EX-99.2 3 d917568dex992.htm EX-99.2

Exhibit 99.2 Strategically Transformed, Delivering Superior Shareholder Value A U G U S T 1 3 , 2 0 2 0Exhibit 99.2 Strategically Transformed, Delivering Superior Shareholder Value A U G U S T 1 3 , 2 0 2 0

Forward-Looking Statements This presentation contains forward-looking statements regarding CMC’s expectations relating to the construction, commissioning, and operation of its new Mesa, Arizona micro mill, and associated general economic conditions and key macroeconomic drivers that impact our business, the effects of ongoing trade actions, potential synergies provided by our recent acquisitions, demand for our products, steel margins, the effect of the coronavirus and related governmental and economic responses thereto, the ability to operate our mills at full capacity, future supplies of raw materials and energy for our operations, U.S. non-residential construction activity, international trade, capital expenditures, our liquidity and our ability to satisfy future liquidity requirements, prices, volumes and CMC’s operating plans and future financial results. These forward-looking statements generally can be identified by phrases such as we, CMC or its management “expects,” “anticipates,” “believes,” “estimates,” “intends,” “plans to,” “ought,” “could,” “will,” “should,” “likely,” “appears,” “projects,” “forecasts,” “outlook” or other similar words or phrases. There are inherent risks and uncertainties in any forward-looking statements. We caution readers not to place undue reliance on any forward-looking statements. Our forward-looking statements are based on management's expectations and beliefs as of the time this document is filed with the Securities and Exchange Commission or, with respect to any document incorporated by reference, as of the time such document was prepared. Although we believe that our expectations are reasonable, we can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Except as required by law, we undertake no obligation to update, amend or clarify any forward-looking statements to reflect changed assumptions, the occurrence of anticipated or unanticipated events, new information or circumstances or any other changes. CMC Investor Day | August 2020 2Forward-Looking Statements This presentation contains forward-looking statements regarding CMC’s expectations relating to the construction, commissioning, and operation of its new Mesa, Arizona micro mill, and associated general economic conditions and key macroeconomic drivers that impact our business, the effects of ongoing trade actions, potential synergies provided by our recent acquisitions, demand for our products, steel margins, the effect of the coronavirus and related governmental and economic responses thereto, the ability to operate our mills at full capacity, future supplies of raw materials and energy for our operations, U.S. non-residential construction activity, international trade, capital expenditures, our liquidity and our ability to satisfy future liquidity requirements, prices, volumes and CMC’s operating plans and future financial results. These forward-looking statements generally can be identified by phrases such as we, CMC or its management “expects,” “anticipates,” “believes,” “estimates,” “intends,” “plans to,” “ought,” “could,” “will,” “should,” “likely,” “appears,” “projects,” “forecasts,” “outlook” or other similar words or phrases. There are inherent risks and uncertainties in any forward-looking statements. We caution readers not to place undue reliance on any forward-looking statements. Our forward-looking statements are based on management's expectations and beliefs as of the time this document is filed with the Securities and Exchange Commission or, with respect to any document incorporated by reference, as of the time such document was prepared. Although we believe that our expectations are reasonable, we can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Except as required by law, we undertake no obligation to update, amend or clarify any forward-looking statements to reflect changed assumptions, the occurrence of anticipated or unanticipated events, new information or circumstances or any other changes. CMC Investor Day | August 2020 2

Agenda T I M E T I T L E P R E S E N T E D B Y : 8:30 – 8:35 AM Welcome and Introduction Jason Brocious 8:35 – 8:40 AM CMC’s Value Proposition Video 8:40 – 9:10 AM Strategic Overview Barbara Smith 9:10 – 9:30 AM Macro and Demand Drivers Billy Milligan 9:30 – 10:05 AM Overview of Operations Ty Garrison 10:05 – 10:25 AM Overview of SIOP Brad Cottrell 10:25 – 10:35 AM BREAK 10:35 –11:05 AM Triple M and CMC’s Growth Strategy Tracy Porter 11:05 – 11:20 AM Sustainability Billy Milligan 11:20 – 11:50 AM Financial Discussion Paul Lawrence 11:50 – 12:20 PM Q&A Session 12:20 – 12:25 PM Closing Remarks Barbara Smith CMC Investor Day | August 2020 3Agenda T I M E T I T L E P R E S E N T E D B Y : 8:30 – 8:35 AM Welcome and Introduction Jason Brocious 8:35 – 8:40 AM CMC’s Value Proposition Video 8:40 – 9:10 AM Strategic Overview Barbara Smith 9:10 – 9:30 AM Macro and Demand Drivers Billy Milligan 9:30 – 10:05 AM Overview of Operations Ty Garrison 10:05 – 10:25 AM Overview of SIOP Brad Cottrell 10:25 – 10:35 AM BREAK 10:35 –11:05 AM Triple M and CMC’s Growth Strategy Tracy Porter 11:05 – 11:20 AM Sustainability Billy Milligan 11:20 – 11:50 AM Financial Discussion Paul Lawrence 11:50 – 12:20 PM Q&A Session 12:20 – 12:25 PM Closing Remarks Barbara Smith CMC Investor Day | August 2020 3

Today’s Speakers Over 100 Years of Combined Steel Industry Experience Barbara R. Smith Paul Lawrence Chairman of the Board, President Vice President and Chief Financial Officer and Chief Executive Officer Tracy L. Porter Ty Garrison Executive Vice President and Vice President, East Region Chief Operating Officer Brad Cottrell Billy Milligan Vice President and Chief Supply Chain Officer Vice President, Marketing and Enterprise Support CMC Investor Day | August 2020 4Today’s Speakers Over 100 Years of Combined Steel Industry Experience Barbara R. Smith Paul Lawrence Chairman of the Board, President Vice President and Chief Financial Officer and Chief Executive Officer Tracy L. Porter Ty Garrison Executive Vice President and Vice President, East Region Chief Operating Officer Brad Cottrell Billy Milligan Vice President and Chief Supply Chain Officer Vice President, Marketing and Enterprise Support CMC Investor Day | August 2020 4

Diverse, Highly Qualified Board Barbara R. Smith J. David Smith Richard B. Kelson Chairman of the Board, President and Chief Retired Chairman, President and CEO, President and CEO, ServCo, LLC Executive Officer Euromax International, Inc. Vicki Avril-Groves Peter R. Matt Charles L. Szews Retired – Former President and CEO Executive Vice President and Chief Financial Retired – Former President and CEO of IPSCO Tubulars, Inc. Officer, Constellium N.V. of Oshkosh Corporation Lisa M. Barton Rick J. Mills Joseph C. Winkler Executive Vice President – Utilities for Former Corporate Vice President and President Lead Director; Former Chairman and CEO American Electric Power Co., Inc. of Components Group of Cummins, Inc. of Complete Production Services, Inc. Rhys J. Best Sarah Raiss Former Chairman, President, CEO and Retired Executive Vice President Corporate Director of Lone Star Technologies, Inc. Services, TransCanada Corporation CMC Investor Day | August 2020 5Diverse, Highly Qualified Board Barbara R. Smith J. David Smith Richard B. Kelson Chairman of the Board, President and Chief Retired Chairman, President and CEO, President and CEO, ServCo, LLC Executive Officer Euromax International, Inc. Vicki Avril-Groves Peter R. Matt Charles L. Szews Retired – Former President and CEO Executive Vice President and Chief Financial Retired – Former President and CEO of IPSCO Tubulars, Inc. Officer, Constellium N.V. of Oshkosh Corporation Lisa M. Barton Rick J. Mills Joseph C. Winkler Executive Vice President – Utilities for Former Corporate Vice President and President Lead Director; Former Chairman and CEO American Electric Power Co., Inc. of Components Group of Cummins, Inc. of Complete Production Services, Inc. Rhys J. Best Sarah Raiss Former Chairman, President, CEO and Retired Executive Vice President Corporate Director of Lone Star Technologies, Inc. Services, TransCanada Corporation CMC Investor Day | August 2020 5

Strategic Overview B A R B A R A S M I T H CMC Investor Day | August 2020 6Strategic Overview B A R B A R A S M I T H CMC Investor Day | August 2020 6

A Leader in Concrete Reinforcement • Highly focused producer of long steel products serving North America and Eastern Europe • Completely repositioned, poised for growth • Leader in attractive rebar and merchant bar markets • Vertical integration is a key to our success • Strong balance sheet and disciplined capital allocation strategy • Focused on creating shareholder value CMC Investor Day | August 2020 7A Leader in Concrete Reinforcement • Highly focused producer of long steel products serving North America and Eastern Europe • Completely repositioned, poised for growth • Leader in attractive rebar and merchant bar markets • Vertical integration is a key to our success • Strong balance sheet and disciplined capital allocation strategy • Focused on creating shareholder value CMC Investor Day | August 2020 7

CMC’s Values Drive Our Company W H A T W E D O • Place the customer at the core of all we do • Stay committed to our employees • Give back to our communities • Create value for our investors W H A T W E B E L I E V E • Act with integrity • Make safety a top priority • Promote collaboration to provide exceptional results • Encourage excellence by challenging ourselves to improve • Build on our sustainable business model CMC Investor Day | August 2020 8CMC’s Values Drive Our Company W H A T W E D O • Place the customer at the core of all we do • Stay committed to our employees • Give back to our communities • Create value for our investors W H A T W E B E L I E V E • Act with integrity • Make safety a top priority • Promote collaboration to provide exceptional results • Encourage excellence by challenging ourselves to improve • Build on our sustainable business model CMC Investor Day | August 2020 8

