4 th Quarter and Full Year 2025 Earnings Presentation February 24, 2026 Safe Harbor Statement Disclosures in this presentation contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, those relating to future financial and operational results, market and broader economic conditions and guidance. Those statements provide our future expectations or forecasts and can be identified by our use of words such as "anticipate," "esti ...

Q2 2025 Financial Performance - Net sales increased by 16% to $424.6 million compared to $365.1 million in Q2 2024[9] - Adjusted EBITDA rose by 23% to $154 million from $125 million in Q2 2024[9, 14] - Adjusted diluted EPS increased by 29% to $2.09 compared to $1.62 in Q2 2024[9, 15] - Adjusted free cash flow increased by 42% to $88 million from $62 million in Q2 2024[9, 15] - The company's adjusted EBITDA margin expanded by 200bps to 36.3%[11, 25] Segment Performance - Mineral Fiber segment adjusted EBITDA increased by 16%[11] - Mineral Fiber segment adjusted EBITDA margin expanded by 350bps to 45.2%[11, 18] - Architectural Specialties segment adjusted EBITDA increased by 61%[11] - Architectural Specialties segment adjusted EBITDA margin expanded by 310bps to 21.5%, with organic adjusted EBITDA margin of 22.1%[11] - Architectural Specialties net sales growth VPY +37%[22] Full Year 2025 Guidance - The company is raising its full-year 2025 guidance and expects double-digit growth in all key metrics[12] - Net sales are projected to be between $1.6 billion and $1.63 billion, representing an 11% to 13% year-over-year increase[35] - Adjusted EBITDA is expected to be between $545 million and $560 million, a 12% to 15% year-over-year increase[35]

Financial Performance - Q1 2025 - Net sales increased by 17% year-over-year to $382.7 million[9] - Adjusted EBITDA rose by 16% year-over-year to $129 million[9] - Adjusted diluted earnings per share (EPS) increased by 20% year-over-year to $1.66[9] - Adjusted free cash flow increased by 10% year-over-year to $48 million[9] Segment Performance - Q1 2025 - Mineral Fiber (MF) segment adjusted EBITDA increased by 7%[11] - Architectural Specialties (AS) segment adjusted EBITDA increased significantly by 94%[11] - AS organic sales grew by 11%[25] Margin Analysis - Q1 2025 - Total company adjusted EBITDA margin was 33.6%[9] - AWI Organic Adjusted EBITDA margin expanded by 170bps[11] - Mineral Fiber adjusted EBITDA margin expanded by 180bps to 43.0%[11, 20] - Architectural Specialties organic adjusted EBITDA margin expanded by 290bps to 16.9%[11] Full Year 2025 Guidance - The company reaffirmed its full-year 2025 guidance, expecting net sales to grow by 9% to 11%, reaching $1.57 billion to $1.61 billion[12, 33] - Adjusted EBITDA is expected to grow by 8% to 12%, reaching $525 million to $545 million[12, 33] - Adjusted diluted EPS is expected to grow by 9% to 13%, reaching $6.85 to $7.15[12, 33]