UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K/A

REPORT OF FOREIGN PRIVATE ISSUER

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

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of April, 2022

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):

EXPLANATORY NOTE

6-K Amendment, Replacing Exhibit 2 - First quarter 2022 results for CEMEX.

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

4

Exhibit 1

CEMEX REPORTS DOUBLE-DIGIT GROWTH

IN SALES AND INCREASE IN EBITDA

MONTERREY, MEXICO. APRIL 28, 2022 – CEMEX, S.A.B. de C.V. (“CEMEX”) (NYSE: CX) announced today strong results for the first quarter of 2022, with consolidated Net Sales and EBITDA growing 13% and 3%, respectively, on a year-over-year basis, despite a challenging cost environment. The growth was led by a 12% increase in cement prices in like-to-like terms, 8% in ready-mix, and 7% in aggregates, with all regions contributing to pricing gains. CEMEX’s Developed Market portfolio continued to enjoy strong demand dynamics, with cement and ready-mix volumes growing high single to double-digits. CEMEX maintained its 2022 EBITDA outlook, projecting mid-single digit growth.

CEMEX’s Consolidated 2022 First Quarter Financial and Operational Highlights.

“We are quite pleased with our first quarter performance despite the unprecedented global macro challenges. Against the backdrop of the worst inflation headwinds in more than 40 years, we achieved strong pricing traction across our products. Given the tight supply/demand dynamics in most of our markets, we are optimistic that we can recover input cost inflation. In addition, our diversified energy, supply chain, and Climate Action strategies are paying off and helping us respond to energy cost pressures.” said Fernando A. González, CEO of CEMEX. “We are making significant progress on our climate action efforts, pushing the boundaries on innovation – introducing new sustainable products and developing breakthrough decarbonization technologies. Our performance gives me great confidence that we can reach not only our 2030 climate goal but also our Net Zero ambition.”

1

Geographical Markets 2022 First Quarter Highlights

In the Europe, Middle East, Africa and Asia region, Net Sales increased 14% in the first quarter, to US$1,185 million. Operating EBITDA was US$145 million for the quarter, 33% higher.

CEMEX’s operations in the United States reported Net Sales of US$1,196 million in the first quarter, an increase of 18%. Operating EBITDA increased 2% to US$200 million in the first quarter.

Net Sales in Mexico increased 5% in the first quarter, to US$881 million. Operating EBITDA decreased 6% in first the quarter, to US$286 million.

CEMEX’s operations in the South, Central America and the Caribbean region, reported Net Sales of US$416 million in the first quarter, an increase of 9%. Operating EBITDA decreased 3% to US$109 million in the quarter.

Note: All percentage variations related to Net Sales and EBITDA are on a like-to-like basis for the ongoing operations and for foreign exchange fluctuations compared to the same period of last year.

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 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: cemex.com

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CEMEX assumes no obligation to update or correct the information contained in this press release. 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 and uncertainties that could cause actual results to differ materially from CEMEX’s expectations. 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. CEMEX is not responsible for the content of any third-party website or webpage referenced to or accessible through this press release.

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Exhibit 2

First Quarter Results 2022 Zoncuantla Apartments, Veracruz, Mexico Built with Hidratium, part of our Vertua family of sustainable products Stock Listing Information Investor Relations NYSE (ADS) In the United States: Ticker: CX + 1 877 7CX NYSE Mexican Stock Exchange In Mexico: Ticker: CEMEXCPO + 52 (81) 8888 4292 Ratio of CEMEXCPO to CX = 10:1 E-Mail: ir@cemex.com

Operating and financial highlights January - March First Quarter l-t-l l-t-l 2022 2021 % var % var 2022 2021 % var % var Consolidated cement volume 15,776 15,934 (1%) 15,776 15,934 (1%) Consolidated ready-mix volume 12,167 11,527 6% 12,167 11,527 6% Consolidated aggregates volume 33,867 31,643 7% 33,867 31,643 7% Net sales 3,770 3,374 12% 13% 3,770 3,374 12% 13% Gross profit 1,160 1,094 6% 7% 1,160 1,094 6% 7% as % of net sales 30.8% 32.4% (1.6pp) 30.8% 32.4% (1.6pp) Operating earnings before other income and expenses, net 410 397 3% 2% 410 397 3% 2% as % of net sales 10.9% 11.8% (0.9pp) 10.9% 11.8% (0.9pp) SG&A expenses as % of net sales 7.8% 7.9% (0.1pp) 7.8% 7.9% (0.1pp) Controlling interest net income (loss) 198 665 (70%) 198 665 (70%) Operating EBITDA 691 674 3% 3% 691 674 3% 3% as % of net sales 18.3% 20.0% (1.7pp) 18.3% 20.0% (1.7pp) Free cash flow after maintenance -175 1 N/A -175 1 N/A capital expenditures Free cash flow -251 -53 (376%) -251 -53 (376%) Total debt 8,963 10,413 (14%) 8,963 10,413 (14%) Earnings (loss) of continuing operations per ADS 0.13 0.42 (70%) 0.13 0.42 (70%) Fully diluted earnings (loss) of continuing operations per ADS (1) 0.13 0.42 (70%) 0.13 0.42 (70%) Average ADSs outstanding 1,489 1,496 (0%) 1,489 1,496 (0%) Employees 46,535 42,304 10% 46,535 42,304 10% This information does not include discontinued operations. Please see page 13 on this report for additional information. Cement and aggregates volumes in thousands of metric tons. Ready-mix volumes in thousands of cubic meters. In millions of U.S. dollars, except volumes, percentages, employees, and per-ADS amounts. Average ADSs outstanding are presented in millions. Please refer to page 13 for end-of quarter CPO-equivalent units outstanding. Consolidated net sales in the first quarter of 2022 reached US$3.8 billion, an increase of 13% on a like-to-like basis for the ongoing operations and for foreign exchange fluctuations, compared to the first quarter of 2021. Double digit increases in cement prices in three of our four regions were the main drivers of our top line growth. Cost of sales, as a percentage of net sales, increased by 1.6pp during the first quarter of 2022 compared to the same period last year, from 67.6% to 69.2%. The increase was mainly driven by higher energy costs, as well as higher freight and imports. Operating expenses, as a percentage of net sales, decreased by 0.8pp during the first quarter of 2022 compared with the same period last year, from 20.7% to 19.9% mainly due to higher sales, and cost containment initiatives. Operating EBITDA in the first quarter of 2022 reached US$691 million, increasing 3% on a like-to-like basis for the ongoing operations and for foreign exchange fluctuations. During the quarter, our EMEA and U.S. regions contributed favorably to EBITDA. Operating EBITDA margin decreased by 1.7pp from 20.0% in the first quarter of 2021 to 18.3% this quarter. Controlling interest net income (loss) resulted in an income of US$198 million in the first quarter of 2022 versus an income of US$665 million in the same quarter of 2021. The lower net income reflects lower operating earnings mainly due to an extraordinary gain on sale of assets of $600 million in the previous year. 2022 First Quarter Results Page 2

