What changed in this filing

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Item 1. Business

2025-02-19 compared with 2024-02-21 · 85 added, 99 removed, 152 unchanged (55% of the section changed)

Gibraltar Industries, Inc.

(the "Company") is a leading manufacturer and provider of products and services for the renewable energy, residential, agtech and infrastructure markets.

(the "Company") is a leading manufacturer and provider of products and services for the residential, renewable energy, agtech and infrastructure markets.

The Company's mission is to make life better for people and the planet, fueled by advancing the disciplines of engineering, science, and technology.

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Portfolio Management is focused on optimizing the Company’s business portfolio in higher growth markets with leadership positions while ensuring its financial capital and human resources are effectively and efficiently deployed to deliver sustainable, profitable growth while increasing its relevance with customers and shaping its markets.

In 2023, the Company acquired the assets of a privately held Utah-based company in the Residential segment and sold its Japan-based solar racking business within the Renewables segment to help achieve these objectives.

Organization Development drives the Company’s continuous focus on ensuring it has the right design and structure to scale the organization in order to execute the Company’s plans and meet commitments.

The Company aspires to make its place of work the "Best Place to Work", where focus is on creating an environment for our people to have the best opportunity for success, continue to develop, grow and learn.

Company's focus is on creating an environment for our people to have the best opportunity for success, continue to develop, grow and learn.

At core of this pillar is the Company’s development process focused on helping employees reach their potential, improve performance, develop career roadmaps, identify ongoing education requirements, and respective succession plans.

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Corporate Social Responsibility

Corporate Social Responsibility is a key consideration in everything, from the products the Company makes and the suppliers the Company engages with, to the Company's employee policies, business strategies, and future plans.

The Company is committed to making a difference in the lives of the people the Company's business touches, and to creating meaningful impact every day through the Company's work and relationships.

A sense of responsibility to people and the planet is woven into the core values that define the Company's purpose and drive the Company's culture.

These values include:

• Make it better - The Company challenges itself and its way of thinking every day to exceed the needs of the Company's customers.

• Make it right - The Company cares about doing the right thing for each other, customers, and communities by holding the Company to the highest standards of ethics and safety.

• Make it together - The Company works collaboratively with customers and each other - teamwork sets the Company apart.

The Company works to create a culture that is inclusive of different perspectives and experiences.

• Make an impact - The Company is here to make a difference.

The Company drives change and delivers meaningful value to customers, investors, and community.

Corporate Social Responsibility is a key consideration in everything from the products the Company makes and the suppliers the Company engages with, to the Company's employment practices, business strategies, and future plans.

The Company is committed to making a difference in the lives of the people the Company's businesses touch, and to creating meaningful impact every day through the Company's work and relationships.

A sense of responsibility to people and the planet is woven into the values that define the Company's purpose and drive the Company's culture.

Every day the Company's choices and actions are governed by its values:

• Make it better - We challenge ourselves and our way of thinking every day to exceed the needs of our customers.

We raise the bar - and set new standards.

• Make it right - We care about doing the right thing for each other, our customers, and communities by holding ourselves to the highest standards of ethics and safety.

• Make it together - We work collaboratively with our customers and each other - teamwork sets us apart.

We work to create a culture that is inclusive of different perspectives and experiences.

• Make an impact - We are here to make a difference.

We drive change and deliver meaningful value to our customers, investors, and community.

The Company's efforts are focused on delivering positive impact in three key areas:

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The Company's businesses reflect the Company's purpose, values and desire to make a positive impact on the world.

Since 2014, the Company has been transforming itself to focus on solving some of humanity's most challenging opportunities - from harnessing energy and growing food more sustainably to living and working with greater ease, efficiency, and comfort.

Transforming the Company positions it to play a significant role in sustainable development issues, building partnerships with key players that help advance critical technologies, strengthening the Renewables, Residential, Agtech and Infrastructure businesses, and enabling the Company to better respond to humanity's evolving needs.

