James Hardie Q3 Report 2023

Third Quarter Fiscal Year 2023 Highlights, Compared to Third Quarter Fiscal Year 2022, as applicable:

• Global Net Sales declined 4% as Global Volumes declined 11%, partially offset by Price/Mix growth in all three regions as we delivered value added solutions to our customers
• Global Adjusted EBIT decreased 19% to US$165.4 million, with an Adjusted EBIT margin of 19.2%
• North America Fiber Cement Segment Net Sales remained flat at US$645.4 million and EBIT declined 5% to US$174.1 million, with an EBIT margin of 27.0%
• Asia Pacific Fiber Cement Segment Net Sales decreased 13% to A$171.2 million and EBIT decreased 21% to A$42.3 million, with an EBIT margin of 24.7%
• Europe Building Products Segment Net Sales increased 4% to €101.2 million and EBIT decreased 86% to €1.5 million, with an EBIT margin of 1.5%

Speaking to the results, James Hardie CEO Aaron Erter said, “Our team executed in the face of significant challenges to deliver strong financial results in fiscal year 2023. The team’s performance is reflected in strong Price/Mix growth in all three regions, including North America Price/Mix growth of +10%, Asia Pacific Price/Mix growth of +6% and Europe Price/Mix growth of +14%. The team’s success in driving high value product growth is underpinned by our superior value proposition. We are homeowner focused, customer and contractor driven, providing the entire value chain with world class products and services.”