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CMC
                                                                                                  A Global Steel and Metals Company
                                                                                                       Over 14,000 Employees Worldwide in 14 Different Countries

                                                                                                                                      Steel Minimills
                                                                                                                                      Steel Fabrication Plants
                                                                                            CMC Manufactures,                         Steel Joist & Deck Plants
                                                                                            Recycles, Markets                         Heat Treating Plants
                                                                                            and Distributes Steel                     Steel Fence Post Mfg. Plants
                                                                                            and Metal Products and
                                                                                                                                      Steel Service Centers
                                                                                            Related Materials and
                                                                                                                                      Construction-Related Product
                                                                                            Services Through a
                                                                                                                                      Warehouses
                                                                                            Network of Over 200
                                                                                                                                      Copper Tube Minimill
                                                                                            Locations Worldwide
                                                                                                                                      Metal Recycling Facilities
                                                                                                                                      Pipe & Tube Mill
                                                                                                                                      Marketing and Distribution Offices
                            6565 N. MacArthur Blvd. Suite 800 Irving, TX 75039
                                                                                                                                      Strategic Investments
                                   Tel 214. 689.4300 Fax 214. 689.5886
                                              www.cmc.com
                                                                                                                                                                                          2
                                                                                     CMC Overview March 2008




                                                                                                                                                                          Effective 9/1/2007


                          CMC – Business Model


                                                                                       • Locations Throughout the Sunbelt
                                                                                                                                        • Poland -- Main Products are
                                                                                       • Significant Regional Processor
                                                     Vertical Integration                                                                 Rebar & Wire Rod; Mega Shredder
                                                                                         of Ferrous and Nonferrous
                                                                                                                                          on Site; Captive Scrap Branches
                                                                                       • Strategic Mill Support
                                                     Product Diversification                                                            • Croatia Tubular Products

                                                     Global Geographic Dispersion
                                                                                       • Domestic Steel Minimills                       • Offices in 13 Countries
                                                                                           (Long Products)
                                                                                                                                        • Physical Operations and Strategic Investments
                                                                                       • Copper Tube Minimill
                                                                                                                                               ―11% Investment in Czech Mill
                                                                                                                                               ―Australian Service Centers
                                                                                                                                               ―Belgian Pickling & Oiling 24%
                                                                                                                                               Joint Venture
                                                                                       • Downstream Operations: Rebar and
                                                                                                                                        • Consultants/Agents in 20 Countries
                                                                                        Structural Fab, Joist, Deck, CRP,
                                                                                                                                        • Rebar Fab; 2 Locations; More Underway
                                                                                        Domestic Steel Import, Fence Posts,
                                                                                 3      Heat Treating, Other
CMC Overview March 2008
How is CMC Different?                                                       Conservative Accounting
                          Conservative Company with a Strong,                                               Fast Depreciation Rates
                            Experienced Management Team                                                     No Significant Post-Retirement Benefits
                                                                                                            High Correlation Between Hedging Strategy and
                                                                                                            Underlying Assets
                  30 Consecutive Years of Profitability
                  Build Markets, then Build Manufacturing/                                                  No Speculation or Position Taking
                  Processing Operations
                                                                                                            No Esoteric Financial Instruments
                  Vertically Integrated: Scrap Processing and Steel
                                                                                                            Very Cautionary Bad Debt Reserves / Use of
                  Fabrication are Hedges for the Steel and Copper Tubing
                  Mills                                                                                     Credit Insurance
                  Marketing and Distribution – Consistently Profitable                                      LIFO Inventory Valuation
                  People Development                                                                        Investment Grade Long-Term Debt and
                                                                                                            Commercial Paper

                                                                             5                                                                                  6
CMC Overview March 2008                                                          CMC Overview March 2008




                                                                                                              Financial Objectives
                             CMC’s Peer Group
                                                                                                  Profitability
       Peer Companies                     Plus Private & International Players
                                                                                                           » Net Income Return on Beginning Equity   10 - 14%
           Bayou Steel Corporation          Corus
                                                                                                           » Operating Profit ROA                      > 16%
           Gerdau AmeriSteel                David J. Joseph (Nucor)
                                                                                                  Leverage
           Mueller Industries               Duferco
           Nucor Corporation                Glencore                                                       » Long-Term Debt/Total Capitalization     30 - 40%
           Oregon Steel Mills, Inc.         Mittal
                                                                                                  Coverage
           Quanex Corporation               Omnisource (Steel Dynamics)
           Schnitzer Steel Industries       Sims (Metal Management)                                        » EBITDA/Interest                             > 6x
           Steel Dynamics                   Stemcor
           Wolverine Tube Inc



                                                                             7                                                                                  8
CMC Overview March 2008                                                          CMC Overview March 2008
Liquidity                                             Operating Profit by Segment
                                                                                                                                                                FY 2007
                                                                                                                            FY 2006
                                                                                      FY 2005
                          $400 MM Commercial Paper Program
                          $200 MM A/R Securitization Agreement
                                                                                                                                                                14% 13%
                                                                                                                         16% 11%
                                                                                               18%
                                                                                 14%
                          Unsecured Bank Credit Lines
                                                                                                                                                      14%
                                                                                                                   15%
                          Revolvers Have Never Been Called On
                                                                               24%                                                                                       42%
                          Weighted Average Long-Term Interest                                    44%                                49%                    17%
                                                                                                                       9%
                          Rate on Public Debt – 6.29%



                                                                                       Domestic                             Domestic                               Marketing &
                                                                                                           CMCZ                                Recycling
                                                                                       Mills                                Fabrication                            Distribution

                                                                      9                                                                                                           10
CMC Overview March 2008                                                    CMC Overview March 2008




                                                                                                          Stock Repurchases
                          Consolidated Net Sales
                                                                                                                       ($ in Millions)
                                     ($ in Billions)
                                                                                      $100
                                                                                                                                                                  79
                                                                                                                                                           77
                   $10
                                                                8.3                     $80
                    $9
                                                                                                                                                                        59
                                                        7.2
                    $8
                                                                                        $60
                                              6.3
                    $7                                                                                            42
                    $6               4.6                                                $40
                    $5
                                                                                                                                          15
                                                                                                     15
                    $4        2.7                                                       $20                              7
                                                                                                           7                                     5
                    $3
                    $2                                                                    $0
                                                                                               1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
                    $1
                    $0
                            2003    2004   2005     2006      2007
                                                                      11                                                                                                          12
CMC Overview March 2008                                                    CMC Overview March 2008
Capital Expenditures
                               Dividends Per Share
                                                                                                                                                          ($ in Millions)


                                                                                                                              $250
                  $0.40
                                                                                                                                                                                      206
                                                                                           0.33
                  $0.35
                                                                                                                              $200
                  $0.30
                                                                                                                                                                             131
                  $0.25
                                                                                                                              $150
                                                                               0.171                                                                            110
                  $0.20
                                                                     0.115                                                    $100
                  $0.15
                                                                                                                                           63
                                                         0.085
                                              0.08
                                 0.07                                                                                                                52
                  $0.10
                                                                                                                                $50
                  $0.05

                  $0.00
                                                                                                                                  $0
                                2002      2003           2004        2005     2006        2007
                                                                                                                                          2003     2004        2005        2006     2007
                                                                                                                                                   Note: Excludes Acquisitions
                                                                                                           13                                                                               14
CMC Overview March 2008                                                                                         CMC Overview March 2008




                                        LIFO Reserve
                                                                                                                                       Domestic Mills Net Sales
                                               ($ in Millions)
                                                                                                                                                     ($ in Billions)
                                                                                                     241
           250

                                                                                             189                                  $2.0
           200                                                                                                                                                              1.6     1.6
                                                                                                                                  $1.6
                                                                                                                                                                  1.3
           150
                                                                                                                                                     1.1
                                                                                     111
                                                                                                                                  $1.2
                                                                              92                                                             0.8
           100
                                                                                                                                  $0.8

