Slides
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1 Q3 2026 TRADING UPDATE STEFFEN KINDLER | CFO MILJAN GUTOVIC | CEO 23 October 2026
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2 BUSINESS REVIEW 23 October 2026 Q3 TRADING UPDATE
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DOUBLE-DIGIT RECURRING EBIT GROWTH, MARGIN INCREASE AND GUIDANCE UPGRADE 3 23 October 2026 Q3 TRADING UPDATE Strong net sales for 9M 15.5% growth in CHF in Q3 Double-digit organic growth in recurring EBIT for 9M 16.8% growth in CHF in Q3 Strong momentum in Q3 driving year-to-date margin expansion Net sales: ~5% organic growth Recurring EBIT: upgraded to 10%-12% organic growth with further margin increase Free cash flow: ~CHF 2 bn ACQUISITION OF FERMACELL Entered into an agreement to acquire Fermacell, established European provider of walling and flooring solutions1 CHF 12.6 bn NET SALES +5.2% OG CHF 2.4 bn RECURRING EBIT +11.8% OG 19.2% REC. EBIT MARGIN +10 bps FY 2026 GUIDANCE UPGRADE 1 The transaction is subject to customary conditions and regulatory clearances
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9M REGIONAL HIGHLIGHTS – EUROPE Key financials Robust net sales development driven by Germany, Greece, Romania, Spain and Switzerland Recurring EBIT up 5.1% organically, driven by strict cost discipline and impeccable execution of our strategy Highlights Agreement to acquire Fermacell, European provider of walling and flooring solutions1 Commissioning of a calcined clay line in the Czech Republic and state-of-the-art cement production facility in the UK Outlook Strong infrastructure pipeline from roads and tunnels to power generation Xella integration in full execution, with synergies of EUR 60 million in year 3 confirmed 4 23 October 2026 Q3 TRADING UPDATE 1 The transaction is subject to customary conditions and regulatory clearances
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9M REGIONAL HIGHLIGHTS – LATIN AMERICA 5 23 October 2026 Q3 TRADING UPDATE Key financials Net sales up 6.2% organically, driven by growth in Mexico and Central America Recurring EBIT margin of 30% and positive price over cost driven by operational excellence Highlights Continued expansion of Disensa network with 46 new stores in Q3, bringing the total to over 2 460 Alternative fuel substitution1 increasing in the region, reducing exposure to energy price volatility Outlook Strong backlog of infrastructure projects across the whole region Pacasmayo integration in full execution, delivering synergies of USD 40 million ahead of plan 1 Alternative fuels as %, also known as Thermal Substitution Rate (TSR), is the ratio of thermal energy consumption of alternative fuels to the total amount of thermal energy consumption in the cement kiln system
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9M REGIONAL HIGHLIGHTS – ASIA, MIDDLE EAST & AFRICA Key financials Strong organic growth, with net sales up 7.9% and overproportional recurring EBIT growth of >22% Continued margin expansion reaching 26.1%, up 100 bps, with positive price over cost Highlights Continued portfolio optimization with focus on the most attractive markets Commissioning of a first-of-its-kind carbon capture and underground mineralization pilot in the UAE Outlook Robust government funding for infrastructure across Australia and North Africa Economic growth and investments ahead of the 2030 FIFA World Cup in Morocco Q3 TRADING UPDATE6 23 October 2026
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STRONG ORGANIC GROWTH IN NET SALES OF 5.2% 7 23 October 2026 Q3 TRADING UPDATE 9M 2025 9M 2026Organic growth FX 11 906 +586 -172 -1.4% 12 586 M&A +266 +2.2% Net sales bridge9M CHF m and % change +5.2%
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DOUBLE-DIGIT ORGANIC GROWTH IN RECURRING EBIT 8 23 October 2026 Q3 TRADING UPDATE Recurring EBIT bridge9M 9M 2025 9M 2026Organic growth FX 2 275 +246 -16 -0.7% 2 414 M&A -91 -4.0% CHF m and % change +11.8%
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FURTHER EXPANSION OF INDUSTRY-LEADING MARGIN 9 23 October 2026 Q3 TRADING UPDATE Recurring EBIT and margin 19.1%18.3% 2 232 2 414 9M 2024 9M 2025 9M 2026 %9M recurring EBIT (CHF m) 9M recurring EBIT margin 9M 19.2% 2 275 Note: Comparative information is restated for discontinued operations
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WELL-DIVERSIFIED PORTFOLIO DRIVING PROFITABLE GROWTH 10 23 October 2026 Q3 TRADING UPDATE NET SALES To external customers (CHF m) RECURRING EBIT (CHF m) % ORGANIC GROWTH / DECLINERECURRING EBIT MARGIN & VARIANCE 661 2 371 26.1% +100 bps Europe Asia, Middle East & Africa 16.9% -30 bps +2.2% +5.1% +6.2% +4.6% +7.9% +22.3% 30.0% -120 bps Latin America 7 011 1 193 Note: Margin expressed as recurring EBIT divided by total net sales French West Indies, previously reflected under Latin America, is now reported under the geographical region of Europe to alig n with the current internal management structure 826 2 746
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11 STRATEGY UPDATE 23 October 2026 Q3 TRADING UPDATE
