Investor Presentaiton

Debt Profile & Key Credit Ratios 中国西部水泥有限公司 WEST CHINA CEMENT LIMITED Debt profile 1 Total debt/EBITDA 4.0x Net debt/EBITDA 3.5x 3.6x 3.0x 2.9x 2.8x 2.9x 2.4x 3.0x 2.1x 1.6x 2.0x 1.2x 1.0x 1.4x 0.7x 0.7x 0.0x 0.0x Bank 2020 2021 2022 2023 2020 2021 2022 2023 Senior notes borrowings 59.5% 40.5% Total debt/total capitalization 2 Interest coverage ratio 3 100.0% 80.0% 60.0% 40.0% 30.0% 20.0% 20.0x 15.1x 15.0x 51.7% 50.0% 50.3% 10.0x 5.0x 8.4x 6.3x 5.0x 0.0% 0.0x 2020 2021 2022 2023 2020 2021 2022 2023 Source: Company information 1. As of December 31, 2023 2. 3. Total capitalization equals non-current borrowings plus total equity. EBITDA/Gross interest expense. 24 21

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