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2	CMC A Global Steel and Metals Company Metal Recycling Facilities Steel Minimills Steel Fabrication Plants Steel Joist & Deck Plants Heat Treating Plants Steel Fence Post Mfg. Plants Steel Service Centers Construction-Related Product Warehouses Copper Tube Minimill Pipe & Tube Mill Marketing and Distribution Offices Strategic Investments
3	CMC – Business Model Vertical Integration Product Diversification Global Geographic Dispersion
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5	How is CMC Different? 31 Consecutive Years of Profitability Build Markets, then Build Manufacturing/ Processing Operations Vertically Integrated: Scrap Processing and Steel Fabrication are Hedges for the Steel and Copper Tubing Mills Marketing and Distribution – Consistently Profitable People Development
6	Conservative Accounting Fast Depreciation Rates No Significant Post-Retirement Benefits High Correlation Between Hedging Strategy and Underlying Assets No Speculation or Position Taking No Esoteric Financial Instruments Very Cautionary Bad Debt Reserves / Use of Credit Insurance LIFO Inventory Valuation Investment Grade Long-Term Debt and Commercial Paper
7	CMC’s Peer Group Bayou Steel (Arcelor) Gerdau AmeriSteel Mueller Industries Nucor Corporation Oregon Steel Mills, Inc. Quanex Corporation Schnitzer Steel Industries Steel Dynamics Wolverine Tube Inc
8	Financial Objectives Profitability Net Income Return on Beginning Equity 10 - 14% Operating Profit ROA > 16% Leverage Long-Term Debt/Total Capitalization 30 - 40% Coverage EBITDA/Interest > 6x
9	Liquidity $400 MM Commercial Paper Program $200 MM A/R Securitization Agreement Unsecured Bank Credit Lines Weighted Average Long-Term Interest Rate on Public Debt – 6.73%
10	Operating Profit by Segment
11	Consolidated Net Sales
12	Stock Repurchases ($ in Millions)
13	Dividends Per Share
14	Capital Expenditures ($ in Millions)
15	LIFO Reserve
16	United States End-Use Markets
17	Americas Mills Net Sales
18	Americas Mills and Fabrication & Distribution Locations
19	Copper Tube Manufacturing Copper Tube Minimill: Melt Scrap/Cast/Extrude/Draw Located in New Market, Virginia Markets: More than 44 States 80 Million Pound Capacity Water Tubing for Plumbing, Air Conditioning and Refrigeration Value-Added Products – Line Sets
20	Copper Tube Manufacturing Shipments
21	Americas Steel Mill Shipments
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23	CMC Steel Minimills Capacity (Tons 000’s)
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27	CMC Steel Alabama Medium Section Mill Continuous Cost / Productivity/Quality Improvements New Reheat Furnace in 2008 Growth in South Central U.S.A. FY 2008 Tons Melted 676,000 Tons Rolled 430,000 Tons Shipped 647,000
28	CMC Steel Arkansas USA’s Leading Fence Post Provider Modern, Efficient Rail Reroller Posts/Rebar/Bed Angles/Earth Bar Low Cost Producer of Posts Roll Billets Into Niche Products Flats/Angles/Rounds FY 2008 Tons Rolled 147,000 Tons Shipped 142,000
29	CMC Steel South Carolina Growth in Southeast U.S.A. State-of-the-Art, Quick Change, High Productivity Bar Mill FY 2008 Tons Melted 723,000 Tons Rolled 732,000 Tons Shipped 711,000
30	CMC Steel Texas Low Cost Producer Flexible, High Productivity Bar Mill Broad Product Range Rebar, Merchant Bar, and SBQ Strong Customer Base Trucking Fleet Backhauls Scrap Growth in Southwest U.S.A. FY 2008 Tons Melted 997,000 Tons Rolled 792,000 Tons Shipped 1,028,000
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33	Americas Steel Mill Customers
34	Americas Steel Mill Competitors
35	CMC Zawiercie Second Largest Steel Producer in Poland Minimill Capacity 1.1 Million Tons Goal is 70% Domestic and 30% Export Sales Main Products are Rebar, Wire Rod, and Merchants New Wire Rod Block October 2008 Mega Shredder and Fab Shop in 2006 FY 2008 Tons Melted 1,502,000 Tons Rolled 1,100,000 Tons Shipped 1,434,000
