Slide 1: 2026 Interim Results
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX SIGMAROC 2026 INTERIM RESULTS Photo: A face shovel at dusk. Dolomitas’ Petrašiūnai quarry, Pakruojis, Lithuania SIGMAROC 2026 INTERIM RESULTS
Slide 2: Agenda
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX AGENDA 01 | GROUP PERFORMANCE Max Vermorken, CEO 02 | FINANCE Jan Van Beek, CFO 03 | STRATEGIC DELIVERY Max Vermorken, CEO 04 | OUTLOOK Max Vermorken, CEO Photo: Rail Baltica, construction of rail lines SIGMAROC 2026 INTERIM RESULTS 2
Slide 3: Overview: A Strong First Half
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX OVERVIEW: A STRONG FIRST HALF INTERIMS STRATEGIC DELIVERY Strong results with EBITDA up 11.3% and EPS up 12.2% → Operational excellence driving margins EBITDA margin 25.1%, up 200bps → Major dolomitic limestone acquisition2 Balance sheet
Slide 4: Agreed Acquisition: Lithuania's Largest Dolomitic Limestone Producer
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX AGREED ACQUISITION: LITHUANIA’S LARGEST DOLOMITIC LIMESTONE PRODUCER SigmaRoc footprint Dolomitas sites Dolomitic limestone c. 3.5 Mt c. 45 years High-grade specialist producer Average production Reserves and resources Construction, indus
Slide 5: Group Performance
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX 01 GROUP PERFORMANCE SIGMAROC 2026 INTERIM RESULTS 5
Slide 6: EBITDA Growth Across All Regions
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX EBITDA GROWTH ACROSS ALL REGIONS 25% 44% 6% 25% GROUP UK & IRELAND WESTERN EUROPE NORDICS CENTRAL EUROPE Revenue Revenue Revenue Revenue Revenue £523m £130.8m £33.8m £129.9m £228.6m +2.5% YoY -1% YoY +7% YoY +7% YoY +2% YoY EBITDA EBITDA
Slide 7: Strong Growth from Industrial and Environmental Sectors
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX STRONG GROWTH FROM INDUSTRIAL AND ENVIRONMENTAL SECTORS +12% YoY1 +7% YoY1 -6% YoY1 INDUSTRY ENVIRONMENT CONSTRUCTION Revenue £191m Revenue £115m Revenue £217m Group Revenue % 36% Group Revenue % 22% Group Revenue % 42% Steel § Showing si
Slide 8: Core Volumes Up 1%, Overall Volumes Include Discontinued Business
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX CORE VOLUMES UP 1%, OVERALL VOLUMES INCLUDE DISCONTINUED BUSINESS +2% YoY1 +11% YoY1 -2% YoY1 HIGH-GRADE MINERALS AGGREGATES AND STONE2 VALUE-ADDED PRODUCTS Revenue £362m Revenue £76m Revenue £86m Group Revenue % 69.2% Group Revenue % 14.
