Ply Gem Q1 2017 Earnings Slides Final

1. First Quarter
2017 Results
Gary E. Robinette
Chairman & Chief Executive Officer
Shawn K. Poe
Chief Financial Officer

2. PlyGem.com2
• First Quarter Review Gary Robinette
• Financial Results by Segment Shawn Poe
• Margin and Growth Initiatives Gary Robinette
• Economic Outlook Gary Robinette
• Questions and Answers Gary Robinette & Shawn Poe
• Closing Remarks Gary Robinette
Agenda

3. PlyGem.com3
These slides and the accompanying oral discussion may contain “forward-looking statements” within the meaning of the Private Securities
Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that could cause the
actual results of Ply Gem Holdings, Inc. (the “Company”) to differ materially from the results expressed or implied, including: downturns or
negative trends in the home repair and remodeling or the new construction end markets, or the U.S. and Canadian economies or the
availability of consumer credit; competition from other building products manufacturers and alternative building materials; inability to
successfully develop new products or improve existing products; changes in the costs and availability of raw materials; consolidation and
further growth of our customers; loss of, or a reduction in orders from, any of our significant customers; inclement weather conditions;
increases in union organizing activity and work stoppages at our facilities or the facilities of our suppliers; our ability to employ, train and
retain qualified personnel at a competitive cost; claims arising from the operations of our various businesses prior to our acquisitions;
product liability claims, including class action claims and warranties, relating to the products we manufacture; litigation outside of product
liability claims; loss of certain key personnel; interruptions in deliveries of raw materials or finished goods; changes in building codes and
standards could increase the cost of our products, lower the demand for our products, or otherwise adversely affect our business;
environmental costs and liabilities; manufacturing or assembly realignments; threats to, or impairments of, our intellectual property rights;
increases in transportation, freight and fuel costs; changes in foreign currency exchange and interest rates; material non-cash impairment
charges; our significant amount of indebtedness; covenants in the ABL Facility, the credit agreement governing our Senior Secured Term
Loan Facility and the indenture governing the 6.50% Senior Notes; limitations on our net operating losses and payments under the tax
receivable agreement to our stockholders; failure to successfully consummate and integrate acquisitions; actual or perceived security
vulnerabilities or cyberattacks on our networks; failure to effectively manage labor inefficiencies associated with increased production and
new employees added to the Company; failure to generate sufficient cash to service all of our indebtedness and make capital
expenditures; control by the CI Partnerships; and the risks set forth in the Company’s filings with the Securities and Exchange
Commission. Consequently such forward-looking statements should be regarded as the Company’s current plans, estimates and beliefs.
Except as required by law, the Company does not undertake and specifically declines any obligation to publicly release the results of any
revisions to these forward-looking statements that may be made to reflect any future events or circumstances after the date of such
statements or to reflect the occurrence of anticipatedor unanticipated events.
In addition, these slides and the accompanying oral discussion reference financial information determined by methods other than in
accordance with accounting principles generally accepted in the United States of America (“GAAP”), such as adjusted EBITDA. The
Company’s management uses these non-GAAP measures in its analysis of the Company’s performance. The Company believes that the
presentation of certain non-GAAP measures provides useful supplemental information that is essential to a proper understanding of the
operating results of the Company’s core business. These non-GAAP measures should not be viewed as a substitute for operating results
determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented
by other companies. A reconciliation of each non-GAAP financial measure to the most directly comparable GAAP financial measure is
provided in the appendix to the slides andis included in our press release issued onMay 8, 2017 and postedon www.plygem.com.
Legal Disclaimer

4. PlyGem.com4
Ply Gem Overview
• Leading Manufacturer of Exterior Building Products
• Comprehensive Product Portfolio with Strong Brand Recognition
• Multi-Channel Distribution Network Servicing a Broad Customer Base
• Balanced End Market Exposure Driven by Diversified Product Mix
• Highly Efficient, Low Cost Operating Platform
• Proven Track Record of Acquisition Integration & Cost Savings
Realization
• Strong Management Team with Significant Ownership
Platform Built for Growth and Operating Leverage
Repair and
Remodel
Leverage to New
Housing Starts
New Products and
Innovation Drive
Share Gains
M&A Opportunities
US
90%
Canada
10%
Siding
47%Windows
53%
(*) LTM April 1, 2017
(*)
(*)

