WMS

SEC source: 0000919574-20-007016 · ownership.xml · nonDerivative · entry 4

Berkshire Partners Holdings LLC · CIK 0001597786 · 10% owner

BPSP, L.P. · CIK 0001597787 · 10% owner

Berkshire Partners LLC · CIK 0001312988 · 10% owner

Stockbridge Partners LLC · CIK 0001505183 · 10% owner

Berkshire Fund IX, L.P. · CIK 0001658315 · 10% owner

Berkshire Fund IX-A, L.P. · CIK 0001658319 · 10% owner

Stockbridge Fund, L.P. · CIK 0001501625 · 10% owner

Stockbridge Absolute Return Fund, L.P. · CIK 0001505182 · 10% owner

Berkshire Investors III LLC · CIK 0001505184 · 10% owner

Berkshire Investors IV LLC · CIK 0001505185 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 12,422,889

F7 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions within the range of $64.0470 to $64.2600. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.

F1 · ownership.nature: Represents shares that may be deemed to be indirectly beneficially owned by Berkshire Partners Holdings LLC ("BPH"), BPSP, L.P. ("BPSP"), Stockbridge Partners LLC ("SP") and Berkshire Partners LLC ("BP"). Berkshire Fund IX, L.P. ("BF IX") holds 6,015,123 shares of the Issuer's common stock, and Berkshire Fund IX-A, L.P. ("BF IX-A") holds 2,464,083 shares of the Issuer's common stock. Ninth Berkshire Associates LLC ("9BA") is the general partner of BF IX and BF IX-A. Stockbridge Fund, L.P. (f/k/a Stockbridge Special Situations Fund, L.P.) ("SF") holds 3,344,977 shares of the Issuer's common stock, Stockbridge Absolute Return Fund, L.P. ("SARF") holds 9,846 shares of the Issuer's common stock, and SP holds 607,680 shares of the Issuer's common stock on behalf of certain other accounts. Stockbridge Associates LLC ("SA") is the general partner of SF and SARF.

F2 · ownership.nature: (Continued from Footnote 1) BPH is the general partner of BPSP, which is the managing member of each of SP, the registered investment adviser of SF, SARF and certain other accounts holding shares of the Issuer, and BP, the registered investment adviser of BF IX and BF IX-A. As the managing member of SP and BP, BPSP may be deemed to beneficially own shares of common stock that are beneficially owned by SP and BP. As the general partner of BPSP, BPH may be deemed to beneficially own shares of common stock that are beneficially owned by BPSP. BPH, BPSP, BP, SP, 9BA and SA are under common control and may be deemed to be, but do not admit to being, a group for purposes of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended (the "Act"). Each of BPH, BPSP, BP, SP, 9BA and SA disclaims beneficial ownership of any securities except to the extent of its pecuniary interest therein.

SEC source: 0000919574-20-007011 · ownership.xml · nonDerivative · entry 4

JONES ROSS M · CIK 0001267629 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 12,422,889

F7 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions within the range of $64.0470 to $64.2600. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.

F1 · ownership.nature: Represents shares held by Berkshire Fund IX, L.P. ("BF IX"), Berkshire Fund IX-A, L.P. ("BF IX-A"), Stockbridge Fund, L.P. ("SF"), Stockbridge Absolute Return Fund, L.P. ("SARF") and certain other accounts. Ninth Berkshire Associates LLC ("9BA") is the general partner of BF IX and BF IX-A, and Stockbridge Associates LLC ("SA") is the general partner of SF and SARF. Berkshire Partners LLC ("BP") is the investment adviser to BF IX and BF IX-A, and Stockbridge Partners LLC ("SP") is the investment adviser to SF, SARF and such certain other accounts. Berkshire Partners Holdings LLC ("BPH") is the general partner of BPSP, L.P. ("BPSP"), which is the managing member of BP and SP.

F2 · ownership.nature: (continued from Footnote 1) The Reporting Person is a managing member of BPH, BPSP, BP, SP, 9BA and SA. By virtue of the relationships described in the preceding sentences, the Reporting Person may be deemed to share beneficial ownership with respect to the shares of common stock held by BF IX, BF IX-A, SF, SARF and such other accounts. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purpose.

