AkzoNobel Strategy Update 2013 Tcm9-78275

Leading market positions
delivering leading performance

Ton Bchner & Keith Nichols
February 20, 2013
Agenda
1.
Introduction
2.
Market environment
3.
Group strategic update
4.
Business Areas
Coffee break
5.
Financial implications
6.
Summary and conclusion

Questions
Strategy Update 2013
1. Introduction
1. Introduction
2. Market environment
3. Group strategic update
4. Business areas
5. Financial implications
6. Summary and conclusion
Our proposition: Leading market

positions delivering leading performance
AkzoNobel has gone through a significant amount of
strategic change over the past five years
Today, the company has
Excellent portfolio of businesses
Good long term growth potential on the basis of end-user segment growth
Strong positions in high growth markets (44% of revenue)
Leadership positions in many markets
Clear leader in sustainability
Track record of delivering sustainable innovations and products
Strong brands, both in consumer and industrial markets
Clear focus to deliver on our significant potential
Improved returns and cash flow
Leveraging scale
Simplification and standardization
Continued innovation
AkzoNobel strategy
New and realistic 2015 financial targets

focused on quality of earnings
and value creation
Return on sales
(Operating income/revenue)
%
Return on investment
(Operating income/average
12 months invested capital)
%
Net debt/EBITDA
x
12
16
9.0
5.9 *
12
14.0
8.9 *
0
2012
2015
2.0
1.4
<
0
2012
2015
2012
2015
Assumes sales growth (CAGR) for the period of 4%
*2012 excluding impairment (2.1 billion) and after IAS19
AkzoNobel today
Revenue 15.4 billion

50,610 employees
44% of revenue from high growth markets
Major producer of Paints, Coatings and
Specialty Chemicals
Revenue by
Business Area
Operating income*
by Business Area
EBITDA** by
Business Area
Performance
Coatings
36%
37%
38%
44%
27%
5.4%
Growth
2012 vs. 2011
48%
8%
5.9%
Return on sales
(operating income/revenue)
*2012 excluding impairment (2.1 billion) **New definition including incidentals and after IAS19
Decorative
Paints
47%
Specialty
Chemicals
15%
10.4%
EBITDA/revenue
2013 market conditions not expected

to improve significantly
2012 showed challenging market
conditions in most end-user segments
and geographical end markets
Key developments in 2012:
Divestment of Decorative Paints North America
announced
Impairment of 2.1 billion on
continued operations
Exceeded Performance Improvement
Program intermediate targets
2013 market conditions are not expected

to improve significantly
Focus will be on:
Organic growth
Operating income
Return on capital
Operating cash flow
Management remuneration has been
adapted accordingly
Continue building on our end-user segments
and strong high growth market positions
Key management changes
1. Introduction
4. Business Areas
~43% of revenues
~16% of revenues
New Build Projects
Automotive OEM, Parts and Assembly
Maintenance, Renovation and Repair

Building Products and Components
~16% of revenues
Consumer Durables
Consumer Packaged Goods
Automotive Repair
Marine and Air Transport
~25% of revenues
Natural Resource and Energy Industries
Process Industries
Strategy Update 2013 10
In Buildings and Infrastructure, our

main market is in renovation and repair
New non-residential
construction
$ billion, output
Residential housing
completions
Thousand units
Total market maintenance

and repair
$ billion, output
BRIC
CAGR 0.0%
BRIC
CAGR 13.3%
2011 = 11,845
2011 = 1,222
2011 = 1,557
2011 = 3,943
2011 = 1,075
2011
12
13
EUR & US
CAGR 4.2%
EUR & US
CAGR 3.1%
14
Source: IHS / Construction IC
15
16
BRIC
CAGR 12.3%
2011 = 410
EUR & US
CAGR 0.4%
2011
12
13
14
Source: Euromonitor International
15
16
2011
12
13
14
15
16
Source: IHS / Construction IC
Buildings and Infrastructure trends

and implications for strategy and actions
Recent trends
Market contraction
Limited recovery
Mortgage markets restricted
Fewer house purchases
Impact on strategy and

actions going forward
Invest further in our strong positions in the
high growth markets
Restructure proactively in mature markets,
primarily Europe
Build re-paint culture in high growth markets
High growth market outlook positive

Lower growth in the future
Increased demand for improved
sustainability in housing
Continuously innovate to improve

sustainability for
Product itself
Application
End-use
Some government stimulus packages

for infrastructure
In Transportation, our main markets

are vehicle refinish and marine
Light vehicle production
and sales
Million units
Vehicle (car) miles driven

Billion car kilometers
Freight rates
ClarkSea* index $ earnings/day
Production 2011 = 77, CAGR 4.8%

Sales 2011 = 76, CAGR 4.9%
West Europe 2011 = 2,741
growth 2012 = -0.3%
US 2011 = 2,550
growth 2012 = -0.7%
2012 avg = $9,945
China 2011 = 1,120

growth 2012 = 10.2%
2011
12
Source: IHS
13
14
15
16
2011
12
13
14
15
16
Source: Historical data (through 2012) IRF / Euromonitor

International; management estimates for forward
looking data
2006
08
10
12
14
16
* Weighted average of tanker, bulk carrier, containership and gas carrier earnings
Source: Historical data (through 2012) Clarkson
Research Services Limited; management estimates
for forward looking data
Transportation trends and implications

for strategy and actions
Recent trends
Continued growth
Shift to Asia in automotive
manufacture and demand
Increasing use of lighter/
different materials
Vehicle car park increasing,
but repair rate decreasing
Considerable reduction in new

ship building
Reduced maintenance spend as
shipping rates fell

Adapt value proposition and distribution
models for high growth market success
Restructure and reconfigure in contracting
segments and geographies
Innovate to improve functionality,
sustainability and margins
Strengthen business models to support
our customers on the maintenance aspects
Airplane miles continuing to increase

after recession
Consumer Goods trends and

implications for strategy and actions
Recent trends
Continued growth
Geographic shift to Asia in demand,
production and design

Ensure both production and design presence
in high growth countries
Manage margins and/or restructure in
lower value segments
Significant drop in demand in mature

markets during the recession
Recovery muted thus far
Improve multi-level relationships

(e.g. OEM, ODM)
Differentiate through color, design,
and customer process improvement
Different types of demand

Vanishing middle in mature markets
Affordable products are the focus for
growth elsewhere
Industrial trends and implications for

strategy and actions
Recent trends
Cyclical sectors but AkzoNobel

segments are on different cycles
Recession impact muted due to
strong demand in high growth countries
Particularly strong growth in oil and gas
due to high prices and feedstock shifts
Government encouragement of
investment in (renewable) energy

Adapt our structure in mature markets
Expand production and sales force in the
high-growth markets
Increase focus and investment in more
differentiated products
Innovate for additional functionality and
sustainability
Manage margins as raw materials fluctuate
Pulp and paper lower growth but

more stable
High growth markets are 44% of revenue

and their importance will increase
% of 2012 revenue, excluding Decorative Paints North America
38%
Mature Europe
Three year GDP growth*

