Q1 2022 & FY 2021 Results

STRENGTHENED MARGINS AND LOWER INDEBTEDNESS THAN MOST OF OUR PEERS GCC US Average 2022 estimated Net Debt/EBITDA multiples* LatAm Average 2.8x 2.4x 2.2x 3.8x 2.7x 0.9x 1.9x 2.1x 0.7x -1.0x -0.4x GCC EXP VMC SUM Cemex Fortaleza CLH Argos MLM 2022 estimated EBITDA margins* US Average 26.7% LatAm Average 22.1% 27.9% 27.4% 28.7% 33.8% 31.8% 19.7% 18.2% 20.7% 20.6% GCC EXP VMC MLM SUM Cemex Fortaleza CLH Argos 30 Source: J.P. Morgan (May 2022) and Morgan Stanley (May 2022) estimates

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