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2016-02-10

Akzo Nobel NV: AkzoNobel successfully delivers on 2015 targets

February 10, 2016

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

Full-year results
2015

* Successfully delivered 2015 financial targets:

A record year, withreturn on sales
at 10.6 percent andreturn on investment
at 15.0 percent.Net debt/EBITDA
at 0.6

* Total dividend proposed for 2015 up 7 percent at €1.55 (2014: €1.45)
* Operating income up 59 percent at €1,573 million, as a result of process
optimization, lower costs, reduced restructuring expenses, favorable
currency development and incidental items
* Revenue up 4 percent to €14,859 million (2014: €14,296 million), due to 6
percent favorable currency effects, partly offset by divestments and lower
volumes
* Adjusted earnings per share (EPS) up 43 percent at €4.02 (2014: €2.81)
* Net income attributable to shareholders up 79 percent at €979 million
(2014: €546 million)
* Net cash inflow from operating activities up 40 percent at €1,136 million
(2014: €811 million)
* Ranked number one on the Dow Jones Sustainability Index in the Materials
industry group
* 2016 expected to be a challenging year

AkzoNobel today reported fourth quarter and full-year results including the
successful delivery on 2015 financial targets. Full-year operating income
increased 59 percent to €1,573 million (excluding incidentals up 36 percent
at €1,462 million), as a result of process optimization, lower costs, reduced
restructuring expenses, favorable currency developments and incidental items.
The company was recognized as a leader in the field of sustainability by the
Dow Jones Sustainability Index (the Materials industry group) for the fourth
year in a row.

CEO Ton Büchner:

"We successfully achieved our 2015 financial targets in what was a record year
for AkzoNobel in a number of areas including return on sales, return on
investment and sustainability. The proposed increase of the total dividend is
also a clear sign that we are more confident about our cashflow generation.

Looking ahead, we expect 2016 to be a challenging year and anticipate limited
support from the markets in which we operate. We will continue to build on
our foundation of operational excellence, adding organic growth and
innovation to the next phase of our strategy, creating everyday essentials to
make lives more liveable and inspiring."

Performance on our 2015 targets

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| 2015 target 2015 result 2015 results |
| |
| excl. incidentals |
| Return on sales (ROS) % 9.0 10.6 9.8 |
| Return on investments (ROI) % 14.0 15.0 14.0 |
| Net debt/EBITDA <2.0 0.6 0.6 |
-----------------------------------------------------------------------------

Full-year 2015 in € million

-----------------------------------------------------------------------------
| FY 2014 FY 2015 delta % |
| Revenue 14,296 14,859 4 |
| Operating income 987 1,573 59 |
| Operating income excl. incidental items 1,072 1,462 36 |
| Return on sales (ROS) % 6.9 10.6 |
| Return on sales (ROS) % excl. incidental items 7.5 9.8 |
| EBITDA 1,690 2,088 24 |
| Net income attributable to shareholders 546 979 79 |
-----------------------------------------------------------------------------
Q4 2015 in € million

-----------------------------------------------------------------------------
| Q4 2014 Q4 2015 delta % |
| Revenue 3,517 3,559 1 |
| Operating income 83 345 316 |
| Operating income excl. incidental items 168 268 60 |
| Return on sales (ROS) % 2.4 9.7 |
| Return on sales (ROS) % excl. incidental items 4.8 7.5 |
| EBITDA 330 426 29 |
| Net income attributable to shareholders 7 203 |
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Decorative Paints:
Full-year operating income increased by 39 percent as a result of the new
operating model, lower costs, reduced restructuring expenses and currency
developments. Revenue was up 3 percent due to favorable currencies offsetting
adverse price/mix and volumes. Volumes were down 1 percent overall for the
full-year, with positive developments in Asia offset by Latin America and
Europe.

Performance Coatings:
Full-year operating income was up 45 percent, due to performance improvement
initiatives, management delayering, lower costs, reduced restructuring
expenses and currencies. Revenue was up 7 percent, driven by favorable
price/mix and currencies offsetting lower volumes. Volumes were down 2
percent across the segments, impacted by lower demand in Brazil and ongoing
spending declines in the global oil and gas industry.

Specialty Chemicals:
Full-year operating income was up 20 percent due to continuous improvement
programs, favorable currency effects, lower costs and incidental items.
Revenue was up 2 percent due to favorable currency effects, partly offset by
the divestment of the Paper Chemicals business and adverse price effects.
Overall volumes were flat.

Business Area highlights
in € million

---------------------------------------------------------------------------
| Decorative Paints |
| Q4 2014 Q4 2015 delta% FY 2014 FY 2015 delta% |
| 920 931 1 Revenue 3,909 4,007 3 |
| 16 46 188 Operating income 248 345 39 |
| 1.7 4.9 ROS % 6.3 8.6 |
| 58 83 43 EBITDA 405 495 22 |
| Performance Coatings |
| Q4 2014 Q4 2015 delta% FY 2014 FY 2015 delta% |
| 1,416 1,482 5 Revenue 5,589 5,955 7 |
| 106 192 81 Operating income 545 792 45 |
| 7.5 13.0 ROS % 9.8 13.3 |
| 142 229 61 EBITDA 687 938 37 |
| Specialty Chemicals |
| Q4 2014 Q4 2015 delta% FY 2014 FY 2015 delta% |
| 1,194 1,167 (2) Revenue 4,883 4,988 2 |
| 93 91 (2) Operating income 508 609 20 |
| 7.8 7.8 ROS % 10.4 12.2 |
| 175 171 (2) EBITDA 815 898 10 |
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Outlook

We expect 2016 to be a challenging year. Difficult market conditions continue
in Brazil, China and Russia. No significant improvement is anticipated in
Europe, particularly in the Buildings and Infrastructure segment.
Deflationary pressures continue and currency tailwinds are moderating.

More information on our financial guidance for 2016-2018 can be found on
www.akzonobel.com.

The Q4 and full-year 2015 report can be
downloaded via the AkzoNobel Report iPad app
http://bit.ly/obljrfor
read online at
www.akzonobel.com/quarterlyresults.

- - -
AkzoNobel is a leading global paints and coatings company and a major producer
of specialty chemicals. Calling on centuries of expertise, we supply
industries and consumers worldwide with innovative products and sustainable
technologies designed to meet the growing demands of our fast-changing
planet. Headquartered in Amsterdam, the Netherlands, we have approximately
45,000 people in around 80 countries, while our portfolio includes well-known
brands such as Dulux, Sikkens, International, Interpon and Eka. Consistently
ranked as one of the leaders in the area of sustainability, we are committed
to making life more liveable and our cities more human.

Not for publication - for more information

-----------------------------------------------------------
| Corporate Media Relations Corporate Investor Relations |
| T +31 (0)88 - 969 7833 T +31 (0)88 - 969 7854 |
| Contact: Diana Abrahams Contact: Lloyd Midwinter |
-----------------------------------------------------------
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

Infographic Q4 FY
http://hugin.info/130660/R/1984891/727805.pdf
Media release AkzoNobel Q4 and Full-Year results
http://hugin.info/130660/R/1984891/727804.pdf
Report Q4 and Full-Year results
http://hugin.info/130660/R/1984891/727807.pdf
Photo Ton Büchner
http://hugin.info/130660/R/1984891/727806.jpg

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Akzo Nobel NV via Globenewswire

HUG#1984891

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