9%
6%
3%
8%
Emerging Europe
15%
North America
0%
UK
Eurozone
USA
2013
2%
Middle East
and Africa
Latin
America
2014
China
Developing
Asia
2015
26%
Asia Pacific
11%
Latin America
Our goal: Greater than 50% of revenues from high growth markets
*Source: EIU: GDP year on year growth in local currency at constant prices
Capital allocation policy is focused on

high growth markets and efficiency
Capital expenditure
2012, 100% = 826 million (5.4% of revenue)
Major projects underway and timing of spend

Business
Area
2% 15%
25%
58%
Performance Coatings
Decorative Paints
Specialty Chemicals
Other
Capital expenditure will be around 4% of revenues

going forward
Investment 2012 2013

project
Performance
Coatings
China
expansion
Decorative
Paints
UK
megaplant
Decorative
Paints
China
expansion
Specialty
Chemicals
Ningbo
multisite
Specialty
Chemicals
Frankfurt
membrane
Specialty
Chemicals
Brazil
Eldorado
Specialty
Chemicals
Brazil
Suzano
2014 2015
40-50% growth related
Consumer confidence impacts

three of our segments
Recent trends
Consumer confidence
Q4 2012
150
125
100
75
121
50
111
108
89
87
80
79
76
52
25
0
India
Brazil
China
US
Germany
Source: Nielsen, Consumer confidence figures below 100 demonstrate some degree of pessimism
Sweden
UK
Netherlands
France
Purchase Managers Index (PMI) shows

a clear change in trend in Q4 2011
PMI
60
US, China, India

and Brazil indicate
expansion of
manufacturing
Eurozone indicates
further contraction
PMI is a good
indicator for our
Industrial segment
55
50
45
40
Dec-09
Dec-10
Global
Source: JP Morgan
Eurozone
Dec-11
US
China
Dec-12
Brazil
AkzoNobel benefits from its

broad end-user segmentation
and geographical presence
AkzoNobels four end-user segments show a

mixed picture for future development
Buildings and Infrastructure faces challenges, especially in Europe
Marine transportation shows reduced activity levels
Consumer Goods, Industrial, automotive and air transport are
reasonably robust
High growth markets show stronger demand developments in virtually

all segments
North America shows earlier signs of recovery compared to Europe
Consumer confidence varies strongly per region and has a clear influence
on significant end user buying decisions (housing, cars, furniture, etc.)
The optimism levels reflected in the Purchasing Managers Index (PMI)

will have a positive impact on our Industrial segments

1. Introduction
4. Business Areas
The vision and new targets

Vision: Leading market positions delivering leading performance
To be a leader in:
Operating efficiency and customer service
Innovation
Sustainability
New targets
Return on sales (ROS, operating income/revenue)

Return on investment (ROI, operating income/average 12 months invested capital)
Carbon emissions across the value chain
Eco-premium products
AkzoNobel strategy
We will drive five strategic focus areas

1. Care for the customer
1. Care for the customer
2. Reduction of product
and process complexity
3. Focus on cash and return on investment
3. Cash and return

on investment
4. Embedded safety and sustainability
4. Embedded safety
and sustainability
5. Diverse and inclusive talent development
5. Diverse and inclusive

talent development
The company core processes

will support our strategic focus areas
Core processes
Behavior-based and process safety
Process owner
Integrated Supply Chain (HSE)
Operational control cycle
CEO/CFO
Continuous improvement
Integrated Supply Chain

(Operations)
Innovation
Procurement
Talent management
RDI
Integrated Supply Chain
(Procurement)
HR
Actions
> Deliver dependably

> Grow organically
> Innovate
> Simplify
> Standardize
> Continuously improve
Strategy on a page
Strategic focus areas
Processes
Actions
End-user segmentation
Care for the customer

Reduction of product
and process complexity
Cash and return on
investment
Embedded safety
and sustainability
Diverse and inclusive
talent development
Behavior-based
and process safety
Operational
control cycle
Continuous
improvement
Innovation
Procurement
Talent management
Buildings and
Infrastructure
Transportation
Consumer Goods
Industrial
Deliver dependably
Grow organically
Innovate
Simplify
Standardize
Continuously
improve
Our sustainability strategy:

Creating more value with fewer resources
More customer value in our end-user segmentation
Resource scarcity across the value chain will create opportunities

Scope 3 upstream
Scope 1 and 2
Raw materials
Own operations,
including energy use
Scope 3 downstream
Customer operations
End-user
End of life
Scope 4 Energy/ resource benefits in use
Sustainability is business;
Business is sustainability
Downstream eco-premium solutions:

20% of our revenues by 2020
We will increase the revenue from solutions
that generate direct resource and energy benefits
for our customers, consumers and users
Reduction of carbon emissions

25-30% reduction per ton by 2020 (2012 base)
We will reduce our carbon emissions through the value chain
Resource efficiency
As of 2014 AkzoNobel will report on an innovative new index
measuring how we improve resource efficiency across the
full value chain - compared to the value we generate
End-user segment trends,

combined with sustainability,
direct our innovation spend
End-user segments
Sustainability
Sustainability = Business
Business = Sustainability
Direction of
innovation
spend
(2.5% of 2012 revenue)
AkzoNobel delivers innovation

Buildings and
Infrastructure
Dulux Guardian
Transportation
Aerobase
Coating System
A premium, low-VOC
and low-odor soft-sheen
emulsion for interior walls
A consistently
performing OEM-approved
low VOC base coat/clear
coat system for aerospace
Consumer goods
Biostyle CGP
Industrial
Monochloroacetic
acid (MCA)
A range of sustainable
hybrid polymers for
consumer applications
An asset-light approach
to sustainable chemical
production using proprietary
hydrogenation technology
Strategy update 2013 32
Performance Improvement Program

to deliver 500 million in 2013,
one year earlier than planned
Performance Improvement Program
Operational
Excellence
Functional
Excellence
Business Unit
Adaptations
Key summary to date
2013 Plan
Gains of 250 million,

excluding Decorative Paints North America
Costs of 292 million,
excluding Decorative Paints North America
Pulled actions and associated costs forward
Added measures (including European Decorative
Paints) with additional cost in 2012
Accelerate delivery of recurring 500 million

EBITDA gain in 2013, which was originally
intended in 2014
Associated cost is estimated at 205 million
Guidance of 500 million remains even though
North America Decorative Paints will be
divested
Added measures included
Moving from project based to continuous

improvement will be core in 2013
Operational
Excellence
Product and margin management

Consolidation of RD&I
Logistic and warehouse optimization
Functional
Excellence
IT infrastructure simplification
HR shared service model
Finance shared service centers
Organizational redesign of Marine and Protective

