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S E PT E MB E R 1 5 | NY C BUILT TO OUTPERFORM, RESILIENT BY DESIGN
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2INVESTOR DAY 2026 VP, Investor Relations Welcome and Opening Remarks Bill Seymour
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3INVESTOR DAY 2026 Cautionary Note and Use of Non -GAAP Measures This presentation contains forward looking statements, including within the meaning of the Private Securities Litigation Reform Act of 1995. James Hardie Industries plc (the “Company”) may from time to time make forward-looking statements in its periodic reports filed with or furnished to the Securities and Exchange Commission on Forms 10-K, 10-Q and 8-K and similar reports lodged with the Australian Securities Exchange, in its annual reports to shareholders, in media releases and other written materials, such as this presentation, and in oral statements made by the Company’s officers, directors or employees to analysts, institutional investors, representatives of the media and others. Words such as “believe,” “anticipate,” “plan,” “expect,” “intend,” “target,” “estimate,” “project,” “predict,” “forecast,” “guideline,” “aim,” “will,” “should,” “likely,” “continue,” “may,” “objective,” “outlook” and similar expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. These forward-looking statements are based upon management's current expectations, estimates, assumptions, beliefs and general good faith evaluation of information available at the time the forward-looking statements were made concerning future events and conditions. Readers are cautioned not to place undue reliance on any forward- looking statements or rely upon them as a guarantee of future performance or results or as an accurate indication of the times at or by which any such performance or results will be achieved. Forward- looking statements are necessarily subject to risks, uncertainties and other factors, many of which are unforeseeable and beyond the Company’s control. Many factors could cause actual results, performance or achievements to be materially different from those expressed or implied in this presentation, including, among others, the risks and uncertainties set forth in Part 1, Item 1A “Risk Factors” in James Hardie’s Annual Report on Form 10-K for the year ended March 31, 2026, which include, but are not necessarily limited to risks such as changes in general economic, political, governmental and business conditions globally and in the countries in which the Company does business; changes in interest rates; changes in inflation rates; changes in exchange rates; the level of construction generally; changes in raw material and energy prices; changes in business strategy; the AZEK integration and anticipated benefits and various other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein. The Company assumes no obligation to update or correct the information contained in this presentation except as required by law. The Company obtained the industry and market and competitive position data used throughout this presentation from its own internal estimates and research, as well as from industry and general publications. Internal estimates are derived from information released by industry analysts and third-party sources, internal research and internal industry experience, and are based on assumptions made based on that information and the Company’s knowledge of its industry and market, which are believed to be reasonable. The industry and market data involve risks and uncertainties and are subject to change based on various factors that could cause results to differ materially from those expressed in, or implied by, the estimates made by independent parties and by us. Furthermore, we cannot assure you that a third party using different methods to assemble, analyze or compute industry and market data would obtain the same results. In some cases, we do not expressly refer to the sources from which data is derived. All trademarks included in this presentation are the property of their respective owners. The Company maintains a significant number of trademarks, including Hardie®, TimberTech ®, AZEK®, AZEK Exteriors®, Versatex®, and StruXure®. This presentation includes financial measures that are not considered a measure of financial performance under generally accepted accounting principles in the United States (GAAP). These financial measures are designed to provide investors with an alternative method for assessing our performance from on-going operations, capital efficiency and profit generation. Management uses these financial measures for the same purposes. These financial measures are or may be non-GAAP financial measures as defined in the rules of the U.S. Securities and Exchange Commission and may exclude or include amounts that are included or excluded, as applicable, in the calculation of the most directly comparable financial measures calculated in accordance with GAAP. These non-GAAP financial measures should not be considered to be more meaningful than the equivalent GAAP measure. Management has included such measures to provide investors with an alternative method for assessing its operating results in a manner that is focused on the performance of its ongoing operations and excludes the impact of certain legacy items, such as asbestos adjustments, or significant non-recurring items, such as asset impairments, restructuring gain or expenses, acquisition and pre-close financing related costs, as well as share-based compensation expense and adjustments to tax expense. Additionally, management uses such non-GAAP financial measures for the same purposes. However, these non-GAAP financial measures are not prepared in accordance with GAAP, may not be reported by all of the Company’s competitors and may not be directly comparable to similarly titled measures of the Company’s competitors due to potential differences in the exact method of calculation. For additional information regarding the non-GAAP financial measures presented in this presentation, including a reconciliation of each non-GAAP financial measure to the equivalent GAAP measure, see slides titled “Non-GAAP Financial Measures” included in the appendix. All comparisons made are vs. the comparable period in the prior fiscal year, which runs from April 1 to March 31, and amounts presented are in U.S. dollars, in each case unless otherwise noted.
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4INVESTOR DAY 2026 Today’s Agenda 8:30 AM Welcome and Opening Remarks Bill Seymour VP, Investor Relations Built to Outperform, Resilient by Design Aaron Erter Chief Executive Officer North America Conversion Opportunity Jon Skelly President & GM, NA Building Products Group Driving Conversion and Commercial Synergies John Madson Chief Sales Officer Accelerating Brand Leadership Sam Toole Chief Marketing Officer 9:50 AM Q&A Session 10:15 AM Break 10:30 AM Operations Powering Growth and Margin Expansion Ryan Kilcullen Chief Operations Officer Financial Overview and Value Creation Ryan Lada Chief Financial Officer Closing Remarks Aaron Erter Chief Executive Officer 11:15 AM Q&A Session 12:00 PM Leadership Luncheon and Product Demos
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6INVESTOR DAY 2026 Chief Executive Officer Built to Outperform, Resilient by Design Aaron Erter
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7INVESTOR DAY 2026 Investment Thesis: Built to Outperform, Resilient by Design ✓ $23B material conversion opportunity ✓ Fiber cement and DR&A growth initiatives ✓ $500M commercial synergies1 ✓ Brands ✓ Product portfolio ✓ Manufacturing ✓ Hardie Operating System (HOS) ✓ Deep relationships ✓ Commercial strategy ✓ Consistent above- market growth ✓ Adj. EBITDA and EPS leverage ✓ Improved ROIC2 ✓ Higher FCF Conversion ✓ Lower CapEx ✓ Clear path to Deleveraging ✓ Future capital allocation optionality ✓ Great team – best of both ✓ Delivery against financial commitments ✓ Management incentives aligned with shareholders 1 Delivering Growth Above Market – Not Cycle Dependent 2 Enduring Competitive Advantages 3 4 Compelling Growth Algorithm with Compounding Earnings 5 Delivering Consistent Execution to Build Long-term Value Enhanced Free Cash Flow – with Deleveraging 7INVESTOR DAY 2026 1 Represents anticipated commercial synergies related to the AZEK transaction. 2 ROIC is defined as Net Operating Profit After Tax divided by Adjusted Invested Capital. Net Operating Profit After Tax is defined as Adjusted EBITDA minus Depreciation and Amortization, times 1 minus the Company’s Adjusted Effe ctive Tax Rate, where Adjusted EBITDA, Depreciation and Amortization, and the Adjusted Effective Tax Rate are all as reported in the Company’s financials and supplemental docume nts. Adjusted Invested Capital is defined as operating assets minus operating liabilities, adjusted to exclude deferred tax assets and liabilities, dividends payable, and asbestos assets and liabilities. Under this operating -capital approach, cash and debt are excluded, and goodwill and intangibles are included.
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8INVESTOR DAY 2026 Today’s Presenters: Best of Both 1 Indicates year of joining legacy AZEK. Aaron Erter Chief Executive Officer Joined: 2022 Jon Skelly President & GM, NA Building Products Group 20181 John Madson Chief Sales Officer 2004 Sam Toole Chief Marketing Officer 20211 Ryan Kilcullen Chief Operating Officer 2007 Ryan Lada Chief Financial Officer 20221 8INVESTOR DAY 2026
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9INVESTOR DAY 2026 James Hardie Snapshot Purpose Building a Better Future for All Vision To Inspire How Communities Design, Build and Grow Today and Tomorrow Mission Be the Most Respected and Desired Building Materials Brand in the World Values • Starts and Ends with the Customer • Honor Our Commitments • Do the Right Thing • Be Bold and Progressive • Embrace Our Diversity • Collaborate for Greatness Key Statistics Ticker (NYSE & ASX) JHX North America HQ Chicago, IL Global Employees ~7,500 PF FY26 Net Sales $5.3B PF FY26 Adj. EBITDA $1.4B PF FY26 Adj. EBITDA Margin 27.2% 79% 11% 10% North America Europe ANZ Total Net Sales by Geography NA Net Sales by Product Category FC Exteriors FC Interiors PVC Exteriors DR&A 57% 43% NA Net Sales by End-market Repair & Remodel New Construction 60% 5% 9% 27% Note: All financials and net sales breakdowns are based on the James Hardie 2026 fiscal year, are inclusive of AZEK Residenti al net sales and Adjusted EBITDA over the corresponding period. The data is pro forma inclusive of contribution from AZEK before acquisition. Effective as of June 30, 2026, the Company revi sed the definition of Adjusted EBITDA and Adjusted EBITDA Margin to exclude share -based compensation expense. FY26 has been recast to reflect the change. Refer to the appendix for reconc iliations for pro forma revenue, pro forma Adjusted EBITDA and pro forma Adjusted EBITDA Margin. Global employee count as of March 31, 2026. Breakdown percentages might not add up to 100% due to rounding. North America “NA” is reflective of the combined North America segments, Siding & Trim and Deck, Rail & Accessories. NA Net Sales by End Market is an estimate based on Principia data and management estimates.
