SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

SCHEDULE 13E-3

RULE 13E-3 TRANSACTION STATEMENT

UNDER SECTION 13(E) OF

THE SECURITIES EXCHANGE ACT OF 1934

AMENDMENT NO. 1 

 

 

CORNERSTONE BUILDING BRANDS, INC.

(Name of the Issuer)

 

 

Cornerstone Building Brands, Inc.

Camelot Return Merger Sub, Inc.

Camelot Return Intermediate Holdings, LLC

Camelot Return Holdings, LLC

Camelot Return Parent, LLC

Camelot Return Ultimate, LP

Camelot Return GP, LLC

CD&R Pisces Holdings, L.P.

Clayton, Dubilier & Rice Fund X, L.P.

CD&R Associates X, L.P.

CD&R Investment Associates X , Ltd.

Clayton, Dubilier & Rice Fund VIII, L.P.

CD&R Friends & Family Fund VIII, L.P.

Clayton, Dubilier & Rice, LLC 

(Names of Persons Filing Statement)

 

Common Stock, par value $0.01 per share

(Title of Class of Securities)

 

628852204

(CUSIP Number of Class of Securities)

 

 

Cornerstone Building Brands, Inc.   Camelot Return Intermediate Holdings, LLC
Camelot Return Merger Sub, Inc.
Camelot Return Holdings, LLC
Camelot Return Parent, LLC
Camelot Return Ultimate, LP
Camelot Return GP, LLC
CD&R Pisces Holdings, L.P.
Clayton, Dubilier & Rice Fund X, L.P.
CD&R Associates X, L.P.
CD&R Investment Associates X, Ltd.
Clayton, Dubilier & Rice Fund VIII, L.P.
CD&R Friends & Family Fund VIII, L.P.
Clayton, Dubilier & Rice, LLC
5020 Weston Parkway, Suite 400   c/o Clayton, Dubilier & Rice, LLC
Cary, NC 27513   375 Park Avenue, 18th Floor
(866) 419-0042   New York, NY 10152
Attn: Alena S. Brenner   (212) 407-5227
   

Attn: Rima Simson

 

(Name, Address, and Telephone Numbers of Person Authorized to Receive Notices
and Communications on Behalf of the Persons Filing Statement)

 

With copies to

 

Wachtell, Lipton, Rosen & Katz   Sullivan & Cromwell LLP
51 West 52nd Street   125 Broad Street
New York, NY 10019   New York, NY 10004
(212) 403-1000   (212) 558-4000
Attn: Mark Gordon   Attn: Frank J. Aquila & Melissa Sawyer
     

Kirkland & Ellis LLP

601 Lexington Avenue

New York, NY 10022

(212) 446-4800

Attn: Daniel Wolf, P.C. & David Klein, P.C. &

Lukas Richards

  

Kirkland & Ellis LLP

300 N. LaSalle Street

Chicago, IL 60654

(312) 862-2000

Attn: Richard Campbell, P.C. & Kevin Mausert, P.C.

 

 

This statement is filed in connection with (check the appropriate box):

 

a. x The filing of solicitation materials or an information statement subject to Regulation 14A, Regulation 14C or Rule 13e-3(c) under the Securities Exchange Act of 1934.

b. ¨ The filing of a registration statement under the Securities Act of 1933.

c. ¨ A tender offer.

d. ¨ None of the above.

 

Check the following box if the soliciting materials or information statement referred to in checking box (a) are preliminary copies: x

 

Check the following box if the filing is a final amendment reporting the results of the transaction: ¨

 

CALCULATION OF FILING FEE

 

           
   
Transaction Valuation* Amount of Filing Fee**
$3,262,384,568.25 $302,423.05

 

 

* For purposes of calculating the fee only, this amount is based upon the sum of (a) 127,009,563 shares of common stock of Cornerstone Building Brands, Inc., par value $0.01 per share (the “Shares”), multiplied by $24.65 per Share, (b) stock options to purchase 3,274,744 Shares multiplied by $14.55 per Share (which is the difference between $24.65 and the weighted average exercise price of $10.10 for such Shares), (c) 1,974,983 Shares underlying restricted stock units multiplied by $24.65 per Share and (d) 1,430,621 Shares underlying performance share units multiplied by $24.65 per Share.

 

** Determined by multiplying $3,262,384,568.25 by 0.0000927.

 

x Check Box if any part of the fee is offset as provided by Rule 0-11(a)(2) and identify the filing with which the offsetting fee was previously paid. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.

 

Amount Previously Paid: $302,423.05

Form or Registration No.: Schedule 14A (File No. 001-14315)

Filing Party: Cornerstone Building Brands, Inc.

Date Filed: April 7, 2022

 

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of this transaction, passed upon the merits or fairness of this transaction or passed upon the adequacy or accuracy of the disclosure in this document. Any representation to the contrary is a criminal offense.

 

 

 

 

 

 

Introduction

 

This Amendment No. 1 to the Transaction Statement on Schedule 13E-3 (as originally filed on April 7, 2022, and together with all exhibits thereto and hereto, this “Amended Transaction Statement”) is being filed with the U.S. Securities and Exchange Commission (the “SEC”) pursuant to Section 13(e) of the Securities Exchange Act of 1934, as amended (together with the rules and regulations promulgated thereunder, the “Exchange Act”), by (1) Cornerstone Building Brands, Inc. (“Cornerstone Building Brands” or the “Company”); (2) Camelot Return Intermediate Holdings, LLC, a Delaware limited liability company (“Parent”), (3) Camelot Return Merger Sub, Inc. (“Merger Sub”), a Delaware corporation, (4) Camelot Return Holdings, LLC, a Delaware limited liability company, (5) Camelot Return Parent, LLC, a Delaware limited liability company, (6) Camelot Return Ultimate, LP, a Delaware limited partnership, (7) Camelot Return GP, LLC, a Delaware limited liability company, (8) CD&R Pisces Holdings, L.P., a Cayman Islands exempted limited partnership, (9) Clayton, Dubilier & Rice Fund X, L.P., a Cayman Islands exempted limited partnership, (10) CD&R Associates X, L.P., a Cayman Islands exempted limited partnership, (11) CD&R Investment Associates X, Ltd., a Cayman Islands exempted company, (12) Clayton, Dubilier & Rice Fund VIII, L.P., a Cayman Islands exempted limited partnership, (13) CD&R Friends & Family Fund VIII, L.P., a Cayman Islands exempted limited partnership, and (14) Clayton, Dubilier & Rice, LLC, a Delaware limited liability company (each of (1) through (14) a “Filing Person,” and collectively, the “Filing Persons”). Parent and Merger Sub are subsidiaries of investment funds managed by Clayton, Dubilier & Rice, LLC (“CD&R”), who, together with its affiliates, owns approximately 49% of the issued and outstanding shares of common stock, par value $0.01 per share, of the Company (which we refer to as a “share” or, collectively, “shares”).

 

This Amended Transaction Statement relates to the Agreement and Plan of Merger, dated as of March 5, 2022 (as it may be amended from time to time, the “merger agreement”), by and among the Company, Parent and Merger Sub. In connection with the merger agreement, an affiliate of CD&R has provided a limited guarantee (as amended from time to time, the “limited guarantee”) with respect to the payment of a termination fee that may be payable by Parent to the Company under the merger agreement, as well as certain reimbursement obligations that may be owed by Parent pursuant to the merger agreement, in each case, subject to the terms of the merger agreement and the limited guarantee.

 

If the merger agreement is adopted by the Company’s stockholders and the other conditions under the merger agreement are either satisfied or waived, Merger Sub will be merged with and into the Company (which we refer to as the “merger”), the separate corporate existence of Merger Sub will cease and the Company will continue its corporate existence under Delaware law as the surviving corporation in the merger (the “Surviving Corporation”) and as a subsidiary of Parent. Upon completion of the merger, each share of Company common stock outstanding immediately prior to the effective time of the merger (other than (1) shares of Company common stock that are to be cancelled or converted into shares of common stock of the Surviving Corporation in accordance with the merger agreement and (2) shares of Company common stock that are owned by stockholders of the Company (other than CD&R, certain investment funds managed by CD&R and other affiliates of CD&R that hold shares of Company common stock, which we refer to as the “affiliated stockholders”) who did not vote in favor of the merger agreement or the merger and who have perfected and not withdrawn a demand for appraisal rights pursuant to Section 262 of the General Corporation Law of the State of Delaware), will be converted into the right to receive $24.65 in cash per share, without interest (the “merger consideration”). Following the completion of the merger, the shares of Company common stock will no longer be publicly traded, and holders of such shares of Company common stock that have been converted into the right to receive the merger consideration will cease to have any ownership interest in the Company.

 

Concurrently with the filing of this Amended Transaction Statement, the Company is filing with the SEC a proxy statement (the “Proxy Statement”) under Regulation 14A of the Exchange Act, pursuant to which the Company’s board of directors (the “Board”) is soliciting proxies from stockholders of the Company in connection with the merger. The Proxy Statement is attached hereto as Exhibit (a)(1). A copy of the merger agreement is attached to the Proxy Statement as Annex A and is incorporated herein by reference. As of the date hereof, the Proxy Statement is in preliminary form, and is subject to completion or amendment. Terms used but not defined in this Amended Transaction Statement have the meanings assigned to them in the Proxy Statement.

 

The special committee (the “Special Committee”) of the Board, consisting solely of the Company’s independent directors who are independent of, and not affiliated with, CD&R or its affiliates, evaluated the merger in consultation with the Company’s management and legal and financial advisors, and unanimously (1) determined that the terms of the merger agreement, the voting and support agreement, dated as of March 5, 2022, by and among the Company and affiliates of Parent, including CD&R, which we refer to as the “voting and support agreement,” the limited guarantee and the transactions contemplated by the merger agreement, the voting and support agreement and the limited guarantee (the “transaction”), including the merger, are fair to, and in the best interests of, the Company and its stockholders other than the affiliated stockholders, which stockholders we refer to as the “unaffiliated stockholders,” (2) determined that it is advisable and in the best interests of the Company and the unaffiliated stockholders to enter into the merger agreement, the voting and support agreement and the limited guarantee and (3) recommended that the Board approve and authorize the merger agreement, the voting and support agreement, the limited guarantee and the transaction.

 

2

 

 

Pursuant to General Instruction F to Schedule 13E-3, the information in the Proxy Statement, including all annexes thereto, is expressly incorporated by reference herein in its entirety, and responses to each item herein are qualified in their entirety by the information contained in the Proxy Statement. The cross-references below are being supplied pursuant to General Instruction G to Schedule 13E-3 and show the location in the Proxy Statement of the information required to be included in response to the items of Schedule 13E-3.

 

While each of the Filing Persons acknowledges that the merger is a going private transaction for purposes of Rule 13e-3 under the Exchange Act, the filing of this Amended Transaction Statement shall not be construed as an admission by any Filing Person, or by any affiliate of a Filing Person, that the Company is “controlled” by any of the Filing Persons and/or their respective affiliates.

 

All information contained in, or incorporated by reference into, this Amended Transaction Statement concerning each Filing Person has been supplied by such Filing Person.

 

Item 1. Summary Term Sheet

Regulation M-A Item 1001

 

The information set forth in the Proxy Statement under the following captions is incorporated herein by reference:

 

“Summary Term Sheet”

 

“Questions and Answers About the Special Meeting and the Merger”

 

Item 2. Subject Company Information

Regulation M-A Item 1002

 

(a) Name and address. Cornerstone Building Brands’ name, and the address and telephone number of its principal executive offices are:

 

Cornerstone Building Brands, Inc.

5020 Weston Parkway, Suite 400

Cary, NC 27513

(866) 419-0042

 

(b) Securities. The information set forth in the Proxy Statement under the following captions is incorporated herein by reference:

 

“Questions and Answers About the Special Meeting and the Merger—How many votes do I have?”

 

“The Special Meeting—Record Date and Quorum”

 

(c) Trading market and price. The information set forth in the Proxy Statement under the following caption is incorporated herein by reference:

 

“Other Important Information Regarding the Company—Market Price of Common Stock and Dividends”

 

(d) Dividends. The information set forth in the Proxy Statement under the following caption is incorporated herein by reference:

 

“Other Important Information Regarding the Company—Market Price of Common Stock and Dividends”

 

“The Merger Agreement—Conduct of Our Business Pending the Merger”

 

(e) Prior public offerings. The information set forth in the Proxy Statement under the following caption is incorporated herein by reference:

 

“Other Important Information Regarding the Company—Prior Public Offerings”

 

(f) Prior stock purchases. The information set forth in the Proxy Statement under the following captions is incorporated herein by reference:

 

“Other Important Information Regarding the Company—Certain Transactions in the Shares of Common Stock”

 

3

 

 

Item 3. Identity and Background of Filing Person

Regulation M-A Item 1003

 

The information set forth in the Proxy Statement under the following captions is incorporated herein by reference:

 

(a) – (b) Name and Address of Each Filing Person; Business and Background of Entities.

 

“Summary Term Sheet—Parties to the Merger”

 

“Parties to the Merger”

 

“Other Important Information Regarding the Company—Directors and Executive Officers of the Company”

 

“Other Important Information Regarding the CD&R Entities”

 

“Where You Can Find More Information”

 

(c) Business and Background of Natural Persons.

 

“Other Important Information Regarding the Company—Directors and Executive Officers of the Company”

 

“Other Important Information Regarding the CD&R Entities”

 

“Where You Can Find More Information”

 

Item 4. Terms of the Transaction

Regulation M-A Item 1004

 

(a) Material terms.

 

(1) Tender offer. Not applicable

 

(2) Merger or Similar Transactions.

 

(i) The information set forth in the Proxy Statement under the following captions is incorporated herein by reference:

 

“Summary Term Sheet”

 

“Special Factors—Background of the Merger”

 

“Special Factors—Effective Time of the Merger”

 

“Special Factors—Payment of Merger Consideration”

 

“The Merger Agreement—Conditions to the Merger”

 

(ii) The information set forth in the Proxy Statement under the following captions is incorporated herein by reference:

 

“Summary Term Sheet”

 

“Special Factors—Payment of Merger Consideration”

 

“The Merger Agreement—Treatment of Common Stock and Company Equity Awards”

 

4

 

 

(iii) The information set forth in the Proxy Statement under the following captions is incorporated herein by reference:

 

“Special Factors—Reasons for the Merger; Recommendation of the Board; Fairness of the Merger”

 

“Special Factors—Position of Parent and Merger Sub as to the Fairness of the Merger”

 

“Special Factors—Purpose and Reasons of the Company for the Merger”

 

“Special Factors—Purpose and Reasons of the CD&R Entities for the Merger”

 

“Special Factors—Opinion of Centerview Partners LLC”

 

“Special Factors—Unaudited Prospective Financial Information of the Company”

 

(iv) The information set forth in the Proxy Statement under the following captions is incorporated herein by reference:

 

“The Merger Agreement—Stockholders Meeting”

 

“The Special Meeting—Vote Required”

 

(v) The information set forth in the Proxy Statement under the following caption is incorporated herein by reference:

 

“Summary Term Sheet”

 

“Special Factors—Certain Effects of the Merger”

 

(vi) The information set forth in the Proxy Statement under the following caption is incorporated herein by reference:

 

“Special Factors—Accounting Treatment”

 

(vii) The information set forth in the Proxy Statement under the following caption is incorporated herein by reference:

 

“Special Factors—Material U.S. Federal Income Tax Consequences of the Merger”

 

(c) Different terms. The information set forth in the Proxy Statement under the following captions is incorporated herein by reference:

 

“Summary Term Sheet”

 

“Questions and Answers About the Special Meeting and the Merger”

 

“Special Factors—Certain Effects of the Merger”

 

“Special Factors—Interests of Executive Officers and Directors of the Company in the Merger”

 

“The Merger Agreement—Treatment of Common Stock and Company Equity Awards”

 

“The Voting and Support Agreement”

 

(d) Appraisal rights. The information set forth in the Proxy Statement under the following captions is incorporated herein by reference:

 

“Questions and Answers About the Special Meeting and the Merger”

 

“Special Factors—Appraisal Rights”

 

(e) Provisions for unaffiliated security holders. The information set forth in the Proxy Statement under the following caption is incorporated herein by reference:

 

“Special Factors—Provisions for Unaffiliated Stockholders”

 

(f) Eligibility for listing or trading. Not applicable.

 

5

 

 

Item 5. Past Contacts, Transactions, Negotiations and Agreements

Regulation M-A Item 1005

 

(a)(1) – (2) Transactions. The information set forth in the Proxy Statement under the following captions is incorporated herein by reference:

 

“Summary Term Sheet”

 

“Special Factors—Background of the Merger”

 

“Special Factors—Certain Effects of the Merger”

 

“Special Factors—Interests of Executive Officers and Directors of the Company in the Merger”

 

“The Merger Agreement—Treatment of Common Stock and Company Equity Awards”

 

“Other Important Information Regarding the Company—Certain Transactions in the Shares of Common Stock”

 

(b) – (c) Significant corporate events; Negotiations or contacts. The information set forth in the Proxy Statement under the following captions is incorporated herein by reference:

 

“Summary Term Sheet”

 

“Special Factors—Background of the Merger”

 

“Special Factors—Reasons for the Merger; Recommendation of the Board; Fairness of the Merger”

 

“Special Factors—Position of Parent and Merger Sub as to the Fairness of the Merger”

 

“Special Factors—Purpose and Reasons of the Company for the Merger”

 

“Special Factors—Purpose and Reasons of the CD&R Entities for the Merger”

 

 

“Special Factors—Interests of Executive Officers and Directors of the Company in the Merger”

 

“Special Factors—Financing of the Merger”

 

“Special Factors—Limited Guarantee”

 

“The Merger Agreement”

 

“The Voting and Support Agreement”

 

Annex A—Agreement and Plan of Merger, dated as of March 5, 2022, by and among Camelot Return Intermediate Holdings, LLC, Camelot Return Merger Sub, Inc., and Cornerstone Building Brands, Inc.

 

Annex D—Voting and Support Agreement, dated as of March 5, 2022 by and among Cornerstone Building Brands, Inc., CD&R Pisces Holdings, L.P., Clayton, Dubilier & Rice Fund VIII, L.P., CD&R Friends & Family Fund VIII, L.P. and Clayton, Dubilier & Rice, LLC, and, solely for the purposes set forth therein, Clayton, Dubilier & Rice Fund X, L.P.

 

(e) Agreements involving the subject company’s securities. The information set forth in the Proxy Statement under the following captions is incorporated herein by reference:

 

“Summary Term Sheet”

 

“Questions and Answers About the Special Meeting and the Merger”

 

“Special Factors—Background of the Merger”

 

“Special Factors—Plans for the Company After the Merger”

 

“Special Factors—Financing of the Merger”

 

6 

 

“Special Factors—Limited Guarantee”

 

“The Merger Agreement”

 

“The Voting and Support Agreement”

 

“The Special Meeting—Vote Required”

 

“Other Important Information Regarding the Company—Certain Transactions in the Shares of Common Stock”

 

Annex A—Agreement and Plan of Merger, dated as of March 5, 2022, by and among Camelot Return Intermediate Holdings, LLC, Camelot Return Merger Sub, Inc., and Cornerstone Building Brands, Inc.

 

Annex D—Voting and Support Agreement, dated as of March 5, 2022 by and among Cornerstone Building Brands, Inc., CD&R Pisces Holdings, L.P., Clayton, Dubilier & Rice Fund VIII, L.P., CD&R Friends & Family Fund VIII, L.P. and Clayton, Dubilier & Rice, LLC, and, solely for the purposes set forth therein, Clayton, Dubilier & Rice Fund X, L.P.

 

Item 6. Purposes of the Transaction, and Plans or Proposals.

Regulation M-A Item 1006

 

(b) Use of securities acquired. The information set forth in the Proxy Statement under the following captions is incorporated herein by reference:

 

“Summary Term Sheet”

 

“Special Factors—Plans for the Company After the Merger”

 

“Special Factors—Certain Effects of the Merger”

 

“Special Factors—Certain Effects of the Merger for Parent”

 

“Special Factors—Certain Effects on the Company if the Merger Is Not Completed”

 

“Special Factors—Payment of Merger Consideration”

 

“Special Factors—Interests of Executive Officers and Directors of the Company in the Merger”

 

“Other Important Information Regarding the Company—Market Price of Common Stock and Dividends”

 

“Delisting and Deregistration of Common Stock”

 

(c)(1) – (8) Plans. The information set forth in the Proxy Statement under the following captions is incorporated herein by reference:

 

“Summary Term Sheet”

 

“Questions and Answers About the Special Meeting and the Merger”

 

“Special Factors—Background of the Merger”

 

“Special Factors—Reasons for the Merger; Recommendation of the Board; Fairness of the Merger”

 

“Special Factors—Position of Parent and Merger Sub as to the Fairness of the Merger”

 

“Special Factors—Purpose and Reasons of the Company for the Merger”

 

“Special Factors—Purpose and Reasons of the CD&R Entities for the Merger”

 

“Special Factors—Plans for the Company After the Merger”

 

“Special Factors—Recent Developments”

 

“Special Factors—Certain Effects of the Merger”

 

7 

 

“Special Factors—Certain Effects of the Merger for Parent”

 

“Special Factors—Certain Effects on the Company if the Merger Is Not Completed”

 

“Special Factors—Interests of Executive Officers and Directors of the Company in the Merger”

 

“Special Factors—Financing of the Merger”

 

“Special Factors—Limited Guarantee”

 

“Voting and Support Agreement”

 

“The Merger Agreement—Effects of the Merger; Directors and Officers; Articles of Incorporation; Bylaws”

 

“The Merger Agreement—Treatment of Common Stock and Company Equity Awards”

 

“The Merger Agreement—Conduct of Our Business Pending the Merger”

 

“Other Important Information Regarding the Company—Market Price of Common Stock and Dividends”

 

“Other Important Information Regarding the Company—Directors and Executive Officers of the Company”

 

“Delisting and Deregistration of Common Stock”

 

Annex A—Agreement and Plan of Merger, dated as of March 5, 2022, by and among Camelot Return Intermediate Holdings, LLC, Camelot Return Merger Sub, Inc., and Cornerstone Building Brands, Inc.

 

Item 7. Purposes, Alternatives, Reasons and Effects

Regulation M-A Item 1013

 

(a) Purposes. The information set forth in the Proxy Statement under the following captions is incorporated herein by reference:

 

“Summary Term Sheet”

 

“Special Factors—Background of the Merger”

 

“Special Factors—Reasons for the Merger; Recommendation of the Board; Fairness of the Merger”

 

“Special Factors—Position of the CD&R Entities as to the Fairness of the Merger”

 

“Special Factors—Purpose and Reasons of the Company for the Merger”

 

“Special Factors—Purpose and Reasons of the CD&R Entities for the Merger”

 

“Special Factors—Plans for the Company After the Merger”

 

“Special Factors—Certain Effects of the Merger”

 

(b) Alternatives. The information set forth in the Proxy Statement under the following captions is incorporated herein by reference:

 

“Special Factors—Background of the Merger”

 

“Special Factors—Reasons for the Merger; Recommendation of the Board; Fairness of the Merger”

 

“Special Factors—Position of the CD&R Entities as to the Fairness of the Merger”

 

“Special Factors—Purpose and Reasons of the Company for the Merger”

 

“Special Factors—Purpose and Reasons of the CD&R Entities for the Merger”

 

“Special Factors—Opinion of Centerview Partners LLC”

 

8 

 

(c) Reasons. The information set forth in the Proxy Statement under the following captions is incorporated herein by reference:

 

“Special Factors—Background of the Merger”

 

“Special Factors—Reasons for the Merger; Recommendation of the Board; Fairness of the Merger”

 

“Special Factors—Position of the CD&R Entities as to the Fairness of the Merger”

 

“Special Factors—Purpose and Reasons of the Company for the Merger”

 

“Special Factors—Purpose and Reasons of the CD&R Entities for the Merger”

 

“Special Factors—Opinion of Centerview Partners LLC”

 

“Special Factors—Unaudited Prospective Financial Information of the Company”

 

“Special Factors—Certain Effects of the Merger”

 

Annex B – Opinion of Centerview Partners LLC

 

(d) Effects. The information set forth in the Proxy Statement under the following captions is incorporated herein by reference:

 

“Summary Term Sheet”

 

“Special Factors—Background of the Merger”

 

“Special Factors—Reasons for the Merger; Recommendation of the Board; Fairness of the Merger”

 

“Special Factors—Position of the CD&R Entities as to the Fairness of the Merger”

 

“Special Factors—Purpose and Reasons of the Company for the Merger”

 

“Special Factors—Purpose and Reasons of the CD&R Entities for the Merger”

 

“Special Factors—Plans for the Company After the Merger”

 

“Special Factors—Certain Effects of the Merger”

 

“Special Factors—Certain Effects of the Merger for Parent”

 

“Special Factors—Certain Effects on the Company if the Merger Is Not Completed”

 

“Special Factors—Interests of Executive Officers and Directors of the Company in the Merger”

 

“Special Factors—Material U.S. Federal Income Tax Consequences of the Merger”

 

“Special Factors—Accounting Treatment”

 

“Special Factors—Financing of the Merger”

 

“Special Factors—Fees and Expenses”

 

“Special Factors—Payment of Merger Consideration”

 

“The Merger Agreement—Effects of the Merger; Directors and Officers; Articles of Incorporation; Bylaws”

 

“The Merger Agreement—Treatment of Common Stock and Company Equity Awards”

 

“The Merger Agreement—Conduct of Our Business Pending the Merger”

 

“Other Important Information Regarding the Company—Market Price of Common Stock and Dividends”

 

“Delisting and Deregistration of Common Stock”

 

Annex A—Agreement and Plan of Merger, dated as of March 5, 2022, by and among Camelot Return Intermediate Holdings, LLC, Camelot Return Merger Sub, Inc., and Cornerstone Building Brands, Inc.

 

9 

 

 

Item 8. Fairness of the Transaction

Regulation M-A Item 1014

 

(a) – (b) Fairness; Factors considered in determining fairness. The information set forth in the Proxy Statement under the following captions is incorporated herein by reference:

 

“Summary Term Sheet”

 

“Special Factors—Background of the Merger”

 

“Special Factors—Reasons for the Merger; Recommendation of the Board; Fairness of the Merger”

 

“Special Factors—Position of the CD&R Entities as to the Fairness of the Merger”

 

“Special Factors—Opinion of Centerview Partners LLC”

 

“Special Factors—Purpose and Reasons of the Company for the Merger”

 

“Special Factors—Purpose and Reasons of the CD&R Entities for the Merger”

 

“Special Factors—Certain Effects of the Merger”

 

Annex B—Opinion of Centerview Partners LLC

 

Discussion Materials of Centerview Partners LLC for the Special Committee, dated October 25, 2021, are attached hereto as Exhibit (c)(1) and are incorporated herein by reference.

 

Discussion Materials of Centerview Partners LLC for the Special Committee, dated November 23, 2021, are attached hereto as Exhibit (c)(2) and are incorporated herein by reference.

 

Discussion Materials of Centerview Partners LLC for the Special Committee, dated December 14, 2021, are attached hereto as Exhibit (c)(3) and are incorporated herein by reference.

 

Discussion Materials of Centerview Partners LLC for the Special Committee, dated January 7, 2022, are attached hereto as Exhibit (c)(4) and are incorporated herein by reference.

 

Discussion Materials of Centerview Partners LLC for the Special Committee, dated February 9, 2022, are attached hereto as Exhibit (c)(5) and are incorporated herein by reference.

 

Discussion Materials of Centerview Partners LLC for the Special Committee, dated February 11, 2022, are attached hereto as Exhibit (c)(6) and are incorporated herein by reference.

 

Discussion Materials of Centerview Partners LLC for the Special Committee, dated March 5, 2022, are attached hereto as Exhibit (c)(7) and are incorporated herein by reference.

 

Discussion Materials of Centerview Partners LLC for the Board, dated March 5, 2022, are attached hereto as Exhibit (c)(8) and are incorporated herein by reference.

 

(c) Approval of security holders. The information set forth in the Proxy Statement under the following captions is incorporated herein by reference:

 

“Summary Term Sheet”

 

“Questions and Answers About the Special Meeting and the Merger”

 

“Special Factors—Reasons for the Merger; Recommendation of the Board; Fairness of the Merger”

 

“Special Factors—Position of the CD&R Entities as to the Fairness of the Merger”

 

“The Merger Agreement—Stockholders Meeting”

 

“The Merger Agreement—Conditions to the Merger”

 

“The Special Meeting”

 

Annex A—Agreement and Plan of Merger, dated as of March 5, 2022, by and among Camelot Return Intermediate Holdings, LLC, Camelot Return Merger Sub, Inc., and Cornerstone Building Brands, Inc.

 

 10 

 

 

(d) Unaffiliated representative. The information set forth in the Proxy Statement under the following captions is incorporated herein by reference:

 

“Special Factors—Background of the Merger”

 

“Special Factors—Reasons for the Merger; Recommendation of the Board; Fairness of the Merger”

 

“Special Factors—Position of the CD&R Entities as to the Fairness of the Merger”

 

“Special Factors—Purpose and Reasons of the Company for the Merger”

 

“Special Factors—Provisions for Unaffiliated Shareholders”

 

(e) Approval of directors. The information set forth in the Proxy Statement under the following captions is incorporated herein by reference:

 

“Special Factors—Background of the Merger”

 

“Special Factors—Reasons for the Merger; Recommendation of the Board; Fairness of the Merger”

 

“Special Factors—Purpose and Reasons of the Company for the Merger”

 

“Special Factors—Position of the CD&R Entities as to the Fairness of the Merger”

 

“Special Factors—Opinion of Centerview Partners LLC”

 

“Special Factors—Interests of Executive Officers and Directors of the Company in the Merger”

 

“The Merger (The Merger Agreement Proposal—Proposal 1)”

 

(f) Other offers. Not applicable.

 

Item 9. Reports, Opinions, Appraisals and Negotiations

Regulation M-A Item 1015

 

(a) – (c) Report, opinion or appraisal; Preparer and summary of the report, opinion or appraisal; Availability of documents. The information set forth in the Proxy Statement under the following captions is incorporated herein by reference:

 

“Summary Term Sheet”

 

“Special Factors—Background of the Merger”

 

“Special Factors—Reasons for the Merger; Recommendation of the Board; Fairness of the Merger”

 

“Special Factors—Position of the CD&R Entities as to the Fairness of the Merger”

 

“Special Factors—Purpose and Reasons of the Company for the Merger”

 

“Special Factors—Opinion of Centerview Partners LLC”

 

“Where You Can Find More Information”

 

Annex B—Opinion of Centerview Partners LLC

 

Discussion Materials of Centerview Partners LLC for the Special Committee, dated October 25, 2021, are attached hereto as Exhibit (c)(1) and are incorporated herein by reference.

 

Discussion Materials of Centerview Partners LLC for the Special Committee, dated November 23, 2021, are attached hereto as Exhibit (c)(2) and are incorporated herein by reference.

 

Discussion Materials of Centerview Partners LLC for the Special Committee, dated December 14, 2021, are attached hereto as Exhibit (c)(3) and are incorporated herein by reference.

 

Discussion Materials of Centerview Partners LLC for the Special Committee, dated January 7, 2022, are attached hereto as Exhibit (c)(4) and are incorporated herein by reference.

 

 11 

 

 

Discussion Materials of Centerview Partners LLC for the Special Committee, dated February 9, 2022, are attached hereto as Exhibit (c)(5) and are incorporated herein by reference.

 

Discussion Materials of Centerview Partners LLC for the Special Committee, dated February 11, 2022, are attached hereto as Exhibit (c)(6) and are incorporated herein by reference.

 

Discussion Materials of Centerview Partners LLC for the Special Committee, dated March 5, 2022, are attached hereto as Exhibit (c)(7) and are incorporated herein by reference.

 

Discussion Materials of Centerview Partners LLC for the Board, dated March 5, 2022, are attached hereto as Exhibit (c)(8) and are incorporated herein by reference.

  

The reports, opinions or appraisals referenced in this Item 9 will be made available for inspection and copying at the principal executive offices of Cornerstone Building Brands during its regular business hours by any interested equity security holder of Cornerstone Building Brands or representative who has been so designated in writing.

 

Item 10. Source and Amounts of Funds or Other Consideration

Regulation M-A Item 1007

 

(a) – (b) Source of funds; Conditions. The information set forth in the Proxy Statement under the following caption is incorporated herein by reference:

 

“Summary Term Sheet”

 

“Special Factors—Financing of the Merger”

 

“Special Factors—Limited Guarantee”

 

“The Merger Agreement—Financing; Cooperation with Debt Financing”

 

Debt Commitment Letter, dated March 5, 2022, by and among Camelot Return Merger Sub, Inc. and Deutsche Bank AG New York Branch, Deutsche Bank AG Cayman Islands Branch, Deutsche Bank Securities Inc., UBS AG, Stamford Branch, UBS Securities LLC, Barclays Bank PLC, BNP Paribas, BNP Paribas Securities Corp., Royal Bank of Canada, RBC Capital Markets, Société Générale, Goldman Sachs Bank USA, Natixis, New York Branch, Jefferies Finance LLC, Apollo Global Funding, LLC, Apollo Capital Management, L.P., on behalf of one or more funds, accounts, or other clients managed by it or its affiliates, U.S. Bank National Association and Blackstone Alternative Credit Advisors LP, is attached hereto as Exhibit (b)(1) and is incorporated herein by reference.

 

Debt Commitment Letter, dated March 5, 2022, by and among Camelot Return Holdings, LLC and Deutsche Bank AG Cayman Islands Branch, Deutsche Bank Securities Inc., UBS AG, Stamford Branch, UBS Securities LLC, Barclays Bank PLC, BNP Paribas, BNP Paribas Securities Corp., Royal Bank of Canada, RBC Capital Markets, Société Générale, Goldman Sachs Bank USA, Natixis, New York Branch, Jefferies Finance LLC and Arawak X, L.P., is attached hereto as Exhibit (b)(2) and is incorporated herein by reference.

 

Equity Commitment Letter, dated March 5, 2022, by and between Clayton, Dubilier & Rice Fund X, L.P. and Camelot Return Intermediate Holdings, LLC., is attached hereto as Exhibit (b)(3) and is incorporated herein by reference.

 

(c) Expenses. The information set forth in the Proxy Statement under the following captions is incorporated herein by reference:

 

 

“Summary Term Sheet”

 

“Special Factors—Fees and Expenses”

 

“The Merger Agreement—Termination”

 

“The Merger Agreement—Company Termination Fee”

 

“The Merger Agreement—Parent Termination Fee”

 

“The Merger Agreement—Expenses”

 

 12 

 

 

(d) Borrowed funds. The information set forth in the Proxy Statement under the following captions is incorporated herein by reference:

 

“Special Factors—Financing of the Merger”

 

“The Merger Agreement—Financing; Cooperation with Debt Financing”

 

Debt Commitment Letter, dated March 5, 2022, by and between Camelot Return Merger Sub, Inc. and Deutsche Bank AG New York Branch, Deutsche Bank AG Cayman Islands Branch, Deutsche Bank Securities Inc., UBS AG, Stamford Branch, UBS Securities LLC, Barclays Bank PLC, BNP Paribas, BNP Paribas Securities Corp., Royal Bank of Canada, RBC Capital Markets, Société Générale, Goldman Sachs Bank USA, Natixis, New York Branch, Jefferies Finance LLC, Apollo Global Funding, LLC, Apollo Capital Management, L.P., on behalf of one or more funds, accounts, or other clients managed by it or its affiliates, U.S. Bank National Association and Blackstone Alternative Credit Advisors LP, is attached hereto as Exhibit (b)(1) and is incorporated herein by reference.

 

Debt Commitment Letter, dated March 5, 2022, by and between Camelot Return Holdings, LLC and Deutsche Bank AG Cayman Islands Branch, Deutsche Bank Securities Inc., UBS AG, Stamford Branch, UBS Securities LLC, Barclays Bank PLC, BNP Paribas, BNP Paribas Securities Corp., Royal Bank of Canada, RBC Capital Markets, Société Générale, Goldman Sachs Bank USA, Natixis, New York Branch, Jefferies Finance LLC and Arawak X, L.P., is attached hereto as Exhibit (b)(2) and is incorporated herein by reference.

 

Equity Commitment Letter, dated March 5, 2022, by and between Clayton, Dubilier & Rice Fund X, L.P. and Camelot Return Intermediate Holdings, LLC., is attached hereto as Exhibit (b)(3) and is incorporated herein by reference.

 

Item 11. Interest in Securities of the Subject Company

Regulation M-A Item 1008

 

(a) Securities ownership. The information set forth in the Proxy Statement under the following captions is incorporated herein by reference:

 

“Special Factors—Interests of Executive Officers and Directors of the Company in the Merger”

 

“Other Important Information Regarding the Company—Security Ownership of Certain Beneficial Owners and Management”

 

(b) Securities transactions. The information set forth in the Proxy Statement under the following captions is incorporated herein by reference:

 

“Other Important Information Regarding the Company—Certain Transactions in the Shares of Common Stock”

 

Item 12. The Solicitation or Recommendation

Regulation M-A Item 1012

 

(d) Intent to tender or vote in a going-private transaction. The information set forth in the Proxy Statement under the following captions is incorporated herein by reference:

 

“Summary Term Sheet”

 

“Questions and Answers About the Special Meeting and the Merger”

 

“Special Factors—Reasons for the Merger; Recommendation of the Board; Fairness of the Merger”

 

“Special Factors—Position of the CD&R Entities as to the Fairness of the Merger”

 

“Special Factors—Purpose and Reasons of the Company for the Merger”

 

“Special Factors—Purpose and Reasons of the CD&R Entities for the Merger”

 

“Special Factors—Intent to Vote in Favor of the Merger”

 

“Special Factors—CD&R’s Obligation to Vote in Favor of the Merger”

 

“The Merger Agreement—CD&R Vote”

 

 13 

 

 

“The Special Meeting—Vote Required”

 

“Voting and Support Agreement”

 

Annex D—Voting and Support Agreement, dated as of March 5, 2022 by and among Cornerstone Building Brands, Inc., CD&R Pisces Holdings, L.P., Clayton, Dubilier & Rice Fund VIII, L.P., CD&R Friends & Family Fund VIII, L.P. and Clayton, Dubilier & Rice, LLC, and, solely for the purposes set forth therein, Clayton, Dubilier & Rice Fund X, L.P.

 

(e) Recommendation of others. The information set forth in the Proxy Statement under the following captions is incorporated herein by reference:

 

“Summary Term Sheet”

 

“Questions and Answers About the Special Meeting and the Merger”

 

“Special Factors—Background of the Merger”

 

“Special Factors—Reasons for the Merger; Recommendation of the Board; Fairness of the Merger”

 

“Special Factors—Position of the CD&R Entities as to the Fairness of the Merger”

 

“Special Factors—Purpose and Reasons of the Company for the Merger”

 

“Special Factors—Purpose and Reasons of the CD&R Entities for the Merger”

 

Item 13. Financial Information

Regulation M-A Item 1010

 

(a) Financial statements. The audited consolidated financial statements of the Company for the fiscal years ended December 31, 2021 and 2020 are incorporated herein by reference to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2021, filed on March 1, 2022 and the unaudited consolidated financial statements of the Company for the quarterly period ended April 2, 2022 are incorporated herein by reference to the Company’s Quarterly Report on Form 10-Q for the quarterly period ended April 2, 2022, filed on May 3, 2022 (see “Item 8. Financial Statements and Supplementary Data” beginning on page 49).

 

The information set forth in the Proxy Statement under the following captions is incorporated herein by reference:

 

“Special Factors—Certain Effects of the Merger”

 

“Special Factors—Unaudited Prospective Financial Information of the Company”

 

“Other Important Information Regarding the Company—Book Value per Share”

 

“Where You Can Find More Information”

 

(b) Pro forma information. The information set forth in the Proxy Statement under the following caption is incorporated herein by reference:

 

“Special Factors—Unaudited Prospective Financial Information of the Company”

 

Item 14. Persons/Assets, Retained, Employed, Compensated or Used

Regulation M-A Item 1009

 

(a) – (b) Solicitations or recommendations; Employees and corporate assets. The information set forth in the Proxy Statement under the following captions is incorporated herein by reference:

 

“Summary Term Sheet”

 

“Questions and Answers About the Special Meeting and the Merger”

 

“Special Factors—Background of the Merger”

 

“Special Factors—Reasons for the Merger; Recommendation of the Board; Fairness of the Merger”

 

“Special Factors—Purpose and Reasons of the Company for the Merger”

 

“Special Factors—Fees and Expenses”

 

“Special Factors—Interests of Executive Officers and Directors of the Company in the Merger”

 

“The Special Meeting—Solicitation of Proxies; Payment of Solicitation Expenses”

 

 14 

 

 

Item 15. Additional Information

Regulation M-A Item 1011

 

(b) Golden Parachute Compensation. The information set forth in the Proxy Statement under the following captions is incorporated herein by reference:

 

“Summary Term Sheet”

 

“Special Factors—Certain Effects of the Merger”

 

“Special Factors—Interests of Executive Officers and Directors of the Company in the Merger—Golden Parachute Compensation”

 

“The Merger Agreement—Treatment of Common Stock and Company Equity Awards”

 

“The Special Meeting—Time, Place and Purpose of the Special Meeting”

 

“Merger-Related Executive Compensation Arrangement (The Merger-Related Compensation Proposal—Proposal 3)”

 

(c) Other material information. The information set forth in the Proxy Statement, including all annexes thereto, is incorporated herein by reference.

 

Item 16. Exhibits

Regulation M-A Item 1016

 

(a)(1) Preliminary Proxy Statement of Cornerstone Building Brands, Inc. (the “Proxy Statement”) (incorporated herein by reference to the Schedule 14A filed concurrently with the SEC).

 

(a)(2) Form of Proxy Card (incorporated herein by reference to the Schedule 14A filed concurrently with the SEC).

 

(a)(3) Letter to Cornerstone Building Brands, Inc. Stockholders (incorporated herein by reference to the Proxy Statement).

 

(a)(4) Notice of Special Meeting of Stockholders (incorporated herein by reference to the Proxy Statement).

 

(a)(5) Press Release, dated March 7, 2022 (filed as Exhibit 99.1 to Cornerstone Building Brands, Inc.’s Current Report on Form 8-K, filed March 7, 2022 and incorporated herein by reference).

 

(b)(1) Debt Commitment Letter, dated March 5, 2022, by and between Camelot Return Merger Sub, Inc. and Deutsche Bank AG New York Branch, Deutsche Bank AG Cayman Islands Branch, Deutsche Bank Securities Inc., UBS AG, Stamford Branch, UBS Securities LLC, Barclays Bank PLC, BNP Paribas, BNP Paribas Securities Corp., Royal Bank of Canada, RBC Capital Markets, Société Générale, Goldman Sachs Bank USA, Natixis, New York Branch, Jefferies Finance LLC, Apollo Global Funding, LLC, Apollo Capital Management, L.P., on behalf of one or more funds, accounts, or other clients managed by it or its affiliates, U.S. Bank National Association and Blackstone Alternative Credit Advisors LP.*

 

(b)(2) Debt Commitment Letter, dated March 5, 2022, by and between Camelot Return Holdings, LLC and Deutsche Bank AG Cayman Islands Branch, Deutsche Bank Securities Inc., UBS AG, Stamford Branch, UBS Securities LLC, Barclays Bank PLC, BNP Paribas, BNP Paribas Securities Corp., Royal Bank of Canada, RBC Capital Markets, Société Générale, Goldman Sachs Bank USA, Natixis, New York Branch, Jefferies Finance LLC and Arawak X, L.P.*

 

(b)(3) Equity Commitment Letter, dated March 5, 2022, by and between Clayton, Dubilier & Rice Fund X, L.P. and Camelot Return Intermediate Holdings, LLC.*

 

(c)(1) Discussion Materials of Centerview Partners LLC for the Special Committee, dated October 25, 2021.

 

(c)(2) Discussion Materials of Centerview Partners LLC for the Special Committee, dated November 23, 2021.

 

(c)(3) Discussion Materials of Centerview Partners LLC for the Special Committee, dated December 14, 2021.

 

 15 

 

 

(c)(4) Discussion Materials of Centerview Partners LLC for the Special Committee, dated January 7, 2022.

 

(c)(5) Discussion Materials of Centerview Partners LLC for the Special Committee, dated February 9, 2022.

 

(c)(6) Discussion Materials of Centerview Partners LLC for the Special Committee, dated February 11, 2022.

 

(c)(7) Discussion Materials of Centerview Partners LLC for the Special Committee, dated March 5, 2022.

 

(c)(8) Discussion Materials of Centerview Partners LLC for the Board, dated March 5, 2022.

 

(c)(9) Opinion of Centerview Partners LLC, dated March 5, 2022 (incorporated herein by reference to Annex B of the Proxy Statement).

 

(d)(1) Agreement and Plan of Merger, dated as of March 5, 2022, by and among Camelot Return Intermediate Holdings, LLC, Camelot Return Merger Sub, Inc., and Cornerstone Building Brands, Inc. (incorporated herein by reference to Annex A of the Proxy Statement).

 

(d)(2) Limited Guarantee, dated March 5, 2022, by Clayton, Dubilier & Rice Fund X, L.P. in favor of Cornerstone Building Brands, Inc.*

 

(d)(3) Voting and Support Agreement, dated March 5, 2022, by and between Cornerstone Building Brands, Inc. CD&R Pisces Holdings, L.P., Clayton, Dubilier & Rice Fund VIII, L.P., CD&R Friends & Family Fund VIII, L.P., Clayton, Dubilier & Rice, LLC, and, solely for purposes of Section 3 of the Agreement, Clayton, Dubilier & Rice Fund X, L.P. (filed as Exhibit 10.1 to Cornerstone Building Brands, Inc.’s Current Report on Form 8-K, filed March 7, 2022 and incorporated herein by reference).

 

(d)(4)     Stockholders Agreement, dated November 16, 2018, by and among NCI Building Systems, Inc., Clayton, Dubilier & Rice Fund VIII, L.P., CD&R Friends & Family Fund VIII, L.P., CD&R Pisces Holdings, L.P., Atrium Intermediate Holdings, LLC, GGC BP Holdings, LLC and AIC Finance Partnership, L.P. (filed as Exhibit 10.1 to NCI Building Systems, Inc.’s Current Report on Form 8-K, filed November 20, 2018 and incorporated herein by reference).

 

(d)(5) Stockholders Agreement – Limited Waiver, dated as of February 12, 2022, by and among Cornerstone Building Brands, Inc., Clayton, Dubilier & Rice Fund VIII, L.P., CD&R Friends & Family Fund VIII, L.P. and CD&R Pisces Holdings, L.P. (filed as Exhibit 10.1 to Cornerstone Building Brands, Inc.’s Current Report on Form 8-K, filed February 14, 2022 and incorporated herein by reference).

 

(f) Section 262 of the General Corporation Law of the State of Delaware (incorporated herein by reference to Annex C of the Proxy Statement).

 

(g) None.

 

107 Filing Fee Table.*

 

* Previously filed with the Schedule 13E-3 filed with the SEC on April 7, 2022.

 

 16 

 

 

SIGNATURE

 

After due inquiry and to the best of each of the undersigned’s knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct.

 

Dated as of May 9, 2022.

 

  CORNERSTONE BUILDING BRANDS, INC.
     
  By: /s/ Alena S. Brenner
    Name: Alena S. Brenner
    Title: Executive Vice President, General Counsel and Corporate Secretary
     
  CAMELOT RETURN INTERMEDIATE HOLDINGS, LLC
     
  By: /s/ Rima Simson
    Name: Rima Simson
    Title: Vice President, Treasurer and Secretary
     
  CAMELOT RETURN MERGER SUB, INC.
     
  By: /s/ Rima Simson
    Name: Rima Simson
    Title: Vice President, Treasurer and Secretary
     
  CAMELOT RETURN HOLDINGS, LLC
     
  By: /s/ Rima Simson
    Name: Rima Simson
    Title: Vice President, Treasurer and Secretary
     
  CAMELOT RETURN PARENT, LLC
     
  By: /s/ Rima Simson
    Name: Rima Simson
    Title: Vice President, Treasurer and Secretary
     
  CAMELOT RETURN ULTIMATE, LLC
     
  By: /s/ Rima Simson
    Name: Rima Simson
    Title: Vice President, Treasurer and Secretary

 

17

 

 

  CAMELOT RETURN GP, LLC
     
  By: /s/ Rima Simson
    Name: Rima Simson
    Title: Vice President, Treasurer and Secretary
     
  CD&R PISCES HOLDINGS, L.P.
     
  By: CD&R Investment Associates X, Ltd.
  Its: General Partner
     
  By: /s/ Rima Simson
    Name: Rima Simson
    Title: Vice President, Treasurer and Secretary

  

  CLAYTON, DUBILIER & RICE FUND VIII, L.P.
     
  By: CD&R Associates VIII, Ltd.
  Its: General Partner
     
  By: /s/ Rima Simson
    Name: Rima Simson
    Title: Vice President, Treasurer and Secretary
     
  CD&R FRIENDS & FAMILY FUND, L.P.
     
  By: CD&R Associates VIII, Ltd.
  Its: General Partner
     
  By: /s/ Rima Simson
    Name: Rima Simson
    Title: Vice President, Treasurer and Secretary

 

18

 

 

  CLAYTON, DUBILIER & RICE FUND X, L.P.
     
  By: CD&R Associates X, L.P.
  Its: General Partner
     
  By: CD&R Investment Associates X, Ltd.
  Its: General Partner
     
  By: /s/ Rima Simson
    Name: Rima Simson
    Title: Vice President, Treasurer and Secretary
     
  CD&R ASSOCIATES X, L.P.
     
  By: CD&R Investment Associates X, Ltd.
  Its: General Partner
     
  By: /s/ Rima Simson
    Name: Rima Simson
    Title: Vice President, Treasurer and Secretary
     
  CD&R INVESTMENT ASSOCIATES X, LTD.
     
  By: /s/ Rima Simson
    Name: Rima Simson
    Title: Vice President, Treasurer and Secretary

 

  CLAYTON, DUBILIER & RICE, LLC
     
  By: /s/ Jillian C. Griffiths
    Title: Chief Financial Officer

  

19

 

Exhibit (c)(1)

 

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October 25, 2021 Presentation to the Special Committee Project RETURN

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1 Disclaimer This presentation has been prepared by Centerview Partners LLC (“Centerview”) for use solely by the Management and Special Committee of RETURN, Inc.(“RETURN”) in connection with its evaluation of a proposed transaction involving RETURN and for no other purpose. The information contained herein is based upon information supplied by or on behalf of RETURN and publicly available information, and portions of the information contained herein may be based upon statements, estimates and forecasts provided by RETURN. Centerview has relied upon the accuracy and completeness of the foregoing information, and has not assumed any responsibility for any independent verification of such information or for any independent evaluation or appraisal of any of the assets or liabilities (contingent or otherwise) of RETURN or any other entity, or concerning the solvency or fair value of RETURN or any other entity. With respect to financial forecasts, Centerview has assumed that such forecasts have been reasonably prepared on bases reflecting the best currently available estimates and judgments of the Management of RETURN as to the future financial performance of RETURN, and at your direction Centerview has relied upon such forecasts, as provided by RETURN’s Management, with respect to RETURN. Centerview assumes no responsibility for and expresses no view as to such forecasts or the assumptions on which they are based. The information set forth herein is based upon economic, monetary, market and other conditions as in effect on, and the information made available to us as of, the date hereof, unless indicated otherwise and Centerview assumes no obligation to update or otherwise revise these materials. The financial analysis in this presentation is complex and is not necessarily susceptible to a partial analysis or summary description. In performing this financial analysis, Centerview has considered the results of its analysis as a whole and did not necessarily attribute a particular weight to any particular portion of the analysis considered. Furthermore, selecting any portion of Centerview’s analysis, without considering the analysis as a whole, would create an incomplete view of the processunderlying its financial analysis. Centerview may have deemed various assumptions more or less probable than other assumptions, so the reference ranges resulting from any particular portion of theanalysis described above should not be taken to be Centerview’s view of the actual value of RETURN. These materials and the information contained herein are confidential, were not prepared with a view toward public disclosure, and may not be disclosed publicly or made available to third parties without the prior written consent of Centerview. These materials and any other advice, written or oral, rendered by Centervieware intended solely for the benefit and use of the Management and Special Committee of RETURN (in its capacity as such) in its consideration of the proposed transaction, and are not for the benefit of, and do not convey any rights or remedies for any holder of securities of RETURN or any other person. Centerview will not be responsible for and has not provided any tax, accounting, actuarial, legal or other specialist advice. These materials are not intended to provide the sole basis for evaluating the proposed transaction, and this presentation does not represent a fairness opinion, recommendation, valuation or opinion of any kind, and is necessarily incomplete and should be viewed solely in conjunction with the oral presentation provided byCenterview.

