Slide 1: Q3 2025 Trading Update
Q3 2025 TRADING UPDATE 24 October 2025 MILJAN GUTOVIC | CEO STEFFEN KINDLER | CFO
Slide 2: Business Review
BUSINESS REVIEW 2 24 October 2025 Q3 2025 TRADING UPDATE
Slide 3: Delivering strong profitable growth in 9M
DELIVERING STRONG PROFITABLE GROWTH IN 9M Accelerated net sales growth – with Q3 up almost 5% – supported by leading CHF 11.9 bn +2.9% in LC 1 positions in highly attractive markets, resilient local-for-local business model, and NET SALES 14 M&A transactions +9.8% in LC1 CHF 2.3 bn Strong recurring
Slide 4: 9M Regional Highlights – Europe
9M REGIONAL HIGHLIGHTS – EUROPE Key financials Recurring EBIT growth of 5.9% in Recurring EBIT margin increase of LC1, reflecting impeccable 130 bps, up in all product lines execution of our strategy Highlights Margin expansion driven by 9 value-accretive acquisitions in high-value strategy and Germ
Slide 5: 9M Regional Highlights – Latin America
9M REGIONAL HIGHLIGHTS – LATIN AMERICA Key financials Strong net sales growth Recurring EBIT margin above 30%, of 10.0% in LC1 including integration costs of newly acquired businesses Highlights ~290 new Disensa stores launched Three acquisitions in Building Solutions to expand our product portfolio
Slide 6: 9M Regional Highlights – Asia, Middle East & Africa
9M REGIONAL HIGHLIGHTS – ASIA, MIDDLE EAST & AFRICA Key financials Net sales growth of 3.2% in LC1 Double-digit increase in recurring EBIT in LC1 – outstanding margin expansion of 240 bps Highlights Strong demand in North Africa Acquisition of BGC2 and divestments of the Nigeria business and Iraq Ka
Slide 7: Net sales growth of 2.9% in LC
NET SALES GROWTH OF 2.9% IN LC 9M Net sales bridge in CHF m and % change +2.9% in LC1 12,192 -0.3% -5.0% 11,906 295 57 -35 -604 9M 2024 Organic growth M&A Large M&A FX 9M 2025 Note: Comparative information in this presentation is restated for discontinued operations 7 24 October 2025 Q3 2025 TRADING
Slide 8: Strong recurring EBIT growth of 9.8% in LC
STRONG RECURRING EBIT GROWTH OF 9.8% IN LC 9M Recurring EBIT bridge in CHF m and % change +9.8% in LC1 2,232 -0.6% -7.3% 2,275 234 -16 -13 -162 9M 2024 Organic growth M&A Large M&A FX 9M 2025 8 24 October 2025 Q3 2025 TRADING UPDATE 1 The growth in local currency excludes currency translation and la
Slide 9: Continued margin expansion
CONTINUED MARGIN EXPANSION 12M Rolling recurring EBIT and margin 18.0% 18.1% 17.7% 2,880 2,881 2,868 Q1 2025 Q2 2025 Q3 2025 12M rolling % 12M rolling recurring EBIT (CHF m) recurring EBIT margin 9 24 October 2025 Q3 2025 TRADING UPDATE
Slide 10: Recurring EBIT growth across all regions
RECURRING EBIT GROWTH ACROSS ALL REGIONS Asia, Middle East & Europe Latin America Africa 17.3% +130 bps 30.8% -300 bps 25.1% +240 bps -1.8% +5.9% +10.0% +0.9% +3.2% +14.7% 6,464 2,798 2,291 1,126 711 737 RECURRING EBIT MARGIN NET SALES RECURRING EBIT % LOCAL CURRENCY GROWTH / DECLINE & VARIANCE To e
Slide 11: Strategy Update
STRATEGY UPDATE New picture 11 24 October 2025 Q3 2025 TRADING UPDATE
Slide 12: Holcim to expand Building Solutions with strategic acquisition of Xella
HOLCIM TO EXPAND BUILDING SOLUTIONS WITH STRATEGIC ACQUISITION OF XELLA A new growth platform in the highly attractive EUR 12 billion+ walling market, with around EUR 1 billion in net sales 1 and an EBITDA margin of ~20% in 2025 Xella’s sustainable and energy-efficient solutions powered by premium b
Slide 13: Xella at a glance
XELLA AT A GLANCE Superior network covering key markets in Europe New country entries for Holcim ● >4,000 employees incl. 200 specification salespeople ● Headquarters in Duisburg, Germany R&D center ● R&D center in Berlin, Germany Headquarters ● +50 production facilities across 21 countries Premium
Slide 14: Excellent strategic fit, accelerating NextGen Growth 2030 strategy
EXCELLENT STRATEGIC FIT, ACCELERATING NEXTGEN GROWTH 2030 STRATEGY Focused investment in SUSTAINABILITY Expanding high-value PERFORMANCE CULTURE ATTRACTIVE MARKETS driving profitable growth BUILDING SOLUTIONS and value creation 1 2 3 4 European leader in sustainable walling Sustainability leadership
Slide 15: NextGen Growth 2030 driving superior performance
NEXTGEN GROWTH 2030 DRIVING SUPERIOR PERFORMANCE • Enhancing our leading positions with our sustainable offering powered by premium brands INDUSTRY-LEADING • Decarbonization and circular construction RECURRING EBIT driving profitable growth MARGIN INDUSTRY • Expansion of high-value Building Solution
Slide 16: Scaling sustainable offering to meet customer demand
