The document summarizes the company's financial results for Q1 2015. Revenue increased 6% to €3.591 billion due to favorable currency effects, though volume growth was mixed by region. Operating income grew 42% to €306 million due to process optimization efforts, reduced restructuring expenses, and lower costs. All business segments saw revenue and operating income increases. The company is on track to meet its 2015 targets despite challenges in some regions.

1. Media Update
Q1 2015 results
Maëlys Castella
April 21, 2015

2. 2Media Update Q1 2015 results
Highlights
Operational and financial review
Conclusion
Questions
Agenda

3. Q1 2014 Q1 2015
Financial results Q1 2015 – improved
performance in a challenging environment
3Media Update Q1 2015 results
6.4
8.5
Q1 2014 Q1 2015
9.7
10.6
Q1 2014 Q1 2015
Revenue
€ million
Return on Investment %
• Performance improvement reflecting the positive effect of process optimization efforts, reduced
restructuring expenses, lower costs and favorable currency developments
• Net income attributable to shareholders up 24 percent at €160 million
• Adjusted EPS up 25 percent at €0.76 (2014: €0.61)
• Net cash outflow from operating activities was €622 million (2014: €552 million)
• On track to deliver our 2015 targets
216
306
Q1 2014 Q1 2015
Operating income
€ million
3,383
3,591
+6% +42%
Return on Sales %

4. 4Media Update Q1 2015 results
Operational and financial review

5. -2%
0% 0%
8% 6%
Volume Price/Mix Acquisitions/
Divestments
Exchange rates Total
Q1 2015 revenue and operating income –
continuing to deliver improved performance
€ million Q1 2014 Q1 2015 Δ%
Revenue 3,383 3,591 6
Operating income 216 306 42
Ratio, % Q1 2014 Q1 2015
Return on sales 6.4 8.5
Return on sales (excluding restructuring costs) 7.7 8.8
Moving average return on investment 9.7 10.6
Increase
Decrease
Revenue development Q1 2015 vs. Q1 2014
5Media Update Q1 2015 results

6. -1%-3%
0%
+7% 3%
Volume Price/Mix Acquisitions/
Divestments
Exchange rates Total
-4%
6
= • Revenues up, due to favorable
currency effects. Volume growth
in Latin America more than
offset by soft demand in Europe
and Asia
• Price/mix down largely due to
impact from the sale of the
German stores in Q1 2014
• Operating income up due to
benefits from new operating
model, lower restructuring
charges, strict cost containment
and favorable currency effects
Decorative Paints
Q1 2015 highlights
€ million Q1 2014 Q1 2015 Δ%
Revenue 865 890 3
Operating income 17 50 194
Ratio, % Q1 2014 Q1 2015
Return on sales 2.0 5.6
Return on sales (excl. restr. costs) 4.5 6.2
Increase
Decrease
Revenue development Q1 2015 vs. Q1 2014
Media Update Q1 2015 results

7. 7
Performance Coatings
Q1 2015 highlights
Increase
Decrease
-3%
+1%
0%
+10% +8%
Volume Price/Mix Acquisitions/
Divestments
Exchange rates Total
Revenue development Q1 2015 vs. Q1 2014
• Revenue higher in all
businesses; favorable
currencies and price/mix offset
lower volumes
• Volumes up in Automotive and
Specialty Coatings although
down in other businesses.
Regionally, volumes up in North
America and lower in other
regions, with performance
across segments mixed
regionally
• Operating income up due to
simplified business structure,
improvement activities and
reduced restructuring expenses
-1%
€ million Q1 2014 Q1 2015 Δ%
Revenue 1,319 1,430 8
Operating income 126 170 35
Ratio, % Q1 2014 Q1 2015
Return on sales 9.6 11.9
Return on sales (excl. restr. costs) 10.7 12.3
Media Update Q1 2015 results

8. 8
• Revenue up, mainly due to
favorable currency effects ;
volumes and price/mix were flat
• Developments in bleaching and
chelates segments positive
while volumes in oil drilling were
lower. US continued to show
good developments; China and
regions such as Russia and
Middle East were challenging
• Operating income up due to
improvement actions, cost
containment, and lower
restructuring costs
• Closing of Paper Chemicals
divestment expected in Q2 2015
Specialty Chemicals
Q1 2015 highlights
Increase
Decrease
0% 0%
+6%
Volume Price/Mix Acquisitions/ Divestments Exchange rates Total
0%
Revenue development Q1 2015 vs. Q1 2014
€ million Q1 2014 Q1 2015 Δ%
Revenue 1,222 1,296 6
Operating income 135 163 21
Ratio, % Q1 2014 Q1 2015
Return on sales 11.0 12.6
Return on sales (excl. restr. costs) 11.6 12.6
+6%
Media Update Q1 2015 results

9. 9Media Update Q1 2015 results
Conclusion

10. Conclusion
10Media Update Q1 2015 results
• Improved performance reflects benefits from improvement programs, reduced restructuring expenses,
lower costs and favorable currency effects
• Higher return on sales and return on investment, despite challenging market conditions in many regions
• Exchange rate movements and lower growth rates in high growth economies, will principally determine
dynamics of 2015
• Preparations made in 2013 and 2014 form a sound basis for improved performance
• We are on track to deliver the 2015 targets

11. 11Media Update Q1 2015 results
Questions

12. Safe Harbor Statement
This presentation contains statements which address such key issues as
AkzoNobel’s growth strategy, future financial results, market positions, product development, products in
the pipeline, and product approvals. Such statements should be carefully considered, and it should be
understood that many factors could cause forecasted and actual results to differ from these statements.
These factors include, but are not limited to, price fluctuations, currency fluctuations, developments in raw
material and personnel costs, pensions, physical and environmental risks, legal issues, and legislative,
fiscal, and other regulatory measures. Stated competitive positions are based on management estimates
supported by information provided by specialized external agencies. For a more comprehensive discussion
of the risk factors affecting our business please see our latest Annual Report, a copy of which can be found
on the company’s corporate website www.akzonobel.com.
12Media Update Q1 2015 results

13. 13Media Update Q1 2015 results
Appendices

14. 14Media Update Q1 2015 results
Human Cities in action
A new report developed by the
Economist Intelligence Unit and AkzoNobel
is now available which explores how cities
create optimal environments for citizens.
Called Tomorrow’s cities, we worked
together to collect opinions from leading
city experts and executives, who share their
views on a number or important themes
and topics.
To download the report visit:
www.akzonobel.com/humancities
Highlights Q1 2015:

15. Decorative Paints
Up to 10%
annual energy
savings
Doing more with less
We supplied a low carbon
construction project in eastern
China with solar-reflecting paint to
coat more than 260,000 square
meters of exterior walls.
15Media Update Q1 2015 results
Performance Coatings
Major
automotive
agreement
signed
Driving innovation
We extended our official supplier
partnership with McLaren Racing
and will continue learning from
Formula 1 to drive innovations in
other industries.
Highlights Q1 2015
Specialty Chemicals
Ningbo
investment passes
€400million
Organic growth
We broke ground on a
new alkoxylation facility at
our Ningbo multi-site, strengthening
our position as one of the leading
surfactant producers in China.