Azek — Q4 FY2025 Earnings Presentation
24 slides from Azek's earnings presentation, May 21, 2025
Slide 1: Fourth Quarter FY25 Earnings Presentation
Fourth Quarter FY25 Earnings Presentation (9) JamesHardie
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Slide 3: Agenda
Agenda FY25 Review and FY26 Outlook Progress Against Key North America Strategies ) Core Business Overview and Long-Term Outlook Aaron Erter Rachel Wilson CHIEF EXECUTIVE CHIEF FINANCIAL OFFICER OFFICER Creating A Leading Building Products Growth Platform Q4 FY25 Financial Results & FY26 Guidance oa
Slide 4: Strong 2025 Lays Groundwork for Profitable Growth in 2026
Strong 2025 Lays Groundwork for Profitable Growth in 2026 FY25 Accomplishments 7 a Winning Capturing Investing by Materal Conversion ia Growth & Seale rxsthe Customer“ WithOur Superior __Whie Delverng : ue Propositon Robust Proftabity Achieved Solid Results Consistent with FY25 Guidance @ semrettari
Slide 5: Strategies Drive FY25 Single-Family Exteriors Growth
Strategies Drive FY25 Single-Family Exteriors Growth +LS0% GROWTH IN NORTH AMERICA SINGLE-FAMILY EXTERIORS UNDERPINS MOMENTUM OF CORE STRATEGIES Repair & Remodel New Construction ColorPlus® Driving Growth Revitalized ALLIANCE™ Growing Share & Deepening Relationships in Key R&R Markets, Enabling Cont
Slide 6: GJ oomnscton a
GJ oomnscton a : eee ~22% cameron GS Unvivated Business Support Double-Digit +500bps Triple Revenue Growth Adj. EBITDA Margin Adj. EBITDA ‘ue poston oostfieCash Fon @ samt on ras tates onsennaton
Slide 7: James Hardie and AZEK combination
“AZEK (>) JamesHardie + roe Peron aren a & 28 Creates Accelerates Provides Delivers Unlocks leading exterior and material conversion- customers a bestin-class significant value ‘outdoor living led growth ‘comprehensive financial profile through higher growth platform ‘solution of leading and broader
Slide 8: High Conviction in Commercial Synergy Realization
High Conviction in Commercial Synergy Realization ENTHUSIASM ACROSS VALUE CHAIN REINFORCES OUR CONFIDENCE IN SYNERGY TARGETS @ samestardie + “AZEK $500mm+ a Converting Contractors + Actos iralConerson Win Our especie Contac 1 fhtence Ou Respects Cotacsto ton Pease Partnering with Our Dealers ‘+ Harn
Slide 9: Focused on Delivering Quick Cost Synergy Wins
Focused on Delivering Quick Cost Synergy Wins A SOLID BASELINE OF IDENTIFIED COST SYNERGIES Breakdown of Cost Synergies By Area Time to Achieve Cost Synergies snisteati f Administrative Manufacturing a Procurement ‘Duplicative Back-Office + Indirect Manufacturing & /& Rate Puncions Packaging Cot com
Slide 10: Compelling Financial Profile Driving Value Creation
Compelling Financial Profile Driving Value Creation Accelerated Top Line Growth & | Accelerated EBITDA Growth & Strong Free Cash Flow & Clear Path to Deleverage Post-Close +250bps +300bps $1bn+ Top-Line Growth EBITOA Growin fomcol free Gesh Flow! Upto $500mm+ $125mm+ < 2.0x $500mm Commer Synergies c
Slide 11: Financial Key Messages
Financial Key Messages Delivered on Our FY25 Guidance At Positioned to Outperform the Market énll in FY26 and Beyond a Planning for Profitable Growth in FY26 ‘\__ Poised to Generate Robust Growth Cec _in Free Cash Flow Focused on Successful Integration Planning and Synergy Capture to Deliver Value t
Slide 12: Fourth Quarter FY25 Financial Highlights
Fourth Quarter FY25 Financial Highlights $972mm $269mm 27.6% $156mm Net Sales Adjusted EBITDA Adjusted EBITDA Margin Adjusted Net Income (3%) (4%) (30bps) (10%) ‘Comparing vs. ‘Comparing vs. ‘Comparing vs. ‘Comparing vs. All-Time Quarterly Record Record Q4 Results Record Q4 Results ‘Strong Q4 Result