SCALING SUSTAINABLE OFFERING TO MEET CUSTOMER DEMAND Metro line 1 in Bogotá, Colombia, Stade Nautique du Roucas Blanc in Marseille, built with ECOPact inside France, built with calcined clay-based ECOPlanet 31% 35% 9M 2025 9M 2025 % of ready-mix net sales % of cement net sales 26% 32% 9M 2024 9M 202
Slide 17: Scaling sustainable offering to meet customer demand
SCALING SUSTAINABLE OFFERING TO MEET CUSTOMER DEMAND Brügelmannstrasse Gymnasium in Cologne, Germany Built with ECOPact and ECOCycle 5.6 +20% 9M 2025 (million tons) Volume of recycled construction demolition materials 4.7 9M 2024 17 24 October 2025 Q3 2025 TRADING UPDATE
Slide 18: 14 value-accretive M&A transactions closed
14 VALUE-ACCRETIVE M&A TRANSACTIONS CLOSED Strengthening leadership in Expanding in high-value Building Materials Building Solutions Acquisitions Acquisitions • Tribex • Société des Bétons de la Vallée de Seine Serbia (aggregates) France (ready-mix concrete) • Zhablyano AD • Compañía Minera Luren SA
Slide 19: Outlook
OUTLOOK 19 24 October 2025 Q3 2025 TRADING UPDATE
Slide 20: Guidance 2025 confirmed
GUIDANCE 2025 CONFIRMED ● 2025 growth in line with NextGen Growth 2030 targets: ○ 3% to 5% net sales growth in local currency1 ○ 6% to 10% recurring EBIT growth in local currency1 ● Recurring EBIT margin of above 18% ● Free cash flow before leases of around CHF 2 billion ● >20% growth in recycled co
Slide 21: Upcoming events and contacts
UPCOMING EVENTS AND CONTACTS Full-year 2025 Q1 2026 trading Annual General Half-year results update Meeting 2026 results February 27 April 24 May 13 July 31 Holcim Investor Relations Email: investor.relations@holcim.com Phone: +41 58 858 87 87 Bernd Pomrehn Bénédicte Mayer Tia Oreskovic Head Investo
Slide 22: Appendices
APPENDICES 22 24 October 2025 Q3 2025 TRADING UPDATE
Slide 23: Q3 net sales growth of 4.9% in LC
Q3 NET SALES GROWTH OF 4.9% IN LC [in CHF m and % change] +4.9% in LC1 -0.8% -6.6% 4,141 4,036 182 22 -35 -274 Q3 2024 Organic growth M&A Large M&A FX Q3 2025 23 24 October 2025 Q3 2025 TRADING UPDATE 1 The growth in local currency excludes currency translation and large M&A defined as divestments a
Slide 24: Q3 recurring EBIT growth of 8.1% in LC
Q3 RECURRING EBIT GROWTH OF 8.1% IN LC [in CHF m and % change] +8.1% in LC1 -1.6% -6.4% 835 836 80 -12 -13 -54 Q3 2024 Organic growth M&A Large M&A FX Q3 2025 24 24 October 2025 Q3 2025 TRADING UPDATE 1 The growth in local currency excludes currency translation and large M&A defined as divestments a
Slide 25: Q3 Regional Overview
Q3 REGIONAL OVERVIEW Asia, Middle East & Europe Latin America Africa 20.9% +130 bps 27.9% -650 bps 25.5% +320 bps -0.3% +5.5% +12.7% -10.5% +6.4% +20.1% 2,231 914 769 471 216 244 RECURRING EBIT MARGIN NET SALES RECURRING EBIT % LOCAL CURRENCY GROWTH / DECLINE & VARIANCE To external customers (CHF m)
Slide 26: Holcim and Xella's complementary sustainable product offering
HOLCIM AND XELLA’S COMPLEMENTARY SUSTAINABLE PRODUCT OFFERING ROOFING SYSTEMS WALLING SOLUTIONS FOUNDATION & FLOORING SOLUTIONS STRUCTURE 26 03 24 October 2025 Q3 2025 TRADING PROJECT HENDRIXUPDATE REQUEST FOR APPROVAL
Slide 27: Specification and cross selling opportunities based on comprehensive product offering
SPECIFICATION AND CROSS SELLING OPPORTUNITIES BASED ON COMPREHENSIVE PRODUCT OFFERING Holcim and Xella’s integrated wall system Autoclaved Calcium Silicate Mortars & Aerated Units (CSU) Insulation Concrete (AAC) Adhesives & Renders & Building Structural Finishes Waterproofing Blocks Elements 27 24 O
Slide 28: Example of potential cross-selling opportunities: the Belgrade Waterfront project
EXAMPLE OF POTENTIAL CROSS-SELLING OPPORTUNITIES: THE BELGRADE WATERFRONT PROJECT Holcim and Xella’s systems-selling for one of the region’s largest urban developments • ECOPact low-carbon concrete delivers 100% performance with lower CO2 emissions • ZinCo’s nature positive and energy efficient solu
Slide 29: Glossary
GLOSSARY Definitions Abbreviations • Product lines • Bps: Basis points As Holcim expands its unique product portfolio, it has introduced two new customer-focused product lines: Building • CapEx: Capital Expenditures Materials and Building Solutions. • EBIT: Earnings before interest and taxes Buildin
Slide 30: Disclaimer
DISCLAIMER By accessing this presentation (and the information contained herein), you agree to be bound by and liable for breach of the following terms and conditions: The presentation (and the information contained herein) is provided to you by Holcim Ltd (“Holcim”) and/or any of its subsidiaries o