UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 or 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of February, 2020

Commission File Number: 001-14946

CEMEX, S.A.B. de C.V.

(Translation of Registrant’s name into English)

Avenida Ricardo Margáin Zozaya #325, Colonia Valle del Campestre,

San Pedro Garza García, Nuevo León 66265, México

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F  ☒                Form 40-F   ☐

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):                 

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):                 

Contents

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, CEMEX, S.A.B. de C.V. has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

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EXHIBIT INDEX

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Exhibit 1

CLH’S FREE CASH FLOW IMPROVED BY 68%

AND NET DEBT WAS REDUCED BY 11%, DURING 2019

BOGOTA, COLOMBIA. FEBRUARY 12, 2020 – CEMEX Latam Holdings, S.A. (“CLH”) (BVC: CLH), announced today that its consolidated net sales reached US$237 million during the fourth quarter of 2019, a decline of 9% in U.S.-dollar terms or of 6% in local-currency terms, compared to those of the same period of 2018. Operating EBITDA reached US$53 million during the fourth quarter, a decline of 6% in U.S.-dollar terms or of 5% in local-currency terms, on a year-over-year basis.

During the fourth quarter of 2019, consolidated domestic gray cement, ready-mix and aggregates volumes declined by 3%, 13% and 10%, respectively, compared to those of the fourth quarter of 2018. Consolidated prices in local-currency terms for domestic gray cement and aggregates both increased by 1%, while for ready-mix decreased by 4%, during the quarter on a year over year basis.

Jesus Gonzalez, CEO of CLH, said, “We are pleased with our results in Colombia, where our sales and EBITDA increased by 7% and 3%, respectively, during 2019 in local-currency terms. Nevertheless, our consolidated results during this period were impacted by the depreciation of the Colombian peso against the U.S. dollar, and the much weaker markets in Panama, Costa Rica and Nicaragua. To respond to this challenge—and as part of our A Stronger CEMEX plan in 2019—we achieved recurring savings of US$20 million and dedicated our free cash flow to reduce financial debt”.    

Jesus Gonzalez added, “During 2019 our free cash flow improved by 68%, reaching US$93 million dollars and reducing our debt by US$92 million dollars, or by 11%. Additionally, during December we refinanced the loans which matured in 2020. Now, our debt-maturity profile is more manageable, and we do not have material debt maturities until December 2022”

Consolidated Corporate Results

During the fourth quarter, controlling interest net income was a loss of US$3 million, compared to a gain of US$9 million during the same quarter of 2018.

Geographical Markets Fourth Quarter 2019 Highlights

Operating EBITDA in Colombia reached US$32 million, 38% higher in U.S.-dollar terms or 41% higher in local-currency terms, compared to that of the fourth quarter of 2018. Net sales on a year-over-year basis increased by 2% in U.S.-dollar terms or increased by 7% in local-currency terms, to US$128 million, during the quarter.

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In Panama, operating EBITDA declined by 23% to US$10 million during the quarter. Net sales reached US$38 million during the fourth quarter of 2019; a 27% decline compared to those of the same period of 2018.

In Costa Rica, operating EBITDA reached US$7 million during the quarter, 22% lower in U.S.-dollar terms or 27% lower in local-currency terms, on a year-over-year basis. Net sales reached US$22 million, a decline of 20% in U.S.-dollar terms or of 24% in local-currency terms, compared to those of the fourth quarter of 2018.

In the Rest of CLH operating EBITDA declined by 25% in U.S.-dollar terms or by 23% in local-currency terms, to US$14 million during the quarter. Quarterly net sales reached US$52 million, 11% lower in U.S.-dollar terms or 9% lower in local-currency terms, compared to those of the same period of 2018.

In accordance with its vision, CLH will continue constantly evolving to become more flexible in our operations, more creative in our commercial offerings, more sustainable in our use of resources, more innovative in conducting our business, and more efficient in our capital allocation. CLH is a regional leader in the building solutions industry that provides high-quality products and reliable services to customers and communities in Colombia, Panama, Costa Rica, Nicaragua, El Salvador, and Guatemala.

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This press release contains forward-looking statements and information that are necessarily subject to risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements of CLH to be materially different from those expressed or implied in this release, including, among others, changes in general economic, political, governmental and business conditions globally and in the countries in which CLH does business, changes in interest rates, changes in inflation rates, changes in exchange rates, the level of construction generally, changes in cement demand and prices, changes in raw material and energy prices, changes in business strategy, changes derived from events affecting CEMEX, S.A.B de C.V. and subsidiaries (“CEMEX”) and various other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein. CLH assumes no obligation to update or correct the information contained in this press release.

