Item 2.05. Costs Associated with Exit or Disposal Activities.

On January 26, 2023, JELD-WEN Holding, Inc. (the "Company") announced to employees a restructuring plan to close a manufacturing facility in Atlanta, Georgia in a continuing effort to optimize the Company's footprint and drive operational efficiencies (the "Plan").

The Company expects to incur pre-tax restructuring expenses, other closure costs and capital spending, including building restoration, equipment relocation and employee-related costs, of approximately $19 million, substantially all of which are expected to be incurred by the end of the third quarter of 2023. Approximately $15 million of the expected expense and investment related to the Plan will be cash items, including approximately $3 million of capital expenditures. The Company expects to realize annual estimated cost savings of approximately $11 million. The Plan is expected to be substantially completed by the end of the third quarter of 2023.

The estimates of the charges and expenditures that the Company expects to incur in connection with the Plan, and the timing thereof, are subject to a number of assumptions and actual amounts may differ materially from estimates.

In addition, the Company may incur other charges or cash expenditures not currently contemplated due to unanticipated events that may occur, including in connection with the implementation of the Plan.

Forward-Looking Statements

This Current Report on Form 8-K contains forward-looking statements, including, but not limited to, statements related to the expected savings and other benefits of the Plan, the timing of completion of the Plan, and the expected costs, cash expenditures and charges of the Plan within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon the Company's current plans, assumptions, beliefs, and expectations. Forward-looking statements are subject to the occurrence of many events outside of the Company's control. Actual results and the timing of events may differ materially from those contemplated by such forward-looking statements due to numerous factors that involve substantial known and unknown risks and uncertainties. Risks and uncertainties that could cause actual results to differ materially include, but are not limited to, the information under the "Risk Factors" section of the Company's Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the "SEC") on February 22, 2022 and Quarterly Reports on Form 10-Q filed with the SEC in 2022.

Forward-looking statements should be considered in light of these risks and uncertainties. Investors and others are cautioned not to place undue reliance on forward-looking statements. All forward-looking statements contained herein speak only as of the date hereof. The Company assumes no obligation and does not intend to update these forward-looking statements, except as required by law.

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