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2 . RETURN has undertaken several strategic and financial actions that have materially improved its portfolio and financial position since the merger: – Acquired multiple windows businesses, including Cascade Windows and Prime Window Systems – Divested Insulated Metal Panels and DBCI roll-up door businesses – Generated material free cash flow to delever from 6.0x net leverage in Q2’19 to 3.8x net leverage today – Achieved $250mm of synergies and cost savings post-merger with Ply Gem (favorably higher than $185mm at announcement) – Improved EBITDA margins from 9.9% in FY 2016 to 12.4% in FY 2021E . Notwithstanding RETURN’s financial and operating successes, share price performance and valuation have underperformed peers and the broader market – 5-year total shareholder return (“TSR”) of (2%) vs. 90% for a peer index(1) and 110% for the S&P 500 – Current EV / NTM EBITDA multiple of 6.1x is below post-merger averages and peers(1) . Public market underperformance appears to be due, in part, to RETURN’s limited float / trading liquidity and financial leverage . While the standalone plan forecasts strong deleveraging (net leverage of 1.6x by FY 2023E), the current balance sheet may continue to be a limiting factor on RETURN’s strategic flexibility and share price . Additionally, we have been told that COPY (but not confirmed directly) does not intend to sell its shares in the near-term, indicating the limited float will continue to be an overhang for the foreseeable future Executive Summary Source: Company filings, Wall Street research and FactSet as of October 15, 2021. (1) Represent median of peer index. Peers consist of American Woodmark, Armstrong World Industries, Masonite International, Owens Corning and PGT Innovations. Excludes Jeld-Wen which was not public in 2016.

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3 . Centerview has had several discussions with RETURN’s leadership team to gain further insight into the Company and the current Management plan, including: – October 13, 2021: Board / Management materials and model review discussion with RETURN’s CFO – October 13, 2021: Project RETURN update call with the Special Committee – October 14, 2021: Business and strategic overview discussion with RETURN’s CEO and CFO . Today’s presentation provides the Special Committee with Centerview’s perspectives on the following topics: – RETURN’s current market positioning – Review of RETURN Management’s standalone plan – Review of strategic alternatives, including potential engagement with COPY – Preliminary financial analysis of the standalone plan . Should the Special Committee elect to pursue a specific course of action, Centerview can provide supplemental perspectives on an execution plan Executive Summary (Cont’d) 1 2 3 4

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RETURN Current Market Positioning 1

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5 RETURN Strategic and Financial Evolution FY 2016(1) FY 2020(2) Merger with Ply Gem (incl. Atrium Windows & Doors and Silver Line Division from Andersen Corp.) Acquisition of Environmental Stoneworks Acquisition of Kleary Masonry Acquisition of Prime Window Systems — Divestitures of IMP and DBCI businesses Acquisition of Cascade Windows . $50mm share repurchase program $21 $27 $61 $121 $82 $4 $183 $40 $63 $41 $47 $6 $88 $68 $108 $304 $128 2016 2017 2018 2019 2020 Source: Company filings, Wall Street research and FactSet as of October 15, 2021. Note: Dollars in millions, except per share amounts. Financials as reported, unless otherwise noted. (1) FY 2016 represents NCI fiscal year ended October 30, 2016. Market cap and enterprise value reflect FY Q4’16 balance sheet. (2) Pro forma for the sale of the DBCI and IMP businesses. Enterprise value is pro forma for the sale of the DBCI and IMP businesses, acquisition of Cascade Windows and settlement of NCI merger lawsuit. FY 2020 market mix based on 2022E Management projections provided on October 21, 2021. (3) FY 2020 geographic mix is not pro forma for the sale of the DBCI and IMP businesses or acquisition of Cascade Windows. Capex M&A Share Repurchases 53% 34% 13% $1.7bn Net Sales 47% 27% 26% $4.5bn Net Sales Metal Components Engineered Building Systems Metal Coil Coating Segments Windows Commercial Siding Mix 98% / 2% North America International ~100% / <1%(3) North America International Metric (as of Oct. 30, 2016) Metric (as of Oct. 15, 2021) Delta ~32%/ ~38% / ~30% R&R / New Homes / Non-Res. Share Price $14.40 Market Cap $1.0bn Enterprise Value $1.4bn EV / NTM EBITDA 7.3x FY'16A Sales Growth (y-o-y) 7.8% FY'16A EBITDA Margin 9.9% Share Price $14.24 ($0.16) Market Cap $1.8bn $0.8bn Enterprise Value $4.3bn $2.9bn EV/NTM EBITDA 6.1x (1.2x) FY'21E Sales Growth (y-o-y) 22.5% 14.7% FY'21E EBITDA Margin 12.4% 2.5% Excludes $1.2bn of stock consideration for Ply Gem Selected Actions Capital Allocation

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6 $0 $5 $10 $15 $20 $25 $30 $35 Oct-16 Oct-17 Oct-18 Oct-19 Oct-20 Oct-21 Share Price Performance Over Time Source: FactSet and Wall Street research as of October 15, 2021. Note: M&A annotations only include NCI / CNR transactions and Ply Gem transactions announced after the merger announcement with a deal size greater than $100mm. Peers consist of American Woodmark, Armstrong World Industries, Jeld-Wen, Masonite International, Owens Corning and PGT Innovations. (1) Represents share price performance from October 14, 2016 to February 19, 2020. (2) Represents share price performance from February 19, 2020 to June 7, 2021. (3) Represents share price performance from June 7, 2021 to October 15, 2021. S&P 500 +43% +59% (37%) +43% +25% +111% Indexed Share Price Performance $14.58 +86% +110% $14.24 (2%) (9%) +6% (27%) Building Prod. Peers Portfolio Transformation Period(1) Initial COVID Impact & Recovery(2) Recent Performance(3) Jul. 17, 2018: NCI and Ply Gem announced merger Nov. 16, 2018: NCI and Ply Gem merger closed Jan. 17, 2019: Announced acquisition of Environmental Stoneworks Jul. 27, 2021: Announced divestiture of DBCI business Aug. 2, 2021: Announced acquisition of Cascade Windows Aug. 4, 2021: Announced CEO retirement and transition plan Aug. 9, 2021: Completed divestiture of IMP business RETURN Share Price Performance (Last 5 Years) Aug. 28, 2018: Ply Gem announced acquisition of Silver Line Division from Andersen Corporation Jun. 7, 2021: Announced divestiture of IMP business

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7 L5Y L3Y LTM Mean Mean Mean Current RETURN 7.2x 7.0x 7.1x 6.1x Peers 8.5x 8.4x 8.8x 8.2x Δ vs. Peers (1.4x) (1.5x) (1.7x) (2.2x) Historical Valuation Multiple vs. Peers Source: FactSet and Wall Street research as of October 15, 2021. Note: EBITDA is unburdened for stock-based compensation. Peers consist of American Woodmark, Armstrong World Industries, Jeld-Wen, Masonite International, Owens Corning and PGT Innovations. EV / NTM EBITDA 4.0x 6.0x 8.0x 10.0x 12.0x Oct-16 Oct-17 Oct-18 Oct-19 Oct-20 Oct-21 6.1x 8.2x 7.5x 7.9x (0.4x) Peer Group Mean RETURN ∆ vs. Peers (2.2x)

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8 R² = 0.66 5.0x 6.0x 7.0x 8.0x 9.0x 10.0x 4% 6% 8% 10% Source: FactSet and company filings as of October 15, 2021. Note: Regression based on selected building materials companies. Peers include OC, AWI, DOOR, JELD, PGTI and AMWD. Regression li ne and r-squared value exclude RETURN and AWI. EV / NTM EBITDA Multiple vs. 2021E – 2022E Revenue Growth EV / NTM EBITDA 2021E - 2022E Revenue Growth Benchmarking Valuation vs. Peers RETURN’s valuation multiple below what market correlation metrics would imply RETURN (Consensus) 14.0x

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9 CY ’21E–’22E Rev. Growth CY ’22E EBITDA Margin CY ’21E–’22E EBITDA Growth Benchmarking Financial Metrics vs. Peers Source: Company filings, Management projections and FactSet as of October 15, 2021. Base, Upside and Downside scenarios based on Management projections provided on October 21, 2021. Note: Percentiles exclude RETURN. Consensus EBITDA is unburdened for stock-based compensation. Net leverage based on LTM values. Base Case Upside Case Downside Case Peers RETURN Per Management Projections 22% 19% 17% 12% 36% 23% 18% 16% 12% 11% 10% 14% 12% 11% 2.6x 2.0x 2.1x 1.4x 3.8x 3.0x 2.6x 2.4x 1.7x 1.3x 1.1x 8% 7% 7% 5% 10% 8% 7% 6% 5% 5% 4% 16% 14% 11% RETURN (Consensus) RETURN (Consensus) RETURN (Consensus) Peer Mean 25th Percentile Peer Median 75th Percentile Net Leverage RETURN (Consensus) Base Case Upside Case Downside Case Base Case Upside Case Downside Case Base Case Upside Case Downside Case Peer Mean 25th Percentile Peer Median 75th Percentile Peer Mean 25th Percentile Peer Median 75th Percentile Peer Mean 25th Percentile Peer Median 75th Percentile N / A 14% 13% 13% 12% 23% 15% 14% 12% 11% 8% 4% 28% 15% 3%

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10 Outlook Valuation 2022E 2022E % Prem. EV / 2022E 2022E EBITDA EBITDA Broker Price Target To Current Base Year EBITDA Revenue EBITDA Margin CAGR 76% 2022E 8.1x $5,695 $701 12% 7% 76% 2022E 7.5x 5,774 729 13% 10% 47% 2022E 7.0x 5,845 718 12% 9% 19% 2022E 6.5x 5,552 692 12% 7% Median 62% 7.3x $5,735 $710 12% 8% Operating Metrics $25 $25 $21 $17 $23 Analyst Perspectives Selected Commentary Source: Wall Street research as of October 15, 2021. Buy Hold “While we do not view the acquisitions / divestures as driving a categorical shift in CNR’s balanced commercial / residential emphasis, everything has been done with a consistent theme of aligning the portfolio with deeper market opportunities while accelerating deleveraging efforts.” - Barclays, 8/5/21 “We continue to expect that gross margins are likely to reflect a net headwind from higher costs as the company has been focused on delivering a product as quickly as possible to customers despite incurring higher costs. We expect the company to return to YoY gross margin expansion as we enter 2022.” - CJS, 8/6/21

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11 Limited Trading Float Potentially Weighing on Valuation Source: Company filings and FactSet as of October 15, 2021. Last 12 Month Average DailyTrading Volume (“ADTV”) as a % of Basic Shares Outstanding More Trading Liquidity Less Trading Liquidity 0.81% 0.59% 0.59% 0.54% 0.48% 0.48% 0.40% OC AMWD AWI DOOR JELD CNR PGTI Float: Top Shareholder: Top 10 Shareholders: 98.4% 98.5% 98.7% 97.8% 98.8% 41.9% 95.6% 9.7% 15.4% 12.3% 10.2% 14.8% 49.3% 14.5% Vanguard BlackRock Cap Re Vanguard Fidelity COPY BlackRock 41.1% 58.8% 59.0% 50.8% 61.9% 69.7% 58.2% RETURN

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12 Companies with a Large Single Shareholder Underperform Total Shareholder Return of Companies in the S&P 500 Source: FactSet as of October 15, 2021. Note: Represents companies included in the S&P 500, including related classes of stock. 5-Year TSR 3-Year TSR 186% 120% <20% ≥20% # of Companies 487 18 487 18 83% 62% <20% ≥20% % of Outstanding Shares Held by Single Shareholder % of Outstanding Shares Held by Single Shareholder

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Review of Management’s Standalone Plan 2

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14 Key Observations from Centerview’s Discussions with RETURN Management Value Creation Strategic End Markets Efficiencies Capital Allocation Operational Financial Management Forecast Scenario Planning . Focus on strategic clarity (e.g., one “RETURN”) and the ability to articulate to key constituencies .“Expansive innovation engine” expected to be a value driver but requires a longer timeline to clearly define Acquisition Strategy . R&R and new construction have been strong; expect robust demand to continue across multiple channels . Commercial business hit hardest by the pandemic but seeing recovery in backlog . Priority is to stabilize and strengthen the RETURN foundation before adding new capabilities . Focused on bolt-on opportunities; however, enhanced cash flow widens spectrum of M&A targets . Significant manufacturing inefficiency in 2021, but future cost savings currently above projected run-rate . Implementing automation would mitigate labor shortage but requires the proper team and site readiness . Windows backlogs up significantly, with lead times extended due to the pandemic-driven demand increase . Additional upside from pricing/mix in Windows not fully factored into the forecast for conservative purposes . Leverage below 3x viewed as a comfortable level by Management; expect to delever to below 3x in the next year . Labor wages up significantly; requires $70mm investment over the next few years . 2021 a record year across Windows and Siding; Commercial expected to recover in 2022 . Significantly beat previous financial plan, with pricing/mix as a new key driver

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15 Management Base Case Financial Projections Source: Management projections provided on October 21, 2021. Note: Dollars in millions. Revenue Adjusted EBITDA Unlevered Free Cash Flow % Growth (5%) 22% 14% 6% 5% 5% 6% $4,693 $4,457 $5,458 $6,235 $6,601 $6,947 $7,318 $7,767 2019A 2020A 2021E 2022E 2023E 2024E 2025E 2026E % Growth 6% 22% 15% 14% 11% 11% 12% % Margin 11% 12% 12% 12% 13% 14% 15% 16% $523 $555 $675 $775 $880 $981 $1,090 $1,216 2019A 2020A 2021E 2022E 2023E 2024E 2025E 2026E % Growth 60% (40%) 44% 44% 7% 9% 10% % Margin 6% 10% 5% 6% 9% 9% 9% 9% $280 $449 $269 $389 $562 $599 $652 $719 2019A 2020A 2021E 2022E 2023E 2024E 2025E 2026E Windows Segment . 5-6% growth in ’23E-’26E Commercial Segment . Most impacted by COVID . Recovery in ’21E-‘22E . 3% growth by ’26E Siding Segment . 6-8% growth in ’23E-’26E Commentary ‘21E-‘26E CAGR: 7% ‘21E-‘26E CAGR: 12% ‘21E-‘26E CAGR: 16% Windows & Siding Segment . Pricing set above inflation Commercial Segment . Pricing to offset historic highs in cost of steel Manufacturing . Savings from automation / process simplification CapEx (% of Rev.) . 1% (maintenance) . 1.5-2.0% (growth/savings) Primary Working Capital . 15-16% of LTM Sales Tax Rate . 30% in ’22E-’26E

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16 Management Base Case vs. Consensus Source: FactSet and Management projections provided on October 21, 2021. Note: Dollars in millions. Market data as of October 15, 2021. Revenue Gross Profit 2021E 2022E Consensus Management Base Case % Growth 5% 14% $5,774 $6,235 % Margin 19% 21% $1,047 $1,149 % Margin 20% 20% $1,177 $1,267 % Margin 12% 12% $667 $675 % Margin 12% 12% $718 $775 (0.7%) +8.0% +7.6% +1.1% +9.8% Adjusted EBITDA % Growth 23% 22% $5,495 $5,458 +7.9%

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17 Comparison of Management Scenarios – Oct. 2021 Forecast Projected Net Sales Projected Adj. EBITDA Projected Unlevered Free Cash Flow Source: Management projections provided on October 21, 2021. Note: Dollars in millions. Base Case Upside Case Downside Case $6,235 $6,601 $6,947 $7,318 $7,767 $6,349 $6,865 $7,408 $7,981 $8,702 $5,458 $6,061 $6,290 $6,346 $6,443 $6,749 $5,000 $5,500 $6,000 $6,500 $7,000 $7,500 $8,000 $8,500 $9,000 2021E 2022E 2023E 2024E 2025E 2026E % Growth % Margin Upside 22% 16% 8% 8% 8% 9% Base 22% 14% 6% 5% 5% 6% Downside 22% 11% 4% 1% 2% 5% 2021E 2022E 2023E 2024E 2025E 2026E % Margin % Margin Upside 12% 14% 15% 16% 18% 19% Base 12% 12% 13% 14% 15% 16% Downside 12% 11% 12% 13% 13% 14% % Margin Upside 5% 7% 9% 10% 11% 11% Base 5% 6% 9% 9% 9% 9% Downside 5% 6% 8% 9% 9% 9% Key Case Drivers . Pricing net of inflation (e.g., above / flat) . Retained pricing in deflationary period . 2024 recession for Windows/Siding . 2025 recession for Commercial Key Case Drivers . Volume leverage from investments in growth, automation and IT initiatives . Right-sized cost structure (e.g., labor) Key Case Drivers . Right-sized investment levels (e.g., higher capex spend on future growth and cost-out initiatives in Upside Case) FY’21E – FY’26E $775 $880 $981 $1,090 $1,216 $861 $1,035 $1,218 $1,410 $1,628 $675 $692 $755 $798 $853 $943 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 $1,800 2021E 2022E 2023E 2024E 2025E 2026E $389 $562 $599 $652 $719 $434 $652 $741 $851 $974 $269 $375 $516 $542 $560 $585 $-- $200 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 $1,800 2021E 2022E 2023E 2024E 2025E 2026E

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18 $4,693 $4,457 $5,458 $6,235 $6,601 $6,947 $4,911 $4,862 $4,658 $4,704 $4,833 $4,917 $4,000 $4,500 $5,000 $5,500 $6,000 $6,500 $7,000 2019A/E 2020A/E 2021E 2022E 2023E 2024E Comparison of Management Scenarios – Sept. 2019 vs. Oct. 2021 Projected Net Sales Source: Management projections provided on October 21 and October 5, 2021. Note: Dollars in millions. 2019 and 2020 figures represent actuals for the October 2021 Base Case and estimates for the September 2019 Base Case. Commentary Sept. 2019 Forecast . Forecast consisted of a Base Case and Upside Case . Base Case assumed a recession would occur during the 5-year projection period Actuals vs. Sept. 2019 Forecast . Revenue and Adj. EBITDA below Sept. 2019 Forecast . COVID impact: higher residential repair & remodel activity than expected, offset by a (18%) y-o-y decrease in non-residential construction starts Oct. 2021 Forecast vs. Sept. 2019 Forecast . Oct. 2021 revenue projections for 2021E - 2023E are more favorable, primarily due to pricing / inflation . Commercial segment is now exhibiting signs of recovery, beginning in Q3’2021E . Oct. 2021 forecast includes the following: – Divestiture of Insulated Metal Panels business (7.5% of 2020A Revenues) and roll-up sheet door business – Acquisition of Cascade Windows, Prime Window Systems and Kleary Masonry FY’19A/E – FY’24E $523 $555 $675 $775 $880 $981 $575 $614 $591 $632 $682 $722 $400 $500 $600 $700 $800 $900 $1,000 $1,100 $1,200 2019A/E 2020A/E 2021E 2022E 2023E 2024E Projected Adj. EBITDA % Growth % Margin Oct-21 Base (5%) 22% 14% 6% 5% Sep-19 Base (1%) (4%) 1% 3% 2% % Margin % Margin Oct-21 Base 11% 12% 12% 12% 13% 14% Sep-19 Base 12% 13% 13% 13% 14% 15%

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Review of Strategic Alternatives 3

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20 Base Plan Execution Negotiate with COPY Accelerated Portfolio Management Competitive Sale Process Perspectives on Strategic Alternatives Overview . Execute on standalone plan . Delever with FCF / asset sales . Continued bolt-on acquisition program Execute against stated strategy Shareholders have the opportunity to benefit from value in standalone plan Operational and valuation risk of not delivering against standalone plan Time required to create value through business execution Balance sheet limits strategic flexibility Does not address COPY ownership overhang ? Feasibility of standalone plan ? Catalyst for near-term re- rating of multiple / share price appreciation . Pursue a sale process with COPY and other potentially interested parties Potential to drive higher value through competitive dynamics Eliminates execution risk of standalone plan for non- COPY shareholders Transaction execution risk Higher disruption risk from a broader process COPY ownership may impact other interest ? COPY’s willingness to be a seller . Pursue larger acquisitions / divestitures to further reshape portfolio and improve financial profile Balance sheet limits flexibility to execute scaled M&A Historical portfolio management has not translated into share price gains ? Ability to execute buy- and sell-side M&A at value creating levels Benefits Considerations Questions Builds on historical M&A success Potential for multiple re- rating as metrics improve 1 2 3b Sale of the Company 3a 3 . Explore a negotiated transaction with COPY Potential premium for non- COPY shareholders Eliminates execution risk of standalone plan for non- COPY shareholders Transaction execution risk Potential business disruption ? COPY’s offer value ? Ability to engage with other potential acquirors before entering into an agreement with COPY

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21 NTM EV / EBITDA Multiple RETURN Current (6.1x) 3-Yr RETURN Average (7.0x) Illustr. Cost Undiscounted Future Share Price (2022E) of Equity $26.85 $33.40 14.0% $22.90 $28.50 16.0% 22.45 27.90 18.0% 21.95 27.35 $18.95 $21.95 $24.60 $14.24 $24.50 $27.35 $29.65 $10 $20 $30 $40 $50 Current 2021 2022 2023 $19.60 $26.85 $35.45 $14.24 $25.35 $33.40 $42.75 $10 $20 $30 $40 $50 Current 2021 2022 2023 Illustrative Future Share Price Present Value of Illustrative Future Share Price(2) Source: FactSet as of October 15, 2021 and Management projections provided on October 21, 2021. Note: Diluted shares in millions. Future share prices as of year-end. Share prices rounded to nearest $0.05. (1) NTM multiple based on RETURN 3-year average. (2) Illustrative future share price discounted at 18% based on RETURN’s cost of equity per RETURN observed figures. Present Value of YE 2022 Share Price Sensitivity RETURN Mgmt. Plan at Current 6.1x NTM Multiple RETURN Mgmt. Plan at 3-Year Avg. 7.0x NTM Multiple(1) Memo: NTM EBITDA $708 $775 $880 $981 Net Debt $2,460 $2,200 $1,912 $1,430 Dil. Shares 127.2 127.2 127.2 127.2 Future Share Price at Current Multiple Upside $23.70 $34.55 $47.70 Downside $15.65 $20.85 $26.35 Future Share Price Breakeven Analysis: Management Plan Analysis represents illustrative future share price assuming a range of EV / NTM EBITDA multiples applied to RETURN Management Plan projections Base Plan Execution 1 Reflects Base Case financials Reflects Base Case financials

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22 Portfolio Management Considerations Transformative Acquisition Bolt-on Acquisitions Divestitures Observations . New capabilities can result in accelerated growth and enhanced product development . Size of investment being underwritten heightens the importance of value capture post-close . Rate at which value can be created is critical, but realization of synergies requires having the appropriate management systems in place prior to a transaction . RETURN may need to focus on stabilizing and strengthening its operating foundation before adding new capabilities . Current balance sheet limits cash acquisition capacity . Potential areas of focus: stone products, installation services, outdoor products, etc. . RETURN’s vertically integrated manufacturing provides a platform for accelerated growth . Leverage RETURN’s penetration of end markets and network of distribution channels . Potential for value creation may be limited or delayed due to size of target . Potential areas of focus: Union Corrugating and Homeland Vinyl . Reduces the burden on the company’s growth / profitability profile and Management’s focus . Proceeds can continue to help delever towards the Company’s leverage ratio . Potential areas of focus: Coil Coaters Accelerated Portfolio Management 2

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23 Premiums Paid Analysis Premiums paid in precedent transactions Source: FactSet as of October 15, 2021. Note: Transactions exclude finance, real estate and insurance targets, as well as transactions with premiums greater than 200%. (1) Premium to unaffected share price for go-privates over the last 10 years involving U.S. public companies $1-10bn in transaction value. (2) Premium to unaffected share price for all-cash transactions over the last 10 years involving U.S. public companies $1-10bn in transaction value. (3) Based on RETURN’s share price of $14.24 as of October 15, 2021. Go-Private Premiums(1) All-Cash Premiums(2) Implied RETURN Sale Price(3) $16.58 $17.99 $18.53 $20.34 $22.46 16.4% 26.3% 30.2% 42.8% 57.8% 25th Percentile Median Mean 75th Percentile 90th Percentile 18.6% 30.1% 38.7% 51.2% 71.4% 25th Percentile Median Mean 75th Percentile 90th Percentile Implied RETURN Sale Price(3) $16.89 $18.53 $19.75 $21.53 $24.41 Sale of the Company 3

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24 Implied Premiums and Multiples at Various Prices Source: Management projections, company filings, Wall Street research and FactSet as of October 15, 2021. Note: Dollars in millions, except per share values. Metric Analysis at Various Prices Offer Price $14.24 $16.00 $18.00 $20.00 $22.00 $24.00 $26.00 Implied Premium / (Discount) vs. Current $14.24 0.0% 12.4% 26.4% 40.4% 54.5% 68.5% 82.6% vs. 52-Week High $19.50 (27.0%) (17.9%) (7.7%) 2.6% 12.8% 23.1% 33.3% vs.52-Week Low $7.67 85.7% 108.6% 134.7% 160.8% 186.8% 212.9% 239.0% vs. 90-Day VWAP $16.48 (13.6%) (2.9%) 9.2% 21.3% 33.5% 45.6% 57.7% vs. 1-Year VWAP $12.13 17.4% 31.9% 48.4% 64.9% 81.4% 97.9% 114.4% (x) DSO 127.2 127.5 127.7 127.8 128.0 128.1 128.2 Equity Value $1,812 $2,039 $2,298 $2,557 $2,815 $3,074 $3,332 (+) Debt 3,254 3,254 3,254 3,254 3,254 3,254 3,254 (-) Cash (794) (794) (794) (794) (794) (794) (794) Enterprise Value $4,271 $4,499 $4,758 $5,016 $5,275 $5,533 $5,792 Implied EV / EBITDA Multiples 2021E $675 6.3x 6.7x 7.1x 7.4x 7.8x 8.2x 8.6x 2022E 775 5.5x 5.8x 6.1x 6.5x 6.8x 7.1x 7.5x 2021E $667 6.4x 6.7x 7.1x 7.5x 7.9x 8.3x 8.7x 2022E 718 5.9x 6.3x 6.6x 7.0x 7.3x 7.7x 8.1x Consensus Management Sale of the Company 3

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25 Illustrative “High-Level” Process Timeline for Engaging with COPY Process Launch Initial Outreach Preliminary Diligence Process Steps Preliminary Timing Description Near-Term Near-Term (Post- Authorization) . Special Committee authorizes RETURN Management and Centerview to engage with COPY . Centerview contacts COPY to outline a process for engagement – Process included on the following page . RETURN shares long-term financial plan with COPY . COPY submits high-level diligence questions . Conduct 2-hour diligence call between RETURN Management and COPY Late-October / Early November Transaction Execution . At the conclusion of diligence, COPY and RETURN to negotiate a definitive agreement . Communication strategy and transaction announcement Diligence Indications of Interest . Request COPY provide a written non-binding indication of interest (“IOI”) by mid-/ late-November . Special Committee will review the IOI and determine what next steps are appropriate, if any . If interest is favorable and the Special Committee chooses to proceed, Centerview and RETURN to move COPY into further diligence: – Diligence to include abbreviated Management Presentation, access to additional information in a dataroom and follow-up functional diligence calls Late-November / December Mid-/ Late- November Early November

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26 . The Special Committee is open to learning more about COPY’s potential interest in acquiring the shares it does not currently own . In order to facilitate a fully developed non-binding proposal, the Company is prepared to share its current long-term plan and arrange a due diligence call with Management . Additionally, the Special Committee will consider authorizing financing discussions with one pre- approved financing source .The Special Committee expects COPY to complete its confirmation of value in a timely manner and subsequently submit a non-binding proposal for the Special Committee’s review Initial Communication with COPY Potential Messages for the Special Committee’s Consideration

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PreliminaryFinancial Analysis 4

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28 Market Reference Points Precedent Transactions Publicly-Traded Comparables Discounted Cash Flow Analysis Preliminary Financial Analysis Parameters . RETURN’s closing share price trading levels over the past 52 weeks . Current Wall Street analyst price targets for RETURN . Premiums paid analysis for go-private and all- cash transactions . Multiples based on selected publicly-traded comparable companies applied to RETURN’s Wall Street Consensus estimates Take Private Considerations .Selected U.S.-based publicly-traded comparable companies in the building products sector – Equity value: $1bn - $10bn – Revenue growth: <10% (YoY) – EBITDA margin: ~10-20% – Mostly high free float companies with no significant ownership considerations . Selected precedent M&A transactions of U.S.-based companies in the building products sector – Transactions completed over last 5 years – Deal size greater than $1bn – Mostly strategic to strategic acquisitions . Discounted cash flow analysis of management’s projections . Weighted average cost of capital based on metrics observed for peers vs. RETURN – Unlevered beta – Capitalization –Cost of debt . Perpetuity growth rates based on historical U.S. Real GDP . Value creation can be achieved through additional levers: –Pricing/mix in Windows segment – Manufacturing efficiencies and cost savings – $75mm lawsuit settlement worth ~$0.60 per share . Value based on projections a sponsor is willing to underwrite . Projections may include additional value creation opportunities . Targeted internal rate of return of 15%-20% . Sponsor exit at year end 2026E . 6.0x pro forma net leverage . Exit multiple based on selected publicly-traded comparables Note: Metrics for Publicly-traded comparables based on 2022E.

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29 Public Trading Comparables Source: Company filings and FactSet as of October 15, 2021. Note: Dollars in billions. EBITDA is unburdened for SBC. All figures are based on RETURN fiscal year ending December 31. Companies sorted by equity value. (1) Based on RETURN’s 2022E EBITDA per Base Case Management projections. Revenue EBITDA EBITDA Net Equity Enterprise EV / EBITDA Growth Growth Margin Leverage Company Value Value CY 2022E '21E - '22E '21E - '22E 2022E LTM Owens Corning $9.6 $12.0 5.9x 4% 4% 23% 1.3x Armstrong 4.7 5.3 12.3x 8% 12% 36% 1.7x Masonite 2.7 3.2 6.4x 6% 15% 18% 1.1x JELD-WEN 2.5 3.9 7.1x 5% 14% 11% 3.0x PGT Innovations 1.2 1.7 8.1x 10% 23% 16% 2.6x American Woodmark 1.1 1.6 7.9x 7% 11% 10% 2.4x Median $2.6 $3.5 7.5x 7% 13% 17% 2.1x RETURN - Consensus $1.8 $4.3 6.0x 5% 8% 12% 3.8x RETURN - Management Base Case $1.8 $4.3 5.5x 14% 15% 12% 3.8x Preliminary Centerview Perspectives Illustrative Multiple Range of 6.0x – 7.5x Implies a RETURN Share Price of $17 - $26(1)

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30 Precedent Transaction Analysis Source: Company press releases, news articles, Wall Street research, CapIQ and FactSet. Note: Transaction multiples represent approximate figures due to lack of disclosures. Multiples are on LTM basis unless otherwise noted. (1) Based on RETURN’s LTM EBITDA as of June 30, 2021. (2) Reflects midpoint of Westlake’s disclosure on acquisition call. (3) Represents FY’18A figures. (4) Represents FY’18E figures per merger proxy. Selected acquisitions of U.S. building products companies over the last 5 years with a deal size greater than $1bn Target EV / LTM Target Financials Date Acquiror Company EV Sales EBITDA LTM Sales LTM EBITDA Margin 7/19/21 Carlisle Companies Henry $1,575 3.1x 13.2x $511 $119 23.3% 6/20/21 Westlake Chemical Boral's N.A. Building Products 2,150 2.0x ~10.5x 1,100 ~205 ~19.0% 6/7/21 Nucor Cornerstone Insulated Metal Panels 1,000 2.6x 13.4x 389 75 19.2% 11/15/19 ACPI Masco Cabinetry 1,000 1.1x 10.1x 950 99 10.4% 11/12/19 CertainTeed Gypsum & Ceiling USA Continental Building Products 1,434 2.8x 10.5x 514 136 26.4% 7/17/18 NCI Ply Gem 3,700 1.4x 10.9x 2,649 339 12.8% 1/31/18 CD&R Ply Gem 2,400 1.2x 9.8x 2,056 245 11.9% 12/1/17 American Woodmark RSI Home Products 1,075 1.9x 8.7x 560 123 22.0% Median 1.9x 10.5x 19% Mean 2.0x 10.9x 18% (3) (2) (3) (3) (3) (4) (4) (4) (4) Preliminary Centerview Perspectives Illustrative Multiple Range of 8.5x – 11.0x Implies a RETURN Share Price of $24 - $36(1)

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31 $64 Illustrative Discounted Cash Flow Analysis Source: Management projections provided on October 21, 2021. Note: Implied share prices rounded to nearest $1. Implied Share Price Based on Management Projections Key Observations High PGR Low PGR Low Discount Rate High Discount Rate . Preliminary discounted cash flow analysis implies significant variation in share prices between Management scenarios . Significant portion of RETURN’s value is captured in the terminal value . Illustrative analysis affected by assumptions regarding top-line growth and margin expansion, among other items . Illustrative share price spread between scenarios implies a wide range of premiums to current share price $14 Downside Base Upside $31 53% 64% 73% Implied Share Price Terminal Value as % of Enterprise Value $39 68% $25 62% $51 69% $19 57% $24 59% $42 65%

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32 Take-Private Considerations Source: Management projections provided on October 12, 2021. (1) Projected as of December 31, 2021. . Potential sponsor value will be based on the projections they are willing to underwrite . Sponsor projections may include additional value levers, with varying degrees of achievability as a private company: – Portfolio rationalization – Organic investment / cost-saving initiatives – Synergistic M&A – Business opportunities or synergistic combination with portfolio asset(s) Ability-to-Pay Analysis (Implied Share Price) Key Assumptions Assumes Exit at YE 2026E and 6.0x PF Net Debt Base Case Exit Multiple Exit Multiple Target IRR 6.0x 6.75x 7.5x 15.0% $33.75 $37.50 $41.25 17.5% 31.50 34.75 38.25 20.0% 29.50 32.50 35.50 Downside Case Assumes Offer Price of $24.00 per share Illustrative Sources & Uses Upside Case Exit Multiple Exit Multiple Target IRR 6.0x 6.75x 7.5x 15.0% $47.25 $52.25 $57.50 17.5% 43.50 48.25 52.75 20.0% 40.25 44.50 48.75 Exit Multiple Target IRR 6.0x 6.75x 7.5x 15.0% $25.25 $28.25 $31.00 17.5% 24.00 26.50 29.00 20.0% 22.75 25.00 27.25 Rate (x) EBITDA $mm % of Total 1st Lien Term Loan L + 4.0% 4.0x $2,700 47% Unsecured Notes 8.00% 2.0x 1,350 24% Sponsor Equity 2.4x 1,638 29% Total Sources 8.4x $5,688 100% Uses (x) EBITDA $mm % of Total Equity Value ($24.00 Offer Price) 4.6x $3,074 54% Refinance Net Debt(1) 3.6x 2,410 42% Transaction / Financing Fees 0.1x 100 2% Breakage Costs 0.1x 55 1% Minimum Cash 0.1x 50 1% Total Uses 8.4x $5,688 100% Sources

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Appendix

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34 Fiscal Year Ending December 31, 2021E 2022E 2023E 2024E 2025E 2026E Net Sales $5,458 $6,235 $6,601 $6,947 $7,318 $7,767 % Growth 22% 14% 6% 5% 5% 6% Gross Profit $1,149 $1,267 $1,421 $1,575 $1,745 $1,938 % Margin 21% 20% 22% 23% 24% 25% Operating Income $385 $469 $569 $666 $772 $893 % Margin 7% 8% 9% 10% 11% 11% Net Income $138 $224 $316 $410 $485 $569 % Margin 3% 4% 5% 6% 7% 7% Diluted Earnings per Share $1.09 $1.77 $2.49 $3.24 $3.82 $4.49 Memo: Adjusted EBITDA $675 $775 $880 $981 $1,090 $1,216 % Margin 12% 12% 13% 14% 15% 16% Unlevered Free Cash Flow $269 $389 $562 $599 $652 $719 % Margin 5% 6% 9% 9% 9% 9% Management Financial Projections: Base Case Source: Management projections provided on October 21, 2021. Note: Dollars in millions, except per share figures. (1) Includes special charges and foreign currency. (2) Excludes $865mm gain on sale of IMP and DBCI business units (2) (2) (2) (1)

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35 Balance Sheet and Change of Control Considerations Change of Control Debt Considerations RETURN Summary Balance Sheet (as of June 30, 2021) . In the event of an acquisition of RETURN, an acquiror would incur additional costs related to outstanding debt . Upon a change of control, the 2029 Senior Unsecured Notes can be redeemed per the following at any time prior to September 15, 2023: – 100% of the outstanding principal, plus an “Applicable Premium” (i.e., breakage costs) –“Applicable Premium” represents the excess of (A) the present value of (i) outstanding principal at a redemption price on September 15, 2023 of 103.063% and (ii) all required remaining interest payments due at the time of redemption through September 15, 2023 over (B) outstanding principal – The present value calculation is based on a defined treasury rate plus 50 basis points – Estimated breakage costs total $55mm, assuming a transaction close of December 31, 2021 for illustrative purposes Source: Company filings. Note: Dollars in millions. Breakage costs assume transaction closes December 31, 2021. (1) Represents the average applicable margin above LIBOR, which ranges from 1.25% to 1.75%. (2) Includes $875mm of proceeds for the sale of the IMP and DBCI business units, $75mm of proceeds from a lawsuit settlement and deducts $245mm for the acquisition of Cascade Windows. RETURN Breakage Costs Summary (1) First Coupon Amount Maturity Call Date Rate O/S Asset-Based Revolver (Capacity: $611mm) 4/12/2026 n.a L+1.50% $160 Term Loan 4/12/2028 n.a 3.75% 2,594 Total Secured Debt $2,754 2029 Senior Unsecured Notes 1/15/2029 9/15/2023 6.125% 500 Total Debt $3,254 Cash(2) $794 Shareholder's Equity $479 Tranche Outstanding Debt (as of June 30, 2021) Breakage Costs Asset-Based Revolver due 2026 $160 $-- Term Loan Facility due 2028 2,594 -- 6.125% Senior Notes due 2029 500 55 Total $3,254 $55

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36 Shareholder Overview Source: Public filings, CapitalIQ, Wall Street research and Factset as of October 15, 2021. Note: Dollars in millions. Cost basis calculated using FIFO method. (1) Based on 126.1mm basic shares outstanding as of July 27, 2021. Shareholder Mkt. Val ($mm) % of O/S (1) Shares Held Est. Avg. Cost Basis CD&R $884.9 49.3% 62,143,415 n.a. Golden Gate 106.6 5.9% 7,489,402 n.a. BlackRock 54.6 3.0% 3,835,864 $15.34 Vanguard 49.4 2.8% 3,466,832 14.59 American Century Investments 36.5 2.0% 2,561,783 13.01 Guardian Point Capital 28.5 1.6% 2,000,000 7.85 DNB Asset Management 23.0 1.3% 1,614,812 10.03 J. Goldman & Co. 22.5 1.3% 1,581,639 9.29 Russell Investments 21.8 1.2% 1,527,479 15.93 Wolf Hill Capital 20.9 1.2% 1,467,094 10.36 Dimensional Fund Advisors 20.0 1.1% 1,407,398 14.77 King Street 19.9 1.1% 1,400,000 15.22 TIAA 19.9 1.1% 1,398,521 15.24 Artisan Partners 19.2 1.1% 1,349,717 14.97 Assenagon 15.1 0.8% 1,058,455 7.50 James Metcalf 14.9 0.8% 1,044,483 n.a. Invesco 13.8 0.8% 970,614 12.35 RBF Capital 13.5 0.8% 947,028 12.54 State Street Global Advisors 13.3 0.7% 937,384 15.65 Geode Capital Management 12.1 0.7% 848,329 14.82 Top 20 Holders $1,410.5 78.6% 99,050,249 $12.98 Top 20 Shareholders

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37 Debt / Unlevered Beta Equity 1.10 1.15 1.20 1.25 1.30 15% 11.0% 11.3% 11.7% 12.0% 12.4% 25% 10.8% 11.1% 11.5% 11.8% 12.2% 35% 10.6% 11.0% 11.3% 11.6% 12.0% 45% 10.5% 10.8% 11.1% 11.5% 11.8% Weighted Average Cost of Capital Analysis Selected Public Companies Illustrative WACC IllustrativeWACC Sensitivity Source: Public company filings, Wall Street research, Bloomberg, S&P Capital IQ and FactSet as of October 15, 2021. Note: Dollars in millions. Companies sorted by market cap. (1) Represents adjusted two-year weekly beta relative to S&P 500. (2) Unlevered Beta equals (Levered Beta / (1 + (1 - Tax Rate) * (Debt / Equity)). Tax rate used is 25%. (3) Reflects median for Peer Observed. (4) Levered Beta equals (Unlevered Beta * (1 + (1 - Tax Rate) * (Debt / Equity)). Tax rate used is 25%. (5) Reflects yield on 20-year U.S. Treasury. (6) Reflects U.S. long-horizon equity risk premium per Duff & Phelps 2021 valuation handbook. (7) Reflects size premium for companies with market capitalizations between ~$1,592mm and ~$2,445mm per Duff & Phelps 2021 valuation handbook. (8) Peer Observed pre-tax cost of debt is based on the BB U.S. high-yield index effective yield per St. Louis Fed. RETURN Observed pre-tax cost of debt is based on yield to worst of RETURN’s senior notes due 2029. (9) WACC equals ((Debt / Capitalization * After-Tax Cost of Debt) + (Equity / Capitalization * Cost of Equity)). Market Debt Beta Company Cap ($mm) ($mm) Debt / Equity Levered(1) Unlevered(2) Owens Corning $9,603 $3,096 32% 1.47 1.18 Armstrong 4,732 759 16% 1.26 1.12 Masonite 2,722 803 30% 1.57 1.29 JELD-WEN 2,472 1,823 74% 1.89 1.21 PGT Innovations 1,208 479 40% 1.51 1.16 American Woodmark 1,138 496 44% 1.70 1.28 75th Percentile 43% 1.67 1.26 Mean 39% 1.57 1.21 Median 36% 1.54 1.20 25th Percentile 30% 1.48 1.17 RETURN $1,812 $3,267 180% 2.03 0.86 Peer RETURN Observed Observed Unlevered Beta(3) 1.20 0.86 Debt / Equity(3) 36% 180% Levered Beta(4) 1.520 2.033 Risk-Free Rate(5) 2.0% 2.0% Equity Risk Premium(6) 7.3% 7.3% Market Size Premium(7) 1.4% 1.4% Cost of Equity 14.4% 18.1% Pre-Tax Cost Of Debt(8) 3.35% 4.78% Tax Rate 25.0% 25.0% After-Tax Cost Of Debt 2.5% 3.6% % Equity 73.6% 35.7% % Debt 26.4% 64.3% Estimated WACC(9) 11.3% 8.8% For Reference Only

Exhibit (c)(2)

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November 23, 2021 Presentation to the Special Committee Project RETURN

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1 Disclaimer This presentation has been prepared by Centerview Partners LLC (“Centerview”) for use solely by the management and Special Committee of RETURN, Inc.(“RETURN”) in connection with its evaluation of a proposed transaction involving RETURN and for no other purpose. The information contained herein is based upon information supplied by or on behalf of RETURN and publicly available information, and portions of the information contained herein may be based upon statements, estimates and forecasts provided by RETURN. Centerview has relied upon the accuracy and completeness of the foregoing information, and has not assumed any responsibility for any independent verification of such information or for any independent evaluation or appraisal of any of the assets or liabilities (contingent or otherwise) of RETURN or any other entity, or concerning the solvency or fair value of RETURN or any other entity. With respect to financial forecasts, Centerview has assumed that such forecasts have been reasonably prepared on bases reflecting the best currently available estimates and judgments of the management of RETURN as to the future financial performance of RETURN, and at your direction Centerview has relied upon such forecasts, as provided by RETURN’s management, with respect to RETURN. Centerview assumes no responsibility for and expresses no view as to such forecasts or the assumptions on which they are based. The information set forth herein is based upon economic, monetary, market and other conditions as in effect on, and the information made available to us as of, the date hereof, unless indicated otherwise and Centerview assumes no obligation to update or otherwise revise these materials. The financial analysis in this presentation is complex and is not necessarily susceptible to a partial analysis or summary description. In performing this financial analysis, Centerview has considered the results of its analysis as a whole and did not necessarily attribute a particular weight to any particular portion of the analysis considered. Furthermore, selecting any portion of Centerview’s analysis, without considering the analysis as a whole, would create an incomplete view of the processunderlying its financial analysis. Centerview may have deemed various assumptions more or less probable than other assumptions, so the reference ranges resulting from any particular portion of theanalysis described above should not be taken to be Centerview’s view of the actual value of RETURN. These materials and the information contained herein are confidential, were not prepared with a view toward public disclosure, and may not be disclosed publicly or made available to third parties without the prior written consent of Centerview. These materials and any other advice, written or oral, rendered by Centervieware intended solely for the benefit and use of the management and Special Committee of RETURN (in its capacity as such) in its consideration of the proposed transaction, and are not for the benefit of, and do not convey any rights or remedies for any holder of securities of RETURN or any other person. Centerview will not be responsible for and has not provided any tax, accounting, actuarial, legal or other specialist advice. These materials are not intended to provide the sole basis for evaluating the proposed transaction, and this presentation does not represent a fairness opinion, recommendation, valuation or opinion of any kind, and is necessarily incomplete and should be viewed solely in conjunction with the oral presentation provided byCenterview.

