ARMSTRONG WORLD INDUSTRIES INC

Certain statements in this Annual Report on Form 10-K and the documents incorporated by reference herein may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Those forward-looking statements are subject to various risks and uncertainties and include all statements that are not historical statements of fact and those regarding our intent, belief or expectations, including, but not limited to, our expectations concerning our markets, broader economic conditions and their effect on our operating results; our expectations regarding the payment of dividends; and our ability to increase revenues, earnings and earnings before interest, taxes, depreciation and amortization. Words such as “anticipate,” “estimate,” “expect,” “project,” “intend,” “plan,” “believe,” “outlook,” “target,” “predict,” “may,” “will,” “would,” “could,” “should,” “seek,” and similar expressions are intended to identify such forward-looking statements. These statements are based on management’s current expectations and beliefs and are subject to a number of factors that could lead to actual results materially different from those described in the forward-looking statements. Although we believe that the assumptions underlying the forward-looking statements are reasonable, we can give no assurance that our expectations will be attained. Factors that could have a material adverse effect on our financial condition, liquidity, results of operations or future prospects or which could cause actual results to differ materially from our expectations include, but are not limited to:

Risks Related to Our Operations

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changes in key customer relationships;

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availability and costs of manufacturing inputs or sourced products;

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financial contribution of Worthington Armstrong Venture (“WAVE”), our joint venture with Worthington Enterprises, Inc.;

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labor;

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cost savings and productivity initiatives;

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progress towards environmental, social and governance (“ESG”) and sustainability objectives and related compliance;

Risks Related to Our Strategy

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benefits from strategic initiatives, including investments in digitalization and product innovation;

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identification, completion and successful integration of strategic transactions;

Risks Related to Financial Matters

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our liquidity needs and indebtedness;

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ability to make dividend payments and stock repurchases;

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unanticipated negative tax consequences;

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defined benefit plan obligations;

Risks Related to Legal and Regulatory Matters

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environmental liability exposure;

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claims and litigation;

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effectiveness of intellectual property rights protection;

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operations in Canada and Latin America;

Risks Related to General Economic and Other Factors

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economic conditions;

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construction activity;

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market competition;

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customer consolidation;

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information technology disruptions and cybersecurity breaches;

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dependence on third-party vendors and suppliers;

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geographic concentration;

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public health epidemics or pandemics; and

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other risks detailed from time to time in our filings with the Securities and Exchange Commission (the “SEC”), press releases and other communications, including those set forth under “Risk Factors” included elsewhere in this Annual Report on Form 10-K.

Such forward-looking statements speak only as of the date they are made. We expressly disclaim any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in our expectations with regard thereto or change in events, conditions or circumstances on which any statement is based.

Part I