#1Trex Engineering What's Next in Outdoor LivingⓇ NYSE: TREX INVESTOR PRESENTATION August 2022#2SAFE HARBOR / NON-GAAP MEASURES This presentation contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are subject to risks and uncertainties that could cause the Company's actual operating results to differ materially from those contemplated by the forward-looking statements. For further information on risk factors affecting the Company's business, please refer to our most recent annual and quarterly reports filed with the U.S. Securities and Exchange Commission. The Company expressly disclaims any obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. This presentation refers to certain financial measures not prepared in accordance with U.S. generally accepted accounting principles (GAAP), including adjusted net sales, adjusted gross margin, adjusted earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted operating income, adjusted diluted earnings per share (EPS), free cash flow, and net debt. We believe that the use of non-GAAP measures helps investors to gain a better understanding of our core operating results and future prospects, consistent with how management measures and forecasts the Company's performance, especially when comparing such results to previous periods or forecasts. The non-GAAP measures included in this presentation are not meant to be considered superior to or a substitute for our GAAP results. Reconciliations of the non-GAAP measures to the most directly comparable GAAP measures are available in the appendix to this presentation. Trex 2#3Trex MORE THAN 30 YEARS OF LEADERSHIP IN OUTDOOR LIVING Engineering what's next in Outdoor Living > Full suite of Outdoor Living products Ⓡ > Strongest industry recognition and awards from home builders, consumers and contractors ➤ Sustainable product innovation is in our DNA Driving conversion from wood > New products for incremental consumers and fueling the DIY spirit > Trex.com and Decks.com command nearly 57% of category web traffic Leading distributor and dealer network > Strongest distribution channel in the industry > Over 6,700 stocking locations Strong environmental credentials #1 > Decking comprised primarily of a blend of 95% reclaimed wood fibers and recycled polyethylene film Consumer Awareness Consumer Search Website Traffic Social Media Sales Market Share > One of largest polyethylene film recyclers in North America, upcycling waste material into higher-value products#4TREX ANNOUNCES NEXT GENERATION OF TRANSCEND DECKING > Expands on the pedigree of Trex's premium Transcend decking line with refined aesthetics, trend-forward colors and enhanced performance features: - Elevated aesthetic with subtle, elegant graining that delivers an unmatched natural appearance - Engineered to keep your deck cooler, even on the hottest days. Trex > Launched nationally through Trex dealers and major home improvement retailers in June Trex Transcend® LINEAGE™ Trex Transcend® LINEAGE™ THE NEXT GENERATION OF DESIGN AND PERFORMANCE#5TREX COMPANY STRATEGIC GROWTH DRIVERS Disciplined investment strategies driving consistent profitable growth Trex Leveraging the Trex Brand > Consumer engagement > Channel support > Licensing > Wood conversion Expanding Reach > Unparalleled distribution network > Contractor > DIY > International > Trex Commercial Products Optimizing Operations > Unique recycling business model > Vertical integration > Cost reduction > Automation, Modernization, Energy utilization, Raw material processing > Consistent improvement in manufacturing throughput Capital Allocation > Reinvesting in the business > Capacity expansion > Share repurchases > M&A opportunities 5#6TREX COMPANY GROWTH INITIATIVES