1
INVESTOR PRESENTATION
OCTOBER 2013
Exhibit 99.1

Investor Presentation
2
DISCLAIMER
This Investor Presentation contains forward-looking statements. James Hardie may from time to time make forward-looking statements in its periodic reports filed with or furnished to the SEC, on Forms 20-F
and 6-K, in its annual reports to shareholders, in offering circulars, invitation memoranda and prospectuses, in media releases and other written materials and in oral statements made by the company’s
officers, directors or employees to analysts, institutional investors, existing and potential lenders, representatives of the media and others. Statements that are not historical facts are forward-looking
statements and such forward-looking statements are statements made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995.
Examples of forward-looking statements include:
•
statements about the company’s future performance;
•
projections of the company’s results of operations or financial condition;
•
statements regarding the company’s plans, objectives or goals, including those relating to strategies, initiatives, competition, acquisitions, dispositions and/or its products;
•
expectations concerning the costs associated with the suspension or closure of operations at any of the company’s plants and future plans with respect to any such plants;
•
expectations regarding the extension or renewal of the company’s credit facilities including changes to terms, covenants or ratios;
•
expectations concerning dividend payments and share buy-backs;
•
statements concerning the company’s corporate and tax domiciles and structures and potential changes to them, including potential tax charges;
•
statements regarding tax liabilities and related audits, reviews and proceedings;
•
statements as to the possible consequences of proceedings brought against the company and certain of its former directors and officers by the Australian Securities and Investments
Commission (ASIC);
•
statements regarding the possible consequences and/or potential outcome of the legal proceedings brought against two of the company’s subsidiaries by the New Zealand Ministry of
Education and the potential product liabilities, if any, associated with such proceedings;
•
expectations about the timing and amount of contributions to Asbestos Injuries Compensation Fund (AICF), a special purpose fund for the compensation of proven Australian asbestos-
related personal injury and death claims;
•
expectations concerning indemnification obligations;
•
expectations concerning the adequacy of the company’s warranty provisions and estimates for future warranty-related costs;
•
statements regarding the company’s ability to manage legal and regulatory matters (including but not limited to product liability, environmental, intellectual property and competition law
matters) and to resolve any such pending legal and regulatory matters within current estimates and in anticipation of certain third-party recoveries; and
•
statements about economic conditions, such as change in the US economic or housing recovery, the levels of new home construction and home renovations, unemployment levels, changes
in consumer income, changes or stability in housing values, the availability of mortgages and other financing, mortgage and other interest rates, housing affordability and supply, the levels of
foreclosures and home resales, currency exchange rates, and builder and consumer confidence. 
Words such as “believe,” “anticipate,” “plan,” “expect,” “intend,” “target,” “estimate,” “project,” “predict,” “forecast,” “guideline,” “aim,” “will,” “should,” “likely,” “continue,” “may,” “objective,” “outlook” and similar
expressions are intended to identify forward-looking statements but are not the exclusive means of identifying such statements. Readers are cautioned not to place undue reliance on these forward-looking
statements and all such forward-looking statements are qualified in their entirety by reference to the following cautionary statements.
Forward-looking statements are based on the company’s current expectations, estimates and assumptions and because forward-looking statements address future results, events and conditions, they, by their
very nature, involve inherent risks and uncertainties, many of which are unforeseeable and beyond the company’s control. Such known and unknown risks, uncertainties and other factors may cause actual
results, performance or other achievements to differ materially from the anticipated results, performance or achievements expressed, projected or implied by these forward-looking statements. These factors,
some of which are discussed under “Risk Factors” in Section 3 of the Form 20-F filed with the Securities and Exchange Commission on 27 June 2013, include, but are not limited to: all matters relating to or
arising out of the prior manufacture of products that contained asbestos by current and former James Hardie subsidiaries; required contributions to AICF, any shortfall in AICF and the effect of currency
exchange rate movements on the amount recorded in the company’s financial statements as an asbestos liability; governmental loan facility to AICF; compliance with and changes in tax laws and treatments;
competition and product pricing in the markets in which the company operates; the consequences of product failures or defects; exposure to environmental, asbestos, putative consumer class action or other
legal proceedings; general economic and market conditions; the supply and cost of raw materials; possible increases in competition and the potential that competitors could copy the company’s products;
reliance on a small number of customers; a customer’s inability to pay; compliance with and changes in environmental and health and safety laws; risks of conducting business internationally; compliance with
and changes in laws and regulations; the effect of the transfer of the company’s corporate domicile from The Netherlands to Ireland, including changes in corporate governance and potential tax benefits;
currency exchange risks; dependence on customer preference and the concentration of the company’s customer base on large format retail customers, distributors and dealers; dependence on residential and
commercial construction markets; the effect of adverse changes in climate or weather patterns; possible inability to renew credit facilities on terms favourable to the company, or at all; acquisition or sale of
businesses and business segments; changes in the company’s key management personnel; inherent limitations on internal controls; use of accounting estimates; and all other risks identified in the company’s
reports filed with Australian, Irish and US securities agencies and exchanges (as appropriate). The company cautions you that the foregoing list of factors is not exhaustive and that other risks and
uncertainties may cause actual results to differ materially from those in forward-looking statements. Forward-looking statements speak only as of the date they are made and are statements of the company’s
current expectations concerning future results, events and conditions. The company assumes no obligation to update any forward-looking statements or information except as required by law.