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HOLCIM TO EXPAND BUILDING SOLUTIONS WITH ACQUISITION OF FERMACELL 12 23 October 2026 Q3 TRADING UPDATE 5 Run-rate EBITDA synergies of around EUR 22 million to be realized in year three. Expected to close in H1 20271 4 A milestone in Holcim's NextGen Growth 2030 strategy shaping the future of sustainable construction 1 Established European provider of walling and flooring solutions with projected 2026 net sales of around EUR 430 million 2 Premium brands fermacell® and Aestuver® expanding Holcim’s high-value Building Solutions 1 The transaction is subject to customary conditions and regulatory clearances 3 Well-positioned for growth in new build and repair & refurbishment
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FERMACELL AT A GLANCE 13 23 October 2026 Q3 TRADING UPDATE Superior network covering key markets in Europe ● >1 000 employees incl. >250 salespeople ● Headquartersin Düsseldorf, Germany ● R&D center in Bad Grund, Germany ● 6 production facilities Specialized fibre gypsum and cement-bonded boards Production sites Headquarters Logistic hubs R&D Sales offices Cement-bonded fire board Fibre gypsum boards (wall) Fibre gypsum boards (floor) Cement-bonded board
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14 INTEGRATED BUILDING SOLUTIONS POWERED BY PREMIUM BRANDS 23 October 2026 Q3 TRADING UPDATE ROOFING WALLING ELEVATE FOUNDATION FLOORING Fermacell is subject to customary conditions and regulatory clearances, expected to close in H1 2027
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15 NEXTGEN GROWTH 2030 DRIVING SUPERIOR PERFORMANCE 23 October 2026 Q3 TRADING UPDATE • Embedded performance culture delivering superior financial performance • Continuous value-accretive M&A with focus on the most attractive markets • Expansion of high-value Building Solutions capturing new profitable market segments • Enhancing our leading positions with our sustainable offering powered by premium brands* INDUSTRY-LEADING RECURRING EBIT MARGIN 19.2% in 9M 2026 • Decarbonization and circular construction driving profitable growth
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16 SCALING SUSTAINABLE OFFERING TO MEET CUSTOMER DEMAND 23 October 2026 Q3 TRADING UPDATE 9M 2026 9M 2025 33% 32% % of ready-mix concrete net sales National Athletics center in Budapest, Hungary Built with ECOPlanet* Note: ECOPact and ECOPlanet net sales are presented at constant scope. ECOCycle volume for the current year has been adjusted for acquisitions and divestments 9M 2026 9M 2025 43% 36% % of cement net sales 9M 2026 9M 2025 7.4 5.6 Volume of CDM (million tons)
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DRIVING GROWTH WITH ORGANIC INVESTMENTS 17 23 October 2026 Q3 TRADING UPDATE 1 Partially replace clinker with calcined clay, reducing the cement’s carbon footprint by around 30%, with no compromise in performance. 2 Diverse range of traditional and innovative products, including GGBS, ECOPlanet and other low carbon and circular cementitious materials Čížkovice, Czech Republic Tilbury, UK 580k tons ECOPlanet p.a. -30% CO2 footprint1 730k tons material2 p.a. 30k tons storage in dome silo Calcined clay line to scale sustainable offering Country’s first calcined clay unit New state-of-the-art facility Will meet rising demand for high-value building solutions ● Annual capacity >115k tons of calcined clay ● CHF 13m funded by nation’s Modernization Fund of the Ministry of the Environment ● Payback ~5.5 years ● Over 25k m3 of concrete from the original site recycled and reused to build terminal ● First cement with CDM inside in the UK ● Payback ~7.5 years
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11 VALUE-ACCRETIVE TRANSACTIONS CLOSED 18 23 October 2026 Q3 TRADING UPDATE Expanding in high-value Building Solutions Acquisitions • AFC Recycling France (construction demolition materials) • Cementos Pacasmayo Peru (cement) • Cem’In’Eu Group France (cement) • Uranus Pluton SRL Romania (aggregates) Divestments • Holcim Liban S.A.L. Lebanon & Cyprus (cement) Acquisitions • 3B France (ready-mix concrete) • Ready-mix business of BHR, Nantes area France (ready-mix concrete) • Jacobs NV Belgium (ready-mix concrete) • Josef Klösters Kies & Beton GmbH Germany (ready-mix concrete) • Ready-mix business of Stevenson Group New Zealand (ready-mix concrete) • Xella Group 22 countries across Europe (building systems, walling) Strengthening leadership in Building Materials Kaktus Tower in Copenhagen, Denmark Built with ZinCo
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19 OUTLOOK 23 October 2026 Q3 TRADING UPDATE
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20 GUIDANCE 2026 UPGRADED ● 2026 growth at the high end with NextGen Growth 2030 targets: ○ ~5% organic net sales growth ○ 10%-12% organic recurring EBIT growth ● Further increase of recurring EBIT margin ● Free cash flow of around CHF 2 billion ● >20% growth in recycled construction demolition materials 23 October 2026 Q3 TRADING UPDATE
