Slide 1: Cementos Argos 1Q25 Results
Click to edit Master title style 15/05/2025
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: Forward-looking statements disclaimer
Click to edit Master title This document contains forward-looking statements and information related to Cementos style Argos S.A. and its subsidiaries (together referred to as “Argos”) that are based on the knowledge of current facts, expectations and projections, circumstances and assumptions of fu
Slide 4: 2025Q1 Milestones
2025Q1 Milestones Shares Shares Shares Portfolio Spin-off of Grupo Sura portfolio approved by 1 bondholders and + shareholders. 2 Estimated distribution of COP 2.2 trillion to shareholders 17% COP 2.2Tn Dividend Yield Distribution COP 1Tn + COP 1.2Tn 50% base / 50% extraordinary Grupo Sura Portfolio
Slide 5: 1 Sprint
Slide 6: SPRINT 3.0 – +260% Market Cap. growth since Sprint launch
SPRINT 3.0 – +260% Market Cap. growth since Sprint launch 25/11/2024 Market 22/02/2023 capitalization 30/08/2024 22/02/2023 27/09/2023 06/05/2024 22/09/2024 Since the launch of Market 07/09/2023 , the total capitalization shareholder return (TSR) in U.S. dollars of the common stock has been *Figures
Slide 7: 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 • EBITDA margin of 21% in 1Q25, we remain committed to our guidance of >25% within 2 Tangible progress in trading volumes and price years performance has positioned us well for • ROCE target betw
Slide 8: SPRINT 3.0 - Spin-Off to be completed in 2025H2
SPRINT 3.0 - Spin-Off to be completed in 2025H2 SPRINT 5 Disposal of our Grupo Sura shares 3.0 Timeline March 21st April 9th Bondholders’ approval in the Filing of the application for the annual meeting, with an 89.6% spin-off authorization before acceptance rate based on Superintendencia Financiera
Slide 9: SPRINT 3.0 - Rebuilding the U.S. Platform
SPRINT 3.0 - Rebuilding the U.S. Platform SPRINT 3.0 6 Growth strategy Rebuilding Our U.S. Platform with Strategic Firepower Financial Position and Timing Advantage: Targeting a platform capable of generating ▪ USD 2.9B in cash proceeds from the Summit transaction provides the USD 300M in annual EBI
Slide 10: 2 Consolidated Results
Slide 11: 1Q25 – First quarter demonstrating resiliency in a complex global context
1Q25 – First quarter demonstrating resiliency in a complex global context Quarter Figures Key Figures - Adjusted QUARTER YTD COP billion 2024.Q1 2025.Q1 Var 2024.Q1 2025.Q1 Var COP 1.2 Tn COP 258 Bn Revenue Ebitda 1.311 291 1.231 258 -6,1% -11,3% 1.311 291 1.231 258 -6,1% -11,3% Ebitda Margin 22,2%
Slide 12: 3 Colombia Region
Slide 13: Colombia quarter figures
Quarter Figures Key Figures - Adjusted QUARTER YTD COP billion 2024.Q1 2025.Q1 Var 2024.Q1 2025.Q1 Var -13.4 % -46 bps Revenue 742 654 -11,8% 742 654 -11,8% Ebitda 197 171 -13,4% 197 171 -13,4% Ebitda Margin 26,5% 26,1% -46 bps 26,5% 26,1% -46 bps EBITDA YoY EBITDA MARGIN YoY Volumes - Adjusted QUAR
Slide 14: Argos
o ARGOS
Slide 15: Quarter Figures
Quarter Figures -15.4 % +4.1 % Key Figures - Adjusted QUARTER YTD USD million 2024.Q1 2025.Q1 Var 2024.Q1 2025.Q1 Var Revenue 144 137 -4,9% 144 137 -4,9% EBITDA YoY CEMENT VOLS YoY Central America 66 62 -5,7% 66 62 -5,7% Caribbean 63 66 5,5% 63 66 5,5% Trading* 16 9 -43,1% 16 9 -43,1% Ebitda 34 29 -
Slide 16: Argos
ARGOS
Slide 17: Goal 2025 vs Actual 1Q2025
GOAL 2025 ACTUAL 1Q2025 Mid-term guidance: Within the next 2 years Mid-term guidance: Within the next 2 years Negative due to the strong cash position from the sale of our stake in Summit Materials *Figures include YTD adjustments.
Slide 18: 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
Slide 19: Appendix
ARGOS
Slide 20: Debt, leverage and cost of debt
Net Debt / (EBITDA + Dividends received) EBITDA / Financial Expenses ▪ Indebtedness ratio closed at 2.0x for the quarter due to a slight EBITDA reduction 6,0x 5,9x 5,9x 5,0x 4,4x 4,6x 4,5x 4,2x 4,1x 3,9x ▪ Net debt/EBITDA stands at -7.6x, reflecting 3,8x 3,8x 2,8x 2,2x 2,0x our strong cash position
Slide 21: Argos
o ARGOS
Slide 22: Figures non-adjusted
Revenue EBITDA COP billion 2024.Q1 2025.Q1 Var 2024.Q1 Mgn (%) 2025.Q1 Mgn (%) Var pbs Colombia 742 654 -11,8% ActualTotalCOPColombiaEBITDA 197 26,5% 171IFRS16 26,1% with -46 CCA 566 575 1,6% 134 23,6% 121 21,0% -261 Central America 257 259 0,8% ActualTotalCOPCEAMEBITDA 71 27,5% with IFRS16 54 20,7%
Slide 23: Net income adjustments reconciliation
Consolidated level: • Net income in 1Q2025 adjusted by the one-time Gain on sale from the divestment of the 31% stake in Summit Materials along with non-recurring expenses and income tax. • Equity method gains/losses from discontinued operations are excluded in 1Q2024 to ensure YoY comparability. QU
Slide 24: Income statement YTD March 25
YTD March 25 YTD March 24 Var.% Income from operations 293.776 334.454 -12,2 Variable costs (218.353) (249.201) -12,4 Cost of sales (196.365) (227.246) -13,6 Depreciation and amortization (21.988) (21.955) 0,2 Gross profit 75.423 85.253 -11,5 Gross margin 25,7% 25,5% Operational Expenses (39.140) (4
Slide 25: Cash flow notes and reconciliations
COP – Billion Notes and Reconciliations vs Accounting 4 5 6 1.065 12.318 method 11.696 11.523 11.253 -297 -270 Gain on sale from the divestment of the 31% stake 1 in Summit Materials net of transaction fees and other adjustments, along with other non-recurring non-cash items from discontinuous opera