Masonite International Corporation Announces 2030 ESG Goals and Releases 2021 Report

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TAMPA, Florida–(BUSINESS WIRE)–Masonite International Society (NYSE: DOOR), a leading global designer, manufacturer, marketer and distributor of interior and exterior doors, today announced the company’s ESG 2030 Vision for “Renewed Responsibility” and released its report 2021 on the environment, social and governance (ESG). The report highlights Masonite’s progress in 2021 and details its ambition to build a legacy that gives back to the environment, its employees, communities, partners and customers.

The Masonite 2030 Renewed Responsibility Goals are:

Take care of the environment

  • 100% responsibly sourced wood

  • Set a carbon reduction target over the next two years aligned with the latest climate science

Uplifting Employees and Communities

Innovate sustainably

  • Achieve an annual reduction of “substances of concern” in products and processes

  • Integrate circular economy principles into product and process design

“Since our founding nearly 100 years ago, doing well by doing good has been at the heart of everything we do,” said Howard Heckes, President and CEO. “Our Renewed Responsibility goals demonstrate our commitment to a culture that embeds ESG across the business. As we look to our next century at Masonite, our ambition is to minimize our impact on natural resources, create safe, equitable and inclusive environments for all stakeholders, and integrate sustainability into development and delivery of our products as we create life and life. better through doors that do moreMT.”

Highlights of Masonite’s ESG progress in 2021 include:

  • 12% reduction in greenhouse gas emissions since 2019

  • Completed energy efficiency projects estimated to save over 12 million kWh per year

  • Launch of nine Diversity, Equity and Inclusion affinity groups

  • Launch of Goal-Based Community Grants Program “We Help People Walk Through Walls”

  • Appointment of Clare Doyle as Director of Sustainable Development

To learn more about Masonite’s 2030 Renewed Responsibility Vision and progress made in 2021, view the full report on masonite.com/esg.

ABOUT MASONITE

Masonite International Corporation is a world leader in the design, manufacture, marketing and distribution of interior and exterior doors for the new construction and repair, renovation and remodeling sectors of the residential construction markets. residential and non-residential buildings. Since 1925, Masonite has been offering customers innovative products and superior service at compelling values. Masonite currently serves more than 7,000 customers worldwide. Additional information about Masonite is available at masonite.com.

FORWARD-LOOKING STATEMENTS

This press release and the ESG Report may contain forward-looking information and other forward-looking statements within the meaning of applicable Canadian and/or U.S. securities laws, including our discussion of our plans to integrate ESG priorities into our investment processes. business, develop a carbon reduction roadmap strategy and associated objectives, integrate climate risk into our activities, reduce our consumption of natural resources, increase the diversity of our supplier spend, develop a sustainable supply chain, improve our safety measures and programs, continue to build a diverse and inclusive workforce, improve our benefits, develop new products, reduce chemical hazards in our processes and products, certify to quality management standards, and achieve the benefits of cost reduction projects. When used in this press release or in the report, these forward-looking statements can be identified by the use of words such as “may”, “could”, “might”, “should”, “should”, ” should”, “expect”, “believe”, “outlook”, “predict”, “plan”, “aim”, “stay”, “anticipate”, “estimate”, “potential”, “continue”, “plan”, “project”, “targeting”, or the negative form of these terms or any other similar terminology. Forward-looking statements involve important known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Masonite, or the results of the industry, to differ materially from any plan, goal, target, objective, result, performance or achievements expressed or implied by these forward-looking statements. Accordingly, these forward-looking statements should not be construed as guarantees of future performance or results, should not be relied upon unduly, and will not necessarily be specific indications of whether or not such results will be achieved. Factors that could cause actual results to differ materially from the results discussed in the forward-looking statements include, but are not limited to, downward trends in our end markets and economic conditions; reduced levels of new residential construction; residential repair, renovation and remodeling; and non-residential building construction activity due to increases in mortgage rates, changes in mortgage interest deductions and related tax changes and reduced availability of financing; competition; the continued success of, and our ability to maintain relationships with, certain key customers in light of customer concentration and consolidation; our ability to accurately anticipate demand for our products; impacts on our business, including seasonality, weather and climate change; the scale and scope of the current coronavirus (“COVID-19”) pandemic and its impact on our operations, customer demand and supply chain; increase in raw material and fuel prices; tariffs and trade policy developments and frictions between the United States and other countries, including China, and the impact of anti-dumping and countervailing duties; increases in labor costs, labor availability or labor relations (ie disruptions, strikes or work stoppages); our ability to manage our operations, including potential disruptions, manufacturing realignments (including related restructuring charges) and customer credit risk; product liability claims and product recalls; our ability to generate sufficient cash flow to fund our capital expenditure requirements, to meet our pension obligations and to meet our debt service obligations, including our obligations under our senior and our asset-based revolving credit facility (“ABL Facility”); limitations on operating our business due to covenant restrictions under our current and future indebtedness, including our senior notes and ABL facility; fluctuations in exchange rates and interest rates; our ability to replace our expiring patents and innovate, keep pace with technological developments and successfully integrate acquisitions; the ongoing operation of our information technology and enterprise resource planning systems and the management of potential cybersecurity threats and attacks; political, economic and other risks arising from the operation of a multinational business; uncertainty linked to the United Kingdom’s exit from the European Union; retention of key management personnel; and environmental and other governmental regulations, including the United States Foreign Corrupt Practices Act (“FCPA”), and any amendments thereto. For a more detailed discussion of these factors, see the information under the headings “Risk Factors”, “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Special Note Regarding Forward-Looking Statements” in the quarterly report on Form 10.-Q filed with the Securities and Exchange Commission (“SEC”) on May 4, 2022, and in our most recent annual report on Form 10-K filed with the SEC on February 24, 2022, in each case updated by our filings with the SEC. We caution you that the foregoing list of important factors is not exhaustive. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as required by law.

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