The document provides an overview of APIMEC-MG's 2Q15 earnings results. It summarizes the company's business activities, product portfolio, operational and financial performance in 1H15 compared to 1H14. Key highlights include a 7.9% decline in domestic sales and 3.4% drop in foreign sales. Adjusted EBITDA declined 22.7% and net income fell 33.2%. The outlook section discusses Brazil's economic indicators and housing deficit. The document also reviews APIMEC-MG's corporate governance, shareholder base, and environmental and social initiatives.

1. APIMEC-MG Meeting | Earning Results 2Q15

2. 2
Disclaimer
“Forward looking statements included in this presentation regarding the
Company’s business, operating and financial results and Company’s growth
are only predictions and were based on management's expectations
regarding future performance. These expectations are highly dependent on
market conditions, Brazilian economic scenario, industry performance and
international markets, and are therefore subject to change.”

3. Eternit Group
Activity
Manufacture of fiber cement and
construction solutions and
commercialization of metallic
fittings
Chrysotile
Mining
Manufacture of
concrete tiles
Commercializa
tion of
bathroom
chinaware
Industrial
Units
4 1 1 6 1
Market Share –
2014
Leader in fiber cement
The world's
3rd largest
Leader in
concrete tiles
5th largest of
Brazil in
bathroom
chinaware
Annual
Capacity
1 million tons
280 thousand
tons
105.000
thousand
pieces
Ramp-up
period
The largest and most diversified roof coverings industry in Brazil
3

4. Strategic Location
Mining company
Sales Office
Eternit Headquarters and Showroom
Concrete Tile Plant
Fiber Cement Plant
Bathroom Chinaware Plant
Unit for the research, development and production of construction
material inputs (under construction)
The industrial units of the Eternit
Group are located in all regions of
Brazil.
4

5. Mining
Serpentinite rock with chrysotile
mineral fibers
Chrysotile Mineral (Before beneficiation)
5
Portfolio

6. Portfolio
Water Tanks and
Construction Solutions
Roof Covering
Metallic Tiles
Concrete Tiles
Fiber Cement Panels
Construction Solutions
Polyethylene Water Tanks
6

7. Portfolio
Roof Covering Accessories
7

8. Portfolio
Bathroom
Toilet Seats
Bathroom Chinaware Kitchen metal fixtures
Bathroom metal fixtures
Kitchens
8

9. Operational Performance

10. 10
1H15 x 1H14
• Domestic Market – down by 7.9%
• Foreign Market – decline of 3.4%
2Q15 x 2Q14
• Domestic Market – drop of 4.5%
• Foreign Market – decrease of 6.3%
Sales of Chrysotile Mineral (thousand tons)
Domestic Market Foreign Market
-5.3%
-11.0%
-6.0%4.3%

11. Covering market - Brazil - 2014
Residential Market Industrial and Commercial Market
Total Market Market Evolution (MM m²)
Metallic
16%
Ceramics
33%
Fiber cement
46%
Other
3%
Fiber cement
34%Metallic
54%
Other
6%
Ceramics
6%
Concrete
2%
Source: Estimative of the Fiber Cement Production Chain
Ceramics
45%
Fiber cement
51%
Concrete
2%
Other
2%
11

12. 12
Sales of Fiber-Cement (thousand tons)
-1.8%-2.2%
-0.4%2.0%

13. 13
Sales of Concrete Tiles (thousand pieces)
-27.0%
-19.0%
-27.7%
-7.7%

14. Economic and Financial Information

15. 15
Domestic Market Foreign Market
Consolidated Net Revenue (R$ million)
7.2%
-8.6%
5.3%2.6%
2Q15 x 2Q14
• Domestic Market – advance of 1.0%
• Foreign Market – growth of 36.8%
1H15 x 1H14
• Domestic Market – up to 0.5%
• Foreign Market – increase of 28.6%

16. 16
COGS Breakdown
Fiber-cement Chrysotile Mineral
Concrete Tiles
(*) Cement (44%), Chrysotile Mineral (42%) and the others (14%) (**) Fuel, explosives, packaging, among the others
(***) Cement (55%), sand (29%) and the others (16%)