Slide 9: Finance
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX 02 FINANCE SIGMAROC 2026 INTERIM RESULTS 9
Slide 10: Strong H1 Performance
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX STRONG H1 26 PERFORMANCE REVENUE EBITDA EBITDA MARGIN EPS £523.1m £131.2m 25.1% 5.23p +2.5% YoY +11.3% YoY +200bps YoY +12.2% YoY LTM ROIC1 NET DEBT LEVERAGE FCF CONVERSION 11.8% £462.6m 1.66x 51.1% +50bps YoY -7.2% YoY -18.7% YoY -140bps
Slide 11: Margin Expansion Demonstrates Positive Attributes of a Lime Business
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX MARGIN EXPANSION DEMONSTRATES POSITIVE ATTRIBUTES OF A LIME BUSINESS REVENUE (£m) UNDERLYING EBITDA (£m) UNDERLYING EBITDA MARGIN (%) H1 26 523 H1 26 131 H1 26 25.1 H1 25 510 H1 25 118 H1 25 23.1 CAGR CAGR H1 24 515 H1 24 116 H1 24 22.5 +
Slide 12: EBITDA Driven by Focus on Operational Excellence
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX EBITDA DRIVEN BY FOCUS ON OPERATIONAL EXCELLENCE H1 26 REVENUE BRIDGE H1 26 UNDERLYING EBITDA BRIDGE (£m) (£m) 8.2 523.1 4.8 131.2 (0.8) 2.3 3.0 6.8 0.3 1.3 510.3 1.2 117.8 (0.9) H1 25 UK & WE Nordics CE Other & FX H1 26 H1 25 UK & WE Nor
Slide 13: Active Management Shaped Performance Despite Macro Headwinds
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX ACTIVE MANAGEMENT SHAPED PERFORMANCE DESPITE MACRO HEADWINDS H1 26 PROFORMA EBITDA BRIDGE § Core volumes up in steel and construction aggs (£m) 4.8 § Overall volumes include discontinued business 131.2 5.0 (1.1) 8.0 § Pricing positively o
Slide 14: Underlying Profit Up 11.3%, EPS Up 12.2%
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX UNDERLYING PROFIT UP 11.3%, EPS UP 12.2% - ON REVENUE UP 2.5% 6 months to 30 6 months to 30 RECONCILIATION: UNDERLYING EBITDA TO UNDERLYING CONTINUING & DISCONTINUED OPERATIONS June 2026 June 2025 NET PROFIT (£m) (£m) (£m) REVENUE 523.1 5
Slide 15: Energy Exposure Managed, Structurally Lower Intensity Than Peers
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX ENERGY EXPOSURE MANAGED, STRUCTURALLY LOWER INTENSITY THAN PEERS MARGINS ROSE THROUGH TWO ENERGY SHOCKS LESS CARBON AND ENERGY INTENSIVE THAN PEERS H1 25 → H1 26 +200bps Middle East 2025 ENERGY INTENSITY 2025 CARBON INTENSITY (GWh per £m
Slide 16: Lime Positive for Long Term Margins
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX LIME POSITIVE FOR LONG TERM MARGINS INDEPENDENTLY MANAGED LIME BUSINESSES PRE ACQUISITION BY SRC1 SRC GROUP2 EBITDA MARGIN (%) EBITDA MARGIN (%) CRH LIME ONLY - AVERAGE 22%1 NORDKALK 25.3 23 23 23 23 22.5 22 22 22 22 22 22 21 20 20.0 19 1
Slide 17: 51% FCF Conversion Pre Growth Capex
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX 51% FCF CONVERSION PRE GROWTH CAPEX… H1 26 FREE CASH FLOW FCF FCF (£m) CONVERSION CONVERSION COST OF PRE GROWTH POST GROWTH DEBT CAPEX CAPEX § Ownership of majority of input material 4.4% 51% 46% § Net working capital runs between 6-12% o
Slide 18: With De-Gearing Continuing as Expected
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX … WITH DE-GEARING CONTINUING AS EXPECTED H1 26 DEBT BRIDGE (£m) FY 25 1H 26 1.8x 1.66x 472.4 LEVERAGE 6.5 462.6 TARGET 17.2 10.0 8.8 1.5x – 2.0x 7.7 (60.0) Opening Net Debt Underlying FCF IFRS16 Leases Non-Underlying EBT Share Refi Impact
Slide 19: Strategic Delivery
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX 03 STRATEGIC DELIVERY SIGMAROC 2026 INTERIM RESULTS 19
Slide 20: Delivering Against Our CMD Targets
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX DELIVERING AGAINST OUR CMD TARGETS OBJECTIVES DELIVERY TO DATE OPERATIONAL EXCELLENCE Programme complete. Margins up 200bps, with more to come Finish the synergy programme, then keep improving ORGANIC INVESTMENT 64mt permitted at Klinthag
