Cementir Holding N.v. · MIL:CEM
Cementir — Euronext Sustainability Week 2026
45 slides from Cementir's conference presentation, Sep 15, 2026
Slide 1: Euronext Sustainability Week 2026
Euronext Sustainability Week 2026 Investor Presentation VIRTUAL, 15 SEPTEMBER 2026
Slide 2: Agenda
3 Group Overview Agenda 11 2026 - 2028 Industrial Plan update 16 ESG strategy 27 2026 First Half Results and Guidance 38 Appendix 2
Slide 3: 2025 Group Highlights
2025 Group Highlights Revenue EBITDA Net Cash Returns 1.64 Bn€ 440 M€ 465 M€ ROCE: 19.5 % -2.8% vs. 2024 +7.9% vs. 2024 +175 M€ vs. 2024 ROE: 10.6 % Credit Rating ESG Ratings BBB- Cement capacity Employees with Stable Outlook 12.5 M tons 2,987 Annually -95 vs. 2024 Data as of December 31st, 2025. Re
Slide 4: Industrial footprint
Industrial footprint* White cement plants Grey cement plants Countries of operation Aalborg, DK Trakya, TR Gaurain, BE York, PA Izmir, TR Elazig, TR Anqing, CN Waco, TX El Arish, EG Ipoh, ML PLANTS CAPACITY / 2025 SALES Cement plants: 10 Quarries: 34 Grey cement capacity: 9.2 mt RMC sales: 4.3 mm3 T
Slide 5: Business segments
Business segments Grey White Ready-Mixed Aggregates Cement Cement Concrete VOLUMES SOLD VOLUMES SOLD VOLUMES SOLD VOLUMES SOLD (mt) (mt) (mm3) (mt) 2025 KEY FIGURES REVENUE = 1,106 M€ REVENUE = 495 M€ REVENUE = 110 M€ EBITDA = 351 M€ EBITDA = 48 M€ EBITDA = 33 M€ EBITDA MARGIN = 32% EBITDA MARGIN =
Slide 6: 2025 EBITDA breakdown
2025 EBITDA breakdown* BY GEOGRAPHY BY BUSINESS ASIA PACIFIC AGGREGATES WASTE EGYPT 2%4% 8% 1% 2% 12% OTHER TURKEY 18% 6% 408 M€ 45% 408 M€ NORTH AMERICA 77% 25% CEMENT NORDIC READY-MIXED BELGIUM & BALTIC CONCRETE 76% of Ebitda from mature markets (Currencies: EUR, USD, DKK, NOK, SEK) * Non-GAAP rec
Slide 7: Global leadership in white cement
Global leadership in white cement #1 in USA, Continental Europe, China, Local presence and Australia, South-East Asia global leadership Total market of 20 Mt (0.5% of grey cement demand) 3.3 Mt 2.6 Mt White cement and clinker Cement Capacity volumes sold in 2025 25% Global leader in trading flows Sh
Slide 8: Main white cement applications
Main white cement applications 1.Precast 2. City Furniture Main Applications: concrete White Concrete Benches at Butcher Green 1.Precast concrete façade (D-Carb Elementary School , Grandview, USA 2.City Furniture Lower Carbon 3.Paving and masonry White Cement) products B-Park Office 4.GRC (Glass Fib
Slide 9: White cement iconic projects
White cement iconic projects Louvre, Abu Dhabi, United Arab Emirates Beijing Civil Aviation Third Center, Beijing, China Nanjing Youth Olympic Games Center, Nanjing, China* National Museum of Qatar, Doha, Qatar* Photo credits: Nanjing BeiLida New Material / Contec prefab 9
Slide 10: Nymølle acquisition: expanding in Danish aggregates
Nymølle acquisition: expanding in Danish aggregates A bolt-on acquisition in the aggregates business, enhancing vertical integration and securing a stronger Nordic platform. NYMØLLE PROFILE • The largest aggregates player* in Denmark, with around 10% Nymølle - Active market share Nymølle - Inactive
Slide 11: 2026-2028 Industrial Plan update
01 2026-2028 Industrial Plan update NAVITAS PARK, AARHUS (DENMARK)
Slide 12: Group strategic priorities
Group strategic priorities Sustainability Competitiveness Innovation Growth and People and Positioning Safety • Sustainability • Digitalization • Application of • Reinforce • Zero Accidents Roadmap update Artificial vertical program: foster a • Manufacturing, intelligence to integration in high-perf
Slide 13: 2026-2028 Industrial Plan key metrics