Operating EBITDA is defined as operating earnings before other expenses, net plus depreciation and operating amortization. Free Cash Flow is defined as operating EBITDA minus net interest expense, maintenance and expansion capital expenditures, change in working capital, taxes paid, and other cash items (net other expenses less proceeds from the disposal of obsolete and/or substantially depleted operating fixed assets that are no longer in operation). All of the above items are prepared under International Financial Reporting Standards as issued by the International Accounting Standards Board. Operating EBITDA and Free Cash Flow (as defined above) are presented herein because CLH believes that they are widely accepted as financial indicators of CLH’s ability to internally fund capital expenditures and service or incur debt. Operating EBITDA and Free Cash Flow should not be considered as indicators of CLH’s financial performance, as alternatives to cash flow, as measures of liquidity or as being comparable to other similarly titled measures of other companies.

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Exhibit 2

2019 FOURTH QUARTER RESULTS    Stock Listing Information Colombian Stock Exchange S.A. Ticker: CLH Investor Relations Pablo Gutiérrez +57 (1) 603-9051 E-mail: pabloantonio.gutierrez@cemex.com

OPERATING AND FINANCIAL HIGHLIGHTS January - December Fourth Quarter l-t-l l-t-l 2019 2018 % var % var 2019 2018 % var % var Consolidated cement volume 6,454 6,649 (3%) 1,562 1,679 (7%) Consolidated domestic gray cement volume 5,840 5,855 (0%) 1,448 1,489 (3%) Consolidated ready-mix volume 2,401 2,604 (8%) 570 659 (13%) Consolidated aggregates volume 5,705 6,265 (9%) 1,329 1,471 (10%) Net sales 989 1,108 (11%) (5%) 237 260 (9%) (6%) Gross profit 383 460 (17%) (12%) 92 113 (18%) (16%)                as % of net sales 38.7% 41.5% (2.8pp) 39.0% 43.3% (4.3pp) Operating earnings before other expenses, net 116 170 (32%) (27%) 29 39 (27%) (25%)                as % of net sales 11.7% 15.3% (3.6pp) 12.1% 15.1% (3.0pp) Controlling interest net income (loss) 4 62 (93%) -3 9 N/A Operating EBITDA 199 249 (20%) (15%) 53 56 (6%) (5%)                as % of net sales 20.1% 22.4% (2.3pp) 22.3% 21.6% 0.7pp Free cash flow after maintenance capital expenditures 96 56 71% 45 20 130% Free cash flow 93 55 68% 44 19 129% Net debt 736 828 (11%) 736 828 (11%) Total debt 758 865 (12%) 758 865 (12%) Earnings of continuing operations per share                0.01                0.13 (94%)                (0.01)                0.02 N/A Shares outstanding at end of period 557 557 0% 557 557 0% Employees 4,260 4,067 5% 4,260 4,067 5% Cement and aggregates volumes in thousands of metric tons. Ready-mix volumes in thousands of cubic meters. In millions of US dollars, except volumes, percentages, employees, and per-share amounts. Shares outstanding are presented in millions.    Consolidated net sales during the fourth quarter of 2019 declined by to that of the fourth quarter of 2018. The decline is mainly due to 9% in U.S.-dollar terms, or by 6% in local-currency terms, compared to lower volumes and increased variable costs, partially offset by those of the fourth quarter of 2018. Improved sales in Colombia and El increased prices and SG&A savings related to our Stronger CEMEX plan. Salvador were more than offset by decreases in the rest of our Operating EBITDA margin during the fourth quarter of 2019 increased countries, in local-currency terms. by 0.7pp, compared to that of the fourth quarter of 2018, supported Cost of sales as a percentage of net sales during the fourth quarter by SG&A savings. increased by 4.3pp from 56.7% to 61.0%, on a year-over-year basis.    Controlling interest net income during the fourth quarter was negative Operating expenses as a percentage of net sales during the quarter US$3 million, compared to positive US$9 million during the same decreased by 1.3pp from 28.3% to 27.0%, compared to those of 2018. quarter of 2018.    Operating EBITDA during the fourth quarter of 2019 declined in U.S.- Total debt declined by US$29 million during the quarter, from US$765 dollar and local-currency terms by 6% and 5%, respectively, compared million in September to US$736 million in December. 2019 Fourth Quarter Results                Page 2

