Owens Corning and Masonite International Corporation announced that Owens Corning has commenced an offer to exchange any and all outstanding 3.50% Senior Notes due 2030 issued by Masonite for new notes to be issued by Owens Corning, in connection with Owens Corning?s anticipated acquisition of Masonite. In conjunction with the Exchange Offer, Masonite is soliciting consents (the Consent Solicitation) to adopt certain proposed amendments to the indenture governing the Existing Masonite Notes (the Existing Masonite Indenture) to eliminate certain of the covenants, restrictive provisions and events of default from such indenture (collectively, the Proposed Amendments). Title of Series: 3.50% Senior Notes due 2030, Aggregate Principal Amount Outstanding is $375,000,000, maturity date on Feb.

15, 2030, total consideration is $1,000 principal amount of New Owens Corning 3.50% Senior Notes due 2030 and $2.50 in cash. Owens Corning and Masonite are making the Exchange Offer and Consent Solicitation pursuant to the terms of and subject to the conditions in the offering memorandum and consent solicitation statement dated May 1, 2024. Any Eligible Holder that validly delivers at or prior to 5:00 p.m., New York City time, on May 14, 2024, unless extended or terminated (such date and time, as the same may be extended, the ?Early Participation Deadline?), and does not validly revoke at or prior to the Withdrawal Deadline (as defined below), its consent in the Consent Solicitation in respect of such Eligible Holder?s Existing Masonite Notes will be eligible to receive payment in cash of $2.50 per $1,000 principal amount of such Existing Masonite Notes accepted for exchange (the ?Consent Payment?).

For each $1,000 principal amount of Existing Masonite Notes validly tendered at or before the Early Participation Deadline and not validly withdrawn, Eligible Holders of such Existing Masonite Notes accepted for exchange will be eligible to receive the total consideration set out in the table above (the ?Total Consideration?), which includes the Consent Payment and an early tender premium, payable in New Owens Corning Notes, equal to $30.00 (the ?Early Tender Premium?). For each $1,000 principal amount of Existing Masonite Notes validly tendered after the Early Participation Deadline and at or before 5:00 p.m., New York City time, on May 30, 2024, unless extended or terminated (such date and time, as the same may be extended, the ?Expiration Time?), and not validly withdrawn, Eligible Holders of such Existing Masonite Notes accepted for exchange will be eligible to receive the exchange consideration set out in the table above (the ?Exchange Consideration?), but not the Total Consideration, because such Eligible Holders will not be eligible to receive the Consent Payment and the Early Tender Premium. The New Owens Corning Notes will accrue interest from (and including) February 15, 2024, the most recent interest payment date on which interest has been paid by Masonite on the Existing Masonite Notes accepted in the Exchange Offer and Consent Solicitation; provided that interest will only accrue with respect to the aggregate principal amount of New Owens Corning Notes an Eligible Holder receives, which will be less than the principal amount of Existing Masonite Notes tendered for exchange if such Eligible Holder tenders its Existing Masonite Notes (and does not subsequently validly withdraw such Existing Masonite Notes) after the Early Participation Deadline, which means such Eligible Holder will receive a lower aggregate interest payment on such Eligible Holder?s New Owens Corning Notes than the aggregate amount of interest such Eligible Holder would have received on such Eligible Holder?s Existing Masonite Notes had such Eligible Holder not tendered them for exchange in the Exchange Offer.