May 9, 2016

Ply Gem Holdings

First Quarter 2016 Results

Gary E. Robinette Shawn K. PoeChairman & Chief Executive Officer Chief Financial Officer

LegalDisclaimer

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These slides and the accompanying oral discussion may contain “forward-looking statements” within the meaning of the PrivateSecurities Litigation Reform Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that couldcause the actual results of Ply Gem Holdings, Inc. (the “Company”) to differ materially from the results expressed or implied, including:downturns in the home repair and remodeling or the new construction end markets, or the economy or the availability of consumercredit; competition from other exterior building products manufacturers and alternative building materials; inability to successfullydevelop new products or improve existing products; changes in the costs and availability of raw materials; consolidation and furthergrowth of our customers; loss of, or a reduction in orders from, any of our significant customers; inclement weather conditions; increasesin union organizing activity and work stoppages at our facilities or the facilities of our suppliers; our ability to employ, train and retainqualified personnel at a competitive cost; claims arising from the operations of our various businesses prior to our acquisitions; productliability claims, including class action claims, relating to the products we manufacture; litigation outside of product liability claims; loss ofcertain key personnel; interruptions in deliveries of raw materials or finished goods; environmental costs and liabilities; inability to realizeanticipated synergies and cost savings with respect to acquisitions; manufacturing or assembly realignments; threats to, or impairmentsof, our intellectual property rights; increases in transportation 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 agreementgoverning our Senior Secured Term Loan Facility and the indenture governing the 6.50% Senior Notes; limitations on our net operatinglosses and payments under the tax receivable agreement to our stockholders; failure to successfully consummate and integrateacquisitions; actual or perceived security vulnerabilities or cyberattacks on our networks; failure to effectively manage labor inefficienciesassociated with increased production and new employees added to the Company; failure to generate sufficient cash to service all of ourindebtedness and make capital expenditures; control by the CI Partnerships; and the risks set forth in the Company’s filings with theSecurities 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 publiclyrelease the results of any revisions to these forward-looking statements that may be made to reflect any future events or circumstancesafter the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

In addition, these slides and the accompanying oral discussion reference non-GAAP financial measures, such as adjusted EBITDA. Areconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measure is provided in the Appendix to

these slides and is included in our press release issued on May 9, 2016 and posted on www.plygem.com.

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41%

55% 45%

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First Quarter 2016 ResultsToday’s Presenters

90%

10%

Agenda

• First Quarter Review Gary Robinette

• Financial Results Shawn Poe

• Acquisition Synergies and Cost Savings Shawn Poe

• Margin Initiatives Gary Robinette

• Economic Outlook Gary Robinette

• Questions and Answers Gary Robinette & Shawn Poe

• Closing Remarks Gary Robinette

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41%

55% 45%

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One of the Largest Manufacturers of Exterior Building and Home Improvement Products

90%

10%

CompanyOverview

Repair and Remodel

Leverage to New Housing Starts

New Products and Innovation Drive

Share GainsM&A Opportunities

Platform Built for Growth and Operating Leverage

• 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

US89%

Canada11%

(*)

Siding46%Windows

54%

(*)

(*) LTM April 2, 2016, Pro Forma for Canyon Stone acquisition

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Ply GemResults

Key Highlights

First Quarter 2016 Highlights

• Sales increase of 8.7% was primarily due to organic growth in our U.S. businesses, the Canyon Stone acquisition, and favorable price and product mix. U.S. organic growth of 12.4% was driven by a 7.8% lag affected increase in U.S. single-family housing starts and increased demand for our products due to favorable winter weather conditions in 2016 compared to the prior year. The Canyon Stone acquisition resulted in a sales increase of $6.4. Favorable price and product mix provided a sales increase of $2.1, which was driven by our Windows and Doors segment. These sales drivers were partially offset by weaker market conditions in Western Canada, unfavorable foreign currency exchange rates which negatively impacted sales by $4.1, and a $5.5 negative impact on sales due to 1 fewer shipping days in the quarter compared to 2015 due to the Company’s fiscal calendar.

• Gross margin expansion of 520 basis points primarily driven by increased average selling prices in our Windows and Doors segment, improved operating leverage due to increased unit volume in both business segments, favorable commodity costs, realized synergies from acquisitions, and favorable freight costs, partially offset by unfavorable foreign currency impact from a weakening Canadian dollar.

