Exhibit 99.2

PAGE

DISCLAIMER

This

Investor

Presentation

contains

forward-looking

statements.

James

Hardie

Industries

plc

(“James

Hardie”

the

“company”)

may

from

time

make forward-looking statements in its periodic reports filed with or furnished to the Securities and Exchange Commission, 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

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 concerning the costs associated with the significant capital expenditure projects at any of the company’s plants and future plans with

respect to any such projects;

•

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;

•

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 changes in the US economic or housing recovery or changes in the market conditions in the Asia

Pacific region, 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.

DISCLAIMER (continued)

Words

such

“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 26 June 2014, 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 any potential tax benefits related thereto; 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

referenced in the company’s 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.

PAGE

AGENDA

•

Global Strategy and Business Overview

•

USA & Europe Fiber Cement

•

Asia Pacific Fiber Cement

•

Capital Management Framework

•

Group Outlook and Guidance

•

Appendix

PAGE

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. 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 volume (“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 (“Adjusted

EBIT”, “Adjusted EBIT margin”, “Adjusted net operating profit”, “Adjusted diluted earnings per share”, “Adjusted operating profit before income

taxes” and “Adjusted effective tax rate on earnings”. Unless otherwise stated, results and comparisons are of the third quarter and nine months of

the current fiscal year versus the third quarter and nine months of the prior fiscal year.

PAGE

•

Group

net

sales

increased

10%

and

11%

for

the

quarter

and

nine

months,

respectively,

compared

pcp

•

Group adjusted

net

operating profit

increased

11%

for

the

quarter

and

for

the

nine

months

compared

pcp

•

Higher

volumes

across

our

USA

and

Europe

and

Asia

Pacific

Fiber

Cement

segments

•

Higher

net

sales

price

across

our

USA

Fiber

Cement

segment

•

We are yet to see the anticipated accelerated growth in the US residential housing market

•

Continuing to invest in high-return organic growth by:

•

Investing in capacity expansion across our US and Australian businesses

•

Investing in organizational capability

•

continue

expect

our

full

year

USA

and

Europe

Fiber

Cement

segment

EBIT

margin

remain

within our target range of 20% to 25%

KEY THEMES

Prior corresponding period(s)

PAGE

FINANCIAL MANAGEMENT SUPPORTING GROWTH

Strong Financial

Management

Disciplined Capital

Allocation

Liquidity and

Funding

Strong margins and

operating cash flows

Strong governance and

transparency

Investment-grade

financial management

Investing in R&D and capacity

expansion to support organic

growth

Maintain ordinary dividends

within the defined payout ratio

Flexibility for:

•

Accretive and strategic

inorganic opportunities

•

Withstand market cycles

•

Consider further

shareholder returns

when appropriate

~$590 million of bank

facilities, 44% liquidity as

of Q3’15

2.7 year weighted average

debt maturity

Completed the sale of

US$325 million 8 year

5.875% senior unsecured

notes

Conservative leveraging of

balance sheet within 1-2

times adjusted EBITDA

target

Financial management consistent with an investment grade credit.

Ability to withstand market cycles and other unanticipated events.

USA and Europe Fiber Cement Outlook

•

The Company expects our performance in the fourth quarter of fiscal 2015 to be consistent with our

results for the first nine months of fiscal 2015

•

However, there is uncertainty due to the continued variability in the short term economic outlook,

housing activity and changes in the prices of our raw material inputs

Asia Pacific Fiber Cement Outlook

•

Our expectation is that net sales across our Asia Pacific businesses will continue to deliver improved

results in line with growth in the local housing markets of the regions in which we operate

FY2015 Guidance

•

Management

expects

full

year

Adjusted

net

operating

profit

between

US$210

million

and

US$222

million

assuming,

among

other

things,

housing

industry

conditions

the

United

States

continuing

improve

and

that

exchange

rate

near

current

levels

applicable

for

the

remainder

of the fiscal year

FY2015 OUTLOOK AND GUIDANCE

Management is unable to forecast the comparable US GAAP financial measure due to uncertainty regarding the impact of actuarial estimates on

asbestos-related assets and liabilities in future periods

PAGE

PAGE

FY10

FY11

FY12

FY13

FY14

Net Sales

US$m

828

814

862

951

1,128

Sales Volume

mmsf

1,304

1,248

1,332

1,489

1,697

Average Price

US$ per msf ²

632

648

642

626

652

EBIT US$m¹

209

160

163

237

EBIT Margin %¹

Excludes

asset

impairment

charges

US$14.3

million

and

US$16.9

million

FY12

and

FY13,

respectively

During the second quarter of FY14, the company refined its methodology for calculating average net sales price in both the USA and Europe and Asia Pacific Fiber

Cement segments to exclude ancillary products that have no impact on fiber cement sales volume, which is measured and reported in million square feet (“mmsf”).