2026-2028 Industrial Plan key metrics Figures exclude the intensification of geopolitical tensions and any extraordinary event REVENUE* RECURRING EBITDA* NET CASH EUR billion EUR million EUR million EBITDA 24.8% ~23.6% Margin CAGR CAGR +6-7% +4.7% ~330 Pro-Forma* 1,95 Pro-Forma * 400-420 460 800 1,7
Slide 14: 2026-2028 Industrial Plan: key 2028 targets
2026-2028 Industrial Plan: key 2028 targets * 2025 Actual Target M€ Non-GAAP 2028 • ~6-7% Revenue CAGR in the 2026-28 period. Moderate increase in cement volumes: Nordic & Baltic residential construction is expected to recover from 2027; higher export volumes from Egypt, and improved trading in Belg
Slide 15: 2026-2028 Capex highlights
2026-2028 Capex highlights Capex Breakdown* ▪ ~386 M€ of cumulative investments, of EUR million which 77 M€ for sustainability projects, including 16 M€ for CCS Total ▪ Main capex initiatives: • ACCSION project in Denmark (CCS) 386 • Wind turbines in Belgium 128 77 • Facility upgrade for FUTURECEM®
Slide 16: ESG Strategy
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Slide 17: Our path to reach net zero emissions by 2050
Our path to reach net zero emissions by 2050 2030 ROADMAP 2050 TARGET NET ZERO 29.3% CO2 reduction in scope 1 and scope Implementation of Carbon Capture & Storage 2 per ton of cementitious material (2021 (CCS) technology baseline) validated by SBTi* Net zero greenhouse emissions across the 23.0% CO2
Slide 18: Continued ESG commitment
Continued ESG commitment In Dec. 2025, Cementir In May 2026, Cementir was In June 2026, Cementir was included in “A list” included for the third year in was included in the TIME of CDP for the second the Financial Times’ ranking of the World’s 750 time “Europe’s Climate Leaders” Most Sustainable ran
Slide 19: Scope 1, 2 and 3 CO2 emissions footprint
As Is: Scope 1, 2 and 3 CO2 emissions footprint * DIRECT INDIRECT EMISSIONS INDIRECT EMISSIONS TOTAL CO2 EMISSIONS EMISSIONS (ELECTRICITY) (VALUE CHAIN) Scope 1 Scope 2 Scope 3 Scope 3 CEMENT and OTHER Scope 1 and 2 25% OTHER Sources: Sources: Sources: • Process and fuel • Purchased electricity, • U
Slide 20: New 2030 decarbonization targets (Scope 1 emissions)
New 2030 decarbonization targets (Scope 1 emissions) Grey cement target White cement target Kg Gross CO2 /TCE * Kg Gross CO2 /TCE * -42% vs 2020 -20% vs 2020 800 300% 1000 300% 2028 718 2028 915 919 Target 684 672 Target 886 700 250% 900 868 2030 250% 655 846 859 632 823 Target 610 2030 200% 800 600
Slide 21: Scope 3 emissions: 25% of total carbon footprint
Scope 3 emissions: 25% of total carbon footprint Reduction commitment BY CATEGORY • Target to reduce Scope 3 emissions by 23% FUEL AND compared to 2021 levels. ENERGY-RELATED • Progress achieved in 2025: CO₂ emissions per ton of ACTIVITIES purchased clinker and cement were reduced to 831 47% kg, fro
Slide 22: Low carbon products: FUTURECEM and D-Carb
Low carbon products: FUTURECEM® and D-Carb® • FUTURECEM® is based on a unique limestone and • D-Carb® is an umbrella brand for white low-carbon cements, calcined clay synergic combination which enables around supporting our white cement decarbonization efforts 30% CO2 reduction compared to ordinary
Slide 23: The ACCSION Project
The ACCSION Project ACCSION stands for Aalborg CCS using Infrastructure Onshore in North Jutland • Pioneering carbon capture and storage (CCS) initiative in consortium with Air Liquide, aiming to establish Europe’s first fully onshore CCS value chain • The project targets 1.5 million tonnes of CO₂ c
Slide 24: Biodiversity: from assessment to action