17. 17
15.5%
-22.7%
15.7%
-8.9%
Adjusted EBITDA (R$ million) and Adjusted EBITDA
Margin (%)

18. 18
Net Income (R$ million) and Net Margin (%)
-7.4%
-33.2%
-11.2%
-14.4%

19. 19
Origin of debt Repayment Schedule
Debt 06/30/13 06/30/14 06/30/15
Short- term gross debt 55.6 55.8 109.3
Long-term gross debt 34.4 48.2 46.1
Cash and cash equivalents (6.6) (5.0) (13.3)
Short-term investments (same cash equivalents) (49.5) (44.4) (21.2)
Net debt 33.9 54.6 120.9
EBITDA (last 12 months) 185.3 169.3 168.5
Net debt / EBITDA x 0.18 0.32 0.72
EBITDA (last 12 months) 187.5 176.4 191.7
Net debt / EBITDA x 0.18 0.31 0.63
Net debt / Equity 6.9% 10.7% 23.4%
Debt (R$ million)
* Debt related to ACE and ACC, which corresponds to 62% of foreign currency debt, is naturally hedged by accounts receivable in foreign
currency resulting from chrysotile exports.
*

20. 20
Capital Expenditures (R$ million)

21. Capital Markets

22. Corporate Governance Structure
22
General Shareholders’ Meeting
Audit, Financial Control and
Treasury Committee
Disclosure, Socio-Environmental
Responsibility and Legal
Committee
Strategic Planning Committee
Human Resources Committee
Board of Auditors
Board of Directors
CEO*
Internal Controls Internal Auditing
Mining
Directorship
Industrial
Directorship
Human
Resources
Directorship
Commercial
Directorship**
Administrative –
Financial
Directorship
Investor
Relations
Directorship*
* Gathers function
** Gathers function
New Bussiness
Directorship**

23. 23
FREE-FLOAT 84.5%
Individual Investors
Corporations
Investors Abroad
Clubs, Funds and Foundations
*Independent directors in accordance with BM&FBOVESPA
Novo Mercado Regulations
Highlights
Geração L. Par. F. I. A. 13.80%
Luiz Barsi Filho 13.75%
Victor Adler 7.04%
Directors 1.22%
Stocks in Treasury 0.03%
Board of Directors
Member
since
Luis Terepins* - President 2011
Lírio Albino Parisotto* 2004
Marcelo Munhoz Auricchio* 2011
Leonardo Deeke Boguszewski* 2014
Marcelo Gasparino da Silva* 2014
Luiz Barsi Filho* 2015
Raphael Manhães Martins* 2015
Board of Auditors
Member
since
André Eduardo Dantas 2013
Paulo Henrique Z. Funchal 2013
Benedito Carlos Dias da Silva 2015
Luciano Luiz Barsi 2015
Robert Juenemann 2015
Shareholding Structure – Aug/15

24. Liquidity
24
Number of Shareholders
Average Trade Volume
(R$ Thousand)
(*) Until August, 2015
2013 2014 2015*
882
489 480

25. 25
Pay Out
Dividends and Interest on own capitalNet Income
Policy of Remuneration
Net Income x Distributed Earnings (R$ million)

26. Eternit’s Shares Performance
26
Between 08/29/2014 to 08/31/2015, Eternit’s shares depreciated 50.5% and BOVESPA Index
deppreciated 23.9%.
In the same period, including the payment of dividends and interest on own capital, Eternit’s
shares depreciated 44.8%.
*At the Extraordinary General Meeting held on September 24, 2014, the proposed split of the common shares was approved, so that each (1)
share was going to be represented by two (2) shares.
R$ 2.08
46,625

27. Outlook

28. 28
Economic Indicators
Source: BACEN
Minimum Wage x Basic Basket SP (purchasing power)
Credit availability Unemployment rate - Brazil
*preliminary data
Government, Industry, Housing, Rural, Retail, Credit for
Individuals (R$ billion)
*
48.3% 46.0% 49.0%