OPERATING RESULTS Colombia January - December Fourth Quarter l-t-l l-t-l 2019 2018 % var % var 2019 2018 % var % var Net sales 504 524 (4%) 7% 128 125 2% 7% Operating EBITDA 91 97 (6%) 3% 32 23 38% 41% Operating EBITDA margin 18.0% 18.5% (0.5pp) 24.9% 18.4% 6.5pp In millions of US dollars, except percentages. Domestic gray cement Ready-Mix Aggregates January - January - January - December Fourth Quarter December Fourth Quarter December Fourth Quarter Volume 9% 4% 5% 0% 1% (1%) Price (USD) (5%) 5% (10%) (4%) (6%) (1%) Price (local currency) 5% 10% 0% 1% 4% 4% Year-over-year percentage variation. In Colombia, during the fourth quarter our domestic gray cement volume increased by 4%, while our ready-mix volume remained flat and our aggregates volume decreased by 1%, compared to those of the fourth quarter of 2018. For the full year 2019, our domestic gray cement, ready-mix and aggregates volumes increased by 9%, 5%, and 1%, respectively, on a year-over-year basis. We are pleased with the national cement demand in Colombia, which turned back to positive during 2019 after 3 years of declines, driven by increased activity in the infrastructure and the self-construction sectors. Our cement prices during the quarter increased by 3% sequentially and by 10% year-over-year, in local-currency terms. Our cement prices from December 2018 to December 2019 increased by 11%, in local-currency terms.    Panama January - December Fourth Quarter l-t-l l-t-l 2019 2018 % var % var 2019 2018 % var % var Net sales 181 222 (18%) (18%) 38 53 (27%) (27%) Operating EBITDA 49 66 (26%) (26%) 10 13 (23%) (23%) Operating EBITDA margin 26.8% 29.6% (2.8pp) 27.1% 25.6% 1.5pp In millions of US dollars, except percentages. Domestic gray cement Ready-Mix Aggregates January - January - January - December Fourth Quarter December Fourth Quarter December Fourth Quarter Volume (15%) (20%) (28%) (35%) (29%) (21%) Price (USD) (6%) (9%) (3%) (8%) (8%) (16%) Price (local currency) (6%) (9%) (3%) (8%) (8%) (16%) Year-over-year percentage variation. In Panama during the fourth quarter our domestic gray cement, ready-mix and aggregates volumes decreased by 20%, 35%, and 21%, respectively, compared to those of the fourth quarter of 2018. For 2019, our domestic gray cement, ready-mix and aggregates volumes declined by 15%, 28%, and 29%, respectively, on a year-over-year basis. Cement demand was weak during 2019. We estimate that national cement demand declined by 20% during the quarter and by 12% during the full year. Cement demand remained affected by high inventories in apartments and offices, as well as by the deceleration of the economy. In the infrastructure sector, cement consumption from the “Corredor de las playas” project was slower than expected, and the Fourth Bridge over the Canal had redesigns that delayed its construction start.    Projects such as the new windfarm, the Northern Corridor highway, and the “Via Transístmica”, did provide volume support during the quarter.    2019 Fourth Quarter Results                Page 3

OPERATING RESULTS Costa Rica January - December Fourth Quarter l-t-l l-t-l 2019 2018 % var % var 2019 2018 % var % var Net sales 102 139 (27%) (26%) 22 27 (20%) (24%) Operating EBITDA 30 45 (33%) (32%) 7 9 (22%) (27%) Operating EBITDA margin 29.8% 32.7% (2.9pp) 30.5% 31.5% (1.0pp) In millions of US dollars, except percentages. Domestic gray cement Ready-Mix Aggregates January - January - January - December Fourth Quarter December Fourth Quarter December Fourth Quarter Volume (21%) (13%) (30%) (44%) (13%) (38%) Price (USD) (4%) (2%) (0%) (2%) (10%) (9%) Price (local currency) (3%) (7%) 2% (7%) (9%) (14%) Year-over-year percentage variation. In Costa Rica, during the fourth quarter our domestic gray cement, ready-mix and aggregates volumes decreased by 13%, 44%, and 38%, respectively, compared to those of the fourth quarter of 2018. For the full year 2019, our domestic gray cement, ready-mix and aggregates volumes declined by 21%, 30% and 13%, respectively, on a year-over-year basis.    Cement demand was weak during 2019. We estimate that national cement demand declined by 14% and 12% during the fourth quarter and full year, respectively. Cement demand was affected by the uncertainty related to the implementation of the fiscal reform, as well as by the slow execution of infrastructure projects. Our full year performance reflects a high base of comparison in 2018, as the new competitor commissioned its cement-grinding mill in July of 2018 and ramped-up volumes gradually. Rest of CLH January - December Fourth Quarter l-t-l l-t-l 2019 2018 % var % var 2019 2018 % var % var Net sales 217 239 (9%) (6%) 52 59 (11%) (9%) Operating EBITDA 60 77 (21%) (19%) 14 18 (25%) (23%) Operating EBITDA margin 27.9% 32.2% (4.3pp) 26.6% 31.5% (4.9pp) In millions of US dollars, except percentages. Domestic gray cement Ready-Mix Aggregates January - January - January - December Fourth Quarter December Fourth Quarter December Fourth Quarter Volume (6%) (8%) (46%) (55%) (27%) 39% Price (USD) (2%) (3%) 4% 6% 13% 3% Price (local currency) 1% (1%) 6% 7% 19% 8% Year-over-year percentage variation. In the Rest of CLH region, which includes our operations in Nicaragua, Guatemala and El Salvador, our quarterly domestic gray cement and ready-mix volumes decreased by 8% and 55%, respectively, while our aggregates volumes increased by 39%, compared to those of the fourth quarter of 2018. For 2019, our domestic gray cement, ready-mix and aggregates volumes declined by 6%, 46%, and 27%, respectively, on a year-over-year basis.    In Nicaragua, national cement demand was weak during 2019 impacted by the socio-political crisis. Our cement volumes during the quarter and the full year declined by 20% and 16%, respectively, in line with the industry. However, our quarterly cement volumes improved by 6% sequentially, due to the reactivation of some highway projects and a hospital.    In Guatemala, national cement demand improved in the mid-single digits during 2019, supported by vertical housing and industrial projects in Guatemala City. Our cement volumes remained flat during 2019 and declined by 3% during the quarter. During 2019, our cement volume underperformed the market due to a lower-market participation from our ready-mix business, as we focused on the most-profitable projects, and to increased imports.    2019 Fourth Quarter Results                Page 4

