Holcim in a snapshot Diversification of financing Case ......• Issued the first Mexican Holcim bonds in the amount of MXN 4.0 bn in 2012 • The proceeds of the issuance were passed

© 2013 Holcim Ltd

Diversification of financingMarkus Unternährer, Head Capital Markets Bank Relationship

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© 2013 Holcim Ltd

Agenda

Holcim in a snapshotDiversification of financingCase study MXN bondsConclusions

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Product focus – two core segments and their channels

CementAggregates

Net sales CHF 21.5 billionCement Clinker

Product segments 2012 Net sales per segment 2012

217.5 million tonnesproduction capacity148 cement and grinding plantsSales: 148.0 milliontonnes

470 aggregatesplantsSales: 159.7 milliontonnes

1,286 RMX plants99 asphalt plantsSales of ready-mix concrete: 46.9 million m3

Sales of asphalt: 9.1 million tonnes

Aggregates

Other construction materials & services

10.4%

58.0%

31.6%

Op. EBITDA per segment 2012

Op. EBITDA CHF 4.0 billion

3.4%86.5%

10.1%

Other ConstructionMaterials and Services

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Holcim – well balanced global portfolio

Africa Middle EastEurope

Net sales per region 2012

14.7%26.1%

39.2%4.3%

15.7%

Europe

Sales volumes per region 2012

North America

Latin America

Africa Middle East

Asia Pacific (million t or m3) Net sales CHF 21.5 billion

Op. EBITDA per region 2012

Op. EBITDA CHF 4.0 billion

11.4% 14.9%

44.4%6.6%22.7%

• Cement 79.2• Aggregates 27.8• Ready-mix concrete 12.8





Asia PacificNorth AmericaLatin America

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Key financial figures – 9M 2013

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Million CHF Full Year 9M +/-(if not otherwise stated) 2012 2012 2013 LFL CIS FX Total

Net sales 21'160 15'908 14'941 -0.2% -3.2% -2.7% -6.1%

Operating EBITDA 3'889 3'077 2'951 1.0% -2.5% -2.6% -4.1%

Operating profit 1'749 1'829 1'798 4.0% -2.4% -3.3% -1.7%

Net income – shareholders of Holcim Ltd

610 779 1'040 33.5%

Cash flow 2'643 1'088 1'172 14.7% -4.3% -2.6% 7.8%

Net financial debt 10'325 11'525 10'280 -10.8%

Capex 1'593 848 1'282 51.2%

© 2013 Holcim Ltd

Cement production – a capital intensive business

Capital expansion investments (CHF m) Production capacity cement (mt)

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Financial debt, maturities and liquidity as of 30.9.2013

1 After risk-related adjustments of CHF 540 million from current financial liabilities to long-term financial liabilities

Maturity profile1 (CHF million)

Liquidity summary• Cash + marketable securities: CHF 3,115 million

• Cash + marketable securities + unused committed credit lines: CHF 7,795 million

Debt summary• Current financial liabilities1: CHF 3,368 million• Fixed to floating ratio: 54% fixed• Capital markets 81%; Loans 19% • Corporate vs. subsidiary debt: 81% Corporate• Average maturity financial liabilities: 4.5 years• CP borrowings: CHF 490 million• No financial covenants in Corporate credit lines

ST/LT ratings summary November 4, 2013• S&P Credit Rating: A-2 / BBB, outlook stable• Fitch Credit Rating: F2 / BBB, outlook stable• Moody’s Credit Rating: P2 / Baa2, outlook stable

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0

1'000

2'000

3'000

4'000

5'000

<1y 1-2y 2-3y 3-4y 4-5y 5-6y 6-7y 7-8y 8-9y 9-10y >10y

Loans Capital markets

© 2013 Holcim Ltd

Continuously accessing capital and loan markets around the world to cover funding requirements

CHF 450 m bond

CHF 950 m multicurrency loans

AUD 700 m bonds

AUD 200 m bilateral loans

BRL 1 bncapex

financing

MXN 4 bn bonds

USD 1 bn CP program

CAD 250 m RCF

EUR 500 m bond

CAD 300 m bond

USD 235 m RCFNZD 150 m

bilateral loansTHB 1.5 bnbilateral loan

CHF 350 m RCF

USD 50 m bond

AUD 320 m club deal

USD 750 m bonds

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Recent financings

© 2013 Holcim Ltd

Overall debt reduced by CHF 5.3 billion since 2008 – bank debt replaced by capital market financing

Loans

Capital marketsShare of capital market financing (r.h. scale)

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0%

20%

40%

60%

80%

100%

0

4'000

8'000

12'000

16'000

20'000

2008 2009 2010 2011 2012 Q3 2013

Financial liabilitiesCHF million

Share of capital market financing

© 2013 Holcim Ltd

CDS Share price

EUR (SSD)