The Company serves customers primarily in North America including renewable energy (solar) developers, home improvement retailers, wholesalers, distributors, institutional and commercial growers of fruits, vegetables, flowers and other plants, and contractors.

At December 31, 2023, the Company operated thirty facilities, which were comprised of twenty-three manufacturing facilities, one distribution center, and six offices, and were located within sixteen states, Canada and China.

The Company continues to transform itself to focus on providing solutions to some of humanity's greatest challenges - from harnessing energy and growing food more sustainably, to living and working with greater ease, efficiency, and comfort.

This transformation positions the Company to play a significant role in sustainable development matters, building partnerships with key players that help advance critical technologies, strengthening the Company's Residential, Renewables, Agtech and Infrastructure businesses, and enabling the Company to better respond to humanity's evolving needs.

The Company serves customers primarily in North America including home improvement retailers, wholesalers, distributors, contractors, renewable energy (solar) developers, and institutional and commercial growers of fruits, vegetables, flowers and other plants.

At December 31, 2024, the Company operated thirty facilities, which were comprised of twenty-three manufacturing facilities, two distribution centers, and five offices, and were located within sixteen states, Canada and China.

The Company's operational infrastructure provides the necessary scale to support regional and national customers in each of its markets.

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The following table summarizes the primary products and, where applicable, services, applications, and end markets for each segment:

Renewables Segment

Products and Services Applications End Market

Design, engineering, manufacturing and installation of solar racking and electrical balance of systems Commercial and distributed generation scale solar installations on any type of terrain Solar developers;

power companies;

solar energy EPC contractors

Residential Segment

Products Applications End Market

Roof and foundation ventilation products Ventilation and whole-house air flow management

Roof and foundation ventilation products Ventilation

new construction and repair and remodeling

Single point and centralized mail systems and electronic package solutions Secure storage for mail and package deliveries

Single point and centralized mail systems and package solutions Secure storage for mail and package deliveries

Retractable awnings and gutter guards Sun and wind protection;

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Trims and flashings, metal roofing, rain dispersion, other accessories Protection from water and other natural elements - roof integrity

Renewables Segment

Products and Services Applications End Market

power companies;

solar energy engineering, procurement, and construction ("EPC") contractors

Agtech Segment

Products and Services Applications End Market

Provide growing solutions including the designing, engineering, manufacturing, full scope construction, maintenance and support of greenhouses and indoor growing operations Retail, fruits and vegetables, flowers, cannabis, commercial, institutional and conservatories, car wash structures Large scale indoor produce growers;

Controlled environmental agriculture, and custom greenhouse solutions and structural canopies including the designing, engineering, manufacturing, full scope construction of the structure and integration of subsystems Retail, fruits and vegetables, flowers, commercial, institutional and conservatories, car wash structures Large scale indoor produce growers;

retail garden centers;

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agricultural research;

cannabis growers

Infrastructure Segment

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Engineered solutions for bridges, highways and airfields, including structural bearings, expansion joints, pavement seals, elastomeric concrete, bridge cable protection systems

Preserve functionality under varying weight, wind, temperature and seismic conditions Bridge and elevated highway construction, airport pavements

Bridge and elevated highway construction, airport pavements Commercial and transportation contractors and fabricators

The Company’s operating businesses have established strong positions in attractive end markets by building core capabilities in innovation, new products and services, manufacturing and field operations, business systems, quality performance, along with a healthy balance sheet and the strength of our people.

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Attractive End Markets .

The Company's businesses are focused on solving global challenges accelerating renewable energy generation, increasing the supply of locally-grown and more sustainably-produced food and plants, maintaining healthy and efficient home environments, supporting mail and package delivery, and improving the country’s transportation infrastructure and ways of transporting people.

The Company's businesses are focused on maintaining healthy and efficient home environments, supporting mail and package delivery, solving global challenges accelerating renewable energy generation, increasing the supply of locally-grown and more sustainably-produced food and plants, and improving the country’s transportation infrastructure and ways of transporting people.