Operating results    Mexico    January - March First Quarter l-t-l l-t-l 2022 2021 % var 2022 2021 % var % var % var Net sales 881 822 7% 5% 881 822 7% 5% Operating EBITDA 286 299 (4%) (6%) 286 299 (4%) (6%) Operating EBITDA margin 32.5% 36.4% (3.9pp)    32.5% 36.4% (3.9pp)    In millions of U.S. dollars, except percentages.    Domestic gray cement Ready-mix Aggregates    Year-over-year percentage January - March First Quarter January - March First Quarter January - March First Quarter variation Volume (8%) (8%) 9% 9% 5% 5% Price (USD) 15% 15% 13% 13% 15% 15% Price (local currency) 13% 13% 11% 11% 13% 13%    In Mexico, sales increased 5% during the first quarter of 2022 driven by a successful pricing strategy. In local currency terms, cement prices grew 13%, ready-mix 11%, and aggregates 13%. The January cement price announcement experienced record traction with cement prices increasing 9% sequentially. Cement volumes declined 8% reflecting weaker demand in bagged cement, while the formal sector continues to show improvement. Demand for our products was mainly driven by industrial and commercial, and formal residential activity. The decline in bagged cement resulted from a difficult comparison base.    We announced a second price increase in bagged cement effective April 1st, 2022. Our pricing strategy and cost containment initiatives should offset the inflation challenges experienced in the country.    United States    January - March First Quarter l-t-l l-t-l 2022 2021 % var 2022 2021 % var % var % var Net sales 1,196 1,013 18% 18% 1,196 1,013 18% 18% Operating EBITDA 200 196 2% 2% 200 196 2% 2% Operating EBITDA margin 16.8% 19.4% (2.6pp)    16.8% 19.4% (2.6pp)                In millions of U.S. dollars, except percentages.    Domestic gray cement Ready-mix Aggregates Year-over-year percentage January - March First Quarter January - March First Quarter January - March First Quarter variation Volume 9% 9% 7% 7% 9% 9% Price (USD) 10% 10% 9% 9% 8% 8% Price (local currency) 10% 10% 9% 9% 8% 8%    In the United States, our operations continued to enjoy strong demand across all products in a largely sold-out domestic market. Strong volume performance and improved pricing in our three core products led to solid top-line growth during the quarter. While EBITDA margin declined year over year due to cost headwinds from energy, imports, and logistics, sequential margin improved almost 1 percentage point. We successfully implemented price increases in January in markets accounting for 40% of our US cement volumes, resulting in sequential price increases of between 3% to 4% for our core products in the quarter. In April, our remaining markets received their first pricing increase of the year.    2022 First Quarter Results                Page 3

Operating results    Europe, Middle East, Africa and Asia    January - March First Quarter l-t-l l-t-l 2022 2021 % var 2022 2021 % var % var % var Net sales 1,185 1,086 9% 14% 1,185 1,086 9% 14% Operating EBITDA 145 113 29% 33% 145 113 29% 33% Operating EBITDA margin 12.3% 10.4% 1.9pp    12.3% 10.4% 1.9pp    In millions of U.S. dollars, except percentages.    Domestic gray cement Ready-mix Aggregates Year-over-year percentage January - March First Quarter January - March First Quarter January - March First Quarter variation Volume 6% 6% 3% 3% 7% 7% Price (USD) 11% 11% 4% 4% 0% 0% Price (local currency) (*) 17% 17% 8% 8% 4% 4%    In EMEA, double-digit growth in Sales and EBITDA was driven mainly by solid pricing performance across all products and mid-single digit volume growth. Our EBITDA margin in the region increased 1.9pp year over year. Europe was responsible for much of the improvement with like-to-like prices for our three core products rising between 9% and 13% sequentially, reflecting strong January increases. In April, we implemented price increases in markets representing ~40% of European cement volumes, that did not have a January increase. Cement volumes grew 16%, led by infrastructure and residential activity, and milder winter weather. In the Philippines, cement volumes declined 6% mainly as a result of disruptions caused by Typhoon Odette in December 2021 and COVID-19 lockdown measures. Cement prices improved 3% sequentially, marking four consecutive quarters of growth. In Israel, construction activity continued strong, with ready-mix and aggregates volumes growing, while sequential prices increased between mid to high single digits. In Egypt, EBITDA continued to improve mainly driven by the industry rationalization plan announced by the government last year.    (*) Calculated on a volume-weighted-average basis at constant foreign-exchange rates    2022 First Quarter Results                Page 4

