Amrize Ltd · NYSE:AMRZ

Amrize — Investor Day (March 2025)

69 slides from Amrize's investor day presentation, Mar 25, 2025

  1. Slide 1: Building North America

    INVESTOR PRESENTATION BUILDING NORTH AMERICA March 25, 2025 Populus Hotel, Denver, CO Amrize inside

  2. Slide 2: Safe Harbor Statement

    SAFE HARBOR STATEMENT This presentation (and the information contained herein or provided to you in connection herewith) contains forward-looking statements with respect to the future financial or business performance, strategies, or expectations of Amrize AG (the “Company”). Forward-looking stateme

  3. Slide 3: Today's Agenda

    TODAY’S AGENDA TIME SPEAKER TOPIC Scott Einberger 9:00am Welcome Investor Relations Officer Jan Jenisch 9:05am Building North America Chairman and CEO Jaime Hill 9:35am Market Leadership in Building Materials President, Building Materials Jake Gosa 10:00am Accelerated Expansion in Building Envelope

  4. Slide 4: Building North America

    Section 1 BUILDING NORTH AMERICA Jan Jenisch Chairman & CEO The Spheres, Seattle, WA Amrize inside

  5. Slide 5: Amrize at a Glance

    AMRIZE AT A GLANCE NORTH AMERICA’S LEADING BUILDING SOLUTIONS COMPANY 100% #1 #2 #1 or #2 Focus on the North Cement company Commercial roofing In 85% of Aggregate American market with industry-leading company within markets served1 footprint 4 years of entry1 $11.7B +13% $3.2B +16% 2024 Revenues Rev

  6. Slide 6: Advanced Building Solutions from Foundation to Rooftop

    AMRIZE AT A GLANCE ADVANCED BUILDING SOLUTIONS FROM FOUNDATION TO ROOFTOP BUILDING Cement BUILDING MATERIALS ENVELOPE Commercial Roofing Systems Aggregates Residential Roofing Systems Ready-Mix BUILDING NORTH AMERICA Concrete FOR 100+ YEARS Wall Systems Asphalt & Concrete Products 6

  7. Slide 7: Unparalleled Footprint with 1,000+ Sites and Facilities

    AMRIZE AT A GLANCE UNPARALLELED FOOTPRINT WITH 1,000+ SITES AND FACILITIES Network of manufacturing …serving all US states and Canadian provinces excellence… Central Great Lakes 18 462 30% of total revenue1 20% Cement plants Aggregate operations 141 269 Cement terminals Ready-mix concrete plants 55

  8. Slide 8: A Unique Investment Opportunity

    AMRIZE A UNIQUE INVESTMENT OPPORTUNITY 1 100% focus on the North American market 2 Unparalleled footprint and resources 3 Successful track record of value creation 4 Unlocking our next phase of growth 5 Driving shareholder value Gordie Howe Bridge 8 Detroit, MI & Windsor, ON Amrize inside

  9. Slide 9: Uniquely Positioned in Large Addressable Markets

    1 100% FOCUS ON THE NORTH AMERICAN MARKET UNIQUELY POSITIONED IN LARGE ADDRESSABLE MARKETS $140B+ $60B+ Building Materials Total Addressable Market1 Building Envelope Total Addressable Market1 • $2 trillion of annual construction spending across infrastructure, • Growing demand for high-performance

  10. Slide 10: Uniquely Positioned to Serve All Construction Markets

    1 100% FOCUS ON THE NORTH AMERICAN MARKET UNIQUELY POSITIONED TO SERVE ALL CONSTRUCTION MARKETS Commercial New Building 49% construction materials 56% 71% Infrastructure 28% Repair & refurbishment 44% Building envelope Residential 23% 29% 10 % of 2024 total revenue

  11. Slide 11: The Market Leader in North American Building Materials

    2 UNPARALLELED FOOTPRINT AND RESOURCES THE MARKET LEADER IN NORTH AMERICAN BUILDING MATERIALS North America’s #1 Cement Company with a highly efficient and extensive logistics network #1 or #2 Market Positions in 85% of Aggregate markets served1 71 Years and 46 Years of Cement and Aggregate mineral

