Company: OC
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0001370946-25-000125
Chunk: 42

Company: Owens Corning
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 42
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 cost of capital. Maximum performance, which would provide for 200% funding, was set at 20% adjusted return on capital. Target performance, which would provide for 100% funding, was set at 17% adjusted return on capital. Payout will be interpolated on a straight-line mathematical basis for performance between Threshold and Target, or between Target and Maximum. The following table depicts the payout opportunity for the 2024 ROC PSU award:

|           |     |     | FUNDING AS A % OF TARGET |     |     | 2024-2026 ROC |
| Threshold |     |     | 0%                       |     | 8.5 | %             |
| Target    |     | 100 | %                        |     |  17 | %             |
| Maximum   |     | 200 | %                        |     |  20 | %             |

PERFORMANCE SHARE UNITS – FREE CASH FLOW CONVERSION

Free cash flow conversion is a non-GAAP measure calculated as net cash flow provided by operating activities less cash paid for property, plant, and equipment divided by adjusted earnings. This formula may be adjusted for material transactions, accruals, or charges as approved by the Committee and thus may differ from free cash flow conversion that may be discussed in the context of our financial statements and other public disclosures.

For the 2024-2026 performance cycle, the FCFC PSUs will fund from 0% to 200% based upon annual adjusted free cash flow conversion during each year of the three-year performance period. Each annual funding outcome will be averaged to determine the award payout. For the 2024-2026 performance cycle, 0% funding will be provided at or below Threshold performance, which was set at 75% adjusted free cash flow conversion. Maximum performance, which would provide for 200% funding, was set at 110% adjusted free cash flow conversion performance. Target performance, which would provide for 100% funding, was set at a range of 96%-100% adjusted free cash flow conversion. Payout will be interpolated on a straight-line mathematical basis for performance between Threshold and Target, or between Target and Maximum. The following table depicts the payout opportunity for the 2024 FCFC PSU award:

|           |     |     | FUNDING AS A % OF TARGET |     |     | 2024-2026 FCFC |
| Threshold |     |     | 0%                       |     |  75 | %