Slide 21: Track Record of Growth Aided by Disciplined M&A Approach
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX TRACK RECORD OF GROWTH AIDED BY DISCIPLINED M&A APPROACH EBITDA ACQUIRED AND MULTIPLE PAID 2024 2025 2026 BUILDING IMPROVE & BACK TO M&A, A LEADER INTEGRATE FUNDED INTERNALLY SYNERGIES / DOLOMITAS 6.0X BETON 3.4X CRH GROWTH BALTIC DEALS 3
Slide 22: Agreed Acquisition: Established Dolomitic Limestone Producer in the Baltics
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX AGREED ACQUISITION: AN ESTABLISHED DOLOMITIC LIMESTONE PRODUCER IN THE BALTICS c. 3.5 Mt €70m €18m c. 45 years 6.0x Q4 2026 AVERAGE PRODUCTION 2025 REVENUE 2025 EBITDA RESERVES AND RESOURCES EBITDA MULTIPLE EXPECTED COMPLETION SigmaRoc fo
Slide 23: Dolime vs Lime: The Magnesium Difference
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX DOLIME VS LIME: THE MAGNESIUM DIFFERENCE LIME DOLIME Limestone (CaCO₃) → quicklime (CaO) vs Dolomitic limestone (CaMg(CO₃)₂) → dolime (CaO·MgO) The workhorse flux: steel, water, soil Specified where the process needs magnesium DOLIME… PRO
Slide 24: Dolime: A Growing Market That Rewards Permitted Reserves
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX DOLIME: A GROWING MARKET THAT REWARDS PERMITTED RESERVES GLOBAL DOLOMITE DEMAND1 (million tonnes) STEEL LEADS DEMAND Metallurgy is the largest end-use; EAF expansion = growth driver +4% p.a. 239 199 REGULATION PULLS, PERMITS CONSTRAIN Lan
Slide 25: Dolime Gearing Up for Europe's Green Steel Build-Out
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX DOLIME GEARING UP FOR EUROPE’S GREEN STEEL BUILD-OUT DUE GREEN STEEL PROJECTS CAPACITY SRC’s dolime production sites 2026 Gijón Spain 1.1 Mt SRC’s dolomitic limestone quarries Dolomitas operations 2027 Oxelösund Sweden 1.5 Mt Operating EA
Slide 26: Outlook
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX 04 OUTLOOK SIGMAROC 2026 INTERIM RESULTS 26
Slide 27: Outlook
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX OUTLOOK OUR BUSINESS → Scarce, high-quality mineral reserves — decades deep, next to demand → A predictable, through-cycle commercial and financial profile → Positioned for Europe's re-industrialisation and infrastructure tailwinds H2 mil
Slide 28: Q&A
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX Q&A SIGMAROC 2026 INTERIM RESULTS 28
Slide 29: Appendix
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX 05 APPENDIX SIGMAROC 2026 INTERIM RESULTS 29
Slide 30: The SigmaRoc Investment Case
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX THE SIGMAROC INVESTMENT CASE → Local, high-barrier, non-substitutable product, hedges and pass-throughs Protected market leadership → Resilience from diversified end-markets across geographies → Green steel, electrification, waste-to-ener
Slide 31: Shareholder Information
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX SHAREHOLDER INFORMATION TOP 10 SHAREHOLDERS (JUNE 2026) % OF ISSUED SHARE CAPITAL REGION OF SHAREHOLDER (JUNE 2026) FMR LLC 10.0% 11% 5% Europe ROW Capital Group 8.0% Driehaus 3.5% Columbia Threadneedle 3.2% 39% 45% North America UK Janus
Slide 32: Disciplined Capital Allocation to Deliver 2025–30 Targets
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX DISCIPLINED CAPITAL ALLOCATION TO DELIVER 2025–30 TARGETS 2025-2030 TARGETS ORGANIC REVENUE EBITDA MARGIN FCF CASH LEVERAGE ROIC SAFETY: LTIFR1 GROWTH CONVERSION REDUCTION 3-5% >24% >50% 1.5-2.0X >15% 10% p.a. CAPITAL ALLOCATION RANKED BY
