Commercial Metals : Q1 Fiscal 2022 Supplemental Presentation

COMMERCIAL METALS COMPANY

Q 1 F Y ' 2 2 S u p p l e m e n t a l S l i d e s

RE

Forward-Looking Statements

This presentation contains "forward-looking statements" within the meaning of the federal securities laws with respect to general economic conditions, key macro-economic drivers that impact our business, the effects of ongoing trade actions, the effects of continued pressure on the liquidity of our customers, potential synergies and organic growth provided by acquisitions and strategic investments, demand for our products, metal margins, the effect of COVID-19 and related governmental and economic responses thereto, the ability to operate our steel mills at full capacity, future availability and cost of supplies of raw materials and energy for our operations, share repurchases, legal proceedings, the undistributed earnings of our non-U.S. subsidiaries, U.S. non-residential construction activity, international trade, capital expenditures, our liquidity and our ability to satisfy future liquidity requirements, the proposed Tensar acquisition and the timing thereof, estimated contractual obligations, the expected capabilities and benefits of new facilities, the timeline for execution of our growth plan, and our expectations or beliefs concerning future events. The statements in this presentation that are not historical statements, are forward-looking statements. These forward-looking statements can generally be identified by phrases such as we or our management "expects," "anticipates," "believes," "estimates," "future," "intends," "may," "plans to," "ought," "could," "will," "should," "likely," "appears," "projects," "forecasts," "outlook" or other similar words or phrases, as well as by discussions of strategy, plans, or intentions.

Our forward-looking statements are based on management's expectations and beliefs as of the date of this presentation. 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. Important factors that could cause actual results to differ materially from our expectations include those described in Part I, Item 1A, Risk Factors, of our annual report on Form 10-K for the fiscal year ended August 31, 2021, as well as the following: changes in economic conditions which affect demand for our products or construction activity generally, and the impact of such changes on the highly cyclical steel industry; rapid and significant changes in the price of metals, potentially impairing our inventory values due to declines in commodity prices or reducing the profitability of our downstream contracts due to rising commodity pricing; impacts from COVID-19 on the economy, demand for our products, global supply chain and on our operations, including the responses of governmental authorities to contain COVID-19 and the impact of various COVID-19 vaccines; excess capacity in our industry, particularly in China, and product availability from competing steel mills and other steel suppliers including import quantities and pricing; compliance with and changes in existing and future laws, regulations and other legal requirements and judicial decisions that govern our business, including increased environmental regulations associated with climate change and greenhouse gas emissions; involvement in various environmental matters that may result in fines, penalties or judgments; evolving remediation technology, changing regulations, possible third-party contributions, the inherent uncertainties of the estimation process and other factors that may impact amounts accrued for environmental liabilities; potential limitations in our or our customers' abilities to access credit and non-compliance of their contractual obligations, including payment obligations; activity in repurchasing shares of our common stock under our repurchase program; financial covenants and restrictions on the operation of our business contained in agreements governing our debt; our ability to successfully identify, consummate and integrate acquisitions, and the effects that acquisitions may have on our financial leverage; risks associated with acquisitions generally, such as the inability to obtain, or delays in obtaining, required approvals under applicable antitrust legislation and other regulatory and third party consents and approvals; operating and startup risks, as well as market risks associated with the commissioning of new projects could prevent us from realizing anticipated benefits and could result in a loss of all or a substantial part of our investments; lower than expected future levels of revenues and higher than expected future costs; failure or inability to implement growth strategies in a timely manner; impact of goodwill impairment charges; impact of long-lived asset impairment charges; currency fluctuations; global factors, such as trade measures, military conflicts and political uncertainties, including changes to current trade regulations, such as Section 232 trade tariffs and quotas, tax legislation and other regulations which might adversely impact our business; availability and pricing of electricity, electrodes and natural gas for mill operations; ability to hire and retain key executives and other employees; competition from other materials or from competitors that have a lower cost structure or access to greater financial resources; information technology interruptions and breaches in security; ability to make necessary capital expenditures; availability and pricing of raw materials and other items over which we exert little influence, including scrap metal, energy and insurance; unexpected equipment failures; losses or limited potential gains due to hedging transactions; litigation claims and settlements, court decisions, regulatory rulings and legal compliance risks; risk of injury or death to employees, customers or other visitors to our operations; and civil unrest, protests and riots.

