Investor Presentaiton

Flexible East Coast Cement Network NSW cement operations are key to Boral's network flexibility Clinker sourcing Product range Supply chain BORAL Vessel discharge Berrima costs below import parity with strong operational excellence focus ■ Boral imports clinker into Port of Geelong and Brisbane with optionality in Port Kembla ■ Off white manufacturing and slag processing capability Maldon mill upgrade ■Maldon mill upgrade enables product supply optimisation ■ Maldon blend products including slag and off white Package products targeting DIY / builders segment Fly ash sourced from FAA JV Cement train Berrima & Maldon rail linked for low cost delivery to metro ■ NSW rail network allows economic interstate supply Road and rail is used to optimise the supply chain of our integrated business Securing Berrima Cement Position Building on our strong cost position and actively managing our energy position Berrima Cost Base Berrima Cost Base Split Electricity Wholesale Electricity Prices Other Raw materials 120 22% 100 25% Kiln 17% Fuel $/ MWh 60 40 17% Payroll 20 13% 6% Maintenance 22 80 QLD VIC NSW Kiln Fuel Alternative Fuels BORAL Electricity Source: Internal Estimates Energy is 30% of Berrima costs ■ Raw materials, payroll and maintenance the majority of costs ■ Continuous improvement will offset anticipated future cost increases FY12 FY13 FY14. FY15 FY16 FY17 YTD Source: AEMO as at 31 March 2018 Electricity prices have risen in NSW, QLD and VIC ■ Berrima electricity exposure actively managed including shifting production to low cost time of day Under construction alternative fuel loader at Berrima using resource derived fuel (cellulose product) in the clinker kiln ■ Boral will shortly complete a -$10m upgrade to allow alternative fuels to substitute coal usage up to 30% Optimising Marulan lime kiln fuel by using less gas and more coal 39 40

View entire presentation