Axalta Coating Systems Approves Merger with AkzoNobel at Special Meeting

What Happened

• Axalta Coating Systems Ltd. announced the results of a special general meeting where shareholders approved (1) an amendment to Axalta’s bye‑laws, (2) the Merger Agreement with AkzoNobel, and (3) a nonbinding advisory vote on executive compensation related to the merger. The company reported a quorum of 179,049,089 shares represented out of 214,018,930 issued common shares. Axalta issued a press release with the vote results on August 5, 2026 (filed as Exhibit 99.1).

Key Details

• Bye‑Laws Proposal: Approved — Votes For 178,877,771; Against 63,465; Abstentions 107,853. Received ~83.58% of shares entitled to vote and ~99.96% of votes cast (excl. abstentions).
• Merger Proposal (Merger Agreement with AkzoNobel): Approved — Votes For 178,601,654; Against 55,032; Abstentions 392,403. Received ~83.45% of shares entitled to vote and ~99.97% of votes cast (excl. abstentions).
• Advisory Compensation Proposal (nonbinding): Approved — Votes For 173,821,968; Against 5,088,318; Abstentions 138,803. Received ~81.22% of shares entitled to vote and ~97.16% of votes cast (excl. abstentions).
• An Adjournment Proposal to allow additional solicitation was not needed and therefore was not submitted.

Why It Matters

• These shareholder approvals clear key corporate hurdles for Axalta to proceed with the planned combination with AkzoNobel under the Merger Agreement and implement the approved bye‑law change. The advisory approval of executive compensation signals shareholder support for the deal-related pay arrangements (nonbinding). Investors should view this as a material transaction update—next steps will follow the Merger Agreement timetable and any remaining regulatory or closing conditions.