Cementos Argos Sa · BVC:CEMARGOS
Cementos Argos Sa — Q2 2026 Earnings Presentation
27 slides from Cementos Argos Sa's earnings presentation, Aug 12, 2026
Slide 1: Cementos Argos 2Q26 Results
Cementos Argos Click to edit Master title style 2Q26 Results 08/12/2026
Slide 2: Corporate Team
Corporate Team Click to edit Master title style Tomás Restrepo Natalia Ochoa Maria Isabel Echeverri Executive VP CFO VP of Corporate Affairs Operational Team Carlos Yusty Jason Teter CEO Argos Latam CEO Argos Materials
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 – 2Q26
X Detailed in Financial Results X Detailed next Click to edit Master title Highlights – 2Q26 style A B C Structural transformation Solid Latam performance Advancing U.S. growth strategy • Taking concrete internal steps • Colombia local market volumes • Leadership team taking shape toward two indepen
Slide 5: New operating model to unlock value through two focused platforms
New operating model to unlock value through two focused platforms, positioned to capture growth opportunities in their markets 2Q Progress • Assessment of the value creation potential of the separation and the paths to capture that value for our shareholders • Organizational structure and governance
Slide 6: Sprint
1 sprint
Slide 7: Since the Sprint launch, total shareholder return has reached 750% in USD
Since the Sprint launch, total shareholder return has reached 750% in USD Price Cemargos Distributions per share USD 230 M Share MSCI Small Cap Index repurchase Inclusion Market SPRINT SPRINT 2.0 Sale of Summit's 14/11/2025 SPRINT 4.0 capitalization 30/08/2024 Stake to Quikrete Launch USD 22/02/2024
Slide 8: SPRINT 4.0: a two-year program focused on U.S. presence and share liquidity
SPRINT 4.0: a two-year program focused on consolidating a relevant U.S. market presence and increasing share liquidity, key enablers of our strategic plan to build two separate platforms Stock liquidity Operational and financial results Our double market maker structure is now fully active, an impor
Slide 9: Consolidated Results
2 Consolidated Results
Slide 10: 2Q26 - Solid demand dynamics sustain top-line growth
2Q26 - Solid demand dynamics sustain top-line growth in a maintenance-heavy semester EBITDA Margin % Change Cement Vol. (000’s MT) RMX Vol . (000s m3) Revenues (COP MM) EBITDA (COP MM) 23.0% 21.2% 22.0% 21.7% -7.4% -4.3% +15.5% +12.4% +2.4% +0.9% -5.2% -0.6% 4,527 4,331 1,206 2,514 2,536 2,433 1,073
Slide 11: US Growth Strategy
3 Us GROWTH STRATEGY
Slide 12: 2Q26 Key milestones in the US
2Q26 Key milestones in the US Jason Teter Made significant progress in building our U.S. leadership Chief Executive Officer 1 team, incorporating seasoned executives across finance Two decades of experience in construction materials , ~10 years at Vulcan Materials and 10 years at Lafarge North Ameri
Slide 13: Colombia Region
4 Colombia Region
Slide 14: 2Q26 – Colombia
2Q26 – Colombia EBITDA Margin % Change Cement Vol. (000’s MT) RMX Vol. (000’s m3) Revenues (COP MM) EBITDA (COP MM) 25.7% 27.9% 25.9% 26.2% +5.5% +4.2% +15.9% +12.3% +4.1% +6.8% +13.1% +8.0% 1,133 1,437 1,009 1,345 2,369 2,469 376 348 1,228 1,296 600 691 720 518 201 178 2Q YTD 2Q YTD 2Q YTD 2Q YTD K
