APOGEE ENTERPRISES INC

Project Fortify

The Company completed the initial phase of Project Fortify during the fourth quarter of fiscal 2025, incurring total project pre-tax charges of $16.7 million, with estimated annualized cost savings of approximately $14 million. The Company is announcing a second phase of Project Fortify (referred to as "Project Fortify Phase 2" or "Phase 2") to drive further cost efficiencies, primarily in the Architectural Services and Architectural Metals Segments. Phase 2 will further optimize our manufacturing footprint and align resources to enable a more effective operating model. The Company expects the actions of Phase 2 to incur approximately $24 million to $26 million of pre-tax charges, of which approximately $8 million are expected to be non-cash charges, and deliver estimated annualized pre-tax cost savings of approximately $13 million to $15 million. The Company expects the actions associated with Phase 2 to be substantially completed by the end of the fourth quarter of fiscal 2026.