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10INVESTOR DAY 2026 North America Operations Overview Note: All financial figures reflect FY26 pro forma results. Pro forma includes AZEK results for FYQ126. Adjusted EBITDA and A djusted EBITDA Margin are non -GAAP financial measures. Refer to the appendix for reconciliations to the most comparable GAAP financial measures. $3.1B PF FY26 Net Sales $981M PF FY26 Adj. EBITDA 32.1% PF FY26 Adj. EBITDA Margin Siding & Trim $1.1B PF FY26 Net Sales $331M PF FY26 Adj. EBITDA 29.7% PF FY26 Adj. EBITDA Margin Deck, Rail & Accessories Regional HQ (3) R&D (2) Claims (1) 2 2 Recycling (5) Siding & Trim Manufacturing (12) DR&A Manufacturing ( 9) Location Type
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11INVESTOR DAY 2026 International Operations Overview 1 AAC: Autoclaved Aerated Concrete. 2 As of August 20, 2026. 3 Based on Europe segment FY26 EBITDA. Adjusted EBITDA and Adjusted EBITDA Margin are non -GAAP financial measures. Refer to the appendix for reconciliations to the most comparable GAAP financial measures. Manufacturing Facility Manufacturing + R&D Operations Strategic Priorities • Defend and expand Fiber Cement, investing in product, on-the-wall-cost and installation • Accelerate exteriors growth with Hardie Gravis Panel (AAC1); incubator for potential global expansion • Expand into outdoor living categories with AZEK technology Australia & New Zealand (ANZ) Transforming into a leading building products business FY26 Net Sales $521M Adj. EBITDA $178M Adj. EBITDA Margin 34.1% Europe Divesting Operations Sale Price: ~$980M2 Accretive to Adj. EBITDA Margin Proceeds expected to be used for debt paydown and share repurchases EBITDA Multiple: ~12x3 Expected Transaction Close: 1H CY27
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12INVESTOR DAY 2026 Harnessing the Best of Both James Hardie + AZEK: Significant Progress 14 Months Post Close 1 Original commercial synergy target by FY2030. Original cost synergy target by FY2028. 2 SAM = Serviceable addressable market. 3 CBUSA = Custom Builders USA. Lansing = Lansing Building Products. 4 HOS = Hardie Operating System. HOS4 implemented across AZEK Improving channel inventory visibility in Fiber Cement OPERATIONAL Footprint optimization – closed two older plants New management team – best of both Unified 500+ person salesforce COMMERCIAL CBUSA (preferred, full portfolio) and Lansing (PVC Trim Exclusive)3 Boise Cascade – exclusive national 2-step distribution partnership Regional 2-step distributers – expanded partnerships $500M1 commercial synergies – on track with significant momentum FINANCIAL $125M1 cost synergies – ahead of schedule SAM2 expansion: $10B to $23B
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13INVESTOR DAY 2026 ~35M Homes 20 – 40 Years Old4 4M U.S. Homes Currently Undersupplied6 ~10M Homes Built with Vinyl Siding Over Last 30+ Y ears5 Growth Supported by Long -term Secular Trends TAM1,3 Remaining Conversion Opportunity by Volume Siding $12B ~74% Other Exteriors (including Trim) $4B ~74% Decking $6B ~73% Railing $4B ~68% Pergolas / Structures $1B ~85% 1 TAM = Total Addressable Market. 2 SAM = Serviceable Addressable Market. 3 Data source: Principia. North America. 4 Source: Census Bureau data. 5 Source: U.S. Census Bureau, Primary Type of Exterior Wall Material of New Single -Family Houses Completed. 6 Source: Goldman Sachs Research, “The Outlook for US Housing Supply and Affordability,” October 2025. 7 Nadra.org. 8 Wildland-Urban Interface. ~$27B TAM1 ~$23B SAM2 ~60M / 50% T otal US Decks / Past Useful Life7 Substantial Material Conversion Runway; Long-term Structural Tailwinds 1/3 U.S. Homes in WUI8 Zones
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14INVESTOR DAY 2026 The Home of Resilient Beauty AZEK Trim Hardie Siding TimberTech Decking StruXure Pergola TimberTech Railing Complete Portfolio of Exterior Building Products James Hardie – The Home of Resilient Beauty
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15INVESTOR DAY 2026 Iconic Brands in Building Products Note: Competitive positions by product type based on most recently available Company data and product type revenue data from Principia as of 2024. Brand awareness positions reflective of internal Company data. Siding Railing Recycling Trim / Other Exteriors Decking Pergolas / Structures Homeowner Brand Awareness#2 Hard Siding#1 PVC Decking#1 Fiber Cement Trim#1 PVC Railing#1 North America Siding Brand#1 Pro Brand Awareness#1 Aluminum Substructures#1 Composite Railing#2 Vertically Integrated Recycler of PVC in NA #1 Brand Awareness#1 Exterior PVC Trim#1 Aluminum Pergolas#1 Aluminum Railing#2 Composite Decking#2
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16INVESTOR DAY 2026 Combining National Scale through Boise Cascade with Regional Distributors to Win Market by Market Unmatched Distribution Breadth across the U.S. 1 Trailing twelve months (TTM) as of 3/31/2026. BMD is Boise Cascade’s core distribution segment. 2 FC = Fiber Cement. 3 DR&A = Deck, Rail & Accessories. NATIONAL SCALE + DECKING EXPANSION • Extend national footprint with added density in priority markets • Deepen local penetration through relationships and market expertise • Expand cross-sell opportunity across Siding, Trim and DR&A3 • National platform to scale full-line 2-step distribution • Full-line model already proven in market with 2025 pilots • Combined go-to-market approach supports cross-sell ~$5.9B TTM BMD Revenue1 40 Distribution Locations ~750 BMD Sales Employees BEST-IN-CLASS REGIONAL PARTNERS Boise Cascade Regional Partner LOCAL MARKET DEPTH + FC2 EXPANSION
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17INVESTOR DAY 2026 Enduring Competitive Advantages 1 FM Global Insurance Summary. Cost to replace existing NA manufacturing infrastructure with new plants. 2 Based on population located within 500 miles of a plant site. Note: Competitive positions by product type based on most recently available Company data and product type revenue data from Principia as of 2024. Leading, Trusted Brands Deep Relationships across Value Chain Differentiated Commercial Strategy Scaled, Localized Manufacturing Resilient Product Portfolio Hardie Operating System (HOS) #1 Hard Siding Brand #1 Fiber Cement and Exterior PVC Trim Brands #1 PVC Decking Brand 1,000+ One-step Customers 14,500+ Dealer Locations 30,000+ Pro Contractors 500+ Person Salesforce Regional Strategies to Win Locally Leveraging Distributor Sales Infrastructure $8B Replacement Cost1 90% of Plants within 1 Day of Customer2 Efficient Supply Chains Fire-rated, Climate-engineered Durability Strong History of Innovation #1 Vertically Integrated Recycler of PVC in NA Continuous Improvement Reduces Material Costs Advanced Manufacturing
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18INVESTOR DAY 2026 Strategic Priorities to Drive Long -term Profitable Growth Enhance Homeowner & Pro Journey Providing a best-in- class, integrated experience as the preferred industry supplier Extend Brand Leadership Establishing James Hardie as the undisputed leader in resilient exterior home solutions Advance Product Innovation Developing and delivering the most beautiful and best performing products Drive Channel Expansion Leveraging expanded portfolio and complementary geographic focus to accelerate growth Accelerate Material Conversion Converting inferior materials and accelerating premium products Homeowner Focused, Customer and Contractor Driven Driving Value Creation and Enterprise Efficiencies Hardie Operating System Technology
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19INVESTOR DAY 2026 James Hardie North America Growth Algorithm 19INVESTOR DAY 2026 Bolt-on M&A Market Improvement Targeting Annual Organic Growth of 4% to 7% Above Market Additional Upside Potential 35%+ Target Adj. EBITDA Flowthrough Net Price Material Conversion Growth Initiatives and Revenue Synergies Note: James Hardie estimates pro forma end -market mix is ~57% R&R / 43% new construction.