Slide 33: Investment Grade €825m Financing Facility Now in Place
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX INVESTMENT GRADE €825m FINANCING FACILITY NOW IN PLACE FROM TO 01| § €600m total capacity § €825m capacity plus €300m accordion Capacity § Term-loan driven structure § Flexible RCF led structure 02| Cost § Acquisition facility § Investmen
Slide 34: Indications of Recovery
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX INDICATIONS OF RECOVERY INDUSTRY ENVIRONMENT CONSTRUCTION Group Revenue % 36% Group Revenue % 22% Group Revenue % 42% INDUSTRIAL PRODUCTION1 EU GDP, CURRENT PRICES2 CONSTRUCTION OUTPUT, EXCL. RMI3 READY TO CAPTURE 2011=100 2011=100 2011=1
Slide 35: Intro Slides
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX 06 INTRO SLIDES SIGMAROC 2026 INTERIM RESULTS 35
Slide 36: SigmaRoc: Leading European Minerals and Lime Platform
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX SIGMAROC: LEADING EUROPEAN MINERALS AND LIME PLATFORM 2016 - 2018 2019 - 2022 2023 - today UK construction materials platform Accelerated North & Western European Pan-European lime and limestone developed (IPO and Holcim carve-out) expans
Slide 37: SigmaRoc #1 or #2 in All Key Locations
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX SIGMAROC #1 OR #2 IN ALL KEY LOCATIONS No.1 in Sweden UK & Ireland No.1 in Norway Western Europe No.1 in Finland Central Europe Nordics Site clusters No.1 in Belgium No.1 in Ireland No.2 in Germany No.1 in the UK No.2 in Poland No.1 in th
Slide 38: Structural Support for Lime and Limestone Demand in Europe
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX STRUCTURAL SUPPORT FOR LIME AND LIMESTONE DEMAND IN EUROPE WHAT WE DO … … IS MORE NEEDED THAN EVER § Housing shortage WE HELP § Critical infrastructure BUILD INFRASTRUCTURE AND HOMES § Data centres 42% of revenue § Re-industrialisation WE
Slide 39: Diversification Across End-Markets & Regions Drives Stability
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX DIVERSIFICATION ACROSS END-MARKETS & REGIONS DRIVES STABILITY THROUGH CYCLES INDUSTRY CONSTRUCTION & ENGINEERING ENVIRONMENT & FOOD PULP & PAPER CHEMICALS STEEL CONSTRUCTION ENVIRONMENT AGRICULTURE § Cellulose extraction § Direct input §
Slide 40: Scarce, Long-Life Assets with High Barriers to Entry
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX SCARCE, LONG-LIFE ASSETS WITH HIGH BARRIERS TO ENTRY Core markets § 110 sites Non-core markets Strategically located reserves across core European markets Kilns and processing plants § 2.7Bt reserves Quarries Long-term supply certainty Ot
Slide 41: Lime and Limestone: Critical, Non-Substitutable Inputs
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX LIME AND LIMESTONE: CRITICAL, NON-SUBSTITUTABLE INPUTS TO MANY END-MARKETS H1 26 REVENUE BY END-MARKET Agriculture § Used in 100+ applications Water Infrastructure § Few viable substitutes at scale Flue Gas § Deeply embedded in customers’
Slide 42: Earnings Resilience: Essential Products + Protected Cost Base
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX EARNINGS RESILIENCE: ESSENTIAL PRODUCTS + PROTECTED COST BASE RESILIENT DEMAND / ESSENTIAL PRODUCT PROTECTED COST BASE + Critical to end applications + Main input owned No substitutes for most use cases Secured via 2.7Bt reserves + Immate
Slide 43: Deeply Embedded in Customer Processes
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX DEEPLY EMBEDDED IN CUSTOMER PROCESSES 01. Tailored product portfolio 02. Integrated in operations 03. Sticky demand % sales per lime & limestone SKUs Share of revenue per relationship duration Examples 2% 12% 9% 10% § Swedish industrial f
