I went back and forth with a couple of different options on how to protect the styrofoam on the outside of the foundation. There was only 1 option that I was really comfortable with, and I knew that I would never have to worry about it again: I had 20 gauge 304 stainless steel sheet metal bent up at a local metal shop, and I installed that around the entire outside. I am very happy with how it came out, and I know that it will last forever.
On the part that bends over the top, I had the metal shop leave enough so it would go past where the anchor bolts were. I drilled holes in the stainless to go over the anchor bolts, and I also put a few concrete nails through the metal and into the top of the foundation. It isn't going anywhere!
As the grade of the yard went down, the stainless went further down the foundation wall so it will be at least 8" below grade in all spots. I put stainless steel pop rivets to hold the pieces tightly together where they overlap each other. The pop rivets are down far enough so they will be below grade and never be seen.
I had already started some of the backfill before this picture was taken.