Ms. Jill Homenuk reports

ONCAP AND GRIFFON CORPORATION TO FORM PROFESSIONAL AND CONSUMER PRODUCTS JOINT VENTURE

Oncap, the lower mid-market private equity platform of Onex Corp., and Griffon Corp. have entered into a definitive agreement to form a joint venture creating a leading global provider of hand tools, home organization solutions, and lawn and garden products for professionals and consumers.

The joint venture will combine Bellota Tools, Corona, and Burgon & Ball, which are currently subsidiaries of the Venanpri Group, Oncap's majority-owned portfolio company, and Griffon's Ames Companies businesses in North America, which are currently part of Griffon's Consumer and professional product segment. The Venanpri companies within the joint venture are leading global providers of professional and consumer tools, and the Ames companies within the joint venture are leading providers of branded consumer and professional tools, home storage and organization solutions, and lawn and garden products in North America.

"This transaction brings together global leaders in professional and consumer tools, home storage and organization solutions, and lawn and garden products," said Michael Lay, executive chair at Oncap. "The combination of Venanpri and Ames will allow us to leverage the strengths of both organizations while streamlining operations and capturing the benefits of economies of scale. We are excited to work with our partners at Griffon to realize this vision."

The joint venture will be composed of leading professional and consumer brands, including Ames, Bellota, Burgon & Ball, ClosetMaid, Corona, Garant, Razor-Back, and True Temper, serving customers in North, Central and South America, and Europe, and with major operating facilities located in the United States, Spain, Canada, Mexico and Colombia.

The joint venture will be managed as a subsidiary of Venanpri, which, together with other affiliates of Oncap, will hold a 57-per-cent equity interest. Griffon will participate in the governance and oversight of the joint venture as a 43-per-cent equity holder. Venanpri's Agrisolutions business, including the Bellota Agrisolutions and Ingersoll brands, is not part of this joint venture and will continue to be wholly owned by Venanpri.

"Over the years, Griffon has built upon Ames's 250-year legacy to create a portfolio of trusted, iconic brands that are sought after by consumers and professionals. Many of these brands have legacies of a century or more, and are highly respected within their home regions," said Ronald J. Kramer, chairman and chief executive officer of Griffon. "The combination of the Venanpri Tools and Ames businesses creates a leading provider of professional and consumer tools, home storage and organization solutions, and lawn and garden products with critical scale and global reach."

Griffon will be issuing a separate press release this morning regarding the joint venture and certain actions to be taken relating to its consumer and professional product segment.

Canaccord Genuity LLC is acting as financial adviser, and Torys LLP is acting as legal counsel to Oncap and Venanpri. Goldman Sachs & Co. LLC is acting as financial adviser, and Dechert LLP is acting as legal counsel to Griffon. This transaction is subject to customary closing conditions and is expected to close by the end of June, 2026.

About Onex Corp.

Onex invests and manages capital on behalf of its shareholders and clients across the globe. Formed in 1984, it has a long record of creating value for its clients and shareholders. Its investors include a broad range of global clients, including public and private pension plans, sovereign wealth funds, banks, insurance companies, family offices, and high-net-worth individuals. In total, Onex has approximately $57.2-billion in assets under management, of which $8.5-billion is Onex's own investing capital. With offices in Toronto, New York, New Jersey and London, Onex and its experienced management teams are collectively the largest investors across Onex's platforms.

Onex is listed on the Toronto Stock Exchange under the symbol ONEX.