OPERATING EBITDA, FREE CASH FLOW AND DEBT RELATED INFORMATION Operating EBITDA and free cash flow January - December Fourth Quarter 2019 2018 % var 2019 2018 % var Operating earnings before other expenses, net 116                 170 (32%) 29                39 (27%) + Depreciation and operating amortization 83                79 24                17 Operating EBITDA 199                 249 (20%) 53                56 (6%) - Net financial expense 52                61 12                16 - Capital expenditures for maintenance 43                46 12                17 - Change in working Capital (30)                (5) (21)                 (15) - Taxes paid 52                58 17                18 - Other cash items (Net) (14)                31 (12)                (1) - Free cash flow discontinued operations 0                2 0                1 Free cash flow after maintenance capital exp 96                56 71% 45                20 130% - Strategic Capital expenditures 3                1 2                1 Free cash flow 93                55 68% 44                19 129% In millions of US dollars, except percentages. Information on Debt    Third Fourth Quarter Quarter Fourth Quarter 2019 2018 % var 2019 2019 2018 Total debt 1, 2 758 865 788 Currency denomination                Short term 1% 1% 18%                U.S. dollar 99% 99%                Long term 99% 99% 82%                Colombian peso 1% 1% Cash and cash equivalents 23 38 (40%) 23 Interest rate Net debt 736 828 (11%) 765                Fixed 69% 60% Net debt / EBITDA 3.7x 3.3x 3.8x                Variable 31% 40% In millions of US dollars, except percentages. 1 Includes leases, in accordance with International Financial Reporting Standards (IFRS). 2 Represents the consolidated balances of CLH and subsidiaries. 2019 Fourth Quarter Results                Page 5

OPERATING RESULTS Income statement & balance sheet CEMEX Latam Holdings, S.A. and Subsidiaries in thousands of U.S. Dollars, except per share amounts January - December Fourth Quarter l-t-l l-t-l INCOME STATEMENT 2019 2018 % var % var 2019 2018 % var % var Net sales 988,653 1,108,329 (11%) (5%) 236,827 259,809 (9%) (6%) Cost of sales (606,139) (648,348) 7% (144,409) (147,220) 2% Gross profit 382,514 459,981 (17%) (12%) 92,418 112,589 (18%) (16%) Operating expenses (266,831) (290,142) 8% (63,862) (73,445) 13% Operating earnings before other expenses, net 115,683 169,839 (32%) (27%) 28,556 39,144 (27%) (25%) Other expenses, net (13,081) 3,757 n/a (744) 4,461 n/a Operating earnings 102,602 173,596 (41%) 27,812 43,605 (36%) Financial expenses (51,956) (60,652) 14% (12,358) (16,461) 25% Other income (expenses), net (16,731) (4,231) (295%) 5,864 (14,233) n/a Net income before income taxes 33,915 108,713 (69%) 21,318 12,911 65% Income tax (29,443) (36,532) 19% (24,407) (3,236) (654%) Profit of continuing operations 4,472 72,181 (94%) (3,089) 9,675 n/a Discontinued operations 0 (9,556) 100% 0 (173) 0% Consolidated net income 4,472 62,625 (93%) (3,089) 9,502 n/a Non-controlling Interest Net Income (5) (194) 97% (23) (8) (200%) Controlling Interest Net Income 4,467 62,431 (93%) (3,112) 9,494 n/a Operating EBITDA 198,864 248,500 (20%) (15%) 52,861 56,148 (6%) (5%) Earnings of continued operations per share 0.01 0.13 (94%) (0.01) 0.02 n/a Earnings of discontinued operations per share 0.00 (0.02) 100% 0.00 (0.00) 100% as of December 31 BALANCE SHEET 2019 2018 % var Total Assets 2,994,203 3,065,110 (2%)                Cash and Temporary Investments 22,606 37,126 (39%)                Trade Accounts Receivables 70,650 87,465 (19%)                Other Receivables 90,116 64,841 39%                Inventories 77,973 81,172 (4%)                Assets held for sale 0 0 n/a                Other Current Assets 22,604 38,567 (41%) Current Assets 283,949 309,171 (8%) Fixed Assets 1,131,440 1,177,623 (4%) Other Assets 1,578,814 1,578,316 0% Total Liabilities 1,450,397 1,552,827 (7%) Liabilities available for sale 0 0 n/a Other Current Liabilities 260,872 297,477 (12%) Current Liabilities 260,872 297,477 (12%) Long-Term Liabilities 1,125,166 1,237,775 (9%) Other Liabilities 64,359 17,575 266% Consolidated Stockholders’ Equity 1,543,806 1,512,283 2% Non-controlling Interest 5,251 5,290 (1%) Stockholders’ Equity Attributable to Controlling Interest 1,538,555 1,506,993 2% 2019 Fourth Quarter Results                Page 6