CMC’s Focus on Growth Execute on Opportunities for Organic and Acquired Growth C U L T U R E A leader in attractive and MBQ opportunities Strong relationships with customers, growing U.S. rebar market suppliers, the community, the environment and each other V A L U E S • Dedicate ourselves to safety Next phase of network Polish strategy • Deliver industry-leading customer service optimization • Act with integrity • Promote collaboration • Encourage excellence Specialty products: • Build on sustainable business model • CryoSTEEL® • Fence Post Acquisitions • ChromX® • Spooled Rebar • GalvaBar® C R I T I C A L C O M P E T E N C I E S Relationships & Service | Operational Excellence | Innovation | Vertical Integration | M&A and Integration CMC Investor Day | August 2020 9CMC’s Focus on Growth Execute on Opportunities for Organic and Acquired Growth C U L T U R E A leader in attractive and MBQ opportunities Strong relationships with customers, growing U.S. rebar market suppliers, the community, the environment and each other V A L U E S • Dedicate ourselves to safety Next phase of network Polish strategy • Deliver industry-leading customer service optimization • Act with integrity • Promote collaboration • Encourage excellence Specialty products: • Build on sustainable business model • CryoSTEEL® • Fence Post Acquisitions • ChromX® • Spooled Rebar • GalvaBar® C R I T I C A L C O M P E T E N C I E S Relationships & Service | Operational Excellence | Innovation | Vertical Integration | M&A and Integration CMC Investor Day | August 2020 9

Our Strategic Repositioning Transformed CMC 2017 2017 2017 2018 Durant, OK Associated 7 Yards in Gerdau's micro mill Steel Southeast rebar Workers U.S. assets 2012 2012 2013 2014 2015 2017 2018 2018 2018 Sisak pipe Rosslau Trinecke Howell Australia Cometals Cometals Australia Structural operation fab shop (Czech Metal distribution Steel steel steel (Croatia) (Germany) Republic) Company trading fabrication 2011 3Q20 (LTM) Core Operations 68% Core Operations 100% Assets $3.9B Assets $3.9B (1) (1) CMC ROIC 1% CMC ROIC 12% CMC's Transformation Has Been a Self-Funded and Strategic Shift in Our Assets to Leverage Our Core Capabilities (1) ROIC – Return on Invested Capital is defined as After-tax Operating Profit divided by (Total Assets less Cash & Cash Equivalents less Non-Interest Bearing Liabilities) CMC Investor Day | August 2020 10 DIVESTITURES GROWTHOur Strategic Repositioning Transformed CMC 2017 2017 2017 2018 Durant, OK Associated 7 Yards in Gerdau's micro mill Steel Southeast rebar Workers U.S. assets 2012 2012 2013 2014 2015 2017 2018 2018 2018 Sisak pipe Rosslau Trinecke Howell Australia Cometals Cometals Australia Structural operation fab shop (Czech Metal distribution Steel steel steel (Croatia) (Germany) Republic) Company trading fabrication 2011 3Q20 (LTM) Core Operations 68% Core Operations 100% Assets $3.9B Assets $3.9B (1) (1) CMC ROIC 1% CMC ROIC 12% CMC's Transformation Has Been a Self-Funded and Strategic Shift in Our Assets to Leverage Our Core Capabilities (1) ROIC – Return on Invested Capital is defined as After-tax Operating Profit divided by (Total Assets less Cash & Cash Equivalents less Non-Interest Bearing Liabilities) CMC Investor Day | August 2020 10 DIVESTITURES GROWTH

CMC Today U . S . A N D P O L A N D S H A R E T H E S A M E S T R U C T U R E S T R O N G P O S I T I O N S I N A L L M A J O R P R O D U C T S Recycling Rebar Rebar #1 #2 • 42 U.S. locations, 12 Poland locations • Profitable, low-cost source of raw materials for our mills, with additional upside MBQ MBQ #3 #1 Mills • 10 U.S. locations, 1 Poland location • The economic engine of CMC Fence Post Wire Rod #1 #2 Fabrication (1) • 90 U.S. locations , 5 Poland locations • Demand pull for our mills and insight Fabricated Rebar Mesh #1 #1 into end market demand U.S. POLAND (1) U.S. fabrication locations include Rebar Fabrication, Construction Related Products, and Fence Post CMC Investor Day | August 2020 11CMC Today U . S . A N D P O L A N D S H A R E T H E S A M E S T R U C T U R E S T R O N G P O S I T I O N S I N A L L M A J O R P R O D U C T S Recycling Rebar Rebar #1 #2 • 42 U.S. locations, 12 Poland locations • Profitable, low-cost source of raw materials for our mills, with additional upside MBQ MBQ #3 #1 Mills • 10 U.S. locations, 1 Poland location • The economic engine of CMC Fence Post Wire Rod #1 #2 Fabrication (1) • 90 U.S. locations , 5 Poland locations • Demand pull for our mills and insight Fabricated Rebar Mesh #1 #1 into end market demand U.S. POLAND (1) U.S. fabrication locations include Rebar Fabrication, Construction Related Products, and Fence Post CMC Investor Day | August 2020 11

Vertical Integration is a Key to Our Success Our Business is Managed Vertically to Maximize Returns R O L E O F E A C H L I N K Recycling Mills Fabrication 1. Economically supply Mills 1. Economic heart of value chain 1. Baseload for Mills 2. Ensure scrap availability in certain 2. Most profitable at high operating rates 2. CMC volumes protected from imports competitive markets 3. Significantly over-earn cost of capital 3. Direct connection to customers 3. Return cost of capital through-the-cycle 4. Forward visibility 4. Investment in nonferrous separation 5. Internal price hedge technology to unlock value of shredder operations CMC Investor Day | August 2020 12Vertical Integration is a Key to Our Success Our Business is Managed Vertically to Maximize Returns R O L E O F E A C H L I N K Recycling Mills Fabrication 1. Economically supply Mills 1. Economic heart of value chain 1. Baseload for Mills 2. Ensure scrap availability in certain 2. Most profitable at high operating rates 2. CMC volumes protected from imports competitive markets 3. Significantly over-earn cost of capital 3. Direct connection to customers 3. Return cost of capital through-the-cycle 4. Forward visibility 4. Investment in nonferrous separation 5. Internal price hedge technology to unlock value of shredder operations CMC Investor Day | August 2020 12

Rebar Asset Acquisition Exceeded Our Expectations W H A T W E E X P E C T E D W H A T W E F O U N D W H A T W E A C H I E V E D M O V I N G F O R W A R D … Assets & Operations Assets & Operations Enhanced safety Continue Network Optimization • Good asset base • Assets in better condition • SIOP Improved employee complementing existing than expected (capex • MBQ growth engagement operations outlook lower) • Good operators Synergies 2x our Synergies expectations • $250M in capex over 5 years • $80M in run-rate synergies Commercial Identified essential capex Integration • Lack of commercial focus • Exited TSA in 4 months, got all Improved customer service Market locations on CMC systems • Imports to continue at elevated • More rapid integration Began network optimization (then pre-232) levels People & Safety Integration• Safety performance not at Deleveraged faster • 1-year TSA for systems support CMC’s standard • Employees appreciate our Enhanced efficiency Synergies culture and returns • $40M in annual synergies CMC Investor Day | August 2020 13Rebar Asset Acquisition Exceeded Our Expectations W H A T W E E X P E C T E D W H A T W E F O U N D W H A T W E A C H I E V E D M O V I N G F O R W A R D … Assets & Operations Assets & Operations Enhanced safety Continue Network Optimization • Good asset base • Assets in better condition • SIOP Improved employee complementing existing than expected (capex • MBQ growth engagement operations outlook lower) • Good operators Synergies 2x our Synergies expectations • $250M in capex over 5 years • $80M in run-rate synergies Commercial Identified essential capex Integration • Lack of commercial focus • Exited TSA in 4 months, got all Improved customer service Market locations on CMC systems • Imports to continue at elevated • More rapid integration Began network optimization (then pre-232) levels People & Safety Integration• Safety performance not at Deleveraged faster • 1-year TSA for systems support CMC’s standard • Employees appreciate our Enhanced efficiency Synergies culture and returns • $40M in annual synergies CMC Investor Day | August 2020 13

CMC’s Growth Strategy It’s What’s Inside That Counts C R I T I C A L C O M P E T E N C I E S L E A D E R I N A T T R A C T I V E A N D G R O W I N G C O N C R E T E R E I N F O R C E M E N T M A R K E T • Relationships & Service • Highly efficient, well-positioned assets • Operational Excellence • Track record of innovation and customer service • Innovation • M&A and Integration • Vertical Integration CMC Investor Day | August 2020 14CMC’s Growth Strategy It’s What’s Inside That Counts C R I T I C A L C O M P E T E N C I E S L E A D E R I N A T T R A C T I V E A N D G R O W I N G C O N C R E T E R E I N F O R C E M E N T M A R K E T • Relationships & Service • Highly efficient, well-positioned assets • Operational Excellence • Track record of innovation and customer service • Innovation • M&A and Integration • Vertical Integration CMC Investor Day | August 2020 14

CMC’s Growth Strategy Identify Attractive Adjacencies that Complement Concrete Reinforcement P O T E N T I A L C R I T I C A L C O M P E T E N C I E S S T R A T E G I C W I N N E R S O P P O R T U N I T I E S MBQ growth MBQ growth Triple M Triple M Flat Products Downstream products Downstream products Poland expansion Tubular Products Concrete product adjacencies Poland expansion Wire rod Concrete product adjacencies Wire rod CMC Investor Day | August 2020 15CMC’s Growth Strategy Identify Attractive Adjacencies that Complement Concrete Reinforcement P O T E N T I A L C R I T I C A L C O M P E T E N C I E S S T R A T E G I C W I N N E R S O P P O R T U N I T I E S MBQ growth MBQ growth Triple M Triple M Flat Products Downstream products Downstream products Poland expansion Tubular Products Concrete product adjacencies Poland expansion Wire rod Concrete product adjacencies Wire rod CMC Investor Day | August 2020 15

Well-Positioned for Continued Success Section 232 actions helpful but not Fears of excess-supply may be essential to our success exaggerated • Tariffs have normalized the competitive • Measured industry long-product capacity environment coming onstream • Enable U.S. manufacturers to benefit from • Rebar market is more localized than being the world’s most-efficient other steel products • Rebar imports have settled at historical levels, down from 25% • CMC has been successful regardless of the tariff environment COVID’s impact has, thus far, been manageable • We have learned how to operate without disruption in a socially distanced work environment • Demand thus far has been stable CMC Investor Day | August 2020 16Well-Positioned for Continued Success Section 232 actions helpful but not Fears of excess-supply may be essential to our success exaggerated • Tariffs have normalized the competitive • Measured industry long-product capacity environment coming onstream • Enable U.S. manufacturers to benefit from • Rebar market is more localized than being the world’s most-efficient other steel products • Rebar imports have settled at historical levels, down from 25% • CMC has been successful regardless of the tariff environment COVID’s impact has, thus far, been manageable • We have learned how to operate without disruption in a socially distanced work environment • Demand thus far has been stable CMC Investor Day | August 2020 16