Value-Added Products and Services .

The Company provides optimal solutions to its customers:

racking, foundation, and electrical systems for photovoltaic solar systems, commercial growing greenhouses for biologically grown food, floriculture, and other plants;

roof-related ventilation and weather protection to support healthy home environments;

mail and package storage for home and retail and non-retail sites;

racking, foundation, and electrical systems for photovoltaic solar systems, controlled environmental agriculture systems and custom commercial growing greenhouses for biologically grown food, floriculture, and other plants;

and structural bearings, expansion joints and rubber products for bridges and other transportation structures.

The Company's products and services are highly engineered, supported with intellectual property, and driven by effective business systems and IT infrastructure.

Commitment to Customer and Quality .

Commitment to Customers and Quality .

The Company strives to be connected directly with its end customers, where it receives unfiltered feedback on performance, insight on customer problems and opportunities, and cooperation on ideas for new products, services, and business model optimization.

The percentage of the Company's total revenue generated from products and services that were sold directly to the end user was approximately 45% and the Company expects this to grow in future years.

The Company's commitment to quality is a core operating tenet, and its quality management systems are designed to ensure the Company delivers to meet customer and stakeholder expectations.

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Recent Developments

On December 1, 2023, the Company sold its Japan-based solar racking business within its Renewables segment to a third party and received net proceeds of $8.0 million.

On July 5, 2023, the Company acquired the assets of a privately held Utah-based company that manufactures and distributes roof flashing and accessory products for $10.4 million.

On February 11, 2025, the Company purchased all the outstanding stock of Lane Supply, Inc., a privately held company that designs, manufactures and installs structural canopies serving the convenience store, travel center, food retail, and quick serve restaurant markets, for $120 million in an all cash transaction, subject to customary working capital and other adjustments.

Lane Supply, Inc.

will be reported as part of the Company's Agtech segment.

On December 17, 2024, the Company sold its electronic locker business within its Residential segment to a third party and received net proceeds of $28 million.

Customers and Products

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No other customer in any segment or segments accounted for more than 10% of the Company's consolidated net sales.

The Residential segment serves both the residential repair and remodeling and new housing construction markets in North America with products and services including roof and foundation ventilation products, single point and centralized mail and package solutions, outdoor living space products (sun-shading), rain dispersion systems, metal roofing job site services, and other construction accessories.

The Company's residential product offerings are sold through major retail home centers, building material wholesalers, building product distributors, roofing distributors, residential contractors, property management companies, manufactured housing dealers, postal services distributors and providers, and online directly to end consumers.

The Company's residential product offerings consist of roof edging and flashing, soffits and trim, drywall corner bead, metal roofing and accessories, rain dispersion products, including gutters and accessories, and exterior retractable awnings.

Each of these product offerings can be sold separately or as part of a system solution.

In addition, the Company's residential product offerings consist of mail and package solutions including single mailboxes, cluster style mail and parcel boxes for single and multi-family housing, and package locker systems.

The Company strives to improve its product-solution offerings while adapting to local and regional building codes and new products recently introduced include efficient-installation ventilation solutions, next generation single mailboxes, pipe flashings and remote-controlled deck awnings and valances for sun protection.

The Company's ventilation and roof flashing products provide protection and extend the life of residential structures while providing a safer, healthier environment for residents.

The Company's building products are manufactured primarily from galvanized and painted steel, anodized and painted aluminum, and various resins.

The Company's cluster box mail delivery products provide delivery cost savings to the postal service while offering secure storage for delivered mail and packages.

The Company leverages its production capabilities and supply chain across the United States ("U.S.") while maintaining the capability to support the many local and regional customer requirements.

The production facilities and processes are designed to provide a broad, but locally focused product range of residential products, and includes automated roll forming and injection molding, welding, stamping, and finished painting.

The Company maintains its equipment through daily maintenance and a preventive maintenance program.