Investor Presentation
3
AGENDA
In this Investor Presentation, James Hardie may present financial measures, sales volume terms, financial ratios, and Non-US GAAP financial measures included in the Definitions
section of this document starting on page 39. The company presents financial measures that it believes are customarily used by its Australian investors. Specifically, these financial
measures, which are equivalent to or derived from certain US GAAP measures as explained in the definitions, include “EBIT”, “EBIT margin”, “Operating profit before income taxes”
and “Net operating profit”. The company may also present other terms for measuring its sales volumes (“million square feet” or “mmsf” and “thousand square feet” or “msf”);
financial ratios (“Gearing ratio”, “Net interest expense cover”, “Net interest paid cover”, “Net debt payback”, “Net debt (cash)”); and Non-US GAAP financial measures (“EBIT
excluding asbestos, ASIC expenses and New Zealand product liability expenses”, “EBIT margin excluding asbestos, ASIC expenses and New Zealand product liability expenses”,
“Net operating profit excluding asbestos, ASIC expenses, New Zealand product liability expenses and tax adjustments”, “Diluted earnings per share excluding asbestos, ASIC
expenses, New Zealand product liability expenses and tax adjustments”, “Operating profit before income taxes excluding asbestos and New Zealand product liability expenses”,
“Effective tax rate on earnings excluding asbestos, New Zealand product liability expenses and tax adjustments”, “Adjusted EBITDA”, “General corporate costs excluding ASIC
expenses and intercompany foreign exchange gain” and “Selling, general and administrative expenses excluding New Zealand product liability expenses”). Unless otherwise
stated, results and comparisons are of the 1st quarter of the current fiscal year versus the 1st quarter of the prior fiscal year.
•
Business Overview
•
USA & Europe Fibre Cement
•
Asia Pacific Fibre Cement
•
Group Outlook
•
Summary
•
Appendix

Investor Presentation
Annual net sales US$1.5b
Total assets US$1.3b
Net cash US$198m
Operations in North America, Asia Pacific and Europe
2,700 employees
Market cap US$4.1b
S&P/ASX 100 company
NYSE ADR listing   
Note:
Market
capitalization,
total
assets
and
net
cash
are
as
at
30
June
2013.
Annual
net
sales
equal
Q1
FY14
net
sales
annualised.
Total
assets
exclude asbestos compensation
4
JHX: A GROWTH FOCUSED COMPANY

