Slide 1: Owens Corning Q1 2026 Investor Presentation
OWENS CORNING Q1 2026 INVESTOR PRESENTATION This presentation shared at the following events: 03/11/26 IR Roadshow Hosted by Deutsche Bank – Baltimore TM Brian Chambers, Chair & Chief Executive Officer 03/05/26 Wolfe Research Housing Conference – New York Todd Fister, Chief Financial Officer 03/04/2
Slide 2: Forward-Looking Statements and Non-GAAP Measures
FORWARD-LOOKING STATEMENTS AND NON-GAAP MEASURES This presentation and the associated remarks contain forward-looking statements. We caution you against relying on these statements as they are subject to risks, uncertainties and other factors and actual results may differ materially from those resul
Slide 3: A Focused Building Products Leader
A FOCUSED BUILDING PRODUCTS LEADER Reshaped with over 50% R&R exposure 2025 REVENUE REVENUE BY END MARKET REVENUE BY GEOGRAPHY Non-Discretionary 8% $10.1B 34% Repair 11% 17% Residential R&R Rest of World 1% Europe New Residential Canada & Mexico 26% 80% United States 23% Non-Residential THREE MARKET
Slide 4: Profitability Outperforming Our Peers
PROFITABILITY OUTPERFORMING OUR PEERS ADJUSTED EBITDA1 MARGIN2 PERFORMANCE VS. PEERS 25% OC Peers 20% 15% 10% 2019 2020 2021 2022 2023 2024 2025 Source: S&P Capital IQ. Peers defined as Carlisle (CSL), Fortune Brands Innovations (FBIN), and MASCO (MAS). 1. Adjusted EBITDA for our peers is determined
Slide 5: Structurally Improved Margins in Lower Markets
STRUCTURALLY IMPROVED MARGINS IN LOWER MARKETS ADJUSTED EBITDA1 MARGIN PERFORMANCE VS. MACROS 25% OC 20% 15% 10% 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Housing Starts1 1,144 1,203 1,266 1,236 1,342 1,577 1,614 1,407 1,385 1,370 Shingle Market2 133 144 136 139 151 159 148 157 160 143 Exist
Slide 6: Higher Structural Margins and More Resilient Earnings
HIGHER STRUCTURAL MARGINS AND MORE RESILIENT EARNINGS TOTAL OC ADJUSTED EBITDA MARGIN MID-20% AVERAGE 20%-27% RANGE ROOFING INSULATION DOORS 30% average EBITDA margin 24% average EBITDA margin Path to 20% EBITDA margin 27%-35% EBITDA margin range 20%-27% EBITDA margin range 13%-22% EBITDA margin ran
Slide 7: High Performing Building Products Leader
HIGH PERFORMING BUILDING PRODUCTS LEADER FINANCIAL TARGETS TO STRATEGIC PRIORITIES OUTPERFORM THE MARKET Strengthen our market $12.5B Mid-20% leading positions revenue adjusted EBITDA by 2028 margin sustained Leverage TM enterprise scale and capabilities $5B+ Mid-teens+ 2025-2028 return on Extend cu
Slide 8: Consistently Executing the OC Advantage
CONSISTENTLY EXECUTING THE OC ADVANTAGE TM CONTINUOUS INVESTING IN OPERATIONAL Organic growth IMPROVING GROWTH EFFICIENCY IMPROVING PRODUCT MIX MARKET ✓ Doors network optimization; Higher, more resilient earnings POSITION & closed 5 facilities ✓ KC fiberglass line CUSTOMER to support ✓ Leverage MIX
Slide 9: Consistent and Disciplined Execution of Our Strategy
CONSISTENT AND DISCIPLINED EXECUTION OF OUR STRATEGY REVENUE ($B) ADJUSTED EBITDA MARGIN (%) Enterprise revenue Sustainable 20%+ CAGR of ~4% EBITDA margins $10.6 24% 25% $9.8 $9.7 $10.1 22% 23% 22% $8.5 18% $6.4 2015- 2021 2022 2023 2024 2025 2015- 2021 2022 2023 2024 2025 2020 Proforma 2020 Average
Slide 10: Significant Annual Cash Flow Generation
SIGNIFICANT ANNUAL CASH FLOW GENERATION OPERATING CASH FLOW ($B) FREE CASH FLOW ($B) Enterprise operating cash flow Significant annual CAGR of ~4% FCF generation $1.9 $1.8 $1.8 $1.7 $1.5 $1.3 $1.2 $1.2 $1.1 $0.9 $1.0 $0.5 2015- 2021 2022 2023 2024 2025 2015- 2021 2022 2023 2024 2025 2020 2020 Averag
Slide 11: Delivering Significant Shareholder Returns
DELIVERING SIGNIFICANT SHAREHOLDER RETURNS DISCIPLINED CAPITAL ALLOCATION STRATEGY FREE CASH FLOW ALLOCATION Maintain investment grade balance sheet targeting 2-3x net debt to adjusted EBITDA leverage Return free cash flow to shareholders through 50% FCF to shareholders dividends and repurchases tar
Slide 12: Investing to Strengthen and Extend OC's Leadership
INVESTING TO STRENGTHEN AND EXTEND OC’S LEADERSHIP 2025-2027 Investments in growth and modernization 2024 5% Reshaping the 4% company Capex as 2028 % of sales Operating a more Capex as modernized network % of sales 12
Slide 13: Leading Technology & Sustainability Position
