Slide 1: Low Cost Producer
Exhibit 99.1 Low Cost Producer Profitable Growth Sound Strategic Investments Cyclic Tailwind Benefits Favorable Secular Trends Healthy Balance Sheet Unrivaled Track Record
Slide 2: Forward Looking Statement
Forward Looking Statement Forward-Looking Statements. This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Forward-looking st
Slide 3: Eagle Materials Business Definition
Eagle Materials Business Definition Minerals-Based Commodity Products Infrastructure and Related Construction Materials Energy Industry Materials Construction cement oil well cement Aggregates and concrete frac sand Residential and Commercial Construction Materials Gypsum Wallboard Gypsum Paperboard
Slide 4: Eagle Materials Business Definition
Eagle Materials Business Definition Minerals-Based Commodity Products Infrastructure and Related Construction Materials Energy Industry Materials Construction cement oil well cement Aggregates and concrete frac sand Residential and Commercial Construction Materials Gypsum Wallboard Gypsum Paperboard
Slide 5: Multiple Sources of Cost Advantage
Multiple Sources of Cost Advantage Lowest Cost Position is Important in a Commodity Industry Operational Execution Process Management Low-Cost Focused Innovation Smart Design and Scale Technology and Engineering Sustained Maintenance Sustained Innovation Focus on Cost Reduction Significant, Sustaine
Slide 6: Our Low Cost Producer Strategy
Our Low Cost Producer Strategy Is Closely Aligned with Our Sustainability Objectives Strategy Objective Sustainability Result Less Responsible use of Reduced cost waste resources Less energy Smaller Reduced cost used environmental footprint Less mineral Greater Reduced cost resource used conservatio
Slide 7: Some Say the “Best Predictor of Grades is Grades”
Some Say the “Best Predictor of Grades is Grades” Total Shareholder Return as of 3/31/2014 450% Eagle Materials Performance 3000% 75th Percentile Peer 2000% 50th Percentile Performance 25th Percentile 1000% 300% 0% 20-Yr 150% 0% 1-Yr 3-Yr 5-Yr 10-Yr Source: Longnecker & Associates. Peer Group: Marti
Slide 8: Eagle Materials Business Definition
Eagle Materials Business Definition Minerals-Based Commodity Products Infrastructure and Related Construction Materials Energy Industry Materials Construction Cement Oil Well Cement Aggregates and Concrete Frac Sand Residential and Commercial Construction Materials Gypsum Wallboard Gypsum Paperboard
Slide 9: Central US Cement System
Central US Cement System Latest Acquisitions Are Now Fully Integrated Kansas City and Tulsa cement plant acquisitions (Nov. 30, 2012) link east-to-west and central-to- Nevada Mountain Kansas City, MO Illinois Cement Cement Cement south Tulsa, OK Eagle Cement Plants Texas Lehigh Acquired Cement Plant
Slide 10: System Scale
System Scale Acquisitions Increased Cement Capacity by 60% Cement Short Tons Capacity (000) Texas Lehigh(50%) 700 Illinois Cement 1,100 Mountain Cement 700 Nevada Cement 550 Central Plains Kansas City 1,150 Central Plains Tulsa 700 Total 4,900
Slide 11: US Cement Consumption Outlook
US Cement Consumption Outlook Million Metric Tons New capacity and capacity expansion — is US Capacity constrained for the foreseeable 90 future Some existing capacity may be closed by 2015 due to NESHAP 60 compliance, but imports will be required again to meet demand regardless Non-Residential Resi