Investor Presentation
1
Comparisons
are
of
the
1
quarter
FY14
and
full
fiscal
year
as
at
31
March
2013
versus
the
1  quarter
FY13
and
full
fiscal
year
as
at
31
March
2012
2
Includes $485.2m tax benefit arising on conclusion of RCI’s disputed amended assessment with the Australian Taxation Office
1
US Millions
Q1
FY2014
Q1
FY2013
%
Change
FY2013
FY2012
%
Change
Net Operating Profit
142.2
68.5
-
45.5
604.3
2
(92)
Net operating profit excluding
asbestos, asset impairments, ASIC
expenses, New Zealand product
liability expenses and tax
adjustments
52.0
43.8
19
140.8
144.3
(2)
GROUP OVERVIEW
1
5
st
st

Investor Presentation
USA Fibre Cement Products
Siding
Soffit
Fascia
Trim
Backerboard
Asia Pacific Fibre Cement Products
Residential siding
Commercial exteriors
Flooring
Ceilings and internal walls
6
JHX: A WORLD LEADER IN FIBRE CEMENT

Investor Presentation
19%
Volume
75%
74%
26%
EBIT*
USA  and Europe Fibre Cement
Asia-Pacific Fibre Cement
1
All numbers are for the 1st quarter ended 30 June 2013
*EBIT –
Excludes Research and Development EBIT, Asbestos-related items, Asset impairment charges, New Zealand product liability
expenses and general corporate costs
7
GLOBAL BUSINESS PORTFOLIO
Net Sales
1
81%
25%

Investor Presentation
Fibre cement is more durable than wood and engineered wood, looks and performs
better than vinyl, and is more cost effective and quicker to build with than brick
Fibre
Cement
Vinyl
Engineered
Wood
Fire resistant
Hail resistant
Resists warping
Resists buckling
Colour lasts longer
Dimensional stability
Can be repainted
8
FIBRE CEMENT:
SUPERIOR PRODUCT PERFORMANCE

Investor Presentation
•
7
th
Generation versus 2
nd
Generation generic fibre cement
•
The HardieZone™
System represents a logical extension of Hardie technology
9
PRODUCT LEADERSHIP EXAMPLE:
HARDIEZONE™
SYSTEM

Investor Presentation
10
THE USA BUSINESS: LARGEST FIBRE
CEMENT PRODUCER IN NORTH AMERICA

Investor Presentation
Rolling 12 month average of seasonally adjusted estimate of housing starts by US Census Bureau
Market and category share tracking as planned in FY14
11
USA FIBRE CEMENT
'00
'01
'02
'03
'04
'05
'06
'07
'08
'09
'10
11
12
13
Top Line Growth
JH Volume
Housing Starts
JH Revenue

Investor Presentation
12
1
Excludes
asset
impairment
charges
of
US$14.3
million
in
4
th
quarter
FY12,
US$5.8
million
in
3
quarter
FY13
and
US$11.1
million
in
4
quarter FY13
USA AND EUROPE FIBRE CEMENT
rd
th

Investor Presentation
13
USA AND EUROPE FIBRE CEMENT

Investor Presentation
14
TOTAL US HOUSING STARTS
U.S. Housing Starts
Calendar Quarters

Investor Presentation
Five manufacturing plants in Asia
Pacific
Net sales US$376m
EBIT US$84m
Higher value differentiated products
Lower delivered cost
Growth model
Asia Pacific manufacturing facilities
Net
Sales
and
EBIT
equal
Q1
FY14
annualised.
EBIT
excludes
New
Zealand
product
liability
expenses
15
1
1
1
ASIA PACIFIC FIBRE CEMENT

Ceilings and partitions
Philippines
Exterior cladding
Australia
General purpose flooring
Australia
New Zealand
Interior walls
16
ASIA PACIFIC FIBRE CEMENT -
EXAMPLES
Investor Presentation