SEC source: 0000919574-20-007016 · ownership.xml · nonDerivative · entry 3

Berkshire Partners Holdings LLC · CIK 0001597786 · 10% owner

BPSP, L.P. · CIK 0001597787 · 10% owner

Berkshire Partners LLC · CIK 0001312988 · 10% owner

Stockbridge Partners LLC · CIK 0001505183 · 10% owner

Berkshire Fund IX, L.P. · CIK 0001658315 · 10% owner

Berkshire Fund IX-A, L.P. · CIK 0001658319 · 10% owner

Stockbridge Fund, L.P. · CIK 0001501625 · 10% owner

Stockbridge Absolute Return Fund, L.P. · CIK 0001505182 · 10% owner

Berkshire Investors III LLC · CIK 0001505184 · 10% owner

Berkshire Investors IV LLC · CIK 0001505185 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 12,441,709

F1 · ownership.nature: Represents shares that may be deemed to be indirectly beneficially owned by Berkshire Partners Holdings LLC ("BPH"), BPSP, L.P. ("BPSP"), Stockbridge Partners LLC ("SP") and Berkshire Partners LLC ("BP"). Berkshire Fund IX, L.P. ("BF IX") holds 6,015,123 shares of the Issuer's common stock, and Berkshire Fund IX-A, L.P. ("BF IX-A") holds 2,464,083 shares of the Issuer's common stock. Ninth Berkshire Associates LLC ("9BA") is the general partner of BF IX and BF IX-A. Stockbridge Fund, L.P. (f/k/a Stockbridge Special Situations Fund, L.P.) ("SF") holds 3,344,977 shares of the Issuer's common stock, Stockbridge Absolute Return Fund, L.P. ("SARF") holds 9,846 shares of the Issuer's common stock, and SP holds 607,680 shares of the Issuer's common stock on behalf of certain other accounts. Stockbridge Associates LLC ("SA") is the general partner of SF and SARF.

F2 · ownership.nature: (Continued from Footnote 1) BPH is the general partner of BPSP, which is the managing member of each of SP, the registered investment adviser of SF, SARF and certain other accounts holding shares of the Issuer, and BP, the registered investment adviser of BF IX and BF IX-A. As the managing member of SP and BP, BPSP may be deemed to beneficially own shares of common stock that are beneficially owned by SP and BP. As the general partner of BPSP, BPH may be deemed to beneficially own shares of common stock that are beneficially owned by BPSP. BPH, BPSP, BP, SP, 9BA and SA are under common control and may be deemed to be, but do not admit to being, a group for purposes of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended (the "Act"). Each of BPH, BPSP, BP, SP, 9BA and SA disclaims beneficial ownership of any securities except to the extent of its pecuniary interest therein.

SEC source: 0000919574-20-007011 · ownership.xml · nonDerivative · entry 3

JONES ROSS M · CIK 0001267629 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 12,441,709

F1 · ownership.nature: Represents shares held by Berkshire Fund IX, L.P. ("BF IX"), Berkshire Fund IX-A, L.P. ("BF IX-A"), Stockbridge Fund, L.P. ("SF"), Stockbridge Absolute Return Fund, L.P. ("SARF") and certain other accounts. Ninth Berkshire Associates LLC ("9BA") is the general partner of BF IX and BF IX-A, and Stockbridge Associates LLC ("SA") is the general partner of SF and SARF. Berkshire Partners LLC ("BP") is the investment adviser to BF IX and BF IX-A, and Stockbridge Partners LLC ("SP") is the investment adviser to SF, SARF and such certain other accounts. Berkshire Partners Holdings LLC ("BPH") is the general partner of BPSP, L.P. ("BPSP"), which is the managing member of BP and SP.

F2 · ownership.nature: (continued from Footnote 1) The Reporting Person is a managing member of BPH, BPSP, BP, SP, 9BA and SA. By virtue of the relationships described in the preceding sentences, the Reporting Person may be deemed to share beneficial ownership with respect to the shares of common stock held by BF IX, BF IX-A, SF, SARF and such other accounts. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purpose.

SEC source: 0000919574-20-007016 · ownership.xml · nonDerivative · entry 2

Berkshire Partners Holdings LLC · CIK 0001597786 · 10% owner

BPSP, L.P. · CIK 0001597787 · 10% owner

Berkshire Partners LLC · CIK 0001312988 · 10% owner

Stockbridge Partners LLC · CIK 0001505183 · 10% owner

Berkshire Fund IX, L.P. · CIK 0001658315 · 10% owner

Berkshire Fund IX-A, L.P. · CIK 0001658319 · 10% owner

Stockbridge Fund, L.P. · CIK 0001501625 · 10% owner

Stockbridge Absolute Return Fund, L.P. · CIK 0001505182 · 10% owner

Berkshire Investors III LLC · CIK 0001505184 · 10% owner

Berkshire Investors IV LLC · CIK 0001505185 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 12,442,509

F6 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions within the range of $65.3200 to $65.5300. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.

