BlueScope Buildings North America Investor Visit Presentation

28 April 2014

Dan Kumm, President

BlueScope Steel Limited. ASX Code: BSL

2

Important NoticeTHIS PRESENTATION IS NOT AND DOES NOT FORM PART OF ANY OFFER, INVITATION ORRECOMMENDATION IN RESPECT OF SECURITIES. ANY DECISION TO BUY OR SELL BLUESCOPESTEEL LIMITED SECURITIES OR OTHER PRODUCTS SHOULD BE MADE ONLY AFTER SEEKINGAPPROPRIATE FINANCIAL ADVICE. RELIANCE SHOULD NOT BE PLACED ON INFORMATION OROPINIONS CONTAINED IN THIS PRESENTATION AND, SUBJECT ONLY TO ANY LEGAL OBLIGATION TODO SO, BLUESCOPE STEEL DOES NOT ACCEPT ANY OBLIGATION TO CORRECT OR UPDATE THEM.THIS PRESENTATION DOES NOT TAKE INTO CONSIDERATION THE INVESTMENT OBJECTIVES,FINANCIAL SITUATION OR PARTICULAR NEEDS OF ANY PARTICULAR INVESTOR.

THIS PRESENTATION CONTAINS CERTAIN FORWARD-LOOKING STATEMENTS, WHICH CAN BEIDENTIFIED BY THE USE OF FORWARD-LOOKING TERMINOLOGY SUCH AS “MAY”, “WILL”, “SHOULD”,“EXPECT”, “INTEND”, “ANTICIPATE”, “ESTIMATE”, “CONTINUE”, “ASSUME” OR “FORECAST” OR THENEGATIVE THEREOF OR COMPARABLE TERMINOLOGY. THESE FORWARD-LOOKING STATEMENTSINVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS WHICH MAYCAUSE OUR ACTUAL RESULTS, PERFORMANCE AND ACHIEVEMENTS, OR INDUSTRY RESULTS, TOBE MATERIALLY DIFFERENT FROM ANY FUTURE RESULTS, PERFORMANCES OR ACHIEVEMENTS,OR INDUSTRY RESULTS, EXPRESSED OR IMPLIED BY SUCH FORWARD-LOOKING STATEMENTS.

TO THE FULLEST EXTENT PERMITTED BY LAW, BLUESCOPE STEEL AND ITS AFFILIATES AND THEIRRESPECTIVE OFFICERS, DIRECTORS, EMPLOYEES AND AGENTS, ACCEPT NO RESPONSIBILITY FORANY INFORMATION PROVIDED IN THIS PRESENTATION, INCLUDING ANY FORWARD LOOKINGINFORMATION, AND DISCLAIM ANY LIABILITY WHATSOEVER (INCLUDING FOR NEGLIGENCE) FORANY LOSS HOWSOEVER ARISING FROM ANY USE OF THIS PRESENTATION OR RELIANCE ONANYTHING CONTAINED IN OR OMITTED FROM IT OR OTHERWISE ARISING IN CONNECTION WITHTHIS.

INTRODUCTION

US Navy Hangar- Jacksonville, FLBlueScope Construction

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Lost

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Lost time injury frequency rate

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Medically treated injury frequency rate

Progress towards our goal of Zero Harm

0

0.2

0.4

0.6

0.8

1

1.2

1.4

1.6

1.8

2

2008 2009 2010 2011 2012 20130

2

4

6

8

10

12

14

16

18

2008 2009 2010 2011 2012 2013

5

External segment reporting structure 1

Building Components & Distribution Australia

Global Building Solutions

Building Products ASEAN, North

America and IndiaNew Zealand and

Pacific SteelProducts

Hot Rolled Products North America

• Leading global designer and manufacturer of EBS2

• Key markets in China & Nth America; plants in ASEAN, India, Middle East

• Supplying buildings to global customers

• China coating & painting

• Operates metallic coating and painting lines and roll-forming in Indonesia, Malaysia, Thailand, Vietnam, India and North America

• Includes NS BlueScope Coated Products JV

• Largest supplier and only manufacturer of HRC, plate, metal coated and painted steel in Australia

• Australian finished-product capacity of ~2.5Mtpa; domestic market 1.9Mtpa in 1H FY2014

• 2.0Mtpa mini-mill in Ohio

• 50/50 JV with Cargill Inc.