Investor Presentation
•
The company announced in November 2012 a dividend payout ratio of between 30% and 50% of net operating
profit (excluding asbestos adjustments) from FY14 onwards
•
The company also announced on 23 May 2013:
•
A new share buyback program to acquire up to 5% of issued capital over the next 12 months. The actual shares
that the company may buyback will be subject to share price levels, consideration of the effect of the share buyback
on return on equity, and capital requirements
•
On 31 July 2013, the company repurchased 221,000 shares of its common stock, at cost of A$2.0 million (US$1.8
million), at an average market price of A$9.02 (US$8.20)
•
If and to the extent the company does not undertake further share buybacks during FY14, the company will
consider further distributions to shareholders over and above those contemplated under the company’s dividend
policy subject to:
•
an
assessment
of
the
current
and
expected
industry
conditions
in
the
group’s
major
markets
of
the
US
and
Australia
•
an assessment of the group’s capital requirements, especially for funding of expansion and growth initiatives
•
global economic conditions and outlook, and
•
total net operating profit (excluding asbestos adjustments) for financial year 2014
17
FUTURE SHAREHOLDER RETURNS

18
USA and Europe Fibre Cement
•
The US operating environment continues to reflect an increasing number of housing starts and
improving house values
•
Pick-up in repair and remodelling activity becoming apparent
•
The company is continuing with its plan to invest in capacity expansions through
re-commissioning of idled facilities in future periods
•
The USA business is tracking to deliver a +20% FY14 EBIT margin
Asia Pacific Fibre Cement
•
In Australia, the addressable market is likely to remain relatively subdued in FY14
•
In New Zealand, the housing market continues to improve
•
In the Philippines, the business is experiencing growth in its core market segments and is
expected to deliver consistent earnings over the next 12 months
GROUP OUTLOOK

Investor
Presentation
We have a strong, well-established, growth-focused, strong cash-generating and high return
business
We have a sustainable competitive advantage
Our model for strong growth is based on:
Large market opportunity
Superior value proposition
Proprietary and/or protected technology
Ongoing commitment to research and development
Significant organisational advantages
Focused strategy and organisational effort
Scale
Throughout the low demand environment the company has performed exceptionally well,
consistently delivering solid financial returns
The company is on track to leverage its increased capabilities as the US housing market
recovery progresses
19
SUMMARY

20
APPENDIX

Investor Presentation
Industry leadership and profitable growth
Aggressively grow demand for
our products in targeted market
segments
Grow our overall market position
while defending our share in
existing market segments
Introduce differentiated products
to deliver a sustainable
competitive advantage
21
GLOBAL STRATEGY

Investor
Presentation
22
KEY RATIOS

Investor Presentation
FY09
FY10
FY11
FY12
FY13
Net Sales
US$m
929
828
814
862
951
Sales Volume
mmsf
1,527
1,304
1,248
1,332
1,489
Average Price
US$ per msf
609
635
652
647
639
EBIT US$m
199
209
160
163
163
EBIT Margin %
21
25
20
19
17
23
1
1
Excludes
asset
impairment
charges
of
US$14.3
million
and
US$16.9
million
in
FY12
and
FY13,
respectively
1
USA AND EUROPE FIBRE CEMENT           
5 YEAR RESULTS OVERVIEW

Investor Presentation
FY09
FY10
FY11
FY12
FY13
Net Sales
US$m
273
297
353
376
370
Sales Volume
mmsf
391
390
408
392
394
Average Price
US$ per msf
879
894
916
916
911
EBIT US$m
47
59
79
86
75
EBIT Margin %
17
20
23
23
20
24
1
Excludes New Zealand product liability expenses of US$5.4 million and US$13.2 million in FY12 and FY13, respectively
1
ASIA PACIFIC FIBRE CEMENT
5 YEAR RESULTS OVERVIEW

