Eagle Materials Inc · NYSE:EXP

Eagle Materials — Q1 2027 Earnings Presentation

15 slides from Eagle Materials's earnings presentation, Jul 29, 2026

1. Slide 1: First Quarter Fiscal 2027 Earnings Conference Call

   July 29, 2026 First Quarter Fiscal 2027 Earnings Conference Call

2. Slide 2: Forward-Looking Statements

   Forward-Looking Statements Forward-Looking Statements. This presentation contains forward-looking statements modernization projects; possible losses or other adverse outcomes from pending or future within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the litigation or arbi

3. Slide 3: Fiscal Year 2027 First Quarter Highlights

   Fiscal Year 2027 First Quarter Highlights Strong financial and strategic execution in midst of ongoing macroeconomic uncertainty  Delivered solid financial results — Revenue up 3%, to record $651 million — Gross profit margin of 24.8% — EPS of $3.29  Advanced strategic goals: Employee safety, asse

4. Slide 4: End Markets Remain Resilient

   End Markets Remain Resilient Eagle remains strongly positioned, even in dynamic market conditions  State and Federal infrastructure budgets remain healthy, with robust pipeline of multi- year infrastructure projects Cement  Strong growth in large private non-residential construction projects, e.g.

5. Slide 5: Record Revenue Up 3%

   Record Revenue Up 3% Revenue In millions $651 $635 INCREASE DRIVEN BY:  Higher Cement and Recycled Paperboard sales volumes  Higher Aggregates sales volume and prices 2026 2027 FISCAL Q1 5

6. Slide 6: EPS Down 13%

   EPS Down 13% Diluted EPS $5 $4 $3.76 Q1 RESULTS REFLECT: $4 $3.29  Lower Cement and Wallboard $3 earnings resulting from higher $3 freight costs and equipment downtime at Mountain Cement $2  Partially offset by reduced share $2 count due to share buybacks $1 $1 $0 2026 2027 FISCAL Q1 6

7. Slide 7: Heavy Materials First Quarter Results Reflect Increased Cement Sales Volume and Higher Operating Costs

   Heavy Materials First Quarter Results Reflect Increased Cement Sales Volume and Higher Operating Costs Revenue* Operating Earnings In millions In millions FIRST QUARTER HIGHLIGHTS $454 $421  Cement sales volume +8%  Net Cement sales prices -2%  Aggregates sales volume +1%  Higher freight & raw m

8. Slide 8: Light Materials Results Driven by Lower Wallboard Sales Volume and Higher Freight Costs

   Light Materials Results Driven by Lower Wallboard Sales Volume and Higher Freight Costs Revenue Operating Earnings In millions In millions $251 $238 FIRST QUARTER HIGHLIGHTS  Wallboard sales volume -2%  Wallboard net sales prices -10% $102  Higher freight costs $86 FY2026 FY2027 FY2026 FY2027 FIR

9. Slide 9: Continued Strong Cash Flow Generation

   Continued Strong Cash Flow Generation $154 million of cash flow from operations Quarter ended June 30 In millions 2025 2026 Operating Cash Flow1 $137 $154 +13% Capex, net (76) (121) Free Cash Flow $61 $33 Dividends Paid (8) (8) Share Repurchases (79) (84) Debt Borrowings/(Repayments) 71 (4) Other (6

10. Slide 10: Capital Structure Provides Significant Financial Flexibility Supporting Growth Strategy

    Capital Structure Provides Significant Financial Flexibility Supporting Growth Strategy Net Debt-to-Cap Net Debt to Adjusted EBITDA 1 51% 50% 2.1x 1.9x 3.31.26 6.30.26 3.31.26 6.30.26 1 “Net Debt to Adjusted EBITDA” is defined as Net Debt divided by Adjusted EBITDA. Net Debt to Adjusted EBITDA and A

11. Slide 11: Question & Answer

    E Eagle Materials Question & Answer

12. Slide 12: Thank you for participating in today's conference call web cast

    Thank you for participating in today’s conference call web cast. An archive of this web cast will be available at eaglematerials.com later today.

13. Slide 13: Appendix

    E Eagle Materials Appendix

14. Slide 14: Reconciliation of EBITDA and Adjusted EBITDA

    Reconciliation of EBITDA and Adjusted EBITDA We present Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) and Adjusted EBITDA to provide additional measures of Fiscal Year ended TTM operating performance and allow for more consistent comparison of operating performance March 31

15. Slide 15: Reconciliation of Net Debt to Adjusted EBITDA

    Reconciliation of Net Debt to Adjusted EBITDA GAAP does not define “Net Debt” and it should As of As of not be considered as an alternative to debt as March 31, 2026 June 30, 2026 defined by GAAP. We define Net Debt as total debt minus cash and cash equivalents to indicate the amount of total debt t

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