Akzo Nobel N.V.

and thank you for joining the Axo Nobel Q2 Results 2026. My name is Claire and I'll be coordinating your call today. During the presentation, you can register a question by pressing star followed by 1 on your telephone keypad. If you change your mind, please press star followed by 2 on your telephone keypad. I would now like to hand over to Jan Willem, Head of Investor Relations at Axo Nobel to begin. Please go ahead.

Good morning and welcome to Oxenobel's Investor Update for the second quarter of 2026. I'm Jan Willem Enhus, Head of Investor Relations. Today, our CEO, Greg Poux-Guillaume, and CFO, Maarten de Vries, will take you through our results. We'll refer to the presentation, which you can follow by webcast or download from our website, oxenobel.com. A replay of the webcast will also be made available following the event. There will be a Q&A session after the presentation. For additional information, please contact our Investor Relations team. Before we start, a reminder of our forward-looking statements described on slide 2. Please note, this also applies to the conference call and answers to your questions. I will now hand over to Greg, who will start on slide 3 of the presentation.

Thanks, Jan Willem. Good morning to everyone on the call. In Q2, we delivered a quarter of growth and margin extension. Organic sales were up 2% year-on-year, with pricing up 3% and volume stable, with a 1% headwind from Mixx. We did what we said we would do. We implemented the pricing to protect margins. We kept volume stable, and we continued to execute on cost. Profitability continued to trend up. Adjusted gross margin came in at 42.7% of 70 basis points, and adjusted EBITDA margin was 15.4% of 40 basis points, making this the fifth quarter in a row of margin expansion year on year. Jester Ibada was €398 million, up 5% at comparable scope, with disciplined pricing offsetting raw material inflation. On funding, we issued a €750 million bond in June, completing the financing of the special dividend related to the proposed merger with Exalta. The merger preparations are progressing as planned, with the shareholder vote to be held on August 5th. I'd also like to highlight a milestone in sustainability that I'm particularly proud of. We achieved our 50% reduction target for Scope 1 and 2, carbon emissions, and we did it four years ahead of schedule, showcasing that we continue to probably lead the way in our industry. Moving to slide four, Q2 volumes were stable year on year in line with our guidance. In coatings, growth resumed with volumes up 2%. Powder delivered mid-single-digit growth, with architectural up in all regions, and strong momentum in Asia continuing. Marine and Protective had a smaller quarter, with Protective up in Asia, but project delays impacting the Middle East because of the Iran war. Marine was lower on tougher comparatives, and also the fact that a lot of ships were stuck at sea. Rotomutant and Specialty volumes were up mid-single-digit, with aerospace remaining a clear growth engine. Refinish returned to growth overall, while stabilizing further in North America. Industrial coatings was up in the quarter, with growth in coil partly offset by lower volumes in packaging. In deco, volumes were down 4%, mainly driven by EMEA, where a slower DIY season in Western Europe was only partially offset by strong performance in Southern Europe. Latin America was up mid-single digits, driven by a strong performance in Brazil as well as in Colombia. China continued to outperform the stock market, while Southeast Asia delivered growth across all markets, led by a strong volume momentum in Vietnam and in Indonesia. I'll hand over to Maarten for the numbers.