Cementos Argos Sa · BVC:CEMARGOS
Cementos Argos Sa — Q3 2025 Earnings Presentation
26 slides from Cementos Argos Sa's earnings presentation, Nov 12, 2025
Slide 1: Cementos Argos 3Q25 Results
Cementos Argos Click to edit Master title style 3Q25 Results 11/12/2025
Slide 2: Presenters
Click to edit Master title style Juan Esteban Calle Felipe Aristizabal Maria Isabel Echeverri CEO CFO VP of Legal Affairs Gustavo Uribe Carlos Yusty Leader of Central America VP of the Colombia Division
Slide 3: Disclaimer
Disclaimer Click to edit Master title This document contains forward-looking statements and information related to Cementos Argosstyle S.A. and its subsidiaries (together referred to as “Argos”) that are based on the knowledge of current facts, expectations and projections, circumstances and assumpt
Slide 4: Highlights – 3Q25
X Detailed in Financial Results X Detailed next Click to edit Master title Highlights – 3Q25 style A B C Solid operating Relevant progress in Historical buy-back results U.S. market reentry of USD 230 million • Volume growth across all our • Initiated commercial • Shareholders meeting operations (+7
Slide 5: We successfully launched Argos Materials, our proprietary aggregates platform in the U.S.
B. We successfully launched Argos Materials, our proprietary aggregates platform in the U.S., expected to generate ~USD 200 million in EBITDA We have unique access to aggregate sources and logistic assets We are following a rigorous execution plan with the goal of that enable a multi-origin, multi-p
Slide 6: We will complete a historical USD 230 million buy back
C. We will complete a historical USD 230 million buy back, reinforcing our commitment of value creation for our shareholders without affecting our strong financial position Context Main terms of the buy back offer On September 30th, 2025, the Shareholders’ Meeting of Cementos 1 Maximum buyback amoun
Slide 7: 1 Sprint
Slide 8: Since the Sprint launch, total shareholder return has reached 554% in USD
Since the Sprint launch, total shareholder return has reached 554% in USD USD 230 M share MSCI Small Cap Index repurchase announcement Inclusion Market Sale of Summit's 11/07/2025 capitalization 30/08/2024 SPRINT 2.0 SPRINT Launch 22/02/2024 Stake to Quikrete 25/11/2024 Grupo Sura Shares Spin- Off U
Slide 9: SPRINT 3.0 – Execution advancing in line with the plan
SPRINT 3.0 – Execution advancing in line with the plan Operational and financial results Stock liquidity We are on track to exceed our 25% EBITDA margin We continue advancing toward inclusion in the MSCI guidance one year ahead of plan, reaching 24% year-to- Emerging Markets Standard Index, supporte
Slide 10: 2 Consolidated Results
Slide 11: 3Q25 – Improved market dynamics and further margin expansion
3Q25 – Improved market dynamics and further margin expansion EBITDA Margin % Change Cement Vol. (000’s MT) RMX Vol . (000s m3) Revenues (COP MM) EBITDA (COP MM) 23.7% 27.4% 22.2% 23.9% +7.5% -0.4% -7.9% -15.7% +2.3% -2.8% +18.2% +4.6% 7,016 6,991 3,991 3,881 1,988 1,675 887 928 1,336 1,366 2,293 2,4
Slide 12: 3 Colombia Region
Slide 13: 3Q25 – Colombia
3Q25 – Colombia EBITDA Margin % Change Cement Vol. (000’s MT) RMX Vol. (000’s m3) Revenues (COP MM) EBITDA (COP MM) 28.5% 30.7% 25.9% 27.6% +3.2% -6.1% -8.7% -14.2% +4.3% -4.9% +12.3% +1.6% 2,230 2,122 4,012 3,767 1,834 1,574 577 586 744 776 1,354 1,398 618 565 212 238 3Q YTD 3Q YTD 3Q YTD 3Q YTD 20