• Voted no. 1 flat rolled steel supplier in North America (Jacobson Survey) for 12 consecutive years

• Major steel product supplier / distributor to the Australian building and construction, automotive, white goods manufacturing and general manufacturing industries

• Only fully integrated flat steel maker in New Zealand

• Leading domestic market share of flat products

• Includes iron sands mines (own consumption and export sales)

(1) BlueScope also has a Corporate segment which is not shown(2) Engineered building solutions

Coated & IndustrialProducts Australia

BlueScope Australia & New Zealand

BlueScope Buildings North America is part of BlueScope’s Global Building Solutions segment

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Global Building Solutions segment has been established to unite BlueScope’s Building Solutions businesses and accelerate growth

BuildingsASEAN

Engineered Building Solutions and ASEAN

Stewart Dellar – President

Buildings North America

Engineered Building Solutions in North America

Dan Kumm – President

Solutions Australia

Engineered Building Solutions, Ranbuild and Water solutions in Australia

Craig Smith – GM

Global Accounts

Engineered Building Solutions to key multinational accounts and oversight of JVs (SBS, TBSL)Pat Finan – President

Product &Buildings ChinaEngineered buildings, coated steel and building components (Lysaght) in China

Bernie Landy – President

Global Building Solutions

Sales A$1.5BnOver 5,000 employees across 12 countries

24 manufacturing facilities116 years combined experience with BlueScope Leadership

141 years combined experience working in steel and construction sector

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A broad portfolio of leading Building Solution brands / products

Buildings ASEAN

Buildings NorthAmerica

Solutions Australia

Global Accounts

Product & Buildings China

Saudi Building Systems

BUSINESS OVERVIEW

Costco – Melbourne, Australia

9

BlueScope Buildings North America overview

• BBNA designs/manufactures/markets Engineered Building Solutions (EBS) to the low-rise non-residential construction segment

• Comprised of the leading pre-engineered building brands and best known builder distribution networks

• BBNA has 26% market share in North America• Brief history:

1901

Butler Founded

Butler 1st to introduce 3-plate Rigid frame

VP Buildings Commenced Business

20141939

1948

BSL Buys Butler

2004 2009

2012

GFC Impact

BSL Acquires VP

GBS Formed

2008

1963

VP introduces “custom concept”

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So what is an engineered building solution (EBS)?

Engineered Building Solution Conventional steel building

Key benefits to engineered building solutions are: Reduced steel usage on targeted end use buildings Integration: One trade performing structure, roof, and walls vs. three Rapid construction time Superior lifecycle costs of metal roof systems Reduced dependency on certified welders in field Well suited for emerging design-build trend in construction industry

• Fit-for-purpose structural system leveraging tapered frame concept

• Design each structural member to meet unique load requirements

• Performs well with large clear-span requirements and low-riseconstruction

• Frequently integrates roof and/or wall system as a total solution

• Conventional design using standard hot rolled sections

• Standard structural members selected from known criteria

• Performs well with low and high-rise solutions with moderate to low spans required

• Scope typically stops with structure and deck

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• Mission: To grow our industry leading position as a solution provider for the non-residential low-rise building market. Delivering our products and services primarily through multiple brand, closed distribution network of Builders with a focus on differentiation and growth initiatives through the rollout of new products, new services, and superior quality

• BBNA does not define ourselves as a metal building supplier. We are a solution provider proficient in both metal buildings and conventional steel. In fact, we provide hybrid solutions that leverage the best of both worlds