Coatings, Wood Finishes and Adhesives, and
Pulp and Performance Chemicals
Additional restructuring of Decorative Paints Europe
Business Unit
Adaptations
Embedding
During 2013, we will embed

continuous improvement
in our businesses
Our actions in 2012 have

simplified the Business Areas
Business Area
Decorative Paints
Business Units
Europe
Latin America
Asia
Marine and Protective Coatings

Automotive and Aerospace Coatings
Powder Coatings
Industrial Coatings
Specialty Chemicals
Functional Chemicals
Industrial Chemicals
Surface Chemistry
Pulp and Performance Chemicals
2012 Actions
Announced divestment
of North America Decorative Paints
Reduction of business units

Wood finishes is now part of
Industrial Coatings
Specialty finishes, previously in
Industrial Coatings, is now
with Automotive
Completed divestment of
Chemicals Pakistan
AkzoNobel strategy
4. Business Areas
1. Introduction
4. Business Areas
The global paints and coatings

market is around 75 billion
By market sector
2011, 100% = 75 billion
Aerospace
Yacht
Packaging
Coil
Marine
Wood
By end-user segment
2011, 100% = 75 billion
Industrial
Decorative
Paints
(43%)
Consumer
Goods
Buildings and
Infrastructure
Vehicle
Refinish
Powder
Transportation
Protective
Performance
Coatings
(57%)
General
Industrial
Source: Orr & Boss; management analysis
Automotive
OEM
AkzoNobel has many leading

market positions
No.1 Position
Decorative
Multiple regions
outside North
America
North America*
Other key players

PPG, regional players
Sherwin-Williams
PPG, regional players
Protective
Sherwin-Williams, Jotun
Powder
Axalta, Jotun, regional players
Auto refinish
Axalta
PPG, AkzoNobel
Wood
Sherwin-Williams, Valspar
Marine
Jotun, Chugoku
Coil
PPG, Beckers
* AkzoNobel not present with North America divestment to PPG
Decorative Paints overview

Revenue by end-user
sub-segment
Revenue by geographic region
New build projects
Mature Europe
8%4%
Maintenance,
renovation and repair
16%
Asia Pacif ic
14%
Latin America
49%
84%
25%
Emerging Europe
Other regions
Decorative Paints key figures

(new definition)
million
2012*
BA-level core processes and capabilities
Revenue
4,297
EBITDA
Operating income
284
94
Return on sales
2.2%
3.0%
# Employees
Branding
Distributor, wholesaler, retail management
Understanding and serving professional painters
Consumer inspiration
Quality management, including product portfolio management
17,020
*After the divestment of Decorative Paints North America, excluding impairment (2.1 billion)
Decorative Paints sees limited overall

market sector growth in the near future
End-user
sub-segment
New build
projects
Maintenance,
renovation and
repair
Geographic region
Europe
North America
Asia
Latin America
Europe
North America
Asia
Latin America
Forward
looking trends
Revenue by Business Unit
Europe
24%
Latin America
14%
62%
Asia
Expected market growth for the

market sectors relevant to
AkzoNobel: 3-4%
After the divestment of North America,

our focus is on adapting Europe,
and investing in high growth markets
Europe
High growth markets
European organization de-layered
Additional investment in China
Better proximity to customers
Continuously expanding the franchise network

in China, India, and South East Asia
Implemented standard processes and merged

ERP system to one
Stronger focus on Eastern Europe,

Middle East and Africa
Expansion of activities in Latin America
Implementing a single business entity
Restructuring cost and benefits for 2013 included

in Performance Improvement Program
Additional costs are expected in 2014; total

recurring operational benefits of 100 million
will be realized by end of 2014
Decorative Paints strategic direction

Noteworthy events 2012
Launched Lets Color brand and
campaign globally
Global campaigns to inspire customers
Expanded store network in China and India
Announcement divestment of Decorative
Paints North America
Realigning and restructuring European
business
Actions going forward
Expand manufacturing capacity in
China and India
Expand market presence in
emerging Europe and the Middle East
Complete the divestment of North America
Launch new products for the
high growth markets
Deliver on the realignment of the European
organization
Expected 2015 financial outcomes

Organic revenue growth: 5%
Return on sales: 7.5%
Return on investment : 12%
Performance Coatings overview

Revenue by end-user segment
Revenue by geographic region

Mature Europe
8% 4%
Transportation
14%
36%
23%
Consumer
Goods
11%
27%
Asia Pacific
Buildings and
Infrastructure
Industrial
North America
30%
27%
20%
Emerging
Europe
Latin America
Other regions
key figures (new definition)
million
2012
Revenue
5,702
EBITDA
673
Operating income
542
Return on sales
9.5%
21.7%
# Employees
21,310
Industrial key account management

Technical support and service
Design, color and color matching
Continuous innovation in functionality and
ease-of-use
Sustainable, safe solutions
Performance Coatings sees growth in

several key market sectors
End-user
segment
market sectors serving
the segment
Transportation
Automotive and air

Marine transport
Consumer
Goods
Powder and packaging

coatings, wood and
specialty plastic finishes
Buildings and
Infrastructure
Protective, coil and

powder coatings, wood
finishes
Industrial
Protective and powder

coatings
*AkzoNobel has a limited position in Automotive OEM coatings
Forward looking
trends

Marine and
Protective
Coatings
32%
28%
Automotive and
Aerospace
Coatings
Powder
Coatings
17%
23%
Industrial
Coatings

AkzoNobel: 4%
Performance Coatings strategic direction

Schramm acquisition integration on track
Opened a new manufacturing facility in Vietnam
Multiple sport stadium contracts for
London Olympics and Brazils future events
McLaren partnership expanded
Realigned organization to four Business Units
(from five)
Reorganized Europe for multiple Business Units
(Wood, Marine, Automotive)

Return on sales: 12%
Return on investment: 25%
Complete manufacturing expansion for

automotive refinish in China
Complete Schramm integration
Continue product line rationalization
Continue ERP consolidation
Specialty Chemicals overview

Revenue by end-user segment
18%
6%
58%
18%
Buildings and
Infrastructure
Transportation
Consumer
Goods
Industrial
Revenue by geographic spread
3%
4%
10%
Mature Europe
North America
40%
Asia Pacific
Latin America
22%
Emerging Europe
Other regions
21%
Specialty Chemicals key figures

(new definition)
million
2012
Revenue
5,543
EBITDA
830
Operating income
500
Return on sales
9.0%
13.6%
# Employees
10,750
Management of integrated value chains

Continuous technological advancement
Engineering and project management
Process safety
Managing capital intensive businesses and expansions
Specialty Chemicals sees limited growth

in its key market sector positions
End -user
segment
Industrial
Specialty Chemical
market sectors serving
the segment
Surface Chemistry,
Industrial Chemicals,
Functional Chemicals,
Pulp and Performance
Consumer
Goods
Surfactants, polymers,
chelates, ethylene amines,
silica products
Buildings and
Infrastructure
Redispersable powders,
cellulosic derivatives,
chlorine, surfactants
Transportation
Forward
looking trends
Chlor-alkali, organic
peroxides, metal alkyls

