Owens Corning Announces Early Settlement Date for Exchange Offer and Consent Solicitation

Owens Corning (NYSE: OC) today announced that, in connection with the previously announced exchange offer (the “Exchange Offer”) by Owens Corning and consent solicitation (the “Consent Solicitation”) by Masonite International Corporation (“Masonite”), it has elected to have an Early Settlement Date of May 22, 2024 (the “Early Settlement Date”).

Owens Corning and Masonite are making the Exchange Offer and Consent Solicitation pursuant to the terms of and subject to the conditions set forth in the offering memorandum and consent solicitation statement dated May 1, 2024 (as amended, the “Statement”).

On the Early Participation Deadline (as defined below), Masonite and Computershare Trust Company, N.A. entered into the supplemental indenture that gave effect to the Proposed Amendments (as defined in the Statement) to the 3.50% Senior Notes due 2030 issued by Masonite (the “Existing Masonite Notes”). On the Early Settlement Date, Owens Corning will accept for exchange all of the Existing Masonite Notes that were validly tendered and not validly withdrawn at or prior to 5:00 p.m., New York City time, on May 14, 2024 (the “Early Participation Deadline”) and the Proposed Amendments will become operative.

Notwithstanding the Early Settlement Date, Eligible Holders (as defined below) who did not tender at or prior to the Early Participation Deadline may still tender Existing Masonite Notes in the Exchange Offer until 5:00 p.m., New York City time, on May 30, 2024, unless such date is extended or the Exchange Offer and Consent Solicitation are earlier terminated (such date and time, as the same may be extended, the “Expiration Time”).

Owens Corning has engaged Morgan Stanley & Co. LLC as Lead Dealer Manager and Solicitation Agent and Wells Fargo Securities, LLC as Co-Dealer Manager and Solicitation Agent for the Exchange Offer. Copies of the Statement may be obtained from Global Bondholder Services Corporation, the Exchange Agent and Information Agent, by phone at [phone] (toll-free) or [phone] (collect for banks and brokers) or by email at [e-mail]. Please direct questions regarding the Exchange Offer to Morgan Stanley & Co. LLC at [phone] (toll-free) or [phone] (collect for banks and brokers).