             50           22                                                                                                      $0.4
                                                                       17
                                                                8
                                          8          6
                                  3
                                                                                                                                  $0.0
              0
                                                                                                                                            2003    2004       2005       2006     2007
                  1998         1999    2000    2001       2002      2003    2004   2005    2006    2007
                                                     At August 31                                          15                                                                               16
CMC Overview March 2008                                                                                         CMC Overview March 2008
Domestic Minimill and Fabrication Locations
                                                                                                 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
       Steel Manufacturing
                                                                                                Refrigeration
       Steel Fabrication
       Steel Joist & Deck Plants
                                                                                                Value-Added Products – Line Sets
       Heat Treating
       Copper Tube Manufacturing
       Fence Post Manufacturing
       Construction-Related Products Warehousing
       Castellated & Cellular Beam Fabrication
                                                                                                                                                                                            18
                                                                                CMC Overview March 2008




                                                                                           Domestic Steel Mill Shipments
   Copper Tube Manufacturing Shipments
                                                                                                                                (Tons 000’s)
                                (in Millions of Pounds)
                                                                                                          CMC-TX           CMC-AL              CMC-AR          CMC-SC
                                                                                        2,800                                                                              2,492
                     100                                                                                                                                  2,401
                                                                                        2,600                                                     2,284           2,266             2,250
                                                                                                                                          2,171
                                                                                        2,400
                                         68.4                                                      2,008
                      80                                    65.7
                                                    66.6                                2,200
                                61.9                                                                                            1,903
                                                                                                                      1,853
                                                                                        2,000               1,685
                                                                    52.5
                      60                                                                1,800
                                                                                        1,600
                                                                                        1,400
                      40                                                                1,200
                                                                                        1,000
                      20                                                                  800
                                                                                          600
                                                                                          400
                          0
                                                                                          200
                              2003     2004        2005    2006    2007
                                                                                            0
                                                                                                 1998     1999      2000      2001      2002   2003     2004   2005       2006     2007

                                                                           19                                                                                                               20
CMC Overview March 2008                                                         CMC Overview March 2008
Steel Minimills
   Domestic Steel Mill Shipments by Region
                Fiscal 2007                                                                                                              Capacity (Tons 000’s)
                                                                                                                                                                   Melting       Rolling
                                                                                                     CMC Steel Alabama: Birmingham, AL                                   650              575
                                                                                                          (mid-size structural products)

                                                                                     18%             CMC Steel Arkansas: Magnolia, AR                                      0              150
                                                                                                          (posts, rebar, flats, angles, squares)

                                                                                                     CMC Steel South Carolina: Cayce, SC                                 700              800
                                                                                                          (full line bar size products)

                                                                                                     CMC Steel Texas: Seguin, TX                                         900              900
                                                                              34%                         (full line bar size products)

                                                                                                     CMC Zawiercie: Zawiercie, Poland                                1,500           1,100
                                                                                                          (rebar and wire rod)
                                48%                                                                                                                     Total        3,750           3,525
                                                                                           21                                                                                                         22
CMC Overview March 2008                                                                         CMC Overview March 2008




                                                                                                              Domestic Steel Mill Facilities
              Domestic Steel Mill Facilities
                                                                                                            CMC Steel South Carolina                              CMC Steel Texas
                 CMC Steel Alabama                          CMC Steel Arkansas
                                                                                                                                   22”                                              24”
                                28”
                                                                                                                                              Melt
                                                                                                                             84NT                                          120 NT
                                                                                                              80 MVA                        Capacity:           80 MVA                      Melt




                                                                                                  MELT
                          90 NT
              72 MVA                                                                                                        AC Fce                                         AC Fce
                                                                                                               Xfrmr
                                           Melt
  MELT




                                                                                                                                                                 Xfrmr                    Capacity:
                          DC Fce
               Xfrmr                                                                                                                        100 tph
                                         Capacity:
                                                                                                                                                                                           130 tph
                                              90 tph
                                                                                                           21.5 MVA                                         25 MVA
              21 MVA                                                                                         Xfrmr        LMS                                Xfrmr        LMS
               Xfrmr                                                                                                             Ind Stir
                          LMS                                                                                                                                                   Ind Stir
                                   Ind Stir
                                                                                                                                                   17 stand in-line continuous
                                                                                                         17 stand in-line continuous
         14 stand in-line continuous                   Rail slitting & re-rolling;                                                                 mill (7 stand cantilever
                                                                                                          mill (all conventional)
         mill with quick change                        billet rolling                                                                              rougher) with quick change
                                                                                                  MILL



         capability on 9 stands                                                                           with quick change on all 17 stands
                                                       12 stand in-line mill                                                                       capability
  MILL




                                                       (12 passes continuous;
         100 tph reheat furnace capacity                                                                 160 tph capacity; 3,300 fpm finishing and 150 tph reheat furnace capacity
                                                        14 passes using 3 hi)                            In-line straightening/stacking/bundling
         In-line straightening & stacking                                                                                                          3,000 fpm finishing speed
                                                       40 tph reheat furnace                             Profile gauge                             In-line bundling
                                                       In-line bundling
                                                                                                                                                   Profile gauge
                                                       2000 fpm finishing speed

                                                                                           23                                                                                                         24
CMC Overview March 2008                                                                         CMC Overview March 2008
CMCZ Steel Mill Facility                                                                             CMC Steel Alabama
                      #1 Furnace                                   #2 Furnace
                                  22”                                        22”
                                                                                                                             Medium Section Mill
                                              Melt                                       Melt
                                                                                                                             Routine Efficient DC Furnace Operation
                             135 NT                                     135 NT
             105 MVA                                       105 MVA
                                            Capacity:                                  Capacity:
  MELT




                             AC Fce                                     AC Fce
              Xfrmr                                         Xfrmr
                                                                                                                             Continuous Cost / Productivity/Quality
                                            117 mtph                                   84 mtph
                                                                                                                             Improvements
           60 MVA                                         60 MVA
                                                                                                                             Growth in South Central U.S.A.
            Xfrmr                                          Xfrmr
                          LMS Porous Plug                            LMS Porous Plug
                                Stirring                                   Stirring                                          FY 2007
         Bar Mill                                       Wire Rod Mill                                                         – Tons Melted     614,000
         18 stand in-line continuous                    Dual strand double rod
                                                                                                                              – Tons Rolled     669,000
         mill with quick change                         block 17 stand mill plus
  MILL




         capability on 6 stands;                                                                                              – Tons Shipped    654,000
                                                        8 strand wire rod block;
         120 metric tph reheat furnace capacity;
                                                        100 metric tph reheat furnace capacity
         16 meters per second finishing speed;
                                                        Maximum speed 55 meters per second
         In-line stacking and bundling

                                                                                             25                                                                       26
CMC Overview March 2008                                                                            CMC Overview March 2008




                            CMC Steel Arkansas                                                                        CMC Steel South Carolina
                                                                                                                              Growth in Southeast U.S.A.
                            USA’s Leading Fence Post Provider
                                                                                                                              State-of-the-Art, Quick Change, High
                            Modern, Efficient Rail Reroller
                                                                                                                              Productivity Bar Mill
                              – Posts/Rebar/Bed Angles/Earth Bar
                                                                                                                              FY 2007
                            Low Cost Producer of Posts                                                                         – Tons Melted     649,000
                                                                                                                               – Tons Rolled     669,000
                            Roll Billets Into Niche Products
                                                                                                                               – Tons Shipped    654,000
                              – Flats/Angles/Rounds

                            FY 2007 Tons Shipped – 130,000




                                                                                             27                                                                       28
CMC Overview March 2008                                                                            CMC Overview March 2008
CMC Steel Mill Products
                           CMC Steel Texas
                                                                            PRODUCTS             CMC Steel AL       CMC Steel AR   CMC Steel SC     CMC Steel TX         CMCZ
                          Low Cost Producer
                                                                            Rebar                                       #3–6          #3–18            #3–18         10.0 – 40.0mm
                          Flexible, High Productivity Bar Mill
                                                                            Rounds
                                                                                                                     1/2” – 1”      1/2” – 3”      1/2” – 3-1/2”     16.0 – 52.0mm
                          Broad Product Range                               SBQ & MBQ

