GCC B de C : Presentación Conferencia Telefónica

Q1 2022 EARNINGS CONFERENCE CALL

ENRIQUE ESCALANTE, CEO

LUIS CARLOS ARIAS, CFO

APRIL 27, 2022

This presentation has been prepared by GCC, S.A.B. de C.V. (together with its subsidiaries, "GCC"). Nothing in this presentation is intended to be taken by any person as investment advice, a recommendation to buy, hold or sell any security, or an offer to sell or a solicitation of offers to purchase any security.

SAFE HARBOR STATEMENT

Information related with the market and the competitive position of GCC was obtained from public sources that GCC believes to be reliable; however, GCC does not make any representation as to its accuracy, validity, timeliness or completeness. GCC is not responsible for errors and/or omissions with respect to the information contained herein. Due to rounding, numbers presented throughout this presentation may not add up precisely to the totals provided and percentages may not precisely reflect the absolute figures.

Forward Looking Statements

This presentation includes forward looking statements or information. These forward-looking statements may relate to GCC's financial condition, results of operations, plans, objectives, future performance and business. All statements that are not clearly historical in nature are forward-looking, and the words "anticipate," "believe," "expect," "estimate," "intend," "project" and similar expressions are generally intended to identify forward-looking statements. The information in this presentation, including but not limited to forward-looking statements, applies only as of the date of this presentation. GCC expressly disclaims any obligation or undertaking to update or revise the information, including any financial data and forward-looking statements as well as those related to the impact of COVID-19 on our business, suppliers, consumers, customers, and employees; disruptions or inefficiencies in the supply chain, including any impact of COVID-19.

Any projections have been prepared based on GCC's views as of the date of this presentation and include estimates and assumptions about future events which may prove to be incorrect or may change over time. The projections have been prepared for illustrative purposes only, and do not constitute a forecast. While the projections are based on assumptions that GCC believes are reasonable, they are subject to uncertainties, changes in economic, operational, political, legal or public healthy crises including COVID-19, and other circumstances and other risks, including, but not limited to, broad trends in business and finance, legislation affecting oursecurities, exchange rates, interest rates, inflation, foreign trade restrictions, and market conditions, which may cause the actual financial and other results to be materially different from the results expressed or implied by such projections.

EBITDA

We define EBITDA as consolidated net income after adding back or subtracting, as the case may be: (1) depreciation and amortization; (2) net financing expense; (3) other non-operating expenses; (4) taxes; and (5) share of earnings in associates. In managing our business, we rely on EBITDA as a means of assessing our operating performance. We believe that EBITDA enhances the understanding of our financial performance and our ability to satisfy principal and interest obligations with respect to our indebtedness as well as to fund capital expenditures and working capital requirements. We also believe EBITDA is a useful basis of comparing our results with those of other companies because it presents results of operations on a basis unaffected by capital structure and taxes. EBITDA, however, is not a measure of financial performance under IFRS or U.S. GAAP and should not be considered as an alternative to net income as a measure of operating performance or to cash flows from operating activities as a measure of liquidity. Our calculation of EBITDA may not be comparable to other companies' calculation of similarly titled measures.

Currency translations / physical volumes

All monetary amounts in this presentation are expressed in U.S. Dollars ($ or US$). Currency translations from pesos into U.S. dollars use the average monthly exchange rates published by Banco de México.

These translations do not purport to reflect the actual exchange rates at which cross-currency transactions occurred or could have occurred.

The average exchange rates (Pesos per U.S. dollar) used for recent periods are:

Q1 22: 20.51

-Q1 21: 20.33

Physical volumes are stated in metric tons (mt), millions of metric tons (mmt), cubic meters (m3), or millions of cubic meters (mm3).

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HIGHLIGHTS

• • Excellent start

• • Encouraging market trends

• • Results above expectations, despite challenges faced

  • • High inflation levels

  • • Interest rate hikes

  • • Supply chain & labor shortages

  • • Continuing pandemic

  • • War in Ukraine

  • • Economic sanctions against Russia

• • Serious implications throughout the industry

• • Highlighted GCC's competitive difference

• • Operations teams' efforts increased inventory

• • Plants planned outages for maintenance to ensure consistent production levels

• • Preparation for a strong construction season

• • Every kiln at GCC will be up and running to produce cement

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INFRASTRUCTURE

• • Projects running at a steady, but lower, pace

  U.S. OVERVIEW

• • States and DOTs preparing for additional funding from the U.S. Infrastructure Investment and Jobs Act

• • More selective in supplying these projects

  • • Switching shipments to more profitable segments

• • Upside in the mid-term

  • • The infrastructure bill will extend the cement cycle

• • Expect additional demand to start increasing in late 2023

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