#1INVESTOR PRESENTATION December 2020 JW JELD-WEN WINDOWS & DOORS#2DISCLOSURES Forward-Looking Statements This presentation contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements by our CEO and CFO and statements regarding our business strategies and ability to execute on our plans, market potential, future financial performance, customer demand, the potential of our categories, brands and innovations, the impact of our footprint rationalization and modernization program, our pipeline of productivity projects, the estimated impact of tax reform on our results, litigation outcomes, our outlook for future periods, and our expectations, beliefs, plans, objectives, prospects, assumptions, or other future events. Forward-looking statements are generally identified by our use of forward-looking terminology such as "anticipate", "believe", "continue", "could", "estimate", "expect", "intend", "may", "might", "plan", "potential", "predict", "seek", or "should", or the negative thereof or other variations thereon or comparable terminology. Where, in any forward-looking statement, we express an expectation or belief as to future results or events, such expectation or belief is based on the current plans, expectations, assumptions, estimates, and projections of our management. Although we believe that these statements are based on reasonable expectations, assumptions, estimates and projections, they are only predictions and involve known and unknown risks, many of which are beyond our control that could cause actual outcomes and results to be materially different from those indicated in such statements. Risks and uncertainties that could cause actual results to differ materially from such statements include risks associated with the impact of the COVID-19 pandemic on the company and our employees, customers and suppliers, and other factors, including the factors discussed in our Annual Reports on Form 10-K and our other filings filed with the Securities and Exchange Commission. The forward-looking statements included in this presentation are made as of the date hereof, and except as required by law, we undertake no obligation to update, amend or clarify any forward-looking statements to reflect events, new information or circumstances occurring after the date of this presentation. Non-GAAP Financial Measures This presentation presents certain "non-GAAP" financial measures. The components of these non-GAAP measures are computed by using amounts that are determined in accordance with accounting principles generally accepted in the United States of America ("GAAP"). A reconciliation of non-GAAP financial measures used in this presentation to their nearest comparable GAAP financial measures is included at the end of this presentation. The company provides certain guidance solely on a non-GAAP basis because the company cannot predict certain elements that are included in certain reported GAAP results, including the variables and individual adjustments necessary for a reconciliation to GAAP. While management is not able to specifically quantify the reconciliation items for forward-looking non-GAAP measures without unreasonable effort, the company expects these items to be similar to the types of charges and costs excluded from Adjusted EBITDA in prior periods. Management bases the estimated ranges of non-GAAP measures for future periods on its reasonable estimates of such factors as assumed effective tax rate, assumed interest expense, stock-based compensation expense, litigation expense, and other assumptions about capital requirements for future periods. The variability of these items may have a significant impact on our future GAAP financial results. We use Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income, and Adjusted EPS because we believe they assist investors and analysts in comparing our operating performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance. Management believes Adjusted EBITDA and Adjusted EBITDA margin are helpful in highlighting trends because they exclude the results of decisions that are outside the control of management, while other measures can differ significantly depending on long-term strategic decisions regarding capital structure, the tax jurisdictions in which we operate, and capital investments. We use Adjusted EBITDA and Adjusted EBITDA margin to measure our financial performance and also to report our results to our board of directors. Further, our executive incentive compensation is based in part on Adjusted EBITDA. In addition, we use Adjusted EBITDA for purposes of calculating compliance with our debt covenants in certain of our debt