  12. Slide 12: State-of-the-Art Building Envelope Facilities

    2 UNPARALLELED FOOTPRINT AND RESOURCES STATE-OF-THE-ART BUILDING ENVELOPE FACILITIES Built a $3.4B Business in just 4 years Iconic Brands with high customer loyalty Serving Customers Across North America with 45 Building Envelope facilities Over $200M Capital Deployed for growth and efficiency since

  13. Slide 13: Above Market Growth and Leading Cash Generation

    3 SUCCESSFUL TRACK RECORD OF VALUE CREATION ABOVE MARKET GROWTH AND LEADING CASH GENERATION Revenues Adjusted EBITDA1 Free Cash Flow1 Cash Conversion1 +13% +16% +15% Above 50% Free Cash Flow / Adjusted CAGR CAGR CAGR EBITDA in each of the last 54% 4 years Above 100% $11.7B $3.2B Free Cash Flow / Net

  14. Slide 14: Driving Significant Margin Expansion

    3 SUCCESSFUL TRACK RECORD OF VALUE CREATION DRIVING SIGNIFICANT MARGIN EXPANSION Building Materials Building Envelope Amrize Adjusted EBITDA Margin1 Adjusted EBITDA Margin1 Adjusted EBITDA Margin1 +180 +790 +220 bps bps bps 30.6% 22.8% 27.2% 28.8% 25.0% 14.9% 2021 2024 2021 2024 2021 2024 14 1 See a

  15. Slide 15: Value Accretive and Disciplined Acquisition Strategy

    3 SUCCESSFUL TRACK RECORD OF VALUE CREATION VALUE ACCRETIVE AND DISCIPLINED ACQUISITION STRATEGY $3.8B+ 35 acquisitions since 2018 across Aggregates, Ready-mix and Building Envelope Building Envelope segment built through M&A and accounts for 29% of Revenues in 2024 Annual Revenue Acquired companies

  16. Slide 16: Our Track Record of Executing on Mega Projects

    4 UNLOCKING OUR NEXT PHASE OF GROWTH OUR TRACK RECORD OF EXECUTING ON MEGA PROJECTS $171M $146M Total project revenue Total project revenue 2021 – 2025 2023 – 2025 Golden Pass — Sabine Pass, TX Port Arthur — Port Arthur, TX 130K tons of cement 170K tons of cement 590K cy ready-mix 410K cy ready-mix

  17. Slide 17: Growth-Focused Strategy to Sustain Outperformance

    4 UNLOCKING OUR NEXT PHASE OF GROWTH GROWTH-FOCUSED STRATEGY TO SUSTAIN OUTPERFORMANCE Focus on the most attractive market segments to drive above market growth Partner of choice with value-added solutions from foundation to rooftop Market-based pricing strategies & operational synergies drive margi

  18. Slide 18: Proven Leadership Team Driving Performance

    4 UNLOCKING OUR NEXT PHASE OF GROWTH PROVEN LEADERSHIP TEAM DRIVING PERFORMANCE Jan Jenisch Ian Johnston Jaime Hill Jake Gosa Nollaig Forrest Chairman & Chief Financial Officer President, President, Chief Marketing & CEO Building Materials Building Envelope Corporate Affairs Officer Steve Clark Deni

  19. Slide 19: Growth-Focused Capital Structure & Allocation Strategy

    5 DRIVING SHAREHOLDER VALUE GROWTH-FOCUSED CAPITAL STRUCTURE & ALLOCATION STRATEGY Proposed Initial Capital Structure <1.5x $2.0B $2.0B $5.1B and Liquidity Net Leverage Ratio1 Committed Credit Commercial Paper Bridge Loan Facility Program Available Invest in expanding our footprint, Invest in the Ca

  20. Slide 20: Mid-Term Financial Targets

    5 DRIVING SHAREHOLDER VALUE MID-TERM FINANCIAL TARGETS FY 2025 - FY 2028 Revenue CAGR 5% – 8% Adjusted EBITDA CAGR 8% – 11% Cumulative Free Cash Flow over $8B Cash Conversion over 50% 20 Targets include bolt-on acquisitions and exclude transformational M&A.