                           – Rebar, Merchant Bar, and SBQ                   Flats                     3” – 12”      1-1/2” – 3”    1-1/2” – 6”        2” – 6”       25.0 – 100.0mm
                          New Caster Fiscal 2006                            Squares                                                 1/2” – 2”      1/2” – 3-1/2”     40.0 – 52.0mm
                          Strong Customer Base                              Angles                    3” – 7”         1” – 2”        1” – 4”          1” – 4”        25.0 – 51.0mm
                                                                            Channels                  3” – 8”                        3” – 6”          3” – 6”
                          Trucking Fleet Backhauls Scrap
                                                                            Fence Post                              All sizes      .95#, 1.25#,
                          Growth in Southwest U.S.A.                                                                                  1.33#
                                                                            Special                                 Earth bar;                    Rail anchors;
                          FY 2007                                           Sections                                                              jail bars;
                                                                                                                    concrete
                                                                                                                                                  Other
                           – Tons Melted    859,000                                                                 form bar;
                                                                                                                    sign posts
                           – Tons Rolled    730,000
                                                                            Wire Rod                                                                                 5.5 – 11.0mm
                           – Tons Shipped   869,000
                                                                       29                                                                                                       30
CMC Overview March 2008                                                               CMC Overview October 2007




                                                                                        Domestic Steel Mill Customers
                  Inter-Segment Dealings
                                                                                    CMC Steel AL                  CMC Steel AR         CMC Steel SC             CMC Steel TX
                                                                                  Fabricators                    Farm Co-Ops/         Fabricators           Fabricators
         Ferrous Scrap Purchased by Domestic Steel Mills
                                                                                                                 Distributors
         from CMC Recycling                                      16%
                                                                                  Service Centers                Lumber Yards         Contractors           Contractors
         Ferrous Scrap and Rail Sourced by Domestic Steel
         Mills from Steel Scrap Yards                            20%
                                                                                  Mobile Home                    Service Centers      Service Centers       Service Centers
         Ferrous Scrap Processed by Texas/South Carolina
                                                                                  Mfg.
         Shredders                                               31%
                                                                                  Tower Mfg.                     Manufacturers        Other OEM’s           Forge Shops
         Steel Produced by Domestic Steel Mills and Sold to
         Domestic Fabrication                                    33%              Trailer Mfg.                                                              Sucker Rod Mfg.
         Steel Purchased by Domestic Fabrication Segment from
                                                                                  Cold Drawers                                                              Other OEM’s
         Domestic Steel Mills                                    46%

                                                                                  Other OEM’s                                                               Fabricators
         As % of Total Requirement



                                                                       31                                                                                                       32
CMC Overview March 2008                                                     CMC Overview March 2008
CMC Zawiercie
          Domestic Steel Mill Competitors
                                                                                                        Second Largest Steel Producer in Poland
      CMC Steel AL              CMC Steel AR        CMC Steel SC     CMC Steel TX
                                                                                                        Minimill Capacity 1.1 Million Tons
                              Chicago Heights
   Bayou Steel                                   Bayou Steel       Border Steel                         Goal is 70% Domestic and 30% Export Sales
                              Steel
   Gerdau                     Jersey Shore       Gerdau            Gerdau                               Main Products are Rebar, Wire Rod, and Merchants
   AmeriSteel                 Steel              AmeriSteel        AmeriSteel
                                                                                                        Mega Shredder and Fab Shop in 2006
   Nucor Corp.                W. Silver Inc.     Nucor Corp.       Nucor Corp.
                                                                                                        FY 2007
   Steel Dynamics                                Steel Dynamics
                                                                                                          – Tons Melted            1,458,000
                                                                                                          – Tons Rolled            1,130,000
                                                                                                          – Tons Shipped           1,366,000

                                                                                  33                                                                                                 34
CMC Overview March 2008                                                                CMC Overview March 2008




                                                                                                Fabrication Shops
                                      CMC Sisak
                                                                                                                                                     Rebar   Structural    Steel    CRP
                                                                                                                                                      Fab       Fab       Whsng.   & Other
                                                                                           CMC Alamo Steel, Waco, TX
                                                                                           CMC Capitol City Steel, Buda, TX
                 Established 1948; Acquired September 2007
                                                                                           CMC Capitol Steel
                 Manufactures Seamless, Welded and Cold Processed Pipe                     Baton Rouge, Lumberton & Slidell, LA
                                                                                           CMC Economy Steel, Las Vegas, NV
                 1,400 Employees
                                                                                           CMC Fontana Steel
                                                                                           Etiwanda, San Marcos & Stockton, CA
                 300,000 MT Rolling Capacity
                                                                                           CMC Houston Steel, Houston, TX
                   – 170,000     Welded Tubes
                                                                                           CMC Kilroy Steel, Cleveland, OH
                   – 70,000      Heavy Walled Seamless Pipe                                CMC Rebar, Dallas, Ft. Worth, Melissa & Waxahachie, TX;
                                                                                           Albuquerque, NM; Keithville, LA; Little Rock, AR;
                   – 35,000      Medium Section Seamless Pipe                              Oklahoma City & Tulsa, OK
                   – 25,000      Cold Drawn Tubes                                          CMC Rebar Arizona, Chandler, AZ
                                                                                           CMC Rebar Carolinas, Gastonia, NC & Columbia, SC
                   – Melt Shop – 70,000 Blooms
                                                                                           CMC Rebar Corpus Christi, Corpus Christi, TX
                 Turnaround; Manufacturing at Less Than 20% of Capacity at                 CMC Rebar Fabricators, Bloomington, CA
                 Acquisition

                                                                                  35                                                                                                 36
CMC Overview March 2008                                                                CMC Overview March 2008
Fabrication Shops                                                                                          Significant Other Fabrication Operations
                                                                     Rebar    Structural      Steel    CRP
                                                                      Fab        Fab         Whsng.   & Other
    CMC Rebar Florida
    Jacksonville, Ft. Myers & Kissimmee, FL
                                                                                                                    Location                                                                         Product Line
    CMC Rebar Fresno, Fresno, CA
    CMC Rebar Georgia, Atlanta & Lawrencville, GA
                                                                                                                    CMC Impact Metals                                                              Heat Treating Steel
    CMC Rebar Golden Gate, Emeryville, CA                                                                              Pell City, AL; Struthers, OH; Chicora, PA
    CMC Rebar San Antonio, Helotes, TX
                                                                                                                    CMC Joist & Deck                                                            Shortspan and Longspan
    CMC Rebar Virginia, Farmville & Fredericksburg, VA                                                                 Hope, AR; Starke, FL; Iowa Falls, IA; South Plainfield & Summit, NJ;       Joists; Steel Decking
                                                                                                                       Fallon, NV; New Columbia, PA; Eastover & Rock Hill, SC; Juarez, Mex.
    CMC Safety Steel Service, Victoria, TX
                                                                                                                    CMC Metal Recycling
    CMC South Carolina Steel, Taylors & N. Charleston, SC
                                                                                                                                                                                                  Scrap Metal Recycling
                                                                                                                       Alexander City & Birmingham, AL; Augusta, GA; Austin (2) & Seguin (2),
    CMC Southern States Steel, Beaumont, TX
                                                                                                                       TX; Cayce, Florence, Gaston, Lexington, No. Augusta & Spartanburg, SC
    CMC Steel Fabricators, Seguin, TX
                                                                                                                    CMC Rail
    CMC Sterling Steel, Houston, TX                                                                                                                                                             Railroad Track Dismantling
                                                                                                                       Magnolia, AR
    CMC Texas Cold Finished Steel, Houston, TX
                                                                                                                    CMC Steel Products                                                            Castellated & Cellular
    CMC Valley Steel, Harlington, TX
                                                                                                                                                                                                         Beams
                                                                                                                       Hope, AR; Farmville, VA