Investor Presentation
25
1
Asia Pacific Fibre Cement EBIT excludes New Zealand product liability expenses of US$4.6 million and nil in Q1 ‘14 and Q1 ‘13, respectively
FINANCIAL SUMMARY
US$ Millions
% Change
Net Sales
USA and Europe Fibre Cement
278.1
$  
252.0
$   
10
Asia Pacific Fibre Cement
94.1
87.7
7
Total Net Sales
372.2
$  
339.7
$   
10
EBIT -
US$ Millions
USA and Europe Fibre Cement
59.4
$    
50.3
$    
18
Asia Pacific Fibre Cement
21.1
17.7
19
Research & Development
(6.1)
(6.0)
(2)
General corporate costs excluding
asbestos and ASIC
(6.9)
(4.3)
(60)
Total EBIT excluding asbestos, ASIC
expenses and New Zealand product
liability expenses
67.5
$    
57.7
$    
17
Net interest expense excluding AICF
interest income
(1.0)
(0.9)
(11)
Other income
0.1
0.4
(75)
Income tax expense excluding tax
adjustments
(14.6)
(13.4)
(9)
Net operating profit excluding
asbestos, ASIC expenses, New
Zealand product liability expenses
and tax adjustments
52.0
$    
43.8
$    
19
Q1 '14
Q1 '13
1

This Management Presentation forms part of a package of information about the company’s results. It should be read in
conjunction with the other parts of this package, including the Management’s Analysis of Results, Media Release and
Consolidated Financial Statements
Definitions
Non-financial Terms
ABS
–
Australian Bureau of Statistics
AFFA
–
Amended and Restated Final Funding Agreement
AICF
–
Asbestos Injuries Compensation Fund Ltd
ASIC
–
Australian Securities and Investments Commission
ATO
–
Australian Taxation Office
NBSK –
Northern Bleached Soft Kraft; the company's benchmark grade of pulp
26
ENDNOTES

Financial Measures –
US GAAP equivalents
This document contains financial statement line item descriptions that are considered to be non-US GAAP, but are
consistent with those used by Australian companies. Because the company prepares its consolidated financial
statements under US GAAP, the following table cross-references each non-US GAAP line item description, as used in
Management’s Analysis of Results and Media Release, to the equivalent US GAAP financial statement line item
description used in the company’s consolidated financial statements:
27
Management's Analysis of Results and
Consolidated Statements of Operations
Media Release
and Other Comprehensive Income (Loss)
(US GAAP)
Net sales
Net sales
Cost of goods sold
Cost of goods sold
Gross profit
Gross profit
Selling, general and administrative expenses
Selling, general and administrative expenses
Research and development expenses
Research and development expenses
Asbestos adjustments
Asbestos adjustments
EBIT
*
Operating income (loss)
Net interest income (expense)*
Sum of interest expense and interest income
Other income (expense)
Other income (expense)
Operating profit (loss) before income taxes*
Income (loss) before income taxes
Income tax (expense) benefit
Income tax (expense) benefit
Net operating  profit (loss)*
Net income (loss)
*- Represents non-U.S. GAAP descriptions used by Australian companies.
ENDNOTES (CONTINUED)

EBIT margin
–
EBIT margin is defined as EBIT as a percentage of net sales.
Sales Volumes
mmsf
–
million
square
feet,
where
a
square
foot
is
defined
as
a
standard
square
foot
of
5/16”
thickness
msf
–
thousand
square
feet,
where
a
square
foot
is
defined
as
a
standard
square
foot
of
5/16”
thickness
Financial Ratios
Gearing
Ratio
–
Net
debt
(cash)
divided
by
net
debt
(cash)
plus
shareholders’
equity
Net interest expense cover
–
EBIT divided by net interest expense (excluding loan establishment fees)
Net
interest
paid
cover
–
EBIT
divided
by
cash
paid
during
the
period
for
interest,
net
of
amounts
capitalised
Net debt payback
–
Net debt (cash) divided by cash flow from operations
Net debt (cash)
–
Short-term and long-term debt less cash and cash equivalents
Return on Capital employed
–
EBIT divided by gross capital employed
28
ENDNOTES (CONTINUED)

