Press Releases

February 8, 2023

CEMEX, S.A.B. de C.V. (“CEMEX”) announced today that all its Accounts Receivable Securitization Programs are now linked to CEMEX’s Sustainability-linked Financing Framework, which is aligned to the company’s ambitious sustainability goals within its Future in Action program.

The framework references three climate action KPIs: net CO₂ emissions per ton of cementitious material; power consumption from clean energy sources in cement; and alternative fuels rate. The annual performance in these metrics may result in an adjustment of the interest rate margin paid under the programs. The programs amount to approximately US$750 million and are used by CEMEX’s operations in Mexico, the U.S., the U.K., and France.

“The integration of these programs into our sustainability-linked framework further aligns our financing strategy to our leadership in addressing climate change. With the integration of these programs, we now have approximately 42% of our debt linked to sustainability metrics, bringing us closer to our goal of 50% by 2025 and 85% by 2030,” said Maher Al-Haffar, CEMEX’s CFO.

The financial institutions under the Accounts Receivable Securitization Programs are Credit Agricole Corporate and Investment Bank, for the U.S. and Mexico programs, Societe Generale Corporate and Investment Bank for the U.S. program, and ING Belgium SA/NV (“ING”), for the U.K. and France programs. Additionally, Credit Agricole Corporate and Investment Bank acted as Sustainability Structuring Agent for the programs in the U.S. and Mexico, and ING as Sustainability Coordinator for the programs in U.K. and France.

In 2021, CEMEX launched its Sustainability-linked Financing Framework, which besides being one of the most comprehensive in the building materials sector, further aligns CEMEX’s corporate sustainability commitments to its financing strategy. The framework establishes CEMEX’s guiding principles when issuing new sustainability-linked financing instruments, including bonds, private placements, loans, derivatives, working capital solutions, and other financing instruments.

CEMEX’s Future in Action program focuses on achieving sustainable excellence through climate action, circularity, and natural resource management with the primary objective of becoming a net-zero CO₂ company. CEMEX is among the first companies in the building materials industry to achieve validation by the Science Based Targets Initiative (“SBTi”) of its Scope 1, 2 & 3 2030 targets aligned to the 1.5^ºC Scenario and its 2050 net-zero CO₂ emissions goal.

CEMEX (NYSE: CX) 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 use 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

This press release contains forward-looking statements within the meaning of the U.S. federal securities laws. CEMEX intends these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements in the U.S. federal securities laws. These forward-looking statements reflect CEMEX’s current expectations and projections about future events based on CEMEX’s knowledge of present facts and circumstances and assumptions about future events, as well as CEMEX’s current plans based on such facts and circumstances. These statements necessarily involve risks, uncertainties, and assumptions that could cause actual results to differ materially from CEMEX’s expectations, including, among others, risks, uncertainties, and assumptions discussed in CEMEX's most recent annual report and detailed from time to time in CEMEX’s other filings with the Securities and Exchange Commission, which factors are incorporated herein by reference, which if materialized could ultimately lead to CEMEX, including the programs referred herein, not producing the expected results. These factors may be revised or supplemented, but CEMEX is not under, and expressly disclaims, any obligation to update or correct this press release or any forward-looking statement contained herein, whether as a result of new information, future events or otherwise. Any or all of CEMEX’s forward-looking statements may turn out to be inaccurate. Accordingly, undue reliance on forward-looking statements should not be placed, as such forward-looking statements speak only as of the dates on which they are made. The content of this press release is for informational purposes only, and you should not construe any such information or other material as legal, tax, investment, financial, or other advice.