Operating results    South, Central America and the Caribbean    January - March First Quarter l-t-l l-t-l 2022 2021 % var 2022 2021 % var % var % var Net sales 416 391 6% 9% 416 391 6% 9% Operating EBITDA 109 113 (3%) (3%) 109 113 (3%) (3%) Operating EBITDA margin 26.3% 28.9% (2.6pp)    26.3% 28.9% (2.6pp)    In millions of U.S. dollars, except percentages.    Domestic gray cement Ready-mix Aggregates Year-over-year percentage January - March First Quarter January - March First Quarter January - March First Quarter variation Volume (2%) (2%) 9% 9% (0%) (0%) Price (USD) 6% 6% (6%) (6%) (4%) (4%) Price (local currency) (*) 9% 9% (2%) (2%) 0% 0%    In our South, Central America and the Caribbean region, our sales increased 9%, primarily driven by strong pricing. With high capacity utilization in most of our countries, regional cement prices were up 9% compared to the dirst quarter of 2021. Starting in April, we announced a second round of price increases in markets that represent 30% of our regional cement volumes. As a result of higher energy costs, EBITDA and EBITDA margin declined 3% and 2.6 percentage points, respectively, during the quarter. In Colombia, cement volumes grew 4% and were supported by housing, self-construction, and infrastructure activity. In the Dominican Republic, cement volumes declined 4% led by a reduction in bagged cement sales. The formal sector, however, continues to recover mainly driven by tourism and formal housing. During April, we reopened a kiln in our plant that is expected to increase our production capacity in the Dominican Republic by a third, underscoring our growth strategy and commitment to the development of the country.    (*) Calculated on a volume-weighted-average basis at constant foreign-exchange rates    2022 First Quarter Results                Page 5

Operating results    Operating EBITDA and free cash flow    January - March First Quarter    2022 2021 % var 2022 2021 % var Operating earnings before other income and expenses, net 410 397 3% 410 397 3% + Depreciation and operating amortization 281 277    281 277    Operating EBITDA 691 674 3% 691 674 3%    - Net financial expense 128 170 128 170    - Maintenance capital expenditures 182 96 182 96    - Change in working capital 498 346 498 346    - Taxes paid 50 48 50 48    - Other cash items (net) 17 21 17 21 - Free cash flow discontinued operations (9) (7)    (9) (7)    Free cash flow after maintenance capital expenditures (175) 1 N/A (175) 1 N/A    - Strategic capital expenditures 76 53 76 53 Free cash flow (251) (53) (376%) (251) (53) (376%)    In millions of U.S. dollars, except percentages. Despite higher EBITDA and lower financial expense, FCF after maintenance capex declined versus the prior year due to higher investment in working capital and maintenance capex. Investment in working capital increased due to higher sales, and higher inventories to support customer demand, as markets continue to face supply chain bottlenecks. Our working capital cycle is seasonal, and investments in the first quarter typically turn around in the beginning of the second half. The increase in maintenance capex relates primarily to the delayed delivery of mobile equipment, originally slated for 2021, mostly due to supply chain disruptions.    Information on debt                Fourth First Quarter Quarter First Quarter    2022 2021 % var 2021 2022 2021 Total debt (1) 8,963 10,413 (14%) 8,555 Currency denomination                Short-term 4% 8% 4% U.S. dollar 85% 66%    Long-term 96% 92% 96% Euro 7% 22% Cash and cash equivalents 593 1,309 (55%) 613 Mexican peso 3% 4% Net debt 8,370 9,104 (8%) 7,942 Other 5% 9%    Consolidated net debt (2) 8,266 9,583    7,921 Interest rate(3)    Consolidated leverage ratio (2) 2.83 3.66 2.73 Fixed 86% 83% Consolidated coverage ratio (2) 6.60 4.10    5.99 Variable 14% 17%    In millions of U.S. dollars, except percentages and ratios.    (1) Includes leases, in accordance with International Financial Reporting Standards (IFRS). (2) Calculated in accordance with our contractual obligations under the 2021 Credit Agreement. (3) Includes the effect of interest-rate swap instruments related to bank loans to fix floating rates with a nominal amount of US$1,013 million.    Net debt increased on a sequential basis primarily due to the negative free cash flow and the share buybacks made during the quarter. This also resulted in a slight increase in our consolidated leverage ratio.    We entered 2022 with a very solid financial position, with no substantial refinancing needs for the next three years, a strong liquidity position and minimal exposure to interest rates, as close to 90% of our debt is at a fixed rate. During the quarter, we launched a tender offer to purchase up to $500 million dollars of three of our notes. Through the tender process, which closed on April 27th, 2022, we repurchased approximately $440 million in notes at a discount. This exercise should result in more than $11 million dollars in annual interest expense savings and was be funded through our revolving credit facility at a lower rate than the coupon of the notes.    2022 First Quarter Results                Page 6

