Quarter 1 - financial statement for 2026

For the three months ended 31 March 2026

CONTENTS PAGE

Condensed consolidated and separate statements of profit or loss 2

Condensed consolidated and separate statements of comprehensive income 3

Condensed consolidated and separate statements of financial position 4

Condensed consolidated statement of changes in equity 5

Condensed separate statement of changes in equity 6

Condensed consolidated and separate statements of cash flows 7

Notes to the condensed consolidated and separate interim financial statements 8 - 25

Dangote Cement Plc

Condensed consolidated and separate statements of profit or loss For the three months ended 31 March 2026

Group Company

Condensed consolidated and separate statements of comprehensive Income For the three months ended 31 March 2026

Group Company

Dangote Cement Plc

Condensed consolidated and separate statements of financial position

As at 31 Marcb 2026

Group Company

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Condensed consolidated statement of changes in equity For the three months ended 31 March 2026

Group

Condensed separate statement of changes in equity For the three months ended 31 March 2026

Company

Group Company

Notes to the condensed consolidated and separate interim financial statements For the three months ended 31 March 2026

1. General Information

   Dangote Cement Plc ("the Company") was incorporated in Nigeria as a public limited liability company on 4 November 1992 and commenced operations in January 2007 under the name Obajana Cement Plc. The name was changed on 14 July 2010 to Dangote Cement Plc.

   Its parent company is Dangote Industries Limited ("DIL" or "the Parent Company"). Its ultimate controlling party is Alhaji Aliko Dangote. The registered address of the Company is located at 1 Alfred Rewane Road, Ikoyi, Lagos, Nigeria.

   The principal activity of the Company and its subsidiaries (together referred to as "the Group") is to operate plants for the preparation, manufacture, and

   distribution of cement and related products. The Company's production activities are currently undertaken at Obajana town in Kogi State, Gboko in Benue State and Ibese in Ogun State; all in Nigeria. Information in respect of the subsidiaries locations is disclosed in note 15.

   The condensed consolidated interim financial statements of the Group for the period ended 31 March 2026 comprise the Company and its subsidiaries. The condensed separate interim financial statements of the Company for the period ended 31 March 2026 comprise the Company only.

   1. Securities trading policy

      The Board has established an Insider Trading Policy designed to prohibit dealing in Dangote Cement Plc. shares or securities on the basis of potentially price-sensitive information that is not yet in the public domain. This is in line with the Rules of the NGX, the Investment and Securities Act (ISA) 2007 and the SEC Rules and Regulations. Having enquired, we can confirm that all Directors complied with the Insider Trading Policy during the period under review.

2. Material accounting policies

   The Group and Company's financial statements for the year ended 31 December 2025 have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board ("IASB"), and interpretations issued by the International Financial Reporting Interpretations Committee of the IASB (together "IFRS Standards") and requirements of the Companies and Allied Matters Act (CAMA),2020 and the Financial Reporting Council (FRC) of Nigeria Act, 2011.

   Dangote Cement Plc. Group has consistently applied the same accounting policies and methods of computation in its condensed consolidated and separate interim financial statements as in its 2025 annual financial statements except for the application of new standards. None of the new standards, interpretations and amendments, effective for the first time from 1 January 2026, have had a material effect on the condensed consolidated and separate interim financial statements.

   Standards issued but not yet effective

   A number of new standards are issued but not yet effective. Earlier application is permitted; however, the Group has not early adopted any of the forthcoming new or amended standards in preparing these condensed consolidated and separate interim financial statements.

   Basis of preparation

   These condensed consolidated and separate interim financial statements For the three months ended 31 March 2026 have been prepared in accordance with IAS 34 Interim Financial Reporting, and should be read in conjunction with the Group and Company's last annual consolidated and separate financial statements as at and for the year ended 31 December 2025 ("last annual consolidated and separate financial statements"). They do not include all the information required for a complete set of financial statements prepared in accordance with IFRS Standards. However, selected explanatory notes are included to explain events and transactions that are significant to an understanding of the changes in the Group and Company's financial position and performance since last annual consolidated and separate financial statements.

   The condensed consolidated and separate interim financial statements have been prepared on the historical cost basis except for derivatives which are measured at fair value and balances of entities in hyper-inflation economies. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

   Fair values

   Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, regardless of whether that price is directly observable or estimated using another valuation technique. In estimating the fair value of an asset or a liability, the Group takes into account the characteristics of the asset or liability that market participants would take into account when pricing the asset or liability at the measurement date. Fair value for measurement and/or disclosure in these condensed consolidated interim financial statements is determined on such a basis, except for leasing transactions that are within the scope of IFRS 16, and measurements that have some similarities to fair value but are not fair value, such as net realisable value in IAS 2 or value in use in IAS 36. Derivatives are carried at fair value.

   Basis of consolidation

   The Group condensed interim financial statements incorporate the financial statements of the Company and its subsidiaries over whom it has control, made up to 31 March 2026. Control is achieved where the investor; (i) has power over the investee entity (ii) is exposed, or has rights, to variable returns from the investee entity as a result of its involvement, and (iii) can exercise some power over the investee to affect its returns.

   The Company reassesses whether or not it still controls an investee if facts and circumstances indicate that there are changes to one or more of the three elements of control listed above.

   The financial statements of subsidiaries are included in the condensed consolidated interim financial statements from the date that control commences until the date that control ceases. The accounting policies of subsidiaries have been changed where necessary to align them with the policies adopted by the Group.