F1 · ownership.nature: Represents shares that may be deemed to be indirectly beneficially owned by Berkshire Partners Holdings LLC ("BPH"), BPSP, L.P. ("BPSP"), Stockbridge Partners LLC ("SP") and Berkshire Partners LLC ("BP"). Berkshire Fund IX, L.P. ("BF IX") holds 6,015,123 shares of the Issuer's common stock, and Berkshire Fund IX-A, L.P. ("BF IX-A") holds 2,464,083 shares of the Issuer's common stock. Ninth Berkshire Associates LLC ("9BA") is the general partner of BF IX and BF IX-A. Stockbridge Fund, L.P. (f/k/a Stockbridge Special Situations Fund, L.P.) ("SF") holds 3,344,977 shares of the Issuer's common stock, Stockbridge Absolute Return Fund, L.P. ("SARF") holds 9,846 shares of the Issuer's common stock, and SP holds 607,680 shares of the Issuer's common stock on behalf of certain other accounts. Stockbridge Associates LLC ("SA") is the general partner of SF and SARF.

F2 · ownership.nature: (Continued from Footnote 1) BPH is the general partner of BPSP, which is the managing member of each of SP, the registered investment adviser of SF, SARF and certain other accounts holding shares of the Issuer, and BP, the registered investment adviser of BF IX and BF IX-A. As the managing member of SP and BP, BPSP may be deemed to beneficially own shares of common stock that are beneficially owned by SP and BP. As the general partner of BPSP, BPH may be deemed to beneficially own shares of common stock that are beneficially owned by BPSP. BPH, BPSP, BP, SP, 9BA and SA are under common control and may be deemed to be, but do not admit to being, a group for purposes of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended (the "Act"). Each of BPH, BPSP, BP, SP, 9BA and SA disclaims beneficial ownership of any securities except to the extent of its pecuniary interest therein.

SEC source: 0000919574-20-007016 · ownership.xml · nonDerivative · entry 1

Berkshire Partners Holdings LLC · CIK 0001597786 · 10% owner

BPSP, L.P. · CIK 0001597787 · 10% owner

Berkshire Partners LLC · CIK 0001312988 · 10% owner

Stockbridge Partners LLC · CIK 0001505183 · 10% owner

Berkshire Fund IX, L.P. · CIK 0001658315 · 10% owner

Berkshire Fund IX-A, L.P. · CIK 0001658319 · 10% owner

Stockbridge Fund, L.P. · CIK 0001501625 · 10% owner

Stockbridge Absolute Return Fund, L.P. · CIK 0001505182 · 10% owner

Berkshire Investors III LLC · CIK 0001505184 · 10% owner

Berkshire Investors IV LLC · CIK 0001505185 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 12,486,309

F5 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions within the range of $64.3200 to $65.3199. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.

F1 · ownership.nature: Represents shares that may be deemed to be indirectly beneficially owned by Berkshire Partners Holdings LLC ("BPH"), BPSP, L.P. ("BPSP"), Stockbridge Partners LLC ("SP") and Berkshire Partners LLC ("BP"). Berkshire Fund IX, L.P. ("BF IX") holds 6,015,123 shares of the Issuer's common stock, and Berkshire Fund IX-A, L.P. ("BF IX-A") holds 2,464,083 shares of the Issuer's common stock. Ninth Berkshire Associates LLC ("9BA") is the general partner of BF IX and BF IX-A. Stockbridge Fund, L.P. (f/k/a Stockbridge Special Situations Fund, L.P.) ("SF") holds 3,344,977 shares of the Issuer's common stock, Stockbridge Absolute Return Fund, L.P. ("SARF") holds 9,846 shares of the Issuer's common stock, and SP holds 607,680 shares of the Issuer's common stock on behalf of certain other accounts. Stockbridge Associates LLC ("SA") is the general partner of SF and SARF.