Operating results Consolidated Statement of Operations & Statement of Financial Position CEMEX, S.A.B. de C.V. and Subsidiaries (Thousands of U.S. dollars, except per ADS amounts) January - March First Quarter like-to-like like-to-like STATEMENT OF OPERATIONS 2022 2021 % var % var 2022 2021 % var % var Net sales 3,769,992 3,374,080 12% 13% 3,769,992 3,374,080 12% 13% Cost of sales (2,610,463) (2,280,048) (14%) (2,610,463) (2,280,048) (14%) Gross profit 1,159,528 1,094,031 6% 7% 1,159,528 1,094,031 6% 7% Operating expenses (749,780) (697,152) (8%) (749,780) (697,152) (8%) Operating earnings before other income and expenses, net 409,748 396,879 3% 2% 409,748 396,879 3% 2% Other expenses, net (21,167) 572,138 N/A (21,167) 572,138 N/A Operating earnings 388,581 969,017 (60%) 388,581 969,017 (60%) Financial expense (119,438) (244,440) 51% (119,438) (244,440) 51% Other financial income (expense), net (23,935) (19,383) (23%) (23,935) (19,383) (23%) Financial income 3,896 3,197 22% 3,896 3,197 22% Results from financial instruments, net (2,074) (98) (2020%) (2,074) (98) (2020%) Foreign exchange results (10,405) (6,384) (63%) (10,405) (6,384) (63%) Effects of net present value on assets and liabilities and others, net (15,352) (16,098) 5% (15,352) (16,098) 5% Equity in gain (loss) of associates 5,401 3,345 61% 5,401 3,345 61% Income (loss) before income tax 250,609 708,540 (65%) 250,609 708,540 (65%) Income tax (52,140) (72,859) 28% (52,140) (72,859) 28% Profit (loss) of continuing operations 198,469 635,681 (69%) 198,469 635,681 (69%) Discontinued operations 9,345 36,658 (75%) 9,345 36,658 (75%) Consolidated net income (loss) 207,814 672,339 (69%) 207,814 672,339 (69%) Non-controlling interest net income (loss) 9,729 7,805 25% 9,729 7,805 25% Controlling interest net income (loss) 198,084 664,533 (70%) 198,084 664,533 (70%) Operating EBITDA 690,763 673,812 3% 3% 690,763 673,812 3% 3% Earnings (loss) of continued operations per ADS 0.13 0.42 (70%) 0.13 0.42 (70%) Earnings (loss) of discontinued operations per ADS 0.01 0.02 (74%) 0.01 0.02 (74%) As of March 31 STATEMENT OF FINANCIAL POSITION 2022 2021 % var Total assets 27,176,873 27,562,367 (1%) Cash and cash equivalents 592,863 1,308,733 (55%) Trade receivables less allowance for doubtful accounts 1,793,924 1,631,961 10% Other accounts receivable 580,605 406,358 43% Inventories, net 1,393,335 1,073,814 30% Assets held for sale 146,674 155,764 (6%) Other current assets 139,446 131,157 6% Current assets 4,646,847 4,707,787 (1%) Property, machinery and equipment, net 11,354,360 11,160,912 2% Other assets 11,175,666 11,693,668 (4%) Total liabilities 16,660,504 17,987,728 (7%) Current liabilities 5,393,802 5,417,872 (0%) Long-term liabilities 7,669,721 8,693,079 (12%) Other liabilities 3,596,982 3,876,777 (7%) Total stockholder’s equity 10,516,369 9,574,639 10% Common stock and additional paid-in capital 7,810,104 7,893,304 (1%) Other equity reserves and subordinated notes (1,335,850) (2,506,717) 47% Retained earnings 3,585,508 3,298,843 9% Non-controlling interest and perpetual instruments 456,607 889,209 (49%) 2022 First Quarter Results Page 7

Operating results Operating Summary per Country In thousands of U.S. dollars January - March First Quarter like-to-like like-to-like NET SALES 2022 2021 % var % var 2022 2021 % var % var Mexico 880,700 821,642 7% 5% 880,700 821,642 7% 5% U.S.A. 1,196,130 1,013,157 18% 18% 1,196,130 1,013,157 18% 18% Europe, Middle East, Asia and Africa 1,185,165 1,085,659 9% 14% 1,185,165 1,085,659 9% 14% Europe 791,048 717,551 10% 17% 791,048 717,551 10% 17% Philippines 102,038 107,466 (5%) 1% 102,038 107,466 (5%) 1% Middle East and Africa 292,079 260,642 12% 11% 292,079 260,642 12% 11% South, Central America and the Caribbean 416,109 391,029 6% 9% 416,109 391,029 6% 9% Others and intercompany eliminations 91,887 62,592 47% 50% 91,887 62,592 47% 50% TOTAL 3,769,992 3,374,080 12% 13% 3,769,992 3,374,080 12% 13% GROSS PROFIT Mexico 415,955 427,330 (3%) (4%) 415,955 427,330 (3%) (4%) U.S.A. 297,313 266,151 12% 12% 297,313 266,151 12% 12% Europe, Middle East, Asia and Africa 270,427 235,874 15% 20% 270,427 235,874 15% 20% Europe 172,712 146,065 18% 25% 172,712 146,065 18% 25% Philippines 38,803 42,493 (9%) (3%) 38,803 42,493 (9%) (3%) Middle East and Africa 58,912 47,317 25% 25% 58,912 47,317 25% 25% South, Central America and the Caribbean 152,481 150,174 2% 2% 152,481 150,174 2% 2% Others and intercompany eliminations 23,352 14,502 61% 61% 23,352 14,502 61% 61% TOTAL 1,159,528 1,094,031 6% 7% 1,159,528 1,094,031 6% 7% OPERATING EARNINGS BEFORE OTHER EXPENSES, NET Mexico 246,457 260,021 (5%) (7%) 246,457 260,021 (5%) (7%) U.S.A. 81,719 87,240 (6%) (6%) 81,719 87,240 (6%) (6%) Europe, Middle East, Asia and Africa 62,737 30,465 106% 110% 62,737 30,465 106% 110% Europe 16,626 (4,852) N/A N/A 16,626 (4,852) N/A N/A Philippines 19,136 18,956 1% 5% 19,136 18,956 1% 5% Middle East and Africa 26,975 16,361 65% 67% 26,975 16,361 65% 67% South, Central America and the Caribbean 88,578 91,735 (3%) (4%) 88,578 91,735 (3%) (4%) Others and intercompany eliminations (69,742) (72,581) 4% 5% (69,742) (72,581) 4% 5% TOTAL 409,748 396,879 3% 2% 409,748 396,879 3% 2% 2022 First Quarter Results Page 8