   Income and expenses of subsidiaries acquired or disposed of during the period are included in the condensed consolidated statement of profit or loss and condensed consolidated statement of comprehensive income from the effective date of acquisition and up to the effective date of disposal, as appropriate. Total comprehensive income of subsidiaries is attributed to the owners' of the Company and to the non-controlling interests even if this results in the non-controlling interest having a deficit balance.

   In the Company's condensed separate interim financial statements, investments in subsidiaries are carried at cost less any impairment that has been recognised in profit or loss.

   Notes to the condensed consolidated and separate interim financial statements For the three months ended 31 March 2026

3. REVENUE

   Group Company

   Volumes	3 months ended 31/03/2026	3 months ended 31/03/2025	3 months ended 31/03/2026	3 months ended 31/03/2025
   	'000 tonnes	'000 tonnes	'000 tonnes	'000 tonnes
   Cement production and bagging capacity (for the year)	55,000	52,000	29,250	29,250
   Production volume*	7,211	6,547	3,579	3,407
   Trade cement purchase	-	98	891	904
   Decrease/(increase) in stocks**	261	(76)	433	85
   Sales volume*	7,472	6,569	4,903	4,396

   * includes both cement and clinker volumes

   ** Decrease/(increase) in stocks refers to the difference between the opening and closing stocks for the period. An analysis of revenue in naira is as follows:

   Group Company

   Revenue from contracts with customers Revenue from sales of cement & clinker Revenue from sales of other products	3 months ended 31/03/2026 ₦'million 1,197,954 78	3 months ended 31/03/2025 ₦'million 994,653 6	3 months ended 31/03/2026 ₦'million 861,825 -	3 months ended 31/03/2025 ₦'million 696,042 -
   Sales value	1,198,032	994,659	861,825	696,042

   All group sales exclude intra-group sales.

4. Segment Information

   1. Products and services from which reportable segments derive their revenue

      The Executive Management Committee is the Company's Chief Operating Decision Maker. Management has determined operating segments based on the information reported and reviewed by the Executive Management Committee for the purposes of allocating resources and assessing performance. The Executive Management Committee reviews internal management reports on at least a quarterly basis. These internal reports are prepared on the same basis as the accompanying consolidated and separate financial statements.

      Segment information is presented in respect of the Group's reportable segments. For management purposes, the Group is organised into business units by geographical areas in which the Group operates. The Group has 2 reportable segments based on location of the principal operations as follows:

      • Nigeria (includes Company and all subsidiaries operating in Nigeria. See Note 15.1)

      • Pan Africa (includes entities operating outside Nigeria. See Note 15.1)

   2. Segment revenues and results

      Performance is measured based on segment sales revenue, Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) and profit from operating activities, as included in the internal management reports that are reviewed by the Executive Management Committee. Segment sales revenue, EBITDA and profit from operating activities are used to measure performance as management believes that such information is the most relevant in evaluating results of certain segments relative to other entities that operate within these industries.

      Notes to the condensed consolidated and separate interim financial statements For the three months ended 31 March 2026

      Segment results

      The following is an analysis of the Group's revenue and results by reportable segment:

      Group

      3 months ended 31/03/2026

      	Nigeria ₦'million	Pan Africa ₦'million	Central Administrative cost ₦'million	Eliminations ₦'million	Total ₦'million
      Revenue	861,825	369,959	-	(33,752)	1,198,032
      EBITDA*	525,318	59,323	(18,599)	1,014	567,056
      Other Income	4,589	702	-	(14)	5,277
      Profit from operating activities	490,160	33,425	(18,599)	1,198	506,184
      Profit/(loss) for the period	278,302	(10,080)	(18,599)	71,475	321,098

      * represents earnings before interest, taxes, depreciation, amortisation & impairment

      3 months

      ended

      Group 31/03/2025

      	Nigeria ₦'million	Pan Africa ₦'million	Central Administrative cost ₦'million	Eliminations ₦'million	Total ₦'million
      Revenue	696,042	322,653	-	(24,036)	994,659
      EBITDA*	394,827	76,503	(11,483)	1,792	461,639
      Other Income	7,943	8,343	-	(17)	16,269
      Profit from operating activities	366,820	39,911	(11,483)	2,171	397,419
      Profit/(loss) for the period	230,746	(110,083)	(11,483)	100,065	209,245

      * represents earnings before interest, taxes, depreciation, amortisation & impairment.

      Total segment operating profit agrees to the profit from operating activities. A reconciliation of profit from operating activities to profit before tax is presented on the face of the profit and loss account.

      Segment assets and liabilities	Nigeria ₦'million	Pan Africa ₦'million	Eliminations ₦'million	Total ₦'million
      31 March 2026 Total assets	5,190,535	3,110,422	(2,265,959)	6,034,998
      Segment liabilities	2,174,317	4,057,320	(3,061,506)	3,170,131
      31 December 2025 Total assets	5,208,945	3,221,922	(2,390,140)	6,040,727
      Segment liabilities	2,416,474	4,223,941	(3,219,824)	3,420,591

      4.2

      A reconciliation of Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) to the profit for the period is presented below:

      Group

      EBITDA Depreciation, amortisation, write-off and impairment	3 months ended 31/03/2026 ₦'million 567,056 (60,872)	3 months ended 31/03/2025 ₦'million 461,639 (64,220)
      Profit from operating activities	506,184	397,419
      Finance income	3,040	33,352
      Finance costs	(98,250)	(129,376)
      Gain on net monetary positions	10,192	10,579
      Profit before tax	421,166	311,974
      Income tax expense	(100,068)	(102,729)
      Profit for the period	321,098	209,245

      	3 months	3 months	3 months	3 months
      	ended	ended	ended	ended
      	31/03/2026	31/03/2025	31/03/2026	31/03/2025
      	₦'million	₦'million	₦'million	₦'million
      Material consumed	110,953	87,059	165,480	139,544
      Fuel & power consumed	184,874	177,193	100,696	85,510
      Royalty (Note 5(a))	4,007	1,999	2,773	1,120
      Salaries and related staff costs	40,338	31,005	17,456	11,207
      Depreciation & amortisation	39,450	48,236	16,699	14,233
      Plant maintenance cost	41,059	49,678	22,529	26,790
      Other production expenses	20,650	28,364	6,494	8,030
      Decrease/(increase) in finished goods and work in process	7,401	(16,269)	4,801	68
      Total production cost of sales	448,732	407,265	336,928	286,502

5. Production cost of sales

   (a) Royalty payable is charged based on volume of extraction made during the period.

