Fitch Ratings Upgrades Cemex to Investment Grade

Monterrey, Mexico. April 30, 2024 – Cemex announced today that it has reached full investment grade status after being upgraded to BBB- by rating agency Fitch Ratings. This follows S&P Global Ratings’ upgrade announced in March 2024.

“Achieving investment grade is a milestone for Cemex,” said Fernando A. González, CEO of Cemex. “This rating is confirmation of both our strategy and our execution against it. By optimizing our cost of capital, it also serves as the foundation for increased financial flexibility going forward to address our capital allocation priorities of growth investments in key markets and shareholder return.”

Cemex’s strategic focus on its key markets was advanced further last week by the announcement of the agreement to divest its operations and assets in the Philippines. Also, Cemex also recently announced the closing of a €750 million bank refinancing as part of its comprehensive financing plan designed to increase liquidity and flexibility.

About Cemex

Cemex is a global construction materials company that is building a better future through sustainable products and solutions. Cemex is committed to achieving carbon neutrality through relentless innovation and industry-leading research and development. Cemex is at the forefront of the circular economy in the construction value chain and is pioneering ways to increase the use of waste and residues as alternative raw materials and fuels in its operations with the help of new technologies. Cemex offers cement, ready-mix concrete, aggregates, and urbanization solutions in growing markets around the world, powered by a multinational workforce focused on providing a superior customer experience enabled by digital technologies. For more information, please visit: www.cemex.com