Investor Presentaiton

October 12, 2021 GBM LAMOSA: UNLOCKING VALUE IN SOUTH AMERICA As Latin America becomes increasingly developed, we expect houses and building apartments to post a strong momentum in the following years. Additionally, factors such as the upsurge in population growth, the large share of young people (youth aged 15 to 24 account for -20% of LatAm's population), and the rapid expansion of urban areas will lead to a heated demand for housing services, infrastructure, and building materials. Despite the economic improvement in the past decades and the high urbanization rates (in 2018, 14% of people lived in one of the six cities with ten million inhabitants or more), the region still presents not only insufficient but also inadequate housing units-quantitative and qualitative (i.e., lack of basic services) deficits, respectively. These conditions create substantial room for improvement in terms of housing and public services, suitable infrastructure, and quality materials. Moreover, according to the World Bank, two-thirds of families in Latin America need a better home, not a new one. Going forward, we expect governments to maintain stimuli aimed at reducing the housing deficits, meeting housing needs that arise from the formation of new households, and responding to the growing urbanization process. All this will imply additional market opportunities for new constructions and home remodeling needs. Urbanization cohabiting with slums Today, -79% of the population in Latin America and the Caribbean lives in urban areas, making it the second most urbanized region on the planet. Despite this, a significant share of the population continues to live in slum areas, and although it has decreased over the years, it remains a relevant issue for most Latin American countries. Total urban population in LatAm living in slums A shrinking deficit The Inter-American Development Bank estimates that one in three families live in inadequate housing conditions or a dwelling built with precarious materials or lacking basic services. Nowadays, there are no updated reports of how deficits are at a regional level. However, based on two different studies, the percentage of homes built with poor materials in 2010 was ~14%, while in 2015, it stood at -10%. In our view, this shows that housing inadequacy is diminishing steadily, and it seems like the trend is to keep reducing this deficit as governments are pushing for social programs that serve that purpose. 1990 34% 2005 26% 2018 21% Furthermore, according to the United Nations, 89% of the population in Latin America and the Caribbean will live in urban areas by 2050. This trend of increased urbanization could imply a rise in demand for quality materials or higher needs for home remodeling in the years to come. Source: IADB, CEPAL, UN Habitat Infrastructure 19.8% 17.9% -14-15% Materials 14.1% 9.1% -4-5% Overcrowding 9.4% 3.3% -1-2% Deficit 2010 2015 2020 LAMOSA/CERAMIC: THE ROAD TO GROWTH IS PAVED WITH TILES. | 27

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