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20INVESTOR DAY 2026 Investment Thesis: Built to Outperform, Resilient by Design Delivering Growth Above Market – Not Cycle Dependent 1 Enduring Competitive Advantages 2 Compelling Growth Algorithm with Compounding Earnings 3 Enhanced Free Cash Flow – with Deleveraging 4 Delivering Consistent Execution to Build Long-term Value 5
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21INVESTOR DAY 2026 President and GM, North America Building Products Group North America Conversion Opportunity Jon Skelly
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22INVESTOR DAY 2026 Key Messages Capturing significant growth through large North American material conversion opportunity Executing our differentiated five-pillar strategy to drive share gains Deploying innovative products, scaled commercial capabilities and strong brands to win across channels and customers Winning locally through targeted regional strategies and cross-portfolio selling 1 2 3 4
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23INVESTOR DAY 2026 ~$23B Material Conversion Opportunity Overall 1 pt of Material Conversion = ~4% Growth to Siding and Decking Category1 Setting the Stage: Large and Growing TAM ($27B) in North America Note: Category refers to material type (e.g., fiber cement). TAM = Total Addressable Market. Breakdown percentages might not add up to 100% due to rounding. TAM reflected in $. % reflected as a percentage of total volume. Source: Principia. Note: The ~$4B TAM –SAM gap reflects demand the Company cannot real istically serve today — spanning geographies outside current footprint, applications where product isn't yet positioned to compete, and channels it doesn't currently acce ss. It represents runway for expansion over time, not near - term addressable demand. 1 Siding category growth refers to FC. Decking category growth refers to PVC / Composite. Vinyl 27% Engineered Wood 14% Brick 8%Wood 7% Stucco 7% Polymer Composite 3% Other 8% Fiber Cement 26% Wood 31% Engineered Wood 22% Vinyl 16% Other 4% Cellular PVC 16% Fiber Cement 11% Cellular PVC 4% Wood 73% Composite 22% Iron/Steel 7% Other 2% Composite 7% Hollow Vinyl 11% Aluminum 14% Wood 59% Wood 85% Plastic 12% Metal 3% ~74% Remaining conversion opportunity by volume ~74% Remaining conversion opportunity by volume ~73% Remaining conversion opportunity by volume ~68% Remaining conversion opportunity by volume ~85% Remaining conversion opportunity by volume $12B TAM $4B TAM $6B TAM $4B TAM $1B TAM Siding Other Exteriors Decking Railing Pergolas / Structures
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24INVESTOR DAY 2026 Strategic Priorities to Drive Long -term Profitable Growth Enhance Homeowner & Pro Journey Providing a best-in- class, integrated experience as the preferred industry supplier Extend Brand Leadership Establishing James Hardie as the undisputed leader in resilient exterior home solutions Advance Product Innovation Developing and delivering the most beautiful and best performing products Drive Channel Expansion Leveraging expanded portfolio and complementary geographic focus to accelerate growth Accelerate Material Conversion Converting inferior materials and accelerating premium products Homeowner Focused, Customer and Contractor Driven Driving Value Creation and Enterprise Efficiencies Hardie Operating System Technology
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25INVESTOR DAY 2026 Gain Share and Convert to 50%+ Over Next Decade3 Accelerating Material Conversion Opportunity Note: Data for new construction homes built in 2025. 1 Non-FC includes wood, stucco, brick, and other siding materials. 2 South = Southeast + South Central. 3Applicable to James Hardie Decking business. Figures are based on Census data and measured by number of homes — new construction only. …and Capturing Significant Growth Opportunities Fiber Cement1 Decking 80% of South2 remains wood …by Driving Downstream Conversion… • Differentiated sales organization • Cross-selling to increase penetration • Hyperlocal marketing to drive share gains • Broad, innovative portfolio of resilient products • Proven conversion success 92% of Northeast remains non-FC 88% of Midwest remains non-FC 69% of West remains wood Capitalizing on Structural Trends… Durability Aging Homes (R&R) Labor Shortage Affordability Fire Prevention
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26INVESTOR DAY 2026 Creates a Clear Force Multiplier Driving Channel Expansion HARDIE ADVANTAGES ✓ Best of the Best Distributors ✓ 90% of Plants within 1 Day of Customer1 ✓ Broad Exteriors Portfolio ✓ 500+ Person Salesforce +~3.8K Retail Locations 14.5K Dealer Locations 30K+ Pros 18 Best-in-Class Distributors with 110 Branches Millions of Homeowners 32 NA Facilities 1 Based on population located within 500 miles of a plant site. EXPANSION PLAYBOOK • Gaining share in big-box • Full-portfolio stocking at dealers • Increasing channel presence to capture cross sell and synergies • Strongest dealer and distribution network • Deliver best-in-class service
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27INVESTOR DAY 2026 Broad Exteriors Portfolio with Differentiated Aesthetics and Performance across Price Points Product Innovation Driving Differentiation Note: Representative product and colors shown; full portfolio not pictured or listed. Major product launches and annual sales exclude AZEK exteriors. $300M+ Annual Sales from Products Launched in Last Five Years 872 Active Global Patents and Trade Secrets 36 Major Product Launches in Last Five Years Fiber Cement Decking Advanced PVC Composite Harvest Collection® Vintage Collection® Landmark Collection® Enhanced Wood Aesthetics Exotic Wood Looks & Color Variation Prime+ Collection® Prime Collection & Premier Collection Terrain Collection® Terrain+ Collection® Reserve Collection Legacy Collection Classic & Painted Wood Looks More Natural Texture & Color Variation Artisanal & Reclaimed Wood Looks Good Better Best Good Better Best Premium Core Siding & Color Options Expanded Color & Profiles Broader Textures & Design Options Distinctive Looks & Finishes • Cemplank® Siding • ColorPlus ® Statement Essentials • Hardie® Soffit & Panel • Hardie® Primed Plank • ColorPlus ® Expanded Statement • Hardie® Shingle Panel • Hardie® Panel & Batten • Dream Collection ® products with ColorPlus ® Technology Finishes • Hardie® Architectural Panel • TimberHue Collection • Hardie® Artisan® Lap Siding • Hardie® Artisan® Milled Classic Wood Aesthetics Harvest+ Collection
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28INVESTOR DAY 2026 Our Leading Brands Are Accelerating Market Share and Brand Awareness Extending Brand Leadership Note: Sources: Internal Data; Kantar Research. Note: Unaided awareness measures brand recall; top of mind measures the percen tage naming James Hardie first; surveys are conducted semiannually. 1 Company data. Nov 2020 – Aug 2025. ESTABLISHED LEADER SIDING CATEGORY #1 Unaided Awareness 32%: Highest in Category #1 Top-of-mind 23%: 10 pts Above Peers 76% Total Familiarity Among U.S. Homeowners 13% 14% 23% 11% 13% 11% 6% 7% 7% 3% 4% 4% Summer 2023 Fall 2023 Summer 2024 Winter 2024 Summer 2025 Winter 2025 Top-of-mind Awareness — Hardie vs. Named Siding Competitors (%) James Hardie Competitor A Competitor B Competitor C LEADING PRO BRAND +71% +22% Homeowner Leads (3-year CAGR) +14% Sample Orders (3-year CAGR) +17% Website Traffic (3-year CAGR) YoY Brand Search Volume growth (FY26 vs. FY25) LEADING PRO BRAND TimberT ech Closed Awareness Gap with Closest Competitor from 22 Points to 3 Points1
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29INVESTOR DAY 2026 Industry-leading Platform Drives Sticky Customer Relationships Driving Growth through Homeowner and Pro Engagement Empower Homeowner Journey • Simplify inspiration to completion • Build renovation confidence • Engage across the whole exterior Elevate Pro Business • Strengthen contractor loyalty • Grow contractor businesses • Widen portfolio participation Unlocking Growth Across the Portfolio Expands exterior project participation Increases cross-portfolio attachment Accelerates material conversion Supports long-term R&R growth ~40K Homeowners Connected to Contractors (TTM)1 ~30K Contractors with Pro Rewards 1 TTM as of July 2026.