In some cases, the Company sources products from third-party vendors to optimize cost and quality in order to provide the very best and affordable solution for customers.

The Renewables segment designs, manufactures and installs solar energy mounting systems including foundation, racking, and electrical balance of systems for developers, EPCs and owners / operators of solar fields.

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New products introduced in recent years include screw-based racking and foundation solutions, operating software to optimize solar energy investments, and single-axis tracker systems.

Recent product development efforts focused on increasing the amount of domestic content in the single-axis tracker system and integrating the Company’s fixed tilt and tracker systems with a leading domestic manufacturer of solar modules.

These efforts provide customers a clearer, more flexible route to securing valuable tax credit incentives tied to the domestic content included in solar projects.

The Company's screw-based racking foundation offers rapid and secure installation on any terrain.

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Solar racking systems for carports serve as protection for cars from the effects of the sun and intense heat while providing a renewable energy source.

Similarly, solar racking systems installed on idle land, such as solid waste landfills, or on challenging, rocky terrain, converts such land into a useful property by providing clean renewable power generating capabilities.

Similarly, solar racking systems installed on idle land, such as solid waste landfills, or on challenging, rocky terrain, converts such land into a useful

property by providing clean renewable power generating capabilities.

An eBOS system supports the conversion of captured sunlight to direct current energy.

The Company is a full eBOS solution provider, from combiner boxes that take multiple source circuits and combine them into a single output to pre-fabricated and customized wire harnesses and source circuit lengths which greatly shorten field installation time.

The Residential segment serves both the residential repair and remodeling and new housing construction markets in North America with products and services including roof and foundation ventilation products, single point and centralized mail systems and electronic package solutions, outdoor living space products (sun-shading), rain dispersion systems, metal roofing job site services, and other construction accessories.

The Company's residential product offerings are sold through major retail home centers, building material wholesalers, building product distributors, buying groups, roofing distributors, residential contractors, property management companies, manufactured housing dealers, postal services distributors and providers, and online direct to end consumers.

The Company's mail and electronic package solutions include single mailboxes, cluster style mail and parcel boxes for single and multi-family housing, and electronic package locker systems.

The Company's remaining residential product offerings consist of roof edging and flashing, soffits and trim, drywall corner bead, metal roofing and accessories, rain dispersion products, including gutters and accessories, and exterior retractable awnings.

Each of these product offerings can be sold separately or as part of a system solution.

The Company strives to improve its product-solution offerings while adapting to local and regional building codes and new products recently introduced include efficient-installation ventilation solutions, next generation single mailboxes, electronic parcel lockers, pipe flashings and remote-controlled deck awnings and valances for sun protection.

The Company's ventilation and roof flashing products provide protection and extend the life of residential structures while providing a safer, healthier environment for residents.

The Company's building products are manufactured primarily from galvanized and painted steel, anodized and painted aluminum, and various resins.

The Company's cluster box mail delivery products provide delivery cost savings to the postal service while offering secure storage for delivered mail and packages.

The Company's electronic parcel lockers systems provide multi-family communities and businesses a secure storage solution to handle both package deliveries and receipt of other goods, along with helping retail businesses and their customers to transact via buy online, pick up in store transactions.

The Company leverages its production capabilities and supply chain across the U.S.

while maintaining the capability to support the many local and regional customer requirements.

The Company maintains its equipment through daily maintenance and a preventive maintenance program.

In some cases, the Company sources products from third-party vendors to optimize cost and quality in order to provide the very best and affordable solution for customers.

The Agtech segment designs, manufactures, and builds advanced-technology turnkey greenhouse growing facilities for large-scale indoor commercial growers of fruits and vegetables, plants and flowers, and agricultural research and development facilities with over 100 universities in the United States.

The Agtech segment provides controlled environmental agriculture solutions for growing fruits, vegetables and flowers, supplies custom greenhouses and structural canopies for research, education, retail and commercial applications.

