Exhibit 99.1
| Akzo Nobel N.V. |
 |
October 16, 2026
AkzoNobel to hold Extraordinary General Meeting on November 30, 2026
(AKZA; AKZOY)
Akzo Nobel N.V. (“AkzoNobel”) today announced an Extraordinary
General Meeting ("EGM") that will be held on November 30, 2026. The agenda consists of proposals relating to the planned
all-share merger of equals with Axalta Coating Systems Ltd.
The first proposal concerns an amendment to the articles of association
of the combined company to reflect the definitive proposed name as announced on October 15, 2026: Axanzo N.V. (envisaged post-closing
Euronext Amsterdam and NYSE ticker symbol; AXZ).
The other proposals concern the appointment of Denise Johnson,
Stephan Tanda and Robert Schuchna as non-executive directors of the combined company. As previously announced on August 31, 2026, Ms.
Johnson, Mr. Tanda and Mr. Schuchna have agreed to serve on the Board of Directors of the combined company following completion of the
merger.
Further details on the EGM, including the
notice and the agenda with explanatory notes, are available on AkzoNobel's website.
About AkzoNobel
Since 1792, we’ve been supplying
the innovative paints and coatings that help to color people’s lives and protect what matters most. Our world class portfolio of
brands – including Dulux, International, Sikkens and Interpon – is trusted by customers around the globe. We’re active
in more than 150 countries and use our expertise to sustain and enhance everyday life. Because we believe every surface is an opportunity.
It’s what you’d expect from a pioneering and long-established paints company that’s dedicated to providing more sustainable
solutions and preserving the best of what we have today – while creating an even better tomorrow. Let’s paint the future
together.
Not for publication –
for more information
AkzoNobel Media Relations
|
AkzoNobel
Investor Relations |
T +31 (0)88 - 969 7833
Contact: Joost Ruempol
Media.relations@akzonobel.com |
T +31 (0)88 - 969 0139
Contact: Jan Willem Enhus
Investor.relations@akzonobel.com |
| |
|
Important Information
Regarding the Proposed Axalta Transaction
General Restrictions
This communication is
not for release, publication, or distribution, in whole or in part, in or into, directly or indirectly, any jurisdiction in which such
release, publication, or distribution would be unlawful.
This communication is
not a prospectus and the information in this communication is not intended to be complete. This communication is for informational purposes
only and is not intended to be and shall not constitute an offer to buy or sell, or the solicitation of an offer to buy or sell, any
securities, or an invitation or recommendation to subscribe for, acquire or buy securities of AkzoNobel or Axalta or any other financial
products or securities, in any place or jurisdiction, nor shall there be any offer, solicitation or sale of securities in any jurisdiction
in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such
jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the U.S.
Securities Act of 1933, as amended (the “Securities Act”). Any decision to purchase, subscribe for, otherwise acquire, sell
or otherwise dispose of any securities must be made only on the basis of the information contained in and incorporated by reference into
the prospectus with respect to the shares to be allotted by AkzoNobel in the proposed transaction, which was published on June 24, 2026.
The distribution of this communication may, in some countries, be restricted by law or regulation. Accordingly, persons who come into
possession of this document should inform themselves of and observe these restrictions. To the fullest extent permitted by applicable
law, AkzoNobel and Axalta disclaim any responsibility or liability for the violation of any such restrictions by any person. Neither
AkzoNobel, nor Axalta, nor any of their advisors assume any responsibility for any violation by any person of any of these restrictions.
Shareholders of AkzoNobel and Axalta, respectively, with any doubt as to their position should consult an appropriate professional advisor
without delay.
