On January 13, 2020, GCP Applied Technologies Inc. issued the following statement in response to the nominations announced by Starboard Value LP : 1) 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 stockholders. 2) GCP has maintained a constructive dialogue with Starboard and its other stockholders, including a 2019 agreement to add 2 Starboard-nominated directors to the board. 3) Under the leadership of recently appointed CEO Randy Dearth, it has focused on driving enhanced performance and further reducing costs and are seeing positive momentum in the business. Further, the Company added that it has executed substantial governance changes, including the election of Elizabeth Mora as Independent Chairman. 4) 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 its strategy.