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2 Situation Update . Following the Special Committee meeting on November 15, Management and Centerview have advanced several key workstreams with regards to a potential non-binding indication of interest from COPY, including: – Centerview communicated to COPY the agreed-upon message regarding the need to submit a potential non-binding indication of interest for further evaluation – COPY has engaged in financing discussions with Goldman Sachs and RBC after receiving authorization – Management prepared a summary of RETURN’s preliminary October 2021 financial results, which have not yet been shared with COPY – Management and Centerview conducted a call to review the impact from a potential take-private transaction on existing debt agreements, including provisions related to change of control, restricted payments, mergers and affiliate transactions . On November 22, COPY requested a call with Centerview, where they communicated the following: – Confirmed their leverage assumptions with Goldman Sachs and RBC of 6x+ through HoldCo note – Prepared to increase their offer for the shares not owned by them from $22 to $23 per share . The presentation materials included herein include an overview of COPY’s updated proposal and Centerview’s preliminary financial analysis

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3 Table of Contents Section 1 .................................................................................. Review of COPY’s Updated Proposal Section 2 ........................................................................Centerview’s Preliminary Financial Analysis Appendix ....................................................................................................... Supplementary Materials

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Review of COPY’s Updated Proposal 1

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5 Updated Value Communicated by COPY on November 22, 2021 Price per Share Implied Valuation Implied Premia . $23.00 per share . 33.5% to current share price of $17.23 . 50.3% to 30-day VWAP of $15.30 . 46.9% to 90-day VWAP of $15.65 . 80.6% to 1-year VWAP of $12.74 . 17.9% to 52-week high of $19.50(1) Reflects Base Case (2022 Trends Continue) . 7.9x 2021E EBITDA per Management Plan . 6.9x 2022E EBITDA per Management Plan Summary Financials Source: Management projections provided November 3, 2021. Company filings and FactSet as of November 22, 2021. Note: Dollars in millions, except per share amounts. (1) Reflects closing share price trading levels. (2) RETURN balance sheet and share count reflect the company’s latest filings. Overview COPY Current Proposal Implied Valuation Share Price $17.23 $23.00 % Premium to Current – 33.5% Diluted Shares Outstanding(2) 127.8 128.2 Equity Value $2,201 $2,948 Less: Cash(2) (677) (677) Plus: Debt(2) 3,087 3,087 Enterprise Value $4,611 $5,358 Implied Multiples Multiple: Metric: 2021E $690 6.7x 7.8x 2022E 748 6.2x 7.2x 2021E $675 6.8x 7.9x 2022E 775 5.9x 6.9x EV / EBITDA (Consensus) EV / EBITDA (Management) Consideration and Financing . 100% cash consideration . Financing discussions with Goldman Sachs and RBC reconfirmed COPY’s belief that 6x+ debt leverage was feasible for this transaction . Indebtedness would be incurred by a Holdco above the RETURN credit group following the merger – RETURN’s outstanding debt would stay in place

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6 $0 $5 $10 $15 $20 $25 Nov-16 Nov-17 Nov-18 Nov-19 Nov-20 Nov-21 RETURN’s Historical Share Price Performance Source: FactSet and Wall Street research as of November 22, 2021. Note: M&A annotations only include transactions with a deal size greater than $100mm. (1) Reflects closing share price trading levels. $17.30 $17.23 (0%) Jul. 17, 2018: NCI and Ply Gem announced merger Nov. 16, 2018: NCI and Ply Gem merger closed Jan. 17, 2019: Announced acquisition of Environmental Stoneworks Jul. 27, 2021: Announced divestiture of DBCI business Aug. 2, 2021: Announced acquisition of Cascade Windows Aug. 4, 2021: Announced CEO retirement and transition plan Aug. 9, 2021: Completed divestiture of IMP business RETURN’s Share Price Performance (Last 5 Years) Aug. 28, 2018: Ply Gem announced acquisition of Silver Line Division from Andersen Corporation Jun. 7, 2021: Announced divestiture of IMP business Nov. 9, 2021: Announced Q3’21 Earnings Implied Premia COPY Proposal Share Price $23.00 vs. Current ($17.23) 33.5% vs. 30-Day VWAP ($15.30) 50.3% vs. 90-Day VWAP ($15.65) 46.9% vs. 1-Year VWAP ($12.74) 80.6% vs. 52-Week High ($19.50) 17.9% vs. 52-Week Low ($8.61) 167.1% (1) (1) COPY Offer: $23.00 Feb. 19, 2020: Pre-COVID trading

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Centerview’s Preliminary Financial Analysis 2

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8 RETURN Management Plan - Base Case (2022 Trends Continue) Source: Management projections provided on November 3, 2021. Note: Dollars in millions (1) Includes stock-based compensation as an expense. (2) Includes pre-tax cash settlement of $75mm. Net Sales Adjusted EBITDA Unlevered Free Cash Flow(1) % Growth (5%) 22% 14% 6% 5% 5% 6% $4,693 $4,457 $5,458 $6,235 $6,601 $6,947 $7,318 $7,767 2019A 2020A 2021E 2022E 2023E 2024E 2025E 2026E % Growth 6% 22% 15% 14% 11% 11% 12% % Margin 11% 12% 12% 12% 13% 14% 15% 16% $523 $555 $675 $775 $880 $981 $1,090 $1,216 2019A 2020A 2021E 2022E 2023E 2024E 2025E 2026E % Growth 97% (42%) 70% 28% 7% 9% 11% % Margin 5% 10% 5% 7% 8% 8% 9% 9% $221 $434 $251 $427 $548 $585 $638 $705 2019A 2020A 2021E 2022E 2023E 2024E 2025E 2026E ‘21E-‘23E CAGR: 10% ‘21E-‘26E CAGR: 7% ‘21E-‘23E CAGR: 14% ‘21E-‘26E CAGR: 12% ‘21E-‘23E CAGR: 48% ‘21E-‘26E CAGR: 23% RETURN Management has created a base operating case for use in the financial analysis presented herein – Upside Case (Accelerated Growth) and Downside Case (Includes Recession) included in the appendix (2)

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9 % Growth YoY 23% 25% 22% $5,495 $5,561 $5,458 % Margin 12% 12% 12% $718 $748 $775 % Margin 12% 12% 12% $667 $690 $675 % Growth YoY 5% 10% 14% $5,774 $6,109 $6,235 Comparison of Wall Street Consensus to RETURN Base Case (2022 Trends Continue) Source: FactSet and management projections provided on November 3, 2021. Note: Dollars in millions. Market data as of November 22, 2021. Net Sales 2021E 2022E (1.9%) +2.1% (2.2%) Adjusted EBITDA +3.6% Consensus (Current) Management Plan Consensus (Pre-Q3‘21 Earnings) 2022E Consensus Estimates: Increase of +5.8% for Revenue and +4.2% for EBITDA post Q3’21 Earnings +5.8% +1.2% +3.4% +4.2%

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10 Source: Company filings, press releases, CapIQ, FactSet and management projections provided on November 3, 2021. Note: Market data as of November 22, 2021. (1) Based on RETURN’s share price of $17.23 as of November 22, 2021, 30-day VWAP of $15.30 and 52-week high of $19.50. . Selected publicly-traded comparable companies in the building products sector . Valuation multiples based on Enterprise Value / CY 2022E EBITDA . Multiples applied to RETURN’s 2022E EBITDA per Wall Street consensus and RETURN Management Plan – Base Case (2022 Trends Continue) . Based on operating cases per RETURN Management . Perpetuity growth rates of 1.75% - 2.50% for Downside Case (Includes Recession), 2.00% - 2.75% for Base Case (2022 Trends Continue) and 2.25% - 3.00% for Upside Case (Accelerated Growth) . Weighted average cost of capital (“WACC”) range of 10.5% - 12.5% . Selected precedent M&A transactions in the building products sector – Includes transactions completed with U.S. targets in the last 5 years (deal size greater than $1bn) . Multiples applied to RETURN’s LTM EBITDA as of October 2, 2021 . RETURN’s closing share price trading levels over the last 52 weeks 52-Week Trading Range Selected Precedent Transactions Analysis Discounted Cash Flow (DCF) Analysis For Reference Only . Range of current Wall Street analyst price targets for RETURN Analyst Price Targets Selected Public Company Analysis Premia Paid Analysis . Range of premia paid on selected take-private transactions – Includes transactions completed with U.S. targets in the last 10 years (deal size between $1bn and $10bn) . Premia applied to RETURN’s current share price, 30-day VWAP and 52-week high(1) Overview of Centerview’s Preliminary Financial Analysis

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11 $16.00 $14.75 $24.50 $18.50 $27.50 $44.00 $8.61 $19.00 $20.00 $17.25 $18.00 $23.50 $22.25 $37.25 $29.50 $42.25 $65.75 $19.50 $25.00 $24.75 $20.50 $21.75 – $10.00 $20.00 $30.00 $40.00 $50.00 $60.00 $70.00 Source: Management projections provided on November 3, 2021. Note: Dollars in millions, except per share figures. Implied share prices rounded to the nearest $0.25. Market data as of November 22, 2021. (1) Implied share price calculated as implied enterprise value less $2.4bn of net debt, consisting of $3.1bn of debt and $0.7bn of cash, per RETURN’s Q3’21 10-Q, divided by fully diluted shares outstanding. Fully diluted shares outstanding based on 126.2mm basic shares and 3.2mm stock options with a weighted average exercise price of $8.95. 52-Week Trading Range Selected Public Comparables Selected Precedent Transactions Implied Share Price(1) LTM EBITDA EBITDA: $651mm Multiple: 8.5x - 11.0x Mgmt. Base Case (2022 Trends Cont.) 10.5% - 12.5% WACC 2.00% - 2.75% PGR Closing Price Low - High Management 2022E EBITDA EBITDA: $775mm Multiple: 5.75x - 7.0x Price as of 11/22/21: $17.23 Analyst Price Targets Price Target Low - High For Reference Only Mgmt. Upside Case (Accel. Growth) 10.5% - 12.5% WACC 2.25% - 3.00% PGR Mgmt. Downside Case (Incl. Recession) 10.5% - 12.5% WACC 1.75% - 2.50% PGR DCF Analysis Premia Paid Analysis Implied Price Current Share Price: $17.23 Premium: 16.7% - 43.7% COPY Offer on 11/22/21: $23.00 Preliminary Financial Analysis Implied Price 30-Day VWAP: $15.30 Premium: 12.7% - 33.9% Implied Price 52-Week High: $19.50 Premium: (8.1%) - 12.0% Consensus 2022E EBITDA EBITDA: $748mm Multiple: 5.75x - 7.0x

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12 $2.25 $2.00 $1.75 $1.50 ($1.50) ($2.00) ($3.50) ($6.75) ($11.00) RETURN DCF Sensitivity Analysis (Illustrative) Source: Management projections provided on November 3, 2021. Base Case (2022 Trends Continue) . RETURN Management Plan Base Case (2022 Trends Continue) as provided to Centerview . Share price derived from mid-point of discounted cash flow analysis based on a discount rate between 10.5% and 12.5% and perpetuity growth rate of 2% to 3% . RETURN balance sheet and share count as of October 2, 2021 $33.75 (DCF Range: $27.50 - $42.25) No Hedge in Plan WholeCo Revenue Growth Increase WholeCo Revenue Growth Decrease Increased Operating Expenses . Excludes Corporate Risk Adjustment . Increase of 1% to annual growth rates . Decrease of (1%) to projected annual growth rates . Annual increase of 1% of revenue to operating expenses (excl. D&A) Key Assumptions Mid-point Per Share Impact Recession Business Cycle Reduced Price Mix Net of Inflation Reduced Manufacturing Efficiencies . Revenue decline of (1%) in 2024E, growth of 1% in 2025E and growth of 2% in 2026E, respectively . Constant EBITDA margins in 2024E, 2025E . Realization of 85% of projected pricing actions in 2022E . Realization of 50% of manufacturing efficiencies in 2022E and 2023E Reduced Operating Expenses . Annual decrease of 1% of revenue to operating expenses (excl. D&A) Increased Manufacturing Efficiencies . Increase of 25% to manufacturing efficiencies in 2022E and 2023E Adjustments to projections in Base Case (’22 Trends Cont.)

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13 Public Trading Comparables Source: Company filings and FactSet as of November 22, 2021. Note: Dollars in billions. EBITDA is unburdened for SBC. All figures are based on RETURN fiscal year ending December 31. Companies sorted by equity value. Revenue EBITDA EBITDA Net Equity Enterprise EV / EBITDA Growth Growth Margin Leverage Company Value Value 2022E '21E - '22E '21E - '22E 2022E LTM Owens Corning $9.4 $11.5 5.8x 5% 3% 23% 1.2x Masonite 2.8 3.2 6.9x 7% 12% 17% 1.2x JELD-WEN 2.5 3.8 7.1x 7% 15% 11% 2.9x PGT Innovations 1.3 1.9 9.2x 19% 27% 15% 3.5x American Woodmark 1.2 1.7 8.2x 7% 11% 10% 2.5x Median $2.5 $3.2 7.1x 7% 12% 15% 2.5x RETURN (Consensus) $2.2 $4.6 6.2x 10% 8% 12% 3.5x RETURN (Management Plan) $2.2 $4.6 5.9x 14% 15% 12% 3.5x

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14 Target EV / LTM Target's LTM Financials Date Acquiror Company EV Sales EBITDA Sales EBITDA Margin 7/19/21 Carlisle Companies Henry $1,575 3.1x 13.2x $511 $119 23.3% 6/20/21 Westlake Chemical Boral's N.A. Building Products 2,150 2.0x ~10.5x 1,100 ~205 ~19.0% 6/7/21 Nucor Cornerstone's Insulated Metal Panels 1,000 2.6x 13.4x 389 75 19.2% 11/15/19 ACPI Masco Cabinetry 1,000 1.1x 10.1x 950 99 10.4% 11/12/19 Saint-Gobain Continental Building Products 1,434 2.8x 10.5x 514 136 26.4% 7/17/18 NCI Ply Gem 3,700 1.4x 10.9x 2,649 339 12.8% 1/31/18 CD&R Ply Gem 2,400 1.2x 9.8x 2,056 245 11.9% 12/1/17 American Woodmark RSI Home Products 1,075 1.9x 8.7x 560 123 22.0% Median 1.9x 10.5x 19% Mean 2.0x 10.9x 18% Source: Company press releases, news articles, Wall Street research, CapIQ and FactSet. Note: Transaction multiples represent approximate figures due to lack of disclosures. Multiples are on LTM basis unless otherwise noted. (1) Reflects midpoint of Westlake’s disclosure on acquisition call. (2) Represents FY’19A Sales per company’s 10-K and estimated EBITDA per Wall Street Research. (3) Represents FY’18A figures. (4) Represents FY’18E figures per merger proxy. Selected acquisitions of U.S. building products companies over the last 5 years with a deal size greater than $1bn (3) (1) (2) (3) (3) (3) (4) (4) (4) (4) (2) Selected Precedent Transactions

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15 Discounted Cash Flow Analysis – Base Case (2022 Trends Continue) Source: Management projections provided on November 3, 2021. Note: Dollars in millions, except per share items. Implied share prices rounded to nearest $0.25. (1) Adjusted EBITDA includes stock-based compensation as a cash expense. (2) D&A includes ~$180mm of amortization through 2026. Terminal year assumes D&A equal to CapEx going forward. Unlevered Free Cash Flow Build Fiscal Year Ended December 31, Terminal ($ in millions) Q4 2021E 2022E 2023E 2024E 2025E 2026E Year Revenue $1,430 $6,235 $6,601 $6,947 $7,318 $7,767 $7,767 % Growth 20% 14% 6% 5% 5% 6% Adj. EBITDA (less: SBC)(1) $174 $755 $860 $961 $1,070 $1,196 $1,196 % Margin 12% 12% 13% 14% 15% 15% 15% (Less): D&A(2) (65) (284) (289) (293) (296) (301) (194) EBIT $110 $471 $571 $668 $774 $895 $1,002 (Less): Taxes (25) (141) (171) (200) (232) (268) (300) NOPAT $84 $329 $400 $468 $542 $626 $701 Plus: D&A(2) 65 284 289 293 296 301 194 Plus / (Less): Change in NWC 41 (83) 24 (1) (17) (28) (35) (Less): CapEx (24) (156) (165) (174) (183) (194) (194) Plus: Cash Settlement (tax adj.) -- 53 -- -- -- -- -- Unlevered Free Cash Flow $165 $427 $548 $585 $638 $705 $666 Implied Share Price Implied Terminal Multiple Discount Perpetuity Growth Rate Rate 2.00% 2.38% 2.75% 10.5% $38.00 $40.00 $42.25 11.5% 32.25 33.75 35.25 12.5% 27.50 28.50 30.00 Discount Perpetuity Growth Rate Rate 2.00% 2.38% 2.75% 10.5% 6.6x 6.9x 7.3x 11.5% 5.9x 6.1x 6.4x 12.5% 5.3x 5.5x 5.8x

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Appendix Supplementary Materials

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17 Take-Private Considerations Source: Management projections provided on November 3, 2021. (1) Projected as of December 31, 2021. . Potential sponsor value will be based on the projections they are willing to underwrite . Sponsor projections may include additional value levers, with varying degrees of achievability as a private company: – Portfolio rationalization – Organic investment / cost-saving initiatives – Synergistic M&A – Business opportunities or synergistic combination with portfolio asset(s) Base Case (2022 Trends Continue) Ability-to-Pay Analysis (Implied Share Price) Key Assumptions Assumes Exit at YE 2026E and 6.0x PF Net Debt Exit Multiple Target IRR 5.75x 6.38x 7.00x 15.0% $35.75 $38.75 $42.00 17.5% 33.50 36.25 39.00 20.0% 31.50 34.00 36.50 Upside Case (Accelerated Growth) Downside Case (Includes Recession) Assumes Offer Price of $23.00 per share Illustrative Sources & Uses Exit Multiple Target IRR 5.75x 6.38x 7.00x 15.0% $49.00 $53.25 $57.50 17.5% 45.25 49.25 53.00 20.0% 42.25 45.75 49.00 Exit Multiple Target IRR 5.75x 6.38x 7.00x 15.0% $27.25 $29.75 $32.25 17.5% 26.00 28.00 30.25 20.0% 24.75 26.75 28.75 Rate (x) EBITDA $mm % of Total Rollover of Existing Net Debt(1) -- 3.1x $2,080 40% Unsecured Notes 8.00% 2.9x 1,970 38% Sponsor Equity 1.7x 1,128 22% Total Sources 7.7x $5,178 100% Uses (x) EBITDA $mm % of Total Equity Value ($23.00 Offer Price) 4.4x $2,948 57% Rollover of Existing Net Debt(1) 3.1x 2,080 40% Transaction / Financing Fees 0.1x 100 2% Minimum Cash 0.1x 50 1% Total Uses 7.7x $5,178 100% Sources

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18 COPY 11/22 Metric Current Proposal Illustrative Offer Price per Share Offer Price $17.23 $23.00 $23.50 $24.00 $24.50 $25.00 $25.50 $26.00 $26.50 $27.00 Implied Premium / (Discount) vs. Current $17.23 0.0% 33.5% 36.4% 39.3% 42.2% 45.1% 48.0% 50.9% 53.8% 56.7% vs. 52-Week High $19.50 (11.6%) 17.9% 20.5% 23.1% 25.6% 28.2% 30.8% 33.3% 35.9% 38.5% vs.52-Week Low $8.61 100.1% 167.1% 172.9% 178.7% 184.6% 190.4% 196.2% 202.0% 207.8% 213.6% vs. 30-Day VWAP $15.30 12.6% 50.3% 53.6% 56.9% 60.1% 63.4% 66.7% 69.9% 73.2% 76.5% vs. 90-Day VWAP $15.65 10.1% 46.9% 50.1% 53.3% 56.5% 59.7% 62.9% 66.1% 69.3% 72.5% vs. 1-Year VWAP $12.74 35.3% 80.6% 84.5% 88.4% 92.4% 96.3% 100.2% 104.1% 108.1% 112.0% (x) DSO 127.8 128.2 128.2 128.2 128.3 128.3 128.3 128.3 128.3 128.4 Equity Value $2,201 $2,948 $3,013 $3,078 $3,142 $3,207 $3,272 $3,337 $3,401 $3,466 (+) Debt 3,087 3,087 3,087 3,087 3,087 3,087 3,087 3,087 3,087 3,087 (-) Cash (677) (677) (677) (677) (677) (677) (677) (677) (677) (677) Enterprise Value $4,611 $5,358 $5,423 $5,487 $5,552 $5,617 $5,682 $5,746 $5,811 $5,876 Implied EV / EBITDA Multiples 2021E $675 6.8x 7.9x 8.0x 8.1x 8.2x 8.3x 8.4x 8.5x 8.6x 8.7x 2022E 775 5.9x 6.9x 7.0x 7.1x 7.2x 7.2x 7.3x 7.4x 7.5x 7.6x 2021E $690 6.7x 7.8x 7.9x 8.0x 8.0x 8.1x 8.2x 8.3x 8.4x 8.5x 2022E 748 6.2x 7.2x 7.2x 7.3x 7.4x 7.5x 7.6x 7.7x 7.8x 7.9x Consensus Mgmt. RETURN Analysis at Various Prices Source: Management projections, company filings, Wall Street research and FactSet as of November 22, 2021. Note: Dollars in millions, except per share values.

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19 Fiscal Year Ending December 31, 2021E 2022E 2023E 2024E 2025E 2026E Net Sales $5,458 $6,235 $6,601 $6,947 $7,318 $7,767 % Growth 22% 14% 6% 5% 5% 6% Gross Profit $1,149 $1,267 $1,421 $1,575 $1,745 $1,938 % Margin 21% 20% 22% 23% 24% 25% Operating Income $385 $469 $569 $666 $772 $893 % Margin 7% 8% 9% 10% 11% 11% Net Income $137 $277 $316 $410 $485 $569 % Margin 3% 4% 5% 6% 7% 7% Diluted Earnings per Share $1.08 $2.18 $2.49 $3.24 $3.82 $4.49 Adjusted EBITDA $675 $775 $880 $981 $1,090 $1,216 % Margin 12% 12% 13% 14% 15% 16% Unlevered Free Cash Flow $251 $427 $548 $585 $638 $705 % Margin 5% 7% 8% 8% 9% 9% Source: Management projections provided on November 3, 2021. Note: Dollars in millions, except per share figures. (1) Excludes $865mm gain on sale of IMP and DBCI business units. (2) Includes stock-based compensation as an expense. (3) Includes pre-tax cash settlement of $75mm. (1) (1) (1) (2) (3) RETURN Management Plan – Base Case (2022 Trends Continue)

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20 Source: Management projections provided on November 3, 2021. Note: Dollars in millions. RETURN Management Plan – Base Case (2022 Trends Continue) Segment Detail Fiscal Year Ending December 31, CAGR 2021E 2022E 2023E 2024E 2025E 2026E '21E-'23E '21E-'26E Windows Segment $2,488 $2,836 $2,966 $3,080 $3,244 $3,451 9% 7% % Growth 19% 14% 5% 4% 5% 6% Commercial Segment 1,584 1,961 2,102 2,220 2,304 2,379 15% 8% % Growth 31% 24% 7% 6% 4% 3% Siding Segment 1,386 1,641 1,736 1,850 1,972 2,139 12% 9% % Growth 20% 18% 6% 7% 7% 8% Corporate Risk Adjustment -- (203) (203) (203) (203) (203) Total Net Sales $5,458 $6,235 $6,601 $6,947 $7,318 $7,767 10% 7% % Growth 22% 14% 6% 5% 5% 6% Windows Segment $479 $557 $626 $695 $780 $878 14% 13% % Margin 19% 20% 21% 23% 24% 25% Commercial Segment 371 406 455 500 540 579 11% 9% % Margin 23% 21% 22% 23% 23% 24% Siding Segment 381 438 477 521 569 628 12% 10% % Margin 28% 27% 27% 28% 29% 29% Corporate Risk Adjustment (82) (134) (137) (141) (144) (148) Total Gross Profit $1,149 $1,267 $1,421 $1,575 $1,745 $1,938 11% 11% % Margin 21% 20% 22% 23% 24% 25% Windows Segment $295 $360 $408 $456 $517 $589 18% 15% % Margin 12% 13% 14% 15% 16% 17% Commercial Segment 234 264 299 330 354 376 13% 10% % Margin 15% 13% 14% 15% 15% 16% Siding Segment 278 324 352 383 417 460 12% 11% % Margin 20% 20% 20% 21% 21% 22% Corporate Risk Adjustment (133) (172) (179) (187) (198) (209) Total Adj. EBITDA $675 $775 $880 $981 $1,090 $1,216 14% 12% % Growth 22% 15% 14% 11% 11% 12% % Margin 12% 12% 13% 14% 15% 16%

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21 Comparison of RETURN Management Forecasts Net Sales Adj. EBITDA Unlevered Free Cash Flow(1)(2) Source: Management projections provided on November 3, 2021. Note: Dollars in millions. (1) Includes stock-based compensation as an expense. (2) Includes pre-tax cash settlement of $75mm in 2022E. Base Case (2022 Trends Continue) Upside Case (Accelerated Growth) Downside Case (Includes Recession) $6,235 $6,601 $6,947 $7,318 $7,767 $6,349 $6,865 $7,408 $7,981 $8,702 $5,458 $6,061 $6,290 $6,346 $6,443 $6,749 $5,000 $5,500 $6,000 $6,500 $7,000 $7,500 $8,000 $8,500 $9,000 2021E 2022E 2023E 2024E 2025E 2026E % Growth % Margin Upside Case (Accelerated Growth) 22% 16% 8% 8% 8% 9% Base Case (2022 Trends Continue) 22% 14% 6% 5% 5% 6% Downside (Includes Recession) 22% 11% 4% 1% 2% 5% 2021E 2022E 2023E 2024E 2025E 2026E % Margin % Margin Upside Case (Accelerated Growth) 12% 14% 15% 16% 18% 19% Base Case (2022 Trends Continue) 5% 7% 8% 8% 9% 9% Downside (Includes Recession) 5% 10% 5% 7% 8% 8% % Margin Upside Case (Accelerated Growth) 5% 7% 9% 10% 10% 11% Base Case (2022 Trends Continue) 5% 7% 8% 8% 9% 9% Downside (Includes Recession) 5% 7% 8% 8% 8% 8% Key Case Drivers . Pricing net of inflation (e.g., above / flat) . Retained pricing in deflationary period . 2024 recession for Windows/Siding . 2025 recession for Commercial Key Case Drivers . Volume leverage from investments in growth, automation and IT initiatives . Right-sized cost structure (e.g., labor) Key Case Drivers . Upside Case (Accelerated Growth) reflects right-sized investment levels (e.g., higher capex spend due to more favorable growth and cost- out initiatives RETURN Management has created additional operating cases for use in the financial analysis presented herein $775 $880 $981 $1,090 $1,216 $861 $1,035 $1,218 $1,410 $1,628 $675 $692 $755 $798 $853 $943 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 $1,800 2021E 2022E 2023E 2024E 2025E 2026E $427 $548 $585 $638 $705 $473 $634 $723 $834 $957 $251 $414 $503 $529 $547 $572 $-- $200 $400 $600 $800 $1,000 $1,200 $1,400 $1,600 $1,800 2021E 2022E 2023E 2024E 2025E 2026E

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22 Discounted Cash Flow Analysis – Upside Case (Accelerated Growth) & Downside Case (Includes Recession) Source: Management projections provided on November 3, 2021. Note: Implied share prices rounded to the nearest $0.25. Downside Case (Includes Recession) Implied Share Price Upside Case (Accelerated Growth) Implied Share Price Implied Terminal Multiple Implied Terminal Multiple Downside Case (Includes Recession) Discount Terminal Multiple Rate 1.75% 2.13% 2.50% 10.5% $26.50 $28.00 $29.50 11.5% 22.00 23.25 24.25 12.5% 18.50 19.50 20.25 Discount Terminal Multiple Rate 2.25% 2.63% 3.00% 10.5% $59.75 $62.50 $65.75 11.5% 51.00 53.25 55.50 12.5% 44.00 45.75 47.50 Discount Terminal Multiple Rate 2.25% 2.63% 3.00% 10.5% 7.2x 7.5x 7.9x 11.5% 6.4x 6.7x 7.0x 12.5% 5.8x 6.0x 6.3x Discount Terminal Multiple Rate 1.75% 2.13% 2.50% 10.5% 6.3x 6.6x 7.0x 11.5% 5.7x 5.9x 6.2x 12.5% 5.1x 5.3x 5.6x

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23 Unlevered Free Cash Flow Build Fiscal Year Ended December 31, Terminal ($ in millions) Q4 2021E 2022E 2023E 2024E 2025E 2026E Year Revenue $1,430 $6,061 $6,290 $6,346 $6,443 $6,749 $6,749 % Growth 20% 11% 4% 1% 2% 5% Adj. EBITDA (less: SBC)(1) $174 $673 $736 $779 $834 $924 $924 % Margin 12% 11% 12% 12% 13% 14% 14% (Less): D&A(2) (65) (284) (289) (293) (296) (301) (135) EBIT $110 $388 $448 $486 $538 $623 $789 (Less): Taxes (25) (124) (143) (155) (172) (199) (252) NOPAT $84 $264 $304 $330 $366 $423 $536 Plus: D&A(2) 65 284 289 293 296 301 135 Plus / (Less): Change in NWC 41 (65) 36 33 14 (18) (25) (Less): CapEx (24) (121) (126) (127) (129) (135) (135) Plus: Cash Settlement (tax adj.) -- 51 -- -- -- -- -- Unlevered Free Cash Flow $165 $414 $503 $529 $547 $572 $512 Implied Share Price Implied Terminal Multiple Source: Management projections provided on November 3, 2021. Note: Dollars in millions, except per share items. Implied share prices rounded to nearest $0.25. (1) Adjusted EBITDA includes stock-based compensation as a cash expense. (2) D&A includes ~$180mm of amortization through 2026. Terminal year assumes D&A equal to CapEx going forward. Discount Perpetuity Growth Rate Rate 1.75% 2.13% 2.50% 10.5% $26.50 $28.00 $29.50 11.5% 22.00 23.25 24.25 12.5% 18.50 19.50 20.25 Discount Perpetuity Growth Rate Rate 1.75% 2.13% 2.50% 10.5% 6.3x 6.6x 7.0x 11.5% 5.7x 5.9x 6.2x 12.5% 5.1x 5.3x 5.6x Discounted Cash Flow Analysis – Downside Case (Includes Recession)

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24 CY ’21E–’22E Rev. Growth CY ’22E EBITDA Margin CY ’21E–’22E EBITDA Growth Benchmarking RETURN’s Financial Metrics vs. Peers Source: Company filings, Management projections and FactSet as of November 22, 2021. Base, Upside and Downside scenarios based on Management projections provided on November 3, 2021. Note: Percentiles exclude RETURN. Consensus EBITDA is unburdened for stock-based compensation. Net leverage based on LTM values. Base Case (2022 Trends Continue) Upside Case (Accelerated Growth) Downside Case (Includes Recession) Peers RETURN Per Management Projections RETURN (Consensus) RETURN (Consensus) RETURN (Consensus) Peer Mean 25th Percentile Peer Median 75th Percentile Net Leverage RETURN (Consensus) Base Case (2022 Trends Continue) Upside Case (Accelerated Growth) Downside Case (Includes Recession) Base Case (2022 Trends Continue) Upside Case (Accelerated Growth) Downside Case (Includes Recession) Base Case (2022 Trends Continue) Upside Case (Accelerated Growth) Downside Case (Includes Recession) Peer Mean 25th Percentile Peer Median 75th Percentile Peer Mean 25th Percentile Peer Median 75th Percentile Peer Mean 25th Percentile Peer Median 75th Percentile N / A 7% 9% 7% 7% 19% 10% 7% 7% 7% 5% 16% 14% 11% 17% 15% 15% 11% 23% 17% 15% 12% 11% 10% 14% 12% 11% 15% 14% 12% 11% 27% 15% 12% 11% 8% 3% 28% 15% 3% 2.9x 2.3x 2.5x 1.2x 3.5x 3.5x 2.9x 2.5x 1.2x 1.2x

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25 Historical Multiples L5Y L3Y LTM Mean Mean Mean Current RETURN 7.2x 7.0x 7.0x 6.2x Peers 8.0x 7.8x 7.9x 7.6x Δ vs. Peers (0.9x) (0.8x) (0.9x) (1.4x) 4.0x 6.0x 8.0x 10.0x 12.0x Nov-16 Nov-17 Nov-18 Nov-19 Nov-20 Nov-21 $0 $5 $10 $15 $20 $25 $30 $35 Nov-16 Nov-17 Nov-18 Nov-19 Nov-20 Nov-21 Historical RETURN Trading and Valuation vs. Peers Source: FactSet and Wall Street research as of November 22, 2021. Note: EBITDA is unburdened for stock-based compensation. Peers consist of American Woodmark, Jeld-Wen, Masonite International, Owens Corning and PGT Innovations. RETURN Valuation vs. Peers (EV / NTM EBITDA) 6.2x 7.6x 8.3x 8.3x Current: $17.23 (0%) COPY Offer: $23.00 +63% RETURN Share Price Performance vs. Peers Peer Group Mean RETURN Δ vs. Peers Δ: (0.0x) Δ: (1.4x) Historical Returns L5Y L3Y YTD RETURN (0%) +54% +86% Peers +63% +76% +13%

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26 Outlook Valuation 2022E '20A-'22E % Prem. EV / 2022E 2022E EBITDA EBITDA Broker Price Target To Current Base Year EBITDA Revenue EBITDA Margin CAGR 45% 2022E 7.7x $6,109 $748 12.2% 11.0% 45% 2022E 7.5x 5,867 735 12.5% 10.1% 33% 2022E 6.5x 6,119 767 12.5% 12.4% 10% 2022E 7.0x 5,706 731 12.8% 9.7% Median 39% 7.3x $5,988 $742 12.5% 10.6% Operating Metrics $25 $25 $23 $19 $24 – $10.00 $20.00 $30.00 Nov-19 May-20 Nov-20 May-21 Nov-21 Current Analyst Perspectives on RETURN RETURN Analyst Sentiment Over Time Buy Hold Buy Hold Sell RETURN Share Price Average Price Target $24.00 $17.23 (1) Source: Wall Street research as of November 22, 2021. (1) Based on RETURN’s share price of $17.23 as of November 22, 2021.

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27 RETURN Shareholder Overview Source: Public filings, CapitalIQ, Wall Street research and Factset as of November 22, 2021. Note: Dollars in millions. Cost basis calculated using FIFO method. (1) Based on 126.2mm basic shares outstanding as of November 2, 2021. Shareholder Mkt. Val ($mm) % of O/S (1) Shares Held Est. Avg. Cost Basis CD&R $1,070.7 49.2% 62,143,416 n.a. Golden Gate 129.0 5.9% 7,489,402 n.a. American Century Investments 72.1 3.3% 4,184,914 $16.13 BlackRock 67.2 3.1% 3,897,794 14.27 Vanguard 61.4 2.8% 3,566,418 11.41 Barrow, Hanley, Mewhinney & Strauss 48.4 2.2% 2,810,018 16.29 Guardian Point Capital 34.5 1.6% 2,000,000 7.85 Russell Investments 33.9 1.6% 1,968,223 15.93 DNB Asset Management 29.0 1.3% 1,684,037 8.45 Dimensional Fund Advisors 25.5 1.2% 1,479,853 13.73 TIAA 24.8 1.1% 1,442,155 9.51 King Street 24.1 1.1% 1,400,000 15.22 Wolf Hill Capital 22.1 1.0% 1,283,639 10.58 American Beacon Advisors 22.0 1.0% 1,276,594 16.29 State Street Global Advisors 17.0 0.8% 988,796 15.68 RBF Capital 16.6 0.8% 962,997 5.76 James Metcalf 16.5 0.8% 956,482 n.a. Geode Capital Management 16.3 0.8% 948,279 13.39 J. Goldman & Co. 15.8 0.7% 919,882 12.00 Cooper Creek Partners 12.5 0.6% 723,893 15.10 Top 20 Holders $1,759.6 80.9% 102,126,792 $13.23 Top 20 Shareholders

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28 Premia Paid Analysis Premiums paid in precedent transactions Source: FactSet as of November 22, 2021. Note: Transactions exclude finance, real estate and insurance targets, as well as transactions with premiums greater than 200%. (1) Premium to unaffected share price for go-privates over the last 10 years involving U.S. public companies $1-10bn in transaction value. (2) Premium to unaffected share price for all-cash transactions over the last 10 years involving U.S. public companies $1-10bn in transaction value. (3) Based on RETURN’s share price of $17.23 as of November 22, 2021. (4) Represents implied share prices as a premium to RETURN’s 52-week high share price of $19.50 and 25th and 75th percentile premium for precedent transactions. (5) Represents implied share prices as a premium to RETURN’s 30-day VWAP of $15.30. Go-Private Premiums(1) All-Cash Premiums(2) Implied RETURN Sale Price(3) $20.11 $21.90 $22.54 $24.75 $27.37 Implied RETURN Sale Price(3) $20.44 $22.46 $23.92 $26.06 $29.58 16.7% 27.1% 30.8% 43.7% 58.9% 25th Percentile Median Mean 75th Percentile 90th Percentile 18.6% 30.3% 38.8% 51.2% 71.7% 25th Percentile Median Mean 75th Percentile 90th Percentile $17.92 $21.83 $17.24 $20.49 $23.57 $22.39 $19.36 $18.20 52-Week High(4) 30-Day VWAP(5)

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29 Debt / Unlevered Beta Equity 1.10 1.15 1.20 1.25 1.30 15% 11.0% 11.4% 11.7% 12.1% 12.4% 25% 10.8% 11.2% 11.5% 11.8% 12.2% 35% 10.6% 11.0% 11.3% 11.7% 12.0% 45% 10.5% 10.8% 11.2% 11.5% 11.8% Weighted Average Cost of Capital Analysis – RETURN Selected Public Companies Illustrative WACC IllustrativeWACC Sensitivity Source: Public company filings, Wall Street research, Bloomberg, S&P Capital IQ and FactSet as of November 22, 2021. Note: Dollars in millions. Companies sorted by market cap. (1) Represents adjusted two-year weekly beta relative to S&P 500. (2) Unlevered Beta equals (Levered Beta / (1 + (1 - Tax Rate) * (Debt / Equity)). Tax rate used is 25%. (3) Reflects median for Peer Observed. (4) Levered Beta equals (Unlevered Beta * (1 + (1 - Tax Rate) * (Debt / Equity)). Tax rate used is 25%. (5) Reflects yield on 20-year U.S. Treasury. (6) Reflects U.S. long-horizon equity risk premium per Duff & Phelps 2021 valuation handbook. (7) Reflects size premium for companies with market capitalizations between ~$1,592mm and ~$2,445mm per Duff & Phelps 2021 valuation handbook. (8) Peer Observed pre-tax cost of debt is based on the BB U.S. high-yield index effective yield per St. Louis Fed. RETURN Observed pre-tax cost of debt is based on yield to worst of RETURN’s senior notes due 2029. (9) WACC equals ((Debt / Capitalization * After-Tax Cost of Debt) + (Equity / Capitalization * Cost of Equity)). Market Debt Debt / Beta Company Cap ($mm) ($mm) Equity Levered(1) Unlevered(2) Owens Corning $9,365 $3,095 33% 1.47 1.17 Masonite 2,765 878 32% 1.58 1.27 JELD-WEN 2,457 1,822 74% 1.88 1.20 PGT Innovations 1,317 635 48% 1.52 1.12 American Woodmark 1,203 496 41% 1.71 1.30 75th Percentile 48% 1.71 1.27 Mean 46% 1.63 1.21 Median 41% 1.58 1.20 25th Percentile 33% 1.52 1.17 RETURN $2,201 $3,087 140% 2.03 0.99 Peer RETURN Observed Observed Unlevered Beta(3) 1.20 0.99 Debt / Equity(3) 41% 140% Levered Beta(4) 1.577 2.028 Risk-Free Rate(5) 2.0% 2.0% Market Risk Premium(6) 7.3% 7.3% Market Size Premium(7) 1.4% 1.4% Cost of Equity 14.8% 18.1% Pre-Tax Cost Of Debt(8) 3.45% 4.78% Tax Rate 25.0% 25.0% After-Tax Cost Of Debt 2.6% 3.6% % Equity 70.8% 41.6% % Debt 29.2% 58.4% Estimated WACC(9) 11.3% 9.6% For Reference Only

Exhibit (c)(3)

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December 14, 2021 Presentation to the Special Committee Project RETURN

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1 Disclaimer This presentation has been prepared by Centerview Partners LLC (“Centerview”) for use solely by the management and Special Committee of RETURN, Inc.(“RETURN”) in connection with its evaluation of a proposed transaction involving RETURN and for no other purpose. The information contained herein is based upon information supplied by or on behalf of RETURN and publicly available information, and portions of the information contained herein may be based upon statements, estimates and forecasts provided by RETURN. Centerview has relied upon the accuracy and completeness of the foregoing information, and has not assumed any responsibility for any independent verification of such information or for any independent evaluation or appraisal of any of the assets or liabilities (contingent or otherwise) of RETURN or any other entity, or concerning the solvency or fair value of RETURN or any other entity. With respect to financial forecasts, Centerview has assumed that such forecasts have been reasonably prepared on bases reflecting the best currently available estimates and judgments of the management of RETURN as to the future financial performance of RETURN, and at your direction Centerview has relied upon such forecasts, as provided by RETURN’s management, with respect to RETURN. Centerview assumes no responsibility for and expresses no view as to such forecasts or the assumptions on which they are based. The information set forth herein is based upon economic, monetary, market and other conditions as in effect on, and the information made available to us as of, the date hereof, unless indicated otherwise and Centerview assumes no obligation to update or otherwise revise these materials. The financial analysis in this presentation is complex and is not necessarily susceptible to a partial analysis or summary description. In performing this financial analysis, Centerview has considered the results of its analysis as a whole and did not necessarily attribute a particular weight to any particular portion of the analysis considered. Furthermore, selecting any portion of Centerview’s analysis, without considering the analysis as a whole, would create an incomplete view of the processunderlying its financial analysis. Centerview may have deemed various assumptions more or less probable than other assumptions, so the reference ranges resulting from any particular portion of theanalysis described above should not be taken to be Centerview’s view of the actual value of RETURN. These materials and the information contained herein are confidential, were not prepared with a view toward public disclosure, and may not be disclosed publicly or made available to third parties without the prior written consent of Centerview. These materials and any other advice, written or oral, rendered by Centervieware intended solely for the benefit and use of the management and Special Committee of RETURN (in its capacity as such) in its consideration of the proposed transaction, and are not for the benefit of, and do not convey any rights or remedies for any holder of securities of RETURN or any other person. Centerview will not be responsible for and has not provided any tax, accounting, actuarial, legal or other specialist advice. These materials are not intended to provide the sole basis for evaluating the proposed transaction, and this presentation does not represent a fairness opinion, recommendation, valuation or opinion of any kind, and is necessarily incomplete and should be viewed solely in conjunction with the oral presentation provided byCenterview.

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2 Situation Update . Following the Special Committee meeting on November 23, Management and Centerview have advanced several key workstreams with regards to the non-binding indication of interest from COPY, including: – Centerview communicated to COPY that the $23 per share offer is insufficient to transact – COPY requested business unit calls with RETURN from 3-6pm ET on Thursday, December 16 with the following attendees: • U.S. Windows: Art Steinhafel and Jim Keppler • U.S. Siding: John Buckley and Jim Keppler • Canada: Philip Langlois • Commercial: Matt Ackley and Jim Keppler – Management provided Centerview with a single operating case (referred to herein as the “Management Case”) to serve as the basis for analyses as the process progresses – Centerview’s financial analysis has been updated to reflect the Management Case . Today’s presentation materials include an overview of COPY’s most recent proposal, a RETURN shareholder basis analysis and Centerview’s updated financial analysis

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3 Table of Contents Section 1 ..................................................................................... Review of RETURN Management Plan Section 2 ........................................................................................ Recap of COPY’s 11/22/21 Proposal Section 3 .......................................................... Centerview’s Updated Preliminary Financial Analysis Appendix .............................................................................................................. Supplementary Materials

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Review of RETURN Management Plan 1

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5 12.5% 1.5% --% 0.5% 1.5% 16.0% 1.5% --% 0.5% 1.5% 22.1% 1.5% 1.5% --% 0.5% 11.4% 1.5% 1.5% --% 0.5% 2022E 2023E 2024E 2025E 2026E $60 $78 $62 $123 $115 $9 $18 $11 $30 $28 2022E 2023E 2024E 2025E 2026E Overview of RETURN Management Case Source: Management projections provided on December 3, 2021. Note: Dollars in millions. Growth Rates by Market Price Growth by Segment Strategic Sales ($mm) Net Manufacturing Efficiencies ($mm) . Assumes market decline for residential and commercial construction in 2024E and 2025E, respectively . 2022E price actions already in place . 2023E – 2026E net price inflation consistent with historical levels . Strategic sales initiatives currently underway include windows retail, Everplank, components residential roof, patio doors and fence and rail . RETURN Production System rolling out in second half of 2021 and 2022 . Manufacturing inefficiencies of $100mm+ in 2021 expected to be recovered 3.5% 1.5% (6.0%) 1.0% 1.0% 2.4% 2.6% 1.0% 2.0% 2.0% 4.5% 3.0% 1.0% (6.0%) 2.0% 2022E 2023E 2024E 2025E 2026E Residential SFHS Non-Residential Residential R&R U.S. Windows Buildings U.S. Siding Components Net Sales EBITDA % Margin 15% 22% 18% 25% 24% $40 $77 $67 $75 $78 2022E 2023E 2024E 2025E 2026E

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6 Summary of RETURN Management Case Source: Management projections provided on December 3, 2021. Note: Dollars in millions (1) Includes stock-based compensation as an expense. (2) Includes a $75mm payment from a settlement agreement filed on August 25, 2021 between parties to a class action complaint filed on November 14, 2018. The settlement remains subject to court approval. RETURN’s counsel believes that the likelihood of approval of the settlement is over 95%. Net Sales Adjusted EBITDA Unlevered Free Cash Flow(1) % Growth (5%) 22% 14% 5% 0% 1% 5% $4,693 $4,457 $5,458 $6,235 $6,562 $6,572 $6,660 $6,972 2019A 2020A 2021E 2022E 2023E 2024E 2025E 2026E % Growth 6% 22% 15% 12% 3% 5% 9% % Margin 11% 12% 12% 12% 13% 14% 14% 15% $523 $555 $675 $775 $872 $898 $940 $1,027 2019A 2020A 2021E 2022E 2023E 2024E 2025E 2026E % Growth 97% (42%) 70% 29% 7% 1% 4% % Margin 5% 10% 5% 7% 8% 9% 9% 9% $221 $434 $251 $427 $549 $587 $590 $612 2019A 2020A 2021E 2022E 2023E 2024E 2025E 2026E ‘21E-‘23E CAGR: 10% ‘21E-‘26E CAGR: 5% ‘21E-‘23E CAGR: 14% ‘21E-‘26E CAGR: 9% ‘21E-‘23E CAGR: 48% ‘21E-‘26E CAGR: 19% (2)

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7 $427 $548 $585 $638 $705 $473 $634 $723 $834 $957 $251 $414 $503 $529 $547 $572 $427 $549 $587 $590 $612 $100 $300 $500 $700 $900 $1,100 2021E 2022E 2023E 2024E 2025E 2026E $6,235 $6,601 $6,947 $7,318 $7,767 $6,349 $6,865 $7,408 $7,981 $8,702 $5,458 $6,061 $6,290 $6,346 $6,443 $6,749 $6,235 $6,562 $6,572 $6,660 $6,972 $5,000 $5,500 $6,000 $6,500 $7,000 $7,500 $8,000 $8,500 $9,000 2021E 2022E 2023E 2024E 2025E 2026E % Growth % Margin Case 2021E 2022E 2023E 2024E 2025E 2026E Upside 22% 16% 8% 8% 8% 9% Base 22% 14% 6% 5% 5% 6% Management 22% 14% 5% 0% 1% 5% Downside 22% 11% 4% 1% 2% 5% $775 $880 $981 $1,090 $1,216 $861 $1,035 $1,218 $1,410 $1,628 $675 $692 $755 $798 $853 $943 $775 $872 $898 $940 $1,027 $500 $700 $900 $1,100 $1,300 $1,500 $1,700 2021E 2022E 2023E 2024E 2025E 2026E Comparison of RETURN Management Case vs. Prior Cases Net Sales Adj. EBITDA Unlevered Free Cash Flow(1)(2) Source: Management projections provided on December 3, 2021. Note: Dollars in millions. (1) Includes stock-based compensation as an expense. (2) Includes a $75mm payment from a settlement agreement filed on August 25, 2021 between parties to a class action complaint filed on November 14, 2018. The settlement remains subject to court approval. RETURN’s counsel believes that the likelihood of approval of the settlement is over 95%. Base Case (2022 Trends Continue) Upside Case (Accelerated Growth) Downside Case (Includes Recession) Management Case % Margin % Margin Case 2021E 2022E 2023E 2024E 2025E 2026E Upside 12% 14% 15% 16% 18% 19% Base 12% 12% 13% 14% 15% 16% Management 12% 12% 13% 14% 14% 15% Downside 12% 11% 12% 13% 13% 14% % Margin Case 2021E 2022E 2023E 2024E 2025E 2026E Upside 5% 7% 9% 10% 10% 11% Base 5% 7% 8% 8% 9% 9% Management 5% 7% 8% 9% 9% 9% Downside 5% 7% 8% 8% 8% 8%

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Recap of COPY’s 11/22/21 Proposal 2

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9 Updated Value Communicated by COPY on November 22, 2021 Price per Share Implied Valuation Implied Premia . $23.00 per share, after communicating consideration of an initial offer of $22.00 on November 12 – Implies an increase of 4.5% . 50.7% to current share price of $15.26 . 42.2% to 30-day VWAP of $16.18 . 46.2% to 90-day VWAP of $15.73 . 75.3% to 1-year VWAP of $13.12 . 17.9% to 52-week high of $19.50(1) Reflects Management Case: . 7.9x 2021E EBITDA . 6.9x 2022E EBITDA Summary Financials Source: Management projections provided on December 3, 2021. Company filings and FactSet as of December 13, 2021. Note: Dollars in millions, except per share amounts. (1) Reflects closing share price trading levels. (2) RETURN balance sheet and share count reflect the company’s latest filings. Overview COPY Current Proposal Implied Valuation Share Price $15.26 $23.00 % Premium to Current – 50.7% Diluted Shares Outstanding(2) 127.5 128.2 Equity Value $1,946 $2,948 Less: Cash(2) (677) (677) Plus: Debt(2) 3,087 3,087 Enterprise Value $4,356 $5,358 Implied Multiples Multiple: Metric: 2021E $690 6.3x 7.8x 2022E 748 5.8x 7.2x 2021E $675 6.5x 7.9x 2022E 775 5.6x 6.9x EV / EBITDA (Consensus) EV / EBITDA (Management) Consideration and Financing . 100% cash consideration . Financing discussions with Goldman Sachs and RBC reconfirmed COPY’s belief that 6x+ debt leverage was feasible for this transaction . Indebtedness would be incurred by a Holdco above the RETURN credit group following the merger – RETURN’s outstanding debt would stay in place

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10 $0 $5 $10 $15 $20 $25 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20 Dec-21 RETURN’s Historical Share Price Performance Source: FactSet and Wall Street research as of December 13, 2021. Note: M&A annotations only include transactions with a deal size greater than $100mm. (1) Reflects closing share price trading levels. $15.70 $15.26 (3%) Jul. 17, 2018: NCI and Ply Gem announced merger Nov. 16, 2018: NCI and Ply Gem merger closed Jan. 17, 2019: Announced acquisition of Environmental Stoneworks Jul. 27, 2021: Announced divestiture of DBCI business Aug. 2, 2021: Announced acquisition of Cascade Windows Aug. 4, 2021: Announced CEO retirement and transition plan Aug. 9, 2021: Completed divestiture of IMP business RETURN’s Share Price Performance (Last 5 Years) Aug. 28, 2018: Ply Gem announced acquisition of Silver Line Division from Andersen Corporation Jun. 7, 2021: Announced divestiture of IMP business Nov. 9, 2021: Announced Q3’21 Earnings Implied Premia COPY Proposal Share Price $23.00 vs. Current ($15.26) 50.7% vs. 30-Day VWAP ($16.18) 42.2% vs. 90-Day VWAP ($15.73) 46.2% vs. 1-Year VWAP ($13.12) 75.3% vs. 52-Week High ($19.50) 17.9% vs. 52-Week Low ($9.10) 152.7% (1) (1) COPY Offer: $23.00 Feb. 19, 2020: Pre-COVID trading

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11 Limited Trading Float Potentially Weighing on Valuation Source: Company filings and FactSet as of December 13, 2021. Float as a % of Basic Shares Outstanding 99% 98% 98% 96% 80% 42% OC AMWD DOOR PGTI JELD CNR ADTV as % of BSO: Top Shareholder: Top 10 Shareholders: 0.80% 0.56% 0.52% 0.38% 0.55% 0.48% 9.7% 15.0% 9.7% 14.2% 15.8% 49.2% Vanguard BlackRock Vanguard BlackRock Fidelity COPY 41.3% 57.2% 50.7% 60.2% 72.6% 71.7% RETURN

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12 RETURN Shareholder Basis Analysis Source: Public filings, CapitalIQ, Wall Street research and FactSet as of December 13, 2021. Note: Dollars in millions. Cost basis calculated using FIFO method. List of shareholders excludes COPY, Golden Gate Capital and RETURN Executive Chairman James Metcalf. (1) Based on 126.2mm basic shares outstanding as of November 2, 2021. (2) Estimated cost basis of 23mm of retained shares from COPY’s 2009 investment in NCI is based on NCI’s Q3’09 10-Q filing. Estimated cost basis of 39mm of newly issued shares from NCI’s merger with Ply Gem is based on NCI’s share price of $12.16 as of November 16, 2018 – the last closing price before the merger closed. Shareholder Mkt. Val ($mm) % of O/S (1) Shares Held Est. Avg. Cost Basis American Century Investments $63.9 3.3% 4,184,914 $16.13 BlackRock 59.5 3.1% 3,897,794 14.27 Vanguard 54.4 2.8% 3,566,418 11.41 Barrow, Hanley, Mewhinney & Strauss 42.9 2.2% 2,810,018 16.29 Guardian Point Capital 30.5 1.6% 2,000,000 7.85 Russell Investments 30.0 1.6% 1,968,223 15.93 DNB Asset Management 25.7 1.3% 1,684,037 8.45 Dimensional Fund Advisors 22.6 1.2% 1,479,853 13.73 TIAA 22.0 1.1% 1,442,155 9.51 King Street 21.4 1.1% 1,400,000 15.22 Wolf Hill Capital 19.6 1.0% 1,283,639 10.58 American Beacon Advisors 19.5 1.0% 1,276,594 16.29 State Street Global Advisors 15.1 0.8% 988,796 15.68 RBF Capital 14.7 0.8% 962,997 5.76 Geode Capital Management 14.5 0.8% 948,279 13.39 J. Goldman & Co. 14.0 0.7% 919,882 12.00 Cooper Creek Partners 11.0 0.6% 723,893 15.10 Soviero Asset Management 10.4 0.5% 680,000 16.15 Voss Capital 9.9 0.5% 650,000 14.74 Invesco Capital Management 9.8 0.5% 645,431 16.03 Top 20 Holders (Excl. Insiders) $511.4 26.6% 33,512,956 $13.37 Reference: COPY $948.3 49.2% 62,143,416 $1.28 / $12.16 Top 20 Shareholders (Excluding COPY, Golden Gate Capital and Other Insiders) (2) Note: COPY’s estimated cost basis is based on 23mm of retained shares from their $250mm investment in NCI in 2009 ($1.28) and 39mm of newly issued shares following NCI’s merger with Ply Gem ($12.16)

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Centerview’s Updated Preliminary Financial Analysis 3

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14 Source: Company filings, press releases, CapIQ, FactSet and Management projections provided on December 3, 2021. Note: Market data as of December 13, 2021. (1) Based on RETURN’s share price of $15.26 as of December 13, 2021, 30-day VWAP of $16.18 and 52-week high of $19.50. . Selected publicly-traded comparable companies in the building products sector . Valuation multiples based on Enterprise Value / CY 2022E EBITDA . Multiples applied to RETURN’s 2022E EBITDA per Wall Street consensus and RETURN Management Case . Based on RETURN Management Case . Perpetuity growth rate of 1.75% - 2.50% . Weighted average cost of capital (“WACC”) range of 10.5% - 12.5% . Selected precedent M&A transactions in the building products sector – Includes transactions completed with U.S. targets in the last 5 years (deal size greater than $1bn) . Multiples applied to RETURN’s LTM EBITDA as of October 2, 2021 . RETURN’s closing share price trading levels over the last 52 weeks 52-Week Trading Range Selected Precedent Transactions Analysis Discounted Cash Flow (DCF) Analysis For Reference Only . Range of current Wall Street analyst price targets for RETURN Analyst Price Targets Selected Public Company Analysis Premia Paid Analysis . Range of premia paid on selected take-private transactions – Includes transactions completed with U.S. targets in the last 10 years (deal size between $1bn and $10bn) . Premia applied to RETURN’s current share price, 30-day VWAP and 52-week high(1) Overview of Centerview’s Preliminary Financial Analysis

