Yes. Because EPS is an inert, organic material, it will not rot and is highly resistant to mildew. It also provides no nutritional value to ants, termites and rodents.
To prevent damage to EPS by pests and insects seeking to gain access to the other materials in buildings which provide a food source, EPS may be coated using specialised cement based premixes. EPS should outlive any building where it is installed due to these facts since age does not affect it.