Christian
Neefestraat 2
1077 WW Amsterdam
P.O. Box 75730
1070 AS Amsterdam
The Netherlands
|
T +31
(0)88 969 7833
E media.relations@akzonobel.com
www.akzonobel.com |

This communication is
addressed to and directed only at (i) persons who are outside the United Kingdom, (ii) persons having professional experience in matters
relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005
(as amended, the “Order”), (iii) persons falling within Article 49(2)(a) to (d) of the Order, or (iv) persons to whom it
may otherwise lawfully be communicated pursuant to the Order (all such persons together being referred to as, “Relevant Persons”).This
communication is directed only at Relevant Persons and persons who are not Relevant Persons should not act or rely on this communication
or any of its contents. Any investment or investment activity to which this communication relates is available only to Relevant Persons
and will be engaged in only with Relevant Persons. Solicitations resulting from this communication will only be responded to if the person
concerned is a Relevant Person.
Additional Information
and Where to Find It
In connection with the
proposed transaction between AkzoNobel and Axalta, AkzoNobel filed with the U.S. Securities and Exchange Commission (the “SEC”)
a registration statement on Form F-4 on May 27, 2026, as amended on June 18, 2026, which included a proxy statement of Axalta that also
constitutes a prospectus with respect to the shares to be offered by AkzoNobel in the proposed transaction. The registration statement
was declared effective by the SEC on June 23, 2026. In connection with the proposed transaction, on June 24, 2026, Axalta filed with
the SEC a definitive proxy statement and, on or about June 24, 2026, Axalta commenced mailing the definitive proxy statement to its holders
of record as of June 11, 2026. Each of AkzoNobel and Axalta will also file other relevant documents in connection with the proposed transaction.
This communication is not a substitute for any registration statement, proxy statement/prospectus or other documents AkzoNobel and/or
Axalta may file with the SEC or any other competent regulator in connection with the proposed transaction. This communication does not
contain all the information that should be considered concerning the proposed transaction and is not intended to form the basis of any
investment decision or any other decision in respect of the proposed transaction. BEFORE MAKING ANY INVESTMENT DECISIONS, INVESTORS,
STOCKHOLDERS AND SHAREHOLDERS OF AKZONOBEL AND AXALTA ARE URGED TO READ CAREFULLY AND IN THEIR ENTIRETY THE PROXY STATEMENT/PROSPECTUS,
AS APPLICABLE, AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS
TO THESE DOCUMENTS, IN CONNECTION WITH THE PROPOSED TRANSACTION WHEN THEY BECOME AVAILABLE, AS THEY CONTAIN OR WILL CONTAIN IMPORTANT
INFORMATION ABOUT AKZONOBEL, AXALTA, THE PROPOSED TRANSACTION AND RELATED MATTERS. The registration statement and proxy statement/prospectus
and other relevant documents filed by AkzoNobel and Axalta with the SEC are available free of charge at the SEC’s website at www.sec.gov.
In addition, investors and shareholders will be able to obtain free copies of the proxy statement/prospectus and other documents filed
with the SEC from Axalta’s investor relations webpage at https://ir.axalta.com/sec-filings/all-sec-filings or from AkzoNobel’s
investor relations webpage at https://www.akzonobel.com/en/investors/all-sec-filings. The contents
of this communication should not be construed as financial, legal, business, investment, tax or other professional advice. Each recipient
should consult with its own professional advisors for any such matter and advice.
Cautionary Statement
Concerning Forward-Looking Statements
This communication contains
forward-looking statements as that term is defined in Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act
of 1934, as amended by the Private Securities Litigation Reform Act of 1995, regarding, among other things, statements about management’s
expectations of AkzoNobel’s and Axalta’s future operating and financial performance, product development, market position,
and business strategy. Such forward-looking statements can sometimes be identified by the use of forward-looking terms such as “believes,”
“expects,” “may,” “will,” “shall,” “should,” “would,” “could,”
“potential,” “seeks,” “aims,” “projects,” “predicts,” “is optimistic,”
“intends,” “plans,” “estimates,” “targets,” “anticipates,” “continues”
or other comparable terms or negatives of these terms, but not all forward-looking statements include such identifying words. You are
cautioned not to rely on these forward-looking statements. Forward-looking statements are based upon current plans, estimates and expectations
that are subject to risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward-looking statements.
