Grupo Argos S.a. · BVC:GRUPOARGOS
Grupo Argos — Q4 2025 Earnings Presentation
32 slides from Grupo Argos's earnings presentation, March 2026
Slide 1: Results Presentation Fourth Quarter 2025
Results Presentation Fourth Quarter 2025 March 2026 1 March 2026
Slide 2: Disclaimer
Resultados Primer Trimestre del 2019 QUARTERLY RESULTS PRESENTATION Disclaimer This presentation contains certain forward-looking representations and information related to GRUPO ARGOS and its subordinate companies based on currently known facts, expectations and forecasts, circumstances, and assump
Slide 3: Over 45% in value created for shareholders since January 2025
GRUPO ARGOS RESULTS 4Q2025 Over 45% in value created for shareholders since January 2025 Grupo Argos Ordinary Share Grupo Argos Preferential Share 22,854 29,718 18,580 24,800 15,500 10,034 20,480 12,738 24,800 18,580 20,480 15,500 16,980 12,820 1-ene-25 Pre-Escisión Post-Escisión 1-ene-25 Pre-Escisi
Slide 4: Grupo Argos has moved towards a simpler structure that will empower its future
GRUPO ARGOS RESULTS 4Q2025 Grupo Argos has moved towards a simpler structure that will empower its future. This has gone hand in hand with increased shareholder value. Operations Performed Portfolio Evolution (trillions of COP)* May-Jun 2023 Madrid Agreement (MOU and Framework Agreement) 15.1 Feb 20
Slide 5: A COP 16.8 trillion portfolio that provides flexibility to capture growth opportunities
GRUPO ARGOS RESULTS 4Q2025 A COP 16.8 trillion portfolio that provides Grupo Argos shareholders with flexibility to capture growth opportunities Pactia; 1.0 Others; 0.2 Real Estate Business; 2.1 CemArgos; 8.2 We highlight the flexibility of Grupo Argos’ balance sheet and view Cementos Argos’ cash po
Slide 6: Investor Day | What do we want for 2030?
GRUPO ARGOS RESULTS 4Q2025 Investor Day | What do we want for 2030? Current 2030 Target Multiply the value of our Arbitrage price per portfolio share (COP) $ 21,000/share + $ 40,000/share 1.9x Multiply distributions Dividend per Share $ 688/share $ 1,000/share to shareholders (COP) ($ 443 of infra1)
Slide 7: Grupo Argos has implemented a buyback program for more than 1.9 trillion
GRUPO ARGOS RESULTS 4Q2025 Grupo Argos has implemented a buyback program for more than 1.9 trillion that has consistently generated shareholder value since its approval in 2023 Buyback Program Average Purchase Value Created Increase in Px since Amount executed Increase Evolution Price (COP mn) 1 buy
Slide 8: Non-recurring events arising from strategic transactions
GRUPO ARGOS RESULTS 4Q2025 Non-recurring events arising from the materialization of strategic transactions for Grupo Argos 2025 2024 1. First, the company booked COP 2.0 trillion in profit from the sale of the shares that Cementos Argos held in Summit 1. During the first half of last year, the Compa
Slide 9: Consolidated net income tripled year over year
GRUPO ARGOS RESULTS 4Q2025 Consolidated net income tripled year over year Adjusted Figures - Proforma Net income controlling Revenue EBITDA Net Income interest Figures in COP tn Figures in COP tn Figures in COP bn Figures in COP bn -12% +14% +16% +13% +243% +2388% 423 1,075 12.8 3.1 11.3 2.7 313 17
Slide 10: Separated figures from business operations grow year-over-year
