Cemex and MPP collaborate to accelerate decarbonization projects

Monterrey, Mexico - May 9, 2024

• Cemex and the Mission Possible Partnership collaborate on an analysis of decarbonizationv levers in partnership with the Bezos Earth Fund.

Cemex and the Mission Possible Partnership (MPP), in partnership with the Bezos Earth Fund, are collaborating to conduct an analysis of the potential of decarbonization levers at Cemex's Balcones cement plant in Texas. This analysis aims to accelerate Cemex's commitment to achieving net-zero CO2 emissions by 2050.

There are various technological pathways to decarbonize the cement industry and MPP is assisting Cemex in evaluating these pathways at the production plant level, which includes the use of alternative fuels, incorporation of lower-carbon materials, carbon capture and storage, and the utilization of captured carbon to produce synthetic fuels, chemicals, or construction materials.

"Our collaboration with the Mission Possible Partnership represents a joint effort seeking to accelerate our sustainable commitments and comprehensively evaluate the extent to which we can utilize decarbonization levers within a specific plant ecosystem," said Fernando A. González, CEO of Cemex. "This involves leveraging scalable technologies that would contribute to achieving our ambitious decarbonization goals on the path to becoming a net-zero company by 2050."

The high heat required in cement production is a key challenge to decarbonizing the cement industry. Cemex and MPP are exploring technologies that can substitute fossil fuels traditionally used to heat kilns with waste, renewable gas, biomass, hydrogen, and electrification of the kilns as they strive for a more sustainable industrial production process.

MPP is driving industrial decarbonization across the entire value chain of the world's heaviest-emitting industry and transport sectors, including cement and concrete. Having created a series of transition strategies for reaching net zero emissions in these sectors, it is orchestrating collaboration with an expanding network of partners to enable commercial-scale deep decarbonization projects. Cemex is proud to partner with MPP in advancing decarbonization in the cement and concrete sector.

This partnership with MPP aligns with Cemex's Future in Action program, which focuses on achieving sustainable excellence through climate action, circularity, and natural resource management with the primary objective of becoming a net zero CO2 company by 2050. Through Future in Action, Cemex has achieved record-breaking progress in decarbonization. Since 2020, Cemex has reduced Scope 1 and 2 specific CO2 emissions by 13% and 12%, respectively, a pace that would have taken 15 years to accomplish previously.

About Mission Possible Partnership
Mission Possible Partnership (MPP) is a movement of climate leaders in business and civil society driving industrial decarbonization across the entire value chain of the world's highest-emitting sectors: aluminum, cement, chemicals, steel, aviation, shipping, and trucking. MPP is charting the inventive steps and radical collaboration to enable commercial-scale deep decarbonization projects in this decisive decade.

About Cemex
Cemex is a global construction materials company that is building a better future through sustainable products and solutions. Cemex is committed to achieving carbon neutrality through relentless innovation and industry-leading research and development. Cemex is at the forefront of the circular economy in the construction value chain and is pioneering ways to increase the use of waste and residues as alternative raw materials and fuels in its operations with the help of new technologies. Cemex offers cement, ready-mix concrete, aggregates, and urbanization solutions in growing markets around the world, powered by a multinational workforce focused on providing a superior customer experience enabled by digital technologies. For more information, please visit: www.cemex.com

Contact information

Analyst and Investor Relations
Blake Haider
+1 (212) 317-6011
[email protected]

Analyst and Investor Relations
Fabián Orta
+52 (81) 8888-4327
[email protected]

Media Relations
Jorge Pérez
+52 (81) 8259-6666
[email protected]

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