Functional
Chemicals
21%
37%
Industrial Chemicals
Surface Chemistry
20%
22%
Pulp and
Performance
Chemicals

AkzoNobel: 3%
Key challenges due to capacity surplus in ethylene amines

Significant energy cost differentiation among regions
Specialty Chemicals strategic direction

Acquired Boxing Oleochemicals, China

Further expansion in Ningbo, China multisite
MCA expansion in Taixing, China
Opened bleaching chemical Island in Brazil
and further investment in another site
Demerger and sales of Chemicals Pakistan
Return on sales: 12%
Further integrate and grow Boxing

Benefit from capacity expansions in Taixing,
Brazil and Germany
Generate growth from new products
Further rationalize and consolidate
ERP systems
Return on investment: 15%
Realistic expected 2015 outcomes

Expected Outcomes
16
12.0
12
Return
on
sales
9.5
9.0
7.5
8
2.2
Decorative Paints
32
16
8
0
%
Assumption:
Revenue growth
3 year CAGR
Specialty Chemicals
25.0
21.7
24
Return
on
investment
12.0
2012
2015
15.0
13.6
12.0
3.0
Decorative Paints
5.0
5.0
Specialty Chemicals
8
3.0
4
0
%
Decorative Paints
Specialty Chemicals
1. Introduction
4. Business Areas
Historical EBITDA profitability

shows stable results in
challenging economic times
EBITDA as reported*
EBITDA margin
billion
2.0
%
14
12
1.5
10
8
1.0
1.8
2.0
1.7
1.8
1.9
6
4
0.5
2
0.0
0
2008
2009
2010
EBITDA margin
*All years excluding National Starch
2011
2012
EBITDA
AkzoNobel sources and uses of

cash remains a key challenge
we are addressing
We are not generating enough cash from
operations to adequately meet our needs
Cash flow sources and uses

million
2011
Source
2012
Use
Source
Use
Restructuring and pension top-ups consume a

significant proportion of cash
We have been borrowing to pay dividends
Need to generate more cash from better
performance
Remuneration metrics have been adjusted to
include cash generation
0
EBITA
Provision
Operating working capital
Pensions
Capital expenditures
Dividends
Targets for 2015 are focused

on increased cash generation
and value creation
New targets
Old targets
Change driver
Increase return on sales (ROS,

operating income/ revenue)
to 9%
Grow to 20 billion revenues
Increased focus on delivery of

operating profit after incidentals
Achieve return on investment

(ROI) to 14%
Increase EBITDA each year,

maintaining 13-15% margin
Ultimate driver of value creation

Deliver returns above the cost
of capital
Net debt/EBITDA <2.0 times
Reduce OWC/revenues by
0.5 p.a. towards a 12% level
Fuller measure of cash

generation; not just one
component
Deadline: end 2015
Deadline: medium term
Shorter term
Defined point in time
Increased focus on delivery
and accountability
Incidentals are now included in EBITDA*

as part of our ongoing business
million
Incidentals as reported
2010
2011
Incidentals are now included in EBITDA

unless genuinely one-off and not related to
normal business
(2,520)
2012
(139)
(126)
(32)
(2,170) Restructuring charges are now considered an

ongoing business activity and are not reported
as incidentals
6
(107)
(129)
Performance improvement program

restructuring charges are also now included in
(344)
EBITDA
13
12
40
2,009
1,834
1,901
14.8%
12.6%
12.4%
Restated EBITDA
1,915
1,717
1,597
Restated EBITDA %
14.1%
11.8%
10.4%
Total restated
incidentals
Restated IAS19
incidentals with no
impact on EBITDA
Total incidental
EBITDA adjustment:
IAS19 EBITDA
adjustment
EBITDA as reported
EBITDA %
*Restated for IAS19 adjustments which impact the other line
Operating income is our new focus:

our return on sales target is to deliver
9% in 2015
Going forward, operating income, after
incidentals, and return on sales (ROS,
operating income/revenue) are key metrics
Operating income development

billion
1.5
1.0
This will focus management on delivery and

quality of profits
0.5
0.0
2010
2011
2012*
Return on sales (ROS) development

Operating income/revenue
Operating income and ROS have not

progressed over the last three years
Our ROS target is 9%, an increase of 3.1%
percentage points, by 2015
15%
10%
Absolute operating income is one of the targets

for management remuneration
5%
0%
2010
2011
2012*
2015
Specialty Chemicals
Decorative Paints
AkzoNobel
*2012 excluding impairment (2.1 billion)
Return on investment target

is to deliver 14% in 2015
Return on investment (ROI) development
Operating income/Average 12 month invested capital
40%
Return on investment is another key target for

the group, reflecting our focus on delivering
value through returns in excess of our cost
of capital
20%
Invested capital defined as total assets

(excluding cash, investments in associates,
pension assets, assets held for sale) less tax
liabilities and other payables
10%
Return on investment target is 14%,

an increase of 5.1 percentage points, by 2015
0%
Return on investment is one of the targets for

management remuneration
30%
2010
2011
2012*
2015
Specialty Chemicals
Decorative Paints
AkzoNobel
Variable costs represent

54% of revenue
Profit and loss breakdown*
% of total
100%
Decorative Paints is more driven by

personnel costs in the distribution network,
while Specialty Chemicals has more
production costs
Operating expense growth is primarily
due to wage inflation
0%
Decorative Performance Specialty AkzoNobel
Paints
Coatings Chemicals
The performance improvement program

benefits are equally split
between fixed and variable costs
EBIT margin
Selling, advertising, administration, R&D costs
Fixed production costs
Raw materials, energy and other variable costs
* Rounded percentages
Operating cash flow is

a key internal target
Operating cash flow development
billion
1.5
1.0
0.5
1.1
0.9
1.0
Operating cash flow includes:

EBITDA (new definition)
Change in operating working capital
Capital expenditure
Incidental costs
Management remuneration is linked to

delivery of operating cash flow targets
0.0
2010
*2012 excluding impairment (2.1)
2011
2012*
2015 target is to maintain a net debt to

EBITDA ratio of less than two times
Debt maturities
billion
Net debt/EBITDA
x
1.5
0.9
1.0
0.6
0.3
0.5
0
2013 2014 2015 2016
0.0
2010
2011
2012
Maintain investment grade rating of BBB+

We have a strong liquidity position to support growth
No immediate refinancing is needed
Average cost of debt has reduced over the last
three years
bonds
2018
$ bonds
2022
bonds
Average cost of long term bonds