36	CMC Sisak Established 1948; Acquired September 2007 Manufactures Seamless, Welded and Cold Processed Pipe 1,250 Employees 330,000 MT Rolling Capacity 187,000 Welded Tubes 77,000 Heavy Walled Seamless Pipe 39,000 Medium Section Seamless Pipe 27,000 Cold Drawn Tubes Melt Shop – 77,000 Blooms Turnaround; Manufacturing at Less Than 20% of Capacity at Acquisition FY 2008 Tons Melted 34,000 Tons Rolled 67,000 Tons Shipped 57,000
37	Americas Mills and Americas Recycling Locations
38	Recycling Tons Capacity (000’s)
39	International Mills and International Fabrication & Distribution Locations
40	International Fabrication & Distribution Strategy Provide Niche Value-Added Physical Operations in Special Situations Marketing and Distribution Emphasized Warehouses in Australia Steel Service Centers in Australia (Processing) Partnering with Suppliers and Customers Pickling and Oiling Steel Coils in Belgium Czech Marketing and Trading Agreement Physical Marketers, Not Screen Traders Consistently Profitable
41	International Fabrication & Distribution Segment Locations Domestic CMC Commonwealth Metals (Fort Lee, NJ) CMC Cometals (Fort Lee, NJ) International Australia China Germany Hong Kong India Poland Russia Singapore Switzerland United Kingdom
42	International Fabrication & Distribution Segment Strategic Investments Trinecke (Czech Republic) Europickling (Belgium)
43	International Fabrication & Distribution Products and Services Aluminum, Brass and Copper Semis Industrial Products for Steel, Refractory, Foundry Industries New Steel, Long and Flat Products Steel and Aluminum Re-Rolling Stock Processing, Heat Treating, Pickle and Oil
44	International Fabrication & Distribution Services Provided
45	International Fabrication & Distribution Synergies Within CMC Sales of Rails / Alloys / Complementary Steel and Copper Finished Goods to Domestic Mills Personnel Seconded to CMCZ Import for Domestic Fab Stock Market Intelligence World Metal Prices – Local World Metal Prices – Import Local Political/Economic Conditions Freight Markets Competitor Moves M&A Opportunities Joint China Strategy
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47	Acquisition Criteria Maintain Investment Grade Rating Return on Capital Criteria Met Accretive to Shareholders Within One Year Within Our Current Scope of Competency Product Line Extension Geographic Expansion End-Use Market Attractive International Assets Can Be Attractive Preference for Non-Union But Not an Absolute Greenfield Option
48	Our Core Competencies We Know How to Treat Our Employees, Customers and Suppliers We Know How to Make Steel We Know How to Fabricate Steel We Know How to Process Scrap We Know How to Market Worldwide Buy Sell Transport Finance We Do it the RIGHT Way!
49	There is More to Come Sustainability Macro Factors Industry Consolidation Has Brought: Financially Stronger Companies with Longer-Term Outlooks Pricing Power Pendulum Swinging Towards Producers Greater Supply Discipline in Response to Demand Changes More Control Over Raw Material Inputs Diversification of Sources of Earnings Power
50	There is More to Come Sustainability Macro Factors Historical Trend Has Developing Economies More Metal Intensive Industrialization is a Continuing Story Economic Development Drives Steel/Metals Consumption Global Infrastructure
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52	There is More to Come Sustainability Commercial Metals’ Factors Diversification Limits Down Cycle Risk Favorable Geography – Capital Assets in Sunbelt Growth Areas and Central European Expansion Corridor Supply Chain Balance – Control Sufficient Scrap Capacity to Meet Mill Demand Which Has Sufficient Capacity to Meet Downstream Value-Added Operations’ Demand Vibrant End-Use Markets – Long Products for Construction, Service Centers, Agriculture, Non-Auto OEM’s
53	There is More to Come Sustainability Commercial Metals’ Factors (Continued) Profit Opportunities Long Cycle – Spot in Recycling, Mid-Range in Mills, Longer Term in Fabricators/Distribution Market Upheavals Create Profit Opportunities for Worldwide Reach of Marketing & Distribution Proven Track Record – 31 Years of Annual Profitability; Only One Quarterly Loss Over That Span
54	Why CMC Outperforms People Markets Sourcing
55	Non-GAAP Financial Measures and Regulation G
56	Forward Looking Statements