Core Strength Makes CMC a Core Holding • Highly profitable leader in attractive end-markets • High-quality assets, best-in-class customer service, $634M track-record of revenue-generating product innovation • Proven ability to deploy capital effectively (1)(3) TTM Core EBITDA – Acquire, integrate and enhance production assets: Poland, Gerdau rebar assets – Greenfield success 12% • Clear strategy for organic and acquired growth • Wise stewards of shareholder funds (4) (1) ROIC – Generated $606M of free cash flow over last 12 months , leverage now below 2.0x – Pipeline of equally attractive investments 1.2x • Record of superior shareholder returns (2) – Three-year TSR of 23% vs. (37%) for peer group mean (1) • Highly experienced Board and management team Net Debt-to-EBITDA (1) Free Cash Flow, Core EBITDA, and Net Debt-to-EBITDA are non-GAAP measures. For a reconciliation of non-GAAP measures to the most directly comparable GAAP financial measures, see the appendix to this document (2) Total Shareholder Return (TSR) calculated as of August 3, 2020. Peers included: Nucor, Steel Dynamics, TimkenSteel, US Steel, Cleveland Cliffs, and Schnitzer Steel Industries. (3) The definition of Core EBITDA can be found in the appendix of this document (4) ROIC, or Return on Invested Capital is defined as After-tax Operating Profit divided by (Total Assets less Cash & Cash Equivalents less Non-Interest Bearing Liabilities) CMC Investor Day | August 2020 17Core Strength Makes CMC a Core Holding • Highly profitable leader in attractive end-markets • High-quality assets, best-in-class customer service, $634M track-record of revenue-generating product innovation • Proven ability to deploy capital effectively (1)(3) TTM Core EBITDA – Acquire, integrate and enhance production assets: Poland, Gerdau rebar assets – Greenfield success 12% • Clear strategy for organic and acquired growth • Wise stewards of shareholder funds (4) (1) ROIC – Generated $606M of free cash flow over last 12 months , leverage now below 2.0x – Pipeline of equally attractive investments 1.2x • Record of superior shareholder returns (2) – Three-year TSR of 23% vs. (37%) for peer group mean (1) • Highly experienced Board and management team Net Debt-to-EBITDA (1) Free Cash Flow, Core EBITDA, and Net Debt-to-EBITDA are non-GAAP measures. For a reconciliation of non-GAAP measures to the most directly comparable GAAP financial measures, see the appendix to this document (2) Total Shareholder Return (TSR) calculated as of August 3, 2020. Peers included: Nucor, Steel Dynamics, TimkenSteel, US Steel, Cleveland Cliffs, and Schnitzer Steel Industries. (3) The definition of Core EBITDA can be found in the appendix of this document (4) ROIC, or Return on Invested Capital is defined as After-tax Operating Profit divided by (Total Assets less Cash & Cash Equivalents less Non-Interest Bearing Liabilities) CMC Investor Day | August 2020 17

Macro and Demand Drivers B I L L Y M I L L I G A N CMC Investor Day | August 2020 18Macro and Demand Drivers B I L L Y M I L L I G A N CMC Investor Day | August 2020 18

CMC is Well-Positioned in Attractive Markets • CMC serves growing demand from attractive end-markets and geographies • Demand for CMC’s products is underpinned by steady need for infrastructure repair and improvement, non-residential and residential construction and the industrial economy – Demand in Sunbelt aligns with CMC manufacturing footprint – Infrastructure spending is stable, with potential upside – MBQ, a growth area for CMC, is tied to manufacturing and industrial demand • Current trade environment a helpful, but not essential tailwind – Tariffs aside, industry successfully brought trade cases against illegally imported products, including Rebar and Wire Rod, which impact CMC directly • COVID-19 impact expected to be largely near-term – Industry forecasts project growth in 2021 and beyond – Staying up to date on market drivers CMC Investor Day | August 2020 19CMC is Well-Positioned in Attractive Markets • CMC serves growing demand from attractive end-markets and geographies • Demand for CMC’s products is underpinned by steady need for infrastructure repair and improvement, non-residential and residential construction and the industrial economy – Demand in Sunbelt aligns with CMC manufacturing footprint – Infrastructure spending is stable, with potential upside – MBQ, a growth area for CMC, is tied to manufacturing and industrial demand • Current trade environment a helpful, but not essential tailwind – Tariffs aside, industry successfully brought trade cases against illegally imported products, including Rebar and Wire Rod, which impact CMC directly • COVID-19 impact expected to be largely near-term – Industry forecasts project growth in 2021 and beyond – Staying up to date on market drivers CMC Investor Day | August 2020 19

Mills Strategically Located Near Rebar and MBQ Demand HIGH DEMAND LOW DEMAND CMC Investor Day | August 2020 20Mills Strategically Located Near Rebar and MBQ Demand HIGH DEMAND LOW DEMAND CMC Investor Day | August 2020 20

End Markets We Serve I N F R A S T R U C T U R E N O N - R E S I D E N T I A L R E S I D E N T I A L O E M / A G R I C U L T U R E 16% 15% 32% 37% of shipments of shipments of shipments of shipments Consistent Through the Cycle, Mid-to-Late Cycle Early-to-Mid Cycle Mid-to-Late Cycle With Late and Early Cycle Bias IMG IMG IMG CMC Investor Day | August 2020 21End Markets We Serve I N F R A S T R U C T U R E N O N - R E S I D E N T I A L R E S I D E N T I A L O E M / A G R I C U L T U R E 16% 15% 32% 37% of shipments of shipments of shipments of shipments Consistent Through the Cycle, Mid-to-Late Cycle Early-to-Mid Cycle Mid-to-Late Cycle With Late and Early Cycle Bias IMG IMG IMG CMC Investor Day | August 2020 21

Steadily Increasing End-Market Demand U.S. Non-Residential Construction Spending U.S. Industrial Spending $600,000 $250,000 2.2% 7.6% CAGR CAGR $500,000 $200,000 $400,000 $150,000 $300,000 $100,000 $200,000 $50,000 $100,000 $0 $0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2011 2012 2013 2014 2015 2016 2017 2018 2019 U.S. Infrastructure Spending Poland Construction Activity (Volume Index) $1,000,000 160.0 2.6% 12.1% CAGR $800,000 CAGR 120.0 $600,000 80.0 $400,000 40.0 $200,000 $0 0.0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2011 2012 2013 2014 2015 2016 2017 2018 2019 Source: U.S. Census Bureau and Eurostat CMC Investor Day | August 2020 22 Millions Millions MillionsSteadily Increasing End-Market Demand U.S. Non-Residential Construction Spending U.S. Industrial Spending $600,000 $250,000 2.2% 7.6% CAGR CAGR $500,000 $200,000 $400,000 $150,000 $300,000 $100,000 $200,000 $50,000 $100,000 $0 $0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2011 2012 2013 2014 2015 2016 2017 2018 2019 U.S. Infrastructure Spending Poland Construction Activity (Volume Index) $1,000,000 160.0 2.6% 12.1% CAGR $800,000 CAGR 120.0 $600,000 80.0 $400,000 40.0 $200,000 $0 0.0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2011 2012 2013 2014 2015 2016 2017 2018 2019 Source: U.S. Census Bureau and Eurostat CMC Investor Day | August 2020 22 Millions Millions Millions

COVID-19 Expected to be a Near-Term Disruption CMC Bidding Activity Remains Near Historic Highs Cement Consumption Expected to Rebound Quickly C O N S U M P T I O N B Y E N D - M A R K E T 225% 120,000 200% 90,000 60,000 175% 30,000 0 2020 2021 2022 2023 2024 2025 150% Infrastructure Residential Nonresidential 125% T O T A L C O N S U M P T I O N 4.00% 100% 2.00% 2.9% 2.7% 2.5% 2.5% 1.7% 0.00% 75% -2.00% (5.5%) -4.00% 50% -6.00% 2020 2021 2022 2023 2024 2025 Source: PCA Summer 2020 forecast and company data CMC Investor Day | August 2020 23 Tons (Indexed) Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 TonsCOVID-19 Expected to be a Near-Term Disruption CMC Bidding Activity Remains Near Historic Highs Cement Consumption Expected to Rebound Quickly C O N S U M P T I O N B Y E N D - M A R K E T 225% 120,000 200% 90,000 60,000 175% 30,000 0 2020 2021 2022 2023 2024 2025 150% Infrastructure Residential Nonresidential 125% T O T A L C O N S U M P T I O N 4.00% 100% 2.00% 2.9% 2.7% 2.5% 2.5% 1.7% 0.00% 75% -2.00% (5.5%) -4.00% 50% -6.00% 2020 2021 2022 2023 2024 2025 Source: PCA Summer 2020 forecast and company data CMC Investor Day | August 2020 23 Tons (Indexed) Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Tons

Enormous Infrastructure Potential Infrastructure % of Government Spending 9.0% Peak = 8.1% 8.0% 7.0% 6.0% 5.0% Low = 2.4% 4.0% 3.0% 2.0% 1.0% – Source: U.S. Census Bureau, Bureau of Economic Analysis CMC Investor Day | August 2020 24 1947 1948 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018Enormous Infrastructure Potential Infrastructure % of Government Spending 9.0% Peak = 8.1% 8.0% 7.0% 6.0% 5.0% Low = 2.4% 4.0% 3.0% 2.0% 1.0% – Source: U.S. Census Bureau, Bureau of Economic Analysis CMC Investor Day | August 2020 24 1947 1948 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018

