Investor presentation

1. Investor Presentation
N o v e m b e r 2 0 1 5

2. 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 in the home
repair and remodeling or the new construction end markets, or the economy or the availability of consumer credit; competition from other
exterior 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, 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; environmental costs and liabilities; inability to realize anticipated synergies and cost savings with respect to acquisitions; manufacturing or
assembly realignments; threats to, or impairments of, our intellectual property rights; increases in 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 current stockholders; failure to successfully consummate and integrate
future acquisitions; actual or perceived security vulnerabilities or cyberattacks on our networks; failure to effectively manage labor inefficiencies
associated with increased productions 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; failure to maintain effective internal controls over financial
reporting; 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 anticipated or 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.
Legal
Disclaimer
1

3. Ply Gem Overview

4. • Exceeding $1.8 Billion in net sales (1)
• Approximately 9,000 associates
One of the Largest Manufacturers of Exterior Building
and Home Improvement Products in North America
3
Company
Overview
(1) LTM 3Q15; Pro Forma for the Simonton and Canyon Stone acquisitions.
46%54% 47%53%
NEW CONSTRUCTION / R&R(1)
WINDOWS / SIDING (1)
13%
87%
U.S. / Canada(1)

5. • #1 in vinyl siding in North America
• #1 in aluminum accessories in U.S.
• #1 in vinyl / aluminum windows in U.S.
• #1 in windows in Western Canada
Leading Manufacturer of Exterior Building
Products
4
Company
Overview
Provider of branded products for new construction and home improvement markets,
sold through multiple distribution channels covering a variety of price points

6. Extensive Exterior Product Portfolio
5
Company
Overview
Engineered roofing products
Gable vents and accessories
Gutter protection systems
Vinyl and aluminum soffit
Window mantles
Manufactured stone
Vinyl and aluminum siding
Shutters
Mounting blocks
Decorative corner posts
Rain removal systems
Door surround systems
Patio Doors
Windows
Rail and fencing
Outdoor structures
Exterior doors
PVC trim

7. • Provides differentiation for Ply Gem customers
• Provides a single sourcing opportunity
• Hits the sweet spot of an emerging trend
• Features NAHB Green Approved products
• Fulfills the “One Ply Gem” MISSION
Alexandria, VA Designed Exterior Remodel
BEFORE
Three Weeks later using The Designed Exterior concept
AFTER
Complete Exterior Solution Offering for Customers
Company
Overview
6

8. Vinyl Siding Market Leader
• #1 vinyl siding manufacturer in North America (~38%
share in the US)
• Consolidated industry with 4 participants
holding over 90% share
• Strong trade brands
• Multi-channel distribution network servicing both new
construction and R&R
• State-of-the-art automated manufacturing facilities with
capacity
~$5,600
~$1,500
$842
Exterior Cladding
Market Size
Vinyl Siding
Market Size
Ply Gem LTM 3Q15
Net Sales
($ in mm)
Why Ply Gem Key Brands
North American Market Summary
7
Company
Overview
(1)
(2)
Market size: According to Principia Partners.
(1) Includes the results of Canyon Stone from the date of acquisition, May 29, 2015
(2) Includes all product categories within Siding, Fencing & Stone segment

9. • #1 vinyl and aluminum window manufacturer in the U.S.
• #1 window and door manufacturer in Western Canada
• Multi-channel distribution network servicing both new
construction and R&R covering every price point
• Highly efficient, vertically integrated production
• Continued to gain market share during downturn
$9,000
$1,017
Market Size Ply Gem LTM 3Q15
Net Sales
($ in mm)
Market size: Company estimate – new construction and R&R.
~
Vinyl and Aluminum Windows Market Leader
Why Ply Gem Key Brands
North American Market Summary
8
Company
Overview

10. Regional local
one-step
distributors
Two-step
distributors
National
one-step
distributors
Retailers
Homebuilders
New Construction
Regional/local
one-step distributors
National one-step
distributors
Retailers
Two-step
distributors
Home Repair and
Remodeling
• Homebuilders
• Contractors
• Contractors
• Individuals
Multi-Channel Distribution Network
Serving a Broad Customer Base
Company
Overview
9
Broad Supply Chain Representative Customers
Diversity of channels and customers with limited customer concentration
Top 10 customers account for only ~48% of 2014 net sales