  21. Slide 21: Market Leadership in Building Materials

    Section 2 MARKET LEADERSHIP IN BUILDING MATERIALS Jaime Hill President, Building Materials Mario Cuomo Bridge, NY Amrize inside

  22. Slide 22: Building Materials Overview

    BUILDING MATERIALS OVERVIEW $8.3B 2024 Revenues1 ~50% ~50% Cement Aggregates & Other Construction Materials2 18 Cement plants 462 Aggregate operations 141 Cement terminals 269 Ready-mix concrete plants 55 Cementitious product operations 50 Asphalt operations 35 Concrete product sites Gordie Howe Bri

  23. Slide 23: Building Materials Highlights

    BUILDING MATERIALS HIGHLIGHTS Unparalleled scale and attractive industry 1 fundamentals Leading cement positions, mineral reserves 2 and logistics Strong aggregate positions with 3 complementary ready-mix 4 Superior track record of profitable growth 23 Boston University, Boston, MA Amrize inside

  24. Slide 24: The Market Leader in North American Building Materials

    1 UNPARALLELED SCALE AND ATTRACTIVE INDUSTRY FUNDAMENTALS THE MARKET LEADER IN NORTH AMERICAN BUILDING MATERIALS North America’s #1 Cement Company with a highly efficient and extensive logistics network #1 or #2 Market Positions in 85% of Aggregate markets served1 71 Years and 46 Years of Cement and

  25. Slide 25: Pricing Growth Driven by Market Dynamics and Local Leadership

    1 UNPARALLELED SCALE AND ATTRACTIVE INDUSTRY FUNDAMENTALS PRICING GROWTH DRIVEN BY MARKET DYNAMICS AND LOCAL LEADERSHIP Limited Natural Resources: Cement and Average Selling Price Aggregates are non-renewable and (USD/ short ton)1 increasingly in demand Cement Aggregates Highly Regulated: Strict per

  26. Slide 26: Our Track Record of Executing on Mega Projects

    1 UNPARALLELED SCALE AND ATTRACTIVE INDUSTRY FUNDAMENTALS OUR TRACK RECORD OF EXECUTING ON MEGA PROJECTS $171M $146M Total project revenue Total project revenue 2021 – 2025 2023 – 2025 Golden Pass — Sabine Pass, TX Port Arthur — Port Arthur, TX 130K tons of cement 170K tons of cement 590K cy ready-m

  27. Slide 27: North America's #1 Cement Company

    2 LEADING CEMENT POSITIONS, MINERAL RESERVES AND LOGISTICS NORTH AMERICA’S #1 CEMENT COMPANY 25M 71 years Tons sold in 2024 of reserves Leading Water and Rail Transportation Network providing unrivalled flexibility and reliability of supply Ste. Genevieve at the Heart North America’s largest cement

  28. Slide 28: Unmatched Scale and Production Capacity

    2 LEADING CEMENT POSITIONS, MINERAL RESERVES AND LOGISTICS UNMATCHED SCALE AND PRODUCTION CAPACITY North America Share of Cement Production Capacity1 1.7x Scale Amrize Plant in Ste. Genevieve, MO 5.5M+ tons of cement capacity Ste. Genevieve Plant in St. Louis, MO Amrize Competitor 1 Competitor 2 Com

  29. Slide 29: Attractive Industry Structure

    2 LEADING CEMENT POSITIONS, MINERAL RESERVES AND LOGISTICS ATTRACTIVE INDUSTRY STRUCTURE U.S. Cement Production Volume and Demand (MT)1 Attractive cement market outlook with demand 140 Total U.S. Cement Total U.S. Cement forecasted to outpace supply Production Volume Demand 120 100 Limited increase

