Financial Data and Key Metrics Changes - For Q1 2021, net sales increased by $46.2 million or 28% to $212.3 million, primarily driven by the Residential segment [27] - Adjusted EBITDA grew by $14.6 million or 43% to $48.5 million, with adjusted EBITDA margin expanding 240 basis points to 22.8% [30][28] - Net income increased by $20 million to $10.2 million compared to a net loss of $9.8 million in the prior year [30] Business Line Data and Key Metrics Changes - Residential business grew 37% year-over-year, with Deck, Rail & Accessories growing over 40% and Exteriors growing over 20% [16][27] - Commercial segment net sales decreased by 12% year-over-year to $26.6 million, primarily due to the impact of COVID-19 on certain end markets [31][19] Market Data and Key Metrics Changes - Strong demand in the Residential segment was driven by repair and remodel as well as new construction, with significant growth in both pro and retail channels [17] - The Commercial segment continues to face challenges, particularly in trade shows and retail, but is expected to stabilize in the latter half of fiscal 2021 [20] Company Strategy and Development Direction - The company aims to utilize 1 billion pounds of recycled scrap and waste annually by the end of 2026, building on the 400 million pounds diverted in fiscal 2020 [10] - Investments are being made in brand, manufacturing, R&D, and customer connection to drive above-market growth and margin expansion [11] - A strategic capacity expansion plan is in place to increase decking production capacity by approximately 70% relative to the end of fiscal 2019 [22] Management's Comments on Operating Environment and Future Outlook - Management remains confident about the future, citing strong end-market demand and operational execution [9] - The company raised its net sales and adjusted EBITDA growth guidance for fiscal year 2021, driven by positive internal and external indicators [24][25] - The outlook reflects continued solid demand within the Residential segment, with expectations for net sales growth of 14% to 18% year-over-year [35] Other Important Information - The company is experiencing inflationary pressures in raw material pricing and has implemented price increases to offset these costs [23][29] - The company has a strong balance sheet with cash and cash equivalents of $210 million and a net leverage ratio of 1.1x [33] Q&A Session Summary Question: Is there any pull-forward of demand due to price increases? - Management indicated that the timing of orders was planned to avoid any material pull-forward effect on results [39] Question: How should capacity additions be viewed moving forward? - Management expressed satisfaction with the early success of capacity additions and indicated that guidance is based on realistic production capabilities [42] Question: What is the outlook for sell-through demand throughout the year? - Management noted strong underlying demand and the need to position inventory effectively for the selling season [45] Question: How does resin price inflation impact the P&L? - Management confirmed that pricing actions have been taken to cover expected costs, with a lag in the flow-through of costs to the P&L [50] Question: What is the company's strategy for increasing recycled material usage? - The company aims to expand the use of recycled materials in its products and is investing in sourcing capabilities [66] Question: How is SG&A expected to evolve throughout the year? - Management anticipates a return to more normalized SG&A levels, with selective investments to build demand capabilities [70]

Table of Contents Securities registered pursuant to Section 12(b) of the Act: UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-39322 The AZEK Company Inc. (Exact name of Registrant as specifie ...

Financial Data and Key Metrics Changes - For Q4 2020, net sales increased by $48.4 million, or 22%, to $263.9 million, with full fiscal year 2020 net sales increasing by $105.1 million, or 13%, to $899.3 million [27] - Adjusted EBITDA for Q4 2020 grew by $13.6 million, or 26%, to $66.1 million, with adjusted EBITDA margin expanding 60 basis points to 25% [31] - The company recorded a net loss of $64.4 million for Q4 2020, compared to a net loss of $0.9 million a year ago, and a full fiscal year net loss of $122.2 million compared to a net loss of $20.2 million in fiscal 2019 [30] Business Line Data and Key Metrics Changes - Residential segment net sales for Q4 2020 increased by $53.6 million, or 30%, to $232.7 million, driven by deck rail and accessories growth of 35% and exteriors growth of 18% [32] - Commercial segment net sales for Q4 2020 decreased by $5.3 million, or 14%, to $31.3 million, with a full fiscal year decrease of $10.7 million, or 8%, to $128.1 million [34] Market Data and Key Metrics Changes - The residential business experienced strong demand, with repair and remodel and new construction benefiting from favorable tailwinds [17] - The commercial business continues to face challenges, particularly in trade shows and retail, with expectations of continued weakness into the first quarter of 2021 [19] Company Strategy and Development Direction - The company aims for long-term revenue growth of 8% to 10% and EBITDA growth of 10% to 14%, with a focus on sustainability and innovation [8] - A $180 million capacity expansion program is underway to support strong demand and future market needs, with the first phase completed in Q4 2020 [15][23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term market opportunity driven by secular trends and material conversion from wood to composite materials [25] - The outlook for Q1 2021 includes expected net sales growth in the low 20% range year-over-year, with continued strength in the residential segment [36] Other Important Information - The company has made significant progress in recycling initiatives, increasing the use of recycled materials from 44% in 2019 to 54% in 2020 [12] - The company plans to release its inaugural ESG report early in the new calendar year, highlighting its commitment to sustainability and corporate governance [14] Q&A Session Summary Question: Revenue guidance for 2021 and potential deceleration - Management noted strong demand profiles and backlog, indicating that the guidance reflects positive factors while being conservative [40][41] Question: Pricing strategy and future increases - Management indicated that pricing actions have been taken in response to inflationary costs and that they expect to continue to offset these costs with pricing [42][43] Question: Incremental capacity and revenue guidance - Management confirmed that the expected capacity increase is factored into the revenue guidance, with potential for upside as capacity ramps up [44][45] Question: Inventory levels and seasonality - Management acknowledged typical seasonality but noted that current low inventory levels may lead to variability in demand and stocking patterns [47][48] Question: Competitive dynamics and new entrants - Management stated that while there are new entrants, the company maintains a strong market position and continues to see growth relative to competitors [60][62] Question: Recycling initiatives and future plans - Management highlighted ongoing efforts to increase the use of recycled materials and the potential for further expansion in the coming years [56][59] Question: M&A strategy and leverage - Management expressed a preference for organic growth but remains open to selective M&A opportunities that align with their core business model [76][79]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Title of each classTrading SymbolName of each exchange on which registered Class A Common Stock, par value $0.001 per share AZEK The New York Stock Exchange Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☒ Smaller reporting company ☐ FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION ...

The AZEK Company Inc. (NYSE:AZEK) Q3 2020 Earnings Conference Call August 13, 2020 10:00 AM ET Company Participants Jesse Singh - CEO Ralph Nicoletti - CFO Conference Call Participants Matthew Blair - Barclays John Lovallo - Bank of America Susan Maklari - Goldman Sachs Philip Ng - Jefferies Mike Dahl - RBC Capital Markets Ryan Merkel - William Blair Seldon Clarke - Deutsche Bank Keith Hughes - SunTrust Adam Baumgarten - Credit Suisse Alex Rygiel - B. Riley Trey Grooms - Stephens Inc. Kurt Yinger - D.A. Dav ...