Mission / vision of BBNA

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Both Butler and VP give BBNA a unique history of being a market leader

1st to use computer designed rigid frame structure1st to utilise prepunched structurals and panels1st to utilise fiberglass blanket insulation between panel & structural1st to offer ‘Z’ shaped purlins1st to offer “Custom Engineered” building vs. “Pre-Engineered”1st to market through network of local contractors1st to offer low-slope pre-engineered buildings1st to offer a pre-engineered standing seam roof system1st to initiate formation of MBMA (Metal Building Manufacturer’s Association)1st to introduce Skyweb fall protection system1st to offer G30 Acrylic as standard1st to offer self-curbing day lighting system

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BBNA supply chain / channel to market

BSL /Nippon

North Star

Gerdau

Nucor

SDI

WII

Steel-scape

ServiceCenters

BBNAShared Services

Platform

ManufacturingPurchasing

Innovation / R&DEngineering System

Warranty AdminQuality Control

Human ResourcesFinance / Tax

PayrollIT

Butler

VP

BSC

ButlerBuilders

VPBuilders

EndCustomer

Market FacingNon-market Facing

Brand Specific FocusLeverage Economy of Scale

Up-stream Mid-stream Down-stream

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Nearly 2,000 Butler and VP builders across North America

24%

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BlueScope Construction history

• Established in 1970

• In-house construction capability

• Account for 14% of BBNA Revenue

• National footprint – licensed in all 50 states

• Capabilities include: program accounts, government, & large/complex jobs

• Strategic purpose is to capture all work that doesn’t fit our existing builders’ capability

Manufacturing PlantsManufacturing Plants Data CentersData Centers

Distribution Centers & Shipping HubsDistribution Centers & Shipping Hubs

Aircraft HangarsAircraft Hangars

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BlueScope Construction has a long history of conquering challenges of key corporate accountsFedEx GroundOver 100 projects since 1995

Air National GuardOperation Noble Eagle 30 Hangars in 30 Days at 10 Locations

In response to September 11 terrorist attacks

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BBNA management team

Dan KummPresident,

BlueScope Buildings NA

Dave ShawEngineering Excellence

Barb BridgerVP Human Resources

Chuck HaslebacherPresident,

Varco Pruden

Doug LangeVP Finance

Tom GilliganPresident,

Butler Manufacturing

Morrie AndersonVP Operations

Matt ThreadgillPresident,

BSC

Ron MillerVP Innovation

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New integrated manufacturing platform

Visalia

Monterrey (Mexico)

Evansville

St Joseph

Annville

Jackson

Laurinburg

Rainsville

Manufacturing facility Total Capacity: approx. 320 metric kt

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World-class facilities: Evansville, WI

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World-class facilities: Visalia, CA

U.S. ENGINEERED BUILDINGS MARKET

Stafford Hills Club –Tualatin, ORSM Andersen Company, Inc

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Customer base industry segmentation

24%

Note: Based on CY2013 shipments

23G2 Commercial Construction, Inc.– Kennewick, WA

G2 Construction

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Summit Aviation – Middletown, DEEDiS Company

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Triple S Harley Davidson – Westover, WVMarch Westin Company, Inc.

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BBNA has two primary competitors in the metal buildings sector, but also looks to expand into conventional markets

MBMACompany Brands

# of Plants

BBNA Butler, VP 8

Nucor Nucor, American, Gulf States, Kirby, CBC

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NCI Robertson, Star, CECO, Garco,Metallic, Mid-West, A&S, Mesco, IPS, SB.com

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Two major competitors in the metal buildings market, NCI & Nucor, as well as several much smaller companies

Conventional Steel Services group in full swing to capture work outside of the typical MBMA market

13%

MBMA is 13% of Total Buildings Market

$16.5b*

*FY13 Total Non-Res (0-2 stories) construction spend was $110B. Assuming 15% is building material = $16.5b

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North America PEB market indicators

