Investor Presentaiton

October 12, 2021 LAMOSA: GBM ESTIMATES Stock Information GBM Financial Estimates GBM Last Price P$70.9 Stock Returns MXN Million 2020 2021e 2022e 2023e 2024e 2025e No. Shares ('000s) 358,079 1 M 2.8% Revenues 19,473 25,959 28,547 29,163 29,826 29,652 Mkt Cap (MXN Million) $25,388 3M 41.8% % YOY 8.5% 33.3% 10.0% 2.2% 2.3% -0.6% 6M ADVT (MXN Million) $4.8 6M 61.1% Op. Profit 3,549 6,186 6,326 5,921 5,551 5,128 Net Debt (MXN Million) $4,307 1 Yrs 153.2% Op. Mg. 18.2% 23.8% 22.2% 20.3% 18.6% 17.3% Net Debt Incl. IFRS 16 $4,595 3 Yrs 77.3% EBITDA 4,227 7,071 7,313 6,951 6,603 6,223 Float 47.0% 5 Yrs 85.6% % YOY 20.0% 67.3% 3.4% -4.9% -5.0% -5.8% Max 52w P$72.0 EBITDA Mg. 21.7% 27.2% 25.6% 23.8% 22.1% 21.0% Min 52w P$23.3 Net Profit 1,640 3,859 3,966 3,701 3,519 3,331 % YOY 14.8% 135.3% 2.8% -6.7% -4.9% -5.3% Valuation Ratios Net Mg. 8.4% 14.9% 13.9% 12.7% 11.8% 11.2% 2020 2021e 2022e 2023e 2024e 2025e EV/EBITDA 4.1x 4.6x 4.2x 4.2x 4.0x 3.8x Free Cash Flow P/E 7.9x 6.6x 6.4x 6.9x 7.2x 7.6x -MXN Million 2020 2021e 2022e 2023e 2024e 2025e P/S 0.7x 1.0x 0.9x 0.9x 0.9x 0.9x (+) EBITDA 4,227 7,071 7,313 6,951 6,603 6,223 P/BV 1.2x 1.9x 1.6x 1.4x 1.2x 1.1x (-) Working Capital -1,219 646 457 252 156 25 Net Debt/EBITDA 1.1x 1.0x 0.7x 0.5x 0.1x -0.3x (-) Cash Interest 372 473 558 509 401 250 ROE 14.7% 28.7% 25.1% 20.2% 17.1% 14.6% (-) Cash Taxes 769 1,712 1,925 1,684 1,507 1,229 ROIC 21.9% 37.4% 37.1% 32.5% 30.3% 28.7% (-) CAPEX (Maintenance) 441 738 864 950 1,025 1,065 Op. FCF yield 30.0% 13.8% 13.8% 14.0% 13.8% 14.4% (=) Op. FCF 3,864 3,503 3,510 3,556 3,514 3,654 FCF yield 26.8% -8.0% 9.9% 10.2% 11.6% 12.8% (-) CAPEX (Growth) 407 5,546 984 976 560 415 Dividend yield 2.3% 1.2% 1.4% 1.6% 1.7% 1.9% (=) FCF 3,457 -2,043 2,526 2,580 2,954 3,238 Dividend 294 316 358 394 434 477 Net Debt incl. IFRS 16 4,610 7,187 5,481 3,506 987 -1,775 LAMOSA/CERAMIC: THE ROAD TO GROWTH IS PAVED WITH TILES. | 37

View entire presentation