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30INVESTOR DAY 2026 Executing Regional-Specific Strategies to Accelerate Share Gains and Material Conversion Opportunity West Outdoor Living and Wood Substitution South Central Wood Substitution and Brick Southeast Outdoor Living, Stucco and Vinyl Northeast Vinyl, PT2 Wood Canada EW1, Vinyl Midwest EW1, Vinyl Midwest Northeast West South Central Southeast Canada Competitive Focus Regional Opportunities 1 EW = Engineered wood. 2 PT = Pressure treated. ~$1B Midwest & Northeast Fiber Cement R&R ~$850M South Central & Southeast Decking ~$1.3B West Fire Code ~$1.4B South Central & Southeast Flood & Hurricane ~$750M Regional Homebuilders
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31INVESTOR DAY 2026 Capturing significant growth through large North American material conversion opportunity Executing our differentiated five-pillar strategy to drive share gains Deploying innovative products, scaled commercial capabilities and strong brands to win across channels and customers 1 2 3 Key Takeaways Winning locally through targeted regional strategies and cross-portfolio selling 4
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32INVESTOR DAY 2026 Chief Sales Officer Driving Conversion and Revenue Synergies John Madson
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33INVESTOR DAY 2026 Key Messages Building an integrated sales organization focused on commercial excellence Deploying regional playbooks across salesforce to accelerate material conversion Activating specialized sales teams to win new business and drive shelf space gains Leveraging our portfolio to drive cross-selling and provide complete exterior solutions 1 2 3 4
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34INVESTOR DAY 2026 Specialized Teams Create Force Multiplier Sales Organization Purpose-Built for Growth 500+ Salesforce One Point of Contact per Customer Dedicated Account Management Teams One Go-to-Market Approach Organizational Structure of Our Regions Technical SalesS&T Specialist DR&A Specialist Drives Material Conversion Removes Installation Barriers Market Director Channel Managers Expands Dealer Relationships
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35INVESTOR DAY 2026 Winning Locally through Regional Opportunity Areas Note: TAM is presented in $ billions and represents the total addressable market for North America (i.e., S&T and DR&A market s combined); TAM figures may not sum due to rounding; category share percentages are based on Principia data and reflect percentage of total market volume. Regional opportunities are estimated independently of one another and are not additive; some overlap may exist where opportunities fall within the same geographic regions. West Northeast Midwest South Central Southeast Canada TAM $6B $4B $4B $2B $6B $4B Key Focus Areas • Outdoor Living • Wood Substitution • Vinyl • Pressure Treated Wood • Engineered Wood • Vinyl • Wood Substitution • Brick • Outdoor Living • Stucco • Vinyl • Engineered Wood • Vinyl 35 Midwest Northeast West South Central Southeast Canada Regional Opportunities ~$1B Midwest & Northeast Fiber Cement R&R ~$850M South Central & Southeast Decking ~$1.3B West Fire Code ~$1.4B South Central & Southeast Flood & Hurricane ~$750M Regional Homebuilders
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36INVESTOR DAY 2026 Source: Principia 2025 Siding (sq ft) & decking (linear ft) volumes; internal WUI fire -code analysis, 11 code -active Western sta tes. Note: percentages may not total 100% due to rounding. 1 All other includes chemically modified wood, hollow vinyl, other plastic and capped composite. 2 Includes Class A flame spread, non -combustible, and/or ignition -resistant products. 3 Insurance Institute for Business & Home Safety. 4 Wildland-Urban Interface. Siding Opportunity Decking Opportunity ~$620 MILLION ~$650 MILLION Why James Hardie Wins ✓Fire Codes: Increasingly favor James Hardie products 2 ✓Simplicity: Hardie fire-rated; most competitors need modifications ✓Tier 1 Targets: California: strongest codes, ~half of opportunity Growth Catalysts ✓Insurers: Incent non-combustibles and ignition resistance ✓Third-party Advocacy: IBHS3 and Smart Home America ✓Geographic Focus: West Coast today (1/3 of homes in a WUI 4 zone); East and North next 29% 47% 24% Engineered Wood Wood Vinyl 40% 34% 18% 7% Pressure Treated Cedar & Redwood Hardwood All Other 1 Conversion by Substrate Conversion by Substrate ~$1.3B Siding & Decking Opportunity Western Fire Codes
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37INVESTOR DAY 2026 ~$1.4B Siding & Decking Opportunity Flood, Hurricane and Wind Risk 1 All other includes thermally or chemically modified wood, hollow vinyl, other plastic and uncapped composite. Siding Opportunity Decking Opportunity ~$700 MILLION ~$690 MILLION 35% 65% Engineered Wood Vinyl 71% 13% 14% 2% Pressure Treated Cedar & Redwood Hardwood All Other Conversion by Substrate Conversion by Substrate 1 Why James Hardie Wins ✓Flood: Siding is FEMA Class 5 rated; Decking and PVC Trim are moisture resistant ✓Wind: Siding rated for Category 5 hurricane winds (157+ mph) ✓Hail: Siding won’t crack or shatter like vinyl; hail is insurers’ #1 concern Growth Catalysts ✓Insurers: Steering toward durable materials ✓Post-event Rebuilds: Storms reset demand toward resilient exteriors ✓Multi-Hazard Solution: For flood, wind and hail
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38INVESTOR DAY 2026 Unmatched Distribution Network Amplifies Our Reach 500+ Salesforce Two-step Distributors ~750 Salesforce One-step Distributor / Retailer Single Family Builder / R&R Contractor ~4,000 Salesforce Access to ~85,000 Contractors in Network Brand Awareness and Trust Drive Preference and Long-term Value Homeowner Distribution Network and Contractor Reach Brand, Marketing and Consumer Demand Example of Reach Professional Installation Drives Quality and Brand Preference Installer ~3x Top 25 ~80%#1Salesforce of Nearest Competitor National Builder Relationships Category Share with Top 300 BuildersDistribution Network Note: Category refers to material type (Hard Siding). 3,500+Lumberyards
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39INVESTOR DAY 2026 Two-Step Distribution Synergy: Aligning with Boise Cascade to Accelerate Share Gains OutcomesOur Solution • One exclusive national partner, plus six regional • Full portfolio with one partner, not split across competitors • Boise gains strong brands, richer mix One national partner incented to grow our brand ~1,250-person combined sales force Access to Decking dealers and retail Multi-year runway to win share Challenge • JHX: Fragmented distribution (~4 distributors/market) • JHX: Decking & FC distributors not shared • JHX: Untapped opportunity in retail • Boise: Needed partner with demand gen capabilities “Customers want trusted brands, reliable availability, and dependable service. This expanded partnership pairs James Hardie's industry-leading products with Boise Cascade's nationwide distribution network to get customers what they need, when and where they need it. With shared values and complementary strengths, I look forward to unlocking the powerful potential of this agreement together.” – Jeff Strom, CEO of Boise Cascade
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40INVESTOR DAY 2026 Customer Testimonial Video: Boise Cascade
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41INVESTOR DAY 2026 One-Step Distribution Synergy: Scaling National Partnership to ~$1B OutcomesOur Solution Integrated Hardie Siding + AZEK offering built for ABC Supply • Consolidate fragmented PVC around Hardie + AZEK • Leverage preferred channels and expand network • Streamlined product portfolio across network Challenge • ABC Supply growing in a mature market • Hardie + AZEK Trim in only ~1/3 of ABC's PVC-carrying branches Scales AZEK Trim through ABC channels Target ~$1B combined sales in five years Grows PVC penetration in vinyl-heavy branches “By combining James Hardie’s innovation with ABC Supply’s scale and reach, we have a unique opportunity to drive growth, expand service capabilities across the market, and enhance customer value.” – Mike Jost, President and COO of ABC Supply
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42INVESTOR DAY 2026 ColorPlus® Technology Finishes Popular SKUs strategically stocked to keep the right product available on the ground... Hardie ProLab ...where mobile training units teach contractors economics and install method of Hardie Trim-Over ... Hardie Trim-Over Method ...converting demand into $1B R&R win 42INVESTOR DAY 2026 ~$1B Midwest & Northeast Siding R&R Opportunity Three Levers to Capture Other Engineered Wood Vinyl ~50% Upgrade Cost vs. Vinyl (Down from ~100%) ~30% Faster Installation ~14 Million Square Feet Converted Volume Since Inception2 Displacement by Substrate Statement Collection® Essentials STARTER 1ST MOVE-UP ~55 SKUs 8 Colors Expanded Statement Collection® 1ST-2ND MOVE-UP SEMI-CUSTOM ~600 SKUs 19 Colors Dream Collection® + TimberHue Collection CUSTOM LUXURY Made To Order 700+ Colors ~83 Events1 ~1,250 Q1 Trained Contractor Crews ~51 Deployable ProLab Assets 1 As of inception (April 2025). 2 Tracking period began August 2025.
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43INVESTOR DAY 2026 New Construction Builder Synergy: Trim-Over Drives D.R. Horton Conversion in Omaha Our Solution Hardie Trim-Over closes the cost gap • Simpler install – lower time and cost • JHX trained D.R. Horton’s installers Install time down ~30% Challenge • Closing cost gap vs. vinyl • D.R. Horton built ~500 single - family homes annually in market, <10% Hardie • 7 new CY26 communities which are all vinyl Hardie Trim-Over proven conversion platform Expansion into Celebrity Homes (~2 MMSF/year opportunity) Won 15 Omaha communities (7 vinyl flips + 8 Celebrity Homes) Outcomes
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44INVESTOR DAY 2026 Contractor Synergy: Cross-Selling Decking Into Siding Relationship 1 RPS Remodeling. Hardie Siding plus TimberTech Decking and Railing: one resilient exterior solution • Cross-sell through one relationship Siding supplier – full exterior partner Challenge • RPS1 sold Hardie Siding but not Decking and Railing • Customers want full fire - resistant offering; RPS did not have this offering Hardie contractor – TimberTech customer Repeatable cross-sell model Our Solution RPS siding sales attach a TimberTech deck Outcomes