Emerging Congressional Consensus on Need for Increased Infrastructure Spending C U R R E N T S T A T E : H O U S E B I L L : T H E F A S T A C T T H E M O V I N G F O R W A R D A C T • Expires September 30, 2020 Incremental 1.4M Tons per Year • Administration and Congress must • 46% increase over current FAST Act spending levels reach agreement prior to August to • $1.2T total investment avoid an extension • Includes 5-year, $319B authorization for surface transportation • Waives state matching fund requirements for 2021 • Provides funding for development of Vehicles Miles Traveled program • Approved by Transportation & Infrastructure and Ways & Means Committees on June 2, 2020 S E N A T E B I L L : A M E R I C A ’ S T R A N S P O R T A T I O N I N F R A S T R U C T U R E A C T Incremental 1M Tons per Year • 27% increase over current FAST Act spending levels • $287B over 5 years for surface transportation • Approved by EPW Committee on June 4, 2020 CMC Investor Day | August 2020 25Emerging Congressional Consensus on Need for Increased Infrastructure Spending C U R R E N T S T A T E : H O U S E B I L L : T H E F A S T A C T T H E M O V I N G F O R W A R D A C T • Expires September 30, 2020 Incremental 1.4M Tons per Year • Administration and Congress must • 46% increase over current FAST Act spending levels reach agreement prior to August to • $1.2T total investment avoid an extension • Includes 5-year, $319B authorization for surface transportation • Waives state matching fund requirements for 2021 • Provides funding for development of Vehicles Miles Traveled program • Approved by Transportation & Infrastructure and Ways & Means Committees on June 2, 2020 S E N A T E B I L L : A M E R I C A ’ S T R A N S P O R T A T I O N I N F R A S T R U C T U R E A C T Incremental 1M Tons per Year • 27% increase over current FAST Act spending levels • $287B over 5 years for surface transportation • Approved by EPW Committee on June 4, 2020 CMC Investor Day | August 2020 25

CMC Has Performed Well Regardless of Trade Environment O V E R T H E C Y C L E Import market share Mill volumes Low costs and fabrication pull-through have kept our Mill utilizations high 1,400,000 35% 1,200,000 30% 1,000,000 25% 800,000 20% 600,000 15% 400,000 10% 200,000 5% - NA Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2013 2014 2015 2016 2017 2018 2019 2020 CMC Investor Day | August 2020 26 TonsCMC Has Performed Well Regardless of Trade Environment O V E R T H E C Y C L E Import market share Mill volumes Low costs and fabrication pull-through have kept our Mill utilizations high 1,400,000 35% 1,200,000 30% 1,000,000 25% 800,000 20% 600,000 15% 400,000 10% 200,000 5% - NA Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2013 2014 2015 2016 2017 2018 2019 2020 CMC Investor Day | August 2020 26 Tons

Recap Strong position in an attractive Favorable demand dynamics Upside potential from new Tariffs have changed market, supplying growing (US, Europe, other end infrastructure authorization trade regime, but CMC has geographies and end-markets markets) performed well regardless of market environment CMC Investor Day | August 2020 27Recap Strong position in an attractive Favorable demand dynamics Upside potential from new Tariffs have changed market, supplying growing (US, Europe, other end infrastructure authorization trade regime, but CMC has geographies and end-markets markets) performed well regardless of market environment CMC Investor Day | August 2020 27

Overview of Operations T Y G A R R I S O N CMC Investor Day | August 2020 28Overview of Operations T Y G A R R I S O N CMC Investor Day | August 2020 28

Safety is Our Top Priority • We take the safety and well-being of our employees very seriously • No amount of production or profit is worth injury to any employee • Reduced incidents from 16.2 per 1000 person hours in 1997 to 1.5 in 2019 • Comparable to best-in-industry • Committed to improving even further CMC Investor Day | August 2020 29Safety is Our Top Priority • We take the safety and well-being of our employees very seriously • No amount of production or profit is worth injury to any employee • Reduced incidents from 16.2 per 1000 person hours in 1997 to 1.5 in 2019 • Comparable to best-in-industry • Committed to improving even further CMC Investor Day | August 2020 29

Complementary Segments WEST CENTRAL EAST CMC mills CMC recycling CMC fabrication CMC Investor Day | August 2020 30Complementary Segments WEST CENTRAL EAST CMC mills CMC recycling CMC fabrication CMC Investor Day | August 2020 30

Strategic Benefits of Vertical Integration R E C Y C L I N G M I L L S F A B R I C A T I O N Reliable low-cost source of scrap Economic engine of CMC High-visibility demand pull-through 40% 60% 60% 40% 100% Recycling Americas Mills Fabrication Tons Shipped Internally Tons Shipped Externally Note: Shipment data as of 3Q20 (LTM), includes volumes shipped by recycling facilities which are classified in our mills segment CMC Investor Day | August 2020 31Strategic Benefits of Vertical Integration R E C Y C L I N G M I L L S F A B R I C A T I O N Reliable low-cost source of scrap Economic engine of CMC High-visibility demand pull-through 40% 60% 60% 40% 100% Recycling Americas Mills Fabrication Tons Shipped Internally Tons Shipped Externally Note: Shipment data as of 3Q20 (LTM), includes volumes shipped by recycling facilities which are classified in our mills segment CMC Investor Day | August 2020 31

Tons Americas Recycling • Profitable, low-cost source of scrap for our mills with additional upside • We continue to optimize this segment • Invested $100M over past five years to expand recycling capabilities and improve profitability – Lexington non-ferrous separation, which captures additional value from our recycling by-product – State-of-the-art wire chopping technology at Fort Worth facility G R O W I N G N O N - F E R R O U S R E C O V E R Y 1,400,000 140,000 1,200,000 120,000 1,000,000 100,000 800,000 80,000 600,000 60,000 400,000 40,000 200,000 20,000 0 0 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 YTD 2020 Annualized Shredded Production Non-Ferrous Tons Recovered CMC Investor Day | August 2020 32 TonsTons Americas Recycling • Profitable, low-cost source of scrap for our mills with additional upside • We continue to optimize this segment • Invested $100M over past five years to expand recycling capabilities and improve profitability – Lexington non-ferrous separation, which captures additional value from our recycling by-product – State-of-the-art wire chopping technology at Fort Worth facility G R O W I N G N O N - F E R R O U S R E C O V E R Y 1,400,000 140,000 1,200,000 120,000 1,000,000 100,000 800,000 80,000 600,000 60,000 400,000 40,000 200,000 20,000 0 0 FY 2013 FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 YTD 2020 Annualized Shredded Production Non-Ferrous Tons Recovered CMC Investor Day | August 2020 32 Tons

Americas Mills Mini Mills 6 • The economic engine of CMC • Capacity to produce ~6 million tons of finished long steel products annually • World-class commercial and manufacturing flexibility • Widest range of customer solutions in the industry Micro Mills 2 • Consistently exceed nameplate capacity • Investing in producing higher-margin products Rerolling Mills 2 CMC Investor Day | August 2020 33Americas Mills Mini Mills 6 • The economic engine of CMC • Capacity to produce ~6 million tons of finished long steel products annually • World-class commercial and manufacturing flexibility • Widest range of customer solutions in the industry Micro Mills 2 • Consistently exceed nameplate capacity • Investing in producing higher-margin products Rerolling Mills 2 CMC Investor Day | August 2020 33

Americas Fabrication • Fabrication provides Mills with: – Baseload demand – Insights/visibility into end-market demand – Optimized production planning – CMC volumes protected from imports • Enable us to understand the customer, because we interact with them directly CMC Investor Day | August 2020 34Americas Fabrication • Fabrication provides Mills with: – Baseload demand – Insights/visibility into end-market demand – Optimized production planning – CMC volumes protected from imports • Enable us to understand the customer, because we interact with them directly CMC Investor Day | August 2020 34

Strategic Benefits of Rebar Asset Acquisition Transaction Applied Best Practices After • Acquired 2.7M tons of finished steel • Transferred best practices to • Concentrated rebar production capacity for ~$700 million the acquired talent in underutilized mills – Added flexibility to network– Focused on the culture– Improved utilization and reduced production cost per ton by 9% – Created opportunities for – Completed customer optimization service training • Created additional production capacity for MBQ • Fostered collaboration Lesson Learned: It wasn’t acquiring facilities or capital spending; it was re-aligning the acquired assets while empowering good people to follow their instincts and serve the customer CMC Investor Day | August 2020 35Strategic Benefits of Rebar Asset Acquisition Transaction Applied Best Practices After • Acquired 2.7M tons of finished steel • Transferred best practices to • Concentrated rebar production capacity for ~$700 million the acquired talent in underutilized mills – Added flexibility to network– Focused on the culture– Improved utilization and reduced production cost per ton by 9% – Created opportunities for – Completed customer optimization service training • Created additional production capacity for MBQ • Fostered collaboration Lesson Learned: It wasn’t acquiring facilities or capital spending; it was re-aligning the acquired assets while empowering good people to follow their instincts and serve the customer CMC Investor Day | August 2020 35

Unlocking Human Capital • We kept the same talented steelmakers, but transformed the culture • Provided employees with more data • As a result, costs are down significantly CMC Investor Day | August 2020 36Unlocking Human Capital • We kept the same talented steelmakers, but transformed the culture • Provided employees with more data • As a result, costs are down significantly CMC Investor Day | August 2020 36

( 1 ) I N T E R N A T I O N A L M I L L S E G M E N T A D J U S T E D E B I T D A Poland is Core to Our Business $140 $120 20.1% CAGR $100 • Highly profitable, world-class presence in growing region $80 – Invested $275M to improve operations $131.7 $60 and expand product line $100.1 – 20.1% Adjusted EBITDA CAGR (2015-2019) $40 $76.1 $57.6 $48.1 $20 • Structured identically to the U.S. $0 – Recycling → Mills → Fab FY'15 FY'16 FY'17 FY'18 FY'19 • Outstanding talent, positive culture C M C P O L A N D L O C A T I O N S A N D F O R E C A S T E D • We share expertise inter-region 2019 - 2 0 2 0 F I X E D I N V E S T M E N T G R O W T H HIGH LOW CMC recycling CMC mills CMC fabrication Source: Moody’s Analytics (1) International Mill EBITDA shows Segment Adjusted EBITDA from Continuing Operations CMC Investor Day | August 2020 37 Adjusted EBITDA ($M)( 1 ) I N T E R N A T I O N A L M I L L S E G M E N T A D J U S T E D E B I T D A Poland is Core to Our Business $140 $120 20.1% CAGR $100 • Highly profitable, world-class presence in growing region $80 – Invested $275M to improve operations $131.7 $60 and expand product line $100.1 – 20.1% Adjusted EBITDA CAGR (2015-2019) $40 $76.1 $57.6 $48.1 $20 • Structured identically to the U.S. $0 – Recycling → Mills → Fab FY'15 FY'16 FY'17 FY'18 FY'19 • Outstanding talent, positive culture C M C P O L A N D L O C A T I O N S A N D F O R E C A S T E D • We share expertise inter-region 2019 - 2 0 2 0 F I X E D I N V E S T M E N T G R O W T H HIGH LOW CMC recycling CMC mills CMC fabrication Source: Moody’s Analytics (1) International Mill EBITDA shows Segment Adjusted EBITDA from Continuing Operations CMC Investor Day | August 2020 37 Adjusted EBITDA ($M)

