Axalta amends AkzoNobel merger to add second sub for tax integration

On May 27, 2026, the Company entered into Amendment No. 1 to the Merger Agreement (the “Amendment”, and the Original Merger Agreement, as amended by the Amendment, the “Merger Agreement”) with AkzoNobel, which amends the Original Merger Agreement to, among other things, (i) provide for the incorporation of a second wholly owned subsidiary of AkzoNobel organized as an exempted company under the laws of Bermuda (“AkzoNobel Sub 2”), which will be the direct parent of AkzoNobel Sub (together with AkzoNobel Sub 2, the “Merger Subs”), (ii) provide for a second merger (the “Second Merger”) pursuant to which, immediately following the Merger and certain related contributions, the Surviving Company will be merged with and into AkzoNobel Sub 2, with AkzoNobel Sub 2 continuing as the surviving company of the Second Merger (the “Second Surviving Company”) and as a direct wholly owned subsidiary of AkzoNobel and (iii) provide that any of the independent directors to be jointly nominated by Axalta a