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46INVESTOR DAY 2026 Building an integrated sales organization focused on commercial excellence Activating specialized sales teams to win new business and drive shelf space gains Deploying regional playbooks across salesforce to accelerate material conversion 1 2 3 Key Takeaways Leveraging our portfolio to drive cross-selling and provide complete exterior solutions 4
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47INVESTOR DAY 2026 Chief Marketing Officer Accelerating Brand Leadership Sam Toole
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48INVESTOR DAY 2026 Key Messages Our brand is a significant competitive advantage Driving demand creation through unified brand architecture Accelerating material conversion through localized marketing and digital experiences Maintaining #1 status with pros by driving preference and loyalty 1 2 3 4
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49INVESTOR DAY 2026 Proven In-House Model with Top Talent from Both Organizations Building In-House Capabilities through New Marketing Model Creative: In-House Studio End-to-end program improves consistency and speed Digital Media Buying: In-House Centralized planning and buying enhances ROI and performance Digital Experience: Center of Excellence Unified ownership strengthens conversion Faster execution Greater accountability Scalable in-house capabilities Synergy savings BENEFITS
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50INVESTOR DAY 2026 Unified Brand for the Whole Home Exterior AZEK Trim StruXure Pergola Siding | Trim | Moulding Decking | Railing | Lighting | FramingSiding | Trim | Soffit | Backer Pergolas | Cabanas Hardie Siding TimberTech Decking and Railing Expanding Demand across Exterior and Creating a Meaningful Competitive Advantage
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51INVESTOR DAY 2026 HOMEOWNER NEEDS • Climate-resilient products • Long-term value and curb appeal • Outdoor Living investments CREATE OPPORTUNITY FOR JAMES HARDIE ✓ Convert aging wood and vinyl ✓ Participate in more exteriors decisions ✓ Expand demand across the whole exterior Homeowner Preferences Align with Portfolio, Expanding Conversion Homeowner Demand Drives Conversion…
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52INVESTOR DAY 2026 TAILORED TO LOCAL MARKETS • Northeast: vinyl conversion & premium • West: fire resistance • Market specific messaging DELIVERING IMPACT ✓ Stronger homeowner engagement ✓ Better contractor matching ✓ More efficient conversion Local Strategy Improves Pull-through and R&R Share … And Localized Marketing Strategy Drives that Conversion
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53INVESTOR DAY 2026 Higher Pro Preference, Loyalty and Share of Wallet Owning the Pro Drives Preference, Loyalty and Share Why Owning the Pro Matters • Pros influence specification • Pros drive business conversion • Pros deliver repeat business Why We Win Higher-quality leads Improved homeowner -pro match Find-a-contractor program Build Capability • Hardie ProLab • In-store and dealer training • Full-portfolio education and certification Drive Loyalty • The Board & James Hardie Alliance • Business tools on OnBoard app • Thought leadership emails and social channels
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54INVESTOR DAY 2026 Pro Journey Lead PurchaseSpecify Install Warranty Advocate Investments Improve Lead Quality, Increase Conversion and Strengthen R&R Growth Digital Connects Homeowners and Pros into One Growth Engine Homeowner Journey Need Material SelectionResearch Contractor Selection Project Complete Recommend Design / Visualization T ools Homeowner-Pro Match Inspiration and Education Guidance and Support DIGITAL EXPERIENCE Deliver a consistent digital experience Build on mutually reinforcing journeys Increase engagement and conversion through unified brand experiences
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56INVESTOR DAY 2026 Our brand is a significant competitive advantage Driving demand creation through unified brand architecture Accelerating material conversion through localized marketing and digital experiences 1 2 3 Key Takeaways Maintaining #1 status with pros by driving preference and loyalty 4
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57INVESTOR DAY 2026 Above Presenters Q&A Session
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58INVESTOR DAY 2026 ~15 Minutes Break
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59INVESTOR DAY 2026 Chief Operations Officer Operations Powering Growth and Margin Expansion Ryan Kilcullen
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60INVESTOR DAY 2026 Key Messages Local supply chain is a durable competitive advantage Differentiated IP and manufacturing expertise drive market leadership Hardie Operating System is a proven value-creation engine with significant runway Existing capacity supports growth; Advanced Manufacturing unlocks incremental capacity 1 2 3 4
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61INVESTOR DAY 2026 Best-in-Class Incident Prevention System Supports Seamless and Efficient Operations Safe Operating Environment is Core to Our Culture 1 EHS&S = Environment, Health, Safety, & Sustainability. 2 DART = Days away from work, restricted work activity or job transfer rate. 3 Industry Average Source: U.S. Bureau of Labor Statistics. 0.84 2.3 James Hardie Industry Average 2025 DART2 RESULT Consistent, above-market performance against industry safety targets 3 2.7x Lower DART Zero Harm Integration Focus Areas • Single, integrated EHS&S1 organization • World-class standards applied across network • Leadership commitment to a safety-first culture
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62INVESTOR DAY 2026 North America Manufacturing Footprint DR&A = Deck, Rail & Accessories. 1 FM Global Insurance Asset Value. Cost to replace existing NA manufacturing infrastructure with new plants. 26 Manufacturing Sites 4,500 Operations Employees $8B Cost to Replace Assets with New Plants 1 Key Highlights Regional HQ (3) R&D (2) Claims (1) 2 2 Recycling (5) Siding & Trim Manufacturing (12) DR&A Manufacturing ( 9) Location Type
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63INVESTOR DAY 2026 Operations Competitive Advantages Localized and Scaled Supply Chain Proprietary Manufacturing Technology Hardie Operating System (HOS)
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64INVESTOR DAY 2026 Responsive and Resilient Fiber Cement Network • ~90% of manufacturing locations within 1-day haul of customers1 • ~75% of raw materials sourced within 150 miles of a plant2 Superior Customer Service and a Significant Barrier to Entry Network Flexibility Enables Customer Choice • Most products made in most facilities • Ability to supply same market from multiple facilities when needed Customer Integration Enables Industry -leading Service • Hardie Link serves as a complete digital hub across customers • Integrated supply chain fulfillment Localized and Scaled Supply Chain Localized, Flexible Manufacturing Network Lowers Delivered Cost and Raises the Barrier to Entry 1 Based on population located within 500 miles of a plant site. 2 James Hardie FY26 Sustainability Report. 3 James Hardie FY23 Sustainability Report, adjusted for the announced closures of Fontana, CA and Summerville, SC on January 15, 2026. U.S. Fiber Cement Manufacturing Footprint 3 Cost to Replace Assets with New North America Fiber Cement Plants$6B+ James Hardie Facility 500-Mile Radius of Facility
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65INVESTOR DAY 2026 Proprietary Fiber Cement Manufacturing Technology Proprietary Manufacturing Technology Deep Fiber Cement Expertise 150+ scientists and engineers improving manufacturing and product development Scaled Advantage on Fiber Cement Manufacturing1 James Hardie developed IP results in sheet machines with greater throughput than local Fiber Cement competitors Unique Product Capability and Range James Hardie developed IP enables Engineered for Climate performance Engineered for Climate® <10% Volume Sold is Single Sourced G1 G2 G3G0 Annual Throughput Machine Generation Research & Development New Product Introduction Central Engineering Advanced Manufacturing 1 Note chart is illustrative only. Chart depicts the general trend of increasing annual throughput per machine across successiv e machine generations (G ₀–G₃) driven by James Hardie's proprietary technology. Axes are not to scale and values are directional; not intended to represent actual production figures . Complete IP Ownership of Proprietary, High Throughput and High Product-capability Technology
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66INVESTOR DAY 2026 Proprietary Decking Manufacturing Technology PVC = Polyvinyl Chloride. PE = Polyethylene. 1James Hardie Sustainability Report FY26. Proprietary Manufacturing Technology Largest integrated recycler of PVC in North America Vertically integrated recycling creates structural cost advantage and supply resiliency Provides protection against raw resin inflationary pressure Clear pathway to increase recycling content Modular Manufacturing Technology Producing Advanced Product Attributes Differentiated Recycling Capabilities Drive Cost Stability and Value Creation Progress ~545M Pounds Recycled Waste and Scrap Used in FY261 Ambition 1B Pounds Recycled Waste and Scrap Used Annually1 • Looks and feels like high-end hardwood • Class A flame spread PVC decking