11. Manufacturing & Distribution Platform
10
Company
Overview
 29 Manufacturing Plants
 34 Distribution Centers

12. • Business diversity
• Cross sell our products
• Double digit growth
• World class safety & quality
• Low cost producer
• Efficient supply chain
Customer
Focus
Innovation
Profitable
Growth
Continuous
Improvement
Human
Resources
LEVERAGE
Company
Overview
11
• Associate development
• Succession planning
• Communicate & empower
• Customer solutions
• Customer experience
• Leading brands
• Measure, Engagement
• New products / Solutions
• Utilize technology
• Open collaboration
• Sustainability

13. Market and Housing Update

14. Crisis of Confidence is Starting to Improve
13
Market
Update
-8.0
-3.0
2.0
7.0
4.0
6.0
8.0
10.0
40.0
60.0
80.0
100.0
2011 2012 2013 2014 2015
Source: Bureau of Labor Statistics, Zillow, University of Michigan,
Government of Canada, CREA, Conference Board of Canada
(*) Excluding Greater Vancouver and Greater Toronto
Unemployment Rate
Annual Change in Home Values
Consumer Sentiment
5.1%
3.3%
92.1
Canada
7.1%
3.3%(*)
95.3
U.S.

15. U.S. SFHS Forecasted to Increase
14
1,719
1,474
1,036
616
442 471 434 537 620 647 714
877
1,148
354
338
306
284
112 114 178
247
308 354
405
378
372
0
500
1,000
1,500
2,000
2,500
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015E 2016E 2017E
Single-Family Multi-Family(in thousands)
-75%
Market
Update
Source: NAHB, November 3, 2015

16. Canada SFHS Forecast
15
121 119
93
76
94 82 84 77 76 68 69 65
106 109
118
73
97 112
131
111 114 119 109 109
0
50
100
150
200
250
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015E 2016E 2017E
Single-Family Multi-Family
Market
Update
Source: CMHC, Fourth Quarter 2015
(in thousands)

17. Growth Will be in Healthier Markets
16
Market
Update
Source: NAHB

18. North American Residential Siding
Market by Product
17
Market
Update
Source: Principia Partners, August 2014
Vinyl
34%
Polymer shakes &
shingles
2%
Wood
14%Brick
9%
Fiber cement
16%
Masonry
veneer
3%
Engineered wood
12%
Stucco
8%
Metals
2%
77%
60%
24%
4%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
Northeast U.S. Midwest U.S. South U.S. West U.S.
Vinyl Siding Brick Stucco Fiber Cement Wood Other
Source: 2014 U.S. Census Bureau
Vinyl Siding Share by RegionVinyl Siding Share by Product Type

19. Median Age of Owner-Occupied Housing
18
Market
Update
Source: 2013 AHS, U.S. Census Bureau
27 27
29 29
30
31 31
32
34
35
37
0
5
10
15
20
25
30
35
40
1993 1995 1997 1999 2001 2003 2005 2007 2009 2011 2013
YearsofAge
• Aging trend signals a growing market for remodelers
• Implied additional demand for more new construction over longer term
• Approximately 2/3 of owner-occupied home in the U.S. were built before 1980
• Homes constructed after 2000 represent just 17% of the U.S. owner-occupied homes, with only 2% built after 2010

20. Top Growth Products for Replacement
Contractors
19
55
30
27
25 24
21
13
10
8
0
10
20
30
40
50
60
2014
Windows
Siding
Doors
Roofing
Bathtubs & Showers
Decking
Flooring
Kitchen Cabinets
Water Pipes
Market
Update
Source: Hanley Wood August 2013 Audience Survey

21. Financial Overview

22. Proven Track Record of Acquisition
Integration / Cost Savings Realization
Acquisition
Synergies
21
Expected Achieved
MW Windows
($331mm)
2004 2005 2006 2007 2008
Alenco
Windows
($127mm)
MHE (Alcoa)
siding business
($296mm)
CT Windows
($37mm)
United Stone
Veneer
($4mm)
Ply Gem
purchased
by CI Capital
Expected Achieved Expected Achieved
2013
Gienow
(CAD$20mm)
Acquisitions
($inmm)
Costsavings
Mitten
(CAD$79mm)
$6.8
$11.0 $4.0 $4.9
$22.0
$55.0
2014
Simonton
($130mm)
2015
Canyon
Stone
($21mm)
Acquisitions provide incremental capabilities and growth along with significant
synergy opportunities