                                                                                                           37                                                                                                         38
CMC Overview March 2008                                                                                         CMC Overview March 2008




                                                                                                                               Domestic Minimill and Scrap
    Significant Other Fabrication Operations                                                                                     Processing Locations
    Location                                                                               Product Line

    CMC Construction Services
       N. Little Rock, Sherwood & Springdale, AR; Phoenix & Tucson, AZ;
       Riverside, CA; Denver & Rifle, CO; Jacksonville, Orlando, & Tampa, FL;        Concrete Accessories;
       Boise, ID; Alexandria, Baton Rouge, Jefferson, Shreveport & Sulphur, LA;       Highway Products;
       D’Iberville & Jackson, MS; Albuquerque, NM; Broken Arrow, OK;                   Forming Systems
       Charleston, Columbia & Greenville, SC; Amarillo, Austin, College Station,
       Conroe, Corpus Christi, Dallas, El Paso, Fort Worth, Houston (3), Lubbock,
       Melissa, Round Rock, San Antonio, & Texas City, TX; Salt Lake City, UT                                         Steel Minimills
                                                                                                                      Copper Tube Mill
    CMC Southern Post                                                                  Studded “T” Steel
                                                                                                                      CMC Recycling Locations
                                                                                          Fence Posts
       Magnolia, AR; West Columbia, SC; San Marcos, TX; Brigham City, UT
                                                                                                                      CMC Recycling Shredders
                                                                                                                      CMC Steel Group Locations
                                                                                                                      CMC Steel Group Shredders
                                                                                                                      Rail Salvage Company



                                                                                                           39                                                                                                         40
CMC Overview March 2008                                                                                         CMC Overview March 2008
Polish & Croatian Steel Minimills and
                   Recycling Tons Capability                                           Marketing and Distribution Locations
                            (000’s)


                                                  Domestic
                                       CMCR                            Total             Processing
                                                    Mills                                Marketing and Distribution

        Ferrous                             2,000    1,000              3,000            Representative Offices
                                                                                         Agents

        Nonferrous                            525         3               528            Investments and Joint Ventures
                                                                                         Steel Minimill
        Total                               2,525    1,003              3,528            Scrap Processing
                                                                                         Steel Fabrication
                                                                                         Pipe & Tube Mill



                                                                                41                                                                          42
CMC Overview March 2008                                                              CMC Overview March 2008




                                                                                        Marketing and Distribution Segment
                  Marketing and Distribution                                                        Locations
                          Strategy                                                                              Domestic
                                                                                                                 – CMC Commonwealth Metals (Fort Lee, NJ)
                  Provide Niche Value-Added Physical Operations
                                                                                                                 – CMC Cometals (Fort Lee, NJ)
                  in Special Situations                                                                          – CMC Dallas Trading (Irving, TX)
                          Marketing and Distribution Emphasized
                   –                                                                                            International
                          Warehouses in Australia
                   –
                                                                                                                 –   Australia
                          Steel Service Centers in Australia (Processing)
                   –
                                                                                                                 –   China
                                                                                                                 –   Germany
                  Partnering with Suppliers and Customers
                                                                                                                 –   Hong Kong
                          Pickling and Oiling Steel Coils in Belgium
                   –
                                                                                                                 –   India
                          Czech Marketing and Trading Agreement
                   –
                                                                                                                 –   Russia
                                                                                                                 –   Singapore
                  Physical Marketers, Not Screen Traders
                                                                                                                 –   Switzerland
                  Consistently Profitable                                                                        –   United Kingdom

                                                                                43                                                                          44
CMC Overview March 2008                                                              CMC Overview March 2008
Marketing and Distribution
      Marketing and Distribution Segment
                                                                                                              Products and Services
            Strategic Investments
                                                                                                                     Aluminum, Brass and Copper Semis
                                                                                                                     Industrial Products for Steel, Refractory,
                               Trinecke (Czech Republic)
                                                                                                                     Foundry Industries
                               Europickling (Belgium)
                                                                                                                     New Steel, Long and Flat Products
                                                                                                                     Steel and Aluminum Re-Rolling Stock
                                                                                                                     Processing, Heat Treating, Pickle and Oil




                                                                                      45                                                                          46
CMC Overview March 2008                                                                    CMC Overview March 2008




                  Marketing and Distribution                                                                 Marketing and Distribution
                     Services Provided                                                                        Synergies Within CMC
                                                                                                               Sales of Rails / Alloys / Complementary Steel
                                                                                                               and Copper Finished Goods to Domestic Mills
  •                             •                              •
      Integrity                     Hedging                        Insurance
  •                             •                              •
      Market Knowledge              Foreign Exchange               Customs Clearance                           Personnel Seconded to CMCZ
  •                             •                              •
      Multiple Suppliers            Production Monitoring          Warehousing/JIT
                                                                                                               Import for Domestic Fab Stock
                                       and Inspection
  •                                                            •
      Competitive Bids                                             Technical Support
                                                                                                               Market Intelligence
                                •   L/C Arrangement
  •                                                            •
      Foreign Language                                             Financing
                                                                                                                 –   World Metal Prices – Local
                                •
        Capability                  Re-Packaging/
                                                               •   Claim Settlement
                                                                                                                 –   World Metal Prices – Import
                                      Port Loading/Discharge
  •   Contract Documentation
                                                                                                                 –   Local Political/Economic Conditions
                                •   Marine and Inland
                                                                                                                 –   Freight Markets
                                      Transportation
                                                                                                                 –   Competitor Moves
                                                                                                                 –   M&A Opportunities
                                                                                                                 –   Joint China Strategy
                                                                                      47                                                                          48
CMC Overview March 2008                                                                    CMC Overview March 2008
Stock Performance Graph                                                                                   Acquisition Criteria
                                           Fiscal Years
             $700
                                                                                                                          Maintain Investment Grade Rating
                                                                             CMC
             $650                                 CMC
             $600                                 S&P 500
                                                                                                                          Return on Capital Criteria Met
                                                                             S&P Stl Ind
             $550
                                                  S&P Stl Ind
             $500
                                                                                                                          Accretive to Shareholders Within One Year
             $450
             $400
                                                                                                                          Within Our Current Scope of Competency
             $350
             $300
                                                                                                                          Product Line Extension
             $250
             $200
                                                                             S&P 500
                                                                                                                          Geographic Expansion
             $150
             $100
              $50
                                                                                                                          End-Use Market Attractive
                  2002          2003       2004         2005    2006      2007
                                                                                                                          International Assets Can Be Attractive
                                                    2002          2007
                                                                                                                          Preference for Non-Union But Not an Absolute
                     Commercial Metals Company    $100.00       $648.86
                                                                                                                          Greenfield Option
                     S&P 500                      $100.00       $176.25
                     S&P Steel Industry Group     $100.00       $561.57

                                                                                           49                                                                              50
CMC Overview March 2008                                                                         CMC Overview March 2008




                          Our Core Competencies
                                                                                                                                    Opportunities
                          We Know How to Treat Our Employees,
                                                                                                                          Downstream Value-Added Operations
                          Customers and Suppliers
                                                                                                                            – Rebar Fabricating
                          We Know How to Make Steel
                                                                                                                            – Joist Manufacturing
                          We Know How to Fabricate Steel
                                                                                                                            – Heat Treating
                          We Know How to Process Scrap
                                                                                                                            – Expansion of Construction-Related Products
                          We Know How to Market Worldwide                                                                   – Small Structural Fabrication
                           –   Buy
                                                                                                                          Steel Mills
                           –   Sell
                                                                                                                            – Geography Must Work (Underserved Markets)
                           –   Transport
                                                                                                                            – Synergies with Current Operations
                           –   Finance
                                                                                                                            – Offer an Expanded Product Line
                          We Do it the RIGHT Way!

