Owens Corning: Owens Corning : Sustainability Report (2024 Owens Corning Sustainability Report)

2 0 2 4 S U S T A I N A B I L I T Y R E P O R T TABLE OF CONTENTS INTRODUCTION 3 A Message From Our CEO & CSO 4 About Owens Corning 6 Stakeholder Engagement & Material 11 Sustainability Topics Board Leadership 18 Risk Management 24 Upholding Ethical Standards 30 Environmental Management & Compliance 39 Total Productive Maintenance 44 PEOPLE 54 Safer Together 55 Health & Wellness 79 Employee Experience 95 Inclusion & Diversity 113 Community Engagement 127 Safeguarding Human Rights 147 PURPOSE 157 Responsible Supply Chain 158 Product Stewardship 175 Product Innovation 178 Product Transparency 181 Circular Economy 186 Leadership & Advocacy 197 Sustainable Growth 202 PLANET 211 Energy Efficiency & Sourcing Renewable Energy 212 Combating Climate Change 223 Waste Management 241 Responsible Water Sourcing & Consumption 252 Air Quality Management 266 Protecting Biodiversity 277 APPENDICES 291 A. About the Report 292 B. Workforce Data 297 C. Environmental Data 314 D. General Disclosures 338 E. TCFD Climate Risks & Opportunities 352 F. TCFD Index 360 G. SASB Index 362 H. GRI Index 363 I. United Nations Sustainable Development Goals (SDGs) 375 J. Assurance Statement 380 In February 2024, Owens Corning announced that the company decided to review strategic alternatives for its global glass reinforcements (GR) business. The decision to explore alternatives for the GR business is consistent with the company's strategy to focus on building and construction materials. On February 13, 2025, the company entered into a definitive agreement for the sale of our global glass reinforcements business. The sale will complete Owens Corning's review of strategic alternatives for the business, announced on February 9, 2024, and aligns with the strategy to reshape the company to focus on residential and commercial building products in North America and Europe. The transaction is expected to close in 2025 and is subject to customary regulatory approvals and other conditions. This report was designed prior to the definitive agreement and all data for our glass reinforcements business is included throughout the report. INTRODUCTION PEOPLE PURPOSE PLANET APPENDICES TABLE OF CONTENTS  2  INTRODUCTION A Message From Our CEO & CSO 4 About Owens Corning 6 Stakeholder Engagement & 11 Material Sustainability Topics Board Leadership 18 Risk Management 24 Upholding Ethical Standards 30 Environmental Management & Compliance 39 Artwork created and submitted by: Total Productive Maintenance 44 Liesbeth Beckers | Tessenderlo, Belgium A MESSAGE FROM OUR CEO & CSO The theme of our Sustainability Report - Building Better Together - reflects the work of our team in delivering a transformative year for Owens Corning in 2024. We successfully executed major strategic initiatives to reshape and focus the company on building products in North America and Europe and announced several capital investments to drive growth. At the same time, our colleagues drove breakthroughs in performance across several sustainability measures, including employee safety, greenhouse gas emissions, and waste-to-landfill. Senior Vice President and Chief Sustainability Officer (CSO) David Rabuano (left) and CEO Brian Chambers. INTRODUCTION PEOPLE PURPOSE PLANET APPENDICES INTRODUCTION | CEO & CSO LETTER: 2024 IN REVIEW  4  Transformation Guided by Our Mission The three strategic initiatives executed last year touched nearly every part of our company. These strategic moves included: Acquiring Masonite International Corporation Entering an agreement for the sale of our building materials business in China and Korea Initiating a strategic review of our glass reinforcements business, and announcing the sale of this business in early 2025 The acquisition of Masonite added a market leading Doors business to our company. The addition of Doors is not only a significant expansion of our leadership in branded residential building products, but also a powerful opportunity to advance our commitment to sustainability in a new product category. In addition to these strategic moves, Owens Corning announced several capital investments to grow capacity in Roofing and Insulation in the United States. And in Europe, we continued to make progress toward converting our mineral wool insulation plant in Sweden from coke-fired furnaces to electric melting. While 2024 was a transformative year for our company, we were guided by our mission "to build a sustainable future through material innovation". Our mission leverages the dual meaning of several terms. "Build" refers to the literal application of our products as well as the future we are building. "Sustainable" references both the enduring and responsible meanings of the word to describe our future-oriented activities. And "material" speaks to both the importance of our innovation efforts, as well as the way we literally innovate materials to create valued product solutions. INTRODUCTION PEOPLE PURPOSE PLANET APPENDICES Achieving Breakthrough Results Thanks to the hard work of our 25,000 colleagues, we achieved another year of breakthrough results in 2024. Driven by our Safer Together Operating Framework and our care for one another, we reduced recordable injuries and illnesses by 25 percent across our Owens Corning legacy sites, and our Doors business reduced recordable injuries and illnesses by 29 percent from the close of the acquisition in May to the end of the year. While we transformed and grew our company, and worked safer together, we also reduced the environmental impact of our operations. 