Holcim : Engagement Presentation

The Spheres Seattle, ECOPlanet Cement

ENGAGEMENT PRESENTATION - AGM 2024

MARCH - APRIL 2024 / AGM 2024

01. HOLCIM HIGHLIGHTS

02.

03.

04.

LEADERSHIP

REMUNERATION CLIMATE REPORT

Striatus Bridge, 3D Printed with Tector, Venice, Italy

KEY HIGHLIGHTS IN 2023 DELIVERING RECORD RESULTS

	1.	Mature markets comprise North America, Europe and Oceania (Australia & New Zealand)
3	2.	2023 Scope 1 + Scope 2 CO2 emissions per million of net sales compared to 2022
3.	Compared to 2022

2023 HIGHLIGHTS

ACHIEVING STRATEGY 2025 AHEAD OF PLAN

Record results 2023

• Recurring EBIT of CHF 4'760 million +14.7% organic growth
• Free Cash Flow of CHF 3'705 million
• EPS1 of CHF 5.42 per share, +9%2
• Proposed dividend of CHF 2.80 per share, +12%
• New share buyback of CHF 1 billion in 2024

Outlook 2024

• Organic Net Sales growth of above 4%, additional growth from M&A of above 2%
• Increase in recurring EBIT margin to 18%
• Free Cash Flow above CHF 3 billion

Achieving Strategy 2025 ahead of plan

• Industry-leadingmargins with 17.6% in recurring EBIT
  and 13.7% in Free Cash Flow
• Financial strength from Balance Sheet to credit rating
• 97 value accretive transactions between 2018-2023
• Rapid expansion of Solutions & Products
• Decarbonization driving profitable growth
• Fast paced growth in circular construction
• 30% of Sales from advanced branded solutions
• Empowered leadership with strong performance culture

4

1 Before impairment & divestments

2 Compared to 2022 before DOJ resolution

STRATEGY 2025 "ACCELERATING GREEN GROWTH" FINANCIAL TARGETS ACHIEVED 2 YEARS AHEAD OF PLAN

STRATEGY 2025

2023

Net Sales Growth

Recurring EBIT Growth

Accelerate Growth in Solutions & Products

Cash Conversion

ROIC

Net Financial Debt to recurring EBITDA

3 - 5% organic p.a.

OVER PROPORTIONAL

TO NET SALES GROWTH ANNUALLY

30%

IN % OF GROUP NET SALES

45%

10%

BELOW 1.5x

+6.1% organic

+14.7% organic

21%
On track

58%

10.6%

1.2x

5

1. HOLCIM HIGHLIGHTS
2. LEADERSHIP

03.

04.

REMUNERATION CLIMATE REPORT

Striatus Bridge, 3D Printed with Tector, Venice, Italy

LEADERSHIP

UPDATES ON LEADERSHIP TRANSITION

• Jan Jenisch will conclude his CEO role, handing over responsibilities for Holcim's daily operations following the AGM 2024
• Miljan Gutovic will transition into his new role as CEO, starting from May 2024
• Jan Jenisch will continue to serve as Chairman of the Board, closely leading and driving the company's strategic projects
• Governance structures implemented in 2023, including Lead Independent Director (Hanne Sørensen) and Governance Committee, will remain in place
• New board members standing for election at the 2024 AGM:
• • Catrin Hinkel, brings a wealth of expertise in using technology to transform businesses and a deep understanding of digital innovation
  • Michael H. McGarry, brings extensive knowledge of the chemicals market, in particular the specialty materials market, and his broad global industrial work experience, to the Board of Directors of Holcim

7

LEADERSHIP

UPDATES ON LEADERSHIP TRANSITION

Proposed New Board Member

Catrin Hinkel
A German national born in 1969, Catrin Hinkel holds a Bachelor of Arts
from the European Partnership of Business Schools (ESB), Reutlingen
and London
Catrin Hinkel serves as CEO of Microsoft Switzerland since May 2021.
With more than 25 years' experience in the tech industry across a
variety of organizations and diverse cultures, Catrin Hinkel champions
technology as a solution to many challenges, from innovation to
sustainability
Prior to joining Microsoft, Catrin Hinkel held leadership roles at
Accenture, most recently as Senior Managing Director, Europe Cloud
First Strategy & Consulting Lead. Catrin Hinkel is recognized for her
commitment to digital innovation and has been named by Swiss BILANZ
magazine as one of Switzerland's Digital Shapers 2022 and by Forbes
DACH in its list of Women in Tech on C-Level
She is a member of the Executive Committee of Digital Switzerland, the
ASUT Industry Association Board and the Supervisory Board of the
CISPA Helmholtz Center for Information Security
Through her expertise in using technology to transform businesses and
her deep understanding of digital innovation, Catrin Hinkel contributes
valuable expertise to the Board of Directors of Holcim	CATRIN HINKEL

8

LEADERSHIP

UPDATES ON LEADERSHIP TRANSITION

Proposed New Board Member

Michael H. McGarry

A U.S. national born in 1958, Michael H. McGarry is a mechanical engineering graduate of the University of Texas and has completed the Advanced Management Program at Harvard Business School

Michael H. McGarry served as Executive Chairman of PPG Industries (PPG) from January 2023 to October 2023, and as Chairman and Chief Executive Officer from 2016 through 2022

From 1981 to 2004, Michael H. McGarry progressed through a variety of management positions at PPG, including Market Development Manager, silica products; Operations Manager, silicas; Business Manager, TESLIN® sheet; Product Manager in the derivatives, chlorine, liquid and dry caustic soda businesses; and General Manager, fine chemicals. He was appointed Vice President, chlor-alkali and derivatives in 2004; then Vice President, coatings, Europe, and managing director, PPG Europe in 2006; and Senior Vice President of the Commodity Chemicals reporting segment in 2008. In 2012, he was elected Executive Vice President and then Chief Operating Officer in 2014. Michael H. McGarry became President and Chief Operating Officer in March 2015, joined PPG's Board of Directors in July 2015 and was elected President and CEO in September 2015

His other mandates include serving as a member of the Board of Directors of United States Steel Corporation and of Shin-Etsu Chemical Co., Ltd., Tokyo, Japan

MICHAEL H. MCGARRY

9

BOARD COMPOSITION

COMMITTED TO RESPONSIBLE GOVERNANCE

Philippe Block

• Chairman of the Health, Safety &

Sustainability Committee

Kim Fausing	Ilias Läber
• Member of the Audit Committee	• Member of the Audit Committee
Jan Jenisch	• Member of the Nomination, Compensation
& Governance Committee
• Chairman and CEO 1
• Affiliated
• Non-Independent

Hanne Sørensen

• Vice-Chairwomanand Lead Independent Director of the Board of Directors
• Chairwoman of the Nomination, Compensation & Governance Committee

10 1 Chairman only, as of May 1st, 2024

Leanne Geale	Jürg Oleas
• Member of the Health, Safety &	•	Member of the Audit Committee
Sustainability Committee	•	Member of the Nomination, Compensation &
		Governance Committee

Naina Lal Kidwai	Claudia Sender Ramirez
•	Chairwoman of the Audit Committee	•	Member of the Health, Safety & Sustainability
•	Member of the Health, Safety &		Committees
	Sustainability Committee	•	Member of the Nomination, Compensation &
			Governance Committee

• Reduction from 11 to 9 Board members at AGM 2023
• 8 members independent in accordance with Swiss Code of Best Practice for Corporate Governance