Operating results
2022 First Quarter Results Page 9
Operating Summary per Country
EBITDA in thousands of U.S. dollars. EBITDA margin as a percentage of Net Sales.
January—March First Quarter
like-to-likelike-to-like
OPERATING EBITDA    2022 2021% var % var 20222021% var % var
Mexico    285,938 298,743(4%)(6%)285,938298,743(4%)(6%)
U.S.A.    200,426 196,4642%2%200,426196,4642%2%
Europe, Middle East, Asia and Africa    145,378 112,60329%33%145,378112,60329%33%
Europe    69,470 52,94031%37%69,47052,94031%37%
Philippines    28,910 30,386(5%)(0%)28,91030,386(5%)(0%)
Middle East and Africa    46,999 29,27761%61%46,99929,27761%61%
South, Central America and the Caribbean    109,255 112,872(3%)(3%)109,255112,872(3%)(3%)
Others and intercompany eliminations    (50,234) (46,869)(7%)(6%)(50,234)(46,869)(7%)(6%)
TOTAL    690,763 673,8123%3%690,763673,8123%3%
OPERATING EBITDA MARGIN    
Mexico    32.5% 36.4%32.5%36.4%
U.S.A.    16.8% 19.4%16.8%19.4%
Europe, Middle East, Asia and Africa    12.3% 10.4%12.3%10.4%
Europe    8.8% 7.4%8.8%7.4%
Philippines    28.3% 28.3%28.3%28.3%
Middle East and Africa    16.1% 11.2%16.1%11.2%
South, Central America and the Caribbean    26.3% 28.9%26.3%28.9%
TOTAL    18.3% 20.0%18.3%20.0%

Volume Summary
Cement and aggregates: Thousands of metric tons. Ready-mix: Thousands of cubic meters.
January—March     First Quarter
2022    2021 % var 20222021% var
Consolidated cement volume (1)    15,776 15,934(1%)15,77615,934(1%)
Consolidated ready-mix volume    12,167 11,5276%12,16711,5276%
Consolidated aggregates volume (2)    33,867 31,6437%33,86731,6437%
Per-country volume summary
January—March    First Quarter First Quarter 2022 vs.
DOMESTIC GRAY CEMENT VOLUME    2022 vs. 2021 2022 vs. 2021Fourth Quarter 2021
Mexico    (8%) (8%)(11%)
U.S.A.    9% 9%6%
Europe, Middle East, Asia and Africa    6% 6%(1%)
Europe    16% 16%(12%)
Philippines    (6%) (6%)10%
Middle East and Africa    (1%) (1%)19%
South, Central America and the Caribbean    (2%) (2%)(1%)
READY-MIX VOLUME    
Mexico    9% 9%(5%)
U.S.A.    7% 7%4%
Europe, Middle East, Asia and Africa    3% 3%(7%)
Europe    8% 8%(7%)
Philippines    N/A N/A N/A
Middle East and Africa    (4%) (4%)(8%)
South, Central America and the Caribbean    9% 9%0%
AGGREGATES VOLUME    
Mexico    5% 5%(10%)
U.S.A.    9% 9%8%
Europe, Middle East, Asia and Africa    7% 7%(8%)
Europe    5% 5%(8%)
Philippines    N/A N/A N/A
Middle East and Africa    11% 11%(6%)
South, Central America and the Caribbean    (0%) (0%)(3%)
Consolidated cement volume includes domestic and export volume of gray cement, white cement, special cement, mortar, and clinker.
Consolidated aggregates volumes include aggregates from our marine business in UK.

Price Summary
Variation in U.S. dollars
January—March    First Quarter First Quarter 2022 vs.
DOMESTIC GRAY CEMENT PRICE    2022 vs. 2021 2022 vs. 2021Fourth Quarter 2021
Mexico    15% 15%12%
U.S.A.    10% 10%4%
Europe, Middle East, Asia and Africa (*)    11% 11%5%
Europe (*)    8% 8%10%
Philippines    1% 1%2%
Middle East and Africa (*)    34% 34%4%
South, Central America and the Caribbean (*)    6% 6%8%
READY-MIX PRICE    
Mexico    13% 13%8%
U.S.A.    9% 9%4%
Europe, Middle East, Asia and Africa (*)    4% 4%5%
Europe (*)    (0%) (0%)7%
Philippines    N/A N/A N/A
Middle East and Africa (*)    12% 12%3%
South, Central America and the Caribbean (*)    (6%) (6%)1%
AGGREGATES PRICE    
Mexico    15% 15%9%
U.S.A.    8% 8%3%
Europe, Middle East, Asia and Africa (*)    0% 0%8%
Europe (*)    (2%) (2%)9%
Philippines    N/A N/A N/A
Middle East and Africa (*)    10% 10%5%
South, Central America and the Caribbean (*)    (4%) (4%)1%
(*) Price variation in U.S. dollars calculated on a volume-weighted-average basis; price variation in local currency calculated on a volume-weighted-average basis at constant foreign-exchange rates

Variation in Local Currency                
January—March First Quarter First Quarter 2022 vs. DOMESTIC GRAY CEMENT PRICE 2022 vs. 2021    2022 vs. 2021    Fourth Quarter 2021 Mexico 13%    13%    9% U.S.A. 10% 10% 4% Europe, Middle East, Asia and Africa (*) 17% 17% 8% Europe (*) 15% 15% 13% Philippines 7% 7% 3% Middle East and Africa (*) 41% 41% 9% South, Central America and the Caribbean (*) 9%    9%    7%
READY-MIX PRICE    
Mexico 11%    11%    5% U.S.A. 9% 9% 4% Europe, Middle East, Asia and Africa (*) 8% 8% 8% Europe (*) 6% 6% 9% Philippines N/A N/A N/A
Middle East and Africa (*) 9% 9% 5% South, Central America and the Caribbean (*) (2%)    (2%)    (0%)
AGGREGATES PRICE    
Mexico 13%    13%    6% U.S.A. 8% 8% 3% Europe, Middle East, Asia and Africa (*) 4% 4% 11% Europe (*) 3% 3% 12% Philippines N/A N/A N/A
Middle East and Africa (*) 7% 7% 7% South, Central America and the Caribbean (*) 0%    0%    (1%) (*) Price variation in U.S. dollars calculated on a volume-weighted-average basis; price variation in local currency calculated on a volume-weighted-average basis at constant foreign-exchange rates