VALUE-ADD PRODUCTS We Have Enhanced the Earnings Power of Our Polish Operations ( 1 ) N O N - M A T E R I A L C O G S P E R T O N H I S T O R I C A L P R O D U C T M I X 100% 110 90% 21% 22% 25% 100 28% 80% 90 70% 30% 80 60% 38% 37% 35% 50% 70 40% 60 30% 50 48% 20% 40% 38% 37% 40 10% 30 0% FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 Last 12 2016 2017 2018 2019 Months Rebar Merchant Wire Rod (1) Non-Material Cost of Goods (COGS) per Ton Indexed to FY 2013 CMC Investor Day | August 2020 38VALUE-ADD PRODUCTS We Have Enhanced the Earnings Power of Our Polish Operations ( 1 ) N O N - M A T E R I A L C O G S P E R T O N H I S T O R I C A L P R O D U C T M I X 100% 110 90% 21% 22% 25% 100 28% 80% 90 70% 30% 80 60% 38% 37% 35% 50% 70 40% 60 30% 50 48% 20% 40% 38% 37% 40 10% 30 0% FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 Last 12 2016 2017 2018 2019 Months Rebar Merchant Wire Rod (1) Non-Material Cost of Goods (COGS) per Ton Indexed to FY 2013 CMC Investor Day | August 2020 38

CMC is Well-Positioned in Europe, With Significant Growth Potential • Polish and German economies remain among the most attractive in Europe E A F B L A S T – GDP expected to return to growth in 2021, following COVID- United # # 19 impact in 2020 States CMC 100% N/A – German construction activity expected to remain relatively resilient, while Poland likely to invest more on infrastructure EAF Blast European Union 42% 58% • Competitive advantage vs. European competitors • Current mill expansion project • New products, including wire mesh CMC’s EAF-only mill positions it well for a carbon-tax environment • Inorganic growth opportunities CMC Investor Day | August 2020 39CMC is Well-Positioned in Europe, With Significant Growth Potential • Polish and German economies remain among the most attractive in Europe E A F B L A S T – GDP expected to return to growth in 2021, following COVID- United # # 19 impact in 2020 States CMC 100% N/A – German construction activity expected to remain relatively resilient, while Poland likely to invest more on infrastructure EAF Blast European Union 42% 58% • Competitive advantage vs. European competitors • Current mill expansion project • New products, including wire mesh CMC’s EAF-only mill positions it well for a carbon-tax environment • Inorganic growth opportunities CMC Investor Day | August 2020 39

Recap • Safety is our Top Priority • Vertical integration is key to success in U.S. and Europe • Our businesses are complementary, both operationally and financially • Acquisition unleashed human capital • Poland is CMC’s testing ground, and our European expansion strategy has further to run CMC Investor Day | August 2020 40Recap • Safety is our Top Priority • Vertical integration is key to success in U.S. and Europe • Our businesses are complementary, both operationally and financially • Acquisition unleashed human capital • Poland is CMC’s testing ground, and our European expansion strategy has further to run CMC Investor Day | August 2020 40

Overview of SIOP B R A D C O T T R E L L CMC Investor Day | August 2020 41Overview of SIOP B R A D C O T T R E L L CMC Investor Day | August 2020 41

SIOP Function and Mandate C H A N G E O F M I N D S E T : • Sales Inventory & Operations Planning (SIOP) – Structured planning process to achieve consensus between sales, finance, procurement, manufacturing and logistics Operating Individual Mills to Optimizing a Network to – More-efficiently utilize assets, maintain Serve Specific Regions Maximize Output (Margin) While high levels of service, and avoid lost sales Minimizing Working Capital • Acquisition of rebar assets creates enormous opportunities to take working capital out of the system while increasing revenue CMC Investor Day | August 2020 42SIOP Function and Mandate C H A N G E O F M I N D S E T : • Sales Inventory & Operations Planning (SIOP) – Structured planning process to achieve consensus between sales, finance, procurement, manufacturing and logistics Operating Individual Mills to Optimizing a Network to – More-efficiently utilize assets, maintain Serve Specific Regions Maximize Output (Margin) While high levels of service, and avoid lost sales Minimizing Working Capital • Acquisition of rebar assets creates enormous opportunities to take working capital out of the system while increasing revenue CMC Investor Day | August 2020 42

Expanded Network Provides Opportunity for Nationally Coordinated SIOP P R E - A C Q U I S I T I O N , E A C H O F O U R S I X M I L L S P O S T - A C Q U I S I T I O N , W E H A V E A M U C H L A R G E R S E R V E D I T S O W N R E G I O N N E T W O R K T H A T W E C A N O P T I M I Z E WEST CENTRAL EAST WEST CENTRAL EAST CMC Investor Day | August 2020 43Expanded Network Provides Opportunity for Nationally Coordinated SIOP P R E - A C Q U I S I T I O N , E A C H O F O U R S I X M I L L S P O S T - A C Q U I S I T I O N , W E H A V E A M U C H L A R G E R S E R V E D I T S O W N R E G I O N N E T W O R K T H A T W E C A N O P T I M I Z E WEST CENTRAL EAST WEST CENTRAL EAST CMC Investor Day | August 2020 43

SIOP Areas of Opportunity Optimize production, to increase higher Support MBQ expansion margin products and reduce costs Optimize logistics costs Increase overall cost flexibility Improve in-stock availability Decrease working capital and customer service CMC Investor Day | August 2020 44SIOP Areas of Opportunity Optimize production, to increase higher Support MBQ expansion margin products and reduce costs Optimize logistics costs Increase overall cost flexibility Improve in-stock availability Decrease working capital and customer service CMC Investor Day | August 2020 44

Example: Duplicate Safety Inventory P R E - S I O P • Individual mills hold safety inventory to satisfy customers • Good for customer service, but effectively holding 2x-4x the inventory of certain key items across our 10 mills P O S T - S I O P • Optimize inventory of key items across our network • Example: Knoxville, TN and Cayce, SC mills are only 275 miles distant, with nearly equal freight lanes • Potential working capital reductions across the network of $50M CMC Investor Day | August 2020 45Example: Duplicate Safety Inventory P R E - S I O P • Individual mills hold safety inventory to satisfy customers • Good for customer service, but effectively holding 2x-4x the inventory of certain key items across our 10 mills P O S T - S I O P • Optimize inventory of key items across our network • Example: Knoxville, TN and Cayce, SC mills are only 275 miles distant, with nearly equal freight lanes • Potential working capital reductions across the network of $50M CMC Investor Day | August 2020 45

Example: Optimizing Logistics Lanes CMC Investor Day | August 2020 46Example: Optimizing Logistics Lanes CMC Investor Day | August 2020 46

SIOP: What Can Be Expected • Already seeing early-stage improvements in reduced conversion costs and higher margins • Future evidence of success – Improved service levels & working capital allocation – Growth in merchant bar tonnage – Higher mill utilization rates – Purchasing initiative • SIOP is a revenue as well as margin opportunity CMC Investor Day | August 2020 47SIOP: What Can Be Expected • Already seeing early-stage improvements in reduced conversion costs and higher margins • Future evidence of success – Improved service levels & working capital allocation – Growth in merchant bar tonnage – Higher mill utilization rates – Purchasing initiative • SIOP is a revenue as well as margin opportunity CMC Investor Day | August 2020 47

Triple M and CMC’s Growth Strategy T R A C Y P O R T E R CMC Investor Day | August 2020 48Triple M and CMC’s Growth Strategy T R A C Y P O R T E R CMC Investor Day | August 2020 48

CMC’s Triple M • CMC today announced its third micro-mill, i.e. Project Triple M • Will be world’s first MBQ capable micro mill • New facility to be located on same site as existing Steel Arizona operation and will serve West Coast market • Adds ~$50 million of incremental EBITDA • Investment paired with future exit and sale of Rancho Cucamonga facility CMC Investor Day | August 2020 49CMC’s Triple M • CMC today announced its third micro-mill, i.e. Project Triple M • Will be world’s first MBQ capable micro mill • New facility to be located on same site as existing Steel Arizona operation and will serve West Coast market • Adds ~$50 million of incremental EBITDA • Investment paired with future exit and sale of Rancho Cucamonga facility CMC Investor Day | August 2020 49

Triple M Has Significant Strategic and Financial Benefits Low Net Investment Helps Optimize CMC’s Asset Portfolio Environmentally Friendly • Monetizes land value from • Low-cost, more efficient micro mill • Win on emissions and energy usage California site replacing outdated high-cost capacity • Replace old Melt shop with newer, • Lower net outlay boosts ROIC• Direct extension of MBQ capabilities cleaner technology into West Coast market • Ability to direct-connect to renewable • Access plentiful local, low-cost energy sources scrap supply CMC Investor Day | August 2020 50Triple M Has Significant Strategic and Financial Benefits Low Net Investment Helps Optimize CMC’s Asset Portfolio Environmentally Friendly • Monetizes land value from • Low-cost, more efficient micro mill • Win on emissions and energy usage California site replacing outdated high-cost capacity • Replace old Melt shop with newer, • Lower net outlay boosts ROIC• Direct extension of MBQ capabilities cleaner technology into West Coast market • Ability to direct-connect to renewable • Access plentiful local, low-cost energy sources scrap supply CMC Investor Day | August 2020 50