Biodiversity: from assessment to action Cementir’s biodiversity work focuses on quarry operations, applying a TNFD-aligned approach to identify nature-related dependencies, impacts, risks and opportunities, and translate them into a measurable action plan All 38 quarries assessed for how the busines
Slide 25: Health and Safety: developing a strong H&S culture
Health and Safety: developing a strong H&S culture ▪ Cementir is strengthening its H&S LOST TIME INJURY FREQUENCY RATE * culture through workers’ engagement 11,0 and participation 9,9 9,0 8,0 6,0 5,2 4,2 4,2 4,2 3,5 2,9 4,1 ▪ Main initiatives: 2,9 3,0 2,9 2,3 2,6 1,8 • Overall safety performance imp
Slide 26: Responsible Governance
Responsible Governance Governance is the pre-requisite for delivering our ESG commitments — and a value-protection lever for investors 50% women on the Board 38% independent Directors 15-20% of C-level pay on ESG KPIs CSRD-aligned since 2024 1 BOARD & OVERSIGHT 2 RISK & COMPLIANCE 3 TRANSPARENCY Boa
Slide 27: 2026 First Half results and Guidance
03 2026 First Half results and Guidance
Slide 28: Key takeaways
Key takeaways Significant improvement in the second quarter despite a first quarter impacted by exceptionally adverse weather conditions. At constant perimeter, Q2 cement volumes increased by 3.4%, non- GAAP revenue by 5.3% and EBITDA by 12.9%, confirming a positive reversal compared to the weak sta
Slide 29: 2026 First half results highlights
2026 First half results highlights* Revenue reached 798.1 M€ (+0.2% yoy); non-GAAP** Revenue Financial Highlights – Non GAAP** reached 793.7 M€ (-1.7% yoy and -0.2% at constant perimeter) • 37.4 M€ negative FX impact, mainly due to TRY and USD depreciation • Cement volumes decreased by 2.9%, due to
Slide 30: Nordic & Baltic
Nordic & Baltic DENMARK Asset overview Share of Group EBITDA • Construction market remained weak, especially residential, due to restrictive financing conditions, energy-cost 45% uncertainty and project postponements (33) • Grey domestic cement volumes -4% yoy, impacted by (23) exceptionally harsh w
Slide 31: Belgium and France
Belgium and France* Asset overview Share of Group EBITDA BELGIUM AND FRANCE • Domestic cement volumes were up 5% supported by new 32% customers and a major infrastructure project in the Antwerp area, despite adverse weather in the beginning of the year and unusually high temperatures in the second h
Slide 32: Türkiye
Türkiye Asset overview Share of Group EBITDA TÜRKIYE • Challenging operating environment, impacted by 5% hyperinflation, high interest rates, exceptionally adverse weather in Q1 and weaker post-earthquake reconstruction demand (x6) • Domestic cement volumes -13% yoy (-2.2% excluding the disposal of
Slide 33: North America
North America Asset overview Share of Group EBITDA UNITED STATES • White cement volume were broadly stable yoy, 7% demonstrating resilience despite a generally softer market environment and weak residential demand • Florida recorded a +10% increase driven by demand from key customers • In Texas volu
Slide 34: Egypt
Egypt Asset overview Share of Group EBITDA EGYPT • Revenues were up ~57% despite a 7.3% depreciation of the Egyptian pound 5% • Macro context remains challenging with high inflation, currency volatility, rising energy costs • Domestic cement volumes increased 31% supported by stronger commercial pos
Slide 35: Asia Pacific
Asia Pacific Asset overview Share of Group EBITDA CHINA • Volumes -6% yoy, impacted by weak domestic demand, intense competition, adverse weather conditions in 3% January, the slowdown around the Chinese New Year • Market environment remains weak despite government stimulus • Revenues decreased -10.
