COEMAC is an industrial group based in Spain with two business units: gypsum (plasterboard and drywall systems) and plastic piping systems. In 2015, COEMAC had sales of €129.7 million and employed 539 people across 8 production sites in Spain, Portugal, and France. The company aims to increase profitability from its current level of 1.7% EBITDA margin to a target of 10-15% through international expansion, operational efficiency improvements, and differentiated products. COEMAC expects construction markets in Spain to continue recovering over the next few years, providing opportunities for growth.

1. Corporación Empresarial de Materiales de
Construcción, S.A.
Corporate Presentation
Madrid, March 2016

2. Page nº 2
Corporación Empresarial de Materiales de Construcción, S.A. (COEMAC)
COEMAC headquarter located in Madrid (Spain)
Industrial group with relevant presence in the
Iberian Peninsula (Spain & Portugal) and France
129.7
2015 Sales (MM Eur)
+20
Countries where we have
commercial relations
8.4
2015 EBITDA (MM Eur)
CMC
Spanish Stock Exchange Ticker
2
Business Units
539
Employees

3. Page nº 3
Two leading Business Units in Spain, three product lines
Plasterboard and
drywall systems
Plaster and
casting plaster
Plastic pipe systems
and solutions
 Boards and laminated boards Pladur®
 Acoustic ceilings Pladur® FON+
 Metal profiles Pladur®
 Compounds and accessories
 Manual plasters
 Projection plasters
 Fine finish plasters
 Moulding plaster
 Renovation fillers
Sewerage and drainage:
 Sanecor® PVC pipe
sewerage system
 adequa® Drainage system
Pressure pipes:
 Uratop® Bi-oriented PVC
pipe system
 adequa® PVC pressure pipes
 PVC Pipes and fittings for
sanitary water
 Soundproof system for PVC
Pipes and fittings for sanitary
water (adequa AR®)
 Sanitation an d underground
drainage adequa®
 Rain gutter drainage adequa®
Gypsum Piping Systems

4. Page nº 4
Group structure
COEMAC
 Board of Directors
 Corporate staff
Gypsum
 305 employees
 5 production sites:
 Plasterboard (1)
 Plaster (4)
 New production site for plasterboard under
construction (2018)
 Plasterboard leader in the Iberian Market
 Headquarter located in Valdemoro (Madrid)
Piping Systems
 216 employees
 3 production sites:
 Pressure pipes (1)
 Sewerage and sanitary systems (1)
 Fittings (1)
 Reference company in Spain for the installation of
plastic piping systems
 Headquarter located in Alovera (Guadalajara)
41%
59%
2015 Sales (MM Eur) 77.7
2015 EBITDA (MM Eur) 10.6
EBITDA Margin 13.7%
2015 Sales (MM Eur) 54.6
2015 EBITDA (MM Eur) 1.5
EBITDA Margin 2.7%

5. Page nº 5
COEMAC has right solutions for Building and Civil Works markets
Building Civil works
Residential
Non residential
Drinking water
Sewerage
IrrigationRefurbishing
 Gypsum Piping Systems
  

6. Page nº 6
We interact with all players in the supply chain
DistributorsProject owners Installers Construction
companies
DIY
Generalist
distribution
Specialized
distribution
Government
Engineering
Architects
Piping installers
Gypsum installers
Local companies
Big companies
Others
Irrigation installers

7. Page nº 7
International presence in 2015
Operations in Spain (75% of
total sales)
Exports to more than 20 countries, with
relevant presence in France and Portugal
8 production sites in Spain

8. Page nº 8
Recent history of the group
2015
2008-
2014
2003-
2007
2002
Financial and construction crisis
Internationalization
Business divestment / Debt Restructuring
Return to growth without net debt
New company name (COEMAC)
Nefinsa (new majority shareholder)
Years of strong growth in the Iberian market

9. Page nº 9
COEMAC strategy is organized through three pillars
International
diversification
Efficiency in
operations and
business processes
Differentiated
products and
services
 Excellence in
customer
orientation
 Permanent
commitment to
innovation
 Significant
presence in France
and Portugal
 Dedicated export
teams to other
markets
 Continuous improvement in operations
 Efficiency in management and IT&Comms