EBIT and EBIT margin excluding asbestos, ASIC expenses and New Zealand product liability expenses
–
EBIT and
EBIT margin excluding asbestos, ASIC expenses and New Zealand product liability expenses are not measures of
financial performance
under
US
GAAP
and
should
not
be
considered
to
be
more
meaningful
than
EBIT
and
EBIT
margin.
Management has included these financial measures to provide investors with an alternative method for assessing its
operating results in a manner that is focussed on the performance of its ongoing operations and provides useful
information regarding its financial condition and results of operations. Management uses these non-US GAAP measures
for the same purposes
29
NON-US GAAP FINANCIAL MEASURES
Q1
Q1
US$ Millions
FY 2014
FY 2013
EBIT
$ 156.9
$ 82.5
Asbestos:
Asbestos adjustments
(94.5)
(25.2)
AICF SG&A expenses
0.5
0.3
ASIC expenses
-
0.1
New Zealand product liability expenses
4.6
-
EBIT excluding asbestos, ASIC expenses and
New Zealand product liability expenses
67.5
57.7
Net sales
$ 372.2
$ 339.7
EBIT margin excluding asbestos, ASIC expenses
and New Zealand product liability expenses
18.1%
17.0%

Net operating profit excluding asbestos, ASIC expenses, New Zealand product liability expenses and tax
adjustments
–
Net operating profit excluding asbestos, ASIC expenses, New Zealand product liability expenses and tax
adjustments is not a measure of financial performance under US GAAP and should not be considered to be more
meaningful than net operating profit. Management has included this financial measure to provide investors with an
alternative method for assessing its operating results in a manner that is focussed on the performance of its ongoing
operations. Management uses this non-US GAAP measure for the same purposes
30
NON-US GAAP FINANCIAL MEASURES (CONTINUED)
Q1
Q1
US$ Millions
FY 2014
FY 2013
Net operating profit
$ 142.2
$ 68.5
Asbestos:
Asbestos adjustments
(94.5)
(25.2)
AICF SG&A expenses
0.5
0.3
AICF interest income
(1.1)
(1.1)
ASIC expenses
-
0.1
New Zealand product liability expenses
4.6
-
Asbestos and other tax adjustments
0.3
1.2
Net operating profit excluding asbestos,
ASIC expenses, New Zealand product
Liability expenses and tax adjustments
$ 52.0
$ 43.8

Diluted earnings per share excluding asbestos, ASIC expenses, New Zealand product liability expenses and tax
adjustments
–
Diluted earnings per share excluding asbestos, ASIC expenses, New Zealand product liability expenses
and tax adjustments is not a measure of financial performance under US GAAP and should not be considered to be more
meaningful than diluted earnings per share. Management has included this financial measure to provide investors with an
alternative method for assessing its operating results in a manner that is focussed on the performance of its ongoing
operations. Management uses this non-US GAAP measure for the same purposes
31
NON-US GAAP FINANCIAL MEASURES (CONTINUED)
Q1
Q1
US$ Millions
FY 2014
FY 2013
Net operating profit excluding asbestos, ASIC
expenses, New Zealand product liability expenses
and tax adjustments
$ 52.0
$ 43.8
Weighted average common shares outstanding -
Diluted (millions)
443.1
438.5
Diluted earnings per share excluding asbestos, 
ASIC expenses, New Zealand product liability
expenses and tax adjustments (US cents)
11.7
10.0