Cladding > Alternative use of decking boards > $100M+ market opportunity > Offers a cost-effective solution primarily for commercial applications Trex Wood Conversion > Decking & railing market $8B > Composite share for 2021 was ~25%, up over 300 bps vs 2020 > 1% of wood share worth $80M R International > To date, Trex products have been sold in over 40 countries outside of U.S. > Sales staff in Europe and Australia Trex Cladding Significant vectors to drive growth over the long term 6#7Trex Trex ARKANSAS 3RD PRODUCTION SITE ANNOUNCED Trex is excited to be part of the Little Rock, AR community Best fit for Trex long term growth -Proximity to raw materials -Strong labor market -Near key growth regions for wood conversion -Adjacency to major transportation hubs 300 acres at the Port of Little Rock to house -Decking and railing production -Plastic film recycling and processing -Reclaimed wood storage -Warehousing and administrative offices. > Construction began mid 2022 - – Modular approach to incremental capacity Portof abc Little Rock CITY OF LITTLE ROCK Entergy LOVE LITTLE ROCK ASKI TY sk 7#8COST REDUCTION AND CONTINUOUS IMPROVEMENT INITIATIVES Automation > Invest in technology to automate repeatable tasks, thus reducing our reliance on manpower in a constrained labor environment and improving job satisfaction, efficiency, quality and throughput Modernization > Upgrade existing lines and older equipment with newer and proven technology to improve utilization, increase throughput and efficiency Energy Utilization > Through technology and machine upgrades, improve our energy utilization leveraging our ESG heritage Material Processing > Drive continuous improvement to increase material yield and widen the use of low-cost raw material supply Trex 8#9RESIDENTIAL MARKET OPPORTUNITY Growing desire for unique outdoor living spaces Alternative materials to wood decking are projected to experience above average annual gains in demand (1) Core market size: $8 billion (1) and growing Cumulative Trex Residential Net Sales (2) and Remodeling Activity (3) Growth 140% Outdoor living remains a leading home improvement market segment Increasing conversion from wood to composites Residential cumulative sales growth 120% Exterior property improvements capture 38% of home improvement spending and is the fastest growing segment 100% 80% 1% ~$80M 60% market share gain from wood = annual composite 40% sales Significantly outpaced gains in remodeling activity (1) Market date includes decking and railing volume, per Principia report on wood and competitive decking Residential adjusted sales 23 (2) (3) Joint Center for Housing Studies (US Residential) 20% 0% 2016 2017 2018 Trex Residential Net Sales Trex Trex Residential CAGR +20% Remodeling CAGR +5% 2019 2020 Remodeling Activity 2021 9#10WOOD IS OUR #1 COMPETITOR Composite 25% 2021 Market Share 2021 market share data based on company estimate. Wood 75% +1% Market Share Increase = ~$80M Annual Composite Sales Trex Trex Outperforms Wood Our high-performance, low-maintenance composite deck boards are engineered to resist fading, scratches and stains, and eliminate time- consuming maintenance so you'll never step foot in the stain aisle again. SEE THE TREX ADVANTAGE Unlike wood, Trex composite decking won't: ROT, WARP OR SPLINTER NEED SEASONAL PAINTING, SEALING OR STAINING FADE OR STAIN BECOME FOOD FOR TERMITES 10#112022 DECKING PRODUCT PLATFORM Trex Enhance BASICS Priced to take share from treated lumber Low-cost tier We've engineered cost out of the equation Trex Trex Enhance NATURALS TrexSelect EARTH TONES Trex Transcend LINEAGE TM, EARTH TONES & TROPICALS The beauty of wood with the ease of composite The perfect pairing of price and minimal