GRUPO ARGOS RESULTS 4Q2025 Separated figures from business operations grow year-over-year Adjusted Figures - Proforma Revenue EBITDA Net Income Figures in COP bn Figures in COP bn Figures in COP bn +86% +297% +1023% 1,015 694 449 544 175 40 4T2024 Dec 24 4T2025 Dec 25 4T2024 Dec 24 4T2025 Dec 25 4T2
Slide 11: Consolidated P&L
GRUPO ARGOS RESULTS 4Q2025 Consolidated P&L 11 March 2026
Slide 12: Separated Results P&L
GRUPO ARGOS RESULTS 4Q2025 Separated Results P&L 12 March 2026
Slide 13: Operating Results – Grupo Argos Businesses
Operating Results – Grupo Argos Businesses Cement Infra Portfolio 13 March 2026
Slide 14: CemArgos: Consolidated profitability and new strategic phase
GRUPO ARGOS RESULTS 4Q2025 CemArgos: Consolidated profitability and new strategic phase Cement Infra Portfolio Value distribution in 2025 • COP 3.5 billion distributed via dividends, buybacks and spin-off of Grupo Sura. Argos Materials: Aggregates platform and strategic U.S. re-entry • Aggregates pl
Slide 15: CemArgos: Cement and RMX volume recovery
GRUPO ARGOS RESULTS 4Q2025 CemArgos: Cement and RMX volume recovery Cement Infra Portfolio Operational Revenue COP bn EBITDA COP bn Cemento Cement RMC 4Q2025 vs 4Q2024 -3% 4Q2025 vs 4Q2024 0.2% 4,000 2,000 (YOY) (YOY) 1,366 361 1,800 $93* $60 3,500 1,308 1,283 1,275 Impairment 1,231 1,600 3,000 3% 1
Slide 16: Celsia: Operational discipline and sustainable value creation
GRUPO ARGOS RESULTS 4Q2025 Celsia: Operational discipline and sustainable value creation Cement Infra Portfolio Climate normalization and renewable expansion in Colombia • Greater water availability allowed for more efficient and profitable generation with reduced thermal requirements. Progress with
Slide 17: Celsia: Improved EBITDA margin explained by increased hydro generation
GRUPO ARGOS RESULTS 4Q2025 Celsia: Improved EBITDA margin explained by increased hydro generation Cement Infra Portfolio Operational Revenue COP bn EBITDA COP bn Generation Generación Sales Comercialización 4Q2025 vs 4Q2024 -37% 4Q2025 vs 4Q2024 -3% (YOY) 2,000 2,000 4% Platform EBITDA* 1,800 1,800
Slide 18: Odinsa: Platform consolidation and asset strengthening
GRUPO ARGOS RESULTS 4Q2025 Odinsa: Platform consolidation and asset strengthening Cement Infra Portfolio Platform consolidation and new hydro vertical • Evolution as an investment platform alongside Macquarie Asset Management in road and airport concessions. • Creation of Odinsa Aguas and signature
Slide 19: Odinsa: Roadway vertical
GRUPO ARGOS RESULTS 4Q2025 Odinsa: Roadway vertical Cement Infra Portfolio Quarterly Results 3% -11% -6% 25% 369 145 116 119 137 69 55 327 4Q2024 4Q2025 4Q2024 4Q2025 4Q2024 4Q2025 4Q2024 4Q2025 TPD (miles) Ingresos (COP k mm) EBITDA (COP k mm) Ut. Neta (COP k mm) ADT (thousands) Revenue (COP bn) EB
Slide 20: Odinsa: Airport Vertical
GRUPO ARGOS RESULTS 4Q2025 Odinsa: Airport Vertical Cement Infra Portfolio Quarterly Results (in USD) +13% +34% +6% -8% 84 22 14 21 12 193 170 62 4Q2024 4Q2025 4Q2024 4Q2025 4Q2024 4Q2025 4Q2024 4Q2025 PAX (mm) Ingresos (USD mm) EBITDA (USD mm) Ut. Neta (USD mm) Net Income (millions of PAX (M) Reven
Slide 21: Pactia: Reduced EBITDA due to asset divestments, income grows 59%
GRUPO ARGOS RESULTS 4Q2025 Pactia: Reduced EBITDA due to asset divestments, however income grows 59% Operational Revenue COP bn EBITDA COP bn AUMs 4Q2025 vs 4Q2024 +32% 4Q2025 vs 4Q2024 +91% COP 3.71 bn (YOY) (YOY) Debt: COP 1.07 bn 63 65.0 Equity: COP 2.64 bn 125.0 113.7 113.7 57.0 57.0 GLA 95 95 6