• Eighth consecutive year-over-year quarterly adjusted EBITDA improvement. Excluding acquisitions, incremental year-over-year quarterly adjusted EBITDA growth of 973.0%.

• 1Q16 LTM adjusted EBITDA of $207.1 exceeded $200.0 for the first time in the Company’s history.

New Construction

58%

Home Repair & Remodel

42%

End Market Exposure

($ in Millions) Q1 2016 Q1 2015

Net SalesY-O-Y Change

$408.68.7%

$376.0

Gross ProfitGross Profit %

$86.721.2%

$60.316.0%

Operating Earnings (Loss)Y-O-Y Change

$9.6168.2%

($14.1)

Adj. EBITDAAs % of Net Sales

$24.76.1%

$2.30.6%

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Ply GemResults First Quarter 2016 Highlights

$24.7 2.4 0.5 1.4 1.1 0.9

$2.3

17.8

8.5 2.1 0.3

-

10.0

20.0

30.0

40.0

Q1 2015 AdjEBITDA

MaterialCosts

U.S. Volume Price/Mix Acquisitions IncentiveComp.

Other CAD Volume Impact ofShipping

Days

F/X Q1 2016 AdjEBITDA

Ad

j. E

BIT

DA

First Quarter Adjusted EBITDA Performance Bridge

First Quarter Net Sales Performance Bridge

$408.6 6.8 5.5

4.1

$376.0

40.5 2.1

6.4

350.0

375.0

400.0

425.0

450.0

Q1 2015 Net Sales U.S. Volume Price/Mix Acquisitions CAD Volume Impact ofShipping Days

F/X Q1 2016 Net Sales

Net

Sal

es

6

7.4

8.9

7.8

6.7

8.4

5.2 4.9

-

2.0

4.0

6.0

8.0

10.0

2010 2011 2012 2013 2014 2015 1Q16 LTM

Leve

rage

Rat

io

Leverage Ratio

($ in Millions) 2010 2011 2012 2013 2014 2015 1Q16 LTM

Senior Notes $875.0 $950.0 $1,000.0 $852.0 $650.0 $650.0 $650.0

Term Loan Facility - - - - 426.8 422.5 391.4

ABL 30.0 55.0 15.0 - - - 10.0

Total Debt $905.0 $1,005.0 $1,015.0 $852.0 $1,076.8 $1,072.5 $1,051.4

Cash 17.5 11.7 27.2 69.8 33.2 109.4 34.3

Net Debt $887.5 $993.3 $987.8 $782.2 $1,043.6 $963.1 $1,017.1

Adj. EBITDA $120.6 $112.2 $126.8 $117.5 $124.2 $184.6 $207.1

Leverage Ratio 7.4 8.9 7.8 6.7 8.4 5.2 4.9

Historical Leverage Ratio

Significant De-Leveraging

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Windows & Doors (W&D)Segment

Key HighlightsFirst Quarter Results

Leader in Vinyl and Aluminum Windows

$211.8 $189.7

$20.4

$29.9

Q1 2016 Q1 2015

Net Sales

U.S. Canada

$219.6$232.2

End Market Exposure (*)

• Sales increase of 5.8% primarily due to the organic growth of our U.S. new construction and repair and remodel products and favorable price and product mix within the segment. Overall U.S. growth was 11.7% which was driven by a 14.7% increase in our new construction products and a 5.6% increase in our repair and remodel products, which exceeded the lag affected 7.8% increase in U.S. single family housing starts. In addition, price and product mix within the U.S. and Western Canadian businesses increased sales by $9.8. This sales growth was partially offset by weaker market conditions in Western Canada, unfavorable foreign currency exchange rates which negatively impacted sales by $2.1, and the negative impact of $3.3 on sales due to 1 fewer shipping day in the quarter compared to 2015 due to the Company’s fiscal calendar.

• Gross margin improved by 580 basis points primarily driven by a 640 basis point gross margin improvement in our U.S. businesses due to improved pricing and product mix, realized synergies from the Simonton acquisition, and improved operating leverage at our U.S. businesses based on higher volumes over fixed costs, partially offset by unfavorable foreign currency.