Slide 12: Texas Cement Consumption History and Outlook
Texas Cement Consumption History and Outlook Key States, Metric Tons, PCA 18,000,000 12,000,000 6,000,000 Texas is Forecast to Exceed 2007 Peak in 2015 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Slide 13: Cement Consumption History and Outlook
Cement Consumption History and Outlook Key States, Metric Tons, PCA Central Plains Forecast to Illinois Forecast to Nearly Regain 2005 Peak in 2017 Regain 2005 Peak in 2018 8,000,000 6,000,000 4,000,000 2,000,000 0 2002 2003 2004 2007 2008 2009 2010 2012 2013 2014 2017 2018 2000 2001 2002 2003 2004
Slide 14: Cement Consumption History and Outlook
Cement Consumption History and Outlook Key States, Metric Tons, PCA Nevada Recovery Expected to Mountain Forecast to be Sustained but Slower Surpass 2005 Peak in 2018 3,500,000 3,000,000 2,500,000 2,000,000 1,500,000 1,000,000 500,000 0 2007 2008 2009 2000 2002 2004 2006 2008 2010 2012 2014 2016 Wyo
Slide 15: Highway Spending Outlook and Composition
Highway Spending Outlook and Composition Millions of Real $, PCA $70,000 $60,000 $50,000 $40,000 $30,000 $20,000 $10,000 $0 2000 2002 2004 2006 2008 2010 2012 2014 2016 ARR Act State and Local Federal
Slide 16: EPA Regulatory Developments
EPA Regulatory Developments Final Rule Issued – Extension Granted On February 12, 2013 the EPA published the final rule amending National Emission Standards for Hazardous Air Pollutants (NESHAP) for the Portland Cement Manufacturing Industry New Source Performance Standards (NSPS) for Portland Cemen
Slide 17: EPA Regulatory Developments
EPA Regulatory Developments Standards Tough to Meet, Will Chill New Capacity Addition Existing Source New Source Pollutant Standard Standard Standards for Particulate Matter 0.07 lb/ton clinker 0.02 lb/ton clinker new sources are challenging Mercury 55 lb/MM tons 21 lb/MM tons clinker to meet clinke
Slide 18: Concrete/Cement Value Proposition
Concrete/Cement Value Proposition In Relation to Asphalt, the Leading Substitute Historically initial costs per construction mile have favored asphalt over concrete Asphalt is used over 85% of the time in US highway and road construction, and this has been the case over many decades Life cycle costs
Slide 19: Life Cycle Analysis Favors Concrete
Life Cycle Analysis Favors Concrete Pavement Life Expectancy (Before Reconstruction is Required) Concrete 25 Average: 29.3 Years 20 Asphalt Average: 13.6 Years Asphalt 10 Concrete Number of State DOTs Reporting 5 0 1-5 Years 6-10 Years 11-15 16-20 21-30 31-50 Years Years Years Years Source: PCA High
Slide 20: Asphalt Costs Have Diverged Higher
Asphalt Costs Have Diverged Higher Costs Linked to Oil/Bitumen Asphalt PPI Concrete/Cement PPI 12/1/2003 12/1/2005 12/1/2007 12/1/2009 12/1/2011 12/1/2013 US Department of Labor (BLS) 12/2003=100 Ppi, Mfg, Nsa, Asphalt Paving and Roofing Materials; Cement and Concrete Product
Slide 21: Concrete Share Has, In Fact, Been Growing
Concrete Share Has, In Fact, Been Growing Growth Since 2008 Has Been Masked by the Recession Concrete Share of Highway Paving Volume 18% 17.5% 16.2% 15.5% Long-Term Average 14.4% 13.3% 13% 12.1% 8% 2007 2008 2009 2010 2011 Source: PCA June 2012, Oman Data Systems
Slide 22: Outlook and Strategic Implications
Outlook and Strategic Implications A Game Changer for Cement and Asphalt The price of asphalt is expected to continue to diverge from the price of concrete as oil price inflation remains higher than the cost inflation of the fuels used in producing cement (e.g., petcoke, shale gas) High oil prices h
