Statement on the business in Russia

AkzoNobel has discontinued a significant part of its activities in Russia.

The company has stopped Russian activities in Marine, Protective and Yacht Coatings, Vehicle Refinishes, Automotive Coatings and Aerospace Coatings. This is also true for part of our Industrial Coatings (Packaging and Wood Finishes) and Powder Coatings businesses.

The operations that remain are centered around our Decorative Paints activities, and have been fully localized and ringfenced. They operate on their own, with no financial support from Akzo Nobel N.V. We have no involvement in product development or marketing activities. In addition, we do not supply products to companies or persons who are on the sanctions list, whether located inside or outside of Russia.

AkzoNobel complies with all applicable sanctions regimes and continues to follow the situation closely as new developments occur. We continue to explore all options that would minimize our presence in Russia, while protecting our employees who continue to work in the country following the invasion of Ukraine.

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