6. Administrative expenses

   Group

   Group

   Company

   Company

   	3 months	3 months	3 months	3 months
   	ended	ended	ended	ended
   	31/03/2026	31/03/2025	31/03/2026	31/03/2025
   	₦'million	₦'million	₦'million	₦'million
   Salaries and related staff costs	19,486	15,583	9,658	7,482
   Corporate social responsibility	7,859	1,077	6,765	358
   Management fee (Note 6(a))	2,977	2,654	2,977	2,654
   Depreciation and Amortisation	5,229	5,419	891	785
   Rent, rate and insurance	8,209	3,736	1,275	978
   Repairs and maintenance	2,154	1,417	1,634	1,097
   Travel expenses	3,504	3,166	1,448	1,394
   Bank charges	2,157	2,261	669	1,266
   Professional and consultancy fees	1,520	1,827	624	335
   Security expenses	1,613	1,642	359	234
   Janitorial and office cleaning	917	700	514	347
   General administrative expenses	9,723	7,574	4,838	3,790
   Others	6,229	4,788	2,548	1,939
   Total administrative expenses	71,577	51,844	34,200	22,659

   (a) The management fee is charged by Dangote Industries Limited (DIL) for management and corporate services provided to Dangote Cement Plc. (DCP). It is an apportionment of DIL's shared-service cost to DCP plus mark-up.

7. Selling and distribution expenses

   Group Company

   	3 months	3 months	3 months	3 months
   	ended	ended	ended	ended
   	31/03/2026	31/03/2025	31/03/2026	31/03/2025
   	₦'million	₦'million	₦'million	₦'million
   Salaries and related staff costs	16,827	11,981	10,026	6,305
   Depreciation	16,075	10,481	13,880	9,042
   Advertisement and promotion	6,093	4,978	3,673	2,170
   Haulage expenses	135,816	124,478	81,791	77,617
   Others	2,709	1,718	1,107	801
   Total selling and distribution expenses	177,520	153,636	110,477	95,935

8. Other income

   Group

   Company

   	3 months	3 months	3 months	3 months
   	ended	ended	ended	ended
   	31/03/2026	31/03/2025	31/03/2026	31/03/2025
   	₦'million	₦'million	₦'million	₦'million
   Insurance claims	3,452	5,788	3,150	206
   Government grant	46	6,333	-	6,283
   Other miscellaneous income*	1,779	4,148	1,443	952
   Total other income	5,277	16,269	4,593	7,441

   * Other miscellaneous income mainly represents sale of electricity to third parties.

9. Finance income and costs

   Group Company

   Finance income Interest income	3 months ended 31/03/2026	3 months ended 31/03/2025	3 months ended 31/03/2026	3 months ended 31/03/2025
   	₦'million	₦'million	₦'million	₦'million
   	3,040	33,352	10,551	65,093
   Total finance income	3,040	33,352	10,551	65,093
   Finance costs
   Gross interest expenses	82,788	110,302	70,260	99,351
   Net foreign exchange loss	13,214	17,472	73,128	11,551
   Other finance costs	2,248	1,602	2,051	1,526
   Total finance costs	98,250	129,376	145,439	112,428

10. Earnings per share

    Group Company

    	3 months ended 31/03/2026	3 months ended 31/03/2025	3 months ended 31/03/2026	3 months ended 31/03/2025
    	₦'million	₦'million	₦'million	₦'million
    Profit for the period attributable to owners of the Company	320,649	205,903	161,304	178,006
    Weighted average number of ordinary shares for the purposes of basic and diluted earnings per share (million)	16,752	16,752	16,752	16,752
    Basic and diluted earnings per share (Naira)	19.14	12.29	9.63	10.63

    There are no dilutive instruments. Consequently, Basic and diluted earnings per share are the same.

11. Income tax

    Income tax expense recognised in profit or loss Current tax expense Deferred tax credit/(expense)	3 months ended 31/03/2026 ₦'million (65,884) (34,184)	3 months ended 31/03/2025 ₦'million (88,092) (14,637)	3 months ended 31/03/2026 ₦'million (55,071) (34,170)	3 months ended 31/03/2025 ₦'million (61,995) (10,352)
    Total income tax expense recognised in the current period	(100,068)	(102,729)	(89,241)	(72,347)

    11.1

    Group

    Company

    Income tax expense is recognised at an amount determined by multiplying the profit/loss before tax for the interim reporting period by management's best estimate of the weighted average annual income tax rate expected for the full year, adjusted for the effect of certain items recognised in full in the interim period. As such, the effective tax rate in the Interim financial statements may differ from management's estimate of the effective tax rate for the annual financial statements.