Slide 23: PCA Projected Initial Bid Paving Costs
PCA Projected Initial Bid Paving Costs Dollars Per Two Lane Road Mile—Urban $1,400,000 Asphalt $1,200,000 $1,000,000 $800,000 $600,000 Concrete $400,000 $200,000 $- 2003 2007 2011 2015 2019
Slide 24: Eagle Materials Business Definition
Eagle Materials Business Definition Minerals-Based Commodity Products Infrastructure and Related Construction Materials Energy Industry Materials Construction Cement Oil Well Cement Aggregates and Concrete Frac Sand Residential and Commercial Construction Materials Gypsum Wallboard Gypsum Paperboard
Slide 25: Close Relationship of End-Uses
Close Relationship of End-Uses Oil Well Cement and Now Frac Sand Important elements for unlocking energy in the shale plays Specialty oil well cement for casing wells Special purpose frac sand to keep the fractures “propped open”
Slide 26: Premium Well-Casing Cement Solutions
Premium Well-Casing Cement Solutions Desirable at 250 Degrees, Required at 350 Degrees and Up Temperatures generally increase with drilling depths, but at different rates for different regions Desirable Required Conventional Cement Specialty Performance Grades Perform to Solutions Only, Degradation
Slide 27: Shifting the Cement Product Mix to Oil Well Cement
Shifting the Cement Product Mix to Oil Well Cement A Company Priority Eagle has been the pre-eminent US producer of oil well cement for decades Strong value proposition for Eagle and a key profit growth opportunity Eagle has the capability, know-how, permits and customer relationships required to ef
Slide 28: Oil Well Cement Strategic Directions
Oil Well Cement Strategic Directions A Mutually Reinforcing Growth Opportunity with Frac Sand Current Target Key Target Plant Eagle Production Production Cement Shale Capability Plant Proportion Proportion Grades Plays Status Texas Mature ~ 50% > 50% Class H Eagle Ford Lehigh capability Mature Mount
Slide 29: Eagle Ford Cement Consumption Outlook
Eagle Ford Cement Consumption Outlook Continued Growth is Expected Increasing drilling activity and newer drilling technologies (e.g., cemented liners) should continue to drive growth in cement consumption South Texas represents ~15-20% of US oil well cement spend Estimated Annual Oil Well Cement De
Slide 30: Eagle Materials Business Definition
Eagle Materials Business Definition Minerals-Based Commodity Products Infrastructure and Related Construction Materials Energy Industry Materials Construction Cement Oil Well Cement Aggregates and Concrete Frac Sand Residential and Commercial Construction Materials Gypsum Wallboard Gypsum Paperboard
Slide 31: Frac Sand is a Natural, Close Adjacency for Eagle
Frac Sand is a Natural, Close Adjacency for Eagle Key Growth Opportunity and a Top Eagle Priority Frac sand entry leverages Eagle’s existing Customer base (oil well cement) Owned distribution infrastructure that we have repurposed (Corpus Christi port terminal, proximate to Eagle Ford) Processing ex
Slide 32: Geology is Destiny – Quality Scarcity
Geology is Destiny – Quality Scarcity Dark Red Represents the Outcroppings of Quartz Sand ~ 500 Million Years Old Small Universe of Areas in North America (and in the World) Studies have shown geologic conditions creating these deposits are rare across the globe. England deposits are played out, lim