Turnkey growing facilities, with the structure and multiple subsystems, are designed, integrated, manufactured, constructed and installed for large-scale indoor commercial growers of fruits and vegetables, plants and flowers, and agricultural research and development facilities with over 100 universities in the United States.

Large scale greenhouse facilities are unique to a particular type of plant, vegetable, flower, or fruit, and require unique structures, growing systems, and the integration of the structure and the systems.

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The products manufactured are highly engineered to meet the exact specifications for the particular project undertaken.

New products introduced in recent years extend the infrastructure products into new markets.

High speed and traditional rail projects involving elevated structures have created new opportunities in recent years.

Engineered pavement sealants for roadways are commonly used in airport runways, for both existing runways and expansion projects.

Its corrosion-protection products for cable-suspension bridges are now marketed and sold internationally and have been used on numerous signature bridges.

The Infrastructure Investment and Jobs Act has been the main funding source since 2022 with a five-year mission to modernize our nation’s infrastructure.

The Infrastructure segment has been a benefactor of the additional funding that has driven expansion in highway, bridge, and airport markets.

The Company continues to expand into adjacent markets such as bridge protection systems, high speed and traditional rail, and telecom.

Engineering and Technical Services

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Sales and Marketing

In 2023, approximately 41% of the Company's revenues were generated from products and services that were sold directly to the end user, with the remainder of revenues generated through retailers, wholesalers and distributors.

In 2024, approximately 60% of the Company's revenues were generated from sales to retailers, wholesalers and distributors and approximately 40% from products and services that were sold directly to the end user.

The Company's sales process regularly includes a competitive bid process, and its reputation for product and service quality and meeting delivery requirements make the Company a preferred provider for many customers.

The Company's marketing focus is to build an enhanced cohesive brand strategy for Gibraltar—ensuring the Company has a defined purpose and values and ensuring the Company's brand messages reflect the needs of the market and the capabilities of its businesses with "We advance the art and science of making and celebrate the people that make life better."

In addition, the businesses in the Company's Renewables segment were integrated and rebranded under the brand name Terrasmart at the beginning of 2022 and the Company's businesses in its Agtech segment were consolidated under the brand name Prospiant during 2021.

In their markets, both brands reflect the Company's unique value to customers.

The Company's customer relationship management systems provides important aggregate market data and visibility into sales account status and enabling cross-sell and up-sell opportunities.

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This metric is useful as it reflects the committed amount the Company expects to recognize as revenue in the near-term.

While the majority of the Company's products have short lead time order cycles, the Company has aggregated approximately $330 million of backlog at December 31, 2023 compared to $299 million at December 31, 2022.

While the majority of the Company's products have short lead time order cycles, the Company has aggregated approximately $250 million of backlog at December 31, 2024.

The backlog primarily relates to certain business units in the Company's Renewables, Agtech, and Infrastructure segments.

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The Company operates in highly competitive markets with several competitors participating in each of its end markets.

The Company goes to market with a focused and broad range of high quality products, executes with speed and industry-leading service, value-based pricing and project management and field operations in its Agtech and Renewables businesses.

The Company goes to market with a focused and broad range of high quality products, executes with speed and industry-leading service, and value-based pricing.

Furthermore, the Company's focus on project management and field operations in its Renewables and Agtech segments is critical to these businesses.

The Company’s end markets have historically experienced seasonal demand fluctuation, with lower demand typically in the first and fourth quarters.

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• The Company's ability to perform and deliver shareholder value is dependent on our people, and

• Each member of the Company's team plays an important role in creating an environment where individuals are respected and valued and diverse teams have the best chance to thrive.

The Company seeks to support an array of career pathways and life journeys by engaging the entire organization, with areas of focus that include Health and Safety, Education and Development, Diversity and Inclusion, Compensation and Benefits, as well as Communication and Employee Engagement.

The Company employed 2,097 full-time employees and 13 part-time employees as of December 31, 2023.

• Each member of the Company's team plays an important role in creating an environment where individuals are respected, valued and have the opportunities to thrive.