OPERATING RESULTS Income statement & balance sheet CEMEX Latam Holdings, S.A. and Subsidiaries in millions of Colombian Pesos in nominal terms, except per share amounts January - December Fourth Quarter INCOME STATEMENT 2019 2018 % var 2019 2018 % var Net sales 3,262,326 3,293,999 (1%) 804,387 839,374 (4%) Cost of sales (2,000,118) (1,926,918) (4%) (490,487) (475,628) (3%) Gross profit 1,262,208 1,367,081 (8%) 313,900 363,746 (14%) Operating expenses (880,482) (862,313) (2%) (216,908) (237,281) 9% Operating earnings before other expenses, net 381,726 504,768 (24%) 96,992 126,465 (23%) Other expenses, net (43,162) 11,165 n/a (2,529) 14,411 n/a Operating earnings 338,564 515,933 (34%) 94,463 140,876 (33%) Financial expenses (171,444) (180,260) 5% (41,973) (53,180) 21% Other income (expenses), net (55,208) (12,573) (339%) 19,917 (45,985) n/a Net income before income taxes 111,912 323,100 (65%) 72,407 41,711 74% Income tax (97,156) (108,574) 11% (82,898) (10,453) (693%) Profit of continuing operations 14,756 214,526 (93%) (10,491) 31,258 n/a Discontinued operations 0 (28,403) 100% 0 (561) 100% Consolidated net income 14,756 186,123 (92%) (10,491) 30,697 n/a Non-controlling Interest Net Income (17) (576) 97% (81) (24) (232%) Controlling Interest Net Income 14,739 185,547 (92%) (10,572) 30,673 n/a Operating EBITDA 656,206 738,553 (11%) 179,542 181,400 (1%) Earnings of continued operations per share 26 385 (93%) (19) 56 n/a Earnings of discontinued operations per share 0 (51) (100%) 0 (1) 100% as of December 31 BALANCE SHEET 2019 2018 % var Total Assets 9,812,422 9,960,841 (1%)                Cash and Temporary Investments 74,081 120,649 (39%)                Trade Accounts Receivables 231,530 284,238 (19%)                Other Receivables 295,323 210,717 40%                Inventories 255,529 263,788 (3%)                Assets held for sale 0 0 n/a                Other Current Assets 74,078 125,338 (41%) Current Assets 930,541 1,004,730 (7%) Fixed Assets 3,707,889 3,826,979 (3%) Other Assets 5,173,992 5,129,132 1% Total Liabilities 4,753,153 5,046,300 (6%) Liabilities available for sale 0 0 n/a Other Current Liabilities 854,914 966,727 (12%) Current Liabilities 854,914 966,727 (12%) Long-Term Liabilities 3,687,326 4,022,460 (8%) Other Liabilities 210,912 57,113 269% Consolidated Stockholders’ Equity 5,059,269 4,914,541 3% Non-controlling Interest 17,208 17,188 0% Stockholders’ Equity Attributable to Controlling Interest 5,042,061 4,897,353 3% 2019 Fourth Quarter Results                Page 7