29. Geographic Region
Up to
Three
Three to
Five
Five to
Ten
More than
Ten
Regional
Housing
Deficit
North 438 67 54 17 576
Northeast 1,361 208 168 54 1,791
Southeast 1,791 273 221 71 2,356
South 460 70 57 18 605
Midwest 353 54 44 14 465
Total Approximate
Housing Deficit
4,403 672 544 174 5,793
29
Housing Deficit by Family Income by Minimum Wages
According to a study by the Getúlio Vargas Foundation (FGV), the reduction in housing deficit was
driven by the support provided to families through the My Home, My Life program, and estimates that
in 2024, with the growth of the population, the country will have approximately 16.4 million new
families, of which 10 million will have family income of up to three minimum wages. The FGV study also
highlights that zeroing the housing deficit will require investments of approximately R$ 760 billion in
low-income housing over the course of ten years.
Source: Study done by the João Pinheiro Foundation, in 2012, official statistics body for the state of Minas Gerais (preliminary results),
and PNAD 2012 (National Survey by Household Sampling).
In thousand of Units

30. Brazil GDP vs. Construction GDP vs. ABRAMAT Index
vs. Consolidated Gross Revenue of Eternit¹ (%)
Source:
*CENTRAL BANK OF BRAZIL – projected growth of Brazilian and construction GDP.
** ABRAMAT – projection of domestic construction material sales in 2015, not adjusted for inflation.
1 ETERNIT – Growth in Eternit's consolidated gross revenue compares January-June 2015 with the same period in
2014, deflated by the IGP-M index.
30

31. Chrysotile – The Brazilian Mineral

32. 32
Serpentinite rock with chrysotile mineral fibers
White Mineral
Bends and silky fibers without tip
High Concentration of Magnesium:3MgOSiO2H2O
Biopersistence*: 2.5 days
*Biopersistence: Time that a inhaled particle remains in
the lungs before being eliminated by the body’s defense
mechanisms. To cause lung damage, the fiber must have
penetration and durability capacities in the alveoli.
Chrysotile – The Brazilian Mineral
The use of Chrysotile ore in Brazil is
regulated by the Federal Law 9,055/95, by
Decree 2,350/97 and by regulatory
standards for occupational health and
safety. It is also provided in the Convention
162 of the International Labor Organization
(OIT).
For further information, please visit: http://www.eternit.com.br/ir

33. Corporate and Environmental Management

34. Corporate Management
Since.................. November, 2004
Objective .................
Contribute to a better understanding of
society about the extraction and processing of
chrysotile asbestos and the manufacture of
fiber cement products in a controlled and
responsible manner.
Coverage..........
Five plants of the Eternit Group and the mine
SAMA
Visitors............... More than 69 thousand until August, 2015
Public ................... General society
Open Doors Program
34

35. Management with Environmental Focus
Quelônios Project - Animal Preservation Area
Single Amazonian turtles breeding in Brazil and Reintegration of
Wild Animal Nature in partnership with IBAMA
Zero Waste Air Quality Monitoring Water reuse Reflorestation
Seedling Nursery
35

36. Management with Social Focus
Inserted in the communities of their fields, Eternit supports the socio-
economic and cultural development of the regions by supporting social
initiatives.
They are sponsored fully by Eternit and its subsidiaries the Open Doors
Program and Sambaíba project.
Check out some of the social projects supported by Eternit and its
subsidiaries in the communities in which they operate:
36

37. 37
Phone: (55-11) 3194-3881
(55-11) 3194-3872
This material was produced with
paper certified FSC (Forest
Stewardship Council), which is a
guarantee that the raw material
comes from a forest managed in an
environmentally, socially and
economically viable.
www.blogdaeternit.com.br
www.eternit.com.br/ir
Nelson Pazikas
nelson.pazikas@eternit.com.br
Paula D. A. Barhum Macedo
paula.barhum@eternit.com.br
Rodrigo Lopes da Luz
rodrigo.luz@eternit.com.br
@Eternit_RI
Dr. Fernandes Coelho Street, 85 – 8th floor
Pinheiros – São Paulo / SP
05423-040
Thiago Scheider
thiago.scheider@eternit.com.br
Further Information