3Q22 Results

Disclaimer

This document contains forward-looking statements and information related to Cementos 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 future events.

Various factors may cause Argos' actual future results, performance or

accomplishments to differ from those expressed or assumed herein.

If an unexpected situation presents itself or if any of the premises or of the company's estimations turn out to be incorrect, future results may differ significantly from the ones that are mentioned herein.

The forward-looking statements are made to date and Argos does not assume any obligation to update said statements in the future as a result of new information, future events or any other factors.

All the discussions on the financial and operational results held during the call, will be based on the adjusted figures, excluding non-recurring and non-core operations. For a detail on the reconciliation and the adjustments please refer to the annexes of our quarterly report.

Our financial performance is the result of the consistent execution of a strategy supported by our supply chain, logistics network and pricing power

19%

+20bp

1.48

trillion COP

EBITDA Margin of 3Q22

Margin expansion versus 3Q21

All Time High YTD EBITDA as of September

A strategy based on three pillars:

1. Supply chain

Maximization of dispatches in a context of high utilization rates and global logistic disruptions

2. Logistics Network

Full integration of our operations, achieving important milestones such as increasing the supply of cement from our operations in Colombia to the US and the

CCA

3. Pricing power

An effective pricing strategy that has resulted in price increases of 16% in the US, 18% in Colombia and 26% in CCA

The transformation of the company has required certain non- recurring operations that are adjusted to analyze the performance

COP bn

Revenues

Adj. 3Q21 YTD

7,081

EBITDA

1,418

Adj. 3Q21 YTD

Profit

226

Net

Adj. 3Q21 YTD

Reconciliation of consolidated figures YTD 3Q22

+21%

L-F-L

IFRS 3Q22 YTD

Adj. 3Q22 YTD

+4%

L-F-L

IFRS 3Q22 YTD

Adj. 3Q22 YTD

-1.7%

L-F-L

IFRS 3Q22 YTD

Intercompany

Adj. 3Q22 YTD

Divested Operations

Listing expenses

operations

Despite the positive evolution of the company's results, the market value of our shares has consistently decreased over the last 5 years

$14.000

2,2$12Bn.000

$10.000 2,0 Bn

$8.000 1,8 Bn

$6.000

1,6 Bn

$4.000

1,4 Bn $2.000

1,2 Bn

$-

4,6x

5,0x

4,5x

4,1x

4,5x

3,7x

2,0 Tn

4,0x

1,9 Tn

3,5x

▲ 42%

2,9x

2,8x

3,0x

▼ 72%

2,5x

1,6 Tn

1,6 Tn

2,0x

1,5 Tn

1,5x

1,4 Tn

1,0x

0,5x

0,0x

2017

2018

2019

2020

2021

2022 Q3 LTM

EBITDA

DN/EBITDA

Cemargos

  • Between December 2017 and September 2022, the adjusted trailing 12 months EBITDA went from $1,4 to $2 trillion pesos, increasing 42%
  • In that same period, the leverage of the company decreased 38%, from 4,6x in 2017 to 2,8x in September 2022
  • Surprisingly, our ordinary stock went from $11.860 in 2017 to $3.330 in October 2022, falling 72%

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Cementos Argos SA published this content on 09 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 November 2022 12:30:01 UTC.