Slide 22: Real Estate Business: Cash sales of COP 240 bn for the year
GRUPO ARGOS RESULTS 4Q2025 Real Estate Business: Cash sales of COP 240 bn for the year Cement Infra Portfolio Real Estate Business CASH FLOW Dec-25 Dec-24 VAR YOY Sales revenue 240 200 20% Others 8 5 62% REVENUE 249 205 21.2% Costs 92 81 13% GROSS CASH FLOW 156 123 26.4% Expenses 43 34 28% Property
Slide 23: Sofitel: A sophisticated structure that demonstrated Barú's tourist potential
GRUPO ARGOS RESULTS 4Q2025 Sofitel: A sophisticated structure that allowed us to demonstrate Barú’s tourist potential • Attract an anchor to the master plan. • Align investor, developer, operator and landowner interests. • Investment scheme with balanced risk/return and an exit strategy. • Synthetic
Slide 24: Consolidated and separated financial results
Consolidated and separated financial results 24 March 2026
Slide 25: Grupo Argos' sound equity structure supported by a AAA rating ratified by S&P
GRUPO ARGOS RESULTS 4Q2025 Grupo Argos’ sound equity structure supported by a AAA rating ratified by S&P Gross Debt Consolidated COP bn Consolidated Net Debt1 COP bn Net Financial Expenses COP bn 11,026 1,347 9,216 1,575 9,288 134 300 1,293 17 53 1,310 239 5,298 975 781 640 5,514 -110% 4,677 98 4,96
Slide 26: The cost of Grupo Argos' separate debt stands at 7.6%
GRUPO ARGOS RESULTS 4Q2025 The cost of Grupo Argos' separate debt stands at 7.6% Indebtedness1 COP bn Maturity profile (capital) COP bn Cost of debt and half-life COP bn Net Debt = 0.698 tn 370 51% 0% 337 - 14.7% 13.2% 12.4% 11.7% 10.8% 221 4.0 10.5% 10.6% 10.7% 213 3.7 COP 232 3.3 3.4 3.2 10.3% 2.5
Slide 27: Accumulated Cash flow
GRUPO ARGOS RESULTS 4Q2025 Accumulated Cash flow Cash flow Notes COP COP million million 1. Div. received: 1,004,559 Div. Paid: 540.296 COP million 1 Dividendos netos 464,263 2. Income and ICA: 209,7121, W. Tax: 74,617, Land tax: 43,657, Others: 4,746 Ingresos NDU 248,567 3. Financial expenditure 19
Slide 28: Fitch and S&P confirmed Grupo Argos' AAA rating
GRUPO ARGOS RESULTS 4Q2025 Fitch and S&P, in their annual review, confirmed Grupo Argos' AAA rating AAA AAA 1 1 Stable Stable May 2025 May 2025 "Grupo Argos' ratings reflect its solid capital structure" "Solid business position in the markets and geographies where its subsidiaries operate and clarit
Slide 29: Concrete advances in Sustainability: Climate Change
GRUPO ARGOS RESULTS 4Q2025 Concrete advances in Sustainability: Climate Change In this way We are ahead of the 2030 commitments established as a Corporate Group under our Climate Change Strategy -47% reduction in CO₂e emissions intensity per million COP of consolidated revenue as of year-end 2025. T
Slide 30: Awards
GRUPO ARGOS RESULTS 4Q2025 Awards MERCO ESG S&P SUSTAINABILITY YEARBOOK On February 18, we were included in the S&P Sustainability Yearbook due to our performance on that firm’s annual Corporate Sustainability Assessment Grupo Argos consolidated its position in the top 10 Besides Grupo Argos inclusi
Slide 31: www.grupoargos.com
CEO CFO Jorge Mario Velasquez Alejandro Piedrahita Chief Officer for Corporate and Presidential Affairs IR Director Juan Esteban Mejia Carolina Arango (574) 315 8400 (574) 315 8400 jemejia@grupoargos.com carangoz@grupoargos.com www.grupoargos.com 31 March 2026
Slide 32: March 2026
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