                                                                                           51                                                                              52
CMC Overview March 2008                                                                         CMC Overview March 2008
There is More to Come
                                   Opportunities
                                                                                                                                           Sustainability
                          Copper/Brass
                                                                                                                                     Macro Factors
                           – Mill Position to Complement CMC Howell Metal
                                                                                                                                       – Industry Consolidation Has Brought:
                          Recycling
                                                                                                                                              » Financially Stronger Companies with
                           – Regional Strengthening (e.g., Yonack)                                                                              Longer-Term Outlooks
                                                                                                                                              » Pricing Power Pendulum Swinging Towards
                          International
                                                                                                                                                Producers
                           – Early Stage Asia Expansion
                                                                                                                                              » Greater Supply Discipline in Response to
                           – More Physical Operations in Central Europe                                                                         Demand Changes
                             and Australia                                                                                                    » More Control Over Raw Material Inputs
                           – Complement CMCZ                                                                                                  » Diversification of Sources of Earnings Power


                                                                            53                                                                                                                                                                              54
CMC Overview March 2008                                                                            CMC Overview March 2008




                          There is More to Come                                                                         Metal Consumption is the Driving Factor for Metal Pricing

                              Sustainability                                                                                                                                                   Est. 2006 Population (in Millions)
                                                                                                              700                                                                1,400

                                                                                                                                                            Japan
                                                                                                              600
                   Macro Factors                                                                                                                                                 1,200



                                                                                 Steel Consumption KG Per C
                                                                                                              500                                                                1,000

                     – Historical Trend Has Developing Economies                                                                                                Germany
                                                                                                                                                     USA
                                                                                                              400                                                                 800
                       More Metal Intensive                                                                                                                     Australia
                                                                                                              300                                                                 600
                                                                                                                    China                                    France
                           » Industrialization is a Continuing Story                                                                 Thailand
                                                                                                              200                                                                 400
                                                                                                                                                                UK
                                                                                                                                     Mexico
                           » Economic Development Drives Steel/Metals                                         100                                                                 200
                             Consumption                                                                                    India
                                                                                                               0                                                                    0




                                                                                                                                                                                         USA

                                                                                                                                                                                                UK




                                                                                                                                                                                                                                                    China

                                                                                                                                                                                                                                                            India

                                                                                                                                                                                                                                                                    Australia
                                                                                                                                                                                                                        Japan

                                                                                                                                                                                                                                Thailand

                                                                                                                                                                                                                                           Mexico
                                                                                                                                                                                                     France

                                                                                                                                                                                                              Germany
                     – Global Infrastructure                                                                        0           10              20         30               40
                                                                                                                                     US$ GDP Per Capita
                                                                                                                                         Consumption Curve

                                                                                                                Source: IISI, World Bank, CMC Estimates
                                                                                                                         GDP is 2006, Steel Consumption Estimated 2005

                                                                            55
CMC Overview March 2008
There is More to Come                                                            There is More to Come
                              Sustainability                                                                   Sustainability
                    Commercial Metals’ Factors                                                        Commercial Metals’ Factors (Continued)
                      – Diversification Limits Down Cycle Risk                                             – Profit Opportunities Long Cycle – Spot in
                                                                                                             Recycling, Mid-Range in Mills, Longer Term in
                      – Favorable Geography – Capital Assets in Sunbelt
                                                                                                             Fabricators/Distribution
                        Growth Areas and Central European Expansion
                        Corridor                                                                           – Market Upheavals Create Profit Opportunities for
                                                                                                             Worldwide Reach of Marketing & Distribution
                      – Supply Chain Balance – Control Sufficient Scrap
                        Capacity to Meet Mill Demand Which Has Sufficient                                  – Proven Track Record – 30 Years of Annual
                        Capacity to Meet Downstream Value-Added                                              Profitability; Only One Quarterly Loss Over
                        Operations’ Demand                                                                   That Span
                      – Vibrant End-Use Markets – Long Products for
                        Construction, Service Centers, Agriculture, Non-
                        Auto OEM’s

                                                                            57                                                                                   58
CMC Overview March 2008                                                          CMC Overview March 2008




                                                                                                                Investor Information
                          Why CMC Outperforms
                                                                                                   Non-GAAP Financial Measures
                                                                                                        and Regulation G
                                        People
                                                                                              This written and verbal presentation may use financial statement
                                        Markets                                              measures considered non-GAAP financial measures by the Securities
                                                                                                              and Exchange Commission (SEC).
                                        Sourcing                                                    In compliance with the SEC’s Regulation G, we have
                                                                                                                 provided on our web site at

                                                                                                                      www.cmc.com
                                                                                               a reconciliation to the most comparable GAAP measure and other
                                                                                                       information that may be of interest to investors.


                                                                            59                                                                                   60
CMC Overview March 2008                                                          CMC Overview March 2008
Forward Looking Statements
          This written and verbal presentation may contain forward-looking statements regarding
          the outlook for the Company's financial results including net earnings, product pricing
          and demand, production rates, inventory levels, impact of acquisitions, credit conditions
          and general market conditions. These forward-looking statements generally can be
          identified by phrases such as the company or its management “expect,” “anticipates,”
          “believe,” “ought,” “should,” “likely,” “appears,” “projected,” “forecast,” “outlook,”
          “will” or other words or phrases of similar impact. There is inherent risk and uncertainty
          in any forward-looking statements. Variances will occur and some could be materially
          different from management's current opinion. Developments that could impact the
          Company's expectations include construction activity, difficulties or delays in the
          execution of construction contracts resulting in cost overruns or contract disputes,
          metals pricing over which the Company exerts little influence, interest rate changes,
          increased capacity and product availability from competing steel minimills and other
          steel suppliers including import quantities and pricing, court decisions, industry
          consolidation or changes in production capacity or utilization, the ability to integrate
          acquisitions into operations; global factors including political and military uncertainties,
          credit availability, currency fluctuations, energy and supply prices and decisions by
          governments impacting the level of steel imports and pace of overall economic activity,
          particularly China.



                                                                                                         61
CMC Overview March 2008

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commercial metals Overview_03/08

