29%) Adjusted operating income1 1,099 1,092 (1%). 4 million net negative impact from identified items. OPI margin includes 26 million net positive impact from identified items. OPI margin (%)1 (2020: ) OPI margin (2020: ). Adjusted operating income at 209 million (2020: 294 million), Adjusted operating income at 1,092 million ROS (%)1,2 ROS2 at (2020: ) (2020: 1,099 million), ROS2 at (2020: ).

7 Net cash from operating activities lower at 178 million (2020: Net cash from operating activities lower at 605 million Average invested capital1 6,834 6,829. 615 million), mainly due to the impact from the increase in raw (2020: 1,220 million), mainly due to the impact from the ROI (%)1 material cost on working capital increase in raw material cost on working capital Net income attributable to shareholders at 187 million (2020: Net income attributable to shareholders at 829 million 102 99 Capital expenditures 258 288. 167 million) (2020: 630 million) Net debt 1,034 2,340.

8 EPS from total operations at (2020: ); adjusted EPS EPS from total operations at (2020: ); adjusted EPS. Leverage ratio (net debt/ from continuing operations at (2020: ) from continuing operations at (2020: ) EBITDA)1. 1. Final dividend proposed of per share (2020: per Number of employees 32,200 32,800. The 2019 comparatives are included in this report to allow for proper comparison in light of the COVID-19. impact in 2020. share). 2. ROS is adjusted operating income as percentage of revenue; ROS excluding unallocated cost was reported in relation to the Winning together: 15 by 20 strategy and is no longer reported.

9 1. The 2019 comparatives are included in this report to allow for proper comparison in light of the COVID-19 615 178 Net cash from operating 1,220 605. impact in 2020. activities 2. ROS is adjusted operating income as percentage of revenue; ROS excluding unallocated cost was reported in relation to the Winning together: 15 by 20 strategy and is no longer reported. 167 187 Net income attributable to 630 829. shareholders Weighted average number of shares (in millions). Earnings per share from total operations (in ). Adjusted earnings per share from continuing operations (in )1.

10 1. Membership of Responsible Mica Initiative formalized Alternative performance measures; please refer to reconciliation to the most directly comparable IFRS. measures on pages 16 and 17. We formalized our membership of the Responsible Mica Initiative (RMI), having 2. ROS is adjusted operating income as percentage of revenue; ROS excluding unallocated cost was been one of the founding members when it was launched in 2017. Used in a reported in relation to the Winning together: 15 by 20 strategy and is no longer reported. wide range of industries, mica minerals are mined extensively in India, where a variety of factors contribute to poor working conditions, including the use of child labor.