OPERATING RESULTS Operating Summary per Country in thousands of U.S. dollars Operating EBITDA margin as a percentage of net sales January - December Fourth Quarter l-t-l l-t-l 2019 2018 % var % var 2019 2018 % var % var NET SALES Colombia 503,839 524,330 (4%) 7% 127,515 125,081 2% 7% Panama 181,229 222,036 (18%) (18%) 38,191 52,624 (27%) (27%) Costa Rica 101,834 139,087 (27%) (26%) 21,725 27,156 (20%) (24%) Rest of CLH 216,726 238,750 (9%) (6%) 52,357 58,620 (11%) (9%) Others and intercompany eliminations (14,975) (15,874) 6% 6% (2,961) (3,672) 19% 19% TOTAL 988,653 1,108,329 (11%) (5%) 236,827 259,809 (9%) (6%) GROSS PROFIT Colombia 191,865 201,346 (5%) 6% 51,921 48,822 6% 12% Panama 63,659 85,576 (26%) (26%) 13,332 18,361 (27%) (27%) Costa Rica 47,212 65,949 (28%) (27%) 10,078 14,488 (30%) (34%) Rest of CLH 81,354 100,263 (19%) (16%) 18,333 25,692 (29%) (28%) Others and intercompany eliminations (1,576) 6,847 N/A N/A (1,246) 5,226 N/A N/A TOTAL 382,514 459,981 (17%) (12%) 92,418 112,589 (18%) (16%) OPERATING EARNINGS BEFORE OTHER EXPENSES, NET Colombia 61,291 67,847 (10%) (1%) 22,562 16,212 39% 45% Panama 31,277 48,718 (36%) (36%) 5,853 8,639 (32%) (32%) Costa Rica 25,670 40,674 (37%) (35%) 5,454 7,424 (27%) (31%) Rest of CLH 52,090 68,577 (24%) (22%) 11,391 16,304 (30%) (29%) Others and intercompany eliminations (54,645) (55,977) 2% 2% (16,704) (9,435) (77%) (77%) TOTAL 115,683 169,839 (32%) (27%) 28,556 39,144 (27%) (25%) OPERATING EBITDA Colombia 90,716 96,767 (6%) 3% 31,742 23,006 38% 41% Panama 48,619 65,746 (26%) (26%) 10,338 13,490 (23%) (23%) Costa Rica 30,313 45,490 (33%) (32%) 6,624 8,542 (22%) (27%) Rest of CLH 60,369 76,800 (21%) (19%) 13,927 18,449 (25%) (23%) Others and intercompany eliminations (31,153) (36,303) 14% 14% (9,770) (7,339) (33%) (33%) TOTAL 198,864 248,500 (20%) (15%) 52,861 56,148 (6%) (5%) OPERATING EBITDA MARGIN Colombia 18.0% 18.5% (0.5pp) 24.9% 18.4% 6.5pp Panama 26.8% 29.6% (2.8pp) 27.1% 25.6% 1.5pp Costa Rica 29.8% 32.7% (2.9pp) 30.5% 31.5% (1.0pp) Rest of CLH 27.9% 32.2% (4.3pp) 26.6% 31.5% (4.9pp) TOTAL 20.1% 22.4% (2.3pp) 22.3% 21.6% 0.7pp 2019 Fourth Quarter Results                Page 8

OPERATING RESULTS Volume Summary Consolidated volume summary Cement and aggregates in thousands of metric tons Ready mix in thousands of cubic meters January - December Fourth Quarter 2019 2018 % var 2019 2018 % var Total cement volume 1 6,454 6,649 (3%) 1,562 1,679 (7%) Total domestic gray cement volume 5,840 5,855 (0%) 1,448 1,489 (3%) Total ready-mix volume 2,401 2,604 (8%) 570 659 (13%) Total aggregates volume 5,705 6,265 (9%) 1,329 1,471 (10%) 1 Consolidated cement volume includes domestic and export volume of gray cement, white cement, special cement, mortar and clinker. Per-country volume summary January - December Fourth Quarter Fourth Quarter 2019 2019 vs. 2018 2019 vs. 2018 vs. Third Quarter 2019 DOMESTIC GRAY CEMENT Colombia 9% 4% (2%) Panama (15%) (20%) (12%) Costa Rica (21%) (13%) (13%) Rest of CLH (6%) (8%) 6% READY-MIX Colombia 5% 0% (3%) Panama (28%) (35%) (13%) Costa Rica (30%) (44%) (10%) Rest of CLH (46%) (55%) (7%) AGGREGATES Colombia 1% (1%) (3%) Panama (29%) (21%) (2%) Costa Rica (13%) (38%) (26%) Rest of CLH (27%) 39% (14%) 2019 Fourth Quarter Results                Page 9