  • 1. CMC A Global Steel and Metals Company Over 14,000 Employees Worldwide in 14 Different Countries Steel Minimills Steel Fabrication Plants CMC Manufactures, Steel Joist & Deck Plants Recycles, Markets Heat Treating Plants and Distributes Steel Steel Fence Post Mfg. Plants and Metal Products and Steel Service Centers Related Materials and Construction-Related Product Services Through a Warehouses Network of Over 200 Copper Tube Minimill Locations Worldwide Metal Recycling Facilities Pipe & Tube Mill Marketing and Distribution Offices 6565 N. MacArthur Blvd. Suite 800 Irving, TX 75039 Strategic Investments Tel 214. 689.4300 Fax 214. 689.5886 www.cmc.com 2 CMC Overview March 2008 Effective 9/1/2007 CMC – Business Model • Locations Throughout the Sunbelt • Poland -- Main Products are • Significant Regional Processor Vertical Integration Rebar & Wire Rod; Mega Shredder of Ferrous and Nonferrous on Site; Captive Scrap Branches • Strategic Mill Support Product Diversification • Croatia Tubular Products Global Geographic Dispersion • Domestic Steel Minimills • Offices in 13 Countries (Long Products) • Physical Operations and Strategic Investments • Copper Tube Minimill ―11% Investment in Czech Mill ―Australian Service Centers ―Belgian Pickling & Oiling 24% Joint Venture • Downstream Operations: Rebar and • Consultants/Agents in 20 Countries Structural Fab, Joist, Deck, CRP, • Rebar Fab; 2 Locations; More Underway Domestic Steel Import, Fence Posts, 3 Heat Treating, Other CMC Overview March 2008
  • 2. How is CMC Different? Conservative Accounting Conservative Company with a Strong, Fast Depreciation Rates Experienced Management Team No Significant Post-Retirement Benefits High Correlation Between Hedging Strategy and Underlying Assets 30 Consecutive Years of Profitability Build Markets, then Build Manufacturing/ No Speculation or Position Taking Processing Operations No Esoteric Financial Instruments Vertically Integrated: Scrap Processing and Steel Very Cautionary Bad Debt Reserves / Use of Fabrication are Hedges for the Steel and Copper Tubing Mills Credit Insurance Marketing and Distribution – Consistently Profitable LIFO Inventory Valuation People Development Investment Grade Long-Term Debt and Commercial Paper 5 6 CMC Overview March 2008 CMC Overview March 2008 Financial Objectives CMC’s Peer Group Profitability Peer Companies Plus Private & International Players » Net Income Return on Beginning Equity 10 - 14% Bayou Steel Corporation Corus » Operating Profit ROA > 16% Gerdau AmeriSteel David J. Joseph (Nucor) Leverage Mueller Industries Duferco Nucor Corporation Glencore » Long-Term Debt/Total Capitalization 30 - 40% Oregon Steel Mills, Inc. Mittal Coverage Quanex Corporation Omnisource (Steel Dynamics) Schnitzer Steel Industries Sims (Metal Management) » EBITDA/Interest > 6x Steel Dynamics Stemcor Wolverine Tube Inc 7 8 CMC Overview March 2008 CMC Overview March 2008
  • 3. Liquidity Operating Profit by Segment FY 2007 FY 2006 FY 2005 $400 MM Commercial Paper Program $200 MM A/R Securitization Agreement 14% 13% 16% 11% 18% 14% Unsecured Bank Credit Lines 14% 15% Revolvers Have Never Been Called On 24% 42% Weighted Average Long-Term Interest 44% 49% 17% 9% Rate on Public Debt – 6.29% Domestic Domestic Marketing & CMCZ Recycling Mills Fabrication Distribution 9 10 CMC Overview March 2008 CMC Overview March 2008 Stock Repurchases Consolidated Net Sales ($ in Millions) ($ in Billions) $100 79 77 $10 8.3 $80 $9 59 7.2 $8 $60 6.3 $7 42 $6 4.6 $40 $5 15 15 $4 2.7 $20 7 7 5 $3 $2 $0 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 $1 $0 2003 2004 2005 2006 2007 11 12 CMC Overview March 2008 CMC Overview March 2008
  • 4. Capital Expenditures Dividends Per Share ($ in Millions) $250 $0.40 206 0.33 $0.35 $200 $0.30 131 $0.25 $150 0.171 110 $0.20 0.115 $100 $0.15 63 0.085 0.08 0.07 52 $0.10 $50 $0.05 $0.00 $0 2002 2003 2004 2005 2006 2007 2003 2004 2005 2006 2007 Note: Excludes Acquisitions 13 14 CMC Overview March 2008 CMC Overview March 2008 LIFO Reserve Domestic Mills Net Sales ($ in Millions) ($ in Billions) 241 250 189 $2.0 200 1.6 1.6 $1.6 1.3 150 1.1 111 $1.2 92 0.8 100 $0.8 50 22 $0.4 17 8 8 6 3 $0.0 0 2003 2004 2005 2006 2007 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 At August 31 15 16 CMC Overview March 2008 CMC Overview March 2008
  • 5. Domestic Minimill and Fabrication Locations 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 Steel Manufacturing Refrigeration Steel Fabrication Steel Joist & Deck Plants Value-Added Products – Line Sets Heat Treating Copper Tube Manufacturing Fence Post Manufacturing Construction-Related Products Warehousing Castellated & Cellular Beam Fabrication 18 CMC Overview March 2008 Domestic Steel Mill Shipments Copper Tube Manufacturing Shipments (Tons 000’s) (in Millions of Pounds) CMC-TX CMC-AL CMC-AR CMC-SC 2,800 2,492 100 2,401 2,600 2,284 2,266 2,250 2,171 2,400 68.4 2,008 80 65.7 66.6 2,200 61.9 1,903 1,853 2,000 1,685 52.5 60 1,800 1,600 1,400 40 1,200 1,000 20 800 600 400 0 200 2003 2004 2005 2006 2007 0 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 19 20 CMC Overview March 2008 CMC Overview March 2008
  • 6. Steel Minimills Domestic Steel Mill Shipments by Region Fiscal 2007 Capacity (Tons 000’s) Melting Rolling CMC Steel Alabama: Birmingham, AL 650 575 (mid-size structural products) 18% CMC Steel Arkansas: Magnolia, AR 0 150 (posts, rebar, flats, angles, squares) CMC Steel South Carolina: Cayce, SC 700 800 (full line bar size products) CMC Steel Texas: Seguin, TX 900 900 34% (full line bar size products) CMC Zawiercie: Zawiercie, Poland 1,500 1,100 (rebar and wire rod) 48% Total 3,750 3,525 21 22 CMC Overview March 2008 CMC Overview March 2008 Domestic Steel Mill Facilities Domestic Steel Mill Facilities CMC Steel South Carolina CMC Steel Texas CMC Steel Alabama CMC Steel Arkansas 22” 24” 28” Melt 84NT 120 NT 80 MVA Capacity: 80 MVA Melt MELT 90 NT 72 MVA AC Fce AC Fce Xfrmr Melt MELT Xfrmr Capacity: DC Fce Xfrmr 100 tph Capacity: 130 tph 90 tph 21.5 MVA 25 MVA 21 MVA Xfrmr LMS Xfrmr LMS Xfrmr Ind Stir LMS Ind Stir Ind Stir 17 stand in-line continuous 17 stand in-line continuous 14 stand in-line continuous Rail slitting & re-rolling; mill (7 stand cantilever mill (all conventional) mill with quick change billet rolling rougher) with quick change MILL capability on 9 stands with quick change on all 17 stands 12 stand in-line mill capability MILL (12 passes continuous; 100 tph reheat furnace capacity 160 tph capacity; 3,300 fpm finishing and 150 tph reheat furnace capacity 14 passes using 3 hi) In-line straightening/stacking/bundling In-line straightening & stacking 3,000 fpm finishing speed 40 tph reheat furnace Profile gauge In-line bundling In-line bundling Profile gauge 2000 fpm finishing speed 23 24 CMC Overview March 2008 CMC Overview March 2008
