Whole Life Value Optimization of Boral Quarries

Financials We are focused improving our cash and commodity management with renewed focus Cash ■ Heavy focus on all elements of cash conversion cycle All elements under focus - DPO, DSO and DOH ■ Tighter capital spend with tighter capital allocation ■ Cash related metrics e.g. disputes part of sales teams Incentive program for FY24 ☐ Significant work on outstanding customer disputes and debtors aging continuing in June for year end Progress 0% 100% Commodity & FX management ■ Management's strategy focuses on reducing usages of fossil fuels and substituting alternative fuels to minimise reliance on coal and gas. Our hedging strategy involves decoupling commodity and currency exposures and strategically eliminating the price risk volatility in our P&L. Commodity Hedging Strategy Coal Clinker Diesel Electricity Natural Gas Reduce usage through the increase in alternative fuel usage Eliminating currency risk by locking in AUD/USD hedges Renewing current purchasing contracts and diversifying the supplier mix Ensuring USD import price risk is hedged in AUD Seeking opportunities to mitigate commodity price risk through hedging the curve in backwardation Fixed price Power Purchase Agreement "PPA" expected to start April 2025 which is estimated to provide ~17% of electricity requirement. Actively hedging electricity contracts, specifically targeting winter quarters where price volatility is expected Become a gas market participant(Self contracting Unit). Alleviate price risk volatility by hedging derivatives in the STTM market and/or locking the purchase price via purchasing with gas producers. FY24 hedge level Currency risk 1HFY24 100% hedged Currency risk 1HFY24 100% hedged Commodity -50% for FY24 hedged Currency risk 1HFY24 100% hedged 33% of the Electricity for FY24 hedged via baseload contracts 17% of the Natural Gas for FY24 hedged 15

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