5. PlyGem.com5
First Quarter 2017 Highlights
($ in Millions) Q1 2017 Q1 2016
Net Sales
Y-O-Y Change
$430.0
5.2%
$408.6
Gross Profit
Gross Profit %
$89.5
20.8%
$86.7
21.2%
Operating Earnings
Y-O-Y Change
$11.8
23.5%
$9.6
Adj. EBITDA
As % of Net Sales
$27.1
6.3%
$24.7
6.1%
End Market Exposure
New
Construction
60%
Home
Repair &
Remodel
40%
Key Highlights
• Sales increased $21.4M during the quarter. Our U.S.
businesses experienced an organic growth rate of 7.0%
which was primarily driven by increased demand for our
products within our Siding, Fencing and Stone segment
and our new construction windows and doors. For the
Company, favorable price and product mix provided a
sales increase of $11.0M within our segments. Including
the impact of favorable currency exchange rates,
Canadian sales during the quarter increased $1.6M.
These sales drivers were partially offset by $6.2M
resulting from 1 fewer shipping day in the quarter
compared to 2016 due to the Company’s fiscal calendar.
• Gross margin contracted 40 basis points primarily driven
by unfavorable commodity costs, primarily PVC resin
and aluminum, relative to Q1 2016 in our Siding, Fencing
& Stone segment, partially offset by higher average
selling prices in our Windows and Doors segment.
• Adjusted EBITDA margin increased 20 basis points due
to improved leverage on the fixed component of SG&A
expense.
• Twelfth consecutive year-over-year quarterly adjusted
EBITDA improvement. Incremental year-over-year
quarterly adjusted EBITDA growth of 9.5%.
Note: Certain amounts in this presentation have been subject to rounding adjustments. Accordingly, amounts shown as total may not be the arithmetic aggregation of the individual amounts that comprise or precede them.

6. PlyGem.com6
First Quarter 2017 Highlights
First Quarter Net Sales Performance Bridge ($ in Millions)
$430.0
6.2
$408.6
11.0
15.6 1.0
$400.0
$410.0
$420.0
$430.0
$440.0
1Q 2016 Net Sales Price/Mix U.S. Volume CAD Volume
& FX Impact
Impact of
Shipping Days
1Q 2017 Net Sales
Net Sales
First Quarter Adjusted EBITDA Performance Bridge ($ in Millions)
$27.1
8.2
2.4
1.7
1.3 $24.7
5.0
11.0
$-
$10.0
$20.0
$30.0
$40.0
1Q 2016 Adj EBITDA Volume Price/Mix Material Costs /
Freight
Conversion / Fixed
Costs
Impact of
Shipping Days
SG&A / Other 1Q 2017 Adj EBITDA
Adj. EBITDA

7. PlyGem.com7
Window & Doors (W&D) Segment – First Quarter
First Quarter Results ($ in Millions)
$217.9 $211.8
$21.3 $20.4
Q1 2017 Q1 2016
Net Sales
U.S. Canada
$232.2$239.2
Q1 2017 Q1 2016
U.S. 18.5% 17.9%
Canada 15.6% 12.2%
W&D Segment 18.2% 17.4%
Gross Margin %
Key Highlights
• Sales were favorable by $6.9M or 3.0% primarily driven by
$9.6M of price and product mix, $0.9M of increased volume,
including the impact of favorable foreign currency, partially
offset by $3.6M resulting from 1 fewer shipping day in the
quarter compared to 2016 due to the Company’s fiscal
calendar.
• Gross margin expanded by 80 basis points primarily driven by
improved pricing and product mix for our U.S. and Canadian
businesses, partially offset by increased commodity costs,
mainly PVC resin, aluminum and glass, and increased freight,
labor and conversion costs.
• SG&A expense increased slightly during the quarter, however
as a percent of sales, SG&A expense decreased 30 basis points
from 16.6% to 16.3%.
End Market Exposure (*)
New
constructio
n
75%
Home
repair &
remodel
25%
(*) For the three months ended April 1, 2017