2024 marked another significant achievement in our waste-to-landfill performance, with an 11 percent year-over-year reduction. Additionally, we reduced scope 1 and 2 greenhouse gas emissions by 11 percent, moving us to a 43 percent reduction compared to our 2018 baseline. This progress puts our 50 percent reduction goal by 2030 well within reach. Building Better Together Looking ahead, we will continue to grow our company by delivering exceptional building products and services for our customers, driving shareholder value, and working to make the world a better place. 2025 will stand as a milestone in our journey toward our 2030 sustainability goals, showcasing our ongoing commitment to progress and innovation. As we look to the future, we want to recognize that our achievements and future opportunities are made possible by the care, commitment, and hard work of our colleagues. Every day, they strive to help Owens Corning, and our customers, build better together. Brian Chambers David Rabuano Chair and Chief Executive Officer Senior Vice President and Chief Sustainability Officer INTRODUCTION | CEO & CSO LETTER: 2024 IN REVIEW  5  ABOUT OWENS CORNING Owens Corning is a residential and commercial building products leader committed to building a sustainable future through material innovation. Our businesses provide durable, sustainable, energy-efficient solutions that leverage our unique enterprise capabilities, market-leading positions, and consistent execution to help our customers win and grow. We are global in scope, human in scale with more than 25,000 employees in 31 countries dedicated to generating value for our customers and shareholders and making a difference in the communities where we work and live. Photo submitted by: Nathaniel Bauer | Denver, Colorado, U.S. Owens Corning world headquarters, Toledo, Ohio, U.S.  6  INTRODUCTION PEOPLE PURPOSE PLANET APPENDICES INTRODUCTION | ABOUT OWENS CORNING Across the enterprise we are guided by the following principles: OUR MISSION To build a sustainable future through material innovation. OUR PURPOSE Our people and products make the world a better place. OUR VALUES Global in scope, human in scale. Caring We keep each other safe and healthy. We offer an inclusive environment where diverse perspectives are valued and appreciated. We actively support our communities and protect our environment. Curious We challenge the status quo for greater impact and innovation. We listen and learn from one another's different skill sets and experiences. We relentlessly pursue solutions that exceed customer expectations. Collaborative We work together in an open, transparent, and respectful way. We foster highly connected teams across the global enterprise. We partner with our customers and other stakeholders to drive the best outcomes. Committed We are accountable to deliver financial and operational results that outperform the market. We empower our people to make decisions and act like owners. We remain resilient to achieve our goals and best serve our purpose. An employee at our plant in Fort Smith, Arkansas, U.S. INTRODUCTION PEOPLE PURPOSE PLANET APPENDICES INTRODUCTION | ABOUT OWENS CORNING  7  OWENS CORNING BUSINESS SEGMENTS Roofing Roofing products and systems help protect and preserve homes and commercial buildings while enhancing curb appeal. Our primary products in this segment are laminate and strip asphalt roofing shingles. Additional products in this segment include roofing components and oxidized asphalt. Owens Corning shingles and roofing components are sold mainly through distributors, home centers, and lumberyards in the U.S., while oxidized asphalt is a significant input used in the production of our roofing shingles. We are vertically integrated and have manufacturing facilities that process asphalt for use in our roofing shingle manufacturing. In addition, we sell processed asphalt to other shingle manufacturers, to contractors for built-up roofing asphalt systems, and to manufacturers in other industries such as automotive, chemical, rubber, and construction. Insulation Insulation products help conserve energy while improving acoustics and fire resistance in the places where we work, live, and play. Our insulation segment includes a diverse portfolio of high-, mid-, and low-temperature products; a market mix of residential, commercial, industrial, and other markets; and a channel mix of retail, con