Triple M Will Take CMC’s Micro Mill Technology to Mesa, AZ the Next Level • First in the world continuous- continuous MBQ capability • First steel mill in North America to adopt groundbreaking new power system Durant, OK • Learning and innovating from our previous micro mill experiences • CMC merchant bar quality products will efficiently service large West Coast market – Output sized right for target market Triple M CMC Investor Day | August 2020 51Triple M Will Take CMC’s Micro Mill Technology to Mesa, AZ the Next Level • First in the world continuous- continuous MBQ capability • First steel mill in North America to adopt groundbreaking new power system Durant, OK • Learning and innovating from our previous micro mill experiences • CMC merchant bar quality products will efficiently service large West Coast market – Output sized right for target market Triple M CMC Investor Day | August 2020 51

Overview of Triple M • Commissioning to begin in 2023 • Net project investment of ~$300 million • Adds ~$50 million of incremental EBITDA • Capacity of 500k tons, including 150k tons of merchant • To be located in Mesa, AZ Mesa Site Selection • Business friendly jurisdiction • Existing infrastructure • Shared engineering, maintenance, and supervisory staff • Excellent workforce • Epicenter of CMC’s micro mill knowledgebase CMC Investor Day | August 2020 52Overview of Triple M • Commissioning to begin in 2023 • Net project investment of ~$300 million • Adds ~$50 million of incremental EBITDA • Capacity of 500k tons, including 150k tons of merchant • To be located in Mesa, AZ Mesa Site Selection • Business friendly jurisdiction • Existing infrastructure • Shared engineering, maintenance, and supervisory staff • Excellent workforce • Epicenter of CMC’s micro mill knowledgebase CMC Investor Day | August 2020 52

Triple M is a “Smart Growth” Initiative Feeds underlying demand for rebar and merchant bar in large West Coast market Meaningful bottom line growth by replacing Steel California with more efficient capacity Monetizes significant value in California real estate, lowering capital requirements and increasing returns CMC Investor Day | August 2020 53Triple M is a “Smart Growth” Initiative Feeds underlying demand for rebar and merchant bar in large West Coast market Meaningful bottom line growth by replacing Steel California with more efficient capacity Monetizes significant value in California real estate, lowering capital requirements and increasing returns CMC Investor Day | August 2020 53

Merchant Bar is a Growth Opportunity • Expansion of MBQ directly supported by optimization of acquired rebar assets, i.e. SIOP, and Triple M project – Strategically adding capacity to the West Coast • Enhancing capabilities at existing mills – Produced 65 new products in South Carolina, expanding product range in Alabama, new climate-controlled warehouse in Texas • Replicate CMC’s winning, best-in-class customer service model 2018 2019 2020 2020 2023 Salesforce Steel South Carolina Steel Texas climate- Steel Alabama product Triple M reorganization to product expansion controlled warehouse line expansion enhance MBQ selling and service capabilities CMC Investor Day | August 2020 54Merchant Bar is a Growth Opportunity • Expansion of MBQ directly supported by optimization of acquired rebar assets, i.e. SIOP, and Triple M project – Strategically adding capacity to the West Coast • Enhancing capabilities at existing mills – Produced 65 new products in South Carolina, expanding product range in Alabama, new climate-controlled warehouse in Texas • Replicate CMC’s winning, best-in-class customer service model 2018 2019 2020 2020 2023 Salesforce Steel South Carolina Steel Texas climate- Steel Alabama product Triple M reorganization to product expansion controlled warehouse line expansion enhance MBQ selling and service capabilities CMC Investor Day | August 2020 54

Array of Organic Initiatives Will Spur Growth • Poland mill project • Continued investments in spooled rebar – Replacing coiled rebar in the marketplace – Potential for long-term market adoption • Fabrication shop automation • Consistent stream of smaller improvements – Mesa, AZ micro mill producing 50% above nameplate capacity CMC Investor Day | August 2020 55Array of Organic Initiatives Will Spur Growth • Poland mill project • Continued investments in spooled rebar – Replacing coiled rebar in the marketplace – Potential for long-term market adoption • Fabrication shop automation • Consistent stream of smaller improvements – Mesa, AZ micro mill producing 50% above nameplate capacity CMC Investor Day | August 2020 55

Sustainability B I L L Y M I L L I G A N CMC Investor Day | August 2020 56Sustainability B I L L Y M I L L I G A N CMC Investor Day | August 2020 56

Environmental Responsible stewardship Social Commitment to Company Culture our people and Sustainability Is Integral Ethics and integrity local communities Good Governance to Our Business Values/guiding principles Governance Safety, customer service and product responsibility CMC Investor Day | August 2020 57Environmental Responsible stewardship Social Commitment to Company Culture our people and Sustainability Is Integral Ethics and integrity local communities Good Governance to Our Business Values/guiding principles Governance Safety, customer service and product responsibility CMC Investor Day | August 2020 57

CMC’s steel has the lowest energy intensity and CMC’s Operations “Tilt Green” scope 1 emissions of any domestic producer Using less energy in our facilities translates Recycling was our First Business, Steel is Infinitely Recyclable into a lower carbon footprint. E N E R G Y I N T E N S I T Y ( G I / T O N ) 20 Mills 3.3 3.3 3.29 3.22 3.13 2014 2015 2016 2017 2018 Industry Average Recycling Fabrication GREENHOU SE GAS EMISSIONS 1.83 (MT CO eq emissions/ton) 2 100% EAF Producer Application 0.148 0.154 0.156 0.152 0.139 2014 2015 2016 2017 2018 Industry Average CMC’s steel has the highest recycled content in the industry CMC Investor Day | August 2020 58CMC’s steel has the lowest energy intensity and CMC’s Operations “Tilt Green” scope 1 emissions of any domestic producer Using less energy in our facilities translates Recycling was our First Business, Steel is Infinitely Recyclable into a lower carbon footprint. E N E R G Y I N T E N S I T Y ( G I / T O N ) 20 Mills 3.3 3.3 3.29 3.22 3.13 2014 2015 2016 2017 2018 Industry Average Recycling Fabrication GREENHOU SE GAS EMISSIONS 1.83 (MT CO eq emissions/ton) 2 100% EAF Producer Application 0.148 0.154 0.156 0.152 0.139 2014 2015 2016 2017 2018 Industry Average CMC’s steel has the highest recycled content in the industry CMC Investor Day | August 2020 58

Good Business Goes Hand-in-Hand With Good Environmental Stewardship Committed to a Best-in-Class, Minimal Carbon Footprint E N V I R O N M E N T A L L Y F R I E N D L Y I N I T I A T I V E S • Triple M replaces an outdated, inefficient mill with state-of-the-art EAF micro mill; will be first steel plant in North America with direct-connect potential to renewable energy sources • Lower transportation carbon emissions as a result of strategic footprint • Renewable energy arrangements • Recycling downstream • Process equipment investments • Plant lighting CMC Investor Day | August 2020 59Good Business Goes Hand-in-Hand With Good Environmental Stewardship Committed to a Best-in-Class, Minimal Carbon Footprint E N V I R O N M E N T A L L Y F R I E N D L Y I N I T I A T I V E S • Triple M replaces an outdated, inefficient mill with state-of-the-art EAF micro mill; will be first steel plant in North America with direct-connect potential to renewable energy sources • Lower transportation carbon emissions as a result of strategic footprint • Renewable energy arrangements • Recycling downstream • Process equipment investments • Plant lighting CMC Investor Day | August 2020 59

We Safeguard Our Most Important Assets: Our People C O M M I T M E N T S T A R T S W I T H P R O A C T I V E S A F E T Y M E A S U R E S • Predict and prevent incidents before they happen • Structure management teams to identify and manage potential risks CMC’s Global Total Recordable Incident Rate CMC’s U.S. Mills’ incidence rate is consistently below the national industry average (TRIR): 2014 - 2019 (as determined by the Bureau of Labor and statistics) 3.5 Our global TRIR in 2018 was the lowest it's been since we began tracking. 2.9 2.4 2.8 2.8 2.7 2.7 2.4 2.4 2.4 2.2 2.2 2.2 Legacy 2.0 2 2 CMC 1.5 1.7 1.6 1.5 1.4 Legacy 1.3 1.2 CMC 1 0.9 2014 2015 2016 2017 2018 2019 2014 2015 2016 2017 2018 2019 CMC U.S. Mills TRIR SMA Industry Average BLS National Average CMC Investor Day | August 2020 60We Safeguard Our Most Important Assets: Our People C O M M I T M E N T S T A R T S W I T H P R O A C T I V E S A F E T Y M E A S U R E S • Predict and prevent incidents before they happen • Structure management teams to identify and manage potential risks CMC’s Global Total Recordable Incident Rate CMC’s U.S. Mills’ incidence rate is consistently below the national industry average (TRIR): 2014 - 2019 (as determined by the Bureau of Labor and statistics) 3.5 Our global TRIR in 2018 was the lowest it's been since we began tracking. 2.9 2.4 2.8 2.8 2.7 2.7 2.4 2.4 2.4 2.2 2.2 2.2 Legacy 2.0 2 2 CMC 1.5 1.7 1.6 1.5 1.4 Legacy 1.3 1.2 CMC 1 0.9 2014 2015 2016 2017 2018 2019 2014 2015 2016 2017 2018 2019 CMC U.S. Mills TRIR SMA Industry Average BLS National Average CMC Investor Day | August 2020 60

We Invest in Our Employees and Communities F O C U S E D O N E N G A G E D E M P L O Y E E S A N D S T R O N G C O M P A N Y C U L T U R E • Expanded leadership development programs • Significant investment in Commercial Excellence training – High Jacobson survey scores direct result of CMC’s commitment to our people CMC Investor Day | August 2020 61We Invest in Our Employees and Communities F O C U S E D O N E N G A G E D E M P L O Y E E S A N D S T R O N G C O M P A N Y C U L T U R E • Expanded leadership development programs • Significant investment in Commercial Excellence training – High Jacobson survey scores direct result of CMC’s commitment to our people CMC Investor Day | August 2020 61

Financial Discussion P A U L L A W R E N C E CMC Investor Day | August 2020 62Financial Discussion P A U L L A W R E N C E CMC Investor Day | August 2020 62