    	31/03/2026	31/12/2025	31/03/2026	31/12/2025
    	₦'million	₦'million	₦'million	₦'million
    Current tax assets
    Balance, beginning of the period/year	1,573	1,826	924	924
    Charge for the period/year	1,460	3,938	-	-
    Payments during the period/year	-	(4,007)	-	-
    Effect of foreign currency exchange rates differences	(2)	(184)	-	-
    Balance, end of the period/year	3,031	1,573	924	924
    Current tax liabilities
    Balance, beginning of the period/year	297,021	183,160	235,242	129,623
    Charge for the period/year	67,344	351,171	55,071	254,702
    Payments during the period/year	(12,975)	(163,591)	-	(90,268)
    Witholding tax credit and grant utilized	(1,464)	(6,718)	-	(2,513)
    Tax credit utilised to offset current tax liabilities	-	(56,302)	-	(56,302)
    Effect of foreign currency exchange rates differences	(3,580)	(10,699)	-	-
    Balance, end of the period/year	346,346	297,021	290,313	235,242
    Deferred tax assets
    Balance, beginning of the period/year	17,757	19,425	-	-
    Credit/(charge) for the period/year	(237)	(3,286)	-	-
    Effect of foreign currency exchange rates differences	(881)	1,618	-	-
    Balance, end of the period/year	16,639	17,757	-	-
    Deferred tax liabilities	353,245 33,947 (883)	196,422 167,220 (10,397)	182,516 34,170 -	73,243 109,273 -
    Balance, beginning of the period/year Charge/(Credit) for the period/year Effect of foreign currency exchange rates differences
    Balance, end of the period/year	386,309	353,245	216,686	182,516

    Group Company

    11.2

    11.3

    11.4

    11.5

12. Property, plant and equipment

    1. Group

       	Land & leasehold improvements ₦'million	Buildings ₦'million	Plant and machinery ₦'million	Motor vehicles ₦'million	Aircraft ₦'million	Furniture & equipment ₦'million	Capital work-in-progress ₦'million	Total ₦'million
       Cost
       At 1 January 2025	75,468	732,637	3,355,070	666,612	4,028	54,349	487,030	5,375,194
       Additions	-	6,607	98,613	102,933	-	2,128	650,808	861,089
       Reclassifications	595	6,057	191,171	25,392	-	1,843	(225,058)	-
       Transfers	-	-	1,990	(940)	-	-	-	1,050
       Disposals	-	-	(1,214)	(2,245)	-	(5)	-	(3,464)
       Write-off Effect of foreign currency	(13)	-	(4,080)	(7,952)	-	(253)	(226)	(12,524)
       exchange rates differences	(7,145)	876	(54,405)	29,107	-	(2,402)	20,196	(13,773)
       Balance at 31 December 2025	68,905	746,177	3,587,145	812,907	4,028	55,660	932,750	6,207,572
       At 1 January 2026	68,905	746,177	3,587,145	812,907	4,028	55,660	932,750	6,207,572
       Additions	166	729	16,129	11,521	-	762	19,547	48,854
       Reclassification	-	97,210	141,255	22,311	-	36	(260,812)	-
       Transfers	-	-	-	-	-	(17)	(7,688)	(7,705)
       Disposals	-	-	-	(107)	-	(1)	-	(108)
       Write-off Effect of foreign currency	-	-	-	(11,831)	-	-	-	(11,831)
       exchange rates differences	(3,226)	(32,982)	(111,957)	(20,894)	-	(2,832)	(19,795)	(191,686)
       Balance at 31 March 2026	65,845	811,134	3,632,572	813,907	4,028	53,608	664,002	6,045,096
       Accumulated depreciation & impairment
       At 1 January 2025	33,844	253,086	1,304,914	474,919	3,581	33,528	-	2,103,872
       Depreciation expense	387	15,855	114,601	72,073	23	4,563	-	207,502
       Reclassifications	-	-	-	-	-	-	-	-
       Transfers			(183)					(183)
       Disposal	-	-	(786)	(2,245)	-	(3)	-	(3,034)
       Write-off Effect of foreign currency	-	-	(3,662)	(7,868)	-	(213)	-	(11,743)
       exchange rates differences	(7,060)	(1,222)	(24,966)	28,403	-	(1,360)	-	(6,205)
       Balance at 31 December 2025	27,171	267,719	1,389,918	565,282	3,604	36,515	-	2,290,209
       At 1 January 2026	27,171	267,719	1,389,918	565,282	3,604	36,515	-	2,290,209
       Depreciation expense	132	4,420	31,840	21,169	6	1,383	-	58,950
       Disposal	-	-	-	(107)	-	-	-	(107)
       Write-off	-	-	-	(11,713)	-	-	-	(11,713)
       Effect of foreign currency
       exchange rates differences	(1,390)	(11,691)	(40,195)	(20,703)	-	(1,727)	-	(75,706)
       Balance at 31 March 2026	25,913	260,448	1,381,563	553,928	3,610	36,171	-	2,261,633
       Carrying amounts: At 1 January 2025	41,624	479,551	2,050,156	191,693	447	20,821	487,030	3,271,322
       At 31 December 2025	41,734	478,458	2,197,227	247,625	424	19,145	932,750	3,917,363
       At 31 March 2026	39,932	550,686	2,251,009	259,979	418	17,437	664,002	3,783,463