Q1 FY22 Supplemental Slides │ January 10, 2022 2

A Clear Path to Value Creation

✓ Leading positions in core product and geographical markets	✓	Vertical structure optimizes returns through the entire value chain
✓ Focused strategy that leverages capabilities and competitive strengths	✓ Disciplined capital allocation focused on maximizing returns for our
		shareholders

• Strong balance sheet and cash generation provides flexibility to execute on strategy

Q1 FY22 Supplemental Slides │ January 10, 2022 3

Key Takeaways From Today's Call

• Unprecedented financial performance
• • Achieved record quarterly Adjusted Earnings from Continuing Operations and 3rd consecutive quarterly record Core EBITDA
  • Previous efforts to strategically transform CMC made recent profit levels possible
• Building for the future
• • Pending Tensar acquisition - meaningfully extends CMC's growth runway and creates a unique provider of reinforcement solutions
  • $313 million gross proceeds from Rancho Cucamonga site sale
  • Mill investments - strengthen operational footprint and provide significant internal synergies
• Favorable outlook for FY 2022; business conditions are strong in all major end markets
• • Positioned to maintain operational momentum
• Strong financial position
• • Flexibility to fund growth and provide competitive levels of cash distributions to shareholders

$327 $199

millionmillion

Q1 Core EBITDA(1)	Adjusted Earnings from
	Continuing Operations(1)

$1.62 25%

Q1 Adjusted EPS(1)

Q1 Annualized ROIC(1)

1 Core EBITDA, adjusted earnings from continuing operations, adjusted earnings per share, and return on invested capital are non-GAAP financial measures. For definitions and

reconciliations of non-GAAP financial measures to the most directly comparable GAAP financial measures, see the appendix to this document

Q1 FY22 Supplemental Slides │ January 10, 2022 4

A Clearly Sustainable Future - Proud of Our Progress

With GHG emissions intensity already below the 2040 Paris Climate Agreement industry target, CMC continues to set new lower emissions targets

Content Water Use Energy Use GHG Emissions

CMC Performance	Industry Average	2030 Goals1		Progress on 2030 Goals1
Scope 1	0.197	0.82 MT CO2e / MT	Reduce our Scope 1 and 2 GHG emissions
			6.2%
Scope 1-3	0.698	1.89 MT CO2e / MT	intensity by 20%
		currently
		63% lower than industry average
			Increase our renewable energy usage by
			12% points		7.8%	2.7 %
Energy Intensity	3.710	20.62 GJ / MT
			Reduce our energy consumption intensity	achieved	currently
		82% lower than industry average	by 5%
Water Intake	1.241	28.60 m3 / MT	Reduce our water withdrawal intensity by	7.8%
			8%		currently
		96% lower than industry average
				At CMC, good business always aligns with good
				environmental practices:
Virgin Material	2.0%	69.5% of content		•	Environmental Stewardship
	•	Product Stewardship
		67.5 percentage points lower than industry average	R E S P E C T FOR OUR ENVIRONMENT	• Reducing and managing our environmental impact
[1] Baseline for progress on environmental goals is fiscal year 2021
Sources: CMC 2021 Sustainability Report; scope 1 emissions based on direct emissions reported to the U.S. Environmental Protection Agency; virgin material		Q1 FY22 Supplemental Slides │	January 10, 2022 5
content for industry based on data from Bureau of International Recycling; all other industry data sourced from the World Steel Association