Other information
Operating Expenses Derivative instruments
The following table shows the breakdown of operating expenses for the The following table shows the aggregate notional amount for each type of period presented. CEMEX’s derivative derivative instrument instruments and the as of the fair last market day of value each for quarter all of
January—March First Quarter presented.
In thousands of US dollars 2022 2021 2022 2021 First Quarter Fourth Quarter Administrative expenses 219,824 199,695 219,824 199,695 2022 2021 2021 Selling expenses 72,635 66,868 72,635 66,868 Notional Fair Notional Fair Notional Fair Distribution and logistic In millions of US dollars 411,456 378,761 411,456 378,761 amount value amount value amount value expenses Operating expenses before Exchange rate 1,842 1 1,028 (11) 1,761 9 703,916 645,323 703,916 645,323 (1) depreciation derivatives Depreciation in operating 45,864 51,829 45,864 51,829 Interest rate 1,313 31 1,325 (41) 1,005 (18) expenses (2) Operating expenses 749,780 697,152 749,780 697,152 swaps    Fuel 117 68 108 24 145 30 derivatives (3) As % of Net Sales    3,272 100 2,461 (28) 2,911 21 Administrative expenses 5.8% 5.9% 5.8% 5.9%
SG&A expenses 7.8% 7.9% 7.8% 7.9% (1) Exchange rate derivatives to manage currency exposures arising from regular operations, net investment hedge and forecasted transactions. As of March 31, 2022, it includes a notional of US$1,542 million of net investment hedge.
Equity-related information Interest-rate swap derivatives to bank loans. In
(2) related addition, as of One CEMEX ADS represents ten CEMEX CPOs. One CEMEX CPO March 31, 2022, it includes a forward interest rate swap derivative related represents two Series A shares and one Series B share. The following to the exposure to changes in interest rates. The forward interest rate amounts are expressed in CPO-equivalent terms. swap is recognized as a cash flow hedge for forecasted transaction for a nominal amount of US$300 million.
(3) Forward contracts negotiated to hedge the price of the fuel for own
Beginning-of-quarter outstanding CPO-equivalents 14,708,429,449 consumption only in certain operations.
Shares repurchase program 220,642,478 Under IFRS, companies are required to recognize all derivative End-of-quarter outstanding CPO-equivalents 14,487,786,971 their financial estimated instruments fair market on the    value, balance with sheet changes as assets in such or liabilities, fair market at For    purposes of this report, outstanding CPO-equivalents equal the values recorded in the income statement, except when transactions are entered into for cash-flow-hedging purposes. In such cases, held total in number CPO form of Series less CPOs A and held B shares in subsidiaries, outstanding which as as if they of March were 31, all changes in the fair market value of the related derivative instruments are recognized temporarily in equity and then reclassified into 2022 were 20,541,277. earnings as the inverse effects of the underlying hedged items flow through the income statement. Moreover, in transactions related to net investment hedges, changes in fair value are recorded directly in equity to the income as part statement of the currency only upon translation disposal effect. of the They net are investment. reclassified As market of March value 31, recognition, 2022, in connection CEMEX recognized with its derivatives increases in portfolio’s its assets and fair liabilities, resulting in a net asset of US$100 million.

