The American Plywood Association (APA), won't define what it means since it really varies based upon a lot of environmental conditions. Humidity, temperature, length of time, amount of water, amount of slope to shed water, etc.... They leave it open ended to cover themselves. The closest you'll find is something like this
Quote:
Exposure 1 panels may be used
for applications where construction delays may be
expected prior to providing protection or where exposure to
the outdoors is on the underside only
|
Source:
https://www.apawood.org/Data/Sites/1...-datasheet.pdf
You will also see language that says something like it's permitted for 'short period of time or Exterior Exposure is required for extended periods of time'. So you are really on your own to figure it out. As long as you don't get warping or delamination and its dried out after it gets wet and before finishes you typically are fine. It's not uncommon to put a small gap between panels (1/8" to account for swelling per APA recommendations). I've seen some builders spray sealant on plywood when they've been working in very wet seasons and anticipate it being exposed for longer then they'd like.