  • 7. CMCZ Steel Mill Facility CMC Steel Alabama #1 Furnace #2 Furnace 22” 22” Medium Section Mill Melt Melt Routine Efficient DC Furnace Operation 135 NT 135 NT 105 MVA 105 MVA Capacity: Capacity: MELT AC Fce AC Fce Xfrmr Xfrmr Continuous Cost / Productivity/Quality 117 mtph 84 mtph Improvements 60 MVA 60 MVA Growth in South Central U.S.A. Xfrmr Xfrmr LMS Porous Plug LMS Porous Plug Stirring Stirring FY 2007 Bar Mill Wire Rod Mill – Tons Melted 614,000 18 stand in-line continuous Dual strand double rod – Tons Rolled 669,000 mill with quick change block 17 stand mill plus MILL capability on 6 stands; – Tons Shipped 654,000 8 strand wire rod block; 120 metric tph reheat furnace capacity; 100 metric tph reheat furnace capacity 16 meters per second finishing speed; Maximum speed 55 meters per second In-line stacking and bundling 25 26 CMC Overview March 2008 CMC Overview March 2008 CMC Steel Arkansas CMC Steel South Carolina Growth in Southeast U.S.A. USA’s Leading Fence Post Provider State-of-the-Art, Quick Change, High Modern, Efficient Rail Reroller Productivity Bar Mill – Posts/Rebar/Bed Angles/Earth Bar FY 2007 Low Cost Producer of Posts – Tons Melted 649,000 – Tons Rolled 669,000 Roll Billets Into Niche Products – Tons Shipped 654,000 – Flats/Angles/Rounds FY 2007 Tons Shipped – 130,000 27 28 CMC Overview March 2008 CMC Overview March 2008
  • 8. CMC Steel Mill Products CMC Steel Texas PRODUCTS CMC Steel AL CMC Steel AR CMC Steel SC CMC Steel TX CMCZ Low Cost Producer Rebar #3–6 #3–18 #3–18 10.0 – 40.0mm Flexible, High Productivity Bar Mill Rounds 1/2” – 1” 1/2” – 3” 1/2” – 3-1/2” 16.0 – 52.0mm Broad Product Range SBQ & MBQ – Rebar, Merchant Bar, and SBQ Flats 3” – 12” 1-1/2” – 3” 1-1/2” – 6” 2” – 6” 25.0 – 100.0mm New Caster Fiscal 2006 Squares 1/2” – 2” 1/2” – 3-1/2” 40.0 – 52.0mm Strong Customer Base Angles 3” – 7” 1” – 2” 1” – 4” 1” – 4” 25.0 – 51.0mm Channels 3” – 8” 3” – 6” 3” – 6” Trucking Fleet Backhauls Scrap Fence Post All sizes .95#, 1.25#, Growth in Southwest U.S.A. 1.33# Special Earth bar; Rail anchors; FY 2007 Sections jail bars; concrete Other – Tons Melted 859,000 form bar; sign posts – Tons Rolled 730,000 Wire Rod 5.5 – 11.0mm – Tons Shipped 869,000 29 30 CMC Overview March 2008 CMC Overview October 2007 Domestic Steel Mill Customers Inter-Segment Dealings CMC Steel AL CMC Steel AR CMC Steel SC CMC Steel TX Fabricators Farm Co-Ops/ Fabricators Fabricators Ferrous Scrap Purchased by Domestic Steel Mills Distributors from CMC Recycling 16% Service Centers Lumber Yards Contractors Contractors Ferrous Scrap and Rail Sourced by Domestic Steel Mills from Steel Scrap Yards 20% Mobile Home Service Centers Service Centers Service Centers Ferrous Scrap Processed by Texas/South Carolina Mfg. Shredders 31% Tower Mfg. Manufacturers Other OEM’s Forge Shops Steel Produced by Domestic Steel Mills and Sold to Domestic Fabrication 33% Trailer Mfg. Sucker Rod Mfg. Steel Purchased by Domestic Fabrication Segment from Cold Drawers Other OEM’s Domestic Steel Mills 46% Other OEM’s Fabricators As % of Total Requirement 31 32 CMC Overview March 2008 CMC Overview March 2008
  • 9. CMC Zawiercie Domestic Steel Mill Competitors Second Largest Steel Producer in Poland CMC Steel AL CMC Steel AR CMC Steel SC CMC Steel TX Minimill Capacity 1.1 Million Tons Chicago Heights Bayou Steel Bayou Steel Border Steel Goal is 70% Domestic and 30% Export Sales Steel Gerdau Jersey Shore Gerdau Gerdau Main Products are Rebar, Wire Rod, and Merchants AmeriSteel Steel AmeriSteel AmeriSteel Mega Shredder and Fab Shop in 2006 Nucor Corp. W. Silver Inc. Nucor Corp. Nucor Corp. FY 2007 Steel Dynamics Steel Dynamics – Tons Melted 1,458,000 – Tons Rolled 1,130,000 – Tons Shipped 1,366,000 33 34 CMC Overview March 2008 CMC Overview March 2008 Fabrication Shops CMC Sisak Rebar Structural Steel CRP Fab Fab Whsng. & Other CMC Alamo Steel, Waco, TX CMC Capitol City Steel, Buda, TX Established 1948; Acquired September 2007 CMC Capitol Steel Manufactures Seamless, Welded and Cold Processed Pipe Baton Rouge, Lumberton & Slidell, LA CMC Economy Steel, Las Vegas, NV 1,400 Employees CMC Fontana Steel Etiwanda, San Marcos & Stockton, CA 300,000 MT Rolling Capacity CMC Houston Steel, Houston, TX – 170,000 Welded Tubes CMC Kilroy Steel, Cleveland, OH – 70,000 Heavy Walled Seamless Pipe CMC Rebar, Dallas, Ft. Worth, Melissa & Waxahachie, TX; Albuquerque, NM; Keithville, LA; Little Rock, AR; – 35,000 Medium Section Seamless Pipe Oklahoma City & Tulsa, OK – 25,000 Cold Drawn Tubes CMC Rebar Arizona, Chandler, AZ CMC Rebar Carolinas, Gastonia, NC & Columbia, SC – Melt Shop – 70,000 Blooms CMC Rebar Corpus Christi, Corpus Christi, TX Turnaround; Manufacturing at Less Than 20% of Capacity at CMC Rebar Fabricators, Bloomington, CA Acquisition 35 36 CMC Overview March 2008 CMC Overview March 2008
  • 10. Fabrication Shops Significant Other Fabrication Operations Rebar Structural Steel CRP Fab Fab Whsng. & Other CMC Rebar Florida Jacksonville, Ft. Myers & Kissimmee, FL Location Product Line CMC Rebar Fresno, Fresno, CA CMC Rebar Georgia, Atlanta & Lawrencville, GA CMC Impact Metals Heat Treating Steel CMC Rebar Golden Gate, Emeryville, CA Pell City, AL; Struthers, OH; Chicora, PA CMC Rebar San Antonio, Helotes, TX CMC Joist & Deck Shortspan and Longspan CMC Rebar Virginia, Farmville & Fredericksburg, VA Hope, AR; Starke, FL; Iowa Falls, IA; South Plainfield & Summit, NJ; Joists; Steel Decking Fallon, NV; New Columbia, PA; Eastover & Rock Hill, SC; Juarez, Mex. CMC Safety Steel Service, Victoria, TX CMC Metal Recycling CMC South Carolina Steel, Taylors & N. Charleston, SC Scrap Metal Recycling Alexander City & Birmingham, AL; Augusta, GA; Austin (2) & Seguin (2), CMC Southern States Steel, Beaumont, TX TX; Cayce, Florence, Gaston, Lexington, No. Augusta & Spartanburg, SC CMC Steel Fabricators, Seguin, TX CMC Rail CMC Sterling Steel, Houston, TX Railroad Track Dismantling Magnolia, AR CMC Texas Cold Finished Steel, Houston, TX CMC Steel Products Castellated & Cellular CMC Valley Steel, Harlington, TX Beams Hope, AR; Farmville, VA 37 38 CMC Overview March 2008 CMC Overview March 2008 Domestic Minimill and Scrap Significant Other Fabrication Operations Processing Locations Location Product Line CMC Construction Services N. Little Rock, Sherwood & Springdale, AR; Phoenix & Tucson, AZ; Riverside, CA; Denver & Rifle, CO; Jacksonville, Orlando, & Tampa, FL; Concrete Accessories; Boise, ID; Alexandria, Baton Rouge, Jefferson, Shreveport & Sulphur, LA; Highway Products; D’Iberville & Jackson, MS; Albuquerque, NM; Broken Arrow, OK; Forming Systems Charleston, Columbia & Greenville, SC; Amarillo, Austin, College Station, Conroe, Corpus Christi, Dallas, El Paso, Fort Worth, Houston (3), Lubbock, Melissa, Round Rock, San Antonio, & Texas City, TX; Salt Lake City, UT Steel Minimills Copper Tube Mill CMC Southern Post Studded “T” Steel CMC Recycling Locations Fence Posts Magnolia, AR; West Columbia, SC; San Marcos, TX; Brigham City, UT CMC Recycling Shredders CMC Steel Group Locations CMC Steel Group Shredders Rail Salvage Company 39 40 CMC Overview March 2008 CMC Overview March 2008
  • 11. Polish & Croatian Steel Minimills and Recycling Tons Capability Marketing and Distribution Locations (000’s) Domestic CMCR Total Processing Mills Marketing and Distribution Ferrous 2,000 1,000 3,000 Representative Offices Agents Nonferrous 525 3 528 Investments and Joint Ventures Steel Minimill Total 2,525 1,003 3,528 Scrap Processing Steel Fabrication Pipe & Tube Mill 41 42 CMC Overview March 2008 CMC Overview March 2008 Marketing and Distribution Segment Marketing and Distribution Locations Strategy Domestic – CMC Commonwealth Metals (Fort Lee, NJ) Provide Niche Value-Added Physical Operations – CMC Cometals (Fort Lee, NJ) in Special Situations – CMC Dallas Trading (Irving, TX) Marketing and Distribution Emphasized – International Warehouses in Australia – – Australia Steel Service Centers in Australia (Processing) – – China – Germany Partnering with Suppliers and Customers – Hong Kong Pickling and Oiling Steel Coils in Belgium – – India Czech Marketing and Trading Agreement – – Russia – Singapore Physical Marketers, Not Screen Traders – Switzerland Consistently Profitable – United Kingdom 43 44 CMC Overview March 2008 CMC Overview March 2008
