13D Filing: 40 North Management and GCP Applied Technologies Inc (GCP)

All of the Reporting Persons may be
deemed to have shared power to vote and shared power to dispose of such Shares as they may be deemed to have beneficial ownership
of.

The percentages in the immediately
foregoing paragraphs are calculated based on a total of 71,974,922 Shares outstanding as of March 7, 2018 (based on the
Issuer’s Proxy Statement for its 2018 Annual Meeting of Stockholders filed with the SEC on Schedule 14A on March
20, 2018).

(c) Except as set forth on Exhibit
2 attached hereto, there have been no transactions with respect to the Shares during the sixty days prior to the date hereof
by any of the Reporting Persons.

(d) In addition to the Reporting Persons,
the limited partners of (or investors in) 40 North Latitude Feeder or its subsidiaries or affiliated entities and the shareholders
of G Holdings Inc. have the right to participate in the receipt of dividends from, or proceeds from the sale of, the Shares
in accordance with their respective limited partnership interests (or investment percentages) or shareholdings.

(e) Not applicable.

Exhibit 1 – Agreement by and among 40
North Management LLC, 40 North GP III LLC, 40 North Latitude Fund LP, 40 North Latitude Master Fund Ltd., 40 North Latitude SPV-D
LLC, Dalbergia Investments LLC, Standard Industries Inc., Standard Industries Holdings Inc., G-I Holdings Inc., G Holdings LLC,
G Holdings Inc., David S. Winter, David J. Millstone and Ronnie F. Heyman, to file this Schedule 13D and any amendments thereto
jointly on behalf of each of them.

Exhibit 2 – Transactions in the Shares
effected in the past 60 days.