Conference Call - Results Presentation | 2Q11

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”

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Sales volume of chrysotile mineral grows of 6.6% compared with 2Q10

Growth of 15.7% sales volume of fiber cement

Concrete tiles segment rose 14.8% in 2Q11

Net consolidated revenue grows 13.2% and amounts to R$ 201.0 million

Investments in automation of production lines of Tegula

Recovery of EBITDA margins and Net margins when compared with 1Q11

Distribution of 85% of Net Income as dividends and interest on shareholders’

equity

Award for the Best Investor Relations for Individual Investors

Highlights – 2Q11

Corporate Profile

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The largest and most diversified industry in the roofcovering segment in Brazil

6

Supply Chain

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Other Segments

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1) Anápolis/GO; 2) Colombo/PR; 3) Goiânia/GO; 4) Rio de Janeiro/RJ; 5) Simões Filho/BA; and 6) São Paulo/SP.

Commercial Branches

Plants Location – Fiber cement / Mining

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Plants Location – Concrete tiles

SAMA - Overview

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Global Market – Chrysotile Mineral

Global Consumption (MM of Ton)

2010

2.2

2008

2.4

2007

2.4

2006

2.3

2005

2.3

2004

2.1

2009

2.1

Canada 6%

Russia – 48%

Kazakhstan – 10%

China – 22%

Brazil 14%

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155

136

291

143

163

306

34

41

75

37

42

79

67

78

145

64

85

149

2009 2010 2Q10 2Q11 1H10 1H11

Sales of Chrysotile Mineral (thous. tons)

Domestic Market Foreign Market

5.3%

2.3%

6.6%

Eternit - Overview

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Water tanks and filters

Constructions systems and Accessories

Roof coverings

Bathroom chinaware fixtures

Products and solutions for civil construction

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731

827

182210

389 413

2009 2010 2Q10 2Q11 1H10 1H11

Sales of Fiber Cement* (thous. tons)

* Includes components for constructions systems

13.2%

6.0%

15.7%

Tégula - Overview

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Main Products – Roof coverings

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Full Roofing Solution

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1,3001,493

477

1,887

2,364

2,801

2Q10 2Q11 1H10* 1H11

Concrete Tiles

*Tégula was acquired on February 11 2010. The amount of 587 thousand m2 refers to Eternit.

18.5%

14.8%

Sales (thousand m²) Capacity Utilization

72%

82%

2Q10 2Q11

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Tégula

Operating and Financial Aspects 2Q11 2Q10 % Chg.

Sales - Tiles (in m2) 1,493 thousand 1,300 thousand 15%

Net Operating Revenue R$ 22,169 thousand R$ 19,004 thousand 17%

Gross Profit R$ 7,180 thousand R$ 6,527 thousand 10%

Gross Margin 32% 34% -2 p.p.

EBITDA R$ 2,345 thousand R$ 3,024 thousand - 22%

EBITDA Margin 11% 16% -4 p.p.

Net Income R$ 2,004 thousand R$ 1,736 thousand 15%

Net Margin 9% 9% -

Operating and Financial Aspects

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130

453

583

111

647

759

27

151

178

25

176

201

54

294

348

44

343

387

2009 2010 2Q10 2Q11 1H10 1H11

Consolidated Net Revenue (R$ million)

Domestic Market Foreign Market

30.2%

11.2%

13.2%

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Chrysotile Mineral30.5%

Others (*)2.4%

Fiber cement54.1%

Components Construction

Systems2.3%

Concrete tiles and

Accessories10.7% Chrysotile

Mineral27.3%

Others (*)5.0%

Fiber cement54.2%

Components Construction

Systems2.5%

Concrete tiles and

Accessories11.0%

Net Revenue Breakdown (R$ million)

2Q11

(*)Others: metallic roofing tiles, polyethylene water tanks, bathroom chinaware fixtures and water pipe filters

2Q10

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Depreciation7%

Workforce17%

Raw material3

51%

Energy4%

Other Costs21%

Raw material2

31%

Workforce48%

Depreciation4%

Energy8%

Other Costs9%

Workforce10%

Depreciation3%

Other Costs19%

Energy3%

Raw material1

65%

COGS Breakdown – 2Q11

1 - Cement (45%), Chrysotile Ore (43%) and others (12%)

3 - Cement (53%), sand (31%) and others (16%)

2 – Fuel, explosives, packaging, among others

Fiber Cement Chrysotile Mineral

Concrete Tiles

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123

145

36 31

7358

2009 2010 2Q10 2Q11 1H10 1H11

EBITDA (in R$ million)

17.1%

-19.5%

-13.1%

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73

102

24 21

4838

2009 2010 2Q10 2Q11 1H10 1H11

Net Income (in R$ million)