       12 Property, plant and equipment

    2. Company

       Cost At 1 January 2025 Additions Reclassifications Disposal Write-off	Land & Capital leasehold Plant and Motor Furniture & work-in-improvements Buildings machinery vehicles Aircraft equipment progress Total ₦'million ₦'million ₦'million ₦'million ₦'million ₦'million ₦'million ₦'million
       	3,113 89,231 767,738 340,132 4,028 7,811 45,318 1,257,371 - 1,512 43,214 100,578 - 496 151,056 296,856 10 1,457 60,466 25,226 - 1,639 (88,798) - - - (1,214) (2,245) - (5) - (3,464) - - - (7,934) - - - (7,934)
       Balance at 31 December 2025	3,123 92,200 870,204 455,757 4,028 9,941 107,576 1,542,829
       At 1 January 2026 Additions Reclassification Transfers Disposal Write-off
       	3,123 92,200 870,204 455,757 4,028 9,941 107,576 1,542,829 166 517 10,804 10,576 - 630 3,075 25,768 - - 2,378 - - - (2,378) - - - - - - - (7,688) (7,688) - - - (107) - (1) - (108) - - - (11,831) - 1 - (11,830)
       Balance at 31 March 2026	3,289 92,717 883,386 454,395 4,028 10,571 100,585 1,548,971
       Accumulated depreciation & impairment
       At 1 January 2025 Depreciation expense Disposal Write-off	1,047 31,062 370,838 169,511 3,581 6,105 - 582,144 31 1,957 38,738 60,762 23 1,071 - 102,582 - - (786) (2,245) - (3) - (3,034) - - - (7,850) - - - (7,850)
       Balance at 31 December 2025	1,078 33,019 408,790 220,178 3,604 7,173 - 673,842
       At 1 January 2026 Depreciation expense Disposal Write-off
       	1,078 33,019 408,790 220,178 3,604 7,173 - 673,842 8 500 12,167 18,110 6 338 - 31,129 - - - (107) - - - (107) - - - (11,713) - - - (11,713)
       Balance at 31 March 2026	1,086 33,519 420,957 226,468 3,610 7,511 - 693,151
       Carrying amounts: At 1 January 2025	2,066 58,169 396,900 170,621 447 1,706 45,318 675,227
       At 31 December 2025	2,045 59,181 461,414 235,579 424 2,768 107,576 868,987
       At 31 March 2026	2,203 59,198 462,429 227,927 418 3,060 100,585 855,820

       Notes to the condensed consolidated and separate interim financial statements For the three months ended 31 March 2026

13. Intangible assets

    Group Company

    Cost	Computer software ₦'million	Exploration assets ₦'million	Total ₦'million	Computer software ₦'million	Total ₦'million
    At 1 January 2025	16,383	15,701	32,084	1,668	1,668
    Additions	250	48	298	49	49
    Write-off	(50)	-	(50)	-	-
    Effect of foreign currency exchange rates differences	(232)	(396)	(628)	-	-
    Balance at 31 December 2025	16,351	15,353	31,704	1,717	1,717
    At 1 January 2026	16,351	15,353	31,704	1,717	1,717
    Additions	256	87	343	139	139
    Transfers	17	-	17	-	-
    Effect of foreign currency exchange rates differences	(823)	(908)	(1,731)	-	-
    Balance at 31 March 2026	15,801	14,532	30,333	1,856	1,856
    Accumulated amortisation
    At 1 January 2025	13,258	1,823	15,081	1,587	1,587
    Amortisation expense	720	183	903	28	28
    Effect of foreign currency exchange rates differences	(451)	(212)	(663)	-	-
    Balance at 31 December 2025	13,527	1,794	15,321	1,615	1,615
    At 1 January 2026	13,527	1,794	15,321	1,615	1,615
    Amortisation expense	106	40	146	12	12
    Effect of foreign currency exchange rates differences	(678)	(104)	(782)	-	-
    Balance at 31 March 2026	12,955	1,730	14,685	1,627	1,627
    Carrying amounts: At 1 January 2025	3,125	13,878	17,003	81	81
    At 31 December 2025	2,824	13,559	16,383	102	102
    At 31 March 2026	2,846	12,802	15,648	229	229

    Computer software is amortized on a straight line basis.

    Exploration assets are amortized in line with the useful life of the mines.

    There are no development expenditure capitalised as internally generated intangible asset.

    Notes to the condensed consolidated and separate interim financial statements For the three months ended 31 March 2026

14. Right-of-use assets

    14.1

    Group

    Company

    	Land and buildings	Plant and machinery	Motor Furniture & vehicles equipment	Total	Land and buildings	Total
    	₦'million	₦'million	₦'million ₦'million	₦'million	₦'million	₦'million
    Cost
    At 1 January 2025	93,892	3,431	1,153	98,476	8,024	8,024
    Additions	1,966	801	56	2,823	1,169	1,169
    Reclassification	(259)	-	259	-	-	-
    Transfers	(36)			(36)	(36)	(36)
    Write off Effect of foreign currency exchange rates	-	(249)	(353)	(602)	-	-
    differences	(5,149)	249	68 9	(4,823)	-	-
    Balance at 31 December 2025	90,414	4,232	924 268	95,838	9,157	9,157
    At 1 January 2026	90,414	4,232	924 268	95,838	9,157	9,157
    Additions Effect of foreign currency exchange rates	178	-	415	593	178	178
    differences	(4,770)	(268)	(70) (17)	(5,125)	-	-
    Balance at 31 March 2026	85,822	3,964	1,269 251	91,306	9,335	9,335
    Accumulated depreciation & impairment
    At 1 January 2025	25,315	1,837	895	28,047	4,808	4,808
    Depreciation expense	5,460	1,028	133 -	6,621	1,200	1,200
    Reclassification	(138)	-	- 138	-		-
    Disposal Effect of foreign currency exchange rates	-	(249)	(353) -	(602)	-	-
    differences	(467)	149	53 5	(260)	-	-
    Balance at 31 December 2025	30,170	2,765	728 143	33,806	6,008	6,008
    At 1 January 2026	30,170	2,765	728 143	33,806	6,008	6,008
    Depreciation expense Effect of foreign currency exchange rates	1,356	227	54 21	1,658	329	329
    differences	(1,171)	(332)	103 (10)	(1,410)	-	-
    Balance at 31 March 2026	30,355	2,660	885 154	34,054	6,337	6,337
    Carrying amounts: At 1 January 2025	68,577	1,594	258	70,429	3,216	3,216
    At 31 December 2025	60,244	1,467	196 125	62,032	3,149	3,149
    At 31 March 2026	55,467	1,304	384 97	57,252	2,998	2,998

