Cemex will divest its operations in Costa Rica and El Salvador

Press release by Cemex

This is a machine translation of the original press release issued in Spanish

MONTERREY MEXICO. DECEMBER 29, 2021.– CEMEX, SAB de CV (“CEMEX”) (BMV: CEMEXCPO) reported today that it has signed an agreement for the sale of its operations in Costa Rica and El Salvador with Cementos Progreso Holdings, SL, through of its subsidiaries, for a total amount of approximately US$ 335 million. This transaction further advances the objective of CEMEX's strategic plan, Operation Resilience, to optimize its global portfolio.

The assets being sold consist of 1 fully integrated cement plant, 1 grinding station, 7 concrete plants, 1 aggregates quarry and a distribution center in Costa Rica, as well as a distribution center in El Salvador.

"This transaction allows us to advance our portfolio rebalancing objectives, freeing up resources to finance our growth investments and continue reducing our financial leverage," said Fernando González Olivieri, CEO of CEMEX.

Subject to compliance with closing conditions in Costa Rica and El Salvador, including approvals from competition authorities, CEMEX currently anticipates finalizing this transaction during the first half of 2022.

It is anticipated that the resources obtained from this divestment will be used to finance the company's growth strategy through complementary investments in its main markets, reduce debt and other corporate purposes.