8. PlyGem.com8
W&D Segment Gross Margin – First Quarter
17.4%
18.2%1.3%
1.0% 0.3%
3.…
10.0%
12.0%
14.0%
16.0%
18.0%
20.0%
22.0%
24.0%
1Q16
Gross Margin
Selling Price /
Product Mix
Commodity Costs Labor, Conversion &
Freight Costs
Unfavorable FX /
Other
1Q17
Gross Margin
Quarterly Gross Margin Performance • Selling price/product mix reflect
favorable product mix and impact
of selling price increases
implemented in 2016 for U.S. and
Canada.
• Commodity cost unfavorable due
mainly to rising PVC resin,
aluminum and glass costs.
• Unfavorable labor, conversion &
freight costs.
20.9%
15.4% 14.0% 15.4% 13.1% 13.8%
9.7% 12.9%
18.1% 19.8% 20.0%
1,046
622
445 471 431
535
618 648
715
782 792
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 1Q17 LTM
Historical Gross Margin Performance
Annual Gross Profit % U.S. SFHS - in thousands (*)

9. PlyGem.com9
Siding, Fencing & Stone (SFS) Segment – First Quarter
First Quarter Results ($ in Millions)
$171.4 $157.7
$19.4
$18.7
Q1 2017 Q1 2016
Net Sales
U.S. Canada
$176.4
$190.8
Gross Margin %
Q1 2017 Q1 2016
U.S. 24.0% 26.4%
Canada 24.7% 24.4%
SFS Segment 24.1% 26.2%
(*) For the three months ended April 1, 2017
Key Highlights
• Sales increase of $14.5M or 8.2% primarily driven by organic
unit growth of 7.0% in the U.S. business and $2.1M of price
and product mix, including the impact of favorable foreign
currency, partially offset by $2.6M resulting from 1 fewer
shipping day in the quarter compared to 2016 due to the
Company’s fiscal calendar.
• Gross margin contracted by 210 basis points, primarily driven
by unfavorable commodity cost due mainly from aluminum
and PVC resin, and product mix.
• SG&A expense increased $1.3M during the quarter due to
increased sales, however as a percent of sales, SG&A expense
decreased 30 basis points from 12.8% to 12.5%.
End Market Exposure (*)
New
construction
40%
Home repair
& remodel
60%

10. PlyGem.com10
SFS Segment Gross Margin – First Quarter
26.2%
24.1%
2.… 0.6%
0.6
%
15.0%
20.0%
25.0%
30.0%
1Q16
Gross Margin
Selling Price /
Product Mix
Commodity Costs Conversion Costs
& Other
1Q17
Gross Margin
Quarterly Gross Margin Performance
• Selling price/product mix reflects
selling price increases announced
during 1Q17 which began to be
realized toward the end of the
quarter partially offset by a higher
proportion of metal products sold
during the quarter compared to the
prior year which carry a lower
gross margin.
• Commodity cost unfavorable due
mainly to rising PVC resin and
aluminum costs.
20.4% 18.4% 25.9% 25.7% 24.8% 27.4% 26.8% 26.1% 28.4% 29.3% 28.7%
.5208
.6200
.5288
.6458
.6971 .6975 .7134 .7534
.7250
.7617
.7866
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 1Q17 LTM
Historical Gross Margin Performance
Annual Gross Profit % PVC Resin Price/lbs (*)