maintenance Elevated aesthetics paired with the highest level of performance Middle tier Wood trade-up opportunity Premium tier Discriminating homeowners and contractors Ⓡ 11#12TREX: A SUPERIOR VALUE Trex Decking vs. Wood 1 Cost per Linear Foot ~$1 ~$1-2 ~$2-3 ~$3-4 ~$5.50- 6.50 Premium to Wood Trex Attractive Lifetime Economics 2 Trex High-Performance Decking Value Proposition ~2x ~3X ~4x ~5.5x $4,688 $4,068 $2,712 $2,034 $1,356 $678 Wood Trex EnhanceⓇ Basics Trex EnhanceⓇ Naturals Trex SelectⓇ Trex TranscendⓇ Wood Trex EnhanceⓇ Basics Trex EnhanceⓇ Naturals Trex SelectⓇ Trex TranscendⓇ Payback ~3 Years 1- Estimated Decking Cost for a 16' x 20' (or 30 m²) deck. Installation costs for 16' x 20' deck estimated at $10,200. Based on Company findings. 2 - Estimated Decking Costs and Maintenance Material Costs for a 16' x 20' (or 30 m²) deck over 25 years. 2 12#13INDUSTRY LEADING REACH > Over 6,700 stocking locations > Strongest distribution channel in industry > Well-positioned to take on wood nationally Distribution Partner Locations HINGTON MONTANA NORTH DAKOTA MINNESOTA Ottawa Montreal SOUTH DAKOTA WISCONN MAINE OREGON DAHO WYOMING MIC GAN onto Micago VT YORK IOW NEBRASKA ILLINOIS NEVADA UTAH San sco OLORADO nited States KANSAS INDANA ssou BEND ladelphia ENJ LA CALIFORNIA OLas Vegas OKLA KENTUCKY VIRGINIA ATEN SEE CAR NA Los Angeles ARKANSA ARIZONA San Dieg NEW MEXICO Daas MISSISSIPPI SOUTH CAROLINA ALABAMA TEXAS GEORG of of Californi LOUISIANA Hon TDA Gulf of Mavice HD & Lowe's Distribution Centers HD & Lowe's Retail Locations Trex Trex Traditional Distribution Locations Pro Lumber Yards Contractors TrexPros Builders Homeowners 13#14FULL SUITE OF OUTDOOR LIVING PRODUCTS TrexSignature ALUMINUM RAILING Trex Transcend TrexSelect DECKING & RAILING SYSTEM DECKING & RAILING SYSTEM S Trex Enhance Trex Fascia Trex RainEscape Trex Cladding™ Trex Deck Lighting DECKS DRAINAGE SYSTEM Trex Outdoor Kitchens Trex Outdoor Furniture Trex Pergola Trex Protect Trex Lattice Works Trex Blade™ APPROVED COMPOSITE DECKING BLADE Trex Cornhole" Trex Spiral Stairs™ Trex Glass Trex Fencing Trex 14#15"WE SEE IT TOO" CAMPAIGN Trex Trex We see it too. > New 2022 marketing campaign is the largest in Trex history, positioning the Trex deck as the foundation of a lifetime of memories just outside the back door > A Lifetime of Memories | Trex Composite Decking (60 Seconds) - YouTube > The strength of the Trex brand with the consumer is the foundation for our market share leadership > Trex brand awareness, leadership and commitment are at peak levels, driving the highest search interest in the composite decking category - Resulting in more web traffic, more leads, and more exposure for Trex dealers and contractors Stocked in both national home improvement retailers - > Expanding brand internationally 15#16THE SUN NEVER SETS ON A TREX DECK > Targeted approach to new international markets > Establish distributors in key markets Roll-outs in markets with higher GDP, personal income and desire for outdoor living solutions > Apply Trex marketing capabilities to key target market opportunities - TV advertising, online ads, and paid search - Develop TrexPro network > New products offer competitive value proposition against other composites and wood > Building global brand recognition Troo re Trex Trex Trex Trez Treor Track Tre Tro Trex Trex Trou 16#17TREX COMMERCIAL PRODUCTS > Enhances Trex presence in the Commercial Railing Market - Core market size $1 billion > A Market Leader in Stadium Railing - Dominant share of the market for railings used in newly built professional stadiums in North America Soccer Stadium presence - AscentⓇ product awarded Best New Product by Glass Magazine > Leverages relationships