facilities. Adjusted EBITDA should not be considered as an alternative to net income as a measure of financial performance or to cash flows from operations as a liquidity measure. We define Adjusted EBITDA as net income (loss), adjusted for the following items: loss from discontinued operations, net of tax; equity of non-consolidated entities; income tax (benefit) expense; depreciation and amortization; interest expense, net; impairment and restructuring charges; gain on previously held shares of equity investment; (gain) loss on sale of property and equipment; share-based compensation expense; non-cash foreign exchange transaction/translation (income) loss; other non-cash items; and costs related to debt restructuring and debt refinancing. Adjusted EBITDA margin is defined as Adjusted EBITDA divided by net revenues. We present several financial metrics in "core" terms, which exclude the impact of foreign exchange and acquisitions completed in the last twelve months. We use core Adjusted EBITDA, which we define as Adjusted EBITDA excluding the impact of foreign exchange and acquisitions completed in the last twelve months. We define core revenue as revenue excluding the impact of foreign exchange and acquisitions completed in the last twelve months. Our use of core margin is defined as core Adjusted EBITDA divided by core revenue. These "core" metrics assist management, investors, and analysts in understanding the organic performance of the operations. We present free cash flow because we believe it assists investors and analysts in determining the quality of our earnings. We also use free cash flow to measure our financial performance and to report to our board of directors. In addition, our executive incentive compensation is based in part on free cash flow. We define free cash flow as cash flow from operations less capital expenditures (including purchases of intangible assets). Free cash flow should not be considered as an alternative to cash flows from operations as a liquidity measure. Adjusted net income represents net income adjusted for certain items as presented in our reconciliation of non-GAAP, including the after-tax impact of i) non-cash foreign currency (gains) losses, ii) impairment and restructuring charges, iii) one-time, non-cash gains, and iv) other non-recurring expenses associated with certain matters such as mergers and acquisitions, and litigation. Adjusted EPS represents net income per diluted share adjusted to exclude the estimated per share impact of the same specifically identified items used to calculate adjusted net income as described above. Where applicable such items are tax-effected at our estimated annual effective tax rate. Other companies may compute these measures differently. Non-GAAP metrics should not be considered as alternatives to any other measures derived in accordance with GAAP. Due to rounding, numbers presented throughout this presentation may not sum precisely to the totals provided and percentages may not precisely reflect the absolute figures. JW JELD WEN WINDOWS & DOORS#33. EXECUTING STRATEGY TO ACCELERATE OPERATING IMPROVEMENTS Build on solid progress Leverage best-in-class platform Accelerate operating improvements JW JELD-WEN#4st 4 PROFILE OF A GLOBAL LEADER #1 Global leader in windows & doors Operating in 20 countries $4.3B 2019 net revenues 14 Bolt-on acquisitions completed since 2015 +450bps Visibility to margin improvement from cost actions Cash from operations 2014-2019 $1.2B Adjusted EBITDA margin improvement 2013-2019 530bps N. America percent of sales in stable R&R segment ~50% JW JELD-WEN#5LO 5 ENTERING NEW PHASE TO ACCELERATE TRANSFORMATION 1960 2014-2018 Built global leader Initiated transformation Today Accelerate transformation 111 • Industry consolidator, having completed over 50 acquisitions Decentralized, family run until 2011 Significant margin improvement driven by price actions and cost reduction • New CEO & CFO in 2018 . • Laser focus on operating. improvements to drive core revenue growth and productivity JW JELD-WEN#6MOST DIVERSIFIED WINDOWS AND DOORS PURE PLAY Breakdown of Revenues ~$4.3B CO Ancillary Products Shower enclosures Moldings, trim board Closet systems Ancillary 13% Commercial Doors • Wood, Steel, MDF Fire rated Doors 67% Residential Windows Windows 20% • Wood • Vinyl • • Aluminum Mid-rise multi-family Residential Interior Doors • Molded and flush • Wood veneer and glass • Stile & rail doors • Value added services Residential Exterior Doors • Wood veneer, Fiberglass, and Steel Patio doors Folding and sliding wall systems • Value added services JW JELD-WEN#77 SIGNIFICANT PROGRESS SINCE LAUNCH OF TRANSFORMATION