OPERATING RESULTS Price Summary Variation in U.S. dollars January - December Fourth Quarter Fourth Quarter 2019 2019 vs. 2018 2019 vs. 2018 vs. Third Quarter 2019 DOMESTIC GRAY CEMENT Colombia (5%) 5% 3% Panama (6%) (9%) (3%) Costa Rica (4%) (2%) (2%) Rest of CLH (2%) (3%) (2%) READY-MIX Colombia (10%) (4%) 1% Panama (3%) (8%) (6%) Costa Rica (0%) (2%) 2% Rest of CLH 4% 6% (4%) AGGREGATES Colombia (6%) (1%) (0%) Panama (8%) (16%) (12%) Costa Rica (10%) (9%) 7% Rest of CLH 13% 3% (18%) For Rest of CLH, volume-weighted average prices. Variation in local currency January - December Fourth Quarter Fourth Quarter 2019 2019 vs. 2018 2019 vs. 2018 vs. Third Quarter 2019 DOMESTIC GRAY CEMENT Colombia 5% 10% 3% Panama (6%) (9%) (3%) Costa Rica (3%) (7%) (2%) Rest of CLH 1% (1%) (1%) READY-MIX Colombia 0% 1% 1% Panama (3%) (8%) (6%) Costa Rica 2% (7%) 1% Rest of CLH 6% 7% (3%) AGGREGATES Colombia 4% 4% (0%) Panama (8%) (16%) (12%) Costa Rica (9%) (14%) 6% Rest of CLH 19% 8% (17%) For Rest of CLH, volume-weighted average prices. 2019 Fourth Quarter Results                Page 10    

DEFINITIONS OF TERMS AND DISCLOSURES IFRS 16, Leases (“IFRS 16”) Beginning January 1, 2019, IFRS 16 introduced a single lessee Selected information Original accounting model which requires a lessee to recognize, for all leases, Income Statement Reported Modified assets for the right-of-use the underlying asset against a corresponding financial liability representing the net present value of estimated lease (Millions of dollars) Jan-Dec 4Q Jan-Dec 4Q payments under the contract, allowing exemptions in case of leases Revenues 1,108.3 259.8    1,108.3 259.8 with a term of up to 12 months or when the underlying asset is of low value, with a single income statement model in which the lessee Cost of sales (649.7) (147.5) (648.3) (147.2) recognizes amortization of the right-of-use asset and interest on the Operating expenses (290.8) (73.7) (290.1) (73.4) lease liability. After concluding the inventory and measurement of its Other expenses, net 3.8 4.5 3.8 4.5 leases, CEMEX Latam adopted IFRS 16 using the full retrospective Financial(expense)income and others (62.5) (30.1) (64.9) (30.7) approach by means of which it determined an opening cumulative Earnings before income tax 109.1 12.9 108.7 12.9 effect in its statement of financial position as of January 1, 2018 as Income tax (36.6) (3.2) (36.5) (3.2) follows: Earnings from continuing operations 72.5 9.7 72.2 9.7 st 1    (Millions of dollars) January 1 , 2018 As of December 31, 2019, and 2018, assets for the right-of-use Th amounted to $17.6 million and $15.0 million, respectively. In addition, Assets for the Right-of-use $ 15.7 e init as of December 31, 2019 and 2018, financial liabilities related to lease Deferred tax assets contracts amounted to $24.7 million and $22.3 million, respectively, $ 2.8 ial included within “Debt and other financial liabilities”. Lease financial liabilities $ (23.0) eff ect Deferred tax liabilities in $ (0.7) ret 1 ain Retained earnings $ (5.2) ed earnings refers to a temporary difference between the straight-line amortization expense of the right-of-use asset against the amortization of the financial liability under the effective interest rate method since origination of the contracts. This difference will reverse over the remaining term of the contracts. CEMEX Latam modified the previously reported income statement for the twelve-month period ended December 31, 2018 to give effect to the retrospective adoption of IFRS 16, as follows:    2019 Fourth Quarter Results                Page 11