Slide 44: Proven Value Creation Through M&A
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX PROVEN VALUE CREATION THROUGH M&A EBITDA ACQUIRED AND MULTIPLE PAID CRH LIME AND LIMESTONE AVERAGE 27% CRH DEALS DIVESTMENTS EBITDA IMPROVEMENT 2023-20251 5.7X 7.0X BETON SYNERGIES / 3.4X GROWTH NORDKALK LIME AND LIMESTONE BALTIC 3.7X BJO
Slide 45: Significant Remaining M&A Runway for Lime and Limestone
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX SIGNIFICANT REMAINING M&A RUNWAY FOR LIME AND LIMESTONE LIME LIMESTONE Opportunity to further consolidate European market No limit to growth Market share in Europe Core markets Non-core markets SigmaRoc market share1 SRC lime operations a
Slide 46: Structural Shifts Already Tangible Across Key Markets
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX STRUCTURAL SHIFTS ALREADY TANGIBLE ACROSS KEY MARKETS INFRASTRUCTURE RESI. CONSTRUCTION 40% of group 46% of group 500b€ sales in Germany and Poland 9.6m sales in Construction German stimulus programme Units of housing shortfall in Europe1
Slide 47: Strong and Predictable Free Cash Flow
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX STRONG AND PREDICTABLE FREE CASH FLOW § Owned assets >50% average cash conversion since 2008 § Earnings stability 2025 FREE CASH FLOW § Diversified end-markets - Working capital - Tax + Stable working capital requirements - Maintenance Ca
Slide 48: Market Data
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX 07 MARKET DATA SIGMAROC 2026 INTERIM RESULTS 48
Slide 49: Recovery in Mortgages Indicates Improving Residential Construction Outlook
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX RECOVERY IN MORTGAGES INDICATES IMPROVING RESIDENTIAL CONSTRUCTION OUTLOOK MORTGAGE APPROVALS BY VALUE – LOCAL CURRENCIES +56% GERMANY1 POLAND1 +66% SWEDEN1 +37% -63% -64% -79% 2018 2019 2020 2021 2022 2023 2024 2025 2026 2018 2019 2020 2
Slide 50: Germany: Construction Recovery Taking Shape
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX GROSS VALUE ADDED, 2019 = 100 CONSTRUCTION MANUFACTURING GERMANY: CONSTRUCTION RECOVERY TAKING SHAPE 110 100 90 Construction sector in recession since 2021 80 Post-pandemic, Ukraine war, ECB rate hikes, regulatory uncertainty 70 2015 2016
Slide 51: Germany Stimulus: Significant Political Impact
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX GERMANY STIMULUS: SIGNIFICANT POLITICAL IMPACT BUDGET ALLOCATION FROM FUND2 (€’b) 59 57 58 60 Roads, bridges, railway 2027 GERMAN TOTAL 21 20 20 20 Digitisation INFRASTRUCTURE UPLIFT1 37 12 9 9 9 9 Other c. 20% 4 3 11 10 11 13 Federal sta
Slide 52: Construction Confidence: Tentative Signs of Recovery in Most Key Regions
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX CONSTRUCTION CONFIDENCE: TENTATIVE SIGNS OF RECOVERY IN MOST KEY REGIONS GERMANY CONSTRUCTION CONFIDENCE1 POLAND CONSTRUCTION CONFIDENCE1 FINLAND CONSTRUCTION CONFIDENCE1 25 0 20 20 10 15 -10 0 10 -20 -10 5 0 -20 -30 -5 -30 -10 -40 -40 -1
Slide 53: Perspective on Ukraine: Key Facts
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX PERSPECTIVE ON UKRAINE: 3 KEY FACTS 1. UNPRECEDENTED RECONSTRUCTION 2. LIME IMPORTS NEEDED 3. SIGMAROC STRATEGICALLY LOCATED DEMAND TO RECOVER TO PRE-WAR DEMAND TO HELP SUPPLY >$170b c. 70% VOLUME OF LIME IMPORTED Polish and Czech sites B
Slide 54: 6 Heddon Street, London, W1B 4BT, United Kingdom info@sigmaroc.com
GROUP PERFORMANCE FINANCE STRATEGIC DELIVERY OUTLOOK APPENDIX 6 Heddon Street, London, W1B 4BT, United Kingdom +44 207 129 78 28 info@sigmaroc.com SIGMAROC 2026 INTERIM RESULTS 54