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15 $16.25 $15.25 $24.50 $22.00 $9.10 $19.00 $17.75 $18.25 $17.75 $23.75 $22.25 $37.25 $34.00 $19.50 $25.00 $22.00 $21.50 $21.75 – $10.00 $20.00 $30.00 $40.00 Source: Management projections provided on December 3, 2021, FactSet as of December 13, 2021 and Wall Street research. Note: Dollars in millions, except per share figures. Implied share prices rounded to the nearest $0.25. Market data as of December 13, 2021. (1) Implied share price calculated as implied enterprise value less $2.4bn of net debt, consisting of $3.1bn of debt and $0.7bn of cash, per RETURN’s Q3’21 10-Q, divided by fully diluted shares outstanding. Fully diluted shares outstanding based on 126.2mm basic shares and 3.2mm stock options with an weighted average exercise price of $8.95. EBITDA is unburdened for stock-based compensation. 52-Week Trading Range Selected Public Comparables Selected Precedent Transactions Implied Share Price(1) LTM (as of 10/02/21) LTM EBITDA: $651mm Multiple: 8.5x - 11.0x Management Case 10.5% - 12.5% WACC 1.75% - 2.50% PGR Closing Price Low - High Management Case 2022E EBITDA: $775mm Multiple: 5.8x - 7.0x Price as of 12/13/21: $15.26 Analyst Price Targets Price Target Low - High For Reference Only DCF Analysis Premia Paid Analysis Implied Price Current Share Price: $15.26 Premium: 16.5% - 43.5% COPY Offer on 11/22/21: $23.00 Preliminary Financial Analysis Implied Price 30-Day VWAP: $16.18 Premium: 13.1% - 33.6% Implied Price 52-Week High: $19.50 Premium: (9.1%) - 12.0% Wall Street Consensus 2022E EBITDA: $748mm Multiple: 5.8x - 7.0x

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16 Selected Public Trading Comparables Source: Company filings and FactSet as of December 13, 2021. Note: Dollars in billions. EBITDA is unburdened for stock-based compensation. All figures are based on RETURN fiscal year ending December 31. Companies sorted by equity value. Revenue EBITDA EBITDA Net Equity Enterprise EV / EBITDA Growth Growth Margin Leverage Company Value Value 2022E '21E - '22E '21E - '22E 2022E LTM Owens Corning $9.3 $11.5 5.8x 5% 3% 23% 1.1x Masonite 2.8 3.3 7.0x 7% 12% 17% 1.2x JELD-WEN 2.4 3.8 6.9x 7% 15% 11% 2.9x PGT Innovations 1.3 1.9 8.9x 19% 27% 15% 3.5x American Woodmark 1.1 1.6 8.0x 7% 11% 10% 2.8x Median $2.4 $3.3 7.0x 7% 12% 15% 2.8x RETURN (Consensus) $1.9 $4.4 5.8x 10% 8% 12% 3.5x RETURN (Management Plan) $1.9 $4.4 5.6x 14% 15% 12% 3.5x

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17 Target EV / LTM Target's LTM Financials Date Acquiror Company EV Sales EBITDA Sales EBITDA Margin 7/19/21 Carlisle Companies Henry $1,575 3.1x 13.2x $511 $119 23.3% 6/20/21 Westlake Chemical Boral's N.A. Building Products 2,150 2.0x ~10.4x 1,100 ~206 ~19.0% 6/7/21 Nucor Cornerstone's Insulated Metal Panels 1,000 2.6x 13.3x 389 75 19.3% 11/15/19 ACPI Masco Cabinetry 1,000 1.1x 9.8x 950 102 10.7% 11/12/19 Saint-Gobain Continental Building Products 1,434 2.8x 10.4x 514 138 26.8% 7/17/18 NCI Ply Gem 3,700 1.4x 10.9x 2,649 341 12.9% 1/31/18 CD&R Ply Gem 2,400 1.2x 9.7x 2,056 246 12.0% 12/1/17 American Woodmark RSI Home Products 1,075 1.9x 8.7x 560 123 22.0% Median 1.9x 10.4x 19% Mean 2.0x 10.8x 18% Source: Company press releases, news articles, Wall Street research, CapIQ and FactSet. Note: EBITDA is unburdened for stock-based compensation. Transaction multiples represent approximate figures due to lack of disclosures. Multiples are on LTM basis unless otherwise noted. (1) Reflects midpoint of Westlake’s disclosure on acquisition call. Stock-based compensation reflects segment’s sales contribution. (2) Represents FY’18A figures. Stock-based compensation reflects segment’s sales contribution. (3) Represents FY’18E figures per merger proxy. Assumes stock-based compensation reflects FY’17A stock-based compensation as a percentage of FY’17A sales. Selected acquisitions of U.S. building products companies over the last 5 years with a deal size greater than $1bn (2) (1) (2) (2) (2) (3) (3) (3) (3) Selected Precedent Transactions (1)

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18 Discounted Cash Flow Analysis – Management Case Source: Management projections provided on December 3, 2021. Note: Dollars in millions, except per share items. Implied share prices rounded to nearest $0.25. (1) Adjusted EBITDA includes stock-based compensation as a cash expense. (2) D&A includes ~$180mm of amortization through 2026. Terminal year assumes D&A equal to CapEx going forward. Unlevered Free Cash Flow Build Fiscal Year Ended December 31, Terminal ($ in millions) Q4 2021E 2022E 2023E 2024E 2025E 2026E Year Revenue $1,430 $6,235 $6,562 $6,572 $6,660 $6,972 $6,972 % Growth 20% 14% 5% 0% 1% 5% Adj. EBITDA (less: SBC)(1) $174 $755 $852 $878 $920 $1,007 $1,007 % Margin 12% 12% 13% 13% 14% 14% 14% (Less): D&A(2) (65) (284) (289) (293) (296) (301) (174) EBIT $110 $471 $563 $585 $623 $706 $833 (Less): Taxes (25) (141) (169) (176) (187) (212) (250) NOPAT $84 $329 $394 $410 $436 $494 $583 Plus: D&A(2) 65 284 289 293 296 301 174 Plus / (Less): Change in NWC 41 (83) 30 49 24 (9) (16) (Less): CapEx (24) (156) (164) (164) (166) (174) (174) Plus: Cash Settlement (tax adj.) -- 53 -- -- -- -- -- Unlevered Free Cash Flow $165 $427 $549 $587 $590 $612 $567 Implied Share Price Implied Terminal Multiple Discount Perpetuity Growth Rate Rate 1.75% 2.13% 2.50% 10.5% $30.75 $32.25 $34.00 11.5% 26.00 27.00 28.50 12.5% 22.00 23.00 24.00 Discount Perpetuity Growth Rate Rate 1.75% 2.13% 2.50% 10.5% 6.4x 6.7x 7.1x 11.5% 5.8x 6.0x 6.3x 12.5% 5.2x 5.4x 5.7x

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Appendix Supplementary Materials

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20 NTM EV / EBITDA Multiple RETURN Current (5.8x) 3-Yr RETURN Average (6.9x) Illustr. Cost Undiscounted Future Share Price (2022E) of Equity $25.35 $32.80 13.5% $22.20 $28.70 15.5% 21.80 28.20 17.5% 21.40 27.70 $21.40 $21.80 $15.26 $27.70 $27.35 $10 $20 $30 $40 $50 Current 2022 2023 $25.35 $30.35 $15.26 $32.80 $38.05 $10 $20 $30 $40 $50 Current 2022 2023 Illustrative Future Share Price Present Value of Illustrative Future Share Price(3) Source: FactSet as of December 13, 2021 and Management projections provided on December 3, 2021. Note: Diluted shares in millions. Future share prices as of year-end. Share prices rounded to nearest $0.05. (1) NTM multiple based on RETURN 3-year average. (2) Reflects Wall Street consensus. (3) Illustrative future share price discounted at 17.5% based on RETURN’s cost of equity per RETURN observed figures. Present Value of YE 2022 Share Price Sensitivity RETURN Mgmt. Plan at Current 5.8x NTM Multiple RETURN Mgmt. Plan at 3-Year Avg. 6.9x NTM Multiple(1) Memo: NTM EBITDA $745 $872 $898 Net Debt 2,410 1,860 1,376 Dil. Shares 127.5 127.5 127.5 Future Share Price Breakeven Analysis: Management Case Analysis represents illustrative future share price assuming a range of EV / NTM EBITDA multiples applied to RETURN Management Case projections (2)

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21 Take-Private Considerations Source: Management projections provided on December 3, 2021. Note: Dollars in millions, except per share values. Implied share prices rounded to the nearest $0.25. (1) Assumes debt paydown of $830mm from cash on hand. (2) Projected as of December 31, 2021. . Potential sponsor value will be based on the projections they are willing to underwrite . Sponsor projections may include additional value levers, with varying degrees of achievability as a private company: – Portfolio rationalization – Organic investment / cost-saving initiatives – Synergistic M&A – Business opportunities or synergistic combination with portfolio asset(s) Management Case Ability-to-Pay Analysis (Implied Share Price) Key Assumptions Exit Multiple Target IRR 5.75x 6.38x 7.00x 15.0% $30.00 $32.50 $35.25 17.5% 28.25 30.75 33.00 20.0% 27.00 29.00 31.00 22.5% 25.50 27.50 29.50 25.0% 24.50 26.25 28.00 Reflects Offer Price of $23.00 per Share, 6.0x Pro Forma Net Debt and Minimum Cash of $50mm Illustrative Sources & Uses Rate (x) EBITDA $mm % of Total Rollover of Existing Term Loan(1) L + 3.25% 2.6x $1,724 32% Rollover of Existing Senior Notes 6.125% 0.7x 500 9% New Unsecured Notes 8.00% 2.8x 1,875 35% Sponsor Equity -- 1.7x 1,173 22% RETURN Cash on Hand(1) -- 0.1x 50 1% Total Sources 7.9x $5,322 100% Uses (x) EBITDA $mm % of Total Equity Value ($23.00 Offer Price) 4.4x $2,948 55% Rollover of Existing RETURN Debt(1)(2) 3.3x 2,224 42% Transaction / Financing Fees 0.1x 100 2% Minimum Cash 0.1x 50 1% Total Uses 7.9x $5,322 100% Sources Assumes Exit at Year-End 2026E

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22 COPY 11/22 Metric Current Proposal Illustrative Offer Price per Share Offer Price $15.26 $23.00 $23.50 $24.00 $24.50 $25.00 $25.50 $26.00 $26.50 $27.00 Implied Premium / (Discount) vs. Current $15.26 --% 50.7% 54.0% 57.3% 60.6% 63.8% 67.1% 70.4% 73.7% 76.9% vs. 52-Week High $19.50 (21.7%) 17.9% 20.5% 23.1% 25.6% 28.2% 30.8% 33.3% 35.9% 38.5% vs.52-Week Low $9.10 67.7% 152.7% 158.2% 163.7% 169.2% 174.7% 180.2% 185.7% 191.2% 196.7% vs. 30-Day VWAP $16.18 (5.7%) 42.2% 45.3% 48.4% 51.5% 54.5% 57.6% 60.7% 63.8% 66.9% vs. 90-Day VWAP $15.73 (3.0%) 46.2% 49.4% 52.5% 55.7% 58.9% 62.1% 65.2% 68.4% 71.6% vs. 1-Year VWAP $13.12 16.3% 75.3% 79.1% 82.9% 86.8% 90.6% 94.4% 98.2% 102.0% 105.8% (x) DSO 127.5 128.2 128.2 128.2 128.3 128.3 128.3 128.3 128.3 128.4 Equity Value $1,946 $2,948 $3,013 $3,078 $3,142 $3,207 $3,272 $3,337 $3,401 $3,466 (+) Debt 3,087 3,087 3,087 3,087 3,087 3,087 3,087 3,087 3,087 3,087 (-) Cash (677) (677) (677) (677) (677) (677) (677) (677) (677) (677) Enterprise Value $4,356 $5,358 $5,423 $5,487 $5,552 $5,617 $5,682 $5,746 $5,811 $5,876 Implied EV / EBITDA Multiples 2021E $675 6.5x 7.9x 8.0x 8.1x 8.2x 8.3x 8.4x 8.5x 8.6x 8.7x 2022E 775 5.6x 6.9x 7.0x 7.1x 7.2x 7.2x 7.3x 7.4x 7.5x 7.6x 2021E $690 6.3x 7.8x 7.9x 8.0x 8.0x 8.1x 8.2x 8.3x 8.4x 8.5x 2022E 748 5.8x 7.2x 7.2x 7.3x 7.4x 7.5x 7.6x 7.7x 7.8x 7.9x Consensus Mgmt. Case RETURN Analysis at Various Prices Source: Management projections, company filings, Wall Street research and FactSet as of December 13, 2021. Note: Dollars in millions, except per share values.

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23 Fiscal Year Ending December 31, 2021E 2022E 2023E 2024E 2025E 2026E Net Sales $5,458 $6,235 $6,562 $6,572 $6,660 $6,972 % Growth 22% 14% 5% 0% 1% 5% Gross Profit $1,149 $1,267 $1,412 $1,474 $1,570 $1,723 % Margin 21% 20% 22% 22% 24% 25% Operating Income $385 $469 $561 $583 $621 $704 % Margin 7% 8% 9% 9% 9% 10% Net Income $137 $277 $310 $352 $398 $467 % Margin 3% 4% 5% 5% 6% 7% Diluted Earnings per Share $1.08 $2.18 $2.45 $2.78 $3.14 $3.68 Adjusted EBITDA (pre-SBC) $675 $775 $872 $898 $940 $1,027 % Margin 12% 12% 13% 14% 14% 15% Unlevered Free Cash Flow $251 $427 $549 $587 $590 $612 % Margin 5% 7% 8% 9% 9% 9% Source: Management projections provided on December 3, 2021. Note: Dollars in millions, except per share figures. (1) Excludes $865mm gain on sale of IMP and DBCI business units. (2) Includes stock-based compensation as an expense. (3) Includes a $75mm payment from a settlement agreement filed on August 25, 2021 between parties to a class action complaint filed on November 14, 2018. The settlement remains subject to court approval. RETURN’s counsel believes that the likelihood of approval of the settlement is over 95%. (2) (3) RETURN Management Case (1) (1) (1)

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24 Source: Management projections provided on December 3, 2021. Note: Dollars in millions. EBITDA excludes stock based compensation. RETURN Management Case Segment Detail Fiscal Year Ending December 31, CAGR 2021E 2022E 2023E 2024E 2025E 2026E '21E-'23E '21E-'26E Windows Segment $2,488 $2,836 $2,966 $2,899 $3,015 $3,159 9% 5% % Growth 19% 14% 5% (2%) 4% 5% Commercial Segment 1,584 1,961 2,063 2,155 2,039 2,090 14% 6% % Growth 31% 24% 5% 4% (5%) 2% Siding Segment 1,386 1,641 1,736 1,720 1,808 1,926 12% 7% % Growth 20% 18% 6% (1%) 5% 7% Corporate Risk Adjustment -- (203) (203) (203) (203) (203) Total Net Sales $5,458 $6,235 $6,562 $6,572 $6,660 $6,972 10% 5% % Growth 22% 14% 5% 0% 1% 5% Windows Segment $479 $557 $626 $648 $717 $795 14% 11% % Margin 19% 20% 21% 22% 24% 25% Commercial Segment 371 406 447 482 476 510 10% 7% % Margin 23% 21% 22% 22% 23% 24% Siding Segment 381 438 477 485 521 566 12% 8% % Margin 28% 27% 27% 28% 29% 29% Corporate Risk Adjustment (82) (134) (137) (141) (144) (148) Total Gross Profit $1,149 $1,267 $1,412 $1,474 $1,570 $1,723 11% 8% % Margin 21% 20% 22% 22% 24% 25% Windows Segment $295 $360 $408 $420 $466 $519 18% 12% % Margin 12% 13% 14% 14% 15% 16% Commercial Segment 234 264 291 311 297 313 12% 6% % Margin 15% 13% 14% 14% 15% 15% Siding Segment 278 324 352 353 376 406 12% 8% % Margin 20% 20% 20% 21% 21% 21% Corporate Risk Adjustment (133) (172) (179) (186) (199) (211) Total Adj. EBITDA $675 $775 $872 $898 $940 $1,027 14% 9% % Growth 22% 15% 12% 3% 5% 9% % Margin 12% 12% 13% 14% 14% 15%

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25 CY ’21E–’22E Rev. Growth CY ’22E EBITDA Margin CY ’21E–’22E EBITDA Growth Benchmarking RETURN’s Financial Metrics vs. Peers Source: Company filings, Management projections and FactSet as of December 13, 2021. Management Case based on Management projections provided on December 3, 2021. Note: Percentiles exclude RETURN. EBITDA is unburdened for stock-based compensation. Net leverage based on LTM values. Management Case Peers RETURN Per Management Projections RETURN (Consensus) RETURN (Consensus) RETURN (Consensus) Peer Mean 25th Percentile Peer Median 75th Percentile Net Leverage RETURN (Consensus) Peer Mean 25th Percentile Peer Median 75th Percentile Peer Mean 25th Percentile Peer Median 75th Percentile Peer Mean 25th Percentile Peer Median 75th Percentile Management Case Management Case 2.9x 2.3x 2.8x 1.2x 3.5x 3.5x 2.9x 2.8x 1.2x 1.1x 17% 15% 15% 11% 23% 17% 15% 12% 11% 10% 12% 15% 14% 12% 11% 27% 15% 12% 11% 8% 3% 15% 7% 9% 7% 7% 19% 10% 7% 7% 7% 5% 14% N / A Management Case

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26 CY ’19A–’21E Revenue CAGR CY ’19A-’21E EBITDA Margin Change (bps) CY ’19A–’21E EBITDA CAGR Benchmarking RETURN’s Financial Metrics vs. Peers (Cont.) Source: Company filings, Management projections and FactSet as of December 13, 2021. Management Case based on Management projections provided on December 3, 2021. Note: Percentiles exclude RETURN. EBITDA is unburdened for stock-based compensation. PGT Innovations’ financials are pro forma for the acquisitions of NewSouth Window Solutions and Anlin Windows and Doors. Management Case Peers RETURN Per Management Projections RETURN (Consensus) RETURN (Consensus) RETURN (Consensus) Peer Mean 25th Percentile Peer Median 75th Percentile Peer Mean 25th Percentile Peer Median 75th Percentile Peer Mean 25th Percentile Peer Median 75th Percentile Management Case Management Case 10% 9% 8% 6% 17% 10% 9% 8% 6% 5% 8% 21% 9% 7% 7% 22% 21% 15% 7% 7% (14%) 14% +300 +7 +36 (265) +458 +300 +127 +36 (265) (491) +122

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27 $0 $5 $10 $15 $20 $25 $30 $35 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20 Dec-21 Historical Multiples L5Y L3Y LTM Mean Mean Mean Current RETURN 7.1x 6.9x 6.9x 5.8x Peers 8.0x 7.7x 7.8x 7.4x Δ vs. Peers (0.8x) (0.8x) (0.9x) (1.5x) 4.0x 6.0x 8.0x 10.0x 12.0x Dec-16 Dec-17 Dec-18 Dec-19 Dec-20 Dec-21 Historical RETURN Trading and Valuation vs. Peers Source: FactSet and Wall Street research as of December 13, 2021. Note: EBITDA is unburdened for stock-based compensation. Peers consist of American Woodmark, Jeld-Wen, Masonite International, Owens Corning and PGT Innovations. RETURN Valuation vs. Peers (EV / NTM EBITDA) 5.8x 7.4x 7.7x 8.3x Current: $15.26 (3%) COPY Offer: $23.00 +56% RETURN Share Price Performance vs. Peers Peer Group Mean RETURN Δ vs. Peers Δ: (0.6x) Δ: (1.5x) Historical Returns L5Y L3Y YTD RETURN (3%) +47% +64% Peers +56% +93% +10%

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28 (3.4x) +0.1x +0.5x (1.0x) (2.1x) +0.9x +0.1x +1.2x (6%) 311% 215% 107% (48%) (43%) (92%) (42%) Benchmarking Performance in Recessions vs. Recovery Cycles Source: FactSet as of December 13, 2021. Note: Great Recession reflects Dec. 1, 2007 – July 1, 2009. Post Great Recession reflects Jan. 1, 2010 – Jan. 1, 2020. COVID Recession reflects Feb. 19, 2020 – May 1, 2020. Post COVID Recession reflects May 1, 2020 – Current. (1) Book value per share decreased from $7.46 as of December 31, 2019 to $2.76 as of April 4, 2020 due to an increase in accumulated deficit. Accumulated deficit totaled ~$281mm as of December 31, 2019 and ~$824mm as of April 4, 2020. (2) Peers consist of American Woodmark, Jeld-Wen, Masonite, Owens Corning and PGT Innovations. Total Shareholder Return Change in Price / Book Value Recession Cycles Recovery Cycles “Great Recession” “COVID Recession” Post “Great Recession” Post “COVID Recession” RETURN Peer Median(2) Book value decreased by ~60% due to a large increase in accumulated deficit(1)

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29 26% 24% 19% 16% (10%) 5% (38%) (9%) Benchmarking Performance in Recessions vs. Recovery Cycles (Cont.) Revenue CAGR Source: FactSet as of December 13, 2021. Note: Great Recession reflects Dec. 1, 2007 – July 1, 2009. Post Great Recession reflects Jan. 1, 2010 – Jan. 1, 2020. COVID Recession reflects Feb. 19, 2020 – May 1, 2020. Post COVID Recession reflects May 1, 2020 – Current. (1) Peers consist of American Woodmark, Jeld-Wen, Masonite, Owens Corning and PGT Innovations. RETURN Peer Median(1) 7% 11% 8% 4% 12% 16% 13% 15% Avg. EBITDA Margin Recession Cycles Recovery Cycles “Great Recession” “COVID Recession” Post “Great Recession” Post “COVID Recession”

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30 – $10.00 $20.00 $30.00 Dec-19 Jun-20 Dec-20 Jun-21 Dec-21 Outlook Valuation 2022E '20A-'22E % Prem. EV / 2022E 2022E EBITDA EBITDA Broker Price Target To Current Base Year EBITDA Revenue EBITDA Margin CAGR 64% 2022E 7.7x $6,109 $748 12.2% 11.0% 64% 2022E 7.5x 5,867 735 12.5% 10.1% 51% 2022E 6.5x 6,119 767 12.5% 12.4% 25% 2022E 7.0x 5,706 731 12.8% 9.7% Median 57% 7.3x $5,988 $742 12.5% 10.6% Operating Metrics $25 $25 $23 $19 $24 Current Analyst Perspectives on RETURN RETURN Analyst Sentiment Over Time Buy Hold Buy Hold Sell RETURN Share Price Median Price Target $24.00 $15.26 (1) Source: Wall Street research as of December 13, 2021. (1) Based on RETURN’s share price of $15.26 as of December 13, 2021.

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31 Premia Paid Analysis Premiums paid in precedent transactions Source: FactSet as of December 13, 2021. Note: Includes complete and pending transactions. Excludes finance, real estate and insurance targets, as well as transactions with premiums greater than 200%. (1) Premium to unaffected share price for go-privates over the last 10 years involving U.S. public companies $1-10bn in transaction value. (2) Premium to unaffected share price for all-cash transactions over the last 10 years involving U.S. public companies $1-10bn in transaction value. (3) Based on RETURN’s share price of $15.26 as of December 13, 2021. (4) Represents implied share prices based on RETURN’s 52-week high share price of $19.50 and related 25th and 75th percentile premiums for precedent transactions. (5) Represents implied share prices based on RETURN’s 30-day VWAP of $16.18 and related 25th and 75th percentile premiums for precedent transactions.. Go-Private Premiums(1) All-Cash Premiums(2) Implied RETURN Share Price(3) $17.77 $19.29 $20.05 $21.90 $24.45 Implied RETURN Share Price(3) $18.12 $19.90 $21.12 $23.08 $26.40 16.5% 26.4% 31.4% 43.5% 60.2% 25th Percentile Median Mean 75th Percentile 90th Percentile 18.7% 30.4% 38.4% 51.2% 73.0% 25th Percentile Median Mean 75th Percentile 90th Percentile $17.74 $21.84 $18.30 $21.61 $23.59 $23.68 $19.36 $19.29 52-Week High(4) 30-Day VWAP(5)

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32 Debt / Unlevered Beta Equity 1.10 1.15 1.20 1.25 1.30 10% 11.0% 11.3% 11.7% 12.0% 12.4% 20% 10.8% 11.1% 11.5% 11.8% 12.2% 30% 10.6% 11.0% 11.3% 11.6% 12.0% 40% 10.5% 10.8% 11.1% 11.5% 11.8% 50% 10.3% 10.7% 11.0% 11.3% 11.7% 60% 10.2% 10.6% 10.9% 11.2% 11.6% Weighted Average Cost of Capital Analysis – RETURN Selected Public Companies Illustrative WACC IllustrativeWACC Sensitivity Source: Public company filings, Wall Street research, Bloomberg, S&P Capital IQ and FactSet as of December 13, 2021. Note: Dollars in millions. Companies sorted by market cap. (1) Represents adjusted two-year weekly beta relative to S&P 500. (2) Unlevered Beta equals (Levered Beta / (1 + (1 - Tax Rate) * (Debt / Equity)). Tax rate used is 25%. (3) Reflects median for Peer Observed. (4) Levered Beta equals (Unlevered Beta * (1 + (1 - Tax Rate) * (Debt / Equity)). Tax rate used is 25%. (5) Reflects yield on 20-year U.S. Treasury. (6) Reflects U.S. long-horizon equity risk premium per Duff & Phelps 2021 valuation handbook. (7) Reflects size premium for companies with market capitalizations between ~$1,592mm and ~$2,445mm per Duff & Phelps 2021 valuation handbook. (8) Peer Observed pre-tax cost of debt is based on the BB U.S. high-yield index effective yield per St. Louis Fed. RETURN Observed pre-tax cost of debt is based on yield to worst of RETURN’s senior notes due 2029. (9) WACC equals ((Debt / Capitalization * After-Tax Cost of Debt) + (Equity / Capitalization * Cost of Equity)). Market Debt Debt / Beta Company Cap ($mm) ($mm) Equity Levered(1) Unlevered(2) Owens Corning $9,330 $3,095 33% 1.45 1.16 Masonite 2,784 878 32% 1.57 1.27 JELD-WEN 2,391 1,822 76% 1.85 1.18 PGT Innovations 1,259 635 50% 1.51 1.10 American Woodmark 1,078 506 47% 1.70 1.25 75th Percentile 50% 1.70 1.25 Mean 48% 1.61 1.19 Median 47% 1.57 1.18 25th Percentile 33% 1.51 1.16 RETURN $1,946 $3,087 159% 2.00 0.91 Peer RETURN Observed Observed Unlevered Beta(3) 1.18 0.91 Debt / Equity(3) 47% 159% Levered Beta(4) 1.590 1.997 Risk-Free Rate(5) 1.9% 1.9% Market Risk Premium(6) 7.3% 7.3% Market Size Premium(7) 1.4% 1.4% Cost of Equity 14.7% 17.7% Pre-Tax Cost Of Debt(8) 3.56% 4.11% Tax Rate 25.0% 25.0% After-Tax Cost Of Debt 2.7% 3.1% % Equity 68.1% 38.7% % Debt 31.9% 61.3% Estimated WACC(9) 10.9% 8.7% For Reference Only

Exhibit (c)(4)

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January 7, 2022 Presentation to the Special Committee Project RETURN

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1 Disclaimer This presentation has been prepared by Centerview Partners LLC (“Centerview”) for use solely by the management and Special Committee of RETURN, Inc.(“RETURN”) in connection with its evaluation of a proposed transaction involving RETURN and for no other purpose. The information contained herein is based upon information supplied by or on behalf of RETURN and publicly available information, and portions of the information contained herein may be based upon statements, estimates and forecasts provided by RETURN. Centerview has relied upon the accuracy and completeness of the foregoing information, and has not assumed any responsibility for any independent verification of such information or for any independent evaluation or appraisal of any of the assets or liabilities (contingent or otherwise) of RETURN or any other entity, or concerning the solvency or fair value of RETURN or any other entity. With respect to financial forecasts, Centerview has assumed that such forecasts have been reasonably prepared on bases reflecting the best currently available estimates and judgments of the management of RETURN as to the future financial performance of RETURN, and at your direction Centerview has relied upon such forecasts, as provided by RETURN’s management, with respect to RETURN. Centerview assumes no responsibility for and expresses no view as to such forecasts or the assumptions on which they are based. The information set forth herein is based upon economic, monetary, market and other conditions as in effect on, and the information made available to us as of, the date hereof, unless indicated otherwise and Centerview assumes no obligation to update or otherwise revise these materials. The financial analysis in this presentation is complex and is not necessarily susceptible to a partial analysis or summary description. In performing this financial analysis, Centerview has considered the results of its analysis as a whole and did not necessarily attribute a particular weight to any particular portion of the analysis considered. Furthermore, selecting any portion of Centerview’s analysis, without considering the analysis as a whole, would create an incomplete view of the processunderlying its financial analysis. Centerview may have deemed various assumptions more or less probable than other assumptions, so the reference ranges resulting from any particular portion of theanalysis described above should not be taken to be Centerview’s view of the actual value of RETURN. These materials and the information contained herein are confidential, were not prepared with a view toward public disclosure, and may not be disclosed publicly or made available to third parties without the prior written consent of Centerview. These materials and any other advice, written or oral, rendered by Centervieware intended solely for the benefit and use of the management and Special Committee of RETURN (in its capacity as such) in its consideration of the proposed transaction, and are not for the benefit of, and do not convey any rights or remedies for any holder of securities of RETURN or any other person. Centerview will not be responsible for and has not provided any tax, accounting, actuarial, legal or other specialist advice. These materials are not intended to provide the sole basis for evaluating the proposed transaction, and this presentation does not represent a fairness opinion, recommendation, valuation or opinion of any kind, and is necessarily incomplete and should be viewed solely in conjunction with the oral presentation provided byCenterview.

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2 Situation Update . Centerview’s last interaction with COPY was on December 22, 2021, where COPY communicated the following: – Prepared to increase their offer for the shares not owned by them from $23.00 to $23.50 per share – Have concerns around assumptions for Windows volume and Materials pricing-cost spread in the projections shared by Management . On December 28, 2021, Management provided Centerview with historical and projected analyses for the assumptions noted above as supplements to the Management Case shared on December 3, 2021 (referred to herein as the “December 3 Management Case”) – The analyses included annual risk estimates to the December 3 Management Case (referred to herein as the “Potential Risks to December 3 Management Case”) . On January 3, 2022, Management provided Centerview with a downside sensitivity operating case (referred to herein as the “January 3 Management Case”) . Centerview’s financial analysis has been updated to reflect the new offer price and January 3 Management Case, along with references to the December 3 Management Case and related Potential Risks . Centerview has evaluated the historical volatility in the Management budget and forecasting process from 2019 to 2021 – Largest change is consistently in Q1; January 3 Management Case is in-line with historical updates

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3 Table of Contents Section 1 ...................................................................................... Recap of COPY’s 12/22/21 Proposal Section 2 ......................................................... Centerview’s Updated Preliminary Financial Analysis Appendix ........................................................................................................... Supplementary Materials

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Recap of COPY’s 12/22/21 Proposal 1

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5 Updated Value Communicated by COPY on December 22, 2021 Price per Share Implied Premia . $23.50 per share – Implies an increase of 2.2% from an offer of $23.00 on Nov. 22, 2021 – Implies an increase of 6.8% from an initially considered offer of $22.00 on Nov. 12, 2021 . 33.6% to current share price of $17.59 . 42.7% to 30-day VWAP of $16.46 . 48.5% to 90-day VWAP of $15.83 . 74.4% to 1-year VWAP of $13.47 . 20.5% to 52-week high of $19.50(1) Summary Financials Source: Management projections provided on December 3, 2021 and January 3, 2022. Company filings and FactSet as of January 6, 2022. Note: Dollars in millions, except per share amounts. (1) Reflects closing share price trading levels. (2) RETURN balance sheet and share count reflect the company’s latest filings. Overview COPY Current Proposal Implied Valuation Share Price $17.59 $23.50 % Premium to Current – 33.6% Diluted Shares Outstanding(2) 127.8 128.2 Equity Value $2,248 $3,013 Less: Cash(2) (677) (677) Plus: Debt(2) 3,087 3,087 Enterprise Value $4,658 $5,423 Implied Multiples Multiple: Metric: 2021E $691 6.7x 7.9x 2022E 758 6.1x 7.2x 2021E $675 6.9x 8.0x 2022E 725 6.4x 7.5x 2021E $675 6.9x 8.0x 2022E 775 6.0x 7.0x EV / EBITDA (Consensus) EV / EBITDA (January 3 Mgmt. Case) EV / EBITDA (December 3 Mgmt. Case) Consideration and Financing . 100% cash consideration . Financing discussions with Goldman Sachs and RBC reconfirmed COPY’s belief that 6x+ debt leverage was feasible for this transaction . Indebtedness would be incurred by a Holdco above the RETURN credit group following the merger – RETURN’s outstanding debt would stay in place

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6 % Growth % Margin Mgmt. Case 2021E 2022E 2023E 2024E 2025E 2026E December 3 22% 14% 5% 0% 1% 5% January 3 22% 13% 5% 0% 1% 5% $427 $549 $587 $590 $612 $251 $399 $514 $551 $556 $577 $100 $300 $500 $700 2021E 2022E 2023E 2024E 2025E 2026E $6,235 $6,562 $6,572 $6,660 $6,972 $5,458 $6,185 $6,510 $6,518 $6,609 $6,920 $5,000 $5,500 $6,000 $6,500 $7,000 2021E 2022E 2023E 2024E 2025E 2026E Comparison of RETURN December 3 vs. January 3 Management Cases Net Sales Adj. EBITDA Unlevered Free Cash Flow(1)(2) Source: Management projections provided on December 3, 2021 and January 3, 2022. Note: Dollars in millions. (1) Includes stock-based compensation as an expense. (2) Includes a $75mm payment from a settlement agreement filed on August 25, 2021 between parties to a class action complaint filed on November 14, 2018. The settlement remains subject to court approval. RETURN’s counsel believes that the likelihood of approval of the settlement is over 95%. December 3 Management Case January 3 Management Case % Margin % Margin Mgmt. Case 2021E 2022E 2023E 2024E 2025E 2026E December 3 12% 12% 13% 14% 14% 15% January 3 12% 12% 13% 13% 13% 14% % Margin Mgmt. Case 2021E 2022E 2023E 2024E 2025E 2026E December 3 5% 7% 8% 9% 9% 9% January 3 5% 6% 8% 8% 8% 8% $775 $872 $898 $940 $1,027 $675 $725 $820 $844 $889 $975 $500 $600 $700 $800 $900 $1,000 $1,100 2021E 2022E 2023E 2024E 2025E 2026E

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7 Median 7% 3% 5% 2% 24% 12% 7% 2% 6% 1% 5% 1% 6% 8% 3% 3% 3% Mar. Jul. Oct. Dec. Median: 6.8% 7% 4% 3% 6% Mar. 2019 & Mar. 2021 2019 - 2021 2019 & 2021 Jan. 3 2022 Historical Variability in Management Plan Forecasts Source: Management data provided on January 6, 2022. Note: March, July and October figures represent forecasts. December figures represent actual FY figures. (1) Reflects change in 2022E EBITDA per December 3 Management Case. Reflects Absolute Change to the Forecast Established in the Prior Quarter Q-o-Q Change in Forecasted Year-End EBITDA Median Q-o-Q Change in Forecasted Year-End EBITDA 2019 2020 2021 Jan. 3 2022(1) (1) Reflects Absolute Change to the Forecast Established in the Prior Quarter

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8 Historical Variability in Management Plan Forecasts (Cont.) Reflects Actual Change to the Forecast Established in the Prior Quarter Q-o-Q Change in Year-End EBITDA Forecasts New Forecast / Actuals vs. Plan (EBITDA) 2019 2020 2021 Jan. 3 2022(1) Reflects Overall Change to the Forecast Established in January of Each FY Source: Management data provided on January 6, 2022. Note: March, July and October figures represent forecasts. December figures represent actual FY figures. (1) Reflects change in 2022E EBITDA per December 3 Management Case. Median (7%) (10%) (9%) (7%) (8%) (10%) (13%) (11%) (24%) (15%) (9%) (7%) --% 6% 5% 10% 11% (6%) Plan Mar. Jul. Oct. Dec. Median (7%) (1%) 5% 2% (8%) (3%) (3%) 3% (24%) 12% 7% 2% 6% (1%) 5% 1% (6%) Mar. Jul. Oct. Dec.

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Centerview’s Updated Preliminary Financial Analysis 2

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10 Source: Company filings, press releases, CapIQ, FactSet and Management projections provided on January 3, 2022. Note: Market data as of January 6, 2022. (1) Based on RETURN’s share price of $17.59 as of January 6, 2022, 30-day VWAP of $16.46 and 52-week high of $19.50. . Selected publicly-traded comparable companies in the building products sector . Valuation multiples based on Enterprise Value / CY 2022E EBITDA . Multiples applied to RETURN’s 2022E EBITDA per Wall Street consensus and RETURN January 3 Management Case . Based on RETURN January 3 Management Case . Perpetuity growth rate of 1.75% - 2.50% . Weighted average cost of capital (“WACC”) range of 10.5% - 12.5% . Selected precedent M&A transactions in the building products sector – Includes transactions completed with U.S. targets in the last 5 years (deal size greater than $1bn) . Multiples applied to RETURN’s LTM EBITDA as of October 2, 2021 . RETURN’s closing share price trading levels over the last 52 weeks 52-Week Trading Range Selected Precedent Transactions Analysis Discounted Cash Flow (DCF) Analysis For Reference Only . Range of current Wall Street analyst price targets for RETURN Analyst Price Targets Selected Public Company Analysis Premia Paid Analysis . Range of premia paid on selected take-private transactions – Includes transactions completed with U.S. targets in the last 10 years (deal size of $1bn - $10bn) . Premia applied to RETURN’s current share price, 30-day VWAP and 52-week high(1) Overview of Centerview’s Preliminary Financial Analysis

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11 $14.00 $15.50 $24.25 $19.50 $11.10 $19.00 $20.50 $18.50 $18.00 $20.75 $22.50 $37.00 $30.75 $19.50 $27.00 $25.25 $22.00 $22.00 – $10.00 $20.00 $30.00 $40.00 Source: Management projections provided on December 3, 2021 and January 3, 2022, FactSet as of January 6, 2022 and Wall Street research. Note: Dollars in millions, except per share figures. Implied share prices rounded to the nearest $0.25. Market data as of January 6, 2022. (1) Implied share price calculated as implied enterprise value less $2.4bn of net debt, consisting of $3.1bn of debt and $0.7bn of cash, per RETURN’s Q3’21 10-Q, divided by fully diluted shares outstanding. Fully diluted shares outstanding based on 126.2mm basic shares and 3.2mm stock options with an weighted average exercise price of $8.95. EBITDA is unburdened for stock-based compensation. 52-Week Trading Range Selected Public Comparables Selected Precedent Transactions Implied Share Price(1) LTM (as of 10/02/21) LTM EBITDA: $651mm Multiple: 8.5x - 11.0x January 3 Mgmt. Case WACC: 10.5% - 12.5% PGR: 1.75% - 2.50% Closing Price Low - High January 3 Mgmt. Case 2022E EBITDA: $725mm Multiple: 5.8x - 7.0x Price as of 1/6/22: $17.59 Analyst Price Targets Price Target Low - High For Reference Only DCF Analysis Premia Paid Analysis Implied Price Current Share Price: $17.59 Premium: 17.0% - 42.9% COPY Offer on 12/22/21: $23.50 Preliminary Financial Analysis Implied Price 30-Day VWAP: $16.46 Premium: 12.8% - 33.8% Implied Price 52-Week High: $19.50 Premium: (7.9%) - 12.2% Wall Street Consensus 2022E EBITDA: $758mm Multiple: 5.8x - 7.0x Reference: Implied Share Price per December 3 Mgmt. Case $16.25 - $23.50 $22.00 - $34.00

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12 $1.15 $1.15 $0.70 ($0.30) ($0.40) ($0.40) ($2.70) RETURN DCF Sensitivity Analysis (Illustrative) – December 3 Mgmt. Case Source: Management projections provided on December 3, 2021 and supplemental materials provided on December 28, 2021. Note: Per share impact based on mid-point per share rounded to the nearest $0.05. December 3 Management Case . RETURN December 3 Mgmt. Case as provided to Centerview . Share price derived from mid-point of discounted cash flow analysis based on a discount rate between 10.5% and 12.5% and perpetuity growth rate of 1.75% to 2.50% . RETURN balance sheet and share count as of October 2, 2021 $27.00 (DCF Range: $22.00 - $34.00) Reduced Corporate Risk Adjustment Buildings: Increase in Annual Price Growth . Decrease of 50% of Corporate Risk Adjustment . Increase of 50bps to projected y-o-y increases in pricing . Decrease of $9mm in annual EBITDA due to a gradual improvement in 2022E Minutes per Opening (MPO) from a current run-rate of 88 MPO to the December 3 Management Case run-rate of 82 MPO Key Assumptions Mid-point Per Share Impact . Decrease of $8mm in annual EBITDA from a decrease of 50% of projected 2022E Revenue from new Home Depot business Components: Increase in Annual Price Growth . Increase of 50bps to projected y-o-y increases in pricing Dec. 3 Mgmt. Case Adjustments . Decrease of $52mm in annual EBITDA due to the Buildings price- material spread per ton reverting from $1,809 to $1,478 by YE’22E . Increase of $3mm in annual EBITDA due to the Components price- material spread per ton reverting from $1,188 to $875 by YE’22E Windows: Reduced Manufacturing Efficiencies Windows: Reduced New Home Depot Revenue Accelerated Residential & Commercial Market Decline Commercial: Reversion in Price/Material Spread . Market decline for residential and commercial construction occurs in 2023E and 2024E, respectively – one year earlier than in December 3 Management Case

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13 Selected Public Trading Comparables Source: Company filings and FactSet as of January 6, 2022. Note: Dollars in billions. EBITDA is unburdened for stock-based compensation. All figures are based on RETURN fiscal year ending December 31. Companies sorted by equity value. Revenue EBITDA EBITDA Net Equity Enterprise EV / EBITDA Growth Growth Margin Leverage Company Value Value 2022E '21E - '22E '21E - '22E 2022E LTM Owens Corning $9.5 $11.6 5.8x 5% 3% 23% 1.1x Masonite 2.8 3.2 6.9x 7% 12% 17% 1.2x JELD-WEN 2.5 3.9 7.1x 7% 15% 11% 2.9x PGT Innovations 1.3 1.9 9.2x 19% 27% 15% 3.5x American Woodmark 1.1 1.6 8.2x 7% 11% 10% 2.8x Median $2.5 $3.2 7.1x 7% 12% 15% 2.8x RETURN (Consensus) $2.2 $4.7 6.1x 10% 10% 12% 3.7x RETURN (January 3 Mgmt. Case) $2.2 $4.7 6.4x 13% 7% 12% 3.7x RETURN (December 3 Mgmt. Case) $2.2 $4.7 6.0x 14% 15% 12% 3.7x

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14 Target EV / LTM Target's LTM Financials Date Acquiror Company EV Sales EBITDA Sales EBITDA Margin 7/19/21 Carlisle Companies Henry $1,575 3.1x 13.2x $511 $119 23.3% 6/20/21 Westlake Chemical Boral's N.A. Building Products 2,150 2.0x ~10.4x 1,100 ~206 ~19.0% 6/7/21 Nucor Cornerstone's Insulated Metal Panels 1,000 2.6x 13.3x 389 75 19.3% 11/15/19 ACPI Masco Cabinetry 1,000 1.1x 9.8x 950 102 10.7% 11/12/19 Saint-Gobain Continental Building Products 1,434 2.8x 10.4x 514 138 26.8% 7/17/18 NCI Ply Gem 3,700 1.4x 10.9x 2,649 341 12.9% 1/31/18 CD&R Ply Gem 2,400 1.2x 9.7x 2,056 246 12.0% 12/1/17 American Woodmark RSI Home Products 1,075 1.9x 8.7x 560 123 22.0% Median 1.9x 10.4x 19% Mean 2.0x 10.8x 18% Source: Company press releases, news articles, Wall Street research, CapIQ and FactSet. Note: EBITDA is unburdened for stock-based compensation. Transaction multiples represent approximate figures due to lack of disclosures. Multiples are on LTM basis unless otherwise noted. (1) Reflects midpoint of Westlake’s disclosure on acquisition call. Stock-based compensation reflects segment’s sales contribution. (2) Represents FY’18A figures. Stock-based compensation reflects segment’s sales contribution. (3) Represents FY’18E figures per merger proxy. Assumes stock-based compensation reflects FY’17A stock-based compensation as a percentage of FY’17A sales. Selected acquisitions of U.S. building products companies over the last 5 years with a deal size greater than $1bn (2) (1) (2) (2) (2) (3) (3) (3) (3) Selected Precedent Transactions (1)

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15 Discounted Cash Flow Analysis – January 3 Management Case Source: Management projections provided on January 3, 2022. Note: Dollars in millions, except per share items. Implied share prices rounded to nearest $0.25. (1) Adjusted EBITDA includes stock-based compensation as a cash expense. (2) D&A includes ~$180mm of amortization through 2026. Terminal year assumes D&A equal to CapEx going forward. Unlevered Free Cash Flow Build Fiscal Year Ended December 31, Terminal ($ in millions) Q4 2021E 2022E 2023E 2024E 2025E 2026E Year Revenue $1,430 $6,185 $6,510 $6,518 $6,609 $6,920 $6,920 % Growth 20% 13% 5% 0% 1% 5% Adj. EBITDA (less: SBC)(1) $174 $705 $800 $824 $869 $955 $955 % Margin 12% 11% 12% 13% 13% 14% 14% (Less): D&A(2) (65) (284) (289) (293) (296) (301) (173) EBIT $110 $421 $511 $532 $573 $654 $782 (Less): Taxes (25) (126) (153) (159) (172) (196) (235) NOPAT $84 $294 $358 $372 $401 $458 $548 Plus: D&A(2) 65 284 289 293 296 301 173 Plus / (Less): Change in NWC 41 (77) 30 49 24 (9) (16) (Less): CapEx (24) (155) (163) (163) (165) (173) (173) Plus: Cash Settlement (tax adj.) -- 53 -- -- -- -- -- Unlevered Free Cash Flow $165 $399 $514 $551 $556 $577 $532 Implied Share Price Implied Terminal Multiple Discount Perpetuity Growth Rate Rate 1.75% 2.13% 2.50% 10.5% $27.75 $29.25 $30.75 11.5% 23.25 24.25 25.50 12.5% 19.50 20.50 21.50 Discount Perpetuity Growth Rate Rate 1.75% 2.13% 2.50% 10.5% 6.3x 6.7x 7.0x 11.5% 5.7x 5.9x 6.2x 12.5% 5.2x 5.4x 5.6x

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16 Discounted Cash Flow Analysis – December 3 Management Case Source: Management projections provided on December 3, 2021. Note: Dollars in millions, except per share items. Implied share prices rounded to nearest $0.25. (1) Adjusted EBITDA includes stock-based compensation as a cash expense. (2) D&A includes ~$180mm of amortization through 2026. Terminal year assumes D&A equal to CapEx going forward. Unlevered Free Cash Flow Build Fiscal Year Ended December 31, Terminal ($ in millions) Q4 2021E 2022E 2023E 2024E 2025E 2026E Year Revenue $1,430 $6,235 $6,562 $6,572 $6,660 $6,972 $6,972 % Growth 20% 14% 5% 0% 1% 5% Adj. EBITDA (less: SBC)(1) $174 $755 $852 $878 $920 $1,007 $1,007 % Margin 12% 12% 13% 13% 14% 14% 14% (Less): D&A(2) (65) (284) (289) (293) (296) (301) (174) EBIT $110 $471 $563 $585 $623 $706 $833 (Less): Taxes (25) (141) (169) (176) (187) (212) (250) NOPAT $84 $329 $394 $410 $436 $494 $583 Plus: D&A(2) 65 284 289 293 296 301 174 Plus / (Less): Change in NWC 41 (83) 30 49 24 (9) (16) (Less): CapEx (24) (156) (164) (164) (166) (174) (174) Plus: Cash Settlement (tax adj.) -- 53 -- -- -- -- -- Unlevered Free Cash Flow $165 $427 $549 $587 $590 $612 $567 Implied Share Price Implied Terminal Multiple Discount Perpetuity Growth Rate Rate 1.75% 2.13% 2.50% 10.5% $30.75 $32.25 $34.00 11.5% 26.00 27.00 28.50 12.5% 22.00 23.00 24.00 Discount Perpetuity Growth Rate Rate 1.75% 2.13% 2.50% 10.5% 6.4x 6.7x 7.1x 11.5% 5.8x 6.0x 6.3x 12.5% 5.2x 5.4x 5.7x

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Appendix Supplementary Materials

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18 Components Overview of Potential Risks to December 3 Management Case Source: Management projections provided on December 28, 2021. Note: EBITDA figures in millions. Pricing-Cost Spread – Historical & Projected Trends Buildings Spread / Ton . Sensitivity assumes a decrease from $1,978 in Q1’22E to $1,478 in Q4’22E (vs. $1,809 per December 3 Management Case) . Represents risk of ($52mm) in annual EBITDA Components Spread / Ton . Sensitivity assumes a decrease from $1,000 in Q1’22E to $875 in Q4’22E (vs. an increase from $806 to $1,188 per December 3 Management Case) . Represents upside of +$3mm in annual EBITDA EBITDA Risk to December 3 Mgmt. Case (’22E-’26E) Annual = ~($50mm) Cumulative = ($253mm) Actuals / Dec. 3 Mgmt. Case Price / Ton Actuals / Dec. 3 Mgmt. Case Material Cost / Ton Sensitivity Price / Ton Actuals / Dec. 3 Mgmt. Case Spread / Ton $3,109 $2,796 $1,921 $771 $729 $749 $846 $942 $806 $1,188 $875 $0 $1,000 $2,000 $3,000 $4,000 Q1-'17 Q1-'18 Q1-'19 Q1-'20 Q1-'21 Q1-'22 Q4-'22 Sensitivity Spread / Ton Impact of adjustments to assumed materials pricing-cost spread in Commercial segment Annual EBITDA – December 3 Mgmt. Case & Sensitivity $3,837 $3,506 $2,028 $1,133 $1,180 $1,356 $1,407 $1,245 $1,978 $1,809 $1,478 $0 $1,000 $2,000 $3,000 $4,000 $5,000 Q1-'17 Q1-'18 Q1-'19 Q1-'20 Q1-'21 Q1-'22 Q4-'22 Buildings December 3 Mgmt. Case Sensitivity Cumulative EBITDA Impact ($49) ($100) ($153) ($202) ($253) $775 $872 $898 $940 $1,027 $726 $821 $845 $890 $976 $700 $800 $900 $1,000 2022E 2023E 2024E 2025E 2026E

