Cementos Argos Sa · BVC:CEMARGOS
Cementos Argos Sa — Q1 2026 Earnings Presentation
27 slides from Cementos Argos Sa's earnings presentation, May 13, 2026
Slide 1: Cementos Argos 1Q26 Results
Cementos Argos Click to edit Master title style 1Q26 Results 05/13/2026
Slide 2: Corporate Team and Operational 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 – 1Q26
X Detailed in Financial Results X Detailed next Click to edit Master title Highlights – 1Q26 style A B C Structural Solid Latam Advancing U.S. growth transformation performance strategy • Announced separation into • Adjusted EBITDA COP 271 • Second test shipment to Argos Latam and Argos billion (+4.
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 1. Maximize Growth Potential Board of Directors Cementos Argos 2. Increase Strategic Agility Juan Esteban Calle - Chairman 3. Drive Value Creation Tomás Restrepo Carlos Yust
Slide 6: Sprint
1 sprint
Slide 7: Since the Sprint launch, total shareholder return has reached 693% in USD
Since the Sprint launch, total shareholder return has reached 693% in USD Price Cemargos Distributions per share MSCI Small Cap Index USD 230 M Share Inclusion repurchase Sale of Summit's 14/11/2025 SPRINT 4.0 Market 30/08/2024 SPRINT SPRINT 2.0 Stake to Quikrete 19/02/2026 capitalization Launch USD
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 We are initiating this month our double market Operational and financial results maker structure,
Slide 9: US Growth Strategy
2 Us GROWTH STRATEGY
Slide 10: 1Q26 Key milestones in the US
1Q26 Key milestones in the US Advanced in production capacity with the scale-up of 6 to 1 10 million tons per year at our Dominican Republic quarry Progressed on logistics expansion with a world-class 2 engineering firm engaged for the development of a dedicated private port at quarry site Completed
Slide 11: Consolidated Results
3 Consolidated Results
Slide 12: 1Q26 – Operational resilience drives margin expansion in a mixed market environment
1Q26 – Operational resilience drives margin expansion in a mixed market environment EBITDA Margin % Change Cement Vol. (000’s MT) RMX Vol . (000s m3) Revenues (COP MM) EBITDA (COP MM) 21.0% 22.2% -0.8% +9.1% -0.8% +4.7% 2.094 2.077 1.231 1.222 570 522 258 271 1Q 1Q 1Q 1Q 2025 2026 Key messages ▪ Mix
Slide 13: Colombia Region
4 Colombia Region
Slide 14: 1Q26 – Colombia
1Q26 – Colombia EBITDA Margin % Change Cement Vol. (000’s MT) RMX Vol. (000’s m3) Revenues (COP MM) EBITDA (COP MM) 26.1% 24.4% +2.8% +8.5% +9.7% +2.6% 1.141 1.173 717 533 491 654 175 171 1Q 1Q 1Q 1Q Key messages 2025 2026 ▪ Strong top-line growth driven by volume recovery: Revenues reached COP 717
Slide 15: Caribbean and Central America Region
5 Caribbean and Central America Region
Slide 16: 1Q26 - Caribbean and Central America
1Q26 - Caribbean and Central America EBITDA Margin % Change Cement Vol. (000’s MT) RMX Vol. (000’s m3) Revenues (USD M) EBITDA (USD M) 21.0% 23.3% -5.1% +19.0% -6.3% +4.0% 953 137 905 129 37 30 29 31 1Q 1Q 1Q 1Q 2025 2026 Key messages ▪ Honduras: Market contracted amid government transition dynamics
Slide 17: 2026 Outlook
6 2026 Outlook
Slide 18: Guidance 2026
GUIDANCE 2026 GOAL 2026 1Q2026 EBITDA margin 24 -26% 22.2% Mid-term guidance: Within the next 2 years ROCE >16% 17% For the next 2 years LTM USD USD CAPEX 80 – 100 m 80 – 100 m 14.4 m LATAM US LATAM COP COP EBITDA ADJUSTED ≥1.3 Tn Equivalent to approx. USD 350 m 271 Bn USD 73 m NET DEBT/ EBITDA 2.0x
Slide 19: Balance Sheet
7 Balance Sheet
Slide 20: Debt Profile
Debt Profile Net Debt / (EBITDA + Dividends received) EBITDA / Net financial Expense ▪ The coverage ratio1 closed at -11x, as net financial expenses turned negative driven by 6,9x 5,9x 4,8x 4,5x 6,1x 4,6x 3,9x 4,1x 4,1x interest income from the Summit Materials 2,6x 2,7x divestment and lower financi
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.Q1 2026.Q1 Var 2025.Q1 2026.Q1 Var USD million 2025.Q1 2026.Q1 Var 2025.Q1 2026.Q1 Var Revenue 1.231 1.222 -0,8% 1.231 1.222 -0,8% Revenue 137 1
Slide 23: IFRS results per regional / other businesses
IFRS results per regional / other businesses Revenue EBITDA COP billion 2025.Q1 2026.Q1 Var 2025.Q1 Mgn (%) 2026.Q1 Mgn (%) Var pbs Colombia 654 717 9,7% ActualTotalCOPColombiaEBITDA 171 26,1% with IFRS16 175 24,4% -169 CCA 575 475 -17,3% 121 21,0% 111 23,3% 229 Central America 259 240 -7,1% ActualT
Slide 24: Reconciliation figures
Reconciliation figures QUARTER YTD Consolidated 2025.Q1 2026.Q1 2025.Q1 2026.Q1 Consolidated: EBITDA - IFRS COP Bn 258 270 258 270 • EBITDA for 1Q26 was adjusted to exclude non-recurring expenses IT Transformation Expenses COP Bn 0,4 0,4 associated with an IT structure transformation project. EBITDA
Slide 25: Income statement in USD
Income statement in USD thousands YTD March 26 YTD March 25 Income from operations 330.521 293.776 Variable costs (245.220) (218.353) Cost of sales (218.156) (196.365) Depreciation and amortization (27.064) (21.988) Gross profit 85.301 75.423 Gross margin 25,8% 25,7% Operational Expenses (41.886) (3
Slide 26: 1Q26 Consolidated Cash flow
1Q26 Consolidated Cash flow COP – Billion Notes and Reconciliations vs Accounting method 7 9.247 8.902 1 Includes non-recurring or non-cash items. 2 Includes the net result of financial expenses, gains from financial instruments, and income tax expenses. Includes working capital investments, mainten
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