  30. Slide 30: Key Investments to Increase Production Capacity & Efficiencies

    2 LEADING CEMENT POSITIONS, MINERAL RESERVES AND LOGISTICS KEY INVESTMENTS TO INCREASE PRODUCTION CAPACITY & EFFICIENCIES Hagerstown Plant Ste. Genevieve Plant Skippers Plant St. Constant Plant Maryland Missouri Virginia Quebec Implemented alternative fuel Expansion of flagship plant will Beneficiat

  31. Slide 31: Scaled Aggregates Business

    3 STRONG AGGREGATE POSITIONS WITH COMPLEMENTARY READY-MIX SCALED AGGREGATES BUSINESS 462 269 Aggregate operations Ready-mix concrete plants 11B tons Proven Aggregate reserves and resources #1 or #2 Market Positions in 85% of Aggregate markets served1 Extensive Logistics Network 70+ distribution hubs

  32. Slide 32: Pipeline of Mineral Resources Drives Future Growth

    3 STRONG AGGREGATE POSITIONS WITH COMPLEMENTARY READY-MIX PIPELINE OF MINERAL RESOURCES DRIVES FUTURE GROWTH Available Aggregates (tons) ~5.5B ~5.4B 11B 46 years of proven reserves in our aggregate business Reserves Resources Total Additional 5.4B tons of resources to be converted to reserves 32 Gor

  33. Slide 33: The Partner of Choice in Ready-Mix

    3 STRONG AGGREGATE POSITIONS WITH COMPLEMENTARY READY-MIX THE PARTNER OF CHOICE IN READY-MIX Value added Footprint that includes Ready-mix direct Innovation experts and high performance 269 ready-mix concrete technology offering laboratories to support ready-mix offering plants, of which 26 are driv

  34. Slide 34: Fragmented Markets Create Attractive Bolt-On Opportunities

    3 STRONG AGGREGATE POSITIONS WITH COMPLEMENTARY READY-MIX FRAGMENTED MARKETS CREATE ATTRACTIVE BOLT-ON OPPORTUNITIES Aggregate Market Share Ready-Mix Market Share 37% 19% Top 5 Top 5 operators operators 63% 81% All other All other operators operators 28 Acquisitions completed since 2018 34 Source: O

  35. Slide 35: Expansion Projects Supplement Growth Strategy

    3 STRONG AGGREGATE POSITIONS WITH COMPLEMENTARY READY-MIX EXPANSION PROJECTS SUPPLEMENT GROWTH STRATEGY Quarry Extension Greenfield Quarry New Ready-Mix Plant Plant Upgrades Ontario Oklahoma Texas West Virginia Unlocked new reserves for largest Develop quarry to supply fast Install new greenfield pl

  36. Slide 36: Strong Growth and Margin Expansion in Building Materials

    4 SUPERIOR TRACK RECORD OF PROFITABLE GROWTH STRONG GROWTH AND MARGIN EXPANSION IN BUILDING MATERIALS Revenues Adjusted EBITDA1 Adjusted EBITDA Margin1 +8% +10% +180 CAGR CAGR bps $8.3B $2.6B 30.6% $6.7B $1.9B 28.8% 2021 2024 2021 2024 2021 2024 36 . See appendix for non-GAAP reconciliation. 1

  37. Slide 37: Building Materials Key Takeaways

    BUILDING MATERIALS KEY TAKEAWAYS Unparalleled scale and attractive industry fundamentals Leading cement positions, mineral reserves and logistics Strong aggregate positions with complementary ready-mix Superior track record of profitable growth 37 JFK International Airport, Queens, NY Amrize inside

  38. Slide 38: Accelerating Expansion in Building Envelope

    Section 3 ACCELERATING EXPANSION IN BUILDING ENVELOPE Jake Gosa President, Building Envelope Logistics center, Toronto, ON Amrize inside

  39. Slide 39: Building Envelope Overview

    BUILDING ENVELOPE OVERVIEW $3.4B Commercial Residential 2024 Revenues 1 $3.4B 2024 Revenues New Construction Repair & Refurbishment 39