Slide 36: 2026 Guidance - confirmed
2026 Guidance - confirmed In light of the results achieved in H1 2026 and despite the uncertain macroeconomic and geopolitical environment we reiterate our full-year guidance REVENUE* (€ BN) EBITDA* (€ M) NET CASH (€ M) Revenue ~ 1.7 BN€ +5% <5% +125 M€ Pro-Forma* EBITDA 400 - 420 M€ 1,62 1,70 Pro-F
Slide 37: Increased shareholders return in the last 5 years
Increased shareholders return in the last 5 years • Dividend per Share +67% and Earnings per Share +83% vs 2021 • The 2026-2028 Industrial Plan assumes the distribution of an increasing dividend, with a payout ratio between 20% and 25% Dividend per Share Earnings per Share Payout Ratio +67% +83% 20-
Slide 38: Appendix
04 Appendix GREEN BELT BRIDGE, DENMARK
Slide 39: Consolidated Income Statement – H1 2026
Appendix – Consolidated Income Statement – H1 2026 H1 2026 H1 2025 (EUR million) H1 2026 H1 2025 Chg % Chg % (Non-GAAP)* (Non-GAAP)* REVENUE FROM SALES AND SERVICES 798.1 796.7 0.2% 793.7 807.1 (1.7%) Change in inventories (9.6) (4.1) 131.7% (8.3) (2.8) 202.6% Increase for internal work and other in
Slide 40: Consolidated Income Statement – FY 2025
Consolidated Income Statement – FY 2025 2025 2024 (EUR million) 2025 2024 Chg % Chg % (Non-GAAP)* (Non-GAAP)* REVENUE FROM SALES AND SERVICES 1,639.6 1,686.9 (2.8%) 1,644.0 1,648.8 (0.3%) Change in inventories 24.4 (0.5) n.m. 26.6 3.7 n.m. Increase for internal work and other income 62.7 27.4 128.3%
Slide 41: M&A track record
M&A track record Since 2001 around EUR 2 billion invested with no recourse to shareholder equity 600 254 312 152 112 22 9 125 87 48 4 11 5 11 -315 4 4 -51 120 2001 2004 2005 2006 2007 2008 2009 2010 2011 2012 Jul-16 Oct-16 Jan-18 Mar-18 2021 2023 2024 2025 2026 2001 - Cimentas AS and Cimbeton AS 200
Slide 42: Key differences between white and grey cement
Key differences between white and grey cement WHITE CEMENT GREY CEMENT • ~ 20 million tons per year (0.5% of grey) • > 4 billion tons per year Market Size • Niche product: high value, small volumes • Commodity: basic value, large volumes Industry • Raw materials widespread presence, many • Raw mater
Slide 43: Türkiye historical figures
Türkiye historical figures Türkiye - Cement Market (Mt) * EDIRNE (x6) IZMIR ELAZIG Grey cement plant (3) Waste (1) RMC (23) Quarries (18) Türkiye – EBITDA evolution ** Hyperinflation years 2.566 2.656 TRY million 1.884 552 149 72 107 165 139 106 104 52 20 205 -54 EUR million PEAK TROUGH 83,5 72,1 73
Slide 44: Locations of cement plants and CO2 storage sites in Europe
Locations of cement plants and CO2 storage sites in Europe Cement plants CO2 storage sites Source: Johannes Ruppert, VDZ 2025 Source: Karen Lyng Anthonsen & Niels Peter Christensen: EU Geological CO₂ storage summary. GEUS report 2021/34 44
Slide 45: Disclaimer and Other information
Disclaimer and Other information This presentation has been prepared by and is the sole responsibility of Cementir Holding N.V. (the “Company”) for the sole purpose described herein. In no case may it or any other Investor Relations: statement (oral or otherwise) made at any time in connection herew