23. Acquisition
Synergies
(1) Improved procurement economics as a result of increased purchasing power
(2) Freight cost maximization and improved fixed overhead as a result of various manufacturing cost reductions from rationalizations
(3) SG&A leverage scale and back office efficiencies
(4) Expand vertical integration efficiency
Impact of Expected Simonton Synergies and Cost Savings
$8 Million Original Savings
Raw material sourcing (1)
$3.6M
Mfg. efficiencies (2)
$2.7M
Insourcing products (4)
$1.5M
SG&A (3)
$0.2M
Simonton Acquisition Synergies
and Cost Savings
$10 Million
Additional Incremental Savings
$2.0M
22

24. Net Sales Adjusted EBITDA
$176
$96
$116 $123 $115
$127
$117 $124
$167
0%
5%
10%
15%
20%
25%
2007 2008 2009 2010 2011 2012 2013 2014 LTM
3Q15
Adj. EBITDA % of Sales
$1,364
$1,175
$951 $996 $1,035
$1,121
$1,366
$1,567
$1,859
0
400
800
1200
1600
2007 2008 2009 2010 2011 2012 2013 2014 LTM
3Q15
Ply Gem sales Single family housing starts
Key Consolidated Financial Performance
($ in mm)($ in mm)
Source: Management, U.S. Census Bureau.
Note: 2Q13 numbers include Gienow and Mitten from date of acquisition. 3Q14 numbers include Simonton from date of acquisition. 2Q15 numbers include Canyon Stone from date of acquisition.
23
Financial
Overview
Consistent Seasonal Adjusted EBITDA Performance
7
15 12
(1) 2
1Q11 1Q12 1Q13 1Q14 1Q15
$44 $45
$41 $44
$63
2Q11 2Q12 2Q13 2Q14 2Q15
$24 $25
$16
$26
4Q11 4Q12 4Q13 4Q14
$40 $42
$48
$55
$77
3Q11 3Q12 3Q13 3Q14 3Q15
% ofnet sales 3.3% 5.1% 4.6% (0.5%) 0.6% 14.5% 14.4% 11.2% 10.8% 12.5% 13.2% 13.3% 11.9% 12.6% 14.4% 9.8% 9.2% 4.8% 5.9%
($ in mm)

25. Ply Gem
38%
CertainTeed
26%
Associated Materials
12%
Exterior/Royal
15%
Kaycan
5%
Other
4%
Ply Gem
14%
Atrium
3%
Other(1)
26%
Pella
16%
Jeld Wen (includes
doors)
13%
Marvin
8%
Anderson
20%
$535
$466
$374
$392
$396
$463
$628
$765
$1,017
(10.0%)
(5.0%)
0.0%
5.0%
10.0%
$0
$200
$400
$600
$800
$1,000
$1,200
2007 2008 2009 2010 2011 2012 2013 2014 LTM 3Q15
Sales Operating earnings margin
Andersen
Pella
Marvin
JELD-WEN
Atrium
Associated Materials
Milgard
Simonton
Windows manufacturers
(all substrates)
Source: Principia Partners 2014 study, management estimates.
One, Integrated Business with Two
Reportable Segments
($ in mm) ($ in mm)
Siding, Fencing, and Stone Windows and Doors
Window Market Share in Units (All Types) - 2013Vinyl Siding Market Share -2013
24
Company
Overview
(1) Includes Associated Materials, Milgard, MI, Weathershield, Windsor, Harvey, Champion, Amsco, Cascade, and Kolbe.
$828
$709
$577
$604 $639 $658
$738
$802
$842
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
$0
$200
$400
$600
$800
$1,000
2007 2008 2009 2010 2011 2012 2013 2014 LTM 3Q15
Sales Operating earnings margin

26. 2014 Cost structure (Net sales – EBITDA)
Variable
80%
Fixed
20%
Materials
54%
Variable
manufacturing
18%
Freight & other
8%
Fixed
20%
Vinyl = 20%
Aluminum = 13%
Other materials = 21%
Highly Efficient, Flexible, Low Cost
Operating Structure
Source: Company filings and management estimates.
25
Company
Overview
Proactively managed cost structure during market cycle