Slide 33: Sandstone Formation Section View
Sandstone Formation Section View Sandstone Closest to the Surface is Even Less Common Eagle Northern White Frac Sand Mine
Slide 34: Eagle’s Illinois Mine
Eagle’s Illinois Mine Northern White Frac Sand Mine Entrance
Slide 35: Frac Sand at Corpus Christi
Frac Sand at Corpus Christi Destined for the Eagle Ford
Slide 36: Corpus Christi Site Repurposed, Now Operational
Corpus Christi Site Repurposed, Now Operational Third-Party Sand Used to Initialize Processing/Logistics Systems
Slide 37: Frac Sand Demand Drivers
Frac Sand Demand Drivers Positive Trends Across Multiple Drivers Horizontal Rig count x Wells Per Rig x Lateral Lengths x Stages Per Lateral x Proppant Per Stage = Propant Demand
Slide 38: Eagle Ford and Mid-Continent Lead Growth
Eagle Ford and Mid-Continent Lead Growth Proppant Use Year-on-Year Growth in Proppant Consumption (2012 vs. 2013) Mid-Continent Eagle Ford Source: PacWest Sample Analysis
Slide 39: Frac Sand Supply and Demand
Frac Sand Supply and Demand Growth in Both Acute Shortage Price Pressure for Most Desirable Grades Generally in Balance for Most Desirable Grades Slower Rate of Capacity Growth —Back to 2012 Pricing Conditions? Consumption Brown and Fit-for-Purpose Sand 100 M 40-70 30-50 20-40 and Coarser 2011 Capac
Slide 40: Eagle Materials Business Definition
Eagle Materials Business Definition Minerals-Based Commodity Products Infrastructure and Related Construction Materials Construction Cement Aggregates and Concrete Energy Industry Materials Oil Well Cement Frac Sand Residential and Commercial Construction Materials Gypsum Wallboard Gypsum Paperboard
Slide 41: Eagle’s US Market and Production Locations
Eagle’s US Market and Production Locations Gypsum, CO 700 MMSF Albuquerque, NM 425 MMSF Bernalillo, NM 550 MMSF Currently idled Duke, OK 1,300 MMSF Lawton, OK 350,000 tons paperboard Georgetown, SC 900 MMSF Wallboard Paperboard Total Wallboard Billion SF Note: Design capacities here do not necessari
Slide 42: US Demand for Gypsum Wallboard
US Demand for Gypsum Wallboard Closely Linked with Housing New Home Sales (000) Wallboard Shipments (BSF) 1,400 1,200 1,000 800 600 400 200 0 1980 1983 1986 1989 1992 1995 1998 2001 2004 2007 2010 2013 45 40 35 30 25 20 15 10 5 0
Slide 43: Industry Wallboard Shipment Volumes
Industry Wallboard Shipment Volumes Gypsum Association, Square Feet, Calendar Years 6,000,000 5,000,000 4,000,000 Back to 60% of prior peak volume (2005) by 2014? Annual Volume 2014 ~ 22 BSF? 2013 20.5 BSF 2012 18.9 BSF 2011 17.2 BSF 1st Quarter 2nd Quarter 3rd Quarter 4th Quarter
Slide 44: Single-Family Housing Starts Outlook
Single-Family Housing Starts Outlook Moody’s Analytics, SAAR in Millions, May 2014 2.0 1.5 1.0 0.5 0.0 Census Bureau’s population projections imply 1.28 million annual average growth in net new households between 2013 and 2020 (Harvard’s Joint Center for Housing Studies) Severe Decline Extended Trou
Slide 45: Latest Regional Recovery Outlooks — Wallboard
Latest Regional Recovery Outlooks — Wallboard Indexed Single Family Housing Starts, 2013Q4=100% 300% 250% 200% 150% 100% 2013Q4 2014Q1 2014Q2 2014Q3 2014Q4 2015Q1 2015Q2 2015Q3 2015Q4 Albuquerque, NM (Albuquerque, NM, Santa Fe, NM, Phoenix, AZ MSA’s) Eagle, CO (Denver, Co, Boulder, Co, Cheyenne, WY,
Slide 46: Repair and Remodeling Outlook