• SG&A expense as a percent of sales decreased from 17.7% to 16.6% or a nominal decrease of $0.2.

Q1 2016 Q1 2015

U.S. 17.9% 11.5%

Canada 12.2% 12.4%

W&D Segment 17.4% 11.6%

Gross Margin %

New construction

72%

Home repair & remodel

28%

(*) For the three months ended April 2, 2016

W&D Gross Margin

Less operating leverage due to sales volume decreases driven by weather andpull-back in new construction demand

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W&D Segment Gross Margin Bridge and Historical Performance

20.9%15.4% 14.0% 15.4% 13.1% 13.8%

9.7%12.9%

18.1% 19.4%

1,046

622

445 471 431535

618 648715 746

2007 2008 2009 2010 2011 2012 2013 2014 2015 1Q16 LTM

Historical Gross Margin Performance

Annual Gross Profit % U.S. SFHS (*)

Note: Includes Simonton from date of acquisition

11.6%

17.4%

1.0% 4.2%

2.2% 0.4%

10.0%

12.0%

14.0%

16.0%

18.0%

20.0%

22.0%

Q1 2015 GrossMargin

Selling Price /Product Mix

Commodity Costs Freight Costs Unfavorable FX /Other

Q1 2016 GrossMargin

Quarterly Gross Margin Performance• Selling price/product mix reflect

favorable product mix and impact of selling price increases implemented in 2015.

• Commodity cost favorability due mainly from PVC resin and aluminum costs and synergies realized through the Simonton acquisition.

• Favorable freight costs due to decline in fuel pricing partially offset by rising driver and freight insurance costs.

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Siding, Fencing & Stone (SFS) Segment

Key HighlightsFirst Quarter Results

Market Leader in Vinyl Siding

$157.7 $137.7

$18.7

$18.7

Q1 2016 Q1 2015

Net Sales

U.S. Canada

$156.4

New construction

39%

Home repair & remodel

61%

End Market Exposure (*)

• Sales increase of $19.9 or 12.7% primarily driven by organic growth of the U.S. and Eastern Canadian businesses and the Canyon Stone acquisition which accounted for $6.4 of sales growth. Growth in the segment was partially offset by lower average selling prices, unfavorable foreign currency exchange rates which negatively impacted sales by $2.0, and the negative impact of $2.2 on sales due to 1 fewer shipping day in the quarter compared to 2015 due to the Company’s fiscal calendar.

• Gross margin expanded by 400 basis points, primarily driven by favorable leverage on additional sales volume, lower commodity costs and freight expense, partially offset by unfavorable lower average selling prices and unfavorable foreign currency.

• SG&A expense increased $1.2 which was due to the Canyon Stone acquisition which accounted for $1.6 of the SG&A expense increase. SG&A expense as a percent of sales decreased from 13.7% to 12.8%.

Gross Margin %

Q1 2016 (**) Q1 2015

U.S. 26.4% 21.2%

Canada 24.4% 30.1%

SFS Segment 26.2% 22.2%

$176.4

(*) For the three months ended April 2, 2016(**) Includes the impact of Canyon Stone

SFS Gross Margin

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SFS Segment Gross Margin Bridge and Historical Performance

20.4% 18.4% 25.9% 25.7% 24.8% 27.4% 26.8% 26.1% 28.4% 28.9%

.5208.6200

.5288

.6458.6971 .6975 .7134 .7534

.7250 .7233

2007 2008 2009 2010 2011 2012 2013 2014 2015 1Q16 LTM

Historical Gross Margin Performance

Annual Gross Profit % PVC Resin Price (*)

22.2%

26.2% 2.1% 0.6%

6.3% 0.4%

20.0%

22.0%

24.0%

26.0%

28.0%

30.0%

Q1 2015 Gross Margin Commodity Costs Freight Costs Selling Price /Product Mix

Unfavorable FX /Other

Q1 2016 Gross Margin

Quarterly Gross Margin Performance• Commodity cost favorability due

mainly from PVC resin and aluminum costs.

• Favorable freight costs due to decline in fuel pricing partially offset by rising driver and freight insurance costs.

• Selling price/product mix reflects a higher proportion of metal products sold during the quarter compared to the prior year which carry a lower gross margin.