F2 · ownership.nature: (Continued from Footnote 1) BPH is the general partner of BPSP, which is the managing member of each of SP, the registered investment adviser of SF, SARF and certain other accounts holding shares of the Issuer, and BP, the registered investment adviser of BF IX and BF IX-A. As the managing member of SP and BP, BPSP may be deemed to beneficially own shares of common stock that are beneficially owned by SP and BP. As the general partner of BPSP, BPH may be deemed to beneficially own shares of common stock that are beneficially owned by BPSP. BPH, BPSP, BP, SP, 9BA and SA are under common control and may be deemed to be, but do not admit to being, a group for purposes of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended (the "Act"). Each of BPH, BPSP, BP, SP, 9BA and SA disclaims beneficial ownership of any securities except to the extent of its pecuniary interest therein.

SEC source: 0000919574-20-007011 · ownership.xml · nonDerivative · entry 2

JONES ROSS M · CIK 0001267629 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 12,442,509

F6 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions within the range of $65.3200 to $65.5300. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.

F1 · ownership.nature: Represents shares held by Berkshire Fund IX, L.P. ("BF IX"), Berkshire Fund IX-A, L.P. ("BF IX-A"), Stockbridge Fund, L.P. ("SF"), Stockbridge Absolute Return Fund, L.P. ("SARF") and certain other accounts. Ninth Berkshire Associates LLC ("9BA") is the general partner of BF IX and BF IX-A, and Stockbridge Associates LLC ("SA") is the general partner of SF and SARF. Berkshire Partners LLC ("BP") is the investment adviser to BF IX and BF IX-A, and Stockbridge Partners LLC ("SP") is the investment adviser to SF, SARF and such certain other accounts. Berkshire Partners Holdings LLC ("BPH") is the general partner of BPSP, L.P. ("BPSP"), which is the managing member of BP and SP.

F2 · ownership.nature: (continued from Footnote 1) The Reporting Person is a managing member of BPH, BPSP, BP, SP, 9BA and SA. By virtue of the relationships described in the preceding sentences, the Reporting Person may be deemed to share beneficial ownership with respect to the shares of common stock held by BF IX, BF IX-A, SF, SARF and such other accounts. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purpose.

SEC source: 0000919574-20-007011 · ownership.xml · nonDerivative · entry 1

JONES ROSS M · CIK 0001267629 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 12,486,309

F5 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions within the range of $64.3200 to $65.3199. The Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote.

F1 · ownership.nature: Represents shares held by Berkshire Fund IX, L.P. ("BF IX"), Berkshire Fund IX-A, L.P. ("BF IX-A"), Stockbridge Fund, L.P. ("SF"), Stockbridge Absolute Return Fund, L.P. ("SARF") and certain other accounts. Ninth Berkshire Associates LLC ("9BA") is the general partner of BF IX and BF IX-A, and Stockbridge Associates LLC ("SA") is the general partner of SF and SARF. Berkshire Partners LLC ("BP") is the investment adviser to BF IX and BF IX-A, and Stockbridge Partners LLC ("SP") is the investment adviser to SF, SARF and such certain other accounts. Berkshire Partners Holdings LLC ("BPH") is the general partner of BPSP, L.P. ("BPSP"), which is the managing member of BP and SP.

F2 · ownership.nature: (continued from Footnote 1) The Reporting Person is a managing member of BPH, BPSP, BP, SP, 9BA and SA. By virtue of the relationships described in the preceding sentences, the Reporting Person may be deemed to share beneficial ownership with respect to the shares of common stock held by BF IX, BF IX-A, SF, SARF and such other accounts. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purpose.

SEC source: 0000899243-20-030832 · doc4.xml · derivative · entry 5

HARVEY DARIN S. · CIK 0001756972 · EVP, Supply Chain & Logistics

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 7,812

Underlying: Common Stock · 3,907 shares

Expires 2029-05-21

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F4 · derivative.exercise_date: The options vest in three equal annual installments beginning on May 21, 2020, provided that the Reporting Person remains continuously employed by the Issuer through each applicable vesting date.

SEC source: 0000899243-20-030832 · doc4.xml · derivative · entry 4

HARVEY DARIN S. · CIK 0001756972 · EVP, Supply Chain & Logistics

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,079

Underlying: Common Stock · 4,159 shares

Expires 2028-10-14

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · derivative.exercise_date: The options vest in three equal annual installments beginning on October 14, 2019, provided that the Reporting Person remains continuously employed by the Issuer through each applicable vesting date.