As the revenue contribution of these ancillary products been increasing, the company believes the refined methodology provides an improved disclosure of average

net sales price, in line with the company’s primary fibre cement business, which is a key segment performance indicator. The company has restated average net

sales price in the prior periods to conform with the current calculation of average net sales price.

USA

AND

EUROPE

FIBER

CEMENT

–

YEAR

RESULTS

OVERVIEW

PAGE

Excludes New Zealand product liability expenses of US$5.4 million , US$13.2 million and US$1.8 million in FY12, FY13 and FY14, respectively

During the second quarter of FY14, the company refined its methodology for calculating average net sales price in both the USA and Europe and Asia Pacific Fiber

Cement segments to exclude ancillary products that have no impact on fiber cement sales volume, which is measured and reported in million square feet (“mmsf”). As

the revenue contribution of these ancillary products has been increasing, the company believes the refined methodology provides an improved disclosure of average

net sales price, in line with the company’s primary fiber cement business, which is a key segment performance indicator. The company has restated average net

sales price in the prior periods to conform with the current calculation of average net sales price.

FY10

FY11

FY12

FY13

FY14

Net Sales

US$m

297

353

376

370

366

Sales Volume

mmsf

390

408

392

394

417

Average Price

A$ per msf ²

886

906

901

930

EBIT US$m¹

EBIT Margin %¹

ASIA PACIFIC FIBER CEMENT –

5 YEAR RESULTS OVERVIEW

PAGE

Summary

Net sales increased 10%, favorably impacted by:

RESULTS FOR THE 3

QUARTER

US$ Millions

Q3 '15

Q3 '14

% Change

Net sales

388.4

353.2

Gross profit

135.2

121.5

SG&A expenses

(56.0)

(53.8)

(4)

Research & development expenses

(7.7)

(8.7)

Asbestos adjustments

54.9

35.8

EBIT

126.4

94.8

Net interest expense

(1.5)

(0.4)

Other income

(0.2)

1.2

Income tax expense

(17.2)

(3.4)

Net operating profit

107.5

92.2

Three Months Ended 31 December

•

Higher sales volumes; and

•

Higher average net sales price in the USA and Europe Fiber

Cement segment

•

Higher average net sales price in the USA and Europe Fiber

Cement segment

•

Partially offset primarily by higher market prices for raw materials

•

Higher compensation and discretionary expenses

•

Higher realized losses on foreign currency transactions

caused by the strengthening of the US dollar

•

Interest expense increased related to our debt position

•

Income tax expense increased on account of higher earnings

and a non-recurring favorable tax adjustment of US$10.7

million in the

prior

period

relating

final

receipt

from

the

ATO

Between EBIT and net operating profit:

SG&A expenses increased primarily due to:

Gross profit margin increased 40 bps impacted by:

PAGE

Includes Asbestos adjustments, AICF SG&A expenses and AICF interest expense, net

2 Excludes tax effects of Asbestos related adjustments New Zealand weathertightness and other tax adjustments

•

23.6% estimated adjusted effective tax rate (ETR) for

the year

•

Adjusted income tax expense and adjusted ETR

increased due to changes in geographical mix of

earnings

•

The difference between adjusted income tax expense

and income tax expense decreased primarily due to a

non-recurring receipt from the ATO, relating to

finalization of a disputed amended assessment, in the

previous period

•

Income taxes are paid and payable in Ireland, the

U.S., Canada, New Zealand and the Philippines

•

Income taxes are not currently paid or payable in

Europe (excluding Ireland) or Australia due to tax

losses. Australian tax losses primarily result from

deductions relating to contributions to AICF

INCOME TAX

Q3’15

Q3’14

9 Months

FY15

9 Months

FY14

Operating profit before taxes

124.7

95.6

315.0

320.2

Asbestos:

Asbestos adjustment

(54.8)

(36.0)

(96.0)

(127.2)

NZ weathertightness claims

(5.2)

(4.2)

0.7

Adjusted net operating profit

before taxes

64.7

55.4

214.8

193.7

Adjusted

income

tax

expense

(16.1)

(11.7)

(50.7)

(41.7)

Adjusted effective tax rate

24.9%

21.1%

23.6%

21.5%

Income tax expense

(17.2)

(3.4)

(51.4)

(33.9)