15. Investments

Details of the Group's subsidiaries at the end of the reporting period are as follows:

Place of incorporation and operation

Proportion of ownership or voting power held by the Group

1. Investments (Contd.)

   Investments in subsidiaries	31/03/2026	31/12/2025	31/03/2026	31/12/2025
   	₦'million	₦'million	₦'million	₦'million
   Dangote Cement South Africa (Pty) Limited	-	-	30,695	30,695
   Dangote Cement (Ethiopia) Plc	-	-	40,036	40,036
   Dangote Cement Zambia Limited	-	-	106	106
   Dangote Cement Senegal S.A	-	-	64,782	64,782
   Dangote Cement Cameroun S.A	-	-	15,160	15,160
   Dangote Cement Production Limited	-	-	17,893	276
   Dangote Cement Limited, Tanzania	-	-	13,851	13,851
   Dangote Cement Congo S.A	-	-	86,997	86,997
   Dangote Cement (Sierra Leone) Limited	-	-	18	18
   Dangote Cement Cote D'Ivoire S.A	-	-	16	16
   Dangote Industries Gabon S.A	-	-	31	31
   Dangote Cement Burkina Faso S.A	-	-	3	3
   Dangote Cement Chad S.A	-	-	3	3
   Dangote Cement Mali S.A	-	-	3	3
   Dangote Cement Niger SARL	-	-	7	7
   Dangote Industries Benin S.A	-	-	3	3
   Dangote Cement Togo S.A	-	-	5	5
   Dangote Cement Madagascar Limited	-	-	2	2
   Dangote Cement Congo D.R. S.A	-	-	6	6
   Itori Cement Limited	-	-	1	1
   Okpella Cement Limited	-	-	1	1
   DCP Cement Limited	-	-	1	1
   Dangote Ceramics Limited	-	-	10	10
   Dangote Cement Yaounde	-	-	22	22
   Dangote Cement - Liberia Limited	-	-	-	-
   Dangote Cement Kenya Limited	-	-	-	-
   Dangote Quarries Kenya Limited	-	-	-	-
   Dangote Quarries Mozambique Limitada	-	-	-	-
   Dangote Cement Nepal Pvt. Limited	-	-	-	-
   Dangote Zimbabwe Holdings (Private) Limited	-	-	-	-
   Dangote Cement Zimbabwe (Private) Limited	-	-	-	-
   Dangote Energy Zimbabwe (Private) Limited	-	-	-	-
   Dangote Mining Zimbabwe (Private) Limited	-	-	-	-
   Dangote Cement Guinea SA	-	-	-	-
   Cimenterie Obajana Sprl- D.R. Congo	-	-	-	-
   Dangote Mines Limited, Tanzania	-	-	-	-
   Dangote Contracting Services Limited, Tanzania	-	-	-	-
   Dangote Mining Niger S.A	-	-	-	-
   Investments in subsidiaries	-	-	269,652	252,035

   15.2

   Group

   Company

   15.3 Investment in associate

   Group Company

   Societe des Ciments d' Onigbolo	31/03/2026 ₦'million 3,222	31/12/2025 ₦'million 3,222	31/03/2026 ₦'million 1,582	31/12/2025 ₦'million 1,582
   Investment in associate	3,222	3,222	1,582	1,582

   The Group holds 43% of the voting rights in Societe des Ciments d' Onigbolo, a cement producing company incorporated in the Republic of Benin.

2. Prepayments

   Group Company

   Advance to contractors	31/03/2026 ₦'million 22,859	31/12/2025 ₦'million 28,969	31/03/2026 ₦'million 50	31/12/2025 ₦'million 50
   Prepayments	22,859	28,969	50	50

   Advance to contractors represents various advances made to contractors for the construction of plants.

3. Lease receivables

   Group Company

   Trucks leased to customers	31/03/2026 ₦'million	31/12/2025 ₦'million	31/03/2026 ₦'million	31/12/2025 ₦'million
   	31,423	27,941	31,423	27,941
   Non current portion of lease receivables	25,632	23,044	25,632	23,044
   Current portion of lease receivables	5,791	4,897	5,791	4,897

   1. Leasing arrangements

      The Group entered into finance lease arrangement for some of its trucks. All leases are denominated in Naira. The average term of finance leases entered into is 4.2 years (December 2025: 4.2 years).

