HEADWATERS INCORPORATED

LIST OF ANALYSTS

Improving lives through innovative advancements in construction materials takes the expertise, accomplishments, and commitment of many people. We respect and value the following analysts who cover Headwaters.

Avondale Partners, LLC

Attn: Daniel J. Mannes

Attn: Stefan Neely, Associate

Canaccord/Genuity

Attn: John Quealy

Attn: Chip Moore, Associate

CL King & Associates

Attn: Jim Barrett

Deutsche Bank - Equity

Attn: Robert Hansen

Stifel

Attn: John Baugh

Attn: Dillard Watt, Associate

SunTrust Robinson Humphrey

Attn: Keith Hughes

Attn: Rohit Seth, Associate

Wedbush Securities

Attn: Al Kaschalk

Wells Fargo Securities - Debt

Attn: Lee Brading