Akzo Nobel N.V. — AGM Information 2017

Nov 30, 2017

Media release

November 30, 2017

AkzoNobel shareholders support separation of Specialty Chemicals business

New CFO and three Supervisory Board members gain shareholder approval

Akzo Nobel N.V. (AKZA.AS; AKZOY)

At today's Extraordinary General Meeting (EGM), shareholders of Akzo Nobel N.V. (AkzoNobel) approved the separation of its Specialty Chemicals business as part of its strategy to create two focused, high performing businesses; Paints and Coatings and Specialty Chemicals.

The appointment of new Chief Financial Officer Maarten de Vries as a member of the Board of Management, effective January 1 was also approved, in addition to the appointment of three new members to the AkzoNobel Supervisory Board: Sue Clark, Patrick Thomas, and Michiel Jaski.

Shareholder approval enables AkzoNobel to separate its Specialty Chemicals business through a private sale or legal demerger. The dual-track process ensures the appropriate flexibility necessary to obtain an optimal result for shareholders and other stakeholders as well as certainty of execution.

As previously announced, AkzoNobel intends to return the vast majority of the net proceeds from the separation of Specialty Chemicals to its shareholders – starting with advance proceeds of €1 billion through a special cash dividend. The special dividend will be paid on December 7, 2017.

Thierry Vanlancker, Chief Executive Officer, commented: "We welcome Maarten de Vries to AkzoNobel. With his extensive international business experience he will further strengthen the leadership of our company. Today marks a significant milestone in the transformation of AkzoNobel into two focused high performing businesses, which remains on track for April 2018."

Antony Burgmans, Chairman of the Supervisory Board, commented: "Today's approval ensures we maintain momentum in the process to separate our Specialty Chemicals business. Our new appointments bring a wealth of new insight and experience to our Boards, supporting AkzoNobel to deliver sustainable growth and value creation."

This is a public announcement by AkzoNobel N.V. pursuant to section 17 paragraph 1 of the European Market Abuse Regulation (596/2014).

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About AkzoNobel

AkzoNobel creates everyday essentials to make people's lives more liveable and inspiring. As a leading global paints and coatings company and a major producer of specialty chemicals, we supply essential ingredients, essential protection and essential color to industries and consumers worldwide. Backed by a pioneering heritage, our innovative products and sustainable technologies are designed to meet the growing demands of our fast-changing planet, while making life easier. Headquartered in Amsterdam, the Netherlands, we have approximately 46,000 people in around 80 countries, while our portfolio includes well-known brands such as Dulux, Sikkens, International, Interpon and Eka. Consistently ranked as a leader in sustainability, we are dedicated to energizing cities and communities while creating a protected, colorful world where life is improved by what we do.

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T +31 (0)88 – 969 7833 T +31 (0)88 – 969 7590 Contact: Diana Abrahams Contact: Lloyd Midwinter

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Christian Neefestraat 2 T +31 (0)88 969 7833 P.O. Box 75730 www.akzonobel.com 1070 AS Amsterdam Netherlands

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Safe Harbor Statement

This press release contains statements which address key issues such 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 our website:www.akzonobel.com.

Information on Mr. Maarten Jan De Vries

(1962, Dutch)

Proposed appointment: 2018 Proposed term of office: 2018 – 2022

Mr. De Vries will join AkzoNobel as a member of the Executive Committee and Chief Financial Officer on January 1, 2018. He has broad international business knowledge and extensive experience in driving organizational change and transformation programs. During the past three years Mr. De Vries served as CFO and Executive Board member at Intertrust Group and TNT Express. From 2011 to 2014, he was CEO of TP Vision, a globally operating stand-alone business. Prior to this he held various senior positions at Royal Philips Electronics, including Chief Information Officer and Chief Purchasing Officer at Group Management Committee level.

In accordance with the articles of association of Akzo Nobel N.V., Mr. De Vries is nominated by the Supervisory Board for appointment as member of AkzoNobel's Board of Management for a first term of four years as set forth in the articles of association of Akzo Nobel N.V., with effect from January 1, 2018.

Mr. De Vries holds no shares in the company.

Education:

Post-Graduate Education for Controllership, 1989, Vrije University of Amsterdam

Graduated (Master degree) at Faculty for Business Economics, 1986, University of Groningen

Sue Michelle Clark (Nominated)

(1964, British) B.Sc. (Hons), MBA

Proposed appointment: 2017 Proposed term of office: 2017 - 2021

• Non-Executive Director Britvic plc.
• Non-Executive Director Bakkavor Group plc.
• Non- Executive Director Tulchan Communications LLP.
• Former Managing Director Europe SABMiller plc.
• Former Director Corporate Affairs Railtrack plc. and Scottish Power plc.