The Company seeks to support an array of career pathways and life journeys by engaging the entire organization, with areas of focus that include Health and Safety, Learning and Development, Diversity and Inclusion, Compensation and Benefits, as well as Communication and Employee Engagement.

The Company employed 2,097 full-time employees and 10 part-time employees at December 31, 2024.

Of the Company's 2,107 total employees, 747 were classified as salaried and 1,360 classified as hourly.

The Company also employed approximately 358 full-time equivalent temporary agency employees.

Approximately 6% of the Company's U.S.

The Company also engaged approximately 270 full-time equivalent temporary agency employees at December 31, 2024 Approximately 8% of the Company's U.S.

workforce was represented by unions through two collective bargaining agreements ("CBAs") as of December 31, 2024.

Both of the Company's CBAs will expire and are expected to be renegotiated in 2024.

Both of the Company's CBAs were successfully renegotiated in 2024 and one of the CBAs will expire April 30, 2027 and the other will expire March 31, 2028.

The Company considers its employee relations to be good.

Health and Safety

The Company expects each team member of the Company to follow the Company's safety standards and practices, support the Company's key safety initiatives, be accountable to themselves and each other, and be part of safety solutions.

Safety is a top priority.

The Company expects each team member of the Company to follow the Company's safety standards, best practices, and support the Company's key safety initiatives, The Company expects all team members to be accountable to themselves and each other and collaborate on safety solutions.

The Company believes all accidents and near-misses are preventable as the Company strives to create a zero-incident work environment.

The Company has continued to invest in the Company's safety organization, and implemented a disciplined safety management and reporting process, measuring and reviewing the Company's safety results continuously in each location.

The Company has continued to invest in the Company's safety organization by implementing a disciplined safety management and reporting process to measure and review the Company's safety results continuously in each location.

The Company's CEO reviews safety performance monthly, including recordable incidents, near misses, and first aid cases.

Safety performance and best practices are also reviewed quarterly with the entire organization during company-wide Town Hall meetings and with the Company's Board of Directors during quarterly board meetings.

Each of the Company's businesses have a safety team that assesses all recordable incidents and near misses to identify mitigating actions to prevent accidents in the future.

Safety performance and best practices are also reviewed quarterly enterprise-wide during the Company's Town Hall meetings.

Each of the Company's businesses has a safety team that collaborates with the Company's leaders and employees to assess risks to identify mitigating actions to prevent accidents.

The Company's businesses also identify additional safety investments required for training, education, equipment, and processes as part of the Company's annual budget and capital planning procedure.

The Company is continuously evolving its crisis management plans as the Company gains experience, reviews industry best practices, and continues to develop more effective tools, processes, and policies.

In an emergency, the Company's priorities are to protect the welfare of our people and to maintain business continuity.

Diversity and Inclusion

The Company supports and encourages a culture where diversity of thought flourishes and all employees feel appreciated, included, and know they have an equal opportunity to develop, grow, and succeed based on their performance.

The Company believes demonstrating respect for our people and valuing their perspectives and their contributions is critical to cultivating the Company's best and most successful work environment.

Key demographics for the Company's employees are shown below.

While the figures below are in total, the Company evaluates its organization against the diversity of the communities that the Company operates in, with a goal of being representative at the community level.

2023 Workforce Composition (Gender and Age)

Employee Age Groups Female Male Non-Binary Total by Age Group % by Age Group

< 30 years of age 86 276 2 364 17.3%

30 - 49 years of age 297 678 — 975 46.2%

50+ years of age 245 526 — 771 36.5%

The Company believes demonstrating respect and valuing perspectives and contributions are critical to cultivating the Company's best and most successful outcomes.

Key workforce demographics as of December 31, 2024 are shown in the tables below.

While the figures below are aggregated, the Company measures and strives to reflect in the Company's teams the diversity of the communities in which the Company operates.