  40. Slide 40: Building Envelope Highlights

    BUILDING ENVELOPE HIGHLIGHTS Advanced building envelope systems with 1 iconic brands 2 State-of-the-art operational platform Uniquely innovative solutions to meet 3 market needs 4 Positioned for above market growth 40

  41. Slide 41: Leading Brands in Both Commercial and Residential Applications

    1 ADVANCED BUILDING ENVELOPE SYSTEMS WITH ICONIC BRANDS LEADING BRANDS IN BOTH COMMERCIAL AND RESIDENTIAL APPLICATIONS Polyiso Roof Metal Panels Insulation Green Roof PMA Modified System Roofing Shingles Underlayment Housewrap Spray Foam Metal panels Single-ply & Green Roof Asphalt Roofing Systems S

  42. Slide 42: Systems Drive Value and Increase Customer Loyalty

    1 ADVANCED BUILDING ENVELOPE SYSTEMS WITH ICONIC BRANDS SYSTEMS DRIVE VALUE AND INCREASE CUSTOMER LOYALTY Commercial roofing advanced system selling Amrize self-adhered roofing system EPDM membrane ~33% of revenue generated from the membrane, with 67% of revenue from system components Fasteners Adhe

  43. Slide 43: Strongly Positioned for Continued Profitable Growth

    2 STATE-OF-THE-ART OPERATIONAL PLATFORM STRONGLY POSITIONED FOR CONTINUED PROFITABLE GROWTH 45 manufacturing and distribution facilities 100% of North America serviced Built a $3.4B Business in just 4 years Over $200M Capital Deployed for growth and efficiency since 2021 Building Envelope facilities

  44. Slide 44: Investing in Growth and Reaching New Markets

    2 STATE-OF-THE-ART OPERATIONAL PLATFORM INVESTING IN GROWTH AND REACHING NEW MARKETS New Elevate Plant & New Duro-Last Fabrication New Malarkey Shingles Warehouse Plant Plant Utah North Carolina Indiana LEED-certified ISOGARD manufacturing and Expanded PVC custom and metal edge New entry into Midwes

  45. Slide 45: Investing in Supply Chain Capacity and Automation

    2 STATE-OF-THE-ART OPERATIONAL PLATFORM INVESTING IN SUPPLY CHAIN CAPACITY AND AUTOMATION Acquired Glassmat Plant New EPDM Packaging New TPO Self-Adhered In-Line Maryland Automation Coating Production Arkansas Alabama Expanded Malarkey’s fiberglass mat production Added fully automated finishing line

  46. Slide 46: Megatrends Driving Demand

    3 UNIQUELY INNOVATIVE SOLUTIONS TO MEET MARKET NEEDS MEGATRENDS DRIVING DEMAND Aging US building stock Strong re-roofing demand expected to ~75% continue 90 of commercial Buildings 20+ years old buildings are 25+ enter prime roofing years old 75 replacement period through 2030 Increase of aging buil

  47. Slide 47: Delivering Innovation – Faster, Stronger, Greener

    3 UNIQUELY INNOVATIVE SOLUTIONS TO MEET MARKET NEEDS DELIVERING INNOVATION – FASTER, STRONGER, GREENER Faster Stronger Greener Tight labor market is driving More frequent severe weather Customers are demanding demand for solutions that events are driving demand for more energy efficient solutions ar

  48. Slide 48: Track Record of Revenue Growth and Margin Expansion

    4 POSITIONED FOR ABOVE MARKET GROWTH TRACK RECORD OF REVENUE GROWTH AND MARGIN EXPANSION Revenues Adjusted EBITDA1 Adjusted EBITDA Margin1 +32% +52% +790 CAGR CAGR bps $3.4B $770M 22.8% 14.9% $1.5B $219M 2021 2024 2021 2024 2021 2024 48 . See appendix for non-GAAP reconciliation. 1