Income taxes paid

24.2

16.0

Income taxes payable

3.3

4.7

Three and Nine Months ended 31 December

PAGE

CASHFLOW

•

Adjusted EBIT increased US$27.8 million

compared to pcp

•

Cash flow from operations includes US$113.0

million contribution to AICF paid in 2Q15

•

Higher use of working capital primarily driven

by inventory:

•

Raw materials

•

Inventory at the Fontana plant

commissioned during nine month FY15

•

Traditional seasonality

•

Capital expenditure includes plant capacity

expansions and land purchases at Tacoma

and Rosehill facilities

•

US$390 million gross debt position as of

Q3’15

Includes Asbestos Adjustments and changes in asbestos-related assets and liabilities

Annual AICF contribution

(113.0)

Depreciation & Amortization

52.0

46.2

Working Capital

4.7

31.1

(85)

Other non-cash items

(8.4)

20.6

Cash Flow from Operations

104.1

254.7

(59)

Capital Expenditures

(241.0)

(67.9)

Acquisition of a business

(4.1)

Free Cash Flow

(136.9)

182.7

Dividends Paid

(355.9)

(163.6)

Net proceeds from long-term debt

390.0

Share related activities

(5.6)

11.1

(US$ Millions)

9 Months FY

2015

9 Months FY

2014

Change (%)

EBIT

263.6

286.3

(8)

(94.8)

(129.5)

(27)

Asbestos related

(108.4)

30.2

Free Cash Flow after Financing Activities

PAGE

US INPUT COSTS

Discussion:

•

Input costs are up significantly over the

prior year, and beginning to flatten out or

decrease

•

The price of NBSK pulp remains near a

three-year peak

•

The cost of gas and electric for industrial

users decreased to slightly above its

historical four year average

•

We are engaged in effective sourcing

strategies to reduce the impact of increasing

market prices

The information underlying the table above is sourced as follows:

•

Pulp

–

Cost

per

ton

–

from

RISI

•

Gas

–

Cost

per

thousand

cubic

feet

for

industrial

users

–

from

Energy

Information

Administration

•

Electric

–

Cost

per

thousand

kilowatt

hour

for

industrial

users

–

from

Energy

Information

Administration

•

Cement

–

Relative

index

from

the

Bureau

Labor

Statistics

Quarterly US Input Costs

ASBESTOS FUND –

PROFORMA (unaudited)

Claims Data

•

For the quarter and nine months ended 31 December 2014,

we note the following related to asbestos claims:

•

Claims received during both Q3’15 and nine months

were 11% above actuarial estimates

•

Claims received during Q3’15 and nine months were

10% and 7% higher than the pcp, respectively

•

The higher reported mesothelioma claims experience

noted during FY’14 has continued for the nine months

ending 31 December 2014

•

Average claim settlement for the nine months is down

5% versus the pcp and down 15% versus actuarial

estimates. Average claim settlement sizes are generally

lower across all disease types compared to actuarial

expectations for fiscal 2015

•

Actual dollars paid in compensation was 1% above the

pro-rated nine month actuarial estimate

PAGE

AICF cash and investments -

31 March 2014

65.5

Contribution to AFFA by James Hardie

119.9

Insurance recoveries

27.8

Loan Repayments

(51.0)

Interest income, net

1.2

Claims paid

(112.9)

Operating costs

(3.4)

Other

1.7

AICF

cash

and

investments

December

2014

48.8

A$ millions

DEFINITIONS AND OTHER TERMS

This Investor 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

Legacy

New

Zealand

weathertightness

claims

(“New

Zealand

weathertightness

claims”)

–

Expenses

arising

from

defending and resolving claims in New Zealand that allege poor building design, inadequate certification of plans, inadequate

construction review and compliance certification and deficient work by sub-contractors.

PAGE

PAGE

DEFINITIONS AND OTHER TERMS

Financial Measures –

US GAAP equivalents

This Investor Presentation 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 Condensed Consolidated Financial

Statements under US GAAP, the following table cross-references each non-US GAAP line item description, as used in

Management’s

Analysis

Results

and

Media

Release

for

the

quarter

and

nine

months

ended

December

2014,

the

equivalent US GAAP financial statement line item description used in the company’s Condensed Consolidated Financial

Statements:

Management's Analysis of Results and

Consolidated Statements of Operations

Media Release

and Other Comprehensive Income (Loss)

(US GAAP)

Net sales

Cost of goods sold

Gross profit

Selling, general and administrative expenses

Research and development expenses

Asbestos adjustments

EBIT

Operating income (loss)

Net interest income (expense)*

Sum of interest expense and interest income

Other income (expense)

Operating profit (loss) before income taxes*

Income (loss) before income taxes

Income tax (expense) benefit

Net operating profit (loss)*

Net income (loss)

*- Represents non-U.S. GAAP descriptions used by Australian companies.