CHF 400 m

EUR

EURGBP

CHFEUR

AUD

CHF

USD

CHF

THB CHFEUR 2 bn

AUDMXN

CHF

MXN

AUDEUR

AUDCAD

CHF 350 m

USDUSD

CHF 2.1 bn

0 CHF

20 CHF

40 CHF

60 CHF

80 CHF

100 CHF

120 CHF

Jan-08 May-09 Sep-10 Feb-12 Jun-130 bps

100 bps

200 bps

300 bps

400 bps

500 bps

600 bps

700 bps

800 bps

900 bps

1'000 bpsCapital market financing

Syndicated loan financingEquity financing

Strong diversification allows continuous access to capital and bank markets

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© 2013 Holcim Ltd

Financing programs complement other financings and provide flexibility and quick access to capital markets

EMTN program

MXN bond program

AUD bondprogram

U.S. CPprogram

EUR CPprogram

Capital markets funding distribution

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Capital markets funding distribution

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Case study: MXN bond program• Set up a MXN 10 bn shelf program in Mexico to issue bonds guaranteed by Holcim Ltd

• Issued the first Mexican Holcim bonds in the amount of MXN 4.0 bn in 2012

• The proceeds of the issuance were passed on to Holcim México – our subsidiary in Mexico – as an intercompany loan

What we did

• In-depth analysis of the peculiarities and requirements of the Mexican debt capital market over a long period of time

• A joint project team with dedicated people from the head office and the Mexican subsidiary was put together

• Close collaboration with local banks and lawyers

• Focused roadshow in Mexico City and investor calls

• Holcim can issue up to MXN 10 bn in local bonds which provides us with an alternative funding source for our Mexican operations

• Short term bank debt was replaced with long term debt which lengthens the average maturity

• Financing costs were substantially reduced

How we did it

Results we achieved

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• Sole issuer: Holcim Capital México, S.A. de C.V.• Structure: Established in 2011

Program size MXN 10 bnShort-term and long-term notesListed in MexicoS&P and Fitch ratings (mxAAA, AAA mex)3 outstanding bonds

• Arrangers: BBVA, Citi, Santander• Dealers: “Dealers of the day” to be appointed for specific transactions• Drawdowns 30.3.2012: MXN 1’500 m 2012-2015 @ TIIE 28d + 57 bps

15.6.2012: MXN 800 m 2012-2016 @ TIIE 28d + 67 bps15.6.2012: MXN 1’700 m 2012-2019 @ 7.0%

• Benefits: Funding program to issue notes on a regular basisLong tenorsDiversification of investor baseFlexibleTypically lower financing costs than in local bank market

Holcim Mexican Peso bond program and drawdowns

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Financing structure

Holcim Ltd

Holcim Capital México, S.A. de

C.V.

CertificadosBursatiles Intercompany loans

Note: simplified structure

Holcim México

• Financing structure ensuresSame international rating for MXN bonds as for Holcim LtdLimited disclosure requirement for operating company Holcim MéxicoMinimum structural subordination of 70%

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• Language – all legal documentation had to be in Spanish. Tackled by project team familiar with the language and by translating main documents

• Transaction had to be postponed due to unfavorable capital market conditions in the beginning

• Mexican authorities sometimes unpredictable in their requests for additional documentation

• Transaction windows quite short due to regulatory approval process and closed periods

MXN bond program – main difficulties

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• Broad diversification of financing allowsTo optimize the currency mix of the balance sheet and cash flows (natural hedge)To tap the most favorable capital marketsTo access markets opportunisticallyTo lower financing costsTo broaden investor baseTo reduce counterparty risks (large investor base, no swaps)To reduce the risk that comes along with higher market volatility

• The MXN bond program allows us to finance our Mexican Peso needs in the local market at low costs

• Strong relationships to banks, investors and rating agencies are key in all markets

Conclusions

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Contact information and event calendar

Contact information

Corporate Finance & TreasuryPhone +41 58 858 87 [email protected]/bondholders

Investor RelationsPhone +41 58 858 87 87Fax +41 58 858 80 [email protected]/investors

Mailing list:www.holcim.com/subscribe

Event calendar

February 26, 2014 Press and analyst conference on annual results for 2013

April 29, 2014 General meeting of shareholders

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Cautionary statement regarding forward-looking statementsThis presentation may contain certain forward-looking statements relating to the Group’s future business, development and economic performance. Such statements may be subject to a number of risks, uncertainties and other important factors, such as but not limited to (1) competitive pressures; (2) legislative and regulatory developments; (3) global, macroeconomic and political trends; (4) fluctuations in currency exchange rates and general financial market conditions; (5) delay or inability in obtaining approvals from authorities; (6) technical developments; (7) litigation; (8) adverse publicity and news coverage, which could cause actual development and results to differ materially from the statements made in this presentation. Holcim assumes no obligation to update or alter forward-looking statements whether as a result of new information, future events or otherwise.

Disclaimer

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Documents

Holcim in a snapshot Diversification of financing Case ......• Issued the first Mexican Holcim bonds in the amount of MXN 4.0 bn in 2012 • The proceeds of the issuance were passed