  49. Slide 49: Significant Potential for Growth in Complementary Solutions

    4 POSITIONED FOR ABOVE MARKET GROWTH SIGNIFICANT POTENTIAL FOR GROWTH IN COMPLEMENTARY SOLUTIONS Proven track record of successful M&A With significant runway to expand into adjacent markets 7 15%  23% $60B+ Acquisitions in Building Adjusted EBITDA margin1 Total addressable market Envelope platform

  50. Slide 50: Building Envelope Key Takeaways

    BUILDING ENVELOPE KEY TAKEAWAYS Advanced building envelope systems with iconic brands State-of-the-art operational platform Uniquely innovative solutions to meet market needs Positioned for above market growth 50 Apple Park, Cupertino, CA Amrize inside

  51. Slide 51: Driving Shareholder Value

    Section 4 DRIVING SHAREHOLDER VALUE Ian Johnston CFO Winthrop Center, Boston, MA Amrize inside

  52. Slide 52: Strong 2024 Results Highlighted by Double-Digit Adjusted EBITDA Growth

    STRONG 2024 RESULTS HIGHLIGHTED BY DOUBLE-DIGIT ADJUSTED EBITDA GROWTH $11.7B $3.2B 27.2% $1.7B 54% 2024 Revenues 2024 Adjusted 2024 Adjusted 2024 Free Cash 2024 Cash Flat vs. FY 2023 EBITDA1 EBITDA Margin1 Flow1 Conversion1 +12% vs. FY 2023 +280bps vs. FY 2023 +19% vs. FY 2023 +330bps vs. FY 2023 5

  53. Slide 53: Financial Highlights

    FINANCIAL HIGHLIGHTS 1 Successful track record of value creation 2 Realizing synergies in our supply chain 3 Investing for long-term growth Strong cash generation supports capital 4 allocation strategy 5 Mid-term financial targets 53 M3 Tower Project, Mississauga, ON, Canada Amrize inside

  54. Slide 54: Double Digit Revenue and Profit Growth

    1 SUCCESSFUL TRACK RECORD OF VALUE CREATION DOUBLE DIGIT REVENUE AND PROFIT GROWTH Revenues Adjusted EBITDA1 Adjusted EBITDA Margin1 +13% +16% +220 CAGR CAGR bps $11.7B $3.2B 27.2% $8.1B 25.0% $2.0B 2021 2024 2021 2024 2021 2024 54 1 See appendix for non-GAAP reconciliation.

  55. Slide 55: Strong Cash Generation and Conversion

    1 SUCCESSFUL TRACK RECORD OF VALUE CREATION STRONG CASH GENERATION AND CONVERSION Free Cash Flow1 Cash Conversion1 +15% >50% CAGR Free Cash Flow / Adjusted EBITDA in each of the last 4 years $1.1B $1.7B >100% Free Cash Flow / Net Income in each of the last 4 years 2021 2024 55 1 See appendix for non

  56. Slide 56: Ready to Drive Value Through Scale and Focus

    2 REALIZING SYNERGIES IN OUR SUPPLY CHAIN READY TO DRIVE VALUE THROUGH SCALE AND FOCUS 2024 Third-party spend Raw Materials: joint external sourcing and mineral materials insourcing opportunities Services Raw Services: digital procurement tools and 24% Materials cost benchmarking across 1,000+ sites

  57. Slide 57: Synergy Targets

    2 REALIZING SYNERGIES IN OUR SUPPLY CHAIN SYNERGY TARGETS $250M+ 50bps+ Cumulative Synergy Target Margin Improvement per Year (2025 – 2028) 57

  58. Slide 58: Deploying CAPEX to Grow and Maintain Our Business

    3 INVESTING FOR LONG-TERM GROWTH DEPLOYING CAPEX TO GROW AND MAINTAIN OUR BUSINESS Property, Plant & Equipment % of Revenues 5.5% Invest in expanding our footprint, increasing production capacity and reaching new markets 4.8% Investing in supply chain capacity and automation $642M Well maintained an