%
8
6
4
7.29
6.35
5.62
2011
2012
2
0
2010
* At the end of Q3 2012
IAS 19 pension accounting changes

create positive impact on EBITDA
and net income
million
2011 IAS19
impact
2012 IAS19
impact
Statement of income
EBITDA
12
40
Financing expenses
25
62
After-tax impact in statement of income
29
77
Pension net liabilities/(asset)
331
1,486
Other post-retirement liabilities
(28)
(21)
Post-retirement liabilities/(asset)
303
1,465
Incidentals
Balance sheet
Due to changes in IAS 19, the amortization charges in EBITDA will cease and the charges in financing
expenses are significantly lower
The changes in IAS 19 no longer permit corridor accounting. The reported funded status deficit excluding
administration costs previously included in the defined benefit obligation (DBO) liability will become the
new balance sheet liability, with an associated deferred tax impact (not shown on this slide).
Pension cash flow guidance

Defined benefit pension cash top-ups
million
2011 actual
353
2012 actual*
355
2013 estimated
~300
2014 -17 estimated
~330/year
2018 estimated
~100
Top-ups relate mainly to the UK

Top-ups are based on prudent actuarial
valuation of liabilities, which differs from
accounting liability
Actuarial pension deficit of the 2 main UK
plans is estimated at 1.5 2 billion
Recent actuarial funding reviews on ICI and
CPS pension funds in the UK have resulted in
reduced top-ups by 485 million over the next
six years
The next triennial reviews will be completed in
2015
Regular contributions
million 2013 estimated
Defined benefit
110
Defined contribution
180
*Excludes one-off cash transfer of 239 million to ICI Pension Fund in the UK being termination of a contingent asset structure.
New focus to improve performance

and drive value creation
million
Revenue
EBITDA
Depreciation,
amortization
Restated
incidentals
Operating
income
EBITDA
margin
Return on
sales
Invested
capital**
Return on
investment
2010
2011
2012*
2015
Target
13,605 14,604 15,390

1,915
1,717
1,597
(590)
(563)
(625)
(32)
(64)
1,293
1,157
908
14.1%
11.8%
10.4%
9.5%
7.9%
5.9%
Benefits of new targets

Clear focus on value creation
Linked to remuneration
of senior management
9.0%
11,467 11,537 10,238

11.3%
10.0%
8.9%
14.0%
*2012 excluding impairment (2.1 billion) ** Average 12 month invested capital excluding full year impairment

1. Introduction
4. Business Areas
Dividends
Our dividend policy is to pay a stable to rising

dividend each year
1.08
1.05
1.12
1.12
An interim and final dividend will be paid in
cash unless shareholders elect to receive a
stock dividend
0.30
0.32
0.33
0.33
2009
2010
2011
2012
Final dividend
Interim dividend
A smaller Executive Committee

going forward*
Spelling and *
*With effect from the Annual General Meeting on April 26, 2013 **Until June 2013
Short term incentives have been aligned

with our priorities
Executive short term bonus 2013
Bonus
Element
Metric
Financial targets are set based on

Operating income
Operating cash flow
20%
20%
Operating income
30%
Operating cash flow
More than 600 executives are affected

by this change
30%
Personal targets related to

performance improvement
plan
Alignment of priorities
New and realistic 2015 financial targets

focused on quality of earnings
and value creation
Return on sales
(Operating income/revenue)
%
(Operating income/average
12 months invested capital)
%
Net debt/EBITDA
x
12
16
9.0
5.9 *
12
14.0
8.9 *
0
2012
2015
2.0
1.4
<
0
2012
2015
2012
2015
Assumes sales growth (CAGR) for the period of 4%
Summary
Clear end-user segment focus providing forward looking indicators
and direction for our market initiatives and innovation spend
Challenging market conditions expected in the near future
Operational strategy on the basis of:
Well defined strategic focus areas
Core processes
Clear set of actions aimed at continuous efficiency improvements
Clear sustainability strategy and sustainability targets
Guidance and targets defined
A number of new management team members
Focus on operating income, return on investment and cash generation:
remuneration aligned
Leading market positions

delivering leading performance
Today, the company has
Excellent portfolio of businesses
Good long term growth potential on the basis of end-user segment growth
Strong positions in high growth markets (44% of revenue)
Clear leader in sustainability
Track record of delivering sustainable innovations and products
Strong brands, both in consumer and industrial markets
Clear focus to deliver on our significant potential
Improved returns and cash flow
Leveraging scale
Simplification and standardization
Continued innovation
Thank you for your attention
Safe Harbor Statement

This presentation contains statements which address such key issues as
AkzoNobels 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 companys corporate website www.akzonobel.com.
Investor update Full-Year 2012 & Q4 results 72
Appendices
In Consumer Goods, our activities

are spread evenly over consumer
durables and consumer packaging
Consumer electronics
production
$ billion, value added
2011 = 100
Furniture production
Food and beverage

production
2011 = 871

2011 = 109
+7.9% p.a.
CAGR 2.6%
+2.2%
-1.2%
CAGR 1.8%
2011
12
13
Source: Oxford Economics
14
15
16
2011
12
13
14
15
16
2011
12
13
14
15
16
In Industrial, our activity is spread

across the two sub-segments
Brent crude futures price
$, price per barrel
Annual average spot price
2011 = $111
Energy and utilities

construction
$ billion, output
2011 = 360
Chemical production
$ billion, output
2011 = 690
CAGR
3.8%
CAGR
9.4%
100
0
2011
12
13
14
15
16
2011
12
13
14
15
Source: Business Monitor International
16
2011
12
13
14
15
16
By focusing on the full value chain,

we will drive business, resource
and engagement benefits
Scope 3 upstream
Scope 1 and 2
Raw materials
Own operations
Scope 3 downstream
Customer operations
End-user
End of life
Scope 4
Energy/resource benefits in use
Sustainable
business
Cost savings
Cost savings
Improve revenue
and margin
Improve revenue and margin
Resource
efficiency
Reduced material
and energy use
Reduced
energy used
Reduced material
and energy use in
customer processes,
application
Reduced material and energy use

in product use
Capable,
engaged
people
Engaged suppliers
Engaged
employees
Engaged customers
Engaged customers and users
Decorative Paints restated financials,

key assumptions and expected outcomes
million
Revenue
EBITDA
Depreciation,
amortization
Restated
incidentals
Operating
income
EBITDA
margin
Return on
sales
Invested
capital**
Return on
investment
2010
2011
2012*
3,933
4,201
4,297
541
389
284
(205)
(152)
(176)
(2)
(14)
336
235
94
13.8%
9.3%
6.6%
8.5%
5.6%
2.2%
4,908
5,032
3,121
6.8%
4.7%
3.0%
2015
Outcome
Financials are restated for changes to

incidental treatment and exclusion of the
North American Decorative Paints business
Expected outcomes
Return on sales of 7.5% by 2015
Return on investment of 12% by 2015
7.5%
Key assumption
Revenue CAGR of 5% to 2015
12.0%
*2012 excluding impairment (2.1 billion) ** Average 12 month invested capital excluding full year impairment
Performance Coatings restated financials,

