Cemex advances on growth strategy in Europe with new acquisition to bolster the Urbanization Solutions business

• Cemex acquires mortar plant to better serve Madrid's urbanization needs.

Cemex has acquired a mortar plant near Madrid, Spain, as part of its ongoing strategy to increase EBITDA through bolt-on acquisitions, focusing on providing more sustainable alternatives to growing urban centers.

The new plant is equipped with the latest technology to enable the production of traditional and specialty mortars with enhanced sustainability attributes. Cemex's nearby Castillejo cement plant will supply lower-carbon Vertua cement for mortar production. The mortar plant is located only 35 kilometers (22 miles) from Madrid, contributing to reduce the overall Scope 3 emissions related to product transportation. The plant will form part of Cemex's Urbanization Solutions business and is expected to reach 100,000 metric tons of production at full capacity.

"A cornerstone of our growth plan is using strategic bolt-on acquisitions to increase our capacity to serve growing urban markets with more sustainable and innovative products," said Sergio Menéndez, President of Cemex Europe, Middle East, Africa & Asia. "This new plant will bring us closer to our customers in the expanding Madrid market, providing them with innovative building solutions for more sustainable construction."

Mortars are binding agents that use cement to hold together bricks, concrete blocks, and other masonry materials. Specialty mortars can be used to install other materials such as ceramic and tile. Mortar is essential to many construction projects, particularly for building renovations in developed markets. Cemex offers a wide range of mortars in its markets worldwide as part of its Urbanization Solutions business.

Cemex's bolt-on acquisition strategy and its Urbanization Solutions business have been strong growth drivers for the company. For the first quarter of 2023, the company reported EBITDA growth of 34% in its Urbanization Solutions business, and an incremental EBITDA contribution of US$40 million from growth investments and Urbanization Solutions.

About Cemex
Cemex, S.A.B. de C.V. ("Cemex") (NYSE: CX) 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

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This press release contains, and the reports we file or furnish in the future may contain, forward-looking statements within the meaning of the U.S. federal securities laws. Cemex intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. federal securities laws. These forward-looking statements reflect Cemex's current expectations and projections about future events based on Cemex's knowledge of present facts and circumstances and assumptions about future events, as well as Cemex's current plans based on such facts and circumstances. These statements necessarily involve risks, uncertainties, and assumptions that could cause actual results to differ materially from Cemex's expectations, including, among others, risks, uncertainties, and assumptions discussed in Cemex's most recent annual report and detailed from time to time in Cemex's other filings with the Securities and Exchange Commission and the Mexican Stock Exchange (Bolsa Mexicana de Valores), which factors are incorporated herein by reference, which if materialized could ultimately lead to Cemex's expectations and projections not producing the expected benefits and/or results, including the announced transaction to not produce the expected results. No assurance can be given that the transactions described herein will be consummated or as to the ultimate terms of any such transaction. These factors may be revised or supplemented and the information contained in this press release is subject to change without notice, but Cemex is not under, and expressly disclaims, any obligation to update or correct this press release or revise any forward-looking statement contained herein, whether as a result of new information, future events or otherwise, or to reflect the occurrence of anticipated or unanticipated events or circumstances. Any or all of Cemex's forward-looking statements may turn out to be inaccurate. Accordingly, undue reliance on forward-looking statements should not be placed, as such forward-looking statements speak only as of the dates on which they are made. The transaction described herein is not material to Cemex's results of operations, liquidity, or financial condition. The content of this press release is for informational purposes only, and you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

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