  59. Slide 59: Growth CAPEX to Expand Capacity and Margin

    3 INVESTING FOR LONG-TERM GROWTH GROWTH CAPEX TO EXPAND CAPACITY AND MARGIN Ste. Genevieve, Missouri St. Constant, Quebec Malarkey Plant, Indiana Largest cement plant Expanding capacity with a new New shingles in North America clinker line and reducing costs manufacturing plant Cement capacity incre

  60. Slide 60: Value Accretive and Disciplined Acquisition Strategy

    3 INVESTING FOR LONG-TERM GROWTH VALUE ACCRETIVE AND DISCIPLINED ACQUISITION STRATEGY $3.8B+ 35 acquisitions since 2018 across Aggregates, Ready-mix and Building Envelope Building Envelope segment built through M&A and accounts for 29% of Revenues in 2024 Annual Revenue Acquired companies with stron

  61. Slide 61: Expected Investment Grade Credit Rating & Significant Liquidity

    4 STRONG CASH GENERATION SUPPORTS CAPITAL ALLOCATION STRATEGY EXPECTED INVESTMENT GRADE CREDIT RATING & SIGNIFICANT LIQUIDITY Key Financial Policies Proposed Initial Capital Structure and Liquidity Strong Investment Grade Credit Ratings Moody’s Baa1 | S&P BBB+ expected <1.5x $2.0B Net Leverage Ratio

  62. Slide 62: Growth-Driven Capital Priorities

    4 STRONG CASH GENERATION SUPPORTS CAPITAL ALLOCATION STRATEGY GROWTH-DRIVEN CAPITAL PRIORITIES Invest in the Capital 1 business expenditures Invest in expanding our footprint, increasing production capacity and reaching new markets Acquisitions Bolt-on opportunities in attractive, fragmented 2 M&A B

  63. Slide 63: Key Growth Drivers

    5 MID-TERM FINANCIAL TARGETS KEY GROWTH DRIVERS STRONG END MARKET DEMAND Aging infrastructure, recent onshoring trends and historical underinvestment in residential housing provides runway for future growth ATTRACTIVE PRICING DYNAMICS Favorable supply demand dynamics in local markets with limited na

  64. Slide 64: Mid-Term Financial Targets FY 2025 - FY 2028

    5 MID-TERM FINANCIAL TARGETS FY 2025 - FY 2028 Underlying Assumptions over over 22% – 24% 5 – 8% 8 – 11% $8B 50% Effective Tax Rate Revenue Adjusted EBITDA Cumulative Cash Conversion CAGR CAGR Free Cash Flow 5% – 7% CAPEX (% of Revenue) 64 Little Island & One World Trade Center, New York Targets inc

  65. Slide 65: On Track for US Listing by End of H1 2025

    ON TRACK FOR US LISTING BY END OF H1 2025 1 Holcim is progressing on the full capital market separation of Amrize, planned by way of a 100% spin-off 2 Listing on the New York Stock Exchange, with an additional listing on the SIX Swiss Exchange 3 Amrize to comply with SEC rules applicable to US domes

  66. Slide 66: Q&A

    Q&A 66 One World Trade Center, New York, NY Amrize inside

  67. Slide 67: Why Invest in Amrize

    AMRIZE WHY INVEST IN AMRIZE TRACK RECORD OF A UNIQUE INVESTMENT DRIVING SHAREHOLDER PROFITABLE GROWTH OPPORTUNITY VALUE $11.7B ~13% 1 100% focus on the North America market Mid-Term Financial Targets FY 2025 - FY 2028 2024 Revenues Revenue CAGR 2021-24 Unparalleled footprint and 2 resources 5 - 8% 8

  68. Slide 68: Non GAAP Reconciliations

    NON GAAP RECONCILIATIONS For the years ended December 31, (1) Other non-operating income (expense), net primarily consists (In millions, except for percentage data) 2024 2023 2022 2021 of costs related to pension and other postretirement benefit Net income $1,273 $​955 $1,107 $843 plans and gains on

  69. Slide 69: © 2025 Amrize. All rights reserved.

    © 2025 Amrize. All rights reserved.

Amrize — Investor Day (March 2025) on 6ix