InterCement Presentation September 2014 Disclaimer The - PowerPoint PPT Presentation

InterCement Presentation September 2014

Disclaimer The accompanying material was compiled or prepared by InterCement on a confidential basis and not with a view toward public disclosure under any securities laws or otherwise. This material has been prepared by InterCement and it is based on financial, managerial and certain operational information and certain forward-looking statements. The information contained herein has been prepared or compiled by InterCement, obtained from public sources, or based upon estimates and projections, involving certain material subjective determinations, and relies on current expectations and projections of InterCement about future events and trends that may affect its business units, operations, and financial condition, cash flows and prospects and there is no assurance that such estimates and projections will be realized. InterCement does not take responsibility or liability for such estimates or projections, or the basis on which they were prepared. No representation or warranty, express or implied, is made as to the accuracy, completeness or reliability of the information in the accompanying material and nothing contained herein is, or shall be relied upon as, a representation, whether as to the past, the present or the future. In preparing the accompanying material, InterCement assumed and relied, without independent verification, upon the accuracy and completeness of all public available financial and other information and data. The accompanying material is strictly confidential, and may not, in whole or in part, be disclosed, reproduced, disseminated or quoted at any time or in any manner to others without InterCement’s prior written consent, nor shall any references to InterCement or any of its subsidiaries be made publicly without InterCement’s prior written consent. The information contained herein does not apply to, and should not be relied upon by, potential investors. Likewise, it is not to be treated as investment advice. The accompanying material is necessarily based upon information available to InterCement, and financial, and other conditions and circumstances existing and disclosed to InterCement, as of the date of the accompanying material. The information provided herein is not all-inclusive and is subject to modifications, revisions and updates. However, InterCement does not have any obligation to update or otherwise revise the accompany materials. Nothing contained herein shall be construed as legal, tax or accounting advice. 2

InterCement Team Claudio Palaia – InterCement CFO  Bachelor's degree in Business Administration (FGV) / MBA (The Wharton School of the University of Pennsylvania )  Worked at different companies in the Camargo Corrêa Group since 2000 and in InterCement since 2005. Before becoming CFO of the Company, Mr. Palaia had been responsible for the concrete unit of Loma Negra from 2005 until 2008 and for the concrete unit in Brazil from 2008 until 2011. Currently, he is a board member of Alpargatas and CPFL Energia Filipa Mendes Marcelo Arantes InterCement IR and External Communication Director InterCement Corporate Finance Director  Degree in Business Administration (Universidade Católica - Lisboa)  Bachelor's degree in Business Administration (FGV)  KPMG Senior at Banking and Insurance Department (1993-1996). Joint Cimpor  Worked at the finance department of Camargo Correa Group since 2005 and is – Cimentos de Portugal, SGPS, S.A. in 1996 for Investor Relations and further in InterCement since 2011. Prior to joining Camargo Corrêa Mr. Arantes has on to Strategic Development Department. Presently, Mrs. Mendes is worked at BNP Paribas Asset Management, Banco Safra and Sadia. Currently, InterCement Participações, S.A. Head of External Communication, Cimpor – he works as Corporate Finance Director in InterCement. Cimentos de Portugal, SGPS, S.A. Company Secretary and Investor Relations Officer. 3

Recent Senior Notes issuance Issuer Cimpor Financial Operations BV Guarantors InterCement Brasil S.A. and InterCement Participações S.A. Offering Structure US$ Senior Unsecured Notes under Rules 144A / Reg S Offering Size USD 750M Maturity 10 years Coupon Payment 5,75% (Semi-annually, 30/360 basis) Expected Ratings BB / BB (S&P / Fitch) Use of Proceeds Refinance existing indebtedness and for general corporate purposes Issue Denominations U.S.$200,000 and integral multiples of U.S.$1,000 in excess thereof Listing / Governing Law Singapore Exchange / New York Law Global Coordinators and Joint Bookrunners 4

Corporate Structure Simplified Corporate Structure Participações S.A. Austria Holding GmbH Cimpor Financial Operations BV International Operations InterCement Brasil Legend Argentina Paraguay Issuer Guarantors 5

01 A Leading Player with Strong Sponsorship from one of Brazil’s Largest Conglomerates 02 Top 8 International Player with Superior Profitability 01. A Leading Player with Strong 03 Diversified Presence with Leading Position 04 Constant Focus on Efficiency and Disciplined Sponsorship from one of Business Strategy 05 Strong Financial Performance Brazil’s Largest Conglomerates 06 A view over H1’14 6