CMC’s Strategic Actions Have Repositioned Our Portfolio… F R O M F Y ‘ 1 8 T O Q 3 F Y ’ 2 0 Exited Marketing and Distribution business Opened second micro-mill, with first rebar spooling line in the United States, in Durant, OK Installed second rebar spooling line in Mesa, AZ Acquired rebar assets (4 steel mills, 33 fabrication facilities) in Nov. 2018, integrated them ahead of schedule CMC Investor Day | August 2020 63CMC’s Strategic Actions Have Repositioned Our Portfolio… F R O M F Y ‘ 1 8 T O Q 3 F Y ’ 2 0 Exited Marketing and Distribution business Opened second micro-mill, with first rebar spooling line in the United States, in Durant, OK Installed second rebar spooling line in Mesa, AZ Acquired rebar assets (4 steel mills, 33 fabrication facilities) in Nov. 2018, integrated them ahead of schedule CMC Investor Day | August 2020 63

… Driving Our Financial Transformation $600 $500 $80 $400 $120 $40 $300 $540 $200 $300 $100 $0 FY 2018 - Through-the-Cycle EBITDA Steel Oklahoma Acquisition Synergies Post-Acquisition - Through-the-Cycle EBITDA … Creating a more sustainable and durable cash generation capability Note: Estimated Adjusted EBITDA levels based on normalized metal margins, EBITDA refers to Adjusted EBITDA from continuing operations CMC Investor Day | August 2020 64 64 $Millions… Driving Our Financial Transformation $600 $500 $80 $400 $120 $40 $300 $540 $200 $300 $100 $0 FY 2018 - Through-the-Cycle EBITDA Steel Oklahoma Acquisition Synergies Post-Acquisition - Through-the-Cycle EBITDA … Creating a more sustainable and durable cash generation capability Note: Estimated Adjusted EBITDA levels based on normalized metal margins, EBITDA refers to Adjusted EBITDA from continuing operations CMC Investor Day | August 2020 64 64 $Millions

We Have Additional EBITDA Potential $700 $15 $650 $20 $50 $600 $50 $550 $500 $675 $450 $400 $540 $350 $300 $250 Post-Acquisition - Through- Network Optimation Triple M Poland Mill Project Identified Organic Projects Long-Term Through-the-Cycle the-Cycle EBITDA EBITDA Note: Estimated Adjusted EBITDA levels based on normalized metal margins, EBITDA refers to Adjusted EBITDA from continuing operations CMC Investor Day | August 2020 65 $ MillionsWe Have Additional EBITDA Potential $700 $15 $650 $20 $50 $600 $50 $550 $500 $675 $450 $400 $540 $350 $300 $250 Post-Acquisition - Through- Network Optimation Triple M Poland Mill Project Identified Organic Projects Long-Term Through-the-Cycle the-Cycle EBITDA EBITDA Note: Estimated Adjusted EBITDA levels based on normalized metal margins, EBITDA refers to Adjusted EBITDA from continuing operations CMC Investor Day | August 2020 65 $ Millions

Leverage Profile CMC has worked to maintain a capital structure that allows for operational flexibility ( 1 ) ( 2 ) ( 1 ) N E T D E B T / E B I T D A N E T D E B T $1,400 4.5x 4.0x $1,200 3.5x $1,000 3.0x $800 2.5x $1,332 2.0x $1,241 3.9x $600 $1,052 3.2x $968 1.5x $935 $400 2.5x $718 1.0x 1.9x 1.6x $200 1.2x 0.5x NM – Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Source: Public filings, Internal data (1) Net Debt is defined as total debt less cash & cash equivalents. (2) EBITDA depicted is adjusted EBITDA from continuing operations. Please see reconciliations in the appendix to this document. CMC Investor Day | August 2020 66Leverage Profile CMC has worked to maintain a capital structure that allows for operational flexibility ( 1 ) ( 2 ) ( 1 ) N E T D E B T / E B I T D A N E T D E B T $1,400 4.5x 4.0x $1,200 3.5x $1,000 3.0x $800 2.5x $1,332 2.0x $1,241 3.9x $600 $1,052 3.2x $968 1.5x $935 $400 2.5x $718 1.0x 1.9x 1.6x $200 1.2x 0.5x NM – Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Q2 2019 Q3 2019 Q4 2019 Q1 2020 Q2 2020 Q3 2020 Source: Public filings, Internal data (1) Net Debt is defined as total debt less cash & cash equivalents. (2) EBITDA depicted is adjusted EBITDA from continuing operations. Please see reconciliations in the appendix to this document. CMC Investor Day | August 2020 66

Balance Sheet Strength Debt maturity profile provides strategic flexibility D E B T M A T U R I T Y S C H E D U L E Q 3 F Y ’ 2 0 L I Q U I D I T Y (US$ in millions) (US$ in millions) $1,066 5.750% 4.875% Notes $462 Cash and Cash Equivalents Notes 5.375% Notes Revolving Credit Facility $350 Revolving Credit Facility 347 $350 $330 $300 Term Loans U.S. Accounts Receivables Facility 165 $110 Poland Accounts Receivables Facility 46 Bank Credit Facilities - Uncommitted 47 2020 2021 2022 2023 2024-2025 2026 2027 Source: Public filings CMC Investor Day | August 2020 67Balance Sheet Strength Debt maturity profile provides strategic flexibility D E B T M A T U R I T Y S C H E D U L E Q 3 F Y ’ 2 0 L I Q U I D I T Y (US$ in millions) (US$ in millions) $1,066 5.750% 4.875% Notes $462 Cash and Cash Equivalents Notes 5.375% Notes Revolving Credit Facility $350 Revolving Credit Facility 347 $350 $330 $300 Term Loans U.S. Accounts Receivables Facility 165 $110 Poland Accounts Receivables Facility 46 Bank Credit Facilities - Uncommitted 47 2020 2021 2022 2023 2024-2025 2026 2027 Source: Public filings CMC Investor Day | August 2020 67

Relationship Between Mills and Fab Promotes Stability Over Time Together, They Dampen Cyclical Impact W H E N S T E E L P R I C E S F A L L W H E N S T E E L P R I C E S R I S E Mill margins Fab margins Mill margins Fab margins compress expand expand compress Mills Fabrication CMC Investor Day | August 2020 68Relationship Between Mills and Fab Promotes Stability Over Time Together, They Dampen Cyclical Impact W H E N S T E E L P R I C E S F A L L W H E N S T E E L P R I C E S R I S E Mill margins Fab margins Mill margins Fab margins compress expand expand compress Mills Fabrication CMC Investor Day | August 2020 68

Integrated Model Helps Minimize T I M E S O F M A R K E T V O L A T I L I T Y 1 12-month change in earnings after mill peak the Cyclical Impact $80 Fabrication effectively locks in a portion of future mill demand at fixed final prices, $60 significantly reducing volatility +$35 $40 F U L L C Y C L E V I E W S E G M E N T A D J U S T E D E B I T D A ( T T M ) $20 1 2 $0 $650 $600 -$20 $550 -$40 $500 -$60 $450 Mills Fabrication Net Change $400 $350 2 12-month change in earnings after mill trough $300 $250 $250 $200 $200 $150 $150 $100 +$86 $100 $50 $50 $0 $0 ($50) ($100) -$50 ($150) -$100 -$150 Mills Fabrication Net Change Americas Mills Americas Fabrication Americas Recycling Total Americas CMC Investor Day | August 2020 69 Millions Millions MillionsIntegrated Model Helps Minimize T I M E S O F M A R K E T V O L A T I L I T Y 1 12-month change in earnings after mill peak the Cyclical Impact $80 Fabrication effectively locks in a portion of future mill demand at fixed final prices, $60 significantly reducing volatility +$35 $40 F U L L C Y C L E V I E W S E G M E N T A D J U S T E D E B I T D A ( T T M ) $20 1 2 $0 $650 $600 -$20 $550 -$40 $500 -$60 $450 Mills Fabrication Net Change $400 $350 2 12-month change in earnings after mill trough $300 $250 $250 $200 $200 $150 $150 $100 +$86 $100 $50 $50 $0 $0 ($50) ($100) -$50 ($150) -$100 -$150 Mills Fabrication Net Change Americas Mills Americas Fabrication Americas Recycling Total Americas CMC Investor Day | August 2020 69 Millions Millions Millions

Common Questions W H A T W E ’ V E H E A R D W H A T W E B E L I E V E ✓ Triple M will replace existing rebar capacity at a lower cost and add MBQ capability to support share growth “Is now the right time to invest in a new steel mill, ✓ Positions us strategically on the West Coast adding additional market capacity?” ✓ ROIC on previous micro mills has been exceptional ✓ Vertical integration supports through-the-cycle earnings, adding significant value “Are Recycling or Fabrication a drag on the strong and stability performance of your Mills?” ✓ Value chain – economics from scrap to mill to fab ✓ Triple M presents a “smart growth” opportunity ✓ Additional opportunity to derive value from the rebar asset acquisition – Network “Has CMC maxed out its earnings potential?” Optimization ✓ Accretive organic growth projects (e.g. Polish mill expansion) CMC Investor Day | August 2020 70Common Questions W H A T W E ’ V E H E A R D W H A T W E B E L I E V E ✓ Triple M will replace existing rebar capacity at a lower cost and add MBQ capability to support share growth “Is now the right time to invest in a new steel mill, ✓ Positions us strategically on the West Coast adding additional market capacity?” ✓ ROIC on previous micro mills has been exceptional ✓ Vertical integration supports through-the-cycle earnings, adding significant value “Are Recycling or Fabrication a drag on the strong and stability performance of your Mills?” ✓ Value chain – economics from scrap to mill to fab ✓ Triple M presents a “smart growth” opportunity ✓ Additional opportunity to derive value from the rebar asset acquisition – Network “Has CMC maxed out its earnings potential?” Optimization ✓ Accretive organic growth projects (e.g. Polish mill expansion) CMC Investor Day | August 2020 70

