QXO and TopBuild Announce Stockholder Election Results for Merger Consideration

About this update from Qxo, Inc.

GREENWICH, Conn. & DAYTONA BEACH, Fla., June 30, 2026--(BUSINESS WIRE)--QXO, Inc. (NYSE: QXO) ("QXO") and TopBuild Corp. (NYSE: BLD) ("TopBuild") today announced the results of TopBuild stockholders' elections regarding the form of merger consideration (the "Merger Consideration") to be received in connection with QXO's acquisition of TopBuild (the "Transaction"). As previously disclosed, the deadline for making an election was 5:00 p.m. Eastern Time on June 29, 2026 (the "Election Deadline"). The parties expect the Transaction to close on or about July 1, 2026, subject to the satisfaction or waiver of customary closing conditions. Before the Election Deadline, and as described in the election materials and in the parties' joint proxy statement/prospectus dated May 29, 2026, each eligible TopBuild stockholder could elect to receive, for each share of TopBuild common stock held before the closing of the Transaction, either (i) $505.00 in cash (the "Cash Consideration") or (ii) 20.200 shares of QXO common stock (the "Stock Consideration"), in each case subject to the election and proration procedures set forth in the merger agreement and the joint proxy statement/prospectus. TopBuild stockholders who did not make a valid election by the Election Deadline are deemed to have elected to receive the Stock Consideration. TopBuild stockholders who otherwise would have received a fractional share of QXO common stock will receive cash in lieu of that fractional share. Based on available information as of the Election Deadline, the results of the Merger Consideration election are as follows:

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