Acquisition Synergies and Cost Savings

AcquisitionSynergies

• Simonton – $18 of synergies and cost savings from Simonton acquisition identified through raw material sourcing, manufacturing efficiencies, insourcing products and SG&A

• Canyon Stone – $1 of synergies and cost savings from Canyon Stone acquisition identified through manufacturing efficiencies and raw material sourcing

• During 1Q16, acquisition synergies of $3.1 have been realized, bringing the total acquisition synergies related to the Simonton and Canyon Stone acquisitions to $12.1. We expect the remainder of the synergies to be realized throughout the balance of 2016.

$12.1

$19.0

$9.0

$3.1

$-

$5.0

$10.0

$15.0

$20.0

$25.0

2015 Realized Acq. Synergies 1Q16 Acq. Synergies Realized Total Acq. Synergies Realized Expected Acquisition Synergies

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Margin Initiatives

The Market Innovator

The Leading Brand

Lean through Technology

Our Future Leaders

New Channels and Markets

Selling Price Increases

Q1 2016 price increases have been announced in October 2015 for the W&D Segment. Selling price increases range from 6% to 12%

Q2 2016 price increases have been announced in January 2016 for the Canadian siding products due to the continued weakening of the Canadian dollar

June 2016 price increases have been announced in April 2016 for the U.S. siding products due to rising material costs

Continued Implementation of Enterprise Lean and Sales & Operations Planning (S&OP) System in U.S. Windows and Doors

Enterprise Lean provides product simplification and improves manufacturing flexibility. Realized approximately $4.5 of benefit in 2014 and 2015, and anticipated to provide for an annual savings of approximately $10.0 once fully implemented in 2016

S&OP system provides enhanced capacity and resource planning system which will reduce future ramp-up costs and maximize fixed manufacturing investments

Ply Gem Margin Enhancement Initiatives

Cross Selling Opportunities

Continue to integrate our extensive product categories across our legacy customer base and acquired Simonton customer base

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Ply GemOutlook

The Market Innovator

The Leading Brand

Lean through Technology

Our Future Leaders

New Channels and Markets 2Q 2016 Guidance

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 for 2Q 2016 to be in the range of $72.0 to $77.0 which represents a $9.5 to $14.5 year-over-year improvement.

Economic Outlook & Guidance

Expect Continued Steady Growth in U.S. Housing Starts

Expect continued overall moderate growth of 8% to 10% in U.S. housing recovery in 2016, however we expect the market to experience periods of choppiness

Expect an overall moderate growth rate for big ticket R&R spend of approximately 3% to 5% in 2016

Overall Canadian housing starts expected to moderate relative to 2015 with lower starts in oil-producing regions of Western Canada partially offset by higher starts in other regions

Q&A

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Appendix:

Non-GAAP Adjusted EBITDA Reconciliation

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(amounts in thousands) For the three months ended

April 2, 2016For the three months ended

April 4, 2015

Net loss ($27,577) ($48,859)

Interest expense, net 18,682 19,084

Benefit for income taxes (1,494) (2,394)

Depreciation and amortization 14,030 14,821

EBITDA $3,641 ($17,348)

Non cash loss (gain) on foreign currency transactions (584) 934

Acquisition costs - 286

Customer inventory buybacks 471 52

Restructuring/integration expense 653 1,163

Loss on modification or extinguishment of debt 2,399 -

Tax receivable agreement liability adjustment 18,150 17,185

Adjusted EBITDA $24,730 $2,272

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First Quarter Adjusted EBITDA ReconciliationAppendix

(amounts in thousands) For the three months ended

April 2, 2016For the three months ended

April 4, 2015

SFS Segment W&D Segment Total SFS Segment W&D Segment Total

Non cash loss (gain) on

foreign currency transactions($74) ($510) ($584) $253 $681 $934

Acquisition costs - - - - 261 261

Customer inventory buybacks 484 (13) 471 52 - 52

Restructuring/integration

expense131 522 653 160 1,003 1,163

$361 $922 $1,283 $465 $1,945 $2,410

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First Quarter EBITDA Adjustments By Segment(*)Appendix

(*) Does not reflect unallocated and corporate EBITDA adjustments