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67INVESTOR DAY 2026 Target ~1.5% of Revenue in Annual HOS Savings Hardie Operating System Drives Continuous Improvement 1 OEE = Overall Equipment Effectiveness. Chart is a directional illustration intended to convey relative trend only. Figures ar e not drawn to scale and should not be interpreted as precise values. 2020 – 2026 is a cumulative figure. Hardie Operating System (HOS) Lean Manufacturing Procurement Excellence Reformulation Value Improvement Supply Chain Efficiencies Lean Manufacturing Proven Ability to Drive Manufacturing Efficiency; Large Remaining Improvement Opportunity HOS is a Proven Lever to Offset Inflation Product Reformulation Combining Material Science with Manufacturing Expertise – Significant Formulation Optimization 2019 (Pre-HMOS) 2026 Runway FC Sheet Machine OEE1 Increase Recycled Content in Decking FC Raw Materials Value Improvement 2020 – 2026Pre-2019 (Pre-HOS) HOS Enterprise-wide Productivity Driver
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68INVESTOR DAY 2026 HOS Serves as a Force Multiplier in Cost Savings Cost Synergy: Integrating HOS into AZEK 1 OEE = Overall Equipment Effectiveness. Implementation Areas Leverage HOS into AZEK to Drive >$50M of Cost Synergies Lean Manufacturing Implementation Deploying HOS into AZEK plants to improve OEE1, reliability and productivity Centralized Procurement Leveraging Hardie capabilities to generate productivity savings Reformulation Advancing composite decking reformulation and optimizing extrusion process TARGET
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69INVESTOR DAY 2026 Existing Capacity Supports Growth without Need for Large Capital Investment Existing Capacity Available to Support Growth Note: Utilizations reflect full year outlook and directional, not precise percentages. 1 Utilization is post -installment of two active lines in Aliquippa, PA. Existing Capacity Recent Capacity Additions Prattville, AL (FC) Boise, ID (Decking) ~70% Fiber Cement Capacity Utilization Decking Capacity Utilization PVC Trim Capacity Utilization ~60% 1 ~65%
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70INVESTOR DAY 2026 Hardie Advanced Manufacturing Yields ~$1B CapEx Deferral Potential Outcome Increased Fiber Cement network line speed by 5% over last 12 months Early stages of advanced technology implementations Challenge • Increase Fiber Cement sheet machine line speeds • Improve efficiency and defer CapEx Solution Deployed Advanced Manufacturing program • Created multi-year roadmap • Converting sprint performance into sustained operating rates ~$1B of Capacity CapEx Deferral Potential New pilots enable real-time performance and analytics Future Advancements
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71INVESTOR DAY 2026 Local supply chain is a durable competitive advantage Differentiated IP and manufacturing expertise drive market leadership Hardie Operating System is a proven value-creation engine with significant runway 1 2 3 Key Takeaways Existing capacity supports growth; Advanced Manufacturing unlocks incremental capacity 4
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72INVESTOR DAY 2026 Chief Financial Officer Financial Overview and Value Creation Ryan Lada
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73INVESTOR DAY 2026 Key Messages Ready to capitalize on housing upside potential Delivering commercial and cost synergies from AZEK acquisition Strong free cash flow to de-lever and provide capital allocation optionality Growth algorithm highlights sustained market outperformance Compounder model poised to generate strong long-term returns 1 2 3 4 5
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74INVESTOR DAY 2026 James Hardie Wins Both Ways: Positioned to Win through the Cycle Housing Macro Provides Upside Potential 1 Source: U.S. Census Bureau, New Residential Construction (annual totals). 2025 approximate; 2026E reflects mid -2026 SAAR pace ~ 1.35M (June 2026 SAAR 1.427M; May six -year low). 2 Source: NAHB (Eye on Housing) analysis of U.S. Census Bureau, 2024 American Community Survey (ACS). 'How Old is Today's Housi ng Stock?', published Mar 2026. 3 Source: Freddie Mac Primary Mortgage Market Survey (PMMS) 30 -year Fixed Rate Mortgage Average in United States. 4 Source: Harvard JCHS Leading Indicator of Remodeling Activity (LIRA). Endpoints tie to the revised Apr -2026 release ($498B/2024, $509B/2025, $518B/2026E). Earlier -year levels ('15 –'23) approximate the published annual trend on the current (post -2024 benchmark) basis. New Construction Decades of underbuilding… Housing Stock …has aged existing housing stock while elevated mortgage rates temper new supply… R&R …enabling R&R for future growth before new construction comes back $277 $280 $289 $323 $328 $362 $407 $515 $510 $500 $510 $520 20% 1% 3% 12% 1% 10% 13% 27% -1% -2% 2% 2% -5 % 0% 5% 1 0% 1 5% 2 0% 2 5% 3 0% $0 $ 10 0 $ 20 0 $ 30 0 $ 40 0 $ 50 0 '15 '16 '17 '18 '19 '20 '21 '22 '23 '24 '25 '26E R&R Spend ($B) YoY Growth % Cycle Trough 47% 24% 15% 9% 4% Pre- 1980 1980- 1999 2000- 2009 2010- 2019 2020- 2024 Housing Stock (2024) 2 4 4 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 1996 2001 2006 2011 2016 2021 2026 30-Yr Fixed Mortgage 3 0 0.5 1 1.5 2 2.5 1995 2000 2005 2010 2015 2020 2025 Starts1 (M Units) 60 Yr Avg. 1995 2001 2006 2011 2016 2021 2026E
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75INVESTOR DAY 2026 Activated • Boise Cascade adding Decking • Regional distribution adding Siding • Lansing adding Trim • CBUSA adding full portfolio • Contractor cross-sell $500M $125M+ Commercial Synergies – On Track 1 Represents anticipated commercial synergies related to the AZEK transaction. Pipeline • Expand coverage with one -step dealers, independent lumberyards and retail • Sell DR&A to new construction and multi -family • Introduce Decking to Australia 5-Year Commercial Synergy Target1 FY27E Exit Run-Rate Commercial Synergy Roadmap PVC Trim DR&A Siding
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76INVESTOR DAY 2026 Cost Synergies – Ahead of Schedule Actions Completed • Eliminated overlapping roles • Commercial integration • Marketing insourcing • Initial vendor-spend harmonization Cost Synergy Roadmap Pipeline • HOS expansion in Decking + PVC Trim plants • Procurement – scale-driven input cost reduction • Systems consolidation as integration deepens • Minor org optimizations General & Administrative Manufacturing & Procurement Commercial & R&D $125M 3-Year Cost Synergy Target1 1 Represents anticipated cost synergies related to the AZEK transaction. $125M FY27E Exit Run-Rate
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77INVESTOR DAY 2026 $589 $425 $600M+ 39% 30% 38% 40%+ 0. 0% 50 . 0% 10 0. 0 % 15 0. 0 % 20 0. 0 % 25 0. 0 % 30 0. 0 % FY25 FY26 FY27E Medium Term CapEx and Free Cash Flow Generation Note: FY25 and FY26 are Pro forma and include AZEK. Free Cash Flow is defined as net cash provided by operating activities le ss purchases of property, plant and equipment, net of proceeds from sales of property, plant and equipment. FCF conversion is calculated as Free Cash Flow divided by Adjusted EBIT DA. Free Cash Flow, FCF conversion and Adjusted EBITDA are non -GAAP financial measures. Refer to the appendix for reconciliations to the most comparable GAAP financial measures . CapEx (% of Sales) CapEx Lower After Substantial Capacity Investment FCF ($M) and FCF Conversion (%) Growth and Lower CapEx Drive Strong FCF and FCF Conversion 10.0% 7.8% 6% - 7% FY25 FY26 FY27E Medium Term 6% - 8% $207 Deal & Integration Costs
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78INVESTOR DAY 2026 Strategic Divestiture of European Operations FINANCIAL IMPACT (POST CLOSE) • Adj. EBITDA Margin Accretive: ~150 bps2 • Anticipated use of proceeds: ▪ ~$600M debt paydown ▪ $250M share repurchase authorization DEAL FACTS • Full exit of European operations • Sale Price: ~$980M1 • EBITDA Multiple: ~12x2 • Anticipated transaction close: H1 CY27 • Closing European Fiber Cement business • Europe segment moved to discontinued operations starting in Q2 FY27 Enables us to Focus on Our Highest Growth and Return Opportunities 1 As of August 20, 2026. 2 Based on Europe segment FY26 EBITDA.
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79INVESTOR DAY 2026 Capital Allocation Priorities Strong FCF Drives Deleveraging and Capital Returns 1 2 3 4 Invest in Organic Growth: Support growth levers including sales initiatives, innovation and channel expansion Deleverage: Targeting Net Leverage <2.0x by Q2 FY28 Potential Bolt-on Acquisitions: Leveraging disciplined playbook Shareholder Returns: Opportunistic share repurchases
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80INVESTOR DAY 2026 Reaffirming Guidance (ex. Europe) ($M) Q2 FY27 FY27 Consolidated (ex. Europe) Total Net Sales $1,343 - $1,433 $4,990 - $5,133 Total Adjusted EBITDA $399 - $435 $1,446 - $1,534 Free Cash Flow – $600+ Siding & Trim Net Sales $835 - $875 $3,226 - $3,314 Adjusted EBITDA $259 - $289 $1,045 - $1,106 Deck, Rail, & Accessories Net Sales $365 - $395 $1,210 - $1,240 Adjusted EBITDA $116 - $128 $339 - $357 Note: Total Net Sales and Total Adjusted EBITDA represent consolidated James Hardie figures; ANZ segment detail is not separa tely broken out here. Adjusted EBITDA and Free Cash Flow are non -GAAP measures. The Company is unable to forecast the comparable U.S. GAAP financial measure for future periods due to, amongst other factors, uncertainty regarding the impact of actuarial estimates on asbestos -related assets and liabilities in future periods. Such reconciling items that impa ct Adjusted EBITDA and Free Cash Flow have not occurred, are outside of our control or cannot be reasonably predicted. Accordingly, a reconciliation of each of Adjusted EBITDA and Fr ee Cash Flow to its most comparable GAAP measure is not available without unreasonable effort. However, it is important to note that material changes to these reconciling items coul d have a significant effect on our Adjusted EBITDA and Free Cash Flow planning assumptions and future GAAP results. Ex. Europe is assumed to exclude the European segment results only an d does not consider any elimination of corporate expenditures. Increasing FY27 Free Cash Flow
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81INVESTOR DAY 2026 James Hardie North America Growth Algorithm 81INVESTOR DAY 2026 Bolt-on M&A Market Improvement Targeting Annual Organic Growth of 4% to 7% Above Market Additional Upside Potential 35%+ Target Adj. EBITDA Flowthrough Net Price Material Conversion Growth Initiatives and Revenue Synergies Note: James Hardie estimates pro forma end -market mix is ~57% R&R / 43% new construction.