We can give no assurance that such plans, estimates or expectations will be achieved and therefore, actual results may differ materially
from any plans, estimates or expectations in such forward-looking statements. Important factors that could cause actual results to differ
materially from such plans, estimates or expectations include: a condition to the closing of the proposed transaction may not be satisfied;
the occurrence of any event that can give rise to termination of the proposed transaction; a regulatory approval that may be required
for the proposed transaction is delayed, is not obtained or is obtained subject to conditions that are not anticipated; AkzoNobel and
Axalta are unable to achieve the synergies and value creation contemplated by the proposed transaction; AkzoNobel and Axalta are unable
to promptly and effectively integrate their businesses; management’s time and attention is diverted on transaction related issues;
the possibility that competing offers or acquisition proposals may be made; disruption from the proposed transaction makes it more difficult
to maintain business, contractual and operational relationships; the credit ratings of AkzoNobel or Axalta decline following the proposed
transaction; legal proceedings are instituted against AkzoNobel or Axalta, including resulting expense or delay; AkzoNobel or Axalta
is unable to retain or hire key personnel; the communication or the consummation of the proposed acquisition has a negative effect on
the market price of the capital stock of AkzoNobel or Axalta or on AkzoNobel’s or Axalta’s operating results; evolving legal,
regulatory and tax regimes; changes in economic, financial, political and regulatory conditions, in the Netherlands, the United States
and elsewhere, and other factors that contribute to uncertainty and volatility, natural and man-made disasters, civil unrest, pandemics
(e.g., the coronavirus (COVID-19) pandemic), geopolitical uncertainty, and conditions that may result from legislative, regulatory, trade
and policy changes associated with the current or subsequent United States or Netherlands administration; the ability of AkzoNobel or
Axalta to successfully recover from a disaster or other business continuity problem due to a hurricane, flood, earthquake, terrorist
attack, war, pandemic, security breach, cyber-attack, power loss, telecommunications failure or other natural or man-made event, including
the ability to function remotely during long-term disruptions; the impact of public health crises, such as pandemics and epidemics and
any related company or governmental policies and actions to protect the health and safety of individuals or governmental policies or
actions to maintain the functioning of national or global economies and markets, including any quarantine, “shelter in place,”
“stay at home,” workforce reduction, social distancing, shut down or similar actions and policies; actions by third parties,
including government agencies; the risk that disruptions from the proposed transaction will harm AkzoNobel’s or Axalta’s
business, including current plans and operations and/or divert management’s attention from AkzoNobel’s or Axalta’s
ongoing business operations; certain restrictions during the pendency of the acquisition that may impact AkzoNobel’s or Axalta’s
ability to pursue certain business opportunities or strategic transactions; AkzoNobel’s or Axalta’s ability to meet expectations
regarding the accounting and tax treatments of the proposed transaction; the risks and uncertainties discussed in AkzoNobel’s latest
annual report as filed with the AFM, the Dutch trade register and on its website at https://www.akzonobel.com/en/investors/results-center;
and the risks and uncertainties discussed in the “Risk Factors” and “Management’s Discussion and Analysis of
Financial Condition and Results of Operations” sections in Axalta’s reports filed with the SEC. These risks, as well as other
risks associated with the proposed transaction, are more fully discussed in the proxy statement/prospectus. Unlisted factors may present
significant additional obstacles to the realization of forward-looking statements. We caution you not to place undue reliance on any
of these forward-looking statements as they are not guarantees of future performance or outcomes and that actual performance and outcomes,
including, without limitation, our actual results of operations, financial condition and liquidity, and the development of new markets
or market segments in which we operate, may differ materially from those made in or suggested by the forward-looking statements contained
in this communication. Except as required by law, neither AkzoNobel nor Axalta assumes any obligation to update or revise the information
contained herein, which speaks only as of the date hereof.