GCP Applied Technologies (GCP) Issues Statement in Response to Starboard Nominations

GCP Applied Technologies Inc. (NYSE: GCP) (“GCP”), a leading global provider of construction products technologies, today issued the following statement in response to the nominations announced by Starboard Value LP (“Starboard”) earlier today:

GCP’s Board of Directors and management team are committed to executing the Company’s strategic plan and continuing to drive enhanced performance and operating efficiency to unlock value for all of our stockholders.

GCP has maintained a constructive dialogue with Starboard and its other stockholders, including a 2019 agreement to add two Starboard-nominated directors to the board. We look forward to continuing our open communication with our stockholders.

Under the leadership of our recently appointed CEO Randy Dearth, we have focused on driving enhanced performance and further reducing costs and are seeing positive momentum in the business. We also have executed substantial governance changes, including the election of Elizabeth Mora as Independent Chairman.

GCP is committed to an independent, diverse and experienced Board, and is confident that its current Board composition includes the right mix of knowledge, skills and expertise to support the execution of our strategy.

GCP’s Board and its Nominating and Governance Committee will evaluate Starboard’s nominees pursuant to our regular process and make a recommendation with respect to the election of directors in due course.

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