Company: QXO-PB
Filing Date: 2025-03-14
Form Type: DFAN14A
Source: 0000950142-25-000746
Chunk: 4

Company: QXO, Inc.
Filing Date: 2025-03-14
Form: DFAN14A
Chunk 4
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 the average
home is over 40 years old.

There’s also a shortage of 4 million homes that need to be built.
On top of that, 80% of Beacon Roofing Supply’s business comes from repair and remodeling — essential, non-discretionary work
that is less sensitive to economic cycles. Replacing a leaking or damaged roof is not a choice; it’s a necessity. The spokesman
also noted that Beacon Roofing Supply is primarily a “made in the USA, sold in the USA” business, which minimizes exposure
to global tariff risks.

QXO plan to close Beacon Roofing Supply deal

Jacobs took a direct and personal tone in addressing Beacon’s employees,
recognizing that uncertainty often creates anxiety.

“I know this might be a stressful time for all of you,” Jacobs
wrote. “Uncertainty is never easy, and right now, it’s still up in the air whether QXO will be successful in our effort to
acquire Beacon. But if we are fortunate enough to move forward, our first priority will be listening to you.”

He stressed that QXO’s issue was with decisions at the board level
— not with the workforce.

“Let me be clear — our beef with Beacon is not with the employees,”
Jacobs continued. “It’s about the decisions being made at the board level. We have tremendous respect for the entire team
that has built this company and for the dedication you bring to it every day.”

Jacobs outlined his plan to immediately conduct a “listening tour”
upon closing the deal. He intends to meet with Beacon Roofing Supply employees at every level to understand what the company is doing
well and where it can make improvements. He wants to hear directly from employees about what’s working, what’s not, and what
changes would make Beacon a stronger and more competitive company.

“If I have the privilege of leading this company, my immediate focus
would be to hear from each one of you the answers to two key questions: What has Beacon been doing well — things we’d be crazy
to change? And where can we improve — whether it’s delighting customers, outpacing the competition, raising morale, enhancing
compensation plans, or anything you know will make Beacon the best building products distributor in the industry?” Jacobs said.

How Beacon Roofing Supply fits into QXO’s strategy

QXO’s strategy for Beacon extends far beyond operational improvements
— it’s a technology play at its core. Jacobs made clear