FY2013actual

FY2014forecast

FY2015forecast

FY2016 forecast

Construction growth 5.1% 14.8% 9.3% 18.4%

303540455055606570

Jan-

07

Jul-0

7

Jan-

08

Jul-0

8

Jan-

09

Jul-0

9

Jan-

10

Jul-1

0

Jan-

11

Jul-1

1

Jan-

12

Jul-1

2

Jan-

13

Jul-1

3

Jan-

14

0

500

1,000

1,500

2,000

2,500

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 Q4

2006 2007 2008 2009 2010 2011 2012 2013

Thousands of units

Total Housing Single-Family Multi-Family

Source: FW Dodge, Q1 CY2014 data release

Expansion

Contraction

0

200,000

400,000

600,000

800,000

1,000,000

1,200,000

1,400,000

FY11 FY12 FY13 FY14 FY15 FY16

Sq. F

t. (T

hous

ands

)

FW Dodge forecast of U.S. non-residential construction Architectural Billings Index

U.S. housing commencements

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Trading conditions

• Began 2H FY2014 with backlog 10% greater than at beginning of 2H FY2013

• January through March 2014 activity level impacted by particularly difficult winter season

• Current backlog is 20-30% greater than same time last year

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Growth initiatives

Ease of doing

business

Unique value

offeringReputation Competitive

Selling Capability Service Products

OperationsCapability

DayLightSavings

IECC Compliance

Energy Usage

Life Cycle / Durability

Leveraging our unique Builder Networks

Increasing addressable market, such as conventional and Latin America initiatives

Innovating with vision toward mega-trends, such as energy conservation

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BBNA volume (metric kt)

289

211197186173

264

122

FY08

390

101

FY14FY13FY12FY11FY10FY09

Varco Prudenacquisition

(Tonnes not reported in BlueScope due to acquisition timing)

GFC impactResults through

1H

INNOVATION AND GROWTH

TRUSS PURLINXT Pilot JobOklahoma City, Oklahoma

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Grandview Research Center overview

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• Regulatory & Compliance Testing

• New product development

• 60 worldwide patents

• Raw material testing & quality assurance

• Led by industry experts

Advanced thermal testing capability creates a competitive advantage for customers:

• More cost effective & energy efficient roof and wall assemblies than code prescribed methods

• Certified by the International Accreditation Service (IAS)

• More than 80 assemblies tested

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Our competitive advantages

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TRUSS PURLINXT Product Features

• Lighter and more efficient than bar joists

• Significant load/span capability

• Less field labor to install than bar joists

• Superior appearance / finish = no field paint

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Our competitive advantages

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Daylighting

• Reduces electrical consumption / costs up to 70%

• Sold over 11k units in 2 years

• Less labor in field compared to curbed units

Before After

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Technology – the Vision Engineering System is leveraged throughout the product workflow and order cycle

• Sales Tool

– Fast BIM (Building Information Model) modelling

– Power in the hands of our Builders

• Quoting Tool

– Integrated with auto-design engine

• Automated Design Tool

– Delivers efficient, consistent design

– Auto application of snow loads, multiple codes, etc.

• Automated Detailing Tool

– Saves significant engineering hours

• Integration Tool – Supply Chain & Shop Floor

– Leverages economies of scale for product purchases

– Aligns design solution with manufacturing capabilities

INTRODUCTION TOST JOSEPH PLANT

TRUSS PURLINXT fixture – St. Joseph, MO

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St Joseph plant overview

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• Opened in 1981

• 194 manufacturing employees

• Over 138k sq. ft. of manufacturing space

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St Joseph facility

Example of expanding our addressable market by entering the conventional steel space

Example of expanding our addressable market and market share through industry-leading innovation

QUESTIONS?

Sanford Health Fieldhouse – Sioux Falls, SDButler Builder: Fiegen Construction Company

BlueScope Buildings North America –Investor Visit Presentation

28 April 2014

Dan Kumm, President

BlueScope Steel Limited. ASX Code: BSL