Slide 14: Argos
o ARGOS
Slide 15: 3Q25 - Caribbean and Central America
3Q25 - Caribbean and Central America EBITDA Margin % Change Cement Vol. (000’s MT) RMX Vol. (000’s m3) Revenues (USD M) EBITDA (USD M) 24.5% 27.9% 24.4% 25.3% +13.7% +7.3% +4.8% -34.1% +1.8% -3.2% +15.7% +0.4% 3,224 3,004 435 421 154 106 107 938 1,066 101 141 144 36 37 35 40 3Q YTD 3Q YTD 3Q YTD 3Q
Slide 16: Argos
ARGOS
Slide 17: Guidance 2025
GUIDANCE 2025 GOAL 2025 YTD 3Q2025 EBITDA margin >25% 23.9% Mid-term guidance: Within the next 2 years ROCE 14-15% 15.7% LTM USD USD CAPEX 70 – 90 m 49.3 m COP COP EBITDA ADJUSTED 1.20 – 1.25 Tn 928 Bn NET DEBT/ EBITDA 2.0x -6.7x Negative due to the strong cash position from the sale of our Mid-term
Slide 18: a) aa? (4 <
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Slide 19: Debt Profile
Debt Profile Net Debt / (EBITDA + Dividends received) EBITDA / Net financial Expense 18.2x ▪ Coverage ratio1 closed at 18x for the quarter due to the interest income generated by Summit Materials Divestment cash position. 6.9x 5.9x 6.1x 5.0x 4.8x 4.6x 3.9x 4.5x 4.1x 4.1x 3.2x 2.6x 2.7x ▪ Net debt/EB
Slide 20: Appendix
o ARGOS APPENDIX
Slide 21: Detailed adjusted figures
Detailed adjusted figures Consolidated: Central America & Caribbean: Key Figures - Adjusted QUARTER YTD COP billion 2024.Q3 2025.Q3 Var 2024.Q3 2025.Q3 Var Revenue 1,336 1,366 2.3% 3,991 3,881 -2.8% Key Figures - Adjusted QUARTER YTD Ebitda 317 374 18.2% 887 928 4.6% USD million 2024.Q3 2025.Q3 Var
Slide 22: IFRS results per regional / other businesses
IFRS results per regional / other businesses Revenue EBITDA COP billion 2024.Q3 2025.Q3 Var 2024.Q3 Mgn (%) 2025.Q3 Mgn (%) Var pbs Colombia 744 776 4.3% ActualTotalCOPColombiaEBITDA 212 28.5% with IFRS16 232 29.9% 133 CCA 579 574 -0.8% 145 25.0% 162 28.2% 322 Central America 257 258 0.5% ActualTota
Slide 23: Reconciliation figures
QUARTER YTD Consolidated 2024.Q3 2025.Q3 2024.Q3 2025.Q2 Cement Volume TON 2,197 2,325 6,600 6,513 Reconciliation figures Third party traded volumes TON 95 140 415 478 Cement Volume - Adjusted TON 2,293 2,465 7,016 6,991 Consolidated QUARTER YTD Consolidated: 2024.Q3 2025.Q3 2024.Q3 2025.Q2 • Net in
Slide 24: Income statement in USD thousands
Income statement in USD thousands YTD September YTD September 24 Var.% 25 Income from operations 939,793 1,002,480 -6.3 Variable costs (681,517) (745,420) -8.6 Cost of sales (614,669) (670,522) -8.3 Depreciation and amortization (66,848) (74,898) -10.7 Gross profit 258,276 257,060 0.5 Gross margin 2
Slide 25: 3Q25 Consolidated Cash flow
3Q25 Consolidated Cash flow COP – Billion 4 5 6 Notes and Reconciliations vs Accounting 11,669 method 11,146 1,065 11,282 -1,252 1 Gain from the divestment of the 31% stake in Summit 10,217 -929 Materials, net of transaction fees and other adjustments, along with other non-recurring or non- cash ite
Slide 26: Investor relations contacts
Carolina Velásquez carolina.velasquez@argos.com.co Juan Santiago Alba juan.alba@argos.com.co IR Website https://argos.co/en/ir/ This recognition, called Reconocimiento Emisores – IR is given by the Colombian Stock Exchange, Bolsa de Valores de Colombia S.A. It is not a recognition that certifies the