million
Revenue
EBITDA
Depreciation,
amortization
Restated
incidentals
Operating
income
EBITDA
margin
Return on
sales
Invested
capital*
Return on
investment
2010
2011
2012
2015
Outcome
4,786
5,170
5,702
610
572
673
(107)
(116)
(131)
(16)
487
458
542
12.7%
11.1%
11.8%
10.2%
8.9%
9.5%
2,063
2,267
2,499
23.6%
20.2%
21.7%
*Average 12 month invested capital

incidental treatment
Expected outcomes
Return on sales of 12% by 2015
Return on investment of 25% by 2015
Key assumption
12.0%
25.0%
Specialty Chemicals restated financials,

million
Revenue
EBITDA
Depreciation,
amortization
Restated
incidentals
Operating
income
EBITDA
margin
Return on
sales
Invested
capital*
Return on
investment
2010
2011
2012
4.943
5.335
5.543
915
909
830
(260)
(281)
(306)
(51)
(6)
(24)
604
622
500
18.5%
17.0%
15.0%
12.2%
11.7%
9.0%
3,464
3,406
3,678
17.4%
18.3% 13.6%
* New definition **Average 12 month invested capital
2015
Outcome

incidental treatment
Expected outcomes
Return on sales of 12% by 2015
Return on investment 15% by 2015
Key assumptions
12.0%
15.0%
Incidentals now included in EBITDA as

part of ongoing business
million
2010
2011
2012
Restructuring costs
(104)
(129)
(324)
(2,106)
(49)
(9)
(36)
33
10
(45)
(19)
(9)
(139)
(126)
(2,520)
Restructuring costs
Impairment Deco
(2,106)
(49)
(9)
(20)
33
10
(30)
Other incidental results
(16)
(14)
Total Restated Incidentals (incl IAS 19 impact)
(32)
(2,170)
(107)
(129)
(350)
Remaining difference due to definition change)
(107)
(129)
(344)
EBITDA as reported
2,009
1,834
1,901
EBITDA adjustment due to new definitions
(107)
(129)
(344)
13
12
40
1,915
1,717
1,597
Impairment Deco
Results related to major legal,
anti-trust and environmental cases
Results of acquisitions and divestments
Other incidental results
Total Incidentals as reported
Results related to major legal,

anti-trust and environmental cases
Results of acquisitions and divestments
Total difference
Of which IAS 19 impact on incidentals
EBITDA adjustment due to IAS 19 impact

Restated EBITDA (IAS 19 impact included)
Variable costs analysis

2012 (excluding Decorative North America)
Packaging
Energy & other variable costs*
Raw materials
Solvents
6%
7%
30%
Chemicals and
intermediates***
16%
3%
Additives
9%
Other raw materials**
7%
3%
Pigments
14%
Resins
5%
Titanium
dioxide
Coatings specialties
* Other variable costs include variable selling costs (e.g. freight) and products for resale ** Other raw materials include cardolite, hylar etc.
*** Chemicals and intermediates include caustic soda, acetic acid, tallow, ethylene, ethylene oxide, sulfur, amines etc.
Debt duration 4.2 years and

no refinancing currently planned
Debt maturities*
million (nominal amounts)
bonds
$ bonds
bonds
825
800
750
622
44
379
306
15
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
Strong liquidity position to support growth

Undrawn revolving credit facility of 1.7 billion (2017) and 0.1 billion (2016)
1.5 and $3 billion commercial paper programs, backed by the revolving credit facility
Net cash and cash equivalents 1.6 billion*
* At the end of Q4 2012
Financial restatement summary for

AkzoNobel Group
FY2010
Revenues
As Reported (excluding NA Deco)

FY2011
Q1-12
Q2-12
Q3-12
Q4-12
13.605
14.604
2.009
1.834
438
577
-435
-155
-419
-144
-114
-39
-115
-40
1.419
1.271
285
422
367
202
-139
-126
-52
-44
-2.229
-195
Operating Income
1.280
1.145
233
378
-1.862
-1.244
Operating Income excl. impaired goodwill
1.280
1.145
233
378
244
862
-327
25
-336
24
-65
4
-82
5
-66
5
-54
-1
-267
13
Finance Charges & Associates
-302
-312
-61
-77
-61
-55
Profit Before Tax

Tax
Minorities
Discontinued Income
978
-174
-83
33
833
-233
-64
-59
172
-61
-14
-26
301
-82
-22
4
-1.923
-58
-9
-392
-48
29
-18
-22
Net Income
754
477
71
201
-2.382
-59
Adjusted Net Income
912
790
162
259
234
EPS
3,23
2,04
0,30
0,85
Adjusted EPS
3,91
3,10
0,69
1,09
14,8%
10,4%
12,6%
8,7%
11,8%
7,7%
9,4%
9,4%
7,8%
7,8%
12,1%
EBITDA
Depreciation
Amortisation
EBIT
Incidentals
Total Finance Charges

Associates
EBITDA Margin%
EBIT Margin %
Return on Sales %
Return on Sales % (excl. impaired goodwill)
Moving Average ROI%
Moving Average ROI% (excl. impaired goodwill)
Capex
Invested Capital average (12M)
Invested Capital average (12M) (excl. impaired goodwill)
OWC
OWC%
3.707
4.044
3.966
FY2012
Restatements (Incidentals & IAS 19)

