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2	CMC A Global Steel and Metals Company 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 Metal Recycling Facilities 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? 30 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 Corporation 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 $200 MM A/R Securitization Agreement Unsecured Bank Credit Lines Revolvers Have Never Been Called On Weighted Average Long-Term Interest Rate on Public Debt – 6.29%
10	Operating Profit by Segment
11	Consolidated Net Sales
12	Stock Repurchases ($ in Millions)
13	Dividends Per Share
14	Capital Expenditures ($ in Millions)
15	LIFO Reserve
16	Domestic Mills Net Sales
17	Domestic Minimill and Fabrication Locations
18	Copper Tube Manufacturing Copper Tube Minimill: Melt Scrap/Cast/Extrude/Draw Located in New Market, Virginia Markets: More than 30 States 80 Million Pound Capacity Water Tubing for Plumbing, Air Conditioning and Refrigeration Value-Added Products – Line Sets
19	Copper Tube Manufacturing Shipments
20	Domestic Steel Mill Shipments
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22	Steel Minimills Capacity (Tons 000’s)
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26	CMC Steel Alabama Medium Section Mill Routine Efficient DC Furnace Operation Continuous Cost / Productivity/Quality Improvements Growth in South Central U.S.A. FY 2007 Tons Melted 614,000 Tons Rolled 669,000 Tons Shipped 654,000
27	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 2007 Tons Shipped – 130,000
28	CMC Steel South Carolina Growth in Southeast U.S.A. State-of-the-Art, Quick Change, High Productivity Bar Mill FY 2007 Tons Melted 649,000 Tons Rolled 669,000 Tons Shipped 654,000
29	CMC Steel Texas Low Cost Producer Flexible, High Productivity Bar Mill Broad Product Range Rebar, Merchant Bar, and SBQ New Caster Fiscal 2006 Strong Customer Base Trucking Fleet Backhauls Scrap Growth in Southwest U.S.A. FY 2007 Tons Melted 859,000 Tons Rolled 730,000 Tons Shipped 869,000
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32	Domestic Steel Mill Customers
33	Domestic Steel Mill Competitors
34	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 Mega Shredder and Fab Shop in 2006 FY 2007 Tons Melted 1,458,000 Tons Rolled 1,130,000 Tons Shipped 1,366,000
35	CMC Sisak Established 1948; Acquired September 2007 Manufactures Seamless, Welded and Cold Processed Pipe 1,400 Employees 300,000 MT Rolling Capacity 170,000 Welded Tubes 70,000 Heavy Walled Seamless Pipe 35,000 Medium Section Seamless Pipe 25,000 Cold Drawn Tubes Melt Shop – 70,000 Blooms Turnaround; Manufacturing at Less Than 20% of Capacity at Acquisition
36	Fabrication Shops
37	Fabrication Shops
38	Significant Other Fabrication Operations
39	Significant Other Fabrication Operations
40	Domestic Minimill and Scrap Processing Locations
41	Recycling Tons Capability (000’s)
42	Polish & Croatian Steel Minimills and Marketing and Distribution Locations
43	Marketing and 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
44	Marketing and Distribution Segment Locations Domestic CMC Commonwealth Metals (Fort Lee, NJ) CMC Cometals (Fort Lee, NJ) CMC Dallas Trading (Irving, TX) International Australia China Germany Hong Kong India Russia Singapore Switzerland United Kingdom
45	Marketing and Distribution Segment Strategic Investments Trinecke (Czech Republic) Europickling (Belgium)
46	Marketing and 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
47	Marketing and Distribution Services Provided
48	Marketing and 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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50	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
51	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!
52	Opportunities Downstream Value-Added Operations Rebar Fabricating Joist Manufacturing Heat Treating Expansion of Construction-Related Products Small Structural Fabrication Steel Mills Geography Must Work (Underserved Markets) Synergies with Current Operations Offer an Expanded Product Line
53	Opportunities Copper/Brass Mill Position to Complement CMC Howell Metal Recycling Regional Strengthening (e.g., Yonack) International Early Stage Asia Expansion More Physical Operations in Central Europe and Australia Complement CMCZ
54	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
55	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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57	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
58	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 – 30 Years of Annual Profitability; Only One Quarterly Loss Over That Span
59	Why CMC Outperforms People Markets Sourcing
60	Non-GAAP Financial Measures and Regulation G
61	Forward Looking Statements