Investor Presentaiton

BORAL Boral today: Performance, transformation & growth 1. Delivering strong results in Australia and maintaining leading positions • . Key supplier to Australia's booming infrastructure and strong residential and non-residential construction markets Reinvesting in valuable upstream quarry positions, low cost cement positions and downstream concrete & asphalt networks Solid margins with further improvements to come through excellence programs, innovation and price TODAY'S FOCUS: Excellence programs, challenges & opportunities, major projects, property, Queensland 2. Strong long-term growth platform with innovation-based competitive advantage in USG Boral • Leading plasterboard business in Asia, Australia and the Middle East Positioned well to respond to changes in demand cycles and competitive pressures TODAY'S FOCUS: Delivery against strategy, innovation, brand leadership, challenges & priorities 3. Delivering transformational growth in North America • Successful integration of Headwaters acquisition with substantial synergies Further growth through market recovery and innovation Addressing short-term operational issues Photo updates - from the diary of the CEO Boral North America - Oceanside, California Plant Optimisation is delivering substantial improvements in efficiencies Overall Equipment Effectiveness (OEE) and Reject Rates, Oceanside Metal Roofing Plant, California OEE 80% 70% 60% 50% 40% 7% OEE target of >70% - 6% 5% 369 4% 3% 30% 20% 10% Rejects to be <2% 2% 1% 0% 0% Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 ⚫OEE Reject Rate Reject Rate 3 BORAL Monthly OEE reporting implemented at end of 2017 In 4 months: OEE lifted from 22% to 52% reject rates reduced from 6.0% to 3.4% Plant optimisation expected to improve costs 4

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