SEC source: 0000899243-20-030832 · doc4.xml · nonDerivative · entry 3

HARVEY DARIN S. · CIK 0001756972 · EVP, Supply Chain & Logistics

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,799

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $63.05 to $63.99, inclusive. The reporting person undertakes to provide to Advanced Drainage Systems, Inc., any security holder of Advanced Drainage Systems, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (2) to this Form 4.

SEC source: 0000899243-20-030832 · doc4.xml · nonDerivative · entry 2

HARVEY DARIN S. · CIK 0001756972 · EVP, Supply Chain & Logistics

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 14,865

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: Reflects the exercise by the Reporting Person of stock options (right to buy) previously granted by the Issuer.

SEC source: 0000899243-20-030832 · doc4.xml · nonDerivative · entry 1

HARVEY DARIN S. · CIK 0001756972 · EVP, Supply Chain & Logistics

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 10,958

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: Reflects the exercise by the Reporting Person of stock options (right to buy) previously granted by the Issuer.

SEC source: 0000899243-20-030833 · doc4.xml · nonDerivative · entry 1

Cottrill Scott A · CIK 0001343378 · EVP, CFO AND SECRETARY

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 36,038

F1 · shares: Represents shares withheld to satisfy the Reporting Person's tax obligations in connection with the vesting of shares of restricted common stock of the Issuer.

SEC source: 0000899243-20-030834 · doc4.xml · nonDerivative · entry 6

Haney Mark · CIK 0001582073 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 21,644

F6 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $67.02 to $67.48, inclusive. The reporting person undertakes to provide to Advanced Drainage Systems, Inc., any security holder of Advanced Drainage Systems, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (6) to this Form 4.

SEC source: 0000899243-20-030834 · doc4.xml · nonDerivative · entry 5

Haney Mark · CIK 0001582073 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 22,644

F5 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $66.02 to $66.96, inclusive. The reporting person undertakes to provide to Advanced Drainage Systems, Inc., any security holder of Advanced Drainage Systems, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (5) to this Form 4.

SEC source: 0000899243-20-030834 · doc4.xml · nonDerivative · entry 4

Haney Mark · CIK 0001582073 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,292

F4 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $64.97 to $65.82, inclusive. The reporting person undertakes to provide to Advanced Drainage Systems, Inc., any security holder of Advanced Drainage Systems, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (4) to this Form 4.

SEC source: 0000899243-20-030834 · doc4.xml · nonDerivative · entry 3

Haney Mark · CIK 0001582073 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 25,892

F3 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $63.94 to $64.64, inclusive. The reporting person undertakes to provide to Advanced Drainage Systems, Inc., any security holder of Advanced Drainage Systems, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (3) to this Form 4.

SEC source: 0000899243-20-030834 · doc4.xml · nonDerivative · entry 2

Haney Mark · CIK 0001582073 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 26,992

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $62.93 to $63.71, inclusive. The reporting person undertakes to provide to Advanced Drainage Systems, Inc., any security holder of Advanced Drainage Systems, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (2) to this Form 4.

SEC source: 0000899243-20-030834 · doc4.xml · nonDerivative · entry 1

Haney Mark · CIK 0001582073 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 28,313

F1 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $61.93 to $62.90, inclusive. The reporting person undertakes to provide to Advanced Drainage Systems, Inc., any security holder of Advanced Drainage Systems, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (1) to this Form 4.

SEC source: 0000899243-20-028516 · doc4.xml · nonDerivative · entry 1

HARVEY DARIN S. · CIK 0001756972 · EVP, Supply Chain & Logistics

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 6,799

SEC source: 0000899243-20-027727 · doc4.xml · derivative · entry 2

KING BRIAN W. · CIK 0001824317 · Executive Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,608

Underlying: Common Stock · 5,608 shares

Expires 2030-09-07

F1 · derivative.exercise_date: The options vest in three equal annual installments beginning on September 7, 2021, provided that the Reporting Person remains continuously employed by the Issuer through each applicable vesting date.