10. Page nº 10
During market contraction period (2008-2014), businesses have
internationalized and adapted to the new market size
2007 2008 2009 2010 2011 2012 2013 2014
Sales 246.3 230.6 140.1 127.2 99.7 80.2 70.6 73.1
EBITDA 67.4 57.4 34.6 32.8 21.5 9.0 7.2 8.1
Sales 198.8 182.4 118.7 84.6 85.0 58.7 51.6 50.5
EBITDA 15.9 12.5 9.9 1.5 -4.3 -6.2 -0.8 0.0
15% 14% 13% 11% 12% 19% 26% 26%
Starting
houses in
Spain
(thousand)
651 265 111 92 78 44 34 35
Public Bid for
water works
(million Euros)
4,864 3,624 4,103 3,028 1,430 1,101 1,912 1,547
In Million Euros
Gypsum
Piping
Systems
-95%
Spanish
market
evolution
(1) -77%
% International sales
(out of Spain)
+142%
(1) Spanish Ministry of Public Works, SEOPAN

11. Page nº 11
After completing this transformation in 2015, businesses are on the path
to create sustainable profitable growth
-1.7 %
139.7
2015
6.5%
129.7
2014
3.1 %
120.8
2013
1.2 %
122.3
2012
Ebitda Margin COEMAC (%)Sales COEMAC (M EUR)

12. Page nº 12
Our strategic plan will return COEMAC to a level of profitability target of
10% -15% in the period 2016-2018
5%-10%
10%-15%
0%-5%
<0%
2007-2009
>15%
2010-2011 2012 2013-2014 2015 2016-2018
Ebitda
margin(*)
COEMAC
COEMAC
COEMAC
COEMAC
COEMAC
COEMAC

13. Page nº 13
COEMAC roadmap to increase profitability
3 PILLARS STRATEGY
THREE PHASES OF STRATEGY IMPLEMENTATION SINCE 2012
1 2 3
2012 2013 2014 2015
Market
recovery in Spain
Export
development
Industrial
efficiency
>2015
Business restructuring and simplification
Internationalization and efficiency in operations
Profitable growth

14. Page nº 14
Perspectives of construction in Spain (Euroconstruct)
Housing starts
(miles)
Real evolution Forecast
% Annual change (EUR)
Source: Euroconstruct Dec’15
Total Building
Output(1)
(% Annual Var.
Euros)
Water works
(% Annual Var.
Euros)
(1) Includes new residential and non residential construction, as renovation
80,075,0
60,0
45,034,934,3
44,2
+1,7%
+25,0%
+33,3%
+28,9%
2017E2016E2015E201420132012 2018E
+6,7%
1,2%
2014
-3,4%
2013
-15,2%
2012
-26,2%
2016E
4,4%
2017E
5,4%
2015E 2018E
3,3%
2017E
6,0%6,5%
2016E2015E
5,0%
2012 2014
14,6%
2013
-13,2%
-39,6%
2018E
6,0%

15. Page nº 15
Managing Directors / Board of Directors
Managing Directors Board of Directors
Javier González Ochoa
President and CEO
Gonzalo Serratosa Luján
Vicepresident
Carmen del Río Novo
Secretary General
Miguel Escrivá Bertó
Corporate Financial Director
Enrique Ramírez Asperilla
Gypsum Managing Director
Fernando Blasco Marzal
Piping Systems Managing Director
Javier González Ochoa
President
Gonzalo Serratosa Luján
Vicepresident
José Antonio Carrascosa Ruiz
Member, acting on behalf of Nefinsa S.A.
Juan José Nieto Bueso
Member, Independent Director
Luis Caruana Font de Mora
Member, Independent Director
Carmen del Río Novo
Secretary, non Director

16. Page nº 16
Follow us !
www.coemac.com
@coemac_sa
www.linkedin.com/company/coemac
www.pladur.com
www.algiss.com
www.adequa.es

17. Thank you for your attention