InterCement at a Glance InterCement is a private company, owned by Camargo Corrêa, and a leading player in the cement market in all of the countries where it is present. Overview Main Figures Extensive geographic footprint: 3 Continents, 9 countries (1) Jun-2014 LTM In € mm Strong market presence in Brazil, Argentina, Paraguay, Volume (in ton) 30,7 mm (2) Portugal, Egypt, Mozambique, South Africa and Cape Verde 40 Cement Facilities: 22 Integrated, 17 Grinding Mills, 1 € 2,568 Net Revenue Blending Facility € 685 EBITDA Superior EBITDA Margin EBITDA Margin 26.7% Sponsorship from Camargo Corrêa Global Footprint Brazil Egypt Portugal Paraguay Cape Verde Argentina South Africa Mozambique (1) Includes a greenfield project. 7 (2) Total volume in FY 2013.

Camargo Corrêa: 80 Years of Successful History Founded in 1939, Camargo Corrêa is one of the largest privately owned conglomerates in Brazil, comprised of a diversified portfolio of high quality assets. FY2013 Figures € 9.0 billion Net Revenue: € 1.5 billion EBITDA: 90% 100% 100% 17% 24.3% 44% (1) Engineering and Real Estate Apparel Shipbuilding Divestitures Cement Infrastructure Energy Concession Construction and Footwear Development Stake: 37.5% Value: € 1,251 mm Year: 2010 2013 2013 2013 2013 EBITDA: € 1,135mm EBITDA: € 1,200mm EBITDA: € 147mm EBITDA: € 742mm Stake: 29.8% Mkt Cap (2) : € 9.6bn Mkt Cap (2) : € 5.6bn Mkt Cap (2) : € 1.9bn Value: € 260 mm Year: 2011 Stake: 70.0% Value: € 92 mm Year: 2010  Among the 8 largest international Residential, Largest private EAS is the most Value: € 950 mm cement Largest private Largest apparel/ 3rd largest E&C commercial and infra group modern shipyard in Year: 2011 companies electric utility in footwear company company in Brazil low-income real operating in Latin the Southern  2nd largest Brazil from Latin America estate developer America Hemisphere cement company in Brazil Wholly owned / controlled subsidiaries (1) Source: Company 8 (2) Source: Bloomberg as of June 24, 2014

01 A Leading Player with Strong Sponsorship from one of Brazil’s Largest Conglomerates 02 Top 8 International Player with Superior Profitability 02. Top 8 International Player with 03 Diversified Presence with Leading Position 04 Constant Focus on Efficiency and Disciplined Superior Profitability Business Strategy 05 Strong Financial Performance 06 A view over H1’14 9

InterCement: 45+ Years of Growth InterCement is a large company with robust M&A experience and superior growth rates. Phase I – Greenfield projects (Brazil) 1968 Phase II – M&A (cement and concrete) 1997 Net Revenue Evolution (R$ mm) (2) Phase III – Internationalization 2005 Acquisiton of 4.4% of Estreito hydroelectrical plant Creation of Yguazú 2013 Cementos (Paraguay) 8.469 2013 Acquisition of 2012 Cimento Brasil 2011 2.884 2011 Acquisition of Cimento Cauê with Merged Cimpor capacity of 1.2 mm 2010 2009 2.362 Brasil into tons InterCement Brasil 2008 2007 1.598 2005 Launch of the second line at Apiaí, increasing capacity to 2003 Paraguay grinding Acquisition of 33% of 1.3 mm tons facility 2005 923 Cimpor Dondo grinding facility 2000 1997 CAGR ’97 – ’13 2003 680 Cubatão grinding 28.7% Founding of 1996 Entry into the facility Camargo Corrêa Argentine market Industrial through the acquisition 1991 2001 503 of Loma Negra with Participation in Cimpor capacity of 7.0 mm increased to 94.1% (1) tons 1974 Opening of the (share acquisition Bodoquena plant with followed by an Asset 1999 302 capacity of 0.8mm Swap) 1968 tons Start of the Ijaci plant Start of the first M&A Activity with capacity of manufacturing plant in 1997 150 1.9mm tons Apiaí with capacity of 0.8 Organic growth activity mm tons Source: Company’s filings 10 (1) Includes Camargo Corrêa Cimentos Luxembourg S.a.r.l (in which we do not own any ownership interests) stake of 28.2% Net Revenue converted at a rate of R$3.226 per € 1.000 as of December 31, 2013 (2)