with developers, architects and contractors to grow market in less complex environments - Provides access to the specifier, architect and construction contract markets Architectural Railing Systems Aluminum Railing Systems AVAVA Custom Railing Options Custom Staging Major Projects > Offers Trex synergy and growth opportunities - Three railing lines to date have been engineered by Commercial Products and commercialized by Residential Products Railing line co-developed - manufactured by Residential Products and marketed by Commercial Products COWBOYS STADIUM Dickies Arena usbank stadium R LEVI'S STADIUM Trex MADISON SQUARE GARDEN. THE WORLD'S MOST FAMOUS ARENA CHASE CENTER SUNTRUSTPARK Little Caesars arena 17#18Trex CAPITAL ALLOCATION STRATEGY Putting Free Cash Flow to work through Investment in Core Business and Share Repurchases Invest in Core >$516M capital expenditures since 2016 > New capacity from $200M capacity expansion to help meet higher demand levels > 3rd site announced with modular construction approach - Estimated $400M in plant expenditures through 2025 Repurchase Shares > $595M in share repurchases over the past 10 years. > $74M in FY 2021 repurchases > $245M in YTD 2022 repurchases > 4.3M remaining share repurchases authorized 18#192022 GUIDANCE > Revenue: - Q3 Guidance: $185-195M - Q4 Guidance: $180-190M - - Second Half: $365-385M > Full Year EBITDA margin: 27-29% > CapEx: $170-180M > SG&A % of sales: 12-13% > Depreciation and amortization: $40-45M > Tax rate: 25% Trex 19#20ATTRACTIVE LONG-TERM RESULTS Consolidated Adjusted Sales ($Ms) 19% CAGR $881 $745 $690 $565 $1,365 $1,197 2017 2018 2019 2020 2021 * * 2018 results exclude $6M non-recurring Sales charge 2022 TTM Consolidated Adjusted EBITDA ($Ms) ** 2019 results include $16M of startup and other costs related to new Enhance product launch *** 2020 results exclude $6.5M legacy non-cash surface flaking charge **** 2021 results exclude $54M goodwill impairment and $8.7M gain on insurance proceeds $395 20% CAGR $357 $258 $199 $202 $159 Consolidated Adjusted EBITDA Margin +80 BPS Trex 29.8% 29.3% 28.8% 28.9% 28.2% 27.1% 2017 2018 2019 2020 2021 2022 2017 2018 2019 * ** *** **** TTM * ** *** 2020 2021 2022 **** TTM 20 20#21LEADERSHIP & RECOGNITION Trex h 2022 Best of Houzz Design Trex was again recognized in 2022 with a Best of Houzz Design award. Industry Week. 50Best US Manufacturers Trex was named one of IndustryWeek's 50 Best US Manufacturers, capturing the 6th spot on the list. Builder BRAND USE STUDY-2022- For the fourth time in the study's 15-year history, Trex earned top honors across all of the measured criteria for the Composite/PVC Decking category. Trex also outperformed all other brands in the Deck Railing category as well, further reinforcing its unparalleled prominence and preference among trade professionals. GREEN BUILDER 2022 Brand Leader GREENBUILDERMEDIA.COM For the 12th consecutive year, Trex earned the designation "greenest" decking in the industry by the readers and once again received the highest score for decking in the Green Builder Media Brand Index. GREEN BUILDER Best Score BRAND INDEX 2021 Trex was recognized as America's most trusted outdoor decking brand by Lifestory Research in 2021. 