Investor Presentaiton

EASYFINISH™M OPPORTUNITY TO CONVERT CEMENT RENDER TO PLASTERBOARD ACROSS SE ASIA Plasterboard vs cement render demand¹ mm² ~645 USG BORAL INNOVATION INSPIRED BY YOU." Plasterboard demand per capita¹ m² p.a. per person India² 0.1 Philippines 0.2 Malaysia 0.6 -290 Vietnam 0.6 Indonesia 0.4 Thailand 1.3 Plasterboard Cement render South Korea² 5.8 Thailand Indonesia Vietnam Malaysia ● Philippines Australia² 7.4 0 5 10 1. USG Boral management estimates 2. Included for comparative purposes RESPONDING TO OPPORTUNITIES AND CHALLENGES • • USG BORAL INNOVATION INSPIRED BY YOU." Australia Knauf Bundaberg started in Queensland Grow innovation and commercial segment Building a niche, high-end position in New Zealand with SheetrockⓇ from Pinkenba South Korea Competitor capacity expansion has started Optimised customer / product mix and margins following termination of long-term supply agreement with Byucksan Innovation and commercial segment China Significant paper and gypsum inflation and tight supply Successfully achieving strong price increases Strong business performance in high-end, growing SheetrockⓇ penetration and new product offerings, focus on home deco segment . • Thailand and Indonesia Protracted soft construction markets, cost inflation and new entrants/capacity Protect premium brand with development of a mid-tier brand Accelerate penetration of plasterboard in cement render segment with EasyFinish™ Grow exports from Thailand Other countries Vietnam: strong growth, benefits from SheetrockⓇ but competitive price pressures Philippines: strong growth with well recognised brand India: Strong growth with significant potential 75 76

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