39.7%

-20.4%

-13.7%

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Margins

42% 43%46%

38% 38%

45%

38%

21%19% 20%

14%16%

21%

15%

13% 13% 14%

9% 10%

14%

10%

2009 2010 2Q10 1Q11 2Q11 1H10 1H11

Net MarginEBITDA MarginGross Margin

28

21

8

29

27

9

34

14

9

93

13

4

17

63211

21

34

4

59

12

52

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2009 2010 2Q10 2Q11 1H10 1H11

Investments Tégula Acquisition

Capacity Increase – TégulaMolds and New Business

Capacity Increase – Eternit

Investments (in R$ million)

Land Acquisitin – Ceará State

220.7%

-68.1%

-36.3%

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New Production Lines of Finished Products

Colombo - PR January/2009

Goiânia - GO April/2008

Simões Filho - BA October/2010

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Construction of the New Synthetic Marble Production

External Area Production Line Resin Silo

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35 km15 km

Linha Gás Natural

Cimenteira

Aquisição do Terreno para a Fábrica Multiprodutos - Ceará

Land of 400 000 m²

Corporate Governance and Capital Markets

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40

60

80

100

120

140

160

180

200

220

Dec-06 May-07 Oct-07 Mar-08 Aug-08 Jan-09 Jun-09 Nov-09 Apr-10 Sep-10 Feb-11 Jul-11

ETER3IBOVESPA

Eternit’s Shares Performance (Dec/06 - Jul/11)

Between 12/30/2006 to 07/31/2011, Eternit”s shares appreciated 46.7% and IBOVESPA appreciated 31.8%.

In the same period, including the payment of dividends and interest on own capital, Eternit’s shares appreciated 133.5%.

58,823

R$ 8.89

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59.7%

2.3%

7.8%

30.2%

Ownership Structure – Jul/11

Shareholding Structure Jul/11 Jul/10

Geração L. Par. F. I. A. 18.96% 19.41%

Luiz Barsi Filho 13.21% 12.53%

Victor Adler + VIC DTVM 8.50% 8.50%

Diretoria 1.68% 1.42%

Demais Conselheiros 0.07% 0.04%

Ações em Tesouraria 0.03% 0.03%

FREE-FLOAT 76.51%

Board of Directors Member Since

Sérgio Alexandre Melleiro (*) 1993Lírio Albino Parisotto (*) 2004

Victor Adler (*) 2005Élio A. Martins 2007

Luiz Barsi Filho (*) 2008Marcelo Munhoz Auricchio (*) 2011

Luis Terepins (*) 2011(*) Independent member

Consultive Council Member Since

Guilherme Affonso Ferreira 2011Mário Fleck 2011

Individual InvestorsCorporationsInvestors AbroadClubs. Funds and Foundations

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1,108975

841

2009 2010 2011(*)

6,6155,910

6,784

2009 2010 2011(*)

Ownership Structure

(*) Until July 2011

Number of shareholders Average Traded Volume (R$ thousand)

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Shareholder Remuneration

Net Income Dividends and Interest on own capital

2009

73

Net Income X Shareholders Remuneration (R$ million)

2010

55

72

102

2011*

(*) Until August 2011

60

2009

15.1%

2010

9.3%

2011*

5.6%38

Dividend Yield

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Quer ser sócio? / Wants to be a partner?

Eternit joined to Quer Ser Sócio? of

BM&FBOVESPA campaign

The campaign aims to achieve the goal of

winning 5 million of investors and make the

market more accessible to all Brazilians who want

to be partners in the growth of the country.

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The Company made available in June the online

version of the Annual Report 2010, which, through a

sustainable point of view, according to the Mission of

the Company, also offers its content for access, by

smartphones and IPAD.

Online version of the Annual Report 2010

This is another improvement of Eternit regarding

corporate level, in which its exellence is already

recognized by the market.

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Awards

•Best Investor Relations for Individual Investors: Eternit won the IR MAGAZINE BRAZIL AWARDS 2011 prize for the Best IR Program for Individual Investors in the small & mid-cap category (companies with billings of less than R$ 3 billion). The Company also received an honorable mention of "best progress in Investor Relations" in the small & mid-cap category from the same entity.

•Prêmio Ruy Othake: At the 18th Concept and Image of Industry Ranking awards in May 2010, Eternit was placed first inthe fiber cement roofing tiles category and third in the polyethylene water tanks category.

•Prêmio Great Place To Work: In May 2011, SAMA and Precon Goiás were elected “The Best Companies to work”.