4. Receivables from related parties

   Group

   Company

   Due from related parties - Non current Subsidiaries	31/03/2026 ₦'million -	31/12/2025 ₦'million -	31/03/2026 ₦'million 1,655,861	31/12/2025 ₦'million 1,713,814
   	-	-	1,655,861	1,713,814

   Dangote Cement Plc

   Notes to the condensed consolidated and separate interim financial statements For the three months ended 31 March 2026

5. Inventories

   Group Company

   	31/03/2026	31/12/2025	31/03/2026	31/12/2025
   	₦'million	₦'million	₦'million	₦'million
   Finished goods	29,966	32,874	14,761	16,879
   Work-in-progress	51,181	55,674	6,691	9,374
   Raw materials	42,856	60,664	22,912	26,704
   Packaging materials	30,504	28,705	13,213	13,094
   Consumables	56,371	55,724	34,487	34,440
   Fuel	53,258	54,507	15,631	14,523
   Spare parts	382,004	381,589	196,223	192,318
   Goods-in-transit	57,438	87,098	43,328	62,949
   Inventories	703,578	756,835	347,246	370,281

   Trade receivables Impairment allowance on trade receiveables	31/03/2026 ₦'million 54,778 (3,189)	31/12/2025 ₦'million 57,685 (3,789)	31/03/2026 ₦'million 24,578 (1,968)	31/12/2025 ₦'million 27,362 (2,413)
   	51,589	53,896	22,610	24,949
   Staff loans and advances	4,934	4,196	945	610
   Value added tax receivables	9,733	17,652	-	-
   Receivables from registrar	1,241	1,184	1,241	1,184
   Other receivables	69,356	70,544	27,513	34,398
   Trade and other receivables	136,853	147,472	52,309	61,141

6. Trade and other receivables

7. Prepayments and other current assets

   Group

   Group

   Company

   Company

   	31/03/2026	31/12/2025	31/03/2026	31/12/2025
   	₦'million	₦'million	₦'million	₦'million
   Advance to contractors	103,835	57,567	53,528	26,724
   Advance payment to suppliers	166,279	129,408	142,542	111,372
   Rent and insurance	33,845	27,005	14,805	13,306
   Prepayment for tax credit	212	212	212	212
   Total current prepayments	304,171	214,192	211,087	151,614
   Due from related parties - current
   Parent company	-	-	-	-
   Entities controlled by the Parent company	446,257	449,404	439,788	434,040
   Affiliates and associates of Parent company	5,775	15	-	-
   Subsidiaries	-	-	400,501	415,761
   Current receivables from related parties	452,032	449,419	840,289	849,801
   Prepayments and other current assets	756,203	663,611	1,051,376	1,001,415

   Current advance to contractors represents various advances made for the purchase of LPFO, AGO, Coal and other materials which were not received at the end of the period/year.

   Notes to the condensed consolidated and separate interim financial statements For the three months ended 31 March 2026

8. Cash and cash equivalents

   Group Company

   	31/03/2026	31/12/2025	31/03/2026	31/12/2025
   	₦'million	₦'million	₦'million	₦'million
   Cash and bank balances	361,914	386,161	121,247	134,435
   Short term deposits	142,913	11,408	139,914	8,739
   Cash and cash equivalents per statement of financial position	504,827	397,569	261,161	143,174
   Bank overdrafts used for cash management purposes (Note 24)	(33,765)	(34,983)	-	(27,959)
   Cash and cash equivalents per statement of cash flows	471,062	362,586	261,161	115,215

   Cash and cash equivalents include restricted cash of ₦4.1 billion for Group and ₦3.3 billion for Company (December 2025 ₦2.8 billion for Group and Company) on unclaimed dividend held in a separate bank account, letters of credit for the acquisition of inventories, property, plant and equipment as well as debt service reserve account.

9. Trade and other payables

   Group Company

   	31/03/2026	31/12/2025	31/03/2026	31/12/2025
   	₦'million	₦'million	₦'million	₦'million
   Trade payables	410,123	398,791	248,150	230,497
   Payable to contractors	373,093	386,307	10,639	8,671
   Value added tax	34,063	30,626	19,177	17,787
   Withholding tax payable	97,502	110,790	3,527	4,143
   Staff pension	4,197	4,026	44	101
   Contract liabilities - Advances from customers	253,190	143,333	196,108	97,959
   Dividend payables	4,009	4,009	4,006	4,006
   Accruals and other payables	188,680	191,740	49,223	34,074
   Trade and other payables	1,364,857	1,269,622	530,874	397,238

10. Financial liabilities

Group Company

Notes to the condensed consolidated and separate interim financial statements For the three months ended 31 March 2026

1. Financial liabilities (Contd.)

   1. The loans from Bulk Commodities International, a related party, are denominated in USD with interest rate ranging from 6% to 8.5% per annum.

   2. The Company's publicly issued bonds amount to ₦200 billion as at 31 March 2026 (December 2025: ₦200 billion) with coupon rate of 11.85% to 23.5%. The tenure is between 3 to 10 years.

   3. Commercial papers were issued under a programme with a face value of ₦119 billion. The tenure is between 180 days and 265 days with discount ranging from 16% to 17%.

   4. Bank loans include Letters of credit (LCs) obtained to finance inventories, property, plant and equipment, etc. The average interest rate is SOFR plus 8%.

2. Deferred revenue

   Group Company

   	31/03/2026 ₦'million	31/12/2025 ₦'million	31/03/2026 ₦'million	31/12/2025 ₦'million
   Deferred revenue arising from government grant (Note 25(a))	741	818	12	12
   Current portion of deferred revenue (Note 26)	77	110	-	-
   Non-current portion of deferred revenue	664	708	12	12

   1. The deferred revenue mainly arises as a result of the benefit received from government. The revenue was recorded in other income line in line with IAS 20.

