Cementos Argos S.A.

Good morning everyone. Thank you for being here with us today to discuss our fourth quarter results. My name is Carolina Velazquez. I am Cementos Argos investor relations officer and I will be hosting today's call. On the call today are Juan Esteban Calle, our CEO, Felipe Aristizabal, our CFO, Manizabela Echeverry, the VP of Legal Affairs, Carlos Giusti, the VP of the Columbia Division, Gustavo Uribe, the leader of Central America, and Jason Titor, the newly appointed CEO of Argos Materials. First, I would like to ask you to carefully read the legal disclaimer that is currently being projected on the screen, which is also available on the presentation that is posted on our website. Please consider that all the discussions of the financial and operational results held during the call will be based on the adjusted figures, excluding non-recurring and non-core operations. For a detailed reconciliation of the adjustments, please refer to the annexes of our presentation. Today, after the initial remarks, there will be a Q&A session. If you have a question, please raise your hand by pressing the icon at the bottom of your screen at any time during the conference. We will record this session and upload it to our webpage. It is now my pleasure to turn the call over to Juan Esteban.

Thank you, Carolina, and welcome to everyone joining us today. 2025 was an exceptional year for us and I would like to highlight three key achievements. First, our LATAM operations, which showed remarkable resilience in overcoming challenges across core geographies, emerging stronger and more efficient to capture future opportunities. In other markets, we leveraged favorable dynamics, deep industry expertise, and long-standing client relationships to deliver a differentiated value proposition. As a result, we delivered an EBITDA of 1.28 trillion pesos, achieving a 25% margin one year ahead of schedule. This accomplishment was supported by a highly sustainable operation reflected in our score of 86 out of 100 in the 2025 S&P Corporate Sustainability Assessment, a rating that positioned us among the top performers in our industry. We feel immensely proud of this result as a reflection of the unparalleled execution capabilities of our teams. Strategically, we are well positioned for continued growth across the region, including Venezuela's recovery, where our brand already enjoys strong recognition. In preparation for a transition in Venezuela, we started positioning our brand in the market since 2023. Today, we export nearly 1,000 tons of white cement each month and are ramping up the exports of gray cement to about 900 clients covering 23 states and the districts of Caracas, with the goal of exceeding 5,000 tons per month very soon. We are convinced that with our proud operational experience in the country and the pending liberal claim that we have for the expropriation of porcelain assets in 2006, we are in a prime position to take advantage of the eventual reconstruction of the country. for our shareholders. 2025 was a record year in distributions, with over 3.5 trillion pesos returned through dividends, buybacks, and the spin-off of Puru Pulsuda's shares, boosting total shareholder returns to over 700% in U.S. dollars since the launch of the spring program through January of 2026. Third, our U.S. expansion will re-enter the market through the launch of our aggregates platform, successfully advancing the first phase of our growth strategy. Our first shipment of 47,000 tons arrived in Tampa, and we secured two additional port positions on the southeastern coast of the U.S. Akim Alston was the appointment of Jason Titor, a CEO of Argus Materials LLC, Jason brings extensive leadership experience from Vulcan Materials and Lafarge USA with a proven track record in strategy and business development, operational excellence, discipline growth, and commercial strategy in the U.S. aggregate sector. We are thrilled to have Jason on our team. With this brief overview, I would now like to invite Jason to introduce himself and share his perspective on our US strategy.

Thank you, Juan, and good morning, everyone. It is with great pleasure that I today join my first earnings call as part of the Cementos Argos team. As I have said, it is an honor to assume the role of CEO of Argos Materials at such a relevant moment for the company. Cementos Argos has a clear vision, a strong culture, strategic assets, and an exceptional team. I'm excited to build a world-class team to lead this new phase and contribute to creating a differentiated platform that delivers high quality, high impact solutions for our customers in the United States. I want to start this short intervention by reminding everyone of the great opportunity that lies before us. Aggregates is a large industry in the U.S. They are the backbone of concrete, asphalt, and infrastructure projects. Its production is closely related to population base and follows population growth. Combined, construction aggregates made up over 50% of the total U.S. industrial minerals value, surpassing cement, that represents around 16% of all other segments. Its main attribute is the constantly compounding growth of its price throughout the last 24 years, with an average growth rate per year of 4.9% between 2000 and 2024. This performance is supported by four drivers, scarcity of reserves, market dynamics that enable the formation of micro-markets shaped by logistics, operational characteristics, and high barriers to entry. Argos has the right capabilities to capitalize on this opportunity, with premium source assets in Central America and the Caribbean, a unique firepower to acquire and develop synergistic assets in the U.S., expertise and robust network of import sources and a strong reputation and extensive experience in the U.S. market. It is strongly positioned to become a relevant market player and generate value to its shareholders. We have a goal of building a business in the next five years that will earn more than $200 million. The strategy is a hybrid approach combining organic and inorganic growth with an aggregates platform focused on imports and local supply capabilities. We will get further details on the business plan soon and keep all the market informed about our advancements. Thank you.