2021 Editors' Choice GREEN BUILDER HOT50 PRODUCTS Trex Signature® Railing was listed on Green Builder Media's 2021 list for "Hot 50 Products". AMERICA'S $MOST TRUSTED 2 TRUS 2 Lifestory Research America's Most Trusted Brand Survey named Trex® America's Most Trusted Outdoor Decking Brand 2022 GREEN BUILDER SUSTAINABLE PRODUCT OF THE YEAR GREENBUILDERMEDIA.COM Trex was honored with the 2022 Green Builder Sustainable Product of the Year for Trex® AR Deck Visualizer 21#22ESG - ENVIRONMENTAL Trex Products Born From Sustainable Innovation Sustainability is built-in to our products, and we continually Trex Product Footprint Improvements Reduced GHG emissions intensity by 33% between 2020 and 2021 ENERGY USE AND GHG EMISSIONS1 Units 2019 2020 2021 GHG emissions Metric tons 108,740 120,410 124,095 (Scope 1 and 2) CO₂e GHG emissions intensity Metric tons CO₂e/ $ million sales 0.16 0.15 0.10 Total energy use MWh 331,920 366,690 404,771 (electricity, natural gas and fuels) Energy use intensity MWh/$ 0.48 0.44 0.34 million sales 1 Data is for Trex Residential only seek ways to strengthen our ESG performance Environmental Stewardship UPCYCLING OUR RAW MATERIALS We don't just recycle diverted wastes. We upcycle them, meaning we create a product of higher value and greater utility than the original materials PROCESS WASTE RECYCLING ~100% production scrap recycled internally WATER CONSERVATION 0 0 Trex ~99% Water recycled annually with closed-loop cooling systems across our Virginia and Nevada manufacturing facilities CLEAN AIR TECHNOLOGIES We recorded ZERO environmental compliance issues at our manufacturing operations in 2021 22 22#23ESG - SOCIAL Investing in Our People Trex . • • . FAIR AND EQUITABLE PAY Robust hourly wages, salary and total compensation Compensation structure regularly reviewed for signs of emerging inequities along gender or ethnicity lines DIVERSITY, EQUITY AND INCLUSION • Committed to offering a diverse, equitable and inclusive work environment Inclusivity forms the core of our approach to recruitment, training, engagement, retention and career development Continually refine recruitment efforts to increase diversity in our workforce and ensure all employees feel supported and empowered to thrive in their roles 25% 26% 20% 33% WOMEN IN WORKFORCE WOMEN IN MANAGEMENT DIVERSE EMPLOYEES WOMEN ON BOARD OF DIRECTORS Social Impact in Our Communities Through our recycling programs and community investment projects, we make a lasting impact on people and the planet ENVIRONMENTAL OUTREACH > We are one of the largest recyclers of polyethylene film bags, wraps and packaging in North America > We are a leader in educating and engaging both the commercial and consumer sectors in recycling efforts > From 2012 to 2021 approximately 2.5 million pounds of waste plastic film was recycled through our community outreach programs > Our NexTrex program has over 32,000 collection locations across the United States and Canada COMMUNITY INVESTMENT > Golden Award from United Way for our donation > Feeding America > Yellow Ribbon Fund $2.5 Million COMMUNITY INVESTMENT BY TREX AND ITS EMPLOYEES OVER THE LAST EIGHT YEARS Based on 2021 ESG Report and company data. 23 23#24Trex ESG - GOVERNANCE Board of Directors STRONG BLEND OF STABILITY, EXPERIENCE AND DIVERSE PERSPECTIVES > Separate CEO and Chairman ➤ Eight independent directors; four members serve on other public company boards > NGC Committee oversees ESG Oversight > Formalized ESG oversight at the executive level Executive Compensation THE CORE PRINCIPLES OF THE COMPANY'S EXECUTIVE COMPENSATION PROGRAM > Competitive Pay + Pay-for-performance > Utilize a Total Compensation Perspective > Create an ownership culture - align executive officers' interests with those of our stockholders > Improved financial performance Directors and Officers Hold Significantly More Than Their Required Minimum Stock Holdings 1 Required Shares Shares Owned and Held Multiple of Requirement Held Officers 44,175 421,419 9.54 1 Data is presented as an aggregate number of shares held by officers and directors, respectively. Data as of December 31, 2021. Outside Directors 21,318 178,236 8.36 24#25INVESTMENT SUMMARY Addresses one of the fastest growing