SEC source: 0000899243-20-027727 · doc4.xml · nonDerivative · entry 1

KING BRIAN W. · CIK 0001824317 · Executive Vice President

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,820

SEC source: 0000899243-20-024160 · doc4.xml · nonDerivative · entry 1

CHAIBI ANESA · CIK 0001579752 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 2,036

SEC source: 0000899243-20-023207 · doc4.xml · derivative · entry 3

MAKOWSKI TIM A · CIK 0001672236 · See Remarks

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,408

Underlying: Common Stock · 7,000 shares

Expires 2026-03-31

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F3 · derivative.exercise_date: The options vest in five equal annual installments beginning on April 7, 2017, provided that the Reporting Person remains continuously employed by the Issuer through each applicable vesting date.

SEC source: 0000899243-20-023207 · doc4.xml · nonDerivative · entry 2

MAKOWSKI TIM A · CIK 0001672236 · See Remarks

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,074

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $59.01 to $59.84, inclusive. The reporting person undertakes to provide to Advanced Drainage Systems, Inc., any security holder of Advanced Drainage Systems, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (2) to this Form 4.

SEC source: 0000899243-20-023207 · doc4.xml · nonDerivative · entry 1

MAKOWSKI TIM A · CIK 0001672236 · See Remarks

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 12,074

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: Reflects the exercise by the Reporting Person of stock options (right to buy) previously granted by the Issuer.

SEC source: 0000899243-20-022598 · doc4.xml · derivative · entry 4

VITARELLI RONALD R · CIK 0001614379 · EVP

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 72,745

Underlying: Common Stock · 40,000 shares

Expires 2023-03-31

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F4 · derivative.exercise_date: The option vested in five equal installments beginning on September 1, 2014.

SEC source: 0000899243-20-022598 · doc4.xml · nonDerivative · entry 3

VITARELLI RONALD R · CIK 0001614379 · EVP

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 33,424

F3 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $57.96 to $58.55, inclusive. The reporting person undertakes to provide to Advanced Drainage Systems, Inc., any security holder of Advanced Drainage Systems, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (3) to this Form 4.

SEC source: 0000899243-20-022598 · doc4.xml · nonDerivative · entry 2

VITARELLI RONALD R · CIK 0001614379 · EVP

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 54,561

F2 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $56.96 to $57.95, inclusive. The reporting person undertakes to provide to Advanced Drainage Systems, Inc., any security holder of Advanced Drainage Systems, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (2) to this Form 4.

SEC source: 0000899243-20-022598 · doc4.xml · nonDerivative · entry 1

VITARELLI RONALD R · CIK 0001614379 · EVP

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 73,424

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F1 · kind: Reflects the exercise by the Reporting Person of stock options (right to buy) previously granted by the Issuer.

SEC source: 0000899243-20-022324 · doc4.xml · nonDerivative · entry 1

KLEIN ROBERT M · CIK 0001614367 · EVP, Sales

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 143,165

F1 · price: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $54.69 to $55.52, inclusive. The reporting person undertakes to provide to Advanced Drainage Systems, Inc., any security holder of Advanced Drainage Systems, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (1) to this Form 4.

SEC source: 0000899243-20-020489 · doc4.xml · derivative · entry 2

WAUN THOMAS J. SR. · CIK 0001815777 · SVP, International

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 5,512

Underlying: Common Stock · 5,512 shares

Expires 2030-06-14

F1 · derivative.exercise_date: The options vest in three equal annual installments beginning on June 14, 2021, provided that the Reporting Person remains continuously employed by the Issuer through each applicable vesting date.

SEC source: 0000899243-20-020489 · doc4.xml · nonDerivative · entry 1

WAUN THOMAS J. SR. · CIK 0001815777 · SVP, International

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 1,752

SEC source: 0000899243-20-020488 · doc4.xml · nonDerivative · entry 1

NELSON CARL A JR · CIK 0001229316 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 24,285

SEC source: 0000899243-20-020484 · doc4.xml · nonDerivative · entry 1

KIDDER C ROBERT · CIK 0001179703 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 33,346

SEC source: 0000899243-20-020487 · doc4.xml · nonDerivative · entry 1

COLEMAN MICHAEL B. · CIK 0001742480 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 7,521

SEC source: 0000899243-20-020490 · doc4.xml · nonDerivative · entry 1

JONES ROSS M · CIK 0001267629 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 14,058

SEC source: 0000899243-20-020492 · doc4.xml · nonDerivative · entry 1

PEREZ DE LA MESA MANUEL J · CIK 0001230654 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 9,233

SEC source: 0000899243-20-020485 · doc4.xml · nonDerivative · entry 1

Haney Mark · CIK 0001582073 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 31,644

