Exterior insulation and finish system (EIFS) is a general class of non-load bearing building cladding systems that provides exterior walls with an insulated, water-resistant, finished surface in an integrated composite material system.

EIFS has been in use since the 1960s in North America and was first used on masonry buildings. Since the 1990s, the majority of wood-framed buildings have used EIFS.

EIFS was developed in Europe after World War II and was initially used to retrofit masonry walls. EIFS started to be used in North America in the 1960s, at first on commercial masonry buildings. EIFS became popular in the mid-1970s due to the oil embargo and the resultant surge in interest in insulating wall systems that conserve energy used for heating and cooling.

In the late 1980s problems started developing due to water leakage in EIFS-clad buildings. This led to international controversy and lawsuits. EIFS installation was found to be a contributing factor in the multibillion-dollar problem known as the "Leaky condo crisis" in southwestern British Columbia and the "Leaky homes" issue in New Zealand that emerged separately in the 1980s and 1990s.

Critics argue that, while not inherently more prone to water penetration than other exterior finishes, barrier-type EIFS systems (non-water-managed systems) do not allow water that does penetrate the building to escape. The EIFS industry has consistently maintained that poor craftsmanship and bad architectural detailing at the perimeter of the EIFS was the problem. As a result, building codes began mandating a drainage system for EIFS systems on wood-frame buildings and additional on-site inspection.

Though there are some cases where insurance companies may not offer coverage for EIFS, several companies do. EIFS systems installed at lower building levels are subject to vandalism, as the material is soft and can be chipped or carved resulting in significant damage. In these cases, heavier ounce reinforcing mesh can drastically increase the durability of the EIFS system.

EIFS is now used all over North America, and in other areas around the world, especially in Europe and the Pacific Rim. The use of EIFS over stud-and-sheathing framing instead of over solid walls is a technique used primarily in North America. As of 1997 EIFS accounted for about 4% of the residential siding market and 12% of the commercial siding market.

In the United States, the International Building Code and ASTM International define Exterior Insulation and Finish System (EIFS) as a non-load-bearing exterior wall cladding system that consists of an insulation board attached either adhesively, mechanically, or both, to the substrate; an integrally reinforced base coat; and a textured protective finish coat.