LEADING TECHNOLOGY & SUSTAINABILITY POSITION DIGITAL TOOLS TO HELP OUR PRODUCT AND PROCESS INNOVATION SUSTAINABILITY IMPACT CUSTOMERS WIN AND GROW Increase the positive impact of our products Customer-inspired product innovation Contractor selling tools Reduce the negative impact of our ~120 new or
Slide 14: Roofing Segment Overview
ROOFING SEGMENT OVERVIEW FINANCIAL PERFORMANCE SHINGLES COMPONENTS ASPHALT NONWOVENS Revenue ($b) EBITDA margin (%) $4.5 35% Thousands 30% 25% $3.0 20% $4.6 $4.4 MARKET-LEADING POSITION IN AN ATTRACTIVE MARKET; non- $3.7 $4.0 15% $1.5 $3.2 10% discretionary repair demand with shift to higher value r
Slide 15: Market-Leading Position in an Attractive Roofing Market
MARKET-LEADING POSITION IN AN ATTRACTIVE ROOFING MARKET SIGNIFICANT OC SHINGLE VOLUME COMES U.S. ASPHALT SHINGLE MARKET LAMINATE SHINGLES VS. STRIP SHINGLES THROUGH OCCN (MM, SQUARES)1 (%)1 Duration® Mix >30,000 New Construction Weather Repair Laminates Strips OCCN Members CONTRACTORS 159 157 160 14
Slide 16: Insulation Segment Overview
INSULATION SEGMENT OVERVIEW FINANCIAL PERFORMANCE Revenue ($b) EBITDA margin (%) N.A. RESIDENTIAL N.A. NON-RESIDENTIAL EUROPE $4.0 25% Thousands $3.0 20% 15% $2.0 $3.7 $3.7 $3.9 $3.7 $3.2 10% INDUSTRY-LEADING BUSINESS IN ATTRACTIVE, GROWING MARKETS $1.0 5% Energy efficiency and product attributes dr
Slide 17: Attractive Long-Term Secular Trends in Insulation
ATTRACTIVE LONG-TERM SECULAR TRENDS IN INSULATION NORTH AMERICA RESIDENTIAL NORTH AMERICA NON-RESIDENTIAL EUROPE Codes drive more Diverse portfolio in Energy efficiency changing insulation in homes growth markets construction practices ~30% 39% >25% more lbs. per home of commercial building spend of
Slide 18: Doors Segment Overview
DOORS SEGMENT OVERVIEW A DIFFERENTIATED MANUFACTURER OF INNOVATIVE DOORS AND RESIDENTIAL RESIDENTIAL LUXURY COMPONENTS DOOR SYSTEMS in attractive categories INTERIOR EXTERIOR EXTERIOR DRIVING A WINNING COST POSITION by exceeding $125 million of original enterprise synergies and identifying $75 milli
Slide 19: Accelerating Doors Growth Through a Unique Go-to-Market Strategy
ACCELERATING DOORS GROWTH THROUGH A UNIQUE GO-TO-MARKET STRATEGY HOME CENTERS WINNING DIFFERENTIATORS • Brand matters: OC a top retail partner REVENUE SYNERGIES AND PRODUCT • Dedicated account teams, integrated Prehung across categories INNOVATION TO systems ENHANCE ORGANIC • Win with unparalleled c
Slide 20: Building a Winning Cost Position in Doors
BUILDING A WINNING COST POSITION IN DOORS ADDITIONAL $75MM IN COST SYNERGIES1 COST IMPROVEMENT PRIORITIES Identified additional $75 million of synergies above the original $125 million enterprise commitment Network Optimization Maintain focus on building a customer centric service organization with
Slide 21: U.S. Roofing Market
APPENDIX A: U.S. ROOFING MARKET
Slide 22: U.S. Roofing Market
APPENDIX A: U.S. ROOFING MARKET U.S. ASPHALT SHINGLE MARKET U.S. ASPHALT SHINGLE MARKET WITH COMPONENTS (MM, SQUARES)1 (MM, SQUARES)2 New Construction Weather Repair New Construction Weather Repair Components Shingles 169 169 172 159 157 160 158 148 10 12 13 154 136 143 143 10 11 41 54 8 41 41 55 41
Slide 23: Additional Financial Information
APPENDIX B: ADDITIONAL FINANCIAL INFORMATION
Slide 24: Key Financial Data – Businesses
APPENDIX B: KEY FINANCIAL DATA – BUSINESSES Owens Corning* Roofing Insulation Doors ($ in millions) Q4 2025 Q4 2024 Q4 2025 Q4 2024 Q4 2025 Q4 2024 Q4 2025 Q4 2024 Net sales 2,142 2,574 774 1,059 916 987 486 564 EBITDA* 362 570 199 338 186 228 33 82 EBITDA* as % of net sales 17% 22% 26% 32% 20% 23%
Slide 25: Key Financial Data – Disaggregated Revenue
APPENDIX B: KEY FINANCIAL DATA – DISAGGREGATED REVENUE Three Months Ended December 31, 2025 ($ in millions) Disaggregation Categories Roofing Insulation Doors Eliminations Consolidated North America Residential $ 625 $ 381 $ 427 $ (32) $ 1,401 North America Non-Residential 101 343 - (2) 442 Total No
Slide 26: Non-GAAP Reconciliations
APPENDIX C: NON-GAAP RECONCILIATIONS
Slide 27: Non-GAAP Reconciliation – Table 1
APPENDIX C: NON-GAAP RECONCILIATION – TABLE 1 27
Slide 28: Non-GAAP Reconciliation – Table 2
APPENDIX C: NON-GAAP RECONCILIATION – TABLE 2 28
Slide 29: Non-GAAP Reconciliation – Table 3
APPENDIX C: NON-GAAP RECONCILIATION – TABLE 3 29
Slide 30: Non-GAAP Reconciliation – Table 4
APPENDIX C: NON-GAAP RECONCILIATION – TABLE 4 30
Slide 31: Non-GAAP Reconciliation – Table 5
APPENDIX C: NON-GAAP RECONCILIATION – TABLE 5 31