markets for attractively-designed, customized outdoor living spaces Brand Leader in the industry Consistent Market Share Gains against wood and within the composite industry Expanding Capacity with announced a 3rd production site in Little Rock, AR Continuous engineering and manufacturing improvements drive significant operating leverage - - Low-cost Manufacturing; targeted investments to improve line throughput Cost Reduction Initiatives are driving savings; manufacturing automation and modernization, improved energy utilization and raw material processing Sustainability built into the business; "Greenest" decking manufacturer Recycling - a strategic and cost advantage Focus on new product development - Expansive Offering of eco-friendly decking and railing products for a breadth of audiences, leverage commercial segment to develop products for the consumer market, and continually drive cost savings from other synergies New Products tailored to reach new consumer segments Strong Balance Sheet and Cash Generation - Invest in Internal Growth and Profit Improvement opportunities Return Capital to Shareholders Fund future Acquisitions Trex 25#26Trex Engineering What's Next in Outdoor LivingⓇ APPENDIX 26#27SUMMARY FINANCIALS TTM $ Millions 2017 2018 2019 2020 2021 Q2 2022 Adjusted Sales $565 $690 $745 $881 $1,197 $1,365 Adjusted Gross Profit $243 $301 $307 $366 $461 $539 Adjusted Gross Margin % 43.1% 43.6% 41.1% 41.5% 38.5% 39.5% Adjusted SG&A $101 $118 $118 $126 $140 $105 % of Net Sales 18% 17% 16% 14% 11% 10% Adjusted Oper Income $142 $183 $188 $240 $321 $434 % of Net Sales 25% 26% 25% 27% 27% 32% Depreciation $17 $16 $14 $18 $36 $39 Adjusted EBITDA $159 $199 $202 $258 $357 $395 % of Net Sales 28% 29% 27% 29% 30% 29% Free Cash Flow $87 $104 $89 $17 $100 $12 Net Debt -$31 -$106 -$149 -$122 -$141 -$17 Adjusted ROIC 67.5% 62.6% 52.5% 46.9% 46.7% 52.3% Trex 27#28Trex NON-GAAP RECONCILIATIONS $ Millions TTM 2017 2018 2019 2020 GAAP Sales $565 $684 $745 2021 2022 $881 $1,197 $1,365 2018 Net Sales charge for product repositioning Adjusted Sales $6 $565 GAAP Gross Profit $243 $295 $690 $745 $307 $881 $1,197 $1,365 $359 $461 $539 Legacy product warranty reserve $6 2018 Net Sales charge for product repositioning Adjusted Gross Profit $6 $243 $301 $307 $366 $461 $539 GAAP Operating Income $142 $177 $188 $234 $275 $389 Legacy product warranty reserve $6 2018 Net Sales charge for product repositioning $6 Trex Commercial Products Goodwill Impairment Gain on insurance proceeds at Trex Residential Adjusted Operating Income GAAP Net Income $54 $54 -$9 -$7 $142 $183 $188 $240 $321 $435 $95 $135 $145 $176 $209 $306 GAAP Income Tax / Interest / Depreciation / Amortizatio Legacy product warranty reserve $64 $59 $57 $76 $103 $42 $6 2018 Net Sales charge for product repositioning $6 Trex Commercial Products Goodwill Impairment $54 $54 Gain on insurance proceeds at Trex Residential Adjusted EBITDA -$9 -$7 $159 $199 $202 $258 $357 $395 GAAP Operating Cash Flows GAAP Investing Cash Flows Add back Acquisitions Free Cash Flow GAAP Diluted EPS * Impact of Adjustments to Ol (net of tax) Adjusted Diluted EPS * * Prior Period EPS and Adjusted EPS restated for impact of June 18, 2018 and September 15, 2020 2-for-1 stock splits. $102 $138 $156 -$87 -$34 -$67 $72 $87 $104 $0.81 $1.14 $1.24 $0.00 $0.03 $0.00 $187 $258 $478 -$171 -$158 -$131 $89 $17 $100 $347 $1.51 $1.80 $2.70 $0.04 $0.30 $0.41 $0.81 $1.17 $1.24 $1.55 $2.10 $3.12 28#29Trex Engineering What's Next in Outdoor LivingⓇ Trex Company, Inc. NYSE: TREX INVESTOR RELATIONS CONTACT: Vicky Nakhla Advis▪Ry Partners [email protected] 646-625-4800 or Dennis Schemm Senior Vice President and CFO [email protected] 540-542-6300 © 2022, Trex Company, Inc. 29