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19 Overview of Potential Risks to December 3 Management Case (Cont.) Source: Management projections provided on December 28, 2021. Note: Dollars in millions. Units in thousands. . Sensitivity assumes gradual improvement in minutes per opening from current run-rate of 88 minutes to December 3 Management Case run-rate of 82 . May result in lower volumes in Q1’22E of 4% vs. December 3 Management Case; represents a loss of ($25mm) of revenue and ($6mm) of EBITDA . May require an additional ($3.2mm) in labor-related costs . Represents risk of ($9mm) in annual EBITDA Impact of adjustments to assumed manufacturing efficiencies in Windows segment Minutes per Opening – Historical & Projected Trends Cumulative EBITDA Impact ($9) ($18) ($27) ($35) ($45) $775 $872 $898 $940 $1,027 $766 $863 $889 $931 $1,018 $700 $800 $900 $1,000 2022E 2023E 2024E 2025E 2026E Annual EBITDA – December 3 Mgmt. Case & Sensitivity EBITDA Risk to December 3 Mgmt. Case (’22E-’26E) Annual = ~($9mm) Cumulative = ($45mm) 2021 Sensitivity 84.7 84.1 86.6 83.9 84.4 84.1 85.3 87.4 88.7 87.6 87.4 87.9 81.8 82.1 82.1 87.7 85.7 83.7 82.0 81.7 82.1 82.1 81.8 81.4 80.4 80.5 80.5 78 80 82 84 86 88 90 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec December 3 Mgmt. Case (2022E) December 3 Mgmt. Case Sensitivity

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20 Source: Management projections provided on December 28, 2021. Note: Dollars in millions. Units in thousands. U.S. Windows –West Home Depot Business Overview . New West Home Depot business (Apollo) is expected to produce an incremental $84mm of Net Sales and $17mm of Contribution Margin in 2022E Total 2021A 2022E % Change Apollo SWD SO PGW West Total West HD Apollo SWD SO PGW West Total West HD Stock Units ('000s) 263.7 -- 145.7 409.4 480.4 -- 242.6 723.1 77% Special Units ('000s) 30.5 20.5 80.8 131.7 111.9 33.0 111.2 256.1 94% Total Units ('000s) 294.2 20.5 226.4 541.1 592.3 33.0 353.9 979.2 81% Stock Net Average Selling Price $122.00 $-- $122.00 NA $129.32 $-- $129.32 NA Special Net Average Selling Price 181.00 362.00 181.00 NA 191.86 383.72 191.86 NA Stock Net Sales $32.2 $-- $17.8 $49.9 $62.1 $-- $31.4 $93.5 87% % of Net Sales 85% --% 55% 64% 74% --% 60% 63% Special Net Sales 5.5 7.4 14.6 27.6 21.5 12.7 21.3 55.5 101% % of Net Sales 15% 100% 45% 36% 26% 100% 40% 37% Net Sales ($mm) $37.7 $7.4 $32.4 $77.5 $83.6 $12.7 $52.7 $149.0 92% Stock Contribution Margin $3.8 $-- $2.1 $5.8 $8.8 $-- $4.5 $13.3 127% % Margin 12% NA 12% 12% 14% NA 14% 14% +250bps Special Contribution Margin 2.0 2.9 5.3 10.3 8.2 5.2 8.2 21.6 110% % Margin 36% 39% 36% 37% 38% 41% 38% 39% +165bps Contribution Margin ($mm) $5.8 $2.9 $7.4 $16.1 $17.0 $5.2 $12.6 $34.8 116% % Margin 15% 39% 23% 21% 20% 41% 24% 23% +260bps Impact of adjustments to assumed volume in Windows segment Overview of Potential Risks to December 3 Management Case (Cont.) Basis of annual risk to December 3 Management Case (sensitivity included on page 10)

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21 NTM EV / EBITDA Multiple RETURN Current (6.1x) 3-Yr RETURN Average (6.9x) Illustr. Cost Undiscounted Future Share Price (2022E) of Equity $27.40 $32.55 14.0% $24.10 $28.60 16.0% 23.65 28.10 18.0% 23.25 27.65 Illustrative Future Share Price Present Value of Illustrative Future Share Price(3) Source: FactSet as of January 6, 2022 and Management projections provided on December 3, 2021. Note: Diluted shares in millions. Future share prices as of year-end. Share prices rounded to nearest $0.05. (1) NTM multiple based on RETURN 3-year average. (2) Reflects Wall Street consensus. (3) Illustrative future share price discounted at 18.0% based on RETURN’s cost of equity per RETURN observed figures. Present Value of YE 2022 Share Price Sensitivity RETURN December 3 Mgmt. Case at Current 6.1x NTM Multiple RETURN December 3 Mgmt. Case at 3-Year Avg. 6.9x NTM Multiple(1) Memo: NTM EBITDA $758 $872 $898 Net Debt 2,410 1,860 1,376 Dil. Shares 127.8 127.8 127.8 Future Share Price Breakeven Analysis – December 3 Management Case Analysis represents illustrative future share price assuming a range of EV / NTM EBITDA multiples applied to RETURN December 3 Management Case projections (2) $23.25 $23.30 $17.59 $27.65 $27.15 $10 $20 $30 $40 Current 2022 2023 $27.40 $32.40 $17.59 $32.55 $37.75 $10 $20 $30 $40 Current 2022 2023

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22 NTM EV / EBITDA Multiple RETURN Current (6.1x) 3-Yr RETURN Average (6.9x) Illustr. Cost Undiscounted Future Share Price (2022E) of Equity $24.65 $29.50 14.0% $21.65 $25.90 16.0% 21.30 25.50 18.0% 20.95 25.05 $24.65 $29.35 $17.59 $29.50 $34.35 $10 $20 $30 $40 Current 2022 2023 $20.95 $21.15 $17.59 $25.05 $24.75 $10 $20 $30 $40 Current 2022 2023 Illustrative Future Share Price Present Value of Illustrative Future Share Price(3) Source: FactSet as of January 6, 2022 and Management projections provided on January 3, 2022. Note: Diluted shares in millions. Future share prices as of year-end. Share prices rounded to nearest $0.05. (1) NTM multiple based on RETURN 3-year average. (2) Reflects Wall Street consensus. (3) Illustrative future share price discounted at 18.0% based on RETURN’s cost of equity per RETURN observed figures. Present Value of YE 2022 Share Price Sensitivity RETURN January 3 Mgmt. Case at Current 6.1x NTM Multiple RETURN January 3 Mgmt. Case at 3-Year Avg. 6.9x NTM Multiple(1) Memo: NTM EBITDA $758 $820 $844 Net Debt 2,410 1,887 1,439 Dil. Shares 127.8 127.8 127.8 Future Share Price Breakeven Analysis – January 3 Management Case Analysis represents illustrative future share price assuming a range of EV / NTM EBITDA multiples applied to RETURN January 3 Management Case projections (2)

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23 Take-Private Considerations – Ability to Pay Analysis . Rollover of RETURN’s outstanding debt . Holdco debt to consist of new Unsecured Notes . Minimum cash of $50mm January 3 Mgmt. Case (Implied Share Price) December 3 Mgmt. Case (Implied Share Price) Exit Multiple Target IRR 5.75x 6.38x 7.00x 15.0% $27.75 $30.25 $32.75 17.5% 26.25 28.50 30.75 20.0% 25.00 27.00 29.00 22.5% 24.00 25.75 27.50 25.0% 23.00 24.50 26.25 Source: Management projections provided on December 3, 2021 and January 3, 2022. Note: Dollars in millions, except per share values. Implied share prices rounded to the nearest $0.25. Exit Multiple Target IRR 5.75x 6.38x 7.00x 15.0% $27.00 $29.50 $32.00 17.5% 25.25 27.50 29.75 20.0% 24.00 26.00 28.00 22.5% 22.75 24.50 26.25 25.0% 21.50 23.25 24.75 Exit Multiple Target IRR 5.75x 6.38x 7.00x 15.0% $27.50 $30.00 $32.25 17.5% 26.00 28.25 30.50 20.0% 24.75 26.75 28.75 22.5% 23.75 25.50 27.25 25.0% 22.75 24.25 26.00 6.0x Net Leverage / 8% Financing Costs Exit Multiple Target IRR 5.75x 6.38x 7.00x 15.0% $29.75 $32.50 $35.00 17.5% 28.25 30.50 32.75 20.0% 26.75 28.75 31.00 22.5% 25.50 27.25 29.25 25.0% 24.25 26.00 27.75 5.5x Net Leverage / 8% Financing Costs Exit Multiple Target IRR 5.75x 6.38x 7.00x 15.0% $29.00 $31.50 $34.25 17.5% 27.25 29.50 31.75 20.0% 25.50 27.75 29.75 22.5% 24.00 26.00 28.00 25.0% 22.75 24.50 26.25 6.0x Net Leverage / 9% Financing Costs Exit Multiple Target IRR 5.75x 6.38x 7.00x 15.0% $29.50 $32.00 $34.75 17.5% 27.75 30.25 32.50 20.0% 26.50 28.50 30.50 22.5% 25.25 27.00 29.00 25.0% 24.00 25.75 27.50 Key Assumptions . Balance sheet figures as of December 31, 2021 . Exit at year-end 2026E

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24 Fiscal Year Ending December 31, 2021E 2022E 2023E 2024E 2025E 2026E Net Sales $5,458 $6,185 $6,510 $6,518 $6,609 $6,920 % Growth 22% 13% 5% 0% 1% 5% Gross Profit $1,149 $1,217 $1,360 $1,421 $1,520 $1,671 % Margin 21% 20% 21% 22% 23% 24% Operating Income $385 $419 $509 $530 $571 $652 % Margin 7% 7% 8% 8% 9% 9% Net Income $137 $242 $274 $315 $363 $431 % Margin 3% 4% 4% 5% 5% 6% Diluted Earnings per Share $1.08 $1.91 $2.16 $2.48 $2.86 $3.40 Adjusted EBITDA $675 $725 $820 $844 $889 $975 % Margin 12% 12% 13% 13% 13% 14% Unlevered Free Cash Flow $251 $399 $514 $551 $556 $577 % Margin 5% 6% 8% 8% 8% 8% Source: Management projections provided on January 3, 2022. Note: Dollars in millions, except per share figures. EBITDA is unburdened for stock-based compensation. (1) Excludes $831mm gain on sale of IMP and DBCI business units. (2) Includes stock-based compensation as an expense. (3) Includes a $75mm payment from a settlement agreement filed on August 25, 2021 between parties to a class action complaint filed on November 14, 2018. The settlement remains subject to court approval. RETURN’s counsel believes that the likelihood of approval of the settlement is over 95%. (2) (3) RETURN January 3 Management Case Summary (1) (1) (1)

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25 Source: Management projections provided on January 3, 2022. Note: Dollars in millions. EBITDA is unburdened for stock based compensation. RETURN January 3 Management Case Segment Detail Fiscal Year Ending December 31, CAGR 2021E 2022E 2023E 2024E 2025E 2026E '21E-'23E '21E-'26E Windows Segment $2,488 $2,836 $2,966 $2,899 $3,015 $3,159 9% 5% % Growth 19% 14% 5% (2%) 4% 5% Commercial Segment 1,584 1,911 2,010 2,102 1,989 2,038 13% 5% % Growth 31% 21% 5% 5% (5%) 2% Siding Segment 1,386 1,641 1,736 1,720 1,808 1,926 12% 7% % Growth 20% 18% 6% (1%) 5% 7% Corporate Risk Adjustment -- (203) (203) (203) (203) (203) Total Net Sales $5,458 $6,185 $6,510 $6,518 $6,609 $6,920 9% 5% % Growth 22% 13% 5% 0% 1% 5% Windows Segment $479 $557 $626 $648 $717 $795 14% 11% % Margin 19% 20% 21% 22% 24% 25% Commercial Segment 371 356 395 429 426 458 3% 4% % Margin 23% 19% 20% 20% 21% 22% Siding Segment 381 438 477 485 521 566 12% 8% % Margin 28% 27% 27% 28% 29% 29% Corporate Risk Adjustment (82) (134) (137) (141) (144) (148) Total Gross Profit $1,149 $1,217 $1,360 $1,421 $1,520 $1,671 9% 8% % Margin 21% 20% 21% 22% 23% 24% Windows Segment $295 $360 $408 $420 $466 $519 18% 12% % Margin 12% 13% 14% 14% 15% 16% Commercial Segment 234 214 239 258 246 262 1% 2% % Margin 15% 11% 12% 12% 12% 13% Siding Segment 278 324 352 353 376 406 12% 8% % Margin 20% 20% 20% 21% 21% 21% Corporate Risk Adjustment (133) (172) (179) (186) (199) (211) Total Adj. EBITDA $675 $725 $820 $844 $889 $975 10% 8% % Growth 22% 7% 13% 3% 5% 10% % Margin 12% 12% 13% 13% 13% 14%

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26 $0 $5 $10 $15 $20 $25 Jan-17 Jan-18 Jan-19 Jan-20 Jan-21 Jan-22 RETURN’s Historical Share Price Performance Source: FactSet and Wall Street research as of January 6, 2022. Note: M&A annotations only include transactions with a deal size greater than $100mm. (1) Reflects closing share price trading levels. $15.65 $17.59 +12% Jul. 17, 2018: NCI and Ply Gem announced merger Nov. 16, 2018: NCI and Ply Gem merger closed Jan. 17, 2019: Announced acquisition of Environmental Stoneworks Jul. 27, 2021: Announced divestiture of DBCI business Aug. 2, 2021: Announced acquisition of Cascade Windows Aug. 4, 2021: Announced CEO retirement and transition plan Aug. 9, 2021: Completed divestiture of IMP business RETURN’s Share Price Performance (Last 5 Years) Aug. 28, 2018: Ply Gem announced acquisition of Silver Line Division from Andersen Corporation Jun. 7, 2021: Announced divestiture of IMP business Nov. 9, 2021: Announced Q3’21 earnings and the acquisition of Union Corrugating Company Implied Premia COPY Proposal Share Price $23.50 vs. Current ($17.59) 33.6% vs. 30-Day VWAP ($16.46) 42.7% vs. 90-Day VWAP ($15.83) 48.5% vs. 1-Year VWAP ($13.47) 74.4% vs. 52-Week High ($19.50) 20.5% vs. 52-Week Low ($11.10) 111.7% (1) (1) COPY Offer: $23.50 Feb. 19, 2020: Pre-COVID trading

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27 Limited Trading Float Potentially Weighing on Valuation Source: Company filings and FactSet as of January 6, 2022. Float as a % of Basic Shares Outstanding 99% 98% 98% 96% 95% 42% OC AMWD DOOR PGTI JELD CNR ADTV as % of BSO: Top Shareholder: Top 10 Shareholders: 0.80% 0.61% 0.51% 0.38% 0.57% 0.49% 9.7% 15.0% 9.7% 14.2% 15.8% 49.2% Vanguard BlackRock Vanguard BlackRock Fidelity COPY 41.3% 57.2% 50.7% 60.2% 72.6% 71.7% RETURN

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28 RETURN Shareholder Basis Analysis Source: Public filings, CapitalIQ, Wall Street research and FactSet as of January 6, 2022. Note: Dollars in millions. Cost basis calculated using FIFO method. List of shareholders excludes COPY, Golden Gate Capital and RETURN Executive Chairman James Metcalf. (1) Based on 126.2mm basic shares outstanding as of November 2, 2021. (2) Estimated cost basis of 23mm of retained shares from COPY’s 2009 investment in NCI is based on NCI’s Q3’09 10-Q filing. Estimated cost basis of 39mm of newly issued shares from NCI’s merger with Ply Gem is based on NCI’s share price of $12.16 as of November 16, 2018 – the last closing price before the merger closed. Shareholder Mkt. Val ($mm) % of O/S (1) Shares Held Est. Avg. Cost Basis American Century Investments $73.6 3.3% 4,184,914 $16.13 BlackRock 68.6 3.1% 3,897,794 14.27 Vanguard 62.7 2.8% 3,566,418 11.41 Barrow, Hanley, Mewhinney & Strauss 49.4 2.2% 2,810,018 16.29 Guardian Point Capital 35.2 1.6% 2,000,000 7.85 Russell Investments 34.6 1.6% 1,968,223 15.93 American Beacon Advisors 29.9 1.3% 1,702,626 12.21 DNB Asset Management 29.6 1.3% 1,684,037 8.45 Dimensional Fund Advisors 26.0 1.2% 1,479,853 13.73 TIAA 25.4 1.1% 1,442,155 9.51 King Street 24.6 1.1% 1,400,000 15.22 Wolf Hill Capital 22.6 1.0% 1,283,639 10.58 State Street Global Advisors 17.4 0.8% 988,796 15.68 RBF Capital 16.9 0.8% 962,997 5.76 Geode Capital Management 16.7 0.8% 948,279 13.39 J. Goldman & Co. 16.2 0.7% 919,882 12.00 Cooper Creek Partners 12.7 0.6% 723,893 15.10 Soviero Asset Management 12.0 0.5% 680,000 16.15 Voss Capital 11.4 0.5% 650,000 14.74 Invesco Capital Management 11.4 0.5% 645,431 16.03 Top 20 Holders (Excl. Insiders) $597.0 26.9% 33,938,955 $13.37 Reference: COPY $1,093.1 49.2% 62,143,416 $1.28 / $12.16 Top 20 Shareholders (Excluding COPY, Golden Gate Capital and Other Insiders) (2) Note: COPY’s estimated cost basis is based on 23mm of retained shares from their $250mm investment in NCI in 2009 ($1.28) and 39mm of newly issued shares following NCI’s merger with Ply Gem ($12.16)

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29 RETURN Analysis at Various Prices Source: Management projections, company filings, Wall Street research and FactSet as of January 6, 2022. Note: Dollars in millions, except per share values. COPY COPY 11/22 12/22 Metric Current Proposal Proposal Illustrative Offer Price per Share Offer Price $17.59 $23.00 $23.50 $24.00 $24.50 $25.00 $25.50 $26.00 $26.50 $27.00 Implied Premium / (Discount) vs. Current $17.59 --% 30.8% 33.6% 36.4% 39.3% 42.1% 45.0% 47.8% 50.7% 53.5% vs. 52-Week High $19.50 (9.8%) 17.9% 20.5% 23.1% 25.6% 28.2% 30.8% 33.3% 35.9% 38.5% vs.52-Week Low $11.10 58.5% 107.2% 111.7% 116.2% 120.7% 125.2% 129.7% 134.2% 138.7% 143.2% vs. 30-Day VWAP $16.46 6.8% 39.7% 42.7% 45.8% 48.8% 51.9% 54.9% 57.9% 61.0% 64.0% vs. 90-Day VWAP $15.83 11.1% 45.3% 48.5% 51.6% 54.8% 57.9% 61.1% 64.2% 67.4% 70.6% vs. 1-Year VWAP $13.47 30.6% 70.7% 74.4% 78.1% 81.9% 85.6% 89.3% 93.0% 96.7% 100.4% (x) DSO 127.8 128.2 128.2 128.2 128.3 128.3 128.3 128.3 128.3 128.4 Equity Value $2,248 $2,948 $3,013 $3,078 $3,142 $3,207 $3,272 $3,337 $3,401 $3,466 (+) Debt 3,087 3,087 3,087 3,087 3,087 3,087 3,087 3,087 3,087 3,087 (-) Cash (677) (677) (677) (677) (677) (677) (677) (677) (677) (677) Enterprise Value $4,658 $5,358 $5,423 $5,487 $5,552 $5,617 $5,682 $5,746 $5,811 $5,876 Implied EV / EBITDA Multiples 2021E $675 6.9x 7.9x 8.0x 8.1x 8.2x 8.3x 8.4x 8.5x 8.6x 8.7x 2022E 725 6.4x 7.4x 7.5x 7.6x 7.7x 7.7x 7.8x 7.9x 8.0x 8.1x 2021E $675 6.9x 7.9x 8.0x 8.1x 8.2x 8.3x 8.4x 8.5x 8.6x 8.7x 2022E 775 6.0x 6.9x 7.0x 7.1x 7.2x 7.2x 7.3x 7.4x 7.5x 7.6x 2021E $691 6.7x 7.8x 7.9x 7.9x 8.0x 8.1x 8.2x 8.3x 8.4x 8.5x 2022E 758 6.1x 7.1x 7.2x 7.2x 7.3x 7.4x 7.5x 7.6x 7.7x 7.8x Consensus Jan. 3 Mgmt Case Dec. 3 Mgmt Case

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30 CY ’21E–’22E Rev. Growth CY ’22E EBITDA Margin CY ’21E–’22E EBITDA Growth Benchmarking RETURN’s Financial Metrics vs. Peers Source: Company filings, Management projections and FactSet as of January 6, 2022. December 3 Management Case based on Management projections provided on December 3, 2021. January 3 Management Case based on Management projections provided on January 3, 2022. Note: Percentiles exclude RETURN. EBITDA is unburdened for stock-based compensation. Net leverage based on LTM values. January 3 Mgmt. Case Peers RETURN Per Management Projections RETURN (Consensus) RETURN (Consensus) RETURN (Consensus) Peer Mean 25th Percentile Peer Median 75th Percentile Net Leverage RETURN (Consensus) Peer Mean 25th Percentile Peer Median 75th Percentile Peer Mean 25th Percentile Peer Median 75th Percentile Peer Mean 25th Percentile Peer Median 75th Percentile January 3 Mgmt. Case January 3 Mgmt. Case 2.9x 2.3x 2.8x 1.2x 3.7x 3.5x 2.9x 2.8x 1.2x 1.1x 17% 15% 15% 11% 23% 17% 15% 12% 11% 10% 12% 12% 15% 14% 12% 11% 27% 15% 12% 11% 10% 3% 15% 7% 7% 9% 7% 7% 19% 10% 7% 7% 7% 5% 14% 13% N / A January 3 Mgmt. Case December 3 Mgmt. Case December 3 Mgmt. Case December 3 Mgmt. Case December 3 Mgmt. Case

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31 CY ’19A–’21E Revenue CAGR CY ’19A-’21E EBITDA Margin Change (bps) CY ’19A–’21E EBITDA CAGR Benchmarking RETURN’s Financial Metrics vs. Peers (Cont.) Source: Company filings, Management projections and FactSet as of January 6, 2022. January 3 Management Case based on Management projections provided on January 3, 2022. Note: Percentiles exclude RETURN. EBITDA is unburdened for stock-based compensation. PGT Innovations’ financials are pro forma for the acquisitions of NewSouth Window Solutions and Anlin Windows and Doors. January 3 Mgmt. Case Peers RETURN Per Management Projections RETURN (Consensus) RETURN (Consensus) RETURN (Consensus) Peer Mean 25th Percentile Peer Median 75th Percentile Peer Mean 25th Percentile Peer Median 75th Percentile Peer Mean 25th Percentile Peer Median 75th Percentile January 3 Mgmt. Case January 3 Mgmt. Case 10% 9% 8% 6% 17% 10% 9% 8% 6% 5% 8% 21% 9% 7% 7% 22% 21% 15% 7% 7% (14%) 14% +300 +7 +36 (265) +458 +300 +128 +36 (265) (491) +122

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32 Historical Multiples L5Y L3Y LTM Mean Mean Mean Current RETURN 7.1x 6.9x 6.8x 6.1x Peers 8.0x 7.8x 7.8x 7.4x Δ vs. Peers (0.9x) (0.8x) (1.0x) (1.3x) 4.0x 6.0x 8.0x 10.0x 12.0x Jan-17 Jan-18 Jan-19 Jan-20 Jan-21 Jan-22 $0 $5 $10 $15 $20 $25 $30 $35 Jan-17 Jan-18 Jan-19 Jan-20 Jan-21 Jan-22 Historical RETURN Trading and Valuation vs. Peers Source: FactSet and Wall Street research as of January 6, 2022. Note: EBITDA is unburdened for stock-based compensation. Peers consist of American Woodmark, Jeld-Wen, Masonite International, Owens Corning and PGT Innovations. RETURN Valuation vs. Peers (EV / NTM EBITDA) 6.1x 7.4x 7.6x 8.0x Current: $17.59 +12% COPY Offer: $23.50 +60% RETURN Share Price Performance vs. Peers Peer Group Mean RETURN Δ vs. Peers Δ: (0.3x) Δ: (1.3x) Historical Returns L5Y L3Y LTM RETURN +12% +125% +53% Peers +60% +92% +6%

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33 +0.2x +1.2x (3.4x) +0.1x +0.5x (1.0x) (2.1x) +0.9x 263% 114% (6%) 311% (48%) (43%) (92%) (42%) Benchmarking Performance in Recessions vs. Recovery Cycles Source: FactSet as of January 6, 2022. Note: Great Recession reflects Dec. 1, 2007 – July 1, 2009. Post Great Recession reflects Jan. 1, 2010 – Jan. 1, 2020. COVID Recession reflects Feb. 19, 2020 – May 1, 2020. Post COVID Recession reflects May 1, 2020 – Current. (1) Book value per share decreased from $7.46 as of December 31, 2019 to $2.76 as of April 4, 2020 due to an increase in accumulated deficit. Accumulated deficit totaled ~$281mm as of December 31, 2019 and ~$824mm as of April 4, 2020. (2) Peers consist of American Woodmark, Jeld-Wen, Masonite, Owens Corning and PGT Innovations. Total Shareholder Return Change in Price / Book Value Recession Cycles Recovery Cycles “Great Recession” “COVID Recession” Post “Great Recession” Post “COVID Recession” RETURN Peer Median(2) Book value decreased by ~60% due to a large increase in accumulated deficit(1)

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34 26% 24% 19% 16% (10%) 5% (38%) (9%) Benchmarking Performance in Recessions vs. Recovery Cycles (Cont.) Revenue CAGR Source: FactSet as of January 6, 2022. Note: Great Recession reflects Dec. 1, 2007 – July 1, 2009. Post Great Recession reflects Jan. 1, 2010 – Jan. 1, 2020. COVID Recession reflects Feb. 19, 2020 – May 1, 2020. Post COVID Recession reflects May 1, 2020 – Current. (1) Peers consist of American Woodmark, Jeld-Wen, Masonite, Owens Corning and PGT Innovations. RETURN Peer Median(1) 7% 11% 8% 4% 12% 16% 13% 15% Avg. EBITDA Margin Recession Cycles Recovery Cycles “Great Recession” “COVID Recession” Post “Great Recession” Post “COVID Recession”

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35 – $10.00 $20.00 $30.00 Dec-19 Jun-20 Dec-20 Jun-21 Dec-21 Outlook Target Valuation Operating Metrics 2022E '20A-'22E % Prem. EV / 2022E 2022E EBITDA EBITDA Broker Price Target To Current Base Year EBITDA Revenue EBITDA Margin CAGR 53% 2022E NA $6,118 $768 12.6% 12.5% 42% 2022E 7.7x 6,109 748 12.2% 11.0% 31% 2022E 6.5x 6,119 767 12.5% 12.4% 8% 2022E 7.0x 5,706 731 12.8% 9.7% Median 36% 7.0x $6,113 $758 12.5% 11.7% $27 $25 $23 $19 $24 Current Analyst Perspectives on RETURN RETURN Analyst Sentiment Over Time Buy Hold Buy Hold Sell RETURN Share Price Median Price Target $24.00 $17.59 (1) Source: Wall Street research as of January 6, 2022. (1) Based on RETURN’s share price of $17.59 as of January 6, 2022.

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36 Premia Paid Analysis – Go-Private and All-Cash Transactions Premiums paid in precedent transactions Source: FactSet as of January 6, 2022. Note: Includes complete and pending transactions. Excludes finance, real estate and insurance targets, as well as transactions with premiums greater than 200%. (1) Premium to unaffected share price for go-privates over the last 10 years involving U.S. public companies $1-10bn in transaction value. (2) Premium to unaffected share price for all-cash transactions over the last 10 years involving U.S. public companies $1-10bn in transaction value. (3) Based on RETURN’s share price of $17.59 as of January 6, 2022. (4) Represents implied share prices based on RETURN’s 52-week high share price of $19.50 and related 25th and 75th percentile premiums for precedent transactions. (5) Represents implied share prices based on RETURN’s 30-day VWAP of $16.46 and related 25th and 75th percentile premiums for precedent transactions. Go-Private Premiums(1) All-Cash Premiums(2) Implied RETURN Share Price(3) $20.58 $22.38 $23.17 $25.14 $28.10 Implied RETURN Share Price(3) $20.90 $23.00 $24.38 $26.63 $30.47 17.0% 27.2% 31.7% 42.9% 59.8% 25th Percentile Median Mean 75th Percentile 90th Percentile 18.8% 30.7% 38.6% 51.4% 73.2% 25th Percentile Median Mean 75th Percentile 90th Percentile $17.95 $21.88 $18.56 $22.03 $23.66 $24.11 $19.37 $19.64 52-Week High(4) 30-Day VWAP(5)

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37 Source: FactSet as of January 6, 2022. Note: Dollars in billions. Includes complete and pending transactions for U.S. public companies equal to or greater than $1bn in enterprise value. Excludes energy, finance and insurance targets. (1) Represents all-cash transactions involving an acquiror with a majority ownership position acquiring an additional 2%-50% of the target’s shares resulting in 100% ownership. (2) RETURN premia based on COPY offer of $23.50 per share, share price of $17.59 as of January 6, 2022, 30-day VWAP of $16.46 and 52-week high of $19.50. Squeeze-Out Transactions(1) Enterprise % Owned Premium to Share Price Ann. Date Acquiror Target Value ($bn) Pre-Txn 1-Day Prior 30-Day VWAP 52-Wk High Nov-19 Kyocera AVX $3.0 72% 45% 40% 16% Jun-18 Roche Foundation Medicine 5.1 57% 29% 47% 28% Nov-12 Danfoss Sauer-Danfoss 2.6 76% 49% 48% 5% Jul-08 Roche Genentech 97.8 56% 16% 24% 16% Feb-05 Novartis Eon Labs 2.6 68% 11% 17% (30%) Jan-05 Danisco Genencor International 1.2 84% 24% 19% -- Jan-05 News Corp. Fox Entertainment Group 19.0 59% 11% 12% 8% Feb-02 Sabre Holdings Travelocity.com 1.0 70% 20% -- -- Feb-02 Limited Brands Intimate Brands 9.8 84% 10% -- -- Nov-01 UtiliCorp United Aquila 2.0 80% 15% -- -- Median 71% 18% -- -- RETURN(2) 49% 34% 43% 21% Premia Paid Analysis – Squeeze-Out Transactions

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38 Source: FactSet as of January 6, 2022. Note: Dollars in billions. Includes complete and pending transactions for U.S. public companies equal to or greater than $1bn in enterprise value. Excludes energy, finance and insurance targets. (1) Represents all-cash transactions involving an acquiror with an ownership position of 20%-50% acquiring the remainder of the target’s shares. (2) RETURN premia based on COPY offer of $23.50 per share, share price of $17.59 as of January 6, 2022, 30-day VWAP of $16.46 and 52-week high of $19.50. Non-Controlling Ownership Transactions(1) Premia Paid Analysis – Acquisitions with Existing Buyer Stake Enterprise % Owned Premium to Share Price Ann. Date Acquiror Target Value ($bn) Pre-Txn 1-Day Prior 30-Day VWAP 52-Wk High Oct-19 Marubeni; Mizuho Leasing Aircastle $7.3 29% 34% 40% 34% Nov-18 Nascar International Speedway 1.9 39% 14% 22% (5%) Jan-16 Brookfield Asset Management Rouse Properties 2.7 33% 35% 25% (9%) Jun-13 Hunt Centerline 1.1 41% 18% 18% (4%) Jun-13 David Murdock Dole Food 2.8 40% 32% 32% (6%) Jun-11 MacAndrews & Forbes M&F Worldwide 2.5 43% 47% 16% (16%) Sep-09 Harbinger Capital Partners SkyTerra 1.5 49% 47% 54% 10% Dec-06 Colony Capital / Fertitta Family Station Casinos 8.6 27% 30% -- 12% Nov-06 SAINT Swift Transportation 2.6 27% 34% 28% -- Jun-06 Brookfield Properties Trizec Properties 6.5 38% 18% 22% 10% Apr-06 Novartis Chiron 10.0 42% 32% 17% 5% Sep-02 David Murdock Dole Food 2.4 23% 37% -- (1%) Median 39% 33% 23% (1%) RETURN(2) 49% 34% 43% 21%

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39 Debt / Unlevered Beta Equity 1.10 1.15 1.20 1.25 1.30 10% 11.2% 11.6% 11.9% 12.3% 12.6% 20% 11.0% 11.3% 11.7% 12.0% 12.4% 30% 10.8% 11.2% 11.5% 11.8% 12.2% 40% 10.7% 11.0% 11.3% 11.7% 12.0% 50% 10.5% 10.9% 11.2% 11.5% 11.9% 60% 10.4% 10.7% 11.1% 11.4% 11.7% Weighted Average Cost of Capital Analysis – RETURN Selected Public Companies Illustrative WACC IllustrativeWACC Sensitivity Source: Public company filings, Wall Street research, Bloomberg, S&P Capital IQ and FactSet as of January 6, 2022. Note: Dollars in millions. Companies sorted by market cap. (1) Represents adjusted two-year weekly beta relative to S&P 500. (2) Unlevered Beta equals (Levered Beta / (1 + (1 - Tax Rate) * (Debt / Equity)). Tax rate used is 25%. (3) Reflects median for Peer Observed. (4) Levered Beta equals (Unlevered Beta * (1 + (1 - Tax Rate) * (Debt / Equity)). Tax rate used is 25%. (5) Reflects yield on 20-year U.S. Treasury. (6) Reflects U.S. long-horizon equity risk premium per Duff & Phelps 2021 valuation handbook. (7) Reflects size premium for companies with market capitalizations between ~$1,592mm and ~$2,445mm per Duff & Phelps 2021 valuation handbook. (8) Peer Observed pre-tax cost of debt is based on the BB U.S. high-yield index effective yield per St. Louis Fed. RETURN Observed pre-tax cost of debt is based on yield to worst of RETURN’s senior notes due 2029. (9) WACC equals ((Debt / Capitalization * After-Tax Cost of Debt) + (Equity / Capitalization * Cost of Equity)). Market Debt Debt / Beta Company Cap ($mm) ($mm) Equity Levered(1) Unlevered(2) Owens Corning $9,482 $3,095 33% 1.45 1.17 Masonite 2,760 878 32% 1.57 1.27 JELD-WEN 2,475 1,822 74% 1.85 1.19 PGT Innovations 1,316 635 48% 1.51 1.11 American Woodmark 1,102 506 46% 1.70 1.26 75th Percentile 48% 1.70 1.26 Mean 46% 1.62 1.20 Median 46% 1.57 1.19 25th Percentile 33% 1.51 1.17 RETURN $2,248 $3,087 137% 2.00 0.99 Peer RETURN Observed Observed Unlevered Beta(3) 1.19 0.99 Debt / Equity(3) 46% 137% Levered Beta(4) 1.600 2.004 Risk-Free Rate(5) 2.1% 2.1% Market Risk Premium(6) 7.3% 7.3% Market Size Premium(7) 1.4% 1.4% Cost of Equity 15.1% 18.0% Pre-Tax Cost Of Debt(8) 3.56% 3.86% Tax Rate 25.0% 25.0% After-Tax Cost Of Debt 2.7% 2.9% % Equity 68.5% 42.1% % Debt 31.5% 57.9% Estimated WACC(9) 11.2% 9.3% For Reference Only

Exhibit (c)(5)

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February 9, 2022 Presentation to the Special Committee Project RETURN

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1 Disclaimer This presentation has been prepared by Centerview Partners LLC (“Centerview”) for use solely by the management and Special Committee of RETURN, Inc.(“RETURN”) in connection with its evaluation of a proposed transaction involving RETURN and for no other purpose. The information contained herein is based upon information supplied by or on behalf of RETURN and publicly available information, and portions of the information contained herein may be based upon statements, estimates and forecasts provided by RETURN. Centerview has relied upon the accuracy and completeness of the foregoing information, and has not assumed any responsibility for any independent verification of such information or for any independent evaluation or appraisal of any of the assets or liabilities (contingent or otherwise) of RETURN or any other entity, or concerning the solvency or fair value of RETURN or any other entity. With respect to financial forecasts, Centerview has assumed that such forecasts have been reasonably prepared on bases reflecting the best currently available estimates and judgments of the management of RETURN as to the future financial performance of RETURN, and at your direction Centerview has relied upon such forecasts, as provided by RETURN’s management, with respect to RETURN. Centerview assumes no responsibility for and expresses no view as to such forecasts or the assumptions on which they are based. The information set forth herein is based upon economic, monetary, market and other conditions as in effect on, and the information made available to us as of, the date hereof, unless indicated otherwise and Centerview assumes no obligation to update or otherwise revise these materials. The financial analysis in this presentation is complex and is not necessarily susceptible to a partial analysis or summary description. In performing this financial analysis, Centerview has considered the results of its analysis as a whole and did not necessarily attribute a particular weight to any particular portion of the analysis considered. Furthermore, selecting any portion of Centerview’s analysis, without considering the analysis as a whole, would create an incomplete view of the processunderlying its financial analysis. Centerview may have deemed various assumptions more or less probable than other assumptions, so the reference ranges resulting from any particular portion of theanalysis described above should not be taken to be Centerview’s view of the actual value of RETURN. These materials and the information contained herein are confidential, were not prepared with a view toward public disclosure, and may not be disclosed publicly or made available to third parties without the prior written consent of Centerview. These materials and any other advice, written or oral, rendered by Centervieware intended solely for the benefit and use of the management and Special Committee of RETURN (in its capacity as such) in its consideration of the proposed transaction, and are not for the benefit of, and do not convey any rights or remedies for any holder of securities of RETURN or any other person. Centerview will not be responsible for and has not provided any tax, accounting, actuarial, legal or other specialist advice. These materials are not intended to provide the sole basis for evaluating the proposed transaction, and this presentation does not represent a fairness opinion, recommendation, valuation or opinion of any kind, and is necessarily incomplete and should be viewed solely in conjunction with the oral presentation provided byCenterview.

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2 Situation Update . Following the Special Committee meeting on January 7, Management and Centerview have advanced several key workstreams with regards to the non-binding indication of interest from COPY, including: – Management and Centerview have completed multiple requests related to COPY’s business, financial and operational due diligence, including management calls, site visits and quality of earnings diligence • Please refer to page 14 for a summary – On February 3, 2022, Management provided Centerview with an updated Management Plan (referred to herein as the “February 3 Management Case”), which Centerview subsequently shared with COPY • February 3 Management Case is pro forma for the acquisition of Union Corrugating Company (“UCC”) and reflects actual balance sheet figures as of December 31, 2021 . Centerview’s last interaction with COPY was on February 7, 2022, where COPY communicated the following: – Prepared to increase the offer to $24.50 per share for the shares not owned by COPY – Prepared to proceed expeditiously towards signing a definitive agreement . Centerview’s financial analysis has been updated to reflect the new offer price and February 3 Management Case . Today’s materials include an overview of COPY’s most recent proposal and Centerview’s financial analysis

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3 Table of Contents Section 1 ........................................................................................ Recap of COPY’s 2/7/22 Proposal Section 2 ....................................................... Centerview’s Updated Preliminary Financial Analysis Appendix ....................................................................................................... Supplementary Materials

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Recap of COPY’s 2/7/22 Proposal 1

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5 Updated Value Communicated by COPY on February 7, 2022 Price per Share Implied Premia . $24.50 per share – Implies an increase of 4.3% from an offer of $23.50 on Dec. 22, 2021 – Implies an increase of 6.5% from an offer of $23.00 on Nov. 22, 2021 – Implies an increase of 11.4% from an initially considered offer of $22.00 on Nov. 12, 2021 . 47.8% to current share price of $16.58 . 54.1% to 30-day VWAP of $15.90 . 56.8% to 90-day VWAP of $15.63 . 75.8% to 1-year VWAP of $13.93 . 25.6% to 52-week high of $19.50(1) Summary Financials Source: Management projections provided on February 3, 2022. Company filings and FactSet as of February 8, 2022. Note: Dollars in millions, except per share amounts. (1) Reflects closing share price trading levels. (2) RETURN balance sheet and share count as of December 31, 2021. Overview COPY Current Proposal Implied Valuation Share Price $16.58 $24.50 % Premium to Current – 47.8% Diluted Shares Outstanding(2) 131.6 132.2 Equity Value $2,181 $3,238 Less: Cash(2) (394) (394) Plus: Debt(2) 3,081 3,081 Enterprise Value $4,867 $5,924 Implied Multiples Multiple: Metric: 2021A $721 6.8x 8.2x 2022E 750 6.5x 7.9x EV / EBITDA (February 3 Mgmt. Case) Consideration and Financing . 100% cash consideration . Financing discussions with Goldman Sachs, RBC, Deutsche Bank and UBS have advanced toward a formal financing commitment . Indebtedness would be incurred by a Holdco above the RETURN credit group following the merger – RETURN’s outstanding debt would stay in place

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6 % Growth % Margin Mgmt. Case 2021E 2022E 2023E 2024E 2025E 2026E November 3 22% 14% 6% 5% 5% 6% December 3 22% 14% 5% 0% 1% 5% January 3 22% 13% 5% 0% 1% 5% February 3 23% 12% 5% 0% 1% 5% % Margin % Margin Mgmt. Case 2021E 2022E 2023E 2024E 2025E 2026E November 3 12% 12% 13% 14% 15% 16% December 3 12% 12% 13% 14% 14% 15% January 3 12% 12% 13% 13% 13% 14% February 3 13% 12% 13% 13% 13% 14% % Margin Mgmt. Case 2021E 2022E 2023E 2024E 2025E 2026E November 3 5% 7% 8% 8% 9% 9% December 3 5% 7% 8% 9% 9% 9% January 3 5% 6% 8% 8% 8% 8% February 3 1% 11% 7% 8% 8% 8% $427 $548 $585 $638 $705 $427 $549 $587 $590 $612 $251 $399 $514 $551 $556 $577 $70 $684 $499 $565 $569 $582 $-- $200 $400 $600 $800 $1,000 2021E 2022E 2023E 2024E 2025E 2026E $775 $880 $981 $1,090 $1,216 $775 $872 $898 $940 $1,027 $675 $725 $820 $844 $889 $975 $721 $750 $853 $879 $913 $992 $600 $700 $800 $900 $1,000 $1,100 $1,200 $1,300 2021E 2022E 2023E 2024E 2025E 2026E $6,235 $6,601 $6,947 $7,318 $7,767 $6,235 $6,562 $6,572 $6,660 $6,972 $5,458 $6,185 $6,510 $6,518 $6,609 $6,920 $5,746 $6,428 $6,766 $6,778 $6,857 $7,175 $5,000 $5,500 $6,000 $6,500 $7,000 $7,500 $8,000 2021E 2022E 2023E 2024E 2025E 2026E Overview of RETURN Management Projections Net Sales Adj. EBITDA Unlevered Free Cash Flow(1)(2) Source: Management projections provided on November 3, 2021, December 3, 2021, January 3, 2022 and February 3, 2022. Note: Dollars in millions. Represents actuals for February 3 projections. (1) Includes stock-based compensation as an expense. (2) Includes a $75mm payment from a settlement agreement filed on August 25, 2021 between parties to a class action complaint filed on November 14, 2018. The settlement remains subject to court approval. RETURN’s counsel believes that the likelihood of approval of the settlement is over 95%. (3) 2021 figures include UCC. January 3 February 3(3) December 3 As of: November 3 (Base Case – 2022 Trends Continue)

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Centerview’s Updated Preliminary Financial Analysis 2

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8 Source: Company filings, press releases, CapIQ, FactSet and Management projections provided on February 3, 2022. Note: Market data as of February 8, 2022. (1) Based on RETURN’s share price of $16.58 as of February 8, 2022, 30-day VWAP of $15.90 and 52-week high of $19.50. . Selected publicly-traded comparable companies in the building products sector . Valuation multiples based on Enterprise Value / CY 2022E EBITDA . Multiples applied to RETURN’s 2022E EBITDA per RETURN February 3 Management Case . Based on RETURN February 3 Management Case . Perpetuity growth rate of 1.75% - 2.50% . Weighted average cost of capital (“WACC”) range of 10.5% - 12.5% . Selected precedent M&A transactions in the building products sector – Includes transactions completed with U.S. targets in the last 5 years (deal size greater than $1bn) . Multiples applied to RETURN’s LTM EBITDA as of December 31, 2021 . RETURN’s closing share price trading levels over the last 52 weeks 52-Week Trading Range Selected Precedent Transactions Analysis Discounted Cash Flow (DCF) Analysis For Reference Only . Range of current Wall Street analyst price targets for RETURN Analyst Price Targets Selected Public Company Analysis Premia Paid Analysis . Range of premia paid on selected take-private transactions – Includes transactions completed with U.S. targets in the last 10 years (deal size of $1bn - $10bn) . Premia applied to RETURN’s current share price, 30-day VWAP and 52-week high(1) Overview of Centerview’s Preliminary Financial Analysis

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9 $11.50 $26.00 $20.75 $11.10 $19.00 $19.25 $18.00 $18.00 $19.50 $39.50 $32.50 $19.50 $27.00 $23.50 $21.25 $21.75 – $10.00 $20.00 $30.00 $40.00 Source: Management projections provided on February 3, 2022, FactSet as of February 8, 2022 and Wall Street research. Note: Dollars in millions, except per share figures. Implied share prices rounded to the nearest $0.25. Market data as of February 8, 2022. RETURN financials reflect shares outstanding and balance sheet figures as of December 31, 2021. (1) Implied share price calculated as implied enterprise value less $2.7bn of net debt, consisting of $3.1bn of debt and $0.4bn of cash, divided by fully diluted shares outstanding. Fully diluted shares outstanding based on 127.0mm basic shares, 3.0mm stock options with a weighted average exer cise price of $10.28, 1.9mm RSUs and 1.4mm PSUs. EBITDA is unburdened for stock-based compensation. 52-Week Trading Range Selected Public Comparables Selected Precedent Transactions Implied Share Price(1) LTM (as of 12/31/21) LTM EBITDA: $721mm Multiple: 8.5x - 11.0x February 3 Mgmt. Case WACC: 10.5% - 12.5% PGR: 1.75% - 2.50% Closing Price Low - High February 3 Mgmt. Case 2022E EBITDA: $750mm Multiple: 5.6x - 7.0x Price as of 2/4/22: $14.09 Analyst Price Targets Price Target Low - High For Reference Only DCF Analysis Premia Paid Analysis Implied Price Unaffected Share Price: $14.09 Premium: 16.7% - 42.2% COPY Offer on 2/7/22: $24.50 Preliminary Financial Analysis Implied Price 30-Day VWAP: $15.90 Premium: 12.8% - 33.8% Implied Price 52-Week High: $19.50 Premium: (7.9%) - 12.0%

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10 Selected Public Trading Comparables Source: Company filings and FactSet as of February 8, 2022. Note: Dollars in billions. EBITDA is unburdened for stock-based compensation. All figures are based on RETURN fiscal year ending December 31. Companies sorted by equity value. RETURN management case revenue and EBITDA growth based on 2021 actuals. RETURN net leverage based on LTM EBITDA and balance sheet figures as of December 31, 2021. Revenue EBITDA EBITDA Net Equity Enterprise EV / EBITDA Growth Growth Margin Leverage Company Value Value 2022E '21E - '22E '21E - '22E 2022E LTM Owens Corning $9.3 $11.4 5.7x 5% 3% 23% 1.1x Masonite 2.4 2.9 6.1x 7% 12% 17% 1.1x JELD-WEN 2.2 3.6 6.6x 7% 14% 11% 2.9x PGT Innovations 1.1 1.7 8.2x 19% 27% 15% 3.4x American Woodmark 0.9 1.4 7.3x 7% 11% 10% 3.0x Median $2.2 $2.9 6.6x 7% 12% 15% 2.9x RETURN (February 3 Mgmt. Case) $2.2 $4.9 6.5x 12% 4% 12% 3.7x

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11 Target EV / LTM Target's LTM Financials Date Acquiror Company EV Sales EBITDA Sales EBITDA Margin 7/19/21 Carlisle Companies Henry $1,575 3.1x 13.2x $511 $119 23.3% 6/20/21 Westlake Chemical Boral's N.A. Building Products 2,150 2.0x ~10.4x 1,100 ~206 ~19.0% 6/7/21 Nucor Cornerstone's Insulated Metal Panels 1,000 2.6x 13.3x 389 75 19.3% 11/15/19 ACPI Masco Cabinetry 1,000 1.1x 9.8x 950 102 10.7% 11/12/19 Saint-Gobain Continental Building Products 1,434 2.8x 10.4x 514 138 26.8% 7/17/18 NCI Ply Gem 3,700 1.4x 10.9x 2,649 341 12.9% 1/31/18 CD&R Ply Gem 2,400 1.2x 9.7x 2,056 246 12.0% 12/1/17 American Woodmark RSI Home Products 1,075 1.9x 8.7x 560 123 22.0% Median 1.9x 10.4x 19% Mean 2.0x 10.8x 18% Source: Company press releases, news articles, Wall Street research, CapIQ and FactSet. Note: EBITDA is unburdened for stock-based compensation. Transaction multiples represent approximate figures due to lack of disclosures. Multiples are on LTM basis unless otherwise noted. (1) Reflects midpoint of Westlake’s disclosure on acquisition call. Stock-based compensation reflects segment’s sales contribution. (2) Represents FY’18A figures. Stock-based compensation reflects segment’s sales contribution. (3) Represents FY’18E figures per merger proxy. Assumes stock-based compensation reflects FY’17A stock-based compensation as a percentage of FY’17A sales. Selected acquisitions of U.S. building products companies over the last 5 years with a deal size greater than $1bn (2) (1) (2) (2) (2) (3) (3) (3) (3) Selected Precedent Transactions (1)

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12 Discounted Cash Flow Analysis – February 3 Management Case Source: Management projections provided on February 3, 2022. Note: Dollars in millions, except per share items. Implied share prices rounded to nearest $0.25. (1) Adjusted EBITDA includes stock-based compensation as a cash expense. (2) Terminal year assumes D&A equal to CapEx going forward. (3) Implied terminal multiples based on adjusted EBITDA unburdened for stock-based compensation. Unlevered Free Cash Flow Build Terminal ($ in millions) 2022E 2023E 2024E 2025E 2026E Year Revenue $6,428 $6,766 $6,778 $6,857 $7,175 $7,175 % Growth 12% 5% 0% 1% 5% Adj. EBITDA (less: SBC)(1) $730 $833 $859 $893 $972 $972 % Margin 11% 12% 13% 13% 14% 14% (Less): D&A(2) (276) (252) (227) (203) (179) (179) EBIT $453 $581 $632 $690 $793 $793 (Less): Taxes (136) (174) (190) (207) (238) (238) NOPAT $317 $407 $442 $483 $555 $555 Plus: D&A(2) 276 252 227 203 179 179 Plus / (Less): Change in NWC 199 9 65 54 28 21 (Less): CapEx (161) (169) (169) (171) (179) (179) Plus: Cash Settlement (tax adj.) 53 -- -- -- -- -- Unlevered Free Cash Flow $684 $499 $565 $569 $582 $575 Implied Share Price Implied Terminal Multiple(3) Discount Perpetuity Growth Rate Rate 1.75% 2.13% 2.50% 10.5% $29.25 $30.75 $32.50 11.5% 24.50 25.75 27.00 12.5% 20.75 21.50 22.75 Discount Perpetuity Growth Rate Rate 1.75% 2.13% 2.50% 10.5% 6.7x 7.1x 7.4x 11.5% 6.1x 6.3x 6.6x 12.5% 5.5x 5.7x 5.9x

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Appendix Supplementary Materials

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14 Overview of Completed Due Diligence . Several calls were conducted with RETURN’s leadership team to gain further insight into the Company, current business trajectory and updated financial outlook, including: – January 24, 2022: Financial overview discussion with RETURN’s CFO and select Finance team members – January 28, 2022: Corporate and Residential segment discussion with RETURN’s CEO, CFO and several members of the Executive team – February 2, 2022: Siding segment discussion with RETURN’s CEO, CFO and business unit leaders – February 3, 2022: Commercial segment discussion with RETURN’s CEO, CFO and business unit leaders Business & Commercial . Access provided to COPY and PwC for requested files and related discussions, including EBITDA adjustments, historical trends in financial statements, capital expenditures, and commitments & contingencies – Review of Grant Thornton’s audit workpapers for 2019 and 2020 Quality of Earnings . Manufacturing site visits were held during the week of January 24 and January 31, consisting of plant overviews and tours in Marion, WA, Auburn, WA, Sacramento, CA and North Brunswick, NJ . The North Brunswick, NJ visit was followed by a discussion session focused on several topics, including: – Procurement / supply chain, logistics, distribution and manufacturing – Individual plant review and discussion of upside opportunities . On February 7, 2022, RETURN’s CEO and CFO led a discussion on the Cornerstone Production System Operational Financing . Data room access was granted to financing partners Deutsche Bank, Goldman Sachs, RBC and UBS . Access was limited to information required for financing support, which included historical and near-term projected financial information and working capital, capital expenditure and commercial spread detail