SEC source: 0000899243-20-020493 · doc4.xml · nonDerivative · entry 1

FISCHER ALEXANDER R · CIK 0001614401 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 23,146

SEC source: 0000899243-20-020491 · doc4.xml · nonDerivative · entry 1

EVERSOLE ROBERT M · CIK 0001614400 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 61,841

SEC source: 0000899243-20-020486 · doc4.xml · nonDerivative · entry 1

FRATTO TANYA D · CIK 0001614408 · Director

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 23,159

SEC source: 0000919574-20-004114 · ownership.xml · nonDerivative · entry 3

Berkshire Partners Holdings LLC · CIK 0001597786 · 10% owner

BPSP, L.P. · CIK 0001597787 · 10% owner

Berkshire Partners LLC · CIK 0001312988 · 10% owner

Stockbridge Partners LLC · CIK 0001505183 · 10% owner

Berkshire Fund IX, L.P. · CIK 0001658315 · 10% owner

Berkshire Fund IX-A, L.P. · CIK 0001658319 · 10% owner

Stockbridge Fund, L.P. · CIK 0001501625 · 10% owner

Stockbridge Absolute Return Fund, L.P. · CIK 0001505182 · 10% owner

Berkshire Investors III LLC · CIK 0001505184 · 10% owner

Berkshire Investors IV LLC · CIK 0001505185 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 134,842

F4 · ownership.direct: Represents shares held directly by Berkshire Investors IV LLC. Berkshire Investors IV LLC may be deemed to be, but does not admit to being, a member of a group holding over 10% of the outstanding common stock of the Issuer for purposes of Section 13(d)(3) of the Act.

SEC source: 0000919574-20-004114 · ownership.xml · nonDerivative · entry 2

Berkshire Partners Holdings LLC · CIK 0001597786 · 10% owner

BPSP, L.P. · CIK 0001597787 · 10% owner

Berkshire Partners LLC · CIK 0001312988 · 10% owner

Stockbridge Partners LLC · CIK 0001505183 · 10% owner

Berkshire Fund IX, L.P. · CIK 0001658315 · 10% owner

Berkshire Fund IX-A, L.P. · CIK 0001658319 · 10% owner

Stockbridge Fund, L.P. · CIK 0001501625 · 10% owner

Stockbridge Absolute Return Fund, L.P. · CIK 0001505182 · 10% owner

Berkshire Investors III LLC · CIK 0001505184 · 10% owner

Berkshire Investors IV LLC · CIK 0001505185 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 143,357

F3 · ownership.direct: Represents shares held directly by Berkshire Investors III LLC. Berkshire Investors III LLC may be deemed to be, but does not admit to being, a member of a group holding over 10% of the outstanding common stock of the Issuer for purposes of Section 13(d)(3) of the Act.

SEC source: 0000919574-20-004114 · ownership.xml · nonDerivative · entry 1

Berkshire Partners Holdings LLC · CIK 0001597786 · 10% owner

BPSP, L.P. · CIK 0001597787 · 10% owner

Berkshire Partners LLC · CIK 0001312988 · 10% owner

Stockbridge Partners LLC · CIK 0001505183 · 10% owner

Berkshire Fund IX, L.P. · CIK 0001658315 · 10% owner

Berkshire Fund IX-A, L.P. · CIK 0001658319 · 10% owner

Stockbridge Fund, L.P. · CIK 0001501625 · 10% owner

Stockbridge Absolute Return Fund, L.P. · CIK 0001505182 · 10% owner

Berkshire Investors III LLC · CIK 0001505184 · 10% owner

Berkshire Investors IV LLC · CIK 0001505185 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 12,562,509

F1 · ownership.nature: Represents shares that may be deemed to be indirectly beneficially owned by Berkshire Partners Holdings LLC ("BPH"), BPSP, L.P. ("BPSP"), Stockbridge Partners LLC ("SP") and Berkshire Partners LLC ("BP"). Berkshire Fund IX, L.P. ("BF IX") holds 6,015,123 shares of the Issuer's common stock, and Berkshire Fund IX-A, L.P. ("BF IX-A") holds 2,464,083 shares of the Issuer's common stock. Ninth Berkshire Associates LLC ("9BA") is the general partner of BF IX and BF IX-A. Stockbridge Fund, L.P. (f/k/a Stockbridge Special Situations Fund, L.P.) ("SF") holds 3,344,977 shares of the Issuer's common stock, Stockbridge Absolute Return Fund, L.P. ("SARF") holds 10,192 shares of the Issuer's common stock, and SP holds 728,134 shares of the Issuer's common stock on behalf of certain other accounts. Stockbridge Associates LLC ("SA") is the general partner of SF and SARF.