27. $20
$17
$8
$11 $11
$25 $26
$24
$29
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
2007 2008 2009 2010 2011 2012 2013 2014 LTM
3Q15
Capex % of Sales
FCF: Adjusted EBITDA – Capital Expenditures Capital Spending
• Modest capex ~1.5% of sales in LTM 3Q15
• In excess of $290M in available liquidity at 3Q15
• ABL facility successfully amended in November 2015 to
increase the facility from $300M to $350M, and extends the
maturity to 2020
• No near-term maturities, excess cash flow payment under
Term Loan to be made in early 2016
$20
$424
$650
2015 2016 2017 2018 2019 2020 2021 2022
ABL(*) Term Loan Senior Notes
Debt Maturity - 3Q15
Substantial / Sustainable Free Cash Flow
History of strong EBITDA performance, modest capital expenditure requirements and efficient use of working capital 26
Financial
Overview
$156
$80
$108 $112
$103 $103
$91
$101
$138
2007 2008 2009 2010 2011 2012 2013 2014 LTM
3Q15
($ in mm) ($ in mm)
($ in mm)
(*) ABL becomes due / matures November 2020
No near-term maturities

28. Appendix

29. Year Ended December 31
(amounts in thousands) 2007 2008 2009
Net income (loss) $4,982 $(498,475) $(76,752)
Interest expense, net 97,994 137,398 135,303
Benefit for income taxes 3,634 (69,951) (17,966)
Depreciation and amortization 54,067 61,765 56,271
EBITDA $160,677 $(369,263) $96,856
Non cash loss (gain) on foreign currency
transactions
(3,961) 911 (475)
Goodwill impairment - 450,000 -
Intangible asset impairment 4,150 - -
Customer inventory buybacks - 1,890 8,345
Restructuring/integration expense 10,356 10,859 8,992
Non cash charge of purchase price allocated to
inventories
1,289 19 -
Management fees 3,505 1,679 2,497
Adjusted EBITDA $176,016 $96,095 $116,215
Adjusted EBITDA Reconciliation
Appendix
28

30. (amounts in thousands)
Year Ended
December 31,
2010
1Q10 2Q10 3Q10 4Q10
Net income (loss) $27,667 $54,102 $(409) $(6,394) $(19,632)
Interest expense, net 122,833 33,954 30,152 29,752 28,975
Provision (benefit) for income
taxes
5,027 6,532 664 1,332 (3,501)
Depreciation and amortization 60,718 15,454 15,711 15,133 14,420
EBITDA $216,245 $110,042 $46,118 $39,823 $20,262
Non cash loss (gain) on foreign
currency transactions
(510) (104) (122) (104) (180)
Write-off capitalized offering
costs
1,571 1,571
Customer inventory buybacks 574 252 124 117 81
Restructuring/integration
expense
910 106 83 405 316
Loss on modification or
extinguishment of debt
(98,187) (98,187) - - -
Management fee 2,451 200 900 900 451
Adjusted EBITDA $123,054 $12,309 $47,103 $41,141 $22,501
Appendix
29
Adjusted EBITDA Reconciliation

31. (amounts in thousands)
Year Ended
December 31,
2011
1Q11 2Q11 3Q11 4Q11
Net income (loss) $(84,507) $(70,892) $2,063 $(458) $(15,220)
Interest expense, net 101,384 26,424 24,911 25,176 24,873
Provision (benefit) for income
taxes
683 2,472 (959) 466 (1,296)
Depreciation and amortization 54,020 13,690 13,393 13,471 13,466
EBITDA $71,580 $(28,306) $39,408 $38,655 $21,823
Non cash loss (gain) on foreign
currency transactions
(492) (133) (218) (115) (26)
Environmental remediation 1,580 - - - 1,580
Customer inventory buybacks 10,087 6,692 2,971 315 110
Restructuring/integration
expense
1,616 429 477 547 163
Gain on modification or
extinguishment of debt
27,863 27,863 - - -
Management fee 2,267 100 900 800 467
Adjusted EBITDA $114,501 $6,645 $43,538 $40,201 $24,117
Appendix
30
Adjusted EBITDA Reconciliation