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15 Preliminary January 2022 Results . Sales for January of $439mm was favorable by 14.5% vs. prior year mainly from pricing actions across all segments – Revenue was 4.8% favorable vs. plan . Adjusted EBITDA of $45.5mm favorable by $14.0mm vs. prior year – $14.2mm favorable vs. plan . Commercial – price over inflation driving favorable to plan performance – Volume slightly favorable . US Siding customer shipments vinyl favorable driven by pull forward demand ahead of February 1st price increase of 10%-12%, pricing consistent with plan but up 20% vs prior year . US Windows ASP of $215.28 which is up $10 from plan and December levels – unit volume down 4% due to weather and COVID challenges . Stone remains a challenge with lower volume and price under inflation . Canada basically on plan with some shipping delays due to cold weather Preliminary Results Commentary Source: Management figures provided on February 8, 2022. Note: Dollars in thousands. Net Sales Current Q1 Pro Prior vs. Q1 vs. Prior Dollars in thousands Month Forma Fcst. Plan Year Forecast vs. Plan Year Siding Segment Total $93,055 $89,130 $89,130 $93,390 $3,925 $3,925 ($335) Variance % 4.4% 4.4% (0.4%) Windows Segment Total $184,329 $190,978 $190,978 $171,235 ($6,649) ($6,649) $13,094 Variance % (3.5%) (3.5%) 7.6% Commercial Segment Total $161,541 $157,707 $157,707 $118,661 $3,834 $3,834 $42,880 Variance % 2.4% 2.4% 36.1% Consolidated Cornerstone $438,925 $418,841 $418,841 $383,286 $20,084 $20,084 $55,639 Variance % 4.8% 4.8% 14.5% Adj. EBITDA Current Q1 Pro Prior vs. Q1 vs. Prior Dollars in thousands Month Forma Fcst. Plan Year Forecast vs. Plan Year Siding Segment Total $13,881 $10,360 $10,360 $17,090 $3,521 $3,521 ($3,210) EBITDA % 14.9% 11.6% 11.6% 18.3% Windows Segment Total $16,152 $10,860 $10,860 $13,971 $5,293 $5,293 $2,181 EBITDA % 8.8% 5.7% 5.7% 8.2% Commercial Segment Total $25,903 $24,826 $24,826 $9,897 $1,077 $1,077 $16,006 EBITDA % 16.0% 15.7% 15.7% 8.3% Consolidated Cornerstone $45,456 $31,237 $31,237 $31,430 $14,219 $14,219 $14,026 EBITDA % 10.4% 7.5% 7.5% 8.2%

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16 $19.35 $19.35 $14.09 $24.05 $23.40 $28.75 $27.45 $10 $20 $30 $40 Current 2022 2023 $34.05 $38.55 $14.09 $28.50 $32.85 $22.95 $27.15 $10 $20 $30 $40 Current 2022 2023 NTM EV / EBITDA Multiple RETURN Current (6.5x) 3-Yr RETURN Average (6.9x) 3-Yr Peer Average (7.8x) Illustr. Cost Undiscounted Future Share Price (2022E) of Equity $25.85 $28.50 $34.00 14.5% $22.60 $24.90 $29.70 16.5% 22.20 24.45 29.20 18.5% 21.80 24.05 28.70 Memo: NTM EBITDA $750 $853 $879 Net Debt 2,686 2,142 1,738 Dil. Shares 131.6 131.6 131.6 Illustrative Future Share Price Present Value of Illustrative Future Share Price(4) Source: FactSet as of February 8, 2022 and Management projections provided on February 3, 2022. Note: Diluted shares in millions. Future share prices discounted to December 31, 2021. Share prices rounded to nearest $0.05. (1) Reflects management 2022E EBITDA projection. (2) NTM multiple based on RETURN 3-year average. (3) NTM multiple based on peer 3-year average. Peers consist of American Woodmark, Jeld-Wen, Masonite International, Owens Corning and PGT Innovations. (4) Illustrative future share price discounted at 18.5% based on RETURN’s cost of equity per RETURN observed figures. Present Value of YE 2022 Share Price Sensitivity February 3 Mgmt. Case at Current 6.5x NTM Multiple(1) February 3 Mgmt. Case at 3-Year Avg. 6.9x NTM Multiple(2) Future Share Price Breakeven Analysis – February 3 Management Case Analysis represents illustrative future share price assuming a range of EV / NTM EBITDA multiples applied to RETURN February 3 Management Case projections (1) February 3 Mgmt. Case at Peer 3-Year Avg. 7.8x NTM Multiple(3)

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17 Take-Private Considerations Source: Management projections provided on February 3, 2022. Note: Dollars in millions, except per share values. Implied share prices rounded to the nearest $0.25. (1) Assumes term loan paydown of $344mm from cash on hand. (2) As of December 31, 2021, net of term loan paydown. . Rollover of RETURN’s outstanding debt . Holdco debt to consist of new Unsecured Notes Management Case Ability-to-Pay Analysis (Implied Share Price) Key Assumptions Exit Multiple Target IRR 5.75x 6.38x 7.00x 15.0% $26.00 $28.25 $30.75 17.5% 24.50 26.75 28.75 20.0% 23.25 25.25 27.00 22.5% 22.00 23.75 25.50 25.0% 21.00 22.75 24.25 Reflects Offer Price of $24.50 per Share Illustrative Sources & Uses Rate (x) EBITDA $mm % of Total Rollover of Existing Term Loan(1) L + 3.25% 3.1x $2,236 37% Rollover of Existing Senior Notes 6.125% 0.7x 500 8% New Unsecured Notes 8.00% 2.3x 1,635 27% Sponsor Equity -- 2.4x 1,703 28% RETURN Cash on Hand(1) -- 0.1x 50 1% Total Sources 8.5x $6,124 100% Uses (x) EBITDA $mm % of Total Equity Value ($24.50 Offer Price) 4.5x $3,238 53% Rollover of Existing RETURN Debt(1)(2) 3.8x 2,736 45% Transaction / Financing Fees 0.1x 100 2% Minimum Cash 0.1x 50 1% Total Uses 8.5x $6,124 100% Sources Assumes Exit at Year-End 2026E, 6.0x Net Leverage and 8% Financing Costs . Minimum cash of $50mm . Balance sheet figures as of December 31, 2021

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18 Fiscal Year Ending December 31, 2021A 2022E 2023E 2024E 2025E 2026E Net Sales $5,746 $6,428 $6,766 $6,778 $6,857 $7,175 % Growth 23% 12% 5% 0% 1% 5% Gross Profit $1,238 $1,330 $1,490 $1,558 $1,652 $1,805 % Margin 22% 21% 22% 23% 24% 25% Operating Income $332 $451 $579 $630 $688 $791 % Margin 6% 7% 9% 9% 10% 11% Net Income $52 $262 $319 $383 $440 $528 % Margin 1% 4% 5% 6% 6% 7% Diluted Earnings per Share $0.41 $2.06 $2.52 $3.02 $3.47 $4.16 Adjusted EBITDA $721 $750 $853 $879 $913 $992 % Margin 13% 12% 13% 13% 13% 14% Unlevered Free Cash Flow(2) $70 $684 $499 $565 $569 $582 % Margin 1% 11% 7% 8% 8% 8% Source: Management projections provided on February 3, 2022. Note: Dollars in millions, except per share figures. EBITDA is unburdened for stock-based compensation. (1) Excludes $831mm gain on sale of IMP and DBCI business units. (2) Includes stock-based compensation as an expense. (3) Includes a $75mm payment from a settlement agreement filed on August 25, 2021 between parties to a class action complaint filed on November 14, 2018. The settlement remains subject to court approval. RETURN’s counsel believes that the likelihood of approval of the settlement is over 95%. (3) RETURN February 3 Management Case Summary (1) (1) (1)

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19 Source: Management projections provided on February 3, 2022. Note: Dollars in millions. EBITDA is unburdened for stock based compensation. RETURN February 3 Management Case Segment Detail Fiscal Year Ending December 31, CAGR 2021A 2022E 2023E 2024E 2025E 2026E '21A-'23E '21A-'26E Windows Segment $2,454 $2,895 $3,027 $2,959 $3,076 $3,221 11% 6% % Growth 17% 18% 5% (2%) 4% 5% Commercial Segment 1,927 2,132 2,242 2,339 2,211 2,267 8% 3% % Growth 34% 11% 5% 4% (5%) 2% Siding Segment 1,364 1,651 1,747 1,731 1,819 1,937 13% 7% % Growth 18% 21% 6% (1%) 5% 6% Corporate Risk Adjustment (0) (250) (250) (250) (250) (250) Total Net Sales $5,746 $6,428 $6,766 $6,778 $6,857 $7,175 9% 5% % Growth 23% 12% 5% 0% 1% 5% Windows Segment $439 $587 $656 $678 $747 $825 22% 13% % Margin 18% 20% 22% 23% 24% 26% Commercial Segment 520 460 516 559 552 587 (0%) 2% % Margin 27% 22% 23% 24% 25% 26% Siding Segment 370 425 463 470 506 550 12% 8% % Margin 27% 26% 26% 27% 28% 28% Corporate Risk Adjustment (91) (142) (145) (149) (153) (157) Total Gross Profit $1,238 $1,330 $1,490 $1,558 $1,652 $1,805 10% 8% % Margin 22% 21% 22% 23% 24% 25% Windows Segment $255 $370 $418 $427 $471 $522 28% 15% % Margin 10% 13% 14% 14% 15% 16% Commercial Segment 333 261 300 322 305 319 (5%) (1%) % Margin 17% 12% 13% 14% 14% 14% Siding Segment 266 302 328 329 350 378 11% 7% % Margin 19% 18% 19% 19% 19% 20% Corporate Expenses (132) (133) (142) (149) (164) (177) Corporate Risk Adjustment -- (50) (50) (50) (50) (50) Total Adj. EBITDA $721 $750 $853 $879 $913 $992 9% 7% % Growth 26% 4% 14% 3% 4% 9% % Margin 13% 12% 13% 13% 13% 14%

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20 $0 $5 $10 $15 $20 $25 Feb-17 Feb-18 Feb-19 Feb-20 Feb-21 Feb-22 RETURN’s Historical Share Price Performance Source: FactSet and Wall Street research as of February 8, 2022. Note: M&A annotations only include transactions with a deal size greater than $100mm. (1) Reflects closing share price trading levels. $15.90 $16.58 +4% Jul. 17, 2018: NCI and Ply Gem announced merger Nov. 16, 2018: NCI and Ply Gem merger closed Jan. 17, 2019: Announced acquisition of Environmental Stoneworks Jul. 27, 2021: Announced divestiture of DBCI business Aug. 2, 2021: Announced acquisition of Cascade Windows Aug. 4, 2021: Announced CEO retirement and transition plan Aug. 9, 2021: Completed divestiture of IMP business RETURN’s Share Price Performance (Last 5 Years) Aug. 28, 2018: Ply Gem announced acquisition of Silver Line Division from Andersen Corporation Jun. 7, 2021: Announced divestiture of IMP business Nov. 9, 2021: Announced Q3’21 earnings and the acquisition of Union Corrugating Company Implied Premia COPY Proposal Share Price $24.50 vs. Current ($16.58) 47.8% vs. 30-Day VWAP ($15.90) 54.1% vs. 90-Day VWAP ($15.63) 56.8% vs. 1-Year VWAP ($13.93) 75.8% vs. 52-Week High ($19.50) 25.6% vs. 52-Week Low ($11.10) 120.7% (1) (1) COPY Offer: $24.50 Feb. 19, 2020: Pre-COVID trading

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21 Limited Trading Float Potentially Weighing on Valuation Source: Company filings and FactSet as of February 8, 2022. Float as a % of Basic Shares Outstanding 99% 98% 98% 96% 95% 42% OC AMWD DOOR PGTI JELD CNR ADTV as % of BSO: Top Shareholder: Top 10 Shareholders: 0.81% 0.62% 0.52% 0.40% 0.61% 0.50% 9.7% 15.0% 9.7% 14.2% 15.4% 49.2% Vanguard BlackRock Vanguard BlackRock Fidelity COPY 41.4% 61.9% 50.1% 60.6% 63.1% 71.7% RETURN

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22 RETURN Shareholder Basis Analysis Source: Management, Public filings, CapitalIQ, Wall Street research and FactSet as of February 8, 2022. Note: Dollars in millions. Cost basis calculated using FIFO method. List of shareholders excludes COPY, Golden Gate Capital and RETURN Executive Chairman James Metcalf. (1) Based on 127.0mm basic shares outstanding as of December 31, 2021 per Management. (2) Estimated cost basis of 23mm of retained shares from COPY’s 2009 investment in NCI is based on NCI’s Q3’09 10-Q filing. Estimated cost basis of 39mm of newly issued shares from NCI’s merger with Ply Gem is based on NCI’s share price of $12.16 as of November 16, 2018 – the last closing price before the merger closed. Shareholder Mkt. Val ($mm) % of O/S (1) Shares Held Est. Avg. Cost Basis American Century Investments $69.4 3.3% 4,184,914 $16.13 BlackRock 64.6 3.1% 3,897,794 14.27 Vanguard 59.1 2.8% 3,566,418 11.41 Barrow, Hanley, Mewhinney & Strauss 46.6 2.2% 2,810,018 16.29 Russell Investments 33.4 1.6% 2,014,700 15.92 Guardian Point Capital 33.2 1.6% 2,000,000 7.85 American Beacon Advisors 32.4 1.5% 1,952,379 16.05 DNB Asset Management 27.9 1.3% 1,683,875 8.45 Dimensional Fund Advisors 24.5 1.2% 1,479,853 13.73 TIAA 23.9 1.1% 1,442,155 9.51 King Street 23.2 1.1% 1,400,000 15.22 Wolf Hill Capital 21.3 1.0% 1,283,639 10.58 State Street Global Advisors 16.4 0.8% 988,796 15.68 RBF Capital 16.0 0.8% 962,997 5.76 Geode Capital Management 15.7 0.7% 948,279 13.39 J. Goldman & Co. 15.3 0.7% 919,882 12.00 Cooper Creek Partners 12.0 0.6% 723,893 15.10 Soviero Asset Management 11.3 0.5% 680,000 16.15 Voss Capital 10.8 0.5% 650,000 14.74 Invesco Capital Management 10.7 0.5% 645,431 16.03 Top 20 Holders (Excl. Insiders) $567.6 27.0% 34,235,023 $13.70 Reference: COPY $1,030.3 48.9% 62,143,416 $1.28 / $12.16 Top 20 Shareholders (Excluding COPY, Golden Gate Capital and Other Insiders) (2) Note: COPY’s estimated cost basis is based on 23mm of retained shares from their $250mm investment in NCI in 2009 ($1.28) and 39mm of newly issued shares following NCI’s merger with Ply Gem ($12.16)

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23 RETURN Analysis at Various Prices Source: Management projections, company filings, Wall Street research and FactSet as of February 8, 2022. Note: Dollars in millions, except per share values. RETURN balance sheet and share count as of December 31, 2021. COPY 02/07 Metric Current Proposal Illustrative Offer Price per Share Offer Price $16.58 $24.50 $25.00 $25.50 $26.00 $26.50 $27.00 Implied Premium / (Discount) vs. Current $16.58 --% 47.8% 50.8% 53.8% 56.8% 59.8% 62.8% vs. 52-Week High $19.50 (15.0%) 25.6% 28.2% 30.8% 33.3% 35.9% 38.5% vs.52-Week Low $11.10 49.4% 120.7% 125.2% 129.7% 134.2% 138.7% 143.2% vs. 30-Day VWAP $15.90 4.3% 54.1% 57.2% 60.4% 63.5% 66.7% 69.8% vs. 90-Day VWAP $15.63 6.1% 56.8% 60.0% 63.2% 66.4% 69.6% 72.8% vs. 1-Year VWAP $13.93 19.0% 75.8% 79.4% 83.0% 86.6% 90.2% 93.8% (x) DSO 131.6 132.2 132.2 132.2 132.2 132.3 132.3 Equity Value $2,181 $3,238 $3,305 $3,372 $3,438 $3,505 $3,572 (+) Debt 3,081 3,081 3,081 3,081 3,081 3,081 3,081 (-) Cash (394) (394) (394) (394) (394) (394) (394) Enterprise Value $4,867 $5,924 $5,991 $6,058 $6,124 $6,191 $6,258 Implied EV / EBITDA Multiples 2021A $721 6.8x 8.2x 8.3x 8.4x 8.5x 8.6x 8.7x 2022E 750 6.5x 7.9x 8.0x 8.1x 8.2x 8.3x 8.3x Feb. 3 Mgmt Case

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24 CY ’21E–’23E Rev. CAGR(1) CY ’22E EBITDA Margin CY ’21E–’23E EBITDA CAGR(1) Benchmarking RETURN’s Financial Metrics vs. Peers Source: Company filings, Management projections and FactSet as of February 8, 2022. Note: Percentiles exclude RETURN. EBITDA is unburdened for stock-based compensation. RETURN Management Case net leverage based on LTM values as of December 31, 2021. (1) Reflects management case growth for ’21A –’23E. (2) AMWD ’23E EBITDA estimates unavailable. Represents ’21E –’22E growth. Peers RETURN RETURN (Feb. 3rd Case) Peer Mean 25th Percentile Peer Median 75th Percentile Net Leverage Peer Mean 25th Percentile Peer Median 75th Percentile Peer Mean 25th Percentile Peer Median 75th Percentile Peer Mean 25th Percentile Peer Median 75th Percentile 3.0x 2.3x 2.9x 1.1x 3.7x 3.4x 3.0x 2.9x 1.1x 1.1x 17% 15% 15% 11% 23% 17% 15% 12% 11% 10% 11% 9% 9% 8% 15% 11% 9% 9% 8% 4% (2) 6% 7% 6% 5% 12% 9% 6% 6% 5% 5% RETURN (Feb. 3rd Case) RETURN (Feb. 3rd Case) RETURN (Feb. 3rd Case)

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25 CY ’19A–’21E Revenue CAGR(1) CY ’19A-’21E EBITDA Margin Change(1) CY ’19A–’21E EBITDA CAGR(1) Benchmarking RETURN’s Financial Metrics vs. Peers (Cont.) Source: Company filings, Management projections and FactSet as of February 8, 2022. Note: Percentiles exclude RETURN. EBITDA is unburdened for stock-based compensation. PGT Innovations’ financials are pro forma for the acquisitions of NewSouth Window Solutions and Anlin Windows and Doors. (1) Reflects management case growth for ’19A –’21A. RETURN (Feb. 3rd Case) RETURN (Feb. 3rd Case) RETURN (Feb. 3rd Case) Peer Mean 25th Percentile Peer Median 75th Percentile Peer Mean 25th Percentile Peer Median 75th Percentile Peer Mean 25th Percentile Peer Median 75th Percentile 10% 9% 8% 6% 17% 10% 8% 8% 6% 5% 21% 9% 7% 7% 22% 21% 16% 7% 7% (14%) +300 +8 +36 (265) +460 +300 +170 +36 (265) (491) (bps) Peers RETURN

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26 4.0x 6.0x 8.0x 10.0x 12.0x Feb-17 Feb-18 Feb-19 Feb-20 Feb-21 Feb-22 Historical Multiples L5Y L3Y LTM Mean Mean Mean Current RETURN 7.1x 6.9x 6.8x 6.3x Peers 8.0x 7.8x 7.8x 6.7x Δ vs. Peers (0.9x) (0.8x) (0.9x) (0.4x) $0 $5 $10 $15 $20 $25 $30 $35 Feb-17 Feb-18 Feb-19 Feb-20 Feb-21 Feb-22 Historical RETURN Trading and Valuation vs. Peers Source: FactSet and Wall Street research as of February 8, 2022. Note: EBITDA is unburdened for stock-based compensation. Peers consist of American Woodmark, Jeld-Wen, Masonite International, Owens Corning and PGT Innovations. RETURN Valuation vs. Peers (EV / NTM EBITDA) 6.3x 6.7x 7.8x 7.3x Current: $16.58 +4% COPY Offer: $24.50 +43% RETURN Share Price Performance vs. Peers Peer Group Mean RETURN Δ vs. Peers Δ: 0.4x Δ: (0.4x) Historical Returns L5Y L3Y LTM RETURN +4% +104% +31% Peers +43% +56% (10%)

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27 +0.2x +1.3x +0.5x (1.0x) (2.1x) +0.9x (3.4x) +0.1x (48%) (43%) (92%) (42%) 260% 116% (6%) 311% Benchmarking Performance in Recessions vs. Recovery Cycles Source: FactSet as of December 31, 2021. Note: Great Recession reflects Dec. 1, 2007 – July 1, 2009. Post Great Recession reflects Jan. 1, 2010 – Jan. 1, 2020. COVID Recession reflects Feb. 19, 2020 – May 1, 2020. Post COVID Recession reflects May 1, 2020 – December 31, 2021. (1) Book value per share decreased from $7.46 as of December 31, 2019 to $2.76 as of April 4, 2020 due to an increase in accumulated deficit. Accumulated deficit totaled ~$281mm as of December 31, 2019 and ~$824mm as of April 4, 2020. (2) Peers consist of American Woodmark, Jeld-Wen, Masonite, Owens Corning and PGT Innovations. Total Shareholder Return Change in Price / Book Value Recession Cycles Recovery Cycles “Great Recession” “COVID Recession” Post “Great Recession” Post “COVID Recession” RETURN Peer Median(2) Book value decreased by ~60% due to a large increase in accumulated deficit(1)

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28 26% 24% 19% 16% (10%) 5% (38%) (9%) Benchmarking Performance in Recessions vs. Recovery Cycles (Cont.) Revenue CAGR Source: FactSet as of December 31, 2021. Note: Great Recession reflects Dec. 1, 2007 – July 1, 2009. Post Great Recession reflects Jan. 1, 2010 – Jan. 1, 2020. COVID Recession reflects Feb. 19, 2020 – May 1, 2020. Post COVID Recession reflects May 1, 2020 – December 31, 2021. (1) Peers consist of American Woodmark, Jeld-Wen, Masonite, Owens Corning and PGT Innovations. RETURN Peer Median(1) 7% 11% 8% 4% 12% 16% 13% 15% Avg. EBITDA Margin Recession Cycles Recovery Cycles “Great Recession” “COVID Recession” Post “Great Recession” Post “COVID Recession”

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29 – $10.00 $20.00 $30.00 Dec-19 Jun-20 Dec-20 Jun-21 Dec-21 Outlook Target Valuation Operating Metrics 2022E '20A-'22E % Prem. EV / 2022E 2022E EBITDA EBITDA Broker Price Target To Current Base Year EBITDA Revenue EBITDA Margin CAGR 63% 2022E NA $6,118 $768 12.6% 12.5% 51% 2022E 7.7x 6,109 748 12.2% 11.0% 39% 2022E 7.0x 6,119 767 12.5% 12.4% 15% 2022E 7.0x 5,706 731 12.8% 9.7% Median 45% 7.0x $6,113 $758 12.5% 11.7% $27 $25 $23 $19 $24 Current Analyst Perspectives on RETURN RETURN Analyst Sentiment Over Time Buy Hold Buy Hold Sell RETURN Share Price Median Price Target $24.00 $16.58 (1) Source: Wall Street research as of February 8, 2022. (1) Based on RETURN’s share price of $16.58 as of February 8, 2022.

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30 Premia Paid Analysis – Go-Private and All-Cash Transactions Premiums paid in precedent transactions Source: FactSet as of February 8, 2022. Note: Includes complete and pending transactions. Excludes finance, real estate and insurance targets, as well as transactions with premiums greater than 200%. (1) Premium to unaffected share price for go-privates over the last 10 years involving U.S. public companies $1-10bn in transaction value. (2) Premium to unaffected share price for all-cash transactions over the last 10 years involving U.S. public companies $1-10bn in transaction value. (3) Based on RETURN’s share price of $16.58 as of February 8, 2022. (4) Represents implied share prices based on RETURN’s 52-week high share price of $19.50 and related 25th and 75th percentile premiums for precedent transactions. (5) Represents implied share prices based on RETURN’s 30-day VWAP of $15.90 and related 25th and 75th percentile premiums for precedent transactions. Go-Private Premiums(1) All-Cash Premiums(2) Implied RETURN Share Price(3) $19.35 $21.04 $21.71 $23.57 $26.33 Implied RETURN Share Price(3) $19.71 $21.61 $22.98 $25.07 $28.70 16.7% 26.9% 30.9% 42.2% 58.8% 25th Percentile Median Mean 75th Percentile 90th Percentile 18.9% 30.3% 38.6% 51.2% 73.1% 25th Percentile Median Mean 75th Percentile 90th Percentile $17.96 $21.83 $17.93 $21.28 $23.59 $23.19 $19.36 $18.93 52-Week High(4) 30-Day VWAP(5)

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31 Source: FactSet as of February 8, 2022. Note: Dollars in billions. Includes complete and pending transactions for U.S. public companies equal to or greater than $1bn in enterprise value. Excludes energy, finance and insurance targets. (1) Represents all-cash transactions involving an acquiror with a majority ownership position acquiring an additional 2%-50% of the target’s shares resulting in 100% ownership. (2) RETURN premia based on COPY offer of $24.50 per share, share price of $16.58 as of February 7, 2022, 30-day VWAP of $15.90 and 52-week high of $19.50. Squeeze-Out Transactions(1) Enterprise % Owned Premium to Share Price Ann. Date Acquiror Target Value ($bn) Pre-Txn 1-Day Prior 30-Day VWAP 52-Wk High Nov-19 Kyocera AVX $3.0 72% 45% 40% 16% Jun-18 Roche Foundation Medicine 5.1 57% 29% 47% 28% Nov-12 Danfoss Sauer-Danfoss 2.6 76% 49% 48% 5% Jul-08 Roche Genentech 97.8 56% 16% 24% 16% Feb-05 Novartis Eon Labs 2.6 68% 11% 17% (30%) Jan-05 Danisco Genencor International 1.2 84% 24% 19% -- Jan-05 News Corp. Fox Entertainment Group 19.0 59% 11% 12% 8% Feb-02 Sabre Holdings Travelocity.com 1.0 70% 20% -- -- Feb-02 Limited Brands Intimate Brands 9.8 84% 10% -- -- Nov-01 UtiliCorp United Aquila 2.0 80% 15% -- -- Median 71% 18% -- -- RETURN(2) 49% 48% 54% 26% Premia Paid Analysis – Squeeze-Out Transactions

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32 Source: FactSet as of February 8, 2022. Note: Dollars in billions. Includes complete and pending transactions for U.S. public companies equal to or greater than $1bn in enterprise value. Excludes energy, finance and insurance targets. (1) Represents all-cash transactions involving an acquiror with an ownership position of 20%-50% acquiring the remainder of the target’s shares. (2) RETURN premia based on COPY offer of $24.50 per share, share price of $16.58 as of February 7, 2022, 30-day VWAP of $15.90 and 52-week high of $19.50. Non-Controlling Ownership Transactions(1) Premia Paid Analysis – Acquisitions with Existing Buyer Stake Enterprise % Owned Premium to Share Price Ann. Date Acquiror Target Value ($bn) Pre-Txn 1-Day Prior 30-Day VWAP 52-Wk High Oct-19 Marubeni; Mizuho Leasing Aircastle $7.3 29% 34% 40% 34% Nov-18 Nascar International Speedway 1.9 39% 14% 22% (5%) Jan-16 Brookfield Asset Management Rouse Properties 2.7 33% 35% 25% (9%) Jun-13 Hunt Centerline 1.1 41% 18% 18% (4%) Jun-13 David Murdock Dole Food 2.8 40% 32% 32% (6%) Jun-11 MacAndrews & Forbes M&F Worldwide 2.5 43% 47% 16% (16%) Sep-09 Harbinger Capital Partners SkyTerra 1.5 49% 47% 54% 10% Dec-06 Colony Capital / Fertitta Family Station Casinos 8.6 27% 30% -- 12% Nov-06 SAINT Swift Transportation 2.6 27% 34% 28% -- Jun-06 Brookfield Properties Trizec Properties 6.5 38% 18% 22% 10% Apr-06 Novartis Chiron 10.0 42% 32% 17% 5% Sep-02 David Murdock Dole Food 2.4 23% 37% -- (1%) Median 39% 33% 23% (1%) RETURN(2) 49% 48% 54% 26%

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33 Debt / Unlevered Beta Equity 1.05 1.10 1.15 1.20 1.25 10% 11.1% 11.5% 11.9% 12.2% 12.6% 20% 11.0% 11.3% 11.7% 12.0% 12.4% 30% 10.8% 11.2% 11.5% 11.9% 12.2% 40% 10.7% 11.1% 11.4% 11.7% 12.1% 50% 10.6% 10.9% 11.3% 11.6% 12.0% 60% 10.5% 10.9% 11.2% 11.5% 11.9% Weighted Average Cost of Capital Analysis – RETURN Selected Public Companies Illustrative WACC IllustrativeWACC Sensitivity Source: Public company filings, Wall Street research, Bloomberg, S&P Capital IQ and FactSet as of February 8, 2022. Note: Dollars in millions. Companies sorted by market cap. (1) Represents adjusted two-year weekly beta relative to S&P 500. (2) Unlevered Beta equals (Levered Beta / (1 + (1 - Tax Rate) * (Debt / Equity)). Tax rate used is 25%. (3) Reflects median for Peer Observed. (4) Levered Beta equals (Unlevered Beta * (1 + (1 - Tax Rate) * (Debt / Equity)). Tax rate used is 25%. (5) Reflects yield on 20-year U.S. Treasury. (6) Reflects U.S. long-horizon equity risk premium per Duff & Phelps 2022 valuation handbook. (7) Reflects size premium for companies with market capitalizations between ~$2,170mm and ~$3,277mm per Duff & Phelps 2022 valuation handbook. (8) Peer Observed pre-tax cost of debt is based on the BB U.S. high-yield index effective yield per St. Louis Fed. RETURN Observed pre-tax cost of debt is based on yield to worst of RETURN’s senior notes due 2029. (9) WACC equals ((Debt / Capitalization * After-Tax Cost of Debt) + (Equity / Capitalization * Cost of Equity)). Market Debt Debt / Beta Company Cap ($mm) ($mm) Equity Levered(1) Unlevered(2) Owens Corning $9,278 $3,095 33% 1.44 1.15 Masonite 2,371 878 37% 1.58 1.23 JELD-WEN 2,187 1,822 83% 1.84 1.13 PGT Innovations 1,107 635 57% 1.51 1.06 American Woodmark 937 506 54% 1.68 1.20 75th Percentile 57% 1.68 1.20 Mean 53% 1.61 1.15 Median 54% 1.58 1.15 25th Percentile 37% 1.51 1.13 RETURN $2,181 $3,081 141% 2.00 0.97 Peer RETURN Observed Observed Unlevered Beta(3) 1.15 0.97 Debt / Equity(3) 54% 141% Levered Beta(4) 1.613 2.004 Risk-Free Rate(5) 2.3% 2.3% Market Risk Premium(6) 7.5% 7.5% Market Size Premium(7) 1.2% 1.2% Cost of Equity 15.5% 18.4% Pre-Tax Cost Of Debt(8) 4.39% 5.47% Tax Rate 25.0% 25.0% After-Tax Cost Of Debt 3.3% 4.1% % Equity 64.9% 41.5% % Debt 35.1% 58.5% Estimated WACC(9) 11.2% 10.0% For Reference Only

Exhibit (c)(6)

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February 11, 2022 Presentation to the Special Committee Project RETURN

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1 Disclaimer This presentation has been prepared by Centerview Partners LLC (“Centerview”) for use solely by the management and Special Committee of RETURN, Inc.(“RETURN”) in connection with its evaluation of a proposed transaction involving RETURN and for no other purpose. The information contained herein is based upon information supplied by or on behalf of RETURN and publicly available information, and portions of the information contained herein may be based upon statements, estimates and forecasts provided by RETURN. Centerview has relied upon the accuracy and completeness of the foregoing information, and has not assumed any responsibility for any independent verification of such information or for any independent evaluation or appraisal of any of the assets or liabilities (contingent or otherwise) of RETURN or any other entity, or concerning the solvency or fair value of RETURN or any other entity. With respect to financial forecasts, Centerview has assumed that such forecasts have been reasonably prepared on bases reflecting the best currently available estimates and judgments of the management of RETURN as to the future financial performance of RETURN, and at your direction Centerview has relied upon such forecasts, as provided by RETURN’s management, with respect to RETURN. Centerview assumes no responsibility for and expresses no view as to such forecasts or the assumptions on which they are based. The information set forth herein is based upon economic, monetary, market and other conditions as in effect on, and the information made available to us as of, the date hereof, unless indicated otherwise and Centerview assumes no obligation to update or otherwise revise these materials. The financial analysis in this presentation is complex and is not necessarily susceptible to a partial analysis or summary description. In performing this financial analysis, Centerview has considered the results of its analysis as a whole and did not necessarily attribute a particular weight to any particular portion of the analysis considered. Furthermore, selecting any portion of Centerview’s analysis, without considering the analysis as a whole, would create an incomplete view of the processunderlying its financial analysis. Centerview may have deemed various assumptions more or less probable than other assumptions, so the reference ranges resulting from any particular portion of theanalysis described above should not be taken to be Centerview’s view of the actual value of RETURN. These materials and the information contained herein are confidential, were not prepared with a view toward public disclosure, and may not be disclosed publicly or made available to third parties without the prior written consent of Centerview. These materials and any other advice, written or oral, rendered by Centervieware intended solely for the benefit and use of the management and Special Committee of RETURN (in its capacity as such) in its consideration of the proposed transaction, and are not for the benefit of, and do not convey any rights or remedies for any holder of securities of RETURN or any other person. Centerview will not be responsible for and has not provided any tax, accounting, actuarial, legal or other specialist advice. These materials are not intended to provide the sole basis for evaluating the proposed transaction, and this presentation does not represent a fairness opinion, recommendation, valuation or opinion of any kind, and is necessarily incomplete and should be viewed solely in conjunction with the oral presentation provided byCenterview.

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2 Review of Key Dates for the Special Committee . Oct. 13, 2021: Kick-off call to review process objectives and framework . Oct. 25, 2021: Strategic review of RETURN’s current market positioning, Management standalone plan and strategic alternatives; discussion of preliminary financial analysis of Management standalone plan . Nov. 2, 2021: Financial update call conducted by RETURN Management / Centerview with COPY . Nov. 12, 2021:COPY communicated to Centerview that they are prepared to consider exploring a transaction at an indicative valuation of $22.00 per share (29% implied spot premium(1)) and reiterated that they are not a seller; COPY also requested to engage with a limited number of financing sources and complete focused due diligence – Special Committee subsequently authorized COPY to discuss financing with Goldman and RBC – Special Committee also authorized Centerview to communicate to COPY that a non-binding indication of interest would be needed to assess further engagement . Nov. 22, 2021: COPY communicated to Centerview that they are prepared to consider a transaction at an indicative valuation of $23.00 per share; COPY confirmed their leverage assumptions with Goldman Sachs and RBC of 6x+ through HoldCo note – Special Committee subsequently authorized Centerview to communicate to COPY that the Special Committee would be unwilling to transact at $23.00 per share – Special Committee also instructed Management to create a single operating case to serve as the basis for analyses as the process progressed . Dec. 2, 2021: COPY requested business unit calls with the following attendees: Art Steinhafel and Jim Keppler (U.S. Windows); John Buckley and Jim Keppler (U.S. Siding); Philip Langlois (Canada); Matt Ackley and Jim Keppler (Commercial) . Dec. 3, 2021: RETURN’s CFO presented a Management Case to the Special Committee and subsequently shared the projections with Centerview Project RETURN has consisted of multiple discussions between COPY and Centerview, on behalf of the Special Committee – COPY’s view on value has been informed further through management calls and due diligence requests (1) Based on RETURN’s closing share price of $17.04 as of November 12, 2021.

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3 Review of Key Dates for the Special Committee (Cont.) . Dec. 16, 2021: RETURN Management and COPY completed the requested business unit reviews; focus centered on the Management Plan, including underlying drivers, market context and operating synergies – COPY then requested follow-up materials as part of their ongoing review of value – Special Committee approved distribution of the requested follow-up materials on December 20, 2021 . Dec. 22, 2021: COPY communicated to Centerview that they are prepared to consider a transaction at an indicative valuation of $23.50 per share – COPY expressed concerns around specific assumptions in the projections shared by Management • Volume for Windows segment and materials pricing-cost spread for Commercial segment . Jan. 3, 2022: RETURN’s CFO provided the Special Committee with an update to the Management Plan . Jan. 19, 2022: COPY and COPY’s advisors were provided access to a virtual data room – Management and Centerview have since completed multiple requests related to COPY’s business, financial and operational due diligence (please refer to page 20 for a summary) . Feb. 3, 2022: RETURN’s CFO provided Centerview with an update to the Management Plan, which Centerview subsequently shared with COPY; update includes the UCC acquisition and actual balance sheet figures as of December 31, 2021 . Feb. 7, 2022: COPY communicated to Centerview that they are prepared to consider a transaction at an indicative valuation of $24.50 per share . Feb. 7, 2022: Unusually high options trading reported in RETURN stock . Feb. 10, 2022: Bloomberg reports potential COPY offer . Feb. 10, 2022: Following communication with Centerview, COPY communicated to Centerview that they are prepared to consider a transaction at an indicative valuation of $24.65 per share – Implied premia and multiples herein reflect unaffected trading levels as of February 4, 2022 Project RETURN has consisted of multiple discussions between COPY and Centerview, on behalf of the Special Committee – COPY’s view on value has been informed further through management calls and due diligence requests

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4 Table of Contents Section 1 ...................................................................................... Recap of COPY’s 2/10/22 Indication Section 2 ......................................................... Centerview’s Updated Preliminary Financial Analysis Appendix ........................................................................................................... Supplementary Materials

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Recap of COPY’s 2/10/22 Indication 1

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6 Updated Value Communicated by COPY on February 10, 2022 Price per Share Implied Premia . $24.65 per share, which implies: – An increase of 0.6% from an indication of $24.50 on February 7, 2022 – An increase of 12.0% from an initially considered indication of $22.00 on Nov. 12, 2021 (29% implied spot premium)(1) Unaffected as of February 4, 2022: . 74.9% to unaffected share price of $14.09 . 54.6% to unaffected 30-day VWAP of $15.94 . 58.1% to unaffected 90-day VWAP of $15.59 . 77.4% to unaffected 1-year VWAP of $13.89 . 26.4% to unaffected 52-week high of $19.50(3) Summary Financials Source: Management projections provided on February 3, 2022. Company filings and FactSet as of February 4, 2022. Note: Dollars in millions, except per share amounts. (1) Based on RETURN’s closing share price of $17.04 as of November 12, 2021. (2) RETURN balance sheet and share count as of December 31, 2021. (3) Reflects closing share price trading levels. Overview Unaffected COPY (as of 2/4/22) Indication Implied Valuation Share Price $14.09 $24.65 % Premium to Unaffected Price – 74.9% Diluted Shares Outstanding(2) 131.2 132.2 Equity Value $1,849 $3,258 Less: Cash(2) (394) (394) Plus: Debt(2) 3,081 3,081 Enterprise Value $4,535 $5,944 Implied Multiples Multiple: Metric: 2021A $721 6.3x 8.3x 2022E 750 6.1x 7.9x EV / EBITDA (February 3 Mgmt. Case) Consideration and Financing . 100% cash consideration . Financing discussions with Goldman Sachs, RBC, Deutsche Bank and UBS have advanced toward a formal financing commitment . Indebtedness would be incurred by a Holdco above the RETURN credit group following the merger – RETURN’s outstanding debt would stay in place

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7 $0 $5 $10 $15 $20 $25 Feb-12 Feb-13 Feb-14 Feb-15 Feb-16 Feb-17 Feb-18 Feb-19 Feb-20 Feb-21 Feb-22 RETURN’s Historical Share Price Performance Source: FactSet and Wall Street research as of February 10, 2022. Note: Unaffected price reflects share price as of February 4, 2022. (1) Reflects closing share price trading levels. $11.89 Current: $18.66 +57% Jul. 17, 2018: NCI and Ply Gem announced merger Nov. 16, 2018: NCI and Ply Gem merger closed RETURN’s Share Price Performance (Last 10 Years) Implied Premia (Unaffected as of Feb. 4, 2022) COPY Indication Share Price $24.65 vs. Current ($18.66) 32.1% vs. Unaffected ($14.09) 74.9% vs. 30-Day VWAP ($15.94) 54.6% vs. 90-Day VWAP ($15.59) 58.1% vs. 1-Year VWAP ($13.89) 77.4% vs. 52-Week High ($19.50) 26.4% vs. 52-Week Low ($11.10) 122.1% vs. 10-Year High ($23.00) 7.2% (1) (1) COPY Indication: $24.65 Feb. 19, 2020: Pre-COVID trading Feb. 10, 2022: Bloomberg reports potential COPY offer Feb. 7, 2022: Unusually high options trading reported in RETURN stock Unaffected: $14.09 +19% (1)

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8 RETURN Unaffected Shareholder Basis Analysis Source: Management, Public filings, CapitalIQ, Wall Street research and FactSet as of February 4, 2022. Note: Dollars in millions. Cost basis calculated using FIFO method. List of shareholders excludes COPY, Golden Gate Capital and RETURN Executive Chairman James Metcalf. (1) Based on RETURN unaffected share price of $14.09 as of February 4, 2022. (2) Based on 127.0mm basic shares outstanding as of December 31, 2021 per Management. (3) Estimated cost basis of 23mm of retained shares from COPY’s 2009 investment in NCI is based on NCI’s Q3’09 10-Q filing. Estimated cost basis of 39mm of newly issued shares from NCI’s merger with Ply Gem is based on NCI’s share price of $12.16 as of November 16, 2018 – the last closing price before the merger closed. Market Estimated Avg. Shareholder Value ($mm)(1) % of O/S (2) Shares Held Cost Basis American Century Investments $59.0 3.3% 4,184,914 $16.13 BlackRock 54.9 3.1% 3,897,794 14.27 Vanguard 50.3 2.8% 3,566,418 11.41 Barrow, Hanley, Mewhinney & Strauss 39.6 2.2% 2,810,018 16.29 Russell Investments 28.4 1.6% 2,014,700 15.92 Guardian Point Capital 28.2 1.6% 2,000,000 7.85 American Beacon Advisors 27.5 1.5% 1,952,379 16.04 DNB Asset Management 23.7 1.3% 1,683,875 8.45 Dimensional Fund Advisors 20.9 1.2% 1,479,853 13.73 TIAA 20.3 1.1% 1,442,155 9.51 King Street 19.7 1.1% 1,400,000 15.22 Wolf Hill Capital 18.1 1.0% 1,283,639 10.58 State Street Global Advisors 13.9 0.8% 988,796 15.68 RBF Capital 13.6 0.8% 962,997 5.76 Geode Capital Management 13.4 0.7% 948,279 13.39 J. Goldman & Co. 13.0 0.7% 919,882 12.00 Cooper Creek Partners 10.2 0.6% 723,893 15.10 Soviero Asset Management 9.6 0.5% 680,000 16.15 Voss Capital 9.2 0.5% 650,000 14.74 Invesco Capital Management 9.1 0.5% 645,431 16.03 Top 20 Holders (Excl. Insiders) $482.4 27.0% 34,235,023 $13.70 Reference: COPY $875.6 48.9% 62,143,415 $1.28 / $12.16 Top 20 Shareholders (Excluding COPY, Golden Gate Capital and Other Insiders) (3) Note: COPY’s estimated cost basis is based on 23mm of retained shares from their $250mm investment in NCI in 2009 ($1.28) and 39mm of newly issued shares following NCI’s merger with Ply Gem ($12.16)

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9 Source: FactSet as of February 4, 2022. (1) Represents closing share price and 30-day VWAP as of the date COPY communicated value for RETURN shares not owned, except for dates after February 4, 2022. Market data for February 7 and February 10, 2022 represents market data as of February 4, 2022 (the unaffected date). (2) Based on RETURN share price of $14.09 as of February 4, 2022. Summary of COPY’s Indications For RETURN Shares Not Owned Evolution of Value Communicated by COPY Date of Received Indication Nov. 12, 2021 Nov. 22, 2021 Dec. 22, 2021 Feb. 7, 2022 Feb. 10, 2022 Value Communicated (per share) 1-Day Spot Price(1) $17.04 $17.23 $16.14 $14.09 $14.09 30-Day VWAP(1) $14.84 $15.36 $16.22 $15.94 $15.94 % Premium to 1-Day Spot Price (1) 29.1% 33.5% 45.6% 73.9% 74.9% % Premium to 30-Day VWAP (1) 48.3% 49.8% 44.9% 53.7% 54.6% % Premium to Unaffected Price (2) 56.1% 63.2% 66.8% 73.9% 74.9% % Change to Initial Indication -- +4.5% +6.8% +11.4% +12.0% % Change to Previous Indication -- +4.5% +2.2% +4.3% +0.6% RETURN Trading Implied Premium Change in Indication $22.00 $23.00 $23.50 $24.50 $24.65 Communicated after irregular trading activity on Feb. 7, 2022 – below reflects market data as of Feb. 4, 2022

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10 Premia Paid Analysis – Go-Private and All-Cash Transactions Premiums paid in precedent transactions Source: FactSet as of February 4, 2022. Note: Includes complete and pending transactions. Excludes finance, real estate and insurance targets, as well as transactions with premiums greater than 200%. (1) Premium to unaffected share price for go-privates over the last 10 years involving U.S. public companies $1-10bn in transaction value. (2) Premium to unaffected share price for all-cash transactions over the last 10 years involving U.S. public companies $1-10bn in transaction value. (3) Based on RETURN’s unaffected share price of $14.09 as of February 4, 2022. (4) Represents implied share prices based on RETURN’s unaffected 52-week high share price of $19.50 and related 25 th and 75th percentile premiums for precedent transactions. (5) Represents implied share prices based on RETURN’s unaffected 30-day VWAP of $15.94 and related 25th and 75th percentile premiums for precedent transactions. Go-Private Premiums(1) All-Cash Premiums(2) Implied RETURN Unaffected Share Price(3) $16.45 $17.88 $18.45 $20.03 $22.37 Implied RETURN Unaffected Share Price(3) $16.75 $18.37 $19.52 $21.31 $24.39 16.7% 26.9% 30.9% 42.2% 58.8% 25th Percentile Median Mean 75th Percentile 90th Percentile 18.9% 30.3% 38.6% 51.2% 73.1% 25th Percentile Median Mean 75th Percentile 90th Percentile $17.96 $21.83 $18.08 $21.45 $23.59 $23.38 $19.36 $19.09 52-Week High(4) Unaffected 30-Day VWAP(5) Below reflects premium to one-day unaffected spot price Below reflects premium to one-day unaffected spot price Reflects 25th and 75th percentile premia to 52-week high Reflects 25th and 75th percentile premia to 52-week high Reflects 25th and 75th percentile premia to unaffected 30-day VWAP Reflects 25th and 75th percentile premia to unaffected 30-day VWAP

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11 Source: FactSet as of February 4, 2022. Note: Dollars in billions. Includes complete and pending transactions for U.S. public companies equal to or greater than $1bn in enterprise value. Excludes energy, finance and insurance targets. (1) Represents all-cash transactions involving an acquiror with an ownership position of 20%-50% acquiring the remainder of the target’s shares. (2) Represents premium to unaffected share price. (3) RETURN premia based on COPY indication of $24.65 per share, unaffected share price of $14.09 as of February 4, 2022, unaffected 30-day VWAP of $15.94 and 52-week high of $19.50. Non-Controlling Ownership Transactions(1) Premia Paid Analysis – Acquisitions with Existing Buyer Stake Enterprise % Owned Premium to Share Price Ann. Date Acquiror Target Value ($bn) Pre-Txn 1-Day Prior(2) 30-Day VWAP 52-Wk High Nov-19 Marubeni; Mizuho Leasing Aircastle $7.3 29% 34% 40% 34% May-19 Nascar International Speedway 1.9 39% 14% 22% (5%) Feb-16 Brookfield Asset Management Rouse Properties 2.7 33% 35% 25% (9%) Aug-13 David Murdock Dole Food 2.8 40% 32% 32% (6%) Jun-13 Hunt Centerline 1.1 41% 18% 18% (4%) Sep-11 MacAndrews & Forbes M&F Worldwide 2.5 43% 47% 16% (16%) Sep-09 Harbinger Capital Partners SkyTerra 1.5 49% 47% 54% 10% Feb-07 Colony Capital / Fertitta Family Station Casinos 8.6 27% 30% -- 12% Jan-07 SAINT Swift Transportation 2.6 27% 31% 26% -- Jun-06 Brookfield Properties / Blackstone Trizec Properties 6.5 38% 18% 22% 10% Apr-06 Novartis Chiron 10.0 42% 32% 17% 5% Dec-02 David Murdock Dole Food 2.4 23% 37% -- (1%) Median 39% 32% 23% (1%) RETURN(3) 49% 75% 55% 26%

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12 Source: FactSet as of February 4, 2022. Note: Dollars in billions. Includes complete and pending transactions for U.S. public companies equal to or greater than $1bn in enterprise value. Excludes energy, finance and insurance targets. (1) Represents all-cash transactions involving an acquirorwith an ownership position of 20%-50% acquiring the remainder of the target’s shares. (2) Represents number of bids increasing in value from initial indication. (3) RETURN premia based on COPY indication of $24.65 per share, initial COPY indication of $22.00 per share, RETURN share price of $14.09 as of February 4, 2022 and RETURN share price of $17.04 as of November 12, 2021, the date of COPY’s initial indication. Non-Controlling Ownership Transactions(1) Bid Dynamics – Acquisitions with Existing Buyer Stake Bid Evolution Initial % ∆ Initial Final Ann. Target Enterprise 1-Day to Final Premium to # of Date Acquiror Target Description Value ($bn) Premium Bid Unaffected Bumps Nov-19 Marubeni; Mizuho Leasing Aircastle Commercial aircraft sales / leasing $7.3 21% 16% 34% 2 May-19 Nascar International Speedway Motorsport entertainment facilities 1.9 6% 7% 14% 5 Feb-16 Brookfield Asset Management Rouse Properties Regional mall / retail owner 2.7 26% 7% 35% 2 Aug-13 David Murdock Dole Food Agricultural producer / marketer 2.8 22% 13% 32% 4 Jun-13 Hunt Centerline Real estate asset management 1.1 21% --% 18% -- Sep-11 MacAndrews & Forbes M&F Worldwide Diversified holding company 2.5 42% 4% 47% 1 Sep-09 Harbinger Capital Partners SkyTerra Satellite telecom provider 1.5 21% 25% 47% 2 Feb-07 Colony Capital / Fertitta Family Station Casinos Casino operator 8.6 19% 10% 30% 2 Jan-07 SAINT Swift Transportation Truckload motor shipping carrier 2.6 21% 9% 31% 2 Jun-06 Brookfield Properties / Blackstone Trizec Properties U.S. office REIT 6.5 21% 2% 18% 1 Apr-06 Novartis Chiron Pharmaceuticals 10.0 11% 20% 32% 3 Dec-02 David Murdock Dole Food Agricultural producer / marketer 2.4 20% 14% 37% 1 Median 21% 9% 32% 2 RETURN(3) 29% 12% 75% 4 (2)

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Centerview’s Updated Preliminary Financial Analysis 2

