Investor Presentaiton

Content BORAL® 1. Overview of the transaction / strategic rationale 2. USG's IP / Technology and adjacent products 3. JV's combined footprint and markets 4. Synergies 5. Key transaction terms 6. Company specific factors 7. Summary Appendix USG 31 BORAL® Creating a world-leading plasterboard and ceilings partnership in Asia, Australasia and the Middle East USG Core Competitive Advantages ■ World leading gypsum, ceilings, and joint compound technologies ■ Market leader across Asia Pacific region Experienced management and operating team Strengthened platform to drive revenue and margin growth World Class Capacity ■ World class production capacity across Asia, Australasia and the Middle East Sales, marketing, and logistics excellence and commercial leverage BORAL asset platform Strong Growth Potential Strong underlying economic growth forecast across key markets ■Combined platform provides unrivalled foundation for growth Volume growth supported by >200m m² currently unused capacity¹ USG technology platform Market Leading Positions Combined capability to deliver significant synergies Strong brands respected for quality and reliability ■ Extensive logistics and distribution network in Asia, Australasia and the Middle East Deep customer relationships 1. Based on 69% asset utilisation for year ended 30 June 2013 and includes capacity expansion projects at Ho Chi Minh City (Vietnam) and Chongqing (China) and construction of new plant in Oman to be completed in CY2014 32

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