Capital Allocation Strategy G R O W T H S H A R E H O L D E R R E T U R N S • Triple M and Polish expansion project are • 222 consecutive quarterly dividend; “smart growth” returned $310 million (including buybacks) to shareholders over last 5 years. – Funding, EBITDA, ROIC • Opportunistically execute on in-place • Ongoing cap ex needs of $150M- share buyback program $200M per annum D E B T R E P A Y M E N T • CMC has “dry powder” for future • Target leverage of 2x through-the-cycle acquisitions – Can cost-effectively acquire and improve existing industry capacity – Current net leverage of 1.2x TTM EBITDA, below Metals and Mining sector average of 2.5x – Will flex balance sheet up to 3-4x for right target CMC is an effective steward of shareholder capital, with a healthy balance sheet and opportunities for growth CMC Investor Day | August 2020 71Capital Allocation Strategy G R O W T H S H A R E H O L D E R R E T U R N S • Triple M and Polish expansion project are • 222 consecutive quarterly dividend; “smart growth” returned $310 million (including buybacks) to shareholders over last 5 years. – Funding, EBITDA, ROIC • Opportunistically execute on in-place • Ongoing cap ex needs of $150M- share buyback program $200M per annum D E B T R E P A Y M E N T • CMC has “dry powder” for future • Target leverage of 2x through-the-cycle acquisitions – Can cost-effectively acquire and improve existing industry capacity – Current net leverage of 1.2x TTM EBITDA, below Metals and Mining sector average of 2.5x – Will flex balance sheet up to 3-4x for right target CMC is an effective steward of shareholder capital, with a healthy balance sheet and opportunities for growth CMC Investor Day | August 2020 71

Financial Guidance Framework O V E R T H E C Y C L E , C M C S E E K S T O : • Optimize production between Mills and Fab to maximize company earnings from continuing operations; and • Achieve through-the-cycle (1) ROIC above 10%. I N A D D I T I O N , C M C S E E K S T O : • Keep leverage at approximately 2x through-the-cycle EBITDA, while flexing to ~3x for compelling acquisitions • Opportunistically return capital in excess of reinvestment to shareholders (1) ROIC – Return on Invested Capital is defined as After-tax Operating Profit divided by (Total Assets less Cash & Cash Equivalents less Non-Interest Bearing Liabilities) CMC Investor Day | August 2020 72Financial Guidance Framework O V E R T H E C Y C L E , C M C S E E K S T O : • Optimize production between Mills and Fab to maximize company earnings from continuing operations; and • Achieve through-the-cycle (1) ROIC above 10%. I N A D D I T I O N , C M C S E E K S T O : • Keep leverage at approximately 2x through-the-cycle EBITDA, while flexing to ~3x for compelling acquisitions • Opportunistically return capital in excess of reinvestment to shareholders (1) ROIC – Return on Invested Capital is defined as After-tax Operating Profit divided by (Total Assets less Cash & Cash Equivalents less Non-Interest Bearing Liabilities) CMC Investor Day | August 2020 72

Q&A Session CMC Investor Day | August 2020 74Q&A Session CMC Investor Day | August 2020 74

Closing Remarks BARBARA SMITH CMC Investor Day | August 2020 75Closing Remarks BARBARA SMITH CMC Investor Day | August 2020 75

Appendix CMC Investor Day | August 2020 76Appendix CMC Investor Day | August 2020 76

Net Debt to EBITDA and Adjusted EBITDA Reconciliations 3 MONTHS ENDED 5/31/2018 8/31/2018 11/30/2018 2/28/2019 5/31/2019 8/31/2019 11/30/2019 2/29/2020 5/31/2020 $ in Thousands Long-Term Debt $1,310,150 $1,306,863 $1,227,214 $1,179,443 $1,144,573 $1,153,800 Current Maturities of Long-Term Debt and $88,902 $54,895 $17,439 $13,717 $22,715 $26,274 Short-Term Borrowings $1,399,052 $1,361,758 $1,244,653 $1,193,160 $1,167,288 $1,180,074 Total Debt 66,742 120,315 192,461 224,797 232,442 462,110 Less: Cash and Cash Equivalents $1,332,310 $1,241,443 $1,052,192 $968,363 $934,846 $717,964 Net Debt Earnings from Continuing Operations $42,325 $51,260 $19,420 $14,928 $78,551 $85,879 $82,755 $63,596 $64,169 Interest Expense 11,511 15,655 16,663 18,495 18,513 17,702 16,578 15,888 15,409 Income Taxes 13,312 6,681 5,609 18,141 29,104 16,826 27,332 22,845 23,804 Depreciation and Amortization 32,949 32,610 35,176 41,245 41,181 41,050 40,941 41,389 41,765 Asset Impairments 935 840 0 0 16 369 530 0 5,983 Amortization of Acquired Unfavorable Contract Backlog (11,332) (23,476) (23,394) (16,582) (8,331) (5,997) (4,348) Adjusted EBITDA from Continuing Operations $101,032 $107,047 $65,536 $69,333 $143,971 $145,245 $159,805 $137,721 $146,782 Net Debt 1,332,310 1,241,443 1,052,192 968,363 934,846 717,964 Trailing 12 Months Adjusted EBITDA from 342,948 385,887 424,085 518,354 586,741 589,553 Continuing Operations Net Debt to Trailing 12 Months Adjusted EBITDA from 3.9 x 3.2 x 2.5 x 1.9 x 1.6 x 1.2 x Continuing Operations CMC Investor Day | August 2020 77Net Debt to EBITDA and Adjusted EBITDA Reconciliations 3 MONTHS ENDED 5/31/2018 8/31/2018 11/30/2018 2/28/2019 5/31/2019 8/31/2019 11/30/2019 2/29/2020 5/31/2020 $ in Thousands Long-Term Debt $1,310,150 $1,306,863 $1,227,214 $1,179,443 $1,144,573 $1,153,800 Current Maturities of Long-Term Debt and $88,902 $54,895 $17,439 $13,717 $22,715 $26,274 Short-Term Borrowings $1,399,052 $1,361,758 $1,244,653 $1,193,160 $1,167,288 $1,180,074 Total Debt 66,742 120,315 192,461 224,797 232,442 462,110 Less: Cash and Cash Equivalents $1,332,310 $1,241,443 $1,052,192 $968,363 $934,846 $717,964 Net Debt Earnings from Continuing Operations $42,325 $51,260 $19,420 $14,928 $78,551 $85,879 $82,755 $63,596 $64,169 Interest Expense 11,511 15,655 16,663 18,495 18,513 17,702 16,578 15,888 15,409 Income Taxes 13,312 6,681 5,609 18,141 29,104 16,826 27,332 22,845 23,804 Depreciation and Amortization 32,949 32,610 35,176 41,245 41,181 41,050 40,941 41,389 41,765 Asset Impairments 935 840 0 0 16 369 530 0 5,983 Amortization of Acquired Unfavorable Contract Backlog (11,332) (23,476) (23,394) (16,582) (8,331) (5,997) (4,348) Adjusted EBITDA from Continuing Operations $101,032 $107,047 $65,536 $69,333 $143,971 $145,245 $159,805 $137,721 $146,782 Net Debt 1,332,310 1,241,443 1,052,192 968,363 934,846 717,964 Trailing 12 Months Adjusted EBITDA from 342,948 385,887 424,085 518,354 586,741 589,553 Continuing Operations Net Debt to Trailing 12 Months Adjusted EBITDA from 3.9 x 3.2 x 2.5 x 1.9 x 1.6 x 1.2 x Continuing Operations CMC Investor Day | August 2020 77

Core EBITDA from Continuing Operations Reconciliation 3 MONTHS ENDED 8/31/2019 11/30/2019 2/29/2020 5/31/2020 Earnings from Continuing Operations $85,879 $82,755 $63,596 $64,169 Interest Expense 17,702 16,578 15,888 15,409 Income Taxes 16,826 27,332 22,845 23,804 Depreciation and Amortization 41,050 40,941 41,389 41,765 Asset Impairments 369 530 0 5,983 Non-cash Equity Compensation 7,758 8,269 7,536 6,170 Facility Closure 0 6,339 0 1,863 Acquisition and Integration Related Costs 6,177 0 0 0 Amortization of Acquired Unfavorable Contract Backlog (16,582) (8,331) (5,997) (4,348) Core EBITDA from Continuing Operations $159,180 $174,413 $145,257 $154,815 Trailing 12 Months Core EBITDA from Continuing Operations $633,665 CMC Investor Day | August 2020 78Core EBITDA from Continuing Operations Reconciliation 3 MONTHS ENDED 8/31/2019 11/30/2019 2/29/2020 5/31/2020 Earnings from Continuing Operations $85,879 $82,755 $63,596 $64,169 Interest Expense 17,702 16,578 15,888 15,409 Income Taxes 16,826 27,332 22,845 23,804 Depreciation and Amortization 41,050 40,941 41,389 41,765 Asset Impairments 369 530 0 5,983 Non-cash Equity Compensation 7,758 8,269 7,536 6,170 Facility Closure 0 6,339 0 1,863 Acquisition and Integration Related Costs 6,177 0 0 0 Amortization of Acquired Unfavorable Contract Backlog (16,582) (8,331) (5,997) (4,348) Core EBITDA from Continuing Operations $159,180 $174,413 $145,257 $154,815 Trailing 12 Months Core EBITDA from Continuing Operations $633,665 CMC Investor Day | August 2020 78

Free Cash Flow Reconciliation 3 MONTHS ENDED 8/31/2019 11/30/2019 2/29/2020 5/31/2020 Net cash flows from (used by) operating activities $255,501 $146,418 $106,998 $278,417 Capital expenditures (47,083) (45,559) (51,033) (37,500) Free Cash Flow $208,418 $100,859 $55,965 $240,917 Trailing 12 Months Free Cash Flow $606,159 CMC Investor Day | August 2020 79Free Cash Flow Reconciliation 3 MONTHS ENDED 8/31/2019 11/30/2019 2/29/2020 5/31/2020 Net cash flows from (used by) operating activities $255,501 $146,418 $106,998 $278,417 Capital expenditures (47,083) (45,559) (51,033) (37,500) Free Cash Flow $208,418 $100,859 $55,965 $240,917 Trailing 12 Months Free Cash Flow $606,159 CMC Investor Day | August 2020 79