32. (amounts in thousands)
Year Ended
December 31,
2012
1Q12 2Q12 3Q12 4Q12
Net income (loss) $(39,055) $(25,642) $5,267 $(3,673) $(15,007)
Interest expense, net 103,042 25,041 25,919 27,526 24,557
Provision (benefit) for income
taxes
2,835 1,872 (204) (89) 1,256
Depreciation and amortization 52,277 13,317 13,189 13,073 12,698
EBITDA $119,099 $14,588 $44,171 $36,837 $23,504
Non cash loss (gain) on foreign
currency transactions
(409) (68) (96) (100) (145)
Customer inventory buybacks 768 445 119 59 144
Restructuring/integration
expense
1,677 - 152 339 1,186
Management fee 2,520 302 902 859 457
Loss on modification or
extinguishment of debt
3,607 - - 3,607 -
Adjusted EBITDA $127,262 $15,267 $45,248 $41,601 $25,146
Appendix
31
Adjusted EBITDA Reconciliation

33. (amounts in thousands)
Year Ended
December 31,
2013
1Q13 2Q13 3Q13 4Q13
Net income (loss) $(79,520) $(28,107) $(50,877) $16,895 $(17,431)
Interest expense, net 91,684 23,653 24,833 21,760 21,438
Provision (benefit) for income taxes 298 3,849 (731) (1,442) (1,378)
Depreciation and amortization 45,646 9,715 11,171 12,097 12,663
EBITDA $58,108 $9,110 $(15,604) $49,310 $15,292
Non cash loss (gain) on foreign
currency transactions
1,533 33 346 376 778
Acquisition costs 1,490 315 1,025 150 -
Customer inventory buybacks 4,837 - 2,172 2,503 162
Restructuring/integration expense 11,759 2,380 1,439 1,529 6,411
Non cash charge of purchase price
allocated to inventories
2,015 - 883 1,132 -
Management fee 410 235 175 - -
Loss on modification or
extinguishment of debt
18,948 - 18,948 - -
Initial public offering costs 23,527 - 23,527 - -
Tax receivable agreement liability
adjustment
(5,167) - 8,143 (6,669) (6,641)
Adjusted EBITDA $117,460 $12,073 $41,054 $48,331 $16,002
Appendix
32
Adjusted EBITDA Reconciliation

34. (amounts in thousands)
Year Ended
December 31,
2014
1Q14 2Q14 3Q14 4Q14
Net income (loss) $(31,269) $(51,578) $11,380 $21,405 $(12,476)
Interest expense, net 71,186 18,494 17,225 16,282 19,185
Provision (benefit) for income
taxes
(105) (12,470) 7,051 (10,514) 15,828
Depreciation and amortization 48,463 11,284 11,254 11,378 14,554
EBITDA $88,275 $(34,270) $46,910 $38,551 $37,091
Non cash loss (gain) on foreign
currency transactions
992 228 (477) 766 475
Acquisition costs 1,188 - - 664 477
Customer inventory buybacks 1,555 123 359 306 767
Restructuring/integration expense 6,493 1,717 1,462 1,067 2,287
Litigation settlement 5,000 5,000 - - -
Loss on modification or
extinguishment of debt
21,364 21,364 - - -
Non cash charge of purchase price
allocated to inventories
38 - - 38 -
Tax receivable agreement liability
adjustment
(670) 4,373 (3,942) 13,988 (15,089)
Adjusted EBITDA $124,235 $(1,465) $44,312 $55,380 $26,008
Appendix
33
Adjusted EBITDA Reconciliation

35. (amounts in thousands) 1Q15 2Q15 3Q15
Net income (loss) $(48,859) $30,372 $41,711
Interest expense, net 19,084 18,682 18,819
Provision (benefit) for income taxes (2,394) (1,482) 2,114
Depreciation and amortization 14,821 14,576 14,911
EBITDA $(17,348) $62,148 $77,555
Non cash loss on foreign currency transactions 934 98 1,069
Acquisition costs 286 339 22
Customer inventory buybacks 52 80 559
Restructuring/integration expense 1,163 1,857 258
Non cash charge of purchase price allocated to inventories - 54 -
Litigation settlement, net - - (1,194)
Tax receivable agreement liability adjustment 17,185 (2,006) (1,712)
Adjusted EBITDA $2,272 $62,570 $76,557
Appendix
34
Adjusted EBITDA Reconciliation