Repair and Remodeling Outlook Harvard University, 2014 Four-Quarter Outlook
Slide 47: Financial Discipline is a Key Enabler of Success
Financial Discipline is a Key Enabler of Success An Eagle Hallmark Capital Structure Funding Strategy Use of Cash
Slide 48: Financial Summary
Financial Summary Profitable Performance Throughout the Cycle $1,200 $1,000 $800 $600 $400 $200 $0 $501 $579 $699 $925 $994 $845 $695 $533 $537 $581 $739 $1,009 Adjusted Revenues (1) 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 $400 $300 $200 $100 $0 Adjusted EBITDA (2) $131 $141 $201
Slide 49: Eagle Evolution Since Peak of Last Cycle
Eagle Evolution Since Peak of Last Cycle Long-Standing Goal of Doubling Peak-to-Peak Earnings Power 1. One-third more productive capacity in place • Cement: Illinois expansion (additional 470,000 tons) • Wallboard: Ultra-efficient plant built in Georgetown, SC • Paper: 350,000 ton capacity today (27
Slide 50: Capital Structure
Capital Structure $ Million $1,000 $800 $600 $400 $200 $- Equity Net Debt $462 $285 $473 $260 $696 $831 $485 $375 3/31/11 3/31/12 3/31/13 3/31/14 Net Debt-to-Cap 38% 35% 41% 31% Net Debt-to-Equity 62% 55% 70% 45%
Slide 51: Debt Maturity Profile
Debt Maturity Profile $100.0 $80.0 $60.0 $40.0 $20.0 $0.0 $ In Millions $9.5 $57.0 $8.0 $81.2 $36.5 2015 2016 2017 2018 2019 2020 Fiscal Years 2005 Senior Notes 2007 Senior Notes
Slide 52: Disciplined Use of Cash
Disciplined Use of Cash $ Millions $600 $500 $400 $300 $200 $100 $0 Share Repurchases Dividends Growth and Improvement Maintenance FY02 FY03 FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY 14 Note: Issued 3.5 million shares in FY 13 pursuant to the Lafarge Acquisition Assets.
Slide 53: Investment Summary
Investment Summary Eagle Materials • Low cost producer • Leading positions in attractive markets • Now in early innings of the up-cycle • Favorable secular demand trends, especially for cement and frac-sand • Recently acquired assets have increased Eagle’s cement capacity by 60% • Track record of so
Slide 54: Non-GAAP Reconciliation
Non-GAAP Reconciliation E-lice: ls
Slide 55: Non-GAAP Reconciliation
Non-GAAP Reconciliation Adjusted EBITDA Adjusted EBITDA represents earnings before (i) interest, taxes, depreciation and amortization, and (ii) certain other non-cash or non-routine items. Adjusted EBITDA is a non-GAAP measure that provides supplemental information regarding the operating performanc
Slide 56: Non-GAAP Reconciliation
Non-GAAP Reconciliation Adjusted Revenue $ million Eagle Joint Venture (50%) Total 3/31/03 3/31/04 3/31/05 3/31/06 3/31/07 3/31/08 3/31/09 3/31/10 3/31/11 3/31/12 3/31/13 3/31/14 $ 429 $ 503 $ 617 $ 860 $ 918 $ 748 $ 599 $ 468 $ 462 $ 495 $ 643 $ 898 72 76 82 65 76 97 96 65 75 86 96 111 $ 501 $ 579
Slide 57: Major Facilities
M A J O R FA C I L I T I E S CEMENT PLANTS CENTRAL PLAINS CEMENT COMPANY LLC Sugar Creek, Missouri Tulsa, Oklahoma ILLINOIS CEMENT COMPANY LLC LaSalle, Illinois MOUNTAIN CEMENT COMPANY Laramie, Wyoming NEVADA CEMENT COMPANY Fernley, Nevada TEXAS LEHIGH CEMENT COMPANY LP Buda, Texas (50% joint ventur
Slide 58: Contact Information
Contact Information Steve Rowley President and CEO (214) 432-2020 srowley@eaglematerials.com Craig Kesler Executive Vice President and CFO (214) 432-2013 ckesler@eaglematerials.com Bob Stewart Executive Vice President, Strategy, Corporate Development and Communications (214) 432-2040 bstewart@eaglem