Slide 13: Fourth Quarter FY25 Adjusted EBITDA
Fourth Quarter FY25 Adjusted EBITDA 281mm 430%) Vounes Pato Ott srfaneAse uemeati rand ame) fem 234mm seta” EBTORGromm “Growth Syoneppnes Nosth america Segment EBITOA ) 156mm ‘ourva0 ‘ony ‘OLFY2t Lome Snes Uneing Ah a Prose pe (eurtondome) Prt Ctoae eBrTON 8h North America HOS Savings & Cl itch Acti
Slide 14: North America Fiber Cement Results
North America Fiber Cement Results La Q4 FY25 Net Sales (mm) $718.9 Sales Volume 741.2 mst ‘Average Net Sales Price $964 mst EBIT ($mm) $202.4 BIT Margin % 282% 8A (Smm) $452 EBITDA ($mm) $247.6 EBITDA Margin % msm Delivered On Our Full Year Commitments Des; @ samt ox ras tates ensennaton Q4 FY24 $7
Slide 15: Asia Pacific Fiber Cement Results
Asia Pacific Fiber Cement Results Q4 FY25 Q4 FY24 vs. PY? Key Drivers Net Sales ($mm) $118.4 $141.5 Net Sales (AS) © Australia & New Zealand net sales up slightly in focal curren + {S039 olan cain cid cso, cnn Sales Volume 96.4 mmst 139.7 mmsf aac — ‘+ Modest increase in ASP driven by recent price i
Slide 16: Europe Building Products Results
Europe Building Products Results Q4FY25 § Q4FY24 vs. PY Key Drivers Net Sales ($mm) $134.5 $128.2 +5% © Delivered record sales in 40 + Fer Gypsum Up +7%inlecalourency Net Sales (€) +8% ‘+ Fiber Cement Up +14% in local currency Sales Volume 207A mmst 1927 mst 1% @ High-Vatue Products (HVP) volume inc
Slide 17: FY26 Guidance Consistent With Planning Assumptions
FY26 Guidance Consistent With Planning Assumptions tanning Assumptions Provided February 2025 North America Not Sales ws P25 North America Expansion EBITDA Margin % vs YS Total ‘Adjusted EBITDA ws P25 Free Cash Flow FY26 uiance Up Low Single Digits % ~35.0% Up Low Single Digits % At Least $500mm_ (6
Slide 18: Capital Expenditures & Free Cash Flow
Capital Expenditures & Free Cash Flow +30% FREE CASH FLOW GROWTH IN FY26 FROM PROFITABLE GROWTH & CAPEX REDUCTIONS Solid Business Performance Driving Cash Generation Cash from Operations. 01400 25mm i: i rates Frames eva +39 ‘cash From Operations +3% Growth ve FY25 Well-Invested in Capacity to Servi
Slide 19: Creating a Leading Building Products Growth Platform
Creating a Leading Building Products Growth Platform ‘Tremendous Organic Growth in North America Fiber Cement Accelerated Growth & Cash Generation JamesHardie’ + EK with the ®@ we AZEK Combination Long-Term Shareholder Value Creation @ samt ox ras tamncs onseanaton
Slide 20: Q&A
Q&A Ty Aaron Erter Rachel Wilson CHIEF EXECUTIVE CHIEF FINANCIAL OFFICER OFFICER
Slide 21: Non-GAAP Financial Measures
Non-GAAP Financial Measures anings Release Financial Measures ~ GAAP Equivalents ‘Ts eu amon eons tee vsos Bees ral Sat ae ime (ss). EBIT~Eomings (oss) before interest and tx ~EBIT margins defined as EBT a8. percontage ot nat sles Definitions @ samt ox ras tamncs onseanaton
Slide 22: Non-GAAP Financial Measures
Non-GAAP Financial Measures tn es TOR
Slide 23: Non-GAAP Financial Measures
Non-GAAP Financial Measures ates ena upc sUnctes RAD cts peter Es. ade?
Slide 24: Cautionary Disclosure Regarding Forward-Looking Statements
Cautionary Disclosure Regarding Forward-Looking Statements Statements in this communication, including statements regarding the proposed acquisition of The AZEK Company Inc. (“AZEK”) by James Hardie Industries plc (“JHX”), that are not historical facts are “forward-looking statements” within the mea