Mrs. Clark was European Managing Director of the global brewer SABMiller until the company's recent acquisition by ABI. She is currently a Non-Executive Director and Remuneration Committee Chair of the UK listed soft drinks business Britvic and a Non-Executive Director of Bakkavor, an international food manufacturing company. Prior to moving into general management she had a professional background as Director of Corporate Affairs at Railtrack plc. and Scottish Power plc. and she is currently a Non-Executive Director of Tulchan Communications LLP. Mrs. Clark holds a B.Sc. (Hons) from the University of Manchester and an MBA from the Edinburgh Business School, Heriot Watt University.

Mrs. Clark's background incorporates roles in sectors spanning fast-moving consumer goods, regulated transport, energy and utilities. Her prior senior executive and non-executive board experience includes first-hand experience of major corporate transactions and business transformations with international remits covering Europe, India, North and South America, Australia and Africa. Mrs. Clark has strong Investor Relations and Business Strategy credentials.

In accordance with the articles of association of Akzo Nobel N.V., Mrs. Clark is nominated by the Supervisory Board for appointment as member of AkzoNobel's Supervisory Board for a first four-year term as set forth in the articles of association of Akzo Nobel N.V., with effect from November 30, 2017.

Mrs. Clark holds no ordinary shares in the company.

Patrick Webster Thomas (Nominated)

(1957, British) C.Eng, M.A. (Hons) Engineering Science

Proposed appointment: 2017 Proposed term of office: 2017 - 2021

• Chairman and CEO Covestro A.G.
• Former Chairman and CEO Bayer MaterialScience A.G.
• Former Non-Executive Director BG Group plc.
• Former President of Specialties, Huntsman International LLC.
• Former CEO Polyurethanes division of ICI plc.

Mr. Thomas is currently the Chairman and CEO of Covestro A.G., and previously Chairman and CEO of its predecessor, Bayer MaterialScience A.G. Concurrently, he served as Non-Executive Director of BG Group plc. until 2016. He has been a member of both the Audit Committee and the Remuneration Committee of the multinational oil and gas company over a period of six years. Prior to this, Mr. Thomas worked as President of Specialties, Huntsman International LLC, as a management consultant to private equity firms in the industrials sector and has been CEO of ICI's Polyurethanes division. Mr. Thomas holds a master's degree in Engineering Science from Oxford University. He is a fellow of the Royal Academy of Engineering, a fellow of the Institute of Engineering and Technology. Mr. Thomas takes leading roles in several industry associations including CEFIC (Conseil Européen de l'Industrie Chimique), WPC (World Plastics Council) and VCI (Verband der chemischen Industrie) and he was president of PlasticsEurope from 2011-2017.

Mr. Thomas has a proven track record of success within the chemicals and materials science industry. In accordance with the articles of association of Akzo Nobel N.V., Mr. Thomas is nominated by the Supervisory Board for appointment as member of AkzoNobel's Supervisory Board for a first four-year term as set forth in the articles of association of Akzo Nobel N.V., with effect from November 30, 2017.

Mr. Thomas holds no ordinary shares in the company.

Michiel Jaski (Nominated)

(1959, Dutch) M.Sc., MBA

Proposed appointment: 2017 Proposed term of office: 2017 - 2021

• Former CEO of OFFICEFIRST Immobilien
• Former CEO of Grontmij
• Former Member of Executive Board of ARCADIS
• Former VP at Shell
• Member of Supervisory Board of Synbra Group
• Chairman of Advisory Board of 'Foundation National Park De Hoge Veluwe'

From May 2016 to March 2017, Mr. Jaski served as CEO of OFFICEFIRST Immobilien AG, leading the company through a dual track process which resulted in a successful sale to Blackstone. Prior to that, he was CEO of Grontmij NV leading a restructuring and merger process. Mr. Jaski was also a member of the Executive Board of ARCADIS for over ten years. Before joining ARCADIS, he was active in management positions at Shell in the UK and the Netherlands. Prior to joining Shell, he worked for the international electronics firm Philips in the UK and Belgium as a project leader in operational research and IT.

Mr. Jaski is currently a member of Supervisory Board of Synbra Group and Chairman of the Advisory Board of 'Foundation National Park De Hoge Veluwe'. He holds a M.Sc. degree in Hydraulics/Hydrology from Wageningen University, the Netherlands and an MBA from INSEAD, Fontainebleau, France.

In accordance with the articles of association of Akzo Nobel N.V., Mr. Jaski is nominated by the Supervisory Board for appointment as member of AkzoNobel's Supervisory Board for a first four-year term as set forth in the articles of association of Akzo Nobel N.V., with effect from November 30, 2017.

Mr. Jaski holds no ordinary shares in the company.