11. PlyGem.com11
($ in Millions) 2011 2012 2013 2014 2015 2016 1Q16 LTM 1Q17 LTM
Senior Notes $950.0 $1,000.0 $852.0 $650.0 $650.0 $650.0 $650.0 $650.0
Term Loan Facility - - - 426.8 422.5 258.2 391.4 257.1
ABL 55.0 15.0 - - - - 10.0 30.0
Total Debt $1,005.0 $1,015.0 $852.0 $1,076.8 $1,072.5 $908.2 $1,051.4 $937.1
Cash 11.7 27.2 69.8 33.2 109.4 52.0 34.3 20.7
Net Debt $993.3 $987.8 $782.2 $1,043.6 $963.1 $856.2 $1,017.1 $916.4
Adj. EBITDA $112.2 $126.8 $117.5 $124.2 $184.6 $229.0 $207.1 $231.4
Interest Coverage 1.2 1.3 1.4 1.9 3.1 3.9 3.4 4.1
Leverage Ratio 8.9 7.8 6.7 8.4 5.2 3.7 4.9 4.0
Historical Leverage Ratio
4.9
4.0
8.9
7.8
6.7
8.4
5.2
3.7
-
2.0
4.0
6.0
8.0
10.0
2011 2012 2013 2014 2015 2016 1Q16 LTM 1Q17 LTM
Leverage Ratio

12. PlyGem.com12
Margin Enhancements & Growth Initiatives
Selling Price Increases
ü W&D Q1 2017 price increases were announced in October 2016. Selling price increases range
from 6% to 8%
ü SFS December 2016 price increases have been announced in November 2016 for the U.S.
siding products due to rising material costs. Selling price increases range from 6% to 8%
ü SFS April 2017 additional price increase for all metal and metal accessory products due to
rising aluminum costs. Selling price increases range from 5% to 6%
ü SFS June 2017 additional price increase for all vinyl and injected molded products in the U.S.
due to rising PVC resin costs. Selling price increases range from 6% to 8%
Growth Initiatives
ü Cross Selling Opportunities – Continue to integrate our extensive product categories across
our legacy customer base and acquired Simonton customer base
ü Expand market penetration of Ply Gem’s adjacent products such as PVC trim, engineered
roofing and engineered stone
ü Continued new product innovation through the Ply Gem Insight Center and Foundation Labs

13. PlyGem.com13
Economic Outlook & Guidance
Expect Continued Steady Growth in U.S. Housing Starts
ü Expect overall moderate growth of 5% to 10% in U.S. housing recovery in 2017
ü Expect an overall moderate growth rate for big ticket R&R spend of approximately 3%
to 5% in 2017
ü Overall Canadian housing starts expected to be relatively flat compared to 2016
2017 EBITDA Guidance
ü Based on the forecasted growth of the U.S. housing market and R&R spend, the impact
of our enacted selling price increases and other margin enhancing initiatives, we expect
our adjusted EBITDA 2017 to be in the range of $250M to $265M

14. PlyGem.com14
Appendix
Non-GAAP Adjusted EBITDA Reconciliation

15. PlyGem.com15
First Quarter Adjusted EBITDA Reconciliation
(amounts in thousands)
For the three
months ended
April 1, 2017
For the three
months ended
April 2, 2016
Net loss ($3,637) ($27,577)
Interest expense, net 16,872 18,682
Benefit for income taxes (1,254) (1,494)
Depreciation and amortization 13,453 14,030
EBITDA $25,434 $3,641
Non cash gain in foreign currency transactions (155) (584)
Customer inventory buybacks 566 471
Restructuring/integrationexpense 957 653
Litigation – class action charges, net 288 -
Tax receivable agreement liability adjustment - 18,150
Loss on modification or extinguishment of debt - 2,399
Adjusted EBITDA $27,090 $24,730

16. PlyGem.com16
First Quarter EBITDA Adjustments By Segment (*)
(amounts in thousands)
For the three months ended
April 1, 2017
For the three months ended
April 2, 2016
SFS
Segment
W&D
Segment
Total
SFS
Segment
W&D
Segment
Total
Non cash gain on foreign current
transactions
($19) ($136) ($155) ($74) ($510) ($584)
Customer inventory buybacks 566 - 566 484 (13) 471
Restructuring/integrationexpense 53 - 53 131 522 653
Litigation – class action charges, net - 23 23 - - -
$600 ($113) $487 $541 ($1) $540
(*) Does not reflect unallocated and corporate EBITDA adjustments