Investor Presentaiton

LEADING TO A POSITIVE OUTLOOK, DRIVEN BY AN EXPECTED INCREASE IN INFRASTRUCTURE SPENDING FORECAST CEMENT CONSUMPTION IN ALL GCC U.S. MARKETS (MMT) 4yr CAGR 0.0% 31.3 31.1 31.0 30.8 30.5 2.0% 0.4% 2020 2021 2022 -1.6% 2023E -0.7% -1.8% 2024E FORECAST TOTAL U.S. CEMENT CONSUMPTION (MMT) GCC 4yr CAGR +1.3% 108.3 106.0 105.1 105.4 101.7 2020 4.2% 2.0% 2.1% 0.2% -2.9% 2021 2022 2023E 2024E Total Consumption A% as previous year U.S. CEMENT DEMAND WILL OUTPACE SUPPLY BY 2024, IMPORTS WILL BE A CRITICAL SOURCE OF SUPPLY 120 112 104 96 88 80 2019 2020 2021 2022 2023E 2024E 2025E 2026E Source: PCA Fall 2023 Forecast U.S Annual Cement Consumption (mmt) Annual Cement Capacity (mmt) 12

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