Investor Presentaiton

Powerful Cash Engine Supports Our Capital Deployment Priorities And Fuels Our Strategy Free Cash Flow¹ ($M) $520 $500 Capital Allocation Priorities Next 5 Years Est. Capital Deployment >$1.0B Strong Balance Sheet Net Debt/Adj. EBITDA1 • $194 FY14 - FY18 FY19 - FY23 FY24 FY28E Delivered $714M in cumulative FCF from FY14 - FY23 Significant optionality with a focus on target leverage <1.5x and buybacks • Target: $500M of cumulative FCF from FY24 - FY28 while also investing for growth • • Target: FY28 FCF >$150 million Growth Capex Maintenance Capex Capital allocation priorities are reinvesting for growth, debt paydown, and returning excess cash to shareholders via buybacks -75% of Capex earmarked for growth through FY28, providing substantial flexibility Target: $500M in investments in our GDP initiatives through FY28 4.2x 3.5x Target leverage: <1.5x 2.6x 2.1x 1.9x 1.4x • FY18 FY19 FY20 FY21 FY22 FY23 Executed on rapid deleveraging since FY22 resulting • in a 2.10x reduction in leverage through FY23 Current fixed rate debt comprises >50% of total debt at below market rates through FY25 • Target leverage: Achieve and maintain Net Debt / Adj. EBITDA below ~1.5x through the cycle American Woodmark 1 Note the FY 2024 through FY 2028 projected financial numbers presented above reflect the current expectations and beliefs of management. See additional disclosures, footnote 1 on slide 33 for further information, Appendix A for a reconciliation of each non-GAAP number to the most comparable GAAP financial measure and for definitions of "Adjusted EBITDA" and "Free Cash Flow". 30

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