Net Revenue ($B) 4% CAGR $4.3 Adj. EBITDA ($M) 18% CAGR $3.5 2013 2014 2015 2016 2017 2018 2019 $153 $415 2013 2014 2015 2016 2017 2018 2019 JW JELD-WEN#8PROGRESS IN BUILDING POWERFUL CASH FLOW ENGINE 80 ($135) ($49) Free Cash Flow ($M) $122 $95 $203 $167 $101 2013 2014 2015 2016 2017 2018 2019 TARGET FREE CASH FLOW ≥ NET INCOME JW JELD-WEN#99 EXECUTING STRATEGY TO ACCELERATE OPERATING IMPROVEMENTS Build on solid progress Leverage best-in-class platform Accelerate operating improvements JW JELD-WEN#10LEVERAGE BEST-IN-CLASS PLATFORM 1. Global market leader 2. Broad portfolio of trusted brands 5. Proven M&A capabilities Excellent platform for margin expansion and cash flow generation 3. Unparalleled breadth 10 4. Differentiated capabilities provide competitive advantages JW JELD-WEN#1111 1. GLOBAL MARKET LEADER Leading Position in Most Markets #1 #1 #5 #1 Europe North America Market Position - Resi. Doors Market Position - Non-Resi. Doors Market Position - Resi. Windows #1 #1 Australasia Australasia 13% Revenue Adj. EBITDA Australasia Europe 28% O 16% North America 59% North America 58% Europe 26% *Market positions based on public information and management estimates *Revenue and Adj EBITDA segment breakdowns based on 2019 actuals JW JELD-WEN#1212 2. PORTFOLIO OF TRUSTED BRANDS JW JELD-WEN WINDOWS & DOORS SWEDOOR JW 21 KELLPAX+ STEGBAR DAS SCHWER ORIGINAL VON JLD-WEN Regency EXTIRA by JELD-WEN DANA Eine Marke von JELD-WEN CORINTHIAN DOORS LaCANTINA DOORS TREND WINDOWS KILSGAARD Vpi Quality Windows MIRATEC KARONA Treated Exterior Composite TRIM by JELD-WEN aneeta airlite zargag ה DOORIA® Wir verbinden Lebensräume. by JELD-WEN MMI DOOR Your Doorway to a Beautiful Home® MATTIOVI DOMOFERM KUNGSÄTER QUALITY DOORS 1908 SINCE & DOORS A&L ABS AMERICAN BUILDING SUPPLY, INC. WINDOWS | DOORS DOORMERICA Products JW JELD-WEN#133. UNPARALLELED BREADTH Ancillary 13% Doors 67% Windows 20% Non-Res. 11% Repair & Remodel Res. New Construction 47% 42% 13 • • • Products Broadest product range of doors and windows Doors Interior Molded, Stile and Rail, Exterior Steel, Exterior Fiberglass, Wall Systems Windows - Wood, Vinyl, Aluminum, Composite, Louvered, Sashless Markets (1) Balanced exposure globally between Residential New Construction and Repair & Remodel Strong position in non-residential, specialty doors for the European market Channels Direct 19% Distribution 50% • Long-term relationships with premier channel partners Retail 31% (1) Pct. of net revenues by construction application is management's estimate based on the end markets into which our customers sell. JW JELD-WEN#1414 4. DIFFERENTIATED CAPABILITIES PROVIDE COMPETITIVE ADVANTAGES Vertically integrated in capital intensive key. processes: - Interior molded door skins - Australia glass processing - Wood processing and components Low cost manufacturing assets provide leading cost position: - - - Indonesia Eastern Europe Global platform - Diversity of revenues - Broader opportunities for bolt-on M&A - Product innovation shared between regions Unmatched distribution footprint - Supports demanding lead times Value-added distribution capabilities Lowers freight costs JW JELD-WEN#1515 5. SUCCESSFUL M&A RECORD Disciplined Criteria Enhance product portfolio - Fill gaps in product lines Acquire new technologies Market consolidation - Improve market positions Solidify fragmented markets Enter new markets/geographies - - Complementary geographies Create value-added services Track Record of M&A Delivering Strategic and Financial Targets Acquisitions since company founding Acquisitions since 2014 IRR target > 50 14 20%+ Avg. ROIC realized > WACC Integration playbook Proven JW JELD-WEN#1616 EXECUTING STRATEGY TO ACCELERATE OPERATING IMPROVEMENTS Build on solid progress Leverage best-in-class platform Accelerate operating improvements JW JELD-WEN#17THE NEW JELD-WEN WE ARE BUILDING Past Future Organic Growth Below Market Accelerate Margin Improvement Pricing & SG&A Productivity & Footprint Innovation Moderate High Cost Productivity Low - 1% Net* High -3% Net* Values and Culture Lack of Integration Common Vision Acquisitions Strategic Bolt-ons Bolt-on + Adjacencies *Percent reduction of prior year cost of goods sold, net of inflation 17 JW JELD-WEN#1818 JELD-WEN'S STRATEGIC GROWTH DRIVERS 1 Accelerate Top Line Growth 2 Expand Margins 3 % Disciplined Capital Allocation 1 2 3 Invest for Growth Culture and Tools Shareholder Value JW JELD-WEN#1919 1. ACCELERATING TOP LINE GROWTH GLOBAL INNOVATION CAPABILITIES Expanding into New Market Segments • • . Repair and Remodel expansion, largest global opportunity Expand product solutions and channel partnerships Multi-family and