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82INVESTOR DAY 2026 Sensitivity Analysis (ex. Europe) Resilient financial performance in a range of scenarios FY27E (ex. Europe) Scenarios Market -1.5% +0.5% +2.5% Outperformance ~+5.5% ~+5.5% ~+5.5% Sales ~$5.1B ~$5.3B ~$5.4B ~$5.5B Adj. EBITDA % ~29% ~+50bps ~+60bps ~+75bps Adj. Diluted EPS 1 Did Not Guide ~$1.43 ~$1.47 ~$1.51 FCF2 $600M+ ~$730M ~$760M ~$780M ROIC ~9% ~10% ~10.3% ~10.5% Assumptions • Adj. EBITDA Flowthrough: ~35%+ • Adj. EBITDA FCF Conversion: 40%+ • Effective tax rate: ~22% • Share count: ~580M Not Included in Analysis • Outperformance above MSD • Bolt-on acquisitions 1 Assumes debt paydown of $600MM at blended interest rate of 5.5%, share repurchases of $250M @ $31/share. 2 Free Cash Flow defined as net cash provided by (used in) operating activities less purchases of property, plant, and equipmen t plus proceeds from sale of property, plant, and equipment. Note: Adjusted EBITDA Margin, Adjusted Diluted EPS, Free Cash Flow, and ROIC are non -GAAP measures. The Company is unable to for ecast the comparable U.S. GAAP financial measure for future periods due to, amongst other factors, uncertainty regarding the impact of actuarial estimates on asbestos -related assets and li abilities in future periods. Such reconciling items that impact Adjusted EBITDA Margin, Adjusted Diluted EPS, Free Cash Flow, and ROIC have not occurred, are outside of our control or cannot be reasonably predicted. Accordingly, a reconciliation of each of Adjusted EBITDA Margin, Adjusted Diluted EPS, Free Cash Flow, and ROIC to its most comparable GAAP measure is not available without unreasonable effo rt. However, it is important to note that material changes to these reconciling items could have a significant effect on our Adjusted EBITDA Margin, Adjusted Diluted EPS, Free Cash Flow, and RO IC planning assumptions and future GAAP results. Ex. Europe is assumed to exclude the European segment results only and does not consider any elimination of corporate expenditures. Assumes $50 mil lion of transaction fees and a EUR/USD exchange rate of 1.165; actual net proceeds may differ. James Hardie estimates pro forma end -market mix is ~57% R&R / 43% new construction. Scenarios are illustrat ive and not to be considered as guidance.
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83INVESTOR DAY 2026 James Hardie U.S. Index Inclusion 1 S&P Global Inc. data. 2 List reflects the Company’s best estimate of possible relevant indices based on currently published inclusion criteria. Such list is not intended to be exhaustive. Actual index inclusion decisions are made independently by the applicable index providers and are subject to numerous quantit ative and qualitative criteria, discretion and timing considerations, all of which are subject to change from time to time and without notice or warning. The Company has no contro l over whether, when or to what extent it may be included in any index or what the consequences of inclusion may be. Investors should not place undue reliance on these estimates when making investment decisions. Potential U.S. Index Inclusion2 MSCI Small Cap Index S&P Completion Index S&P 400 Midcap Index Other Indexes U.S. Index Ownership1 23% 2% S&P 500 JHX Milestones Became U.S. domestic filer in April 2026 Filed 10-K in May 2026
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84INVESTOR DAY 2026 Strong Margins Underscore Multiple Expansion Opportunity 11.0x 12.0x 13.0x 14.0x 15.0x 16.0x 21% 22% 23% 24% 25% 26% 27% 28% 29% 30% EV/Adj. EBITDA (NTM) Adj. EBITDA Margin (3-Year Average) Valuation vs. Profitability ex. Europe Best-in-Class & Industrials Peers1 Note: All peer company financial data was sourced from FactSet. Adjusted EBITDA is a non-GAAP measure that is not uniformly defined and may not be comparable across companies. The data may not reflect all company-specific adjustments and may be affected by differences in calculation methodology, accounting treatment, reporting periods and discontinued operations. Certain companies may not disclose Adjusted EBITDA or provide a reconciliation to reported results; where sufficient data was unavailable, Adjusted EBITDA margin is not presented. Peer list includes: SHW, SSD, CARR, TT, WSO, FAST, AWI, VMC, CSL, LPX, TREX
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85INVESTOR DAY 2026 Key Takeaways 1 2 3 4 5 Ready to capitalize on housing upside potential Delivering commercial and cost synergies from AZEK acquisition Strong free cash flow to de-lever and provide capital allocation optionality Growth algorithm highlights sustained market outperformance Compounder model poised to generate strong long-term returns
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86INVESTOR DAY 2026 Chief Executive Officer Closing Remarks Aaron Erter
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87INVESTOR DAY 2026 Why Invest in James Hardie James Hardie NA Growth AlgorithmInvestment Thesis Delivering Growth Above Market – Not Cycle Dependent Enduring Competitive Advantages Compelling Growth Algorithm with Compounding Earnings Enhanced Free Cash Flow – with Deleveraging Delivering Consistent Execution to Build Long-term Value 1 2 3 4 5 87INVESTOR DAY 2026 Bolt-on M&A Market Improvement Targeting Annual Organic Growth of 4% to 7% Above Market Additional Upside Potential 35%+ Target Adj. EBITDA Flowthrough Net Price Material Conversion Growth Initiatives and Revenue Synergies
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88INVESTOR DAY 2026 All Presenters Q&A Session
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89INVESTOR DAY 2026 Appendix Supplemental Information and Reconciliation Tables
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90INVESTOR DAY 2026 Limited Near-term Debt Maturities 1 All figures denoted in millions (USD). 2 Total long -term debt is net of unamortized debt issuance costs as of 3/31/2026. Maturity Rate Amount Outstanding1 Unsecured Debt Senior notes 2028 5.000% $400 Secured Debt Senior notes 2031 5.875% $700 Senior notes 2032 6.125% $1,000 Revolving facility 2030 Variable - T erm A-1 Facility 2028 Variable $750 T erm A-1 Facility 2030 Variable $1,717 Weighted Total Cost of Debt: 5.5% Total Long-term Debt $4,4912
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91INVESTOR DAY 2026 Pro Forma Adjusted EBITDA, Pro Forma Adjusted EBITDA margin and Pro Forma net sales Non-GAAP Financial Measures 1 Effective as of June 30, 2026, we revised the definition of Adjusted EBITDA and Adjusted EBITDA Margin to exclude share -based co mpensation expense. Prior periods have been recast to reflect this change. For the fiscal year ended March 31, 2026, share -based compensation expense $9.9 million is includ ed in acquisition related expenses. Fiscal Year Ended (Millions of U.S. dollars) March 31, 2026 March 31, 2025 Net income $104.0 $424.0 Interest, net 231.1 10.3 Other expense, net 9.8 0.2 Income tax expense 102.7 221.4 Depreciation and amortization 493.5 216.2 Acquisition related expenses 206.9 16.5 Asbestos related expenses and adjustments 53.7 140.5 Inventory fair value adjustment 47.9 - Restructuring, net 16.2 50.3 Share-based compensation expense 1 37.3 25.7 Adjusted EBITDA $1,303.1 $1,105.1 AZEK Adjusted EBITDA 126.8 389.8 Total Pro Forma Adjusted EBITDA $1,429.9 $1,494.9 Fiscal Year Ended March 31, 2026 March 31, 2025 Net income margin 2.2% 10.9% Interest, net 4.8% 0.3% Other expense, net 0.2% - Income tax expense 2.1% 5.7% Depreciation and amortization 10.2% 5.6% Acquisition related expenses 4.3% 0.4% Asbestos related expenses and adjustments 1.1% 3.6% Inventory fair value adjustment 1.0% - Restructuring, net 0.3% 1.3% Share-based compensation expense 1 0.7% 0.7% Adjusted EBITDA margin 26.9% 28.5% Total Pro Forma Adjusted EBITDA margin 27.2% 28.0% Fiscal Year Ended (Millions of U.S. dollars) March 31, 2026 March 31, 2025 Consolidated net sales $4,835.8 $3,877.5 AZEK net sales 416.6 1,452.3 Total Pro Forma net sales $5,252.4 $5,329.8
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92INVESTOR DAY 2026 Siding & Trim Segment Pro Forma Adjusted EBITDA, Pro Forma Adjusted EBITDA margin and Pro Forma net sales Non-GAAP Financial Measures (Millions of U.S. dollars) Fiscal Year Ended March 31, 2026 Siding & Trim Segment operating income $661.9 Acquisition related expenses 11.8 Inventory fair value adjustment 11.2 Amortization of intangible assets resulting from AZEK acquisition 42.7 Restructuring expenses 35.6 Depreciation and amortization 188.2 Siding & Trim Segment Adjusted EBITDA $951.4 AZEK Exteriors Adjusted EBITDA for Q1 FY26 29.8 Total Pro Forma Siding & Trim Segment Adjusted EBITDA $981.2 (Millions of U.S. dollars) Fiscal Year Ended March 31, 2026 Siding & Trim Segment net sales $2,963.1 AZEK Exteriors net sales for Q1 FY26 95.7 Total Pro Forma Siding & Trim Segment net sales $3,058.8 Fiscal Year Ended March 31, 2026 Siding & Trim Segment operating income margin 22.3% Acquisition related expenses 0.4% Inventory fair value adjustment 0.4% Amortization of intangible assets resulting from AZEK acquisition 1.4% Restructuring expenses 1.2% Depreciation and amortization 6.4% Siding & Trim Segment Adjusted EBITDA margin 32.1% Total Pro Forma Siding & Trim Segment Adjusted EBITDA margin 32.1%
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93INVESTOR DAY 2026 Deck, Rail & Accessories Segment Pro Forma Adjusted EBITDA, Pro Forma Adjusted EBITDA margin and Pro Forma net sales Non-GAAP Financial Measures (Millions of U.S. dollars) Fiscal Year Ended March 31, 2026 Deck, Rail & Accessories Segment operating loss $(17.7) Inventory fair value adjustment 36.7 Amortization of intangible assets resulting from AZEK acquisition 136.0 Restructuring expenses 3.4 Depreciation and amortization 66.4 Deck, Rail & Accessories Segment Adjusted EBITDA $224.8 AZEK Deck, Rail & Accessories Adjusted EBITDA for Q1 FY26 106.5 Total Pro Forma Deck, Rail & Accessories Segment Adjusted EBITDA $331.3 Fiscal Year Ended March 31, 2026 Deck, Rail & Accessories Segment operating loss margin (2.2%) Inventory fair value adjustment 4.6% Amortization of intangible assets resulting from AZEK acquisition 17.1% Restructuring expenses 0.4% Depreciation and amortization 8.4% Deck, Rail & Accessories Segment Adjusted EBITDA margin 28.3% Total Pro Forma Deck, Rail & Accessories Segment Adjusted EBITDA margin 29.7% (Millions of U.S. dollars) Fiscal Year Ended March 31, 2026 Deck, Rail & Accessories Segment net sales $795.2 AZEK Deck, Rail & Accessories net sales for Q1 FY26 320.9 Total Pro Forma Deck, Rail & Accessories Segment net sales $1,116.1
