CEO Fernando A. González has decided to retire after a successful career of over 35 years at Cemex
Jaime Muguiro, current President of Cemex USA, has been appointed as new CEO
Changes to become effective April 1, 2025

Cemex announced today that its CEO, Fernando A. González, has decided to retire after a successful career of over 35 years in the company. The Cemex Board of Directors has appointed Jaime Muguiro as new CEO; these changes will become effective April 1, 2025.

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Jaime Muguiro (Photo: Business Wire)

"I want to thank Fernando for his immense contributions to Cemex for the past 35 years," says Cemex Chairman of the Board of Directors, Rogelio Zambrano. "In over a decade as CEO, Fernando has led Cemex to great success, and he will leave us with a company that is an industry leader in sustainability, innovation, and digitalization to better serve our customers. Cemex has also regained its investment-grade ratings and is poised for continued growth. I am confident that Jaime is the right person to lead Cemex, and that his experience, vision, and expertise will serve the company well as we work to provide even more value for all our stakeholders."

"My career at Cemex, especially my time as CEO, has been the most rewarding part of my professional life; serving our customers, employees, and stockholders has been a privilege and an honor." says Fernando A. González. "I am grateful to Rogelio and the Board of Directors for their trust and support over the years, and I am very proud of the great work the Cemex team has done to keep this company at the forefront of the building materials industry. Having worked alongside Jaime for over two decades, I know his dedication, leadership, and business acumen will be key to an even better future for Cemex."

Jaime Muguiro joined Cemex in 1996 and has held several executive positions in the Strategic Planning, Business Development, Ready-Mix Concrete, Aggregates, and Human Resources areas. He has headed several regional operations for Cemex, including the Mediterranean, South, Central America and the Caribbean, and most recently serves as President of Cemex in the United States. He also served as CEO of Cemex Latam Holdings, which was a publicly listed company.

"I thank Rogelio and the Board of Directors for their trust, and Fernando for his guidance and leadership, both of great inspiration to me," says Jaime Muguiro. "I am looking forward to this challenge and to collaborating with our customers, employees, and stakeholders to continue building a better future and ushering in a new era of sustainable construction."

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

Except as the context otherwise may require, references in this press release to "Cemex," "we," "us," "our," refer to Cemex, S.A.B. de C.V. (NYSE:CX) and its consolidated subsidiaries. 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, unless otherwise indicated. 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 U.S. Securities and Exchange Commission and the Mexican Stock Exchange (Bolsa Mexicana de Valores), which factors are incorporated herein by reference, which if materialized could ultimately lead to Cemex's expectations and/or expected results not producing the expected benefits and/or results. Forward-looking statements should not be considered guarantees of future performance, nor the results or developments are indicative of results or developments in subsequent periods. These factors may be revised or supplemented, and the information contained in this press release is subject to change without notice, but Cemex is not under, and expressly disclaims, any obligation to update or correct this press release or revise any forward-looking statement contained herein, whether as a result of new information, future events or otherwise, or to reflect the occurrence of anticipated or unanticipated events or circumstances. 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. All references to prices in this press release refer to Cemex's prices for Cemex products and services. There is currently no single globally recognized or accepted, consistent, and comparable set of definitions or standards (legal, regulatory, or otherwise) of, nor widespread cross-market consensus i) as to what constitutes, a ‘green', ‘social,' or ‘sustainable' or having equivalent-labelled activity, product, or asset; or ii) as to what precise attributes are required for a particular activity, product, or asset to be defined as ‘green', ‘social,' or ‘sustainable' or such other equivalent label; or iii) as to climate and sustainable funding and financing activities and their classification and reporting. Therefore, there is little certainty, and no assurance or representation is given that such activities and/or reporting of those activities will meet any present or future expectations or requirements for describing or classifying funding and financing activities as ‘green', ‘social', or ‘sustainable' or attributing similar labels. We expect policies, regulatory requirements, standards, and definitions to be developed and continuously evolve over time.

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Analyst and Investor Relations - New York

Blake Haider

+1 (212) 317-6011

ir@cemex.com

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Patricio Treviño Garza

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ir@cemex.com

Media Relations

Jorge Pérez

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Cemex Announces CEO Transition