FY2010 FY2011 Q1-12 Q2-12 Q3-12 Q4-12 FY2012
FY2010
FY2011
New Format
Q1-12
Q2-12
Q3-12
Q4-12
FY2012
3.707
3.966
3.673
15.390
3.673
15.390
13.605
14.604
4.044
523
363
1.901
-94
-117
-28
-23
-95
-158
-304
1.915
1.717
410
554
428
205
1.597
-115
-41
-119
-42
-463
-162
-435
-155
-419
-144
-114
-39
-115
-40
-115
-41
-119
-42
-463
-162
1.276
-94
-117
-28
-23
-95
-158
-304
1.325
1.154
257
399
272
44
972
-2.520
107
129
31
33
99
187
350
-32
-21
-11
-2.130
-8
-2.170
13
12
10
29
46
1.293
1.157
236
388
-1.858
36
-1.198
1.293
1.157
236
388
248
36
908
-2
-
25
-
15
-
15
-
16
-
16
-
62
-
-329
25
-311
24
-50
4
-67
5
-50
5
-38
-1
-205
13
-254
-2
25
15
15
16
16
62
-304
-287
-46
-62
-45
-39
-192
-1.498
-172
-63
-436
11
-2
25
37
-8
-
18
-5
-
25
-7
-
20
-6
-
45
-13
-
108
-31
-
989
-176
-83
58
870
-241
-64
-59
190
-66
-14
-26
326
-89
-22
4
-1.903
-64
-9
-392
-3
16
-18
-22
-1.390
-203
-63
-436
-2.169
34
29
13
18
14
32
77
788
506
84
219
-2.368
-27
-2.092
119
774
-66
-157
-10
-7
-57
-95
-169
846
633
152
252
177
24
605
-10,00
-0,25
-9,14
0,15
0,12
0,06
0,07
0,06
0,14
0,32
3,38
2,16
0,36
0,92
-9,94
-0,11
-8,82
0,98
0,50
3,26
-0,28
-0,27
-0,04
-0,03
-0,24
-0,40
-0,71
3,63
2,83
0,65
1,06
0,74
0,10
2,55
14,3%
10,4%
13,2%
9,3%
9,9%
5,5%
12,4%
8,3%
14,1%
9,7%
11,8%
7,9%
11,1%
6,9%
13,7%
9,9%
10,8%
6,9%
5,6%
1,2%
10,4%
6,3%
6,3%
6,3%
9,3%
9,3%
-46,9%
6,2%
0,2%
0,2%
-8,1%
5,6%
9,5%
9,5%
7,9%
7,9%
6,4%
6,4%
9,6%
9,6%
-46,8%
6,3%
1,0%
1,0%
-7,8%
5,9%
10,5%
10,2%
9,9%
9,7%
10,0%
10,0%
11,3%
11,3%
10,0%
10,0%
9,4%
8,7%
-9,2%
-10,1%
-10,1%
8,9%
492
658
135
166
195
330
826
492
658
135
166
195
330
826
11.721
11.721
12.088
12.088
12.447
12.882
13.107
12.781
12.781
-254
-551
-642
-763
-865
-964
-964
11.467
11.467
11.537
11.537
11.805
12.119
12.242
11.817
11.817
10.238
1.839
1.891
2.259
2.314
2.178
1.659
1.659
-147
-57
-62
-87
-76
-87
-87
1.692
1.834
2.197
2.227
2.102
1.572
1.572
13,5%
13,2%
15,1%
14,1%
13,6%
11,2%
11,2%
12,4%
12,9%
14,8%
13,8%
13,3%
10,7%
10,7%

Decorative Paints
FY2010

FY2011
Q1-12
Q2-12
Q3-12
Q4-12

FY2010 FY2011 Q1-12 Q2-12 Q3-12 Q4-12 FY2012
Q3-12
Q4-12
FY2012
4.201
974
1.187
1.141
995
4.297
3.933
4.201
974
1.187
1.141
995
4.297
593
479
90
158
130
47
425
-52
-90
-22
-3
-33
-83
-141
541
389
68
155
97
-36
284
-124
-81
-91
-61
-27
-16
-26
-17
-26
-18
-27
-19
-106
-70
-124
-81
-91
-61
-27
-16
-26
-17
-26
-18
-27
-19
-106
-70
388
327
47
115
86
249
-52
-90
-22
-3
-33
-83
-141
336
237
25
112
53
-82
108
Incidentals
-52
-92
-22
-3
-2.144
-92
-2.261
52
90
22
33
83
141
-2
-2.111
-9
-2.120
Operating Income
336
235
25
112
-2.058
-91
-2.012
336
235
25
112
-2.058
-91
-2.012
Operating Income excl. impaired goodwill
336
235
25
112
48
-91
94
336
235
25
112
48
-91
94
15,1%
9,9%
11,4%
7,8%
9,2%
4,8%
13,3%
9,7%
11,4%
7,5%
4,7%
0,1%
9,9%
5,8%
13,8%
8,5%
9,3%
5,6%
7,0%
2,6%
13,1%
9,4%
8,5%
4,6%
-3,6%
-8,2%
6,6%
2,5%
Return on Sales %
Return on Sales % (excl. impaired goodwill)
8,5%
8,5%
5,6%
5,6%
2,6%
2,6%
9,4%
9,4%
-180,4%
4,2%
-9,1%
-9,1%
-46,8%
2,2%
8,5%
8,5%
5,6%
5,6%
2,6%
2,6%
9,4%
9,4%
-180,4%
4,2%
-9,1%
-9,1%
-46,8%
2,2%
Moving average ROI %

Moving Average ROI% (excl. impaired goodwill)
7,2%
5,9%
5,9%
5,2%
4,7%
4,8%
4,8%
6,8%
6,8%
4,7%
4,7%
4,4%
3,7%
-37,4%
-42,7%
-42,8%
3,0%
127
155
29
41
44
92
206
127
155
29
41
44
92
206
5.407
5.500
5.614
5.738
5.658
5.151
5.151
-499
-468
-463
-463
-459
-450
-450
4.908
4.908
5.032
5.032
5.151
5.275
5.199
4.701
4.701
3.121
474
434
654
661
587
353
353
-71
403
434
654
661
587
353
353
OWC %
12,7%
11,2%
16,8%
13,9%
12,9%
8,9%
8,9%
10,8%
11,2%
16,8%
13,9%
12,9%
8,9%
8,9%
Number of Employees
16.865
17.120
17.320
17.430
17.220
17.020
17.020
16.685
17.120
17.320
17.430
17.220
17.020
17.020
EBITDA
Depreciation
Amortisation
EBIT
EBITDA Margin %
EBIT Margin %
Capex
Invested Capital average (12M) (excl. impaired goodwill)
OWC
FY2010
FY2011
New Format
Q1-12
Q2-12
3.933
Revenues
FY2012

Revenues
EBITDA
Depreciation
Amortisation
EBIT
Incidentals
Operating Income
As Reported
Q1-12
Q2-12
Q3-12
Q4-12
FY2012
5.170
1.369
1.472
1.467
1.394
5.702
647
611
164
213
202
190
769
-37
-39
-5
-9
-39
-81
-26
-86
-30
-23
-9
-25
-8
-23
-10
-24
-9
-95
-36
540
495
132
180
169
157
638
-37
-39
-5
-53
-37
-5
-9
-39
-43
-96
37
39
FY2010
FY2011
4.786

FY2010 FY2011 Q1-12 Q2-12 Q3-12 Q4-12 FY2012
New Format
Q1-12
Q2-12
Q3-12
Q4-12
FY2012
5.170
1.369
1.472
1.467
1.394
5.702
610
572
159
204
163
147
673
-81
-26
-86
-30
-23
-9
-25
-8
-23
-10
-24
-9
-95
-36
-43
-96
503
456
127
171
130
114
542
39
43
96
-16
FY2010
FY2011
4.786
-43
-96
-9
-39
487
458
127
171
130
114
542
487
458
127
171
130
114
542
EBITDA Margin %
EBIT Margin %
13,5%
11,3%
11,8%
9,6%
12,0%
9,6%
14,5%
12,2%
13,8%
11,5%
13,6%
11,3%
13,5%
11,2%
12,7%
10,5%
11,1%
8,8%
11,6%
9,3%
13,9%
11,6%
11,1%
8,9%
10,5%
8,2%
11,8%
9,5%
Return on Sales %
10,2%
8,9%
9,3%
11,6%
8,9%
8,2%
9,5%
10,2%
8,9%
9,3%
11,6%
8,9%
8,2%
9,5%
26,3%
22,0%
22,0%
22,9%
23,9%
25,6%
25,6%
23,6%
20,2%
20,4%
20,5%
20,6%
21,7%
21,7%
Capex
87
116
18
25
23
57
123
87
116
18
25
23
57
123
2.054
2.253
2.326
2.397
2.471
2.488
2.488
14
10
11
11
2.063
2.267
2.336
2.406
2.480
2.499
2.499
714
772
852
871
857
742
742
-23
691
772
852
871
857
742
742
OWC %
14,4%
14,6%
15,6%
14,8%
14,6%
13,3%
13,3%
14,0%
14,6%
15,6%
14,8%
14,6%
13,3%
13,3%
Number of Employees
21.020
21.960
21.910
21.920
21.650
21.310
21.310
21.020
21.960
21.910
21.910
21.640
21.310
21.310