commercial applications . • • Global Product Development & Technology Integrate global product development planning Regional design centers and forums Product design with end customer in mind Establishing Commercial Excellence • • Integrated commercial value stream end-to-end Investment in global CRM • Leverage bundling opportunities across all products JW JELD-WEN#202. EXPAND MARGINS 15% ADJ. EBITDA MARGIN TARGET 20 20 9.7% 2019 Adj EBITDA Margin Footprint Rationalization & Modernization Manufacturing Productivity Through JEM • $100M+ savings opportunity Target -15% reduction in global square footage . • $100M+ savings opportunity Represents a ~3% reduction in COGS Savings from: labor efficiency automation - sourcing - improved quality reduction in warranty and scrap - VA/VE savings freight optimization 15%+ Adj EBITDA Margin Target CLEAR PATH TO 15% ADJUSTED EBITDA MARGIN JW JELD-WEN#212. EXPAND MARGINS FOOTPRINT MODERNIZATION AND RATIONALIZATION ☐ OBJECTIVES Leverage acquired assets and JEM tools to reduce global facility footprint and increase efficiency ■ Reduce complexity ■ Increase capacity Improve service and customer satisfaction ■ Reduce costs ■ Improve profitability STATUS UPDATE Additional footprint rationalization and modernization projects have been approved; includes multi-site rooftop consolidation ■ Good visibility to delivering ~$100M run-rate annual savings RATIONALIZATION PLAN (square feet in millions) 3.2 3.2 1.0 2.2 Future Planned Actions 2020+ 1.1 2019 Actions in Progress Feb '19 Future Planned Actions 2020+ 1.4 Actions in Progress Projects Completed CONTINUED MOMENTUM IN FOOTPRINT RATIONALIZATION PLAN Oct '20 21 "Core revenue" and "core adjusted EBITDA" exclude the impact of FX and acquisitions completed in the last 12 months. "Core margin" is defined as core adjusted EBITDA divided by core revenue. JW JELD-WEN#222. EXPAND MARGINS JELD-WEN EXCELLENCE MODEL JEM JELD-WEN EXCELLENCE MODEL TOOLS • Problem solving (A3) • Standard work • Visual management • O Value streams • Goal deployment • GOALS Safety • Service and quality . • Cost savings • Productivity • Engagement 2018 RESULTS • Doubled JEM tool deployment locations ⚫90%+ facilities improved service • 58% increase in productivity project pipeline JW JELD-WEN 22 22#233. CAPITAL ALLOCATION PRIORITIES FOR FREE CASH FLOW DEPLOYMENT • • . 1 Accretive Acquisitions Disciplined approach Target IRR > 20% Maintaining active pipeline of acquisition targets 2 De-Lever Balance Sheet Current net debt to EBITDA -2.8x Targeting <2.5x in near-term 3 Share Repurchase $170M remaining on $175M authorization renewed on November 6, 2019 • No expiration 23 23#24IN SUMMARY: EXECUTING STRATEGY TO ACCELERATE OPERATING IMPROVEMENTS Build on solid progress best-in-class platform Leverage Accelerate operating improvements 24 24 JW JELD-WEN#25NON-GAAP RECONCILIATION ADJUSTED EBITDA AND FREE CASH FLOW (USD IN MILLIONS) Year Ended December 31, 2013 2014 2015 2016 2017 2018 2019 $ (68.4) $ (84.1) 90.9 $ 376.1 $ 8.1 141.9 $ 63.0 Net Income (loss) Adjustments: Loss (income) from discontinued operations, net of tax Gain (loss) on sale of discontinued operations, net of tax Equity (earnings) loss of non-consolidated entities Income tax expense (benefit) Depreciation and amortization Interest expense, net 5.9 5.4 2.9 3.3 (10.7) (0.9) 0.4 (2.4) (3.8) (3.6) (0.7) 1.1 18.9 (5.4) (246.8) 137.8 (10.1) 57.1 104.7 100.0 95.2 108.0 111.3 125.1 134.0 71.4 69.3 60.6 77.6 79.0 70.8 71.8 Impairment and restructuring charges 44.4 38.6 31.0 18.4 13.1 17.3 22.7 Gain on previously held shares of equity investment (20.8) - Loss (gain) on sale of property and equipment (3.0) (0.0) (0.4) (3.3) (0.3) 0.1 2.0 Share-based compensation expense 5.7 8.0 15.6 22.5 19.8 15.1 13.3 Non-cash foreign exchange transaction/translation (income) loss Other non-cash items (4.1) (0.5) 2.7 5.7 (1.2) (1.3) 3.4 (0.1) 2.3 1.1 2.8 0.5 3.9 0.3 Other items (1) 7.3 20.3 18.9 30.6 47.0 117.5 47.5 (1) Costs relating to debt restructuring and debt financing Adjusted EBITDA 0.1 51.2 0.2 1.1 23.7 0.3 $ 153.2 $ 229.8 $ 311.0 $ 392.2 $ 435.2 $ 459.2 $ 415.0 (1) Prior periods 2016 to 2018 revised on 08/07/19. For additional information, please refer to our Form 10-Q for the quarter period ended June 29, 2019 Net cash used in operating activities Less Capital Expenditures (1) Free Cash Flow 2013 2014 Year Ended December 31, 2015 2016 2017 2018 2019 ($49.4) $21.8 $172.3 $201.6 $265.8 $219.7 ($85.7) ($70.8) ($77.7) ($79.5) ($63.0) ($118.7) $302.7 ($136.2) ($135.1) ($49.1) $94.7 $122.1 $202.7 $101.0 $166.5 (1) Capital Expenditures defined as purchases of property, equipment and intangible assets 25 JW JELD-WEN