3. Other current liabilities

   Group Company

   Current portion of deferred revenue (Note 25)	31/03/2026 ₦'million 77	31/12/2025 ₦'million 110	31/03/2026 ₦'million -	31/12/2025 ₦'million -
   Due to related parties Parent company	29,150	38,586	29,050	38,486
   Entities controlled by the Parent company	103,071	58,827	33,467	36,243
   Affiliates and associates of Parent company	85,067	133,542	82,656	84,023
   Subsidiaries	-	-	404,482	303,725
   Current payables to related parties	217,288	230,955	549,655	462,477
   Other current liabilities	217,365	231,065	549,655	462,477

4. Provisions

   Group Company

   	31/03/2026	31/12/2025	31/03/2026	31/12/2025
   	₦'million	₦'million	₦'million	₦'million
   Balance at beginning of the period/year	57,427	31,931	32,391	12,474
   Effect of foreign currency exchange rates differences	(1,365)	504	-	-
   Provisions made during the period/year	1,213	22,599	23	17,883
   Unwinding of discount	1,354	2,393	1,354	2,034
   Balance at the end of the period/year	58,629	57,427	33,768	32,391

   The above provision represents the Group's obligations to settle environmental restoration and dismantling/ decommissioning cost of property, plant and equipment. The expenditure is expected to be made at the end of the useful lives for the mines.

   Notes to the condensed consolidated and separate interim financial statements For the three months ended 31 March 2026

5. Related party transactions

   Balances and transactions between the Company and its subsidiaries, which are related parties of the Company, have been eliminated on consolidation. Details of transactions between the Group and Company, and other related parties are disclosed below.

   The Group and the Company, in the normal course of business, sells to and buys from other business enterprises that fall within the definition of a 'related party' contained in International Accounting Standard 24. These transactions mainly comprise purchases, sales, finance costs, finance income and management fees paid to shareholders. The companies in the Group also provide funds to and receive funds from each other as and when required for working capital financing and capital projects.

   1. Trading transactions

      During the period, Group entities entered into the following trading transactions with related parties that are not members of the Group:

      Sale of goods

      Purchases of goods and services

      	31/03/2026	31/03/2025	31/03/2026	31/03/2025
      	₦'million	₦'million	₦'million	₦'million
      Parent company	9	8	-	-
      Entities controlled by the Parent company	592	221	79,300	93,637
      Affiliates and associates of the Parent company	-	-	20,421	24,450

      During the period, the Company entered into the following trading transactions with related parties:

      Sale of goods

      Purchases of goods and services

      	31/03/2026	31/03/2025	31/03/2026	31/03/2025
      	₦'million	₦'million	₦'million	₦'million
      Parent company	9	8	-	-
      Entities controlled by the Parent company	592	221	76,448	92,386
      Affiliates and associates of the Parent company	-	-	7,453	7,221
      	33,752	24,036	123,461	101,032
      Subsidiaries

      In addition to sales and purchases of goods, the Company charged interest amounting to ₦8.8 billion (March 2025: ₦34.0 billion) on loans granted to subsidiaries. This interest is eliminated on consolidation.

      During the period, the Company provided materials and services of ₦19.9 billion (March 2025: ₦20.9 billion), used in the manufacturing process of subsidiaries.

      Interest charge from the Parent company to the Group amounted to ₦6.1 billion (March 2025: ₦5.3 billion) while the Group earned a total interest income of Nil (March 2025: ₦11.2 billion) from the Parent company.

      In addition to the above, Dangote Industries Limited performed certain administrative services for the Company, for which a management fee of ₦3.0 billion (March 2025: ₦2.7 billion) was charged, being an allocation of costs incurred by relevant administrative departments.

   2. Loans from related parties

      Group Company

      	31/03/2026	31/12/2025	31/03/2026	31/12/2025
      	₦'million	₦'million	₦'million	₦'million
      Parent company	-	299,554	-	299,554
      Affiliates and associates of the Parent company	66,681	73,407	-	4,753

      Notes to the condensed consolidated and separate interim financial statements For the three months ended 31 March 2026

6. Lease liabilities

   Group Company

   Payable within one year Payable after one year	31/03/2026 ₦'million 5,535 22,948	31/12/2025 ₦'million 6,221 24,597	31/03/2026 ₦'million 516 1,045	31/12/2025 ₦'million 484 1,045
   Lease liabilities	28,483	30,818	1,561	1,529

7. Share capital

   Group & Company

   Issued and fully paid: Share capital (16,873,559,251 (2023: 16,873,559,251) ordinary shares of ₦0.5 each)	31/03/2026 ₦'million 8,437	31/12/2025 ₦'million 8,437
   Share premium	42,014	42,014

   As at 31 March 2026, the Company held 121,404,714 (December 2025: 121,404,714), representing 0.72% (December 2025: 0.72%) of its own shares for which it had paid for and valued at ₦41.4 billion (December 2025: ₦41.4 billion).

8. Employee benefit obligations

   The Group operates an unfunded long service award for qualifying employees of the Group. Under the plan, the employees are entitled to benefits such as gift items, Ex-Gratia (expressed as a multiple of Monthly Basic Salary), a plaque and certificate on attainment of a specific number of years in service. The present value of the long service award, and the related current service cost and past service cost, were measured using the Projected Unit Credit Method.

9. IAS 29 Financial Reporting in Hyperinflationary Economies

   The Dangote Cement Plc Group classified Sierra Leone as hyperinflationary economies in accordance with the provisions of IAS 29, Financial Reporting in Hyperinflationary Economies. This is supported by the three years cumulative inflation in Sierra Leone which has reached 100%.

   During the period, gains on the net monetary positions amounting to ₦10.2 billion (March 2025: ₦10.6 billion ) and ₦5.9 billion (March 2025: ₦22.5 billion) were recorded in the statement of profit or loss and directly in equity respectively.

10. Contingent liabilities and contingent assets

The contingent liabilities in respect of pending litigations and other claims in these condensed consolidated and separate interim financial statements amounted to ₦455.8 billion (December 2025: ₦457.4 billion) and ₦94.8 billion (December 2025:

₦76.9 billion) for Group and Company respectively. The Group and Company have assessed these claims and believe that no material loss is expected to arise from them.