OWC

Specialty Chemicals
Revenues
EBITDA
Depreciation
Amortisation
EBIT
Incidentals
Operating Income
As Reported
Q1-12
Q2-12
Q3-12
Q4-12
FY2012
5.335
1.399
1.431
1.393
1.320
5.543
939
906
235
255
227
172
889
-24
-20
-19
-214
-46
-228
-53
-61
-13
-63
-15
-62
-13
-65
-14
-251
-55
679
625
161
177
152
93
583
-24
-75
-3
-21
-23
-19
-20
-83
24
-3
FY2010
FY2011
4.943

FY2010 FY2011 Q1-12 Q2-12 Q3-12 Q4-12 FY2012
New Format
Q1-12
Q2-12
Q3-12
Q4-12
FY2012
5.335
1.399
1.431
1.393
1.320
5.543
915
909
235
235
208
152
830
-214
-46
-228
-53
-61
-13
-63
-15
-62
-13
-65
-14
-251
-55
-20
-59
655
628
161
157
133
73
524
19
20
59
-51
-6
-21
-3
-24
FY2010
FY2011
4.943
-20
-59
-20
-19
20
604
622
140
154
133
73
500
604
622
140
154
133
73
500
EBITDA Margin %
EBIT Margin %
19,0%
13,7%
17,0%
11,7%
16,8%
11,5%
17,8%
12,4%
16,3%
10,9%
13,0%
7,0%
16,0%
10,5%
18,5%
13,3%
17,0%
11,8%
16,8%
11,5%
16,4%
11,0%
14,9%
9,5%
11,5%
5,5%
15,0%
9,5%
Return on Sales %
12,2%
11,7%
10,0%
10,8%
9,5%
5,5%
9,0%
12,2%
11,7%
10,0%
10,8%
9,5%
5,5%
9,0%
19,2%
17,8%
17,3%
17,6%
16,8%
15,6%
15,6%
17,4%
18,3%
16,9%
16,7%
15,5%
13,6%
13,6%
273
365
87
95
125
177
484
273
365
87
95
125
177
484
3.545
3.521
3.528
3.615
3.693
3.735
3.735
-81
-115
-54
-55
-57
-57
-57
3.464
3.406
3.474
3.560
3.636
3.678
3.678
651
685
754
783
734
564
564
-14
637
685
754
783
734
564
564
OWC %
12,9%
13,3%
13,5%
13,7%
13,2%
10,7%
10,7%
12,6%
13,3%
13,5%
13,7%
13,2%
10,7%
10,7%
Number of Employees
11.080
11.510
11.860
11.980
11.950
10.750
10.750
11.080
11.510
11.860
11.980
11.950
10.750
10.750
Capex
OWC

Other Activities
FY2010
Revenues
EBITDA
Depreciation
Amortisation
EBIT
Incidentals
Operating Income
Capex

FY2011
Q1-12
Q2-12
Q3-12
Q4-12
FY2012

FY2010 FY2011 Q1-12 Q2-12 Q3-12 Q4-12 FY2012
FY2010
FY2011
New Format
Q1-12
Q2-12
Q3-12
Q4-12
FY2012
-57
-102
-35
-46
-35
-36
-152
-57
-102
-35
-46
-35
-36
-152
-170
-162
-51
-49
-36
-46
-182
19
-1
-4
-12
-8
-151
-153
-52
-40
-40
-58
-190
-16
-2
-14
-
-3
-1
-1
-
-4
-
-3
-
-11
-1
-16
-2
-14
-
-3
-1
-1
-
-4
-
-3
-
-11
-1
-188
-176
-55
-50
-40
-49
-194
19
-1
-4
-12
-8
-169
-167
-56
-41
-44
-61
-202
41
-4
-9
-27
-40
-80
-6
41
54
35
-8
-19
-26
-147
-170
-59
-59
-67
-89
-274
13
12
10
29
46
-134
-158
-56
-49
-63
-60
-228
22
13
22
13

AkzoNobel Strategy Update 2013 Tcm9-78275

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Leading market positions

delivering leading performance

Group strategic update

Summary and conclusion

Strategy Update 2013

Strategy Update 2013

Our proposition: Leading market

Strategy Update 2013

Strategy Update 2013

New and realistic 2015 financial targets

Assumes sales growth (CAGR) for the period of 4%

*2012 excluding impairment (2.1 billion) and after IAS19

Strategy Update 2013

Revenue 15.4 billion

Strategy Update 2013

2013 market conditions not expected

2013 market conditions are not expected

Strategy Update 2013

Strategy Update 2013

New Build Projects

Automotive OEM, Parts and Assembly

Maintenance, Renovation and Repair

Strategy Update 2013 10

In Buildings and Infrastructure, our

Total market maintenance

Source: IHS / Construction IC

Source: Euromonitor International

Source: IHS / Construction IC

Strategy Update 2013 11

Buildings and Infrastructure trends

Impact on strategy and

High growth market outlook positive

Continuously innovate to improve

Some government stimulus packages

Strategy Update 2013 12

In Transportation, our main markets

Vehicle (car) miles driven

Production 2011 = 77, CAGR 4.8%

2012 avg = $9,945

China 2011 = 1,120

Source: Historical data (through 2012) IRF / Euromonitor

Strategy Update 2013 13

Transportation trends and implications

Considerable reduction in new

Impact on strategy and

Airplane miles continuing to increase

Strategy Update 2013 14

Consumer Goods trends and

Impact on strategy and

Significant drop in demand in mature

Improve multi-level relationships

Different types of demand

Strategy Update 2013 15

Industrial trends and implications for

Cyclical sectors but AkzoNobel

Impact on strategy and

Pulp and paper lower growth but

Strategy Update 2013 16

High growth markets are 44% of revenue

Three year GDP growth*

Strategy Update 2013 17

Capital allocation policy is focused on

Major projects underway and timing of spend

Capital expenditure will be around 4% of revenues