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14 Source: Company filings, press releases, CapIQ, FactSet and Management projections provided on February 3, 2022. Note: Market data as of unaffected date of February 4, 2022. (1) Based on RETURN’s unaffected share price of $14.09 as of February 4, 2022, unaffected 30-day VWAP of $15.94 and unaffected 52-week high of $19.50. . Selected publicly-traded comparable companies in the building products sector . Valuation multiples based on Enterprise Value / CY 2022E EBITDA . Multiples applied to RETURN’s 2022E EBITDA per RETURN February 3 Management Case . Based on RETURN February 3 Management Case . Perpetuity growth rate of 1.75% - 2.50% . Weighted average cost of capital (“WACC”) range of 10.5% - 12.5% . Selected precedent M&A transactions in the building products sector – Includes transactions completed with U.S. targets in the last 5 years (deal size greater than $1bn) . Multiples applied to RETURN’s LTM EBITDA as of December 31, 2021 . RETURN’s closing share price trading levels over the last 52 weeks 52-Week Trading Range Selected Precedent Transactions Analysis Discounted Cash Flow (DCF) Analysis For Reference Only (As of Unaffected Date) . Range of current Wall Street analyst price targets for RETURN Analyst Price Targets Selected Public Company Analysis Premia Paid Analysis . Range of premia paid on selected take-private transactions – Includes transactions completed with U.S. targets in the last 10 years (deal size of $1bn - $10bn) . Premia applied to RETURN’s unaffected share price, 30-day VWAP and 52-week high(1) Overview of Centerview’s Preliminary Financial Analysis

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15 $11.50 $26.00 $20.75 $11.10 $19.00 $16.50 $18.00 $18.00 $19.50 $39.50 $32.50 $19.50 $27.00 $20.00 $21.50 $21.75 – $10.00 $20.00 $30.00 $40.00 Source: Management projections provided on February 3, 2022, FactSet as of February 10, 2022 and Wall Street research. Note: Dollars in millions, except per share figures. Implied share prices rounded to the nearest $0.25. Unaffected market data as of February 4, 2022. RETURN financials reflect shares outstanding and balance sheet figures as of December 31, 2021. (1) Implied share price calculated as implied enterprise value less $2.7bn of net debt, consisting of $3.1bn of debt and $0.4bn of cash, divided by fully diluted shares outstanding. Fully diluted shares outstanding based on 127.0mm basic shares, 3.0mm stock options with a weighted average exer cise price of $10.28, 1.9mm RSUs and 1.4mm PSUs. EBITDA is unburdened for stock-based compensation. 52-Week Trading Range Selected Public Comparables Selected Precedent Transactions Implied Share Price(1) LTM (as of 12/31/21) LTM EBITDA: $721mm Multiple: 8.5x - 11.0x February 3 Mgmt. Case WACC: 10.5% - 12.5% PGR: 1.75% - 2.50% Closing Price Low - High February 3 Mgmt. Case 2022E EBITDA: $750mm Multiple: 5.6x - 7.0x Unaffected Price as of 2/4/22: $14.09 Analyst Price Targets Price Target Low - High For Reference Only (As of Unaffected Date) DCF Analysis Premia Paid Analysis Implied Price Unaffected Share Price: $14.09 Premium: 16.7% - 42.2% COPY Indication on 2/10/22: $24.65 Preliminary Financial Analysis Implied Price Unaffected 30-Day VWAP: $15.94 Premium: 12.8% - 33.8% Implied Price 52-Week High: $19.50 Premium: (7.9%) - 12.0%

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16 Selected Public Trading Comparables Source: Company filings and FactSet as of February 10, 2022. Note: Dollars in billions. EBITDA is unburdened for stock-based compensation. All figures are based on RETURN fiscal year ending December 31. Companies sorted by equity value. RETURN management case revenue and EBITDA growth based on 2021 actuals. RETURN net leverage based on LTM EBITDA and balance sheet figures as of December 31, 2021. (1) Reflects unaffected market data as of February 4, 2022. Revenue EBITDA EBITDA Net Equity Enterprise EV / EBITDA Growth Growth Margin Leverage Company Value Value 2022E '21E - '22E '21E - '22E 2022E LTM Owens Corning $9.2 $11.3 5.7x 5% 3% 23% 1.1x Masonite 2.3 2.8 6.0x 7% 12% 17% 1.1x JELD-WEN 2.2 3.6 6.6x 7% 14% 11% 2.9x PGT Innovations 1.1 1.7 8.1x 19% 27% 15% 3.4x American Woodmark 0.9 1.4 7.1x 7% 11% 10% 3.0x Median $2.2 $2.8 6.6x 7% 12% 15% 2.9x RETURN (Feb. 3 Mgmt. Case)(1) $1.8 $4.5 6.1x 12% 4% 12% 3.7x

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17 Target EV / LTM Public Co. Target's LTM Financials Memo: Implied Premia Date Acquiror Company EV Sales EBITDA Target Sales EBITDA Margin 1-Day Prior 30-Day VWAP 7/19/21 Carlisle Companies Henry $1,575 3.1x 13.2x -- $511 $119 23.3% -- -- 6/20/21 Westlake Chemical Boral's N.A. Building Products 2,150 2.0x ~10.4x -- 1,100 ~206 ~19.0% -- -- 6/7/21 Nucor Cornerstone's Insulated Metal Panels 1,000 2.6x 13.3x -- 389 75 19.3% -- -- 11/15/19 ACPI Masco Cabinetry 1,000 1.1x 9.8x -- 950 102 10.7% -- -- 11/12/19 Saint-Gobain Continental Building Products 1,434 2.8x 10.4x x 514 138 26.8% +16% +27% 7/17/18 NCI Ply Gem 3,700 1.4x 10.9x -- 2,649 341 12.9% -- -- 1/31/18 CD&R Ply Gem 2,400 1.2x 9.7x x 2,056 246 12.0% +20% +18% 12/1/17 American Woodmark RSI Home Products 1,075 1.9x 8.7x -- 560 123 22.0% -- -- Median 1.9x 10.4x 19% Mean 2.0x 10.8x 18% Source: Company press releases, news articles, Wall Street research, CapIQ and FactSet. Note: EBITDA is unburdened for stock-based compensation. Transaction multiples represent approximate figures due to lack of disclosures. Multiples are on LTM basis unless otherwise noted. (1) Reflects midpoint of Westlake’s disclosure on acquisition call. Stock-based compensation reflects segment’s sales contribution. (2) Represents FY’18A figures. Stock-based compensation reflects segment’s sales contribution. (3) Represents FY’18E figures per merger proxy. Assumes stock-based compensation reflects FY’17A stock-based compensation as a percentage of FY’17A sales. Selected acquisitions of U.S. building products companies over the last 5 years with a deal size greater than $1bn (2) (1) (2) (2) (2) Selected Precedent Transactions (1) (3) (3) (3) (3)

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18 Discounted Cash Flow Analysis – February 3 Management Case Source: Management projections provided on February 3, 2022. Note: Dollars in millions, except per share items. Implied share prices rounded to nearest $0.25. (1) Adjusted EBITDA includes stock-based compensation as a cash expense. (2) Terminal year assumes D&A equal to CapEx going forward. (3) Implied terminal multiples based on adjusted EBITDA unburdened for stock-based compensation. Unlevered Free Cash Flow Build Terminal ($ in millions) 2022E 2023E 2024E 2025E 2026E Year Revenue $6,428 $6,766 $6,778 $6,857 $7,175 $7,175 % Growth 12% 5% 0% 1% 5% Adj. EBITDA (less: SBC)(1) $730 $833 $859 $893 $972 $972 % Margin 11% 12% 13% 13% 14% 14% (Less): D&A(2) (276) (252) (227) (203) (179) (179) EBIT $453 $581 $632 $690 $793 $793 (Less): Taxes (136) (174) (190) (207) (238) (238) NOPAT $317 $407 $442 $483 $555 $555 Plus: D&A(2) 276 252 227 203 179 179 Plus / (Less): Change in NWC 199 9 65 54 28 21 (Less): CapEx (161) (169) (169) (171) (179) (179) Plus: Cash Settlement (tax adj.) 53 -- -- -- -- -- Unlevered Free Cash Flow $684 $499 $565 $569 $582 $575 Implied Share Price Implied Terminal Multiple(3) Discount Perpetuity Growth Rate Rate 1.75% 2.13% 2.50% 10.5% $29.25 $30.75 $32.50 11.5% 24.50 25.75 27.00 12.5% 20.75 21.50 22.75 Discount Perpetuity Growth Rate Rate 1.75% 2.13% 2.50% 10.5% 6.7x 7.1x 7.4x 11.5% 6.1x 6.3x 6.6x 12.5% 5.5x 5.7x 5.9x

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Appendix Supplementary Materials

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20 Overview of Completed Due Diligence . Several calls were conducted with RETURN’s leadership team to gain further insight into the Company, current business trajectory and updated financial outlook, including: – January 24, 2022: Financial overview discussion with RETURN’s CFO and select Finance team members – January 28, 2022: Corporate and Residential segment discussion with RETURN’s CEO, CFO and several members of the Executive team – February 2, 2022: Siding segment discussion with RETURN’s CEO, CFO and business unit leaders – February 3, 2022: Commercial segment discussion with RETURN’s CEO, CFO and business unit leaders Business & Commercial . Access provided to COPY and PwC for requested files and related discussions, including EBITDA adjustments, historical trends in financial statements, capital expenditures, and commitments & contingencies – Review of Grant Thornton’s audit workpapers for 2019 and 2020 Quality of Earnings . Manufacturing site visits were held during the week of January 24 and January 31, consisting of plant overviews and tours in Marion, WA, Auburn, WA, Sacramento, CA and North Brunswick, NJ . The North Brunswick, NJ visit was followed by a discussion session focused on several topics, including: – Procurement / supply chain, logistics, distribution and manufacturing – Individual plant review and discussion of upside opportunities . On February 7, 2022, RETURN’s CEO and CFO led a discussion on the Cornerstone Production System Operational Financing . Data room access was granted to financing partners Deutsche Bank, Goldman Sachs, RBC and UBS . Access was limited to information required for financing support, which included historical and near-term projected financial information and working capital, capital expenditure and commercial spread detail

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21 Memo: NTM EBITDA $750 $853 $879 Net Debt 2,686 2,148 1,759 Dil. Shares 131.2 131.2 131.2 NTM EV / EBITDA Multiple RETURN Current (6.1x) 3-Yr RETURN Average (6.9x) 3-Yr Peer Average (7.8x) Illustr. Cost Undiscounted Future Share Price (2022E) of Equity $22.95 $28.65 $34.15 14.5% $20.05 $25.00 $29.85 16.5% 19.70 24.60 29.30 18.5% 19.35 24.20 28.80 $34.15 $38.65 $14.09 $28.65 $32.95 $22.95 $27.15 $10 $20 $30 $40 Current 2022 2023 Illustrative Future Share Price Present Value of Illustrative Future Share Price(4) Source: FactSet as of February 4, 2022 and Management projections provided on February 3, 2022. Note: Diluted shares in millions. Future share prices discounted to December 31, 2021. Share prices rounded to nearest $0.05. (1) Reflects management 2022E EBITDA projection. (2) NTM multiple based on RETURN 3-year average. (3) NTM multiple based on peer 3-year average. Peers consist of American Woodmark, Jeld-Wen, Masonite International, Owens Corning and PGT Innovations. (4) Illustrative future share price discounted at 18.5% based on RETURN’s cost of equity per RETURN observed figures. Present Value of YE 2022 Share Price Sensitivity February 3 Mgmt. Case at Unaffected 6.1x NTM Multiple(1) February 3 Mgmt. Case at 3-Year Avg. 6.9x NTM Multiple(2) Future Share Price Breakeven Analysis – February 3 Management Case Analysis represents illustrative future share price assuming a range of EV / NTM EBITDA multiples applied to RETURN February 3 Management Case projections (1) February 3 Mgmt. Case at Peer 3-Year Avg. 7.8x NTM Multiple(3) $19.35 $19.35 $14.09 $24.20 $23.45 $28.80 $27.50 $10 $20 $30 $40 Current 2022 2023

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22 $6,235 $6,601 $6,947 $7,318 $7,767 $6,235 $6,562 $6,572 $6,660 $6,972 $5,458 $6,185 $6,510 $6,518 $6,609 $6,920 $5,746 $6,428 $6,766 $6,778 $6,857 $7,175 $5,000 $5,500 $6,000 $6,500 $7,000 $7,500 $8,000 2021E 2022E 2023E 2024E 2025E 2026E $775 $880 $981 $1,090 $1,216 $775 $872 $898 $940 $1,027 $675 $725 $820 $844 $889 $975 $721 $750 $853 $879 $913 $992 $600 $700 $800 $900 $1,000 $1,100 $1,200 $1,300 2021E 2022E 2023E 2024E 2025E 2026E $427 $548 $585 $638 $705 $427 $549 $587 $590 $612 $251 $399 $514 $551 $556 $577 $70 $684 $499 $565 $569 $582 $-- $200 $400 $600 $800 $1,000 2021E 2022E 2023E 2024E 2025E 2026E % Growth % Margin Mgmt. Case 2021E 2022E 2023E 2024E 2025E 2026E November 3 22% 14% 6% 5% 5% 6% December 3 22% 14% 5% 0% 1% 5% January 3 22% 13% 5% 0% 1% 5% February 3 23% 12% 5% 0% 1% 5% % Margin % Margin Mgmt. Case 2021E 2022E 2023E 2024E 2025E 2026E November 3 12% 12% 13% 14% 15% 16% December 3 12% 12% 13% 14% 14% 15% January 3 12% 12% 13% 13% 13% 14% February 3 13% 12% 13% 13% 13% 14% % Margin Mgmt. Case 2021E 2022E 2023E 2024E 2025E 2026E November 3 5% 7% 8% 8% 9% 9% December 3 5% 7% 8% 9% 9% 9% January 3 5% 6% 8% 8% 8% 8% February 3 1% 11% 7% 8% 8% 8% Overview of RETURN Management Projections Net Sales Adj. EBITDA Unlevered Free Cash Flow(1)(2) Source: Management projections provided on November 3, 2021, December 3, 2021, January 3, 2022 and February 3, 2022. Note: Dollars in millions. Represents actuals for February 3 projections. (1) Includes stock-based compensation as an expense. (2) Includes a $75mm payment from a settlement agreement filed on August 25, 2021 between parties to a class action complaint filed on November 14, 2018. The settlement remains subject to court approval. RETURN’s counsel believes that the likelihood of approval of the settlement is over 95%. (3) 2021 figures include UCC. January 3 February 3(3) December 3 As of: November 3 (Base Case – 2022 Trends Continue)

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23 Fiscal Year Ending December 31, 2021A 2022E 2023E 2024E 2025E 2026E Net Sales $5,746 $6,428 $6,766 $6,778 $6,857 $7,175 % Growth 23% 12% 5% 0% 1% 5% Gross Profit $1,238 $1,330 $1,490 $1,558 $1,652 $1,805 % Margin 22% 21% 22% 23% 24% 25% Operating Income $332 $451 $579 $630 $688 $791 % Margin 6% 7% 9% 9% 10% 11% Net Income $52 $262 $319 $383 $440 $528 % Margin 1% 4% 5% 6% 6% 7% Diluted Earnings per Share $0.41 $2.06 $2.52 $3.02 $3.47 $4.16 Adjusted EBITDA $721 $750 $853 $879 $913 $992 % Margin 13% 12% 13% 13% 13% 14% Unlevered Free Cash Flow(2) $70 $684 $499 $565 $569 $582 % Margin 1% 11% 7% 8% 8% 8% Source: Management projections provided on February 3, 2022. Note: Dollars in millions, except per share figures. EBITDA is unburdened for stock-based compensation. (1) Excludes $831mm gain on sale of IMP and DBCI business units. (2) Includes stock-based compensation as an expense. (3) Includes a $75mm payment from a settlement agreement filed on August 25, 2021 between parties to a class action complaint filed on November 14, 2018. The settlement remains subject to court approval. RETURN’s counsel believes that the likelihood of approval of the settlement is over 95%. (3) RETURN February 3 Management Case Summary (1) (1) (1)

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24 Source: Management projections provided on February 3, 2022. Note: Dollars in millions. EBITDA is unburdened for stock based compensation. RETURN February 3 Management Case Segment Detail Fiscal Year Ending December 31, CAGR 2021A 2022E 2023E 2024E 2025E 2026E '21A-'23E '21A-'26E Windows Segment $2,454 $2,895 $3,027 $2,959 $3,076 $3,221 11% 6% % Growth 17% 18% 5% (2%) 4% 5% Commercial Segment 1,927 2,132 2,242 2,339 2,211 2,267 8% 3% % Growth 34% 11% 5% 4% (5%) 2% Siding Segment 1,364 1,651 1,747 1,731 1,819 1,937 13% 7% % Growth 18% 21% 6% (1%) 5% 6% Corporate Risk Adjustment (0) (250) (250) (250) (250) (250) Total Net Sales $5,746 $6,428 $6,766 $6,778 $6,857 $7,175 9% 5% % Growth 23% 12% 5% 0% 1% 5% Windows Segment $439 $587 $656 $678 $747 $825 22% 13% % Margin 18% 20% 22% 23% 24% 26% Commercial Segment 520 460 516 559 552 587 (0%) 2% % Margin 27% 22% 23% 24% 25% 26% Siding Segment 370 425 463 470 506 550 12% 8% % Margin 27% 26% 26% 27% 28% 28% Corporate Risk Adjustment (91) (142) (145) (149) (153) (157) Total Gross Profit $1,238 $1,330 $1,490 $1,558 $1,652 $1,805 10% 8% % Margin 22% 21% 22% 23% 24% 25% Windows Segment $255 $370 $418 $427 $471 $522 28% 15% % Margin 10% 13% 14% 14% 15% 16% Commercial Segment 333 261 300 322 305 319 (5%) (1%) % Margin 17% 12% 13% 14% 14% 14% Siding Segment 266 302 328 329 350 378 11% 7% % Margin 19% 18% 19% 19% 19% 20% Corporate Expenses (132) (133) (142) (149) (164) (177) Corporate Risk Adjustment -- (50) (50) (50) (50) (50) Total Adj. EBITDA $721 $750 $853 $879 $913 $992 9% 7% % Growth 26% 4% 14% 3% 4% 9% % Margin 13% 12% 13% 13% 13% 14%

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25 Limited Trading Float Potentially Weighing on Valuation Source: Company filings and FactSet as of February 10, 2022. Float as a % of Basic Shares Outstanding 99% 98% 98% 96% 95% 42% OC AMWD DOOR PGTI JELD CNR ADTV as % of BSO: Top Shareholder: Top 10 Shareholders: 0.81% 0.62% 0.52% 0.40% 0.61% 0.51% 9.7% 15.0% 9.7% 14.2% 15.4% 49.2% Vanguard BlackRock Vanguard BlackRock Fidelity COPY 41.4% 61.8% 49.8% 60.9% 63.3% 72.1% RETURN

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26 CY ’21E–’23E Rev. CAGR(1) CY ’22E EBITDA Margin CY ’21E–’23E EBITDA CAGR(1) Benchmarking RETURN’s Financial Metrics vs. Peers Source: Company filings, Management projections and FactSet as of February 10, 2022. Note: Percentiles exclude RETURN. EBITDA is unburdened for stock-based compensation. RETURN Management Case net leverage based on LTM values as of December 31, 2021. (1) Reflects management case growth for ’21A –’23E. (2) AMWD ’23E EBITDA estimates unavailable. Represents ’21E –’22E growth. Peers RETURN RETURN (Feb. 3rd Case) Peer Mean 25th Percentile Peer Median 75th Percentile Net Leverage Peer Mean 25th Percentile Peer Median 75th Percentile Peer Mean 25th Percentile Peer Median 75th Percentile Peer Mean 25th Percentile Peer Median 75th Percentile 3.0x 2.3x 2.9x 1.1x 3.7x 3.4x 3.0x 2.9x 1.1x 1.1x 17% 15% 15% 11% 23% 17% 15% 12% 11% 10% 11% 9% 9% 8% 15% 11% 9% 9% 8% 4% (2) 6% 7% 6% 5% 12% 9% 6% 6% 5% 5% RETURN (Feb. 3rd Case) RETURN (Feb. 3rd Case) RETURN (Feb. 3rd Case)

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27 CY ’19A–’21E Revenue CAGR(1) CY ’19A-’21E EBITDA Margin Change(1) CY ’19A–’21E EBITDA CAGR(1) Benchmarking RETURN’s Financial Metrics vs. Peers (Cont.) Source: Company filings, Management projections and FactSet as of February 10, 2022. Note: Percentiles exclude RETURN. EBITDA is unburdened for stock-based compensation. PGT Innovations’ financials are pro forma for the acquisitions of NewSouth Window Solutions and Anlin Windows and Doors. (1) Reflects management case growth for ’19A –’21A. RETURN (Feb. 3rd Case) RETURN (Feb. 3rd Case) RETURN (Feb. 3rd Case) Peer Mean 25th Percentile Peer Median 75th Percentile Peer Mean 25th Percentile Peer Median 75th Percentile Peer Mean 25th Percentile Peer Median 75th Percentile 10% 9% 8% 6% 17% 10% 8% 8% 6% 5% 21% 9% 7% 7% 22% 21% 16% 7% 7% (14%) +300 +8 +36 (265) +460 +300 +170 +36 (265) (491) (bps) Peers RETURN

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28 Unaffected Historical Multiples L5Y L3Y LTM Mean Mean Mean Current RETURN 7.1x 6.9x 6.8x 6.1x Peers 8.0x 7.8x 7.8x 6.6x Δ vs. Peers (0.9x) (0.8x) (0.9x) (0.6x) 4.0x 6.0x 8.0x 10.0x 12.0x Feb-17 Feb-18 Feb-19 Feb-20 Feb-21 $0 $5 $10 $15 $20 $25 $30 $35 Feb-17 Feb-18 Feb-19 Feb-20 Feb-21 Feb-22 Historical Unaffected Trading and Valuation - RETURN vs. Peers Source: FactSet and Wall Street research as of February 4, 2022. Note: EBITDA is unburdened for stock-based compensation. Peers consist of American Woodmark, Jeld-Wen, Masonite International, Owens Corning and PGT Innovations. Valuation (EV / NTM EBITDA) 6.1x 6.6x 7.8x 7.4x Unaffected: $14.09 (12%) COPY Indication: $24.65 +36% Share Price Performance Peer Group Mean RETURN Δ vs. Peers Δ: 0.5x Δ: (0.6x) Unaffected Historical Returns L5Y L3Y LTM RETURN (12%) +69% +21% Peers +36% +49% (10%) Feb-22

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29 – $10.00 $20.00 $30.00 Dec-19 Jun-20 Dec-20 Jun-21 Dec-21 Outlook Target Valuation Operating Metrics 2022E '20A-'22E % Prem. EV / 2022E 2022E EBITDA EBITDA Broker Price Target To Unaffected Base Year EBITDA Revenue EBITDA Margin CAGR 92% 2022E NA $6,118 $768 12.6% 12.5% 77% 2022E 7.7x 6,109 748 12.2% 11.0% 63% 2022E 7.0x 6,119 767 12.5% 12.4% 35% 2022E 7.0x 5,706 731 12.8% 9.7% Median 70% 7.0x $6,113 $758 12.5% 11.7% $27 $25 $23 $19 $24 Current Analyst Perspectives on RETURN RETURN Analyst Sentiment Over Time Buy Hold Buy Hold Sell RETURN Share Price Median Price Target $24.00 $14.09 (1) Source: Wall Street research as of February 4, 2022. (1) Based on RETURN’s unaffected share price of $14.09 as of February 4, 2022.

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30 Debt / Unlevered Beta Equity 1.05 1.10 1.15 1.20 1.25 10% 11.3% 11.7% 12.1% 12.4% 12.8% 20% 11.1% 11.5% 11.9% 12.2% 12.6% 30% 11.0% 11.3% 11.7% 12.0% 12.4% 40% 10.8% 11.2% 11.5% 11.9% 12.2% 50% 10.7% 11.1% 11.4% 11.8% 12.1% 60% 10.6% 11.0% 11.3% 11.6% 12.0% Weighted Average Cost of Capital Analysis – RETURN Selected Public Companies Illustrative WACC IllustrativeWACC Sensitivity Source: Public company filings, Wall Street research, Bloomberg, S&P Capital IQ and FactSet as of February 10, 2022. Note: Dollars in millions. Companies sorted by market cap. (1) Reflects unaffected market data as of February 4, 2022. (2) Represents adjusted two-year weekly beta relative to S&P 500. (3) Unlevered Beta equals (Levered Beta / (1 + (1 - Tax Rate) * (Debt / Equity)). Tax rate used is 25%. (4) Reflects median for Peer Observed. (5) Levered Beta equals (Unlevered Beta * (1 + (1 - Tax Rate) * (Debt / Equity)). Tax rate used is 25%. (6) Reflects yield on 20-year U.S. Treasury. (7) Reflects U.S. long-horizon equity risk premium per Duff & Phelps 2022 valuation handbook. (8) Reflects size premium for companies with market capitalizations between ~$1,306mm and ~$2,165mm per Duff & Phelps 2022 valuation handbook. (9) Peer Observed pre-tax cost of debt is based on the BB U.S. high-yield index effective yield per St. Louis Fed. RETURN Observed pre-tax cost of debt is based on yield to worst of RETURN’s senior notes due 2029. (10) WACC equals ((Debt / Capitalization * After-Tax Cost of Debt) + (Equity / Capitalization * Cost of Equity)). Market Debt Debt / Beta Company Cap ($mm) ($mm) Equity Levered(2) Unlevered(3) Owens Corning $9,181 $3,095 34% 1.44 1.15 Masonite 2,330 878 38% 1.58 1.23 JELD-WEN 2,181 1,822 84% 1.83 1.13 PGT Innovations 1,098 635 58% 1.51 1.05 American Woodmark 897 506 56% 1.68 1.18 75th Percentile 58% 1.68 1.18 Mean 54% 1.61 1.15 Median 56% 1.58 1.15 25th Percentile 38% 1.51 1.13 RETURN(1) $1,849 $3,081 167% 2.01 0.89 Peer RETURN Observed Observed Unlevered Beta(4) 1.15 0.89 Debt / Equity(4) 56% 167% Levered Beta(5) 1.630 2.010 Risk-Free Rate(6) 2.4% 2.4% Market Risk Premium(7) 7.5% 7.5% Market Size Premium(8) 1.3% 1.3% Cost of Equity 15.9% 18.7% Pre-Tax Cost Of Debt(9) 4.30% 5.20% Tax Rate 25.0% 25.0% After-Tax Cost Of Debt 3.2% 3.9% % Equity 63.9% 37.5% % Debt 36.1% 62.5% Estimated WACC(10) 11.3% 9.5% For Reference Only

Exhibit (c)(7)

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March 5, 2022 Presentation to the Special Committee Project RETURN

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1 Disclaimer This presentation has been prepared by Centerview Partners LLC (“Centerview”) for use solely by the management and Special Committee of RETURN, Inc.(“RETURN”) in connection with its evaluation of a proposed transaction involving RETURN and for no other purpose. The information contained herein is based upon information supplied by or on behalf of RETURN and publicly available information, and portions of the information contained herein may be based upon statements, estimates and forecasts provided by RETURN. Centerview has relied upon the accuracy and completeness of the foregoing information, and has not assumed any responsibility for any independent verification of such information or for any independent evaluation or appraisal of any of the assets or liabilities (contingent or otherwise) of RETURN or any other entity, or concerning the solvency or fair value of RETURN or any other entity. With respect to financial forecasts, Centerview has assumed that such forecasts have been reasonably prepared on bases reflecting the best currently available estimates and judgments of the management of RETURN as to the future financial performance of RETURN, and at your direction Centerview has relied upon such forecasts, as provided by RETURN’s management, with respect to RETURN. Centerview assumes no responsibility for and expresses no view as to such forecasts or the assumptions on which they are based. The information set forth herein is based upon economic, monetary, market and other conditions as in effect on, and the information made available to us as of, the date hereof, unless indicated otherwise and Centerview assumes no obligation to update or otherwise revise these materials. The financial analysis in this presentation is complex and is not necessarily susceptible to a partial analysis or summary description. In performing this financial analysis, Centerview has considered the results of its analysis as a whole and did not necessarily attribute a particular weight to any particular portion of the analysis considered. Furthermore, selecting any portion of Centerview’s analysis, without considering the analysis as a whole, would create an incomplete view of the processunderlying its financial analysis. Centerview may have deemed various assumptions more or less probable than other assumptions, so the reference ranges resulting from any particular portion of theanalysis described above should not be taken to be Centerview’s view of the actual value of RETURN. These materials and the information contained herein are confidential, were not prepared with a view toward public disclosure, and may not be disclosed publicly or made available to third parties without the prior written consent of Centerview. These materials and any other advice, written or oral, rendered by Centervieware intended solely for the benefit and use of the management and Special Committee of RETURN (in its capacity as such) in its consideration of the proposed transaction, and are not for the benefit of, and do not convey any rights or remedies for any holder of securities of RETURN or any other person. Centerview will not be responsible for and has not provided any tax, accounting, actuarial, legal or other specialist advice. These materials are not intended to provide the sole basis for evaluating the proposed transaction, and this presentation does not represent a fairness opinion, recommendation, valuation or opinion of any kind, and is necessarily incomplete and should be viewed solely in conjunction with the oral presentation provided byCenterview.

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2 Review of Key Dates for the Special Committee . Oct. 13, 2021: Kick-off call to review process objectives and framework . Oct. 25, 2021: Strategic review of RETURN’s current market positioning, Management standalone plan and strategic alternatives; discussion of preliminary financial analysis of Management standalone plan . Nov. 2, 2021: Financial update call conducted by RETURN Management / Centerview with COPY . Nov. 12, 2021:COPY communicated to Centerview that they are prepared to consider exploring a transaction at an indicative valuation of $22.00 per share (29% implied spot premium(1)) and reiterated that they are not a seller; COPY also requested to engage with a limited number of financing sources and complete focused due diligence – Special Committee subsequently authorized COPY to discuss financing with Goldman and RBC – Special Committee also authorized Centerview to communicate to COPY that a non-binding indication of interest would be needed to assess further engagement . Nov. 22, 2021: COPY communicated to Centerview that they are prepared to consider a transaction at an indicative valuation of $23.00 per share; COPY confirmed their leverage assumptions with Goldman Sachs and RBC of 6x+ through HoldCo note – Special Committee subsequently authorized Centerview to communicate to COPY that the Special Committee would be unwilling to transact at $23.00 per share – Special Committee also instructed Management to create a single operating case to serve as the basis for analyses as the process progressed . Dec. 2, 2021: COPY requested business unit calls with the following attendees: Art Steinhafel and Jim Keppler (U.S. Windows); John Buckley and Jim Keppler (U.S. Siding); Philip Langlois (Canada); Matt Ackley and Jim Keppler (Commercial) . Dec. 3, 2021: RETURN’s CFO presented a Management Case to the Special Committee and subsequently shared the projections with Centerview (1) Based on RETURN’s closing share price of $17.04 as of November 12, 2021.

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3 Review of Key Dates for the Special Committee (Cont.) . Dec. 16, 2021: RETURN Management and COPY completed the requested business unit reviews; focus centered on the Management Plan, including underlying drivers, market context and operating synergies – COPY then requested follow-up materials as part of their ongoing review of value – Special Committee approved distribution of the requested follow-up materials on December 20, 2021 . Dec. 22, 2021: COPY communicated to Centerview that they are prepared to consider a transaction at an indicative valuation of $23.50 per share – COPY expressed concerns around specific assumptions in the projections shared by Management • Volume for Windows segment and materials pricing-cost spread for Commercial segment . Jan. 3, 2022: RETURN’s CFO provided the Special Committee with an update to the Management Plan . Jan. 19, 2022: COPY and COPY’s advisors were provided access to a virtual data room – Management and Centerview have since completed multiple requests related to COPY’s business, financial and operational due diligence . Feb. 3, 2022: RETURN’s CFO provided Centerview with an update to the Management Plan, which Centerview subsequently shared with COPY; update included the UCC acquisition and actual balance sheet figures as of December 31, 2021 . Feb. 7, 2022: COPY communicated to Centerview that they are prepared to consider a transaction at an indicative valuation of $24.50 per share . Feb. 7, 2022: Unusually high options trading reported in RETURN stock . Feb. 10, 2022: Bloomberg reports potential COPY offer . Feb. 10, 2022: Following communication with Centerview, COPY communicated to Centerview that they are prepared to consider a transaction at an indicative valuation of $24.65 per share

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4 Review of Key Dates for the Special Committee (Cont.) . Feb. 11, 2022: Centerview presented materials to the Special Committee that included an overview of COPY’s most recent indication of value ($24.65 per share) and Centerview’s updated preliminary financial analysis . Feb. 12, 2022: RETURN granted COPY a limited waiver of the standstill restrictions contained in the Stockholders Agreement, dated November 16, 2018 . Feb. 14, 2022: RETURN publicly announced receipt of a non-binding, best and final proposal from COPY to acquire all of the outstanding shares of common stock not owned by COPY for $24.65 in cash per share . Feb. 14, 2022: COPY filed a Schedule 13D/A and included a copy of the proposal letter as an exhibit – Proposal letter stated: “We would also like to take this opportunity to confirm that at this time we are only interested in acquiring all of the Common Stock not already owned by the CD&R Funds, and we are not interested in pursuing any potential alternative transaction.”

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5 Situation Update . Following the Special Committee meeting on February 11, several key workstreamswith regards to the proposal from COPY have been advanced, including: – Publicly announced receipt of COPY’s non-binding proposal on February 14, 2022 – Completed multiple requests related to COPY’s due diligence and financing process – Received a summary of the Sources & Uses and pro forma capitalization from COPY – Received feedback from shareholders regarding COPY’s proposal (please refer to pages 20-21) – Outlined the treatment of company equity awards – Prepared external communications in the event signing of the Merger Agreement were completed – Drafted and revised multiple transaction documents, including: • Merger Agreement • Voting and Support Agreement • Equity Commitment Letter • Limited Guarantee . After announcement, there were a number of strategic conversations . Today’s materials include an overview of the transaction and Centerview’s financial analysis – Where stated, implied premia and multiples herein reflect unaffected trading levels as of February 4, 2022 – the last day prior to speculation in the market regarding a take-private transaction of RETURN

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6 Strategic Outreach Summary Company Contact Position Notes Nucor Alex Hoffman General Manager, Business Development - Not interested Westlake Chemical Larry Schubert VP, Corporate Development & Sustainability - Engaged on outreach Mohawk Industries James Brunk CFO - Not interested LafargeHolcim Geraldine Picaud CFO - Not interested Carlisle Companies Kevin Zdimal CFO - Not interested Saint-Gobain Mark Rayfield CEO of North America & CertainTeed - Not interested CRH David Dillon EVP, Chief of Staff - Not interested

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7 Description . Parent to acquire 100% of Company common stock not owned by COPY and its affiliates via a reverse triangular merger . Parent to pay holders of Company stock not owned by COPY or its affiliates $24.65 per share in cash (other than to dissenting stockholders) . Approval of stockholders representing majority of the voting power of the outstanding stock and approval of stockholders representing a majority of the voting power of the outstanding stock owned by stockholders unaffiliated with COPY . Accuracy of each party’s representations and warranties and material compliance with covenants . Other customary conditions to closing of merger include receipt of HSR clearance and other required approvals, and absence of legal restraint . No financing condition to closing . No-shop with ability to negotiate with a third party that makes an unsolicited written Acquisition Proposal that the Company board (acting on recommendation of the Special Committee) or the Special Committee determines either constitutes or is reasonably likely to result in a Superior Proposal . Ability to make a Change of Recommendation and/or terminate merger agreement prior to the Requisite Company Stockholder Approvals in response to a Superior Proposal that Parent does not match following 4-business day notice and negotiation period with Parent . Company Termination Fee of $105mm if: (i) Agreement is terminated by Parent because of a Change of Recommendation; (ii) Agreement is terminated by the Company in order to accept a Superior Proposal and enter into a binding written definitive acquisition agreement with respect to such Superior Proposal; or (iii)(A) the Agreement is terminated either (1) by Parent or the Company if the Requisite Company Stockholder Approvals are not obtained or (2) by Parent because of a material breach by the Company of its covenants relating to Acquisition Proposals and board recommendations; and (B) (1) an Acquisition Proposal has been publicly made for 50% of the Company and not withdrawn prior to termination and (2) within 12 months after termination, the Company consummates a transaction contemplated by an Acquisition Proposal or enters into an alternative agreement . Parent Termination Fee of $210mm if: (i) Agreement is terminated by the Company (1) because of a breach by Parent of any representation, warranty, covenant or agreement in the Agreement or (2) prior to the Effective Time, the Marketing Period has ended and the conditions to closing have been satisfied or waived and Parent fails to effect the closing within 1 business day of the date that the closing is otherwise required to occur or (ii) Agreement is terminated because of the Outside Date and at such time the Company could have terminated the Agreement because of a breach by Parent . End Date of 6 months from signing of the agreement, with extension to [December 9, 2022] (date that is 20 business days after Q2 financials become stale) to obtain regulatory approvals or in connection with the debt financing’s Marketing Period . Governed by Delaware law Overview Consideration Termination Fee and Rights Deal Protection Key Conditions Other Note: Capitalized terms used hereinshall have the meanings assigned to them in the draft merger agreement. (1) Based on the 03/03/22 draft merger agreement. Summary of Key Transaction Terms(1)

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8 Table of Contents Section I …………………………………………………………………....Transaction Overview Section 2 …………………………………………………………Centerview’s Financial Analysis Appendix ………………………………………………………………...Supplementary Materials

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Transaction Overview 1

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10 Transaction Summary Consideration . $24.65 per share in cash Source: Management projections provided on February 3, 2022. Company filings and FactSet as of March 4, 2022 and February 4, 2022. Note: Dollars in millions, except per share amounts. (1) Reflects closing share price trading levels. (2) Based on pro forma capitalization as of June 30, 2022E per COPY. (3) Based on 127.0mm basic shares, 3.0mm stock options with a weighted average exercise price of $10.28, 1.9mm RSUs and 1.4mm PSUs. (4) Based on 127.0mm basic shares, 3.0mm stock options with a weighted average exercise price of $10.28, 1.9mm RSUs and 3.0mm PSUs. (5) RETURN balance sheet as of Dec. 31, 2021. Overview Financing . Indebtedness will be incurred by a Holdco above the RETURN credit group following the merger – RETURN’s outstanding debt would stay in place – $950mm of new senior secured notes – $725mm of new PIK HoldCo notes – $195mm of new cash equity – Net secured leverage of 4.1x(2) – Total net leverage of 5.6x(2) Summary Financials Unaffected COPY (as of 2/4/22) Proposal Implied Valuation Share Price $14.09 $24.65 % Premium to Unaffected Price – 74.9% Diluted Shares Outstanding 131.3 133.7 Equity Value $1,849 $3,297 Less: Cash(5) (394) (394) Plus: Debt(5) 3,081 3,081 Enterprise Value $4,535 $5,983 Implied Multiples Multiple: Metric: 2021A $721 6.3x 8.3x 2022E 750 6.1x 8.0x EV / EBITDA (February 3 Mgmt. Case) Implied Premia Market Data as of March 4, 2022 Current Share Price ($21.31) 15.7% Market Data as of Unaffected Date of February 4, 2022 Share Price ($14.09) 74.9% 30-Day VWAP ($15.94) 54.6% 90-Day VWAP ($15.59) 58.1% 1-Year VWAP ($13.89) 77.4% 52-Week High ($19.50) (1) 26.4% (3) (4)

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11 Source: FactSet as of February 4, 2022. Note: Closing share price and 30-day VWAP as of the date COPY communicated value for RETURN shares not owned, except for dates after February 4, 2022. (1) Reflects unaffected market data as of February 4, 2022. (2) Based on RETURN share price of $14.09 as of February 4, 2022. Summary of COPY’s Indications of Value For RETURN Shares Not Owned Evolution of Value Communicated by COPY Date of Received Indication Nov. 12, 2021 Nov. 22, 2021 Dec. 22, 2021 Feb. 7, 2022 Feb. 10, 2022 Value Communicated (per share) 1-Day Spot Price $17.04 $17.23 $16.14 $14.09 $14.09 30-Day VWAP $14.84 $15.36 $16.22 $15.94 $15.94 % Premium to 1-Day Spot Price 29.1% 33.5% 45.6% 73.9% 74.9% % Premium to 30-Day VWAP 48.3% 49.8% 44.9% 53.7% 54.6% % Premium to Unaffected Price (2) 56.1% 63.2% 66.8% 73.9% 74.9% % Change to Initial Indication -- +4.5% +6.8% +11.4% +12.0% % Change to Previous Indication -- +4.5% +2.2% +4.3% +0.6% RETURN Trading Implied Premium Change in Indication $22.00 $23.00 $23.50 $24.50 $24.65 Communicated after irregular trading activity on Feb. 7, 2022 – below reflects market data as of Feb. 4, 2022 (1) (1) (1) (1)

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12 $0 $5 $10 $15 $20 $25 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 RETURN’s Historical Share Price Performance Source: FactSet as of February 4, 2022 and March 4, 2022. Note: Unaffected price reflects share price as of February 4, 2022. (1) Reflects closing share price trading levels. $12.35 Current: $21.31 Jul. 17, 2018: NCI and Ply Gem announced merger Nov. 16, 2018: NCI and Ply Gem merger closed RETURN’s Share Price Performance (Last 10 Years) Implied Premia Share Price per COPY Proposal $24.65 vs. Current ($21.31) 15.7% (Market Data as of Unaffected Date of 2/4/22) vs. Unaffected ($14.09) 74.9% vs. 30-Day VWAP ($15.94) 54.6% vs. 90-Day VWAP ($15.59) 58.1% vs. 1-Year VWAP ($13.89) 77.4% vs. 52-Week High ($19.50) 26.4% vs. 52-Week Low ($11.10) 122.1% vs. 10-Year High ($23.00) 7.2% (1) (1) COPY Proposal: $24.65 Feb. 19, 2020: Pre-COVID trading Feb. 10, 2022: Bloomberg reports potential COPY offer Feb. 7, 2022: Unusually high options trading reported in RETURN stock 2/4/22 Unaffected: $14.09 +14% (1) Feb. 14, 2022: RETURN files 8-K acknowledging receipt of proposal from COPY Sept. 8, 2014: NCI reports Q3’14 results Sept. 4, 2013: NCI reports Q3’13 results Mar-22

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Centerview’s Financial Analysis 2

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14 Source: FactSet as of February 4, 2022 and March 4, 2022. (1) Based on RETURN’s unaffected share price of $14.09 as of February 4, 2022, unaffected 30-day VWAP of $15.94 and unaffected 52-week high of $19.50. . Selected publicly-traded comparable companies in the building products sector . Valuation multiples based on Enterprise Value / CY 2022E EBITDA . Multiples applied to RETURN’s 2022E EBITDA per RETURN February 3 Management Case . Based on RETURN February 3 Management Case . Perpetuity growth rate of 1.75% - 2.50% . Weighted average cost of capital (“WACC”) range of 10.0% - 12.5% . Selected precedent M&A transactions in the building products sector – Includes transactions completed with U.S. targets in the last 5 years (deal size greater than $1bn) . Multiples applied to RETURN’s LTM EBITDA as of December 31, 2021 . RETURN’s closing share price trading levels over the 52 weeks prior to the unaffected date of February 4, 2022 52-Week Trading Range Selected Precedent Transactions Analysis Discounted Cash Flow (DCF) Analysis . Range of Wall Street analyst price targets for RETURN as of: – Unaffected date of February 4, 2022 – March 4, 2022 including updates after COPY’s Schedule 13D/A filing on February 14, 2022 Analyst Price Targets Selected Public Comparables Analysis Premia Paid Analysis . Range of premia paid on selected take-private transactions – Includes transactions completed with U.S. targets in the last 10 years (deal size of $1bn - $10bn) . Premia applied to RETURN’s unaffected share price, 30-day VWAP and 52-week high(1) Overview of Centerview’s Financial Analysis

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15 $10.75 $25.75 $20.50 $11.10 $19.00 $24.65 $16.50 $18.00 $18.00 $19.25 $39.00 $35.50 $19.50 $27.00 $27.00 $20.00 $21.50 $21.75 – $10.00 $20.00 $30.00 $40.00 Source: Wall Street research, Management projections provided on February 3, 2022, and FactSet as of February 4, 2022 for RETURN market data and March 4, 2022 for selected public comparables market data. Note: Dollars in millions, except per share figures. Implied share prices rounded to the nearest $0.25. Unaffected market data as of February 4, 2022. EBITDA is unburdened for stock-based compensation. (1) Implied share price calculated as implied enterprise value less $2.7bn of net debt, consisting of $3.1bn of debt and $0.4bn of cash as of Dec. 31, 2021, divided by fully diluted shares outstanding. Fully diluted shares outstanding based on 127.0mm basic shares, 3.0mm stock options with a weighted average exercise price of $10.28, 1.9mm RSUs and 3.0mm PSUs. 52-Week Trading Range Selected Public Comparables Selected Precedent Transactions Implied Share Price(1) LTM (as of 12/31/21) LTM EBITDA: $721mm Multiple: 8.5x - 11.0x February 3 Mgmt. Case WACC: 10.0% - 12.5% PGR: 1.75% - 2.50% Closing Price Unaffected Low - High February 3 Mgmt. Case 2022E EBITDA: $750mm Multiple: 5.5x - 7.0x Unaffected Price as of 2/4/22: $14.09 Analyst Price Targets Price Target (as of 2/4/22) Low - High DCF Analysis Premia Paid Analysis Implied Price Unaffected Share Price: $14.09 Premium: 16.7% - 42.2% COPY Proposal on 2/13/22: $24.65 Summary Financial Analysis Implied Price Unaffected 30-Day VWAP: $15.94 Premium: 12.8% - 33.8% Implied Price Unaffected 52-Week High: $19.50 Premium: (7.9%) - 12.0% For Reference Only Price Target (as of 3/4/22) Low - High

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16 Selected Public Trading Comparables Source: Company filings and FactSet as of February 4, 2022 for RETURN market data and March 4, 2022 for selected public comparables market data. Note: Dollars in billions. EBITDA is unburdened for stock-based compensation. All figures are based on RETURN fiscal year ending December 31. Companies sorted by equity value. Net leverage based on LTM EBITDA and balance sheet figures as of December 31, 2021. (1) Reflects unaffected market data as of February 4, 2022. Revenue EBITDA EBITDA Net Equity Enterprise EV / EBITDA Growth Growth Margin Leverage Company Value Value 2022E '21A - '22E '21A - '22E 2022E LTM Owens Corning $8.7 $10.9 5.1x 8% 9% 23% 1.1x Masonite 2.2 2.7 5.9x 8% 11% 16% 1.2x JELD-WEN 2.0 3.4 6.4x 8% 15% 10% 2.9x PGT Innovations 1.3 1.9 8.2x 21% 35% 16% 3.2x American Woodmark 1.0 1.5 8.0x 8% 12% 10% 3.1x Median $2.0 $2.7 6.4x 8% 12% 16% 2.9x RETURN (Feb. 3 Mgmt. Case)(1) $1.8 $4.5 6.1x 12% 4% 12% 3.7x

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17 Target EV / LTM Public Co. Target's LTM Financials Memo: Implied Premia Date Acquiror Company EV Sales EBITDA Target Sales EBITDA Margin 1-Day Prior 30-Day VWAP 7/19/21 Carlisle Companies Henry $1,575 3.1x 13.2x -- $511 $119 23.3% -- -- 6/20/21 Westlake Chemical Boral's N.A. Building Products 2,150 2.0x ~10.4x -- 1,100 ~206 ~19.0% -- -- 6/7/21 Nucor Cornerstone's Insulated Metal Panels 1,000 2.6x 13.3x -- 389 75 19.3% -- -- 11/15/19 ACPI Masco Cabinetry 1,000 1.1x 9.8x -- 950 102 10.7% -- -- 11/12/19 Saint-Gobain Continental Building Products 1,434 2.8x 10.4x x 514 138 26.8% +16% +27% 7/17/18 NCI Ply Gem 3,700 1.4x 10.9x -- 2,649 341 12.9% -- -- 1/31/18 CD&R Ply Gem 2,400 1.2x 9.7x x 2,056 246 12.0% +20% +18% 12/1/17 American Woodmark RSI Home Products 1,075 1.9x 8.7x -- 560 123 22.0% -- -- Median 1.9x 10.4x 19% Mean 2.0x 10.8x 18% Source: Company press releases, news articles, Wall Street research, CapIQ and FactSet. Note: EBITDA is unburdened for stock-based compensation. Transaction multiples represent approximate figures due to lack of disclosures. Multiples are on LTM basis unless otherwise noted. (1) Reflects midpoint of Westlake’s disclosure on acquisition call. Stock-based compensation reflects segment’s sales contribution. (2) Represents FY’18A figures. Stock-based compensation reflects segment’s sales contribution. (3) Represents FY’18E figures per merger proxy. Assumes stock-based compensation reflects FY’17A stock-based compensation as a percentage of FY’17A sales. Selected acquisitions of U.S. building products companies over the last 5 years with a deal size greater than $1bn (2) (1) (2) (2) (2) Selected Precedent Transactions (1) (3) (3) (3) (3)

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18 Discounted Cash Flow Analysis – February 3 Management Case Source: Management projections provided on February 3, 2022. Note: Dollars in millions, except per share items. Implied share prices rounded to nearest $0.25. (1) Adjusted EBITDA includes stock-based compensation as a cash expense. (2) Terminal year assumes D&A equal to CapEx going forward. (3) Implied terminal multiples based on adjusted EBITDA unburdened for stock-based compensation. Unlevered Free Cash Flow Build Terminal ($ in millions) 2022E 2023E 2024E 2025E 2026E Year Revenue $6,428 $6,766 $6,778 $6,857 $7,175 $7,175 % Growth 12% 5% 0% 1% 5% Adj. EBITDA (less: SBC)(1) $730 $833 $859 $893 $972 $972 % Margin 11% 12% 13% 13% 14% 14% (Less): D&A(2) (276) (252) (227) (203) (179) (179) EBIT $453 $581 $632 $690 $793 $793 (Less): Taxes (136) (174) (190) (207) (238) (238) NOPAT $317 $407 $442 $483 $555 $555 Plus: D&A(2) 276 252 227 203 179 179 Plus / (Less): Change in NWC 199 9 65 54 28 21 (Less): CapEx (161) (169) (169) (171) (179) (179) Plus: Cash Settlement (tax adj.) 53 -- -- -- -- -- Unlevered Free Cash Flow $684 $499 $565 $569 $582 $575 Implied Share Price Implied Terminal Multiple(3) Discount Perpetuity Growth Rate Rate 1.75% 2.13% 2.50% 10.00% $31.75 $33.50 $35.50 11.25% 25.25 26.50 28.00 12.50% 20.50 21.25 22.25 Discount Perpetuity Growth Rate Rate 1.75% 2.13% 2.50% 10.00% 7.2x 7.5x 7.9x 11.25% 6.2x 6.5x 6.8x 12.50% 5.5x 5.7x 5.9x

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Appendix Supplementary Materials