  • 12. Marketing and Distribution Marketing and Distribution Segment Products and Services Strategic Investments Aluminum, Brass and Copper Semis Industrial Products for Steel, Refractory, Trinecke (Czech Republic) Foundry Industries Europickling (Belgium) New Steel, Long and Flat Products Steel and Aluminum Re-Rolling Stock Processing, Heat Treating, Pickle and Oil 45 46 CMC Overview March 2008 CMC Overview March 2008 Marketing and Distribution Marketing and Distribution Services Provided Synergies Within CMC Sales of Rails / Alloys / Complementary Steel and Copper Finished Goods to Domestic Mills • • • Integrity Hedging Insurance • • • Market Knowledge Foreign Exchange Customs Clearance Personnel Seconded to CMCZ • • • Multiple Suppliers Production Monitoring Warehousing/JIT Import for Domestic Fab Stock and Inspection • • Competitive Bids Technical Support Market Intelligence • L/C Arrangement • • Foreign Language Financing – World Metal Prices – Local • Capability Re-Packaging/ • Claim Settlement – World Metal Prices – Import Port Loading/Discharge • Contract Documentation – Local Political/Economic Conditions • Marine and Inland – Freight Markets Transportation – Competitor Moves – M&A Opportunities – Joint China Strategy 47 48 CMC Overview March 2008 CMC Overview March 2008
  • 13. Stock Performance Graph Acquisition Criteria Fiscal Years $700 Maintain Investment Grade Rating CMC $650 CMC $600 S&P 500 Return on Capital Criteria Met S&P Stl Ind $550 S&P Stl Ind $500 Accretive to Shareholders Within One Year $450 $400 Within Our Current Scope of Competency $350 $300 Product Line Extension $250 $200 S&P 500 Geographic Expansion $150 $100 $50 End-Use Market Attractive 2002 2003 2004 2005 2006 2007 International Assets Can Be Attractive 2002 2007 Preference for Non-Union But Not an Absolute Commercial Metals Company $100.00 $648.86 Greenfield Option S&P 500 $100.00 $176.25 S&P Steel Industry Group $100.00 $561.57 49 50 CMC Overview March 2008 CMC Overview March 2008 Our Core Competencies Opportunities We Know How to Treat Our Employees, Downstream Value-Added Operations Customers and Suppliers – Rebar Fabricating We Know How to Make Steel – Joist Manufacturing We Know How to Fabricate Steel – Heat Treating We Know How to Process Scrap – Expansion of Construction-Related Products We Know How to Market Worldwide – Small Structural Fabrication – Buy Steel Mills – Sell – Geography Must Work (Underserved Markets) – Transport – Synergies with Current Operations – Finance – Offer an Expanded Product Line We Do it the RIGHT Way! 51 52 CMC Overview March 2008 CMC Overview March 2008
  • 14. There is More to Come Opportunities Sustainability Copper/Brass Macro Factors – Mill Position to Complement CMC Howell Metal – Industry Consolidation Has Brought: Recycling » Financially Stronger Companies with – Regional Strengthening (e.g., Yonack) Longer-Term Outlooks » Pricing Power Pendulum Swinging Towards International Producers – Early Stage Asia Expansion » Greater Supply Discipline in Response to – More Physical Operations in Central Europe Demand Changes and Australia » More Control Over Raw Material Inputs – Complement CMCZ » Diversification of Sources of Earnings Power 53 54 CMC Overview March 2008 CMC Overview March 2008 There is More to Come Metal Consumption is the Driving Factor for Metal Pricing Sustainability Est. 2006 Population (in Millions) 700 1,400 Japan 600 Macro Factors 1,200 Steel Consumption KG Per C 500 1,000 – Historical Trend Has Developing Economies Germany USA 400 800 More Metal Intensive Australia 300 600 China France » Industrialization is a Continuing Story Thailand 200 400 UK Mexico » Economic Development Drives Steel/Metals 100 200 Consumption India 0 0 USA UK China India Australia Japan Thailand Mexico France Germany – Global Infrastructure 0 10 20 30 40 US$ GDP Per Capita Consumption Curve Source: IISI, World Bank, CMC Estimates GDP is 2006, Steel Consumption Estimated 2005 55 CMC Overview March 2008
  • 15. There is More to Come There is More to Come Sustainability Sustainability Commercial Metals’ Factors Commercial Metals’ Factors (Continued) – Diversification Limits Down Cycle Risk – Profit Opportunities Long Cycle – Spot in Recycling, Mid-Range in Mills, Longer Term in – Favorable Geography – Capital Assets in Sunbelt Fabricators/Distribution Growth Areas and Central European Expansion Corridor – Market Upheavals Create Profit Opportunities for Worldwide Reach of Marketing & Distribution – Supply Chain Balance – Control Sufficient Scrap Capacity to Meet Mill Demand Which Has Sufficient – Proven Track Record – 30 Years of Annual Capacity to Meet Downstream Value-Added Profitability; Only One Quarterly Loss Over Operations’ Demand That Span – Vibrant End-Use Markets – Long Products for Construction, Service Centers, Agriculture, Non- Auto OEM’s 57 58 CMC Overview March 2008 CMC Overview March 2008 Investor Information Why CMC Outperforms Non-GAAP Financial Measures and Regulation G People This written and verbal presentation may use financial statement Markets measures considered non-GAAP financial measures by the Securities and Exchange Commission (SEC). Sourcing In compliance with the SEC’s Regulation G, we have provided on our web site at www.cmc.com a reconciliation to the most comparable GAAP measure and other information that may be of interest to investors. 59 60 CMC Overview March 2008 CMC Overview March 2008
  • 16. Forward Looking Statements This written and verbal presentation may contain forward-looking statements regarding the outlook for the Company's financial results including net earnings, product pricing and demand, production rates, inventory levels, impact of acquisitions, credit conditions and general market conditions. These forward-looking statements generally can be identified by phrases such as the company or its management “expect,” “anticipates,” “believe,” “ought,” “should,” “likely,” “appears,” “projected,” “forecast,” “outlook,” “will” or other words or phrases of similar impact. There is inherent risk and uncertainty in any forward-looking statements. Variances will occur and some could be materially different from management's current opinion. Developments that could impact the Company's expectations include construction activity, difficulties or delays in the execution of construction contracts resulting in cost overruns or contract disputes, metals pricing over which the Company exerts little influence, interest rate changes, increased capacity and product availability from competing steel minimills and other steel suppliers including import quantities and pricing, court decisions, industry consolidation or changes in production capacity or utilization, the ability to integrate acquisitions into operations; global factors including political and military uncertainties, credit availability, currency fluctuations, energy and supply prices and decisions by governments impacting the level of steel imports and pace of overall economic activity, particularly China. 61 CMC Overview March 2008