Employee Composition by Gender and Age

Employee Category Female Male Non-Binary Decline to Answer Age Group Totals

Age Group # of Employees # of Employees # of Employees # of Employees # of Employees % of Workforce

Less than 30 83 266 2 1 352 16.7%

30 to 49 306 661 1 3 971 46.1%

50 and over 251 533 — — 784 37.2%

Total 640 1,460 3 4 2,107

As a percentage 30.4% 69.3% 0.1% 0.2%

Number of 2023 Employees by Employment Type (by Gender)

Employee Type Female Male Non-Binary Total by Type % by Type

Number of Employees by Employment Type

Employee Category Female Male Non-Binary Decline to Answer Comp Group Totals

Comp Group # of Employees # of Employees # of Employees # of Employees # of Employees % of Workforce

Salary 220 526 — 1 747 35.5%

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Ethnic Background of Employees

Ethnic Background % of Employees

Ethnic Background % of Workforce

Hispanic or Latino 20.3%

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American Indian/Alaska Native 0.4%

The Company believes in building a team that includes people who bring diversity of thought, experience, and perspective to its organization.

The Company recognizes that its organization and the communities in which the Company operates will continue to evolve and grow, which will require that the Company remain focused on the following initiatives:

• Continue the Company's mandatory and annual education and development program for the Company, including the Board of Directors, and evolve the curriculum as needed

• Continue to map the Company's organization with the communities where it operates and strive to reflect the diversity of these communities in the Company's team

• Implement and upgrade business systems across the Company to give the Company the capability to gather and analyze data, derive conclusions, and develop action plans for implementation

• Communicate the Company's progress through monthly business reviews with the Company's leadership teams, quarterly communications with its teams, and quarterly reviews with the Company's Board of Directors

• Build the most effective talent acquisition framework to attract the best people and extend training and development opportunities through a combination of on-the-job experiences, peer connections as well as classroom and self-paced learning.

• Be proactive with the Company's customers and supply chain partners to find ways to work together in promoting positive social development

Leadership Development

In 2022, the Company launched a reimagined leadership development program to better equip our mid- and senior-level leaders with modern tools and tactics to best foster collaboration and success within its workforce.

The basis of the program now includes multiple learning paths to meet the development needs of employees at all levels, including ethics compliance, leadership development, continuous improvement, diversity & inclusion, and function-specific learning and certification programs.

The Gibraltar Leadership Program ("GLP") core curriculum is a two-day program with modules on servant leadership, skilled collaboration, accountability at work, taking control of conflict, emotional intelligence, and communicating as a manager.

In 2022, 194 leaders from across the business units participated in the GLP, followed by 146 leaders in 2023.

In addition, the Company maintains its commitment to ethical leadership with quarterly ethics training for all employees.

It also encourages and supports employees who pursue training and development to build their functional knowledge and expertise through continuing education and certification programs related to their functional area.

Going forward the Company has strategic initiatives in place to expand advanced trainings offered for current GLP participants.

In addition, it seeks to best leverage its rising talent through future rollout of a Leadership Potential Assessment and Manager Fundamentals program.

The continued deployment of the new human resources system will allow leaders at all levels from across the businesses to collaborate in a common space to share best practices and support new leaders with development coaching to continue to invest in their career growth.

The Company's leadership development journey blends on-the-job experiences with peer learning, self-study and facilitated training sessions.

The Company's leaders have access to courses and application tools for a variety of situations including Goal-Setting, Problem-Solving, Receiving and Delivering Feedback, Delegating, Leading through Change, Time Management, and Behavior-based Interviewing among other topics.

Internet Information

Copies of the Company’s Proxy Statements on Schedule 14A filed pursuant to Section 14 of the Securities Exchange Act of 1934 and Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and amendments to those reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of 1934 are available free of charge through the Company’s website (www.gibraltar1.com) as soon as reasonably practicable after the Company electronically files the material with, or furnishes it to, the Securities and Exchange Commission.

The contents of the Company's website or any other website referenced are not a part of this Annual Report on Form 10-K.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 1. Business