Effective tax rate excluding asbestos, New Zealand product liability expenses and tax adjustments
–
Effective
tax rate on earnings excluding asbestos, New Zealand product liability expenses and tax adjustments is not a measure
of financial performance under US GAAP and should not be considered to be more meaningful than effective tax rate.
Management has included this financial measure to provide investors with an alternative method for assessing its
operating results in a manner that is focussed on the performance of its ongoing operations. Management uses this non-
US GAAP measure for the same purposes
32
NON-US GAAP FINANCIAL MEASURES (CONTINUED)
Q1
Q1
US$ Millions
FY 2014
FY 2013
Operating profit before income taxes
$ 157.1
$ 83.1
Asbestos:
Asbestos adjustments
(94.5)
(25.2)
AICF SG&A expenses
0.5
0.3
AICF interest income
(1.1)
(1.1)
New Zealand product liability expenses
4.6
-
Operating profit before income taxes excluding asbestos and New
Zealand product liability expenses
$ 66.6
$ 57.1
Income tax expense
(14.9)
(14.6)
Asbestos and other tax adjustments
0.3
1.2
Income tax expense excluding tax adjustments
(14.6)
(13.4)
Effective tax rate  
9.5%
17.6%
Effective tax rate excluding asbestos, New Zealand product liability
expenses and tax adjustments
21.9%
23.5%

Adjusted EBITDA
–
is not a measure of financial performance under US GAAP and should not be considered an
alternative
to,
or
more
meaningful
than,
income
from
operations,
net
income
or
cash
flows
as
defined
by
US
GAAP
or
as
a
measure of profitability or liquidity. Not all companies calculate Adjusted EBITDA in the same manner as James Hardie
has
and,
accordingly,
Adjusted
EBITDA
may
not
be
comparable
with
other
companies.
Management
has
included
information concerning Adjusted EBITDA because it believes that this data is commonly used by investors to evaluate the
ability of a company’s earnings from its core business operations to satisfy its debt, capital expenditure and working
capital requirements
33
NON-US GAAP FINANCIAL MEASURES (CONTINUED)
Q1
Q1
US$ Millions
FY 2014
FY 2013
EBIT
$ 156.9
$ 82.5
Depreciation and amortisation
15.4
15.4
Adjusted EBITDA
$ 172.3
$ 97.9

General corporate costs excluding ASIC expenses and intercompany
foreign exchange gain
–
General
corporate
costs
excluding
ASIC
expenses
and
intercompany
foreign
exchange
gain
is
not
a
measure
of
financial
performance under US GAAP and should not be considered to be more meaningful than general corporate costs.
Management has included these financial measures to provide investors with an alternative method for assessing its
operating results in a manner that is focussed on the performance of its ongoing operations and provides useful
information regarding its financial condition and results of operations. Management uses these non-US GAAP
measures for the same purposes
34
NON-US GAAP FINANCIAL MEASURES (CONTINUED)
Q1
Q1
US$ Millions
FY 2013
General corporate costs
$ 6.9
$ 4.4
Excluding:
ASIC expenses
-
(0.1)
Intercompany foreign exchange gain
-
5.5
General corporate costs excluding ASIC
expenses and intercompany foreign
exchange gain
$ 6.9
$ 9.8
FY 2014

Selling,
general
and
administrative
expenses
excluding
New
Zealand
product
liability
expenses
–
Selling,
general and administrative expenses excluding New Zealand product liability expenses is not a measure of financial
performance under US GAAP and should not be considered to be more meaningful than selling, general and
administrative
expenses.
Management
has
included
these
financial
measures
to
provide
investors
with
an
alternative
method for assessing its operating results in a manner that is focussed on the performance of its ongoing operations
and provides useful information regarding its financial condition and results of operations. Management uses these non-
US GAAP measures for the same purposes
35
NON-US GAAP FINANCIAL MEASURES (CONTINUED)
Q1
Q1
US$ Millions
FY 2013
Selling, general and administrative expenses
$ 54.9
$ 44.3
Excluding:
New Zealand product liability expenses
(4.6)
-
Selling, general and administrative expenses
excluding New Zealand product liability expenses
$ 50.3
$ 44.3
Net Sales
$ 372.2
$ 339.7
Selling, general and administrative expenses as a
percentage of net sales
14.8%
13.0%
Selling, general and administrative expenses
excluding New Zealand product liability expenses as
a percentage of net sales
13.5%
13.0%
FY 2014

36
INVESTOR PRESENTATION
OCTOBER 2013