Investor Presentaiton

Key differences between white and grey cement WHITE CEMENT Market Size ~ 20 million tons per year (0.5% of grey) Niche product: high value, small volumes ■ Industry Features GREY CEMENT > 4 billion tons per year Commodity: basic value, large volumes Raw materials scarcity, fewer producers, growth end- markets, high switching costs, export-driven Raw materials widespread presence, many producers, cyclical end-markets, local demand (only 5% exported) Growth drivers End markets Product Features Applications * Consumption driven by home renovation, restructuring and technology. High tech product ■ Higher market growth rates in developed countries ☐ Main clients are large dry mix players (Saint Gobain- Weber, Mapei, etc) and pre-cast producers High workability, high electrical conductivity, aesthetics. Increasingly used for landmark buildings, urban fittings, eco-friendly construction projects Dry mix producers/mortars/specialty products (50-70%) ■ Bricks, blocks and tiles (20-30%) ■In-situ and pre-cast concrete (10-20%) " Consumption driven by infrastructure & residential- commercial. Low tech product. Demand growth in line with GDP in developed countries Main clients are ready-mix companies, construction companies and pre-cast producers The most widespread construction material, used mostly for new build and infrastructure ■ Ready-mixed and pre-cast concrete (55-65%) ■ Bricks, blocks and tiles (30-40%) Dry mix/mortars and other (5-10%) C cementirholding CALTAGIRONE GROUP (*) Cementir estimates of cement consumption by segment in Europe 32 Co Concretely Dynamic

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