Slide 15: Caribbean and Central America Region
5 Caribbean and Central America Region
Slide 16: 2Q26 - Caribbean and Central America
2Q26 - Caribbean and Central America EBITDA Margin % Change Cement Vol. (000’s MT) RMX Vol. (000’s m3) Revenues (USD M) EBITDA (USD M) 26.9% 19.8% 24.0% 21.3% -20.5% -13.7% +9.3% +14.0% +15.0% +4.5% -15.4% -7.1% 2,157 290 1,862 278 73 67 62 1,204 64 162 141 957 38 33 36 32 2Q YTD 2Q YTD 2Q YTD 2Q YT
Slide 17: 2026 Outlook
6 2026 Outlook
Slide 18: Guidance 2026
GUIDANCE 2026 GOAL 2026 1H2026 EBITDA margin 24 -26% 21.7% Mid-term guidance: Within the next 2 years ROCE >16% 16.5% For the next 2 years LTM USD USD CAPEX 80 – 100 m 80 – 100 m 33.8 m LATAM US LATAM COP COP EBITDA ADJUSTED ≥1.3 Tn Equivalent to approx. USD 350 m 550 Bn USD 150 m NET DEBT/ EBITDA 2
Slide 19: Balance Sheet
7 Balance Sheet
Slide 20: Debt Profile
Debt Profile Net Debt / (Adj. EBITDA + Dividends received) Adj. EBITDA / Net financial Expense ▪ The coverage ratio1 closed at -5.5x, as net financial expenses turned negative driven by 6.4x 5.9x 5.6x 4.5x 4.2x 4.2x 3.8x 4.1x 4.0x 4.3x interest income from the Summit Materials 2.9x divestment and lo
Slide 21: Appendix
o ARGOS APPENDIX
Slide 22: Detailed adjusted figures
Detailed adjusted figures Consolidated: Central America & Caribbean: Key Figures - Adjusted QUARTER YTD Key Figures - Adjusted QUARTER YTD COP billion 2025.Q2 2026.Q2 Var 2025.Q2 2026.Q2 Var USD million 2025.Q2 2026.Q2 Var 2025.Q2 2026.Q2 Var Revenue 1,283 1,315 2.4% 2,514 2,536 0.9% Revenue 141 162
Slide 23: IFRS results per regional / other businesses
IFRS results per regional / other businesses Revenue EBITDA COP billion 2025.Q2 2026.Q2 Var 2025.Q2 Mgn (%) 2026.Q2 Mgn (%) Var pbs Colombia 691 720 4.1% ActualTotalCOPColombiaEBITDA 172 24.9% with IFRS16 201 27.9% 296 CCA 590 585 -0.8% 106 17.9% 116 19.8% 187 Central America 246 257 4.4% ActualTota
Slide 24: Reconciliation figures
Consolidated QUARTER YTD Reconciliation figures 2025.Q2 2026.Q2 2025.Q2 2026.Q2 EBITDA - IFRS COP MM 235 279 493 549 Consolidated: M&A and strategic transaction costs COP MM 7 7 Asset impairment in Puerto Rico (2025) COP MM 53 53 • 2Q26 EBITDA: adjusted to exclude non-recurring expenses IT Transform
Slide 25: Income statement in USD
Income statement in USD thousands YTD Jun 26 YTD Jun 25 Var.% Income from operations 693,924 599,355 15.8 Variable costs (522,796) (442,258) 18.2 Cost of sales (468,986) (397,920) 17.9 Depreciation and amortization (53,810) (44,338) 21.4 Gross profit 171,128 157,097 8.9 Gross margin 24.7% 26.2% Oper
Slide 26: 2Q26 Consolidated Cash flow
2Q26 Consolidated Cash flow COP – Billion Notes and Reconciliations vs Accounting method 7 1 Non-recurring or non-cash items. Includes a COP 64 9,247 8,060 billion provision related to a legacy legal matter associated with the previously divested U.S. business, recognized within discontinued operati
Slide 27: IR Team Contact Information
Carolina Velásquez [email protected] Daniel Zapata Contact [email protected] Information Juan Santiago Alba IR TEAM [email protected] IR Website https://argos.co/en/ir/ This recognition, called Reconocimiento Emisores – IR is given by the Colombian Stock Exchange, Bolsa de Val