DEFINITIONS OF TERMS AND DISCLOSURES Methodology for translation and presentation of results    Under IFRS, CLH reports its consolidated results in its functional The following table presents condensed combined information of the currency, which is the US Dollar, by translating the financial statements income statements of CEMEX Latam discontinued operations in its of foreign subsidiaries using the corresponding exchange rate at the operating segment in Brazil for the period from January 1 to reporting date for the balance sheet and the corresponding exchange September 27, 2018: rates at the end of each month for the income statement. INCOME STATEMENT Jan - Dec For the reader’s convenience, Colombian peso amounts for the (Millions of dollars) 2019 2018 consolidated entity are calculated by converting the US dollar amounts using the closing COP/US$ exchange rate at the reporting date for Sales    - 26.6 balance sheet purposes, and the average COP/US$ exchange rate for Cost of sales and operating - (27.9) the corresponding period for income statement purposes. The Other expenses, net - (0.1) exchange rates are provided below.    Interest expense, net and others - (0.3) Income (loss) before income tax - (1.6) Per-country/region selected financial information of the income statement is presented before corporate charges and royalties which Income tax - 0.3 are included under “other and intercompany eliminations.” Loss of discontinued operations - (1.3) Result in sale, withholding and Fx reclassification - (8.2) Discontinued operations and assets held for sale    Net loss of discontinued operations - (9.6) On September 27, 2018, after receiving the corresponding authorizations by local authorities, CEMEX Latam concluded the Consolidated financial information disposal of its construction materials operations in Brazil to Votorantim When reference is made to consolidated financial information means Cimentos N/NE S.A., comprised of a fluvial cement distribution the financial information of CLH together with its consolidated terminal located in Manaus, Amazonas state and its operating license. subsidiaries. The selling price was approximately US$31 million including working capital adjustments. CEMEX Latam’s operations in Brazil for the period Presentation of financial and operating information from January 1 to September 27, 2018 were reclassified and reported, Individual information is provided for Colombia, Panama and Costa net of income tax, in the single line item “Discontinued Operations”. Rica.    Countries in Rest of CLH include Nicaragua, Guatemala and El Salvador. Exchange rates January - December January - December Fourth Quarter 2019 EoP 2018 EoP 2019 average 2018 average 2019 average 2018 average Colombian peso 3,277.14 3,249.75 3,299.77 2,972.04 3,396.52 3,230.74 Panama balboa 1.00 1.00 1.00 1.00 1.00 1.00 Costa Rica colon 576.49 611.75 588.40 581.56 575.92 608.53 Euro 0.89 0.87 0.89 0.85 0.90 0.87 Amounts provided in units of local currency per US dollar. 2019 Fourth Quarter Results                Page 12

DEFINITIONS OF TERMS AND DISCLOSURES Contracts signed in November 2019    On November 15, 2019, through its subsidiary Balboa Investments B.V.    (“Balboa”), CEMEX sold its 25% equity interest in Cemento    Interoceánico to a subsidiary of Cementos Progreso, S.A. (the “Purchaser”) for a price of U$44 million, plus an additional consideration for up to U$20 million to be received in 2020. As condition precedent for the acquisition of such 25% equity interest of    Balboa in Cemento Interoceánico, the Purchaser required Balboa’s intermediation with Cemento Bayano, with the purpose of negotiating a new clinker supply agreement between Cemento Bayano and Cemento Interoceánico including certain commercial conditions as well as a guaranteed installed capacity reserve of its plant in Panama for a period of 10 years beginning on November 15, 2019. Cemento Bayano accepted these conditions in exchange of a compensation from Balboa for an amount of up to U$52 million during the aforementioned period of 10 years in order to compensate Cemento Bayano’s decrease in operating earnings resulting from the new clinker supply agreement. From this compensation, on November 15, 2019, Balboa anticipated to CLH U$32 million.    In addition, on November 15, 2019, as part of the agreements entered into simultaneously in which Balboa sold its 25% equity interest in    Cemento Interoceánico, CEMEX Guatemala, S.A. (“CEMEX Guatemala”) entered as purchaser into a clinker supply agreement with Cementos Progreso, S.A. aiming to acquire over a term of 10 years, an estimated volume of 400 thousand metric tons of clinker per year. The amounts under the contract will vary depending on the annual consumption of clinker by CEMEX Guatemala.    2019 Fourth Quarter Results                Page 13

DEFINITIONS OF TERMS AND DISCLOSURES Definition of terms    Free cash flow equals operating EBITDA minus net interest expense, maintenance and strategic capital expenditures, change in working capital, taxes paid, and other cash items (net other expenses less proceeds from the disposal of obsolete and/or substantially depleted operating fixed assets that are no longer in operation). Maintenance capital expenditures investments incurred for the purpose of ensuring CLH’s operational continuity. These include capital expenditures on projects required to replace obsolete assets or maintain current operational levels, and mandatory capital expenditures, which are projects required to comply with governmental regulations or internal policies.    Net debt equals total debt minus cash and cash equivalents.    Operating EBITDA equals operating earnings before other expenses, net, plus depreciation and operating amortization.    pp equals percentage points. EoP equals End of Period.    Strategic capital expenditures investments incurred with the purpose of increasing CLH’s profitability. These include capital expenditures on projects designed to increase profitability by expanding capacity, and margin improvement capital expenditures, which are projects designed to increase profitability by reducing costs. Working capital equals operating accounts receivable (including other current assets received as payment in kind) plus historical inventories minus operating payables. 2019 Fourth Quarter Results                Page 14