Announcement • Jun 04

Atkore Inc. Announces Settlement Agreement with End User Plaintiffs in Class Action Litigation

Atkore Inc. had multiple putative class action lawsuits filed in 2024 and 2025 against Atkore Inc. and one or more of its subsidiaries (together, the "Company") and several other manufacturers of extruded PVC pipe and conduit products. In September 2024, those cases were centralized in the U.S. District Court for the Northern District of Illinois (the "Court") in a case captioned In re PVC Pipe Antitrust Litigation (the "Class Action Litigation"). On April 28, 2026, the Company entered into settlement agreements with two of the three putative classes in the Class Action Litigation. On June 3, 2026 the Company entered into a settlement agreement (the "Settlement Agreement") with the third putative class in the Class Action Litigation the End User Plaintiffs ("End User Plaintiffs"), individually and on behalf of the putative End User Plaintiff class members. The Settlement Agreement remains subject to preliminary and final approval by the Court. Under the Settlement Agreement, the Company has agreed to pay an aggregate of $50 million into a settlement fund to settle all claims asserted, or that could have been asserted, by the End User Plaintiffs against the Company, relating to the alleged conduct at issue in the Class Action Litigation. If the Settlement Agreement is preliminarily approved by the Court, the settlement payment will be made on or about 21 days thereafter. The settlement amount is inclusive of the recovery amount for class members, any fees for the End User Plaintiffs' counsel, and the costs of administering the settlement. If approved, the settlement class members will release all potential antitrust claims related to the allegations against the Company, including any parens patriae claims that might otherwise be brought on their behalf. The End User Plaintiffs have agreed to file their motion seeking preliminary approval of the Settlement Agreement as soon as practicable. The settlement for the End User Plaintiffs will be reflected as a non-operating expense in the quarter ending June 26, 2026. The Company anticipates utilizing available cash on-hand to fund the settlement payment. This settlement is not expected to have a material adverse effect on the Company's liquidity or leverage metrics (i.e., gross debt to Adjusted EBITDA and net debt to Adjusted EBITDA). The execution of the Settlement Agreement does not constitute an admission by the Company of any fault or liability, and the Company does not admit fault or liability. The claims asserted in the Class Action Litigation are directed at a number of participants across the industry, including several other manufacturers of PVC pipe and conduit, and are premised on alleged coordinated conduct within the industry. The Company believes resolving this matter now is in the best interests of the Company and will allow it to avoid the costs and distraction of protracted litigation with the End User Plaintiffs and maintain focus on executing its business objectives. The Company also believes the settlement reduces meaningful legal uncertainty and risk associated with complex antitrust litigation, including potential exposure under joint and several liability principles. There can be no assurance as to the ultimate outcome of the Class Action Litigation with respect to the Company, including no assurance that the Settlement Agreement will be approved by the Court or that any revised settlement terms, if applicable, will be finalized by the parties and approved by the Court. If the Settlement Agreement is not approved by the Court or it otherwise does not become final and non-appealable, the Company plans to vigorously defend itself. The Company believes there are defenses, both factual and legal, to the allegations against it. Further, there can be no assurances that the Company will seek to reach or conclude settlement(s) with respect to any other pending litigation or governmental investigations, or that additional investigations, litigation or regulatory proceedings will not be initiated in the future.

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