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20 Shareholder Feedback Received by Management “In summary, we view the $24.65 cash offer from Clayton, Dubilier & Rice, LLC (“CD&R”) favorably. While we obviously lack complete information in terms of other conditions related to the offer and other relevant details, from a value standpoint we believe this offer is within the realm of fair value. If CD&R is unable to elicit a higher bid, we believe a well-advised Special Committee would put this offer to shareholders, subject to CD&R’s commitment that any transaction be approved by a majority of the unaffiliated shareholders. As a matter of good corporate governance, we believe in such situations unaffiliated shareholders should make the final decision.” Andrew Friedman February 18, 2022 “Since our conversation, The Kempen Global Value fund has become a shareholder of Cornerstone Building Brands. In general, we feel very good about Cornerstone’s operational performance in the last few years which has led to strong EBITDA growth since the merger of Ply Gem Building Products and NCI Building Systems. We believe that Cornerstone is extremely well positioned to benefit from the current high demand in both the residential and commercial end-markets. I am emailing you in relation to today’s decision to cancel your Q4 conference call and to delay the publishing of your financial results. I appreciate that CNR’s board of directors is taking its fiduciary responsibility seriously by forming a Special Committee to consider CD&R’s unsolicited bid for CNR. However, since their offer doesn’t come close to what we consider fair value of CNR, we believe it is a mistake to let this bid disrupt the ordinary course of business. Even more so given that the proposal is non-binding and does not contain any customary break-up fee. We believe that a process in which all strategic alternatives are considered could yield a result th at is far more favorable for minority shareholders than CD&R’s bid. For that reason, we are surprised that you have chosen to cancel the earnings call. I believe that the timely release of CNR’s financial performance and an earnings call in which questions can be openly addressed is important to allow your shareholders to make an informed decision. I understand that your recently formed Special Committee has not made any recommendation yet. I think it’s a mistake to operate under the assumption that CNR will be sold at the current price of $24.65 / share.” Roderick van Zuylen February 18, 2022 Global Value Fund

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21 Shareholder Feedback Received by Management (Cont’d) (1) Peers defined as JELD, DOOR, MHK, OC, & BLDR. (2) Letter, dated February 13, 2022 from the Sponsor to the Special Committee. (3) Limited Waiver, dated February 12, 2022. “Boussard & Gavaudan Investment Management LLP, Boussard & Gavaudan Asset Management, LP and Boussard & Gavaudan Gestion SAS (“Boussard & Gavaudan” or “we”) advise investment funds who collectively own 224,141 shares of Cornerstone Building Brands (“CNR”). We write to share our view on the February 13, 2022 take-private proposal (the “Proposal”) from Clayton, Dubilier & Rice, LLC (“CD&R”). We believe that the Proposal should be approved and recommended by the Special Committee and the parties should promptly move to negotiating and executing a mutually acceptable definitive agreement. Our position is based on the following considerations: Attractive Valuation Relative to History & Peers. The $24.65 per share best and final consideration represents a 75% premium to the February 4, 2022 unaffected closing price, a 55% premium to the trailing 30 day VWAP and a 7% premium to the post-Great Financial Crisis high of $23.00 on June 8, 2018. Moreover, the Proposal represents 8.5x LTM adj. EBITDA, a significant premium to the CNR post-COVID average historical multiple (~6.5x) and the current average peer multiple(1) (~7.0x). On 2022E consensus EBITDA, the price represents a significant premium at 7.3x vs a 6.5x peer average, particularly considering CNR recently trading near the bottom of peer valuations. Exploratory Discussions have resulted in a Proposal “significantly increased in value.” The Proposal and the Limited Waiver from the Stockholders Agreement (“Limited Waiver”) reference communications between the parties regarding valuation and price that has resulted in a Proposal which “has significantly increased in value since the outset of our exploratory discussions”(2) at a “price per share not less than the amount recently discussed by the CD&R Investors with representatives of the Special Committee.”(3) Clearly the exploratory discussions have reached the stage of an explicit price being discussed and the Special Committee feeling comfortable providing the Limited Waiver at that price. We believe it would be inconsistent for the Special Committee to grant the Limited Waiver based on one price but to subsequently not recommend a potential transaction at the same price. The Proposal Gives Shareholders the Right to Decide. As stated in the proposal letter to the Special Committee, CD&R has made its Proposal expressly conditioned on majority approval of non-CD&R affiliated shareholders. We support this condition as an important protection for non-CD&R shareholders. As such, we believe that the Special Committee can feel confident that by approving the Proposal they are not themselves determining the outcome, but instead letting non-CD&R affiliated shareholders dictate whether they believe the Proposal is acceptable versus continuing to execute as a public company.” Emmanuel Gavaudan February 28, 2022 Millennium Management and Pretium Credit Management conveyed to RETURN Management that: • Not providing guidance and restricting conversations imped the ability for investors to invest in the stock • It has been several weeks since the announcement without an update. Concerned that the Special Committee is not and will have the appearance that they are acting without urgency • Commented that the stock price reflects risk that the proposal will be rejected, both feel it is a fair offer Millennium Management and Pretium Credit Management March 4, 2022

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22 Fiscal Year Ending December 31, 2021A 2022E 2023E 2024E 2025E 2026E Net Sales $5,746 $6,428 $6,766 $6,778 $6,857 $7,175 % Growth 23% 12% 5% 0% 1% 5% Gross Profit $1,238 $1,330 $1,490 $1,558 $1,652 $1,805 % Margin 22% 21% 22% 23% 24% 25% Operating Income $332 $451 $579 $630 $688 $791 % Margin 6% 7% 9% 9% 10% 11% Net Income $52 $262 $319 $383 $440 $528 % Margin 1% 4% 5% 6% 6% 7% Diluted Earnings per Share $0.41 $2.06 $2.52 $3.02 $3.47 $4.16 Adjusted EBITDA $721 $750 $853 $879 $913 $992 % Margin 13% 12% 13% 13% 13% 14% Unlevered Free Cash Flow(2) $70 $684 $499 $565 $569 $582 % Margin 1% 11% 7% 8% 8% 8% Source: Management projections provided on February 3, 2022. Note: Dollars in millions, except per share figures. EBITDA is unburdened for stock-based compensation. (1) Excludes $831mm gain on sale of IMP and DBCI business units. (2) Includes stock-based compensation as an expense. (3) Includes a $75mm payment from a settlement agreement filed on August 25, 2021 between parties to a class action complaint filed on November 14, 2018. The settlement remains subject to court approval. RETURN’s counsel believes that the likelihood of approval of the settlement is over 95%. (3) RETURN February 3 Management Case Summary (1) (1) (1)

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23 Unaffected Historical Multiples L5Y L3Y LTM Mean Mean Mean Current RETURN 7.1x 6.9x 6.8x 6.1x Peers 8.0x 7.8x 7.8x 6.6x Δ vs. Peers (0.9x) (0.8x) (0.9x) (0.6x) 4.0x 6.0x 8.0x 10.0x 12.0x Feb-17 Feb-18 Feb-19 Feb-20 Feb-21 $0 $5 $10 $15 $20 $25 $30 $35 Feb-17 Feb-18 Feb-19 Feb-20 Feb-21 Feb-22 Historical Unaffected Trading and Valuation – RETURN vs. Peers Source: FactSet and Wall Street research as of February 4, 2022. Note: EBITDA is unburdened for stock-based compensation. Peers consist of American Woodmark, Jeld-Wen, Masonite International, Owens Corning and PGT Innovations. Valuation (EV / NTM EBITDA) 6.1x 6.6x 7.8x 7.4x Unaffected: $14.09 (12%) COPY Proposal: $24.65 +36% Share Price Performance Peer Group Mean RETURN Δ vs. Peers Δ: 0.5x Δ: (0.6x) Unaffected Historical Returns L5Y L3Y LTM RETURN (12%) +69% +21% Peers +36% +49% (10%) Feb-22

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24 Premia Paid Analysis – Go-Private and All-Cash Transactions Premiums paid in precedent transactions Source: FactSet as of February 4, 2022. Note: Includes complete and pending transactions. Excludes finance, real estate and insurance targets, as well as transactions with premiums greater than 200%. (1) Premium to unaffected share price for go-privates over the last 10 years involving U.S. public companies $1-10bn in transaction value. (2) Premium to unaffected share price for all-cash transactions over the last 10 years involving U.S. public companies $1-10bn in transaction value. (3) Based on RETURN’s unaffected share price of $14.09 as of February 4, 2022. (4) Represents implied share prices based on RETURN’s unaffected 52-week high share price of $19.50 and related 25 th and 75th percentile premiums for precedent transactions. (5) Represents implied share prices based on RETURN’s unaffected 30-day VWAP of $15.94 and related 25th and 75th percentile premiums for precedent transactions. Go-Private Premiums(1) All-Cash Premiums(2) Implied RETURN Unaffected Share Price(3) $16.45 $17.88 $18.45 $20.03 $22.37 Implied RETURN Unaffected Share Price(3) $16.75 $18.37 $19.52 $21.31 $24.39 16.7% 26.9% 30.9% 42.2% 58.8% 25th Percentile Median Mean 75th Percentile 90th Percentile 18.9% 30.3% 38.6% 51.2% 73.1% 25th Percentile Median Mean 75th Percentile 90th Percentile $17.96 $21.83 $18.08 $21.45 $23.59 $23.38 $19.36 $19.09 52-Week High(4) Unaffected 30-Day VWAP(5) Below reflects premium to one-day unaffected spot price Below reflects premium to one-day unaffected spot price Reflects 25th and 75th percentile premia to 52-week high Reflects 25th and 75th percentile premia to 52-week high Reflects 25th and 75th percentile premia to unaffected 30-day VWAP Reflects 25th and 75th percentile premia to unaffected 30-day VWAP

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25 Outlook Operating Metrics As of Feb. 4, 2022 (Unaffected) Updates After Feb. 4, 2022 2022E '21A-'22E EV / 2022E EV / 2022E 2022E 2022E EBITDA EBITDA Broker Price Target Rating EBITDA Price Target Rating EBITDA Revenue EBITDA Margin Growth $27.00 Buy NA –– –– –– $6,118 $768 12.6% 9.6% 25.00 Buy 7.7x –– Hold –– 6,109 748 12.2% 9.4% 23.00 Buy 7.0x $24.65 Hold –– 6,119 767 12.5% 9.6% 19.00 Hold 7.0x 25.00 –– 7.6x 5,706 763 13.4% 2.2% Median $24.00 7.6x $25.00 7.6x $6,113 $765 12.5% 9.5% – $10.00 $20.00 $30.00 Feb-20 Aug-20 Feb-21 Aug-21 Feb-22 Analyst Perspectives on RETURN RETURN Analyst Sentiment Over Time Buy Hold Sell RETURN Share Price Median Price Target $24.00(1) $14.09(1) Source: Wall Street research as of February 4, 2022 and March 4, 2022. (1) Based on RETURN’s unaffected date of February 4, 2022. (1)

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26 Debt / Unlevered Beta Equity 1.00 1.05 1.10 1.15 1.20 1.25 10% 10.8% 11.2% 11.6% 11.9% 12.3% 12.7% 20% 10.7% 11.0% 11.4% 11.7% 12.1% 12.5% 30% 10.5% 10.9% 11.2% 11.6% 11.9% 12.3% 40% 10.4% 10.8% 11.1% 11.5% 11.8% 12.2% 50% 10.3% 10.7% 11.0% 11.4% 11.7% 12.0% 60% 10.2% 10.6% 10.9% 11.3% 11.6% 11.9% Weighted Average Cost of Capital Analysis – RETURN Selected Public Companies Illustrative WACC IllustrativeWACC Sensitivity Source: Public company filings, Wall Street research, Bloomberg, S&P Capital IQ and FactSet as of March 4, 2022. Note: Dollars in millions. Companies sorted by market capitalization. (1) Reflects unaffected market data as of February 4, 2022. (2) Represents adjusted two-year weekly beta relative to S&P 500. (3) Unlevered Beta equals (Levered Beta / (1 + (1 - Tax Rate) * (Debt / Equity)). Tax rate used is 25%. (4) Reflects median for Peer Observed. (5) Levered Beta equals (Unlevered Beta * (1 + (1 - Tax Rate) * (Debt / Equity)). Tax rate used is 25%. (6) Reflects yield on 20-year U.S. Treasury. (7) Reflects U.S. long-horizon equity risk premium per Duff & Phelps 2022 valuation handbook. (8) Reflects size premium for companies with market capitalizations between ~$1,306mm and ~$2,165mm per Duff & Phelps 2022 valuation handbook. (9) Peer Observed pre-tax cost of debt is based on the BB U.S. high-yield index effective yield per St. Louis Fed. RETURN Observed pre-tax cost of debt is based on yield to worst of RETURN’s senior notes due 2029. (10) WACC equals ((Debt / Capitalization * After-Tax Cost of Debt) + (Equity / Capitalization * Cost of Equity)). Market Debt Debt / Beta Company Cap ($mm) ($mm) Equity Levered(2) Unlevered(3) Owens Corning $8,748 $3,161 36% 1.46 1.15 Masonite 2,218 875 39% 1.61 1.24 JELD-WEN 2,049 1,756 86% 1.90 1.16 PGT Innovations 1,343 635 47% 1.54 1.14 American Woodmark 988 511 52% 1.64 1.18 75th Percentile 52% 1.64 1.18 Mean 52% 1.63 1.17 Median 47% 1.61 1.16 25th Percentile 39% 1.54 1.15 RETURN(1) $1,871 $3,081 165% 2.01 0.90 Peer RETURN Observed Observed Unlevered Beta(4) 1.16 0.90 Debt / Equity(4) 47% 165% Levered Beta(5) 1.566 2.010 Risk-Free Rate(6) 2.2% 2.2% Market Risk Premium(7) 7.5% 7.5% Market Size Premium(8) 1.3% 1.3% Cost of Equity 15.2% 18.6% Pre-Tax Cost Of Debt(9) 4.46% 6.90% Tax Rate 25.0% 25.0% After-Tax Cost Of Debt 3.3% 5.2% % Equity 67.9% 37.8% % Debt 32.1% 62.2% Estimated WACC(10) 11.4% 10.2% For Reference Only

Exhibit (c)(8)

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March 5, 2022 Presentation to the Board of Directors Project RETURN

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1 Disclaimer This presentation has been prepared by Centerview Partners LLC (“Centerview”) for use solely by the management and Special Committee of RETURN, Inc.(“RETURN”) in connection with its evaluation of a proposed transaction involving RETURN and for no other purpose. The information contained herein is based upon information supplied by or on behalf of RETURN and publicly available information, and portions of the information contained herein may be based upon statements, estimates and forecasts provided by RETURN. Centerview has relied upon the accuracy and completeness of the foregoing information, and has not assumed any responsibility for any independent verification of such information or for any independent evaluation or appraisal of any of the assets or liabilities (contingent or otherwise) of RETURN or any other entity, or concerning the solvency or fair value of RETURN or any other entity. With respect to financial forecasts, Centerview has assumed that such forecasts have been reasonably prepared on bases reflecting the best currently available estimates and judgments of the management of RETURN as to the future financial performance of RETURN, and at your direction Centerview has relied upon such forecasts, as provided by RETURN’s management, with respect to RETURN. Centerview assumes no responsibility for and expresses no view as to such forecasts or the assumptions on which they are based. The information set forth herein is based upon economic, monetary, market and other conditions as in effect on, and the information made available to us as of, the date hereof, unless indicated otherwise and Centerview assumes no obligation to update or otherwise revise these materials. The financial analysis in this presentation is complex and is not necessarily susceptible to a partial analysis or summary description. In performing this financial analysis, Centerview has considered the results of its analysis as a whole and did not necessarily attribute a particular weight to any particular portion of the analysis considered. Furthermore, selecting any portion of Centerview’s analysis, without considering the analysis as a whole, would create an incomplete view of the processunderlying its financial analysis. Centerview may have deemed various assumptions more or less probable than other assumptions, so the reference ranges resulting from any particular portion of theanalysis described above should not be taken to be Centerview’s view of the actual value of RETURN. These materials and the information contained herein are confidential, were not prepared with a view toward public disclosure, and may not be disclosed publicly or made available to third parties without the prior written consent of Centerview. These materials and any other advice, written or oral, rendered by Centervieware intended solely for the benefit and use of the management and Special Committee of RETURN (in its capacity as such) in its consideration of the proposed transaction, and are not for the benefit of, and do not convey any rights or remedies for any holder of securities of RETURN or any other person. Centerview will not be responsible for and has not provided any tax, accounting, actuarial, legal or other specialist advice. These materials are not intended to provide the sole basis for evaluating the proposed transaction, and this presentation does not represent a fairness opinion, recommendation, valuation or opinion of any kind, and is necessarily incomplete and should be viewed solely in conjunction with the oral presentation provided byCenterview.

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2 Review of Key Dates for the Special Committee . Oct. 13, 2021: Kick-off call to review process objectives and framework . Oct. 25, 2021: Strategic review of RETURN’s current market positioning, Management standalone plan and strategic alternatives; discussion of preliminary financial analysis of Management standalone plan . Nov. 2, 2021: Financial update call conducted by RETURN Management / Centerview with COPY . Nov. 12, 2021:COPY communicated to Centerview that they are prepared to consider exploring a transaction at an indicative valuation of $22.00 per share (29% implied spot premium(1)) and reiterated that they are not a seller; COPY also requested to engage with a limited number of financing sources and complete focused due diligence – Special Committee subsequently authorized COPY to discuss financing with Goldman and RBC – Special Committee also authorized Centerview to communicate to COPY that a non-binding indication of interest would be needed to assess further engagement . Nov. 22, 2021: COPY communicated to Centerview that they are prepared to consider a transaction at an indicative valuation of $23.00 per share; COPY confirmed their leverage assumptions with Goldman Sachs and RBC of 6x+ through HoldCo note – Special Committee subsequently authorized Centerview to communicate to COPY that the Special Committee would be unwilling to transact at $23.00 per share – Special Committee also instructed Management to create a single operating case to serve as the basis for analyses as the process progressed . Dec. 2, 2021: COPY requested business unit calls with the following attendees: Art Steinhafel and Jim Keppler (U.S. Windows); John Buckley and Jim Keppler (U.S. Siding); Philip Langlois (Canada); Matt Ackley and Jim Keppler (Commercial) . Dec. 3, 2021: RETURN’s CFO presented a Management Case to the Special Committee and subsequently shared the projections with Centerview (1) Based on RETURN’s closing share price of $17.04 as of November 12, 2021.

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3 Review of Key Dates for the Special Committee (Cont.) . Dec. 16, 2021: RETURN Management and COPY completed the requested business unit reviews; focus centered on the Management Plan, including underlying drivers, market context and operating synergies – COPY then requested follow-up materials as part of their ongoing review of value – Special Committee approved distribution of the requested follow-up materials on December 20, 2021 . Dec. 22, 2021: COPY communicated to Centerview that they are prepared to consider a transaction at an indicative valuation of $23.50 per share – COPY expressed concerns around specific assumptions in the projections shared by Management • Volume for Windows segment and materials pricing-cost spread for Commercial segment . Jan. 3, 2022: RETURN’s CFO provided the Special Committee with an update to the Management Plan . Jan. 19, 2022: COPY and COPY’s advisors were provided access to a virtual data room – Management and Centerview have since completed multiple requests related to COPY’s business, financial and operational due diligence . Feb. 3, 2022: RETURN’s CFO provided Centerview with an update to the Management Plan, which Centerview subsequently shared with COPY; update included the UCC acquisition and actual balance sheet figures as of December 31, 2021 . Feb. 7, 2022: COPY communicated to Centerview that they are prepared to consider a transaction at an indicative valuation of $24.50 per share . Feb. 7, 2022: Unusually high options trading reported in RETURN stock . Feb. 10, 2022: Bloomberg reports potential COPY offer . Feb. 10, 2022: Following communication with Centerview, COPY communicated to Centerview that they are prepared to consider a transaction at an indicative valuation of $24.65 per share

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4 Review of Key Dates for the Special Committee (Cont.) . Feb. 11, 2022: Centerview presented materials to the Special Committee that included an overview of COPY’s most recent indication of value ($24.65 per share) and Centerview’s updated preliminary financial analysis . Feb. 12, 2022: RETURN granted COPY a limited waiver of the standstill restrictions contained in the Stockholders Agreement, dated November 16, 2018 . Feb. 14, 2022: RETURN publicly announced receipt of a non-binding, best and final proposal from COPY to acquire all of the outstanding shares of common stock not owned by COPY for $24.65 in cash per share . Feb. 14, 2022: COPY filed a Schedule 13D/A and included a copy of the proposal letter as an exhibit – Proposal letter stated: “We would also like to take this opportunity to confirm that at this time we are only interested in acquiring all of the Common Stock not already owned by the CD&R Funds, and we are not interested in pursuing any potential alternative transaction.”

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5 Situation Update . Following the Special Committee meeting on February 11, several key workstreamswith regards to the proposal from COPY have been advanced, including: – Publicly announced receipt of COPY’s non-binding proposal on February 14, 2022 – Completed multiple requests related to COPY’s due diligence and financing process – Received a summary of the Sources & Uses and pro forma capitalization from COPY – Received feedback from shareholders regarding COPY’s proposal (please refer to pages 20-21) – Outlined the treatment of company equity awards – Prepared external communications in the event signing of the Merger Agreement were completed – Drafted and revised multiple transaction documents, including: • Merger Agreement • Voting and Support Agreement • Equity Commitment Letter • Limited Guarantee . After announcement, there were a number of strategic conversations . Today’s materials include an overview of the transaction and Centerview’s financial analysis – Where stated, implied premia and multiples herein reflect unaffected trading levels as of February 4, 2022 – the last day prior to speculation in the market regarding a take-private transaction of RETURN

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6 Strategic Outreach Summary Company Contact Position Notes Nucor Alex Hoffman General Manager, Business Development - Not interested Westlake Chemical Larry Schubert VP, Corporate Development & Sustainability - Engaged on outreach Mohawk Industries James Brunk CFO - Not interested LafargeHolcim Geraldine Picaud CFO - Not interested Carlisle Companies Kevin Zdimal CFO - Not interested Saint-Gobain Mark Rayfield CEO of North America & CertainTeed - Not interested CRH David Dillon EVP, Chief of Staff - Not interested

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7 Description . Parent to acquire 100% of Company common stock not owned by COPY and its affiliates via a reverse triangular merger . Parent to pay holders of Company stock not owned by COPY or its affiliates $24.65 per share in cash (other than to dissenting stockholders) . Approval of stockholders representing majority of the voting power of the outstanding stock and approval of stockholders representing a majority of the voting power of the outstanding stock owned by stockholders unaffiliated with COPY . Accuracy of each party’s representations and warranties and material compliance with covenants . Other customary conditions to closing of merger include receipt of HSR clearance and other required approvals, and absence of legal restraint . No financing condition to closing . No-shop with ability to negotiate with a third party that makes an unsolicited written Acquisition Proposal that the Company board (acting on recommendation of the Special Committee) or the Special Committee determines either constitutes or is reasonably likely to result in a Superior Proposal . Ability to make a Change of Recommendation and/or terminate merger agreement prior to the Requisite Company Stockholder Approvals in response to a Superior Proposal that Parent does not match following 4-business day notice and negotiation period with Parent . Company Termination Fee of $105mm if: (i) Agreement is terminated by Parent because of a Change of Recommendation; (ii) Agreement is terminated by the Company in order to accept a Superior Proposal and enter into a binding written definitive acquisition agreement with respect to such Superior Proposal; or (iii)(A) the Agreement is terminated either (1) by Parent or the Company if the Requisite Company Stockholder Approvals are not obtained or (2) by Parent because of a material breach by the Company of its covenants relating to Acquisition Proposals and board recommendations; and (B) (1) an Acquisition Proposal has been publicly made for 50% of the Company and not withdrawn prior to termination and (2) within 12 months after termination, the Company consummates a transaction contemplated by an Acquisition Proposal or enters into an alternative agreement . Parent Termination Fee of $210mm if: (i) Agreement is terminated by the Company (1) because of a breach by Parent of any representation, warranty, covenant or agreement in the Agreement or (2) prior to the Effective Time, the Marketing Period has ended and the conditions to closing have been satisfied or waived and Parent fails to effect the closing within 1 business day of the date that the closing is otherwise required to occur or (ii) Agreement is terminated because of the Outside Date and at such time the Company could have terminated the Agreement because of a breach by Parent . End Date of 6 months from signing of the agreement, with extension to [December 9, 2022] (date that is 20 business days after Q2 financials become stale) to obtain regulatory approvals or in connection with the debt financing’s Marketing Period . Governed by Delaware law Overview Consideration Termination Fee and Rights Deal Protection Key Conditions Other Note: Capitalized terms used hereinshall have the meanings assigned to them in the draft merger agreement. (1) Based on the 03/03/22 draft merger agreement. Summary of Key Transaction Terms(1)

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8 Table of Contents Section I …………………………………………………………………....Transaction Overview Section 2 …………………………………………………………Centerview’s Financial Analysis Appendix ………………………………………………………………...Supplementary Materials

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Transaction Overview 1

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10 Transaction Summary Consideration . $24.65 per share in cash Source: Management projections provided on February 3, 2022. Company filings and FactSet as of March 4, 2022 and February 4, 2022. Note: Dollars in millions, except per share amounts. (1) Reflects closing share price trading levels. (2) Based on pro forma capitalization as of June 30, 2022E per COPY. (3) Based on 127.0mm basic shares, 3.0mm stock options with a weighted average exercise price of $10.28, 1.9mm RSUs and 1.4mm PSUs. (4) Based on 127.0mm basic shares, 3.0mm stock options with a weighted average exercise price of $10.28, 1.9mm RSUs and 3.0mm PSUs. (5) RETURN balance sheet as of Dec. 31, 2021. Overview Financing . Indebtedness will be incurred by a Holdco above the RETURN credit group following the merger – RETURN’s outstanding debt would stay in place – $950mm of new senior secured notes – $725mm of new PIK HoldCo notes – $195mm of new cash equity – Net secured leverage of 4.1x(2) – Total net leverage of 5.6x(2) Summary Financials Unaffected COPY (as of 2/4/22) Proposal Implied Valuation Share Price $14.09 $24.65 % Premium to Unaffected Price – 74.9% Diluted Shares Outstanding 131.3 133.7 Equity Value $1,849 $3,297 Less: Cash(5) (394) (394) Plus: Debt(5) 3,081 3,081 Enterprise Value $4,535 $5,983 Implied Multiples Multiple: Metric: 2021A $721 6.3x 8.3x 2022E 750 6.1x 8.0x EV / EBITDA (February 3 Mgmt. Case) Implied Premia Market Data as of March 4, 2022 Current Share Price ($21.31) 15.7% Market Data as of Unaffected Date of February 4, 2022 Share Price ($14.09) 74.9% 30-Day VWAP ($15.94) 54.6% 90-Day VWAP ($15.59) 58.1% 1-Year VWAP ($13.89) 77.4% 52-Week High ($19.50) (1) 26.4% (3) (4)

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11 Source: FactSet as of February 4, 2022. Note: Closing share price and 30-day VWAP as of the date COPY communicated value for RETURN shares not owned, except for dates after February 4, 2022. (1) Reflects unaffected market data as of February 4, 2022. (2) Based on RETURN share price of $14.09 as of February 4, 2022. Summary of COPY’s Indications of Value For RETURN Shares Not Owned Evolution of Value Communicated by COPY Date of Received Indication Nov. 12, 2021 Nov. 22, 2021 Dec. 22, 2021 Feb. 7, 2022 Feb. 10, 2022 Value Communicated (per share) 1-Day Spot Price $17.04 $17.23 $16.14 $14.09 $14.09 30-Day VWAP $14.84 $15.36 $16.22 $15.94 $15.94 % Premium to 1-Day Spot Price 29.1% 33.5% 45.6% 73.9% 74.9% % Premium to 30-Day VWAP 48.3% 49.8% 44.9% 53.7% 54.6% % Premium to Unaffected Price (2) 56.1% 63.2% 66.8% 73.9% 74.9% % Change to Initial Indication -- +4.5% +6.8% +11.4% +12.0% % Change to Previous Indication -- +4.5% +2.2% +4.3% +0.6% RETURN Trading Implied Premium Change in Indication $22.00 $23.00 $23.50 $24.50 $24.65 Communicated after irregular trading activity on Feb. 7, 2022 – below reflects market data as of Feb. 4, 2022 (1) (1) (1) (1)

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12 $0 $5 $10 $15 $20 $25 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20 Mar-21 RETURN’s Historical Share Price Performance Source: FactSet as of February 4, 2022 and March 4, 2022. Note: Unaffected price reflects share price as of February 4, 2022. (1) Reflects closing share price trading levels. $12.35 Current: $21.31 Jul. 17, 2018: NCI and Ply Gem announced merger Nov. 16, 2018: NCI and Ply Gem merger closed RETURN’s Share Price Performance (Last 10 Years) Implied Premia Share Price per COPY Proposal $24.65 vs. Current ($21.31) 15.7% (Market Data as of Unaffected Date of 2/4/22) vs. Unaffected ($14.09) 74.9% vs. 30-Day VWAP ($15.94) 54.6% vs. 90-Day VWAP ($15.59) 58.1% vs. 1-Year VWAP ($13.89) 77.4% vs. 52-Week High ($19.50) 26.4% vs. 52-Week Low ($11.10) 122.1% vs. 10-Year High ($23.00) 7.2% (1) (1) COPY Proposal: $24.65 Feb. 19, 2020: Pre-COVID trading Feb. 10, 2022: Bloomberg reports potential COPY offer Feb. 7, 2022: Unusually high options trading reported in RETURN stock 2/4/22 Unaffected: $14.09 +14% (1) Feb. 14, 2022: RETURN files 8-K acknowledging receipt of proposal from COPY Sept. 8, 2014: NCI reports Q3’14 results Sept. 4, 2013: NCI reports Q3’13 results Mar-22

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Centerview’s Financial Analysis 2

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14 Source: FactSet as of February 4, 2022 and March 4, 2022. (1) Based on RETURN’s unaffected share price of $14.09 as of February 4, 2022, unaffected 30-day VWAP of $15.94 and unaffected 52-week high of $19.50. . Selected publicly-traded comparable companies in the building products sector . Valuation multiples based on Enterprise Value / CY 2022E EBITDA . Multiples applied to RETURN’s 2022E EBITDA per RETURN February 3 Management Case . Based on RETURN February 3 Management Case . Perpetuity growth rate of 1.75% - 2.50% . Weighted average cost of capital (“WACC”) range of 10.0% - 12.5% . Selected precedent M&A transactions in the building products sector – Includes transactions completed with U.S. targets in the last 5 years (deal size greater than $1bn) . Multiples applied to RETURN’s LTM EBITDA as of December 31, 2021 . RETURN’s closing share price trading levels over the 52 weeks prior to the unaffected date of February 4, 2022 52-Week Trading Range Selected Precedent Transactions Analysis Discounted Cash Flow (DCF) Analysis . Range of Wall Street analyst price targets for RETURN as of: – Unaffected date of February 4, 2022 – March 4, 2022 including updates after COPY’s Schedule 13D/A filing on February 14, 2022 Analyst Price Targets Selected Public Comparables Analysis Premia Paid Analysis . Range of premia paid on selected take-private transactions – Includes transactions completed with U.S. targets in the last 10 years (deal size of $1bn - $10bn) . Premia applied to RETURN’s unaffected share price, 30-day VWAP and 52-week high(1) Overview of Centerview’s Financial Analysis

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15 $10.75 $25.75 $20.50 $11.10 $19.00 $24.65 $16.50 $18.00 $18.00 $19.25 $39.00 $35.50 $19.50 $27.00 $27.00 $20.00 $21.50 $21.75 – $10.00 $20.00 $30.00 $40.00 Source: Wall Street research, Management projections provided on February 3, 2022, and FactSet as of February 4, 2022 for RETURN market data and March 4, 2022 for selected public comparables market data. Note: Dollars in millions, except per share figures. Implied share prices rounded to the nearest $0.25. Unaffected market data as of February 4, 2022. EBITDA is unburdened for stock-based compensation. (1) Implied share price calculated as implied enterprise value less $2.7bn of net debt, consisting of $3.1bn of debt and $0.4bn of cash as of Dec. 31, 2021, divided by fully diluted shares outstanding. Fully diluted shares outstanding based on 127.0mm basic shares, 3.0mm stock options with a weighted average exercise price of $10.28, 1.9mm RSUs and 3.0mm PSUs. 52-Week Trading Range Selected Public Comparables Selected Precedent Transactions Implied Share Price(1) LTM (as of 12/31/21) LTM EBITDA: $721mm Multiple: 8.5x - 11.0x February 3 Mgmt. Case WACC: 10.0% - 12.5% PGR: 1.75% - 2.50% Closing Price Unaffected Low - High February 3 Mgmt. Case 2022E EBITDA: $750mm Multiple: 5.5x - 7.0x Unaffected Price as of 2/4/22: $14.09 Analyst Price Targets Price Target (as of 2/4/22) Low - High DCF Analysis Premia Paid Analysis Implied Price Unaffected Share Price: $14.09 Premium: 16.7% - 42.2% COPY Proposal on 2/13/22: $24.65 Summary Financial Analysis Implied Price Unaffected 30-Day VWAP: $15.94 Premium: 12.8% - 33.8% Implied Price Unaffected 52-Week High: $19.50 Premium: (7.9%) - 12.0% For Reference Only Price Target (as of 3/4/22) Low - High

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16 Selected Public Trading Comparables Source: Company filings and FactSet as of February 4, 2022 for RETURN market data and March 4, 2022 for selected public comparables market data. Note: Dollars in billions. EBITDA is unburdened for stock-based compensation. All figures are based on RETURN fiscal year ending December 31. Companies sorted by equity value. Net leverage based on LTM EBITDA and balance sheet figures as of December 31, 2021. (1) Reflects unaffected market data as of February 4, 2022. Revenue EBITDA EBITDA Net Equity Enterprise EV / EBITDA Growth Growth Margin Leverage Company Value Value 2022E '21A - '22E '21A - '22E 2022E LTM Owens Corning $8.7 $10.9 5.1x 8% 9% 23% 1.1x Masonite 2.2 2.7 5.9x 8% 11% 16% 1.2x JELD-WEN 2.0 3.4 6.4x 8% 15% 10% 2.9x PGT Innovations 1.3 1.9 8.2x 21% 35% 16% 3.2x American Woodmark 1.0 1.5 8.0x 8% 12% 10% 3.1x Median $2.0 $2.7 6.4x 8% 12% 16% 2.9x RETURN (Feb. 3 Mgmt. Case)(1) $1.8 $4.5 6.1x 12% 4% 12% 3.7x

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17 Target EV / LTM Public Co. Target's LTM Financials Memo: Implied Premia Date Acquiror Company EV Sales EBITDA Target Sales EBITDA Margin 1-Day Prior 30-Day VWAP 7/19/21 Carlisle Companies Henry $1,575 3.1x 13.2x -- $511 $119 23.3% -- -- 6/20/21 Westlake Chemical Boral's N.A. Building Products 2,150 2.0x ~10.4x -- 1,100 ~206 ~19.0% -- -- 6/7/21 Nucor Cornerstone's Insulated Metal Panels 1,000 2.6x 13.3x -- 389 75 19.3% -- -- 11/15/19 ACPI Masco Cabinetry 1,000 1.1x 9.8x -- 950 102 10.7% -- -- 11/12/19 Saint-Gobain Continental Building Products 1,434 2.8x 10.4x x 514 138 26.8% +16% +27% 7/17/18 NCI Ply Gem 3,700 1.4x 10.9x -- 2,649 341 12.9% -- -- 1/31/18 CD&R Ply Gem 2,400 1.2x 9.7x x 2,056 246 12.0% +20% +18% 12/1/17 American Woodmark RSI Home Products 1,075 1.9x 8.7x -- 560 123 22.0% -- -- Median 1.9x 10.4x 19% Mean 2.0x 10.8x 18% Source: Company press releases, news articles, Wall Street research, CapIQ and FactSet. Note: EBITDA is unburdened for stock-based compensation. Transaction multiples represent approximate figures due to lack of disclosures. Multiples are on LTM basis unless otherwise noted. (1) Reflects midpoint of Westlake’s disclosure on acquisition call. Stock-based compensation reflects segment’s sales contribution. (2) Represents FY’18A figures. Stock-based compensation reflects segment’s sales contribution. (3) Represents FY’18E figures per merger proxy. Assumes stock-based compensation reflects FY’17A stock-based compensation as a percentage of FY’17A sales. Selected acquisitions of U.S. building products companies over the last 5 years with a deal size greater than $1bn (2) (1) (2) (2) (2) Selected Precedent Transactions (1) (3) (3) (3) (3)

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18 Discounted Cash Flow Analysis – February 3 Management Case Source: Management projections provided on February 3, 2022. Note: Dollars in millions, except per share items. Implied share prices rounded to nearest $0.25. (1) Adjusted EBITDA includes stock-based compensation as a cash expense. (2) Terminal year assumes D&A equal to CapEx going forward. (3) Implied terminal multiples based on adjusted EBITDA unburdened for stock-based compensation. Unlevered Free Cash Flow Build Terminal ($ in millions) 2022E 2023E 2024E 2025E 2026E Year Revenue $6,428 $6,766 $6,778 $6,857 $7,175 $7,175 % Growth 12% 5% 0% 1% 5% Adj. EBITDA (less: SBC)(1) $730 $833 $859 $893 $972 $972 % Margin 11% 12% 13% 13% 14% 14% (Less): D&A(2) (276) (252) (227) (203) (179) (179) EBIT $453 $581 $632 $690 $793 $793 (Less): Taxes (136) (174) (190) (207) (238) (238) NOPAT $317 $407 $442 $483 $555 $555 Plus: D&A(2) 276 252 227 203 179 179 Plus / (Less): Change in NWC 199 9 65 54 28 21 (Less): CapEx (161) (169) (169) (171) (179) (179) Plus: Cash Settlement (tax adj.) 53 -- -- -- -- -- Unlevered Free Cash Flow $684 $499 $565 $569 $582 $575 Implied Share Price Implied Terminal Multiple(3) Discount Perpetuity Growth Rate Rate 1.75% 2.13% 2.50% 10.00% $31.75 $33.50 $35.50 11.25% 25.25 26.50 28.00 12.50% 20.50 21.25 22.25 Discount Perpetuity Growth Rate Rate 1.75% 2.13% 2.50% 10.00% 7.2x 7.5x 7.9x 11.25% 6.2x 6.5x 6.8x 12.50% 5.5x 5.7x 5.9x

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Appendix Supplementary Materials

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20 Shareholder Feedback Received by Management “In summary, we view the $24.65 cash offer from Clayton, Dubilier & Rice, LLC (“CD&R”) favorably. While we obviously lack complete information in terms of other conditions related to the offer and other relevant details, from a value standpoint we believe this offer is within the realm of fair value. If CD&R is unable to elicit a higher bid, we believe a well-advised Special Committee would put this offer to shareholders, subject to CD&R’s commitment that any transaction be approved by a majority of the unaffiliated shareholders. As a matter of good corporate governance, we believe in such situations unaffiliated shareholders should make the final decision.” Andrew Friedman February 18, 2022 “Since our conversation, The Kempen Global Value fund has become a shareholder of Cornerstone Building Brands. In general, we feel very good about Cornerstone’s operational performance in the last few years which has led to strong EBITDA growth since the merger of Ply Gem Building Products and NCI Building Systems. We believe that Cornerstone is extremely well positioned to benefit from the current high demand in both the residential and commercial end-markets. I am emailing you in relation to today’s decision to cancel your Q4 conference call and to delay the publishing of your financial results. I appreciate that CNR’s board of directors is taking its fiduciary responsibility seriously by forming a Special Committee to consider CD&R’s unsolicited bid for CNR. However, since their offer doesn’t come close to what we consider fair value of CNR, we believe it is a mistake to let this bid disrupt the ordinary course of business. Even more so given that the proposal is non-binding and does not contain any customary break-up fee. We believe that a process in which all strategic alternatives are considered could yield a result th at is far more favorable for minority shareholders than CD&R’s bid. For that reason, we are surprised that you have chosen to cancel the earnings call. I believe that the timely release of CNR’s financial performance and an earnings call in which questions can be openly addressed is important to allow your shareholders to make an informed decision. I understand that your recently formed Special Committee has not made any recommendation yet. I think it’s a mistake to operate under the assumption that CNR will be sold at the current price of $24.65 / share.” Roderick van Zuylen February 18, 2022 Global Value Fund

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21 Shareholder Feedback Received by Management (Cont’d) (1) Peers defined as JELD, DOOR, MHK, OC, & BLDR. (2) Letter, dated February 13, 2022 from the Sponsor to the Special Committee. (3) Limited Waiver, dated February 12, 2022. “Boussard & Gavaudan Investment Management LLP, Boussard & Gavaudan Asset Management, LP and Boussard & Gavaudan Gestion SAS (“Boussard & Gavaudan” or “we”) advise investment funds who collectively own 224,141 shares of Cornerstone Building Brands (“CNR”). We write to share our view on the February 13, 2022 take-private proposal (the “Proposal”) from Clayton, Dubilier & Rice, LLC (“CD&R”). We believe that the Proposal should be approved and recommended by the Special Committee and the parties should promptly move to negotiating and executing a mutually acceptable definitive agreement. Our position is based on the following considerations: Attractive Valuation Relative to History & Peers. The $24.65 per share best and final consideration represents a 75% premium to the February 4, 2022 unaffected closing price, a 55% premium to the trailing 30 day VWAP and a 7% premium to the post-Great Financial Crisis high of $23.00 on June 8, 2018. Moreover, the Proposal represents 8.5x LTM adj. EBITDA, a significant premium to the CNR post-COVID average historical multiple (~6.5x) and the current average peer multiple(1) (~7.0x). On 2022E consensus EBITDA, the price represents a significant premium at 7.3x vs a 6.5x peer average, particularly considering CNR recently trading near the bottom of peer valuations. Exploratory Discussions have resulted in a Proposal “significantly increased in value.” The Proposal and the Limited Waiver from the Stockholders Agreement (“Limited Waiver”) reference communications between the parties regarding valuation and price that has resulted in a Proposal which “has significantly increased in value since the outset of our exploratory discussions”(2) at a “price per share not less than the amount recently discussed by the CD&R Investors with representatives of the Special Committee.”(3) Clearly the exploratory discussions have reached the stage of an explicit price being discussed and the Special Committee feeling comfortable providing the Limited Waiver at that price. We believe it would be inconsistent for the Special Committee to grant the Limited Waiver based on one price but to subsequently not recommend a potential transaction at the same price. The Proposal Gives Shareholders the Right to Decide. As stated in the proposal letter to the Special Committee, CD&R has made its Proposal expressly conditioned on majority approval of non-CD&R affiliated shareholders. We support this condition as an important protection for non-CD&R shareholders. As such, we believe that the Special Committee can feel confident that by approving the Proposal they are not themselves determining the outcome, but instead letting non-CD&R affiliated shareholders dictate whether they believe the Proposal is acceptable versus continuing to execute as a public company.” Emmanuel Gavaudan February 28, 2022 Millennium Management and Pretium Credit Management conveyed to RETURN Management that: • Not providing guidance and restricting conversations imped the ability for investors to invest in the stock • It has been several weeks since the announcement without an update. Concerned that the Special Committee is not and will have the appearance that they are acting without urgency • Commented that the stock price reflects risk that the proposal will be rejected, both feel it is a fair offer Millennium Management and Pretium Credit Management March 4, 2022

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22 Fiscal Year Ending December 31, 2021A 2022E 2023E 2024E 2025E 2026E Net Sales $5,746 $6,428 $6,766 $6,778 $6,857 $7,175 % Growth 23% 12% 5% 0% 1% 5% Gross Profit $1,238 $1,330 $1,490 $1,558 $1,652 $1,805 % Margin 22% 21% 22% 23% 24% 25% Operating Income $332 $451 $579 $630 $688 $791 % Margin 6% 7% 9% 9% 10% 11% Net Income $52 $262 $319 $383 $440 $528 % Margin 1% 4% 5% 6% 6% 7% Diluted Earnings per Share $0.41 $2.06 $2.52 $3.02 $3.47 $4.16 Adjusted EBITDA $721 $750 $853 $879 $913 $992 % Margin 13% 12% 13% 13% 13% 14% Unlevered Free Cash Flow(2) $70 $684 $499 $565 $569 $582 % Margin 1% 11% 7% 8% 8% 8% Source: Management projections provided on February 3, 2022. Note: Dollars in millions, except per share figures. EBITDA is unburdened for stock-based compensation. (1) Excludes $831mm gain on sale of IMP and DBCI business units. (2) Includes stock-based compensation as an expense. (3) Includes a $75mm payment from a settlement agreement filed on August 25, 2021 between parties to a class action complaint filed on November 14, 2018. The settlement remains subject to court approval. RETURN’s counsel believes that the likelihood of approval of the settlement is over 95%. (3) RETURN February 3 Management Case Summary (1) (1) (1)

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23 Unaffected Historical Multiples L5Y L3Y LTM Mean Mean Mean Current RETURN 7.1x 6.9x 6.8x 6.1x Peers 8.0x 7.8x 7.8x 6.6x Δ vs. Peers (0.9x) (0.8x) (0.9x) (0.6x) 4.0x 6.0x 8.0x 10.0x 12.0x Feb-17 Feb-18 Feb-19 Feb-20 Feb-21 $0 $5 $10 $15 $20 $25 $30 $35 Feb-17 Feb-18 Feb-19 Feb-20 Feb-21 Feb-22 Historical Unaffected Trading and Valuation – RETURN vs. Peers Source: FactSet and Wall Street research as of February 4, 2022. Note: EBITDA is unburdened for stock-based compensation. Peers consist of American Woodmark, Jeld-Wen, Masonite International, Owens Corning and PGT Innovations. Valuation (EV / NTM EBITDA) 6.1x 6.6x 7.8x 7.4x Unaffected: $14.09 (12%) COPY Proposal: $24.65 +36% Share Price Performance Peer Group Mean RETURN Δ vs. Peers Δ: 0.5x Δ: (0.6x) Unaffected Historical Returns L5Y L3Y LTM RETURN (12%) +69% +21% Peers +36% +49% (10%) Feb-22

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24 Premia Paid Analysis – Go-Private and All-Cash Transactions Premiums paid in precedent transactions Source: FactSet as of February 4, 2022. Note: Includes complete and pending transactions. Excludes finance, real estate and insurance targets, as well as transactions with premiums greater than 200%. (1) Premium to unaffected share price for go-privates over the last 10 years involving U.S. public companies $1-10bn in transaction value. (2) Premium to unaffected share price for all-cash transactions over the last 10 years involving U.S. public companies $1-10bn in transaction value. (3) Based on RETURN’s unaffected share price of $14.09 as of February 4, 2022. (4) Represents implied share prices based on RETURN’s unaffected 52-week high share price of $19.50 and related 25 th and 75th percentile premiums for precedent transactions. (5) Represents implied share prices based on RETURN’s unaffected 30-day VWAP of $15.94 and related 25th and 75th percentile premiums for precedent transactions. Go-Private Premiums(1) All-Cash Premiums(2) Implied RETURN Unaffected Share Price(3) $16.45 $17.88 $18.45 $20.03 $22.37 Implied RETURN Unaffected Share Price(3) $16.75 $18.37 $19.52 $21.31 $24.39 16.7% 26.9% 30.9% 42.2% 58.8% 25th Percentile Median Mean 75th Percentile 90th Percentile 18.9% 30.3% 38.6% 51.2% 73.1% 25th Percentile Median Mean 75th Percentile 90th Percentile $17.96 $21.83 $18.08 $21.45 $23.59 $23.38 $19.36 $19.09 52-Week High(4) Unaffected 30-Day VWAP(5) Below reflects premium to one-day unaffected spot price Below reflects premium to one-day unaffected spot price Reflects 25th and 75th percentile premia to 52-week high Reflects 25th and 75th percentile premia to 52-week high Reflects 25th and 75th percentile premia to unaffected 30-day VWAP Reflects 25th and 75th percentile premia to unaffected 30-day VWAP

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25 Outlook Operating Metrics As of Feb. 4, 2022 (Unaffected) Updates After Feb. 4, 2022 2022E '21A-'22E EV / 2022E EV / 2022E 2022E 2022E EBITDA EBITDA Broker Price Target Rating EBITDA Price Target Rating EBITDA Revenue EBITDA Margin Growth $27.00 Buy NA –– –– –– $6,118 $768 12.6% 9.6% 25.00 Buy 7.7x –– Hold –– 6,109 748 12.2% 9.4% 23.00 Buy 7.0x $24.65 Hold –– 6,119 767 12.5% 9.6% 19.00 Hold 7.0x 25.00 –– 7.6x 5,706 763 13.4% 2.2% Median $24.00 7.6x $25.00 7.6x $6,113 $765 12.5% 9.5% – $10.00 $20.00 $30.00 Feb-20 Aug-20 Feb-21 Aug-21 Feb-22 Analyst Perspectives on RETURN RETURN Analyst Sentiment Over Time Buy Hold Sell RETURN Share Price Median Price Target $24.00(1) $14.09(1) Source: Wall Street research as of February 4, 2022 and March 4, 2022. (1) Based on RETURN’s unaffected date of February 4, 2022. (1)

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26 Debt / Unlevered Beta Equity 1.00 1.05 1.10 1.15 1.20 1.25 10% 10.8% 11.2% 11.6% 11.9% 12.3% 12.7% 20% 10.7% 11.0% 11.4% 11.7% 12.1% 12.5% 30% 10.5% 10.9% 11.2% 11.6% 11.9% 12.3% 40% 10.4% 10.8% 11.1% 11.5% 11.8% 12.2% 50% 10.3% 10.7% 11.0% 11.4% 11.7% 12.0% 60% 10.2% 10.6% 10.9% 11.3% 11.6% 11.9% Weighted Average Cost of Capital Analysis – RETURN Selected Public Companies Illustrative WACC IllustrativeWACC Sensitivity Source: Public company filings, Wall Street research, Bloomberg, S&P Capital IQ and FactSet as of March 4, 2022. Note: Dollars in millions. Companies sorted by market capitalization. (1) Reflects unaffected market data as of February 4, 2022. (2) Represents adjusted two-year weekly beta relative to S&P 500. (3) Unlevered Beta equals (Levered Beta / (1 + (1 - Tax Rate) * (Debt / Equity)). Tax rate used is 25%. (4) Reflects median for Peer Observed. (5) Levered Beta equals (Unlevered Beta * (1 + (1 - Tax Rate) * (Debt / Equity)). Tax rate used is 25%. (6) Reflects yield on 20-year U.S. Treasury. (7) Reflects U.S. long-horizon equity risk premium per Duff & Phelps 2022 valuation handbook. (8) Reflects size premium for companies with market capitalizations between ~$1,306mm and ~$2,165mm per Duff & Phelps 2022 valuation handbook. (9) Peer Observed pre-tax cost of debt is based on the BB U.S. high-yield index effective yield per St. Louis Fed. RETURN Observed pre-tax cost of debt is based on yield to worst of RETURN’s senior notes due 2029. (10) WACC equals ((Debt / Capitalization * After-Tax Cost of Debt) + (Equity / Capitalization * Cost of Equity)). Market Debt Debt / Beta Company Cap ($mm) ($mm) Equity Levered(2) Unlevered(3) Owens Corning $8,748 $3,161 36% 1.46 1.15 Masonite 2,218 875 39% 1.61 1.24 JELD-WEN 2,049 1,756 86% 1.90 1.16 PGT Innovations 1,343 635 47% 1.54 1.14 American Woodmark 988 511 52% 1.64 1.18 75th Percentile 52% 1.64 1.18 Mean 52% 1.63 1.17 Median 47% 1.61 1.16 25th Percentile 39% 1.54 1.15 RETURN(1) $1,871 $3,081 165% 2.01 0.90 Peer RETURN Observed Observed Unlevered Beta(4) 1.16 0.90 Debt / Equity(4) 47% 165% Levered Beta(5) 1.566 2.010 Risk-Free Rate(6) 2.2% 2.2% Market Risk Premium(7) 7.5% 7.5% Market Size Premium(8) 1.3% 1.3% Cost of Equity 15.2% 18.6% Pre-Tax Cost Of Debt(9) 4.46% 6.90% Tax Rate 25.0% 25.0% After-Tax Cost Of Debt 3.3% 5.2% % Equity 67.9% 37.8% % Debt 32.1% 62.2% Estimated WACC(10) 11.4% 10.2% For Reference Only