F2 · ownership.nature: (Continued from Footnote 1) BPH is the general partner of BPSP, which is the managing member of each of SP, the registered investment adviser of SF, SARF and certain other accounts holding shares of the Issuer, and BP, the registered investment adviser of BF IX and BF IX-A. As the managing member of SP and BP, BPSP may be deemed to beneficially own shares of common stock that are beneficially owned by SP and BP. As the general partner of BPSP, BPH may be deemed to beneficially own shares of common stock that are beneficially owned by BPSP. BPH, BPSP, BP, SP, 9BA and SA are under common control and may be deemed to be, but do not admit to being, a group for purposes of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended (the "Act"). Each of BPH, BPSP, BP, SP, 9BA and SA disclaims beneficial ownership of any securities except to the extent of its pecuniary interest therein.

SEC source: 0000919574-20-004111 · ownership.xml · nonDerivative · entry 3

JONES ROSS M · CIK 0001267629 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · Berkshire Investors IV LLC

Disclosed balance after: 134,842

F4 · ownership.nature: Represents shares held by Berkshire Investors IV LLC ("BI IV"). The Reporting Person is a managing member of BI IV. By virtue of the relationship described in the preceding sentence, the Reporting Person may be deemed to share beneficial ownership with respect to the shares of common stock held by BI IV. The Reporting Person disclaims beneficial ownership of the shares held by BI IV, except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purpose.

SEC source: 0000919574-20-004111 · ownership.xml · nonDerivative · entry 2

JONES ROSS M · CIK 0001267629 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · Berkshire Investors III LLC

Disclosed balance after: 143,357

F3 · ownership.nature: Represents shares held by Berkshire Investors III LLC ("BI III"). The Reporting Person is a managing member of BI III. By virtue of the relationship described in the preceding sentence, the Reporting Person may be deemed to share beneficial ownership with respect to the shares of common stock held by BI III. The Reporting Person disclaims beneficial ownership of the shares held by BI III, except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purpose.

SEC source: 0000919574-20-004111 · ownership.xml · nonDerivative · entry 1

JONES ROSS M · CIK 0001267629 · Director

10b5-1 filing: Not disclosed

Ownership: Indirect · See Footnote

Disclosed balance after: 12,562,509

F1 · ownership.nature: Represents shares held by Berkshire Fund IX, L.P. ("BF IX"), Berkshire Fund IX-A, L.P. ("BF IX-A"), Stockbridge Fund, L.P. ("SF"), Stockbridge Absolute Return Fund, L.P. ("SARF") and certain other accounts. Ninth Berkshire Associates LLC ("9BA") is the general partner of BF IX and BF IX-A, and Stockbridge Associates LLC ("SA") is the general partner of SF and SARF. Berkshire Partners LLC ("BP") is the investment adviser to BF IX and BF IX-A, and Stockbridge Partners LLC ("SP") is the investment adviser to SF, SARF and such certain other accounts. Berkshire Partners Holdings LLC ("BPH") is the general partner of BPSP, L.P. ("BPSP"), which is the managing member of BP and SP.

F2 · ownership.nature: (continued from Footnote 1) The Reporting Person is a managing member of BPH, BPSP, BP, SP, 9BA and SA. By virtue of the relationships described in the preceding sentences, the Reporting Person may be deemed to share beneficial ownership with respect to the shares of common stock held by BF IX, BF IX-A, SF, SARF and such other accounts. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purpose.

SEC source: 0000899243-20-016566 · doc4.xml · derivative · entry 8

KLEIN ROBERT M · CIK 0001614367 · EVP, Sales

10b5-1 filing: Not disclosed

Ownership: Direct

Disclosed balance after: 8,594

Underlying: Common Stock · 4,297 shares

Expires 2029-05-21

Exercise/conversion can include RSU settlement. Transaction price and option strike are different fields; a missing price is not zero. Derivative and underlying rows can describe the same event.

F5 · derivative.exercise_date: The options vest in three equal annual installments beginning on May 21, 2020, provided that the Reporting Person remains continuously employed by the Issuer through each applicable vesting date.