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UPCOMING EVENTS AND CONTACTS 21 23 October 2026 Q3 TRADING UPDATE Bernd Pomrehn Head Investor Relations bernd.pomrehn@holcim.com Bénédicte Mayer Senior Investor Relations Manager benedicte.mayer@holcim.com Tia Oreskovic Investor Relations Manager tia.oreskovic@holcim.com Holcim Investor Relations Email: investor.relations@holcim.com Phone: +41 58 858 87 87 April 23 Q1 2027 trading update February 25 Full-year 2026 results May 20 Annual General Meeting 2027 July 29 Half-year 2027 results
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22 APPENDICES 23 October 2026 Q3 TRADING UPDATE
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23 23 October 2026 Q3 TRADING UPDATE [CHF m and % change] Q3 2025 4 036 Q3 2026 4 662 FX +2.4% +96+199 Organic growth +5.1% +331 M&A +8.2% Q3 ORGANIC NET SALES GROWTH OF 5.1%
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Q3 ORGANIC RECURRING EBIT GROWTH OF 12.2% 24 23 October 2026 Q3 TRADING UPDATE [CHF m and % change] Q3 2025 836 Q3 2026 976 FX +2.9% +24+96 Organic growth +12.2% +20 M&A +2.4%
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Q3 REGIONAL OVERVIEW 25 23 October 2026 Q3 TRADING UPDATE NET SALES To external customers (CHF m) RECURRING EBIT (CHF m) % ORGANIC GROWTH / DECLINERECURRING EBIT MARGIN & VARIANCE 247 862 26.8% +130 bps Europe Asia, Middle East & Africa 19.4% -150 bps +3.9% +5.0% +6.3% +10.5% +6.8% +19.4% 29.1% +90 bps Latin America 2 628 512 302 1 032 Note: Margin expressed as recurring EBIT divided by total net sales French West Indies, previously reflected under Latin America, is now reported under the geographical region of Europe to alig n with the current internal management structure
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HOLCIM’S ESG LEADERSHIP RECOGNIZED BY RATINGS AGENCIES SUSTAINALYTICS RECOGNIZES HOLCIM AS #1 IN THE SECTOR 26 23 October 2026 Q3 TRADING UPDATE A List, Climate & Water Only 4% of companies rated reached the double A List in 2025 Low Risk Rating Ranked #1 out of 119 companies in the sector AAA Leader among construction materials sector B-, Prime Status Ranked in the top 8% vs companies in the sector A Score, Leader Best-in class in governance, scope 3 and value chain engagement ESG Index Inclusion Significantly exceeded the industry average score
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GLOSSARY 27 23 October 2026 Q3 TRADING UPDATE Definitions • Constant scope: Excludes the year-over-year impact of acquisitions and divestments. • ECOPact: Achieves at least 30% lower GWP (kg CO2e/m3, A1- A3 scope) compared with the applicable Ordinary Portland Cement (CEM I/Type I) concrete reference. • ECOPlanet: Achieves at least 30% lower GWP (kg CO2e/t, A1- A3 scope) compared with the applicable Ordinary Portland Cement (CEM I/Type I) reference. • ECOCycle: Holcim circular technology that guarantees a minimum of 10% and up to 100% recycled construction demolition materials by total product weight. • Organic growth: Organic growth information factors out changes in the scope of consolidation (such as divestments and acquisitions occurring in the current year and the prior year) and currency translation effects (current-year figures are converted with prior-year exchange rates in order to calculate the currency effects). • Sustainable offering: Holcim is scaling its sustainable offering - from ECOPact low-carbon concrete and ECOPlanet low-carbon cement to ECOCycle circular technology - across all of our markets as demand continues to grow. Abbreviations • Bps: Basis points • CDM: Construction demolition materials • EBIT: Earnings before interest and taxes • GGBS: Ground granulated blast-furnace slag • GWP: Global warming potential • OG: Organic growth
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DISCLAIMER 28 23 October 2026 Q3 TRADING UPDATE By accessing this presentation (and the information contained herein), you agree to be bound by and liable for breach of the following terms and conditions: The presentation (and the information contained herein) is provided to you by Holcim Ltd (“Holcim”) and/or any of its subsidiaries or affiliates (together with Holcim, collectively, the “Holcim Group”) on a confidential basis. You hereby undertake, unconditionally and without any limitation or restriction (i) not to disclose, re-distribute, pass on and or make available, whether directly or indirectly, all or part of the presentation (and the information contained herein) to any third-party (including, but not limited to, the press) and (ii) not to publish or reproduce all or part of the presentation (and the information contained herein). The information contained in this presentation has been prepared as of the date of this presentation. 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The assumptions and estimates underlying the projected, expected or targeted results are inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the financial projections, estimates and targets. The inclusion of financial projections, estimates and targets in this presentation should not be regarded as an indication that Holcim or its representatives, considered or consider the financial projections, estimates and targets to be a reliable prediction of future events. Photo credits Slide 4: DEGES Slide 17: Holcim Hungary and Digital Fusion