PAGE

DEFINITIONS AND OTHER TERMS

EBIT

margin

–

EBIT

margin

defined

EBIT

percentage

net

sales.

Sales Volumes

mmsf

–

million

square

feet,

where

square

foot

defined

standard

square

foot

5/16”

thickness

msf

–

thousand

square

feet,

where

square

foot

defined

standard

square

foot

5/16”

thickness

Financial Ratios

Gearing

Ratio

–

Net

debt

(cash)

divided

net

debt

(cash)

plus

shareholders’

equity

adjusted

for

asbestos

and

AICF

items

Net interest expense cover

–

EBIT divided by net interest expense (excluding loan establishment fees)

Net

interest

paid

cover

–

EBIT

divided

cash

paid

during

the

period

for

interest,

net

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

PAGE

Adjusted

EBIT

and

Adjusted

EBIT

margin

–

Adjusted

EBIT

and

Adjusted

EBIT

margin

are

not

measures

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 focused 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.

NON-US GAAP FINANCIAL MEASURES

US$ Millions

Q3 FY15

Q3 FY14

9 Months

FY15

9 Months

FY14

EBIT

126.4

94.8

322.4

319.5

Asbestos:

Asbestos adjustments

(54.9)

(35.8)

(96.9)

(126.2)

AICF SG&A expenses

0.6

0.4

1.9

1.4

New Zealand weathertightness claims

(5.2)

(4.2)

0.7

Adjusted EBIT

66.9

55.2

223.2

195.4

Net sales

388.4

353.2

1,245.6

1,117.4

Adjusted EBIT margin

17.2%

15.6%

17.9%

17.5%

Three and Nine Months Ended 31 December

PAGE

Adjusted Net operating profit

–

Adjusted net operating profit 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 focused on the performance

of its ongoing operations. Management uses this non-US GAAP measure for the same purposes.

NON-US GAAP FINANCIAL MEASURES

US$ Millions

Q3 FY15

Q3 FY14

9 Months

FY15

9 Months

FY14

Net operating profit

107.5

92.2

263.6

286.3

Asbestos:

Asbestos adjustments

(54.9)

(35.8)

(96.9)

(126.2)

AICF SG&A expenses

0.6

0.4

1.9

1.4

AICF interest income, net

(0.5)

(0.6)

(1.0)

(2.4)

New Zealand weathertightness claims

(5.2)

(4.2)

0.7

Asbestos and other tax adjustments

1.1

(8.3)

0.7

(7.8)

Adjusted net operating profit

48.6

43.7

164.1

152.0

Three and Nine Months Ended 31 December

PAGE

Adjusted

Diluted

earnings

per

–

Adjusted

diluted

earnings

per

not

measure

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 focused

on the performance of its ongoing operations. Management uses this non-US GAAP measure for the same purposes.

NON-US GAAP FINANCIAL MEASURES

Q3 FY15

Q3 FY14

9 Months

FY15

9 Months

FY14

Adjusted net operating profit (US$ millions)

48.6

43.7

164.1

152.0

Weighted average common shares outstanding -

Diluted (millions)

445.9

445.2

445.9

444.2

Adjusted diluted earnings per share (US cents)

Three and Nine Months Ended 31 December

PAGE

Adjusted

effective

tax

rate

earnings

–

Adjusted

effective

tax

rate

earnings

not

measure

financial

performance

under

GAAP

and

should

not

considered

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 focused

on the performance of its ongoing operations. Management uses this non-US GAAP measure for the same purposes.

NON-US GAAP FINANCIAL MEASURES

US$ Millions

Q3 FY15

Q3 FY14

9 Months

FY15

9 Months

FY14

Operating profit before income taxes

124.7

95.6

315.0

320.2

Asbestos:

Asbestos adjustments

(54.9)

(35.8)

(96.9)

(126.2)

AICF SG&A expenses

0.6

0.4

1.9

1.4

AICF interest expense, net

(0.5)

(0.6)

(1.0)

(2.4)

New Zealand weathertightness claims

(5.2)

(4.2)

0.7

Adjusted operating profit before income

taxes

64.7

55.4

214.8

193.7

Income tax expense

(17.2)

(3.4)

(51.4)

(33.9)

Asbestos-related and other tax adjustments

1.1

(8.3)

0.7

(7.8)

Adjusted Income tax expense

(16.1)

(11.7)

(50.7)

(41.7)

Effective tax rate

13.8%

3.6%

16.3%

10.6%

Adjusted effective tax rate

24.9%

21.1%

23.6%

21.5%

Three and Nine Months Ended 31 December