Assets held for sale and discontinued operations Other significant transactions Cementos On December Progreso 29, 2021, Holdings, CEMEX S.L. signed for the    agreements sale of its operations with affiliates in Costa of As allowances previously in the reported, European in    Union connection (the “Allowances”) with the CO2 under emission the EU to Rica final and adjustments. El Salvador, The for a assets total for consideration divestment of consist $335 million of one cement subject Emissions 2021, in different Trading transactions, System (“EU CEMEX ETS”), during sold 12.3 the million second Allowances half of March for plant, quarry, one as    grinding well as station, one distribution seven ready-mix center in plants, Costa one Rica aggregates and one approximately was recognized € in 509 the million three-month (approximately period ended US$600 March million) 31, . This 2021, sale as distribution satisfaction of center closing in El conditions Salvador. in    The Costa transaction Rica and    isEl    subject Salvador, to part of the line item “Other expenses, net”. including expects to    approvals finalize this by transaction competition during authorities, the first half CEMEX of 2022. currently As of Issuance of Subordinated Notes without Fixed Maturity March 31, 2022, and December 31, 2021, the assets and liabilities On of US$ June 1.0 8, 2021, billion CEMEX, of its S. 5.125% A.B. de    Subordinated C.V. successfully Notes closed with the no issuance Fixed associated with these operations were presented in the Statement of Financial Position within the line items of “Assets held for sale and Maturity the Subordinated (the “Subordinated Notes to redeem Notes”) in . full CEMEX in June used 2021 the all proceeds outstanding from liabilities directly related to assets held for sale”, as correspond. CEMEX’s operations of these assets for the three-month periods ended special series of purpose perpetual vehicles debentures for an aggregate previously amount issued of by approximately consolidated March 31, 2022, and 2021 are reported in the income statements, net of income tax, in the single line item “Discontinued operations.” repayment US$447 million of and other for indebtedness. other general corporate The perpetual purposes, debentures including were the On July 9, 2021, CEMEX concluded the sale of its white cement business accounted as part of CEMEX’s non-controlling interest in equity. to Çimsa Çimento Sanayi Ve Ticaret A.Ş. agreed in March 2019 for a price of approximately US$155 million. Assets sold included CEMEX’s Considering including that the they overall do not characteristics have contractual of repayment the Subordinated date and    do Notes, not Buñol cement plant in Spain and its white cement business outside Mexico and the United States. CEMEX’s operations of these assets for meet for its the Subordinated definition of Notes a financial as equity liability instruments under IFRS, in the CEMEX line item accounts “Other the three-month period ended March 31, 2021, are reported in the income statements, net of income tax, in the single line item equity September reserves 30, and 2021, subordinated such line item notes includes without the fixed proceeds maturity. from ” As the of “Discontinued operations.” issuance US$994 million. of Subordinated    Notes net of issuance costs for a total of quarry On March in 31, France 2021, to CEMEX LafargeHolcim sold 24 concrete for approximately plants and one US$ aggregates 44 million. These assets were located in the Rhone Alpes region in the Southeast intangible Impairment assets of property, in 3Q21 plant and equipment, goodwill and other retained. of France, CEMEX’s east of    operations CEMEX´s Lyon of these operations, assets for which the    the three-month company period ended March 31, 2021, are reported in the income statements, freight During the and third supply quarter chain of 2021, disruptions rising input led cost to inflation a confirmation and higher of net of income tax, in the single line item “Discontinued operations.” impairment other businesses. indicators As a in result, Spain, we the recognized United Arab a Emirates non-cash (“UAE”) aggregate and The following table presents condensed combined information of the income statements of CEMEX’s discontinued operations, previously goodwill comprised impairment of, approximately, charge US$ of317 approximately million related    US$ to our 440 business million mentioned, in: a) Costa Rica and El Salvador for the three-month periods ended March 31, 2022 and 2021; b) Spain related to the white in related Spain, to US$ our 96    IT million business related segment to our business due to in a UAE, reorganization. and $27 million The cement business for the three-month period ended March 31, 2021; and c) the southeast of France for the three-month period ended March excess impairment of the of net goodwill book value in Spain of such and businesses the UAE in 2021 versus resulted the discounted from an 31, 2021: reporting cash flow segments. projections    as of September 30, 2021, related to these STATEMENT OF OPERATIONS Jan-Mar First Quarter (Millions of U.S. dollars) 2022 2021 2022 2021 In addition, during the third quarter of 2021 we recognized non-cash Sales 35 60 35 60 impairment of certain internal charges use of software intangible of assets US$49 due million. to a technological    revamp Cost of sales, operating expenses, and other expenses -30 -53 -30 -53 These non-cash charges recognized during the third quarter of 2021 Interest expense, net, and did not impact our liquidity, Operating EBITDA and cash taxes payable, others 9—9—nevertheless affected in each our quarter. total assets,    net income (loss) and equity were Income before income tax 14 7 14 7 Income tax -4 -2 -4 -2 Income from discontinued operations 10 5 10 5 Net gain on sale -1 32 -1 32 Income from discontinued operations 9 37 9 37

Methodology for translation, consolidation, and presentation of Net debt equals total debt (debt plus convertible bonds and financial results leases) minus cash and cash equivalents. Operating EBITDA equals operating earnings before other income and Under IFRS, CEMEX translates the financial statements of foreign expenses, net, plus depreciation and operating amortization. subsidiaries using exchange rates at the reporting date for the balance pp equals percentage points sheet and the exchange rates at the end of each month for the income Prices all references to pricing initiatives, price increases or decreases, statement. Beginning on March 31, 2019 and for each subsequent refer to our prices for our products period CEMEX reports its consolidated results in U.S. dollars. SG&A expenses equal selling and administrative expenses Strategic capital expenditures equal investments incurred with the Breakdown of regions and subregions purpose of increasing the company’s profitability. These include The South, Central America and the Caribbean region includes capital expenditures on projects designed to increase profitability by CEMEX’s operations in Bahamas, Colombia, the Dominican Republic, expanding capacity, and margin improvement capital expenditures, Guatemala, Guyana, Haiti, Jamaica, Trinidad & Tobago, Barbados, which are projects designed to increase profitability by reducing costs. Nicaragua, Panama, Peru, and Puerto Rico, as well as trading Working capital equals operating accounts receivable (including other operations in the Caribbean region. current assets received as payment in kind) plus historical inventories The EMEA region includes Europe, Middle East, Asia, and Africa. Asia minus operating payables. subregion includes our Philippines operations. % var percentage variation Europe subregion includes operations in Spain, Croatia, the Czech Republic, France, Germany, Poland, and the United Kingdom. Earnings per ADS Middle East and Africa subregion include the United Arab Emirates, Please refer to page 2 for the number of average ADSs outstanding used Egypt, and Israel. for the calculation of earnings per ADS. According to the IAS 33 Earnings per share, the weighted-average Definition of terms number of common shares outstanding is determined considering the Free cash flow equals operating EBITDA minus net interest expense, number of days during the accounting period in which the shares have maintenance, and strategic capital expenditures, change in working been outstanding, including shares derived from corporate events that capital, taxes paid, and other cash items (net other expenses less have modified the stockholder’s equity structure during the period, such proceeds from the disposal of obsolete and/or substantially depleted as increases in the number of shares by a public offering and the operating fixed assets that are no longer in operation and coupon distribution of shares from stock dividends or recapitalizations of retained payments on our perpetual notes). earnings and the potential diluted shares (Stock options, Restricted Stock l-t-l (like to like) on a like-to-like basis adjusting for currency Options and Mandatory Convertible Shares). The shares issued because of fluctuations and for investments/divestments when applicable. share dividends, recapitalizations and potential diluted shares are Maintenance capital expenditures equal investments incurred for the considered as issued at the beginning of the period. purpose of ensuring the company’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 company policies. Exchange rates January—March First Quarter First Quarter 2022 2021 2022 2021 2022 2021 Average Average Average Average End of period End of period Mexican peso 20.32 20.63 20.32 20.63 19.88 20.43 Euro 0.8959 0.833 0.8959 0.833 0.9038 0.8525 British pound 0.7509 0.7226 0.7509 0.7226 0.7610 0.7256 Amounts provided in units of local currency per U.S. dollar.