Outlook

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Economic Figures

Minimum Wage (R$) Workforce (R$ million)

300380 415

465510 545

2005 2006 2007 2008 2009 2010 2011Source: BACEN

CAGR: 10.5%

350

303,028 321,163 338,501365,331 377,361

404,751

2005 2006 2007 2008 2009 UDM 2010*

CAGR: 5.96%

Source: IBGE * 2010 UDM from dec/09 to nov/10

Food Basic Basket SP x Minimum Wage (purchasing power)

151.0 180.0 200.0 240.0 260.0 300.0350.0 380.0 415.0

465.0510.0 545.0

119.5 128.6

239.5 228.2 265.2

158.7 164.8 172.2 183.4 182.1 214.6

79.2%71.4%

79.4%

68.7% 66.2%61.1%

52.0%56.5% 57.7%

49.1% 52.0%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011Minimum Wage (R$) Food Basic Basket in SP (R$) %Source: IBGE and DIEESE

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Credit Availability Unemployment Rate - BrazilGovernment, Industry, Housing, Rural, Commerce, Credit

Individuals (R$ billlion)1,703.81,677.61,613.8

1,528.91,451.91,410.3

1,227.3

936.0

dec/07 dec/08 dec/09 mar/10 jun/10 sep/10 nov/10 dec/10

8.6% 8.4%7.4%

6.8% 6.8%

5.3%

dec/05 dec/06 dec/07 dec/08 dec/09 dec/10

Growth of the Brazilian SavingsSource: BACEN Source: IBGE

233.0 238.0 240.0 245.0254.0 257.0 258.0 260.0 262.0 265.0 270.0

277.0 280,015.0%16.0% 16.0%

17.0% 18.0%19.0% 19.0% 20.0% 20.0% 20.0% 20.0% 20.0%

19.0%

aug/09 sep/09 oct/09 nov/09 dec/09 jan/10 feb/10 mar/10 apr/10 may/10 jun/10 jul/10 aug/10

R$ billlion (%) Chg YoYSource: BACEN

Economic Figures

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5.0 5.4

13.2

8.2 5.1

34.9

-6.3

-0.2

5.3

11.6

7.5

33.3

2007 2008 2009 2010 2011(E)

5.24.0

12.0

GDP and Gross Revenue Comparison (%)

GDP Construction GDP Brazil Eternit - Gross Revenues

(E) - Estimate - Source: BACEN. Gross revenue growth has been consolidated as of January to June 2011 vs. the same period of 2010. The Company does not inform guidance of future revenue.

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Structured Expansion and Diversification Program

INITIATIVES

- Creation of the Development and New Businesses Area

- Inclusion of metallic roofing on its portfolio

- Investment in new product lines of fiber cement

- Investment in machinery for new products on its plants

- Increase in SAMA’s production capacity

- Launches of new products

- Debut into chinaware bathroom fixtures

- Inorganic growth – Acquisitions

OBJECTIVE

Consolidate Eternit as a supplier of products and solutions to the civil construction industry

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For more information access: www.eternit.com.br

Launches - 2011

Bairro Nova Odebrecht – Angra dos Reis/ RJ

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Mobile Exhibitor - Bathroom Chinaware

Fiat Doblô cars equipped with bathroom chinaware and lavatory seats exhibitors

Chrysotile – The Brazilian Mineral

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Chrysotile – The Brazilian Ore

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).

Serpentinite rock with Chrysotile Ore fibers

White Ore

Bends and silky fibers without tip

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.

High Concentration of Magnesium:3MgOSiO2H2O

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Brazil concludes important research about chrysotile ore risks

Project Asbesto Ambiental“Ambiental Exposition to Asbesto: Evaluation of Risk and Effects in Health”

Process CNPq n. 420001/2006-9

The results of the research were announced on November 25 2010 and demonstrates that:

Among the householders surveyed, no clinical, respiratory functional and high resolution tomographic alterations were found that could beattributed to atmospheric asbestos fiber inhalation.

In the occupational assessment, no new alterations were identified or progression in pleural and interstitial deterioration of individuals in the sample Group exposed after 1980 and who underwent High Resolution Computed Tomography scans in the two studies.

The full version of this research can be found in www.sectec.go.gov.br.

Corporate and Environmental Management

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Corporate Management

Launch ................... November 2004

Purpose .................

Contribute to society’s better understanding of the mining and processing of Chrysotile Ore and the manufacture of fiber cement products in a sustainable manner.

Location ........... Five production plants of Eternit and the SAMA mining company

Visitors ............... More than 46,000 until June 2011

Target ................... All society

Open Doors Program

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Environment Focused Management

Quelônios Project - Animal Conservation Area

The only breeding program of Amazon turtles in Brazil and Reintegration of Wild Animal Nature in partnership with IBAMA

Zero Reject Monitoring Air Quality Water Reuse Reforestation Work

Seedling Nursery

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Social Actions

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Information

Élio A. Martinselio.martins@eternit.com.br

Rodrigo Lopes da Luz

rodrigo.luz@eternit.com.br

Phone: (55-11) 3813-6034 or (55-11) 3038-3818

IR ConsultantSilvia Helena Madi Pinheiro

silvia.pinheiro@firb.com

Tel: (55-11) 3500-5564

Bárbara M. Tanure Gonçalves

barbara.goncalves@eternit.com.br

or www.blogdaeternit.com.brwww.eternit.com.br/ir

This material was produced using FSC certified paper (Forest Stewardship Council), which is a guarantee that the raw materialcomes from a forest managed in an environmentally responsible, socially and economically viable.