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94INVESTOR DAY 2026 Australia & New Zealand Segment Adjusted EBITDA and Adjusted EBITDA margin Non-GAAP Financial Measures (Millions of U.S. dollars) Fiscal Year Ended March 31, 2026 Australia & New Zealand Segment operating income $153.9 Restructuring expenses 1.4 Depreciation and amortization 22.4 Australia & New Zealand Segment Adjusted EBITDA $177.7 Fiscal Year Ended March 31, 2026 Australia & New Zealand Segment operating income margin 29.6% Restructuring expenses 0.2% Depreciation and amortization 4.3% Australia & New Zealand Segment Adjusted EBITDA margin 34.1%
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95INVESTOR DAY 2026 Pro Forma capital expenditures Non-GAAP Financial Measures Fiscal Year Ended (Millions of U.S. dollars) March 31, 2026 March 31, 2025 Purchases of property, plant and equipment $383.9 $422.2 AZEK purchases of property, plant and equipment 24.4 108.3 Total Pro Forma capital expenditures $408.3 $530.5 Total Pro Forma net sales $5,252.4 $5,329.8 Total Pro Forma capital expenditures as a % of Total Pro Forma net sales 7.8% 10.0%
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96INVESTOR DAY 2026 Pro Forma Free Cash Flow Non-GAAP Financial Measures Fiscal Year Ended (Millions of U.S. dollars) March 31, 2026 March 31, 2025 Net cash provided by operating activities $589.8 $802.8 Purchases of property, plant and equipment (383.9) (422.2) Proceeds from sale of property, plant and equipment 108.2 0.4 Free Cash Flow $314.1 $381.0 AZEK Free Cash Flow 111.2 208.4 Total Pro Forma Free Cash Flow $425.3 $589.4 Total Pro Forma Adjusted EBITDA $1,429.9 $1,494.9 Pro Forma Free Cash Flow Conversion 29.7% 39.4% Net cash used in investing activities $(4,208.5) $(446.7) AZEK net cash used in investing activities (24.9) (131.9) Total Pro Forma net cash used in investing activities $(4,233.4) $(578.6) Net cash provided by (used in) financing activities $3,350.9 $(165.9) AZEK net cash used in financing activities (1.9) (265.0) Total Pro Forma Net cash provided by (used in) financing activities $3,349.0 $(430.9)
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97INVESTOR DAY 2026 Speaker Biographies Appendix
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98INVESTOR DAY 2026 Aaron Erter was appointed as Chief Executive Officer (“CEO”) in September 2022. Mr. Erter brings over 25 years of experience in the consumer and industrial sectors, with extensive expertise in strategy development, marketing, sales, and mergers and acquisitions. Before joining James Hardie, he served as CEO of PLZ Corp and held prominent roles such as Global President of the Consumer and Industrial businesses at Sherwin-Williams and Senior Vice President and General Manager of North America Consumer Products at Valspar. Additionally, he spent 15 years in various leadership positions at Stanley Black & Decker, where he managed sales and marketing for the Black & Decker and DEWALT brands. Mr. Erter serves on the Board of Directors for Ball Corporation and Chicagoland Habitat for Humanity. He is a member of the Pro Football Hall of Fame National Advisory Board, a member of the Harvard Joint Center for Housing Studies and First Tee. Mr. Erter holds a bachelor’s degree in economics from The University of Pennsylvania Wharton School and a Master of Business Administration from the University of Notre Dame. Aaron Erter Chief Executive Officer Speaker Biography INVESTOR DAY 2026 98
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99INVESTOR DAY 2026 INVESTOR DAY 2026 Jonathan Skelly has 25 years of general management, sales, customer service, strategy, mergers and acquisitions and business development experience. Most recently, Mr. Skelly served as President – AZEK Residential. He previously served as SVP of Customer Experience and SVP of Strategy and Execution. Prior to joining The AZEK Company in January 2018, he served as Vice President of Corporate Development for W.W. Grainger, Inc., an industrial supply company from 2010 to December 2017. Earlier, he has held a variety of leadership positions at other leading organizations, including The Home Depot Inc. Mr. Skelly holds a bachelor’s degree in finance from University of Florida and an M.B.A. from Duke University’s Fuqua School of Business. Jon Skelly President and GM, North America Building Products Group Speaker Biography 99
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100INVESTOR DAY 2026 John Madson was appointed Chief Sales Officer in December 2025. Mr. Madson brings over two decades of experience in sales management, with a distinguished 20-year tenure at James Hardie. He oversees global sales strategy, partnership development, and performance management across James Hardie’s North American operations. Most recently, Mr. Madson served as Vice President of Sales – North America, where he led the sales organization through substantial growth and strategic transformation. From 2017 to 2022, Mr. Madson was Director of National Strategic Accounts, driving growth and alignment across National Builder, Dealer and distribution partners and leading the National Strategic Accounts team to deliver strong results. Earlier in his career at James Hardie, Mr. Madson held various management roles, including Regional Sales Manager of the Northeast Division. In this capacity, he directed a team of 40 representatives, achieving significant category and market share gains within the region. His leadership has been instrumental in developing scalable sales organizations and fostering collaborative partnerships with key stakeholders. Mr. Madson has a demonstrated track record in strategic account management, sales team leadership, market expansion and driving operational excellence in complex, competitive environments. His expertise covers sales planning and execution, customer relationship management, and cross-functional alignment to support organizational growth. Mr. Madson holds a Bachelor of Business Administration and Management from Virginia Commonwealth University. John Madson Chief Sales Officer Speaker Biography INVESTOR DAY 2026 100
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101INVESTOR DAY 2026 Samara (Sam) Toole joins James Hardie as Chief Marketing Officer and previously served as AZEK’s Senior Vice President and Chief Marketing Officer since 2021. Before joining AZEK, Ms. Toole had over 20 years of experience driving growth and building brands for purpose-driven companies in the home, lifestyle and consumer products industries. Ms. Toole served as Chief Marketing Officer of California Closet Company, Inc. from November 2014 to April 2021, where she drove significant growth by developing a sophisticated multi-touchpoint marketing strategy, up leveling ecommerce and marketing software tools and overseeing the production of award- winning content. Prior to that, Ms. Toole served as the Senior Vice President of Serena & Lily, Inc., a luxury lifestyle brand, from January 2006 to November 2014 and Ms. Toole held other senior-level roles in the lifestyle and consumer product categories prior thereto. Sam Toole Chief Marketing Officer Speaker Biography INVESTOR DAY 2026 101
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102INVESTOR DAY 2026 Ryan Kilcullen is Executive Vice President of James Hardie’s Global Operations, a position he’s held since January 2022. Mr. Kilcullen joined the company in 2007 as a PcI/PdI Engineer. Since then, Mr. Kilcullen has worked for the company in various manufacturing and supply chain roles including Process Engineer, Production Manager and Supply Chain Engineer. Mr. Kilcullen was appointed Executive Vice President – North America Operations in 2016, where he was responsible for the company's supply chain, manufacturing, engineering and environmental and health and safety operations. Mr. Kilcullen holds a Bachelor of Science in industrial engineering from Rensselaer Polytechnic Institute and a Master of Engineering in logistics from the Massachusetts Institute of Technology. Ryan Kilcullen Chief Operations Officer Speaker Biography INVESTOR DAY 2026 102
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103INVESTOR DAY 2026 INVESTOR DAY 2026 Ryan Lada was appointed Chief Financial Officer in November 2025. Mr. Lada brings nearly two decades of experience driving growth, operational discipline and value creation for global manufacturing, medical and industrial tech companies. He oversees global financial strategy, capital allocation and performance mgmt. across James Hardie’s operations. Prior to joining, Mr. Lada served as Chief Financial Officer at Watts Water Technologies and, immediately prior, as Chief Financial Officer at The AZEK Company. At AZEK, he led the finance function through significant operational transformation and strategic portfolio evolution, resulting in robust growth and profitability, culminating in the acquisition by James Hardie Industries plc. Earlier in his career, Mr. Lada held senior financial leadership roles at Tank Holding Corp., Cantel Medical (now part of STERIS plc), Medtronic, IDEX Corporation and GE Transportation. Mr. Lada has a demonstrated track record in financial execution, margin enhancement, global team leadership and developing scalable finance organizations. His expertise spans P&L management, mergers and acquisitions integration, financial planning and analysis, treasury and investor communications, all within complex global environments. Mr. Lada holds a Bachelor of Finance from Penn State University. Ryan Lada Chief Financial Officer Speaker Biography 103