Disclaimer
Except as the context otherwise may require, references in this report to “CEMEX,” “we,” “us” or “our” refer to CEMEX, S.A.B. de C.V. and its consolidated entities. The information contained in this report contains forward-looking statements within the meaning of the U.S. federal securities laws. We intend these forward-looking statements to be covered by the safe harbor provisions for forward-looking statements within the meaning of the U.S. federal securities laws. These forward-looking statements and information are necessarily subject to risks, uncertainties, and assumptions, including but not limited to statements related CEMEX’s plans, objectives, expectations (financial or otherwise), and typically can be identified by the use of words such as “will”, “may,” “assume,” “might,” “should,” “could,” “continue,” “would,” “can,” “consider,” “anticipate,” “estimate,” “expect,” “envision,” “plan,” “believe,” “foresee,” “predict,” “potential,” “target,” “strategy,” “intend,” “aimed”, and similar terms. Although CEMEX believes that its expectations are reasonable, it can give no assurance that these expectations will prove to be correct, and actual results may vary materially from historical results or results anticipated by forward-looking statements due to various factors. These forward-looking statements reflect, as of the date on which such forward-looking statements are made, our current expectations and projections about future events based on our knowledge of present facts and circumstances and assumptions about future events, unless otherwise indicated. These statements necessarily involve risks, uncertainties and assumptions that could cause actual results to differ materially from historical results or those anticipated in this report. Among others, such risks, uncertainties, and assumptions include those discussed in CEMEX’s most recent annual report and those detailed from time to time in CEMEX’s other filings with the Securities and Exchange Commission, which factors are incorporated herein by reference, including, but not limited to: impact of pandemics, epidemics or outbreaks of infectious diseases and the response of governments and other third parties, including with respect to the novel strain of the coronavirus identified in China in late 2019 and its variants (“COVID-19”), which have affected and may continue to adversely affect, among other matters, the ability of our operating facilities to operate at full or any capacity, supply chains, international operations, availability of liquidity, investor confidence and consumer spending, as well as the availability of, and demand for, our products and services; the cyclical activity of the construction sector; our exposure to other sectors that impact our and our clients’ businesses, such as, but not limited to, the energy sector; availability of raw materials and related fluctuating prices; volatility in pension plan asset values and liabilities, which may require cash contributions to the pension plans; the impact of environmental cleanup costs and other liabilities relating to existing and/or divested businesses; our ability to secure and permit aggregates reserves in strategically located areas; the timing and amount of federal, state and local funding for infrastructure; changes in the level of spending for private residential and private nonresidential construction; changes in our effective tax rate; competition in the markets in which we offer our products and services; general political, social, health, economic and business conditions in the markets in which we operate or that affect our operations and any significant economic, health, political or social developments in those markets, as well as any inherent risks to international operations; the regulatory environment, including environmental, energy, tax, labor, antitrust, and acquisition-related rules and regulations; our ability to satisfy our obligations under our material debt agreements, the indentures that govern our outstanding notes, and other debt instruments and financial obligations, including our subordinated notes with no fixed maturity and other financial obligations; the availability of short-term credit lines or working capital facilities, which can assist us in connection with market cycles; the impact of our below investment grade debt rating on our cost of capital and on the cost of the products and services we purchase; loss of reputation of our brands; our ability to consummate asset sales, fully integrate newly acquired businesses, achieve cost-savings from our cost-reduction initiatives, implement our pricing initiatives for our products and generally meet our “Operation Resilience” strategy’s goals; the increasing reliance on information technology infrastructure for our sales, invoicing, procurement, financial statements and other processes that can adversely affect our sales and operations in the event that the infrastructure does not work as intended, experiences technical difficulties or is subjected to cyber-attacks; changes in the economy that affect the demand for consumer goods, consequently affecting demand for our products and services; weather conditions, including but not limited to, excessive rain and snow, and disasters such as earthquakes and floods; trade barriers, including tariffs or import taxes and changes in existing trade policies or changes to, or withdrawals from, free trade agreements, including the United States-Mexico-Canada Agreement (“USMCA”), which was signed on November 30, 2019 and entered into force on July 1, 2020, superseding the North American Free Trade Agreement (“NAFTA”); availability and cost of trucks, railcars, barges and ships, as well as their licensed operators, for transport of our materials; labor shortages and constraints; terrorist and organized criminal activities as well as geopolitical events, such as war and armed conflicts, including the current war between Russia and Ukraine; declarations of insolvency or bankruptcy, or becoming subject to similar proceedings; and, natural disasters and other unforeseen events (including global health hazards such as COVID-19). Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from historical results, performance or achievements and/or results, performance or achievements expressly or implicitly anticipated by the forward-looking statements, or otherwise could have an impact on us or our consolidated entities. Any or all of CEMEX’s forward-looking statements may turn out to be inaccurate and the factors identified above are not exhaustive. 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. These factors may be revised or supplemented, but CEMEX is not under, and expressly disclaims, any obligation to update or correct the information contained in this report or any forward-looking statement that it may make from time to time, whether as a result of new information, future events or otherwise. Readers should review future reports filed by us with the U.S. Securities and Exchange Commission and the Mexican Stock Exchange (Bolsa Mexicana de Valores). This report also includes statistical data regarding the production, distribution, marketing and sale of cement, ready mix concrete, clinker, aggregates and Urbanization Solutions. Unless the context indicates otherwise, all references to pricing initiatives, price increases or decreases, refer to CEMEX’s prices for CEMEX’s products. We generated some of this data internally, and some was obtained from independent industry publications and reports that we believe to be reliable sources. We have not independently verified this data nor sought the consent of any organizations to refer to their reports in this report. UNLESS OTHERWISE NOTED, ALL FIGURES ARE PRESENTED IN DOLLARS, BASED ON INTERNATIONAL FINANCIAL REPORTING STANDARDS, AS APPLICABLE Copyright CEMEX, S.A.B. de C.V. and its subsidiaries 2022 First Quarter Results                Page 16